1 00:00:00,080 --> 00:00:03,880 Speaker 1: Welcome to Out of Money. I'm Joel, I'm Matt. Today 2 00:00:04,480 --> 00:00:08,720 Speaker 1: we're talking tax tips, wage deflation, and being liberated from 3 00:00:08,760 --> 00:00:09,720 Speaker 1: low prices. 4 00:00:28,680 --> 00:00:31,440 Speaker 2: Of course, we got a touch on liberation Day, Joel, 5 00:00:31,480 --> 00:00:32,479 Speaker 2: how do you feel liberated? 6 00:00:32,760 --> 00:00:34,400 Speaker 3: I do? I do? From what? 7 00:00:34,840 --> 00:00:39,760 Speaker 2: From paying affordable prices. We'll actually get to all that 8 00:00:39,880 --> 00:00:42,360 Speaker 2: here in a bit, but this is our Friday Flight Buddy, 9 00:00:42,360 --> 00:00:45,720 Speaker 2: where we tackle the most pressing headlines and specifically how 10 00:00:46,360 --> 00:00:48,280 Speaker 2: they're gonna impact your money. 11 00:00:48,280 --> 00:00:50,960 Speaker 1: And there was some news this week, Oh there was 12 00:00:51,040 --> 00:00:53,000 Speaker 1: absolutely Before we get to all that, though, real quick, 13 00:00:53,000 --> 00:00:54,800 Speaker 1: I wanted to mention a quick shout out to Caitlin. 14 00:00:55,160 --> 00:00:57,040 Speaker 2: She was listening to a recent episode and her is 15 00:00:57,040 --> 00:00:59,280 Speaker 2: talking about raid On and she actually it was funny. 16 00:00:59,280 --> 00:01:01,440 Speaker 2: She emailed and she's like, how to hit pause and 17 00:01:01,480 --> 00:01:04,120 Speaker 2: reach out to you guys, because right on entered the chat. 18 00:01:05,400 --> 00:01:08,480 Speaker 2: But we were mentioning a listener had reached out and 19 00:01:08,640 --> 00:01:12,040 Speaker 2: was talking about some remediation. I guess he's gonna have 20 00:01:12,080 --> 00:01:13,880 Speaker 2: to install some stuff at the new house that they're 21 00:01:14,600 --> 00:01:19,119 Speaker 2: that they were purchasing, including a rate on remediation device. 22 00:01:19,160 --> 00:01:21,240 Speaker 2: I guess, like event fan that kind of thing. And 23 00:01:21,440 --> 00:01:23,040 Speaker 2: we kind of touched on how we didn't really know 24 00:01:23,200 --> 00:01:26,280 Speaker 2: much about radon. Well I know a lot more about 25 00:01:26,280 --> 00:01:29,680 Speaker 2: it now because Klen informed me. And I can't remember 26 00:01:29,720 --> 00:01:31,800 Speaker 2: if she mentioned this in the email or if this 27 00:01:31,880 --> 00:01:33,679 Speaker 2: was a part of my deep dive, but right on 28 00:01:34,000 --> 00:01:37,480 Speaker 2: is a radioactive substance. It's it's a radioactive. 29 00:01:36,959 --> 00:01:39,319 Speaker 1: Gas or I guess frightening, or like it's gonna turn 30 00:01:39,319 --> 00:01:42,400 Speaker 1: me into a superhero one of the two like Spider Man. No, 31 00:01:42,520 --> 00:01:43,880 Speaker 1: but it actually can cause lung cancer. 32 00:01:43,959 --> 00:01:47,160 Speaker 2: It causes lung cancer eventually, and that's I think that's 33 00:01:47,160 --> 00:01:49,000 Speaker 2: the big long period of time. Is that a lot 34 00:01:49,000 --> 00:01:52,520 Speaker 2: of times it's not seen as this pressing issue, but yeah, 35 00:01:52,600 --> 00:01:54,480 Speaker 2: like you live in a house and you got radon 36 00:01:54,600 --> 00:01:58,720 Speaker 2: coming up through the ground underneath, it gets getting trapped 37 00:01:58,720 --> 00:02:00,880 Speaker 2: in the maybe the cross space entering into the house, 38 00:02:00,920 --> 00:02:02,960 Speaker 2: and it can cause issues. So I looked into it. 39 00:02:03,000 --> 00:02:05,400 Speaker 2: Saw that you can buy like a fifteen dollars like 40 00:02:05,440 --> 00:02:08,399 Speaker 2: one time used test kit, or if you like the data, 41 00:02:08,560 --> 00:02:10,919 Speaker 2: they've got these little monitors, these little readouts, and you 42 00:02:10,960 --> 00:02:12,919 Speaker 2: can put that in your basement and kind of see 43 00:02:12,919 --> 00:02:15,320 Speaker 2: how maybe the levels might fluctuate, might give you a 44 00:02:15,320 --> 00:02:19,119 Speaker 2: better picture, but just search wherever it is that you live, 45 00:02:19,120 --> 00:02:22,000 Speaker 2: and whether or not right on is more or less 46 00:02:22,040 --> 00:02:24,160 Speaker 2: active in your area, because it turns out where we 47 00:02:24,200 --> 00:02:27,240 Speaker 2: are there are these different hotspots. Yeah, and the closer 48 00:02:27,280 --> 00:02:30,360 Speaker 2: you are, in particular to like the mountains, it seems 49 00:02:30,360 --> 00:02:33,600 Speaker 2: that there are higher levels of right on and that's 50 00:02:33,639 --> 00:02:37,000 Speaker 2: actually pretty descriptive of where we live, Joel. So I'm 51 00:02:37,000 --> 00:02:39,240 Speaker 2: going to look into this, all right. Yeah, good PSA 52 00:02:39,360 --> 00:02:41,080 Speaker 2: nice little tip, yep, for sure. All right. 53 00:02:41,080 --> 00:02:42,640 Speaker 1: I wanted to mention one other thing real quick before 54 00:02:42,639 --> 00:02:45,399 Speaker 1: we get tell the stories, Matt. My daughter is in 55 00:02:45,480 --> 00:02:48,440 Speaker 1: this like manners class, which is kind of goofy. I 56 00:02:48,440 --> 00:02:50,919 Speaker 1: never remember those. I never thought we would partake. 57 00:02:50,639 --> 00:02:52,960 Speaker 3: Of that ktillion? But is that what it's called. It's 58 00:02:53,000 --> 00:02:54,239 Speaker 3: not called that, but yeah, that's. 59 00:02:54,120 --> 00:02:55,680 Speaker 2: Basically that's what it was called when I was in 60 00:02:55,960 --> 00:02:57,639 Speaker 2: middle school. Did they send you to one? 61 00:02:57,720 --> 00:02:58,160 Speaker 3: Of course not? 62 00:02:58,240 --> 00:03:01,239 Speaker 1: Okay, I was gonna say, I haven't seen the fruits 63 00:03:01,280 --> 00:03:03,160 Speaker 1: of that. You've seen how I treat people too, I've 64 00:03:03,160 --> 00:03:05,560 Speaker 1: seen how you eat. I use the wrong fork all 65 00:03:05,560 --> 00:03:05,960 Speaker 1: the time. 66 00:03:06,160 --> 00:03:07,320 Speaker 3: That's the salad fork. Man. 67 00:03:08,160 --> 00:03:11,240 Speaker 1: Well, so she had to get some fancy dresses for 68 00:03:11,480 --> 00:03:13,920 Speaker 1: these classes because she's like learning how to dance with 69 00:03:13,960 --> 00:03:14,440 Speaker 1: boys and. 70 00:03:14,400 --> 00:03:16,000 Speaker 3: All that stuff. That's how it goes. 71 00:03:16,040 --> 00:03:18,400 Speaker 1: Man, that's the point we're at in our lives right now. Well, 72 00:03:19,200 --> 00:03:21,960 Speaker 1: Emily and Sama, she they went to the Thirst Store 73 00:03:22,000 --> 00:03:24,760 Speaker 1: to get some new dresses as just a smart move, right, 74 00:03:25,200 --> 00:03:27,320 Speaker 1: And the one thing she was she found some really 75 00:03:27,360 --> 00:03:29,720 Speaker 1: beautiful dresses. She was super stoked about it. The one 76 00:03:29,760 --> 00:03:33,440 Speaker 1: thing she was nervous about was, wait a second, is 77 00:03:33,480 --> 00:03:35,680 Speaker 1: that gonna be totally uncool that I got my stuff 78 00:03:35,720 --> 00:03:39,640 Speaker 1: at the thrift store. Nobody's gonna know, well, she she 79 00:03:39,640 --> 00:03:41,560 Speaker 1: she told her friends, Hey, I got dressed to the 80 00:03:41,560 --> 00:03:44,400 Speaker 1: Thirst Store, and they thought she was the coolest that 81 00:03:44,480 --> 00:03:46,480 Speaker 1: she got her dressed to the thrift store. And so 82 00:03:46,600 --> 00:03:48,320 Speaker 1: for folks who are out there and you're worried, you're like, 83 00:03:48,320 --> 00:03:49,360 Speaker 1: are people gonna judge me? 84 00:03:49,640 --> 00:03:49,920 Speaker 3: Dude? 85 00:03:49,960 --> 00:03:52,640 Speaker 1: People are gonna think if you get something cool, and 86 00:03:52,680 --> 00:03:54,200 Speaker 1: then you also, on top of that, got it at 87 00:03:54,200 --> 00:03:56,400 Speaker 1: a significant discount because you got it at the Thirst 88 00:03:56,400 --> 00:04:00,520 Speaker 1: Store and you didn't I guess, buy it from retailer 89 00:04:00,560 --> 00:04:02,800 Speaker 1: who's like has to manufacture that you're reusing something. 90 00:04:03,080 --> 00:04:05,480 Speaker 3: People just give you extra street cred, dude. Third Store 91 00:04:05,520 --> 00:04:06,360 Speaker 3: has always been cool. 92 00:04:06,400 --> 00:04:08,560 Speaker 2: I remember going to to the strift door when I 93 00:04:08,560 --> 00:04:10,680 Speaker 2: was in high school. And I don't know if it's 94 00:04:10,720 --> 00:04:13,000 Speaker 2: just how we view the world. Maybe we're just not 95 00:04:13,040 --> 00:04:14,280 Speaker 2: a part of the group jowl that thins. 96 00:04:14,280 --> 00:04:15,400 Speaker 3: The thrist store. 97 00:04:15,360 --> 00:04:18,559 Speaker 2: Is uncool, but the thrift store has always been cool. 98 00:04:19,320 --> 00:04:21,680 Speaker 2: And this is this used to be a knock on 99 00:04:22,040 --> 00:04:24,000 Speaker 2: living in the burbs, the fact. I remember thinking when 100 00:04:24,040 --> 00:04:25,280 Speaker 2: we moved up here that I was just like man, 101 00:04:25,360 --> 00:04:27,200 Speaker 2: nobody puts out, nobody does a kerb alert. 