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Speaker 1: Welcome to How to Money. I'm Joel, I'm Matt, and

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Speaker 1: today we're talking Trump V two, ghost jobs and insufficient savings.

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Speaker 2: Personally, Joel, I would have said Trump two point zero.

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Speaker 2: That's what everyone's calling it.

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Speaker 1: That's why don't you didn't you out me? I like

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Speaker 1: V two as well.

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Speaker 2: Okay, but uh no, this says our Friday flight, our

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Speaker 2: weekly roundup of the different headlines we've come across this week,

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Speaker 2: and specifically we're going to talk about how they pertain

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Speaker 2: to your money.

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Speaker 1: That's someone else's money. This is all about you. Well,

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Speaker 1: I'm not infallible with my naming conventions. I will say,

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Speaker 1: as you just pointed out, Trump two point h would

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Speaker 1: have been better. Well, I just rolled.

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Speaker 2: Off the tongue. I think I've heard more folks recently

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Speaker 2: talking about it.

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Speaker 1: Well, we'll talk about there have been a flurry, there's

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Speaker 1: been a flurry of activity this week on the political

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Speaker 1: front that does impact your money. We'll get to that

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Speaker 1: in just a second. Matt. I logged into the back

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Speaker 1: end of my mortgage account recently, though, and you know

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Speaker 1: what it said. On the right hand side. They were

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Speaker 1: essentially trying to get me to do a cash out refinance,

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Speaker 1: which would be a terrible idea.

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Speaker 2: Does not surprise me at all because this is a

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Speaker 2: newer mortgage servicer. I'm assuming that purchased your old That's

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Speaker 2: right there, you go, dude, that is what they do.

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Speaker 2: That is the business that they're in. They're all about

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Speaker 2: trying to get you to take on some of these

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Speaker 2: additional loan products that pad their bottom line.

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Speaker 1: And as anybody out there knows, if you've had your

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Speaker 1: mortgage for any length of time, rates have gone up significantly.

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Speaker 1: A cash out ref would put me in a really,

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Speaker 1: really bad financial position. But what it said, like the

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Speaker 1: marketing efforts said, your cash out resolution paid down debt

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Speaker 1: using equity. And they're trying.

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Speaker 2: The new year, new you, that's right messaging and branding.

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Speaker 1: They're trying to get that, hey, why don't you get

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Speaker 1: a lumps on a cash in your life to I

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Speaker 1: don't know, get rid of other crappy debts that might

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Speaker 1: be worse than your mortgage. What a bad idea that

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Speaker 1: would be for basically everyone, right to take a three

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Speaker 1: percent mortgage, turn it into a seven percent mortgage and

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Speaker 1: then yeah, maybe pay down ten thousand dollars worth a

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Speaker 1: credit card debt or something like that. But then you've

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Speaker 1: got that mortgage debt looming for thirty years. The next

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Speaker 1: thirty years, you're probably extending the life of that loan

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Speaker 1: significantly by doing that cash out refine, I mean cashier refis.

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Speaker 1: They just make sense for basically no one.

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Speaker 2: Right, just given the fact that there's a chance that

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Speaker 2: we never go back to these I think some folks

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Speaker 2: are thinking, well, it'll come down at some point. We

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Speaker 2: don't know that that is actually going to happen. It

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Speaker 2: is yet to be determined those predictions. And we talked

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Speaker 2: about this at the time, where you know, real estate

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Speaker 2: agents mortgage brokers were telling people, well, Mary, the house date,

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Speaker 2: the rate, Yeah, it doesn't look like a great suggestion.

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Speaker 1: We set it at the time, and I think we

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Speaker 1: have been proven right, and yeah, will rates could rates

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Speaker 1: potentially go down in the coming years, Maybe maybe, but

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Speaker 1: it's not like totally could. But we don't know that

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Speaker 1: they're going to We don't know, all right, man.

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Speaker 2: We saw a return to the Oval office for President Trump,

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Speaker 2: and I think a lot of folks might be wondering

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Speaker 2: how this might impact our economy as a whole. How

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Speaker 2: is this going to impact your personal finances? That remains

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Speaker 2: to be seen. There's always a whole lot of talk

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Speaker 2: and bluster when it comes to President Trump. There's a

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Speaker 2: litany of things that we can discuss. For instance, the

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Speaker 2: new twenty five percent tariffs against Canada and Mexico that

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Speaker 2: could be implemented as early as next week.

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Speaker 1: In terris.

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Speaker 2: They might serve a geopolitical purpose, but they essentially act

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Speaker 2: as a tax on consumers.

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Speaker 1: And raising the price of everyday goods right, whether it's

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Speaker 1: auto parts, food, the litany of things.

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Speaker 2: It's counter to the free market and the ability for

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Speaker 2: companies to produce goods at the absolute lowest price. And again,

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Speaker 2: I understand it from a geopolitical strategy standpoint, But how

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Speaker 2: this impacts Americans, we will see.

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Speaker 1: How broad those terrorists are. That will also impact how

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Speaker 1: we feel them.

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Speaker 2: But there certainly is a chance that inflation, which has

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Speaker 2: calmed it could potentially be stoked by this policy change.

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Speaker 2: Were executive orders that could have an impact in the

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Speaker 2: coming months, like an attempt to curb building restrictions in

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Speaker 2: order to increase supply. How that actually will work in reality,

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Speaker 2: It's it's gonna be hard to discern.

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Speaker 1: It sounds good on paper, but yeah, well yeah, how

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Speaker 1: well for that, Yeah, because that's what we need.

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Speaker 2: For instance, when it comes to housing, the largest line

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Speaker 2: item on everyone's monthly budget, more supply leads to lower prices.

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Speaker 1: Building codes are often local. So how is some sort

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Speaker 1: of you know, yeah, and which is yeah. Everyone who

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Speaker 1: is a big fan of Trump, of course, is praising

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Speaker 1: the stroke of the pen, the phone call, and the

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Speaker 1: ability to make everyone's lives better here in the States.

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Speaker 1: But Dave Chappelle, he actually said it really well on

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Speaker 1: Saturday Night Live. He said, whether people voted for.

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Speaker 2: You or not, everyone is counting on you good luck,

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Speaker 2: which I appreciate. Always count on Dave Chappelle to inject

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Speaker 2: a little bit of common sense into the discourse of

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Speaker 2: the time.

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Speaker 1: Yeah, I appreciate Dave, and that well said. Right, Well,

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Speaker 1: so we are. We're hoping for the best. We always

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Speaker 1: hope for the best for our presents, whether you've voted

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Speaker 1: for them or not, because we want the best for

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Speaker 1: our country and the three hundred and forty million people

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Speaker 1: inside of it. I'm sure we're gonna have a lot

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Speaker 1: to talk about in the coming months. Matt on the

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Speaker 1: political front and how the political regime change impacts are

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Speaker 1: our finances, because it will, it will have an impact.

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Speaker 2: And hopefully we will pay attention to the headlines that

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Speaker 2: are actually going to matter, Yeah, and the things that

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Speaker 2: are actually going to happen, because I'm sure so many

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Speaker 2: media companies are like, yeah, strops back in office because

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Speaker 2: it gives them something to report on this and like

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Speaker 2: the craziness that oftentimes comes from the.

