1 00:00:00,120 --> 00:00:01,480 Speaker 1: Welcome to Had of Money. 2 00:00:01,520 --> 00:00:05,520 Speaker 2: I'm Joel, I'm Matt, and today we're talking about social security, fears, 3 00:00:05,880 --> 00:00:09,280 Speaker 2: increasing anxiety, so lots of bad stuff, and then bundling 4 00:00:09,360 --> 00:00:29,920 Speaker 2: is back. That's nice that you ended on behind o 5 00:00:30,080 --> 00:00:32,600 Speaker 2: Joel talking about bundling as opposed to all the things 6 00:00:32,600 --> 00:00:35,040 Speaker 2: that make us sad, that make us depressed, fear, anxiety, worry. 7 00:00:35,159 --> 00:00:38,239 Speaker 1: Yeah, tune into this episode. Are I feel like we 8 00:00:38,240 --> 00:00:38,879 Speaker 1: do our best. 9 00:00:38,680 --> 00:00:40,559 Speaker 2: To try to avoid some of the fear mongering here 10 00:00:40,560 --> 00:00:42,360 Speaker 2: on the show, but it is important to kind of 11 00:00:42,400 --> 00:00:44,720 Speaker 2: talk about what it is that folks are facing. We're 12 00:00:44,760 --> 00:00:47,400 Speaker 2: not trying to ignore the realities of you know, the 13 00:00:47,479 --> 00:00:49,839 Speaker 2: average American. And this is going to be like a 14 00:00:49,920 --> 00:00:51,800 Speaker 2: Zolaf for your ears, is what I'm gonna say. 15 00:00:51,840 --> 00:00:52,120 Speaker 1: Sure. 16 00:00:52,280 --> 00:00:54,279 Speaker 2: Also, so speaking of the average American, I bet there's 17 00:00:54,280 --> 00:00:56,440 Speaker 2: a lot of folks watching the Olympics. Have you been 18 00:00:56,480 --> 00:00:57,520 Speaker 2: watching the Olympics at all? 19 00:00:57,560 --> 00:00:59,920 Speaker 1: Join, We have been watching some. Yeah, I'm sure if 20 00:00:59,920 --> 00:01:02,120 Speaker 1: you you if you were going to uh plunk down 21 00:01:02,120 --> 00:01:04,160 Speaker 1: the change and uh We're gonna talk more about streaming 22 00:01:04,200 --> 00:01:05,680 Speaker 1: later on the show. But I'll tell you this, the 23 00:01:05,680 --> 00:01:09,720 Speaker 1: only reason we have Peacock is because Emily accidentally signed 24 00:01:09,800 --> 00:01:12,280 Speaker 1: up for Instacart. I can, and so, but that comes 25 00:01:12,319 --> 00:01:14,240 Speaker 1: with the free peacock, so we have Yeah, so we 26 00:01:14,280 --> 00:01:15,200 Speaker 1: have peacock because of that. 27 00:01:15,800 --> 00:01:18,039 Speaker 2: So I thought you didn't have to be signed up. 28 00:01:18,200 --> 00:01:21,480 Speaker 1: We're auto unrenewed. But we unrenewed the auto renew so 29 00:01:21,520 --> 00:01:22,440 Speaker 1: that it doesn't happen again. 30 00:01:22,880 --> 00:01:25,080 Speaker 2: I thought you could use Instacart without signing up for it. 31 00:01:25,560 --> 00:01:26,759 Speaker 1: Do you can? Yes, you can. 32 00:01:26,840 --> 00:01:28,720 Speaker 2: That's which is why I was so frustrated by it, 33 00:01:28,920 --> 00:01:31,080 Speaker 2: as opposed to having the members. Not blaming my lovely wife, 34 00:01:31,160 --> 00:01:36,560 Speaker 2: but just saying it happened completely again, so it's been 35 00:01:36,560 --> 00:01:39,560 Speaker 2: included with your with your Instacart. Well, he said, do 36 00:01:39,560 --> 00:01:42,000 Speaker 2: you pay for that a year in advance? Like, yeah, 37 00:01:42,040 --> 00:01:43,360 Speaker 2: I think it's I forget, I think it's like one 38 00:01:43,400 --> 00:01:45,600 Speaker 2: hundred bucks for a seer. But like, then again we 39 00:01:45,680 --> 00:01:47,720 Speaker 2: got the peacock. At least we're not paying extra. Watch 40 00:01:47,720 --> 00:01:50,800 Speaker 2: the Olympics, all right, frustrating, but there's a there's a 41 00:01:50,840 --> 00:01:54,320 Speaker 2: slight silver lending. Don't bring it back up, Matt. For 42 00:01:54,440 --> 00:01:56,080 Speaker 2: a second, I was waffling as to whether or not 43 00:01:56,120 --> 00:01:58,800 Speaker 2: we're gonna splurge and and you know, pay for peacock. 44 00:01:58,840 --> 00:02:00,680 Speaker 2: But I'm like, you know what, for like, we're not 45 00:02:00,760 --> 00:02:03,800 Speaker 2: like a sports heavy family, like the kids, we aren't 46 00:02:03,800 --> 00:02:04,480 Speaker 2: really doing a. 47 00:02:04,440 --> 00:02:07,920 Speaker 1: Star wrestling, Yeah, just a thumb wrestling specifically, But I thought, 48 00:02:07,960 --> 00:02:08,480 Speaker 1: you know what. 49 00:02:08,480 --> 00:02:11,280 Speaker 2: Like that's something we're looking to change, and just the 50 00:02:11,320 --> 00:02:13,760 Speaker 2: ability to be inspired by athletes that are at the 51 00:02:13,800 --> 00:02:15,320 Speaker 2: top of their game. Like I think back to when 52 00:02:15,320 --> 00:02:18,360 Speaker 2: I was a kid watching the ninety six Olympics in 53 00:02:18,400 --> 00:02:22,040 Speaker 2: Atlanta Michael Johnson, Michael Johnson baby like watching him sprint 54 00:02:22,160 --> 00:02:24,880 Speaker 2: in sprint towards gold and I'm like, come on, like 55 00:02:24,960 --> 00:02:26,880 Speaker 2: that just made me want to get out there. Honestly, 56 00:02:26,919 --> 00:02:28,560 Speaker 2: I wonder if that's the part of why I started 57 00:02:28,600 --> 00:02:30,720 Speaker 2: running with my dad. Yeah, like around that point in time. 58 00:02:30,919 --> 00:02:35,080 Speaker 2: Could are the ability to inspire especially younger generations like 59 00:02:35,080 --> 00:02:35,600 Speaker 2: your kids? 60 00:02:35,639 --> 00:02:37,600 Speaker 1: For sure? I think that's Olympics does that more than 61 00:02:37,760 --> 00:02:40,520 Speaker 1: professional sports? Uh? Do you have a favorite moment so far? Ooh? 62 00:02:40,880 --> 00:02:43,640 Speaker 2: So we Okay, I haven't personally watched a ton. The 63 00:02:43,720 --> 00:02:47,640 Speaker 2: kids they've certainly watched more Olympics than I have. The 64 00:02:48,200 --> 00:02:51,200 Speaker 2: so gymnastic Okay, no, swimming, I'll say swimming because you know, 65 00:02:51,320 --> 00:02:53,440 Speaker 2: early on in the Olympics there's a lot of gymnastics, 66 00:02:53,480 --> 00:02:54,520 Speaker 2: a lot of swimming. 67 00:02:54,480 --> 00:02:58,960 Speaker 1: And specifically Katie Ladecki. Dude, what a beast. He's amazing 68 00:02:59,080 --> 00:02:59,880 Speaker 1: her is what was. 69 00:02:59,880 --> 00:03:05,400 Speaker 2: The fifteen hundred freestyle? Her ability to just destroy everybody else, Like, 70 00:03:05,440 --> 00:03:09,240 Speaker 2: to me, that is incredibly inspiring, Like it's not that 71 00:03:09,320 --> 00:03:11,120 Speaker 2: long of her race for a second place to be 72 00:03:11,160 --> 00:03:12,160 Speaker 2: ten seconds behind you. 73 00:03:12,280 --> 00:03:14,200 Speaker 1: Yeah, I don't know, man, that's just I love that. 74 00:03:14,200 --> 00:03:14,840 Speaker 1: It's impressive. 75 00:03:15,040 --> 00:03:18,239 Speaker 2: And swimming is really impressive too, because I'm not a 76 00:03:18,280 --> 00:03:22,120 Speaker 2: great swimmer. I never I've never like swimm competitively. I've 77 00:03:22,120 --> 00:03:24,040 Speaker 2: never done a triathlon. And to see them just like 78 00:03:24,280 --> 00:03:26,600 Speaker 2: cutting through the water like just glass. 79 00:03:26,280 --> 00:03:28,200 Speaker 1: It's just so bad for those trithletes swimming in that river, 80 00:03:28,240 --> 00:03:30,480 Speaker 1: oh my gosh. Oh yeah, they're like it does not 81 00:03:30,520 --> 00:03:32,239 Speaker 1: taste good. All right, And we'll get to the money 82 00:03:32,280 --> 00:03:34,280 Speaker 1: saving stuff here in a second. But what about you though, Yeah, 83 00:03:34,320 --> 00:03:36,360 Speaker 1: I think that my highlights so far was and I 84 00:03:36,360 --> 00:03:38,920 Speaker 1: didn't watch it live, but just seeing it after the fact, 85 00:03:39,440 --> 00:03:43,080 Speaker 1: was the US women's rugby team. The way they picked 86 00:03:43,120 --> 00:03:46,320 Speaker 1: up that ball, they ran it in and they beat Australia. 87 00:03:46,360 --> 00:03:50,040 Speaker 1: They beat like Australia, that's their game, man, is rugby, right, 88 00:03:50,280 --> 00:03:52,840 Speaker 1: So Australians are saying, like, come on, this is all 89 00:03:52,840 --> 00:03:56,320 Speaker 1: we have. Don't take that away from us. From us, well, 90 00:03:56,360 --> 00:03:58,200 Speaker 1: it ended like one hundred year metal drought, so I 91 00:03:58,200 --> 00:04:00,400 Speaker 1: think that's really cool. I don't think I realized it was. Yeah, 92 00:04:00,400 --> 00:04:02,040 Speaker 1: I don't think we'd ever want to medal. I guess 93 00:04:02,080 --> 00:04:04,680 Speaker 1: the men's maybe had like a century ago. But uh, 94 00:04:05,040 --> 00:04:07,320 Speaker 1: but what we're really looking forward to, what we're waiting 95 00:04:07,360 --> 00:04:09,880 Speaker 1: on is the break dancing competition. That's what my son's 96 00:04:09,920 --> 00:04:10,920 Speaker 1: is really interested. 