1 00:00:00,080 --> 00:00:03,240 Speaker 1: Welcome to had the Money. I'm Joel and I am Matt, 2 00:00:03,279 --> 00:00:06,360 Speaker 1: and today we're talking Black Friday flaws four oh one 3 00:00:06,440 --> 00:00:29,560 Speaker 1: k fails and you're buying the wrong ev that's right. 4 00:00:29,640 --> 00:00:33,400 Speaker 2: Happy Friday to everyone and we'll real quickly happy a 5 00:00:33,479 --> 00:00:37,600 Speaker 2: belated happy Thanksgiving, yeah to everyone, which we were just 6 00:00:37,640 --> 00:00:41,120 Speaker 2: talking about this. We smoked our first turkey ever this week, 7 00:00:41,800 --> 00:00:42,839 Speaker 2: so stinking good. 8 00:00:43,080 --> 00:00:45,319 Speaker 1: Waiting on a little bit of leftovers to go back 9 00:00:45,360 --> 00:00:45,960 Speaker 1: for myself. 10 00:00:46,000 --> 00:00:51,199 Speaker 2: No leftovers because got gobbled up. But it's yeah, Black Friday, 11 00:00:51,479 --> 00:00:53,960 Speaker 2: and we hope folks aren't getting too carried away with 12 00:00:53,960 --> 00:00:54,680 Speaker 2: the sales out there. 13 00:00:54,880 --> 00:00:57,200 Speaker 1: Over turkey is better than fresh almost like the next 14 00:00:57,360 --> 00:01:02,160 Speaker 1: the next day with like uh in a role toss turkey. 15 00:01:02,200 --> 00:01:05,679 Speaker 1: Oh yeah, like the dry cold turkey. 16 00:01:06,880 --> 00:01:09,240 Speaker 2: Not to be dry, but I like, I like leftovers. 17 00:01:09,440 --> 00:01:11,560 Speaker 2: It's also okay, here's a secret. We put a little 18 00:01:11,560 --> 00:01:14,720 Speaker 2: bit of lemon pepper, a little bit of lemon pepper 19 00:01:14,720 --> 00:01:16,760 Speaker 2: on the turkey. We kind of went the wing the 20 00:01:16,840 --> 00:01:19,840 Speaker 2: chicken wings direction with it a little bit, and everybody 21 00:01:19,959 --> 00:01:21,800 Speaker 2: likes lemon pepper, so why not throw some of that 22 00:01:21,840 --> 00:01:23,959 Speaker 2: on the turkey. Little pro advice. 23 00:01:23,680 --> 00:01:27,000 Speaker 1: For Matt's new YouTube channel, all about smoking. 24 00:01:27,120 --> 00:01:29,240 Speaker 2: I was gonna mention though, I think folks are just 25 00:01:29,319 --> 00:01:32,120 Speaker 2: they're on their tablets, their phones, the computers, scouring the 26 00:01:32,120 --> 00:01:34,200 Speaker 2: internet for deals, and obviously we want folks to do that. 27 00:01:34,360 --> 00:01:36,280 Speaker 2: We're gonna talk a lot, actually a decent bit about 28 00:01:36,280 --> 00:01:39,120 Speaker 2: Black Friday. But while you're at it, head over to 29 00:01:39,240 --> 00:01:43,319 Speaker 2: howdomoney dot com because instead of us tempting you into 30 00:01:43,760 --> 00:01:46,320 Speaker 2: spending your money, we've got so much great advice. 31 00:01:46,360 --> 00:01:46,760 Speaker 1: We made some. 32 00:01:46,760 --> 00:01:50,360 Speaker 2: Tweaks to the website. We've got some articles, some guides 33 00:01:50,400 --> 00:01:52,520 Speaker 2: on how it is you can earn more money, you 34 00:01:52,560 --> 00:01:54,880 Speaker 2: can save more money invest wisely. 35 00:01:55,040 --> 00:01:56,880 Speaker 1: Yeah, we just changed the navigation mar at the top 36 00:01:56,920 --> 00:01:58,960 Speaker 1: two so it's easier to find the content you're looking for. 37 00:01:59,200 --> 00:02:01,920 Speaker 1: If you're like I wasn't like a major overhaul, No, no. 38 00:02:02,000 --> 00:02:04,200 Speaker 2: But we just want to point folks to something that's 39 00:02:04,240 --> 00:02:06,320 Speaker 2: good as opposed to something that's only. 40 00:02:06,120 --> 00:02:07,800 Speaker 1: Going to part you one hundred percent. And one of 41 00:02:07,800 --> 00:02:09,799 Speaker 1: the most the brand new articles up on the site 42 00:02:09,800 --> 00:02:12,040 Speaker 1: that's definitely worth checking out. It's all about travel hacking. 43 00:02:12,080 --> 00:02:14,799 Speaker 1: It's like a gargantuo and almost seven thousand word piece, 44 00:02:15,120 --> 00:02:17,919 Speaker 1: but it's worth checking out. If you're saying I want 45 00:02:17,919 --> 00:02:20,239 Speaker 1: to travel, but I don't want to spend much money. 46 00:02:20,440 --> 00:02:22,880 Speaker 1: If you're frugal in that way, that article can be 47 00:02:23,120 --> 00:02:24,680 Speaker 1: massively helpful, kind of help you come up with a 48 00:02:24,720 --> 00:02:27,400 Speaker 1: game plan for how to go about that, how to 49 00:02:27,440 --> 00:02:30,320 Speaker 1: get the right points and how to use them appropriately too, 50 00:02:30,400 --> 00:02:32,880 Speaker 1: so that you are able to travel free or next 51 00:02:32,880 --> 00:02:33,520 Speaker 1: to nothing at least. 52 00:02:33,639 --> 00:02:35,919 Speaker 2: Yeah, and I'm going to do one other additional plug too, 53 00:02:35,960 --> 00:02:38,120 Speaker 2: for the Southwest Companion Pass we've mentioned. Did we mention 54 00:02:38,200 --> 00:02:39,840 Speaker 2: this last week or a couple weeks ago, It is 55 00:02:39,840 --> 00:02:42,799 Speaker 2: still the perfect time of year to apply for that car, 56 00:02:42,880 --> 00:02:45,400 Speaker 2: to have it in your possession, and to start getting 57 00:02:45,400 --> 00:02:47,440 Speaker 2: those charges on there towards the end of December, so 58 00:02:47,480 --> 00:02:51,000 Speaker 2: you can score that ability to travel for free for 59 00:02:51,080 --> 00:02:52,919 Speaker 2: the next two years. Essentially. We'll link to that in 60 00:02:52,960 --> 00:02:53,520 Speaker 2: the show notes. 61 00:02:53,600 --> 00:02:55,320 Speaker 1: I love it all right, So if you're actually buying 62 00:02:55,360 --> 00:02:57,000 Speaker 1: stuff that let was talking about Black Friday month, let's 63 00:02:57,040 --> 00:02:59,239 Speaker 1: get to the Friday flight the sampling of stories we 64 00:02:59,240 --> 00:03:01,799 Speaker 1: found interesting this and of course yes it is kind 65 00:03:01,800 --> 00:03:04,520 Speaker 1: of the most consumer central holiday of the year, Black Friday. 66 00:03:04,760 --> 00:03:06,880 Speaker 1: And there was a stat we saw from wallet hub 67 00:03:07,000 --> 00:03:09,280 Speaker 1: which reveals a lot. It basically found that thirty five 68 00:03:09,320 --> 00:03:13,000 Speaker 1: percent of Black Friday deals offer no savings compared to 69 00:03:13,040 --> 00:03:16,760 Speaker 1: their pre Black Friday price. Right, Basically that shirt, the 70 00:03:16,800 --> 00:03:19,560 Speaker 1: toy or the electronic device, it might have been just 71 00:03:19,600 --> 00:03:23,760 Speaker 1: as inexpensive recently, like you're not. Actually, it sure looks 72 00:03:23,800 --> 00:03:26,320 Speaker 1: like it based on the marketing, based on the giant 73 00:03:26,320 --> 00:03:29,399 Speaker 1: red numbers and the slashes and the percentage off sort 74 00:03:29,400 --> 00:03:31,800 Speaker 1: of thing attached to it. And it's not that great 75 00:03:31,800 --> 00:03:33,280 Speaker 1: deals can't be had. There are a lot of great 76 00:03:33,320 --> 00:03:37,080 Speaker 1: deals out there right now, and we'll talk and we 77 00:03:37,120 --> 00:03:39,720 Speaker 1: talked with deal expert from a deal News recently on 78 00:03:39,720 --> 00:03:41,920 Speaker 1: the show to discuss, well, where are the deals at? 79 00:03:42,080 --> 00:03:44,880 Speaker 1: But just because it says fifty percent off or whatever, right, 80 00:03:45,160 --> 00:03:46,600 Speaker 1: it doesn't mean that it's a deal and that you 81 00:03:46,600 --> 00:03:49,000 Speaker 1: should pounce on it and you should buy it immediately 82 00:03:49,000 --> 00:03:50,640 Speaker 1: because you're never going to get find that low of 83 00:03:50,640 --> 00:03:52,520 Speaker 1: a price again. We would say use a plug in 84 00:03:52,600 --> 00:03:55,120 Speaker 1: like Honey or Camel, Cambell Camel to help you figure 85 00:03:55,120 --> 00:03:57,320 Speaker 1: out what deals are actually deals and to look at 86 00:03:57,320 --> 00:04:00,120 Speaker 1: the actual price history instead of just that that the 87 00:04:00,160 --> 00:04:03,480 Speaker 1: giant red numbers and percentage off, like that's more revelatory 88 00:04:03,520 --> 00:04:06,920 Speaker 1: than whatever the retailers trying to spend typically absolutely. Yeah. 89 00:04:06,920 --> 00:04:08,800 Speaker 2: In that same survey, I saw that I think it 90 00:04:08,840 --> 00:04:11,840 Speaker 2: was close to thirteen percent of items are actually going 91 00:04:11,920 --> 00:04:15,000 Speaker 2: to be more expensive during black friding, Which is crazy 92 00:04:15,000 --> 00:04:18,680 Speaker 2: to think that we can fall into this trap of 93 00:04:19,080 --> 00:04:21,080 Speaker 2: like you get caught in the mad rush of spending 94 00:04:21,120 --> 00:04:23,800 Speaker 2: and you see again it's the marketing. You see the slashes, 95 00:04:23,839 --> 00:04:26,359 Speaker 2: you see minus however much percent and in fact, oh, 96 00:04:26,440 --> 00:04:29,240 Speaker 2: maybe they're lying and the item actually costs you more. 97 00:04:29,760 --> 00:04:31,279 Speaker 2: That was very eye opening. 