35 Burst results for "Money"
The 529 Plan Helps You Pay for Your Education Tax Free
"To talk about how to pay for education tax free for the aforementioned greedy, unwashed now. There's a kind of college plan that is called the 5 29 plan, right and it was designed to have money that you put into the plan grow tax free. And then if it's distributed, and it's paid out for the purposes of education, it's also tax free. So it is really a very, very cool thing. Potentially Okay now. How does it fit into the estate tax estate planning circumstance? Well, let me go over three things. First of all. Anything that you put into 5 29 plan are considered immediately removed from your estate. So what That means is that it could reduce or eliminate your estate taxes right off the bat. Okay, so from an estate tax standpoint, if you pass and that money is still in the 5 29 plan. It is not included in your estate, and it is there for education. E. Due to now, the other thing about it. Is that the gifts that you there there's some significant gifting benefits, too. Putting money until 5 29 plan and again you pay no tax on it. So here's the deal. You can make five years of contributions. So the contributions are you going to give up to $75,000 per beneficiary per child? Okay. Or if you match if you match up with your spouse $150,000 Now you could do that over five years or you can do it all up front. So you can make significant gifts into the plan. And again, those gifts are not counted as a gift right for tax purposes, so there's no gift tax on it.
Dogecoin Tumbles After Elon Musk Calls It a 'Hustle' on SNL
"Crypto currency. Dodge Coin drops sharply after Elon Musk joked about it. In his debut on NBC's Saturday Night Live. It's an unstoppable financial vehicle is going to take over the world. I get that, But what is it, man? I keep telling you, it's a Cryptocurrency. You can trade for conventional money. Oh, so the hustle Yes. Also 49 year old multi billionaire also unexpectedly revealed an Asperger's syndrome diagnosis. I'm
North Dakota Governor Vetoes Penalizing State Colleges Over Abortions
"Governor of North Dakota, part of partially vetoed a bill that would have sanctioned 11 state colleges and universities for directing federal grant money to any individual or organization that promotes or performs abortions. The governor said the penalties are quote
Florida Sued Over New Law That Limits Ballot Initiatives
"I'm Julie Walker a federal lawsuit filed Saturday is seeking to strike down Florida's attempt to make it more difficult for voters to change the state constitution the new law was just signed Friday by governor Ron DeSantis it establishes a three thousand dollar limit on individual contributions to groups promoting ballot initiatives the limit is proposed until a proposal is approved for the ballot which could have made it impossible for measures such as medical marijuana or minimum wage increase to get before voters the ACLU of Florida which filed the complaint says it violates the first amendment by burdening free speech and association Republicans who backed the initiative argued it was needed to keep out of state special interest money from influencing the state constitution I'm Julie Walker
Walt Disney World, Universal Studios to End Temperature Checks for Guests
"Altering their coronavirus safety measures as the guidance from the Centers for Disease Control and Prevention evolves. Tell you Blake of member station W. M. Effie reports on Universal and Walt Disney World. Both Universal, Orlando and Disney World reopened last summer requiring temperature checks for guests. Universal. Orlando now says it no longer requires temperature checks as guests into the park. Disney will begin phasing out the checks for cast members beginning today, May 8th and for guests May 16th. Both companies say they're following guidance from health and government officials. Earlier this week, Republican Governor Rhonda Santis signed an executive order lifting local rules requiring mask wearing and social distancing. Universal has also dropped Social distancing to three FT. While Disney remains at six. FT. For NPR news. I'm Talia Blake, representatives,
Chinese Rocket Debris Expected to Hit Earth This Weekend
"Air blasting the United States for making too big a deal about their 100 FT rocket that's due to come crashing to earth sometime this weekend. I didn't know we were making that big of a deal about it, apparently just the fact that we are talking about it. It all has China very upset. Well, don't launch rockets in the space and then not have a plan for them to come back. You idiots. Apparently, we don't know, but apparently we're not gonna be shooting it down, either they because people were talking about is doing that. I don't know how you're gonna be able. If you don't know where it's gonna land. Are you gonna be able to anyway? I think they're going to get like a couple of hours. They'll have like a two hour window window of when it you know, sort of re enters the atmosphere when they'll be like Okay. Now we know basically the radius of of impact. In a story published by the country state media, the officials criticized Western hype of the China threat and space technology advancement, adding. It's Completely normal for rocket debris to return to earth. Chinese experts conclude The rocket, which helped carry the country's new space station in orbit last week, will likely fall in international waters, and they're right. Yeah, my most likely cause a lot of water on the planet. You know, there's a chance. What if it doesn't if there's if there's a there's a possibility here, Um, it could land on the third Precinct. It's still a shell E mean that zero notice to say it way. Just be our luck. It would just be our Like that The rocket would land like, you know, somewhere in the twin cities, something that just got rebuilt from the right right right. And that's something that the DFL ongoing capitalize on and try to get more money from the taxpayers to fix. Us. Defense Secretary Lloyd Austin agrees. There's not a strong chance the rocket will. There's a strong chance the rocket will land in the ocean, he says. There's also a chance it won't For those of us who operate in the space domain. There should be a requirement to operate in a safe and thoughtful mode and make sure we take those kinds of things into consideration, adding. We had the capability to do a lot of things. We don't plan to shoot it. Down as we speak, he says. We don't have a plan to shoot it down as we speak, and that could be interpreted in a few different ways. That's true that could be interpreted as we don't think it will be necessary to shoot it down or
Temporal Product: Managing State With Ryland Goldstein
"Done a show about temporal before and workflow engines in general. But i think it's a pretty deep subject and i like to start off by just exploring. The distributed systems related problems that a typical infrastructure team might encounter. That are still not solved by all these nice tools that we have today like. Aws and cooper netease and so on what are the outstanding problems. Yeah it's a great question from my point of view. It's actually sort of the same problems that people have been. Having even before distributed systems were like in vogue and they were the way to build applications. I think you know the same problems around. You know transaction optimistic basically guaranteeing that things like transferring. Money works out. Well those were problems that existed far before you know. Most systems were distributed world. These web scale companies. I think what ended up happening. Is that those problems they lingered you know. Those are still challenges that companies that are really important like banks and other financial institutions. even just like ecommerce. They still have to solve those problems. But now it's under the context of having to do it in a distributed environment and so it's essentially having to solve the same problems that were already challenging but now the pieces that you're actually building your application on top of in the things you're sort of relying on our shifting under you because their these distributed systems with all these edge cases
Temporal Product: Managing State with Ryland Goldstein
"We've done a show about temporal before and workflow engines in general. But i think it's a pretty deep subject and i like to start off by just exploring. The distributed systems related problems that a typical infrastructure team might encounter. That are still not solved by all these nice tools that we have today like. Aws and cooper netease and so on what are the outstanding problems. Yeah it's a great question from my point of view. It's actually sort of the same problems that people have been. Having even before distributed systems were like in vogue and they were the way to build applications. I think you know the same problems around. You know transaction optimistic basically guaranteeing that things like transferring. Money works out. Well those were problems that existed far before you know. Most systems were distributed world. These web scale companies. I think what ended up happening. Is that those problems they lingered you know. Those are still challenges that companies that are really important like banks and other financial institutions. even just like ecommerce. They still have to solve those problems. But now it's under the context of having to do it in a distributed environment and so it's essentially having to solve the same problems that were already challenging but now the pieces that you're actually building your application on top of in the things you're sort of relying on our shifting under you because their these distributed systems with all these edge cases
Microsoft Pledges to Be Carbon Negative by 2030
"The ceo of microsoft gone on onstage at microsoft headquarters. Please welcome saatchi. now della. He walks on and stands facing the crowd behind on. There's this wall covered with these healthy looking green leaves. Thank you so very much. It's fantastic to be here today. It kind of looks like a ted talk crossed with the product announcement. That's corporations it up opposite. Actions must be aligned to helping solve the world's problems not create new ones and then he gets to microsoft's new pledge to fight climate change today. You're making the commitment that by twenty thirty microsoft will be carbon negative carbon negative. What does that even mean. Microsoft has offices around the world that use lots of electricity they have fleets of cars and trucks. Data centers. That use diesel. All of those things mean carbon emissions but somehow the ceo of microsoft is saying his company's going to eliminate all those carbon emissions even better reverse them their plan. The answer in part has to do with what's displayed on the screen above him images of giant pristine forests forests trees. These are not just nice. Nature images trees are gonna solve some serious climate accounting problems for microsoft. This is the decade to take bold steps forward to address a most pressing challenges. Thank you one. Fifth of the world's largest companies have made pledges this one to reduce their carbon footprint. Two zero or beyond. They've done the math and decided that they can do this. In part by paying someone across the world to save trees. Which really is that really. We're gonna do this.
