1 00:00:00,240 --> 00:00:03,080 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt's. 2 00:00:03,200 --> 00:00:07,280 Speaker 1: Today we're discussing the perils of investing apps, pandemic pay races, 3 00:00:07,400 --> 00:00:28,960 Speaker 1: and making millions on fiber. That's right. So this is 4 00:00:28,960 --> 00:00:32,040 Speaker 1: our Friday Flight episode where every week we tackle a 5 00:00:32,080 --> 00:00:34,760 Speaker 1: few of our favorite headlines that we saw come across 6 00:00:34,840 --> 00:00:37,720 Speaker 1: our phone screens or computer screens. But there are stories 7 00:00:37,720 --> 00:00:40,680 Speaker 1: that specifically have to do with our personal finances, our money. 8 00:00:41,080 --> 00:00:42,839 Speaker 1: That's what we're gonna talk about today. But first, you've 9 00:00:42,840 --> 00:00:44,440 Speaker 1: got some news you want to share, right, Yeah, I 10 00:00:44,479 --> 00:00:47,279 Speaker 1: do so, Uh better not back out. I thought you're 11 00:00:47,280 --> 00:00:51,080 Speaker 1: gonna share. No. Not everybody knows this, but I have. 12 00:00:51,360 --> 00:00:53,880 Speaker 1: For the longest time. I've worked in radio, right and 13 00:00:54,240 --> 00:00:57,680 Speaker 1: for for over fourteen years, and my day job was 14 00:00:57,760 --> 00:01:00,600 Speaker 1: working as a producer on the Clark Howard radio Show. 15 00:01:01,000 --> 00:01:04,440 Speaker 1: And Clark is a dear friend, and he has been 16 00:01:04,480 --> 00:01:07,759 Speaker 1: creating personal finance money content for over thirty years now, 17 00:01:07,840 --> 00:01:09,440 Speaker 1: and he's done an amazing job in the space. The 18 00:01:09,520 --> 00:01:13,360 Speaker 1: dude is just brilliant, beyond belief. And as of this 19 00:01:13,400 --> 00:01:16,640 Speaker 1: past week, I am no longer working for Clark anymore. 20 00:01:16,959 --> 00:01:21,240 Speaker 1: And uh exciting. It's bitter sweet it's exciting, it's bitter sweep. 21 00:01:21,280 --> 00:01:23,240 Speaker 1: It's something that you've been working towards, you know, for 22 00:01:23,280 --> 00:01:25,039 Speaker 1: the past couple of years now, as we've sort of 23 00:01:25,120 --> 00:01:26,840 Speaker 1: been like, oh, is this something that we can do, 24 00:01:26,920 --> 00:01:28,560 Speaker 1: like is the show? Is how the money something that's 25 00:01:28,560 --> 00:01:31,240 Speaker 1: going to be legit? Uh? And it's something that I 26 00:01:31,240 --> 00:01:33,520 Speaker 1: mean that I've worked towards more gradually, I guess, being 27 00:01:33,520 --> 00:01:35,560 Speaker 1: able to kind of taper off my work. But for you, 28 00:01:35,600 --> 00:01:37,679 Speaker 1: it's it's been it's either on or it's off. Right, 29 00:01:37,800 --> 00:01:39,200 Speaker 1: Like we knew that for you, we were going to 30 00:01:39,280 --> 00:01:41,280 Speaker 1: come to a point in time where things were gonna 31 00:01:41,280 --> 00:01:43,280 Speaker 1: look very different for you, right yeah, And and for you, 32 00:01:43,319 --> 00:01:45,840 Speaker 1: I mean that change has happened, um a little more 33 00:01:45,880 --> 00:01:47,320 Speaker 1: quickly than you thought it was going to because of 34 00:01:47,319 --> 00:01:50,480 Speaker 1: the pandemic too, right, So you know wedding photography was 35 00:01:50,960 --> 00:01:53,920 Speaker 1: on a steep demise. Oh yeah. The timing honestly could 36 00:01:53,920 --> 00:01:56,000 Speaker 1: not have been more perfect for us to kind of 37 00:01:56,120 --> 00:01:59,040 Speaker 1: ramp up the show start. Actually, I mean, let's be 38 00:01:59,080 --> 00:02:01,559 Speaker 1: honest here, We'll start to make income, you know from 39 00:02:01,560 --> 00:02:03,680 Speaker 1: the show through advertising. That's how it is that we're 40 00:02:03,720 --> 00:02:05,760 Speaker 1: able to generate some income from the show. And so 41 00:02:05,920 --> 00:02:08,480 Speaker 1: we actually started doing that last year for the first time, 42 00:02:08,480 --> 00:02:10,320 Speaker 1: and it's like, oh wow, this is something that it's 43 00:02:10,360 --> 00:02:12,080 Speaker 1: not just the side hustle that you and I are 44 00:02:12,160 --> 00:02:14,359 Speaker 1: interested in. It's something that's a little more legit, not 45 00:02:14,520 --> 00:02:16,600 Speaker 1: just a labor of love, although it still is the 46 00:02:16,680 --> 00:02:19,400 Speaker 1: labor of love. We're actually yeah, able to feed our 47 00:02:19,400 --> 00:02:22,240 Speaker 1: families based on this podcast and say so yeah. One, 48 00:02:22,240 --> 00:02:24,200 Speaker 1: I want to say big thanks for our listeners for 49 00:02:24,440 --> 00:02:26,560 Speaker 1: supporting the podcast by listening, by being a part of 50 00:02:26,560 --> 00:02:28,519 Speaker 1: the community too. I want to say thank you to 51 00:02:28,639 --> 00:02:30,480 Speaker 1: Clark and all the people I worked with over there, 52 00:02:30,760 --> 00:02:34,200 Speaker 1: because you know, my money education and you know my 53 00:02:34,200 --> 00:02:37,760 Speaker 1: my interest in personal finance really started over there and 54 00:02:37,760 --> 00:02:39,640 Speaker 1: and it was honed in those fourteen years, and so 55 00:02:40,120 --> 00:02:42,560 Speaker 1: big thanks to Clark and everything that he's done for 56 00:02:42,600 --> 00:02:44,440 Speaker 1: me and my family over the years. And yeah, I'm 57 00:02:44,480 --> 00:02:46,240 Speaker 1: looking forward to be being able to go all in 58 00:02:46,320 --> 00:02:48,560 Speaker 1: essentially on how the money the rest of this year 59 00:02:48,639 --> 00:02:52,920 Speaker 1: and decades hopefully moving forward. So whoa decades. I'm not 60 00:02:52,919 --> 00:02:54,560 Speaker 1: sure if I signed up for that, buddy, Oh you didn't. 61 00:02:54,560 --> 00:02:55,920 Speaker 1: You didn't see the paper I made? You signed? No, 62 00:02:56,000 --> 00:02:57,959 Speaker 1: you're you're You're signed up for at least two decades 63 00:02:58,000 --> 00:02:59,840 Speaker 1: at like a point you like slid in there after 64 00:02:59,880 --> 00:03:02,280 Speaker 1: the fact, you're like, yeah, actually there's a quick revision. 65 00:03:02,280 --> 00:03:03,680 Speaker 1: Just go ahead. Signed this. I made you sound one 66 00:03:03,680 --> 00:03:05,720 Speaker 1: of those like Patrick Mahomes contracts. Man, it's like ten 67 00:03:05,800 --> 00:03:08,200 Speaker 1: years long. So to clarify, you and I don't have 68 00:03:08,240 --> 00:03:11,120 Speaker 1: contracts that way. Yeah, that we forced each other to sign. 69 00:03:11,600 --> 00:03:13,200 Speaker 1: But back to your first point, which was thanks to 70 00:03:13,200 --> 00:03:14,680 Speaker 1: all of our listeners out there. Yeah, I want to 71 00:03:14,680 --> 00:03:16,680 Speaker 1: say that as well. We cannot do the show without 72 00:03:16,720 --> 00:03:18,799 Speaker 1: all of you. Uh and again yeah, now that we're 73 00:03:18,840 --> 00:03:20,799 Speaker 1: kind of going all in, we want to make sure 74 00:03:20,840 --> 00:03:24,080 Speaker 1: that you know that we're thankful for you. Guys. Don't 75 00:03:24,080 --> 00:03:28,119 Speaker 1: go anywhere please, But yeah, I'm definitely excited, man. I know. Yeah, 76 00:03:28,160 --> 00:03:29,720 Speaker 1: you're gonna miss, you know, kind of working with some 77 00:03:29,720 --> 00:03:32,720 Speaker 1: of those legends over there in the radio space. But 78 00:03:32,960 --> 00:03:36,920 Speaker 1: I'm here, baby, arms are wide open through the new Legend, Buddy, 79 00:03:37,000 --> 00:03:39,480 Speaker 1: new legend. I am excited for the future of of 80 00:03:39,480 --> 00:03:41,560 Speaker 1: how the Money for sure? Man, me too, man too. 81 00:03:41,760 --> 00:03:43,400 Speaker 1: All right, Yeah, so now that we got that out 82 00:03:43,400 --> 00:03:44,880 Speaker 1: of the way, Matt, let's get onto the Friday flight. 