1 00:00:00,080 --> 00:00:03,400 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,520 --> 00:00:06,200 Speaker 1: and today we're talking a credit win for renters, fake 3 00:00:06,360 --> 00:00:08,800 Speaker 1: free filing, and garbage furniture. 4 00:00:27,880 --> 00:00:30,880 Speaker 2: Yeah, buddy, we'll get to free filing fairy tales a 5 00:00:30,880 --> 00:00:33,839 Speaker 2: little bit later on. During this episode, this is our 6 00:00:33,840 --> 00:00:37,199 Speaker 2: Friday Flight. We're gonna talk about the most interesting stories 7 00:00:37,320 --> 00:00:39,519 Speaker 2: that we've come across this week. That was your high 8 00:00:39,520 --> 00:00:41,640 Speaker 2: school nickname, wasn't it? Tinker BELLA? Yeah? You want you 9 00:00:41,640 --> 00:00:43,440 Speaker 2: actually want to know what my senior shirt said on 10 00:00:43,479 --> 00:00:46,400 Speaker 2: the back of it. Yeah, sandwich. Oh okay, that was 11 00:00:46,440 --> 00:00:48,520 Speaker 2: That was your nickname. Literally, I didn't have a nickname 12 00:00:48,560 --> 00:00:51,479 Speaker 2: in call it in high school, And so when the 13 00:00:51,800 --> 00:00:53,520 Speaker 2: slide up sheet came around and you had to write 14 00:00:53,520 --> 00:00:57,400 Speaker 2: something down, I was like, well, I like sandwiches, I 15 00:00:57,440 --> 00:01:00,640 Speaker 2: love lamp. People loved it though, But yeah, what were 16 00:01:00,640 --> 00:01:03,240 Speaker 2: we talking about? Front of Flight? Yeah, we hope everyone's 17 00:01:03,280 --> 00:01:05,880 Speaker 2: having a beautiful week. I feel like we're having a 18 00:01:05,880 --> 00:01:09,680 Speaker 2: pretty great week here, in part because we booked some vacation, 19 00:01:10,520 --> 00:01:15,120 Speaker 2: some travel earlier. Yeah, we are looking forward to spending 20 00:01:15,800 --> 00:01:19,360 Speaker 2: about like five days or so short little getaway mind 21 00:01:19,920 --> 00:01:23,520 Speaker 2: the beaches of the Dominican Republic, can be nice to celebrating. 22 00:01:23,520 --> 00:01:26,360 Speaker 2: Forward to it, man, my fortieth birthday and birthday, So 23 00:01:26,400 --> 00:01:28,039 Speaker 2: it's gonna be a good time and it's gonna be 24 00:01:28,040 --> 00:01:31,080 Speaker 2: one of those all inclusive places. You've never actually been, 25 00:01:31,240 --> 00:01:33,200 Speaker 2: ever done one before, and I haven't been, I think 26 00:01:33,240 --> 00:01:34,480 Speaker 2: basically since our honeymoon. 27 00:01:34,600 --> 00:01:36,679 Speaker 1: So dude, I'm really looking forward to it. This is 28 00:01:36,680 --> 00:01:38,319 Speaker 1: the hotel will be great. You make fun of me 29 00:01:38,360 --> 00:01:40,120 Speaker 1: for this, but it has a pool in it, and 30 00:01:40,160 --> 00:01:41,920 Speaker 1: you're like, dude, it's just tiny thing. It's no baby able. 31 00:01:41,959 --> 00:01:44,440 Speaker 1: But for me, this sounds pretty incredible. It's it sounds 32 00:01:44,480 --> 00:01:46,319 Speaker 1: like something I should not be able to enjoy. But 33 00:01:46,440 --> 00:01:48,520 Speaker 1: I think you're fooled by the perspective. I'm not Richard 34 00:01:48,560 --> 00:01:49,640 Speaker 1: Branson who gets to do this. 35 00:01:49,760 --> 00:01:53,960 Speaker 2: The perspective. Photography will report back on the size. It's 36 00:01:53,960 --> 00:01:55,920 Speaker 2: probably literally like one of those cold plunges, and it's 37 00:01:56,040 --> 00:01:58,560 Speaker 2: opted for the cheapest room that you could get, but 38 00:01:58,760 --> 00:02:00,920 Speaker 2: still with the nicer food. Yeah, the way we can 39 00:02:01,000 --> 00:02:02,600 Speaker 2: enjoy some dinners with y'all. Sure of course. 40 00:02:02,680 --> 00:02:05,240 Speaker 1: Now on the note of travel, can I just mention something, Yeah, 41 00:02:05,360 --> 00:02:07,960 Speaker 1: our friends over at going which used to be Scotch 42 00:02:08,040 --> 00:02:09,200 Speaker 1: Cheap Scot's Cheap flights. 43 00:02:09,200 --> 00:02:11,080 Speaker 2: Oh, I thought you're gonna mention that we almost booked 44 00:02:11,080 --> 00:02:13,720 Speaker 2: this on Costco Travel, which which like you're like a 45 00:02:13,760 --> 00:02:16,360 Speaker 2: whiskers with the way of going, because there's some awesome 46 00:02:16,360 --> 00:02:18,760 Speaker 2: deals over there. But in the end we decided to 47 00:02:19,000 --> 00:02:20,600 Speaker 2: there's a good deal over at the website where we 48 00:02:20,600 --> 00:02:20,919 Speaker 2: book this. 49 00:02:21,080 --> 00:02:23,520 Speaker 1: Yeah, it's funny. As a Costco lover, it's I don't 50 00:02:23,520 --> 00:02:25,160 Speaker 1: think about Costco travel as much as I should. 51 00:02:25,160 --> 00:02:27,560 Speaker 2: That's one of the benefits of being a Costco member 52 00:02:27,800 --> 00:02:29,800 Speaker 2: is and it sounds I don't know, it sounds kind 53 00:02:29,800 --> 00:02:32,760 Speaker 2: of old and lame that, Oh Costco Travel. They got 54 00:02:32,760 --> 00:02:35,120 Speaker 2: these packages, but they're really great. Yeah, and we would 55 00:02:35,200 --> 00:02:37,240 Speaker 2: highly reckoon, especially checking that out if that's your jam, 56 00:02:37,280 --> 00:02:39,000 Speaker 2: the all inclusive or the crews like they do, or 57 00:02:39,040 --> 00:02:42,200 Speaker 2: just some nicer hotels at a nice like a nice 58 00:02:42,200 --> 00:02:45,480 Speaker 2: little island to get away too. But yeah, in addition 59 00:02:45,520 --> 00:02:46,800 Speaker 2: to that, though, you were talking about going. 60 00:02:47,000 --> 00:02:49,040 Speaker 1: Yeah, so okay, it's all going. Used to be called 61 00:02:49,080 --> 00:02:51,320 Speaker 1: Scotch Cheap Flights. I liked the former name, but they 62 00:02:51,320 --> 00:02:54,240 Speaker 1: didn't ask me. But they are reducing the value of 63 00:02:54,280 --> 00:02:56,280 Speaker 1: their free membership. I have been a free member of 64 00:02:56,280 --> 00:02:58,400 Speaker 1: Scotch Cheap flights for a long time. I'm trying to 65 00:02:58,400 --> 00:02:59,840 Speaker 1: decide whether or not I'm going to pay for it. 66 00:03:00,200 --> 00:03:02,760 Speaker 1: I think I probably will at some point in time 67 00:03:02,840 --> 00:03:06,840 Speaker 1: because when I start to travel more frequently. But Scotts 68 00:03:06,880 --> 00:03:10,079 Speaker 1: Chief Flights sadly they're they're limiting their free members to 69 00:03:10,200 --> 00:03:13,480 Speaker 1: domestic deals only, no international deals. And so I got 70 00:03:13,480 --> 00:03:16,240 Speaker 1: the last one to it was like late January to Spain. 71 00:03:16,320 --> 00:03:18,760 Speaker 1: I was like, oh, I'm going to miss these little 72 00:03:18,800 --> 00:03:20,480 Speaker 1: notifications thinking about trips. 73 00:03:20,480 --> 00:03:22,360 Speaker 2: I'm not actually going to take thinking about going abroad, 74 00:03:22,440 --> 00:03:23,760 Speaker 2: even though you're not going. 75 00:03:23,560 --> 00:03:26,080 Speaker 1: To I still think though, I think they're doing like 76 00:03:26,120 --> 00:03:27,880 Speaker 1: fifty percent off for the first year for people who 77 00:03:27,919 --> 00:03:30,280 Speaker 1: do upgrade, it's a great value if you still know 78 00:03:30,320 --> 00:03:32,680 Speaker 1: that you're going to travel internationally. Yeah, but just a 79 00:03:32,680 --> 00:03:34,560 Speaker 1: word of the wise, for those of you who have 80 00:03:34,680 --> 00:03:37,480 Speaker 1: those free emails set up through going well, they're not 81 00:03:37,480 --> 00:03:39,720 Speaker 1: going to be nearly as good of emails moving forward 82 00:03:39,800 --> 00:03:42,800 Speaker 1: unless you want to go to Vegas, California, wherever, New York, 83 00:03:42,800 --> 00:03:44,360 Speaker 1: I mean that kind of stuff. You're just you're not 84 00:03:44,360 --> 00:03:47,440 Speaker 1: going to get those sweet Japan deals anymore exactly as 85 00:03:47,440 --> 00:03:48,120 Speaker 1: a free boy. 86 00:03:47,960 --> 00:03:50,280 Speaker 2: Or the what was it, the the mistake fares is 87 00:03:50,640 --> 00:03:53,480 Speaker 2: was one of the features of their premium membership is well, 88 00:03:53,520 --> 00:03:53,760 Speaker 2: when you. 89 00:03:53,720 --> 00:03:55,920 Speaker 1: Think about it, if you do travel, even just once 90 00:03:55,960 --> 00:03:57,840 Speaker 1: a year, and you let the deal dictate where you go, 91 00:03:58,160 --> 00:04:00,560 Speaker 1: twenty four bucks, Listen, it's nothing. 92 00:04:00,920 --> 00:04:02,640 Speaker 2: It truly is nothing. As long as you know you're 93 00:04:02,640 --> 00:04:04,440 Speaker 2: going to travel at some point that year, it could 94 00:04:04,440 --> 00:04:06,880 Speaker 2: totally be worth it. In addition to checking out cost. 95 00:04:06,760 --> 00:04:09,000 Speaker 1: Products now not trying to sell their product for them, 96 00:04:09,040 --> 00:04:11,400 Speaker 1: but just saying it's a good deal, and Scott knows 97 00:04:11,440 --> 00:04:11,880 Speaker 1: what he's doing. 98 00:04:11,920 --> 00:04:14,120 Speaker 2: We love Scott. Yeah, that's I guess that's the other disclosure. 99 00:04:14,120 --> 00:04:16,440 Speaker 2: Were like the name Scott's Cheap Flights because we've had 100 00:04:16,480 --> 00:04:18,400 Speaker 2: we had Scott on the actual show and he was 101 00:04:18,680 --> 00:04:20,919 Speaker 2: a blast to talk to, So I guess that'll be 102 00:04:20,920 --> 00:04:23,560 Speaker 2: our That's our first official story for today's Friday flight. 