1 00:00:00,160 --> 00:00:03,040 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt. 2 00:00:03,279 --> 00:00:25,880 Speaker 1: Today we're discussing your employer benefits you're missing out on. Dude. 3 00:00:25,880 --> 00:00:27,840 Speaker 1: It makes me think back to my first job when 4 00:00:27,880 --> 00:00:30,360 Speaker 1: I was working at the local golf course there in Augusta, 5 00:00:30,760 --> 00:00:35,280 Speaker 1: not the Augusta National less prestigious golf course, but man, 6 00:00:36,120 --> 00:00:38,360 Speaker 1: to see the numbers that were coming out of my 7 00:00:38,479 --> 00:00:40,839 Speaker 1: pay I was like, how come I'm not getting the 8 00:00:40,880 --> 00:00:43,640 Speaker 1: amount that I'm supposed to receive. In that case, I 9 00:00:43,680 --> 00:00:46,680 Speaker 1: wasn't receiving benefits. It was all taxes. But there are 10 00:00:46,800 --> 00:00:50,720 Speaker 1: a lot of benefits that sometimes are deductive from our paychecks. 11 00:00:50,760 --> 00:00:52,640 Speaker 1: And that's what we're gonna focus on today. Not all 12 00:00:52,720 --> 00:00:55,000 Speaker 1: benefits that you might receive from your employer are deducted 13 00:00:55,040 --> 00:00:57,960 Speaker 1: from your paycheck, but about half the ones we're gonna 14 00:00:57,960 --> 00:01:00,480 Speaker 1: talk about today are, and about half of them aren't. 15 00:01:00,720 --> 00:01:03,280 Speaker 1: I'm excited to talk about this today with you, my friend. Yeah, 16 00:01:03,360 --> 00:01:05,520 Speaker 1: let's talk about something that we're not deducted from your paycheck. 17 00:01:05,560 --> 00:01:07,760 Speaker 1: Probably back then, I'm sure you got to hit the 18 00:01:07,760 --> 00:01:10,080 Speaker 1: golf ball some like, you know, for free. I'm sure 19 00:01:10,080 --> 00:01:12,400 Speaker 1: you got some free food from the clubhouse on occasion 20 00:01:12,400 --> 00:01:14,600 Speaker 1: pretty much anytime we wanted, probably got to act like 21 00:01:14,640 --> 00:01:16,959 Speaker 1: a madman in the golf cards and driving around the 22 00:01:17,000 --> 00:01:20,440 Speaker 1: golf course, and unlimited range tokens as well. You can 23 00:01:20,480 --> 00:01:22,440 Speaker 1: just go by, grab some of those range tokens, head 24 00:01:22,440 --> 00:01:24,920 Speaker 1: over to the driving range, smash a bucket of balls 25 00:01:24,920 --> 00:01:26,360 Speaker 1: if you wanted to. It was a lot of fun 26 00:01:26,400 --> 00:01:28,400 Speaker 1: back the day. Those are the important kind of things 27 00:01:28,920 --> 00:01:31,000 Speaker 1: that to take note of when you're especially when you're 28 00:01:31,000 --> 00:01:34,600 Speaker 1: talking about a teenage job. Oh, certainly meaningful as a kid. Yeah, sure, 29 00:01:34,640 --> 00:01:37,200 Speaker 1: those secondary benefits really do pay off in a big way, like, 30 00:01:37,240 --> 00:01:38,920 Speaker 1: oh cool, let's stay for an extra hour and hit 31 00:01:38,959 --> 00:01:42,000 Speaker 1: some balls on the range for free. But yeah, real quick, 32 00:01:42,000 --> 00:01:44,800 Speaker 1: before we get to our topic. Um, there's this game 33 00:01:44,880 --> 00:01:48,559 Speaker 1: I stumbled upon called Money Habitudes, and it's a game 34 00:01:48,640 --> 00:01:51,400 Speaker 1: that apparently is supposed to help you talk about money, 35 00:01:51,520 --> 00:01:53,560 Speaker 1: And yeah, I was just wondering, like, you got a 36 00:01:53,600 --> 00:01:55,160 Speaker 1: chance to take a look at it too, What are 37 00:01:55,160 --> 00:01:57,400 Speaker 1: your thoughts that? Don you think? You and I are 38 00:01:57,440 --> 00:02:00,200 Speaker 1: big fans of encouraging people to start money conversation sas, 39 00:02:00,200 --> 00:02:01,560 Speaker 1: and we know that it can be hard. You don't 40 00:02:01,560 --> 00:02:03,520 Speaker 1: want to necessarily just go out there and be like, hey, 41 00:02:03,520 --> 00:02:05,280 Speaker 1: how much money do you make every year? You know, 42 00:02:05,280 --> 00:02:07,120 Speaker 1: it's like a bad question to get the ball rolling, 43 00:02:07,360 --> 00:02:09,880 Speaker 1: but you know there are it's a bit abrasive, right exactly, 44 00:02:10,080 --> 00:02:12,640 Speaker 1: peper to ask it like that? Well whoa slow down? Um, 45 00:02:12,680 --> 00:02:14,919 Speaker 1: But there's obviously some some good that comes from opening 46 00:02:14,960 --> 00:02:17,040 Speaker 1: up the lines of money communication. And yeah, I was 47 00:02:17,080 --> 00:02:18,919 Speaker 1: wondering do you think a game can be helpful on that? Well, 48 00:02:18,960 --> 00:02:21,600 Speaker 1: so I do like it because it provides a format 49 00:02:21,680 --> 00:02:24,760 Speaker 1: or a framework to have these conversations in right, the 50 00:02:24,800 --> 00:02:28,560 Speaker 1: actual So it's like a deck of cards almost uh uh, 51 00:02:28,680 --> 00:02:31,639 Speaker 1: this habitudes money habitudes like cards against humanity, but for 52 00:02:31,760 --> 00:02:36,560 Speaker 1: money and way safer, way less offensive. And honestly, on 53 00:02:36,600 --> 00:02:38,120 Speaker 1: the face of it, it's a little cheesy, you know, 54 00:02:38,200 --> 00:02:39,640 Speaker 1: like I was reading some of the cards and some 55 00:02:39,680 --> 00:02:42,640 Speaker 1: of the prompts. Really it's a bit lame. But the 56 00:02:42,639 --> 00:02:44,280 Speaker 1: thing is it doesn't have to be the coolest thing ever. 57 00:02:44,400 --> 00:02:46,360 Speaker 1: Like the whole point is to get the ball rolling, 58 00:02:46,400 --> 00:02:49,000 Speaker 1: to get these conversations started. And you know that there's 59 00:02:49,040 --> 00:02:50,960 Speaker 1: a deck of cards, and you know, and you can 60 00:02:50,960 --> 00:02:52,519 Speaker 1: play it with somebody else too, Like that's the whole 61 00:02:52,520 --> 00:02:54,360 Speaker 1: point is that, Like, in particular, if you have a 62 00:02:54,360 --> 00:02:56,760 Speaker 1: significant other, you sit down together and you can flip 63 00:02:56,760 --> 00:02:59,760 Speaker 1: through these and essentially you identify with you know, what 64 00:02:59,840 --> 00:03:01,880 Speaker 1: it's saying on the card. You either say, oh, that's 65 00:03:01,919 --> 00:03:05,320 Speaker 1: totally me, or that's me sometimes or that's never me. Uh. 66 00:03:05,360 --> 00:03:07,560 Speaker 1: And so it's a good way to talk with you know, 67 00:03:07,600 --> 00:03:10,320 Speaker 1: a partner about money, but you can also do it 68 00:03:10,360 --> 00:03:12,040 Speaker 1: by yourself. And so I think it could be a 69 00:03:12,080 --> 00:03:14,400 Speaker 1: good thought exercise if these are things that you haven't 70 00:03:14,440 --> 00:03:17,480 Speaker 1: really thought all the way through. Maybe you listen to 71 00:03:17,480 --> 00:03:19,560 Speaker 1: the podcast, but maybe you're wanting to see where you 72 00:03:19,639 --> 00:03:21,800 Speaker 1: stand when it comes to some of these other areas 73 00:03:22,000 --> 00:03:23,920 Speaker 1: that maybe we haven't even talked about. It makes me 74 00:03:23,960 --> 00:03:26,440 Speaker 1: think about, like I think my girls when they got 75 00:03:26,520 --> 00:03:28,200 Speaker 1: a kid's meal at Chick fil A. One of the 76 00:03:28,240 --> 00:03:30,600 Speaker 1: things that came in it was some cards that would 77 00:03:30,600 --> 00:03:33,280 Speaker 1: help facilitate like dinner discussion. And some of those are 78 00:03:33,400 --> 00:03:37,200 Speaker 1: kind of lame too, but actually ultimately they're pretty fun 79 00:03:37,400 --> 00:03:38,760 Speaker 1: um at the end of the day, even though they're 80 00:03:38,800 --> 00:03:40,640 Speaker 1: kind of like maybe maybe it's a lame question on 81 00:03:40,680 --> 00:03:42,920 Speaker 1: the face. On its face, it seems lame, but if 82 00:03:42,960 --> 00:03:44,320 Speaker 1: we have a good time with it, you know, that's 83 00:03:44,360 --> 00:03:46,520 Speaker 1: exactly so it all depends on what you do with it. 84 00:03:46,600 --> 00:03:48,600 Speaker 1: Like I could totally see like maybe a set of 85 00:03:48,600 --> 00:03:50,440 Speaker 1: these cards like at a brewery or something like that, 86 00:03:50,640 --> 00:03:52,119 Speaker 1: like a coffee shop. If it was sitting there, I'd 87 00:03:52,120 --> 00:03:53,480 Speaker 1: be like, oh, what's that? And you pick it up 88 00:03:53,800 --> 00:03:55,120 Speaker 1: and kind of flip through it like you would flip 89 00:03:55,120 --> 00:03:57,480 Speaker 1: through a magazine maybe, but instead of just chatting about 90 00:03:57,520 --> 00:03:59,800 Speaker 1: whatever you're seeing in the book or the magazine. And 91 00:04:00,000 --> 00:04:01,839 Speaker 1: people aren't really doing that anymore, right, Like, no one's 92 00:04:01,840 --> 00:04:03,480 Speaker 1: really going into a coffee shop and sitting there and 93 00:04:03,560 --> 00:04:05,920 Speaker 1: like it's been a while reading a book at person. 