00:00
Peter Dunn
Some days you just feel way too lazy to run the preshow animation that gets everyone fired up and knowing that the show starts. I'm Peter Dunn. Pete the planner, host of the Pete the planner show, joined by Damian Dunn. Hello, Dame.
00:14
Damian Dunn
Hello, Pete.
00:16
Peter Dunn
I just honestly, there's seven buttons I think I have to press to run the animation to start the show, and I just didn't have the energy today.
00:24
Damian Dunn
If someone in our audience would like to reach out to us to streamline and make this just one button that Pete has to click, one piece of audio visual entertainment to make things just that much easier for Pete, we'll probably ignore it.
00:41
Peter Dunn
So, Dame, big show today. Here's what we've got on the show. We have got stories from the road returns. I started my journeys on the road as a business traveler once again for the first time in well, since February of 2020. So the stories are fired up. I've got some fun things to share with you. We're going to talk about open enrollment today. The biggest missed opportunity in most people's financial lives, a stock market check in. We'll see where we are this week or this year so far on the stock market. And then some listener emails. How's that sound?
01:19
Damian Dunn
That sounds delicious.
01:20
Peter Dunn
Oh, it does sound delicious, Dame. Oh, my gosh. So much to talk about since we last gathered. We took labor day weekend off. And so you have a good labor day. You were at your car festival thing.
01:37
Damian Dunn
I did. Our town has our little car festival going on. Well, did. And it was great. It was beautiful weather until Saturday night when we got a little bit of rain. But good times were had by all.
01:49
Peter Dunn
Fantastic. I was in Chicago with a little family gathering. I will say this, we took the architectural boat tour, which every time you talk to someone about going to Chicago, they'll say, I took the architectural boat tour and it was amazing. And you're thinking, and then I went on it and it was amazing. And now I'm going to be the obnoxious person that tells everyone it's amazing.
02:10
Damian Dunn
Did the kids enjoy it, though?
02:12
Peter Dunn
They did.
02:13
Damian Dunn
Really?
02:14
Peter Dunn
Yeah. Because you're on a boat, you're out in the water. My daughter was throwing pretzels at fish. She said she saw, but she did not.
02:24
Damian Dunn
You can't see underneath that water.
02:26
Peter Dunn
Yeah. I don't know. I'm not a doctor, but we had a good time. And then Dame, as we get in the show here today, maybe after the first segment, a new entry into the travel stories of Pete and boy, this is a doozy. This is doozy. Who started off strong.
02:42
Damian Dunn
I can't wait.
02:44
Peter Dunn
All right. Want to get started here?
02:48
Damian Dunn
No time like the present.
02:49
Peter Dunn
Pete, look, you just popped in the Facebook live comments. Kelsey Taylor, personal trainer to the stars. I'm on a boat, she says. Kelsey is my friend, used to be my Personal Trainer. She is fantastic and much stronger than you and I combined.
03:07
Damian Dunn
Yeah. I feel like I'm just even more out of shape knowing she's watching.
03:11
Peter Dunn
Yeah. No, she's incredible. Hello, Kelsey. All right, here we go. What are we talking about? We're starting with open enrollment. Open enrollment. Let's start there. Okay, let me get ready to go here. You take a week off of the show? Dame. We take a week off and it feels like I don't even know how anything works anymore. Here we go. It's an important piece there. All right, in three, two, one. This week on The Pete the Planner Show we answer your money questions. Here's how the show works. You email us? Askpete@petetheplanner.com that's. Askpete@petetheplanner.com. Then maybe we'll answer your question on the air. Joining me, as always, is Damian Dunn, vice president of advice at Your Money Line and Hey Money. Hello, Dame.
04:01
Damian Dunn
Hello, Pete.
04:02
Peter Dunn
Oh, it's good to be back with you, Dame. Very exciting news in the world of the Pete the Planner radio show. We added some new affiliates this week. Anderson, Indiana's. Whbu, which is part of the Woof Boom Radio Group, joins us starting this weekend. So hello to the people of Anderson. I'm currently just taking myself mentally down Scatterfield Road, being with all of you in Anderson, Indiana. Woof Boom. Look, here's the thing. There's a lot of radio groups out there. Woof Boom might be my favorite name for a radio group I think I've seen.
04:37
Damian Dunn
I think it's amazing.
04:38
Peter Dunn
It's really good. It's one of those things where you take two words and you make one word out of it, but they're not actually, it's not one word, but it is now. Woof Boom.
04:47
Damian Dunn
Yeah, I'll take it.
04:48
Peter Dunn
It's like if it were Be the Planner. But it's not. Dame. So we are amongst one of my favorite times of year. And no, I Don't Mean to start a football season, although It is and no, I Don't mean ginger's paradise where the sun starts to get less hot and fall Is upon us, although I do enjoy that. I'm talking about open enrollment. Yes, I'm the sort of boring, dull individual that loves the concept of benefits. Election time within your workplace. Dame it occurred To Me recently because I've had some Time to kill on the road. I think People really do a Disservice to themselves out of the boredom they feel around Their employee benefits, so therefore they don't take them seriously. They don't do the right research, they don't make good decisions. And that becomes problematic not Only in the year in which they make the election, but for years to come.
05:44
Peter Dunn
Am I wrong?
05:45
Damian Dunn
No, you are not wrong. I Mean, think about what this process Is like, and Maybe you've blocked it out of your head if you've gone through it before, but You Are given A booklet full of all sorts of options. If your employer provides all sorts of fringe benefits or different health plans. And then you are tasked to go through this incredibly tough read to try and figure out which option is best for your family. It's very common just to say, you know what? We were okay last year. Let's just punt and keep that same plan or the same menu of benefits that we had last year going forward into this year. And in reality, you may be missing out on potentially thousands of dollars of savings if you were to take the time to look and see what's available to you.