103 00:04:23,560 --> 00:04:26,960 Speaker 2: Our next, let's talk about credit score. I'm hesitant to 104 00:04:27,000 --> 00:04:29,960 Speaker 2: say hacks, but let's get into it. We've talked about 105 00:04:30,000 --> 00:04:34,920 Speaker 2: it's an overuse for it. It is. We've discussed don't 106 00:04:34,920 --> 00:04:40,400 Speaker 2: do that. The financial flexibility that renting can provide you. 107 00:04:40,800 --> 00:04:44,159 Speaker 2: That's even more true these days, given that rent increases 108 00:04:44,240 --> 00:04:48,200 Speaker 2: have mellowed out and home prices and mortgage rates are 109 00:04:48,240 --> 00:04:50,800 Speaker 2: still high across most of the country. But there is 110 00:04:50,960 --> 00:04:54,280 Speaker 2: one disadvantage that renders have versus their home owning peers 111 00:04:54,440 --> 00:04:57,880 Speaker 2: or just I guess multiple multiple disadvantages, but certainly one 112 00:04:58,240 --> 00:05:01,159 Speaker 2: is the ability for their on time monthly payments to 113 00:05:01,240 --> 00:05:04,000 Speaker 2: help them to build a credit score. That being said, 114 00:05:04,520 --> 00:05:07,440 Speaker 2: technology is here to save the day and to help 115 00:05:07,480 --> 00:05:11,160 Speaker 2: responsible tenants see that credit score soar. And I think 116 00:05:11,160 --> 00:05:14,000 Speaker 2: part of the difficulty until now has just been with 117 00:05:14,600 --> 00:05:18,039 Speaker 2: mom and pop landlords, individuals who have maybe like a 118 00:05:18,080 --> 00:05:23,560 Speaker 2: handful of rentals and the ability to basically systematize millions 119 00:05:23,560 --> 00:05:27,240 Speaker 2: of folks like us out there who who don't we're 120 00:05:27,240 --> 00:05:29,839 Speaker 2: not tapped into some like larger network per se. And 121 00:05:30,240 --> 00:05:32,360 Speaker 2: you know, this has sort of been a difficult problem 122 00:05:32,400 --> 00:05:34,839 Speaker 2: to solve, both from a landlord's perspective, where you're trying 123 00:05:34,880 --> 00:05:37,760 Speaker 2: to have some degree of accountability of a tenant who's 124 00:05:37,760 --> 00:05:40,279 Speaker 2: just like, man, I know this guy's not reporting anything 125 00:05:40,320 --> 00:05:43,120 Speaker 2: to the credit What to do keep my security deposit okay? 126 00:05:43,440 --> 00:05:45,960 Speaker 2: Which is why it's a great idea to sometimes ask 127 00:05:46,000 --> 00:05:49,440 Speaker 2: for a larger security deposit if it's a potential tenant 128 00:05:49,760 --> 00:05:52,839 Speaker 2: who does have a rougher financial history, but also from 129 00:05:52,880 --> 00:05:55,719 Speaker 2: the perspective of the renter front of the tenant, it's like, 130 00:05:55,760 --> 00:06:00,000 Speaker 2: oh dang, this is an amazing way to report installment low, 131 00:06:00,240 --> 00:06:03,120 Speaker 2: which is one of the key factors that play into 132 00:06:03,160 --> 00:06:05,960 Speaker 2: that credit mix that plays into your developing and growing 133 00:06:05,960 --> 00:06:06,880 Speaker 2: your credit scores. 134 00:06:06,960 --> 00:06:09,320 Speaker 1: Right, Okay, So you mentioned that technology is here to 135 00:06:09,360 --> 00:06:12,880 Speaker 1: provide a solution, and there have been other technological solutions 136 00:06:12,920 --> 00:06:14,760 Speaker 1: MATT in recent years, but those haven't been flawless. 137 00:06:14,800 --> 00:06:15,000 Speaker 2: Right. 138 00:06:15,040 --> 00:06:17,360 Speaker 1: There have been third party sites that would allow for this, 139 00:06:17,960 --> 00:06:20,920 Speaker 1: but that typically meant that the tenant had asked their 140 00:06:21,000 --> 00:06:24,400 Speaker 1: landlord to sign up for this service, and it was 141 00:06:24,560 --> 00:06:26,080 Speaker 1: a lot of landlords were like, I don't. 142 00:06:25,960 --> 00:06:26,359 Speaker 2: Know about this. 143 00:06:26,800 --> 00:06:29,680 Speaker 1: Well, that means until now, less than five percent of 144 00:06:29,680 --> 00:06:32,640 Speaker 1: tenants have had their rent payments being reported to the 145 00:06:32,680 --> 00:06:35,960 Speaker 1: credit bureaus, helping their credit score rise, right, Like you're saying, 146 00:06:36,040 --> 00:06:39,080 Speaker 1: so most of them just haven't had access. Well, Zillo 147 00:06:39,600 --> 00:06:43,880 Speaker 1: just ended the chat and Zilo they could massively increase 148 00:06:43,920 --> 00:06:46,560 Speaker 1: I think that five percent number in short order because 149 00:06:46,640 --> 00:06:48,360 Speaker 1: of the market share that they have, and then they 150 00:06:48,360 --> 00:06:51,440 Speaker 1: continue to gain. Basically, tenants who already pay their rent 151 00:06:51,600 --> 00:06:55,200 Speaker 1: via their renter's payment dashboard on Zilo can enable this reporting, 152 00:06:55,480 --> 00:06:57,240 Speaker 1: and new renters will simply be asked if they want 153 00:06:57,279 --> 00:06:57,840 Speaker 1: to opt. 154 00:06:57,640 --> 00:07:00,120 Speaker 2: In when they enroll. And Matt, you and I I 155 00:07:00,279 --> 00:07:01,000 Speaker 2: use Zillow. 156 00:07:00,800 --> 00:07:04,200 Speaker 1: To list our properties, I would totally use. I would 157 00:07:04,240 --> 00:07:06,680 Speaker 1: totally use them to manage payments too, and to accept 158 00:07:06,720 --> 00:07:08,080 Speaker 1: payments from tenants. 159 00:07:07,760 --> 00:07:10,400 Speaker 2: Which I have not done. I need to look into that. 160 00:07:10,440 --> 00:07:12,240 Speaker 1: I don't know, but especially now, if my tenants like 161 00:07:12,320 --> 00:07:16,040 Speaker 1: want to get that credit reporting boost, I'm all for it, right. 162 00:07:15,960 --> 00:07:17,880 Speaker 2: So I'd be willing to do that. It's specifically because 163 00:07:17,920 --> 00:07:20,120 Speaker 2: z is it's a recognized name, they've gone market shared, 164 00:07:20,120 --> 00:07:23,000 Speaker 2: and the ability for us to also streamline what it 165 00:07:23,040 --> 00:07:25,920 Speaker 2: is that we do. We're already using Zilla when it 166 00:07:25,920 --> 00:07:27,480 Speaker 2: comes to listing the property, so why not when you 167 00:07:27,680 --> 00:07:28,600 Speaker 2: have to collecting. 168 00:07:28,320 --> 00:07:30,559 Speaker 1: Rent do it all in one place. And sadly, Zilo 169 00:07:30,640 --> 00:07:33,360 Speaker 1: though only reports to Experience for the time being, although 170 00:07:33,360 --> 00:07:35,160 Speaker 1: they have said they aim to change that in the 171 00:07:35,200 --> 00:07:37,720 Speaker 1: future and report to all three of the major credit bureaus. 172 00:07:38,000 --> 00:07:40,000 Speaker 1: So this is not a silver bullet, but it's still 173 00:07:40,400 --> 00:07:42,800 Speaker 1: good news if you're a renter, and it's worth asking 174 00:07:42,800 --> 00:07:45,280 Speaker 1: your landlord about payment methods you can use that will 175 00:07:45,320 --> 00:07:47,880 Speaker 1: help you build your credit, especially if you're a renter 176 00:07:48,000 --> 00:07:49,680 Speaker 1: who wants to buy a home in the near future. 177 00:07:49,760 --> 00:07:52,720 Speaker 1: That credit score super important and this could really help 178 00:07:52,720 --> 00:07:54,440 Speaker 1: you give you a twenty thirty point boost over the 179 00:07:54,480 --> 00:07:55,440 Speaker 1: coming six months to a year. 180 00:07:55,520 --> 00:07:57,360 Speaker 2: Yes, it only helps your credit score. That's the other 181 00:07:57,440 --> 00:08:00,320 Speaker 2: part of it too, is that Zilo is only awarding 182 00:08:00,520 --> 00:08:02,480 Speaker 2: payments that are made that are on time. So if 183 00:08:02,480 --> 00:08:05,080 Speaker 2: you've got a late payment, guess what, you're totally in 184 00:08:05,120 --> 00:08:08,440 Speaker 2: the clear, which again doesn't help the landlord as as 185 00:08:08,440 --> 00:08:10,640 Speaker 2: far as the accountability and making sure that they pay 186 00:08:10,680 --> 00:08:10,880 Speaker 2: on time. 187 00:08:11,000 --> 00:08:12,600 Speaker 1: But I thought I saw something about thirty days that 188 00:08:12,640 --> 00:08:14,240 Speaker 1: there was a thirty day grace period and it wasn't 189 00:08:14,240 --> 00:08:15,640 Speaker 1: considered late until it was beyond that. 190 00:08:15,720 --> 00:08:17,600 Speaker 2: Yeah, that's what I'm saying. No, I'm sorry. What you're 191 00:08:17,600 --> 00:08:19,880 Speaker 2: saying is that at some point they do report the 192 00:08:19,920 --> 00:08:25,320 Speaker 2: nets only the positive positive movements, and the thirty days 193 00:08:25,360 --> 00:08:27,600 Speaker 2: has to do with what is considered on time. So 194 00:08:27,640 --> 00:08:29,559 Speaker 2: as long as you make a payment within those thirty days, 195 00:08:29,600 --> 00:08:32,360 Speaker 2: it is still considered on time, which is lenient is 196 00:08:32,360 --> 00:08:35,120 Speaker 2: all get out. So basically no downside, yes, in my opinion. 197 00:08:35,200 --> 00:08:36,880 Speaker 2: So if you are a renter and you're looking to 198 00:08:36,920 --> 00:08:39,120 Speaker 2: boot your credit score. I would, yeah, highly recommend check 199 00:08:39,160 --> 00:08:39,439 Speaker 2: them that out. 200 00:08:39,480 --> 00:08:41,680 Speaker 1: Let's keep talking about housing for a second, and we 201 00:08:41,760 --> 00:08:44,120 Speaker 1: promise not to get political here. We try to avoid 202 00:08:44,160 --> 00:08:46,520 Speaker 1: that at all costs on the show. But we'll just 203 00:08:46,679 --> 00:08:48,959 Speaker 1: use a political comment to try to make a point. 