98 00:04:31,400 --> 00:04:33,440 Speaker 1: Yeah, or you didn't let sell that. In terms of clothes, 99 00:04:33,480 --> 00:04:35,320 Speaker 1: I'm thinking of Jay Crew, it's like fifty percent off 100 00:04:35,360 --> 00:04:37,159 Speaker 1: everything on those site. And then it's like, well, but 101 00:04:37,200 --> 00:04:39,000 Speaker 1: if you just wait a few more weeks until they've 102 00:04:39,000 --> 00:04:42,320 Speaker 1: got their like maybe it'll be seventy and the season sales. Yeah, no, 103 00:04:42,360 --> 00:04:44,120 Speaker 1: for real, you're gonna save a whole lot more. Wrongly, 104 00:04:44,320 --> 00:04:44,760 Speaker 1: Oh okay. 105 00:04:44,760 --> 00:04:47,360 Speaker 2: So it's also important to note that returns are going 106 00:04:47,440 --> 00:04:49,800 Speaker 2: to cost you more money these days. We've documented the 107 00:04:49,880 --> 00:04:52,960 Speaker 2: rise of fees to take back the stuff that you 108 00:04:53,080 --> 00:04:55,640 Speaker 2: decided that you don't want, but about forty percent of 109 00:04:55,680 --> 00:04:58,920 Speaker 2: retailers are charging for returns this year. That is a 110 00:04:58,960 --> 00:05:02,960 Speaker 2: significant increase from last year. We'll link to a story 111 00:05:03,000 --> 00:05:04,920 Speaker 2: that kind of lists out some of the a lot 112 00:05:04,960 --> 00:05:08,800 Speaker 2: of the fees of some popular retailers. But TG Max, 113 00:05:08,800 --> 00:05:12,040 Speaker 2: for instance, they're gonna lop off twelve bucks when you 114 00:05:12,080 --> 00:05:14,360 Speaker 2: send an item back for it like shipping, and fees 115 00:05:14,440 --> 00:05:15,880 Speaker 2: double with a lot of other retails, but they're not 116 00:05:15,880 --> 00:05:18,960 Speaker 2: the only ones, but that is a significant, significant cost. 117 00:05:19,520 --> 00:05:22,320 Speaker 2: So just know the return policy and think twice before 118 00:05:22,440 --> 00:05:24,839 Speaker 2: you click by I think a strategy that is worth 119 00:05:24,800 --> 00:05:28,000 Speaker 2: employing something something that we've done before. It's worth shopping 120 00:05:28,040 --> 00:05:30,960 Speaker 2: online because who has time to actually go in store 121 00:05:31,240 --> 00:05:33,560 Speaker 2: in the next forty eight hours and actually make a purchase. 122 00:05:33,960 --> 00:05:35,720 Speaker 2: We do a whole lot of shopping online for sure, 123 00:05:36,080 --> 00:05:37,599 Speaker 2: but just make sure that when you do make some 124 00:05:37,640 --> 00:05:40,120 Speaker 2: returns that you are doing those in person. You can 125 00:05:40,200 --> 00:05:42,440 Speaker 2: kind of that's typically how you avoid those fees. Yes, 126 00:05:42,520 --> 00:05:46,440 Speaker 2: shop online, return in person. I recently made a return 127 00:05:46,520 --> 00:05:49,200 Speaker 2: run back because we kind of amassed a pile and 128 00:05:49,320 --> 00:05:50,800 Speaker 2: certainly keep an eye on the dates because you don't 129 00:05:50,800 --> 00:05:53,360 Speaker 2: want to get outside. Yeah that return window. But went 130 00:05:53,400 --> 00:05:57,000 Speaker 2: down to a mall that was not super convenient, But 131 00:05:57,200 --> 00:05:59,120 Speaker 2: fact is I went to the mall because that's where 132 00:05:59,120 --> 00:06:01,160 Speaker 2: all the stores were. Really the ability just to walk 133 00:06:01,200 --> 00:06:03,040 Speaker 2: from one store to the next, and yeah, I felt 134 00:06:03,040 --> 00:06:05,600 Speaker 2: so good because every return I was making, it's like boom, 135 00:06:05,600 --> 00:06:08,120 Speaker 2: five bucks saved, Boom eight dollars saved, as opposed to 136 00:06:08,680 --> 00:06:10,240 Speaker 2: just forking out the money and yeah, mailing it. 137 00:06:10,240 --> 00:06:12,280 Speaker 1: Back no as important to note as more and more 138 00:06:12,279 --> 00:06:16,039 Speaker 1: retailers are charging for those fees for those returns, try 139 00:06:16,040 --> 00:06:18,240 Speaker 1: to avoid them and maybe maybe it'll help us all 140 00:06:18,320 --> 00:06:20,920 Speaker 1: it should think twice before we click to buy in 141 00:06:21,000 --> 00:06:22,360 Speaker 1: the first place. If you're like I want to be 142 00:06:22,440 --> 00:06:25,800 Speaker 1: able to I'm not sure about this item, Well maybe 143 00:06:25,839 --> 00:06:28,760 Speaker 1: if you're worried about losing money by having to return it, 144 00:06:28,920 --> 00:06:30,680 Speaker 1: you might just say, eh, screw it, I'm not even 145 00:06:30,680 --> 00:06:32,440 Speaker 1: gonna buy it. Yeah, and it might be better to 146 00:06:32,480 --> 00:06:35,200 Speaker 1: op for a trip. Those can't be returned, obviously. But 147 00:06:35,279 --> 00:06:37,880 Speaker 1: friend of the show, Elaine Glusack, she's a frugal traveler 148 00:06:37,880 --> 00:06:40,000 Speaker 1: over the New York Times. She had a great article 149 00:06:40,040 --> 00:06:41,920 Speaker 1: this week detailing many of the travel deals that are 150 00:06:41,920 --> 00:06:45,240 Speaker 1: currently available. They're happening right now, but we also might 151 00:06:45,279 --> 00:06:48,800 Speaker 1: see improved and better travel deals next week on like 152 00:06:48,839 --> 00:06:51,800 Speaker 1: Tuesday of next week till Tuesday, that's right, and so 153 00:06:51,839 --> 00:06:53,359 Speaker 1: we'll link to that article in the show notes, if 154 00:06:53,360 --> 00:06:54,960 Speaker 1: you have a New York Times subscription, you can check 155 00:06:54,960 --> 00:06:56,680 Speaker 1: it out. I think they are even like kind of 156 00:06:56,880 --> 00:06:58,800 Speaker 1: payall sites. What is it? Twelve foot Ladder is one, 157 00:06:58,839 --> 00:06:59,920 Speaker 1: so you might be able to read it on that 158 00:07:00,839 --> 00:07:02,920 Speaker 1: without actually subscribing to The New York Times. But when 159 00:07:02,960 --> 00:07:05,719 Speaker 1: it comes to travel, we're always in favor of letting 160 00:07:05,720 --> 00:07:08,320 Speaker 1: the deal drive the destination. And so if they're killer 161 00:07:08,360 --> 00:07:11,080 Speaker 1: deals that you're interested in that Elaine has mentioned in 162 00:07:11,080 --> 00:07:12,840 Speaker 1: this article, and she'd lists out a bunch of the 163 00:07:12,840 --> 00:07:15,160 Speaker 1: individual ones that could be a great gift for a 164 00:07:15,160 --> 00:07:17,400 Speaker 1: loved one, the gift of an experience of a trip 165 00:07:17,640 --> 00:07:19,840 Speaker 1: to Alaska or something like that. Take me along too, 166 00:07:19,880 --> 00:07:21,600 Speaker 1: because I've always wanted to go a. 167 00:07:21,560 --> 00:07:25,040 Speaker 2: Little less buyer's remorse involved with travel as well, because yeah, 168 00:07:25,040 --> 00:07:27,720 Speaker 2: the ability to create those experiences spend time together with 169 00:07:27,800 --> 00:07:28,800 Speaker 2: loved ones, especially. 170 00:07:28,520 --> 00:07:31,040 Speaker 1: When you get that lodging or excursion for forty percent off. 171 00:07:31,040 --> 00:07:33,800 Speaker 2: Massive discount. Okay, since we're talking about consumption, it turns 172 00:07:33,800 --> 00:07:37,480 Speaker 2: out you can buy anything on the internet these days. Okay, 173 00:07:37,520 --> 00:07:41,360 Speaker 2: So CarMax, they've made it easier to find the used 174 00:07:41,480 --> 00:07:45,440 Speaker 2: car that you've wanted with a fairly painless process. Amazon. 175 00:07:45,640 --> 00:07:48,080 Speaker 2: They are now getting into the new car selling game. 176 00:07:48,920 --> 00:07:51,520 Speaker 2: This is pretty fascinating on multiple levels. 177 00:07:51,320 --> 00:07:53,120 Speaker 1: And they're partnering with Hyundai right to launch. 178 00:07:52,920 --> 00:07:55,040 Speaker 2: Tun Day specifically. That's right, So first of all, it 179 00:07:55,040 --> 00:07:56,880 Speaker 2: makes sense. Like you think about buying a new car, 180 00:07:56,960 --> 00:07:58,840 Speaker 2: the old school model buying a car and person, it 181 00:07:58,880 --> 00:08:01,560 Speaker 2: doesn't work as well well for younger generations who want 182 00:08:01,600 --> 00:08:02,400 Speaker 2: a different experience. 183 00:08:02,560 --> 00:08:03,960 Speaker 1: Tesla, they've led the charge right. 184 00:08:04,160 --> 00:08:07,600 Speaker 2: They're circumventing the traditional dealership model where you're buying directly 185 00:08:07,640 --> 00:08:09,960 Speaker 2: from them. Ford do they want to pivot in that 186 00:08:10,000 --> 00:08:13,080 Speaker 2: direction as well for EV sales, But again they're having 187 00:08:13,080 --> 00:08:15,600 Speaker 2: a hard time given how tired they are to the 188 00:08:15,640 --> 00:08:16,400 Speaker 2: dealership model. 189 00:08:16,480 --> 00:08:19,200 Speaker 1: Yeah, there's like a dealership revolt there. They're not happy 190 00:08:19,240 --> 00:08:20,040 Speaker 1: with the parent. 191 00:08:19,880 --> 00:08:22,640 Speaker 2: Company exactly, so that's one aspect of it. But secondly, 192 00:08:22,840 --> 00:08:25,440 Speaker 2: buying a Hyundai when they're available for purchase next year 193 00:08:25,520 --> 00:08:28,040 Speaker 2: via Amazon, that is unlikely going to be your best 194 00:08:28,080 --> 00:08:30,320 Speaker 2: bet to get the best deal possible. I think it 195 00:08:30,360 --> 00:08:33,960 Speaker 2: can be helpful during your research, but I think you'll 196 00:08:34,000 --> 00:08:36,880 Speaker 2: be able to likely save more money by taking other 197 00:08:36,920 --> 00:08:41,680 Speaker 2: tactics as opposed to just like clicking buy. It's like 198 00:08:41,720 --> 00:08:44,480 Speaker 2: the easy button and Honestly, it just seems like a gimmick. 