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Speaker 1: Welcome to a Head of Money.

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

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Speaker 3: Matt, I'm Kate, I'm Emily.

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Speaker 1: And today we're having a conversation with our better habs.

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Speaker 2: Yeah. So normally we've got a little introduction, like a

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Speaker 2: little biography or whoever we're talking with, but I think

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Speaker 2: today we're just gonna start talking. This is the podcast, guys.

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Speaker 1: Emily was born on a snowy January evening.

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Speaker 3: This is true.

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Speaker 2: Yes, I was, so everyone knows this is uh. Once

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Speaker 2: a year we try to sit down with our wives

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Speaker 2: at the beach and we were blend work with play

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Speaker 2: a little bit, and so we get to crank out

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Speaker 2: an episode while we're at the beach, and so this

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Speaker 2: is something we've done before. Of course, maybe we'll link

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Speaker 2: to some of the previous Wives episodes from the past

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Speaker 2: and the show notes for this one.

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Speaker 1: And if you don't do these episodes, people just burn

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Speaker 1: it all down. They get angry, they want to hear it. Yeah,

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Speaker 1: they love these three peet appearances. What this means, though,

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Speaker 1: is that we have heard from y'all. And I'm pretty

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Speaker 1: sure we've talked through craft beer equivalents, but do you

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Speaker 1: have a new craft beer equivalent Emily, do you want

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Speaker 1: to kick things off? What it is that you're splurging

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Speaker 1: and spending money on That might seem like a waste

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Speaker 1: of money, but to you it means everything.

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Speaker 3: This is a bit embarrassing, but I have started to

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Speaker 3: mil my own wheat.

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Speaker 1: Martha Stewart, the petty Crocker, splurged.

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Speaker 3: On some wheat berries and also a bread machine, which

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Speaker 3: we have not talked about yet.

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Speaker 2: Bread machine or an actual bread machine. Killer.

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Speaker 3: No, both both of them. I've on both.

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Speaker 2: Christ Jewel, you got to go into the deep end.

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Speaker 2: You got Emily the mill for Mother's Day. For Mother's Day.

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Speaker 2: I haven't heard about the bread machine.

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Speaker 1: It just came in the mail, So we're gonna give.

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Speaker 3: It came in the mail. Why would he have been here?

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Speaker 1: Yeah?

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Speaker 3: Can I can say more?

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Speaker 2: I want to know how much you spent on it.

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Speaker 2: That's what I want to now, at least Oh.

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Speaker 3: On the on the wheat berries. I think I spent

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Speaker 3: on the bread maker. Oh on the breadmaker, dude.

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Speaker 1: It's yeah, it's not cheap. It's like three hundred and

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Speaker 1: fifty bucks.

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Speaker 2: That's not bad. It's like a nice a place.

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Speaker 1: So here's how I'm thinking.

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Speaker 3: In the milk.

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Speaker 1: If we save a dollar a loaf on every and

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Speaker 1: it's this And by the way, the bread that you're

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Speaker 1: able to make is just far s appearance much better

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Speaker 1: for you. It tastes much better. And if we just

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Speaker 1: stop buying bread at the store, it's gonna it will

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Speaker 1: overtime be a money save.

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Speaker 3: We can't take bought bread at the store since I

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Speaker 3: got the wheat berries nice. And what we discovered is

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Speaker 3: that I'm not home enough to make co made bread

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Speaker 3: even though I've entered.

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Speaker 2: Into this hobby bread machine.

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Speaker 3: So now we're still spending more money to make sure

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Speaker 3: my hobby works.

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Speaker 2: Officially, feel I don't want you to save it like

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Speaker 2: the full point of beer, Like, we're not saving money

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Speaker 2: by buying craft beer. It's not like that. This is

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Speaker 2: money that so like even thinking about it from the

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Speaker 2: standpoint of like, oh, this is going to save us

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Speaker 2: a dollar a loaf like that is in my opinion,

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Speaker 2: that is like the incorrect way of thinking about a

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Speaker 2: craft beer equivalent, like man's telling us wrong, you should

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Speaker 2: be doing it.

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Speaker 3: It's really fun. I love to bake, but it's delicious.

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Speaker 3: I love to bake, my kids love to bake. It

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Speaker 3: has actually been really fun. Yeah, so we tasty and

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Speaker 3: tasty and we're into it, and we eat a lot

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Speaker 3: of carbs. So I'm like, well, these are great carbs

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Speaker 3: that we're eating.

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Speaker 2: So we have been the benefactors of some of that

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Speaker 2: wonderfully hard red grain, for instance, is the term I

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Speaker 2: don't think I've ever said in my life until.

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Speaker 3: Yes, you got your milk, until I got three giant

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Speaker 3: like sixty four.

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Speaker 2: Pound Kate, you have an updated craft beer equivalent.

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Speaker 4: Oh no, I'm pretty sure mine is still plants. Still

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Speaker 4: have you said still plants? Oh, I'm sure I've said it.

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Speaker 4: I can't imagine what else I would have said. Okay,

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Speaker 4: it is just that. And actually really haven't had a

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Speaker 4: lot of plants recently.

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Speaker 1: It does like a jungle in your house. And I

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Speaker 1: mean that as a compliment.

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Speaker 3: Just keep getting there, which you keep them alive and

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Speaker 3: then can propagate them and it's amazing. A lot of

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Speaker 3: plants comeing.

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Speaker 2: Okay, so have we I don't think we've talked about

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Speaker 2: this on the show. My favorite plants that you've propagated

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Speaker 2: warm plants. There are the green onions from Aldi and

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Speaker 2: you chop the roots off because obviously you don't eat

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Speaker 2: the roots, but then you let them dry out, like

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Speaker 2: you save up a bunch of them, set them in

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Speaker 2: the garage, and then you throw them on the ground

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Speaker 2: and they sprout, and then we've got green onions everywhere.

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Speaker 2: And then they blossom too, which yeah.

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Speaker 4: Huge, like eight inch white flowers.

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Speaker 2: Yeah, it's like a Doctor Seuss like it doesn't look

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Speaker 2: in proportion with their roster of our garden.

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Speaker 4: But it's really fun.

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Speaker 3: And the neighbors always like, what.

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Speaker 2: Is it that's exacting? It must cost a lot of money.

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Speaker 3: It's my favorite too. They look amazing, they look super cool.

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Speaker 1: It's like the lorax of green onion. She speaks for

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Speaker 1: them like, isn't.

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Speaker 3: Like really truly half your garden from Aldie, Like just

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Speaker 3: wasn't a lot replanted?

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Speaker 4: Yeah, there's a lot that's been from Leedle or Aldi

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Speaker 4: where I've kept roots of things and put them on

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Speaker 4: the ground.

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Speaker 3: So it looks amazing. It's very cool.

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Speaker 4: Maybe it's my craft beer equivalent because it takes so

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Speaker 4: much of my time, not as much that it takes

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Speaker 4: up so much of our money.

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Speaker 2: That's another world. That's good. Okay, it's a time sink perhaps,

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Speaker 2: but it's like a good Yes, I'm sink. It's like,

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Speaker 2: you know, not, I'm not saying that in like a

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Speaker 2: bad way. It's just something that requires a whole lot

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Speaker 2: of times.

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Speaker 4: That's what I'm spending on it right now is my time.

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Speaker 2: Okay, So let's just say one thing.

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Speaker 1: Had a friend text me yesterday, so we're on vacation

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Speaker 1: at the beach, and he was like, oh, what restaurants

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Speaker 1: have you enjoyed while you're there? And zoom, not a man,

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Speaker 1: No restaurants because Kate's a great cook and she's she's

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Speaker 1: willing to cook for eleven people, which is amazing. Uh.

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Speaker 1: And it's just it is interesting how much money it

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Speaker 1: says you like, oh my gosh, you pay the grocery

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Speaker 1: bill and you're like, dang, that's a lot of money

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Speaker 1: on food for all these folks this many days. But

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Speaker 1: think about what it would cost to go out to

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Speaker 1: eat even if we went out three or four times, like.

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Speaker 2: Like time six days, Oh my gosh, times eleven people. Yes,

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Speaker 2: like there's so much more. Yeah, you do all the multiplications.

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Speaker 3: The work to get everyone out the door.

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Speaker 1: Yes, with young kids. As we get older, maybe we'll

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Speaker 1: be into that more. But it's it's actually really nice

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Speaker 1: just to kind of we're either at the beach or at.

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Speaker 2: The house, women in the pool, and we'll get ready.

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Speaker 3: Yeah, exactly, are equally excited to eat Kate's cooking as

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Speaker 3: they are to beat. They talk about both like up there.

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Speaker 2: Well, so you say that, and that being said, full

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Speaker 2: full transparency, we are gonna go get takeout tonight so

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Speaker 2: that we don't have to worry about doing meal prep

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Speaker 2: for dinner.

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Speaker 4: Right because I'm not cooking right now exactly.

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Speaker 2: Instead the kids are. It's great because we're all sunburned.

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Speaker 2: Skin's all dried and cracked from like the salt water kizzard.

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Speaker 3: Some people are burned more than others need to be.

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Speaker 2: In the shapes still haven't figured that out, have they.

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Speaker 2: But you gotta like test it out. You gotta figure

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Speaker 2: out which kid is responsible enough, and then slowly we

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Speaker 2: start figuring out you can.

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Speaker 3: We should have known that one already, right.

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Speaker 2: Yeah, So we are at the beach and by the way,

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Speaker 2: it's getting dark out there, a little storm. I'm gonna

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Speaker 2: start storming a little bit. Yeah, so we're gonna have

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Speaker 2: a conversation that this is a little more laid back

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Speaker 2: that I feel like we've done previous Wife episodes. So

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Speaker 2: we'll kind of see where this where this ends up going.

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Speaker 2: But I still want to introduce the beer because we're

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Speaker 2: still obviously doing that. This is a lemon rattler. Uh

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Speaker 2: the z trone. I think that's how you say lemon.

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Speaker 2: Oh yeah in German. I don't know. Not a classic

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Speaker 2: beach beer. Is this Austrian?

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Speaker 1: Is by Steegel? And is it? Is it an Austrian brewery?

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Speaker 2: I couldn't tell you.

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Speaker 1: Yeah, we should have done that, but we have not

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Speaker 1: paid close attention.

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Speaker 2: You in particular are a huge fan of rattlers at

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Speaker 2: the beach, and it's the perfect beach bear. That's the thing.

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Speaker 2: We've talked about this before, because you end up getting

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Speaker 2: something that you think is going to be tasty, but

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Speaker 2: then you take it outside and hundred degree heat with

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Speaker 2: humidity and the wind and the salt blowing, and all

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Speaker 2: of a sudden, you're kind of like it feels like

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Speaker 2: you're sitting down to eat like a Thanksgiving turkey, like

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Speaker 2: at lunch or I don't know, it's it's weird. It's

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Speaker 2: in IPA.

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Speaker 1: But every beer needs to have its context mismatch, and

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Speaker 1: this beer, the beach is the perfect context. With this beer,

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Speaker 1: I don't really drink this beer any other time of year,

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Speaker 1: but when it comes to the beach, I'm loading up

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Speaker 1: with like four or four packs and I'm slinging them

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Speaker 1: with me. They're also like two percent.

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Speaker 2: Which is nice. That's another great reason. Yeah, all right,

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Speaker 2: but we kick things off. Yeah, all right, let's just

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Speaker 2: dive into it because I'm like, I mean, I promise

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Speaker 2: this is not intended as a brag. But any how,

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Speaker 2: money listener out there knows if they track their net worth,

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Speaker 2: if they have even just a vague idea. So this

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Speaker 2: is what we're talking about money. Obviously, Ladies, like our

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Speaker 2: net worth it has gone up in recent years, and

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Speaker 2: whether that's because of just the different gains that we've

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Speaker 2: seen in the market, or from our assets rising and

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Speaker 2: value like your home, how do you think that has

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Speaker 2: influenced your perception of money? Emily, I'll pitch this one

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Speaker 2: to you. First. Bottom line, we are wealthier, you know,

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Speaker 2: and again not to at all to our horns, but

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Speaker 2: when you do something for years and even decades over time,

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Speaker 2: it's inevitable. Do you think that that has impacted how

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Speaker 2: it is that you you view money. We're starting with

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Speaker 2: the easy questions. First, you know, like, what is your

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Speaker 2: what's your overall philosophy on what money is?

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Speaker 3: So I'm warming up right here. Yeah, sorry, no, you know,

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Speaker 3: I think in so many ways, our day to day

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Speaker 3: lifestyle hasn't changed. So it takes me a minute to

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Speaker 3: think about how I would answer this, and I think

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Speaker 3: the answer that first comes to my mind is how

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Speaker 3: I answer it as a parent, which is I'm thankful

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Speaker 3: that I feel a little less angst over paying for

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Speaker 3: all the sports they do, or field trips or you know,

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Speaker 3: things that were difficult when they were younger and we

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Speaker 3: were on a much tighter budget.

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Speaker 1: Summer camps. They'll tell you how expensive those summer camps are.

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Speaker 3: Yeah, which is great. I mean, our kids love summer camp.

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Speaker 3: Our oldest girls went together for two weeks and it

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Speaker 3: was amazing. It was also really expensive, and next year

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Speaker 3: I think they're all going to go. And so you're like, whoa,

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Speaker 3: that's a lot of money.

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Speaker 1: Yeah.

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Speaker 2: A lot of folks are like, oh, us, you must

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Speaker 2: be so happy out of the diaper phase, because I

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Speaker 2: remember saying that. I remember thinking, oh, yeah, formula and

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Speaker 2: diapers once we are out of that in preschool, yeah,

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Speaker 2: and preschool and pre k like once we're able to

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Speaker 2: exit that phase, are going to save so much money.

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Speaker 2: That's not true.

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Speaker 1: No, it's like it's in fact the opposite perpetual way

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Speaker 1: humans think. It's like, oh man, once I tackled this

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Speaker 1: problem or I'm done with this assignment, then I can

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Speaker 1: really kick back and relax. But there's always something for

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Speaker 1: humans to worry about, and then there's always another it's

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Speaker 1: headed your way, and so you're right, Matt, like, there's

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Speaker 1: it's always oh man, I can't wait to be done

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Speaker 1: with this phase, but then the next phase kicks in,

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Speaker 1: and sometimes it costs more, and so planning ahead and

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Speaker 1: just and being flexible and having some wiggle room built

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Speaker 1: in it's so crucial so that you can continue to

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Speaker 1: navigate those waters as expenses typically creep up as your

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Speaker 1: kids get older.

