00:01
Peter Dunn
Oh, not only this week on The Pete The Planner Show do we have financial tips for you, but we also have sartorial tips for you here on The Pete The Planner Experience. Welcome back, everyone. It's good to be with you. Joined as always by Damian Dunn. My man. How are you, Dame?
00:21
Damian Dunn
I am well. How are you?
00:22
Peter Dunn
Fantastic. And the queen of turtlenecks, kristen Ahlenius. Kristen, before the show, you were sharing some Turtleneck best practices with Dame and I sort of a weird choice of audience for I thought, you know, let's open that up a little bit and have you share your turtleneck tips with our audience. So Kristen, what have you learned about Turtlenecks?
00:47
Kristen Ahlenius
Well, you're kind of overselling it. It's just the one tip. Just that instead of all you're if you're a podcast listener, you're loving this. My turtleneck collar is tucked instead of the turtleneck being flipped out. And it's just a very different look. And I like it. It looks nice. I saw it on TikTok.
01:07
Peter Dunn
But you aren't saying it looks good. Your argument to Dame and I neither really, Turtleneck users, was that it felt better. And that's true. Okay, so it's dual purpose. It's sort of two things. It looks good, feels good, looks good, feels good. Dame, any fashion tips that you want to present today?
01:30
Damian Dunn
Bald guys should not wear turtlenecks.
01:32
Peter Dunn
That is aesthetically alarming for those that are in the note. Hello, everybody. Good day. Danza dame on the show today, we have the world's longest email. First three segments, we're going to read it. Fourth segment, we're going to answer it.
01:51
Damian Dunn
We're only partially joking. It is a great email. It is long.
01:57
Peter Dunn
Do you think when Chaucer emailed Canterbury Tales to his editor that the editor was like, jiminy Christmas is the world's longest email?
02:06
Damian Dunn
Yeah, it's going to take a couple reams of paper to get this thing printed out.
02:11
Peter Dunn
It's a really obscure literature joke that my wife would appreciate if she listened to this show. We were just talking prior to the show here about some interesting data that I've gathered in my life and I want to share it with you all. I've already shared it with Turtleneck Queen and Dame. So this whole crew here on the show, we are doing dry January. Dame correct.
02:37
Damian Dunn
Still going strong, Kristen?
02:40
Kristen Ahlenius
Still sober.
02:41
Peter Dunn
It hasn't gone is it is officially dry. Dry January. I am dry January as well. And so this year, because I have a whoop strap. And so I have data about my sleep and my heart rate and my skin temperature, all these sorts of things. The data from January 1 on and today is Friday the 13th. I don't know if I'll ever drink again. And by the way, I will probably very soon, but the data suggests that my resting heart rate has gone down nearly 20% over the last eleven days. 13 days. Crazy.
03:24
Damian Dunn
If you wouldn't have shown it to me, I would have not believed you.
03:29
Peter Dunn
It's compelling data that you can see. It just levels out.
03:34
Kristen Ahlenius
Some of the other data. Makes sense to me. But isn't alcohol a depressant? So the fact that alcohol is raising your heart rate just feels so counterintuitive. I looked at it. It's true. It happened, but it feels backwards in my head.
03:49
Peter Dunn
Well, I read something about this today because I knew you would ask. Actually, I just read something about it, and now I'm acting like I'm intuitive. So when you sleep, your body is incredibly active. However, alcohol interferes with that, so it forces your heart to pump faster and more to make up for the fact that alcohol is inhibiting your body working as you sleep. And so that's why is that the smartest thing ever said on this show? Didn't that feel very big?
04:23
Kristen Ahlenius
Could have been, yeah.
04:24
Peter Dunn
Speaking of, I got to go. Jeremiah notes. We answer my question from 2018 today. Really hoping Pete thinks my wedding is a great idea because we're married from almost five years now. Okay, so I didn't answer your question on the air. Jeremiah Odly. Enough. Didn't have time. Okay, we do have time for the world's longest question today, and we're going to start that in just a moment. More housekeeping here. Dame, everything good in your life? Anything you want to share publicly?
04:52
Damian Dunn
Aqua Duns hit the pool again this weekend, so good luck to them.
04:58
Peter Dunn
Oh, my gosh. Well, that is good. Can you send me some updates, please?
05:03
Damian Dunn
Absolutely.