97 00:04:10,640 --> 00:04:15,119 Speaker 2: On because he took a specific breakdancing class that he took. 98 00:04:15,160 --> 00:04:17,520 Speaker 1: What is that slated? I think that's like coming up 99 00:04:17,560 --> 00:04:19,560 Speaker 1: in the week or so. So yeah, well literally you're 100 00:04:19,560 --> 00:04:22,200 Speaker 1: gonna you're gonna that. We're gonna watch that for sure. 101 00:04:22,400 --> 00:04:24,640 Speaker 1: I mean there's all these really interesting random sports that 102 00:04:24,720 --> 00:04:27,080 Speaker 1: the Olympics hasn't I like getting into the kind of 103 00:04:27,120 --> 00:04:31,440 Speaker 1: the nuanced ones too, because yeah, it is gymnastics, swimming 104 00:04:31,480 --> 00:04:33,800 Speaker 1: and then track and field coming up. But then some 105 00:04:33,839 --> 00:04:35,520 Speaker 1: of those weird ones are that those fun to. 106 00:04:35,560 --> 00:04:39,160 Speaker 2: Tune getten in for like archery, where they're like that's 107 00:04:39,200 --> 00:04:41,880 Speaker 2: kind of impressive, yeah, but I precision that comes with 108 00:04:42,120 --> 00:04:42,520 Speaker 2: like a beat. 109 00:04:42,560 --> 00:04:44,080 Speaker 1: Did you see there was a video there a bee 110 00:04:44,160 --> 00:04:47,880 Speaker 1: landed on as they were shooting. It the craziest thing, 111 00:04:47,880 --> 00:04:49,560 Speaker 1: and it messed up their shot. And you're like, you 112 00:04:49,640 --> 00:04:51,920 Speaker 1: trained all these years and then that happen. It's it's unreal. 113 00:04:51,960 --> 00:04:53,760 Speaker 1: All right, Enough about the Olympics. I hope you're enjoying 114 00:04:53,760 --> 00:04:56,440 Speaker 1: watching it. But let's get to the Friday flight and 115 00:04:56,480 --> 00:04:58,920 Speaker 1: the quick sampling of stories we found interesting this week. 116 00:04:59,000 --> 00:05:01,400 Speaker 1: We're gonna talk about how they pertain to your personal finances. 117 00:05:01,680 --> 00:05:03,640 Speaker 1: Ma let's start off by talking about insurance for just 118 00:05:03,680 --> 00:05:06,760 Speaker 1: a second. It is amazing. It's amazing how just a 119 00:05:06,760 --> 00:05:09,120 Speaker 1: few percentage points can have an impact. Talking about sports, 120 00:05:09,120 --> 00:05:11,680 Speaker 1: it's like these like small margins of error, right. That's 121 00:05:11,720 --> 00:05:13,400 Speaker 1: true when it comes to how much we're investing for 122 00:05:13,400 --> 00:05:15,560 Speaker 1: the future, too. An extra percentage point invested or an 123 00:05:15,600 --> 00:05:18,880 Speaker 1: extra percentage point of return adds up over time. The 124 00:05:18,920 --> 00:05:22,039 Speaker 1: mortgage rate that we have is going to impact your 125 00:05:22,240 --> 00:05:25,440 Speaker 1: what you pay on a monthly basis significantly. And then 126 00:05:25,720 --> 00:05:29,080 Speaker 1: the percentage of uninsured drivers, right, that is something else 127 00:05:29,080 --> 00:05:31,480 Speaker 1: that's impacting us all right now. Because there's been an 128 00:05:31,520 --> 00:05:34,880 Speaker 1: uptick in folks ditching car insurance. It's costing all of 129 00:05:34,960 --> 00:05:37,279 Speaker 1: us more money. Every single one of us who's listening 130 00:05:37,440 --> 00:05:40,200 Speaker 1: to this podcast. Sorry, we're paying more because of those 131 00:05:40,600 --> 00:05:41,680 Speaker 1: negligent folks. Right. 132 00:05:42,000 --> 00:05:44,760 Speaker 2: The number is apparently ticked up from the eleven percent 133 00:05:44,839 --> 00:05:47,200 Speaker 2: range to fourteen percent over the past couple of years, 134 00:05:47,680 --> 00:05:50,599 Speaker 2: And Matt, I could see that number increasing as auto 135 00:05:50,880 --> 00:05:53,400 Speaker 2: insurance rates continue to climb. Yeah, it's like this self 136 00:05:53,440 --> 00:05:56,920 Speaker 2: fulfilling prophecy. Right, it continues to get worse because rates 137 00:05:56,960 --> 00:05:59,360 Speaker 2: go up, people drop their car insurance. That reduces the 138 00:05:59,440 --> 00:06:02,200 Speaker 2: number of custom that the insurance companies have, which only 139 00:06:02,360 --> 00:06:05,920 Speaker 2: compounds the pricing problems. Sure, So, yeah, this isn't the 140 00:06:05,960 --> 00:06:09,280 Speaker 2: only factor impacting the rapid rise in insurance cost, but 141 00:06:09,360 --> 00:06:11,640 Speaker 2: it is one of them. And I guess our suggestion 142 00:06:11,720 --> 00:06:15,280 Speaker 2: here to folks would be double check your uninsured motorist protection. 143 00:06:15,839 --> 00:06:18,560 Speaker 2: Make sure you've got solid coverage amounts. Our advice is 144 00:06:18,600 --> 00:06:18,960 Speaker 2: not to. 145 00:06:18,920 --> 00:06:21,160 Speaker 1: Do more of those folks on the road. Yeah, our 146 00:06:21,160 --> 00:06:24,080 Speaker 1: advice is not to become one of those uninsured motors. Sure. 147 00:06:24,120 --> 00:06:26,600 Speaker 2: And so this isn't backed in any research or anything 148 00:06:26,640 --> 00:06:28,440 Speaker 2: like that, but I would be willing to guess that 149 00:06:28,480 --> 00:06:32,680 Speaker 2: the same folks who have made the decision to not 150 00:06:32,839 --> 00:06:35,960 Speaker 2: have insurance on their vehicle, which it's illegal in all 151 00:06:36,000 --> 00:06:38,560 Speaker 2: but like a couple of states that those folks also 152 00:06:38,560 --> 00:06:41,000 Speaker 2: probably don't make the best decisions in other areas of life, 153 00:06:41,040 --> 00:06:43,760 Speaker 2: including whether or not they should should I sneak out 154 00:06:43,800 --> 00:06:44,919 Speaker 2: there and try to make this turn. 155 00:06:44,760 --> 00:06:46,480 Speaker 1: When there's a car company. Yeah, you know, one thing 156 00:06:46,520 --> 00:06:48,560 Speaker 1: I don't know the answer to is what percentage of 157 00:06:48,600 --> 00:06:51,960 Speaker 1: accidents have an uninsured driver in that accident. I guess 158 00:06:52,000 --> 00:06:53,920 Speaker 1: it's more than just a percentage of on insured drivers. 159 00:06:53,960 --> 00:06:55,320 Speaker 2: Yeah, And I don't know. I don't know is that 160 00:06:55,320 --> 00:06:57,760 Speaker 2: fair seeing that? Is that judging a book. 161 00:06:57,600 --> 00:06:59,200 Speaker 1: By its cover? But I don't think so. 162 00:06:59,200 --> 00:07:01,720 Speaker 2: I've got to think that there is some positive correlation 163 00:07:01,800 --> 00:07:02,760 Speaker 2: there between those two. 164 00:07:02,800 --> 00:07:04,760 Speaker 1: And I also, Matt judge books by their cover. 165 00:07:04,640 --> 00:07:09,680 Speaker 2: So sometimes you do. But yeah, increasing the coverage, certainly 166 00:07:09,720 --> 00:07:12,040 Speaker 2: it might cost you more, but not having enough that 167 00:07:12,080 --> 00:07:13,800 Speaker 2: could come back to bite you at the end of 168 00:07:13,840 --> 00:07:14,160 Speaker 2: the day. 169 00:07:14,240 --> 00:07:16,480 Speaker 1: That's an example of being cheap not frugal. 170 00:07:16,920 --> 00:07:19,200 Speaker 2: And one thing that some folks are doing to save 171 00:07:19,280 --> 00:07:22,560 Speaker 2: on car insurance without jeeping out is opting for pay 172 00:07:22,640 --> 00:07:26,040 Speaker 2: by the mile insurance. So companies out there like Metro 173 00:07:26,160 --> 00:07:29,440 Speaker 2: Mile they sprung up for this very reason, but many 174 00:07:29,520 --> 00:07:32,120 Speaker 2: of the major issuers out there, they've sort of jumped 175 00:07:32,160 --> 00:07:35,040 Speaker 2: on the spandwagon as well. But the fact is this 176 00:07:35,200 --> 00:07:37,760 Speaker 2: only really makes sense for folks who don't drive much, 177 00:07:38,400 --> 00:07:42,080 Speaker 2: like fewer than four thousand miles a year. That's typically 178 00:07:42,120 --> 00:07:45,080 Speaker 2: the line of demarcation. If you're below that, you could 179 00:07:45,120 --> 00:07:48,040 Speaker 2: typically save a ton. If you're above that, though, it 180 00:07:48,080 --> 00:07:49,600 Speaker 2: probably doesn't make a whole lot of sense for you. 181 00:07:50,120 --> 00:07:52,680 Speaker 2: And so for instance, if you're like a byke commuter, 182 00:07:52,840 --> 00:07:54,640 Speaker 2: or maybe you work from home most of the time, 183 00:07:54,760 --> 00:07:56,920 Speaker 2: well it might be worth looking into. But for the 184 00:07:56,960 --> 00:08:00,160 Speaker 2: average American, I don't think it makes much sense. But 185 00:08:00,280 --> 00:08:03,480 Speaker 2: one thing worth mentioning. You might save money, but simultaneously 186 00:08:03,560 --> 00:08:06,720 Speaker 2: you might be losing some privacy because the insurance company 187 00:08:06,880 --> 00:08:10,080 Speaker 2: they've got a track how many miles that you're driving somehow, 188 00:08:10,120 --> 00:08:13,680 Speaker 2: whether that's through an app on your phone or whether 189 00:08:13,720 --> 00:08:15,560 Speaker 2: that's through a device that's plugged into the vehicle. And 190 00:08:15,680 --> 00:08:17,200 Speaker 2: so just keep that in mind that for the folks 191 00:08:17,240 --> 00:08:21,560 Speaker 2: out there who aren't into having their privacy invaded, that's 192 00:08:21,680 --> 00:08:23,240 Speaker 2: one of the concessions you're going to have to make 193 00:08:23,280 --> 00:08:25,040 Speaker 2: in order to save And what just. 194 00:08:25,000 --> 00:08:26,960 Speaker 1: One other thing on that on this front, mat is 195 00:08:27,160 --> 00:08:29,240 Speaker 1: you a lot of insurance companies will offer you a 196 00:08:29,280 --> 00:08:31,840 Speaker 1: discount if you drive fewer miles, so they're not monitoring, 197 00:08:32,160 --> 00:08:34,160 Speaker 1: but if you can prove to them, essentially that you 198 00:08:34,280 --> 00:08:36,960 Speaker 1: drive fewer than seventy five hundred miles a year, and 199 00:08:37,080 --> 00:08:40,360 Speaker 1: typically you're just auto, you're reporting your O doometer reading 200 00:08:40,440 --> 00:08:42,720 Speaker 1: or whatever, and they'll send you something in the mail 201 00:08:42,800 --> 00:08:44,719 Speaker 1: to just recertify, Hey, this is how many miles I 202 00:08:44,800 --> 00:08:46,640 Speaker 1: drove in the past year. They'll offer you a discount 203 00:08:46,679 --> 00:08:48,599 Speaker 1: on insurance too. So it might just maybe that's the 204 00:08:48,600 --> 00:08:50,560 Speaker 1: happy medium for a lot of folks, because four thousand 205 00:08:50,559 --> 00:08:52,840 Speaker 1: miles that's not many and not there. 