US Economy Only Added 266,000 April Jobs; Markets Rally
"The april jobs report a total bomb payrolls growing at a fraction of what was expected and the unemployment rate taking higher. So what did the market do. It rallied of course many seen the weak jobs report giving the fed coverage remain dovish for longer the dow and closing at record highs and nasdaq also moving higher. The reflation trade was really driving the action today energy industrials materials all rallying strong into the close. Check out the moving. The oh oily. It gained nearly five percent today closing of session highs. And even some parts of the tech trade held up. Semiconductors software names also rising. Today's session outperforming. The broader nasdaq. So what do you make it. Today's action on the back of the biggest jobs miss in more than twenty years. Tammy i'm not sure. If i told you what the outcome of the jobs report was you could have guessed with. This market would have done today. Well i know that the market likes bad news is good news and so let's break out some new kids here because we're going to do a lot of that tonight. I mean you know it's hanging tough and it's hanging tough around the concept that the fed certainly is not moving away anytime soon so Big biggest missing in twenty two years or something in terms of a payroll number. The bottom line here is if it gave ammunition gay. You'll you talked about energy. We've talked to energy all week. Was tom lee or paul. Sankey i gave you my energy basket e oh og up about fourteen percent this year slumbers this week this week. Slumber j. up about sixteen percent this week. Cbs up about seven percent this week. Energy copper prices. All time highs. You were you. Were berating me for yelling on twitter about copper prices just recently. I'm telling you commodity prices lumber prices food prices. It's great for investors in those sectors may not be great for consumers may not be great for multinationals and the input prices we started to talk about that with automakers with housing with even some of the industrial plays like a whirlpool and input costs there but but look markets at all time highs dollars weaker entire complex global markets also emerging markets. Catching some fire this
Twitter Introduces Tip Jar
"As expected twitter has taken the wraps off of tip jar a new feature allowing everyone using twitter in english to send tips and a limited group including journalists and experts to actually accept those tips coating the verge to use the tip jar simply tap on the freshly added dollar. Bill icon next to someone's username when viewing their profile. On one of twitter's mobile apps users will be able to toggle the tip jar feature to for those individuals or organizations that don't want people just sending them cash out of the blue android users will also be able to send money in twitter's clubhouse like spaces tip jars supports a variety of payment options and links band camp cash app patriotic pay pal and then mo twitter is using those services external payment processors for transactions. It doesn't take a cut all english language. Twitter users can send tips starting today but only a select group including craters journalists. Experts and nonprofits can't turn on the feature to accept money for now
FEC Drops Trump Hush-Money Investigation
The Top 5 Social Media Apps for Online Fitness Coaches
"Five on my top. Five social media apps for ominous coaches. If you guys run and grow business is is lincoln. Lincoln is number five guys. Want to take some guesses at number four. What's number four if layton's number five. What do you guys think number. Four is the six some guesses on. I'm going to take some guesses in your head. I want you to think about what you think. Number four is right now for social media. Number four for social media for growing on my coaching business is clubhouse clubhouse from me right now's number four and i'll tell you why club osas number four. I think close. Mike climb on my list overtime but the reason that closes number four for me is the potential for growth rate. Now is massive on clothes. I really do think like the potential to grow. Clubhouse is very big. You know speaking up in rooms that are like you know. Big that aren't yours is a really good chance to grow following the downside of clubs from me is like and for those of you guys. That don't know what cobos quickly sixty seven seconds. Summary clubhouse is our as a voice as a live voice app so essentially. It's you can join rooms that people are hosting. And let's say. The room is about entrepreneurship or like weight loss. Or whatever so you joined the room. There's a group of moderators. It can be like one to five to ten different moderators. And then there's people in the audience and the people in the audience can raise their hand. They have something to say and so close. The potential on the app is big. And i do think that it has potential surge over the course of the next two to three months especially wants to gets released to android the downside of clubs from me is that it takes a significant amount of time because even for the chance to speak like if you're hosting your own room that's dope but you're not going to have a lot of followers at first when you you start the app so that's the downside and and so if you want to speak up in a bigger room like you know the bigger room to get a more followers give to sit there and you have to wait your turn and so the downside from me on clubhouse is that like there's a lot of potential claus and it is huge. The downside for me is that it takes a significant amount of
Nearly One Million People Signed up for Obamacare Coverage This Spring
"People signed up for the affordable Care act. President Biden extended enrollment until mid August, so even more people may sign up. Health and Human Services Secretary Javier Becerra says because of additional money from the American rescue plan, they've been able to reduce premiums by 40% for about two million enrollees who've signed up since April, and premiums fell 25% for those who signed up in February and March. Last fall during regular enrollment. More than eight million people signed up for Obamacare, and these numbers are only from the 36 states that participate in the federal exchange. Jessica Rosenthal funks News.
From Twitter to Palantir, Losses in Technology Stocks Stack Up
"On the one side. The reason highflyers crashing back to earth. They just check out. These moves fastly. Fc twilla draftkings all plunging. Those names now down at least thirty percent from their all-time highs on the other side the old school value name cisco ibm dow oracle not just today but many are trading at or near all time highs so in this tech tug o war. What side do you bet on dan. Well right now. It seems pretty clear. I mean the pandemic winners right some of these high valuation high growth names that were really well situated during just the unique situation during the pandemic they pulled forward a lot of demand here and now they're faced with decelerating metrics forward on all sorts of occasions. You have fastly down there. Facet was down twenty five percent today. It's still trades at about ten times next year sales so the demand and the pace in which these companies were growing in last year into this year are just not sustainable at these valuations. I throw a whole nother group though in their mail. We've seen some huge. Ipo's over the last six months or so airbnb. Door dash snowflake pailin tear and those stocks are down thirty forty percent from their recent highs. And they'd be more comparable to the oracle the dell the ibm and the cisco and i do think that as a really interesting relationship here that you're seeing rotation out of these high valuation names into cheap names that are more stable that don't have the growth just a bit more defensive here.