83 00:03:44,960 --> 00:03:47,800 Speaker 1: Let's talk about the financial stories we found interesting this 84 00:03:47,840 --> 00:03:49,920 Speaker 1: week of course, I want to start this week off 85 00:03:49,960 --> 00:03:52,760 Speaker 1: with a little non di Costco. They just announced that 86 00:03:53,520 --> 00:03:56,320 Speaker 1: they sold a hundred and one million rotists frie chickens 87 00:03:56,400 --> 00:03:59,240 Speaker 1: last year and a hundred and fifty one million hot 88 00:03:59,280 --> 00:04:02,360 Speaker 1: dog sod combos, and uh, I gotta say, my family, 89 00:04:02,520 --> 00:04:04,560 Speaker 1: we definitely bought our fair share of both last year. 90 00:04:06,960 --> 00:04:09,280 Speaker 1: What's crazy is I don't understand I mean a lot 91 00:04:09,320 --> 00:04:12,360 Speaker 1: of costcos they didn't have in store seating when it 92 00:04:12,360 --> 00:04:14,080 Speaker 1: came to the food court, and so what were you like, 93 00:04:14,240 --> 00:04:15,960 Speaker 1: would you guys get your food and then just like 94 00:04:16,000 --> 00:04:18,440 Speaker 1: walk around like you're at a like at a carnival 95 00:04:18,520 --> 00:04:21,560 Speaker 1: or no, because you had to have your mask on inside. 96 00:04:21,640 --> 00:04:23,320 Speaker 1: So we would literally go in and buy it. We 97 00:04:23,360 --> 00:04:26,960 Speaker 1: would walk outside and hang out to sit outside and 98 00:04:27,000 --> 00:04:32,039 Speaker 1: need our hot dogs. Oh it's so good. That's about 99 00:04:32,080 --> 00:04:34,360 Speaker 1: as nerd as it gets. I guess that does explain 100 00:04:34,360 --> 00:04:36,240 Speaker 1: it a little bit. Uh Well, speaking of deals, man, 101 00:04:36,279 --> 00:04:38,640 Speaker 1: President's Day uh is coming up right, and just a 102 00:04:38,720 --> 00:04:41,360 Speaker 1: quick reminder that there are President's Day sales coming up 103 00:04:41,400 --> 00:04:43,479 Speaker 1: as well. This is always one of the uh, the 104 00:04:43,520 --> 00:04:46,640 Speaker 1: best times of year to buy a mattress specifically, but 105 00:04:46,720 --> 00:04:49,520 Speaker 1: furniture or even winter clothing as well. You know, it 106 00:04:49,560 --> 00:04:52,599 Speaker 1: can be really helpful to take advantage of seasonal sales. 107 00:04:52,880 --> 00:04:55,280 Speaker 1: You know, buying a jacket now for next winter, for instance, 108 00:04:55,480 --> 00:04:57,719 Speaker 1: makes a lot more sense than waiting until that first 109 00:04:57,800 --> 00:05:01,479 Speaker 1: cold snap later in Uh, you'll you know, at that 110 00:05:01,480 --> 00:05:03,960 Speaker 1: point you'll pay full price when instead you can say 111 00:05:04,000 --> 00:05:07,440 Speaker 1: fifty two maybe even now. I'm definitely gonna take this 112 00:05:07,480 --> 00:05:10,440 Speaker 1: opportunity to stock up on my Long Johns again, set 113 00:05:10,480 --> 00:05:12,040 Speaker 1: for next winter. Hey, this is the time they're trying 114 00:05:12,080 --> 00:05:15,000 Speaker 1: to like clear those clear those model Long John's out, 115 00:05:15,040 --> 00:05:17,320 Speaker 1: you know, making room for the fancy new one model. 116 00:05:17,400 --> 00:05:20,200 Speaker 1: So I've got my natural, my gray in my black 117 00:05:20,640 --> 00:05:23,000 Speaker 1: like that, I've got my three sets. That's all you need. Really, 118 00:05:23,040 --> 00:05:25,359 Speaker 1: I need two of every set now though, okay, all right, 119 00:05:25,600 --> 00:05:29,080 Speaker 1: well make a happen, well, all right, and and too. 120 00:05:29,160 --> 00:05:32,159 Speaker 1: I've found this story fascinating that many of those deals, 121 00:05:32,160 --> 00:05:34,000 Speaker 1: of course, that people are gonna find for President's Day 122 00:05:34,000 --> 00:05:37,200 Speaker 1: are online. And there was an interesting story about who's 123 00:05:37,240 --> 00:05:39,840 Speaker 1: doing the most online shopping these days. It turns out 124 00:05:39,880 --> 00:05:42,800 Speaker 1: that older Americans are are taking to online shopping like 125 00:05:42,839 --> 00:05:46,040 Speaker 1: a duck to water. Yeah. The Washington Post reports that 126 00:05:46,120 --> 00:05:48,679 Speaker 1: the fastest growing category of e commerce shoppers is people 127 00:05:48,800 --> 00:05:52,560 Speaker 1: sixty five and older retirement age Americans started to gravitate 128 00:05:52,600 --> 00:05:55,000 Speaker 1: the online shopping out of necessity, of course, during COVID, 129 00:05:55,120 --> 00:05:56,719 Speaker 1: but apparently they've stuck with it. They like it, they 130 00:05:56,760 --> 00:05:59,000 Speaker 1: think it's pretty easy. So it's just kind of cool 131 00:05:59,040 --> 00:06:01,200 Speaker 1: to see that shift. I was just remarking to Emily 132 00:06:01,240 --> 00:06:02,960 Speaker 1: the other day that my dad is like a better 133 00:06:02,960 --> 00:06:04,760 Speaker 1: texture than I am. I think I told you that too, 134 00:06:05,040 --> 00:06:08,159 Speaker 1: Like he knows where to put the emojis and he's 135 00:06:08,200 --> 00:06:10,919 Speaker 1: like and I don't know, he knows all the subtexts 136 00:06:10,960 --> 00:06:13,479 Speaker 1: with each emoji which wants to avoid and yeah, and 137 00:06:13,480 --> 00:06:15,599 Speaker 1: I feel like his texting game has gotten so much 138 00:06:15,640 --> 00:06:17,960 Speaker 1: better over the years and mine is still like weak. 139 00:06:18,120 --> 00:06:20,480 Speaker 1: Like I just the thumbs up is like the only 140 00:06:20,520 --> 00:06:22,920 Speaker 1: one emoji that I use. It's like my go to. 141 00:06:23,360 --> 00:06:25,760 Speaker 1: And the thumbs up in the strong the arm flex 142 00:06:26,240 --> 00:06:27,599 Speaker 1: that's the one I used a lot too. I don't know, 143 00:06:27,640 --> 00:06:30,240 Speaker 1: I like that. Yeah, So I mean just to see, uh, 144 00:06:30,320 --> 00:06:33,040 Speaker 1: you know, my parents become more technologically adept, and it 145 00:06:33,080 --> 00:06:34,960 Speaker 1: looks like that's the case for you know, other people's 146 00:06:34,960 --> 00:06:37,200 Speaker 1: parents too, Like people in their America in their sixties 147 00:06:37,279 --> 00:06:38,800 Speaker 1: right there, they're getting with it when it comes to 148 00:06:39,160 --> 00:06:41,239 Speaker 1: online shopping in e commerce. Yeah, a lot of boomers, 149 00:06:41,240 --> 00:06:43,480 Speaker 1: a lot of folks were taken to online shopping, but 150 00:06:43,560 --> 00:06:45,240 Speaker 1: dude had a tough time getting past in that story. 151 00:06:45,240 --> 00:06:46,400 Speaker 1: Will make sure that to link to it in our 152 00:06:46,400 --> 00:06:48,120 Speaker 1: show notes. But they had interviewed somebody and he was 153 00:06:48,160 --> 00:06:50,880 Speaker 1: talking about how their household of four, how every month 154 00:06:50,880 --> 00:06:54,159 Speaker 1: they start off with a grocery order. Oh my gosh, dude, 155 00:06:54,160 --> 00:06:57,080 Speaker 1: twelve for four. People like, how do you actually do that? 156 00:06:57,400 --> 00:06:59,000 Speaker 1: I mean, And then he made it sound like that 157 00:06:59,040 --> 00:07:03,000 Speaker 1: he's definitely not shopping at ality. No, he's definitely not 158 00:07:03,040 --> 00:07:05,040 Speaker 1: planning out his meals. I'm like, what I mean, it 159 00:07:05,040 --> 00:07:07,440 Speaker 1: wouldn't be too difficult, I guess to spend that money on. 160 00:07:07,680 --> 00:07:09,400 Speaker 1: You know, you can spend your your money on just 161 00:07:09,480 --> 00:07:11,960 Speaker 1: really high quality meat things like that. But even still, 162 00:07:12,000 --> 00:07:14,440 Speaker 1: I was like, that is so much stinking money for 163 00:07:14,480 --> 00:07:16,320 Speaker 1: your first grocery run of the month. Like if he 164 00:07:16,360 --> 00:07:18,400 Speaker 1: made it sound like that, throughout the month they also 165 00:07:18,440 --> 00:07:21,200 Speaker 1: will go back to buy fresh veggies and milk, you know, 166 00:07:21,240 --> 00:07:23,600 Speaker 1: meet things like that, things that spoil. But that no 167 00:07:23,600 --> 00:07:26,400 Speaker 1: matter what, there's always like an initial first of the month, 168 00:07:27,400 --> 00:07:31,480 Speaker 1: which kind of blew my months. Yeah, I'm like, how 169 00:07:31,480 --> 00:07:34,400 Speaker 1: do you do that? But I guess it's possible. Let's 170 00:07:34,440 --> 00:07:37,120 Speaker 1: talk about investing, me, let's talk about some financial tech. 171 00:07:37,680 --> 00:07:40,800 Speaker 1: Folks that use apps to trade stocks are evidently more 172 00:07:40,880 --> 00:07:44,600 Speaker 1: likely to engage in risky, in what it's called lottery 173 00:07:44,720 --> 00:07:47,920 Speaker 1: type behavior, according to a new study from some University 174 00:07:48,000 --> 00:07:51,440 Speaker 1: of Indiana business school professors, which is really interesting, man. 175 00:07:51,480 --> 00:07:53,920 Speaker 1: You know, obviously we yeah, we haven't seen any of 176 00:07:53,920 --> 00:07:55,360 Speaker 1: that around here. You know, I don't know