94 00:04:06,160 --> 00:04:08,240 Speaker 1: But I can first see into the future maybe sometime 95 00:04:08,280 --> 00:04:10,160 Speaker 1: this summer doing that, and that would be a lot 96 00:04:10,200 --> 00:04:11,480 Speaker 1: of fun out of brewery, be like, oh, what do 97 00:04:11,480 --> 00:04:13,840 Speaker 1: you think about you know X? Like like or how 98 00:04:13,840 --> 00:04:15,720 Speaker 1: would you respond to this money situation? It's kind of 99 00:04:15,760 --> 00:04:17,280 Speaker 1: like what we do here on the show. Yeah, yeah, 100 00:04:17,320 --> 00:04:18,839 Speaker 1: I like that, So I we'll put a link to 101 00:04:19,120 --> 00:04:21,800 Speaker 1: that game in the show notes if you're interested, And again, 102 00:04:21,800 --> 00:04:23,120 Speaker 1: you've got to kind of go into it with your 103 00:04:23,120 --> 00:04:25,359 Speaker 1: own flare because it's not gonna provide much of that 104 00:04:25,400 --> 00:04:27,640 Speaker 1: on its own. Yeah, this isn't a full on endorsement, 105 00:04:27,839 --> 00:04:30,440 Speaker 1: but I gave. But if you do try it, let 106 00:04:30,560 --> 00:04:32,320 Speaker 1: us know how it is, because I haven't actually tried it, 107 00:04:32,400 --> 00:04:34,200 Speaker 1: or even if you have it, maybe you already have 108 00:04:34,240 --> 00:04:35,920 Speaker 1: it at your house. Yeah, that could be pretty cool 109 00:04:35,920 --> 00:04:39,040 Speaker 1: to hear from somebody who has used it, totally. Alright, Well, Matt, 110 00:04:39,080 --> 00:04:40,400 Speaker 1: let's mention the beer that we're having on the show. 111 00:04:40,400 --> 00:04:43,359 Speaker 1: This one's called Cocoa Bunny. It's by Creature Comforts Awesome 112 00:04:43,400 --> 00:04:46,640 Speaker 1: Brewery out of Athens, Georgia, and this is a milk porter. 113 00:04:46,960 --> 00:04:48,840 Speaker 1: So looking forward to having this one on the show 114 00:04:48,880 --> 00:04:51,120 Speaker 1: with you today, my friend. Yeah, that's right. And also 115 00:04:51,240 --> 00:04:53,640 Speaker 1: before we launch into things, I'm just gonna say real quick, 116 00:04:53,680 --> 00:04:57,160 Speaker 1: there's chainsaws going on outside outside our studio here to 117 00:04:57,240 --> 00:04:59,360 Speaker 1: palatial How To Money Studio. Yeah yeah, and I don't 118 00:04:59,400 --> 00:05:02,280 Speaker 1: think people gonna hear them, but just in case you can. Yeah, 119 00:05:02,440 --> 00:05:04,560 Speaker 1: it's actually here on the recording, and it's not happening 120 00:05:04,560 --> 00:05:07,640 Speaker 1: there in your neighbors. Yeah, it's it's it's happening where 121 00:05:07,680 --> 00:05:09,080 Speaker 1: we are, all right. Yeah, Well, let's get onto the 122 00:05:09,080 --> 00:05:11,320 Speaker 1: subject to hand. We're talking about employer benefits that you're 123 00:05:11,360 --> 00:05:14,160 Speaker 1: missing out on. Matt. I recently mentioned on the show 124 00:05:14,200 --> 00:05:16,440 Speaker 1: that I just left my job to become a full 125 00:05:16,440 --> 00:05:19,160 Speaker 1: time podcaster. Body, you kind of have been forced into 126 00:05:19,240 --> 00:05:22,440 Speaker 1: that through the pandemic as weddings are mostly non existent, 127 00:05:22,440 --> 00:05:25,040 Speaker 1: although they're they're on the comeback and you've done a few. 128 00:05:25,360 --> 00:05:28,080 Speaker 1: It's gonna be a hot year for right, It's like 129 00:05:28,080 --> 00:05:30,680 Speaker 1: that pent up demand. Oh yeah, everybody's gonna be getting hitched. 130 00:05:30,720 --> 00:05:32,560 Speaker 1: It's even if they don't want to, they're gonna do it, 131 00:05:32,640 --> 00:05:35,160 Speaker 1: you know. And I'm pumped to be working on how 132 00:05:35,160 --> 00:05:37,880 Speaker 1: the money stuff with you full time, my friend. Good stuff, 133 00:05:37,880 --> 00:05:40,080 Speaker 1: But I will say I'm already missing some of the 134 00:05:40,120 --> 00:05:41,839 Speaker 1: people that I worked with, as well as some of 135 00:05:41,839 --> 00:05:45,760 Speaker 1: the secondary benefits that my former employer offered. Uh, Matt, 136 00:05:45,800 --> 00:05:48,560 Speaker 1: you're a pretty good buss, right, but uh but you know, 137 00:05:48,680 --> 00:05:50,920 Speaker 1: you just don't offer the range of benefits that I've 138 00:05:50,960 --> 00:05:52,920 Speaker 1: kind of grown accustomed to. Hey, I do allow us 139 00:05:52,960 --> 00:05:55,920 Speaker 1: to continue drinking beer every well almost every episode. That's 140 00:05:55,920 --> 00:05:59,080 Speaker 1: a good point. That's a very good benefit. And uh yeah, 141 00:05:59,160 --> 00:06:01,360 Speaker 1: so I've I feel like I did a solid job 142 00:06:01,360 --> 00:06:03,880 Speaker 1: taking advantage of those benefits over the years where where 143 00:06:03,960 --> 00:06:06,479 Speaker 1: when I had access to them, but given how extensive 144 00:06:06,520 --> 00:06:08,520 Speaker 1: they were, I probably could have made it even more 145 00:06:08,560 --> 00:06:10,240 Speaker 1: of a priority to use them on the leg And 146 00:06:10,279 --> 00:06:12,440 Speaker 1: I feel like that's the impetus for this episode, Like 147 00:06:12,680 --> 00:06:15,720 Speaker 1: we want to talk about what benefits are often available, um, 148 00:06:15,760 --> 00:06:17,599 Speaker 1: and then encourage you to take advantage of them in 149 00:06:17,640 --> 00:06:19,719 Speaker 1: the right ways. Yeah, that's right. And the fact is, dude, 150 00:06:19,720 --> 00:06:22,680 Speaker 1: you are not alone. There are many potential benefits that 151 00:06:23,120 --> 00:06:25,200 Speaker 1: folks who are listening out there that your employer probably 152 00:06:25,200 --> 00:06:28,680 Speaker 1: offers that you may or may not be taking advantage of, right, 153 00:06:28,960 --> 00:06:31,520 Speaker 1: but not using those benefits to their fullest potential can 154 00:06:31,560 --> 00:06:34,599 Speaker 1: be akin to leaving money on the table. And we're 155 00:06:34,640 --> 00:06:38,200 Speaker 1: fans of you never leaving a dollar behind. Not every 156 00:06:38,240 --> 00:06:40,520 Speaker 1: benefit that we mentioned here today is going to be 157 00:06:40,600 --> 00:06:43,640 Speaker 1: of interest to you, but it's at least worth doing 158 00:06:43,640 --> 00:06:46,880 Speaker 1: a little digging to see what is available so that 159 00:06:46,960 --> 00:06:50,159 Speaker 1: you aren't leaving any any awesome benefits by the wayside. 160 00:06:50,200 --> 00:06:51,960 Speaker 1: We want to make sure that you're squeezing every little 161 00:06:52,000 --> 00:06:54,240 Speaker 1: less bit of toothpaste there out of the tube. It's 162 00:06:54,279 --> 00:06:56,400 Speaker 1: just they're waiting on you. Yeah. Yeah, And you know, 163 00:06:56,520 --> 00:06:59,479 Speaker 1: your salary obviously is a massively important feature of taking 164 00:06:59,480 --> 00:07:02,240 Speaker 1: a job. It's the biggest benefit that you're gonna receive. 165 00:07:02,400 --> 00:07:06,320 Speaker 1: Like I doubt that anybody out there has secondary benefits 166 00:07:06,320 --> 00:07:09,600 Speaker 1: that outweigh the regular income that they get, right, um, 167 00:07:09,640 --> 00:07:11,800 Speaker 1: except for like the super high rollers getting paid you 168 00:07:11,840 --> 00:07:15,240 Speaker 1: know in stock options. That's uh, that's not our listeners. 169 00:07:15,240 --> 00:07:18,200 Speaker 1: I don't think though. So. But your compensation package, of course, 170 00:07:18,240 --> 00:07:21,720 Speaker 1: goes far beyond just the salary piece, And especially if 171 00:07:21,760 --> 00:07:24,200 Speaker 1: you're in the job market looking for a new position 172 00:07:24,320 --> 00:07:27,160 Speaker 1: right now, it's really important to dissect not just the 173 00:07:27,280 --> 00:07:30,240 Speaker 1: upfront salary number, but to assess the additional benefits that 174 00:07:30,240 --> 00:07:32,480 Speaker 1: are being offered to you as well. You might find 175 00:07:32,560 --> 00:07:35,640 Speaker 1: that maybe a job with a five thousand dollar higher 176 00:07:35,680 --> 00:07:38,840 Speaker 1: starting salary is actually worse for you when you run 177 00:07:38,880 --> 00:07:42,600 Speaker 1: the numbers than another job, purely based on how the 178 00:07:42,600 --> 00:07:45,720 Speaker 1: benefits stack up. The job that pays more money might 179 00:07:45,760 --> 00:07:49,000 Speaker 1: restrict or not even offer other really important benefits. And 180 00:07:49,080 --> 00:07:51,880 Speaker 1: those benefits really really at up. Yeah. And one of 181 00:07:51,920 --> 00:07:55,280 Speaker 1: the other cool things about employer benefits as opposed to 182 00:07:55,320 --> 00:07:58,520 Speaker 1: increased pay is the fact that many of these benefits 183 00:07:58,560 --> 00:08:03,040 Speaker 1: aren't taxed all, or maybe they are tax efficient, right. 184 00:08:03,280 --> 00:08:04,960 Speaker 1: It's kind of like how the cash back that you 185 00:08:05,000 --> 00:08:07,440 Speaker 1: might earn with a credit card isn't taxed versus what 186 00:08:07,480 --> 00:08:10,120 Speaker 1: you earn on a savings account each year is taxed. 187 00:08:10,520 --> 00:08:13,360 Speaker 1: It's similar with some of these additional benefits, and so 188 00:08:13,480 --> 00:08:15,200 Speaker 1: we wanted to point this out because this is a 189 00:08:15,240 --> 00:08:18,400 Speaker 1: major reason that we are paying attention to these secondary benefits. 190 00:08:18,440 --> 00:08:20,280 Speaker 1: You know, having a bump in your pay is nice, 191 00:08:20,280 --> 00:08:22,480 Speaker 1: but when some of these benefits aren't taxed, you are 192 00:08:22,520 --> 00:08:26,200 Speaker 1: receiving that, you know, the full benefit, versus something being 193 00:08:26,240 --> 00:08:28,520 Speaker 1: taxed multiple times, which is what happens to your pay. 194 00:08:28,520 --> 00:08:31,320 Speaker 1: And that's what makes these benefits so valuable. Yeah, and 195 00:08:31,360 --> 00:08:33,360 Speaker 1: glass doors, well, they actually found that eight percent of 196 00:08:33,360 --> 00:08:37,959 Speaker 1: employees would prefer an uptick in benefits to getting more pay, 197 00:08:38,040 --> 00:08:40,400 Speaker 1: and that makes sense to me. Matt, My my last 198 00:08:40,400 --> 00:08:44,640 Speaker 1: boss offered the incredible benefit of a free international flight 199 00:08:44,720 --> 00:08:47,719 Speaker 1: every year. And it's not something we're offering here yet. 200 00:08:47,720 --> 00:08:50,960 Speaker 1: How the money not yet maybe someday, but that was like, man, 201 00:08:51,000 --> 00:08:53,440 Speaker 1: that was one. It was great for bonding with my 202 00:08:53,640 --> 00:08:56,520 Speaker 1: colleagues too. I get to see another part of the world. 