102 00:04:27,240 --> 00:04:27,960 Speaker 3: There's there's not. 103 00:04:28,040 --> 00:04:30,680 Speaker 2: Cool stuff out on the street. But it's because they're 104 00:04:30,680 --> 00:04:33,440 Speaker 2: donating at all to Goodwill. You've got this third party 105 00:04:33,480 --> 00:04:35,919 Speaker 2: that's gone through stuff to make sure it's up to snuff, 106 00:04:36,160 --> 00:04:38,200 Speaker 2: and then you get to show up. They've curated it 107 00:04:38,240 --> 00:04:41,040 Speaker 2: for you, right, And then you show up and our 108 00:04:41,080 --> 00:04:44,040 Speaker 2: oldest she are all nikes called like air Force ones. 109 00:04:44,080 --> 00:04:45,760 Speaker 2: Now I don't I don't really understand. I don't think so, 110 00:04:45,800 --> 00:04:47,320 Speaker 2: but I think those are the popular night I thought 111 00:04:47,360 --> 00:04:49,560 Speaker 2: it used to be just a singular shoe, but no, 112 00:04:49,640 --> 00:04:50,760 Speaker 2: it seems like I don't know. 113 00:04:51,320 --> 00:04:53,599 Speaker 1: Or something, Yeah, like all those shoes are air Force 114 00:04:53,640 --> 00:04:55,280 Speaker 1: maybe like the Jordan's where there's a line of them. 115 00:04:55,279 --> 00:04:56,240 Speaker 3: Now probably I guess so. 116 00:04:56,440 --> 00:04:58,839 Speaker 2: But she picked up a pair of like these dope 117 00:04:58,920 --> 00:05:02,080 Speaker 2: sea foam green Nike high tops. Cool that are like 118 00:05:02,720 --> 00:05:04,520 Speaker 2: I think one hundred bucks, are over one hundred bucks 119 00:05:04,560 --> 00:05:07,640 Speaker 2: brand new, wow for kids shoes. She picked them up. Man, 120 00:05:07,680 --> 00:05:08,680 Speaker 2: they're basically brand new. 121 00:05:08,600 --> 00:05:09,440 Speaker 3: For eight dollars. 122 00:05:09,960 --> 00:05:10,719 Speaker 2: They're so cool. 123 00:05:11,000 --> 00:05:11,560 Speaker 3: I love them. 124 00:05:11,600 --> 00:05:13,839 Speaker 1: What parent in the right mind would spend I've put 125 00:05:13,920 --> 00:05:16,120 Speaker 1: three figures on shoes when your kid's gonna out grow them. 126 00:05:16,120 --> 00:05:18,479 Speaker 2: And like what we're saying, it's so all that to say, 127 00:05:18,480 --> 00:05:21,360 Speaker 2: I'm all for three stores. Man, we certainly need more 128 00:05:21,360 --> 00:05:22,000 Speaker 2: of that in our life. 129 00:05:22,080 --> 00:05:24,159 Speaker 1: And and I think it's good to teach your kid 130 00:05:24,600 --> 00:05:26,600 Speaker 1: to own it, like just be like, yeah, God, that's 131 00:05:26,640 --> 00:05:29,520 Speaker 1: the third store, and people people will show you mad 132 00:05:29,600 --> 00:05:32,400 Speaker 1: respect for that. All right, Matt, let's talk taxes. Tax 133 00:05:32,440 --> 00:05:34,560 Speaker 1: days almost here. We're gonna get to tariffs in just 134 00:05:34,600 --> 00:05:37,920 Speaker 1: a minute. But millions of Americans, including myself, haven't actually 135 00:05:38,120 --> 00:05:40,640 Speaker 1: filed yet. I think you just filed your taxes. 136 00:05:40,720 --> 00:05:41,120 Speaker 3: Storry. 137 00:05:41,279 --> 00:05:44,200 Speaker 1: No, they're still yeah, Okay, I've given you and I 138 00:05:44,200 --> 00:05:44,960 Speaker 1: are both included in this. 139 00:05:45,240 --> 00:05:49,480 Speaker 2: Yeah, I've give them my information weeks ago. They're just 140 00:05:49,640 --> 00:05:50,840 Speaker 2: I think they're pretty backed up. 141 00:05:51,080 --> 00:05:53,680 Speaker 1: I personally was waiting on a couple of last minute documents. 142 00:05:53,680 --> 00:05:56,880 Speaker 1: My last one didn't come till March twentieth, so I 143 00:05:56,920 --> 00:05:59,560 Speaker 1: was like, Okay, I might I might be filing an 144 00:05:59,560 --> 00:06:02,960 Speaker 1: extension actually, kind of like we talked about with Jasmine earlier. 145 00:06:03,080 --> 00:06:06,000 Speaker 1: This week, Well, the IRS reports that filings are down 146 00:06:06,120 --> 00:06:08,320 Speaker 1: this year compared to last year, which means tens of 147 00:06:08,320 --> 00:06:10,880 Speaker 1: millions of folks are in the same boat as we are, Matt. 148 00:06:10,880 --> 00:06:12,920 Speaker 1: They've got some work to do this weekend or next 149 00:06:12,960 --> 00:06:15,440 Speaker 1: if they really want to punt to the last minute. 150 00:06:16,040 --> 00:06:18,760 Speaker 1: One possible reason though, for this, is because millions of 151 00:06:18,800 --> 00:06:22,160 Speaker 1: folks live in an area impacted by a natural disaster 152 00:06:22,279 --> 00:06:25,360 Speaker 1: California by the wildfires. If you live in Los Angeles County, 153 00:06:25,520 --> 00:06:28,560 Speaker 1: there are parts of North Carolina, South Carolina, Georgia that 154 00:06:28,600 --> 00:06:33,160 Speaker 1: were impacted by Hurricane Helene. Those populations also have they 155 00:06:33,160 --> 00:06:35,080 Speaker 1: don't have to file until the fall, and they don't 156 00:06:35,080 --> 00:06:38,680 Speaker 1: incur a penalty by delaying. I think another reason, though, 157 00:06:39,000 --> 00:06:42,080 Speaker 1: is the greater complexity that people tend to face these 158 00:06:42,160 --> 00:06:45,440 Speaker 1: days in their taxes. Yes, there's the higher standard deduction, 159 00:06:46,000 --> 00:06:49,240 Speaker 1: but there's also a lot of side hustles and day trading, 160 00:06:49,839 --> 00:06:52,600 Speaker 1: just kind of investment schemes that people are participating in 161 00:06:52,680 --> 00:06:54,920 Speaker 1: as well, So I think that might be part of 162 00:06:54,960 --> 00:06:57,760 Speaker 1: the reason that some folks are waiting. It's like they 163 00:06:57,760 --> 00:06:59,240 Speaker 1: got to get all their documents in order, and it 164 00:06:59,240 --> 00:07:00,000 Speaker 1: takes a little more time. 165 00:07:00,000 --> 00:07:01,440 Speaker 2: These a lot of folks are trying to figure out 166 00:07:01,560 --> 00:07:03,719 Speaker 2: what documents they actually need to have in hand before 167 00:07:03,760 --> 00:07:05,680 Speaker 2: they can file as well. It's it's sort of like, yeah, 168 00:07:05,720 --> 00:07:08,279 Speaker 2: there's a learning curve, and you mentioned filing for an extension, 169 00:07:08,279 --> 00:07:11,880 Speaker 2: but that even if you do file for an extension, reminder, 170 00:07:11,960 --> 00:07:13,240 Speaker 2: that doesn't mean that you can. 171 00:07:13,120 --> 00:07:14,920 Speaker 3: Wait to pay your taxes. 172 00:07:15,000 --> 00:07:18,400 Speaker 2: If you owe, and if you can't afford to actually 173 00:07:18,440 --> 00:07:20,640 Speaker 2: pay your tax bill, we'll make sure to file anyway, 174 00:07:20,760 --> 00:07:23,360 Speaker 2: because yeah, failing to pay on time, that's gonna prompt 175 00:07:23,400 --> 00:07:26,600 Speaker 2: some stiff penalties. But so well, failing to actually file 176 00:07:27,200 --> 00:07:29,360 Speaker 2: two wrongs don't make it right here, at least do 177 00:07:29,440 --> 00:07:31,360 Speaker 2: one of them. By the way, there have been staff 178 00:07:31,400 --> 00:07:34,480 Speaker 2: cuts at the IRS, so it's a good idea as 179 00:07:34,520 --> 00:07:37,280 Speaker 2: always to file your return electronic. 180 00:07:37,400 --> 00:07:39,400 Speaker 1: I thought you're going to say, file a fraudlet return 181 00:07:39,440 --> 00:07:42,160 Speaker 1: that claims a lot of money back, because they're not now, 182 00:07:42,360 --> 00:07:43,360 Speaker 1: they're not going to catch you. 183 00:07:43,400 --> 00:07:46,680 Speaker 2: Actually, I think that's the advice that Joel's recommending Matts no, 184 00:07:46,760 --> 00:07:49,080 Speaker 2: but I am Matt's is not recommending that advice. 185 00:07:49,160 --> 00:07:51,560 Speaker 3: IRS go after Joel, You're angry emails to me. 186 00:07:52,480 --> 00:07:55,680 Speaker 2: But when you file electronically, the refunds are being processed 187 00:07:55,760 --> 00:07:58,640 Speaker 2: really quickly if you go that route. And some good 188 00:07:58,680 --> 00:08:01,960 Speaker 2: news I guess is that the average return I'm sorry, 189 00:08:02,080 --> 00:08:04,960 Speaker 2: refund is higher than it was last year. It's more 190 00:08:05,000 --> 00:08:08,600 Speaker 2: than thirty two hundred dollars. Make sure you use it wisely. 191 00:08:08,720 --> 00:08:13,360 Speaker 2: I'm optimistic that I might be receiving a refund. The 192 00:08:13,600 --> 00:08:17,240 Speaker 2: CPA theyccountant reached out and they said, hey, if you 193 00:08:17,280 --> 00:08:18,840 Speaker 2: get a refund, you want to go ahead and do 194 00:08:18,920 --> 00:08:22,200 Speaker 2: a direct deposit into the checking account ending and blah 195 00:08:22,200 --> 00:08:24,120 Speaker 2: blah blah blah. I was like, of course, just got 196 00:08:24,160 --> 00:08:26,280 Speaker 2: me thinking there's a chance, I mean not oh this year, 197 00:08:26,280 --> 00:08:28,400 Speaker 2: so it's good, all right? Well that yeah, that is fun, 198 00:08:28,520 --> 00:08:30,640 Speaker 2: although you dial it in pretty close, so if the 199 00:08:30,640 --> 00:08:33,000 Speaker 2: refund is probably going to be minimal, and that is 200 00:08:33,480 --> 00:08:36,920 Speaker 2: typically the best advice. But what well, I'm just yeah, yeah, 201 00:08:37,120 --> 00:08:39,959 Speaker 2: there's a reason though that I'm thinking that I might 202 00:08:40,000 --> 00:08:41,880 Speaker 2: ow a little bit more last year because I'd failed 203 00:08:41,880 --> 00:08:43,559 Speaker 2: to do some last year. Okay, now we won't get 204 00:08:43,559 --> 00:08:44,240 Speaker 2: into here on the show. 205 00:08:44,280 --> 00:08:47,400 Speaker 1: Okay, well, yeah, maybe people do a deep dive on 206 00:08:47,480 --> 00:08:50,720 Speaker 1: your taxis specifically at something, but yeah, the truth is 207 00:08:50,800 --> 00:08:55,160 Speaker 1: most people do get a refund, and that is kind 208 00:08:55,160 --> 00:08:58,560 Speaker 1: of it's like your once a year opportunity to make 209 00:08:58,600 --> 00:09:00,400 Speaker 1: a massive dent in your personal finances. Link to an 210 00:09:00,440 --> 00:09:03,200 Speaker 1: article in the show notes about how you can use 211 00:09:03,240 --> 00:09:04,480 Speaker 1: your tax refund wisely. 