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Speaker 1: Tweets or truths or whatever it is that Trump is saying,

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Speaker 1: and you and I will attempt to our best to

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Speaker 1: keep it a political and focus on the money stuff. Indeed,

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Speaker 1: one thing we have to discuss is the meme coins

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Speaker 1: that the President and the first Lady launched a head

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Speaker 1: of the inauguration. It was kind of a crazy stunt, right, and.

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Speaker 2: Politics aside, It doesn't matter where you laying on the spectrum.

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Speaker 1: This is ridiculous, and we've kind of trashed meme coins thoroughly,

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Speaker 1: and the cryptocurrency space. We have, i think, given a

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Speaker 1: lot of caution in our assessment of cryptocurrency and what

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Speaker 1: kind of approach normal investors should have towards crypto. And

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Speaker 1: some folks did make money in this kind of mean

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Speaker 1: coin bonanza if they bought early. They bought that Trump

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Speaker 1: coin early, then the cashed out quick. But this is

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Speaker 1: just another reminder that the mean coin space is rife

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Speaker 1: with grift. The majority of people lose money. And it's

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Speaker 1: interesting too, Matt, because the crypto space, I think they

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Speaker 1: were hoping that a Trump presidency would usher in vibes

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Speaker 1: of legitimacy, and there has been a lot of talk about,

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Speaker 1: you know, bitcoin in particular having a national Bitcoin Strategic

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Speaker 1: Reserve or something like that. Is that going to be

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Speaker 1: a boon to some of the more popular, more long

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Speaker 1: standing cryptocurrencies. Maybe if it happens. Yeah, But just this

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Speaker 1: little stunt, I guess hasn't really aided in the legitimacy

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Speaker 1: of crypto. It hasn't started off in a good way.

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Speaker 1: And the takeaway for individuals listening is don't participate in

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Speaker 1: the mean coin insanity no matter w Yeah, and I

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Speaker 1: will say, be ready to lose your shirt if you yeah.

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Speaker 1: And again this is I think this is an a

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Speaker 1: political statement, but this shouldn't be anything new for folks

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Speaker 1: who have like followed what it is that Trump has done,

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Speaker 1: Like this is like typical behavior for him, right, Like

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Speaker 1: more recently, it's like the branded it's the dumb Lee

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Speaker 1: Greenwood bibles that Trump is selling for.

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Speaker 2: How much was he selling this for?

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Speaker 1: I don't six.

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Speaker 2: But then like the sneakers then, but even before he

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Speaker 2: was president, would you look great in those? By the way,

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Speaker 2: even before he was president? Like the like the Trump

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Speaker 2: steaks and the vodka, like this is something that he does.

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Speaker 2: And so on one hand, it's just it's more of

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Speaker 2: the same. I will say, I was shocked to see

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Speaker 2: the pastor that gave one of the benedictions at the

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Speaker 2: end of the inaugural address or whatever, he launched.

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Speaker 1: A meme coin.

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Speaker 2: Oh really, yes, that is incredibly disheartening, Like like that

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Speaker 2: makes me angry. This is like a pastor, someone who's

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Speaker 2: supposed to be forsaking worldly riches in a self sacrificial

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Speaker 2: way to serve other people, and man talk about like

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Speaker 2: that made me really upset when I when I heard that.

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Speaker 2: It just feels so counter to what someone who is

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Speaker 2: in ministry or someone who's a pastor that they should

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Speaker 2: be doing.

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Speaker 1: Does this mean we're canceling the launch of our mean

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Speaker 1: coin that we have planned.

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Speaker 2: No, no, no, we're not ministry.

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Speaker 1: But we can do it. We can do it, Okay.

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Speaker 2: Something else though, that struck me was the mandate for

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Speaker 2: government workers to return to the office. Dude, working from home.

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Speaker 2: So twenty twenty, we're turning to the office rto. That's

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Speaker 2: the name of the game now. And I will say

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Speaker 2: there's evidence that working from home, at least at the

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Speaker 2: federal level hasn't had great results. That is costing the

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Speaker 2: government therefore us as taxpayers billions of dollars.

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Speaker 1: Yeah, there's a report issued kind of towards the end

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Speaker 1: of last year, I think from one of the senator's

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Speaker 1: offices that headlined, you know, just how much less productive

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Speaker 1: certain government agencies and certain individuals have been and just

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Speaker 1: how costly that's become.

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Speaker 2: Yeah, yeah, dude, we're talking especially like given all the

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Speaker 2: office space that is sitting empty, like that's real estate,

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Speaker 2: is incredibly expensive. And similar to the companies who have

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Speaker 2: issued returned to off orders, I think the government they

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Speaker 2: may not be crying you or river if you end

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Speaker 2: up quitting over this. It appears that increased efficiency at

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Speaker 2: the office and a trimm or payroll are simultaneous goals.

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Speaker 2: So we think that the smartest employers out there who

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Speaker 2: are looking to retain top notch talent will offer more

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Speaker 2: of a hybrid or more of a flex approach where

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Speaker 2: they do trust their great employees to do their job

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Speaker 2: wherever they are. But I do think as an employee

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Speaker 2: you might have to make up difficult choice if going

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Speaker 2: back into the office, let's say five days a week,

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Speaker 2: if that's going to be too tough of a pill

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Speaker 2: to swallow. I think eventually it'll settle out somewhere in

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Speaker 2: the middle, because I think there had to be this

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Speaker 2: sort of hard correct right, Like the pendulum swung so

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Speaker 2: far to one side and now I think it's almost

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Speaker 2: having to swing hard in the other direction in order

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Speaker 2: to I don't know for employees, for employers to communicate

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Speaker 2: too employees that they're taking this a bit more seriously,

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Speaker 2: But I think it'll eventually settle somewhere in the middle.

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Speaker 1: And so much depends on the industry, right, and it

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Speaker 1: depends on specific employees too, like how long have they

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Speaker 1: been with the company, how well do they know that

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Speaker 1: ask how well are they able to communicate with people

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Speaker 1: who are also working remotely. But I guess on the

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Speaker 1: flip side of this, this could impact the government's ability

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Speaker 1: to hire some of the top talent if some of

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Speaker 1: that top talent says, yeah, I'm not coming to the

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Speaker 1: office five days a week. I'm not doing that DC

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Speaker 1: hellish DC commute that I'm imagining is pretty rough, depending

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Speaker 1: on where you live and how far your commute is.

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Speaker 1: But I do think that the RTO trend is only

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Speaker 1: going to increase in the coming months, and that's going

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Speaker 1: to impact a lot of how to Money listeners if

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Speaker 1: their employer is kind of keen on pulling that off too,

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Speaker 1: all right, Matt, Something else that everyone might want to

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Speaker 1: consider is rethinking their emergency fund, how much money they

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Speaker 1: have stored up in their high yield savings account. MarketWatch

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Speaker 1: pointed this out that changing economic realities might mean that

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Speaker 1: you don't have enough money saved up in your bank account.

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Speaker 1: You might not have enough liquidity, and instead of the

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Speaker 1: traditional three to six months that is typically recommended, some

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Speaker 1: folks are opting to increase the amount of money they

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Speaker 1: have on hand to nine months or even more. And

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Speaker 1: that is I think a potentially smart move, specifically if

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Speaker 1: your industry or your particular job is less stable, right,

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Speaker 1: So yeah, yeah, if you're in a position that feels

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Speaker 1: a little more precarious, like I would want to have

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Speaker 1: more cash on hand, that seems like a smart move.

