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Inflation, National Debt and the U.S. Dollar - What Could Go Wrong?
"Prices are up double digits yet. Inflation and us as measured by the consumer price index is still less than three percent that the federal government is issuing trillions and trillions of dollars of new government debt. It interest rates are rock bottom that the money supply has increased over twenty five percent in the past year as money flowing everywhere yet. It's not showing up in inflation measures such as the consumer price index in this episode. We're going to connect those things together and consider what is it. That could go wrong where we could see inflation. Spike and the return on treasury securities be negative. Last october i released an episode titled how to buy and hot housing market i described lapel and is quest to sell our house in phoenix and by one in tucson since then the housing market has gotten even hotter than median existing home price in the. Us is up over sixteen percent year over year. The house we sold in phoenix. Zillow estimates is now. We're ten percent more than what we sold it for. This past november houses around the us are getting multiple offers. Many above the listing price and often the buyer is paying cash one reason the housing market is so hot is individuals want to move. They have been working at home through the pandemic realize the either one a bigger house or they're not going back to the office and so they wanna live in a less expensive locale. People are leaving. High cost states like california new york and new jersey and moving to less expensive states or states with better weather arizona. South carolina florida and idaho at the same time. There's been a limited supply of houses.
Valuing and Monetizing Products and Services with Jon Manning
"Driving today. Our guest is john manning and here are three things you want to know about john before we start. He is the founder of pricing prophets. Which is a group. I was proud to be part of for couple of years a long long time ago. He's in charge of pricing at m y o b and. He's the author of a brand new book overcoming flocks. In austin i have palpitation. Try that one more time. Flocks and austin hill vacation yes valuing and monetize products and services. Welcome john often. Oh good morning or wherever you're listening. Okay folks in oakland a hill fixation. Okay i got to tell you that i listened to twenty times before this just selected. Try to pronounce it. I'm surprised with the other knowledge or lack of knowledge of the word because eighty s fantastic. Would if you're in the world of crossing it made the habit of estimating something as valueless so it's a perfect world for pricing surprises me. Sometimes when i've shown people the cover of my book straight away said oh folks on the hill fixation. it's one letter longer than antibodies establishmentarian ism which makes it the longest word in the english language but the evolution of the bulk from that perspective. It's a really applicable title for the book. Because i was during processing workshops for accelerators and every year or every six months. I'd go into a classroom and ask people what their pricing model was for the startup. And i said crossing muddle. We're gonna get youtube. Subscribers and facebook followers in twitter likes and stuff like that will monetize light up and sure enough if you ask them to get their business model canvas which side old don as part of their accelerated costs the revenue box on the business. Model canvas was empty. Now you and. I both work with people and we know that you know. There's a problem to be solved. Some more thinking was the way to solve. This is actually build a dedicated value by pricing canvas. If that fill out that box on the the business model canvas have a crack at filling out this canvas
Debunking Common Tax Misconceptions
"Let's jump into the tax misconceptions matt. Let's start with the first one and this one is if file extension. I don't have to pay anything to the irs. until october. i have heard about that. Yeah and we wanted to lead off with that one because there might be some folks who are thinking oh man. I don't have to deal with my taxes over the next month. Maybe i should just file extension right now and if i do that then i won't have to pay any money. But that's just not the case right. It'd be nice to hang onto your money for a few more months. Not give to the. Irs keep that money in your own account. Earning interest the entire time but sadly this isn't true even if you have an extension and are waiting to file your return until this fall you still have to determine what you owe the irs and you have to pay them now. If you don't do that you're going to penalties in addition to the tax when you do end up getting around to paying the money. The rest later on this fall in october yes up to a lot of thinking well. What's the point of file extension. If i still have to pay right but you know making sure that you don't screw this up is important because you will. Oh half a percent an interest every single month that you are late in paying the irs. What you oh so. Make sure that you keep that in mind joel. Next up on the list is maybe a saying or a phrase that people kinda subscribe to which is the thought that tax refunds are great. If you're getting thousands of dollars back in your taxes it feels so good right. Yeah does but you could have been using that money all year long to save more money. You know whether you're paying off debt or maybe you're investing in yourself or you can put more money in tax advantage accounts to actually grow your wealth and so some say that the problem here is that you've given an interest free loan to the government and that does make some sense right but the real problem is that when you get money and it feels like a windfall right. It's not something you necessarily counting on. Maybe kind of feels like a lottery ticket. You're you're more apt to spend it recklessly A lump sum tax refund is more of an emotional and behavioral money problem than just an like. I lost eight hundred twenty cents an interest to the irs. Problem right yeah and considering how low savings rates are right now the fact that you got a thousand dollar tax refund. It's not about the interests that you lost it's almost negligible right. That is very little money
How To Think Like a Breadwinner with Jennifer Barrett
"We are excited for conversation today. With jennifer barrett's jennifer is a long time financial journalist and she has written for publications like the new york times Wall street journal money as well as newsweek. She is she's prolific as she seemingly everywhere. She's hosted popular personal finance video. Course on mutiny. Talk on the importance of wealth-building she's also appeared on many tv shows as well and as impressive as all that is she also has a new book that just came out That's titled think like a breadwinner which is all about empowering women who want to earn more money so this is going to be a helpful episode for everybody but especially for the working woman so jennifer. Thank you for joining us on the podcast today. Thanks so much for having excited to be here. I really love your podcast. Thanks jennifer and we're glad to have you here with us. And matt we were talking with jennifer before we began the show and jennifer mentioned that she loved crappier. So yeah. we're we're drinking a banana cream pie style. Bureau the show right now while we what we have this combo but matinee. We always drink a craft beer on our episodes. Because it's something that we love is something that we splurge on also being intentional and trying to save well for the future so we want to know from you. What's your craft beer equivalent. Oh it is craft beer. I love it is one one exact same thing. Yes i was just thinking that we could spend an entire episode is geeking out on beers. I am total beer geek. In fact i am looking. I'm not drinking just yet today. But i just splurge on a four pack of mckellar limited series. Yes very good and brewed with beer. Love them we're also very close to which my gosh dangerous because you're in brooklyn urging walking distance from other half and they have some amazing beers. I probably don't need to tell you. I was just thinking they have on called banana pandemic which you might like as part of their pastry series anyway. It's very easy to drop twenty twenty five dollars on a four pack to ease. It's worse than four beers
Tiffany Aliche's Financial Components to Become 'Financially Whole'
"Alita welcome back to the bigger pockets of any podcast. Always so excited to talk to you. I love that you guys have me back. Thank you so much mindy. Thank you scott. I love being. I feel like i'm a regular now shooters. I think you're our normal three-time guest. Oh which is nice Okay so tiffany. You are a master of all things money and finance but where your budget needs to story. Starts you worry financial disaster. You had a lot of shame over your situation. And that caused you to withdraw from friends and basically from life. What would you say to thirty year. Old tiffany going through all of this financial horrible mess and two others listening who are feeling ashamed of the financial situation there. In how do you get you to stop feeling bad about a mistake that you've made so i'll say get you linda and explain what that means. Emitted in alsace. Shame is a liar. So the way i was able to go from like this secretive. Shame when it came to my money. Was that my best friend linda. Who'd been trying to reach me for months. After i lost my job after i lost all my money after i scanned into thirty five thousand dollars in credit card debt after i couldn't afford my mortgage and had to move back home at thirty so i was at the bottom of the bottom. I remember literally looking at the ceiling from my middle school bed saying you had more money at sixteen. They do thirty like in total. I'm talking about retirement. Savings pennies in my purse like is this was like shame on top of same so linda called me after trying to get me on the phone for some months and was gonna pretend like everything was okay. That was busy But you know your best friend knows you best.
