Friday Flight - Fortunate Flyers, Upgrade Underwhelm, & Feckless Finfluencers #903
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Two thousand four next car cup series championship was one in dragged tic fashion.

where they changed right side tires. Only the entire wheel came off.

But what happened through the years, what makes IT of nars biggest season here, are all the stories on next car life presents two thousand and four chasing history. But he climbed on the box and someone .

came over and got a hold to him. And then IT was on .

this ci presents two thousand four chasing history. Listen today in the I heart radio or on your favorite pocket platform.

Welcome too. Had the money. I'm joel. I'm mat. And today we're talking about upgrade underwhelm fortunate fires and fecal influencers.

Know fact, less is not a word I think i've ever used before. A job that I want to start incorporating .

IT into my dad day speech. I'm trying to grow my vocabulary.

I like IT. Let's just talk about vocabulary because there's nothing else to talk about. Nothing happened this week. It's been a slow new cycle. We congrats to republicans out there and to the democrats there.

And I say that because we're not trying to I don't know, I would feel weird to completely ignore the election degree. Yeah, we have to were not put our head in the scene and completely ignoring the fact that I mean, IT was like it's like the super moon that comes to help. It's not the super boal joke because that IT happens every year. It's the olympics that just happened here in the us.

But it's also true that our arliss's to to the show because they they get political analysis anywhere. And so I think how the money is here um ah we want to acknowledge what happened. And then he does have economic and reference and IT also has reference for a little bunch of other things.

But whether is good or bad, we don't know. Ah right. And so like for instance, the market me popped off over two percent on election day um or not on election day, I guess the day after her right um as the results came in. And what I don't want folks to do is have to take away and say themselves, oh uh, the market only goes up when there's a republican president. But that's not the case without one folks to consider politics when IT comes to how IT is that they should be dollar cost averaging into the market.

We talked about that in the months leading up to the election, kind of how you look at charts of what happens, how the stock market performs under different administrations. And the truth is, whether it's blue or red, american economy continues to hum along, whether it's under blue or red leadership. And so the thing for all had the money listeners to take away. I get that you probably have a politician you supported or a political tema line more. But don't let that impact how you think about investing in your continuation essentially of the investing journey that you know.

I will say I think a part of the reason why the market did so well the day after, it's just because of the fact that there was a decisive outcome yeah to the election because .

I have predictions that would have taken a lot of time yeah come to conclusion.

And I think everybody sort of saw that is like the worst cases. Arii, who wanted months of a contested election dragging on like that is the absolute worst case. Neo, no, like we don't like uncertainty. And further to be something certain, whether not it's good or bad, according to your political leanings.

The fact that there is like a no known sort of thing that's going to happen now, I think that is sort of what maybe put the market that is or maybe has people feeling like, oh, things there are so much Better than they used to be, well, that things are the same right now. But what is known is that the U. S. Government isn't in some weird limbo parga ory.

I think, I mean, that is economics. One to one is that uncertainty is a killer for businesses, is a killer for markets. And so yeah, I think certainty is probably a big part of what the marker was reacting to at the tail into this week.

But let's move on math. Let's get to more more practical personal to Normally about um and and let's actually talk about a new study that I saw this week. I found IT said I found that two thirds of folks think they're really great with money um and I just that was really interesting because is that we just lacking self awareness in this country.

Do people really think to do sixty six percent of people really think i'm awesome with money? This is, look how great I am. This USA today survey, I found that like a big chunk of americans, they self report as making well in foreign ancient decision. So if you're asked them to like i'm pretty awesome this money thing, confident that they know what they are doing.

But the question is, should they be because, like all the other data we've seen over the years, the things that you and I think about fairly regularly, right, including the number of folks, even those making one hundred thousand box or one hundred and fifty thousand dollars a year, making a significant income, A A huge chunk of those people are living paycheck to paycheck. I don't know. That makes me think that this might be a doubt of overconfidence that the american people are struggling with in later on in the survey, at the kind of blinking red light that stuck out to me was that we find that more than half of the people who responded to the survey admit that they don't .

have an emergency fund. These numbers don't add up yeah the overconfidence in conjunction with the fact that they don't have money in the bank.

