1 00:00:00,160 --> 00:00:02,640 Speaker 1: Welcome to How the Money. I'm Joel and I and 2 00:00:02,759 --> 00:00:06,560 Speaker 1: Matt's and today we're discussing stupid stock predictions, prices on 3 00:00:06,600 --> 00:00:28,840 Speaker 1: the rise, and getting vaccinated. That's right, dude. You said 4 00:00:28,840 --> 00:00:30,880 Speaker 1: getting vaccinated as one of the stories we're gonna cover, 5 00:00:30,920 --> 00:00:32,839 Speaker 1: and that's because that's a personal one. You and I. 6 00:00:33,120 --> 00:00:36,720 Speaker 1: We just got vaccinated like an hour ago, an hour 7 00:00:36,760 --> 00:00:39,599 Speaker 1: and a half ago, during lunch at the Merced has 8 00:00:39,600 --> 00:00:42,880 Speaker 1: Been Stadium here in Atlanta. That's our mass vaccination site. 9 00:00:42,920 --> 00:00:45,000 Speaker 1: And uh yeah, George is one of those states where 10 00:00:45,560 --> 00:00:47,879 Speaker 1: vaccinations are open to everybody at this point, and so 11 00:00:48,320 --> 00:00:50,839 Speaker 1: we checked this morning. There are some spots open at 12 00:00:50,920 --> 00:00:52,760 Speaker 1: eleven thirty. So you and I jumped up there. We've 13 00:00:52,760 --> 00:00:54,760 Speaker 1: got our vaccines, man, And now you and I were 14 00:00:54,800 --> 00:00:56,960 Speaker 1: doing our part to make sure that our life gets 15 00:00:56,960 --> 00:00:59,920 Speaker 1: back to normal as soon as possible, because that's a 16 00:01:00,040 --> 00:01:01,920 Speaker 1: thing that we're all wanting these days. Yeah, for sure. 17 00:01:02,040 --> 00:01:03,760 Speaker 1: And I was kind of getting a little bit of fomo. 18 00:01:03,880 --> 00:01:07,240 Speaker 1: Some of our friends were like driving aways, like over 19 00:01:07,280 --> 00:01:09,679 Speaker 1: an hour in order to get their first shot, and 20 00:01:09,680 --> 00:01:11,119 Speaker 1: I was like, well, I don't I don't really want 21 00:01:11,120 --> 00:01:13,160 Speaker 1: to drive an hour to get the shot. But we 22 00:01:13,160 --> 00:01:15,480 Speaker 1: didn't have to because the Bends is just doing such 23 00:01:15,520 --> 00:01:19,360 Speaker 1: a good job at bringing thousands of people a day 24 00:01:19,440 --> 00:01:21,920 Speaker 1: into there to get vaccinated. Um, it was a well 25 00:01:21,920 --> 00:01:24,240 Speaker 1: oiled machine. Man, it took very little time. It was 26 00:01:24,280 --> 00:01:27,440 Speaker 1: super easy. Everybody directed us well. And I feel good 27 00:01:27,480 --> 00:01:29,240 Speaker 1: having the first one in, going back in in three 28 00:01:29,280 --> 00:01:31,720 Speaker 1: weeks to get number two. It's just kind of it's 29 00:01:31,880 --> 00:01:35,240 Speaker 1: nice to um be on the way ourselves and as 30 00:01:35,280 --> 00:01:37,800 Speaker 1: a country being on a way towards just having just 31 00:01:37,840 --> 00:01:40,440 Speaker 1: a massive amount of the population vaccine did pretty quickly. 32 00:01:40,440 --> 00:01:42,200 Speaker 1: Did you did you get emotional or anything like when 33 00:01:42,240 --> 00:01:44,679 Speaker 1: they stuck in the arm, not not from like physical pain, 34 00:01:44,760 --> 00:01:46,640 Speaker 1: but just I've heard some folks talk about how they 35 00:01:46,720 --> 00:01:48,680 Speaker 1: kind of like actually kinda they got a little emotional. 36 00:01:48,720 --> 00:01:50,560 Speaker 1: They welled up a little bit because they realized that, man, 37 00:01:50,600 --> 00:01:52,680 Speaker 1: for the past year, this is something that we have 38 00:01:52,760 --> 00:01:55,280 Speaker 1: all kind of collectively together that you know, that we've 39 00:01:55,320 --> 00:01:58,760 Speaker 1: been working against. And you know, they were like, oh, 40 00:01:58,840 --> 00:02:01,400 Speaker 1: finally getting that that for injection and made me realize 41 00:02:01,680 --> 00:02:04,120 Speaker 1: how long we've kind of been under the weight of 42 00:02:04,160 --> 00:02:06,240 Speaker 1: this pandemic. Why I didn't get as emotional as I 43 00:02:06,240 --> 00:02:08,120 Speaker 1: get when I was watched, like it's a wonderful life 44 00:02:08,120 --> 00:02:10,920 Speaker 1: at Christmas or anything like that. But uh, but you 45 00:02:10,960 --> 00:02:12,880 Speaker 1: did start to cry when they when they poked you, Right, 46 00:02:13,200 --> 00:02:17,120 Speaker 1: it hurts. It hurts, actually, like barely felt it. Agreed. Yeah, 47 00:02:17,320 --> 00:02:19,200 Speaker 1: like I don't look at the needles anytime I go 48 00:02:19,240 --> 00:02:21,799 Speaker 1: and get shots or vaccines or whatever. But it must 49 00:02:21,840 --> 00:02:24,160 Speaker 1: have been the tiniest little needle or something like that, 50 00:02:24,200 --> 00:02:26,360 Speaker 1: because I barely I mean, yeah, he was like, all right, 51 00:02:26,360 --> 00:02:28,919 Speaker 1: We're all done. I was like, wait, seriously, I kind 52 00:02:28,919 --> 00:02:30,720 Speaker 1: of wanted it to hurt more, just to like prove 53 00:02:31,120 --> 00:02:33,600 Speaker 1: that I was actually getting a vaccine. Yeah, it's just like, wait, my, 54 00:02:34,080 --> 00:02:36,680 Speaker 1: what what's actually going on here? But needless to say, 55 00:02:36,720 --> 00:02:38,919 Speaker 1: if you are eligible fear vaccine, go get it way 56 00:02:38,919 --> 00:02:42,040 Speaker 1: easier than you might think it is, and we can 57 00:02:42,040 --> 00:02:45,240 Speaker 1: continue down this path towards resuming some sort of normalcy. 58 00:02:45,280 --> 00:02:48,040 Speaker 1: You know, I saw yesterday that it's opening yesterday's opening 59 00:02:48,080 --> 00:02:50,560 Speaker 1: day for baseball. Are you excited about that? Joel? And 60 00:02:50,680 --> 00:02:53,040 Speaker 1: I saw one of the games got postponed because of COVID, 61 00:02:53,080 --> 00:02:56,560 Speaker 1: But yeah, I am excited, such as life. Even though 62 00:02:56,600 --> 00:02:59,120 Speaker 1: I rarely get to watch baseball these days, I like it. 63 00:02:59,400 --> 00:03:01,360 Speaker 1: I like to like every once in a while, and 64 00:03:01,400 --> 00:03:03,160 Speaker 1: I like just knowing that it's happening, even though I 65 00:03:03,160 --> 00:03:05,519 Speaker 1: don't really go to games like I used to or 66 00:03:05,600 --> 00:03:07,520 Speaker 1: watch games like I used to on TV. I'm curious 67 00:03:07,520 --> 00:03:09,400 Speaker 1: if you're excited about maybe going and seeing a game 68 00:03:09,400 --> 00:03:11,120 Speaker 1: in person paying tin bucks for a beer. That's not 69 00:03:11,160 --> 00:03:12,919 Speaker 1: something we've been able to do for a while now. 70 00:03:13,040 --> 00:03:14,760 Speaker 1: So that was the one thing being back in Mercedes 71 00:03:14,800 --> 00:03:16,880 Speaker 1: Bens I was like, man, I'm really excited about going 72 00:03:16,919 --> 00:03:19,080 Speaker 1: to a soccer game one of these days when crowds 73 00:03:19,080 --> 00:03:21,239 Speaker 1: are allowed back in there. But yeah, the pricing on 74 00:03:21,280 --> 00:03:24,840 Speaker 1: the beer is, you know, a little outside my budgetary restrictions. 