Transcript of Episode 120 - Financial Independence Retirement
Click to read the episode transcription below.
This transcription was generated using YouTube's voice to text captioning method. Hopefully, Speech-To-Text technology will become more accurate in the future.
If you landed here randomly, have a look around. Thanks for the visit.
00:00:04| we've all got it folks credit card debt car debt student loan debt up to our eyeballs debt finances are just a friggin mess well we're going to talk about them with you with the one
00:00:18| man who has no financial problems join us so I'm Dan and I'm Nick folks for old friends dissecting one topic at a time people technology media we've got it all
00:00:33| covered each discussion here is a deep dive in or unique perspective taboo forbidden subjects they're all on the chopping block baby we don't pander to popular opinion the mic you can get a
00:00:47| little bit dirty morning this pot can contain mature language and sexual content and this for entertainment purposes only so join us have a good time open up your earholes
00:01:00| [Music] another installment of this is Dan this is Nick we are discussing on top of here everyone is involved with everyone money debt money debt financial finances um
00:01:33| she's planning for your future yeah that's what we're all doing here she said do you want to go first or should I go first about where we're at where we were how he came here how he came to be
00:01:44| I think like a parking lot in the Denny's my mom and my dad yeah this Grand Slam Grand Slam there I am nine months later boom two eggs sunny-side up one big sausage and one
00:01:59| big Sun so now you know where you wanted to start start it's an interesting way to put it so starting out about maybe your career financial outlook how you chose it and
00:02:14| then your earnings ish you want to cover your numbers sure I gotta know if I will let everyone know my numbers yeah because I want to see if there's a financial planner out there who can
00:02:25| figure this out for me okay I think there is it's like the impossible problem okay Copple defense impossible how did you that's not no no scientist I come from
00:02:41| there's another negative side there there are more negative signs how did you have this many negatives so I just went to prestigious high school because they were gonna give me money okay they
00:02:57| so you're your high school easily home stout Sascha mostly careful yeah I was given lots of money okay good I don't know that ice an Arctic I think I miss one I think I was like 98th percentile
00:03:09| annealing 1999 yeah you did hey Pete still got your ap bio enhances the certainly did so like that's a school that prepares you for it's a preparatory school
00:03:22| technically prepping you for a to college in life college yeah maybe not so much life College which is step for life I guess yeah so where did you choose your
00:03:34| college from cuz it went to the same high school spoiler alert I really don't know I had like maybe five or six but they were just like randomly picked it's not like I researched them all and the
00:03:43| like down selected to the one I wanted my mom was but the she took the responsibility of like showing me around so the one that I felt come most comfortable at RIT I went there was that
00:03:57| the closest no we looked at Penn State we looked at a Drexel RPI a lot of engineering schools okay know the vibe you get from engineering schools is weird most of the time yeah I know
00:04:11| Drexel they know RIT Penn State right Penn State well I didn't Penn State was the default but most people went to I guess late was Penn State right everybody that makes them didn't want to
00:04:21| do the default thing he's kind of my style this guy this guy style style points mm-hmm so my tuition was like 20 something grand and I had like an eight
00:04:35| or ten thousand dollar scholarship to go to RIT oh nice yeah so I did decently well and then somewhere in the middle I started making money from internships and I was okay
00:04:46| I was also subsidized by my parents a bit so did you take it to do um did you have to take out a loan through like the school or whatever yeah I don't know what type of loan I had there's like
00:04:58| Stafford line did your FAFSA right right but did you take out extra to cover like housing or meal plans or living expenses or not really it was just tuition mmm it was I don't remember how it broke down
00:05:10| but I didn't have to take out extra it was like ended up being like fifteen thousand a semester or something earlier a year yeah it's a K a semester so like sixteen thousand a year yeah that makes
00:05:22| up and then at the end of it my parents paid off a majority of it so they left me with like 10 grand to pay off student loan debt so I was at an advantage compared to most people and I
00:05:33| acknowledge it true hey you can't can't feel bad about having like a head start in the race to be like I'm gonna finish well privilege hmm it can't I don't know how many people
00:05:44| just like oh god what a bastard yeah people who do have a leg up and if you don't take advantage of you're an [ __ ] too huh you imagine if you were given that you're like no thanks
00:05:54| no thank you so okay yeah and you I was given money to Penn State in LaSalle College mmm not full rides but like you know partial hmm and the only other school I applied to was University of
00:06:09| Delaware and it was the prettiest school and that's why you begged it prettiest because in the architecture my way do they have Trabant architect the architect er was really cool the campus
00:06:22| was gorgeous the women were beautiful Oh God flowing everywhere like in between periods she could see a mass of gorgeous bonafide delawarians women no mostly had a state and stuff actually yell out PA
00:06:41| like Jersey lot Delaware a lot of slower lower but anyway I picked Delaware lower and lower around yeah I'm finished with you know um once you hit Dover you get into this house uh and there it's like
00:06:54| the south of telephoto it's the south so if you go to South Delaware you'd be like are we Louisiana let's go look around the bait shop and like this and everybody talking funny and you're like
00:07:04| what is important doing and they're like we got mud dippin for skipping for fun and you're like I don't know any of the words minute sense what are you guys actually doing well we get back into my
00:07:15| friend's truck and we have some gasoline and we go and we go in the mud and I'm like I don't know that's the thing and they're like where are you from I'm like just just a little
00:07:24| bit north than ours but yeah I know people like that that we're only like half an hour drive from University of Delaware that's baffling it okay but that's where the South starts trust me
00:07:36| it's in Delaware around the Midway mark Rison take side it is it's in Delaware so I went there and I had to take out loans because my parents didn't have any money for me
00:07:48| unprivileged mm-hmm so I think it was like 15 grand a year but I would take out like I had no way of paying for my food plans housing money to buy stuff and then when
00:08:06| I lived off campus it was even more August not more because I guess like a figured room and bored into the other ones but anyway um all in all I probably got close to 80 $90,000 in debt I think
00:08:19| okay after four years that's about right yeah four years then I completed in four years graduated shoutout do you know what percentage your dear loans were at five and what one was if I had like
00:08:32| literally eight different loans because I had to apply for them each semester that's not confusing for like a 20 year old no I wasn't 21 I was 18 I was signing up for like twenty thousand
00:08:42| dollar loans from companies I'd never heard of that do you want fixed unfixed this rate a variable rate this this student federal they're like 19 words they withdraw you know I was just like
00:08:54| whatever I can go to school on this you know got to go to school so I will tell you I've graduated in oh seven seventeen within ten years on down to two loans because they've
00:09:08| been subsidized into two main companies and I can tell you I have three years with one in five years with another still so I will be when every student loan is done and paid for thirty-nine
00:09:22| you how sad is that twenty years later yeah that's really sad that table weight with me so we signed upward at nineteen and I'll be done by 38 ish right yeah that's that's wild that's really sad
00:09:35| like servitude that's really sad yeah done let's wait the wait slave right yes it is yes is your head anyway I also I was a bio major but I really couldn't didn't wanted to bio for the
00:09:49| rest of my life so you stopped divided stop doing bio when it's midway or no sophomore year midway through or either at the halfway point or at the end of my sophomore year and I used all those
00:10:02| classes as electives and then I put all the rest of my time and other stuff huh so I also switched but I switched from an inch I went from computer engineering to
00:10:11| electrical engineering with biomedical electrical because way more friendly niggy because the biomed part had biology click biology classes with a lot of women in it and I was like oh just to
00:10:23| hear them all chattering in like giant auditorium I'm like I have been missing this as a software engineer we did good old boy school it does yeah it does yeah makes you a horndog makes you really
00:10:36| focused on it yeah yes I don't know what I was thinking not going to a school that had like Penn State a lot more women it would have had a lot more women it would've been different for your life
00:10:49| but you know so I've been just I'm gonna type in your numbers and spreadsheet here go ahead figured I could be wrong dude because those were some confusing shits but good okay so I think that
00:11:01| you've been paying what like six thousand a year maybe somewhere in that ballpark maybe seventh uh I can tell you what I pay a month so that's gonna one company takes 390 but that's this is
00:11:13| with interest and the other company takes like 160 and I've been doing this for like I don't know like 15 years okay and I used to have a little bit more just 390 and 160 yeah the 551 my
00:11:27| calculation was 580 a month it could be it could be din 580 because I also paid off one or two lungs in this 15-year span okay okay so you're down seven grand a year like oh and then you took
00:11:40| English graduate with English yes I did and then you I'm a journalist yes and then you work for your for your dad's company yeah yeah my college about what 35 to 40
00:11:54| ish in that range probably 35 of [ __ ] in minimum living probably costs what 25 grand I'd how do you calculate the living cost read what looks like five grand and food and other entertain here
00:12:11| ah we could do if you I do my finances I'll lay them out right now sure all right so let's say I make 40 grand a year let's just write this job okay you know you're down Salvatore we just
00:12:22| figured out yeah I said what is college loans okay seven grand for college loans my rent is seven thirty a month so figure that times 12 obviously okay my car payment
00:12:38| is 378 so we'll say 380 we around though okay 380 a month uh really all the biggies like cellphone fifty a month I have a deal with my parents mm-hmm I do that too okay good
00:12:56| smart man its money let's say what am I missing the big E's Amazon I pay them like hey I'm not there yet again like Amazon I pay them like 75 a month does utilities all that stuff is folded in it
00:13:10| is in neon which we call although I do pay for my lawnmower over the case of the year that's like 40 bucks a month yeah that doesn't I don't thank coming in okay fine okay fine
00:13:21| credit card minimums I have to pay about accrued it is yeah well that's because you say I was your car payment 380 months yeah 370 something okay and then um
00:13:37| whose will say I probably spend fifty a week there's a 200 month because some weeks I spend like a hundred some weeks I spend like 30 so I'm just like point four month trip or on your mom sure
00:13:55| that's that's a high range but then maybe not lunches and breakfasts and coffee yet and I'm gonna assume your taxes are probably like 10 to 15% maybe did the math
00:14:08| thank-oo and then health insurance we can get though which I have but will be I think it's gonna be 190 a month okay so I'm gonna add incidentals couple grand that might leave you with six
00:14:23| thousand dollars if the end of the year maybe it sounds wrong why cuz you had less than that no because I don't think I had that much to spend I think I'm forgetting something you probably came i
00:14:35| skipped what did you hit let me call me bring up my bring my big ass maybe maybe maybe it's the credit cards did you put the credit cards on there cuz I do have to
00:14:44| pay that but like the credit card debt like you didn't have that when you first started or did you know was getting out of college did because yeah because I had to pay for like my um Geico for that
00:14:53| like my car insurance I don't fact about in my month month it shows up every six months I throw it on there you know that's something I like I never had like I paid for that like
00:15:02| senior year of college is you were paying for it through college so that you had that accrued on credit cards as you were going along probably because I probably didn't tell my parents I was
00:15:13| probably like yeah I got the money for the you know they would probably keep $80 aside so you can pay for your car insurance is probably and then we get a bill for like five hundred eighty bucks
00:15:21| for six months because that's what it is for six months okay oh and and gas gonna do gas yeah I guess I price spent thirty a week travel entertainment beers oh yeah I
00:15:33| forgot about beer alcohol and then I forgot about Netflix and then I forgot about there's gotta be something else so you're thinking anyway so as I hit the acquaintance button calculate your
00:15:58| ended up like negative five hundred bucks a year like somewhere around that yeah it's probably really that's that's realistic holy crap yes that's realistic yeah so anyway how would I fix that um
00:16:08| because also I have a son now yeah I have to spend more stuff on him like his birthday comes up we have to go places he wants lunch like he wants a game he wants this yeah he he's still airing
00:16:19| things you want to provide for him there's light at the end of the tunnel but I'll relay what I my situation so graduated an engineering degree my first job was in the city I didn't want making
00:16:33| fifty eight thousand dollars and then I moved made sixty-two thousand dollars in a location that I wanted to be in for a job that lasted ten years and gave me raises of about three to four percent
00:16:45| and therefore ten years that's so wild it's crazy say a decade I make how many times have we seen you in that time in real life like once or twice it's so wild cuz like we talked every
00:16:56| yeah real like episode and like we've been friends forever it's just weird to think that that I've never smelt your skin the oils they perman a permeate your body mmm you're losing organ sack
00:17:09| just perfuses through the air and I could pick you out of a crowd let's say so in the beginning I guess in the first one or two years I bought a house and my finances were really tight because I
00:17:26| bought a house about a car reasonable but a little bit better than the bare minimum new car new house and how are you driving in I remember Sonata Hyundai Sonata Lazzaro wise mm-hmm it's such a
00:17:41| woman car mmm what color is it silver there get a new car so they go yeah I paid it off in five years there's a zero percent Interest for 60 months or whatever did you get 0% although my dad
00:18:01| got 0% I was like you're a son of a [ __ ] I got like this mine's low it's like 3.8 percent but I was like come on this is um also a hack that my parents did when I was a teenager they put me on
00:18:14| their credit card as an authorized user which sure makes their credit seem like my credit so by the time I got out of college I had a credit rating that was like 800 something and it looked like I
00:18:28| had been using credit for this isn't there because I have had a credit card forever but have you been hanging off yeah my credit scores like 826 Oh finally but it also is like a load it's
