00:02
Peter Dunn
All right. If you have a soccer family, like my soccer family, here's what happens after dinner. There's a skills ball, which is a small soccer ball that's in the middle of the living room. And those who so choose go over to the ball and play something called the meg game. The meg game is a simple game, a soccer sort of thing where you just try to kick the ball between the other person's legs through the wickets, if you will. And in the world of soccer, megging someone is the most disrespectful, insulting thing you can do. So every night after dinner, I take my children over the carpet and I try to insult them deeply through the world of soccer by megging them. Of course, the people try to prevent being megged and they try to meg you. And when you reached try to stop someone from meg you, they can reverse it around and get you.
00:48
Peter Dunn
And it's a lot of fun. Well, last night when were playing this game, I got a little extra hot and sweaty. And I thought, man, I am really out of shape. And Mrs. Planner said, you certainly are. And then I said, but listen, I'm really sweating. And she's like, yeah, you're really out of shape. And I said, no, I am really sweating. She walked over to thermostat. It was a ripe 75 degrees. Our air conditioner had gone out during a heat spell. Hello, ladies and gentlemen. Welcome to the Pete the Planner show, where we bleed money out of every orifice of our body. Hello, Dame. Hello, Chris. Good day.
01:36
Kristen Ahlenius
Hello, man.
01:38
Peter Dunn
Andy joins us on the live stream. Her AC is out today as well. Congrats. So I'm going to meet a technician at my house after the show, and he is going to punch me in the wallet. So, yeah, that's not fun. Dame in pre show today, Kristen went to take a drink of her beverage. And Kristen, I know this is only visual, not for the podcast listeners, but for the live stream. But let's reenact what happened so that Dame and I can share some joy with me.
02:12
Kristen Ahlenius
Oh, I feel like yeah.
02:13
Peter Dunn
Here we go. Dame's going to go. Here we go. Ready? Ready? Watching. So Dame was drinking out of a Stanley with a straw, and I was making sound effects in the realm of Michael Winslow, the greatest sound effect man in the history of Hollywood. Damn. When you and I were kids, because we are the same age, there was nothing better or cooler than Police Academy, the movie series. And watching Michael Winslow make all sorts of sound effects with his mouth and you were just blown away.
02:57
Damian Dunn
It was the most unbelievable thing that this how old do you think were?
03:03
Peter Dunn
Had to be in that range.
03:05
Damian Dunn
Never seen or heard anything like it. And you could just watch it over and never got old.
03:11
Peter Dunn
Kristen, here's your homework for the day, okay? And ignore all of the work that you today and do this, okay? YouTube michael Winslow and just watch. Yeah. David knows Facebook livestream. Viewer David knows mouth genius is what he calls Michael Winslow. Just watch and freak out if you are not delighted. Dame here's what I'm going to do today. I might see my son later I live with, and I'm going to show him Michael Winslow videos and see if he cares. Can you do the same thing to I?
03:55
Damian Dunn
Yes, I will be able to do that. Probably after lunch. Yes. Oh, man. Now I'm no. Yeah. This might ruin it for both of us.
04:06
Peter Dunn
Peach.
04:07
Kristen Ahlenius
You guys, it's going to be like the first time you went back and watched Jaws and you're like, oh, I feel like it's going to be like that. I feel like you might be disappointed.
04:18
Peter Dunn
It's like watching MacGyver when you're a kid. Dame or the A Team. And you're like, what? And then you watch it back and you're just a little less impressed. Still impressive.
04:28
Damian Dunn
Yeah. I'm concerned this might rip away a part of my childhood that I really enjoy.
04:36
Peter Dunn
So Ted and I have had this ongoing debate over he enjoys hip hop, and I sort of grew up on it. So we're in this debate, he was saying, like, of course, the stuff I listen to is terrible, and what he listens to is great. I mean, this is the age old debate amongst father and son. And he did say something funny the other day. It was a good day was on ice know, just waking up in the morning and we're listening to it. Clean version. And he was like, just waking up in the morning. What am I supposed to do with that? He's like, there's so much storytelling in what you listen to. And I was. Yeah. Yeah. What's yours? And he's like, I don't know. Oh. Dame okay, here's what we're going to do. We're going to do a show. I have a surprise during the show, and it is going to be at the top of the second segment.
05:32
Peter Dunn
Okay, lovely. It is delightful, but there will be rules, and it may take over the entire second segment. I'm sorry. So we may have to punt something in a third. I hope it doesn't I'm hoping it contains to four minutes. It is a surprise. There will be rules, and it will be delightful.
05:50
Damian Dunn
Should we guess what the surprise is?
05:52
Kristen Ahlenius
I have anxiety.
05:55
Peter Dunn
The surprise is Kristen has anxiety. That's the surprise.
05:58
Kristen Ahlenius
That's not a surprise.
06:00
Damian Dunn
It's going to be Pete getting a new co host and leaving. Kristen and I have our no.
06:06
Peter Dunn
Do you have any real don't?
06:09
Kristen Ahlenius
No, I have no idea.
06:10
Damian Dunn
Literally, I have no idea.
06:11
Peter Dunn
That's the way the show okay. You know, being without air conditioning reminds me of this directive I gave to myself as to why I wanted to go to college and have a reasonable living because I value, really, two things in life. And dame, I think I have shared this with you in the past. I value blazing cool air conditioning and two ply toilet paper. That's all I've ever really wanted in my life. And when one of those things is ripped from my grubby Midwestern hand, I get sweaty. I get sweaty.
06:49
Damian Dunn
Was there ever a point in your life where you didn't have central air conditioning?
06:53
Peter Dunn
No, I wasn't born in the 18 hundreds. No.
06:57
Damian Dunn
Just curious.
06:58
Kristen Ahlenius
I know lots of people who don't have central air.
07:01
Damian Dunn
I didn't get it till high school.
07:03
Peter Dunn
Yeah, that's what I said. I have certain aspirations, and I've met them so far, until this very day, we didn't even tell my daughter that the air went out because it was a little hot. It wasn't crazy hot. It was a little hot. But had we told her it was out, she would have lost her mind and not slept.
07:24
Damian Dunn
Straight to social media. Human rights violation going on.
07:28
Peter Dunn
It no air conditioning in Carmel, Indiana, is basically you can get arrested for that.
07:34
Damian Dunn
That's probably against mean.
07:37
Peter Dunn
The HOA is going to be on me again. You know what Rick Swink reminds me? He says, I had no AC in college for the first few years. I didn't have AC for four years in college. So I guess four years in college, it was hot. Those August and September nights in Southern Indiana, it smelled like tobacco because there's a ton of tobacco fields around, which actually kind of smelled good. But hot tobacco when you're trying to sleep, not so much. This is delightful. Okay, Dame, that was really underhanded. I just want you to know I don't appreciate that.
08:20
Damian Dunn
It's okay. I'm sure there'll be plenty more things that you don't appreciate.
08:23
Peter Dunn
Today I'm reading a book called Radical Candor. Right. I did not appreciate.
08:33
Damian Dunn
Will, for those longtime listeners, I will admit that Pete has a physical book of this not an book where he says he's reading something, he's really listening to it. No, he's actually reading this one. I'm quite impressed.
