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Speaker 1: Welcome to Had of Money. I'm Joel on Matt. Today

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Speaker 1: we're talking Forgotten four oh one. K's peaking pessimism and

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Speaker 1: loyalty is for losers.

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Speaker 2: Happy Friday everyone, He said, peaking pessimism. Did you ever

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Speaker 2: watch was it Peaky Blinders? No? But I have an

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Speaker 2: old school kill. She is a Mann. Yeah, he's He's

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Speaker 2: such a great actor. He really is, and I think

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Speaker 2: my respect for him went up. I read some interview

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Speaker 2: on him like this a couple of years ago, and

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Speaker 2: he is so out of uh, he's so disconnected from

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Speaker 2: like pop culture and technology. Like I'm gonna make this up,

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Speaker 2: but like he hardly even like has an email account,

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Speaker 2: and he does.

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Speaker 1: He doesn't even know that Travis and Taylor got engaged.

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Speaker 2: There's a jay Z. He's very very old school. I

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Speaker 2: respect that, but he's also at a position luxury or

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Speaker 2: privilege to be able to disconnect it.

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Speaker 1: But he's no Daniel day Lewis, who is apparently has

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Speaker 1: a new film coming out, but that his Sun directed.

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Speaker 1: Oh I saw that retired, but he came, he came

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Speaker 1: out of retirement. I'm totally gonna do it. Of course,

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Speaker 1: I'm gonna watch that movie. What's it about I don't

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Speaker 1: even care. I don't know. Daniel day Lewis is the

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Speaker 1: greatest actor of our time, so I will watch it.

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Speaker 2: I put him up there with Killian Early, Yeah, for sure.

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Speaker 2: But no, Okay, we're getting off track right right out

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Speaker 2: of the gay. This is our Friday flight when we're

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Speaker 2: going to talk about personal finance, not what movies.

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Speaker 1: Were excited to see this week. Well, one more little

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Speaker 1: quick side tangent. Let me tell you, Matt about my

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Speaker 1: recent trip to the woods of California, Central California.

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Speaker 2: Share it with me.

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Speaker 1: Okay, So in what I learned this there's a personal

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Speaker 1: financi lesson here, but really I just want to tell

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Speaker 1: you about my trip. There's a moral to the story, yeah,

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Speaker 1: to the lesson. So went with a bunch of friends

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Speaker 1: did a backpacking trip, like nine mile hike in to

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Speaker 1: this place called Thousand Island Lake right underneath this beautiful

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Speaker 1: mountain called Banner Peak in the Eastern sire As. It

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Speaker 1: was incredible.

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Speaker 2: Well, there are actually a thousand islands within this lake.

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Speaker 1: A lot of islands. I didn't count them, but I

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Speaker 1: was like, they probably like round it up. My guess I.

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Speaker 2: Would have said, like thirty five Yeah.

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Speaker 1: That was more than thirty five, but less than a thousand. Nice,

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Speaker 1: but it just sounds nice. So yeah, I just had

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Speaker 1: the best time completely checking out from reality email technology,

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Speaker 1: similar to Killian Murphy, right, like just not being engaged

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Speaker 1: with my phone and screens and all that kind of stuff.

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Speaker 1: That's half the half the glory I think of being

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Speaker 1: out there in the wilderness. But I think it just

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Speaker 1: also reminds me that I can do and actually enjoy

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Speaker 1: my life more with less that when my life is simplified,

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Speaker 1: I can actually find more piece more mental clarity, And

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Speaker 1: so I just I use it obviously, like I'm not

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Speaker 1: going to I'm not going to live out in the

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Speaker 1: woods a tent for the rest of my days. Are

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Speaker 1: you attempting to be a lot? I No, I'm know

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Speaker 1: Ralph Waldo Emerson like or Henry David Throw Henry. I

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Speaker 1: guess it's Throw not Emerson who lived in you know,

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Speaker 1: by Walden pond in that like ramshack hole, uh get

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Speaker 1: up that he had, but.

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Speaker 2: He only did that for like a couple of years. Yeah,

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Speaker 2: I think like two or three years.

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Speaker 1: Yeah, I think really, when you dig in, you're like, hey,

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Speaker 1: I don't even know that he committed as hard as

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Speaker 1: he made it sound.

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Speaker 2: Like, great job with the narrative, but I don't think

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Speaker 2: you actually you didn't fully commit, right right, So.

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Speaker 1: And neither shall I. Neither shall I. But I will

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Speaker 1: take lessons away from this and just it's a good

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Speaker 1: reminder to myself that I need a whole lot less

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Speaker 1: to be happy in that and that even actually sometimes

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Speaker 1: my happiness increases when I partake of a fewer things.

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Speaker 2: Totally. I do think that that is a great general

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Speaker 2: lesson that more folks probably need to hear, right, because

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Speaker 2: we're just trying to like stuff our lives, especially with

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Speaker 2: with stuff, because you're like, you know, sleeping on a

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Speaker 2: sleeping pad and a tent. You're like, I've got way

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Speaker 2: more stuff than this at home. Yeah, But I think

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Speaker 2: for a lot of the do think that more possessions

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Speaker 2: is the it is going to be the secret to

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Speaker 2: their happiness. But it's not to degrade or to demote

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Speaker 2: the like that's the craft beer equivalent. It's why we

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Speaker 2: have things that we love that truly do bring us

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Speaker 2: joy and light us up. I'm curious too if so

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Speaker 2: much of you finding maybe some contentment had to do

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Speaker 2: with the fact of not how you spent your money, right,

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Speaker 2: like the fact that you've got few possessions, because that

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Speaker 2: can take a weird left turn into like minimalism. Like

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Speaker 2: even that in and of itself becomes this cultural aesthetic

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Speaker 2: that cost that can cost a lot of money as

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Speaker 2: opposed to how you spent your time, because you were

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Speaker 2: talking about how your conversation having some awesome conversations with

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Speaker 2: these other dudes who are doing the same thing, and

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Speaker 2: there's nothing else there, you know, Like it's just kind

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Speaker 2: of you've like stripped down to your soul and so

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Speaker 2: you're able to connect like at a deeper level, which

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Speaker 2: I think is the more and more countercultural thing to

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Speaker 2: do in our current modern day lives that are so

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Speaker 2: full of noise, responsibilities, different things like that.

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Speaker 1: I think I think there's a lot of truth to that.

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Speaker 1: I think it's just like, hey, connection matters more than stuf.

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Speaker 1: But then the other thing is when you have to

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Speaker 1: go to the bathroom in a hole that you dug

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Speaker 1: in the ground with a trowel, you just really appreciate

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Speaker 1: the toilet when you come back, as opposed to just

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Speaker 1: thinking toilets are normal. You're like, thank God for indoor

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Speaker 1: plumbing because that isn't that wasn't normal for most of

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Speaker 1: human history.

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Speaker 2: That is a modern luxury. Yeah, I will take Yeah,

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Speaker 2: I'm not going to give up my toilet.

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Speaker 1: Same when you're like making food in a bag that

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Speaker 1: you bought at ARII or that kind of thing. You're

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Speaker 1: like when you get home and you have a My

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Speaker 1: buddy's wife made us a pot roast when we came back,

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Speaker 1: and it was like, it felt like the greatest thing

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Speaker 1: I'd ever eaten in my life, just because you're used

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Speaker 1: to eating something so lowly, the camp meal, and so yeah,

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Speaker 1: I guess all that stuff really factors in to make me.

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Speaker 1: It makes it an indelible experience that's like marked on

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Speaker 1: my person. But I also take something away from it

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Speaker 1: into normal life, and I just have a greater appreciation

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Speaker 1: for the things that maybe I at times took for

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Speaker 1: granted beforehand, it maybe often took for granted.

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Speaker 2: Provides Yeah, I could see it providing some good perspective. Yeah.

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Speaker 2: I bring that up because as I think, you know,

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Speaker 2: you're really okay, there's going to be a personal finance

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Speaker 2: element to this as well, But like, isn't that not

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Speaker 2: what we are striving towards? Like any time we talk

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Speaker 2: about being smarter with your money, and you're spending and

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Speaker 2: you're saving, and you're investing. We're we're trying to push

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Speaker 2: folks towards financial freedom, for some degree of financial independence,

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Speaker 2: and what is that except for the ability to have

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Speaker 2: control over your time and and the ability for us

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Speaker 2: to fill that time with things that matter more, which

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Speaker 2: is more difficult to quantify because, like you're having deeper

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Speaker 2: conversations in community relationship. These aren't things that you can

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Speaker 2: take a picture of, right, or something that you can

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Speaker 2: buy at the store that you can you can curate

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Speaker 2: on your fee to where you're demonstrating to other people that, oh,

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Speaker 2: I've got my life, like I've got the good life.

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Speaker 1: Right, Like a new car is not a screen grab

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Speaker 1: of an acount balance exactly.

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Speaker 2: Yeah, it's it's harder to quantify, But truly, I think

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Speaker 2: those are the kinds of things that aren't sexy because

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Speaker 2: they're tougher to quantify, but they are the things that

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Speaker 2: I think ultimately lead to greater level what greater levels

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Speaker 2: of happiness?

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Speaker 1: Okay, let's go from existential talk to investing talk, because

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Speaker 1: how do we get this is the place where you

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Speaker 1: greater levels?

