1 00:00:00,080 --> 00:00:02,600 Speaker 1: Welcome to How the Money. I'm Joel and I am 2 00:00:02,640 --> 00:00:06,000 Speaker 1: Matt's and today we're discussing bitcoin, blowing up cars that 3 00:00:06,080 --> 00:00:28,800 Speaker 1: hold their value, and Christmas trees so hot right now? Yeah, buddy, 4 00:00:28,800 --> 00:00:33,199 Speaker 1: that's right. Every Friday episode, you know, we tackle several headlines, uh, 5 00:00:33,240 --> 00:00:36,680 Speaker 1: and specifically we're talking about how they relate to our 6 00:00:36,680 --> 00:00:39,680 Speaker 1: personal finances, how they relate to our money. We've got 7 00:00:39,720 --> 00:00:42,120 Speaker 1: those stories plus several others that we're gonna get to. 8 00:00:42,200 --> 00:00:44,960 Speaker 1: But first, man, I wanted to mention I wanted to 9 00:00:45,000 --> 00:00:48,639 Speaker 1: have a little discussion on firewood. So several weeks ago, 10 00:00:49,040 --> 00:00:52,400 Speaker 1: a storm down a bunch of trees in our you know, 11 00:00:52,479 --> 00:00:54,840 Speaker 1: in Atlanta and around our neighborhoods. It was the same 12 00:00:54,840 --> 00:00:56,920 Speaker 1: storm actually that knocked that branch into your window, Yes 13 00:00:56,960 --> 00:00:59,400 Speaker 1: it was and shattered it. But there are a bunch 14 00:00:59,440 --> 00:01:02,160 Speaker 1: of huge, huge, old, hundred year old oaks that that 15 00:01:02,240 --> 00:01:05,280 Speaker 1: got taken down by that storm. And I have been 16 00:01:05,280 --> 00:01:08,039 Speaker 1: going around and I've been picking up firewood on the 17 00:01:08,040 --> 00:01:10,399 Speaker 1: side of the road. I've been picking that up, splitting it. 18 00:01:10,480 --> 00:01:12,600 Speaker 1: You and I we actually did some wood splitting, uh 19 00:01:12,840 --> 00:01:15,720 Speaker 1: recently after we recorded one Friday episode. Nice to be 20 00:01:15,760 --> 00:01:19,320 Speaker 1: like a lumberjack that day. Yeah, it's a good workout too, man, 21 00:01:19,319 --> 00:01:21,160 Speaker 1: it's a lot of fun. But so I kind of 22 00:01:21,160 --> 00:01:22,920 Speaker 1: wanted to ask you the question in your mind, is 23 00:01:22,920 --> 00:01:25,759 Speaker 1: it fruel or cheap to you know, if you see 24 00:01:25,800 --> 00:01:27,240 Speaker 1: some firewood on the side of the road, or if 25 00:01:27,280 --> 00:01:29,119 Speaker 1: you see a down tree and it's cut up into 26 00:01:29,160 --> 00:01:31,600 Speaker 1: perfect length sections, you know, would you take that and 27 00:01:31,640 --> 00:01:33,480 Speaker 1: load it up in your car and take it home? 28 00:01:34,160 --> 00:01:36,399 Speaker 1: Would you come back and make four more trips? Because 29 00:01:36,800 --> 00:01:38,920 Speaker 1: which is also what I did, because I felt like 30 00:01:38,959 --> 00:01:40,880 Speaker 1: I had hit the jackpot. Man, like these pieces where 31 00:01:40,880 --> 00:01:43,280 Speaker 1: we're cutting into perfect length rounds, and I was like, 32 00:01:43,360 --> 00:01:44,920 Speaker 1: this is the perfect kind of wood I can take 33 00:01:44,959 --> 00:01:47,400 Speaker 1: home and split to use for bondfires. Yeah. So sometimes 34 00:01:47,440 --> 00:01:49,720 Speaker 1: they're just way too big, right, not manageable unless you 35 00:01:49,840 --> 00:01:53,240 Speaker 1: also have a chainsaw, which I don't cut them even further. Um, 36 00:01:53,280 --> 00:01:55,320 Speaker 1: But no, dude, I don't. I think that's frugal man, 37 00:01:55,360 --> 00:01:57,600 Speaker 1: take advantage of the free firewood. And I saw your 38 00:01:57,640 --> 00:02:00,600 Speaker 1: pile in the backyard and free fuel man, just rety impressive. 39 00:02:00,600 --> 00:02:03,760 Speaker 1: How big the split wood pile? Yeah, exactly, gotta tucked 40 00:02:03,800 --> 00:02:05,440 Speaker 1: up under the playhouse there, And so part of the 41 00:02:05,440 --> 00:02:07,720 Speaker 1: reason obviously is fun to have bond fires in the backyard. 42 00:02:07,840 --> 00:02:10,120 Speaker 1: But Kate and I we actually recently purchased a wood 43 00:02:10,120 --> 00:02:12,760 Speaker 1: burning stove, and so that's a part of the reason 44 00:02:12,960 --> 00:02:15,760 Speaker 1: why we've kind of double down on our fuel collection efforts. 45 00:02:15,800 --> 00:02:17,600 Speaker 1: We want to make sure we've got plenty of firewood 46 00:02:17,600 --> 00:02:19,480 Speaker 1: to be able to burn for us. It's kind of a, 47 00:02:19,560 --> 00:02:21,679 Speaker 1: I guess, a nostalgic thing. Like back after college, I 48 00:02:21,720 --> 00:02:23,280 Speaker 1: had a woodburning stove and I lived up in North 49 00:02:23,280 --> 00:02:26,400 Speaker 1: Carolina and it was literally the only source of heat 50 00:02:26,960 --> 00:02:29,240 Speaker 1: in our house. And so ever since those days, right, 51 00:02:29,280 --> 00:02:30,720 Speaker 1: let's when Kate and I first started dating. She was 52 00:02:30,720 --> 00:02:33,119 Speaker 1: still in college, but she would drive up and visit, uh, 53 00:02:33,120 --> 00:02:34,919 Speaker 1: and you know, we'd always have a bunch of friends 54 00:02:34,919 --> 00:02:37,440 Speaker 1: over we've got the fire going. It was we've got 55 00:02:37,520 --> 00:02:41,280 Speaker 1: very fond memories of the joy that a woodburning stove 56 00:02:41,480 --> 00:02:44,240 Speaker 1: brought us, uh, And so we actually gifted that to 57 00:02:44,280 --> 00:02:47,280 Speaker 1: each other for Christmas coming up. But also, man, it 58 00:02:47,320 --> 00:02:49,520 Speaker 1: turns out that this is the perfect time to buy 59 00:02:49,520 --> 00:02:52,560 Speaker 1: one of those, because there is a three federal tax 60 00:02:52,600 --> 00:02:58,040 Speaker 1: credit for biomass stove. In a wood stove qualifies as 61 00:02:58,080 --> 00:03:01,119 Speaker 1: a biomass stove, it's got to me some specific requirements. 62 00:03:01,120 --> 00:03:02,960 Speaker 1: But other than that, man, I mean for us that 63 00:03:03,040 --> 00:03:05,480 Speaker 1: almost have the cost of the stove. We got a 64 00:03:05,480 --> 00:03:08,080 Speaker 1: seven stove, we're gonna get three hndre dollars off of 65 00:03:08,080 --> 00:03:10,519 Speaker 1: the federal tax credit, so we're only paying four hundred bucks. 66 00:03:10,600 --> 00:03:12,240 Speaker 1: And for us, man, that's that's money well spent. Yeah, 67 00:03:12,240 --> 00:03:15,400 Speaker 1: wood burning stoves like produce a really luxurious kind of heat. 68 00:03:15,440 --> 00:03:17,600 Speaker 1: I feel like it's a good way to describe it 69 00:03:18,240 --> 00:03:20,840 Speaker 1: instead of you know, that premium heat, and that's the 70 00:03:20,880 --> 00:03:23,360 Speaker 1: way it feels. It kind of like um cuts through everything. 