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Speaker 1: Welcome to Out of Money. I'm Joel.

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Speaker 2: I'm att Today we're talking warflation, attractive arms and drone

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Speaker 2: home assessments, attractive.

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Speaker 3: Arms, even lifting a little bit, Joel, not me. I'm

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Speaker 3: assuming you did go for a run this morning.

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Speaker 1: Does the day end and why like you do?

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Speaker 3: I thought maybe you'd start tapering down before the race tomorrow.

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Speaker 3: You're running a race on Yeah, I thought little five

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Speaker 3: k on Saturday. So you know, it's just a little

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Speaker 3: neighborhood things. So what do you mean it's neighborhood thing

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Speaker 3: the race? That's sound like some big round.

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Speaker 1: Yeah. Yeah. It fel like we're running in the Olympics

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Speaker 1: or anything. Man, it's so much run today. Eight miles.

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Speaker 1: Oh my gosh.

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Speaker 3: You're supposed to like but I guess when you are

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Speaker 3: used to running like eleven twelve for you is like

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Speaker 3: a typical day.

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Speaker 1: Dial it back to eight. That's you taking it easy.

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Speaker 3: No, we're not gonna talk about the running. This is

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Speaker 3: our Friday flight. We got the headlines to get to

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Speaker 3: and uh real quick, let's thank all the listeners who

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Speaker 3: reached out to us and shared some of their side hustles.

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Speaker 1: Was that Monday's episode that last Friday last Friday. That's right.

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Speaker 1: We talked about side hustles and.

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Speaker 2: We got some good emails. Yeah, it's fun to hear

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Speaker 2: what people are doing to make money on the side.

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Speaker 1: You have a favorite the thanks who reached out.

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Speaker 2: Well one, the one that fascinated me the most probably

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Speaker 2: was listener Matthew, who is starting on winery on the

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Speaker 2: side the farm that he bought. He's like, yeah, weekends

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Speaker 2: spent like getting the soil ready, Like you know, it's

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Speaker 2: gonna be a ton of work.

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Speaker 1: What do you see twenty three acres? I don't remember

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Speaker 1: the details.

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Speaker 3: I was just picturing somebody like Russell Crowe a good

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Speaker 3: year and he's purchasing this old estate and it's just like,

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Speaker 3: I don't know, candle Land support the grapes. Will I

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Speaker 3: be able to get something good out of the ground.

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Speaker 3: I think it's gonna be a it's gotta be a

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Speaker 3: massive labor of love. Yeah, to do something like that. Oh,

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Speaker 3: he did say that. That was the one where you

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Speaker 3: said that there was some property on the There are

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Speaker 3: some buildings or houses on the property that he actually

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Speaker 3: rents out on AIRBA.

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Speaker 1: That's right.

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Speaker 3: So you've got like a dual pronged approach there, you're

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Speaker 3: not completely counting on the you.

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Speaker 2: Know, the grapes, the multifaceted side hustle. I like that

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Speaker 2: two birds of one stone. And then I guess it

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Speaker 2: makes sense that how the money listeners would have alcohol

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Speaker 2: related pursuits based on the fact that we drink beer

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Speaker 2: on the show. But listener Sheila wrote to us about

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Speaker 2: a cocktail side hustle that she has, Matt and maybe

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Speaker 2: we'll link to this in the show notes, but just

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Speaker 2: like kind of all the ingredients to make a batch cocktail,

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Speaker 2: and it came in the mation jars. Yeah, just pour

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Speaker 2: the bourbon on top, or just pour the rum on

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Speaker 2: top or whatever it is. So I'm a rum cocktail

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Speaker 2: guy right now, So I mean, might need to get one.

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Speaker 3: I think it's been a minute since you've said it's

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Speaker 3: the year of rum. It's the year rum baby going

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Speaker 3: ahead and said it for we're living in it. You

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Speaker 3: know what was really cool, Actually, something I noticed among

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Speaker 3: multiple folks who responded was the fact that they had

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Speaker 3: solid full time jobs, right They had very dependable, well

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Speaker 3: paying main gigs, and for them they realized, oh, this

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Speaker 3: is an outlet for my creativity. This is something I'm

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Speaker 3: interested in not necessarily trying to pursue it full time.

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Speaker 3: But if it happens to take off, okay, so be it. Maybe,

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Speaker 3: but the ability to maintain that steady nine to five

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Speaker 3: or slightly even less than nine to five throughout the week,

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Speaker 3: and then whether you're moonlighting or spending more time in

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Speaker 3: the afternoons and evenings. On a similar note, listeners who

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Speaker 3: are older as well and who have found that they

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Speaker 3: had more time on their hands, I found that, really,

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Speaker 3: I know, they kind of affirmed some beliefs that I've had,

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Speaker 3: and folks who I've talked with where I'm realizing at

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Speaker 3: this stage of life that I'm in currently with specifically

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Speaker 3: given the age of the kids, they're not able to drive,

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Speaker 3: and so we're at like maximum capacity of me being

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Speaker 3: needed as a parent as bad years, which means driving

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Speaker 3: them here talking to them about this, Like they're still

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Speaker 3: smart enough to know that we know more than they do.

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Speaker 3: Not for long, yeah, it won't be for long. And

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Speaker 3: so like they're asking us a lot of questions, wanting

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Speaker 3: to help, but they're like there's just all of these things,

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Speaker 3: in all these different capacities and ways that that is

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Speaker 3: being asked of us. And I'm like, yeah, it's there's

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Speaker 3: a whole lot of time that goes into being a parent,

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Speaker 3: but at a certain point that's going to taper off. Yeah,

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Speaker 3: it's gonna be sad when it's when it does. But

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Speaker 3: i'd see time opening up down like ten years from now, uh,

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Speaker 3: to pursue a different side hustle, or to start another business,

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Speaker 3: or to you know, if we're still doing this, ramp

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Speaker 3: this up in a different way. I don't know, but uh,

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Speaker 3: when I find that encouraging.

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Speaker 2: When you're in those years with young kids and it

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Speaker 2: just requires everything from you, is what it feels like.

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Speaker 1: Yes, it's it's hard to.

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Speaker 2: Think physically, emotionally, mentally. Yeah, it's hard to think that

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Speaker 2: that won't always be the case. But that won't always

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Speaker 2: be the case.

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Speaker 1: It won't. One of these days it will change.

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Speaker 2: We will have more free time and whatever our our

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Speaker 2: little hearts desire, Matt. In terms of side hustles, we'll

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Speaker 2: be able to we'll be able to launch. So yeah,

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Speaker 2: we'll see. It's kind of kind of cool. Uh, just

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Speaker 2: big thanks to everybody for sharing, thank you.

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Speaker 1: Yeah.

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Speaker 3: Yeah, yeah, and we you know what, let's I'll totally

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Speaker 3: put you mentioned she was it Chila yeah, yeah, I

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Speaker 3: will link to her side. Okay, folks can check her

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Speaker 3: out because my folks reach out to us. Not only

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Speaker 3: do we personally enjoy that, but we want that to

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Speaker 3: be sure a positive thing for you as well. So

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Speaker 3: thanks to everyone who listens to the show.

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Speaker 1: You want to you want to talk about war for

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Speaker 1: a second, mat yeah, Iran specifically.

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Speaker 2: Yeah, we'll try to stay a political as always as

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Speaker 2: much as possible as we can.

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Speaker 1: In this situation. Just focus on the money. Yeah, don't

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Speaker 1: show me the money, Joel.

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Speaker 2: Do you have like a favorite anti war song?

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Speaker 1: Anti war?

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Speaker 3: I just there's many good ones like in I immediately

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Speaker 3: think of Rush Hour with Jackie Chan already, was it

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Speaker 3: Chris Tucker?

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Speaker 2: Oh yeah, yeah, okay, so fun, Okay, so the war

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Speaker 2: has of course of course, impactly, you didn't aswer, do

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Speaker 2: you do you have an anti war Oh you're thinking

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Speaker 2: of Billy Straight of course? Yeah, yeah, wargasm. It's a

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Speaker 2: great song. So but oil and gas prices going up, right,

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Speaker 2: and prices at the tank are up I'm guessing on average.

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Speaker 2: I haven't looked at the triple A stats the last

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Speaker 2: few days, but about a dollar a gallery, maybe a

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Speaker 2: little more, even more than last over the past month. Right,

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Speaker 2: And so while we're not experiencing like a nineteen eighties

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Speaker 2: reality of gas lines and rationing, of the impact is

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Speaker 2: already quite noticeable for most Americans. There was a short sighted,

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Speaker 2: i would say, article in the Wall Street Journal mat

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Speaker 2: that was focused solely on prices at the pump, which

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Speaker 2: is not just an it's a significant story in a

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Speaker 2: lot of ways. But higher gas prices can cause other

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Speaker 2: prices to rise, right, So it's not just about how

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Speaker 2: long prices at the pump stay elevated. It's about all

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Speaker 2: of the other things that these inputs that affect the

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Speaker 2: lifeblood of our economy.