206 00:08:53,040 --> 00:08:56,400 Speaker 2: Yeah, exactly exactly, like it would take somebody who's like 207 00:08:56,440 --> 00:08:59,360 Speaker 2: living in a city center, who works like three blocks away, 208 00:08:59,480 --> 00:09:01,480 Speaker 2: that kind of thing. That's right, like your sister, perhaps 209 00:09:01,920 --> 00:09:03,760 Speaker 2: they really might qualify. Yeah, I bet they would. 210 00:09:03,840 --> 00:09:06,120 Speaker 1: Yeah. All right, let's talk about Social Security for a second. 211 00:09:06,160 --> 00:09:10,520 Speaker 1: The younger generation, they seem to overwhelmingly believe that Social 212 00:09:10,559 --> 00:09:14,360 Speaker 1: Security has scam like elements, that they're paying into this 213 00:09:14,520 --> 00:09:17,040 Speaker 1: system with every paycheck, but that they're never going to 214 00:09:17,040 --> 00:09:20,000 Speaker 1: get to experience any future benefit, or at least not meaningfully. 215 00:09:20,000 --> 00:09:24,440 Speaker 1: So confidence is lowest of course among the twenty and 216 00:09:24,480 --> 00:09:26,600 Speaker 1: thirty somethings. Matt. You can call it paranoid, you can 217 00:09:26,640 --> 00:09:29,520 Speaker 1: call it being cautious. But these worries obviously don't come 218 00:09:29,520 --> 00:09:31,439 Speaker 1: from nowhere. We've talked about this on the show before too, 219 00:09:31,480 --> 00:09:34,679 Speaker 1: what's going on with social security? Our politicians have continued 220 00:09:34,679 --> 00:09:37,600 Speaker 1: to kick the can down the road. I mean, Matt, 221 00:09:37,679 --> 00:09:41,120 Speaker 1: is any president presidential candidate meaningfully addressing the shortfall of 222 00:09:41,200 --> 00:09:43,680 Speaker 1: Social Security? Not right now? No, I don't think so. 223 00:09:43,800 --> 00:09:45,080 Speaker 1: At some point, I think we're going to have to 224 00:09:45,160 --> 00:09:47,719 Speaker 1: maybe the libertarian candidate. I don't know. I don't even 225 00:09:47,760 --> 00:09:49,920 Speaker 1: know their name. I don't even know if they know 226 00:09:49,960 --> 00:09:52,840 Speaker 1: their own name. But yeah, this means that every year 227 00:09:52,880 --> 00:09:55,080 Speaker 1: we wait to fix a broken system, and that means 228 00:09:55,080 --> 00:09:56,680 Speaker 1: it's a harder We're going to be up for a 229 00:09:56,679 --> 00:09:59,000 Speaker 1: harder pivot in the future. But these people, they're not 230 00:09:59,040 --> 00:10:01,959 Speaker 1: just waiting on Poul peticians to do something. They're taking 231 00:10:02,000 --> 00:10:04,440 Speaker 1: matters into their own hands. These these youngsters who don't 232 00:10:04,440 --> 00:10:07,040 Speaker 1: believe that the future of social Security looks right for them, 233 00:10:07,240 --> 00:10:09,160 Speaker 1: and what they're opting to do, Matt is increase their 234 00:10:09,200 --> 00:10:12,120 Speaker 1: own personal savings. Right, Yeah, we're all about that. This 235 00:10:12,240 --> 00:10:14,760 Speaker 1: was documented a story well documented in the Wall Street Journal. 236 00:10:14,960 --> 00:10:18,240 Speaker 1: A lot of these folks are leaving that potential Social 237 00:10:18,280 --> 00:10:22,400 Speaker 1: Security payment out of their retirement calculations altogether. And so 238 00:10:23,440 --> 00:10:24,920 Speaker 1: I will say this to Matt, I get the wuo 239 00:10:24,920 --> 00:10:27,600 Speaker 1: who I get where they're coming from. We're all for. 240 00:10:27,640 --> 00:10:31,720 Speaker 2: Personal responsibility, yeah, and you taking more action to impact 241 00:10:31,720 --> 00:10:34,440 Speaker 2: your taking matters into your hands personal future. Yeah, but 242 00:10:35,040 --> 00:10:37,400 Speaker 2: this also might be taking things too far because I 243 00:10:37,400 --> 00:10:39,520 Speaker 2: don't believe that these people are also going to get 244 00:10:39,880 --> 00:10:42,360 Speaker 2: not a nothing from Social Security true when they hit 245 00:10:42,360 --> 00:10:43,200 Speaker 2: their retirement age. 246 00:10:43,280 --> 00:10:43,439 Speaker 1: Yeah. 247 00:10:43,520 --> 00:10:46,120 Speaker 2: Yeah, we actually didn't in depth dive back in episode 248 00:10:46,160 --> 00:10:48,800 Speaker 2: four thirteen on Social Security, and a lot of what 249 00:10:48,840 --> 00:10:52,360 Speaker 2: we said back then remains true about social Security today 250 00:10:52,400 --> 00:10:55,440 Speaker 2: because demographics they are not on our side. In fact, 251 00:10:55,480 --> 00:10:57,040 Speaker 2: they've probably actually even gotten. 252 00:10:56,800 --> 00:10:58,760 Speaker 1: Worse since that episode. Yeah. 253 00:10:58,800 --> 00:11:01,040 Speaker 2: So like it's going to be strained in. 254 00:11:01,000 --> 00:11:03,720 Speaker 1: Most of their developed countries, but ours certainly in hours. 255 00:11:03,800 --> 00:11:07,120 Speaker 2: Yeah, but we're going to continue to see straining like 256 00:11:07,200 --> 00:11:09,080 Speaker 2: on the system in the coming years with fewer folks 257 00:11:09,080 --> 00:11:12,360 Speaker 2: paying into it, which means younger folks might see a 258 00:11:12,400 --> 00:11:15,920 Speaker 2: reduction in benefits, which also means that you are likely 259 00:11:15,960 --> 00:11:18,520 Speaker 2: going to need to bear more of the burden to 260 00:11:18,600 --> 00:11:20,439 Speaker 2: fund your own retirement, which is why we can get 261 00:11:20,440 --> 00:11:23,360 Speaker 2: excited about folks starting to take steps in that direction. 262 00:11:23,800 --> 00:11:25,760 Speaker 2: And our thrust on the show is just to talk 263 00:11:25,840 --> 00:11:29,559 Speaker 2: regularly about securing your own retirement via the available avenues 264 00:11:29,600 --> 00:11:31,959 Speaker 2: to us, and just to boil it down to the basics, 265 00:11:32,000 --> 00:11:34,600 Speaker 2: dollar cost average and too index funds in a tax 266 00:11:34,640 --> 00:11:38,480 Speaker 2: advantaged account. Do that for decades. But it's not rocket science, 267 00:11:38,559 --> 00:11:40,840 Speaker 2: no exactly, it's not all that difficult. But I also 268 00:11:40,920 --> 00:11:42,680 Speaker 2: think though, that it could be a good idea to 269 00:11:42,800 --> 00:11:48,160 Speaker 2: create a my Social Security account over at SSA dot gov, 270 00:11:48,679 --> 00:11:50,760 Speaker 2: where you can log in you can see an estimate 271 00:11:50,840 --> 00:11:53,960 Speaker 2: of your likely social Security amount. I actually think it 272 00:11:54,040 --> 00:11:56,640 Speaker 2: might be helpful for you to see what your likely 273 00:11:56,720 --> 00:11:58,920 Speaker 2: payolt might be and honestly to get your hopes up 274 00:11:58,920 --> 00:12:01,880 Speaker 2: a little bit, because I think what that does is 275 00:12:02,000 --> 00:12:03,880 Speaker 2: it might allow a lot of folks to think, oh, 276 00:12:03,880 --> 00:12:06,680 Speaker 2: wait a minute, when the time does come for there 277 00:12:06,720 --> 00:12:09,000 Speaker 2: to either be higher taxes which are very likely in 278 00:12:09,000 --> 00:12:11,280 Speaker 2: the future, or a reduction and benefits free just to 279 00:12:11,360 --> 00:12:15,080 Speaker 2: understand why that's the case. The reality of the future 280 00:12:15,080 --> 00:12:18,360 Speaker 2: of social security needs to be grounded in actual reality, 281 00:12:18,400 --> 00:12:20,160 Speaker 2: as opposed to this sort of pipe dream, which is 282 00:12:20,480 --> 00:12:24,280 Speaker 2: what we've seen politicians continue to do by ignoring the 283 00:12:24,320 --> 00:12:25,520 Speaker 2: situation that we find ourselves in. 284 00:12:25,559 --> 00:12:27,199 Speaker 1: And I think it's also important to note. You might 285 00:12:27,200 --> 00:12:29,120 Speaker 1: see you're going to see a projected amount based on 286 00:12:29,120 --> 00:12:31,520 Speaker 1: your current income and the number of years that you've worked, 287 00:12:31,880 --> 00:12:33,680 Speaker 1: assuming that you're going to continue to work the full 288 00:12:33,679 --> 00:12:36,880 Speaker 1: amount of years in order to get to your maximum payout. 289 00:12:37,120 --> 00:12:38,320 Speaker 1: And what I would do when I log in there 290 00:12:38,360 --> 00:12:40,120 Speaker 1: and I saw that number, Matt, I would cut it 291 00:12:40,160 --> 00:12:43,760 Speaker 1: by twenty five percent, because I think it's highly unlikely 292 00:12:43,800 --> 00:12:46,719 Speaker 1: that even if you're a gen zer, you're going to 293 00:12:46,760 --> 00:12:48,880 Speaker 1: get the rug pulled out from under you completely. 294 00:12:48,960 --> 00:12:50,400 Speaker 2: It's not going to be completely gone, but. 295 00:12:50,800 --> 00:12:53,680 Speaker 1: From all the projections, it seems like payouts will go 296 00:12:53,800 --> 00:12:56,720 Speaker 1: down what in the in twenty thirty three, early twenty 297 00:12:56,760 --> 00:13:00,560 Speaker 1: thirties for retirees if something's not done to fix this problem. 