20 Episode results for "Eighteen Thousand Dollars"
What We Do About Late Payments
"Hey there I'm Eric Olsen. I'm dave join us on our journey to building. We are one hundred million dollar company. Hey there it's air Jay Olson in business. When you are done doing some work you send send out an invoice and the invoice has was called a payment term with it? The payment term is. How many days you allow your client until they are supposed to pay you on that invoice? So this is a system. That's called accounts receivable because you are waiting in to receive accounts which is basically money from your clients. We track all of that. Of course down to the invoice is level and down to the client level and we have a couple of goals in a couple of processes that had to do with our accounts receivable the higher your accounts receivable double the more money. You don't have that you've already earned your goal. Should be to always reduce your accounts receivable to the lowest was level possible. Now you don't do that by not working. You do that by trying to collect as fast as possible in an ideal world you'll get paid up front front before you put any effort into the work. That's perfect and we are moving towards that. It's what I call here. Net zero now. What that means is the net net zero or at seven hundred? Sixty is how many days you give your clients in order to pay the bill. I WanNa be a net zero bill. Which means that on the very first day of the month I build their credit card or a hit their bank account with Ach and we get our money and then we work the rest of the month? That's what we're doing doing for all new clients but we have existing clients that are on terms. They're on payment terms we send him an invoice and then they have so long to pay us back. When I first started working for myself I followed the model that the government had in place for his contractors which is net thirty so once a month bill after doing the work? So let's say on January first. I would work all of January and on February I. I'd send an envoy saying hey here's is what I worked in January and then they'd have thirty days to pay me back so I want to really get my money until March first roughly right all right so I'd been working since January and I worked all of January awaited all a favor and then I finally got paid for January in March arch. It's a long time to wait and what that means. Is You have to bank. Roll your operations when you're a one man show. That's not a big deal and especially if you start with a little bit of money in the bank back but the moment that you have a crew of people and you're paying for salaries and you're paying for office space at Electricity and Internet and all that stuff it becomes a real burden so oh you want to bring that down. I got to the point where it was net fourteen. So after giving client the envoys I started to get I paid in fourteen days. I got to that point very very quickly. Now we're at net seven so we're at net seven four. The people people that are quote legacy and cl- quote people that have already been on terms. We've already agreed to terms with them. Week Hugh track back exactly what our accounts receivable is in a KPI key performance indicator dashboard and we review that in front of the team. Once a week recon Wednesday we review how much we have outstanding in accounts receivable and we have a goal the goal I think without looking at the KPI dashboard is fifteen. Eighteen thousand dollars is typically about twenty twenty five thousand so we're constantly trying to do whatever we can to get paid quicker whether it's emailing the Kleiner liner reminding them of the invoice. Send them a NAG email whether it's hitting them with the leafy so we have a full process where we will hit our clients with the late fee if they don't don't pay on time and we've got a escalation process. The first day that they're late we sent him a reminder. We give them one more week and then after that a week later we hit them with the late charge and we tell them we nagy again. Hey your invoices late you just get hit with the late charge. And every week thereafter we assess late fees because we want them to feel a little little bit of pain we do not want to be at the back of the line where they're paying off their credit cards or something else in front of us. We want to be paid before anyone else. Frankly so so. We assess late fees for that reason but even better will we really want and we're going to get to is everybody pays upfront either by credit card or Ach again your accounts. Receivable your goal is to keep those accounts receivable as low as possible the lower. They are the more money you have in your bank account to payroll your business and cash is king. You need the cash to grow your business. Thank you for listening. Is it time for your your website. If so we'd love to help you out. Check out our website services at this is the Ray dot com.
Of Emojis and Innovation
"Hi everyone welcome to the a six and Z podcast tonal this week were resurfacing one of our favorite episodes of all time all about emojis is timely not just because a whole new set of emojis are about to hit many people's phone soon but because the episode which was actually first recorded in two thousand fifteen is really an evergreen and broader conversation hey that matters especially when it comes the machines reading emotions and finally we talk about the ambiguities and difficulties translating Emoji when it's not really meant to be which our guests are Fred Benenson who was the second employee at kickstarter and VP of their data he also famously kick started a project to translate Moby Dick Entirely to get the tumbling emoji which is where we briefly start this conversation I wasn't a really big Emoji user in fact the first time I ever heard with Moju was when the design and much more we begin with the brief tour of different Emoji and how they came about where Emoji fit in the economy visual and social communication and AAC okay Emoji or universal and then dumplings are universal how could there not be a dumpling emoji and just in my mind I would just like people send it to me if it's not the obvious heart you know etc but as I've been using it more I found myself serve expressing myself now and kind of quirky ways and I don't know if people really get it or not but so many obscure Japanese food emojis Emoji are from Japan like you have you know everything ranging from Roman to curry rice to Tempera to like the the Fred started his kickstarter called Emoji Dick and I was like what the fuck mood this is before they showed up on our iphones like perky little yellow faces I was like what is like sounds something very bizarre I started I didn't even actually just be blunt I had a very hard time using emerging because I didn't quite understand how to even frankly use them I don't understand showed up on our iphone and I'm taxing with my friend being Lou whose best known as the designer of the twitter fell well so we're texting back and forth about like dumplings and so I sent her a picture of the dumplings I'm making Cossa and empanadas like food from around the world I mean technically most is doubling Somoza Ravioli and I was like the into Emoji and Jenny eight Lee former New York Times reporter who was a member and is now vice chair of the Unit Code Emoji subcommittee she I led the effort it was like how could there not be dumplings right because Sasha universal food right 'cause there's like Perogie and Poland and Momo's and clearly whatever system in place has failed how do you solve a problem like the dumpling yeah out that Emoji are regulated by the Yuna Consortium which is a nonprofit organization it definitely see it being like sort of a irreconcilable differences between people in relation fast forward many many years Emoji soft and semantic than of the other three full voting members one is a German software company sap another is the Chinese telecom company Hallway and impacted by this as amazing were there other proposals submitted at the time constantly proposals there's this whole process that people like Jenny some of them make it through and then she texted me back knife and fork knife four yum yum yum yum yum and she goes wait apple doesn't have a dumpling Emoji I was like how bad be I was like because you're so we're they say okay here's what we're looking for Emoji it's gotTa have like you know kind of a unique meaning in that it's not covered by other stuff but it also should have like you know so many Hatton which means that the that's announced in June of two thousand seventeen into they'll actually hit your phones several months after that I was like wow billions of keyboard the Easter island head is kind of a violation that one but that's got its own story a couple years ago with a big update the Easter island had showed up in the back of the travel section statue in downtown Tokyo I think it's a station that is called Moyo I which is a name of just like a proper noun that statue which was made in January of two thousand sixteen we submitted a proposal for dumplings takeout box chopsticks and fortune cookies and got those all past this'll be new coat the more I am og looks like the took station one so fascinating I read a study is included in our newsletter months ago of someone comparing how emojis look on different plans ah out of it that's the fun of the brand new should me exchange between a friend of his WHO's dating a guy and he would only send her Emoji when young and like diverse it just randomly shown up and so I in that process learn how you get Emoji past and how they're regulated and so Jason Mountainview California it now has twelve full voting members pay eighteen thousand dollars a year to set to vote on issues including like Gee and other other send your friend a Emoji and their cell phone would would actually just render the incorrect one it could be so much worse than the fact that there is a standard means that you only get the basically depending on who their partner was locally they kind of inherited those generations of emojis spring sample on apple women with years is like it's good useful bars actually for making sure quality gets to their credit the code consortium has an amazing list of emoji criteria I in mountain view necessarily so those twelve nine are US multinational tech companies oracle IBM Google Yahoo Adobe facebook and she was like I just can't I can't handle the scrooge there exchange and it was hilarious translate up in Japanese cellphones and that's why I ended up in Emoji the artists used this inspiration of Easter island. The interesting twist is that when you look at it on the iphone it doesn't look anything like the stats we're coming what brings you here tell us about yourself if all like showing up at Church like a new church your new member they on unanimity well they're very excited there's some ah artist that was a reference to originally Easter Island head so it turns out Japanese teenagers use this way point to meet each other and so that's how it ended the government of Oman that's a really interesting crews interesting Kerr and they have these quarterly meetings and then I just shop and they're you know very welcoming like you thank you takeout right and so so in that one symbol you get a lot of sort of secondary meeting and with fortune cookies like it's technically a cookie but it also means like mysteries Oh hugh to the specification but you know people do their own implementations and things change in fact the whole reason why Emoji are in unit code was because Bermuda Triangle is just like who knows stone-faced other people use it for like still stoned right like there's lots of combination there the reason why it's in there is that there's a culture of Bunny woman which is itself a reference to the Playboy bunny and so they were cocktail waitresses working in nightclubs that made its way into the Japanese set worms and how it actually changes meeting you can actually think you're sending one thing and you get something else that's going to happen in any system that has standardization like you're gonNa try really hard to Mitch can have multiple meanings you can also just like Emoji to have one meaning but it really has to be really good one was going to be one meeting so for us the Chinese takeout box for example translation translation to sort of obscure the cultural reference smartphones map technically the same Emoji but it's like rendered sort of interpreted differently they like Emoji that through almost literal words and so- emoji represents this kind of reaction to that and the popularity of Moji I think is largely due to the fact that we need some other way coach when I did Emoji dig it was more of an experiment around crowdsourcing Emoji itself like I wasn't like so much interested in making a formal case that and a text culture right we we communicate via text our careers are run over email we read constantly everything we do is mediated future in the unknown and like Zoellick's or primary secondary meaning one of the criteria for an Emoji to get past is that it has to have a certain element of ambiguity to it so yeah emba duty so it's not just like literally one thing it could be used in other contexts also there is one of the more interesting rules which is no celebrities daddy's our logos whoa the you is that it's ambiguous and I've really come around to that thinking in this idea that the charm of sending Emoji is that it can be interpreted in a couple of different ways and and that's actually why we of expressing herself overtaxed if the pipes are so mechanical like phones and machine you no longer have the nonverbal aspects of this is actually repricing sort of this one of Emoji and I was like what is that doing there who's traveling to Easter Island so often beneath these and it Kinda stuck in my mind and then I started using it in this kind of like arguments we may we made is at its it's one it's Ni- conic shape it also symbolizes both entire cuisine which is Chinese food and also a means of eating which is delivered blue orange so one of the big lobbying efforts has been to fillon orange for the case of the Apple Bunny ears and the Japanese women that was a case where there was an intentional two women dancing in kind of like let's party kind of way with their bunny ears whereas on android it's just the head shot of a woman with many years and it's referencing the slightly misogynist part of Japanese get caught up in technology time we'll technically technology includes like sticks and stones so that does go back in time but in the context of this machine web that we live in the Americans go back to the nineteenth century as well where people were using colons dashes in parentheses to express like a wing it goes way back it's important to add and came over to America like I think apple must've been let's make this a little more fun one of the easiest things actually chewed got emoji passes showing that a vendor uses it another arguments for completion. The rice thing is on a stick two triangle rice bottle looks like it had a bikini wax also the the the fish cake which is the one with the purple were on chew in Tokyo at some point apple was like we're not gonNa make it like the Tokyo one we're GonNa do the original what android on the other hand there you and I will go further and say that a lot of people ask me why Emoji it becomes popular and I think it's tied to the fact that we now are just inundated with tax we live on emerging but there are code points assigned to Emoji which basically says you know when you when a computer sees this point they render it in a certain way taxonomy of representation about using literal text let's talk about where Emoji fits we have emoticons which are like a colon an apprentice and that gives you a smiley face or like but that that it's important to kind of represent around what's actually happening inside the computer because the emojis being sent a text if your computer support Utsa aid UDF sixteen culturally insensitive way to like reference some supernatural phenomenon. I didn't understand right like if I was in a coverage somebody and I was just completely flummoxed on that one palate to convey this kind of like extra lake limbic meaning that we want to have in our in our communications but we can't because we're just were texting all the time so to baked on then we have emoticons as part of taxonomy and then we have Emoji but how would you guys define Emoji it's Japanese drawing language EMOJI I don't have to Japanese but the Chinese manufacturer the software manufacturer when it's actually rented on your screen the the operating systems choosing which image to show you those images are actually stored in the same way that other a semi colon and apprentice in that gives you a wink using punctuation using is almost coffin ASCII ish right those aren't as well from the earliest references human element of the glimmering your I like the cheeky the blush on your cheek or images that does that you think about the amount of signal you get from somebody's voice on an analog telephone and when he hieroglyphs and other humans have had this idea for the medium and the technology is kind of like incidental glad you about that because it's so important to me that's just a standard way for your computer to handle tax on whether it's your phone or your laptop then it's being told render this Emoji but it's actually up to your Dander to unify all the graphical representation of different languages throughout the world and even non languages wings and all that kind of stuff emoji actually strip that out and all your communicating is like ll you don't actually know how sincere that laugh is or or that chuckle or whatever that person's trying to convey an so emoji gives us a much muggy and I think you know I think Microsoft actually just evolved to a new center was android I think it might have been Google android they just upgraded to make it seem a little bit more images are stored on your computer has little PNG files and so apple puts those on your computer on your computer chooses to render those which is why you may get slightly different you know man heard and say it's the it's the set of icons defined in unit code that represent objects and nouns and actions and the way that is actually why chopsticks Scott Pass fairly easily because we had like knife and fork oh so you know he's completion so it's not one tell the whole story bike stringing together tres operating system whether it's Osx or android or whatever to go fish out a little image and put it on your screen and said that image is actually controlled by the harbor bunch of now I just think that it's it's like their engineer you can't have ABCD actually one of the issues is that they're red yellow green using something called a quote zero with joyner which is basically an invisible glue so if you are sending that Emoji to someone else who doesn't have being debated for us is the need for a professional female Emoji right because one of the big problems right now on on the existing set of women as represented by Emoji is like they're only Gary Emoji ever the Microsoft Emoji or like blue and gray and they look like monsters at Hyde in neath your bed who in grave only were there not it's actually one emoji otherwise like man Mankin that is actually a compound emoji of four characters glued together Kostanic laws but as a woman the fourth thing is you can be as a role are basically bride Princess Dancer Playboy Bunny Oh that's it could be a language because of his still so early could've got there may be one day yeah but you could make a really good point they're like our language it shouldn't be of language the value Oh my God it just goes to show you how the pilot of course this is the politics of human life play out in these systems I mean the perfect example I was thinking of a rifle Emoji and the case of instead of Emoji you can actually start adding that sat without going through the code select example is the gay family emoji originally eggs weren't weren't Emoji amazing then political issue what they did was they built this kind of like Meta countries systems so that you'd actually be pairing these country letter emojis together so CNN would go together and then it'd be up to your phone to decide if you showed the Chinese flag they pushed that decision unlike moment of like hey did you see twitter's new Emoji right and so there you know these large companies are kind of like reinvading real strain take to be like like dark yellow skin tone part of the original Emoji is you wanted things that were skinned home neutral so apple normal like they'd gone from blue and the blobby ones yeah the android Google had bobby one for a while now they're doing somewhat normal ones the ability rendered I it actually unravels itself into like multiple character now what you're seeing a lot of vendors making compound Emoji so like actually went into places where this is is like weird edge cases they're sell some interesting vestiges of like the different telcos between oppong Google one was DOCO and the other was sopping still so-so soft house he's the Mo is not promoted Kahn or emotion or anything you just totally coincidence wow it's hard not to just shoot the unit code stand represent the parts of our lives that we feel passionate about it's because there's a finite POW age it's not like language where you can only you can kind of combine say whatever about how innovation comes about because we cover the tension between open standards versus closed and proprietary systems the economics of creativity the governance and politics I believe Apple Google and facebook Charlie Bell at Buzzfeed wrote a really detailed article investing us and about how they sort of help suppress as part of the unit code consortium the rifle emoji Kabila interesting because recently facebook chefs introduced her own Emoji and that like basically hijack Apple Modem so you can turn on or off but essentially really four roles for women to play compared to man you know man you can be a slew three can be at you know a policeman you can be tatooed of humanity whether it's People's relationships as or sexual orientation or skin color it's like like emojis never going to be able express that and so like how do you contain issue because one of the things that I noticed is that you an apple because I use an Android I didn't notice as you can press down on a thumbs up for example and then you can pick among fifteen different shade so you can take multiple communist whatever you get way more degrees of freedom to kind of pay yourself there's a finite number of food items that are to go in there and when you think about the vast like so many other places in Emoji the country flag stuff is super interesting because that uses kind of what Janis talking about with these compound Emojis UNIKA didn't actually want to decide which one it because they can afford to make their set be they want to avoid the legal liability of using apple say and see like they think they might have some slip into that entire system so there is literally a what they would call a code won't I signed each Emoji or sorry not every single one because a majority has a gun in right and it's like okay so how many more versions of that do we need an and and you're right it's it's absolutely political topic I mean that that issue manifest itself Oh right right Microsoft doesn't render it to the point about politics being kind of embedded in Emoji it's not just because these are icons that this thing that's like growing kind of has to grow as more and more people use it but also by definition has to be a finite list of Ikea and how do they handle the skin tone planet to be posed an Emoji is a character an Emoji is something you can put in the subject line of an e mail because it literally is taxed too soon the same way that Unicorn is kind of defined making that like political decision-making which flags to support off to the handset manufacturers so I've actually does something weird there they just show the they they don't show a flag they've they will replace they'll swap out all the ones on the twitter's have their own set for a while and so why is that interesting becky regulations here my guess is a lot of these companies are doing Google chose yellow but Microsoft's reason shows gray gray 'cause I was gonna say for Hindu like blues action not a bad thing in blue it's like a god the other thing is if you have aides to like pick a skin coach that's too you know by its benefits that's Patrick Skin yeah it's the same skin tone that dermatologists use to categorize being a kid when like you had crayola box I remember that the only shade you had there was like a new shade or like a new always Caucasian the CPI data represent my skin greatest story about this in some weird for me to say but like women's pantyhose like issue where they actually say like we're adding sixty Emoji a year this is unsustainable we feel like the futures in line images and that kind of breaks my heart as the first time I saw that I could find my skin color in a system and to be able to use it was kind of amazing and empowering and I think there's something like yellow light dark and then low that's an Emoji that's fabulous so now the kind of evolution is that we have the yellow for like all of the human face characters and then you can choose skin tones for some of them but it doesn't get at like more nuanced issues about like cultural and racial identity having to do it like proprietary ecosystem of that's okay but like you think about the stuff that really works and the stuff that really changes the future of the web and communication thinking about that I would totally agree I don't share your experience as that'd be as person on the other side and so it's funny for me because I don't Emoji Ashley Emoji those are just stickers images that you can text back and forth but again you know standards can you put it in the subject line in email and the ages forever then like you know you have no idea what is going to be on the other side if they can render the image stickers so Emoji Kim Kardashians what you need to do because she feels that that you have so much more expression and the ability to convey so much more with stickers than you do with Emoji Emoji doesn't preclude the use of stickers nurse some do everyone slack Thursdays Guy wrote a post about just around and I remember it was so meaningful because it's such a minor seemingly arbitrary thing but then it is true picture whereas there's a totally different type of face structure in different areas emoji probably won't ever have that amount of customization and Unocal gets this and some set of images that are universal enough that should be hard wired into the operating systems and enter basically can be crossed Eh for example last year Oxford English dictionary chose joy I always thought looked very hitters they're not gonna be able to interpret an image and like emoji actually have names and so in theory there's much better accessibility for Emoji for somebody who's who's visually impaired so facial structure or hairstyle features like that's a great point because one of the pet peeves I have is when I used to go to foreign countries and look at billboards it was glorified the aquiline nose the face it's all standardized standardization person because my friend Connie who wrote a wonderful posed on the topic of stickers argues that emoji are very limited owning their own Emoji and some of the proprietary open tension between standardization freedom of expression what do you make of this notion that part of what we're doing here is a son you know when whenever you start texting somebody who hasn't used emoji before they're choosing like the safest one going back to the idea of some of the companies a kind of a nerd standardization guy who like who really appreciates all the hard work that went into unit code and and the idea that it is a standard because if you're just sending in line images I mean secretary just images that you can pick from palate or I think you can insert apps you can look apply a sticker to an image that sits on top of it but you're in this kind of really also creating a more machine readable web in terms of emotional reading because essentially are now adding a whole new layer where you can codify people's emotions sentiment in ways beyond Gosh I only it's the thing with the is and it's like balling but that's actually faced with tears of joy and that is you know that because you know all these emoji they say the label Ashford put that in their word of the year was an Emoji they chose that was that it ended up as number one of my friends cycled emoji tracker dot Com all right that's right go system like we chat or line and you only have their stickers that and you don't you can't always transfer all these stickers across I mean also if you think about the accessibility issues around stickers right like she will using screen rate labeled data for sentiment analysis that's right machine readable data that is the holy grail of emotional sentiment under thing when I was at wired I signed a piece to a sociologist of an salinger because I wanted to coin this phrase the mood graph because we have an interest graph social graph you know sentiment analysis is really broken because you're using these these kind of stale rigid semantic definitions what's really interesting about facebook reactions is as you're not gonna get little square boxes as long as you're operating systems are fairly up to date well that goes in your point about the white generation is important because you're now giving up that you're in this proprietary I'm just a black and white like don't like the so much actually an not in the context of Emoji but actually facebook reactions yeah me too I used to assign and edit beds on this topic in fact one of the reasons there is that words have these degrees of freedom they can use they can be sarcastically and you would never know it based on the semantics and so trump thing to be able to codify this the sentiments have generally corley suresh rolling with human face and body so this is also why people agitates Diaz ties into this slightly dubious notion of the uncanny valley or if you WanNa try to represent yourself and you WanNa have configure ability around that it needs to be kind of crazy ah interject for a moment of someone who's been tested tested a million of those systems and can never find one that actually works for my knee needs there's binary you don't get anything useful you're not getting oh all kinds of other graphs that link all these nodes and ideas and now like a mood graft essentially be able to put your pulse on someone's mood something very finite yet constantly changing it's just a fascinating Diane really interesting topic because if you look at traditional sentiment analysis in the data world it's kind of a joke you have to have training data you have to know good cases and Emoji Checker with checks all the youth of Emoji and for a while it was like the heart Emoji or something or just the smiling face Emoji so I think it's really interesting when the when the top emoji shuffle because platform bet in Iowa device can talk to you know Microsoft Windows and convey to you like an android device can talk to your Mac locked up like the fact that at least Wpro here and so I think people really love seeing themselves represented emoji which is why bit Mojo which is highly highly highly customized stickers in sort of emoji spirit you know you think you're saying I love this thing or I'm sad about this or I'm angry about this what we're actually doing in conjunction with that is giving facebook really wait mail I'm a white guy I don't share that sense of identification with the bright white skittling fuels odd to that which which speaks to my privilege as a white male where as you can't you can't so therefore qualifies Hernando the Mickley Emoji and then go back going back to our hierarchy we went from me motor Conti Moji now stickers sticker in line so much for Emoji that looked like themselves like the redheads and people would beers and people you know who are who have like who are bald anyone curly hair people with earlier relate to other people mm oh gee that's kind of happening I agree in fact this is going to be a little sound like little out of left field for a moment but the whole notion around the tobacco lady when you know that was the most popular facebook having so uninhibitedly it's a fact that it took putting on and then taking off the mask for her to do that which is a lot not unlike what happens with communication through filters video ever it got like unprecedented views simply women who was trying on her tobacco mask car and she's laughing and giggling about it and she puts her mask on and then she takes it off and perform the fact that snapchat bought it I think you're million dollars right especially given the bear changing this culture of how you express yourself through your facial expressions with face oh interesting it for any career field but I think that there is an interesting moment now coming together with selfie stickers emoji bit Modi's altogether where we do have this new emotional webb laughs so uninhibitedly it's insane and I make the argument that was so empowering because it was totally took off for obvious reasons is not the fact that she was and I'm like should I be choosing that what is the yellow skin tone that's your way more customized is I I often send four Emoji and yet you're saying that you've kind of all thinking that you know that emojis not necessarily language but clearly it is a visual language and it is a tool for communication it's not complete it's amazing amounts of diversity around the amount of stuff you can put on your case it's this weird convergence on identity and like that I mean if you're not exposed to the bottom line is if you're any person of color you're always wear your colors right and so if you're in a contact right windows is not this color and so when I took somebody friends who are not why Jewish for it to be believable I think what we're seeing with snapchat filters and he played with snow yet let's take snapchat filters and just multiplying by thousand it's like popping in filters county and I made the argument that sort of like a new like self us is selfish as a form of stickers so what we're talking about the machine-readable little distinct than this but it's sort of an interesting oh and my cousins and a bit more John what's up all the time I think there's something really symbolically important about that because you are putting yourself in it and conveying in this study ten thousand sentences and okay well I don't WanNa do this hire somebody to do this and I was like experimenting with Mechanical Turk at the same time I think it was like one of the original Amazon web site at Indiana using Emoji for some I thought about this could be kind of like putting on a mask over your self to your your words to they were good first of all what did they what do you mean you did the first chapter like did they break it down word by word so can capture emojis do it as and being able to now express yourself through these cartoon like weighs on your way it takes me back to like theater and like Shakespeare in seventh and eighth grade I remember having these really intense veigh to yourself this like this extra this this kind of additional layer this emphasis of your emotions that you otherwise might not get the going back to you writing an entire book a basically a Japanese APP and it would awaken your iphone to the Emoji Keyboard Carmelites like you have to hack the iphone to get the special the IPHONE SDK and basically hacked out the P. and G. files from the software kit to basically have the RAW emoji in image for him and so I on a percentage basis and that actually to be one of the challenging parts of the project was like splicing sentences is actually a classically hard and natural language processing problems Turk worker chose was like telephone men with face sailboat whale Emoji for the rest of it was just like indices discussions about like what it is to put on a mask the mask representative billion-a-year Joseph Cambell like Math Roy myth and the man you're right there's a theater SMS why people say Improv is Wale Emoji were there at that time only the only thing that you want your boss have is battling but you know a couple of other people have done an experiment here they're using it off label I had made a task mechanical Turk just ask Turk workers I'm GonNa try this thing we're going to hire people to translate moby Dick into Emoji some portion of it and see if this works so I did the first chapter in the results came back and they were hilarious they're so good Mitch translate their book into Emoji without a lot of effort for a moment I thought about the Bible and I was like that's too obvious what's what's like totally even more inappropriate tim everyday games I and it's one of those things where you told to somebody and you can't do that that's crazy and then you're like well the fact that you just said that made me WanNa do not there are not one but two dick and I'd say hundreds of copy and probably like five or six hundred copies of it have sold since then which is not a lot another like eight or nine months and then you know published it on Lulu Dot Com you can still buy it gets printed on demand and don't buy I've sold like thousands of dollars of emotion full-color one which is obviously preferable because emoji colorful but when you're printing on demand eight hundred pages of color laser hard bound asking you say pick any of these EMOJI and actually wrote my own little emoji picker because these things an exist at the time I had gotten the Emoji from a friend he had reverse engineer have people translate the same sentence multiple times so you get three different emoji translations for one sentence and then have another set of tasks where people vote on the hey so I kind of figured out a hack to like chop it up and I wrote a lot of regular expressions to basically book in two sentences but you decided basically the sentence a unit of analysis the cover of the book if you go to the website it's like being emoji deck EMOJI DOT COM or call me Ishmael is the first of Moby Dick and the Emoji that services it was like I it would later become part of that aws mit people using it for research and it's it's still use for research it's stolen valuable for that it's somehow listed as a translation of Moby Dick's when you look up Emoji Dick it says all these libraries have it because it's religious saying that they have a translation they have the original movie and just made like a little Java script like Hmo and dump that into Mechanical Turk and came back and I was like hey this works and so I think the the the sentence that's kind of like on Banksia well two copies there's a black and white copy which is like the easy to print one and that's like twenty or thirty dollars and then there's the like I just came back from seeing Hamilton and so it's a little bit like the idea of putting a wrap to like the founding fathers soap mediums and time culture on second one the second I think it's called sperm whale until later so I was like okay wow that'd be really interesting to all of Moby Dick because it's also like really long I mean it's you copy it's actually really expensive so that thing cost like one hundred and eighty dollars right because you're not pinging in bulk is actually saved money when I have to sell at one for that much and like yeah so I got a text from my culture may whose wife is Japanese he sent me an Emoji now is that they told me you could download and what you hack it on on so our big news this week is not in November in San Francisco we are going to throw the first ever Emoji con order like Japanese icons and I was like what the Soviet I was like this is amazing I should write a book and Emoji and I was like Oh that's a lot of work I don't know if I could write a whole book Emoji or like the Ghost emojis so it has many different elements to it so one is definitely service whole emoji learn aspect where it's like panels and talks enders for Bowl emoji nonsense and some of the people were just like all right give me my five cents I'm GONNA click some random Emoji and other people just like click every single Moji so the plan became ax day and ended up working for them and the commission the Campaign Amish made of the Campo goal was like thirty five hundred and a raising thirty seven hundred so I worked on it for you know nights and Weekends Moti Film Festival and then there's an
Equal pay is the goallllllllllllllllllllllllllllllllllllllllll!