Great news if you're saving for your grandchild's college
"For years. I have cautioned grandparents that do most of the savings for college for grandkids. Much more than parents are able to save for kids because parents let me tell you there in the weeds. They've got all those expenses paying for their kids saving for their own retirement paying their mortgage or had and all the various demands on their money and if their ambition is to have a kid to college. It's a precious. Few parents are able to save for a kid's college without hurting their own retirement. And is you've heard me say your highest priority is saving for your own retirement because kids can pay college a number of different ways number one. Is they go to a cheaper college number. Two they work number three. They got scholarships
Ditching "Active Investing" for More Passive Income Streams with Tamar Hermes
"Without further ado tamar hermes. I'll write tamar. Welcome to the bigger pockets. Podcast it is awesome to have you here. Thanks so much. Thanks for having me. Yeah so you and i. I counted about a year ago. And i learned a little bit. What your story. And ever. Since then i've been like tomorrow on the podcast so excited that we finally made this happen today and i want to learn more about you and that journey. So why don't we start early on. How'd you get into this idea of real estate investing. How did you get that. Get bit by the bug. So i when i was twenty years old i was an executive in television and i was making six figures and i thought. Oh wow. I've got it made but i knew better because i realized that i was exchanging time for money and that. If i didn't have that job i would basically be. I don't know i wouldn't be able to survive. And how i assert looking at my bottom line and it made me think about when i was fourteen and a half. I really wanted a car. And i grew up poor. I was the child of a holocaust survivor and i. I wanted that car. I was going to have to work for it. And so by the time i was sixteen i had saved five thousand dollars and cut to me realizing my bottom line. Which was that. I needed to figure out how to get rid of rent. That was the biggest expense. And so i took the forty thousand dollars that i had saved and i put ten percent down on a duplex in one side of it. Then i lived in one side of it and i lived in los angeles. I also lived within two miles of my work. Which made it really easy because your time can really get sucked up when you live far away from your job. Especially in la. That's awesome all right. so i got started. How do you what your that was like. How long is in aides myself a little bit but it was nineteen ninety eight ninety nine perfect. That makes you like twenty nine years old today. Thoughts twenty nine. I'm just just about thirty
How to Pay Down Debt
"High one. I'm completely fines would come in our website. We took above financial literacy and financial independence. Today i would like to say a few words about the first section that can take defiance independence and that is no other than paying down order. Your high interested it. It is important to make the distinction between high interest in low interest. That as there can be good. Low interest heads with interest is no more than five percents and in the long-term term can increase your income or net worth some examples of gupta it's mortgages or low interest business loans. So today we're we're talking about things down high interested in food and as fast as possible. First and foremost you need to have a complete view of volume debts. List down all your debts. Such as credit cards and personal loans and include the interest rates. You bay on needs of your debts. This will give you a food picture of where you are with all your existing debt. Secondly you need to ensure you get to a surplus position every month and that your monthly expenses do not exceed your monthly income. This is the most mentally challenging part as it will require a mindset shift from overspending to living below your means and may also require some temporary lifestyle changes you can save getting to a surplus position by increasing your income thing down your expenses or by doing both leslie on some practical ways on how you can pay down high interested faster. You can negotiate with your lenders that interest rate your gandhi pain. You can consolidate your debts to one or two lenders to contract them more easily. You can move your kind that balances to lower or even zero interest rate could facilities some lenders dual for promotional low interest rate periods. When you move your credit balance to them you can set up automated payments each month so that you do not forget making your payments as this is something that can also hundred credit score. You can pay your suit bait more than the minimum balance and you should start paying down. I the dead with the highest interest rates as this will allow you to save more on the on the interest rate. Expense your thing. You can also seek financial advice from an expert on how you can respect your existing that balances.
