1 00:00:01,626 --> 00:00:03,951 Welcome to the kitchen table finance podcast 2 00:00:04,324 --> 00:00:06,863 where we make retirement planning easy and enjoyable. 3 00:00:07,673 --> 00:00:10,458 Discover practical advice to create a retirement strategy 4 00:00:10,458 --> 00:00:13,004 that fits your lifestyle and budget. Get ready 5 00:00:13,004 --> 00:00:16,505 for market updates, intriguing finance headlines, book reviews, 6 00:00:17,078 --> 00:00:20,106 special guests and inspiring case studies. So grab 7 00:00:20,106 --> 00:00:21,939 your favorite cup of coffee and join us 8 00:00:21,939 --> 00:00:23,692 at the table as we talk about everything, 9 00:00:23,851 --> 00:00:24,980 Fine, in retirement. 10 00:00:25,616 --> 00:00:27,684 We're here to support you in achieving the 11 00:00:27,684 --> 00:00:30,149 retirement of your dreams. Let's jump right in. 12 00:00:31,898 --> 00:00:33,648 Hey Dave. How are you doing today? I'm 13 00:00:33,648 --> 00:00:34,856 doing great. Nick. How are you? 14 00:00:36,049 --> 00:00:36,549 Fantastic. 15 00:00:37,401 --> 00:00:40,662 Shining. It's a podcast Friday. Podcast Friday in 16 00:00:40,662 --> 00:00:42,052 the summer. We 17 00:00:42,425 --> 00:00:42,901 for our 18 00:00:43,775 --> 00:00:44,751 Youtube watchers, 19 00:00:45,124 --> 00:00:48,062 I got my floral Friday podcast shirt on. 20 00:00:48,300 --> 00:00:50,618 Yeah. Yeah. You look like you are you 21 00:00:50,618 --> 00:00:52,290 should have a a lay on around your 22 00:00:52,290 --> 00:00:52,790 neck 23 00:00:53,166 --> 00:00:53,405 there. 24 00:00:54,360 --> 00:00:55,952 I'm getting there. You never know. 25 00:00:56,748 --> 00:00:58,102 Yeah. Good. Good. 26 00:00:59,234 --> 00:00:59,715 So, 27 00:01:00,195 --> 00:01:02,135 Dave, 1 of our recurring 28 00:01:03,395 --> 00:01:05,314 episodes here where we... 29 00:01:06,049 --> 00:01:08,846 Read the news and parse out the good 30 00:01:08,846 --> 00:01:11,484 stuff, so you don't have to. Right? Yeah. 31 00:01:11,803 --> 00:01:12,283 The other... 32 00:01:12,922 --> 00:01:15,573 Hey. Last week when we were recording you 33 00:01:15,573 --> 00:01:17,642 know, on a specific topic, I I kinda 34 00:01:17,642 --> 00:01:19,632 was those chuck and myself that in a 35 00:01:19,632 --> 00:01:21,621 way every 1 of our podcast is in 36 00:01:21,621 --> 00:01:24,088 some form become a headlines podcast. Right. It's 37 00:01:24,088 --> 00:01:24,588 usually, 38 00:01:24,898 --> 00:01:28,001 something we've read, something we've just seen that 39 00:01:28,001 --> 00:01:31,342 we react to. Right? Yeah. But Sure. You 40 00:01:31,342 --> 00:01:33,826 know, So so don't be surprised if you 41 00:01:33,826 --> 00:01:36,456 see some of these topics resurrected as we 42 00:01:36,456 --> 00:01:39,325 go. Yeah. Absolutely episodes. Right? 43 00:01:40,056 --> 00:01:43,654 So our first article, Dave comes from mornings 44 00:01:43,710 --> 00:01:46,434 star and Christine Benz on 45 00:01:46,967 --> 00:01:49,600 lessons that... She had in... 46 00:01:50,155 --> 00:01:52,613 Looks like taking a sa... For 6 weeks. 47 00:01:53,009 --> 00:01:56,118 Yeah. Kind of a retirement test period. Yeah. 48 00:01:56,358 --> 00:01:58,352 She took 6 weeks off to see how 49 00:01:58,352 --> 00:02:01,064 it goes, you know? And I thought that 50 00:02:01,064 --> 00:02:03,456 was interesting. Obviously, a lot of people don't 51 00:02:03,456 --> 00:02:05,291 have the luxury of being able to do 52 00:02:05,291 --> 00:02:05,450 that. 53 00:02:06,419 --> 00:02:08,562 But, you know, the idea even as a 54 00:02:08,562 --> 00:02:11,815 mental exercise, I think is worthwhile as you're 55 00:02:11,815 --> 00:02:14,037 getting close to retirement to kinda... 56 00:02:14,609 --> 00:02:16,121 Kinda get a feel for what it what 57 00:02:16,121 --> 00:02:18,669 it might actually be like. Because as we've 58 00:02:18,669 --> 00:02:20,501 talked about a lot over the last 2 59 00:02:20,501 --> 00:02:22,173 years, however long we've been doing this 2 60 00:02:22,173 --> 00:02:24,409 and a half, There's more to retirement just 61 00:02:24,409 --> 00:02:26,153 the financial part. A lot of it is 62 00:02:26,153 --> 00:02:26,653 psychology. 63 00:02:27,103 --> 00:02:30,528 It's interesting because I feel like this... Piece 64 00:02:30,528 --> 00:02:33,316 of advice comes up quite often to, like, 65 00:02:33,475 --> 00:02:34,829 hey, do a trial, 66 00:02:35,626 --> 00:02:38,029 retirement for a couple months. But I don't 67 00:02:38,029 --> 00:02:40,255 see a lot of people actually doing it. 68 00:02:40,573 --> 00:02:43,036 Right. So it's nice to get Christine take 69 00:02:43,036 --> 00:02:44,865 on, kinda how it worked for her in 70 00:02:44,865 --> 00:02:46,136 what lesson she learned. 71 00:02:46,709 --> 00:02:49,426 Would love to hear from listeners if you 72 00:02:49,426 --> 00:02:51,744 have done something like this, I would love 73 00:02:51,744 --> 00:02:53,981 to hear about it. But you're right. In 74 00:02:53,981 --> 00:02:55,754 the second piece of this is there is 75 00:02:55,754 --> 00:02:58,252 a lot of psychology behind it. And in 76 00:02:58,391 --> 00:02:59,291 you've been working 77 00:02:59,990 --> 00:03:02,227 for 20, 30 years, you might not be 78 00:03:02,227 --> 00:03:04,305 ready necessarily to retire. 79 00:03:05,038 --> 00:03:07,260 And that... There there's a lot of, you 80 00:03:07,260 --> 00:03:09,640 know, things that happen when you go from 81 00:03:09,640 --> 00:03:12,512 full out work to very little work that... 82 00:03:12,750 --> 00:03:15,611 That's a big transition. Right? Right. I actually 83 00:03:15,611 --> 00:03:17,200 just heard the store. I don't have the 84 00:03:17,200 --> 00:03:18,631 link in here, but there was a, 85 00:03:19,839 --> 00:03:22,333 bus driver that drove a city bus for 86 00:03:22,391 --> 00:03:25,023 25 or 30 years. Retired didn't like it 87 00:03:25,023 --> 00:03:27,575 very much. Went back to. He's now 94 88 00:03:27,575 --> 00:03:29,091 and driving a school drive bill. 89 00:03:30,221 --> 00:03:32,368 Yeah. So, you know, you see a lot 90 00:03:32,368 --> 00:03:34,675 of that where people Mh retire and then 91 00:03:34,675 --> 00:03:37,394 decide that, hey, maybe I'd do enjoy working. 