It's like if I if I say, hey, are you great with money and you say yes and then I say, how do you have a solid and you say what's an emergency feel like.

oh, I am good at spending my money. Is that what you mean? Yeah.

exactly. IT makes me think like they didn't understand the question or they assume that they're Better with money than they are. And so I think this is part of the reason too much you and I why we do. We do I think the financial system can feel and can be at times overly complicated. And we want to break down topics so that people can understand and have the confidence to make real sustainable changes in how they handle money like we we want them to actually be good with money and not just think they are.

I think I get what you're saying as far as I seem like it's overly complicated and IT is overly complicated in some areas, right? Like when IT comes a tax law.

but like the basic even the merit of investment accounts that we have options and the and I totally .

get that to put like what you pointed to was the fact that like people don't didn't have money in the bank. And we're talking about basic building blocks like people can get past like level one yeah, which you literally comes down to. Spending less than you make and having enough on hand to be able to invest like that is like literally the cheap code.

And so I think a part of what we do here on the show is just finding different ways to say that as we try to cut through just all the all the noise out there. So well, yes, especially as you get more, more money, how old is you invest that ways to optimize your personal finance? I think IT certainly can get complex, but I don't want that ora of complexity to be a crush for a lot of folks who truly just need to spend the less other money yeah .

in the most basic decisions. I think what you're getting at are really the big middle drivers for people, and it's not rockets. I need to figure some of that .

stuff total totally. So on a related note, new data finds that conscientious ously and evidently other non cognitive determent that they influences our money behaviour and how much people save is really interesting that there's these soft skills have a big impact. And one of the other factors that they mentioned was great. We did a whole episode on great back in the day.

So we live in the south. So we're .

not great. My grit, I mean, we're such a online culture. Everyone knows what grits are, right? Like I remember as my my dad grip p in midwest, in the first time he had great, he thought I was cream of the, he was put like syrup on his grades and whatever else I guess that you put on cream of wheat, which i'm not even sure what cream of weed is because I grew up in the sale. Yeah, yeah.

I'm not actually from the south even though I ve lived your most my life. So I don't really do, do you not like this? They are okay.

but I don't really up for them to do. We Grace with a couple fridays on top of the over. So good. But that's that what we're talking about. We are talking about grit and IT sounds like that being more conscious ancient, what IT means that you are more self aware and that self awareness leads to saving more money and thinking more about the long term.

Meaning there's like a kind of a knocked on effect here, but meaning that there is a greater propensity for you to invest in the stock market and free to plan for retirement. So no, just listen to to how the money in order to bet your finances is just a good idea to to grow your grip and other character skills as well. I think it's worth aiming to grow in other areas in life that are honestly completely unrelated to your finances. I think it'll still have a pretty big impact on your overall wealth building journey, not to mention just you as a as a well .

rated human being. Yeah, he gets back to of what you saying that yeah, some of those rules can be complex and you can focus super hard on figuring out all the mitigation details of how every single facet of each retirement account works. Or you can work on kind of growing some of those soft skills about yourself, growing and grip, becoming more resilient. And those things are actually going to help you become a Better investor, even if you don't maybe know exactly how to tap your traditional ira early, if you're aiming for fire or something like that.

And isn't what we really want from our politicians anyway, more well rounded human beings, individuals who are less focused .

on like one specific detail. I actually politicians I know back to the politics is just leave IT. Let's talk about tvs.

Math tvs are getting a lot bigger and simultaneously cheaper. So talk a lot about inflation. And the last four years, we've seen experiences a lot of inflation in our lives.

But if you're in the market for a TV this all day 期， you actually experience ing the opposite, which is good news. And so black friday, and presumably those are typically the best time to get a good deal on a television. We're going to see the lowest Prices typically of the entire year in the months of november and january.