05:03
Peter Dunn
The Land Duns are big fans of the Aqua Duns. Kristen, anything interesting in your life?
05:10
Kristen Ahlenius
I'm playing in a Yuker tournament this.
05:11
Peter Dunn
Weekend, so Midwest harry, I got a loner. How did your last Christmas go? Not like last Christmas. You're going to die. But how did the last one that you had, which was last Friday night, go?
05:26
Kristen Ahlenius
It was good. It was really good. I did get pots and pans, so my kitchen is far more equipped now than it was the week before.
05:34
Peter Dunn
Fantastic. I feel like I had something of note I was going to share with you all. My 13 year old girls soccer team that I coached, and they're all turning 14 this year. We were practiced this Wednesday, training, if you will, and on the pitch, not the field. And they don't laugh at me anymore, guys.
05:51
Kristen Ahlenius
Oh, no.
05:52
Peter Dunn
It just occurred to me, like, after doing goofy voices, I'm myself all the time, and they're just deadpanning staring me down. And I'm like and I called them out. I was like, so are we not laughing here in 23? Is this the year of not laughing at me? And then they just didn't even acknowledge it. I was like, wow, this is bad for my ego. I might have to quit.
06:13
Damian Dunn
I was just going to ask, are you to be able to continue as coach if you're not getting the feedback and the desired results, whether it's on the pitch or in your routine that you're looking for.
06:24
Peter Dunn
Well, damn. I think you've known me long enough to know that if someone doesn't laugh, am I the one to give up, or am I one to take it to an absurd level until I get what I want?
06:32
Damian Dunn
Yeah, it's going to go well. Trying to battle soon to be 14 year olds.
06:36
Peter Dunn
Wait till I show up in practice training next Wednesday in a costume. That's what I've decided to do. I'm going to get, like, a costume spiderman. I got to do something. I got to get the laughs.
06:47
Damian Dunn
I should go as Ollie's Halloween costume.
06:51
Peter Dunn
Oh, my God. I can't. All right. Thanks for making me remember that. Okay, let's do a thing here called radio. Oh, I know. It just occurred to me, actually, last week, I don't think that we've explained sort of what this show is. Some people get it.
07:14
Damian Dunn
Do we know?
07:16
Peter Dunn
No. Let's say there's someone new listening today, which why in the hell would anyone do this is a podcast that is the recording of a radio show. That's what I wanted to say. Okay.
07:29
Damian Dunn
Yeah.
07:30
Peter Dunn
We have a syndicated radio show, and so when we count down and we time things and we go out, it's all because I have to deliver four segments to the syndication network. One is nine minutes and 22 seconds, another is nine minutes and 23 seconds, and then the last two segments are nine minutes and 40 seconds each. So it's a show within a show, and I personally like the dynamic of we're going to show you what a show looks like to be produced, and then I like the in between stuff because we can be just a little looser, faster and looser.
08:05
Damian Dunn
The commercial breaks, if you will.
08:08
Peter Dunn
It was jeremiah makes an interesting point. I don't know how he has time for all this. This is a financial improv podcast. You know what?
08:16
Damian Dunn
That's not a bad description.
08:17
Kristen Ahlenius
So true.
08:19
Peter Dunn
I kind of feel that way. We did have a thing around the office a couple of days ago. Yesterday, all runs together. We were trying to say, who is the funniest person at our company? Obviously, professional comedian. Who is the funniest person at our company? So, Kristen, who do you think oh, my.
08:41
Kristen Ahlenius
That'S tough. Go to Dave. Go to Dame. Let me think.
08:43
Peter Dunn
Okay, dame, who do you think? The funniest person in our organization is.
08:49
Damian Dunn
Probably Chad Force, just because his sense of humor is very similar to mine.
08:55
Peter Dunn
Yeah, chad's. Very funny. Chad's. Very funny.
08:59
Kristen Ahlenius
That was my first thought, too, was Chad, because I go all the way back to the first time I was in office for the awards, and I was just like, how do you guys get anything done? But you two were like, ping ponging off of each. I in fairness, Chad, I don't know if Chad's that funny on his own, but he was pretty funny then.
09:19
Peter Dunn
I believe Molly to be the funniest person. Like, I think she's hilarious, but I work with her pretty close, so I talk to her. And then Greg got some votes, too. Greg got some votes, too.
