WEBVTT 1 00:00:00.200 --> 00:00:00.960 Bill Handle Show. 2 00:00:01.000 --> 00:00:04.559 Neil Savadri here with the Morning show Gang, Happy Thursday 3 00:00:04.599 --> 00:00:04.960 to you. 4 00:00:04.960 --> 00:00:08.480 You know what that means. You hear that soundtrack, that. 5 00:00:08.400 --> 00:00:12.359 Means Joelar's guard is swaggering in Are you swaggering? 6 00:00:12.439 --> 00:00:15.000 Sir? Always bring the swagger every time. 7 00:00:15.080 --> 00:00:18.039 I have a host of Out of Money Sundays noon 8 00:00:18.160 --> 00:00:19.920 to two pm. Great show if you haven't heard it, 9 00:00:19.960 --> 00:00:22.760 and of course you can find him at How to Money? 10 00:00:23.039 --> 00:00:27.000 Joel How are you, sir? Oh, I'm phenomenal, Neil. It's 11 00:00:27.000 --> 00:00:28.559 good to be talking with you. Nice talk to you. 12 00:00:28.600 --> 00:00:31.399 Still seven feet tall with a dozen. 13 00:00:31.160 --> 00:00:34.600 Kids trying to be Yeah, not a dozen yet, but 14 00:00:34.920 --> 00:00:35.679 working towards it. 15 00:00:35.759 --> 00:00:37.840 We'll get there. It was your family like. 16 00:00:40.439 --> 00:00:46.799 Vikings, Well from the realm of the Vikings, that's for sure. 17 00:00:47.200 --> 00:00:49.520 There's probably Vikings in our history. There's probably a bloody, 18 00:00:49.520 --> 00:00:52.039 gory past I don't know about. You're like a tall 19 00:00:52.079 --> 00:00:55.520 guy and you are making minions. I love it, which 20 00:00:55.520 --> 00:00:58.920 is why you've got swinging an axe, yeh, which is 21 00:00:58.960 --> 00:01:03.920 why you got to protect your money so social security. 22 00:01:04.040 --> 00:01:06.640 You have been talking on your show about people freaking 23 00:01:06.680 --> 00:01:10.280 out because of tariffs and the like and doing this 24 00:01:10.480 --> 00:01:14.280 kind of preemptive buying. Right, You're talking about them going 25 00:01:14.280 --> 00:01:16.920 out and buying cars or doing things because they go, oh, 26 00:01:16.959 --> 00:01:17.640 the price is going to go. 27 00:01:18.040 --> 00:01:18.280 Well. 28 00:01:19.200 --> 00:01:22.680 Now there's another concern, and that's people claiming social security 29 00:01:22.799 --> 00:01:24.239 early out of fear. 30 00:01:24.799 --> 00:01:25.400 What's going on? 31 00:01:25.480 --> 00:01:28.120 Yeah, yeah, I mean when you think about it, Neil, 32 00:01:28.319 --> 00:01:31.120 a lot of us do things out of fear instead 33 00:01:31.120 --> 00:01:34.519 of really taking the time to assess the situation and 34 00:01:34.560 --> 00:01:37.920 say what's in my rational best interest. There's a whole 35 00:01:37.959 --> 00:01:40.159 lot of uh. And I think part of this is 36 00:01:40.400 --> 00:01:43.879 news media. It's headlines. It's the twenty four hour news cycle, 37 00:01:43.959 --> 00:01:46.159 and so you see stuff about, oh man cuts up 38 00:01:46.159 --> 00:01:48.799 the Social Security administration. Oh man, I can't I can't 39 00:01:48.799 --> 00:01:50.760 get anybody on the phone there. 40 00:01:51.120 --> 00:01:53.239 And then on top of that, you see the. 41 00:01:53.719 --> 00:01:57.239 Perpetual headlines that are just saying, hey, social Security Security 42 00:01:57.319 --> 00:02:01.640 is moving towards insolvency. And so people are like, wait 43 00:02:01.680 --> 00:02:03.719 a second, like is that money going to be there 44 00:02:03.760 --> 00:02:08.080 for me? And so people who are retiring now they're 45 00:02:08.080 --> 00:02:10.199 in their sixties, they're saying, I'm going to get the 46 00:02:10.280 --> 00:02:14.039 money while it's there, because I don't know if it's 47 00:02:14.080 --> 00:02:15.319 going to be there in the future. And so what 48 00:02:15.360 --> 00:02:18.919 this is leading to is people doing the thing that's 49 00:02:18.960 --> 00:02:22.400 actually not in their ultimate best interest because