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<v Speaker 1>Joel Larsguard, a host of How to Money Sunday's twelve

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<v Speaker 1>pm to two pm.

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<v Speaker 2>His social address said, how Too Money, Joel?

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<v Speaker 3>Morning, Joel, Oh I'm here, you hear me?

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<v Speaker 1>Well, there you go, now I can Yeah, Okay, we

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<v Speaker 1>just had a little bit of a glitch.

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<v Speaker 2>Okay.

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<v Speaker 1>We immediately go, of course to Costco News and Costco

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<v Speaker 1>executive members, of which I am one.

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<v Speaker 2>I understand.

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<v Speaker 1>I'm getting more perks, better lunches when I go for samples.

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<v Speaker 4>Yeah. If only maybe the Costco the hot Dog Coke

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<v Speaker 4>Comba will be a dollar forty instead of a dollar fifty.

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<v Speaker 3>Wouldn't that be nice? Uh?

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<v Speaker 1>You know what, at a dollar fifty, I can't imagine

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<v Speaker 1>how much money they're losing.

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<v Speaker 2>It's been a buck fifty since the day they opened.

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<v Speaker 4>That's right, That's right. Yeah, I'm like literally, actually it's fascinated.

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<v Speaker 4>I'm reading a biography of Saul Price, who was the

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<v Speaker 4>guy who basically started the warehouse revolution, and I mean,

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<v Speaker 4>just all what a man full of integrity, and just

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<v Speaker 4>all that he did to pass value onto customers was incredible.

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<v Speaker 3>And so that's what costco members today.

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<v Speaker 4>Costco is essentially the legacy of this guy saw price

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<v Speaker 4>and the Yeah, the perks are getting even better for

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<v Speaker 4>executive members.

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<v Speaker 3>Who go to Costco.

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<v Speaker 4>And the thing is, I think a lot of people

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<v Speaker 4>buy the basic membership and they just assume, hey, this

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<v Speaker 4>is probably good enough, Like why do I need the

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<v Speaker 4>more expensive one?

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<v Speaker 3>Well, now Costco.

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<v Speaker 4>I mean, there are already good reasons to be a

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<v Speaker 4>Costco executive member, but now there are even more. And

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<v Speaker 4>so they're going to open up the warehouse an hour

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<v Speaker 4>early for you on weekdays at nine am. They'll stay

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<v Speaker 4>open an extra hour for you on Saturdays until seven pm.

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<v Speaker 4>So if you're like me and you're always like trying

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<v Speaker 4>to go to Costco at six pm on a Saturday

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<v Speaker 4>and you're like, dang it they're closed, Well now they

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<v Speaker 4>won't be closed for you as an executive member. This

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<v Speaker 4>starts in like less than two weeks. And the other

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<v Speaker 4>cool thing Bill I'm not sure it sounds like you

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<v Speaker 4>like to go to the warehouse in person, which I

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<v Speaker 4>do too, But some people are really digging this Costco

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<v Speaker 4>Same Day, which is run by Instacart, and so Costco

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<v Speaker 4>is also going to throw.

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<v Speaker 3>You a bone.

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<v Speaker 4>If you're into that, They'll they'll toss you ten bucks

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<v Speaker 4>off one hundred and fifty dollars or on those same

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<v Speaker 4>day purchases every single month. So just that alone, we'll

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<v Speaker 4>almost essentially pay for the membership. Granted you're paying higher

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<v Speaker 4>prices by doing the Instacart option, but that's another nice

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<v Speaker 4>perk if you like to order VI the same day.

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<v Speaker 2>That's pretty impressive. Okay.

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<v Speaker 1>And I noticed also a quick word. I noticed that

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<v Speaker 1>the people who are doing the samples, which I love,

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<v Speaker 1>they've gotten a lot older and they're speaking a lot

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<v Speaker 1>less English.

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<v Speaker 2>It's just one of those things. All right, let's do this.

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<v Speaker 1>Oh, here's another one, and that's the Chase Sapphire Reserve.

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<v Speaker 2>And I have that. I have a Chase card and

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<v Speaker 2>Sapphire Reserve.