"Support for this upcoming episode of today explained comes from kiko kiko is for the children the children of all ages kiwi co is offering today explained listeners the chance to try it for free right now at kiwi co dot com slash explained that's k i w i c o dot com slash explained the usa women are having quite a world cup recordsetting setting domination on the world stage he was willing to take big three clear i say they win team knows i'm wondering if i go i don't know why the white were not gonna be invited i doubt it but the team was making headlines months before the tournament even starting today in a stunning move on international national women's day all twenty eight members of the team filed age gender discrimination lawsuit against the uss soccer federation the lawsuit alleges that your soccer has been discriminating against the women's national team for for a long time on in institutionalized basis meaning sort of built since the way that you watch soccer operates caitlin murray follows the team for a living literally and figuratively she's in france right now an she's written a book about and there are really two components civil lawsuit there is be idea of equal pay in compensation in that is be more complicated more difficult parts understand you know the women are alleging that they are being paid less than men the women also negotiators different different contract on the men were they get salaries but the men are paid purely through bonus so what equal pay looks like it's a little complicated what isn't complicated are these non compensation issues that come up in the lawsuit things like the men plane on natural grass where's the women have to play their games on artificial turf in soccer players say that artificial official trip is harder on their bodies and harder to recover from the men being flown on charter flights per their games where's the women have had spy on commercial flights in that being more of a burden for them to be able to compete at a high level so i think the catchy thing that everyone sort of glommed onto and had been talking about is this idea of equal pay like i said it's sort of new when it's sort of difficult to define what exactly exactly equal pay look like what is the disparity between pay look like well do we women are kind of describing it is that more compensation overall is being made available available to the men went into look at the way they used teams are funded we need to look at the way are safar coaching staff are medical staff is funded we need to look at promotion and branding and marketing and sponsorship all of that and until we do until we have equity inequality of of the men's and women's team on both sides we can't really say automatic isn't alone make this even though the women get salaries a moose the players get around a hundred thousand dollars each in salaries even with those salaries third total compensation ends up being less and the men the men get such massive bonuses if each team played end one twenty nine tournament games a year female players would earn a maximum of ninety nine thousand dollars while similarly ranked male players would earn an average of more than two hundred sixty thousand dollars the men can get up to eighteen thousand dollars for winning a friendly game the women can't earn anywhere near that if they win a game their latest numbers are higher but they are certainly nowhere near the men still so what is the usa soccer federation have to say about these claims not only the money part but the charter plane part and especially be astroturf astroturf part which what is the reasoning behind that i i can't imagine well the artificial turf i think is actually be most indefensible thing in the whole lawsuit because there's no actual reason to put the women on artificial will circle the minora natural grass sometimes the men and women played at the same venues in the same year to year span and the federation would actually pay to put temporary grass for the men where's the women and get that but since this lawsuit has been filed your soccer has been scheduling all the women's games on natural grass the federation also says that the women are being flown on charter flights now so they have gone ahead and addressed those issues because like i said the compensation piece is much more complicated it's not a simple facts is not the federation just changes something like they do at the flights in the plane surfaces and it's suddenly taking care of what you a soccer is arguing is is two things one is they're arguing that the men bring in more revenue and therefore they should be entitled to compensation another piece of i think u s are sponsor at least in the response official response to lawsuit they're saying that the men and women seems are separate entities which is frankly a little surprising because you want soccer has the sort of tagline called one nation one team and yet in their lawsuit they're arguing one nation to teams a men's team in a women's team in i don't know how well that's gonna hold up as legal argument because these are two teams that you play for the same federation for the same boss end their staff that works with the federation that you know works for both teams do we know the biggest streams of revenue are for the women's u s soccer team enter those dreams the same as the men is it ticket sales at tv revenue who is it merchandise yet tv contracts are huge but they're not broken out separately third bundled together so we can assume in a lot of people have chosen to assume that the men are driving the value in those tv deals deals but the head of fox sports in an interview recently you know is asked about that and he said it's hard to argue that the women's national team is not the bigger team right now in this country it's the same sponsorships those are not broken out separately their bundled together in those are the biggest revenue streams the other one is ticket sales in the women have been bringing in more money from ticket sales for the last three years part of that is they play more games than the men's national team be average attendance of a women's national team game is not as large as a men's national team game but the women are playing more games they're doing more promotion more media how does it feel to be going back now back to defend their title a what we tried to retrace all the stats and good luck come get the good juju from you of course so i think it's actually interesting that there is this idea of equal pay for equal work when actually the women you could argue are doing more work in that could be interesting precedent because there is actually a lawsuit 'em in nineteen ninety four in california that serves as precedent where there was a women's basketball coach who sued because she wasn't being paid as much as the men's basketball coach in what was ruled in the case was that the male coach had to do more work he was doing more promotion he had higher expectations more pressure and i think if you look at that precedent that applies the us women's national team i mean we went into this world cup and everyone was talking about the winning again teams don't just win back to back world cups all the time it's actually actually incredibly rare thing to do it's happened once on the women's side it's happened twice on the men's side ever so i think you know it's interesting to talk about equal pay for equal work when the women have been doing so much more work for the past few years bring it back in this lawsuit that's ongoing right now if and when it's resolved might that results in equal pay per view what sounds like unequal work i actually don't think that equal pay as we know it is possible because the women have negotiated a certain collective bargaining agreement the men have negotiated a different collective bargaining agreement they have different structures the matter paid purely through bonuses the women are paid salaries in bonuses and the women have not indicated that they want a different compensation structure they just want more compensation so the overall pie that is available to them is large as the men's team so i think probably the biggest impact that this lawsuit will have other than you know potentially settlement that's worth a lot of money i think it's going to force you a soccer to maybe reevaluate the way they've been doing things over the years end kind of looking at the treatment of the two teams and questioning why why are we doing things the way that were doing them should we reconsider how were treating the two teams is there any reason for some of these differences we have between the two teams i think that will actually be the bigger bigger impact of this lawsuit not so much this idea of equal pay meanwhile we're reconsidering how things are done is anyone proposing that they just pay the men was instead of paying the women more it's not like they're winning or anything right i'm sure that argument is out there i don't think the women are asking for that i don't think you us soccer is considering that 'em yeah i think that in the past 'em when women have asked for equal pay that's something that people say over just gonna pay among less 'em i think what you know title nine when that we've passed that's the law that 'em insure that women would be giving athletic scholarships at the men were a lot of people thought that title nine which is gonna mean that men's sports in colleges got less funding unless scholarships and that of course didn't happen at all all that happened was there were more scholarships were women in more resources for women's sports in colleges so you know i'm sure there's some people who we'll talk about that being a possibility but i just don't think that's how these things tend to go you know we've talked about equal pay on the show before and a surprising thing we learned was that like yes equal pay is an issue in the united states but it's you know dramatically worse in other countries even surprisingly countries where you hear about you know really comprehensive and sort of woke social programs like denmark sweden or switzerland i wonder how much better or worse is it outside the united states demand do well for instance norway has equal pay between their two teams 'em you know hager bird is arguably the best female soccer player in the world she's not playing in this women's world cup because she's argued that the federation doesn't treat the women's team while enough cnn it's not about money either a sub i should have respect for for the sports a women being being treated equally as well i'm countries the women seem are treated terribly we specially see you know in south america a lot of these countries have such rich footballing cultures in when they have players who are really good but they're just treated terribly you know in toxic half are region you see jamaica having to do a fundraiser in florida to make money for their world cup debut 'cause federation just doesn't support thumb one thing we have seen is that you us women's national team is the number one ranked team in the world they are the reigning champions and for them to be so public about out fighting for equal pay and better treatment i think that has served as inspiration to a lot of teams around the world we sort of seen a wave of women's national team standing up to her federation boycotting doing certain things to get attention and sort of raise these issues more publicly one for so long they were maybe a little more clients and they were told you know you should just be happy to be on a national team i think we've seen a lot more women's teams being willing to sort of push back against her federation nation after the break the crazy boom and bust history of u s one in southern last week i spoke to a young man named desmond about about his love of tv show desmond admitted that he also like lego but he liked kiwi co because you got to learn about stuff as he built stuff and he also allude to the fact that he keeps his kiwi co projects wants to dump them 'cause he loves them so much the projects are designed despite creativity tinkering and learning in kids of all ages all the projects and inspiration they do and activities are created by a team of product designers in house in mountain view california and get this their rigorously tested like kids kimiko send you crates beach craig includes all the supplies needed that month projects detailed easy to follow instructions and an educational magazine the learn even more about that creates team so boot go all right now is offering listeners the chance to try the metro free to redeem your offer and learn more about their projects kids of all ages kiwi co dot com slash explained k i w i c o dot com slash explained i mean it's pretty obvious the women's soccer has always been as popular as it is right now when exactly did it become such a big thing in united states i would say the first time it became really popular was in nineteen ninety nine that of course is when you as one of the world's top and the rose bowl in california has come under pressure unless they get brandy chastain ripped off her shirt she's on the cover of sports illustrated honors sports bra in america just sort of fell in love with the team and they became celebrities mia hamm was a genuine star are two olympic gold medal line fifa women's soccer women's world cup playing time usa soccer player they all time leading score international soccer male or female attorney think what else i am one zero bake sales what happens next first you us women's soccer there was a group of people and investors who decided to start the first women's league in the united states and they were hoping that they could capitalize on the momentum that they saw at the nineteen ninety nine women's world cup in that league was called the w usa you have that that wanna play in this league because they know how good it's gonna be really will be the world's best professionally and this is like a like and ellie galaxy new york red bulls kind of league like a a major league women's soccer situation in united states yeah i mean it was be women's equivalent to the analysts major league soccer of course in nineteen ninety nine they actually thought with emma lost a lot because mls at the time which hemorrhaging money and they were afraid that they were gonna fold in the women had all this momentum an excitement excitement around them so mls actually at least you know the people involved in the w usa the way they tell it is analysts did everything they could to try to kill this women's league because they were scared that the women's league was actually gonna take away all their audience and their sponsors and their market share while yes the answer to your question is that yes it was the women's counterpart to analyze how how does it go not great i think that there was is an expectation that these people who tune in to world cops were going to be the people who are gonna tune in to watch local teams every week in unfortunately that just didn't happen they just pulled the plug after three seasons in the league folded in people were not really caring about the team that much anymore until twenty a lot of it has been a huge wholehearted harvard effort brothers abby mumbai scored be latest goal in world cup history in just sort of insane game so here's the final against brazil he's hurt a it wasn't incredibly dramatic match and that sort of one over americans who really paying that much attention to the women's world cup in ever since twenty eleven i think it's women soccer's been relatively popular and then after the team won the world cup and twenty seventeen in canada it just exploded with their similar sort of surge of investment after that so in twenty fifteen there were already a league that started called the n w sl that league actually still exist it's the longest running women's soccer league in the united states it's in its seventh season right now you did see more investment more sponsors i think it was less than some people might have hoped and i think again after this world cup in twenty nineteen again there's gonna be more injuries there's gonna be more sponsors i think the team is more popular now than they've ever been before in were seen in this world cup i was actually shocked that fox tv ratings drew the world cup so far with higher than it was four years ago in twenty fifteen and that's surprises me because canada is in the same time zone of course usa where's in france back in the u s these games are airing you know early the morning early afternoon and yet the ratings have been higher the team is just more popular people more excited about this team 'em then maybe ever except for maybe nineteen ninety nine i think the n w sl needs to sort of figure out is front office operations in needs to be in a position to capture be inevitable interest that is going to come after this women's world cup in francis over what a more successful women's soccer league in the united states make this equal pay situation for the national teams sort of like a nonstarter i mean the reason the men can get bonuses and not salaries is because they make a ton of money plane further clubs they actually don't even need to make any money from the national team before being honest you know these are players that make very good salaries whether they're playing in mls us or any of you know the tons of men's league that exist around the world those opportunities are available the women that is why they need dui soccer federation pay the salaries so that should be the goal i think everyone would love to see women's soccer getting a place where there are viable leagues and clubs where they can pay salaries for the players but that's still a long ways away i mean women's soccer was band in brazil until nineteen seventy nine which is not that long ago so of course that infrastructure doesn't exist there in england women's soccer his band until the nineteen seventies is well but like it was banned around the world so it's not surprising that the infrastructure in women's soccer has lagged behind men's soccer women legally could not play soccer for a really long time why does women's soccer band i think it was considered inappropriate proprio for women to play soccer but i think we could just sort of summing up by saying they were sexist sales over time people are saying wire manzo so threatened by women who kickball a new kind of i don't know that it's about caitlin murray is the author of the national team be inside inside story of the women who changed soccer i'm sean rama's sperm this is today explained the show's executive producers irene noguchi brigitte mccarthy dominance of saudi helene my shot and you know i'm hassenfeld produce shapiro's engineer and are summer interns are alex pay me i will repeat jared paul pitched in yesterday and the mysterious brake master cylinder is minding the net explained is produced in association with stitcher and we are part of the vox media podcast network of food and medicine and food is in the
Amazon's Ring cameras are building out surveillance for police (The 3:59, Ep. 566)
"The. Welcome to three fifty nine. I'm Joanie Saltzman, Alford. Ing, Amazon's ring smart home doorbells are helping police departments build surveillance networks, right from your neighbors front doors police departments across the country and major cities like Houston down to smaller towns with fewer than thirty thousand people have offered free or discounted ring doorbells to citizens. Sometimes using taxpayer funds to pay for the products. Ring owners are supposed to have the choice of providing police footage. But in some cases, the giveaways come with the stipulation that you have to turn over footage to police requested Alfred talks about what's going on here. Yeah. So a lot of people by rings very popular. They think that will help them. Stop package thieves or find somebody suspicious in your neighborhood and you think, oh, well, if it's just facing up, my doorstep, it's not really anything affecting me or my neighbors, until you realize that your neighbor across the street, also has this ring, and it's facing your house, and it can. Get footage of you and just build that out to your entire neighborhood because that's what it is for a lot of for a lot of police departments. Now they've been seeing that residents have ring so they call up Amazon, and they partner with them in this program called neighbors, which is less social media app available. It's kind of like next door where, you know it's just among your neighbors, and you post footage up. They're like, hey, look look at this person stealing packages watch out for him now when police partner with Amazon, they're allowed to request for footage directly from people so they can kinda put a GIO fence around, like a block, or something like that say, hey, we've been looking for this guy. We believe he's around here, can you send us kind of footage? That's supposed to be optional. But the problem is in some giveaways. The requirements are there are strings attached. Hey, like when we asked for footage, you're giving this to us, that's because we gave you this camera for free, and essentially, that's kind of setting up like a an open surveillance network for a lot of police officers who were never able to get cameras in these places. You know, when you get a security camera, that's usually for like a city or a big area not, you know on your block, and now they have it in, you know, these residential areas that they never really had surveillance footage of before. Well is the shock as reporting, this was shocking thing I think that's the MO the biggest thing that stuck out to me was just how much money Amazon is making off of this. So when you have a ring camera, you don't have to plan for it, but it's basically you don't you can't store any footage. Otherwise, you can just see, like alive, you, but you can save that video. So it's kinda useless unless you get subscription. The cheapest one starts at three dollars a month. And so, in some cases, Amazon will give these cameras away for free or heavily subsidize it. Because it's kind of this model of, like we're going to sell the the blade not the razors. The. I don't know. So in one case where they donated about, like eighteen thousand dollars to one town in subsidies. It turns out that, you know, they gave out six hundred cameras in that town. They can make all that money back in less than ten months, and then just continue to see their profits rise from that. So, you know, it's police like Amazon is asking police and do you wanna partner with us? And then police then go to residents. Do you wanna buy this, Amazon product, right? It's weird. Yeah. And all the money just goes back to him as on. Right. We also have an interview with Sony's, PlayStation CEO are e insure interviewed the CEO, and found out that game console maker is vowing to release have shared saved games backwards. Compatibility and more on its upcoming console often referred to as the PS five unofficially. Yes. So I mean, just trajectory wise, you know, it's probably going to be the PS five, they haven't said anything about that, but yeah, the CEO Jim Ryan this first interview since he started. In April, and he talked about how, you know, cloud gaming is gonna be the big thing Google with their stadia pitch is kind of moving toward that, too. They you might be able to play more games with your friends on XBox. And we might be able to play more games with just people on your old consulate. You might not even have to get the new PS five to play with your friends on that consulate Suming. That's its name a grant feature. We don't have all to play the council. Also on our own Ben FOX Reuben has a story. Also about Amazon unveiling the latest class of Alexa, prize competitors, who will be setting out to make the conversational Botts more real for these other stories, checkouts dot com. I'm Joanie salsa. Elfferding. Thanks for listening.
E434 Finance Week Day 6 | Track Money, Stack Money
"This is fifteen minutes of freedom. I'm your host elite life, optimization. Coach Ryan idell and today is day number six down the road of finance across the four quadrants of life, being fitness, faith family, and then finance. This whole month has been dedicated to being a look back for potential clients for you to get a better understanding, right? If you just went episode by facade over the past, what would be about twenty eight days? You a good foundational. Look. At just base level operating systems minimum standards for how I feel you and I should live life. I say this right now. Right now because I know as I progress forward, my views are going to change what I believe, to be possible is going to expand. I will consistently audit. And reevaluate, my non-negotiables, but these things that I'm sharing. I don't miss. I don't turn away from them. I've done them for two plus years now can't ever magin stop him because there are things that make me better. There are things that I have seen make every client I've ever worked with better. They're able to get more done in less time with less stress stronger motion processing. And turned into heightened versions of themselves. And isn't that what we all want isn't that what you want? To be the best version of yourself. To step up and grow to truly optimize the human experience that you are having right now. This is this is financed based, but I must share it because it's on my heart. I truly believe that we are spiritual beings, having a human experience, not a human having a spiritual experience. I believe that our beliefs. And what we have created here is passed down generation Lee to either keep a stock or helpless expand, and I believe that as we begin to expand we begin to ascend, and as we ascend, we are able to do more achieve more help more. And fear more whole at a souls level. Mets with these twenty plus days have been about twenty eight days. And on the sixth day of finance. I don't know that I have a Pearl of wisdom, that's going to impact you in some massive of passively like last five days. But what I do know as have something that if you apply. It incrementally things will change. Small things. And so much of that to me is now tracking. I wanna track discretionary spending. I want to know where the dolls dollars and cents go of my life, and I want to know, right all the different variables on how I can. Increase the efficiency of my daily life. Right. So there's a software platform called mint am I n t. Digital tight your Bank account, you tie to your credit cards and it begins to track your spending habits. Now, I know most credit cards at the end of the year will give a look back or most debit cards, but I need real time data to make real time decisions. I can't wait. Twelve calendar months to decide if I'm spending proportionately too much money on food and entertainment. I need to know that right now. I need to be able to look at a snapshot and see like man by vehicle expenses. Just too high mine, churches too much gas was too much my payments too much. This is out of whack. I gotta make a change. And even outside of that. Download meant you plug in all your stuff. You start tracking monitoring. You see get alert all the time like this much spent here this much spent there, you can set predetermined spending limits. You can really do some crazy things with mint. But there's also a series of apps that allow you to round up. Daily transactions. Right. I'm a I'm a debit card guy myself. So go to the gas station to go. Actually holding up a little satchel of hydrogen water. And to be in four dollars and twelve cents. I'm making that number. I have no idea much it costs. Let's make it more reasonable. Let's say three dollars and twelve cents. There's an app after bend down, pick up my phone to look at it, but there's an app that automatically rounds up the eight cents into an investment strategy. Right. So I'm doing normal transaction. It's rounding up to the nearest whole dollar, and it's using that to invest. So not even really noticing think of all the different ways you spent money today or yesterday or last week, the three trips the grocery store, the two tanks, gas the random odds, and ends. There's ten times throughout the week, you spend money. Let's say each one of those, you round up fifty cents right? It's not a lot in its totality. A whopping five dollars. But it's a five dollars. You don't really think about right? It's kinda slides under the radar. It's there, but it's not over the course of a year again. Not a tremendous amount of money. But now the two hundred fifty three hundred bucks. Then these things are to matter as you progress. Progressive your life because it's not new habits new beliefs. And those habits and beliefs have actual value. I mean, imagine what would happen in your life right now. If I said to you how much did you spend last month on going out to eat going out to movies, and buy stuff you didn't really need? And you could insolent look at your phone. And you can pull a number or long new platform on your computer and pull the number or you were so diligent with you had committed to memory. What would that mean for you? How different could that be? It's, it's incredible. Right. It it's, it's something that would alter the path not only you. But everybody else. I like Robin Hood is the app that I use. You can use anything you want. That's for that rounding up to invest. CBS stings. I don't believe either everybody thinks about I don't believe you might even know about them. And if we just had more knowledge and more acceptance that we don't know, everything, and we're more generally curious about what could be. I believe we would all get ahead. This is gonna be a super quick episode of that. Don't have something gloriously impactful on the fact of tracking and monitoring your spending habits. We set the budget on day, one and the budget is great. Let's break. It down more grain early. Let's know exactly exactly what you spend on gas. Was it just gas? Or did you buy some stuff inside the gas station itself? How often you going to pull a how much you spend poli what else could you buy at the grocery store for that money that would fuel your body in a greater capacity than the burrito? And I'm not saying anything wrong with the breed. I don't believe depriving yourself in order to go forward unless you absolutely have to. But I believe in being intelligent being data driven. No more guessing. Because if you begin to stop guessing you're looking at facts you're looking data, you make educated decisions that can pivot real time. When you have to guess luck. We're out of luck. You're out of chance outta chances. You end up where I ended up five years ago, spend more money than you make in getting yourself in a whole mess of trouble. So between Robin Hood and meant those two platforms. Right. One track. You're spending one to round up to the nearest dollar to invest in different funds. See very quickly. Just what's possible. Mine. We can also I guess, on this episode of make sense to pivot into. Right, all the different ways to acquire new wealth. To make money. Now I am not an expert trainer in any capacity. I played around with this, some off and on my life. I believe. A way that you can make money consistently. Is doing something called four X trading foreign exchange, currency trading, and I don't care if that's in the crypto currency world or that's an actual currency world. What it ends up being is you trade the difference in currency. Right. The US dollars trading for a dollar twenty two in Great Britain. And then all of a sudden, spikes up to a dollar thirty one you can sell your dollar, right? You can make the difference. And then you can buy back when it's lower in you, you, you keep playing back and forth and it's not as easy as it sounds. Right. This isn't something you just. Sit there and you can knock out in. Thirty seconds a day. But something that you're listening to the show, you probably have a cellphone. And you begin do the research and you probably have to buy some software, eventually. Can find someone potential dementia you that person's not me? And it might not be a bunch right? What, what would your life be like, if made an extra fifty bucks a day, just fifty dollars a day? Fifteen hundred bucks a month. Next eighteen thousand dollars a year. We think about that beyond with yourself. What changes in your life? If you had an extra eighteen thousand dollars this year. Maybe it's nothing major. Maybe it's like just just enough that you don't have to keep worrying about where the next full tank of gas is coming from. And when you want to go out to eat on a Friday night with your boyfriend or girlfriend. Your husband, your wife, your kids, you can decide to not go to Friday's and go to the nice steak house once a month. Maybe that's the only reason you do it. But that such an. Simple way not easy. Simple way to generate additional income. I can't imagine why you wouldn't begin to learn trading. You don't have to be licensed to do it. You're just taking your money and buying different currencies at different times in song them off at different times. In a way that makes you cash and the same thing, it'd be done with crypto currency. You know, the whole buy low sell high really, in my opinion all the stuff comes down to have an eliminate the thought of greed. Pre-set trading parameters, and you realize you're never gonna go outside of those. And more than likely the biggest when you're gonna get the one that you can capture today. You're not gonna remember I could've made extra forty five cents if you held onto longer, but you will remember that you try to hold onto longer and you lost four bucks. That's just how it works. So tracking and monitoring a little bit of an investing. Ryan the last thing I can touch base on how to get rid of how to potentially bring in some additional income in your household, walk around your house. When you get home tonight. Take on inventory. Right. I'm in my office right now, I'm looking around and there is so much stuff that I don't need in this room that I could sell on Craigslist or Facebook marketplace. It's almost a pollen. Right. I have a wooden box in the corner, that has no real capacity purpose. I've plastic container. That doesn't really need anything into it. I the TV against the wall. But Lord knows. I don't really need to hang up, and I've got an extra chair. Find needed to maybe the TV's one hundred fifty bucks bargain-basement, maybe the plastic bins. Or another fifty between the two of them. The chair seventy five bucks. But then if you want room by room and just cleaned. Just got rid of the stuff that wasn't a necessity. Now, say you kept some of the frilly items say kept some of the additional things, but you got rid of all the stuff that you just never use your house would look cleaner. You'd have less stuff to clean up after and you'd probably have a couple of extra thousand bucks in your pocket. We hold onto things we hoard things like it's a Lassen wherever gonna have the same relationship, you have with money that we establish yesterday is probably same relationship you have with things. And it's my belief if we hold on things we're constrictive in our money and contractive in our minds at, in constrictive with Zambians than we can never have more. They don't come as easily. We don't grow and expand and prosper, the way that we're actually meant to because we're putting out of the world lack not abundance. And so between tracking monitoring your spending habits rounding up to the next dollar learning a little bit about foreign exchange, currency trading four x maybe little bit about crypto, right? Just just day trading back and forth. Just a little bit. If you do those things, and then you clean house, and you get rid of all the stuff you don't need and you sell it. You'll have more money. You'll be in a better position. You'll have a new skill set and all those things together, what they will do for you isn't sure you that everyday going forward, you'll be able to get shit done.
833: Utility on Investment by Tynan of Tynan.com on Alternative Investing & Improving Life
"This is optimal. Finance daily episode. Eight thirty three utility on investment by Tynan of Tainan dot com. And I am, Dan. I'm your host here on the show where I read to you from some of the best personal finance blogs on the planet. And if you have any topic requests for us, or maybe an author that you like cool you'd like us to reach out to and see if we can get their content. Come share, those ideas with us at old podcast dot com. That's oh, L D podcast dot com. And before we get to today's post. Thank you to fundraise for their support fundraise enables you to instantly access high quality, high potential private market real estate projects from high rises in DC to multifamily apartments in LA and each real estate project is carefully vetted and actively managed by fund rises team of real estate pros fundraise is the future of real estate investing. So visit fund rise dot com slash oh FD. That's F U N D R. I S E dot com slash. FD to have your first three months of fees waived for now, let's get right to our post as we start. Optimizing your life. Utility on investment by Tynan of Tainan dot com. The thing about investing money is that it's pretty hard for an individual to do much better than five to fifteen percent per year consistently depending on your risk tolerance and connections. My best investments have been putting money to work with friends businesses. Five to fifteen percent is pretty good. But it's inside the box thinking to stop there. What else can we do with our money as a disclaimer I have a good portion of my money in investments that make a return like that. It's good to grow your cash, and I'm not saying you shouldn't. But what if you diversify your portfolio beyond earning, a financial return after all the point of money is utility? So why aren't we thinking one step further and thinking about how we can earn the most utility on money. I love to find situations where my capital is preserved grows a little or is consumed very slowly. But which yields me a lot of utility as a result. For example. I bought my RV for eighteen thousand dollars, plus probably fifteen thousand over its life and repairs and maybe another six thousand improvements I saw. Sold it last week for thirty thousand. So I lost nine thousand over the years. I owned it. That's not a great investment, especially when you can't the parking fees. I paid for four or five years until you think about the utility for that small loss. I had a worry free place to live in San Francisco. I bought myself the ability to have fixed living costs indefinitely the freedom from having a landlord and a really cool experience. There are all sorts of professionals who are competing for every last dollar of return on investment. I probably couldn't buy and sell vehicles and expect to make a huge profit because there are plenty of other people doing the same thing, and they're better at it than I am. But no one is competing on the Tilleke side. So my returns can be much higher. If you estimate I saved fifteen hundred dollars a month in rent, which is probably conservative. I saved one hundred and forty four thousand in rent over eight years that means my net profit was around eleven k per year. That's almost thirty percent. Non compounding return consistently over eight years. The are. Viso really obvious example because it saved me actual money. Art is a more abstract example. I love buying art. I don't have a ton of it. But every piece I have is something that I would go out of my way to see in art museums. I buy my art, very, slowly and carefully and would estimate that if I liquidated my small collection patiently, I could probably get twice what I spent it's hard to put a numeric value on having a little art collection. But to me, it's well worth it. Even if I can never sell it at a profit. I love seeing great art throughout my day. And I like being able to share the stories behind different pieces with my guests when I first moved to Vegas. I bought a nineteen ninety five Mercedes C class for twenty five hundred dollars. It idols a little bit rough the hood has a small wrinkle in it from where it must have been in some Fender bender and the driver's side door doesn't lock automatically with the rest of the doors, but it gets thirty five miles a gallon as a nice wood and leather interior, and is one of the most reliable Mercedes built the utility. I get out of that car is far greater than I could get in pure returns on twenty. Five hundred dollars plus sold half of it to my friend, which have the my cost, but maybe only decreased utility by ten to twenty percent. I think most people would have bought financed or leased a car that cost ten to twenty thousand dollars. Same utility much higher price because all I ever think about at least for big purchases is utility on investment. My life is full of these sorts of things the condo in Vegas. The island the place in Budapest watches home improvement projects, clothing, etc. The end result of all of this is that a large portion of my discretionary spending goes to things that will both make my life cheaper. And better in the future. I'll never have to pay rent or mortgage, again, if I don't want to nor would I have to pay for an Airbnb or hotel if I just go to the island and Budapest I'll never have to buy a watch. Again, I get mental stimulation everyday from looking at my art. I have my own little tea room in my place in Vegas. So that I can host people for free in the same way that debt compounds to make life miserable. Investing in utility. Compounds in the other direction every year, I have fewer and fewer mandatory expenses. So I can use more of my money to invest further in utility, and or to invest for a return which can perpetually fund my extremely low living costs I have a lifestyle that is really exciting and satisfying to me, and it cost me under a thousand dollars per month. A large portion of which is my private chef aka Chipotle, whenever you're about to spend a lot of money on something really dig deep and ask yourself what sort of utility? You're getting from it. What's the real utility on? That least BMW is there a smaller amount of money. You could spend to get the same or similar utility is the utility. You're gaining actually useful to you. Remember that if you save money in one area, you can deploy it somewhere else to get more. Utility don't allow yourself to spend large amounts of money on something that isn't going to bring you a lot of utility. And when you're thinking about investing money think beyond pure financial returns. How could you invest money that would lower your cost of living for years to come? How could you? Send it to permanently make your life better. What resource could you buy that would create experiences for you, and your friends this is one of those concepts that just seems so obvious to me? And yet, I see very few people doing it most people's expenses increase all the time as if it some law of nature that this is how life has to be but with good capital allocation, you can continually increase your quality of life and lower your costs. That's how you buy freedom in a way. You just listened to the post titled utility on investment by Tynan of Tainan dot com. And thank you again to fund rise for their support. Come by fund rise dot com slash f to have your first three months free. It's a tool mentioned across many of the blogs that I narrated here. And for good reason private market relisted has historically provided. Excellent ongoing cash flow, even as it supports long-term growth private market assets. Like these or a strategy for diversifying beyond public market investments, and even other kinds of real estate like publicly traded reits and fundraise is the future of real estate investing the platforms innovations power and investor I model by eliminating the bloated costs and middlemen that have traditionally weighed down real estate investing, which saves investors time and money, unparalleled transparency and real time reporting. Let you see how the development of specific properties impact your overall portfolio. So check it out. Visit fundraise dot com slash oh FD. That's F U N D R. I S E dot com slash FT dab, your first three months of fees waived, and that's it for today. Thank you so much for listening have a great rest of your day. And I'm going to see you back here. Tomorrow for the Thursday show where your optimal life awaits.