71 00:03:23,440 --> 00:03:26,480 Speaker 1: The heat does, like your your couch feels warm all 72 00:03:26,520 --> 00:03:28,840 Speaker 1: the way through, and so it's like radiating heat to 73 00:03:28,919 --> 00:03:30,959 Speaker 1: you while you're sitting on it. UM. I don't personally 74 00:03:31,000 --> 00:03:33,720 Speaker 1: have one, but yeah, they're awesome, man. So I'm glad 75 00:03:33,720 --> 00:03:36,119 Speaker 1: you're able to get the sweet federal tax credit three 76 00:03:36,160 --> 00:03:37,960 Speaker 1: hundred bucks, dude, cut the price down. We were thinking 77 00:03:38,000 --> 00:03:40,880 Speaker 1: about it anyway, but with that added incentive, I thought, Okay, no, 78 00:03:41,000 --> 00:03:43,160 Speaker 1: this is the perfect time to go for it. And 79 00:03:43,240 --> 00:03:44,600 Speaker 1: the thing is you have to take advantage of that 80 00:03:44,640 --> 00:03:46,800 Speaker 1: before the end of this year, so that tax credit, 81 00:03:46,840 --> 00:03:49,520 Speaker 1: you have to have made the purchase before December thirty one, 82 00:03:49,640 --> 00:03:51,400 Speaker 1: so time is running out. Up at a link to 83 00:03:51,920 --> 00:03:54,440 Speaker 1: more information on that tax credit if others out there 84 00:03:54,480 --> 00:03:57,119 Speaker 1: are interested. Nice, All right, sounds good and real quick 85 00:03:57,120 --> 00:03:58,880 Speaker 1: before we get into the stories we found interesting this 86 00:03:58,920 --> 00:04:00,920 Speaker 1: week to Matt and are planning an end of the 87 00:04:01,000 --> 00:04:03,240 Speaker 1: year episode, and what we want to do inside of 88 00:04:03,240 --> 00:04:06,680 Speaker 1: that episode is to feature your money wins. Where have 89 00:04:06,840 --> 00:04:09,880 Speaker 1: you succeeded when it comes to your personal finances? In 90 00:04:10,880 --> 00:04:14,280 Speaker 1: so similar to our ask htm episodes where you submit 91 00:04:14,400 --> 00:04:17,280 Speaker 1: a voice memo um and then we answer those questions, well, 92 00:04:17,320 --> 00:04:19,920 Speaker 1: we want to hear your voice telling us and telling 93 00:04:19,960 --> 00:04:22,599 Speaker 1: your fellow listeners about your money wins this year. It 94 00:04:22,640 --> 00:04:25,680 Speaker 1: can be as simple as having cut an habitual expense 95 00:04:25,680 --> 00:04:27,760 Speaker 1: that you had every week, or something really huge like 96 00:04:27,800 --> 00:04:30,520 Speaker 1: quitting a stressful job or paying down a massive chunk 97 00:04:30,560 --> 00:04:34,640 Speaker 1: of student loans. And with being such a dumpster fire, 98 00:04:35,000 --> 00:04:37,680 Speaker 1: it's it's gonna be so nice to hear everybody's money 99 00:04:37,720 --> 00:04:40,279 Speaker 1: wins and if you all to celebrate them together, and 100 00:04:40,320 --> 00:04:41,880 Speaker 1: I think that episode is gonna be a lot of fun. 101 00:04:42,080 --> 00:04:45,320 Speaker 1: And also just give everybody out there just some more 102 00:04:45,400 --> 00:04:47,839 Speaker 1: ideas when it comes to saving money. So yeah, please 103 00:04:47,880 --> 00:04:49,880 Speaker 1: send those in just create a voice memo on your 104 00:04:49,880 --> 00:04:51,800 Speaker 1: phone and shoot us an email at how to Money 105 00:04:51,800 --> 00:04:54,240 Speaker 1: pot at gmail dot com and we'll feature those in 106 00:04:54,240 --> 00:04:56,320 Speaker 1: a special episode at the end of the year. Mayah, 107 00:04:56,320 --> 00:04:57,919 Speaker 1: that's rights. And we know we were just talking about 108 00:04:57,920 --> 00:05:00,440 Speaker 1: wood down trees. Let's talk about Christmas trees for a second. 109 00:05:00,680 --> 00:05:04,039 Speaker 1: Christmas tree sales are spiking this year, dude, both the 110 00:05:04,120 --> 00:05:06,320 Speaker 1: real trees out there as well as the artificial ones. 111 00:05:06,880 --> 00:05:08,479 Speaker 1: I feel like this kind of gels with what I've 112 00:05:08,520 --> 00:05:12,320 Speaker 1: heard from different family and neighbors buying trees. But Joel, 113 00:05:12,440 --> 00:05:14,680 Speaker 1: this is kind of like the Boxers or Brief question. 114 00:05:15,560 --> 00:05:17,359 Speaker 1: Where are you laying on this? Are you? Uh? Do 115 00:05:17,400 --> 00:05:19,000 Speaker 1: you do the real tree? You do the artificials. See, 116 00:05:19,000 --> 00:05:20,800 Speaker 1: I'm a both and kind of guy, right, So we 117 00:05:20,920 --> 00:05:24,160 Speaker 1: have not surprisingly you're the box of Brief guy. We uh, 118 00:05:24,279 --> 00:05:26,880 Speaker 1: we have the real Christmas tree inside the house. We 119 00:05:26,920 --> 00:05:29,560 Speaker 1: have an artificial Christmas tree on the front porch that 120 00:05:29,600 --> 00:05:31,000 Speaker 1: we It was like a hand me down tree from 121 00:05:31,000 --> 00:05:33,839 Speaker 1: my parents. So um, yeah, they actually went out to 122 00:05:33,839 --> 00:05:36,479 Speaker 1: get a new tree this year and they said like 123 00:05:36,600 --> 00:05:39,440 Speaker 1: there were very few left. Apparently the stock has been 124 00:05:39,480 --> 00:05:41,880 Speaker 1: picked over. And then I talked to another friend and 125 00:05:41,920 --> 00:05:43,800 Speaker 1: they were going to pick up alive Christmas tree. It 126 00:05:43,839 --> 00:05:46,400 Speaker 1: sounded like the line was out of the parking lot 127 00:05:46,400 --> 00:05:48,240 Speaker 1: and want to pick one up. So, um, I don't know. 128 00:05:48,279 --> 00:05:50,080 Speaker 1: I guess I got lucky going like literally the first 129 00:05:50,160 --> 00:05:53,400 Speaker 1: day that he started selling them. But I'm all about both, man, Like, 130 00:05:53,400 --> 00:05:54,760 Speaker 1: you don't have to have just one. We have. We 131 00:05:54,880 --> 00:05:56,760 Speaker 1: got a bunch of trees in our house. I know 132 00:05:56,839 --> 00:05:59,040 Speaker 1: that you guys have been wanting to get that front 133 00:05:59,040 --> 00:06:00,920 Speaker 1: porch tree going on? Is it was it last year 134 00:06:00,920 --> 00:06:02,080 Speaker 1: that you saw one on the side of the road 135 00:06:02,080 --> 00:06:06,240 Speaker 1: and you picked it up and it was track. It 136 00:06:06,320 --> 00:06:08,960 Speaker 1: was just a piece of junk had snapped in half 137 00:06:09,040 --> 00:06:11,280 Speaker 1: or something and they had taped it and you didn't 138 00:06:11,279 --> 00:06:13,240 Speaker 1: see that right away. So you loaded it up taking home, 139 00:06:13,320 --> 00:06:16,640 Speaker 1: send it up heavy. It was so heavy, and Emily 140 00:06:16,720 --> 00:06:19,320 Speaker 1: was like, no, we can't put this up. She wanted 141 00:06:19,360 --> 00:06:20,600 Speaker 1: me to get it. She told me to go back 142 00:06:20,600 --> 00:06:22,360 Speaker 1: and get it, and I was like, all the time 143 00:06:22,360 --> 00:06:23,880 Speaker 1: you didn't know that it was busted up, and you 144 00:06:23,920 --> 00:06:26,120 Speaker 1: brought it home, you realized that you can't keep it 145 00:06:26,560 --> 00:06:31,440 Speaker 1: exactly exactly. We're on the artificial tree dude for years, 146 00:06:31,520 --> 00:06:34,200 Speaker 1: Kate and I. It is the most money savvy way 147 00:06:34,200 --> 00:06:36,360 Speaker 1: to go, right, dude. Okay, so last year we bought 148 00:06:36,360 --> 00:06:39,040 Speaker 1: the street it was a hundred and fifty bucks with tacks. Uh, 149 00:06:39,160 --> 00:06:40,920 Speaker 1: this is a nine ft tree, so it's huge. Right, 150 00:06:41,440 --> 00:06:44,440 Speaker 1: did you pay for an eight to nine foot tree here? Locally? 151 00:06:44,440 --> 00:06:47,200 Speaker 1: You're paying like ninety bucks for that. And so you 152 00:06:47,240 --> 00:06:48,960 Speaker 1: hang onto the tree once and and use it a 153 00:06:48,960 --> 00:06:50,680 Speaker 1: second year and it more than pays for itself. First 154 00:06:50,680 --> 00:06:52,600 Speaker 1: of all, right, I got a seven eight foot for 155 00:06:52,600 --> 00:06:55,159 Speaker 1: fifty bucks, So that's good, that's not terrible. But but 156 00:06:55,200 --> 00:06:58,680 Speaker 1: even still, like three years of using that artificial tree 157 00:06:58,720 --> 00:07:00,479 Speaker 1: is gonna you know, it's gonna. It's gonna for itself 158 00:07:00,560 --> 00:07:02,719 Speaker 1: at that point. And then for us though, it's dude, 159 00:07:02,760 --> 00:07:05,240 Speaker 1: it's about the convenience. In recent years, when we've gone 160 00:07:05,240 --> 00:07:06,599 Speaker 1: to pick out the tree, we're just going to the 161 00:07:06,600 --> 00:07:09,160 Speaker 1: big hardware store. Like we don't go to you know, 162 00:07:09,320 --> 00:07:11,640 Speaker 1: a lot, We don't go to a farm. If it 163 00:07:11,640 --> 00:07:13,200 Speaker 1: would do if we live in North Carolina and we're 164 00:07:13,240 --> 00:07:15,520 Speaker 1: going to like a Fraser for Christmas tree farm and 165 00:07:15,520 --> 00:07:16,800 Speaker 1: we get to pick it out and cut it and 166 00:07:16,800 --> 00:07:19,280 Speaker 1: do that whole thing. Sure, that's a completely different story though, 167 00:07:19,320 --> 00:07:21,480 Speaker 1: you know, like you're paying for the experience experience, but 168 00:07:21,760 --> 00:07:23,200 Speaker 1: I don't know, living in the city, it's just coming. 