212 00:09:04,559 --> 00:09:05,240 Speaker 3: Check that out. 213 00:09:05,600 --> 00:09:07,840 Speaker 1: One tax and investing move you can still make, by 214 00:09:07,880 --> 00:09:11,600 Speaker 1: the way, even though it's twenty twenty five not twenty 215 00:09:11,600 --> 00:09:13,760 Speaker 1: twenty four, is to contribute to your roth IRA for 216 00:09:13,840 --> 00:09:17,600 Speaker 1: last year. It's one of those few things right that 217 00:09:17,640 --> 00:09:20,360 Speaker 1: you can still partake in from the prior year, and 218 00:09:20,400 --> 00:09:22,280 Speaker 1: you always want to fill up that bucket right before 219 00:09:22,280 --> 00:09:25,760 Speaker 1: you start contributing to your twenty twenty five roth. So 220 00:09:25,760 --> 00:09:27,520 Speaker 1: if you didn't fill it up and you feel you're 221 00:09:27,559 --> 00:09:29,360 Speaker 1: like I got some extra cash on hand, or I 222 00:09:29,840 --> 00:09:31,280 Speaker 1: know I'm going to get a big return, I want 223 00:09:31,280 --> 00:09:35,000 Speaker 1: to maximize my wrath from last year first, great, go 224 00:09:35,080 --> 00:09:37,760 Speaker 1: for it. And there was recent data from Boston College 225 00:09:37,760 --> 00:09:40,680 Speaker 1: which found that young folks are flocking to roth iras 226 00:09:40,720 --> 00:09:44,120 Speaker 1: in general, they're just kind of like console in Zoolander. 227 00:09:44,120 --> 00:09:46,480 Speaker 1: They're so hot right now. And we obviously we love 228 00:09:46,520 --> 00:09:48,800 Speaker 1: this map because it's not just that we're pumped to 229 00:09:48,800 --> 00:09:51,560 Speaker 1: see gen Z investing. We are, but also because if 230 00:09:51,600 --> 00:09:55,160 Speaker 1: you're in your twenties, your income is still likely ramping up. 231 00:09:55,200 --> 00:09:57,120 Speaker 1: You haven't reached those peak. 232 00:09:56,840 --> 00:09:58,120 Speaker 3: Earning years exactly. 233 00:09:58,200 --> 00:10:00,000 Speaker 1: So opting for the roth ira instead of a true 234 00:10:00,000 --> 00:10:03,800 Speaker 1: additional paying the tax now future you is going to 235 00:10:03,800 --> 00:10:06,640 Speaker 1: be so thankful. I just think about those earliest years 236 00:10:06,640 --> 00:10:09,280 Speaker 1: of working, how little I was making it, so every 237 00:10:09,320 --> 00:10:12,400 Speaker 1: dollar that went into the wrath was so dang smart 238 00:10:12,520 --> 00:10:16,560 Speaker 1: because my tax bill was almost non existent on the 239 00:10:16,559 --> 00:10:18,280 Speaker 1: money that I was sticking into my wrath. Yeah, I 240 00:10:18,280 --> 00:10:20,080 Speaker 1: was paying the tax now, but I was paying tax 241 00:10:20,120 --> 00:10:22,800 Speaker 1: at such a low rate. So young people in ROTHI RaSE, 242 00:10:22,920 --> 00:10:23,959 Speaker 1: they just go hand in hand. 243 00:10:24,200 --> 00:10:25,080 Speaker 3: That's right. 244 00:10:25,360 --> 00:10:27,600 Speaker 2: So did you watch the presidential address from the real 245 00:10:27,800 --> 00:10:29,559 Speaker 2: life this cost Wednesday? 246 00:10:29,679 --> 00:10:30,160 Speaker 3: I caught a. 247 00:10:30,160 --> 00:10:32,840 Speaker 1: Little bit where he held up the poster and which 248 00:10:32,880 --> 00:10:34,960 Speaker 1: is just kind of a fun image. 249 00:10:34,880 --> 00:10:37,760 Speaker 2: Kind of feels like giving a presentation like in school 250 00:10:37,800 --> 00:10:38,360 Speaker 2: sort of thing. 251 00:10:39,080 --> 00:10:40,520 Speaker 3: Surprise it wasn't on a trifle board. 252 00:10:41,440 --> 00:10:43,520 Speaker 2: That would have been the icing on the cake. Of course, 253 00:10:43,720 --> 00:10:46,840 Speaker 2: the President's continued belief that tariffs are the solution to 254 00:10:46,920 --> 00:10:50,960 Speaker 2: basically every human problem that continued with the announcement. 255 00:10:50,480 --> 00:10:51,360 Speaker 3: Of depress. 256 00:10:52,640 --> 00:10:56,480 Speaker 2: Array of widespread terrists. Man, the thing is, and we've 257 00:10:56,480 --> 00:10:59,200 Speaker 2: talked about this, this, this ramped up trade war is 258 00:10:59,240 --> 00:11:02,400 Speaker 2: going to harm everyone. American businesses. They're going to be 259 00:11:02,840 --> 00:11:08,360 Speaker 2: at a disadvantage internationally assuming there are reactionary tariffs and 260 00:11:08,400 --> 00:11:11,120 Speaker 2: they fail, generally speaking, to tak into account just many 261 00:11:11,480 --> 00:11:15,560 Speaker 2: classic economic realities like comparative advantage. Think about all the 262 00:11:15,600 --> 00:11:18,760 Speaker 2: things that are produced abroad in different countries where maybe 263 00:11:18,800 --> 00:11:23,880 Speaker 2: there's more affordable labor, a desire to produce pencils or 264 00:11:23,920 --> 00:11:26,920 Speaker 2: plastic cups, things that we don't necessarily want to produce. 265 00:11:26,679 --> 00:11:27,760 Speaker 3: Here in the United States. 266 00:11:27,840 --> 00:11:33,120 Speaker 1: Just try bringing banana and avocado production into the United States. 267 00:11:33,120 --> 00:11:36,000 Speaker 1: That's secilias parts tariffs on items that we can't even produce, 268 00:11:36,040 --> 00:11:39,520 Speaker 1: like coffee, for instance. Milton Friedman, he called terraffs a 269 00:11:39,760 --> 00:11:46,240 Speaker 1: protection against low prices, which, Man, we wholeheartedly agree. And 270 00:11:46,520 --> 00:11:49,320 Speaker 1: it's not surprising to see that consumers are already dialing 271 00:11:49,360 --> 00:11:53,040 Speaker 1: back their spending, at least their discretionary spending, increasing their savings. 272 00:11:53,360 --> 00:11:56,520 Speaker 1: They are quote unquote preparing for a rainy day, which 273 00:11:56,600 --> 00:11:59,160 Speaker 1: is smart because Yale Budget Labs they predict that the 274 00:11:59,200 --> 00:12:02,560 Speaker 1: average family will lose an extra three to four thousand 275 00:12:02,559 --> 00:12:05,319 Speaker 1: dollars in purchasing power. That's a lot of money, man 276 00:12:05,840 --> 00:12:06,640 Speaker 1: and cheap stuff. 277 00:12:06,640 --> 00:12:10,000 Speaker 2: It's not the only part of the American dream, but 278 00:12:10,120 --> 00:12:12,600 Speaker 2: it is not an inconsequential. 279 00:12:11,760 --> 00:12:12,559 Speaker 3: Part of it either. 280 00:12:12,960 --> 00:12:15,560 Speaker 2: And of course this is assuming that these terrors stick around, 281 00:12:15,600 --> 00:12:17,280 Speaker 2: right Like, there's a part of me that's just holding 282 00:12:17,280 --> 00:12:21,360 Speaker 2: my breath and waiting to see how long before these 283 00:12:21,360 --> 00:12:24,800 Speaker 2: are either walked back or other countries are where they 284 00:12:24,840 --> 00:12:26,320 Speaker 2: say that, hey, we don't want to play this game, 285 00:12:26,440 --> 00:12:30,440 Speaker 2: right like, this is the best case argument for terrists, 286 00:12:30,480 --> 00:12:34,240 Speaker 2: right where it's a political move where they're gonna blink first, 287 00:12:34,240 --> 00:12:37,959 Speaker 2: where they're not checking exactly yeah, where they're saying it's 288 00:12:37,960 --> 00:12:41,160 Speaker 2: almost it's like an economic nuclear war almost right where 289 00:12:41,400 --> 00:12:43,040 Speaker 2: it's like, all right, we've got these other countries and 290 00:12:43,080 --> 00:12:45,680 Speaker 2: they've maybe been poaching around the edges of the around 291 00:12:45,679 --> 00:12:47,280 Speaker 2: the border a little bit, but this is this is 292 00:12:47,320 --> 00:12:50,440 Speaker 2: an entirely different ball game, and hopefully we do see 293 00:12:50,480 --> 00:12:52,360 Speaker 2: some countries start to walk that back. 294 00:12:52,400 --> 00:12:53,480 Speaker 3: It's a tit for tat. 295 00:12:53,320 --> 00:12:57,160 Speaker 2: And we see terrafts significantly decrease over time. Like that's 296 00:12:57,440 --> 00:12:59,400 Speaker 2: I think the best case scenario, right, because you can't 297 00:12:59,600 --> 00:13:03,680 Speaker 2: in dust realize the country overnight, but you can say, oh, yeah, 298 00:13:03,679 --> 00:13:05,520 Speaker 2: we're not going to do those terraces anymore. That is 299 00:13:05,520 --> 00:13:06,480 Speaker 2: something that can happen over it. 300 00:13:06,520 --> 00:13:08,160 Speaker 1: And even if we did bring back some of that 301 00:13:08,240 --> 00:13:11,640 Speaker 1: industrial production that I think the White House is hoping for, 302 00:13:12,080 --> 00:13:14,439 Speaker 1: that doesn't necessarily mean low prices either, because can you 303 00:13:14,520 --> 00:13:16,800 Speaker 1: imagine how much it's going to cost to build the 304 00:13:16,840 --> 00:13:19,760 Speaker 1: factory and manufacture an iPhone here on US soil? 305 00:13:20,040 --> 00:13:21,920 Speaker 3: It's gonna be cheap. We have high wages here in 306 00:13:21,960 --> 00:13:22,680 Speaker 3: the US, which is. 307 00:13:22,679 --> 00:13:26,400 Speaker 1: Which is great, and we also have fairly inexpensive goods 308 00:13:26,440 --> 00:13:30,360 Speaker 1: because of free trade. The I think the attempt to 309 00:13:30,400 --> 00:13:33,400 Speaker 1: make free trade to demonize free trade. I get where 310 00:13:33,440 --> 00:13:36,439 Speaker 1: it comes from, but I think that it doesn't make 311 00:13:36,520 --> 00:13:38,920 Speaker 1: a whole lot of sense, and consumers are going to 312 00:13:39,160 --> 00:13:42,480 Speaker 1: feel the pinch pretty quickly on all sorts of goods 313 00:13:42,840 --> 00:13:45,839 Speaker 1: in not very long. And I do think that yeah, 314 00:13:45,880 --> 00:13:47,720 Speaker 1: we'll see. I mean, the stock market obviously didn't react 315 00:13:47,760 --> 00:13:49,400 Speaker 1: well yesterday. 