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

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Speaker 1: and today we're discussing dying destitute, why you should spend

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Speaker 1: all your money before you die. This is the kind

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Speaker 1: of episode that I think when folks saw the title

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Speaker 1: and they heard you say it, they probably were abscratched

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Speaker 1: their head a little bit and they're saying, wait, dying destitute?

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Speaker 1: Was that? What does that mean? Dye in the poorhouse

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Speaker 1: necessarily right? That's not your idea of a good time

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Speaker 1: in the eighties. No, and that's that's true. I'm going

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Speaker 1: to start this one off with a quote because Andrew Carnegie,

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Speaker 1: the great steel baron of from many hundreds of years

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Speaker 1: ago at this point, he had a quote and he

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Speaker 1: said that if you die rich, you die disgrace. That's

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Speaker 1: the way. He only died a hundred years ago. Okay,

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Speaker 1: nineteen nineteen years againstror, But there is a lot to

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Speaker 1: be said about that quote. If you die rich, you

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Speaker 1: die disgraced. There are several other folks who have sort

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Speaker 1: of taken up that banner. They've taken up that call

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Speaker 1: to talk about this, how maybe we shouldn't be amassing

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Speaker 1: these great fortunes only to you know, pass them on

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Speaker 1: to our airs. Whatever it is that you choose to

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Speaker 1: do with that money, and so that to die and

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Speaker 1: basically leave the money earmarks for something when you didn't

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Speaker 1: get to see the benefactor. So that actually is what

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Speaker 1: we're gonna talk about today. That is our argument. We're

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Speaker 1: going to talk about why it is maybe you should

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Speaker 1: consider dyeing destitute and actually not actually destitute and went

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Speaker 1: into the finer points. You should be able to cover

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Speaker 1: the bare necessities of life. Maybe by the time you

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Speaker 1: are reaching your later years, those simple bare necessities. That's

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Speaker 1: like like beer, yes, but that is what we're gonna

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Speaker 1: talk about, beer necessies. I like that. Well, yeah, before

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Speaker 1: we get to that, man, I want to mention one

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Speaker 1: quick thing. And I just found out about this the

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Speaker 1: other day one of one of our mutual friends. They

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Speaker 1: run a nonprofit that we like to financially support from

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Speaker 1: time it's time and when we give via their website.

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Speaker 1: If I give you a credit card, I'm going to

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Speaker 1: be charged like a three percent transaction fee, which means

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Speaker 1: you're always running the figure is like, we're going to

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Speaker 1: get it. No, it's not worth it, not worth it.

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Speaker 1: It's almost never worth it unless you're like at the

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Speaker 1: last ditch effort to meet that minimum spend threshold to

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Speaker 1: get a bonus, because almost never to the rewards outweigh

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Speaker 1: the cost of that fee exactly. But and I'm not

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Speaker 1: sure if this is always going to be the case

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Speaker 1: or or if it's just like a limited time thing,

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Speaker 1: but some nonprofits take donations via Facebook, and Facebook, at

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Speaker 1: least for the time being, covers all the transaction fees

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Speaker 1: if you donate it with a credit card. And so

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Speaker 1: I was like, there's no additional charge, no additional charge

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Speaker 1: at all, and not when when you told me this,

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Speaker 1: it kind of blew my mind. I was like, wait what.

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Speaker 1: And oftentimes when you see that, what's happening is there's

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Speaker 1: a charge for the nonprofit that you're donating to, so

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Speaker 1: they have to eat some of that, which sucks, Like

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Speaker 1: you don't want to do that either. You don't want

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Speaker 1: to stick them with the bill. But sometimes they put

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Speaker 1: it out there and they let you know that the

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Speaker 1: group that we're talking about, I forget the name of

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Speaker 1: the organization that they like. It's like cheese, I think no,

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Speaker 1: I think it's called give butter Butter. Yeah, close enough,

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Speaker 1: that's right, But it's slick it's a great way to donate. Yeah,

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Speaker 1: they can, and they'll ask you just saying, hey, do

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Speaker 1: you also want to cover the you know, the fee

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Speaker 1: associated with us. That way, we're receiving all of the money.

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Speaker 1: If not, they're not getting the full amount of your donation.

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Speaker 1: But in this case, if you want the best of

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Speaker 1: both worlds, you dontate via Facebook. You get to donate

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Speaker 1: with a credit card, obviously paying it off on time

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Speaker 1: and infu at the end of the month. So telling

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Speaker 1: you to finance your charity, no, don't finance your charity,

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Speaker 1: but but at least donate and get a little perk

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Speaker 1: on top of it, which is gets get those points,

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Speaker 1: get that cash back. But well, so I'll link to

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Speaker 1: the like we're Facebook outlines how it is that they

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Speaker 1: don't charge folks, and because they do charge if you

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Speaker 1: have a personal fundraiser and so say you're like, broke

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Speaker 1: my leg whatever helped me to like go fund me style, Yeah, exactly,

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Speaker 1: so they'll take a percentage of that, different amounts depending

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Speaker 1: on whatever country you live in. But when it comes

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Speaker 1: to actual nonprofits, it is uper cool that they don't

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Speaker 1: charge anything. And so the bigger question is why are

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Speaker 1: they doing it, and of course it's just to get

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Speaker 1: more people to uh spend time on the platform, get it,

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Speaker 1: get used to it, get used to the meta, and

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Speaker 1: then at some point they'll probably start charging. But I

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Speaker 1: will say, if your favorite nonprofit accept donations via Facebook,

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Speaker 1: this is this is a great thing. And if they don't,

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Speaker 1: maybe you want to be like, hey, exactly, I just

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Speaker 1: I actually reached out to a friend. I was just like, hey, man,

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Speaker 1: did you know that this was the case. Maybe it's

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Speaker 1: time to start accepting donations via Facebook. And he's like, well,

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Speaker 1: I'm not sure if it's gonna be worth our time.

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Speaker 1: And you're like, I'll know, nim grand And he's like, okay,

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Speaker 1: please set it up because that I can run my

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Speaker 1: giving through Facebook. I would appreciate that, but of course

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Speaker 1: it's up to the individual organization. But I think that's

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Speaker 1: a great little tip. Glad that I saw that. I

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Speaker 1: was thrilled. Yeah, like, I'm making an extra like eighty

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Speaker 1: bucks on this donation and like, without without having to

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Speaker 1: do anything extra looks more like two forty if you're

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Speaker 1: using that towards flights. Yeah, that's true. That's good. Yeah,

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Speaker 1: And by the way, again, we have our new credit

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Speaker 1: card tool up on the site and how the Money

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Speaker 1: dot Com credit Cards, So it's just literally up there

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Speaker 1: the top right hand corner of the homepage, and it

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Speaker 1: will hopefully make helping you find the best credit card

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Speaker 1: for you super simple, super easy, based on the benefits

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Speaker 1: you're looking for, based on the parks that you're wanting

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Speaker 1: more than your life. Yeah, that's how the Money dot

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Speaker 1: Com forward slash credit cards. Yep. Alright, let's move on.

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Speaker 1: Let's mention the beer we're having on this episode. This

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Speaker 1: is Raspberry Blush by McKellar brewing the can art as

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Speaker 1: always with the McKellar beer is dope, and we'll give

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Speaker 1: our thoughts on the actual liquid inside the can at

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Speaker 1: the end of the episode. But for now, let's talk

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Speaker 1: about dying destitute. Matt. Let's let's do it. Let's by destitute,

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Speaker 1: Let's do it. We're blood packed right now. Honestly, I

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Speaker 1: am way closer to doing that in reality than before.

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Speaker 1: We did a bunch of reading and we're preparing for

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Speaker 1: this episode. No, I truly am closer to that point

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Speaker 1: of view than ever before. Exactly. I think same here.

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Speaker 1: I think there's a lot of wisdom in that Carnegie

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Speaker 1: quote that you mentioned earlier, and just kind of as

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Speaker 1: we've thought about this, it makes sense to try. You

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Speaker 1: don't want to necessarily die with a ton of money

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Speaker 1: in your bank account, in your investment account. And Matt,

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Speaker 1: I'm not I'm not a woodworker, as you know, but

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Speaker 1: we we've all heard the phrase measure twice, cut once.

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Speaker 1: It makes a lot of sense, right because if if

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Speaker 1: you're off on your measurements, just by a little bit,

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Speaker 1: you can easily ruin the piece of wood or furniture

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Speaker 1: that you're working on. And let's say you maybe accidentally

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Speaker 1: because the only measured once you lop off six inches

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Speaker 1: from a table leg when you should have trimmed six centimeters,

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Speaker 1: that table is gonna be bobbly, right. And so yeah,

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Speaker 1: I'm no Ron Swanson or anything like that. I don't

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Speaker 1: have a dope mustache, uh and and and speak completely

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Speaker 1: in libertarian sayings or anything like that, but I think

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Speaker 1: it's analogy holds and many of us are measuring our lives,

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Speaker 1: we would say, with the wrong measuring sticks, which which

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Speaker 1: is leading the skewed results. And this episode is going

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Speaker 1: to be all about the personal and practical ways to

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Speaker 1: think about the accumulation of and spending of your money.

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Speaker 1: Because yeah, somehow, the money listeners, you might be living

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Speaker 1: too fruently right, focusing too much on optimizing every cent

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Speaker 1: for long term success to to be able to see

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Speaker 1: outsize returns over time, whereas other listeners might find themselves

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Speaker 1: with a need right now to ramp up their savings

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Speaker 1: and their investing habits. But no matter where you are

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Speaker 1: on that spectrum, hopefully this episode can help you find

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Speaker 1: the right measuring device. And so this episode is going

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Speaker 1: to point to what that right measuring device is that

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Speaker 1: you're using your money most effectively in the here and now,

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Speaker 1: and and as you get older too. Yeah, and you know,

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Speaker 1: at the end of the day, like this is a

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Speaker 1: personal finance show, right, Like every single week we talk

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Speaker 1: about either earning more money, increasing our savings, or investing

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Speaker 1: wisely in a way that is gonna do the the

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Speaker 1: highest returns down the road. The best part about talking

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Speaker 1: about money day in and day out is the fact

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Speaker 1: that it's something that we can easily measure. And so

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Speaker 1: if you're listening, you know how much money it's going

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Speaker 1: to cost you to to fill up your gas tank,

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Speaker 1: Like you know what your salary is. You've probably got

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Speaker 1: at least a general idea of how much money you've

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Speaker 1: got statue away in your retirement accounts. But this is

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Speaker 1: where money how it's sort of a blessing and a

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Speaker 1: curse because it's a blessing because it's quantifiable, and so

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Speaker 1: that makes it easier to make changes where necessary where

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Speaker 1: you're wanting to see some improvements when it comes to

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Speaker 1: your money. But it's also a curse because if you

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Speaker 1: are overly focused on this upward trajectory of your account balance,

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Speaker 1: if if your life statisfaction, if it's purely determined by

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Speaker 1: how much you've gotten the bank, or you know, even

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Speaker 1: if a bear market, if it gets you down, well,

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Speaker 1: if that's the case, we would argue that you are

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Speaker 1: incorrectly using money as the main measurement in your life.

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Speaker 1: And so this is coming from the two personal finance guys.

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Speaker 1: You know, and uh, you've got to be careful, ask

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Speaker 1: you how much power you grant that thing in your life.

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Speaker 1: And it can be easy to become for all of

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Speaker 1: us to become overly focused on our money. Yeah, you

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Speaker 1: can start to look at everything through the lens of money,

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Speaker 1: much to the detriment of other things in your life.

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Speaker 1: And that wouldn't be good right now, but but it

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Speaker 1: can be difficult, I would say to to pull out

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Speaker 1: of this way of thinking too. Let's say you have

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Speaker 1: started to use money as the filter for what you're

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Speaker 1: seeing most of your major life decisions. It's it's hard

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Speaker 1: to shift gears and switch to a way of reasoning

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Speaker 1: and liveing where you're less focused on accumulating more or

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Speaker 1: increasing your frugality to the extreme right, when instead you

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Speaker 1: should be focusing maybe on ways to spend your money

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Speaker 1: in ways that bring the most value. Like it is

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Speaker 1: hard for people to make that transition, especially the longer

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Speaker 1: you've been doing it. From let's say, a lifetime of

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Speaker 1: building up solid savings habits and and living fairly frugally

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Speaker 1: to then feeling free enough to spend your money towards

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Speaker 1: things that you value and you know whether your personal

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Speaker 1: habits skew more towards investing like a crazy person with

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Speaker 1: an inability to spend our part with the money you've saved,

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Speaker 1: or buying stuff just because Instagram said that you should.

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Speaker 1: We've all got to be reminded of the truth that

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Speaker 1: money is just a tool, right. It's an important one,

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Speaker 1: of course, one of the most important ones out there.

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Speaker 1: But there are lots of things in life that are

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Speaker 1: more important than money, and we have to keep that

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Speaker 1: framework in mind even as we're trying to get better

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Speaker 1: with our money, trying to save more of it. Exactly.

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Speaker 1: And by the way, this episode is for everyone out there. Uh,

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Speaker 1: this isn't just an episode for those who are further

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Speaker 1: down the road, for those who are maybe looking to

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Speaker 1: retire in the next you know, several years, because this

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Speaker 1: is a question that we need to be asking ourselves

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Speaker 1: all throughout our lives, not just at the tail end.

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Speaker 1: This makes me think of our episode with West Moss

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Speaker 1: about the habits of healthy retirees, and because he found

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Speaker 1: the happiest ones had meaningful hobbies that they were engaged

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Speaker 1: in throughout their lives, they were able to dedicate more

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Speaker 1: of their time to their favorite pursuits when they quit work.

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Speaker 1: But folks who were just hoping to find meaning within retirement,

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Speaker 1: like once they arrived at that point, but who hadn't

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Speaker 1: done any work towards that goal during their working years,

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Speaker 1: they typically had a much harder transition into retirement. So

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Speaker 1: we bring this up because picking up hobbies, developing relationships,

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Speaker 1: it's a whole lot easier to continue at that age

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Speaker 1: than it is to start. It's easy for us to

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Speaker 1: kind of fall into the same old ruts that we

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Speaker 1: started when we were younger. Right, Like, you might be

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Speaker 1: twenty five years old and you're thinking, I got plenty

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Speaker 1: of time to change my ways. But the habits that

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Speaker 1: we get into at an early stage in our lives,

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Speaker 1: we're pretty big believers that it's that we continue down

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Speaker 1: that path. These are behaviors that we perpetuate. Uh, And

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Speaker 1: it can be more difficult than you think to break

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Speaker 1: some of these habits after a few years of professional life. Yeah,

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Speaker 1: and it just, yeah, it becomes more difficult to get

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Speaker 1: them to to start those habits the older you get.