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Speaker 3: Think if I had to then go back, I hope

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Speaker 3: I answered that sincly. I think maybe it's changed my

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Speaker 3: perspective as I've just been grateful for it. It is

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Speaker 3: nice to be able to have to be able to

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Speaker 3: pay for your children and afford what they need and

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Speaker 3: want and it not be stressful. I've been very grateful

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Speaker 3: for that.

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Speaker 2: Okay, has your attitude towards the money changed over the

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Speaker 2: past five ten years.

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Speaker 4: I think probably really similar to Emily. It's just it

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Speaker 4: took up more of my time that I was worried

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Speaker 4: about did I get the best deal or is this

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Speaker 4: the right choice if I'm going to spend money on this,

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Speaker 4: Like it just took up time and bandwidth and had

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Speaker 4: some anxiety with it before or we got to the

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Speaker 4: point where I could feel a little more comfortable and

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Speaker 4: I wouldn't have to spend as many conversations with you

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Speaker 4: or time on the internet trying to figure things out

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Speaker 4: like I used to trying to get the best deal

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Speaker 4: or trying to decide if we should spend this thirty

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Speaker 4: dollars or not.

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Speaker 1: So it's interesting, like just less stress over money as

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Speaker 1: you feel like you've got more surefooting underneath.

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Speaker 4: Yeah, I feel like I've reclaimed some time and yeah,

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Speaker 4: emotional bandwidth to to not think about those things quite

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Speaker 4: as deeply as I did for a long time.

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Speaker 1: I think it's one of the most powerful things that

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Speaker 1: money can do for it. We talk about so people

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Speaker 1: associate more money with oh, buying the beach ouse, not

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Speaker 1: just going to it or whatever, or upgrading the car,

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Speaker 1: but so much of the time. It is like, it's

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Speaker 1: what you don't spend that gives you the freedom and

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Speaker 1: that gives you the breathing room. And I see that

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Speaker 1: as like one of the biggest benefits of the stock

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Speaker 1: market being up forty percent, you're like over the past

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Speaker 1: two years or whatever, or and just I think the

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Speaker 1: power is in allowing yourself and having just more freedom

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Speaker 1: to to not worry and instead of like increased spending power,

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Speaker 1: it's it's it's and I don't know, maybe that's just

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Speaker 1: like a weird frugal person's way of thinking about things.

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Speaker 3: But that's freedom and choice. Those are really important.

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Speaker 2: Yeah, I mean for y'all, paying for y'all school has

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Speaker 2: been a massive cost sync over the.

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Speaker 3: Most expensive hobby.

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Speaker 2: Yeah, but like I guess, how do you how do

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Speaker 2: y'all think about that, whether it's just the right now

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Speaker 2: the added expense, but also knowing though that in the

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Speaker 2: future there's going to be additional income. I mean, right,

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Speaker 2: you get paid now, you get a stipend, right.

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Speaker 3: Yeah, just because I got to just I got a grant,

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Speaker 3: but most interns are not paid, so this is very fortunate.

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Speaker 3: I did get a grant.

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Speaker 2: So how are y'all, Yeah, how do you think about that?

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Speaker 2: Do you see that as as a financial investment, because

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Speaker 2: now you're able to not only pursue the things obviously

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Speaker 2: that you're interested and excited about, but do you how much?

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Speaker 2: I guess I'm curious how much are you counting on

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Speaker 2: the financial aspect of it once you are practicing full time?

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Speaker 1: It's a better question for me, Matt. I'm really.

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Speaker 3: Kick up his feet and be done. I you know, so,

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Speaker 3: to be quite honest, I mean, I love this question.

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Speaker 3: We have not talked through it a ton. I'm not

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Speaker 3: sure we're really banking on it that much financially. I

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Speaker 3: think I went back to school. It almost felt just

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Speaker 3: more of like a calling, like this is what I'd

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Speaker 3: wanted to do for a long time. You want to

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Speaker 3: spend your time, Yeah, it's how I want to spend

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Speaker 3: my time. Just back to the whole time freedom and

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Speaker 3: time was my kids are getting older, This is actually

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Speaker 3: how I want to spend my.

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Speaker 1: Time, and how you want to use your gifts how

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Speaker 1: I want to use.

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Speaker 3: My gifts, which has been really really fulfilling. So the

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Speaker 3: financial piece has like felt second place. I will say

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Speaker 3: it is expensive to be a working mom. We're paying

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Speaker 3: for a lot more childcare. I feel like we eat

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Speaker 3: out more, we're buying a breadmaker. There is some expense

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Speaker 3: to being gone more. So I think sometimes it's kind

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Speaker 3: of going to go back into that, especially initially.

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Speaker 1: Yeah, yeah, it's it is interesting, like talking about the

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Speaker 1: freedom and the options and stuff like that is something

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Speaker 1: we have talked about openly. Is just that our frugal habits,

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Speaker 1: savings rate net worth improvement means more flexible options for

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Speaker 1: the specific career path Emily wants to pursue upon graduation,

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Speaker 1: and so there's a lot of people would understandably. So

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Speaker 1: they graduate and it's like I got to get that

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Speaker 1: suite offer and start getting a legit paycheck. And yes,

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Speaker 1: it's going to be really nice to stop paying for

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Speaker 1: school and for you to be bringing home income. But

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Speaker 1: you're going to be able to decide in what capacity

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Speaker 1: you want to work, where you want to work. You're

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Speaker 1: currently interning at a nonprofit, you might work at a nonprofit.

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Speaker 1: And guess what, people in nonprofits don't They typically don't

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Speaker 1: get paid paid as much as private practitioners. And so

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Speaker 1: I think that's one of the coolest things is that

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Speaker 1: we've been able to save up and pay for this

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Speaker 1: education in cash, and then even after graduation, it's not like,

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Speaker 1: all right, you got to bring home six figures or

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Speaker 1: or else, like you got to make this thing pay off.

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Speaker 1: There's still a lot of flexibility there as to what

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Speaker 1: working looks like and income looks like.

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Speaker 3: Yeah, totally. So I think flexibility will still be the

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Speaker 3: number one important, but it will be nice to have

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Speaker 3: some extra income. Probably it's going to go back into

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Speaker 3: sports in summer camps.

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Speaker 2: Do you think you can see what our priorities are

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Speaker 2: right now? Do you think there are ways where we

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Speaker 2: are spending money more in both for our lives, like

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Speaker 2: in y'all in your family's life and our family finances

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Speaker 2: as well, Kate, Because it's easy to put our finger

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Speaker 2: on some things like oh the breadmaker. Oh, I'm buying

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Speaker 2: artisanal grains and milling them at home, and Kate's like

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Speaker 2: I'm chopping up onions from ald and planning of those.

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Speaker 2: I mean, all I know is that our monthly expenses

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Speaker 2: have certainly gone up, and so I guess what I'm

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Speaker 2: pointing to is the fact that there are certain ways

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Speaker 2: that I know we are intentionally spending more because we

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Speaker 2: have identified, oh, we want to be able to provide

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Speaker 2: our kids with these kind of experiences. Yeah, that's gonna

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Speaker 2: be awesome, But I also know that that's not the

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Speaker 2: only reason our expenses have gone up. I guess, yeah,

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Speaker 2: how do you think about that? How do y'all think

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Speaker 2: about keeping lifestyle creep at bay basically without leaning hard

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Speaker 2: into the deprivation sort of mindset lifestyle where like early on, right,

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Speaker 2: like we were bro we didn't have any money, like

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Speaker 2: we had to do these things out of necessity. We

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Speaker 2: don't have to do those things out of necessity anymore.

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Speaker 2: And I think there are different ways where we have

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Speaker 2: seen our expenses increase, almost subconsciously, because in my mind,

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Speaker 2: that's lifestyle creep. Right, you can spend more on something

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Speaker 2: and because you enjoy it, that's the craft beer equivalent,

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Speaker 2: that's the thing that you are intentionally spending on. But

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Speaker 2: when it comes to lifestyle creep, what's like, it's nefarious, right,

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Speaker 2: It's like this sneaky thing and it's got its technicles

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Speaker 2: in you and you don't even realize it. And everything's

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Speaker 2: infected by the dinnero effect where you're spending more money

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Speaker 2: because then thing next to it now looks shabby, right,

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Speaker 2: it's got that whole thing, which is hard because how

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Speaker 2: are we supposed to know what it is that were

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Speaker 2: actually spending money on. Is I almost feel putting on

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Speaker 2: the spot right now and saying, hey, where are you

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Speaker 2: spending more money that you don't even realize it? But

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Speaker 2: I guess that's what I'm what I'm getting at convenience.

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Speaker 1: Yeah, I think that's true. I think that's true.

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Speaker 3: I mean it makes our life easier, do not care?

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Speaker 1: Case in point, for groceries here in years past, we

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Speaker 1: used to run out to the grocery store and stock

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Speaker 1: up for food for eleven people, and we placed an

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Speaker 1: Insta card order and guess what, there is a fee

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Speaker 1: and a tip not to mention inflated prices in general.

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Speaker 3: Service fee on top of delivery fee.

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Speaker 1: So it's expensive to be expensive. But we were like, uh,

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Speaker 1: it's not worth three hours of our vacation to go

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Speaker 1: to the grocery store.

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Speaker 2: Even last year I made a run out to the

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Speaker 2: grocery store, and I think that's what that's when we

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Speaker 2: bought like the steaks for like our last couple of

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Speaker 2: meals or whatever. But I don't think we entertained that

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Speaker 2: idea at all, like you said, because it's such a

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Speaker 2: time suck.

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Speaker 4: We did stop and get steaks on the way here,

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Speaker 4: Well we stopped it a cost going away.

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Speaker 3: Got that was about getting the best, that was about quality.

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Speaker 3: It's like, okay, yeah, we don't trust someone else.

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Speaker 2: If you're going to get stakes, it's like, all right,

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Speaker 2: we're going to get it from the local grocery store

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Speaker 2: that's on the island, where not only are the prices inflated,

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Speaker 2: but it's also such a sub such an inferior cud

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Speaker 2: of meat versus getting prime rabbi at costco.

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Speaker 1: It's hard to be that what are used to the

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Speaker 1: finer cuts.

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Speaker 2: The finer things in life. Yeah, what do you think? Kay? Like?

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Speaker 2: I mean again, it's hard to have a pulse as

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Speaker 2: to where it is that we are spending more money

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Speaker 2: without actually I guess looking at a monthly expense report

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Speaker 2: or something like that.

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Speaker 4: But I think we spend a little more on the

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Speaker 4: kids than is absolutely necessary. I think we love spending

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Speaker 4: on them when it comes to them and learning about

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Speaker 4: something that they want to learn more about. Like you

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Speaker 4: want to learn about gymnastics, We're going to do that.

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Speaker 4: You want to learn more about piano, Let's take piano

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Speaker 4: lessons these are not necessary things, but these are expenses

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Speaker 4: that are significant, that are monthly that we've just taken.

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Speaker 3: On just because we want that for our kids.

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Speaker 4: So I think probably a lot of the monthly, ongoing

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Speaker 4: expenses that we've taken on have been related to things

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Speaker 4: that kids are doing.

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Speaker 1: The other yeah, the other tough thing is and I

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Speaker 1: know our listeners have felt this keenly, just like we

438
00:19:16,800 --> 00:19:19,280
Speaker 1: have the reality of inflation. All right, So it's like,

439
00:19:19,320 --> 00:19:21,600
Speaker 1: what are you spending more money on than you weren't

440
00:19:21,600 --> 00:19:25,639
Speaker 1: spending everything? Literally everything, you know, like literally everything, because

441
00:19:26,000 --> 00:19:30,280
Speaker 1: over historically, at least in our young adult lives, most

442
00:19:30,280 --> 00:19:33,880
Speaker 1: of our adult lives, prices have gone up slowly under

443
00:19:33,920 --> 00:19:36,760
Speaker 1: two to three percent, slowly but surely, so like we're

444
00:19:36,840 --> 00:19:39,440
Speaker 1: truly writing that two percent range. There was no really,

445
00:19:39,480 --> 00:19:43,960
Speaker 1: no outliers, like that's just how things worked, and COVID

446
00:19:44,000 --> 00:19:46,600
Speaker 1: obviously threw that off in a major way. And so

447
00:19:47,200 --> 00:19:49,679
Speaker 1: we're literally spending more on everything. Everything costs more, and

448
00:19:49,720 --> 00:19:53,639
Speaker 1: so it's hard to know, Wait, is this me being

449
00:19:54,240 --> 00:19:57,520
Speaker 1: fancy or is this just the reality that everything costs

450
00:19:57,600 --> 00:20:02,720
Speaker 1: more now? And it's probably mostly the latter, But yeah,

451
00:20:02,720 --> 00:20:06,240
Speaker 1: there's obviously some places in which were we've upgraded here

452
00:20:06,280 --> 00:20:06,760
Speaker 1: and there too.

453
00:20:07,040 --> 00:20:08,840
Speaker 2: Nice. All right, let's just take a quick break and

454
00:20:09,000 --> 00:20:09,639
Speaker 2: we'll get back.

455
00:20:09,480 --> 00:20:10,520
Speaker 1: To chatting with our wives.

456
00:20:18,320 --> 00:20:19,760
Speaker 2: Or we're back from the breaks and we were just

457
00:20:19,760 --> 00:20:24,000
Speaker 2: talking about kind of unintentionally spending money. I'm curious. So

458
00:20:24,080 --> 00:20:26,480
Speaker 2: we as we've gotten older, we've picked up like different hobbies,

459
00:20:26,840 --> 00:20:29,000
Speaker 2: different things that we like to spend our money on.

460
00:20:29,440 --> 00:20:31,760
Speaker 2: Do you think, Kate, I'll pitch this to you, do

461
00:20:31,800 --> 00:20:35,160
Speaker 2: you think that there are things that if we were wealthier,

462
00:20:35,240 --> 00:20:38,919
Speaker 2: or if we had more income, that you would like

463
00:20:38,960 --> 00:20:41,000
Speaker 2: to spend more money on? Like basically, do you feel

464
00:20:41,040 --> 00:20:43,960
Speaker 2: like that there are some areas where like, basically you're

465
00:20:43,960 --> 00:20:44,520
Speaker 2: missing out on.

466
00:20:44,760 --> 00:20:48,120
Speaker 4: I don't feel like there are areas where we're missing out,

467
00:20:48,160 --> 00:20:50,760
Speaker 4: But I do feel like if there was just an

468
00:20:50,920 --> 00:20:53,600
Speaker 4: endless amount of money, I would make different choices.

469
00:20:53,680 --> 00:20:54,600
Speaker 3: I think we would.