169 00:07:23,200 --> 00:07:24,680 Speaker 1: All right, let's go get the tree real quick and 170 00:07:24,800 --> 00:07:26,520 Speaker 1: we kind of just find one real quick, loaded it, 171 00:07:26,520 --> 00:07:29,480 Speaker 1: throw in the van. It's not like this experience, and 172 00:07:29,560 --> 00:07:31,280 Speaker 1: it's just kind of a hassle. And so for us 173 00:07:31,280 --> 00:07:33,520 Speaker 1: man with the kids being able to this year for 174 00:07:33,560 --> 00:07:35,480 Speaker 1: the first time, to pull it out of the attic, 175 00:07:35,560 --> 00:07:38,040 Speaker 1: walk it down the steps, set it up, throw the 176 00:07:38,160 --> 00:07:39,920 Speaker 1: you know, get the lights on there. Oh my gosh, 177 00:07:40,000 --> 00:07:43,720 Speaker 1: it was so nice to not have to worry about 178 00:07:43,720 --> 00:07:46,240 Speaker 1: waiting in line or wrestling with the fact that, you know, 179 00:07:46,280 --> 00:07:47,800 Speaker 1: the place where we put the tree every year is 180 00:07:47,840 --> 00:07:52,000 Speaker 1: directly over a heating vent. There's all these things that 181 00:07:52,040 --> 00:07:54,400 Speaker 1: have been going against us when it comes to real trees. 182 00:07:54,440 --> 00:07:56,480 Speaker 1: But I will say, I'm gonna miss the smell. Yeah, yeah, 183 00:07:56,480 --> 00:07:57,960 Speaker 1: they do. They do smell good. But I don't know. 184 00:07:58,000 --> 00:08:00,080 Speaker 1: You can get some balsam for candles or something, but 185 00:08:00,200 --> 00:08:02,160 Speaker 1: you know, make it feel like that. And we've we've 186 00:08:02,160 --> 00:08:03,840 Speaker 1: also got a bunch of those going too. So they 187 00:08:03,840 --> 00:08:05,320 Speaker 1: said this at All Day as well. Yeah we got 188 00:08:05,360 --> 00:08:09,280 Speaker 1: it from all the well, so yeah, to any of 189 00:08:09,320 --> 00:08:11,840 Speaker 1: our listeners who haven't yet bought of Christmas tree. Good luck, 190 00:08:11,920 --> 00:08:15,280 Speaker 1: because I think the prices are going up on both 191 00:08:15,400 --> 00:08:17,760 Speaker 1: real and artificial trees. So I hope you find something 192 00:08:17,840 --> 00:08:19,400 Speaker 1: awesome to your house. Well, they're saying to a lot 193 00:08:19,400 --> 00:08:21,200 Speaker 1: of folks are doing it for the experience as well, 194 00:08:21,280 --> 00:08:24,040 Speaker 1: just like getting outdoors getting some fresh air. It's a fun, 195 00:08:24,240 --> 00:08:26,760 Speaker 1: safe kind of activity that the family can do given 196 00:08:26,800 --> 00:08:28,840 Speaker 1: the few options we've had this year. Yeah, for sure. 197 00:08:28,960 --> 00:08:31,520 Speaker 1: All right, let's talk about bitcoin for a minute. It's 198 00:08:31,560 --> 00:08:33,240 Speaker 1: something that we actually I don't think I've ever talked 199 00:08:33,240 --> 00:08:36,080 Speaker 1: about bitcoin on the podcast. Just in passing it, I think, yeah, 200 00:08:36,080 --> 00:08:38,680 Speaker 1: just maybe it's like a little uh fodder for jokes, 201 00:08:39,480 --> 00:08:41,280 Speaker 1: But our listeners are probably actually seen a lot of 202 00:08:41,280 --> 00:08:45,800 Speaker 1: headlines recently about how bitcoin is blowing up. It hasn't 203 00:08:45,880 --> 00:08:49,320 Speaker 1: been priced this high since right around three years ago, 204 00:08:49,720 --> 00:08:52,400 Speaker 1: and evidently a big reason that its surged back then 205 00:08:52,559 --> 00:08:54,559 Speaker 1: a few years back was due to folks sitting around 206 00:08:54,559 --> 00:08:57,400 Speaker 1: the table at Thanksgiving explaining to family members how it works, 207 00:08:57,400 --> 00:08:59,679 Speaker 1: and then everyone went home and bought some of it 208 00:08:59,800 --> 00:09:03,760 Speaker 1: them solved. I guess that's a perfect family conversation around, 209 00:09:03,920 --> 00:09:06,360 Speaker 1: you know, on the holidays. Like let's avoid politics I'm 210 00:09:06,360 --> 00:09:08,480 Speaker 1: talking about bitcoin. It's said, why not, And then if 211 00:09:08,520 --> 00:09:10,520 Speaker 1: that was you, the price of bitcoin went up between 212 00:09:10,559 --> 00:09:13,560 Speaker 1: Thanksgiving and Christmas, of seen, but then you ended up 213 00:09:13,559 --> 00:09:15,640 Speaker 1: sitting on a pretty big loss as the price of 214 00:09:15,679 --> 00:09:19,440 Speaker 1: bitcoin has basically cratered since then up until just about 215 00:09:19,480 --> 00:09:22,640 Speaker 1: a month ago. And now Matt, bitcoin is back on 216 00:09:22,679 --> 00:09:25,600 Speaker 1: the rise. Yeah, for a host of different reasons. It's 217 00:09:25,600 --> 00:09:27,199 Speaker 1: it's kind of on the rise again. We won't dive 218 00:09:27,240 --> 00:09:29,080 Speaker 1: into all that, but man, the thing is, neither of 219 00:09:29,160 --> 00:09:31,520 Speaker 1: us own any bitcoin for the same reason that like 220 00:09:31,600 --> 00:09:34,400 Speaker 1: we don't own any gold, right, And that's because it 221 00:09:34,440 --> 00:09:37,840 Speaker 1: isn't an investments. You know, Bitcoin's best case scenario is 222 00:09:37,920 --> 00:09:41,040 Speaker 1: that it is kind of viewed similarly as gold, right, 223 00:09:41,080 --> 00:09:43,800 Speaker 1: and that it's a way to store value, meaning that 224 00:09:44,000 --> 00:09:47,240 Speaker 1: like it's something that holds its value and doesn't depreciate. Right. Um, 225 00:09:47,240 --> 00:09:50,640 Speaker 1: But lately, man, like it's wild price swings show that 226 00:09:50,640 --> 00:09:53,120 Speaker 1: that's not necessarily the case. You know, at the moment, 227 00:09:53,440 --> 00:09:57,120 Speaker 1: it is more speculation than in investing. It's not really 228 00:09:57,120 --> 00:10:00,720 Speaker 1: an investment. It's it's truly a medium for exchange, not 229 00:10:00,800 --> 00:10:02,960 Speaker 1: unlike gold. Yeah, I think that's a that's a lot 230 00:10:03,040 --> 00:10:05,880 Speaker 1: of why people are getting into bitcoin. They're getting excited. 231 00:10:05,920 --> 00:10:08,200 Speaker 1: They see the headlines and then they say, well, I 232 00:10:08,200 --> 00:10:10,360 Speaker 1: want a piece of that. It's fun to be on 233 00:10:10,480 --> 00:10:13,120 Speaker 1: the run up of something that's moving quickly, but that 234 00:10:13,160 --> 00:10:16,000 Speaker 1: of course makes it a speculative investing decision, not a 235 00:10:16,040 --> 00:10:18,679 Speaker 1: solid future investment to hold for a whole lot of years. 236 00:10:18,840 --> 00:10:22,160 Speaker 1: So we would suggest instead ignoring the headlines for now 237 00:10:22,200 --> 00:10:26,040 Speaker 1: and invest in widely diversified index funds, maybe some real estate. 