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Speaker 1: The let's say you want to exercise, So it's a

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Speaker 1: whole lot easier to start at twenty five before like

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Speaker 1: you've gotten ridiculously out of shape than to start when

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Speaker 1: you're forty five and you've kind of been used to

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Speaker 1: becoming being like a couch potato or something of them. Right.

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Speaker 1: It's just the effort that it takes is that much

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Speaker 1: more and that's why starting those habits earlier is so powerful.

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Speaker 1: But yeah, just in case you need some more convincing

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Speaker 1: that this is an important thing to talk about. Let's

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Speaker 1: touch on some of the reasons to start addressing the

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Speaker 1: question of spending all your money before you die, And

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Speaker 1: the first one we need to talk about is that

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Speaker 1: you don't know how long you're going to live, unless

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Speaker 1: maybe that psychic down the street was right after all

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Speaker 1: when they read your tarot cards, although that's unlikely. But yeah,

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Speaker 1: the truth is, any of us could get hit by

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Speaker 1: a bus tomorrow, right you could. You could work your

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Speaker 1: butt off, hit all your financial goals, only to find

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Speaker 1: that you croak the day you've accomplished them. And I

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Speaker 1: promised this episode is not meant to be discouraging. We're

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Speaker 1: just trying to look at the reality of the hand

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Speaker 1: that we've all been dealt, and the hand that we've

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Speaker 1: all been dealt is certain death at some point in

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Speaker 1: the future. None of us knows how long we're gonna live,

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Speaker 1: and it's an important part of the equation for how

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Speaker 1: we think about the spending, saving, and investing conundrum, because

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Speaker 1: if we're putting too much effort in one of those baskets,

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Speaker 1: we might be short changing ourselves with the assumption that

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Speaker 1: we're gonna live till the ripe old age of five

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Speaker 1: without having the actual knowledge that that's gonna happen. Yeah,

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Speaker 1: and you know, additionally, like who knows what kind of

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Speaker 1: health that we're gonna have? Um, and not just fifty

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Speaker 1: years down the road from now, but even like five

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Speaker 1: years from now, for example, none of us assumed we

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Speaker 1: would experience a global pandemics. Wasn't on my radar, lost

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Speaker 1: close friends, relatives, even parents. But even without a pandemic,

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Speaker 1: you know, we are face with just these the different

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Speaker 1: this potential array of different health issues that we might face,

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Speaker 1: many of which we can't control. Granted, eating healthy, exercising,

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Speaker 1: these are all things that can help. But even those

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Speaker 1: two necessities don't prevent just a slew of crappy health

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Speaker 1: possibilities that that might occur down the road. Makes me

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Speaker 1: think of a Community episode where Jeff Winger was like,

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Speaker 1: refuses to eat a donut, even like he won't, he

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Speaker 1: won't straight at all from his healthy habits, but then

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Speaker 1: something happens that he can't control health wise, and he's like,

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Speaker 1: I think he maybe had to get a colonoscopy or

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Speaker 1: something without I forget and realizing that like all these

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Speaker 1: things could kill him, so why not at least occasionally

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Speaker 1: eat the doughnut just like throws the towel in. It's

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Speaker 1: like and not all the way right like, but he's like, okay, cool,

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Speaker 1: I now realize I'm not in complete full control over

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Speaker 1: what happens to me, even though I'm trying to make

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Speaker 1: hy step. It's a good lesson to learn it. Like

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Speaker 1: so in Parks and rec Chris what's his name, like

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Speaker 1: Chris Pratt, not Chris Pratt, like the character like literally,

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Speaker 1: but character trigger christ Fred Trigger. He had a similar

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Speaker 1: I don't know, it's it's a nice character maybe to

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Speaker 1: include sitcoms, but I remember him talking about like he's

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Speaker 1: like I can't catch a cold. I've finally tuned body.

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Speaker 1: And in a similar way, there are things that are

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Speaker 1: out of our control. As much as we would like

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Speaker 1: to think that we have complete control over the health

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Speaker 1: outcomes in our life, yeah, for sure. And just one

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Speaker 1: more thing that we just don't have as much control

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Speaker 1: of as we'd like to think is our relationships. And

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Speaker 1: it's it's worth considering because when we're talking about how

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Speaker 1: to think about your money, well, the people who are

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Speaker 1: in your life, you're not promised tomorrow with them either.

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Speaker 1: So who knows which people are gonna have around and

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Speaker 1: for how long. And it reminds me of this quote,

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Speaker 1: Matt from Dion Sanders, legendary baseball and NFL player, and

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Speaker 1: he said, some friends are for a reason, summer for

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Speaker 1: a season and summer for forever. And I realized that

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Speaker 1: this is actually a terrible quote. Um, but I still

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Speaker 1: love it for some reason. It's it's stuck with me

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Speaker 1: for a long time. That's a good quote. It's okay,

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Speaker 1: it's a but you like it. Well, it's just it's

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Speaker 1: just kind of goofy sounding. But yeah, but it's also

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Speaker 1: it's very nineties sounding. That's that's the true Like it's

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Speaker 1: it came from Neon di Man. He was a man

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Speaker 1: of the nineties. For a reason. It's like for business reasons.

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Speaker 1: There's things that we're trying to achieve. Some for a season,

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Speaker 1: there's shorter periods. But yeah, then there's some friends who

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Speaker 1: we keep around forever. Well, none of us are promised

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Speaker 1: that quote. None of us are promised tomorrow, and our

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Speaker 1: our friendships aren't aren't promised to be around for years

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Speaker 1: to come either, Which has best friends? Matt, I sure

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Speaker 1: hope we're around, um for a lot longer fingers crossed together,

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Speaker 1: my friend. But yeah, does that reframe maybe how you

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Speaker 1: think about you know, where you choose to live or

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Speaker 1: whether you buy a plane ticket to head home for

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Speaker 1: the holidays. That should at least be a meaningful factor.

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Speaker 1: So we're talking about when we're talking about spending, well,

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Speaker 1: spending money on relationships not knowing how long let's say

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Speaker 1: you're aging parents are going to be around. Uh, then

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Speaker 1: it might impact how you allocate the dollars for your budgets,

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Speaker 1: and it might influence you to spend more now as

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Speaker 1: opposed to like saving and investing that money for the future,

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Speaker 1: realizing that those relationships won't be there in perpect to exactly.

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Speaker 1: But just like the Jeff Winger character in Community, you

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Speaker 1: don't throw in the towel, right, Like, this doesn't mean

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Speaker 1: that you are thinking, Okay, I might die tomorrow, so yolo,

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Speaker 1: I'm going to spend all of the money I have

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Speaker 1: because well, in reality, you might not die tomorrow. All right,

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Speaker 1: I'm gonna start eating a dozen donuts every single morning

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Speaker 1: just because like I'm not promised tomorrow. Like, you don't

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Speaker 1: go all the way to that to that extreme. Yeah,

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Speaker 1: it wouldn't do him good were he to do that?

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Speaker 1: And so that's the difficult question, right, like where is

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Speaker 1: it that we draw the line? And interestingly enough, that's

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Speaker 1: actually what we want to get to right after this break,

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Speaker 1: we're gonna talk through how it is for you to

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Speaker 1: decide what it is that you are going to spend

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Speaker 1: your money on. We'll get to that right after this.

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Speaker 1: All right, Matt, let's keep let's keep going. Let's talk

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Speaker 1: about dying destitutes and which I think is a great

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Speaker 1: a great name. It's I don't know, it creates like

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Speaker 1: a visceral image in your mind that maybe all right, listen,

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Speaker 1: I've got zero opening to my name now on my

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Speaker 1: deathbed and dying happy, well, I don't know if dying

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Speaker 1: destitude would be would be happy necessarily, but I mean,

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Speaker 1: that's that's the goal, is for you to have spent

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Speaker 1: it all on awesome stuff, the right things that move

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Speaker 1: the needle, and not have not be dying with a

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Speaker 1: Scrooge McDuck fortune that you leave to God knows who. Well.

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Speaker 1: The reality of dying destitude your three nephews. Sorry, of course,

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Speaker 1: the truth is that it's it's not really as easy

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Speaker 1: to pull off as it might seem, right, um. And

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Speaker 1: so to me, the heart of this endeavor is to

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Speaker 1: maximize all that you can get out of life, not

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Speaker 1: just for yourself though, but for others around you too.

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Speaker 1: And so if your goal is something akin to increasing

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Speaker 1: the life enjoyment of yourself and everyone around you, I

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Speaker 1: don't know. I think that that could be a reasonable

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Speaker 1: measuring stick, maybe a better measuring stick than amassing as

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Speaker 1: much money as possible. And we would say it's certainly

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Speaker 1: a better goal to have than like uh ten million

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Speaker 1: dollars by retirement age or even as our guest Cody

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Speaker 1: Sanchez mentioned that she mentioned she wanted to be a billionaire,

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Speaker 1: that that was kind of one of the measuring sticks

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Speaker 1: she was using, and she had so much great advice

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Speaker 1: in that episode about buying small business. But but that

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Speaker 1: was one thing where I was like, Okay, we're just

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Speaker 1: not on the same page on that. Like I I

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Speaker 1: have zero desire to become a billionaire. That to me

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Speaker 1: is not a measuring sticks that matters. But yes, some

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Speaker 1: of us, I would say, in our attempts to optimize

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Speaker 1: our personal finances, we can overdo it, right, causing us

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Speaker 1: to pinch more pennies than we should, which actually ends

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Speaker 1: up cramping our enjoyment. So finding that happy medium is

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Speaker 1: easier said than done, but we think it's really important

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Speaker 1: to really hone in on that. That's right. Yeah. Actually,

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Speaker 1: one one thing we talked recently about on a Friday

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Speaker 1: Flight episode was that was the life cycle modelist what

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Speaker 1: we called it. Uh. This is the idea that pushes

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Speaker 1: folks to smooth out their consumption and savings habits over time. Uh.

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Speaker 1: It you know, suggests that folks who were early on

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Speaker 1: in their careers they should maybe get a little comfier

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Speaker 1: with debt. Uh, don't put so much pressure on themselves

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Speaker 1: to save. And the economists who suggested this method, they

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Speaker 1: think that you can just pay off all that pesky

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Speaker 1: debt and then just save aggressively in your your late

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Speaker 1: thirties and forties, turning over our new leaf almost no

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Speaker 1: time at all, when like when your income is a

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Speaker 1: good bit higher. And honestly, again, this sounds very much

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Speaker 1: like something that an economist would come up with, you know,

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Speaker 1: something that works well on paper, but in reality it's

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Speaker 1: harder to pull off in real life. But still there

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Speaker 1: is at least some helpful wisdom with this line of thinking,

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Speaker 1: because if we refuse to take on any sorts of

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Speaker 1: debt out there that you know would help us to

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Speaker 1: get for instance, like the college degree that can increase

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Speaker 1: our our earnings for the rest of our lives. Then

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Speaker 1: in that case, I think we would be a bit myopic. Yeah,

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Speaker 1: I agree. This is this is one of those propositions

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Speaker 1: that looks good on a graph or a chartum, But

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Speaker 1: with the unpredictability of of life, it's it's harder to

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Speaker 1: pull off. And and again, like what you said mad

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Speaker 1: about the college degree, Like, we still want folks to

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Speaker 1: be careful with college debt, but using debt strategically, like

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Speaker 1: we talked about in recent episode five sixties six, it

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Speaker 1: allows us to actually accelerate our personal and financial progress.

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Speaker 1: And so let's say somebody one of our listeners wants

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Speaker 1: to become a doctor. Waiting until you've saved up all

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Speaker 1: the money to pay cash for that degree doesn't make

427
00:20:09,840 --> 00:20:12,320
Speaker 1: much sense, right, You'll be waiting a long long time

428
00:20:12,800 --> 00:20:15,320
Speaker 1: and you become a doctor at the rifled age of

429
00:20:15,320 --> 00:20:18,880
Speaker 1: fifty six. And uh, you know you're wasting precious high

430
00:20:18,920 --> 00:20:21,720
Speaker 1: earning years of your future career if you opt to

431
00:20:21,760 --> 00:20:23,639
Speaker 1: forego debt in order to pay cash to that degree.

432
00:20:24,040 --> 00:20:25,720
Speaker 1: But we would say also at the same time, saving

433
00:20:25,760 --> 00:20:28,320
Speaker 1: up to pay cash makes sense for a whole lot

434
00:20:28,359 --> 00:20:30,639
Speaker 1: of things. But if you've only got one life to live, right,

435
00:20:30,720 --> 00:20:33,680
Speaker 1: using debt strategically to finance assets that are going to

436
00:20:33,720 --> 00:20:37,840
Speaker 1: boost your wealth and increase your earnings is a savvy approach. Um.

437
00:20:37,880 --> 00:20:40,000
Speaker 1: But yeah, we'll talk a little bit more about how

438
00:20:40,040 --> 00:20:42,399
Speaker 1: to think about spending in light of the reality that

439
00:20:42,440 --> 00:20:44,560
Speaker 1: we don't necessarily want to die with heaps of money.

440
00:20:44,760 --> 00:20:46,840
Speaker 1: Plus we don't know when our dying date is actually

441
00:20:46,840 --> 00:20:49,400
Speaker 1: going to be. Matt, let's so let's talk about spending

442
00:20:49,520 --> 00:20:51,480
Speaker 1: out of out of that perspective. Man, let's do it.

443
00:20:52,040 --> 00:20:53,760
Speaker 1: I think the biggest thing that we'll want to consider

444
00:20:53,880 --> 00:20:56,879
Speaker 1: is what's going to bring us the greatest r o

445
00:20:57,000 --> 00:20:59,879
Speaker 1: I the return on investment from each dollar that we

446
00:21:00,320 --> 00:21:03,120
Speaker 1: do decide to a lot for consumption. So by doing this,

447
00:21:03,440 --> 00:21:06,640
Speaker 1: this is going to allow us to become more conscious spenders.