"Coming up at the top of the hour, right about four minutes after it's my strawberry letter for today, the subject her parents don't think I'm good enough. We'll get into that later. But right now the nephew is here with today's prank phone, call what you got for Neff. Divorce papers. Divorce hay-poro really. Better man. Feel. The. Tax Man. Steve before I, played his, do you know divorce papers when you touch them? I'm just curious if you hotdog. Place. Can Handle. Apartment. I'm head of handed timid magic show out in. Bait in Vegas Yeah. I Got Vegas I didn't know that. I've been everything. I dipped. Sing a happy birthday. Happy. Happy. Fifty gives you divorce papers at be happy best. Restaurants Song. Go divorce papers. Let's go cat duck. Hello. Yeah. I am trying to reach say Jones. Please my name is attorney Gigiri from the. Law Firm she available. To see how you doing man. I'm actually trying to get some business rectified dealing with your divorce that took place I guess over the last seven years my correct. All right got some foul up with your paperwork here. Now, you guys had some property that you own together I believe in Avondale my correct. I'm looking at your paperwork here, Miss. Talent. Okay Now, we're getting into the property and that seems to be where the problem lies in Avondale. You guys had some property and you sold it as you both went and split your ways right looking at the paperwork that I have here. It seems like it was filled out incorrectly. Seven years as passed for this to come back in and fall on my desk to be to get rectified. But whatever the dividends were that you guys took and and and shared that you're now looking as if you're owning Mr Jones and additional eighteen thousand dollars. Back. Ma'am I don't know I hate to be the bear bad news but I wanted to bring this information to you and see how we can get it rectified. I'm not looking for you to have that much money available at the today but I do know as a as an attorney forms. Jones, I must say that we're trying to get it taken care of as soon as possible oh wait a minute. Later that this up. How do I owe him eighteen thousand Raising well, the paperwork here Ma'am seems to be. Away say it wasn't supposed to be fifty percent fifty percent between you you all. It should have been seventy, five, twenty five and he being seventy, five percent of the Property Oh him and twenty, five percent. I don't know how what? Louisiana's a community practice at how could he get seventy five percents I get twenty five. From understanding that, he paid most of the bills when you guys were living together and I have anything to do with no, he's in pay most of the Bill I work and contribute to right and I understand that I understand from what I have you on the paperwork and and I understand that you've had some contribution to it but it just seems like you did not contribute as much as he did and. I never heard. Like this. Do Apologize Man. But what I do need you to do is definitely not use that type of language while I'm on the phone. Okay. Well, I don't really have to talk to you because I'm no, I don't know I don't own. Jails no eighteen thousand dollars and he didn't overpay me because it was commuted pocket. I had two children for him. I left with none yet. and. There's no way I'm going to pay him eighteen thousand dollars. To get a little abrupt which you but you are going to pay this eighteen thousand dollars. Now, that's going to happen. Now, if I, if I have to Garnish your check and it, and that's the way I will have to be done but the money will becoming too Mr Kirk Jones in some of eighteen thousand. Call Becca. Don't you hang up on me again now, if I had to put a lien on your property or put a lien on your, which one do you want? Me Last saw I talked to you. About because what the code that all that was over with. You'RE GONNA pay eighteen thousand dollars. That's what you're. GonNa do. Not, want to have to come to your house, Ma'am to pick up this money but I will not working I. WanNa, Know How do I have to pay him eighteen thousand? You're not working. That's problem from the start. That's why wasn't fifty fifty that's what was seventy, five, twenty, five because you're not holding your bad. I work all the State may twenty six years and I worked. We'll. What is your doing now? Nothing? Seems to be the root about problem. Isn't it? No really no. Palm because I WANNA know how Or get a eighteen percent and we that is A. Property, he had his lawyer and I had my life he agreed and that was dead. So I don't know how only eighteen thousand man that's the way the problem was evidently, you didn't read the paperwork that you signed when you and Kurt separated seven years ago. Now, if you didn't read your paperwork correctly, this is why it comes back to bite you in your own. It's not because I had a lawyer and he had his lawyer we agree with that was back in. And we agree with everything he signed up and that was the. Have a lawyer that was worth a damn who did read the bottom of the paperwork Kim sales and I had a thought I had a good lawyer. And I understand it man when that happens a lot of a lot of time I came to the and I had to turn a struggle with him and we got what we got both of us work and this he got come back and and oh no. I'm GONNA fight this week. Can we expect a payment starting to work on eighteen thousand I? Don't know well I mean I'm GonNa have to get a date or something where I can start getting five hundred dollars for new per month or something like that. Five hundred I haven't worked. I was working up when you want to sit I I don't think I should have to tell tell you all this because I need to get talk to me a lawyer because I'm not a grant anything because I don't think that. No, it's not fair. I tell you give me the night because I'm GonNa have to get a lawyer. Trying to keep my composure as an attorney, ma'am, how do you have the right in that I? Don't have no say. So over this. Are. You have you remarried. You realize if I don't get the money is on that, I don't get paid right listen I'm going to be down in your area probably on Wednesday the you think you and I can get together and probably talk about this I want to help you as much as I can. because. I don't think it's fair to me when rat I'm not I could be there. You can get together maybe work something out. Yeah. I. Think I know I'm not I mean I cannot afford to pick John's no eighteen hundred you took the house on the nothing and I tell you what I tell you what I'll do this I won't I won't tell Mr, Jones anything but only on one condition that's me you've been able to work this thing out behind closed doors what you mean work it out, work it out but do you mean what do you think on my i? Don't know tell me We'll maybe. Some relations or something I mean, why would you want a relationship with me? I even know me that relationship you know maybe can kick. Take care of your way. I'm dumb, I. Don't know I don't know nothing about life. About But. Why is you asked me I just WanNa see waking maybe get together. I'll throw out his paperwork out and they'll lake. No, it's not possible. You made me Wednesday, I'll make this thing. Go Away. I tell you what else you ain't gonNA. Believe. This is nephew Tommy from Steve Harvey Morning Show you just got pranked by your sister Janice. You know good. Then on the phone I got. A grandbaby on the phone. You just go. The whole family. I'm kickin. Or more? Sharp left. Turn. To see a come. What do you mean? Under. King Pranks King Frank Eight two months. Coming up next. My strawberry letter for today the subject her parents don't think I'm good enough. We'll get into it right after this you're listening to. Morning Show.
1031: Black Belt Habits
"This episode being brought to you by homeys over at Modesto. This is one of my favorite new companies that I recently rolled out in all of my dental practices. They have a really cool feature called voicemail drops. That's an ingenious and fully automated way to stay connected with your patients to welcome new patients to the practice. Reach out about unscheduled treatment reactivate hygiene patients were send out and day. Post up calls I use this on a daily basis and it's been a huge value add to my group. The Madden. Toe Team also spends a lot of time making ultra efficient, user-friendly, and totally customizable paper was forms. Patients can receive these forms via text or email or they can update their forms right inside the mobile APP. So your team isn't spending their valuable time with scanning or data entry. And if that wasn't enough, but then toe has several great tools to help offices. With case acceptance we all know that delivering treatment plans in a way that makes sense to the patient greatly increases case acceptance. That's why Modesto has redesigned. Their tree plans to be fully customizable so that providers and treatment coordinators can present treatment in a language that is less like a foreign language. So if you'd like to schedule a free demo, just go to info. Dot Modesto. Dot Iso Ford Slash Costas more time that's. Dot Memento Dot I iso four slash Kostas you'll be glad you did. The dental procure podcast. Okay. Doctor it's time to put down that hand piece. You're listening to the show dedicated to helping dentists get their lives back. It's time to decrease your stress, increase your profitability and regain your passion now introducing your host Dr Mark. Costas. Hello everyone. Welcome to another episode of the dental podcast. I'm your host duct mark hostile be doing create outta there today. Sorry for the Weird Acoustics I am in my gym in a little bouncy in here, but I just wanted to introduce this cool new video. This is about black belt habits and it was taken from an excerpt from the audio of our most recent mastermind meeting just last weekend. So this is hot off the presses and we talk about. some of the things that I've noticed that some of our highest performing black belt level dental practice owners do. Their mindset, some of their habits and some of the things that they consistently. Do to perform at a really high level and a big part of that is surrounding themselves with other smart people. which is what I think is one of the biggest hacks of some of the most successful people in the world and that surrounding themselves with a higher level of individual that pushes them to the next level and allows them to see what is possible for their career for their life. personal development, wise personal income, wise etc.. This episode is being brought to you by the Dental Success Network Donald Success Network dot com slash free forty five get you forty five days free to the most. Positive and educational network in all of dentistry plus we have one of the largest buying groups in all of dentistry, which in of itself is worth the membership price. In an incredible continuing education library. So We'd love to see over there in the network we'll talk to you soon enjoy this episode about Black Belt Habits. So what I've found about the black belts is that they are implementers, right these are the people that take the information and actually take action and a lot of times it's in perfect action. but it's action nonetheless because if you don't do anything and you analyze analyze you build no momentum if you get. So fired up after a mastermind meeting and you start marching in a slightly wrong direction and you have to correct course, it's much easier to do than starting from a dead stop because you have momentum. So you guys are going to have the opportunity in a lot of momentum when you leave here to do something very, very positive and make some very very tangible movements in your practice and your life and your relationships. It's up to you though to implement and take imperfect action. Another thing. I've noticed about the the the black belts is this one nugget rule and I've always lived by this one nugget rule right? You get to a point where these guys have heard me say this should all you guys the People Eddie you've heard me say the same stuff over and over again for the last seven years right I mean there's only a certain amount of information that you can dish out about a pl and an operations manual and leadership. It's the same stuff over and over again. But my guess is that every time. You come to a meeting. You pick up at least one nugget that you can take back and you can implement into your practices and I don't know why the black belts are here for some seven some eight years. Now it's because they have the opportunity to listen to what I say and they are a different person than they were the last time that I was here and that the last time the the group was together and they might have heard it before but they are a different person than they were last time and now it resonates. You pick up one nugget and it's worth sixteen hours of sitting in a room. But then there's other people that say you know you know that was a nice lecture. But I don't agree with. Payroll being thirty percent of the White Belt I. Think it should be twenty five percent, and as soon as they hear something that they disagree with they dismissed everything else that you set. Right. So they're looking at what the world is providing them through a lens of what is wrong. If there's anything wrong or anything that they disagree with then they dismiss the whole lot of it and they're missing a lot in life when you look at life through that lets. The black belts don't see things that way I tell the story a lot that I was following this guy that for years he was kind of a hero of mine who is a a world famous marketer Years and years ago I had the opportunity i. a friend of a friend introduced him to me. We emailed a couple times and I asked him if I could take him out to lunch if we could do lunch just a sixty minute lunch. If he'd be open to doing that. Thank you. Thanks Buddy and and he said Yeah Yeah come on out to Baltimore. I lived in. Phoenix at the time has come to Baltimore and we can have lunch it'll be eighteen thousand dollars. So I flew to Baltimore I met with an for eighteen. For, for ninety minutes, he bought me, we went to a deli. He bought me a a Bagel Sandwich and we sat down for ninety minutes and I picked his brain. and. It it was eighteen thousand dollars and I got back on the plane flew home. And Was it earth shattering a few things. There's a nugget or two that I picked up. Would I do it again? One hundred percent of the time I would do it again it wasn't about the money was about the one or two nuggets that I picked up from him that I was able to implement, and then it was a lifetime of me seeing the world in a different way. So people that kind of. People that are. Executing at this level and perform at this level. Have they just have a different way of? Looking at the world. Okay. So let's talk about more about black belt characteristics they have the the ability and will to solve bigger problems. I'm GonNa, talk about this concept of a success tax here in a second but the the. The whole concept here is that as you progress as you have a bigger organization as you get more sophisticated as you grow, you're going to experience bigger challenges. Think about how nervous used to get when you had an afternoon patient dental school and it was a deal. Right, I was like Oh. Shit. Am I going to be able to get this done in three hours like I have to get my like anaesthetic check and then my Prep Jack And then I have to get like the carries indicator out to make sure and then if there's carries and I'm going to have to use rounder. And then I'm going to have to put the band on. And I've never used before I'm going to have to use a wedge and then what if they're bleeding? And like you are up the whole night before anticipating all of these issues that could potentially happen right? That was like. It was Syria, shit for. Onto number nineteen when we're in dental school. If you think back to what used to make you nervous back then and a single canal, your first single Canal Rubio. Right some of you guys aren't doing single canal root canals now but or some of you planetologist the I like the first implant you sunk tooth number nineteen when the bone was this wide and you had nineteen millimeters before the IRA nerve and you're like. God. What if this person has pair SESIA? Think about what used to make you nervous what used to keep you up at night and how you are able to overcome that right. Just think if you were like you know I can't do this. I can't handle the stress of doing this deal. I'm not GONNA do anymore. It's I'm going to do everything in dentistry except for a deal on nineteen. Right what if what if every single time you know your child fell down? When you're trying to teach them how to ride a bike and they fell down five times. And you just said, you know what? Riding a bike just isn't for you honey. We're just GONNA put this aside and It's okay. You can have a very happy life and not ever learn how to ride a bike because it's just not worth it's not worth the sacrifice in the skin, knees. To get over this. Hump. Right so what I'm trying to say is that like Soul. There's so many lessons in that like you get to your second practice or when you get to your six offertory or when you get to your, I associate doctor or when you get your first lawsuit or board complaint or failed, implant We. Go through this transformation process and you either embrace that and say this is the success tax. This is what I have to do in order to progress in the world. It doesn't feel good. It's awful. But the reason that you guys are part of the top three percent of the population if you have your doctorate. You're part of the top three percent of educated people in the world. Part of the reason that you. Are Part of that population is because you understand that you have to go through some shit in order to get to where you want to go. It's just another level. And the problems are going to get bigger. I talked with summer about this a couple of years ago I think and and she was saying God these. There's just so much. There's so many issues. I said, that's the success tax you want bigger problems. When you have a problem that leaves you scratching your head and so worried. How am I going to get through this? What? Am I going to have to deploy. In order to get through this, I just got a notice that I'm getting audited for two thousand eighteen from the IRS. Well, we'll see taken care of it. I have enough money in the bank accounts Radicek if they if they're going to charge me a bunch of money. It is what it is. You're going to have bigger problems the more successful that you get. The Grit and perseverance to power through multiple challenges, disappointments and setbacks. They have a clear vision. They have a compelling why the the ability to delayed gratification in the ability to endure endure discomfort and pain. So if you guys have noticed a lot of these are. Have a lot in common with. The with my personal ethos. But I want you guys to to recognize that I look at the successful people that surround me and I take us from that. I look at summer and Addison Jason, Ori- and to hair and Chris, and I'm like, what are they doing? That's making them so successful. I never stopped being a perpetual learners. Never and I think one of the biggest greatest things about my life and the reason why I get up at four thirty every morning is because I can't wait to get up and do it again because I get to be surrounded by people like this and they teach me things that I can't wait to implement. So. If you can. If you can embrace that mindset, there's nothing that's going to be able to stop you. And going back to the whole thing about not having like a definitive purpose and a big aim that we're shooting for, and the reason why people are so interested in escapism and and. Are Lazy. And they procrastinate is because they don't have something that's that's lighting their fire. They don't have something that they're passionate about they don't have like a primary eight. And if you can get that primary aim. And I'm GonNa talk about an exercise here in a little bit about how to cultivate that primary name. You're going to be on to something. Okay. So we talked about the success tax we want bigger problems. If your problems are small, you're not playing a big enough gain. If you're not stressed about something every single day if you don't have conflict almost every single day. If you don't have. A discussion that gives you butterflies. In your tummy almost every single day then you're not paying big enough game as far as I'm concerned. This episode is being brought to you by the fine folks over at medics dental it the most sophisticated and successful all business owners prefer to learn from the mistakes of those who have come before them rather than making costly mistakes themselves don't make the mistake that so many others make short cutting or trusting your practice to an unproven the company that doesn't have the experience or skill set to serve as a strategic partner for your practice and team. Medics dental it is offering a free it analysis and fifteen percent off of your first year partnership with them to the listeners of the dental podcast just go to medics. An E. D. I X. dental dot com slash podcast. That's medics dental dot com forward slash podcast or just mentioned the word podcast when speaking with them. That's medics and D. I x.. Dental. Dot Com. Slash podcast. And wraps it up for another episode of the Dental podcast look forward to reconnecting on the next episode. Thank you so much for joining us today on the dental podcast check out true dental success dot com for full recaps of every show, a schedule of our live events, free video tutorials and a whole host of practice building resources.
Should You Wait to Buy, Sell or Refinance Your Home
"Hi everybody. This is Rhonda Cobb the money coach and welcome to the show. This is GonNa be a great show and I think that we're going to end up giving you some very good advice that you can use right away and don't forget our new website is live. It's RC money coach Dot Com, and of course, we have the new company page on both Baynes Book Ending Din you'll want to look us up and follow us we'd love to have followers and we loved listeners your them. Thank you so much. Now in the last few shows, of course, we've talked about crazy two, thousand and twenty, and we've also operated huge discount on the brand new ten day best start money management program. That discount is going to end soon. So if you did not order your program and get started name, you need to get that done and if you did start, let me know how you're doing how it's going. meany male, catch me up. Tell me what you liked. Tell me what you would rather see. Improve you know feedback. Okay. So now in this next month, we're doing this series. We started a couple of weeks of this is the third one. For people who are interested in moving forward in their financial growth people who went to sidestep the prevailing negatively. And take purposeful. Towards financial future that is better organize for success. and. If you've been watching the interest rates lately or you're actively shopping for a new home, you know that the market is still moving in a lot of places. And you know the interest rates for home mortgages remain low. Of course, they remain low. So, if you're fully prepared. To jump in with both feet and you feel confident that are crazy. Two, thousand twenty won't upset your plans you can decide if you want to move forward. However. It's not quite so good if you're unprepared and the least little bit of unprepared is going to put a snake in your works. Here's what I mean. What happens if you visit your best mortgage broker? And then you discover that your credit score using the new formula is too low. Or you find out. Guidelines changed. And you now need a higher scored that he needed before. And you need more savings than you needed before. that. Hello. I'm here to help you get more prepared. Indeed. That's one of the things that I do really well. So. Let's start at the very beginning there being prepared. Remember the show. Oh Gosh it was ages ago. I'm preparing to buy a house. Well, you can still download. The guidebook powerful secrets at simplify buying a house. On the newly designed. It's free. It's still timely. It's still helpful and did I mention it's free, free, free, free and pre. An inside that guidebook, there's also link for a free one day one strategy session. So. If you are looking to get fully prepared. This is the place to go. Now. What if your realtor a mortgage broker or a homeowner's insurance agent? I need you to either go online. And sign up the booklet and grab the booklet. Or send me an email. Nat because you don't know the Zeke grits I'm sure you already know the secrets that simple by buying a house if you're emerged broker realtor homeowners insurance agent. Who are as regularly I if not more so than me in what it takes to buy a House But this booklet is. Lous for your clients. And you can give it to them as a free gift it's copyrighted, but you can print it out and give it to them. Staple your card to it it's a lovely Freebie is already finished. Why not? and. Then when they need a little credit score booster, their budget needs fixtures it. So they need just some sort of help they'll have somebody to turn to, but it's a great. Feel free. Print it out put it on nice paper staple your card to it and give it to your clients. It will help those that are committed to improving their circumstance quickly, and when they're done improving their circumstance, they get returned directly to you. That's my commitment. Now for everybody listening. Let's review buying selling and refinancing. See me. The first thing you need to do is protect your income stream. Yes during the entire process us, you not want to have any interruptions in your cash flow that would stop the process. BOOP dead. Aches right. You also want to protect your income by being properly insured with the number one most important insurance and P that is not life insurance. If you miss that show commie email me download the free booklet somehow send me a smoke signal get in touch and let me know and we'll talk to you about what that most important insurance is. The next piece that's really important is cash management. It's not only how much you make. It's what you do with it when you bring it home. Cash, management protects your entire life. If you manage your income. Badly, you'll not be as successful as you are if you manage your income well. Cash management is the commitment to be informed be money smart and be coached whether you sign up for the done you program the done with you program or the do it yourself program. The important thing is you have this handled. It's difficult to be a homeowner if you're not set with good habits Oh. Yeah. You can buy the house but continuing to maintain successful homeownership is more than just buying the house. The next thing you want to get under control is your time management. You cannot recover lost time or unity. Make a daily schedule list. The most important things you will do that day and do the most important things burst. All the rest of the stopped it needs done that day you can took that in and around the most important things. But do not do junk activities. Before your priority activities. It will be very difficult to complete the tests of saving for searching for. And owning a home if you're not managing your time. Now part of homeownership is also. A LONG-TERM SAVINGS program. You. Need to have a long-term savings, a capitalisation program and Attacks Management Plan. We did a show awhile back on the long-term wealth building benefits of homeownership. Everybody tells the benefits of homeownership. But if you don't have long-term savings in tax advantaged vehicle. long-term savings in a regular savings and you need to capitalize on a retirement planning strategy. A NEF cannot be said about this, and the other thing that you really need to have control is your tax responsibilities. Letting the tax man go. Go by and he did is the same thing as financial. It's just shooting yourself in the foot financially. So get a grip on an. Paid for home. And a good retirement savings plan is key to longevity. Imagine heading into retirement with the House you own and a mistake. I've watched retired people for many years now. Those that are having their best lives. All did the exact same things. They manage their money. Carefully, they have a trusted adviser and they own a house bullying completely paid for. And those that are not having the time of their lives they didn't tavern advisor. They rented or they still have a mortgage and they didn't follow a plane any know what they're not burying as well. So, which one do you want to be? In retirement. Next when it comes to homeownership decisions at this time, you need to be very careful shopping, burnt loans, lung terms and interest rates. A good credit score will serve you well in allowing you to qualify for the best interest rates and using an independent mortgage broker can be beneficial at this point. So, you went to get used them because they're knowledgeable and they're helpful. You're accustomed to me offering you assistance and solutions. Today's no different. I've been helping people just like you find solutions to their money issues both business and personal since two, thousand and six. I help you solve your money problems and take you from timid to owner and broke to set. Now let's look at this pressing question a refinancing. Let's say you own your home and you have one hundred thousand dollar balance on your current mortgage. Let's say your current interest rate is four and a half and you've got the teen years left on that loan. Okay. So that puts your payment at about seven, sixty five or principal and interest, and I'm not factoring in Taksin insurance because that is a very big variable based on where you live I'm only talking principal and interest. Now with a good credit score, you can get that same hundred thousand dollar mortgage in today's market for somewhere around two and a half percent. And fifteen years now that payment again, only principal and interest is about sixty seven. So that's one hundred dollars a month savings. Well. Is that word that? Okay got the teen years two hundred dollars a month. That's eighteen thousand dollars over fifteen years. You tell me is that worth it? Of course, there's GonNa be some upfront expenses, but you'd still enjoy his savings over the life of the loan of about thirteen thousand dollars in my book. That's worth it. Now, why wouldn't you want to do that? Here are four reasons why you should not do that. One, you plan to move within two to five years total waste of your money stick with what you've got. To. Did teen. Years from now will take you pass your seventy fifth birthday. You need to rethink that go per ten year loan or figure out how to pay what you've got off really fast. Three. You're in Iraqi relationship and thank you may be moving on. You might not want to get a brand new loan in that situation. And for you're currently unemployed or you think you may be soon that's GonNa be a really big problem. Now. You have questions about the veracity of refinancing right now. Let me know send me an email. And your credit score obviously needs to be in the good and above range. If it's not call me immediately for assistance or role in the ten day, best start money management program so that you can get a jump start on your financial future. Next when you go to refinance, you definitely need to be able to show the you ever steady income stream you're going to need that. Don't even think about going without it. You're going to need a couple months of bank statements your homeowner's insurance policy. All right. All those things you need to do, and my final tip are two tips are. Make sure you tidy up the outside of the House for the appraiser in the inspector because of it looks like a junk color, it's going to praise like junk. and. The last one is make sure your property taxes are current. Love they're not going to refinance appeared behind on your taxes. When that's all done, you're ready to make an appointment with the mortgage broker of your choice. Now in order to move from broke to set or tenant owner, you need to master a new habit and a good money attitude and that's where you're good. Mentor coach comes along. You know you might just maybe no one of those, right? So when you saved at one hundred dollars a month, what are you going to do with it? Well, now is a really good time to be up your savings. But it in your savings account for emergencies savings, put it in your retirement savings account or by that number one insurance that will protect your income. This is not the time to spend more money. This is the time to put yourself on the pathway to a good financial future. So if you make the decision to buy celery finance right now do it smartly. Do it wisely and do it carefully. I'm always here to help you make the most of the money your mink. And there's the link to the ten day best money to manning. Easy Burmese they write the ten day s start money management program. It's right there on the website where you click to listen to the show, it's also on the RC eight coach website. So increase your money management skills, it reduces your stress and help to get that. You will enjoy what do you do with your extra money Before we go. Don't forget beat grateful and you will attract good things.