A New Option for Building and Repairing Credit
"Over the years. I've done a lot of counseling with individuals and couples that are in a world of hurt with debt and there are different situations that lead people into debt. Half of the time. It's not lifestyle it's medical debt but the other half often. it's how we handle money. That gets us into trouble. And i've had a standard method that i've used when i'm dealing with people who have lifestyle debt. I've used it for more than thirty years. And it sounds so antiquated now. But it's all about paying for everything that's walking around with cash. I've found again and again and again people in over their heads financially end up getting control back if they get rid of plastic and it doesn't mean closing accounts although some people need to do that. It's where you put your cards literally in the deep freeze and if you think i'm kidding i'm not so sure you take a freezer bag but your credit and debit card in credit and debit cards because so to say singular. It's not true for most people you put them in a plastic bag but water in the bag. Seal it and throw it in your freezer. And i just been stunned over the years. I mean there are people who who bail out. Don't stick with it but people who do are shocked how quickly they dig out of debt by living on an allowance
Pepsi's Number Fever
"Victoria. And where nato angelo. Where a couple living in manila in the philippines. They had a pretty hot life. When i worked as a rickshaw driver and the whole family lived in a tin roof shack but they had a dream. Tim hoffa talks about this in his cautionary tales. Podcast and that dream is that they'll win a very unusual lottery. The lottery is called number fever in the lottery. Numbers are printed on the inside of bottle tops on bottles of pepsi. They sat down every night to wash numbers drawn on tv. If the number from your bottle top was drawn in one grand prize you could win a million pesos. That's equivalent to about forty thousand american dollars. That is a lot of money in the philippines in one thousand nine hundred to a life changing amount of money for victoria and anita if they were ever to win it but of course. It's just that one grand prize. What are the chances they would ever win. What was the number. The number was three four nine one evening. They are watching the television and the lottery. Juries held on the number comes up and it's three four nine. They can't believe it. Got forty thousand dollars a million pesos. They the children can go to college. Anita doesn't have to work as a rickshaw driver any more it would be like winning a million dollars in the us. Today but pepsi messed up and eight hundred thousand bottletops printed with the winning number three four nine so for victoria and horta the way i imagine. This is the run out onto the streets to celebrate and everybody else is on the streets and they're celebrating too because they all have the number three four nine on their bottle tops. So they're all going to be millionaires. Yeah well you'd think pepsi was on the hook for at least fifteen billion dollars
Hollywood Foreign Press Association to Vote on Reforms
"Thursday. The association that awards the Golden Globes is set to vote on reforms after more than 100, heavy hitting Hollywood publicist threatened to stop doing business with the group. Reforms would fundamentally change the way the Hollywood Foreign Press Association does business. It's a big question whether that's going to happen, and there's a lot of people waiting to see. It's not just the publicists and time's up in these advocacy groups. But NBC, which broadcasts The show and Dick Clark Productions, which produces the show that Stacy Permit a staff writer at the L. A times who detailed years of unethical and possibly illegal conduct in an investigation of the H F P A She spoke with us earlier today, and I asked her about some of the conduct in question. They ran the gamut from issues of sexism and racism and homophobia to that I convention is one publicist said that They had an actor, amateur actor and one of the members asked them. Do you still have sex at your age on brother situation and actor came out and they asked him if he was going to be filing for bankruptcy again. I mean, these are questions that are inappropriate in any form and certainly have nothing to do with the project that they're there to talk about him promote, but more important, and perhaps more more damaging. They described that the age of P a would snub clients. Those clients, particularly if they were people of color if the projects they represented were led by people of color or non a listers. So why is this this so significant? So first of all, in order to get a nomination, a Golden Globe nomination. You need to get in front of the H F P A. And that means one of their sanctions, screenings and press conferences. So if you're not going to get their attention, you're not going to get a nomination. And a nomination. It's become a huge marketing tool in the industry, which translates to attention for the projects that it translates to box office, which means money talent themselves. You know, with the nomination or wind on her hand, can use that you know when they're leveraging their next deal, so it's part of the Hollywood eco system.
"money" Discussed on Slate Money
"So stacy i have been watching the rise and rise of the big tech giant's longtime and as often happens that market capitalizations reached the roof awhile ago but now it seems that the earnings sort of growing into that capitalizations and they are making profits. The lake of which just boggles my mind. I i wrote about google this week which well up lake three billion dollars something from the fourth quarter the first quarter never increase in the fourth quarter but they did and apple just had record earnings. Facebook is up there. Can you explain to me like what is going on. Yesterday i was reading a story from shiro the new york times. The does a word that she used. Which i fundamentally agree with which i think explains like your head exploded bonkers and the kind of both the rate of growth that you described but also justice scale of these companies in hard to compare it to anything else. Even aside from usual complaints vote comparing stocks close. I think one of the things interesting particularly for apple is kind of you. Know the tripling or quadrupling down on services on the idea that they have fully embraced the complementarity of hardware and software realizing borough hard caps on the number of twelve hundred dollar phones that you can necessarily sell. But there's almost an infinite number of games books movies apps that folks of the world are willing to engage with and what. I'm really interested in seeing. If i imagine what the future will look like is to what extent these numbers really represent the consumption shift that we've all had over the possible ones where it's like you're not going out with you will rent or buy a movie or if you're not going out you will rent or buy a game or you're spending so much more time on facebook and instagram. There's at least in my friends. Rickles has been a lot of anecdotal. Yeah i like instagram targeted really aggressively with this. Like really cool than an elephant in one hundred percent takes in a way. That was not a conversation before unpack this a little bit as someone who has spent a large amount of money on movies. Thanks largely to sleep. Money goes to the movies. Second season coming up seeing this old rings true to me but a you saying that there is a real possibility that upholds what you call services revenues things like movie rentals app store cut and that kind of thing could actually really genuinely thought rivaling. The amount of money they are making from selling hardware is something that apple would be interested in having be true. And i don't think it's right. I think that there is still a lot. Is one of the reasons that i've been paying a lot of attention to their bundling strategy right so if you spend more than five seconds on twitter probably been targeted with apple fitness. Plus or apple tv plus. No emily emily emily psychographic profile and see why again. I think you should be targets in apple's given up on me you don't spend as much money as they are spending on like original apple television apple tv plus content without having a grander ambitions for what is often called inside the company. The ecosystem right. It's like you want somebody watching apple tv plus on an apple tv second screening on an ipod thirds creeping on an iphone where they might be playing a game that they've downloaded kind of the dream of really holistic services on hardware integration. In a way that. I think even microsoft would be envious of. I do think though that they're blockbuster. Bonkers revenue profits for the first quarter was a lot to do with were home and needed apple products. A lot of people bought phones. A lot of people balked computers especially in education round students needed new staff and i think drove a lot of the money. That apple made like the long term plan is to make more money from services but right now what happened just recently was people bought a lot of stuff a lot of products from apple. You see that in the earnings down revenue from Street hardware was up seventeen percent year over year. Revenue from services was just under thirty percents year over year. Wow so the hardware is growing even faster than this like supposedly going soft all the services stuff might be a bit more occurring the other thing. Of course that's happened. Big change in apple is that they started making their own chips and that is fantastic for profits the new m one chip which everyone just adores and things amazing is much much faster than anything may come by from intel motorola or anyone else but more to the point is cheaper. So they can. It helps them really increase their profit margins and become even more plant. We wanted to talk about this too. I think the big rumble. Now between tim apple.
