1 00:00:00,080 --> 00:00:02,960 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt. 2 00:00:03,160 --> 00:00:08,160 Speaker 1: Today we're talking toxic Ticketmaster, water waste, and Macrone's mission. 3 00:00:28,360 --> 00:00:30,520 Speaker 1: I'm surprised you didn't roll your art there on the McCrone. 4 00:00:31,080 --> 00:00:34,520 Speaker 1: I took Spanish in high school college. Matt related to French. 5 00:00:34,560 --> 00:00:36,519 Speaker 1: That's true. You can always come on, Joel. Though for 6 00:00:36,880 --> 00:00:40,400 Speaker 1: some alliterative headlines, you should have capped it off with 7 00:00:40,760 --> 00:00:43,320 Speaker 1: rising rates, which we'll get to. Yeah, I'll talk about 8 00:00:43,360 --> 00:00:46,840 Speaker 1: that too. Postponed passports. Let's just go ahead and round 9 00:00:46,840 --> 00:00:48,760 Speaker 1: it out. But this is our Friday flight and we're 10 00:00:48,760 --> 00:00:50,720 Speaker 1: going to cover some of the best headlines that we 11 00:00:50,760 --> 00:00:52,440 Speaker 1: came across this week, the ones that we think are 12 00:00:52,479 --> 00:00:55,680 Speaker 1: going to impact your finances the most, and what it 13 00:00:55,760 --> 00:00:57,640 Speaker 1: is that you should be doing in response to the 14 00:00:57,720 --> 00:01:00,280 Speaker 1: stories as well. Okay, just briefly wanted to mention listener 15 00:01:00,360 --> 00:01:02,400 Speaker 1: Jen posted in our Facebook group this week. She said, 16 00:01:02,640 --> 00:01:04,120 Speaker 1: since none of us are going to be interviewed by 17 00:01:04,160 --> 00:01:06,360 Speaker 1: Matt and Joel, which don't speak too soon, Jen, we 18 00:01:06,440 --> 00:01:08,160 Speaker 1: might be reaching out to you. You never know, you 19 00:01:08,160 --> 00:01:10,160 Speaker 1: never know, you never know, and she said, well, I 20 00:01:10,160 --> 00:01:12,200 Speaker 1: want to know what everyone's craft beer equivalent is, so 21 00:01:12,200 --> 00:01:16,520 Speaker 1: It just really started this fund of people posting the 22 00:01:16,560 --> 00:01:18,160 Speaker 1: stuff that they like to spend money on. It was 23 00:01:18,200 --> 00:01:19,760 Speaker 1: just fun to see. By the way, if you're not 24 00:01:19,800 --> 00:01:21,920 Speaker 1: a member of the how to Money Facebook group and 25 00:01:22,000 --> 00:01:24,720 Speaker 1: you're also on Facebook, you should totally join it because 26 00:01:25,000 --> 00:01:27,760 Speaker 1: like that's the only good redeeming part about Facebook, I think. 27 00:01:27,959 --> 00:01:31,280 Speaker 1: But it was just really neat to see what everybody 28 00:01:31,640 --> 00:01:34,119 Speaker 1: spends money on, like what they the stuff they prioritize 29 00:01:34,200 --> 00:01:35,840 Speaker 1: in their lives. Yeah, yeah, so this must have it 30 00:01:35,880 --> 00:01:37,800 Speaker 1: must have been a popular thread because Kate actually brought it. 31 00:01:37,840 --> 00:01:39,360 Speaker 1: I'm never all it, so I feel like you added 32 00:01:39,400 --> 00:01:42,520 Speaker 1: that part. And if you're on Facebook, because I'm on Facebook, 33 00:01:42,520 --> 00:01:44,920 Speaker 1: but I'm like I'm a member or whatever, like having 34 00:01:44,959 --> 00:01:47,039 Speaker 1: a kid, you're number there. I literally it's one of 35 00:01:47,040 --> 00:01:50,320 Speaker 1: the social media platforms that I just decided I need 36 00:01:50,360 --> 00:01:52,080 Speaker 1: to remove from a life. So I don't know, you're 37 00:01:52,120 --> 00:01:55,840 Speaker 1: like the dead beat dad of our Facebook group exactly. 38 00:01:55,920 --> 00:01:58,960 Speaker 1: Everyone knows it. Well, Kate mentioned this particular thread and 39 00:01:59,040 --> 00:02:01,080 Speaker 1: it sounds like a blew up. But did you have 40 00:02:01,080 --> 00:02:04,000 Speaker 1: some favorites in particular that folks mentioned. Well, I did 41 00:02:04,080 --> 00:02:06,280 Speaker 1: notice that a lot of people will have beverages that 42 00:02:06,320 --> 00:02:08,960 Speaker 1: they prioritize coffee in particular. Okay, a lot of people 43 00:02:09,000 --> 00:02:10,880 Speaker 1: go to coffee dire. Actually I can get behind that. 44 00:02:11,040 --> 00:02:14,400 Speaker 1: I'm actually thinking about getting a pretty nice grinder at it. 45 00:02:14,400 --> 00:02:16,520 Speaker 1: I keep getting I don't want, I don't want to 46 00:02:16,520 --> 00:02:19,160 Speaker 1: talk about it. Okay, you're about to me to decide 47 00:02:19,240 --> 00:02:21,680 Speaker 1: what Kate and I purchase for our home. Well, you 48 00:02:21,720 --> 00:02:24,799 Speaker 1: like coffee a lot, though, I really do. Yeah. Absolutely, 49 00:02:25,000 --> 00:02:26,720 Speaker 1: somebody else, by the way, I said, think about up 50 00:02:26,720 --> 00:02:28,760 Speaker 1: in the kind of grinder, and they have, all right, 51 00:02:28,760 --> 00:02:30,200 Speaker 1: get the nice one, get the nice one. I think 52 00:02:30,200 --> 00:02:31,799 Speaker 1: you can. You can, you can spring for it. But 53 00:02:31,919 --> 00:02:34,120 Speaker 1: someone else had expensive board games, which, of course you 54 00:02:35,760 --> 00:02:38,359 Speaker 1: or in on that. We don't play nearly as much 55 00:02:38,360 --> 00:02:40,840 Speaker 1: as we used to, but sixty dollars game less time 56 00:02:40,880 --> 00:02:42,840 Speaker 1: to just hang out with one of us. But it's 57 00:02:42,880 --> 00:02:44,520 Speaker 1: well worth it to buy a couple of good board games, 58 00:02:44,600 --> 00:02:46,600 Speaker 1: or you know, five or ten. And then someone said 59 00:02:46,639 --> 00:02:49,560 Speaker 1: competitive darts. I don't even know what that looks like, 60 00:02:49,800 --> 00:02:51,520 Speaker 1: or you just is it kind of like a pool 61 00:02:51,560 --> 00:02:53,959 Speaker 1: queue that you get a nicer Q stick or something 62 00:02:54,000 --> 00:02:56,320 Speaker 1: like the competitive I'm assuming darts that you throw at 63 00:02:56,360 --> 00:02:58,560 Speaker 1: like a dart board, right, But I'm saying like, similar 64 00:02:58,560 --> 00:03:00,400 Speaker 1: to a poolue or people up, I can get the 65 00:03:00,480 --> 00:03:02,040 Speaker 1: nice ones. Do they have fancied darts? Oh? I'm sure 66 00:03:02,080 --> 00:03:03,760 Speaker 1: they do. Okay, you can get like the cheap ones 67 00:03:03,800 --> 00:03:06,160 Speaker 1: that come with like the kit you know that you 68 00:03:06,160 --> 00:03:07,920 Speaker 1: buy from the toy store, or I'm sure you can 69 00:03:07,960 --> 00:03:11,359 Speaker 1: get some that are really nice that are hand tied weight. 70 00:03:11,600 --> 00:03:13,520 Speaker 1: It makes me think of like phishing flies, like you 71 00:03:13,520 --> 00:03:16,120 Speaker 1: can buy like fly fishing. You can get the standard 72 00:03:16,160 --> 00:03:19,840 Speaker 1: issue flies, but then it's also an art. Yeah, although 73 00:03:19,880 --> 00:03:22,240 Speaker 1: I'm not even sure that folks use those to fish with. 74 00:03:22,320 --> 00:03:25,680 Speaker 1: I think they're just kinda on display. But no, I 75 00:03:25,800 --> 00:03:29,480 Speaker 1: love this. I love that somebody put competitive darts. I'm 76 00:03:29,560 --> 00:03:32,000 Speaker 1: also curious how much they could potentially cost, Like what's 77 00:03:32,000 --> 00:03:34,920 Speaker 1: the range of really nice darts I would be fascinated 78 00:03:34,960 --> 00:03:37,600 Speaker 1: to now? I bet they throw real good, real nice. 79 00:03:37,840 --> 00:03:40,240 Speaker 1: But I love, honestly the weirder the better here because 80 00:03:40,360 --> 00:03:42,280 Speaker 1: what it makes me think is that folks have given 81 00:03:42,360 --> 00:03:44,320 Speaker 1: some time, They've given some thought to what it is 82 00:03:44,320 --> 00:03:46,240 Speaker 1: that they want to spend their money on, as opposed 83 00:03:46,240 --> 00:03:48,520 Speaker 1: to just going with a flow and spending money on 84 00:03:48,560 --> 00:03:50,880 Speaker 1: whatever the internet it tells them that they should be 85 00:03:50,880 --> 