of worry 50 00:02:22.479 --> 00:02:25.439 and fear, And so they're taking the Social Security bird 51 00:02:25.439 --> 00:02:28.039 in the hand at age like sixty two instead of 52 00:02:28.039 --> 00:02:31.919 waiting more years because they're just like thinking, I don't 53 00:02:31.919 --> 00:02:33.360 know is the money going to be there if I wait? 54 00:02:35.000 --> 00:02:37.479 You know, out of all the things, you know, I 55 00:02:38.039 --> 00:02:41.199 like coupling, I love being married, I love it. I 56 00:02:41.400 --> 00:02:44.240 love having a partner in life. But out of all 57 00:02:44.319 --> 00:02:46.759 the things that my wife and I talk about, we 58 00:02:46.800 --> 00:02:48.719 talk about that fear factor with money. 59 00:02:48.840 --> 00:02:50.280 How people lead with fear? 60 00:02:50.680 --> 00:02:55.199 What is it about money that makes like everything is is. 61 00:02:55.199 --> 00:02:57.360 Fear based with money, which is a weird. I never 62 00:02:57.400 --> 00:02:58.199 want to be that guy. 63 00:02:58.280 --> 00:03:00.800 I just never want to be that person make more money, 64 00:03:01.039 --> 00:03:03.240 but you know, I don't want to make myself crazy. 65 00:03:03.520 --> 00:03:06.000 So how can we lead with fear? So well? 66 00:03:06.000 --> 00:03:08.680 One of my favorite quotes from a financial writer named 67 00:03:08.680 --> 00:03:11.680 Morgan Housel is that you should invest like an optimist 68 00:03:11.759 --> 00:03:14.360 and save like a pessimist because there is some room 69 00:03:14.400 --> 00:03:17.800 for pessimism right in money, because we all know unexpected 70 00:03:17.840 --> 00:03:20.520 things can happen, and so it's you don't want to 71 00:03:20.560 --> 00:03:23.400 have this like rose colored glasses Pollyanna view of the 72 00:03:23.439 --> 00:03:25.680 world and just say, like, what will be will be, 73 00:03:25.840 --> 00:03:27.719 and I don't have to worry about tomorrow. I want 74 00:03:27.759 --> 00:03:30.800 you to plan and think about those things. But yeah, 75 00:03:30.800 --> 00:03:33.039 but if you can invest like an optimist and say 76 00:03:33.039 --> 00:03:36.039 our better days are ahead, but also save in such 77 00:03:36.039 --> 00:03:37.879 a way where you're like I am planning and I 78 00:03:37.919 --> 00:03:41.400 am prepared for things to come down the pike. I 79 00:03:41.479 --> 00:03:44.319 talked about this with Amy on Tuesday for a quick minute. 80 00:03:44.520 --> 00:03:46.840 Vanguard basically found, Hey, if you have at least two 81 00:03:46.840 --> 00:03:49.919 thousand dollars in the bank, you're going to reduce your 82 00:03:49.919 --> 00:03:52.520 financial stress significantly. You're going to be more prepared for 83 00:03:52.520 --> 00:03:55.680 an emergency. Just two thousand bucks, Like the stakes aren't 84 00:03:55.680 --> 00:03:57.960 even that high, but obviously I want people to have 85 00:03:57.960 --> 00:04:00.199 even more than that in savings. But it's amazing how 86 00:04:00.240 --> 00:04:02.080 just a little bit of money and samey's can really 87 00:04:02.120 --> 00:04:03.159 reduce a lot of that fear. 88 00:04:03.319 --> 00:04:04.080 So I think that's. 89 00:04:04.039 --> 00:04:06.039 Part of it is you have to and you also 90 00:04:06.120 --> 00:04:08.439 have to just like look at the data. When you 91 00:04:08.479 --> 00:04:11.159 look at the data around something like social Security, the 92 00:04:11.240 --> 00:04:15.479 benefit is like seventy five percent higher if you wait 93 00:04:15.520 --> 00:04:18.519 to claim social Security until age seventy instead of taking 94 00:04:18.519 --> 00:04:21.560 it at age sixty two, and to break even point 95 00:04:21.759 --> 00:04:23.639 for a person who takes socialit party, you have to 96 00:04:23.639 --> 00:04:26.839 take a lot of other circumstances into account, including are 97 00:04:26.839 --> 00:04:29.720 you married and how's your health? That kind of stuff. 