08:45
Peter Dunn
I have gone to this very weird spot as to not only have I crossed over into physical books, but now, like some sort of moron Kristen, I get the physical book and the audiobook.
08:59
Kristen Ahlenius
I love that.
09:00
Peter Dunn
I don't know. It could be inefficient. Could be too expensive.
09:05
Kristen Ahlenius
No, Damon, I were just talking about that. Really, the way to go is read it digitally on like a Kindle so that you can highlight your notes and then send them to you as just, like, one file. But when you listen and read as well, I just think that you absorb the information better. I don't have any evidence to back that up. I just feel like it's true.
09:24
Peter Dunn
David making another note here on the live stream. Americans are getting soft read comfort Cris. Sounds like an interesting book. But here's the thing, David. I am soft. I am physically someone. A coworker bumped into me the other day, almost lost their, like, just like into the ether of gutness. Okay, let's do a show. I don't know, whatever. I have to go home and meet the air conditioner guy so he can take away the college fund for my kids.
09:54
Damian Dunn
You'll become a little less soft in the wallet area.
10:01
Peter Dunn
Well, no, that was just payback. Three, two, one. This week on the Pizza Planner show, we answer your money questions. Here's how the show works. You can email us. That's how we communicate. Electronic mail. Here's the email address. I'm going to give it to you. WW. I'm just kidding. Ask Pete@peteeplanner.com. Ask Pete@peteepeplanner.com and we'll answer your question on the air. I'm not going to email you back. Like, I literally will not email you back. I don't want to email you back. With that, Damien Dunn, Kristen Alanius joined me, co host of this here program in which I just yell at the audience. Hello, everybody.
10:40
Damian Dunn
It's a great start. I'm really anticipated the numbers that we get on this week's show.
10:46
Peter Dunn
Look, I don't like throwing anyone under the bus here, but I was listening to the radio the other day and a personality, someone I know was reading an ad, a commercial, and they read www dot. And I'm like, Why? Who needs to hear that? Is it meant to make you, oh, here comes a web address. Is that the idea? Because there's no other reason to do it.
11:14
Damian Dunn
Maybe, but unless he wrote it, he or she sorry, he or she are just reading what's put in front of them. They probably don't have the leeway to do it. They've got to hit their time. And those www may take up that exact amount of time they need to hit the mark.
11:30
Peter Dunn
That's my thought, too. But I will say this is that having written ad copy and read ad copy, you're usually trying to tighten it, not lengthen it.
11:38
Damian Dunn
That's true.
11:41
Peter Dunn
Because of, like, at www.peteeplanner.com as opposed to. So just go to peteeplanner.com, you're cutting three and a half seconds.
11:51
Damian Dunn
Yeah, but you said go to instead of at.
11:58
Peter Dunn
So I sent you guys a slack earlier this week that beg the following question. With the incredible real estate market over the last several years, there are, I don't know, millions of paper real estate millionaires out there that their net worth has creeped above a million dollars, but it's highly illiquid. It's because of the increased equity of their home that pushed them over that million dollar mark. So you've got a bunch of people walking around who both maybe feel and act like a millionaire, but don't actually have the liquidity to deliver on whatever that means to them. And the question to you all was, is this a problem? Is there going to be some sort of repercussion to this idea that there are so many more millionaires right now than there were three years ago based on real estate alone. So I begin with Kristen.
13:00
Peter Dunn
Kristen, does any of that make sense? Is the premise faulty? What say you?
13:06
Kristen Ahlenius
It totally no surprise. It totally depends on the person, because I think there's a really big pro, and I think there's a potential pretty significant con. I would say, and I've said this on the show before, that sometimes someone being, like, house poor or having a large portion of their income wrapped up in their home or their net worth is the thing that helps bridge the gap from their active working years to retirement if they haven't adequately prepared. But on the opposite side of that, I think a huge con is that it may be, especially in a current rising interest rate environment, when interest rates come back down, I think it lends itself for people to use their home as, like, a savings account, and I don't love that.
13:53
Damian Dunn
Dame I think so little about the equity in my house that I don't think it would change my behavior in one leg. I mean, I could look at my retirement accounts, and it's roughly the same thing. Thankfully, I'm in a position where I don't need that money, but it doesn't change the way I behave in my day to day finances a bit. It just is there. It is something, and hopefully it's there when I'm ready to retire. I think Kristen is right, though. I think what this potentially does, especially in conjunction with interest rates and the fact that houses are selling, fewer houses are selling now than in a long time, I think this might be the rise of the reverse mortgage for a lot of people.
14:41
Peter Dunn
Oh, my gosh. What just happened? Can you warn me? Like, I'm just sitting here not listening to you, and then all of a sudden you said the R word?
14:51
Damian Dunn
Yeah, I did.
14:53
Kristen Ahlenius
What?
14:54
Peter Dunn
Okay, did the whole show just change today? Surprise.
14:59
Damian Dunn
They don't want to sell because they don't want to get into a new mortgage somewhere else. They like where they're at, but they've got a ton of equity tied up in their house, and they might need a little bit of extra help in retirement. And what are they going to do with it? Reverse mortgage?
15:18
Peter Dunn
I'm flabbergasted. Kristen, say something.
15:22
Kristen Ahlenius
Well, now, hold on. I'm curious about Pete, your perspective on the very first thing that Dame said, because that's what pushed me, like, knocked me out of my chair first, was that he was like, I don't think about the equity in my home. I think that he's a minority. I don't think that other people feel that way. I think most people are looking at their home's value consistently.
15:43
Peter Dunn
Dame the equity of my home or pardon me, the value of my home has gone up 40% in the last three years.
15:51
Damian Dunn
Okay.
15:51
Peter Dunn
So to not look at the equity in your home? I pay my mortgage in person. I paid it on Saturday. I have gotten to a threshold of being at a certain point of which I owe. I think about the equity in my home all the time. Now, maybe to Dame's point, I don't think about spending about I just love the fact that I owe less money. But it's a revert. You think this will lead to soon? Or are you saying when we're the olds? What's going to happen here?
16:26
Damian Dunn
I think in the next few years, unless this housing gets sorted out? Builders I've got a news story for the last segment. New construction is just booming because houses aren't selling. People aren't moving out of their houses because they don't want to get rid of the mortgage. They've got that's locked in at ridiculous rates. And so if they're not going to sell and they're going to run the clock out on their mortgage, maybe they just say, you know what, I like it. I've done everything I want, I've remodeled it. Let's get some of this equity back out. Let's look at a reverse mortgage.
16:59
Peter Dunn
Christine, this is a completely different question that takes this completely off. At what point in time do mortgages or houses, I should say, become so expensive that people are priced out of the market and all of that equity goes away because the market falls?
17:18
Kristen Ahlenius
I don't know the answer to that question, but I feel like we have made strides to be there. A few weeks ago, you and I talked about I can't remember the median home price. I want to say it was like four and a quarter or something. And when we look at that in relation to median wages, we get closer to that point all the time. I don't know when that tipping point occurs, obviously, but we're closer.
17:45
Peter Dunn
Damn, I'm stunned. Can I get a little clarification? Do you think not only will you're saying reverse mortgages will become more popular, are you saying that will be a prudent thing to do?
17:59
Damian Dunn
No.
18:02
Peter Dunn
Come on.