Jessi Pujji - A Primer on Performance Marketing
"So jesse the first part of this conversation is going to be what. I'll call the definitive conversation on performance marketing and i guess really just marketing generally speaking to set the stage as to why you are the right person to be having this conversation with. Just tell us the short history thumbnail version of an push how it got started. And what you've been doing since its founding. Yeah sure. I was not born. A performance marketer. Rank wouldn't wouldn't have expected myself to end up here. Ten years ago is i was working at goldman sachs and i went to wharton and if you go to wharton goldman sachs says the goal of every word kid. I got that ring and my dad was an entrepreneur came from india. I grew up around that entrepreneurship. What i thought i was going to do. But kinda said man. I want to see what it's like to be an investor and learn about that. And you know i liked it but i didn't love it and i said i wanna love what i do and so pretty much on a whim moved out west and said hey i'm gonna start a business and was as in love with the idea of starting a business as i was about and i specifically wanted to build something building organization culture and said you know what let's bootstrap this thing. We don't want to raise angel round and then have a gun on her head and burn money. We want to get something that can make money from early on. And we went around talked a lot of mentors and friends and they said oh you're good with numbers and data go look at performance marketing. That you'll figure something out there and we started calling it sandbox entrepreneurship. which was. We're not going to come up with an idea. Sitting are goldman sachs as what we get in the sandbox of something. We'll figure something out and so we kind of did it like nerdy. People would pick a business ideas so he's okay. We got it number. Zero online marketing. That works will. We don't have any relationships with anyone. We're twenty-five years this. this is late. Two thousand nine early thousand ten or don't know anyone don't have any relationships so how do we get into digital marketing. Well there's this thing called performance marketing netflix's invented it and they'll just pay you kind of like a bounty. They'll pay you fifty dollars or one hundred dollars every time you get them a customer you take all the risks and you make the margin and we go arbitrage. That sounds familiar like. Let's go do that right. And let's go figure that
Tacoma Approves New Sales Tax for Affordable Housing
"Combos. Charlie Harder tells us how much it'll be. The city starts collecting the extra 1/10 of 1% tax on July 1st that brings the total sales tax into coma to 10.3%. Council member Chris Beall says the money will help people who are struggling to find a place to live really comfort. We're doing this. I I just think it's kind of a landmark moment here. That really can't be underscored that we have not had a sustainable source of funding like this for Housing Trust fund or economic development, Harvard or anything like that The money will be used to buy or build affordable housing, as well as getting people mental and behavioral health treatment. It's expected to bring in an extra $5 million a year in revenue. The Tacoma sales tax will be among the highest in the state. Charlie Harder Come Oni Skagit Valley Tulip Festival
Improving Your Communication as a Leader
"In working with a lot of successful individuals including entrepreneurs which are a lot of listeners there entrepreneurs in the wealth management space just started their first business myself. That you've seen some very positive traits that make a successful entrepreneur. Also potentially some very negative traits for successful entrepreneurs. Can you talk a little bit about both of those aspects of entrepreneurs in how they can help and hinder them from achieving even more. Yeah sure yeah sure you. Entrepreneurship is a winding road and Oftentimes is i've seen you know. The intention is to move in a certain direction and almost always The pathway does not lead in that particular direction right so i think to be a successful entrepreneur. It's really really important to be nimble. It's it's really important to be able to make decisions that are based off of what the market is telling. You not necessarily what your heart is holding onto right so oftentimes there is. There's an intention. There's an objective. Perhaps there's a business plan and you want to position yourself to capture a certain part of the market will the market might tell you something different. And so if you're not able and willing to adjust in pivot in be nimble. The journey couldn't pretty quickly. And so i would say that on one side. Being nimble being flexible is the positive piece on the other side to that equation. Coin is you know if there's a tendency to really grip too tightly to ideas into to have sort of controlling approach to it. Entrepreneurship entrepreneurship is using. Is going to be a really difficult. Pathway right it's gonna be like pushing a boulder up a hill. And so i would say. That's the first thing the second thing that i find with successful entrepreneurs and i just happened to work with a lot in in various capacities and in different channels and different businesses and industries. Is that if you're not a hundred percent in. You should probably go do something else you know. I'll talk to a lot of people who will say. Hey i'm thinking of starting this job in. I'm you know i have some ideas around it and i'm just not sure as soon as you hit the i'm just not sure the question then becomes what's it gonna take to get you to that point where you do feel sure that you wanna do this because it's a it's a challenging pass. It's a challenging path. It requires an all in approach. And you really have to be one hundred percent in if you're gonna make that leap and make it work and be successful now. You could make one hundred percent leap in have it not work out on the first try. And that's okay. That goes back to what i was sharing before about being flexible and being nimble. So if you're considering entrepreneurship and if you're considering starting your own business in your about eighty five percent of the way there. I think it's a worthwhile exercise to sit down and say okay. I'm at eighty five percent. What's it gonna take me to get to one hundred percent and really get clear on those things and once you get one hundred percent then dive in before that it's premature and it can often be really destructive. So i i would say those are kind of the two things is to be all in with your heart and to be flexible in the process because regardless of what your idea is You're gonna learn along the way and If we're talking about in the financial industry it really doesn't matter what industry we're talking about your learn and you're going to be asked to make To make changes you just have to be able to roll with it and stay all in. I really believe in. I've seen this time and time again. We're entrepreneurs will start a business. They'll get a couple of years in in they'll be so discouraged that you know the to move in a different direction and that's fine and in this earthly okay. However if you really truly to make it work you've you've got to be able to get over those humps and and really And really stay with it and the more you do something the more you practice something. I think the more the better you get yet that element that you're talking about in terms of mental elasticity. I think is is very both relevant and important to to entrepreneurs because there's always going to be this friction between waking up every day and doing the things that you need to do to be successful in the business while at the same time understanding that you're gonna need to have some of a longer term strategic plan and being able to weigh between those two things that the tactical blocking and tackling items on a day-to-day basis and having enough foresight to understand what the market is telling you And not to get caught up in your own preconceived notions of what you think is right it. Just there's a lot of different variables that go into again. Having a business be successful but having a be successful over sustained time period because again to your point around. You may have a really good idea. That's good for four years or five years but if you don't change you're not going to be in business ten years or twenty years down the road so you answer the first question around one hundred percent being in mental last In terms of the positives. What are some of the negative traits that you see from entrepreneurs the pop up from time to time. Yeah i Imprac this is because of my profession. What i've been trained to do. And just what i practice over the years. I try not to to bucket things in the positive in the negatives in look kind of the negative things has more opportunities for growth in. So we're we're we're all the perspective. I'll take it from is a lot of people will get stuck in those areas where there's actually an opportunity to grow 'cause they're gripping tightly to their preconceived notions and so if we focus a little bit on that one of the things so you talked about a five year business versus a ten year business in having to pivot after that. Probably the most important rule of thumb is is to approach everything incrementally and if you're willing to approach things from an incremental perspective now you're taking little bite sized books That you can then build on so the negative or where people get stuck is trying to do too much at once right. So i think vision is important. You know when. I've had people talk to me actually had someone who reach out to me the other day. Say hey would you mind taking some time in helping me. Constructive business plan in my response was okay. Why don't you send me back what you wanna do for the first week. And let's start there right. And so. I think there's this big misconception that you have to have this grandiose business plan and in the back in previous paradigm that might have been the case but i think that things are moving so quickly now and they're changing so quickly that you actually don't need that five year plan you have a vision and you can say you know what i'm going to point my our this wayne i want to go this way And at the same time it can be extremely beneficial to just say you know what i'm going to take these things in bite size
Employers and the pandemic effect
"We gotta talk you know. Employers have used the pandemic as an excuse as a way of getting rid of people that are older workers and they been able to avoid any discrimination age discrimination oversight really by using the pandemic as a way of paring back workforce's really giving it a older employees them taking it on the chan in the crazy thing is the reality companies that do that end up lowering their future profitability. And they think they're so smart. Treating older workers like dirt and treating them as refuse or surplus and hiring somebody younger cheaper and yeah there are advantages at least immediately with payroll. But what a you moves you move the institutional memory. I've seen that in so many industries so many businesses where they decide they're going to pare payroll and they really go after the older workers and end up thinking that they're doing something really clever. They know it's sturdy but they think they're doing something clever but they end up hurting the company's very future well now to surprise the wall street journal wrote a report about why getting rid of the older workers is actually going to harm the american economy because the number of workers fifty five and older that are in the workforce right now is down to thirty eight percent
Hospital price disclosure is the law not happening
"Today's episode i wanna talk about hospital pricing. You know this is an area that is the probably the biggest problem in healthcare costs hospitals have conspired to prevent people to comparison shop. And if you look at where. the cost. medical care has skyrocketed in the last twenty years. It's all on the hospitals doctors not at all nurses not at all pharmaceuticals well. They're somewhat a problem but the whole ballgame has been the hospitals and the hospitals have fought every possible. Way doing what they're supposed to do which is give you the ability to comparison shop. They are required by law to allow you to know the price of a procedure based on your individual health care coverage you have insurance or what. It costs if you don't but do you know. An investigation exclusive investigation by the wall. Street journal found that hospitals are using code. Software developers have come up with to hide their pricing. So they're complying with the letter of the law. The pricing is there on the hospital websites but then they use coding to hide the prices. So when you go to comparison shop you can't this is disgusting. People have been fighting about obamacare since. What two thousand nine. twenty ten. Whatever and before obamacare during obamacare. Whatever comes after obamacare. The problem is not how we ensure people. The problem is all on the cost side. And it's all with these hospitals. They conspire against the best interests of our country.