92 00:03:37,553 --> 00:03:39,936 Maybe I should working. The social aspects of 93 00:03:39,936 --> 00:03:41,707 it, just the purpose 94 00:03:42,160 --> 00:03:43,114 that it provides. 95 00:03:43,924 --> 00:03:46,396 There's lots of reasons. Christine, you know, she 96 00:03:46,396 --> 00:03:48,151 breaks it down to a a few lessons 97 00:03:48,151 --> 00:03:49,847 she took away from the 98 00:03:50,703 --> 00:03:53,096 sa time about, you know, how to think 99 00:03:53,096 --> 00:03:56,787 about un schedule time and having a purpose 100 00:03:57,239 --> 00:03:58,112 to what you're doing. 101 00:03:58,985 --> 00:03:59,485 And 102 00:03:59,858 --> 00:04:01,524 it's it's a good read, and it's a 103 00:04:01,524 --> 00:04:03,128 short read, So take a look at it 104 00:04:03,128 --> 00:04:05,989 if you're on the fence about retirement or, 105 00:04:06,546 --> 00:04:08,294 wondering if it's the right time for you. 106 00:04:09,248 --> 00:04:12,368 So our second article, Dave, comes from none 107 00:04:12,368 --> 00:04:14,706 other than the Wall Street Journal. And 108 00:04:15,565 --> 00:04:17,503 this 1 is money habits 109 00:04:18,361 --> 00:04:19,980 that you get from your parents 110 00:04:20,453 --> 00:04:23,742 in financial literacy, and I found it interesting 111 00:04:24,516 --> 00:04:28,039 because what often oftentimes happens in house holds 112 00:04:28,039 --> 00:04:29,956 is we learn by watching. 113 00:04:30,595 --> 00:04:34,350 Mh. Don't necessarily have conversations about money and 114 00:04:34,350 --> 00:04:36,667 our money philosophies. It's just kind of something 115 00:04:36,667 --> 00:04:38,730 that you undertake by osmosis. 116 00:04:39,444 --> 00:04:39,762 Right. 117 00:04:40,317 --> 00:04:43,095 Right? And it's very interesting because you might 118 00:04:43,095 --> 00:04:46,164 money have 2 siblings that get very different 119 00:04:46,302 --> 00:04:49,335 results over what that, learning by watching is. 120 00:04:49,894 --> 00:04:50,293 Absolutely. 121 00:04:50,931 --> 00:04:51,410 Absolutely. 122 00:04:52,461 --> 00:04:53,837 And I think it's also 123 00:04:54,212 --> 00:04:57,555 interesting from the standpoint of retirement that a 124 00:04:57,555 --> 00:04:59,545 lot of people, you know, will come in 125 00:04:59,545 --> 00:05:00,978 and say well, I wanna have a retirement 126 00:05:00,978 --> 00:05:03,220 like my parents. Right? Or I wanna make 127 00:05:03,220 --> 00:05:05,050 sure that when I retire it's not like 128 00:05:05,050 --> 00:05:07,436 my parents. Right? And so I feel like 129 00:05:07,436 --> 00:05:10,158 we get some of that as well those 130 00:05:10,158 --> 00:05:12,468 habits when it comes to retirement too. Well, 131 00:05:12,787 --> 00:05:13,664 sure. And 132 00:05:14,062 --> 00:05:16,850 where where I notice it to is when 133 00:05:16,850 --> 00:05:17,966 we talk about investments, 134 00:05:18,776 --> 00:05:21,559 and spending. Investments and spending, you know, the 135 00:05:21,559 --> 00:05:24,341 2 the 2 big aspects of financial planning, 136 00:05:25,136 --> 00:05:25,636 and 137 00:05:26,424 --> 00:05:26,924 someone's 138 00:05:27,302 --> 00:05:30,916 attitudes about the stock market and investment risk 139 00:05:31,294 --> 00:05:32,991 often go back to 140 00:05:33,369 --> 00:05:36,519 experiences that they absorb from their parents or 141 00:05:36,818 --> 00:05:38,976 they were early on in their own investing 142 00:05:38,976 --> 00:05:41,933 career and change the trajectory of of what 143 00:05:41,933 --> 00:05:44,511 they do because of those early 144 00:05:45,225 --> 00:05:45,725 early 145 00:05:46,345 --> 00:05:48,024 things that they saw or felt. 146 00:05:48,585 --> 00:05:50,365 And when we get 147 00:05:51,305 --> 00:05:53,645 into working with clients who have 148 00:05:53,958 --> 00:05:56,343 either overs spending or under spending issues, 149 00:05:56,979 --> 00:05:58,727 so much of that is tied back to 150 00:05:58,727 --> 00:06:01,271 childhood experiences. Yeah. I know there was a 151 00:06:01,271 --> 00:06:02,701 lot of talk about... 152 00:06:03,354 --> 00:06:03,854 The 153 00:06:04,471 --> 00:06:06,546 generation, and I'm not good with the names 154 00:06:06,546 --> 00:06:09,021 of the generation C q, something like that. 155 00:06:09,180 --> 00:06:11,415 Yeah. That going through, like, their first memory 156 00:06:11,415 --> 00:06:14,055 of month money would have been around 2008 157 00:06:14,055 --> 00:06:15,883 when we had a big, you know, financial 158 00:06:15,883 --> 00:06:17,496 crisis and the concern was 159 00:06:18,030 --> 00:06:19,859 they're not gonna wanna invest. They're not gonna 160 00:06:19,859 --> 00:06:22,044 say like they're gonna be money very 161 00:06:22,661 --> 00:06:25,293 shell shocked because of that. And, you know, 162 00:06:25,532 --> 00:06:27,845 I don't know that that's played out as 163 00:06:27,845 --> 00:06:29,998 much as people thought. There is some research 164 00:06:29,998 --> 00:06:32,168 on that. Yeah. There were some studies that 165 00:06:32,168 --> 00:06:34,884 were done around 20 18 20 19, looking 166 00:06:34,884 --> 00:06:37,361 at the early experiences with folks that were 167 00:06:37,361 --> 00:06:38,375 in the... In that... There 168 00:06:39,132 --> 00:06:39,930 age cohort. 169 00:06:40,648 --> 00:06:43,280 And it wasn't as cut this... I'm going 170 00:06:43,280 --> 00:06:44,715 from memory here. I don't have the research 171 00:06:44,715 --> 00:06:46,949 in front of me. Wasn't expecting to go 172 00:06:46,949 --> 00:06:48,145 down this this path. 173 00:06:48,719 --> 00:06:51,114 But it basically shakes out that for some 174 00:06:51,114 --> 00:06:52,332 people, it really did 175 00:06:53,110 --> 00:06:54,408 you know, shape their 176 00:06:54,866 --> 00:06:57,900 willingness to contribute to retirement accounts, willingness. 