448
00:21:06,640 --> 00:21:09,560
Speaker 1: And we think that that's vitally important. Uh. And so

449
00:21:09,640 --> 00:21:11,720
Speaker 1: one of the first sort of pointers that we want

450
00:21:11,720 --> 00:21:13,359
Speaker 1: to put up there for folks, and and this isn't

451
00:21:13,359 --> 00:21:15,680
Speaker 1: necessarily going to be groundbreaking, but we want folks to

452
00:21:15,720 --> 00:21:19,199
Speaker 1: consider spending more on experiences. But we want you to

453
00:21:19,480 --> 00:21:22,320
Speaker 1: not again embrace the yellow lifestyle, but we want you

454
00:21:22,400 --> 00:21:25,040
Speaker 1: to do it the right way. We are big fans

455
00:21:25,200 --> 00:21:28,520
Speaker 1: of vacations, right like they allow you to book something, Uh,

456
00:21:28,680 --> 00:21:31,240
Speaker 1: you're able to look forward to going on that trip

457
00:21:31,280 --> 00:21:34,199
Speaker 1: for a while. You know, you maybe have fun for

458
00:21:34,240 --> 00:21:36,440
Speaker 1: a week or so, and then you're able to look

459
00:21:36,440 --> 00:21:38,439
Speaker 1: back on pictures. You're able to have those memories for

460
00:21:38,440 --> 00:21:41,199
Speaker 1: the rest of your life. Reminiscing about some of our

461
00:21:41,240 --> 00:21:44,360
Speaker 1: favorite vacations. How often do we talk about our our

462
00:21:44,480 --> 00:21:47,280
Speaker 1: trip us two couples to to Ireland. We talked about

463
00:21:47,280 --> 00:21:49,240
Speaker 1: it all the time. Yeah, it was such a good time.

464
00:21:49,800 --> 00:21:52,560
Speaker 1: Specific too many stories to get into actually right now.

465
00:21:53,080 --> 00:21:54,679
Speaker 1: One where you pushed me in a cowpoop is one.

466
00:21:55,280 --> 00:21:58,879
Speaker 1: Let's I'll think of the other one when we're playing darts.

467
00:21:59,119 --> 00:22:01,320
Speaker 1: I think we find it. I don't know. There's no

468
00:22:01,359 --> 00:22:04,159
Speaker 1: way we share that story here on the podcast. That

469
00:22:04,359 --> 00:22:07,320
Speaker 1: is one. That's episode. That's an in person story to

470
00:22:07,359 --> 00:22:09,440
Speaker 1: share when we're with some listeners at a brewery. That

471
00:22:10,200 --> 00:22:12,840
Speaker 1: But trips and vacations like this are such a solid

472
00:22:12,840 --> 00:22:16,320
Speaker 1: recipe for spending money effectively because it creates loads of

473
00:22:16,320 --> 00:22:19,199
Speaker 1: time for enjoyment. But we often think that spending on

474
00:22:19,280 --> 00:22:21,080
Speaker 1: experiences means that it's got to cost you a lot

475
00:22:21,119 --> 00:22:23,880
Speaker 1: of money. And I don't think that that's necessarily true

476
00:22:23,880 --> 00:22:26,320
Speaker 1: as well, because of just imagine like a three day

477
00:22:26,320 --> 00:22:29,040
Speaker 1: camping trip with your family or with a couple of

478
00:22:29,040 --> 00:22:31,480
Speaker 1: close friends, like that could cost you close to nothing.

479
00:22:31,760 --> 00:22:35,080
Speaker 1: Like literally, you're just paying for the cost of gas, Uh,

480
00:22:35,119 --> 00:22:38,879
Speaker 1: maybe some s'more supplies, maybe a bottle of whiskey. I

481
00:22:38,920 --> 00:22:40,960
Speaker 1: prefer just you know, sitting around the fire, being able

482
00:22:41,000 --> 00:22:43,280
Speaker 1: to do that. And so it's important to push back

483
00:22:43,400 --> 00:22:45,960
Speaker 1: that going on a trip, going on a vacation has

484
00:22:46,000 --> 00:22:49,159
Speaker 1: to be this, you know, this massive thing that you

485
00:22:49,240 --> 00:22:51,440
Speaker 1: are saving for for for months and months or even

486
00:22:51,480 --> 00:22:54,960
Speaker 1: for years. And also I think it's important to push

487
00:22:55,000 --> 00:22:58,840
Speaker 1: back against the idea that we see more folks leaning towards,

488
00:22:58,880 --> 00:23:01,640
Speaker 1: which is experience. It's hopping. I feel like that's more

489
00:23:02,320 --> 00:23:05,080
Speaker 1: something that folks have a tendency to do in our culture. Um,

490
00:23:05,160 --> 00:23:06,679
Speaker 1: and you know, that's when we try to move on

491
00:23:06,760 --> 00:23:10,080
Speaker 1: to the next just fun thing as quickly as possible.

492
00:23:10,400 --> 00:23:12,200
Speaker 1: I think if that when that's the case, we're often

493
00:23:12,280 --> 00:23:16,359
Speaker 1: missing out on enjoying the current experience. We're not present,

494
00:23:16,520 --> 00:23:20,760
Speaker 1: We're we're not soaking up every last like I imagine

495
00:23:20,840 --> 00:23:23,360
Speaker 1: like you've just taken that slice of bread and you're

496
00:23:23,359 --> 00:23:26,320
Speaker 1: just wiping every last little bit of gravy off that plate.

497
00:23:26,440 --> 00:23:29,080
Speaker 1: Like that is how we want you to approach some

498
00:23:29,119 --> 00:23:30,960
Speaker 1: of the different experiences in life. Yeah, And I think

499
00:23:31,080 --> 00:23:33,560
Speaker 1: that that's where van life sometimes falls short, right, is

500
00:23:33,600 --> 00:23:36,719
Speaker 1: the hashtag van life is because it's there's always an

501
00:23:36,720 --> 00:23:39,960
Speaker 1: next experience. It's it's tough to fully soak in and

502
00:23:40,000 --> 00:23:42,440
Speaker 1: appreciate the experience you're having in that day because you

503
00:23:42,520 --> 00:23:44,159
Speaker 1: gotta hop in and go somewhere else the next day.

504
00:23:44,160 --> 00:23:46,399
Speaker 1: And that's just well, that's exciting. It also gets like

505
00:23:46,520 --> 00:23:49,600
Speaker 1: endlessly boring to see something new almost every day, like

506
00:23:49,640 --> 00:23:51,280
Speaker 1: for for months and months and months on end roll

507
00:23:51,280 --> 00:23:53,320
Speaker 1: throwing some of that van life a man like, I

508
00:23:53,359 --> 00:23:56,280
Speaker 1: don't know either way you're listening, you've got a van.

509
00:23:57,800 --> 00:24:00,080
Speaker 1: Do we have any van life life influencer listeners on that.

510
00:24:00,200 --> 00:24:02,639
Speaker 1: I'm not thinking of anybody and protution Well, and I'm

511
00:24:02,680 --> 00:24:04,399
Speaker 1: sure there's somebody out there who's just like, oh, I

512
00:24:04,400 --> 00:24:06,840
Speaker 1: love my van. I mean, I think we've seen are

513
00:24:06,840 --> 00:24:08,760
Speaker 1: more articles lately about people who lived in the van

514
00:24:08,840 --> 00:24:11,280
Speaker 1: life lifestyle, and like it's it's not always chalked up

515
00:24:11,320 --> 00:24:14,040
Speaker 1: to me because it does get a little monotonous, it

516
00:24:14,080 --> 00:24:15,879
Speaker 1: gets a little difficult to stomach after a while. I

517
00:24:15,920 --> 00:24:18,320
Speaker 1: miss some sort of sense of community in place, and

518
00:24:18,359 --> 00:24:20,280
Speaker 1: that would be the hardest thing unless you're literally in

519
00:24:20,320 --> 00:24:24,239
Speaker 1: a caravan, get multiple friends driving across the country, and

520
00:24:24,240 --> 00:24:26,439
Speaker 1: and even in that, it can become that like, like

521
00:24:26,480 --> 00:24:29,399
Speaker 1: you said, experience hopping where you're not fully appreciating the

522
00:24:29,400 --> 00:24:31,480
Speaker 1: place where you are. And and we would say it's

523
00:24:31,480 --> 00:24:34,560
Speaker 1: it's smart to start planning ahead for those experiences too.

524
00:24:34,720 --> 00:24:35,959
Speaker 1: What is it that you feel like you just have

525
00:24:36,040 --> 00:24:37,960
Speaker 1: to do right before you die or in life? Like,

526
00:24:38,000 --> 00:24:41,520
Speaker 1: what are the biggest experiential priorities for you in the

527
00:24:41,560 --> 00:24:44,360
Speaker 1: coming months and years that that are highing your bucket list?

528
00:24:44,359 --> 00:24:45,800
Speaker 1: You know what, what kind of and what kind of

529
00:24:45,800 --> 00:24:47,280
Speaker 1: money is it going to take to make that happen.

530
00:24:47,760 --> 00:24:50,240
Speaker 1: Instead of hoping that it's going to come to fruition

531
00:24:50,480 --> 00:24:52,280
Speaker 1: or having it maybe in the back of your mind

532
00:24:52,280 --> 00:24:54,679
Speaker 1: somewhere like, oh, wouldn't that be nice, we would say

533
00:24:54,720 --> 00:24:57,359
Speaker 1: to start planning for it, because yeah, if it involves

534
00:24:57,440 --> 00:24:59,399
Speaker 1: let's say, doing epic stuff with your kids, Well, at

535
00:24:59,440 --> 00:25:02,120
Speaker 1: what ages that the experience optimal? Makes me think about,

536
00:25:02,119 --> 00:25:04,560
Speaker 1: like going to Disney World, that's something you've done that,

537
00:25:04,600 --> 00:25:06,560
Speaker 1: but it's something that we haven't done yet with our family,

538
00:25:06,600 --> 00:25:09,040
Speaker 1: and like, yeah, we're like thinking ahead a little bit

539
00:25:09,080 --> 00:25:10,560
Speaker 1: because I only want to go once. I don't want

540
00:25:10,560 --> 00:25:12,920
Speaker 1: to have to go back mut multiple times, since you

541
00:25:12,920 --> 00:25:14,919
Speaker 1: want to hit all four kids at a reasonable ages exactly,

542
00:25:14,960 --> 00:25:17,240
Speaker 1: because if we get too old with the oldest and

543
00:25:17,560 --> 00:25:19,520
Speaker 1: the magic, yeah, the magic can be gone. But if

544
00:25:19,520 --> 00:25:21,239
Speaker 1: we go too soon with the youngest, he's not even

545
00:25:21,280 --> 00:25:23,800
Speaker 1: gonna remember, Like it needs to be. He needs to

546
00:25:23,800 --> 00:25:27,040
Speaker 1: be his brain needs to be developed enough that remembers going,

547
00:25:27,320 --> 00:25:30,720
Speaker 1: because he's past the point paying for him if he's Yeah,

548
00:25:30,720 --> 00:25:33,639
Speaker 1: because if you're two or younger, it's free, right, that's right.

549
00:25:33,640 --> 00:25:35,359
Speaker 1: Like if once you hit the three year old mark,

550
00:25:35,800 --> 00:25:37,639
Speaker 1: is no longer free, and so I'm just like, all right,

551
00:25:37,640 --> 00:25:40,679
Speaker 1: we're paying regardless, so we better make sure that that

552
00:25:40,720 --> 00:25:43,159
Speaker 1: he remembers. But I mean, with with all of these

553
00:25:43,160 --> 00:25:45,479
Speaker 1: different things, I think what's core with some of these

554
00:25:45,480 --> 00:25:47,840
Speaker 1: different experiences is the fact that you're doing it with

555
00:25:47,880 --> 00:25:50,359
Speaker 1: other people, right, I think that is at the root

556
00:25:50,600 --> 00:25:54,160
Speaker 1: of why it is that experiences are are so popular,

557
00:25:54,400 --> 00:25:56,800
Speaker 1: like I feel like they have experiences. Oh you do

558
00:25:56,880 --> 00:25:59,919
Speaker 1: experiences over stuff because like there's been a rallying cry

559
00:26:00,000 --> 00:26:03,280
Speaker 1: mind experiences. And if you aren't able to identify what

560
00:26:03,440 --> 00:26:06,960
Speaker 1: it is about the experience that is leading to more joy,

561
00:26:07,119 --> 00:26:09,840
Speaker 1: more happiness and individuals lives, I think you can completely

562
00:26:09,880 --> 00:26:11,639
Speaker 1: miss it that just like you know, we're saying with

563
00:26:11,680 --> 00:26:15,480
Speaker 1: like experience hopping, if you aren't able to identify that, man, oftentimes,

564
00:26:15,480 --> 00:26:17,120
Speaker 1: I think it's the memories that you're able to make

565
00:26:17,280 --> 00:26:19,639
Speaker 1: with another person. And it just turns out that some

566
00:26:19,680 --> 00:26:22,280
Speaker 1: of these different vacations and trips and experiences like this

567
00:26:22,400 --> 00:26:26,200
Speaker 1: allow you to it'll it'll basically allow space. It literally

568
00:26:26,240 --> 00:26:28,600
Speaker 1: you're carving off a week on your calendar where you're

569
00:26:28,600 --> 00:26:30,720
Speaker 1: gonna be spending time with this person, where you're able

570
00:26:30,760 --> 00:26:32,960
Speaker 1: to get to know each other better. Right, I mean, like,

571
00:26:33,000 --> 00:26:36,720
Speaker 1: as individuals, we all have these deep core innate desires

572
00:26:36,760 --> 00:26:39,240
Speaker 1: to be known, to be seen, to be understood by

573
00:26:39,320 --> 00:26:42,600
Speaker 1: other people, and it just so happens that vacations allow

574
00:26:42,760 --> 00:26:44,920
Speaker 1: you the space to be able to do that better.