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Speaker 1: The average duration of unemployment has actually gone up as well,

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Speaker 1: lasting on average five and a half months, So if

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Speaker 1: you lose your job, you're talking almost six months to

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Speaker 1: get the next one. So yeah, if that's the case,

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Speaker 1: three months certainly doesn't seem like quite enough. I guess

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Speaker 1: I kind of bland somewhere in the middle on this though.

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Speaker 1: Mat I think that telling people to save up nine

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Speaker 1: plus months worth of expenses that can feel a little

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Speaker 1: demoralizing because it's really hard to do and how much

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Speaker 1: you actually need it really does depend on a variety

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Speaker 1: of factors, like are you a two income household, do

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Speaker 1: you have a bare bones budget that you could implement

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Speaker 1: immediately upon the loss of a job, and how much

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Speaker 1: would that actually save you? Because if you're willing to

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Speaker 1: do that, hey, what looks like three months worth the

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Speaker 1: normal expenses could be five months worth of bare bones

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Speaker 1: budget expenses. And ultimately, I think having six months worth

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Speaker 1: of any fund it's better than having three. And some

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Speaker 1: folks might understandably need or want to save even more.

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Speaker 1: And I think if you do experience a job loss,

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Speaker 1: you are going to be thankful that you thought ahead

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Speaker 1: of time, that you were planning, and that you had

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Speaker 1: a little bit extra on hand, that's true.

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Speaker 2: Yeah, And as we talked with Katie North about this

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Speaker 2: past Wednesday about sabbaticals, you might be able to parlay

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Speaker 2: some of those additional funds into a sabbatical where you're

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Speaker 2: being a little more introspective there.

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Speaker 1: Time off losing your job means a severance. If you've

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Speaker 1: got plenty of savings on hand and then three, five,

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Speaker 1: six months worth of severance, it's like set.

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Speaker 2: Yeah, So, okay, the unemployment rate is low, but that

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Speaker 2: doesn't mean that the job market is booming for job

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Speaker 2: seekers out there, or that hunting for a new gig

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Speaker 2: is easy. This is a part of why it takes

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Speaker 2: longer for most average job seekers to find a new gig,

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Speaker 2: and part of the difficulty is navigating a slew of

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Speaker 2: job postings online, many of which are so hiring platform Greenhouse.

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Speaker 2: They just released an analysis of online job listings and

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Speaker 2: they found that one in five are fake listings. And

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Speaker 2: it's not that the listing itself is an actual scam,

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Speaker 2: but that there was never actually any hiring activity for

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Speaker 2: that listed job. And so you might be wondering why

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Speaker 2: a company would do such a thing, Why would they

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Speaker 2: post a position that they don't actually intend to fill.

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Speaker 1: It does seem sailing well.

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Speaker 2: It could be their speculation that could be in an

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Speaker 2: attempt to project growth that's not actually happening. Evidently, some

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Speaker 2: companies are using it as sort of like a fishing

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Speaker 2: line that they keep out permanently in hopes of catching

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Speaker 2: a rare talent.

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Speaker 1: But still, what would like a rare fish be man,

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Speaker 1: if you got a rare fish just leaving that line out.

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Speaker 2: Narwhall, I don't know that's a whale though, right, Yeah,

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Speaker 2: but it doesn't make it any easier for hard to

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Speaker 2: reel that in who are looking for work. It's something

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Speaker 2: to be aware of that you think it's going to

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Speaker 2: be easier than you think. In part, I think because

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Speaker 2: there are so like, oh, everywhere I look, there's a

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Speaker 2: job listing. The Internet makes job hunting easy, right, It

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Speaker 2: makes it look so simple and jobs appear to be plentiful,

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Speaker 2: But that is not the case.

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Speaker 1: Yeah, I think just kind of approving some of those

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Speaker 1: job boards. It's not that you can't find a job online,

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Speaker 1: or that those job listings aren't helpful and can't put

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Speaker 1: you in the right direction, can't get you at least

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Speaker 1: on the right trail in the right scent. But I

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Speaker 1: think it can get your hopes up when you see

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Speaker 1: a position that looks awesome and it looks like it

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Speaker 1: pays well, and then you never hear back upon reaching

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Speaker 1: out or applying. That's just kind of the reality of

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Speaker 1: you have to kind of like cast your net wide

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Speaker 1: on the Internet and you're just hoping for someone to

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Speaker 1: respond on the other end. Seeing that, Matt, you mentioned

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Speaker 1: that these listings are not scams, We'll see that just

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Speaker 1: had a piece about job scams, and they're coming in

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Speaker 1: to folks via text message, like actual job scams. Yeah, yeah, gotcha.

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Speaker 1: These are just fake the ones you talked about. But

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Speaker 1: now we're talking about actual scammy jobs. What's happening in

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Speaker 1: these text messages that the person who's sending you the

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Speaker 1: message pretends to be a recruiter who has a solid

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Speaker 1: work from home job, and hey, maybe your employer just

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Speaker 1: said you got to come back to the office four

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Speaker 1: days a week and you're like, wait, I don't know.

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Speaker 2: Taking me back to twenty twenty, yeah, I like this work.

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Speaker 1: From home job that this person's texting me about. But

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Speaker 1: what they're trying to get you to do is to

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Speaker 1: pay them for like a starter kit. Hey you got

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Speaker 1: this awesome job, but we have to mail you a

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Speaker 1: computer and stuff like that, so you need to send

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Speaker 1: us like seven or eight hundred bucks that's going to

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Speaker 1: get this ball rolling. Well, the truth is, no legitimate

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Speaker 1: employer needs money from you upfront, so be careful, especially

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Speaker 1: if you're getting any text message about employment. It is

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Speaker 1: almost inevitably a scam. Most employers are going to reach

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Speaker 1: out via email, right It's like when the irs a

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Speaker 1: going to text you either, So be careful the medium

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Speaker 1: that's being used. And I think this is also just

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Speaker 1: a good time out to issue a reminder that the

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Speaker 1: majority of jobs come through a good old fashioned networking.

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Speaker 1: It's not that online job hunting is a complete waste

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Speaker 1: of time. Again, I think it can put you on

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Speaker 1: the right sense, but we're still talking about eighty percent,

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Speaker 1: only eighty percent of those listings being legit, and we're

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Speaker 1: talking about the potential for scams as well, So don't

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Speaker 1: neglect the tried and true method that has worked for decades.

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Speaker 1: It really does. So much of the time come down

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Speaker 1: to who you know, keeping that network active, staying in

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Speaker 1: touch with people who might be consequential in your career

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Speaker 1: moving forward.

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Speaker 2: That's right, man, And speaking of networking reminds me a

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Speaker 2: friend of the show, Jordan Harbinger, who always talks about

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Speaker 2: digging the well before you need it, before.

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Speaker 1: You're thirsty, man, before you're thirsty. But we've got more

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Speaker 1: to get to.

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Speaker 2: We're gonna talk about the direction that rents have been

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Speaker 2: trending over the past year.

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Speaker 1: We'll get to that and more right after this. We

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Speaker 1: are back. Now it's time, as always, to get to

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Speaker 1: the ludicrous headline of the week. This one comes from

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Speaker 1: the Washington Post and WAPO. Yeah. Listener Kathy posted this

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Speaker 1: in not a fancy neighborhood, it's a media organization that

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Speaker 1: sound like a fast neighborhood. Listener Kathy posted this in

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Speaker 1: the how to Money Facebook group, and if you're not

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Speaker 1: a member of the how to Money Facebook group, go

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Speaker 1: check it out because twelve thousand plus members helping each

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Speaker 1: other out with their personal finances. But the title of

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Speaker 1: this article was toys are a scam gets right to

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Speaker 1: the point. And maybe we're saying this too late now,

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Speaker 1: like that kind of headlight. Maybe we're covering this after

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Speaker 1: the fact, because Christmas was, after all, about a month ago. Well,

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Speaker 1: I will say.