06:35
Peter Dunn
Now, at any point in the year, generally speaking, you can make changes to your benefits at work via the retirement plan. You can go in and increase your contributions or decrease your contributions, but any time of the year. For most plans, however, it's just this one time of year where you have to make decisions around your health insurance, around life insurance, disability, or even different benefits like that. Now, Dame, I think most of the mistakes begin around health insurance elections, and it usually goes something like this. My company allows us to have a traditional PPO style health insurance plan in which I have a copay and a small deductible, and the plan covers most anything I would have. So that is sort of the traditional way of doing things. But now I have an option. This is me playing a character. Let's name the character.
07:23
Peter Dunn
His name is Steve.
07:24
Damian Dunn
Steve.
07:25
Peter Dunn
Now, I have the option to have what's called a high deductible health insurance plan along with an HSA or a health savings account. And this may appeal to me as someone who has never seen this before, because the monthly premiums are significantly lower. And so if I don't take the time to do the research on what could otherwise be a good idea, it could end up being a bad idea. And why is that, my friend?
07:48
Damian Dunn
Well, if you're going to start investing into an HSA or saving into an HSA that is paired with a high deductible health care plan, if you are a family that goes to the doctor frequently or maybe has some very high cost prescriptions, things of that nature, stuff that you know you're going to need and use the high deductible side of that equation might be a big surprise for you going forward. So if you're going to start participating in an HSA, which, Pete, I know you and I are both very much in favor of, make sure you understand everything that goes along with that. If you are a younger family or a younger individual, doesn't visit the doctor very often, relatively healthy, you don't engage in super risky behavior, jumping out of planes or riding a mountain bike through a densely populated forest. Jeez it happens.
08:45
Damian Dunn
I've seen many people take a header into a tree. It's not pretty. Then high deductible health care plan and HSA might be just what the doctor ordered.
08:55
Peter Dunn
Your employer typically wants you to have an HDHP and the reason is because the premiums are lower and some of those costs are passed on to you based on your own behavior and decisions and wellness. And to be very frank, I feel like most people, assuming you are blessed with reasonable health, should go with the high deductible health care plan with an HSA, because it promotes both good health care decisions, but it promotes really good financial decisions as well.
09:28
Damian Dunn
Absolutely. You are preparing for the future as well as covering the present with a high deductible health care plan and HSA paired together. Your immediate needs are going to be taken care of should something unfortunate happen to you or your family. But if you're able to take advantage of the HSA side of things, you're going to build a very nice nest egg for future health care expenses. And regardless of how healthy you are now, there's a very good likelihood you're going to need some extra cash for health care at some point in the future, probably in retirement, if not a little bit sooner.
10:01
Peter Dunn
The other two benefits elections made during benefits election season, or open enrollment, as they call in the biz, are life insurance and disability insurance dame. I don't believe a person's only life insurance should be through their employer group life insurance. However, that being said, it is generally incredibly inexpensive and can be a great play to get your life insurance levels to where they need to be. I guess I'll say this, I think there's just a general misunderstanding of life insurance in general, and that extends to people making benefits elections in the workplace.
10:38
Damian Dunn
Yeah, occasionally, life insurance offered through your employer can be what's called portable. In other words, if you were to separate from service from your employer, you may be able to retain that coverage. But oftentimes once you separate working there, whether it's your choice or theirs, that coverage is going to stop. So if the bulk of your life insurance is coming from your employer plan, yeah, it's cheap, but it may not be there when you need it in the future. So yeah, it can be a nice little garnish to your overall life insurance plan, but in most cases it's not going to be good enough to have it be the core of your life insurance plan.
11:15
Peter Dunn
I like the use of garnish since we're talking about taking wages out of your paycheck to pay for things. Yet you meant it is basically the Italian parsley or actually the curly parsley that sits on your plate at a restaurant. Now, disability insurance is the last thing that people generally mess up and it's because they just don't think they need it, which is sort of weird because you're more likely to be disabled in your working years than to pass away in your working years. So theoretically, disability insurance is more important than life insurance, but that doesn't mean you should choose one or the other. It just means you should pay attention and make sure you have disability insurance.
11:51
Damian Dunn
Typically disability, especially through an employer plan, is going to be pretty darn affordable. I think the rub comes that a lot of people don't understand how it works and they're not entirely sure how a short term disability policy might come into play for certain instances or illnesses. And what in the world does a long term policy mean and how much coverage am I going to get? So it really behooves YouTube. Take the extra time to make sure you understand that offering because I agree disability is probably going to come into play way more often for the average employee than the life insurance.
12:26
Peter Dunn
I tell this story every time we talk about disability insurance, but actually, about two weeks ago was the 20th anniversary or I think it was 20th anniversary of the passing of my dad's best friend and who had a condition in his later years that the only way he was able to provide for his family is because he was such a believer in disability insurance that it still allowed him to continue his financial plan. So every time I think about life insurance or disability, I should say I think about that gentleman. Dame coming up after the break, we're taking a look at the stock market. We are weighing in our predictions from earlier this year and just see where we are. That's all next on the Pete the Planner show. I'm Pete the planner. You know how out of practice. So we took a week off because were on vacation or whatever.
13:08
Peter Dunn
I almost hit stop broadcast just now. It should have been magical. Hello. Mike says hopefully I made a stop at Portillos. I did not stop at Portillos. I did stop at a place called it was a beef stand and I got to think of the name of it and it was delicious and I had Italian beef. So thank you for asking. I did go to a barbecue place in Texas which begins our story time this week. Dame for those that don't know business travel is wild. It's a very strange thing because you're both a part of it, but it's just 7 hours of people watching. And if you're like me, you don't talk to anyone during this time. You have on headphones, you have a hat pulled over your eyes, you just wish you weren't there and you just go from one place to another.
14:01
Peter Dunn
So dame last night on my flight home, this was from DFW, Dallas Fort Worth Airport to Detroit because I was flying Delta. So you have to fly through Detroit or Atlanta or Minneapolis to get home. Anyway, I flew through Detroit and as we're getting on the flight, it occurred to me that we had a very loquacious flight attendant. Like a very loquacious flight attendant. Deem I love to hear my own voice. Let's just be honest here. I like to talk. I find myself engaging. But generally speaking, when you pair that with reading the room, you're going to be okay.
14:42
Damian Dunn
Sure.