199 00:08:44,520 --> 00:08:47,360 Speaker 2: I don't understand how it is that folks like this 200 00:08:47,400 --> 00:08:49,400 Speaker 2: is other than your home. This is the most expensive 201 00:08:49,440 --> 00:08:51,080 Speaker 2: purchase that you are ever going to make. 202 00:08:51,000 --> 00:08:52,559 Speaker 1: And they're looping you in with a dealer. So it's 203 00:08:52,640 --> 00:08:55,640 Speaker 1: it's it's not like you're still purchasing delivery like thrown 204 00:08:55,679 --> 00:08:56,480 Speaker 1: up in your exact place. 205 00:08:56,559 --> 00:08:58,480 Speaker 2: And who is not going to want to go in person? Well, 206 00:08:58,520 --> 00:09:00,640 Speaker 2: I think that because you want to. You want to 207 00:09:00,800 --> 00:09:02,839 Speaker 2: set in it, literally take it for a test drive. 208 00:09:02,920 --> 00:09:04,840 Speaker 2: These are so important when it comes to the ability 209 00:09:04,880 --> 00:09:07,000 Speaker 2: to know whether or not this is a car that's 210 00:09:07,000 --> 00:09:07,480 Speaker 2: gonna work for. 211 00:09:07,480 --> 00:09:08,920 Speaker 1: I think people care about that a whole lot less 212 00:09:08,920 --> 00:09:11,319 Speaker 1: because you mentioned Carvana and Carmacks and people are now 213 00:09:11,360 --> 00:09:13,640 Speaker 1: getting accustomed to buying the car. Yeah, and as long 214 00:09:13,679 --> 00:09:15,800 Speaker 1: as there's a return window seven or thirty days like 215 00:09:15,840 --> 00:09:17,559 Speaker 1: they offer. It's like the car. 216 00:09:17,400 --> 00:09:19,480 Speaker 2: Return windows for new cars though like on us that. 217 00:09:19,520 --> 00:09:21,720 Speaker 2: I think that's how Carvana and Carmacks were able to 218 00:09:21,960 --> 00:09:24,319 Speaker 2: get around that. That's what put me at ease when 219 00:09:24,320 --> 00:09:27,120 Speaker 2: we bought our van from Carvana, was like five six 220 00:09:27,200 --> 00:09:30,440 Speaker 2: years ago. Now knowing okay, it doesn't really matter. I 221 00:09:30,440 --> 00:09:32,079 Speaker 2: can just take it back. I don't like it, but 222 00:09:32,160 --> 00:09:33,840 Speaker 2: that's not typically not the case when it comes to 223 00:09:33,880 --> 00:09:35,439 Speaker 2: new cars, and that's the part that I'm kind of 224 00:09:35,480 --> 00:09:38,000 Speaker 2: confused about. That's why I'm thinking, is this more of 225 00:09:38,040 --> 00:09:40,280 Speaker 2: a gimmick than actually a way for them. 226 00:09:40,120 --> 00:09:43,520 Speaker 1: To let Amazon's pushing you to a dealership anyway, it 227 00:09:43,520 --> 00:09:45,880 Speaker 1: makes more sense to go the Costco car buying route 228 00:09:45,960 --> 00:09:47,599 Speaker 1: or something like that. If you know kind of the 229 00:09:47,640 --> 00:09:49,760 Speaker 1: make and model that you want, you should you should 230 00:09:49,800 --> 00:09:51,920 Speaker 1: totally go try to do it through Costco's car buying 231 00:09:51,920 --> 00:09:53,920 Speaker 1: program instead, because you're likely to get a better price 232 00:09:54,280 --> 00:09:58,960 Speaker 1: because of the negotiating ability that Costco has with dealerships 233 00:09:58,960 --> 00:10:01,400 Speaker 1: in your area. That's likely going to get you a 234 00:10:01,400 --> 00:10:04,480 Speaker 1: better price, a better experience. And there are ways so 235 00:10:04,480 --> 00:10:06,720 Speaker 1: that you could save even more kind of by doing 236 00:10:06,720 --> 00:10:10,079 Speaker 1: guerrilla warfare tactics via email with different dealerships in your 237 00:10:10,080 --> 00:10:13,400 Speaker 1: area for the car you want. But I think Costco 238 00:10:13,600 --> 00:10:15,920 Speaker 1: is at least the best easy button. It's interesting that 239 00:10:15,960 --> 00:10:18,880 Speaker 1: Amazon's going, yeah, but is this really but is this 240 00:10:18,960 --> 00:10:21,480 Speaker 1: really just a publicity stunt and it's not actually going 241 00:10:21,559 --> 00:10:23,240 Speaker 1: to help people buy a car? Are I don't know? 242 00:10:23,320 --> 00:10:26,160 Speaker 1: Maybe yeah, And we don't necessarily hate the idea of 243 00:10:26,240 --> 00:10:27,839 Speaker 1: new car ownership, by the way, but we also don't 244 00:10:27,880 --> 00:10:30,680 Speaker 1: love it. It's all about your own personal finance situation, 245 00:10:30,760 --> 00:10:32,360 Speaker 1: how much you've saved, how long you plan to own 246 00:10:32,360 --> 00:10:35,360 Speaker 1: the vehicle. We would suggest having an ownership timeline of 247 00:10:35,400 --> 00:10:38,080 Speaker 1: at least ten years. That makes a new car purchase 248 00:10:38,160 --> 00:10:41,280 Speaker 1: far less egregious, so far less of a financial sin. 249 00:10:41,559 --> 00:10:43,880 Speaker 1: And so we know that this isn't for everyone, but 250 00:10:43,920 --> 00:10:46,440 Speaker 1: we're always pushing people to at least think about whether 251 00:10:46,520 --> 00:10:47,920 Speaker 1: or not they can cut a car out of their 252 00:10:47,960 --> 00:10:50,600 Speaker 1: lives and commute more by bike or by foot. 253 00:10:50,720 --> 00:10:53,040 Speaker 2: Yeah, forget buying a new car, let's talk about it 254 00:10:53,240 --> 00:10:54,520 Speaker 2: driving less in general. 255 00:10:54,360 --> 00:10:56,280 Speaker 1: Or get one of those flint stone vehicles where it's 256 00:10:56,400 --> 00:10:58,160 Speaker 1: a car but you are still driving by foot. Right, 257 00:10:58,240 --> 00:11:00,640 Speaker 1: it can often actually be worth worth it to pay 258 00:11:00,679 --> 00:11:03,280 Speaker 1: more for rent to live closer to where your job 259 00:11:03,360 --> 00:11:05,080 Speaker 1: is right in order to pull this off. So there's 260 00:11:05,120 --> 00:11:08,560 Speaker 1: this article from this website called inside Hook. It's cited 261 00:11:08,600 --> 00:11:11,200 Speaker 1: a twenty sixteen study, and it found that a person 262 00:11:11,480 --> 00:11:13,640 Speaker 1: with a one hour commute to work has to earn 263 00:11:14,000 --> 00:11:16,800 Speaker 1: forty percent more money to be as satisfied as someone 264 00:11:16,800 --> 00:11:19,440 Speaker 1: who walks to their job, which is insane. It's like, 265 00:11:20,160 --> 00:11:22,320 Speaker 1: that's how happy people are when they can commute on 266 00:11:22,360 --> 00:11:24,599 Speaker 1: foot or on bike. Shifting from a long commute to 267 00:11:24,640 --> 00:11:26,600 Speaker 1: a short walk to work would make a single person 268 00:11:26,880 --> 00:11:29,440 Speaker 1: as happy, this study found as if he or she 269 00:11:29,480 --> 00:11:32,079 Speaker 1: had found a new love. And so it's I mean, 270 00:11:32,120 --> 00:11:35,880 Speaker 1: it's amazing, like we specifically for the single folks out there. Yeah, yeah, yeah, yeah, 271 00:11:35,920 --> 00:11:37,880 Speaker 1: yeah exactly. You don't want to find a new love 272 00:11:37,880 --> 00:11:41,400 Speaker 1: if you're already married. But yeah, it's it's amazing how 273 00:11:41,720 --> 00:11:45,040 Speaker 1: how much happiness we get from just that little commute 274 00:11:45,600 --> 00:11:49,000 Speaker 1: through the outdoors and as opposed to being in a box. 275 00:11:49,440 --> 00:11:50,760 Speaker 1: And I was talking to some of the other day 276 00:11:50,880 --> 00:11:53,839 Speaker 1: he has an almost two hour commute each way. Yeah, 277 00:11:53,880 --> 00:11:57,000 Speaker 1: and I was like, I don't know how that's possible, dude, 278 00:11:57,000 --> 00:11:59,800 Speaker 1: Like I would go insane, even though i'd. 279 00:11:59,559 --> 00:12:03,079 Speaker 2: Catch you goes in like a couple times a week though, right, yeah, 280 00:12:03,200 --> 00:12:05,520 Speaker 2: it's I think it's like like a daily two hour 281 00:12:05,760 --> 00:12:06,959 Speaker 2: one way commute, which. 282 00:12:06,840 --> 00:12:09,200 Speaker 1: But even two or three days, no, sorry, I ain't 283 00:12:09,200 --> 00:12:11,439 Speaker 1: doing it. And I guess I think we underestimate just 284 00:12:11,480 --> 00:12:13,440 Speaker 1: how painful a car comute can be. Like we're like, yeah, 285 00:12:13,440 --> 00:12:15,760 Speaker 1: I don't love it, but from a physical and mental perspective, 286 00:12:15,800 --> 00:12:19,000 Speaker 1: it can be massively draining, and changing this overnight is 287 00:12:19,040 --> 00:12:21,480 Speaker 1: typically impossible, right unless you're going you're able to go 288 00:12:21,520 --> 00:12:23,240 Speaker 1: full work from home because you got a new gig, 289 00:12:23,440 --> 00:12:26,200 Speaker 1: and that has some downsides too. But driving your car 290 00:12:26,320 --> 00:12:29,280 Speaker 1: less is always a good money saving goal. We're always 291 00:12:29,440 --> 00:12:32,960 Speaker 1: we're always pushing people in that direction, and so again, 292 00:12:33,000 --> 00:12:35,160 Speaker 1: you probably can't do it tomorrow, but it's something that 293 00:12:35,160 --> 00:12:37,680 Speaker 1: you can start to incorporate into your life, hopefully over 294 00:12:37,760 --> 00:12:39,959 Speaker 1: time as you're trying to try to create the ideal 295 00:12:39,960 --> 00:12:40,920 Speaker 1: lifestyle for yourself. 296 00:12:41,000 --> 00:12:42,920 Speaker 2: It's not only good for your physical health, for your 297 00:12:42,920 --> 00:12:45,120 Speaker 2: mental health, it's not only good for your wallet. But 298 00:12:45,640 --> 00:12:48,480 Speaker 2: there is new data that finds that the two hundred 299 00:12:48,480 --> 00:12:51,199 Speaker 2: and eighty million e bikes and scooters that are currently 300 00:12:51,280 --> 00:12:55,440 Speaker 2: on the road are displacing far more demand for oil 301 00:12:55,720 --> 00:12:59,080 Speaker 2: than traditional well I say traditional electric vehicles, but like 302 00:12:59,320 --> 00:13:02,679 Speaker 2: like your standard electric vehicle, like your Leaf or Tesla, 303 00:13:03,040 --> 00:13:04,480 Speaker 2: and so what we're highlighting here is the fact that 304 00:13:04,480 --> 00:13:06,720 Speaker 2: it's good for the environment as well. Estimates are that 305 00:13:06,760 --> 00:13:11,160 Speaker 2: these smaller electric vehicles that are rapidly growing in popular. 