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Speaker 2: We talked we had a similar story to this prior

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Speaker 2: to like leading up to Christmas. We're giving folks awarding,

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Speaker 2: like give them a little heads up.

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Speaker 1: This is a news to us well, and you and

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Speaker 1: I we talked about like some of the changes we

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Speaker 1: were making to what we were buying our kids this

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Speaker 1: Christmas because of the toy overload. Right, but the gist

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Speaker 1: of this article is that kids ask for toys, we

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Speaker 1: buy them, and then those toys don't get played with

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Speaker 1: very much. Classic and the author they actually make a

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Speaker 1: distinction which I appreciated, between like bikes and games and

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Speaker 1: art supplies versus basically all the other toys out there.

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Speaker 1: And I think even my kids got obsessed for a

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Speaker 1: minute with those surprise toys. It was like a little

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Speaker 1: I mean, it's just plastic crap and then they're they're

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Speaker 1: inside of like a ball or whatever, and you open

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Speaker 1: it up and you have no idea what's going to

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Speaker 1: be inside, but it's one of like four different things.

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Speaker 1: It's like a puppy dog, stuffed animal or something like that. Right,

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Speaker 1: when do you buy these toys? Uh? Target, I guess, Okay,

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Speaker 1: my parents got some of these for of them they

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Speaker 1: kind of fed into the It's more about the thrill

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Speaker 1: of the hunt, right, yeah, exactly, as opposed to like

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Speaker 1: that thing gets tossed aside, it's played with again. So

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Speaker 1: I've been there as a parent, and as much as

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Speaker 1: my kids don't want to hear it, I think there

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Speaker 1: is a lot of truth to the claim that toys

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Speaker 1: are a scam. I think the authors onto something here.

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Speaker 1: My kids have too many toys, and some they play

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Speaker 1: with religiously, but others get used rarely, if ever. And

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Speaker 1: I bet I think actually now is the time to

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Speaker 1: talk about this because my guess is that every parent

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Speaker 1: out there can see this clearly. Right now, Matt, We've

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Speaker 1: got a delivery of a big bookshelf the other day.

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Speaker 1: Oh and do you know how many hours my kids

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Speaker 1: played with the cardboard dude that that the bookshelf came in.

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Speaker 1: It's classic. It's it's amazing. Yeah, Like it's almost like

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Speaker 1: a meme from the nineties or something like that, but

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Speaker 1: like it's so true the fact that even the toys

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Speaker 1: that they receive often it's like, oh, what can we

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Speaker 1: do with this box?

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Speaker 2: Or oh the bubble rap, Like the amount of time

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Speaker 2: my kids play popping the little bubble wrap, which honestly

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Speaker 2: is rare and rare now because normally now it's just

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Speaker 2: like the big air pockets yeah, which sounds like a

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Speaker 2: shotgun going off inside the house, versus like the little yeah,

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Speaker 2: the small ones. But I think a solution could be

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Speaker 2: it's obviously hard to get your kids to want less stuff,

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Speaker 2: but I do think that the ads that they see

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Speaker 2: certainly is going to influence what they want. Like, we

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Speaker 2: are all in a better place now, I think than

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Speaker 2: we were when cable was dominant, Like do you remember

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Speaker 2: the constant stream of toy ads when we were kids?

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Speaker 1: My parents remember it.

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Speaker 2: How would I have ever known about Hungry Hungry hippos

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Speaker 2: if I hadn't seen those kids playing with it on

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Speaker 2: the TV.

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Speaker 1: There are fortunately fewer.

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Speaker 2: Commercials on streaming, and oftentimes it's not for kids toys.

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Speaker 2: It's like for perfume. And we talked about this, how

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Speaker 2: I like change my tune on going with the lower

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Speaker 2: cost streaming plan. Letting like the ability to expose them

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Speaker 2: to advertising something to inoculate them, and for that to

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Speaker 2: be a launching off point for us to have these conversations.

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Speaker 2: And I love too that it's not toys because that

436
00:20:05,000 --> 00:20:06,919
Speaker 2: would honestly be a little bit trickier, as opposed to

437
00:20:07,800 --> 00:20:10,600
Speaker 2: ads that they think are terrible and that they think

438
00:20:10,840 --> 00:20:12,840
Speaker 2: are so dumb, Like when the perfume and the colonna

439
00:20:12,840 --> 00:20:16,080
Speaker 2: ads come on, they like roll their eyes, they make

440
00:20:16,119 --> 00:20:16,720
Speaker 2: barfing noises.

441
00:20:16,920 --> 00:20:18,119
Speaker 1: They are the worst. They're the worst.

442
00:20:18,160 --> 00:20:20,280
Speaker 2: It's like Katie Perry on Mars or something. They're confused

443
00:20:20,320 --> 00:20:22,240
Speaker 2: because they're like, well, how does that? How's that supposed

444
00:20:22,240 --> 00:20:24,520
Speaker 2: to sell a perfume? And it's like, well, you can't

445
00:20:24,680 --> 00:20:27,240
Speaker 2: show a smell, and so they what they're trying to do.

446
00:20:27,200 --> 00:20:29,399
Speaker 1: Is show you that this is creative feeling. Yeah, you

447
00:20:29,400 --> 00:20:31,680
Speaker 1: could be this cool or this is the kind of

448
00:20:31,720 --> 00:20:32,360
Speaker 1: life that you could.

449
00:20:32,760 --> 00:20:34,879
Speaker 2: You would have this many friends and you'd be dancing

450
00:20:34,880 --> 00:20:37,320
Speaker 2: at night and driving in this car, running along this

451
00:20:37,400 --> 00:20:39,000
Speaker 2: beach with the moon. You know, all the things that

452
00:20:39,000 --> 00:20:41,600
Speaker 2: they show. And it's a great way for us to

453
00:20:41,640 --> 00:20:43,960
Speaker 2: have these kind of conversations. But I totally agree it's

454
00:20:44,720 --> 00:20:48,399
Speaker 2: the things that spur creativity in additional things, as opposed

455
00:20:48,440 --> 00:20:50,719
Speaker 2: to the toys being an end in and of themselves.

456
00:20:50,800 --> 00:20:53,000
Speaker 2: Like it makes me think of our my youngest, my son,

457
00:20:53,520 --> 00:20:55,280
Speaker 2: you know what his favorite thing to do is, like

458
00:20:55,359 --> 00:20:57,120
Speaker 2: right now, it's freezing outside, and so we've been reading

459
00:20:57,160 --> 00:20:58,880
Speaker 2: a lot of books. But aside from that, like when

460
00:20:58,880 --> 00:21:01,000
Speaker 2: we go outside, what he loves to do is find

461
00:21:01,040 --> 00:21:03,919
Speaker 2: scraps of wood that the builders, that the framers have

462
00:21:04,080 --> 00:21:06,879
Speaker 2: left all around the house, and he takes those pieces

463
00:21:06,920 --> 00:21:08,840
Speaker 2: of wood. He's got a little wittedly knife and he

464
00:21:08,920 --> 00:21:11,920
Speaker 2: carves them into swords. So he's got the secret stash

465
00:21:11,960 --> 00:21:15,120
Speaker 2: of wooden swords and neighbors daggers.