00:18:42| well hold on my credit isn't good my credit score is amazing yes so if I applied for something new like I can't get a Cole's car this is exactly what I yeah okay cool I apply for a Kohl's card
00:18:56| I literally get rejected and I know it'll happen but there's a little bit of a hack here too you apply for the Coast Guard to give you done this so I apply and I know that I
00:19:07| know that they're like oh sorry sir you get income ratios yeah so the credit cards do it by age and they also do it by regular payments if you pay it off pay off the minimum
00:19:22| and premiss them yeah nevertheless the payment but they also do it by like whether you're going to be positive or negative and then revolving credit so like the total amount of credit that you
00:19:32| have versus how much you continually have each month that's probably what's hurting you it probably has been the past six months the most ridiculous part of that is that
00:19:43| because you can't get good credit they're gonna hit you with more fees and interest and make you pay more money so when I was applying for a new job I said I want to take all my student debt I
00:19:56| haven't missed a payment in fifteen years whatever the hell wasn't I brought it to Citizens Bank I've been with Citizens Bank since I was like 2004 uh-huh it was in 18 at the time I said
00:20:08| hey you guys have a student loan program I want to roll it all into one single payment lower my payment to a five-year plan they um they looked at it and said wow yeah you haven't missed a payment
00:20:20| you have great credit follow Allah and it kept saying oh there's a hold up there's a hold up and I was like what is it I was like I pay a lot it's like 550 where were we just figured out a month I
00:20:30| was like I was hoping to go down like four four hundred and I'll pay it off I break credit I'm with you guys forever they were like oh really sorry you can't afford to get your payment's lowered oh
00:20:42| damn it Oh and it was just the worst feeling in the world and I was like so I don't make enough money but I haven't missed a payment so I have to keep paying more and make my timely payments
00:20:55| which I do regret it was excuse me sir can you just lean forward we're not going to touch that with a pole if it's like okay please take your debt with you you drop something it's your debt yeah
00:21:16| it's huge I can't lift it myself you're gonna have to we need to help staff we need the janitor where's the damn janitor and he can lift this debt yeah it's it's a shitty way to go yeah that's
00:21:34| life so I recall it being pretty slim like I always converted to a Roth IRA I don't know what that is I will go over those and once we get to the gold light at the end of the tunnel and then get a
00:21:47| light 401k so retirement savings I was putting a little away that's something that people like getting it too much yes you're gonna vest you're gonna be
00:22:00| allowed to put money into it we should i yes no should i yet but we'll talk about that wait till I'm out of debt perks right so it was weird because I was
00:22:09| juggling buying a house buy a car and then I in your future girlfriend slash wife at the time was maybe working and she was like off and on and she's probably making like 25 grand like she
00:22:23| wasn't making very much at all so like I was not supporting her because she wage break even when a minimum wage go to about that it was like seven something bucks I think at the time like 700 di so
00:22:36| time is 2000 what is that that's like $15,000 a year minimum wage I always think it's a 17 so yeah that make sense we all double check my math yeah I mean no no no I was thinking 17:5 was what
00:22:51| minimum wage but you're talking about a different time so yeah yeah it was about a little bit above 15k and she was um educated too she had a master's which is bizarre which is the Great Recession
00:23:05| which is well also another time period we should talk about because jobs for people were non-existent back this is all hilarious yes you got so Great Recession for
00:23:17| people who didn't have I guess a functional degree like a degree that was in demand you were left kind of treading water looking for anything that you take sure
00:23:28| did you apply to any jobs that were maybe a higher-paying that could be in the newspaper industry which I hear is booming right now it literally was the the pinnacle it had been two years later
00:23:43| I would not have switched to journalism but at a time I loved sports like all my favorite I knew my favorite writers like Bill Fleischman all these guys I was like I could be a Flyers beat writer
00:23:53| like that would be even if I don't make as much as like a bio whatever like this would be really cool anyway about two years later that whole industry took a [ __ ] yeah huge the biggest [ __ ] then I
00:24:04| iya the writing was on the wall so it's not like it was a surprise but it poured hoped for someone who is middle aged that looking back it's understandable but at the time the internet was still
00:24:16| something that you didn't even like Google was like something you're like okay what search engine do I use you're like what's this Google like people were still trying to oh girl
00:24:24| yeah like oh he's a dope I asked Jeeves like those chefs Jeeves 27 spiders that one I hunt even think mama like holy good yeah and so you had a lot of options and I guess it wasn't very
00:24:39| obvious because you couldn't really get your information online and have it be a reliable at a time I was a senior I was like don't you seem good but I'm one out here yeah doesn't seem good
00:24:50| you got you got looked get railed yeah a little bit and hard yeah long very long mm-hmm so so you're you're with majors like my own yeah you're about break even you're not gaining you're not moving
00:25:06| towards not even solvency if you're not above if not positive then you're insolvent you'll eventually you'll go broke be a debt sure and your I guess your saving grace at the moment
00:25:21| financially was that you found somebody that was willing to split the bills with you a little bit a little bit you're talking to your 7:30 was a split bill to begin with
00:25:32| oh yeah that's that three-way split [ __ ] so if you were alone you'd be completely I wouldn't rent this yeah but still 730 is a single like in a that's also the scale of like living
00:25:46| alone versus living with three people it's like the cost is not right how much more does correct so you would have paid probably like 800 my first apartment was ap right
00:25:57| area so think of this could you have done the 850 paying like five hundred and fifty a month extra with student loans no I don't I don't think I could have because my my margins were like
00:26:12| five or ten grand like it was very slim I would have had like no emergency money whatsoever oh yeah anyway keep going okay so that's I'm wired yeah your your perspective is completely different than
00:26:29| mine so this is good is the name we always we always knew it was but I yeah so I guess your your credit card debt is probably the same debt that you've had for 10 years roughly it probably gets
00:26:43| like a five hundred to a thousand dollars more a year it's been growing oh yeah a little bit I mean it probably was six thousand now it's probably close to ten down so at
00:26:53| what percentage do you pay off your like is your credit card debt what is it 12% so if you have ten thousand year roughly it might be down to eight it might be at ten five so you're paying that a rough
00:27:08| thousand twelve hundred dollars a year just in interest probably but how else am I gonna get my Geico paid how else am I gonna owe my kid needs his medicine woven oh this is the scary part yeah
00:27:20| it's like medical stuff that is absolutely necessary it's like you couldn't pay what pay that if you if you were further insolvent like if you were unable to get a car insurance like you'd
00:27:34| have to scale back and then your job without only pay less anywhere yeah I mean be minimum wage guaranteed without a chance to go elsewhere correct which is why I think a lot of people move to
00:27:47| the city because the city provides a lot for you in infrastructure nation easier to you know it provides a possibility to get out but I don't know that it
00:27:56| actually does so this is the rap I don't even know if this is the rat race this is like getting stomped into erekle some sort of the circle yeah circle jerk yeah the man just
00:28:08| reaches down and he decides good news for me is that by the time this episode airs I will be making at least 45 grand a year plus commissions so you were
00:28:18| scaling up I will be literally in the positive $400 a year hmm you know I'm gonna do with that money spread out over 52 weeks and spend it nice so how much do you get per per
00:28:33| week doing the math on that on up you want to know what's 50 what's 50 into yeah well $40 I've added by 52 8 trucks a week load damn hits 8 bucks a week damn it that's like going well came in
00:28:59| fast food this so yeah but now I can do it without getting any debt that's true I can get fat again it's about time to get fat again so my whole thing is I I'm very analytical and very planning boy
00:29:13| scout prepare yourself and my first job sucked and I did a little bit of like planning try to like project where I would be because I didn't know how much she could make and then my second job
00:29:27| was good so I kept it for 10 years but it also had a lot of downtime so I created these crazy spreadsheets and then I got into like financially independent retire early ideas or money
00:29:41| glider dot-com money clatters dramatic if that website is inactive but I would like to add more story to it there's actually people looking at it there are people saying thanks for writing this
00:29:55| sound like it's weird to write a story and then three late three years later have so many years later I would say thanks thanks well here's the weird part when do you respond and you're welcome
00:30:06| no I'm years later well do you have to do like a equal time spent like space the times equally I set a reminder to thank them in two years or do you thank them like immediately and that's weird
00:30:17| yeah I don't know it only cost 12 bucks to keep that website active so I'm just gonna keep it open forever I'm gonna maybe come back to it when I'm like 50 and be like hey I wrote this when I was
00:30:26| little a little bit little little that you called yourself a little because I'm getting a really muscular and Jack yeah I think we know which direction you're going buddy I'm getting jacked so jacked
00:30:42| off at $8 what are you gonna do with it you're gonna buy fast food so the whole oublie I'm hoping to get that the whole fire thing is like you save a bunch of money by like gaming the system house
00:30:53| hacking loom a lot of people you try to like reduce what you spend but you also that's the reducing what you spend is is hard and it stresses people out it is the other side of it there's another
00:31:04| boner here's an well you're right her anymore is one thing but not everyone that's the harder one people say make more money that one's tougher yeah it was a cutting
00:31:15| cost that's tough but it's not impossible what if your spouse or other is a spend holic and you have to just try and keep up with them is that the case with you
00:31:26| she makes more money than you right there's roughly two and a half times as much and spends all of it and I have to drag my feet on the ground at 60 miles an hour just to try and buy that party
00:31:39| tray for 30 bucks that we didn't probably need but we have to bring to the party and then a gift for so-and-so that costs so-and-so and I didn't think we needed to do that and then oh we
00:31:49| should have the people over but if around people over I gotta buy a case of beer I have to buy food when were d'oeuvres I have to buy extra burgers and then let's get steak yeah great idea
00:32:01| who can put a price on that yeah this like a thing 12 bucks right there Thanks there's my eight bucks yeah that's negative four dollars for the week it just went take ative for
00:32:13| even though I made more money so holy [ __ ] so uh there's two key differences and between you and me is a I don't think I could put up with that well I would just say I can't no and then be
00:32:27| the you're more of a party person an extrovert whereas trope I and my wife or not we so we will do you guys who do you have down there we have like random friends that
00:32:39| aren't that close to us like there we have some friends Ian like one three four weeks or like yeah you're like kind of probably like maybe we hang out with friends like once every two months like
00:32:51| really honestly Dan you're lucky you don't want to see people extrovert and I hate people I love having employees and if they come over I will laugh and have fun and drink
00:33:02| with them and tell them stories and regale them with tales but honestly I don't want to because it costs money it's time-consuming it's I'm spending money not making money I'm just yeah my
00:33:15| biggest spending on my hobbies is playing hockey and that's like 20 bucks a game I please to play two games a week says 40 tons like two grand a year just in hockey and then equipment probably
00:33:28| cost like 500 bucks so I felt first sharpen your skates I would sharpen them whenever they were a little dull Oh that'd probably be like every two months oh yeah a bit it's a reasonable well no
00:33:46| that's good so thanks other you say yeah it doesn't wear your skates sounds much no I know that's that's not good considering what you just said I thought you're gonna say once a year is you can
00:33:57| get away with it don't really hmm I'm I think I will now and I'm playing once a week but that's sort of spending like I was like borderline so there's another caveat is that people save money
00:34:08| and they try to live this like fire fire lifestyle and financially independent hourly lifestyle and they do the bare minimum like they do they cut their set them they enjoyment they cut everything
00:34:19| about the peace or to literally wool penny pinch every dollar never go out to dinner they will not spend a dime on anything you will not get anything unless it's
00:34:28| your birthday or Christmas we will not spend any money bake yeah we're gonna do an all-inclusive where we pay for everything before we go and that's it we're trying to save money
00:34:38| for our future there are people like that right yeah where's your skates and motors all right kind of little eaters yeah no no yeah they're they're out misers my serger heat miser cold miser
00:34:58| miser am i ASCII art I see uh what were they called it was fire financially independent retire early okay thank you oh yeah I mean they tell you how to game it so like you eat like peanut butter
00:35:13| and jelly like you can invite and rephrase it and then like if you want soup you just like buy lentils and put them in water and like eat them later it's like the meals can be like $0.10
00:35:24| meals and they're disgusting misses and this is a person who's probably making and they're literally pinching their pennies maximizing the financial aspect of their life which I have a sad story
00:35:39| to tell you all I have to do it so in our industry before I started here a rival competitor friendly competitor and the Kensington area and used to sell paper towels and toilet paper and stuff
00:35:53| and he would mark it up crazy and um it's a cash business he would take like $2,000 a week out of the business and say hey you got to put this away I'm just put it pack it in his house not
00:36:08| touch it or goals nothing has nothing to do with his business nothing to do with what he pays himself every week this is just money he stores away for a rainy day
00:36:17| okay he would do this for what 20 years and go to the local Inn everywhere and then pay everyone their tip you know what he tipped $1 per person ha ha so if you had four people the four dollar tip
00:36:37| sweetheart but ting he was extremely cheap he made money hand over he literally died and left his son millions of dollars so he's a $2,000 a
00:36:52| month he would sick a week a week a week holy Shh King Paschal and that probably wasn't recorded by the gun I like how I it they like it lagged a little bit so when you said government
00:37:06| has a Grier Andy I think no I said go that's funny that it like there so this individual left all this money to his son okay uh-huh free money his son goes apeshit and