98 00:04:30.040 --> 00:04:30.639 But a lot of. 99 00:04:30.600 --> 00:04:33.040 People are claiming at age sixty two and their fit 100 00:04:33.079 --> 00:04:35.879 as a fiddle, and they're expecting to live hopefully till 101 00:04:35.920 --> 00:04:39.000 they're ninety, and they would have been better off waiting, 102 00:04:39.040 --> 00:04:41.240 at least from a financial perspective. And this makes something 103 00:04:41.279 --> 00:04:44.480 like a six figure difference for a lot of retirees 104 00:04:44.560 --> 00:04:47.800 over the course of that extra Decade's. 105 00:04:46.879 --> 00:04:51.319 So funny you mentioned that because I heard you listening 106 00:04:51.759 --> 00:04:55.600 to Wake Up Call with Amy, and I immediately told 107 00:04:55.639 --> 00:04:57.800 my wife when we you know, debriefed for the day 108 00:04:57.839 --> 00:04:59.319 at the end of the day about that, and like, 109 00:05:00.120 --> 00:05:02.560 you know, okay, where are we healthy, where do we 110 00:05:02.600 --> 00:05:05.959 feel we're healthy? And do we have enough in the 111 00:05:06.000 --> 00:05:09.000 bank and those types of things. You know, in California, 112 00:05:09.079 --> 00:05:13.240 two thousand bucks in savings is gas money, sure, but 113 00:05:14.360 --> 00:05:16.519 you know, but we looked at we used that to 114 00:05:16.600 --> 00:05:18.879 jump off and to look at everything and to where 115 00:05:18.879 --> 00:05:21.120 we are. And you know, it's funny you were talking 116 00:05:21.160 --> 00:05:24.319 about how you don't take things for granted, and you 117 00:05:24.800 --> 00:05:27.000 have to be a little pessimistic when it comes to money. 118 00:05:27.639 --> 00:05:31.240 A really wonderful word of wisdom from my father in 119 00:05:31.360 --> 00:05:35.560 law one time. You know, this was years ago, and 120 00:05:35.639 --> 00:05:38.240 things were shaky. I know they're always shaky in radio, 121 00:05:38.920 --> 00:05:41.399 and I said, I don't worry, because I would do 122 00:05:41.439 --> 00:05:46.079 anything to feed my family. I would, you know, manual labor, 123 00:05:46.079 --> 00:05:47.879 whatever it is. And he put his hand on my 124 00:05:47.879 --> 00:05:50.680 shoulder and he goes, I know you believe that, and 125 00:05:50.759 --> 00:05:53.839 I know in your heart of hearts you would, but 126 00:05:53.879 --> 00:05:56.000 there'll be a day when your body can't back that up. 127 00:05:56.879 --> 00:05:59.240 And it's like he said, and it hit me, Yeah, 128 00:05:59.279 --> 00:06:02.319 there's physically you know, I would dig ditches, I'd do 129 00:06:02.360 --> 00:06:05.600 whatever it takes. But he said, yeah, but your body 130 00:06:05.639 --> 00:06:07.639 won't be able to do that. So you have there's 131 00:06:07.839 --> 00:06:11.680 just there is some forethinking and all of this to 132 00:06:11.800 --> 00:06:15.000 make sure that when your body does not work at 133 00:06:15.040 --> 00:06:18.279 its prime anymore, you have that you have this to 134 00:06:18.360 --> 00:06:25.240 fall back on. Any any prognostication as to what's going 135 00:06:25.240 --> 00:06:28.439 on with Social Security and when there might be a breakdown. 136 00:06:29.160 --> 00:06:33.199 Well, so all the predictions are basically saying that the 137 00:06:33.279 --> 00:06:35.879 Social Security Trust Fund is going to run out in 138 00:06:36.279 --> 00:06:40.480 basically a decade, and so what happens though when that's 139 00:06:40.519 --> 00:06:42.040 the case, Well, there are still a whole lot of 140 00:06:42.040 --> 00:06:43.920 people like you and me who are working and we're 141 00:06:43.920 --> 00:06:47.959 paying into the Social Security system with every paycheck that 142 00:06:48.000 --> 00:06:52.000 we get, and so because of that, it's not that 143 00:06:52.360 --> 00:06:54.879 