298 00:13:00,800 --> 00:13:03,599 Speaker 1: So just note, yeah, look at the number, be encouraged, 299 00:13:03,720 --> 00:13:06,320 Speaker 1: but also be a realist and realize that number probably 300 00:13:06,360 --> 00:13:08,680 Speaker 1: isn't going to be exactly what you're gonna receive in retirement. 301 00:13:09,320 --> 00:13:10,880 Speaker 1: We're gonna have to change the system in order to 302 00:13:10,960 --> 00:13:12,880 Speaker 1: keep it solvent for future generations. 303 00:13:12,960 --> 00:13:14,679 Speaker 2: Yeah, I think it's just it's helpful to think about it. 304 00:13:14,720 --> 00:13:16,160 Speaker 2: And I think we said this on that Deep Dive 305 00:13:16,200 --> 00:13:18,319 Speaker 2: episode too that we did on Social Security. But almost 306 00:13:18,320 --> 00:13:20,400 Speaker 2: see it as like like the cherry on top, right, Like, 307 00:13:20,440 --> 00:13:22,920 Speaker 2: it's not like it's I don't know, do you think 308 00:13:22,960 --> 00:13:24,560 Speaker 2: it needs to be more than that? Actually, well it's 309 00:13:24,559 --> 00:13:26,240 Speaker 2: the three leg's still right, as we talked about it 310 00:13:26,240 --> 00:13:28,800 Speaker 2: being like the nuts, because there's actual substance. Is that unfamiliar? 311 00:13:28,840 --> 00:13:31,760 Speaker 2: It's like we're talking about like an ice cream Sunday 312 00:13:31,760 --> 00:13:34,160 Speaker 2: and it's like, well, a cherry on top or whip cream, 313 00:13:34,200 --> 00:13:35,480 Speaker 2: there's not much substance there. 314 00:13:35,520 --> 00:13:37,319 Speaker 1: But it's actually you should int haal the whip cream 315 00:13:37,360 --> 00:13:40,839 Speaker 1: bay exactly, and it can just get evaporate or something 316 00:13:40,880 --> 00:13:41,680 Speaker 1: like that, it just melts. 317 00:13:41,720 --> 00:13:44,400 Speaker 2: But it's like there is some true substance to what 318 00:13:44,440 --> 00:13:46,520 Speaker 2: it is that you're likely going to receive, but you 319 00:13:46,600 --> 00:13:48,360 Speaker 2: just don't necessarily want to fully bank on that. 320 00:13:48,559 --> 00:13:51,400 Speaker 1: Yeah. I agreed, And so maybe don't go down the 321 00:13:51,559 --> 00:13:54,480 Speaker 1: super dismal, pessimistic rabbit hole that some of the people 322 00:13:54,520 --> 00:13:57,439 Speaker 1: profiled in this article. We're going down saying like I 323 00:13:57,440 --> 00:13:59,480 Speaker 1: don't think I'm gonna get any money from that. Yeah, 324 00:14:00,040 --> 00:14:02,920 Speaker 1: because it's a popular program, it's not going away completely. 325 00:14:03,160 --> 00:14:06,000 Speaker 1: But also realize that Social Security ain't going to cover 326 00:14:06,280 --> 00:14:09,280 Speaker 1: the majority of your retirement needs. And yeah, most of 327 00:14:09,320 --> 00:14:11,840 Speaker 1: it really does come down to you and your ability 328 00:14:11,880 --> 00:14:14,040 Speaker 1: to increase your savings rate to prepare for your own 329 00:14:14,040 --> 00:14:17,360 Speaker 1: financial future. And Matt, that brings me to another interesting 330 00:14:17,400 --> 00:14:20,520 Speaker 1: product that I was kind of baffled by this article 331 00:14:20,520 --> 00:14:25,480 Speaker 1: in Yahoo Finance about a CD that lasts for one 332 00:14:25,560 --> 00:14:27,800 Speaker 1: hundred years. Did you see that? No? 333 00:14:27,960 --> 00:14:31,920 Speaker 2: Okay, so this was super weird that you would potentially 334 00:14:31,920 --> 00:14:33,440 Speaker 2: lock up your money. You get paid a rate of 335 00:14:33,440 --> 00:14:35,520 Speaker 2: four point seventy five percent, which is pretty good these 336 00:14:35,600 --> 00:14:37,240 Speaker 2: days we're talking about a CD. 337 00:14:37,280 --> 00:14:39,000 Speaker 1: Does't makes any sense. But you lock up your money for. 338 00:14:39,000 --> 00:14:40,320 Speaker 2: A century, how would you do that? You'd have to 339 00:14:40,400 --> 00:14:41,440 Speaker 2: be it's like a time capsule. 340 00:14:41,520 --> 00:14:45,040 Speaker 1: Yeah, it'll be fresh born hoping. So apparently this is 341 00:14:45,080 --> 00:14:48,320 Speaker 1: like partly to be able to leave money to your 342 00:14:48,360 --> 00:14:49,080 Speaker 1: heirs and. 343 00:14:49,040 --> 00:14:52,600 Speaker 2: So that's opens time capsules. Not you, but like the 344 00:14:52,640 --> 00:14:55,880 Speaker 2: future generation exactly do that. And then but if you 345 00:14:55,920 --> 00:14:59,000 Speaker 2: tap this this CD early, you pay ten years worth 346 00:14:59,000 --> 00:15:02,320 Speaker 2: of interest, which it's incredible. And if you've got that 347 00:15:02,360 --> 00:15:04,400 Speaker 2: long to wait, I would say, there are so few 348 00:15:04,440 --> 00:15:07,760 Speaker 2: reasons not to be investing that money and said, so, yeah, 349 00:15:07,800 --> 00:15:09,920 Speaker 2: I think the bank was called the Walden Mutual Bank. 350 00:15:10,320 --> 00:15:12,560 Speaker 1: Sorry, but I'm out. I'm not into that product. 351 00:15:12,760 --> 00:15:16,160 Speaker 2: Okay, while we're talking about planning ahead, oftentimes you do 352 00:15:16,200 --> 00:15:18,880 Speaker 2: that when you are raising your kids. Let's talk about 353 00:15:18,920 --> 00:15:22,760 Speaker 2: giving your kid a financial head start. There are certainly 354 00:15:22,800 --> 00:15:24,240 Speaker 2: a lot of ways to do that. You could open 355 00:15:24,280 --> 00:15:26,000 Speaker 2: one of these one hundred year CDs. 356 00:15:26,400 --> 00:15:28,480 Speaker 1: But at least once when they're eighty five. 357 00:15:28,840 --> 00:15:32,080 Speaker 2: One realistic way is to help them get a great 358 00:15:32,280 --> 00:15:35,720 Speaker 2: credit score. There's new data from trains Union. They find 359 00:15:35,800 --> 00:15:38,880 Speaker 2: that young people who are being granted authorized user access 360 00:15:38,920 --> 00:15:39,600 Speaker 2: is more than. 361 00:15:39,680 --> 00:15:42,000 Speaker 1: Doubled over the past decade. 362 00:15:42,040 --> 00:15:43,840 Speaker 2: And so if you're a parent adding your child to 363 00:15:43,880 --> 00:15:46,120 Speaker 2: your credit card accounts, that's going to allow them to 364 00:15:46,200 --> 00:15:49,240 Speaker 2: launch into life with a great credit score. Of course, 365 00:15:49,240 --> 00:15:51,960 Speaker 2: that assumes that you are making your payments on time, 366 00:15:52,080 --> 00:15:54,320 Speaker 2: that you're paying off your balance on time and in 367 00:15:54,360 --> 00:15:56,600 Speaker 2: full every single month. Otherwise you're gonna do the exact 368 00:15:56,600 --> 00:16:01,520 Speaker 2: opposite answering your kids right. Capital one in particular, that 369 00:16:01,560 --> 00:16:05,080 Speaker 2: they've got no minimum age for authorized users, so Basically, 370 00:16:05,160 --> 00:16:06,880 Speaker 2: I think as long as you've your kid's got a 371 00:16:06,880 --> 00:16:10,200 Speaker 2: social Security number, you can add them to your account. 372 00:16:10,240 --> 00:16:12,800 Speaker 1: I think every credit card issuer takes a different tact. 373 00:16:12,840 --> 00:16:14,400 Speaker 1: I want to say, American Express, they have to be 374 00:16:14,400 --> 00:16:16,840 Speaker 1: at least thirteen. So, yeah, look at the fine print 375 00:16:16,880 --> 00:16:18,920 Speaker 1: and see, well how old does my kid have to 376 00:16:18,920 --> 00:16:21,680 Speaker 1: be to become an authorized user? But you can start 377 00:16:21,680 --> 00:16:23,320 Speaker 1: them on. You can start them as newborns. Oh yeah, 378 00:16:23,320 --> 00:16:24,040 Speaker 1: it's totally impressive. 379 00:16:24,080 --> 00:16:25,960 Speaker 2: Yeah, that's going to give them a nice little head start. 380 00:16:26,160 --> 00:16:27,880 Speaker 2: And I was thinking about it and it made me 381 00:16:27,920 --> 00:16:30,360 Speaker 2: realize too that I think because of how easy it is, 382 00:16:30,400 --> 00:16:33,320 Speaker 2: I think for those parents out there who aren't doing this, 383 00:16:33,560 --> 00:16:35,680 Speaker 2: I almost feel like that like there's collective action that 384 00:16:36,080 --> 00:16:38,400 Speaker 2: is taking place, and because it's so easy, because more 385 00:16:38,440 --> 00:16:40,960 Speaker 2: folks are doing it, that essentially your kids almost like 386 00:16:40,960 --> 00:16:43,960 Speaker 2: at a disadvantage because you're not taking advantage of this, 387 00:16:44,000 --> 00:16:44,200 Speaker 2: you know. 388 00:16:44,240 --> 00:16:45,040 Speaker 1: Like it makes me think. 