00:37:21| spends it all please tell me that happened sort of so his son didn't know he was gonna get this money he's working in the same business kind of sweating and doing
00:37:29| regular guy stuff uh-huh finds out he's got millions of dollars okay now he's 48 guess what retire and early starts traveling he goes on vacation six weeks a year okay nice he's had daughters who
00:37:50| are kind of lazy and have everything no okay classics are generational well what happens that's what happens so he takes care of all their bills they had kids he's taking care of them he's paying
00:38:02| everyone here but he's you know he's still trying to be tight with the drawstrings you know he was trying to whatever um he recently was diagnosed with pancreatic cancer um it's a fast
00:38:13| one she's a bad one yeah he's still going on vacation still doing his therapy and still paying for his daughter's housing and everything else it's weird that he's probably gonna
00:38:29| leave them plenty of money for them to live their lives off I I'm not saying he's gonna die but it's because I know the guy personally I don't wanna watch this episode no I'm talking about him
00:38:43| but pancreatic cancer is bad and last I heard there was a relapse they have to redo something they want him to come in and get more chemo huh in a way he's living his best life he's spending it on
00:38:57| Nicholas meals ridiculous trips everything he just spent in a [ __ ] out of it and I can't blame him yeah what else can you do with it I mean we're just women misers the people who hoard
00:39:09| it you can only do so much when you work like who are you saving it for that's true as you're expecting to live a certain life and if you are so my point was that if you're a miser and you're
00:39:20| not taking care of yourself your health if you're not exercising like you don't join a gym or play hockey like I did then your health could be degraded so spending two grand on hockey ensures
00:39:33| that my life will be extended enough that I can enjoy the money that I am saving so it's a reasonable expense if I can talk to the Li you plane and get footage of one of your games I won't
00:39:46| post it on here and we will see if this extends your life we will all judge it well look at insight not hustling after that puck that's sharp and skates yeah so there there was a period in the
00:40:01| beginning when I was making just enough to cover all my expenses and put a little in retirement and in that period I learned a lot of good traits because I was budgeting everything I didn't giant
00:40:13| spreadsheet I could see where I was spending my money and I could see things your spreadsheet no psych 12 sheets or something it had projections down to the week like
00:40:24| I could tell how much money I was over or under for the year based on like one paycheck I was like oh I got a cut back so part of that was also learning like credit card hacks like having being an
00:40:38| authorized user of my parents but also the rewards credit and rewards checking accounts so like the rewards through the credit cards you could sign up for credit cards meet a certain somebody no
00:40:48| the attack I know this hack yeah it's five hundred a thousand bucks so I wouldn't do once I bought my house I would pay the property taxes with my credit cards and
00:40:57| every year I get 100 thousand bucks you know yeah and made off because I didn't I had the cash sitting around so it was built up most people's mortgages have the property tax bolted into the
00:41:08| mortgage payment and when I bought my house I said I don't want that oh and you were thinking yeah because I could do that myself and make 500 bucks on it so I was one of the
00:41:19| hacks and then rewards checking accounts you can get four or five percent in the money that you have in a checking account based on meeting certain requirements they're usually like
00:41:30| transferring money into the account and then using their card like X number of times it's like ten or twelve times so that's not that hard at all so I have a decent amount of money sitting in those
00:41:43| type of accounts that makes me feel comfortable that it's not losing value because inflation is about two-and-a-half to three percent depending on the month and it's above
00:41:55| that so I'm gaining money on inflation by having money there I have a hack for all the poor people yeah so if you're doing your whole thing and like a year goes by and whatever and all of a sudden
00:42:09| you thought the car payment went through but really the next check that went in took like an extra two business days balance and you everything bounces call them up right away
00:42:19| in fact hit up Citizens Bank on the old Twitter but you're like hey what's going on man something's wrong with you your account calm up say you haven't had a problem
00:42:28| you haven't been a negative your entire career that year and they'll say hey can you refund me that bounced and they'll say yeah absolutely here you go you now you have 17 dollars
00:42:41| in your checking and you go yes 17 bucks boom can really feel that dose mom so but you can do that once a year so Ellie did you know that I'd have fought it's funny because I do the same things even
00:42:57| though I'm not poor oh I'm a miser if I if I were to have a check bounced or there's some fee or it's like you're not meeting the minimum X number of dollars who makes a checking account that
00:43:12| requires $1,500 or you get charged money do you have a free checking yeah as long as I don't have to do two deposits a month and pray to God and don't curse yes there's a lot there's a
00:43:28| lot of rules where some thigh highs underneath your regular pants I'll do it yeah I mean how much is in that a lot the man is just a different man this time around want you to dress it down a
00:43:43| man man knows so the whole reason for this talk is that last time I think you mentioned that you're in a position where you're like you've had a couple jobs and now you're on a job where it
00:43:58| could project out to make a lot more money because you're kind of what they call a Oh an associate or like your intern or not an intern with all those junior sales yeah you junior sales so
00:44:09| like so if it scales up like they say 33 months as the past ten people have done average of ten people uh hundred grand yeah whoa ho hundred grand would change my little life you know I think it would
00:44:26| and I wouldn't have to work Saturday and Sunday or nights to do it sir and he went nope I said I wouldn't have to suck any you know what he said well a few I said but are you sure I can get
00:44:42| there you said yeah just stick with it okay so I've been practicing my moves I'm gonna do the whole pepper grinder yeah yeah you're probably there's good but if
00:44:54| I did that even for a year if I could get rid of a bunch of my debts yeah you gain a thousand dollars by paying off to ten thousand that you haven't debt yeah and then my other debt and my other debt
00:45:10| and my student loan debt and I'm on a car payment car payment will be gone in your horizon is is coming quickly the Sun is rising if I can survive yes as you can survive so you're at a turning
00:45:29| point and I'm not sure that you've ever had financial insight or like planning or retirement or any of that stuff so you're in a job that is a full-time 401
00:45:42| K to 4% nice good job they do profit sharing at the end of the year my old job is only 3 percent and profit sharing is pretty good I don't have profit sharing and so
00:45:54| you might actually come out ahead in a very short timeframe because now you have insurance health insurance as well I don't have it yet and I have will hide it if I can afford it but you have to
00:46:06| take it because of the risk at least the minimum so this starts our discussion okay here we go they feel risk moves let's do it this is grown-up jobs your wheelhouse
00:46:16| come on do this yeah you want to talk risk you want minimum so you want to do it yeah so for certain periods of my life we took like the full insurance but I don't think that's the best choice to
00:46:26| make like the full insurance is the insurance that cost the most but has a lower deductible and then covers more hold on you make more than me you have some nice
00:46:37| insurance packages that's good a nice insurance package for your full family cost you a month um let's ground $300 and the expenses are limited to maybe like 3 grand a year out of pocket a
00:46:51| doubler no no the deductibles lower than that but it's like it really caps out so like mine is that I my company has a Cadillac plans which are like once you hit a certain number you don't pay
00:47:03| anything at all so yeah it it can you put me on my plan on your plan I'll adopt you as my nephew or something dependent yeah you throw an old zero next to my name I would love to do that
00:47:20| just to [ __ ] the government because of like the idea of like who your family is and like how you have to like be related to somebody to give them a G ever seen the others or a family yeah how many
00:47:34| podcast does it make to make a family hundred one hundred yeah like obviously well over a hundred sir well over a hundred but anyway god yeah we we don't do that one because of the way
00:47:45| insurance works you pay upfront a lot of money and then in the backend you pay a little bit or you can just say you know I don't want to do that because health insurance is a giant [ __ ] scam you
00:47:57| can use your episode your episode folks future episode with yes so I do the high deductible plan which they actually pay me money to take that and then you can also have a high health savings account
00:48:14| so you can put seven thousand dollars into the health savings account a year this herd so know how this works I've heard about this good so that actually reduces your taxable
00:48:26| income by seven thousand so you save your Europe life you have their slates so long you have to put seven thousand into it yeah but you get to keep that it's not like a flex spending yeah I
00:48:38| understand but but you I won't have that every week right yes you won't have that every week but you can put that into investment hey I'm putting less way to put it where you can invest that money
00:48:51| as you see fit so it's an HSPA or whatever the HSA houses yeah sure it's exactly like a 401k but it's expected to be used for medical expenses okay so if you have a medical expense
00:49:07| you could just write yourself a check from the HSA and pay off the medical expense or here's this money coming from every time like check comes out I can put like $39 or eight nine dollars into
00:49:18| an account somewhere I like your random numbers every week in a hundred thirty five bucks okay but it's for every learner just for me here for this plane it is tagged to you so
00:49:34| it's your health savings account okay and the key there is that you don't pay tax on if you don't know when it comes out you don't pay tax on it so it's doubly tax advantaged that's kind of
00:49:46| cool I understand what you're saying is then I don't get taxed on this money car at all yeah and most people don't spend the money that they have in their health savings account because they can make it
00:49:56| grow and then once they hit a certain age they can start using it for a variety of things hmm so they'd rather spend tax money on
00:50:06| medical bills until a point where maybe you don't have enough money but you can use your old medical bills to pull money from from your HSA so if ever you're in trouble
00:50:16| save the bills that you've had for your previous surgeries maybe a leg injury some so maybe is C in your past you can you can take that bill and say I would like to use my HSA now
00:50:28| yeah nice thing getting kind of chalky like reveal at 1,000 thank you bill [Laughter] so you can use that it's you're safe you're safe with having that as an HSA
00:50:46| even if you're at risk of losing your job because you can always pull money out of it if you have a medical issue or have had medical issues at any time in the past so I highly suggest that and
00:50:58| that's something I didn't really know I didn't really understand it until maybe a few years ago and then I started having babies so the babies made it so that it wasn't so smart to be on they
00:51:07| ain't just the high deductible plan because it would be the max which then depends it's in the weird region of confusion interesting you've got this graph here and there's this middle area
00:51:21| that's just confusing I'm gonna ignore that part so you've got that going for you and I suggest you do that thanks I think well yeah and 401 K Roth IRA Roth re I
00:51:38| don't know what you've done there so 401 K is it reduces your tax taxable income it's the same thing as don't you say yes it does so you get to save 15% on that right yep yeah big government anyway
00:51:53| guys really sorry yeah 4% like I said I like gross yeah pre-tax income that grows over time and then once you want to take it out compounding interest well of course of
00:52:04| course of course so hold on so how does it behoove you when should you take out a 401 K well when I guess whenever you want to retire after a certain point there are
00:52:15| no penalties but there's also ways you can take money out of your 401k there's something called a 72 T which means that you can prima nocta ya sub to substantially equal periodic payments
00:52:35| which means like if you have enough money to retire when you're 50 you can just say I want to take out this amount of money indefinitely all right I think it's like five years whatever and
00:52:44| they'll allow you to take money out without penalty otherwise there's like a ten percent penalty and other garbage it what if you wait til in like 61 hit 69 and a half that has no penalty damn
00:52:55| oh no wait 59 half sorry yeah hell yeah that's what I'm talking about interesting yeah so that's one option no matter no matter where your 401k started or how I grow or
00:53:08| whatever where it's from it's like hey sixty I can get it yeah pretty much okay answer so you still pay tax on it regular tax yeah whatever you're any company is at at the time so this is one
00:53:22| thing that I didn't get fully or I was in like a band where it didn't matter how much I did it so I did it uh uh yeah tax band so okay sorry I thought you were in a band a band we [ __ ] so there's
00:53:35| I should have saved more in my 401k but it still turned out okay and I didn't think that I needed to gain the system but I could have more but again being free money the percentage right yeah I
00:53:48| think I was contributing like maybe ten or twelve grand every year which was good but at the max was like sixteen or eighteen so I could have done better but I don't think I realized the scheme of
00:54:02| like how you can screw the government out of their own money but also I don't know how much money I'll have when I retire so that might actually be taxed not.we negligible yeah
00:54:14| so the Roth is what is advantage you know Roth you never heard that term before now good you keep going on that's why I mean you know is paying attention Lancer this
00:54:25| is the one thing I'd never heard of a Roth is post-tax income so it's regular money you can put it in there up to six thousand dollars a year and then that will grow with compound interest you put
00:54:36| it in the market and then when you take it out you don't pay any tax on it yeah oh yeah my man yeah so if you were able to do that and then I'm adding a lot of money you could then pull that money out
00:54:50| without being taxed which helps you choose how much to be taxed in the future using compound me daddy compound me yes that's awesome I mean right now I couldn't put more than a
00:55:09| dollar but would they accept the dollar and Roth IRA yes they were I believe they would I know there's no fly there are no fees associated with doing these things
00:55:19| there's also methods in the fire community to do it so that you can put more than six thousand dollars in but they're very thin bein illegal it's illegal it's not illegal it's sexually
00:55:31| approved by Congress no it's a proof ISM this is a bill that has been signed like two years ago to say that this legal you can over contribute to a 401 K and then if you plan allows for it transfer it
00:55:42| over to the Roth so you can absolutely go it's not I'm gonna say illegal I'm gonna say this approved by the government the government loves this stuff I mean really we're talking about