470
00:20:54,720 --> 00:20:56,479
Speaker 4: I would want to travel more. I think a lot

471
00:20:56,520 --> 00:21:00,520
Speaker 4: of our conversations around travel with our kids have been

472
00:21:01,640 --> 00:21:04,120
Speaker 4: are they old enough to remember? It is everybody tall

473
00:21:04,240 --> 00:21:04,719
Speaker 4: enough to do?

474
00:21:04,800 --> 00:21:06,359
Speaker 3: It is everybody?

475
00:21:06,760 --> 00:21:11,120
Speaker 4: And you know whereas like, if if money were no object,

476
00:21:11,240 --> 00:21:14,240
Speaker 4: I think I would want us to travel more. When

477
00:21:14,280 --> 00:21:18,400
Speaker 4: our kids learn about the Boston tea party. I would

478
00:21:18,400 --> 00:21:19,960
Speaker 4: take them to Boston and when they learn about the

479
00:21:20,000 --> 00:21:22,440
Speaker 4: French Revolutionary go to Paris. You know, like, I would

480
00:21:22,480 --> 00:21:26,280
Speaker 4: love to do stuff like that without if money were

481
00:21:26,280 --> 00:21:28,520
Speaker 4: no object. But we do talk about travel with kids.

482
00:21:28,680 --> 00:21:32,359
Speaker 4: We continue to talk about putting that off, especially international travel,

483
00:21:32,680 --> 00:21:33,720
Speaker 4: because of the cost of it.

484
00:21:34,680 --> 00:21:36,960
Speaker 2: Yeah, that makes sense, Like in a similar way, I

485
00:21:36,960 --> 00:21:39,280
Speaker 2: guess sort of you're talking about earlier when it comes

486
00:21:39,280 --> 00:21:42,560
Speaker 2: to maybe groceries or something, it's like, oh, well, is

487
00:21:42,600 --> 00:21:44,879
Speaker 2: it the absolute best deal? Oh is there going to

488
00:21:44,920 --> 00:21:47,199
Speaker 2: be any waste? Right? Like every dollar spent on that

489
00:21:47,240 --> 00:21:48,960
Speaker 2: thing is off the mines. And that's what we're doing.

490
00:21:49,240 --> 00:21:50,760
Speaker 2: We're doing the travel when it comes to something like

491
00:21:50,760 --> 00:21:53,439
Speaker 2: travel because it's just a higher ticket item and so

492
00:21:53,560 --> 00:21:55,800
Speaker 2: it makes sense because there's more zeros behind it. But

493
00:21:56,240 --> 00:21:57,920
Speaker 2: I agree, Yeah, I think I think I would feel

494
00:21:57,920 --> 00:22:00,760
Speaker 2: similarly if we had more. But yeah, what I are

495
00:22:00,760 --> 00:22:02,440
Speaker 2: the things that Joel doesn't let you do because it

496
00:22:02,480 --> 00:22:02,960
Speaker 2: cost too much.

497
00:22:03,000 --> 00:22:06,840
Speaker 3: Worthy, Well, it's funny listening to you guys talk. I

498
00:22:06,840 --> 00:22:09,320
Speaker 3: think one of the things that would change is I

499
00:22:09,359 --> 00:22:11,840
Speaker 3: do feel the pressure too sometimes, like make the perfect

500
00:22:11,880 --> 00:22:14,680
Speaker 3: money decision or I'll make a decision and then Joel

501
00:22:14,720 --> 00:22:17,000
Speaker 3: asked me about the three things that I didn't think about,

502
00:22:17,240 --> 00:22:19,000
Speaker 3: and I'm like, I don't know. I thought about the

503
00:22:19,000 --> 00:22:21,240
Speaker 3: first two, and probably it was is this the most

504
00:22:21,240 --> 00:22:24,719
Speaker 3: convenient because that tends to be my default. So maybe

505
00:22:24,760 --> 00:22:26,920
Speaker 3: just in general, there could be a little less pressure.

506
00:22:27,840 --> 00:22:31,040
Speaker 3: But also I think that's it's not bad. That's personality

507
00:22:31,040 --> 00:22:33,800
Speaker 3: and disposition and how we've gotten where we are. Something

508
00:22:33,840 --> 00:22:36,119
Speaker 3: tangible would probably be travel too. I think I'm in

509
00:22:36,160 --> 00:22:40,560
Speaker 3: that same boat. I love traveling with her family. It's

510
00:22:40,640 --> 00:22:44,320
Speaker 3: so fun, and I would love to do that more

511
00:22:44,359 --> 00:22:46,479
Speaker 3: and more. And that's what I mean. Selma, our oldest

512
00:22:46,600 --> 00:22:48,439
Speaker 3: just had a birthday and that's what she's asked for

513
00:22:48,440 --> 00:22:50,080
Speaker 3: for the past year, as a trip to New York.

514
00:22:50,200 --> 00:22:52,639
Speaker 3: So you know, that's what we're going to do for her,

515
00:22:52,680 --> 00:22:55,040
Speaker 3: and that is the best. Like that has just felt

516
00:22:55,040 --> 00:22:56,600
Speaker 3: like so fun to give that to her, and I

517
00:22:56,640 --> 00:23:00,639
Speaker 3: would look forward to doing that more and more and

518
00:23:00,680 --> 00:23:02,080
Speaker 3: fill in the freedom to do that more and more.

519
00:23:02,320 --> 00:23:05,520
Speaker 1: Southwest points for the win on that one, Yeah points

520
00:23:05,840 --> 00:23:08,760
Speaker 1: or did y'all work up to the Companion pass? No, No,

521
00:23:08,840 --> 00:23:11,720
Speaker 1: we didn't quite hit that, but we I mean so

522
00:23:11,760 --> 00:23:13,880
Speaker 1: many Southwest points now, Yeah, thinks.

523
00:23:13,840 --> 00:23:16,160
Speaker 2: Even without getting the Companion Pass, yeah, which I will

524
00:23:16,200 --> 00:23:17,720
Speaker 2: say for that to make a lot of sense, you

525
00:23:17,720 --> 00:23:19,920
Speaker 2: need to be traveling a good bit. Yeah, Like we've

526
00:23:19,920 --> 00:23:24,000
Speaker 2: definitely taken advantage of it multiple times, but mostly because

527
00:23:24,000 --> 00:23:25,639
Speaker 2: I just wanted to do it, because we'd never done

528
00:23:25,680 --> 00:23:27,639
Speaker 2: it before. It's just like, oh, what does it like

529
00:23:27,680 --> 00:23:30,800
Speaker 2: to experience the companion Pass? But yeah, I'm not sure

530
00:23:30,880 --> 00:23:33,159
Speaker 2: for well, obviously we will continue to hang on to

531
00:23:33,200 --> 00:23:35,639
Speaker 2: the Southwest points since they don't expire, and since we

532
00:23:35,720 --> 00:23:36,920
Speaker 2: still like to fly Southwest.

533
00:23:36,960 --> 00:23:39,399
Speaker 1: But you wait for the Southwest sales man sometimes at

534
00:23:39,440 --> 00:23:41,560
Speaker 1: thirty or forty percent off, and it's when you pay

535
00:23:41,600 --> 00:23:43,520
Speaker 1: with points, and so yeah, the round trip to New

536
00:23:43,600 --> 00:23:46,399
Speaker 1: York was pretty cheap, so yeah, it makes it. I

537
00:23:46,400 --> 00:23:50,720
Speaker 1: will say, like, you look at the flabbergasting price of travel,

538
00:23:50,800 --> 00:23:52,800
Speaker 1: and there are ways to at least mitigate it so

539
00:23:52,880 --> 00:23:55,280
Speaker 1: you can't experience some of that, And we probably haven't

540
00:23:55,280 --> 00:23:56,960
Speaker 1: done it as much as we'd like, and it's something

541
00:23:57,000 --> 00:24:00,520
Speaker 1: we can make a higher priority. But I think the

542
00:24:00,920 --> 00:24:04,399
Speaker 1: more we can use like the credit card rewards points

543
00:24:04,400 --> 00:24:07,359
Speaker 1: to our to our benefit, the more like we are

544
00:24:07,440 --> 00:24:08,320
Speaker 1: be able to travel more.

545
00:24:08,440 --> 00:24:11,200
Speaker 3: So also I'm gonna like take her to a cart

546
00:24:11,200 --> 00:24:12,520
Speaker 3: to eat a hot dog or a piece of pizza,

547
00:24:12,520 --> 00:24:14,600
Speaker 3: and she's gonna think it's awesome. We're gonna spend two

548
00:24:14,680 --> 00:24:16,720
Speaker 3: dollars on our meal and it's gonna be sit on

549
00:24:16,720 --> 00:24:18,520
Speaker 3: the curb and eat it, and it's gonna be super fun.

550
00:24:18,840 --> 00:24:21,120
Speaker 2: You gotta do that in New York City, right, Yeah, Yeah,

551
00:24:21,200 --> 00:24:23,239
Speaker 2: don't necessarily need to do five start, Donnie. Last time

552
00:24:23,240 --> 00:24:24,919
Speaker 2: I was in New York Actually, right when I landed,

553
00:24:24,920 --> 00:24:28,040
Speaker 2: you were somewhere else, Joel, and uh with somebody else,

554
00:24:28,080 --> 00:24:30,080
Speaker 2: and you're at a brewery. Actually that's where we met up.

555
00:24:30,080 --> 00:24:33,000
Speaker 2: That sounds like, uh, But so I flew in later,

556
00:24:33,400 --> 00:24:34,919
Speaker 2: and the first thing I did, I was just like,

557
00:24:34,920 --> 00:24:35,920
Speaker 2: I gotta get a bite to eat.

558
00:24:36,080 --> 00:24:36,240
Speaker 1: Man.

559
00:24:36,359 --> 00:24:37,879
Speaker 2: Just being able to grab a slice of pizza and

560
00:24:37,880 --> 00:24:40,280
Speaker 2: just keep walking like yeah, walking to a subway stop.

561
00:24:40,320 --> 00:24:43,480
Speaker 2: That was I mean, I'm forty one years old and

562
00:24:43,960 --> 00:24:47,000
Speaker 2: that's still is awesome to me. But okay, So we

563
00:24:47,080 --> 00:24:50,480
Speaker 2: talked about investing all the time, Joel. I'm curious if

564
00:24:50,640 --> 00:24:53,360
Speaker 2: you and Emily as a couple, if y'all ever worry

565
00:24:53,400 --> 00:24:56,959
Speaker 2: about not having enough, because we're always talking about investing

566
00:24:56,960 --> 00:25:00,680
Speaker 2: for the future, and you know, we've done a pretty

567
00:25:00,760 --> 00:25:03,240
Speaker 2: dang good job. I mean your family has. Our family

568
00:25:03,280 --> 00:25:06,480
Speaker 2: has as well over the past decade, over the past

569
00:25:06,560 --> 00:25:09,000
Speaker 2: multiple decades, right, it's been like, yeah, you know, twenty

570
00:25:09,080 --> 00:25:13,000
Speaker 2: years of investing dollar cost averaging no matter what, day

571
00:25:13,040 --> 00:25:15,000
Speaker 2: in and day out. Do y'all think about that as

572
00:25:15,040 --> 00:25:17,280
Speaker 2: a couple. Yeah, I'm curious.

573
00:25:17,800 --> 00:25:20,040
Speaker 3: It's funny. I feel like our fears in this realm

574
00:25:20,080 --> 00:25:24,520
Speaker 3: are really different. Mine are all more about catastrophe. What

575
00:25:24,560 --> 00:25:28,919
Speaker 3: if something happens and it's terrible, and you know I

576
00:25:28,920 --> 00:25:29,840
Speaker 3: don't it's.

577
00:25:29,720 --> 00:25:31,159
Speaker 1: Where of the will and the life insurance come in?

578
00:25:31,240 --> 00:25:34,159
Speaker 3: Right, Yeah, like I can. I feel like my fears

579
00:25:34,200 --> 00:25:36,880
Speaker 3: aren't based in reality but just rather like blown out

580
00:25:37,320 --> 00:25:40,159
Speaker 3: anxiety and fear of worst case scenario, and yours are

581
00:25:40,200 --> 00:25:42,400
Speaker 3: probably more surrounding the details.

582
00:25:42,440 --> 00:25:44,439
Speaker 1: And I think mine aren't based in reality either, but

583
00:25:44,520 --> 00:25:47,639
Speaker 1: I have them, like and they stem from from childhood,

584
00:25:47,720 --> 00:25:50,399
Speaker 1: you know they and I've it's something I've worked through

585
00:25:50,840 --> 00:25:53,240
Speaker 1: in a lot of ways over a long period of time,

586
00:25:53,640 --> 00:25:56,399
Speaker 1: but they're still there. And it's it's my parents not

587
00:25:56,440 --> 00:26:00,840
Speaker 1: having literally well not not had enough, but made poor

588
00:26:00,880 --> 00:26:04,920
Speaker 1: decisions and we saw like hard things happen because of

589
00:26:04,960 --> 00:26:08,720
Speaker 1: its Like Carget repossessed, right and after my dad lost

590
00:26:08,760 --> 00:26:12,479
Speaker 1: his job, and so I look back to those things

591
00:26:12,520 --> 00:26:16,440
Speaker 1: and it's like it makes me want to That's where

592
00:26:16,440 --> 00:26:18,679
Speaker 1: the security comes from when it comes to money, and

593
00:26:18,720 --> 00:26:23,040
Speaker 1: that's why I like money in my investment account and

594
00:26:23,080 --> 00:26:26,199
Speaker 1: in my savings account and not to spend it on

595
00:26:26,359 --> 00:26:29,840
Speaker 1: stuff because I don't want to experience that. But yeah,

596
00:26:30,119 --> 00:26:32,119
Speaker 1: it's one of those things that I think takes a

597
00:26:32,160 --> 00:26:34,800
Speaker 1: long time to work through. And those things from those

598
00:26:35,119 --> 00:26:38,119
Speaker 1: money scripts that you inherit from childhood, yep, can have

599
00:26:38,560 --> 00:26:42,040
Speaker 1: a lingering impact. They have had that on me. But

600
00:26:42,480 --> 00:26:44,399
Speaker 1: I'm also learning to work through them and try to

601
00:26:44,400 --> 00:26:49,280
Speaker 1: be more understanding of well, you really do only live once,

602
00:26:49,320 --> 00:26:50,679
Speaker 1: and so it's not like throw caution to the wain

603
00:26:50,760 --> 00:26:53,520
Speaker 1: and get crazy. But there are things worth spending money on,

604
00:26:53,880 --> 00:26:58,040
Speaker 1: especially in this era of our lives, and so what

605
00:26:58,080 --> 00:27:00,399
Speaker 1: are those things that are a priority. How do we

606
00:27:00,480 --> 00:27:03,760
Speaker 1: find the comfort level spending even if it means may

607
00:27:04,160 --> 00:27:06,200
Speaker 1: guess what I mean. You've talked recently on an episode

608
00:27:06,240 --> 00:27:08,399
Speaker 1: Matt the year you're not investing nearly as much or

609
00:27:08,400 --> 00:27:11,640
Speaker 1: maybe anything this year because you have other priorities. Yeah,

610
00:27:12,040 --> 00:27:15,840
Speaker 1: so I think when you have done smart things with

611
00:27:15,880 --> 00:27:17,879
Speaker 1: money over a long period of time, you have the

612
00:27:17,920 --> 00:27:21,520
Speaker 1: ability to make what seems to be how too many

613
00:27:21,520 --> 00:27:23,400
Speaker 1: listeners maybe to be like a crazy decision.