575
00:26:45,000 --> 00:26:46,800
Speaker 1: And the more that we plan for, the more it

576
00:26:46,840 --> 00:26:49,320
Speaker 1: becomes an easier financial lift. But the more that we

577
00:26:49,320 --> 00:26:50,639
Speaker 1: can look forward to it as well. It makes me

578
00:26:50,680 --> 00:26:52,760
Speaker 1: think of We've talked about this multiple times on the show,

579
00:26:52,760 --> 00:26:54,960
Speaker 1: but you were saving up for that World Cup experience,

580
00:26:55,320 --> 00:26:57,440
Speaker 1: and I'm just like, man, the World Cup is coming

581
00:26:57,520 --> 00:26:59,640
Speaker 1: coming around in November of this year. I think it's

582
00:26:59,640 --> 00:27:02,080
Speaker 1: it's gonna add some excitement even to you watching World

583
00:27:02,119 --> 00:27:03,880
Speaker 1: Cup action on TV right the fire a little bit

584
00:27:03,920 --> 00:27:05,960
Speaker 1: realizing that in you know, three and a half short

585
00:27:06,040 --> 00:27:07,840
Speaker 1: years or something like that, you're going to be at

586
00:27:07,840 --> 00:27:10,240
Speaker 1: a World Cup match of your own. And so the

587
00:27:11,119 --> 00:27:13,480
Speaker 1: thing is planning ahead though, is key not just financially

588
00:27:13,520 --> 00:27:16,080
Speaker 1: but also experientially to be able to get the most

589
00:27:16,160 --> 00:27:18,040
Speaker 1: juice right, to be able to ring the most life

590
00:27:18,200 --> 00:27:19,960
Speaker 1: out of out of that experience that you're saving for.

591
00:27:20,040 --> 00:27:21,679
Speaker 1: It might even get me one of those jerseys. Well,

592
00:27:21,760 --> 00:27:23,440
Speaker 1: let's talk about buying stuff here for a second to

593
00:27:23,560 --> 00:27:25,560
Speaker 1: because man, I think when we talk about experiences verse

594
00:27:25,600 --> 00:27:28,600
Speaker 1: stuff like buying stuff gets short shrift, like it's it's

595
00:27:28,600 --> 00:27:31,320
Speaker 1: often considered like stupid. Spend your money on experiences. You'll

596
00:27:31,320 --> 00:27:33,640
Speaker 1: be happy if you spend your money on things. It's

597
00:27:33,680 --> 00:27:36,280
Speaker 1: a waste. It's a waste, And the truth is that's

598
00:27:36,320 --> 00:27:39,960
Speaker 1: not exactly correct either, Like experiences get all the love,

599
00:27:40,359 --> 00:27:43,240
Speaker 1: but stuff, there's a meaningful place for stuff in your life.

600
00:27:43,240 --> 00:27:45,159
Speaker 1: And I don't know, I guess I get it though,

601
00:27:45,200 --> 00:27:47,520
Speaker 1: because probably all of us we've had more more regrets

602
00:27:47,520 --> 00:27:50,320
Speaker 1: because money we spent on physical items. Most of us

603
00:27:50,320 --> 00:27:53,040
Speaker 1: don't regret nearly to the same extent money we spent

604
00:27:53,119 --> 00:27:55,680
Speaker 1: on like a mountain retreat with some close friends. We're

605
00:27:55,680 --> 00:27:57,200
Speaker 1: not like, man, I wish we hadn't done that unless

606
00:27:57,200 --> 00:27:59,120
Speaker 1: there were some sort of emotional blow up or something

607
00:27:59,160 --> 00:28:02,480
Speaker 1: like that, which you did recently with a bunch of buddies. Yeah, yeah,

608
00:28:02,480 --> 00:28:05,400
Speaker 1: which was so fun and it was so cheap, but

609
00:28:06,160 --> 00:28:08,960
Speaker 1: it was not an expensive yeah. I mean, you know,

610
00:28:09,000 --> 00:28:10,399
Speaker 1: we went to a couple of brewerings, went not to

611
00:28:10,440 --> 00:28:12,160
Speaker 1: either a couple of times, went on a bunch of hikes,

612
00:28:12,440 --> 00:28:14,240
Speaker 1: just really hung out and caught up and it was

613
00:28:14,600 --> 00:28:17,560
Speaker 1: super joyful, well worth the money that we spent on that.

614
00:28:17,840 --> 00:28:19,600
Speaker 1: And and but the more thoughtful that we can get

615
00:28:19,800 --> 00:28:22,480
Speaker 1: about our purchases on the front end, the less likely

616
00:28:22,520 --> 00:28:26,000
Speaker 1: we are to experience those expenses as being frivolous. And

617
00:28:26,040 --> 00:28:29,960
Speaker 1: for most folks that means prioritizing fewer things in things

618
00:28:29,960 --> 00:28:32,439
Speaker 1: that are of higher quality, even if that means buying

619
00:28:32,520 --> 00:28:36,440
Speaker 1: them used. So I don't know. I think again, buying

620
00:28:36,480 --> 00:28:40,200
Speaker 1: stuff gets categorized as idiotic. But the truth is, like,

621
00:28:40,280 --> 00:28:43,000
Speaker 1: you know, there are some physical items that I own

622
00:28:43,480 --> 00:28:45,400
Speaker 1: that mean a lot to me. For instance, like the

623
00:28:45,440 --> 00:28:48,000
Speaker 1: folk cart that's on my walls, or the bike that

624
00:28:48,040 --> 00:28:51,560
Speaker 1: I ride every day, or my favorite pair of sneakers,

625
00:28:51,560 --> 00:28:53,400
Speaker 1: like those are things that, like I actually do get

626
00:28:53,440 --> 00:28:55,440
Speaker 1: a lot of value from. But on the flip side

627
00:28:55,480 --> 00:28:58,920
Speaker 1: of the coin, it's so much easier to thoughtlessly spend

628
00:28:59,320 --> 00:29:02,880
Speaker 1: on physical goods than it is to spend on on experiences.

629
00:29:02,920 --> 00:29:04,640
Speaker 1: I think that's I think that's probably the rub there.

630
00:29:04,760 --> 00:29:07,080
Speaker 1: Totally agree. Yeah, I think it's easier to accumulate stuff

631
00:29:07,080 --> 00:29:10,160
Speaker 1: than it is to accumulate vacations that you've that you've gone, right,

632
00:29:10,360 --> 00:29:12,360
Speaker 1: I'm just I've just accumulated too many of them trips.

633
00:29:12,960 --> 00:29:15,680
Speaker 1: And I said, no one ever exactly. Well, you know,

634
00:29:15,960 --> 00:29:18,360
Speaker 1: I think another way to increase the r o I

635
00:29:18,440 --> 00:29:21,400
Speaker 1: from the dollars that you spend is to consider using

636
00:29:21,440 --> 00:29:24,760
Speaker 1: them to save you more of your time. A lot

637
00:29:24,840 --> 00:29:27,840
Speaker 1: of folks believe that money is a limited resource, but

638
00:29:27,920 --> 00:29:29,960
Speaker 1: we would disagree because you can always make more money,

639
00:29:30,000 --> 00:29:32,760
Speaker 1: but you are never gonna have more time than you

640
00:29:32,880 --> 00:29:37,320
Speaker 1: did yesterday. And you can say that forever, perpetually. But

641
00:29:37,360 --> 00:29:39,480
Speaker 1: the thing is, this too can be overdone. Uh, And

642
00:29:39,520 --> 00:29:41,760
Speaker 1: if we're honest, I think sometimes we end up doing this,

643
00:29:41,800 --> 00:29:44,240
Speaker 1: you know, kind of out of sheer laziness. For instance,

644
00:29:44,240 --> 00:29:46,280
Speaker 1: to imagine all the new apps that have appeared on

645
00:29:46,320 --> 00:29:48,560
Speaker 1: your phone, and just by downloading this app, I no

646
00:29:48,640 --> 00:29:50,560
Speaker 1: longer have to drive to the grocery store, or I

647
00:29:50,600 --> 00:29:52,080
Speaker 1: no longer have to go and pick up my take

648
00:29:52,080 --> 00:29:54,600
Speaker 1: out anymore. Somebody else will bring it to me, and

649
00:29:54,600 --> 00:29:56,360
Speaker 1: maybe they'll sit down at my table next and put

650
00:29:56,400 --> 00:30:00,960
Speaker 1: it in my mouth and Wally style, let me chew

651
00:30:01,040 --> 00:30:04,440
Speaker 1: the food. Can you also digest it for me? But uh,

652
00:30:04,440 --> 00:30:06,840
Speaker 1: in our experience, if you can hire folks to do

653
00:30:06,920 --> 00:30:09,480
Speaker 1: some of your least favorite jobs around the house and

654
00:30:09,480 --> 00:30:12,720
Speaker 1: then use that time more effectively, and I don't mean

655
00:30:12,960 --> 00:30:15,080
Speaker 1: finding ways to monetize that that time, I mean to

656
00:30:15,160 --> 00:30:18,320
Speaker 1: actually go and do something enjoyable, like going for a hike.

657
00:30:18,800 --> 00:30:20,040
Speaker 1: If that's the case, and I think this can be

658
00:30:20,080 --> 00:30:23,960
Speaker 1: worth prioritizing your dollars for those sorts of expenses. But

659
00:30:24,000 --> 00:30:27,440
Speaker 1: of course, your decisions on what you enjoy spending money on,

660
00:30:27,520 --> 00:30:30,040
Speaker 1: combined with your your income and your net worth, that's

661
00:30:30,080 --> 00:30:33,800
Speaker 1: going to influence the route that you specifically take. Obviously,

662
00:30:33,840 --> 00:30:36,800
Speaker 1: everyone is in a different boat. We all have different

663
00:30:36,840 --> 00:30:38,520
Speaker 1: personal preferences and what it is that we like to

664
00:30:38,520 --> 00:30:40,160
Speaker 1: spend our time on. But it's gonna take some time

665
00:30:40,200 --> 00:30:43,080
Speaker 1: to think through and to analyze what it is that's

666
00:30:43,080 --> 00:30:45,560
Speaker 1: going to move the needle the most for you. Yeah,

667
00:30:45,720 --> 00:30:47,680
Speaker 1: And at some times, like even the thing that would

668
00:30:47,800 --> 00:30:49,280
Speaker 1: move the needle, you don't have the money for yet,

669
00:30:49,280 --> 00:30:50,680
Speaker 1: and so you have to wait to be able to

670
00:30:50,680 --> 00:30:52,680
Speaker 1: prioritize that thing. Matt, It just made me makes me

671
00:30:52,680 --> 00:30:55,120
Speaker 1: think of going back to fulk Heart mentioned that I like,

672
00:30:55,640 --> 00:30:57,040
Speaker 1: I don't know if people know this about me, but

673
00:30:57,400 --> 00:30:59,440
Speaker 1: I've mentioned on a few episodes before I'm kind of

674
00:30:59,480 --> 00:31:02,160
Speaker 1: obsessed with with full cart, which is like untrained artists

675
00:31:02,440 --> 00:31:04,400
Speaker 1: making work that I think it's beautiful that most people

676
00:31:04,400 --> 00:31:07,680
Speaker 1: probably think looks weird. But it's like a possum sitting

677
00:31:07,720 --> 00:31:09,840
Speaker 1: on a dock with us corn cob pipe and it's

678
00:31:09,840 --> 00:31:12,200
Speaker 1: saying weird stuff like that, Like the literally bought a

679
00:31:12,240 --> 00:31:14,680
Speaker 1: painting recently of like three skunks, and people are probably

680
00:31:14,720 --> 00:31:16,240
Speaker 1: like coming to my house and they're like, what is

681
00:31:16,280 --> 00:31:17,959
Speaker 1: this saying. I'm like, I find joy in it. They

682
00:31:17,960 --> 00:31:20,200
Speaker 1: sat around on the table plane poker. But that would

683
00:31:20,240 --> 00:31:22,280
Speaker 1: be awesome. I'm gonna look for one of those. Hopefully

684
00:31:22,360 --> 00:31:24,560
Speaker 1: I'll come across it soon. It's like a nice seventies

685
00:31:24,640 --> 00:31:30,400
Speaker 1: folk art like kind of jushup intersectional. Yeah, well so.

686
00:31:30,600 --> 00:31:32,920
Speaker 1: But like Emily and I on a recent trip, we

687
00:31:32,960 --> 00:31:34,760
Speaker 1: went into a full cart gallery and a lot of

688
00:31:34,760 --> 00:31:36,600
Speaker 1: these pieces, some of the really cool pieces were like

689
00:31:36,640 --> 00:31:39,360
Speaker 1: twelve bucks. Some of them were cheating than these, and

690
00:31:39,360 --> 00:31:41,800
Speaker 1: you're gonna just say twelve bucks. No, one of the

691
00:31:41,840 --> 00:31:44,920
Speaker 1: pieces that I really like folk artists. Yeah, one of

692
00:31:44,920 --> 00:31:46,239
Speaker 1: the one of the pieces I really liked, just from

693
00:31:46,280 --> 00:31:48,880
Speaker 1: one of my favorite artists, Howard Finster, was bucks for

694
00:31:48,880 --> 00:31:53,000
Speaker 1: this awesome, awesome small piece though, And of course like, NA, no,

695
00:31:53,080 --> 00:31:54,720
Speaker 1: I'm not gonna do it. I'm not. I don't feel

696
00:31:54,760 --> 00:31:56,760
Speaker 1: like I'm in the financial position to be spending money

697
00:31:56,760 --> 00:31:59,920
Speaker 1: on that yet. But we had gone to Howard Finster's

698
00:32:00,000 --> 00:32:03,720
Speaker 1: house recently Paradise Gardens in Georgia for the Howard Finster Festival,

699
00:32:03,920 --> 00:32:06,200
Speaker 1: and we bought four pieces of all card there, all

700
00:32:06,200 --> 00:32:08,680
Speaker 1: of which were fifty bucks or less a piece, and

701
00:32:08,760 --> 00:32:11,040
Speaker 1: so yes, so much that weren't fensters, there were by

702
00:32:11,040 --> 00:32:12,960
Speaker 1: other arts exactly, they were by other artists, and so

703
00:32:13,240 --> 00:32:15,640
Speaker 1: that it is important to note that, like you said,

704
00:32:16,240 --> 00:32:18,120
Speaker 1: based on your income, based on your net worth, like

705
00:32:18,120 --> 00:32:19,680
Speaker 1: what this looks like is going to be different, and

706
00:32:19,720 --> 00:32:22,120
Speaker 1: maybe maybe I'll get to the point Matt, We're dropping

707
00:32:22,120 --> 00:32:24,040
Speaker 1: twelve hund bucks for a fenster because I'm in this

708
00:32:24,080 --> 00:32:26,760
Speaker 1: gallery doesn't feel like a big deal. I'm not there

709
00:32:26,840 --> 00:32:28,560
Speaker 1: yet right that that's that's just not the position time,

710
00:32:28,680 --> 00:32:30,240
Speaker 1: or maybe you just didn't come across the right piece,

711
00:32:30,280 --> 00:32:33,640
Speaker 1: because I mean, you've been collecting full card for a

712
00:32:33,640 --> 00:32:35,480
Speaker 1: while now, and I feel like, I mean personally, I

713
00:32:35,480 --> 00:32:37,360
Speaker 1: think you're at the point to where you could have

714
00:32:37,400 --> 00:32:39,880
Speaker 1: spent that much money, but maybe it wasn't the right piece.