How to save a million dollars
"If a twenty year old professional athletes signs a ten million dollar deal right. he's going to get a ten million dollar income deal. How much does that twenty year. Old need to save per month to be a millionaire by the time that they're sixty five so investing because we use that word saving investing interchangeably here. But you're saying even though he signed a ten million dollar contract. How much does he need to invest monthly to reach a million dollars by the time. He's at retirement. So i want you to think about that and then we have sort of a be a second part of the question if a twenty year old college kid not even graduate twenty year. Old college kid wants to be a millionaire by the time they get to age sixty five. How much per month does the twenty year old college kid need to save to be a millionaire about sixty five now. I life advice for the athlete. Probably not how much you just invest. But how much you don't have a lot of. We tell the woeful stories of of athletes that have multiple seven figures or performers who have multiple seven figures and somehow still are penniless at the end of their careers. Will the obvious. Answer when i saw you. Put this in the show notes. I was like. I see what bo's doing here. He's kind of playing the game of. It's all a joke. It's matt is not what your shovel is. It's what you actually end up with. The income is important. But you can do a lot with a little if you actually deploy the your army of dollars into investments and we actually have created some slides on just showing you. How approachable how easy it is to create abundance and wealth for yourself and so what we show. Is that for both of these individuals. Both these twenty year olds all that they would have to save ninety five dollars per month starting at age. Twenty all the way to sixty five to be a millionaire. Well what that means is over. The course of their entire working career they will of only saved about fifty one thousand three hundred
Clark updates the pandemic economy as vaccinations take hold
"So i would have been double taxed. I got my first vaccine in january. My second does february. Eleventh and truth is my life has not changed much so far my wife has now been double bagged and at some point will actually start resuming. Some things of what was normal life before march of last year. Now i know there are those among us who have continued life pretty much uninterrupted and there are others who've made some compromises in their lives but continued to mostly live lives although i spent almost a year in semi quarantine and that was something that we made a decision as a family. I have a pre existing that made me extra vulnerable to corona virus. I never got it and now we've been talking my wife and i for weeks about well. Maybe we go sit outside at a restaurant and eat a lunch or dinner. Something we've not done in the last year plus and it turns out that there's about a third of people according to a new survey who been vaccinated who are about where my wife and i are we feel a sense of relief being vaccinated but according to a harris poll about a third of people are still like. Yeah feel better about this. But i'm not quite ready to step out a lot of those people. Apparently according to harris or waiting till we reach herd immunity which is where we get to enough of percent of the american people who've had the vaccination that we basically eliminate corona virus is a threat People have been vaccinated. Have somewhere between a one in twenty and one in ten chance of getting it anyway and. That's why there's that level reluctance and so we also have a certain percent of people who are thinking they're not gonna get a vaccine to knowing they're not going to get back scene and if that number stays low enough we get to hurt immunity. That number is too large. We don't get hurt immunity and it means the economy. The economic activity continues at a slower speed. But i am looking so forward to doing things normally and when i'm able to go to a sports event eat indoors at a restaurant. Travel is something that i absolutely can't wait to do in all these things that people have been reluctant to do have held back the economy. But what you're going to see over the next. Many months is step by step. The economy will gain strength just because of the fact that people are getting out and doing things one thing in particular. Read an item. It was very touching about grandparents for the first time since february of last year. Getting to be in the presence of their grandkids and that one is a big one for anyone who's grandparent to be able to be with their grandkids and to be even with their kids. A lot of people have not been with their adult children over this time period. So there's a lot of things that have led us into these choices where we've restricted and by the way one thing that was really shocking to me is new. Data came out that found that there was very muddled difference and economic activity in states where there were government imposed lockdowns and in states. That didn't have lockdowns. The certain percent of the population made the choices. They were gonna make to hibernate. And the economy's had a certain amount of hibernation so it means that we have a lot of capacity and the economy for growth especially as person by person people make those individual decisions to do things again as soon as we actually do something so simple is having a meal at a restaurant outdoors. I'll talk about that on the podcast. Because i know for people who've been living a life they've been engaged through this last year. Plus i sound ridiculous but the reality is there are a lot of people like a third of people that are in that mindset that i am and we are the ones who need to reemerge to get the economy growing again and there's a big urban rural divide on this because i on the road trips have taken to the beach. Is the wonderful escape. That i had through the last year. Plus when i would go through rural areas. And you'd stop somewhere. You'd see a very low mask wearing very low percent people mask wearing and then in urban spaces you'd see very high levels of mask wearing because i think people who normally aren't around a lot of people didn't see this as a real present risk to them and those areas where people have not really changed their way of living they're not going to see the bounceback and the economic activity that actually urban and closer in suburban areas are going to see but i can pretty much guarantee you. We're going to see strong economic activity hiring all the rest as we move through the rest of twenty one.