But americans are actually ah they're gravity towards larger television sets, sixty five inches an't cut in any more mat, fifty five inches. That's so like twenty twelve people now want the ninety seven inch plus screens. I figure what they called. There's like this category now .

like the mega ze .

t like four years ago on black friday, but it's kind of fast to see even in this category, Prices are dropping like a rocket. Literally, Prices fell by more than fifty percent over the course of a single year on these big screen televisions. A ninety eight eight samsung TV mat was one hundred thousand dollars four years ago. Now it's four thousand dollars.

which is that more than fifty percent?

That's way more than fifty percent. That particular? Yes, which is just incredible. And so one is cool to see how how these things work and how technological progress.

And a lot of competition can actually lead to lower Prices in some segments of the marketplace. That's really cool. But I also want to say this. I want to caution people out there who are listening. Despite these massive Price drops, think twice before upgrading. Do you actually need a bigger TV? Because four thousand box is still a lot of money to drop our vision and said it's cool to see the Prices of dropping, but don't make that think that you need be gotten by one tomorrow because guess what, there are going be cheaper .

the day after more are typically do. That is true. okay. Some more good news on the consumer electronics front.

Folks are keeping their smart phones for longer so much to samsung and apple charging. We have fully entered the diminishing upgrade cycle. Consumers out there, they are technical, the mindset the fda broke.

I'm not going to fix that. I love this attitude. Our devices or working longer, while at the same time newer devices don't represent much progress.

You not heard about the the A I in the new iphone. Come on.

do do you want one more button? Are sticking with what they have. And so instead of getting the the new bottle model every year, or to the average person is evidently waiting three to four years, I in love this so much independently.

A part of this is also thanks to the the new cell phone service provider model, the vn o model, the mobile virtual network Operator model. We are paying far less every single month. But what that means is we're not getting these subsidized phones in the same way that we use to rights.

So you sign up for that long contract, you get a discount of phone. So I think feeling that pain is actually good in this creating change. When IT comes to consumer behavior, folks are taking care, their devices at leads, the less waste, fewer electronics and the lane fell s .

and more money or pockets. Yeah, i'm a fan of all those things, and I like paying the Price for things I don't want at all package into one big deal. I don't know what i'm paying forward and all the of amorphous costs, some sort of like eighty thousand dollar amount cell phone bill.

I want the fifteen twenty dollar among cell phone bill, and then I want to pay for your device when I need IT. Actually, I think, is a much Better model. And the point is actually good thing, people, the data to know how to respond to.

And here's something else met that could help americans do the right thing with their money. Let's talk about the new CF pb rule, consumer financial protection beer rule that aims to make IT easier to switch banks. We talked about IT when they first announced IT.

Um I think this was in the spring maybe, but last week, they unveiled the final draft of their open banking rule that's they're calling IT, which is interesting. I said they're veiling the final draft, but sadly, it's not going to be fully implemented until twenty, twenty six. I think this is actually part of the reason, though, that so many folks still hang with the big banks.

We talk about that like being kind of baffled at the fact that people stick with the biggest banks, wealth's, fargo bank america, even though they don't pay anything the customer services and could they have more fees than most of our favorite online banks. But I think people stick around often because it's difficult to switch. And the thing about this new rules is going to allow for fin tech companies to have access to your account data so they can help you seamlessly switch the big banks.

They are not happy about this. They don't like this because they know that the easier is to switch, the more likely you are to leave them. But now switching all your payments, it's not going to be a massive chore, which means you're not going to feel as hand cut to a crumbly bank maybe that you've been doing business with. I like this. I'm curious to see what that looks like when the rule is not just finalized, but once is actually launched into the into the world .

and once that makes this way through the court as well. I think there's a lawsuit up against IT, but I I am i'm because i'm very really curious to see if IT actually leads to folks jump and ship with the current bank they're with because I still think that there is a certain ament of inertia bias that keeps people from doing the thing that they're supposed to do, right?

Like when you are with somebody and maybe they are not the best, but you're like that's what i've always done. I'm just gona stick with IT. Like no matter how many times we've so no matter how easy you make IT right like like there are still gonna folks who we're going to do the quote, quote right thing it's like you can buy.

we all know is a reality in our lives. So yeah, in so many different spaces where we're like I would love to get a six back but like there's .

there's an easy way to do that.