466
00:21:15,040 --> 00:21:16,560
Speaker 1: Knives and you know what he wants.

467
00:21:16,600 --> 00:21:18,400
Speaker 2: He doesn't want toy see whatts me to like join

468
00:21:18,480 --> 00:21:20,840
Speaker 2: him in this creative world that he's created, Like that

469
00:21:20,920 --> 00:21:21,600
Speaker 2: is so much fun.

470
00:21:22,000 --> 00:21:23,359
Speaker 1: He's not playing with half the stuff.

471
00:21:23,600 --> 00:21:25,479
Speaker 2: Yeah, that we would have gotten for him at Christmas,

472
00:21:25,480 --> 00:21:27,359
Speaker 2: but we actually didn't because we scaled back because we

473
00:21:27,359 --> 00:21:28,240
Speaker 2: did have this conversation.

474
00:21:28,359 --> 00:21:28,960
Speaker 1: Yeah, at a.

475
00:21:28,920 --> 00:21:30,520
Speaker 2: Time when we're like, hey, we're gonna do the switch,

476
00:21:30,720 --> 00:21:31,720
Speaker 2: the Nintendo switch.

477
00:21:31,800 --> 00:21:34,120
Speaker 1: Yes, well, and that's why we talked about this beforehand.

478
00:21:34,119 --> 00:21:36,200
Speaker 1: But it's it's actually worked out really well. Like the

479
00:21:36,600 --> 00:21:39,000
Speaker 1: you and I both got a Nintendo switch for the kids,

480
00:21:39,040 --> 00:21:41,720
Speaker 1: and now they've announced that Nintendo switch too, and I'm

481
00:21:41,800 --> 00:21:43,640
Speaker 1: totally fine with the fact that we'll have the one

482
00:21:43,680 --> 00:21:44,919
Speaker 1: for many years and not be upgrading.

483
00:21:44,960 --> 00:21:46,600
Speaker 2: Well, I think we also knew that it was coming,

484
00:21:46,600 --> 00:21:48,520
Speaker 2: which is why they were on sale. It's a bundle

485
00:21:48,560 --> 00:21:49,359
Speaker 2: with Mario kard.

486
00:21:49,240 --> 00:21:51,520
Speaker 1: Eight, you know well, and that has been kind of

487
00:21:51,520 --> 00:21:53,480
Speaker 1: a fun way to do things together as a family

488
00:21:53,520 --> 00:21:55,520
Speaker 1: to play. It's almost like a board game, a digital

489
00:21:55,600 --> 00:21:57,400
Speaker 1: version of a board game totally, and so it's better

490
00:21:57,480 --> 00:22:01,000
Speaker 1: than watching TV, I think. But we also did that

491
00:22:01,080 --> 00:22:04,239
Speaker 1: in an attempt to not just add a bunch of

492
00:22:04,400 --> 00:22:07,000
Speaker 1: random crap to our to our households, and so the one,

493
00:22:07,240 --> 00:22:10,159
Speaker 1: the bigger present made a big, big difference in you

494
00:22:10,400 --> 00:22:13,920
Speaker 1: in second splash, Yeah, you guys got aerial silks for

495
00:22:14,119 --> 00:22:17,320
Speaker 1: your daughter Evy recently, and you guys have been they've

496
00:22:17,359 --> 00:22:18,440
Speaker 1: been playing on that stuff that.

497
00:22:19,040 --> 00:22:22,000
Speaker 2: Yeah, dude, Well here's what's awesome as well. Talk about

498
00:22:22,000 --> 00:22:23,880
Speaker 2: the teaching kids the value of a dollar. We didn't

499
00:22:23,880 --> 00:22:26,160
Speaker 2: buy that for them. The kids all chipped in together,

500
00:22:26,240 --> 00:22:27,960
Speaker 2: oh really, and we said, hey, you know, by the

501
00:22:27,960 --> 00:22:30,600
Speaker 2: time Christmas rolls around, this is something that we consider

502
00:22:30,640 --> 00:22:33,679
Speaker 2: buying for y'all. But they they wanted it now, and

503
00:22:33,720 --> 00:22:36,280
Speaker 2: so they all they got together and conspired. They didn't conspire,

504
00:22:36,359 --> 00:22:38,280
Speaker 2: but they're like, hey, okay, I'm willing to put this

505
00:22:38,359 --> 00:22:40,560
Speaker 2: much towards it. And so I don't think Westy, I

506
00:22:40,600 --> 00:22:42,240
Speaker 2: don't think he contributed any money.

507
00:22:42,280 --> 00:22:43,920
Speaker 1: But the girls, they all pitched in. I mean he

508
00:22:43,960 --> 00:22:46,239
Speaker 1: doesn't get to use him. Uh, he actually doesn't use him.

509
00:22:47,280 --> 00:22:48,280
Speaker 1: He's not as interested.

510
00:22:48,880 --> 00:22:51,280
Speaker 2: He's like, I don't understand why these pieces of cloth

511
00:22:51,280 --> 00:22:52,800
Speaker 2: hanging from the bailing, why that's.

512
00:22:52,760 --> 00:22:53,320
Speaker 1: So much fun.

513
00:22:53,359 --> 00:22:55,720
Speaker 2: But yeah, when your girls came over, man, they played

514
00:22:55,720 --> 00:22:57,280
Speaker 2: on it for hours, literally for hours.

515
00:22:57,359 --> 00:22:58,040
Speaker 1: It's so much fun.

516
00:22:58,080 --> 00:23:01,560
Speaker 2: And again, it leads to other activity and it just

517
00:23:01,920 --> 00:23:04,240
Speaker 2: leads to a healthier kind of lifestyle as well, you know,

518
00:23:04,920 --> 00:23:07,240
Speaker 2: just like y'all with rock climbing, Like y'all have gotten

519
00:23:07,280 --> 00:23:09,600
Speaker 2: into that more like it's something that leads to something else,

520
00:23:10,119 --> 00:23:12,720
Speaker 2: additional skills, the building of strength and character, you know,

521
00:23:12,760 --> 00:23:14,639
Speaker 2: like all these awesome sort of side effects as opposed

522
00:23:14,640 --> 00:23:16,800
Speaker 2: to just like vegging out and playing.

523
00:23:16,520 --> 00:23:19,800
Speaker 1: With a toy. Yeah. And I think maybe as a society,

524
00:23:19,800 --> 00:23:21,960
Speaker 1: we've kind of made it seem like, oh, you show

525
00:23:21,960 --> 00:23:23,480
Speaker 1: your kids that you love them if you buy them

526
00:23:23,600 --> 00:23:26,640
Speaker 1: plastic stuff. I think it's important for us to push

527
00:23:26,680 --> 00:23:29,040
Speaker 1: back on that. And it's I think it's really important

528
00:23:29,040 --> 00:23:32,479
Speaker 1: to have a well conceived family approach to toy accumulation right,

529
00:23:32,520 --> 00:23:35,480
Speaker 1: and to communicate that in a kind and understandable way

530
00:23:35,480 --> 00:23:37,320
Speaker 1: to your kids so that when the topic comes up,

531
00:23:37,359 --> 00:23:39,920
Speaker 1: they understand because they might see that catalog in the mail,

532
00:23:40,119 --> 00:23:41,879
Speaker 1: point to it, circle stuff in it, and be like,

533
00:23:42,080 --> 00:23:44,600
Speaker 1: I want this giant piece of plastic. And it's not

534
00:23:44,680 --> 00:23:47,800
Speaker 1: that you will never buy them a toy ever, but

535
00:23:48,000 --> 00:23:51,200
Speaker 1: I think kind of having an ethos about how much

536
00:23:51,240 --> 00:23:53,600
Speaker 1: you do allow into your house. One it could save

537
00:23:53,640 --> 00:23:56,000
Speaker 1: you money, but two it can like prevent you from

538
00:23:56,000 --> 00:23:58,199
Speaker 1: pulling your hair out because that stuff gets literally all

539
00:23:58,240 --> 00:23:58,960
Speaker 1: over the floor too.