what they're 177 00:07:55,360 --> 00:07:59,680 Speaker 1: talking about. That that doesn't apply. Uh. We have consistently 178 00:07:59,760 --> 00:08:02,600 Speaker 1: said that many of those apps that they're not bad, 179 00:08:02,880 --> 00:08:05,120 Speaker 1: but that they can be used poorly, you know, and 180 00:08:05,120 --> 00:08:07,800 Speaker 1: and often times they are used poorly, they can encourage 181 00:08:07,800 --> 00:08:09,960 Speaker 1: bad behavior when it comes to our investments. It's true 182 00:08:09,960 --> 00:08:11,800 Speaker 1: that some of the innovation that companies like m one 183 00:08:11,840 --> 00:08:13,960 Speaker 1: and robin Hood that that they've created, that they are 184 00:08:14,000 --> 00:08:18,240 Speaker 1: good for consumers, uh and investors, but using apps you know, 185 00:08:18,320 --> 00:08:21,240 Speaker 1: on our phone to trade stocks and ETFs can cause 186 00:08:21,280 --> 00:08:23,560 Speaker 1: us to get a little too interested in investing and 187 00:08:23,640 --> 00:08:26,920 Speaker 1: lead us towards making some foolish choices when it comes 188 00:08:26,920 --> 00:08:29,280 Speaker 1: to our investments. And so I mean, basically, the more 189 00:08:29,280 --> 00:08:31,800 Speaker 1: you trade, the worse off your portfolio is going to be. 190 00:08:31,840 --> 00:08:34,760 Speaker 1: We've seen that time and time again, and specifically given 191 00:08:34,800 --> 00:08:38,319 Speaker 1: with game stock and AMC all the meme stocks out there. Yeah, 192 00:08:38,320 --> 00:08:40,280 Speaker 1: I think you call them game stock. But that's right, man, 193 00:08:40,720 --> 00:08:45,920 Speaker 1: game stocks, um stocks. But yeah, that's so true, and 194 00:08:45,960 --> 00:08:48,000 Speaker 1: it's interesting, man. I feel like, just like people might 195 00:08:48,040 --> 00:08:50,920 Speaker 1: want to take a social media app completely off their 196 00:08:50,960 --> 00:08:53,959 Speaker 1: phone in order to help them from engaging in social 197 00:08:53,960 --> 00:08:56,600 Speaker 1: media too much, from wasting too much time during the day. 198 00:08:56,760 --> 00:08:58,600 Speaker 1: If it's on there, you're going to use it, right, 199 00:08:58,600 --> 00:09:00,960 Speaker 1: It's almost impossible to avoid, and so deleting it all 200 00:09:00,960 --> 00:09:03,040 Speaker 1: together is probably the best course of action. I think 201 00:09:03,240 --> 00:09:05,520 Speaker 1: the same thing might be true for some of these 202 00:09:05,559 --> 00:09:08,480 Speaker 1: investing apps that are on your phone. It's again not 203 00:09:08,520 --> 00:09:11,000 Speaker 1: that it's not good, but maybe you say, I'm only 204 00:09:11,000 --> 00:09:13,640 Speaker 1: going to check this out on my desktop because if 205 00:09:13,679 --> 00:09:15,719 Speaker 1: it's on my phone, I'm gonna be tempted to look 206 00:09:15,760 --> 00:09:18,120 Speaker 1: at it three or five times a day, and really, 207 00:09:18,240 --> 00:09:20,800 Speaker 1: like you need to be looking at your investments once 208 00:09:20,920 --> 00:09:23,360 Speaker 1: a month, once a quarter, you know, Like we would say, 209 00:09:23,400 --> 00:09:25,440 Speaker 1: the more you avoid it, the better off you're gonna be, 210 00:09:25,480 --> 00:09:27,880 Speaker 1: not the more you're engaged in it. Essentially, yeah, absolutely, 211 00:09:28,240 --> 00:09:30,240 Speaker 1: setting limits for yourself. In my case, I actually so, 212 00:09:30,240 --> 00:09:32,200 Speaker 1: I've got a robin Hood account. I do not have 213 00:09:32,280 --> 00:09:35,160 Speaker 1: the app on my phone for that reason. You know, 214 00:09:35,360 --> 00:09:37,680 Speaker 1: if there's something I want to invest in, it's gonna 215 00:09:37,800 --> 00:09:40,280 Speaker 1: take me sitting down to the computer. It's gonna you know, 216 00:09:40,280 --> 00:09:42,120 Speaker 1: I'm gonna have to log in that way. I don't 217 00:09:42,120 --> 00:09:43,600 Speaker 1: just get to pull my phone out of my pocket, 218 00:09:43,760 --> 00:09:45,360 Speaker 1: you know, hit the app and then makes some ill 219 00:09:45,400 --> 00:09:48,560 Speaker 1: advised moves based on emotion. I'm going to keep myself 220 00:09:48,559 --> 00:09:49,920 Speaker 1: from doing that. You don't want to do that on 221 00:09:49,960 --> 00:09:51,560 Speaker 1: the fly. You want to put some thought into it. 222 00:09:51,800 --> 00:09:53,719 Speaker 1: And also to the more that you trade, the more 223 00:09:53,760 --> 00:09:56,360 Speaker 1: likely you are to trigger taxable events inside of a 224 00:09:56,400 --> 00:09:59,959 Speaker 1: brokerage account. Right, the tax code is far more favor 225 00:10:00,040 --> 00:10:02,280 Speaker 1: or bowl. If you hold an asset for at least 226 00:10:02,360 --> 00:10:05,520 Speaker 1: a year, you're gonna pay taxes on gains at the 227 00:10:05,559 --> 00:10:08,880 Speaker 1: more favorable capital gains tax rate instead of at your 228 00:10:08,880 --> 00:10:11,520 Speaker 1: income tax rate. But if you hold a stock only 229 00:10:11,600 --> 00:10:14,160 Speaker 1: for a few days, weeks, or even a few months, 230 00:10:14,480 --> 00:10:18,120 Speaker 1: not only are you engaging in riskier investing behavior, but 231 00:10:18,160 --> 00:10:20,640 Speaker 1: you're likely to get a bigger tax bill on those 232 00:10:20,679 --> 00:10:23,439 Speaker 1: gains too. The Wall Street Journal, Matt actually profiled a 233 00:10:23,520 --> 00:10:25,680 Speaker 1: Robin Hood trader who just got his ten ninety nine 234 00:10:25,960 --> 00:10:29,439 Speaker 1: and it's confusing, he said, And it's also thirty four 235 00:10:29,440 --> 00:10:32,120 Speaker 1: pages long, and so he's like, I think I'm gonna 236 00:10:32,120 --> 00:10:33,719 Speaker 1: need to hire someone to do my taxes this year. 237 00:10:33,800 --> 00:10:36,079 Speaker 1: Pages and pages of all of his buys and sells. 238 00:10:36,480 --> 00:10:38,000 Speaker 1: It's like, oh, this is a mess. I need something. 239 00:10:38,040 --> 00:10:39,840 Speaker 1: I need some help now. And I think like those 240 00:10:39,920 --> 00:10:43,520 Speaker 1: are a number of reasons that why we suggest keeping 241 00:10:43,559 --> 00:10:45,800 Speaker 1: things simple when it comes to investing. I think I'd 242 00:10:45,800 --> 00:10:47,600 Speaker 1: be overwhelmed if I got a thirty four page t 243 00:10:49,520 --> 00:10:51,880 Speaker 1: anything right exactly except for a book that I want 244 00:10:51,960 --> 00:10:55,240 Speaker 1: to read. And on the note of taxes, with taxis 245 00:10:55,280 --> 00:10:57,600 Speaker 1: and upon us, a lot of folks might be wondering 246 00:10:57,760 --> 00:11:01,679 Speaker 1: if the stimulus checks that they've received are taxable. Uh, well, 247 00:11:01,720 --> 00:11:04,320 Speaker 1: good news they are not, so there's nothing else you 248 00:11:04,360 --> 00:11:08,000 Speaker 1: need to do if you received those payments. But now 249 00:11:08,040 --> 00:11:12,160 Speaker 1: for the bad news. Unemployments or jobless benefits are federally 250 00:11:12,240 --> 00:11:14,320 Speaker 1: tax and so hopefully when you signed up for your 251 00:11:14,360 --> 00:11:18,280 Speaker 1: unemployment you chose to have taxes deducted, or if you 252 00:11:18,280 --> 00:11:20,920 Speaker 1: didn't choose that, you've been setting money aside for taxes, 253 00:11:21,280 --> 00:11:24,720 Speaker 1: but you can expect to receive a ten which will 254 00:11:24,720 --> 00:11:27,320 Speaker 1: lift out all of your unemployment income, and you'll need 255 00:11:27,400 --> 00:11:29,680 Speaker 1: to report that number when it does come time. Free 256 00:11:29,720 --> 00:11:32,199 Speaker 1: to file your taxes. All right, Taxes stink. Let's not 257 00:11:32,240 --> 00:11:34,480 Speaker 1: talk about them anymore. Let's move on to something else, 258 00:11:34,679 --> 00:11:37,200 Speaker 1: maybe some better news that we saw this week. Kroger 259 00:11:37,360 --> 00:11:39,800 Speaker 1: and Target are joining the ranks of companies like all 260 00:11:39,880 --> 00:11:42,640 Speaker 1: the Dollar General, Trader, Joe's Chilbonni. Is that how you 261 00:11:42,679 --> 00:11:45,800 Speaker 1: say it? I always forget? Yeah? Is that how you say? Okay, 262 00:11:46,840 --> 00:11:49,760 Speaker 1: they're gonna all pay their employees to get a COVID shot. 263 00:11:50,040 --> 00:11:52,560 Speaker 1: Kroger is giving employees a Hunter Bucks to get vaccinated, 264 00:11:52,600 --> 00:11:54,800 Speaker 