316 00:13:48,960 --> 00:13:50,160 Speaker 3: It reacted immediately. 317 00:13:50,280 --> 00:13:52,840 Speaker 1: Yeah, yeah, Whereas I don't know that I've ever seen 318 00:13:52,880 --> 00:13:54,679 Speaker 1: that steep of a drop in that short amount of time. 319 00:13:54,760 --> 00:13:58,360 Speaker 1: Oh do you remember COVID? Was there a was there 320 00:13:58,400 --> 00:14:01,439 Speaker 1: a ten hour blip? Where where atual dropping my quiver. 321 00:14:01,280 --> 00:14:04,040 Speaker 2: Once it was announced as like a global health crisis 322 00:14:04,840 --> 00:14:07,520 Speaker 2: in an actual pandemic, and thinks Scott freaky real quick, Hey, yeah, 323 00:14:07,520 --> 00:14:09,920 Speaker 2: that's true either way. I think everyone is praying for 324 00:14:09,960 --> 00:14:12,199 Speaker 2: tariff de escalation essentially is what it is what I'm 325 00:14:12,200 --> 00:14:12,520 Speaker 2: happened for. 326 00:14:12,600 --> 00:14:15,480 Speaker 1: I agree, and we will continue to monitor, keep our 327 00:14:15,480 --> 00:14:17,559 Speaker 1: finger on the tariff pulse as it were tariff def 328 00:14:17,600 --> 00:14:20,280 Speaker 1: con you know, like we're up to three. 329 00:14:20,440 --> 00:14:23,040 Speaker 2: Four Yeah, I don't know, it's backwards like it's it 330 00:14:23,040 --> 00:14:24,720 Speaker 2: feels like we're at two right now, Like it's it's 331 00:14:24,760 --> 00:14:27,160 Speaker 2: actually about to seriously impact the globe and hopefully we 332 00:14:27,160 --> 00:14:28,000 Speaker 2: can back that thing down. 333 00:14:28,000 --> 00:14:30,880 Speaker 1: The announcement was like a tariff flinking, like certain for 334 00:14:30,920 --> 00:14:33,160 Speaker 1: sure and then and so I think, yeah, tariff vigilance 335 00:14:33,280 --> 00:14:36,200 Speaker 1: on baff of individuals, it's more it's more of a 336 00:14:36,240 --> 00:14:40,160 Speaker 1: necessity right now right and UPS is making it easier 337 00:14:40,160 --> 00:14:42,680 Speaker 1: to see the impact of tariffs on your purchases as 338 00:14:42,680 --> 00:14:46,440 Speaker 1: they're becoming more widespread, more international deliveries are coming with 339 00:14:46,480 --> 00:14:50,480 Speaker 1: like an unexpected bill attached for unpaid import costs, and 340 00:14:50,560 --> 00:14:53,080 Speaker 1: so UPS has this new global checkout that they that 341 00:14:53,120 --> 00:14:56,080 Speaker 1: they launched, and it's automatically adding the cost of tariffs 342 00:14:56,120 --> 00:14:59,640 Speaker 1: in for shoppers buying from overseas companies who are subject 343 00:14:59,680 --> 00:15:01,920 Speaker 1: to TERRF, which is going to be more necessary right now, 344 00:15:02,000 --> 00:15:03,520 Speaker 1: Like it's going to be really frustrating to get a 345 00:15:03,520 --> 00:15:05,480 Speaker 1: bill after the fact if you bought the thing and 346 00:15:05,520 --> 00:15:08,000 Speaker 1: you didn't realize that there was a tariff attached that 347 00:15:08,480 --> 00:15:12,080 Speaker 1: for some reason wasn't paid for by the company sending 348 00:15:12,120 --> 00:15:14,520 Speaker 1: the good into the United States. And so, you know, 349 00:15:14,520 --> 00:15:17,040 Speaker 1: we wish this solution wasn't necessary because that would mean 350 00:15:17,080 --> 00:15:21,240 Speaker 1: that tariffs weren't a reality in the way they're currently existing. 351 00:15:21,720 --> 00:15:23,200 Speaker 1: But it's I don't know, kind of cool that there's 352 00:15:23,200 --> 00:15:26,239 Speaker 1: some transparency on that front, sure, and more needed transparency. 353 00:15:26,240 --> 00:15:27,680 Speaker 1: By the way, one thing we didn't really talk about 354 00:15:27,720 --> 00:15:30,360 Speaker 1: on Tariff's Matt is that this is also going to 355 00:15:30,400 --> 00:15:33,360 Speaker 1: impact American companies sending goods to other countries if there 356 00:15:33,360 --> 00:15:34,800 Speaker 1: are retaliatory tariffs. 357 00:15:34,800 --> 00:15:36,640 Speaker 2: So, oh yeah, I mentioned the reactionary tariffs. 358 00:15:36,680 --> 00:15:38,680 Speaker 1: It's like to complay at that game. Well, that's why 359 00:15:38,720 --> 00:15:40,800 Speaker 1: we're doing it. But then yeah, when you think, just 360 00:15:40,800 --> 00:15:42,720 Speaker 1: think about what that's going to do to American businesses 361 00:15:42,760 --> 00:15:44,680 Speaker 1: who send a lot of goods overseas. 362 00:15:44,840 --> 00:15:47,720 Speaker 2: Yeah, Well, as prices go up, that means we as 363 00:15:47,760 --> 00:15:49,920 Speaker 2: consumers need to pay a little bit more attention to 364 00:15:49,960 --> 00:15:52,840 Speaker 2: our personal spending. And we've been saying this for quite 365 00:15:52,840 --> 00:15:55,600 Speaker 2: some time because of inflation. But Bloomberg they just published 366 00:15:55,640 --> 00:15:59,120 Speaker 2: a piece about the importance of individual action to cut 367 00:15:59,160 --> 00:16:03,240 Speaker 2: down on your own rate of inflation. And I think 368 00:16:03,520 --> 00:16:06,200 Speaker 2: depending on how you view the world, maybe the side 369 00:16:06,240 --> 00:16:08,000 Speaker 2: of the political aisle that you're on, it can be 370 00:16:08,080 --> 00:16:10,480 Speaker 2: tempting just to throw your hands up and just talk 371 00:16:10,520 --> 00:16:13,680 Speaker 2: smack about our elected officials, and there is certainly a 372 00:16:13,680 --> 00:16:16,520 Speaker 2: time and place for that. But it's also really important 373 00:16:16,640 --> 00:16:19,600 Speaker 2: to remember that despite policy changes that we have no 374 00:16:19,800 --> 00:16:23,040 Speaker 2: control over, there is still a lot that we actually 375 00:16:23,120 --> 00:16:26,360 Speaker 2: do have control over. And so the moral of this 376 00:16:26,520 --> 00:16:29,560 Speaker 2: article is pretty simple, which is to shop around. And 377 00:16:29,640 --> 00:16:32,080 Speaker 2: I can see no better way to cut your spending 378 00:16:32,120 --> 00:16:33,920 Speaker 2: the spend more time about the Thristorgel. 379 00:16:34,200 --> 00:16:36,040 Speaker 1: Yeah, yeah, that's a good point. Like I think there 380 00:16:36,080 --> 00:16:37,960 Speaker 1: are some ways in which we're just gonna grin and 381 00:16:37,960 --> 00:16:39,520 Speaker 1: bear it. We're just gonna take it on the chin 382 00:16:39,600 --> 00:16:42,920 Speaker 1: because there are necessary items that we can't afford to 383 00:16:42,960 --> 00:16:43,560 Speaker 1: not purchase. 384 00:16:44,040 --> 00:16:44,800 Speaker 3: And then I think. 385 00:16:44,640 --> 00:16:47,120 Speaker 1: There are other ways in which we Companies are going 386 00:16:47,160 --> 00:16:48,840 Speaker 1: to be doing the same thing. Right, They're gonna be 387 00:16:48,840 --> 00:16:51,840 Speaker 1: pivoting to where they source their goods from, and we 388 00:16:51,920 --> 00:16:54,040 Speaker 1: can do the same as individuals. We can pivot to 389 00:16:54,080 --> 00:16:58,600 Speaker 1: where we're buying from, and yeah, buying secondhand, keeping some 390 00:16:58,680 --> 00:17:01,480 Speaker 1: things around longer become a necessity for some folks. It 391 00:17:01,560 --> 00:17:04,000 Speaker 1: might just be a savvy way for people to save 392 00:17:04,040 --> 00:17:05,080 Speaker 1: more as individuals too. 393 00:17:05,520 --> 00:17:07,919 Speaker 2: Even just bringing up the pandemic, it reminds me of 394 00:17:07,960 --> 00:17:09,840 Speaker 2: how different our world is now from just a few 395 00:17:09,840 --> 00:17:14,119 Speaker 2: short years ago. We've seen just incredible changes to interest rates, 396 00:17:14,240 --> 00:17:17,680 Speaker 2: to housing costs, to inflation, basically to everything. And we 397 00:17:17,720 --> 00:17:20,760 Speaker 2: all remember the increased power that fell into the hands 398 00:17:20,840 --> 00:17:23,720 Speaker 2: of job seekers back a couple of years ago, like 399 00:17:23,760 --> 00:17:26,840 Speaker 2: back in twenty twenty two, twenty twenty three. Well, now 400 00:17:26,840 --> 00:17:28,640 Speaker 2: there are some stats