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Speaker 2: How you get there.

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Speaker 1: Investing is part of it, right, let's do it. Has

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Speaker 1: anyone noticed, anyone out there noticed that the stock market

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Speaker 1: is doing pretty good, rightly, doing quite well. I noticed

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Speaker 1: all time highs on repeat. It feels it feels like

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Speaker 1: over over the last many months. And you know, the tariffs,

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Speaker 1: meddling with the Fed, they don't Neither of those things

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Speaker 1: seems to have had a negative impact on investors sentiment.

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Speaker 1: It's a everyone's just hitting the buy button. And this

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Speaker 1: has led not only to, like I said, record highs,

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Speaker 1: but record high valuations. And so the S and P

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Speaker 1: five hundred is trading at three point twenty five times earnings,

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Speaker 1: which is actually higher than it traded before the dot

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Speaker 1: com boom and bust happened. Right, So, I guess what

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Speaker 1: that means. What that signifies is that the stock market

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Speaker 1: is kind of frothy right now, and some folks are

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Speaker 1: starting to get nervous. Does this mean the stock market

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Speaker 1: is overvalued and then a correction is imminent? I don't know, potentially,

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Speaker 1: Like anyone's guess, it's really really hard to say. But

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Speaker 1: it's interesting to see, Matt. Even some of the people

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Speaker 1: that you and I tend to tend to look to

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Speaker 1: as really intelligent folks writing in the investing space. Like,

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Speaker 1: for instance, friend of the show Nick Maduli just wrote

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Speaker 1: about how he is making slight changes to his investments

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Speaker 1: because of where stocks are at from evaluation perspective. But

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Speaker 1: I found it interesting he's only making a slight change,

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Speaker 1: and the reason he gave for making the slight change

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Speaker 1: is not even because of high valuations. It's because of

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Speaker 1: his own goals are changing. There you go, He's like, Hey,

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Speaker 1: I just got married. I'm planning on buying a home soon.

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Speaker 1: That's why I'm actually going to change. And I'm still

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Speaker 1: eighty percent invested in stocks, but I have other goals

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Speaker 1: with some of these some of these investment dollars. So

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Speaker 1: I guess when it comes down to it, you and

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Speaker 1: I would say, yeah, correction could happen. There's a decent

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Speaker 1: chance a correction could happen, right, that's a normal part

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Speaker 1: of being an investor in the market. Sure returns could

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Speaker 1: be lower than average in the coming years, it wouldn't

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Speaker 1: surprise me. But if you've got a long enough timeline,

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Speaker 1: I think the advice is still to stay the course.

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Speaker 2: Yes, say the course man, and I think this is

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Speaker 2: a good reminder too, that the market going up into

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Speaker 2: the right, though, we can look back at history and

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Speaker 2: see that the market does that consistently, Like if you

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Speaker 2: look at an individual month or even a year, like

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Speaker 2: I think about twenty twenty two, when the market sure

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Speaker 2: is terrible, but you look at twenty three and twenty fours,

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Speaker 2: it's like, oh, those are really good, great years. When

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Speaker 2: you zoom out even further, you see that the market

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Speaker 2: does consistently go up into the right, but it doesn't

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Speaker 2: do it consecutively. There are years when, yeah, you're not

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Speaker 2: going to do so well. So if you are used

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Speaker 2: to consecutive years of seeing your returns in the twenty

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Speaker 2: percent plus range, it's not always going to be that way. Yeah,

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Speaker 2: So if you do want to continue to invest, though,

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Speaker 2: like we would recommend and suggest that you do, which

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Speaker 2: funds should you choose? There are now more ETFs than

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Speaker 2: individual stocks these days, as Sam Row he pointed out

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Speaker 2: morning Star, they've got data and they find that you

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Speaker 2: can invest in four thousand, three hundred and seventy ETFs,

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Speaker 2: but there's always something. There's only like four and seventy

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Speaker 2: two individual stocks, which is kind of crazy to think that, Wait,

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Speaker 2: how can there be more ETF and there are actual

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Speaker 2: companies that make up those ETFs. Yeah. I also appreciated

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Speaker 2: there's they were analogizing it though to like, hey, there's

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Speaker 2: only how many notes ore there, like twelve notes, but

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Speaker 2: there's like millions of songs out there, or there's like

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Speaker 2: there's only so many rests or so many ingredients that

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Speaker 2: go into making a recipe. It's just about how you

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Speaker 2: want to slice and dice it to basically suit your

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Speaker 2: own tastes or like we're just saying, your own goals.

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Speaker 1: And ETFs are kind of like the basket of funds

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Speaker 1: that you choose to invest in it that is the recipe. Yeah, yeah,

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Speaker 1: and you can Yeah, the number of baskets you can

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Speaker 1: create that is endless really when it comes to these

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Speaker 1: ETFs configurations.

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Speaker 2: Totally. Yeah. And it also makes me think about investing

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Speaker 2: in AI. Let's say that's something that you do want

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Speaker 2: to You're like, oh, yeah, maybe this is something I

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Speaker 2: should do well. Which are the three dozen specialty niche

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Speaker 2: ETFs that specialize in AI? Should you even choose, Joel,

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Speaker 2: are you investing in any AI funds? No?

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Speaker 1: Investing in companies that do AI? Just by fact of

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Speaker 1: investing in the s and P five hundred and thank you.

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Speaker 2: For proving making my point for me. Eight out of

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Speaker 2: the ten top companies that are in the SMP are

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Speaker 2: basically tech slash AI companies. In media, Microsoft Video is

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Speaker 2: like the most directly AI related, but like yeah, Google

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Speaker 2: slash out of the Amazon and Apple Tesla, these are

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Speaker 2: all companies that are leaning heavy into the AI AI space,

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Speaker 2: And honestly it even concerns me of how much like

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Speaker 2: back in the day, I remember thinking, no, the future

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Speaker 2: is all tech and like to that extent, a large

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Speaker 2: portion of our portfolio was Vanguard's tech ETF. But over

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Speaker 2: the years I changed my tune and move more to

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Speaker 2: the to the SMP. I even feel that way now

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Speaker 2: where I'm just like, man, the amount of weight that

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Speaker 2: is going into the tech sector, even with m SMP

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Speaker 2: makes me a little bit uncomfortable. But tech outperformance continue, Yeah, exactly.

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Speaker 2: So all that to say, I'm not specifically looking at

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Speaker 2: something that is AI or tech focus because the SMP

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Speaker 2: has a whole lot of that. Instead, I'm just sticking

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Speaker 2: with the general SMP and might even consider kind of

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Speaker 2: like dialing back even to a little bit more of

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Speaker 2: just the total stock market. I think too.

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Speaker 1: What this reveals is that there's a lot of choice

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Speaker 1: out there for an investor who individual investor is trying

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Speaker 1: to figure out how to proceed when it comes to investing,

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Speaker 1: and I think that abundance of choice can actually be difficult. Right,

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Speaker 1: Like you're you see this laundry list of ETFs and

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Speaker 1: you're like, well, which sector should I invest in? And

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Speaker 1: inside of that, like which brand name ETF should I

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Speaker 1: be going with? And like it can feel really overwhelming,

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Speaker 1: and it's like, I think ETFs. I would love for ETFs.

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Speaker 1: I love that companies can launch whatever ones that they want,

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Speaker 1: But in a lot of ways, I wish that for

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Speaker 1: individual investors it looked more like Aldi, where you walk

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Speaker 1: in and you're like, there's just fewer choices.

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Speaker 2: I've eliminated eliminated that paradox of choice.

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Speaker 1: So you just have to create figure out which ETFs

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Speaker 1: make the most sense for you, and that can be difficult.

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Speaker 1: So we suggest low cost, well diversified ETFs. And so, Matt,

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Speaker 1: the one that you're fond of have been talking about

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Speaker 1: for years VU, I love VU. That's a great one

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Speaker 1: to consider. F z Rocks from Fidelity. F z r

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Speaker 1: o X is the symbol is another great fund to

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Speaker 1: consider for especially for people in the wealth building phase

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Speaker 1: of their lives. But just know that there's like a

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Speaker 1: billion tways is out there essentially for you when it

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Speaker 1: comes to investing, but only a few that really make

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Speaker 1: a lot of sense. Are the really or even all

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Speaker 1: that necessary?

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Speaker 2: Totally another bad investing move, well, that might be forgetting

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Speaker 2: about your account altogether. USA today they report that there

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Speaker 2: is something like one point seven trillion dollars that's lost

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Speaker 2: currently in four oh one k accounts. The average lost

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Speaker 2: four one K balance is over fifty thousand dollars, which

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Speaker 2: you might be thinking, how is that possible? It's like

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Speaker 2: misplaced in your car or something.

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Speaker 1: It's not just like the the change in the couch cushions.

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Speaker 2: This is this far surpasses Yeah. But that being said,

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Speaker 2: you know it could have been an account from years

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Speaker 2: ago that was worth maybe a lot less at that

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Speaker 2: point in time. Certainly it's grown over time due to compounding. Right,

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Speaker 2: it's basically been working in the background on autopilot. And

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Speaker 2: I would say, if there is even a small chance

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Speaker 2: that you meet that you might be one of these folks,

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Speaker 2: head over to Unclaimed Retirement Benefits DOT com and you

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Speaker 2: can see if essentially you're like, oh wait a minute,

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Speaker 2: a forge, Yeah, yeah, there's there's this. I had a

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Speaker 2: four one K going on that I wasn't even contributing to.