75 00:03:24,880 --> 00:03:26,800 Speaker 1: That's not well, not at the Benz because you know, 76 00:03:26,840 --> 00:03:30,440 Speaker 1: they affordable, but like in most typical stadiums like baseball 77 00:03:30,560 --> 00:03:34,000 Speaker 1: Dais football stadiums, it's like bucks for for a pint 78 00:03:34,040 --> 00:03:36,280 Speaker 1: of beer. Yeah, and what are hot dogs? And Mercedes 79 00:03:36,280 --> 00:03:37,960 Speaker 1: spends like two bucks. I mean I think it's like 80 00:03:38,000 --> 00:03:40,440 Speaker 1: one dollar. One dollar. They've done a great job at 81 00:03:40,520 --> 00:03:43,520 Speaker 1: keeping the prices on concessions reasonable, so you can actually 82 00:03:43,560 --> 00:03:45,680 Speaker 1: like you're you're spending a lot on the ticket just 83 00:03:45,720 --> 00:03:48,120 Speaker 1: to get in, but then you're not completely fleeced. I 84 00:03:48,120 --> 00:03:50,920 Speaker 1: think it's just saying, which I appreciate. All Right, now 85 00:03:50,960 --> 00:03:53,400 Speaker 1: let's get onto the stories we found interesting this week 86 00:03:53,720 --> 00:03:56,480 Speaker 1: or Friday flight, and let's start with taxes. For folks 87 00:03:56,520 --> 00:03:58,560 Speaker 1: out there who are working on their taxes already, well 88 00:03:58,600 --> 00:04:00,560 Speaker 1: this year, they feel like go getters as opposed to 89 00:04:00,720 --> 00:04:04,000 Speaker 1: procrastinators because of the deadline that was extended. You don't 90 00:04:04,000 --> 00:04:07,240 Speaker 1: actually have to follow your federal taxes until May seventeenth. 91 00:04:07,240 --> 00:04:09,440 Speaker 1: Everybody gets a little pat on the back, exactly. And 92 00:04:09,480 --> 00:04:12,440 Speaker 1: as you're working on those taxes, though, make sure to 93 00:04:12,480 --> 00:04:17,640 Speaker 1: save the receipts that for your PPE expenses, especially if 94 00:04:17,640 --> 00:04:20,800 Speaker 1: you were opting for those fancy s Etsy masks, right, Like, 95 00:04:21,000 --> 00:04:23,360 Speaker 1: I think Etsy has just been booming during the pandemic 96 00:04:23,400 --> 00:04:25,840 Speaker 1: as people are like getting their getting their fancy mask on. 97 00:04:26,160 --> 00:04:28,000 Speaker 1: It adds up to get one of those Sequence masks 98 00:04:28,040 --> 00:04:29,919 Speaker 1: mad as you know, would would I know you like 99 00:04:29,960 --> 00:04:31,880 Speaker 1: to wear from time to time. I would have considered 100 00:04:32,440 --> 00:04:36,080 Speaker 1: like a Japanese salvage denim mask maybe if somebody was 101 00:04:36,120 --> 00:04:37,880 Speaker 1: making those. You know, you kind of like this that 102 00:04:37,880 --> 00:04:39,680 Speaker 1: that that's salid jeans. But yeah, sequence aren't my thing. 103 00:04:39,720 --> 00:04:41,440 Speaker 1: You don't know if I put denim over my face though, 104 00:04:41,520 --> 00:04:44,080 Speaker 1: like it would work though, wouldn't it. It's like super thick. Yeah, 105 00:04:44,080 --> 00:04:48,320 Speaker 1: that's that's true, tight leave. But yeah, the I r 106 00:04:48,400 --> 00:04:51,480 Speaker 1: S just clarified that face masks, hand sanitizer, and disinfecting 107 00:04:51,480 --> 00:04:54,640 Speaker 1: wipes can now be deducted as medical expenses. This is 108 00:04:54,920 --> 00:04:58,400 Speaker 1: extra good news if you're actually able to find disinfecting 109 00:04:58,440 --> 00:05:00,560 Speaker 1: wipes at any point over the past fall months, although 110 00:05:00,600 --> 00:05:02,279 Speaker 1: that's been they've been hard to come by. Yeah, And 111 00:05:02,320 --> 00:05:03,640 Speaker 1: so there are two ways that you can go about 112 00:05:03,680 --> 00:05:06,040 Speaker 1: getting this tax deduction. If you atomize your expenses, all 113 00:05:06,040 --> 00:05:09,920 Speaker 1: of those PPE purchases, those personal protection equipment purchases can 114 00:05:09,920 --> 00:05:12,960 Speaker 1: now just be lumped in with your other qualified medical expenses. 115 00:05:13,440 --> 00:05:15,800 Speaker 1: But if you are like the majority of Americans who 116 00:05:15,839 --> 00:05:18,600 Speaker 1: take the standard deduction, you can also make that PPE 117 00:05:18,839 --> 00:05:21,520 Speaker 1: purchase or get a reimbursement from your h s A 118 00:05:21,760 --> 00:05:24,880 Speaker 1: or your f s A accounts. Uh. This probably isn't 119 00:05:24,880 --> 00:05:27,080 Speaker 1: gonna completely change your taxes, and you know, safe the 120 00:05:27,160 --> 00:05:29,360 Speaker 1: hundreds of dollars, but it can't help you to spin 121 00:05:29,440 --> 00:05:31,680 Speaker 1: down some of those FSA dollars if you know, if 122 00:05:31,720 --> 00:05:34,479 Speaker 1: you're an allerg truth and while we're talking about taxes 123 00:05:34,560 --> 00:05:37,080 Speaker 1: for a minute, Matt, we're gonna talk more about investing 124 00:05:37,080 --> 00:05:39,599 Speaker 1: here in just a second. Well, robin Hood just send 125 00:05:39,760 --> 00:05:43,200 Speaker 1: out an email to people that you use robin hood 126 00:05:43,240 --> 00:05:46,920 Speaker 1: too for investing, to their investors about potential phishing scams 127 00:05:46,920 --> 00:05:50,520 Speaker 1: happening right now. Evidently some folks are receiving a fake 128 00:05:50,560 --> 00:05:54,080 Speaker 1: email with links to tax forms that you're supposed to download, 129 00:05:54,520 --> 00:05:57,880 Speaker 1: and those forms and documents contain malware that will measure 130 00:05:57,960 --> 00:06:00,480 Speaker 1: computer up. So don't do it. If you get an 131 00:06:00,480 --> 00:06:03,719 Speaker 1: email supposedly from robin Hood saying here are your tax forms, 132 00:06:04,200 --> 00:06:07,280 Speaker 1: click on this link, we would suggest you go about 133 00:06:07,360 --> 00:06:09,560 Speaker 1: getting those tax forms another way and not clicking the 134 00:06:09,560 --> 00:06:11,600 Speaker 1: link that's in the email because it could be a scam. 135 00:06:11,800 --> 00:06:13,800 Speaker 1: Al Right, anytime you get an email that's asking you 136 00:06:13,880 --> 00:06:16,719 Speaker 1: to take an action, verify the address of the center 137 00:06:16,800 --> 00:06:18,880 Speaker 1: before clicking. You want to like go go up there 138 00:06:18,880 --> 00:06:20,599 Speaker 1: in the top, click down, and you want to see 139 00:06:20,600 --> 00:06:23,880 Speaker 1: that it's actually from somebody at robin hood dot com, 140 00:06:23,880 --> 00:06:27,960 Speaker 1: not like a fake address, right that it looks like 141 00:06:28,000 --> 00:06:30,120 Speaker 1: it could be from robin hood, but it's like, yeah, 142 00:06:30,160 --> 00:06:34,640 Speaker 1: like robin hood with like exactly that's how I would 143 00:06:34,920 --> 00:06:37,440 Speaker 1: run a scaming organization. You'd be good at that, man, 144 00:06:37,960 --> 00:06:40,839 Speaker 1: don't do it, use your powers for good instead. But basically, 145 00:06:40,880 --> 00:06:42,560 Speaker 1: whatever they're asking you to do, just go straight to 146 00:06:42,600 --> 