09:30
Kristen Ahlenius
That's fair.
09:30
Peter Dunn
But Greg's more fun than funny. That's the thing about Greg. He's not telling jokes, but he's a lot of yeah.
09:37
Damian Dunn
Yeah, that's true.
09:39
Peter Dunn
Kristen, are you more fun or funny?
09:42
Kristen Ahlenius
Neither, really? Is that an option?
09:46
Peter Dunn
Yeah, I was just actually thinking about that. Neither one dame's a little more funny than fun.
09:52
Damian Dunn
Yeah, but that's not a big bar.
09:54
Peter Dunn
It's not a big bar, but there is some distinction. I'm definitely not fun and very funny. But Kristen. Maybe you're right. Maybe you're neither funny nor fun.
10:04
Kristen Ahlenius
I at work. I'm pretty different. I would say that if you ask someone outside of work, they would probably say more funny than fun. Because I just sometimes say things that are unhinged, and it's usually funny, and.
10:18
Peter Dunn
I'm just looking up definition of not funny. Not fun here on my iPad dictionary and it says gives turtleneck tips on a podcast you made me do. Just just saying, girl.
10:34
Kristen Ahlenius
Kristen, I only wear neutrals. Alanius and her turtleneck tips.
10:39
Peter Dunn
I think someday I'm going to buy you, like, a salmon colored sweater.
10:44
Kristen Ahlenius
Don't do it.
10:45
Peter Dunn
Blouse.
10:46
Kristen Ahlenius
Don't do it.
10:47
Peter Dunn
Do you have any blouses?
10:49
Kristen Ahlenius
No, I'm under 30.
10:52
Peter Dunn
Oh, good morning, Rick Swink. Wait, can we talk blouse? Can we do a little blouse chat?
10:56
Damian Dunn
Blouse talk? Blouse talk.
10:58
Kristen Ahlenius
I don't really even know what a blouse technically, blouse talk.
11:01
Peter Dunn
Wait, that way going deep. I got to go the other way.
11:05
Damian Dunn
I like it better. Blouse jet.
11:09
Peter Dunn
How's a blouse different than a shirt?
11:11
Kristen Ahlenius
I don't know. I have no idea. That's what I'm saying. I'm a young millennial. It's a shirt.
11:19
Peter Dunn
You know what? I'm going to regret this. Do you guys want to call Mrs. Planner on the air?
11:22
Damian Dunn
Yes.
11:23
Peter Dunn
No, I don't want to do that. But I'm going to text her. Why is a blouse called.
11:38
Damian Dunn
I Got the really Boring Answer Off of Google, but let's see what Mrs. Planner comes back with. Mrs. Advice, if you're watching, feel free to chime in.
11:55
Kristen Ahlenius
Does the blouse have buttons? Does it something to do with buttons? No, that wouldn't be right. Is it antiquated?
12:11
Damian Dunn
Okay, love Jeremiah's comment. Straight to the Tinder profile. Voted, quote, not funny, not fun at work.
12:17
Kristen Ahlenius
Oh, no. Pete just messaged you and I and said their power went out. Pete's frozen. I thought he was texting.
12:26
Damian Dunn
All right, everybody, so here's the situation. Our building was built in 1853.
12:33
Kristen Ahlenius
Really?
12:34
Damian Dunn
No, but it feels like it. We have spotty utilities occasionally, and every once in a while, we have flickers of power. We have Internet issues, who knows? So there's all sorts of things maladies that could fall on us any given day. And it looks like power has chosen to raise its head. So, Kristen, what do you feel? Do you think we should continue on with a question or should we let the people roll?
13:12
Kristen Ahlenius
I'm concerned because Pete is the host of this stream yard. We're not going to be recording anything.
13:20
Damian Dunn
It still says live. And I've got the little red dot in my chrome tab that says we're recording. I don't know, maybe we're.
13:31
Peter Dunn
Back.
13:34
Kristen Ahlenius
We thought you were texting. We didn't know.
13:38
Damian Dunn
We thought you're just waiting for Mrs. Planner's response is what I thought you were doing. I was like, well, he's dragging this out. I can't believe we're just dead air here, but whatever.