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Speaker 2: My employer was taking care of it for me. We

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Speaker 2: just want to make sure that you are entitled to

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Speaker 2: all of your money that might be floating out there.

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Speaker 1: And give him how much we're talking about, like, it's

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Speaker 1: what did you say? It's like a fifth, a quarter

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Speaker 1: or something of all four one k money is in

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Speaker 1: these I.

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Speaker 2: Didn't say that, but I think that was in that art.

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Speaker 2: Yeah as well, it's crazy to think it's that much.

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Speaker 2: That is also beginning. Yeah, it's also an estimate, so

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Speaker 2: it's not like they have quantified every single one of

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Speaker 2: these dollars. These are estimates, but even still, the fact

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Speaker 2: that some of these estimates are that high makes me,

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Speaker 2: It makes me cringe a little bit. I feel bad

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Speaker 2: for all this folks on one hand. On the other hand,

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Speaker 2: I'm also a little actually kind of okay with it

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Speaker 2: because it tells me that these folks have been treating

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Speaker 2: their retirement dollars like they should, like you basically want

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Speaker 2: to almost have forgotten about it, not forgotten about it

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Speaker 2: so much that you actually forget that it exists.

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Speaker 1: Yeah, you still want access to those dollars in your

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Speaker 1: retirement years. So at Capitalized actually is a company that

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Speaker 1: we've talked about who can help you do rollovers for free. Well,

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Speaker 1: they can also help you find lost retirement accounts. We'll

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Speaker 1: link to that in the show notes. But yeah, if

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Speaker 1: you're like, I think I had a four one K

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Speaker 1: back in the day, I'm not sure. Given the incredible numbers,

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Speaker 1: the overall amount of outstanding four one K dollars that

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Speaker 1: people might have forgotten about, it's worth just worth doing

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Speaker 1: a search. All right, let's talk about let's talk about

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Speaker 1: hard work. Most Americans these days don't seem to think

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Speaker 1: that hard work pays off the ways that it used to.

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Speaker 1: This is according to a New Wall Street Journal survey.

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Speaker 1: So pessimistic beliefs they continue to increase, as something like

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Speaker 1: seventy percent of Americans they just don't believe or maybe

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Speaker 1: never believed, that working harder is going to help you

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Speaker 1: achieve the American dream. So in the year two thousand,

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Speaker 1: the opposite was true. It's like seventy five plus percent

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Speaker 1: of people thought that, yeah, if I work harder I

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Speaker 1: can achieve the American dream. Even as recently as two

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Speaker 1: thousand and five, it was a vast majority of people saying, yeah,

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Speaker 1: I also believe that. But for some reason the numbers

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Speaker 1: have become diametrically opposed, and a lot fewer people believe

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Speaker 1: that their life can be better than the one that

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Speaker 1: their parents lived. I don't know about you, but it's

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Speaker 1: kind of hard for me to pinpoint a specific reason

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Speaker 1: for this lack of hope. I think maybe higher prices

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Speaker 1: is part of that inflation. People feel like everything costs more,

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Speaker 1: and maybe my raises haven't been keeping up with that,

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Speaker 1: and so that does feel demoralizing, which I get, especially

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Speaker 1: when you're talking about home prices and younger generations who

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Speaker 1: are saying I would like to own a home, feels

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Speaker 1: like it's never going to happen given the current climate,

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Speaker 1: and then just general worry about the future. That seems

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Speaker 1: to be kind of maybe at the crux of I

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Speaker 1: totally agree of how people are feeling, and I think

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Speaker 1: we have to point out that it is true that

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Speaker 1: the economy has pain points for a lot of people.

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Speaker 1: It's not like the economy is humming along, working incredibly

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Speaker 1: for everyone. We talk about record highs. Well, there's a

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Speaker 1: significant number of Americans who don't have any money invested

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Speaker 1: in the stock market, so they're not feeling the benefits.

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Speaker 1: They're not feeling that massive net worth increase that people

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Speaker 1: who have been consistently investing have been seeing. And it

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Speaker 1: is true also that hard work alone doesn't necessarily mean

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Speaker 1: you're going to get meaningful results and build a whole

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Speaker 1: lot of wealth. But I think it's crucial to find

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Speaker 1: a way to provide value right in order to increase

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Speaker 1: your compensation, not just to work your butt off. It's

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Speaker 1: a little bit of both. But I also think that

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Speaker 1: pessimism can be this self fulfilling prophecy, and despite headwinds,

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Speaker 1: it's still really possible to live a great life and

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Speaker 1: to build wealth in this country. So I think very possible.

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Speaker 1: Seeing seeing these numbers just kind of, I don't know,

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Speaker 1: made me sad.

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Speaker 2: Yeah, I think this is an instance too where if

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Speaker 2: it bleeds, it leads right, Like this is the negative

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Speaker 2: headline it made, you know, it made the rounds. I'm

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Speaker 2: sure a lot of folks have maybe heard folks refer

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Speaker 2: to it. But like and I hate to be like

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Speaker 2: the old man yelling at the sky. But like, I

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Speaker 2: feel like this could be love it. I feel like

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Speaker 2: this could be an instance too to where we're just

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Speaker 2: spending too much time online. Yeah, like we like I

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Speaker 2: don't want to make everything about smartphones, but we're sitting

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Speaker 2: there on our devices. We're too online. We're being endlessly entertained,

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Speaker 2: We're endlessly scrolling, and even the very act of scrolling

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Speaker 2: without having as we're getting sucked into the algorithm. Like

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Speaker 2: that is just this discipline destroyer as opposed to getting

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Speaker 2: out there kicking butt, trying to find a way to

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Speaker 2: and it feels made your life better. It feels like

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Speaker 2: everyone else has a better life than us when we're scrolling,

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Speaker 2: you know, because guess what's the part of the algorithm?

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Speaker 2: Because guess what, That's exactly how I feel when I scroll. Ye,

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Speaker 2: And that's why I try to avoid it, because I

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Speaker 2: know what happens to me when I scroll. I think

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Speaker 2: other people are living their best life and I'm over

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Speaker 2: here living an average one. Yep, you don't want to

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Speaker 2: get sucked into that man, as opposed to the folks

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Speaker 2: who are actually out there taking risks. And I do

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Speaker 2: think like a part of the uncertainty, especially that we've

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Speaker 2: experienced over the past five years has led to like,

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Speaker 2: when there's uncertainty, you're just not sure what's what the

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Speaker 2: future holds, and so I think you are less likely

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Speaker 2: to take risks. But this reminds me of an article

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Speaker 2: I saw about gen Z entrepreneurs, because they're the ones

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Speaker 2: out there who are taking those risks, like working their

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Speaker 2: butts off, and specifically they're also trying to avoid the

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Speaker 2: office jobs that come with just a two percent anal

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Speaker 2: race in search of something that's more energizing, something that's

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Speaker 2: a bit more lucrative. High school grads, they are less

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Speaker 2: interested in paying for that two hundred thousand dollars degree

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Speaker 2: and instead or hopping into the workforce early, whether it's

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Speaker 2: this article documented folks becoming real estate agents, which is

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Speaker 2: a bit tougher to do right now, opting for specialized

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Speaker 2: like the trade work, basically like blue collar work, which man,

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Speaker 2: I totally appreciate this, you know, the enterprising nature that

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Speaker 2: gen Z seems to be reviving. I think the crucial

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Speaker 2: way to make sure the American dream works for you

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Speaker 2: is to avoid the major traps, right Like, you want

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Speaker 2: to zig while everyone else is zagging. And if the

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Speaker 2: college and you know, buying a home route. If those

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Speaker 2: paths are going to be too expensive, if it's going

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Speaker 2: to tie you down, well that's when you have the

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Speaker 2: opportunity to create a different dream that doesn't involve those things.

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Speaker 2: And that is the reason why I still think that

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Speaker 2: the US is still the best place for you to

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Speaker 2: essentially blaze your own trail.

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Speaker 1: It's better than the vast majority of the rest of

433
00:20:29,520 --> 00:20:32,159
Speaker 1: the world. And I think maybe two people assume when

434
00:20:32,160 --> 00:20:33,760
Speaker 1: we're talking about the American dream that it has to

435
00:20:33,800 --> 00:20:36,399
Speaker 1: look like this stock American lifestyle. I think the American

436
00:20:36,520 --> 00:20:37,960
Speaker 1: dream can look like whatever you wanted to look like.

437
00:20:37,960 --> 00:20:39,920
Speaker 1: That's what we're saying here, that's what's cool about it. Yeah,

438
00:20:39,920 --> 00:20:42,359
Speaker 1: it doesn't have to look like the four bedroom, three

439
00:20:42,400 --> 00:20:44,119
Speaker 1: bathroom house with the white pick offence. I think for

440
00:20:44,200 --> 00:20:48,160
Speaker 1: some people that is their dream, and maybe it's harder

441
00:20:48,200 --> 00:20:50,040
Speaker 1: to achieve that now that it has been in the past.