306 00:13:10,880 --> 00:13:14,559 Speaker 1: Areas, but not electric vehicles electric like mobility. 307 00:13:14,160 --> 00:13:17,680 Speaker 2: Devices, yeah, mobility devices like so like e scooters, that 308 00:13:17,760 --> 00:13:20,160 Speaker 2: kind of thing, electric mopeds. But they've cut the world's 309 00:13:20,280 --> 00:13:23,760 Speaker 2: oil demand by a million barrels of oil per day, 310 00:13:24,120 --> 00:13:27,120 Speaker 2: which is is mind blowing. And we've seen a lot 311 00:13:27,160 --> 00:13:30,800 Speaker 2: of growth in this sector in other countries in particular. 312 00:13:30,920 --> 00:13:32,720 Speaker 1: So when you hop on your e bike, you're actually 313 00:13:32,720 --> 00:13:35,520 Speaker 1: you're doing good, absolutely not by getting out of your car. 314 00:13:35,559 --> 00:13:37,760 Speaker 1: By getting out of the e bike. Every every trip matters. 315 00:13:37,880 --> 00:13:40,280 Speaker 2: Yeah, and so it's just this is just to highlight that, 316 00:13:40,320 --> 00:13:42,440 Speaker 2: like we are fans of EV's, we talk about them, 317 00:13:43,040 --> 00:13:46,880 Speaker 2: how one day we might actually own some sweet electric vehicles, 318 00:13:47,040 --> 00:13:49,319 Speaker 2: but they're just not as green as many folks would 319 00:13:49,400 --> 00:13:52,520 Speaker 2: lead you to believe. These micro electric devices they are 320 00:13:52,640 --> 00:13:55,839 Speaker 2: the absolute greenest way to well, I don't see the 321 00:13:55,840 --> 00:13:58,280 Speaker 2: absolute grid. The most greenway is just to actually walk. 322 00:13:58,600 --> 00:14:01,400 Speaker 2: The ability jole for unite to riot are not even 323 00:14:01,440 --> 00:14:04,440 Speaker 2: e bikes, our traditional human muscle power pikes. 324 00:14:04,440 --> 00:14:05,240 Speaker 1: That's the absolute best. 325 00:14:05,280 --> 00:14:07,760 Speaker 2: That is the absolute best. It's the most efficient vehicle. 326 00:14:08,080 --> 00:14:13,600 Speaker 2: But besides that, these other electric vehicles, micro electric devices, 327 00:14:13,640 --> 00:14:15,240 Speaker 2: they are the best way of getting around. They're going 328 00:14:15,280 --> 00:14:18,800 Speaker 2: to save you money and so bottom line, exercise. 329 00:14:18,400 --> 00:14:19,200 Speaker 1: Is good for us. 330 00:14:19,240 --> 00:14:21,560 Speaker 2: But if you like to exercise, if you like saving money, 331 00:14:21,960 --> 00:14:24,880 Speaker 2: also if you like helping the planet, then bikes and 332 00:14:24,920 --> 00:14:27,800 Speaker 2: even e bikes are going to be a massive boon 333 00:14:27,880 --> 00:14:28,520 Speaker 2: to the success. 334 00:14:28,520 --> 00:14:31,200 Speaker 1: So it's like really pleased to see that. And I again, 335 00:14:31,440 --> 00:14:33,640 Speaker 1: like you said, electric vehicles they're great. I think they've 336 00:14:33,640 --> 00:14:37,920 Speaker 1: got a lot of positives, right, But the fewer cars 337 00:14:38,000 --> 00:14:40,960 Speaker 1: we own, the less we drive. Anyway, maybe not owning 338 00:14:41,080 --> 00:14:43,760 Speaker 1: an electric vehicle, but just owning some of these couple 339 00:14:43,800 --> 00:14:46,200 Speaker 1: of these micro electric devices to get around as a family. 340 00:14:46,480 --> 00:14:48,880 Speaker 1: Maybe that's a far better play, depending on where you 341 00:14:48,960 --> 00:14:50,480 Speaker 1: live and where you need to go and stuff like that. 342 00:14:50,560 --> 00:14:51,920 Speaker 1: But that's a good goal to have too. It's like 343 00:14:52,000 --> 00:14:54,280 Speaker 1: just fewer cars in general, even if that means not 344 00:14:54,320 --> 00:14:56,880 Speaker 1: getting an evy and getting around on your electric scooter 345 00:14:56,960 --> 00:14:57,640 Speaker 1: or bike exactly. 346 00:14:57,680 --> 00:15:00,320 Speaker 2: And it's fun, Yeah, it's fun, and it's just doesn't 347 00:15:00,320 --> 00:15:03,160 Speaker 2: sell because it's not sexy. It's not the new ev 348 00:15:03,400 --> 00:15:05,680 Speaker 2: that whatever company has just released, and so that's why 349 00:15:06,120 --> 00:15:08,840 Speaker 2: it's sort of like, again, man, I'm not gonna harp 350 00:15:08,880 --> 00:15:10,720 Speaker 2: on this. It's sort of like eating your leftovers. It's 351 00:15:10,720 --> 00:15:14,120 Speaker 2: sort of like buying you stuff from the thrift store. Nobody, 352 00:15:14,680 --> 00:15:15,560 Speaker 2: there's no shine. 353 00:15:15,600 --> 00:15:17,400 Speaker 1: It doesn't come in the package at all. It doesn't. 354 00:15:17,720 --> 00:15:19,440 Speaker 2: Yeah, it doesn't have that new package smell or the 355 00:15:19,920 --> 00:15:21,920 Speaker 2: new car smell. But it is the absolute best thing 356 00:15:21,960 --> 00:15:23,160 Speaker 2: for you to do when it comes to your money. 357 00:15:23,200 --> 00:15:24,920 Speaker 2: But we've got more stories to get to during this 358 00:15:24,920 --> 00:15:27,400 Speaker 2: Friday flight. We're gonna talk about gambling. We're gonna talk 359 00:15:27,400 --> 00:15:30,480 Speaker 2: about some changes that hopefully won't necessarily be coming to 360 00:15:30,560 --> 00:15:33,080 Speaker 2: your four one K. Those are two different stories, by 361 00:15:33,080 --> 00:15:35,240 Speaker 2: the way, but we'll get to all that right after this. 362 00:15:43,640 --> 00:15:45,520 Speaker 1: All Right, we're back. It's still the Friday Flight. Got 363 00:15:45,560 --> 00:15:47,600 Speaker 1: a lot more to cover on this episode, on this 364 00:15:47,760 --> 00:15:50,840 Speaker 1: special Black Friday edition of Health to Money and Matt, 365 00:15:50,880 --> 00:15:53,000 Speaker 1: We're not gonna talk about gambling inside of your four 366 00:15:53,040 --> 00:15:55,120 Speaker 1: O one K. That would be no, that'd be ill advice. 367 00:15:55,480 --> 00:15:58,400 Speaker 1: But something else it's ill advice and it's the ludicrous. 368 00:15:58,400 --> 00:16:01,520 Speaker 1: Headline of the week is just straight up sports gambling, right, 369 00:16:01,520 --> 00:16:04,280 Speaker 1: and this one comes from the publication The Conversation, and 370 00:16:04,320 --> 00:16:08,120 Speaker 1: the headline reads colleges face gambling addiction amongst students as 371 00:16:08,160 --> 00:16:13,840 Speaker 1: sports betting spreads and yeah, man, we've kind of smacked 372 00:16:13,920 --> 00:16:16,680 Speaker 1: sports gambling around for a while. I think of it 373 00:16:16,760 --> 00:16:20,520 Speaker 1: almost similarly to to cryptocurrency. It has a lot of 374 00:16:20,560 --> 00:16:23,400 Speaker 1: negative effects for a lot of people, maybe even worse. 375 00:16:23,400 --> 00:16:26,000 Speaker 1: And so the National Council on Problem Gambling found that 376 00:16:26,040 --> 00:16:28,400 Speaker 1: three and four college students have gambled in the past year, 377 00:16:28,760 --> 00:16:32,320 Speaker 1: and roughly six percent of the on campus population finds 378 00:16:32,320 --> 00:16:35,280 Speaker 1: themselves with a gambling addiction problem. And I don't want 379 00:16:35,320 --> 00:16:37,960 Speaker 1: to sound like a prude. That's certainly not the bent 380 00:16:38,480 --> 00:16:39,840 Speaker 1: that I come at this from, or that we come 381 00:16:39,840 --> 00:16:41,640 Speaker 1: at this from. I don't think it's not that we're 382 00:16:41,880 --> 00:16:44,680 Speaker 1: completely anti gambling. I have played blackjack before, and I 383 00:16:44,720 --> 00:16:47,440 Speaker 1: have found it to be entertaining. But and you liked it, 384 00:16:47,600 --> 00:16:50,840 Speaker 1: I did so. But the problem is, like this is 385 00:16:50,880 --> 00:16:52,440 Speaker 1: like something like three x what the rest of the 386 00:16:52,440 --> 00:16:54,600 Speaker 1: population is. How much of the rest of the population 387 00:16:54,640 --> 00:16:57,080 Speaker 1: suffers from a gambling addiction that college students are more 388 00:16:57,120 --> 00:17:00,520 Speaker 1: susceptible to. Yeah, And I think it makes sense on 389 00:17:00,600 --> 00:17:02,200 Speaker 1: a whole lot of ways. They're more likely to download 390 00:17:02,200 --> 00:17:04,600 Speaker 1: a sports scambling app and to test their skills. And 391 00:17:04,600 --> 00:17:07,720 Speaker 1: I use the term lightly because gambling doesn't really require skill. 