1 00:00:00,120 --> 00:00:02,840 Speaker 1: Welcome to How the Money. I'm Joel into I am 2 00:00:03,000 --> 00:00:05,680 Speaker 1: Matt and he's Matt, and today we're talking work from 3 00:00:05,680 --> 00:00:08,200 Speaker 1: home or raise taxes are a waste of time and 4 00:00:08,480 --> 00:00:29,160 Speaker 1: the worst way to travel? Who signed me up for 5 00:00:29,200 --> 00:00:32,240 Speaker 1: that worst way to travel? That sounds awesome. This is 6 00:00:32,280 --> 00:00:35,440 Speaker 1: our Friday Flight episode where every Friday we look at 7 00:00:35,479 --> 00:00:38,760 Speaker 1: the different headlines that have come across our screens this 8 00:00:38,800 --> 00:00:41,080 Speaker 1: past week, and we talked about the different ways that 9 00:00:41,120 --> 00:00:43,800 Speaker 1: they're going to impact your money. Uh, and Joel. Before 10 00:00:43,840 --> 00:00:45,640 Speaker 1: we kind of dive into the stories, we've been talking 11 00:00:45,640 --> 00:00:48,080 Speaker 1: about the different vaccine incentives. Did you see that more 12 00:00:48,120 --> 00:00:51,559 Speaker 1: states are kind of unrolling these programs to to make 13 00:00:51,600 --> 00:00:54,240 Speaker 1: sure folks are getting vaccinated in their states. They're following 14 00:00:54,240 --> 00:00:56,800 Speaker 1: in Ohio's footsteps. I love seeing that, Yeah, which is 15 00:00:56,840 --> 00:00:58,240 Speaker 1: I didn't realize at the time. I guess we talked 16 00:00:58,240 --> 00:00:59,639 Speaker 1: about this last week or a couple of weeks ago, 17 00:00:59,680 --> 00:01:04,960 Speaker 1: but it's called the Ohio Vaximilian, which I love. I mean, honestly, 18 00:01:05,640 --> 00:01:08,639 Speaker 1: one reason I love the Vaccimilians because we thought about 19 00:01:09,560 --> 00:01:14,240 Speaker 1: naming Westy instead of Westy nam naming him Maximilian, which 20 00:01:14,280 --> 00:01:15,760 Speaker 1: I think is such a I don't know It's kind 21 00:01:15,760 --> 00:01:18,880 Speaker 1: of like this European old school kind of names, like 22 00:01:18,880 --> 00:01:20,479 Speaker 1: you'd have to wear a bow tie that was his name. 23 00:01:21,880 --> 00:01:23,960 Speaker 1: I don't think it would have fits our lifestyle, just 24 00:01:24,000 --> 00:01:26,640 Speaker 1: the way we love life. We're super crunchy over here. 25 00:01:26,680 --> 00:01:29,399 Speaker 1: But I like that name in particular the Ohio's program. 26 00:01:29,520 --> 00:01:32,640 Speaker 1: Yeah yeah, and I love seeing other other states following suit. 27 00:01:32,720 --> 00:01:37,399 Speaker 1: Essentially Maryland has vax cash and yeah, so yeah, if 28 00:01:37,400 --> 00:01:40,080 Speaker 1: if your state is doing one of these vaccine lotteries, 29 00:01:40,120 --> 00:01:41,560 Speaker 1: we love to see it. Like anyway that we can 30 00:01:41,560 --> 00:01:43,840 Speaker 1: incentivize people. We talked to me was it last week 31 00:01:43,840 --> 00:01:48,600 Speaker 1: about incentives, and incentives are the essence of behavioral economics. 32 00:01:48,600 --> 00:01:50,120 Speaker 1: The world go around. If we can, if we can 33 00:01:50,120 --> 00:01:53,320 Speaker 1: incentivize people properly, then we can get the right results. 34 00:01:53,320 --> 00:01:55,320 Speaker 1: And I think, um, you know, with the goal being 35 00:01:55,560 --> 00:01:57,840 Speaker 1: to vaccinate more and more of the country, let's get 36 00:01:57,840 --> 00:02:00,280 Speaker 1: people excited about it and help them maybe be able 37 00:02:00,320 --> 00:02:02,520 Speaker 1: to win money. Um. Yeah, I love seeing kind of 38 00:02:02,520 --> 00:02:05,640 Speaker 1: states taking this approach. New York's is called vaccine Scratch, 39 00:02:07,360 --> 00:02:09,600 Speaker 1: which I understand, you know, like the you know, like 40 00:02:09,639 --> 00:02:13,079 Speaker 1: the scratch off thing, but like the vax and scratch 41 00:02:13,360 --> 00:02:15,239 Speaker 1: kind of like the combination that doesn't that kind of 42 00:02:15,280 --> 00:02:16,680 Speaker 1: make you feel like you're, I don't know, like you're 43 00:02:16,680 --> 00:02:18,760 Speaker 1: gonna have a reaction to the shot. It sounds a 44 00:02:18,760 --> 00:02:21,880 Speaker 1: little creepy, has like a negative connotation in my mind. 45 00:02:21,919 --> 00:02:23,920 Speaker 1: But uh, and also too, I saw that West Virginia 46 00:02:23,960 --> 00:02:27,040 Speaker 1: they're offering a hundred dollar gift cards, I think, to everybody, 47 00:02:27,080 --> 00:02:29,720 Speaker 1: and that's going to be a retroactive deal as well. 48 00:02:29,760 --> 00:02:32,720 Speaker 1: So basically, even though they're starting the program, now, if 49 00:02:32,720 --> 00:02:35,600 Speaker 1: you've gotten the vaccine and you can prove it, then 50 00:02:35,639 --> 00:02:37,400 Speaker 1: you get that one hundred dollar gift card. Dude, I 51 00:02:37,520 --> 00:02:39,320 Speaker 1: love it. I love seeing that stuff. All Right, Well, 52 00:02:39,360 --> 00:02:41,520 Speaker 1: we'll keep reporting if if more of those things pop up. 53 00:02:41,520 --> 00:02:43,239 Speaker 1: But Matt, let's let's keep moving on. Let's get to 54 00:02:43,240 --> 00:02:46,360 Speaker 1: the Friday flight. More stories we found interesting this week, 55 00:02:46,800 --> 00:02:49,880 Speaker 1: and uh and how they pertain to everyone's personal finances 56 00:02:49,960 --> 00:02:51,840 Speaker 1: and and there's a lot to get to today. Uh. 57 00:02:52,040 --> 00:02:54,160 Speaker 1: And the first story we want to talk about has 58 00:02:54,200 --> 00:02:56,880 Speaker 1: to do with shopping, and Matt, we we've all of 59 00:02:56,919 --> 00:02:59,880 Speaker 1: course been doing more online shopping over the last fifteen 60 00:03:00,480 --> 00:03:03,320 Speaker 1: and many of our favorite small businesses have been hit 61 00:03:03,360 --> 00:03:05,640 Speaker 1: hard by that, right they A lot of our dollars 62 00:03:05,680 --> 00:03:07,760 Speaker 1: have been going to some of the bigger online retailers, 63 00:03:07,840 --> 00:03:10,200 Speaker 1: and few of those dollars going to some of the 64 00:03:10,600 --> 00:03:13,240 Speaker 1: small businesses that we know and love, partly because we 65 00:03:13,360 --> 00:03:16,280 Speaker 1: did feel comfortable going into that small business right Well, 66 00:03:16,320 --> 00:03:19,280 Speaker 1: Google is trying to help those small businesses out and 67 00:03:19,280 --> 00:03:22,000 Speaker 1: I like seeing this that they're set to highlight more 68 00:03:22,080 --> 00:03:26,079 Speaker 1: small business offerings when you're doing your online shopping. Google 69 00:03:26,200 --> 00:03:29,239 Speaker 1: just partnered with Shopify to make it easier for folks 70 00:03:29,240 --> 00:03:32,840 Speaker 1: to discover millions of smaller companies and brands. Sometimes when 71 00:03:32,880 --> 00:03:35,920 Speaker 1: you're researching a product, you you get maybe like Costco, 72 00:03:36,120 --> 00:03:39,680 Speaker 1: Walmarts whatever, Like yeah, all, but that's all we look 73 00:03:39,680 --> 00:03:43,080 Speaker 1: at Amazon, yes, all the biggest internet retailers, like those 74 00:03:43,160 --> 00:03:45,880 Speaker 1: the first ones you're gonna see. But now, if you 75 00:03:46,080 --> 00:03:48,760 Speaker 1: own a small business and you Shopify, there's like a 76 00:03:48,760 --> 00:03:50,880 Speaker 1: little opt in thing you need to do on the 77 00:03:50,880 --> 00:03:53,200 Speaker 1: back end of the website, but it's super simple to 78 00:03:53,240 --> 00:03:55,080 Speaker 1: do that, and then the good news is that your 79 00:03:55,120 --> 00:03:58,600 Speaker 1: stuff is gonna appear alongside some of those major retailers, 80 00:03:58,640 --> 00:04:02,560 Speaker 1: helping everybody, us small business owners and online shoppers discover. 