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Speaker 1: Oil.

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Speaker 2: Right, it's used in the making and shipping of your

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Speaker 2: child's favorite toys. Think of legos, Right.

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Speaker 3: It's used to actually make those legos, right, and not

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Speaker 3: just deliver them to the shelf. The inputs to plastics, right,

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Speaker 3: and so yeah, to toy prices or prices on the

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Speaker 3: shelves that target are going to rise because of that

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Speaker 3: Walmart all thattuff.

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Speaker 1: Right.

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Speaker 2: So mortgage rates are rising again after dipping below six percent,

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Speaker 2: which is potentially throwing a wrench into the spring housing market.

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Speaker 2: I'm curious to see what sort of impact that has

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Speaker 2: matter people like, oh, you know, when I was able

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Speaker 2: to get that five something rate I was interested in by,

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Speaker 2: but now the rates are back up above six, I'm

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Speaker 2: just less inclined. Maybe I'll sit this one out for

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Speaker 2: a little while longer. The impacts of what's happening right now,

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Speaker 2: the known and unknown future realities of this conflict that are,

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Speaker 2: you know, the US initiative war with Iran, the way

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Speaker 2: it's going to impact consumers. It's not only is it polarizing,

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Speaker 2: but it's having in how.

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Speaker 1: Long lived will it be? I don't know, like how

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Speaker 1: long will the war last?

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Speaker 2: Right, we don't know, But like this, this really could

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Speaker 2: have significant economic impacts for everyday people and not just

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Speaker 2: just go beyond price at the pump and that alone.

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Speaker 3: Yeah, yeah, I won't hate on that article too much

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Speaker 3: because that is how we are feeling it most immediately

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Speaker 3: currently from a financial standpoint, right, because like that truly

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Speaker 3: that like it takes a minute for it to trickle

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Speaker 3: through the economy when it comes to input, is when

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Speaker 3: it comes to to shipping food, all that kind of stuff.

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Speaker 3: But the sort of like the emotional impact and the

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Speaker 3: sort of consumer sentiment that is also immediate right, Like,

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Speaker 3: so we feel it immediately at the pump because literally

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Speaker 3: that's just oil and gas, but sort of the consumer

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Speaker 3: sentiment that is also the immediate. But then everything else,

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Speaker 3: I mean, it takes weeks and months for to trickle

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Speaker 3: through the system. One area where it doesn't take time

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Speaker 3: to trickle through is when it comes to air travel,

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Speaker 3: because when you buy a ticket, what do you It's

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Speaker 3: funny to think about, like we think about buying a

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Speaker 3: plane ticket, but really what we're just paying.

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Speaker 1: For is like Jeff fuel.

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Speaker 2: Yeah, it's like, yeah, the seat for the two part

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Speaker 2: and the pilot, right, you got to pay their salaries,

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Speaker 2: but Jeff Fiel is one of the big costs.

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Speaker 3: Yeah, I mean that's like basically what you're paying for.

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Speaker 3: There's an analysis by Deutsche Bank and they report that

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Speaker 3: airfares have doubled on some flights in just the past

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Speaker 3: couple of weeks, and more price increases are likely coming.

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Speaker 3: According to travel industry insiders, prices fuel is up about

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Speaker 3: fifty percent, but it is not the whole story. Inflation,

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Speaker 3: which is being tamed for the most part and heading

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Speaker 3: closer to the fed's two percent goal, it's now going

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Speaker 3: the wrong direction.

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Speaker 2: Drum Pal is a little concerned about that, mentioned that

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Speaker 2: in his recent remarks, right, yeah, yeah, so there's.

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Speaker 3: A chance that, I mean, there's there's more indicators that

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Speaker 3: there may not be any cuts, depending on which direction

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Speaker 3: the war goes, how long it lasts, all that.

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Speaker 1: Is up in the air.

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Speaker 3: We'll see just essentially like the length of the war,

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Speaker 3: the breadth of the war, these are all going to

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Speaker 3: be inputs as to how long we're going to see

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Speaker 3: these increased prices. And obviously that's not wholly within the

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Speaker 3: control of our elected leaders. And so this is going

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Speaker 3: to determine whether this increase, you know, price pressure, is

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Speaker 3: going to be a short term reality where the extent

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Speaker 3: of which we'll see it is mostly when it comes

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Speaker 3: to fuel prices, or this is going to hopefully not

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Speaker 3: but potentially turn into a long term reality.

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Speaker 2: So bad news in terms of airlines is that when

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Speaker 2: you're looking at prices, you might find they're significantly higher

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Speaker 2: than what you were looking at for your summer travel

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Speaker 2: two three weeks ago. Man, I'm curious, though, did you

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Speaker 2: see United saying what they just said about maybe some

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Speaker 2: good news on the airfare front headphones? Yeah, they got

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Speaker 2: to wear hair headphones on flights and and if you don't,

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Speaker 2: you might be banned permanently one hundred percent. Okay with that,

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Speaker 2: me too. What about you use your headphones people? Yeah,

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Speaker 2: and the fact too that there are aren't they offering

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Speaker 2: for folks like they're going to offer like a cheap

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Speaker 2: pair of headphones. They're always just awful head They're awful.

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Speaker 2: But that should encourage you. Oh, I should have remembered

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Speaker 2: to bring my own. But even if you forget to

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Speaker 2: bring your own earbuds or you know, plug in headphones,

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Speaker 2: they're serviceable. Don't don't turn on the sound like it

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Speaker 2: sounds not Like even when I'm in my own home,

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Speaker 2: I hardly ever have the sound on.

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Speaker 1: Yeah, I don't know.

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Speaker 3: There's just something about that noise pollution that I that

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Speaker 3: I hate. But I'm totally for this, and I'm totally

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Speaker 3: for if it's polarizing because there can be certain airlines

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Speaker 3: and certain carriers I think, who choose to do this,

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Speaker 3: and there can be others who choose not to. Yeah,

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Speaker 3: and then people can sort of I'll select. Aren't there

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Speaker 3: certain commuter train lines like up in the Northeast that

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Speaker 3: have like quiet cars, Like there's quiet cars where people

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Speaker 3: are just sitting there reading the paper, reading their book.

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Speaker 3: It's quiet and peaceful, and then you got the family party,

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Speaker 3: cars or whatever, or just a bit more noisy. I'm

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Speaker 3: totally fine if airlines choose to go in that direction. Yeah,

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Speaker 3: I don't know's that's what I would have seen.

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Speaker 2: More of the world at least I like it way

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Speaker 2: to go United, Yeah, Matt, Okay, let's talk about the

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Speaker 2: kind of what's happening with stocks in the aftermath of

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Speaker 2: the war as well. Like some people are saying, oh man,

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Speaker 2: we're totally gonna have a market correction. Be ready for

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Speaker 2: falling stock prices.

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Speaker 1: We haven't.

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Speaker 2: We've seen slight decline right in the s and people.

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Speaker 2: We haven't seen anything any major reaction than massive. Yeah,

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Speaker 2: and you know, but that is something more people are

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Speaker 2: asking given the new geopolitical reality. What's happening right now?

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Speaker 2: The wide domino effect of high oil prices could have

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Speaker 2: cascading consequences. But it's always helpful, I think, to go

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Speaker 2: back and look at the data and to see, well,

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Speaker 2: what's happened in the past when you've had historical events

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Speaker 2: that have not been the exact same but that have rhymed,

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Speaker 2: and specifically when oil prices have gone up meaningfully, what

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Speaker 2: happens to the stock market? And in front of the

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Speaker 2: show Ben Carlson, who we're going to have on actually

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Speaker 2: again in a couple months, he found that the stock

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Speaker 2: market does better in years when oil prices rise. So

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Speaker 2: you might be thinking, oh, my goodness, this geopolitical conflict

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Speaker 2: is leading to a lot of concern about stocks, and man,

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Speaker 2: oil price is rising. I think this is going to

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Speaker 2: hammer the market. And you might be thinking, maybe I

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Speaker 2: should take a step back for a little bit, or

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Speaker 2: maybe I should change the way I'm invested. Well, Ben

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Speaker 2: Carlson would say, based on historical analysis, probably not. You

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Speaker 2: probably shouldn't change a thing. What happens to your portfolio

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Speaker 2: in the short term, that's a really good question. Who knows.

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Speaker 2: But I think I'm with financial writer Sam Romtt, who

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Speaker 2: describes himself as a long term optimist and a short

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Speaker 2: term cautious optimist, and I think that's the best way

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Speaker 2: to be.

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Speaker 3: I like that better than Ben's. Yeah, a small issue

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Speaker 3: with Ben. I feel like sometimes these guys can go

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Speaker 3: over the top when it comes to their analysis.

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Speaker 1: Because what did he say that you didn't like?