203 00:08:56,559 --> 00:08:59,679 Speaker 1: I got to explore six different continents this way and 204 00:08:59,720 --> 00:09:01,559 Speaker 1: that as a park. We didn't go to Antarctica. I 205 00:09:01,600 --> 00:09:04,520 Speaker 1: don't know why, um, but yeah, not yet, But I 206 00:09:04,520 --> 00:09:06,880 Speaker 1: gotta say I know why four out of five people 207 00:09:06,920 --> 00:09:09,839 Speaker 1: would prefer an excellent benefit to more pay. There are 208 00:09:09,880 --> 00:09:12,840 Speaker 1: lots of employer benefits that can be even more rewarding 209 00:09:12,840 --> 00:09:15,439 Speaker 1: than just adding more pay into the equation. And I 210 00:09:15,480 --> 00:09:18,679 Speaker 1: feel like often those unique benefits develop an even greater 211 00:09:18,800 --> 00:09:21,559 Speaker 1: sense of loyalty to the place where you're working. Sometimes 212 00:09:21,559 --> 00:09:23,839 Speaker 1: those benefits you actually overvalue them. And I think it's 213 00:09:23,840 --> 00:09:25,800 Speaker 1: okay like to to say, you know what, this benefit 214 00:09:25,840 --> 00:09:27,840 Speaker 1: means more to me than cash, Like that's a normal 215 00:09:27,920 --> 00:09:30,840 Speaker 1: response when a solid benefit is offered from an employer 216 00:09:30,880 --> 00:09:33,840 Speaker 1: that you love. Yeah, in fact is those benefits are 217 00:09:33,960 --> 00:09:36,200 Speaker 1: not only good for you as the employee, but like 218 00:09:36,240 --> 00:09:38,720 Speaker 1: you said, like they're good for the employer as well. Right. 219 00:09:38,800 --> 00:09:41,520 Speaker 1: That bonding that takes place during something like a vacation, uh, 220 00:09:41,640 --> 00:09:43,240 Speaker 1: something like a trip where you're all kind of doing 221 00:09:43,280 --> 00:09:45,959 Speaker 1: it together, that's that's awesome. And the fact it's too 222 00:09:46,000 --> 00:09:48,280 Speaker 1: Had you just gotten more pay, there's a chance like 223 00:09:48,360 --> 00:09:50,400 Speaker 1: maybe you would have gone on another extra trip or 224 00:09:50,440 --> 00:09:52,599 Speaker 1: something like that, but you likely would have done the 225 00:09:52,640 --> 00:09:54,760 Speaker 1: smart and responsible thing with that money. You would have 226 00:09:54,800 --> 00:09:56,800 Speaker 1: sucked it away, you would have invested it. You wouldn't 227 00:09:56,800 --> 00:09:59,480 Speaker 1: have taken these steps that would have ensured a better 228 00:09:59,800 --> 00:10:03,320 Speaker 1: U workplace. Uh, camaraderie with your with your fellow coworkers, 229 00:10:03,400 --> 00:10:06,239 Speaker 1: right completely. Yeah. If if it weren't in the form 230 00:10:06,280 --> 00:10:09,560 Speaker 1: of free travel, I would not have spent it on travel. Probably, 231 00:10:09,559 --> 00:10:11,560 Speaker 1: you're right. And I think that's another reason that the 232 00:10:11,600 --> 00:10:14,440 Speaker 1: benefit is helpful, because it almost forces you to do 233 00:10:14,520 --> 00:10:16,920 Speaker 1: something or helps you do something that you might otherwise 234 00:10:16,960 --> 00:10:19,319 Speaker 1: put off. It's that nudge in the right direction. So, 235 00:10:19,760 --> 00:10:22,600 Speaker 1: but international plane tickets are pretty rare there when it 236 00:10:22,600 --> 00:10:25,440 Speaker 1: comes to different employers. Uh. And also too, we're not 237 00:10:25,440 --> 00:10:28,239 Speaker 1: going to be talking about like the Google style benefits 238 00:10:28,320 --> 00:10:32,079 Speaker 1: like yoga classes and chair massages, chef made meals I've 239 00:10:32,080 --> 00:10:35,040 Speaker 1: got going on there during lunch. But we will get 240 00:10:35,040 --> 00:10:37,640 Speaker 1: to the more common benefits that you're likely to have 241 00:10:37,679 --> 00:10:40,040 Speaker 1: access to and their importance. And we're gonna get to 242 00:10:40,080 --> 00:10:51,839 Speaker 1: all of those right after this break. All right, we're back. 243 00:10:51,960 --> 00:10:55,840 Speaker 1: Let's start talking about the most beneficial benefits Boo, yes, 244 00:10:55,840 --> 00:10:58,199 Speaker 1: I went there, and how you can use them to 245 00:10:58,240 --> 00:11:01,080 Speaker 1: your full advantage. And and let's start off like the 246 00:11:01,080 --> 00:11:03,560 Speaker 1: benefit that pretty much everybody knows if they have access 247 00:11:03,600 --> 00:11:06,280 Speaker 1: to this or not, is a workplace retirement account. Whether 248 00:11:06,320 --> 00:11:08,080 Speaker 1: it's oh yeah, four oh one k A four or 249 00:11:08,120 --> 00:11:10,200 Speaker 1: three B a t SP And we talk about this 250 00:11:10,320 --> 00:11:12,920 Speaker 1: a lot on the show. Getting a match is obviously 251 00:11:13,240 --> 00:11:15,360 Speaker 1: the big perk if your employer offers one of those 252 00:11:15,360 --> 00:11:18,559 Speaker 1: alongside it, so make sure not to leave that match 253 00:11:18,640 --> 00:11:20,880 Speaker 1: just sitting there. That was in our Money Gears episode 254 00:11:20,880 --> 00:11:22,960 Speaker 1: we talked about that it's such an important part of 255 00:11:23,000 --> 00:11:25,160 Speaker 1: building up wealth in your life. But even if you 256 00:11:25,200 --> 00:11:27,000 Speaker 1: don't have a match, there's a really good chance you're 257 00:11:27,000 --> 00:11:30,360 Speaker 1: gonna want to participate in your workplace retirement account. It 258 00:11:30,360 --> 00:11:33,080 Speaker 1: gives you access to being able to invest quite a 259 00:11:33,080 --> 00:11:35,880 Speaker 1: bit of money every year for the future, but also 260 00:11:35,920 --> 00:11:37,760 Speaker 1: to We're not gonna dwell on this topic very much 261 00:11:37,760 --> 00:11:39,520 Speaker 1: because we have talked about it before, but we couldn't 262 00:11:39,559 --> 00:11:42,000 Speaker 1: do this episode about benefits and not even mention it 263 00:11:42,040 --> 00:11:44,000 Speaker 1: at all. Yeah, that's right, And also it's worth noting 264 00:11:44,040 --> 00:11:46,120 Speaker 1: that there are sort of these hidden benefits kind of 265 00:11:46,160 --> 00:11:50,000 Speaker 1: located within a work sponsored retirement accounts, So for example, 266 00:11:50,120 --> 00:11:53,080 Speaker 1: you might have some automatic increases that are built into 267 00:11:53,080 --> 00:11:55,120 Speaker 1: your retirement plan. It sounds like it's not a big deal, right, 268 00:11:55,679 --> 00:11:57,960 Speaker 1: but we're gonna argue that it is because it helps 269 00:11:58,000 --> 00:12:01,400 Speaker 1: you to overcome the behavioral uh ineptitude that we all faced. 270 00:12:01,440 --> 00:12:04,120 Speaker 1: You know, it's it's tough to manually increase what we're 271 00:12:04,160 --> 00:12:08,640 Speaker 1: investing every year. Uh So oftentimes we don't increase how 272 00:12:08,679 --> 00:12:11,160 Speaker 1: much we're saving every year because it's not something that 273 00:12:11,280 --> 00:12:14,160 Speaker 1: you know is automatic. But many four ow K plans 274 00:12:14,200 --> 00:12:17,280 Speaker 1: will allow you to automatically increase the percentage of your 275 00:12:17,320 --> 00:12:20,360 Speaker 1: pay that you put into your retirement plan without having 276 00:12:20,400 --> 00:12:22,480 Speaker 1: to think about it. It's sort of like this automatic stairstep, 277 00:12:22,520 --> 00:12:25,480 Speaker 1: this kind of automatic ladder that's implemented. Uh and you 278 00:12:25,480 --> 00:12:28,080 Speaker 1: get to see those percentages increase every single year. Yeah. 279 00:12:28,080 --> 00:12:30,360 Speaker 1: So if you do have that, put it intomotion so 280 00:12:30,400 --> 00:12:32,040 Speaker 1: that you don't have to think about it from here 281 00:12:32,080 --> 00:12:34,880 Speaker 1: on out, whether whether you choose one to three every 282 00:12:34,960 --> 00:12:38,319 Speaker 1: year that you're going to step up your contributions increase 283 00:12:38,320 --> 00:12:40,920 Speaker 1: every year. I mean, if you're a real bott let's boy, 284 00:12:41,960 --> 00:12:44,000 Speaker 1: I mean, I think taking the advantage of that though, 285 00:12:44,040 --> 00:12:46,319 Speaker 1: sending that emotion so that you really don't have to 286 00:12:46,360 --> 00:12:48,320 Speaker 1: think about it. That the less you have to think 287 00:12:48,360 --> 00:12:51,839 Speaker 1: about contributing money to for your future, uh, the easier 288 00:12:51,840 --> 00:12:53,319 Speaker 1: it's going to be. Right. Yeah, And I mean I'll 289 00:12:53,360 --> 00:12:55,360 Speaker 1: say to we kind of have a love hate relationship 290 00:12:55,480 --> 00:12:59,160 Speaker 1: to automation. Right on one hand, I hate when we 291 00:12:59,200 --> 00:13:02,560 Speaker 1: become overly depend on this technology and you don't internalize 292 00:13:02,600 --> 00:13:04,600 Speaker 1: the fact that you are an investor. You like, you 293 00:13:04,600 --> 00:13:06,440 Speaker 1: haven't internalized you can't kind of come up with the 294 00:13:06,480 --> 00:13:07,960 Speaker 1: reason why it is that you're doing that. I don't 295 00:13:08,000 --> 00:13:10,800 Speaker 1: like that. However, at the same time, if it means 296 00:13:11,200 --> 00:13:13,840 Speaker 1: that you're starting to set money aside for your retirement 297 00:13:13,840 --> 00:13:16,040 Speaker 1: that you would not have done otherwise, than I mean, 298 00:13:16,080 --> 00:13:18,240 Speaker 1: I can't really argue with that, you know, totally, Like 299 00:13:18,320 --> 00:13:20,000 Speaker 1: in this case, I feel like it's an instance where 300 00:13:20,120 --> 00:13:21,960 Speaker 1: go ahead and start doing the thing that you