00:55:57| stuff I can't really worry about right this moment yeah but um this is forecasting so that a lot of people do this like I did this too when I was younger because I didn't have enough
00:56:05| margin to say it's gonna matter like putting an extra thousand dollars it's not gonna matter and eventually you could busy you'll matter
00:56:14| time flies forward you have baby that you come out of a warp I need you're like what the hell just help me and a future relationship where I have a new baby with a new woman and how crazy
00:56:26| would that be if I am and you really ship a new baby and by the time this episode drops that would be insane ten years and months from now ten months ago we mentioned it anyway be
00:56:39| good know that you're gonna cover a time warp and then it will matter and you will have looked back and said what did I why didn't i research this stuff when I had the time or you know before I
00:56:49| started making all this money like plan it out so that you know where your money's gonna go and not for you yet because you need to pay off your highest interest debt first obviously most
00:57:00| people don't know that yeah you you're gonna buy that sandwich at Dairy Queen and be like screw that ten grand in credit card debt I'm so used to it now I can handle it man I like take it in the
00:57:16| ass of the but all that twelve twelve hundred dollars okay debt hey good cruel interest so do you feel like you're about to turn the corner you probably don't cuz you're still you
00:57:35| know because I feel like I'm still like a year and a half away here six months twelve months 15 months I do feel like if I stay on this job Pat I'll make enough money where I literally have
00:57:50| money to put places and I think that's the weirdest feeling in the world I've never had money where I'm like hey I can extra money where do we put it why don't I pay down my debt I think that would be
00:58:03| cool because at that point if I did that to five ten times and then did it to another area I think could put money into a savings or something I don't know this sounds rizal right it sounds people
00:58:21| who are absorbing like stay what are you talking about for future and bang I'm like hold on hold on and okay account I don't even talk to I could get 1% interest which is crazy do
00:58:35| you know the UM the interest rates changed um when we were teenagers so there was that grand recession which before that you could get like three or four percent and like a savings it was
00:58:47| insane the amount of money you could save gain is was absurd it just didn't make any % in a bank you literally put your bank in a savings account
00:58:57| and you get 4% per year is a year yeah hey people lookie Weiser our APR I don't know we thought it was probably a py anyway now what's the average savings percent well if you go online
00:59:10| well the shitty ones are like 1% you can go online and get ones that are like 2.2 percent now that I discover now I bet you know how much I made in my um check I have two checking accounts the one is
00:59:23| for danger below dollar country I have like 130 hours in there so sad I made I made a dollar okay that's all right thanks I got a free dough it's a chicken barrel agency right
00:59:48| play the lottery with it don't do that I play the lottery but don't do that I see the people that Hey yeah I do we did yeah we talked about this is a habit of poor people you can't do that well the
01:00:02| habit of poor people is that person that takes tickets out scratches them off while still standing for them oh I know and they're waiting for them to move and there's oh I didn't win and more dollars
01:00:12| sticking them in the machine 6 I'm getting a signal machine an envelope full of 20s you're just like what are you doing not a great decision so we're talking
01:00:22| about the stages here so you're it solvent that's stage zero stage state one is solvency is where you're able to actually meet your final needs I'm hoping to get there your stability is
01:00:34| coming it's when you've paid off your debt and you're neutral and what you're talking about savings accounts that's agency is where you have a choice of where your money goes because you have
01:00:45| some like kids about this and then I think maybe you'll be at a security stage when your basic needs are taken care of you feel stable yeah you've got [ __ ] women nah
01:00:59| you could get there you don't do it you gonna do it I actually they're talking about the UM panderers taking off in Chicago yeah yeah I turned off the ad dollars a month
01:01:16| I think our ads were making us like a baja a savings account worth of money so I turned them off and I was like this isn't gonna cover the $12 it costs to run the website by the way it costs $12
01:01:32| to run the website so I'm hoping that somehow it balances out in the end wait you paying $12 for hang glider I think we call it so stage 5 is what Indiana's there's a
01:01:55| period where I will you have the amount of money that will meet your basic needs perpetually so I mean yeah it can support my current standard of living but I'm not there yet I not close to
01:02:12| there actually I feel bad for you yeah it's a weird so what's the throw quote it's a most men live a life of quiet desperation yeah yeah so it's always a goal that people are trying to shoot for
01:02:27| so even though your goal is probably vastly different than mine we both probably feel about the same about where we're at we're both trying to call our way through it and slowly gain and I
01:02:43| feel like this might happen for me like off will you your student loan owe in the next nine years I hope so my student loans we've paid off yeah in your car and you're dead knows all that stars
01:03:05| yeah you'll get it you need to pay that off first okay I would have deferred I think you can do honestly so I you can I thought you could do income too for interest compounds yeah but you
01:03:19| could for your student loans you could have done income dependent paybacks right did you to be you know you had a different kind of loan didn't you yes
01:03:28| you had the non and through the non verbal only one that didn't okay so you're paying off the highest percentage rate first rate you got it absolutely nice so eventually
01:03:39| you'll get there so I'm shooting for the independence phase and I'm hoping for the abundance phase which is stage six it's where you have more money than you know what to do with and then it
01:03:51| compounds and keeps making it so that you can gain more money on your money that you already have o hundred percent and that would be nice you do you think you'll get there do you even like plot
01:04:04| this out to you can you afford Excel yeah Google sheets is that's free you can do you have the Internet can you do that on your phone I know we have a spreadsheet that has our net episode
01:04:15| info in it and I don't see any update so I'm you're gonna have to I haven't paid the internet bill the the only thing I will say to you is you seem more financially with it than I did
01:04:31| right yeah maybe we he look way less tan the night I am sacrificing my body for my current phase of life all right sedentary lifestyle inside a cool office building old menial tasks that's what I
01:04:52| started doing bother makes it automation Oaks you think this is deafening in yeah I think this is done you know this probably oh no no no I'm artists it's like an hour in like 15 minutes only
01:05:08| opposed this you'll get to retirement sometime you don't know when I won't it's gonna be 90 do you remember going to school and having the summer hit the first day of summer where you had
01:05:23| nothing do you had no one to talk to no one that you owed anything to it just summer and you had freedom this is gonna last like nine years and then you're gonna die I thought you said the
01:05:39| expected lifestyle no you know nine years of freedom lasted nine years it felt like Oh after that I felt like it was forever no oh you're talking about the scale of time mm-hmm
01:05:51| don't you want that that moment where you're just free and clear where nothing no one can tell you what to do here's the boss um I felt like it was gonna last nine years and it was over in
01:06:03| probably two and a half months right yeah if something really lasted nine and after years I feel like I would be like this is too long you don't think you could handle it no I think it would be
01:06:17| weird I think even having financial stability and nothing to do I'll put it this way so I looked do anything you wanted though you could do every one that you wanted I worked in the
01:06:32| african-american community of 40 and older a true mm-hmm my last job they all had one thing in common the ones who actually retired gained 80 pounds felt like they were dying their
01:06:52| limbs went out on him I had a guy whose eyes went weird he had blood pressure in his eyes he almost lost his eyes like terrible stuff the ones who didn't have any problems were the ones who retired
01:07:05| careful with them were kept working because you don't have something to wake up to when you don't have something that you report to there's something you need to have structure in your life even if
01:07:19| it's on a smaller scale if you don't and you say I can do anything I have so much money I could just work out every day you're not gonna frickin work out every day are you I think I will I think I
01:07:31| have enough structure woman you never get money six packs in between my video I'm gonna get like I'm gonna get my six pack 1000 I'll be an old ballad I'll be doing the hell we live with a
01:07:46| single neck just doing front to me everything from the thing I'll remember this is like you said it's weird I feel like there's a weird there's a balance between what you want to do what you
01:08:04| will do how much you will do don't you think there'll be a rebirth though you have all this free time you'll eventually be like you lose all the shackles you'll be free to think
01:08:15| about whatever you wanted to be completely recharged you'll be ready to attack whatever you want to do and you'll know what you want to do because you'll be able to do everything and then
01:08:24| be like I like that the moves just just because you're older doesn't mean you know everything like you won't be like huh I know what I want to do you have the opportunity to experience more so
01:08:35| you can choose what the experiences that you want I'm 34 okay when I was 18 I know I am when I was 18 someone said if I give you free time for the rest of your life what would you do
01:08:46| I'd be like plug my booze Oh get drunk with boyfriend's like you know I mean I don't know who the frig knows if you ask me now I'd be like oh no hanging out with my son
01:08:57| blew my booze I mean I had these ideas but your life is a series of doing things if I were told I didn't have to do things I think I would stop doing things
01:09:11| I think I would stop it would stagnate this is the problem with people they stagnate yeah most people do not have a drive to do to create their own schedule and drive their own like you do you stag
01:09:24| me and your body physically responds to it so you don't have to wake up at 5:00 by 6:30 and come home by 4:00 like dude sleep shift you need to wake up and go to sleep you go to sleep at
01:09:38| like 5:00 a.m. and then wake up at like like summer I would do that in summer and it would be amazing but I'd feel it would be releasing bit weird but over time your body gets used to it you don't
01:09:53| know not feel like it's weird it's like no purpose to your life starts messing with you a lot of people talk about this and they say they take menial jobs they do like barista fire which is they
01:10:07| become so then and all of a sudden friggin they start to take jobs that shitty minimum-wage jobs that minimum white people don't need to do because they can't afford it with health
01:10:17| insurance like Starbucks they gave you health insurance or they do like charitable things like the housing was a I don't never done it so that's terrible houses for Humanity
01:10:34| Habitat for Humanity [ __ ] I got that wrong two beers in but maybe through Jean so people do that they find purpose in giving to others because now they're free so there's possibilities there I
01:10:48| guess people don't recognize the possibilities because they're so set in bright idea of what their life will be being active help you yeah keep doing it yeah and the reverse side of this which
01:11:02| is exactly the same is that the people who are going miserly into fire and not enjoying the work that they have now where were you once they retire yeah what will you do that will be enjoyable
01:11:15| like if you didn't find enjoyment in the previous 10 or 20 years of employment what the hell were you doing like you don't enjoy your co-workers like how do you not enjoy people they're not gonna
01:11:25| enjoy the money after the fact yeah because they refused to pay yeah exactly they're not my family this is weird a lot of people choosing not to have kids because they want to save their
01:11:35| money it's like that's after having kids I think that's foolish like that's dumb like kids repay you in like laughter and happiness and so much enjoyment that cost me I think it's do what they said I
01:11:49| hate my kids by the time this episode drops yeah now we might have yeah you might actually have Laura Thoren we're in the rain you're gonna have twins mmm each kid costs a Lamborghini that's why
01:12:08| I'm told I'm gonna Hannah don't have a Lamborghini yeah I could I had to I guess in ten years we get it wrap it up yeah I gotta pee we understand the
01:12:21| dilemmas of the human body so I'm gonna find my littles up almost Zion they want naio or freedom are you trying to say it but you got too close to the damn camera back up from the guy got excited I got
01:12:38| excited a little beat something do you think you would enjoy the beach no I don't I hear people like people say they've made millions in your future
01:12:52| yeah have to say one night millions do you find your Beach yeah yours day wasn't it but it's not necessarily that Beach how long can you spend on the beach
01:13:00| well nude beach should be good gonna be a plus but how long can you until those people came in and then like how much how long could you spend at a beach resort before you're like that's enough
01:13:10| alcohol for me enough food I can't take a cruise longer than a week because it's just feels terrible enjoy vacation like it's like no we gonna hand this man yeah and then you want to go home you want to
01:13:24| feel your the shower your the hot shower of your home your bed mm-hmm your dogs your family your normal life I think most people love their normal life they don't want to admit it to a degree like
01:13:41| how much can you endure freedom yeah like we teen is already built into thirty five years of whatever I've been doing so I don't know like a relationship takes what half as long as
01:13:58| you've been in the relationship to get over it it's like if I guess if the routine is 40 years of routine yeah I'm gonna be 60 by the time I break that routine out of my body before I realized
01:14:11| whatever life will be I don't know that I'll ever really get that routine out of me you might know Brooks didn't get Adam Rick he was here in all of us damn
01:14:29| folks what we're talking about here is ridiculous yeah like what would you do having them died when the lottery no you didn't say that yeah retire early be financially
01:14:41| independent you go through the stages you know cuz you [ __ ] pay off that debt you don't you don't know what to do if you pay off your debt student debt everything credit card library interest
01:14:53| AP y r AP R a P y AV r Oakes does I'm talking to you right now is about life dad intergenerational wealth if you can get there if you can get there hmm this concludes our episode thank you
01:15:17| for the Stan thanks for listening folks we like it a lot just donate on patreon just friggin throw money in whoever you want cuz money doesn't matter you know once
01:15:28| you're high enough you could just glide on down and your money glider afraid money check out the money lighter also real quick I think Carl from Aqua Teen Hunger Force said it best when his
01:15:46| next-door neighbor Meatwad won tickets to the Super Bowl huh and he said I always sort of thought of you as a sort of thing that I can live next door to in accordance with
01:15:59| state laws how many ways trying to get tickets from me twine and I like to like an everyday thing anyway folks we like you we like you a lot good night our socials for