13:47
Peter Dunn
Okay. Hi. Here's the thing. We're getting fiber in the office today, and so there's a lot of cables and things around us. I don't know what happened, but I will note this. When the guy here doing the fiber, it takes every ounce of me not to make, like, fiber jokes. Sure you get plenty of roughage, those sorts of things. Let's hope that doesn't happen again. By the way, if it does happen again, you guys are running the clocks. The recording is still happening.
14:15
Damian Dunn
Oh, that's right. Yeah.
14:17
Peter Dunn
So make sure you just finish the job.
14:22
Damian Dunn
We will do our best in your okay.
14:27
Peter Dunn
Okay. Let's get started on the show. Anyway, point is, Kristen, very simple. I'm going to buy you a salmon blouse.
14:38
Kristen Ahlenius
No, I can't wear reds anyway, so that's no, you can wear reds. I can't. I have red undertones.
14:46
Peter Dunn
That's why no one cares. Kristen, have you ever heard you can wear any color? That's all.
14:53
Kristen Ahlenius
Then wear a turtleneck.
14:54
Peter Dunn
I'm going to call BS.
14:55
Damian Dunn
Turtleneck is not a color.
14:56
Kristen Ahlenius
Turtleneck. Turtleneck is not a color.
14:59
Peter Dunn
Oh, I could wear a turtleneck. I would just aesthetically, I would look.
15:02
Kristen Ahlenius
Like something aesthetically pinks. And reds don't look good on me.
15:09
Peter Dunn
What color do you look bad in? Most colors I look bad in flesh tones.
15:18
Damian Dunn
I don't even know anymore because I have like, a very limited palette that even hangs in my closet.
15:23
Peter Dunn
But let's start the show. I think people turning this off, they're like shamani christmas life is getting worse. Three, two, one. This week on The Pete the Planner Show, we answer your morning questions. Here's how the show works. We check our email and you email us at askpete@petetheplanner.com. By we, I mean Kristen Ahlenius, the Director of Education at Your Money Line, and Damian Dunn, who's the Vice President of Advice at Your Money Line, and me, Peter Dunn. Rock and tour. I don't know what that means. Hey, guys.
15:54
Damian Dunn
Hey, Pete.
15:54
Kristen Ahlenius
Hello.
15:55
Peter Dunn
What is a rock and tour? I feel like some people have to look it up. We have the world's longest email that we're going to be start reading right now so that we don't go into the next block of programming on your radio station. So you got everybody good? Are you ready to go? I'm going to skip a lot of lines here so we can get it done. It's a great question. This is a question that came in via Askpet at Pete's Planner.com. Hi, Pete, Damien and Kristen. My husband and I have been debating the best way to purchase a home. We live in a mid sized city and want to stay in city bounds, much like the rest of the country. Housing values have risen significantly since we started looking in 2020. Our budget was originally 425,000 American dollars, but now has risen to $500,000.
16:37
Peter Dunn
And I'll do the math for you, everybody. That's the $75,000 difference or even a little more, and I say a little more given that there's going to be some flexibility in this question coming soon. We currently own a home and have at least $150,000 in equity. We owe 110, so the home is worth $260 to $300,000. The equity would be used towards the new house. We have one kid in daycare, no other debt, and live within our means. Anytime someone says they have one kid in daycare, it makes me think, will they have one kid in daycare and then like, one they just leave in a drawer at their house? You ever think about that?
17:12
Damian Dunn
Absolutely.
17:12
Kristen Ahlenius
No.
17:13
Peter Dunn
Okay. We really want to keep our kristen, you don't think that no. Okay. We got to get through this. We really want to keep our mortgage payment under $2,000 a month to feel comfortable with our budget and life expenses. Dame, are we tracking so far?
17:28
Damian Dunn
I think so.
17:29
Peter Dunn
Okay. Additionally, I have a mutual fund that was a nest egg started for me as a baby. Currently valued around $540,000. Yes, I'm aware of my privilege. It is mine to use as I see fit. I've tapped into it only a few times. Some college expenses, a car, the down payment on my current house. I wanted to keep going all back to Europe, a Maserati, the finest Caviar. But no, he doesn't put that. It has seen some huge swings over time given the market, but has recovered all of the losses it saw in early 2022. That's actually impressive.
18:04
Damian Dunn
Yeah.
18:06
Kristen Ahlenius
My eyebrows are skeptical. Go ahead.
18:09
Peter Dunn
Is that your color palette? Skeptical?