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Speaker 3: Like, I mean, towards the end of his piece, he

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Speaker 3: said that for the most part, like when you look

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Speaker 3: at LITE, it's after oil rises like more than five

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Speaker 3: percent for a couple of days. If you look at

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Speaker 3: the subsequent one, three, six, twelve month time periods, for

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Speaker 3: the most part, the market.

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Speaker 2: Goes up, which is exactly what the stock market only

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Speaker 2: does anyway. It's that you can completely remove oil as

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Speaker 2: a variable at all, and it's just like, yep, that's

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Speaker 2: what the stock market does. For the most part, it

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Speaker 2: goes up three out of four years.

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Speaker 1: You know, I don't know.

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Speaker 3: That's the part where even him writing about that sometimes

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Speaker 3: bothers me because of the noise that it injects into

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Speaker 3: the system. When you're talking about DIY investor investigates do though, man,

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Speaker 3: it's what they do. But when it comes to people

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Speaker 3: who people I think are more likely to overcomplicate things

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Speaker 3: than undercomplicate things, which tends to lead to underperformance in

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Speaker 3: the portfolio.

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Speaker 1: Is that's the part that I would rather of the

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Speaker 1: red holes guys.

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Speaker 3: Well, quite another guy, how about Nigga Julie Just keep buying, Yeah,

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Speaker 3: because because that's what.

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Speaker 1: I would recommend for folks who are in the stage

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Speaker 1: of the world. And Sam would both say that too.

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Speaker 1: I think so.

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Speaker 3: I think obviously been he's out there, he's providing some

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Speaker 3: nice color, given folks a good way to think about this. Yeah,

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Speaker 3: I'm guessing what he would say as well is, hey,

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Speaker 3: I'm trying to keep people from running for the exits,

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Speaker 3: which is the first point that you're trying to make

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Speaker 3: as well for folks who might be potentially trying to

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Speaker 3: sit this one out right where they're like, oh, no,

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Speaker 3: twenty twenty six, it's gonna be one of these years

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Speaker 3: where I'm not expecting to see much growth.

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Speaker 2: I don't want to be a part of this blood bath.

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Speaker 2: And then the blood bath doesn't occur, and you actually

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Speaker 2: missed out on stock market gains and I'm not even

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Speaker 2: promising that. Who knows, right, Like the stock market could

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Speaker 2: suffer losses this year, and maybe you look smart for

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Speaker 2: a second, but then then you always have the difficult

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Speaker 2: conundrum of when to get back in, when's it safe,

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Speaker 2: and it's it's just really hard to play that game

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Speaker 2: successfully over a long period of time.

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Speaker 1: Yeah, and that's what we are. We're we're in this

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Speaker 1: long haul.

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Speaker 3: But if instead of getting rich slowly, if instead you'd

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Speaker 3: rather lose money quickly, well, if you want to ensure that,

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Speaker 3: just start trading futures, which is all the rage right now,

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Speaker 3: as degenerates are trading gas futures twenty four to seven. Now,

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Speaker 3: oil and gas prices could have further to rise, but

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Speaker 3: whether they follow a rise in the next minutes or.

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Speaker 1: Hours is very much in flux.

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Speaker 3: And of course, given the just the high degree of

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Speaker 3: uncertainty in this market, not to mention the taco pivots

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Speaker 3: that Trump tends to make, I would not want any

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Speaker 3: of my money wagering on day to day or even

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Speaker 3: hourly market movements. Man Aside from that, investing on a

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Speaker 3: short term timeline is only a good idea if your

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Speaker 3: risk appetite is let's just say significant, and you're using

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Speaker 3: money that you don't mind losing because that is what's

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Speaker 3: most likely.

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Speaker 1: Likely going to happen. Yeah.

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Speaker 3: Yeah, it's hard to even categorized this in the same

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Speaker 3: sort of silo as investing, because it's not it's not investing,

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Speaker 3: it's basically gambling.

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Speaker 2: Well, and something else that was highlighted in the Financial

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Speaker 2: Times this week, Matt. They were talking about how it's

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Speaker 2: it's not just trading gas futures. Hey, worse, the price

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Speaker 2: of oil going to be tomorrow, and let's see if

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Speaker 2: I can make money quickly. People are trying to make

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Speaker 2: money quote unquote investing on an even shorter timeline. The

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Speaker 2: people are betting, not just on cryptocurrency. Where where did

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Speaker 2: the total thing go?

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Speaker 1: Right?

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Speaker 2: Are people are now gambling as to what the price

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Speaker 2: of specific cryptocurrencies will be fifteen or even five minutes

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Speaker 2: from the moment they make their investment. So uh yeah,

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Speaker 2: it's like, hey, what's gonna happen just in the next

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Speaker 2: few minutes. We'll see it's it's it's it's essentially like

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Speaker 2: putting money on red or black on roulette, right, It's

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Speaker 2: that's exactly what exactly what you're doing.

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Speaker 3: And it's like it's even worse than the crypto bros,

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Speaker 3: which are it's like the peanut gallery that hangs out

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Speaker 3: with the crypto bros. Yeah, Like it's it's like another

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Speaker 3: layer of degenerous.

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Speaker 2: It's not true believers in that way, right, it's like

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Speaker 2: true true speculation yea, and of yeah, it's utterly insane.

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Speaker 2: And so now you know you can use polymarket to

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Speaker 2: predict whether the price of ethereum, solana, bitcoin or whatever

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Speaker 2: is gonna be up in the next five minutes, or

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Speaker 2: if it's gonna be down to the next five minutes,

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Speaker 2: you just like literally say up or down, and then

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Speaker 2: you make money or lose. And it's just an insanely

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Speaker 2: stupid idea to take this massively speculative asset and incentivize

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Speaker 2: more speculation. So yeah, similar to making short term bets

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Speaker 2: on the price of a barrel of oil. It's a

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Speaker 2: completely ridiculous approach to trying to make money. And I

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Speaker 2: think we're gonna see just a ton of people Matt

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Speaker 2: lose money. And just like going to Vegas, the house

390
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Speaker 2: always wins. The sites that are allowing for these bets

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Speaker 2: this training, they're gonna do well, They're gonna make money.

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Speaker 2: They want you getting addicted to making these stupid bets

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Speaker 2: about what's gonna happen in the next five minutes. But

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Speaker 2: I think a lot of people who actually partake are

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Speaker 2: are not going to.

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Speaker 1: Do so well. That's right.

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Speaker 2: Yeah, let's talk more about crowds that we don't like

398
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Speaker 2: to have with Joel. Let's talk about Ticketmaster and specifically

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Speaker 2: their parent company, Live Nation. They are the worst. We've

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Speaker 2: talked about them before.

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Speaker 3: I'm sure folks are like, oh, I can't believe you

402
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Speaker 3: guys didn't because it's actually this hit a couple a

403
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Speaker 3: couple weeks ago.

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Speaker 2: But then some of the text messages or the internal

405
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Speaker 2: slack messages got linked this week, and I think that's

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Speaker 2: what made me like, Okay, we have to talk about it.

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Speaker 2: And I can't believe they were saying some of these things.

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Speaker 3: Yeah, they're like like they're bragging about like stupid fans

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Speaker 3: and robbing them blind. Essentially is some of the language

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Speaker 3: some of the internal emails, which is not good. And man,

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Speaker 3: we are all in a bind when a monopolistic company

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Speaker 3: is allowed to continue its rate of terror. But so essentially,

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Speaker 3: though there is a Justice Department settlement with Live Nation

414
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Speaker 3: and it didn't do a ton to Curbet's fees, there

415
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Speaker 3: is a payout. There's a small part of me that

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Speaker 3: has some hope because of how they structured this where

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Speaker 3: I mean, they're no longer a monopoly, right, and so

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Speaker 3: basically some of these venues now, if there is an

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Speaker 3: outside promoter that comes in, they have the ability to

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Speaker 3: choose a second a second party or a third party whatever.

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Speaker 3: I don't do I say that right, second party is

422
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Speaker 3: like you so a third party, yeah, somebody else to

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Speaker 3: be able to sell up to half of the seats

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Speaker 3: for that concert, which I don't know. It feels just

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Speaker 3: at least like cracking the seal on this sort of

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Speaker 3: death grip that Ticketmaster and Live Nation has had on

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Speaker 3: ticket sales. Even having one other player, I think has

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Speaker 3: the potential.

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Speaker 2: Yeah, but I think it only half the seats. What

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Speaker 2: I don't know, like, is really anything going to change.

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Speaker 2: Theoretically it should, but in practice will it I don't know.

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Speaker 2: I mean, so I'm not holding out too much hope,

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Speaker 2: but I think it's a step in the right direction.

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Speaker 2: We will see because the lass it's continuing I think

435
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Speaker 2: now up in New York because a bunch of states

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Speaker 2: have rejected it.