442
00:20:50,200 --> 00:20:52,320
Speaker 1: But for other people, it's living that van life right

443
00:20:52,720 --> 00:20:55,840
Speaker 1: and traveling around the country, which has in many ways

444
00:20:55,880 --> 00:20:59,359
Speaker 1: become easier than ever before to pull off. And I

445
00:20:59,359 --> 00:21:01,480
Speaker 1: guess I wonder if that's maybe some of the pessimism

446
00:21:01,840 --> 00:21:04,399
Speaker 1: too revealed in this survey. Is like, well, I can't

447
00:21:04,480 --> 00:21:10,080
Speaker 1: live that classic suburban nineteen sixties sort of lifestyle that

448
00:21:10,200 --> 00:21:14,119
Speaker 1: my parents lived, but maybe your American dream can look better,

449
00:21:14,280 --> 00:21:17,040
Speaker 1: just different, because I do think that people's hopes and

450
00:21:17,040 --> 00:21:19,680
Speaker 1: aspirations have actually changed. What people want out of life

451
00:21:19,880 --> 00:21:21,159
Speaker 1: has changed, since I think.

452
00:21:21,040 --> 00:21:23,920
Speaker 2: You're saying basically, do you even want that? Right? Yeah?

453
00:21:24,000 --> 00:21:26,040
Speaker 1: And I love I love to see because I think

454
00:21:26,080 --> 00:21:28,720
Speaker 1: gen Z there's a lot of you know, intergenerational picking

455
00:21:30,000 --> 00:21:32,520
Speaker 1: but okay, boomer, that kind of sort of thing. But

456
00:21:32,760 --> 00:21:35,159
Speaker 1: I love that gen Z seems to be taking this

457
00:21:35,440 --> 00:21:38,320
Speaker 1: tact where they're kind of grabbing life by the reins

458
00:21:38,440 --> 00:21:39,320
Speaker 1: and they're saying.

459
00:21:39,080 --> 00:21:39,840
Speaker 2: By the horns.

460
00:21:40,000 --> 00:21:41,840
Speaker 1: Yeah, I think a lot of people are like but

461
00:21:41,880 --> 00:21:43,600
Speaker 1: I was told to get the college degree and it

462
00:21:43,640 --> 00:21:45,560
Speaker 1: was really expensive, and now I find myself in a

463
00:21:45,560 --> 00:21:48,360
Speaker 1: place where it's harder for me to achieve the American dream.

464
00:21:48,400 --> 00:21:50,080
Speaker 1: And I get that, and that's a difficult position to

465
00:21:50,119 --> 00:21:51,760
Speaker 1: be in. But I also thought, I love that gen

466
00:21:51,840 --> 00:21:53,720
Speaker 1: Z is kind of starting to question those things out

467
00:21:53,720 --> 00:21:55,800
Speaker 1: of the gate and saying no, no, no, no. I think

468
00:21:55,840 --> 00:21:58,800
Speaker 1: what I want is this, and I don't necessarily need

469
00:21:58,920 --> 00:22:01,800
Speaker 1: the college education to get there, and so not that

470
00:22:01,960 --> 00:22:04,480
Speaker 1: not that college is bad or that everyone should avoid.

471
00:22:04,320 --> 00:22:06,040
Speaker 2: It, But I just it's worth asking the question.

472
00:22:06,119 --> 00:22:08,359
Speaker 1: That's worth asking the question, and it's worth thinking a

473
00:22:08,359 --> 00:22:11,239
Speaker 1: little differently. Gen Z seems to be to be doing that,

474
00:22:11,280 --> 00:22:14,879
Speaker 1: to kind of be responding to the incentives that are

475
00:22:14,880 --> 00:22:17,920
Speaker 1: out there and the costs that are that are being

476
00:22:17,920 --> 00:22:19,920
Speaker 1: placed on us. And if we can, like you said,

477
00:22:20,000 --> 00:22:22,119
Speaker 1: zig when other people are zagging, I think we can

478
00:22:22,240 --> 00:22:24,960
Speaker 1: live that American dream, even it doesn't look like the

479
00:22:25,000 --> 00:22:26,760
Speaker 1: classic idealized version totally.

480
00:22:26,880 --> 00:22:28,480
Speaker 2: Joel, You've got more. He gets to we're gonna talk

481
00:22:28,520 --> 00:22:31,679
Speaker 2: about when might be the best time to book some

482
00:22:31,840 --> 00:22:34,399
Speaker 2: upcoming travel that you've got planned for later the year.

483
00:22:34,480 --> 00:22:44,480
Speaker 2: Gets to that plus more. Right after this, our Matt,

484
00:22:44,520 --> 00:22:47,520
Speaker 2: we're back. It's time for the ludicrous headline of the week.

485
00:22:47,800 --> 00:22:50,600
Speaker 2: This one comes from Business Insider, and it says, customer

486
00:22:50,680 --> 00:22:52,000
Speaker 2: loyalty is a sham.

487
00:22:52,359 --> 00:22:53,360
Speaker 1: True words, a sham.

488
00:22:53,280 --> 00:22:55,040
Speaker 2: Never been spoken. It's interesting.

489
00:22:55,040 --> 00:22:56,960
Speaker 1: I do think that it's a ludicrous in a good way.

490
00:22:57,119 --> 00:23:00,280
Speaker 1: There are some ways right in which being loyal can

491
00:23:00,400 --> 00:23:03,000
Speaker 1: benefit you in many aspects of life.

492
00:23:03,040 --> 00:23:04,800
Speaker 2: About like the punch cards you just want, like your

493
00:23:04,840 --> 00:23:05,640
Speaker 2: free ice cream.

494
00:23:05,800 --> 00:23:09,520
Speaker 1: Yeah, although my local ice cream shop changed ownership and

495
00:23:09,560 --> 00:23:13,119
Speaker 1: they don't don't do the punch cards anymore, which the

496
00:23:13,119 --> 00:23:16,359
Speaker 1: one where they mix it all together, no gone gone

497
00:23:16,440 --> 00:23:16,960
Speaker 1: or the punch card.

498
00:23:17,760 --> 00:23:19,639
Speaker 2: I've got like three of those. Well, the problem is

499
00:23:19,640 --> 00:23:22,480
Speaker 2: that they would always just initial it. It seems very unofficial,

500
00:23:22,600 --> 00:23:25,760
Speaker 2: super smudgy and yeah, as opposed to having some like

501
00:23:25,880 --> 00:23:27,440
Speaker 2: custom bespoke puncher with.

502
00:23:27,520 --> 00:23:29,480
Speaker 1: You know, right, it's hard. It's a lot harder to

503
00:23:30,160 --> 00:23:30,800
Speaker 1: forge that.

504
00:23:31,359 --> 00:23:33,680
Speaker 2: I'm very sad to hear that they're doing doing away

505
00:23:33,680 --> 00:23:35,840
Speaker 2: with the customer loyalty cards. You weren't cheating the loyalty

506
00:23:35,840 --> 00:23:41,040
Speaker 2: card system, Okay, I'm upstanding, honest citizen and consumer.

507
00:23:41,119 --> 00:23:43,119
Speaker 1: I know that to be true. Okay, but so so

508
00:23:43,359 --> 00:23:45,200
Speaker 1: sorry to hear about that can result in free ice

509
00:23:45,240 --> 00:23:47,600
Speaker 1: cream at least it used to be able to and

510
00:23:47,720 --> 00:23:50,800
Speaker 1: the only upside right, But companies, as it turns out,

511
00:23:50,880 --> 00:23:52,320
Speaker 1: love loyal customers.

512
00:23:52,560 --> 00:23:52,919
Speaker 2: They love it.

513
00:23:53,000 --> 00:23:55,200
Speaker 1: They want your loyals. We're on the customer side, right,

514
00:23:55,640 --> 00:23:58,359
Speaker 1: But us, we as customers, might be getting the short

515
00:23:58,480 --> 00:24:01,520
Speaker 1: end of the stick because often they don't offer better

516
00:24:01,560 --> 00:24:05,280
Speaker 1: perks because we're loyal. In fact, they take advantage of

517
00:24:05,280 --> 00:24:09,000
Speaker 1: our loyalty. So the longer you continue doing business with

518
00:24:09,440 --> 00:24:13,439
Speaker 1: a particular retailer or a particular store, particular business, the

519
00:24:13,480 --> 00:24:16,240
Speaker 1: more you're likely to pay. So if you're too loyalty

520
00:24:16,240 --> 00:24:19,119
Speaker 1: your insurance company, for instance, your premiums are probably going

521
00:24:19,160 --> 00:24:21,640
Speaker 1: to be higher than they otherwise should be. Classic example,

522
00:24:21,760 --> 00:24:24,360
Speaker 1: sometimes people are like, man, got dropped by my insurance company.

523
00:24:24,400 --> 00:24:26,440
Speaker 1: I'm paying with them for twenty five years. They don't

524
00:24:26,480 --> 00:24:29,440
Speaker 1: care about you because they don't care that you were loyal.