00:06:44,760 Speaker 1: the source. Go straight to the robin Hood app or 147 00:06:44,880 --> 00:06:46,680 Speaker 1: robin hood dot com and click on the tax form 148 00:06:46,839 --> 00:06:50,440 Speaker 1: links there. Don't click the link inside the email that 149 00:06:50,520 --> 00:06:52,799 Speaker 1: you got sent. Yeah. Evidently a lot of college accounts 150 00:06:52,800 --> 00:06:55,400 Speaker 1: are getting targeted with some of these phishing scams as well. 151 00:06:55,440 --> 00:06:57,840 Speaker 1: So if if you have a dot etu account or 152 00:06:58,000 --> 00:07:00,000 Speaker 1: dot et u email account, make sure to look out 153 00:07:00,000 --> 00:07:02,159 Speaker 1: for those. Uh. And you know, so another robin Hood 154 00:07:02,200 --> 00:07:05,240 Speaker 1: story that the AP reported, robin Hood is cutting the 155 00:07:05,480 --> 00:07:08,800 Speaker 1: celebratory confetti and streamers that figure screen when you make 156 00:07:08,800 --> 00:07:10,560 Speaker 1: your first deposit. A lot of folks out there are 157 00:07:10,560 --> 00:07:15,000 Speaker 1: familiar with the confetti. Robin has been criticized for gamifying investing, 158 00:07:15,360 --> 00:07:18,880 Speaker 1: leading users down a path of of making ill informed 159 00:07:18,920 --> 00:07:22,320 Speaker 1: investment decisions. Uh. You know, we like gamification in the 160 00:07:22,640 --> 00:07:25,200 Speaker 1: area of personal finance, but we have a sort of 161 00:07:25,280 --> 00:07:28,400 Speaker 1: love hate relationship when it comes to investing. And gave 162 00:07:28,440 --> 00:07:31,120 Speaker 1: me fining that right, And so that the confetti on 163 00:07:31,200 --> 00:07:33,040 Speaker 1: robin Hood, on one hand, like it feels like a 164 00:07:33,080 --> 00:07:36,440 Speaker 1: celebration essentially of ignorance. Right, Like many folks are using 165 00:07:36,480 --> 00:07:40,200 Speaker 1: platforms like robin Hood to trade individual stocks within a 166 00:07:40,200 --> 00:07:43,200 Speaker 1: brokerage account, when instead they should be buying and holding 167 00:07:43,240 --> 00:07:46,400 Speaker 1: index funds within a roth ira a h. There was 168 00:07:46,440 --> 00:07:48,680 Speaker 1: a even a Wall Street Journal article that mentioned this 169 00:07:48,800 --> 00:07:52,840 Speaker 1: robin Hood investor quote unquote investor right who literally says 170 00:07:52,880 --> 00:07:56,160 Speaker 1: he doesn't know what the bleep he's doing. That's a 171 00:07:56,240 --> 00:07:59,040 Speaker 1: self censor right there. But he's making money. And he's 172 00:07:59,040 --> 00:08:02,480 Speaker 1: a massed over five thousand followers essentially overnight because he 173 00:08:02,560 --> 00:08:04,840 Speaker 1: happened to make some money within a few days. It's ridiculous. 174 00:08:05,480 --> 00:08:07,920 Speaker 1: Investing is not gambling, but a lot of folks are 175 00:08:07,960 --> 00:08:10,080 Speaker 1: treating it that way now, and so in essence, like 176 00:08:10,120 --> 00:08:12,640 Speaker 1: that's what the confetti on a platform like robin Hood 177 00:08:12,680 --> 00:08:14,960 Speaker 1: represents to us. It makes me think of this cartoon 178 00:08:15,040 --> 00:08:17,360 Speaker 1: math that I've seen before, and there's like two lines, 179 00:08:17,440 --> 00:08:20,400 Speaker 1: one for this guy who's got like the secret to 180 00:08:20,760 --> 00:08:23,040 Speaker 1: a happy life, and this other the other guy who's 181 00:08:23,040 --> 00:08:25,760 Speaker 1: got like the secret saving money on taxes, and everyone's 182 00:08:25,800 --> 00:08:27,880 Speaker 1: in the saving money on taxes line. And I feel 183 00:08:27,920 --> 00:08:30,960 Speaker 1: like everybody's following the like quick money crowd right now 184 00:08:31,080 --> 00:08:34,320 Speaker 1: on TikTok or your favorite social media site. Those are 185 00:08:34,320 --> 00:08:36,160 Speaker 1: the even if they don't know what they're doing, people 186 00:08:36,200 --> 00:08:38,839 Speaker 1: are lined up to try to hear from those people. Uh, 187 00:08:38,880 --> 00:08:41,360 Speaker 1: it seems exciting um and yet a lot of those 188 00:08:41,360 --> 00:08:43,680 Speaker 1: people are going to get burned, and those people don't 189 00:08:43,760 --> 00:08:46,520 Speaker 1: very often reveal the losses that they've endured. At the 190 00:08:46,559 --> 00:08:48,560 Speaker 1: same time, that's true. On the other hand, though, when 191 00:08:48,600 --> 00:08:51,120 Speaker 1: we're talking about the confetti thing, like I understand getting 192 00:08:51,160 --> 00:08:52,600 Speaker 1: rid of that and how it kind of does feel 193 00:08:52,640 --> 00:08:56,880 Speaker 1: like a celebration of ignorance or this over gamification of investing. 194 00:08:57,320 --> 00:08:59,560 Speaker 1: But we've talked before on the show that Vanguard uses 195 00:08:59,600 --> 00:09:02,439 Speaker 1: confetti two when you increase the percentage that you're putting 196 00:09:02,440 --> 00:09:05,880 Speaker 1: into your retirement account. And you know, I've said that, 197 00:09:05,880 --> 00:09:07,400 Speaker 1: actually I thought that was a good thing. It's like 198 00:09:07,600 --> 00:09:11,000 Speaker 1: celebrating this smart move. It's this really small thing that 199 00:09:11,080 --> 00:09:13,359 Speaker 1: does kind of give you some sort of a behavioral 200 00:09:13,400 --> 00:09:16,000 Speaker 1: reward for doing the right thing when it comes to 201 00:09:16,000 --> 00:09:19,160 Speaker 1: to investing more and investing that money is certainly better 202 00:09:19,160 --> 00:09:22,000 Speaker 1: than just blowing the money on junk that you could 203 00:09:22,000 --> 00:09:24,640 Speaker 1: have bought online instead, But you need to make sure 204 00:09:24,720 --> 00:09:27,559 Speaker 1: you're going about investing in the right way. This past Wednesday, 205 00:09:27,600 --> 00:09:31,240 Speaker 1: we covered roth iras on a Bestie episode, and everyone 206 00:09:31,360 --> 00:09:35,800 Speaker 1: should be investing inside of tax sheltered accounts before they're 207 00:09:35,840 --> 00:09:38,320 Speaker 1: investing in a brokerage account. If you like the ease 208 00:09:38,360 --> 00:09:41,280 Speaker 1: of investing that accompanies some of these apps, Like, we 209 00:09:41,360 --> 00:09:43,960 Speaker 1: understand that some of these apps are way easier to 210 00:09:44,080 --> 00:09:46,400 Speaker 1: use than some of the clunky websites, even from some 211 00:09:46,440 --> 00:09:49,040 Speaker 1: of our fay it's like Vanguard and Fidelity, Like love 212 00:09:49,120 --> 00:09:51,000 Speaker 1: those guys, but you know they could get a web 213 00:09:51,040 --> 00:09:54,760 Speaker 1: designer in there or a hundred maybe to like really 214 00:09:54,960 --> 00:09:57,200 Speaker 1: make their platforms easier to use. But if you're into 215 00:09:57,240 --> 00:09:59,640 Speaker 1: the better user experience, check out the m one app. 216 00:10:00,120 --> 00:10:02,240 Speaker 1: We have a write up on our website about that. 217 00:10:02,320 --> 00:10:04,880 Speaker 1: And what makes in one great is that they allow 218 00:10:04,920 --> 00:10:08,280 Speaker 1: you to to invest inside of an IRA, whereas robin 219 00:10:08,320 --> 00:10:10,920 Speaker 1: Hood doesn't give you that option. But no matter which 220 00:10:11,080 --> 00:10:13,640 Speaker 1: low cost app or site you choose, it's crucial to 221 00:10:13,760 --> 00:10:17,680 Speaker 1: avoid the investing mindset that's prevalent right now basically slow 222 00:10:17,720 --> 00:10:20,520 Speaker 1: and steady, not sexy right now, but we think it 223 00:10:20,600 --> 00:10:23,600 Speaker 1: is sexy and that it's actually gonna make you wealthy 224 00:10:23,640 --> 00:10:25,920 Speaker 1: over the long term. Yeah, it's sexy because it will 225 00:10:25,960 --> 00:10:29,199 Speaker 1: make you wealthy exactly not for any other inherent reasons, right, 226 00:10:29,240 --> 00:10:32,720 Speaker 1: Like that's why nobody likes it. It's not flashy at all, 227 00:10:32,760 --> 00:10:34,920 Speaker 1: but that is how you're gonna win with your money. 