01:16:15| today or morning
00:00:18| man who has no financial problems join us so I'm Dan and I'm Nick folks for old friends dissecting one topic at a time people technology media we've got it all
00:00:33| covered each discussion here is a deep dive in or unique perspective taboo forbidden subjects they're all on the chopping block baby we don't pander to popular opinion the mic you can get a
00:00:47| little bit dirty morning this pot can contain mature language and sexual content and this for entertainment purposes only so join us have a good time open up your earholes
00:01:00| [Music] another installment of this is Dan this is Nick we are discussing on top of here everyone is involved with everyone money debt money debt financial finances um
00:01:33| she's planning for your future yeah that's what we're all doing here she said do you want to go first or should I go first about where we're at where we were how he came here how he came to be
00:01:44| I think like a parking lot in the Denny's my mom and my dad yeah this Grand Slam Grand Slam there I am nine months later boom two eggs sunny-side up one big sausage and one
00:01:59| big Sun so now you know where you wanted to start start it's an interesting way to put it so starting out about maybe your career financial outlook how you chose it and
00:02:14| then your earnings ish you want to cover your numbers sure I gotta know if I will let everyone know my numbers yeah because I want to see if there's a financial planner out there who can
00:02:25| figure this out for me okay I think there is it's like the impossible problem okay Copple defense impossible how did you that's not no no scientist I come from
00:02:41| there's another negative side there there are more negative signs how did you have this many negatives so I just went to prestigious high school because they were gonna give me money okay they
00:02:57| so you're your high school easily home stout Sascha mostly careful yeah I was given lots of money okay good I don't know that ice an Arctic I think I miss one I think I was like 98th percentile
00:03:09| annealing 1999 yeah you did hey Pete still got your ap bio enhances the certainly did so like that's a school that prepares you for it's a preparatory school
00:03:22| technically prepping you for a to college in life college yeah maybe not so much life College which is step for life I guess yeah so where did you choose your
00:03:34| college from cuz it went to the same high school spoiler alert I really don't know I had like maybe five or six but they were just like randomly picked it's not like I researched them all and the
00:03:43| like down selected to the one I wanted my mom was but the she took the responsibility of like showing me around so the one that I felt come most comfortable at RIT I went there was that
00:03:57| the closest no we looked at Penn State we looked at a Drexel RPI a lot of engineering schools okay know the vibe you get from engineering schools is weird most of the time yeah I know
00:04:11| Drexel they know RIT Penn State right Penn State well I didn't Penn State was the default but most people went to I guess late was Penn State right everybody that makes them didn't want to
00:04:21| do the default thing he's kind of my style this guy this guy style style points mm-hmm so my tuition was like 20 something grand and I had like an eight
00:04:35| or ten thousand dollar scholarship to go to RIT oh nice yeah so I did decently well and then somewhere in the middle I started making money from internships and I was okay
00:04:46| I was also subsidized by my parents a bit so did you take it to do um did you have to take out a loan through like the school or whatever yeah I don't know what type of loan I had there's like
00:04:58| Stafford line did your FAFSA right right but did you take out extra to cover like housing or meal plans or living expenses or not really it was just tuition mmm it was I don't remember how it broke down
00:05:10| but I didn't have to take out extra it was like ended up being like fifteen thousand a semester or something earlier a year yeah it's a K a semester so like sixteen thousand a year yeah that makes
00:05:22| up and then at the end of it my parents paid off a majority of it so they left me with like 10 grand to pay off student loan debt so I was at an advantage compared to most people and I
00:05:33| acknowledge it true hey you can't can't feel bad about having like a head start in the race to be like I'm gonna finish well privilege hmm it can't I don't know how many people
00:05:44| just like oh god what a bastard yeah people who do have a leg up and if you don't take advantage of you're an [ __ ] too huh you imagine if you were given that you're like no thanks
00:05:54| no thank you so okay yeah and you I was given money to Penn State in LaSalle College mmm not full rides but like you know partial hmm and the only other school I applied to was University of
00:06:09| Delaware and it was the prettiest school and that's why you begged it prettiest because in the architecture my way do they have Trabant architect the architect er was really cool the campus
00:06:22| was gorgeous the women were beautiful Oh God flowing everywhere like in between periods she could see a mass of gorgeous bonafide delawarians women no mostly had a state and stuff actually yell out PA
00:06:41| like Jersey lot Delaware a lot of slower lower but anyway I picked Delaware lower and lower around yeah I'm finished with you know um once you hit Dover you get into this house uh and there it's like
00:06:54| the south of telephoto it's the south so if you go to South Delaware you'd be like are we Louisiana let's go look around the bait shop and like this and everybody talking funny and you're like
00:07:04| what is important doing and they're like we got mud dippin for skipping for fun and you're like I don't know any of the words minute sense what are you guys actually doing well we get back into my
00:07:15| friend's truck and we have some gasoline and we go and we go in the mud and I'm like I don't know that's the thing and they're like where are you from I'm like just just a little
00:07:24| bit north than ours but yeah I know people like that that we're only like half an hour drive from University of Delaware that's baffling it okay but that's where the South starts trust me
00:07:36| it's in Delaware around the Midway mark Rison take side it is it's in Delaware so I went there and I had to take out loans because my parents didn't have any money for me
00:07:48| unprivileged mm-hmm so I think it was like 15 grand a year but I would take out like I had no way of paying for my food plans housing money to buy stuff and then when
00:08:06| I lived off campus it was even more August not more because I guess like a figured room and bored into the other ones but anyway um all in all I probably got close to 80 $90,000 in debt I think
00:08:19| okay after four years that's about right yeah four years then I completed in four years graduated shoutout do you know what percentage your dear loans were at five and what one was if I had like
00:08:32| literally eight different loans because I had to apply for them each semester that's not confusing for like a 20 year old no I wasn't 21 I was 18 I was signing up for like twenty thousand
00:08:42| dollar loans from companies I'd never heard of that do you want fixed unfixed this rate a variable rate this this student federal they're like 19 words they withdraw you know I was just like
00:08:54| whatever I can go to school on this you know got to go to school so I will tell you I've graduated in oh seven seventeen within ten years on down to two loans because they've
00:09:08| been subsidized into two main companies and I can tell you I have three years with one in five years with another still so I will be when every student loan is done and paid for thirty-nine
00:09:22| you how sad is that twenty years later yeah that's really sad that table weight with me so we signed upward at nineteen and I'll be done by 38 ish right yeah that's that's wild that's really sad
00:09:35| like servitude that's really sad yeah done let's wait the wait slave right yes it is yes is your head anyway I also I was a bio major but I really couldn't didn't wanted to bio for the
00:09:49| rest of my life so you stopped divided stop doing bio when it's midway or no sophomore year midway through or either at the halfway point or at the end of my sophomore year and I used all those
00:10:02| classes as electives and then I put all the rest of my time and other stuff huh so I also switched but I switched from an inch I went from computer engineering to
00:10:11| electrical engineering with biomedical electrical because way more friendly niggy because the biomed part had biology click biology classes with a lot of women in it and I was like oh just to
00:10:23| hear them all chattering in like giant auditorium I'm like I have been missing this as a software engineer we did good old boy school it does yeah it does yeah makes you a horndog makes you really
00:10:36| focused on it yeah yes I don't know what I was thinking not going to a school that had like Penn State a lot more women it would have had a lot more women it would've been different for your life
00:10:49| but you know so I've been just I'm gonna type in your numbers and spreadsheet here go ahead figured I could be wrong dude because those were some confusing shits but good okay so I think that
00:11:01| you've been paying what like six thousand a year maybe somewhere in that ballpark maybe seventh uh I can tell you what I pay a month so that's gonna one company takes 390 but that's this is
00:11:13| with interest and the other company takes like 160 and I've been doing this for like I don't know like 15 years okay and I used to have a little bit more just 390 and 160 yeah the 551 my
00:11:27| calculation was 580 a month it could be it could be din 580 because I also paid off one or two lungs in this 15-year span okay okay so you're down seven grand a year like oh and then you took
00:11:40| English graduate with English yes I did and then you I'm a journalist yes and then you work for your for your dad's company yeah yeah my college about what 35 to 40
00:11:54| ish in that range probably 35 of [ __ ] in minimum living probably costs what 25 grand I'd how do you calculate the living cost read what looks like five grand and food and other entertain here
00:12:11| ah we could do if you I do my finances I'll lay them out right now sure all right so let's say I make 40 grand a year let's just write this job okay you know you're down Salvatore we just
00:12:22| figured out yeah I said what is college loans okay seven grand for college loans my rent is seven thirty a month so figure that times 12 obviously okay my car payment
00:12:38| is 378 so we'll say 380 we around though okay 380 a month uh really all the biggies like cellphone fifty a month I have a deal with my parents mm-hmm I do that too okay good
00:12:56| smart man its money let's say what am I missing the big E's Amazon I pay them like hey I'm not there yet again like Amazon I pay them like 75 a month does utilities all that stuff is folded in it
00:13:10| is in neon which we call although I do pay for my lawnmower over the case of the year that's like 40 bucks a month yeah that doesn't I don't thank coming in okay fine okay fine
00:13:21| credit card minimums I have to pay about accrued it is yeah well that's because you say I was your car payment 380 months yeah 370 something okay and then um
00:13:37| whose will say I probably spend fifty a week there's a 200 month because some weeks I spend like a hundred some weeks I spend like 30 so I'm just like point four month trip or on your mom sure
00:13:55| that's that's a high range but then maybe not lunches and breakfasts and coffee yet and I'm gonna assume your taxes are probably like 10 to 15% maybe did the math
00:14:08| thank-oo and then health insurance we can get though which I have but will be I think it's gonna be 190 a month okay so I'm gonna add incidentals couple grand that might leave you with six
00:14:23| thousand dollars if the end of the year maybe it sounds wrong why cuz you had less than that no because I don't think I had that much to spend I think I'm forgetting something you probably came i
00:14:35| skipped what did you hit let me call me bring up my bring my big ass maybe maybe maybe it's the credit cards did you put the credit cards on there cuz I do have to
00:14:44| pay that but like the credit card debt like you didn't have that when you first started or did you know was getting out of college did because yeah because I had to pay for like my um Geico for that
00:14:53| like my car insurance I don't fact about in my month month it shows up every six months I throw it on there you know that's something I like I never had like I paid for that like
00:15:02| senior year of college is you were paying for it through college so that you had that accrued on credit cards as you were going along probably because I probably didn't tell my parents I was
00:15:13| probably like yeah I got the money for the you know they would probably keep $80 aside so you can pay for your car insurance is probably and then we get a bill for like five hundred eighty bucks
00:15:21| for six months because that's what it is for six months okay oh and and gas gonna do gas yeah I guess I price spent thirty a week travel entertainment beers oh yeah I
00:15:33| forgot about beer alcohol and then I forgot about Netflix and then I forgot about there's gotta be something else so you're thinking anyway so as I hit the acquaintance button calculate your
00:15:58| ended up like negative five hundred bucks a year like somewhere around that yeah it's probably really that's that's realistic holy crap yes that's realistic yeah so anyway how would I fix that um
00:16:08| because also I have a son now yeah I have to spend more stuff on him like his birthday comes up we have to go places he wants lunch like he wants a game he wants this yeah he he's still airing
00:16:19| things you want to provide for him there's light at the end of the tunnel but I'll relay what I my situation so graduated an engineering degree my first job was in the city I didn't want making
00:16:33| fifty eight thousand dollars and then I moved made sixty-two thousand dollars in a location that I wanted to be in for a job that lasted ten years and gave me raises of about three to four percent
00:16:45| and therefore ten years that's so wild it's crazy say a decade I make how many times have we seen you in that time in real life like once or twice it's so wild cuz like we talked every
00:16:56| yeah real like episode and like we've been friends forever it's just weird to think that that I've never smelt your skin the oils they perman a permeate your body mmm you're losing organ sack
00:17:09| just perfuses through the air and I could pick you out of a crowd let's say so in the beginning I guess in the first one or two years I bought a house and my finances were really tight because I
00:17:26| bought a house about a car reasonable but a little bit better than the bare minimum new car new house and how are you driving in I remember Sonata Hyundai Sonata Lazzaro wise mm-hmm it's such a
00:17:41| woman car mmm what color is it silver there get a new car so they go yeah I paid it off in five years there's a zero percent Interest for 60 months or whatever did you get 0% although my dad
00:18:01| got 0% I was like you're a son of a [ __ ] I got like this mine's low it's like 3.8 percent but I was like come on this is um also a hack that my parents did when I was a teenager they put me on
00:18:14| their credit card as an authorized user which sure makes their credit seem like my credit so by the time I got out of college I had a credit rating that was like 800 something and it looked like I
00:18:28| had been using credit for this isn't there because I have had a credit card forever but have you been hanging off yeah my credit scores like 826 Oh finally but it also is like a load it's
00:18:42| well hold on my credit isn't good my credit score is amazing yes so if I applied for something new like I can't get a Cole's car this is exactly what I yeah okay cool I apply for a Kohl's card
00:18:56| I literally get rejected and I know it'll happen but there's a little bit of a hack here too you apply for the Coast Guard to give you done this so I apply and I know that I
00:19:07| know that they're like oh sorry sir you get income ratios yeah so the credit cards do it by age and they also do it by regular payments if you pay it off pay off the minimum