81 00:04:02,680 --> 00:04:05,120 Speaker 1: You know, some of these great goods that small business 82 00:04:05,120 --> 00:04:09,360 Speaker 1: retailers who have their goods posted online as well are offering. Yeah. 83 00:04:09,360 --> 00:04:11,680 Speaker 1: So this is great for small businesses because essentially it 84 00:04:11,760 --> 00:04:13,680 Speaker 1: levels the playing field, right, It allows them to get 85 00:04:13,680 --> 00:04:17,200 Speaker 1: in front of online shoppers without having to fork out 86 00:04:17,240 --> 00:04:20,240 Speaker 1: tons of money on advertising. Uh. And these small businesses 87 00:04:20,279 --> 00:04:22,520 Speaker 1: don't have the kind of advertising budgets that some of 88 00:04:22,560 --> 00:04:26,760 Speaker 1: these larger companies do. They just get like squashed basically. Yes, yeah, yeah, 89 00:04:26,880 --> 00:04:29,280 Speaker 1: I mean not just the online companies, but just the 90 00:04:29,279 --> 00:04:32,160 Speaker 1: online marketplaces as well. I mean, they're also pushing their 91 00:04:32,160 --> 00:04:34,880 Speaker 1: products pretty hard. But this is also good for online 92 00:04:34,920 --> 00:04:36,960 Speaker 1: shoppers because, I mean, it makes a little more fun, 93 00:04:37,080 --> 00:04:39,719 Speaker 1: right if you're being delivered results that aren't just the 94 00:04:39,760 --> 00:04:43,000 Speaker 1: typical results right from Amazon or Walmart. I mean literally, 95 00:04:43,000 --> 00:04:45,120 Speaker 1: that's I feel like all we ever shot from when 96 00:04:45,120 --> 00:04:47,800 Speaker 1: it comes to buying stuff online these days. But it 97 00:04:47,800 --> 00:04:49,640 Speaker 1: seems like that the idea is for you to be 98 00:04:49,640 --> 00:04:52,560 Speaker 1: able to discover unique goods. You're not just being fed 99 00:04:52,600 --> 00:04:55,760 Speaker 1: the standard wears that everyone is being fed online, the 100 00:04:55,800 --> 00:04:57,880 Speaker 1: same good thread shirt that like eight people on your 101 00:04:57,880 --> 00:05:01,240 Speaker 1: street are already wearing. May you can actually buy something 102 00:05:01,440 --> 00:05:03,960 Speaker 1: something unique. But I'm also kind of down with the 103 00:05:04,000 --> 00:05:07,000 Speaker 1: idea of just not putting any thought towards in particular. 104 00:05:07,080 --> 00:05:09,359 Speaker 1: You you mentioned clothes and like good thread. That's because 105 00:05:09,400 --> 00:05:10,880 Speaker 1: I feel like I can kind of get behind just 106 00:05:10,960 --> 00:05:12,960 Speaker 1: having like white Like literally, right now, I'm wearing a 107 00:05:12,960 --> 00:05:15,760 Speaker 1: white T shirt, just a plain white T shirt with 108 00:05:15,800 --> 00:05:19,520 Speaker 1: a pocket. That's your Steve Jobs equivalent. It's true, Yeah, 109 00:05:19,560 --> 00:05:20,839 Speaker 1: but I'm kind of a weird I. We don't need 110 00:05:20,880 --> 00:05:23,039 Speaker 1: to go down that path. That would be a really 111 00:05:23,040 --> 00:05:28,440 Speaker 1: long episode if we talked about all that's true. Let's 112 00:05:28,480 --> 00:05:31,800 Speaker 1: talk about your right to repair. There's a new report 113 00:05:31,800 --> 00:05:34,560 Speaker 1: from the Federal Trade Commission that says that companies are 114 00:05:34,600 --> 00:05:38,560 Speaker 1: making repairs too difficult for would be d I wires 115 00:05:38,560 --> 00:05:40,599 Speaker 1: folks like me who are looking to replace their screen 116 00:05:41,000 --> 00:05:45,320 Speaker 1: on their old iPhone se And that report calls out 117 00:05:45,360 --> 00:05:47,520 Speaker 1: companies in a lot of different spheres that are doing 118 00:05:47,560 --> 00:05:50,200 Speaker 1: this from uh, you know, smartphone manufacturers all the way 119 00:05:50,240 --> 00:05:53,560 Speaker 1: to larger purchases that we would make like carmakers. And 120 00:05:53,560 --> 00:05:56,800 Speaker 1: so for instance, some electronics, they use the different specialized screws, 121 00:05:57,360 --> 00:06:00,960 Speaker 1: dedicated tools, right, so not your typical flatthead scre driver. Uh. 122 00:06:00,960 --> 00:06:03,320 Speaker 1: And they just use other techniques as well that make 123 00:06:03,360 --> 00:06:06,799 Speaker 1: it far more difficult to even try to repair your items. 124 00:06:06,800 --> 00:06:09,560 Speaker 1: Like gluing things in place instead of having them be removable. 125 00:06:09,640 --> 00:06:11,280 Speaker 1: So not being able to repair your your phone or 126 00:06:11,279 --> 00:06:13,479 Speaker 1: your laptop are making it more difficult to fix your car. 127 00:06:13,720 --> 00:06:16,920 Speaker 1: This creates more waste and it costs us all money. 128 00:06:17,120 --> 00:06:19,000 Speaker 1: And so yeah, we're glad to see that the FTC 129 00:06:19,160 --> 00:06:21,640 Speaker 1: is shining some light on this. Yeah, I would love 130 00:06:21,720 --> 00:06:23,880 Speaker 1: to see a shake up in here, because we all 131 00:06:23,960 --> 00:06:25,719 Speaker 1: deserve to be able to repair the things that we 132 00:06:25,800 --> 00:06:28,560 Speaker 1: buy a little bit easier, and when manufacturers are intentionally 133 00:06:28,600 --> 00:06:31,839 Speaker 1: making it more difficult, that's super frustrating. And so hopefully, yeah, 134 00:06:31,880 --> 00:06:35,039 Speaker 1: this FTC report, you know, gains gains more light and 135 00:06:35,600 --> 00:06:38,119 Speaker 1: manufacturers start to react because yeah, we talked about planned 136 00:06:38,120 --> 00:06:40,359 Speaker 1: opts a lescens back in the episode two sixty six. 137 00:06:40,720 --> 00:06:42,840 Speaker 1: It's hard to read this report and then not be 138 00:06:42,880 --> 00:06:46,520 Speaker 1: frustrated right about what manufacturers are up to. But but yeah, 139 00:06:46,560 --> 00:06:48,000 Speaker 1: I think two at the same time, at there is 140 00:06:48,120 --> 00:06:49,640 Speaker 1: light at the end of the tunnel, because in that 141 00:06:49,760 --> 00:06:53,200 Speaker 1: same report, it's stated that twenty seven states have introduced 142 00:06:53,279 --> 00:06:56,680 Speaker 1: right to repair legislation since January of this year, So 143 00:06:56,760 --> 00:06:59,200 Speaker 1: just in one alone, a lot of states have kind 144 00:06:59,200 --> 00:07:02,120 Speaker 1: of caught onto this. And if those get past these 145 00:07:02,160 --> 00:07:05,640 Speaker 1: laws are going to force manufacturers to offer customers access 146 00:07:05,680 --> 00:07:08,280 Speaker 1: to the same information, the same parts, and the same 147 00:07:08,279 --> 00:07:11,160 Speaker 1: tools that they give some of these authorized repair shops, 148 00:07:11,400 --> 00:07:14,280 Speaker 1: um putting the power back in your hands, making it 149 00:07:14,280 --> 00:07:16,640 Speaker 1: a little easier to perform some of those repairs. To 150 00:07:16,960 --> 00:07:18,880 Speaker 1: replace your own screen if you want, as opposed to 151 00:07:18,960 --> 00:07:22,720 Speaker 1: they're taking it somewhere and paying someone ninety a hundred 152 00:07:22,720 --> 00:07:24,240 Speaker 1: dollars to do it, you might be able to do 153 00:07:24,280 --> 00:07:27,160 Speaker 1: it on your own for fifteen to twenty which is yeah, 154 00:07:27,200 --> 00:07:29,480 Speaker 1: I think everyone deserves that right, and it's going to 155 00:07:29,560 --> 00:07:31,560 Speaker 1: save us all a lot of money by being able 156 00:07:31,600 --> 00:07:34,560 Speaker 1: to repair our own things much easier, that's right. And 157 00:07:34,600 --> 00:07:37,240 Speaker 1: it's not just our ability to make repairs and our 158 00:07:37,280 --> 00:07:39,240 Speaker 1: goods too. But you know, we're talking about somebody that's 159 00:07:39,280 --> 00:07:41,480 Speaker 1: in between us doing it and an authorized retailer, right, 160 00:07:41,480 --> 00:07:44,240 Speaker 1: So we're talking about as well third party repair shops, 161 00:07:44,240 --> 00:07:46,520 Speaker 1: and when they don't have access to the right tools 162 00:07:46,560 --> 00:07:48,480 Speaker 1: and the and the right parts, you can often be 163 00:07:48,520 --> 00:07:51,720 Speaker 1: stuck with paying full price from an authorized repair shop 164 00:07:51,880 --> 00:07:53,800 Speaker 1: or then just tossing the good out. And and that's 165 00:07:53,840 --> 00:07:56,600 Speaker 1: when it can really affect those who can't afford a 166 00:07:56,600 --> 00:07:59,040 Speaker 1: new item, right because instead of getting repaired, or if 167 00:07:59,080 --> 00:08:01,560 Speaker 1: it's just incredibly expensive to get repaired because you can 168 00:08:01,560 --> 00:08:03,760 Speaker 1: only go to an authorized shop, well that might just 169 00:08:03,840 --> 00:08:05,600 Speaker 1: total your phone. And you think, well, what's the point 170 00:08:05,640 --> 00:08:07,640 Speaker 1: in spending you know, a hundred and fifty bucks to 171 00:08:07,680 --> 00:08:09,360 Speaker 1: repair this thing when I could spend two hundred and 172 00:08:09,360 --> 00:08:11,240 Speaker 1: just get a bran new item. But even still, that's 173 00:08:11,240 --> 00:08:13,840 Speaker 1: maybe fifty more bucks that you would rather not have spent. 