00:03:52,880 Speaker 1: spending their money on. It makes me think a little 86 00:03:52,880 --> 00:03:54,920 Speaker 1: bit about a conversation we're planning to have next week 87 00:03:54,960 --> 00:03:58,400 Speaker 1: about stealth wealth and how it's important to spend in 88 00:03:58,520 --> 00:04:01,040 Speaker 1: ways that reflect our values because it's just so easy 89 00:04:01,080 --> 00:04:03,200 Speaker 1: to get sucked into spending in ways that other people 90 00:04:03,200 --> 00:04:05,480 Speaker 1: say are important, exactly not taking the time to figure 91 00:04:05,520 --> 00:04:07,600 Speaker 1: out what matters to us. So thanks Jen for totally 92 00:04:07,680 --> 00:04:09,400 Speaker 1: making that fun thread in the babook. I love that. 93 00:04:09,480 --> 00:04:11,240 Speaker 1: All right, Matt, let's move on. Let's get to the 94 00:04:11,320 --> 00:04:14,120 Speaker 1: Friday Flight the Stamp League of stories we found interesting 95 00:04:14,200 --> 00:04:16,280 Speaker 1: this week. There's a lot to cover, a lots to 96 00:04:16,320 --> 00:04:19,480 Speaker 1: talk about FED interest rate hikes. That was a top 97 00:04:19,520 --> 00:04:21,760 Speaker 1: story of this week, right, and what do they do 98 00:04:21,760 --> 00:04:24,880 Speaker 1: on Wednesday? They kept hiking rates And although they kind 99 00:04:24,880 --> 00:04:27,359 Speaker 1: of signaled that maybe we're starting to get close to 100 00:04:27,400 --> 00:04:30,240 Speaker 1: the end of rate hikes, that remains to be remains 101 00:04:30,240 --> 00:04:31,680 Speaker 1: to be seen, but that's at least kind of what 102 00:04:31,720 --> 00:04:33,880 Speaker 1: they're signaling. See well, I mean, so the balance was 103 00:04:33,960 --> 00:04:37,480 Speaker 1: do you raise rates to kind of combat inflation or 104 00:04:37,520 --> 00:04:39,400 Speaker 1: do we not raise rates in order to give the 105 00:04:39,400 --> 00:04:41,039 Speaker 1: banks that really if it's just sort of walk in 106 00:04:41,080 --> 00:04:43,920 Speaker 1: that tight rope and actually j Pal he mentioned in 107 00:04:43,920 --> 00:04:46,960 Speaker 1: a statement too that by slightly raising interest rates not 108 00:04:47,000 --> 00:04:48,360 Speaker 1: as high as maybe some of the governors, some of 109 00:04:48,400 --> 00:04:51,440 Speaker 1: the FED governors wanted to, that will likely tighten up 110 00:04:51,520 --> 00:04:53,680 Speaker 1: lending standards. And what that means is banks will essentially 111 00:04:53,720 --> 00:04:56,240 Speaker 1: be lending out less money, which should in turn also 112 00:04:56,400 --> 00:04:58,640 Speaker 1: drive down inflation, because if there's less money floating around 113 00:04:58,680 --> 00:05:02,159 Speaker 1: in our financials system, they'll just be less money to spend. Yeah, 114 00:05:02,200 --> 00:05:04,640 Speaker 1: And basically the FED was signaling that inflation is still 115 00:05:04,960 --> 00:05:07,599 Speaker 1: the top priority, even though kind of what's been happening 116 00:05:07,600 --> 00:05:10,240 Speaker 1: in the banking sector has been a little concerning right 117 00:05:10,279 --> 00:05:12,200 Speaker 1: over the last couple of weeks, And I think it 118 00:05:12,200 --> 00:05:14,160 Speaker 1: makes sense for more worth setting, like and it's it's 119 00:05:14,200 --> 00:05:16,640 Speaker 1: good news for savers too, even though, but it's it's 120 00:05:16,680 --> 00:05:18,800 Speaker 1: not great news if you've got something like credit card 121 00:05:18,800 --> 00:05:20,640 Speaker 1: debt on you haven't paid off. We've been saying that 122 00:05:21,040 --> 00:05:23,360 Speaker 1: for months and really over a year now, Like, hey, 123 00:05:23,400 --> 00:05:25,320 Speaker 1: these rising rates mean you got to get rid of 124 00:05:25,320 --> 00:05:28,200 Speaker 1: that credit card debt as quickly as possible because it 125 00:05:28,279 --> 00:05:30,359 Speaker 1: just continues to get worse. And if you want to 126 00:05:30,400 --> 00:05:32,080 Speaker 1: know more about what these rate hikes are doing to 127 00:05:32,080 --> 00:05:34,320 Speaker 1: your finances, by the way, we just talked about that 128 00:05:34,360 --> 00:05:36,360 Speaker 1: in episode six forty four, so check that one out 129 00:05:36,400 --> 00:05:38,760 Speaker 1: if you haven't had a chance to listen. But even 130 00:05:38,760 --> 00:05:41,400 Speaker 1: though interest rates kind of took the top slot, what's 131 00:05:41,400 --> 00:05:43,320 Speaker 1: happening with the banks is still front of mine too, 132 00:05:43,360 --> 00:05:46,080 Speaker 1: And so Matt, let's talk about everyone's favorite topic right now, 133 00:05:46,120 --> 00:05:50,600 Speaker 1: FDIC insurance. I think most listeners probably have seen more headlines, 134 00:05:50,600 --> 00:05:54,200 Speaker 1: have read more about FDIC insurance over the past couple 135 00:05:54,240 --> 00:05:56,839 Speaker 1: of weeks then at any time previously in their lives, 136 00:05:57,200 --> 00:05:59,520 Speaker 1: and debates are starting to rage about whether or not 137 00:05:59,600 --> 00:06:02,760 Speaker 1: fdi CE insurance is a good thing. Should we raise 138 00:06:02,839 --> 00:06:05,520 Speaker 1: limits to prevent future bank grounds, or should we eliminate 139 00:06:05,560 --> 00:06:08,839 Speaker 1: FDIC insurance altogether. There are proposals kind of on both 140 00:06:08,880 --> 00:06:12,039 Speaker 1: sides because kind of in actuality, what happened was a 141 00:06:12,080 --> 00:06:15,240 Speaker 1: lot of people with uninsured deposits got bailed out when 142 00:06:15,279 --> 00:06:18,039 Speaker 1: those couple of banks collapsed. So then the nature of 143 00:06:18,080 --> 00:06:21,960 Speaker 1: fi C insurance starts to come into question, and you know, 144 00:06:22,000 --> 00:06:24,560 Speaker 1: wonky people are debating these things. My favorite proposal though, 145 00:06:24,560 --> 00:06:27,600 Speaker 1: that I saw, was to maybe keep FDIC insurance where 146 00:06:27,600 --> 00:06:29,479 Speaker 1: it is, or maybe even lower it just a touch. 147 00:06:29,800 --> 00:06:33,200 Speaker 1: But if you want to have more insurance on your deposits, 148 00:06:33,440 --> 00:06:35,680 Speaker 1: pay for it yourself, start to self insure, and so 149 00:06:35,800 --> 00:06:40,760 Speaker 1: some of these smaller companies or wealthy individuals with larger deposits, 150 00:06:40,839 --> 00:06:42,240 Speaker 1: it's like cool, if you want to do all your 151 00:06:42,240 --> 00:06:44,919 Speaker 1: business with one bank, pay for that extra insurance, like 152 00:06:45,000 --> 00:06:46,880 Speaker 1: make that come out of your own time. Heck yeah, man, 153 00:06:46,920 --> 00:06:51,120 Speaker 1: privatize It makes sense to us, honestly, because our deposit 154 00:06:51,200 --> 00:06:53,360 Speaker 1: insurance here in the US it actually goes well beyond 155 00:06:53,400 --> 00:06:57,320 Speaker 1: what most other major countries are offering. And so maybe 156 00:06:57,320 --> 00:07:01,600 Speaker 1: even reducing that mandatory FDIC surance threshold und K where 157 00:07:01,640 --> 00:07:03,960 Speaker 1: it used to be. Yeah, So I don't know, maybe 158 00:07:04,000 --> 00:07:05,720 Speaker 1: it does make sense to have an insurance product out 159 00:07:05,760 --> 00:07:09,080 Speaker 1: there that allows individuals to pay that extra in order 160 00:07:09,080 --> 00:07:11,600 Speaker 1: to pile their funds up under one roof. But still, 161 00:07:11,840 --> 00:07:14,520 Speaker 1: this is what's going on for the time being. And 162 00:07:14,760 --> 00:07:16,760 Speaker 1: just so you know, we've we said this last week, 163 00:07:16,760 --> 00:07:18,720 Speaker 1: but just to reiterate it, money that is in your 164 00:07:18,720 --> 00:07:21,440 Speaker 1: savings account is safe. Just make sure that you are 165 00:07:21,520 --> 00:07:23,760 Speaker 1: keeping it under two hundred and fifty thousand dollars. But 166 00:07:23,800 --> 00:07:25,440 Speaker 1: there is no need to go running to some of 167 00:07:25,440 --> 00:07:29,280 Speaker 1: the bigger banks. If you are with an FDIC insured bank, 168 00:07:29,640 --> 00:07:31,920 Speaker 1: your money is safe. And also if you have more 169 00:07:32,000 --> 00:07:35,080 Speaker 1: than two hundred and fifty k sitting around you probably shouldn't. 170 00:07:35,480 --> 00:07:38,240 Speaker 1: That should likely be money that you should be investing 171 00:07:38,240 --> 00:07:40,600 Speaker 1: in the market as opposed to having it sit idle. 172 00:07:40,960 --> 00:07:42,640 Speaker 1: That's what your money goals are, right, It depends on 173 00:07:42,640 --> 00:07:44,960 Speaker 1: all your goals are buying a five million dollar mansion 174 00:07:45,320 --> 00:07:47,080 Speaker 1: in a couple of months, then then maybe you need 175 00:07:47,120 --> 00:07:49,160 Speaker 1: more cash on hand, and you've got to react accordingly. 