392 00:17:07,720 --> 00:17:09,919 Speaker 1: I mean, I guess maybe some kinds of poker do 393 00:17:10,040 --> 00:17:13,080 Speaker 1: but certainly not sports scambling. Right, the house is always 394 00:17:13,119 --> 00:17:15,680 Speaker 1: going to win, and they're hooking young people who haven't 395 00:17:15,760 --> 00:17:20,160 Speaker 1: necessarily reached full brain maturation yet. It seems like a financial, 396 00:17:20,160 --> 00:17:23,359 Speaker 1: anti societal problem. And you and I were typically a 397 00:17:23,400 --> 00:17:27,440 Speaker 1: little more libertarian on stuff like this because I still 398 00:17:27,440 --> 00:17:29,800 Speaker 1: am yeah, yeah, yeah, And it's not like I want 399 00:17:29,800 --> 00:17:32,560 Speaker 1: the government to come in and necessarily shut down fan duel, 400 00:17:32,600 --> 00:17:36,240 Speaker 1: DraftKings whatever, all those crummey apps. But the ease with 401 00:17:36,280 --> 00:17:38,000 Speaker 1: which you can gamble on sports from the comfort of 402 00:17:38,040 --> 00:17:40,359 Speaker 1: your dorm room is pretty stink and scary. And I 403 00:17:40,359 --> 00:17:43,200 Speaker 1: think there's just an ethical question here too, especially when 404 00:17:43,320 --> 00:17:45,840 Speaker 1: states are making out like bandits, they're seeing dollar signs 405 00:17:46,119 --> 00:17:49,199 Speaker 1: for their coffers. If the amount of money they're going 406 00:17:49,240 --> 00:17:51,520 Speaker 1: to be able to make from these the percentage they 407 00:17:51,560 --> 00:17:54,720 Speaker 1: can take from these sports gambling companies, And so I 408 00:17:54,760 --> 00:17:58,320 Speaker 1: guess we don't really have any bigger policy ideas or 409 00:17:58,359 --> 00:18:00,119 Speaker 1: anything like that to mention all we can. All I 410 00:18:00,119 --> 00:18:03,280 Speaker 1: can say is stay away, and in particular, if you 411 00:18:03,359 --> 00:18:07,320 Speaker 1: are or if you have a college age child, it's 412 00:18:07,320 --> 00:18:09,560 Speaker 1: worth talking to them about this because it sounds like 413 00:18:09,600 --> 00:18:11,640 Speaker 1: this is a problem that's getting out of hand. Again 414 00:18:11,640 --> 00:18:13,960 Speaker 1: three and four have tried it, and a lot of 415 00:18:14,000 --> 00:18:16,080 Speaker 1: them are getting addicted to it. It's going to cost 416 00:18:16,080 --> 00:18:18,960 Speaker 1: them a lot of money and just mental sanity too, probably. 417 00:18:18,960 --> 00:18:22,680 Speaker 2: I think that's the problem specifically, So if you look 418 00:18:22,720 --> 00:18:26,320 Speaker 2: to win sports bedding became legalized or when the Supreme 419 00:18:26,359 --> 00:18:28,280 Speaker 2: Court ruled that it would be allowed in states, I 420 00:18:28,320 --> 00:18:29,800 Speaker 2: guess it was up to the state depending on where 421 00:18:29,840 --> 00:18:32,040 Speaker 2: you live. But I was only in twenty eighteen. And 422 00:18:32,119 --> 00:18:34,080 Speaker 2: so the fact is there's a whole I think generation 423 00:18:34,200 --> 00:18:38,600 Speaker 2: of college students and they haven't necessarily had the assistance 424 00:18:38,800 --> 00:18:42,080 Speaker 2: or the help from parents to help them to kind 425 00:18:42,080 --> 00:18:45,000 Speaker 2: of wade through these waters because it didn't really exist 426 00:18:45,119 --> 00:18:46,680 Speaker 2: while they were still at home. Yeah, and so you've 427 00:18:46,680 --> 00:18:48,720 Speaker 2: got all these college students who didn't they didn't have 428 00:18:48,720 --> 00:18:51,360 Speaker 2: parents who were speaking into their lives about this particular thing. 429 00:18:51,680 --> 00:18:53,480 Speaker 2: And so I think that makes it a little more 430 00:18:53,480 --> 00:18:56,560 Speaker 2: of a sticky situation in the current environment as opposed 431 00:18:56,600 --> 00:18:59,359 Speaker 2: to know, high school seniors today, this is going to 432 00:18:59,359 --> 00:19:01,600 Speaker 2: be something that hope parents are talking to their kids about, right, 433 00:19:01,640 --> 00:19:03,439 Speaker 2: and so as they go off, it's something it's but 434 00:19:03,480 --> 00:19:03,760 Speaker 2: I was. 435 00:19:03,680 --> 00:19:05,200 Speaker 1: Talking to do it the other day. Can I just 436 00:19:05,240 --> 00:19:08,000 Speaker 1: say this and my friend he said, I've never played 437 00:19:08,000 --> 00:19:10,639 Speaker 1: the lottery until I could buy those tickets on my phone, 438 00:19:10,840 --> 00:19:12,679 Speaker 1: And I think, sure, there's something about having it at 439 00:19:12,680 --> 00:19:16,080 Speaker 1: your fingertips and on far more addictive than like I 440 00:19:16,119 --> 00:19:18,879 Speaker 1: have to drive or fly to Vegas. Right exactly too. 441 00:19:19,000 --> 00:19:21,600 Speaker 1: Gamblers are more barriers, for sure, But I. 442 00:19:21,600 --> 00:19:23,800 Speaker 2: Guess I just just imagine if, for instance, sports betting 443 00:19:23,840 --> 00:19:26,040 Speaker 2: had been legal for the past thirty years or something 444 00:19:26,080 --> 00:19:28,479 Speaker 2: like that high schooler's going off to college, it wouldn't 445 00:19:28,480 --> 00:19:29,760 Speaker 2: be as big of a deal because it's like, Okay, 446 00:19:29,760 --> 00:19:33,280 Speaker 2: it's always been around this. We either do this responsibly 447 00:19:33,520 --> 00:19:35,280 Speaker 2: or there might be some folks who are saying, oh, yeah, 448 00:19:35,280 --> 00:19:37,640 Speaker 2: we that's not something we touch at all. Either way, 449 00:19:37,680 --> 00:19:40,520 Speaker 2: it's something that they have learned about, I guess, as 450 00:19:40,560 --> 00:19:43,800 Speaker 2: opposed to it being this completely novel thing that they're 451 00:19:43,920 --> 00:19:45,800 Speaker 2: being thrown into the deep end. Yeah, that's the part 452 00:19:45,840 --> 00:19:48,320 Speaker 2: that seems a little, I guess, a little more scary. 453 00:19:48,400 --> 00:19:51,200 Speaker 2: So okay, So, while we're talking about college and money, 454 00:19:51,359 --> 00:19:53,520 Speaker 2: we've talked a lot on the show about student loans. 455 00:19:53,600 --> 00:19:56,600 Speaker 2: We've talked about the price of college. We've even discussed 456 00:19:56,640 --> 00:19:59,200 Speaker 2: how while the sticker price of college has skyrocket to 457 00:19:59,240 --> 00:20:02,920 Speaker 2: the actual real that many students pay it in reality 458 00:20:02,960 --> 00:20:06,320 Speaker 2: hasn't risen nearly that fast, but that's not a terribly 459 00:20:06,440 --> 00:20:09,800 Speaker 2: transparent reality, and it's hard to make good decisions about 460 00:20:09,920 --> 00:20:12,600 Speaker 2: where to go to school when everything is opaque, when 461 00:20:12,640 --> 00:20:16,639 Speaker 2: you can't make good comparisons. Good news here, hundreds of 462 00:20:16,680 --> 00:20:20,359 Speaker 2: colleges they have agreed to make financial aid offers more 463 00:20:20,440 --> 00:20:23,920 Speaker 2: transparent last month. Basically, instead of every single financial aid 464 00:20:24,000 --> 00:20:26,960 Speaker 2: offer from the different colleges looking different, hundreds of schools 465 00:20:27,000 --> 00:20:30,320 Speaker 2: have gotten together and they've agreed to standardize some of 466 00:20:30,359 --> 00:20:32,760 Speaker 2: the looks, some of the language of the offers that 467 00:20:32,800 --> 00:20:35,199 Speaker 2: they're sending out, which is of course going to make 468 00:20:35,200 --> 00:20:39,560 Speaker 2: it easier for the prospective student to make an informed choice. 469 00:20:39,720 --> 00:20:41,200 Speaker 1: And so this is good, but. 470 00:20:42,000 --> 00:20:46,199 Speaker 2: It doesn't necessarily mean that it's going to revolutionize what 471 00:20:46,280 --> 00:20:47,919 Speaker 2: it is that students are paying to go off to college. 472 00:20:47,920 --> 00:20:49,919 Speaker 2: But we do think that this is a positive step 473 00:20:49,960 --> 00:20:52,400 Speaker 2: in the right direction. And actually we're going to talk 474 00:20:52,440 --> 00:20:56,400 Speaker 2: about financial aid all about that and the important FAFSA 475 00:20:56,880 --> 00:20:59,400 Speaker 2: with the FASA Guru next week. There are a whole 476 00:20:59,400 --> 00:21:02,040 Speaker 2: lot of changes that came to the fastest and updates 477 00:21:02,040 --> 00:21:04,119 Speaker 2: of them that were made we're going to discuss that 478 00:21:04,200 --> 00:21:05,879 Speaker 2: next Wednesday, so you can look forward to that. 479 00:21:06,000 --> 00:21:08,080 Speaker 1: And a delay in launching the FASTA form this year 480 00:21:08,119 --> 00:21:11,119 Speaker 1: which now comes out next month, and so this is 481 00:21:11,119 --> 00:21:14,480 Speaker 1: going to be like timely pertinent information. Oh yeah, and man, 482 00:21:14,560 --> 00:21:17,880 Speaker 1: the FASTA super crucial if you're hoping to get financial 483 00:21:17,880 --> 00:21:20,719 Speaker 1: aid for that college degree. Matt. Let's talk about cell 484 00:21:20,760 --> 00:21:23,120 Speaker 1: phones like we If you were to ask me, hey, 485 00:21:23,119 --> 00:21:26,200 Speaker 1: have cell phone plan prices gone down or gone up 486 00:21:26,320 --> 00:21:28,840 Speaker 1: in cost? My knee jerk reaction was to say it 487 00:21:28,880 --> 00:21:30,560 Speaker 1: would have been to say that they went down. But 488 00:21:30,920 --> 00:21:31,320 Speaker 1: calling the. 489 00:21:31,320 --> 00:21:34,719 Speaker 2: Cost of TVs, it seems like a positive step, you know, 490 00:21:34,800 --> 00:21:37,359 Speaker 2: as it comes to technology, the ability for us to 491 00:21:37,400 --> 00:21:38,399 Speaker 2: get things cheaper. 