177 00:06:58,232 --> 00:07:00,293 Invest the money in their retirement accounts once 178 00:07:00,293 --> 00:07:04,019 it was contributed and just overall, like, faith 179 00:07:04,019 --> 00:07:06,100 in the financial system to Yeah. 180 00:07:06,819 --> 00:07:09,379 Writ large. It wasn't maybe a sweeping, 181 00:07:10,180 --> 00:07:12,339 and it may... It'd be interesting to see, 182 00:07:12,420 --> 00:07:14,819 like, how that's played out now with another 183 00:07:14,819 --> 00:07:16,269 5 years of, you know, 184 00:07:17,225 --> 00:07:19,216 overall pretty good markets with some ups and 185 00:07:19,216 --> 00:07:19,774 downs in there. 186 00:07:20,491 --> 00:07:21,288 Mh. But 187 00:07:22,005 --> 00:07:24,013 5 but this particular article, 188 00:07:24,571 --> 00:07:26,585 the money habits I learned from my parents 189 00:07:26,962 --> 00:07:28,796 that we that we picked up from the 190 00:07:28,876 --> 00:07:30,071 Wall Street Journal is basically, 191 00:07:31,122 --> 00:07:34,009 Jessica Chow, 1 of their personal finance writers 192 00:07:34,066 --> 00:07:36,215 talking about her own experience with with her 193 00:07:36,215 --> 00:07:38,603 mother and what she learned and how that's 194 00:07:38,603 --> 00:07:41,881 colored her outlook. Well, and also of how 195 00:07:41,881 --> 00:07:43,313 she had to un learn some of those 196 00:07:43,313 --> 00:07:46,656 nonsense. Right? Yeah. And so we've obviously dealt 197 00:07:46,656 --> 00:07:47,770 with some of this with clients. 198 00:07:48,425 --> 00:07:50,745 And Mh. And we we do use the, 199 00:07:50,985 --> 00:07:52,285 money scripts from 200 00:07:52,904 --> 00:07:53,225 clots. 201 00:07:54,345 --> 00:07:56,504 As... You know, it's kind of the awareness, 202 00:07:56,665 --> 00:07:58,431 like, the first up in overcoming some of 203 00:07:58,431 --> 00:08:00,258 this is just being aware that it's out 204 00:08:00,258 --> 00:08:02,165 there and it may not be in challenging 205 00:08:02,165 --> 00:08:05,124 that... Just having that epiphany that Oh, 0, 206 00:08:05,363 --> 00:08:07,681 right. That's why I think this way it 207 00:08:07,681 --> 00:08:09,759 probably goes back to that incident when I 208 00:08:09,759 --> 00:08:11,677 was in sixth grade and this happened with 209 00:08:11,677 --> 00:08:13,355 my parents and money. A lot of times... 210 00:08:13,769 --> 00:08:14,748 Is is 211 00:08:15,126 --> 00:08:15,286 go... 212 00:08:16,244 --> 00:08:18,399 Just being aware gets you gets you a 213 00:08:18,399 --> 00:08:20,395 lot of the way there. Let's see. Our 214 00:08:20,395 --> 00:08:22,092 next article, Dave comes 215 00:08:22,884 --> 00:08:26,072 from the collab fund in 1 of our 216 00:08:26,072 --> 00:08:26,572 favorites 217 00:08:27,108 --> 00:08:28,564 and that is mister 218 00:08:29,180 --> 00:08:29,976 Morgan H. 219 00:08:30,455 --> 00:08:32,086 It's talking about quiet 220 00:08:32,463 --> 00:08:32,963 compounding, 221 00:08:33,340 --> 00:08:35,653 which I absolutely love. And there's always 222 00:08:36,291 --> 00:08:38,045 reading his stuff, it there's always something that 223 00:08:38,125 --> 00:08:40,055 I pull or if I brought up Or 224 00:08:40,215 --> 00:08:41,654 It's was like, oh, yeah. Makes sense Yeah. 225 00:08:41,894 --> 00:08:43,575 He's he's he's a philosopher. 226 00:08:44,535 --> 00:08:47,254 Yeah. In in the true sense. Just good 227 00:08:47,254 --> 00:08:49,189 stuff in here, and it's it's... You know, 228 00:08:49,349 --> 00:08:51,187 for those who are familiar with his books, 229 00:08:51,347 --> 00:08:53,984 it's nothing necessarily new, but it's nice in 230 00:08:53,984 --> 00:08:56,621 a in a compact blog form here where 231 00:08:56,621 --> 00:08:57,740 he's talking about. 232 00:08:59,514 --> 00:09:00,495 Like, how 233 00:09:01,754 --> 00:09:02,154 how you... 234 00:09:03,035 --> 00:09:03,754 The gist of it is, 235 00:09:05,355 --> 00:09:08,429 stop comparing yourself to everyone around you. Make 236 00:09:08,645 --> 00:09:11,270 small incremental changes to your own life. It 237 00:09:11,270 --> 00:09:13,578 will compound over time and quit thinking about 238 00:09:13,578 --> 00:09:16,140 what other people think Absolutely. 1 of the, 239 00:09:16,220 --> 00:09:17,972 you know, the the stories that he tells 240 00:09:17,972 --> 00:09:20,361 in this article is we've all heard of 241 00:09:20,361 --> 00:09:21,954 the heat and the his where is not 242 00:09:21,954 --> 00:09:22,910 mine country bump. 243 00:09:24,519 --> 00:09:25,019 Limited 244 00:09:25,720 --> 00:09:28,039 education and, you know, low wage job that 245 00:09:28,039 --> 00:09:29,720 I managed to save tens of millions. Right? 246 00:09:29,879 --> 00:09:31,740 And the way that they did that 247 00:09:32,373 --> 00:09:33,508 was basically 248 00:09:33,882 --> 00:09:36,584 by, you know, their financial universe was contained 249 00:09:36,584 --> 00:09:38,809 in their house, which allow them to play 250 00:09:38,809 --> 00:09:39,309 game 251 00:09:39,699 --> 00:09:42,331 that wasn't guided by outside forces, and they 252 00:09:42,331 --> 00:09:44,745 slowly over time just compounded 253 00:09:45,123 --> 00:09:47,595 those investments. And, you know, they didn't have 254 00:09:47,595 --> 00:09:49,842 a ton of financial skill, but their Gil 255 00:09:49,842 --> 00:09:52,247 was in that. They didn't let outside forces 256 00:09:52,303 --> 00:09:53,359 really determine 257 00:09:53,891 --> 00:09:56,193 what they should be doing or how they 258 00:09:56,193 --> 00:09:58,360 should be investing. They just kind of let 259 00:09:58,575 --> 00:10:01,616 Gil the power of compounding over time take 260 00:10:01,616 --> 00:10:03,447 over. You know? And we're we are in 261 00:10:03,447 --> 00:10:06,075 this society where people are so nervous about 262 00:10:06,075 --> 00:10:07,110 what other people think, 263 00:10:08,001 --> 00:10:10,069 really kind of skew how people do things. 