00:19:22| and premiss them yeah nevertheless the payment but they also do it by like whether you're going to be positive or negative and then revolving credit so like the total amount of credit that you
00:19:32| have versus how much you continually have each month that's probably what's hurting you it probably has been the past six months the most ridiculous part of that is that
00:19:43| because you can't get good credit they're gonna hit you with more fees and interest and make you pay more money so when I was applying for a new job I said I want to take all my student debt I
00:19:56| haven't missed a payment in fifteen years whatever the hell wasn't I brought it to Citizens Bank I've been with Citizens Bank since I was like 2004 uh-huh it was in 18 at the time I said
00:20:08| hey you guys have a student loan program I want to roll it all into one single payment lower my payment to a five-year plan they um they looked at it and said wow yeah you haven't missed a payment
00:20:20| you have great credit follow Allah and it kept saying oh there's a hold up there's a hold up and I was like what is it I was like I pay a lot it's like 550 where were we just figured out a month I
00:20:30| was like I was hoping to go down like four four hundred and I'll pay it off I break credit I'm with you guys forever they were like oh really sorry you can't afford to get your payment's lowered oh
00:20:42| damn it Oh and it was just the worst feeling in the world and I was like so I don't make enough money but I haven't missed a payment so I have to keep paying more and make my timely payments
00:20:55| which I do regret it was excuse me sir can you just lean forward we're not going to touch that with a pole if it's like okay please take your debt with you you drop something it's your debt yeah
00:21:16| it's huge I can't lift it myself you're gonna have to we need to help staff we need the janitor where's the damn janitor and he can lift this debt yeah it's it's a shitty way to go yeah that's
00:21:34| life so I recall it being pretty slim like I always converted to a Roth IRA I don't know what that is I will go over those and once we get to the gold light at the end of the tunnel and then get a
00:21:47| light 401k so retirement savings I was putting a little away that's something that people like getting it too much yes you're gonna vest you're gonna be
00:22:00| allowed to put money into it we should i yes no should i yet but we'll talk about that wait till I'm out of debt perks right so it was weird because I was
00:22:09| juggling buying a house buy a car and then I in your future girlfriend slash wife at the time was maybe working and she was like off and on and she's probably making like 25 grand like she
00:22:23| wasn't making very much at all so like I was not supporting her because she wage break even when a minimum wage go to about that it was like seven something bucks I think at the time like 700 di so
00:22:36| time is 2000 what is that that's like $15,000 a year minimum wage I always think it's a 17 so yeah that make sense we all double check my math yeah I mean no no no I was thinking 17:5 was what
00:22:51| minimum wage but you're talking about a different time so yeah yeah it was about a little bit above 15k and she was um educated too she had a master's which is bizarre which is the Great Recession
00:23:05| which is well also another time period we should talk about because jobs for people were non-existent back this is all hilarious yes you got so Great Recession for
00:23:17| people who didn't have I guess a functional degree like a degree that was in demand you were left kind of treading water looking for anything that you take sure
00:23:28| did you apply to any jobs that were maybe a higher-paying that could be in the newspaper industry which I hear is booming right now it literally was the the pinnacle it had been two years later
00:23:43| I would not have switched to journalism but at a time I loved sports like all my favorite I knew my favorite writers like Bill Fleischman all these guys I was like I could be a Flyers beat writer
00:23:53| like that would be even if I don't make as much as like a bio whatever like this would be really cool anyway about two years later that whole industry took a [ __ ] yeah huge the biggest [ __ ] then I
00:24:04| iya the writing was on the wall so it's not like it was a surprise but it poured hoped for someone who is middle aged that looking back it's understandable but at the time the internet was still
00:24:16| something that you didn't even like Google was like something you're like okay what search engine do I use you're like what's this Google like people were still trying to oh girl
00:24:24| yeah like oh he's a dope I asked Jeeves like those chefs Jeeves 27 spiders that one I hunt even think mama like holy good yeah and so you had a lot of options and I guess it wasn't very
00:24:39| obvious because you couldn't really get your information online and have it be a reliable at a time I was a senior I was like don't you seem good but I'm one out here yeah doesn't seem good
00:24:50| you got you got looked get railed yeah a little bit and hard yeah long very long mm-hmm so so you're you're with majors like my own yeah you're about break even you're not gaining you're not moving
00:25:06| towards not even solvency if you're not above if not positive then you're insolvent you'll eventually you'll go broke be a debt sure and your I guess your saving grace at the moment
00:25:21| financially was that you found somebody that was willing to split the bills with you a little bit a little bit you're talking to your 7:30 was a split bill to begin with
00:25:32| oh yeah that's that three-way split [ __ ] so if you were alone you'd be completely I wouldn't rent this yeah but still 730 is a single like in a that's also the scale of like living
00:25:46| alone versus living with three people it's like the cost is not right how much more does correct so you would have paid probably like 800 my first apartment was ap right
00:25:57| area so think of this could you have done the 850 paying like five hundred and fifty a month extra with student loans no I don't I don't think I could have because my my margins were like
00:26:12| five or ten grand like it was very slim I would have had like no emergency money whatsoever oh yeah anyway keep going okay so that's I'm wired yeah your your perspective is completely different than
00:26:29| mine so this is good is the name we always we always knew it was but I yeah so I guess your your credit card debt is probably the same debt that you've had for 10 years roughly it probably gets
00:26:43| like a five hundred to a thousand dollars more a year it's been growing oh yeah a little bit I mean it probably was six thousand now it's probably close to ten down so at
00:26:53| what percentage do you pay off your like is your credit card debt what is it 12% so if you have ten thousand year roughly it might be down to eight it might be at ten five so you're paying that a rough
00:27:08| thousand twelve hundred dollars a year just in interest probably but how else am I gonna get my Geico paid how else am I gonna owe my kid needs his medicine woven oh this is the scary part yeah
00:27:20| it's like medical stuff that is absolutely necessary it's like you couldn't pay what pay that if you if you were further insolvent like if you were unable to get a car insurance like you'd
00:27:34| have to scale back and then your job without only pay less anywhere yeah I mean be minimum wage guaranteed without a chance to go elsewhere correct which is why I think a lot of people move to
00:27:47| the city because the city provides a lot for you in infrastructure nation easier to you know it provides a possibility to get out but I don't know that it
00:27:56| actually does so this is the rap I don't even know if this is the rat race this is like getting stomped into erekle some sort of the circle yeah circle jerk yeah the man just
00:28:08| reaches down and he decides good news for me is that by the time this episode airs I will be making at least 45 grand a year plus commissions so you were
00:28:18| scaling up I will be literally in the positive $400 a year hmm you know I'm gonna do with that money spread out over 52 weeks and spend it nice so how much do you get per per
00:28:33| week doing the math on that on up you want to know what's 50 what's 50 into yeah well $40 I've added by 52 8 trucks a week load damn hits 8 bucks a week damn it that's like going well came in
00:28:59| fast food this so yeah but now I can do it without getting any debt that's true I can get fat again it's about time to get fat again so my whole thing is I I'm very analytical and very planning boy
00:29:13| scout prepare yourself and my first job sucked and I did a little bit of like planning try to like project where I would be because I didn't know how much she could make and then my second job
00:29:27| was good so I kept it for 10 years but it also had a lot of downtime so I created these crazy spreadsheets and then I got into like financially independent retire early ideas or money
00:29:41| glider dot-com money clatters dramatic if that website is inactive but I would like to add more story to it there's actually people looking at it there are people saying thanks for writing this
00:29:55| sound like it's weird to write a story and then three late three years later have so many years later I would say thanks thanks well here's the weird part when do you respond and you're welcome
00:30:06| no I'm years later well do you have to do like a equal time spent like space the times equally I set a reminder to thank them in two years or do you thank them like immediately and that's weird
00:30:17| yeah I don't know it only cost 12 bucks to keep that website active so I'm just gonna keep it open forever I'm gonna maybe come back to it when I'm like 50 and be like hey I wrote this when I was
00:30:26| little a little bit little little that you called yourself a little because I'm getting a really muscular and Jack yeah I think we know which direction you're going buddy I'm getting jacked so jacked
00:30:42| off at $8 what are you gonna do with it you're gonna buy fast food so the whole oublie I'm hoping to get that the whole fire thing is like you save a bunch of money by like gaming the system house
00:30:53| hacking loom a lot of people you try to like reduce what you spend but you also that's the reducing what you spend is is hard and it stresses people out it is the other side of it there's another
00:31:04| boner here's an well you're right her anymore is one thing but not everyone that's the harder one people say make more money that one's tougher yeah it was a cutting
00:31:15| cost that's tough but it's not impossible what if your spouse or other is a spend holic and you have to just try and keep up with them is that the case with you
00:31:26| she makes more money than you right there's roughly two and a half times as much and spends all of it and I have to drag my feet on the ground at 60 miles an hour just to try and buy that party
00:31:39| tray for 30 bucks that we didn't probably need but we have to bring to the party and then a gift for so-and-so that costs so-and-so and I didn't think we needed to do that and then oh we
00:31:49| should have the people over but if around people over I gotta buy a case of beer I have to buy food when were d'oeuvres I have to buy extra burgers and then let's get steak yeah great idea
00:32:01| who can put a price on that yeah this like a thing 12 bucks right there Thanks there's my eight bucks yeah that's negative four dollars for the week it just went take ative for
00:32:13| even though I made more money so holy [ __ ] so uh there's two key differences and between you and me is a I don't think I could put up with that well I would just say I can't no and then be
00:32:27| the you're more of a party person an extrovert whereas trope I and my wife or not we so we will do you guys who do you have down there we have like random friends that
00:32:39| aren't that close to us like there we have some friends Ian like one three four weeks or like yeah you're like kind of probably like maybe we hang out with friends like once every two months like
00:32:51| really honestly Dan you're lucky you don't want to see people extrovert and I hate people I love having employees and if they come over I will laugh and have fun and drink
00:33:02| with them and tell them stories and regale them with tales but honestly I don't want to because it costs money it's time-consuming it's I'm spending money not making money I'm just yeah my
00:33:15| biggest spending on my hobbies is playing hockey and that's like 20 bucks a game I please to play two games a week says 40 tons like two grand a year just in hockey and then equipment probably
00:33:28| cost like 500 bucks so I felt first sharpen your skates I would sharpen them whenever they were a little dull Oh that'd probably be like every two months oh yeah a bit it's a reasonable well no
00:33:46| that's good so thanks other you say yeah it doesn't wear your skates sounds much no I know that's that's not good considering what you just said I thought you're gonna say once a year is you can
00:33:57| get away with it don't really hmm I'm I think I will now and I'm playing once a week but that's sort of spending like I was like borderline so there's another caveat is that people save money
00:34:08| and they try to live this like fire fire lifestyle and financially independent hourly lifestyle and they do the bare minimum like they do they cut their set them they enjoyment they cut everything
00:34:19| about the peace or to literally wool penny pinch every dollar never go out to dinner they will not spend a dime on anything you will not get anything unless it's
00:34:28| your birthday or Christmas we will not spend any money bake yeah we're gonna do an all-inclusive where we pay for everything before we go and that's it we're trying to save money
00:34:38| for our future there are people like that right yeah where's your skates and motors all right kind of little eaters yeah no no yeah they're they're out misers my serger heat miser cold miser
00:34:58| miser am i ASCII art I see uh what were they called it was fire financially independent retire early okay thank you oh yeah I mean they tell you how to game it so like you eat like peanut butter
00:35:13| and jelly like you can invite and rephrase it and then like if you want soup you just like buy lentils and put them in water and like eat them later it's like the meals can be like $0.10
00:35:24| meals and they're disgusting misses and this is a person who's probably making and they're literally pinching their pennies maximizing the financial aspect of their life which I have a sad story
00:35:39| to tell you all I have to do it so in our industry before I started here a rival competitor friendly competitor and the Kensington area and used to sell paper towels and toilet paper and stuff
00:35:53| and he would mark it up crazy and um it's a cash business he would take like $2,000 a week out of the business and say hey you got to put this away I'm just put it pack it in his house not
00:36:08| touch it or goals nothing has nothing to do with his business nothing to do with what he pays himself every week this is just money he stores away for a rainy day
00:36:17| okay he would do this for what 20 years and go to the local Inn everywhere and then pay everyone their tip you know what he tipped $1 per person ha ha so if you had four people the four dollar tip
00:36:37| sweetheart but ting he was extremely cheap he made money hand over he literally died and left his son millions of dollars so he's a $2,000 a
00:36:52| month he would sick a week a week a week holy Shh King Paschal and that probably wasn't recorded by the gun I like how I it they like it lagged a little bit so when you said government
00:37:06| has a Grier Andy I think no I said go that's funny that it like there so this individual left all this money to his son okay uh-huh free money his son goes apeshit and
00:37:21| spends it all please tell me that happened sort of so his son didn't know he was gonna get this money he's working in the same business kind of sweating and doing
00:37:29| regular guy stuff uh-huh finds out he's got millions of dollars okay now he's 48 guess what retire and early starts traveling he goes on vacation six weeks a year okay nice he's had daughters who
00:37:50| are kind of lazy and have everything no okay classics are generational well what happens that's what happens so he takes care of all their bills they had kids he's taking care of them he's paying