18:04
Damian Dunn
As you and I have said a bunch of different times, most financial products have a good use for the right scenario. That's when we start to see people shoehorned into other things that they're told is a good use. There are scenarios where reverse mortgages make sense and I think that may widen up a little bit for some people, especially if they don't have all of the savings they should have had. But they do have a ton of equity in their house. I think that might be a really easy way for them to go, especially if we have markets that go up and down and have a ton of volatility in them going forward.
18:45
Peter Dunn
Kristen, in full transparency, damon and I worked on something earlier in the spring, a case were both looking at in which he and I talked about a reverse mortgage might actually end up being the mean. What is happening?
19:02
Damian Dunn
I don't know. Have to keep an eye on it.
19:05
Peter Dunn
Did not expect it to go that way anyway. So I guess we have zero conclusion to this other than to say there are a lot more millionaires than there were three years ago because of home equity and house prices, and there could be an impact of which reverse mortgages are going to become a thing. Coming up after the break, I surprised my co hosts. That's next right here on the Pizza Planner show. I don't know if it's any bigger surprise than what we're a part of.
19:33
Damian Dunn
There you go.
19:34
Peter Dunn
Holy cow.
19:36
Damian Dunn
I know how you like hot takes.
19:41
Peter Dunn
It kind of makes sense.
19:43
Damian Dunn
I know. I know you couldn't say that on the radio, but no. To our listeners.
19:49
Peter Dunn
No.
19:50
Damian Dunn
That's all the acknowledgment I need. That I was kind of right.
19:58
Peter Dunn
You guys ready for the surprise? Yes.
20:01
Damian Dunn
I wanted to get through that segment.
20:02
Peter Dunn
So bad, I'm not telling you before the segment starts.
20:07
Damian Dunn
I'm sure.
20:07
Kristen Ahlenius
Okay.
20:08
Damian Dunn
That would ruin it.
20:09
Peter Dunn
Okay.
20:09
Damian Dunn
Got to have the pop on air.
20:11
Peter Dunn
All right, Kristen, for the second part of the segment, the question or situation you want to go through, just be ready because I don't know at what point we off board onto that.
20:24
Kristen Ahlenius
Okay.
20:27
Peter Dunn
Yeah. I'll just give you the full surprise on air because here we look. You guys ready?
20:35
Damian Dunn
You're dragging it out, man.
20:36
Peter Dunn
That's the point of a tease. Dame it is still radio. That's WW dot. Damesreversemortgagehop.com that's WW dot. Http WW dot damesreversemortgage.com https do you remember when you first got the Internet, Kristen? This isn't topic for you. It's for me and Michael Winslow. Do you remember when you first dialed up and you put.
21:13
Damian Dunn
Michael Winslow there we go. It was perfect opportunity.
21:17
Peter Dunn
You would tape Www every time.
21:20
Damian Dunn
Time. Every time.
21:21
Peter Dunn
Every time.
21:22
Kristen Ahlenius
Kristen I had dial up Internet.
21:24
Peter Dunn
Did you type Www every time?
21:27
Kristen Ahlenius
Oh, yeah.
21:28
Peter Dunn
Really? Wow.
21:30
Kristen Ahlenius
I might not have had to, but I certainly did. I lived out in the middle of nowhere, so we didn't even have Internet. And then when we got it was dial up, and other people already had, like, kind of fast Internet. It wasn't fun.
21:43
Damian Dunn
DSL do you think as Kristen gets.
21:44
Peter Dunn
Older, she'll trade her dogs for.
21:49
Damian Dunn
She'Ll she'll just.
21:53
Peter Dunn
Really I feel like I've said a lot of terrible things.
21:56
Kristen Ahlenius
That was up.
21:57
Peter Dunn
Look, are your dogs in the room with you right now?
21:59
Kristen Ahlenius
Yeah, of course.
22:00
Peter Dunn
Look them in the eye right now. Be like, I'm someday going to trade you for a cat.
22:03
Kristen Ahlenius
No.
22:04
Peter Dunn
Can they hear me? Do you have earbuds?
22:06
Kristen Ahlenius
Yeah, they can't hear you.
22:08
Peter Dunn
You're getting traded for cats.
22:11
Kristen Ahlenius
They don't believe you.
22:14
Peter Dunn
Okay, here we go. In three, two, one. Back on the Pete the Planner show. Dame kristen, it was Wednesday this week in our office here at Indianapolis, Indiana. I went and got the mail by, got the mail. I went at the front desk, the reception desk or office, and I received a handwritten letter.
22:43
Kristen Ahlenius
Oh, what?
22:44
Peter Dunn
On graph paper telling me how wrong were about a segment last week? Yeah. So here's some ground rules for what we're about to do together. Number one, I will never make fun of someone disagreeing with me. Okay. I feel like it is just not how I want to live my life. So this person has a different opinion. So we will not make fun of this person. We will not discredit them. We can disagree with their ideas. Are those good ground rules?
23:17
Damian Dunn
Fair enough.
23:19
Peter Dunn
We don't have to flame the person if we disagree with their ideas. Number two, if a handwritten letter is going to come in disagreeing with you, it is going to come in on graph paper. Greg I know what I'm dealing with. Like I know what's about to happen. The return address label simply said a listener. Okay, pete the planner. Then it has our address, including the zip code extension. Regarding Sunday, 16 July show WIBC question on rolling prior employers 401K balance into new employers 401K plan. Dear Pete and team, I suggest it is almost never the right move to roll over into a new employer's 401K plan, no matter how much they urge you to do so. Number one, you lose control of the investment choices. You get what their HR department picks. The new employer can change offerings and fees, including administrators, whenever they wish.
24:18
Peter Dunn
I will point out listener. We talked about that on the show, did we not?
24:23
Damian Dunn
Dame, we may not have gone quite to that detail that the providers could change, but investment choices do change 100%, right on all of this so far I have no problems.
24:35
Peter Dunn
Number two, you are stuck in that 401K until you leave that job. You cannot move the money back out. To the best of my knowledge as a user and non financial advisor type, that is both true and not true and arguably irrelevant. It doesn't matter. Number three, you lose your privacy. I have to say I've never considered this. You lose your privacy. The new company's, HR people can see that transfer in of your money and that can be significant risk to you, the employee. Okay, so that is interesting because what they're saying, dame, is when your 401K administrator, your employer, checks on what's going on in 401 KS, they're going to see a deposit in and that could negatively impact your employment.
25:28
Damian Dunn
I'm not sure how because they have access to everything in theory, payroll records, everything. I don't see how seeing them being able to see a deposit into a 401K has any bigger influence on employment than anything else.
25:47
Peter Dunn
Kristen do you think it's because they think if there's like layoffs or something or they're like, oh, well, they don't even need the money because they've got so much money? Do you think that's the argument I.
25:55
Kristen Ahlenius
Think that is probably the argument. And it could also I mean, I also understand the privacy thing, not wanting someone that you work with to know how much you have or haven't saved for retirement.
26:07
Peter Dunn
Yeah, I don't know. I'll say this, I appreciate the letter, listener. Thank you for sending it. I had literally considered every point. I feel like we at least touched on those points other than the privacy thing is interesting. I appreciate that perspective. But then the lead line is where I lose you. Listener, first off, thank you for not sending me anthrax. I had sort of the lowest member of our team open the letter with me around the corner, through the glass. But it's a man's writing. I suggest it is almost never. But here's the thing about what we do for a living. It doesn't work that way, because sometimes it makes sense, sometimes it doesn't. In fact, there are such large 401K plans that have such lower fees that you can get anywhere on the street that it makes a ton of sense to be in the your employer.