14:43
Peter Dunn
But if you're a very loquacious person that doesn't know how to read the room, then, oh, my Lord, dame, it can be a disaster. So here's what we had last night. It's a long day of work, the start of the business, travel to start the evening, and this flight attendant loved her own voice. And so this is Delta. This isn't Southwest, where you're encouraged to really yuck it up and try your stand up material. This is hey. So she came on during the boarding process five times and gave the same spiel about clearing the aisle, but she would embellish it. She were like, So make sure that you pull your bag in the aisle so you don't trip people with your bag strap, your purse, your purse strap. And so she would list, like, 15 things really fast just to go on so it'd be funny.
15:40
Peter Dunn
And the first time she did it, that's neat. But then she did it four more times. And then as the flight went on, this two hour plus flight, every time she would go on and give the pertinent reading of what she was supposed to say, she would do another one of these crazy lists. But the list kept growing in length. Like, at one point she was like, so you need to turn off your iPhone two, iPhone three, iPhone four, iPhone five, iPhone six, iPhone seven, iPhone eight F and nine F, nine X, iPhone XS, iPhone eleven. She was like, Android, Samsung. And it was like two minutes of her reading or doing this bit about this just crazy things. And it was minding, and you couldn't take off. I have noise canceling headphones. They don't cancel that out. And I'm watching a movie, but the movie kept stopping because she kept coming on and doing all these things.
16:36
Peter Dunn
And so then the pilot comes on right after her, and he goes, it was amazing. He goes, I'll make this brief. We will be there in 40 minutes. So you could tell he was crazy annoyed, like he was wanting to take the plane into a mountainside. He was upset. And then she did it again, and then he came out and goes, once again, I'll make this brief. Weather in Detroit is 54 degrees. And then there was it. And I was just thinking, I can't imagine how much he dislikes this person.
17:13
Damian Dunn
Do pilots know who the crew is going to be ahead of time? This is a question that I need to ask our pyramid friend.
17:18
Peter Dunn
Yeah, I have no idea. My gut says no. I think you just show up at the gate and then you see people and you're like, okay. Yeah, I don't think so.
17:31
Damian Dunn
Yeah, man, that's got to be rough because, you know, every carrier's got some crew that's kind of like we're working with them today.
17:43
Peter Dunn
But here's the thing. Coming out of this pandemic, I'm trying to extend a lot more grace to people and just not have this, like, they're cool, they're not just like everyone's going through their stuff.
17:54
Damian Dunn
Sure.
17:54
Peter Dunn
And I know this person was probably trying to bring joy, but there's still this concept of reading the room. At some point. There's a couple of people laughing, but most people are like me, just, like, shaking their head. I'm like, what are we doing here? Can we please stop with this?
18:10
Damian Dunn
I assume I shouldn't have done that. Were they even looking at the cabin, or were they tucked away and just talking into the phone?
18:20
Peter Dunn
Tucked away, talking into the phone. Just doing a bit. Right. If you're engaged, if you're looking at people in the eye and you can kind of play off the room and someone's going, so you're going, that's one thing. But it's like doing radio. Doing radio. That's why there are so many bits, because it's just like you can't get feedback from anyone.
18:42
Damian Dunn
Wow.
18:43
Peter Dunn
Anyway, welcome Wolf Boom Whbu, our new affiliate, anderson, who's not hearing this right now because this is the podcast. Dame, I have a really long day of production, so I need to get going here. Okay, good, solid first story of travel season, but we will follow that up well, next week's show because I'm going to be in California most of the week, and that should be interesting.
19:07
Damian Dunn
I think if you're ever on a flight with that particular employee again, you need to invite her on the show.
19:14
Peter Dunn
No. All right, in three, two, one. Back on the Pete the Planner show. Dame, I don't know if you know this. We recorded this show on September 10, 2021, which is, I don't know, more than eight months into the year, and you and I made some predictions, some stock market predictions. At the beginning of the year, you and I both said what we thought the S and P 500 would end up at, and then we also chose our winner for the year. Well, the year is not over quite yet. There's a lot to shake out, but we do have some early data and feedback to see what has happened. Dave, do you happen to remember your prediction for the S and P 500 for 2021?
20:00
Damian Dunn
If I remember correctly, I think I was in the 12% neighborhood somewhere, 1214 percent.
20:06
Peter Dunn
I got really aggressive, and I went 22% to 23%, somewhere in that range for the S and P 500 increase from a percentage standpoint in 2021. And so far, with several trading dates left in the year, we're up 19.83% on the S and P 500, which a less wise man would celebrate. But I know how this all works, and we could very well end up negative this year, depending on what goes on. But are you shocked to hear that we're just under 20% at this point, or does it sort of feel like a 20% year to you?
20:45
Damian Dunn
We've had a lot of positive activity, so I'm not terribly surprised that it's 20 ish percent, but the year is still young. I will never be happier to be wrong if my prediction of twelve to 14% is blown out of the water, but we do have some time on the calendar to go.
21:06
Peter Dunn
Now, the Nasdaq, which typically well, I shouldn't say this, but sometimes we'll run laps around the S and P 500 based on the makeup of that particular index. Do you have an idea of what you think it is up yet this year, or down? I guess I shouldn't hedge it.
21:21
Damian Dunn
If I remember correctly, I think the Nasdaq is lagging the SP this year, maybe by two or 3%.
21:28
Peter Dunn
That is about right. 18.79% as of early day trading on September 10, 2021. And the Dow, which I mean, people still look at the Dow, but it's sort of less significant as we get an idea of what the market is doing. Do you have an idea of what it has done this year?
21:49
Damian Dunn
This is a pure guess at this point. I'm going to guess that's closer to the 1415 range.
21:55
Peter Dunn
Yeah, nailed it. 13.85 exactly. All right, so then you and I made some very bold predictions as to which would be the hotness, we would be the great stock of 2021. To be fair, you and I are not stock pickers. We are not even investment advisors at this point in our careers while we are financial experts. This was for entertainment purposes only. Dame. You chose something called Thor Industries.
22:22
Damian Dunn
I did.