204 00:08:49,160 --> 00:08:52,280 Speaker 1: Elizabeth Warren, Senator, she made some comments this week, and 205 00:08:52,360 --> 00:08:55,440 Speaker 1: she basically says she wants the head of the Federal Reserve, 206 00:08:55,840 --> 00:08:58,800 Speaker 1: Jerome Powell, to reduce rates because she believes that it 207 00:08:58,840 --> 00:09:01,400 Speaker 1: will make housing cheaper. And so I just thought it 208 00:09:01,440 --> 00:09:05,120 Speaker 1: was worth asking the question, is that true? Would reducing rates, 209 00:09:05,160 --> 00:09:07,160 Speaker 1: which the Federal Reserve said, oh, yeah, we might do 210 00:09:07,200 --> 00:09:09,120 Speaker 1: that in March, and now they're saying, ah, maybe not 211 00:09:09,240 --> 00:09:13,200 Speaker 1: actually quite that soon. Would that earlier reduction actually help 212 00:09:13,320 --> 00:09:16,040 Speaker 1: grease the gears of the housing market and bring costs 213 00:09:16,040 --> 00:09:19,040 Speaker 1: down for everybody? Granted by buying a home is essentially 214 00:09:19,080 --> 00:09:21,319 Speaker 1: off limits to tens of millions of folks right now 215 00:09:21,360 --> 00:09:23,880 Speaker 1: because of insanely high prices. So I get the concern. 216 00:09:24,120 --> 00:09:27,400 Speaker 1: I get what she's trying to achieve. However, yeah, part 217 00:09:27,440 --> 00:09:30,559 Speaker 1: of the problem though, that we are in is because 218 00:09:31,000 --> 00:09:33,200 Speaker 1: of what's happening with interest rates. There's obviously a big 219 00:09:33,240 --> 00:09:35,880 Speaker 1: reason rates had to go up, inflation the main one. 220 00:09:36,280 --> 00:09:38,320 Speaker 1: Has that problem been solved? I think we're getting closer, 221 00:09:38,559 --> 00:09:40,319 Speaker 1: but we might not have fully landed the plane yet. 222 00:09:40,360 --> 00:09:42,520 Speaker 1: So should the Fed listen in cut rates in an 223 00:09:42,559 --> 00:09:45,800 Speaker 1: attempt to increase housing affordability for buyers who have been 224 00:09:45,840 --> 00:09:48,600 Speaker 1: sidelined because of sky high rates. I guess, Matt like 225 00:09:48,600 --> 00:09:50,400 Speaker 1: what it boils down to is, I think it might 226 00:09:50,440 --> 00:09:52,720 Speaker 1: not have the impact that Elizabeth Warren's hoping for. 227 00:09:52,800 --> 00:09:55,520 Speaker 2: It makes me think of the Princess Bride quote where 228 00:09:55,600 --> 00:09:58,120 Speaker 2: he's like, you keep using that word. I do not 229 00:09:58,160 --> 00:10:00,480 Speaker 2: think it means what you think it means. And so 230 00:10:00,600 --> 00:10:03,520 Speaker 2: in this way, I do not think lower rates are 231 00:10:03,520 --> 00:10:05,560 Speaker 2: going to lead to what you think lower rates are 232 00:10:05,600 --> 00:10:07,719 Speaker 2: going to lead to. Yeah, and that's often I think, 233 00:10:07,760 --> 00:10:10,640 Speaker 2: because we still have a supply problem within the housing market. 234 00:10:10,920 --> 00:10:13,040 Speaker 2: And if we see mortgage rates, if they go from 235 00:10:13,280 --> 00:10:15,120 Speaker 2: you know, just north of six and a half percent 236 00:10:15,160 --> 00:10:17,560 Speaker 2: and they just drops a full point down to five 237 00:10:17,600 --> 00:10:20,160 Speaker 2: and a half percent tomorrow, well, yeah, that'll increase supply 238 00:10:20,240 --> 00:10:23,840 Speaker 2: a little bit. Will also increase demand a lot, potentially 239 00:10:23,920 --> 00:10:26,360 Speaker 2: sparking a feeding frenzy like we saw a couple a 240 00:10:26,480 --> 00:10:28,520 Speaker 2: couple of springs ago, which intern is going to push 241 00:10:28,520 --> 00:10:31,120 Speaker 2: housing prices up even higher than they are now. Home 242 00:10:31,120 --> 00:10:33,000 Speaker 2: builders they seem to be doing their best to increase 243 00:10:33,040 --> 00:10:35,199 Speaker 2: the supply of new homes. That's good news, but we're 244 00:10:35,240 --> 00:10:38,920 Speaker 2: still millions of units short after the building and industry 245 00:10:38,960 --> 00:10:42,720 Speaker 2: was decimated during the Great Recession. So we're talking about 246 00:10:42,840 --> 00:10:47,240 Speaker 2: lower rates basically firing up demand. Obviously, you know, borrowing 247 00:10:47,240 --> 00:10:48,880 Speaker 2: costs are a big factor into that, but there's also 248 00:10:48,960 --> 00:10:51,320 Speaker 2: just the stage of life factors as well, and we 249 00:10:51,360 --> 00:10:53,720 Speaker 2: still have an entire generation of millennials who are in 250 00:10:53,800 --> 00:10:57,760 Speaker 2: like prime home buying phase of their life. Basically like 251 00:10:57,840 --> 00:11:01,360 Speaker 2: millennials want homes, and it's a massive subset as well. 252 00:11:01,600 --> 00:11:04,360 Speaker 2: There are way more millennials are than there were Gen 253 00:11:04,520 --> 00:11:07,160 Speaker 2: xers than there are Gen xers then there were boomers, 254 00:11:07,160 --> 00:11:10,600 Speaker 2: not combined, but just as individually. And so there's just 255 00:11:10,679 --> 00:11:13,319 Speaker 2: a need for housing. And not only are all these 256 00:11:13,320 --> 00:11:15,960 Speaker 2: millennials looking to buy a house, but some who have 257 00:11:16,120 --> 00:11:17,960 Speaker 2: purchased a home, they're looking to buy a slightly larger 258 00:11:18,000 --> 00:11:20,120 Speaker 2: home now because guess what, they're having kids. I guess 259 00:11:20,200 --> 00:11:21,840 Speaker 2: I'm saying all that because I don't expect to see 260 00:11:21,840 --> 00:11:24,679 Speaker 2: housing they're not going to continue to like skyrocket man. 261 00:11:24,720 --> 00:11:27,320 Speaker 2: They are. There's no way that home prices are coming down. 262 00:11:27,600 --> 00:11:30,199 Speaker 2: And see if your way exactly, and by lowering a rates, 263 00:11:30,200 --> 00:11:32,680 Speaker 2: it's only going to drive rates up or home prices 264 00:11:32,760 --> 00:11:33,920 Speaker 2: up even faster, in my opinion. 265 00:11:33,920 --> 00:11:36,040 Speaker 1: And actually prices are going down in some parts of 266 00:11:36,040 --> 00:11:38,640 Speaker 1: the country, it's just not on average across the whole 267 00:11:38,720 --> 00:11:41,559 Speaker 1: United States of America. We don't expect to see prices 268 00:11:41,600 --> 00:11:44,400 Speaker 1: go down in a meaningful way as race come down, 269 00:11:44,520 --> 00:11:46,440 Speaker 1: and actually in some parts of the country it might 270 00:11:47,080 --> 00:11:49,360 Speaker 1: create a firestorm again in the housing market, causing I 271 00:11:49,400 --> 00:11:50,840 Speaker 1: just don't see how pricis to rise really quickly. 272 00:11:50,840 --> 00:11:51,720 Speaker 2: I don't see how it doesn't. 273 00:11:51,840 --> 00:11:54,959 Speaker 1: Yeah, and one of the things too, Jerom Powell was 274 00:11:55,000 --> 00:11:56,960 Speaker 1: kind of asked about this this week, and he basically said, 275 00:11:57,240 --> 00:12:00,280 Speaker 1: the housing market isn't really our purview. We're all about 276 00:12:00,320 --> 00:12:04,520 Speaker 1: curbing inflation and maintaining solid employment numbers, and so that's 277 00:12:04,600 --> 00:12:06,439 Speaker 1: kind of the FEDS dual mandate. And what happens in 278 00:12:06,440 --> 00:12:08,360 Speaker 1: the housing market. It's not like they're trying to crush 279 00:12:08,360 --> 00:12:10,960 Speaker 1: the housing market or trying to make it ridiculously expensive 280 00:12:11,000 --> 00:12:13,199 Speaker 1: to buy a house. It's just not really their job. 281 00:12:13,320 --> 00:12:14,800 Speaker 2: The other part of part of this as well is 282 00:12:15,320 --> 00:12:17,720 Speaker 2: like we were in twenty twenty four, it's an election year, 283 00:12:18,240 --> 00:12:20,719 Speaker 2: and not to be overly cynical, but I think we're 284 00:12:20,760 --> 00:12:23,600 Speaker 2: going to hear a lot of things coming from our 285 00:12:23,679 --> 00:12:26,120 Speaker 2: elected officials on both sides of the aisle, or want 286 00:12:26,120 --> 00:12:30,439 Speaker 2: to be elected officials making massive promises signaling. Dude, it 287 00:12:30,880 --> 00:12:33,079 Speaker 2: just feels like so much theater and the ability to 288 00:12:33,120 --> 00:12:35,000 Speaker 2: get in front of a voting base and saying the 289 00:12:35,080 --> 00:12:37,760 Speaker 2: right things in order to appeal for those votes. That's 290 00:12:38,200 --> 00:12:39,959 Speaker 2: I don't know's that's all I'm going to say. Okay, 291 00:12:40,040 --> 00:12:41,720 Speaker 2: and it happens, I think on both sides. 292 00:12:41,880 --> 00:12:45,520 Speaker 1: Yeah, no, I agree, most of the politicians just annoy me. 293 00:12:46,440 --> 00:12:48,920 Speaker 1: Let's talk about taxes, Matt, tax filing season has begun. 294 00:12:49,559 --> 00:12:52,600 Speaker 1: I know you're you're thrilled. I know our listeners are 295 00:12:52,640 --> 00:12:54,080 Speaker 1: thrilled to get the paperwork started. 296 00:12:54,200 --> 00:12:55,480 Speaker 2: Actually, I know you're. 297 00:12:55,520 --> 00:12:57,480 Speaker 1: Actually I actually kind of do like probably like the 298 00:12:57,480 --> 00:12:59,680 Speaker 1: two percent of people who's like, ooh, yeah, this is fun. 299 00:13:00,600 --> 00:13:02,199 Speaker 2: Well, there is some news that we need to get 300 00:13:02,240 --> 00:13:04,240 Speaker 2: to on the tax filing front. A couple things. 