174 00:08:14,040 --> 00:08:15,760 Speaker 1: But you're kind of tempted to do that anyway, because 175 00:08:15,760 --> 00:08:17,560 Speaker 1: you're thinking, oh, may as well get the latest technology, 176 00:08:17,600 --> 00:08:19,040 Speaker 1: right right, Yeah, So we'll keep an eye on this 177 00:08:19,080 --> 00:08:21,360 Speaker 1: because we want to see progress, because we want to 178 00:08:21,360 --> 00:08:24,040 Speaker 1: see some of these bills past the state legislatures and 179 00:08:24,040 --> 00:08:25,720 Speaker 1: in a lot of these states, it's gonna make a 180 00:08:25,760 --> 00:08:28,080 Speaker 1: big difference in all of our lives when it comes 181 00:08:28,120 --> 00:08:30,280 Speaker 1: to being able to yea repair those items that we 182 00:08:30,360 --> 00:08:32,720 Speaker 1: love that just got like, you know, a little messed up. Yeah, 183 00:08:32,760 --> 00:08:34,439 Speaker 1: just that crack on the screen. That's no reason to 184 00:08:34,440 --> 00:08:36,880 Speaker 1: throw a phone away at all. Right, let's talk about taxes. 185 00:08:36,960 --> 00:08:39,120 Speaker 1: Tax Day was a couple or you know, the delayed 186 00:08:39,160 --> 00:08:41,920 Speaker 1: tax Day was a couple of weeks ago May of course, 187 00:08:42,360 --> 00:08:44,240 Speaker 1: so we feel that now might be a good time 188 00:08:44,280 --> 00:08:48,000 Speaker 1: to ask the question how folks feel about taxes just 189 00:08:48,040 --> 00:08:50,320 Speaker 1: in general? You know, you would you would assume maybe 190 00:08:50,320 --> 00:08:54,160 Speaker 1: that most folks would respond negatively when asked about taxes. 191 00:08:54,200 --> 00:08:57,800 Speaker 1: But uh, the tax It can be confusing, But in 192 00:08:57,960 --> 00:09:01,240 Speaker 1: poll after poll over the years, seem to be fond 193 00:09:01,600 --> 00:09:05,160 Speaker 1: specifically of the deductions that they receive, even if that 194 00:09:05,200 --> 00:09:07,920 Speaker 1: means added complexity. It's kind of like, I don't know, 195 00:09:07,960 --> 00:09:10,440 Speaker 1: maybe how like everyone you know is okay with like 196 00:09:10,480 --> 00:09:13,760 Speaker 1: their own congress person, yet they dislike Congress in general 197 00:09:13,880 --> 00:09:16,480 Speaker 1: right as a whole. The disparity in those numbers is 198 00:09:16,679 --> 00:09:19,720 Speaker 1: is just often incredible, Like people love their own congress person, 199 00:09:19,840 --> 00:09:22,320 Speaker 1: but eleven of people like love Congress and think that 200 00:09:22,360 --> 00:09:25,160 Speaker 1: they're doing a good job all together. Yeah, but a 201 00:09:25,200 --> 00:09:27,439 Speaker 1: recent staff from the I R S reveals that the 202 00:09:27,480 --> 00:09:32,160 Speaker 1: average American spends eleven hours filing their personal income taxes. 203 00:09:32,480 --> 00:09:34,920 Speaker 1: I'm gonna be honest, that feels like a lot of time. Um, 204 00:09:34,960 --> 00:09:36,760 Speaker 1: you know, I don't mind paying my taxes, but it 205 00:09:36,800 --> 00:09:38,599 Speaker 1: would definitely be nice if we could make it a 206 00:09:38,640 --> 00:09:40,440 Speaker 1: lot simpler and if it took a lot less time. 207 00:09:40,600 --> 00:09:42,600 Speaker 1: I think that is something I think you're right, Like 208 00:09:42,679 --> 00:09:44,960 Speaker 1: we don't have to get rid necessarily of all of 209 00:09:45,000 --> 00:09:49,480 Speaker 1: the potential deductions, but simplifying taxes for for everyone's sake, 210 00:09:49,880 --> 00:09:52,280 Speaker 1: I think would be really helpful. And and actually we 211 00:09:52,360 --> 00:09:54,760 Speaker 1: have made tax day a little bit simpler for folks 212 00:09:54,760 --> 00:09:57,559 Speaker 1: in recent years thanks to the Tax Cuts and Jobs 213 00:09:57,600 --> 00:10:01,120 Speaker 1: Act that increased standard deduction. It means that filing taxes 214 00:10:01,120 --> 00:10:03,240 Speaker 1: has become simpler for tens of millions of folks. A 215 00:10:03,240 --> 00:10:05,800 Speaker 1: lot a lot of folks don't have to itemize their deductions. No, right. 216 00:10:05,840 --> 00:10:08,760 Speaker 1: It makes it really chill for just a good swath 217 00:10:08,760 --> 00:10:11,600 Speaker 1: of the population to file their taxes, whereas it used 218 00:10:11,600 --> 00:10:14,040 Speaker 1: to be more complicated. But there's still I think more 219 00:10:14,440 --> 00:10:16,800 Speaker 1: that can be done to make filing taxes less frustrating 220 00:10:17,080 --> 00:10:19,319 Speaker 1: and also to prevent them from sucking up so much 221 00:10:19,320 --> 00:10:21,160 Speaker 1: of our time. It's that eleven hour number that's just 222 00:10:21,240 --> 00:10:24,600 Speaker 1: like that that feels like overkill, it's unnecessary. And in 223 00:10:24,640 --> 00:10:27,200 Speaker 1: a lot of other countries, citizens are sent a form 224 00:10:27,240 --> 00:10:30,080 Speaker 1: that's already filled out because basically, you know, their central 225 00:10:30,120 --> 00:10:33,320 Speaker 1: authority when it comes to taxation, already has those numbers 226 00:10:33,320 --> 00:10:35,000 Speaker 1: on you. They don't need you to fill them in 227 00:10:35,080 --> 00:10:38,040 Speaker 1: and then send them their way. Uh. Countries like Germany, Japan, 228 00:10:38,120 --> 00:10:41,599 Speaker 1: and the UK use what's called an exact withholding system 229 00:10:41,640 --> 00:10:45,079 Speaker 1: that means citizens aren't spending hours filing their taxes. It's 230 00:10:45,120 --> 00:10:47,160 Speaker 1: basically done for them because of the way, like I said, 231 00:10:47,160 --> 00:10:50,600 Speaker 1: income reporting happens in those countries and those pre filled forms, 232 00:10:50,960 --> 00:10:53,560 Speaker 1: they not only cut down on the stress, uh, they 233 00:10:53,920 --> 00:10:57,200 Speaker 1: raise compliance at the same time. So if you're traditionally employed, 234 00:10:57,440 --> 00:10:59,720 Speaker 1: the i r S has all this data, Like why 235 00:10:59,720 --> 00:11:02,520 Speaker 1: haven't made it simpler like many of these other countries. 236 00:11:02,559 --> 00:11:04,720 Speaker 1: It kind of baffles me. And yeah, that that's seeing 237 00:11:04,760 --> 00:11:07,480 Speaker 1: that number that it's eleven hours of people's time to 238 00:11:07,520 --> 00:11:09,840 Speaker 1: file their taxes, Like why can't we get something like 239 00:11:09,840 --> 00:11:12,160 Speaker 1: this going on? And I would love to see it 240 00:11:12,200 --> 00:11:15,439 Speaker 1: become easier, simpler and take less time for everybody to 241 00:11:15,440 --> 00:11:17,800 Speaker 1: file their taxes because we all know it's our civic 242 00:11:17,840 --> 00:11:19,520 Speaker 1: duty and we're happy to do it. Just don't make 243 00:11:19,559 --> 00:11:21,880 Speaker 1: me waste my time doing it. Totally. Yeah, I'm in 244 00:11:21,880 --> 00:11:23,959 Speaker 1: favor of pre filled forms, but I mean some countries, 245 00:11:24,240 --> 00:11:25,960 Speaker 1: I mean there is no form that you receive right, 246 00:11:26,000 --> 00:11:29,360 Speaker 1: like the taxes just calculated and like that. I I'm 247 00:11:29,400 --> 00:11:31,079 Speaker 1: not as much of a fan of right Like when 248 00:11:31,080 --> 00:11:34,360 Speaker 1: it's like a sealed box where you can't peer inside 249 00:11:34,600 --> 00:11:36,679 Speaker 1: and you can't see kind of like where like how 250 00:11:36,720 --> 00:11:38,680 Speaker 1: things are calculated. I think that's I mean, that's one 251 00:11:38,720 --> 00:11:41,360 Speaker 1: of the reasons again going back to why Americans why 252 00:11:41,400 --> 00:11:43,520 Speaker 1: they like the current tax system is because when you're 253 00:11:43,520 --> 00:11:45,439 Speaker 1: able to kind of work a little bit and you're 254 00:11:45,520 --> 00:11:48,360 Speaker 1: essentially hunting down these deductions and it feels good, you know, 255 00:11:48,400 --> 00:11:50,640 