389 00:16:44,920 --> 00:16:48,200 Speaker 2: Of college, which there is a very high bar to entry, right, 390 00:16:48,280 --> 00:16:50,000 Speaker 2: Like it costs a lot of money. You're looking at 391 00:16:50,200 --> 00:16:52,680 Speaker 2: like a four year degree. But how like over the 392 00:16:52,680 --> 00:16:55,760 Speaker 2: past number of decades, how many jobs and industries do 393 00:16:55,800 --> 00:16:58,440 Speaker 2: we see where like the minimum threshold, like what you 394 00:16:58,520 --> 00:17:01,120 Speaker 2: needed to have was at least a four your degree. Yeah, 395 00:17:01,160 --> 00:17:03,360 Speaker 2: and so it's like, what is it like? Credit score 396 00:17:03,440 --> 00:17:06,159 Speaker 2: inflation essentially seems like it might be happening, and because 397 00:17:06,200 --> 00:17:07,920 Speaker 2: of that, that could potentially put your kid at a 398 00:17:07,920 --> 00:17:10,160 Speaker 2: disadvantage once they're launching out into life. 399 00:17:10,240 --> 00:17:12,160 Speaker 1: And we know, of course, the credit score is only 400 00:17:12,200 --> 00:17:14,919 Speaker 1: one piece of a healthy financial life, and don't obsess 401 00:17:14,960 --> 00:17:17,840 Speaker 1: over and what you teach your kids matters more than 402 00:17:18,880 --> 00:17:21,360 Speaker 1: making sure that they have a seven hundred and twenty 403 00:17:21,400 --> 00:17:23,240 Speaker 1: credit score, seven hundred and fifty credit score when they 404 00:17:23,280 --> 00:17:26,479 Speaker 1: turn eighteen. But this is just one thing you can 405 00:17:26,520 --> 00:17:28,480 Speaker 1: do for them that takes a few minutes and you 406 00:17:28,480 --> 00:17:30,200 Speaker 1: can kind of get them started off on the right foot, 407 00:17:30,200 --> 00:17:33,160 Speaker 1: at least from a credit perspective. But yeah, I think 408 00:17:33,160 --> 00:17:35,560 Speaker 1: the bigger thing is talking to them about, oh ya, 409 00:17:35,640 --> 00:17:37,560 Speaker 1: what it looks like to handle their credit responsible is 410 00:17:37,640 --> 00:17:39,640 Speaker 1: much more important. That's much more important. All Right, We've 411 00:17:39,680 --> 00:17:42,679 Speaker 1: got more to get to on this episode, and including 412 00:17:42,680 --> 00:17:45,600 Speaker 1: we're going to talk about a new study about money 413 00:17:45,600 --> 00:17:47,960 Speaker 1: and happiness. How are they related to one another? It 414 00:17:48,040 --> 00:17:50,960 Speaker 1: kind of contradicts previous studies. We'll get to that and 415 00:17:51,040 --> 00:17:52,120 Speaker 1: more right after this. 416 00:18:00,040 --> 00:18:01,520 Speaker 2: Right, we are back for the break and Joel, we'll 417 00:18:01,520 --> 00:18:03,760 Speaker 2: get to talking about your feelings here in a minute. 418 00:18:03,760 --> 00:18:06,760 Speaker 2: We've got actually multiple stories about how does you feel? 419 00:18:06,920 --> 00:18:09,520 Speaker 2: Did you see Inside Out? How I specifically feel about 420 00:18:09,520 --> 00:18:11,840 Speaker 2: how you Yeah, okay, you're looking quite chipper this morning. 421 00:18:11,960 --> 00:18:14,480 Speaker 1: Did you did you see did y'all see Inside Out? Too? Oh? 422 00:18:14,520 --> 00:18:16,800 Speaker 1: We did have. We already talked about that on the show. Oh, 423 00:18:16,800 --> 00:18:20,359 Speaker 1: we might have. Okay, let's just stop solid. Okay, is 424 00:18:20,400 --> 00:18:21,960 Speaker 1: that how we do things here? Yeah, this is a 425 00:18:22,000 --> 00:18:24,760 Speaker 1: live edit. Now let's talk about anxiety, which is that 426 00:18:24,840 --> 00:18:26,320 Speaker 1: was one of the characters the added to the movie, 427 00:18:26,359 --> 00:18:27,800 Speaker 1: the main character. Yeah. 428 00:18:27,880 --> 00:18:32,119 Speaker 2: A new Discover survey finds that anxiety and avoidance that 429 00:18:32,160 --> 00:18:35,199 Speaker 2: they are driving the financial lives of many Americans. 430 00:18:35,200 --> 00:18:37,119 Speaker 1: That's the headline of their report. 431 00:18:37,359 --> 00:18:41,520 Speaker 2: Yeah, which is not terribly shocking, but it's it's not good. 432 00:18:41,680 --> 00:18:45,399 Speaker 2: Eighty percent of folks admit to feeling some anxiety about money, 433 00:18:45,720 --> 00:18:49,640 Speaker 2: but roughly a third say that it is moderate to severe, 434 00:18:50,320 --> 00:18:53,520 Speaker 2: and dude, ossibly it's like debilitating levels of anxiety exactly. 435 00:18:53,680 --> 00:18:55,800 Speaker 2: But what stood out to me is the opposite, like 436 00:18:55,840 --> 00:18:58,280 Speaker 2: the negative of that eighty percent, which is the fact 437 00:18:58,320 --> 00:19:01,240 Speaker 2: that there are twenty percent of folks that basically feel 438 00:19:01,400 --> 00:19:03,120 Speaker 2: zero stress about money. 439 00:19:02,960 --> 00:19:04,640 Speaker 1: Maybe, which who are these people? 440 00:19:04,720 --> 00:19:08,040 Speaker 2: They're sitting on their pillow in low disposition, not worrying 441 00:19:08,040 --> 00:19:10,520 Speaker 2: about their money at all, floading through life. But even because, 442 00:19:10,640 --> 00:19:12,800 Speaker 2: like I don't know, if you are doing a great 443 00:19:12,840 --> 00:19:15,280 Speaker 2: job with your finances, you're crushing it, that doesn't mean 444 00:19:15,280 --> 00:19:18,520 Speaker 2: that money isn't still a stressor at times. But of 445 00:19:18,520 --> 00:19:21,560 Speaker 2: course I feel for the folks who just regularly feel 446 00:19:21,600 --> 00:19:24,480 Speaker 2: anxious about money. For a decent chunk of folks, it's 447 00:19:24,480 --> 00:19:27,480 Speaker 2: literally about not having enough money. But many others out there, 448 00:19:27,480 --> 00:19:29,639 Speaker 2: they're worried about the far off future and just the 449 00:19:29,640 --> 00:19:33,000 Speaker 2: different what ifs in life, like losing a job, maybe 450 00:19:33,080 --> 00:19:35,679 Speaker 2: experiencing a recession, what that would do to their finances. 451 00:19:35,960 --> 00:19:39,320 Speaker 2: And we talked about emergency funds last week and having 452 00:19:39,359 --> 00:19:42,840 Speaker 2: more money on hand. It certainly is not a perfect solution, 453 00:19:43,280 --> 00:19:46,280 Speaker 2: but adding to your liquidity, just little by little, I 454 00:19:46,280 --> 00:19:48,639 Speaker 2: think is Honestly, it's one of the best solutions. And 455 00:19:48,680 --> 00:19:51,240 Speaker 2: I would love to see some sort of study done 456 00:19:51,440 --> 00:19:53,720 Speaker 2: where you have somebody who's living paycheck to paycheck and 457 00:19:53,760 --> 00:19:56,960 Speaker 2: if they were able to have some sort of financial 458 00:19:56,960 --> 00:19:58,600 Speaker 2: margin in their life, where they've got three to six 459 00:19:58,600 --> 00:20:01,200 Speaker 2: months worth of living expenses set us, Like just think 460 00:20:01,200 --> 00:20:03,280 Speaker 2: about what that would do to so many folks. 461 00:20:03,400 --> 00:20:06,840 Speaker 1: Like we have some studies like that from like basic 462 00:20:06,880 --> 00:20:09,439 Speaker 1: income studies that have been done, and is it interesting 463 00:20:09,440 --> 00:20:11,960 Speaker 1: to see how families respond, How they end up working less, 464 00:20:11,960 --> 00:20:14,760 Speaker 1: they end up feeling more financially secure, they end up 465 00:20:14,800 --> 00:20:18,159 Speaker 1: seeming to have better relationships with the people they do 466 00:20:18,280 --> 00:20:21,640 Speaker 1: life with. So I guess like that knowing that there's 467 00:20:21,680 --> 00:20:24,360 Speaker 1: an increased paycheck coming in every single month, whether it's 468 00:20:24,359 --> 00:20:26,679 Speaker 1: five hundred bucks or whatever, it does add to a 469 00:20:26,680 --> 00:20:28,200 Speaker 1: lot of people's peace of mind. 470 00:20:28,280 --> 00:20:32,320 Speaker 2: Yeah, simultaneously that I think there's something disempowering about like 471 00:20:32,520 --> 00:20:35,760 Speaker 2: some sort of UBI implementation. But so I guess as 472 00:20:35,800 --> 00:20:37,520 Speaker 2: I'll think it through margin. Like what my mind went 473 00:20:37,560 --> 00:20:39,639 Speaker 2: to was just like one of the other things that 474 00:20:39,640 --> 00:20:42,520 Speaker 2: we have a finite amount of, which is time. Like 475 00:20:42,560 --> 00:20:44,240 Speaker 2: just think about if you're trying to make an appointment 476 00:20:44,280 --> 00:20:45,480 Speaker 2: or if you're trying to like if you're trying to 477 00:20:45,520 --> 00:20:48,320 Speaker 2: catch a flight, you could leave at the very last minute. 478 00:20:48,600 --> 00:20:51,359 Speaker 2: And what that means, though, is that every single stop 479 00:20:51,400 --> 00:20:54,960 Speaker 2: along the way, every red light, every traffic slow down 480 00:20:55,040 --> 00:20:58,280 Speaker 2: or congestion or accident that you come across has you 481 00:20:58,320 --> 00:21:00,439 Speaker 2: just like completely stressed out because what I mean, like 482 00:21:00,440 --> 00:21:02,160 Speaker 2: you on the first day of school this week, Yeah, 483 00:21:02,200 --> 00:21:04,560 Speaker 2: oh my gosh, dude. Yeah, circumstances out of your control. 484 00:21:04,600 --> 00:21:06,840 Speaker 2: But yes, car didn't start. Might be time for a 485 00:21:06,840 --> 00:21:10,679 Speaker 2: new battery. Imagine though, if you take that same situation 486 00:21:11,119 --> 00:21:12,880 Speaker 2: and you just add thirty minutes to it, add an 487 00:21:12,880 --> 00:21:14,840 Speaker 2: hour to like, oh, let's just make sure we've got 488 00:21:14,880 --> 00:21:17,800 Speaker 2: plenty of time there at the airport, like a stoplight 489 00:21:17,920 --> 00:21:20,440 Speaker 2: or a slowdown. It's just you're like, Okay, no problem, 490 00:21:20,520 --> 00:21:21,680 Speaker 2: because I've got plenty of time. 491 00:21:21,800 --> 00:21:23,480 Speaker 1: Same thing is true when it comes to your finances 492 00:21:23,560 --> 00:21:25,800 Speaker 1: and when we talk about anxiety and avoidance, Matt, we're 493 00:21:25,800 --> 00:21:27,560 Speaker 1: also talking about kind of things that are going on 494 00:21:27,640 --> 00:21:29,240 Speaker 1: in your mind. And you and I were not mental 495 00:21:29,240 --> 00:21:32,240 Speaker 1: health professionals, and honestly, for some people, the best course 496 00:21:32,240 --> 00:21:35,159 Speaker 1: of action might be to see somebody like a financial therapist. 