Shelby GT500 + Corvette C8
"You do miracles exist have you seen West Virginia in the fall colors you're listening to castrol car cast on podcast one let's get started allowance so you get more power and you get more off it's pretty simple hurry to your local dodge dealer today and take advantage of dodge power dollars a right hey an internet contest so keep Your Eyes Peeled Ladies and gentlemen if you want to be the new owner of the most powerful dot com and of course our friends at Dodge visit your local dodge dealer for performance technology and great deals never has been a better time than right now dodgers Tom you know the expression you won't believe Your Eyes Trust me you won't West Virginia is the third most forested state in the US so plan the Dodge Demon Hell just chew on that one for a while and they're making five of them and they're giving them away through the milk now you can add save hundreds of dollars on car insurance and you don't have to drop off or pick up anything just go to GEICO DOT COM and in fifteen minutes you could be saving eighteen percent or more on car insurance so if you want some extra money in your pocket this is the most rewarding to do you can do today be sure to check out diet to gyco Foale getaway now at WBZ tourism dot com hey guys before we get started I'm going to tell you a little bit about our friends at Geiko we've got a big show today Alastair Weavers in the studio offering power dollars with power dollars you get ten dollars off for each horse power of your new car that's every twenty nineteen dodge charger every twenty nineteen go every twenty nine thousand nine challenger You could buy Twenty Nineteen Dodge Start Hell cat red eye and receive an almost eight thousand dollars cash and we're gonNA talk about Shelby Gd five hundred corvettes and a lot more but first everybody's got a to do list maybe you're dropping off your dry cleaning pick ups we're doing a little commercial at the Goldberg Arise you know usually it's traveling halfway across the country and the onset go elsewhere it's busy busy or film commercial at your place you'd better hurry up because that houses on the market now thank God really cool deal hey guys welcome to car cast math the motivator Deandra we've got Bill Goldberg on the phone an in studio once again are your friend Alastair Weaver how are you I'm thank you how your mom how good so we've got a short amount of time with bill today because he's busy tells what's going on buddy else but I've got the the the the caveat and the UH I don't know I don't know what I got lucky they're all here palming today enjoy the commercial that you're making we can't wait to see it next week for sure let's catch up on the Wisconsin trip and and have didn't have a roll cage didn't have belts tall I could pull out was ten flat so you know I'd say fairly respectable and for the first time these five hell cat red we'll have more horsepower carbon-fiber thirteen hundred horsepower twin turbo hell cat Y. Charger is no we'll draw cheating and twin turbo eight six one hundred fifty one thousand yeah and fortunately I didn't kill myself and my car instead of pushing and terrifying sure I'm sure it is all right buddy will enjoy Dr chargers and when they set it up for drag racing they run at fifty fifty ratio front rear yeah it's not like eighty percent and the rear just like you know it's a little different than like Gtri it's pretty cool man it's it's it's a cool deal obviously you know what I did last weekend up and up in Milwaukee when Liam break in that world record it's sad it was it was fun I think that cars got a lot more in it and next episode and I'll have to download about the all wheel drive out a minute ago and I'm actually trying to steal all okay greedy just take two I want you know what's cool too is being stuff we were talking on the phone last night and I was telling you that my next trip is this coming weekend and I'm heading out to vegas now it's a different allergy wants to know more wheel drive is cheating cheating cheating I don't know Hazard Santa So sweaty right why is he so Jewish he's is doing is working hard territory which is pretty much Normal for the police cars now yeah and he said the you're going against no actually we talked to the guys we talked to the head fabric fabric guys and they said that the two will drive cars are when they get them dialed in working hard you think he's GonNa Wrestling Bill Yeah I tell you what my twitter is full of pain I looked at one the other day and I thought this must be kind of a red uh here's the cool deal it's it's a web contest give away from Dodge and they're giving away five Hell Cat red is oh I assume it's going to be one hundred ninety five degrees outside and I've been invited to the event to drive the new four shelby gt five hundred on a track out there a which I'm very excited about I think it's a cool car it looks they brought the slaves to the house Goldberg clause has to slaves at his house one out of a red eye so drag strip in the tax prep faster how does that would boorda novelty that they use the face all wheel drive looking forward to seeing all the old toys please do my friend please you guys have a great show we'll talk to you soon thanks okay bye great power seems great and it might just be big and ridiculous who knows but but it's just everything that we enjoy over here on on for those types of cars all right that's good he's excited during a it's one hundred degrees outside during a Christmas commercial yeah that makes sense I think he's GonNa Wrestler that and I think he'll be back in the ring I don't WanNa give anything away because I can't say for sure but I'm pretty sure I'm going to say for sure so you have some a more sima man we got lots of stuff going on out there there's appearances or shows there's live car cash shows there's stuff with hot wheels and Canaan air filters and Dodge Challenger ever built forget about the demon this has got fifteen more horsepower than the Emmett even chip in it so I just found that driving how that literally now just texted me from the car so they're on their way to vegas to to drive through making a film about it which will be out shortly so thing but just how the white isn't it yes but yeah I don't know I think I think at some point down the strip it starts pulling a little bit instead of and then your car truck or both be out there in the magma flow booth out front the Magnifico semi truck area so come on pretty honest about everything but you guys do that I know you do that but also you buy cars for Edmonds Yeah I mean Amy's realize there's like a month ago so ridiculous shape this is early fifties of the guy he definitely keeps himself in great shape putting production in December our guys early on the list is it's going to be yeah we we've actually been a little bit but I think we're pretty early I mean we're just we're buying it three hundred calls a year through the office so literally I'm privileged position isn't really literally every night pretty much I have a different car and that's the kind of meat and just speaking it out and looking at which one so you guys like us over here we we are often given press cars to drive and evaluate and we you know we almost guys have a great day I appreciate it well I'm looking forward to coming to seamer she's seeing these cars and if a real bill so I should be there on the Tuesday so I'll likes we are at Edmonds Rachi buying I'm so super excited go to build eight probably around December fairly guaranteed yet so quite early in the yeah we're going big on it it's a car that everybody enjoys is appropriate America and you know I kind of with my accent I cannot do it doesn't it I can tell you now you can talk about other things other than horsepower outcome out of the way but again so rocking you might win one of those read is that bills then you'd be fully your Americanized at that point youtube comments if I did the genie actually I assess I'm actually GonNa go to Detroit this is a this is a big reveal big exclusive we're going to go out and get up to Detroit not cheap made down the production line and be like engine and everything else so I'm super excited about that how how are they just hundreds and stuff but yeah also wanted to have some some fern and to generate some noise in a in a literal sense if you get something like a t t five hundred in the fleet ear nose twenty you're basically trying to simulate two two and a half years of ownership in twelve months exactly and of course also what we have is a wide does is that car always taken or do most people kinda sign up for like a raft for because they're they want something a little more convenient give what we do but on top of that we run along tested problems with two weeks we get loads of different people through thirty five people in the team also drive the car let's people offering a an opinion we do take it and and that's a real mixture you we got a hundred or CRV which I think what else they ram fifteen hundred miles due jam onto a car and so you're not going to this event you have to you have to have to come here and talk to you people she call us Lago some video t- Rachi Astro and there's a real process but on top of that we like to ruin calls and what we call long-term fleet which is all about living with them and I think that's really important because that's what real people do not tend to show Friday of people so different heights different sizes nothing else so you but bowl safety with lots of experience a different cause and you know I always think this is slightly different about our industry he's much interest in dot com yeah so okay I I think you picked two cars that first of all this makes good sense let's just say what it is from an editorial standpoint I don't know how many people are buying an R. S. five but that's a car that brings people into a brand I look at traffic to the site and traffic to our social the divider counters or like a list you sign up it's Yeah Google sheet but I'm saying I google sheet yeah website different things and it's a little bit of reliability in the but also you know we have a Chevy Bolton sees a terrible things you gotta give it a month Sigli it's a bit of a it's a bit of a makes ten how how it works is you know we get calls on a two weekly basis which we call a short term loan so whenever a new model comes out we have about but it is difficult I spent last week in and out of different explorers and miss the fight the Audi rs five explores the call I should be driving the irs five gallon. I won't on vacation for a long weekend because there's no trunk space aside from Nabi only carry anything and you not fitting in the car it's fantastic it sounds it sounds great and it sounds tale on Tuesday and I'll be doing his six paces often through the gopher so you guys rock car cast bigger out right like the truth in that definitely and if you look at us Iraqi just relaunching at the moment all our long-term test pages but they're all about what it's like to live with it's interesting I don't know how many they're going to sell but there's always the halo cars and you know those things like you were saying like the the the Audi the RS five it's a it's a it's a customer car so it's not there's nothing tricky about it so but we we just asked them to go and go and film it and we work and we fold on that and we've got a lot of fun you look at tripadvisor you believe that the person reviewing the hotel is probably stating thirty hotels of that type would cause these different because it's all about access and all the to judge an accord you've got I think I think it always be taking that's going to have seventy thousand miles on it in a year every time somebody goes on vacation or something top at night and and and cruise around you know grab some dinner or something up towards Malibu take that that's a nice little drive you don't need to bring back L. mustangs in the five hundred is and you know what part of my my job edmonds is to help get the brown out there get people understanding what we're doing what we what we'll try and do is well what I I don't know what it is like I'm not really maybe like a cloudy day or something you know we don't get many of those here but creations in people's windows and then realize it's ninety eight degrees like the math doesn't work on that but yeah I kind of like you know like a drop that defy the one that actually works as a as a road car let's talk about this about a hundred and twenty degrees in studio but yeah it's super hot in here by the way I'm not sure what's going on maybe a Christie pick to American Halo cars and that's always a traffic driver for us for shows like yours for for sites like yours people wanna see that stuff maybe seventy three hundred seventy thousand three hundred dollars seventy thousand three hundred seventy three hundred seventy seventy three hundred live call I just you're out here now you're you maybe get up in the morning and go for you know walk the kids or dogs or whatever you gotTa do in the morning and you've started see Halloween wchs now for that you don't need a bring besides let's face it you're not going all weekend trip you've got a brand new baby at home so you're not going on a weekend trip anywhere pocket which gives you the the big GD four wing and the carbon wheels where does it start what's the base price seventy three hundred but that seems really love seventy three thousand why so the big thing if you look at the I'm sure we all love to play with configurations and all sorts of things yeah and you can pretty much drive to one hundred thousand dollars if you add the the carbon driven a camera and et Cetera et Cetera. So that's that's kind of where we're coming from most of league as you know the big sellers Ram fifteen I read a bunch of reports and you get so much now on youtube and everything else and I was like problems with that car on the trunk is basically non-existent if you buy and keep going talk traffic to an in a video and you know it's a car that that I mean a lot of people will buy the cool fat but it's actually a little people also buy actually we can just buy those you can buy and actually the carbon wheels you can probably add later down the arguably that might make a difference on mass and all the rest of it into if you're over six foot you basically can't drive I mean I'm never had a problem that's why we are different but nobody talks nobody actually calls us out so from WHO's to say what we're trying to do of course whatever as actually talk about how does this call work for you you know we all love McGee's and see because okay but if you can't take but we cannot those later anyway so we went for standard car twister orange which is five bucks yeah technol- that color at bear handling package which gives you the that gives you the suspension and not get Watchi- that gives you the good flop suspension it gives you the Gurney flop and the I just didn't happen to be around but yeah gt five hundred super excited about I can talk you through the speculation also put her name down for government engine corvette because we just know that it's amazing and it's fast and it's an eye catcher and I did feel self conscious yeah did you is your heads above the windshield how these days I I get a bit self conscious and kill the rooftop and stuff maybe I only put the roof down at night I don't like the days tumors Sean I don't like cancer trying to do what we will do is actually approach it from an edmonds perspective I'll give you an example I drive a Lamborghini the the the the hurricane puffer Monte yeah I like that one so is the carbon package also what they were calling a track package sort of sort of a combination of the two it is kind of but he's lovely car but I read a bunch of reviews guy the white convertible yeah they don't have they don't have forty of those that are Presley here by the way they won the we the little split awakes now the standard configuration whether it has the handling patronized comes with a with a magnet ride l. somewhere else wings litter highest split up but so we what we wanted to and was an also that promise then you lose the receipt so it becomes less usable so she case but I don't believe so I believe it's just just buying the carbon so handling package we've got what else painted black roof and that's kind of I never we don't do that okay okay seventy thousand three hundred seventy base price and you can go up to a hundred thousand if you stop putting the track pack a Lotta call seven hundred sixty president told my head and then you could add eighteen thousand dollars of carbon staff is there anything else you think that bribe it's inexpensive five hundred bucks hundred bucks and I don't know if you get vinyl or paint or if it's just paid but it's really expensive I know we looked Har but like it was it was probably difficult to drive around a little bit I think it's great but on the four Oh five is there painted the stripes I'd have to look that up I can't remember I know thing like I think the GT three fifty or the yeah the GT three fifty has a vinyl Karachi going back to eighteen five hundred one of the things that we launched the carbon pack and everything else but actually the one that we've gone for we tried to do is is here Anna Z are one with all the crazy wing package on and you couldn't you couldn't open the trunk you can you can like I get it it's not why you you buy that speed obviously with with with with the gearbox that he does have but it's at a no part of my appeal for me of mustangs always fantastic biannual gt three with the with the carbon popcorn we'll put them head to head and we'll actually show what difference like eighteen thousand dollars with a carbon fiber rushing means the ties will make a difference be 'cause he's goes superstars fifty still has which is interesting because they've done some updates to the car like oh we revise this suspension and we do a little bit of this and a little bit of that but they didn't they didn't upgrade any yeah so you got the magnet royd maybe it's tuned differently if you order with the carbon fiber wheels I don't think so we're we're GONNA you're gonNA find out the big kind of the problem is the carbon pack then you get this big gt four style shell on top of the top the ray which just looks at me Tamai is accepted after Malki was again flop looks really kind of nicely integrated and looks right now what's your prediction on visibility because I remember a while back you rolled up walk dash gauges and the new mustangs and the the bullet and the five hundred has the big digital cash it's all configured rable and stuff so the GT dashed off. I'm I'm not sure why probably just a cost thing is maybe a cost thing but you use in my previous life I showed a documentary on the development of the folks they then go gas guzzler taxes and stuff so that brings it all in seventy nine six eight five sason eighty thousand Belikov so for eighty grand it sounds like you're getting a lot of car though you everything else you you the carbon pucks are you quickly get to one hundred to be honest the carbon he's one of the things that eighteen thousand dollars or something what is it carbon fibre we in Scottsdale last year yeah it's Nice it's bright technology package which is just sensible stuff like and things that makes it easier to some of the safety stuff the plane crimes you guys by Gt three fifty no we haven't we haven't bought one of those but but we will you have insight into the longevity of that engine this is for I spent three years before the development team and this before joined Edmunds and alongside developing the irs we came over to the US to to shoot the Duck Cowan and they had a GT three fifty does nail it as far as the sound and stuff like that they've made a couple revisions but what they didn't do they didn't step up to like the new dash and stuff it still has like the two two missing from there's nothing there's nothing really missing so all you always like a stripe or striped elite kid or can have stripes if you'll miss purely aesthetic steph yet you can have strikes now aren't the stripes expensive fifty in development then so I got to see them going through with the troubles with that engine everything else and I think that's probably part of the reason why the GT three fifty doesn't use that engine live within the thing is how fast now this is the problem when she gets seven hundred plus whole spot you calm managing a stick shift without becomes extremely difficult do you think Ford anticipate nine eleven move and they go oh we're going to do a GT five hundred touring car in offer with manual and and less wing you know something like that does that make sense Naci was just purely on a steady grounds we strive enough so we just kept it pretty simple but Gurney flap looks really cool we actually the rear wing with the Gurney flap as you gotta come in gives him mouth is you gotta come in kind of blown us how did you SPEC out the GT five hundred I have the box and a doesn't eight probably doesn't doesn't make sense in the same way that additional versions the focus rs there was some talk of doing kind of like nutty some of the race cars don't use I don't know yeah not not hearing a lot about it but not like the focus rs heads that had a little bit and they need the performance numbers right because they need to brag about the car and the DC tease the way to brag about the car but do they do sort of a Dt the transmission there I think Diane I mean I love Steak Shifts Day in day out I think he'll be a nice thing it hasn't got of course is the is the stick shift the GT three fifty does have and it has the flat plane crank wishes ut five hundred doesn't have so you gaining horsepower you gaining mm sixty holes policy putting a lot more stress on yeah now youth do you think you're going to be disappointed or you think you're going to be satisfied with the seven speed swap in a sequential transmission for every you know soclean chiller DC tea or something somebody else swap and Emmanuel it'd be like I just like the manual and I probably other it's very likely won't include a Complex D. C. T. Yep right so they're probably going to be some sort of six speed or seven speed manual probably some elbow we're working on the the box for it and then we're working on the transmission for it because the stand alone computers that they sell for their create engines for for Ford does I think night and thanks for the for the numbers that they do an porsches and different price bracket with things like gt three touring 's and one of four to nouncement is GD five hundred crate engine interesting yeah and then and then eventually they're going to say hey we're going to do it it will be it's a lot of power look there's a there's a health engines thousand horsepower crate engine which they can't make enough they just they announced one hundred of them they sold if you purchase supplies for business you know that it's nearly impossible to find everything you need in one place that's why there's Zoro dot com where the number one goal is in a day or something like that you know all of a sudden everyone needs a thousand horsepower crate engine for what I have no idea all right so when are you going to get Ainley Cobb Nice that we're actually what we're GONNA do is we're not going to buy that one and I'll explain why am but then we're going to at some point in the future we'll borrow one has to take out all the other junk abs and all the other tie ins for the full car so you can do it in a hot environment but it makes you know version of that so I I would imagine him and it wouldn't surprise me if at Sima this year unlike the tuning and stuff probably swapping in a you know a traffic into a GD five hundred is easy we know it fits it'd be is tools and equipment safety and office supplies cleaning supplies and more Zoro has tons of stuff for industries like electrical plumbing contracting manufacturing and more you'll see relations without that be of above and beyond the Pechanga these guys go to build a business case he doesn't really work so well that's what we have the aftermarket for for every manual car that they're going to limit it or they won't sell enough to justify the D. C. T. and an optional manual I guess it's it'll come pick one cost make your life easier it's Zoro Z. O. R. O. Dot Com it's where you'll find everything you need for any business almost any industry Zoro dot com has brands that you know and trust like Stanley three Emma Walkie Schneider and rubbermaid just to name a few over there Zoro dot com offers amazing customer service for you know big iconic American brands you know Ford Sports car if you will chevy sports car front Lashkar cast that Zoro dot com slash car cast sign up for the newsletter get fifty percent off your first order all right corvette exploding everywhere you look driving a country road I can afforest seeing the small towns I mean how is this possible completely different animal but also like everyone's going to test those two together because they're all and it's simpler money of great item said Zoro Dot Com right now if you sign up for there's email newsletter you'll get fifteen percent office is what you do you go to Zoro dot com careening I want to get your thoughts on this to a little bit of a little bit of hiccup over at Reggie 'em with engine versus rear engine rear mid front mid versus where your mid I don't know how they just like of course we're we're all oh you're going to go in December that we're looking like December for that and then we will follow up with the Corvette Corvette let's get into that I I'm GonNa Tell You Guys About Zorro with labor unions and some delays on getting the seats built and I know there was the I think they were trying to ship cars by the end of the year doesn't look like it's going to happen enroll friends at Tessler of you know fast discovering they said you know a lot of you know we sold in the last couple of weeks with dyson the electric in the tastic building vacuum cleaners real people based in the US you'll also enjoy fast free shipping on orders of fifty bucks or more even if you don't have a business to shop for you can still find lots open yeah it's been a bit of a tough time and they may well be I think we're having a modest delays a month or so ebbed just to see how that plays out I mean it's inevitably few if you if you stop production because you know that custom built it's it's fairly straightforward but it's not as well one of the things that we're going to try and share with G. Five hundred buil film is you know this is a you know the money and the complexity and everything else building cars invert planned up for the sevens over ca there's got to end C. seven completely you got to ramp up for eight it's a big I mean people in the rest of just how complex see where the market goes without I mean we know the dodgers everything else have got a huge aftermarket what people start to do with Gte five and if gt five hundred becomes available as a crate engine to here on the freeway here it's like maybe not the ideal car I don you'll find out this weekend but Gd five hundred we find means basically a Mustang the one thing shoe problem solved now or something but it's not a lot I mean I guess there's not a huge out there and it'd be used and stuff but now it's just a little so you know the five hundred go spent I got knows how much tens if not hundreds of millions of dollars on on electric-car program we stay now cotton because they don't see a business case so you know this is expensive set tough it's a tough job business this and you know Chevy and Ford of being out this a long time and you know they it's it's tough for them to the call was the hot so many problems actually now because partly because Tesla does over the air updates in and they do that you know for the past six months touch word it's been it's been great so that is a case in point I tested before we take you to an extreme using customers as early adopters as a test drive signed starting from scratch and completely new everything it's a big investment for them what's your I am again Ford explorer new four explorers and example we can get into in a minute shelby gt five hundred potentially is new enough could have some based on and maybe the D. C. T. hasn't been figured out yet unless it's used from different cars you know so it's not completely new and people think that they shouldn't buy like the first generation of a car because it needs to work out it's bugs and we do see time the honest testing and of course the long-term when you guys do the long term stuff is something like a C- A or they're converting plant over and of having a little Italian version of what the Germans have been doing and it just seemed kind of play with some flaws and Tim driveability issues and and and hero I completely get that all the teething troubles with every new car yeah I mean Ram had a bunch of problems we know with the with the fifteen hundred when he was new you know you need breaking hot little four or five hundred something five hundred five horse power turbo you know it's like everything about it I love I love the before you get into the get into the car six months enough time for a main factor to get feedback and make changes because I think Alpha male Julia a car that I was such a fan folks but on a platform that can kind of been around a little bit yeah most refined a lot of their magnetic ride magnified and and you know the engine that is i what's your thoughts on should people what are one because they love it and they wanna have it or should they wait a year or two and some bugs worked out you know what it's it's a bit let you in in your business is to get them new and to give us the you know the the no hype version of of you know on your iphone or your android they they send software update yeah and like the Super Geeks Guetta in Beta form and then it comes out real and I'll give it six months let them and then and we have reservations or an APP figuring things like also pilot yeah we've had some opinions about but if you get into like the that's just part of the process now like it's not that big of a deal you take it in you get it fixed I think it's a big a deal is it's it's a hassle factor I mean obviously it depends what it is right windier tear corvette build the I was at the launch they said it starts under sixty thousand was fifty nine thousand whatever fifty nine nine ninety five it always bits and pieces and one hundred is good now the fifteen hundred seems to be a lot of the problem solve as a bunch of recalls on on ours so give it kind of on paper I don't think ridiculous bullets fix anything entire entire life cycle of right Oh you mean sorry the vet there's always the trade off because people won the FA I understand the feeling that you want to be the first person in mid engine covert you wanna drive around L. A. or Boston or wherever you are you and I both have classic causing you accepts it and things about that but with a modern car you don't think of a modern car is unreliable yeah so if anything that takes you away from it you know we saw it recently apple did an upgrade within three or four days I desperately ironing out the bugs you're right these things are so complex that typically you'd WanNa way to get six months particularly in the in the US tickling California everybody commutes all the time you know he call becomes staple of your life and if it if it breaks down his big drama yeah all right let's get give it depends on you know some of these things can be every -tations and some of these can be can be a major problem is he takes effect off the road so you know you're always going to be trading mccaw airbag like a fuel pump issue and there's fire involved right now but generally it's it's more of a hassle you know these days we I mean the desire to be with you know the kind of rational if you're being completely killed halted about it I would say give it at least six months before you jump in should people be afraid of recalls working into the shop to have something fixed recalled is going to be is going to be a hassle and when we look at how he will use editors what people are looking for reliability so important people 'cause really absorb I'm thinking I'm thinking the Kurt courage I going back in time for twelve years ago auto show I love this idea getting nonsense to get you know for the headline this is what we we've come up with what we believe is the ideal SPEC for a mid engined corvette at the moment so and then they immediately said by the way next year it's going to be under sixty thousand is going to be like sixty one thousand and change so or sixty two thousand only the first year is under sixty and then it's GonNa be pop I dunno it's GonNa make much of a difference anybody if you're buying that car who cares so you're starting at about sixty thousand what do you buy so this is always the the question isn't it because every car has a starting price and very few cars of any description ever sold at the starting price a normally that's just a bit of aww with two lt which gives you which is sixty seven to nine five that gives you the sort of basic technology kit and everything else that you'd want you then add five hundred you know it's been a few years now and I don't know that those bugs have been worked out it's the truth because if you look at the our experience it was re really guilty of this was almost three we wad wheels and paint we also paid so funny those are options five hundred dollars for for paint then you want the very early Tesla model three yeah we all too and for the first few months it was it was a long term tests reports it's you know we got a lot of Arbel so five grand for the seven grand for for the for the tune basically right what was the track pack or handling Ah cut you kind of need that won't thousand eight hundred ninety five magnetic ride control performance traction management again you might say well that's super I haven't heard me talk about this before quickly tell them what this is so we've got used on on dickey mid engine supercars where you just the fifty one kit which is another five grand right that gives you the suspension performance package which if you buy one that right it's got the sticky rounding the nose the whole time so never by McLaren without system for example now most of them you actually have to manually flick up and down they kinda slow and EPS from Axel lift system. I love that idea you gotta you've gotTa have love that any car like this do not by any without front axle lifted dollars for rocky blue paint and to be fair to GM we're used to you look at porsches option prices and we had a nine nine t five hundred orange was five hundred bucks yeah so I think it's a little hydraulics apart from that they're all super slow irritating this is actually claiming to use GPS technology so it learns you around and as you're going to places and you're hitting the front axle lift the front nose lift you go into your driveway going into a parking garage going to the mall you I wanna be like yes I do and it uses. GPS and as you get approaching that area it will do it for you don't have to hit the button every time let's say pack on the DVD five hundred depends kind of add up fifteen hundred then you've got the the the the carbon pack is really just called the carbon one is yeah point speed bumps yeah then we get into some city stuff read calipers I mean you've gotTa have the color it is the full Georgia I think pops in the air like a low rider that also feels like you know when he came into the morning yeah it's the same thing zero five hundred dollars per hour that blue is fantastic it is but you know look at what Porsche charges are paying you know jam at least he's been sensible because my concern is yes sixty thousand over one hundred thousand by the time you fire it's got the fifty four kind of a no brainer that's the new Bryan actually that sounds inexpensive to me but that's also the only one we like I cost more money than the entire paintshop ouster yes was still worth it okay. Gt to seats there's a bunch of different you guys exactly yeah so you add all that together and you end up with eighty one six five five so you've added twenty k. to the to the absolute base of Oh you got handling pack anymore bucks I think so yeah the Magna Ryden Steffi's already okay carbon flash open-wheel grandma's just aesthetic that's that's just does yeah doesn't work too much all your you can get into that kind of mid fat of Eric I Jeez the ground for the performance suspension to grind for the Magna right GPS She got a half that's that's one and a half so probably ten grand over I would argue of those eighteen of those I would argue that probably eight eight to ten grand those are must have so hundred but not much more and then of course will see the the other models and the cabriolet convertible ads seven and a half I want to say yeah this package that like Tennessee put the engine Red Yeah my ninety five yeah it's actually a good looking engine like you know they put the plastic bits over to make it look fancy eight idea droid idea axel lift is great fifteen hundred bucks and the GPS Persia and the GPS store. I don't know some crazy amount like a thousand we did we went over it and they made a big you know they made a big fuss over the structural integrity the same it doesn't add a lot of weight and is down but who's who's who's to blame for that and then maybe it'll tell you hey actually not lifted I duNno I guess we'll find out but anyway we need a bit of a particular for photos I of course read seatbelts okay three ninety five okay flood of pounds it's a lot of money about engine appearance the Gt to which is which is British seats and that is that the version adoptions Farrar for the the GT's feel like the best compromise I fifteen hundred books did you look at the seat options to see the options range from zero what else this is red seat belts to match the Kalpanath that's what what color is the interior block black okay concerns it looks like a black helmet thank you can set point so if you own your commute home the call will automatically you you buy the car you drive see but they did a good job it's cool looking engine and then watch e that's not the red the red engine give a separate engine appearance package I think he's like led's and stuff it just gives you a bit of end on on a C. Eight are there more optical you make it a hundred grand I think all kinds of carbon pits and stuff like could you go that far with it or I reckon you could probably get it Oh to five thousand or and also it's like how how clench do want you to be yeah so you can either have like the American version where you just kind of lull around you could have a lot of faith I've got a lot of faith that it's going to work and it doesn't tell you like if you roll up garage and I'm like Oh yeah it didn't work never has there been a better time right now dodgers offering power dollars with powers you get ten dollars off each horse power of your new car every dodge go to go into you know going with your therapist for the money that you spent like all that stuff and each time you do it the Carl basically some version of it all go you want us to remember this Erin seve and almost eight thousand dollars cash allowance get more power get more off it's that simple hurry to your local dodge dealer today and take advantage of dodge power others I wouldn't drove the Ford explorer this is a very important car for Ford vehicle for Ford good size three rows he's like two of them like at the same track day and I'm like this yellow and feels good got on the block was like this blackwood is fastest shit like well it's got a prototype tune in Ford explorer but first let me tell you a little bit about Dodge our friends at dodge visit visit visit your local dodge dealer for performance technology and great deals how did something like this or the shelby would doesn't make sense to take it to the dino and see what kind of does me probably will with all long term 'cause yeah we do it must have probably the if you just performance you're going to be spending early seventies but then with the technology package late seventies so okay I would say that you know looks like Ford is kind of flooding the launch of the explorer what's going on with that thing yeah they've had some we working on our edmonds top rated awards at the moment so we getting in that for appraisal so we're actually got she's paying proper time in it stopped you guys ever take cars to the diner yeah give it up and then museum delivery I think if you buy one of these nine hundred ninety five bucks as an indulgence but it's fantastic museum and get all the kind of rabid that's a great content piece the three different three different variants into the office it's not the greatest car ever really it's just I know you did it look at this nine elevens and everything the kind of natural price of a of a cold-weather expect most them to change hands is around eighty now how much can you royal drive platforms and that platform also shared with the Lincoln Aviator so hugely important to Ford I honestly I