228 00:10:34,960 --> 00:10:37,400 Speaker 1: And you know, like we're talking about people taking advice 229 00:10:37,480 --> 00:10:40,000 Speaker 1: from other people, right, and how like folks are like 230 00:10:40,040 --> 00:10:42,079 Speaker 1: looking to this guy that happens, you know, happen to 231 00:10:42,080 --> 00:10:44,360 Speaker 1: make a few in ther bucks like in a few days. Really, 232 00:10:44,360 --> 00:10:48,720 Speaker 1: that glorification of speculation is not only confined to tick talkers, right, 233 00:10:48,920 --> 00:10:52,240 Speaker 1: it expands to quote unquote professionals out there. Uh, that's 234 00:10:52,240 --> 00:10:54,040 Speaker 1: what we're gonna talk about next. Also, did you like 235 00:10:54,120 --> 00:10:58,640 Speaker 1: those six dollar words? The glorification of speculation? So let's 236 00:10:58,679 --> 00:11:02,600 Speaker 1: let's talk about stupid stock valuation predictions. If you read 237 00:11:02,640 --> 00:11:05,760 Speaker 1: the financial headlines, often you're gonna see headlines of expert 238 00:11:05,800 --> 00:11:09,160 Speaker 1: investors predicting the future stock price of an individual company. 239 00:11:09,320 --> 00:11:12,120 Speaker 1: And often these predictions have little to no basis in 240 00:11:12,240 --> 00:11:15,200 Speaker 1: actual reality. The Financial Times they just wrote a story 241 00:11:15,200 --> 00:11:18,240 Speaker 1: about a Tesla stock prediction of three thousand dollars a 242 00:11:18,280 --> 00:11:21,079 Speaker 1: share by and and that was made by a now 243 00:11:21,120 --> 00:11:24,480 Speaker 1: famous investment manager, Cathy. Would we always shrug when we 244 00:11:24,480 --> 00:11:26,840 Speaker 1: see these headlines and kind of quickly move on. But 245 00:11:26,920 --> 00:11:29,920 Speaker 1: some people get like those cartoonish dollar signs in their eyes, 246 00:11:29,920 --> 00:11:32,960 Speaker 1: they get they get the dollar face, you know, like 247 00:11:32,960 --> 00:11:36,199 Speaker 1: the dollar mouth emoji pops up when they read these headlines, 248 00:11:36,600 --> 00:11:39,560 Speaker 1: and because they adjust to how they invest based on 249 00:11:39,559 --> 00:11:43,640 Speaker 1: that one person's you know, prophetic utterance. Basically, while it's 250 00:11:43,640 --> 00:11:45,480 Speaker 1: it is a hair better than investing based on the 251 00:11:45,520 --> 00:11:49,120 Speaker 1: advice of somebody who knows nothing who happens to have 252 00:11:49,120 --> 00:11:52,520 Speaker 1: an account on TikTok, it's still a ridiculously poor strategy. 253 00:11:52,559 --> 00:11:55,160 Speaker 1: And so I just know that these forecasts that make 254 00:11:55,200 --> 00:11:58,080 Speaker 1: the headlines have little to no basis in reality. You know, 255 00:11:58,160 --> 00:12:01,880 Speaker 1: often they're based on assumptions, the based on flimsy number models, 256 00:12:02,120 --> 00:12:03,880 Speaker 1: uh and do Oftentimes I feel like it's just kind 257 00:12:03,880 --> 00:12:06,400 Speaker 1: of built around hype because these are often companies that 258 00:12:06,480 --> 00:12:09,360 Speaker 1: these managers and that these companies are invested in themselves, 259 00:12:09,559 --> 00:12:12,280 Speaker 1: and so when so much attention is being focused on 260 00:12:12,320 --> 00:12:16,080 Speaker 1: these individuals, they have the ability to seriously affect the 261 00:12:16,080 --> 00:12:18,880 Speaker 1: price of a stock. And so it's like, yeah, come on, everybody, like, 262 00:12:18,960 --> 00:12:20,640 Speaker 1: jump on board. This is what we wanted to do, 263 00:12:20,679 --> 00:12:22,840 Speaker 1: So come on, please buy into the stock. Yeah, and 264 00:12:22,840 --> 00:12:25,480 Speaker 1: if you make hefty predictions. You stand to benefit if 265 00:12:25,520 --> 00:12:29,640 Speaker 1: other people decide to make make their investing decisions based 266 00:12:29,640 --> 00:12:31,760 Speaker 1: on your guidance. And so it does feel a little 267 00:12:31,800 --> 00:12:33,960 Speaker 1: self serving, and it makes a lot of the headlines. 268 00:12:34,000 --> 00:12:35,760 Speaker 1: And I think there are some people out there who 269 00:12:35,800 --> 00:12:38,360 Speaker 1: are like one. There may be making decisions based on 270 00:12:38,800 --> 00:12:41,120 Speaker 1: something they saw on TikTok and then too, maybe they're 271 00:12:41,160 --> 00:12:43,800 Speaker 1: making decisions based on a headline from somebody who seems 272 00:12:43,880 --> 00:12:47,800 Speaker 1: like a really intelligent investment manager. Um. But there's a 273 00:12:47,880 --> 00:12:50,160 Speaker 1: lot of people out there making predictions. There's a lot 274 00:12:50,160 --> 00:12:52,440 Speaker 1: of headlines to go around, and so you have to 275 00:12:52,520 --> 00:12:55,160 Speaker 1: know the game that you're playing, and we would suggest 276 00:12:55,200 --> 00:12:58,560 Speaker 1: playing the game that eliminates all of those voices and 277 00:12:58,600 --> 00:13:01,959 Speaker 1: allows you to continue you the slow and steady wealth 278 00:13:02,000 --> 00:13:05,840 Speaker 1: building that is far less risky and is actually going 279 00:13:05,880 --> 00:13:08,200 Speaker 1: to build you wealth over the long haul. That's right. Yeah, 280 00:13:08,240 --> 00:13:10,079 Speaker 1: So again, yeah, slow and boring investing is the way 281 00:13:10,120 --> 00:13:12,360 Speaker 1: to go. Uh And we'll say too that both both 282 00:13:12,400 --> 00:13:16,240 Speaker 1: of us are invested nearly in index funds. And that's 283 00:13:16,240 --> 00:13:18,800 Speaker 1: actually something we're gonna talk about next week on Wednesday's episode. 284 00:13:18,800 --> 00:13:21,839 Speaker 1: How it is that we specifically invest our money. We're 285 00:13:21,840 --> 00:13:25,000 Speaker 1: gonna dive into to some specifics there. Yea, all the 286 00:13:25,040 --> 00:13:28,640 Speaker 1: dirty details coming out next week. Awesome, Well, yeah we 287 00:13:28,679 --> 00:13:33,400 Speaker 1: got the non sexy details. Well that'll be a fun episode. 