492 00:21:38,160 --> 00:21:41,920 Speaker 1: It seems like there's been deflation in that category. But 493 00:21:41,920 --> 00:21:43,520 Speaker 1: but I was wrong. I've just been swimming in the 494 00:21:43,520 --> 00:21:47,119 Speaker 1: how of money waters too long and I didn't realize that. No, no, no, all, 495 00:21:47,160 --> 00:21:51,200 Speaker 1: Clone Treer. The new stats show that the average cost 496 00:21:51,240 --> 00:21:53,479 Speaker 1: of a monthly cell phone bill has risen five percent 497 00:21:53,880 --> 00:21:57,119 Speaker 1: year over year, which means that the average American is 498 00:21:57,160 --> 00:21:59,399 Speaker 1: paying one hundred and nineteen dollars a month for their 499 00:21:59,440 --> 00:22:03,320 Speaker 1: cell phone. Shocking to me, truly shocking, insane and I've 500 00:22:03,320 --> 00:22:05,440 Speaker 1: seen other stats before it's something like eighty something dollars 501 00:22:05,480 --> 00:22:07,280 Speaker 1: a month, So who knows which one is right, But 502 00:22:07,440 --> 00:22:10,000 Speaker 1: either way, it's way too much money, right, And so 503 00:22:10,160 --> 00:22:13,480 Speaker 1: that average price increase is being blamed on inflation, but 504 00:22:13,920 --> 00:22:16,320 Speaker 1: we've actually seen deflation on the lower end of the 505 00:22:16,320 --> 00:22:19,560 Speaker 1: cell phone plan spectrum. The max that we believe almost 506 00:22:19,600 --> 00:22:21,920 Speaker 1: everyone should be paying is thirty bucks a month, which 507 00:22:21,920 --> 00:22:23,680 Speaker 1: is abt least obviously a lot less than one hundred 508 00:22:23,720 --> 00:22:26,000 Speaker 1: nineteen dollars a month. And by the way, the good 509 00:22:26,000 --> 00:22:28,159 Speaker 1: folks over at Mint Mobile, they're having a Black Friday 510 00:22:28,160 --> 00:22:30,320 Speaker 1: sale right now. We talked about Black Friday earlier. Well, 511 00:22:30,320 --> 00:22:32,639 Speaker 1: they're doing a buy three, get three months free. And 512 00:22:32,640 --> 00:22:35,720 Speaker 1: they're already one of the best discount carriers around anyway. 513 00:22:36,160 --> 00:22:37,879 Speaker 1: So if you're paying too much, if you are one 514 00:22:37,880 --> 00:22:40,840 Speaker 1: of those people paying triple digits every single month for 515 00:22:40,880 --> 00:22:43,159 Speaker 1: your cell phone service, what are you doing? Yeah, like, 516 00:22:43,520 --> 00:22:46,399 Speaker 1: do something different, do some self introspection. And there are 517 00:22:46,440 --> 00:22:49,520 Speaker 1: others that question some of the choices we've made. Yeah, exactly. Oh, 518 00:22:49,560 --> 00:22:52,160 Speaker 1: there are other great discount carriers too. It's not just Mint. 519 00:22:52,200 --> 00:22:54,719 Speaker 1: There's Google five that we've talked about before. There's visible, 520 00:22:54,760 --> 00:22:57,000 Speaker 1: there's boost. There are a lot of great choices for you. 521 00:22:57,400 --> 00:22:59,480 Speaker 1: But the reason I would have said deflation is because 522 00:22:59,480 --> 00:23:02,200 Speaker 1: I remember when not too long ago, they actually kept 523 00:23:02,200 --> 00:23:03,879 Speaker 1: the price the same, but they increased the amount of 524 00:23:03,960 --> 00:23:06,000 Speaker 1: data that everyone got and they didn't charge anybody to 525 00:23:06,040 --> 00:23:08,440 Speaker 1: dime for it. So if you're like, okay, cool, it's 526 00:23:08,480 --> 00:23:10,239 Speaker 1: time to switch, and wait a second, there's a buy 527 00:23:10,280 --> 00:23:12,920 Speaker 1: three you get three for three free promotion. I guess 528 00:23:12,960 --> 00:23:15,199 Speaker 1: maybe that should be my clue and we'll link to 529 00:23:15,240 --> 00:23:17,440 Speaker 1: it in the show notes. But it's definitely it's definitely 530 00:23:17,480 --> 00:23:19,640 Speaker 1: something worth pursuing. If you're gonna get any Black Friday deal, 531 00:23:19,680 --> 00:23:20,960 Speaker 1: this might be the one. Yeah. 532 00:23:21,040 --> 00:23:23,040 Speaker 2: Well, and specifically it's the one they're highlighting, of course. 533 00:23:23,080 --> 00:23:25,919 Speaker 2: But they're unlimited plan, which means for ninety bucks you 534 00:23:25,960 --> 00:23:28,879 Speaker 2: get unlimited data for six months, which is great. I mean, 535 00:23:28,920 --> 00:23:30,680 Speaker 2: think about it again, it was like one hundred and 536 00:23:30,680 --> 00:23:34,600 Speaker 2: twenty bucks on average for one month, or ninety dollars 537 00:23:34,600 --> 00:23:38,240 Speaker 2: and having limited data for six months. The times they 538 00:23:38,240 --> 00:23:42,080 Speaker 2: actually even got on board this past week, with what 539 00:23:42,119 --> 00:23:44,399 Speaker 2: we've been saying for years, we're certainly glad to have 540 00:23:44,480 --> 00:23:47,600 Speaker 2: the Gray Lady on board, just maybe five years late. 541 00:23:48,040 --> 00:23:48,960 Speaker 1: But better late than ever. 542 00:23:49,359 --> 00:23:52,600 Speaker 2: It's like, finally discount cell phone service providers have been 543 00:23:52,720 --> 00:23:55,200 Speaker 2: have they finally become in vogue? And I don't know 544 00:23:55,240 --> 00:23:57,280 Speaker 2: if that's because of Ryan red I mean hopefully we Yeah, 545 00:23:57,320 --> 00:24:01,080 Speaker 2: well he's come along. I think he's presence has allowed 546 00:24:01,080 --> 00:24:03,000 Speaker 2: folks to be like, Okay, yeah, maybe this isn't so bad. 547 00:24:03,080 --> 00:24:04,960 Speaker 2: Him and Blake Lively are down with this. 548 00:24:05,040 --> 00:24:06,720 Speaker 1: Yea. We were saying it for years, but until Ryan 549 00:24:06,760 --> 00:24:08,000 Speaker 1: Reynolds says that no one cares. 550 00:24:08,080 --> 00:24:11,480 Speaker 2: Now everybody cares. But one thing they mentioned in that article, though, 551 00:24:11,640 --> 00:24:13,679 Speaker 2: was is actually a good point. You can try a 552 00:24:13,720 --> 00:24:17,159 Speaker 2: discount carrier for free before you actually make the full switch. 553 00:24:17,400 --> 00:24:21,119 Speaker 2: For instance, Mint they offer a seven day free trial. 554 00:24:21,400 --> 00:24:23,920 Speaker 2: It's just kind of like Carvana back, like give it 555 00:24:23,960 --> 00:24:26,600 Speaker 2: a shot, there's no risk. You don't even have to 556 00:24:26,680 --> 00:24:29,480 Speaker 2: cancel with the big wireless provider that you're you're currently with. 557 00:24:29,680 --> 00:24:33,040 Speaker 2: Just try out the new plan, the new card. Google 558 00:24:33,080 --> 00:24:35,760 Speaker 2: five they offer seven days for free as well. Visible 559 00:24:36,040 --> 00:24:39,320 Speaker 2: they offer fifteen days for free, which is awesome. So 560 00:24:39,800 --> 00:24:41,119 Speaker 2: go out there to fund the right m v and 561 00:24:41,200 --> 00:24:43,919 Speaker 2: O for you. The Mobile Virtual Network Operator is what 562 00:24:43,960 --> 00:24:46,560 Speaker 2: that stands for mvn O. But give it a go, 563 00:24:46,920 --> 00:24:49,560 Speaker 2: and if the service is solid and turns out most 564 00:24:49,560 --> 00:24:52,240 Speaker 2: folks they see little to no difference in the coverage 565 00:24:52,440 --> 00:24:54,920 Speaker 2: that is available to them. If you like it, then 566 00:24:54,960 --> 00:24:56,160 Speaker 2: go ahead and make the full switch. 567 00:24:56,200 --> 00:24:57,920 Speaker 1: And if you think we're idiots, if you think we're buffoons, 568 00:24:57,920 --> 00:24:59,879 Speaker 1: you try and mim mobile for seven days and you're like, 569 00:25:00,040 --> 00:25:02,680 Speaker 1: this is trash, this is way inferior to my Horizon service, 570 00:25:02,680 --> 00:25:04,720 Speaker 1: well then check out Visible because that's on Horizon's network. 571 00:25:04,720 --> 00:25:06,399 Speaker 1: And then if you're like, wait a second, no, this 572 00:25:06,440 --> 00:25:08,840 Speaker 1: is trash too, well, then stick with your really expensive stuff. 573 00:25:08,880 --> 00:25:10,200 Speaker 1: If it means that much to you, and if it's 574 00:25:10,240 --> 00:25:11,760 Speaker 1: that much better, then go with it. It's just that 575 00:25:11,800 --> 00:25:14,679 Speaker 1: most people don't experience a significant downgrade or really even 576 00:25:14,760 --> 00:25:17,119 Speaker 1: notice a difference. Something else, Matt, that's gone up in 577 00:25:17,119 --> 00:25:20,840 Speaker 1: price substantially. Insurance rates like that's both on cars and homes, 578 00:25:21,119 --> 00:25:23,840 Speaker 1: and rates have risen something like nine percent through just 579 00:25:23,880 --> 00:25:26,960 Speaker 1: the first three quarters of twenty twenty three. There's been 580 00:25:27,240 --> 00:25:29,240 Speaker 1: some hullabaloo and the how to Money Facebook group about 581 00:25:29,240 --> 00:25:31,919 Speaker 1: this this very thing, And there was an article actually 582 00:25:31,960 --> 00:25:36,240 Speaker 1: in a online publication called Autopian about how adjusters Autopian 583 00:25:36,359 --> 00:25:41,280 Speaker 1: Autopian Auto Yeah, Utopia, right, yeah, Autopia and so kind 584 00:25:41,280 --> 00:25:43,960 Speaker 1: of like Carvana, like very similar sort of naming mechanism. 585 00:25:44,160 --> 00:25:46,480 Speaker 1: But it was about how adjusters are totaling cars more 586 00:25:46,520 --> 00:25:50,840 Speaker 1: often because of the increased costs of repair, and this 587 00:25:50,880 --> 00:25:53,680 Speaker 1: is only contributing into like a rate increased spiral, right, 588 00:25:54,000 --> 00:25:55,920 Speaker 1: And this happened to me like when my old van 589 00:25:56,080 --> 00:25:57,760 Speaker 1: in the spring, when I got rear ended, it was 590 00:25:57,760 --> 00:26:01,040 Speaker 1: totaled and it probably it could have been saved, right, 591 00:26:01,080 --> 00:26:03,720 Speaker 1: But it's just kind of airing on the side of caution. 