I was like ice cream and so you know you just kind of keep going on the ice cream train.

Yes, exactly. Like you can buy the vegetables and the fruit. But like, will you eat IT or do are you instead?

Like, but the chips are right there and boom, you eat the chips in the ice cream. The heavy food. Like, you have to, you have to want IT badly enough.

You have to be sick, tired of IT. You have to be so fed up with IT to finally to make that move. So I think for the folks who get to that point, this is going to be great because this is going to make IT easier for them. But I still think, man, that there is going to be a subset of folks with, like no matter how easy you make IT, that they're not gonna change. And there gonna the ones who are still beholding .

to some of those big banks, prioritize convenience and ease instead of make the switch, even if he is easier.

Exactly another rule that actually went live this week, so no need to wait another couple years is automatic refunds if your flight has been delayed, significantly changed or cancelled. And so that means a three hour plus delay on domestic flights, and that means a six hour plus delay on international flights for here. Find out of the U.

S. There are other protections for your stuff, like if your bags don't show up when you do as well. But what's great about this new rule is that is going to prevent you from spending hours with customer service as you're trying to claud your money back. IT Mandates that refunds are automatically processed by an airline before used to be where you had to make this request right.

You had to actually call a one hundred hundred. Yeah, complain. Listen, I was like, I was had a four hour to lake and I get my money back and they would be like, well, we will put on hold 我。

what's like my manager about this? Going back to the whole inertia bias, how many people are actually going to pick up the is so easy, just just call the number, but how many folks are actually doing that thing? But that's no longer the case.

The refund is got to go back on your credit card within seven business days. So this is like the good news. Part of this rule sounds awesome, and I will be in a lot of cases.

But in other cases, it'll negatively impact some of those folks. So there's a site crinkly flyer, dcom, they focus the airlines over there, but they point that many airlines previously actually had more generous refund policies. Let's say, after just like a one hour or a two hour delay.

But now that they're kind of doing something, they are maintained this across the board, they're switching to the less stringent d ot. guidelines. So this one of those ways.

they kind of competed with each other at times. Yeah, we've got more generous refund. Icy were going to make IT easier for customers who have had about experience to to get their money back.

Um IT was never automatic. And so that's what the dot trying to remedy is, is people having to claw their money back. But at the same time, you're right, like some of those generous refund policies, they are going to get less generous because of this new .

standardization might be more delays when IT comes to some your flights. But joe, we ve got more to get to. We've got to talk about the irs specifically.

They change some rules or others actually a new segment of people who can really ramp up their retirement contributions. But gets of that maybe some social media talk all that right after this. If you're looking to take your money game to the next level, then you can keep doing the same old things that you've always done.

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Or back. We are continuing with the friday flight, and we are, as always, we got to get to the ludicrous adine of the week. This one comes from entrepreneur magazine, which might know.

reading on the red, right? I don't get any actually know what I we started getting some random magazines like out of the blue, a really once travel magazine. Like, don't we're not going to do these fancy places? Well, like why you send? Did you have ink? Is that a magazine? I N C IT is like a business.

Did you have like a favorite magazine when you're a kid? Butter.

I think. Do we talk about this more recently when I was more into, I guess, technology? wired. No, I like wired.

Think about, I guess, mine. I don't know. I mention, I know if I was like, IT was a basketball specific magazine, and so IT was called stuff, but I don't remember, was a long time ago. So.

but I love, love basell on kid. I bet you were all about the, what was the, what was the a shoes magazine catalogue? E, that in like middle school.

I love looking at the best shoes too.

I knew that was so totally. See medal to my day.

most definitely most so. This headline from entrepreneur magazine reads nearly three in four posts on social media with financial advice are misleading, according to a new report. So the amount of time map people spend on social media IT continues to increase.

I think I saw yeah australia just pay in social media for kids under the age of sixteen. So those countries are starting to take notice and parents are starting to take notice of just the dismal impact of too much social media usage. You and I use social media sparring ly, I would say, and take their own really is how they choose to spend their time.