301 00:13:04,280 --> 00:13:07,080 Speaker 1: Actually, Turbo tax, for one, is no longer able to 302 00:13:07,120 --> 00:13:10,360 Speaker 1: advertise their products as free. According to a new ruling 303 00:13:10,400 --> 00:13:14,840 Speaker 1: from the FTC. Why well, because those free products that 304 00:13:14,880 --> 00:13:18,160 Speaker 1: they were supposedly offering weren't actually free for the majority 305 00:13:18,200 --> 00:13:21,559 Speaker 1: of people. Apparently two thirds of folks who thought they 306 00:13:21,559 --> 00:13:22,959 Speaker 1: were going to be able to file their taxes for 307 00:13:23,040 --> 00:13:27,680 Speaker 1: free by getting this free turbo tax software didn't qualify 308 00:13:27,760 --> 00:13:30,640 Speaker 1: for the free product. And you know, at that point 309 00:13:30,679 --> 00:13:33,400 Speaker 1: they were so far down the tax filing rabbit hole 310 00:13:33,559 --> 00:13:35,720 Speaker 1: that they just paid TurboTax in a very kind of 311 00:13:35,920 --> 00:13:38,760 Speaker 1: blackmail style affair. Turbo stens to taxes. Oh yeah, you 312 00:13:38,760 --> 00:13:41,280 Speaker 1: thought you had that friend. Well in the fine print, 313 00:13:41,360 --> 00:13:44,240 Speaker 1: in the terms of service, you didn't actually quite qualify 314 00:13:44,320 --> 00:13:46,880 Speaker 1: because actually you had some income from a gig job 315 00:13:46,920 --> 00:13:49,000 Speaker 1: that you had, or oh you didn't tell us about 316 00:13:49,000 --> 00:13:51,360 Speaker 1: that investment property of front. Yeah, this is going to 317 00:13:51,440 --> 00:13:54,560 Speaker 1: cost you money now. And so TurboTax they are appealing 318 00:13:54,800 --> 00:13:58,760 Speaker 1: because they disagree with the FTC ruling. But it's probably 319 00:13:58,760 --> 00:14:02,640 Speaker 1: worth pointing out that there are truly freeways to fire taxes, 320 00:14:02,920 --> 00:14:04,679 Speaker 1: even if TurboTax isn't going to be one of them 321 00:14:04,679 --> 00:14:05,360 Speaker 1: for most folks. 322 00:14:05,400 --> 00:14:07,800 Speaker 2: I forget where that story was, but they had a 323 00:14:07,880 --> 00:14:10,400 Speaker 2: quote in there from turbot or from into It, the 324 00:14:10,920 --> 00:14:14,200 Speaker 2: parent company of TurboTax, and they're like throwing serious shade 325 00:14:14,200 --> 00:14:17,360 Speaker 2: at the FTC. They're like, oh yeah, well you suck too, 326 00:14:19,160 --> 00:14:20,360 Speaker 2: so childish, but. 327 00:14:20,400 --> 00:14:22,640 Speaker 1: We've thrown some shade at the FTC this year. So 328 00:14:23,240 --> 00:14:25,920 Speaker 1: but I will say TurboTax deserves it's fair share. 329 00:14:26,200 --> 00:14:29,640 Speaker 2: Valid point that TurboTax are into it is making. I 330 00:14:29,640 --> 00:14:32,840 Speaker 2: certainly get that. But bottom line, though, I'll say that 331 00:14:32,920 --> 00:14:36,800 Speaker 2: the offering from the IRS that they have concocted so 332 00:14:36,840 --> 00:14:39,360 Speaker 2: it's available for the first time this year. It's only 333 00:14:39,400 --> 00:14:43,600 Speaker 2: available though to folks in twelve states. It's called direct 334 00:14:43,640 --> 00:14:46,400 Speaker 2: file and the you know, there's maybe some issues with it. 335 00:14:46,400 --> 00:14:49,840 Speaker 2: There's been some early reviews. They're not stellar as it 336 00:14:49,880 --> 00:14:52,600 Speaker 2: seems to only be able to handle basic returns and 337 00:14:52,640 --> 00:14:55,400 Speaker 2: so that's not a great free option. Again, I'm not 338 00:14:55,440 --> 00:14:57,680 Speaker 2: like an anarchist or anything, but I'm not expecting anything 339 00:14:57,760 --> 00:14:59,400 Speaker 2: that the government's going to develop to be like this 340 00:14:59,480 --> 00:15:02,160 Speaker 2: amazing piece of software that everyone's gonna it's it's a 341 00:15:02,240 --> 00:15:04,640 Speaker 2: joy to use. It's not like shopping a publics. Well. 342 00:15:04,640 --> 00:15:07,040 Speaker 1: Again, it's free, but it really only covers some of 343 00:15:07,120 --> 00:15:09,560 Speaker 1: the most basic returns, which leads a whole lot of. 344 00:15:09,520 --> 00:15:11,640 Speaker 2: People left in alert. There's a massive there's an income 345 00:15:11,680 --> 00:15:13,640 Speaker 2: cap as well, not to mention the people in thirty 346 00:15:13,680 --> 00:15:16,680 Speaker 2: eight other states. Yes, exactly, And so that being said, 347 00:15:16,800 --> 00:15:20,040 Speaker 2: you still have the option of cash app taxes. It 348 00:15:20,160 --> 00:15:22,240 Speaker 2: still takes top billing. In our opinion, it is one 349 00:15:22,360 --> 00:15:26,400 Speaker 2: hundred percent free for both federal and state filings, and 350 00:15:26,440 --> 00:15:29,040 Speaker 2: it offers help to a just much bigger swath of 351 00:15:29,040 --> 00:15:31,480 Speaker 2: folks who have different levels of tax complexity as well. 352 00:15:31,520 --> 00:15:33,440 Speaker 2: And so we wanted to mention that because it is 353 00:15:33,480 --> 00:15:35,880 Speaker 2: worth checking out. And also if you're one of the 354 00:15:35,880 --> 00:15:39,560 Speaker 2: folks who has more of a complex tax situation, it 355 00:15:39,640 --> 00:15:42,840 Speaker 2: might definitely be worth it to hire a pro because 356 00:15:43,440 --> 00:15:45,400 Speaker 2: like this is one of those instances where you might 357 00:15:45,440 --> 00:15:48,240 Speaker 2: be cheap rather than frugal by not going with a 358 00:15:48,280 --> 00:15:51,360 Speaker 2: tax professional. Hey ever, have a more complicated tax return. 359 00:15:51,200 --> 00:15:52,800 Speaker 1: We'll see the average cost to hire a tax pro 360 00:15:52,920 --> 00:15:54,560 Speaker 1: in this country's like two hundred twenty bucks. 361 00:15:54,760 --> 00:15:57,080 Speaker 2: Well, that sounds so affordable. 362 00:15:57,080 --> 00:15:59,280 Speaker 1: It does, yes, and the average tax pro is probably 363 00:15:59,320 --> 00:16:00,920 Speaker 1: gonna be able to save you more than that by 364 00:16:00,960 --> 00:16:02,240 Speaker 1: knowing kind of some of. 365 00:16:02,200 --> 00:16:04,440 Speaker 2: The easily yeah, some of the tax codes. 366 00:16:04,440 --> 00:16:06,840 Speaker 1: The ways that you can the ways that you might 367 00:16:07,000 --> 00:16:09,160 Speaker 1: qualify for a potential deduction that you didn't know about, 368 00:16:09,200 --> 00:16:11,240 Speaker 1: something like that. They're kind of up to stuff on 369 00:16:11,280 --> 00:16:13,840 Speaker 1: these things, whereas you and I'm at, we aren't. We 370 00:16:13,840 --> 00:16:15,800 Speaker 1: trust the pros on that front. And one other just 371 00:16:15,880 --> 00:16:18,080 Speaker 1: kind of good option you mentioned cash app taxes. I 372 00:16:18,080 --> 00:16:21,880 Speaker 1: love that one. Well, Free tax USA. That's another solid one. 373 00:16:21,960 --> 00:16:25,080 Speaker 1: It's zero dollars to file federally fifteen bucks no matter 374 00:16:25,120 --> 00:16:27,360 Speaker 1: what state you're in. And we have a new article 375 00:16:27,400 --> 00:16:30,000 Speaker 1: actually up on the site. They we'll link to about 376 00:16:30,040 --> 00:16:32,960 Speaker 1: when it makes sense to hire a tax professional instead 377 00:16:32,960 --> 00:16:36,280 Speaker 1: of going with these these cheaper or free filing services, 378 00:16:36,280 --> 00:16:37,440 Speaker 1: So we'll link to that in the show notes. 379 00:16:37,480 --> 00:16:39,160 Speaker 2: That's right. And by the way, I'm sure that very 380 00:16:39,200 --> 00:16:41,760 Speaker 2: few How to Money listeners actually mail their tax re 381 00:16:41,840 --> 00:16:44,960 Speaker 2: turn in, but just remember that going analog, printing it out, 382 00:16:45,120 --> 00:16:48,000 Speaker 2: maybe even doing it by typewriter, if that's that's your jam, 383 00:16:48,120 --> 00:16:51,200 Speaker 2: that's going to slow the process down significantly, and especially 384 00:16:51,240 --> 00:16:54,400 Speaker 2: if you are owed a meaningful refund. We would recommend 385 00:16:54,440 --> 00:16:55,880 Speaker 2: for everyone out there to make sure that they are 386 00:16:55,960 --> 00:16:58,680 Speaker 2: e filing. That's snail mail is a no go. I 387 00:16:58,680 --> 00:17:00,480 Speaker 2: think that's the boat that we might be falling into 388 00:17:00,480 --> 00:17:02,640 Speaker 2: this year because last year we ended up owing a ton, 389 00:17:03,000 --> 00:17:06,320 Speaker 2: and I think I may have overcompensated this past year 390 00:17:06,640 --> 00:17:11,160 Speaker 2: and made what is it the quarterly deposits in excess 391 00:17:11,200 --> 00:17:13,240 Speaker 2: of what we're actually having to owe. So I'm actually, 392 00:17:13,600 --> 00:17:16,320 Speaker 2: I really am kind of chomping up the return find 393 00:17:16,320 --> 00:17:17,560 Speaker 2: I had a reef I coming. It makes you a 394 00:17:17,560 --> 00:17:18,200 Speaker 2: little more exciting. 395 00:17:18,280 --> 00:17:20,520 Speaker 1: Yeah, yeah, so, and we should at some point, maybe soon, 396 00:17:20,560 --> 00:17:22,919 Speaker 1: talk about how to handle a refund, the average refund 397 00:17:22,960 --> 00:17:25,440 Speaker 1: being more than three grand for Americans, so we'll talk 398 00:17:25,440 --> 00:17:27,840 Speaker 1: about that too. Maybe a couple of weeks, sure, But 399 00:17:27,880 --> 00:17:29,920 Speaker 1: all right, let's uh, we got more to get to, Matt, 400 00:17:29,960 --> 00:17:33,359 Speaker 1: including more bad news for people who work from home. 401 00:17:33,760 --> 00:17:35,239 Speaker 1: I think we kind of pulled the rug out from 402 00:17:35,280 --> 00:17:37,760 Speaker 1: under you last week, and sadly we're gonna do it again. 