Social Security goes away completely. And this is something that 144 00:06:54.920 --> 00:06:58.240 people should be planning for, especially younger people. If you're 145 00:06:58.240 --> 00:07:00.319 in your thirties and forties, is like, well, if long 146 00:07:00.399 --> 00:07:04.000 into the back end of Social Security's website, they'll project 147 00:07:04.319 --> 00:07:07.079 what you're likely to get when you reach retirement age, 148 00:07:07.519 --> 00:07:10.680 and that benefits likely to be cut by twenty five 149 00:07:10.720 --> 00:07:13.800 percent when we reach that date if nothing is done 150 00:07:14.399 --> 00:07:18.639 in the meantime. And the tough thing is Congress and politicians. 151 00:07:18.920 --> 00:07:21.759 They've they've had very little stomach to address the issue 152 00:07:21.759 --> 00:07:24.720 of Social Security. So it's not that, hey, everything's rosy 153 00:07:24.920 --> 00:07:28.199 and the Social Security the way Social Security is constructed 154 00:07:28.680 --> 00:07:32.319 is totally flawless and everything's going to be okay. That's 155 00:07:32.399 --> 00:07:35.319 not what I'm saying either. I just I think specifically 156 00:07:35.319 --> 00:07:38.759 for people in their sixties, waiting extra years makes sense 157 00:07:38.800 --> 00:07:41.879 from an extra benefit perspective. For younger folks, you do 158 00:07:41.959 --> 00:07:43.759 have to be aware, and we have to hold our 159 00:07:43.800 --> 00:07:46.319 politicians feet to the fire and say, hey, what are 160 00:07:46.360 --> 00:07:48.000 you going to do about this to make sure social 161 00:07:48.000 --> 00:07:50.040 security is actually going to be around, And there's a 162 00:07:50.120 --> 00:07:52.319 number of things that likely need to be done in 163 00:07:52.360 --> 00:07:56.120 concert to ensure that social security stays around for centuries 164 00:07:56.120 --> 00:07:56.439 to come. 165 00:07:57.000 --> 00:08:00.120 I feel, you know, I don't know why, Joel, but 166 00:08:00.160 --> 00:08:02.560 I feel like I've been hearing that ten year date 167 00:08:03.600 --> 00:08:04.879 or over and over. 168 00:08:04.959 --> 00:08:07.199 It's like the h in the seventies. 169 00:08:07.879 --> 00:08:10.600 Excuse me when they started the Earth Day and they 170 00:08:10.600 --> 00:08:13.079 said they we had a decade before all hell was 171 00:08:13.120 --> 00:08:15.240 going to break loose and the world was going to implode. 172 00:08:16.079 --> 00:08:19.079 And here we are still saying in ten years the 173 00:08:19.120 --> 00:08:23.279 world's going to implode. But you really feel like if 174 00:08:23.319 --> 00:08:26.160 something's not done in ten years, is the top of 175 00:08:26.199 --> 00:08:27.439 that heap? 176 00:08:28.160 --> 00:08:30.639 I do, And again, I don't think it's an implosion, right, 177 00:08:30.759 --> 00:08:32.759 So I don't want to make it sound like that, 178 00:08:33.000 --> 00:08:34.159 but there is. 179 00:08:33.960 --> 00:08:38.159 There is a fear monger, Joel large guard fear monger. 180 00:08:38.720 --> 00:08:42.960 No implosion will take place, but it will be a 181 00:08:43.039 --> 00:08:47.519 cut in benefits that is effective immediately once we get 182 00:08:47.519 --> 00:08:50.320 to that point. And so people it's it's and I 183 00:08:50.360 --> 00:08:52.600 believe that that that would be from what I've seen, 184 00:08:53.120 --> 00:08:55.440 that that iteration of Social Security with like a reduced 185 00:08:55.440 --> 00:08:59.320 payout would be totally fine until like the year twenty 186 00:08:59.360 --> 00:09:01.679 eighty five or ninety. So it's again, it's not some 187 00:09:01.720 --> 00:09:05.279 sort of implosion or doomsday cliff. But it is important 188 00:09:05.279 --> 00:09:09.039 for younger folks who are investing for their future to 189 00:09:09.080 --> 00:09:11.840 be more cognizant