"money" Discussed on Millennial Money
"Your net worth than your financial professionals and then estate planning those are the ten components. And i realized that the reason why i knew internally like something's not right i'm financially free. I have enough money to work. But i didn't know i didn't have time for it until i realized i'm like i'm not holistically where i want to be financially. Oh tiffany let's call. This financial wholeness these ten things not working together. Although i had most of the things i didn't have the insurance. I didn't have the estate plan and i didn't have all the financial professionals that i needed so i was about seventy percent financially whole but thirty percent. Were still in the win. Like i'll give you an example like print so the artist formerly known as rainn right so we all can say yes. Prince was financially free. He owned the masters to his music. It was used in commercials was wealthy wealthy wealthy but he knew he was passing away and he was texting his friends. Make sure this money goes to this person. Make sure this thing goes. He didn't have a state plan. he didn't have a will. He didn't have a trust so when he passed the only living member of his family. That was the love is his sister. Now that's not a bad thing but the thing is prince used to give a lot of money to music and art programs because they saved him now all of that money and the state now belongs his sister. What if she doesn't wanna give them money towards music and art programs and they came to depend on prints for those music and art programs so now what what. What will they do so prince was financially free but he was not financially hole. And so what. I love about financial homeless is that everyone can achieve. Financial wholeness because the state plan for prints looks like a will beneficiaries attract. Looks all this fancy stuff but in the state plan for a preschool teacher. Tiffany when i was twenty two was putting my mother all my bank account as a beneficiary. That's plenty yeah so you see like financial homeless can grow with you. It's attainable by everybody. And anybody depending on where no matter where you are how much you make what you do for living by nature homeless adjust to you is just that it's still these ten things but based upon where were you on. Life is how these ten things show up for. You and. I'm so glad glad you talked about that. Because i know from from working with clients being a certified financial planner that people tend to think. Well i don't have enough for will. I don't have enough for life insurance or state plan about that later but all of us have stuff all of us have desires and wishes and we've accumulated stuff as as we've gotten older no matter what income we we have and so i think the idea of of reaching out a hand to people and saying financial wholeness is for all of us. It's not just for someone making a million dollars or whatever that number is that we think somehow is you know somebody who needs an estate plan in a will. We all need these things. We might need them at different stages. I love that. Because i think that that really then like i said it stretches that arm out to all of us.
"money" Discussed on Millennial Money
"Blew my mind when i read that. You've been a part of something like ten thousand money saving stories over the years so i thought you know you must have some really good tricks up your sleeve. Yeah you know. I think it's probably now. It's well over ten thousand money saving stories. I i think if i would've taken my advice along way i i'd be been really great shape. I definitely know how to save money. I just need to make sure. I always practice it. You and me both right. I have so many things. I wanna talk to you about but i love obviously talking about saving money and i find it this this thing that is always on all of our to do list but doesn't always feel like fun sometimes. It can really feel like a burden and i'm always trying to share with everyone listening to this show how they can look at saving and budgeting through just a different lens than the narrative. That's out there. But since you're the expert how can we start a process of finding joy in saving like what are we doing wrong. That makes this feel more like a burden and and You know how do we take that joy stage. Yeah i think you really hit the nail on the head for what we need to do to start saving money because when you look at it as drudgery when you look at it as something that you're having to having to do as as like a chore it's not going to happen and we need to look at it from a joyful lens A lens that gives us empowerment. And you know what i go back to. The the subtitle to my book is money lessons. I learned from my italian american father in twenty years as a consumer reporter and my father was you know lived through the great. He was part of the greatest generation. The generation that went through the depression went through war war two and.
"money" Discussed on Millennial Money
"Powerful it's about ninety percent of your money success maybe a little bit more when you really start to understand why do you think act him feel certain ways about money what are you caring from your childhood or from relationships that isn't serving you anymore that you can let go of. and. How do you really start to define what you want your life to look like how do you really start to dial into that vision because when you can walk into that? It makes all the other things that you can control. Easy to do like the goals they you said. What are some of your goals? What are some things you want to do before the end of the year? Even if it seems impossible, it's putting your mind in this in this framework of. Positioned on positive right. There's not enough positive things out there I don't think. So let's position your mind in a positive way even if everything feels like it's going against you. What are some of your money habits? What are you doing daily early monthly? That's really helping you propel forward and you don't have to be perfect in any of these things. There's there's there's no level of perfection. It's just each day. Are you waking up and are you trying to do a little something that moves you closer? And you know how has how is your investment accounts retirement account? How's that position? Those are things you actually can control you can't control whether it it. Does well, or does not do well, you can't really control those things, but you can control how well things are positioned how was your money set up? Those are things that are in your control. But. There's a lot you can control. And those are the frustrating things right. Let's be honest. Those are the things that are really get to me. So I'm hoping you're in that same boat elections how politics impact your money we can't control it. The best we can do is just get out and vote and try and use our voice..
"money" Discussed on Millennial Money
"Because Twenty twenty is unique unique year not only do we have a global pandemic but we also had a presidential election here in the US and not to mention a lot of countries around a lot of countries around the world are having. Big political things happen. So the year unlike any other year but traditionally..
"money" Discussed on Millennial Money
"It. Second I WANNA look at your money goals and think about what is your number one goal right now and how much money will it take to get you there? Then, look at how much you can raise your contribution past that match amount but still hit your other number one Michael Hope that makes sense. So just because money's going into your 401k it, it doesn't mean it isn't your cash. You're just directing it in a different way and you're getting a tax deduction for your contribution, which means you'll pay less in taxes, which is honestly always a good thing. So. I am a fan of going as high as you can with your 401k contributions without sacrificing your their money goals, and of course, without sacrificing the bills that you have to pay. But always try to go up at least to your match. Now if you don't have a match than just think about contributing what you can really challenge yourself to increase it by maybe one to two percent each year as your salary increases. So this is with anything I said this a million times but money is this gray area. These decisions are really in a great space so if you can save up. To your match fantastic because that's free money that you would otherwise be missing out on. So that's step. One step two is and thinking about how much more can you increase your contributions without sacrificing that number one money goal that you have? Can you find a happy medium some sort of balance there. So maybe you're doing a little bit of both and If, you can still hit your money goal maybe you go up to the Max in your 401k. I it's it's not going to hurt you to save more money I say this all the time nobody dies saying, oh my gosh I saved too much money. It's usually the reverse you're usually scratching around for some cash. So the more you can save the better off you're going to be so I hope that answered your question. If, you haven't asked Sean a question please don't feel shy every question is a great question. There are a lot of questions can take me quite a long time to get through them but please your questions, super important I want to help you and I want to help someone else. So go to the Lincoln, the show notes or straight over to our website M money podcast dot com.
"money" Discussed on Millennial Money
"Your previous questions was. Looking at the historic historical mindset that I think hold some people back. From building wealth is. I think one of the key points that from to money managers trying to make is the idea that economics is not zero sum anymore. Right. So no one has to lose for me to work save an ethic reinvest money. Does the core are poor despite my wealth, not because of it and building wealth now is more like going to the gym. Right just because I work out in Yoga or on a bike that doesn't prevent you from doing the same we can all encourage each other. Sheriff goals in in strive to build wealth for ourselves. Because our neither my physical fitness no. My wealth come at the expense of anyone else. And I think that was from me was A. Light Bulb. Went on like I'm not. You know if you WANNA be a good person? Hurting anybody by taking care of your financial life. In fact, that's GonNa give you the tools in power to really have a more impactful difference impactful difference on the world around you for sure. Yeah. And you've had such a diverse spanning penny different careers. But if you went back and could tell your thirty year old something south some wisdom about money in life what would you say? Well, that's a great question because I think. My Book for Monk Money Manager is really kind of a love letter to myself twenty, five thirty years ago. If I could have just given myself this wisdom back then I be a lot wealthier than I am now right now and I would have saved myself a tremendous amount of pain the way. To my younger self I would gosh there's so many things I would tell myself but. I think for me, it was going back to what you said earlier about that mindset around building wealth. Is. It's almost like. Money. Monster that just lurks over you and to realize it's.