22:23
Peter Dunn
And what was your thought?
22:24
Damian Dunn
There a lot of people during the Pandemic with limited options to get away or go do something, chose to look into recreational vehicles, RVs, and go explore the great outdoors. And that carried over has carried over somewhat into this year, where you can't even get into some national parks because they're so crowded. So whenever we did the show in January or whenever we made these picks, I anticipated that to continue and people to want to be outdoors and be in control of their own travel. So Thor is one of the largest manufacturers of RVs in the country, and I decided, you know what, let's go with them. By the good Indiana company, by the.
23:08
Peter Dunn
Way, let's do what so many people love to do. To illustrate rather simple points in a very complicated way. Dame, let's say on January 1, 2021, you invested $10,000. You know, that's always the amount that these things do. They're always like, if you put $10,000 in Microsoft in 1991, why is it $10,000? Why is it always $10,000?
23:33
Damian Dunn
It's quicker to see really big gains, exponential gains on that. If you were to say $1,000, it doesn't look nearly as impressive. You go with $10,000.
23:41
Peter Dunn
That's true. 100,000 just is too much.
23:43
Damian Dunn
Yeah, 10,000 is still reasonable, and you can still see well, reasonable for some people, but you can see the exponential growth happen a lot faster with $10,000.
23:53
Peter Dunn
Dame, if you were to put $10,000 away on January 1, 2021 in Thor Industries, is that what it's called, thor Industries, which was your pick you would currently have? Are you ready for it, please. Dame, thor Industries year to date is up over 21%. You are beating the S and P.
24:17
Damian Dunn
500 at a solid. I am very happy with that pick.
24:21
Peter Dunn
Now, Dame, you may remember what I chose was Delta Airlines.
24:27
Damian Dunn
Oh, not delta, the variant.
24:29
Peter Dunn
Well, it has been a big year for Delta, just not Delta Airlines. And while I am arguably traveling a lot more on said airline, the year to date change for Delta Airlines has been let's just put it this way. If I were to invest $10,000 on January 1 of 2021, I would have enough money to keep my $10,000 and buy a value meal at Jack in the Box. It's up 0.5% on the year. So you are currently winning that contest.
25:10
Damian Dunn
I feel pretty confident that I'm going to cross the finish line in front of you on that one at the end of the year.
25:16
Peter Dunn
I have to say, I tend to be an optimistic person in some aspects of life, and I certainly was here sort of hoping that the travel industry would come back and you were like, okay, I feel you. But it's much more likely that people take care of their travel needs in a more personal way, which is a weird way to say it, but yeah.
25:39
Damian Dunn
No, people want to go and do and see and be a part of the world around them. And I just wasn't entirely convinced that the mass of people were going to be comfortable jumping back into hotels and airlines and Greyhound buses.
25:59
Peter Dunn
All right, so, Dame, I'm going to give you a chance with one quarter to go in this year, actually a quarter plus a month, what do you think will be the primary direction of the market between now and then the year? And just so everyone knows, do not act on this. This is just for fun. This is for entertainment purposes only. This is not investment advice. Dame, what direction do you see the market going for the rest of the year?
26:26
Damian Dunn
Flat I think it may peak a little bit, but it'll come back down and we'll finish around plus or -3%.
26:37
Peter Dunn
From where we are now from where we are now. Okay, so 16% to 22% is where you think we'll end up? Yes. Okay. I think we're heading down. I think we are going to actually end up closer to 7% for the year. I think we're going to lose significant. Yeah.
27:03
Damian Dunn
I apologize for asking you this question without asking it off air.
27:09
Peter Dunn
Why would you have to ask that off air. I can answer that on air.
27:13
Damian Dunn
Okay. What reasoning, what rationale do you have to have a major pullback?
27:20
Peter Dunn
My trick knee is telling me so. No, I just think I am no expert at this. I just think sort of geopolitically and socioeconomically. That's what's happening. I just feel like the direction of things. I think you look at the debt ceiling debacle, which is about to happen, I think that's going to take a lot of the steam out of the stock market, and I don't think it'll recover. Right. So I think when Congress has got to figure out whether to raise the debt ceiling or not, they will balk like they always do. They will take it down to the 11th hour. That will take a ton of gains off the market, and it's just not going to find its way back up after that. So that's the reason for my prediction.
28:06
Damian Dunn
But that's a solid reason. I just disagree with your reason.
28:10
Peter Dunn
I have to admit, sometimes I give you reasons for stuff and they're dumb. That's a reasonable reason.
28:15
Damian Dunn
Absolutely. I just don't think it'll happen.
28:19
Peter Dunn
All right, so mark our words. Just don't endure based on those words. Dame coming up after the break, we got some listener emails that we're going to go through about teen jobs, which I think is a pretty interesting thing. So we're going to hit that next. Then, of course, biggest waste of money of the week in news after that. I'm Pete the planner. This is the show. I don't know why I'm dragging this out so much today, given that I really am going to be here all day long. I don't know.
28:46
Damian Dunn
You're not dragging anything out. We enjoy spending some time with you. Just some, though.
28:52
Peter Dunn
Brian Pinkins, welcome to the show. Good to see you. All right. Dame you know what? I realized why I don't have tattoos. Do you want to hear this coming.
29:06
Damian Dunn
From the guy who just said, I don't know why I'm dragging this out? Yeah, let's hear why you don't have tattoos.
29:13
Peter Dunn
Wait, before do that, I have another travel story that just occurred to me on the flight from Dallas to Detroit. I'm in a row of three, right? Or a row of six across, three on the way. And I'm on the aisle, two big actual men sitting next to me, and the guy on the window has got one of those crazy looking elbow braces where it looks like a protractor is involved. It's just like you can tell something heinous happened to this guy's elbow. And I don't talk to anybody, so I'm just like, nod. But the nod I gave with my eyes, not my mouth, because it was covered, but my eyes were like, understanding and empathy, and I also don't want to talk to you. So then another guy comes and he sits in the middle between us, and this guy immediately starts in on the guy with the protractor brace elbow guy.