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<v Speaker 1>And I understand, and you're right, it's a big new

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<v Speaker 1>annual fee. But let's talk about why it's a good

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<v Speaker 1>idea for me to do that, because I think it is.

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<v Speaker 4>Yeah, So this is a premium credit card right in

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<v Speaker 4>the American Express kind of has overwhelmingly dominated the premium

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<v Speaker 4>credit card space until Chase got in with the Sapphire Reserve.

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<v Speaker 4>And both American Express and Chase are updating their super

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<v Speaker 4>fancy premium cards, and part of what they're doing is saying, actually,

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<v Speaker 4>we're gonna ramp up the annual fee so by basically

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<v Speaker 4>one hundred and fifty bucks. So the new annual fee

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<v Speaker 4>for the Chase Sapphire Reserve is going to be seven

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<v Speaker 4>hundred and ninety five dollars.

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<v Speaker 2>Yeah, and I think it's four five. Now that's a

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<v Speaker 2>lot of money.

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<v Speaker 3>Yes, it's so much money.

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<v Speaker 4>And so what they have to do is provide a

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<v Speaker 4>value proposition and say, hey, here's why it's worth it.

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<v Speaker 3>To hold onto this card.

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<v Speaker 4>And this is really I think for the upper echelon

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<v Speaker 4>of spenders. This is for the bill handles of the world.

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<v Speaker 4>This fancy credit card. And yet but if you are

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<v Speaker 4>someone who travels frequently and who uses high end services,

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<v Speaker 4>this card can more than pay for itself. But you

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<v Speaker 4>just have to run the numbers. And you also, because

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<v Speaker 4>of the way that the credit card rewards are often

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<v Speaker 4>implemented these days, you have to pay more attention to

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<v Speaker 4>where you're spending is going, what cards you're putting the

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<v Speaker 4>spending on, and when those when those those you spends

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<v Speaker 4>are actually hitting your balance your statement because they're kind

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<v Speaker 4>of split up month to month or in parts of

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<v Speaker 4>the year, chunks of the year, So you might get

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<v Speaker 4>a credit that works January through June, and then you

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<v Speaker 4>might get there's another credit that works July through December,

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<v Speaker 4>and so you have to be paid really close attention.

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<v Speaker 4>But if you're into Peloton, Apple TV, Apple Music, if

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<v Speaker 4>you are a traveler and you like to stay at

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<v Speaker 4>high end hotels, this card is getting even better for

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<v Speaker 4>those kinds of folks.

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<v Speaker 1>Yeah, Now a quick word, by the way, here's my advantage,

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<v Speaker 1>and that is is I run my businesses through the card.

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<v Speaker 1>And people who have businesses and pay bills business bills

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<v Speaker 1>with a card that gets your miles. That is that's

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<v Speaker 1>and that is not a lot of people can do

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<v Speaker 1>that because they don't have businesses, But man, that's the

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<v Speaker 1>huge advantage for me.

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<v Speaker 4>A lot more people can then think, like some of

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<v Speaker 4>those business cards are more widely available than you might assume.

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<v Speaker 4>If you just do something incredibly part time out of

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<v Speaker 4>your house, if you like crochet stuff and you sell

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<v Speaker 4>it to neighbors, like that can count as a business

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<v Speaker 4>and you can still qualify for a business credit card.

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<v Speaker 4>You don't have to have like multiple employees and have

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<v Speaker 4>this bustling industry that you that you are running in

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<v Speaker 4>order to qualify for those business cards. I think some

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<v Speaker 4>people think it's a higher threshold than it actually is.

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<v Speaker 1>Yeah, and you can have a failing business like mine

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<v Speaker 1>and still get a lot of a lot of miles.

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<v Speaker 2>All right, So explain once again what.

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<v Speaker 1>An ETF is and an NFT and what the story

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<v Speaker 1>is that you're going to talk about, because I always

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<v Speaker 1>have a hard time understanding the differences between that and

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<v Speaker 1>crypto and all of that.