176 00:07:49,240 --> 00:07:50,960 Speaker 1: But keeping it all on one account where you have 177 00:07:51,000 --> 00:07:53,720 Speaker 1: uninsured assets is not smart exactly. Yeah. And also I 178 00:07:53,760 --> 00:07:55,880 Speaker 1: can imagine there's too many folks saving up for that 179 00:07:55,880 --> 00:07:57,800 Speaker 1: five million dollars home. Well, I can't imagine pay good 180 00:07:57,800 --> 00:07:59,120 Speaker 1: for you. I can't imagine there's that many hand of 181 00:07:59,120 --> 00:08:02,600 Speaker 1: money listeners who are like, have the fortunate problem of 182 00:08:02,640 --> 00:08:05,280 Speaker 1: having eight hundred thousand dollars in liquid cash or something 183 00:08:05,280 --> 00:08:07,080 Speaker 1: like that. But I'm sure there are a few out 184 00:08:07,120 --> 00:08:09,080 Speaker 1: there who are trying to wrestle with those sorts of things. 185 00:08:09,200 --> 00:08:11,120 Speaker 1: But I think just a lot of concerns prop up 186 00:08:11,160 --> 00:08:14,200 Speaker 1: from people to wondering whether or not the bank they'rewith 187 00:08:14,240 --> 00:08:15,960 Speaker 1: this safe. And we just want to continually say the 188 00:08:16,000 --> 00:08:19,400 Speaker 1: same thing that yes, your bank if it's FDIC insured, 189 00:08:19,760 --> 00:08:21,400 Speaker 1: is a safe place to store your money. You don't 190 00:08:21,480 --> 00:08:23,320 Speaker 1: need to go to one of the big banks where 191 00:08:23,360 --> 00:08:26,360 Speaker 1: they're gonna likely charge you more fees, offer you worst 192 00:08:26,360 --> 00:08:30,240 Speaker 1: customer service, like not have nearly as great of interest rates. 193 00:08:30,360 --> 00:08:32,000 Speaker 1: So I just want to keep hammering that home. You 194 00:08:32,000 --> 00:08:33,560 Speaker 1: don't need to go to your local brick and mortar 195 00:08:33,559 --> 00:08:35,560 Speaker 1: and move all your funds over there. But let's talk 196 00:08:35,600 --> 00:08:37,880 Speaker 1: about banking fees for a second map because there's actually 197 00:08:37,880 --> 00:08:39,600 Speaker 1: some good news on that front, and it turns out 198 00:08:39,640 --> 00:08:42,920 Speaker 1: that banks are eliminating over draft fees in a big way, 199 00:08:43,240 --> 00:08:48,120 Speaker 1: saving consumers billions of dollars and how many billions, basically 200 00:08:48,160 --> 00:08:50,840 Speaker 1: about about five billions, and so over draft fees they 201 00:08:50,880 --> 00:08:53,200 Speaker 1: used to be a major source of revenue for the banks, 202 00:08:53,640 --> 00:08:56,040 Speaker 1: but they were also one of the worst, most irritating 203 00:08:56,120 --> 00:09:00,199 Speaker 1: kind of fees for individuals, for consumers, and so to 204 00:09:00,280 --> 00:09:02,640 Speaker 1: see more banks moving in this direction, I think a 205 00:09:02,640 --> 00:09:05,120 Speaker 1: lot of it's done to try to appease regulators on 206 00:09:05,160 --> 00:09:07,280 Speaker 1: the front end of things, But yeah, I think it's 207 00:09:07,280 --> 00:09:09,679 Speaker 1: important too to mention that we all need to make 208 00:09:09,679 --> 00:09:12,720 Speaker 1: sure we're doing business with the banks that are intent 209 00:09:13,160 --> 00:09:15,480 Speaker 1: on reducing fees we mentioned them every time it happens, 210 00:09:15,480 --> 00:09:17,640 Speaker 1: ally is one of those. Capital One has done a 211 00:09:17,679 --> 00:09:20,440 Speaker 1: great job at that. Check the bank's website long into 212 00:09:20,440 --> 00:09:23,040 Speaker 1: your accounts, see if you're being charged a monthly maintenance 213 00:09:23,080 --> 00:09:25,720 Speaker 1: fee or if you've been charged over draft fees recently, 214 00:09:25,720 --> 00:09:27,720 Speaker 1: and if so, it's time to switch. It's time to 215 00:09:27,720 --> 00:09:29,280 Speaker 1: get out of there. There are a lot of banks 216 00:09:29,280 --> 00:09:31,400 Speaker 1: now who are saying we're doing away with these fees, 217 00:09:31,520 --> 00:09:32,960 Speaker 1: and we just want to make sure you're with one 218 00:09:33,000 --> 00:09:34,920 Speaker 1: of them, that you're not sticking with one of the 219 00:09:34,920 --> 00:09:37,880 Speaker 1: ones that is stocking you with a thirty six dollars 220 00:09:37,920 --> 00:09:39,839 Speaker 1: over draft fee just when you buy a cup of 221 00:09:39,840 --> 00:09:41,719 Speaker 1: coffee that you didn't quite have enough money in the 222 00:09:41,760 --> 00:09:44,439 Speaker 1: account to cover. That's right. Yeah, So speaking of fees, 223 00:09:44,520 --> 00:09:47,880 Speaker 1: let's talk about Ticketmaster, because I don't know if it's 224 00:09:47,880 --> 00:09:51,199 Speaker 1: possible for Ticketmaster to get any worse, right, Like, I 225 00:09:51,240 --> 00:09:53,680 Speaker 1: don't think there's any other person or any other institution 226 00:09:53,840 --> 00:09:57,000 Speaker 1: that draws this much hate. And even though Ticketmaster they 227 00:09:57,040 --> 00:10:00,920 Speaker 1: actually did something that they maybe others would considered nicest week, 228 00:10:00,920 --> 00:10:04,000 Speaker 1: they still deserve a public shaming here on the podcast. 229 00:10:04,080 --> 00:10:07,600 Speaker 1: They deserve to be called out because yes, Taylor Swift fans, 230 00:10:07,600 --> 00:10:09,120 Speaker 1: they had a hard time on buying tickets to see 231 00:10:09,120 --> 00:10:13,200 Speaker 1: their their favorite performer. But the astronomical fees that Ticketmaster 232 00:10:13,280 --> 00:10:16,720 Speaker 1: continues to charge customers is what we can't get over. 233 00:10:17,000 --> 00:10:20,200 Speaker 1: And the latest example of this has been The Cure's 234 00:10:20,520 --> 00:10:23,800 Speaker 1: latest tour. They just started selling tickets for the new tour, 235 00:10:23,840 --> 00:10:26,120 Speaker 1: and of course, if you're a fan, you gotta go 236 00:10:26,200 --> 00:10:31,240 Speaker 1: through Ticketmaster, So some fans were apparently paying over ninety 237 00:10:31,320 --> 00:10:34,319 Speaker 1: dollars in fees on eighty dollars worth of tickets. That's 238 00:10:34,679 --> 00:10:36,679 Speaker 1: a total of over one hundred and seventy bucks for 239 00:10:37,040 --> 00:10:39,720 Speaker 1: just a handful of tickets. But what's crazy is just 240 00:10:39,800 --> 00:10:42,440 Speaker 1: that the fees are adding up to actually be more 241 00:10:42,520 --> 00:10:44,920 Speaker 1: than what the actual tickets we're going to cost. Initially, well, 242 00:10:44,920 --> 00:10:47,360 Speaker 1: you gotta pay the CEO, Matt and the upper echelon 243 00:10:47,480 --> 00:10:50,480 Speaker 1: of Ticketmaster, so the band doesn't even get, you know, 244 00:10:50,559 --> 00:10:54,360 Speaker 1: as much money as the Ticketmaster elites. But I really 245 00:10:54,360 --> 00:10:56,800 Speaker 1: do think Ticketmaster should be truly ashamed of kind of 246 00:10:56,800 --> 00:10:59,400 Speaker 1: the fee structure that they have in place, but they're not. 247 00:10:59,480 --> 00:11:01,560 Speaker 1: I don't think they care at all. And Robert Smith, 248 00:11:01,600 --> 00:11:03,600 Speaker 1: who's the lead singer of the Cure, he was pretty 