30:01
Peter Dunn
He. Goes ruptured bicep. And the guy goes, what's that now? He goes Ruptured Bicep. The guy's like, yeah, how do you know? And he's, like, did the same thing. So this guy turns and shows this scar how he had previously had the same injury. So, Dame, for 35 minutes, they are talking in the most graphic medical terms you have ever so then basically what happened was it tore. It just snapped when I was wakeboarding, and, like, a chunk of the muscle remained, and I was like, Guys. And somehow it's like, going through the noise canceling feature of the headphones, and it's, like, amplifying their graphic things. It was horrific. Anyway, the guy with the protractor elbow brace guy, he was tatted up. I mean, just tatted up, and it looked really cool. I was like, man, that guy looks he is so much cooler than me.
30:53
Peter Dunn
And no one would doubt that. And then I started thinking as I was trying to block out their medical procedures, why I don't have tattoos. Dave, do you know why I don't have tattoos? Do you know specifically?
31:05
Damian Dunn
There's one reason I don't think I do.
31:10
Peter Dunn
It's not about pain. Pain does not bother me. I have a very high pain threshold, except if I have a common cold, and that is hard. It's because I would feel like a poser based on the fact that the coroner at my death would look at my nude, dead body and say, just don't look right on him. And that is the single reason why I don't have tattoos, is because of the judgment of some coroner who will be involved with my life at some.
31:37
Damian Dunn
Point after death, I should say, yeah, after you're dead. After you're dead. While you're dead. Okay, so, well, let's just follow this down the road for another exit. If you were comfortable getting a tattoo yeah. Where and what?
31:59
Peter Dunn
I would get, like, one word, like, on my arm. But then it's not even about, like, what people think about me. It's just what the coroner would think about me.
32:07
Damian Dunn
Sure.
32:09
Peter Dunn
You know what I mean?
32:11
Damian Dunn
You can get them removed these days. Maybe that's just one of the last things that you have done. Maybe there's a post mortem tattoo removal service that goes on.
32:22
Peter Dunn
But there's something wrong with me that it's not about what the living what people think about me while I'm standing there in front of them. It's what this one random person who happens to be the corner thinks about me when I'm dead. That's why I won't get a tattoo. I'm not even doing a bit. Like, that's how I feel. It's weird.
32:40
Damian Dunn
That's odd. Let's start the show.
32:43
Peter Dunn
Okay, but anyway, I got to hurry.
32:47
Damian Dunn
Up, because if we have any psychologists in our audience, I would love to get analysis of that. Just send it to Ask Pete and let me know what you think is wrong with that was wakeboard.
32:58
Peter Dunn
It just popped and I was like, all right, looks like I'm just going for a boat ride the rest of the day. He's like, It was 09:00 A.m. On a Sunday, so they couldn't sew the muscle back. So it was just flopping around all week. And I'm like, Guys, I'm trying to enjoy a 1oz bag of rolled gold Pretzels here. They're complimentary from my last flight. Can we please pipe down with the gore? But he was tatted up, so I didn't want to step to him.
33:22
Damian Dunn
Maybe you were just jealous you didn't have a comparable injury to share.
33:26
Peter Dunn
I don't know. I tell you, I wear soccer cleats when I coach my daughter's soccer team. Have I told you this? Oh, boy.
33:33
Damian Dunn
No, I clearly haven't.
33:36
Peter Dunn
I got my first soccer coaching injury as one of our better players. I was challenging her, which sounds like it was like a street fight or like West Side Story, like a snapping dance fight. But no, it's just so were doing a little scrimmage. She stomped on the top of my boot, as you shall say, with her cleats, and it really hurt.
33:55
Damian Dunn
Yeah. Do you wear shin pads and long socks? No.
33:59
Peter Dunn
I mean, I'm too fleet of foot to get kicked in the shin by these little ladies. All right, last thing, because we got to move on. I was at Texas Christian University this week. That's why I was in Texas. I was doing a thing down there. Unbelievably beautiful campus. I knew nothing about TCU, literally nothing other than LaDanian Tomlinson went to TCU. That's about all I knew. And Andy Dalton, because he's a ginger, so I know these things. The Horned Frogs. Unbelievable place.
34:33
Damian Dunn
Really.
34:35
Peter Dunn
Beautiful place.
34:36
Damian Dunn
Going to spend some time on the Google later today looking at pictures of campus.
34:40
Peter Dunn
Also, very pricey tuition and fees just coming on, coming under. Just coming just under. How would you say that? $70,000 or so a year? Yeah. Back on the Pete the Planner show. Back on the Pizza Planner show. Thanks for sticking with us through that brief break. And again, a special welcome to new affiliate in Anderson, Indiana. Whbu, part of the Woof Boom Radio Group. Welcome to the Pete the Planner radio network. It's all one word, askpete@petetheplanner.com. It's all one word, askpeet@petetheplanner.com. Good day, brothers. Done. You have Elon Musk to thank for introducing your show via my Tesla computer screen. Okay, so I'm going to hit timeout here.
35:32
Damian Dunn
How's that work?
35:33
Peter Dunn
Were we a recommended podcast via Tesla?
35:35
Damian Dunn
That's what I want to know. Do Teslas just put up, hey, you listen to a murder mystery, and now you want to listen to Pete the Planner.
35:46
Peter Dunn
Oh, my gosh. Since the discovery, I've listened to every available podcast more than once. In your most recent podcast, you discussed a local restaurant and their job offerings and wages. It was fascinating how much aligned with one I own in this area of the country. And here's the thing. You and I talked about this email before the show, Dame. I both want to help promote this restaurant, but I also don't want to expose this person's thought on any wages if we got weird. So we will look at the menu here in just a moment and tell you how delicious it looks, but I'm not going to tell you the restaurant or the location. It just doesn't seem pertinent. So you don't have to creep on my Facebook page. And so they told us where the restaurant was anyway, we too are struggling to be fully staffed and have gone through all the COVID crisis as well, including our first COVID shutdown last month for a week.