should 301 00:13:21,960 --> 00:13:24,520 Speaker 1: be doing, even if you don't even necessarily completely know why, 302 00:13:24,800 --> 00:13:26,920 Speaker 1: and then over time you can kind of grow into 303 00:13:26,920 --> 00:13:30,640 Speaker 1: those bridges and totally. A potential downside to a workplace 304 00:13:30,640 --> 00:13:34,520 Speaker 1: retirement plans that's worth mentioning is that your employer might 305 00:13:34,520 --> 00:13:36,840 Speaker 1: be offering you a plan that has really had fees 306 00:13:36,920 --> 00:13:40,240 Speaker 1: inside of that workplace retirement account. It's still likely worth 307 00:13:40,280 --> 00:13:42,640 Speaker 1: it if they offer a match, but if they don't, 308 00:13:42,840 --> 00:13:45,880 Speaker 1: you might be better off investing inside of your own 309 00:13:45,920 --> 00:13:48,880 Speaker 1: I RA first. A good rule of Thomas actually look 310 00:13:48,920 --> 00:13:51,840 Speaker 1: for the funds in your employer's plan that have the 311 00:13:51,880 --> 00:13:55,800 Speaker 1: lowest expense ratio. Those are often total stock market funds 312 00:13:55,920 --> 00:13:59,200 Speaker 1: or target date retirement funds, which are great funds. They're 313 00:13:59,240 --> 00:14:01,320 Speaker 1: well diversified, and they're like the easiest ones to pick. 314 00:14:01,400 --> 00:14:04,640 Speaker 1: So if you're kind of be fuddled by which fund 315 00:14:04,720 --> 00:14:07,880 Speaker 1: to its started investing in in your employer's plan, look 316 00:14:07,880 --> 00:14:10,080 Speaker 1: at the expense ratio, go down the list, find the 317 00:14:10,120 --> 00:14:12,560 Speaker 1: lowest one. In all likelihood that is going to be 318 00:14:12,600 --> 00:14:14,040 Speaker 1: one of the best funds for you to put your 319 00:14:14,040 --> 00:14:16,160 Speaker 1: money in. That is true, man, And so let's go 320 00:14:16,160 --> 00:14:18,520 Speaker 1: ahead and move on then to the next benefit that 321 00:14:18,559 --> 00:14:21,200 Speaker 1: we want to cover. U. Some employers are helping to 322 00:14:21,360 --> 00:14:24,840 Speaker 1: pay down student loan balances for their employees. Your employer 323 00:14:24,880 --> 00:14:27,760 Speaker 1: can pay five thousand, two hundred fifty dollars annually towards 324 00:14:27,840 --> 00:14:30,800 Speaker 1: your student loan balance, and the best part is that 325 00:14:30,920 --> 00:14:33,880 Speaker 1: it doesn't count towards your taxable income. This is a 326 00:14:33,960 --> 00:14:36,840 Speaker 1: perk that is becoming more common, UH and one that 327 00:14:36,920 --> 00:14:39,840 Speaker 1: is massively beneficial to many of the young people in 328 00:14:39,840 --> 00:14:42,440 Speaker 1: the workforce today. And your employer can make these payments 329 00:14:42,480 --> 00:14:46,320 Speaker 1: either directly to you, the employee, or directly to the 330 00:14:46,400 --> 00:14:49,640 Speaker 1: lender who is servicing your loan. This is specifically a 331 00:14:49,680 --> 00:14:52,320 Speaker 1: benefit due to the the Cares Act from last year, 332 00:14:52,360 --> 00:14:55,800 Speaker 1: and it's set to go through five. At that point 333 00:14:55,960 --> 00:14:57,960 Speaker 1: we will see if it continues to be a tax 334 00:14:58,040 --> 00:15:01,040 Speaker 1: free benefit. Yeah, and I like that to Matt. Since 335 00:15:01,080 --> 00:15:05,480 Speaker 1: this is a relatively new benefit potential for employers. As 336 00:15:05,520 --> 00:15:07,920 Speaker 1: an employee, it's worth bringing up and asking your HR 337 00:15:07,960 --> 00:15:10,880 Speaker 1: department the question, Hey, is this offered? If not, is 338 00:15:10,920 --> 00:15:14,200 Speaker 1: there any plan in the future that this might be offered, 339 00:15:14,240 --> 00:15:16,600 Speaker 1: Because Yeah, that's a good chunk of change that you're 340 00:15:16,640 --> 00:15:18,080 Speaker 1: gonna be able to get tax free to go towards 341 00:15:18,080 --> 00:15:21,320 Speaker 1: your student loans if your employer jumps on board. So yeah, 342 00:15:21,360 --> 00:15:23,800 Speaker 1: worth asking the question. At least. The next benefit that 343 00:15:23,800 --> 00:15:25,320 Speaker 1: we want to cover is h S, A S and 344 00:15:25,520 --> 00:15:29,160 Speaker 1: f S as Health savings accounts and flexible spending accounts 345 00:15:29,200 --> 00:15:33,280 Speaker 1: are often another killer perk that offer significant tax benefits 346 00:15:33,360 --> 00:15:36,400 Speaker 1: to you if you use them wisely. H s as 347 00:15:36,440 --> 00:15:39,680 Speaker 1: in particular, if you have a high deductible healthcare plan 348 00:15:39,880 --> 00:15:44,080 Speaker 1: are or like having another tax advantaged retirement account. They're 349 00:15:44,080 --> 00:15:47,480 Speaker 1: actually the most tax advantaged account that currently exists on 350 00:15:47,520 --> 00:15:50,320 Speaker 1: the face of the earth. That triple triple tax advantage exactly. 351 00:15:50,840 --> 00:15:53,040 Speaker 1: We talked about this in depth and episode one oh five, 352 00:15:53,400 --> 00:15:56,200 Speaker 1: So don't skip over those plans when open enrollment is 353 00:15:56,240 --> 00:15:58,680 Speaker 1: going on where you work. If it makes sense for you, 354 00:15:58,760 --> 00:16:01,560 Speaker 1: going into a high deduct corble healthcare plan just to 355 00:16:01,560 --> 00:16:03,920 Speaker 1: take advantage of an h s A essentially could be 356 00:16:03,960 --> 00:16:07,160 Speaker 1: a killer move because it's gonna allow you to save 357 00:16:07,240 --> 00:16:12,160 Speaker 1: and invest more for your retirement inside of this little 358 00:16:12,200 --> 00:16:14,760 Speaker 1: vehicle that not many people know enough about. And h 359 00:16:14,840 --> 00:16:17,560 Speaker 1: h s as have become way more common as employers 360 00:16:17,640 --> 00:16:20,880 Speaker 1: offer more and more high deductible plans in order to 361 00:16:20,920 --> 00:16:23,760 Speaker 1: cut their healthcare costs. Uh. And then f s a 362 00:16:23,920 --> 00:16:27,160 Speaker 1: s have an even longer history and go beyond healthcare expenses. 363 00:16:27,200 --> 00:16:30,640 Speaker 1: You can open a healthcare and a dependent care f 364 00:16:30,800 --> 00:16:33,360 Speaker 1: s A as a way to avoid income tax on 365 00:16:33,400 --> 00:16:35,400 Speaker 1: the money that you will spend this year on either 366 00:16:35,480 --> 00:16:39,240 Speaker 1: healthcare expenses or daycare. And you know, if you max 367 00:16:39,320 --> 00:16:42,200 Speaker 1: these out, you will avoid tax on seven thousand, seven 368 00:16:42,400 --> 00:16:45,120 Speaker 1: fifty dollars and earnings. Uh. That's a good chunk of 369 00:16:45,120 --> 00:16:48,560 Speaker 1: money that you are receiving full on without being taxed on. Yeah, 370 00:16:48,560 --> 00:16:51,000 Speaker 1: it's so great. Yeah. Yeah. And again I F I say, 371 00:16:51,000 --> 00:16:53,320 Speaker 1: though you have to pay specific attention to the details, 372 00:16:53,360 --> 00:16:55,360 Speaker 1: because if you stock all that money away and then 373 00:16:55,400 --> 00:16:57,960 Speaker 1: you don't actually use it that year, f I say, 374 00:16:58,040 --> 00:16:59,480 Speaker 1: is like use it or lose it, And and so 375 00:16:59,520 --> 00:17:01,800 Speaker 1: you want to make sure that you're only putting away 376 00:17:01,880 --> 00:17:03,360 Speaker 1: what you're going to be able to use the next year. 377 00:17:03,760 --> 00:17:06,040 Speaker 1: Matt was just giving the maximum amount that you can 378 00:17:06,600 --> 00:17:09,000 Speaker 1: put away tax free, but only if you're gonna actually 379 00:17:09,119 --> 00:17:11,840 Speaker 1: use that much on healthcare and dependent care expenses. Otherwise 380 00:17:11,840 --> 00:17:13,879 Speaker 1: you might end up with a ton of sunscreen in 381 00:17:13,920 --> 00:17:17,400 Speaker 1: your closet that might go bad over the years. Yeah, exactly. 382 00:17:17,800 --> 00:17:19,520 Speaker 1: And no matter where you're employed and h s A 383 00:17:19,560 --> 00:17:21,080 Speaker 1: or an f s A, those are those are pretty 384 00:17:21,080 --> 00:17:23,199 Speaker 1: popular offerings. You're likely going to have access to one 385 00:17:23,240 --> 00:17:26,400 Speaker 1: of the two at many employers that you'd work for. 386 00:17:27,000 --> 00:17:29,560 Speaker 1: One that you probably don't have access to or very 387 00:17:29,560 --> 00:17:32,600 Speaker 1: few people do as an e SPP employee stock purchase plan. 388 00:17:33,240 --> 00:17:35,399 Speaker 1: And if you do and you use it properly, this 389 00:17:35,440 --> 00:17:37,520 Speaker 1: can be another solid benefit. I don't want to dwell 390 00:17:37,600 --> 00:17:40,120 Speaker 1: on this because this is not a benefit that most 391 00:17:40,119 --> 00:17:42,080 Speaker 1: people have that we've talked about it in the past, though. 392 00:17:42,119 --> 00:17:44,199 Speaker 1: We'll put a link in the show notes to an 393 00:17:44,200 --> 00:17:46,920 Speaker 1: episode where we did discuss ees pps in some detail. 