"money" Discussed on Millennial Money
"Sleep better and have better motivation to work out and eat in and all those sorts of things like all those things really do matter. So after my experiment I can tell you that I noticed a difference in our quality of life and this is interest s I'm not making this up it really did happen. And our bank account when we started upgrade, these is where we spent most of our time. It's weird. It's like we actually found more money to do this stuff. We were more proactive in how we were spending our money wasn't that we were necessarily bringing a lot more money was just I think the conscious awareness of what we were trying to do. But it's the ongoing and something that we didn't do over just one month that happened over a course of many months so. Lastly, I just want to say this is all about balance, and if you keep that front of mind in terms of your money, you're gonNA save yourself a lot of stress and hopefully really reduce the pressure to be perfect. Because the pressure to be perfect. My friend is so sorely overrated. I don't even want you to buy into it. I just want you to think about balance. Hey thank you so much for listening to today's episode remember to subscribe to the podcast. It's absolutely free and you'll make sure you never miss an episode of Millennium Money. You can also listen to all our episodes on spotify Google play I tunes, Stitcher, and Pandora. Hey you. Yes you before you go we want to say thanks for listening to this episode of.
"money" Discussed on Millennial Money
"Shawna. Money Expert Indiana. And Burger Aficionado. The balance is one of my very favorite money sites around and I look at a lot of money sites, so it's always hard for me to pick a favorite, but they are at the top of the list. And I'm just a big fan of their straightforward advice I love they've got this thing. Called the money snapshot on their homepage. That gives you a few tips about what's going on in money right now. Like the average credit card interest rates. You can see how your cards stack up, which is really important if you've never done that before. So speaking of credit cards. There are a lot of strong. Opinions about. Credit score and credit cards. If you've listened to the show long enough, you know that I am actually a big fan of credit cards. If you can use them in a smart way, and what I mean by that is, you can get the rewards, but pay them off in full each month, if not. Then I want you to step back and work on your mindset around credit in credit cards I. Now. We're in a different time and that might mean. You need to pull your credit card out a little bit more than you'd like to. And if that's the case, I I just want you to know that you're not alone and second. It's okay there's no shame right now in using credit cards. There's no shame right now. If your credit score drops a little, it's okay, and it's going to be okay. So Lauren is going to share a ton of great money. Advice in tips in this episode including two of the important components that make up your credit score what to do with your credit cards right now and why you should give yourself a little break around money. We were talking just before we hit the record button about. Just the craziness of the time we're in your on the opposite coast of of myself, and we're all trying to find words to kind of encapsulate this time that we're in, and we're all kind of struggling for some of those words. And I am curious over at a balance I'm sure that there have been some questions that have come up from from readers. People are really unsure of what to think in this time especially with it. When it comes to their money, some curious, are there any any common questions that you've been fielding over there that just keep coming up. Yes, definitely a lot of common question, so you can expect a lot of the really similar ones that you've been hearing out into the world about something new that you've never heard before so a lot around. You know PP loans and. And stimulus checks, and specific unemployment rates and sort of benefit that people are able to apply for so those are all things that are kind of new, but you would expect everyone to be dealing with, because they are so of the moment. I think a lot of the things that we're interested in is more of the not more of interested in, but. All of the things that are really commonplace almost things that you. Should have known her wish someone had taught you when you were much younger about personal finance, because all of these things are really coming to the top lake, bubbling to the top of what people need to figure out so a lot of the things that I'm sure we'll talk about you. Know what you do with your stimulus checks, or you know what how do I cover? Certain expenses are all really going back to the foundation of you know budgeting basics and investing basics, and you know. How do you manage refinancing your mortgages? Your student.
"money" Discussed on Planet Money
"For. You. This is Janie Charles. And this is a video for getting handcuffed by a security officer kind of dancing and making fun of him. It's from February but if found its way to music producer. Just turn unique. Was Song dancing into an actual songs that you can really download? June third red around when people started protesting the killing of George, Floyd by the police, and the song became Kinda Lake an anthem for the movement and people who saw this heard the song they did. What a lot of people have been doing right now. They tried to find out how they can get Geneva. Some real money like send money directly to her, and she has now gotten almost fifty five thousand dollars on. Go Fund me and Geneva says these donations like changed her life. She had been struggling with homelessness and Addiction Geneva story is just one example of how are trying. Trying to give money to support causes lake, racial injustice in policing for example George Floyd's go find me. It has received the most individual donations in go fund me history than four hundred and eighty thousand donations from one hundred and forty plus countries over fourteen million dollars as of today for teen, million and the justice for beyond the Taylor, go fund me is just under six million dollars, and the sheer amount of money being donated all over the place right now is a statement in itself, but some organizations are saying even we don't know how to handle all of this money. And Welcome. I'm Sarah. I'm James Need James used to be our intern. He's now one of our producers and you'll be back in a bit. During all the social unrest, people want to get involved in the conversation and the anger and the sadness around racism and policing, and for many getting involved means. Where can I donate? And where should I buy from sedan? The show where the money should and shouldn't go from corporations, black lives matter to donations defunding the police and reparations. Support for this podcast and the following message come from each raid. Trading isn't for everyone, but each rate is whether it's saving for a rainy day or your retirement. Each rate has you covered? They can help you. Check financial goals off your list, and with a team of professionals. Giving you support when you need it, you can be confident that your money is.
"money" Discussed on Marketing Management and Money
"Welcome back yet. Another episode of Marketing Management and Money I am your host Ryan Murray and I'm your host. Ryan Owens so last week we were getting into a rebuilding Your Business after you've gone through any sort of serious catastrophe calamity, those kinds of things, and at the end of the episode we started talking a lot about the belief system of money how money can expand and contract with without the actual dollar amount or I mean I guess wherever you are listening. Maybe you don't go by dollars. May maybe you have her? Back. But with without the actual currency, changing the amount of money can can fluctuate, and we talked about some some belief systems that cause that we gave the example of how if you know you loan me one hundred dollars then in your mind, you think you've got one hundred dollars, but I also feel like I've got one hundred dollars because you know I now have the money, but you have a an Iou and so it it it it kind of doubles and. And were overly simplifying the actual economics of that because that's not what we're going into or not. This is not a course on economic. This isn't helping you as a business. Understand what you can do to be her. Engage your customers, so they have confidence to buy you know so there. There's a lot of selling strategy that goes behind the belief of money. There's also some management principles that go into this belief because as a business. Wendy you wendy you invest in grow. Wendy you hold back. And History has shown us that oftentimes it's going against the grain that has created the biggest winners when everyone else's is holding back in there hiding under their rock, weathering out the storm and you're out. You know waving your flag. Then that's that's when success happens, or that's when a tidal wave comes in completely knocks you flat in and you learn some. Some really really important lessons. So you know, let's Let's talk about the belief of money and and how to use this as an entrepreneur to be more successful..