36:35
Peter Dunn
Oh, man, dame so real. Yeah, I hate that. Our servers, bartenders and support staff are working their tails off, thankfully. Thankfully they're being rewarded with crazy pity tips at this time. I am pity tipping like a mother these days.
36:50
Damian Dunn
Yeah, I've fallen into that habit myself.
36:55
Peter Dunn
I don't mind it, though. May I add a new phenomenon to the later shortage? This person writes, teenagers don't work anymore in high school, at least in the more affluent areas, and this person is in an affluent area of our country. This person notes, I have to compete with families that pay $20 an hour for a teenage babysitter or $60 to mow a lawn, as well as the year round sports they participate in. We have several after school positions for age 15 and over that are very flexible and pay decent, but can never seem to keep a full staff. When I was a teen in the same community, I was a competitive gymnast who committed 30 hours a week to my sport and found a fast food job that would schedule me only on weekends, the only way I had pocket money. Anyway, my rant is over, but if you want a discussion on the working of pay rates and things, I'm your girl.
37:46
Peter Dunn
Signed, Chris. Chris thanks for the email, Dame. I would say anecdotally. I also feel like teens don't work as much as they used to, but I'm trying not. This person actually has first hand experience with that. Mine's all just old man gripey stuff.
38:02
Damian Dunn
Yeah, I owned a family business for a while and I hired almost exclusively teenagers at that point. But I will say that it was really hard to find good kids to come work for me as well. So I see it, I feel it. I think about how busy my kids schedules are, and they're eleven and nine at this point, and I can't imagine how packed they're going to be in another five years. Trying to prioritize a part time job for them might be really challenging. I'd love for them to go out there and get some experience working for somebody else other than mom or dad in what we've got going on, or a family member, just to know what it's like to have that experience of being punctual and listening and paying attention and coming through on what you are expected to do. But I just don't know how that's going to fit in schedules anymore.
39:07
Damian Dunn
It's going to have to be a concerted effort and a prioritization to make sure that they get that experience, if that's what we want to do.
39:13
Peter Dunn
According to Pew Research, anytime you start a sentence with according to Pew Research, it just makes you seem a little bit more intelligent. During the pandemic summer of 2020, teen summer employment in the United States plunged to its lowest level since the Great Recession, erasing a decade's worth of slow gains. According to the Pew Research Center's latest analysis of federal employment data, fewer than a third 30.8%, to be specific, of US. Teens had a paying job last summer. Okay, so let's do it this way, dame and this is not at all representative of America or even a cross section of America. I want you to think of your two best friends in high school, okay? What percentage of you and your two best friends worked at least part time during the summer?
40:07
Damian Dunn
66% of us.
40:09
Peter Dunn
Yeah, I think mine was the same 66, possibly 100. I kind of forget. I think for me, it was like I wanted money to do stuff. And so at what point does entitlement come into this where parents are either given an allowance or providing the means of entertainment for people to do stuff? I don't want to get ahead of our skis here, but isn't teaching someone how to provide their own stream of income sort of a relevant skill?
40:39
Damian Dunn
Yeah, I would like to think so. There's a value in that, not just monetarily, but it kind of sets the stage going forward, you know, that this is going to be an expected part of your life, and it certainly doesn't need to be the primary driving factor when you're still in high school for most kids. But I do recognize there are some families that are in a position they do, unfortunately, require some help from the children. It's a really interesting time period, and I don't know if I'm overly concerned about the trend here, but I do think we're missing out on a way to set expectations for that individual child going forward.
41:29
Peter Dunn
I think back to one of my first jobs. I worked at our family on my family business, which is a plumbing shop that my dad and my uncle owned, and this is my first summer working there. I was supposed to clean out under this pipe trailer, like a huge semi filled with copper pipe and all sorts of things that of course had to lock in a trailer because there's thieves all over the world. But under it, a lot of trash and debris would accumulate. And my job was on this first week of work to go clean out from under it. So I did that. And then on the second week of work, I went and did that. And my uncle found his way out to the shop, who wasn't my boss. He was the head of the company. But I had, like, four other bosses up the chain, and he laid into me about the quality of the work of cleaning out under this pipe trailer.
42:21
Peter Dunn
And, Dame, I will tell you, to this very day, it was one of the most valuable experiences of my entire life. My uncle, he didn't yell at me, but, man, it was an uncomfortable conversation. He was like, what are you doing? He's like, you cleaned out under the pipe? And he looked he's like, look, there's that. And I was like, Well, I picked up the big stuff. He's like, oh, you did? And it's like, that's the sort of experiences you need from not your parents when you're a teen to say, look, this isn't good enough. And I wish that experience for everyone.
42:57
Damian Dunn
I remember that very first conversation myself. I was working in a bag room of a pro shop at a golf course, cleaning clubs for the members after they came in. And I was young, and I was not doing a good job. Take a club out. Seven iron. Looks all right. Looks like Judy missed hit or her eight iron a lot today. But some will get cleaned better than others. Some probably didn't get cleaned at all. And I got spot checked, and the pro came back to me and laid into me. And he was a family friend, but I needed that to hear it from somebody other than your parent, because it's just mom or dad getting mad at you for whatever, but when it's somebody else, takes on a whole different meaning, different gravity to that conversation.
43:46
Peter Dunn
Yeah, it's funny when it's in the moment, I've thought about that. When I travel, I just have a lot of time to think. So now that my travel started back up, I was thinking about this just the other day. The most harsh in the moment criticism that I've ever received throughout my life that is the most painful and that you reject immediately out of the discomfort that comes with it always ends up being the most true. Even social media, early in the days when people would just lob just really heinous rude, direct things at you. I'm like, what's wrong with that person? Guess what? They almost were always right. Now, is the delivery the best way to go? Probably not. Dame, let's do this. Let's take a break. And then coming up after said break biggest waste of money of the week in the news, I'm Pete the planner.
44:37
Peter Dunn
Look at that. All right, Dame, I have not found a biggest waste of money of the.
44:44
Damian Dunn
Week yet, but pray for me.