525
00:24:29,480 --> 00:24:32,800
Speaker 1: You cared about your loyalty, they didn't. If you only

526
00:24:32,840 --> 00:24:34,760
Speaker 1: fly one airline, for instance, Matt, I've met many of

527
00:24:34,800 --> 00:24:37,120
Speaker 1: these people who are like, hey, help me find a deal,

528
00:24:37,160 --> 00:24:38,680
Speaker 1: but I only fly this airline and I only fly

529
00:24:38,800 --> 00:24:41,280
Speaker 1: on these specific dates. And I'm like, yeah, that's really

530
00:24:41,320 --> 00:24:43,520
Speaker 1: hard to find a deal that way. Then, And if

531
00:24:43,560 --> 00:24:46,080
Speaker 1: you only fly one airline, you're regularly paying too much

532
00:24:46,160 --> 00:24:48,880
Speaker 1: for tickets. You're beholden to their loyalty program, even though

533
00:24:48,880 --> 00:24:51,320
Speaker 1: it's not as beneficial as shopping around and saving money.

534
00:24:51,400 --> 00:24:53,320
Speaker 1: If you stick with one of the big banks, your

535
00:24:53,320 --> 00:24:56,400
Speaker 1: savings rate suffers. Right, There's an endless litany of examples

536
00:24:56,440 --> 00:24:59,439
Speaker 1: I can give here where loyalty is actually costing you.

537
00:24:59,680 --> 00:25:03,240
Speaker 1: And that's with this article was pointing out shopping around

538
00:25:03,280 --> 00:25:06,120
Speaker 1: and switching it can feel like a chore, but twenty

539
00:25:06,160 --> 00:25:07,960
Speaker 1: bucks a month or whatever it is, it really can

540
00:25:08,119 --> 00:25:11,200
Speaker 1: add up. Matt, I was just talking with a friend

541
00:25:11,200 --> 00:25:12,480
Speaker 1: and he was telling me how much he was spending

542
00:25:12,480 --> 00:25:14,400
Speaker 1: on cell phone service. And I was like, well, I'm

543
00:25:14,440 --> 00:25:16,480
Speaker 1: with US Mobile, just letting you know, here's how much

544
00:25:16,520 --> 00:25:18,040
Speaker 1: I pay. And he was like, wow, man, I just

545
00:25:18,119 --> 00:25:19,880
Speaker 1: ran the numbers. I thought I was getting like free

546
00:25:19,920 --> 00:25:22,719
Speaker 1: iPhones and stuff from my carrier. But even even when

547
00:25:22,760 --> 00:25:24,520
Speaker 1: I factor in buying my own iPhone, I'm going to

548
00:25:24,560 --> 00:25:26,520
Speaker 1: save more than one hundred dollars a month for my

549
00:25:26,600 --> 00:25:30,480
Speaker 1: family by switching cell phone service. And so he switched immediately.

550
00:25:30,640 --> 00:25:31,080
Speaker 2: He did it.

551
00:25:31,320 --> 00:25:33,479
Speaker 1: He got rid of the loyalty to the company he'd

552
00:25:33,520 --> 00:25:35,680
Speaker 1: been with for a long time and went with one

553
00:25:35,680 --> 00:25:39,720
Speaker 1: of the new upstarts. He's consumer success to consumer success story.

554
00:25:39,880 --> 00:25:41,240
Speaker 1: Those are the kind of things I think most of

555
00:25:41,320 --> 00:25:43,480
Speaker 1: us don't question though. We're just kind of like, we

556
00:25:43,600 --> 00:25:46,240
Speaker 1: keep doing the thing we've been doing, and ye we

557
00:25:46,600 --> 00:25:49,120
Speaker 1: prize that loyalty. The companies that we do business with don't.

558
00:25:49,200 --> 00:25:51,840
Speaker 2: That's that maintaining the status quo, that's that inertia bias.

559
00:25:51,920 --> 00:25:54,159
Speaker 2: Which is totally natural, right, Like, I think it's totally

560
00:25:54,200 --> 00:25:57,400
Speaker 2: natural to want to see consistency in life because sort

561
00:25:57,400 --> 00:26:00,480
Speaker 2: of like we were just talking about entrepreneurship, when you

562
00:26:00,560 --> 00:26:03,000
Speaker 2: can look ahead and you it feels like you have

563
00:26:03,119 --> 00:26:05,480
Speaker 2: a rough idea of what the future holds, then that

564
00:26:05,560 --> 00:26:09,359
Speaker 2: allows you to make other pivots, make other measured risks

565
00:26:09,440 --> 00:26:12,560
Speaker 2: that tend to lead to let's say, entrepreneurship or or

566
00:26:12,600 --> 00:26:14,720
Speaker 2: something that you otherwise would not have partaken in. But

567
00:26:14,760 --> 00:26:17,520
Speaker 2: when everything feels like it's up in the air, I

568
00:26:17,520 --> 00:26:19,720
Speaker 2: think sometimes you can be I don't know, you're just

569
00:26:19,760 --> 00:26:22,000
Speaker 2: a little less prone to take some of those risks.

570
00:26:22,000 --> 00:26:25,320
Speaker 2: And so we seek that consistency in lots of areas

571
00:26:25,400 --> 00:26:27,040
Speaker 2: in life, and it's not just a chore.

572
00:26:26,880 --> 00:26:28,120
Speaker 1: Even if it's working against us.

573
00:26:28,240 --> 00:26:30,080
Speaker 2: Yeah, even well, that's the thing I think some folks

574
00:26:30,160 --> 00:26:33,840
Speaker 2: are used to kind of like that slow like letting

575
00:26:33,880 --> 00:26:36,360
Speaker 2: of blood as opposed to like ripping the baniond aid

576
00:26:36,400 --> 00:26:38,639
Speaker 2: off and making the switch. But I'm glad that your

577
00:26:38,680 --> 00:26:40,879
Speaker 2: buddy was able to do that. Another company that you

578
00:26:40,960 --> 00:26:43,360
Speaker 2: might not want to be loyal to is your home

579
00:26:43,400 --> 00:26:47,360
Speaker 2: internet provider, and you can realize similar savings there because

580
00:26:47,960 --> 00:26:50,760
Speaker 2: back in the day. There used to be basically zero options.

581
00:26:50,760 --> 00:26:53,639
Speaker 2: You just had the local cable company. But that has

582
00:26:53,720 --> 00:26:55,600
Speaker 2: changed at least a little bit, largely in things to

583
00:26:55,640 --> 00:26:58,240
Speaker 2: the different cell phone companies out there who are offering

584
00:26:58,320 --> 00:27:01,199
Speaker 2: the five G at home service. This isn't something that

585
00:27:01,240 --> 00:27:04,960
Speaker 2: I've personally paid for or taken advantage of, Joel, but

586
00:27:05,080 --> 00:27:07,400
Speaker 2: it does mean that there are more opportunities to save,

587
00:27:07,480 --> 00:27:08,200
Speaker 2: and it's just like.

588
00:27:08,160 --> 00:27:10,080
Speaker 1: Another challenger in the mix, right.

589
00:27:10,000 --> 00:27:12,320
Speaker 2: Well, competition, Yeah, the open market. It's a good thing.

590
00:27:12,720 --> 00:27:15,440
Speaker 2: And some of the different companies out there are offering

591
00:27:15,600 --> 00:27:19,320
Speaker 2: multi year price locks, which is got me looking twice.

592
00:27:20,440 --> 00:27:22,680
Speaker 2: So T Mobile specifically, they've got this thirty five dollars

593
00:27:22,760 --> 00:27:27,040
Speaker 2: a month plan for five years, and normally I would

594
00:27:27,119 --> 00:27:29,399
Speaker 2: I don't know, I'm not the one to take the bait,

595
00:27:29,440 --> 00:27:30,760
Speaker 2: but then I saw the five years a part and

596
00:27:30,800 --> 00:27:33,360
Speaker 2: I thought, wait a minute, that's pretty good. That's got

597
00:27:33,400 --> 00:27:35,480
Speaker 2: me looking at the coverage map. I'm just like, okay,

598
00:27:35,480 --> 00:27:37,879
Speaker 2: what is it? All right? I got the ultra I'm

599
00:27:37,920 --> 00:27:41,320
Speaker 2: in the ultra zone, baby, that's what That's what you need. Downside,

600
00:27:41,359 --> 00:27:42,720
Speaker 2: I think you might have to go with the T

601
00:27:42,840 --> 00:27:45,840
Speaker 2: Mobile service in order to fully take advantage of that

602
00:27:45,880 --> 00:27:49,080
Speaker 2: low offering. Yeah, so what fifty bucks? Otherwise maybe I can't.

603
00:27:49,160 --> 00:27:51,119
Speaker 2: I can't remember off the top of my head, but

604
00:27:51,440 --> 00:27:53,560
Speaker 2: it's worth considering because I think if you can do

605
00:27:53,600 --> 00:27:55,520
Speaker 2: a little bit of exploring, you got to shop around,

606
00:27:55,840 --> 00:27:58,040
Speaker 2: you can potentially save a ton of money by making

607
00:27:58,080 --> 00:28:00,840
Speaker 2: the switch. And I think there's a chance to the

608
00:28:00,840 --> 00:28:03,320
Speaker 2: fact that that's even being offered. You know, if you

609
00:28:03,359 --> 00:28:06,040
Speaker 2: are in a zone that has that as an option,

610
00:28:06,640 --> 00:28:08,600
Speaker 2: you might be able to even reach out to your

611
00:28:08,640 --> 00:28:12,040
Speaker 2: current cable provider, let them know what the current competition

612
00:28:12,320 --> 00:28:15,480
Speaker 2: with they're advertising, and you can even potentially get your

613
00:28:15,560 --> 00:28:17,879
Speaker 2: current rate lord without having to go through all the

614
00:28:17,960 --> 00:28:19,600
Speaker 2: rigama role of switching.