403 00:17:38,040 --> 00:17:40,520 Speaker 2: No good news. Nope, we'll get to that and more 404 00:17:40,640 --> 00:17:50,480 Speaker 2: right after this. All right, man, we are back from 405 00:17:50,480 --> 00:17:53,200 Speaker 2: the break, and let's now get to the ludicrous headline 406 00:17:53,240 --> 00:17:54,800 Speaker 2: of the week. You remember, back in the day, we're 407 00:17:54,800 --> 00:17:58,320 Speaker 2: trying to get Elon Musk to sponsor ludacrous headline because 408 00:17:58,359 --> 00:18:01,360 Speaker 2: of ludicrous mode on Why here he doesn't have nearly 409 00:18:01,359 --> 00:18:02,920 Speaker 2: as much money as he used to match. He doesn't 410 00:18:02,920 --> 00:18:06,400 Speaker 2: after Delaware, Well what do they They're appealing that decision. 411 00:18:06,920 --> 00:18:07,959 Speaker 2: He's a compensation package. 412 00:18:08,040 --> 00:18:10,600 Speaker 1: So anyway, I mean, if I lost six billion from 413 00:18:10,600 --> 00:18:12,080 Speaker 1: my wallet, I wouldn't sponsor us either. 414 00:18:12,200 --> 00:18:16,040 Speaker 2: I would be appealing as well. Okay, this week's articles 415 00:18:16,080 --> 00:18:19,520 Speaker 2: from the Journal, and the headline read your new three 416 00:18:19,520 --> 00:18:22,439 Speaker 2: thousand dollars couch might be garbage in three years. This 417 00:18:22,600 --> 00:18:26,520 Speaker 2: is why. And you know, the basic suggestion in this 418 00:18:26,600 --> 00:18:30,639 Speaker 2: article is that fast fashion it's actually sort of leapt 419 00:18:30,680 --> 00:18:32,199 Speaker 2: out of its industry and it's made its way over 420 00:18:32,280 --> 00:18:34,920 Speaker 2: to furniture, and apparently they just don't make them like 421 00:18:34,920 --> 00:18:36,680 Speaker 2: they used to. They don't. They don't make this armchairs 422 00:18:36,760 --> 00:18:39,040 Speaker 2: like the used to Joel those futons. And one of 423 00:18:39,080 --> 00:18:42,600 Speaker 2: the culprits is the dozens of online furniture sellers. They're 424 00:18:42,880 --> 00:18:45,760 Speaker 2: not all created equal, and many of them actually use 425 00:18:45,960 --> 00:18:48,840 Speaker 2: just shoddy techniques that cause their products to not last 426 00:18:48,880 --> 00:18:51,120 Speaker 2: very long. They end up either like frayk, they discolor, 427 00:18:51,760 --> 00:18:54,680 Speaker 2: get all misshapen. After you sit on it a few times. 428 00:18:54,520 --> 00:18:57,080 Speaker 1: Adorable little mid centry buttons start popping off and you're like, 429 00:18:57,160 --> 00:18:57,840 Speaker 1: what happened. 430 00:18:58,000 --> 00:19:01,280 Speaker 2: Sounds like you're speaking from personal sperience. Essentially, they just 431 00:19:01,280 --> 00:19:05,040 Speaker 2: fall apart within months instead of years or honestly like 432 00:19:05,040 --> 00:19:08,800 Speaker 2: even decades like our parents expected. Our first grandma had 433 00:19:08,840 --> 00:19:11,320 Speaker 2: the same couch like my entire life. So maybe like 434 00:19:11,359 --> 00:19:13,320 Speaker 2: once every twenty years you get it recovered, you take 435 00:19:13,359 --> 00:19:17,040 Speaker 2: it to like a local reupholstery place. Yes, is that repholster? 436 00:19:17,200 --> 00:19:19,360 Speaker 2: That's right? Is that what you call somebody who does reopholstery? 437 00:19:19,400 --> 00:19:21,520 Speaker 2: I believe reupholster. So there was a person in the 438 00:19:21,640 --> 00:19:23,720 Speaker 2: UNS they're niggame with sandwich, and then that's what you 439 00:19:23,800 --> 00:19:26,159 Speaker 2: call them. They had a quote or one of the 440 00:19:26,280 --> 00:19:29,480 Speaker 2: individuals they profiled, they said that they're big lots couch 441 00:19:29,600 --> 00:19:31,399 Speaker 2: it actually held up better than the one that they 442 00:19:31,480 --> 00:19:34,280 Speaker 2: ended up buying for joy Bird, which I took a 443 00:19:34,280 --> 00:19:37,600 Speaker 2: little personally because I think we have something for Joybird 444 00:19:38,480 --> 00:19:41,480 Speaker 2: and it's just holding up all right. But not all 445 00:19:41,520 --> 00:19:45,000 Speaker 2: online sellers are out there peddling crap. We want folks 446 00:19:45,040 --> 00:19:48,200 Speaker 2: to be careful out there. And Consumer Reports they've got 447 00:19:48,200 --> 00:19:52,359 Speaker 2: some rankings of the best not only in person retailers, 448 00:19:52,359 --> 00:19:54,600 Speaker 2: but online retailers as well that you that you can 449 00:19:54,600 --> 00:19:57,160 Speaker 2: buy from Room and board and Costco they actually took 450 00:19:57,160 --> 00:20:00,000 Speaker 2: the top two slots, but simultaneously. 451 00:19:59,359 --> 00:20:02,120 Speaker 1: Only did they Sai cheap hot dogs but also amazing 452 00:20:02,119 --> 00:20:04,600 Speaker 1: travel packages solid furniture. But here's what's so. 453 00:20:04,600 --> 00:20:06,200 Speaker 2: Hard about that, And this is one of the issues 454 00:20:06,240 --> 00:20:09,600 Speaker 2: with online retail and especially something like someone like Costco, 455 00:20:09,760 --> 00:20:13,560 Speaker 2: is that, like there isn't a Costco furniture warehouse up 456 00:20:13,600 --> 00:20:16,119 Speaker 2: in Amage Country where there are crafts some in making 457 00:20:16,160 --> 00:20:18,280 Speaker 2: the most beautiful furniture. A lot of times these different 458 00:20:18,280 --> 00:20:21,600 Speaker 2: retailers are sourcing their goods from different manufacturers, and so 459 00:20:22,240 --> 00:20:24,199 Speaker 2: like you just have to really dig in. Yeah, Like 460 00:20:24,280 --> 00:20:25,960 Speaker 2: you have to put the work in to figure out 461 00:20:25,960 --> 00:20:28,160 Speaker 2: if the item that you are looking up buying if 462 00:20:28,160 --> 00:20:30,520 Speaker 2: it's getting good reviews, and you also need to know. 463 00:20:30,760 --> 00:20:32,600 Speaker 2: I think one of the reasons Costco rated so highly 464 00:20:32,680 --> 00:20:35,479 Speaker 2: is because of their return policy, Because when you don't 465 00:20:35,520 --> 00:20:37,760 Speaker 2: know whether something that you're going to order is going 466 00:20:37,800 --> 00:20:39,160 Speaker 2: to be solid or not, you need to be able 467 00:20:39,240 --> 00:20:41,160 Speaker 2: to send that thing back or to take that thing 468 00:20:41,200 --> 00:20:43,879 Speaker 2: back in person. So I think that's just one of 469 00:20:43,920 --> 00:20:45,280 Speaker 2: the many steps that you can take in order to 470 00:20:45,280 --> 00:20:47,639 Speaker 2: combat some of the cheaper furniture that's being sold online. 471 00:20:47,680 --> 00:20:50,480 Speaker 1: Yeah, I think the know the return policy, know the warranty, 472 00:20:50,720 --> 00:20:52,840 Speaker 1: and know the brand and the reviews of that brand. 473 00:20:52,840 --> 00:20:55,600 Speaker 1: Wire Hunters another great place to turn. They recommend article 474 00:20:55,760 --> 00:20:59,640 Speaker 1: as one of the top space spots for ordering furniture online. Okay, 475 00:20:59,760 --> 00:21:02,040 Speaker 1: I've got an article couch right, Yeah, you still dig 476 00:21:02,040 --> 00:21:04,360 Speaker 1: it it? I said Joybird, We don't. It wasn't joy 477 00:21:04,400 --> 00:21:05,320 Speaker 1: It was a. 478 00:21:04,960 --> 00:21:06,679 Speaker 2: Polly and Bark. That's right. I didn't think you had 479 00:21:06,720 --> 00:21:09,560 Speaker 2: joy Bird. Yeah, yeah, which, but again it's like, how 480 00:21:09,640 --> 00:21:12,359 Speaker 2: much better or worse is it? They're all kind of 481 00:21:12,359 --> 00:21:14,760 Speaker 2: the same. I think a lot of their stuff looks similar. 482 00:21:14,800 --> 00:21:15,840 Speaker 2: So it does. Yeah. 483 00:21:16,080 --> 00:21:18,399 Speaker 1: I think that's again why the return policy and the 484 00:21:18,440 --> 00:21:21,040 Speaker 1: warranty are worth looking at it. And also it might 485 00:21:21,080 --> 00:21:24,080 Speaker 1: sound crazy look to Facebook marketplace. Guess maybe something else 486 00:21:24,600 --> 00:21:27,320 Speaker 1: eight or ten years old. Reminds me of my grandpa 487 00:21:27,400 --> 00:21:28,880 Speaker 1: shirts that I owned that about it the thirst four 488 00:21:28,920 --> 00:21:32,440 Speaker 1: fifteen years ago. They still holding up even better than 489 00:21:32,480 --> 00:21:35,320 Speaker 1: some of the shirts that you might buy these days 490 00:21:35,640 --> 00:21:38,639 Speaker 1: brand new off the rack. Also, furniture has clearly gotten 491 00:21:38,640 --> 00:21:41,760 Speaker 1: more expensive in recent years, despite how much competition has 492 00:21:41,800 --> 00:21:44,200 Speaker 1: come into the space and Matt there was an article 493 00:21:44,200 --> 00:21:46,119 Speaker 1: in Barns that reminded me of what you and I 494 00:21:46,119 --> 00:21:48,440 Speaker 1: have been saying throughout this period of higher than normal inflation, 495 00:21:48,960 --> 00:21:51,280 Speaker 1: and that's that you and I and all of our 496 00:21:51,320 --> 00:21:54,439 Speaker 1: listeners we have more power to combat high prices than 497 00:21:54,480 --> 00:21:56,879 Speaker 1: we think. We usually think we're sitting ducks. We just 498 00:21:56,920 --> 00:21:58,960 Speaker 1: have to grin and Barrett take it on the chin. 499 00:21:59,440 --> 00:21:59,680 Speaker 2: Well. 500 00:22:00,080 --> 00:22:02,919 Speaker 1: Grocery stores, this art of home barans highlights are feeling 501 00:22:02,920 --> 00:22:05,600 Speaker 1: the heat from each other. It's a highly competitive industry. 