715
00:32:39,960 --> 00:32:43,120
Speaker 1: We're in a bear market, Matt, we're ad market. Like

716
00:32:43,160 --> 00:32:46,280
Speaker 1: you don't understand my net worth is no, but it

717
00:32:46,360 --> 00:32:47,800
Speaker 1: is one of those things where so much of it

718
00:32:47,840 --> 00:32:49,680
Speaker 1: depends on where you're at with networks and income and

719
00:32:49,840 --> 00:32:52,360
Speaker 1: how comfortable you feel. Because you might say, listen, I

720
00:32:52,400 --> 00:32:54,520
Speaker 1: would love to get some more time in my life,

721
00:32:54,520 --> 00:32:56,400
Speaker 1: and I don't mind paying for someone to let's say

722
00:32:56,400 --> 00:32:57,719
Speaker 1: clean the house once a month, so I can kind

723
00:32:57,720 --> 00:32:59,840
Speaker 1: of take that off on plate a little bit. But

724
00:33:00,120 --> 00:33:01,760
Speaker 1: you might not be in the financial position to do

725
00:33:01,800 --> 00:33:04,239
Speaker 1: that yet. But that's a great goal to have, uh,

726
00:33:04,320 --> 00:33:06,880
Speaker 1: to be able to achieve that hopefully in the future

727
00:33:06,920 --> 00:33:08,640
Speaker 1: at some point. You know. Actually, one other thing I

728
00:33:08,640 --> 00:33:11,040
Speaker 1: want to mention too, I feel like kind of bridges uh,

729
00:33:11,160 --> 00:33:13,800
Speaker 1: the ability to spend money to save time as well

730
00:33:13,840 --> 00:33:16,400
Speaker 1: as spending money on stuff, and that is recently I've

731
00:33:16,400 --> 00:33:19,320
Speaker 1: spent some money on some expensive tools. So there's sort

732
00:33:19,320 --> 00:33:21,880
Speaker 1: of like this dichotomy that we're putting out there, right,

733
00:33:21,880 --> 00:33:23,800
Speaker 1: Like you can either spend money on someone to do

734
00:33:23,800 --> 00:33:25,400
Speaker 1: a bunch of work at your you know, at your house,

735
00:33:25,480 --> 00:33:27,680
Speaker 1: or you're spending money on something that's gonna make you

736
00:33:27,720 --> 00:33:30,200
Speaker 1: smile or you know, something that you're gonna find enjoyment

737
00:33:30,200 --> 00:33:32,240
Speaker 1: out of. But actually feel like that there's a spectrum,

738
00:33:32,320 --> 00:33:34,040
Speaker 1: right Like on one end, you have like the total

739
00:33:34,120 --> 00:33:36,280
Speaker 1: d I Y route where you're going the absolute cheapest,

740
00:33:36,360 --> 00:33:38,400
Speaker 1: but and then on the other end you do have, uh,

741
00:33:38,520 --> 00:33:41,880
Speaker 1: your your outsourcing network. But I think with the right tools,

742
00:33:42,120 --> 00:33:43,680
Speaker 1: like anytime you have the right tool for the job,

743
00:33:43,680 --> 00:33:46,520
Speaker 1: it's going to make it much more not only successful,

744
00:33:46,760 --> 00:33:48,960
Speaker 1: but just it's going to make it a more enjoyable

745
00:33:49,000 --> 00:33:51,480
Speaker 1: experience as well. And of course it's going to save

746
00:33:51,520 --> 00:33:54,320
Speaker 1: you money because typically if you if you buy a tool,

747
00:33:54,320 --> 00:33:56,760
Speaker 1: that's something that you can then use over and over again,

748
00:33:56,840 --> 00:33:59,480
Speaker 1: as opposed to, you know, having somebody to do a

749
00:33:59,560 --> 00:34:01,720
Speaker 1: job for you. So specifically, I'm thinking of like about

750
00:34:01,760 --> 00:34:04,840
Speaker 1: a really nice sauce all recently and at our new house,

751
00:34:04,920 --> 00:34:08,360
Speaker 1: there's a bunch of these like thorny all of bushes basically,

752
00:34:08,800 --> 00:34:12,399
Speaker 1: and we got a quote for this company who cuts

753
00:34:12,400 --> 00:34:14,319
Speaker 1: a lot of the yards in the neighborhood to clear

754
00:34:14,400 --> 00:34:17,040
Speaker 1: clear all that out, and it was a ton of money,

755
00:34:17,400 --> 00:34:19,120
Speaker 1: like hundreds and hundreds of dollars, and I was just like,

756
00:34:19,160 --> 00:34:21,839
Speaker 1: there's no way that I'm going to spend that kind

757
00:34:21,880 --> 00:34:24,760
Speaker 1: of money on cutting literally just cutting down these bushes.

758
00:34:24,760 --> 00:34:26,640
Speaker 1: Who should get yourself a tool to help you do it?

759
00:34:26,880 --> 00:34:29,920
Speaker 1: And you have to enjoy this new tool. And it's

760
00:34:29,920 --> 00:34:31,920
Speaker 1: not a cheap tool, like you know, this is a

761
00:34:32,040 --> 00:34:33,920
Speaker 1: like a the Walt face. You know, it's a saws all,

762
00:34:33,960 --> 00:34:35,680
Speaker 1: battery powered saws all. And I'll tell you what, like

763
00:34:35,719 --> 00:34:37,719
Speaker 1: the blade was really expensive too. I was shocked at

764
00:34:37,719 --> 00:34:40,200
Speaker 1: how expensive this because I got a nice blade. This

765
00:34:40,280 --> 00:34:42,120
Speaker 1: is a really nice pruning blade. But you know what,

766
00:34:42,160 --> 00:34:44,080
Speaker 1: I've used it a bunch. That thing is still sharp.

767
00:34:44,800 --> 00:34:46,759
Speaker 1: And so I mentioned that because I think the right

768
00:34:46,920 --> 00:34:49,680
Speaker 1: tools can allow you to not only save time, and

769
00:34:49,719 --> 00:34:51,239
Speaker 1: so in a sense, you are kind of buying some

770
00:34:51,280 --> 00:34:53,560
Speaker 1: of your time back. Uh. It saves you money because

771
00:34:53,600 --> 00:34:55,600
Speaker 1: you're not quite spending as much money as if I

772
00:34:55,640 --> 00:34:57,680
Speaker 1: would have paid a company to take care of it.

773
00:34:57,719 --> 00:34:59,560
Speaker 1: But it also is just making it more enjoyable for

774
00:34:59,600 --> 00:35:01,440
Speaker 1: me to you know, like playing with the kids in

775
00:35:01,480 --> 00:35:03,239
Speaker 1: the backyard and after a while they kind of start

776
00:35:03,280 --> 00:35:05,279
Speaker 1: play scaring them with these cells, they start playing on

777
00:35:05,320 --> 00:35:06,719
Speaker 1: their own and I'll grab it and I'll just I'll

778
00:35:06,760 --> 00:35:08,080
Speaker 1: cut down one of the bushes and pull it off

779
00:35:08,080 --> 00:35:09,960
Speaker 1: to the side. Uh. And so I feel like that

780
00:35:10,000 --> 00:35:12,719
Speaker 1: there's an ability for us to almost even like create

781
00:35:12,719 --> 00:35:14,520
Speaker 1: memories where they're like, oh, there's that again. He's gonna

782
00:35:14,560 --> 00:35:17,120
Speaker 1: go over there and cut down one of his bushes.

783
00:35:17,480 --> 00:35:20,160
Speaker 1: The act, the chore in and of itself, is sort

784
00:35:20,200 --> 00:35:22,640
Speaker 1: of maybe creating some of those memories that the kids remember.

785
00:35:22,640 --> 00:35:24,120
Speaker 1: There you go, anyway, I wanted to mention I feel

786
00:35:24,160 --> 00:35:27,000
Speaker 1: I feel like there is something between buying stuff as

787
00:35:27,000 --> 00:35:29,600
Speaker 1: well as like kind of outsourcing or paying for some

788
00:35:29,640 --> 00:35:31,319
Speaker 1: of your time back. Okay, yeah, I think that's I

789
00:35:31,320 --> 00:35:33,520
Speaker 1: think that makes sense well. And I think another another

790
00:35:33,680 --> 00:35:36,120
Speaker 1: last thing on the spending portion of this match is

791
00:35:36,120 --> 00:35:38,680
Speaker 1: is that you should take joy in spending money on

792
00:35:38,719 --> 00:35:40,640
Speaker 1: the things that bring you value, that bring you joy.

793
00:35:40,760 --> 00:35:44,320
Speaker 1: And I enjoyed buying that tool good exactly as you should.

794
00:35:44,320 --> 00:35:45,560
Speaker 1: You should look at that thing now and be like

795
00:35:45,600 --> 00:35:47,600
Speaker 1: that was money well spent instead of being like, oh, man,

796
00:35:47,640 --> 00:35:51,680
Speaker 1: should I have second second guessing questioning you're buying decisions?

797
00:35:51,760 --> 00:35:53,759
Speaker 1: And I don't. I think at times, man, I was

798
00:35:53,800 --> 00:35:56,600
Speaker 1: so frugal for so long, like to frugal, frugal to

799
00:35:56,600 --> 00:35:58,960
Speaker 1: where it hurt that that even when I bought stuff

800
00:35:59,040 --> 00:36:01,000
Speaker 1: that did move the needle for me, that made me,

801
00:36:01,200 --> 00:36:03,320
Speaker 1: that brought joint in my life, I found it harder

802
00:36:03,360 --> 00:36:05,160
Speaker 1: to enjoy than I should have because I was always

803
00:36:05,239 --> 00:36:06,880
Speaker 1: questioning whether or not I should have spent the money.

804
00:36:07,160 --> 00:36:08,920
Speaker 1: And I think that's I'm not the only person in

805
00:36:08,960 --> 00:36:10,879
Speaker 1: that boat. There are other how the money listeners who

806
00:36:10,880 --> 00:36:13,200
Speaker 1: are frugal to that point and are actually it was

807
00:36:13,239 --> 00:36:15,480
Speaker 1: our episode when we talked with Ken Honda. That was

808
00:36:15,520 --> 00:36:18,080
Speaker 1: episode three five and and some of the things he

809
00:36:18,080 --> 00:36:20,719
Speaker 1: said were really really helpful to me, and the way

810
00:36:20,760 --> 00:36:23,399
Speaker 1: I internalized it was instead of trying to spend as

811
00:36:23,440 --> 00:36:25,759
Speaker 1: little money as possible and then getting an ulcer, let's

812
00:36:25,760 --> 00:36:28,479
Speaker 1: say every time I did spend money, being stressed every

813
00:36:28,480 --> 00:36:31,839
Speaker 1: time I bought something, even if it was meaningful to me,

814
00:36:32,320 --> 00:36:35,160
Speaker 1: it's really talking That conversation Hells helped me to focus

815
00:36:35,239 --> 00:36:38,840
Speaker 1: on enjoying the intentional spending that I am doing, seeing

816
00:36:38,880 --> 00:36:41,040
Speaker 1: it as a good thing, being thankful for the money

817
00:36:41,040 --> 00:36:43,080
Speaker 1: that's coming to my life that I can use to

818
00:36:43,280 --> 00:36:45,480
Speaker 1: pursue things that matter. And I'm not sure how many

819
00:36:45,520 --> 00:36:47,799
Speaker 1: of our listeners fall into that, like super frugal camp

820
00:36:47,840 --> 00:36:50,560
Speaker 1: like Forgo where it hurts out there who Yeah, they

821
00:36:50,600 --> 00:36:54,120
Speaker 1: feel reorient conviction. Yeah, you gotta reorient and figure that out,

822
00:36:54,160 --> 00:36:58,440
Speaker 1: because the longer you keep that that mindset hanging around,

823
00:36:58,920 --> 00:37:00,799
Speaker 1: the more difficult it is going to be for you

824
00:37:00,800 --> 00:37:02,359
Speaker 1: to part with money on things that matter and then

825
00:37:02,520 --> 00:37:04,000
Speaker 1: and then to be able to even enjoy the things

826
00:37:04,280 --> 00:37:06,920
Speaker 1: that you do buy that you should be able to appreciate,

827
00:37:07,080 --> 00:37:09,120
Speaker 1: but sometimes you find it difficult because you realize it

828
00:37:09,160 --> 00:37:10,920
Speaker 1: costs you money. And that's okay. I think you just

829
00:37:10,960 --> 00:37:13,719
Speaker 1: have to realize that's okay, and you should be able

830
00:37:13,760 --> 00:37:16,040
Speaker 1: to be thankful for that purchase without beating yourself up

831
00:37:16,040 --> 00:37:17,960
Speaker 1: over it. Sure. Yeah, I mean you said to be thankful.