But IT is important to be careful if you're following financial influencer is on tiktok, instagram, whatever other social media platform is invoke these days. And tiktok IT was apparently the worst. In this new report, seventy one percent of all the posts that were analyzed were found to be misleading.

And then let's talk about what that means. I get seven and ten advocated investing in specific stocks. So it's people saying, don't like that. I got the hot pick over here.

You should follow me and youtube will become rich because this stock is going to do far Better than silly index funds, right? And so there were a lot of other ways, the social media post communities leading and in social media in enough itself met. I guess I can be fun at times um but there are a lot we said this repeatedly.

There are a lot of well intention folks creating content out their own social media platforms. But there are also nefarious self serving creators out there who are pushing content out there in order to produce their own returns or in order to sure make a big name for themselves s not to help people. So just be careful, uh, changing your approach to money or changing your investing strategy because of the social media video is watch because .

I think you're right. I think the term misleading is apt here. And part of the problem with financial content, I think social media is the medium itself, right? Like these are platforms that are built for short form. There are built for eyeball bing content that are going to attract to your add mind and that prevent ts the ability to digging.

I'm saying that about myself here as well, not you like you or our listeners like this is just how we're wired and IT keeps us you all get hijacked by yeah IT IT prevents us. So from like diving into the specifics in the nuance of what IT is that you of how you should be talking about IT right. And so what might start off as solid advice is that being stop far because there's just none enough time to actually dedicate to the specifics is why podcasting in opinion is the tops. But also.

it's really tough to explain some of these concepts in sixty .

seconds or less.

So even with the nuances in the grey area that needed to help other people who might not be .

in the same exactly, but I also is just a social media, right? Like it's like a playground for entertainment. And so like I don't think you should necessarily be making decisions with like lots of dollar science attach to them based on something that you're seeing on social media because like there's always been snake oil salesmen know since like the beginning of time is just that. Now that's nail says like there are twenty two and have a cool hairy cut and like a nice car, they're tell you to buy a certain .

stop they rented for like two hours so they can look rich exactly to impress you and make you think they are legit though they .

don't know what you're talking about. The same games to be careful hood is that you follow for financial advice yeah.

And I realized maybe that sounds a little self serving you should listen to pocket stead of but I think you're right now there there is something about the ability to kind of talk about these yeah these topics in a more well rounded and filter ted away instead of just like hype, puff and all that. sure. I talk about four L N, K contribution limit increases in nerdy.

With that, you mention actually that there is a subset of people who are going to be able to contribute a whole lot more to the retirement council will talk about that just a second. You look at the the irs contribution limit, what they have they've raised how much everybody can can contribute to their four one k by five hundred box a year. So not massive and not like this insane jump.

But we in twenty twenty four, you can put twenty three thousand dollars into your funk. Now your individual contribution can be twenty three thousand five hundred bx. So hey, a little bit of a bump, right? I thank you.

And actually saw recently method, what fourteen percent of people max out. okay. I think that was nice. Some customers from bang gar a, that's actually higher than I would have guessed. That's a of money indeed.

And so if you're one of those folks who does max out, you'd next five hundred books that you can toss in there, which basically means shooting for around the number of were met one thousand nine hundred and fifty eight dollars and thirty three cents permit you get an exact into your form. n. Kay, so close, so close to the two thousand dolla month, if only he was IT was a round twenty four thousand dollar contribution limit number.

There's one group of people for whom the contribution limit has increased significantly more than the average human, thanks to this current two point, no. And that is people who are between the ages of sixty and sixty three years old. They are allowed to contribute up to eleven thousand, two hundred and fifty dollars more for a total contribution limit of thirty four thousand seven hundred fifty thousand. And so once they turn sixty four, that dials back to thirty one thousand dollars overall.

which is weird. Really understand IT. Yeah, makes me think this. Whoever proposed this was somewhere within the .

age of sixty to sixty, fifty eight, and i'm sixty by the time this comes to being perfect for me. But this is great news for folks who are late to the investing game and they're keen to hubble money in the tax advances accounts in larger sums. Um it's kind of sounds a little arbitrary, a little weird. But if you fall into that can hey, you can make up for last time and .

well for when k contribution amounts are going up while the array limit is staying firm for most folks at seven thousand dollars, its eight thousand dollars for folks who are fifty in order one. Bm, no progress there. So the key though, for everyone listening to the show is to be investing into these accounts regularly and then to work on using those contribution amounts over time, right? You may have just started on investing.