540
00:23:59,160 --> 00:24:03,639
Speaker 2: Totally okay, Kiosks, Joel, They are becoming the norm for

541
00:24:03,920 --> 00:24:07,080
Speaker 2: ordering food, at least at some fast food chains. I'm

542
00:24:07,080 --> 00:24:10,359
Speaker 2: thinking of McDonald's in particular, Shake Shack. They're actually leaning

543
00:24:10,400 --> 00:24:14,200
Speaker 2: into Kiosk as well. But interestingly enough, it turns out

544
00:24:14,359 --> 00:24:17,560
Speaker 2: it's not about reducing employee headcount in order.

545
00:24:17,400 --> 00:24:19,120
Speaker 1: To save on labor costs.

546
00:24:19,119 --> 00:24:19,239
Speaker 2: All.

547
00:24:19,240 --> 00:24:21,200
Speaker 1: That's the knee jerk reaction people have. It's like, Oh,

548
00:24:21,240 --> 00:24:22,920
Speaker 1: they're just trying to cut cutstaff.

549
00:24:22,920 --> 00:24:27,159
Speaker 2: We're gonna yeah, it's all about the mechanization and robots everywhere. No,

550
00:24:27,280 --> 00:24:29,639
Speaker 2: these restaurants they seem to be keeping all their employees,

551
00:24:29,640 --> 00:24:32,399
Speaker 2: they're just redirecting them to other tasks. The reason that

552
00:24:32,440 --> 00:24:34,560
Speaker 2: the kiosk and the screens are all there is because

553
00:24:34,600 --> 00:24:38,880
Speaker 2: it's about selling you more food. CNN they highlighted the

554
00:24:39,000 --> 00:24:43,240
Speaker 2: upselling that's occurring at these kiosks, and you got you know,

555
00:24:43,359 --> 00:24:46,239
Speaker 2: maybe a minimum wage worker, that person there brand new

556
00:24:46,280 --> 00:24:48,280
Speaker 2: on the job. They might forget to ask you to

557
00:24:48,320 --> 00:24:50,280
Speaker 2: supersize your meal. But guess what, especially if it's a

558
00:24:50,280 --> 00:24:54,480
Speaker 2: long line. That's true a computer, it never forgets. Which

559
00:24:55,240 --> 00:24:57,640
Speaker 2: it kind of surprises me because you think I would

560
00:24:57,680 --> 00:25:00,840
Speaker 2: think a smiling face and get interaction with a guest

561
00:25:00,880 --> 00:25:03,480
Speaker 2: there at the store that might lead to me maybe

562
00:25:03,640 --> 00:25:06,640
Speaker 2: supersizing it. But I guess again, maybe the problem is

563
00:25:06,640 --> 00:25:08,320
Speaker 2: is you got folks you don't care whether or not

564
00:25:08,320 --> 00:25:10,480
Speaker 2: you supersize it. Right, they're just there earning a paycheck,

565
00:25:10,840 --> 00:25:12,440
Speaker 2: and there's a lot of money to be made when

566
00:25:12,440 --> 00:25:14,680
Speaker 2: it comes to some of that upselling that takes place.

567
00:25:14,720 --> 00:25:18,040
Speaker 1: We're not living in those Morgan's Purlock Supersize met days anymore. Matt,

568
00:25:18,480 --> 00:25:21,400
Speaker 1: that still was like the game changing documentary of our time,

569
00:25:21,440 --> 00:25:23,239
Speaker 1: I feel like, but he would go to a lot

570
00:25:23,240 --> 00:25:25,200
Speaker 1: of restaurants and they didn't ask him to supersize.

571
00:25:25,680 --> 00:25:29,960
Speaker 2: Really, the whole documentary was erroneous because of the fact

572
00:25:29,960 --> 00:25:33,439
Speaker 2: that it came out after the fact that he was an.

573
00:25:32,560 --> 00:25:35,600
Speaker 1: Alcoholic when he went into the doctor and he's just like,

574
00:25:35,680 --> 00:25:37,640
Speaker 1: oh my gosh, the toll this has taken on your

575
00:25:37,640 --> 00:25:40,000
Speaker 1: liver and turns out he was like, could have been

576
00:25:40,000 --> 00:25:43,160
Speaker 1: the fifteen Gen and Tonics that's doing that. Yeah, that's right. Well,

577
00:25:43,160 --> 00:25:44,960
Speaker 1: I don't really like those kioski there. I feel like

578
00:25:45,000 --> 00:25:48,040
Speaker 1: they are always takes me a minute to navigate to

579
00:25:48,080 --> 00:25:50,200
Speaker 1: what I'm trying to get. I would rather i'm a

580
00:25:50,240 --> 00:25:52,880
Speaker 1: ult school matter rather order with the actual human being.

581
00:25:53,280 --> 00:25:56,320
Speaker 1: It's just becoming less regular at some of these restaurants.

582
00:25:56,359 --> 00:25:58,359
Speaker 1: But hey, I'm not really going to McDonald's anyway. So,

583
00:25:58,640 --> 00:26:01,000
Speaker 1: but just a word to the wise else out there,

584
00:26:01,080 --> 00:26:03,800
Speaker 1: don't let the computer make you spend more money. While

585
00:26:03,800 --> 00:26:06,479
Speaker 1: we're talking about food and spending money, Americans are tipping

586
00:26:06,600 --> 00:26:09,280
Speaker 1: less than they have in recent years. Prices have yes

587
00:26:09,400 --> 00:26:13,919
Speaker 1: risen significantly, particularly at restaurants, and folks are being less

588
00:26:14,000 --> 00:26:16,919
Speaker 1: generous with their servers because of it, Like as the

589
00:26:16,920 --> 00:26:19,719
Speaker 1: price tag goes up on their meal at whatever, restaurant

590
00:26:19,760 --> 00:26:22,280
Speaker 1: they're eating at. They're saying, hmm, I just don't feel

591
00:26:22,280 --> 00:26:24,679
Speaker 1: like I can tip as much because of that. And

592
00:26:24,720 --> 00:26:27,240
Speaker 1: it's true, yes, eating out is quite expensive. When you

593
00:26:27,240 --> 00:26:30,600
Speaker 1: look at the inflation charts, it's become far more expensive

594
00:26:30,800 --> 00:26:32,880
Speaker 1: than eating out at home. Like the rate of inflation

595
00:26:33,359 --> 00:26:36,200
Speaker 1: on food at the grocery store versus food at restaurants

596
00:26:36,600 --> 00:26:39,919
Speaker 1: has grown, right, so that the prices are climbing faster

597
00:26:40,359 --> 00:26:45,720
Speaker 1: essentially at when you eat out, and that can be frustrating, Right, Matt,

598
00:26:45,760 --> 00:26:47,760
Speaker 1: I think I would personally opt for the European model

599
00:26:47,720 --> 00:26:49,320
Speaker 1: if given a choice, I think you would. I think

600
00:26:49,320 --> 00:26:50,320
Speaker 1: you prefer the tipping model.