592 00:26:03,800 --> 00:26:06,199 Speaker 1: A lot of adjusters are saying, uh no, we're scrapping it, 593 00:26:06,400 --> 00:26:08,880 Speaker 1: and so there's no perfect solution for what to do, 594 00:26:09,119 --> 00:26:11,720 Speaker 1: but shopping around is basically the best thing you possibly 595 00:26:11,760 --> 00:26:14,520 Speaker 1: can do on this one. Insurers have different algorithms for 596 00:26:14,960 --> 00:26:16,760 Speaker 1: setting rates. I don't know if any of them are 597 00:26:16,760 --> 00:26:19,280 Speaker 1: offering Black Friday deals or not, but we would say 598 00:26:19,320 --> 00:26:21,800 Speaker 1: chieving out and reducing coverage is typically not your best 599 00:26:21,800 --> 00:26:24,359 Speaker 1: bet unless you have an old car and you're dropping 600 00:26:24,359 --> 00:26:26,439 Speaker 1: full coverage and you can self ensure if you need 601 00:26:26,480 --> 00:26:29,240 Speaker 1: to replace that car. But hiring a local independent agent 602 00:26:29,320 --> 00:26:31,720 Speaker 1: via a site like Trusted choice dot com that can 603 00:26:31,760 --> 00:26:33,600 Speaker 1: be the smart, savvy way to proceed because I know 604 00:26:33,640 --> 00:26:36,760 Speaker 1: that this is a pain point people's budgets, Matt, because yeah, 605 00:26:36,760 --> 00:26:39,040 Speaker 1: it's nine percent for some people, but for other folks 606 00:26:39,080 --> 00:26:41,680 Speaker 1: in other places it's thirty forty percent increases, and that 607 00:26:42,280 --> 00:26:43,680 Speaker 1: can be hard to stomach if it can feel like 608 00:26:43,720 --> 00:26:45,919 Speaker 1: a gut punch. The only way really to combat this 609 00:26:46,119 --> 00:26:47,640 Speaker 1: is to not be loyal, and it is to shop 610 00:26:47,680 --> 00:26:50,560 Speaker 1: around every time that happens and try to find a 611 00:26:50,640 --> 00:26:53,160 Speaker 1: decent insurer that will offer you a better price. 612 00:26:53,160 --> 00:26:56,280 Speaker 2: Or by completely dropping a car from your life altogether, 613 00:26:56,359 --> 00:26:58,199 Speaker 2: then you don't have to ensure that badmoy anymore. We 614 00:26:58,200 --> 00:27:01,000 Speaker 2: actually dedicated an entire episode to that. Was that last 615 00:27:01,080 --> 00:27:03,120 Speaker 2: year or maybe even two years ago. Maybe we'll link 616 00:27:03,160 --> 00:27:05,000 Speaker 2: to that. We will link to that in the show 617 00:27:05,000 --> 00:27:07,960 Speaker 2: notes during this episode. But big savings on multiple fronts 618 00:27:07,960 --> 00:27:10,320 Speaker 2: theres Yes, absolutely. It just made me think too. I've 619 00:27:10,320 --> 00:27:13,560 Speaker 2: received a notice from my car insure saying that hey, 620 00:27:14,040 --> 00:27:18,000 Speaker 2: your low mileage discount renewal is up. Click here to 621 00:27:18,040 --> 00:27:20,439 Speaker 2: update your mileage to make sure that you still maintain 622 00:27:20,720 --> 00:27:23,760 Speaker 2: that used to qualify for your low mileage discount. And 623 00:27:23,800 --> 00:27:26,280 Speaker 2: I got a little nervous because this first time on 624 00:27:26,400 --> 00:27:29,199 Speaker 2: the CUSP, I don't know. I went ahead and submitted it. 625 00:27:29,280 --> 00:27:32,280 Speaker 2: But we've moved and we're doing a lot more driving. 626 00:27:32,840 --> 00:27:34,359 Speaker 2: Kate commutes the kids up to school and it's like 627 00:27:34,400 --> 00:27:38,359 Speaker 2: a thirty mile minimum a day trip, which back in 628 00:27:38,400 --> 00:27:40,400 Speaker 2: the day, dude, we weren't driving anywhere. And so I'm 629 00:27:40,400 --> 00:27:42,600 Speaker 2: a little personally. I'm a little nervous as well. I'm 630 00:27:42,600 --> 00:27:44,520 Speaker 2: going to continue to see my curR insurance go up 631 00:27:44,520 --> 00:27:47,840 Speaker 2: even more. Might have to take some potentially drastic steps 632 00:27:47,840 --> 00:27:49,040 Speaker 2: in order to get that. 633 00:27:48,960 --> 00:27:53,280 Speaker 1: Insurance insurance down. I suggest blackmail for your insurance agent. 634 00:27:53,280 --> 00:27:54,440 Speaker 1: That's one way to go about it. I'll give it 635 00:27:54,480 --> 00:27:54,720 Speaker 1: a shot. 636 00:27:54,760 --> 00:27:57,800 Speaker 2: Man. Let's talk about four one k's, because there are 637 00:27:58,080 --> 00:27:59,960 Speaker 2: at least some four to one K matches that are 638 00:28:00,080 --> 00:28:03,360 Speaker 2: falling by the wayside. They're getting asked at some employers, 639 00:28:03,400 --> 00:28:07,600 Speaker 2: big companies like IBM and iHeart, they either have or 640 00:28:07,920 --> 00:28:10,480 Speaker 2: are eliminating that perk, that four to one K match 641 00:28:10,880 --> 00:28:14,200 Speaker 2: for their employees this year. Lots of employers actually took 642 00:28:14,200 --> 00:28:16,520 Speaker 2: that route during the worst part of COVID when the 643 00:28:16,600 --> 00:28:20,480 Speaker 2: future was largely unknown. But it's honestly surprising to see 644 00:28:20,480 --> 00:28:23,280 Speaker 2: this benefit being taken away while things are overall doing 645 00:28:23,280 --> 00:28:25,320 Speaker 2: pretty well. It seems like the economy is doing solid. 646 00:28:25,600 --> 00:28:28,879 Speaker 2: In the case of IBM, it's going to be pretty 647 00:28:28,880 --> 00:28:31,600 Speaker 2: demoralizing though, to see that five percent match vanish in 648 00:28:31,800 --> 00:28:35,560 Speaker 2: twenty twenty four. Luckily, this isn't a trend, at least 649 00:28:35,680 --> 00:28:36,920 Speaker 2: not yet, not that we've noticed. 650 00:28:37,040 --> 00:28:38,480 Speaker 1: Yeah, but it might. 651 00:28:38,360 --> 00:28:40,880 Speaker 2: Be because as said the article again, we'll link to it. 652 00:28:40,880 --> 00:28:42,560 Speaker 2: In the show notes, they talked about how IBM has 653 00:28:42,600 --> 00:28:45,200 Speaker 2: often set the trend like they have been sort of 654 00:28:45,240 --> 00:28:46,720 Speaker 2: a forerunner when it comes to how a lot of 655 00:28:46,880 --> 00:28:51,160 Speaker 2: larger employees are able to provide benefits employers. Yeah, I'm sorry, 656 00:28:51,160 --> 00:28:54,600 Speaker 2: employers provide benefits for their employees. But in the case 657 00:28:54,640 --> 00:28:57,880 Speaker 2: of IBM, it's interesting because they are taking away the match, 658 00:28:57,920 --> 00:28:59,920 Speaker 2: but they're still putting away that five percent of it 659 00:29:00,000 --> 00:29:04,400 Speaker 2: employee annual salary their income towards like a defined benefit plan. 660 00:29:04,720 --> 00:29:06,320 Speaker 2: So there's good there's a good side of this, and 661 00:29:06,360 --> 00:29:08,040 Speaker 2: there's a bad side of it. The good side is 662 00:29:08,040 --> 00:29:10,320 Speaker 2: that what it means is that regardless of what you contribute, 663 00:29:10,760 --> 00:29:13,160 Speaker 2: you will still get that five percent, which is pretty sweet, right, 664 00:29:13,240 --> 00:29:16,000 Speaker 2: And what that means is that now everybody gets to 665 00:29:16,040 --> 00:29:20,040 Speaker 2: participate basically one hundred percent participation, which is which is awesome, 666 00:29:20,320 --> 00:29:23,280 Speaker 2: But the downside is that it's like a defined benefit plan, 667 00:29:23,360 --> 00:29:26,640 Speaker 2: it's like a pension, and that money isn't invested like 668 00:29:26,680 --> 00:29:30,600 Speaker 2: you're just receiving a flat six percent. And so they're 669 00:29:30,600 --> 00:29:32,720 Speaker 2: good is that everyone gets to play. The bad is 670 00:29:32,760 --> 00:29:36,640 Speaker 2: that there's a limited upside to what those dollars are 671 00:29:36,640 --> 00:29:38,800 Speaker 2: doing from you. And when you're talking about trying to 672 00:29:38,840 --> 00:29:41,200 Speaker 2: achieve some sort of sense of financial freedom, you need 673 00:29:41,240 --> 00:29:43,560 Speaker 2: to be investing your dollars and six percent is barely 674 00:29:43,640 --> 00:29:45,240 Speaker 2: higher than what you can earn in a high old 675 00:29:45,280 --> 00:29:47,520 Speaker 2: savings the camera right now. I mean, dude, even the 676 00:29:47,560 --> 00:29:50,680 Speaker 2: SMP over the past week, we've seen like a ten 677 00:29:50,720 --> 00:29:54,000 Speaker 2: percent increase in a single week. We're talking to six 678 00:29:54,040 --> 00:29:55,320 Speaker 2: percent over the course. 