of the fact that social security might 190 00:09:11.879 --> 00:09:13.639 not be there in the same way. 191 00:09:13.399 --> 00:09:14.919 That it is now. 192 00:09:15.919 --> 00:09:18.480 But for retirees or for people who are in their sixties, 193 00:09:19.200 --> 00:09:22.039 I wouldn't rush to claim at sixty two or sixty 194 00:09:22.080 --> 00:09:27.799 three just because I'm worried about that future social security spiral, 195 00:09:28.279 --> 00:09:30.600 but I would so. And by the way, there is 196 00:09:30.639 --> 00:09:33.320 this cool software. It costs like forty five bucks. I 197 00:09:33.399 --> 00:09:36.639 want to say to check out maximize mysocial security dot 198 00:09:36.639 --> 00:09:37.799 com and it could. 199 00:09:37.679 --> 00:09:40.039 Be well worth you looking into that. 200 00:09:40.320 --> 00:09:41.879 If you're trying to figure out when is the best 201 00:09:41.960 --> 00:09:44.039 date for you to claim, they'll ask you a bunch 202 00:09:44.039 --> 00:09:46.200 of questions. You can kind of calculate when your highest 203 00:09:46.200 --> 00:09:48.679 benefit is going to be. And I think it's worth 204 00:09:48.720 --> 00:09:51.600 it because you're talking about so much in potential money 205 00:09:51.600 --> 00:09:53.240 that you could be missing out on if you don't. 206 00:09:54.240 --> 00:10:00.159 Okay, so we moved from social Security onto cars. Tariffs 207 00:10:00.720 --> 00:10:06.440 at all, rising prices is going to cause a whole 208 00:10:06.480 --> 00:10:08.480 other problem with our finances. 209 00:10:08.559 --> 00:10:09.440 Tell us about that. 210 00:10:10.080 --> 00:10:12.639 I mean, nobody's tired of hearing or talking about tariffs, 211 00:10:12.639 --> 00:10:15.720 are they They're just it's really fun every time to 212 00:10:15.799 --> 00:10:19.480 keep talking about. Although fortunately there's been a little bit 213 00:10:19.559 --> 00:10:23.679 less in the headlines about tariffs and I don't know, man, 214 00:10:23.720 --> 00:10:25.720 where do things go from here is a big question, 215 00:10:26.240 --> 00:10:29.039 but it's interesting. One of the things that we talked 216 00:10:29.360 --> 00:10:31.399 we have talked about is kind of the pre buying 217 00:10:31.399 --> 00:10:34.799 phenomena that people are saying, well, the tariff riding is 218 00:10:34.840 --> 00:10:38.159 on the wall, maybe I should go ahead and buy 219 00:10:38.240 --> 00:10:42.840 stuff that I was like otherwise going to hold off, 220 00:10:42.879 --> 00:10:44.840 maybe buy a few months from now, or I don't know, 221 00:10:44.960 --> 00:10:47.480 maybe it wasn't even on my radar. But tariff's kind 222 00:10:47.519 --> 00:10:50.039 of going back to the fear thing that we discussed Neil. 223 00:10:50.120 --> 00:10:52.360 It's well, if they're coming down the pike, I'm getting 224 00:10:52.360 --> 00:10:54.279 a little scared. Maybe I should buy something now and 225 00:10:54.360 --> 00:10:56.759 it'll save me money. And this is kind of the 226 00:10:57.159 --> 00:11:00.159 Black Friday mentality that's kind of been beaten in to 227 00:11:00.200 --> 00:11:03.399 all of us as American consumers is like, well, buy 228 00:11:03.480 --> 00:11:07.279 it when it's a deal, or before it gets more expensive. 229 00:11:08.000 --> 00:11:10.679 And there was this article in Bloomberg basically saying, hey, 230 00:11:11.320 --> 00:11:14.919 that sort of mentality is leaving people with a debt problem, 231 00:11:14.919 --> 00:11:17.879 because yeah, maybe it's not the worst idea in the 232 00:11:17.879 --> 00:11:19.559 world if you have the cash, if you were going 233 00:11:19.600 --> 00:11:21.080 to make that purchase anyway, and you're like, hey, a 234 00:11:21.080 --> 00:11:22.279 few months from now, it. 235 00:11:22.200 --> 00:11:23.440 Is going to get more expensive. 