437
00:19:47,000 --> 00:19:48,320
Speaker 1: Uh So we'll see.

438
00:19:48,119 --> 00:19:52,760
Speaker 3: If they continue to get penalized and forced to completely restructure,

439
00:19:52,760 --> 00:19:55,800
Speaker 3: and how they sell the seats at all these different

440
00:19:55,880 --> 00:19:58,080
Speaker 3: venues that all these concert venues that they completely control.

441
00:19:58,400 --> 00:20:01,879
Speaker 2: Yeah, I know most artists are are frustrated by Ticketmaster.

442
00:20:02,280 --> 00:20:02,879
Speaker 1: To lego.

443
00:20:03,080 --> 00:20:05,120
Speaker 2: Was it was it Zach Bryan who had the all

444
00:20:05,160 --> 00:20:09,119
Speaker 2: My Homies Hate Ticketmaster album and then uses Ticketmaster to

445
00:20:09,160 --> 00:20:11,880
Speaker 2: sell all his tickets because there's no other game in town.

446
00:20:12,600 --> 00:20:15,440
Speaker 2: So it's like everybody hates you, but there's nothing we

447
00:20:15,480 --> 00:20:18,600
Speaker 2: can do about the fact that you run the entire game.

448
00:20:18,640 --> 00:20:20,840
Speaker 2: It's like it's like dealing with the mafia. Yeah, all right,

449
00:20:20,880 --> 00:20:24,360
Speaker 2: we got more to get to, including drones flying over

450
00:20:24,400 --> 00:20:27,760
Speaker 2: your home and you getting notice in the mail from

451
00:20:27,800 --> 00:20:30,520
Speaker 2: your insurance company. It's not it's not fun, it's not pretty.

452
00:20:30,520 --> 00:20:40,639
Speaker 2: We'll talk about that right after this. All right, buddy,

453
00:20:40,640 --> 00:20:43,359
Speaker 2: we are back from the break and we we've actually

454
00:20:43,359 --> 00:20:47,240
Speaker 2: got more to talk about when it comes to gambling.

455
00:20:47,680 --> 00:20:49,720
Speaker 3: We've got the ludicrous headline of the week, which is

456
00:20:49,760 --> 00:20:53,040
Speaker 3: from the Times of Israel. Gamblers trying to win a

457
00:20:53,080 --> 00:20:55,160
Speaker 3: bet on poly market are vowing to kill me if

458
00:20:55,160 --> 00:21:00,520
Speaker 3: I don't rewrites in Iran missile story. So this is, yeah,

459
00:21:00,640 --> 00:21:03,520
Speaker 3: kind of a continuation of what we've already been talking about, Joel,

460
00:21:03,560 --> 00:21:07,119
Speaker 3: but this just takes it to another level because you

461
00:21:07,160 --> 00:21:10,240
Speaker 3: can now make a prediction on anything under the sun,

462
00:21:10,440 --> 00:21:13,240
Speaker 3: and by make a prediction, what we really mean is gamble.

463
00:21:13,920 --> 00:21:16,239
Speaker 3: It is creating all sorts of knock on effects. And

464
00:21:16,280 --> 00:21:20,359
Speaker 3: there's a journalist that's basically received harassing emails and even

465
00:21:20,400 --> 00:21:24,000
Speaker 3: death threats for reporting about a missile explosion in Israel.

466
00:21:24,560 --> 00:21:26,879
Speaker 3: Fifteen million dollars was at stake in the form of

467
00:21:27,040 --> 00:21:31,240
Speaker 3: polymarket bets against a missile hitting Israel on March tenth, specifically,

468
00:21:31,720 --> 00:21:34,520
Speaker 3: which is a totally, completely ridiculous thing to bet on.

469
00:21:34,760 --> 00:21:37,199
Speaker 3: But the folks who stood to win try to coerce

470
00:21:37,200 --> 00:21:41,040
Speaker 3: the journals into changing his reporting despite pretty clear footage

471
00:21:41,080 --> 00:21:43,600
Speaker 3: that there was actual a missile strike. They're making it

472
00:21:43,640 --> 00:21:47,160
Speaker 3: sound but no, the something else was hit and that's

473
00:21:47,200 --> 00:21:49,159
Speaker 3: what caused the explosion. It wasn't actually the missile that

474
00:21:49,200 --> 00:21:51,280
Speaker 3: cause the explosion, the shrapnel from the missile.

475
00:21:51,400 --> 00:21:53,199
Speaker 2: And so he's getting all these disparate emails.

476
00:21:53,280 --> 00:21:53,800
Speaker 1: It's awful, man.

477
00:21:53,840 --> 00:21:55,920
Speaker 2: They're like, if you could just change this, because now

478
00:21:56,000 --> 00:21:59,199
Speaker 2: you're reporting starting to get reported elsewhere and if this

479
00:21:59,280 --> 00:22:01,879
Speaker 2: continues to have happened. They didn't explicitly say this in

480
00:22:01,920 --> 00:22:02,520
Speaker 2: the email.

481
00:22:02,280 --> 00:22:02,880
Speaker 1: But they're gonna.

482
00:22:02,920 --> 00:22:04,600
Speaker 2: They're like, we're gonna lose our bet, We're gonna lose

483
00:22:04,600 --> 00:22:06,359
Speaker 2: our money, and so if we can just get him

484
00:22:06,359 --> 00:22:09,159
Speaker 2: to tweak the language on this, then we can we

485
00:22:09,200 --> 00:22:11,560
Speaker 2: stand to win the cash. And then, uh, they got

486
00:22:11,600 --> 00:22:14,800
Speaker 2: pretty curious that he wouldn't change it, and so started

487
00:22:14,800 --> 00:22:15,679
Speaker 2: to Well.

488
00:22:15,560 --> 00:22:16,280
Speaker 1: It wasn't just threats.

489
00:22:16,280 --> 00:22:17,720
Speaker 3: There's Also there's also folks I don't know if you

490
00:22:17,720 --> 00:22:20,600
Speaker 3: saw too, that were offering him a part of their

491
00:22:20,640 --> 00:22:23,320
Speaker 3: winnings as well. So if there's some folks which you know,

492
00:22:24,160 --> 00:22:27,119
Speaker 3: the free market, I do appreciate folks, uh, some folks

493
00:22:27,119 --> 00:22:31,160
Speaker 3: opting for the carrots, opting for the stick. It's pretty dirty, yeah,

494
00:22:31,160 --> 00:22:33,480
Speaker 3: And it is dirty because it turns all of these folks,

495
00:22:33,480 --> 00:22:36,880
Speaker 3: all these degenerates, into the mafia in and of themselves.

496
00:22:36,960 --> 00:22:37,160
Speaker 1: Yeah.

497
00:22:37,480 --> 00:22:40,639
Speaker 2: Just another problem with these with these websites, and I

498
00:22:40,680 --> 00:22:43,560
Speaker 2: think that those problems are just gonna proliferate. And so

499
00:22:43,600 --> 00:22:46,480
Speaker 2: I was actually encouraged to see. Arizona has sued Calshi.

500
00:22:46,840 --> 00:22:49,280
Speaker 2: They accused it of being an illegal gambling site, which

501
00:22:49,920 --> 00:22:52,840
Speaker 2: it is. Uh duh, that's what it is. We'll see

502
00:22:52,880 --> 00:22:56,399
Speaker 2: how this proceeds in court though, and they're specifically I

503
00:22:56,400 --> 00:22:58,800
Speaker 2: think Matt going for the loophole. Gambling on elections is

504
00:22:58,840 --> 00:23:01,320
Speaker 2: illegal in a state of Arizona, and the state's attorney

505
00:23:01,359 --> 00:23:05,359
Speaker 2: general is alleging that Calshi is allowing citizens to gamble

506
00:23:05,359 --> 00:23:07,960
Speaker 2: on elections in this state of Arizona, which they are.

507
00:23:08,280 --> 00:23:10,960
Speaker 2: So Arizona, we wish you the best of luck. And

508
00:23:11,560 --> 00:23:15,359
Speaker 2: actually Matt Major League Baseball just announced that they're partnering

509
00:23:15,800 --> 00:23:20,760
Speaker 2: with poly Market, so you can basically gamble on anything

510
00:23:20,800 --> 00:23:22,359
Speaker 2: under the sun in terms of baseball, I think they

511
00:23:22,440 --> 00:23:24,840
Speaker 2: left a few things out because but I mean, man,

512
00:23:24,920 --> 00:23:26,879
Speaker 2: this just makes me think that that Pete Rose should

513
00:23:26,960 --> 00:23:29,440
Speaker 2: probably be put in the Hall of Fame after Oh,

514
00:23:29,640 --> 00:23:32,400
Speaker 2: I mean just thinking Major League Baseball is like, let's

515
00:23:32,400 --> 00:23:36,040
Speaker 2: go Polly Market. Come on, like, is there nothing? Does

516
00:23:36,080 --> 00:23:37,520
Speaker 2: anyone have any credibility anymore?