832
00:37:17,960 --> 00:37:19,279
Speaker 1: I feel like that. That's one of the things he

833
00:37:19,360 --> 00:37:21,760
Speaker 1: said was to literally look at money and to literally

834
00:37:21,880 --> 00:37:24,279
Speaker 1: say thank you to it for the value that it's

835
00:37:24,360 --> 00:37:26,040
Speaker 1: about to bring into your life on the things that

836
00:37:26,120 --> 00:37:27,480
Speaker 1: you are going to spend your money on. It just

837
00:37:27,560 --> 00:37:30,720
Speaker 1: changes your experience as you're buying things. And it sounded

838
00:37:30,719 --> 00:37:32,120
Speaker 1: a little hokey to me, I think at the time

839
00:37:32,160 --> 00:37:33,880
Speaker 1: when he said it, But yeah, when you whatever it is,

840
00:37:33,920 --> 00:37:35,759
Speaker 1: when you swipe your card or however it is that

841
00:37:35,760 --> 00:37:37,759
Speaker 1: you're spending money, being able to say thank you and

842
00:37:37,800 --> 00:37:41,160
Speaker 1: be appreciative for it kind of changes your interaction to

843
00:37:41,160 --> 00:37:43,359
Speaker 1: the things that you're buying totally. So we just kind

844
00:37:43,360 --> 00:37:45,400
Speaker 1: of talked through some of the different ways to approach

845
00:37:45,560 --> 00:37:47,719
Speaker 1: spending money in a way that's going to move the

846
00:37:47,760 --> 00:37:50,439
Speaker 1: needle in your life, you know, hopefully. Yeah, you are,

847
00:37:50,560 --> 00:37:51,880
Speaker 1: like you do reach the end of your life and

848
00:37:51,960 --> 00:37:54,360
Speaker 1: maybe you're lying there in your deathbed and you're surrounded

849
00:37:54,360 --> 00:37:56,600
Speaker 1: by people who love you and awesome folk, part people

850
00:37:56,600 --> 00:38:00,759
Speaker 1: who have people who have, uh, you know, brought so

851
00:38:00,840 --> 00:38:02,799
Speaker 1: much meaning and joy to your life as opposed to

852
00:38:02,840 --> 00:38:05,000
Speaker 1: just piles of cash. And maybe it is that fenster

853
00:38:05,040 --> 00:38:06,560
Speaker 1: that you went back and purchase rol and you've got

854
00:38:06,600 --> 00:38:09,480
Speaker 1: it there on the hospital wall hanging right over me.

855
00:38:10,239 --> 00:38:11,560
Speaker 1: Is that that's one thing that you can do with

856
00:38:11,560 --> 00:38:13,759
Speaker 1: your money? But what else can you do with your money?

857
00:38:14,120 --> 00:38:17,440
Speaker 1: We have a couple other suggestions for you, and we'll

858
00:38:17,440 --> 00:38:28,560
Speaker 1: get to those right after this. All right, mat, let's

859
00:38:28,600 --> 00:38:30,640
Speaker 1: keep going. Let's talk about dying destituo. That's what we're

860
00:38:30,640 --> 00:38:32,799
Speaker 1: talking about on this episode. And I think we gave

861
00:38:33,239 --> 00:38:36,719
Speaker 1: some helpful framework for for spending, for spending on things

862
00:38:36,719 --> 00:38:39,279
Speaker 1: that matter to you, for then taking joy in the

863
00:38:39,320 --> 00:38:42,880
Speaker 1: spending that you're doing, instead of haranguing yourself basically for

864
00:38:42,920 --> 00:38:46,439
Speaker 1: every dime or nickel that you're parting with. But let's

865
00:38:46,480 --> 00:38:48,479
Speaker 1: let's talk. But what we're talking about, like dying with zero,

866
00:38:48,520 --> 00:38:50,600
Speaker 1: I think part of kind of what we're honing in

867
00:38:50,640 --> 00:38:54,200
Speaker 1: on um, you know, despite the title, in fact, I

868
00:38:54,239 --> 00:38:57,000
Speaker 1: don't think dyeing destito like we've made jokes about this,

869
00:38:57,040 --> 00:38:59,080
Speaker 1: but it's not exactly what we're looking to name for

870
00:38:59,160 --> 00:39:02,440
Speaker 1: like literally spending our last dime as we're breathing our

871
00:39:02,520 --> 00:39:05,160
Speaker 1: last breath, because that's kind of impossible to make happen,

872
00:39:05,520 --> 00:39:07,800
Speaker 1: but especially since we don't know how long we're actually

873
00:39:07,800 --> 00:39:10,279
Speaker 1: going to live, and and you know, rapid keep you

874
00:39:10,360 --> 00:39:12,800
Speaker 1: keep a stack of your final like hundred dollar bills

875
00:39:12,840 --> 00:39:16,040
Speaker 1: and just like rather the last second you're like exactly,

876
00:39:16,320 --> 00:39:18,520
Speaker 1: then you kick it. Yes, I mean, that'd be amazing

877
00:39:18,520 --> 00:39:20,359
Speaker 1: if you could time it that way well. And and

878
00:39:20,560 --> 00:39:23,560
Speaker 1: the truth is rapid medical progress it could mean lots

879
00:39:23,560 --> 00:39:26,440
Speaker 1: of us living past us, more of us. I mean,

880
00:39:26,480 --> 00:39:29,759
Speaker 1: there's people living into their hundred fifteen plus years old,

881
00:39:30,239 --> 00:39:32,040
Speaker 1: not many, but more that could be in sore for

882
00:39:32,120 --> 00:39:35,640
Speaker 1: more people, or even I don't know, maybe harvesting my

883
00:39:35,680 --> 00:39:37,040
Speaker 1: brain to live in some sort of goo and and

884
00:39:37,040 --> 00:39:39,120
Speaker 1: I'm still sentience. I don't know what that's gonna look like.

885
00:39:39,480 --> 00:39:41,960
Speaker 1: But really, it's impossible to make a financial plan that

886
00:39:42,000 --> 00:39:44,920
Speaker 1: allows us to spend our last remaining dollars on the

887
00:39:44,960 --> 00:39:47,680
Speaker 1: actual last day of our lives. And although there are

888
00:39:47,719 --> 00:39:52,000
Speaker 1: some financial instruments insurance like annuities mostly that can help

889
00:39:52,000 --> 00:39:53,680
Speaker 1: you take the money you've saved and turn it into

890
00:39:53,760 --> 00:39:56,799
Speaker 1: a regular income stream, but a lot of those are

891
00:39:56,800 --> 00:39:59,239
Speaker 1: actually overly complex and they cost too much money. We

892
00:39:59,280 --> 00:40:01,840
Speaker 1: would say the is just no financial product in existence

893
00:40:02,000 --> 00:40:04,719
Speaker 1: that can allow you to perfectly tackle this conundrum. But

894
00:40:04,760 --> 00:40:06,839
Speaker 1: it's just worth mentioning though that because if you're looking

895
00:40:06,880 --> 00:40:09,160
Speaker 1: for an easy way to ensure that your account balance

896
00:40:09,239 --> 00:40:12,000
Speaker 1: hits zero, you know, right as you're passing away, nothing

897
00:40:12,280 --> 00:40:16,160
Speaker 1: of the sort exists. Some financial padding is always needed,

898
00:40:16,200 --> 00:40:18,400
Speaker 1: and so you can never be so frivolous right that

899
00:40:18,440 --> 00:40:21,040
Speaker 1: you're spending it all down hoping to get the timing right,

900
00:40:21,239 --> 00:40:24,279
Speaker 1: or that you can buy the perfect financial product to

901
00:40:24,440 --> 00:40:28,279
Speaker 1: ensure that you're maximizing every single dollar, like there's some

902
00:40:28,280 --> 00:40:31,040
Speaker 1: amount a margin needed all along the way, and so

903
00:40:31,120 --> 00:40:33,560
Speaker 1: that the question still remains then, so other than spending

904
00:40:33,560 --> 00:40:37,719
Speaker 1: your money hopefully in an unostentatious way, what else are

905
00:40:37,719 --> 00:40:39,840
Speaker 1: you going to do with your money? And kind of

906
00:40:39,880 --> 00:40:42,360
Speaker 1: going back to how I kicked the episode off with

907
00:40:42,360 --> 00:40:44,839
Speaker 1: Andrew Carnegie, so this is back he's the richest man

908
00:40:44,840 --> 00:40:47,759
Speaker 1: in the world at the time. He noted that there

909
00:40:47,760 --> 00:40:50,759
Speaker 1: were basically three things that you could do with your

910
00:40:50,800 --> 00:40:53,880
Speaker 1: excess wealth. Um, once you are nearing the end of

911
00:40:53,920 --> 00:40:56,400
Speaker 1: your life, you can either leave it to your kids. Uh,

912
00:40:56,600 --> 00:40:59,160
Speaker 1: you can designate that it goes to charity or to

913
00:40:59,520 --> 00:41:03,960
Speaker 1: other public purposes once you die, or you can determine

914
00:41:03,960 --> 00:41:07,439
Speaker 1: where it should go while you are still alive, where

915
00:41:07,440 --> 00:41:08,800
Speaker 1: you're able to see the good that it's going to

916
00:41:08,880 --> 00:41:11,759
Speaker 1: be able to provide your community, or even for your

917
00:41:11,880 --> 00:41:14,200
Speaker 1: entire country or the world. If you're a high roller

918
00:41:14,320 --> 00:41:18,280
Speaker 1: like Andrew Carnegie. Uh, and so he quickly dismisses leaving

919
00:41:18,520 --> 00:41:20,720
Speaker 1: large amounts of wealth to your kids because it often

920
00:41:21,160 --> 00:41:23,400
Speaker 1: uh and this these are his words. This is a quote.

921
00:41:23,520 --> 00:41:26,120
Speaker 1: He said that it often works more for the injury

922
00:41:26,360 --> 00:41:30,360
Speaker 1: rather than the good other recipients, which are some incredibly

923
00:41:30,360 --> 00:41:34,919
Speaker 1: wise words that he wrote back in because ancient wisdom. Yeah,

924
00:41:34,920 --> 00:41:37,120
Speaker 1: this is this is way before research that we have

925
00:41:37,160 --> 00:41:40,960
Speaker 1: today showing that seven it's something like se of inherited

926
00:41:41,000 --> 00:41:45,040
Speaker 1: wealth is lost in the second generation and then is

927
00:41:45,080 --> 00:41:48,560
Speaker 1: lost in the third generation. So oftentimes the money, uh,

928
00:41:48,719 --> 00:41:50,719
Speaker 1: larger amounts of money like this that we leave to

929
00:41:50,800 --> 00:41:53,560
Speaker 1: our kids gets squandered and it does them more harm

930
00:41:53,640 --> 00:41:55,600
Speaker 1: than good. Yeah, and I threw just a tiny bit

931
00:41:55,640 --> 00:41:58,359
Speaker 1: of shade at Cody Sanchez earlier. Are a recent guest who,

932
00:41:58,400 --> 00:42:01,080
Speaker 1: by the way, absolutely love what she does. Let me

933
00:42:01,160 --> 00:42:03,480
Speaker 1: let me say the opposite, something you get regrets. No.

934
00:42:04,160 --> 00:42:06,760
Speaker 1: She when she talked about she talked about second generation

935
00:42:06,760 --> 00:42:10,839
Speaker 1: immigrant mentality and how giving your kids you're sending your

936
00:42:11,080 --> 00:42:13,640
Speaker 1: kids up for failure if you give them, uh two

937
00:42:13,719 --> 00:42:15,840
Speaker 1: nice of things, right, if you're not asking enough of

938
00:42:15,880 --> 00:42:17,960
Speaker 1: them when they're young. And I think that's important. I

939
00:42:17,960 --> 00:42:21,040
Speaker 1: think that goes directly in line with Andrew Carnegie's quote

940
00:42:21,040 --> 00:42:23,799
Speaker 1: here that basically, yeah, you're you're doing more harm than

941
00:42:23,840 --> 00:42:26,080
Speaker 1: good for your kids if you leave them vast sums

942
00:42:26,080 --> 00:42:28,240
Speaker 1: of money. It doesn't mean that you don't give them anything,

943
00:42:28,480 --> 00:42:31,280
Speaker 1: and that you don't give them some money maybe along

944
00:42:31,400 --> 00:42:34,000
Speaker 1: the way, especially while you're still living, when you can

945
00:42:34,040 --> 00:42:37,120
Speaker 1: see the benefit the fruition of the money that you're

946
00:42:37,160 --> 00:42:39,640
Speaker 1: giving to them. And I'm still stuck on the fact

947
00:42:39,640 --> 00:42:42,360
Speaker 1: that you keep saying Carnegie as opposed to Carnegie is

948
00:42:42,360 --> 00:42:44,560
Speaker 1: I think it is Carnegie Carnegie. Okay. I don't know

949
00:42:44,560 --> 00:42:47,280
Speaker 1: who's right, but to motto, okay, we can say however

950
00:42:47,320 --> 00:42:50,239
Speaker 1: we want. Well, uh and yeah, basically he didn't think

951
00:42:50,239 --> 00:42:53,319
Speaker 1: of leaving much of leaving your money to charity after

952
00:42:53,360 --> 00:42:55,760
Speaker 1: you die, and so basically, you know, the best remaining

953
00:42:55,760 --> 00:42:59,719
Speaker 1: option is to give money along the way before you

954
00:43:00,440 --> 00:43:03,279
Speaker 1: ultimately pass on, And man makes me think, like, you know,

955
00:43:03,520 --> 00:43:05,799
Speaker 1: you and I we have a lot of affinity for

956
00:43:05,840 --> 00:43:08,719
Speaker 1: Warren Buffett, but we're not keen to have as much

957
00:43:08,719 --> 00:43:11,759
Speaker 1: money as he's got, and we don't really love his

958
00:43:11,880 --> 00:43:14,360
Speaker 1: method for passing it on instead of amassing the biggest

959
00:43:14,400 --> 00:43:17,920
Speaker 1: pile possible and then leaving it behind your favorite charities.