236 00:11:23.720 --> 00:11:26.200 But for a lot of people, they don't have the cash, 237 00:11:26.399 --> 00:11:29.080 and they weren't necessarily prepared to make a big purchase, 238 00:11:29.159 --> 00:11:32.600 especially on something like an automobile. And so yeah, if 239 00:11:32.639 --> 00:11:36.480 it comes with a nine percent interest rate attached to it, 240 00:11:36.879 --> 00:11:39.639 and you bought more than you can actually afford, and 241 00:11:39.679 --> 00:11:42.559 you signed up for a seven year car loan, well, 242 00:11:42.600 --> 00:11:44.759 beating the tariffs wasn't really a win. 243 00:11:44.840 --> 00:11:45.919 And I think there are a lot. 244 00:11:45.759 --> 00:11:48.080 Of people kind of taking that sort of mentality, let 245 00:11:48.120 --> 00:11:50.559 me go ahead and beat the tariffs, and ultimately what 246 00:11:50.559 --> 00:11:57.360 they're doing is like self immolation. Wow, maybe too extreme. 247 00:11:57.399 --> 00:12:00.480 I don't know, No, I love it. I love it that. 248 00:12:02.679 --> 00:12:06.480 Yeah, I think that's a good way of financial self emolation. Yes, 249 00:12:06.559 --> 00:12:10.279 I got it. I was hoping it wasn't that. I'm like, 250 00:12:10.360 --> 00:12:15.360 are you holding the axe right now? But yeah, it's 251 00:12:15.399 --> 00:12:18.759 an interesting thing to watch because I have a lot 252 00:12:18.799 --> 00:12:24.120 of hobbies in like manufacturing and creating and building at home, 253 00:12:24.759 --> 00:12:28.399 so you know, a lot of three D printers and 254 00:12:28.440 --> 00:12:31.200 the like they're coming out of China and watching this 255 00:12:31.279 --> 00:12:34.840 whole thing unfold. I went to buy some parts the 256 00:12:34.919 --> 00:12:38.919 other day and I looked from like Timu or something, 257 00:12:38.960 --> 00:12:42.399 and I looked and I'm like, that price is not right. 258 00:12:43.240 --> 00:12:46.159 And I looked on Amazon and the exact same product 259 00:12:46.440 --> 00:12:49.879 was half the cost on Amazon because they must have 260 00:12:50.000 --> 00:12:54.480 had you know, local you know, local warehouses that have 261 00:12:54.720 --> 00:12:57.759 the stock or inventory in them or something, but. 262 00:12:58.080 --> 00:13:00.679 Half the price. And I was like, wow. 263 00:13:01.399 --> 00:13:04.639 And what you're what you're getting to is the fact that, hey, 264 00:13:04.759 --> 00:13:07.799 these tariffs have been implemented and and yes, some of 265 00:13:07.840 --> 00:13:09.399 them have been rolled back a little bit, but there's 266 00:13:09.440 --> 00:13:14.159 still widespread tariffs on most of the countries. 267 00:13:14.360 --> 00:13:15.000 In the world. 268 00:13:15.440 --> 00:13:18.399 And and you're right, like some of these businesses pre 269 00:13:18.519 --> 00:13:21.240 bought a lot of stuff, they have stocked up on 270 00:13:21.279 --> 00:13:24.399 some of the items that are most important to their business, 271 00:13:24.440 --> 00:13:27.559 and and they haven't yet had to raise prices, but 272 00:13:27.679 --> 00:13:30.240 slowly but surely those prices are going to go up. 273 00:13:30.279 --> 00:13:32.720 And this gets to kind of the comment that President 274 00:13:32.720 --> 00:13:36.720 Trump made about how many dolls eleven year old girls 275 00:13:36.720 --> 00:13:39.639 should own, and and so the thing that he's been 276 00:13:39.720 --> 00:13:41.559 kind of unwilling to admit, but in a moment of 277 00:13:41.559 --> 00:13:44.440 candor actually kind of came out of his mouth was like, well, yeah, 278 00:13:44.480 --> 00:13:47.200 maybe everyone should be okay with with owning less stuff. 