264 00:10:10,307 --> 00:10:13,194 Right? They go into this where they're either 265 00:10:13,251 --> 00:10:16,052 performing for others or copying strategies that might 266 00:10:16,052 --> 00:10:18,283 work for other people, but really work for 267 00:10:18,283 --> 00:10:20,275 you because you're playing a different way a 268 00:10:20,275 --> 00:10:20,594 game, 269 00:10:21,151 --> 00:10:23,302 and that can really kind of lead people 270 00:10:23,302 --> 00:10:26,109 into making 4 decisions financially. And I love 271 00:10:26,109 --> 00:10:27,864 this part about, you know, there 2 ways 272 00:10:27,864 --> 00:10:29,300 to use money. Right? You can either use 273 00:10:29,300 --> 00:10:31,236 it as a tool to live better life 274 00:10:31,549 --> 00:10:33,059 or you can use it as a yards 275 00:10:33,059 --> 00:10:35,604 stick of success to measure yourself against other 276 00:10:35,604 --> 00:10:38,625 people. Right? Right. Right. Which is so true 277 00:10:38,625 --> 00:10:40,215 when you, you know, if you go on 278 00:10:40,215 --> 00:10:42,531 social media, you'll see the yards stick. Right? 279 00:10:42,927 --> 00:10:43,640 Everybody's measuring. 280 00:10:44,116 --> 00:10:46,572 Yeah. And, you know, so you know, how 281 00:10:46,572 --> 00:10:47,998 do you wanna live your life? What you 282 00:10:47,998 --> 00:10:50,403 want? To use money for, and I think 283 00:10:50,403 --> 00:10:53,833 most people would obviously gravitate towards number 1 284 00:10:53,833 --> 00:10:55,827 of living a better life, and that means 285 00:10:55,827 --> 00:10:57,821 shutting out whatever everybody else is doing in 286 00:10:57,821 --> 00:11:00,012 the outside noise. Which also 287 00:11:00,390 --> 00:11:02,865 means fighting human nature and 288 00:11:03,424 --> 00:11:05,041 not giving into the 289 00:11:05,499 --> 00:11:08,467 ingrained urge to make those comparisons. Noise Yeah. 290 00:11:08,786 --> 00:11:10,881 Absolutely. And... I mean, and I don't wanna 291 00:11:11,020 --> 00:11:13,014 overs simplify it and make it sound easy 292 00:11:13,014 --> 00:11:14,370 because it's extremely difficult. 293 00:11:15,167 --> 00:11:17,241 Right? Yeah. But that, you know, the the 294 00:11:17,241 --> 00:11:20,601 kind of So what quiet compounding means in 295 00:11:21,079 --> 00:11:21,579 Morgan's 296 00:11:22,194 --> 00:11:25,561 words was an emphasis on internal versus external 297 00:11:25,699 --> 00:11:27,782 benchmarks. Right? Don't worry about what other people 298 00:11:27,782 --> 00:11:29,927 are doing, only worry about what you need 299 00:11:29,927 --> 00:11:30,961 and what's enough for you. 300 00:11:31,676 --> 00:11:34,163 Acceptance of how different people are in a 301 00:11:34,219 --> 00:11:35,014 realization that work. 302 00:11:36,302 --> 00:11:38,935 What works for you might not work for 303 00:11:38,935 --> 00:11:40,290 others and vice versa, 304 00:11:40,769 --> 00:11:44,358 focus on independence over social dunking and focus 305 00:11:44,358 --> 00:11:47,234 on long term endurance versus short term comparisons. 306 00:11:47,551 --> 00:11:48,051 So 307 00:11:48,501 --> 00:11:49,690 I found it super insightful. 308 00:11:50,720 --> 00:11:52,488 Obviously, we'll have all the links 309 00:11:52,954 --> 00:11:54,622 to the show notes here. So that's 1 310 00:11:54,622 --> 00:11:56,393 that I definitely recommend people 311 00:11:56,846 --> 00:11:58,991 take a look at. So our next article, 312 00:11:59,150 --> 00:12:00,206 Dave comes 313 00:12:00,580 --> 00:12:02,049 from the 2 street 314 00:12:02,506 --> 00:12:03,723 retirement daily 315 00:12:04,100 --> 00:12:07,550 and 1 of our friends missing the adams 316 00:12:07,688 --> 00:12:10,134 who currently serves on the michigan of f 317 00:12:10,334 --> 00:12:14,725 Pa board with me, talking about guidelines for 318 00:12:14,725 --> 00:12:15,943 seniors to not 319 00:12:16,322 --> 00:12:18,158 become a victim of fraud. I was actually 320 00:12:18,158 --> 00:12:19,616 on the site and 321 00:12:20,008 --> 00:12:22,236 Skimming the headlines started reading the article because, 322 00:12:22,315 --> 00:12:24,463 of course, it looked like something that I'd 323 00:12:24,463 --> 00:12:26,452 wanna share with clients. When I opened it 324 00:12:26,452 --> 00:12:28,854 up and sci was written by by Sandy. 325 00:12:29,014 --> 00:12:30,844 It was like a like, a bonus. We 326 00:12:30,844 --> 00:12:33,072 need to we need to include this. So 327 00:12:33,072 --> 00:12:36,255 it's it's nothing new from our point of 328 00:12:36,509 --> 00:12:38,897 View and hopefully, not to a lot of 329 00:12:38,897 --> 00:12:40,750 our listeners, but it's great reminders 330 00:12:41,444 --> 00:12:41,944 of 331 00:12:43,115 --> 00:12:44,013 how to 332 00:12:44,803 --> 00:12:45,303 combat, 333 00:12:45,681 --> 00:12:46,819 all the myriad, 334 00:12:47,595 --> 00:12:49,590 scams, both online, 335 00:12:50,148 --> 00:12:51,105 email, text, 336 00:12:51,599 --> 00:12:53,511 you know, what have you that are out 337 00:12:53,511 --> 00:12:55,126 there trying to separate 338 00:12:55,980 --> 00:12:58,870 us from our money and particularly our vulnerable, 339 00:12:59,485 --> 00:13:00,601 you know, senior citizens, 340 00:13:01,014 --> 00:13:02,774 Yeah. Always a good reminder, 341 00:13:03,254 --> 00:13:05,254 refresher. I always like to look at those 342 00:13:05,254 --> 00:13:07,495 things because there's always, you know, something new 343 00:13:07,495 --> 00:13:09,746 or some difference. Scam coming out and the 344 00:13:09,746 --> 00:13:11,423 more you can kinda make yourself aware of 345 00:13:11,423 --> 00:13:11,982 those things, 346 00:13:13,099 --> 00:13:15,734 the better off, typically, it is for you 347 00:13:15,734 --> 00:13:18,224 because no matter what they're out there at 348 00:13:18,224 --> 00:13:20,542 some point, you're going to go down the 349 00:13:20,542 --> 00:13:20,781 road. 350 00:13:22,220 --> 00:13:24,218 The sooner you can recognize that, the better 351 00:13:24,218 --> 00:13:27,014 off it's gonna be. And, Sandy offers some 352 00:13:27,014 --> 00:13:29,098 and good warning signs, but then also, you 353 00:13:29,098 --> 00:13:30,154 know, best practices 354 00:13:30,847 --> 00:13:31,166 to 355 00:13:31,961 --> 00:13:34,529 help protect yourself. So our next article, 356 00:13:34,983 --> 00:13:35,461 Dave, 357 00:13:35,874 --> 00:13:36,751 is when we, 358 00:13:37,389 --> 00:13:40,601 check in on our recent retirees or retirement 359 00:13:40,739 --> 00:13:42,574 Rookie from the Wall Street Journal. Yeah. 360 00:13:43,371 --> 00:13:44,430 Steven and Karen 361 00:13:44,887 --> 00:13:45,206 Y, 362 00:13:45,937 --> 00:13:48,638 and just kind of taking a look at 363 00:13:48,638 --> 00:13:50,942 what's new with them. I thought this 1 364 00:13:50,942 --> 00:13:53,667 was interesting because a lot of times 365 00:13:54,774 --> 00:13:57,091 In retirement, people feel like they need to 366 00:13:57,091 --> 00:13:58,289 have a bucket list, 367 00:13:59,248 --> 00:14:01,166 and Steven and Karen decided that that was 368 00:14:01,166 --> 00:14:04,207 not necessarily for them. Yeah. Yeah. It would 369 00:14:04,365 --> 00:14:06,589 I thought was was pretty cool. With gist 370 00:14:06,589 --> 00:14:08,813 of it being, you know, you've really gotta 371 00:14:08,813 --> 00:14:10,481 think about what makes you happy. 