394 00:17:47,400 --> 00:17:49,320 Speaker 1: And and Matt, two, let's talk about life insurance. Many 395 00:17:49,320 --> 00:17:52,920 Speaker 1: employers will offer you free life insurance coverage. This isn't 396 00:17:52,920 --> 00:17:55,920 Speaker 1: a major perk because term life insurance is pretty cheap, 397 00:17:56,119 --> 00:17:58,280 Speaker 1: so but it's still nice to have, right, It's still 398 00:17:58,320 --> 00:18:00,240 Speaker 1: a benefit that that you can that you can get 399 00:18:00,320 --> 00:18:02,119 Speaker 1: through a lot of employers. And I will say it 400 00:18:02,119 --> 00:18:05,720 Speaker 1: becomes an even better benefit though if you have like 401 00:18:05,800 --> 00:18:08,760 Speaker 1: severe medical issues that would prevent you from being able 402 00:18:08,800 --> 00:18:11,040 Speaker 1: to shop for term life insurance and get a policy 403 00:18:11,119 --> 00:18:13,560 Speaker 1: on your own on the open market. Like, if you 404 00:18:13,640 --> 00:18:15,920 Speaker 1: have like a medical history that's not looking so good, 405 00:18:16,280 --> 00:18:18,960 Speaker 1: a life insurance company is less likely to offer you 406 00:18:18,960 --> 00:18:20,720 Speaker 1: a policy or or it's likely to cost you a 407 00:18:20,760 --> 00:18:23,080 Speaker 1: whole lot of money. And for most people, getting even 408 00:18:23,119 --> 00:18:24,919 Speaker 1: just a little bit of free life insurance through your 409 00:18:24,920 --> 00:18:28,240 Speaker 1: employer it is a nice little benefit. Yeah, absolutely, man, 410 00:18:28,359 --> 00:18:30,720 Speaker 1: it is. And of course, in addition to that that 411 00:18:30,760 --> 00:18:32,439 Speaker 1: free amount that your employer offers, you want to make 412 00:18:32,440 --> 00:18:34,439 Speaker 1: sure that you're snagging your own life insurance by shopping 413 00:18:34,440 --> 00:18:37,159 Speaker 1: on a site light policy genius. You'll likely have the 414 00:18:37,240 --> 00:18:39,840 Speaker 1: choice to pay for more life insurance through your employer, 415 00:18:40,080 --> 00:18:41,919 Speaker 1: but that's a bad deal. That's a bad idea in 416 00:18:41,920 --> 00:18:45,119 Speaker 1: almost all cases. It's almost always going to be cheaper 417 00:18:45,119 --> 00:18:48,440 Speaker 1: to shop for your own policy. Plus that policy remains 418 00:18:49,000 --> 00:18:51,800 Speaker 1: with you even after you leave your employer, which is 419 00:18:51,920 --> 00:18:54,359 Speaker 1: very important to not have to worry about reinstituting a 420 00:18:54,359 --> 00:18:57,320 Speaker 1: new policy. Worried to change jobs. Yeah, I mean just 421 00:18:57,600 --> 00:19:00,159 Speaker 1: talking about my situation for a second, Matt, Like, I 422 00:19:00,240 --> 00:19:03,680 Speaker 1: had uh life insurance up to my annual income covered 423 00:19:03,720 --> 00:19:06,040 Speaker 1: by my employer every year, right, but now I don't 424 00:19:06,040 --> 00:19:08,360 Speaker 1: work there anymore, and so uh little how to money? 425 00:19:08,400 --> 00:19:10,439 Speaker 1: We don't don't have any life insurance offering, right, so 426 00:19:10,520 --> 00:19:12,640 Speaker 1: I've gotta go get my own. I already had obviously 427 00:19:12,760 --> 00:19:15,640 Speaker 1: my own in place. But it does make me think 428 00:19:15,920 --> 00:19:18,080 Speaker 1: maybe I need to get another policy. Maybe I need 429 00:19:18,080 --> 00:19:20,639 Speaker 1: to do some laddering, because layering, that's how I like 430 00:19:20,720 --> 00:19:22,560 Speaker 1: to picture it. Layer. It's like you got one layer 431 00:19:22,640 --> 00:19:25,399 Speaker 1: of like one umbrella. That's like, but maybe another umbrella 432 00:19:25,480 --> 00:19:27,399 Speaker 1: just in case, you know, with everyone masking it up, 433 00:19:27,400 --> 00:19:29,280 Speaker 1: it's like, maybe does one more one more layer will 434 00:19:29,320 --> 00:19:31,439 Speaker 1: help us out here? Right? Yeah? The double mask they 435 00:19:31,840 --> 00:19:35,240 Speaker 1: the double life insurance policy. And so yeah, now that 436 00:19:35,440 --> 00:19:38,480 Speaker 1: I no longer have that smaller policy like through my 437 00:19:38,600 --> 00:19:41,440 Speaker 1: through my former employer. Uh, it's it probably has time 438 00:19:41,440 --> 00:19:43,879 Speaker 1: for me to get a second policy for myself to 439 00:19:43,920 --> 00:19:46,359 Speaker 1: cover to cover my family. Uh in the case that 440 00:19:46,440 --> 00:19:49,320 Speaker 1: I died, right time to double up. Yeah, yeah, exactly. 441 00:19:49,480 --> 00:19:52,119 Speaker 1: So those are some like really hard benefits. I would 442 00:19:52,119 --> 00:19:55,600 Speaker 1: say that a lot of people have access to. They 443 00:19:55,640 --> 00:19:58,920 Speaker 1: offer you tax benefits, They offer you the ability to 444 00:19:58,960 --> 00:20:02,280 Speaker 1: invest for your few sure inside of these tax advantaged accounts, 445 00:20:02,600 --> 00:20:06,400 Speaker 1: and working for the man has its benefits in that regard, right, 446 00:20:06,480 --> 00:20:09,560 Speaker 1: But then there are other benefits that your employer might 447 00:20:09,600 --> 00:20:11,880 Speaker 1: offer you, And we'll get to some of those kind 448 00:20:11,880 --> 00:20:14,760 Speaker 1: of more secondary benefits that can still come in clutch 449 00:20:14,800 --> 00:20:17,560 Speaker 1: and be really meaningful. We'll talk about those after this break. 450 00:20:27,160 --> 00:20:28,880 Speaker 1: All right, we are back from the break, and we're 451 00:20:28,920 --> 00:20:31,760 Speaker 1: talking about these benefits that you can receive in your 452 00:20:31,800 --> 00:20:35,080 Speaker 1: paycheck that you're probably missing out on. Maybe it's because 453 00:20:35,680 --> 00:20:37,680 Speaker 1: you you you haven't opted in, but maybe it's also 454 00:20:37,760 --> 00:20:41,080 Speaker 1: because too you're with an employer who doesn't necessarily offer 455 00:20:41,200 --> 00:20:42,760 Speaker 1: some of these benefits. And so we feel that it's 456 00:20:42,800 --> 00:20:45,200 Speaker 1: important to at least be aware of these different benefits 457 00:20:45,280 --> 00:20:47,800 Speaker 1: when the time comes maybe for you to negotiate your salary. 458 00:20:47,840 --> 00:20:50,439 Speaker 1: Maybe you're even looking at other positions. It is important 459 00:20:50,480 --> 00:20:52,600 Speaker 1: to know what is out there. Uh, and Joel, before 460 00:20:52,600 --> 00:20:54,680 Speaker 1: the break, most of the benefits we were talking about 461 00:20:54,920 --> 00:20:57,200 Speaker 1: would be maybe what I would consider like paycheck benefits. 462 00:20:57,480 --> 00:21:00,480 Speaker 1: It's something that you see deducted from your pay but 463 00:21:00,520 --> 00:21:03,239 Speaker 1: it's something very tangible that that you receive. But we're 464 00:21:03,280 --> 00:21:05,920 Speaker 1: gonna talk now about some of these like softer benefits. 465 00:21:05,880 --> 00:21:10,600 Speaker 1: They're more like perks oftentimes from working for a specific company. Yeah, 466 00:21:10,640 --> 00:21:13,240 Speaker 1: And I will say too, when you're thinking about leaving 467 00:21:13,359 --> 00:21:15,920 Speaker 1: the workforce, in starting your own thing, becoming self employed, 468 00:21:16,240 --> 00:21:18,400 Speaker 1: working as a contractor, these are the kind of things 469 00:21:18,440 --> 00:21:20,480 Speaker 1: you have to take into account too, because you're gonna 470 00:21:20,480 --> 00:21:23,120 Speaker 1: have to start funneling more of your own resources towards 471 00:21:23,160 --> 00:21:26,000 Speaker 1: some of these benefits, right towards uh, saving money in 472 00:21:26,080 --> 00:21:29,560 Speaker 1: your own i RA or getting your own life insurance policy. 473 00:21:29,640 --> 00:21:31,800 Speaker 1: That you might have been content with what you had 474 00:21:31,800 --> 00:21:33,959 Speaker 1: through work, but if you signed to go do your 475 00:21:33,960 --> 00:21:36,720 Speaker 1: own things, start your own business. Uh, those are expenses 476 00:21:36,720 --> 00:21:39,680 Speaker 1: that you're gonna incur that aren't covered by your employer anymore. Yeah, 477 00:21:39,840 --> 00:21:42,080 Speaker 1: Or even if they're not necessarily expenses, there are things 478 00:21:42,080 --> 00:21:44,239 Speaker 1: that you're gonna have to be more intentional about right, 479 00:21:44,280 --> 00:21:46,959 Speaker 1: and so case on point, let's talk about flexibility. Uh. 480 00:21:47,000 --> 00:21:51,080 Speaker 1: Interestingly enough, Fractal Today survey and they found that flexibility 481 00:21:51,119 --> 00:21:55,280 Speaker 1: is the number two most desired benefit, right behind better health, 482 00:21:55,480 --> 00:21:59,560 Speaker 1: dental and vision insurance. Some workplaces, once you at your 483 00:21:59,560 --> 00:22:02,120 Speaker 1: desk from end of five, no matter what its scheduling, 484 00:22:02,160 --> 00:22:04,960 Speaker 1: a morning uh like dennisappointment is going to be out 485 00:22:04,960 --> 00:22:06,760 Speaker 1: of the question for you to take care of your teeth. 486 00:22:06,960 --> 00:22:09,919 Speaker 1: But other employers won't make you take a chunk of 487 00:22:09,920 --> 00:22:12,680 Speaker 1: PTO just for showing up a touch late or you know, 488 00:22:12,720 --> 00:22:15,480 Speaker 1: shifting your schedule around for personal needs. That's a real benefit, 489 00:22:15,560 --> 00:22:17,959 Speaker 1: So make sure that you recognize it as such. All 490 00:22:18,000 --> 00:22:21,920 Speaker 1: employers aren't created equally here, right, there's definitely something that 491 00:22:21,920 --> 00:22:25,399 Speaker 1: are employeers, no employees. All employeers are not created. Some 492 00:22:25,520 --> 00:22:28,359 Speaker 1: are definitely more demanding than others. Let's now, I want 493 00:22:28,400 --> 00:22:31,720 Speaker 1: to mention to like unlimited PTO policies. That was something 494 00:22:31,800 --> 00:22:33,719 Speaker 1: that was kind of starting to get instituted where I 495 00:22:33,760 --> 00:22:37,040 Speaker 1: worked before I walked out the door. Sounds pretty great. 496 00:22:37,240 --> 00:22:39,399 Speaker 1: It sounds great on its face. It makes it sounds 497 00:22:39,400 --> 00:22:43,800 Speaker 1: like like an old like Ryan's buffet, Golden Corral buffet. 