27:08
Peter Dunn
That last point withheld. So anyway, typically you can ask Pete@peteepunter.com, but if you want to go to the Yellow Pages and look up our business address and not send me anthrax, have at it. So thank you, listener. We appreciate you very much.
27:22
Damian Dunn
Depending on the plan, you may get access to funds that are closed to you as a retail investor. So that cuts both ways. And there are some amazing funds, at least there used to be. It's been a long time since I've looked at some of the closed funds that are available in various 401 KS that you would love to be able to use.
27:40
Peter Dunn
Dodge and Cox had a series of closed funds that were only within retirement plans. To your point, dame and Danza on the live stream says she's picturing the letter is in all caps and I will let you know there is several capital letters, but again, we're not making fun. Appreciate it. You had a situation you wanted to share?
28:04
Kristen Ahlenius
Yes, I did. So I had someone come to me with a question about what they should do with a I would say moderate sum of money.
28:15
Peter Dunn
How much?
28:18
Kristen Ahlenius
Well, that's not fair. We'll just call it five grand.
28:22
Peter Dunn
Okay. So could they pay for my new air conditioner that I've got to have installed later today? There it is. And that's the second. So go to www.petezac.com. No.
28:34
Kristen Ahlenius
So this person was trying to decide technically between three options. The first was to just leave the money in savings, which is what it was already doing. The second was to make a principal payment on their mortgage. Their mortgage interest rate is seven. And their loan to value ratio is pretty high because they just bought a house or they could pay off their car. And that interest rate was like 3.8.
29:09
Peter Dunn
What's their car payment. Just a no brainer. Well, if I can ask one more question okay, that $5,000. How does it relate to three months worth of expenses? Is it in excess? Is it part of or does it not even reach?
29:29
Kristen Ahlenius
I would say that this person would be fine to get rid of the five grand.
29:33
Peter Dunn
Pay off the car.
29:36
Damian Dunn
Dame, dame, I hate agreeing with you, but it's pay off the car.
29:40
Peter Dunn
It's a no brainer. This is the easiest personal finance question we've ever had on this show, ever.
29:47
Kristen Ahlenius
Well, this person will be glad to know that they did the arguably. Right?
29:54
Peter Dunn
Wait, Kristen, I am sensing that you.
30:00
Kristen Ahlenius
In fact but I think what's hard for this person is that they're a math brain, and it's really hard to say if I have the cash flow available to meet all of my obligations. Why would I not make a bigger payment on my house? Because that's where I save the most money. I think that the internal conflict between looking at it on a spreadsheet and what I could save and the elimination of that monthly payment, and what I would argue to be more of, like, a feeling versus math is where people sometimes get tripped up in situations like that.
30:37
Peter Dunn
What is she going to do with the freed up cash flow?
30:43
Kristen Ahlenius
Probably spend it on something silly.
30:44
Peter Dunn
Okay, well, that's where it gets dumb, right?
30:47
Kristen Ahlenius
But she has no other debt she saves for retirement. I don't really have a whole lot of qualms about that, though.
30:57
Damian Dunn
Save it for another down payment for a new car. Whenever that comes around, put it towards the mortgage that she cares so much about getting rid of at 7%. There's a number of things that you can do with that money that you just saved every month.
31:10
Peter Dunn
All right, now, I have a personal finance question that I want to ask. Can I do it in the next segment? I'm blowing up all your segments today, Kristen. That's fine. Okay. I have a question from a friend that I want to get out there. It's me, but I'm thinking if I tell the story, I'm on the fence as to what to do, honestly. And it's like you don't want to disclose too many details, but enough to get the answer, but not enough that people send me firmly worded emails.
31:43
Damian Dunn
Just get the air conditioner, Pete. It'll be okay.
31:46
Peter Dunn
That's next right here on the Pete the Planner show. Coming up after the break, I'm going to ask a question to my co hosts and hope that listeners don't start hating me more. That's next right here on the Pizza Planner show. I'm Pete the planner. All right. I really am. Dame, I don't know if it's a car situation. Have I talked to you about it?
32:08
Damian Dunn
Nope.
32:09
Peter Dunn
Okay. Oh, man.
32:15
Damian Dunn
Wait, your oldest isn't old enough to start?
32:17
Peter Dunn
No, it's not that. I mean, the show will be over by then, but whatever.
32:26
Kristen Ahlenius
My prediction is. I'm going to feel one way and the two of you are going to.
32:30
Peter Dunn
Feel a different way. I think we're not going to be aligned. Oh, man. There's just one element of the story.
32:43
Damian Dunn
I've got to choose to disclose.
32:46
Peter Dunn
Well, it's an important detail. I just got to frame it the right way.
32:53
Damian Dunn
What do I do with my $3.4 million Ferrari?
33:01
Peter Dunn
I did talk to you about this. Okay. Oh, boy. I'm just going to have to rip the Band Aid off as part of it, but I don't even know what to do. Oh, boy. You know what? This is going to help people, so I'm just going to do as much as I can here. That's the way you got to view it.
33:27
Damian Dunn
You're man of the people until you tell this story, and then you won't be.
33:33
Peter Dunn
The itunes podcast review here is going to be terrible.
33:36
Kristen Ahlenius
You're out of touch.
33:40
Peter Dunn
Okay. It reminds me of a question we answered a few months, if not a few weeks ago on the show where someone was a few months.
33:51
Kristen Ahlenius
Maybe it was a few weeks ago.
33:53
Peter Dunn
For someone who loves time as much as I do, looking backwards in the time, I'm a mess. Could have been seven years ago. Damon, do you ever see a picture of things pop up on your phone or whatever? Social media. That it's. You parenting your kids when they were really small and cute, and you're looking at kids. Then you look at yourself, you're like, oh, my God, I look terrible now. I've aged so much. I had one of those this week, and I was like, I look like I've been in an industrial accident at this point in my life. Like, what happened? I was like, reasonably okay.
34:31
Damian Dunn
Just had that. There was a picture of our family at a wedding standing there all dressed and cleaned up. Man time and gravity are just absolutely.
34:44
Peter Dunn
Dame Kristen, we're not going to ask you this question. You can choose to answer it if you want, but I am not going to ask you the question. But I am going to ask Dame. Dame, I want you to envision a time in which you felt you were the best looking that you ever were. Okay. Do you have it pictured? Yes. Circa what? Okay. On a scale of one to ten, aesthetically, what would you have given yourself at that time?
35:16
Damian Dunn
Neck down. I would say I was eight and a half. Nine.
35:22
Peter Dunn
Thank God he didn't say waist down. That could have gotten really awkward. Just really awkward. Eight and a half to nine? Waist down.
35:30
Damian Dunn
Neck down.
35:31
Peter Dunn
Wait, neck down, sorry. Whatever.
35:35
Damian Dunn
It's all the same.
35:38
Peter Dunn
Okay, but then, like, face and everything else, you're the whole package here.
35:46
Damian Dunn
You're asking me to rate my own.