44:47
Peter Dunn
Oh, I could think of something for my travel, so I got to my hotel late in Fort Worth, and I went up to the hotel bar because I needed some food because I'd eaten. It was a nice little restaurant. Had, of course, a Shiner Bach because I was in Texas, so I had to do that. Then I was like, well, how are your wings? These look pretty good. And the person said, well, you got to try our special sauce. And I was like, yeah, okay, let's go. I'm in. Could you tell me what that special sauce is? And she said, it's our PB and J Wings. And I was like, okay, sure. I mean, these people are morons. They're not going to continue to have this on the menu if it's just heinous, so it comes out. It's almost like a peanut based sauce with a little bit of fruitiness to it and then Serrano chili.
45:37
Peter Dunn
So it ended up being really good. But my dinner was PBJ wings, and then Schneiderbach was sort of strange.
45:45
Damian Dunn
I would not have done that myself, but I'm glad that you got to experience that for your first business trip in over a year.
45:55
Peter Dunn
Yeah, it was nice. Okay, I think I'm ready to go.
45:59
Damian Dunn
Really? That was quick.
46:00
Peter Dunn
Well, yeah, I've settled. I've settled.
46:03
Damian Dunn
So it's not going to be very good.
46:04
Peter Dunn
Well, that's what settling means.
46:06
Damian Dunn
Okay.
46:06
Peter Dunn
Just ask Mrs. Planner. Okay. So are you ready?
46:09
Damian Dunn
Yes.
46:13
Peter Dunn
Did you like the story I called and told you earlier this week on the phone my way to the airport? Was that an enjoyable story for you?
46:18
Damian Dunn
Yes.
46:18
Peter Dunn
I liked it, too, but I can't tell that to anyone. This week's biggest waste of money of the week, right here on the Pete the Planner Show is Yamazaki, 55 year old Japanese whiskey. This week's biggest waste of money of the week, right here on the Pizza Planner Show is Yamazaki, 55 year old Japanese whiskey. Makers of Japanese whiskey for nearly a century, yamazaki last year released the oldest expression in its storied history. Just one catch it was only available via lottery for Japanese restaurant residents. They're now remedying that with a global release. That would be a good name for a garage band.
46:56
Damian Dunn
Global release? Yeah.
47:00
Peter Dunn
I don't know. A lot of coffee. The 55 year old Spirit contains white oak aged whiskey from 1964 and mizunara aged whiskey that was distilled in 1960. The final blend, overseen by chef blender Shinji Fukuyo, arrives in bottles with engraved characters, a 55 filled with gold dust and lacquer, and a neck wrapped in a traditional handmade braided cord. And I don't know how to pronounce it. While some widely available pardon me. While more wildly available than last year's release, it still limits just 100 bottles, with $5,000 of each purchase going to benefit the White Oak Initiative, a group committed to preserving America's white oak forests. Okay, so, Dame, what does this bottle of whiskey it looks like just a 750, if you will. What do you think this thing costs? If $5,000 of the purchase price is going to preserve white oak forests, it's.
48:07
Damian Dunn
Got to be, like, 25 grand.
48:10
Peter Dunn
Oh, sorry. Okay, so here's the question. What does your annual income have to be oh, man. In order to afford a $60,000 bottle of whiskey? Or am I thinking about this wrong? Is that you have so much wealth that you've got assets to burn.
48:32
Damian Dunn
Yeah, I don't think this is a consideration for virtually anyone at that point. It's probably a gift amongst a very small percentage of people at that point.
48:47
Peter Dunn
Good Lord. I guess you'd have to be a bitcoin millionaire. It was so nice to be at a college campus this week. I was speaking to faculty, not students. But it was so nice to be at a campus this week and not be asked about bitcoin. Every other time I'm at a college campus and you run into any students are like, what do you think about bitcoin? I have to be old gripey, man.
49:07
Damian Dunn
All of a sudden, I have no concept of how big TCU is. Do you have an idea how many students are on campus there?
49:13
Peter Dunn
Man, I really wish you had not asked that, because no, I don't know. Okay. Looks like 10,400.
49:20
Damian Dunn
Okay.
49:21
Peter Dunn
It is a beautiful campus. So you know how Soldier Field was ruined because it was a beautiful structure and then they put the spaceship on top of it?
49:30
Damian Dunn
Yes.
49:31
Peter Dunn
The basketball pavilion at TCU is the exact opposite of that. So what was weird, it was one of those old stadiums, like just a big circle, ugly, bronze looking, 1970s maybe just, like, horrible looking. And so the way they revitalize that is they put a facade on it that is more traditional with, like, columns and stuff like that. So Soldier Field was the columns, and they put the dumb spaceship on top. This venue was this old, ugly, round building that they put a beautiful facade on. So you know what I mean? Sort of the opposite. Soldier field. And it was perfect. I mean, this campus is unbelievable.
50:13
Damian Dunn
You're making me want to check it out even more.
50:16
Peter Dunn
Also very hot.
50:17
Damian Dunn
Yeah, well, that would be a major drawback for both of us, let me tell you.
50:21
Peter Dunn
I don't think they probably sell a lot of natural deodorant in Texas.
50:24
Damian Dunn
Don't think so?
50:25
Peter Dunn
I don't think so, because I've switched to the natural and I was down there. Does it hold up?
50:31
Damian Dunn
I bet they do in Austin.
50:33
Peter Dunn
Oh, yeah, it's true. I heard. Off the air. Off the air. Dame, what's? In the news this week?
50:39
Damian Dunn
Congressional Democrats are floating a slew of new taxes to help cover their three and a half trillion budget plan, including new levies on the wealthy. Senate Finance Committee Chairman Ron Wyden, Democrat, Oregon, has introduced proposals for taxes on derivatives, which are financial contracts linked to assets as well as carry interest, which generally is received by hedge fund managers and private equity firms. These measures, it becomes very relevant to us very soon.
51:06
Peter Dunn
Pete? Yeah.
51:07
Damian Dunn
I was waiting for the measures call for a mark to market tax, meaning investors may pay levies annually based on market value and may pave the way for a broader push for similar levies on capital gains, according to Tax foundation analysis. Currently, investors don't pay taxes on gains or claim a deduction for losses until they sell. However, mark to market levies could occur every year, even if they still own the asset.