You may not be anywhere near maxing out either account, and that's okay. This is a place that we've all been, but the goal is to steadily increase the amount of money the person is that you're investing in your retirement accounts over time. In the baby, someday you will arrive at the promise land and end up among the fourteen percent taxing other four one case each year. But until then, just you can move in in the right direction because I think those tiny little baby steps that incremental progress a little bit Better every day, just a one percent increase that makes a real difference.

Yeah, people solidly underestimate met the power of like super duper small changes. And I think you're right if if more listers would may be literally today go to the back into their account, the foreign account through work, or there the automatic contributions they may may be to their traditional roth I and just increased by a little twenty bux amount or one percent to your four one.

Kay, you might not notice a significant decrease in the size of your check, but those little bits really do out of and make a big difference. And if you can do that, let's say, on repeat, once a year or once every six months, even that the kind of impact you can have on your financial future is significant is massive, a one percent change or a one degree change in like a rudder on a ship. IT starts out really, really small and you're like you're barely, of course, but six days later, you're into heated when you were trying to go to an article or something like that. And so I think that yeah, it's solidly .

underestimated for sure. Totally women, let's talk about the job market because just a couple years ago, changing jobs is all the rage. Dude, like that was how you got paid.

I had to do was just hop over to A A different company, hop over to the competitor. The labor market was on fire. Workers were in such high domain that jobs, which is they're being essentially like overwhelmed with cash for dripping ship.

And while the labor market IT is still solid, unemployment IT is incredibly low. That being said, job hopping is not gonna. You paid nearly as much these days.

The gap t between switching and staying IT was nine percent a couple years back. Now IT is down to one point five percent. This is according to A D P, the the payroll company.

And that's obviously just an average. I think there are folks out there who can be smart about IT. I think savy focus out there can still get paid a decent chunk more by not staying plant and looking around to the different Carriers that are being dangled out. There is just that is not as easy is not nearly as easy to pull off at the the tail end of now this year versus as IT was like back and one of twenty twenty two.

Yeah, those were hard times right there for and we heard from the fairmont listeners because we were talking about that at the time. He guess what this is. A phenomenon that's probably gonna send my short lived.

And if you took advantage of IT, you might have found that you are able to increase your paycheck maybe by nine or ten percent, but a lot of other folks, twenty, thirty, forty percent, even crises and pay, they made, hey, well, the sunshine. And I think you're right to point out method, other people can still do that even though the number to say on average, it's not as impact for financially to switch jobs. On the jobs note, jobs scams are delivering and they're targeting Younger workers.

This is according to A A recent ftc pressures the way IT works uh according to the ftc is that you you get me email saying that you've been recommended for a job from a former professor from someone you know that's why you know it's targeting yn folks. It's like your professor just recommend any view for this job you know I go here. SHE was so sweet. That's really nice of them to think of me and this established some trust is like, hey, we're we're in contact with someone you know already then the company the fake company asked you to fill an application to come on board and they might try try to whistle out enough info to steal your identity or some of your bank account information in that application or they might tell you that you're hired and then in send you a check to cover the cost of work from home equipment because mat everybody y's working from home. And hey, you need a computer to get set up on the .

network and all that stuff. The one of the guys they profile and here actually had an interview that was done over microsoft teams. And I think another reason that they're targeting Younger folks is that they're just used to live so much conducting a lot of their life on lies.

I never need to meet my employer in person.

but like ah that's totally Normal.

They didn't bad nash, but we do everything online. We cars online, which fifteen years ago, people have said this insane, no one's is going to buy, but we do.