615
00:28:19,200 --> 00:28:22,840
Speaker 1: Providerscent Yeah, just like, hey, I'm finding a better deal elsewhere.

616
00:28:22,960 --> 00:28:25,680
Speaker 1: I'm thinking about it and see what they say. Uh yeah,

617
00:28:25,920 --> 00:28:29,160
Speaker 1: just I guess, don't be too loyal or too priced

618
00:28:29,160 --> 00:28:32,040
Speaker 1: insensitive exactly on your hands? Wait exactly they're saving to

619
00:28:32,040 --> 00:28:34,120
Speaker 1: be had, Matt, Are you and I are we too

620
00:28:34,119 --> 00:28:35,439
Speaker 1: loyal to Amazon Prime?

621
00:28:35,920 --> 00:28:39,320
Speaker 2: That's I don't think so, No, Okay, I do. I

622
00:28:39,320 --> 00:28:43,000
Speaker 2: wish I try to always price shop and price compared.

623
00:28:43,080 --> 00:28:46,000
Speaker 2: I will say so. Specifically, Walmart is one of the

624
00:28:46,000 --> 00:28:49,760
Speaker 2: other big big, heavy hitters, and the app just isn't

625
00:28:49,760 --> 00:28:51,800
Speaker 2: as good. If you're searching for something, it'll pull up

626
00:28:51,840 --> 00:28:54,400
Speaker 2: like five thousand different results, and I feel like I'm

627
00:28:54,440 --> 00:28:57,680
Speaker 2: buying some sort of bootleg shampoo from China or something

628
00:28:57,680 --> 00:29:00,760
Speaker 2: like that, as opposed to what it feels like slight,

629
00:29:01,000 --> 00:29:03,840
Speaker 2: a slightly more walled garden where it's a bit more curated.

630
00:29:03,840 --> 00:29:05,920
Speaker 1: I think that a little extra lead in your hair

631
00:29:05,960 --> 00:29:07,680
Speaker 1: follicles is actually good for you. Oh yeah, can you

632
00:29:07,800 --> 00:29:10,360
Speaker 1: can you tell? Yeah's adding some more volume? Uh huh?

633
00:29:10,400 --> 00:29:13,200
Speaker 2: So I just wasn't that Dinner X. Dinner X back

634
00:29:13,200 --> 00:29:15,479
Speaker 2: in the day is like a dander rough shampoo and

635
00:29:15,520 --> 00:29:17,680
Speaker 2: it used to. They're like, you can you can tell

636
00:29:17,720 --> 00:29:19,920
Speaker 2: it's working because you can feel it tingle. But then

637
00:29:20,000 --> 00:29:23,040
Speaker 2: like it had like coal tar, Oh really or something

638
00:29:23,080 --> 00:29:25,920
Speaker 2: crazy like that was terrible. Yeah, I'm like, how is

639
00:29:25,960 --> 00:29:27,880
Speaker 2: there not some sort of class action lawsuit? Again?

640
00:29:27,960 --> 00:29:28,600
Speaker 1: I don't remember.

641
00:29:28,640 --> 00:29:31,320
Speaker 2: I don't remember the shampoo at all, but I remember

642
00:29:31,360 --> 00:29:33,200
Speaker 2: because I remember my dad using it. I remember as

643
00:29:33,280 --> 00:29:35,280
Speaker 2: like a six year old trying it one time, and

644
00:29:35,320 --> 00:29:36,320
Speaker 2: I'm just like, it burned.

645
00:29:37,160 --> 00:29:40,840
Speaker 1: Dad, don't use that shampoo anymore. Well, sorry, I asked

646
00:29:40,880 --> 00:29:43,600
Speaker 1: a question about Amazon Prime because you and I have

647
00:29:43,680 --> 00:29:48,160
Speaker 1: done the household sharing. Yeah, we have because there was nothing,

648
00:29:48,200 --> 00:29:50,400
Speaker 1: no rule against it, kind of like Netflix used to

649
00:29:50,520 --> 00:29:52,720
Speaker 1: allow you to share passwords. In fact, in many ways

650
00:29:52,760 --> 00:29:54,880
Speaker 1: they encouraged it. Some of the other streaming services did

651
00:29:54,880 --> 00:29:57,320
Speaker 1: the same. Now that's not in vogue. They're cracking down

652
00:29:57,320 --> 00:30:01,040
Speaker 1: on a password sharing. Amazon is similarly cracked down on

653
00:30:01,280 --> 00:30:04,080
Speaker 1: the household sharing policy. Now you can only do the

654
00:30:04,680 --> 00:30:09,200
Speaker 1: sharing if that person actually lives under your roof. So yeah,

655
00:30:09,400 --> 00:30:11,880
Speaker 1: I guess you and I now need to consider our

656
00:30:13,160 --> 00:30:14,800
Speaker 1: relationship to Amazon and whether or not we want to

657
00:30:14,840 --> 00:30:17,120
Speaker 1: pony up for our individual Prime memberships every year instead

658
00:30:17,120 --> 00:30:17,840
Speaker 1: of splitting the cost.

659
00:30:18,000 --> 00:30:20,320
Speaker 2: Yeah, that's true. I had a quick conversation with my

660
00:30:20,360 --> 00:30:22,520
Speaker 2: wife and she's pretty convinced that we're not going to

661
00:30:22,520 --> 00:30:25,680
Speaker 2: be getting rid of I will say Amazon is really

662
00:30:25,680 --> 00:30:27,640
Speaker 2: smart because they're dangling the carrot and they're saying, hey,

663
00:30:28,040 --> 00:30:31,320
Speaker 2: is it fifteen bucks that's being offered for up until

664
00:30:31,320 --> 00:30:33,040
Speaker 2: the end of the year for your first year. Yeah,

665
00:30:33,040 --> 00:30:34,680
Speaker 2: and so for the folks out there who haven't been

666
00:30:35,040 --> 00:30:38,280
Speaker 2: directly paying, it's just smart. Is they're just as opposed

667
00:30:38,280 --> 00:30:40,520
Speaker 2: to I don't know, it's an easier transition to turn

668
00:30:40,520 --> 00:30:43,440
Speaker 2: in the screws real tight exactly. So in that part,

669
00:30:43,480 --> 00:30:45,720
Speaker 2: I think Amazon's being pretty smart. So it feels like

670
00:30:45,800 --> 00:30:47,840
Speaker 2: the cool weather is here. You hear folks talking about

671
00:30:47,880 --> 00:30:50,400
Speaker 2: the pumpkins spice slote, even though the heat waves across

672
00:30:50,400 --> 00:30:52,640
Speaker 2: the US feel like they've only recently subsided.

673
00:30:52,720 --> 00:30:55,360
Speaker 1: Oh, we're not gonna it's been hot. It has been,

674
00:30:55,880 --> 00:30:57,880
Speaker 1: but finally a little bit of cool weather. And I

675
00:30:57,920 --> 00:31:00,800
Speaker 1: don't drink pumpkins spice matt iVOD it like the plague.

676
00:31:01,120 --> 00:31:03,280
Speaker 2: I certainly do as well. We're gonna jump, gonna jump

677
00:31:03,320 --> 00:31:06,239
Speaker 2: right over a personal badge of honor. Cozy season goes

678
00:31:06,240 --> 00:31:08,280
Speaker 2: straight to winter. We're gonna talk about the holidays here,

679
00:31:08,320 --> 00:31:12,000
Speaker 2: which feels maybe a little bit inappropriate, but of course

680
00:31:12,000 --> 00:31:13,720
Speaker 2: it's a smart thing to do, not just when it

681
00:31:13,720 --> 00:31:18,000
Speaker 2: comes to Christmas gifts, where we want folks saving all

682
00:31:18,120 --> 00:31:18,840
Speaker 2: year round.

683
00:31:18,680 --> 00:31:20,840
Speaker 1: Right like, start checking on that, thinking, finally.

684
00:31:20,640 --> 00:31:23,520
Speaker 2: That's something you started back in January, but also when

685
00:31:23,560 --> 00:31:27,000
Speaker 2: it comes to traveling around the holidays. That's what we're

686
00:31:27,000 --> 00:31:29,959
Speaker 2: talking about here, because if you are planning on flying,

687
00:31:30,040 --> 00:31:32,000
Speaker 2: let's say, to see a family or to see friends,

688
00:31:33,120 --> 00:31:35,320
Speaker 2: it might be time to start looking at prices, it

689
00:31:35,400 --> 00:31:38,240
Speaker 2: might be time to start setting the airfare alerts because

690
00:31:38,280 --> 00:31:40,720
Speaker 2: the top match booking days to pay the lowest possible

691
00:31:40,760 --> 00:31:45,560
Speaker 2: price just around the bend, potentially even mid to late September.