238 00:10:26,440 --> 00:10:28,920 Speaker 1: Don't let fomo, your fear of missing out get the 239 00:10:28,920 --> 00:10:31,720 Speaker 1: best of you to where you're dropping your maybe your 240 00:10:31,840 --> 00:10:35,480 Speaker 1: end bonus on like some cryptocurrency investing. Do you want 241 00:10:35,480 --> 00:10:38,240 Speaker 1: to dabble just a little bit, Well, Matt and I 242 00:10:38,240 --> 00:10:40,440 Speaker 1: would be okay with that if you follow this rule, 243 00:10:40,679 --> 00:10:43,160 Speaker 1: no more than one percent of your portfolio should be 244 00:10:43,240 --> 00:10:47,680 Speaker 1: used for speculative purposes. In a particular, Bitcoin is incredibly speculative, 245 00:10:47,840 --> 00:10:50,280 Speaker 1: So don't put enough of your money at risk investing 246 00:10:50,280 --> 00:10:52,840 Speaker 1: in bitcoin where it would cause you to lose sleep 247 00:10:52,880 --> 00:10:55,760 Speaker 1: at night if the price came crashing back down. Yeah, 248 00:10:55,960 --> 00:10:58,680 Speaker 1: and it is possible to actually make some money, you know, 249 00:10:58,720 --> 00:11:00,240 Speaker 1: if you're if you're gonna buy a bit in right, 250 00:11:00,240 --> 00:11:02,320 Speaker 1: We're not saying that that is you know, not going 251 00:11:02,360 --> 00:11:04,880 Speaker 1: to happen. Yeah, it's not that you can't invest him 252 00:11:04,880 --> 00:11:07,280 Speaker 1: of your money and do well, you know there's a 253 00:11:07,360 --> 00:11:09,280 Speaker 1: change you will. Actually had a buddy text me the 254 00:11:09,280 --> 00:11:11,880 Speaker 1: other day and he said, I know you advise against 255 00:11:11,880 --> 00:11:15,400 Speaker 1: single stock investing, but I bought Teslagist over a year ago. 256 00:11:15,480 --> 00:11:17,240 Speaker 1: I put in like four grand and now I'm at 257 00:11:17,240 --> 00:11:19,120 Speaker 1: like twenty eight grand, And I was like, good for him, 258 00:11:19,200 --> 00:11:21,400 Speaker 1: way to go, dude. It's not that some people don't 259 00:11:21,400 --> 00:11:23,720 Speaker 1: make money. And granted he hasn't made money yet until 260 00:11:23,760 --> 00:11:26,600 Speaker 1: he sells and decides that he's going to cash out. 261 00:11:26,840 --> 00:11:30,160 Speaker 1: And that's always the difficult part about investing in something 262 00:11:30,200 --> 00:11:32,880 Speaker 1: speculative or investing in a single stock. It's like or 263 00:11:32,920 --> 00:11:34,760 Speaker 1: investing in the short term, right, like when when am 264 00:11:34,760 --> 00:11:36,920 Speaker 1: I going to take my cash off the table? Yeah? Exactly. 265 00:11:37,120 --> 00:11:39,640 Speaker 1: And that's the thing too, like even stock investing, there's 266 00:11:39,640 --> 00:11:41,640 Speaker 1: no guarantee, right, Like you need telling me see you here, 267 00:11:41,720 --> 00:11:44,720 Speaker 1: any advertisement or see anything. Like they always say that 268 00:11:44,840 --> 00:11:47,800 Speaker 1: past performance doesn't is not a promise or indicator of 269 00:11:47,840 --> 00:11:50,920 Speaker 1: future results. Right, there's always that disclaimer because even with 270 00:11:50,920 --> 00:11:53,800 Speaker 1: the stock market, there's no guarantee that it's going to 271 00:11:53,840 --> 00:11:56,600 Speaker 1: continue to go up, but at least with the stock market, right, 272 00:11:56,600 --> 00:11:58,720 Speaker 1: Like we've seen like over a hundred years worth of 273 00:11:58,760 --> 00:12:02,480 Speaker 1: stock market data, and we've seen on average, uh, the 274 00:12:02,520 --> 00:12:06,480 Speaker 1: stock market go up ten percent every single year versus uh, 275 00:12:06,640 --> 00:12:09,240 Speaker 1: Bitcoin it's only even been around for ten years, right, 276 00:12:09,280 --> 00:12:12,720 Speaker 1: and so it's hard to gauge how steady of the 277 00:12:12,800 --> 00:12:15,480 Speaker 1: type of performance that you're gonna see out of something 278 00:12:15,520 --> 00:12:17,680 Speaker 1: like bitcoin. And so down the road we might change 279 00:12:17,679 --> 00:12:19,800 Speaker 1: our tune. Right as there have been more and more 280 00:12:19,880 --> 00:12:22,520 Speaker 1: years of growth, and as we've been able to track 281 00:12:22,600 --> 00:12:24,520 Speaker 1: the performance of bitcoin, it's like maybe, like this the 282 00:12:24,520 --> 00:12:26,880 Speaker 1: stock market was back in the early days, it's like, oh, 283 00:12:27,000 --> 00:12:29,760 Speaker 1: not too sure, Like how's this actually gonna pan out? 284 00:12:29,760 --> 00:12:31,720 Speaker 1: How's this going to perform? But because we've had so 285 00:12:31,800 --> 00:12:33,360 Speaker 1: much time in so many years that we can look 286 00:12:33,400 --> 00:12:36,600 Speaker 1: back to in reference, that gives me much more confidence 287 00:12:36,600 --> 00:12:39,200 Speaker 1: when it comes to investing in the stock market, especially 288 00:12:39,200 --> 00:12:41,160 Speaker 1: as stock market as a whole or smaller indexes like 289 00:12:41,200 --> 00:12:44,920 Speaker 1: the SMP hundred as compared to cryptocurrency. Yeah, so if 290 00:12:44,920 --> 00:12:48,520 Speaker 1: you've got bitcoin headline fatigue, um, so do we, and 291 00:12:48,520 --> 00:12:51,439 Speaker 1: and maybe just just don't invest according to the headlines. 292 00:12:51,480 --> 00:12:53,800 Speaker 1: That's always a bad way to go right, um And 293 00:12:53,800 --> 00:12:56,200 Speaker 1: and Matt, speaking of fatigue, I've been seeing some stories 294 00:12:56,240 --> 00:13:00,280 Speaker 1: about pandemic fatigue. Um, oh, you're tired of it. I'm 295 00:13:00,320 --> 00:13:02,800 Speaker 1: definitely tired of it, Okay. I think we all are 296 00:13:02,880 --> 00:13:05,760 Speaker 1: to a certain degree, and I think it's influencing our behaviors. 297 00:13:05,760 --> 00:13:09,960 Speaker 1: It's it's influencing how people are acting and what we're buying. Um, 298 00:13:10,000 --> 00:13:13,640 Speaker 1: including people are really tired of cooking at home right now, 299 00:13:14,080 --> 00:13:16,720 Speaker 1: especially right if you cooked a big Thanksgiving meal last week, 300 00:13:17,000 --> 00:13:19,400 Speaker 1: that makes sense, maybe that was a big endeavor. But 301 00:13:19,520 --> 00:13:22,640 Speaker 1: this fatigue is particularly leading people to get take out 302 00:13:22,640 --> 00:13:24,920 Speaker 1: more frequently. Um And by the way, we're all about 303 00:13:25,000 --> 00:13:27,120 Speaker 1: supporting local restaurants when you can at this time and 304 00:13:27,120 --> 00:13:29,280 Speaker 1: if it fits into your budget. But at the same time, 305 00:13:29,320 --> 00:13:31,560 Speaker 1: I think the even worst thing is just leading people 306 00:13:31,559 --> 00:13:34,000 Speaker 1: to buy more processed and packaged foods when they do 307 00:13:34,080 --> 00:13:36,920 Speaker 1: go to the grocery store. So, yeah, frozen pizzas, chicken 308 00:13:36,920 --> 00:13:39,920 Speaker 1: wings in a bag, that kind of stuff that's terrible 309 00:13:39,920 --> 00:13:41,720 Speaker 1: for you. It makes me think of in college, I 310 00:13:41,760 --> 00:13:44,439 Speaker 1: used to buy this shredded barbecue that came in a 311 00:13:44,440 --> 00:13:47,880 Speaker 1: little tub. I think it's called Lloyd's. Okay, And there's 312 00:13:47,880 --> 00:13:51,800 Speaker 1: no way that that was good for me. Yeah. So yeah, 313 00:13:51,840 --> 00:13:55,440 Speaker 1: the these process foods, yeah, they're they're almost always worse 314 00:13:55,440 --> 00:13:58,040 Speaker 1: for you from a health