497 00:21:35,200 --> 00:21:38,080 Speaker 1: We've had a few different financial therapists on this podcast 498 00:21:38,119 --> 00:21:40,440 Speaker 1: over the years, because we do think that mental side 499 00:21:40,600 --> 00:21:44,040 Speaker 1: of money is so important, and so it's not just 500 00:21:44,080 --> 00:21:45,800 Speaker 1: about more money in the bank account. There are probably 501 00:21:45,840 --> 00:21:48,080 Speaker 1: other things that you need to do as well. And 502 00:21:48,119 --> 00:21:50,199 Speaker 1: I think it's just really important to put things in 503 00:21:50,640 --> 00:21:53,760 Speaker 1: perspective as well. Remember that progress takes a long time, 504 00:21:54,040 --> 00:21:57,119 Speaker 1: you know, whether we're talking about debt payoff, saving for retirement. 505 00:21:57,720 --> 00:22:00,400 Speaker 1: I think for some reason, Matt, everybody feels like they're behind, 506 00:22:00,840 --> 00:22:03,920 Speaker 1: but you're not racing anybody. And the more you let 507 00:22:03,960 --> 00:22:07,440 Speaker 1: anxiety take the reins, the harder it can be to 508 00:22:07,920 --> 00:22:11,199 Speaker 1: take action to drive progress. We feel powerless, we like 509 00:22:11,320 --> 00:22:14,520 Speaker 1: let that anxiety suck us off the ability and the 510 00:22:14,600 --> 00:22:16,760 Speaker 1: drive to get going on some of those money goals 511 00:22:16,760 --> 00:22:19,920 Speaker 1: that we have. I think unchecked anxiety can often lead 512 00:22:19,960 --> 00:22:23,520 Speaker 1: to unhelpful coping mechanisms, which like doom scrolling on your 513 00:22:23,520 --> 00:22:26,560 Speaker 1: phone or something like that, right or yo yo method, 514 00:22:26,640 --> 00:22:30,720 Speaker 1: attempts of fixing things, spending sprees that aren't terribly helpful, 515 00:22:30,720 --> 00:22:33,600 Speaker 1: that are actually perpetuating the problem. So I would suggest 516 00:22:33,680 --> 00:22:36,400 Speaker 1: checking out episode three seventy one where we talk about 517 00:22:36,440 --> 00:22:40,000 Speaker 1: how to use anxiety and stress to your advantage jiu 518 00:22:40,119 --> 00:22:44,040 Speaker 1: Jitsu style, because avoidance only makes the problem worse. We 519 00:22:44,119 --> 00:22:46,639 Speaker 1: know this same thing. If you haven't a fight with 520 00:22:46,680 --> 00:22:48,920 Speaker 1: your spouse, it's like, well, let's just not talk about 521 00:22:48,960 --> 00:22:51,480 Speaker 1: it and just agree to silently hate each other in 522 00:22:51,520 --> 00:22:53,720 Speaker 1: the process. Like, that's not a good way to move forward, 523 00:22:53,840 --> 00:22:56,399 Speaker 1: I say, tackling one money problem at a time, tracking 524 00:22:56,400 --> 00:22:59,480 Speaker 1: your progress, getting help if you need it. Those are 525 00:22:59,480 --> 00:23:01,639 Speaker 1: going to be the way to benefit yourself when it 526 00:23:01,640 --> 00:23:04,240 Speaker 1: comes to making progress with your money. Just don't let 527 00:23:04,400 --> 00:23:08,080 Speaker 1: these two reactions of anxiety and avoidance become the norm 528 00:23:08,119 --> 00:23:09,399 Speaker 1: in your financial life. Totally. 529 00:23:09,440 --> 00:23:12,400 Speaker 2: Yeah, let's keep talking about feelings. Studies about money and 530 00:23:12,720 --> 00:23:15,840 Speaker 2: happiness have found results all across the board. So there 531 00:23:15,840 --> 00:23:18,439 Speaker 2: are some studies out there that suggest that there's a 532 00:23:18,560 --> 00:23:20,920 Speaker 2: limit to the amount of happiness that money can buy, 533 00:23:21,280 --> 00:23:24,560 Speaker 2: that basically, beyond a low six figure income, you're essentially 534 00:23:24,560 --> 00:23:27,520 Speaker 2: going to see almost no increase to your levels of happiness. 535 00:23:27,720 --> 00:23:30,760 Speaker 2: But there's a new study from the Wharton School that 536 00:23:30,840 --> 00:23:33,760 Speaker 2: says that you can get even more happiness from money. 537 00:23:34,640 --> 00:23:36,479 Speaker 1: So the reason why, though, this is what's so important. 538 00:23:36,520 --> 00:23:39,400 Speaker 2: It's not because now all of a sudden you can 539 00:23:39,440 --> 00:23:41,960 Speaker 2: afford a boat when that was something you only dreamed 540 00:23:41,960 --> 00:23:42,520 Speaker 2: about before. 541 00:23:43,240 --> 00:23:46,040 Speaker 1: A researcher, I haven't met many happy boat owners. No, no, yeah, 542 00:23:46,040 --> 00:23:46,880 Speaker 1: it's always I'm sure. 543 00:23:46,920 --> 00:23:49,720 Speaker 2: The curve of diminishing returns is like even steeper, looks 544 00:23:49,720 --> 00:23:50,880 Speaker 2: like a boat than even like a new. 545 00:23:50,800 --> 00:23:52,760 Speaker 1: Car, rent a boat for the weekend, guys, by way, 546 00:23:53,160 --> 00:23:53,720 Speaker 1: try that out. 547 00:23:54,119 --> 00:23:56,000 Speaker 2: But one of the researchers summed it up like this, 548 00:23:56,600 --> 00:23:59,159 Speaker 2: and this is a quote, A greater feeling of control 549 00:23:59,200 --> 00:24:02,240 Speaker 2: over life can explaining about seventy five percent of the 550 00:24:02,280 --> 00:24:05,240 Speaker 2: association between money and happiness. So I think a big 551 00:24:05,280 --> 00:24:07,919 Speaker 2: part of what's happening is that when people have more money, 552 00:24:08,040 --> 00:24:14,200 Speaker 2: they have more control over their lives autonomy, like having 553 00:24:14,200 --> 00:24:18,080 Speaker 2: more agency. This we love because we know that using 554 00:24:18,080 --> 00:24:20,320 Speaker 2: money to increase your lifestyle, like certainly that's nice to 555 00:24:20,600 --> 00:24:23,840 Speaker 2: a degree, but it's what you don't spend that offers 556 00:24:23,840 --> 00:24:26,840 Speaker 2: you these greater levels of control. We're talking about that 557 00:24:26,880 --> 00:24:28,880 Speaker 2: margin and having money in the bank to where you're 558 00:24:28,920 --> 00:24:30,879 Speaker 2: not stressing over every little bump in the room. 559 00:24:30,920 --> 00:24:32,400 Speaker 1: Well, we talked about that with our lives a little 560 00:24:32,400 --> 00:24:34,840 Speaker 1: bit too recently at the beach matt and that was 561 00:24:34,840 --> 00:24:38,439 Speaker 1: a super fun convo. Really enjoyed that one. Hope listeners 562 00:24:38,520 --> 00:24:42,280 Speaker 1: enjoyed that one. But yeah, that that is what has 563 00:24:42,480 --> 00:24:45,639 Speaker 1: over time, It's been that greater level of freedom, flexibility, 564 00:24:45,960 --> 00:24:49,000 Speaker 1: and then that allows for optionality when it comes to 565 00:24:49,680 --> 00:24:51,840 Speaker 1: how much we work, what sort of work we pursue 566 00:24:52,320 --> 00:24:54,919 Speaker 1: and the ability to say no to things that we 567 00:24:55,000 --> 00:24:58,359 Speaker 1: don't want to do. But that takes again, that takes time. 568 00:24:59,000 --> 00:25:01,200 Speaker 1: But that is one of the biggest benefits that money 569 00:25:01,240 --> 00:25:04,480 Speaker 1: can provide. So I love that that maybe earning two 570 00:25:04,520 --> 00:25:07,560 Speaker 1: fifty k instead of one hundred k is going but 571 00:25:07,800 --> 00:25:10,880 Speaker 1: can potentially bring greater levels of happiness. Just make sure 572 00:25:11,119 --> 00:25:13,960 Speaker 1: you're spending quote unquote or saving that money in the 573 00:25:14,000 --> 00:25:15,720 Speaker 1: right way to achieve that happiness. That's right. 574 00:25:15,760 --> 00:25:18,560 Speaker 2: Spend it on your own freedom, right, not on stuff exactly. 575 00:25:18,800 --> 00:25:20,840 Speaker 1: So GQ, of all places, Matt, I know one of 576 00:25:20,840 --> 00:25:22,560 Speaker 1: your favorite magazines, you're so stylish. 577 00:25:22,600 --> 00:25:24,960 Speaker 2: Oh, thank you, better than your favorite, which is maxim 578 00:25:25,080 --> 00:25:25,600 Speaker 2: I remember that way? 579 00:25:26,840 --> 00:25:28,399 Speaker 1: Is that what? It still exists? Kidding? I don't know. 580 00:25:28,440 --> 00:25:32,840 Speaker 1: Does Yeah, we won't go there, Okay, so all places. 581 00:25:33,200 --> 00:25:37,239 Speaker 1: GQ had an article recently discussing how human beings are 582 00:25:37,280 --> 00:25:40,400 Speaker 1: wired and basically that we get used to things incredibly quickly. 583 00:25:40,400 --> 00:25:43,000 Speaker 1: We've talked about this before, Matt. The science behind kind 584 00:25:43,000 --> 00:25:47,239 Speaker 1: of are our brains and hacking happiness and what's known 585 00:25:47,280 --> 00:25:49,879 Speaker 1: as the hedonic treadmill. That once we get on the 586 00:25:49,880 --> 00:25:52,199 Speaker 1: hedonic treadmill, it's kind of hard to get off that 587 00:25:52,320 --> 00:25:55,960 Speaker 1: even when something ridiculously cool happens to you, we tend 588 00:25:56,000 --> 00:25:59,120 Speaker 1: to migrate back towards our baseline levels of happiness, and. 589 00:25:59,119 --> 00:26:01,320 Speaker 2: Not just something really cool happens, but even when something 590 00:26:01,400 --> 00:26:03,440 Speaker 2: really like terrible happens, right, like the worst thing that 591 00:26:03,480 --> 00:26:05,720 Speaker 2: could potentially happen to you in life, Because. 592 00:26:05,640 --> 00:26:06,800 Speaker 1: Like this, humans can overcome. 593 00:26:06,840 --> 00:26:09,600 Speaker 2: It was a study on quadriplegics, which is for a 594 00:26:09,680 --> 00:26:11,359 Speaker 2: lot of folks, probably one of the worst things they 595 00:26:11,359 --> 00:26:13,600 Speaker 2: could imagine. But even still those folks were able to 596 00:26:13,760 --> 00:26:16,920 Speaker 2: regain this sort of baseline of happiness, which is astounding. 