498 00:22:44,440 --> 00:22:46,040 Speaker 1: Did you ever get to those back? Yes, it's been 499 00:22:46,119 --> 00:22:49,280 Speaker 1: quite a while though, and I'm glad it's been quite 500 00:22:49,280 --> 00:22:51,760 Speaker 1: a while. Same here, But yeah, it does feel like 501 00:22:51,920 --> 00:22:54,080 Speaker 1: four decisions. Wait, I can take as much vacation as 502 00:22:54,119 --> 00:22:55,879 Speaker 1: I want. This is like the best park in the world. 503 00:22:56,119 --> 00:22:58,760 Speaker 1: But it's it's funny. In reality, it doesn't work out 504 00:22:58,800 --> 00:23:02,040 Speaker 1: like that for most people. Most people feel guilty about 505 00:23:02,080 --> 00:23:05,840 Speaker 1: taking paid time off for taking vacation time when it 506 00:23:05,960 --> 00:23:08,680 Speaker 1: is an unlimited policy. I think when you're created a 507 00:23:08,760 --> 00:23:11,879 Speaker 1: certain number of weeks, four or five weeks of vacation, 508 00:23:12,280 --> 00:23:14,600 Speaker 1: you're more apt to take those days. But when an 509 00:23:14,600 --> 00:23:17,239 Speaker 1: employer is like it's unlimited, you're like, oh, man, I'm 510 00:23:17,280 --> 00:23:18,639 Speaker 1: not going past a week and a half. You know, 511 00:23:18,640 --> 00:23:20,000 Speaker 1: I don't want to let everyone down. I don't want 512 00:23:20,000 --> 00:23:22,200 Speaker 1: to get get fired or something like that. So yeah, 513 00:23:22,280 --> 00:23:24,600 Speaker 1: I wanted to mention that because I feel like those 514 00:23:24,800 --> 00:23:27,440 Speaker 1: unlimited PTO policies are becoming more and more of a thing. 515 00:23:27,720 --> 00:23:29,919 Speaker 1: People are already kind of reticent to take their vacation, 516 00:23:29,920 --> 00:23:31,359 Speaker 1: and when they don't actually know how much they have, 517 00:23:31,400 --> 00:23:33,560 Speaker 1: I think it actually makes them, you know, less willing 518 00:23:33,600 --> 00:23:35,760 Speaker 1: to take some time off. Yeah, so honestly, it kind 519 00:23:35,760 --> 00:23:38,200 Speaker 1: of makes me think of this illustration where, like you say, picture, 520 00:23:38,200 --> 00:23:39,960 Speaker 1: you've got a bunch of kids playing on a playground, 521 00:23:40,080 --> 00:23:43,399 Speaker 1: right uh, and it's next to a busy road and 522 00:23:43,400 --> 00:23:45,960 Speaker 1: there's no fence, and so most kids and a lot 523 00:23:46,000 --> 00:23:48,040 Speaker 1: and obviously adults as well, are gonna want those kids 524 00:23:48,040 --> 00:23:50,280 Speaker 1: to basically stay as far away from the road as possible, 525 00:23:50,359 --> 00:23:52,560 Speaker 1: right right, because it's just kind of like, well, you 526 00:23:52,600 --> 00:23:54,960 Speaker 1: know how far is definitely way too far, but between there, 527 00:23:55,480 --> 00:23:58,440 Speaker 1: who knows right first is now imagine that playground then 528 00:23:58,440 --> 00:24:00,840 Speaker 1: has a fence around it, right Well, in that case, 529 00:24:00,840 --> 00:24:02,359 Speaker 1: the kids are gonna be able to play all the 530 00:24:02,359 --> 00:24:03,760 Speaker 1: way up to the edge of that fence, and there's 531 00:24:03,760 --> 00:24:06,119 Speaker 1: gonna be way more of the playground that's utilized versus 532 00:24:06,280 --> 00:24:08,119 Speaker 1: you know, the other example where it's just like, well, 533 00:24:08,240 --> 00:24:10,320 Speaker 1: there's a whole chunk of the playground like the kids 534 00:24:10,320 --> 00:24:12,040 Speaker 1: never go on because it's kind of closer to the road. 535 00:24:12,320 --> 00:24:14,840 Speaker 1: When you have sort of these very clear, definite boundaries, 536 00:24:15,080 --> 00:24:17,399 Speaker 1: there's a clear understanding of what you can and can't do, 537 00:24:17,520 --> 00:24:20,639 Speaker 1: and and yeah, when you say unlimited, well, unlimited is 538 00:24:20,720 --> 00:24:22,840 Speaker 1: super vague and there can be a lot of judgment 539 00:24:22,840 --> 00:24:24,600 Speaker 1: calls that have to enter the equation, right, And so 540 00:24:24,640 --> 00:24:27,000 Speaker 1: it's not just the fact that something is unlimited, it's like, well, 541 00:24:27,040 --> 00:24:29,840 Speaker 1: in reality, that means something very different than than what 542 00:24:29,880 --> 00:24:32,760 Speaker 1: it sounds like. Yeah, man, I hope those unlimited pto 543 00:24:32,840 --> 00:24:36,440 Speaker 1: play and start going away because they're rough and uh yeah, 544 00:24:36,560 --> 00:24:38,679 Speaker 1: I mean they don't have to be rough, but it 545 00:24:38,720 --> 00:24:41,920 Speaker 1: seems that in practice they're more difficult to implement, uh 546 00:24:41,920 --> 00:24:44,560 Speaker 1: than you might think. I think more often they go underutilized. 547 00:24:44,800 --> 00:24:46,280 Speaker 1: I would love to hear from a listener who has 548 00:24:46,280 --> 00:24:47,840 Speaker 1: one of those and they're like, I take fifteen weeks 549 00:24:47,840 --> 00:24:50,560 Speaker 1: a year. It's great. If that's the case, please let 550 00:24:50,640 --> 00:24:52,520 Speaker 1: us know. I would love to hear that, all right. 551 00:24:52,520 --> 00:24:55,320 Speaker 1: The next soft benefit that a lot of people are 552 00:24:55,320 --> 00:24:59,320 Speaker 1: receiving at their workplace now is free counseling and wellness initiatives. 553 00:24:59,359 --> 00:25:02,360 Speaker 1: Some employers matt or even offering their own gyms before 554 00:25:02,400 --> 00:25:03,880 Speaker 1: you work out in right, Hey, we've got a kettle 555 00:25:03,880 --> 00:25:07,439 Speaker 1: bell down here, dog swing And I'll count that as 556 00:25:07,440 --> 00:25:10,359 Speaker 1: a benefit, I guess. And like, one of my friends 557 00:25:10,400 --> 00:25:13,520 Speaker 1: actually recently posted that her employer just constructed an office 558 00:25:13,560 --> 00:25:16,719 Speaker 1: gym for employees. I guess they had been given a 559 00:25:16,760 --> 00:25:18,480 Speaker 1: free membership to a gym, and a lot of the 560 00:25:18,480 --> 00:25:22,239 Speaker 1: employees felt uncomfortable going, so they built one in house. Um, 561 00:25:22,280 --> 00:25:24,959 Speaker 1: and that's that's kind of cool. I'm thinking about maybe 562 00:25:25,000 --> 00:25:27,679 Speaker 1: buying a pullet bar down here. What do you think 563 00:25:27,720 --> 00:25:29,680 Speaker 1: about that pullet bar and the kettle bell? What else 564 00:25:29,720 --> 00:25:34,760 Speaker 1: could I want? You know? Nothing? And so like, it's 565 00:25:34,840 --> 00:25:37,240 Speaker 1: it's cool to see that employers are doing this. We 566 00:25:37,280 --> 00:25:39,760 Speaker 1: actually had a gym that I could have gone to 567 00:25:40,080 --> 00:25:42,119 Speaker 1: up at corporate, which is not where my office was, 568 00:25:42,359 --> 00:25:44,840 Speaker 1: so it was a massive drive. And there's I went 569 00:25:44,880 --> 00:25:46,480 Speaker 1: in there and I saw it one day. But there's 570 00:25:46,520 --> 00:25:48,320 Speaker 1: just I mean, I'm not fighting forty five minutes both 571 00:25:48,359 --> 00:25:50,560 Speaker 1: ways in Atlanta traffic to go work out right, and 572 00:25:50,560 --> 00:25:52,840 Speaker 1: also to check to see whether or not your workplace 573 00:25:52,920 --> 00:25:56,280 Speaker 1: offers some sort of free counseling or subsidized counseling. A 574 00:25:56,359 --> 00:26:00,240 Speaker 1: lot of employers are prioritizing mental wellness for their employe ease. 575 00:26:00,400 --> 00:26:03,040 Speaker 1: And I'll tell you what, Like, counseling is a great thing. 576 00:26:03,200 --> 00:26:05,040 Speaker 1: Therapy can be a great thing for a lot of folks, 577 00:26:05,119 --> 00:26:07,920 Speaker 1: but it's not cheap. Anybody who has booked their own appointment, 578 00:26:08,200 --> 00:26:10,640 Speaker 1: UM and put that on a credit card. Knows that 579 00:26:10,760 --> 00:26:12,440 Speaker 1: it costs quite a bit of money in order to 580 00:26:12,440 --> 00:26:15,080 Speaker 1: to get that mental help. And employers are starting to 581 00:26:15,080 --> 00:26:18,240 Speaker 1: recognize this, and it's definitely worth checking in to see 582 00:26:18,280 --> 00:26:22,440 Speaker 1: if your employer is offering anything for you on that front. Absolutely, Man, 583 00:26:22,680 --> 00:26:25,959 Speaker 1: another benefit, let's talk about discounts. Uh. There are discounts 584 00:26:26,000 --> 00:26:28,360 Speaker 1: that you can get a different service providers, like, for instance, 585 00:26:28,359 --> 00:26:31,960 Speaker 1: with a cell phone provider or maybe some different electronic retailers. 586 00:26:32,320 --> 00:26:34,200 Speaker 1: You might be able to get tim person off an 587 00:26:34,200 --> 00:26:36,920 Speaker 1: Apple or Dell product, or or even off of your 588 00:26:36,960 --> 00:26:38,800 Speaker 1: cell phone bill with one of the major carriers. So 589 00:26:38,880 --> 00:26:40,920 Speaker 1: we've talked before, how back in the day, we had 590 00:26:40,960 --> 00:26:43,600 Speaker 1: this giant tin person family plan going on. Uh, And 591 00:26:43,640 --> 00:26:45,560 Speaker 1: we did it through your work, and we were able 592 00:26:45,640 --> 00:26:48,240 Speaker 1: to get a nice discount, which is part of how 593 00:26:48,240 --> 00:26:50,120 Speaker 1: we got it down so cheap. Yeah, that was still 594 00:26:50,200 --> 00:26:52,719 Speaker 1: the cheapest cell phone plan I've ever had in my life. Yes, 595 00:26:52,960 --> 00:26:55,120 Speaker 1: although we're pretty close to there right now, like going 596 00:26:55,160 --> 00:26:58,880 Speaker 1: solo with Mint, but yeah, it was. It was ridiculously cheap. Uh. 597 00:26:58,920 --> 00:27:02,320 Speaker 1: And And yeah, my form employer, Matt, offered discount memberships 598 00:27:02,320 --> 00:27:04,600 Speaker 1: to the zoo, to the aquarium where we live, it's 599 00:27:04,600 --> 00:27:07,200 Speaker 1: worth taking thirty minutes or so to dig into those offerings, 600 00:27:07,680 --> 00:27:10,439 Speaker 1: especially if you're planning to make a major purchase. I 601 00:27:10,440 --> 00:27:12,640 Speaker 1: know a lot of those offerings are are reserved for 602 00:27:12,960 --> 00:27:15,600 Speaker 1: people that work for a bigger employer, but but man, 603 00:27:15,680 --> 00:27:18,800 Speaker 1: some sometimes those benefits get really extensive, and so it's 604 00:27:18,840 --> 00:27:21,440 Speaker 1: worth digging in on the back end of that employer 605 00:27:21,480 --> 00:27:24,480 Speaker 1: benefits website to see what's there. Yeah, and some employers 606 00:27:24,520 --> 00:27:28,880 Speaker 1: too are offering advanced education opportunities. I'm thinking about Starbucks. 