1: and Targets offering up the four hours of pay so 265 00:11:54,840 --> 00:11:57,760 Speaker 1: that employees can get their vaccine shots plus a free 266 00:11:57,800 --> 00:12:00,400 Speaker 1: lift ride to and from. Yeah. I feel like a 267 00:12:00,520 --> 00:12:02,720 Speaker 1: free ride like that, Like that's kind of the cheery 268 00:12:02,720 --> 00:12:04,200 Speaker 1: on top, Like that's what it's like, you know what. 269 00:12:04,200 --> 00:12:06,360 Speaker 1: I wasn't gonna do this, but oh, free lift ride. 270 00:12:07,240 --> 00:12:08,880 Speaker 1: Someone's gonna pick me up and take me there. It 271 00:12:08,880 --> 00:12:11,920 Speaker 1: seems special. Yeah, exactly. Uh, And I think, like man, 272 00:12:12,400 --> 00:12:16,120 Speaker 1: everything in economics revolves around incentives. Like we do things 273 00:12:16,240 --> 00:12:18,880 Speaker 1: based on certain incentives, and the more we can incentivize 274 00:12:18,880 --> 00:12:22,400 Speaker 1: people to get their COVID vaccination um and you know 275 00:12:22,440 --> 00:12:24,880 Speaker 1: these employers that are doing it, I just applaud it 276 00:12:24,920 --> 00:12:28,000 Speaker 1: because that's going to help us get there more quickly, right, um, 277 00:12:28,040 --> 00:12:30,839 Speaker 1: get to the point where we have enough of people 278 00:12:30,920 --> 00:12:33,400 Speaker 1: nationwide vaccinated. It's great for these employees, it is great 279 00:12:33,400 --> 00:12:35,520 Speaker 1: for the customers of those stores, and it's just great 280 00:12:35,559 --> 00:12:37,120 Speaker 1: for our country as a whole. Yeah, I mean, it's 281 00:12:37,160 --> 00:12:39,640 Speaker 1: it's great for science to write right, you know. And 282 00:12:39,880 --> 00:12:42,160 Speaker 1: if you want to be a part of helping another 283 00:12:42,240 --> 00:12:45,320 Speaker 1: new vaccine get approved while making some extra money, it 284 00:12:45,400 --> 00:12:48,640 Speaker 1: might make sense to join a clinical trial. I was 285 00:12:48,679 --> 00:12:51,280 Speaker 1: talking to my neighbor. He's an infectious disease doctor, and 286 00:12:51,280 --> 00:12:53,400 Speaker 1: he says like, hey, dude, uh, you might be interested. 287 00:12:53,559 --> 00:12:56,880 Speaker 1: If you get the shot, you'll get paid money. So 288 00:12:56,960 --> 00:12:59,600 Speaker 1: I got the details from him, and Novovas here in 289 00:12:59,600 --> 00:13:02,360 Speaker 1: Atlanta is paying participants to get a shot. It could 290 00:13:02,360 --> 00:13:04,599 Speaker 1: be the actual vaccine, but it could also be a placebo. 291 00:13:04,920 --> 00:13:08,400 Speaker 1: And then they are compensating folks five dollars per visit. 292 00:13:08,760 --> 00:13:11,280 Speaker 1: There are multiple visits after that where you'd go in 293 00:13:11,360 --> 00:13:12,880 Speaker 1: and you know, they'll ask you a bunch of questions 294 00:13:13,280 --> 00:13:16,520 Speaker 1: and you'll continue to get paid though up to sell. 295 00:13:17,160 --> 00:13:19,559 Speaker 1: That's a that's legit money right there. And so it 296 00:13:19,920 --> 00:13:22,160 Speaker 1: does vary depending on the city, uh, and whether or 297 00:13:22,160 --> 00:13:25,240 Speaker 1: not Novavax is running a trial near where you live. 298 00:13:25,440 --> 00:13:27,440 Speaker 1: But you can find more information or sign up for 299 00:13:27,480 --> 00:13:29,559 Speaker 1: some of those trials or or look into those studies 300 00:13:29,600 --> 00:13:32,440 Speaker 1: at prevent covid dot org. Put a link to that 301 00:13:32,480 --> 00:13:34,280 Speaker 1: in the show notes. All Right, we got some more 302 00:13:34,320 --> 00:13:36,560 Speaker 1: stories when you get to including, of course, the ludicrous 303 00:13:36,559 --> 00:13:39,120 Speaker 1: headline of a week. And it's truly ludicrous this week. 304 00:13:39,160 --> 00:13:41,760 Speaker 1: I gotta I gotta say I read it. I almost cried, 305 00:13:42,160 --> 00:13:45,440 Speaker 1: uh with tears of anger, though tears of anger. We'll 306 00:13:45,440 --> 00:13:56,600 Speaker 1: get to that and more right after this break. All right, 307 00:13:56,640 --> 00:13:58,439 Speaker 1: we are back from the break a ngel. It is 308 00:13:58,480 --> 00:14:01,480 Speaker 1: time for our ludicrous headline of the week. This week 309 00:14:01,480 --> 00:14:04,880 Speaker 1: we have a headline from Fortune magazine, which I feel 310 00:14:04,920 --> 00:14:08,280 Speaker 1: like they should have to rename their magazine after this headline. 311 00:14:08,320 --> 00:14:10,680 Speaker 1: But here's how you don't get it work. Yes, seriously, 312 00:14:10,720 --> 00:14:14,680 Speaker 1: So the title of this article was financial sacrilege. Saving 313 00:14:14,679 --> 00:14:17,720 Speaker 1: for retirement could be a mistake For twenty and thirty somethings. Dude, 314 00:14:18,800 --> 00:14:24,080 Speaker 1: what retirement. Yeah, it's like, oh, yeah, you should wait 315 00:14:24,120 --> 00:14:26,880 Speaker 1: until you're forty years old before you start saving for retirement. 316 00:14:27,240 --> 00:14:29,960 Speaker 1: So that the piece was basically based on a study 317 00:14:30,360 --> 00:14:33,680 Speaker 1: from the National Bureau of Economic Research, and that paper 318 00:14:33,760 --> 00:14:36,640 Speaker 1: took into account what the authors called the quote unquote 319 00:14:36,680 --> 00:14:42,160 Speaker 1: total life satisfaction. Basically, the authors were saying that cash strapped, 320 00:14:42,240 --> 00:14:44,560 Speaker 1: you know, twenty something year olds who are likely to 321 00:14:44,560 --> 00:14:46,720 Speaker 1: see their wages, you know, go up in the future, 322 00:14:46,880 --> 00:14:51,560 Speaker 1: should prioritize enjoying life now over investing those those precious 323 00:14:51,640 --> 00:14:53,960 Speaker 1: few dollars that they have for their futures. You know, 324 00:14:54,240 --> 00:14:56,120 Speaker 1: count on the fact that your salary is gonna go up, 325 00:14:56,200 --> 00:14:58,640 Speaker 1: you know, through the roof twenty years from now before 326 00:14:58,640 --> 00:15:00,560 Speaker 1: you start investing. Instead, take off money now and just 327 00:15:00,600 --> 00:15:03,440 Speaker 1: blow it. Exactly great advice. That's wonderful advice. I mean, 328 00:15:03,480 --> 00:15:05,240 Speaker 1: I don't even know why we're still creating this show 329 00:15:05,560 --> 00:15:07,480 Speaker 1: when just leave it to fortune when advice like that 330 00:15:07,560 --> 00:15:09,800 Speaker 1: is out there, you know, and I think, Matt, how 331 00:15:09,800 --> 00:15:12,800 Speaker 1: the money listeners know that saving money and enjoying life 332 00:15:13,120 --> 00:15:16,600 Speaker 1: are not mutually exclusive. You you don't forfeit the good 333 00:15:16,640 --> 00:15:18,880 Speaker 1: life by saving and investing. Now you can do both 334 00:15:18,920 --> 00:15:20,800 Speaker 1: at the same time, right, Like you can walk and 335 00:15:20,880 --> 00:15:24,560 Speaker 1: chew gum, you can uh save for your retirement and 336 00:15:24,800 --> 00:15:27,080 Speaker 1: have some good times while you're doing it. Yeah. Well, 337 00:15:27,120 --> 00:15:28,480 Speaker 1: then on the flip side of it as well, do 338 00:15:28,520 --> 00:15:30,360 Speaker 1: they think that once you hit forty that you no 339 00:15:30,400 --> 00:15:33,040 Speaker 1: longer want to have fun? Like? Well, I guess now 340 00:15:33,080 --> 00:15:35,080 Speaker 1: you have the disposal income is what they're saying. You 341 00:15:35,080 --> 00:15:37,960 Speaker 1: want to invest like crazy and then also have fun. 342 00:15:38,040 --> 00:15:40,240 Speaker 1: I mean, you gotta have balance, and that's what we 343 00:15:40,240 --> 00:15:41,800 Speaker 1: talked about on the show, that there are ways to 344 00:15:41,840 --> 00:15:43,600 Speaker 1: do both. Like you said, we want you to have 345 00:15:43,640 --> 00:15:45,320 Speaker 1: your cake and eat it too. I mean, I remember, 346 00:15:45,400 --> 00:15:47,280 Speaker 1: you know, when I was first coming out of college 347 00:15:47,440 --> 00:15:50,080 Speaker 1: and part time job or even then my first full 348 00:15:50,080 --> 00:15:53,720 Speaker 1: time job, and the salaries were abysmal, and like for 349 00:15:53,760 --> 00:15:56,280 Speaker 1: a while I was working two jobs right in order 350 00:15:56,360 --> 00:15:58,040 Speaker 1: to to make ends meet and also try to be 351 00:15:58,080 --> 00:16:00,680 