597 00:26:17,000 --> 00:26:19,159 Speaker 1: Yeah, so you know, winning the lottery or buying a 598 00:26:19,160 --> 00:26:21,400 Speaker 1: new car feels amazing, but three months in, it's hard 599 00:26:21,400 --> 00:26:24,200 Speaker 1: to remember how we used to live, and our appreciation 600 00:26:24,280 --> 00:26:26,600 Speaker 1: for the new ride isn't the same. Fortunately, the same 601 00:26:26,680 --> 00:26:28,560 Speaker 1: is true on the other side. Like you just mentioned, Matt, 602 00:26:29,000 --> 00:26:31,520 Speaker 1: resilience is kind of built into our human DNA as well. 603 00:26:31,920 --> 00:26:34,320 Speaker 1: And it just makes me think about our como with 604 00:26:34,520 --> 00:26:38,760 Speaker 1: Darius Feru recently about stoicism. It's this powerful tool in 605 00:26:38,800 --> 00:26:41,840 Speaker 1: our arsenal against the hedonic treadmill. So I would suggest 606 00:26:41,880 --> 00:26:43,960 Speaker 1: going back and listen to that recent episode. If you 607 00:26:44,000 --> 00:26:46,960 Speaker 1: haven't gratitude, I think is another approach math that we 608 00:26:46,960 --> 00:26:50,479 Speaker 1: should all be taking here. Building wealth is awesome, but 609 00:26:50,520 --> 00:26:52,840 Speaker 1: life is so much more than that. So put your 610 00:26:52,880 --> 00:26:56,280 Speaker 1: wealth building efforts in their proper place. They're important. But 611 00:26:56,359 --> 00:26:58,439 Speaker 1: I think the more we kind of put that money 612 00:26:58,520 --> 00:27:04,440 Speaker 1: into action attempting to make ourselves happier by buying more stuff, 613 00:27:05,119 --> 00:27:07,040 Speaker 1: actually it's gonna have the opposite impact. It's going to 614 00:27:07,119 --> 00:27:09,600 Speaker 1: leave us without that optionality. It's going to leave us 615 00:27:09,600 --> 00:27:11,880 Speaker 1: with more things that like just clog our mind, clog 616 00:27:11,920 --> 00:27:14,679 Speaker 1: our brains. So I think GQ was spot on on 617 00:27:14,720 --> 00:27:15,040 Speaker 1: this one. 618 00:27:15,760 --> 00:27:17,960 Speaker 2: That's one that they got right, Joel as opposed to 619 00:27:18,359 --> 00:27:20,399 Speaker 2: I don't know what colors you are and aren't allowed 620 00:27:20,400 --> 00:27:23,000 Speaker 2: to wear at certain points right here. So it turns 621 00:27:23,000 --> 00:27:28,080 Speaker 2: out bundling is back Disney Hulu as well as Max, 622 00:27:28,200 --> 00:27:31,400 Speaker 2: which I'm still getting used to saying, not HBO Max. 623 00:27:32,080 --> 00:27:33,760 Speaker 2: They just announced that the price that you're going to 624 00:27:33,800 --> 00:27:35,840 Speaker 2: pay if you want all three is going to be 625 00:27:35,840 --> 00:27:38,320 Speaker 2: seventeen dollars a month with ADS, and it's going to 626 00:27:38,400 --> 00:27:41,720 Speaker 2: be thirty dollars without. If I was bundling, that would 627 00:27:41,720 --> 00:27:42,960 Speaker 2: be the one that I'd be going for. 628 00:27:43,560 --> 00:27:46,119 Speaker 1: They're combining forces here exactly. 629 00:27:45,680 --> 00:27:47,639 Speaker 2: Exactly, and so that's a pretty solid discount over what 630 00:27:47,720 --> 00:27:50,920 Speaker 2: you'd pay for each one of those individually. But streaming 631 00:27:50,960 --> 00:27:54,119 Speaker 2: service operators, they aren't dumb. And part of the reason 632 00:27:54,160 --> 00:27:57,200 Speaker 2: that they're doing this, that they're offering this new bundle, 633 00:27:57,359 --> 00:28:00,440 Speaker 2: is because people are finally wising up. They're rotating out 634 00:28:00,480 --> 00:28:04,480 Speaker 2: their subscriptions. They're canceling after they've binged their favorite show, 635 00:28:04,680 --> 00:28:07,399 Speaker 2: which isn't great for their bottom line, of course, and 636 00:28:07,440 --> 00:28:09,199 Speaker 2: so if they can toss you a better price for 637 00:28:09,320 --> 00:28:12,480 Speaker 2: multiple services, they're hoping that it's gonna be a little 638 00:28:12,480 --> 00:28:13,760 Speaker 2: stickier that you're never gonna leave. 639 00:28:13,920 --> 00:28:16,160 Speaker 1: Oh, seventeen bucks a month, Well, I get all three, 640 00:28:16,200 --> 00:28:18,080 Speaker 1: so I'm just gonna keep it year round, exactly. 641 00:28:18,240 --> 00:28:20,479 Speaker 2: So you need to be like me and my family 642 00:28:20,520 --> 00:28:23,280 Speaker 2: and resist like we've resisted Disney. 643 00:28:23,359 --> 00:28:26,000 Speaker 1: Still, you're not paying for any streaming services currently, right. 644 00:28:25,920 --> 00:28:28,600 Speaker 2: Well, we don't technically count Amazon Prime because that almost 645 00:28:28,600 --> 00:28:31,240 Speaker 2: feels like it's hard to fault. Yeah, but yeah, I 646 00:28:31,240 --> 00:28:33,840 Speaker 2: don't know. It's to the kids' dismay. That's one Disney 647 00:28:33,880 --> 00:28:37,640 Speaker 2: in particular is one that we've been avoiding. But even 648 00:28:37,640 --> 00:28:39,440 Speaker 2: though we did splurge on peacock. 649 00:28:39,600 --> 00:28:42,760 Speaker 1: I'm gonna give them some pitchforks so they can march 650 00:28:42,760 --> 00:28:43,640 Speaker 1: around the house. Here. 651 00:28:43,920 --> 00:28:46,360 Speaker 2: Here is one reason that I felt very comfortable. So 652 00:28:46,720 --> 00:28:48,719 Speaker 2: you know, you can justify it and try to inspire 653 00:28:48,720 --> 00:28:50,360 Speaker 2: your kids to get out there and be an athlete 654 00:28:50,360 --> 00:28:52,280 Speaker 2: that kind of thing, and it's just eh, the Olympics 655 00:28:52,280 --> 00:28:55,640 Speaker 2: are fun, right, But also there is a finish line 656 00:28:56,400 --> 00:28:59,440 Speaker 2: put a good metaphor as far as the Olympics. But 657 00:28:59,440 --> 00:29:01,440 Speaker 2: there is a eight that I know I'm going to 658 00:29:01,520 --> 00:29:04,000 Speaker 2: cancel peacock. You know what date that is, Joel, when 659 00:29:04,000 --> 00:29:07,360 Speaker 2: the Olympics forever one month in. It is August twelfth, 660 00:29:07,400 --> 00:29:09,640 Speaker 2: which is the day after August eleventh, which is when 661 00:29:09,640 --> 00:29:12,800 Speaker 2: the closing ceremony is. So I think that's the difference. 662 00:29:12,800 --> 00:29:15,120 Speaker 2: If you know that you can be disciplined and focused 663 00:29:15,240 --> 00:29:18,760 Speaker 2: and be like surgical with how it is that you 664 00:29:18,760 --> 00:29:21,160 Speaker 2: you stream, if you are all about looking to cut 665 00:29:21,200 --> 00:29:23,600 Speaker 2: back and save while still being able to experience different 666 00:29:23,600 --> 00:29:26,000 Speaker 2: forms of entertainment, that I still think you can get 667 00:29:26,000 --> 00:29:28,400 Speaker 2: the best deal by not bundling and not falling parade 668 00:29:28,480 --> 00:29:29,320 Speaker 2: to some of these offerings. 669 00:29:29,360 --> 00:29:31,320 Speaker 1: I think that's exactly right. I think the bundle to 670 00:29:31,600 --> 00:29:34,360 Speaker 1: the person who loves a good deal like myself. Matt. 671 00:29:34,400 --> 00:29:35,840 Speaker 1: When I first read this, I was like, Oh, that's 672 00:29:35,840 --> 00:29:37,320 Speaker 1: a great deal. And then the more I thought about it, 673 00:29:37,360 --> 00:29:39,480 Speaker 1: I was like, do you have the time to be 674 00:29:39,480 --> 00:29:42,440 Speaker 1: able to spend those services at the same time. That's 675 00:29:42,480 --> 00:29:45,440 Speaker 1: the thing is, I really don't watch nearly as much 676 00:29:45,480 --> 00:29:47,760 Speaker 1: TV as I used to. I know, the average American 677 00:29:47,840 --> 00:29:50,000 Speaker 1: we talk about that, like how much TV they watched 678 00:29:50,000 --> 00:29:52,400 Speaker 1: in America's past time, probably be better if they watch less. 679 00:29:52,920 --> 00:29:54,600 Speaker 1: And part of the way you can do that is 680 00:29:54,680 --> 00:29:57,520 Speaker 1: just having fewer options at your disposal. You're probably going 681 00:29:57,520 --> 00:29:59,480 Speaker 1: to watch less TV, you're less tempted, and you're gonna 682 00:29:59,480 --> 00:30:02,239 Speaker 1: spend less month. But this bundle is probably going to 683 00:30:02,320 --> 00:30:03,840 Speaker 1: you want to get your money's word, and you're gonna 684 00:30:03,840 --> 00:30:06,480 Speaker 1: watch more TV. And it's also just gonna be it's 685 00:30:06,480 --> 00:30:08,600 Speaker 1: gonna be stickier, like you aren't going to cancel in 686 00:30:08,640 --> 00:30:11,560 Speaker 1: the same way. But I think you're right, Matt. One off, Hey, 687 00:30:11,600 --> 00:30:13,680 Speaker 1: I'm watching the Olympics. That's why I have Peacock. Hey, 688 00:30:13,680 --> 00:30:16,120 Speaker 1: I'm watching this one show and then once it's over, 689 00:30:16,480 --> 00:30:17,800 Speaker 1: I'm gonna cancel that too. 690 00:30:18,200 --> 00:30:20,080 Speaker 2: Just be ruthless about that. And I think that these 691 00:30:20,080 --> 00:30:22,880 Speaker 2: bundles are gonna cause people to be less ruthless about 692 00:30:22,960 --> 00:30:23,959 Speaker 2: cutting their subscriptions. 