249 00:11:03,600 --> 00:11:05,960 Speaker 1: sensitive to a lot of the fan complaints, and he 250 00:11:06,040 --> 00:11:08,760 Speaker 1: said something to Ticketmaster on their behalf, which is always 251 00:11:08,760 --> 00:11:11,000 Speaker 1: amazing to me. The artists more artists aren't sticking up 252 00:11:11,000 --> 00:11:12,959 Speaker 1: for their fans because their fans are the ones who 253 00:11:12,960 --> 00:11:15,720 Speaker 1: are being taken advantage of. And I will say, one 254 00:11:16,040 --> 00:11:19,400 Speaker 1: little small check mark in Ticketmaster's corner. For the first 255 00:11:19,440 --> 00:11:21,640 Speaker 1: time ever, they actually did and I was surprised to 256 00:11:21,640 --> 00:11:24,880 Speaker 1: see this. They admitted that their fees were a bit much. Yeah, 257 00:11:25,040 --> 00:11:27,400 Speaker 1: this could potentially be a turning point. This is the 258 00:11:27,880 --> 00:11:30,240 Speaker 1: one tidbit of good news. Unlikely that it's a turning point, 259 00:11:30,280 --> 00:11:31,680 Speaker 1: but at least it was something. It was a drop 260 00:11:31,720 --> 00:11:33,560 Speaker 1: in the bucket. But here's exactly what they said. They said, 261 00:11:33,760 --> 00:11:36,280 Speaker 1: many of the fees being charged are unduly high. I 262 00:11:36,360 --> 00:11:39,120 Speaker 1: quote that, and so they were funded well how much money, 263 00:11:39,559 --> 00:11:42,040 Speaker 1: five to ten dollars depending on the ticket price. So 264 00:11:42,040 --> 00:11:44,360 Speaker 1: we're still talking about ticket prices being double what they 265 00:11:44,400 --> 00:11:47,640 Speaker 1: otherwise would would be. And you know, basically Ticketmaster has 266 00:11:47,679 --> 00:11:49,920 Speaker 1: a monopoly selling something like eighty percent of the concert 267 00:11:49,960 --> 00:11:53,000 Speaker 1: tickets in the country. And I think artists really need 268 00:11:53,040 --> 00:11:54,800 Speaker 1: to push back even more. They need to have their 269 00:11:54,880 --> 00:11:58,440 Speaker 1: voices heard because again, it's their fans who are being 270 00:11:58,520 --> 00:12:02,160 Speaker 1: taken advantage of. Congress I think needs to do something too. 271 00:12:02,280 --> 00:12:04,600 Speaker 1: The fact that Ticketmaster continues to be allowed to host 272 00:12:04,600 --> 00:12:07,679 Speaker 1: consumers in the way they do. It's uncomfortable. I hate 273 00:12:07,679 --> 00:12:09,959 Speaker 1: seeing fees like this charge to everyday folks who just 274 00:12:10,000 --> 00:12:13,160 Speaker 1: want to go see their favorite Pans or whoever. Yeah, honestly, 275 00:12:13,200 --> 00:12:16,360 Speaker 1: I just don't understand how Ticketmaster and Live Nation were 276 00:12:16,400 --> 00:12:18,400 Speaker 1: able to join forces. So it was back in the 277 00:12:18,720 --> 00:12:20,880 Speaker 1: back in two thousand and nine. They're allowed to merge, 278 00:12:21,120 --> 00:12:23,640 Speaker 1: and that's what essentially gave them like a stranglehold over 279 00:12:23,679 --> 00:12:26,560 Speaker 1: the entire industry. But when you're so dominant, when you're 280 00:12:26,600 --> 00:12:29,360 Speaker 1: such a juggernaut, there is no ability for competition to 281 00:12:29,400 --> 00:12:33,080 Speaker 1: come in and actually compete and to offer a competitive product, 282 00:12:33,120 --> 00:12:36,880 Speaker 1: something that can stand up to Ticketmaster a little bit. 283 00:12:36,920 --> 00:12:39,760 Speaker 1: But this is why competition matters. And actually, if you 284 00:12:39,760 --> 00:12:43,720 Speaker 1: want another example, take wet dog food and this might 285 00:12:43,760 --> 00:12:45,200 Speaker 1: be a weird example of a just stick with us. 286 00:12:45,600 --> 00:12:48,200 Speaker 1: James Kerr he wrote about this over at the Humble 287 00:12:48,240 --> 00:12:51,200 Speaker 1: Dollar this week, and he found that wet dog food 288 00:12:51,200 --> 00:12:54,160 Speaker 1: has jumped in price, while dry dog food it's barely 289 00:12:54,160 --> 00:12:56,640 Speaker 1: budged and so he wrote a letter to the manufacturer 290 00:12:57,040 --> 00:12:59,920 Speaker 1: and he no surprise, he got a short note back 291 00:13:00,040 --> 00:13:03,240 Speaker 1: that said basically nothing. But what he found was that 292 00:13:03,280 --> 00:13:06,080 Speaker 1: even though there were ten brands of wet dog food 293 00:13:06,080 --> 00:13:08,280 Speaker 1: out there, they all come from the same two or 294 00:13:08,320 --> 00:13:12,520 Speaker 1: three suppliers. Uh. And so again just a limit, a 295 00:13:12,559 --> 00:13:15,319 Speaker 1: smaller amount of competition. So it also makes me think, 296 00:13:15,360 --> 00:13:18,160 Speaker 1: was it Jet Blue and Spirit we're looking to join 297 00:13:18,240 --> 00:13:20,880 Speaker 1: forces again and they got shut down? So and there 298 00:13:20,920 --> 00:13:23,600 Speaker 1: are a lot of different airlines, more airlines than there 299 00:13:23,640 --> 00:13:27,640 Speaker 1: are ticket issuers absolutely or what dog food? Yeah, yeah, 300 00:13:27,640 --> 00:13:29,600 Speaker 1: so there's not It's not as bad as the concert 301 00:13:29,640 --> 00:13:33,120 Speaker 1: ticket industry because nothing, I would even say, not even 302 00:13:33,200 --> 00:13:36,400 Speaker 1: home internet is as bad as like Ticketmaster, because at 303 00:13:36,440 --> 00:13:38,680 Speaker 1: least up there, Yeah, but at least you've got two 304 00:13:38,840 --> 00:13:41,199 Speaker 1: you've got two guys that you are bouncing back and forth. 305 00:13:41,400 --> 00:13:43,320 Speaker 1: A lot of people would call that a duopoly. They 306 00:13:43,360 --> 00:13:45,920 Speaker 1: set prices kind of against each other, not in a 307 00:13:45,920 --> 00:13:48,200 Speaker 1: competitive way, but almost in like a collaborative way, which 308 00:13:48,200 --> 00:13:50,080 Speaker 1: is pretty pretty nasty. But it's not still not as 309 00:13:50,120 --> 00:13:53,320 Speaker 1: bad as a monopoly, which Ticketmaster clearly is. Yeah, and 310 00:13:53,720 --> 00:13:55,920 Speaker 1: I would yeah, And you said even said something about 311 00:13:55,920 --> 00:13:58,360 Speaker 1: Congress doing something too, And I might even push back 312 00:13:58,360 --> 00:14:00,280 Speaker 1: a little bit on that because I'm not sure or 313 00:14:00,280 --> 00:14:02,679 Speaker 1: when any regular like anytime I feel like the government 314 00:14:02,720 --> 00:14:05,440 Speaker 1: gets involved, it tends to lead to ultimately, like in 315 00:14:05,480 --> 00:14:08,640 Speaker 1: the long run, perhaps an inferior product. But I am 316 00:14:08,640 --> 00:14:11,080 Speaker 1: surprised that they were again back into nine, that they're 317 00:14:11,080 --> 00:14:14,560 Speaker 1: able to join forces. Man, it's just well, I disagree 318 00:14:14,640 --> 00:14:17,319 Speaker 1: because there's so it's so terrible that they are allowed 319 00:14:17,320 --> 00:14:18,920 Speaker 1: to do this, and they charge such high fees, and 320 00:14:18,960 --> 00:14:21,040 Speaker 1: it's not like they're providing a great product either, So 321 00:14:21,120 --> 00:14:24,440 Speaker 1: the product suffers, the consumer suffers, and like something needs 322 00:14:24,440 --> 00:14:26,680 Speaker 1: to be done. Really would feel differently if like the 323 00:14:26,720 --> 00:14:29,880 Speaker 1: airlines they get because it's more of a public utility, 324 00:14:30,040 --> 00:14:34,200 Speaker 1: but like this is entertainment, and do folks need to 325 00:14:34,240 --> 00:14:36,600 Speaker 1: go see the cure? Kate would enjoy that, you know, 326 00:14:36,880 --> 00:14:39,480 Speaker 1: choose a fan back in the day. But for that reason, 327 00:14:39,560 --> 00:14:41,880 Speaker 1: it's something that I think folks can choose to opt 328 00:14:41,880 --> 00:14:44,480 Speaker 1: out of and their life won't be dramatically impacted, you 329 00:14:44,480 --> 00:14:45,640 Speaker 1: know what I'm saying. But I feel like this puts 330 00:14:45,640 --> 00:14:47,560 