288 00:13:33,400 --> 00:13:34,920 Speaker 1: And yes, we we got more to get to on 289 00:13:34,920 --> 00:13:38,520 Speaker 1: this one though, including getting paid with a wheelbarrel full 290 00:13:38,520 --> 00:13:40,800 Speaker 1: of pennies. That's gonna be our ludicrous headline in the week. 291 00:13:40,840 --> 00:13:42,600 Speaker 1: We'll get to that and more right after this break. 292 00:13:51,600 --> 00:13:53,400 Speaker 1: All right, we're back for the break and here in 293 00:13:53,400 --> 00:13:55,520 Speaker 1: a little bit we're gonna talk about the New World 294 00:13:55,600 --> 00:13:57,920 Speaker 1: Happiness Report that just came out and specifically what it 295 00:13:58,000 --> 00:14:00,280 Speaker 1: is that makes these different countries happy and uting the 296 00:14:00,360 --> 00:14:02,800 Speaker 1: United States. But first, Joel, let's get to our ludicrous 297 00:14:02,840 --> 00:14:05,640 Speaker 1: headline of the week, which is a man demanded his 298 00:14:05,679 --> 00:14:11,920 Speaker 1: final paycheck the auto shop delivered greasy pennies. Dude. We 299 00:14:11,960 --> 00:14:14,360 Speaker 1: saw this last Friday and listener Danny, he sent it 300 00:14:14,360 --> 00:14:16,840 Speaker 1: our way as well. This one's kind of funny, but 301 00:14:16,880 --> 00:14:20,200 Speaker 1: you know, definitely not if you are the dude getting paid. Uh. 302 00:14:20,280 --> 00:14:23,440 Speaker 1: This is yeah, definitely a ludicrous situation. And this happened 303 00:14:23,440 --> 00:14:25,640 Speaker 1: to a guy just south of Atlanta who received his 304 00:14:25,720 --> 00:14:27,920 Speaker 1: last paycheck from the mechanic shop that he worked at, 305 00:14:28,280 --> 00:14:30,600 Speaker 1: and pennies and they dumped it on his driveway, uh 306 00:14:31,000 --> 00:14:33,280 Speaker 1: covered in in the story like it sounds like it 307 00:14:33,320 --> 00:14:35,120 Speaker 1: may have been covered with oil, but like in fact, 308 00:14:35,120 --> 00:14:38,320 Speaker 1: is something stickier and something that's even harder to get off, 309 00:14:38,360 --> 00:14:40,000 Speaker 1: Like like we would just assumed it was going to 310 00:14:40,080 --> 00:14:41,960 Speaker 1: be like oil or you know, oh it came from 311 00:14:42,000 --> 00:14:44,560 Speaker 1: an auto shop, but like, no nies. It's not like 312 00:14:44,560 --> 00:14:46,880 Speaker 1: they just like emptied out the cash register. These were 313 00:14:47,280 --> 00:14:49,400 Speaker 1: new pennies and for them to be greasy, it means 314 00:14:49,400 --> 00:14:51,440 Speaker 1: they added something to that. And honestly, man, this it 315 00:14:51,480 --> 00:14:52,840 Speaker 1: kind of makes me mad, Like this is such a 316 00:14:52,920 --> 00:14:55,560 Speaker 1: jerk move by by this employer, you know, like I guess, 317 00:14:55,720 --> 00:14:57,480 Speaker 1: I don't know. Initially it's like it seems like it's 318 00:14:57,520 --> 00:14:59,200 Speaker 1: kind of funny, but really this is just kind of 319 00:14:59,240 --> 00:15:02,360 Speaker 1: like a way for an employer who's being a bully, 320 00:15:02,760 --> 00:15:06,040 Speaker 1: uh and controlling their employees. It's definitely not the way 321 00:15:06,080 --> 00:15:08,720 Speaker 1: to to treat people. All Right. The only positive spin 322 00:15:08,840 --> 00:15:10,760 Speaker 1: I can think of with this headline is does this 323 00:15:10,800 --> 00:15:12,360 Speaker 1: mean that the coin shortage is over? You know, we 324 00:15:12,360 --> 00:15:14,400 Speaker 1: can we talked about the coin shortage months ago. This 325 00:15:14,440 --> 00:15:16,200 Speaker 1: guy or that employer, he's the one that had all 326 00:15:16,200 --> 00:15:17,840 Speaker 1: the all the pennies. He was hard to go man like, 327 00:15:18,120 --> 00:15:20,560 Speaker 1: so maybe he is is also contributing to something else, 328 00:15:20,560 --> 00:15:24,160 Speaker 1: so it makes him an extra dubious fellow. But we 329 00:15:24,160 --> 00:15:26,240 Speaker 1: we do also believe. I think this is just another 330 00:15:26,640 --> 00:15:29,480 Speaker 1: nail in the coffin of why the penny should be abolished, 331 00:15:29,760 --> 00:15:31,760 Speaker 1: because you can, you can do stuff like this to people, 332 00:15:32,160 --> 00:15:34,400 Speaker 1: and it's just a terrible way to get paid. It's 333 00:15:34,440 --> 00:15:36,800 Speaker 1: a terrible way to pay people Like we just don't 334 00:15:36,840 --> 00:15:39,200 Speaker 1: need pennies anymore in our lives, and they cost more 335 00:15:39,240 --> 00:15:41,200 Speaker 1: to make than they're actually worth. I mean, there's just 336 00:15:41,600 --> 00:15:44,240 Speaker 1: so many reasons to ditch the penny. I think, what, 337 00:15:44,240 --> 00:15:46,840 Speaker 1: what does it cost like one point seven cents to 338 00:15:46,920 --> 00:15:50,160 Speaker 1: make a sent which just feels absurd, It feels backwards. Yeah, 339 00:15:50,160 --> 00:15:52,520 Speaker 1: it's like, yeah, I can't remember the last thing I 340 00:15:52,520 --> 00:15:55,360 Speaker 1: did back that backwards, but like yeah, and maybe we 341 00:15:55,400 --> 00:15:56,840 Speaker 1: can get rid of the nickel while we're at it too, 342 00:15:56,880 --> 00:15:58,480 Speaker 1: I don't know, but at least the penny, I'll settle 343 00:15:58,520 --> 00:16:01,400 Speaker 1: for that, and um actually mad. It does remind me 344 00:16:01,400 --> 00:16:04,320 Speaker 1: though that I like made a bet with a coworker 345 00:16:04,440 --> 00:16:07,040 Speaker 1: one time about whether one of our favorite baseball players 346 00:16:07,080 --> 00:16:08,800 Speaker 1: was going to make the All Star Game, and he 347 00:16:08,880 --> 00:16:10,560 Speaker 1: had like an awesome start to the season, and I 348 00:16:10,560 --> 00:16:12,120 Speaker 1: was like, oh, he's totally making the All Star Game 349 00:16:12,480 --> 00:16:15,160 Speaker 1: and uh, and then he he did eventually make the 350 00:16:15,160 --> 00:16:17,000 Speaker 1: All Star Game, even though he probably shouldn't because he 351 00:16:17,040 --> 00:16:20,240 Speaker 1: was really bad the rest of that first half of 352 00:16:20,240 --> 00:16:22,480 Speaker 1: the season. But my buddy was like so mad because 353 00:16:22,480 --> 00:16:24,000 Speaker 1: he really thought he shouldn't make it that he paid 354 00:16:24,040 --> 00:16:27,760 Speaker 1: me in pennies. A hundred dollars with the pennies and uh, 355 00:16:27,960 --> 00:16:30,000 Speaker 1: a hundred dollars for the pennies. It stinks in and 356 00:16:30,000 --> 00:16:32,160 Speaker 1: of itself, but it's way, way, way worse to get 357 00:16:33,240 --> 00:16:36,400 Speaker 1: dollars with the pennies, right, So that's sen thousand pennies. Yeah. Yeah, 358 00:16:36,600 --> 00:16:38,200 Speaker 1: at least they weren't greasy. Right now, you just take 359 00:16:38,280 --> 00:16:39,560 Speaker 1: him to the bank and just kind of have them 360 00:16:39,560 --> 00:16:42,440 Speaker 1: depositive started rolling him myself over to did you really, Yeah, well, 361 00:16:42,440 --> 00:16:45,120 Speaker 1: banks sometimes I'll charge you to roll pennies, so not great. Well, 362 00:16:45,120 --> 00:16:46,560 Speaker 1: a lot of credit unions will do it for free 363 00:16:46,680 --> 00:16:48,640 Speaker 1: because they got the machine. Yeah that's true, but then 364 00:16:48,680 --> 00:16:49,960 Speaker 1: you have to stand there for like an hour while 365 00:16:50,440 --> 00:16:53,000 Speaker 1: while they do it. Yeah, so that was kind of funny. 