614
00:27:24,240 --> 00:27:26,560
Speaker 2: Sure. I so we've frontloaded the sacrifice. That's a term

615
00:27:26,600 --> 00:27:30,240
Speaker 2: that that we've used often on the show, to where

616
00:27:30,320 --> 00:27:31,600
Speaker 2: we're at the point where we can kind of coast

617
00:27:31,640 --> 00:27:33,199
Speaker 2: a little bit and we can start thinking through what

618
00:27:33,240 --> 00:27:35,119
Speaker 2: we want our lives to look like now. And I

619
00:27:35,160 --> 00:27:38,080
Speaker 2: know those are certainly conversations that Kate and I have had,

620
00:27:38,080 --> 00:27:40,600
Speaker 2: but Emily, So, I mean, I'm curious though, you said that,

621
00:27:40,680 --> 00:27:43,480
Speaker 2: like the catastrophes, like the worst case scenarios, you're not

622
00:27:43,520 --> 00:27:46,440
Speaker 2: worried about actually running out of money in retirement because

623
00:27:46,440 --> 00:27:49,520
Speaker 2: even the way you were talking about going into counseling

624
00:27:49,560 --> 00:27:51,800
Speaker 2: and practice, you're not really talking about the money like

625
00:27:51,880 --> 00:27:54,560
Speaker 2: you're thinking about it more from a fulfillment standpoint, from

626
00:27:54,600 --> 00:27:57,560
Speaker 2: a lifestyle, from a gifting Joel is is maybe one

627
00:27:57,560 --> 00:27:59,920
Speaker 2: of the things you said, So that's not on your

628
00:28:00,119 --> 00:28:01,840
Speaker 2: radar at all. It is just sort of like the

629
00:28:01,840 --> 00:28:04,960
Speaker 2: worst case scenarios of somebody dying, like if Joel were

630
00:28:04,960 --> 00:28:06,160
Speaker 2: to kick the bucket or something.

631
00:28:06,560 --> 00:28:09,400
Speaker 3: Yes, okay, I guess she said that.

632
00:28:09,359 --> 00:28:10,960
Speaker 1: Actually might be best case scenarios what she.

633
00:28:10,960 --> 00:28:15,440
Speaker 2: Said, lattering and layering on those life starence policies.

634
00:28:15,760 --> 00:28:18,240
Speaker 3: Yeah, no, and I think that's the benefit. I think.

635
00:28:18,280 --> 00:28:21,240
Speaker 3: I'm hesitant to answer because I think that's the benefit

636
00:28:21,440 --> 00:28:25,439
Speaker 3: of being having financial security. And I don't want to

637
00:28:25,640 --> 00:28:27,640
Speaker 3: come across like I take that for granted or I'm

638
00:28:27,680 --> 00:28:30,720
Speaker 3: nonchalant about that, because that is not true for a

639
00:28:30,760 --> 00:28:32,840
Speaker 3: lot of people. So I'm really grateful that I feel

640
00:28:32,880 --> 00:28:35,600
Speaker 3: like we make plenty to cover our basis and day

641
00:28:35,600 --> 00:28:39,080
Speaker 3: to day living is not stressful, and I just want

642
00:28:39,120 --> 00:28:41,719
Speaker 3: to acknowledge it, and that's not true for everyone. So

643
00:28:41,840 --> 00:28:44,840
Speaker 3: I don't think my fears surround that. And I also

644
00:28:45,040 --> 00:28:48,280
Speaker 3: don't think I really think big picture about money that often.

645
00:28:48,360 --> 00:28:50,400
Speaker 3: So thank god I'm married to Joel, because I would

646
00:28:50,440 --> 00:28:53,240
Speaker 3: just more. I don't know what we would do. I

647
00:28:53,280 --> 00:28:56,800
Speaker 3: just wouldn't necessarily think put that much mental energy into it.

648
00:28:56,840 --> 00:28:59,360
Speaker 3: So part of my fears lack of fear is just

649
00:28:59,720 --> 00:29:00,640
Speaker 3: not me time.

650
00:29:01,080 --> 00:29:03,080
Speaker 2: I just don't think about it that you haven't thought about.

651
00:29:02,880 --> 00:29:07,080
Speaker 4: It's definitely giving it time, right, And he comes in

652
00:29:07,160 --> 00:29:09,280
Speaker 4: and has the investment ideas and long term plans, and

653
00:29:09,320 --> 00:29:10,920
Speaker 4: I'm like, great, you know.

654
00:29:11,000 --> 00:29:13,720
Speaker 1: You can always ask good questions. You always push back

655
00:29:13,800 --> 00:29:15,960
Speaker 1: in good ways when I have like an idea or

656
00:29:16,000 --> 00:29:18,480
Speaker 1: something I want to do or want to invest more

657
00:29:18,480 --> 00:29:21,600
Speaker 1: in one direction or something like that, like what about

658
00:29:21,680 --> 00:29:24,480
Speaker 1: buying another property or something like that, a rental property,

659
00:29:24,920 --> 00:29:28,320
Speaker 1: And you always ask really good questions, and sometimes you're like,

660
00:29:28,840 --> 00:29:31,680
Speaker 1: does that align with our goals right now in this season?

661
00:29:31,920 --> 00:29:36,600
Speaker 1: Or And I feel like those conversations help me because

662
00:29:36,600 --> 00:29:39,000
Speaker 1: I mean, I'm like full steam ahead, had an idea,

663
00:29:39,120 --> 00:29:41,520
Speaker 1: let's go, and you ask the right questions to kind

664
00:29:41,560 --> 00:29:43,520
Speaker 1: of slow me down properly. I feel like, so I

665
00:29:43,520 --> 00:29:45,880
Speaker 1: don't get in over my head too quickly.

666
00:29:46,240 --> 00:29:51,080
Speaker 2: Kate, what are your thoughts regarding scarcity, maybe the potential

667
00:29:51,280 --> 00:29:54,440
Speaker 2: for not quite having enough? It seems like something that

668
00:29:54,480 --> 00:29:57,479
Speaker 2: we've we've never had to think through and ask ourselves

669
00:29:57,520 --> 00:30:00,000
Speaker 2: some of these questions. But as we get older, we're

670
00:30:00,000 --> 00:30:02,480
Speaker 2: we were not young kids anymore, you know, we've like

671
00:30:02,880 --> 00:30:05,640
Speaker 2: I'm in my forties now, and you start thinking about

672
00:30:05,720 --> 00:30:08,320
Speaker 2: what work looks like, what life looks like, what slowly

673
00:30:08,360 --> 00:30:10,600
Speaker 2: transitioning to retirement and working less looks like. Do you

674
00:30:10,640 --> 00:30:13,080
Speaker 2: ever think about, oh, are we going to actually have

675
00:30:13,200 --> 00:30:16,760
Speaker 2: enough in our retirement accounts, will we be able to

676
00:30:16,800 --> 00:30:19,920
Speaker 2: have enough cash flow to be able to maintain our lifestyle.

677
00:30:20,280 --> 00:30:23,280
Speaker 4: This is not something that I think about very often,

678
00:30:23,320 --> 00:30:26,840
Speaker 4: and when I do, I think my perspective on it

679
00:30:26,880 --> 00:30:29,600
Speaker 4: is more, I'm really grateful to be where we are

680
00:30:29,680 --> 00:30:31,960
Speaker 4: right now, But we've also been in a place where

681
00:30:31,960 --> 00:30:34,480
Speaker 4: we've been with so much less, We've had so much less,

682
00:30:35,240 --> 00:30:38,040
Speaker 4: and those times were difficult, and I think we learned

683
00:30:38,080 --> 00:30:40,040
Speaker 4: a lot during those times. And I know that if

684
00:30:40,040 --> 00:30:42,200
Speaker 4: we needed to get back to that point where we

685
00:30:42,200 --> 00:30:45,040
Speaker 4: were living on a lot less than we are currently

686
00:30:45,080 --> 00:30:48,000
Speaker 4: living on, that we could do that. I know if

687
00:30:48,000 --> 00:30:50,720
Speaker 4: I needed to go back to work, that I would

688
00:30:51,240 --> 00:30:54,040
Speaker 4: gladly and quickly do that if that's what our family needed.

689
00:30:54,080 --> 00:30:58,160
Speaker 4: And so I see it less as like a pool

690
00:30:58,240 --> 00:31:00,800
Speaker 4: that's going to run out, and more or as like

691
00:31:01,560 --> 00:31:04,040
Speaker 4: something we're keeping tabs on and if it gets low,

692
00:31:04,080 --> 00:31:05,200
Speaker 4: we need to make some changes.

693
00:31:05,600 --> 00:31:06,800
Speaker 3: Yeah, and we just will.

694
00:31:07,120 --> 00:31:10,560
Speaker 2: Yeah. There's no ego, it's great tied up with the

695
00:31:10,640 --> 00:31:13,440
Speaker 2: idea in my mind, at least. I'm like I think

696
00:31:13,440 --> 00:31:15,160
Speaker 2: for a lot of folks, like the worst, like their

697
00:31:15,240 --> 00:31:18,040
Speaker 2: worst nightmare is like quitting work or stepping away or

698
00:31:18,080 --> 00:31:19,600
Speaker 2: taking a pay cut, because they want to spend more

699
00:31:19,640 --> 00:31:22,240
Speaker 2: time with their family or some aging parents whatever, and

700
00:31:22,280 --> 00:31:24,600
Speaker 2: then having to like step back into it because you're

701
00:31:24,640 --> 00:31:26,640
Speaker 2: almost like admitting a loss. It's like, oh, I thought

702
00:31:26,640 --> 00:31:29,040
Speaker 2: this was going to work out, but in fact I

703
00:31:29,120 --> 00:31:31,560
Speaker 2: was wrong. We were wrong. We have to kind of

704
00:31:31,640 --> 00:31:34,240
Speaker 2: quietly we're gonna come, Oh, I haven't seen it in

705
00:31:34,240 --> 00:31:36,120
Speaker 2: a while. Oh yeah, you know, went back to work.

706
00:31:36,480 --> 00:31:38,640
Speaker 2: For me, there's like I got zero ego when it

707
00:31:38,680 --> 00:31:41,320
Speaker 2: comes to what it takes in order to make things work.

708
00:31:41,400 --> 00:31:43,040
Speaker 2: Like well, I think that comes.

709
00:31:42,840 --> 00:31:45,240
Speaker 4: From not finding I don't know. I've just never had

710
00:31:45,320 --> 00:31:49,240
Speaker 4: a career where I was finding an inordinate amount of

711
00:31:49,680 --> 00:31:54,320
Speaker 4: self worth in my job. So it just has never

712
00:31:54,400 --> 00:31:56,480
Speaker 4: held that weight over me. Then I think it holds

713
00:31:56,480 --> 00:32:00,000
Speaker 4: for people who are more invested in their career.

714
00:32:01,040 --> 00:32:03,600
Speaker 3: The artist is just going to create no matter whether

715
00:32:03,720 --> 00:32:06,600
Speaker 3: or not there is financial but if it's tied, yeah,

716
00:32:06,640 --> 00:32:08,360
Speaker 3: it's going to come out in all these ways. And

717
00:32:08,440 --> 00:32:12,320
Speaker 3: so I love that a different piece of yourself is Yeah.

718
00:32:12,400 --> 00:32:14,640
Speaker 4: Absolutely, I would love to if I need to go

719
00:32:14,760 --> 00:32:16,880
Speaker 4: back and work at like the library, I would love

720
00:32:16,960 --> 00:32:19,240
Speaker 4: to work at the library or my kids.

721
00:32:18,960 --> 00:32:24,720
Speaker 3: School like that would be say nursery absolutely, or she

722
00:32:24,760 --> 00:32:26,560
Speaker 3: will tell you whatever you need to know, and your

723
00:32:26,600 --> 00:32:27,400
Speaker 3: plans will be well.

724
00:32:27,440 --> 00:32:29,959
Speaker 4: Meet my favorite people all day every day. I mean,

725
00:32:30,000 --> 00:32:32,200
Speaker 4: I just don't feel stressed about if I have to

726
00:32:32,240 --> 00:32:34,040
Speaker 4: start working again, what would it be. It would just

727
00:32:34,680 --> 00:32:36,880
Speaker 4: it would just be what I needed to do until

728
00:32:36,880 --> 00:32:37,560
Speaker 4: we would just do it.

729
00:32:38,360 --> 00:32:41,120
Speaker 1: The other reality is for people with a high savings

730
00:32:41,200 --> 00:32:44,200
Speaker 1: rate for an extended period of time, that fear link

731
00:32:44,280 --> 00:32:46,320
Speaker 1: may linger, and that might be part of the reason

732
00:32:46,560 --> 00:32:49,600
Speaker 1: you are funneling so much of your money towards investments.

733
00:32:49,680 --> 00:32:52,320
Speaker 1: But the truth is a lot of those folks are

734
00:32:52,320 --> 00:32:53,800
Speaker 1: going to have much more money than they need. Right

735
00:32:53,840 --> 00:32:55,800
Speaker 1: the millionaire next door, like, they have a hard time

736
00:32:55,840 --> 00:32:59,560
Speaker 1: spending the money that they've accrued, and so they find

737
00:32:59,600 --> 00:33:01,920
Speaker 1: that they have this like massive nest egg. They have

738
00:33:01,920 --> 00:33:03,680
Speaker 1: a paid off mortgage, and they're like, what do I

739
00:33:03,800 --> 00:33:06,120
Speaker 1: do with the six million dollars eight million dollars in

740
00:33:06,160 --> 00:33:09,120
Speaker 1: my four oh one k that that I was told

741
00:33:09,160 --> 00:33:12,440
Speaker 1: to do so to so diligently feed money into Do

742
00:33:12,440 --> 00:33:14,200
Speaker 1: you guys think about that, Like, what does it look

743
00:33:14,280 --> 00:33:18,480
Speaker 1: like twenty five years down the road and we have

744
00:33:19,360 --> 00:33:22,600
Speaker 1: far more more money than we needed? Because that that

745
00:33:22,840 --> 00:33:26,160
Speaker 1: is potentially a risk too it's a different kind of risk,

746
00:33:26,240 --> 00:33:27,480
Speaker 1: but it is one.