Speaker 1: a bad taste in people's mouths in terms of like 331 00:14:47,600 --> 00:14:50,120 Speaker 1: how capitalism works when monopolies and duopolies are allowed to 332 00:14:50,160 --> 00:14:52,640 Speaker 1: run them. Uck. It makes people think that capitalism. Yeah, 333 00:14:52,640 --> 00:14:54,280 Speaker 1: you know, and I get that, and I don't think 334 00:14:54,280 --> 00:14:56,880 Speaker 1: that's the problem. I think the problem is the monopoly 335 00:14:56,920 --> 00:14:59,120 Speaker 1: or duopolies situation. We also have a choice to because 336 00:14:59,160 --> 00:15:01,480 Speaker 1: if you say you are like, okay, I must go 337 00:15:01,560 --> 00:15:05,480 Speaker 1: to that show, maybe it is life giving to me. 338 00:15:06,040 --> 00:15:07,400 Speaker 1: But you can still go to the show, but just 339 00:15:07,400 --> 00:15:09,000 Speaker 1: go straight to the box office and then you get 340 00:15:09,000 --> 00:15:12,080 Speaker 1: to skip those those fees altogether. Well, sometimes sometimes it 341 00:15:12,120 --> 00:15:14,280 Speaker 1: depends on it depends on the place it's selling it, 342 00:15:14,320 --> 00:15:15,960 Speaker 1: and sometimes there are fees when you buy it in 343 00:15:16,000 --> 00:15:18,080 Speaker 1: person too. I've been able to skip fees many times 344 00:15:18,120 --> 00:15:20,080 Speaker 1: going that route. But then again, when you look at 345 00:15:20,080 --> 00:15:22,640 Speaker 1: something like the Taylor, Swift or Beyonce concerts, like the 346 00:15:22,720 --> 00:15:24,440 Speaker 1: tickets we're gone, and those tickets we're gone, blink of 347 00:15:24,440 --> 00:15:26,200 Speaker 1: an eye. Yeah, basic, So you don't have that option. 348 00:15:26,240 --> 00:15:28,960 Speaker 1: So yeah, something something should be done about Ticketmaster. I 349 00:15:29,000 --> 00:15:30,840 Speaker 1: don't know what, but at least we're gonna rake them 350 00:15:30,840 --> 00:15:32,960 Speaker 1: over the coals here on the show. But Matt, let's 351 00:15:33,360 --> 00:15:35,600 Speaker 1: we got more to get to in on today's Friday flight. 352 00:15:35,600 --> 00:15:36,960 Speaker 1: We want to talk about kind of what's happening with 353 00:15:37,000 --> 00:15:39,640 Speaker 1: the passport situation and give kind of a word of 354 00:15:39,680 --> 00:15:41,960 Speaker 1: advice for anybody who's looking to travel soon. I'll talk 355 00:15:42,000 --> 00:15:53,840 Speaker 1: about that and more right after this. We are back 356 00:15:53,880 --> 00:15:55,920 Speaker 1: from the break and we're going to continue our Friday 357 00:15:55,920 --> 00:15:59,240 Speaker 1: flight here with the ludicrous headline of the week, and 358 00:15:59,560 --> 00:16:03,520 Speaker 1: this one comes from Bloomberg. The headline reads, bottled water 359 00:16:03,560 --> 00:16:06,480 Speaker 1: sales exceed the cost of providing safe water for all 360 00:16:06,840 --> 00:16:10,040 Speaker 1: un says, so, yeah, it turns out that we spend 361 00:16:10,040 --> 00:16:12,840 Speaker 1: way too much on bottled water in this country, and 362 00:16:12,960 --> 00:16:15,800 Speaker 1: it raises the question, Joel, you know, given just the 363 00:16:15,840 --> 00:16:19,120 Speaker 1: reality of safe, cleaning tap water at our disposal, it 364 00:16:19,400 --> 00:16:22,520 Speaker 1: is amazing that so many folks are opting for bottled 365 00:16:22,560 --> 00:16:26,520 Speaker 1: water that costs way more. Part of what this new 366 00:16:26,520 --> 00:16:28,920 Speaker 1: paper found was that and this is i'll quote this 367 00:16:28,920 --> 00:16:32,200 Speaker 1: company selling water also use marketing to undermine faith in 368 00:16:32,240 --> 00:16:35,560 Speaker 1: public systems, which essentially what that means is like we 369 00:16:35,600 --> 00:16:39,200 Speaker 1: are buying into the marketing hype that bottled water is 370 00:16:39,360 --> 00:16:41,960 Speaker 1: better for us when it's just not. Yeah, and well, 371 00:16:42,000 --> 00:16:44,320 Speaker 1: I feel like all sorts of newfangled bottled waters have 372 00:16:44,400 --> 00:16:46,800 Speaker 1: come on the market recently too, where it's like bottled 373 00:16:46,840 --> 00:16:49,760 Speaker 1: water with electrolytes or different pH levels or something like that. 374 00:16:49,800 --> 00:16:53,520 Speaker 1: And so with salt, Yeah, it's it seems and I'm 375 00:16:53,560 --> 00:16:55,360 Speaker 1: not saying that there's zero merit to any of those 376 00:16:55,400 --> 00:16:57,760 Speaker 1: different kinds of bottle water. I'm sure there is something, 377 00:16:58,040 --> 00:17:00,520 Speaker 1: But how much money we're spending to get these fancified 378 00:17:00,640 --> 00:17:03,480 Speaker 1: versions of bottled water. Or there's even like Liquid Death, 379 00:17:03,800 --> 00:17:06,480 Speaker 1: which is canned water, which has like seven hundred billion 380 00:17:06,520 --> 00:17:07,879 Speaker 1: dollars in sales or something. It's like one of the 381 00:17:07,920 --> 00:17:10,480 Speaker 1: fastest growing companies and it's literally just a cool can 382 00:17:11,040 --> 00:17:13,920 Speaker 1: that contains water. Liquid Death. We are so buying into 383 00:17:13,920 --> 00:17:16,440 Speaker 1: the marketing on this front, and it's pretty disturbing. Yeah, 384 00:17:16,480 --> 00:17:19,119 Speaker 1: I will say so, like they're they were trying to 385 00:17:19,160 --> 00:17:23,000 Speaker 1: equate the fact that certain companies, certain industries, in particular 386 00:17:23,040 --> 00:17:25,600 Speaker 1: the bottomed water industry, that because it's doing well, that 387 00:17:25,600 --> 00:17:28,720 Speaker 1: that means other countries out there aren't able to provide safe, 388 00:17:29,080 --> 00:17:32,240 Speaker 1: publicly accessible drinking water. And I'd take a little umbridge 389 00:17:32,240 --> 00:17:35,080 Speaker 1: with that part of it, because it's not like the 390 00:17:35,119 --> 00:17:38,560 Speaker 1: success of those industries is holding down the ability for 391 00:17:38,600 --> 00:17:41,840 Speaker 1: some countries to thrive. Right, Like say they were spending 392 00:17:41,880 --> 00:17:44,119 Speaker 1: more on bottle water. It's just a kind of absurd. 393 00:17:44,200 --> 00:17:46,480 Speaker 1: It's a comparison, yeah, essentially, but I didn't I guess 394 00:17:46,480 --> 00:17:48,199 Speaker 1: I didn't like how they're kind of comparing, Like it 395 00:17:48,240 --> 00:17:50,840 Speaker 1: made me think of like you can apply that to anything, Like, Hey, 396 00:17:50,920 --> 00:17:53,040 Speaker 1: the reason there aren't mosquito nets on the other side 397 00:17:53,040 --> 00:17:55,760 Speaker 1: of the world because you're watching Netflix. It's like, well, like, 398 00:17:55,840 --> 00:17:57,840 Speaker 1: if we all stop watching Netflix and sent that towards 399 00:17:57,920 --> 00:18:01,680 Speaker 1: mosquito nets, there's probably doesn't necessarily equate to the other. 400 00:18:01,720 --> 00:18:03,480 Speaker 1: And I think we should all have to have the 401 00:18:03,520 --> 00:18:06,720 Speaker 1: freedom to certainly donate money in ways that we see fit. 402 00:18:06,960 --> 00:18:08,679 Speaker 1: But I do agree that we are spending way too 403 00:18:08,760 --> 00:18:12,120 Speaker 1: much dinking money on bottled water here. We would recommend 404 00:18:12,160 --> 00:18:14,040 Speaker 1: for folks to go out there get yourself a solid 405 00:18:14,040 --> 00:18:16,720 Speaker 1: filtration system for your house, or just like a Britta 406 00:18:17,600 --> 00:18:20,080 Speaker 1: Britta filtration pitcher, which is what we got in our 407 00:18:20,080 --> 00:18:22,160 Speaker 1: little fridge. You literally just drink the straight up tap water. 408 00:18:22,200 --> 00:18:24,480 Speaker 1: Homies like that, there's nothing wrong with it. Well, yeah, 409 00:18:24,520 --> 00:18:27,280 Speaker 1: it tastes better when you filter it in, maybe, but barely. 