517
00:23:37,560 --> 00:23:39,120
Speaker 1: Nothing is off limits? Yeah.

518
00:23:39,440 --> 00:23:41,720
Speaker 3: I'm really actually curious to see what that lawsuit leads to,

519
00:23:41,840 --> 00:23:44,879
Speaker 3: because online gambling is illegal in a lot of states,

520
00:23:45,000 --> 00:23:46,360
Speaker 3: and so this could be the first.

521
00:23:46,240 --> 00:23:49,360
Speaker 1: Of many lawsuits to come and we'll see if the.

522
00:23:49,440 --> 00:23:52,600
Speaker 2: Likes of call She end up making it Through all

523
00:23:52,640 --> 00:23:55,800
Speaker 2: of this, Let's talk about insurance, Joel, because State Farm

524
00:23:56,359 --> 00:24:00,000
Speaker 2: is apparently using drones to assess the homes of its customers.

525
00:24:00,680 --> 00:24:00,880
Speaker 1: Right.

526
00:24:00,960 --> 00:24:04,200
Speaker 3: You just picture somebody in the car on their phone

527
00:24:04,280 --> 00:24:07,479
Speaker 3: or device or whatever, and you hear like a like

528
00:24:07,680 --> 00:24:11,320
Speaker 3: out the window looking for anything that's messed up on

529
00:24:11,320 --> 00:24:14,320
Speaker 3: their house. And then those customers are then getting letters

530
00:24:14,359 --> 00:24:15,840
Speaker 3: in the mail telling them that they've got to make

531
00:24:15,880 --> 00:24:20,280
Speaker 3: these costly repairs or else, and a State Farm drone

532
00:24:20,560 --> 00:24:23,080
Speaker 3: took pics found roof damage, which they said needed to

533
00:24:23,080 --> 00:24:26,760
Speaker 3: be addressed within thirty days. It's going to cost that individual,

534
00:24:27,040 --> 00:24:28,320
Speaker 3: you know, twenty thousand dollars.

535
00:24:28,520 --> 00:24:30,720
Speaker 1: Roofs are not they're not cheap.

536
00:24:30,760 --> 00:24:34,159
Speaker 3: True, And this isn't honestly all that new because insurance

537
00:24:34,160 --> 00:24:37,120
Speaker 3: companies they've been using people in order to drive by,

538
00:24:37,200 --> 00:24:40,000
Speaker 3: take a picture of the home and in order to

539
00:24:40,040 --> 00:24:42,959
Speaker 3: assess damage, send notices things that they don't like.

540
00:24:43,040 --> 00:24:45,280
Speaker 2: I've had that happened to me before. Right, where have

541
00:24:45,359 --> 00:24:47,320
Speaker 2: you ad you recently? No, it's been a while. But

542
00:24:47,320 --> 00:24:49,520
Speaker 2: where do they come by and they're like, hey, address

543
00:24:49,560 --> 00:24:52,359
Speaker 2: this tree branch, Hey address this yep, make sure the

544
00:24:52,400 --> 00:24:54,119
Speaker 2: tree branch doesn't touch in the house. You were the

545
00:24:54,160 --> 00:24:56,159
Speaker 2: first house I lived in, and it had a parking

546
00:24:56,200 --> 00:24:59,280
Speaker 2: pad but without the yeah I remember, but it was

547
00:24:59,320 --> 00:25:02,080
Speaker 2: like literally it was one parking pad off the street

548
00:25:02,280 --> 00:25:05,560
Speaker 2: and there was a drop from the parking pad to

549
00:25:05,640 --> 00:25:08,040
Speaker 2: the rest of the driveway. It was super dangerous, right,

550
00:25:08,200 --> 00:25:11,680
Speaker 2: So just to it's hard just to pay the picture

551
00:25:11,720 --> 00:25:12,199
Speaker 2: for folks.

552
00:25:12,440 --> 00:25:15,760
Speaker 3: Uh, this lot that the house was on dropped away

553
00:25:15,800 --> 00:25:18,320
Speaker 3: from the road significantly. Yeah, Like it was very steep,

554
00:25:18,720 --> 00:25:21,880
Speaker 3: and so picture a fairly level parking pad. But then

555
00:25:22,119 --> 00:25:24,159
Speaker 3: after the parking pad stops, was it like a two

556
00:25:24,200 --> 00:25:27,600
Speaker 3: foot drop? Probably a foot? Yeah, yeah, like enough to

557
00:25:27,600 --> 00:25:28,800
Speaker 3: totally over your car.

558
00:25:28,840 --> 00:25:33,400
Speaker 2: It's like, and so the insurance company is like, hey,

559
00:25:33,400 --> 00:25:34,880
Speaker 2: you need to put up you need to put one

560
00:25:34,880 --> 00:25:38,120
Speaker 2: of the bumper concrete bumpers, and then something else, right,

561
00:25:38,119 --> 00:25:40,359
Speaker 2: And so I literally I did the cheapest thing I could.

562
00:25:40,400 --> 00:25:42,240
Speaker 2: My neighbor had a concrete mixture. We put down a

563
00:25:42,280 --> 00:25:44,040
Speaker 2: little bumper and then I got one of those You're

564
00:25:44,080 --> 00:25:45,600
Speaker 2: lucky to Marty had that.

565
00:25:45,840 --> 00:25:47,480
Speaker 1: Yeah, that's his name, right, I remember that guy.

566
00:25:47,560 --> 00:25:49,639
Speaker 3: You're lucky that he had a concrete That's not something

567
00:25:49,680 --> 00:25:52,920
Speaker 3: that people normally do. I know that people normally have

568
00:25:53,000 --> 00:25:55,439
Speaker 3: on hand. We created like a wood form for it,

569
00:25:55,480 --> 00:25:57,920
Speaker 3: and we the concrete man.

570
00:25:57,960 --> 00:25:58,679
Speaker 1: But like, I get it.

571
00:25:58,720 --> 00:26:02,240
Speaker 2: If I'm the insurance company, I probably like, that's a

572
00:26:02,280 --> 00:26:04,800
Speaker 2: real risk for me if the homeowner doesn't address it.

573
00:26:04,840 --> 00:26:06,840
Speaker 2: So this is the kind of thing, like I get it,

574
00:26:07,000 --> 00:26:09,160
Speaker 2: But this is like the next step. I think people

575
00:26:09,160 --> 00:26:12,640
Speaker 2: feel maybe like there their privacies invaded because the drones

576
00:26:12,880 --> 00:26:14,920
Speaker 2: flying over their head and they weren't.

577
00:26:14,680 --> 00:26:15,119
Speaker 1: Aware of it.

578
00:26:15,560 --> 00:26:17,800
Speaker 2: And realist too, I mean a lot of times, if

579
00:26:17,800 --> 00:26:19,800
Speaker 2: they see anything, they're just gonna flag it and tell

580
00:26:19,800 --> 00:26:23,280
Speaker 2: you to fix it. Sure, I've had instances where I've said, hey,

581
00:26:23,359 --> 00:26:25,800
Speaker 2: got this actually isn't a problem, and I've taken photos

582
00:26:25,840 --> 00:26:28,880
Speaker 2: of what they've alleged and they're like, okay, we're good.

583
00:26:29,440 --> 00:26:31,760
Speaker 2: But then I've also done that and they're like, no, no,

584
00:26:31,840 --> 00:26:34,200
Speaker 2: you need to fix that. So like this is another

585
00:26:34,240 --> 00:26:36,240
Speaker 2: case for learning how to get handy with some of

586
00:26:36,240 --> 00:26:39,280
Speaker 2: these repairs because I could have paid, and we talked

587
00:26:39,320 --> 00:26:41,080
Speaker 2: about this on the show. I could have paid someone hundreds,

588
00:26:41,080 --> 00:26:43,960
Speaker 2: if not thousands of dollars to show up at this property.

589
00:26:44,240 --> 00:26:47,120
Speaker 2: Get the ladder, get up on the roof, see where

590
00:26:47,160 --> 00:26:49,840
Speaker 2: the woodpecker damages, and on the facia, you know where

591
00:26:49,840 --> 00:26:51,720
Speaker 2: it's busted. You know they called it wood rot or

592
00:26:51,720 --> 00:26:54,479
Speaker 2: something like that, but it's just pull out the wood putty,

593
00:26:54,920 --> 00:26:56,920
Speaker 2: get it on there, let it drip, saying it paint

594
00:26:56,920 --> 00:26:57,280
Speaker 2: it like.

595
00:26:57,760 --> 00:27:00,160
Speaker 1: It's fairly simple stuff. It's just kind of annoying, but

596
00:27:00,520 --> 00:27:01,359
Speaker 1: totally worth it.