747
00:33:27,760 --> 00:33:29,640
Speaker 4: I think we think about that some. I think that's

748
00:33:29,680 --> 00:33:34,160
Speaker 4: why we were willing to step into a renovation and

749
00:33:34,240 --> 00:33:38,320
Speaker 4: not invest for a couple of years, because like it's.

750
00:33:38,280 --> 00:33:40,960
Speaker 2: The money, right, not just this year's We're probably not going.

751
00:33:40,920 --> 00:33:41,960
Speaker 3: To be maybe not next year.

752
00:33:42,680 --> 00:33:45,800
Speaker 4: It's crazy, but no, I mean, I just I'm not worried.

753
00:33:45,920 --> 00:33:47,880
Speaker 4: I don't at the end want there to be this

754
00:33:48,000 --> 00:33:52,440
Speaker 4: like huge pool, and if there is, I I would

755
00:33:52,480 --> 00:33:55,400
Speaker 4: love to start spending it now on like causes that

756
00:33:55,440 --> 00:33:58,920
Speaker 4: matter to me, giving generously. Like if we start to

757
00:33:58,960 --> 00:34:01,840
Speaker 4: see that getting too high, I would love to be

758
00:34:01,920 --> 00:34:04,120
Speaker 4: able to turn around and give that away.

759
00:34:04,440 --> 00:34:07,640
Speaker 2: Yeah, one of like big time philanthropists. But I think

760
00:34:07,640 --> 00:34:08,759
Speaker 2: we could easily make that.

761
00:34:08,840 --> 00:34:10,799
Speaker 4: I would love to be And it sounds wonderful.

762
00:34:11,120 --> 00:34:13,080
Speaker 2: I mean, like we talk about the benefits of giving

763
00:34:13,080 --> 00:34:15,279
Speaker 2: your money away, like y'all's family, our family. We give

764
00:34:15,320 --> 00:34:17,840
Speaker 2: away significant I mean compared to the rest of the

765
00:34:17,920 --> 00:34:20,520
Speaker 2: United States. I'll say, right, we give away significant portions

766
00:34:20,520 --> 00:34:26,160
Speaker 2: of our income, but nothing like having multiple millions of

767
00:34:26,160 --> 00:34:28,400
Speaker 2: dollars in the bag that you've got your mark for

768
00:34:29,080 --> 00:34:29,840
Speaker 2: charitable causes.

769
00:34:30,640 --> 00:34:32,120
Speaker 1: Six figure gifts sound kind of fun.

770
00:34:32,680 --> 00:34:35,880
Speaker 4: I have so many things I would love to fund

771
00:34:36,200 --> 00:34:39,160
Speaker 4: for so many different causes. It would be so wonderful

772
00:34:39,200 --> 00:34:40,839
Speaker 4: to spend my time on that. So I hope that's

773
00:34:40,880 --> 00:34:43,200
Speaker 4: the problem. If I run into a problem like that,

774
00:34:43,200 --> 00:34:43,600
Speaker 4: that's when.

775
00:34:43,560 --> 00:34:45,400
Speaker 2: It's a great, Yeah, great problem to have. I assume

776
00:34:45,520 --> 00:34:48,239
Speaker 2: you know feel similarly, Yeah in your head, nodding.

777
00:34:48,120 --> 00:34:51,319
Speaker 3: When you're asking yes, when you're asking the question. I mean,

778
00:34:51,360 --> 00:34:53,160
Speaker 3: what's going through my mind is oh, well, then if

779
00:34:53,160 --> 00:34:55,279
Speaker 3: that was the case, we just didn't get creative enough

780
00:34:55,320 --> 00:34:58,799
Speaker 3: and how we gave away because that, there's so much

781
00:34:58,800 --> 00:35:00,960
Speaker 3: satisfaction in that. And then and I also think even

782
00:35:02,560 --> 00:35:05,279
Speaker 3: some of that is what I want to do with

783
00:35:05,320 --> 00:35:09,280
Speaker 3: my own career. I mean, I think quality, affordable mental

784
00:35:09,320 --> 00:35:14,239
Speaker 3: health care is rare. It can be very expensive, and

785
00:35:14,280 --> 00:35:17,000
Speaker 3: I love It's partly why I'm at the place i'm

786
00:35:17,040 --> 00:35:20,320
Speaker 3: at is because that's part of the mission, is really

787
00:35:20,440 --> 00:35:24,839
Speaker 3: quality therapy at a very affordable rate. I love that.

788
00:35:24,960 --> 00:35:27,400
Speaker 3: And if you know, you making more money means that

789
00:35:27,520 --> 00:35:30,239
Speaker 3: I can charge less. I want that to be the case.

790
00:35:30,360 --> 00:35:32,719
Speaker 3: Or what can I do in my career that can

791
00:35:32,719 --> 00:35:34,600
Speaker 3: be funded by some of what we have?

792
00:35:34,800 --> 00:35:35,080
Speaker 2: Yeah?

793
00:35:35,600 --> 00:35:38,200
Speaker 1: Yeah, and we could if it was all about fattening

794
00:35:38,200 --> 00:35:40,480
Speaker 1: the nest egg. It'd be like, now I'll go get

795
00:35:40,520 --> 00:35:42,920
Speaker 1: you that job where you know you get in two

796
00:35:43,000 --> 00:35:44,960
Speaker 1: hundred bucks an hour as a marriage of family therapist

797
00:35:45,040 --> 00:35:47,840
Speaker 1: or something like that. But if if, the if you

798
00:35:47,840 --> 00:35:49,960
Speaker 1: can be more have more of a missional mindset with

799
00:35:50,040 --> 00:35:52,960
Speaker 1: your day to day job, and that means a reduced income,

800
00:35:53,239 --> 00:35:54,960
Speaker 1: that's okay, and that's actually awesome.

801
00:35:55,680 --> 00:35:58,080
Speaker 2: Sounds like you want to practice at the ALDI or

802
00:35:58,120 --> 00:36:03,520
Speaker 2: Costco equivalent, not like the Whole Foods version of mental health.

803
00:36:03,680 --> 00:36:04,440
Speaker 2: Is that accurate?

804
00:36:04,480 --> 00:36:09,000
Speaker 3: Hilarious? I want Whole Foods quality exactly, but I want

805
00:36:09,000 --> 00:36:10,520
Speaker 3: it accessible to But.

806
00:36:10,440 --> 00:36:14,799
Speaker 2: There's incredible value there. Yeah, and you need to put

807
00:36:14,800 --> 00:36:18,839
Speaker 2: your own card away, you bring your own water. Sorry,

808
00:36:18,880 --> 00:36:21,600
Speaker 2: I'm not going to have for you.

809
00:36:22,440 --> 00:36:25,319
Speaker 1: Well, we were just talking to emlu. I mean like that.

810
00:36:25,320 --> 00:36:28,840
Speaker 1: That is a big problem because a lot of mental

811
00:36:28,840 --> 00:36:33,720
Speaker 1: health practitioners don't take insurance, and the people who need

812
00:36:33,960 --> 00:36:37,279
Speaker 1: help the most oftentimes don't have the money to be

813
00:36:37,360 --> 00:36:38,400
Speaker 1: able to afford the services.

814
00:36:38,400 --> 00:36:38,759
Speaker 2: And so.

815
00:36:40,239 --> 00:36:43,400
Speaker 1: We need dozens, if not hundreds, of more clinics like

816
00:36:43,400 --> 00:36:45,840
Speaker 1: where you're working, so that people have that sort of access.

817
00:36:46,239 --> 00:36:48,279
Speaker 3: And it's a tricky for both parties, right, both the

818
00:36:48,320 --> 00:36:51,360
Speaker 3: clinician and the client, because they also have to be

819
00:36:51,800 --> 00:36:53,879
Speaker 3: I mean, they're paying a lot of expenses you don't see,

820
00:36:53,920 --> 00:36:56,839
Speaker 3: so therapy feels really expensive. But also there's a big

821
00:36:56,920 --> 00:36:59,560
Speaker 3: chunk of that that's going to you know, insurance, all

822
00:36:59,640 --> 00:37:02,040
Speaker 3: kinds of things you're not aware of. So I think

823
00:37:02,080 --> 00:37:04,320
Speaker 3: a lot of clinicians would want to be more generous.

824
00:37:04,360 --> 00:37:07,160
Speaker 3: It's just sometimes a tough system. So I would love

825
00:37:07,200 --> 00:37:08,400
Speaker 3: to be able to be in that space.

826
00:37:08,960 --> 00:37:10,520
Speaker 1: We got a few more questions. We want to get

827
00:37:10,520 --> 00:37:13,000
Speaker 1: to with our wives before we shut this thing down.

828
00:37:13,160 --> 00:37:14,880
Speaker 1: We'll get their beer reviews too, and that's gonna be

829
00:37:14,880 --> 00:37:15,160
Speaker 1: really fun.

830
00:37:15,280 --> 00:37:16,080
Speaker 3: I already finished mine.

831
00:37:17,400 --> 00:37:18,680
Speaker 2: I'll be ready.

832
00:37:18,000 --> 00:37:28,880
Speaker 1: Yeah, we'll get to that in just a second. All right,

833
00:37:28,920 --> 00:37:31,200
Speaker 1: we're back. I'm still talking with our wives for a

834
00:37:31,200 --> 00:37:33,759
Speaker 1: few more minutes here at the beach. Our kids are

835
00:37:33,760 --> 00:37:35,960
Speaker 1: downstairs watching a movie thathing's gonna end pretty soon.

836
00:37:35,960 --> 00:37:36,600
Speaker 2: What are they watching them?

837
00:37:36,600 --> 00:37:39,400
Speaker 1: By the way, No, there were arguments taking place about

838
00:37:39,440 --> 00:37:41,880
Speaker 1: what they were gonna watch. Sadly, Sing two was not

839
00:37:41,920 --> 00:37:44,640
Speaker 1: available for free. They knew we were going to pony up,

840
00:37:44,680 --> 00:37:48,840
Speaker 1: so they were trying trying to find something that was streaming.

841
00:37:49,200 --> 00:37:53,839
Speaker 2: Watch it done ex for us to because we cut

842
00:37:53,880 --> 00:37:57,120
Speaker 2: Disney Plus forever. I mean we slashed all of our streaming,

843
00:37:57,320 --> 00:38:00,919
Speaker 2: like literally everything. And they're so they've been so upset

844
00:38:00,920 --> 00:38:04,560
Speaker 2: about not having Disney because they have they about it.

845
00:38:04,640 --> 00:38:07,000
Speaker 4: Yeah, oh yeah, they'll like asked to go to someone

846
00:38:07,000 --> 00:38:09,319
Speaker 4: else's house to watch there, especially because they haven't been.

847
00:38:09,600 --> 00:38:12,600
Speaker 1: You gave them the choice between having Disney Plus back

848
00:38:13,120 --> 00:38:15,120
Speaker 1: or shaving your mustache. Which one will they pick?

849
00:38:15,239 --> 00:38:19,759
Speaker 2: They have been petitioning for both. Our second daughter has

850
00:38:19,800 --> 00:38:24,040
Speaker 2: been the most vocal on both fronts. Actually, she really

851
00:38:24,080 --> 00:38:25,160
Speaker 2: likes saying things her way.

852
00:38:25,280 --> 00:38:29,720
Speaker 1: Yeah apparently. Okay, So question here. We've been talking about

853
00:38:29,760 --> 00:38:32,040
Speaker 1: lots of things. Money's at the core of a lot

854
00:38:32,040 --> 00:38:35,200
Speaker 1: of those things. But money influences our lives, how we live,

855
00:38:35,320 --> 00:38:38,239
Speaker 1: and how he interacts with the world around us, the

856
00:38:38,280 --> 00:38:40,879
Speaker 1: things we get to partake in. But do you guys

857
00:38:40,880 --> 00:38:43,280
Speaker 1: ever get tired of talking about money? This is episode

858
00:38:43,680 --> 00:38:46,200
Speaker 1: what eight fifty seven. I think. So, I don't know

859
00:38:46,239 --> 00:38:47,600
Speaker 1: if Matt and I get tired of talking about money,

860
00:38:47,600 --> 00:38:48,200
Speaker 1: But what about you, lady?

861
00:38:48,280 --> 00:38:50,279
Speaker 2: Are you talking about you and me talking about money?

862
00:38:50,280 --> 00:38:53,480
Speaker 2: You're talking about ours? Are they like the daily conversations

863
00:38:53,600 --> 00:38:55,440
Speaker 2: enough already. We get it to your job, but leave it,

864
00:38:55,520 --> 00:38:56,440
Speaker 2: leave it at the office.

865
00:38:56,680 --> 00:38:58,239
Speaker 4: I think probably both of us would have said, we

866
00:38:58,280 --> 00:39:00,479
Speaker 4: get tired of it. But then when you guys started

867
00:39:00,480 --> 00:39:03,360
Speaker 4: the podcast, you just talk to each other, so honestly,

868
00:39:03,400 --> 00:39:05,560
Speaker 4: we talk about money so much less now that you

869
00:39:05,640 --> 00:39:07,280
Speaker 4: talk to each other about money so much.

870
00:39:07,120 --> 00:39:07,759
Speaker 2: That's actually true.

871
00:39:07,800 --> 00:39:08,600
Speaker 1: I hadn't thought about that.

872
00:39:08,680 --> 00:39:13,440
Speaker 3: Yeah, totally agree. I feel like we're gonna energy with

873
00:39:13,520 --> 00:39:13,919
Speaker 3: each other.

874
00:39:14,719 --> 00:39:16,520
Speaker 2: I'm glad you'll found each other. Yeah.

875
00:39:16,600 --> 00:39:19,400
Speaker 3: Yeah, but I do like talking about money. I like

876
00:39:19,440 --> 00:39:23,360
Speaker 3: talking about money sometimes differently because I think money reveals

877
00:39:23,360 --> 00:39:26,160
Speaker 3: so much about what someone's thinking and feeling and what

878
00:39:26,200 --> 00:39:27,040
Speaker 3: their values are.

879
00:39:27,320 --> 00:39:30,040
Speaker 2: So you care about what's underneath the way, not the

880
00:39:30,080 --> 00:39:31,120
Speaker 2: actual money conversation.