18:12
Kristen Ahlenius
Yes.
18:13
Peter Dunn
We were planning on using some of it to help with the down payment of the house. But here's our debate. With the rise interest rates, we feel our purchasing ability has declined. We want to keep our payments under that $2,000 a month cap. Of course they have. Right? I mean, we're all in alignment there, right? Yes. House prices that would have meant one $800 payments are now significantly higher because of the interest. I suggested that maybe we use a larger chunk of the mutual fund along with the equity we will get from the sale of our current house to buy our house in cash. For instance, we could have a budget of $550,000 taking the house equity and the rest from the fund. With no mortgage, we could pump money back into the mutual fund if we did $1,500 a month, it would take around 17 years to get back to the current value.
18:58
Peter Dunn
That is not even accounting for growth over time. It would be a lower payment than if we had a mortgage that frees up some extra money for other things. Son's, college, retirement, backpacking to Europe. In my brain, 17 years to repay money to myself. Sounds like better than 30 years to repay money to bank with an interest. Of course there'd be a huge tax hit for taking the money out of the fund. Huge. We would have to pay that off using savings and the money would have spent on the mortgage for a few months. But would this be a smarter decision? Would it better to buy the house in cash instead of a five, six or even higher percentage mortgage? Thanks for your thoughts. I would prefer not the use of my name or city or making fun of backpacking trips across they didn't put that.
19:42
Peter Dunn
Okay. How much time do we have left in the show?
19:45
Kristen Ahlenius
None.
19:45
Peter Dunn
I love this question, by the way. Can you hear noise in the background? The fiber man is over there putting fiber in our office.
19:53
Damian Dunn
You're not going to like the answer so let's keep going.
19:55
Peter Dunn
Okay. For those listening on the air or off the air, I don't know how you would do that. I'm sorry for the noise. Not my choice. Kristen, how do you begin to break this mean? I think it's a very simple question dressed up in a lot of words.
20:10
Kristen Ahlenius
I would agree with that and I think that maybe looking at the pros and the cons of the proposed plan, there are definitely pros here. A pro is that in 17 years they've repaid their mortgage free and their kids around college age. I would presume if the kid is currently in daycare. I think that's a pretty big plus.
20:34
Peter Dunn
Yeah. Dame, here's where I struggled with this. What are the variables that got them to repayment in 17 years? What rate of return and growth did they use on that money? Have you run it?
20:46
Damian Dunn
No. A better show would have run those numbers but I did not run those.
20:50
Peter Dunn
Numbers ahead of time, thank goodness, because I was going to feel inadequate had you done that. My gut tells me that the person used below 8%, I think it was six.
21:02
Kristen Ahlenius
I was messing with the numbers this morning but I think it might have been maybe eight minus they maybe factored in a little bit of inflation. I don't know how they got to that, but I think it was probably about six.
21:14
Peter Dunn
Maybe the best way to actually answer this question is to go a route we typically don't go, but it's to say and I'll just put it to you directly and then I'll do it myself when you guys are done. But what would you do we try not to do that because it's not always that clean. Dame, I'm going to start with you, the senior member of our team. What would you do if it were you?
21:46
Damian Dunn
This is a really challenging scenario if I was in their shoes, because having just a pile of cash sitting there to be used for whatever you want would stress me out. Am I using it the right way? The first thing I would do is, ascribe a specific goal to at least a portion of that, make it.
22:10
Peter Dunn
Put.
22:11
Damian Dunn
A fence around it. If that situation comes up, I use it. If not, it's there for retirement or whatever in the future. So I would look at the rest of everything that I've got going on. Am I on track for retirement? Am I on track for everything else? And then how much of that money do I have left to use for housing? And if it's there, I probably use it.
22:32
Peter Dunn
All right, so you were saying you would use the money for the down.
22:36
Damian Dunn
Payment after I made sure I had all my other bases covered. Other than that, then I just get a mortgage and do it the old fashioned way.
22:44
Peter Dunn
But the person's question was, do they just take the whole thing and pay cash for the house? Would you pay cash for the house?
22:52
Damian Dunn
Only if all my other goals are taken care of.
22:54
Peter Dunn
Okay. Kristen, what would you do?