"money" Discussed on Millennial Money
"And really make mindful choices. I want you to really hear that I worked with people who had one hundred million dollars in assets all the way down to people just starting out and you know what the X. Factor is across the board you guessed it it's their mindset and I have struggled with this myself for years so I came up with the system the one that's in the money mindset journal and it is been the most powerful thing for be but I want you to how easy it is to manage your money to set intentional goals and move from that scarcity mindset to abundance so I hope you enjoy this interview where I'm in the hot seat talking about all things money mindset. Alright SHAWNA INQUIRING MINDS. WanNa know you've come out with this? Amazing Money Mindset Journal and I think we all WanNa know what is it right. That's probably a pretty good question right. Let's start with what is it so it is. I mean in the simplistic form. It is a six month journal to help you get your money shit together. Basically and need yes and the idea behind it is that we typically think of money like spreadsheets and calculators. And things like that. That feel they feel almost unapproachable to us and so the idea behind the journal is really a simple practice that you do every day. A simple way to track your cash every month and then paired with some mindset. Mindfulness to really help you understand why you think acting feel certain ways about money. Because I think we don't ever really stop to think about. That's so it's it's a real well rounded journal. I've not seen anything like it before. In fact I started this process myself a few years ago just in like a regular plane journal and I thought you at this is actually like this is a product and this actually could help a lot of people because it was something that I was really struggling with my solve. So it's just a real easy way to stay focused on goals and stay focused on money and keep yourself moving forward. Okay okay that makes sense because I know I mean I don't even balance my checkbook anymore in the age of everything being online so yeah I think having a journal next to your bed something that you can actually see. I know that I'm a visual learner. Right so let me ask you this though why do you think that your mindset? Has Everything do with your financial success? It's such a good question and I had sort of developed this over years and years when I was a practice financial planner and working with people and I would watch them. Lake struggle over and over and over again and it didn't matter how much money they made or didn't make or what their age was or career and none of that mattered but I would watch them struggle over and over and over again trying to achieve fill in the blank whatever. Their particular goal was whether it was payoff. Dead or start a business or buy a house. I mean you name it..
"money" Discussed on Motley Money
"Hi I'm league whistler. Welcome to model money. Thanks for taking a few minutes to be with me. Molly describes money is so many different things in our lives for many. It's a source of worry and dread experience shows that a solid foundation for managing money is the best way to eliminate money worries staying focused on fundamentals on getting results. I'll lay out the keys. That will get you positive results with money as an effective manager. You may not know. I was an independent financial planner for more than thirty years in Santa Barbara California. In addition to financial products and services my specialty was money management for people in complicated situations. I love making the complex issue to understand explaining what is complex and simple useful terms accountants. Where my number one source of clients? They referred their best clients to me for advice and assistance in the process. I became a pioneer in programs. Like debt cancellation 401k. Plans and asset allocation approach to computer assisted investing. You know that there is very little taught about finance in our kindergarten to twelve schools as an adult education instructor. I can help. I'll tell you stories and offer insights from my thousands of hours working with people just like you. Who needed solid information? You can take advantage of all this information. Knowledge by choosing to be a subscriber to these episodes accountants and financial focuses will find thoughts and ideas here that they can use an advising their clients. Whether you want to build a financial fortress are just get out of debt. The keys are the same. I taught these keys. As an adult education instructor of money management and retirement planning courses. You can use them as tools to build a solid foundation for managing money as a subscriber. You'll receive notice of every new post as each one arrives opened it and listen to it take those that will help you right away and put them into use. Save others for later when you'll need them subscribe to get all of them. Please join me. Click to subscribe now..
"money" Discussed on Marketing Management and Money
"And and there's a little bit of psychology that goes on that this person is now you know they're they're they're still motivated. They're feeling appreciated as opposed to. Here's your raise. Oh that's what you think of me and you know just or Oh. I got it thanks. Yeah yeah well. I got what I wanted this. Let me think there's another option or another aspect to it that that can be taken advantage of to that. I've seen work really well. Is it also gives you an opportunity to to let them know that you're on their side and you could say you know like you said I know you're worth more. This is what we can do. But I'M GONNA keep fighting for you. Essentially yeah right and if you have that plan in place to to update their salary or or whatever often and in small doses like you're saying it shows that writing reinforces that relationship and hopefully with that again to the psychology aspect of hopefully it'll solidify that that level of performance or even improve it. Yeah what I mean. So here's another thing and we kind of started off this way and this is the last thing I want to wrap up with. But is this whole idea that if most people if if most people aren't motivated motivated by money like money doesn't buy happiness once you hit a certain level if I'm already meeting all of my needs and you come to me and say okay. Here's another raise at some point. It's got this diminishing return Oh for sure and you know there are so many ways that you can reward employees and make it more meaningful to them. You Know I. I think of things like I've seen people where they have given. You know extra days off I comp days right if you know if someone is thinking of themselves man I just work and work and work and work and it's like hey you know Instead of a bonus I'm gonNA give you an extra three days off and you know now you have some some time to go be with your family and rejuvenate and oftentimes. It's more affordable to the company. Yeah the employee comes back more refreshed right. You know you can do flex. Schedules work from home options. You know you. Can you can put together so many different ideas. That aren't just money. Oh yeah you know I I had one guy that When I was going to college and I was. Kinda WORKING. My way through school My supervisor Always take us out to the movies and we gotta do it on the clock. And I'm like you know what honestly so he's paying for the Movie Ticket Popcorn and a soda and he's doing this for his department. So okay a hundred bucks there. And then we didn't have to clock out and so three hundred dollars right three hundred bucks once a quarter to get his whole department thinking. This is awesome. Yeah right exactly. Wow at three hundred bikes. Think about a raise. If you came to someone and be like I'm going to increase your you know your annual salary to buy three hundred dollars like what be. That's five cents an hour. Thanks man I think that there's more to it than just the money at that point if you can generate ideas that are meaningful to your employees because I mean honestly. This is going to vary so widely and drastically between different companies in different positions within that company. You know what I mean like sales people are gonNA react differently to certain bonuses than Your Accounting Team. Show her or whatever and so it's like it. You can take the time to figure out what is meaningful for those teams those members of those teams than yes. I mean there's so much more value that you get out of. Every one of those dollars that you spend just because of that ability to build the morale. Yeah and I think that's huge like so it goes a long way for people and I know you. I know you've seen this one. What happens when the owner wants to build morale? And they force. It's the forced fun. Oh yeah yeah well honestly when you were talking about the movie theater thing I was like. Oh Gosh I'll see see. I loved it. But you're saying that you would. Yeah I'm totally. I'm way more introverted. And I don't WANNA go hang out with everybody in my department like I mean I'll be friendly and stuff in the office but my idea of good time or something. That's going to refill. My bucket isn't going and hanging out watching a movie with these people right. Sure and so and there are a lot of people that they're like. I've just spent every day this week with you. I don't want to spend the weekend exactly and so I mean I've had a I had an employer wants where we went down to a trade show and I was rewarded with Some extra time down at this trade show and they paid for some some kind of side bonus things they did. You're making this sound shady. I don't WanNa be like trying to be professional and whatnot. Dis- not disclose embarrass or whatever. You've made fun of for it. Jeeze for being political no so we went down to this trade show. The employer paid for a couple of extra days in the hotel and meals and a couple of fun things to do and so my family was able to come down for that as well for me. That was excellent. I love that. Yeah and the only way you're gonNA find this out is to actually get to know your employees. Yeah you gotta ask him because some people they're they're going to be like dude Save all your money that you would have spent on that and just give it to me. Yeah just cut me a check for whatever you would have spent on those hotels and meals and I'll just take the money you know and other people that doesn't drive them at all and make you know your place I've see hall to. I've seen all too often where a small business owner thinks that they know their employees well enough to get them something. Do something for them and it still that. Oh who? That's that's hard that's really hard. I mean maybe just at least run it by him but like hey. I'm looking at doing this for you. What do you think? And I don't think there's anything wrong with flat out going to sell one and saying would you prefer that we do accompany activity or would you prefer bonus. Yeah just flat out asked him and I you know every time I have done that or seen. It done the employees of appreciated it for sure. I'll go yeah. Then they get to pick what they want right. You know so so Money's a funny thing and there's There's a lot of goofy things that have happened in the name of money. So if you've had a funny experience with money please share it with us. We'd love to hear kind of Some of the things that you've done right or even some of the things that you kinda screwed up on and share that with With us we'd love to hear from you we are on twitter at M M M small Biz. That's B. I Z. Or you can check us out. Online marketing management money dot com thanks guys..