597
00:27:01,400 --> 00:27:03,960
Speaker 3: Based on where we've seen home insurance rates going, sure

598
00:27:04,600 --> 00:27:07,000
Speaker 3: in Georgia, we have seen prices increase twenty four percent

599
00:27:07,280 --> 00:27:10,760
Speaker 3: since twenty twenty three, which is the ability to stay

600
00:27:10,800 --> 00:27:14,640
Speaker 3: locked into a low cost home insurance provider. Dude made

601
00:27:14,640 --> 00:27:17,919
Speaker 3: that well worth it, well worth the savings of hundreds,

602
00:27:17,920 --> 00:27:20,719
Speaker 3: if not thousands of dollars every single year moving forward. Yeah,

603
00:27:20,800 --> 00:27:23,200
Speaker 3: it's the kind of thing you ignore that letter, I

604
00:27:23,240 --> 00:27:25,120
Speaker 3: guess set your own peril. Yeah, and not to mention

605
00:27:25,160 --> 00:27:27,000
Speaker 3: it just I don't know. You take pride, you should

606
00:27:27,000 --> 00:27:29,520
Speaker 3: take pride in your property, and with us being an investment,

607
00:27:29,560 --> 00:27:32,000
Speaker 3: property just means a nicer place for the renter to

608
00:27:32,040 --> 00:27:34,600
Speaker 3: live in, not to mention the ability to charge an

609
00:27:34,640 --> 00:27:37,200
Speaker 3: appropriate amount of rent for that slightly nicer place.

610
00:27:37,560 --> 00:27:40,120
Speaker 2: So homes are expensive these days, man, which means saving

611
00:27:40,200 --> 00:27:42,760
Speaker 2: up and down payment can feel impossible to a lot

612
00:27:42,800 --> 00:27:44,960
Speaker 2: of people. And the more you save, the more home

613
00:27:44,960 --> 00:27:47,560
Speaker 2: prices go up, and you just kind of can feel

614
00:27:47,840 --> 00:27:50,720
Speaker 2: I think it has felt for a lot of want

615
00:27:50,720 --> 00:27:54,280
Speaker 2: to be homeowners like this per care that keeps getting

616
00:27:54,320 --> 00:27:54,840
Speaker 2: pushed off.

617
00:27:56,119 --> 00:27:57,560
Speaker 1: Like you remember the get.

618
00:27:57,400 --> 00:28:00,359
Speaker 2: The Greyhound track or whatever, and I that I go

619
00:28:00,400 --> 00:28:02,399
Speaker 2: watch Greyhound Racist but like you know, there's like the

620
00:28:02,480 --> 00:28:04,080
Speaker 2: rabbit that they put out in front of the greyhounds

621
00:28:04,119 --> 00:28:05,840
Speaker 2: but they can't never catch them or whatever. I think

622
00:28:05,880 --> 00:28:07,879
Speaker 2: it feels like that's a lot of homeowners, and so

623
00:28:09,040 --> 00:28:12,280
Speaker 2: I guess it's worth mentioning that there are home buying

624
00:28:12,320 --> 00:28:15,320
Speaker 2: assistance programs that exist all across the country, and it's

625
00:28:15,520 --> 00:28:18,800
Speaker 2: worth seeing what sort of funds might be available near you.

626
00:28:18,800 --> 00:28:20,560
Speaker 2: You might not have to save up this down payment

627
00:28:20,600 --> 00:28:24,080
Speaker 2: all by yourself. Down Payment Resource is actually a cool

628
00:28:24,160 --> 00:28:25,800
Speaker 2: tool that can help with that. We'll link to it

629
00:28:25,840 --> 00:28:28,480
Speaker 2: in the show notes, and they report that more folks

630
00:28:28,480 --> 00:28:31,520
Speaker 2: are eligible for these programs right now, even people who

631
00:28:31,560 --> 00:28:35,320
Speaker 2: make a decent salary. So one example they shared is

632
00:28:35,359 --> 00:28:39,120
Speaker 2: that where my wife is fromhis Memphis offers a down

633
00:28:39,120 --> 00:28:42,480
Speaker 2: payment assistance offers down paym assistance to households with twice

634
00:28:42,520 --> 00:28:46,440
Speaker 2: the local media and income that purchase in designated areas

635
00:28:46,440 --> 00:28:49,760
Speaker 2: of the city. So even if you make good money,

636
00:28:49,920 --> 00:28:53,400
Speaker 2: depending on where you're trying to buy, you might get

637
00:28:53,560 --> 00:28:57,280
Speaker 2: pretty significant down payment help buying in certain segments of

638
00:28:57,320 --> 00:28:58,880
Speaker 2: the city. In San Francisco, you can earn more than

639
00:28:58,920 --> 00:29:02,120
Speaker 2: two hundred thousand dollars and still qualify for down payment assistance.

640
00:29:02,280 --> 00:29:05,600
Speaker 2: Granted two hundred thousand dollars in San Francisco still a

641
00:29:05,640 --> 00:29:07,520
Speaker 2: lot of money, is my guest. That's very expensive place

642
00:29:07,520 --> 00:29:10,800
Speaker 2: to live, but most resources are of course targeted towards

643
00:29:10,840 --> 00:29:12,960
Speaker 2: people making a lot less than that. But whether it's

644
00:29:12,960 --> 00:29:15,240
Speaker 2: for you or for a friend, I guess it's just

645
00:29:15,520 --> 00:29:19,240
Speaker 2: worth mentioning that these programs exist, and we should totally

646
00:29:19,320 --> 00:29:22,600
Speaker 2: link to that down payment resource tool in the show

647
00:29:22,640 --> 00:29:23,200
Speaker 2: notes as well.

648
00:29:23,320 --> 00:29:25,560
Speaker 1: Totally Yeah, that was over at Washington Post.

649
00:29:25,760 --> 00:29:30,720
Speaker 3: So these assistant programs exist. Let's talk about something else

650
00:29:30,880 --> 00:29:34,280
Speaker 3: that is helping new homeowners save money on housing, and

651
00:29:34,480 --> 00:29:38,040
Speaker 3: that is the attractive arms portion of our show today.

652
00:29:38,400 --> 00:29:42,600
Speaker 3: So arms are attracting buyers in larger numbers given the

653
00:29:42,720 --> 00:29:46,960
Speaker 3: widening gap in rates on adjustable rate mortgages versus thirty

654
00:29:47,040 --> 00:29:51,360
Speaker 3: year fixed mortgages today, So there's still hesitancy I think

655
00:29:51,400 --> 00:29:55,960
Speaker 3: for folks to consider an ARM because essentially, like I mean,

656
00:29:56,360 --> 00:29:59,920
Speaker 3: housing market blew up in the aftermath of the Great Recession.

657
00:30:00,320 --> 00:30:02,360
Speaker 2: Arm core scene is one of the culprits, or at

658
00:30:02,440 --> 00:30:05,480
Speaker 2: least one of the riskier endeavors that sure really harm people.

659
00:30:05,480 --> 00:30:07,400
Speaker 3: I think folks are think about arms and they kind

660
00:30:07,440 --> 00:30:09,000
Speaker 3: of go in the same sort of category as like

661
00:30:09,040 --> 00:30:12,120
Speaker 3: the subprime mortgages that were being lent out there.

662
00:30:12,600 --> 00:30:15,200
Speaker 1: But they are today like just way safer than they

663
00:30:15,200 --> 00:30:15,840
Speaker 1: were back then.

664
00:30:15,880 --> 00:30:19,560
Speaker 3: They're more conservative, they've got better guardrails, and today the

665
00:30:19,600 --> 00:30:22,400
Speaker 3: interest rate gap is close to three quarters of a

666
00:30:22,440 --> 00:30:26,200
Speaker 3: point between a seven year arm and a thirty year

667
00:30:26,320 --> 00:30:29,520
Speaker 3: fixed rate mortgage. So, man, if you can get a

668
00:30:29,520 --> 00:30:32,920
Speaker 3: low rate locked in for like certain seven years, is

669
00:30:32,920 --> 00:30:35,320
Speaker 3: pretty attractive. But even beyond that, like ten or fifteen years,

670
00:30:35,480 --> 00:30:39,160
Speaker 3: I think that makes it really worth considering a lot

671
00:30:39,200 --> 00:30:40,920
Speaker 3: of folk who are offering these products.

672
00:30:40,960 --> 00:30:44,440
Speaker 1: And yeah, it's worth mentioning because I mean, adjustment rate mortgage.

673
00:30:44,480 --> 00:30:46,800
Speaker 3: It's not the best bet for everyone who is listening

674
00:30:46,880 --> 00:30:49,160
Speaker 3: right now, but it's definitely worth considering. It's definitely worth

675
00:30:49,200 --> 00:30:51,680
Speaker 3: learning the pros and the cons. You should run the numbers,

676
00:30:51,720 --> 00:30:53,520
Speaker 3: you should take into account how long you're going to

677
00:30:53,720 --> 00:30:56,800
Speaker 3: plan to stay in that home. That's another huge factor

678
00:30:56,800 --> 00:31:00,160
Speaker 3: that I think folks overlook as you think you're I

679
00:31:00,200 --> 00:31:02,120
Speaker 3: don't know. I think this is how I thought, at

680
00:31:02,200 --> 00:31:04,040
Speaker 3: least when I was a first time home bar, even

681
00:31:04,040 --> 00:31:05,000
Speaker 3: a second time home bar.