366 00:16:53,040 --> 00:16:55,440 Speaker 1: I've I've been in this guy's position, and I feel 367 00:16:55,480 --> 00:16:57,480 Speaker 1: is it feels paying a little bit? Yeah, well, you know, 368 00:16:57,480 --> 00:17:00,080 Speaker 1: getting paid and greasy pennies is stressful. Something else that 369 00:17:00,120 --> 00:17:03,360 Speaker 1: might be stressful. Our prices on the rise, man commodity 370 00:17:03,400 --> 00:17:06,200 Speaker 1: prices in particular, prices on everything from toilet paper to 371 00:17:06,280 --> 00:17:09,399 Speaker 1: cereal to bacon. Don't say bacon. Yeah, you need to 372 00:17:09,480 --> 00:17:12,120 Speaker 1: go ahead, stock up now, get in the freezer. It's 373 00:17:12,119 --> 00:17:13,919 Speaker 1: all on the rise right now. Even the price of 374 00:17:13,960 --> 00:17:16,840 Speaker 1: cardboard boxes is on the rise. As demand for products 375 00:17:16,880 --> 00:17:19,960 Speaker 1: being shipped to our door continues to skyrocket, and and 376 00:17:20,000 --> 00:17:23,440 Speaker 1: so as the economic rebound continues to strengthen, we could 377 00:17:23,680 --> 00:17:26,360 Speaker 1: continue to see prices rise on many of the stables 378 00:17:26,359 --> 00:17:28,919 Speaker 1: that were used to buying. Uh. And some economists have 379 00:17:29,200 --> 00:17:32,960 Speaker 1: expressed worry about inflation becoming a major issue in the future, 380 00:17:32,960 --> 00:17:36,160 Speaker 1: which means prices would rise at an even higher clip 381 00:17:36,359 --> 00:17:38,600 Speaker 1: and our spending dollars wouldn't go quite as far as 382 00:17:38,600 --> 00:17:41,040 Speaker 1: they used to. Yeah. And while the reports of certain 383 00:17:41,080 --> 00:17:44,840 Speaker 1: manufacturers raising the price of the goods that they sell 384 00:17:44,920 --> 00:17:47,320 Speaker 1: start to trickle in, the jury is still out really 385 00:17:47,359 --> 00:17:50,120 Speaker 1: on where inflation is headed in our country overall. Even 386 00:17:50,119 --> 00:17:53,640 Speaker 1: though again a lot of prognostications about what's gonna happen 387 00:17:53,680 --> 00:17:57,040 Speaker 1: with inflation to really we don't know yet. Um, it's 388 00:17:57,040 --> 00:17:58,879 Speaker 1: still important though, to take note and to change your 389 00:17:58,880 --> 00:18:01,800 Speaker 1: budget accordingly as prices do start to shift. Like, if 390 00:18:01,840 --> 00:18:04,280 Speaker 1: you're a big bacon person, if you have it like 391 00:18:04,320 --> 00:18:06,119 Speaker 1: three times a week, you wanna had a couple of 392 00:18:06,119 --> 00:18:08,040 Speaker 1: bucks extra into your grocery budget because of it, right, 393 00:18:08,359 --> 00:18:11,359 Speaker 1: And uh, yeah, because surveys and studies are actually showing 394 00:18:11,600 --> 00:18:14,480 Speaker 1: that while Covid took the top slot on things that 395 00:18:14,560 --> 00:18:18,160 Speaker 1: Americans have been stressed about recently last year in particular, 396 00:18:18,359 --> 00:18:21,600 Speaker 1: as the pandemic is beginning to wane, Matt COVID's not 397 00:18:21,920 --> 00:18:25,120 Speaker 1: taking the top worries spot anymore. It's back to money. Yeah, 398 00:18:25,200 --> 00:18:27,800 Speaker 1: And so people are stressed about money. And while we 399 00:18:27,840 --> 00:18:31,280 Speaker 1: don't have much control over what the federal government spends 400 00:18:31,440 --> 00:18:34,240 Speaker 1: when it comes to our collective tax dollars, we as 401 00:18:34,280 --> 00:18:37,920 Speaker 1: individuals have a a say on what we spend our 402 00:18:37,960 --> 00:18:40,320 Speaker 1: money on. And as prices are rising, I think we're 403 00:18:40,359 --> 00:18:43,159 Speaker 1: just gonna have to pay a little more attention to 404 00:18:43,400 --> 00:18:46,240 Speaker 1: our budget to make sure that we're not budgeting for 405 00:18:46,400 --> 00:18:48,880 Speaker 1: last year's prices essentially. Yeah, and if we do see 406 00:18:48,880 --> 00:18:50,840 Speaker 1: prices go up to to realize that we have control 407 00:18:51,000 --> 00:18:54,000 Speaker 1: over what we spend our money on. Right, Like the 408 00:18:54,040 --> 00:18:56,840 Speaker 1: demand that we have or should have for goods should 409 00:18:56,840 --> 00:18:59,800 Speaker 1: be elastic, Right, It's not something that's fixed. Uh, it's 410 00:18:59,800 --> 00:19:01,640 Speaker 1: not just because it's something that we've always done, doesn't 411 00:19:01,640 --> 00:19:03,600 Speaker 1: mean we continue down that path and then just end 412 00:19:03,680 --> 00:19:05,439 Speaker 1: up spending more of our money on that thing. That's 413 00:19:05,480 --> 00:19:07,000 Speaker 1: one of the great things, yeah, that we that we 414 00:19:07,040 --> 00:19:10,200 Speaker 1: can do is we can substitute items. We can go 415 00:19:10,440 --> 00:19:12,919 Speaker 1: for something that's more off brand or generic if we're 416 00:19:13,000 --> 00:19:14,879 Speaker 1: used to getting the name brand. There's all sorts of 417 00:19:15,000 --> 00:19:17,160 Speaker 1: ways you can go vegan. You can go vegan, I mean, 418 00:19:17,160 --> 00:19:18,840 Speaker 1: like seriously, there's so many options. But just so you 419 00:19:18,880 --> 00:19:20,960 Speaker 1: would never do that. I would never do that. You 420 00:19:20,960 --> 00:19:22,720 Speaker 1: could cut bacon out of your life entirely, though, and 421 00:19:22,760 --> 00:19:24,440 Speaker 1: if and if they can got to a certain prix point, 422 00:19:24,640 --> 00:19:26,440 Speaker 1: I would. And it's not like I eat that much bacon, 423 00:19:26,520 --> 00:19:28,400 Speaker 1: but like I would cut it out of my life. 424 00:19:28,400 --> 00:19:31,520 Speaker 1: If it was twelve dollars a package for bacon, I 425 00:19:31,520 --> 00:19:34,399 Speaker 1: would probably be like cool, not really doing bacon almost 426 00:19:34,480 --> 00:19:36,840 Speaker 1: at any point. Um, And yeah, I think like that 427 00:19:37,000 --> 00:19:38,840 Speaker 1: that's the power we have we don't just have to 428 00:19:38,920 --> 00:19:41,600 Speaker 1: keep purchasing based on the way that we used to purchase. 