that are showing that many job 401 00:17:28,640 --> 00:17:34,080 Speaker 2: seekers are experiencing wage deflation. More companies are hesitant to 402 00:17:34,119 --> 00:17:36,959 Speaker 2: make new hires, which means job switching is not going 403 00:17:37,040 --> 00:17:39,159 Speaker 2: to net you any more pay and in fact, it 404 00:17:39,240 --> 00:17:41,760 Speaker 2: might even net you less pay for you to go 405 00:17:41,840 --> 00:17:45,040 Speaker 2: with a new company these days as opposed to staying put. 406 00:17:45,080 --> 00:17:47,600 Speaker 2: So this is not a hard and fast rule, obviously, 407 00:17:47,640 --> 00:17:49,800 Speaker 2: but we a couple of weeks ago, we recently talked 408 00:17:49,800 --> 00:17:52,680 Speaker 2: about getting the job you want with Madeline Mann, and 409 00:17:52,720 --> 00:17:55,080 Speaker 2: so if that's not an episode that you happen to catch, 410 00:17:55,240 --> 00:17:57,000 Speaker 2: we'd recommend going back and checking that one out. 411 00:17:57,080 --> 00:18:01,159 Speaker 1: Yeah, getting higher pay by whopping or moving to a 412 00:18:01,160 --> 00:18:03,040 Speaker 1: different job. It was like shooting fish in a barrel 413 00:18:03,080 --> 00:18:06,000 Speaker 1: in twenty twenty two, and we heard from so many 414 00:18:06,040 --> 00:18:08,800 Speaker 1: listeners right who made out like bandits during that time. 415 00:18:09,000 --> 00:18:11,240 Speaker 1: They're getting a sick raise right while the getting was good, 416 00:18:11,520 --> 00:18:13,400 Speaker 1: And I think part of that was just people took 417 00:18:13,440 --> 00:18:14,840 Speaker 1: the stimu money. Andy said, I'm not going to work 418 00:18:14,880 --> 00:18:17,320 Speaker 1: as much these days, and so there was just a constraint, 419 00:18:17,800 --> 00:18:21,119 Speaker 1: a lack of supply of workers that to do to 420 00:18:21,160 --> 00:18:23,160 Speaker 1: fill some of those jobs that employers needed. And there 421 00:18:23,160 --> 00:18:25,600 Speaker 1: was also people were buying more stuff and so like 422 00:18:25,600 --> 00:18:28,440 Speaker 1: the economy was humming and that shortage of workers just man, 423 00:18:28,480 --> 00:18:30,439 Speaker 1: that power in your hands felt so good. But there 424 00:18:30,480 --> 00:18:33,000 Speaker 1: was just no way the post COVID job market could 425 00:18:33,080 --> 00:18:36,359 Speaker 1: last forever, and so it's it's obviously not impossible, but 426 00:18:36,400 --> 00:18:37,879 Speaker 1: it's just going to be more difficult to pull that 427 00:18:37,960 --> 00:18:40,119 Speaker 1: off in today's job climate, to get that heist of 428 00:18:40,160 --> 00:18:42,320 Speaker 1: like a thirty percent raise that you were able to 429 00:18:42,359 --> 00:18:44,760 Speaker 1: get a few years back. And and sadly, Matt, there 430 00:18:44,840 --> 00:18:47,600 Speaker 1: was recent stats too, we're seeing higher levels of unemployment 431 00:18:47,920 --> 00:18:51,800 Speaker 1: for gen Zers, especially when compared to their millennial counterparts. 432 00:18:51,840 --> 00:18:54,080 Speaker 1: And you know, gen Z, it might I think they 433 00:18:54,160 --> 00:18:57,439 Speaker 1: might be going through something similar to what millennials went 434 00:18:57,480 --> 00:18:59,840 Speaker 1: through in the Great Recession, not quite as bad, but 435 00:19:00,720 --> 00:19:03,679 Speaker 1: at least ikin to kind of what millennials experience. Some 436 00:19:03,760 --> 00:19:07,160 Speaker 1: are calling this a gen Z job recession. I don't 437 00:19:07,160 --> 00:19:09,119 Speaker 1: know if it's quite that bad yet, but you know, 438 00:19:09,200 --> 00:19:12,040 Speaker 1: in a tighter job market, with more competition and less 439 00:19:12,119 --> 00:19:15,800 Speaker 1: ability to increase your income and then kind of tremors 440 00:19:15,800 --> 00:19:19,480 Speaker 1: of a recession potential, it's even more I think important 441 00:19:19,520 --> 00:19:22,159 Speaker 1: to tend to your network and to have solid personal 442 00:19:22,200 --> 00:19:25,520 Speaker 1: finance hygiene. Both those things in combo are going to 443 00:19:25,560 --> 00:19:28,320 Speaker 1: help you be more resilient given whatever comes down the line. 444 00:19:28,400 --> 00:19:30,160 Speaker 2: All right, we've got more to get to During our 445 00:19:30,200 --> 00:19:33,560 Speaker 2: Friday flight today, we might even talk about Joe, how 446 00:19:33,600 --> 00:19:36,280 Speaker 2: gorillas might be able to save you money every single month. 447 00:19:36,359 --> 00:19:46,159 Speaker 3: We'll get to that more right after this. All right, 448 00:19:46,160 --> 00:19:48,760 Speaker 3: we're back, Matt, Gorillas. You got me on the edge 449 00:19:48,760 --> 00:19:49,160 Speaker 3: of my seat. 450 00:19:49,760 --> 00:19:52,840 Speaker 2: Maybe I wasn't being entirely truthful there when it came 451 00:19:52,880 --> 00:19:55,120 Speaker 2: to that teas That's why it's called a teas though, 452 00:19:55,160 --> 00:19:55,480 Speaker 2: and not. 453 00:19:56,119 --> 00:19:56,840 Speaker 3: The actual story. 454 00:19:56,880 --> 00:19:58,600 Speaker 1: That's right, let me do that in a second. Let's 455 00:19:58,600 --> 00:20:00,960 Speaker 1: get to the ludacrous headline of the though. This It 456 00:20:01,000 --> 00:20:03,119 Speaker 1: comes from the Wall Street Journal, and it reads feeling 457 00:20:03,200 --> 00:20:06,240 Speaker 1: ripped off by one thousand dollars phones. The secondhand market 458 00:20:06,440 --> 00:20:10,199 Speaker 1: is taking off. And yes, yes, Matt, I personally am 459 00:20:10,320 --> 00:20:13,639 Speaker 1: offended and taken particularly ripped off by how expensive these 460 00:20:13,680 --> 00:20:16,800 Speaker 1: phones have gotten. I'm on a new phone buyer strike. 461 00:20:16,920 --> 00:20:19,480 Speaker 1: I'm on a mission to make mine last as long 462 00:20:19,520 --> 00:20:20,480 Speaker 1: as humanly possible. 463 00:20:20,640 --> 00:20:22,199 Speaker 3: You know what? You can do that with an iPhone. 464 00:20:22,240 --> 00:20:24,360 Speaker 2: That's because the bill quality is so much better. You've 465 00:20:24,359 --> 00:20:25,600 Speaker 2: got to admit that at this point. 466 00:20:25,640 --> 00:20:26,040 Speaker 3: You're right. 467 00:20:26,080 --> 00:20:27,639 Speaker 1: And the other thing, and that we've talked about this 468 00:20:27,680 --> 00:20:31,080 Speaker 1: before on the show, is that iPhone Apple supports their 469 00:20:31,119 --> 00:20:34,080 Speaker 1: phones longer than Android does then Google does. Right, So 470 00:20:34,600 --> 00:20:37,240 Speaker 1: just the fact that. Like, my daughter has an iPhone 471 00:20:37,240 --> 00:20:39,600 Speaker 1: seven that was gifted tour by her grandma that we 472 00:20:39,680 --> 00:20:42,359 Speaker 1: keep at home. She barely uses, but they just stop 473 00:20:42,400 --> 00:20:45,520 Speaker 1: supporting that at the end of the last year. Yeah, 474 00:20:45,680 --> 00:20:48,120 Speaker 1: so it's one of those things where they finally bricked it. 475 00:20:48,280 --> 00:20:50,359 Speaker 3: That's a seven. Think about how long ago that was 476 00:20:50,400 --> 00:20:52,120 Speaker 3: that came out. I don't even know when nothing came out. 477 00:20:52,119 --> 00:20:54,280 Speaker 1: Probably eight or nine years ago, is my guess. That's amazing, right, 478 00:20:54,600 --> 00:20:57,680 Speaker 1: So yeah, but I will say this, I think a 479 00:20:57,680 --> 00:20:59,440 Speaker 1: lot of people are going on new phone buyer strikes. 480 00:20:59,520 --> 00:21:01,520 Speaker 1: You can you can see that in kind of the 481 00:21:01,560 --> 00:21:04,120 Speaker 1: age of the average handset that the people have. 482 00:21:05,240 --> 00:21:08,800 Speaker 2: Phones are the new car. They're only getting older and 483 00:21:08,800 --> 00:21:10,280 Speaker 2: older the ones that are out there on the road. 484 00:21:10,359 --> 00:21:12,560 Speaker 2: And in a similar way, yeah, maybe we should be 485 00:21:12,600 --> 00:21:15,960 Speaker 2: considering used phones, just like we consider used cars. 486 00:21:15,760 --> 00:21:16,120 Speaker 3: All the time. 487 00:21:16,160 --> 00:21:18,960 Speaker 1: Maybe a secondhand phone, right. I love that because especially 488 00:21:18,960 --> 00:21:21,600 Speaker 1: it's like the flagship prices have gone up, the budget 489 00:21:21,600 --> 00:21:24,040 Speaker 1: devices have also gone up. We talked about that when 490 00:21:24,080 --> 00:21:28,040 Speaker 1: iPhone Apple announced excuse me, the sixteen E, right, and 491 00:21:28,080 --> 00:21:29,760 Speaker 1: it's like that was way more expensive than the Esse 492 00:21:30,080 --> 00:21:32,400 Speaker 1: that they had released as a budget phone. So quote 493 00:21:32,440 --> 00:21:35,360 Speaker 1: unquote budget it's a six hundred dollars phone, right, It's 494 00:21:35,400 --> 00:21:37,479 Speaker 1: not a budget phone anymore. They used to be three 495 00:21:37,560 --> 00:21:39,199 Speaker 1: fifty to four hundred bucks, which is why I used 496 00:21:39,200 --> 00:21:42,280 Speaker 1: to go with the pixel versions, the dumbed down pixel versions, 497 00:21:42,280 --> 00:21:44,639 Speaker 1: because they were really good and they were like three fifty. 