692
00:31:45,920 --> 00:31:48,560
Speaker 2: Of course, try to have flexible dates. That's what's going

693
00:31:48,600 --> 00:31:51,600
Speaker 2: to allow you to save the most. But just keep

694
00:31:51,600 --> 00:31:54,040
Speaker 2: that in mind. It's gonna be here before you know it.

695
00:31:54,120 --> 00:31:56,640
Speaker 2: You can head over to Google Flights use that to

696
00:31:56,680 --> 00:31:59,560
Speaker 2: your advantage as well. Monitor prices even after you book.

697
00:31:59,600 --> 00:32:02,200
Speaker 2: If maybe it's something you've already knocked out, but if

698
00:32:02,200 --> 00:32:05,360
Speaker 2: you see prices drop, you might be able to cancel,

699
00:32:05,640 --> 00:32:08,760
Speaker 2: get a refund, rebook that same the same flight, or

700
00:32:08,760 --> 00:32:10,480
Speaker 2: that same travel for even less money.

701
00:32:10,480 --> 00:32:13,360
Speaker 1: That's what I'm doing with a hotel room. Then I'm

702
00:32:13,400 --> 00:32:16,040
Speaker 1: gonna be for New York next month for a quick

703
00:32:16,040 --> 00:32:17,560
Speaker 1: little trip because.

704
00:32:17,320 --> 00:32:18,560
Speaker 2: You dropped the prices on that Jennet.

705
00:32:18,600 --> 00:32:21,280
Speaker 1: Well, prices went up and I had not booked yet,

706
00:32:21,320 --> 00:32:23,560
Speaker 1: and so I'm super bumped. So I'm pivoted to a

707
00:32:23,600 --> 00:32:26,160
Speaker 1: cheaper hotel for the time being, but I'm still still

708
00:32:26,160 --> 00:32:27,760
Speaker 1: got my eyes on the hotel that I would like

709
00:32:27,840 --> 00:32:30,400
Speaker 1: to stay at. It's like right out of a Wes

710
00:32:30,480 --> 00:32:33,200
Speaker 1: Anderson movie and I want to stay back there.

711
00:32:33,280 --> 00:32:35,360
Speaker 2: Oh, is that you're talking about the ship one, the

712
00:32:35,600 --> 00:32:38,080
Speaker 2: one the maritime that's got the round windows.

713
00:32:38,200 --> 00:32:41,280
Speaker 1: Yes, it's awesome. It's like I love that hotel so much,

714
00:32:41,400 --> 00:32:44,240
Speaker 1: but it's quite expensive. And so if price is dropped,

715
00:32:44,320 --> 00:32:47,800
Speaker 1: she should talk about loyalty. If price is drop, I'm

716
00:32:47,800 --> 00:32:49,720
Speaker 1: not being loyal If price is drop, I'll go back.

717
00:32:49,920 --> 00:32:51,479
Speaker 1: If prices don't drop, I'm switching to the other.

718
00:32:51,480 --> 00:32:52,600
Speaker 2: I'm not going to do it right.

719
00:32:52,800 --> 00:32:55,800
Speaker 1: But the same is true for booking your flights in particular.

720
00:32:56,120 --> 00:32:58,440
Speaker 1: Be ready to pounce when you see a deal. And

721
00:32:58,480 --> 00:33:01,440
Speaker 1: Google's so great on the Google Flight features to tell

722
00:33:01,480 --> 00:33:04,440
Speaker 1: you kind of hey, this is normal pricing for right now,

723
00:33:04,560 --> 00:33:06,600
Speaker 1: or this is you know, a pretty good deal, you

724
00:33:06,640 --> 00:33:08,960
Speaker 1: should jump on it. I love how they kind of

725
00:33:09,000 --> 00:33:11,840
Speaker 1: help you in that decision making process. Google Flights also

726
00:33:11,960 --> 00:33:15,760
Speaker 1: recently announced an AI based deal feature that they just launched.

727
00:33:15,880 --> 00:33:18,840
Speaker 1: It's called flight Deals and it's in beta right now,

728
00:33:18,880 --> 00:33:21,440
Speaker 1: beta testing. And this is I think great for folks

729
00:33:21,640 --> 00:33:23,600
Speaker 1: who aren't sure where they want to go, but they

730
00:33:23,640 --> 00:33:25,680
Speaker 1: want to get a pretty sweet deal. They just want

731
00:33:25,680 --> 00:33:27,800
Speaker 1: to travel some more awesome and they don't want to

732
00:33:27,840 --> 00:33:31,160
Speaker 1: pay a ton of money. To do it, and Matt,

733
00:33:31,200 --> 00:33:34,440
Speaker 1: this goes right in line with our ethos for travel.

734
00:33:34,680 --> 00:33:37,120
Speaker 1: It's like, hey, don't figure out where you want to travel,

735
00:33:37,560 --> 00:33:41,600
Speaker 1: figure out where it's cheap to travel to, and then say, yeah,

736
00:33:41,680 --> 00:33:43,200
Speaker 1: I guess that looks pretty cool. Let me look into

737
00:33:43,200 --> 00:33:47,800
Speaker 1: it and book a place that's inexpensive and allow that

738
00:33:47,840 --> 00:33:49,800
Speaker 1: to kind of guide you when it comes to your

739
00:33:49,840 --> 00:33:52,000
Speaker 1: destinations that you pick, it means you're going to spend

740
00:33:52,040 --> 00:33:55,440
Speaker 1: a whole lot less on travel and maybe even be

741
00:33:55,440 --> 00:33:59,280
Speaker 1: able to travel travel more, or you increase your budget

742
00:33:59,320 --> 00:34:03,040
Speaker 1: in other possible parts of your travel. Maybe it's the

743
00:34:03,080 --> 00:34:04,840
Speaker 1: craft breweries you're going to, right, you can spend more

744
00:34:04,880 --> 00:34:06,960
Speaker 1: on the craft beer if you spend less on the flight.

745
00:34:07,680 --> 00:34:09,960
Speaker 1: So you can go to Google dot com slash flights,

746
00:34:10,000 --> 00:34:13,160
Speaker 1: slash deals, and man, I was just there checking it out,

747
00:34:13,160 --> 00:34:17,320
Speaker 1: seeing what kind of good deals they had. And Greece

748
00:34:17,680 --> 00:34:20,440
Speaker 1: round trip for less than five hundred bucks in October.

749
00:34:20,840 --> 00:34:23,479
Speaker 1: Greese wasn't on my radar. I don't think I can

750
00:34:24,239 --> 00:34:26,160
Speaker 1: put another trip into my calendar this year. This is

751
00:34:26,200 --> 00:34:27,600
Speaker 1: not going to do happen for me, not going.

752
00:34:27,600 --> 00:34:28,040
Speaker 2: To swing it.

753
00:34:28,200 --> 00:34:31,880
Speaker 1: No, But I was like percolating, you know, and it's like,

754
00:34:31,960 --> 00:34:34,040
Speaker 1: that's a great deal to a really cool place. Not

755
00:34:34,080 --> 00:34:37,319
Speaker 1: gonna happen for me right now, but I'm gonna I'm

756
00:34:37,320 --> 00:34:39,600
Speaker 1: gonna use this service and see if it can help

757
00:34:39,640 --> 00:34:40,120
Speaker 1: me find.

758
00:34:40,000 --> 00:34:41,640
Speaker 2: So that was over the future. That was so, that

759
00:34:41,760 --> 00:34:43,399
Speaker 2: was the existing Did you say that was at the

760
00:34:43,560 --> 00:34:45,040
Speaker 2: deals the deal's page whatever?

761
00:34:45,160 --> 00:34:48,280
Speaker 1: Yeah, okay, yeah, Google dot Com slash flights, slash deals.

762
00:34:48,360 --> 00:34:51,560
Speaker 2: Nice. I will say, so I explored the new beta

763
00:34:51,719 --> 00:34:56,200
Speaker 2: AI Google Flight deals page or whatever. What was the

764
00:34:56,200 --> 00:34:59,480
Speaker 2: the gymnasts Kayla Moroni or whatever. The I'm not impressed.

765
00:35:00,200 --> 00:35:02,680
Speaker 2: The silver Medalist you were impressed. I was not impressed

766
00:35:02,719 --> 00:35:05,880
Speaker 2: because it just seemed like it was essentially the Google

767
00:35:06,000 --> 00:35:08,400
Speaker 2: Explorer feature right where you're in a different in a

768
00:35:08,400 --> 00:35:11,239
Speaker 2: different way, and that's where display and that's the part

769
00:35:11,280 --> 00:35:14,000
Speaker 2: of me that is so I don't want to say disappointed,

770
00:35:14,040 --> 00:35:15,919
Speaker 2: but like, I feel like there's just so much hype

771
00:35:16,000 --> 00:35:19,319
Speaker 2: around AI and someone like Google saying, oh, come check out.