372 00:14:10,894 --> 00:14:12,409 You know, there's the cliche... 373 00:14:13,286 --> 00:14:15,359 The idea of a bucket list itself has 374 00:14:15,359 --> 00:14:17,512 become a cliche, and the things that often 375 00:14:17,512 --> 00:14:19,585 go on people's bucket list or cli cliches. 376 00:14:19,839 --> 00:14:21,030 At this point. Right? Right. 377 00:14:21,745 --> 00:14:24,469 And so don't build your own list 378 00:14:25,239 --> 00:14:26,931 based on what 379 00:14:27,542 --> 00:14:29,864 what you hear and what you... What what 380 00:14:29,864 --> 00:14:31,302 seems valuable to other people. 381 00:14:33,139 --> 00:14:35,056 Are you feeling overwhelmed when it comes to 382 00:14:35,056 --> 00:14:37,569 planning for your retirement? Do you want simple 383 00:14:37,628 --> 00:14:40,425 relatable information you can use today to plan 384 00:14:40,425 --> 00:14:41,064 for tomorrow. 385 00:14:41,704 --> 00:14:44,500 Check out the kitchen table finance podcast hosted 386 00:14:44,500 --> 00:14:45,974 by Dave Nick, certified 387 00:14:46,353 --> 00:14:48,830 financial planners with shot well rudder bear financial 388 00:14:48,830 --> 00:14:52,105 planners. They make retirement planning easy and enjoyable, 389 00:14:52,837 --> 00:14:55,778 discover practical advice to create a retirement strategy 390 00:14:55,778 --> 00:14:58,322 that fits your lifestyle and budget. Get ready 391 00:14:58,322 --> 00:15:01,661 for market updates, intriguing finance headlines, book reviews, 392 00:15:02,233 --> 00:15:04,546 special guests, and inspiring case studies. 393 00:15:05,104 --> 00:15:06,938 So grab your favorite cup of coffee and 394 00:15:06,938 --> 00:15:08,852 join them at the table as they talk 395 00:15:08,852 --> 00:15:11,006 about everything, finance and retirement, 396 00:15:11,580 --> 00:15:13,980 Go to sr advisors dot com or search 397 00:15:13,980 --> 00:15:16,539 for kitchen table finance wherever you listen to 398 00:15:16,539 --> 00:15:16,860 podcasts. 399 00:15:18,700 --> 00:15:21,592 Yeah. I loved Karen take on this. Where, 400 00:15:21,751 --> 00:15:23,823 you know, she kinda came to the conclusion 401 00:15:23,823 --> 00:15:26,134 that she'd rather visit places. She's already been. 402 00:15:26,293 --> 00:15:28,046 Mh. To connect with people that she knew. 403 00:15:28,699 --> 00:15:30,773 And that was her priority. And I think 404 00:15:30,773 --> 00:15:31,752 part of the problem 405 00:15:32,289 --> 00:15:32,789 with 406 00:15:33,246 --> 00:15:34,602 potential problem with a bucket list for a 407 00:15:34,602 --> 00:15:36,455 lot of people is know, what are your 408 00:15:36,455 --> 00:15:38,774 priorities? What do you want to do? And 409 00:15:38,774 --> 00:15:41,014 that maybe, if you don't know, you probably 410 00:15:41,014 --> 00:15:42,375 create a bucket list to see what you 411 00:15:42,375 --> 00:15:44,148 like. But if you are right now, maybe 412 00:15:44,148 --> 00:15:45,742 you don't need the bucket list because you 413 00:15:45,742 --> 00:15:47,416 know what your priority is are and what 414 00:15:47,416 --> 00:15:50,046 you wanna do. Right? Yeah. For sure. And 415 00:15:50,046 --> 00:15:53,090 and your priority may be, to experience new... 416 00:15:53,569 --> 00:15:56,222 It can be totally different than, than Karen's 417 00:15:56,439 --> 00:15:58,592 idea of reconnecting and re experiencing. It can 418 00:15:58,592 --> 00:16:00,665 be go do new things to exciting things. 419 00:16:00,999 --> 00:16:02,433 Climb amount and jump out of a plane, 420 00:16:02,593 --> 00:16:05,223 whatever. I... But but be conscious of it. 421 00:16:05,462 --> 00:16:06,679 Our next article, 422 00:16:07,056 --> 00:16:07,795 we go 423 00:16:08,411 --> 00:16:11,634 back, to mornings star and Christine 424 00:16:12,250 --> 00:16:14,343 and talk a little bit about 425 00:16:14,879 --> 00:16:16,871 whether or not you need permission to spend 426 00:16:16,871 --> 00:16:18,167 money in retirement 427 00:16:18,718 --> 00:16:21,189 and a lot of this kind of came 428 00:16:21,189 --> 00:16:23,362 out, there's been a several different articles 429 00:16:23,819 --> 00:16:25,992 with some recent research from 430 00:16:26,701 --> 00:16:27,201 David 431 00:16:28,051 --> 00:16:29,345 And Michael think 432 00:16:29,798 --> 00:16:32,815 where they kind of decided while they did 433 00:16:32,815 --> 00:16:36,008 some research on retirees and found that of 434 00:16:36,008 --> 00:16:39,854 retirees that had annuities tended to spend more 435 00:16:40,470 --> 00:16:42,643 or not it been 436 00:16:43,113 --> 00:16:45,734 which retiree yeah didn't necessarily have an annuity. 437 00:16:45,893 --> 00:16:47,482 My frame in that right? We... Or we 438 00:16:47,482 --> 00:16:50,024 should we should just clarify that when you 439 00:16:50,024 --> 00:16:52,169 say spend more, we mean in a healthy 440 00:16:52,169 --> 00:16:52,328 way. 441 00:16:53,296 --> 00:16:55,840 Mh. Not overs spending. What he's... What they're 442 00:16:55,840 --> 00:16:57,294 getting at is 443 00:16:58,066 --> 00:16:59,417 well, we should back up and frame it 444 00:16:59,417 --> 00:17:01,741 a little different maybe that we tend to 445 00:17:01,741 --> 00:17:05,650 see retirees, retirees at higher financial planners, don't 446 00:17:05,650 --> 00:17:08,521 spend to don't tend to spend enough of 447 00:17:08,521 --> 00:17:10,515 their money if you will. As low sure. 448 00:17:11,088 --> 00:17:11,748 Or it's 449 00:17:12,206 --> 00:17:14,122 reluctant to spend as much as they could. 