410 00:18:27,400 --> 00:18:29,600 Speaker 1: But the tap water we gas mostly fine. Come on, 411 00:18:29,760 --> 00:18:31,679 Speaker 1: it's mostly fine. Yeah, I mean, there's nothing wrong with it. 412 00:18:31,680 --> 00:18:34,879 Speaker 1: It's just the flavors that you get sometimes from the chlorination. 413 00:18:34,960 --> 00:18:36,439 Speaker 1: I'm not a huge fan of when I'm making my 414 00:18:36,480 --> 00:18:38,560 Speaker 1: fancy coffee, which I'm going to be making more of 415 00:18:38,560 --> 00:18:42,280 Speaker 1: after I get a maybe I get a nicer grinder, perhaps, 416 00:18:42,280 --> 00:18:44,160 Speaker 1: but I as I was thinking about it, I think 417 00:18:44,160 --> 00:18:47,080 Speaker 1: one of the reasons though, that we that Americans in 418 00:18:47,080 --> 00:18:50,520 Speaker 1: general are folks all around the world go with bottled 419 00:18:50,520 --> 00:18:52,439 Speaker 1: water is because it's just the convenience, right, Like, if 420 00:18:52,440 --> 00:18:54,280 Speaker 1: you've got a bottled water, that means it's in the fridge. 421 00:18:54,320 --> 00:18:56,639 Speaker 1: You can just go up to the fridge, grab it 422 00:18:56,720 --> 00:18:59,080 Speaker 1: and walk away, and you've got a nice thing of 423 00:18:59,080 --> 00:19:02,719 Speaker 1: water there. But yeah, buying a reusable bottle and actually 424 00:19:02,720 --> 00:19:04,840 Speaker 1: going through the process of filling it up, it only 425 00:19:04,840 --> 00:19:06,800 Speaker 1: takes a second, but it'll save you a lot of money. 426 00:19:06,840 --> 00:19:09,360 Speaker 1: We're wasting money, we're wasting plastic, and we're not really 427 00:19:09,359 --> 00:19:11,679 Speaker 1: getting much in return. So totally all right, let's talk 428 00:19:11,680 --> 00:19:14,760 Speaker 1: about passports, Matt, because passport wait times are not great 429 00:19:14,840 --> 00:19:19,080 Speaker 1: right now, that is maybe maybe an understatement, but the 430 00:19:19,119 --> 00:19:22,200 Speaker 1: state Department is basically overwhelmed with the amount of passport 431 00:19:22,200 --> 00:19:24,960 Speaker 1: requests that are coming in the front door, including both 432 00:19:25,080 --> 00:19:28,840 Speaker 1: yours and mine. Although you paid the extra expedited fee 433 00:19:29,200 --> 00:19:31,920 Speaker 1: wisely because that looming over your head. Yeah, well you 434 00:19:31,920 --> 00:19:34,119 Speaker 1: you'd got you were able to renew yours online and 435 00:19:34,160 --> 00:19:36,520 Speaker 1: I had to go in person because mine had expired 436 00:19:36,640 --> 00:19:38,879 Speaker 1: so long ago. Because heads up, when you have four kids, 437 00:19:38,880 --> 00:19:41,960 Speaker 1: you don't do much international travel. Yeah, well so mine 438 00:19:42,080 --> 00:19:45,080 Speaker 1: now still says two months later after having submitted it online, 439 00:19:45,080 --> 00:19:46,760 Speaker 1: which I thought is crazy. I thought it was going 440 00:19:46,800 --> 00:19:50,160 Speaker 1: to be a superior process. It still only says received, 441 00:19:50,480 --> 00:19:52,120 Speaker 1: so it doesn't even say that it's in process, which 442 00:19:52,160 --> 00:19:53,960 Speaker 1: is super frustrating. I bet you'll get yours, like in 443 00:19:54,040 --> 00:19:55,720 Speaker 1: a few days, I hope. So, yeah, I'm going to 444 00:19:55,880 --> 00:19:58,040 Speaker 1: buy next Tuesday. I bet it's in your in your inbox, 445 00:19:58,119 --> 00:20:00,880 Speaker 1: let's or what do you call it, mailbox, your actual mailbox, 446 00:20:01,280 --> 00:20:04,160 Speaker 1: pray hand emoji's okay going after that one. But yeah, 447 00:20:04,280 --> 00:20:06,600 Speaker 1: there's something they're trying to process, something like five hundred 448 00:20:06,640 --> 00:20:09,760 Speaker 1: thousand passports a week, which is like laying thing. So 449 00:20:09,800 --> 00:20:11,920 Speaker 1: I'm one of a lot of people getting lost in 450 00:20:12,000 --> 00:20:14,080 Speaker 1: the shuffle. And so just word of the wise, if 451 00:20:14,080 --> 00:20:16,840 Speaker 1: you're planning on taking an international trip this year and 452 00:20:16,880 --> 00:20:20,120 Speaker 1: your passport is expired or expiring, get on the ball, 453 00:20:20,240 --> 00:20:23,280 Speaker 1: get the renewal process started now, and like I said, 454 00:20:23,320 --> 00:20:26,720 Speaker 1: you can submit the renewal request online, which is a 455 00:20:26,760 --> 00:20:30,479 Speaker 1: cool time saving feature, but allow yourself extra weeks beyond 456 00:20:30,520 --> 00:20:32,640 Speaker 1: even what the state department is saying it's going to take, 457 00:20:32,680 --> 00:20:35,000 Speaker 1: which I did, and I'm still fingers crossed hoping I'm 458 00:20:35,000 --> 00:20:37,040 Speaker 1: gonna get it in time. We will see, but don't 459 00:20:37,240 --> 00:20:39,640 Speaker 1: don't delay, because it really could mess up your trip 460 00:20:39,640 --> 00:20:41,520 Speaker 1: in a big way, costing you costing you even more 461 00:20:41,720 --> 00:20:43,960 Speaker 1: or maybe even just days off your life as you 462 00:20:43,960 --> 00:20:45,640 Speaker 1: sit there and stress about it. That's why I paid 463 00:20:45,680 --> 00:20:47,600 Speaker 1: to get it expedited. I thought that it would be 464 00:20:47,600 --> 00:20:50,000 Speaker 1: able to show up on time, I think, but again 465 00:20:50,040 --> 00:20:51,760 Speaker 1: because I had to go in person and waiting the 466 00:20:51,800 --> 00:20:54,160 Speaker 1: long stinking line, I was like, all right, I'm let's 467 00:20:54,160 --> 00:20:56,239 Speaker 1: just go ahead and expedite it, which you know I'm 468 00:20:56,240 --> 00:20:58,719 Speaker 1: wishing I had. Yeah, but yeah, just to have it, 469 00:20:58,880 --> 00:21:03,240 Speaker 1: I'll say, the new pass cheap. Not no, I think 470 00:21:03,240 --> 00:21:05,440 Speaker 1: it'll show up very sing Joel. But it is also 471 00:21:05,520 --> 00:21:09,120 Speaker 1: important to note that the expiration date on your passport, 472 00:21:09,119 --> 00:21:13,240 Speaker 1: it's not necessarily the actual expiration date. And so what 473 00:21:13,280 --> 00:21:15,320 Speaker 1: I mean by that is that most countries they don't 474 00:21:15,320 --> 00:21:18,720 Speaker 1: want your passport to expire while you're there visiting. They 475 00:21:18,760 --> 00:21:20,320 Speaker 1: want you to be able to get out of there 476 00:21:20,320 --> 00:21:22,679 Speaker 1: and go home. So a lot of countries in Europe 477 00:21:22,720 --> 00:21:26,320 Speaker 1: require that your passport be valid for at least three months, 478 00:21:26,960 --> 00:21:30,560 Speaker 1: like France, Germany, Italy, like the big popular countries that 479 00:21:30,600 --> 00:21:32,880 Speaker 1: folks want to visit from the date of departure from 480 00:21:32,880 --> 00:21:36,320 Speaker 1: the data exactly exactly, although there's probably less folks wanting 481 00:21:36,359 --> 00:21:38,880 Speaker 1: to visit France these days. We'll get to that story 482 00:21:38,920 --> 00:21:40,640 Speaker 1: here in a second. You might think, oh, my passport, 483 00:21:40,680 --> 00:21:42,399 Speaker 1: it's just fine, I've got plenty of time left on it. 484 00:21:42,440 --> 00:21:45,360 Speaker 1: But the visiting country you're going to says, oh contrere no, 485 00:21:45,359 --> 00:21:47,560 Speaker 1: no, no no, no, we don't You're not allowed in unless 486 00:21:47,560 --> 00:21:50,760 Speaker 1: you've got at least three months left to go. Yeah, 487 00:21:50,800 --> 00:21:53,320 Speaker 1: And honestly, there's a bunch of other countries that push 488 00:21:53,359 --> 00:21:55,919 Speaker 1: that requirement out even further to six months, like the 489 00:21:56,000 --> 00:22:00,240 Speaker 1: Cayman Islands, Malaysiani account is matt right the exactly, the 490 00:22:00,400 --> 00:22:02,920 Speaker 1: United Arab Emirates they follow in this category as well. 491 00:22:02,960 --> 00:22:05,080 Speaker 1: So it's not there's a lot of countries out there 492 00:22:05,119 --> 00:22:08,360 Speaker 1: that want you to show and to prove that hey, 493 00:22:08,400 --> 00:22:10,800 Speaker 1: by the time you leave here your scheduled departure date. 494 00:22:10,840 --> 00:22:14,119 Speaker 1: Your passport needs to be a good half year from expiring. 