Speaker 1: there's it's there's like a chemical release that happens in 256 00:11:50,640 --> 00:11:52,600 Speaker 1: your brain when you're like, yes, I get to pay 257 00:11:52,640 --> 00:11:55,480 Speaker 1: the government less money. Uh, And so I do like 258 00:11:55,520 --> 00:11:57,680 Speaker 1: the idea, Yeah, pre filled forms. That sounds good to me. 259 00:11:57,760 --> 00:11:59,160 Speaker 1: But I don't know if I trust the government like 260 00:11:59,200 --> 00:12:01,240 Speaker 1: they're already to decide how much taxes I'm going to pay, 261 00:12:01,280 --> 00:12:04,040 Speaker 1: but to allow them or even employers or businesses to 262 00:12:04,120 --> 00:12:06,680 Speaker 1: calculate what your actual taxes and for you to not 263 00:12:06,720 --> 00:12:08,600 Speaker 1: have any say or or to be able to make 264 00:12:08,640 --> 00:12:10,880 Speaker 1: any modifications or adjustments, like, I guess that's the part 265 00:12:10,920 --> 00:12:12,800 Speaker 1: of it that I feel like it feels a little 266 00:12:13,040 --> 00:12:15,400 Speaker 1: feels pretty big government to me. Yeah, I think I'm 267 00:12:15,400 --> 00:12:16,679 Speaker 1: more of a fan of kind of working for the 268 00:12:16,800 --> 00:12:19,000 Speaker 1: deductions as opposed to kind of like sitting back. You know, 269 00:12:19,040 --> 00:12:21,680 Speaker 1: I think I might like the more active approach versus Yeah, 270 00:12:21,720 --> 00:12:24,040 Speaker 1: the kind of passive approach to to taxes. There's gotta 271 00:12:24,040 --> 00:12:26,199 Speaker 1: be some happy medium, Yes, I agree though, Yeah, I 272 00:12:26,200 --> 00:12:28,680 Speaker 1: think getting me in ways for us to slim it down. Yeah, 273 00:12:28,679 --> 00:12:30,800 Speaker 1: then being able to make some adjustments based on you 274 00:12:30,800 --> 00:12:32,960 Speaker 1: know what, the numbers that the that the government has 275 00:12:33,000 --> 00:12:35,920 Speaker 1: reported on you. Um as opposed to starting everything from 276 00:12:35,920 --> 00:12:38,240 Speaker 1: scratch on your end, there's gotta be a better way. 277 00:12:38,400 --> 00:12:40,240 Speaker 1: Do you feel like you spent the average number of 278 00:12:40,360 --> 00:12:42,920 Speaker 1: hours eleven hours on your taxes? But I also had 279 00:12:42,920 --> 00:12:45,280 Speaker 1: someone file my return for me, so that is money 280 00:12:45,320 --> 00:12:47,800 Speaker 1: well spent. Yeah, paying for an accountant when you have 281 00:12:47,880 --> 00:12:50,800 Speaker 1: more complicated taxes or when you own investment properties like 282 00:12:50,840 --> 00:12:53,120 Speaker 1: we do, makes a lot of sense, no doubt. All, Well, 283 00:12:53,200 --> 00:12:55,920 Speaker 1: let's move on, Matt. There's a really interesting story that 284 00:12:56,080 --> 00:13:02,600 Speaker 1: Listener will shot over this week about investing and basically, well, yeah, big, thanks. Well, 285 00:13:02,760 --> 00:13:05,480 Speaker 1: we love when people send the stories. Yeah so, and 286 00:13:05,880 --> 00:13:07,560 Speaker 1: or a ludicrous headline of the week if you found 287 00:13:07,600 --> 00:13:09,760 Speaker 1: something crazy in the headlines. We'll get to that actually 288 00:13:09,840 --> 00:13:11,760 Speaker 1: in just a second, but will sent over the story 289 00:13:11,880 --> 00:13:14,400 Speaker 1: that there are more four oh k and ire a 290 00:13:14,520 --> 00:13:17,400 Speaker 1: millionaires now than ever before, and that was according to 291 00:13:17,480 --> 00:13:21,000 Speaker 1: a recent recent data from Fidelity and Matt. I feel 292 00:13:21,000 --> 00:13:22,960 Speaker 1: like that makes a ton of sense, right, I think 293 00:13:23,000 --> 00:13:26,360 Speaker 1: anybody could have said, yeah, I would imagine that there 294 00:13:26,360 --> 00:13:28,200 Speaker 1: would be after kind of what the stock market has 295 00:13:28,320 --> 00:13:31,760 Speaker 1: done over the last eleven years and particularly over the 296 00:13:31,800 --> 00:13:35,120 Speaker 1: past year. Um, I'm really glad for for all those 297 00:13:35,160 --> 00:13:37,760 Speaker 1: newly minted millionaires. But I think the thing I found 298 00:13:37,840 --> 00:13:41,280 Speaker 1: most interesting in the survey data that was even cooler 299 00:13:41,720 --> 00:13:45,280 Speaker 1: is that seventeen percent of workers increased their contributions in 300 00:13:45,280 --> 00:13:47,640 Speaker 1: the first quarter of this year. So I think, you know, 301 00:13:47,679 --> 00:13:50,360 Speaker 1: as we've seen the stock market reaching new heights, people 302 00:13:50,400 --> 00:13:52,160 Speaker 1: are like, I need to be putting more money in 303 00:13:52,160 --> 00:13:55,240 Speaker 1: the market. That's great, right, because that increased savings rate 304 00:13:55,280 --> 00:13:57,880 Speaker 1: is actually what's going to help those people become retirement 305 00:13:57,880 --> 00:14:01,160 Speaker 1: account millionaires way more quickly to putting more of your 306 00:14:01,160 --> 00:14:03,719 Speaker 1: money to work for you. That is what's going to 307 00:14:03,800 --> 00:14:06,679 Speaker 1: generate more wealth. Yeah, that's how you become a millionaire, right. 308 00:14:06,720 --> 00:14:08,800 Speaker 1: Like another set in that survey was that the average 309 00:14:08,800 --> 00:14:11,320 Speaker 1: four O on K millionaire was setting aside at least 310 00:14:11,320 --> 00:14:13,839 Speaker 1: four percent of their pay, So you know, yeah, the 311 00:14:13,840 --> 00:14:16,720 Speaker 1: stock markets incredible upward movements. It's just like the wind 312 00:14:16,920 --> 00:14:18,959 Speaker 1: being at your back. But the only way that you're 313 00:14:18,960 --> 00:14:22,000 Speaker 1: gonna join that record number of millionaires is through that 314 00:14:22,120 --> 00:14:25,520 Speaker 1: high savings rate. It's not rocket science, but it's interesting 315 00:14:25,560 --> 00:14:28,440 Speaker 1: to see, uh, those specific numbers, and you know, that 316 00:14:28,480 --> 00:14:31,440 Speaker 1: fourteen percent number and specifically really tracks with what we've 317 00:14:31,480 --> 00:14:34,560 Speaker 1: been telling listeners. You know, striving to invest around fifteen 318 00:14:34,560 --> 00:14:36,360 Speaker 1: percent of your income is going to have a major 319 00:14:36,400 --> 00:14:39,080 Speaker 1: impact on your ability to reach financial independence. You know, 320 00:14:39,120 --> 00:14:41,560 Speaker 1: the less you spend, the more you're able to invest, 321 00:14:41,880 --> 00:14:44,200 Speaker 1: the faster you're gonna be able to achieve financial independence. 322 00:14:44,440 --> 00:14:46,240 Speaker 1: That's a great thing, but you know, at the same time, 323 00:14:46,240 --> 00:14:49,080 Speaker 1: there's there's more to life than just achieving financial independence. 324 00:14:49,200 --> 00:14:51,080 Speaker 1: There is gonna have that balance, that's right, Yeah, But 325 00:14:51,120 --> 00:14:52,680 Speaker 1: fifteen percent is a good number to aim for. I 326 00:14:52,720 --> 00:14:55,120 Speaker 1: think lots of times we what we tell people is 327 00:14:55,160 --> 00:14:56,880 Speaker 1: a good goal, that's what they shoot for. And if 328 00:14:56,880 --> 00:14:59,320 Speaker 1: we tell them ten percent, that's that's what they're aiming for. 329 00:14:59,360 --> 00:15:00,960 Speaker 1: But I think if fIF temper since your target, that's 330 00:15:01,000 --> 00:15:02,760 Speaker 1: a better target because you're gonna be able to build 331 00:15:02,760 --> 00:15:06,120 Speaker 1: financial independence more quickly. Um and generally speaking, we just 332 00:15:06,200 --> 00:15:07,840 Speaker 1: I mean, we want our listeners to be above average. 