Speaker 1: able to meet some of my saving skulls. But I'm 352 00:16:00,720 --> 00:16:03,000 Speaker 1: so glad that I started saving early, Like I would 353 00:16:03,040 --> 00:16:05,320 Speaker 1: never ever go back to my younger self and be like, 354 00:16:05,480 --> 00:16:08,480 Speaker 1: it's not worth it, you know, because I've seen the 355 00:16:08,520 --> 00:16:11,200 Speaker 1: benefits payoff over over the last decade and a half right, 356 00:16:11,560 --> 00:16:14,000 Speaker 1: and obviously you can't afford everything out there, right that 357 00:16:14,040 --> 00:16:16,560 Speaker 1: that might bring you some happiness. But that's true again, 358 00:16:16,600 --> 00:16:18,600 Speaker 1: like you were talking about, Matt, no matter what age 359 00:16:18,600 --> 00:16:21,200 Speaker 1: and income level you're at, right, there's always gonna be something. Yeah, 360 00:16:21,280 --> 00:16:23,600 Speaker 1: and we we have to disagree with the authors of 361 00:16:23,600 --> 00:16:26,000 Speaker 1: this study that they're probably fancy people working at the 362 00:16:26,040 --> 00:16:28,840 Speaker 1: National Bureau of the Economic Research. They're fancier than we are. 363 00:16:28,920 --> 00:16:31,960 Speaker 1: But I gotta say we're not with you on this. Uh, 364 00:16:32,280 --> 00:16:36,080 Speaker 1: you should start saving early on in your in your career. Uh. 365 00:16:36,320 --> 00:16:38,880 Speaker 1: If you wait until your two decades into your working career, 366 00:16:38,960 --> 00:16:40,600 Speaker 1: at that point, you will have missed out on a 367 00:16:40,680 --> 00:16:42,840 Speaker 1: huge opportunity to build wealth for yourself and to get 368 00:16:42,840 --> 00:16:45,400 Speaker 1: those compounding returns that are oh so crucial in those 369 00:16:45,400 --> 00:16:47,360 Speaker 1: early years. Matt, and and I know too a lot 370 00:16:47,400 --> 00:16:49,360 Speaker 1: of our friends who are in the fire movement would 371 00:16:49,360 --> 00:16:53,160 Speaker 1: say we're retired by forty, like we've been saving so 372 00:16:53,320 --> 00:16:56,360 Speaker 1: diligently for those first fifteen to twenty years that we 373 00:16:56,400 --> 00:16:58,360 Speaker 1: don't have to save anymore. Now we can be done 374 00:16:58,360 --> 00:17:00,080 Speaker 1: working if we want to be. So. I don't know, 375 00:17:00,160 --> 00:17:02,960 Speaker 1: that just seems like really poor advice. And I don't 376 00:17:02,960 --> 00:17:05,159 Speaker 1: know how that paper became a thing, and so that 377 00:17:05,280 --> 00:17:07,120 Speaker 1: is why that is the ludicrous headline of the week. 378 00:17:07,359 --> 00:17:08,840 Speaker 1: That's right. Yeah, So let's go ahead and put some 379 00:17:08,920 --> 00:17:12,240 Speaker 1: numbers to this whole idea. Right. You mentioned compounding interest, 380 00:17:12,320 --> 00:17:14,480 Speaker 1: and I ran the numbers. And if you start contributing 381 00:17:14,520 --> 00:17:17,040 Speaker 1: to a roth ira at age twenty, right, So they 382 00:17:17,080 --> 00:17:19,000 Speaker 1: said basically to not invest from you know, in your 383 00:17:19,000 --> 00:17:21,159 Speaker 1: twenties and thirties. Instead, wait until you're forty. But what 384 00:17:21,200 --> 00:17:23,560 Speaker 1: if you took the exact opposite approach, and took the 385 00:17:23,600 --> 00:17:27,080 Speaker 1: exact opposite approach, invested every year for your throughout your 386 00:17:27,080 --> 00:17:29,399 Speaker 1: twenties and and not even in brokerage accounts too, but 387 00:17:29,480 --> 00:17:31,879 Speaker 1: just maxing out your rath ira. We're talking six thousand 388 00:17:31,880 --> 00:17:34,120 Speaker 1: dollars a year at the end of those twenty years. 389 00:17:34,160 --> 00:17:36,600 Speaker 1: By the time for forty, you're gonna have two six 390 00:17:36,640 --> 00:17:39,320 Speaker 1: thousand dollars saved up. But here's the thing. If you 391 00:17:39,400 --> 00:17:42,120 Speaker 1: stop contributing at that point altogether and you no longer 392 00:17:42,160 --> 00:17:44,399 Speaker 1: save any additional money, but then you allow that money 393 00:17:44,600 --> 00:17:47,160 Speaker 1: to compound until you're sixty five years old, you're gonna 394 00:17:47,200 --> 00:17:50,480 Speaker 1: have one point three million dollars at age sixty five. 395 00:17:50,640 --> 00:17:52,760 Speaker 1: You go right one point three. So remember that number. 396 00:17:52,880 --> 00:17:55,520 Speaker 1: And so that's for the early investor, now for the 397 00:17:55,720 --> 00:17:59,200 Speaker 1: live life, now invest later investor. If that person were 398 00:17:59,240 --> 00:18:02,439 Speaker 1: to start maxing out rath Ray at age forty and 399 00:18:02,480 --> 00:18:05,000 Speaker 1: contribute all the way from age forty until sixty five 400 00:18:05,040 --> 00:18:08,159 Speaker 1: years old, they're only going to have three eighty thousand 401 00:18:08,240 --> 00:18:11,879 Speaker 1: dollars at age sixty five. In order to reach the 402 00:18:11,960 --> 00:18:14,479 Speaker 1: same amount of savings at one point three million, they 403 00:18:14,480 --> 00:18:17,720 Speaker 1: would have to triple their contributions every single year in 404 00:18:17,840 --> 00:18:19,880 Speaker 1: order to get anywhere near that one point three million, 405 00:18:20,080 --> 00:18:21,479 Speaker 1: and so ultimately, in the end they would have had 406 00:18:21,480 --> 00:18:23,800 Speaker 1: to save way more money to have the same amount 407 00:18:23,960 --> 00:18:26,080 Speaker 1: by age sixty five. I don't know about you, but 408 00:18:26,080 --> 00:18:28,320 Speaker 1: I would rather take the low and slow approach. You know, 409 00:18:28,359 --> 00:18:30,280 Speaker 1: Let's start investing as soon as you can, as soon 410 00:18:30,320 --> 00:18:32,560 Speaker 1: as as it's possible. Oh, I think you do know 411 00:18:32,600 --> 00:18:34,400 Speaker 1: about me. I think you know I'm in that same 412 00:18:34,400 --> 00:18:36,480 Speaker 1: boat with You're you're all about it too, man. But 413 00:18:36,840 --> 00:18:39,119 Speaker 1: we wanted to point out though, how important it is 414 00:18:39,160 --> 00:18:41,680 Speaker 1: to get investing early. It's not gonna feel like you're 415 00:18:41,680 --> 00:18:43,240 Speaker 1: moving the needle much, but we want you to get 416 00:18:43,280 --> 00:18:46,320 Speaker 1: investing as early as you can. Yeah, those small steps 417 00:18:46,320 --> 00:18:49,400 Speaker 1: early on have an outside impact. Um by the time 418 00:18:49,440 --> 00:18:51,960 Speaker 1: you're sixty five, by the time you're hitting that age 419 00:18:52,000 --> 00:18:54,720 Speaker 1: in which you don't want to work anymore. So if 420 00:18:54,760 --> 00:18:56,920 Speaker 1: you are had a money listener and you see a 421 00:18:57,080 --> 00:18:59,920 Speaker 1: headline that you know, on this level of ludicrous police 422 00:19:00,040 --> 00:19:01,560 Speaker 1: in our way, well we'll try to feature it in 423 00:19:01,600 --> 00:19:03,879 Speaker 1: a future episode. All right, let's go on to a 424 00:19:03,920 --> 00:19:05,800 Speaker 1: couple more stories, though, Matt. Let's talk about the economy 425 00:19:05,840 --> 00:19:08,640 Speaker 1: and the job market. The economy continues to do well 426 00:19:08,680 --> 00:19:11,440 Speaker 1: despite the effects of COVID. There's a new survey that 427 00:19:11,480 --> 00:19:14,440 Speaker 1: we saw this week from sky Nova that highlighted the 428 00:19:14,440 --> 00:19:17,439 Speaker 1: fact that many who lost their job earlier on in 429 00:19:17,480 --> 00:19:21,200 Speaker 1: the pandemic have actually found themselves now in a higher 430 00:19:21,240 --> 00:19:24,920 Speaker 1: paying job. That survey actually found that of people who 431 00:19:24,920 --> 00:19:27,440 Speaker 1: lost their job but continued looking for work had been 432 00:19:27,480 --> 00:19:29,960 Speaker 1: able to land a job that paid more than the 433 00:19:29,960 --> 00:19:32,080 Speaker 1: place where they were previously at than their previous job, 434 00:19:32,480 --> 00:19:35,600 Speaker 1: And in fact, employees who were laid off and then 435 00:19:35,680 --> 00:19:39,800 Speaker 1: hired into new jobs average a sixteen percent salary increase. 