881
00:39:31,239 --> 00:39:34,600
Speaker 3: Yes, yes, and I think those are endlessly fascinating. But

882
00:39:34,640 --> 00:39:36,640
Speaker 3: the details I don't care about as much. And that's

883
00:39:36,680 --> 00:39:38,279
Speaker 3: why I'm thankful you guys have each other.

884
00:39:38,440 --> 00:39:40,360
Speaker 2: So I'm with you, Like, there's a certain part of

885
00:39:40,400 --> 00:39:43,960
Speaker 2: me that doesn't like I'm into the details, but I

886
00:39:43,960 --> 00:39:46,279
Speaker 2: also don't want that to be the focal point of

887
00:39:46,520 --> 00:39:49,279
Speaker 2: Kate and I's relationship, like our monthly check ins or

888
00:39:49,360 --> 00:39:51,840
Speaker 2: our every couple weeks kind of check ins when it

889
00:39:51,840 --> 00:39:54,040
Speaker 2: comes to the budget and where we are when it

890
00:39:54,080 --> 00:39:56,880
Speaker 2: comes to different categories. Those aren't conversations. I literally just

891
00:39:56,920 --> 00:39:59,120
Speaker 2: send her a screenshot of our budget so she can

892
00:39:59,200 --> 00:40:01,200
Speaker 2: see how much money we have left in different categories.

893
00:40:01,200 --> 00:40:03,520
Speaker 2: It's not it's literally something we don't talk about because

894
00:40:03,560 --> 00:40:07,080
Speaker 2: we don't necessarily enjoy having those conversations as opposed to

895
00:40:07,680 --> 00:40:09,719
Speaker 2: talking about the things that matter more that are sort

896
00:40:09,719 --> 00:40:11,200
Speaker 2: of blow the service, like.

897
00:40:11,200 --> 00:40:15,080
Speaker 4: What you yeah, yeah, you goals and oh yeah, yeah

898
00:40:15,160 --> 00:40:17,400
Speaker 4: yeah right right. You know.

899
00:40:17,480 --> 00:40:19,960
Speaker 3: I think sometimes it's really funny. There will be some

900
00:40:20,040 --> 00:40:22,520
Speaker 3: kind of big money decision that I know is a

901
00:40:22,560 --> 00:40:24,560
Speaker 3: little bit stressful. It's hard to say yes too, and

902
00:40:24,600 --> 00:40:26,480
Speaker 3: some of that money had to float away, and then

903
00:40:26,600 --> 00:40:29,359
Speaker 3: like the next conversation you and I have, it will

904
00:40:29,360 --> 00:40:32,040
Speaker 3: come out like I'll hear you know, You'll you'll be

905
00:40:32,080 --> 00:40:33,879
Speaker 3: like we don't need to use that, put that back

906
00:40:33,960 --> 00:40:35,600
Speaker 3: or you know, or whatnot, and I'll have to double

907
00:40:35,640 --> 00:40:37,960
Speaker 3: back and be like, are you still feeling this the

908
00:40:37,960 --> 00:40:41,279
Speaker 3: weight of that money conversation that we just had, And oftentimes.

909
00:40:40,800 --> 00:40:43,080
Speaker 1: It is, yeah, it's this emotional thing that happens to me.

910
00:40:43,120 --> 00:40:46,840
Speaker 1: Sometimes it's like subconscious, it's it's like below and Emily

911
00:40:46,960 --> 00:40:49,160
Speaker 1: has is great at asking the question, so just have

912
00:40:49,200 --> 00:40:51,560
Speaker 1: to do with that thing actually, and I'm like, oh, yeah,

913
00:40:51,560 --> 00:40:53,919
Speaker 1: they are kind of connected. I didn't realize, yeah, that.

914
00:40:54,320 --> 00:40:57,440
Speaker 3: Your control is going to come out on something else, right,

915
00:40:57,440 --> 00:40:59,280
Speaker 3: because you had a similar to that control to the money,

916
00:40:59,280 --> 00:41:00,920
Speaker 3: and so then you're going to squeeze something else. And

917
00:41:00,960 --> 00:41:03,080
Speaker 3: it's always so interesting to me when I see that

918
00:41:03,120 --> 00:41:05,879
Speaker 3: pop up and they're always side by side, And.

919
00:41:05,840 --> 00:41:08,960
Speaker 1: That's what's fascinating about money, because yeah, it reveals something

920
00:41:09,000 --> 00:41:10,520
Speaker 1: that's going on in your heart and in your brain,

921
00:41:11,320 --> 00:41:14,560
Speaker 1: and so it's it is less about the pactor roth

922
00:41:14,600 --> 00:41:15,839
Speaker 1: maneuver or you.

923
00:41:15,800 --> 00:41:16,560
Speaker 2: Know those things.

924
00:41:16,560 --> 00:41:18,839
Speaker 1: Those are things we talk about on the show, and

925
00:41:19,000 --> 00:41:21,680
Speaker 1: they are questions that people have, and people want to

926
00:41:21,719 --> 00:41:24,719
Speaker 1: minimize the tax that they pay right and they want

927
00:41:24,760 --> 00:41:29,840
Speaker 1: to be diversified with low costs at a low cost.

928
00:41:30,600 --> 00:41:33,800
Speaker 1: But those are things worth talking about. They're really important

929
00:41:33,800 --> 00:41:36,160
Speaker 1: to know. But then there are the other parts. I

930
00:41:36,239 --> 00:41:38,319
Speaker 1: agree that the further we get along into this, Matt,

931
00:41:38,360 --> 00:41:41,520
Speaker 1: it's that's the most Those are the most fascinating conversations

932
00:41:41,520 --> 00:41:43,640
Speaker 1: we get to have with other people, or the most

933
00:41:43,640 --> 00:41:47,960
Speaker 1: fascinating listener questions are the emotional psychological ones that have

934
00:41:48,040 --> 00:41:48,960
Speaker 1: to deal with money.

935
00:41:48,880 --> 00:41:51,640
Speaker 2: They're less mechanical, and I mean some of it makes

936
00:41:51,640 --> 00:41:56,279
Speaker 2: me think about my history previous career job as a photographer,

937
00:41:56,320 --> 00:41:59,720
Speaker 2: and I never cared about the gear, like so literally

938
00:41:59,760 --> 00:42:02,399
Speaker 2: like the like actual equipment, And it makes me think

939
00:42:02,400 --> 00:42:04,200
Speaker 2: about that, right, Like, You've got some folks and they

940
00:42:04,239 --> 00:42:07,320
Speaker 2: love talking about the gear. They're so they're so into

941
00:42:07,600 --> 00:42:11,160
Speaker 2: megapixels and you know, like all this dumb stuff and

942
00:42:11,200 --> 00:42:13,000
Speaker 2: I'm like, okay, well does it allow you to take

943
00:42:13,000 --> 00:42:15,680
Speaker 2: a beautiful image? And it's important to know how to

944
00:42:15,840 --> 00:42:17,440
Speaker 2: handle your gear and how to work it and how

945
00:42:17,440 --> 00:42:19,880
Speaker 2: to maintain it. You need to know all of those things.

946
00:42:19,880 --> 00:42:23,160
Speaker 2: But when that becomes like the obsession, that's it's such

947
00:42:23,200 --> 00:42:24,759
Speaker 2: a turn off because it's just like do you care

948
00:42:24,800 --> 00:42:27,080
Speaker 2: about the images that you're creating or do you just

949
00:42:27,239 --> 00:42:29,960
Speaker 2: care more about having all the toys and the gadgets.

950
00:42:30,440 --> 00:42:32,799
Speaker 2: It's easy to lose sight, which is why, Yeah, we

951
00:42:32,840 --> 00:42:35,839
Speaker 2: talk about it when we talk with couples or are

952
00:42:35,960 --> 00:42:38,640
Speaker 2: answering listener questions. It's just like, hey, what are your

953
00:42:38,680 --> 00:42:41,319
Speaker 2: shared goals like? Because that is what's going to get

954
00:42:41,400 --> 00:42:43,279
Speaker 2: you to the point where y'all are going to be

955
00:42:43,320 --> 00:42:45,040
Speaker 2: able to get on the same page where you're going

956
00:42:45,080 --> 00:42:47,120
Speaker 2: to be able to work as a team together moving forward,

957
00:42:47,160 --> 00:42:48,440
Speaker 2: not pulling in opposite directions.

958
00:42:48,440 --> 00:42:50,440
Speaker 1: All right, we've got a question for you ladies. So

959
00:42:50,640 --> 00:42:55,320
Speaker 1: we've talked about increasing spending on our kids these days, camps,

960
00:42:55,400 --> 00:42:59,880
Speaker 1: stuff like that. What are your thoughts about investing for

961
00:43:00,160 --> 00:43:03,200
Speaker 1: our kids' future? Has that grown in importance? Is that

962
00:43:03,600 --> 00:43:06,040
Speaker 1: still something that we don't care much about? Like, how

963
00:43:06,040 --> 00:43:08,640
Speaker 1: do how do you think about setting them up for

964
00:43:08,640 --> 00:43:10,760
Speaker 1: future financial success?

965
00:43:10,880 --> 00:43:11,000
Speaker 2: So?

966
00:43:11,280 --> 00:43:15,719
Speaker 3: Yes, I think I have probably thought somewhat differently. My

967
00:43:15,800 --> 00:43:22,359
Speaker 3: mind has shifted as we have made more money and

968
00:43:22,680 --> 00:43:25,920
Speaker 3: providing for their college education has seemed like more feasible

969
00:43:26,360 --> 00:43:28,680
Speaker 3: versus you know, I've mentioned this before on the show

970
00:43:28,719 --> 00:43:31,520
Speaker 3: Growing Up with a single Parent. I paid for college

971
00:43:31,560 --> 00:43:34,879
Speaker 3: myself for the most part. I had a little help,

972
00:43:34,880 --> 00:43:37,640
Speaker 3: but for the most part. And I was like, Okay,

973
00:43:37,680 --> 00:43:40,799
Speaker 3: that's I feel comfortable having our kids do that as well.

974
00:43:40,840 --> 00:43:42,759
Speaker 3: I think that's actually great. They'll learn a lot of

975
00:43:42,800 --> 00:43:46,359
Speaker 3: life's blessings. But I don't know, now, when you're talking

976
00:43:46,360 --> 00:43:49,760
Speaker 3: about having more money and giving it away and investing,

977
00:43:49,800 --> 00:43:52,000
Speaker 3: you think, well, surely our children should benefit from that

978
00:43:52,080 --> 00:43:55,840
Speaker 3: generosity too, And we should save for their college funds

979
00:43:56,960 --> 00:44:00,239
Speaker 3: or I think of their weddings again. When our wedding, like,

980
00:44:00,320 --> 00:44:04,000
Speaker 3: we try to make it as frugal as possible, And

981
00:44:04,040 --> 00:44:05,480
Speaker 3: I would still want to do that with them too,

982
00:44:05,520 --> 00:44:07,320
Speaker 3: in a sense I don't want like a huge wedding,

983
00:44:07,360 --> 00:44:09,960
Speaker 3: but also, well, should I provide more cushion for them

984
00:44:10,000 --> 00:44:13,640
Speaker 3: because I can. I probably lean more in that direction

985
00:44:13,680 --> 00:44:16,080
Speaker 3: than I did even like a few years ago, because

986
00:44:16,080 --> 00:44:18,239
Speaker 3: it feels more like a possibility. But I don't know.

987
00:44:18,320 --> 00:44:19,960
Speaker 3: I have some qualms about it. Even as I say it,

988
00:44:19,960 --> 00:44:22,120
Speaker 3: I all loud right now, and of some missed emotions.

989
00:44:22,160 --> 00:44:25,920
Speaker 1: It's a fine line, right because the more money that

990
00:44:26,000 --> 00:44:28,719
Speaker 1: they have access to that at a younger age, you're

991
00:44:28,760 --> 00:44:31,040
Speaker 1: also you want them to have a sense of a

992
00:44:31,080 --> 00:44:34,879
Speaker 1: work ethic and you want to kind of push off

993
00:44:35,000 --> 00:44:38,960
Speaker 1: any sort of sense of entitlement. And you couldn't have

994
00:44:39,000 --> 00:44:42,239
Speaker 1: had a sense of entitlement right essentially because you had

995
00:44:42,360 --> 00:44:45,040
Speaker 1: to go out and do it for yourself. And how

996
00:44:45,080 --> 00:44:47,680
Speaker 1: do you allow your kids? I feel like this is

997
00:44:47,719 --> 00:44:50,000
Speaker 1: the biggest conundrum right now. How do you allow your

998
00:44:50,080 --> 00:44:53,040
Speaker 1: kids access to some things that are going to beneficial

999
00:44:53,080 --> 00:44:57,560
Speaker 1: for them without allowing them to adopt some sort of

1000
00:44:58,120 --> 00:45:02,000
Speaker 1: entitled belief about their lives.

1001
00:45:02,400 --> 00:45:04,680
Speaker 3: Yeah, it's a great question. I feel that because truly,

1002
00:45:04,760 --> 00:45:07,000
Speaker 3: hardship and strife and having to work for it are

1003
00:45:07,000 --> 00:45:08,520
Speaker 3: so good for kids. I mean, that's what's going to

1004
00:45:08,560 --> 00:45:12,680
Speaker 3: build confidence and character and ability, and you can provide

1005
00:45:12,680 --> 00:45:14,960
Speaker 3: a different path for them. But how much should you.

1006
00:45:15,719 --> 00:45:16,840
Speaker 1: Hm, you guys wrestling with that?

1007
00:45:17,760 --> 00:45:20,959
Speaker 4: We haven't, like, we haven't directly talked about it that much.

1008
00:45:21,040 --> 00:45:21,279
Speaker 3: I think.

1009
00:45:21,320 --> 00:45:23,560
Speaker 4: I mean, we are saving for college.

1010
00:45:24,719 --> 00:45:26,160
Speaker 3: I think being part of.

1011
00:45:26,080 --> 00:45:30,799
Speaker 4: Our money conversations now is just helping them see and

1012
00:45:30,920 --> 00:45:33,520
Speaker 4: understand what it looks like to work hard and to

1013
00:45:33,560 --> 00:45:36,240
Speaker 4: make money and then to make decisions with that money.

1014
00:45:36,680 --> 00:45:39,440
Speaker 3: So, just as is age appropriate.

1015
00:45:39,000 --> 00:45:43,480
Speaker 4: We will include them in understanding kind of what we do.