51:35
Peter Dunn
Nightmare.
51:37
Damian Dunn
Unreal. That would be an accounting nightmare, first of all. Oh man. So for those of you that might not know non qualified accounts, which is what we're talking about, not IRAs, not 401 KS, not 403 B's, not anything that has some tax advantage to it, non qualified accounts are taxed typically after you sell something that you bought. This is saying that you'd pay for a gain on an asset. That Thor industries that I suggested we buy $10,000 of be worth $12,000 right now. The end of the year, I'd pay taxes on that $12,000 of paper gains. I haven't sold anything, but I would have to pay taxes on that amount at the end of the year. This is really horrible.
52:28
Peter Dunn
The beginning of the story was really about like, hey, let's stick it to the uber wealthy. But then by the end of the story, what people may not realize is, hey, let's stick it to everyone. Yes, because a lot of people own securities and everyday people and it would be a tax nightmare to do that. So yeah, that's not good thing. What else is in there? Give me something more positive than that.
52:54
Damian Dunn
The next frontier of at home health tracking is flush with data. Pete, they're looking at trying to pick up some extra data on your health habits from your toilet.
53:05
Peter Dunn
Oh, come again? What's that? Now? Wait, hold on a second. What exactly are they testing in the toilet?
53:11
Damian Dunn
Well, let me tell you, researchers and.
53:13
Peter Dunn
Companies are keep it clean as a family show.
53:15
Damian Dunn
I know, I already got approval from Oz to read the story on there. Researchers and companies are developing high tech toilets to go beyond adding smart speakers and a heated seat. These smart facilities are designed to look out for signs of gastrointestinal disease, monitor blood pressure, or tell you need to eat more fish, all from the comfort of your own personal throne. Doctors have long used fecal and urine samples for fluids to people's health. But there's been a renewed interest in recent years as scientists have begun to better understand how the microbes in our gut influence our well being. In the COVID-19 Pandemic, more communities launched wastewater surveillance initiatives, enabling health officials to hunt for early signs of the virus in cities and neighborhoods to track its spread. Some researchers want to harness that wealth of information on the individual level and have come up with models to peer into the toilet bowl remotely.
54:10
Damian Dunn
Smart toilets are geared towards helping doctors monitor patients with chronic conditions or heightened risk of certain diseases. Whereas other companies aim to sell the toilets with price tags in the hundreds or thousands of dollars directly to the consumers as a tool to track or improve their own health and wellness. Now, here's what I didn't put in my copy.
54:31
Peter Dunn
The joke that you wrote about this.
54:32
Damian Dunn
No. They would potentially be able to monitor flow and also some consistency in what's floating around down there.
54:43
Peter Dunn
I feel like Oprah is involved.
54:45
Damian Dunn
Now, the interesting is, how are you going to tell apart different people? Yeah, different people. Whether it's a kid or adult or whatever. There would be a fingerprint sensor in the hand that would track that. Some toilets also have cameras in the bowl to take very detailed pictures of what's going on down there.
55:05
Peter Dunn
Okay, I'm done with this. I will say this. Number one, that actually is a very cool idea. Number two. Number two, and this is a financial show, but I don't like when people pronounce feces feekies. We've heard her say that. No, I've heard several people, and every time I'm like, what? How can you mispronounce that? You've never heard someone go with a hard C?
55:32
Damian Dunn
No.
55:32
Peter Dunn
Really?
55:33
Damian Dunn
I swear I have never heard somebody say it's alarming. It is. If you're watching the live stream right now and you've heard somebody pronounce it that way, say yes. And that way we can all prove Pete wrong or right.
55:44
Peter Dunn
Whatever. That's it. We're done. Dame next week on the show, maybe more travel stories. You just never know. I'm back in the flow. I'm going to be on the Pacific Coast. We'll see what happens. Thanks for joining me as always. Dame, I always love having you here, sending everyone else good vibes, because good vibes are all that's in the budget. I'm Pete the Planner and this is the Pete the Planner show. You've never heard anyone say Feekies?
56:07
Damian Dunn
Where? I have never heard that.
56:09
Peter Dunn
I actually have a friend that says Feekies, and we're friends, but we're not to the point where I can be like, hey, man, that's not how you pronounce it.
56:19
Damian Dunn
Maybe that's just a northern Indianapolis thing.
56:23
Peter Dunn
You've never heard that?
56:24
Damian Dunn
I have never heard that.
56:26
Peter Dunn
It's jarring.
56:28
Damian Dunn
I'm still waiting for somebody to put in the stream that they've heard.
56:31
Peter Dunn
Has anyone in the stream pronounced feces fee? Anybody?
56:41
Damian Dunn
Crickets. Crickets. If you're listening to the podcast, send it to Ask Pete.
56:47
Peter Dunn
I grew up in the plumbing business, as you know, and so interesting, toilets have been part of my life forever. Right? So at one point in time, when Mrs. Planner and I graduated college, my dad gave us the last full water flush toilet that they had inventory as a wedding gift. Yeah, I think we had how many bathrooms do we have now? Three bathrooms in our first house, two and a half bath. He gave three toilets to us as part of that home situation in which they were not the limited water flush like the conservation toilets. But then when we moved a couple of years later, we left them there. And I told the realtor during the home sales process, I was like, hey, you need to list that. These toilets are there. And the realtor was like, what's wrong with you? I'm like, what's wrong with me?
57:41
Peter Dunn
What's wrong with you? And then we moved, and my dad was mad that we didn't move the toilet. I know mrs. Planner, who was my 22 year old blushing bride at the time, she didn't appreciate this full flush functionality of these toilets. But, boy, does she now after being married to me for 21 years.
58:00
Damian Dunn
There you go. The little things that you know and experience as you grow old together.
58:08
Peter Dunn
All right, so let's go, Dame, because I want to tell you this Austin thing that someone told me that was interesting that I cannot share with anyone else. And that's it. Dame back on the show. Next week, more travel stories. Anything you want to say to our illustrious audience? No, of course not. Okay, everybody stay getting money.