00:38:02| everyone here but he's you know he's still trying to be tight with the drawstrings you know he was trying to whatever um he recently was diagnosed with pancreatic cancer um it's a fast
00:38:13| one she's a bad one yeah he's still going on vacation still doing his therapy and still paying for his daughter's housing and everything else it's weird that he's probably gonna
00:38:29| leave them plenty of money for them to live their lives off I I'm not saying he's gonna die but it's because I know the guy personally I don't wanna watch this episode no I'm talking about him
00:38:43| but pancreatic cancer is bad and last I heard there was a relapse they have to redo something they want him to come in and get more chemo huh in a way he's living his best life he's spending it on
00:38:57| Nicholas meals ridiculous trips everything he just spent in a [ __ ] out of it and I can't blame him yeah what else can you do with it I mean we're just women misers the people who hoard
00:39:09| it you can only do so much when you work like who are you saving it for that's true as you're expecting to live a certain life and if you are so my point was that if you're a miser and you're
00:39:20| not taking care of yourself your health if you're not exercising like you don't join a gym or play hockey like I did then your health could be degraded so spending two grand on hockey ensures
00:39:33| that my life will be extended enough that I can enjoy the money that I am saving so it's a reasonable expense if I can talk to the Li you plane and get footage of one of your games I won't
00:39:46| post it on here and we will see if this extends your life we will all judge it well look at insight not hustling after that puck that's sharp and skates yeah so there there was a period in the
00:40:01| beginning when I was making just enough to cover all my expenses and put a little in retirement and in that period I learned a lot of good traits because I was budgeting everything I didn't giant
00:40:13| spreadsheet I could see where I was spending my money and I could see things your spreadsheet no psych 12 sheets or something it had projections down to the week like
00:40:24| I could tell how much money I was over or under for the year based on like one paycheck I was like oh I got a cut back so part of that was also learning like credit card hacks like having being an
00:40:38| authorized user of my parents but also the rewards credit and rewards checking accounts so like the rewards through the credit cards you could sign up for credit cards meet a certain somebody no
00:40:48| the attack I know this hack yeah it's five hundred a thousand bucks so I wouldn't do once I bought my house I would pay the property taxes with my credit cards and
00:40:57| every year I get 100 thousand bucks you know yeah and made off because I didn't I had the cash sitting around so it was built up most people's mortgages have the property tax bolted into the
00:41:08| mortgage payment and when I bought my house I said I don't want that oh and you were thinking yeah because I could do that myself and make 500 bucks on it so I was one of the
00:41:19| hacks and then rewards checking accounts you can get four or five percent in the money that you have in a checking account based on meeting certain requirements they're usually like
00:41:30| transferring money into the account and then using their card like X number of times it's like ten or twelve times so that's not that hard at all so I have a decent amount of money sitting in those
00:41:43| type of accounts that makes me feel comfortable that it's not losing value because inflation is about two-and-a-half to three percent depending on the month and it's above
00:41:55| that so I'm gaining money on inflation by having money there I have a hack for all the poor people yeah so if you're doing your whole thing and like a year goes by and whatever and all of a sudden
00:42:09| you thought the car payment went through but really the next check that went in took like an extra two business days balance and you everything bounces call them up right away
00:42:19| in fact hit up Citizens Bank on the old Twitter but you're like hey what's going on man something's wrong with you your account calm up say you haven't had a problem
00:42:28| you haven't been a negative your entire career that year and they'll say hey can you refund me that bounced and they'll say yeah absolutely here you go you now you have 17 dollars
00:42:41| in your checking and you go yes 17 bucks boom can really feel that dose mom so but you can do that once a year so Ellie did you know that I'd have fought it's funny because I do the same things even
00:42:57| though I'm not poor oh I'm a miser if I if I were to have a check bounced or there's some fee or it's like you're not meeting the minimum X number of dollars who makes a checking account that
00:43:12| requires $1,500 or you get charged money do you have a free checking yeah as long as I don't have to do two deposits a month and pray to God and don't curse yes there's a lot there's a
00:43:28| lot of rules where some thigh highs underneath your regular pants I'll do it yeah I mean how much is in that a lot the man is just a different man this time around want you to dress it down a
00:43:43| man man knows so the whole reason for this talk is that last time I think you mentioned that you're in a position where you're like you've had a couple jobs and now you're on a job where it
00:43:58| could project out to make a lot more money because you're kind of what they call a Oh an associate or like your intern or not an intern with all those junior sales yeah you junior sales so
00:44:09| like so if it scales up like they say 33 months as the past ten people have done average of ten people uh hundred grand yeah whoa ho hundred grand would change my little life you know I think it would
00:44:26| and I wouldn't have to work Saturday and Sunday or nights to do it sir and he went nope I said I wouldn't have to suck any you know what he said well a few I said but are you sure I can get
00:44:42| there you said yeah just stick with it okay so I've been practicing my moves I'm gonna do the whole pepper grinder yeah yeah you're probably there's good but if
00:44:54| I did that even for a year if I could get rid of a bunch of my debts yeah you gain a thousand dollars by paying off to ten thousand that you haven't debt yeah and then my other debt and my other debt
00:45:10| and my student loan debt and I'm on a car payment car payment will be gone in your horizon is is coming quickly the Sun is rising if I can survive yes as you can survive so you're at a turning
00:45:29| point and I'm not sure that you've ever had financial insight or like planning or retirement or any of that stuff so you're in a job that is a full-time 401
00:45:42| K to 4% nice good job they do profit sharing at the end of the year my old job is only 3 percent and profit sharing is pretty good I don't have profit sharing and so
00:45:54| you might actually come out ahead in a very short timeframe because now you have insurance health insurance as well I don't have it yet and I have will hide it if I can afford it but you have to
00:46:06| take it because of the risk at least the minimum so this starts our discussion okay here we go they feel risk moves let's do it this is grown-up jobs your wheelhouse
00:46:16| come on do this yeah you want to talk risk you want minimum so you want to do it yeah so for certain periods of my life we took like the full insurance but I don't think that's the best choice to
00:46:26| make like the full insurance is the insurance that cost the most but has a lower deductible and then covers more hold on you make more than me you have some nice
00:46:37| insurance packages that's good a nice insurance package for your full family cost you a month um let's ground $300 and the expenses are limited to maybe like 3 grand a year out of pocket a
00:46:51| doubler no no the deductibles lower than that but it's like it really caps out so like mine is that I my company has a Cadillac plans which are like once you hit a certain number you don't pay
00:47:03| anything at all so yeah it it can you put me on my plan on your plan I'll adopt you as my nephew or something dependent yeah you throw an old zero next to my name I would love to do that
00:47:20| just to [ __ ] the government because of like the idea of like who your family is and like how you have to like be related to somebody to give them a G ever seen the others or a family yeah how many
00:47:34| podcast does it make to make a family hundred one hundred yeah like obviously well over a hundred sir well over a hundred but anyway god yeah we we don't do that one because of the way
00:47:45| insurance works you pay upfront a lot of money and then in the backend you pay a little bit or you can just say you know I don't want to do that because health insurance is a giant [ __ ] scam you
00:47:57| can use your episode your episode folks future episode with yes so I do the high deductible plan which they actually pay me money to take that and then you can also have a high health savings account
00:48:14| so you can put seven thousand dollars into the health savings account a year this herd so know how this works I've heard about this good so that actually reduces your taxable
00:48:26| income by seven thousand so you save your Europe life you have their slates so long you have to put seven thousand into it yeah but you get to keep that it's not like a flex spending yeah I
00:48:38| understand but but you I won't have that every week right yes you won't have that every week but you can put that into investment hey I'm putting less way to put it where you can invest that money
00:48:51| as you see fit so it's an HSPA or whatever the HSA houses yeah sure it's exactly like a 401k but it's expected to be used for medical expenses okay so if you have a medical expense
00:49:07| you could just write yourself a check from the HSA and pay off the medical expense or here's this money coming from every time like check comes out I can put like $39 or eight nine dollars into
00:49:18| an account somewhere I like your random numbers every week in a hundred thirty five bucks okay but it's for every learner just for me here for this plane it is tagged to you so
00:49:34| it's your health savings account okay and the key there is that you don't pay tax on if you don't know when it comes out you don't pay tax on it so it's doubly tax advantaged that's kind of
00:49:46| cool I understand what you're saying is then I don't get taxed on this money car at all yeah and most people don't spend the money that they have in their health savings account because they can make it
00:49:56| grow and then once they hit a certain age they can start using it for a variety of things hmm so they'd rather spend tax money on
00:50:06| medical bills until a point where maybe you don't have enough money but you can use your old medical bills to pull money from from your HSA so if ever you're in trouble
00:50:16| save the bills that you've had for your previous surgeries maybe a leg injury some so maybe is C in your past you can you can take that bill and say I would like to use my HSA now
00:50:28| yeah nice thing getting kind of chalky like reveal at 1,000 thank you bill [Laughter] so you can use that it's you're safe you're safe with having that as an HSA
00:50:46| even if you're at risk of losing your job because you can always pull money out of it if you have a medical issue or have had medical issues at any time in the past so I highly suggest that and
00:50:58| that's something I didn't really know I didn't really understand it until maybe a few years ago and then I started having babies so the babies made it so that it wasn't so smart to be on they
00:51:07| ain't just the high deductible plan because it would be the max which then depends it's in the weird region of confusion interesting you've got this graph here and there's this middle area
00:51:21| that's just confusing I'm gonna ignore that part so you've got that going for you and I suggest you do that thanks I think well yeah and 401 K Roth IRA Roth re I
00:51:38| don't know what you've done there so 401 K is it reduces your tax taxable income it's the same thing as don't you say yes it does so you get to save 15% on that right yep yeah big government anyway
00:51:53| guys really sorry yeah 4% like I said I like gross yeah pre-tax income that grows over time and then once you want to take it out compounding interest well of course of
00:52:04| course of course so hold on so how does it behoove you when should you take out a 401 K well when I guess whenever you want to retire after a certain point there are
00:52:15| no penalties but there's also ways you can take money out of your 401k there's something called a 72 T which means that you can prima nocta ya sub to substantially equal periodic payments
00:52:35| which means like if you have enough money to retire when you're 50 you can just say I want to take out this amount of money indefinitely all right I think it's like five years whatever and
00:52:44| they'll allow you to take money out without penalty otherwise there's like a ten percent penalty and other garbage it what if you wait til in like 61 hit 69 and a half that has no penalty damn
00:52:55| oh no wait 59 half sorry yeah hell yeah that's what I'm talking about interesting yeah so that's one option no matter no matter where your 401k started or how I grow or
00:53:08| whatever where it's from it's like hey sixty I can get it yeah pretty much okay answer so you still pay tax on it regular tax yeah whatever you're any company is at at the time so this is one
00:53:22| thing that I didn't get fully or I was in like a band where it didn't matter how much I did it so I did it uh uh yeah tax band so okay sorry I thought you were in a band a band we [ __ ] so there's
00:53:35| I should have saved more in my 401k but it still turned out okay and I didn't think that I needed to gain the system but I could have more but again being free money the percentage right yeah I
00:53:48| think I was contributing like maybe ten or twelve grand every year which was good but at the max was like sixteen or eighteen so I could have done better but I don't think I realized the scheme of
00:54:02| like how you can screw the government out of their own money but also I don't know how much money I'll have when I retire so that might actually be taxed not.we negligible yeah
00:54:14| so the Roth is what is advantage you know Roth you never heard that term before now good you keep going on that's why I mean you know is paying attention Lancer this
00:54:25| is the one thing I'd never heard of a Roth is post-tax income so it's regular money you can put it in there up to six thousand dollars a year and then that will grow with compound interest you put
00:54:36| it in the market and then when you take it out you don't pay any tax on it yeah oh yeah my man yeah so if you were able to do that and then I'm adding a lot of money you could then pull that money out
00:54:50| without being taxed which helps you choose how much to be taxed in the future using compound me daddy compound me yes that's awesome I mean right now I couldn't put more than a
00:55:09| dollar but would they accept the dollar and Roth IRA yes they were I believe they would I know there's no fly there are no fees associated with doing these things
00:55:19| there's also methods in the fire community to do it so that you can put more than six thousand dollars in but they're very thin bein illegal it's illegal it's not illegal it's sexually
00:55:31| approved by Congress no it's a proof ISM this is a bill that has been signed like two years ago to say that this legal you can over contribute to a 401 K and then if you plan allows for it transfer it
00:55:42| over to the Roth so you can absolutely go it's not I'm gonna say illegal I'm gonna say this approved by the government the government loves this stuff I mean really we're talking about
00:55:57| stuff I can't really worry about right this moment yeah but um this is forecasting so that a lot of people do this like I did this too when I was younger because I didn't have enough
00:56:05| margin to say it's gonna matter like putting an extra thousand dollars it's not gonna matter and eventually you could busy you'll matter
00:56:14| time flies forward you have baby that you come out of a warp I need you're like what the hell just help me and a future relationship where I have a new baby with a new woman and how crazy