960
00:43:18,360 --> 00:43:19,759
Speaker 1: You and I, we'd like to see some of that work,

961
00:43:20,080 --> 00:43:22,000
Speaker 1: that money at work while we can see the effects

962
00:43:22,040 --> 00:43:24,360
Speaker 1: of it, even if that means there's less money to give. Like,

963
00:43:24,400 --> 00:43:27,680
Speaker 1: Warren is obsessed with compounding returns, and because of that,

964
00:43:27,760 --> 00:43:30,160
Speaker 1: he thinks he can do the most good by investing

965
00:43:30,200 --> 00:43:31,880
Speaker 1: in creating the most amount of wealth that he can

966
00:43:31,960 --> 00:43:34,399
Speaker 1: leave when he does pass. But we think there's there's

967
00:43:34,400 --> 00:43:37,239
Speaker 1: even more value for the giver and for the recipient

968
00:43:37,400 --> 00:43:39,239
Speaker 1: to be able to give along the way when you're

969
00:43:39,239 --> 00:43:41,279
Speaker 1: still living. Yeah, I think there's something a little more

970
00:43:41,280 --> 00:43:45,319
Speaker 1: powerful when you are choosing to give away something that

971
00:43:45,360 --> 00:43:47,480
Speaker 1: you could instead keep for yourself, right, Like, there's a

972
00:43:47,480 --> 00:43:51,480
Speaker 1: certain vulnerability, uh in giving up something as opposed to

973
00:43:51,600 --> 00:43:53,879
Speaker 1: just giving what's like what's left over, like literally feels

974
00:43:53,880 --> 00:43:56,560
Speaker 1: like leftovers. Right, if you if you until you until

975
00:43:56,560 --> 00:43:58,239
Speaker 1: you die, you're kind of like, all right, well, I

976
00:43:58,280 --> 00:43:59,960
Speaker 1: can't use that anymore. So once you go ahead, help

977
00:43:59,960 --> 00:44:02,000
Speaker 1: you something warrants case, it's it's it's a whole lot

978
00:44:02,040 --> 00:44:04,640
Speaker 1: of scraps from the table. But still not to say

979
00:44:04,680 --> 00:44:07,160
Speaker 1: that he I mean, he's got the Buffet Foundation, like

980
00:44:07,200 --> 00:44:09,200
Speaker 1: there is a that they you know, he's seriously giving

981
00:44:09,200 --> 00:44:12,279
Speaker 1: away a lot of money, but not nearly as much

982
00:44:12,320 --> 00:44:14,560
Speaker 1: in proportion to his actual net worth. And he's at

983
00:44:14,560 --> 00:44:17,520
Speaker 1: the stage in life to where like Andrew Carnegie Carneggie

984
00:44:17,560 --> 00:44:19,680
Speaker 1: as as you know, but like he spent the last

985
00:44:19,680 --> 00:44:22,560
Speaker 1: twenty years of his life I think just unleashing his

986
00:44:22,640 --> 00:44:25,600
Speaker 1: wealth and starting found just all the things that he

987
00:44:25,640 --> 00:44:28,120
Speaker 1: donated his money to. And someone like Warren Buffett is

988
00:44:28,880 --> 00:44:30,799
Speaker 1: I don't know, like how much longer does he have?

989
00:44:31,800 --> 00:44:33,840
Speaker 1: It seems obviously hope a lot longer. I hope a

990
00:44:33,880 --> 00:44:36,840
Speaker 1: lot longer as well. Absolutely, But he is one old dude,

991
00:44:37,000 --> 00:44:39,080
Speaker 1: and you would think that you would want to start

992
00:44:39,080 --> 00:44:42,760
Speaker 1: shifting gears in order to see your money firsthand impact

993
00:44:42,840 --> 00:44:45,320
Speaker 1: people positively. And so now I kind of feel like

994
00:44:45,320 --> 00:44:47,880
Speaker 1: we're being a little too hard on Warren Buffet because

995
00:44:48,120 --> 00:44:50,279
Speaker 1: you know, he has done a whole lot of good um,

996
00:44:50,280 --> 00:44:53,360
Speaker 1: But it's worth mentioning as well though that like generosity,

997
00:44:53,360 --> 00:44:56,320
Speaker 1: it doesn't always have to look like giving mass vast

998
00:44:56,400 --> 00:44:59,000
Speaker 1: sums of money to nonprofits, you know, like spending your

999
00:44:59,000 --> 00:45:01,200
Speaker 1: money on others you care about. Like that's what we're

1000
00:45:01,200 --> 00:45:05,080
Speaker 1: talking about. Our friend Jack over at the blog Young Money.

1001
00:45:05,440 --> 00:45:08,000
Speaker 1: His grandma she offered to take him anywhere in the

1002
00:45:08,000 --> 00:45:10,600
Speaker 1: world back when, like he was eleven years old. He

1003
00:45:10,800 --> 00:45:13,640
Speaker 1: wrote about this recently. Uh, and so for him going

1004
00:45:13,680 --> 00:45:16,920
Speaker 1: on on African safari as a preteen, that had a

1005
00:45:16,960 --> 00:45:19,440
Speaker 1: massive eye opening impact on his life. And so do

1006
00:45:19,440 --> 00:45:22,520
Speaker 1: you think he would have preferred a larger inheritance or

1007
00:45:22,560 --> 00:45:26,120
Speaker 1: instead to have those rich memories and that incredible experience

1008
00:45:26,160 --> 00:45:28,239
Speaker 1: with his grandma. Grandma, how about don't buy me the

1009
00:45:28,239 --> 00:45:30,480
Speaker 1: plane ticket or the hotel room and then stick in

1010
00:45:30,480 --> 00:45:32,200
Speaker 1: the SMP and then give me the compound and ray

1011
00:45:32,200 --> 00:45:34,600
Speaker 1: to return once you do eventually die. Like, no, the

1012
00:45:34,640 --> 00:45:37,200
Speaker 1: memory matters more than that, absolutely, Yeah, And you know

1013
00:45:37,400 --> 00:45:40,480
Speaker 1: this is not a super simple thing to balance as well,

1014
00:45:40,520 --> 00:45:42,759
Speaker 1: you know, like being more generous with those closest to

1015
00:45:42,840 --> 00:45:46,360
Speaker 1: us now versus sacking away God's more money. But it

1016
00:45:46,560 --> 00:45:48,520
Speaker 1: is something that we should all consider more closely. And

1017
00:45:48,719 --> 00:45:50,600
Speaker 1: I think it's important to note that if you are

1018
00:45:50,640 --> 00:45:53,120
Speaker 1: financially able, I think something as simple as just buying

1019
00:45:53,640 --> 00:45:56,480
Speaker 1: breakfast for a friend or buying a beer like that

1020
00:45:56,560 --> 00:45:59,400
Speaker 1: can be a meaningful gesture. It doesn't have to be

1021
00:45:59,440 --> 00:46:03,439
Speaker 1: this epic trip halfway around the world where you are

1022
00:46:03,480 --> 00:46:05,719
Speaker 1: planning for months or years in advance. It can be

1023
00:46:05,760 --> 00:46:08,720
Speaker 1: something as as small as just kind of covering the ticket. Yeah, agreed,

1024
00:46:08,880 --> 00:46:10,680
Speaker 1: that goes along with tab Like when someone does that

1025
00:46:10,880 --> 00:46:13,040
Speaker 1: for me, like when a friend buys a round of beers,

1026
00:46:13,280 --> 00:46:15,799
Speaker 1: it just what a sweet thing. That generosity goes a

1027
00:46:15,800 --> 00:46:19,680
Speaker 1: long way, right, And it's such such a good relational

1028
00:46:19,800 --> 00:46:21,439
Speaker 1: building thing that if you can do that for other people,

1029
00:46:21,440 --> 00:46:23,600
Speaker 1: it makes me want to then do that more for others.

1030
00:46:23,640 --> 00:46:25,319
Speaker 1: So it's like, let me let me grab lunch here,

1031
00:46:25,360 --> 00:46:28,319
Speaker 1: let me let me pay for breakfast, Yeah, exactly, send

1032
00:46:28,360 --> 00:46:29,920
Speaker 1: stuff to people, right, more thank you letters, all that

1033
00:46:30,000 --> 00:46:32,080
Speaker 1: kind of stuff. Well, and when we're talking about dying

1034
00:46:32,120 --> 00:46:34,480
Speaker 1: destitute here, Matt, like, we're not just talking about like

1035
00:46:34,600 --> 00:46:36,879
Speaker 1: literally passing away with zero dollars for bank account. We're

1036
00:46:36,880 --> 00:46:40,160
Speaker 1: talking about maximizing every dollar that you have in this life.

1037
00:46:40,360 --> 00:46:43,640
Speaker 1: We're talking about focusing more on what that dollar can

1038
00:46:43,680 --> 00:46:46,239
Speaker 1: do to create better results for you now and how

1039
00:46:46,239 --> 00:46:48,600
Speaker 1: that means you should probably be thinking less about amassing

1040
00:46:48,880 --> 00:46:51,239
Speaker 1: this gigantic nest egg. And I think some of those

1041
00:46:51,280 --> 00:46:54,040
Speaker 1: retirement commercials, especially from like ten years ago, or it's

1042
00:46:54,040 --> 00:46:56,440
Speaker 1: like what's your retirement number, it's just me It like

1043
00:46:56,520 --> 00:46:58,160
Speaker 1: gets people in a tizzy. Man. They get worried, like

1044
00:46:58,200 --> 00:47:00,000
Speaker 1: I've got to save up three point five million dollars.

1045
00:47:00,040 --> 00:47:01,920
Speaker 1: That's so much money to be able to afford my

1046
00:47:02,000 --> 00:47:04,840
Speaker 1: lifestyle in retirement. And I think it's not that we shouldn't.

1047
00:47:04,840 --> 00:47:08,400
Speaker 1: Of course, we talked a lot about about saving and

1048
00:47:08,440 --> 00:47:11,200
Speaker 1: investing for your future. It's really important. But I think

1049
00:47:11,239 --> 00:47:13,279
Speaker 1: when we focus so much on that that we we

1050
00:47:13,400 --> 00:47:16,560
Speaker 1: forget about maximizing our dollars in the here and now.

1051
00:47:16,920 --> 00:47:18,840
Speaker 1: We're missing out on something. And so you and I

1052
00:47:18,880 --> 00:47:21,080
Speaker 1: we still believe that the hot the money way that

1053
00:47:21,120 --> 00:47:23,799
Speaker 1: we've espoused for years now is the is the best

1054
00:47:23,840 --> 00:47:26,920
Speaker 1: happy medium route to financial and personal success. You know,

1055
00:47:26,960 --> 00:47:29,839
Speaker 1: saving and investing regularly so that we have more flexibility

1056
00:47:29,840 --> 00:47:31,799
Speaker 1: and options. That's a crucial part of it, because we

1057
00:47:31,840 --> 00:47:34,080
Speaker 1: never know what sort of storm could could be coming

1058
00:47:34,120 --> 00:47:36,120
Speaker 1: on the horizon and you never know what kind of

1059
00:47:36,120 --> 00:47:37,920
Speaker 1: options you're gonna want to have in the future. But

1060
00:47:37,960 --> 00:47:40,080
Speaker 1: at the same time, it's massively important to pick a

1061
00:47:40,120 --> 00:47:42,800
Speaker 1: couple of craft beer equivalents. You know, ask yourself the

1062
00:47:42,880 --> 00:47:45,440
Speaker 1: question where to spending more money move the needle for

1063
00:47:45,480 --> 00:47:47,480
Speaker 1: you in a major way, And when you find those

1064
00:47:47,480 --> 00:47:49,640
Speaker 1: craft per equivalents, it makes it easier to cut back

1065
00:47:49,640 --> 00:47:52,359
Speaker 1: in those other areas of your life, funneling more money

1066
00:47:52,400 --> 00:47:53,799
Speaker 1: towards the things that matter in the here and now,

1067
00:47:53,920 --> 00:47:58,040
Speaker 1: and also towards your your future long term uh, investments

1068
00:47:58,080 --> 00:48:00,440
Speaker 1: that are going to give you those those additional as

1069
00:48:00,480 --> 00:48:02,239
Speaker 1: you do get older. That's right. Yeah, I think this

1070
00:48:02,320 --> 00:48:05,040
Speaker 1: is a good reminder that the window of opportunity to

1071
00:48:05,160 --> 00:48:07,520
Speaker 1: make more memories isn't as long as you think it is.

1072
00:48:07,600 --> 00:48:09,920
Speaker 1: You know, like just the fact, like just being aware

1073
00:48:10,280 --> 00:48:12,640
Speaker 1: that your time is limited. I think that can have

1074
00:48:12,640 --> 00:48:15,640
Speaker 1: an impact on how you experience it. Now makes me

1075
00:48:15,680 --> 00:48:17,400
Speaker 1: think of like our our oldest daughter. I mean, she's

1076
00:48:17,480 --> 00:48:21,640
Speaker 1: nine years old. We're literally halfway through her living with us. Well,

1077
00:48:21,960 --> 00:48:24,319
Speaker 1: we're at the halfway point. Beyond that, she's likely going

1078
00:48:24,400 --> 00:48:27,160
Speaker 1: to go off to college and we'll never see her

1079
00:48:27,160 --> 00:48:29,040
Speaker 1: every single day like we do to you know, now,

1080
00:48:29,280 --> 00:48:30,840
Speaker 1: it seems crazy to think that because she's just a

1081
00:48:30,880 --> 00:48:32,680
Speaker 1: little kid, and she ain't gonna be a little kid

1082
00:48:32,719 --> 00:48:34,239
Speaker 1: for for all that much longer. Take a gap here

1083
00:48:34,280 --> 00:48:36,960
Speaker 1: goes straight in an entrepreneurship though, and she's gonna be like, hey,

1084
00:48:37,000 --> 00:48:39,359
Speaker 1: can I let's stack out on one more year while

1085
00:48:39,400 --> 00:48:42,279
Speaker 1: I get the startup. Actually listen to that episode you

1086
00:48:42,360 --> 00:48:43,759
Speaker 1: did about it is it cost of college worth it?

1087
00:48:43,800 --> 00:48:45,520
Speaker 1: And so I think I'm gonna pass. Hey, I would

1088
00:48:45,560 --> 00:48:47,960
Speaker 1: be okay with that taking that More people need to

1089
00:48:47,960 --> 00:48:50,239
Speaker 1: consider taking that gap here, because like, who the heck

1090
00:48:50,320 --> 00:48:52,200
Speaker 1: knows what they actually want to be when they're eighteen

1091
00:48:52,280 --> 00:48:54,799
Speaker 1: years old, and in particular, signing up for a boat

1092
00:48:54,800 --> 00:48:56,879
Speaker 1: loaded debt in order to accomplish that thing, that goal

1093
00:48:56,960 --> 00:48:59,479
Speaker 1: that might seriously change. But you know, we were covering

1094
00:48:59,520 --> 00:49:01,160
Speaker 1: this topic to day because your life is made up

1095
00:49:01,200 --> 00:49:04,600
Speaker 1: of all sorts of experiences and different memories and individuals

1096
00:49:04,800 --> 00:49:08,160
Speaker 1: people in your life. Money is a crucial piece of

1097
00:49:08,160 --> 00:49:10,640
Speaker 1: that puzzle when it comes to having the freedom to

1098
00:49:10,840 --> 00:49:13,400
Speaker 1: enjoy all of the above. The more financial freedom, the

1099
00:49:13,440 --> 00:49:15,680
Speaker 1: more financially independent we are, the more that we have

1100
00:49:15,800 --> 00:49:18,600
Speaker 1: the ability to design our lives just as we see fit.