35:48
Peter Dunn
Yes, I am.
35:51
Damian Dunn
Above average. Face brings it down significantly. We'll say six and a half.
35:56
Peter Dunn
Okay. And then where are you now?
35:59
Damian Dunn
Three.
36:00
Peter Dunn
Okay, so here's where I'm at. I'm thinking for me, I'm going to go like 98, 99 and I will go seven and a half, maybe eight. I'll maybe go eight. Nice looking red hair. It's pretty good shape. Stone cold.
36:20
Damian Dunn
Four.
36:21
Peter Dunn
Three and a half to four now. Right. That fall off is just a nightmare.
36:29
Damian Dunn
But I would argue it doesn't. No, we're not going to get there. Sorry.
36:33
Peter Dunn
I would argue I both am cognizant of that and maybe don't care that much other than I'm talking about it.
36:40
Damian Dunn
Yeah, that's where I was going to go was the number goes down but the percentage of not caring goes up.
36:48
Peter Dunn
Danza points out this next segment sounds like it'd better coming from my courtyard if I was doing a remote show. I almost did a remote show today, but then I realized that I've got no air conditioning and I didn't want to melt. Okay. Oh, man, this is going to suck. Okay, in three, two, one. Back on the Pete the planner show. Kristen, I have a personal finance question that's so personal, it's actually my question. I was hoping you two could help me with it. So we had a couple rules to start the last segment and so I'm going to just ask to follow a couple of rules here. Everyone's situation and the difficulty and the challenge is relative to their own financial life.
37:33
Damian Dunn
True.
37:33
Peter Dunn
I am not comparing my financial life to anyone else. I'm just like this is a challenge. This is a decision I have to make that is in front of me. And it's very real and it is stressful, actually, and it has been for a little while. Okay, so here's the story. We absolutely need a new to us car.
37:55
Damian Dunn
Absolutely.
37:58
Peter Dunn
No question. And we need so because we will be doing a lot of driving this fall and it is not practical to put those miles on our other car for other reasons. Again, I can't give you all the details. I'm just going to give as much I can as you would hope. We have a proper emergency fund and beyond that, we don't keep a lot of extra money in our emergency fund. Those are investments and they're investments that we don't really want to liquidate. Right. Because they are longer term investments. Dame I have a chunk of money coming my way, not related to work and employment, not related to the ownership of this business. It's a thing. I can't really get into it, but it would very easily pay cash for a new car. Okay, let's say $30,000 new car for whatever. It doesn't really matter.
38:56
Peter Dunn
That part doesn't matter. I need to get the car before the money is here. I have to. There's no way about it. So I also don't want to tap my emergency fund. So question is what combination of payment options do I use to acquire the vehicle while the money comes in, which could be anywhere from six months to eleven months from now. My current thought is I put a little bit of down payment down, get as low of interest rate as I can, and just use the savings account to make monthly payments on it and then just replenish the savings account when the funds come in. So I will hang up and listen. Actually, I won't hang up, I'll listen. What do you guys think?
39:54
Kristen Ahlenius
Damn.
39:59
Peter Dunn
Ask whatever you can. Ask what you want to ask.
40:02
Damian Dunn
First and foremost, this seems almost borderline rude to ask, but you aren't speculating on these funds. You know, this is coming in because great question.
40:16
Peter Dunn
You know what, man? Great question. And it's not rude because at some point in time it was speculative whether it was or wasn't and how much and all that. So that was a thing that I've already gotten past. Okay. So that's why I'm now to the point of needing to do something about it, because up until knowing it's happening, that's too much of a risk. Okay.
40:42
Damian Dunn
Could I ask you another question?
40:43
Peter Dunn
Ask me whatever.
40:45
Damian Dunn
If that money wasn't coming in, how would you do this?
40:51
Peter Dunn
I don't know. I actually have thought about that. I would probably liquidate an investment, maybe. I don't know. I don't like the idea of having emergency fund that low. Yeah, that's probably what I do. The cash flow doesn't support having a payment because I allocate all my money out to certain areas. Right, right. Good questions that I've asked myself, which makes me feel good that I've actually asked both of those questions to myself. Do you have any questions before he goes? Any other questions?
41:28
Kristen Ahlenius
I don't think I have any other questions because I don't think that other details would change where leaning.
41:35
Damian Dunn
Okay, Dan, so you said something really interesting before you tried to throw it to Chris or you did throw it to Kristen. Your monthly cash flow doesn't support a car payment right now, and that's because you're aggressively funding other stuff. Absolutely. It's not because you're strapped or it's because you have goals. You've got them funded. If you could pull back one of those goals for six to eleven months, would that seriously hamper your overall goal achievement and use that cash flow to fund the new car payment?
42:13
Peter Dunn
I don't want to do that. I would much rather have the car payment funded out of the savings account.
42:19
Damian Dunn
And would the I understand. And at this point, I'm just trying to shoot holes and look at other options. Would six to eleven months of car payment coming out of emergency fund significantly?
42:34
Peter Dunn
No, not at all.
42:37
Damian Dunn
Okay. Kristen, I don't know if you feel the same way. I would say, okay, go with the savings fund. But I think you're commingling funds, which kind of goes towards a next dollar type of approach, but I think you're commingling funds that are in that emergency fund that you could set aside and say, this is legit emergency fund. And then you can cordon off another set of funds that are call it what you want, opportunity fund, sinking down payment for something else in the future. But you have some flexibility with those funds. The emergency fund is that strictly emergencies and I'm not sure this quite rises to the level of an emergency. I think it's bad timing, I think it's unfortunate, but it's not an emergency. So I would suggest maybe going back and looking at your emergency fund and figuring out exactly what that money is for and what you want to sit there and then maybe being a little bit more strategic with some of that other cash.
43:31
Kristen Ahlenius
Kristen I think what I would suggest in this situation is to disrupt life in the next twelve months to least amount possible. And I would say you put the least amount down, you sign for the longest loan that they'll give you at a reasonable interest rate. Because I could be wrong, but I would doubt there's going to be very much difference in that interest rate from anything from three to six years or more. You finance the least amount possible, you pay the monthly payment out of the emergency savings, you replenish it. And then to Dame's point, if there are opportunities for something like this to happen again, I would love for there to be like an intermediate account that addresses things like this so that you don't have to disrupt your month to month.
44:19
Peter Dunn
That's fair. Yeah. I have definitely thought about getting a 72 month loan because it just takes the burden of the payment down. And then I've done some math that I think worst case scenario there's the air quotes. I think worst case scenario, every different way I've looked at this, it could cost me about $1,800 interest. And that's a weird worst case, the way I calculated it. And so this act of arbitrage is going to cost me about $1,800. But it's still stressful because I don't like the idea of wiping out an emergency fund. I don't want to have a car payment and once the money comes in, I can fix that. I don't know. It's the weird one though, right?
45:08
Damian Dunn
How many people do you think are screaming HELOC at their radio?
45:11
Peter Dunn
Right know, I've thought of that too. I've thought of that too. But the interest rate's so much higher than a car. Here's the other aspect, and this is where dame you can mock me even more. We have no idea what kind of car we want. We have no idea, don't care other than it's probably a mid size SUV. So there are so many deals out there actually that are starting to happen, like 1.9%, and it's like, do that. I mean, why make it more complicated than that?