601
00:26:50,320 --> 00:26:53,000
Speaker 2: That's a right, Yeah, don't really haven't opinion right now? Okay,

602
00:26:53,560 --> 00:26:55,480
Speaker 2: well it's it's also gotten you want to take the

603
00:26:55,600 --> 00:27:00,840
Speaker 2: Steve Bizemi. Yes, well, it's also it's and more confusing

604
00:27:00,840 --> 00:27:03,919
Speaker 2: as some restaurants have implemented mandatory fees than people are like, well,

605
00:27:03,960 --> 00:27:06,600
Speaker 2: where are those fees going? Is this the tip or

606
00:27:06,680 --> 00:27:09,640
Speaker 2: is this just going to the owners of the restaurant.

607
00:27:10,000 --> 00:27:12,960
Speaker 2: So I think as a consumer it's become more difficult

608
00:27:13,000 --> 00:27:15,080
Speaker 2: to know how much to tip because of some of

609
00:27:15,119 --> 00:27:18,240
Speaker 2: those ancillary fees as well. I think it's important to

610
00:27:18,800 --> 00:27:21,120
Speaker 2: ask right if you see a fee that you don't understand,

611
00:27:21,320 --> 00:27:23,760
Speaker 2: and also to not take your frustration out on your

612
00:27:23,760 --> 00:27:26,520
Speaker 2: server by being a bad tipper. And I think the

613
00:27:26,600 --> 00:27:28,960
Speaker 2: ultimate solution for a lot of people is going to

614
00:27:29,000 --> 00:27:31,120
Speaker 2: be to eat out less so that you can still

615
00:27:31,160 --> 00:27:34,160
Speaker 2: tip reasonably when you do go out. Eating out less

616
00:27:34,200 --> 00:27:35,680
Speaker 2: is obviously going to save you a lot of money

617
00:27:35,720 --> 00:27:39,280
Speaker 2: eating more meals at home, but tipping less, yeah, it

618
00:27:39,359 --> 00:27:41,479
Speaker 2: might be a way to cut down your eating out budget,

619
00:27:41,480 --> 00:27:43,320
Speaker 2: but it's not a good one, that's right. Let's talk

620
00:27:43,320 --> 00:27:45,680
Speaker 2: about housing, Joel. Folks say that one of the best

621
00:27:45,720 --> 00:27:48,560
Speaker 2: things about owning your house as opposed to renting is

622
00:27:48,600 --> 00:27:51,960
Speaker 2: that your payment it stays the same while rents continually increase.

623
00:27:52,640 --> 00:27:55,240
Speaker 2: But that's only kind of true, and it's actually really

624
00:27:55,280 --> 00:27:57,960
Speaker 2: it's not as true as of late. While folks who

625
00:27:57,960 --> 00:28:00,960
Speaker 2: bought between let's say that rate recessions so it lu's

626
00:28:01,080 --> 00:28:03,880
Speaker 2: two thousand and nine up to about twenty twenty three,

627
00:28:04,160 --> 00:28:06,520
Speaker 2: you know, maybe they find themselves in a decent spot.

628
00:28:06,640 --> 00:28:09,879
Speaker 2: The economics of home ownership are changing, even if you

629
00:28:09,960 --> 00:28:12,359
Speaker 2: bought at a good price with a reasonable rate, and

630
00:28:12,400 --> 00:28:16,000
Speaker 2: that's because insurance and taxes have been rising really quickly.

631
00:28:16,400 --> 00:28:19,520
Speaker 2: Today a third of the mortgage payment goes towards those

632
00:28:19,560 --> 00:28:22,800
Speaker 2: two line items, which is a record amount. And for

633
00:28:22,840 --> 00:28:25,600
Speaker 2: almost ten percent of homeowners, they make up more than

634
00:28:25,640 --> 00:28:27,760
Speaker 2: half of your mortgage.

635
00:28:27,400 --> 00:28:28,760
Speaker 1: Pains and crazy, that's insane.

636
00:28:29,080 --> 00:28:31,639
Speaker 2: It means your annual escrow notice is more frightening than

637
00:28:31,640 --> 00:28:34,159
Speaker 2: ever and some homeowners are having a tough time dealing

638
00:28:34,160 --> 00:28:37,840
Speaker 2: with significant payment increases. And so we bring this up

639
00:28:37,880 --> 00:28:41,320
Speaker 2: to highlight that there's no silver bullet here as opposed

640
00:28:41,320 --> 00:28:44,680
Speaker 2: to maybe loosening some building regulations to increase the supply,

641
00:28:45,360 --> 00:28:48,760
Speaker 2: but challenge property tax increases if they are out of line.

642
00:28:48,760 --> 00:28:51,840
Speaker 2: If that's something that you've seen we've mentioned own well before.

643
00:28:52,040 --> 00:28:55,920
Speaker 2: More of an automated service. They take a cut of

644
00:28:55,960 --> 00:28:59,440
Speaker 2: the amount that they're able to reduce your property tax increase. Yeah,

645
00:28:59,480 --> 00:29:01,320
Speaker 2: but only they succeeds. So if they fail, you don't

646
00:29:01,320 --> 00:29:04,040
Speaker 2: pay them. They don't pay money upfront. Shop around for

647
00:29:04,080 --> 00:29:07,120
Speaker 2: your homeowners insurance and I think this used to be

648
00:29:07,160 --> 00:29:09,040
Speaker 2: something that maybe was a little bit more of like

649
00:29:09,080 --> 00:29:12,239
Speaker 2: a cheap guy or a frugal guy thing to do.

650
00:29:12,360 --> 00:29:15,920
Speaker 2: But like self insure more, raise your your deductible so

651
00:29:16,000 --> 00:29:19,200
Speaker 2: that you're not as reliant on your insurance when something

652
00:29:19,200 --> 00:29:21,560
Speaker 2: happens to your house, because you're gonna save money immediately

653
00:29:21,840 --> 00:29:24,320
Speaker 2: now because you're gonna see your premiums decrease when you

654
00:29:24,400 --> 00:29:28,120
Speaker 2: increase your deductible. But over time, because you are less

655
00:29:28,120 --> 00:29:30,240
Speaker 2: reliant on your insurance, it means you're less likely to

656
00:29:30,360 --> 00:29:32,520
Speaker 2: use it, which means you're not gonna get booted, not

657
00:29:32,560 --> 00:29:35,280
Speaker 2: booted off your insurance, but they're not gonna ejacuorrates up

658
00:29:35,280 --> 00:29:37,040
Speaker 2: to sky high levels. Yeah.

659
00:29:37,160 --> 00:29:40,440
Speaker 1: Yeah, And I think part of the reason that we've

660
00:29:40,480 --> 00:29:43,239
Speaker 1: seen increases to the extent that we have is just

661
00:29:43,320 --> 00:29:46,240
Speaker 1: inflation in general, right, rising home prices, rising costs of

662
00:29:46,600 --> 00:29:49,360
Speaker 1: building like that means that if something does happen in

663
00:29:49,400 --> 00:29:51,400
Speaker 1: your home, the insurance going to be out more money,

664
00:29:51,440 --> 00:29:54,000
Speaker 1: so hey, they've got to cover that in premium increases.