693 00:30:24,080 --> 00:30:25,800 Speaker 1: That's the whole point. It seems like a good deal. 694 00:30:25,840 --> 00:30:27,200 Speaker 1: They're gonna make it easy for you. 695 00:30:28,400 --> 00:30:30,160 Speaker 2: Yeah, yeah, you're gonna end up spending more. 696 00:30:30,200 --> 00:30:33,160 Speaker 1: All Right. On the streaming note, an all sports streaming 697 00:30:33,160 --> 00:30:34,800 Speaker 1: app is coming this fall. This has kind of been 698 00:30:35,120 --> 00:30:37,480 Speaker 1: in the works, kind of being talked about for months 699 00:30:37,480 --> 00:30:41,200 Speaker 1: and months and months now, and that's been for most people, 700 00:30:41,240 --> 00:30:44,040 Speaker 1: matt the most expensive part of their cable or streaming package. 701 00:30:44,120 --> 00:30:45,680 Speaker 1: So if you had cable back in the day and 702 00:30:45,720 --> 00:30:49,080 Speaker 1: you didn't watch sports, you were the sucker because ESPN 703 00:30:49,160 --> 00:30:51,920 Speaker 1: was by far the most expensive thing in your cable 704 00:30:51,920 --> 00:30:55,080 Speaker 1: TV package and you were paying for it even while 705 00:30:55,120 --> 00:30:59,080 Speaker 1: you were just watching HGTV. Right, but streaming sports might 706 00:30:59,080 --> 00:31:01,880 Speaker 1: be getting better. Venue Sports is the name of this 707 00:31:01,920 --> 00:31:05,920 Speaker 1: new service. It's a joint venture by Fox and others 708 00:31:06,400 --> 00:31:09,440 Speaker 1: to basically beam collegiate and pro athletics onto your TV. 709 00:31:10,280 --> 00:31:12,400 Speaker 1: And while this service is going to feature a lot 710 00:31:12,440 --> 00:31:16,320 Speaker 1: of sports action, including what ESPN channels FS one, F 711 00:31:16,440 --> 00:31:18,160 Speaker 1: S two, I think T and T, although I think 712 00:31:18,160 --> 00:31:20,560 Speaker 1: they're losing the NBA, so it's going to be interesting 713 00:31:20,560 --> 00:31:22,800 Speaker 1: to see how that works out. It's not going to 714 00:31:22,880 --> 00:31:25,920 Speaker 1: include all the sports, right, and there's a lot of 715 00:31:25,920 --> 00:31:27,960 Speaker 1: soccer you're going to miss out on it. It's not 716 00:31:27,960 --> 00:31:31,480 Speaker 1: going to include streaming specific games that Amazon and Netflix run, 717 00:31:31,520 --> 00:31:33,720 Speaker 1: so if you're like looking for those specialty football games 718 00:31:33,920 --> 00:31:35,920 Speaker 1: or peacock I think they're going to have some NFL 719 00:31:35,920 --> 00:31:39,040 Speaker 1: playoff games too. It's also not gonna include apparently the 720 00:31:39,120 --> 00:31:42,240 Speaker 1: regional sports channels, which is a big miss. And the 721 00:31:42,240 --> 00:31:44,680 Speaker 1: price is forty three bucks a month, so if a 722 00:31:44,680 --> 00:31:46,600 Speaker 1: couple of your favorite sports on aren't on there, that's 723 00:31:46,680 --> 00:31:49,440 Speaker 1: up there. Yeah, that's a lot of money and it's 724 00:31:49,440 --> 00:31:51,600 Speaker 1: probably gonna be worth it to some sports nuts map, 725 00:31:51,600 --> 00:31:53,120 Speaker 1: but for a lot of other people. I don't know 726 00:31:53,120 --> 00:31:55,360 Speaker 1: if it will be. Again, I'm curious to see how 727 00:31:55,400 --> 00:31:57,880 Speaker 1: this shakes out. We don't know all the details yet, 728 00:31:58,400 --> 00:32:00,320 Speaker 1: But it also sounds like they're gonna include in you 729 00:32:00,520 --> 00:32:02,680 Speaker 1: this new service in a bundle of sorts with some 730 00:32:02,720 --> 00:32:04,720 Speaker 1: of the ones we just mentioned, which could make the 731 00:32:04,760 --> 00:32:09,720 Speaker 1: price more attractive to sell them a lot like cable TV, right, dude, exactly. Yeah, 732 00:32:09,720 --> 00:32:12,280 Speaker 1: like we're slowly reverting back to like why don't we 733 00:32:12,320 --> 00:32:13,960 Speaker 1: just does to go back I think a lot of 734 00:32:13,960 --> 00:32:16,160 Speaker 1: folks are, well, I honestly wanting to go back to 735 00:32:16,640 --> 00:32:18,360 Speaker 1: just paying for cable because which makes you think, well, 736 00:32:18,360 --> 00:32:19,920 Speaker 1: why don't you just do that in the first place. 737 00:32:20,040 --> 00:32:22,120 Speaker 2: Yeah, I think a lot of people will find themselves 738 00:32:22,120 --> 00:32:24,640 Speaker 2: something like YouTube TV. It costs more, but it might 739 00:32:24,680 --> 00:32:27,200 Speaker 2: provide the best of all worlds because you are getting 740 00:32:27,240 --> 00:32:28,880 Speaker 2: some of those other channels included too. 741 00:32:29,120 --> 00:32:30,360 Speaker 1: Yeah, I think that can make sense. 742 00:32:30,360 --> 00:32:31,880 Speaker 2: It might be better than cable, But a lot of 743 00:32:31,920 --> 00:32:33,560 Speaker 2: people going back to cable for good reason. I do 744 00:32:33,600 --> 00:32:35,120 Speaker 2: think a lot of folks, though, are going to be 745 00:32:35,120 --> 00:32:38,040 Speaker 2: willing to pay this higher price for sports because, like, 746 00:32:38,080 --> 00:32:40,080 Speaker 2: if you think about other forms of entertainment, like other 747 00:32:40,120 --> 00:32:42,920 Speaker 2: TV shows, there are a lot of replacements or whatever, 748 00:32:43,040 --> 00:32:46,120 Speaker 2: Like there are substitutes we like the Bear. Well, if 749 00:32:46,120 --> 00:32:48,360 Speaker 2: you don't have uh Hulu, but you kind of want 750 00:32:48,360 --> 00:32:50,440 Speaker 2: to watch them cooking drama, maybe you know you watch 751 00:32:50,520 --> 00:32:53,320 Speaker 2: some like Top Chef episodes or Yah, there's a lot 752 00:32:53,360 --> 00:32:55,680 Speaker 2: a lot of different cooking shows out there. See watched 753 00:32:55,680 --> 00:32:58,400 Speaker 2: friend of the show Frankie Clenza for free over on 754 00:32:58,440 --> 00:33:00,880 Speaker 2: Taste Made. But when it comes to sports, when if 755 00:33:00,880 --> 00:33:03,200 Speaker 2: you're a fan of a particular team, there's no substitute, 756 00:33:03,320 --> 00:33:05,200 Speaker 2: And so because of that and given like the high 757 00:33:05,280 --> 00:33:08,280 Speaker 2: price point of live sports, if you're gonna, if you're 758 00:33:08,320 --> 00:33:10,360 Speaker 2: looking to do it in real life, you're used to 759 00:33:10,440 --> 00:33:13,280 Speaker 2: paying like tons of money for like going to see 760 00:33:13,280 --> 00:33:16,200 Speaker 2: one match, one game in person, and said, the ability 761 00:33:16,480 --> 00:33:18,720 Speaker 2: to have that for a much reduced price and still 762 00:33:18,840 --> 00:33:20,360 Speaker 2: be able to see your favorite team, I mean, I 763 00:33:20,400 --> 00:33:23,080 Speaker 2: think that's why there has been such a premium plays 764 00:33:23,080 --> 00:33:25,400 Speaker 2: on sports, because there is no substitute as opposed to 765 00:33:25,800 --> 00:33:27,960 Speaker 2: other forms of entertainment that we watch on TV. 766 00:33:28,040 --> 00:33:30,560 Speaker 1: That's right, You're exactly right. By the way that I 767 00:33:30,560 --> 00:33:34,280 Speaker 1: saw Roku is, which is free streaming, you can get 768 00:33:34,840 --> 00:33:37,560 Speaker 1: Sunday Major League Baseball games or at least like one 769 00:33:37,640 --> 00:33:39,320 Speaker 1: or two of them I think, on Roku for free 770 00:33:39,320 --> 00:33:42,040 Speaker 1: these days. So that's kind of cool. Like almost nothing 771 00:33:42,120 --> 00:33:44,560 Speaker 1: in the sports streaming world is free except for that. 772 00:33:44,560 --> 00:33:48,000 Speaker 2: That feels very like very American, like Sunday afternoon with 773 00:33:48,040 --> 00:33:48,760 Speaker 2: a baseball game on. 774 00:33:48,800 --> 00:33:50,640 Speaker 1: Doesn't that sound good? Yeah? Well, and don't forget about 775 00:33:50,640 --> 00:33:53,560 Speaker 1: Antenna's too, by the way, over the air, there's still 776 00:33:53,560 --> 00:33:55,600 Speaker 1: a lot of stuff you can watch there, including some 777 00:33:55,640 --> 00:33:58,640 Speaker 1: sports pretty easily as well. From yeah or for free 778 00:33:58,680 --> 00:33:58,880 Speaker 1: I don't. 779 00:33:58,920 --> 00:34:00,480 Speaker 2: I still don't understand exactly how it works, but a 780 00:34:00,480 --> 00:34:02,440 Speaker 2: lot of a lot of the new TVs like that, 781 00:34:02,520 --> 00:34:05,640 Speaker 2: We've got a Samsung frame and we get hundreds of 782 00:34:05,680 --> 00:34:08,680 Speaker 2: channels through the box somehow, like we are not paying 783 00:34:08,719 --> 00:34:11,279 Speaker 2: for cable. And when we got this TV, I was 784 00:34:11,320 --> 00:34:14,920 Speaker 2: playing into of course, hook up my thirty dollars digital 785 00:34:15,280 --> 00:34:18,000 Speaker 2: HD antenna, you know, like the little flat thing he 786 00:34:18,080 --> 00:34:20,080 Speaker 2: taped to the window. But then I realized I didn't 787 00:34:20,080 --> 00:34:21,960 Speaker 2: have to do that. So there's just there's a lot 788 00:34:22,000 --> 00:34:23,600 Speaker 2: of content out there that you don't even have to 789 00:34:23,600 --> 00:34:25,760 Speaker 2: pay for. Yep, that's true that we want to point 790 00:34:25,840 --> 00:34:27,759 Speaker 2: folks towards. But let's wrap it up. 791 00:34:27,800 --> 00:34:27,920 Speaker 1: Man. 792 00:34:28,000 --> 00:34:30,640 Speaker 2: That's gonna be it for this episode. We hope everybody 793 00:34:30,719 --> 00:34:33,480 Speaker 2: has a fantastic weekend. We'll see you back here on 794 00:34:33,520 --> 00:34:36,440 Speaker 2: Monday with a fresh batch of listener questions for you. 795 00:34:36,600 --> 00:34:39,920 Speaker 2: So until next time, best Friends Out, Best Friends Out.