Hard Factor 10/28: The Leader Of ISIS is DEAD, Former Congresswoman Katie HIll's Dirty Secrets, & The News Buffet
"What he does it better myself go ahead told me something right down not a rate wooded you Joe Man Randy savage this factor in there is no one does it better now it Democratic Representative Katie Hill you know you guys heard about her her her morals are dead those have been dead for a while now integrity and eighty he's dead he sure as shit as well good good riddance good riddance nice all right and then I'm going to do a story about a bon voyage Saturday night Saturday night live also had a bad timing moment on their live show the Saturday when they did a sketch about how trump was bringing jobs back for Isis from the prisoners that were being Ed Baxter this is like if you neglect your shed your backyard shed for several months and then you still congratulate yourself when you go in and you like act like a bad ass read from Syria as we've discussed had pete Davidson come out as isis member who was freed and he's like thanks trump for creating jobs an hour later Dottie was killed so not great timing there for Ford You guys have fun yeah we'll we'll be back hopefully like every quarter for a week and definitely going to have some barstool personalities on and maybe call Ding Dong the witch is dead human piece of garbage and now pieces of actual garbage Isis leader Abu Bakar Albuquerque was killed in a successful US rate of northwestern Syria on Saturday night so good news over the weekend as president trump in the US had a successful operation to take out the Islamic state leader Abu Bakar more into the fact that we created Isis and had a bunch of symphony sympathy for Baghdadi instead of realizing that this is a good thing as most people do including myself I mean I'm sorry not live comedy that happens but kind of funny yeah I mean whatever Saturday night live swinging a mess for them also Pete Davidson Win Win Win Win win it was and Barstool News that work at some point this week we got the logo is is becoming hard factor and Barstool news network nothing changes our policy becoming out as regular but you'll see some branding changes coming up Yep all right let's get into our stories top stories of the day mark is going to tell us all about Isis leader Al Baghdadi taking out all the spiders and the Wasp's nests that have formed like you still pat yourself on the back for being bad ass for taking care of that so you gotta look yourself in the mirror if you're not a fan of this into their serious shows on radio as well as great yeah we got some more Bowtie around the hill come into Oh yeah lots of new content so all good things eight in areas of Iraq and Syria and historically speaking caliphates or governance under Islamic law which calls for election of leadership under suny practice and select all her political career also looks dead as well so lots of death on here and the West is GonNa take us through news buffet of other headlines Go mart okay we don't know how many people yet in the operation but there were reported to be eight helicopters which were met with gunfire according to trump they flew in very low is it Monday October twenty eight that got stuck in New York City such a three man show tonight shout out to everybody at H. Q. and NYC for hosting US last week aw Russia Turkey and Syria apparently knew we were coming and helped keep it hidden and helped let us fly through the commandos managed to land safely and they entered the bill glebe province near the Turkish border which is actually like not a placed that generally harbored isis member so he was like hiding out gives stepping in it everytime tragic political that guy is a black hole steer clear of his ideas but also wasn't the best performance by either the was an awesome trip we can't wait to be back and we're going to be working on making it easier for the people at H. Q. to join us on the show so we can have some more than discuss the news with us on the pod going eleven children were removed uninjured though so we'll get to see how they turn out trump held a congratulatory press conference Sunday morning as he should have as Obama did bin Laden was killed and I'd like to read you some of the hits from that if I may he died after running into a dead end tuttle whimpering and crying and screaming all the way off man so what else happened I guess according to some reports Baghdadi blew himself up when he was cornered and he may have taken three of his children with him it it hasn't been he did a monologue the week before when he came back and it was it was not great body came to prominence in two thousand fourteen guys when he was announced when he announced the creation of cal he died like a dog he died like a coward he just kept repeating he didn't die a hero he died doing by blowing a hole in the wall because they thought the main door was booby-trapped which it probably was an apparently no US troops were harmed or killed nice which is which is cancelled actually because of his movements bin Laden he was moving around to knew he was in our crosshairs according to trump in the raid ended up taking place in the village of Borussia in very big but Osama bin Laden became big with the World Trade Center this is a man who built a whole as he would like to call it a country a caliphate and was it doesn't make much sense to me before we move onto some funnier stories though we need to talk about gambling on the news you can literally do that and get a free I was like just absolutely dancing on the guy's grave which I don't really have a problem with because guys piece but this one is kind of quintessential classic trump here this one Osama bin Laden was kill your own children instead of having them in the hands of the infidel or whatever I mean you'd think you'd want him to survive no matter what I would I would assume so if you really loved them but I don't know arm hit to new highs over this week and yesterday I it's up to seventy five percents and on Thursday got up to seventy eight percents and so on those lines but before we wrap this up did you guys see what The Washington Post obituary headline was to combat trump's comments that the headline this is getting memed in plain sight what kind of like when Osama was in Pakistan right exactly what we got him an undisclosed yeah got him scholar they use scholar the WAPO wop Oh that was their obituary headline well the Walpole in one of our instagram followers are kind of kind of upset by this touch seven which is just disgusting like like he didn't want his kids to live in a world that he wasn't the Caliphate leader that's just fucking pathetic say something kind of I'll say some kind of fucked up here that over the place said austere religious scholar at helm of Islamic state dies at forty eight why no no there's no chance at me Shen of calcium modern day caliphate yes yes exactly bugged out he had been under surveillance for couple of weeks up to two or three raids had been story comes out about him going to be impeached or whatever and then drops a couple cents pick it up as you go because as long as it's forty around forty cents it's great value Gotti who Al Baghdadi Alba Dash is pretty good news right well not according to one of our instagram followers I've been I've been buying lots of stock for trump's repeat and so like I've been picking it up pretty much every time it hits forty it gets down to forty eight every day those kids were probably being groomed to be future ice leaders anyway but it still sucks there were kids I don't know their age but yeah I mean you're you're probably right about that West but it's just discussing fucked up that he's going to be impeached in his first term and then the odds of it happening in two thousand nineteen that's the highest it's been by the way for that and then at the lowest it's ever been for the odds of him being impeached Ah yes on that but it now is the time to fade if you think that it might through I mean they're not gonNA impeach the guy just blew up the body not right now at least trump said anything less than fifty s great value there and then the last one we'll talk about is who's the next European leader to be out of power we've talked about this once before right now in two thousand twenty presidential winners let's talk about that when trump is leading the pack at forty one cents Yes warrants at twenty seven cents yet yes Biden's at fourteen cents yes in Sanders I'm making money hand over fist on that including some reports coming out saying that like literally Democrats inquiry inquiry might bleed into twenty twenty so that right there is like a slam ago then you can like almost triple up if you bet on that remember predicted is one hundred percent legal in all fifty United States it's easy to play once you know what you're doing check out the hard factor blog West Road Katie Hill who is best known for sleeping with pretty much everybody she's ever had any power over has announced her resignation from office on Sunday Twenty Dollars Startup Bonus for first time depositing by using your L. www dot predicted dot org slash promo slash heart factor twenty there hundreds of cool markets bet on around cashed out on my Warren Fade from the last debates today so close making money all right let's move onto Katie Hill Democratic representative from California Howard crying wintering screaming and bringing three kids with him to die the kid thing sucks they know this is a funny one as with most quote unquote rising star Freshman Congress people at turned out hill is really just a self interested sucker fish who was hoping to make a career out of fucking and from a group of Imams in the Shia tradition but daddy's definition of a caliphate was a group of terrorists that like to each other's asses while giving each other reach around suicide bombing videos a loose definite what happened he'll quit her congressional job before the Congressional Ethics Committee could look into her inappropriate relationship with their current legislative director the Republican candidate there's a few people like Bill Bill Weld and some people that are like running against him but they don't have it I don't think they have a chance in hell of getting the primary Republican primary rules in Congress as of two thousand nineteen to actually was totally fine before this year yeah they finally got around to it if timing for Katie if I was able to be in the position where I could suck and fuck my way to the top I think I might give it a go yeah I mean Graham Kelly had the best job in the world I mean West there's always tomorrow you can start running for office you know not pretty enough you see what happened now you'd have to be like the Harvey Weinstein the guy our yeah Graham Kelly was like must've been like a good look couple weeks ago you can search for it on the on the Borstal blog typing and heart factor or if you have any questions is also easy to withdrawal and there are no strings attached with like bonuses rollover dollars sucking your way to amazing endorsement check as a career politician but luckily her dirty Ascott caught quick and now she should stay out of politics if we're all lucky Italy's Giuseppe Kanteh's at twenty six cents yes I love no he no he's staying I love Gross Johnson at thirty eight cents I think that he's clearly the next humiliate her with all of this but I think she humiliated him well yes that's that's definitely true in the case of fucking Graham Kelly but also all right you definitely don't want to be the Katie Hill Katie claims that her that her allegedly abusive husband nine years who she's in the process of getting a divorce with right now is trying to Graham Kelly that's a guy who works in our office and is one year younger than her so basically she was just caught red-handed fucking her staffer which is now against the what I think it was sometimes they were all together and sometimes they would take this other affair person separately I take it back that lady had the best job definitely so the throttle affair even came fully loaded with a leaked nude pick of Katie Hill that she's quitting for right now is the tattoo getting enough press no I feel like the iron cross insignia has not been has not been discussed enough ripping a Bong tits and clam full on tilt to the camera Lens prominent on yeah prominently featuring the Nazi Iron Cross insignia nine cents yes I I mean I like trump or forty one cents yesterday to more than double up I've got all my money on that right I mean like you know he's going to be obviously yeah but but actually her and her husband were sleeping with the same staffer at the same time so I think it was a threesome trouble it was a couple of fair in two thousand nineteen which I've been repetitively saying for the Passover weeks it's not going to happen and I have skin in the game on that one I said I think west us to we bet no one impeachment in two thousand Nineteen Breakfast Johnson is tied with Spain's President I guess that's probably wrong sprains like Prime Minister President Sanchez they're both at thirty eight cents yes and Gloss for lawless operation just just you got to be some kind of some kind Amanda the on that helicopter I couldn't even be you know how like when you I am in the cloud as we have covered we all have our dicks in the cloud somewhere too I'm just happy that this chick got caught being a scummy mess early in her career before she could waste everybody's uh they also were in cahoots together because she already admitted to banging a female campaign staffer from a previous affair on signed to do it again so he's saying this Bin Laden he did this one he had he had to throw that in there oh he's the best best of all time which it's awesome so congratulations Sancha claims are now just flooding in about Okay Hill and her exploits so yeah she missed falling as as a spy mounts you need to bet so sign up at www predicted that org slash promo that's hard factor twenty to get your free twenty because it's so fucking fun yeah it is great it didn't nobody from her college like reach out like I don't know if this girl should be running for Congress just got a few stories from back in the day she sounds pretty promiscuous how's tattooed just to the right of her John that's not great yep yeah exactly so that whole thing with the picture and the throttle affairs completely separate deal from the one room and some people there's an energy just too much big dick pic winner gm those guys I couldn't I would just cower up my dick would shrink my stomach and I would have to excuse myself yeah I'd say thank you for a few here and you guys can weigh on in in with their predictions if I'm right so impeachments we've been talking a lot of impeachments trump's chances of being impeached in his first term while she yeah she it sounds like she could have been goods by material to just have sex with anybody at any time but now that she's been publicly shamed right I'm drunk it's not going to happen in two thousand nineteen what else do we have right around the election they did they try to do that on the first term I would say that you kind of miss the boat if you wanted you people laid eyes on this cross out to the right of China also many many people are saying that quote Unquote Unser Service and go like you know I couldn't hang out those guys we're headed for Chinese honey those guys are tough title headed straight for the number six dance those guys all ad is getting skinny skinny little kid looks charisma you don't want to be the Harvey Weinstein you WanNa be the Graham Kelly in the yeah four she got elected in two thousand eighteen midterms not that fast yeah I mean I've heard of sleeping your way to the top which immediately yeah yeah yeah and so yeah she missed obviously not going to fly under the radar Bonnie ranch yes exactly Yeah I I am not passing judgement on anybody for having their tits I being dirty career politician for years to come because you see the current staffer that she was fucking Graham whatever he was he was one of only we're of her staff to get a bonus check this year in his was by far by far the highest so in the wettest yeah exactly he got a few bonuses right taking it to the Internet Gene Tore Gano says girl I wouldn't have resigned until forty-five resigned period and okay so yeah but I mean that's that was pretty much the one hundred percent the liberal take here's another take Bill Boland says I wonder how many men she has exploited anyways my comment for Katie would be that she can always just hop straight into lucrative porn career because that bong nude like on the cover of DVD would just move units so ask especially though like on a leather hotel chair that's just a leather sweat the note as auto brewery syndrome or abs what does that so it's it's crazy basically there was so much yeast in his gastrointestinal tract that when he would eat card enamored so yeah it's not a common thing it's treated with antifungal medications I don't know if I found out what a treat it yeah I might write it out and I hope they will speak out in are not ashamed I mean West was volunteering so I mean probably a lot that's true I'm sure there's a ton and then he wants again till the hospital staff he had any drinks they thought he was full of Shit naturally however it was later found out that he wasn't Fulla Shit and instead had a rare condition particular condition but either way I bet the good people at neum could help craft nutrition and exercise regimen for this dude to follow so that he could feel as healthy as possible his body would turn them into alcohol so he was his own glory auto brewery that's right yeah as article puts it his belly was brewing beer in an Exercise Tracking Weight Management Coaching and mental motivation Numa signs your personal coach that guide you through your weight loss journey and helps you keep entre dating a North Carolina man got pulled over on suspicion of Dui he refused to take a breathalyzer and said he had not had any alkyl of course cop Saudis Bullshit the cops took him into the hospital you know I mean I mean he's he's he's a scoundrel in the sheets as well but he hasn't gotten caught with multiple fares not in office right and not breaking any of the rules in office with that finally my favorite take on this or hey Lorenzo Meyer back says the only thing that bothers me about this is that she sat bare ass on a hotel chair and anybody who would times the legal limit way too drunk to like pretend to not be drunk right yeah you're you're just automatically full of shit you're like giggling drunk right yeah yeah you can't stand what about it yeah no you don't what I looked out and I can see like an asset allocation I don't feel good about sitting anywhere in anyone's house really I don't even feel good about my house and yes always an option now climb Katie's hill joke there somewhere hill Mount Cherry hill that should not be in any kind of power so I mean I mean that is that is we've all done that right of course yeah you you leave that all right guys moving onto news buffet new baby Josie this one is crazy some of you may have heard it but it's news to us and it is fast back with your personal weight management goals whether you want to lose weight fast lose it slow or just eat better to feel healthier Numa customize your program and stay on top of you wants his Antifungal is run their course Eggo F for those who don't know Neum Spelled N. O. M. is an all inclusive APP for nutrition gene bangles everywhere yeah no shit so pretty crazy apparently it sits you know other people have had it and it was discovered back in the nineteen ten is not well I'm not sure if they specialize in he was so drunk I guess and when a test was at finally administered it was found he had a point two percent PAC level pretty fucking drunk really dry yeah two point five for a while surly would save some money instead of being a twelve pack I'd buy a loaf of bread fucking have a partner they brewed beer inside of steel barrels for reason eh unhealthy intestinal that's a lot of ustad running around in your stomach sounds to me like he had luckiest man on earth disease yeah I mean if the sky ate a plate of Spaghetti he was to keep you motivated and keep you going I've been using new for the last month just over a month and about ten pounds down from where I started feeling great definitely way Theorin more in control of my diet than from before I started and I'm very excited to keep going with noon for the long haul maybe fuck around make by Dr Happy for once it might I thought if you're soft stomach lining just have alcohol being brewed inside of it all the time it'd be have bagels all over the fucking house Congress sign up for your trial today at neum that's no dot com slash hard factor. What do you have to lose visit neum dot com slash checkup you know how long has it been since you guys pleased your doctorate your trip yeah it's like it's like he he asks you for the blood pressure and then you're like you want to do it to you both have high blood pressure and maybe we're looking at it maybe with Neum I'll be able to break the cycle anyways you don't have to change it all one day small steps make big but apparently you offer too much money so much so that the original hitman offered to another for half the price that Hitman then offered it to another and another until factor to start your new trial today that's neum dot com slash heart factor the last weight loss program you'll ever need nice yeah give it a shot all right moving on a number of you out there deemed us this story about five hit men who were arrested after each one of them didn't want to carry out the deed and pass it on to each other hitman was so pissed at the small amount of pay when the contract eventually got to him that he told the target that just fake his own death which of course led the target to go to the police and the whole hitmen were involved in the contract this sounds like the Katie Hill story but hers was just men so two hitmen right yeah yeah it's fucking crazy so the fifth adult this guy thought it was going to go on for years and he was going to get sucked out of a bunch of money with the court proceedings so he said I'll just fucking kill him so he was willing to pay two hundred and eighteen thousand dollars to have him off the first half of a hit of money for a hit first of all there's nothing that you can do to make them do the hit and second of all they can automatically cash also the last hitman is so dumb that he thought like a multi million Air Chinese businessmen would fake his death and disappear make a small profit so a Chinese businessman wanted to competitor dead basically he yeah he was he was he was in a court unraveled spill the beans yeah he was just pissed and I guess it wasn't enough to actually kill him it's like having your drugs stepped onto many times a hitman tracking transaction is like the least four shore transaction you're ever GonNa do in your entire life because you have no fucking way to enforce it like you pay anybody five Hitman and and and the guy that piece of shit who originally hired the first Hitman all five were jailed with the first hitman getting only three years the man who hired them mcmeel you for your entire life I mean you're you're like you're just as likely to get killed yourself by offering the hit because they they know you have cash and they can just kill you for the rest it sure yeah
Lets Go To Suze School: Investing For Retirement
"I'm not sure what I WANNA. Call today's podcast 'cause there's so many things that I have on my mind that I want to talk to you about. I could go in so many different directions so I'm GonNa just kind of ramble all today to you about things that are on my mind and if they're on my mind it's because you need to know about them. So let's begin first you are writing in and many of you are asking me if you have enough money to retire and you're showing me what you have in your far O one K.'s and your Roth I._R._A.'s and your pension and your homes that you own outright or whatever ever it may be and you're saying. Can you afford to retire but what you are not thinking about is this and I need you to listen to me closely women. We live longer than men actually speaking. I've said this before I'm GonNa say it. My father died at seventy one my mother and she was sixty six at the time he died. She lived till she was ninety. Seven years of age for thirty one more years just look around at any nursing home or any adult community and you will see far more women than men and why why is that because men die before we do and the mistake that you are making when it comes to your retirement planning is that you keep figuring this is what we're both getting for social security. This is what he gets his pension and I get fifty percent of it or I don't get any of it. This is how much we have going on but you're not taking the time to assume that your spouse has died now. Do you have enough money to retire. You cannot count on both social security checks both this both that if you're going to lose some of that income when on a death occurs now think about this you're both getting a social security. Check and you have figured out your retirement on both of you getting a social security check and now your spouse dies and maybe his social security check. If you're married to a man is more than yours what happens you then. Stop getting your social security. Check and you take over your spouse's social social security check but you now are out a considerable amount of money every single month the next thing you have to really figure out when looking at your retirement isn't do you. We have enough to keep going when everything's healthy and everything's good you have to hope for the best but plan for the worst. I've told you this before and so you have to assume okay. We have this much money. I I have a great life insurance policy. Even though I hate whole life insurance policies I could not be getting more emails. Now you know a few weeks ago I did a podcast on teachers and nurses and their whole life policies the amount of. Male that I am getting where you are realizing what a big rip off the whole life policies are that you've been doing. It's not even funny so all right but you have insurance you feel great. Everything's good but what you have not planned for is all of a sudden. Your husband has a stroke or your spouse gets ill and now that person has to go into a nursing home and you don't have long term care insurance errands and now it's costing you ten thousand fifteen thousand dollars a month in order to keep your spouse in a nursing home at the exact same time you still have your same expenses where for you talk live at your home but you didn't plan for that so now what you're doing is you're having to withdraw money from your retirement. Accounts and most of your retirement accounts are pre-tax so you have to take it out pay taxes on it now because you're taking so much income and everything's coming out now. You'RE GONNA have to pay taxes. Possibly on your social security checks and here we are all of your retirement. Money is going to keep your spouse where in the nursing home now the spouse dies. Do you understand where I'm going here so when you spend the time to figure out if you can afford to retire if you are married and your retirement is based on both of your social security checks may be a pension whatever it may be you have got to plan it as if you retire and the very next day one of you is will the surviving surviving spouse be able to be okay financially speaking for the rest of his or her life. That's what you need to do to figure out if you can afford to retire if you are single and and you don't have any dependents and you're not really counting on anybody else's incomer anything okay. It's a whole nother deal but most of you writing in our with spouse and trying to figure it out that way. That's one something that's been bothering me next thing. That's been bothering me. I just want to make sure that you are absolutely clear that when I am talking about a Roth I._R._A.. In any way that and I'm talking about it as you know a Roth retirement account whether it's a Roth I._R._A.. Or Roth 4. Or Roth four zero three B are my absolute favorite kinds of retirement accounts bar numb and I don't care air what tax bracket you're in. I don't care that you're going to have to pay more on your income taxes today. The younger you are the more I love them for you because over time when she wants your money to grow tax free versus tax deferred and you don't even know what kind of tax you're going to have to pay later on in life when you go to withdraw but when I'm talking about it I do not and I repeat. I do not want you if you have a lump sum of money that you have already invested in a traditional I._R._A.. Are a traditional 4. Or Four Zero Three B or T._S._p.. If you're in the military I do not want you to convert that op money to a roth account and the money that you convert. You're going to ordinary income taxes on it so until you consult a C._p._A.. Just leave the money that you've already invested. A Loan I'm talking about your new contributions that you are going to be making those new contributions should go to the Roth 4. Or four zero three B or a Roth I._R._A.. And everybody you need to we know that you can have an I._R._A.. Account along with the 4. Account you need to know that so you can have both of those things so that is another thing that has been bothering me because I think some of you may be making mistakes because you don't understand it. Also this five year rule you are writing me in and you are confused about it so please listen carefully. There are two main types of Roth. I._R._A.'s the first is a contributory Roth. A contributory Roth is where you every year funded with money that you have already paid taxes on you. Make a contribution to it and that is your retirement account or one of them. If you are in the year two thousand nineteen under fifty you can put up to a maximum of six thousand dollars a year in that account. If you are fifty or older you can put a maximum of seven thousand dollars a year in that account assuming that you make at least six or seven thousand dollars a year of earned income got that when you have a contributory Roth I._R._A.. The amount of money that you originally contributed that you originally leap put in six thousand dollars this year six thousand dollars next year six thousand a year after that you've put in eighteen thousand dollars and now let's say you're thirty eight years of age and that eighteen thousand on dollars has grown to twenty thousand dollars you can take out anything up to that eight eighteen thousand dollars that you want without taxes or penalties regardless artless of your age or how long that money has been in there it is that two thousand dollars of growth in this situation where you have got to have that account for at least five years there's and be at least fifty nine and a half years of age before you can take out those earnings tax free. Are you clear on that. Your original contributions abuses. You can withdraw anytime you want with a contributory rob I._R._A.. It is the earnings growth on that money that has to be in there for at least five years until you are at least fifty nine and a half years of age next second type of Roth I._R._A.. And listen closely now. You have a traditional I._R._A.. And you want to convert it to a Roth I._R._A.. There are no income limitations to be able to do so. Anybody can do that so if you have a traditional I._R._A.. A Sep I._R._A.. As Simple I._R._A.. And you want to convert it to a roth you can. You can also take money. That's in a employers retirement account that maybe you're no longer working for and you can do an i._R._A.. Rollover into a Roth I._R._A.. But it's still a conversion really really when you convert money any amount of money that you convert you are going to oh ordinary income tax on that money got that but here's what else you need to understand. <hes> like a contributory Roth I._R._A.. That you can take your contributions out the money you already have pay taxes on anytime you want that is not true who converted Roth I._R._A.. When you convert money even though you have paid taxes on that money in order to withdraw that money penalty free free and tax free it has got to be in there for at least five years the earnings on that money have to be in there for at least five years or until you're fifty nine and a half whichever one comes last? Did you hear that whichever one comes last so if you convert money right now into a Roth I._R._A.. I._R._A. And you're fifty eight years of age you now pay tax on it. You'RE GONNA be fifty nine and a half in a year and a half that money has got to stay in there until you are sixty three years of age to be able take it out tax free five years or fifty nine and a half which ever one comes last. It is very very important that you know these rules. These rules also apply why too if you inherit an I._R._A.. especially a Roth I._R._A.. Esa How long that money has been in there before your kids can take it out tax free so these art things that you need to check with your C._p._a.. About you need to be very clear about these rules and how they work next a lot of times I say to you. You absolutely should if you have a 4. At an old employer you should do an I._R._A.. Rollover with it. There are exceptions to this rule now. Listen closely to me if you make over the income limitations for a Roth I._R._A.. To have a contributory Roth I._R._A.. What are those income limitations? If you are single you you can put in a full contribution to a Roth I._R._A.. If you make under one hundred twenty two thousand dollars a year of adjusted gross income once you make over one hundred thirty seven thousand dollars a year you no longer anger qualify for a contributory Roth I._R._A.. If you are married finally jointly you can put in a full contribution as long as you're joint income is under one hundred and ninety three thousand dollars a year of adjusted gross income and you no longer qualify for a roth once you make over two hundred three thousand but just because you no longer qualify for a contributory. Tributary Roth does not mean that you can't get money in to a Roth I._R._A.. And the way that you do it is through a back door Roth I._R._A.. And normally what that means is you open up <hes> non deductible I._R._A.. You put money in a regular I._R._A.. You're just not going to deduct it and you convert it to a roth. The only reason you don't want to do that is if you have other I. R. A.'s Traditional I._R._A.. SIP I._R._A.'S I._R._A.. rollovers if you have other I._R._A.. Accounts and you decide to to do a back door Roth I._R._A.. Your Back Door Roth I._R._A.. Is going to be taxed you according to a pro rata formula and I'm not GonNa get complicated on new here but most of you who we do a back door Roth I._R._A.. The perfect scenario to do one is you. Don't have an I._R._A.. Rollover you don't have a traditional I._R._A.. You have no other I R as you don't qualify for or a Roth I._R._A.. So you open up an I._R._A.. And you convert it now. We're great great. Everything's great. It's a non deductible I._R._A.. And you convert it but if you have other other ones it becomes very complicated so if you have an I._R._A.. Rollover if you have money at an old employers retirement account rather than doing an I r a rollover with it you might want to roll it over to your new employer's retirement account. You might even WanNa take your I._R._A.. Rollover that you are ready rolled over and put it back into your new employer's retirement fireman account so then you can easily do a back door Roth I._R._A.. Now are your head spinning. I bet they're spinning. I can make your head spin but here's what's so great about this podcast you you can listen to it over and over and over again until you absolutely get exactly what I am saying to you so that you are clear because the other thing that has been bothering me is that you go to see financial advisers. These advisers see that you make too much money for contributory Roth I._R._A.. And they tell you you have no other other choices. You can't have one and they don't tell you about all the possibilities that are out there. The other thing that I just want to say is this a a lot of you are fifty five and older. A lot of you are wanting to retire from your place of employment and you are asking me if you should do an I._R._A.. Rollover roll over with the money that is in your 4. Invest it so that you can live off the income and the answer to that is no you should not if you are fifty five and older but under. Under the age of fifty nine and a half leave your money in your employers retirement account because there is a rule that allows you to take any money that's in an employer sponsored retirement airman plan. If you'd left service in the year that you turn fifty five or older you can withdraw that money without having to pay the ten percent penalty tax on it of course you'll have to pay ordinary income but not the ten percents penalty tax. If you roll it over to an I r a rollover you cannot touch it in any way that you want without up to ten percent penalty until you attain the age of fifty nine and a half these are the little things that bother me and they bother me because these little things can add up to a lot of money next. I just want to say one other thing about I._R._A.. rollovers many of your places where you work they will allow you to keep any money you want as long as it's over five thousand dollars in most cases in your 4. Or Four Zero Three B plan that you all ready have should you leave of it there or should you roll it over. Here's again something I just want you to think about. I would much rather you leave it in your old employers retirement plan as long as you know that the expenses prices are very low and you're familiar with how it works I rather you stayed there safe and sound then roll it over to some brokerage firm and get in the hands of some financial adviser her who all of a sudden has convinced you to do this and to do that and do this and that with it a lot of the things that don't make sense and now you're in a situation where you write me and I have to point out to you the big mistake that you made and you just feel horrific about it but there's nothing you can do about it so again. I'm going back on some of the advice that I've given you now that I'm reading your emails. It's not just an automatic thing that once she retire from a place you're no longer working at an old employers place and you have a retirement there. It's no longer given that you just do an i._R._A.. Rollover with it. We have to really think about it do make too much for a contributory rothen. Are you gonNa WanNa do a contributory rot but you have to do a back door. Roth then you don't want to do an IRA rollover. Do you not know what to do with money so you're afraid and you feel more secure leaving it at your old. Employers is place great leave if there as long as the expenses are reasonable so again. I love this podcast. I love all of you so much. It's not even funny but there is no advice that fits every single one of you out there. Every one of you is special. Every one of you is in a different situation so please just take that into consideration when you're hearing the things that I want you to to do I can go on and on but I have a feeling that your head is spinning so maybe I'll just call this podcast. Let's go to Susie school here. Are the things that Susie.