502 00:22:05,600 --> 00:22:08,119 Speaker 1: The margins are raise are thin when it comes to 503 00:22:08,520 --> 00:22:11,840 Speaker 1: grocery store chains. It's not like they're making money hand 504 00:22:11,880 --> 00:22:15,879 Speaker 1: over fist like maybe in certain other industries, including like 505 00:22:16,119 --> 00:22:18,960 Speaker 1: certain tech companies. And prices are starting to level out 506 00:22:19,119 --> 00:22:22,400 Speaker 1: because consumers are changing their buying habits. So our ability 507 00:22:22,440 --> 00:22:24,320 Speaker 1: to hold off on a purchase, to wait for a sale, 508 00:22:24,840 --> 00:22:27,520 Speaker 1: or to ask for a discount, all those things have 509 00:22:27,560 --> 00:22:30,320 Speaker 1: a major impact on the personal rate of inflation that 510 00:22:30,400 --> 00:22:33,640 Speaker 1: we experience. And so just it's good to see inflation 511 00:22:33,840 --> 00:22:36,800 Speaker 1: chilling out. It's leveling out at the grocery store too. 512 00:22:37,200 --> 00:22:40,200 Speaker 1: And you know what, the more we can change what 513 00:22:40,200 --> 00:22:42,359 Speaker 1: we're spending on, the more actually it's going to have 514 00:22:42,400 --> 00:22:44,199 Speaker 1: an impact. I know, it's a drop in the bucket 515 00:22:44,240 --> 00:22:46,480 Speaker 1: overall of the overall rate of inflation. But that's drop 516 00:22:46,520 --> 00:22:48,359 Speaker 1: in the bucket matters for you, and it does actually 517 00:22:48,400 --> 00:22:51,600 Speaker 1: contribute to how retailers are able to price things overall. 518 00:22:51,720 --> 00:22:53,720 Speaker 2: Absolutely, yeah, I think I think what you said too, 519 00:22:53,720 --> 00:22:56,160 Speaker 2: just about changing your behavior and just holding off and 520 00:22:56,400 --> 00:22:58,919 Speaker 2: just asking yourself, do I really need this thing? We 521 00:22:58,960 --> 00:23:01,840 Speaker 2: oftentimes get our need confused with our wants, And it 522 00:23:01,680 --> 00:23:03,560 Speaker 2: makes me think about how Kate and I we've kind 523 00:23:03,600 --> 00:23:05,399 Speaker 2: of towards the end of last year, we started shopping 524 00:23:05,440 --> 00:23:07,639 Speaker 2: around a little bit, looking around and to see, Okay, 525 00:23:07,680 --> 00:23:09,879 Speaker 2: at some point next year in twenty twenty four, we 526 00:23:09,920 --> 00:23:12,879 Speaker 2: probably are going to need a second vehicle. But there's 527 00:23:12,920 --> 00:23:15,639 Speaker 2: just a big difference between something we actually need versus 528 00:23:15,640 --> 00:23:18,679 Speaker 2: something we think that we need. And what I realized, 529 00:23:18,680 --> 00:23:21,080 Speaker 2: I saw myself kind of going down the slippery slope. 530 00:23:21,119 --> 00:23:25,200 Speaker 2: And I've almost already mentally and emotionally purchased this vehicle 531 00:23:25,240 --> 00:23:29,239 Speaker 2: because we goti. Yes, actually it's just a few year 532 00:23:29,280 --> 00:23:32,040 Speaker 2: old Toyota Row four hybrid baby, Like I could picture 533 00:23:32,080 --> 00:23:34,000 Speaker 2: it in my driveway, Like I'm like, oh man, it 534 00:23:34,040 --> 00:23:35,600 Speaker 2: would be so much fun to have my own ride. 535 00:23:35,640 --> 00:23:38,160 Speaker 2: I haven't had my own car in like fifteen years, 536 00:23:38,400 --> 00:23:41,640 Speaker 2: which is crazy, I'm sure to most of our most 537 00:23:41,680 --> 00:23:43,879 Speaker 2: of our listeners out there who are listening to this, 538 00:23:43,960 --> 00:23:47,080 Speaker 2: A vehicle is certainly more of a requirement, more of 539 00:23:47,119 --> 00:23:49,200 Speaker 2: a need, as opposed to a one, but in our 540 00:23:49,280 --> 00:23:52,720 Speaker 2: case it hasn't been. But again, what I'm getting at 541 00:23:52,880 --> 00:23:55,399 Speaker 2: is like, once you start going down that path of 542 00:23:55,680 --> 00:23:58,520 Speaker 2: shopping and envisioning what your life would be like with something, 543 00:23:58,880 --> 00:24:00,880 Speaker 2: even though we don't necessary really need it, like we 544 00:24:00,880 --> 00:24:03,919 Speaker 2: were still moving in that direction as opposed to just 545 00:24:04,040 --> 00:24:06,560 Speaker 2: hitting pause and saying yourself, like in granted this is 546 00:24:06,600 --> 00:24:10,000 Speaker 2: an extreme example, like, again, most people do need a vehicle, 547 00:24:10,520 --> 00:24:12,920 Speaker 2: but do you need a vehicle that's as nice as 548 00:24:12,920 --> 00:24:14,600 Speaker 2: the one you're looking at? I bet you could go 549 00:24:14,640 --> 00:24:16,520 Speaker 2: with something that's a little more affordable that would then 550 00:24:16,560 --> 00:24:20,399 Speaker 2: allow you to pursue some of your other financial goals. 551 00:24:20,640 --> 00:24:22,920 Speaker 2: But I think it's just a good thing in this way, 552 00:24:22,920 --> 00:24:25,320 Speaker 2: at least a second guess yourself and holds off a 553 00:24:25,359 --> 00:24:25,920 Speaker 2: little bit longer. 554 00:24:26,000 --> 00:24:29,080 Speaker 1: Yes, much smaller example, But we're have some folks coming 555 00:24:29,119 --> 00:24:30,840 Speaker 1: over and we've only got one TV in our house, 556 00:24:31,040 --> 00:24:32,480 Speaker 1: but we want to put the kids in one room 557 00:24:32,520 --> 00:24:34,760 Speaker 1: and let them watch something and adults watching something else, 558 00:24:34,920 --> 00:24:36,320 Speaker 1: and Emily was like, guess we need to buy a 559 00:24:36,359 --> 00:24:39,080 Speaker 1: new TV, and I was like, actually, pretty sure there's 560 00:24:39,080 --> 00:24:41,640 Speaker 1: a one off thing. I could probably borrow one from somebody. 561 00:24:41,680 --> 00:24:43,400 Speaker 1: So instead of like dropping, I was just gonna drop 562 00:24:43,440 --> 00:24:45,639 Speaker 1: like one hundred and seventy six dollars actually I know 563 00:24:45,680 --> 00:24:49,359 Speaker 1: the exact amount on a smart TV from Walmart. 564 00:24:49,400 --> 00:24:51,159 Speaker 2: That's the best deal I found. And I was like 565 00:24:51,240 --> 00:24:52,760 Speaker 2: that's not a bad price, all right, cool? 566 00:24:53,320 --> 00:24:55,480 Speaker 1: But then I questioned it and I was like, do 567 00:24:55,520 --> 00:24:57,280 Speaker 1: I even need to spend that? Like can I just 568 00:24:57,320 --> 00:25:00,960 Speaker 1: borrow it for this one day instead of like, we're rarely, 569 00:25:01,080 --> 00:25:03,320 Speaker 1: if ever, going to use a second TV in a 570 00:25:03,359 --> 00:25:05,920 Speaker 1: normal week or year, And so I'm yeah, I'm just 571 00:25:05,920 --> 00:25:07,320 Speaker 1: gonna borrow one from my folks and then take it 572 00:25:07,359 --> 00:25:08,040 Speaker 1: back when we're done. 573 00:25:08,200 --> 00:25:09,919 Speaker 2: Nice. Is that the cheap I don't want to say, 574 00:25:09,960 --> 00:25:12,199 Speaker 2: cheat move. Do you want to have a TV down 575 00:25:12,240 --> 00:25:14,240 Speaker 2: there at some point? Anyway? That's the thing. We don't 576 00:25:14,240 --> 00:25:15,080 Speaker 2: were not gonna use it. Really. 577 00:25:15,080 --> 00:25:16,840 Speaker 1: If if I was like, oh, we'll probably use it 578 00:25:16,880 --> 00:25:18,840 Speaker 1: once or twice a month, then I would buy it. 579 00:25:18,920 --> 00:25:21,879 Speaker 1: But yeah, I'm like we're not, so I'll borrow it. 580 00:25:22,240 --> 00:25:25,240 Speaker 1: I like it, man, I'm taking the Katie Wolk Stanley route. 581 00:25:26,000 --> 00:25:28,280 Speaker 1: Use it up, borrow it, make do I forget what 582 00:25:28,440 --> 00:25:28,920 Speaker 1: what doing? 583 00:25:28,920 --> 00:25:31,560 Speaker 2: Make it do? Or do it it's out? Yeah, yeah, dude, 584 00:25:31,640 --> 00:25:33,960 Speaker 2: that's that's the other thing too, Like I really love 585 00:25:34,040 --> 00:25:35,920 Speaker 2: the wearing it out part of it because, like I 586 00:25:35,920 --> 00:25:37,119 Speaker 2: don't know, I was just thinking about this. I just 587 00:25:37,160 --> 00:25:39,000 Speaker 2: switched to a new pin because I just had a 588 00:25:39,040 --> 00:25:41,600 Speaker 2: pin that ran out of ink like ten minutes ago, 589 00:25:41,640 --> 00:25:43,360 Speaker 2: and I thought, man, I can't I remember the last 590 00:25:43,400 --> 00:25:44,959 Speaker 2: time I was using a pin that ran out of ink. 591 00:25:45,000 --> 00:25:46,879 Speaker 2: Because oftentimes we can just end up throwing things away 592 00:25:46,960 --> 00:25:49,679 Speaker 2: just because they looked kind of shabby, as opposed to 593 00:25:49,760 --> 00:25:52,000 Speaker 2: it being perfectly fine. So we're pushing folks in that 594 00:25:52,400 --> 00:25:55,679 Speaker 2: direction of using things up and being happy with what 595 00:25:55,720 --> 00:25:57,840 Speaker 2: it is that that you've got. But that being said, 596 00:25:57,880 --> 00:25:59,919 Speaker 2: sometimes you do want to buy new stuff, especially tea. 597 00:26:00,560 --> 00:26:03,920 Speaker 2: At least I remember being a teenager and wanting new things. 