682
00:31:05,360 --> 00:31:07,360
Speaker 1: But I thought, oh, I'm going to be here forever.

683
00:31:08,080 --> 00:31:10,880
Speaker 3: But if you look at the historical averages, like you

684
00:31:10,920 --> 00:31:13,200
Speaker 3: look at the past twenty years, and people move every

685
00:31:13,200 --> 00:31:16,080
Speaker 3: six years. More recently, that's been climbing.

686
00:31:16,160 --> 00:31:16,720
Speaker 1: It's climbed up.

687
00:31:16,800 --> 00:31:16,960
Speaker 2: Yeah.

688
00:31:17,000 --> 00:31:18,960
Speaker 3: Yeah, so today it's twelve it's twelve years, and that

689
00:31:19,000 --> 00:31:20,440
Speaker 3: has a lot to do with the fact that people

690
00:31:20,520 --> 00:31:24,000
Speaker 3: are locked in. They've got those low rates and it's

691
00:31:24,120 --> 00:31:26,680
Speaker 3: sting as they will and bringing the housing market to

692
00:31:26,720 --> 00:31:31,320
Speaker 3: a standstill. Yeah, but that is worth thinking through as

693
00:31:31,760 --> 00:31:33,920
Speaker 3: hopefully mortgage rates come down, and also what you plan

694
00:31:33,960 --> 00:31:36,160
Speaker 3: on doing with at home too, right, because if you

695
00:31:36,200 --> 00:31:38,320
Speaker 3: know that, oh this is you know, this is just

696
00:31:38,480 --> 00:31:41,960
Speaker 3: a starter home, but we would love to be able

697
00:31:41,960 --> 00:31:44,680
Speaker 3: to transition this into an investment property. Okay, Well, that's

698
00:31:44,720 --> 00:31:47,520
Speaker 3: going to be more of an argument for possibly getting

699
00:31:47,520 --> 00:31:49,240
Speaker 3: something locked in for the long term, because who knows

700
00:31:49,240 --> 00:31:51,200
Speaker 3: what rates are going to look like in seven, ten,

701
00:31:51,280 --> 00:31:53,160
Speaker 3: fifteen years from now. And there's a little bit of

702
00:31:53,280 --> 00:31:56,000
Speaker 3: additional risk, right, because you're like, well, if I do

703
00:31:56,080 --> 00:31:57,640
Speaker 3: hold on to longer than I.

704
00:31:57,640 --> 00:31:59,360
Speaker 2: Planned, onto the home, longer than I'm going to end,

705
00:31:59,360 --> 00:32:01,560
Speaker 2: you can see it rate resets and rates are high,

706
00:32:01,600 --> 00:32:05,560
Speaker 2: and so my rate goes up. Yeah, I could see how. Yeah,

707
00:32:05,960 --> 00:32:08,680
Speaker 2: it's worth factoring in that risk, but you also have

708
00:32:08,720 --> 00:32:12,200
Speaker 2: to factor in the much better rate and terms you

709
00:32:12,280 --> 00:32:15,520
Speaker 2: might get for at least a decade in the meantime. Yeah,

710
00:32:15,560 --> 00:32:18,480
Speaker 2: and so think through that as well. What you're giving

711
00:32:18,600 --> 00:32:20,600
Speaker 2: up on the front end. I had I got my

712
00:32:20,680 --> 00:32:23,480
Speaker 2: first arm, Matt, the a ten year, ten to one

713
00:32:23,560 --> 00:32:26,360
Speaker 2: arm when we bought our most recent house when we

714
00:32:26,440 --> 00:32:29,080
Speaker 2: when we moved, so we've had it for almost four years.

715
00:32:29,240 --> 00:32:31,720
Speaker 2: I'm not nervous for four years. It's paid off for

716
00:32:31,760 --> 00:32:34,280
Speaker 2: four years. It's been great, Like six years are not

717
00:32:34,320 --> 00:32:35,600
Speaker 2: paid off for four years.

718
00:32:36,040 --> 00:32:36,800
Speaker 1: It's a winner.

719
00:32:36,920 --> 00:32:40,280
Speaker 2: Yes, And you know, six years from now, maybe I'll

720
00:32:40,320 --> 00:32:42,200
Speaker 2: have to be singing a different songs or looking around.

721
00:32:42,400 --> 00:32:42,840
Speaker 1: We'll see.

722
00:32:42,840 --> 00:32:46,680
Speaker 2: Maybe I'll be a little sad because are frustrated because

723
00:32:46,880 --> 00:32:49,640
Speaker 2: my rate's about the climb, and man, I really should

724
00:32:49,680 --> 00:32:51,720
Speaker 2: but I'm gonna least be thoughtful in the interim and

725
00:32:52,080 --> 00:32:54,480
Speaker 2: maybe maybe it means a refinance before we get to

726
00:32:54,520 --> 00:32:54,880
Speaker 2: that point.

727
00:32:54,920 --> 00:32:56,800
Speaker 1: I don't know, but at least options. Yeah.

728
00:32:56,840 --> 00:33:00,720
Speaker 2: But like I think arms are, because of that magnificant gap,

729
00:33:00,840 --> 00:33:03,040
Speaker 2: more attractive for should be more attractive for a lot

730
00:33:03,080 --> 00:33:03,920
Speaker 2: of home buyers right now.

731
00:33:04,040 --> 00:33:07,120
Speaker 3: Yeah, everyone deserves a second chance, even arms. Joel, that's

732
00:33:07,200 --> 00:33:08,640
Speaker 3: right about what about Wells Fargo?

733
00:33:09,840 --> 00:33:10,960
Speaker 1: Have they reading their image?

734
00:33:11,160 --> 00:33:12,760
Speaker 3: I think they're doing a little bit better, but I

735
00:33:12,840 --> 00:33:15,240
Speaker 3: still I think a lot of the bigger players are slowly,

736
00:33:15,440 --> 00:33:17,479
Speaker 3: I don't know, they're making some changes, climbing their way

737
00:33:17,480 --> 00:33:20,000
Speaker 3: out of the holes of they doug for themselves.

738
00:33:20,040 --> 00:33:25,120
Speaker 2: Let's talk lastly, Matt, maybe about spring sports, because baseball, lacrosse,

739
00:33:25,160 --> 00:33:26,720
Speaker 2: like all the kids are playing all these sports. My

740
00:33:26,800 --> 00:33:29,840
Speaker 2: kids are not playing lacrosse, although one one would like to.

741
00:33:30,480 --> 00:33:33,040
Speaker 2: Just too much of a time commitment. But I'm all

742
00:33:33,040 --> 00:33:35,160
Speaker 2: forgetting you're doing You're doing baseball, right, We're doing baseball.

743
00:33:35,560 --> 00:33:38,480
Speaker 2: We're loving it, We're having a great time. But as

744
00:33:38,520 --> 00:33:41,240
Speaker 2: any parent knows, youth sports can be expensive. They can

745
00:33:41,280 --> 00:33:43,960
Speaker 2: get expensive really quickly. I have friends like driving to

746
00:33:44,840 --> 00:33:46,760
Speaker 2: all parts of the Southeast trying to get their kids

747
00:33:46,760 --> 00:33:49,320
Speaker 2: at different events. It sounds a little intense. That sounds

748
00:33:49,320 --> 00:33:51,760
Speaker 2: like the worst part. Yeah, that sounds like the worst part.

749
00:33:51,760 --> 00:33:52,960
Speaker 2: I don't think I want to do that. But even

750
00:33:53,000 --> 00:33:55,480
Speaker 2: the gear itself, right, can be really expensive. And the

751
00:33:55,800 --> 00:33:57,920
Speaker 2: Wall Street Journal had a profile of Dick Sporting Goods,

752
00:33:57,920 --> 00:33:59,920
Speaker 2: which has become like the go to place I think

753
00:34:00,080 --> 00:34:03,200
Speaker 2: for families. They have also they have like I think

754
00:34:03,200 --> 00:34:05,200
Speaker 2: I have batty cages in their rock climbing wall. So

755
00:34:05,240 --> 00:34:07,400
Speaker 2: it's kind of like a fun place to go hang

756
00:34:07,480 --> 00:34:09,879
Speaker 2: and then you end up buying all their gear and

757
00:34:10,080 --> 00:34:14,560
Speaker 2: spending way too much. So Dix is like highly valuable

758
00:34:14,560 --> 00:34:17,960
Speaker 2: now because of the rise of youth sports, baseball is

759
00:34:17,960 --> 00:34:21,040
Speaker 2: their biggest money maker, which makes sense because colorful cleats,

760
00:34:21,080 --> 00:34:24,160
Speaker 2: expensive bats, like, it ain't cheap to outfit somebody for

761
00:34:24,200 --> 00:34:25,439
Speaker 2: baseball a lot of gear.