772
00:35:19,440 --> 00:35:23,560
Speaker 2: They're touting their AI Travel Explorer thing, but it's basically

773
00:35:23,880 --> 00:35:27,040
Speaker 2: taking the Explore results and they're repackaging it. It feels less

774
00:35:27,080 --> 00:35:32,080
Speaker 2: like magic and more like a formatting change essentially, which

775
00:35:32,320 --> 00:35:34,640
Speaker 2: I get because I think that's the part of it

776
00:35:35,360 --> 00:35:38,000
Speaker 2: that we are drawn to this I don't know, little

777
00:35:38,000 --> 00:35:40,759
Speaker 2: AI right here, like like we like stories, like we

778
00:35:40,880 --> 00:35:42,480
Speaker 2: like other people, and so it's fun to talk to

779
00:35:42,560 --> 00:35:45,920
Speaker 2: something or somebody else that feels like another person. And

780
00:35:45,960 --> 00:35:47,719
Speaker 2: so when AI is just like, yeah, let me look

781
00:35:47,719 --> 00:35:49,319
Speaker 2: into that for you. Oh, this is what I found.

782
00:35:49,360 --> 00:35:50,799
Speaker 2: What do you think would you like me to do this?

783
00:35:51,160 --> 00:35:53,200
Speaker 2: You feel like you're connecting to somebody else, like you

784
00:35:53,239 --> 00:35:56,440
Speaker 2: have a digital butler exactly, And it's great, but I

785
00:35:56,480 --> 00:35:58,360
Speaker 2: don't know. I don't want to get folks too excited

786
00:35:58,360 --> 00:36:00,520
Speaker 2: about this, And of course it's in. It's in, so

787
00:36:00,560 --> 00:36:03,279
Speaker 2: I wouldn't go over there and expect to find more

788
00:36:03,280 --> 00:36:05,560
Speaker 2: amazing deals than what you could previously find.

789
00:36:05,600 --> 00:36:08,000
Speaker 1: But who knows, maybe it'll get better, maybe it'll be

790
00:36:08,000 --> 00:36:09,120
Speaker 1: superior to and if.

791
00:36:09,040 --> 00:36:11,560
Speaker 2: So, then I am all for it. Yeah, but uh,

792
00:36:11,880 --> 00:36:14,440
Speaker 2: it's just a small critique within the AI landscape.

793
00:36:14,520 --> 00:36:16,319
Speaker 1: Yeah, not to take it back to AI. It does

794
00:36:16,360 --> 00:36:18,640
Speaker 1: sometimes feel like it's AI everything and you're just like,

795
00:36:19,400 --> 00:36:19,799
Speaker 1: all right.

796
00:36:19,840 --> 00:36:22,080
Speaker 2: In some ways, I do think it'll be a little home. Yeah,

797
00:36:22,120 --> 00:36:23,840
Speaker 2: it'll be great, But this is an instance where it

798
00:36:23,960 --> 00:36:27,640
Speaker 2: just feels like repackaging of something that they're already doing.

799
00:36:27,880 --> 00:36:31,360
Speaker 1: All right, Matt, let's touch briefly on tariffs before we departed.

800
00:36:31,520 --> 00:36:32,280
Speaker 2: Let's get political.

801
00:36:32,360 --> 00:36:35,520
Speaker 1: We've tried tried to not talk about it. We had

802
00:36:35,520 --> 00:36:36,640
Speaker 1: to talk about it for a while and then we

803
00:36:36,719 --> 00:36:39,279
Speaker 1: were like, everyone's talking about it, let's not talk about

804
00:36:39,280 --> 00:36:43,280
Speaker 1: it too much. But the legality of top down tariff

805
00:36:43,320 --> 00:36:45,880
Speaker 1: mandates from the White House, it's kind of been questionable

806
00:36:45,960 --> 00:36:49,240
Speaker 1: from the beginning, like does the President have the authority

807
00:36:49,320 --> 00:36:53,000
Speaker 1: to just willy nilly, say fifty percent tariffs on India,

808
00:36:54,280 --> 00:36:57,160
Speaker 1: ten percent tariffs, fifteen percent tariffs on the EU, or

809
00:36:57,280 --> 00:37:02,040
Speaker 1: is that really the job of Congress to establish tariff policy?

810
00:37:02,320 --> 00:37:05,080
Speaker 1: And so a federal appeals court has ruled that President

811
00:37:05,120 --> 00:37:08,160
Speaker 1: Trump does not have the sole authority to tariff nations

812
00:37:08,200 --> 00:37:10,800
Speaker 1: as he wishes, and so tariffs are actually going to

813
00:37:10,840 --> 00:37:13,560
Speaker 1: remain in place for the time being. The Trump administration

814
00:37:13,680 --> 00:37:15,799
Speaker 1: is hoping that the Supreme Court will weigh in soon.

815
00:37:16,480 --> 00:37:19,080
Speaker 1: And when you look at kind of all the talk

816
00:37:19,120 --> 00:37:21,319
Speaker 1: about tariffs, well, it feels like the bark has been

817
00:37:21,360 --> 00:37:23,320
Speaker 1: worse than the bite. They've yet to have this major

818
00:37:23,360 --> 00:37:26,880
Speaker 1: impact on US consumers. We haven't seen price increases to

819
00:37:26,920 --> 00:37:29,520
Speaker 1: the point that many people predicted. I don't think that

820
00:37:29,600 --> 00:37:31,920
Speaker 1: means that they're not going to cause real waves if

821
00:37:31,920 --> 00:37:34,960
Speaker 1: they are allowed to remain intact stick around. So much

822
00:37:35,000 --> 00:37:38,160
Speaker 1: depends on how big the tariffs are, and especially the

823
00:37:38,200 --> 00:37:40,840
Speaker 1: longer they remain, some of that front loading that companies

824
00:37:40,880 --> 00:37:42,920
Speaker 1: were doing goes away, and we will start to see

825
00:37:42,960 --> 00:37:45,440
Speaker 1: some of those price increases. But whether or not the

826
00:37:45,440 --> 00:37:48,520
Speaker 1: tariffs are allowed to remain, that remains to be seen,

827
00:37:48,640 --> 00:37:50,839
Speaker 1: and we will you and I will keep following, keep

828
00:37:50,880 --> 00:37:52,160
Speaker 1: talking about it here on the show.

829
00:37:52,320 --> 00:37:54,799
Speaker 2: Totally. Yeah, this is an instance to where there does

830
00:37:54,840 --> 00:37:57,240
Speaker 2: not seem to be some sort of like golden thread

831
00:37:57,280 --> 00:38:01,920
Speaker 2: that runs through any sort of current administration ideology, right

832
00:38:01,960 --> 00:38:03,560
Speaker 2: Like it just feels more like grasping out straw is

833
00:38:03,560 --> 00:38:06,200
Speaker 2: because what's also what else is in the headlines? Well,

834
00:38:06,200 --> 00:38:08,520
Speaker 2: there's a lot of things in the headlights, but there's

835
00:38:08,560 --> 00:38:11,160
Speaker 2: all so much pressure to get the FED to lower rates.

836
00:38:11,400 --> 00:38:15,000
Speaker 2: But if these terraffs actually stick around, prices are likely

837
00:38:15,040 --> 00:38:17,879
Speaker 2: to go up. Inflation kicks in, which means that there's

838
00:38:17,920 --> 00:38:21,800
Speaker 2: a higher likelihood of rates staying high. So it's almost

839
00:38:21,800 --> 00:38:24,279
Speaker 2: as if the terriff's going away. Would it seems like

840
00:38:24,320 --> 00:38:26,160
Speaker 2: this might be the best thing for our actual economy,

841
00:38:26,160 --> 00:38:29,479
Speaker 2: because things would go things would blow up because we're

842
00:38:29,520 --> 00:38:33,040
Speaker 2: guaranteeing that prices aren't going to be unduly raised because

843
00:38:33,080 --> 00:38:35,040
Speaker 2: of these additional tariff slash taxi.

844
00:38:35,080 --> 00:38:37,600
Speaker 1: If all the tariff threats and realities went away tomorrow,

845
00:38:37,800 --> 00:38:39,080
Speaker 1: just think what would happen to the stock market.

846
00:38:39,160 --> 00:38:40,200
Speaker 2: It would be pretty crazy.

847
00:38:40,280 --> 00:38:42,200
Speaker 1: Yeah, it would be, and there'd be a lot more

848
00:38:42,280 --> 00:38:47,600
Speaker 1: certainty for businesses and for consumers. But we'll see where

849
00:38:47,960 --> 00:38:51,400
Speaker 1: things land with all this because we will court rulings.

850
00:38:51,600 --> 00:38:53,760
Speaker 1: All right, Matt, that's going to do it. For this episode,

851
00:38:53,800 --> 00:38:56,400
Speaker 1: we should give a newsletter shout out to a couple

852
00:38:56,520 --> 00:38:59,319
Speaker 1: of folks who refer to their friends to the how

853
00:38:59,360 --> 00:39:01,120
Speaker 1: Many newsletters and you can sign up at how money

854
00:39:01,120 --> 00:39:04,120
Speaker 1: dot com slash newsletter. But Peter w and d Wilts,

855
00:39:04,440 --> 00:39:07,600
Speaker 1: we appreciate you letting other folks know about the about

856
00:39:07,600 --> 00:39:08,719
Speaker 1: the newsletter. Thank you so much.

857
00:39:09,040 --> 00:39:11,040
Speaker 2: That's right, and that's gonna be it. We hope everyone

858
00:39:11,040 --> 00:39:13,960
Speaker 2: has a fantastic weekend. We'll see you back here on Monday, buddy.

859
00:39:14,080 --> 00:39:17,080
Speaker 2: Until next time, Best friends out, Best Friends Out.