1016
00:45:43,719 --> 00:45:47,160
Speaker 4: And so hopefully no matter where they end up with

1017
00:45:47,280 --> 00:45:50,760
Speaker 4: whatever amount of money, they have principles that they've learned

1018
00:45:51,440 --> 00:45:54,680
Speaker 4: watching us and working with us as they grew up,

1019
00:45:54,800 --> 00:45:57,840
Speaker 4: that they can that they can take forward with whatever

1020
00:45:57,880 --> 00:45:58,160
Speaker 4: they have.

1021
00:45:59,320 --> 00:46:02,440
Speaker 2: Yeah, I think there's a difference between investing money for

1022
00:46:02,600 --> 00:46:05,480
Speaker 2: them for their future, like the whole generational wealthing, which

1023
00:46:05,760 --> 00:46:07,600
Speaker 2: the older I get, the more I push back on

1024
00:46:08,120 --> 00:46:09,520
Speaker 2: and it makes me think about the first time I

1025
00:46:09,719 --> 00:46:12,640
Speaker 2: think the shack Shaquille O'Neil talking about.

1026
00:46:12,440 --> 00:46:13,919
Speaker 1: He's been a mentor of yours for a long time.

1027
00:46:13,960 --> 00:46:16,720
Speaker 2: He has we go way back there in Atlanta.

1028
00:46:16,800 --> 00:46:18,160
Speaker 1: He even gives you his hand me down shoes.

1029
00:46:19,040 --> 00:46:22,080
Speaker 2: But he has said publicly that, oh, my kids are

1030
00:46:22,120 --> 00:46:23,839
Speaker 2: they're not going to get any of my money. They're

1031
00:46:23,840 --> 00:46:25,560
Speaker 2: gonna have to go and figure it out for themselves.

1032
00:46:25,920 --> 00:46:27,239
Speaker 2: And I think the first time I heard that, I'm

1033
00:46:27,280 --> 00:46:31,400
Speaker 2: ever thinking, dang, dude, like that's that's really harsh. But

1034
00:46:31,880 --> 00:46:34,680
Speaker 2: if your kids know that they're going to inherit millions

1035
00:46:34,680 --> 00:46:36,279
Speaker 2: of dollars, they're not going to be able to reach

1036
00:46:36,320 --> 00:46:38,320
Speaker 2: their full potential. They're not going to have that healthy

1037
00:46:38,320 --> 00:46:41,359
Speaker 2: stress of getting out there learning how to live on less.

1038
00:46:41,520 --> 00:46:43,000
Speaker 2: So like sort of like what you're saying, kay, Like

1039
00:46:43,719 --> 00:46:46,879
Speaker 2: we're not worried about running out or having less later

1040
00:46:46,880 --> 00:46:49,000
Speaker 2: in life because we know what it's like to cut

1041
00:46:49,080 --> 00:46:52,279
Speaker 2: back and to live more frugally. And yeah, we're not

1042
00:46:52,280 --> 00:46:54,560
Speaker 2: hoping that that happens, but it's a skill that we

1043
00:46:54,600 --> 00:46:57,239
Speaker 2: have in our tool belt, and those are skills and

1044
00:46:57,280 --> 00:47:00,600
Speaker 2: tools that I think our kids may not have. When

1045
00:47:00,680 --> 00:47:04,840
Speaker 2: you are setting aside large sums of money. I think college.

1046
00:47:04,920 --> 00:47:07,960
Speaker 2: I think even Emily, you talking about weddings, that's different

1047
00:47:07,960 --> 00:47:10,320
Speaker 2: as well, because it's more like an experience. It's something

1048
00:47:10,360 --> 00:47:14,480
Speaker 2: that you engage my choice, yeah, and something that you

1049
00:47:14,520 --> 00:47:17,160
Speaker 2: do together. And so I setting some money aside for

1050
00:47:17,200 --> 00:47:22,239
Speaker 2: that doesn't seem quite as enabling, I guess. But man,

1051
00:47:22,360 --> 00:47:23,759
Speaker 2: the more I think about it, the more I'm like,

1052
00:47:23,840 --> 00:47:25,560
Speaker 2: I want you to kind of figure out how to

1053
00:47:25,560 --> 00:47:27,520
Speaker 2: get out there, how to build something, how to be creative,

1054
00:47:27,520 --> 00:47:29,680
Speaker 2: how to solve a problem out in the world. That

1055
00:47:29,960 --> 00:47:32,480
Speaker 2: is where the world is then going to reward you

1056
00:47:32,560 --> 00:47:34,799
Speaker 2: with value. And that's something that I think you really

1057
00:47:34,840 --> 00:47:37,520
Speaker 2: do lose when in the back of your mind you

1058
00:47:37,600 --> 00:47:40,320
Speaker 2: know that, well, I'll be fine at some point. Anyway,

1059
00:47:40,560 --> 00:47:41,399
Speaker 2: Mom and Dad had money.

1060
00:47:41,480 --> 00:47:44,719
Speaker 1: Here's a fallback plan. Yeah, you don't want to communicate that.

1061
00:47:44,760 --> 00:47:47,640
Speaker 1: We certainly don't want to communicate that, even though I

1062
00:47:47,640 --> 00:47:49,960
Speaker 1: think there are things that because yeah, I think our

1063
00:47:50,040 --> 00:47:53,840
Speaker 1: kids have access to more than what I had access to,

1064
00:47:53,920 --> 00:47:56,120
Speaker 1: more than what you had access to, Emily, and we're

1065
00:47:56,640 --> 00:48:00,120
Speaker 1: glad for some of that. But then it's also you

1066
00:48:00,120 --> 00:48:04,040
Speaker 1: you want them to have. You want to build something

1067
00:48:04,440 --> 00:48:09,640
Speaker 1: that's based on their abilities and their desire and not

1068
00:48:09,760 --> 00:48:11,759
Speaker 1: just be handed something for sure, and I think there's

1069
00:48:11,760 --> 00:48:13,399
Speaker 1: just a lot more joy in that too, for them

1070
00:48:13,440 --> 00:48:15,680
Speaker 1: to get to work for the things that they want

1071
00:48:15,680 --> 00:48:16,560
Speaker 1: to accomplish in life.

1072
00:48:16,800 --> 00:48:19,680
Speaker 2: Yeah, yeah, I mean I think like the not I

1073
00:48:19,719 --> 00:48:21,160
Speaker 2: don't want to say it's like point of life, but

1074
00:48:21,280 --> 00:48:24,359
Speaker 2: the ability to know yourself is like one of the

1075
00:48:24,480 --> 00:48:27,520
Speaker 2: chief ends of our ability to find satisfaction and fulfillment

1076
00:48:27,520 --> 00:48:30,200
Speaker 2: and happiness in life. And you do that, the process

1077
00:48:30,239 --> 00:48:33,200
Speaker 2: matters so much, just not just arriving at a certain

1078
00:48:33,200 --> 00:48:34,839
Speaker 2: point and having a ton of money and being able

1079
00:48:34,840 --> 00:48:36,160
Speaker 2: to do whatever it is that I want to do.

1080
00:48:36,400 --> 00:48:39,360
Speaker 2: Like that entire process is you figuring out what it

1081
00:48:39,400 --> 00:48:41,000
Speaker 2: is that lights you up, what it is that makes

1082
00:48:41,040 --> 00:48:43,279
Speaker 2: you excited. You learn more about yourself, you learn more

1083
00:48:43,320 --> 00:48:48,120
Speaker 2: about potential spouse or your family, and these are all

1084
00:48:48,120 --> 00:48:51,760
Speaker 2: stories that are part of your family, right, Like it's

1085
00:48:51,760 --> 00:48:53,880
Speaker 2: a part of your family culture, and it's just, oh,

1086
00:48:53,960 --> 00:48:55,919
Speaker 2: this is just how we do life. This is what's

1087
00:48:55,920 --> 00:48:57,879
Speaker 2: important to us, this is what's not important to us.

1088
00:48:57,960 --> 00:49:00,439
Speaker 2: All the things that we're not paying attention to. You can't.

1089
00:49:00,640 --> 00:49:03,839
Speaker 2: It's hard to arrive at those things without there being

1090
00:49:03,920 --> 00:49:05,200
Speaker 2: some sort of healthy struggle.

1091
00:49:05,239 --> 00:49:07,040
Speaker 1: I think, all right, question.

1092
00:49:07,480 --> 00:49:09,520
Speaker 3: Oh, I mean, I was just going to comment on

1093
00:49:09,680 --> 00:49:12,239
Speaker 3: this because I think it's it's so important. I think

1094
00:49:12,280 --> 00:49:15,360
Speaker 3: Kate said it so well that I think you're instilling

1095
00:49:15,360 --> 00:49:16,960
Speaker 3: it in your kids in so many ways. I think

1096
00:49:17,000 --> 00:49:19,279
Speaker 3: you guys do that really well as parents. Just like

1097
00:49:19,520 --> 00:49:23,279
Speaker 3: the ability to own who you are and own yourself

1098
00:49:23,360 --> 00:49:26,880
Speaker 3: and think through your decisions and go with it, you know,

1099
00:49:26,960 --> 00:49:28,600
Speaker 3: and figure it out. And I think that's so important.

1100
00:49:28,640 --> 00:49:30,080
Speaker 3: Whether you have a lot of money, are a little

1101
00:49:30,080 --> 00:49:32,360
Speaker 3: bit of money, yes.

1102
00:49:32,280 --> 00:49:36,200
Speaker 2: Not just the overt direct conversations that you're having about money.

1103
00:49:36,320 --> 00:49:39,279
Speaker 2: Is the way you approach others, This is the way

1104
00:49:39,320 --> 00:49:41,320
Speaker 2: you approach somebody in need. Is the way you approach

1105
00:49:41,480 --> 00:49:44,799
Speaker 2: your work that you're performing. Yeah, I mean, yeah, there's

1106
00:49:44,920 --> 00:49:45,719
Speaker 2: life lessons and.

1107
00:49:45,680 --> 00:49:47,920
Speaker 3: Everything that's so great. I think just in my own parenting,

1108
00:49:47,960 --> 00:49:50,080
Speaker 3: I'm trying to grow in that because I am a

1109
00:49:50,160 --> 00:49:53,200
Speaker 3: fixer and a doer and I again would probably be

1110
00:49:53,200 --> 00:49:54,399
Speaker 3: the first out of the four of us to pay

1111
00:49:54,400 --> 00:50:00,160
Speaker 3: for convenience and to make it easy for everyone in

1112
00:50:00,280 --> 00:50:02,719
Speaker 3: and just really trying to lean into the value of

1113
00:50:02,840 --> 00:50:06,360
Speaker 3: letting my kids struggle to find out who they are,

1114
00:50:06,400 --> 00:50:08,440
Speaker 3: because it really is where confidence is going to come

1115
00:50:08,480 --> 00:50:13,000
Speaker 3: and to not overparent them and not try to overconvenient them.

1116
00:50:13,000 --> 00:50:15,880
Speaker 3: And that's hard. That's a lesson for me, And I

1117
00:50:15,880 --> 00:50:18,440
Speaker 3: think partly why I learned it is I had to

1118
00:50:18,480 --> 00:50:20,239
Speaker 3: out of hardship, and I think we're not in the

1119
00:50:20,239 --> 00:50:22,480
Speaker 3: same position where our kids have to but I want

1120
00:50:22,520 --> 00:50:25,239
Speaker 3: to still instill that in them.

1121
00:50:25,440 --> 00:50:31,960
Speaker 1: Yeah, I think sometimes a lack of resources breeds creativity, right. Yeah, So,

1122
00:50:32,280 --> 00:50:33,600
Speaker 1: and we see that with our kids all the time.

1123
00:50:33,640 --> 00:50:36,239
Speaker 1: Is like you don't have some cool toy, and by

1124
00:50:36,239 --> 00:50:38,759
Speaker 1: the way, those often the new toy doesn't get played

1125
00:50:38,800 --> 00:50:40,600
Speaker 1: with as much do you think it's going to And

1126
00:50:41,280 --> 00:50:44,320
Speaker 1: anybody who has kids has found them playing with cardboard

1127
00:50:44,320 --> 00:50:48,239
Speaker 1: boxes or pots and pans or whatever random thing you

1128
00:50:48,280 --> 00:50:50,399
Speaker 1: didn't intend for them to use as a toy they

1129
00:50:50,480 --> 00:50:53,160
Speaker 1: use as a toy. Or there's certain mainstays, like they're

1130
00:50:53,239 --> 00:50:55,880
Speaker 1: using the bike all the time, right or there are

1131
00:50:55,920 --> 00:50:58,960
Speaker 1: a few toys maybe that they play with frequently. But

1132
00:50:59,360 --> 00:51:01,680
Speaker 1: it is interesting to see like that there are a

1133
00:51:01,719 --> 00:51:04,000
Speaker 1: lot of things that you that you acquire over the

1134
00:51:04,080 --> 00:51:08,000
Speaker 1: years never really get used. And I think that I

1135
00:51:08,040 --> 00:51:10,759
Speaker 1: think there is true, like we should it's it's probably

1136
00:51:10,800 --> 00:51:13,040
Speaker 1: good to be more thoughtful about what we bring it

1137
00:51:13,120 --> 00:51:16,200
Speaker 1: in general, just because I think we value we end

1138
00:51:16,239 --> 00:51:20,719
Speaker 1: up valuing the fewer things more than the many much

1139
00:51:20,760 --> 00:51:21,240
Speaker 1: of the time.

1140
00:51:22,080 --> 00:51:24,440
Speaker 2: Totally. All right, So we're talking about kids, what about parents?

1141
00:51:25,239 --> 00:51:28,200
Speaker 2: We're kind of quickly becoming the Sandwich generation where we've

1142
00:51:28,200 --> 00:51:31,080
Speaker 2: got aging parents while also trying to launch our kids

1143
00:51:31,120 --> 00:51:35,200
Speaker 2: out into the world. Say something y'all talked about. I

1144
00:51:35,239 --> 00:51:38,319
Speaker 2: know y'all talked about it because we're best friends with y'all,

1145
00:51:38,360 --> 00:51:40,399
Speaker 2: But is that something that y'all have directly talked about

1146
00:51:40,440 --> 00:51:42,520
Speaker 2: and what that might look like in the coming years.

1147
00:51:42,920 --> 00:51:45,680
Speaker 3: For sure, I think a chunk of our future financial

1148
00:51:45,680 --> 00:51:50,280
Speaker 3: decisions will be around how we take care of older

1149
00:51:50,320 --> 00:51:52,040
Speaker 3: parents and do they live with us? Do they not

1150
00:51:52,160 --> 00:51:54,680
Speaker 3: live with us? Do we renovate for them? Do we

1151
00:51:54,680 --> 00:51:57,800
Speaker 3: look for something different? Do we build a house tiny

1152
00:51:57,800 --> 00:52:01,520
Speaker 3: house in our backyard? Yeah, it's on top of mine.