279 00:13:47.600 --> 00:13:50.759 And from a minimalist perspective, I totally get that. I 280 00:13:50.759 --> 00:13:52.679 think if it's a personal choice to say, I know 281 00:13:52.799 --> 00:13:58.720 I'm gonna I'm gonna make an informed decision to buy less, 282 00:13:58.960 --> 00:14:02.240 to consume less and save money and save the planet, 283 00:14:02.279 --> 00:14:04.000 I think that's a wonderful thing. It's something we talk 284 00:14:04.039 --> 00:14:06.480 about on the show often. I think it's I think 285 00:14:06.519 --> 00:14:09.879 it also that sort of ingrained frugal mindset can help 286 00:14:09.960 --> 00:14:12.759 you save and invest more, gives you more optionality for 287 00:14:12.799 --> 00:14:15.799 your future. But if it's this sort of forced imposition 288 00:14:15.919 --> 00:14:17.559 that tariffs are going to put on us of like 289 00:14:17.840 --> 00:14:19.919 you won't be able to buy some of the things 290 00:14:19.919 --> 00:14:21.799 that you wanted to buy, I think that's going to 291 00:14:21.840 --> 00:14:24.440 be pretty untenable. And I'm curious to see how this 292 00:14:24.480 --> 00:14:26.679 shakes out. But but you're right, like we're starting to 293 00:14:26.720 --> 00:14:30.879 see that trickle trickling in of higher prices and how 294 00:14:30.919 --> 00:14:34.240 high they go and how widespread those higher prices get, 295 00:14:34.279 --> 00:14:38.639 and how it's going to impact how consumers feel about 296 00:14:38.840 --> 00:14:39.559 the policies. 297 00:14:40.080 --> 00:14:40.279 You know. 298 00:14:40.399 --> 00:14:43.159 On that note, I'm a big fan of repair and 299 00:14:43.200 --> 00:14:46.159 refurbish and I wish we'd get back to some of 300 00:14:46.200 --> 00:14:49.399 those skills that we had, yeah, you know in the 301 00:14:49.440 --> 00:14:49.960 day's past. 302 00:14:49.960 --> 00:14:50.399 I really do. 303 00:14:50.519 --> 00:14:53.200 Some things are made very we've gotten very disposable, especially 304 00:14:53.200 --> 00:14:55.399 with electronics, and you're. 305 00:14:55.600 --> 00:14:58.759 Spot on, spot on, and there's this you're right, and 306 00:14:59.000 --> 00:15:01.559 that is one of the things I think that some 307 00:15:01.639 --> 00:15:04.759 of the cheaper goods that come out of China, it's 308 00:15:04.799 --> 00:15:07.679 like we think of them as throwaway devices, like the 309 00:15:08.360 --> 00:15:09.639 toaster that you get or whatever. 310 00:15:09.679 --> 00:15:12.039 Sure, and there's I love the idea. 311 00:15:12.120 --> 00:15:14.399 There's kind of the buy for life thing that happens, 312 00:15:14.639 --> 00:15:18.120 whether it's like darn Tov socks or or whether it's 313 00:15:18.159 --> 00:15:20.080 like speed Queen washers and dryers. 314 00:15:20.080 --> 00:15:21.240 I don't know if you know about that. 315 00:15:21.200 --> 00:15:24.039 But yeah, they have like an epic warranty and they're 316 00:15:24.039 --> 00:15:27.039 built differently, and so yeah, they cost more upfront. But 317 00:15:27.120 --> 00:15:29.639 I'm all about people paying a little bit more upfront 318 00:15:29.840 --> 00:15:31.919 for something that's hopefully going to last a heck of 319 00:15:32.000 --> 00:15:34.799 a lot longer. And yeah, I hate the kind of 320 00:15:34.799 --> 00:15:35.960 planed obsolescence. 321 00:15:36.120 --> 00:15:38.279 Yes that a lot of our electronics go oh my gosh, 322 00:15:38.480 --> 00:15:42.080 just just google that term and the light bulb and 323 00:15:42.279 --> 00:15:43.679 you will go down a rabbit hole. 324 00:15:44.559 --> 00:15:45.679 But all right, my friend. 325 00:15:45.720 --> 00:15:47.679 Always good to talk to you, Joel, and I really 326 00:15:47.679 --> 00:15:49.960 do enjoy the show and all the wisdom you guys 327 00:15:50.000 --> 00:15:51.879 throw out in a fun way. You and Matt so 328 00:15:52.080 --> 00:15:55.080 a host of how to Money Sunday Noon to two. 329 00:15:55.759 --> 00:15:58.240 How To Money Joel is where you can find them 330 00:15:58.279 --> 00:16:00.679 on the socials there. Thanks buddyreciate you. 331 00:16:00.759 --> 00:16:02.879 Appreciate you. To Neil, thanks, we'll talk again soon.