standpoint, and too they cost 315 00:13:58,080 --> 00:14:00,600 Speaker 1: more money. They're not great from you from a budget 316 00:14:00,640 --> 00:14:03,760 Speaker 1: standpoint either. So I know we're all going through some 317 00:14:03,920 --> 00:14:06,960 Speaker 1: pandemic fatigue, but if you have found yourself reaching for 318 00:14:06,960 --> 00:14:11,320 Speaker 1: those prepackaged items that are really unhealthy more recently, best 319 00:14:11,320 --> 00:14:13,720 Speaker 1: to stay away, yeah, man. Yeah, for your health, stick 320 00:14:13,760 --> 00:14:15,800 Speaker 1: to the fresh foods whenever possible, and for your budget, 321 00:14:16,400 --> 00:14:18,319 Speaker 1: make it a point to try to do more cooking 322 00:14:18,360 --> 00:14:20,720 Speaker 1: at home, even if you are kind of getting tired 323 00:14:20,760 --> 00:14:22,320 Speaker 1: of it, think through trying to find some ways to 324 00:14:22,360 --> 00:14:24,600 Speaker 1: spice it up. We'd recommend for you to check out 325 00:14:24,880 --> 00:14:27,520 Speaker 1: budget bites dot com and see how low you can 326 00:14:27,520 --> 00:14:30,160 Speaker 1: get the price per serving. And by the way, that's 327 00:14:30,280 --> 00:14:32,880 Speaker 1: bites with a Y B Y Y. Yeah. Yeah. We 328 00:14:32,880 --> 00:14:36,080 Speaker 1: we interviewed Beth on the podcast when was that earlier 329 00:14:36,120 --> 00:14:38,200 Speaker 1: this year? She was awesome. Yeah, yeah, we can link 330 00:14:38,240 --> 00:14:40,560 Speaker 1: to that episode in our show notes. But yeah, referring 331 00:14:40,560 --> 00:14:42,320 Speaker 1: back to her site, Man, that could be one way 332 00:14:42,320 --> 00:14:44,640 Speaker 1: to try out some new dishes while you know, challenging 333 00:14:44,680 --> 00:14:47,920 Speaker 1: yourself to eat in uh and eat healthier and at 334 00:14:47,920 --> 00:14:49,720 Speaker 1: the same time save more money while you're doing it, 335 00:14:49,960 --> 00:14:52,880 Speaker 1: no doubt. Matt also saw that the the US Federal 336 00:14:52,880 --> 00:14:57,080 Speaker 1: Communication Commission um has ce CEC, yeah, has announced that 337 00:14:57,160 --> 00:14:59,440 Speaker 1: you still can't talk on the phone on a plane 338 00:14:59,480 --> 00:15:01,920 Speaker 1: in the United States. And even though like right, like, 339 00:15:02,000 --> 00:15:04,360 Speaker 1: I think it's not a safety issue. No, it's not 340 00:15:04,400 --> 00:15:07,240 Speaker 1: about the technology. Yeah, it's like we can safely talk 341 00:15:07,400 --> 00:15:09,400 Speaker 1: on phones in the air and it's not going to 342 00:15:09,480 --> 00:15:12,400 Speaker 1: adversely affect airplanes. But you know what, I'm so glad 343 00:15:12,400 --> 00:15:15,000 Speaker 1: they did it because I just can't imagine sitting next 344 00:15:15,000 --> 00:15:18,120 Speaker 1: to someone with, you know, an hour long conversation on 345 00:15:18,160 --> 00:15:21,080 Speaker 1: a flight. How annoying would that be? Uh? So, Yeah, 346 00:15:21,160 --> 00:15:23,960 Speaker 1: I'm down with the FCCS ruling, even if it's safe 347 00:15:23,960 --> 00:15:26,040 Speaker 1: to actually call somebody on a flight. Yeah, man, I 348 00:15:26,040 --> 00:15:27,840 Speaker 1: mean the thought of being, you know, stuck on a 349 00:15:27,880 --> 00:15:30,720 Speaker 1: plane next to somebody where they're just gammering on for 350 00:15:30,720 --> 00:15:33,720 Speaker 1: for hours on end. That sounds terrible, Like being a 351 00:15:33,760 --> 00:15:36,000 Speaker 1: captive audience like that, because that's the thing. You can't 352 00:15:36,000 --> 00:15:38,360 Speaker 1: get up and go somewhere else. You gotta stay in 353 00:15:38,360 --> 00:15:41,760 Speaker 1: your seat, fifteen people all around giving another or to 354 00:15:41,840 --> 00:15:44,080 Speaker 1: their boss or whoever it is. And it's like just 355 00:15:44,440 --> 00:15:46,880 Speaker 1: the noise level in an airplane could just get it's 356 00:15:46,880 --> 00:15:49,200 Speaker 1: already high. But yeah, it sounds like it would be worse, 357 00:15:49,920 --> 00:15:51,720 Speaker 1: drastically worse. I think. Yeah, Well, maybe what's at the 358 00:15:51,720 --> 00:15:54,040 Speaker 1: crux of the issue here, dude, is consideration. Because I 359 00:15:54,080 --> 00:15:56,640 Speaker 1: saw that in Europe it is allowed, and so it 360 00:15:56,640 --> 00:15:58,920 Speaker 1: makes me wonder that here in the States, just are 361 00:15:58,960 --> 00:16:02,160 Speaker 1: we not as considerate to others? You know, because it 362 00:16:02,200 --> 00:16:04,280 Speaker 1: makes me wonder, like, Okay, well, folks in Europe they're 363 00:16:04,320 --> 00:16:06,240 Speaker 1: able to fly around and there, you know, they talk 364 00:16:06,280 --> 00:16:08,320 Speaker 1: on the phone and it's not a problem. So I 365 00:16:08,320 --> 00:16:11,000 Speaker 1: don't know, maybe Europeans are a little bit more considerate 366 00:16:11,320 --> 00:16:14,160 Speaker 1: of their fellow passengers. That's why we can't have nice 367 00:16:14,160 --> 00:16:16,880 Speaker 1: things here in the US, buddy, Yes, not all right. 368 00:16:16,920 --> 00:16:18,800 Speaker 1: We got more to get to, Matt, including what people 369 00:16:18,840 --> 00:16:20,440 Speaker 1: should do with their f s a money if they 370 00:16:20,480 --> 00:16:23,120 Speaker 1: haven't spent it yet, and a new study about the 371 00:16:23,160 --> 00:16:26,560 Speaker 1: depreciation of cars. We'll get to some of those stories 372 00:16:26,680 --> 00:16:37,920 Speaker 1: and more right after this break. Al Right, buddy, we 373 00:16:37,960 --> 00:16:39,960 Speaker 1: are back for the break and listen the stories. The 374 00:16:40,000 --> 00:16:42,960 Speaker 1: other stories that we wanted to cover today. We saw 375 00:16:43,000 --> 00:16:44,920 Speaker 1: that The Visual Capitalist, which by the way, is an 376 00:16:44,960 --> 00:16:48,120 Speaker 1: awesome blog. They recently released an interesting article on some 377 00:16:48,160 --> 00:16:51,040 Speaker 1: different trends that have been occurring during the pandemic. Uh. 378 00:16:51,080 --> 00:16:53,480 Speaker 1: I mean, it's just really interesting to see the visuals 379 00:16:53,600 --> 00:16:55,480 Speaker 1: of some of the changes that we know have been 380 00:16:55,480 --> 00:17:00,280 Speaker 1: happening around us since COVID has basically changed everything. Right, 381 00:17:00,840 --> 00:17:04,800 Speaker 1: A couple of the most severe trends include a massive 382 00:17:04,920 --> 00:17:08,320 Speaker 1: rise in screen time understandably right makes sense, virtual school 383 00:17:08,359 --> 00:17:10,240 Speaker 1: and just you know, a virtual work all that stuff. 