436 00:19:40,160 --> 00:19:42,320 Speaker 1: So h I mean, even though things are are shaky 437 00:19:42,359 --> 00:19:45,000 Speaker 1: in some sectors of the economy, the job market is 438 00:19:45,119 --> 00:19:47,399 Speaker 1: still bright for a whole lot of people, and I 439 00:19:47,440 --> 00:19:49,639 Speaker 1: just wanted to encourage people out there. Um, there was 440 00:19:49,760 --> 00:19:53,640 Speaker 1: a thread just yesterday in our in our Facebook group 441 00:19:53,840 --> 00:19:55,360 Speaker 1: where a guy I was like, I'm kind of tired 442 00:19:55,400 --> 00:19:57,879 Speaker 1: of my job, and he asked all of our listeners like, 443 00:19:58,119 --> 00:20:00,520 Speaker 1: what what do you do? And do you kid or not? 444 00:20:00,720 --> 00:20:03,080 Speaker 1: And there was this like a d plus comments in there, 445 00:20:03,080 --> 00:20:05,440 Speaker 1: people telling each other what they do and whether or 446 00:20:05,440 --> 00:20:07,600 Speaker 1: not they love their job, and it was like really 447 00:20:07,600 --> 00:20:10,200 Speaker 1: fun to watch. Uh, maybe you can get some inspiration 448 00:20:10,240 --> 00:20:13,080 Speaker 1: from that threat. But you might be seeing some headlines 449 00:20:13,080 --> 00:20:15,359 Speaker 1: about unemployment and the job market. But I will say 450 00:20:15,480 --> 00:20:18,960 Speaker 1: in many cases, people are finding great work and getting 451 00:20:18,960 --> 00:20:21,639 Speaker 1: paid more by moving to another sector or taking a 452 00:20:21,640 --> 00:20:24,640 Speaker 1: new job. So don't have a diffetist attitude. Start looking. 453 00:20:24,680 --> 00:20:27,120 Speaker 1: You might find something better that's gonna end up paying 454 00:20:27,119 --> 00:20:29,159 Speaker 1: you more to Yeah, that's right, man. And and some 455 00:20:29,200 --> 00:20:31,840 Speaker 1: of those struggling sectors as well are starting to experience 456 00:20:31,840 --> 00:20:34,400 Speaker 1: a meaningful recovery as well. You know, Like I don't 457 00:20:34,400 --> 00:20:36,440 Speaker 1: want to be too optimistic, but it certainly does feel 458 00:20:36,440 --> 00:20:37,879 Speaker 1: like the kind of kind of like the beginning of 459 00:20:37,920 --> 00:20:40,040 Speaker 1: the end of COVID, didn't it. It feels like that 460 00:20:40,080 --> 00:20:41,920 Speaker 1: it's so hard to actually like say that out loud 461 00:20:41,960 --> 00:20:45,040 Speaker 1: with words. But yeah, folks are like, dude, don't jinx it. 462 00:20:45,160 --> 00:20:47,679 Speaker 1: But like, you see the massive decrease of new reported 463 00:20:47,720 --> 00:20:51,480 Speaker 1: cases of code and it's certainly encouraging to me. But dude, anecdotally, 464 00:20:51,640 --> 00:20:53,560 Speaker 1: we were talking to a local brewy owner here in 465 00:20:53,600 --> 00:20:55,399 Speaker 1: Atlanta and he was due. He was really happy with 466 00:20:55,400 --> 00:20:57,840 Speaker 1: where things staying with his business right now, and he 467 00:20:57,880 --> 00:21:00,680 Speaker 1: mentioned that one could could be their best year yet. 468 00:21:01,240 --> 00:21:03,439 Speaker 1: We certainly hope, so we love that brewery. In a 469 00:21:03,560 --> 00:21:06,959 Speaker 1: recent article in USA Today mentioned how many hotels are 470 00:21:07,000 --> 00:21:09,560 Speaker 1: starting to see guests return and they're starting to do 471 00:21:09,600 --> 00:21:13,760 Speaker 1: more hiring, especially for temporary workers. That's a good sign 472 00:21:13,800 --> 00:21:15,920 Speaker 1: of things to come in the job market, uh, and 473 00:21:16,040 --> 00:21:19,160 Speaker 1: for the economy as a whole. Hopefully these really hard 474 00:21:19,240 --> 00:21:22,040 Speaker 1: hit sectors UH in business will start to see a 475 00:21:22,040 --> 00:21:25,040 Speaker 1: renaissance of interest. As we we quickly vaccinate huge swass 476 00:21:25,040 --> 00:21:27,879 Speaker 1: of our nation. As the temperatures increases, we're able to 477 00:21:27,920 --> 00:21:30,520 Speaker 1: spend less time indoors in our case. You know, we 478 00:21:30,560 --> 00:21:33,359 Speaker 1: stare face to face, but h but we've been u potting. 479 00:21:33,359 --> 00:21:35,280 Speaker 1: We've been cohording this entire time. Man. You gotta have 480 00:21:35,320 --> 00:21:37,600 Speaker 1: your COVID pod, you know, like and could you like 481 00:21:37,640 --> 00:21:39,040 Speaker 1: what if you hope you chose the right people at 482 00:21:39,040 --> 00:21:40,280 Speaker 1: the beginning of it too, By the way, what if 483 00:21:40,280 --> 00:21:43,760 Speaker 1: you didn't. Man, it's tough, that's that's true. But we chose, 484 00:21:43,840 --> 00:21:46,440 Speaker 1: we chose. Well, all right, let's get on to like pay. 485 00:21:46,440 --> 00:21:48,399 Speaker 1: What we're talking about employment, But let's talk about pay too. 486 00:21:48,760 --> 00:21:50,960 Speaker 1: There's been political talk when it comes start raising the 487 00:21:51,000 --> 00:21:53,400 Speaker 1: minimum wage, but uh, and we don't want to comment 488 00:21:53,400 --> 00:21:55,440 Speaker 1: on the political situation. I don't really care about that 489 00:21:55,480 --> 00:21:57,720 Speaker 1: as much. But let's get nerdy for a minute and 490 00:21:57,760 --> 00:22:01,280 Speaker 1: talk about efficiency. Wage theory. This is an idea by 491 00:22:01,359 --> 00:22:05,080 Speaker 1: economists that when you increase wages to above market rates, 492 00:22:05,119 --> 00:22:09,040 Speaker 1: that those increases actually pay for themselves through higher employee retention, 493 00:22:09,240 --> 00:22:12,560 Speaker 1: worker motivation, and productivity. In the Wall Street Journal actually 494 00:22:12,720 --> 00:22:16,080 Speaker 1: cited uh several studies that support this theory. Recently, as 495 00:22:16,119 --> 00:22:18,879 Speaker 1: individual companies have experimented as they've sought to make their 496 00:22:18,920 --> 00:22:22,160 Speaker 1: companies more successful. And this makes sense, Like who doesn't 497 00:22:22,200 --> 00:22:23,880 Speaker 1: like seeing that they received a pay raise, And maybe 498 00:22:23,880 --> 00:22:26,399 Speaker 1: it motivates you to work a little harder, do a 499 00:22:26,440 --> 00:22:29,080 Speaker 1: little better at work. Um crush that sales goal even more, 500 00:22:29,359 --> 00:22:31,520 Speaker 1: or maybe you know, stay an extra fifteen twenty minutes 501 00:22:31,520 --> 00:22:33,600 Speaker 1: in order to get something done that otherwise you might 502 00:22:33,640 --> 00:22:35,680 Speaker 1: have like left undone. But the fact is that these 503 00:22:35,720 --> 00:22:39,000 Speaker 1: experiments have taken place on a small scale, individual companies 504 00:22:39,320 --> 00:22:43,439 Speaker 1: essentially raising the pay of their employees to incentivize this 505 00:22:43,520 --> 00:22:46,760 Speaker 1: behavior and to create a bond of loyalty. That's really effective. 506 00:22:47,000 --> 00:22:51,359 Speaker 1: Um And I don't know whether this translates into a 507 00:22:51,480 --> 00:22:53,920 Speaker 1: higher national minimum wage being the right response, but it 508 00:22:53,960 --> 00:22:57,080 Speaker 1: at least getting back to the political talk, but it 509 00:22:57,119 --> 00:22:59,480 Speaker 1: at least works. Uh, it seems to work for a 510 00:22:59,480 --> 00:23:02,800 Speaker 1: lot of compnees implementing it on their own business level, right, Yeah, 511 00:23:02,880 --> 00:23:05,520 Speaker 1: I mean I also am unsure of the effectiveness if 512 00:23:05,520 --> 00:23:07,960 Speaker 1: this were a national thing, right because unfortunately, I think 513 00:23:07,960 --> 00:23:10,480 Speaker 1: so much of how we view how we're doing is 514 00:23:10,520 --> 00:23:13,399 Speaker 1: by looking at those around us. And if you are 515 00:23:13,560 --> 00:23:16,159 Speaker 1: working harder yourself and you're able to manage higher pay, 516 00:23:16,320 --> 00:23:18,520 Speaker 1: that's encouraging, right, Just like you said, it leads to 517 00:23:18,600 --> 00:23:21,760 Speaker 1: higher you know, retention, higher productivity. But like if everybody 518 00:23:21,800 --> 00:23:24,160 Speaker 1: around you get a pay bump, it's like, okay, cool, 519 00:23:24,400 --> 00:23:27,639 Speaker 1: Like certainly you did get more pay, but in relation 520 00:23:27,680 --> 00:23:29,880 Speaker 1: to those around you. Maybe even in relation to two 521 00:23:29,920 --> 00:23:33,399 Speaker 1: prices that might be rising, it may not feel as significant, right, 522 00:23:33,480 --> 00:23:36,080 Speaker 1: may not have quite the same impact exactly. Yeah, as well, 523 00:23:36,280 --> 