762
00:34:25,600 --> 00:34:27,880
Speaker 1: Yes, yeah, and.

763
00:34:27,400 --> 00:34:30,480
Speaker 2: We're not trying to throw shade on Dick's sporting goods,

764
00:34:30,480 --> 00:34:35,799
Speaker 2: but consider alternatives to the professionalization of kid sports in

765
00:34:35,840 --> 00:34:38,520
Speaker 2: your life, because it can cost a ton in both

766
00:34:38,560 --> 00:34:41,359
Speaker 2: time and money, and your kid truly does not need

767
00:34:41,560 --> 00:34:44,320
Speaker 2: one hundred and twenty five dollars cleats to play baseball.

768
00:34:45,080 --> 00:34:48,240
Speaker 2: Makes me think Matt, one of my good buddies who's

769
00:34:48,560 --> 00:34:52,279
Speaker 2: coaching my son's team. He was in a nice part

770
00:34:52,280 --> 00:34:55,200
Speaker 2: of town recently meeting somebody and he went over to

771
00:34:55,239 --> 00:34:57,240
Speaker 2: the Goodwill and he's like, dude, I got a great

772
00:34:57,320 --> 00:34:58,560
Speaker 2: bat for like five bucks.

773
00:34:58,560 --> 00:35:00,640
Speaker 1: Man. This is like, it's probably a hun dollar bat

774
00:35:00,680 --> 00:35:03,360
Speaker 1: for my kid. Yeah, Goodwill. Maybe that's how you do it.

775
00:35:03,440 --> 00:35:05,040
Speaker 1: Our bad game from good Will. It's not as nice

776
00:35:05,040 --> 00:35:07,960
Speaker 1: as his, but you gotta go. Oh Man.

777
00:35:08,000 --> 00:35:12,080
Speaker 3: Another a buddy of mine talked about, Yeah, the nicer

778
00:35:12,160 --> 00:35:13,480
Speaker 3: part of I know, I know what part of town

779
00:35:13,520 --> 00:35:16,640
Speaker 3: you're talking about, but he it's it's where he works

780
00:35:16,760 --> 00:35:19,759
Speaker 3: for the most part, even though they live in more

781
00:35:19,760 --> 00:35:21,640
Speaker 3: affordable parts of town where we live.

782
00:35:22,239 --> 00:35:24,359
Speaker 1: But that's where they got so much art.

783
00:35:25,160 --> 00:35:27,960
Speaker 3: They found originals and he's got He's like, we've got

784
00:35:27,960 --> 00:35:30,480
Speaker 3: so much art from that night. You know, there's some

785
00:35:30,560 --> 00:35:32,160
Speaker 3: nice good wills that they go and hit up. But

786
00:35:32,280 --> 00:35:35,399
Speaker 3: I think, yeah, that's great advice. And I'm thinking about

787
00:35:35,400 --> 00:35:39,320
Speaker 3: this and I wonder how much of us as parents

788
00:35:39,680 --> 00:35:42,960
Speaker 3: overspend over spending on kids sports. How much of that

789
00:35:43,080 --> 00:35:47,399
Speaker 3: is just the transfer of the spending that we are

790
00:35:47,480 --> 00:35:49,160
Speaker 3: used to spending on them as their babies, you know,

791
00:35:49,160 --> 00:35:51,440
Speaker 3: like when they're when they're babies, there's.

792
00:35:51,239 --> 00:35:51,919
Speaker 1: All this gear.

793
00:35:52,000 --> 00:35:54,680
Speaker 3: There's all this stuff you get like the the well

794
00:35:54,920 --> 00:35:57,440
Speaker 3: rated car seats. Oh, I'm gonna you gotta get a

795
00:35:57,440 --> 00:36:00,960
Speaker 3: bit crib. Oh I gotta get the like you get

796
00:36:01,000 --> 00:36:04,480
Speaker 3: all of these things that go into Oh gotta get

797
00:36:04,480 --> 00:36:07,080
Speaker 3: the monitoring camera and I don't know, the temperature doesn't

798
00:36:07,080 --> 00:36:07,640
Speaker 3: have infrared.

799
00:36:07,800 --> 00:36:09,400
Speaker 1: You know, this is I call this gear.

800
00:36:10,000 --> 00:36:13,440
Speaker 3: And kids get older and you're then you're buying them toys,

801
00:36:13,480 --> 00:36:15,440
Speaker 3: maybe like a gaming console and a lot I think

802
00:36:15,480 --> 00:36:17,960
Speaker 3: a lot of times it just feels like pointless.

803
00:36:18,000 --> 00:36:19,520
Speaker 1: You're like, why are we getting all this? This is?

804
00:36:19,840 --> 00:36:20,839
Speaker 1: But it feels like you have to.

805
00:36:21,480 --> 00:36:23,560
Speaker 3: And then parents go to a Dix and you see

806
00:36:23,600 --> 00:36:27,959
Speaker 3: all this cool stuff and you think, oh, for yeah,

807
00:36:27,960 --> 00:36:31,480
Speaker 3: and Dix is they're selling potential Joel, you know, like

808
00:36:31,520 --> 00:36:33,520
Speaker 3: that's what they've got out on display. It's like the

809
00:36:33,560 --> 00:36:37,240
Speaker 3: ability for your kid to be awesome at whatever sport

810
00:36:37,360 --> 00:36:39,319
Speaker 3: it is. And so I think it's very easy. It's

811
00:36:39,440 --> 00:36:42,440
Speaker 3: us us as parents that kind of transfer easily transition

812
00:36:42,520 --> 00:36:45,160
Speaker 3: from spending on baby stuff and just going right down

813
00:36:45,360 --> 00:36:49,160
Speaker 3: that path to spending how very much on colorful cleats

814
00:36:49,200 --> 00:36:50,520
Speaker 3: and let's let's be honest.

815
00:36:51,040 --> 00:36:52,759
Speaker 2: I definitely know this is true for my kids, but

816
00:36:52,760 --> 00:36:54,840
Speaker 2: I'm pretty sure it's true for all everybody listening to

817
00:36:54,960 --> 00:36:57,479
Speaker 2: and their kids. Your kids not Michael Jordan, your kids

818
00:36:57,520 --> 00:36:59,479
Speaker 2: not the next Mookie Bets. You don't need to spend

819
00:36:59,640 --> 00:37:02,040
Speaker 2: money on them like they're going to be the next superstar.

820
00:37:02,400 --> 00:37:04,320
Speaker 1: They can have somebody listening.

821
00:37:04,480 --> 00:37:07,919
Speaker 2: Their kid maybe is one person listening, and more power

822
00:37:07,960 --> 00:37:09,359
Speaker 2: to you should spend all the money you want, I guess,

823
00:37:09,360 --> 00:37:12,000
Speaker 2: because they're gonna make it back in lifetime. Earnings, but

824
00:37:12,080 --> 00:37:14,840
Speaker 2: for the most part not true. And guess what, getting

825
00:37:14,880 --> 00:37:18,200
Speaker 2: the cheaper cleats, getting the used cleats on eBay like

826
00:37:18,239 --> 00:37:21,799
Speaker 2: I did for Ezra, It's it's not gonna inhibit their

827
00:37:21,840 --> 00:37:23,759
Speaker 2: ability to enjoy the game and have a great time

828
00:37:23,960 --> 00:37:25,080
Speaker 2: and learn what they need to learn.

829
00:37:25,360 --> 00:37:26,160
Speaker 1: Yep, I love it.

830
00:37:26,200 --> 00:37:28,399
Speaker 3: Plus it builds grit, you know, like you can't hand

831
00:37:28,480 --> 00:37:30,560
Speaker 3: everything to them that's right on a silver platter, a

832
00:37:30,640 --> 00:37:31,240
Speaker 3: used batman.

833
00:37:31,360 --> 00:37:33,840
Speaker 1: It's like it's grit building. All right. That's gonna be

834
00:37:33,880 --> 00:37:35,959
Speaker 1: it for our Friday flight today. We hope everyone has

835
00:37:36,000 --> 00:37:37,840
Speaker 1: a fantastic weekend.

836
00:37:37,880 --> 00:37:40,359
Speaker 3: We'll see you back here on Monday. Look for show

837
00:37:40,400 --> 00:37:43,520
Speaker 3: notes up on the website at howto money dot com

838
00:37:43,560 --> 00:37:45,200
Speaker 3: and Buddy, that's gonna be it.

839
00:37:45,760 --> 00:37:49,640
Speaker 1: So until next time, best friends Out, Best Friends Out,