498 00:21:45,040 --> 00:21:47,520 Speaker 1: But that's not the case anymore. And so yeah, I 499 00:21:47,560 --> 00:21:49,199 Speaker 1: love to see that the people are holding onto their 500 00:21:49,240 --> 00:21:51,800 Speaker 1: phones alonger especially we talk about the lack of innovation, 501 00:21:52,600 --> 00:21:54,919 Speaker 1: although there's a counter argument that coming in a second. 502 00:21:55,160 --> 00:21:57,720 Speaker 1: In the cell phone space, that's another reason just to 503 00:21:57,840 --> 00:22:00,719 Speaker 1: not upgrade, especially when I'm hearing all the bad reviews 504 00:22:00,760 --> 00:22:03,720 Speaker 1: about Apple's AI in their newest hands It's like, it's 505 00:22:03,760 --> 00:22:07,600 Speaker 1: not that great, it's it's over it's overblown, and so 506 00:22:07,760 --> 00:22:10,680 Speaker 1: you probably don't need that either. So paying instead of 507 00:22:10,680 --> 00:22:12,760 Speaker 1: paying I guess twelve hundred bucks for the newest iPhone, 508 00:22:12,880 --> 00:22:15,800 Speaker 1: you can get something of almost equal ability, like the 509 00:22:15,960 --> 00:22:18,040 Speaker 1: iPhone fourteen or something like that. Go back a couple 510 00:22:18,440 --> 00:22:21,440 Speaker 1: generations and you can get that for like five hundred 511 00:22:21,480 --> 00:22:23,960 Speaker 1: bucks instead. I was even I was seeing some refer 512 00:22:24,040 --> 00:22:28,480 Speaker 1: models on Woot for roughly that price, and yeah, less 513 00:22:28,480 --> 00:22:30,440 Speaker 1: than half price. I'm that's what I want to sign up. 514 00:22:30,359 --> 00:22:32,720 Speaker 2: For Well, yeah, I mean that's big, specifically because offers 515 00:22:32,760 --> 00:22:35,040 Speaker 2: a three hundred and sixty five day repair or replace 516 00:22:35,119 --> 00:22:39,480 Speaker 2: warranty on the referred phones that they sell. I made 517 00:22:39,480 --> 00:22:42,680 Speaker 2: the mistake of purchasing a REFERB a refurbished I don't 518 00:22:42,720 --> 00:22:46,560 Speaker 2: like seeing referb. That's a weird word. Refurbished that sounds 519 00:22:46,600 --> 00:22:49,240 Speaker 2: way better a refurbished phone from eBay, And they did 520 00:22:49,280 --> 00:22:53,160 Speaker 2: not it's not I mean it was presented. It wasn't 521 00:22:53,560 --> 00:22:56,879 Speaker 2: presented as a refurbished phone, so that's the problem. And 522 00:22:56,920 --> 00:22:59,320 Speaker 2: then they're making repairs to it and they're not watertight 523 00:22:59,520 --> 00:23:03,960 Speaker 2: as opposed to buying a truly refurbished phone from let's 524 00:23:04,000 --> 00:23:06,600 Speaker 2: say Apple, where it still has a one year warranty 525 00:23:06,760 --> 00:23:09,520 Speaker 2: and it's up to factory standards, and that's that's a 526 00:23:09,520 --> 00:23:10,080 Speaker 2: good price. 527 00:23:10,160 --> 00:23:13,080 Speaker 1: The battery too. They do additional things to their refurb phones. 528 00:23:13,840 --> 00:23:15,560 Speaker 1: But then again, the price you're gonna pay for a 529 00:23:15,600 --> 00:23:17,639 Speaker 1: reper phone and Apple versus a place like woo it 530 00:23:17,680 --> 00:23:19,880 Speaker 1: is gonna be a gonna be expensive. But I also 531 00:23:19,920 --> 00:23:22,320 Speaker 1: like the idea of having a Dummer phone to just 532 00:23:22,400 --> 00:23:25,520 Speaker 1: prevent me from becoming my own worst enemy, doom scrolling 533 00:23:25,600 --> 00:23:29,200 Speaker 1: until I die. Basically, I wanted to mention the light 534 00:23:29,400 --> 00:23:31,840 Speaker 1: Phone that's been a good option on that front, and 535 00:23:31,880 --> 00:23:33,359 Speaker 1: they just released this new. 536 00:23:33,240 --> 00:23:36,880 Speaker 2: Model this past week. It too, is way overpriced at 537 00:23:36,960 --> 00:23:39,720 Speaker 2: eight hundred dollars. I think for a limited time they're 538 00:23:39,760 --> 00:23:42,040 Speaker 2: offering it for six for six hundred bucks. But on 539 00:23:42,080 --> 00:23:45,800 Speaker 2: top of that, the company's proprietary service, like the plan, well, 540 00:23:45,840 --> 00:23:48,960 Speaker 2: it costs you thirty dollars a month, not surprising you 541 00:23:49,040 --> 00:23:50,680 Speaker 2: only get one gig of data because that's all it 542 00:23:50,680 --> 00:23:54,080 Speaker 2: probably takes to run a light phone. But even thirty 543 00:23:54,119 --> 00:23:56,320 Speaker 2: dollars a month, man, that's way more than what it 544 00:23:56,400 --> 00:23:58,159 Speaker 2: is that you and I are spending. Like I am 545 00:23:58,200 --> 00:24:02,080 Speaker 2: all for a limiting tech to live more IRL life, 546 00:24:02,359 --> 00:24:04,959 Speaker 2: but not at that price point. If you're gonna pay that, 547 00:24:05,000 --> 00:24:06,359 Speaker 2: if you want a dumb phone, just go back and 548 00:24:06,359 --> 00:24:07,360 Speaker 2: get a basic flip phone. 549 00:24:07,480 --> 00:24:07,840 Speaker 3: Exactly. 550 00:24:08,240 --> 00:24:09,879 Speaker 2: It feels like light Phone is jumped the shark with 551 00:24:09,920 --> 00:24:13,680 Speaker 2: this pricing, and it just highlights how there aren't new 552 00:24:13,880 --> 00:24:16,560 Speaker 2: products that are needed to solve old problems, right. It's 553 00:24:16,600 --> 00:24:17,960 Speaker 2: just like, oh, I got this problem, whe I'm on 554 00:24:18,000 --> 00:24:21,320 Speaker 2: my phone. Oh instead, I need this new, shiny, sexy 555 00:24:21,400 --> 00:24:23,760 Speaker 2: product that's going to solve this old problem as opposed 556 00:24:23,760 --> 00:24:25,720 Speaker 2: to kind of going back to what it was like 557 00:24:25,840 --> 00:24:28,200 Speaker 2: before you had that problem, which is an older phone, 558 00:24:28,600 --> 00:24:32,200 Speaker 2: or even just limiting. Honestly, it reminds me of folks 559 00:24:32,200 --> 00:24:35,679 Speaker 2: who are wanting to go for more the minimalist lifestyle 560 00:24:35,920 --> 00:24:39,399 Speaker 2: or clothing aesthetic, and they think, oh, I need to 561 00:24:39,400 --> 00:24:41,280 Speaker 2: buy I need to go with one of those companies 562 00:24:41,320 --> 00:24:43,800 Speaker 2: that sells all them kind of minimalist looking clothes, you know, 563 00:24:43,800 --> 00:24:47,680 Speaker 2: where everything's like solid colors and colors aren't very vibrant, 564 00:24:47,680 --> 00:24:51,760 Speaker 2: and stripes the occasional stripe. But you don't have to 565 00:24:51,760 --> 00:24:54,399 Speaker 2: do that. All you need to do is first toss 566 00:24:54,400 --> 00:24:56,760 Speaker 2: out half the clothes in your actual closet, find the 567 00:24:56,800 --> 00:24:59,560 Speaker 2: items that you love the most that you compare with 568 00:24:59,640 --> 00:25:03,240 Speaker 2: lots of other clothes. Boom, you've got yourself a capsule wardrobe. 569 00:25:03,240 --> 00:25:04,280 Speaker 2: That's what that's called. 570 00:25:04,160 --> 00:25:04,840 Speaker 3: You no longer. 571 00:25:04,880 --> 00:25:06,680 Speaker 2: You don't have to go out and buy an entirely 572 00:25:06,720 --> 00:25:08,639 Speaker 2: new product. In a similar way, I think there's a 573 00:25:08,640 --> 00:25:10,000 Speaker 2: way that you can do that when it comes to 574 00:25:10,040 --> 00:25:13,320 Speaker 2: technology like your phone. I, for lent, I gave up 575 00:25:13,400 --> 00:25:17,560 Speaker 2: social media, specifically Instagram, because I didn't like how much 576 00:25:17,560 --> 00:25:19,720 Speaker 2: time that that was draining out of my life. 577 00:25:19,840 --> 00:25:20,280 Speaker 3: I guess why. 578 00:25:20,440 --> 00:25:21,840 Speaker 2: What I don't need to do is go out and 579 00:25:21,840 --> 00:25:25,400 Speaker 2: buy the dollar phone app. You just delete the app, 580 00:25:25,520 --> 00:25:28,399 Speaker 2: and I think it's something I'm actually hopefully going to 581 00:25:28,400 --> 00:25:32,120 Speaker 2: be able to maintain even after the litten season. But yeah, 582 00:25:32,359 --> 00:25:34,160 Speaker 2: you don't need to spend money to solve your problems. 583 00:25:34,320 --> 00:25:36,840 Speaker 1: You make a great point. Well, let's talk about gorillas though, Matt, 584 00:25:36,920 --> 00:25:38,480 Speaker 1: you you hinted at this. Do you want to talk 585 00:25:38,480 --> 00:25:38,760 Speaker 1: about it? 586 00:25:38,760 --> 00:25:41,119 Speaker 2: I feel a little bad about the gorilla. It was 587 00:25:41,119 --> 00:25:42,120 Speaker 2: a gorilla glass. 588 00:25:42,240 --> 00:25:46,919 Speaker 1: Yeah, okay, why don't you tell us about how apples 589 00:25:47,119 --> 00:25:50,959 Speaker 1: like all. The one thing that Apple has done incredibly 590 00:25:50,960 --> 00:25:55,080 Speaker 1: well is work with Corning to innovate on glass, which 591 00:25:55,080 --> 00:25:56,879 Speaker 1: has been great for your iPhones. It means that you 592 00:25:56,880 --> 00:25:58,879 Speaker 1: know the iPhone you got when when was it starting 593 00:25:58,920 --> 00:26:02,479 Speaker 1: with the twelve or thirteen that the more unbreakable glass 594 00:26:02,560 --> 00:26:03,520 Speaker 1: kind of came into being. 595 00:26:03,640 --> 00:26:05,719 Speaker 2: Yeah, so the glass was always the gorilla glass, I'm 596 00:26:05,720 --> 00:26:07,359 Speaker 2: pretty sure from the beginning. But yeah, starting with the 597 00:26:07,359 --> 00:26:10,040 Speaker 2: twelve is when they did the ceramic shield, Like that 598 00:26:10,160 --> 00:26:11,440 Speaker 2: was like the next level. 