450 00:17:14,441 --> 00:17:15,958 I think it's is maybe the best way 451 00:17:15,958 --> 00:17:17,634 to put it, not that we would encourage 452 00:17:17,634 --> 00:17:19,525 overs spending, but just 453 00:17:19,962 --> 00:17:22,745 maybe are cutting themselves short of from doing 454 00:17:22,745 --> 00:17:24,813 things they'd wanna do because they're afraid of 455 00:17:24,813 --> 00:17:25,449 overs spending. 456 00:17:26,085 --> 00:17:28,249 Yeah. You and I both have clients, who 457 00:17:28,249 --> 00:17:30,244 could spend more than what they currently do, 458 00:17:30,962 --> 00:17:33,218 and choose not to. And, you know, sometimes 459 00:17:33,516 --> 00:17:35,751 there's good reason for that, and sometimes like 460 00:17:35,751 --> 00:17:38,153 you said that's a fear or a concern 461 00:17:38,153 --> 00:17:38,653 of 462 00:17:39,107 --> 00:17:41,492 making sure they have enough when we can 463 00:17:41,492 --> 00:17:43,401 kinda already see that they're gonna to have 464 00:17:43,401 --> 00:17:45,324 more than enough. Right? So And so what 465 00:17:45,324 --> 00:17:47,472 what they're getting at here is if if 466 00:17:47,472 --> 00:17:50,495 you're getting a paycheck from an annuity, 467 00:17:51,131 --> 00:17:54,012 and instead of having to withdraw money from 468 00:17:54,012 --> 00:17:55,467 an investment portfolio 469 00:17:56,002 --> 00:17:58,492 or take money out of savings, the psychology 470 00:17:58,789 --> 00:18:02,077 is different and frees you up to spend 471 00:18:02,077 --> 00:18:05,034 more from a from a psychological standpoint, not 472 00:18:05,034 --> 00:18:07,751 necessarily changing the math, just changing the the 473 00:18:07,751 --> 00:18:09,844 way you look at the money I take 474 00:18:09,844 --> 00:18:12,721 this to mean not everybody needs an annuity, 475 00:18:13,200 --> 00:18:15,139 but maybe we need to think about 476 00:18:15,997 --> 00:18:18,256 and be conscious of how we're categorizing, 477 00:18:18,889 --> 00:18:20,796 our money. As a practitioner, 478 00:18:21,749 --> 00:18:24,292 I can see taking this to the step 479 00:18:24,292 --> 00:18:26,929 of saying, okay, what if we were to 480 00:18:26,929 --> 00:18:29,574 take this part of your portfolio and just 481 00:18:29,630 --> 00:18:30,981 take it off the board. So you don't 482 00:18:30,981 --> 00:18:32,967 even think about it and send you a 483 00:18:32,967 --> 00:18:35,692 paycheck. From it. Right. How would that change 484 00:18:35,692 --> 00:18:37,128 your your point of view, 485 00:18:37,846 --> 00:18:40,420 Whether we literally do that or not, would 486 00:18:40,478 --> 00:18:41,914 remain to be seen or it would depend 487 00:18:41,914 --> 00:18:42,733 on the circumstances 488 00:18:43,604 --> 00:18:46,481 Right. And that's, you know... So Christine gave 489 00:18:46,481 --> 00:18:49,917 4 different 5 different options actually, and 1 490 00:18:49,917 --> 00:18:51,676 of those was like, have your... Work with 491 00:18:51,676 --> 00:18:53,448 your adviser or have them you what you're 492 00:18:53,448 --> 00:18:55,840 spending limits are and, you know, have them 493 00:18:55,840 --> 00:18:57,515 kinda dole it out to. Right? And don't 494 00:18:57,515 --> 00:18:59,509 worry about it. The other 1 was obviously 495 00:18:59,509 --> 00:19:01,344 the annuity which came from some of the 496 00:19:01,344 --> 00:19:03,985 research that we talked about couple other options. 497 00:19:04,223 --> 00:19:06,788 You could tilt your portfolio more towards current 498 00:19:06,844 --> 00:19:09,067 income production and just take the income piece 499 00:19:09,067 --> 00:19:11,846 of it. Could also tie your portfolio withdrawals. 500 00:19:12,419 --> 00:19:14,255 Portfolio performance. So if you had a really 501 00:19:14,255 --> 00:19:15,772 good year, you could take more of that 502 00:19:15,772 --> 00:19:16,091 year, 503 00:19:16,650 --> 00:19:18,188 and that might help from a psychological 504 00:19:18,566 --> 00:19:20,184 spend or standpoint 505 00:19:20,721 --> 00:19:21,461 and then 506 00:19:22,013 --> 00:19:24,794 plan for spending to trend down. And so 507 00:19:24,794 --> 00:19:27,020 what she means by that is, like, yes, 508 00:19:27,258 --> 00:19:29,380 when you're early on in retirement, you can 509 00:19:29,499 --> 00:19:31,805 spend a little bit more because your plan 510 00:19:31,805 --> 00:19:34,269 is eventually, that spending will go down. I've 511 00:19:34,269 --> 00:19:37,291 been I've been actually thinking about this topic. 512 00:19:37,624 --> 00:19:39,855 Quite a bit lately from another point of 513 00:19:39,855 --> 00:19:41,687 view. And I... And why I think this 514 00:19:41,687 --> 00:19:43,440 is gonna be 1 we're gonna probably come 515 00:19:43,440 --> 00:19:45,671 back to here in the near future as 516 00:19:45,671 --> 00:19:47,127 of an expanded topic 517 00:19:47,518 --> 00:19:49,268 Because while, you know, like, as you just 518 00:19:49,268 --> 00:19:50,860 said, a lot of our clients don't spend 519 00:19:50,860 --> 00:19:53,406 as much as they could already, and they're 520 00:19:53,406 --> 00:19:55,567 basing that on us, and what we've been 521 00:19:55,567 --> 00:19:57,710 telling them they can spend. And then I'm 522 00:19:57,710 --> 00:19:59,798 seeing research from very good 523 00:20:00,250 --> 00:20:02,632 people I trust us industry saying we're being 524 00:20:02,632 --> 00:20:04,867 too conservative a lot of the time. You 525 00:20:04,867 --> 00:20:06,531 know? Oh, right. You know, 526 00:20:07,561 --> 00:20:07,957 it's 527 00:20:08,432 --> 00:20:08,932 it's 528 00:20:09,383 --> 00:20:10,517 interesting conundrum 529 00:20:11,303 --> 00:20:13,138 that deserves some a lot of a lot 530 00:20:13,138 --> 00:20:15,132 of thought from from both the industry and 531 00:20:15,132 --> 00:20:16,329 then our clients as well. 532 00:20:17,286 --> 00:20:19,611 Future podcast alert. This is probably something We'll 533 00:20:19,611 --> 00:20:21,522 take a deeper dive into, but I thought, 534 00:20:21,920 --> 00:20:23,750 Christine did a great job of kinda laying 535 00:20:23,750 --> 00:20:25,104 out some of the basics. And some of 536 00:20:25,104 --> 00:20:27,590 the things that best we've had conversations on 537 00:20:27,590 --> 00:20:29,105 and need to kind of do a deeper 538 00:20:29,105 --> 00:20:31,338 dive in as well. So... Right. Right. 