00:56:26| would that be if I am and you really ship a new baby and by the time this episode drops that would be insane ten years and months from now ten months ago we mentioned it anyway be
00:56:39| good know that you're gonna cover a time warp and then it will matter and you will have looked back and said what did I why didn't i research this stuff when I had the time or you know before I
00:56:49| started making all this money like plan it out so that you know where your money's gonna go and not for you yet because you need to pay off your highest interest debt first obviously most
00:57:00| people don't know that yeah you you're gonna buy that sandwich at Dairy Queen and be like screw that ten grand in credit card debt I'm so used to it now I can handle it man I like take it in the
00:57:16| ass of the but all that twelve twelve hundred dollars okay debt hey good cruel interest so do you feel like you're about to turn the corner you probably don't cuz you're still you
00:57:35| know because I feel like I'm still like a year and a half away here six months twelve months 15 months I do feel like if I stay on this job Pat I'll make enough money where I literally have
00:57:50| money to put places and I think that's the weirdest feeling in the world I've never had money where I'm like hey I can extra money where do we put it why don't I pay down my debt I think that would be
00:58:03| cool because at that point if I did that to five ten times and then did it to another area I think could put money into a savings or something I don't know this sounds rizal right it sounds people
00:58:21| who are absorbing like stay what are you talking about for future and bang I'm like hold on hold on and okay account I don't even talk to I could get 1% interest which is crazy do
00:58:35| you know the UM the interest rates changed um when we were teenagers so there was that grand recession which before that you could get like three or four percent and like a savings it was
00:58:47| insane the amount of money you could save gain is was absurd it just didn't make any % in a bank you literally put your bank in a savings account
00:58:57| and you get 4% per year is a year yeah hey people lookie Weiser our APR I don't know we thought it was probably a py anyway now what's the average savings percent well if you go online
00:59:10| well the shitty ones are like 1% you can go online and get ones that are like 2.2 percent now that I discover now I bet you know how much I made in my um check I have two checking accounts the one is
00:59:23| for danger below dollar country I have like 130 hours in there so sad I made I made a dollar okay that's all right thanks I got a free dough it's a chicken barrel agency right
00:59:48| play the lottery with it don't do that I play the lottery but don't do that I see the people that Hey yeah I do we did yeah we talked about this is a habit of poor people you can't do that well the
01:00:02| habit of poor people is that person that takes tickets out scratches them off while still standing for them oh I know and they're waiting for them to move and there's oh I didn't win and more dollars
01:00:12| sticking them in the machine 6 I'm getting a signal machine an envelope full of 20s you're just like what are you doing not a great decision so we're talking
01:00:22| about the stages here so you're it solvent that's stage zero stage state one is solvency is where you're able to actually meet your final needs I'm hoping to get there your stability is
01:00:34| coming it's when you've paid off your debt and you're neutral and what you're talking about savings accounts that's agency is where you have a choice of where your money goes because you have
01:00:45| some like kids about this and then I think maybe you'll be at a security stage when your basic needs are taken care of you feel stable yeah you've got [ __ ] women nah
01:00:59| you could get there you don't do it you gonna do it I actually they're talking about the UM panderers taking off in Chicago yeah yeah I turned off the ad dollars a month
01:01:16| I think our ads were making us like a baja a savings account worth of money so I turned them off and I was like this isn't gonna cover the $12 it costs to run the website by the way it costs $12
01:01:32| to run the website so I'm hoping that somehow it balances out in the end wait you paying $12 for hang glider I think we call it so stage 5 is what Indiana's there's a
01:01:55| period where I will you have the amount of money that will meet your basic needs perpetually so I mean yeah it can support my current standard of living but I'm not there yet I not close to
01:02:12| there actually I feel bad for you yeah it's a weird so what's the throw quote it's a most men live a life of quiet desperation yeah yeah so it's always a goal that people are trying to shoot for
01:02:27| so even though your goal is probably vastly different than mine we both probably feel about the same about where we're at we're both trying to call our way through it and slowly gain and I
01:02:43| feel like this might happen for me like off will you your student loan owe in the next nine years I hope so my student loans we've paid off yeah in your car and you're dead knows all that stars
01:03:05| yeah you'll get it you need to pay that off first okay I would have deferred I think you can do honestly so I you can I thought you could do income too for interest compounds yeah but you
01:03:19| could for your student loans you could have done income dependent paybacks right did you to be you know you had a different kind of loan didn't you yes
01:03:28| you had the non and through the non verbal only one that didn't okay so you're paying off the highest percentage rate first rate you got it absolutely nice so eventually
01:03:39| you'll get there so I'm shooting for the independence phase and I'm hoping for the abundance phase which is stage six it's where you have more money than you know what to do with and then it
01:03:51| compounds and keeps making it so that you can gain more money on your money that you already have o hundred percent and that would be nice you do you think you'll get there do you even like plot
01:04:04| this out to you can you afford Excel yeah Google sheets is that's free you can do you have the Internet can you do that on your phone I know we have a spreadsheet that has our net episode
01:04:15| info in it and I don't see any update so I'm you're gonna have to I haven't paid the internet bill the the only thing I will say to you is you seem more financially with it than I did
01:04:31| right yeah maybe we he look way less tan the night I am sacrificing my body for my current phase of life all right sedentary lifestyle inside a cool office building old menial tasks that's what I
01:04:52| started doing bother makes it automation Oaks you think this is deafening in yeah I think this is done you know this probably oh no no no I'm artists it's like an hour in like 15 minutes only
01:05:08| opposed this you'll get to retirement sometime you don't know when I won't it's gonna be 90 do you remember going to school and having the summer hit the first day of summer where you had
01:05:23| nothing do you had no one to talk to no one that you owed anything to it just summer and you had freedom this is gonna last like nine years and then you're gonna die I thought you said the
01:05:39| expected lifestyle no you know nine years of freedom lasted nine years it felt like Oh after that I felt like it was forever no oh you're talking about the scale of time mm-hmm
01:05:51| don't you want that that moment where you're just free and clear where nothing no one can tell you what to do here's the boss um I felt like it was gonna last nine years and it was over in
01:06:03| probably two and a half months right yeah if something really lasted nine and after years I feel like I would be like this is too long you don't think you could handle it no I think it would be
01:06:17| weird I think even having financial stability and nothing to do I'll put it this way so I looked do anything you wanted though you could do every one that you wanted I worked in the
01:06:32| african-american community of 40 and older a true mm-hmm my last job they all had one thing in common the ones who actually retired gained 80 pounds felt like they were dying their
01:06:52| limbs went out on him I had a guy whose eyes went weird he had blood pressure in his eyes he almost lost his eyes like terrible stuff the ones who didn't have any problems were the ones who retired
01:07:05| careful with them were kept working because you don't have something to wake up to when you don't have something that you report to there's something you need to have structure in your life even if
01:07:19| it's on a smaller scale if you don't and you say I can do anything I have so much money I could just work out every day you're not gonna frickin work out every day are you I think I will I think I
01:07:31| have enough structure woman you never get money six packs in between my video I'm gonna get like I'm gonna get my six pack 1000 I'll be an old ballad I'll be doing the hell we live with a
01:07:46| single neck just doing front to me everything from the thing I'll remember this is like you said it's weird I feel like there's a weird there's a balance between what you want to do what you
01:08:04| will do how much you will do don't you think there'll be a rebirth though you have all this free time you'll eventually be like you lose all the shackles you'll be free to think
01:08:15| about whatever you wanted to be completely recharged you'll be ready to attack whatever you want to do and you'll know what you want to do because you'll be able to do everything and then
01:08:24| be like I like that the moves just just because you're older doesn't mean you know everything like you won't be like huh I know what I want to do you have the opportunity to experience more so
01:08:35| you can choose what the experiences that you want I'm 34 okay when I was 18 I know I am when I was 18 someone said if I give you free time for the rest of your life what would you do
01:08:46| I'd be like plug my booze Oh get drunk with boyfriend's like you know I mean I don't know who the frig knows if you ask me now I'd be like oh no hanging out with my son
01:08:57| blew my booze I mean I had these ideas but your life is a series of doing things if I were told I didn't have to do things I think I would stop doing things
01:09:11| I think I would stop it would stagnate this is the problem with people they stagnate yeah most people do not have a drive to do to create their own schedule and drive their own like you do you stag
01:09:24| me and your body physically responds to it so you don't have to wake up at 5:00 by 6:30 and come home by 4:00 like dude sleep shift you need to wake up and go to sleep you go to sleep at
01:09:38| like 5:00 a.m. and then wake up at like like summer I would do that in summer and it would be amazing but I'd feel it would be releasing bit weird but over time your body gets used to it you don't
01:09:53| know not feel like it's weird it's like no purpose to your life starts messing with you a lot of people talk about this and they say they take menial jobs they do like barista fire which is they
01:10:07| become so then and all of a sudden friggin they start to take jobs that shitty minimum-wage jobs that minimum white people don't need to do because they can't afford it with health
01:10:17| insurance like Starbucks they gave you health insurance or they do like charitable things like the housing was a I don't never done it so that's terrible houses for Humanity
01:10:34| Habitat for Humanity [ __ ] I got that wrong two beers in but maybe through Jean so people do that they find purpose in giving to others because now they're free so there's possibilities there I
01:10:48| guess people don't recognize the possibilities because they're so set in bright idea of what their life will be being active help you yeah keep doing it yeah and the reverse side of this which
01:11:02| is exactly the same is that the people who are going miserly into fire and not enjoying the work that they have now where were you once they retire yeah what will you do that will be enjoyable
01:11:15| like if you didn't find enjoyment in the previous 10 or 20 years of employment what the hell were you doing like you don't enjoy your co-workers like how do you not enjoy people they're not gonna
01:11:25| enjoy the money after the fact yeah because they refused to pay yeah exactly they're not my family this is weird a lot of people choosing not to have kids because they want to save their
01:11:35| money it's like that's after having kids I think that's foolish like that's dumb like kids repay you in like laughter and happiness and so much enjoyment that cost me I think it's do what they said I
01:11:49| hate my kids by the time this episode drops yeah now we might have yeah you might actually have Laura Thoren we're in the rain you're gonna have twins mmm each kid costs a Lamborghini that's why
01:12:08| I'm told I'm gonna Hannah don't have a Lamborghini yeah I could I had to I guess in ten years we get it wrap it up yeah I gotta pee we understand the
01:12:21| dilemmas of the human body so I'm gonna find my littles up almost Zion they want naio or freedom are you trying to say it but you got too close to the damn camera back up from the guy got excited I got
01:12:38| excited a little beat something do you think you would enjoy the beach no I don't I hear people like people say they've made millions in your future
01:12:52| yeah have to say one night millions do you find your Beach yeah yours day wasn't it but it's not necessarily that Beach how long can you spend on the beach
01:13:00| well nude beach should be good gonna be a plus but how long can you until those people came in and then like how much how long could you spend at a beach resort before you're like that's enough
01:13:10| alcohol for me enough food I can't take a cruise longer than a week because it's just feels terrible enjoy vacation like it's like no we gonna hand this man yeah and then you want to go home you want to
01:13:24| feel your the shower your the hot shower of your home your bed mm-hmm your dogs your family your normal life I think most people love their normal life they don't want to admit it to a degree like
01:13:41| how much can you endure freedom yeah like we teen is already built into thirty five years of whatever I've been doing so I don't know like a relationship takes what half as long as
01:13:58| you've been in the relationship to get over it it's like if I guess if the routine is 40 years of routine yeah I'm gonna be 60 by the time I break that routine out of my body before I realized
01:14:11| whatever life will be I don't know that I'll ever really get that routine out of me you might know Brooks didn't get Adam Rick he was here in all of us damn
01:14:29| folks what we're talking about here is ridiculous yeah like what would you do having them died when the lottery no you didn't say that yeah retire early be financially
01:14:41| independent you go through the stages you know cuz you [ __ ] pay off that debt you don't you don't know what to do if you pay off your debt student debt everything credit card library interest
01:14:53| AP y r AP R a P y AV r Oakes does I'm talking to you right now is about life dad intergenerational wealth if you can get there if you can get there hmm this concludes our episode thank you
01:15:17| for the Stan thanks for listening folks we like it a lot just donate on patreon just friggin throw money in whoever you want cuz money doesn't matter you know once
01:15:28| you're high enough you could just glide on down and your money glider afraid money check out the money lighter also real quick I think Carl from Aqua Teen Hunger Force said it best when his
01:15:46| next-door neighbor Meatwad won tickets to the Super Bowl huh and he said I always sort of thought of you as a sort of thing that I can live next door to in accordance with
01:15:59| state laws how many ways trying to get tickets from me twine and I like to like an everyday thing anyway folks we like you we like you a lot good night our socials for
01:16:15| today or morning
UnP Website
|
PredPod Website
|
UnP Episodes
|
PredPod Episodes
|
Subscribe via Email
|
Subscribe via Android
|
Subscribe to RSS Feed
TikTok | Twitch | Twitter | Tumblr | Reddit | YouTube | RadioPublic | Blubrry | PlayerFM | Stitcher | TuneIn | Apple Podcasts
Subscribe to RSS FeedTikTok | Twitch | Twitter | Tumblr | Reddit | YouTube | RadioPublic | Blubrry | PlayerFM | Stitcher | TuneIn | Apple Podcasts
No comments:
Post a Comment