00:23:39,680 Speaker 1: Speaking of pay, CNBC just ran an article about a 524 00:23:39,680 --> 00:23:42,080 Speaker 1: a thirty five year old teacher who made two million 525 00:23:42,119 --> 00:23:46,160 Speaker 1: dollars writing resumes on fiver, which were a fan of man. 526 00:23:46,640 --> 00:23:48,879 Speaker 1: Uh this guy, his name is Richard Lambert. He was 527 00:23:48,920 --> 00:23:51,919 Speaker 1: teaching English overseas and then decided to make use of 528 00:23:51,960 --> 00:23:54,840 Speaker 1: his background and resume writing on the side. So he 529 00:23:54,880 --> 00:23:57,920 Speaker 1: made a five listing back in and then went full 530 00:23:57,920 --> 00:24:00,240 Speaker 1: time in twenty sixteen because he was getting so much 531 00:24:00,240 --> 00:24:02,400 Speaker 1: work just in those handful of years. Since then, he's 532 00:24:02,440 --> 00:24:05,639 Speaker 1: made over two million dollars. So it just goes to 533 00:24:05,680 --> 00:24:08,280 Speaker 1: show that, you know, over time, your side hustle can 534 00:24:08,320 --> 00:24:11,680 Speaker 1: truly provide some real income. Uh in turned into something 535 00:24:11,720 --> 00:24:14,359 Speaker 1: completely legit. Uh sort of like how no money? Although 536 00:24:14,400 --> 00:24:16,800 Speaker 1: we have not made two million dollars. No, we haven't, 537 00:24:16,800 --> 00:24:20,520 Speaker 1: at least not yet, Richard. We're trying, though. We just 538 00:24:20,560 --> 00:24:22,680 Speaker 1: want to be like Richard. Yeah, I mean, seriously, how cool? 539 00:24:22,760 --> 00:24:24,640 Speaker 1: Is that? So awesome? I get so much joy out 540 00:24:24,640 --> 00:24:26,840 Speaker 1: of seeing someone's side hustle turn into their full time 541 00:24:26,840 --> 00:24:29,520 Speaker 1: thing because it's so darn successful, so um that those 542 00:24:29,520 --> 00:24:32,320 Speaker 1: stories are always fun to read. I heard something recently 543 00:24:32,320 --> 00:24:34,760 Speaker 1: to Matt about not starting something unless you're willing to 544 00:24:34,760 --> 00:24:36,920 Speaker 1: give it a solid go of at least five years, 545 00:24:37,160 --> 00:24:38,919 Speaker 1: and I think there's so much truth to that, right, 546 00:24:39,200 --> 00:24:42,760 Speaker 1: Like success doesn't happen overnight. And you know, Richard saw 547 00:24:42,760 --> 00:24:44,239 Speaker 1: this to a couple of years. He's like, all right, 548 00:24:44,440 --> 00:24:46,119 Speaker 1: two years is pretty quick to be able to make 549 00:24:46,119 --> 00:24:48,040 Speaker 1: that your full time gig. Oftentimes, if you want to 550 00:24:48,040 --> 00:24:50,159 Speaker 1: start a side hustle and you really really want it 551 00:24:50,160 --> 00:24:53,359 Speaker 1: to be successful, you gotta commit for quite a while. Um, 552 00:24:53,400 --> 00:24:55,040 Speaker 1: if you give it six months or a year or 553 00:24:55,080 --> 00:24:58,159 Speaker 1: two years even, usually that's not enough time to build 554 00:24:58,200 --> 00:25:00,520 Speaker 1: something that is going to allow you to escape your 555 00:25:00,600 --> 00:25:02,800 Speaker 1: day job. But if you're passionate enough about it, I 556 00:25:02,840 --> 00:25:04,800 Speaker 1: feel like for for a lot of people, that five 557 00:25:04,880 --> 00:25:06,800 Speaker 1: years is gonna go by quick as you're building it 558 00:25:06,880 --> 00:25:08,800 Speaker 1: up so that you can, you know, escape and go 559 00:25:08,880 --> 00:25:10,440 Speaker 1: do that full time. I feel like that was something 560 00:25:10,440 --> 00:25:14,960 Speaker 1: that was written by a boomer versus like millennials and 561 00:25:15,040 --> 00:25:17,320 Speaker 1: gen ze ears are like, dude, five years, that may 562 00:25:17,320 --> 00:25:20,119 Speaker 1: as well be an eternity. But I will agree with that. 563 00:25:20,160 --> 00:25:22,000 Speaker 1: I mean, there's a good chance that it probably will 564 00:25:22,040 --> 00:25:23,720 Speaker 1: take at least longer than you think it will. And 565 00:25:23,720 --> 00:25:25,760 Speaker 1: so yeah, you mean, I realize how close you are 566 00:25:25,840 --> 00:25:28,720 Speaker 1: to actually turning a profit or realizing something that will 567 00:25:28,760 --> 00:25:31,600 Speaker 1: completely change how you're able to do business, right, getting 568 00:25:31,600 --> 00:25:34,600 Speaker 1: on Oprah's radar or something like that. Exactly. Well, I 569 00:25:34,600 --> 00:25:36,359 Speaker 1: think your TikTok channel, though, Matt, is going to take 570 00:25:36,400 --> 00:25:38,119 Speaker 1: off way quicker than five years. I'm just waiting on 571 00:25:38,160 --> 00:25:42,200 Speaker 1: you to to join Clubhouse, which we haven't talked about. 572 00:25:42,200 --> 00:25:43,639 Speaker 1: By the way, Yeah, I don't think we're gonna do that. 573 00:25:45,160 --> 00:25:47,640 Speaker 1: I wanted to mention real quick. A note on healthcare, 574 00:25:47,840 --> 00:25:51,320 Speaker 1: open enrollment ended back in December, but Joe Biden signed 575 00:25:51,359 --> 00:25:54,920 Speaker 1: an executive order which will fire things back up. Open 576 00:25:55,000 --> 00:25:59,680 Speaker 1: enrollment will begin this Monday, February uh and and three 577 00:25:59,720 --> 00:26:02,879 Speaker 1: months later on May fift As millions of folks have 578 00:26:02,960 --> 00:26:05,560 Speaker 1: lost their jobs due to COVID, that also means millions 579 00:26:05,560 --> 00:26:08,000 Speaker 1: have also likely lost their health care since so many 580 00:26:08,040 --> 00:26:10,520 Speaker 1: people get their health care through their employer, and so 581 00:26:10,640 --> 00:26:12,280 Speaker 1: keep an eye out for that if you are in 582 00:26:12,280 --> 00:26:14,439 Speaker 1: that situation. Just what we want you to know that 583 00:26:14,480 --> 00:26:16,639 Speaker 1: it's not a scam You're used to seeing open enrollment 584 00:26:16,640 --> 00:26:18,320 Speaker 1: typically towards the end of the year, but now you're 585 00:26:18,320 --> 00:26:19,840 Speaker 1: seeing it at the beginning of the year. What's going 586 00:26:19,880 --> 00:26:22,280 Speaker 1: on with that? It's legit, and so make sure that 587 00:26:22,359 --> 00:26:24,720 Speaker 1: if you do have questions or you're looking for more information, 588 00:26:24,960 --> 00:26:26,920 Speaker 1: even if you're looking to switch providers, that's something that 589 00:26:26,920 --> 00:26:28,959 Speaker 1: you can do. Now. This is open to to anybody 590 00:26:29,000 --> 00:26:32,040 Speaker 1: who even now has a plan through the marketplace. You 591 00:26:32,080 --> 00:26:33,960 Speaker 1: can actually switch plans as well. So head over to 592 00:26:34,000 --> 00:26:36,960 Speaker 1: healthcare dot gov for more information. There there you go. 593 00:26:37,119 --> 00:26:39,240 Speaker 1: All right, let's quickly, Matt before we end this episode, 594 00:26:39,280 --> 00:26:42,800 Speaker 1: let's talk about Valentine's Day. It's coming up this weekend, right, 595 00:26:42,960 --> 00:26:45,040 Speaker 1: and I kind of wanted to know, Yeah, what's your 596 00:26:45,040 --> 00:26:47,080 Speaker 1: take on Valentine's Day? And and maybe do we have 597 00:26:47,119 --> 00:26:49,840 Speaker 1: any like money saving information for our listeners when it 598 00:26:49,840 --> 00:26:52,680 Speaker 1: comes to uh taking care of their significant other, showing 599 00:26:52,680 --> 00:26:54,800 Speaker 1: them that they care this Valentine's Day. Well, what I 600 00:26:54,840 --> 00:26:57,080 Speaker 1: think of when it comes to Valentine's Day is up 601 00:26:57,119 --> 00:27:00,000 Speaker 1: the street from us, on the corner. Oftentimes they say, 602 00:27:00,080 --> 00:27:02,919 Speaker 1: up these tents and there are these giant stuffed animals 603 00:27:02,960 --> 00:27:05,879 Speaker 1: sitting in like these giant baskets. And they're full of candy. 604 00:27:06,119 --> 00:27:08,440 Speaker 1: They're wrapped in plastic and I don't even want to 605 00:27:08,480 --> 00:27:10,600 Speaker 1: know how much those things go for, but I'm guessing 606 00:27:10,640 --> 00:27:12,600 Speaker 1: they go for a lot of money because folks were like, 607 00:27:12,640 --> 00:27:15,560 Speaker 1: oh crap, it'suntin. They pull over and they buy something. 608 00:27:16,280 --> 00:27:18,159 Speaker 1: But that's the kind of Valentine's Day that you and 609 00:27:18,200 --> 00:27:21,359 Speaker 1: I try to steer away from. Right, Like our family. 