45:37
Damian Dunn
Can we go car shopping together?
45:40
Peter Dunn
How would that go?
45:41
Kristen Ahlenius
It would be a nightmare.
45:46
Peter Dunn
Dame you know, the speed at which I make decisions quite quickly, quite so bad. Jarringly quickly.
45:58
Damian Dunn
This isn't going to be your primary driver, though, is it?
46:00
Peter Dunn
No, but the thing is, based on how our family's fall is going to go and this and that, I will be driving it a lot on the weekend.
46:09
Damian Dunn
Yeah, that's true.
46:12
Peter Dunn
See, everyone's got personal finance challenges. Kristen with 20 seconds left, did I alienate myself with any listeners there or was it at least somewhat down to earth?
46:22
Kristen Ahlenius
I hope not, because I hope people realize that you can apply those principles to other situations and other levels of income.
46:30
Peter Dunn
It is stressful. And that's the thing. I shouldn't have to martyr my financial decision making because some people have it worse. We can acknowledge both at the same time. With that, we go to break. Coming up after the break, biggest waste of money in the week. In the news, I'll beat the Platter.
46:48
Damian Dunn
Think about the other side of that coin. If you would have came on and said, you know what? I can't afford my new car. I need a new one. How am I going to get through this? I'm going to have to go do something sketchy. Then you lose all your credibility. Someone would expect you to be in this position.
47:04
Peter Dunn
No, but I mean, let's be honest here. You ask the question of, hey, if this money wasn't coming in, what would you do? And I don't have a great answer other than take money out of investments, which is I guess that is the second tier of my emergency fund. So maybe it's the same thing, but I don't have a plan. I love I don't have a car fund. I don't love it.
47:31
Damian Dunn
That's your choice. But if you wanted to leave the investments in place and potentially rearrange some of your goals and pull some monthly cash flow out of that, you could. But you've prioritized the importance of those goals to the point where you'd rather go a different route. Leave investments in place, leave the goal finding in place, and try and find something else that is minimally disruptive to the rest of your financial life.
48:00
Peter Dunn
Jason notes that he's working on his handwritten letter right now.
48:05
Kristen Ahlenius
I love our you know, I think.
48:07
Peter Dunn
We may have said this a few weeks ago, maybe, or a month or a couple of years. Jason's funny, right? Yeah. Yeah. Do you know Jason?
48:16
Damian Dunn
No.
48:17
Peter Dunn
Kristen is he in your life?
48:19
Kristen Ahlenius
I don't know Jason.
48:21
Peter Dunn
He's funny.
48:23
Kristen Ahlenius
David also said reverse mortgage.
48:26
Peter Dunn
David's been on fire today. Dan said mechanical pencil at the ready. I appreciate this person's letter, I really do. And it says, Best regards, a listener. I don't know. Here's the graph paper. You can't really see it, especially if your podcast.
48:52
Kristen Ahlenius
I also think their point one is kind of interesting. You lose control. I'm not sure what control you had in the beginning. I can't let that one go either.
48:59
Peter Dunn
No, I see his point. I think we did say on the show, Damon, maybe this is what I was trying to get at. The only reason you would roll an account into your current 401K is if there were good investment choices of which you felt you were okay with giving up that control. And then the fees thing. If you have a large employer plan with low fees, they're never going to go to higher fees, they're always going to go to lower. That's the nature of the retirement plan business.
49:30
Damian Dunn
There's another reason, but it's a very small 1401 KS are ERISA protected accounts. So if you're being sued for some ridiculous amount of money, keep your 401K in the 401K because it's shielded from any creditors.
49:45
Peter Dunn
At that point, you are stuck in the 401K until you leave that job, you cannot move the money back out. I mean, that is for the most part true. Sure is. The argument there is if you really got in trouble, you couldn't access it for trouble to solve the problem. It's true. You could always do a hardship withdrawal, potentially, you could do a loan, but.
50:12
Damian Dunn
I don't know, maybe you want to buy annuity with that 401K money and you want to take it out while you're still working. I don't know.
50:24
Peter Dunn
Okay, well, again, I don't always have to be right and I'm wrong a lot. Now David wants to my home address so he can hand deliver complaints alert. Okay.
50:42
Damian Dunn
I see envelopes being taped to the door of the office very soon.
50:46
Peter Dunn
Was it a couple of weeks ago or a couple of months ago when I was like, man, we had a bad show. Do you guys remember? We got done. I was like, God, that sucked. What was it?
50:55
Kristen Ahlenius
This is our 500th show.
50:56
Peter Dunn
Well, that one, and I think we had one after that, it was like.
50:59
Damian Dunn
501 or two because were making the joke that we didn't think was going to end quite that quickly. After all the jokes you made on the 500, I think it was 502.
51:08
Peter Dunn
Yeah, this is much better show today.
51:11
Kristen Ahlenius
Yes.
51:12
Peter Dunn
And then last week I got in too early and then so that my caffeine peaked at the wrong time. Remember people were calling for Miguel a 98 thesis reference from David. That's lovely. Okay, let's go. Let's do a show. I got to pull up my stuff here.
51:32
Damian Dunn
Continue the show, whatever.
51:37
Peter Dunn
All right, here we go. In three, two hold on. Sorry. Three, two, one. This week's biggest waste of money of the week, right here on the Pizza Planner show is the Alfred Dunhill Case of Delights. To celebrate the 130 year legacy of Alfred Dunhill, the British luxury goods brand released The Case of Delights. The sleek timeout. How you time out. Dave?
52:14
Damian Dunn
Yes.
52:16
Peter Dunn
How fun is it to say attache?
52:19
Damian Dunn
I mean, it sounds almost like spy novelish.
52:25
Peter Dunn
Say it. Say attache. Attache. Was that fun? Yes.
52:28
Kristen Ahlenius
Kristen attache.
52:31
Peter Dunn
Are you delighted?
52:32
Kristen Ahlenius
Yes.
52:33
Peter Dunn
Continuing on, the sleek attache case pays homage to the house founder's harness making heritage with an English bridal leather construction in Italian hardware. Its interior is filled with a bounty of gentlemanly necessities. The curated items include galvanized lighter, a black shell briar pipe, stainless steel tamper, a cigar cutter, and a handmade leather cigar case. To accompany the smoking accessories is a pair of handmade smoked gray shot glasses and a hip flask for your spirit of choice. First off, that sounds like a good time. All right. Okay. So, Kristen, for this case of delights, a sleek attache that allows you to smoke and drink like any country bar in America, what do you think it costs?
53:37
Kristen Ahlenius
First of all, I feel like if this had a flashlight included, that this would be something that Dame would actually have in his office. Second, I feel as though it is $399. Dame, lovely.
54:02
Damian Dunn
I would have thought you've picked up on this. You take, like, what you think it actually costs, multiply it by at least ten, and you're probably in the ballpark. This is $4,200.
54:14
Peter Dunn
The answer is 32,000.
54:16
Kristen Ahlenius
Oh, my God. That logic doesn't work because I did that with the flamethrower dog, and I was way off base. I hate this segment.
54:34
Peter Dunn
I think I say you hate us, which also seems warranty. That's fair. Dame, what's in the news this week?