495 00:22:14,160 --> 00:22:16,800 Speaker 1: That way, you don't run into any any sort of complications, 496 00:22:16,800 --> 00:22:19,320 Speaker 1: any sort of difficulties. Yeah, so even if your passport 497 00:22:19,440 --> 00:22:22,359 Speaker 1: is not technically expired, it might be treated like it is. 498 00:22:22,400 --> 00:22:24,360 Speaker 1: And so if you are in that position, we would 499 00:22:24,400 --> 00:22:27,480 Speaker 1: recommend that you go ahead and get it renewed as well. Yep, totally. 500 00:22:27,520 --> 00:22:30,000 Speaker 1: All right. So let's talk about retirement for a second 501 00:22:30,000 --> 00:22:33,000 Speaker 1: and why you may not want to go and visit Paris. Yeah, well, 502 00:22:33,160 --> 00:22:35,080 Speaker 1: there are multiple reasons maybe not to go visit Paris 503 00:22:35,119 --> 00:22:37,000 Speaker 1: right now, Matt. As we're talking about retirement, let's talk 504 00:22:37,000 --> 00:22:40,280 Speaker 1: about Macrone and what's going on kind of in Paris 505 00:22:40,400 --> 00:22:42,879 Speaker 1: right now in France in general. And my sister, my 506 00:22:42,920 --> 00:22:45,399 Speaker 1: mom and dad, they were just over there visiting and 507 00:22:45,440 --> 00:22:47,440 Speaker 1: they were talking to me about how the metro was 508 00:22:47,480 --> 00:22:49,480 Speaker 1: shut down and there was kind of some different stuff 509 00:22:49,480 --> 00:22:51,560 Speaker 1: going on there, flaming bags of trash in the streets. 510 00:22:51,560 --> 00:22:54,239 Speaker 1: Not yet, they left right before the flaming bags of trash. Yes, 511 00:22:54,320 --> 00:22:56,720 Speaker 1: so they got out just in the nick of time. 512 00:22:57,000 --> 00:23:00,400 Speaker 1: But why are things going haywire over in France? Well, 513 00:23:00,520 --> 00:23:03,120 Speaker 1: it's because the president is trying to raise the retirement 514 00:23:03,160 --> 00:23:05,560 Speaker 1: aids there from sixty two to sixty four and the 515 00:23:05,600 --> 00:23:07,639 Speaker 1: French people they're just not happy about it. And so 516 00:23:07,680 --> 00:23:09,920 Speaker 1: in fact, there are strikes across the country, fires in 517 00:23:09,960 --> 00:23:13,800 Speaker 1: the streets, and unfunded liabilities are a problem that a 518 00:23:13,880 --> 00:23:16,719 Speaker 1: lot of countries around the world are having to reckon with. 519 00:23:16,800 --> 00:23:19,800 Speaker 1: Right as the average age of the population gets older. 520 00:23:20,160 --> 00:23:22,400 Speaker 1: There are countries that are worse off than France, right, 521 00:23:22,480 --> 00:23:25,199 Speaker 1: like Japan, for instance. And someone has to be the 522 00:23:25,200 --> 00:23:28,440 Speaker 1: adult in the room. And President Macron is attempting to, 523 00:23:28,920 --> 00:23:31,000 Speaker 1: like my pronunciation there, you're doing yeah, all right, you've 524 00:23:31,200 --> 00:23:34,440 Speaker 1: improved greatly, thank you from the beginning of this episode. 525 00:23:34,480 --> 00:23:37,080 Speaker 1: So he's really attempting to be the adult here, and 526 00:23:37,160 --> 00:23:39,679 Speaker 1: it might be to the detriment of his political career 527 00:23:39,720 --> 00:23:41,760 Speaker 1: even and he finally kind of broke his silence this 528 00:23:41,800 --> 00:23:44,040 Speaker 1: week and he said, do you think I enjoy doing 529 00:23:44,080 --> 00:23:46,359 Speaker 1: this reform? No, the longer we wait, the worst the 530 00:23:46,400 --> 00:23:49,280 Speaker 1: situation will get. And so my question is when are 531 00:23:49,320 --> 00:23:51,400 Speaker 1: politicians in our country going to do the same thing, 532 00:23:51,400 --> 00:23:53,199 Speaker 1: When are they going to say, you know what matters 533 00:23:53,280 --> 00:23:55,760 Speaker 1: the most is getting this right, not my own actually 534 00:23:55,760 --> 00:23:58,480 Speaker 1: addressing the problem. Yeah, not my own political career and 535 00:23:58,680 --> 00:24:02,520 Speaker 1: me getting reelected again. Yeah. Yeah, Now he's showing some 536 00:24:02,760 --> 00:24:05,040 Speaker 1: I actually appreciate what he's doing. He's showing some initiative, 537 00:24:05,040 --> 00:24:08,359 Speaker 1: and he's actually being a leader, as opposed to politicians 538 00:24:08,359 --> 00:24:11,400 Speaker 1: in our country who typically just continue to politic, yeah, 539 00:24:11,600 --> 00:24:14,240 Speaker 1: instead of lead. And so on that note, on the 540 00:24:14,280 --> 00:24:17,600 Speaker 1: note of our country, let's talk about social security, because 541 00:24:17,680 --> 00:24:19,880 Speaker 1: it feels like it's a long way off to most 542 00:24:19,880 --> 00:24:22,680 Speaker 1: how to money listeners, but it is always worth mentioning, right, 543 00:24:22,680 --> 00:24:25,960 Speaker 1: it's worth putting into your head now that taking social 544 00:24:25,960 --> 00:24:29,639 Speaker 1: Security early is a bad idea. If you were to 545 00:24:29,760 --> 00:24:31,720 Speaker 1: draw on it as soon as you are eligible, it 546 00:24:31,760 --> 00:24:34,760 Speaker 1: could easily cost you tens of thousands, but it could 547 00:24:34,760 --> 00:24:37,400 Speaker 1: even get up into the hundreds of thousands of dollars. So. 548 00:24:37,520 --> 00:24:40,520 Speaker 1: A recent study found that roughly ninety percent of individuals 549 00:24:40,520 --> 00:24:43,879 Speaker 1: would benefit financially by waiting until age seventy to collect 550 00:24:43,960 --> 00:24:47,639 Speaker 1: their checks their Social Security, but less than ten percent 551 00:24:47,720 --> 00:24:52,280 Speaker 1: of retirees actually wait that long. So yeah, just something 552 00:24:52,320 --> 00:24:54,879 Speaker 1: to keep in mind, especially if you are getting closer 553 00:24:54,920 --> 00:24:57,480 Speaker 1: to retirement age, or you've got parents who are and 554 00:24:57,520 --> 00:25:00,440 Speaker 1: they're healthy. There are plenty of good out there that 555 00:25:00,480 --> 00:25:03,359 Speaker 1: you're going to live well into your nineties, so you know, 556 00:25:03,400 --> 00:25:06,000 Speaker 1: getting that bigger check every single month for decades is 557 00:25:06,040 --> 00:25:08,120 Speaker 1: going to be a huge win. And you know, back 558 00:25:08,160 --> 00:25:10,960 Speaker 1: in episode thirteen, we we actually talked about whether or 559 00:25:11,000 --> 00:25:13,840 Speaker 1: not we can count on social Security being there by 560 00:25:13,840 --> 00:25:18,080 Speaker 1: the time we you know, achieve allennials, in particularly allennials 561 00:25:18,080 --> 00:25:20,840 Speaker 1: gen Z, reach retirement age, and you know, we think 562 00:25:20,880 --> 00:25:22,440 Speaker 1: that it will still be there. We don't think it's 563 00:25:22,440 --> 00:25:25,720 Speaker 1: going to be completely gone. But like France is dealing 564 00:25:25,800 --> 00:25:28,520 Speaker 1: with right now, at what age will we be eligible 565 00:25:28,560 --> 00:25:31,800 Speaker 1: to start drawing on Social Security and how much will 566 00:25:31,840 --> 00:25:34,720 Speaker 1: be available to us? That is certainly up in the air. 567 00:25:35,080 --> 00:25:37,000 Speaker 1: So much depends on how long it's going to take 568 00:25:37,000 --> 00:25:39,000 Speaker 1: for the politicians to address kind of the elephant of 569 00:25:39,000 --> 00:25:41,359 Speaker 1: the room, Yeah, the actual problem and start making changes. 