22:56
Kristen Ahlenius
No way. I disagree with Dame on this. I first I would come all the way back to what I think is the true question. And if we need to do all of this fancy accounting where we take money from here, pay these taxes there, et cetera, et cetera, do I really need to move? And I know that people hate that question. I hate that question, but do you really have to? And if the answer is yes, I think what I would do is I would take some money out of the mutual fund, or I wouldn't take more money out of the mutual fund. I would put the equity down if I needed to supplement a little bit of cash, I would supplement it monthly out of the mutual fund, and then I would refinance when interest rates were hopefully better than they are now.
23:43
Peter Dunn
Man, we've got a minute left. But here's the thing. I agree with Kristen 1000%. I would barely touch it for the down payment. Barely. This is going to turn into $2 million in 17 years if you leave it alone. $2 million if you leave it alone. And if you say, oh, well, we don't own our house outright. Oh, cool. An illiquid asset that has no assigned growth rate to it, then you have to borrow from it to have it make sense. 0% chance I would liquidate an asset. I would absolutely let it affect your buying decision, which is no one wants to hear. Then I would refinance that sucker in about three or four years when interest rates come down, and I would change it to a 15 year mortgage. I mean, this is a million dollar mistake. Multimillion dollar mistake if you do it the wrong way.
24:43
Peter Dunn
I will be more dramatic about this after the break right here on the pizza planner show. Like, how loud is it?
24:52
Damian Dunn
I only heard it that one time after you pointed it out. It's fine.
24:55
Peter Dunn
I'm sort of silently seething my heart's beating faster. Clearly, I haven't had any booze.
25:03
Damian Dunn
Whoop is going to have a field day with you?
25:06
Peter Dunn
Actually, let's check my heart rate right now. Let's do that and see.
25:09
Damian Dunn
I don't think I did a very good job of explaining my clearly you.
25:13
Peter Dunn
Had a terrible answer. How did you come up with that?
25:17
Damian Dunn
No, because I'm a lot closer to where you are. Because 78 listen, if my retirement isn't on track from where it should be, I'm fencing that money off. It's not in the consideration. If I want to make sure that I've got a good chunk of my kids college paid for, which I would I'm not touching that. I am going to be lopping off huge chunks of money that I would not have access to for this specific purpose. There's no way I'd be able to pay for this whole thing in cash. I would be able to access some of it for a down payment, though.
25:49
Peter Dunn
Okay, so first, the person does not make much mention of retirement other than a phrase that says that frees up some extra money for other things. Son's college account, retirement. So they would use supplemental money to put more money towards retirement. Tells me that retirement is not taken care of.
26:07
Kristen Ahlenius
I think we missed this is, like, good content for the second segment.
26:11
Peter Dunn
Okay, well, let's just stop.
26:12
Damian Dunn
Let's shut up.
26:12
Kristen Ahlenius
Okay.
26:14
Peter Dunn
Sorry. Your turtleneck got me distracted. It's turned instead of out. Yeah. And so it captures the eye.
26:20
Kristen Ahlenius
It's because I can breathe.
26:22
Peter Dunn
That's good. In three, two oh, not ready. Stop it. It's the turtleneck. It's so distracting. Kristen, be a professional. Let's just have, like, better neck hygiene.
26:41
Kristen Ahlenius
That's what j o. Meant.
26:42
Peter Dunn
That is what J o meant. J O texted me last week. She's like, oh, I'm sorry. Did I say something wrong? I'm like, no, I'm just a jack fella. Okay, I'm trying to time up the segment here in three, two, one. Back on the Pete the Planner show, answering the world's longest email question. Here's the essence. A person has $540,000 in a mutual fund. They just sold a home and want to buy another home. And they want to know, should they pay cash for the new home since interest rates are higher, and then they could just rebuild the mutual fund. It would take 17 years to get back to even. And that's sort of where we paused. We thought Dame said, go ahead good idea. And then during the break, he said no. That's not what I said. But we think he said that because Kristen and I actually gave good answers, which were, don't do that.
27:36
Damian Dunn
Yeah, it was no. No was your answer.
27:38
Peter Dunn
Yeah, we said no. Dame said yes, if you've taken care of everything else. And then we talked about it during the break, and then Kristen said, Peter, shut your lips. Let's talk about this on the so, Kristen, what point were you going to make that you made me stop talking about it during the break?
27:54
Kristen Ahlenius
Yeah, you really misquoted both Dame and I. There in your summary.