"money" Discussed on Slate Money
"You think their opponents like your terrible fashion icon like wasting their money blah blah blah but if somebody buys a lake kind of over the top like vacation vacation or kind of over the top bottle of wine you don't think they're as much of a jerk as if they spend their money on the material possessions and it also if you spend it on say a good experience and you could talk about that bottle of wine like if you told me like. Oh man to try this really great bottle wine. It was fruity. I went on this cool vacation. I saw this stuff. If you're like my Canada Goose Jack is so soft on it like you just sound like a jerk. No one wants to talk to you and so experience is also connect us socially in a way that material goods dome. Is there any evidence that expensive vacations make us servant you vacations. It's more just experience of it right so I think if you can get as good of an experience for cheap Kanu this question I think so I think if you're mindful control and paying attention you need the money last night all last night my husband and I walked down to the Talian village and they have some big festival and we just kind of watch each crazy people and ate fried food and that costs us like you know twelve bucks New York money and the house pretty fantastic. I don't know it's Posher New York vacation. Money doesn't make you happy but if you happen to have the money and you WANNA be happy spending on experiences not by time and by yourself some time the third thing in which again most people don't like is giveaway. If you have a lot of money. Why would I give it to you as we'll see like after the podcast I'm going to get flamed on twitter was was like who's that yielded told us to give our money away no no but the research on giving money away so controlled for income level people who give more to charity are happier and controlled for for kind of income level which is not great people who spend more of their time volunteering are happier but that's just correlation all. There's also lovely experimental work on this where you force people to give money away and you see if it makes them happy. This is some work by a professor lives done and so. She gives people money on the street. She's like here's twenty bucks and she says spend it on yourself or spend it on somebody else. By the end of the day and then she calls them at the end of the day at the end of the week and asks who's happier and everyone predicts that the person who spends on themselves will be happier because like Dutch treat yourself you get something but it turns out at the end of the day at the end of the week. People who give it away are happier which is not what we predict. You and I'm having a crappy day at work. I'm not like and I'm thinking like I'm going to get a massage is. I'm going to get married here. I'm not like I'm just GONNA give some random person on the street massage or but actually the data suggests that would be better. I have to say that you know we. We have occasional philanthropy special issues and stuff here on say money we we're kind of into this idea and I just my personal experience. I'm with you on this one. It makes you feel really good. I do have this sort of idiosyncratic idea that number one charity makes you feel. Oh better than philanthropy that giving money to a person so you help help a poor person directly makes you feel better than like doing some strategic strategic thing to probably make the world a better place in some way yeah. We kinda like it when we see see the goods you know what I mean like. I bet you don't need the same money to kind of some good flint. Bidding for many of us won't feel as good as like you. Just do something nice for physical person. That's there who you see like them to brighten up when they get the free coffee for your free manicure or something like that money to your friends who need it. It's it's actually just as effective in certainly in a selfish way. It makes you feel really good in a way that like giving giving money to the Red Cross. It feels weird but I also need to ask you. You know you're Yale. Does this also work for just like if you add an extra drop to the thirteen billion dollar Yale endowment this that makes them feel in theory. I mean again you know. I'm sure you all would love to exact donors and stuff like that. Yeah I mean I think I think especially if it gets connected to real people's feelings so some universities including Yale are doing this thing where they have the folks who get financial financial aid or get kind of summer fellowship money or something say what they did with it right back to the pros and be like hey. Thanks so much for that five thousand bucks. I was able to go to Bhutan and study the school. You know thing. I was interested in. Thank you like when you get that letter. It can be incredibly powerful right because now you're like. I see the recipient. This is not some nebulous thing. This is a person who got to do this thing they wouldn't have otherwise gone to do and that feels nice more nice than we expect right and the other thing just having this conversation a couple of weeks ago a friend of mine who was like and she's if I needed money she asked and so like would you get we lend me the money and we all kind of said the same thing because you know if you needed money would give you the money but we would never lend you the money because then you the money is just a miserable thing which makes us all so much less happy. Yeah usery used to be listen we kind of lost that it was a bad thing before so as Andrew Yang GonNa make America happier if he becomes elected president and is able to give everyone one thousand dollars a month. I I mean again. I think if everybody you know I think we should scale it to those who really there are a lot of people in the US who need a thousand dollars a month to put them at that seventy five okay back. Most Americans need that to seventy five and I think that really will decrease people stress and increase people's happiness. Did you know that over eighty percent of dollars went to all-male founding teams last year. Goldman Sachs is working to change this because they know that investing acting in women is smart business. That's the idea behind launch with..
"money" Discussed on Slate Money
"It definitely not relevant toady relevant this. I need ask you about a fictional character Rachel and your birth back she ends what like three million dollars he is about that before for and what does that do to sort of it get mental happiness. It doesn't change her happiness at all it gets her closer to her goals and the thing that happens to her happens to her because she is erased from the record of Motherhood Relevance by her husband because she's she's earning money it hasn't it doesn't really have that but that that said. I don't think money is going to make her happy. She was already kind of wealthy. Why why does she feel the need to make so much money because she lives on the upper east side and she doesn't want ought to be. She doesn't want her kids to be the poorest people they know the way she was the poorest person she knew. Is it true it's a symptom of of being raised in an area where you are the person who has more money than most of the people on Earth and less money than everyone everyone you now. Is it true that as one person I know who had the book said that most if not all of the problems in this book could have been solved if they just moved to Brooklyn. I would like that person to say it to my face. She makes her husband much more much more than her husband. Already earns a lot of money being a doctor but everyone's in finance now okay. How taffy thank you for being here. Yeah was it in my face slate. Money is brought to you by First Republic Bank. Business owners know that the key to success is to make sure their customers are well taken care of First Republic Bank understands just how important this is and that's why the first republic team goes above and beyond to ensure that its business banking.