1101
00:49:19,000 --> 00:49:21,799
Speaker 1: But we can focus too much on the money side

1102
00:49:21,800 --> 00:49:24,360
Speaker 1: of things, on that aspect where we're building up a

1103
00:49:24,400 --> 00:49:27,760
Speaker 1: massive nest egg for some distant, far off future, and

1104
00:49:27,880 --> 00:49:31,600
Speaker 1: not enough on how to actually use that tool to

1105
00:49:31,800 --> 00:49:35,399
Speaker 1: use that money. Today, we're often using money itself as

1106
00:49:35,440 --> 00:49:40,080
Speaker 1: the measuring stick when life satisfaction is a far better measure. UH.

1107
00:49:40,120 --> 00:49:42,279
Speaker 1: And so at the same time as we're talking through that,

1108
00:49:42,280 --> 00:49:43,400
Speaker 1: you might be thinking, well, how the heck am I

1109
00:49:43,400 --> 00:49:45,800
Speaker 1: supposed to figure out? Like what this seems like maybe

1110
00:49:45,840 --> 00:49:49,239
Speaker 1: a very tall wall to get over? You know, it's

1111
00:49:49,239 --> 00:49:52,160
Speaker 1: just like how the Mary personal endeavor to partaken absolutely

1112
00:49:52,280 --> 00:49:55,040
Speaker 1: but simultaneously, we want you to know that we are

1113
00:49:55,080 --> 00:49:57,120
Speaker 1: here with you, and not too long ago, we put

1114
00:49:57,160 --> 00:50:00,760
Speaker 1: together this UH Money Mission Statement. Essentially, it's a worksheet

1115
00:50:00,760 --> 00:50:03,440
Speaker 1: where we just ask some different questions that we think

1116
00:50:03,680 --> 00:50:04,919
Speaker 1: is going to be able to help you to get

1117
00:50:04,960 --> 00:50:07,480
Speaker 1: closer to the things that are most important in your

1118
00:50:07,520 --> 00:50:11,200
Speaker 1: life that are gonna ultimately help you to direct where

1119
00:50:11,239 --> 00:50:12,920
Speaker 1: it is that you are spending your money, where it

1120
00:50:13,000 --> 00:50:14,960
Speaker 1: is that you are spending your time. And so we've

1121
00:50:14,960 --> 00:50:16,760
Speaker 1: got a link to that worksheet up on the website

1122
00:50:16,800 --> 00:50:18,440
Speaker 1: up in the show notes for this episode, But we

1123
00:50:18,480 --> 00:50:21,600
Speaker 1: think if you were to spend thirty thirty minutes, maybe

1124
00:50:21,600 --> 00:50:23,759
Speaker 1: even an hour thinking through some of these things, or

1125
00:50:23,800 --> 00:50:27,680
Speaker 1: maybe download it, uh, you read all the questions and

1126
00:50:27,680 --> 00:50:29,560
Speaker 1: then just like, well, let it start to stew in

1127
00:50:29,600 --> 00:50:31,879
Speaker 1: your mind, Like you don't have to sit down and

1128
00:50:31,960 --> 00:50:34,840
Speaker 1: immediately complete it, but just start chewing on these questions.

1129
00:50:34,840 --> 00:50:37,239
Speaker 1: And I think that could go a really long way.

1130
00:50:37,280 --> 00:50:39,600
Speaker 1: Is when it comes to the satisfaction that you're able

1131
00:50:39,640 --> 00:50:42,319
Speaker 1: to glean from this, the limited amount of time that

1132
00:50:42,360 --> 00:50:45,200
Speaker 1: we have here on earth, draw that balance that pendulum, man,

1133
00:50:45,200 --> 00:50:47,160
Speaker 1: I feel like it. Especially in the personal finance realm,

1134
00:50:47,200 --> 00:50:49,799
Speaker 1: it's really hard to talk about that well. And I

1135
00:50:49,840 --> 00:50:52,080
Speaker 1: think part of the reason for that is because money

1136
00:50:52,160 --> 00:50:53,920
Speaker 1: is seen as the end goal in so many of

1137
00:50:53,960 --> 00:50:57,240
Speaker 1: these discussions. But the truth is money is just a tool.

1138
00:50:57,360 --> 00:51:00,359
Speaker 1: Money is a necessary reality of life. But the more

1139
00:51:00,360 --> 00:51:03,480
Speaker 1: we prioritize money itself, the more we let some of

1140
00:51:03,520 --> 00:51:06,520
Speaker 1: those more important things slip away. And so it's important

1141
00:51:06,520 --> 00:51:08,759
Speaker 1: to bring it back to what actually matters and and

1142
00:51:08,760 --> 00:51:11,000
Speaker 1: so hopefully this episode helps you do that. And hopefully

1143
00:51:11,040 --> 00:51:13,640
Speaker 1: the how to money money mission statement that Matches talked

1144
00:51:13,640 --> 00:51:15,520
Speaker 1: about is one of those things that can help you

1145
00:51:15,600 --> 00:51:18,399
Speaker 1: kind of hone in on that a little bit more personally. Again,

1146
00:51:18,440 --> 00:51:19,919
Speaker 1: we'll link to that in the show notes. But Matt,

1147
00:51:20,120 --> 00:51:22,320
Speaker 1: let's let's mention the beer that we had on this episode.

1148
00:51:22,400 --> 00:51:24,760
Speaker 1: Let's get back to that. This one was raspberry Blush

1149
00:51:25,200 --> 00:51:27,960
Speaker 1: by mckeller. Speaking of things that matter, good beer, of

1150
00:51:28,000 --> 00:51:30,520
Speaker 1: course matters, and it is craft beer, is our craft

1151
00:51:30,520 --> 00:51:33,880
Speaker 1: beer equivalent. So what were your thoughts on this raspberry

1152
00:51:33,920 --> 00:51:37,160
Speaker 1: coffee Perlinervice? Yeah, So what's crazy is I did not

1153
00:51:37,280 --> 00:51:39,000
Speaker 1: read the label before I took my first sip, and

1154
00:51:39,040 --> 00:51:42,480
Speaker 1: I thought, what is up with this beer? Because the coffee,

1155
00:51:42,600 --> 00:51:45,239
Speaker 1: the coffee notes, they are present, yes, And before I

1156
00:51:45,320 --> 00:51:47,520
Speaker 1: knew that it was coffee, it almost to me tasted

1157
00:51:47,560 --> 00:51:51,440
Speaker 1: like this kind of mineral leadness, like like imagine Thanksgiving

1158
00:51:51,600 --> 00:51:54,920
Speaker 1: Day spices, like some of the different kind of very

1159
00:51:54,960 --> 00:51:58,480
Speaker 1: savory types of flavors that you might expect included in

1160
00:51:58,520 --> 00:52:00,759
Speaker 1: a Thanksgiving Day dinner. Like it. It almost had like

1161
00:52:00,800 --> 00:52:04,080
Speaker 1: this black peppery like flames or some bay leaves or something. Yeah. Yeah,

1162
00:52:04,120 --> 00:52:06,080
Speaker 1: But then I read the label was and it said coffee.

1163
00:52:06,080 --> 00:52:08,440
Speaker 1: I was like, oh, that's what it is. It's coffee.

1164
00:52:08,920 --> 00:52:12,040
Speaker 1: But Yeah, this is a really unique beer. I'm trying.

1165
00:52:12,040 --> 00:52:14,000
Speaker 1: I'm trying to figure out if it's I was trying

1166
00:52:14,040 --> 00:52:16,880
Speaker 1: to avoid until you like it or not. Like, you know,

1167
00:52:16,920 --> 00:52:19,120
Speaker 1: there's like some of the cheap coffees out there, and

1168
00:52:19,360 --> 00:52:21,800
Speaker 1: they've got like the like the sort of cheap flavors

1169
00:52:21,880 --> 00:52:23,640
Speaker 1: kind of like mixed in. I was trying to avoid

1170
00:52:23,680 --> 00:52:26,280
Speaker 1: those thoughts. Mckelly, there's no way mckelly's using cheap coffee.

1171
00:52:26,320 --> 00:52:27,640
Speaker 1: This had to be good. It's not that they're using

1172
00:52:27,680 --> 00:52:29,920
Speaker 1: chea coffee, but there's cheap coffee that exists that are

1173
00:52:30,000 --> 00:52:32,400
Speaker 1: just feel like that they're just pumped full of artificial flavoring,

1174
00:52:32,719 --> 00:52:35,240
Speaker 1: and I was trying not to think down that path. Instead,

1175
00:52:35,280 --> 00:52:37,800
Speaker 1: I'm like, I don't know, this is like quality German

1176
00:52:37,920 --> 00:52:41,560
Speaker 1: wheat beer that's infused with some fruit with some raspberry um.

1177
00:52:41,600 --> 00:52:43,000
Speaker 1: But yeah, I think I feel like this one was

1178
00:52:43,040 --> 00:52:45,120
Speaker 1: pretty good. Yeah I liked it. You probably liked him.

1179
00:52:45,239 --> 00:52:46,640
Speaker 1: I liked it a lot, Yeah I did. And it

1180
00:52:46,760 --> 00:52:50,799
Speaker 1: was a really interesting combo coffee and fruits. But this

1181
00:52:50,840 --> 00:52:53,120
Speaker 1: one was light and refreshing, and the first time I

1182
00:52:53,120 --> 00:52:54,880
Speaker 1: had like a coffee sour I think it was actually

1183
00:52:54,880 --> 00:52:56,279
Speaker 1: a wicked weed one and I was like, there's no

1184
00:52:56,320 --> 00:52:58,120
Speaker 1: way I'm gonna like this. Like coffee in a sour

1185
00:52:58,160 --> 00:53:01,640
Speaker 1: beer sounds repulsive. Coffe being a stout sounds delicious, like

1186
00:53:01,680 --> 00:53:04,000
Speaker 1: the roasty notes right to make sense. But I think

1187
00:53:04,080 --> 00:53:06,840
Speaker 1: actually I believe that. But I think coffee in this

1188
00:53:06,960 --> 00:53:09,319
Speaker 1: hour actually for me, it kind of works. And yeah,

1189
00:53:09,360 --> 00:53:11,560
Speaker 1: I kind of I dug this one nice. Yeah, it's definitely.

1190
00:53:11,560 --> 00:53:13,400
Speaker 1: I mean, I'm down to try anything, like, well, I

1191
00:53:13,440 --> 00:53:15,440
Speaker 1: go out and you know, buy this beer again. No,

1192
00:53:15,600 --> 00:53:18,239
Speaker 1: probably not, but I'm very experimental. I'm down pretty much

1193
00:53:18,239 --> 00:53:20,600
Speaker 1: try any any beer out there, at least once. Yeah,

1194
00:53:20,600 --> 00:53:22,960
Speaker 1: we try to pickle beer recently, and I don't know

1195
00:53:22,960 --> 00:53:24,759
Speaker 1: if I'll ever try another one of those games. But

1196
00:53:24,880 --> 00:53:26,880
Speaker 1: so I took home of the extra and like it.

1197
00:53:27,040 --> 00:53:28,920
Speaker 1: She has not tried it yet. I keep forgetting to

1198
00:53:28,920 --> 00:53:31,400
Speaker 1: be like pop it pour for her and just like

1199
00:53:31,400 --> 00:53:32,839
Speaker 1: slide it across the table and be like, hey maybe

1200
00:53:32,840 --> 00:53:34,400
Speaker 1: I got one for you. Yeah, take us over this.

1201
00:53:34,440 --> 00:53:36,440
Speaker 1: I mean, all right, that's gonna do it for this episode.

1202
00:53:36,480 --> 00:53:38,160
Speaker 1: We hope you find it helpful. Again. We'll put the

1203
00:53:38,160 --> 00:53:42,880
Speaker 1: link to that mission statements. I wanted to mission the

1204
00:53:42,960 --> 00:53:45,680
Speaker 1: artwork too. I hate to take it back to the beer.

1205
00:53:45,719 --> 00:53:47,160
Speaker 1: But like, I don't know how to describe it, but

1206
00:53:47,200 --> 00:53:49,880
Speaker 1: it's kind of got like this mid century kind of modern,

1207
00:53:50,280 --> 00:53:52,279
Speaker 1: like it's like mid century Dutch or something. I don't know,

1208
00:53:52,400 --> 00:53:55,400
Speaker 1: because it's very European looking. It's still lightful, the colors

1209
00:53:55,400 --> 00:53:57,279
Speaker 1: are beautiful. Yeah. Like, one of the things we were

1210
00:53:57,280 --> 00:53:59,479
Speaker 1: saying is that I would totally be willing to take

1211
00:53:59,520 --> 00:54:03,040
Speaker 1: their label artwork and hanging up at least here in

1212
00:54:03,120 --> 00:54:05,080
Speaker 1: the studio. Or if mckelly gave me like an unending

1213
00:54:05,080 --> 00:54:08,200
Speaker 1: supply of T shirts with their different different designs, I

1214
00:54:08,200 --> 00:54:10,439
Speaker 1: would wear them every day, every day the week. Awesome. Yeah,

1215
00:54:10,440 --> 00:54:12,399
Speaker 1: they're so cool, very cool. You can if you want

1216
00:54:12,400 --> 00:54:14,160
Speaker 1: to see this label, you can either head to the

1217
00:54:14,160 --> 00:54:16,759
Speaker 1: show notes or we'll post it up on Instagram as

1218
00:54:16,760 --> 00:54:19,640
Speaker 1: well at how the Money Pod. Yeah alright, now let's

1219
00:54:19,680 --> 00:54:21,239
Speaker 1: send it for real. Okay, alright, that's gonna do it

1220
00:54:21,280 --> 00:54:23,719
Speaker 1: for this episode until next time. Best Friends Out and

1221
00:54:23,760 --> 00:54:24,799
Speaker 1: Best Friends Out