54:41
Damian Dunn
This summer has been a bloodbath for the US. Entertainment industry in the world's second largest market, cementing a years long gravitation among Chinese consumers towards movies made at home. Total box office sales for US. Films in China hit $592,000,000 in the first half of the year, down from 1.9 billion grossed in the same time period in 2019, the year before COVID restrictions crippled movie going. Obviously, the shifting tastes of 1.4 billion people in China have considerable ramifications for Hollywood studios and for Chinese leaders who use the multiplex for propagandistic films. Pete, as if the writer's strike and the actors strike in conjunction wasn't hard enough for Hollywood, they're losing some significant revenue from overseas.
55:36
Peter Dunn
Yeah, that's interesting. I feel like half the Mission Impossible movies that have come out recently were all funded by Chinese studios. Am I making that up?
55:44
Damian Dunn
I think a lot of movies are at least co funded by Chinese studios, but I don't know specifically about Mission Impossible.
55:50
Peter Dunn
Yeah, I feel like I'm totally making this up, but I feel like Tom Cruise has a conduit to the Chinese filmmaking industry for some reason.
55:59
Damian Dunn
It's probably through Scientology.
56:01
Peter Dunn
Possibly. Kristen, thoughts on the Chinese movie studios eating up the profits of American studios?
56:07
Kristen Ahlenius
I don't know anything about any movie studio. I don't watch movies.
56:13
Peter Dunn
Gentlemen, I still have not seen the new Indiana Jones, and I've not seen the Mission Impossible yet, but I'd like to see both.
56:19
Damian Dunn
Are you doing barbenheimer?
56:21
Peter Dunn
No, I just don't go to movies. But I have a cross country flight coming up and I'm hoping one of these new releases is somehow on that flight, but I'm not holding my breath. There's actually that Jennifer Lawrence Romcom sort of raunchy comedy that's out. That I'm hoping is also on the.
56:40
Damian Dunn
I just, I always think about your story of a freeze frame when you're we won't get into it because it.
56:47
Peter Dunn
Involves where is pilot Jeremy?
56:49
Damian Dunn
Seriously, we needed pilot Jeremy in here because I actually had a pilot story in here. I will get to it after this next story, which is this week's feel good legislation that's sure to go nowhere.
57:03
Peter Dunn
Stock pick, they cannot do it anymore, right?
57:07
Damian Dunn
You got it. Two senators are set to introduce legislation to bar executive branch members and lawmakers from owning stock individual companies and even blind trusts. The bills from Senators Kirsten Gillibrand and Josh Howley would still allow the president, vice president, members of Congress, Capitol Hill aides and employees of the executive branch to own mutual funds and index funds as polling shows broad support for such ban. The legislation comes after a Wall Street Journal investigation which found many top executive branch employees own stocks and companies their agencies regulate. Again, it's nice to see it placates the people. It will go nowhere.
57:49
Peter Dunn
I have a really hot take.
57:50
Kristen Ahlenius
Yes.
57:52
Peter Dunn
Hotter than your reverse mortgage?
57:54
Damian Dunn
Yeah.
57:54
Kristen Ahlenius
Doubtful.
57:56
Peter Dunn
What if, I'm just saying what if when you went into Congress your money got set in a fixed account that paid the equivalent return of the S and P 500 but it wasn't necessarily a variable, it could be a fixed 8%, whatever. Because even with an index fund they're so heavily weighted sometimes that if you have the right inside information, you just go to that S and P 500 is a perfect example. So what if you just like you go to Congress, you set your money aside, you're guaranteed 8% rate of return, but then you also have term limits. I think I'm reworking the entire government is what I've just done. But that's not a terrible idea.
58:43
Damian Dunn
Guaranteeing 8%. Who wouldn't sign? I mean that's another conversation all in itself. You and I will both sign up for 8% guaranteed for the rest of.
58:50
Peter Dunn
Our lives, all day. Kristen wouldn't because she's a young. No unrealistic investment standards.
58:56
Kristen Ahlenius
Exactly. We've only lived through bull markets.
59:00
Peter Dunn
What is the guaranteed rate of return you would accept for the rest of your life, Kristen?
59:06
Kristen Ahlenius
Good question. So I had to sacrifice I would say it would have to be double digits.
59:12
Peter Dunn
8% all day. Give it to me right now. Man, that is a generational difference.
59:21
Damian Dunn
Did you ever see a retirement plan modeled or projected with double digit returns?
59:27
Peter Dunn
Of course. The software I used to use it let you go up to twelve and it was just the dumbest thing in the world, right? It was just like it was so unreal. Well now this is sort of creeping into another territory within personal finance of constantly illustrating 12% on mutual funds. But that's neither here nor there.
59:51
Damian Dunn
No last story we can get into a little bit. How did your last salary negotiation go? Probably not as well as it did for United Airlines pilots. Their union agreed to a preliminary labor deal that includes pay increases of as much as 40.2% over four years, ending months of tense negotiations and airport pickets. The preliminary deal with the Airline Pilots Association announced Saturday comes months after Delta pilots ratified a new contract that included 34% raises over four years. And the first of top four airlines to reach was the first of the top four airlines to reach a new agreement. American Airlines and its pilots union reached a new labor deal with 40% raises over four years ago, though it still faces a ramification vote by members. Yeah, so if they sign this contract, essentially they're going to get 13% to 19% pay bump immediately, and it'll end up being a 40% over four years.
01:00:52
Peter Dunn
Isn't that the nature of having a highly specialized in demand skill? Yes.
01:00:56
Kristen Ahlenius
Yeah.
01:00:57
Peter Dunn
I mean, really? Because sometimes other strikes that happen, it's just like, yeah, there's a labor force in size that damages the people they're negotiating with, but the labor itself isn't so specialized that it can't be replaced. That's why pilot strikes are so massive and impactful. Maybe. Look at me talking about United labor. Anyway, sending 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. So I'm guessing I'm going to get more letters. We never talk about union stuff on this show.
01:01:44
Damian Dunn
I've mentioned it in the news before about Starbucks attempt to unionize, stuff like that. We've never spent any significant time on it, though.
01:01:52
Peter Dunn
All right, we're going to play a little game here. How much is my air conditioning fix going to cost? Now, here's what you can do. You can say, Well, I may need a new unit. They may be able to repair the unit. You're going to have to figure that out.
01:02:08
Damian Dunn
I got to tell you, after your success with the refrigerator repair, I'm kind of surprised you didn't go to YouTube.
01:02:14
Peter Dunn
Here's the other thing. I used to install air conditioners in college, but I didn't repair them, which is a very different thing.
01:02:25
Kristen Ahlenius
How old is it?
01:02:29
Peter Dunn
That's the worst part.
01:02:30
Kristen Ahlenius
It's old.
01:02:32
Peter Dunn
14 years. Wait, maybe older. When was 2007? Wait, when was that? What is that? 17 years? No, 16 years.
01:02:48
Damian Dunn
We math.
01:02:50
Peter Dunn
Wait a second. Okay.
01:02:54
Kristen Ahlenius
Isn't it 16?
01:02:56
Peter Dunn
Yeah, it's going to be 16 years this October.
01:02:59
Damian Dunn
It's fun.
01:03:00
Kristen Ahlenius
It's not good news. Pete.