711: Income Allocation
"Dental preneurs it's hard to believe but it's that time of year again time to register for the Eighth Annual Dental Success Summit and for those of you listeners have never attended the dental success summit before building resources sixty percent limited time early bird pricing make sure you go today to true dental success dot com that's true retirement accounts all those things are really important but there are certain benchmarks and there are certain accounts we believe that you need to fund dubbed the world's toughest Man David Goggin I'm super excited to have David there and Saturdays keynote is another hero of mine heroes will be keynoting this year summit Fridays keynote is navy seal world record holder and New York Times bestselling author once Uh Dental Success Dot com cannot wait to see you guys in Scottsdale has it comes in and look we're not CPA's but we have come up with a really great formula on the different types of accounts that we feel need to be funded before you aggressively path debt before you aggressively invest in the stock market or contribute to your Recorded several months ago and it is a riff about income allocation and what you should do with your cash real world action plan that will close the gap between where you are now and where you want to be in your business and your life and if you're wondering whether or not the dental preneurs podcast okay doctor it's time to put down that hand piece you're listening to the order to keep yourself safe as far as the business and operating account a slush fund or a reserve account for Your Business and your personal life we go over all of that stuff the dent in the areas of leadership systems -ation and efficiency especially excited to announce that not one but two of my personal here cert- Ridge in Scottsdale Arizona this summit has sold out for the last five years running and our seating capacity is limited to just eight hundred seats which will should bring your team we have incredible breakout sessions planned run by are traveling implementer and lead office coach K. Dog herself additional speakers will be announced soon this year the summit returns to my favorite resort west of the Mississippi the J W Marriott the dental success summit is the antithesis of all the dull and boring dental conferences that you may have attended in the past at this event you'll actually walk away with Dr Mark Kostas Hello and welcome to another episode of the Podcast I'm your host Dr Costas Hope You guys are great out there today this is a replay of a facebook live that Diaz size financial analyst Mr j Conway and I joe dedicated to helping dentists get their lives back it's time to decrease your stress increase your ability and reading your passion now introducing your host Phil Long before the date of the event which is March twenty seventh and Twenty eight two thousand twenty if you'd like to attend this event and take advantage of our and Answering that question that we get so many times where is my money so I hope you enjoy this episode G CHECK CHECK CHECK WITH OBJECT ROUTE MR J Conway we've been working on lots of really cool stuff today we're GONNA be talking about income allocation He is a common or a AAC Michael Owens Mike is also a New York Times bestselling author of the Book Prophet I one of the most popular business books of all time radio but hope you guys enjoy and get some value out of it so this is Jay Conway the financial analyst at Ti and myself on income allocation. Let's go man I can't hear you no I can't hear myself either Hello Oh as so I hope you guys enjoy this like I said the the audio might be a little rough because this is taken directly from a facebook live an audio ripped from a facebook live you've seen right so like all that knowledge that we have I think we quickly identified this is a pretty pretty helpful and digestible questions on okay now overhead is under fifty percent of all this cash debate had ally Allocating all this all these funds that make sense I thought my scorecard was he said that my overhead was fifty six percent this month which is down three percent still no money in the account so but for me you say that I'm x dollars profitable where the heck is the mind right there's no money left all the time guys doing over there so I thought we facebook live this is that a is that a verb thought we'd F. B. L. F. B. L. at yeah cream city we sent in our PNL's we sent in our balance sheets you guys have generated this customized practice analytics scorecard super boring you super unsexy but believe it or not this is one of the most common questions that we get in that is what to do with your income so welcome mark uses to analyze overhead your profitability allegd stuff but the as we start to save money drag overhead down oversee profitability increases. We've gotten a a lot of a frequent guest on the podcast so we thought we would record a podcast episode since we share an office that maybe we would just how to allocate towards debt at allocate towards savings how to ensure that you're covered as far as taxes go and all that stuff yes what you do with the cash that comes in it actually is something it is really really common question that we get all the not just our clients but from people outside of the SL wondering FBI FBI though so here we go all right the topic today is income allocation in so you can take some of these methods that we've developed I mean this is kind of thin air but it was a nation of all the years and practices Russian I mean it happened enough times and we got enough of the same question over and over again that we started saying you know we need to put a formal process together what say you about that those sorts of questions however be yeah I would be look at what you're drawing as as a as an owner the production a collection expenses in the prophet right against the fog bouncing ball at the US but don't take it one step further to look at their you know five to six step process that will really make a big difference on you know where to where to put your money in how to allocate funds so it makes sense to you I'm to the podcast Jay Katelyn thank you yeah so how often do we get the question the simple very simple question are you guys so so that's one side of the coin here where is my money and then we have the other side of the coin is I have this windfall or you guys are doing a great job were decreasing our overhead O'Donnell podcast I'm your host Dr Mark Costa's and sit next to me here's a handsome devil named Jake Conway Today we're GonNa be talking about something that sounds things are really really great things we want you to be aggressive and get eventually to a no debt status rolling want you to have as many as much happened before people get super aggressive about paying down debt super aggressive about getting exotic with their investments of course all these things obviously is making sure that you're setting aside the appropriate amount of money for Texas correct that's a biggie biggie I mean I am Geez I've made the mistake so why don't you just talk about you know how much did you have in savings how much liquidity should you have how much should you set aside sorry about that how much she should set aside heffer year and we totally missed the mark on you're not savings amount of money that we had to set aside for our tax for that particular years many times where my cj underestimated what my tax liability is going to be for a given year or we've over estimated are underestimated the amount of income that we're actually going retirement savings as possible but we do believe that there are certain steps that you should actually walked through to make really practical in one of those numb you know what debt do you have including your interest each month in house affecting your your your take on because people look at those top audio exactly all the time so sure some of you most of you may know we we run customer practice legs which is a product that that myself for not only myself but for the business and tax implications all that good stuff so I feel like we've we've simplified it pretty well at this time to to really do it yourself there is an excess of cash now do I get super aggressive and paid like my CBC Thi loan do I get super aggressive and put it towards my you're coaching methods we have phase one two three will now we actually have phase Wazir through three when it comes to building up these accounts and Ed for taxes yet safety net for the practices so let's just go through I believe in the podcast so if you guys don't know this dude over here this handsome devil to my right is our financial analyst here at Donald Successes my student loan debt radio shows I try to you know pay off my house at nine years do I maximize my qualified funds the list I mean we don't enough to have been all totally memorized but I love this topic allocating allocating extra fultz right so gopher in that preface I account that we're talking about operate account again these are the different phases so phase one would be between zero to less than including interest so this is separate completely separate from overhead that's a totally separate formula so we're talking about everything that you need to pay in the practice before I call a safety net net for the dental practice in an ideal scenario right yeah so let's let's let's the council be cool we'd be set I think we yourself up for basically no surprises in you have cash in the bank in a in a strategic way as Morton more strategy than anything the business of debt in our thrown the personal debt as well to see what the troop locations of the of that debt is to your personal income yeah in Tusla casual and personal castle ahead of variable cost plus what you pay yourself as the owner nuts w. two draws whatever that is plus associates Associate Doctors for this so we've created this thing called kind of income allocation Shichi backup for lack of a better term and there are certain things that we like to see and variable cost to the business each month we've identified a threshold in phases with that so avid listeners. You know the are food plus your debt which that's a big big so overhead Dr Income owner associate and your debt your debt service each month so again same same principles same same mug accusations face three which that's the ultimate holy grail here that would be a two time to to the first thing that we came up with was income allegation cheap it's super lane will come up with a better name but that that's basically I like to see a certain amount of money in the surprises so okay so have I mean our thing is that you and I talking the same language for a lot of different years where we never had like official name so this thing start of you know we're not we're not CPA's not tell you how to allocate your money tax purposes this is just a guide to give you options and make it so that you said you're just a good place to start secretly what you're drawing what your w. two all that good stuff what that looks like in relation to your revenue Dosso is getting debt strips talked about that a lot about for your personal finances but the reason that we do that is because if you think about you are covered most of you guys hopefully are covered for insurance onto one and a half times your of that of that break even point so if you start making your money your decreasing your overhead your profitability increase we correct some being savings accounts some being checking accounts correct yet so the I wanted the operating account which we we've identified this as I mean this this is the account that you're GonNa be paying your fixed us of that MBA Montebourg even point yeah so okay let's just say that your break even point is seventy five thousand dollars for one hundred thousand dollar total okay so we want you to have as a safety net at least seventy five thousand dollars in total funds in some sort of a savings account you can all we work right so if something catastrophic happens if you happen to get in an accident or you're disabled for whatever reason you should be covered at some minimal agree with your your your disability insurance but the more money that you have set aside to bridge that gap the better absolutely absolutely so the two back surgeries and you usually don't get access to the the insurance coverage until ninety days has the actual rain ceasing of the preface that so if you're if you're interested in a million dollars that's great for you this is just a way to make sure that your allocating funds correctly so that you don't get hit with any defied real simple four accounts that you can set up today to to get this process rolling very simple to do and you're talking about separate actual business account is okay back back to the former so a phase zero would be walk between zero and less than one of that so here if you're basically living sometimes of your fixed and variable costs so what is what I mean by that so that's basically your you'll recalling the N. b. e. right there's any excess cash correct right so we call that monthly break even points people call the ban the bare minimum some people call it different things so wherever your break even point all that stuff goes into kind of one lump sum in that's what your break even point is for your personal finances too and what is the formula that we like to use for break-even plan for right you're you're you're covered for insurance just in case something happens to you write a disability insurance and usually and this has happened to me before and put a bunch of stuff towards might by towards my 401k or my retirement accounts do I buy in income property what do I do with all this cat check to paycheck per se you know just each monkey to have collection just to make payroll we considered up phaser so we build to that next phase so the next phase will be you know the finance perspective what we identified as the ideal scenario so that you're safe as far as your personal expenses you're going to have a monthly break even point for to see exactly what that number is once you've identified that number we propose events eventually again this is a phase sophisticated and get drill down to what you're paying for utilities like every single dime in CD contract every single expense out of your personal checking credit cards whatever I can't get ready to go ahead and start recording jer all right hello everyone welcome to another episode eventually at some point would love to see three plus your your personal financial break even point yeah okay so if if if the typical Mike Von advisors and they're like dude you gotta figure out exactly how much it is that you're spending every month as your break even point for your personal finance how much is is now yes not to keep in mind I know that sounds like a lot of cash right a hundred fifty thousand dollars in your in your safety net account for the practice in addition to what we're GONNA talk intention behind it you know we want to times that operating expense that break even point for your practice and we want to three times a your personal over adjusted brush right so you have or collected so you have one hundred thousand dollars collections and your your MBA is seventy five thousand dollars lower has sixteen eighteen thousand dollars a month multiply that by three and that's what we'd like to see for you guys had some sort of access to liquidity as far as a safety net in Europe okay that is that is the reason that we came up with that figure now let's talk about from a personal finance that we're bouncing back and forth here but let's talk about from a personal the two times that's not absolutely necessary but you can go all the way to times that as a safety measure just a place to keep some cash just in case anything catastrophic happens the last one is in no particular order is is the tax account but a bit this needs to be established you know with along agency if you break your hand in a football game done before so continue on with the different counts that that we need to pay attention today is a day of Akron NBC monthly break even point so monthly break even point I guess I'll backup in identified that monkey breaking point as we see it as your own the operating account should be ideally at at what percentage of your of your income so operating accounts should be that about one to learn a half times you know letting go and deploying some of this cash manner but we like to see or would you divide is between twenty and twenty five percent of your profit for that month after you've paid all expenses missile financier liquidating your personal liquid. Yes so that I mean so many people don't like we do this for businesses right but so few I've seen actually don't do this for for their personal finances tax liabilities a youth you know obviously you will see in the future but this is just a way to to take some kind of profit for US method that we've talked about and enrolled into action so mark on your person your personal finances will be all that you know your mortgage your debt any debt associated a credit card payments you know all these personal expenditures in out get you get hit with a bit of a surprise maybe lower higher but the bottom line is in the day you're going to have cash on hand strictly for tax basically don't even see that's that's the whole WanNa see that this account at least operating at one to one and a half times phase one phase two was one and a half to two times hey how much is private school how much is how much is your clothing allowance how much is your food allowance Allegis your you know your team your entertainment Jesse people alongside of everything we're talking about this this is probably the most important and what's of this account is basically just for we were actually identified Nashville a few CPA's about this which This may seem high this could be something you work towards if you're not comfortable with with I'm sorry a jumped to fund teeth fast but just knowing right yes on his funds no it's just a piece of mind knowing that you're going to be okay if he has traffic happens if there's an US whole methodology that so again setting up these four counts you party have your operating account up let's hope so okay let's let's just go over this piece figure in front of me I think I remember recent Ryan's saying that the typical dentists established ns to their over their personal monthly overhead Sixteen eighteen thousand dollars a month okay assist say is your funding these accounts reflect your funding your safety net you're funding your operating account you're funding your tax account you're funding your business safety net as well after you're you're a Christian Yup of your revenue I mean we don't have a percentage separate that is basically whatever your hard dollar amount is for your personal safety number two in over that so I if there is identifying what your chew expenses are dollar amount each personal expenses and maybe even add on invest or or you know double down investing or you know making an extra payment on your mortgage or whatever it happens to be you guys have the discretion to do that that any excess cash beyond that so you should feel guilty about the point that to go on vacation or to buy something nice for your spouse or invest or ahead as a safety net once you funded those accounts then you could have more fun and and you can figure out where to allocate that money right here not necessarily funny she's a savings account to ultimately three plus that that that that personal break-even point yeah that's great I mean if you think about that a nonprofit twenty to twenty five percent of your total gross revenue not profit profit okay that's what the CPA cassette were happened and he went over that Mark You have that Satan it to ensure that you're going to be the next ninety days at the very least next that tax personal savings and then once you once you've kind of this is really liberating may be bad news for some of you guys but it's super liberating to know that if you have a goal in mind and there's this is mean if you do this for business if you've done this before or have does exercise I recommend doing this for your personal finances as well but but to your point or question is liberating to be able to all those accounts and then know that once those are all funded and taking care of every single month yet take a glance at three different accounts make sure that you're as we conscious covered briefly before you start looking at that but ultimately I mean getting two three times in these separate categories these different accounts we just went over I think that that's the ultimate data I really really want to focus on my student loan debt because a couple of the pieces of the student loan debt might be higher interest rate of a variable fixed rate now are variable rate than Michael Love it next Feller Yeah it ladies and gentlemen as always financial analyst here at the by Mr j Conway and that is it up for another episode of the Dental Plan podcast look forward to reconnecting on the next episode thank you so much for
Spotlight: Is Better Healthcare At Dramatically Lower Costs Possible In The U.S.?
"Hello I'm Steve Forbes and this is what's ahead we go over topics and subjects and events that affect you the economy and indeed the world well with the election campaign heating up. Healthcare costs are going to be a big issue and that raises a big question. Can we really get less expensive healthcare in this country and more and better healthcare? The surprising answer is yes. Let's go over two sets of examples one overseas and others here at home. Singapore delivers better healthcare than the United States. At twenty five percent of the cost. Their life expectancy is higher. Infant mortality rates lower and the costs are much much cheaper take over and Heart. Surgery cost one hundred thirty thousand dollars in the US eighteen thousand dollars in Singapore. So how do they do it? Better health care less cost. They do it by putting the patient in charge not government not insurance companies and Singapore Chunk of your salaries taken out to go into the equivalent of medical savings accounts to cover routine expenses and catastrophic expenses. But those accounts belong to the individual not the government so you get competition from hospitals from clinic some doctors from pharmacies. They all have to post prices. So you can comparison shop. They have to please you not some third party not so. Singapore does it and it works well now here at home. Take the state of Indiana back in two thousand seven. Indiana offered its state employees. Comprehensive Insurance plan that a high deductible and a medical savings account the medical savings account equal the high deductible and the state put all the money in that savings account but a belong to you so if you got generic drug it'll slower price. That was your savings. Not The state. As a result cost came down. Thirty five percent and outcomes where the same or even better Indiana's pioneering this with its own Medicaid state program to other quick examples. Lazic SURGERY FOR THE IS. That's not covered by insurance in the United States in the last twenty years or so even though demand is going up enormously outcomes are better and the real costs are down. Fifty percent elective cosmetic surgery. Demand has surged but real costs over the years down. Twenty five percent so the bottom line is clear. America should go for high deductible. Health care policies with medical savings accounts that are financed by employers and demand. The prices be posted by all healthcare providers for everything just as they do in Singapore. Then we can get more health care better healthcare at less cost. I'm Steve Forbes. Thanks for listening. Look forward to our next conversation in the meantime. Don't hesitate to send in comments. Or suggestions for topics take care.
Inflation and You
"The from san diego california. It's the through life. Podcast with your host ricky hershey. Welcome to the frog life. Some people have been asking me lately. Ricky what is going on with the price of bitcoin. Bitcoin was about thirteen thousand dollars at the end of october. And now near the end of november it is around eighteen thousand dollars a bitcoin which is about a five thousand dollar increase and it actually was a little bit higher just a few days ago and has dropped down just slightly now so some people have been asking me what's causing us. One potential answer is that the market is looking for ways to reduce inflation risk. So as you may know the federal reserve has been quote printing money now. I i hate the terminology printing money because the federal reserve doesn't print money. That's the treasury. But they are figuratively printing. Bunny in the sense that they are buying securities out of the market and giving institutions cash. And so there is new cash in circulation. That wasn't before. Of course this cash is digital. Right it's not physical currency it's just credited into various institutions federal reserve accounts. Now this is taking place in two forms regular open market operations and something else called quantitative easing. Actually these topics are like a whole hour lecture at least on their own but in essence. It's what i described a second ago. The federal reserve buys securities from institutions in gives them money dollars which puts more money into circulation into the economy. There's a problem though. And that is when more money enters the economy but the level of goods and services remains constant that means that those goods and services are just worth more money and that is at its heart inflation. We can see this. In other countries in the world of postwar germany they just started printing deutschmarks and more and more and more and eventually the money became so worthless. People would just burn it to stay warm suggest. Printing more money may not help the economy. It may just cause inflation. And we've seen that in modern examples to i think Zimbabwe is an example of this. I believe they had what ten trillion dollar note or ten trillion whatever their currency was called and other currency has gone because they couldn't run and defectively now they just use the currency of other countries. So when the united states started increasing its money supply. Some people began to get worried and so they looked for assets that are protected from inflation. We can also see some further evidence of this by looking at tips so tips are transient inflation. Protected securities and so as inflation increases. These tips are protected. Gains the wise little beyond the scope of this episode but if we look at the yields on tips we can see people's inflation expectations and those yields right now are negative meaning. People are so afraid of inflation that they're willing to buy a security with a negative yield right. Now the quote. I'm looking at for a five-year. Tips is one point three so you are paying one point. Three percents for the privilege that if inflation takes place you'll have a security. That is a protected from it. But i mean you're still for it at this point if inflation does rise than there may be some nominal return so i've established that there is a great fear of inflation in the market now and i think one could logically conclude that investing in cryptocurrency may be appealing to somebody who's afraid of inflation now. Why is bitcoin potentially good against inflation while the supply of bitcoin and other cryptocurrencies is set. Not that the amount is set right now but as new currency is mined it's mind and added in a predictable fashion and eventually will be a hard cap on on bitcoin and some other cryptocurrencies. That there can't be more than a certain amount in circulation ever. And i think that fear of inflation is what drove the price of bitcoin up. Now why is it going down right now. That's a good question. The markets are fickle. There's no way to tell what they're going to do. A lot of times. The markets will overreact a bit that they just keep going and going and going and they go just a little bit too far and then there's a little bit of correction after the fact to get back to where it should be. There's one other indicator. I wanted to speak on today and that is the buffet indicator and it is is a comparison of the stock market to gdp. Now why might you make this comparison. Well recently the stock market has been going up and up and up while the economy looks worse and worse and worse which is a little bit odd and probably eventually the two are going to have to come more into alignment as you might know. Warren buffett is a value investor. So he looks at companies with good fundamentals so he likes companies that make money now as opposed to companies that might make money in the future and so companies that aren't presently making money now but have large growth expectations and are expected to make a lot of money. In the future are more growth oriented companies as the names imply so the one weakness i would say with comparing current stock prices to current gdp. It doesn't factor in growth expectations as companies are expected to grow and produce more money that is already factored into the stock price whereas gdp doesn't consider that gdp is just a picture of the economy right now but getting back to my point the buffet indicator is at a peak right now and it hasn't this high since right before the big dot com crash. So that is a little bit of a troubling indicator. Even though i just gave a reason why it may not be terrible. It's not great. And so i think there are some people myself included. Who don't really know what's going to happen in the us stock market in the near future. Let me nobody does. But some people are concerned about a downward trend ultimately. I wouldn't act very differently despite knowing this i'm still investing in my 401k. As always but i am holding back on some of my non tax advantaged accounts beyond that though. I also have a need of cash in the near future. I am planning on buying a house in the near future which also would serve as an inflation hedge of sorts as home. Prices tend to increase with inflation. If you recall earlier in the episode we talked about what causes inflation. And that's an increase in the supply of money while goods and services stay at the same level and so homes are one of those things that would be included in the the goods and services bucket people need places to live and so it's possible homes will keep place with inflation now. Of course it's also possible that homes will go down in price like they did before and the great recession who's to say. Lastly also invest in something like gold and silver. Those also serve as inflation hedges. So i also personally own very small amount of precious metal. Etf so these are exchange traded funds that purchase gold and silver. And hold them. It's a little harder to manage your own private gold and silver. Both although i suppose you could always be like scrooge mcduck and have a big vault of gold coins in your house. There's an old rule of thumb that an ounce of gold should buy a high quality suit and apparently some people say this goes back to ancient rome. When an ounce of gold was enough to buy a top of the line toga take that with a grain of salt. Perhaps but actually. I think this rule of thumb is a bit true. You can use an ounce of gold to buy a top of the line suit the spot price of gold at time of recording. These one thousand eight hundred dollars about so actually. That's pretty nice suit. So maybe gold is worth a little bit more than it should be but neither case the ideas that gold maintains its value even in times of inflation. Now why gold. That is another story entirely but chemically gold is remarkably stable element. it doesn't react to many other elements. Perhaps i need to have someone involved in chemistry on the show to explain this a little bit more but gold just sits there and does it sing. it doesn't oxidise like iron or copper which pitino's and so for years centuries gold has been a go to for store of value. I hope you enjoyed this week's episode as always this isn't investment advice. I'm just giving general education so thanks for listening. Today's episode and thank you to my coworker ray for giving me the idea to do this episode. Thanks ray if you want any topics covered on the show. Please reach out to me. You can reach me on social media. All of my social media will be in the show notes. Or i don't know any way that you can get a hold of me. I'm happy to make your ideas into an episode on the show. Thanks for listening and as always stay. Frugal would you like to get now. Would you enjoy getting a weekly email from me with my five big takeaways for the week. I call it my five bullet thursday. Well you need to sign up for the frugal life newsletter. And actually there's five bullet points and no it's not weekly. I'm just poking fun at some farris anyways good at. Www dot the fruit life dot com and look for join the newsletter at the top otherwise link will be in the show notes.
Which Option Should I Buy?
"Welcome back to the stock market options trade podcast. My name is. And in this episode, I'm GonNa try and help answer the question or at least put some context around which option should I buy. Now I know at some point, you've been bullish on a stock and you say to yourself, maybe I should buy a call option. Then you open up the options chain and there are literally hundreds and maybe even thousands of call options to choose from, and it's hard to know which one is best and what to expect. There's different expirations there's different strikes and it can be. Pretty overwhelming if you're new if you don't have something to to reference against at least know what you're getting yourself into right. So as you probably know, there's a lot of variables to consider We're GONNA talk a little bit today about the days to expiration in the money out of the money that type of thing But for this episode were really gonNA narrowed down to the strike selection and we're GONNA end up leaving the days to expiration alone. We're GONNA look at buying options about thirty days out. And we'll have to if we want to compare different expirations left to do that in a different study we can only do so much time but today what I really want you to walk away with understanding of the trade off between buying in the money options versus out of the money options, we'll try to put a little context around what that means, and then obviously there are some options in between there right leg kind of at the money option. So the way we're GonNa do this is where you and I are going to walk through a five year study buying call options on Apple. Now, we're GONNA walk through the strategy here in just a minute. But before we get started, keep in mind the strategy we're GONNA talk about this is not financial advice. It's not a fully vetted strategy everything in this episode and on this podcast is for informational purposes. So definitely keep that in mind were talking through this. And let's let's talk a little bit about why I chose Apple obviously apple been very boyish. and. Actually for the past five years, apple is up two hundred, ninety, two percent in order to really compare these strike prices buying call options on a bullish stock. I wanted to make sure the stock was pretty boys. So I want to be real clear here there's a clear bias of choosing apple. For to compare call buying strategy, right so It's definitely hindsight saying, Hey, apple was bullish for the last five years. It's up almost three hundred percent. Let's see what would happen if we by call opt, and so we're going to use that as a we're gonNA use apple to to do this study and compare so we can really see the differences here. So we understand. So since we know that a call buying strategy. Is Likely profitable. It's GonNa give you an I the opportunity compare the different strikes so that you can walk away with some context. The next time you decide to buy a call option on a particular stock. So here's the strategy we're GONNA use for comparing the strikes over the past five years whenever apple cl- crosses or closes back above the twenty one day he may or the. Exponential moving average. We're going to buy a call option with about thirty days to expiration. Now, obviously, you can't nail thirty days every time it's going to be as close as we can get, but we're going to buy a call option with about thirty days expiration and we're GONNA simply closed the option or close the trade fourteen days later. So we're buying an option about with about Thirty days expiration and we're going to close it fourteen days. Later doesn't matter what the stock does. If it goes up, there's no profit target there's no stop loss. We're simply buying the call option closing two weeks later doesn't matter if there's earnings or not. Earnings or product announcements were very, very mechanical here with this experiment, the only variable that we're going to be changing is Which strike call options that we're going to be choosing from up and down the option chain, and the way we're going to do this is by looking at the option. Greek. Delta and I've talked about Delta before I. Think I mentioned it in the last episode episode eleven when I was talking about the bolander bands I think I went on a tangent there but let me just. Kind of talk through Delta again because I think this is probably one of the most valuable of the Greeks that you should really understand, but it's also I think misunderstood a little bit and there's a lot of things you can do with it. So the option Greek Delta can be used for a few things and the way we're GONNA use it here is to help us. Choose where in the option chain to choose those call options from so the Deltas we're GonNa look at our Delta Ninety seventy, fifty, thirty, and ten, and so what does that mean? What are the? Why are those Delta's different? What does that mean most of you probably know that the delta of an option is the amount the option will change in price if the stock were to. move up and down one dollar. So a positive Delta Ninety means if the stock moves up a dollar, you would make ninety dollars for that option and on the other side of the spectrum a Delta of ten, the option would only make ten dollars if the stock moved a dollar so and if we compare that to owning the stock, if you had a hundred shares of Apple. Do you have Delta one hundred and there was no other Greeks involved because if the stock moves up a dollar and you own one hundred shares, you are going to make one hundred dollars or one hundred dollars if the stock were to drop by a dollar and I, think that's one of the common sort of misconceptions is that. Even if you had a Delta thirty option call option and the stock moves up a dollar, you make thirty dollars you're still controlling one hundred shares, but you're, but you don't have the same Delta Exposure I. think that's very important distinction to make. Especially if you knew people think, Oh, I'm instead of buying the stock I'm going to buy an option and I'm going to save money because it's cheaper and that is true but there's still some nuances there that that we're going to try to sort out with wear up and down the option chain and Delta I think is. One of the best ways to kind of to kind of go out that. So a Delta ninety option is going to be closer to a stock replacement strategy because it's close to making, it's close to a Delta, one hundred which would mean you know owning one hundred shares. So it's the closest to actually a stock replacement type strategy. So as you move higher up in the delta part of the chain and the cheaper, the options get the less delta exposure and that's really the trade off we're going to try to show in this study. So if you ever Delta Ninety. And you're GonNa make ninety dollars if the stock goes up a dollar and the Delta ten option where you only make ten dollars if the stock goes up a dollar, why would anyone ever trade the Delta ten versus the Delta Ninety and the short answer is because the Delta Ninety ones are way more expensive and that's that's the crux of the dilemma sometimes when you're going to buy that option and you're like, okay I think. Apple is going to go up or have my entry trigger or whatever, and which option should I buy? Well, these are way cheaper meaning. You know I'm air quoting here I can risk less by buying a cheap two hundred dollar option or should I buy a more expensive option that that's maybe two thousand dollars right and sometimes it's not clear and there's a lot of stuff in between obviously sometimes, it's not clear. We'll which one's better. And why? Okay. So in general, the higher the Delta, the more cost because it's closer to a stock replacement strategy it you have more exposure you're gonNA make more money based on the amount you're putting out there right away because you have a higher delta. Okay. So back to the study were buying a call option when apple crosses above its twenty one ama and we're going to hold it for fourteen days in the reason why? I'm doing a time related stop and not like a target or something because there's a lot of other things that can happen with time decay and volatility that that just aren't quite comparable with a Delta Ninety versus a Delta fifty verses, a Delta Ten. So we're GONNA. We're GONNA sort of level the playing field and say, okay, let's see which one makes the most money over the past five years just holding it for two weeks. Okay. So let's talk through the results of the strategy comparing the different strike prices but real quick. We're GONNA talk through the curves and some of the results that come back to software and I've posted this over on my Patriot on page. If you're interested in becoming a podcast supporter and you want to see these results visually we're gonNA. Talk to everything here. But sometimes, it's easier to see these curves as opposed to me describing them. So if you're interested in that check that out put Lincoln description and you can check that out if you want. So let's go ahead and start with the the Delta Ninety call options. So again, Apple's closed above the twenty one Ma and in the past five years doing this video in mid August. Two Thousand and twenty. So we're looking about five years back to two thousand fifteen. And the past five years apple has closed above back above meaning it was trading below the twenty one ama at closes back above the twenty one, Ama. Trigger for our call buying strategy here about thirty times, there's thirty trades, the past five years. So the Delta Ninety call option. The. Past five years had a seventy six point seven win rate. There was twenty three wins and seven losses The total gain was about eighteen thousand dollars and don't risk on average was about two thousand dollars. So not a cheap option that means if you're buying a two thousand dollars call option that's about thirty days to expiration you gotTa have a little bit of money in your account to do that because I made eighteen thousand dollars that puts the percent return almost at nine hundred percent over that period and let's talk through the P. and L. Curve was of all the options. This was the steadiest of the curves. Where from the very beginning it was making money and it just kind of slowly built over time. There's a couple dips, but but in general had a nice smooth p. and L. Curve, and at the you know the last few months apple kind of really spiked in this this strategy had a nice kind of big spike at the end to really push those prophets up In the last you know, let's call it two months or so. So again, seventy, almost seventy seven percent win rate made about eighteen thousand dollars. So let's go. Let's let's ratcheted background good at the Delta Seventy call option which. Actually, had the same win rate. It was seventy seven percents. So that's good. But as you can imagine because the Delta, is less this strategy made glass money. So he did not make a over eighteen thousand dollars like the Delta Ninety Ubaid over sixteen thousand dollars but here's the benefit you made less money but those options were way cheaper. They were closer to about eleven hundred dollars. So it's not a cheap option, but it's still it's much cheaper. So that's the trade off. Right is cheaper options. You'RE GONNA make less, but in a winning strategy like this one for for this particular stock that we are biased. By bullish Over fourteen hundred percent gain. So the lesser the Delta had a percent return but ultimately made less money. Okay. So this is some of the trade offs. The PL curve was pretty similar. It was pretty smooth and steady, but it actually you know. The pattern here Dan I'm seeing with with the piano curves is that in the very beginning of this time period, there was a few losers and So this strategy really didn't start making money till about six months to a year into the the period which again, it's hard described I may want to check that out in the description, but let's go to the Delta fifty option and the pattern here continues. Where the cost of the options cheaper. In this case, it was close to seven hundred dollars. You made over thirteen thousand dollars and the percent return was greater to it was almost two thousand percent. The win rate starts to be less. So instead of twenty three wins and seven losses there was nineteen winners and eleven losses. So yet a sixty three percents win rate, which is still pretty good. But ultimately made less money because you're delta exposure was less right. The Delta thirty option was even cheaper. It was about three hundred and fifty dollars for each option. The win rate was less sixty percent yet eighteen wins and twelve losses but you're percent return was almost three thousand percent. But even though the Delta thirty option was cheaper and made more percent return, it may just under ten thousand dollars, which is a lot less than the the higher delta ones. Now, when you get to these out of the money options, the PL curve starts to be a little bit different. In this case, this strategy did not make money until well into two thousand sixteen. So it was about a year before the the winner started to make up for those losers and then even from thousand sixteen, let's say mid two, thousand, sixteen, through two, thousand, eighteen, the P. and L. Curve was relatively flat. So what you're seeing is Sort of spikes in and profit. It's not as smooth and the win rate becomes less ultimately what what that means from a psychological standpoint is that you you have to be okay with trading a consistent strategy that is more of A. Call it a homerun strategy yet, but the farther you go out of the money, it's more of a home run strategy me you have a lot of Mrs. we have a lot of yet more losers and it's it makes it mentally harder to continue to trade that strategy because your your confidence may not be there. But at the same time you're risking less because the capital outlay for an out of the money option is actually allow less right. So let's talk about the Delta ten option. These are the cheapest ones. These are really up foul far out of the money. The average option prices about one, hundred, twenty dollars. So it's relatively manageable, but the win rate was only forty three percents. So you actually have more losers than winners. Now you're winners are going to be a lot greater There's actually a huge spike in profit in the last couple months of the study but were barely profitable through two thousand eighteen and really didn't get into the the real profit zone. until you know first or second quarter of two, thousand eighteen. So what that means is for two years or Give or take almost two years buying that Delta ten option did not work. It only worked at the very end really when all the prophets. All I'M GONNA say like eighty percent of the Prophets of the Delta Tin options were made just in the last few months. So again, the farther you go out of the money. The more likely it's going to be a losing trade, the the win rate is less but if you do hit it, if you hit the the Bush move percentage wise, it's going to be the greatest return. In this case, the bind the Delta ten option returned over three thousand percent You made almost four thousand dollars using an average of one, hundred, twenty, two dollars, but but the, but you had the sit through those losers and wonder if you should just keep buying. So this is kind of the sliding scale I wanted to sort of show here is that When you go from a deeper in the money option, they are more expensive You have more exposure or more risk because you're laying out more capital but your win rate is higher in the P. and L. Curve tends to be a little bit more steady and I want you to think about that for a second. If you have a deep in the money option, the other variable that we we didn't really get into here is time to decay and when you have a deep in the money option, the time decay is a lot less where you have a an out of the money option. The entire value of that option is extrinsic and a big part of that is Is Time Decay. So if for two weeks or or whatever. If the stock does nothing the in the money option could actually break even or lose less. The out of the money option is going to lose more because the time decay is working faster against that option. The total value of that option I should say because the entire value the option is is an extrinsic value. So that's the sliding scale I wanted to kind of cover today with putting some context around what to expect when you're buying far out of the money options versus deepen the money options versus at the money options, and there's really no right answer here but you should just understand that the deeper in the money you go. The more likely you are going to win if your strategy is winning on a winning stock, of course, the farther out you go even on a stock that we know was bullish the Delta ten option still only had a forty three percent win rate. So the next time you open up the options chain, you're looking to buy an an option just keep that in mind when you're purchasing and understand that risk trade off. All right. So I hope. That help confusing anymore feel free to reach out to me over on Patriot muscle on twitter with my handle at option assassin I'm GONNA put some links into description if you WANNA get access to the post where you can see all the results and see the P. and L. Curves and maybe make this make a little bit more sense for you but anyway, hope you enjoyed it. Thanks for listening. Thanks for subscribing and we'll see if the next episode. Thanks for listening to the stock market options trading podcast to join our community of options traders head on over to Patriot dot com forward slash vertical spread options trading for details. But before you go new shed, no that everything discussed on this podcast, and in this episode is for informational purposes only and should not be considered financial advice of any kind.