607 00:27:28,960 --> 00:27:30,959 Speaker 1: They are one of the employers that has done an 608 00:27:30,960 --> 00:27:34,080 Speaker 1: incredible job on this front. Uh. They offer higher education 609 00:27:34,160 --> 00:27:38,240 Speaker 1: opportunities to employees who work more than twenty hours a week. Uh. 610 00:27:38,280 --> 00:27:42,320 Speaker 1: They get tuition reimbursement for classes that they take at 611 00:27:42,680 --> 00:27:45,199 Speaker 1: Arizona State University. And so this is worth noting. Your 612 00:27:45,200 --> 00:27:49,520 Speaker 1: employer might offer continuing education classes. Uh. And or they 613 00:27:49,560 --> 00:27:51,280 Speaker 1: might be willing to pay for you to go back 614 00:27:51,320 --> 00:27:54,160 Speaker 1: to school. UH. Definitely something to keep in mind. Obviously, 615 00:27:54,200 --> 00:27:56,679 Speaker 1: some employers as well are even willing to kind of 616 00:27:56,680 --> 00:27:58,879 Speaker 1: go in with you on an MBA program. With a 617 00:27:59,000 --> 00:28:02,000 Speaker 1: rising costs of higher education, this is definitely a benefit 618 00:28:02,040 --> 00:28:04,120 Speaker 1: that you do not want to discount. Yeah, and additional 619 00:28:04,160 --> 00:28:06,359 Speaker 1: benefits like that can be can be so meaningful, right, 620 00:28:06,400 --> 00:28:09,600 Speaker 1: It can turn a job where you're getting paid let's 621 00:28:09,640 --> 00:28:13,040 Speaker 1: say at a Starbucks fifteen sixteen seventeen an hour, into 622 00:28:13,080 --> 00:28:15,280 Speaker 1: with those additional benefits, it can feel like you're getting 623 00:28:15,280 --> 00:28:17,879 Speaker 1: paid twice that much, right easily. Yeah, it's like this 624 00:28:17,920 --> 00:28:20,880 Speaker 1: feels like a thirty dollar an hour job. Now, yeah, 625 00:28:20,960 --> 00:28:23,720 Speaker 1: totally with with a with a free education and also 626 00:28:23,800 --> 00:28:27,600 Speaker 1: to the retirement plan that they have at Starbucks is clutch. Um. 627 00:28:27,640 --> 00:28:30,000 Speaker 1: If I was looking for something part time, like twenty 628 00:28:30,080 --> 00:28:32,480 Speaker 1: hours a week, man, Starbucks would be a go to 629 00:28:32,640 --> 00:28:35,480 Speaker 1: thought because of the additional benefits. It's it's not just 630 00:28:35,800 --> 00:28:37,159 Speaker 1: the pay that they give you for every hour that 631 00:28:37,200 --> 00:28:39,800 Speaker 1: you work, plus the free panel of coffee every week. Right, 632 00:28:40,080 --> 00:28:42,640 Speaker 1: that's another go one I think you do. Yeah, that's 633 00:28:42,680 --> 00:28:45,120 Speaker 1: that's pretty sweet and intangible. It's better than the kettle 634 00:28:45,120 --> 00:28:48,040 Speaker 1: bar we've got down here, but kettle kettle bell sir, 635 00:28:48,160 --> 00:28:50,880 Speaker 1: That's what I meant to say. That's how much I 636 00:28:50,960 --> 00:28:53,320 Speaker 1: use it. If only you swung it around, so I 637 00:28:53,360 --> 00:28:55,680 Speaker 1: think you would know what it's called. You're right, it's 638 00:28:55,680 --> 00:28:58,200 Speaker 1: I think it's important to note though, that like uh 639 00:28:58,440 --> 00:29:02,440 Speaker 1: benefits that your employer offers are really there to help 640 00:29:02,480 --> 00:29:04,800 Speaker 1: retain talent, like they want to keep you on board 641 00:29:05,000 --> 00:29:07,240 Speaker 1: by offering some of these benefits. It's a way that 642 00:29:07,280 --> 00:29:10,280 Speaker 1: they can kind of make their workforce happy. And so 643 00:29:10,400 --> 00:29:12,720 Speaker 1: if there's a benefit that we've mentioned that you would 644 00:29:12,760 --> 00:29:15,760 Speaker 1: love to have that your employer doesn't currently offer, I 645 00:29:15,760 --> 00:29:17,800 Speaker 1: think it's okay to bring that up. It's okay to 646 00:29:17,840 --> 00:29:21,120 Speaker 1: ask for that. Um, you're not being greedy. You're saying, hey, 647 00:29:21,160 --> 00:29:24,040 Speaker 1: this is I've seen other employers in the industry offering 648 00:29:24,240 --> 00:29:27,160 Speaker 1: something like this. Would we ever consider offering something like 649 00:29:27,200 --> 00:29:29,560 Speaker 1: this too? And then ask HR two if they know 650 00:29:29,600 --> 00:29:31,640 Speaker 1: about that tax break that allows employers to help their 651 00:29:31,640 --> 00:29:34,200 Speaker 1: employees pay off student loans, because hey, that could be 652 00:29:34,480 --> 00:29:36,560 Speaker 1: make a big difference in the lives of our workforce. 653 00:29:36,760 --> 00:29:38,760 Speaker 1: But it's easy to see as we run through this list, Matt, 654 00:29:38,960 --> 00:29:42,560 Speaker 1: how these benefits really add up and how they can 655 00:29:42,600 --> 00:29:45,560 Speaker 1: make or break your work experience. They can cause you 656 00:29:45,600 --> 00:29:49,000 Speaker 1: to want to leave your job with crummy benefits to 657 00:29:49,080 --> 00:29:52,120 Speaker 1: find one that has great benefits, or they can cause 658 00:29:52,160 --> 00:29:54,040 Speaker 1: you maybe to even be more thankful for the job 659 00:29:54,080 --> 00:29:56,160 Speaker 1: that you currently have, because it's not just about the paycheck. 660 00:29:56,160 --> 00:29:58,840 Speaker 1: It's about all these other things that come alongside of 661 00:29:58,960 --> 00:30:01,760 Speaker 1: getting to to work that place. Yeah, and especially these 662 00:30:01,840 --> 00:30:03,520 Speaker 1: days too, I think a lot of employers might be 663 00:30:03,600 --> 00:30:06,840 Speaker 1: unwilling to raise pay right, there might be pay freezes 664 00:30:06,920 --> 00:30:09,640 Speaker 1: in place, But by offering these benefits, it's a way 665 00:30:09,680 --> 00:30:12,160 Speaker 1: for them to, you know, make some concessions because they 666 00:30:12,200 --> 00:30:15,080 Speaker 1: know that not everybody will necessarily take advantage of these benefits. 667 00:30:15,200 --> 00:30:17,400 Speaker 1: But because you're listening to this episode today, you're you're 668 00:30:17,400 --> 00:30:19,680 Speaker 1: gonna know to keep an eye out. But again, like Joel, 669 00:30:19,720 --> 00:30:22,400 Speaker 1: coming back to what you're saying, advocating for these benefits 670 00:30:22,400 --> 00:30:24,480 Speaker 1: you know from your employer is what we're encouraging here. 671 00:30:24,680 --> 00:30:27,040 Speaker 1: They're not set in stone, they're not static, and if 672 00:30:27,080 --> 00:30:30,200 Speaker 1: you approach that conversation well with your employer, you could 673 00:30:30,200 --> 00:30:32,520 Speaker 1: have an impact on helping your employer to modernize their 674 00:30:32,560 --> 00:30:35,080 Speaker 1: their benefit offerings and making them more tailored to the 675 00:30:35,080 --> 00:30:38,120 Speaker 1: workforce that they're they're hoping to attract. And for many 676 00:30:38,120 --> 00:30:41,000 Speaker 1: of our listeners who employ other people, do take note 677 00:30:41,040 --> 00:30:44,120 Speaker 1: of the benefits that your employees get most excited about 678 00:30:44,120 --> 00:30:47,120 Speaker 1: the ones that you hear them talking about. Right, many 679 00:30:47,240 --> 00:30:50,720 Speaker 1: of the most valued benefits don't actually hurt your bottom 680 00:30:50,760 --> 00:30:53,640 Speaker 1: line all that much, and in fact, offering more enticing 681 00:30:53,640 --> 00:30:56,520 Speaker 1: benefits in the future could help you to keep top 682 00:30:56,520 --> 00:30:59,320 Speaker 1: employees and to save you money you might lose through 683 00:30:59,320 --> 00:31:01,920 Speaker 1: through higher level as of turnover. So in particular, offering 684 00:31:01,920 --> 00:31:04,680 Speaker 1: a retirement account is so cheap, so much easier than 685 00:31:04,680 --> 00:31:07,160 Speaker 1: it used to be. We would recommend for employers to 686 00:31:07,200 --> 00:31:10,080 Speaker 1: go check out guideline dot com. They've got uh some 687 00:31:10,120 --> 00:31:12,840 Speaker 1: amazing resources over there if you're looking to expand what 688 00:31:12,880 --> 00:31:15,240 Speaker 1: it is that you're offering to your employees. Yeah, and 689 00:31:15,520 --> 00:31:17,360 Speaker 1: going back to kind of that perk, I was able 690 00:31:17,400 --> 00:31:20,320 Speaker 1: to receive Matt the free international trip every year. It 691 00:31:20,400 --> 00:31:23,040 Speaker 1: was always a really cheap ticket, Like we would go 692 00:31:23,160 --> 00:31:27,240 Speaker 1: internationally for four bucks sometimes and um, and obviously that's 693 00:31:27,240 --> 00:31:29,680 Speaker 1: not free, that costs money. But people that got a 694 00:31:29,760 --> 00:31:33,560 Speaker 1: job where we worked never left. And so yeah, employee 695 00:31:33,560 --> 00:31:36,560 Speaker 1: turnover training another person to take over this job is 696 00:31:36,800 --> 00:31:39,480 Speaker 1: is so expensive that when you think about it, that