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<v Speaker 4>It's so it's an alphabet alphabet soup we've got going

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<v Speaker 4>on here. And we haven't really talked about NFTs in

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<v Speaker 4>a couple of years. They've been kind of lying dormant.

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<v Speaker 4>And NFTs are non fungible tokens, and so I was

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<v Speaker 4>literally just talking to Kno about this.

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<v Speaker 3>He's a big thing of NFTs. I am not.

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<v Speaker 4>So we disagree on this a little bit. But NFTs,

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<v Speaker 4>I mean think you remember like the board apes project

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<v Speaker 4>that was so big, and there were people on nighttime

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<v Speaker 4>comedy shows talking about the expensive board apes they had bought.

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<v Speaker 4>And so there are these essentially essentially like JPEGs that

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<v Speaker 4>you own, and the whole thing was a house of

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<v Speaker 4>cards that came crashing down. People were paying extreme dollars

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<v Speaker 4>for some of these NFTs as they rose in popularity,

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<v Speaker 4>there was a lot of speculative money flowing into the space,

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<v Speaker 4>and then a lot of people who bought at the

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<v Speaker 4>apex got burned and they lost a ton of money.

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<v Speaker 4>And those board apes are still worth at most ten

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<v Speaker 4>percent of what they were back in the day, and

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<v Speaker 4>which was like hundreds of thousands of dollars, which is

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<v Speaker 4>kind of insane to think that's what people were paying

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<v Speaker 4>for a digital image, but that is We're starting to

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<v Speaker 4>see NFTs back on the uptrend. And there's actually an

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<v Speaker 4>ETF an exchange traded fund, so you can buy it

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<v Speaker 4>like you would buy a stock or an index fund

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<v Speaker 4>that is behind this NFT project, which is called Pudgy Penging,

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<v Speaker 4>and it's really goofy if you go you look at

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<v Speaker 4>the website. It's kind of cute, also kind of funny,

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<v Speaker 4>and basically the website is trying to proliferate meme culture.

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<v Speaker 4>And we live in a culture that is dominated by

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<v Speaker 4>memes these days, and so I think a lot of

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<v Speaker 4>young investors might say, great, this sounds like a good

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<v Speaker 4>way to invest, like cute project, meme culture. That's the

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<v Speaker 4>world we're living in. But I just think that the NFT.

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<v Speaker 4>Investing in NFTs is more of a speculative endeavor than

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<v Speaker 4>it is actually a hope that your money will grows.

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<v Speaker 2>Okay, so let me ask so let me get this right.

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<v Speaker 1>You have a meme, for example, and it's out there

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<v Speaker 1>for sale. Someone creates a meme and puts it out there,

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<v Speaker 1>effectively says, if you want this just to be yours,

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<v Speaker 1>then you pay me or you invest in this, and

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<v Speaker 1>for a meme? What the hell do you do with

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<v Speaker 1>a meme? I mean, how is that an investment? Explain

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<v Speaker 1>that to me.

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<v Speaker 3>Well, that's a good question.

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<v Speaker 4>So you know, there are certain NFTs that have done

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<v Speaker 4>decently well, like Conan and I were just talking about

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<v Speaker 4>top Shots, which is like you actually own a highlight

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<v Speaker 4>clip of a moment in like an NBA game, and

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<v Speaker 4>so some people might think that's really cool, it's worth having.

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<v Speaker 4>The problem is in this space there's so much speculation.

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<v Speaker 4>There's this hope that other people are going to want

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<v Speaker 4>the thing more than you currently want it, and that

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<v Speaker 4>the value is going to go up, and so it's

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<v Speaker 4>less like hey, I want to buy this piece of

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<v Speaker 4>art that lives on my computer or on my phone

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<v Speaker 4>instead of on the wall and I just want to

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<v Speaker 4>enjoy it. That's the case for some people, but for

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<v Speaker 4>a lot of people, it's saying, Ooh, how can we

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<v Speaker 4>bid up the price of this thing, make it seem

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<v Speaker 4>sexy and cutting edge, and then bail at the right

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<v Speaker 4>time so we made some good money and somebody else

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<v Speaker 4>got left holding the bag. So that's a lot of

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<v Speaker 4>what I see happening in the NFT space. It's also

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<v Speaker 4>what I see happening a lot in the crypto space.