Where's the value in NFTs
"You first saw the acronym ft show up in your tweets you got as far as not at four. And then you realize you're quickly going down the wrong path and trying to decipher it. Nfc stanford non fungible tokens now from there. If you're like me you thought it had to do with mushrooms. Maybe mario brothers. I don't know so then you read a paragraph of an article got bored or confused and moved on with the knowledge that all of your assumptions were wrong. But then you didn't actually replace it with any real knowledge okay. And so that was fine until you started seeing f. T. everywhere and you realize that maybe you should learn what it means and also you have a podcast taping coming up so here we are. And it's not that ludicrous bro. Stay with me all right. Mitchell mitchell clarke wrote a delightful article on the verge explaining t so i'm largely relying on that also wired new york times and a few other places. Let's go all right. Non fungible tokens are essentially a way that you can claim ownership of a digital thing. So think music art tweets yes. These are all reproducible. But so is a postcard of the mona lisa. So non fungible tokens exists on a blockchain at this point. Mostly a theory but others are getting on board and there are online marketplaces like open sea bull and fifty gateway where you can buy and sell the official ownership of the digital thing again. We're talking music video. Art animated gifts for artists provides a new way to sell your work and you can also set it up. So that you get a little kickback. Every time the nfc changes hands with a new owner. Lots nice so right now. You're like bro. Why would someone pay millions of dollars for an animated gif when you can just download it for free again. Why would someone bhai a monet painting for millions when you can get it on a mug from the gift shop for fifteen dollars so it all comes down to the basic tautology that some things have value just because someone decides it has value now for some people the value might be bragging rights to that end. You get to buy an nf t fred digital drawing of a cat because you are looking for a new way to show people. You are wealthy for others. Value might be about your phantom or support of an artist or musician. Kings of leon grimes dead mouse and many others have released. And fte's for music and art and for others. The value might be purely speculative. You're buying the nf t for digital drawing up a cat because you think it will rise in value as many other people agree. They want that authentic digital drawing a cat. And you're like seriously digital yes. Ten years ago. A guy named chris torres created the animated. Meam niane cat. You know it as the flying cat with a pop tart for a body and it's leaving a rainbow trail behind as soon as you google. It you're going to be like. Oh cat i totally know what you're talking about. So in february torres created an nf t version and put it up for auction and it sold for nearly six hundred thousand dollars following a last minute bidding frenzy other f- tease out there. William shatner is dental x ray digital baseball cards photos of lindsay lohan. And the first tweet. By jack dorsey just sold for two point. Nine million. don't feel too bad because the proceeds argos support a charity. So there's that and if t. Are definitely booming right now with probably more speculators than collectors and fans driving up prices but experts looking beyond the boom. See a great opportunity for a new way to guarantee authenticity. So for example nike already has a patent to create. Nfc's attached to shoes to guarantee their authenticity. Called crypto. kicks so when you consider that. A pair of air jordan twelve flu games are worth more than one hundred thousand dollars. Yeah i think. I want an fte with that purchase. Please and maybe you're still skeptical like a bunch of people in the comments of the articles. I read but seriously. How is this all that new and different. It's not like people buy sneakers art or baseball cards for the value of the materials themselves. They buy them for the aesthetics. The design the rarity as the new york times quoted. Marc andreessen. ben. Horowitz a two hundred dollar pair of sneakers is like five dollars in plastic. You're buying a feeling and right now the feeling that. Fte's is similar to one a stamp collector or baseball card collector or art collector or fashion. Or even a speculator might feel. It's that feeling that you are special because you own something someone else wants.
Silly and Misleading Retirement Calculators
"I think the main reason people seem amazed at the idea of retiring at age. Thirty forty or even fifty is the lack of real information on early retirement. In general if you type retirement calculator into a search engine these days and enter some stats about yourself. You will find some very strange assumptions. That are guiding you to think you need an absolute load of money to retire for example. I was once working through such a guide in a magazine from northern. Trust a bank that caters to the wealthy. It went something like this. Consider your goals for retirement. What life events do you need to be prepared for. The following table lists average cost children's and grandchildren's university education. A hundred thousand dollars per child children's and grandchildren's weddings twenty five thousand dollars. Assisted care facilities a hundred thousand dollars per year. Medical costs funeral arrangements. Twenty five thousand dollars trust funds for loved ones esteem and legacy planning and charitable foundations. 'wow looks like you're well into the millions before you even get to buy yourself some groceries. Another retirement calculator on cnn. Dot com has various parts to fill out dropdown boxes pre filled with hand values like retiring at age sixty five and needing seventy percent of your maximum pre retirement income constantly for the rest of your life. The drop down box with seventy percent in it did not even offer a value lower than forty percent. This percentage of income concept is one of the most anti mustache ones out there if you make two hundred thousand dollars per year just before retiring this experience. Corrupt you so much that you need a hundred and forty thousand dollars per year for the rest of your life or is it possible to maintain the same luxury standards of a person who has a merely comfortable income like forty thousand dollars per year. This goes back to the ideas of the get what you need posting. I made recently and that is why not go for maximum happiness rather than maximum consumption. I propose that maximum happiness is achieved at a spending level where you live in a comfortable space. Eat healthy foods and get to do lots of active and stimulating things with friends. That doesn't have to cost a hundred and forty thousand dollars per year or even fifty thousand dollars per year for most of us the other assumption they push on people is a very low rate of savings they assume you will less than the annual limit on 401k contributions. And don't say much about what to do if you save more than that which the high income person mentioned a few paragraphs ago could certainly do so these banks and mutual fund companies will continue to tell you that you need millions of dollars to retire because it benefits them for you to invest your money with them. Luckily it's a harmless bit of tom foolery since the saving benefits you as well but the disservice they do is in scaring people out of dreaming to save faster or to think about much shorter time horizons like tenures instead of just plain old age. Sixty five so. I'll give you a quick retirement calculator of my own adult couple with no kids or whose children are. Grown can live very comfortably on forty thousand dollars per year and retirement. My own family lives very comfortably with one child on somewhere. In the twenty seven thousand dollar range you can shoot higher or lower depending on what level of luxury water pursue twenty. Two eighty thousand dollars is a good absolute maximum sane range. But if you don't want to calculate everything out just go for forty thousand dollars and figure out how to make your savings produce that for you for a single person. It might be difficult to slice in half because you lose some benefits from sharing a house in car but you can come close to quick early retirement budgets number one in early retiree couple lives on thirty thousand dollars per year. Earning five thousand of that combined in part time luxurious post retirement careers. The remaining twenty five thousand dollars per year is generated by their savings. Six hundred and twenty five thousand dollars of total savings are required to generate this amount of passive income using the four percent rule number two an early retirees single person leaves on twenty five thousand dollars. Earning ten thousand dollars on his or her many career. Fifteen thousand dollars per year is required from savings which calls for a nest egg of about three hundred and seventy five thousand dollars. I'm working on some much more detailed and exciting sample budgets using real numbers for my own spending experiences before and after retirement
Gas prices escalate, what to expect in the coming months
"It's been ugly lately and in particular. I paid attention because poorly timed. I made a prediction a couple of months ago. That gas prices at least in the immediate future. We're going down. And they did the opposite and as many of us have experienced around the country gas prices have continued to escalate and there are three factors at work right now. That are pinching your wallet. I we're driving more. I saw federal driving data recently. Because well i guess they have nothing to do in my life that i looked at how it it bottomed out april of last year driving stayed substantially depressed and then as soon as the vaccines were announced the amount that people were travelling the trips. They were taking all that steadily increased so demand for gasoline has risen. Second we have been a massive energy producer of in the united states from the canadian border to the mexican border in this swath from north dakota to texas and a lot of exploration and drilling and production all ground to a halt. When if you remember during the pandemic there was a brief period. People were having to pay people to take oil from them because the world was so awash in it. So people shut down their production and exploration. This didn't just happen in the united states had happened elsewhere. And then you throw in that o pack plus the evil putin russians are manipulating supplies. Right now in the world to try to push prices up so we've got these three factors all affecting your my wallet. The good news is that as the price of oil has risen per barrel quite a bit up. Fifty percent the oil producers in the united states are out an active again and the amount of activity going on is rising weekly. We are going to generate significantly more oil every week. It's already started and we will continue to do so so our ability to depend on ourselves for the lion's share of energy we need in until the pandemic being a net energy exporter instead of importer that that sleeping giant is waking backup. So we're going to feel pain at the pump for a number of months and then by sometime in the summer historically july fourth is the point at which prices top and start coming back down and this year may actually matchup with historical and said the pain. You can measure months rather than a likely long-term higher pricing trend.