384 00:17:10,320 --> 00:17:12,960 Speaker 1: Via the rapid rise of e commerce. That's something that 385 00:17:13,040 --> 00:17:16,119 Speaker 1: has been happening, but obviously with our inability or hesitancy, 386 00:17:16,160 --> 00:17:18,240 Speaker 1: you know, to go in store to to do shopping, 387 00:17:18,440 --> 00:17:20,680 Speaker 1: we're you know, we're looking to to shop more online. Yeah. 388 00:17:20,680 --> 00:17:24,320 Speaker 1: The amount of change was just stunning. And the prediction 389 00:17:24,400 --> 00:17:27,040 Speaker 1: for the future amount that will of online shopping that 390 00:17:27,080 --> 00:17:29,600 Speaker 1: will do the trajectory has just completely changed because of 391 00:17:29,640 --> 00:17:33,359 Speaker 1: the pandemic. Yeah. Yeah, and alstitude. They noted the change 392 00:17:33,480 --> 00:17:35,919 Speaker 1: in company mindset towards you know, working at home. You know, 393 00:17:36,080 --> 00:17:39,040 Speaker 1: many companies who were solidly against working from home were 394 00:17:39,040 --> 00:17:42,359 Speaker 1: forced into it due to the pandemic, but percent of 395 00:17:42,359 --> 00:17:44,399 Speaker 1: employees want to be able to continue to work at 396 00:17:44,440 --> 00:17:49,520 Speaker 1: home at least in some capacity moving forward, I know, right, Uh, 397 00:17:49,600 --> 00:17:52,440 Speaker 1: And most employers are down with that. And so it's 398 00:17:52,480 --> 00:17:57,480 Speaker 1: interesting to see, man, just how much our world has changed. Uh. 399 00:17:57,480 --> 00:17:59,479 Speaker 1: It's something that I think we knew was happening at 400 00:17:59,480 --> 00:18:01,240 Speaker 1: the beginning of the year, Like we realized that, like, wow, 401 00:18:01,280 --> 00:18:03,800 Speaker 1: this is the first modern pandemic. This isn't something that 402 00:18:03,840 --> 00:18:05,920 Speaker 1: any of us have really lived through. Uh, And it's 403 00:18:06,000 --> 00:18:08,440 Speaker 1: kind of crazy to see how these changes actually are 404 00:18:08,520 --> 00:18:11,200 Speaker 1: taking place. Yeah. And I love the Visual Capitalists in 405 00:18:11,240 --> 00:18:14,159 Speaker 1: particularly because the graphs and the way they draw it 406 00:18:14,320 --> 00:18:17,480 Speaker 1: their infographic Yeah, the instagraph is like it's they're so impressive, 407 00:18:17,480 --> 00:18:19,720 Speaker 1: and they really helped drive home the points that they're making. 408 00:18:20,119 --> 00:18:21,919 Speaker 1: One of the other fascinating stats in that piece was 409 00:18:21,960 --> 00:18:24,320 Speaker 1: more that more than half of Americans are happy to 410 00:18:24,359 --> 00:18:26,600 Speaker 1: pay more money for an item if it means not 411 00:18:26,680 --> 00:18:28,760 Speaker 1: having to interact with the retail clerk. It's like we're 412 00:18:28,800 --> 00:18:31,360 Speaker 1: prioritizing our health more than we are our dollars, which 413 00:18:31,359 --> 00:18:34,000 Speaker 1: is understandable. Um. And so yeah, it's not because you 414 00:18:34,000 --> 00:18:37,520 Speaker 1: think the retail clerk is mean or you know, or 415 00:18:37,520 --> 00:18:40,040 Speaker 1: anything like that. It really truly is you know, more 416 00:18:40,040 --> 00:18:43,560 Speaker 1: of a prioritization. I think of curbside pickup or home 417 00:18:43,600 --> 00:18:45,960 Speaker 1: delivery because you're being cautious about your health. Dude. I 418 00:18:45,960 --> 00:18:47,560 Speaker 1: also feel like it has something to do with the 419 00:18:47,600 --> 00:18:50,520 Speaker 1: fact that millennials are spending more money to right, Like, 420 00:18:50,600 --> 00:18:52,720 Speaker 1: I feel like that's a way where it might be 421 00:18:52,720 --> 00:18:55,080 Speaker 1: costing millennials a little bit more. Like we're a generation 422 00:18:55,240 --> 00:18:58,119 Speaker 1: that are digital natives, and so the ability to communicate 423 00:18:58,240 --> 00:19:02,600 Speaker 1: via text messages, online chat like I would personally rather 424 00:19:02,680 --> 00:19:04,000 Speaker 1: do that a lot of times, and we have to 425 00:19:04,040 --> 00:19:05,960 Speaker 1: talk with somebody in person, you know, and face to 426 00:19:06,000 --> 00:19:08,640 Speaker 1: face communication in particular now, like you said, like when 427 00:19:08,680 --> 00:19:11,560 Speaker 1: you are wearing a mask, Like the aspects of talking 428 00:19:11,560 --> 00:19:14,439 Speaker 1: to somebody in person aren't funny anymore, you know, Like 429 00:19:14,440 --> 00:19:16,439 Speaker 1: like there's so much that's lost when it comes to 430 00:19:16,920 --> 00:19:19,040 Speaker 1: the visual cues and the different things that you pick 431 00:19:19,080 --> 00:19:20,800 Speaker 1: up on when you're talking with somebody in person, the 432 00:19:20,840 --> 00:19:23,560 Speaker 1: way you can connect with someone. It's so much harder, exactly, 433 00:19:23,600 --> 00:19:26,160 Speaker 1: and so on top of that, you take a generation, uh, 434 00:19:26,200 --> 00:19:27,960 Speaker 1: and it's like, well we didn't I didn't really care. 435 00:19:28,040 --> 00:19:30,320 Speaker 1: I mean, I like talking to you, like talking to 436 00:19:30,359 --> 00:19:32,359 Speaker 1: my friends, but if I have an option to just 437 00:19:32,400 --> 00:19:35,160 Speaker 1: click something that sounds really nice, you know. And so 438 00:19:35,440 --> 00:19:38,400 Speaker 1: the ability to do that more and more make purchases 439 00:19:38,440 --> 00:19:41,480 Speaker 1: online paying more for that I think is a result 440 00:19:41,520 --> 00:19:43,880 Speaker 1: of that, even if the prices are a little bit higher. Yeah, 441 00:19:44,080 --> 00:19:45,600 Speaker 1: all right, let's me want to the next story, Matt. 442 00:19:45,800 --> 00:19:48,320 Speaker 1: This one's about card appreciation. And there was a new 443 00:19:48,440 --> 00:19:51,080 Speaker 1: study that was released by I see cars dot com 444 00:19:51,400 --> 00:19:53,840 Speaker 1: that ranked the types of vehicles out there that hold 445 00:19:53,840 --> 00:19:55,840 Speaker 1: their value the best and the ones that don't hold 446 00:19:55,880 --> 00:19:59,440 Speaker 1: their value very well. Surprisingly, a couple of Jeep Wranglers 447 00:19:59,440 --> 00:20:02,040 Speaker 1: and a couple of Toyota pickup trucks to appreciate the least, 448 00:20:02,240 --> 00:20:04,480 Speaker 1: and they took four of the top five spots. If 449 00:20:04,480 --> 00:20:06,159 Speaker 1: you think about it, I guess this kind of makes sense, right, 450 00:20:06,200 --> 00:20:09,239 Speaker 1: As the design of Wranglers and Toyota trucks are are 451 00:20:09,240 --> 00:20:11,520 Speaker 1: pretty classic, they don't really change that much year to year. 452 00:20:11,680 --> 00:20:13,919 Speaker 1: So folks are willing to pay top dollar for a 453 00:20:13,920 --> 00:20:16,080 Speaker 1: five year old Jeep because they still look kind of 454 00:20:16,080 --> 00:20:18,320 Speaker 1: like the new models. Yeah. You see just the icon 455 00:20:18,400 --> 00:20:20,040 Speaker 1: of the Jeep Wrangler and it's like, oh yeah, that's 456 00:20:20,040 --> 00:20:23,280 Speaker 1: that's kind of what it looks like forty years ago. Yeah, yeah, right, dude. 457 00:20:23,280 --> 00:20:26,080 Speaker 1: On the chart of vehicles that depreciate the most, Dude, 458 00:20:26,080 --> 00:20:29,040 Speaker 1: it is all fancy luxury cars like a Maserati, A 459 00:20:29,040 --> 00:20:30,760 Speaker 1: couple of Mercedes were on there, and a ton of 460 00:20:30,800 --> 00:20:33,440 Speaker 1: BMW's were on that list. So whereas the Jeep Wrangler 461 00:20:33,560 --> 00:20:37,680 Speaker 1: Limited only depreciated thirty percent over its first five years, 462 00:20:37,920 --> 00:20:41,960 Speaker 1: BMW seven series drops over seventy percent and value, Dude, 463 00:20:41,960 --> 00:20:44,800 Speaker 1: that is so crazy. That is insane. And so I 464 00:20:44,800 --> 00:20:46,879 Speaker 1: guess if you're in the market for a luxury today 465 00:20:46,920 --> 00:20:49,840 Speaker 1: and then you know, buying used is definitely the way 466 00:20:49,840 --> 00:20:52,199 Speaker 1: to go. But even still, you know, they point to 467 00:20:52,200 --> 00:20:56,040 Speaker 1: the fact that the Jeep Wrangler it only depreciates, even that, 468 00:20:56,080 --> 00:20:57,560 Speaker 1: in my mind, is kind of crazy. It's a lot 469 00:20:57,640 --> 