598 00:26:04,000 --> 00:26:05,840 Speaker 2: There were a lot of ONTs. Yeah yeah, yeah. So 599 00:26:06,119 --> 00:26:07,879 Speaker 2: all that being said, if you have been guilty of 600 00:26:07,920 --> 00:26:11,480 Speaker 2: calling younger generations lazy, you might want to eat those words, 601 00:26:11,520 --> 00:26:15,720 Speaker 2: because evidently kids are working. Teen employment reached a fourteen 602 00:26:15,840 --> 00:26:19,480 Speaker 2: year high this year, which means that high schoolers are 603 00:26:19,560 --> 00:26:22,560 Speaker 2: not afraid to get a part time job. And the 604 00:26:22,720 --> 00:26:25,439 Speaker 2: increase has to do with the abundance of jobs. It 605 00:26:25,480 --> 00:26:27,240 Speaker 2: has to do with the higher rates of pay that 606 00:26:27,320 --> 00:26:30,280 Speaker 2: are available to teens. Right now, younger workers have seen 607 00:26:30,560 --> 00:26:34,120 Speaker 2: more dramatic pay raises than any other segment of the population, 608 00:26:34,640 --> 00:26:38,000 Speaker 2: with wages rising almost ten percent year over year. And 609 00:26:38,040 --> 00:26:39,760 Speaker 2: so I think that's good news in our book, the 610 00:26:39,760 --> 00:26:42,359 Speaker 2: ability to get a bunch of young workers out there 611 00:26:42,560 --> 00:26:45,560 Speaker 2: when otherwise maybe they just be sitting around watching TV. 612 00:26:45,600 --> 00:26:48,639 Speaker 2: I don't know, Nintendo switching their phones. Yeah. Like, we're 613 00:26:48,640 --> 00:26:52,119 Speaker 2: obviously not calling for the normalization of child labor, but 614 00:26:52,160 --> 00:26:54,520 Speaker 2: there's just a lot of good that teens can experience 615 00:26:54,840 --> 00:26:57,359 Speaker 2: on not only the financial but also the relational front 616 00:26:57,400 --> 00:26:59,959 Speaker 2: by working just a part time job, like even just 617 00:27:00,160 --> 00:27:03,399 Speaker 2: like five to fifteen hours a week. I love that. 618 00:27:03,440 --> 00:27:06,200 Speaker 2: Towards the end of the story, they highlighted a teenager 619 00:27:06,440 --> 00:27:08,800 Speaker 2: and she really works one shift a week, and she 620 00:27:08,880 --> 00:27:10,399 Speaker 2: points to the fact that she knows that this is 621 00:27:10,440 --> 00:27:12,840 Speaker 2: going to be She's not making a bank, but it 622 00:27:12,920 --> 00:27:15,360 Speaker 2: gives her great experience because someday she wants to own 623 00:27:15,480 --> 00:27:17,199 Speaker 2: her own business, and so for her being in the 624 00:27:17,200 --> 00:27:20,720 Speaker 2: service industry, it's huge the different lessons that she's learning 625 00:27:20,800 --> 00:27:21,400 Speaker 2: learning on the job. 626 00:27:21,440 --> 00:27:23,359 Speaker 1: For sure, I love it, And yeah it's not maybe 627 00:27:23,400 --> 00:27:25,320 Speaker 1: the paycheck's not massive, but at least the hourly rates 628 00:27:25,359 --> 00:27:28,680 Speaker 1: higher and the experience is invaluable. And Matt, let's talk 629 00:27:28,680 --> 00:27:31,880 Speaker 1: about jobs a little bit longer. We've talked about how 630 00:27:31,920 --> 00:27:34,840 Speaker 1: fully remote workers are less likely to get a raise 631 00:27:34,960 --> 00:27:37,960 Speaker 1: or a promotion. But there's more bad news. If you 632 00:27:38,080 --> 00:27:40,760 Speaker 1: work from home full time, you'll often actually be the 633 00:27:40,760 --> 00:27:44,199 Speaker 1: first to get axed if your company starts downsizing. And 634 00:27:44,240 --> 00:27:45,920 Speaker 1: we hate to be the bearers of bad news, yep, 635 00:27:46,119 --> 00:27:49,960 Speaker 1: but new stats from this company, Live Data Technologies, find 636 00:27:50,000 --> 00:27:52,400 Speaker 1: that ten percent of fully remote workers were laid off 637 00:27:52,440 --> 00:27:55,120 Speaker 1: last year compared to seven percent of hybrid and full 638 00:27:55,160 --> 00:27:58,520 Speaker 1: time in office folks. Why the disparity, Well, it might 639 00:27:58,560 --> 00:28:00,639 Speaker 1: not even be because you're less product or you're not 640 00:28:00,680 --> 00:28:03,359 Speaker 1: good at your job, although I think if you're fantastic 641 00:28:03,400 --> 00:28:05,320 Speaker 1: at your job and you work from home, your employer 642 00:28:05,400 --> 00:28:07,720 Speaker 1: is probably not gonna let you off. But it is 643 00:28:07,880 --> 00:28:10,760 Speaker 1: more of a human instinct to slash the job of 644 00:28:10,800 --> 00:28:13,199 Speaker 1: the person you don't have to see every day. It 645 00:28:13,359 --> 00:28:14,119 Speaker 1: like face to face. 646 00:28:14,640 --> 00:28:16,399 Speaker 2: Yeah, it goes to the person that you don't have 647 00:28:16,440 --> 00:28:19,840 Speaker 2: to look in the eye necessarily because you're looking at 648 00:28:19,880 --> 00:28:22,680 Speaker 2: the camera instead of the screen. Yes, but like literally, 649 00:28:23,119 --> 00:28:24,879 Speaker 2: I mean it makes me think going back to the 650 00:28:25,000 --> 00:28:27,240 Speaker 2: rays or the promotion thing, Like it's obviously not all 651 00:28:27,280 --> 00:28:30,359 Speaker 2: about the human connection that we form by being in 652 00:28:30,400 --> 00:28:33,639 Speaker 2: the office together, but you can't discount that either, Like 653 00:28:33,720 --> 00:28:36,680 Speaker 2: it has an impact on your conversation and whether or 654 00:28:36,720 --> 00:28:39,160 Speaker 2: not you even keep the job to begin with. And 655 00:28:39,360 --> 00:28:42,120 Speaker 2: unemployment it is still at record lows. But if the 656 00:28:42,240 --> 00:28:45,440 Speaker 2: it kindoly does titan, if layoffs do increase, man at 657 00:28:45,440 --> 00:28:47,440 Speaker 2: home employees, they're gonna they're gonna feel it the most. 658 00:28:47,520 --> 00:28:49,120 Speaker 1: Yeah, And just like you and I talked about with 659 00:28:49,720 --> 00:28:51,760 Speaker 1: you have to just think about the trade offs. And 660 00:28:51,800 --> 00:28:54,480 Speaker 1: maybe if you work from home full time and you 661 00:28:54,520 --> 00:28:56,240 Speaker 1: do think, you know what, I might be the first 662 00:28:56,240 --> 00:28:58,480 Speaker 1: person on the chopping block. It's a good idea maybe 663 00:28:58,480 --> 00:29:01,000 Speaker 1: to have more savings to pat out your savings more 664 00:29:01,040 --> 00:29:03,360 Speaker 1: than someone who works in the office five days a 665 00:29:03,360 --> 00:29:05,520 Speaker 1: week and feels like their job is more solid. 666 00:29:06,160 --> 00:29:07,760 Speaker 2: So just not it's just. 667 00:29:07,760 --> 00:29:11,240 Speaker 1: Worth pointing out, Hey, if the economy does experience some turbulence, 668 00:29:11,440 --> 00:29:13,600 Speaker 1: people who work from home might experience more. 669 00:29:13,440 --> 00:29:15,760 Speaker 2: Turbulence, you warned. Yeah, So next week we're going to 670 00:29:15,800 --> 00:29:19,160 Speaker 2: be speaking with career professional. We're talking about jobs here. 671 00:29:19,160 --> 00:29:21,760 Speaker 2: We're going to talk about jobs that pay really well, 672 00:29:21,760 --> 00:29:23,560 Speaker 2: careers that you love. So you can look forward to 673 00:29:23,560 --> 00:29:25,719 Speaker 2: that episode next Wednesday for sure. Okay. 674 00:29:26,040 --> 00:29:28,280 Speaker 1: One place you might want to consider working, though, Matt, 675 00:29:28,600 --> 00:29:30,520 Speaker 1: if you're in the market for a new job or 676 00:29:30,560 --> 00:29:33,120 Speaker 1: if you're looking to get paid more, is Walmart. 677 00:29:33,320 --> 00:29:34,560 Speaker 2: But she didn't think I was going to say that. 678 00:29:35,520 --> 00:29:36,120 Speaker 2: I did because I know. 679 00:29:37,720 --> 00:29:40,200 Speaker 1: There was some articles this week highlighting the fact that 680 00:29:40,640 --> 00:29:43,640 Speaker 1: some Walmart store managers make four hundred grand. 681 00:29:43,640 --> 00:29:48,120 Speaker 2: A year over four hundred yeah, with like salary bonuses, superpress. 682 00:29:48,240 --> 00:29:51,280 Speaker 2: Not only that, but evidently stock options or not stock options, 683 00:29:51,320 --> 00:29:54,040 Speaker 2: but like stock grants, grants. 684 00:29:54,640 --> 00:29:56,680 Speaker 1: So this article in the New York Times was highlighting 685 00:29:57,000 --> 00:29:59,440 Speaker 1: something actually that I was reading about in Sam Walton's 686 00:29:59,440 --> 00:30:01,640 Speaker 1: autobiography Made in America. Man, I'm reading that right now, 687 00:30:01,640 --> 00:30:04,360 Speaker 1: almost done with it. Really interesting book, but that he 688 00:30:04,760 --> 00:30:07,640 Speaker 1: for so many years incentivized his employees to invest in 689 00:30:07,680 --> 00:30:08,400 Speaker 1: Walmart's stock. 690 00:30:08,760 --> 00:30:11,840 Speaker 2: And uh, before before you keep going, it's really called maid. 691 00:30:12,240 --> 00:30:14,720 Speaker 2: It's really called in America and actually that's so ironic. 692 00:30:15,840 --> 00:30:18,520 Speaker 1: Well, the actually the Sony Sony CEO wrote one called 693 00:30:18,560 --> 00:30:20,000 Speaker 1: Maid and Japan, and I think he riffed on that, 694 00:30:20,440 --> 00:30:22,800 Speaker 1: so well, like that's accurate at least. 