333 00:15:07,960 --> 00:15:10,480 Speaker 1: You know, like like whatever average is, you want to 334 00:15:10,480 --> 00:15:12,840 Speaker 1: be above average because you know, you know what average 335 00:15:12,840 --> 00:15:14,960 Speaker 1: looks like. You can look around at your neighbors, at 336 00:15:14,960 --> 00:15:18,080 Speaker 1: your coworkers, uh, and what the average American has in debt, 337 00:15:18,120 --> 00:15:19,880 Speaker 1: what they have in savings. We want to be better 338 00:15:19,920 --> 00:15:21,840 Speaker 1: than average, and not in a way like we're better 339 00:15:21,880 --> 00:15:23,440 Speaker 1: than other people, but in a way that like, yeah, 340 00:15:23,440 --> 00:15:27,240 Speaker 1: we want to save uh and invest like better than 341 00:15:27,320 --> 00:15:29,280 Speaker 1: the average American because we want to have send a 342 00:15:29,280 --> 00:15:32,000 Speaker 1: better position exactly. Yeah, it's just about having different options 343 00:15:32,080 --> 00:15:34,320 Speaker 1: available to you. Yeah. All right, We've got more stories 344 00:15:34,360 --> 00:15:36,640 Speaker 1: to get to, Matt, including the worst way to travel 345 00:15:36,800 --> 00:15:38,720 Speaker 1: and would you rather continue working from home or get 346 00:15:38,720 --> 00:15:41,000 Speaker 1: a big raise? We'll talk about that and more right 347 00:15:41,040 --> 00:15:52,480 Speaker 1: after this break. We're back and we are covering the 348 00:15:52,480 --> 00:15:54,560 Speaker 1: different stories we've come across this week. This is our 349 00:15:54,600 --> 00:15:56,840 Speaker 1: Friday Flight episode and Joe, now it's signed for our 350 00:15:56,880 --> 00:16:00,120 Speaker 1: ludicrous headline of the week of the week of the 351 00:16:00,160 --> 00:16:02,600 Speaker 1: week of the week. We just need to say that 352 00:16:02,640 --> 00:16:05,800 Speaker 1: a bunch of times we're getting better. Uh. This week's 353 00:16:05,840 --> 00:16:07,760 Speaker 1: Liticrous headline of the Week comes from The Wall Street 354 00:16:07,840 --> 00:16:10,920 Speaker 1: Journal and The title of this article goes the Olympian 355 00:16:10,960 --> 00:16:15,800 Speaker 1: who turned a profit on her wedding. Dude who turns 356 00:16:15,880 --> 00:16:18,840 Speaker 1: a profit on their actual wedding? Never heard of that before. 357 00:16:19,120 --> 00:16:22,440 Speaker 1: I had to read it. What's the deal here? So 358 00:16:22,560 --> 00:16:24,720 Speaker 1: this couple did? This is a cool story because the 359 00:16:24,760 --> 00:16:27,560 Speaker 1: general belief is that weddings right, that they need to 360 00:16:27,600 --> 00:16:31,120 Speaker 1: cost a fortune these days. But I'm gonna butcher her name. 361 00:16:31,120 --> 00:16:34,280 Speaker 1: But uh, the subject of this article was Katura or he. 362 00:16:34,480 --> 00:16:36,080 Speaker 1: I think it's maybe how you say it or probably, 363 00:16:36,400 --> 00:16:39,360 Speaker 1: but she will hopefully become the first American to medal 364 00:16:39,480 --> 00:16:42,080 Speaker 1: in the triple jump in the upcoming Olympics. She set 365 00:16:42,200 --> 00:16:44,760 Speaker 1: a strict limit of five thousand dollars for her small 366 00:16:44,760 --> 00:16:48,360 Speaker 1: wedding last year, but she said that they actually stopped 367 00:16:48,400 --> 00:16:50,280 Speaker 1: keeping track of what they were spending because they were 368 00:16:50,320 --> 00:16:54,160 Speaker 1: so far under the five thou limit, which is awesome. Uh, 369 00:16:54,280 --> 00:16:56,720 Speaker 1: She's one of those examples of someone who, you know, 370 00:16:56,920 --> 00:16:58,840 Speaker 1: we talked about how budgeting is important, but we have 371 00:16:58,840 --> 00:17:01,400 Speaker 1: talked about there's a small of her people who don't 372 00:17:01,440 --> 00:17:03,600 Speaker 1: necessarily need to budget. She might be into that category. No, 373 00:17:03,680 --> 00:17:05,159 Speaker 1: she needs to because she just needs to know what 374 00:17:05,200 --> 00:17:06,399 Speaker 1: the bar is and then she's just gonna blow it 375 00:17:06,400 --> 00:17:08,159 Speaker 1: out of the water. I mean, if you're an Olympian 376 00:17:08,280 --> 00:17:11,639 Speaker 1: like you, you're just wired that way. You're just like 377 00:17:11,720 --> 00:17:15,840 Speaker 1: crush every goal. He's seriously, but I really believe that 378 00:17:16,160 --> 00:17:18,720 Speaker 1: a smaller budget can help you, you know, get more creative, 379 00:17:18,760 --> 00:17:20,960 Speaker 1: and that that can result in a ceremony, you know, 380 00:17:20,960 --> 00:17:23,879 Speaker 1: wedding ceremony. That's even cooler. But you might be wondering, 381 00:17:23,880 --> 00:17:26,080 Speaker 1: how did they actually make money on their wedding. They 382 00:17:26,080 --> 00:17:29,600 Speaker 1: didn't sell tickets or anything like that, but the monetary 383 00:17:29,600 --> 00:17:32,280 Speaker 1: gifts of their friends and family that surpassed what they 384 00:17:32,320 --> 00:17:35,199 Speaker 1: actually spent, so in essence, they kind of turned a profit, 385 00:17:35,520 --> 00:17:37,320 Speaker 1: you know, by getting married, which is pretty funny. Pretty 386 00:17:37,320 --> 00:17:39,320 Speaker 1: smooth man, pretty smooth. I like that. And then like 387 00:17:39,480 --> 00:17:42,000 Speaker 1: that was a really cool story. And the article went 388 00:17:42,080 --> 00:17:46,280 Speaker 1: into a lot of detail about Katura's thriftiness and Matt, 389 00:17:46,440 --> 00:17:48,199 Speaker 1: this is so good. She went to your alma mater too, 390 00:17:48,800 --> 00:17:50,760 Speaker 1: g A. So I'm sure you already kind of were 391 00:17:50,800 --> 00:17:54,080 Speaker 1: kind of like, I like her, I'm bonding with her already, sheep. 392 00:17:54,160 --> 00:17:56,280 Speaker 1: She went to all I could think, you know, reading 393 00:17:56,280 --> 00:17:57,680 Speaker 1: the story was we gotta have her on the show 394 00:17:57,720 --> 00:18:00,320 Speaker 1: at some point she seemed just super cool. But while 395 00:18:00,359 --> 00:18:02,199 Speaker 1: running track at U g A, she would save the 396 00:18:02,200 --> 00:18:04,480 Speaker 1: per diem that she got instead of spending it on 397 00:18:04,520 --> 00:18:07,280 Speaker 1: restaurant food, like you know, probably her fellow athletes were 398 00:18:07,280 --> 00:18:09,680 Speaker 1: doing spending all their per diem. She was putting that away, 399 00:18:09,680 --> 00:18:12,480 Speaker 1: socking it away, and instead of nights out in Athens, 400 00:18:12,520 --> 00:18:14,199 Speaker 1: which is a fun talent to go out in, she 401 00:18:14,200 --> 00:18:16,840 Speaker 1: would put together puzzles or play games with friends at home. 402 00:18:17,160 --> 00:18:19,120 Speaker 1: She would even her some of her friends would say, 403 00:18:19,400 --> 00:18:21,199 Speaker 1: we're cited as saying that she was sitting in the 404 00:18:21,240 --> 00:18:24,680 Speaker 1: dark with the lights turned off to conserve electricity, or 405 00:18:24,880 --> 00:18:27,480 Speaker 1: she would like wrap herself in a blanket instead of 406 00:18:27,480 --> 00:18:30,720 Speaker 1: turning on the heats. Right, I feel like you are 407 00:18:30,720 --> 00:18:32,520 Speaker 1: like they are all the cheap things that I do, 408 00:18:32,680 --> 00:18:36,560 Speaker 1: all probably like sibling separated at birth. She also was 409 00:18:36,560 --> 00:18:38,719 Speaker 1: like talked about how a verse she was to name brands. 410 00:18:38,880 --> 00:18:41,600 Speaker 1: I feel like I love everything about about her, and yeah, 411 00:18:41,640 --> 00:18:44,280 Speaker 1: we're gonna be pulling for her hard. When it comes 412 00:18:44,280 --> 00:18:46,840 Speaker 1: to the Tokyo Olympics and triple jump, just what a 413 00:18:46,880 --> 00:18:48,760 Speaker 1: cool thing to do, Like, I mean, you have to 414 00:18:48,800 --> 00:18:51,360 Speaker 1: be an incredible athlete to do the triple jump, so uh, yeah, 415 00:18:51,359 --> 00:18:54,040 Speaker 1: I just love that story and I love to just 416 00:18:54,080 --> 00:18:55,520 Speaker 1: like what she was saying is that you can get 417 00:18:55,560 --> 00:18:57,679 Speaker 1: married and have an awesome wedding for a whole lot 418 00:18:57,760 --> 00:19:00,360 Speaker 1: less than you think you have to spend a total me. Yeah, 419 00:19:00,400 --> 00:19:03,000 Speaker 1: really inspiring story. And it's gonna yeah, absolutely, it's gonna 420 00:19:03,040 --> 00:19:05,320 Speaker 1: make me. Everyone calls her ko evidently, so it makes 421 00:19:05,359 --> 00:19:07,000 Speaker 1: me want to keep an eye out for her, uh 422 00:19:07,240 --> 00:19:09,520 Speaker 1: to cheer for her whenever the Olympics actually do happen 423 00:19:09,560 --> 00:19:11,800 Speaker 1: for sure. But all right, Joel, so let's talk about 424 00:19:11,800 --> 00:19:15,000 Speaker 1: working from home. Would you prefer to keep working from 425 00:19:15,000 --> 00:19:17,199 Speaker 1: home assuming, you know, if assuming you had a standard 426 00:19:17,200 --> 00:19:18,560 Speaker 1: corporate at nine to five where you had to go 427 00:19:18,560 --> 00:19:21,159 Speaker 1: into the office, would you rather be able to continue 428 00:19:21,200 --> 00:19:23,040 Speaker 1: working from home, you know, the flexibility that a lot 429 00:19:23,040 --> 00:19:25,080 Speaker 1: of folks have had this past year, or get a 430 00:19:25,119 --> 00:19:27,200 Speaker 1: huge race. So I would come down on the side 431 00:19:27,320 --> 00:19:31,399 Speaker 1: of Rays, but only because I like love working with 432 00:19:31,400 --> 00:19:33,160 Speaker 1: my coworkers, seeing him in person. That it's that kind 433 00:19:33,160 --> 00:19:35,840 Speaker 1: of thing I missed, that environment, like being around lots 434 00:19:35,840 --> 00:19:37,520 Speaker 1: of folks. I mean, let's be honest, you just stuck 435 00:19:37,560 --> 00:19:40,360 Speaker 1: with me down here. Now that we're full time doing 436 00:19:40,400 --> 00:19:42,480 Speaker 1: a lot of drums. Some days. You know, no, But 437 00:19:42,720 --> 00:19:44,280 Speaker 1: I will say too, if I had like a really 438 00:19:44,280 --> 00:19:46,840 Speaker 1: long commute, I would easily choose work from home because 439 00:19:46,880 --> 00:19:49,040 Speaker 1: commutes to me, and we talked about a long long 440 00:19:49,080 --> 00:19:52,040 Speaker 1: time ago how your commute is killing you, and that's 441 00:19:52,080 --> 00:19:55,080 Speaker 1: just that's just reality that commutes are awful for us 442 00:19:55,160 --> 00:19:58,280 Speaker 1: mentally physically. And I think if you have an hour 443 00:19:58,359 --> 00:20:01,159 Speaker 1: plus commuter or forty five minute commun I would definitely 444 00:20:01,200 --> 00:20:03,240 Speaker 1: take the work from home. I hear you, dude. Yeah, 445 00:20:03,280 --> 00:20:05,040 Speaker 1: that was a that was the subject of an interesting 446 00:20:05,080 --> 00:20:08,159 Speaker 1: survey that we saw recently. Over three thousand employees of 447 00:20:08,240 --> 00:20:10,920 Speaker 1: some of the largest companies were asked whether that they 448 00:20:10,920 --> 00:20:14,359 Speaker 1: would prefer getting a thirty thousand dollar raise or be 449 00:20:14,400 --> 00:20:17,400 Speaker 1: able to continue working from home, and the results were 450 00:20:17,440 --> 00:20:20,240 Speaker 1: a little shocking. Two out of three folks who took 451 00:20:20,240 --> 00:20:22,960 Speaker 1: the survey they picked the work from home flexibility over 452 00:20:23,080 --> 00:20:27,399 Speaker 1: that thirty k bump in their pay. That's pretty crazy. Uh. 453 00:20:27,440 --> 00:20:30,800 Speaker 1: Those results come at the same time as more employers 454 00:20:31,040 --> 00:20:33,320 Speaker 1: are actually working to get their employees back into the 455 00:20:33,359 --> 00:20:35,200 Speaker 1: offices that have been closed for more than a year. 456 00:20:35,400 --> 00:20:38,040 Speaker 1: So it's gonna be really interesting to see how this 457 00:20:38,080 --> 00:20:40,320 Speaker 1: plays out, because it's gonna be I think it's gonna 458 00:20:40,320 --> 00:20:42,400 Speaker 1: be tough to get employees back into that twenty nine 459 00:20:42,600 --> 00:20:44,679 Speaker 1: mindset when they've you know, they've been basking in the 460 00:20:44,720 --> 00:20:47,960 Speaker 1: increased flexibility that working from home has offered them over 461 00:20:47,960 --> 00:20:50,160 Speaker 1: the past fifteen months. As I was kind of thinking 462 00:20:50,160 --> 00:20:51,520 Speaker 1: through it as well, and I was like, Okay, yeah, 463 00:20:51,520 --> 00:20:53,159 Speaker 1: there's no way I would choose to go in even 464 00:20:53,200 --> 00:20:55,879 Speaker 1: thought dollars is a lot of money. But then I 465 00:20:55,960 --> 00:20:58,120 Speaker 1: just realized too that I'm going to have a hard 466 00:20:58,160 --> 00:21:01,320 Speaker 1: time distinguishing working from home, uh from being my own 467 00:21:01,359 --> 00:21:03,399 Speaker 1: boss and working for my own business, you know. And 468 00:21:03,440 --> 00:21:05,439 Speaker 1: so the only time I've ever worked from home has 469 00:21:05,440 --> 00:21:07,640 Speaker 1: always been because I was doing it for myself. I've 470 00:21:07,640 --> 00:21:09,440 Speaker 1: had the double letter score. But then on top of that, 471 00:21:09,480 --> 00:21:11,520 Speaker 1: I've kind of had like the triple words score going 472 00:21:11,520 --> 00:21:14,480 Speaker 1: on at the same time. Uh. And so like looking back, 473 00:21:14,960 --> 00:21:17,000 Speaker 1: I know, like there have been times and opportunities that 474 00:21:17,040 --> 00:21:20,600 Speaker 1: I've turned down potential, like great paying jobs with awesome 475 00:21:20,640 --> 00:21:23,399 Speaker 1: benefits because just imagining myself having to get up at 476 00:21:23,440 --> 00:21:25,600 Speaker 1: a certain time and go into work at a specific time, 477 00:21:26,000 --> 00:21:28,600 Speaker 1: not having that flexibility kind of seriously bumped me out. 478 00:21:28,640 --> 00:21:31,480 Speaker 1: So it's something I just, yeah, tend to avoid I guess, yeah, 479 00:21:31,480 --> 00:21:33,520 Speaker 1: it would have been interesting to be interested to see 480 00:21:33,760 --> 00:21:35,800 Speaker 1: like how it would have changed as they may be increased, 481 00:21:35,800 --> 00:21:37,000 Speaker 1: like all right, what if what if we give you 482 00:21:37,920 --> 00:21:40,360 Speaker 1: because at some point, you know, yeah, at some point 483 00:21:40,400 --> 00:21:42,520 Speaker 1: you're gonna say, okay, it is now worth it, right, 484 00:21:42,640 --> 00:21:44,600 Speaker 1: But but yeah, I'm not totally sure where that would 485 00:21:44,640 --> 00:21:45,960 Speaker 1: have been for me, because like, yeah, if you get 486 00:21:45,960 --> 00:21:48,080 Speaker 1: if it's fifty, it's like, oh, I've become four one 487 00:21:48,160 --> 00:21:51,240 Speaker 1: K millionaire much earlier, seriously, and I otherwise wouldn't I 488 00:21:51,240 --> 00:21:54,480 Speaker 1: can I can you know, quit work altogether earlier? That 489 00:21:54,560 --> 00:21:57,639 Speaker 1: changes the game? Yeah, so interesting interesting study there, And 490 00:21:57,680 --> 00:21:59,639 Speaker 1: I think to Matt, people will likely have the ability 491 00:21:59,680 --> 00:22:02,840 Speaker 1: to push back on whatever work from home schedule their 492 00:22:02,880 --> 00:22:06,080 Speaker 1: employer is saying that they want to to see happen 493 00:22:06,119 --> 00:22:08,520 Speaker 1: this coming fall or you know, maybe even sooner. It 494 00:22:08,520 --> 00:22:11,159 Speaker 1: should look more, I think, like a negotiation than just 495 00:22:11,200 --> 00:22:13,520 Speaker 1: an edict from your employer. And so I would say 496 00:22:13,520 --> 00:22:15,440 Speaker 1: to all our listeners out there who maybe are starting 497 00:22:15,440 --> 00:22:18,840 Speaker 1: to get like, uh, you know, emails from their employers 498 00:22:18,840 --> 00:22:21,080 Speaker 1: saying all right, it's time to come back in the office, Well, 499 00:22:21,119 --> 00:22:23,320 Speaker 1: don't be afraid to ask for more than what they're offering. 