But we doing from legitimate sites, not from something that shows up in your inbox exact here's a car, right? That's kind of the key differences. So what happens .

when you get set to check? You like cool right now, it's time for you. Go buy a computer to limit deposit the check, then then ask you actually to send money back via zell or vm. A red flag, red flag, red flag classic scheme just in a new flavor and then the check they send you later grounds so IT look carefully at the the email address that you're getting uh, proposition from don't click on links to come in from email dresses you don't know, I don't ever give out your bank account information or send money to any employer even if IT sounds like a religion reason yeah .

have you ever had a job or you have to send your employer money to? No.

typically that this should be the other way around. They should be paying you.

I didn't want people to be overly paranoid, but like I don't know, I think some folks might even be hesitant to fill up any information. Just verify IT independently verify. So if it's a company that you think you might have an interview with, proactively reach out to that company by pulling up their website independently, clicking on hr, giving them a call.

If it's a professor, they're reaching out to you. I'm guessing you've got some sort of connection to them. It's like look up the school website and find their phone like actually call them. Or you know if you're near campus, I go to go on campus and like talk like there's just so many different ways to independently verify this and not just .

and the main thing, put your head kind in the same.

like it's it's wishful thinking, right?

That's why you can fall for you might duped briefly on the front end, but don't never send that much money, especially because there's no way of playing that money back. And if someone ever asked you to do that, the is now okay.

So what we're talking about, getting tired, talk about getting fired or not fired, how about retired?

About IT all IT.

Turns out older americans are more keen on retiring early ish. There's there's a new study from the new york fed, and they find that american workers think that there is a forty six percent chance that they're still going to be working full time after the age of sixty two. Back in twenty sixteen, IT wasn't forty six percent IT was fifty eight percent of folks thought that they would be working full time past that age.

And so there's be on a beach earlier yeah, there's a big shift here. And depending on your your personal goals, how you've done saving and investing, that can easily be achievable. Like when I see these stats, I want to tell people to hope for meaningful work at the back into their career, but financially plan for and not being there.

But I think I can't help but to think of the pandemic and just how much that changed ah how IT is that? Especially older americans, if you there are worth because the world seems that goes crumbling and I feel like talking about the pandemic is like not enough anymore. Like in right, I understand why if IT was like a terrible time, we wanted I think there's a lot of us that want to completely black that from our minds and completely ignored.

But I think we do that at our own peril. But during that period of time, we're able to recognize that there is more important things in life than being a participant in the rat race, right, where you're going from one achievement, one promotion to the next or from one flat screen to another. You're trying to like buy your way to life satisfaction and happiness, saying and ninety and htv doesn't provide life satisfaction.

I think we were able to agree, to disagree that they realized that there are more important things in life, you know relationships, family, like a higher calling, like self sacrificing to be able to provide for others just different things that bring so much more in life. But after times, we don't take enough time out of our lives to think about what those things are in something else that we had during the pandemic. Not only sort of this fear that maybe things weren't going as planned in the world like maybe we're hoping, but we also had a lot of time on our hands. And that's one thing that I don't like about having resumed in in court Normal is that we're also resuming th Epace I w ish w e're l iving l ife, which leads yeah which leads to us not really thinking through some of these bigger questions in life. And that's one thing that I actually appreciated during the pandemic sort of that refocus the ability to pursue the things that ultimately might bring about happiness for us.

I think kind of what you said earlier on, you said something essentially planning for the worst, but hoping for the best when IT comes to employment in those later years. And I think I like a really good tack to take because you want to save and invest like you won't have a job that you love in your sixties. You, anna, have that kind of financial freedom. But if you love what you do and keep doing IT enjoying that, that's that's the way .

that the great life to the film, keeping your self occupied IT maybe not kicking back, hold a drink on the beach on the goal. Of course, whatever is that is like the queen, essential, stereotypical retirement. Maybe that does not what is what's in store for you, but you gotto figure out what IT is for you individually. That's going to move the needle, no doubt.

are. Now that's IT for two days friday flight. We will link to some of the stories we mentioned in the shower ots up on the site at how to money dog.

That's right. We hope everyone has a fantastic weekend. We hope you have a enjoy a way on also have a new episode up for that, right? So you can look forward that in your pod catchers but until next time.

best friends are best friends out.

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