A highlight from 04.16.21 Clark answers his critics on 'Clark Stinks' // No health insurance? Why now is the time to apply.
"With you on. The podcast never encouraged to speak. Think i'm pretty stupid. Should be ashamed of yourself. Maybe maybe you're right. Okay clark i could have written this one. But i didn't make it. Did he. said. I love the podcast and of learn so much from you. You're like the smart financially savvy. Uncle i never had. Would that said would you please stop moving around while you're speaking. Maybe i need my hearing checked. But the fading in and out while you walk on your treadmill making it hard for me to concentrate on the wisdom. You're trying to relay okay. Nate thank you. And krista has been on me day after day that i fuck you. Stand stand when i talk and i move too far from the mic. Then we're on extremely directional. Mike's that we're using for the podcast and so i will try to stay much more. Mike centered which christie. You're always telling me you're pointing the mic. Like hey remember you gotta talk into this thing. It's not like i am been on a microphone since nineteen eighty seven. I should know by now. You talk directly into an audio mike. So i'll try to do better okay. We knew some. We're going to be coming about taxes. I think when you talk about taxes and how the rich do not pay their fair amount. I think you should look at the facts. The top ten percent pay fifty percent of taxes. The bottom fifty percent pay three point one percent. I'm not poor shaming here like you rich shaming but who is getting a better deal on our tax system when you talked about a flat tax. You said the average person would pay ten percent. Which if you looked at the stats you would increase the amount. The lower fifty percent would pay by six point nine percent. Please stop getting your information from your heart and look at the numbers. Thanks justin justin. Thank you for that So justin report. After report year after year that the highest income earners avoid paying taxes in anywhere near the percent that mass affluent pay the top twenty percent of income earners pay a substantial amount of their income and tax. The top one percent tend to pay a lot less and the point one percent pay much much less as a percent of income tax code has been gamed to wear the wealthiest among us avoid paying a reasonable income tax rate while those at the higher end of the income level but not the very wealthy do pay a very fair share of tax. So the reason that you hear me talk about the modified flat income tax is i know of no other way to capture a share of income for taxation of the very wealthiest among us the top one percent and your point being made. Is that a lot of people in the bottom particular. Bottom fifty percent of income earners pay essentially no federal income tax. Say you come to. The average of three percent so with the standard deduction a lot of people will not have to pay income tax in a typical year. And it all averages out that the lower income earners pay effectively a very low federal income tax rate that would still remain true with the modified flat income tax because he would still have the standard deduction. My big concern is not with people who make a really good income. My concern is with the people who make the really giant incomes who were able to hire the lawyers and accountants and avoid paying tax at a rate that they should. This is the follow up on a question. You answered on the podcast. last week. I wrote to you with great confidence in getting solid financial advice about my wife stream of having a pool instead one of my most trusted allies sided with the enemy and advised us to build that pool. Twenty twenty one will now be remembered as the year of the mutual fund massacre. You advised us to compromise so my wife was willing to shave off a few thousand dollars to save more money. She agreed to let me fill the pool with my tears of sorrow after as a planner for the future. I do not have. I do have one more requests for advice once. The kids are gone in the pool. Inevitably becomes an oversized flowerpot. What kind of flowers do you recommend. I'm thinking day lilies azaleas or maybe most fitting some black. Dahlia's what are your thoughts. Mike mike i am so sorry. I know you're counting on me to to really turn against your wife on this one but when you presented the argument that was really presented as a way they. You would be the winner. I couldn't find for you and this one. i mean. it's just terrible because you were coming to me to reinforce your position
A highlight from 04.15.21 House mania hits the nation - A revised Clark smart home buying rule / Extended service contracts - what kinds of coverage do you really need?
"House mania has hit the entire country and there are certain price points most anywhere in the united states very by market where the second home goes on the market. It gets multiple offers and a lot of these stories. You think our fish stories. No somebody really didn't get eight offers within a day of their home going on the market but believe it or not stuff like that is routine and buyers of homes right now feels squeezed between a rock and a hard place because you're having to pay effectively a significantly higher price than what homes were just a couple years ago. And you're nervous. And i get that because there are a number of factors that i've discussed with you on prior podcasts. About why home prices have gone up like they have one is the very low interest rates but the biggest factor just to review is that after the the process of the real estate bust the banking scandals that led to the real estate bust led to all those foreclosures and all the rest from two thousand seven to twelve a major part of the home builder's in the united states went out of business never to be seen again and so the capacity to build homes in the united states is way below. The numbers needed just for household formation. In the united states. We have a classic supply problem we also have an issue with land availability and the cost of land and in more and more jurisdictions the junk fees that are added into the permitting process. One thing with this is that buying used homes has a bigger advantage right now than normal even though all holmes new and used or inflated in price the greater problem and price points is with the new homes builders have been paying more for materials. They've had difficulty finding labor paying more for the labor available. They may have paid more for the land. The impact fees. All those things have added together to give a meaningful price advantage right now. More than i mean forever. I've talked about the advantage of buying used homes versus new. But right now the price advantages so much greater for the us. Tones and yeah. They may not look up to the minute up-to-date but the value per is much greater with that used home than that new. And i know interest rates have moved up some but by historical standards. They're still fantastic. I mean i'm old enough. That i remember when mortgage rates were eighteen percent and today people are like wait. They're not two point eight seven five percent anymore. Three point something percent. Let me tell you that. Still really good but the most important decision for you to think about in buying a house right now is the ownership cycle. You intend to have. You will have heard me historically talk about when you buy a new home that you should have an intended ownership cycle of seven years or more and is upset with condominiums through the years ten years or more the irony of that is that generally people buy condos by them with an intention of owning a shorter time than owning a home where the economics say.