00:20:59,600 Speaker 1: like that is a lot of like thirty percent over 470 00:20:59,600 --> 00:21:02,919 Speaker 1: five year and the average, the overall averages fift Like 471 00:21:02,960 --> 00:21:05,400 Speaker 1: that's the average car deppreciation in the first five years 472 00:21:05,440 --> 00:21:07,960 Speaker 1: is fifty percent. So you're looking at ten percent every 473 00:21:07,960 --> 00:21:10,680 Speaker 1: single year. And we were just talking about the stock market, 474 00:21:10,760 --> 00:21:12,960 Speaker 1: right and how you know the average return every single 475 00:21:13,040 --> 00:21:15,480 Speaker 1: year is ten percent. So literally, buying a car new 476 00:21:16,200 --> 00:21:18,440 Speaker 1: like you're basically doing the I mean, the complete opposite 477 00:21:18,440 --> 00:21:20,320 Speaker 1: of investing your money. Instead of seeing your money grow 478 00:21:20,359 --> 00:21:22,680 Speaker 1: at ten percent every year, you're literally watching that amount 479 00:21:22,680 --> 00:21:25,280 Speaker 1: of money go down by ten percent every single year. 480 00:21:25,680 --> 00:21:27,960 Speaker 1: And that's not to say that you know you should 481 00:21:28,080 --> 00:21:30,120 Speaker 1: never buy a car, but at the same time, it's 482 00:21:30,160 --> 00:21:32,199 Speaker 1: just so important to be aware of that. Yeah, you 483 00:21:32,240 --> 00:21:34,560 Speaker 1: have to know the numbers. You have to realize how 484 00:21:34,600 --> 00:21:36,960 Speaker 1: big of a deal depreciation is. It's actually the number 485 00:21:37,000 --> 00:21:40,639 Speaker 1: one cost of car ownership. People maybe obsess over gas mileage, 486 00:21:40,760 --> 00:21:43,240 Speaker 1: a few more miles to the gain exactly, or something 487 00:21:43,280 --> 00:21:44,879 Speaker 1: like that, but what they should be looking at is 488 00:21:44,880 --> 00:21:48,640 Speaker 1: specifically how much depreciation am I likely to to see 489 00:21:48,880 --> 00:21:52,280 Speaker 1: from buying this car on the BNW seven series. Maybe 490 00:21:52,280 --> 00:21:54,520 Speaker 1: that's where the seven comes from, because they're like, but 491 00:21:54,600 --> 00:21:57,440 Speaker 1: the higher this series, the more to depreciations. So five 492 00:21:57,480 --> 00:22:02,040 Speaker 1: series only fifty pretty costly and instantly enough. The Nissan Leaf, 493 00:22:02,119 --> 00:22:04,000 Speaker 1: which is a car that I owned for six and 494 00:22:04,040 --> 00:22:06,639 Speaker 1: a half years and just recently departed with, was on 495 00:22:06,680 --> 00:22:09,479 Speaker 1: the list of cars with highest appreciation. That makes sense, right, 496 00:22:09,560 --> 00:22:13,560 Speaker 1: The the older EV models UM are depreciating more rapidly 497 00:22:13,840 --> 00:22:16,800 Speaker 1: UM in large part because of the increases in technology. 498 00:22:17,119 --> 00:22:18,919 Speaker 1: I knew what I was getting into when I did 499 00:22:18,960 --> 00:22:20,720 Speaker 1: that and part of the reason that I bought that 500 00:22:20,760 --> 00:22:24,120 Speaker 1: car was because of federal and state tax incentives, which 501 00:22:24,160 --> 00:22:26,120 Speaker 1: essentially cut the price in that car in half. Yeah, 502 00:22:26,160 --> 00:22:28,560 Speaker 1: not unlike my wood stove, Yeah exactly. And so yeah, 503 00:22:28,560 --> 00:22:30,399 Speaker 1: if you bought a Nissan Leaf like me, if you 504 00:22:30,440 --> 00:22:32,640 Speaker 1: were one of the few people that that actually bought 505 00:22:32,640 --> 00:22:34,879 Speaker 1: one back then then you might have taken a big 506 00:22:35,000 --> 00:22:37,480 Speaker 1: hit too, But in all likelihood, it wasn't that bad 507 00:22:37,520 --> 00:22:39,400 Speaker 1: of a hit because of the tax incentives that went 508 00:22:39,400 --> 00:22:41,920 Speaker 1: along with that purchase, right. Yeah. And also, man, since 509 00:22:41,960 --> 00:22:43,640 Speaker 1: we're had of money, we've got to mention the most 510 00:22:43,680 --> 00:22:46,639 Speaker 1: affordable cars out there that hold their value the best, uh, 511 00:22:46,640 --> 00:22:49,800 Speaker 1: And that is the Honda Fit, the Honda Civic, Toyota Corolla, 512 00:22:49,880 --> 00:22:52,160 Speaker 1: and the Kia Soul. All four of those cars were 513 00:22:52,160 --> 00:22:54,600 Speaker 1: at the top of the heat. Man. I love those cars. 514 00:22:55,160 --> 00:22:57,400 Speaker 1: You know. Not only are they affordable and they hold 515 00:22:57,400 --> 00:23:00,119 Speaker 1: their value well, but they're also just crazy reliable, have 516 00:23:00,280 --> 00:23:03,360 Speaker 1: low overall cost of ownership in large part, like you mentioned, 517 00:23:03,440 --> 00:23:07,760 Speaker 1: because of the depreciation is so low. Uh. And now too, 518 00:23:07,760 --> 00:23:09,000 Speaker 1: now that you sold your niss On and you and 519 00:23:09,000 --> 00:23:11,280 Speaker 1: I are both uh, the only car that you guys have, 520 00:23:11,320 --> 00:23:13,560 Speaker 1: the only car that we have is a Honda, and 521 00:23:13,600 --> 00:23:16,240 Speaker 1: so a little hat sits all the Honda owners out there, 522 00:23:16,760 --> 00:23:20,520 Speaker 1: Toyota in Kia as well. I guess that they did well. Yeah, um, 523 00:23:20,560 --> 00:23:23,160 Speaker 1: all right, man, let's move on. I was reminded recently 524 00:23:23,560 --> 00:23:26,880 Speaker 1: that people need to be really thinking about their FSA money. 525 00:23:26,880 --> 00:23:28,959 Speaker 1: They're flexible spending account money, and they need to use 526 00:23:28,960 --> 00:23:31,159 Speaker 1: it wisely. At the end of the year, some of 527 00:23:31,200 --> 00:23:33,680 Speaker 1: our listeners might have hundreds or even thousands of dollars 528 00:23:33,800 --> 00:23:36,840 Speaker 1: left over in their f s A that they haven't used. 529 00:23:37,119 --> 00:23:39,840 Speaker 1: And while many companies will allow you to roll over 530 00:23:39,920 --> 00:23:42,879 Speaker 1: up to five dollars into next year, make sure you 531 00:23:42,920 --> 00:23:45,480 Speaker 1: don't completely lose some of it by not using it 532 00:23:45,520 --> 00:23:47,680 Speaker 1: at all. And that's always been the worst part about 533 00:23:47,880 --> 00:23:51,000 Speaker 1: f s A s is that you allocate money um 534 00:23:51,040 --> 00:23:54,040 Speaker 1: hoping that you will spend it all in the upcoming year, 535 00:23:54,200 --> 00:23:56,160 Speaker 1: and then if you don't, you actually lose it when 536 00:23:56,160 --> 00:23:58,239 Speaker 1: you roll over to the next year. FSAs are a 537 00:23:58,240 --> 00:24:00,879 Speaker 1: way to avoid tax on some of your health care spending, 538 00:24:00,960 --> 00:24:02,280 Speaker 1: and we think it's a great vehicle, but you have 539 00:24:02,320 --> 00:24:03,919 Speaker 1: to be kind of cautious in how you approach it. 540 00:24:04,119 --> 00:24:06,480 Speaker 1: And so for folks out there who have money left 541 00:24:06,520 --> 00:24:08,840 Speaker 1: over in their FSA that they haven't spent this year. 542 00:24:09,200 --> 00:24:10,480 Speaker 1: Make sure to go check and see how much you 543 00:24:10,480 --> 00:24:12,560 Speaker 1: have left in there um and use it up so 544 00:24:12,600 --> 00:24:14,480 Speaker 1: you don't lose it. And one of the reasons too, 545 00:24:14,520 --> 00:24:17,200 Speaker 1: that the CDC points to that there is so much 546 00:24:17,240 --> 00:24:19,560 Speaker 1: money in a lot of individuals f s A s 547 00:24:20,040 --> 00:24:22,879 Speaker 1: is because a third of adults have skipped out on 548 00:24:23,000 --> 00:24:26,000 Speaker 1: routine checkups and whatnot because of COVID. Yet again, one 549 00:24:26,040 --> 00:24:28,640 Speaker 1: of the ways that COVID has changed our lives this year. 550 00:24:28,840 --> 00:24:31,159 Speaker 1: You've got an fess a, don't you. You You got 551 00:24:31,320 --> 00:24:32,800 Speaker 1: a heap of money kind of sitting there that you're 552 00:24:32,800 --> 00:24:34,760 Speaker 1: gonna spend on band aids Now, I got a little 553 00:24:34,760 --> 00:24:35,960 Speaker 1: bit left in there, but I'll make sure it all 554 00:24:35,960 --> 00:24:37,800 Speaker 1: gets well, that's the thing. So you can spend it. 555 00:24:38,080 --> 00:24:39,720 Speaker 1: You can spend that money on a lot of different things, right. 