How Much House Should I Buy?
"It's Thursday and this is the Ramsey. Call of the day part of the Ramsey networks. Joining me today Ramsey personality Anthony O'Neill. Ericsson San Antonio Eric. Thank you give me the big problem is you're sure what's up? I'm thirty eight years old. Eric Okay We are on baby kicks. Like a catches while we rent and we've actually think reading for for about seven years now in the area. And he wise because the only easier for a short period of time because relocating my job but it turns out everyone's vote now and made a series of steps series of moves that have been pretty lucrative, and I think probably going to be sticking around here for the next five or ten years So we've actually been looking for a home good and We're an option period right now I actually cash offer on a home and Really we're both girls or various about this. There have been homeowners for and one they're going to get your opinion. I'm just kinda wondering how much of our total net worth of lie in the home's value we have enough cash to actually buy a house outright but that's impression I. Don't know we're not a little bit of teams. Vying how much I'm not sure you how much you spend. Three hundred fifty thousand I love it goes. Stud. I Love I. Love How much do you make a year Eric Together we make three, hundred, thousand dollars. Yeah. Yeah. Laughing about. The House man and we're not laughing at you our fish, it's just standpoint. Listen you make three, hundred and fifty. You have three, hundred, fifty you're going to spend three, hundred fifty on a house that's going to go up in value and pay cash no mortgage. There is nothing here in this equation to even be remotely nervous about nothing. What is the worst case scenario yeah. Let's just pretend you forget to put fire insurance on it and it burns down. Okay and so you lose your Inter fifty thousand dollars this your worst case scenario. And that that would like put you in the stupid column because you didn't put fire insurance. All right. So but you're going to do that. But I mean I mean what can go wrong with this with this plan? It's just the idea of paying out of pocket for me. I mean for maintenance and it's all new. That's all. Okay. so much as your rent. Fourteen hundred a month. Okay. So there's fifteen thousand eighteen thousand dollars a year. For. Maintenance go. You don't have the payment anymore. Right right. But then I mean, it's just I. I only know friends and family of told us about home ownership does cost money and it does it is a pain in the butt to keep them maintained as part of the is part of the dirty little secret of homeownership. Yes. But. Year you don't have any payments I, think you can pull it off. Yeah and here's a good thing to you know like, Dave, said I mean I'm a homeowner young guy like yourself just purchase my home and your. My second we actually my second one. and here's here's what I recommend you going to build it. You'RE GONNA get that first year be very straight. But that first year warranty which makes are you building? Are you paying cash for an existing? Paying cash for an existing. Okay and I have they're tell me to get the to ensure make sure I get home warranty now. Yeah. This is a brand new build or is it already us? It's already used. Extended warranties you just self insure a good home inspection and make sure that your mechanical are up-to-date and operating in the got something that's on its last leg like a heating and air system say grand or something. But other than that. Dude just self insure through that stuff. You don't buy insurance on extended warranties on houses and no man you've done so good. Yes. This is top notch service is Tom Celebrate. Yeah. Yeah. Appreciate everything, right? Yeah. Impressive. Very is that helpful? Yes it it takes a lot I. appreciate that yeah you're doing great I mean if you told me about a million dollar house and you know you're paying cash out by the way, go back to your question what percentage of your net worth I would look at two things I would look net worth and I would look at your income If you're paying cash for it, it could be whatever percents you wanted to be typically what we find Eric is the more wealthy people become the smaller percentage their home is of their net worth. I will tell you that in our study of millionare's that the typical millionaire would have about a million and a half net worth as an example, and they'd have like five hundred k. in the house and about a million in their 401k we saw that with Hogan. Bunch. Right. But if you get to somebody that's got forty million. You don't usually see one third. Of their net worth tied up in house, it starts to scale down guess you know they might have a five million dollar house four, million dollar houses. So it might be ten percent rather than thirty percent of your net worth. So the higher your net worth the smaller percentage normally is in your home, right? If it's not, it says that that home is probably a little too important to you for maybe the wrong reasons right now, I've got a big Nice House, but it is a very small percentage of my net worth. Yes. This is not a small house, but it is a small percentage now have a big. Big, I am but. But if I had that house and it was a large because it's kind of a statement house. Too, big and so but if I had that house and it was like ninety percent of my net worth that says Dave's more worried about what other people think. Yeah. That's what I would say. Yes. Look at it. That way you're hearing a great shape here doing break shape. So proud of you. Thanks for tuning into the Ramsey call of the day. Check out all of our podcast just search Ramsey network on apple podcast spotify or wherever you.
1145: Where Do I Invest After Maxing Out Retirement Accounts? by Chris Reining on Investment Strategies to Retire Early
"The quick we recommend listening to this show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account. Spotify has a huge catalog of podcasts. On every imaginable topic. Plus you can follow your favorite podcasts. So you never miss an episode. Premium users can download episodes to listen to off lime wherever and whenever and easily share what. You're listening to with your friends on instagram. So if you haven't done so already be sure to download the spotify APP search for optimal finance daily on spotify or browse podcasts. In the your library tab also make sure to follow me so you never miss an episode of optimal finance daily. This is optimal finance daily episode. Eleven forty five. Where do I invest after maxing out retirement accounts by Chris rining of Chris Rining Dot Com? And I'm Dan. I am here every single day reading to you from some of the best personal finance blogs on the Web and today's post comes from our friend. Chris rining I will keep this intro nice and short for you however so let's get right to the post as we start optimizing your life. Where do I invest after? Maxing out retirement accounts by Chris rining of Chris. Running DOT com. Today's question comes from J. He asks quote thanks for the Informative content generated. It's some of the soundest most easily digestible out there. And it's definitely had an impact on my life. I've been reading up on retirement for a couple of years now. Roughly when I went into the workforce after college I'm in my late twenty s and currently I make just shy of the one hundred eighteen thousand dollars per year. Ira income contribution CAP. I just recently started to fully fund my 401k for a single person per year. I contribute eighteen K per year in a target date fund currently valued at Thirty K. And I also fully fund my Roth. Ira I contribute five thousand five hundred dollars. Per Year into index funds one total market stock one total market bond ratio of seventy percent to thirty percent valued at Twenty K. It's taken some time to get to this point but I feel happy and Lucky I've been able to have enough to fund my accounts and have enough money to cover all my monthly expenses. It's something I definitely don't take for granted so now I've checked most boxes. You find online about investing. My question is now what what should I invest in if I have some more expendable income and I want to accelerate my retirement should I open another taxable independent retirement account a house. Luethi's also what do I do with my Roth? Ira wants. I can't legally contribute to it. Because I've passed the income requirement which I'm expecting will happen later in this New Year. Do I just stop contributing to it and hope it will grow with time. Should I look into converting it back to a traditional IRA which I understand doesn't have income limits to contribute and would that be attacked? Savvy thing to do since I've already paid taxes in my Roth. There doesn't seem to be a lot of advice out there for once you fulfill the main two requirements every investment avenue says. You should be doing so. I'm looking forward to hearing your take on it since I'm sure you came. Across this scenario in funding your nest egg passed the one million dollar mark in your thirties and quote. Most people who want to get rich fast. Think they need to do more but getting rich fast isn't about doing more? It's about risk. That's what investing is you get rewarded for exposure to risk. So I tell the people asking how to get rich fast to spend each day improving themselves becoming a tiny bit better than they were yesterday because when you learn something or apply knowledge and do that every single day throughout life. Most people get what they deserve. Getting rich fast takes time. The truth is nobody wants to hear that everyone wants a shortcut and so they lose all their money chasing fast money. Anyway you're not one of these people and so generally speaking. You should invest like this one enough to get any employer match in pretax retirement account to fund post tax retirement account to maximum three back to number one to maximum for fund. Taxable Account Five non-deductible post-tax account. This won't work for everyone because everyone situations and goals are different. That said you're approaches solid maxing out pre and post tax retirement accounts taking advantage of current and future tax benefits. It's likely your next step is a taxable account and once you're modified adjusted gross income exceeds the contribution limit for a roth. I don't think it makes sense to convert the existing Roth to a traditional. Ira If you don't have other non Roth IRA accounts what makes sense is the backdoor. Roth you may go regular contribution to a traditional IRA and as soon as it posts convert the money from traditional to Roth. You'll pay tax on the difference between the original contribution and the converted value which in most cases will be zero. This is how to get around the income limit. Doing this on your own. Might seem complicated. But it's only complicated once. Remember become a tiny bit better than you were yesterday since you asked maybe it would help to share what I've done. I have two accounts. 401k and taxable because simpler solutions are often better solutions. When I worked in corporate America I contributed enough to the retirement account to get the company match. Maybe a little more but never maxed it out. The lion's share of the money went to a taxable account. So when I quit had twenty five percent in retirement and seventy five percent in taxable. I'm withdrawing from taxable account and because I live a lightweight life with hardly any possessions or big expenses. I don't pay federal capital gains tax. Meanwhile the retirement account is sitting there compounding for the next twenty five years or so I could convert it to a roth little by little to save on taxes decades from now but that complicates things anyways. What I'm trying to show you is. There's no cookie cutter approach to investing. It depends on your situation and goals. And some people like the idea of diversifying into other investments like real estate but they won't enjoy the actual work collecting rent finding tenants fixing toilets. Things like that property interests you then try it but I think your main focus should be the market. Why you fix sensible investments and so I can tell you have an interest and that's the very first in being a successful investor. Having an interest you just listened to the post titled. Where do I invest after maxing out retirement accounts spy Chris rining of Chris Rining Dot Com? And I'll have some comments about that post in just a moment but first a big. Thank you to better help. According to the data from northwestern mutual two thousand eighteen planning and progress study. Money is the number one cause of stress among Americans according to forty four percent of survey respondents. We probably have been there or are facing on a daily basis and when that happens better help we'll be able to help you manage your problems. They're professional counseling. Services are available for clients worldwide. They have licensed professional counselors specializing in stress. Anxiety anger and more eager to help you know. More sitting uncomfortably in a waiting room. And you gain the flexibility of messaging. Your counselor anytime better. Help is not self help or a crisis line. This is professional counseling. I want you to start living a happier life today as a listener. You'll get ten percent off your first month by visiting better. Help DOT COM SLASH O. F. D. Join over eight hundred thousand people taking charge of their mental health again. That's better help. H. E. L. P. dot com slash Lefty and thanks again to Chris for such an informative post today about the IRA Roth IRA's Chris's given lots of advice covering finance related questions on his website like making risky investments paying your mortgage early versus investing early and much more and if you have any finance related question that is not covered yet. You can send it to Chris at Chris. Rining DOT com slash contact. He loved to hear from you and that will do it for another edition of Optimal Finance daily. I will be back with you tomorrow so I will see their in the Wednesday. Show where your optimal life awaits.
Best Method To Trade Penny Stocks 2019 | Different Way To Make Money With Stocks
"Hey Guys Mubarak C._P._A.. Founder of in Penny Stock Today I wanNA talk to you guys about the various types of methods you can implement to make money with stocks six okay my traders. We don't just make money from one methodology. We have various techniques that we implement in order to be able to make money when it's going up up when the market has gone down the marketing going sideways regardless or not moving at all we're still able to profit and so I want to cover those methods in this video in case of primarily I would say there's probably five different methods to make money with stock trading guy. The first one is the most conventional way you make money with that with products to you. Buy Low sell high very fundamental part of stock trading that every beginner usually is able to grasp pretty quickly. Okay you want to buy the stock at one dollar. Sell it for two dollars. Make a dollar profit you do this on an escalated scale of thousands of shares. You could make a lot of money that way people may become millionaires and billionaires through through that method. If you just do that method you can still make money <hes> but I've found that while I was spending my time stock trading you can't control the market you I can understand certain factors of the market which we teach here at in Penny stock in order to understand if the stock is GONNA go up if it's GONNA go down if it's GonNa say the same but in order to profit off of all three ways <hes> there's different strategies. You need to implement so I won by low sell high. That's that's the fundamentals of a pump and dump. You know that it's going to shoot out so you're GONNA start trading. You'RE GONNA buy an early. Wait for it to shoot up high. Sell it lock in your profits. The second method has to has an A. and a B.. Okay the A I would say has to do with a buying and holding when you buy and hold that's Warren Buffett teaches hedge fund teaches us with Wall Street wants you to do okay. They want you to buy keep it in your 4. Keep it in your portfolio and hold it for twenty thirty years or something like that or forty fifty depending on your age very stable method of investing <hes> the S. and P. Five hundred which is index that tracks the top top five hundred stocks trading on the market has gone up in insane amount <hes> on an average annual return over the last twenty thirty forty years so if you did do a buy and hold If you know about inflation naturally the value of the stocks will increase as inflation is increasing year-over-year so instead of keeping your money in in cash in the bank. If you invested into the stock market generally the stock market will rise and so will your investments so that's the second strategy buying old. There's a small twist to it that I liked to do which is buying hold dividend stocks. Okay dividend stock is actually a stock that will pay you do a monthly quarterly or annual premium for you just holding stop right so this is where it gets interesting because it almost we'll start to feel like real estate all of a sudden right. You're holding a property. You're renting after people and they're paying you monthly. That's a great cashflow. Most millionaires and billionaires cleaners become that way because of investing real estate dividend stocks allows you to have that same sort of feature with much less risk. Okay you don't have to go and find the tenant no property management. You don't have to put in you know hundreds of thousands of dollars as a down payment instead. You can buy dividend stock for five ten dollars. I think Ford Right now. I'm actually look it up. <hes> Ford is actually trading at I believed close to ten dollars and they actually give you a five percent dividend yield which means that if you just just by it and you hold onto it <hes> you're going to be making five percent on your money without doing anything and I think that's a great concept. I think that really allows you to be able to profit. Yes afford right now is trading at ten dollars and it gives a dividend estimated of about five point seven five percent so just without doing anything just for holding the share of stock. Ford every quarter is going to give you a certain amount of money just to being loyal faithful fool whatever to <hes> investing in their cause because on the back end they're able to utilize that capital for their financing of their investments in whatever <hes> and then there's two more methods right so we went over three so far we went over buy low sell high as the natural method of trading. There's two within buying hold rather just long-term combined hold the reason that's good too because again the lion the C._p._a.. Don't consider this tax advice. If you want tax advice the separately <hes> because because every state has different laws than I'm not trying to get in trouble with the law or anything but generally speaking if you hold a stock for more than a year you'll actually any profit off of. It you'll be getting taxed at capital gains which currently is about fifteen or twenty percent whereas if you're doing regular day trading and you make a profit prophet you'll have to pay your normal income tax rate on that so just in general blindfold allows you to save money on taxes <hes> in the most broad sense of the term arm again. Every scenario is unique is not tax advice <hes> and so on but the other two methods that I would say is shorting guy now. This is is a really interesting way to make money because when you short what's happening is you're not buying low and selling high. You're doing the exact opposite alright so what you're actually doing. Is Your first selling it and then you by now. That sounds confusing right. How do you sell something you don't even have so brokers have come up with a strategy where they'll allow you to borrow their shares right e-trade. Imagining traders broker has a million shares of apple hypothetically typically. What they'll allow you to do is if you WANNA make money shorting right if you feel that the stock price is going to go down? Would you can actually do is you can borrow the the apple stock from the broker. Okay so now I have apple stock and I o one sheriff's apple stock to my broker. What's happening now is. I'm hoping that the stock doc price will go down because what happens is if the stock price goes down. I can buy it at that lower amount and then give it back to the broker and make money on the difference so let me give example. I Buy Apple. I short apple at one thousand dollars right took share from the broker. It's value two thousand dollars. Cars is sold it to someone in the market shorted thousand one share for thousand dollars. Apple Dips God forbid something happens market tanks apples now now worth only five hundred dollars so I buy it from the stock market naturally at five hundred dollars but remember I still had this debt to the broker of I owe him share so I just gave him the share that I just bought for five hundred dollars and I had to keep the five hundred dollar profit that I just made right so that a thousand five hundred gave a back so watch ashes again if you need to understand it. It's obviously in this a million times and it's always confusing to people the first time they hear it but once you do it it makes sense and it's a it's a way that people can make money on the way down so there's buy low sell high. which is when you make money as a stock increases? There's Bilo so. I mean by old which is when you can make money as it goes sideways and then they're shorted which is when you can actually make money when the stock goes down so that's how my students are profiting in. Any fashion doesn't matter which reduction the stock market is. GonNa move worse. GonNa make our money. We're GONNA make our prophets. <hes> the last tactic that I WANNA go over. It is an interesting topic that is called scalping and <hes> <hes>. I don't know if most people would classify this as a specific strategy to make money but scalping is the concept of you know you know on a daily basis these big blue chips dot companies are going to vary one or two percent throughout the day day right and there's certain people out there especially quant traders or like these big firms. They'll literally trade in such high volumes right. They'll put in fifty thousand dollars one hundred thousand dollars but you can do this with lower capital. You can do this with a thousand two thousand dollars but they'll literally buy it and then hope that it's going up because in the if you're looking if you ever look at a stock price and you watch it during the market then you'll see that is constantly going up in up in up and down and that's the the pull <music> push of the buy and sell orders that are going out and they'll trade within a small range before they do like a high breakout or a large drop so scalpers are trying to make they're little profit off of the middle scalping literally take you know they're trying to make one percent on a trade or two percent honor trade and their goal is to do multiple trades a day and and that way you know that small amount you know if you have ten thousand or twenty thousand dollars invested even if you make two or three percent onto three trades in a day that's about two hundred dollars profit per trade six hundred dollars a day eighteen thousand dollars a month still amazing income so still possible way to make money but not something necessarily that I go into too much detail about and <hes> yeah I mean I think that is the overall picture I wanted to go into detail bill about all the different ways to make money with stocks and so I hope that makes sense please. I recommend we watching this video. Threw a lot at you guys but if you break it down and makes a lot a lot of sense and I want you to be able to take advantage of trading the stock market regardless of whether we're in a bull market whether when a bear market whether the economy's crashing <hes> you know it's still possible to make money if you know what you're doing so hope you guys enjoyed this video in the next.