610 00:27:21,400 --> 00:27:23,960 Speaker 1: It's not that I'm against love or sharing that. You 611 00:27:24,000 --> 00:27:26,239 Speaker 1: know that I love my family with them, it's just 612 00:27:26,440 --> 00:27:30,040 Speaker 1: the consumption associated with it, right, And in particular, I 613 00:27:30,040 --> 00:27:32,520 Speaker 1: think when it comes to like with kids, you know, 614 00:27:32,560 --> 00:27:34,520 Speaker 1: they see those things on the side of the road 615 00:27:34,640 --> 00:27:37,639 Speaker 1: or they see some of the different things that is 616 00:27:37,680 --> 00:27:40,600 Speaker 1: encouraged by our culture. And so in my mind, I 617 00:27:40,640 --> 00:27:42,560 Speaker 1: think what's important is that we make sure that we 618 00:27:42,720 --> 00:27:46,119 Speaker 1: do something like something, you know, even if it's just 619 00:27:46,160 --> 00:27:48,159 Speaker 1: sharing with them how much we love them, something like that. 620 00:27:48,240 --> 00:27:49,800 Speaker 1: Even just like writing a letter like that only takes 621 00:27:49,800 --> 00:27:53,159 Speaker 1: a few minutes sitting down. Uh. My kids love seeing 622 00:27:53,600 --> 00:27:57,480 Speaker 1: cursive handwriting, even though they can't really read it. Uh, 623 00:27:57,760 --> 00:27:59,240 Speaker 1: and I have to they're like, what's that letter? I'm like, 624 00:27:59,280 --> 00:28:02,240 Speaker 1: I'm sorry, it's kind Uh, it's how daddy writes cursa um, 625 00:28:02,280 --> 00:28:04,480 Speaker 1: but even something as small as that totally free, but 626 00:28:04,520 --> 00:28:07,560 Speaker 1: it still makes it clear that they're loved. And I 627 00:28:07,560 --> 00:28:09,760 Speaker 1: think it's our responsibility, certainly to make sure that we 628 00:28:09,800 --> 00:28:12,720 Speaker 1: do that, not necessarily to buy something way over the 629 00:28:12,760 --> 00:28:15,720 Speaker 1: top as part of that consumption fueled lifestyle. You know, Yeah, 630 00:28:15,760 --> 00:28:18,639 Speaker 1: I agree. And Valentine's Day for family and I, we 631 00:28:18,720 --> 00:28:20,760 Speaker 1: just have not really given a much thought over the years. 632 00:28:20,760 --> 00:28:22,680 Speaker 1: We haven't done much for it. I try to get 633 00:28:22,680 --> 00:28:25,000 Speaker 1: her flowers on the rag as opposed to getting her 634 00:28:25,040 --> 00:28:28,119 Speaker 1: this like massive bouquet like when they're special day, when 635 00:28:28,119 --> 00:28:31,520 Speaker 1: they're especially pricey, exactly, exactly. And I think that's another 636 00:28:31,520 --> 00:28:33,440 Speaker 1: thing people need to know, is that like sometimes going 637 00:28:33,440 --> 00:28:35,640 Speaker 1: out to eat or getting flowers right now is going 638 00:28:35,680 --> 00:28:37,720 Speaker 1: to cost It's gonna cost a whole lot more this weekend. 639 00:28:37,720 --> 00:28:39,400 Speaker 1: It's gonna come with the premium. And so maybe yeah, 640 00:28:39,440 --> 00:28:41,360 Speaker 1: write that sweet note and be like we're going out 641 00:28:41,400 --> 00:28:44,880 Speaker 1: to dinner a week from now and when we don't 642 00:28:44,880 --> 00:28:47,479 Speaker 1: have to worry about the masks as much exactly. And 643 00:28:47,800 --> 00:28:50,240 Speaker 1: Katie and our Facebook group mentioned getting fifty cent or 644 00:28:50,280 --> 00:28:53,040 Speaker 1: one dollar cards at Dollar Tree Trader Joe's also I 645 00:28:53,120 --> 00:28:55,320 Speaker 1: mentioned this before on the show. Has excellent cheap cards. 646 00:28:55,520 --> 00:28:57,840 Speaker 1: They're just like, so many ways to make your significant 647 00:28:57,840 --> 00:29:00,800 Speaker 1: other feel special without dropping a ton of money on 648 00:29:00,800 --> 00:29:02,400 Speaker 1: one day. You don't want to be the kind of 649 00:29:02,400 --> 00:29:04,360 Speaker 1: person that, like, if you're used to celebrating it together, 650 00:29:04,480 --> 00:29:07,760 Speaker 1: that let's Valentine's Day slip by completely and you're like, oh, no, 651 00:29:07,920 --> 00:29:10,120 Speaker 1: we don't celebrate that anymore, Like, but like find a 652 00:29:10,120 --> 00:29:12,440 Speaker 1: way to talk about it together and say, hey, like 653 00:29:12,520 --> 00:29:15,240 Speaker 1: the way we've been doing it, maybe it wasn't cost effective. 654 00:29:15,400 --> 00:29:17,880 Speaker 1: Maybe we can create our own Valentine's Day tradition that 655 00:29:18,440 --> 00:29:20,320 Speaker 1: it's like a picnic in the park or something like that. 656 00:29:20,360 --> 00:29:22,400 Speaker 1: There's just yeah, so many ways again to do it 657 00:29:22,840 --> 00:29:25,280 Speaker 1: for cheaper free. And I want to encourage people in 658 00:29:25,280 --> 00:29:27,240 Speaker 1: that direction, because yeah, you don't want to be the 659 00:29:27,280 --> 00:29:30,680 Speaker 1: person buying the giant Teddy Bear because you forgot And 660 00:29:30,680 --> 00:29:33,720 Speaker 1: there's this high expectation placed on a holiday where it's 661 00:29:33,760 --> 00:29:36,440 Speaker 1: kind of manufactured in a way right exatly, it's just 662 00:29:36,440 --> 00:29:38,520 Speaker 1: not it's not about the consumption of it. It's I mean, 663 00:29:38,640 --> 00:29:41,760 Speaker 1: who actually sees that and and where they know that 664 00:29:41,760 --> 00:29:44,560 Speaker 1: maybe there's significant other but zero thought into it and 665 00:29:44,600 --> 00:29:46,280 Speaker 1: actually it's like, oh yeah, that's that's actually what I 666 00:29:46,280 --> 00:29:48,040 Speaker 1: want right now. Like what they want is the thought 667 00:29:48,080 --> 00:29:51,400 Speaker 1: and the time and the effort right that goes into it. 668 00:29:51,640 --> 00:29:53,400 Speaker 1: And so yeah, I think what we're encouraging folks to 669 00:29:53,400 --> 00:29:55,280 Speaker 1: do is like we don't want folks to be grinches, 670 00:29:55,400 --> 00:29:57,280 Speaker 1: right and just to like shut it down. We'd rather 671 00:29:57,320 --> 00:30:00,640 Speaker 1: see folks take proactive steps where like you said, you 672 00:30:00,760 --> 00:30:02,800 Speaker 1: like they're kind of coming up with their own thing, uh, 673 00:30:02,840 --> 00:30:04,640 Speaker 1: and not just shutting it down. Because if you're just 674 00:30:04,640 --> 00:30:06,680 Speaker 1: shutting it down, then it's like, well, what's what's going 675 00:30:06,720 --> 00:30:09,840 Speaker 1: on here? Like are we on the rocks like something? 676 00:30:09,880 --> 00:30:11,960 Speaker 1: Something feels weird? Right? Yeah. We don't want to cause 677 00:30:12,000 --> 00:30:15,120 Speaker 1: you any relationship harm here. Yeah, I don't don't send 678 00:30:15,120 --> 00:30:18,520 Speaker 1: his emails if if you're like Matt Joel said, you 679 00:30:18,520 --> 00:30:20,760 Speaker 1: don't need to buy this. Yeah, if you screw up 680 00:30:20,760 --> 00:30:22,800 Speaker 1: your relationship, that's on you, that's not on us, Okay, 681 00:30:22,880 --> 00:30:24,560 Speaker 1: But there are ways to do it. Just know this. 682 00:30:24,600 --> 00:30:26,040 Speaker 1: There are ways to do it where you're not spending 683 00:30:26,040 --> 00:30:29,080 Speaker 1: too much money and you still show your your loved one, 684 00:30:29,160 --> 00:30:31,360 Speaker 1: your partner, your kids that you care that you love them. 685 00:30:31,400 --> 00:30:33,440 Speaker 1: That's right, all right? Well, Matt that's gonna do it 686 00:30:33,560 --> 00:30:36,080 Speaker 1: for this episode. For folks at once show notes for 687 00:30:36,120 --> 00:30:37,640 Speaker 1: this episode, where you go to how to money dot com, 688 00:30:37,720 --> 00:30:39,160 Speaker 1: we have links to some of those articles, some of 689 00:30:39,200 --> 00:30:41,840 Speaker 1: those studies that we mentioned. That's right, and so we 690 00:30:41,880 --> 00:30:43,440 Speaker 1: hope you have a great weekend, whether or not it 691 00:30:43,480 --> 00:30:46,120 Speaker 1: does include any Valentine's Day plans. And we'll see you 692 00:30:46,120 --> 00:30:47,800 Speaker 1: back here on Monday where we get to actually sit 693 00:30:47,840 --> 00:30:50,320 Speaker 1: down and talk with Jacob Goldstein about his new book 694 00:30:50,440 --> 00:30:55,200 Speaker 1: about money, About Money. But that's gonna be it for 695 00:30:55,240 --> 00:30:59,040 Speaker 1: this episode until next time, Best Friends, best Friends Out 696 00:31:01,280 --> 00:31:01,320 Speaker 1: m