599 00:26:11,280 --> 00:26:14,080 Speaker 3: Of hard glass. So now it's like harder. 600 00:26:13,960 --> 00:26:16,880 Speaker 2: It's even harder exactly, So basically what I'm saying here 601 00:26:16,880 --> 00:26:19,560 Speaker 2: from a phone standpoint. Personally, at least I wouldn't go 602 00:26:19,680 --> 00:26:22,040 Speaker 2: past anything older than a twelve. But hey, if you do, 603 00:26:22,080 --> 00:26:23,800 Speaker 2: I bet you would be able to get a really 604 00:26:23,840 --> 00:26:27,280 Speaker 2: sick deal. But when it comes to home improvements, the 605 00:26:27,920 --> 00:26:30,240 Speaker 2: hard glass that's out there is being translated to new 606 00:26:30,280 --> 00:26:34,159 Speaker 2: windows for your home, which could save Americans billions of 607 00:26:34,200 --> 00:26:38,560 Speaker 2: dollars annually on energy costs. These new windows, they now 608 00:26:38,600 --> 00:26:43,800 Speaker 2: have a better installation value than your walls, which is crazy. Like, 609 00:26:43,800 --> 00:26:47,720 Speaker 2: typically windows are the it's like the weakest link when 610 00:26:47,720 --> 00:26:48,520 Speaker 2: it comes to energy lost. 611 00:26:48,520 --> 00:26:50,600 Speaker 1: They're like at least twenty percent worse than your walls. 612 00:26:50,640 --> 00:26:54,000 Speaker 1: But the windows we've got here in our little studio 613 00:26:54,040 --> 00:26:56,000 Speaker 1: clubhouse thing, Matt, they're probably much worse than that. 614 00:26:56,040 --> 00:26:56,760 Speaker 3: It's amazing. 615 00:26:57,000 --> 00:26:58,639 Speaker 2: This is the kind of progress that's going to have 616 00:26:58,760 --> 00:27:02,320 Speaker 2: major ramifications on new builds window replacement jobs in the 617 00:27:02,359 --> 00:27:04,280 Speaker 2: coming years, and it's just going to be able to 618 00:27:04,320 --> 00:27:06,680 Speaker 2: save individuals a lot of money due to the fact 619 00:27:06,680 --> 00:27:09,040 Speaker 2: that they're spending much less on heating and cooling their homes. 620 00:27:09,440 --> 00:27:12,840 Speaker 1: That sort of progress gets me really excited, especially when 621 00:27:12,880 --> 00:27:15,680 Speaker 1: we talk about the potential for energy shortages, which I 622 00:27:15,720 --> 00:27:18,760 Speaker 1: think have been overblown. But when we talk about just 623 00:27:18,880 --> 00:27:23,960 Speaker 1: making things far more efficient and retrofitting buildings to ensure 624 00:27:24,000 --> 00:27:28,080 Speaker 1: that they reduce energy loss, that is a huge bright spot. 625 00:27:27,840 --> 00:27:28,320 Speaker 3: In the future. 626 00:27:28,320 --> 00:27:31,520 Speaker 1: And seeing that like innovation in windows, that's something like 627 00:27:31,800 --> 00:27:34,480 Speaker 1: I wasn't really thinking much about, and then you read 628 00:27:34,520 --> 00:27:36,160 Speaker 1: about that and you're like, holy crap, Like that could 629 00:27:36,160 --> 00:27:38,880 Speaker 1: have such a massive impact as people do over time 630 00:27:39,000 --> 00:27:41,679 Speaker 1: replace crummy old windows and they put in not just 631 00:27:41,680 --> 00:27:45,160 Speaker 1: slightly better, but significantly better windows that could ruce your 632 00:27:45,320 --> 00:27:47,520 Speaker 1: energy build by quite a bit. All right, let's talk 633 00:27:47,520 --> 00:27:52,600 Speaker 1: about your favorites investing firm Matt Robinhood. They're kind of 634 00:27:52,800 --> 00:27:54,920 Speaker 1: still trying to be big boy. I think they've been. 635 00:27:55,000 --> 00:27:56,440 Speaker 3: They're totally big boy. They're a big boy. 636 00:27:56,480 --> 00:28:00,000 Speaker 1: But like they started as mostly a day trading app 637 00:28:00,240 --> 00:28:02,960 Speaker 1: and they have over time it evolved in their services 638 00:28:02,960 --> 00:28:07,080 Speaker 1: offering retirement accounts and now they just announced this past 639 00:28:07,119 --> 00:28:10,960 Speaker 1: week that they're going to offer retirement advice. And so 640 00:28:11,080 --> 00:28:14,800 Speaker 1: the fee similar to what other robo advisors, like Betterment 641 00:28:14,880 --> 00:28:17,119 Speaker 1: Charges are kind of getting into this robo advisor space. 642 00:28:17,400 --> 00:28:20,879 Speaker 1: They're charging a quarter of a percent, but that fee 643 00:28:20,920 --> 00:28:23,760 Speaker 1: then is capped at two hundred and fifty bucks a 644 00:28:23,800 --> 00:28:26,000 Speaker 1: year for Robinhood gold numbers. Yeah, that's good, which I 645 00:28:26,000 --> 00:28:27,359 Speaker 1: think is cool. I kind of like the idea of 646 00:28:27,359 --> 00:28:29,840 Speaker 1: the fee cap, like, hey, yeah, it's a quarter of 647 00:28:29,920 --> 00:28:33,119 Speaker 1: a point, but after you have a certain balance, we 648 00:28:33,119 --> 00:28:36,600 Speaker 1: don't charge you anymore. A good explanation of the methodology 649 00:28:36,680 --> 00:28:39,480 Speaker 1: of the Robinhood portfolio management, like how they're doing this, though, 650 00:28:39,520 --> 00:28:42,080 Speaker 1: was lacking. I just feel like I didn't see enough 651 00:28:42,080 --> 00:28:46,360 Speaker 1: information about how they're planning on implementing this. Although they're 652 00:28:46,400 --> 00:28:50,360 Speaker 1: saying that this is actively managed and that can include 653 00:28:50,440 --> 00:28:53,120 Speaker 1: individual stocks, but what it doesn't include, of course, at 654 00:28:53,120 --> 00:28:56,560 Speaker 1: that cut rate price, is personal advice. I think for now, 655 00:28:56,640 --> 00:28:58,240 Speaker 1: I don't know about you. I would say the jury 656 00:28:58,320 --> 00:29:00,479 Speaker 1: is out, we need more information about out what this 657 00:29:00,560 --> 00:29:03,200 Speaker 1: sort of Robinhood offering is going to look like. It's 658 00:29:03,240 --> 00:29:05,440 Speaker 1: like a flashy launch, but there wasn't a whole lot 659 00:29:05,440 --> 00:29:07,360 Speaker 1: of substance behind it. I think the thing I am 660 00:29:07,680 --> 00:29:11,720 Speaker 1: most nervous about, though, is robin Hood's another announcement an 661 00:29:11,840 --> 00:29:15,200 Speaker 1: upcoming launch of AI based advice, which is supposedly going 662 00:29:15,280 --> 00:29:17,320 Speaker 1: to explain to people, as you're on the app, why 663 00:29:17,480 --> 00:29:20,280 Speaker 1: stock a specific stock is going up or down? And 664 00:29:21,120 --> 00:29:24,000 Speaker 1: that it's not always straightforward, right, So, like, is the 665 00:29:24,040 --> 00:29:25,000 Speaker 1: AI going to be right on that? 666 00:29:25,040 --> 00:29:26,320 Speaker 3: Is it going to give me good advice? Or is 667 00:29:26,320 --> 00:29:28,280 Speaker 3: it going to be way off base? I don't know. 668 00:29:29,080 --> 00:29:30,800 Speaker 1: So some of the ways robin Hood is changing are 669 00:29:30,840 --> 00:29:34,800 Speaker 1: positive for customers. Others like that, like the training and 670 00:29:34,840 --> 00:29:38,240 Speaker 1: betting on future events that worries me. So there's yeah, 671 00:29:38,440 --> 00:29:40,040 Speaker 1: kind of the growing up Robinhood, and then there's still 672 00:29:40,040 --> 00:29:42,760 Speaker 1: the juvenile robin Hood I think, where I just kind 673 00:29:42,800 --> 00:29:44,240 Speaker 1: of don't know which one I'm getting. And if you're 674 00:29:44,240 --> 00:29:45,920 Speaker 1: going to go with robin Hood, you just got to 675 00:29:45,920 --> 00:29:49,560 Speaker 1: make sure you have the behavioral fortitude to let's do 676 00:29:49,600 --> 00:29:50,200 Speaker 1: the basic. 677 00:29:49,920 --> 00:29:51,320 Speaker 2: St I think that's always the case, and that's what 678 00:29:51,360 --> 00:29:52,760 Speaker 2: I was going to point to, right, like the fact 679 00:29:52,800 --> 00:29:55,120 Speaker 2: that they're offering this portfolio management and they've got these 680 00:29:55,120 --> 00:29:57,719 Speaker 2: AI tools. They're just trying to give people what it 681 00:29:57,800 --> 00:29:59,960 Speaker 2: is that folks seem to think that they want. 682 00:30:00,320 --> 00:30:00,480 Speaker 3: Right. 683 00:30:00,960 --> 00:30:03,160 Speaker 2: There are some things that like their match. The fact 684 00:30:03,200 --> 00:30:07,880 Speaker 2: that they have a non employer retirement match is amazing, 685 00:30:07,960 --> 00:30:10,800 Speaker 2: the first of its kind, freaking love that. But then 686 00:30:10,960 --> 00:30:13,880 Speaker 2: also when I log into the app, I also see 687 00:30:14,080 --> 00:30:16,240 Speaker 2: a little banner that says Hey, are you interested in 688 00:30:16,280 --> 00:30:19,920 Speaker 2: margin investing? I hate that but it's terrible. But it's 689 00:30:20,000 --> 00:30:21,840 Speaker 2: at the same time though, it's what it is that 690 00:30:21,880 --> 00:30:24,320 Speaker 2: people are coming to expect from their brokerages. But that 691 00:30:24,360 --> 00:30:26,600 Speaker 2: doesn't mean that you have to participate. It makes me, 692 00:30:26,800 --> 00:30:29,239 Speaker 2: honestly think of because like they've got so many different things, 693 00:30:29,280 --> 00:30:32,080 Speaker 2: so many different options, anything your heart might desire. 