A highlight from Inflation, the National Debt and the U.S. Dollar - What Could Go Wrong?
"Walk on the money for the rest of us. This is a personal finance. Show on money how it works. How to invest it and how to live without worrying about it. I'm your host david stein. Today's episode three thirty eight. It's titled inflation the national debt and. us dollar. What could go wrong. I've done a lot of episodes on inflation on the national debt on how exchange rates work. Us dollar central banks. I keep going back to these themes because there's some strange things going on and these are important concepts understand and to link together as we guide our finances. There's a lot of worries out there. And there's some conundrums lake the fact that housing prices are up double digits yet. Inflation and us as measured by the consumer price index is still less than three percent that the federal government is issuing trillions and trillions of dollars of new government debt. It interest rates are rock bottom that the money supply has increased over twenty five percent in the past year as money flowing everywhere yet. It's not showing up in inflation measures such as the consumer price index in this episode. We're going to connect those things together and consider what is it. That could go wrong where we could see inflation. Spike and the return on treasury securities be negative. Last october i released an episode titled how to buy and hot housing market i described lapel and is quest to sell our house in phoenix and by one in tucson since then the housing market has gotten even hotter than median existing home price in the. Us is up over sixteen percent year over year. The house we sold in phoenix. Zillow estimates is now. We're ten percent more than what we sold it for. This past november houses around the us are getting multiple offers. Many above the listing price and often the buyer is paying cash one reason the housing market is so hot is individuals want to move. They have been working at home through the pandemic realize the either one a bigger house or they're not going back to the office and so they wanna live in a less expensive locale. People are leaving. High cost states like california new york and new jersey and moving to less expensive states or states with better weather arizona. South carolina florida and idaho at the same time. There's been a limited supply of houses. New housing supply was disrupted because of the pandemic so there were not as many houses started during the early months pandemic and it's taken builders longer to get back up to speed. This housing advance is different from the housing bubble in two thousand six and two thousand seven. It's not debt. Fueled back in two thousand five near the top of the bubble mortgage debt increased fifteen percent year over year but for the year ending december. Two thousand twenty home mortgage that only increased four point three percent even though housing prices are rising at double digit rates.
A highlight from 04.13.21 Online Privacy: Clark tests out a Brave new browser / Save a ton on your vehicle loan
"The web. Well it's because you are. I'm going to give you a couple ideas where you can take control of your privacy. Also i want to tell you about a new option. If you're in a too high car loan a way for you to get out of that thing so when you have an opportunity to surf the web you were being tracked all the time all over the place but there's a react to that and there's now browsers you can use an extensions. You can use with existing browsers which will help protect your privacy a whole lot better one in particular that i have tested for a number of months is brave the brave browser which you can download as an app on your smartphone or you can download is the browser to use on windows and mac. Computers gives you the ability to block all kinds of tracking. Now everybody's got some kind of incognito mode or private browsing or whatever but you want real teeth and that you're gonna get it with the brave browser. The browser is very very streamlined. And simple to use and so it shows on here. That as i've served with it it has blocked three hundred. Forty two trackers from me three hundred and forty two and the other thing is that it saves time because trackers slow you down and it shows how much of that it saves so it is something you can consider and now the duck duck go people have attack taco is of course no i mean. A lot of people aren't familiar with duck duck. Oh which i've been raving about them is a search tool for as long as they've existed because they don't do all that spying on you will. They now also offer browser extension. The he can use with google chrome that helps protect your privacy and they offer their own. Miniature browser is well. And i know a lot of us. Tell pollsters how worried we are about privacy but very few of us actually mean it. You know we say it. But we don't actually do it and so it's not that hard to use a different search tool or to use a different browser and once it becomes automatic for you. You're going to get yourself more privacy. And maybe you're not into that you're not into that fine but if you are into that then well think about it and you look at the moves. Always pick on. Apple is i. Don't like some of their practices but apple is really making a big effort. That i talked about recently to provide people more privacy with the apps that you have on an apple devices and i think that's great as well where you get to choose. Yeah i want more privacy or no. I don't instead of automatically being put into an environment where people are spying on you facebook. Or what's you know. I deleted what's up. You haven't deleted what's up yet. Have you know no. I soon as i knew what facebook. Everyone's sorry i just feel like everyone's tracking me. So i'm just up i've given up i don't give up you know that's not my style. It's usually not mine. But in this case i give up. I mean you are such a perfect person that there's nothing ever worry about with anybody spying on you. But if you're a person like me with all the if i start my drug dealing with a so if you do want this though if you want the privacy i'll tell ya i of really loved brave and give it a try. And if you think clarkson idiot this thing's no good at all then go back to what you're doing. So krista who have questions from will sunny says. I have a new job offer. The company will not provide a 401k in two thousand twenty two but will provide something called a deferred compensation plan. I've never heard of that. Can you please help me understand. What deferred compensation plans are. If i don't have a 401k option what am i. Choice is to stay for a tournament and get tax benefits sunny usually deferred compensation plan is. What's known
A highlight from Get Ready to Live to 100 If the Robots Dont Take Over First!