"money" Discussed on Slate Money
"Your guide to the the business and finance news of the week. I'm feel examine of axios. I'm joined by Emily Peck of the Post Post. We joined in the studio by Larry Santos. You are the most popular professor at Yale University. I mean you really are yes by the numbers yes and we'll have a whole sleepless segment just talking about the crazy that is education in America right now. The mainly what we're GonNa do is talk to you about the connection between money and happiness and whether direction the causality runs. We're going to talk talk about wine because it's my show and we'll talk about why we're GonNa talk about experiences and I think to kick us off. We're going to talk to Taffy acne about whether it happened. This is even something which we should be wanting in the first place all that coming up on slate money slate money is sponsored this week by Sam Adams every full Sam Adams gears up and bruised that very first batch of October fest beer. This full is no different. It's back and everything you love about full in one sip. It's multi. It's smooth mood list clemmie deep red amber and as just enough flight from the hawks to keep it from being sweet. It's a great. BSO Savor this season the full favorite Sam Adams octoberfest Sam Adams octoberfest get it while it's here the Boston Beer Company Boston Massachusetts assist savor the flavor responsibly. We're we're going to take advantage of the presence of Taffy Broda Agnew in this studio to explain her theory theory about why you shouldn't want to be happy. It's it's not that I don't want to be happy. It's that it is not the end goal. It is more of an like an off shoot shoot of the other things that I aspire for a spire too. I have real like calvinism in me that is about hard work and satisfaction faction but the feeling of happiness is not is not my favorite feeling was favorite feeling I really I sometimes a really we love sadness and I am wild for anxiety. I am like I would snort anxiety through my nose. If I could and I hear you can but I've never done that so is counterpoint. Laureate is actually a good idea to aspire to arguments. I think it depends on what you mean. I think we're actually a law in agreement here. Because if you're the kind of person who's just actively seeking happiness like I want positive mood all the time then then you're almost like destined not positive mood at all because what the research shows is that happiness comes from being other oriented worrying about other people's happiness worrying about things that give meaning wing that are much bigger than yourself right and so ultimately like the people who are seeking it by just kind of boosting their own happiness like pollyanna smile smile. They're doing it the wrong way and they're kind of knocking comanche so you've actually found the secret to happiness by being so disparaging of happiness because like yeah. I've heard that anxiety one I mean I really I like love all of the emotions except flatness. I hate flatness. That's the thing that I can't tolerate but what I see. I seek things that make me cry. I Like I love it. I like if an episode of something was supposed to make me cry and didn't didn't like I I saw deer. Evan Hansen and everyone around me was crying and I was so angry. Why can't I get there. Does awful no one. I think this is the the thing that I mean people love scary. Movies like people love incredibly sad movies. the scary thing. I I really don't like being afraid it's like one of my least favorite emotions shins and so I find it completely fascinating when all these people go to haunted houses. There's wonderful around Halloween time they do screen shots of people in the middle of haunted houses and they're making these phases. They're like you know they. They don't look like they're experiencing positive emotion and yet they're paying fifty bucks apologies if they're doing there. I think it's that we like a wide range of emotions right. We and we sometimes times like things that don't feel good in the moment because it gives us something else you know. Hot Chili peppers like pleasure often comes from things that don't feel good and I think that's a disconnect in some by the happiness work. It's not all about positive emotion in positive mood. Sometimes it's about something bigger than that. You know I made it through that Chili pepper and I kind of feel proud and I can get a bigger bigger. Chili pepper later like those are the kinds of things that resonate with the human experience and I agree that you know the people who do work in the positive psychology space are people with a nuanced understanding of the word happiness and and how it translates into into the world but I think so much of seeking happiness happiness is about avoiding other emotions and I don't like and what happens when you get there like what good did you did. You contribute to the world like what so. I feel like that's like the Immanuel Kant sort of view of happiness right. which is that you you shouldn't aspire to be happy? You should aspire to deserve happiness yeah and if happiness never comes the satisfaction of deserving it is a is a good thing. I'll you know I'm kind of a grim person. I'm like cheerful but but again you can have there's there's associations between like being a grim person positive mood and all that stuff and the other side of happiness which like social science nerdy social scientists call this the cognitive part of happiness which is like. Are You satisfied with your life. Do you have meaning. It's it's really the answer to the question. All Things considered how satisfied are you you with your life right and that can dissociate completely from. Did you smile today. Did you laugh today you know. Were you experiencing super. Happy Positive Moon and I think you know the happiness research just trying to maximize both of them to a certain extent because you know it's nice when they go together for the people who are kind of into happy mood and sort of thing but I love your point about people who are avoided of emotions ends because that's a real surefire way to increase unhappiness in fact one of our whole podcast episodes is about what happens when you try not to feel a bad mood is that then it comes back with a vengeance science suggests so taffy you on the record as wanting to be richer than you are. I guess I'm on the record anywhere. That will have me record for that so if it's not to be happy. Why do you want to be richer for it to be easier so I could work less hard and still do the things that just say that like the whole night. Working hard is what makes us working hard makes me happy arranging babysitting so that I it could work hard makes me miserable like having to be responsible for the house cleaning and the Bills Happiness podcasts that does not come with a babysitter for a little useless. I I can't wait here. So is that like a better reason to want to be rich l. a little bit. I think one of the reasons that money doesn't make people happy. They're making very funny face at each other. One of the reasons that money doesn't make people happy as we tend to spend it the wrong way but a good way to spend it is exactly exactly what you're saying is as strong way to spend money to achieve happiness is to use money to buy time to get rid of time famine right so if you can hire a babysitter so you can go out and do this stuff if you need or you can hire a house cleaner to Kinda get rid of the Yucky stuff so you can get on with your it on with your life more power to you and in fact there's research that shows that people who make time-saving ving purchases with their money are actually happier but also the money the all this money studies come from people who won the lottery which is like a traumatic event. No no one has ever been able to produce for me the person who was given a hundred thousand extra dollars a year to see how it goes for them. I would like the happiness I believe. It was a recent actually just in the news recently. There was a wonderful bank error on this where a couple of bank accidentally gave a couple an extra. I think it was like one hundred thousand one hundred twenty thousand dollars and then they just didn't anything and they spent it and it. They claim that it actually didn't make them happy as they thought I think you'll elsa. They're terrible. I mean as a social scientist. I would love to see this experiment. You know we have to work with what we have but I'm just saying someone should take one of those grants and give it to a person likes me even yes. I'm volunteering. I'm hearing all L. Foundation she right now no but there are studies as with folks who just happened to naturally be rich or came into money through their jobs and stuff like that and what you find with them is again it surprising to those of us that don't have a lot of money but they self report and not being happy either and there's a couple of funny things that come with like really high wealth one is that they're incredibly guilty a lot of the time because they're not happy and they think doc everybody else wants to be rich like me and I'm rich what's going on but the other thing is that they stay out really struggle with social relationships which I find interesting like it's really hard to meet new. People people and to get a sense of like these people want to hang out with me because of me as opposed to these people want my money in one of the podcast episodes I interview Sky Klay Cockrel. WHO's a psychotherapist to the rich which though a superwealthy so all his clients earn more than fifty million dollars a year and what he finds is that you know he gets a lot of them because they're miserable but the number one thing they report is like not being able to make friends friends like he tells the story of one client who went to the gym like joined a kind of crappy gym till I meet people and talk to them and he couldn't have a conversation with them because he's like? What did you do this weekend. I took my wife to a new restaurant and the rich guys like I flew to Paris to try a new wine. My vineyard and it's like you just can't connect normal people counterpoint the people bolt who earned more than fifty million dollars a year have something crazy going on in their heads that make them have Bevy of other symptoms of being antisocial 'cause the amount of people. You have to walk over to make even half of that five minutes. Yeah I mean I mean there is an idea that people at the top of any pyramid are sociopaths so there's also so something interesting because I listened to one episode of Your podcast or the the psychiatrist to the ranch was on and there is also something you were saying about sort of you reach a set point Winco like maybe you're poor and then come into a lot of money and and for the first little bit your lakes super excited because Your Life Scott so much easier but then you get used to do it wherever you go there you are to be where I am with more money controversial so taffy this podcast before from this podcast because we are going to lose you in one minute..