429 00:19:41,640 --> 00:19:45,000 Speaker 1: As prices change, we can change At the same time. 430 00:19:45,080 --> 00:19:47,640 Speaker 1: Do they make a tofu bacon? I don't even want 431 00:19:47,640 --> 00:19:50,040 Speaker 1: to know. I guess you could call it like to 432 00:19:50,240 --> 00:19:53,920 Speaker 1: facon or just facing which makes you want to eat 433 00:19:53,920 --> 00:19:55,679 Speaker 1: it even less if it's called facon. I know they 434 00:19:55,720 --> 00:19:57,400 Speaker 1: have like turkey bacon, and it just makes me think 435 00:19:57,520 --> 00:20:00,600 Speaker 1: that like opening Breaking Bad episode it where he like, 436 00:20:00,760 --> 00:20:03,159 Speaker 1: it's his birthday and his wife makes turkey bacon and 437 00:20:03,200 --> 00:20:07,040 Speaker 1: he's just like, he's just depressed. So it's not the 438 00:20:07,080 --> 00:20:09,199 Speaker 1: same that depressed me too, might make you sad. Uh. 439 00:20:09,280 --> 00:20:11,200 Speaker 1: And on that note a little seguay, Let's talk about 440 00:20:11,200 --> 00:20:14,199 Speaker 1: happiness for a second here. The World Happiness Report. It 441 00:20:14,240 --> 00:20:16,440 Speaker 1: comes out in March of every year, and it highlights 442 00:20:16,440 --> 00:20:18,880 Speaker 1: the happiest countries in the world by deciphering emotional well 443 00:20:18,920 --> 00:20:22,240 Speaker 1: being in life satisfaction. It's a complex enough model that 444 00:20:22,240 --> 00:20:24,080 Speaker 1: that goes beyond just asking people at an't even give 445 00:20:24,080 --> 00:20:25,920 Speaker 1: a moment you know it's like how happy they are. 446 00:20:26,320 --> 00:20:27,960 Speaker 1: You're not gonna get great results that way. It's like, 447 00:20:27,960 --> 00:20:29,960 Speaker 1: how do how do you feel right now? Okay? Yeah, 448 00:20:30,000 --> 00:20:31,880 Speaker 1: they go pretty in depth with it, and there are 449 00:20:31,920 --> 00:20:34,439 Speaker 1: some interesting things in there that we can learn that 450 00:20:34,440 --> 00:20:36,240 Speaker 1: we can learn from the report. The happiest countries in 451 00:20:36,240 --> 00:20:38,720 Speaker 1: the world are and have been for a number of years, 452 00:20:38,960 --> 00:20:43,280 Speaker 1: many of the Scandinavian countries. Finland is number one, with Denmark, Switzerland, 453 00:20:43,400 --> 00:20:46,520 Speaker 1: Iceland and the Netherlands following, and US here in the 454 00:20:46,600 --> 00:20:49,480 Speaker 1: United States were nineteenth on the list of happiest countries, 455 00:20:49,600 --> 00:20:51,280 Speaker 1: which you know, we're not in the top, but I 456 00:20:51,280 --> 00:20:53,800 Speaker 1: feel like nineteenth is respectable given all the countries of 457 00:20:53,840 --> 00:20:56,360 Speaker 1: the world, right and my people, I think of the Norwegians, 458 00:20:56,359 --> 00:20:58,359 Speaker 1: I believe we were number seven on the list, so 459 00:20:58,760 --> 00:21:01,679 Speaker 1: more powered among people over there. Uh. Yeah, it was 460 00:21:01,720 --> 00:21:04,119 Speaker 1: interesting to kind of see our countries ranking, and I 461 00:21:04,119 --> 00:21:06,040 Speaker 1: guess you're right, like Matt, with a hundred and fifty 462 00:21:06,160 --> 00:21:10,040 Speaker 1: countries in this report, isn't isn't too bad. But I 463 00:21:10,080 --> 00:21:11,760 Speaker 1: think one of the key things to take away from 464 00:21:11,800 --> 00:21:15,560 Speaker 1: the report is that the most economically successful countries the 465 00:21:15,560 --> 00:21:18,840 Speaker 1: ones with the highest GDP. They're not at the top 466 00:21:18,920 --> 00:21:21,399 Speaker 1: of the list, and some people might just automatically or 467 00:21:21,440 --> 00:21:24,080 Speaker 1: instinctively assume that would be the case. Yeah, like top 468 00:21:24,160 --> 00:21:26,880 Speaker 1: five richest countries should be the top five happiest countries. Yeah, 469 00:21:26,920 --> 00:21:28,639 Speaker 1: or at least you know, some somewhere thereabouts in the 470 00:21:28,640 --> 00:21:31,680 Speaker 1: automatic assumption. Yes, but that's not the case, right, And 471 00:21:32,000 --> 00:21:34,960 Speaker 1: in fact, more than half of the world's largest economies 472 00:21:35,200 --> 00:21:39,080 Speaker 1: are outside of the top twenty happiest countries. Money doesn't 473 00:21:39,080 --> 00:21:42,480 Speaker 1: buy happiness, and that is reflected in the data gathered 474 00:21:42,720 --> 00:21:45,399 Speaker 1: at this national and country level. It's also true in 475 00:21:45,440 --> 00:21:48,640 Speaker 1: our own personal lives, right, like, more money isn't always 476 00:21:48,720 --> 00:21:50,920 Speaker 1: the solution when it comes to living a better life. 477 00:21:51,240 --> 00:21:55,040 Speaker 1: And in fact, sometimes it's the overpursuit of money that 478 00:21:55,160 --> 00:21:58,080 Speaker 1: leads to um a lot of the problems that we incur. Sure, 479 00:21:58,119 --> 00:21:59,960 Speaker 1: I think we could easily see how that's the case 480 00:22:00,000 --> 00:22:02,200 Speaker 1: in the United States. Rights, It's almost like we have 481 00:22:02,920 --> 00:22:07,840 Speaker 1: problems exactly. It's it's true, dude. Although I will say, 482 00:22:07,960 --> 00:22:09,560 Speaker 1: you know, there's sort of like a baseline that you 483 00:22:09,600 --> 00:22:11,600 Speaker 1: need to have when it comes to, you know, the 484 00:22:11,640 --> 00:22:14,680 Speaker 1: wealth of a country. There is some correlation between economic 485 00:22:14,720 --> 00:22:17,879 Speaker 1: freedom and happiness and the Yeah, the World Happiness Report 486 00:22:18,160 --> 00:22:20,440 Speaker 1: as well as our friend the physician on fire, he 487 00:22:20,440 --> 00:22:22,880 Speaker 1: he broke this out, uh and concluded that there are 488 00:22:23,000 --> 00:22:26,600 Speaker 1: other important aspects that we should focus on, for instance, 489 00:22:26,600 --> 00:22:29,159 Speaker 1: like connecting with friends and family. Right, we like, we 490 00:22:29,240 --> 00:22:33,200 Speaker 1: are social creatures, and the pandemic, along with its social distancing, 491 00:22:33,240 --> 00:22:36,120 Speaker 1: has hampered our ability to relate well with each other, 492 00:22:36,160 --> 00:22:38,439 Speaker 1: you know, to to be able to connect, leading to 493 00:22:38,600 --> 00:22:41,200 Speaker 1: less happiness, especially over the past year. And so as 494 00:22:41,240 --> 00:22:44,120 Speaker 1: important as money is, uh, and as important as money 495 00:22:44,200 --> 00:22:45,720 Speaker 1: is to us on the show, I mean, this is 496 00:22:45,720 --> 00:22:49,080 Speaker 1: why we it's how the money, It's not how to happiness. Uh. 497 00:22:49,200 --> 00:22:52,080 Speaker 1: Money is incredibly important, But that being said, it's important 498 00:22:52,080 --> 00:22:54,199 Speaker 1: to make sure that we're getting our relationships back in 499 00:22:54,280 --> 00:22:57,639 Speaker 1: shape after the twelve months that we've had, not just 500 00:22:57,720 --> 00:22:59,560 Speaker 1: our finances. We can't only focus on our money and 501 00:22:59,560 --> 00:23:01,399 Speaker 1: making sure that we're doing the right things there. We 502 00:23:01,440 --> 00:23:04,600 Speaker 1: need to make sure that we're looking to reconnect, especially 503 00:23:04,640 --> 00:23:06,480 Speaker 1: with our friends and families. And I