perk, 697 00:31:39,640 --> 00:31:41,840 Speaker 1: that benefit is a drop in the bucket um when 698 00:31:41,880 --> 00:31:44,600 Speaker 1: it comes to the cost of doing business of keeping 699 00:31:44,960 --> 00:31:47,920 Speaker 1: great talent around. So I think that's how employers should 700 00:31:47,920 --> 00:31:50,800 Speaker 1: think about it. Especially recently, we talked about the efficiency 701 00:31:50,800 --> 00:31:54,080 Speaker 1: wage theory oftentimes adding a little bit more to what 702 00:31:54,160 --> 00:31:57,000 Speaker 1: you're offering your employees is actually gonna benefit your bottom 703 00:31:57,000 --> 00:31:59,120 Speaker 1: line in the long run too. Yeah, It's it's funny 704 00:31:59,120 --> 00:32:01,120 Speaker 1: to think about, like, have somebody that might have a 705 00:32:01,120 --> 00:32:04,560 Speaker 1: salary between like I don't like fifty sixty seventy dollars 706 00:32:04,640 --> 00:32:06,160 Speaker 1: and like we're yeah, we're talking about maybe a FI 707 00:32:06,760 --> 00:32:11,320 Speaker 1: ticket here, Like that is a relatively small increase and 708 00:32:11,600 --> 00:32:14,120 Speaker 1: what quote unquote their pay is right and what the 709 00:32:14,360 --> 00:32:16,880 Speaker 1: benefit they're receiving. But it feels like so much more 710 00:32:16,960 --> 00:32:19,880 Speaker 1: like it's sexy, it's kind of it has this glow 711 00:32:19,920 --> 00:32:22,880 Speaker 1: around it, and it's things like that that make an 712 00:32:22,880 --> 00:32:25,560 Speaker 1: employers stand out and makes you want to continue to 713 00:32:25,600 --> 00:32:29,120 Speaker 1: work for them, yea, and work harder for them. All right, Matt, 714 00:32:29,160 --> 00:32:30,360 Speaker 1: Let's get back to the beer that we had on 715 00:32:30,400 --> 00:32:32,960 Speaker 1: the show today. This one was called Cocoa Bunny. It's 716 00:32:33,080 --> 00:32:36,520 Speaker 1: a milk border from Creature Comforts, uh, and it's brewed 717 00:32:36,520 --> 00:32:38,800 Speaker 1: with coconut cocoa nibs and coffee. What are your thoughts 718 00:32:38,840 --> 00:32:41,040 Speaker 1: on this beer? Man? Honestly, I think I have forgotten 719 00:32:41,080 --> 00:32:43,400 Speaker 1: how good this beer is. This is such a good beer. 720 00:32:43,680 --> 00:32:45,280 Speaker 1: You pick these up, put them in our our little 721 00:32:45,320 --> 00:32:47,880 Speaker 1: beer fridge down here in the office, and I saw 722 00:32:48,000 --> 00:32:50,280 Speaker 1: I was like, oh, that's cute cocoa bunny. It's been 723 00:32:50,280 --> 00:32:51,800 Speaker 1: a while since we've had it. And by the way, 724 00:32:51,800 --> 00:32:54,880 Speaker 1: it's spelled ko ko bu, and I I'm not sure 725 00:32:54,880 --> 00:32:57,320 Speaker 1: what that. I don't know what that spelling means. Bunny. 726 00:32:57,400 --> 00:33:00,680 Speaker 1: But it's not like a little chocolate bunny or something 727 00:33:00,720 --> 00:33:02,360 Speaker 1: like that, but it may as well be, because that's 728 00:33:02,400 --> 00:33:04,920 Speaker 1: what it tastes like, right, It's got like these nice roasty, 729 00:33:05,000 --> 00:33:07,440 Speaker 1: toasted flavors. Going on the fact that it's a milk porter, 730 00:33:07,640 --> 00:33:09,720 Speaker 1: it just it makes it so smooth in your mouth, 731 00:33:10,240 --> 00:33:12,240 Speaker 1: like there's it means there's a good amount of lactose, 732 00:33:12,480 --> 00:33:15,720 Speaker 1: uh milk sugars within this beer. But that in combination 733 00:33:15,800 --> 00:33:18,680 Speaker 1: with that that coconut, that cocon nuts, the coffee, what's 734 00:33:18,720 --> 00:33:22,160 Speaker 1: the girl's got cookie with a with a coconut samoa? 735 00:33:22,280 --> 00:33:23,640 Speaker 1: Is that a samoa? I think? But it kind of 736 00:33:23,680 --> 00:33:26,560 Speaker 1: reminds me of that. But but even smoother like like 737 00:33:26,680 --> 00:33:28,600 Speaker 1: that has almost like this kind of sharpness to it, 738 00:33:28,760 --> 00:33:30,920 Speaker 1: which I enjoy, Like there's a lot of punch, but 739 00:33:31,000 --> 00:33:33,720 Speaker 1: this is just like nice and like blist out. It's 740 00:33:33,720 --> 00:33:36,080 Speaker 1: like a blissed out version of a samoa as a beer. 741 00:33:36,200 --> 00:33:38,640 Speaker 1: I'm not a huge fan of coconut usually when I'm 742 00:33:38,640 --> 00:33:40,640 Speaker 1: eating it, Dude, I love, but toasted coconut and a 743 00:33:40,640 --> 00:33:42,480 Speaker 1: beer Like I love the taste of it, I don't 744 00:33:42,520 --> 00:33:44,880 Speaker 1: love the texture of coconut usually okay, um, and so 745 00:33:44,920 --> 00:33:47,840 Speaker 1: it's too stringy. Yeah, that's why I like, I choose 746 00:33:47,920 --> 00:33:50,680 Speaker 1: not to eat cookies or like a cake with coconuts 747 00:33:50,800 --> 00:33:52,720 Speaker 1: or branola. I mean, I will if I'm forced it, 748 00:33:52,760 --> 00:33:54,200 Speaker 1: but I'm not going to be into it. If I 749 00:33:54,240 --> 00:33:56,720 Speaker 1: force you to eat this cake got coconut on it, 750 00:33:56,760 --> 00:33:58,400 Speaker 1: if like, if it's to save my life, I'll do 751 00:33:58,440 --> 00:34:01,200 Speaker 1: it right. But um, but I love actually the flavor 752 00:34:01,240 --> 00:34:03,000 Speaker 1: of it, And toasted coconut in a beer is I 753 00:34:03,000 --> 00:34:05,520 Speaker 1: think one of those great elements that works so well, 754 00:34:05,640 --> 00:34:08,719 Speaker 1: especially in like a stout or reporter, And this one 755 00:34:08,840 --> 00:34:11,920 Speaker 1: is pulled off impeccably well. Like you said, super smooth. 756 00:34:12,000 --> 00:34:14,399 Speaker 1: All those ingredients make it kind of like a Desserty beer, 757 00:34:14,440 --> 00:34:17,879 Speaker 1: but that's not overly sweet. Coca Bunny is a seasonal beer, 758 00:34:18,120 --> 00:34:20,080 Speaker 1: but it's well worth picking up when it's on the 759 00:34:20,120 --> 00:34:22,600 Speaker 1: shelves here in Georgia and soon there's a good amount 760 00:34:22,600 --> 00:34:25,040 Speaker 1: of it. Yeah, there's a good amount. Like it is seasonal, 761 00:34:25,040 --> 00:34:26,680 Speaker 1: like you mentioned, it's not year round. But when they 762 00:34:26,680 --> 00:34:28,000 Speaker 1: do have it, I mean you can find it anywhere. 763 00:34:28,040 --> 00:34:29,600 Speaker 1: You can find it on the grocery on the grocery 764 00:34:29,600 --> 00:34:32,120 Speaker 1: store shells for sure. That's where we live, right, Yeah, yeah, exactly. Well, 765 00:34:32,120 --> 00:34:34,160 Speaker 1: I will say too soon to be California because they're 766 00:34:34,239 --> 00:34:37,160 Speaker 1: launching a brew hub in l A later this year 767 00:34:37,280 --> 00:34:39,759 Speaker 1: next year, so getting closer to that launch, California friends 768 00:34:39,760 --> 00:34:41,879 Speaker 1: will be able to pick up some Creature Comfort stuff then, 769 00:34:41,920 --> 00:34:44,080 Speaker 1: and yeah, you're gonna know what you've been missing all 770 00:34:44,080 --> 00:34:46,680 Speaker 1: these years. And when you finally can, it's uh such 771 00:34:46,719 --> 00:34:50,720 Speaker 1: a good brewery. Yeah. Ever since Avengers Endgame where Thorne 772 00:34:50,760 --> 00:34:53,920 Speaker 1: was drinking the Creature Comforts Bears within the movie, they 773 00:34:53,960 --> 00:34:55,799 Speaker 1: made a little connection there with those producers out West 774 00:34:55,800 --> 00:34:57,279 Speaker 1: and they're like, we really love your beer. We're gonna 775 00:34:57,320 --> 00:34:58,960 Speaker 1: help you get set up here out West. I think 776 00:34:59,000 --> 00:35:00,879 Speaker 1: that's how it went down Atty. Sure it is well, 777 00:35:01,239 --> 00:35:04,080 Speaker 1: good for them, man. We're hoping for a Creature Comfort 778 00:35:04,080 --> 00:35:06,279 Speaker 1: spru pub in Atlanta one of these days too, so 779 00:35:06,360 --> 00:35:07,960 Speaker 1: that would be nice, all right, that's gonna do it 780 00:35:08,000 --> 00:35:11,120 Speaker 1: for this episode. We'll put our show notes up on 781 00:35:11,280 --> 00:35:13,799 Speaker 1: the website at how to money dot com. That's right, 782 00:35:13,880 --> 00:35:15,600 Speaker 1: and Jel, you know, week after week we sit here, 783 00:35:15,640 --> 00:35:18,560 Speaker 1: we try to provide some valuable content to our listeners 784 00:35:18,560 --> 00:35:20,239 Speaker 1: out there. But if you're sitting here and you're listening 785 00:35:20,280 --> 00:35:22,799 Speaker 1: to this episode and you have some feedback for us, 786 00:35:22,840 --> 00:35:24,279 Speaker 1: if you think that there is a way for us 787 00:35:24,320 --> 00:35:26,640 Speaker 1: to improve, we would encourage you to go to the website, 788 00:35:26,640 --> 00:35:28,640 Speaker 1: go to how the Money dot com, forward slash do Better, 789 00:35:29,000 --> 00:35:31,640 Speaker 1: and from there you can leave us a message. We're 790 00:35:31,640 --> 00:35:35,319 Speaker 1: always looking for ways to actually do better, Yes we are, 791 00:35:35,400 --> 00:35:36,839 Speaker 1: and we want to hear from you if you've got 792 00:35:36,880 --> 00:35:39,319 Speaker 1: something to say there as well. So we want to improve, man, 793 00:35:39,440 --> 00:35:41,160 Speaker 1: we don't want we don't want to be static, you know, 794 00:35:41,280 --> 00:35:43,040 Speaker 1: like just like benefits aren't static. Matt and Joel are 795 00:35:43,080 --> 00:35:45,200 Speaker 1: not static, and we want to do better. So that 796 00:35:45,320 --> 00:35:47,040 Speaker 1: is true. But yeah, well that's gonna be it for 797 00:35:47,080 --> 00:35:49,799 Speaker 1: this episode, dude. Until next time, Best Friends Out, Best 798 00:35:49,920 --> 00:36:02,000 Speaker 1: Friends Out, bo