556 00:24:39,720 --> 00:24:42,960 Speaker 1: You can spend it on over the counter meds, thermometers, sunscreen, 557 00:24:43,160 --> 00:24:49,000 Speaker 1: eyeglasses and contacts, even hearing aids. Um. I think it's 558 00:24:49,040 --> 00:24:53,280 Speaker 1: such a nerd, I almost repeated myself. I think previously 559 00:24:53,320 --> 00:24:57,560 Speaker 1: two we mentioned how menstrual products are also now qualify 560 00:24:57,680 --> 00:25:00,200 Speaker 1: as f s A eligible, So you know, the are 561 00:25:00,200 --> 00:25:02,240 Speaker 1: all things that you can stock up on in order 562 00:25:02,280 --> 00:25:03,919 Speaker 1: to to make sure that your f s A. Money 563 00:25:04,040 --> 00:25:06,679 Speaker 1: doesn't go down the drain. Yeah, for sure, Matt, all Right. 564 00:25:06,880 --> 00:25:08,719 Speaker 1: The last thing I wanted to mention on this episode 565 00:25:08,720 --> 00:25:11,720 Speaker 1: I wanted us to talk about was the former CEO 566 00:25:11,920 --> 00:25:15,440 Speaker 1: of Zappos, Tony shay Um. Sadly, he died last week 567 00:25:15,480 --> 00:25:18,320 Speaker 1: from injuries that he suffered from a house fire while 568 00:25:18,400 --> 00:25:21,560 Speaker 1: visiting some of his family members in Connecticut. The details 569 00:25:21,560 --> 00:25:24,119 Speaker 1: are still being investigated, and obviously it's a it's an 570 00:25:24,119 --> 00:25:28,360 Speaker 1: incredible tragedy, but it just reminded me of kind of 571 00:25:28,400 --> 00:25:30,560 Speaker 1: the life that he lived and the ways in which 572 00:25:30,560 --> 00:25:34,320 Speaker 1: he left a real mark both in business and um 573 00:25:34,359 --> 00:25:36,680 Speaker 1: just as an individual, the way that he lived and 574 00:25:36,800 --> 00:25:40,359 Speaker 1: has bent towards happiness, especially the happiness of others, is 575 00:25:40,400 --> 00:25:43,159 Speaker 1: worth mentioning. Um. He lived his life essentially in a 576 00:25:43,200 --> 00:25:46,760 Speaker 1: way that he wanted his employees and everyone he surrounded 577 00:25:46,840 --> 00:25:49,800 Speaker 1: himself with to be to be incredibly happy, and and 578 00:25:49,840 --> 00:25:52,800 Speaker 1: that guided everything that he did in business and in 579 00:25:52,880 --> 00:25:55,360 Speaker 1: his personal life. UM. So yeah, it was just sad 580 00:25:55,440 --> 00:25:59,000 Speaker 1: to hear about his tragic passing, but it reminded me 581 00:25:59,160 --> 00:26:01,280 Speaker 1: of a life that he lived and the life that 582 00:26:01,320 --> 00:26:03,600 Speaker 1: he lived, he he lived really well, at least from 583 00:26:03,600 --> 00:26:05,800 Speaker 1: everything I've read. Yeah, at one point he said that 584 00:26:06,000 --> 00:26:09,159 Speaker 1: his definition of success is that you could lose everything 585 00:26:09,200 --> 00:26:11,359 Speaker 1: you have and truly be okay with it. Man. I 586 00:26:11,480 --> 00:26:14,080 Speaker 1: love that. I think that's a great definition. Um. And 587 00:26:14,200 --> 00:26:16,200 Speaker 1: not only was he a really interesting guy, he really 588 00:26:16,240 --> 00:26:18,760 Speaker 1: changed the way that companies think about how they run 589 00:26:18,760 --> 00:26:21,840 Speaker 1: their businesses and then the customer experience in particular. You know, 590 00:26:22,160 --> 00:26:24,600 Speaker 1: all of that came out of his mission to to 591 00:26:24,680 --> 00:26:27,320 Speaker 1: make other people happy. Uh. There is an old episode 592 00:26:27,359 --> 00:26:29,680 Speaker 1: remember listening to of How I Built This I think, 593 00:26:29,720 --> 00:26:32,040 Speaker 1: where he was being interviewed there and he was talking 594 00:26:32,080 --> 00:26:35,879 Speaker 1: about how Zappos was a customer service company that happens 595 00:26:35,920 --> 00:26:39,360 Speaker 1: to sell shoes, right, and so in his mind, he 596 00:26:39,440 --> 00:26:41,560 Speaker 1: was way more interested in the impact that you can 597 00:26:41,560 --> 00:26:43,520 Speaker 1: have on other individuals, that the impacts that you can 598 00:26:43,560 --> 00:26:47,080 Speaker 1: have on people's lives versus the actual thing whatever that 599 00:26:47,080 --> 00:26:49,520 Speaker 1: happens to be that you're selling. I think that's an 600 00:26:49,560 --> 00:26:52,720 Speaker 1: amazing philosophy and outlook on how you approach life. We 601 00:26:52,720 --> 00:26:54,600 Speaker 1: could totally use some more companies like that, and when 602 00:26:54,600 --> 00:26:58,240 Speaker 1: we could totally use more leaders leading the companies who 603 00:26:58,359 --> 00:27:00,840 Speaker 1: believe in that, and so too. At Tony will will 604 00:27:00,840 --> 00:27:03,439 Speaker 1: definitely be missed. Yeah, one of the coolest things I 605 00:27:03,440 --> 00:27:05,959 Speaker 1: read too was that he lived in an airstream, So 606 00:27:06,040 --> 00:27:08,280 Speaker 1: he he really put his money where his mouth was. 607 00:27:08,320 --> 00:27:12,200 Speaker 1: He valued experiences over things, um, and he valued different 608 00:27:12,200 --> 00:27:14,119 Speaker 1: way of looking at the world. Yeah, he valued his 609 00:27:14,160 --> 00:27:17,119 Speaker 1: happiness and other people's happiness over money. And you know, 610 00:27:17,160 --> 00:27:18,679 Speaker 1: we talked about money a lot on the show. We 611 00:27:18,680 --> 00:27:21,960 Speaker 1: want people to handle their money well, but amassing huge, 612 00:27:22,040 --> 00:27:24,040 Speaker 1: huge amounts of money so you can live a super 613 00:27:24,040 --> 00:27:26,320 Speaker 1: fancy lifestyle isn't something that you and I are about, 614 00:27:26,320 --> 00:27:28,640 Speaker 1: and it's not something that Tony Shape was about. So yeah, 615 00:27:28,680 --> 00:27:31,000 Speaker 1: we felt compelled to mention that on the show. And 616 00:27:31,000 --> 00:27:33,000 Speaker 1: so yeah, that's gonna do it for this episode. We 617 00:27:33,040 --> 00:27:35,280 Speaker 1: wish you the happiest of weekends, um, and hope to 618 00:27:35,320 --> 00:27:38,000 Speaker 1: see you back here on Monday, where we're interviewing our 619 00:27:38,040 --> 00:27:40,520 Speaker 1: friend Rich who's gonna talk about negotiating a pay raise 620 00:27:40,560 --> 00:27:43,440 Speaker 1: and what it looks like to navigate the current job environment. 621 00:27:43,640 --> 00:27:45,080 Speaker 1: So yeah, that's gonna be a really good one. You 622 00:27:45,119 --> 00:27:46,719 Speaker 1: don't want to miss it, that's right, And if you 623 00:27:46,720 --> 00:27:49,320 Speaker 1: like this show, don't forget to tell a friend about it, 624 00:27:49,359 --> 00:27:51,560 Speaker 1: so Joel, that's gonna be a buddy until next time. 625 00:27:51,760 --> 00:28:01,960 Speaker 1: Best friends out, Best friends out, m m m m