500 00:22:23,720 --> 00:22:25,840 Speaker 1: And as we've said before, since the job market is 501 00:22:25,880 --> 00:22:28,560 Speaker 1: really hot right now, your ability to find similar work 502 00:22:28,560 --> 00:22:31,480 Speaker 1: with another employer who's touting maybe like a better work 503 00:22:31,520 --> 00:22:34,320 Speaker 1: from home policy really could be worth looking into if 504 00:22:34,359 --> 00:22:36,840 Speaker 1: that's really important to you. Um, you might even get 505 00:22:36,840 --> 00:22:39,520 Speaker 1: paid more to by switching jobs. So I would just say, 506 00:22:39,560 --> 00:22:42,520 Speaker 1: don't take that email as like Moses coming down with 507 00:22:42,520 --> 00:22:45,200 Speaker 1: the Ten commandments, like you don't necessarily you're not You 508 00:22:45,359 --> 00:22:48,159 Speaker 1: don't have to necessarily apide by that. Um if you 509 00:22:48,200 --> 00:22:51,320 Speaker 1: have a well reasoned conversation with your immediate supervisor, and 510 00:22:51,320 --> 00:22:54,159 Speaker 1: you can always leave if it's that important to you, 511 00:22:54,240 --> 00:22:56,360 Speaker 1: And for a lot of people it is. It's understandable 512 00:22:56,520 --> 00:22:58,959 Speaker 1: because Pandoric's box has been opened and people are like, 513 00:22:59,160 --> 00:23:01,800 Speaker 1: oh no, no, I'm not on back to that former lifestyle. UM, 514 00:23:01,840 --> 00:23:04,080 Speaker 1: And I totally understand that response. Yeah, it's hard to 515 00:23:04,080 --> 00:23:06,040 Speaker 1: put that toothpaste back of the tube once it's come out, man. 516 00:23:06,160 --> 00:23:07,760 Speaker 1: And you know, so we're we're talking about the hot 517 00:23:07,840 --> 00:23:10,640 Speaker 1: job market here, but there are some folks out there 518 00:23:10,760 --> 00:23:14,240 Speaker 1: who haven't been able to find suitable work. It's about 519 00:23:14,280 --> 00:23:16,080 Speaker 1: to get even tougher for a lot of those people 520 00:23:16,119 --> 00:23:20,160 Speaker 1: now at least twenty four states are dropping federal unemployment benefits. 521 00:23:20,520 --> 00:23:22,840 Speaker 1: So if you are without a job and you've been 522 00:23:22,880 --> 00:23:26,359 Speaker 1: receiving that additional pandemic unemployment assistance that p u A. 523 00:23:27,000 --> 00:23:28,480 Speaker 1: Uh do you call it p u A or do 524 00:23:28,480 --> 00:23:31,600 Speaker 1: you call it POA? POA just sounds funny to say 525 00:23:31,640 --> 00:23:35,120 Speaker 1: pooa Uh. So know that right depending on where you live, 526 00:23:35,840 --> 00:23:37,800 Speaker 1: you might not be getting it much longer. Many of 527 00:23:38,119 --> 00:23:40,879 Speaker 1: these states that are shutting down the p u A 528 00:23:40,880 --> 00:23:43,960 Speaker 1: are facing a labor crunch uh, and the leaders of 529 00:23:44,000 --> 00:23:45,720 Speaker 1: those states believe that this is one of the best 530 00:23:45,720 --> 00:23:48,200 Speaker 1: ways to solve that problem. Uh. And a lot of 531 00:23:48,240 --> 00:23:51,520 Speaker 1: those states too, are are dropping that assistance next month 532 00:23:51,720 --> 00:23:55,280 Speaker 1: in June. June. Dude, heads up, this is happening, that's right. 533 00:23:55,280 --> 00:23:58,359 Speaker 1: So if you are receiving that, find out whether whether 534 00:23:58,359 --> 00:24:00,400 Speaker 1: your state is going to keep keep paying that out 535 00:24:00,520 --> 00:24:02,800 Speaker 1: or not. And and to like some some of those 536 00:24:02,840 --> 00:24:05,720 Speaker 1: states aren't just attempting to pull out the rug, but 537 00:24:05,720 --> 00:24:08,320 Speaker 1: they're also providing an incentive for folks to take some 538 00:24:08,359 --> 00:24:11,360 Speaker 1: of the available jobs. That's how badly some of these 539 00:24:11,359 --> 00:24:14,600 Speaker 1: states need workers to return. Arizona is one of a 540 00:24:14,640 --> 00:24:16,760 Speaker 1: few states that's paying a bonus to workers who get 541 00:24:16,760 --> 00:24:19,520 Speaker 1: back to work. For for example, folks who get employed 542 00:24:19,520 --> 00:24:21,240 Speaker 1: on a full time basis are gonna get two thousand 543 00:24:21,240 --> 00:24:23,480 Speaker 1: dollars and part time workers are going to get a 544 00:24:23,480 --> 00:24:26,760 Speaker 1: bonus of a thousand dollars. Yeah, they're not just trying 545 00:24:26,760 --> 00:24:28,840 Speaker 1: to remove there. They're not just using a stick approach 546 00:24:28,920 --> 00:24:31,640 Speaker 1: or using a carrot approach to They got both exactly 547 00:24:31,680 --> 00:24:34,280 Speaker 1: and and Montana is doing something similar as well. So yeah, 548 00:24:34,320 --> 00:24:36,760 Speaker 1: if your state is one of the ones dropping those 549 00:24:36,840 --> 00:24:39,240 Speaker 1: increased payments, checked to see if it's also adding that 550 00:24:39,280 --> 00:24:41,560 Speaker 1: incentive to get back to work, because yeah, you might 551 00:24:41,600 --> 00:24:44,080 Speaker 1: even on top of that, get an additional sign up 552 00:24:44,080 --> 00:24:46,680 Speaker 1: bonus from the employer that that you're that you're going 553 00:24:46,720 --> 00:24:49,159 Speaker 1: to get getting get hired by, because a lot of 554 00:24:49,160 --> 00:24:52,280 Speaker 1: employers are offering some sort of unique bonus right now 555 00:24:52,520 --> 00:24:54,400 Speaker 1: to bring people back. So maybe you get something from 556 00:24:54,400 --> 00:24:56,840 Speaker 1: your state, something from your employer that could be a 557 00:24:56,840 --> 00:24:58,840 Speaker 1: win win dude. It's all about these incentives, right Like 558 00:24:58,840 --> 00:25:00,720 Speaker 1: it's so it's gonna be so interesting to see how 559 00:25:00,720 --> 00:25:03,439 Speaker 1: these different states, how they fare after they try some 560 00:25:03,480 --> 00:25:05,879 Speaker 1: of these programs as they get folks back to work. 561 00:25:06,280 --> 00:25:08,399 Speaker 1: I mean this it's like evidence that we're such money nerds, 562 00:25:08,480 --> 00:25:11,320 Speaker 1: right like that, we're just excited to see what's actually 563 00:25:11,359 --> 00:25:13,600 Speaker 1: gonna happen. But that's definitely one of the benefits of 564 00:25:13,640 --> 00:25:15,520 Speaker 1: states having this power, right because each one of these 565 00:25:15,520 --> 00:25:17,520 Speaker 1: states is its own little experiments. And then down the 566 00:25:17,560 --> 00:25:19,439 Speaker 1: road economists can stop and they can look back at 567 00:25:19,440 --> 00:25:22,159 Speaker 1: the data and that can help direct policy, you know, 568 00:25:22,200 --> 00:25:24,480 Speaker 1: and and that hopefully will lead to better results in 569 00:25:24,520 --> 00:25:26,719 Speaker 1: the future. But but yeah, we will see how all 570 00:25:26,760 --> 00:25:29,119 Speaker 1: that pans out. And Okay, so man, earlier this week 571 00:25:29,160 --> 00:25:31,439 Speaker 1: we talked about traveling on the cheap with nomadic Matts 572 00:25:31,440 --> 00:25:34,480 Speaker 1: that we talked with him on Monday. As travel restrictions 573 00:25:34,480 --> 00:25:37,480 Speaker 1: are easing up and more folks are getting vaccinated, travel 574 00:25:37,560 --> 00:25:39,439 Speaker 1: is starting to look a whole lot more like it 575 00:25:39,480 --> 00:25:44,040 Speaker 1: did back in a little more so than where nobody 576 00:25:44,080 --> 00:25:46,200 Speaker 1: was doing any traveling. But there is one thing that 577 00:25:46,240 --> 00:25:48,919 Speaker 1: we didn't discuss with matt uh and that's the worst 578 00:25:48,920 --> 00:25:52,080 Speaker 1: way possible to travel. We should ask that question. It's like, hey, 579 00:25:52,080 --> 00:25:55,040 Speaker 1: what do you think folks should absolutely avoid doing? And 580 00:25:55,080 --> 00:25:57,399 Speaker 1: it's not being too cheap and in fact, this is 581 00:25:57,560 --> 00:25:59,680 Speaker 1: traveling this way, it's gonna cost you way more than 582 00:25:59,680 --> 00:26:03,120 Speaker 1: you think ink and we're talking about time shares. Uh, dude, 583 00:26:03,119 --> 00:26:06,240 Speaker 1: it is time share season and these companies that are 584 00:26:06,280 --> 00:26:08,880 Speaker 1: out there are already out in full force. They're trying 585 00:26:08,920 --> 00:26:11,400 Speaker 1: to sell you one. But don't take the bait. Don't bite. 586 00:26:11,440 --> 00:26:14,240 Speaker 1: You want to avoid time shares if you didn't already 587 00:26:14,240 --> 00:26:16,320 Speaker 1: know that. Yeah, and Matt, you've been to a timeshare 588 00:26:16,359 --> 00:26:19,240 Speaker 1: pitch yourself back in the day and you, uh, you 589 00:26:19,359 --> 00:26:22,040 Speaker 1: found the resolve not to not to, not to bite. 590 00:26:22,280 --> 00:26:24,480 Speaker 1: It's also very easy to find the resolved since I 591 00:26:24,560 --> 00:26:26,639 Speaker 1: was broke right out of college. Uh. I mean. And 592 00:26:26,680 --> 00:26:28,800 Speaker 1: the reason we're doing is because we're getting that free 593 00:26:28,800 --> 00:26:32,720 Speaker 1: breakfast and a hundred dollar VI's a gift card for 594 00:26:32,800 --> 00:26:35,040 Speaker 1: our group, and so in our case, it made a 595 00:26:35,080 --> 00:26:37,680 Speaker 1: lot of sense. But for most folks, I wouldn't recommend it. Yeah, 596 00:26:37,680 --> 00:26:39,560 Speaker 1: it's I'm honestly, for most people, it's not even worth 597 00:26:39,560 --> 00:26:42,320 Speaker 1: that free bee because of that just small potential that 598 00:26:42,359 --> 00:26:45,280 Speaker 1: the salesperson is so good that they overwhelm you into 599 00:26:45,320 --> 00:26:48,080 Speaker 1: signing some papers. Right, And the fact is that these 600 00:26:48,200 --> 00:26:51,600 Speaker 1: policies are sold, not bought. That's a key red flag. 601 00:26:52,119 --> 00:26:56,040 Speaker 1: Like when have you ever gone online to search time shares? Never? Never? 