695 00:30:22,720 --> 00:30:25,120 Speaker 2: Because I mean, come on, so Simon's are most of 696 00:30:25,160 --> 00:30:27,560 Speaker 2: the things that they sell that Walmart. That's a good point. 697 00:30:27,560 --> 00:30:30,440 Speaker 2: Come on, No, but he was he was made in America. 698 00:30:30,480 --> 00:30:33,200 Speaker 2: I get that. But simultaneously, like when you see that 699 00:30:33,240 --> 00:30:35,040 Speaker 2: it's like made in China and that like the default 700 00:30:35,080 --> 00:30:37,200 Speaker 2: thing that think that's the default thing that I think 701 00:30:37,240 --> 00:30:38,120 Speaker 2: of when I hear. 702 00:30:38,120 --> 00:30:40,640 Speaker 1: It probably wasn't when it came out like twenty five 703 00:30:40,680 --> 00:30:41,040 Speaker 1: years ago. 704 00:30:41,480 --> 00:30:42,400 Speaker 2: Maybe not, I don't know. 705 00:30:42,920 --> 00:30:44,880 Speaker 1: But some of his associates he documents in this in 706 00:30:44,920 --> 00:30:47,760 Speaker 1: his book, who worked at Walmart for decades. They ended 707 00:30:47,840 --> 00:30:50,920 Speaker 1: up becoming millionaires, not necessarily because of the wages they earned, 708 00:30:51,160 --> 00:30:53,320 Speaker 1: but because they put their money that they were earning 709 00:30:53,600 --> 00:30:55,280 Speaker 1: into buying shares of Walmart stock. 710 00:30:55,840 --> 00:30:56,560 Speaker 2: And it was kind of. 711 00:30:56,560 --> 00:30:58,080 Speaker 1: Cool to see, oh, hey, I was there for twenty 712 00:30:58,120 --> 00:30:59,840 Speaker 1: or twenty five years and guess what I'm retalking with 713 00:31:00,120 --> 00:31:02,560 Speaker 1: a million bucks. Not that we would encourage people to 714 00:31:02,720 --> 00:31:05,520 Speaker 1: invest in company stock, the stock of the company they 715 00:31:05,560 --> 00:31:08,240 Speaker 1: work for, but still just really interesting. And some of 716 00:31:08,280 --> 00:31:10,520 Speaker 1: those policies were reduced in scale or done away with 717 00:31:10,600 --> 00:31:12,800 Speaker 1: over the years. But they're making a comeback at Walmart, 718 00:31:12,960 --> 00:31:15,880 Speaker 1: and so wages in general are going up, like we 719 00:31:16,000 --> 00:31:17,840 Speaker 1: just talked about with teens at the lower end of 720 00:31:17,840 --> 00:31:20,680 Speaker 1: the pay scale. But yeah, Walmart announced stock grants for 721 00:31:20,720 --> 00:31:24,560 Speaker 1: store managers this week. They're making a comeback. And Sam's philosophy, 722 00:31:24,600 --> 00:31:26,560 Speaker 1: Matt it really it really grew over the years and 723 00:31:26,600 --> 00:31:29,760 Speaker 1: he kind of realized that the need to treat your 724 00:31:29,760 --> 00:31:32,200 Speaker 1: employees well so that they'll treat their customers well. I 725 00:31:32,200 --> 00:31:34,400 Speaker 1: think when he first started off, he didn't really understand 726 00:31:34,440 --> 00:31:37,120 Speaker 1: that and it negatively impacted his business. But as he 727 00:31:37,200 --> 00:31:41,800 Speaker 1: understood that, it started to treat his employees better that 728 00:31:41,800 --> 00:31:44,320 Speaker 1: that helps to improve the company. And this incentive, I 729 00:31:44,360 --> 00:31:46,440 Speaker 1: think is Walmart putting their money where their mouth is. 730 00:31:46,520 --> 00:31:50,920 Speaker 2: Totally. Yeah, And so you mentioned single stock investing basically 731 00:31:51,000 --> 00:31:54,640 Speaker 2: or investing with maybe the company that also employees. So 732 00:31:54,640 --> 00:31:57,560 Speaker 2: it's worth kind of tackling the other side of the coin. 733 00:31:57,640 --> 00:31:59,920 Speaker 2: I guess about whether or not an employee should once 734 00:32:00,080 --> 00:32:03,520 Speaker 2: you own significant amounts of stock of their employer, and 735 00:32:03,920 --> 00:32:06,160 Speaker 2: you know, to not have too many of their eggs 736 00:32:06,200 --> 00:32:08,720 Speaker 2: one basket. The answer is no. But we're kind of 737 00:32:08,720 --> 00:32:11,960 Speaker 2: focusing on the positive here, Like this is a first 738 00:32:12,000 --> 00:32:14,440 Speaker 2: order question, right, like what would you do otherwise with 739 00:32:14,520 --> 00:32:17,120 Speaker 2: the money if you weren't gonna invest it at all? 740 00:32:17,560 --> 00:32:19,800 Speaker 2: If the answer is just consume it, well, then shoot, 741 00:32:20,040 --> 00:32:23,000 Speaker 2: investing is going to be when the majority of Americans 742 00:32:23,080 --> 00:32:26,400 Speaker 2: are under saving investing for their retirement. The answer here 743 00:32:26,640 --> 00:32:29,800 Speaker 2: is a slam dunk. Yes, go ahead and invest those dollars. 744 00:32:29,920 --> 00:32:32,160 Speaker 2: But if you're looking to to truly optimize what you 745 00:32:32,200 --> 00:32:34,560 Speaker 2: do because a lot of times those stocks are offered 746 00:32:34,640 --> 00:32:37,720 Speaker 2: via an ESPP is that employee stock purchase plan, and 747 00:32:37,880 --> 00:32:40,320 Speaker 2: a lot of times those stocks are offered at a discount. 748 00:32:40,400 --> 00:32:42,440 Speaker 1: Baby, So here's what you do, is like a ten 749 00:32:42,520 --> 00:32:45,239 Speaker 1: or fifteen percent discount. Yes, so what you do? You 750 00:32:45,280 --> 00:32:47,080 Speaker 1: take advantage of those stocks being on sale. You hang 751 00:32:47,080 --> 00:32:48,200 Speaker 1: on to know them for as long as you need to, 752 00:32:48,520 --> 00:32:51,240 Speaker 1: like three months, six months, yep, that kind of thing. 753 00:32:51,760 --> 00:32:53,880 Speaker 1: Then you go ahead and sell it and go ahead 754 00:32:53,880 --> 00:32:57,440 Speaker 1: and invest instead in a total stock market index fund 755 00:32:57,480 --> 00:33:01,560 Speaker 1: or the S and P five hundred index that way diversified. Yeah, 756 00:33:01,680 --> 00:33:04,320 Speaker 1: take advantage of that sale exactly basically what you're getting 757 00:33:04,320 --> 00:33:06,880 Speaker 1: here exactly. But I think like what this makes me 758 00:33:06,920 --> 00:33:08,960 Speaker 1: think of, though, is that Walmart wants its employees and 759 00:33:09,000 --> 00:33:10,880 Speaker 1: managers to feel like owners. And I'm not, by the way, 760 00:33:10,920 --> 00:33:12,520 Speaker 1: trying to make Walmart out to be some sort of 761 00:33:12,640 --> 00:33:16,480 Speaker 1: exemplary organization. It's an interesting book, and I think Walmart's 762 00:33:16,480 --> 00:33:19,080 Speaker 1: an interesting company, but it also, I think rightly so 763 00:33:19,360 --> 00:33:22,640 Speaker 1: gets its fair share of enemy fire. Like, Walmart's not 764 00:33:22,760 --> 00:33:25,520 Speaker 1: a perfect company, and they've had issues over the years, 765 00:33:25,600 --> 00:33:29,320 Speaker 1: especially in recent years, but I like that they're trying 766 00:33:29,360 --> 00:33:32,640 Speaker 1: to incentivize their employees to have a stake in the 767 00:33:32,720 --> 00:33:35,040 Speaker 1: success of the company. And it really goes a long 768 00:33:35,080 --> 00:33:37,800 Speaker 1: way for the employees and their finances, but also for 769 00:33:37,840 --> 00:33:40,400 Speaker 1: their mindset and their relationship with their employer. And this 770 00:33:40,520 --> 00:33:43,720 Speaker 1: is just I think something that anybody who employs other 771 00:33:43,760 --> 00:33:47,400 Speaker 1: people can learn from. How do you help your employees 772 00:33:47,720 --> 00:33:51,000 Speaker 1: have a stake in the success of the company a 773 00:33:51,040 --> 00:33:54,360 Speaker 1: way that they benefit when you benefit. That's just a 774 00:33:54,360 --> 00:33:57,080 Speaker 1: helpful way to keep people engaged and to keep talent 775 00:33:57,120 --> 00:33:57,800 Speaker 1: around long term. 776 00:33:57,880 --> 00:33:59,640 Speaker 2: That's right, man, I love it. Sweet all right, We 777 00:33:59,640 --> 00:34:01,560 Speaker 2: hope has a great weekend. That's gonna be it for 778 00:34:01,640 --> 00:34:03,960 Speaker 2: this Friday flight. We'll see you back here on Monday. 779 00:34:03,960 --> 00:34:06,280 Speaker 2: We're gonna answer some more listener questions like we do. 780 00:34:06,600 --> 00:34:08,279 Speaker 2: If you haven't left us a review, by the way, 781 00:34:08,320 --> 00:34:11,160 Speaker 2: head over to Apple Podcasts wherever you listen. We had question, 782 00:34:11,320 --> 00:34:12,480 Speaker 2: love to see more of those. 783 00:34:12,640 --> 00:34:13,960 Speaker 1: Do you think Taylor is going to give you able 784 00:34:13,960 --> 00:34:16,040 Speaker 1: to get back from Japan in time for the Super 785 00:34:16,040 --> 00:34:17,680 Speaker 1: Bowl a week from the Sunday? 786 00:34:17,719 --> 00:34:20,920 Speaker 2: Wait? What? I think she's got a tour or something. 787 00:34:21,040 --> 00:34:22,439 Speaker 2: I don't know. I don't really care about that stuff, 788 00:34:22,440 --> 00:34:24,440 Speaker 2: so you obviously do. I don't know why I even 789 00:34:24,480 --> 00:34:27,000 Speaker 2: asked it. I'm sorry if we were talking about Made 790 00:34:27,000 --> 00:34:30,240 Speaker 2: in Japan earlier, and yeah, you're thinking about the weekend, 791 00:34:30,360 --> 00:34:31,600 Speaker 2: just football, all that kind of stuff. 792 00:34:31,640 --> 00:34:34,880 Speaker 1: Sorry, yeah, no football this weekend. Wait for the weekend. 793 00:34:34,880 --> 00:34:36,839 Speaker 1: But all right, that's gonna do it until next time. 794 00:34:37,080 --> 00:34:39,239 Speaker 1: Best Friends Out, Best Friends Out.