679 00:29:55,160 --> 00:29:57,720 Speaker 1: Of a year. You do that market exposure, you need that. 680 00:29:57,760 --> 00:30:00,640 Speaker 2: You need that volatility especially and by latility, I mean 681 00:30:00,680 --> 00:30:04,120 Speaker 2: the ability to potentially see outsize returns, especially when you 682 00:30:04,160 --> 00:30:05,880 Speaker 2: are in that wealth building phase of your life. 683 00:30:05,960 --> 00:30:07,720 Speaker 1: Yeah, all right, let's keep talking about four one k's man. 684 00:30:07,720 --> 00:30:09,520 Speaker 1: And by the way, if that happens, if your four 685 00:30:09,560 --> 00:30:12,520 Speaker 1: one k gets axed by your employer, it's a it's 686 00:30:12,560 --> 00:30:15,640 Speaker 1: a good idea to well probably prioritize the roth ira 687 00:30:15,840 --> 00:30:18,520 Speaker 1: above the four one K then and also maybe start 688 00:30:18,600 --> 00:30:21,080 Speaker 1: looking for another job, because it could be riding on 689 00:30:21,080 --> 00:30:23,200 Speaker 1: the wall saying, hey, this company is not in a 690 00:30:23,200 --> 00:30:26,520 Speaker 1: healthy spot financially. So yeah, you might be forced out 691 00:30:26,520 --> 00:30:28,920 Speaker 1: the door anyway, but you can also try to find 692 00:30:28,920 --> 00:30:31,800 Speaker 1: an employer who has better benefits and maybe better pay 693 00:30:31,800 --> 00:30:32,320 Speaker 1: at the same time. 694 00:30:32,360 --> 00:30:34,280 Speaker 2: Yeah, don't necessarily run for the doors, but that should 695 00:30:34,280 --> 00:30:35,920 Speaker 2: be a red flag, be like, what's. 696 00:30:35,720 --> 00:30:38,520 Speaker 1: Going on here? Yeah, yeah, yeah, it's it'd be like 697 00:30:38,560 --> 00:30:41,680 Speaker 1: you're significant others saying they don't like smoke turkey, and 698 00:30:42,560 --> 00:30:44,800 Speaker 1: you know, Matt would run away from that relationship. But 699 00:30:45,040 --> 00:30:47,640 Speaker 1: there's there's red flags. That's all gonna say, exactly, all right, 700 00:30:47,680 --> 00:30:49,680 Speaker 1: more bummer news on the retirement front though, four one 701 00:30:49,720 --> 00:30:53,000 Speaker 1: K hardship withdrawals. They're up significantly since the beginning of 702 00:30:53,000 --> 00:30:57,440 Speaker 1: the year, and basically withdrawals are up twenty eight percent 703 00:30:57,520 --> 00:31:00,000 Speaker 1: year over year. So people taking money from their retirement 704 00:31:00,080 --> 00:31:03,000 Speaker 1: account that's meant to fund those decades when they're not 705 00:31:03,080 --> 00:31:05,600 Speaker 1: working in the future, right, and barn someth it up. Well, 706 00:31:05,600 --> 00:31:08,280 Speaker 1: they said that retirement accounts are the new emergency fund, 707 00:31:08,560 --> 00:31:10,480 Speaker 1: which is scary, yep, but true. 708 00:31:10,640 --> 00:31:12,000 Speaker 2: This is why that's what's happening. 709 00:31:12,040 --> 00:31:15,040 Speaker 1: You need an actual emergency fund so your retirement account 710 00:31:15,080 --> 00:31:19,560 Speaker 1: doesn't turn into your emergency fund cascading, causing other financial 711 00:31:19,560 --> 00:31:22,840 Speaker 1: problems in your life. Right, this is a horrible way 712 00:31:22,880 --> 00:31:25,240 Speaker 1: to access money. And people are taking out on average 713 00:31:25,400 --> 00:31:28,720 Speaker 1: five thousand bucks from their tax advantaged account to use 714 00:31:28,800 --> 00:31:32,600 Speaker 1: for current expenses. And I realize that some people it's 715 00:31:32,640 --> 00:31:35,080 Speaker 1: like they've got no other place to turn. But that 716 00:31:35,240 --> 00:31:37,680 Speaker 1: is why we talk about having the e fund set 717 00:31:37,720 --> 00:31:40,360 Speaker 1: aside before you start investing, because Matt, you made this 718 00:31:40,400 --> 00:31:44,280 Speaker 1: mistake early on with your roth iras the roth ira 719 00:31:44,400 --> 00:31:46,080 Speaker 1: is the ticket to building wealth, and you're like, it's 720 00:31:46,080 --> 00:31:48,480 Speaker 1: a done, twenty two year old, Great, I'm in. But 721 00:31:48,480 --> 00:31:50,240 Speaker 1: then you had to pull it out because you didn't 722 00:31:50,240 --> 00:31:53,080 Speaker 1: have enough money in savings to cover an emergency that 723 00:31:53,120 --> 00:31:53,520 Speaker 1: came up. 724 00:31:53,680 --> 00:31:57,600 Speaker 2: And this is the way. It's just moving costs. I 725 00:31:57,640 --> 00:31:58,560 Speaker 2: just needed a little bit of cash. 726 00:31:58,600 --> 00:32:00,320 Speaker 1: I feel like a pack of gum the whole over 727 00:32:00,760 --> 00:32:04,120 Speaker 1: a two liter of Coca cola. But yeah, there are 728 00:32:04,160 --> 00:32:05,800 Speaker 1: so many downsides that taking money out of your four 729 00:32:05,800 --> 00:32:07,960 Speaker 1: one K means it does dollars no longer growing for 730 00:32:08,040 --> 00:32:11,960 Speaker 1: your future. You're also going to owe tax and penalty 731 00:32:12,040 --> 00:32:14,080 Speaker 1: on the money that you take out as well. So 732 00:32:14,280 --> 00:32:17,840 Speaker 1: before you tap your four one k for money, think twice, right, 733 00:32:17,840 --> 00:32:20,560 Speaker 1: there are ways to borrow from your four one k 734 00:32:20,640 --> 00:32:23,880 Speaker 1: to take a loan, which also isn't typically advisable. It's 735 00:32:24,320 --> 00:32:26,480 Speaker 1: there are some circumstances where that makes sense, but a 736 00:32:26,520 --> 00:32:30,040 Speaker 1: hardship withdrawal is bad news. Bears to see those numbers 737 00:32:30,120 --> 00:32:32,840 Speaker 1: jumping as much as they are in that space, which 738 00:32:32,840 --> 00:32:35,520 Speaker 1: just makes me nervous about the financial situation of Americans. 739 00:32:35,560 --> 00:32:37,920 Speaker 1: And it would be better for you not to stick 740 00:32:37,960 --> 00:32:40,080 Speaker 1: the money in in the first place, then to pull 741 00:32:40,120 --> 00:32:42,560 Speaker 1: it out like that, sticking into a hile savings account instead, 742 00:32:42,880 --> 00:32:45,840 Speaker 1: and then once you're you've got enough of a buffer, 743 00:32:46,040 --> 00:32:47,800 Speaker 1: that's when you can start funneling money into your tax 744 00:32:47,800 --> 00:32:48,960 Speaker 1: advantage retirement accounts. 745 00:32:49,000 --> 00:32:51,600 Speaker 2: Absolutely all right, man, I think that's gonna be it 746 00:32:51,800 --> 00:32:55,360 Speaker 2: for this Friday flight, the Friday flight after Thanksgiving. We 747 00:32:55,440 --> 00:32:58,800 Speaker 2: hope everyone has a wonderful time with your family. Stay 748 00:32:58,800 --> 00:33:01,280 Speaker 2: safe on the roads out there, which also, by the way, 749 00:33:01,280 --> 00:33:03,719 Speaker 2: a great time to uh, not only listen to podcasts, 750 00:33:03,720 --> 00:33:05,360 Speaker 2: it's always just great too hit hit the road and 751 00:33:05,600 --> 00:33:08,360 Speaker 2: listen to audiobooks. Didn't listen to anything recently. 752 00:33:08,480 --> 00:33:11,400 Speaker 1: Yeah, so right now I am listening to the Sun 753 00:33:11,440 --> 00:33:13,200 Speaker 1: also Rises by Ernest Hemingway. 754 00:33:13,280 --> 00:33:16,760 Speaker 2: Oh some classics man, Okay, So Project Hill Mary it's 755 00:33:16,760 --> 00:33:18,520 Speaker 2: been out, it's been published for a while now, but 756 00:33:18,600 --> 00:33:21,280 Speaker 2: specifically the audiobook, Dude, is so good. I've found so 757 00:33:21,360 --> 00:33:23,760 Speaker 2: much enjoyment because the the guy that's reading it reading 758 00:33:23,800 --> 00:33:26,560 Speaker 2: it is it's phenomenal. It's literally, I think, the best 759 00:33:26,600 --> 00:33:27,600 Speaker 2: audiobook I've ever listened to. 760 00:33:27,680 --> 00:33:28,160 Speaker 1: It's amazing. 761 00:33:28,320 --> 00:33:30,120 Speaker 2: I don't want to like oversell it or anything like that, 762 00:33:30,160 --> 00:33:32,680 Speaker 2: but if you're into sci fi and you're looking looking 763 00:33:32,680 --> 00:33:34,560 Speaker 2: for a good book, man, that's a Project Hill Mary. 764 00:33:34,640 --> 00:33:37,600 Speaker 1: That's a real tangy weird so being able to read books, well, 765 00:33:37,680 --> 00:33:40,360 Speaker 1: it's amazing. He does all the accents as well. Not 766 00:33:40,360 --> 00:33:42,880 Speaker 1: not only that, but he's Yeah, I don't want to 767 00:33:42,880 --> 00:33:45,520 Speaker 1: give anything away, but there's a in particular, there's a 768 00:33:45,600 --> 00:33:49,400 Speaker 1: very good special accent that he does does as well. Well. 769 00:33:49,400 --> 00:33:52,120 Speaker 1: The actor William Hurt reads this son all right, he's 770 00:33:52,120 --> 00:33:53,600 Speaker 1: got a great It makes all the difference. 771 00:33:53,600 --> 00:33:56,880 Speaker 2: It makes me think, should we go to like vocal coaching, 772 00:33:57,760 --> 00:34:00,800 Speaker 2: probably you should just talk different and you realize so yeah, 773 00:34:00,800 --> 00:34:01,680 Speaker 2: we probably won't do that. 774 00:34:01,960 --> 00:34:04,160 Speaker 1: We should get better, but we're always trying to do that. 775 00:34:04,160 --> 00:34:05,520 Speaker 1: And if you have a suggestion for how we can 776 00:34:05,520 --> 00:34:07,840 Speaker 1: get better, we've actually got let us know. We've got 777 00:34:07,880 --> 00:34:09,640 Speaker 1: a place on the website how to money dot com 778 00:34:09,640 --> 00:34:11,399 Speaker 1: slash do better. You can just email us to drive 779 00:34:11,480 --> 00:34:13,480 Speaker 1: us a line, say hey, listen, guys, you could really 780 00:34:13,840 --> 00:34:15,960 Speaker 1: pick up the slack on this end. But yeah, you 781 00:34:15,960 --> 00:34:17,759 Speaker 1: can also go to the website check out other things. 782 00:34:17,880 --> 00:34:19,399 Speaker 1: There's a lot. Like we said at the beginning, there's 783 00:34:19,400 --> 00:34:21,080 Speaker 1: a lot more content there, and you can always sign 784 00:34:21,120 --> 00:34:23,239 Speaker 1: up for the how to Money newsletter at how to money 785 00:34:23,239 --> 00:34:24,960 Speaker 1: dot com slash newsletter. But Matt, that's going to do 786 00:34:24,960 --> 00:34:27,640 Speaker 1: it for this one until next time. Best Friends album. 787 00:34:27,480 --> 00:34:44,040 Speaker 2: Best Friends out Right. 788 00:34:45,200 --> 00:34:46,520 Speaker 1: I was listening to it some yesterday. 789 00:34:49,200 --> 00:34:50,480 Speaker 2: So much fun.