602 00:26:56,080 --> 00:26:58,520 Speaker 1: It's really only let's go perusing for the different time 603 00:26:58,560 --> 00:27:00,880 Speaker 1: share options that are out there. Let's let's see. It's 604 00:27:00,880 --> 00:27:03,560 Speaker 1: only when you're on location somewhere and someone offers you 605 00:27:03,640 --> 00:27:06,119 Speaker 1: something great and you're like, okay, yeah, i'll come to this, 606 00:27:06,160 --> 00:27:08,280 Speaker 1: I'll come to this presentation, and then you end up 607 00:27:08,320 --> 00:27:11,040 Speaker 1: being coerced essentially into into signing up for one. Yeah. Yeah, 608 00:27:11,040 --> 00:27:13,400 Speaker 1: if there's a presentation, that's a red flag that this 609 00:27:13,480 --> 00:27:15,040 Speaker 1: is probably something you would avoid. It kind of makes 610 00:27:15,080 --> 00:27:18,320 Speaker 1: me think of the different MLM presentations and probaties. It's like, Okay, 611 00:27:18,480 --> 00:27:20,320 Speaker 1: if this was so attractive, it was going to be 612 00:27:20,359 --> 00:27:22,719 Speaker 1: such a benefit to my finances, then why do you 613 00:27:22,760 --> 00:27:24,520 Speaker 1: have to throw a party and sell me on it. 614 00:27:24,560 --> 00:27:27,040 Speaker 1: This should be something that I'm seeking out. Nobody's seeking 615 00:27:27,040 --> 00:27:29,480 Speaker 1: out time shares, right exactly. Yeah. So I think another 616 00:27:29,560 --> 00:27:31,400 Speaker 1: red flag is that the value of a newly bought 617 00:27:31,440 --> 00:27:33,960 Speaker 1: timeshare plummet's more than the value of a new car 618 00:27:34,000 --> 00:27:35,840 Speaker 1: when you drive it off a lot. So, yeah, you 619 00:27:35,840 --> 00:27:40,399 Speaker 1: buy something that's let's say eight dollars and it's immediately 620 00:27:40,520 --> 00:27:43,359 Speaker 1: worth you know, next to nothing. And so yeah, if 621 00:27:43,400 --> 00:27:45,320 Speaker 1: you're traveling somewhere nice and someone tells you that you 622 00:27:45,320 --> 00:27:47,679 Speaker 1: can get a freebe for going to a timeshare presentation. 623 00:27:48,160 --> 00:27:50,639 Speaker 1: Don't bother. It's a waste of your time. And if 624 00:27:50,680 --> 00:27:52,240 Speaker 1: you end up buying one, you're gonna be stuck with 625 00:27:52,280 --> 00:27:55,320 Speaker 1: it along with the associated fees for years to come 626 00:27:55,400 --> 00:27:58,280 Speaker 1: because the resale market is almost non existent. Like I said, 627 00:27:58,320 --> 00:28:00,680 Speaker 1: what you pay for it that value, it's it's worth 628 00:28:00,760 --> 00:28:03,280 Speaker 1: next to nothing or less than nothing. In many cases, 629 00:28:03,520 --> 00:28:05,439 Speaker 1: sometimes people have to pay other people to take their 630 00:28:05,440 --> 00:28:08,080 Speaker 1: time share off their hands because of those recurring fees 631 00:28:08,080 --> 00:28:11,600 Speaker 1: that happen every single year once you've made that purchase. Yeah, 632 00:28:11,640 --> 00:28:14,000 Speaker 1: because you're stuck with that debt obligation. And so if 633 00:28:14,040 --> 00:28:17,159 Speaker 1: you made a mistake in your past, maybe before you 634 00:28:17,200 --> 00:28:19,359 Speaker 1: came across how the money, before you realize that a 635 00:28:19,480 --> 00:28:22,040 Speaker 1: timeshare wasn't the thing for you. We're not gonna judge you. 636 00:28:22,200 --> 00:28:23,560 Speaker 1: We're not gonna judge you not at all, but and 637 00:28:23,600 --> 00:28:26,440 Speaker 1: we want to help you. You can try to check 638 00:28:26,440 --> 00:28:30,320 Speaker 1: out Timeshare Users Group. There's a website online where you could, 639 00:28:30,600 --> 00:28:33,119 Speaker 1: you know, exchange good tips and ideas, but you can 640 00:28:33,119 --> 00:28:35,360 Speaker 1: also list your property there. You can also check out 641 00:28:35,359 --> 00:28:37,920 Speaker 1: the site Vacacia as well. I will link to both 642 00:28:37,920 --> 00:28:40,000 Speaker 1: of those in our show notes, but more than likely 643 00:28:40,120 --> 00:28:42,520 Speaker 1: you will have to actually give your time share away 644 00:28:42,520 --> 00:28:45,080 Speaker 1: because nobody wants to actually buy those. But in many 645 00:28:45,080 --> 00:28:47,480 Speaker 1: cases giving it away, it's actually going to be worth 646 00:28:47,520 --> 00:28:49,520 Speaker 1: it because you know, being able to escape those fees, 647 00:28:49,840 --> 00:28:51,680 Speaker 1: being able to reclaim some of that money that was 648 00:28:51,720 --> 00:28:53,960 Speaker 1: going towards this property that you're allowed to use that 649 00:28:54,080 --> 00:28:56,160 Speaker 1: different you know points in the year, it would be 650 00:28:56,200 --> 00:28:57,840 Speaker 1: a huge money when it would be totally worth it 651 00:28:57,880 --> 00:29:00,720 Speaker 1: for you to unload that property. Yeah, timeshares are like 652 00:29:00,760 --> 00:29:03,560 Speaker 1: a financial leech on your skin. You know, it's it's 653 00:29:03,640 --> 00:29:07,840 Speaker 1: rough graphic. Sorry. I thought about leeches recently because a 654 00:29:07,920 --> 00:29:10,000 Speaker 1: friend there she she took her daughters to this like 655 00:29:10,040 --> 00:29:12,160 Speaker 1: spot that we've been to before where the kids can 656 00:29:12,160 --> 00:29:14,280 Speaker 1: play and like this little river. And then I saw 657 00:29:14,280 --> 00:29:16,520 Speaker 1: another friend comments on that post and she said, hey, 658 00:29:16,720 --> 00:29:19,040 Speaker 1: that's where my kids got leeches on their feet, which 659 00:29:19,240 --> 00:29:21,360 Speaker 1: totally made me when you when you mentioned the leeches, 660 00:29:21,480 --> 00:29:24,040 Speaker 1: immediately thought about leeches possibly on my kid's feet, which 661 00:29:24,240 --> 00:29:26,480 Speaker 1: totally gross me out. So you did kind of That's 662 00:29:26,480 --> 00:29:29,480 Speaker 1: why I made that face. Sorry about that. Okay, all right, 663 00:29:29,480 --> 00:29:31,480 Speaker 1: Well that's gonna do it for this episode. For for 664 00:29:31,520 --> 00:29:33,200 Speaker 1: folks that want the show notes for this episode and 665 00:29:33,240 --> 00:29:35,080 Speaker 1: the links to some of the sites that we mentioned. 666 00:29:35,080 --> 00:29:37,200 Speaker 1: We'll have those up on our website at how to 667 00:29:37,280 --> 00:29:39,400 Speaker 1: Money dot com. Yeah, and if you come across an 668 00:29:39,400 --> 00:29:41,680 Speaker 1: interesting story that you see in the news that you 669 00:29:41,680 --> 00:29:43,400 Speaker 1: think maybe we should talk about here on the show, 670 00:29:43,720 --> 00:29:45,080 Speaker 1: you can send that to us. You can email it 671 00:29:45,120 --> 00:29:47,680 Speaker 1: to us at how to Money pod at gmail dot com. 672 00:29:48,040 --> 00:29:49,760 Speaker 1: If this is your first time listening to the show, 673 00:29:49,760 --> 00:29:51,240 Speaker 1: we would love it if you were to hit subscribe 674 00:29:51,240 --> 00:29:53,680 Speaker 1: so that you don't miss any future episodes. Coming up 675 00:29:53,680 --> 00:29:56,000 Speaker 1: on Monday, We've got an Ask how the Money episode 676 00:29:56,120 --> 00:29:58,840 Speaker 1: and that's where we answer listener questions, some great questions 677 00:29:58,840 --> 00:30:00,400 Speaker 1: that you'll have sent in, So I'm looking forward to 678 00:30:00,440 --> 00:30:03,440 Speaker 1: that episode. We hope everyone has a beautiful weekend and 679 00:30:03,520 --> 00:30:06,480 Speaker 1: Joel until next time, Best Friends Out, Best Friends Out.