570 00:25:41,359 --> 00:25:44,080 Speaker 1: And the longer we wait, the more drastic the measures 571 00:25:44,119 --> 00:25:45,880 Speaker 1: are gonna have to be. Exactly And I think this 572 00:25:45,920 --> 00:25:48,639 Speaker 1: is another reason too that we advocate for you to 573 00:25:48,840 --> 00:25:52,160 Speaker 1: start investing, saving and investing for your own retirement. Take 574 00:25:52,200 --> 00:25:54,959 Speaker 1: the responsibility. Do you want to count on the government 575 00:25:54,960 --> 00:25:57,600 Speaker 1: to figure this out by the time you reach retirement age, 576 00:25:57,680 --> 00:25:59,199 Speaker 1: or do you want to take the reins in your 577 00:25:59,200 --> 00:26:02,120 Speaker 1: own hands and steer that bad boy where you want 578 00:26:02,119 --> 00:26:04,160 Speaker 1: it to see again, I think we basically said that 579 00:26:04,320 --> 00:26:07,520 Speaker 1: most people should be able to assume that something like 580 00:26:07,560 --> 00:26:09,880 Speaker 1: seventy five percent of the current payment payout of Social 581 00:26:09,880 --> 00:26:12,879 Speaker 1: Security that even millennials and Gen z will be eligible for. 582 00:26:13,040 --> 00:26:14,680 Speaker 1: But you definitely want to start planning for your own 583 00:26:14,720 --> 00:26:17,760 Speaker 1: retirement because even that wouldn't be enough. But hopefully our 584 00:26:17,800 --> 00:26:20,760 Speaker 1: elected leaders take a page out of Macrone's book, and 585 00:26:20,760 --> 00:26:23,680 Speaker 1: hopefully we as US citizens react a little differently. As 586 00:26:23,680 --> 00:26:26,240 Speaker 1: I see the fires in the street, they're like, yeah, yeah, yeah, 587 00:26:26,320 --> 00:26:29,160 Speaker 1: let's do that. We'll hold off a couple more years ago, 588 00:26:29,520 --> 00:26:32,760 Speaker 1: let things calm down over emparised. Yeah, which I get, 589 00:26:32,880 --> 00:26:35,399 Speaker 1: but still not the best way to proceed. Let's talk 590 00:26:35,400 --> 00:26:37,719 Speaker 1: about cell phones for a second. Matt and cell phone plans. 591 00:26:38,280 --> 00:26:40,399 Speaker 1: Verizon announced a couple of weeks ago that they're going 592 00:26:40,440 --> 00:26:42,520 Speaker 1: to be raising rates on some of their older cell 593 00:26:42,520 --> 00:26:44,960 Speaker 1: phone plans. Not by much, talking like two dollars a 594 00:26:45,000 --> 00:26:47,040 Speaker 1: month on a lot of these plans. But the additional 595 00:26:47,080 --> 00:26:49,760 Speaker 1: fee is set to be added on April tenth, and 596 00:26:49,840 --> 00:26:52,720 Speaker 1: it's not necessarily that this two dollars a month fee 597 00:26:53,200 --> 00:26:55,040 Speaker 1: is what you should be repulsed by. This isn't going 598 00:26:55,080 --> 00:26:57,520 Speaker 1: to break the bank, break the budget of most of 599 00:26:57,560 --> 00:26:59,320 Speaker 1: our listeners. Two bucks a month, like most people get 600 00:26:59,320 --> 00:27:02,119 Speaker 1: to handle that, But it's it's the overall price that 601 00:27:02,160 --> 00:27:04,760 Speaker 1: you're likely paying if you're on a Verizon phone plan, 602 00:27:05,000 --> 00:27:07,240 Speaker 1: and two extra dollars should be the thing that finally 603 00:27:07,280 --> 00:27:09,200 Speaker 1: gets you to switch. I should the yeah, that straw 604 00:27:09,200 --> 00:27:12,120 Speaker 1: that breaks the camel's back. Yes, exactly. And so Americans, 605 00:27:12,119 --> 00:27:15,240 Speaker 1: I think they're paying something around seventy five bucks for 606 00:27:15,280 --> 00:27:18,040 Speaker 1: a single line on average for cell phone service every 607 00:27:18,080 --> 00:27:20,080 Speaker 1: single month. Those two much. It's not the two bucks, 608 00:27:20,080 --> 00:27:22,040 Speaker 1: it's the seventy five versus the fifteen or twenty that 609 00:27:22,040 --> 00:27:24,200 Speaker 1: they really could be paying, right, And so yeah, this 610 00:27:24,200 --> 00:27:26,720 Speaker 1: this added fee, it really should be the last straw 611 00:27:26,960 --> 00:27:29,480 Speaker 1: getting you to finally move your business to one of 612 00:27:29,480 --> 00:27:33,200 Speaker 1: the major discounters like Mint, Visible Boost or Google five. 613 00:27:33,240 --> 00:27:34,960 Speaker 1: Those are some of the best ones. That's right. Yeah, 614 00:27:35,040 --> 00:27:37,440 Speaker 1: And so on that note, Mint Mobile they announced I 615 00:27:37,480 --> 00:27:39,280 Speaker 1: guess was this last week or maybe in the week before, 616 00:27:39,640 --> 00:27:44,119 Speaker 1: but they are selling to T Mobile. And let's be honest, 617 00:27:44,160 --> 00:27:47,439 Speaker 1: we're not thrilled about this, but we're also not despondent 618 00:27:47,840 --> 00:27:49,800 Speaker 1: because T Mobile, you know, they've kind of been a 619 00:27:49,840 --> 00:27:52,399 Speaker 1: disruptor in the cell phone space. It seems like over 620 00:27:52,480 --> 00:27:54,359 Speaker 1: the years that they've sort of held the likes of 621 00:27:54,640 --> 00:27:57,880 Speaker 1: Verizon and AT and T accountable in many ways. Again 622 00:27:57,960 --> 00:28:01,880 Speaker 1: going back to the competition station, the more competitors there are, 623 00:28:02,119 --> 00:28:04,800 Speaker 1: the better. Yeah, that's why we're not happy about Mint 624 00:28:04,840 --> 00:28:07,439 Speaker 1: getting bought out by T Mobile. But the fact that 625 00:28:07,560 --> 00:28:09,760 Speaker 1: I don't know that T Mobile exists, I guess makes 626 00:28:09,760 --> 00:28:11,520 Speaker 1: me happy. And Mint still really has some of the 627 00:28:11,800 --> 00:28:14,760 Speaker 1: best cheap offerings and Team Mobile has made it sound 628 00:28:14,800 --> 00:28:16,800 Speaker 1: like they're going to keep it that way. If they 629 00:28:16,880 --> 00:28:18,720 Speaker 1: change things dramatically, it would I think it would be 630 00:28:18,720 --> 00:28:21,560 Speaker 1: a massive mistake, Like why would you spend that much 631 00:28:21,560 --> 00:28:24,040 Speaker 1: money on this growing, affordable brand only to jack their 632 00:28:24,080 --> 00:28:26,879 Speaker 1: rates up. It sounds like Ryan Reynolds he's still going 633 00:28:26,920 --> 00:28:28,800 Speaker 1: to be involved, which I think that bodes well since 634 00:28:28,840 --> 00:28:32,640 Speaker 1: he's basically who spearheaded Mint and the messaging so far, 635 00:28:32,720 --> 00:28:35,160 Speaker 1: it's been that T Mobile is not planning to raise 636 00:28:35,200 --> 00:28:38,160 Speaker 1: prices on the Mintmobile plans, which is good. So fingers 637 00:28:38,160 --> 00:28:40,320 Speaker 1: crossed that Team Mobile that they stayed true to their 638 00:28:40,320 --> 00:28:43,200 Speaker 1: word and if that isn't how things actually play out, 639 00:28:43,200 --> 00:28:45,760 Speaker 1: you'll definitely be hearing about it right here. How the Money. 640 00:28:45,800 --> 00:28:47,400 Speaker 1: But in the meantime, we're going to continue to use 641 00:28:47,480 --> 00:28:49,960 Speaker 1: our Mintmobile plans to the max. Yeah, they're great and 642 00:28:50,120 --> 00:28:51,800 Speaker 1: we're big fans. We've used them for like three Well, 643 00:28:51,840 --> 00:28:54,040 Speaker 1: we don't have the unlimited ones because we don't need them, 644 00:28:54,040 --> 00:28:57,840 Speaker 1: not so the unlimited max correct to the cheapest gig 645 00:28:57,920 --> 00:29:00,600 Speaker 1: amount we need max, but exactly, and you know, it's 646 00:29:00,600 --> 00:29:02,960 Speaker 1: still one of the cheapest plans out there for sure 647 00:29:03,040 --> 00:29:05,320 Speaker 1: that a lot of people should think about. And yeah, 648 00:29:05,400 --> 00:29:08,200 Speaker 1: if Mintmobile all of a sudden goes Darth Vader takes 649 00:29:08,200 --> 00:29:10,480 Speaker 1: a turn for the worst or something like that, we will. Yeah, 650 00:29:10,520 --> 00:29:13,440 Speaker 1: we'll report back, but hopefully not so Matt. That's going 651 00:29:13,480 --> 00:29:15,920 Speaker 1: to do it for this episode. If you want show 652 00:29:15,960 --> 00:29:17,440 Speaker 1: notes and you want links to any of the stuff 653 00:29:17,480 --> 00:29:18,960 Speaker 1: that we mentioned, you can find those up on our 654 00:29:19,000 --> 00:29:22,400 Speaker 1: website at howtomoney dot com. That's right, So until next time, 655 00:29:22,600 --> 00:29:24,560 Speaker 1: Best Friends Out, Best Friends Out.