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<v Speaker 4>I think bitcoin is a little different than most of

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<v Speaker 4>the other cryptocurrencies, but I think in so much of

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<v Speaker 4>the cryptocurrency space you see a ton of that type

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<v Speaker 4>of behavior.

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<v Speaker 3>And I just hear from.

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<v Speaker 4>A lot of listeners who you are attracted to it

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<v Speaker 4>because hey, price is skyrocketing, gets you excited, and you're like,

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<v Speaker 4>I want to get in on that. I'm sitting on

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<v Speaker 4>the sidelines and I'm making you know, on average and

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<v Speaker 4>ten percent returns a year, what I'm a loser.

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<v Speaker 3>And then what.

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<v Speaker 4>Happens is you get in at the wrong time and

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<v Speaker 4>you are the one who gets screwed. It's like.

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<v Speaker 1>Buying snake oil, but at least you get snake oil.

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<v Speaker 1>You know, there's something there, or the tulip craze back

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<v Speaker 1>in the sixteen hundred's in Holland.

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<v Speaker 2>I mean there was one tulip.

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<v Speaker 1>It got so crazy it sold for the equivalent of

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<v Speaker 1>five hundred thousand dollars a tulip one bulb.

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<v Speaker 2>But you had a bulb in your hand, there was

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<v Speaker 2>something there.

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<v Speaker 1>You could touch it, you could plant it, you could

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<v Speaker 1>do whatever the hell you wanted. This one I just

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<v Speaker 1>don't get. I don't even understand crypto, to be honest

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<v Speaker 1>with you, But.

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<v Speaker 3>You know, I always advise to Bell.

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<v Speaker 4>I think it's really important, like if you're interested in this,

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<v Speaker 4>and if this is something that you think is cool

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<v Speaker 4>or cutting edge, or you do have a belief in

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<v Speaker 4>the few sure about. I mean, I think there are

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<v Speaker 4>technology components to NFTs that might be interesting in the future.

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<v Speaker 4>There could be there could be fascinating ways that NFTs

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<v Speaker 4>are employed. But I guess I'm worried about the speculative

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<v Speaker 4>endeavor behind it. And so if you are interested in this,

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<v Speaker 4>I think you just have to say, I'm willing to

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<v Speaker 4>put my money on pudgy penguins or whatever it is,

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<v Speaker 4>but I'm only willing to put a really small portion.

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<v Speaker 4>And if you're and it has to be amount of

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<v Speaker 4>money that you're not going to lose sleepover if you

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<v Speaker 4>lose that money. So just be really careful and make

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<v Speaker 4>sure you're doing the boring stuff first and that this

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<v Speaker 4>is really just a sideshow with a small amount of

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<v Speaker 4>your money.

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<v Speaker 2>Yeah, to me, there has to be a there there

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<v Speaker 2>for me. There does you know?

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<v Speaker 1>For example, gold is hugely volatile, it has been, and

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<v Speaker 1>I've never been a big fan, although I have bought gold.

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<v Speaker 2>Now is a hedge, but you have gold, you know.

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<v Speaker 2>I mean, there's something there.

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<v Speaker 1>And when they talk about the dollar not being worth anything,

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<v Speaker 1>it's just a piece of paper and it's people's confidence.

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<v Speaker 1>There's a real economy of a government behind that dollar.

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<v Speaker 1>I mean, there is there there but the rest of it.

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<v Speaker 1>And by the way, I probably could have been a

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<v Speaker 1>zillionaire if I had invested early, but.

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<v Speaker 2>You know, not at all. I'm not a zillionaire because

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<v Speaker 2>I didn't invest early.

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<v Speaker 1>Okay, all right, So this Sunday, my friend, twelve to

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<v Speaker 1>two pm right here on KFI.

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<v Speaker 2>Have a good one.

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<v Speaker 3>Thanks. Bill.