694 00:30:32,160 --> 00:30:32,400 Speaker 3: Joel. 695 00:30:32,680 --> 00:30:35,160 Speaker 2: It feels like like Walt, like Robin is almost like 696 00:30:35,200 --> 00:30:38,040 Speaker 2: Walmart here where Yeah, they've got some amazing stuff. They've 697 00:30:38,080 --> 00:30:41,920 Speaker 2: got like some great affordable organic produce that feels like 698 00:30:41,920 --> 00:30:44,320 Speaker 2: the three percent match for Gold members when it comes 699 00:30:44,320 --> 00:30:46,760 Speaker 2: to their iras. Right, You're like, yeah, give me that's 700 00:30:46,800 --> 00:30:50,040 Speaker 2: the good stuff. But guess what else Walmart cells like 701 00:30:50,240 --> 00:30:51,080 Speaker 2: Dorito's and Coke. 702 00:30:51,240 --> 00:30:53,920 Speaker 3: Yeah to me that shelves and shelves of junk food. 703 00:30:54,040 --> 00:30:56,120 Speaker 2: Yes, like in the center of the aisle. Like that's 704 00:30:56,160 --> 00:30:59,480 Speaker 2: the kind of thing that feels more like margin investing 705 00:30:59,680 --> 00:31:02,960 Speaker 2: or advice. It's like could you do without? 706 00:31:03,120 --> 00:31:04,280 Speaker 3: Well, absolutely, is it. 707 00:31:04,160 --> 00:31:06,800 Speaker 2: Something maybe occasionally you want to take a peek at. Sure, 708 00:31:06,880 --> 00:31:08,680 Speaker 2: you kind of take the good with the bad. But 709 00:31:08,840 --> 00:31:12,000 Speaker 2: in this way, ultimately, as personal finance enthusiasts, it does 710 00:31:12,000 --> 00:31:14,320 Speaker 2: come down to us as individuals and the decisions that 711 00:31:14,360 --> 00:31:16,400 Speaker 2: we make, and they continue. 712 00:31:16,560 --> 00:31:16,760 Speaker 3: Right. 713 00:31:16,800 --> 00:31:18,360 Speaker 1: The one thing, the one great thing about some of 714 00:31:18,400 --> 00:31:20,640 Speaker 1: this Robinhood innovation is I think they continue to push 715 00:31:20,680 --> 00:31:23,560 Speaker 1: the envelope and they're causing other broker's firms to have 716 00:31:23,600 --> 00:31:26,280 Speaker 1: to react and step up. Right, And so we've seen innovation. 717 00:31:26,360 --> 00:31:30,000 Speaker 1: Maybe we've seen other great broker terms. You kind of 718 00:31:30,000 --> 00:31:32,920 Speaker 1: follow robin Hood's lead on the match, right, like Betterment 719 00:31:32,920 --> 00:31:34,520 Speaker 1: implemented a match after robin Hood did. 720 00:31:34,480 --> 00:31:35,040 Speaker 3: It, which is cool. 721 00:31:35,120 --> 00:31:38,400 Speaker 1: So I like to see that maybe they're innovative ways 722 00:31:38,440 --> 00:31:41,880 Speaker 1: of thinking that could benefit some of their customers. Well, 723 00:31:42,080 --> 00:31:44,800 Speaker 1: it's it's also not limited to Robinhood. Then other firms 724 00:31:44,840 --> 00:31:46,360 Speaker 1: are getting in on the action. 725 00:31:46,760 --> 00:31:49,640 Speaker 2: Yeah, okay, talk about buy now, pay later, because those 726 00:31:49,640 --> 00:31:51,880 Speaker 2: companies out there are going to start to report to 727 00:31:52,480 --> 00:31:56,320 Speaker 2: the credit bureaus. This is a sector of the market 728 00:31:56,320 --> 00:31:58,640 Speaker 2: that's grown to be a significant piece of the consumer 729 00:31:58,760 --> 00:32:02,680 Speaker 2: lending industry. Makes a ton of sense that those cleverly 730 00:32:02,760 --> 00:32:05,920 Speaker 2: disguised loans would be factored into your credit score. I 731 00:32:06,000 --> 00:32:08,640 Speaker 2: honestly can't believe it's taken this long, especially given the 732 00:32:08,720 --> 00:32:12,600 Speaker 2: data that we have about how heavy by now Paylater 733 00:32:12,760 --> 00:32:16,920 Speaker 2: users tend to be higher credit risks, so Affirm They 734 00:32:16,960 --> 00:32:21,680 Speaker 2: started furnishing data to experience last Tuesday, TransUnion. They say 735 00:32:21,760 --> 00:32:24,640 Speaker 2: that they're already working with two NYL payloader companies as well. 736 00:32:24,880 --> 00:32:27,200 Speaker 3: I'm sure more are going to follow soon. The damn 737 00:32:27,200 --> 00:32:27,640 Speaker 3: has broken. 738 00:32:27,640 --> 00:32:29,720 Speaker 2: Credit scoring models are going to have to be tweaked 739 00:32:30,120 --> 00:32:33,000 Speaker 2: in order to include this ben PL data in their 740 00:32:33,040 --> 00:32:35,760 Speaker 2: models moving forward, where they're likely going to be treated 741 00:32:35,760 --> 00:32:39,240 Speaker 2: like other forms of debt, in particular I mean credit cards, 742 00:32:39,240 --> 00:32:41,800 Speaker 2: but also car loans because they are more like installment loans. 743 00:32:42,320 --> 00:32:45,840 Speaker 2: It's unlikely these changes are going to cause big creditscrese wings, 744 00:32:46,240 --> 00:32:48,920 Speaker 2: but maybe it might because for for some I think 745 00:32:49,160 --> 00:32:51,160 Speaker 2: it might because in a way, it almost feels like 746 00:32:51,200 --> 00:32:53,480 Speaker 2: this thing that has been ignored, like where folks have 747 00:32:53,520 --> 00:32:55,840 Speaker 2: like stuck their head in the sand, and it's like 748 00:32:55,880 --> 00:32:59,479 Speaker 2: when if you know that you've your shower's been lenking leaking, 749 00:32:59,600 --> 00:33:01,200 Speaker 2: and it's like, well, I know that there's probably some 750 00:33:01,280 --> 00:33:03,600 Speaker 2: rot under there. Maybe I don't know, maybe the sub 751 00:33:03,600 --> 00:33:05,920 Speaker 2: floor is kind of getting a little soft, but you 752 00:33:05,960 --> 00:33:08,000 Speaker 2: don't really fully know until someone gets in there and 753 00:33:08,120 --> 00:33:10,040 Speaker 2: kind of like peels it back and you're like, oh wow, 754 00:33:10,280 --> 00:33:12,600 Speaker 2: that's like all the way down to the floor joystsitude 755 00:33:12,920 --> 00:33:14,960 Speaker 2: I didn't fall through. There's a lot of damage here, 756 00:33:15,000 --> 00:33:17,600 Speaker 2: and I don't like that. The credit bureaus are kind 757 00:33:17,640 --> 00:33:20,959 Speaker 2: of the arbiters of your credit worthiness. But somebody's got 758 00:33:21,000 --> 00:33:22,320 Speaker 2: to do it, like, somebody has to be able to 759 00:33:22,360 --> 00:33:26,200 Speaker 2: wrap their head entirely around an individual's credit worthiness, how 760 00:33:26,280 --> 00:33:28,240 Speaker 2: much debt they have on hand, because there's a lot 761 00:33:28,280 --> 00:33:31,000 Speaker 2: of individuals who haven't you know again, they haven't really 762 00:33:31,040 --> 00:33:34,040 Speaker 2: been paying attention. But for those who have been paying attention, 763 00:33:34,240 --> 00:33:37,120 Speaker 2: I think the big takeaway here is that if you 764 00:33:37,160 --> 00:33:40,480 Speaker 2: pay your buy now pay later payments on time, that's 765 00:33:40,520 --> 00:33:41,880 Speaker 2: gonna help your credit score. 766 00:33:42,080 --> 00:33:42,600 Speaker 3: It's a good thing. 767 00:33:42,640 --> 00:33:45,960 Speaker 1: And clearly these deserve to be factored into your credit score, 768 00:33:46,120 --> 00:33:48,680 Speaker 1: especially based on their popularity. I could see how five 769 00:33:48,760 --> 00:33:51,800 Speaker 1: years ago like they were just they were small potatoes 770 00:33:51,880 --> 00:33:53,440 Speaker 1: and so there was more of a novel too. It 771 00:33:53,440 --> 00:33:55,640 Speaker 1: was no necessity. Yeah, and I think I mentioned this 772 00:33:55,680 --> 00:33:57,200 Speaker 1: on the show before. I've only used by now Pay 773 00:33:57,240 --> 00:33:59,040 Speaker 1: Later once and it was only because there was a 774 00:33:59,080 --> 00:34:01,239 Speaker 1: discount offer, like fifty bucks off if I use buy 775 00:34:01,240 --> 00:34:03,280 Speaker 1: now pay Later sign then I paid it off instantly. 776 00:34:03,360 --> 00:34:06,200 Speaker 1: So buy Now Pay Later still remains one of those 777 00:34:06,240 --> 00:34:09,560 Speaker 1: things where I think people lose track of how much 778 00:34:09,560 --> 00:34:12,400 Speaker 1: you're spending. You can grub ub your burger on it now, 779 00:34:12,440 --> 00:34:15,080 Speaker 1: like we've talked about recently, it's just something we're staying 780 00:34:15,120 --> 00:34:17,160 Speaker 1: away from. Especially if you don't handle it well or 781 00:34:17,160 --> 00:34:19,960 Speaker 1: you have too many outstanding loans, Well, how's that going 782 00:34:20,040 --> 00:34:22,200 Speaker 1: to factor into your credit score? It could cause it 783 00:34:22,239 --> 00:34:24,680 Speaker 1: to drop at least by a little bit, if you're 784 00:34:24,719 --> 00:34:28,080 Speaker 1: not handling those buy now, pay later payments well, or 785 00:34:28,080 --> 00:34:30,600 Speaker 1: if you're just overdoing it on buy now pay later 786 00:34:30,760 --> 00:34:33,200 Speaker 1: in general, just using it indiscriminately. All right, Matt, that's 787 00:34:33,200 --> 00:34:35,520 Speaker 1: going to do it. For this episode, we will link 788 00:34:35,600 --> 00:34:38,120 Speaker 1: to some of the articles that we mentioned up in 789 00:34:38,160 --> 00:34:40,759 Speaker 1: the show notes on our website howdomoney dot com. But 790 00:34:40,880 --> 00:34:43,800 Speaker 1: until next time, best Friends Out, Best Friends Out,