539 00:20:32,216 --> 00:20:32,716 Our 540 00:20:33,332 --> 00:20:36,559 last article here, Dave comes from 541 00:20:37,331 --> 00:20:40,750 Scott Rick, and he actually wrote a book 542 00:20:40,750 --> 00:20:43,715 on this topic as well, but that is 543 00:20:44,343 --> 00:20:46,116 the topic of spending 544 00:20:46,570 --> 00:20:48,638 and, you know, 1 of the interesting things 545 00:20:48,638 --> 00:20:50,866 and this is just an article preview the 546 00:20:50,866 --> 00:20:51,025 book. 547 00:20:51,679 --> 00:20:53,276 So if you're... You wanna read the full 548 00:20:53,276 --> 00:20:54,874 book, you can start with the article and 549 00:20:54,874 --> 00:20:55,593 see how that goes. 550 00:20:56,711 --> 00:20:58,801 But it's kind of trick thing where, you 551 00:20:58,801 --> 00:21:01,664 know, there's some research around spending that and 552 00:21:01,664 --> 00:21:03,812 and kind of lays it out where everyone 553 00:21:03,812 --> 00:21:07,009 experiences the pain of pain. Right? Right. And 554 00:21:07,009 --> 00:21:10,351 the difference being that people who don't experience 555 00:21:10,351 --> 00:21:12,738 enough pain are what we would deem as 556 00:21:12,738 --> 00:21:15,697 a spun thrift. Right? Mh. And people that 557 00:21:15,697 --> 00:21:18,164 experience too much pain are what we would 558 00:21:18,164 --> 00:21:20,574 deem a tight watt. Right? So someone who 559 00:21:20,631 --> 00:21:22,398 will technical germany. Yes. Yes. 560 00:21:23,035 --> 00:21:25,606 And then what I love about this is 561 00:21:25,743 --> 00:21:27,974 this that neither are happy with how they 562 00:21:27,974 --> 00:21:31,733 handle money. Okay. Yeah. Yeah. Everybody's miserable. You're 563 00:21:31,733 --> 00:21:32,930 1 or the other in an end you're 564 00:21:32,930 --> 00:21:34,445 miserable regardless. Right? 565 00:21:35,961 --> 00:21:37,955 And so it's just a very interesting. I've 566 00:21:37,955 --> 00:21:39,789 always long stated of that, you know, you're 567 00:21:39,789 --> 00:21:41,246 either a saver or responder 568 00:21:41,559 --> 00:21:43,799 Mh. There's usually not a lot of people 569 00:21:43,799 --> 00:21:46,359 that manage those things well and fall towards 570 00:21:46,359 --> 00:21:48,599 the middle naturally. Like, there's things that you 571 00:21:48,599 --> 00:21:51,492 can do to recognize your behavior a push 572 00:21:51,492 --> 00:21:53,164 yourself more of the middle, but from a 573 00:21:53,164 --> 00:21:55,416 natural standpoint, we just don't see people 574 00:21:55,793 --> 00:21:57,943 who can naturally balance both of those things. 575 00:21:58,102 --> 00:21:59,775 They typically fall on 1 camp for the. 576 00:21:59,869 --> 00:22:02,036 The other. Yeah. And and, you know, and 577 00:22:02,489 --> 00:22:05,902 anecdotally, that fits with our experience while I 578 00:22:05,902 --> 00:22:07,727 shouldn't speak for you It fits with my 579 00:22:07,727 --> 00:22:08,124 experience. 580 00:22:08,601 --> 00:22:11,482 The other, as a financial planner that people 581 00:22:11,482 --> 00:22:13,872 people are either either are spending too much 582 00:22:13,872 --> 00:22:15,703 or spending too little and the people that 583 00:22:15,703 --> 00:22:17,000 are in the middle and healthy 584 00:22:17,869 --> 00:22:20,738 spending the right amount our are few. Yeah. 585 00:22:20,978 --> 00:22:22,275 So it's just an interesting, 586 00:22:22,731 --> 00:22:24,325 you know, way to frame that a lot 587 00:22:24,325 --> 00:22:25,760 of research behind it. 588 00:22:26,413 --> 00:22:29,045 Which with I thought was great, and, you 589 00:22:29,045 --> 00:22:31,119 know, I really, like, just like, some of 590 00:22:31,119 --> 00:22:32,555 the other stuff we talked about, dave. The 591 00:22:32,555 --> 00:22:35,665 first step is, like, identifying that, hey. 592 00:22:36,238 --> 00:22:37,670 This is me. This is... These are the 593 00:22:37,670 --> 00:22:39,102 things that need to look out with because 594 00:22:39,102 --> 00:22:40,772 that's the best way to kind of get 595 00:22:40,772 --> 00:22:42,624 through and understand 596 00:22:43,173 --> 00:22:45,319 why you have so much pain around spending, 597 00:22:45,478 --> 00:22:48,498 and then maybe you can work to change 598 00:22:48,498 --> 00:22:50,167 that and have a little bit less pain 599 00:22:50,167 --> 00:22:52,724 when you... Spend. So... Yeah. Super interesting. 600 00:22:53,200 --> 00:22:55,185 Probably more to come on that 1. I 601 00:22:55,185 --> 00:22:57,726 actually just ordered the book. And we'll bring 602 00:22:57,726 --> 00:22:59,711 back our vantage a book review. It's been 603 00:22:59,711 --> 00:23:01,241 a long I think that'd be a good 604 00:23:01,241 --> 00:23:03,476 idea, especially in this case. And 605 00:23:04,433 --> 00:23:06,269 yeah. So I do have a bit of 606 00:23:06,269 --> 00:23:07,705 a surprise for you today, Dave. 607 00:23:08,358 --> 00:23:11,787 We on this podcast and, you know, have 608 00:23:11,787 --> 00:23:15,057 been talking about inflation a lot lately. And 609 00:23:15,057 --> 00:23:16,971 this seems to be on everybody's mind. The 610 00:23:16,971 --> 00:23:17,210 feds, 611 00:23:17,783 --> 00:23:19,217 and every day we can find a new 612 00:23:19,217 --> 00:23:20,492 article on inflation. 613 00:23:21,209 --> 00:23:23,461 So I actually brought you 614 00:23:23,837 --> 00:23:24,529 the deep 615 00:23:25,366 --> 00:23:27,916 deflation breakdown for June of 20 24. 616 00:23:28,952 --> 00:23:31,343 Okay. This isn't this on you. This was 617 00:23:31,343 --> 00:23:31,981 not on our list. 618 00:23:33,351 --> 00:23:35,344 I've got a list of things that actually 619 00:23:35,344 --> 00:23:37,736 went down in price year over year from 620 00:23:37,895 --> 00:23:40,527 June of last year. Alright? Care to take 621 00:23:40,527 --> 00:23:43,162 a guess. At what some of the top 622 00:23:43,162 --> 00:23:44,987 items on my list here are. 623 00:23:47,683 --> 00:23:48,873 Boy. I'll give you a hint. 624 00:23:49,842 --> 00:23:51,831 First category is food at home. 625 00:23:52,627 --> 00:23:55,333 Okay. Food at home. Has gone down over 626 00:23:55,333 --> 00:23:58,596 the last. Yep. Okay. So, here that's Sick. 627 00:23:59,408 --> 00:24:00,684 Specific types of food, 628 00:24:01,242 --> 00:24:03,556 we actually get down to the actual level. 