665
00:29:54,040 --> 00:29:56,720
Speaker 1: But it's also natural disasters in parts of the country,

666
00:29:56,800 --> 00:30:00,600
Speaker 1: and particularly thinking about places like Florida and California, But

667
00:30:00,640 --> 00:30:03,000
Speaker 1: that impacts people not just in those states, but really

668
00:30:03,040 --> 00:30:06,400
Speaker 1: across the country. As insurers sometimes disperse the pain a

669
00:30:06,440 --> 00:30:08,960
Speaker 1: little more widely, it's become really tough out there for

670
00:30:09,200 --> 00:30:12,760
Speaker 1: homeowners from an insurance expense in the last couple of

671
00:30:12,800 --> 00:30:15,840
Speaker 1: years in particular, and not to go back to the

672
00:30:15,880 --> 00:30:18,360
Speaker 1: well on this too much, Matt, but home ownership is

673
00:30:18,400 --> 00:30:20,640
Speaker 1: often seen as the number one way to build wealth. Like,

674
00:30:20,640 --> 00:30:22,760
Speaker 1: there are a lot of people out there who truly

675
00:30:22,800 --> 00:30:26,959
Speaker 1: believe that owning a home is their best way to

676
00:30:27,000 --> 00:30:30,160
Speaker 1: achieve the American dream and to be able to retire successfully.

677
00:30:30,640 --> 00:30:33,600
Speaker 1: And when you look at the numbers, it does kind

678
00:30:33,600 --> 00:30:35,680
Speaker 1: of sort of look like that, right, that owning the

679
00:30:35,720 --> 00:30:40,200
Speaker 1: home is what contributes to more greater levels of financial independence.

680
00:30:40,240 --> 00:30:43,440
Speaker 1: Homeowners do have a much greater net worth than renters.

681
00:30:43,800 --> 00:30:46,160
Speaker 1: But it's really just not that simple, right when it

682
00:30:46,200 --> 00:30:48,640
Speaker 1: comes down to it, home ownership is not the key

683
00:30:48,760 --> 00:30:52,800
Speaker 1: to building wealth. Investing in general is, which, in part

684
00:30:52,880 --> 00:30:55,280
Speaker 1: having a mortgage payment forces you to do. It's like,

685
00:30:55,480 --> 00:30:57,800
Speaker 1: you know, it's that forced method of saving yah. Yeah, yeah,

686
00:30:57,800 --> 00:31:00,880
Speaker 1: But if you had taken the additional money and invested instead,

687
00:31:01,080 --> 00:31:03,240
Speaker 1: you might have come out ahead over the years. Better

688
00:31:03,280 --> 00:31:06,680
Speaker 1: investments out there, for sure. Yeah. But case in point here,

689
00:31:06,680 --> 00:31:09,320
Speaker 1: I think this actually kind of highlights the fact that

690
00:31:09,520 --> 00:31:11,720
Speaker 1: renting might make more sense than buying for a lot

691
00:31:11,720 --> 00:31:15,520
Speaker 1: of people. Rents are actually down over the past twelve months.

692
00:31:16,240 --> 00:31:18,680
Speaker 1: Most people think again. Rents go up year after year,

693
00:31:18,680 --> 00:31:21,000
Speaker 1: and especially during COVID and stuff like that, it felt

694
00:31:21,000 --> 00:31:23,280
Speaker 1: like rents were going up at an insane pace because

695
00:31:23,320 --> 00:31:27,760
Speaker 1: they were. Well, that has not just slowed down, but

696
00:31:27,800 --> 00:31:30,880
Speaker 1: rent growth is actually declining. So you might have to

697
00:31:30,960 --> 00:31:33,120
Speaker 1: be able to get a better deal on the apartment

698
00:31:33,200 --> 00:31:36,200
Speaker 1: or the home that you're renting next month or next year.

699
00:31:36,560 --> 00:31:39,400
Speaker 1: And you know, buying can be a solid personal decision

700
00:31:39,440 --> 00:31:42,200
Speaker 1: and a reasonable financial one if that's what you're into.

701
00:31:42,640 --> 00:31:45,600
Speaker 1: It has provided outsize gains at certain points in time,

702
00:31:46,080 --> 00:31:47,720
Speaker 1: but you got to contend with the trade offs of

703
00:31:47,720 --> 00:31:51,040
Speaker 1: home ownership as well. Home maintenance, for instance, Matt averages

704
00:31:51,080 --> 00:31:53,640
Speaker 1: something like five hundred dollars a month. According to Zillo,

705
00:31:54,240 --> 00:31:56,680
Speaker 1: you got to contend with all the costs of home

706
00:31:56,720 --> 00:32:00,800
Speaker 1: ownership before taking the plunge. Insurance, right, maintenance, taxes, all

707
00:32:00,840 --> 00:32:05,120
Speaker 1: that stuff all skyrocket and quickly impacting homeowners Printing might

708
00:32:05,160 --> 00:32:07,320
Speaker 1: not seem quite as bad when you take all those

709
00:32:07,600 --> 00:32:11,560
Speaker 1: costs into account, and you'll have more financial flexibility and

710
00:32:11,640 --> 00:32:13,320
Speaker 1: room to invest if you wait a little longer. I

711
00:32:13,320 --> 00:32:16,520
Speaker 1: don't want to like dissuade everyone and say homeownership bad,

712
00:32:16,600 --> 00:32:19,160
Speaker 1: don't do it, but it's just not as simple as

713
00:32:19,200 --> 00:32:20,760
Speaker 1: a lot of people have made it out to be either.

714
00:32:20,920 --> 00:32:21,560
Speaker 1: That's true.

715
00:32:21,680 --> 00:32:23,360
Speaker 2: Yeah, and you can especially get a deal if you

716
00:32:23,400 --> 00:32:26,000
Speaker 2: are looking at an apartment which has seen the largest

717
00:32:26,040 --> 00:32:29,120
Speaker 2: declines over the past twelve months. We've had a flurry

718
00:32:29,160 --> 00:32:31,160
Speaker 2: of newsletter sign ups Joel and so we want to

719
00:32:31,200 --> 00:32:34,200
Speaker 2: give a quick referral shout out to Joanna V as

720
00:32:34,280 --> 00:32:37,920
Speaker 2: well as h Whitworth for recommending the how To Money

721
00:32:37,920 --> 00:32:41,640
Speaker 2: newsletter to a bunch of their friends. And you can

722
00:32:41,640 --> 00:32:44,239
Speaker 2: find the how to Money newsletter over at housemoney dot

723
00:32:44,280 --> 00:32:48,320
Speaker 2: com for slash that's right, you guessed it newsletter. But

724
00:32:48,400 --> 00:32:49,880
Speaker 2: we will see you back here on Monday with a

725
00:32:49,920 --> 00:32:52,080
Speaker 2: fresh ask how to Money episode, and we hope that

726
00:32:52,080 --> 00:32:54,040
Speaker 2: everyone has a fantastic weekend.

727
00:32:54,080 --> 00:32:54,400
Speaker 1: Buddy.

728
00:32:54,600 --> 00:32:57,560
Speaker 2: Until next time, best friends Out, Best Friends Out.

729
00:33:00,600 --> 00:33:03,880
Speaker 1: The