1153
00:52:01,920 --> 00:52:02,279
Speaker 2: For sure.

1154
00:52:02,320 --> 00:52:07,839
Speaker 1: It's ongoing and it continues. It filters into almost every

1155
00:52:07,840 --> 00:52:12,000
Speaker 1: conversation we have. Okay, well, would that with this potential move,

1156
00:52:12,480 --> 00:52:14,120
Speaker 1: what it canstrain us from being able to do this

1157
00:52:14,360 --> 00:52:18,319
Speaker 1: for our parents if we needed to, because they're not

1158
00:52:18,440 --> 00:52:20,560
Speaker 1: of the age where they need that yet. But I've

1159
00:52:20,560 --> 00:52:22,960
Speaker 1: seen my parents have to do that with my mom's mom,

1160
00:52:23,239 --> 00:52:26,160
Speaker 1: my grandma, and I want to be prepared for that,

1161
00:52:26,400 --> 00:52:29,240
Speaker 1: and that could impact a whole lot of things, including

1162
00:52:29,320 --> 00:52:33,160
Speaker 1: living situation, which money is directly impacted by that.

1163
00:52:33,200 --> 00:52:36,440
Speaker 2: It's like the most expensive decision, right housing.

1164
00:52:36,640 --> 00:52:38,040
Speaker 1: Yeah, what about you guys.

1165
00:52:38,239 --> 00:52:40,239
Speaker 4: Oh, we have not really talked about it directly with

1166
00:52:40,320 --> 00:52:42,640
Speaker 4: either one of our parents, So it's.

1167
00:52:42,440 --> 00:52:43,839
Speaker 2: Something we've talked about.

1168
00:52:44,040 --> 00:52:46,759
Speaker 4: We have taken it into account we are renovating our house.

1169
00:52:46,800 --> 00:52:48,640
Speaker 4: We have taken it into account with the way that

1170
00:52:48,680 --> 00:52:50,120
Speaker 4: we are renovating our house for sure.

1171
00:52:50,160 --> 00:52:52,880
Speaker 2: But it's yes, that's some I mean, we haven't talked

1172
00:52:52,920 --> 00:52:55,400
Speaker 2: directly with them, so we probably won't talk about it

1173
00:52:55,480 --> 00:52:56,600
Speaker 2: here on the podcast.

1174
00:52:56,239 --> 00:52:59,359
Speaker 1: So correct just behind their back, which honestly is kind

1175
00:52:59,400 --> 00:53:02,080
Speaker 1: of how we because they're of the age where they

1176
00:53:02,080 --> 00:53:04,759
Speaker 1: don't want that to be part of our consideration yet,

1177
00:53:04,800 --> 00:53:07,640
Speaker 1: So I don't want to have that conversation directly with them.

1178
00:53:07,960 --> 00:53:09,120
Speaker 1: Maybe in like five years time.

1179
00:53:09,239 --> 00:53:11,920
Speaker 3: We've talked about it some in different places, in different

1180
00:53:11,920 --> 00:53:15,279
Speaker 3: ways with different family members. I partly am excited about it.

1181
00:53:15,320 --> 00:53:20,120
Speaker 3: I like the idea of generational, multi generational, multi generational, Yes,

1182
00:53:20,200 --> 00:53:22,080
Speaker 3: I love it. I grew up with my great grandmother

1183
00:53:22,719 --> 00:53:24,520
Speaker 3: living with us for a while. Those are some of

1184
00:53:24,560 --> 00:53:26,919
Speaker 3: my best memories. She loved to write and I would

1185
00:53:26,920 --> 00:53:28,919
Speaker 3: just sit at her feet, but she would just write

1186
00:53:28,920 --> 00:53:30,520
Speaker 3: it and then hand me like the page of whatever

1187
00:53:30,560 --> 00:53:33,440
Speaker 3: story to read next, and how she would cook breakfast

1188
00:53:33,440 --> 00:53:35,360
Speaker 3: for me, and it was fantastic. And so I do

1189
00:53:35,480 --> 00:53:38,719
Speaker 3: actually look forward to the multigenerational living at some point

1190
00:53:38,960 --> 00:53:41,520
Speaker 3: when I know it makes it easier when the living

1191
00:53:41,560 --> 00:53:44,759
Speaker 3: circumstances are smooth for everybody. Yeah, And so I think

1192
00:53:44,760 --> 00:53:46,640
Speaker 3: that's why I think about it when we talk about

1193
00:53:46,880 --> 00:53:49,000
Speaker 3: moving or do we renovate, because I want it to

1194
00:53:49,040 --> 00:53:52,080
Speaker 3: be a home run, because then it's so enjoyable when

1195
00:53:52,120 --> 00:53:53,680
Speaker 3: it can be a home run and you can have

1196
00:53:53,760 --> 00:53:55,440
Speaker 3: your spaces to retreat to, and then you can have

1197
00:53:55,480 --> 00:53:56,560
Speaker 3: your spaces to come together.

1198
00:53:56,680 --> 00:53:59,040
Speaker 2: And that's what's so hard is that it's all for

1199
00:53:59,080 --> 00:54:01,680
Speaker 2: the future. It's like, well, does it make sense to

1200
00:54:01,680 --> 00:54:05,160
Speaker 2: do that now, maybe even five ten years, but then

1201
00:54:05,320 --> 00:54:06,839
Speaker 2: what does life look like in five or ten years,

1202
00:54:06,840 --> 00:54:09,640
Speaker 2: because that's that's a ways off. That's where I think

1203
00:54:09,760 --> 00:54:12,120
Speaker 2: we have started. I'm finding a way to talk about

1204
00:54:12,160 --> 00:54:14,759
Speaker 2: this without talking about it directly here. But what we've

1205
00:54:14,800 --> 00:54:17,799
Speaker 2: realized is that we're a little bit away from having

1206
00:54:17,880 --> 00:54:20,400
Speaker 2: to make that some of those bigger calls, and so

1207
00:54:20,480 --> 00:54:22,600
Speaker 2: what we need to do is live life in the

1208
00:54:22,640 --> 00:54:24,839
Speaker 2: here and now, which for me, in the here now

1209
00:54:24,960 --> 00:54:27,960
Speaker 2: also involves the next several years, right, like medium term

1210
00:54:28,000 --> 00:54:31,560
Speaker 2: goals essentially, because I don't see that necessarily being on

1211
00:54:31,680 --> 00:54:34,000
Speaker 2: our horizon in the near term. So I don't know.

1212
00:54:34,000 --> 00:54:35,960
Speaker 2: That's how I thought about it. At least I like the.

1213
00:54:35,960 --> 00:54:38,040
Speaker 3: Term medium term goal because you're still right, that's actually

1214
00:54:38,080 --> 00:54:38,800
Speaker 3: the tricky spot.

1215
00:54:38,880 --> 00:54:41,560
Speaker 2: Like a short term goals are easy because you're going

1216
00:54:41,600 --> 00:54:43,359
Speaker 2: to do it long term, yet long term is kind

1217
00:54:43,360 --> 00:54:44,120
Speaker 2: of an autopilot.

1218
00:54:44,200 --> 00:54:47,040
Speaker 3: Yeah, the medium term goals, that's where it gets fish. Sure, fishing,

1219
00:54:47,080 --> 00:54:49,120
Speaker 3: I'm gonna remember that. You said. That's because that is

1220
00:54:49,160 --> 00:54:50,120
Speaker 3: a tricky spot.

1221
00:54:50,600 --> 00:54:53,759
Speaker 2: Yeah, timing is difficult. So anything else you want to

1222
00:54:53,800 --> 00:54:55,560
Speaker 2: talk about now, Le's get back to the beer, all right.

1223
00:54:55,680 --> 00:55:00,319
Speaker 1: The stegele Rattler is he tron Lemon, Emily, your thoughts

1224
00:55:00,360 --> 00:55:00,799
Speaker 1: on this beer?

1225
00:55:01,719 --> 00:55:04,080
Speaker 3: Delicious? This is like my second one today, I think,

1226
00:55:04,120 --> 00:55:08,960
Speaker 3: so I approve. I do like the grapefruit one is

1227
00:55:08,960 --> 00:55:11,320
Speaker 3: my favorite, even over the lemon grapefruit.

1228
00:55:11,320 --> 00:55:14,040
Speaker 2: It's a little bit better. And that's well that's me.

1229
00:55:14,120 --> 00:55:16,040
Speaker 2: I don't. I'm not a huge lemon fan myself. So

1230
00:55:16,680 --> 00:55:21,200
Speaker 2: K was making a whiskey sour last night. Involves a

1231
00:55:21,239 --> 00:55:24,040
Speaker 2: lot of lemon. Not my jam. You like it, though, Yeah,

1232
00:55:24,080 --> 00:55:24,520
Speaker 2: I like it.

1233
00:55:24,640 --> 00:55:25,400
Speaker 3: I like this beer too.

1234
00:55:25,480 --> 00:55:27,560
Speaker 4: It would just to me this tastes like vacation because

1235
00:55:27,600 --> 00:55:30,560
Speaker 4: the only time we have it, it's on vacation with y'all. Yeah,

1236
00:55:30,719 --> 00:55:33,080
Speaker 4: it just is like, oh, yeah, we're at the beach.

1237
00:55:33,320 --> 00:55:33,840
Speaker 4: They're friends.

1238
00:55:33,880 --> 00:55:36,160
Speaker 2: Now. It's like having a spiced ham over the holidays. Yeah,

1239
00:55:36,400 --> 00:55:37,880
Speaker 2: this is when you eat this. You don't eat this

1240
00:55:37,960 --> 00:55:40,120
Speaker 2: in the middle like the fourth of July. I know,

1241
00:55:40,200 --> 00:55:41,719
Speaker 2: this is a Christmas time thing.

1242
00:55:41,800 --> 00:55:45,480
Speaker 1: The can is just so classic. And the lemon, you're

1243
00:55:45,680 --> 00:55:47,480
Speaker 1: I mean, it's not my lemon, it's not my favorite.

1244
00:55:47,880 --> 00:55:50,080
Speaker 1: But I really like this beer. And it's got this

1245
00:55:50,920 --> 00:55:54,880
Speaker 1: bright almost like myer lemon vibe coming through it's and

1246
00:55:54,960 --> 00:55:58,200
Speaker 1: so I dig this beer because it's again, it's like

1247
00:55:58,239 --> 00:56:01,840
Speaker 1: a it's like half juice half beer, which I like.

1248
00:56:02,040 --> 00:56:03,520
Speaker 1: I don't know, I like juice and I like beers.

1249
00:56:03,800 --> 00:56:05,080
Speaker 1: I think that so great.

1250
00:56:05,160 --> 00:56:06,959
Speaker 3: I just as an adult, feel like I can't drink

1251
00:56:07,040 --> 00:56:08,759
Speaker 3: juice really, but juice is fantastic.

1252
00:56:09,360 --> 00:56:11,080
Speaker 1: It feels like it's for kids, but this is like

1253
00:56:11,120 --> 00:56:11,840
Speaker 1: the adult version.

1254
00:56:12,280 --> 00:56:13,160
Speaker 3: It's wonderful.

1255
00:56:13,960 --> 00:56:17,879
Speaker 2: It's sweet and fruity but awesome. I'm glad we got

1256
00:56:17,880 --> 00:56:20,080
Speaker 2: to enjoy this one today. Glad you ladies were willing

1257
00:56:20,080 --> 00:56:22,439
Speaker 2: to sit down with us and talk about money yet

1258
00:56:22,440 --> 00:56:25,440
Speaker 2: again here on the podcast. So until next time. I

1259
00:56:25,440 --> 00:56:44,719
Speaker 2: think we often say this together now simultaneously. All right,

1260
00:56:44,719 --> 00:56:46,759
Speaker 2: hold on, all right, So the big girls wanted to

1261
00:56:46,840 --> 00:56:49,319
Speaker 2: jump on because I just came wandering up here. First

1262
00:56:49,360 --> 00:56:51,880
Speaker 2: time you want to say, hey, Hello, what up?

1263
00:56:51,960 --> 00:56:52,480
Speaker 1: Salma?

1264
00:56:52,719 --> 00:56:53,080
Speaker 3: Hi?

1265
00:56:53,760 --> 00:56:55,680
Speaker 2: All r Joey got a money question for Okay, So

1266
00:56:55,840 --> 00:57:00,400
Speaker 2: how do you feel about investing? Saving retirements? Much? Actually,

1267
00:57:00,400 --> 00:57:02,640
Speaker 2: don't listen to this Earlier we're talking about generational wealth.

1268
00:57:02,640 --> 00:57:04,839
Speaker 2: Heavy tune that part out.

1269
00:57:04,920 --> 00:57:06,120
Speaker 1: Are you a vanguard or for delity?

1270
00:57:06,120 --> 00:57:06,319
Speaker 2: Gal?

1271
00:57:06,640 --> 00:57:09,520
Speaker 1: Uh no? Some What are you currently saving up for?

1272
00:57:10,440 --> 00:57:11,120
Speaker 4: For my birthday?

1273
00:57:11,160 --> 00:57:12,479
Speaker 2: Got a trip to New York?

1274
00:57:12,560 --> 00:57:13,759
Speaker 3: So I'm saving up for.

1275
00:57:15,400 --> 00:57:18,360
Speaker 1: Souvenirs in New York. We actually talked about that on

1276
00:57:18,400 --> 00:57:21,080
Speaker 1: this podcast episode. So that's great. I can't see wait

1277
00:57:21,120 --> 00:57:22,000
Speaker 1: to see what you bring.

1278
00:57:21,800 --> 00:57:24,320
Speaker 2: Back, girl, Heavy, I'm really excited. Hevy, what about you?

1279
00:57:24,360 --> 00:57:27,440
Speaker 2: What are you saving? Saving up for these days. Not

1280
00:57:27,600 --> 00:57:30,640
Speaker 2: a lot, but I'll say that I'm saving up for

1281
00:57:30,720 --> 00:57:33,960
Speaker 2: a volleyball nut that can go over our pool, if

1282
00:57:33,960 --> 00:57:34,920
Speaker 2: and when we get one.

1283
00:57:34,800 --> 00:57:35,680
Speaker 1: After the renovation.

1284
00:57:35,880 --> 00:57:39,160
Speaker 2: If and when, yeah, stick with when.

1285
00:57:40,000 --> 00:57:41,920
Speaker 1: Just just force your dad's hand on that