629 00:24:04,114 --> 00:24:06,108 So any guess on what has gone down 630 00:24:06,108 --> 00:24:07,703 the most in terms of food. 631 00:24:09,232 --> 00:24:11,380 Eggs are not on my list. 632 00:24:12,812 --> 00:24:14,721 I I haven't looked at the price eggs 633 00:24:14,721 --> 00:24:16,486 lately, but I know what you're. Everybody was 634 00:24:16,486 --> 00:24:18,472 talking about how bad Alright have have gotten. 635 00:24:18,631 --> 00:24:20,538 So that was that was just me playing 636 00:24:20,538 --> 00:24:22,445 the ying and yang of what goes up 637 00:24:22,445 --> 00:24:24,052 must come down. Show It's a good guess. 638 00:24:24,371 --> 00:24:26,206 Actually, your first guess is on my list. 639 00:24:26,445 --> 00:24:26,945 Gasoline. 640 00:24:27,721 --> 00:24:30,273 Automotive regular gasoline is down 2.6 641 00:24:30,273 --> 00:24:32,347 percent since June of last year. So Yeah 642 00:24:32,427 --> 00:24:33,145 You got that 1. Right? 643 00:24:33,957 --> 00:24:34,834 Knocked it out of the park. 644 00:24:35,871 --> 00:24:36,690 The top 645 00:24:37,545 --> 00:24:38,183 food at home, 646 00:24:38,900 --> 00:24:41,691 deflation is actually apples are down 12 percent, 647 00:24:41,850 --> 00:24:43,304 the year compared to last year. 648 00:24:44,264 --> 00:24:46,184 So there buy a lot of apples. I 649 00:24:46,184 --> 00:24:48,504 should've known that. Apple a day keeps the 650 00:24:48,504 --> 00:24:50,825 doctor away. And now it's even cheaper. Yeah. 651 00:24:51,397 --> 00:24:53,461 Some other items, of, food items that have 652 00:24:53,461 --> 00:24:56,556 gone down hand, down 4.3 percent. Potatoes down 653 00:24:56,556 --> 00:24:57,349 3.9, 654 00:24:57,984 --> 00:24:59,412 rice down 2.4. 655 00:25:00,300 --> 00:25:00,800 Cheese, 656 00:25:01,174 --> 00:25:02,127 2.1, 657 00:25:02,682 --> 00:25:04,429 coffee, 1.7. 658 00:25:04,826 --> 00:25:07,049 So there is there is some hope out 659 00:25:07,049 --> 00:25:08,716 there. Some light interesting. 660 00:25:09,368 --> 00:25:12,239 Interesting. Well, you know, to that to that 661 00:25:12,239 --> 00:25:14,632 end, we don't want general deflation. 662 00:25:16,307 --> 00:25:17,822 So Just on the just on the items 663 00:25:17,902 --> 00:25:19,909 I need to buy next. Just... Yeah. Just 664 00:25:19,909 --> 00:25:21,183 it'd be nice to go to the grocery 665 00:25:21,183 --> 00:25:22,957 store this afternoon and and seal. 666 00:25:23,572 --> 00:25:23,731 Yeah. 667 00:25:24,846 --> 00:25:27,155 So some other items on my list. 668 00:25:27,970 --> 00:25:31,109 Telephone hardware and calculators down 12 percent 669 00:25:31,490 --> 00:25:33,670 were washed calculated. When when. 670 00:25:34,210 --> 00:25:35,970 Well, when was the last time you bought 671 00:25:35,970 --> 00:25:39,353 a. Standalone calculator in the world of smartphones 672 00:25:39,809 --> 00:25:40,866 and computer 673 00:25:41,481 --> 00:25:42,915 wow. I had to get my daughter a 674 00:25:42,915 --> 00:25:44,610 graph calculator for 675 00:25:45,479 --> 00:25:47,070 high in high school a couple of years 676 00:25:47,070 --> 00:25:48,582 ago. So... Yeah. Okay. 677 00:25:49,298 --> 00:25:51,128 Let's see. That was dishes. I was gonna 678 00:25:51,128 --> 00:25:52,615 say the cf if key exam is probably 679 00:25:52,814 --> 00:25:53,712 keeping the calculator 680 00:25:54,887 --> 00:25:56,105 industry exactly. 681 00:25:57,598 --> 00:26:00,469 Dish dishes is flat down 10 percent, to 682 00:26:00,469 --> 00:26:03,514 use car and t. Actually down 10.1 683 00:26:03,514 --> 00:26:05,428 percent. So that doesn't I should have guessed 684 00:26:05,428 --> 00:26:06,225 that. Mh. 685 00:26:07,102 --> 00:26:10,611 And men's suits down 9 plus 4 percent. 686 00:26:10,850 --> 00:26:13,098 It's Well, maybe we'll, I have to step 687 00:26:13,098 --> 00:26:15,171 up our dress code for the office now 688 00:26:15,171 --> 00:26:17,644 that it's more affordable. My floral shirt isn't 689 00:26:17,644 --> 00:26:19,579 cutting hands. Is that what saying You know 690 00:26:19,797 --> 00:26:21,964 go wanna just throw code over that? Maybe 691 00:26:21,964 --> 00:26:22,283 a time. 692 00:26:24,355 --> 00:26:25,789 We'll. Tune in Next week. 693 00:26:26,825 --> 00:26:27,940 Youtube to see if I 694 00:26:28,577 --> 00:26:31,140 take advantage of the men's suit. Being down 695 00:26:31,140 --> 00:26:32,092 90.4 696 00:26:32,092 --> 00:26:34,632 percent. You probably just doubled our listeners partnership 697 00:26:34,632 --> 00:26:35,347 right there, Nick. 698 00:26:37,648 --> 00:26:38,148 Shall. 699 00:26:38,601 --> 00:26:41,478 So it's as always, Dave been a pleasure. 700 00:26:41,637 --> 00:26:43,228 That's all we have for today, 701 00:26:43,864 --> 00:26:46,330 our listeners have any articles you would like. 702 00:26:46,584 --> 00:26:48,500 Us to read and give our opinion on. 703 00:26:48,660 --> 00:26:49,458 We'd love to hear him. 704 00:26:50,257 --> 00:26:51,135 Send us 705 00:26:51,694 --> 00:26:54,429 an email at info at SRB 706 00:26:54,488 --> 00:26:55,845 advisors dot com. 707 00:26:56,499 --> 00:26:58,090 Dave has always been pleasure. 708 00:26:58,727 --> 00:26:59,204 Thanks, Nick. 709 00:27:00,955 --> 00:27:03,423 Gather round and follow the kitchen table finance 710 00:27:03,423 --> 00:27:06,066 podcast. To learn about money in simple ways 711 00:27:06,066 --> 00:27:08,456 you can invest right now. You can find 712 00:27:08,456 --> 00:27:11,338 more practical advice at Sr advisors, doctor dot 713 00:27:11,338 --> 00:27:14,361 com and contact the team for personal planning 714 00:27:14,361 --> 00:27:17,543 by emailing info at s sr advisors dot 715 00:27:17,543 --> 00:27:18,154 com a 716 00:27:30,152 --> 00:27:32,537 This is a cd media production.