01:03:03
Peter Dunn
How am I so into time, yet anytime I look backwards with time, isn't that weird? You guys know me. I'm a time machine. Forward, backwards, I got nothing.
01:03:16
Kristen Ahlenius
I'm the same way because I'll start a story and say, well, the other day, and then if I stop and think about what I just said. I'm like, that was not the other day.
01:03:28
Peter Dunn
I'm so glad this letter did not have anthrax in it. You know what I mean? That would have totally ruined my week.
01:03:35
Damian Dunn
No. Well, yeah, because the person who opened it would have got sick, and you would have had all sorts of issues to deal with.
01:03:42
Peter Dunn
Did you imagine all the paperwork I'd have to do if I had someone open a letter for me that had anthrax in it? Because I thought it had anthrax in.
01:03:48
Damian Dunn
It, the entire building would have been shut down, and you'd be at home in a non air conditioned house.
01:03:54
Peter Dunn
So when I used to coach my daughter's soccer team, occasionally a girl would, like, kick a ball out in the street, and I'd be like, hey, look both ways. I don't want you to get hit and killed. That seems like a lot of paperwork. And they didn't understand the humor. They're like, you'd have to do a lot of paperwork. I'm like, no, it's a good joke, Dame. I was sort of feeling creative this morning. I was writing a column, and so occasionally I'll have non financial creative thoughts that come from that. So I actually wrote a new stand up joke this morning, but I can't share it on the air. Thanks for sharing, then, because I haven't figured out how to make it not wildly inappropriate. It is inappropriate, but, you know, when I do comedy, I don't like to actually say the things. I just like to make people think terrible things, but I don't actually want to say them, so I've not figured out that part of the joke.
01:04:51
Peter Dunn
But when I do, I'm going to have you sign a form, and then I'm going to tell you the joke. Fair enough.
01:04:57
Damian Dunn
I think I figured out a way that you can save some money on your air conditioner.
01:05:01
Peter Dunn
Okay.
01:05:01
Damian Dunn
Just ask the guy if you can help install it. They love it when people do that.
01:05:05
Peter Dunn
Or stand over him with a flashlight that I keep in my pocket. Yeah. What do you think is going to cost, Kristen?
01:05:15
Kristen Ahlenius
I don't have any bearing on how much a new air conditioner costs or how big your house is. I have no idea.
01:05:21
Peter Dunn
Let's not go to how big your house is.
01:05:23
Kristen Ahlenius
Well, no, but the size of the unit no, the size of the unit matters. Like, I live in a condo. I can't imagine that my AC unit is the same as either of the two of yours.
01:05:34
Damian Dunn
Do you have two? Because sometimes people have okay.
01:05:39
Peter Dunn
What do you think, Dan? That's just cruel. What is wrong with you?
01:05:49
Kristen Ahlenius
I actually thought that was low labor is expensive.
01:05:54
Peter Dunn
You guys, I'm mentally prepared for $2,500.
01:05:57
Kristen Ahlenius
You're not prepared at all? Not even close.
01:06:08
Peter Dunn
My column this week, which maybe we'll talk about on the show next week that I wrote this morning, and it sort of. Goes into this car thing a little bit. I'm literally bleeding money right now.
01:06:17
Damian Dunn
I was just about to say, I think you may want to repurpose that money you're getting for the car to the air conditioner. You may not be able to afford that car.
01:06:24
Peter Dunn
That's what the emergency funds for. But I will say we all have seasons of life in which you just find yourself bleeding money. Dude, I think about this. I think about that. My daughter will be driving here in a couple of years, and then the car insurance. I am in an ugly season right now. No one feels sorry for me, and I'm not asking anyone, but I still have to mitigate these challenges. I need to find a better job. That's what I need to do.
01:06:52
Damian Dunn
Could you just store the car that you can't use right now for your daughter for a few years?
01:06:58
Peter Dunn
No. That's what she's asking, but no.
01:07:02
Damian Dunn
It's still one of the two cars that you had when we met, right?
01:07:08
Peter Dunn
Yeah.
01:07:10
Damian Dunn
Does that have over 200,000 miles on it now?
01:07:12
Peter Dunn
I don't know. No one knows. It's impossible to answer. How am I possibly supposed to know that?
01:07:18
Damian Dunn
How would you know that?
01:07:19
Kristen Ahlenius
That's why the two of you can't go car shopping. Pete doesn't know how many miles are on his.
01:07:26
Peter Dunn
Have. I sent it through the slack. I've been obsessed with these YouTube videos of this expert car salesman showing car salesmen how to sell cars. I can't stop watching them. I watched, like, three last night. I can't stop.
01:07:42
Damian Dunn
Are you going to go in and run the foursquare for the guy?
01:07:45
Peter Dunn
Oh, my gosh, it is so intense. He'll do his sales, and then he'll stick out his hand, and it's just, like, in the middle of it. I'm like a surprise handshake. Okay, well, bye. Right now. It's all very silly, but of like, here's the thing. Whatever.
01:08:05
Damian Dunn
Just try and do it online. It's no must, no fuss that way. Just send emails out.
01:08:11
Peter Dunn
That's what I used to do. Remember Jeff, the car guy used to be on the show years ago in a car dealership in Muncie, and he was a buddy of mine. And I would just say, hey, man, can you just find this whenever? And then he would and he'd have, like, one of his people just drive it down my house. I would just hand them a check, and it was over. It was, like, the greatest hookup of all time, and I missed that.
01:08:32
Damian Dunn
I am really surprised you don't have a car guy. Do you know how many car guys you could have right now if you just say, I'm looking for a car guy?
01:08:38
Peter Dunn
Okay. No, I don't like using my platform for stuff like that. I feel dirty.
01:08:45
Damian Dunn
Maybe we should talk offline. I might have a solution for you.
01:08:48
Peter Dunn
Really?
01:08:49
Damian Dunn
I might.
01:08:50
Peter Dunn
Okay, well, I welcome a car guy.
01:08:55
Damian Dunn
How do you feel about a 2003 Silverado.
01:09:00
Kristen Ahlenius
Hey, I put it here. One of those as well. Man, can you drive a manual?
01:09:07
Peter Dunn
I think ultimately, this is what keeps us all connected. And it was sort of my point of my comments. Morning is, like everyone's financial life is relative to themselves. So if you're having a challenge or a cash flow crunch or conundrum, what connects us is that feeling of trying to figure out what to do, and very few people don't have to do that. And I think the idea of, oh, it's a nice problem to have. Whatever. It's still a problem for me, and it's occupying a lot of brain space and decision making. So I think ultimately, that's what keeps most of the 99% aligned with each other. You know what I mean? All us real estate millionaires. I'm totally kidding. Okay, well, I'm going to leave. Just a long show. Jeez, I feel like we should have announced someone's death, at least I mean it's for this long.
01:10:03
Peter Dunn
I do have a death announcement now that I think about. So every year, there's rabbits in our yard. I don't know if you know how rabbits make other rabbits, but there are pictures online. Kristen and every year, we just named the rabbit that we see jeff. So there's always jeff. Well, I got a very chaotic text earlier in the week from my daughter saying jeff was found in the road, so rip. Jeff. I think it's jeff 4.0. But then again, every rabbit in our neighborhood is called jeff, so pouring one out for you, jeff. May you hop into the heavens. Stay getting money.