would say a 504 00:23:06,520 --> 00:23:08,719 Speaker 1: lot of us have probably gotten some new habits, like 505 00:23:08,720 --> 00:23:11,000 Speaker 1: our lives have completely changed, and we're gonna have to 506 00:23:11,280 --> 00:23:13,840 Speaker 1: rework some of those habits so that we can include 507 00:23:13,880 --> 00:23:16,200 Speaker 1: other people back into our lives. As we get vaccinated 508 00:23:16,359 --> 00:23:18,359 Speaker 1: and as things are to get a little more normal, 509 00:23:18,640 --> 00:23:20,159 Speaker 1: is the weather gets warmer, we're gonna still be able 510 00:23:20,160 --> 00:23:21,720 Speaker 1: to do a lot of outdoor hangs and stuff like that, 511 00:23:21,760 --> 00:23:24,520 Speaker 1: which is nice, but you're probably going to have to 512 00:23:24,560 --> 00:23:28,040 Speaker 1: be more proactive when it comes to bringing some of 513 00:23:28,040 --> 00:23:29,879 Speaker 1: those people back in your life, people that you haven't 514 00:23:29,880 --> 00:23:32,199 Speaker 1: seen very much maybe over the past year. It's right, 515 00:23:32,280 --> 00:23:33,760 Speaker 1: and so I think it is going to take some 516 00:23:33,800 --> 00:23:36,720 Speaker 1: thought and some intentionality as we attempt to ramp back 517 00:23:36,800 --> 00:23:38,919 Speaker 1: up some of those relationships that we've been sorely missing. 518 00:23:39,400 --> 00:23:41,600 Speaker 1: And all right, at last story of the day. This 519 00:23:41,600 --> 00:23:46,240 Speaker 1: one is about privacy and about limiting the ads that 520 00:23:46,320 --> 00:23:48,800 Speaker 1: are fed to us when we're online. A few weeks ago, 521 00:23:48,960 --> 00:23:51,280 Speaker 1: you know, we talked about reader view and how if 522 00:23:51,320 --> 00:23:54,400 Speaker 1: you're reading an article on an Apple product, it eliminates 523 00:23:54,440 --> 00:23:57,200 Speaker 1: everything except for the article that you're looking at. It's 524 00:23:57,200 --> 00:23:59,960 Speaker 1: so great, it's it's it's nice. It's way less distracting, 525 00:24:00,040 --> 00:24:01,720 Speaker 1: way to like consume some of the things that you're 526 00:24:01,720 --> 00:24:04,119 Speaker 1: reading online. That's right, But that just makes it so 527 00:24:04,160 --> 00:24:06,879 Speaker 1: you don't see the ads even though they're actually still there. 528 00:24:07,320 --> 00:24:11,120 Speaker 1: But advertisers are still tracking us across the internet, which 529 00:24:11,200 --> 00:24:14,720 Speaker 1: is why you'll often get fed as for stuff you're 530 00:24:14,800 --> 00:24:16,960 Speaker 1: just looking to purchase on another website. Right, that's the 531 00:24:17,040 --> 00:24:20,640 Speaker 1: kind of creepy factor that happens while you're Internet browsing. 532 00:24:21,000 --> 00:24:23,840 Speaker 1: And if you're wanting to boost your privacy and restrict 533 00:24:24,160 --> 00:24:27,600 Speaker 1: different websites abilities to track your browsing, switching to a 534 00:24:27,640 --> 00:24:32,000 Speaker 1: different browser that prioritizes privacy is the answer. Yeah, And 535 00:24:32,080 --> 00:24:34,200 Speaker 1: chances are you're using a browser that is just the 536 00:24:34,240 --> 00:24:37,960 Speaker 1: default piece of software that that comes on your machine, right, So, 537 00:24:38,440 --> 00:24:40,320 Speaker 1: like you said, like if you're using a Mac, you 538 00:24:40,359 --> 00:24:44,159 Speaker 1: probably are using Safari to browse, or if you have 539 00:24:44,280 --> 00:24:46,359 Speaker 1: maybe a Google laptop or a Google phone, you're probably 540 00:24:46,400 --> 00:24:48,959 Speaker 1: using Chrome. It's just the default. But an article over 541 00:24:49,000 --> 00:24:51,359 Speaker 1: at The Times recommended that you check out some of 542 00:24:51,359 --> 00:24:54,920 Speaker 1: the smaller browsers that specifically focused on privacy if that's 543 00:24:54,920 --> 00:24:57,400 Speaker 1: something that's important to you, So check out Duck, Dot, 544 00:24:57,440 --> 00:25:01,480 Speaker 1: Go Brave in Firefox Focus, as all three do a 545 00:25:01,600 --> 00:25:04,520 Speaker 1: much better job, particularly when it comes to blocking those 546 00:25:04,560 --> 00:25:07,560 Speaker 1: trackers which pull information on your identity as well as 547 00:25:07,560 --> 00:25:10,119 Speaker 1: your browsing. It'll be interesting to see how the the 548 00:25:10,160 --> 00:25:14,240 Speaker 1: advertising industry shifts as more folks become more aware of 549 00:25:14,280 --> 00:25:16,199 Speaker 1: the fact that they are being tracked. Yeah, and just 550 00:25:16,240 --> 00:25:18,560 Speaker 1: like we've got to overcome some inertia bias when it 551 00:25:18,560 --> 00:25:21,919 Speaker 1: comes to resuming some of those friendships that are meaningful, uh, 552 00:25:22,000 --> 00:25:24,239 Speaker 1: in our everyday lives as things start to get back 553 00:25:24,280 --> 00:25:26,920 Speaker 1: to normal, like we we've got to overcome some inertia 554 00:25:26,920 --> 00:25:29,600 Speaker 1: bias when it comes to even just like the browser 555 00:25:29,640 --> 00:25:31,520 Speaker 1: we're using, it's just easy to keep doing the thing 556 00:25:31,560 --> 00:25:33,680 Speaker 1: that we've been doing. But it's a really simple step 557 00:25:33,720 --> 00:25:36,480 Speaker 1: actually to just change the browser. And I downloaded the 558 00:25:36,520 --> 00:25:39,840 Speaker 1: Brave browser and started using it, and it's like yeah, 559 00:25:39,840 --> 00:25:41,800 Speaker 1: and it was super simple to do, took no time, 560 00:25:42,119 --> 00:25:44,320 Speaker 1: and hopefully it's going to keep me from being bombarded 561 00:25:44,400 --> 00:25:47,720 Speaker 1: with some of the ads that I'm typically bombarded with 562 00:25:47,760 --> 00:25:50,239 Speaker 1: when i'm you know, searching the internets and reading my 563 00:25:50,520 --> 00:25:53,679 Speaker 1: you know, money stories. So that's that's the goal, and 564 00:25:53,760 --> 00:25:55,399 Speaker 1: I hope it works out and I'll keep people updated 565 00:25:55,440 --> 00:25:57,520 Speaker 1: on that. But it's a simple step to protect your 566 00:25:57,520 --> 00:25:59,920 Speaker 1: privacy just a little bit better. That's right, Well, Joe, 567 00:26:00,080 --> 00:26:01,679 Speaker 1: that's gonna be for this episode. Listeners can find our 568 00:26:01,680 --> 00:26:03,680 Speaker 1: show notes up at our website at how the Money 569 00:26:03,720 --> 00:26:04,920 Speaker 1: dot Com. Will make sure to link to some of 570 00:26:04,960 --> 00:26:07,960 Speaker 1: the different stories or resources that we mentioned during today's episode, 571 00:26:08,200 --> 00:26:09,760 Speaker 1: and we'll see you back here on Monday, where we've 572 00:26:09,760 --> 00:26:12,720 Speaker 1: got another ask, how the Money Listener Questions episode lined 573 00:26:12,760 --> 00:26:14,399 Speaker 1: up for you. We hope you have a great weekend 574 00:26:14,400 --> 00:26:17,920 Speaker 1: and Joel, until next time. Best Friends Out, Best Friends Out,