"That you believe in and hold onto them as the stock price might hit some bumps and blips at the whimsey of the market. Oh wait there's an asterisk to this. We also think index ones are great. If you don't have the time and temperament to invest in individual stocks than set it and largely forget it with a well diversified portfolio index funds. Well it's a great option. So index funds are great but on the other hand are index funds of the devil. So his talked about the basics and history of the index fund on the show before. But let's just remind ourselves. Index funds were the brainchild of jack. Bogle he's the founder of vanguard. He added that mutual funds at the time charged exorbitant fees and delivered lousy returns. What a great combination. His idea was that instead of paying a premium to a money manager who tried to beat the market by choosing stocks. Him or herself. You could just pay a much smaller fee to someone like vanguard who will simply mirror an index like the smp's. You'll likely come out ahead. Because the actively managed fund needs to perform even better than the market something. That's already hard to do. And make up for the higher fee. They're charging you so. I launched in the seventies index funds. Took a while to gain steam. But according to the atlantic's eighty lowry. In an article titled index funds be worse than marxism. She writes by two thousand sixteen investors worldwide. Were pulling more than three hundred billion a year. Out of actively managed funds and pushing more than five hundred billion a year into index funds some eleven trillion dollars is now invested in index funds up from two trillion a decade ago and as of two thousand nineteen more money is invested in passive funds than in active funds in the united states. It's easy to see why money is flooding into passive funds. Only a quarter of actively managed mutual funds exceeded the returns of their passively managed cousins in the decade leading up to two thousand nineteen according to morningstar but is anti rights for the atlantic any lowery. What might be good for retail investors. Might not be good for the financial markets public companies or the american economy writ large pork. So what's so bad about index funds. Well like most things in life. Too much of a good thing can be a pretty bad thing so while we are there yet. Some are concerned that in a world with exclusively passive investors capital will get allocated only to the big companies and not necessarily to promising companies. That's because passive investing doesn't ask questions on earnings reports calls passive investing. Doesn't listen to gossip or have an opinion on a new. Ceo passive investors are like cats. If it fits. I sits so the fear is that as more money moves into passive investing at some point it creates a feedback loop of money piling into the largest stocks of an index which entrenches them even deeper in the index which means the index funds have to buy more of it to match the index. All of this somewhat unrelated to the current or future success the business. I should probably pause here to explain. What market cap weighted means if an index fund is equally weighted. It means the fund owns the equil- dollar amount of shares for every company in the index. Every company has the same weight if it is market cap weighted. The amount that a is represented in the index fund depends on the market cap of that individual company so to figure out company's market capitalization you multiply the number of shares by the share price so amazon's market cap is one point six seven trillion and macy's is four point eight five billion if both of these are in the same. Let's call him a consumer retail index fund. There's going to be more amazon exposure at macy's all right about twenty percent of the vanguard. Five hundred index is invested in five companies apple microsoft amazon facebook and alphabet five of five hundred stocks representing twenty percent of the funds holdings. So let's take the addition of tesla to the s. and p. Five hundred last year. The price surge. Seventy percent after it was announced that it would join the index because every index funds based on the s&p five hundred would have to plow a ton of money into that company's shares which would drive up the price which means market cap weighted would need to add more of it to the funds up goes the price which means market cap weighted index funds need to add more of it and around. We go anyway. That's maybe the most obvious. Concern with index funds is something to freak out about. I don't know there's some other things you could freak out about another concern. That's a bit more. Controversial is the impossible impact of common ownership. It's the thinking. Here that index funds tend to own all of the big players in any given industry and therefore investors who own all of the big players tend to care less about competition between the companies. They are all their favorite children after all so if you only care about the whole industry making more money than one easy way for the whole industry to do that is to raise prices for customers as an industry so whether this is actually a fall out of common ownership is up for debate. One paper showed that common ownership of airline stocks had the effect of raising ticket prices by three to seven percent and the Atlantic article points to research showing similar effects. In the pharmaceutical and retail. banking industry's. Black rock disagrees but then they are one of the big three. While the money and index funds has gotten very big. The players have dwindled in numbers. Many financial institutions offer index funds with the
A highlight from 04.12.21 New strides in financial literacy / How Emperor Clark would fix the U.S. tax system.
"E. The wise cam is the breakthrough product and low cost security cameras and wise offers the ability for you to record to micro d. card or to pay them to store data for you for an extended period of time. The wise cams offer various levels of sophistication starting at twenty dollars a camera. It is the lowest cost security camera system. I'm aware of in the country. And when they do have deals on wise camps we post them on. Clark deals dot com. And bobby i did. I say w y z e because people look for it and they can't find it they don't know how to spell so this is a y in place of an eye and bobby in washington. I'm working on paying off my mortgage early. Should i pay the additional principal with monthly payment or separately before the end of the billing cycle. I want to maximize the benefits of my digital principal payments. Bobby we had another question along these lines just recently as well about how mortgage interest is calculated the united states.
A highlight from 04.09.21 Clark answers his critics on Clark Stinks / A great new employee benefit goes toward education costs.
"I do everything. I can to give you the best advice that i came. It comes through my head and my heart is i want to empower you so you can take better control of your life but there are times the advice or information or opinion i give to. You doesn't ring true or is just stray. Were on and that's why we have. Clark dot com slash. Clark stinks so i can learn from you where i may not have the whole story or i'm just missing the boat and then once a week krista goes through your posts on clark stinks and shares highlights with you right here on. The podcast should've never encourage to speak. I'm pretty stupid. Maybe maybe maybe you're right. These first two are near my heart. Kark verse one. From frank says the eco-tank inc does not cost about ten dollars. Ll it is over fifty dollars for the genuine replacement set. Try to keep up. And then peter said. I love your podcasts regarding epsom printers according to consumer reports my bible whenever i purchase anything in their june twenty nineteen issue on page fifteen. They stayed because of consumer data. We received about our poor reliability of epsom. Printers we no longer reprimand any apps and models so krista. Did you write in as both. I did not eater. I did not you. Didn't i promise. Okay so the epsom printers. Well they been Interesting story because i love my epson printer because the does cost me basically like nothing. And i bought my epsom printers at costco so they come with this huge supply of ink and i run that printer to death and i've never had to actually buy inc. So maybe it is fifty dollars total for all the Four eight colors Let's see magenta bob bob. i'm black. whatever the other two are anyway So the absence as you said consumer reports really likes the epsom printers. their readers. don't because reliability issues. Although i haven't experienced that krista you experienced everything every form of reliablity problem. You could with the epsom printer and then you took it to the top of a building and dropped it off now. I'm still using it. I thought you got rid of no. No no we use them at home. We use it at home. And i use it at work. Also consumer reports has a new right up on them and says instead of buying the absence by the cannon mega tank line the cannon mega tank line line comes in different price points. The cheapest one is only one hundred and ten dollars then. They've got a super fancy when that's three hundred dollars and then they have another one this even fancier at three hundred twenty nine dollars for consumer reports subscribers. You can see the specific models. The beauty of these is the ink is not really a factor for your wallet like it is under the hewlett packard business model on a recent show. A car was trying to get a rental car for vacation and was shocked at the price of one. You suggested instead. He taken uber to an internal rental car place. My family went to san antonio recently. We took the city buses everywhere for twelve dollar week pass per adult and even less for kids under twelve. Total cost less than the price of one uber. Everyone riding the bus was masked and there was a writer limit of sixteen people per bus and social distancing spaces. Were clearly marked. Making bus. travel still