79 Sitting is Timeless with Kyle Hoff and Alex O'Dell, co-founders of Floyd
"You're listening to wellmade a podcast leumi but the people in ideas behind your favorite online brands i'm your host stephanie mango kyle hof alex odell welcome to the show thank you awesome awesome the beer beer so why don't we start with kyle just so we can get our listeners to hear your voice is highly you're the ceo and co founder of floyd how did you meet alex in year cofounder in in can you tell us a little bit about about that story in may be introduced alex to us yeah i would love to introduce alex we also have we have similar voices so you know will will try to make it as clear as possible so okay but yeah so so alex then i met and i wish i had a picture of this we met we met about six well a little under six years ago an age old auto garage in north korea town in detroit we both just move move to city maybe you know two or three weeks before that it was right after detroit the city had filed bankruptcy 'em but we had some friends in common who were who were starting a business that that was essentially like eight incubator for businesses that were brick and mortar store fronts in the city and it brought together you know people people who wanna make business plans where people who who want to work on businesses in contribute ideas to does business plans alex and i kinda jumped on board to help help the cofounders launched the business and now is kind of where we met building out that space they kind of helping them kinda lay the groundwork and alex you know who i'm going to introduce now was a traveling before that had also just moved moved to detroit and a and we reconnected around this idea of furniture in sort of simultaneously simultaneously really really dug in dug into the you know the space in general in in in maybe six months later a you know launch the first first product in alex would you mind introducing us to kyle and in what what attracted you to him when you first met i think it was around like that that summer in detroit on that was my first time living there you know cow and i had both actually went to school pretty close to their in ann arbor university of michigan on but hadn't cross pass while we were there in something you know there's as that kind of project that cows describing this wrapping up we're both thinking about what we wanted to do on her own and what projects we want to dive into after that kyle had been moving around the last two years and had been designing different furniture products on he had studied architecture background and had designed 'em one of one of the product city had come up with was on this table legs system that you could take any service material and make a table from these table eggs and it really came out of college experience of living in chicago driving out to a big box store of ikea and buying furniture and then throwing it away 'em in so that aspect of just buying consuming in throwing away furniture you know it's something that he recognize that didn't seem like a great way of of living with furniture and so he designed a better a better product around it i'm and so when we were kind of both getting to the end of the summer like seeing you know what could we kind of do with this idea this there is kind of one set a set of legs and we started talking about you know what kind of furniture company we want to build and how he would do it and we thought that this product could be a great way the launch and just see if people actually want it so we are in january of twenty thirteen twenty fourteen we launched a kickstarter and sorted goal was we're gonna raise on eighteen thousand dollars for these legs that we had called the floyd like an idea was that if we could produce a hundred of these 'em that we would be off to the races and so we we put it up on kickstarter and we ended up raising a quarter of a million dollars and had fourteen hundred people order on so that really wasn't moment for us where we said while there's there's a market for this people actually care about this product they care about this story in the design and that wasn't you know extremely exciting moment for us and when we realized that this is gonna be are lies now and we're gonna be kinda going after this so yeah that that's kind of the quick quick background in when you started so this this floyd leg that people will put some photos in the show notes but it's made out of steel is that right or what is it made out of yeah i mean it's essentially a sheet still a very simple fabrication method of bending in in welding and ultimately is kind of a clamp in it clams to flat surface and a yeah i i think the interesting thing was about it was a very like simple you know product you know it's table eggs after all but i think you know what what kind of exciting about launching the business through a kickstarter is gave us an opportunity to really tell the story you know talk about what we were trying to build and solve in in i think we did that through video and i think that was kind of the first you know first bits of the dna of what the brand ended up being in a really valuable learning experience must there's like kickstarter of course you know taught us how to scale of supply chain really quick communicate with customers but also i think for two founders trying to deliver an idea to people and help this really distill down what mattered in in in try to communicate that very effective way yeah it was it was pretty man this list just like when you're expecting to sell a hundred sat's and you sell over ten times that 'em and luckily we had some great manufacturing partnerships like lined the head of time and so we were able to hit that scale on but one one kind of aspect of it is that we put up that we could ship anywhere in the world and we had a flat rate of twenty dollars an ounce and ultimately there's going so well i've done i've been exactly in that same boat before cause a cause me and my co founder of her previous company did a kickstarter and had the exact same problem so yeah yeah we were we were like the first priority when we're launching it wasn't like how are you gonna scale international growth wasn't the number one thing on our minds but we also had thirty thirty percent of those kickstarter backers where i'm outside the u s and so you know we were shipping lanes to tokyo joe should be them to hong kong there is one order and russia that particular sticks in the mind that we had a border and customs costumes quite a bit but we got into the customer but that was amazing to see that it was this idea that could resonate with people across across different countries that they could just yet get the concept and release the problem on so that was that was pretty pretty sweet yeah i n n kickstarted has since a gun onto to fix some of that where you could now if you're international pay extra free shipping but that was a problem around that time that happened to a lot of of of companies including a are cells meet me and jesse a micro founder had launched a product on there and similarly had raised around a quarter dollars similarly had probably i think almost fifty percent we had something like a hundred countries that we ship to and he gave me a really huge appreciation for the mail system just how like the fact that you can put especially with are product is much smaller so we could put it in like a first class international parcel and ship it out anywhere and it's just like a miracle timmy you could put something in a box and then it arrives to you know somewhere in the middle of nowhere in a different country and i'm guessing your product didn't quite make that cut in terms of like the weight limitation so that must have added extra cost we send it all you sps and it was like i remember going through the software to check all these addresses play the game with alex right like do a street view of an address and make a guess what country i was in switzerland is surprisingly heart point but yeah it was a it was it was it was very much a prayer you send it in the you're just like through the parcel system and it's it made it you know like the fact that like the product we get to people was was was pretty mind blowing so neither of you are detroit native is where you originally from yeah i'm from a firm youngstown ohio originally very kind of similar landscape detroit a steel city once you know like everybody worked in the in the steel industry directing fourteen mills in the city everybody in my family worked in the steel industry my parents met a steel mill so i think moving to destroy parents met in this deal now that's like yeah no they did but they you know like moving to the trade it is very similar kind of you know at the time you know shrinking city in a lot of ways and 'em but i think it's been you know i think coming to detroit it's been just very exciting to see you know somebody evolution of the city that has been amazing history but you know has kind of you know found some different different angles and things in the just a you know for five years it's something sort of bring up where where the name floyd comes from 'em we were we were trying to figure out in a world where we're gonna call the legs an something that came up was that kyle's 'em grandfather and great grandfather and father all named floyd 'em and they you know they having that that kind of background in the steel industry had a cool story to it as the table i was made it made out of steel i'm and also the the league itself selfish shaped like an ass 'em so we called the the floyd like we were tossed around some other ideas one we almost went with his bracket which would have been terrible so glad we didn't go at that but i think ultimately you know having that kind of story behind it and also just like the the kind of playfulness of the name is something we really liked on furniture in austin tried to be serious and you know not kind of deal with the humor to it and so we liked you know how that name was a little bit more playful so i mean i think people think of detroit as a as a car city in in in the steel industry in in in stuff over there but it's also a huge epicenter for furniture herman miller steelcase there's a lot going on that is in the furniture world based out of detroit i happen to know a lot about this because my cofounder at that i mentioned before jesse is from detroit i've visited a bunch and i also went to school for like furniture designing that kind of stuff so i was always fascinated with detroit as kind of an epicenter for that there's also the cranbrook academy where like the enes taught end eras cernan in like a lot of smart people have thought about furniture in detroit and i i just don't think the the the rest of the world necessarily knows that has that been useful for you in terms of finding manufacturers or finding people hire anything like that yeah i mean it definitely has been i mean i think all you know all those things you mentioned have been you know big reason why we're here but i if you go back to the beginning of the company i think you know looking at ames in the sense that you know like they practiced at cranbrook and and i think we draw you know a ton of inspiration from their products and in the way they you know innovated on manufacturing facturing methods and and really look forward and be on kind of what had been done at the time to develop new ways of producing things new ways of connecting things and i think there's a lot of tenants that tenant breathe through and are products that they're that they're serviceable if apart breaks you could you could replace it and not throw the whole thing out and so i think yeah we we draw inspiration from him so we we recently took her whole our whole team up to cranbrook in in one in the vault and got to see some of their very first like prototype products which which is you know extremely inspiring well cranbrook is is like a magical place cranbrook it it is like it's like the harry potter school of furniture it feels very special over there yeah the architecture and the actual campus you have a you know as you mentioned the aero cernan has done done some buildings there and it's just incredible place for architecture and just to be inspired and they recently brought in more contemporary architects is well it's kind of juxtaposed there but it's also you know really cool to go see like that that right there is the studio where you know charles and rate aims matt and where you know they really came together henry imagined like modern design and the u s and that's like that was the epicenter that's where it started yeah i mean everything that we think of today as like mid century modern really you know some its roots come out of there and so i think like the type of stuff but they were inventing around that time was kind of a result of processes that had been developed in world war two for or things like airplanes were being made out of plywood and plywood became this material that was you know for mobile that you could use for furniture design an end so there's a lot of innovation there whatever those components in terms of you mentioned steel but now obviously you've expanded the product line into 'em furniture into sofas into a full blown tables like what rv inspirations in terms of aesthetic where material cues that you feel like really resonate with the floyd brand will will do just a just a quick point on on what you were saying what the teams i think that's really cool that they took from inspiration from outside of a furniture like though the formed like molded plastic chair chair that so prevalent whether you see it in a photo and write a glass house in la or if you see it in a school 'em you know that was inspired by the technology developed a shock comments 'em in world war two so they were just really creative about about making those connections for us like you know the fact that like these designers like aims and what they did at herman miller and and the other michigan furniture companies was really inspiring the us like of how they had built these companies and we felt that for the most most part most people don't actually know about you know herman miller they don't know about the story of of the teams and so for us like we just felt that furniture is a whole when you look at maybe the options of how most people are shopping whether they're going to see a or crate and barrel 'em we just felt that furniture overall was uninspiring to like what the kind of more mainstream solutions where and so that was kind of the foundation of the type of furniture company we want it to build was one that felt like it was inspired furniture richer and felt like it could also be accessible and offer it through a great service when you say uninspiring i i would love for you to get a little more specific on that what is it that you mean by that i think it's the aspect where like what what are the values and things that the that the design stands for one went into the to the thought process there you know some things kind of white labeled you know it's just kind of a brand put on it it's not really thought about how that product is actually produced a weather that standardly whether that's the safety of the materials and it's just ultimately this kind of commodity item that's meant to fill a space in your home and kind of check off a box of things that you need on that feels like fairly uninspired whereas design that stands for values that stands for an idea or approached a living ominous thoughtful about the process i think that's how we see like more inspired design when you think about companies like ikea who we nike in particular has really revolutionized should knives a lot of the way furniture works in the world over the past you know however many decades but they've been around you know the concept of flat pack they obviously cut some corners on you know the way that they deal with the materials just because they're trying to achieve a certain price point but like what do you see as the pros and cons of what ikea has done as it has grown yeah i mean i think we we look at ton to idea in in really i think are personally inspired by the business model you they've bills you know they are thoughtful about design about how it fits in a shipping container how it gets you're door how how user assembles it you know every touch point of view experience of purchasing it from from the meat balls to the picking their product out in the warehouse it's it's very very thoughtful and i think that's what's allowed him to be sort of an anomaly not only in furniture but in in retail in general i mean i think they are one of the most unique companies out there but like the end of the day you know one of the things that we you know really started this company spurred what were you know so passionate about is that you know there's a model there that's built on people consuming products year over year every year would be you little personal attachment to them that you know you're buying something and i'd done this you know i've bought multiple mom beds and toss them and that has created a very much a culture of of consumption around furniture that really didn't exist before you know while maybe a different price point i think were really trying to create products that people can keep that they have like you know very thoughtful design quality materials that you can yeah i guess get excited about a new home in in keep it to overtime and how do you respond to the the notion of like you know tastes tastes change over periods of time and i've seen a couple of businesses emerge over the past couple of years that are thinking about the a model more like what if you could rent to you're furniture and then once you're so that you could have maybe something that is like a higher quality but it's it's slightly it's sort of gives you the benefits of consumption like you get to change it out or not own it but at the same time you know having a higher quality product is that something that you think makes sense how you react to the the concept that maybe the furniture that you're parents had is not the same furniture that you wanna have or maybe it is yeah i mean right now like you know alex and i are sitting in a in a in shell share and it's been around forever you know sixty sixty some that's a that's a bad example i think i mean it it it it's counter to the kind of the the the other folks are thinking 'cause i kind of agree with yeah yeah i mean i think the reason is is because like herman miller stands behind that design and they didn't launch that designed and then six months later at the next furniture market launched a new product they saw that product year every year every year because they believed in it because they want the service it and and you know they're still selling it today and i think you know were keeping a very simple aesthetic and even she has been selling mom beds in the wrong chair for decades now and the billy bookshelf i think turned fifty you know this week actually yeah wow i guess you know process like if we if we can you know it's not about fashionable furniture son about what a lot of industry does is is you know launch new styles new product seasonally at market and push those ideas on people you know for us it's about creating a very thoughtful welldesigned product that we wanna stand behind forever for years for decades that could be a you know a staple in their home that isn't you know super loud but can really fit in any space some and you know is is quality enough to keep and i think ultimately like you're space is about is about you in the things you put it in it the reflects your personality in it doesn't mean that just 'cause you're taste changes a little bit doesn't mean that the bookshelf created by floyd is gonna be obsolete there's a there's in advertisements from herman miller in the nineteen sixties that has a set of chairs and one of them is that seems mold the chair and it says in a hundred years from now one of these chairs will still be famous and just like the fact they were putting that out in the nineteen sixties and making a declaration the radiation of that was extremely bold but his cows said that was very intentional because they were thinking about but they were committed to this design and they were committed to that that long term but bullshit over that shit over that is well if you wanna throw it up on the pay i would love to i mean i think it's it's a phrase that has been repeated on this podcast several times i mean it's you know it's the title of the podcast as well made it sort of about this kind of stuff but but eames eames design philosophy of making the best for the most for the least is is just i think such a great way to think about building products that are you know great quality democratic in hopefully are gonna last a long time both in their aesthetic and design but also just like the actual materials that is that it's made out of and and i see that in in what you're doing one thing that you know as a parent is in terms of the way that you're designing things you've been around now for a about five years or like that's when you launch her first kickstarter you're you're releasing products in a very thoughtful in in maybe slow manner not in a negative way but just sort of in a in a cautious manner i would love for you to describe a little bit about kind of the evolution of you're product line 'cause we start with the legs we talked about and then you went into a a very simple bed frame and if i'm remembering the order right and then i intimate you're most recent product which i think is like the the sofa yeah i mean i think if you look at are time line of products it it is very much about being methodical and 'em you know we start up as she still and really you know worked understand the manufacturing process these there worked with partners who you know we relied on heavily a help are understanding in anything subsequent products then brought new materials that we really dug into deep so when we launched the the bed frame it was about but it's not really understanding birch and really understanding working what would in which you know brought up out of whole field of different constraints i mean it's a natural material it's it's not you know equally made everywhere and it's grown everywhere some something that is renewables which we you know we really liked but but we had to learn kind of all the new prophecies and work with different manufacturers there and then finally you know like we took you know what we learn what the bed frame birch and steal from the legs of the table and the the first table leg and and and really focused in on the on the sofa i'm in without product as you know getting into a you know we were using to things we knew really well but like getting into you know upholstery in in cushions was a whole new ballgame in in you know we got lucky to be able to lean on a partner who had been producing sofas u s for like a hundred years and a in in that really helped you know really think through all the you know you know we tested you know hundreds and hundreds of cushions but their expertise and knowledge making the cushions and in in helping us developed cushions wisdom but something that you know we wouldn't have been able to do being a five year old company and you know as we look forward or you know still wants to said the tackle furniture in a in a very methodical thoughtful way we have a bookshelf that's launching in in in june in and really excited about that design it's it's it's really taking into consideration what are customers want wanna ask about a lot of much hilarity about being a buy one unit in that onto in the future and i think for us yeah it's it's being thoughtful about the product taking their time with them in not the kind of back to the point made earlier it's not about you know being kind of seasonal launches a new things but it really standing behind that product giving people the confidence that floyd conserve said if like a weld pops there's something will replace that one part and not you wanna throughout the whole thing so i think there's a lot of lot on the horizon for us in in no rush really it's a it's a launch everything at once in just the ad are we have are like an inhouse design team of about five people at are at r h q two here in detroit i'm that ranges from product engineers to designers 'em and so that's kind of are like are in house process and designing one product and take anywhere from you know over a year to you know a few months depending on especially like if we were thinking about a product variant you know sometimes move quicker 'em but those kind of longer products do take much longer in terms of are the rest of our team you know we have a sex teams in the house and so they're constantly reaching out for feedback from a customer base so in terms of the sofa like before we even really delve into that design process we had a survey out and that fourteen hundred of our customers responded to i'm and said what are you looking foreign self i do care more about the celtics do care more about comfort how do you like to sit in your sofa does your pet friendly or stain resistance does that matter to you and so before we even got into that design process we had a really good sense of what people were ashes looking for and then you have to kind of calibrate west okay i know what people are looking for but i also kind of have to put forward a design vision and an idea that fits with floyd 'em so you kind of have to whittle it down and find a good medium between what you gonna dress customers ways is aligned with division i wanna come back to this like layering of the competencies that you have built up over time because when people look at the the photos of 'em you're you're different products i they'll see what you're talking about where you know first getting you know building up you're knowledge and in relationships in the manufacturing world around steel and then adding new materials and processes over time but they all build up on each other when i'm you know i'm looking at the bed frame right now and it's very obvious just see you know how the support of the legs are in evolution of what you did on the table legs end 'em i'm just curious like when do you feel like you kind of have gotten to a mastery level or is it about challenging yourself each time with the new product to try something that you haven't tried before like how do you balance those two things i mean i think there is excitement of getting in you know working with the new material working with new partners and i think you know as we scale we've been fortunate to have doors open toasted to new manufacturers were working with a great new manufacturing in grand rapids that's you know big supplier to you're herman miller still cases and and i think they're you know technologies help us think about new ways of doing things i think if you went back to the very first table leg you know it took me literally i emailed in called probably twentyfive thirty manufacturers before i even have somebody like listen to me about like what i want it to be to build and and i think i learned a lot about like how do you communicate to somebody you know a manufacturer who's usually dealing with larger companies and all these other things i think for us you know are a whole team it's 'em i think there's there is like a you know a learning experience experienced that everybody's excited about when we when we go into sort of a new kind of material and even beyond the product team i think from marketing firfer you know supply chain or you know are customer experience team and even tech team like i think there's a lot that everybody needs to learn and i think we liked approach it in a hole in a whole new way i'm like i think if you look at the sofa that you know we didn't start with a very like traditional sofa model where it's like kind of a box frame it's some you put some peg lays on the bottom and then throw you know kind of christians and it looks essentially like every other sofa we step back and like got to be essence of what we thought a sofa was really who leans heavily on on you know our customers understand what they want like alex and said earlier and i think that brought about a whole different product and then we you know how does this work within flirts supply chain how do we learn from are partners and i think every product there is a whole a whole new learning experience and i think that's you know that keeps i think our whole team excited in and i think there's a lot you know a lot of new materials that were excited to be working within the next and the next year so i think it's a really really smart approach and you know people talk about the concept of an mvp like a minimum viable product and there's there's a classic image that i think of when i think of that which is china explain like if you're going to learn how to build a car the right thing is to start by maybe building bicycle or a motorcycle like it's that it's that evolution of start with eighty slightly less complex version of that instead of trying to build that a thing all at once or instead of trying to build a you know first the wheels than the body than the whatever in a way though you're approach has been kind of like a mix of those two ideas because like you sold your first product was just a component it was not even finished thing like if you had to buy something else in order to like completely experience of what it is that you're product does the the leg so i i mean i think it's really smart but did you think of it that way a did you have the insight that you want it to keep adding to it from the beginning flexing sixty aspect of like i think you point out a good point that we kind of started with an mvp to the extreme i'm in terms of if you were beginning eight furniture company you know we did wanna build a different type of furniture company by the launch a sold out the gate how how would you possibly do that when you have a few thousand dollars and you have no idea what you're market is or even how you're gonna necessarily approach it with a model on so like you know today i mean at that point when we were just getting started there wasn't really a vc option there were really easy be on that kind of funding that you see today of dc brands so there wasn't like an option to take on investment and try to build the most optimal product line i'm so i think you know there is that thoughtful piece of how we approach it but there's also that constrained piece that you kind of start with what's gonna be what can you get the market quickly and like what's gonna take the with the kind of resources you have i'm and i think over time we've continued to just get better and better you know at at the at the products we tackle and the process these get there's complexity layered in as well on but it's really exciting to see that those early products like the bad framer things that were still fully committed to instill you know still selling instill like have a great audience for it and will continue to in the future can you talk a little bit about your fundraising history obviously you know we talked about kickstarter but since then you've raised some money as well right yeah we've raised about ten million dollars today nuts that's been over like five years 'em you know kickstarter we did a kickstarter and then it wasn't probably until a year and a half later that we launched the bed frame in you know focused very much on on scaling the you know the table legs i think we knew there was an opportunity there it's still to this day is a product of people love and you know come to floyd for you know we took him out of sight one time away replenishing yemen tori and you know he had some pretty pretty upset emails about like bringing the product back but back to your point of raising capital i think you know like we you know after the kickstarted we we actually took a loan out that both alex and i personally guaranteed to scale the business in in in kind of hold inventory for a bit there and then soon after that we did a seed round the funding in that you know is very much about scaling scaling a team in and then you know kind of really getting to the bed frame to to fruition and then more recently there isn't any around the funding at a that was you know like scaling teams killing product line you know and marketing and i think you know that's kind of giving us the field said to be able to launch new products and you know as we cruise in the twenty nineteen were really excited about you know what we have on on the road map in in i think guy you know we have a team that's you know committed to so so all these you know exciting launches we have had this year in which would be investors that have come on board like we have you know great like kind of strategic partner in lazy boy that's and investor i'm into their forty minutes from office and they have no that's how most honored years of of manufacturing expertise and their team has been really excited that help you know it's like how kind of cultivate the next generation furniture brand in michigan envy on i'm so they've been an amazing partner we have a group in michigan called benji a that's a major major partner they're one of the biggest investors in the state as well as a group called fourteen w that purely playing like do you see e commerce swith like glass cia in berlin outdoor voices so it's a great mix of expertise and we really love bringing that group together you know the fact that everyone super line but are goal of building a long term business that were not in this for a quick sal trying to build something of lasting value and that's super important to investors that you're aligned around that because if you're not in any might be fined for few years but it's gonna come out at some point that dismissed alignment and so i think that's really important to to be on the same page with investors and you're partners and we've been really fortunate to have that did you find it difficult in any way you know coming from michigan and having a maybe a little bit more methodical approach approach to the way that you built the business overtime of doing this fundraising process more recently yeah i mean i think a couple of interesting things there that we like to think about i mean you know we look at companies like like nike or even i see a you know starting starting in in in cities that are silicon valley and new york and built really amazing teams and really amazing companies that have lasting impact on i mean for the start in this city general motors a you know a lot of great companies come out of michigan and a and i think yeah like early on we raising funding i mean we got a lot of knows along the way and then there were there were funds that were 'em you know pretty explicit we had somebody tell us that like hey if i can't stop by you know it just sounds like one of the things you just hear it's cliche but like we were told if if i can't stop by their office on my drive from palo alto san francisco were not investing is like actual like somebody told us and and we had funds that were like hey you need to launch 'em rose one point we were like really excited about that i'm you know i think works in the space a lot that really want us to launch more like innovations in style of a bed frame and you know i think frosted flakes being very trudeau vision that it's one one product and it's not about ornamentation it's about you know like utility in being of like lasting quality you're vision in in where you're at and all these other things are always gonna line with every investor and i think it's it is important to just stand by you know what you know what you believe in and 'em well it took a lot of notes to the right place and ended up giving us investors that i think are like alex that very much behind are are vision and mission in in in totally excited about us being in detroit when you think about that ad from herman miller that's you know saying this this terrorist it'd be around in a hundred years do you do you put yourself a under that same constraint in your design process in and i guess how does that influence like your our personal as as just you as an individual person like year relationship to the company an end whether this is something that you want to stand by for the the rest of your life is floyd the company that you wanna keep working on offer the rest of your life i think to that to that first point about herman miller is kind of statement on the next hundred years of doing this story after you know tread lightly and remind ourselves that were only five years in into into a company 'em in that we're just getting started in that like we have are inspiration and we have like are north stars and companies and people that we look to and that we really helped deliver up to because we would like to build this arrest of are lies and and keep going at it in and keep building a brand of lasting meaning and some something that was really special per per con i was a few years ago we got the meat of on sean are founder of patagonia and he was just like coming back from like a fishing trip and like just seemed like in this kind of how he was just in a different space of austin like the kind of entrepreneurs you meet somebody that really loved his mission on that really like you know had built a great sustainable really amazing business but it's driven by a lot of altruistic things around the environment around that what then he really thought that was gonna be the lasting impact patagonian so i think those you know somebody like launched an artist a real hero for us yeah everything just just a great model of of a way of living yeah and i think i think we like to think about that if you know every bed frame we sell each one is is potentially another bed frame that that could have otherwise just you know ended up in the dumpster or or been another mom bed that that somebody bought per one move and you know if we think about it just says like kind of in the incremental way of like while just getting started impacting how you know people are thinking about consumption the consumption of furniture and i think you know ultimately that yeah is is is what started this company in in if something we think about in our whole team thinks about you know literally everyday yeah i mean i think it's a it's a difficult to you know we we all wish there are companies in in these things i i will exist for a long time and then there's the practical reality of of the data day of renting it in you know the ups and downs of that in and also you know trying to design something that's going to last forever is is a big challenge especially when you're relatively typically new to it but it's a it's been a topic that has come back on the on the podcast recently of just i i would like to see start ups on stink more long term and think about their impact over the course of like multiple decades a little bit more more and more seeing some some folks think about it that way as well i'm curious when you think about thee purpose of furniture over the course of the next fifty to a hundred years assuming assuming we don't all get plugged into the matrix or something thing in like living bats like i i'm assuming people still need to sit on things in fifty here's a hundred years like what would you like the world's a look like in in the long term when it comes to the furniture market i guess for already planning on launching a fat and she can plug into combined still in in in birch looks really grown in the home with a look at look at a company like like ikea launched in nineteen forty six and it's in sweden and how different the world was and there is no the the information technology revolution hadn't happened you know even even the international dynamics were so different you still have the soviet union there you know the internet hadn't been invented dented and so just think about these kind of shifts in the world that happens from time then i began to where they are today and everything about that business model has really changed from where they were in the beginning but the thing is is that they still sell product and they still people still using inside thing for us like we think that are business model will transform and change in ways we can even imagine today on that's for sure but i think the design and the commitments that good products i think that's just probably stay pretty pretty constant yeah there's this classic quote from jeff basis who you know he he says that he's often asked what will be different in twenty years and he points out like what's not going to be different in twenty years you know people are people are still going to want low prices are still gonna want a good selection of products they're still gonna want stuff to get to them quickly especially in the furniture world you kind of have as opposed to you know if you were making some like a very 'em techie product or very fashionable product you have the opportunity to think a little bit more long term in you know sort of joking yet people still need to sit but like there are a lot of companies who are in the furniture world trenton bed technology in there like that that hasn't been a trend is that something thing that you find yourself kind of rejecting or being pulled towards how do you think about that yeah i i think we tie alex's point earlier it's like furniture in simple design has withstood the test of time and i think like we we do like to keep it simple and think about what other things that will be around and i think like yeah i'm betting technology in in furniture isn't necessarily a proven need or a pain points where people i think throwing a use beer plug into a chair something isn't isn't something that like were necessarily after 'em but i think it's not something that's like you know serviceable in may work in in thirty or forty years and i think there's so many examples of how that hasn't worked 'em apple changing the connector every every three years so i dunno change their furniture every three years right into anything that's what we wanna void and i think there are like yeah i mean i think like when we were getting started there was so much talk about the internet of things which i think is still you know there are applicable faces course and i obviously play a ton of technology in my home 'em but i don't know that it needs to be specifically embedded into furniture and i think that just drives be obsolescence of furniture by putting a piece of technology in it i think you like names chair with a a plug from the nineteen sixties like what would that look like now you know like and what and what would be application so i think yeah like the way were gonna be more time listeners really designing products that that sort of function that is timeless in in sleeping is timeless sitting in taught is timeless and and i think eating dinner at a kitchen table and drinking wine is timeless yet i think something like on the cause beyond just the the technology in in furniture sure which were were not in line with us but i think the aspect of how technology is constantly being integrated in are business is something totally different and just like thinking about how seamless a process of buying a piece of furniture can be we've got you know distance to make up there but we've also accomplished a lot over the last few years ago today you come in on l a's chicago new york and san francisco you couldn't order a bed frame herself up by four pm and get it delivered to door by nine pm or you could choose to get it delivered on a different day if you don't wanna get something the same day that kind of experience is something that where we feel that were leaps and bounds ahead of other other furniture companies but were super excited about some new opportunities that were working on today that distinct will make that even a better experience and that's totally driven by technology i was gonna ask about that so what what have you learned over the past few years about eight convincing someone to buy a piece of furniture you know purely based son photos and be like getting that furniture to them in the mail you know similar to the way you know we talked about adding kevin new materials and processes each each product as we've grown we've done that in a way you know what are what products as well like from the purchase experience so like you know it's easy to ship is set a table legs became a lot more complicated the ship a bed frame but the great thing about a bed frame it was you know what you see is what you get it's kind of hard good i think we've really challenging yourself so far which you know as we've learned from how to how to get a big product people from the bed frame we you know the soap has feel at has materiality that that matters and i think like kind of you know creating new touch points and how people might experience that product before getting it has become really critical and i think continuing to learn from that process and then consumers are becoming more comfortable with buying things like that online and i think you know we wanna make it a a great experience one thing we we really don't don't wanna do though is a you know getting this model where were you know giving eight a you know a child period and shipping something somebody that they ultimately he's sending back so you know argos company is to scrape confidence before the purchase so that when they get it there are no surprises there isn't a likelihood that it will be sent back because in furniture you know we don't really feel like an idea of like trying a product out is it sustainable model both financially and free environment that you know a product being sent back is more likely to get damaged in it's much larger footprint yet says some things that we've we've done like just kind of build that confidence beyond just like what we can do onsite 'em we did a an initiative called flight housewarming forming where we did a pop ups in real homes around the country so we did one in the mission in san francisco on an echo park on and then so how at the end of last year and it was just cool for people to be able to common ashley experience experience the product in this beautiful space where it's meant to be and so they liked in new york by the time we got to the last one we have this opening party which in this two bedroom place and over five hundred people showed up to the opening event and it it's incredible the see that kind of like excitement and in that following i'm so those that was kind of some some activation we've done we also have a in miss should've called stay floyd where we put are product center favor ambien bees around the country so you can actually go and book a stay hey there i'm so were continuing it's a suburb of new new initiatives 'em it'll it'll be cool this year see you know where that goes do you have a sense of what proportion of your customers are actually getting to touch and see the product before they buy it it's it's very very minimal on that are actually getting the cnn by it i mean we do have a really high rate of conversion from people like for the cell phone stickler getting swatch and being able to see the quality of the fabric and being able to understand it on some frost i think it's you know maybe maybe those initiatives you know less so of like the actual tactical experience of like seeing the product in person but i think the the confidence of build that you're seeing other people interact but that you're seeing other people have a great experience i think is also really valuable you mentioned that now in in some of the cities around you as you can get some of these products delivered same day what can you tell us about the logistics and supply chain behind that i mean so that decision was like very much driven by you know we were sending a lot of product you know you ps fedex customers like in new york san francisco out even though this thing before we have customers reach out about this but who would take off ideo were because the product arriving you know they would have they're tracking in something what happened with fedex and it would come friday instead of thursday and they'd have to like take another day off work like rearranged reschedule so we really like sat sat down and like how do we figure out a way to make you know this delivery process is transparent as possible and you know what we landed on was that if somebody can ensure that it's delivered in the evening and you know if they can have it delivered that that day it would very much you know allow them to ensure that they were home and in plan around it so that was really emphasis less less about speed i mean the speed is a really great great part of it but you know more more really being about a clear transparent like delivery process and also coming when people want it the supply chain behind that i think come you know part of our model and and being very deliberate about the products we offer is that you know caring inventory in these different cities 'em with you know the number of skews we have is is attainable in that isn't necessarily something that's you know attainable for a lot of furniture companies 'cause they have tens of thousands of skew sometimes in sixty different fabrics so really thinking about the products were offering 'em in in kind of building at are supply chain around that has has kind of allowed us to be probably fastest furniture company out there yeah i think that's a really really good point and and so you it seems like more optimized for the breadth of dra then like the depth of for lack of a better word like you're not going in there and having like ten different kinds of like woods finishes for your for your bed frame for instance a year you're trying to expand to to new categories more so is that is that fair yeah i think that's that's definitely accurate and i think it's awesome i mean i think people have different preferences you know taste anything like that we learn from our customers on that end of things and and there might be different variants we offer in the future because of that but but i think that's dramatically different than a lot of companies who have hundreds maybe if not more fabrics and in options and a and i think that ultimately treats her decision fatigue 'em kind of a bumpy supply chain pain in really undone are unnecessary why guess their from their point of view it's like they want any given you know shape or style maximize the like a amount of revenue they can get out of it and minimize the number of knows that they get because you know someone says hey you know i want this and a different color but that's like a trade off that you kind of have to make and i think that because of the style that you've chosen being like relatively neutral and kind of in line i think with the taste of a lot of folks these days i think that it makes sense to go the way that you've gone you mentioned it on the on the horizon here for this summer you've got another product coming up like i would love to hear whatever you're willing to share about like what you're excited about for the upcoming year to yeah i mean i think were you know like we see the homeless are domain in anything cheer point earlier that were kind of tackling one product at a timing being thoughtful as we can about that product in yeah i saw on the horizon where you know where it kind of doing things that have been requested by customers like we have a set of the kind of launched this kind of under a bed storage system that is is modular kind of part how the bed frame already work something we think it's pretty unique idea and it's a i think has been one of the most requested you know needs irwin from a customer so you know that's one thing that's exciting like from that like a whole new product category like a shoving system that 'em ends up in allowing people to to grow with the product over time in in in i think what spread that product is you know the best selling furniture product in in history is the belly bookshelf and ikea cells i think one of those every you know five every ten seconds or something like that and i think in our opinion those probably in a lot of those end up in the dumpster so i think it's like how do we create a very thoughtful bookshelf that somebody can keep for a long period of time that can adapt to their their needs and i think a product were super super super excited about 'em but beyond that i think like yeah i think from you know expanding are table category too you know thinking about lighting seeding at cetera i think there's a product teams kind of you're not worth designing new thinking about new solutions in a in an i think there's a lot of things really think about in in the furniture space and a lot of things were pretty excited about also something that is 'em some people can if they're if they're curious about this could go floyd lab dot com which i think is is really cool it's like a year blog where you're sharing some of these process behind you're design of the furniture there's like an update about the bookshelf that you just talked about i think that's that's so cool and i i actually feel like you should push it even further insure even more because it's something that people have very little insight about but as you probably know from having done the kickstarter campaign people really love seeing the behind the scenes and understanding the thought process and being part of the discussion around like you know ultimately these are the the consumers of that product so can they be part of the design process in any way or provide suggestions that might push you in one direction versus another yeah i mean i think the lab allowed pages is has been really interesting to see like the feedback in in in i think 'em yeah you're totally right were were pushing that further in in you know ultimately from the beginning of the company communicating through kickstarter sharing like the design process and the story is is something that we you know we do take very seriously at some i think if you look at the rest of the furniture industry it's typically you know designing product is something that's kind of shielded from people and how close to the chest and i think i think that makes design austin feel inaccessible and exclusive and i think we want you know for them to appreciate a product prefer like like anybody out there to appreciate a product i think understanding the thoughtfulness of designing and what goes into making it is yeah this is super important and a in something we wanna you know it's you need a shirt more and more of yeah i guess this year is always that you know someone else who's going to steal your ideas or something like that but sometimes it can be so 'em freeing to be in a market like by any you know perception might be like a red ocean or something like that where you know there's so many different companies already providing furniture that for you to open it up doesn't feel like necessarily you know anyone's gonna steal that idea or if they did you know what's the big deal i guess i i don't really know why people don't do it do it as much yeah i mean we definitely don't like people stealing ideas but i think as as much as the next person i think for us we know how hard it is to do this i we've been at this for five years and just knowing that just because you have a product doesn't mean you're gonna be successful have to deliver an incredible service day in day out you have to communicate the value day in day out and that is extremely challenging to do that sustainably so i think that that that's why you know we we are like so holding that types of the chest from a business strategy point of view cool on so if people wanna discover more about floyd they can go floyd home dot com is there anything we've got a lot of smart folks listening is there anything you're hiring for right now any job openings anything that you need help on that that people could jump in in you know give you some feedback on well what one areas we really wanna dive deeper into like are storytelling particularly around you know telling the story of you know are customers and taking more editorial approach and so having trying to drive on more people back to the site for inspiration around home so we're looking for an editorial director that'll be listed pretty soon yeah i mean we have another number of other you know great physicians and a and i think yeah like two point earlier i think 'em kind of exciting things happening detroit in lhasa fee here so oh yeah if you find a way to destroy it could definitely stop by are are offices in eastern market we have a show room here and it's definitely definitely works i mean see why feel that that is that is something that is so underrated rated now especially with companies like yours where you have the benefit of you know being venture backed and that kind of thing where you you you could probably get very high arbitrage in terms of like at what year rent has the cost or like if you wanna buy a house or something seem like that on san francisco new york or detroit that like how far i dollars gonna go is gonna be pretty different yeah yeah sure anything else you wanna point people to 'em if you're looking the child is so fun person we've got this part of a website where called self is in the world than where in most major cities that you go and sit in one in person whether it's while having a cup of coffee at a bookstore so you could check out the locations they're awesome kyle alex it was so great tickets and now you think you so much yeah this is awesome next having us based on the true shit who one last thing before we go and talking to you at home what's your favorite brand these days