27:58
Peter Dunn
That's my job. That is my job.
28:01
Kristen Ahlenius
I was going to say that something that I think we overlooked, that pushed me to the decision that I made is that in the description of the mutual fund, the emailer said that they've tapped into the mutual fund for other big purchases. Behaviorally, that really concerns me, because if you've used this kind of as your intermediate savings account, as you've gone, maybe they've put more money into it along the way. I don't know. That concerns me from a behavioral perspective. Are you really going to put $1,500 every month into this account when your kids in travel soccer in seven years? I don't know.
28:42
Peter Dunn
Dame.
28:43
Damian Dunn
I agree. No, my point was that maybe it was misunderstood, but I'm going to be cordoning off huge amounts of money out of this, and I would only have a very small amount left for a down payment or additional whatever to try and get into this new house. I didn't even try to imply that I would just stroke a check out of the account and buy the new house and then repay it. Anybody that knows me know that's not how I would do things.
29:12
Peter Dunn
Yeah, it's weird, because when you started answering, that's what I heard, and I was like, wow, he's either not communicating what he means or he's lost his mind.
29:22
Damian Dunn
No, I've kept my faculties, and I will stand by that.
29:30
Peter Dunn
Kristen I think it is a behavior question, too, right? It's like, okay, well, if that faucet is open, when does it ever get shut? And I don't know, it's interesting. He's like, I can do whatever I want with the mutual fund. Awesome. Great. That's fantastic. I would not do this because, again, let's look at it. $2 million, that's at an eight and a half percent interest rate or pardon me, rate of return. So $2 million is what this 550 can turn into. 540, whatever, no one cares in 17 years. And then if you play your cards right with refinancing in a couple of years and go into a 15 year mortgage and I don't know, their cash flow situation, they could also own the home outright at that point in time.
30:19
Kristen Ahlenius
And I also want to be clear that I'm not throwing any shade at the emailer. I think that. Most of us would not be capable of repaying an account that someone wasn't forcing us to repay. I just really think that behaviorally, collectively, we are not capable of doing that. I'm not calling the emailer out. I want to make sure that's clear.
30:41
Peter Dunn
I am. No, I'm not. You're right. It is so hard and this person is so deeply entrenched in this situation that it calls for a deep breath and it calls for an email to someone that knows what they're talking about. I hope we prevented a mistake, right? I'm not so sure what will happen. Dame, we have seen a version of this so many times over the years. This seems extreme because of the ability to stroke a check because of the mutual fund. But we see this all the.
31:22
Damian Dunn
A. I just had a phone call like this week, honestly, with someone who is going to be inheriting a large sum of money and were wondering if they should basically liquidate. Good. Chunks of it to get rid of some debt and had to kind of talk them through the process of here's, what that's going to cost you in the long run? The debt is manageable. Now, I understand the desire to be debt free that fast, but nobody is forcing your hand right now to do that. And so there's no reason to lump other really big decisions in amongst the emotion of going through this big change in your life. So let's let things play out for a little while, regrip in six to twelve months, and we'll make the best decision we can at that point.
32:06
Peter Dunn
You know what doesn't make sense to me, Kristen, that might be a mistake in how the person told the story is how did their portfolio recover from the beginning of 22 to the end of 22, and yet that sort of investment objective and style would lead to recouping the money in 17 years. Those two things don't make first of all, maybe this is a question for Dame, because he tracks his stuff, I think, closer than you and I do. Dame, what sort of portfolio could recover in 2022?
32:42
Damian Dunn
The kind that never went down in the first place. They were invested in Berkshire Hathaway the whole time.
32:46
Peter Dunn
Here we go. Don't do this. I would like to say Dame tried to cheat again in the 2023 stock pick thing by taking Bed, Bath and beyond because it's about to go bankrupt. And it went up like 15% this week. So we should have let him keep it.
33:00
Kristen Ahlenius
Should have let him. You're welcome.
33:03
Peter Dunn
Yeah, I think he's just out there telling jokes like, Dame Chappelle sounds good, too.
33:08
Damian Dunn
Keep that man's name out of your mouth.
33:11
Peter Dunn
By the way. That's from Molly. Anyway. What portfolio? Honestly, what portfolio? A mutual fund. What mutual fund? That's not even a portfolio. It's a mutual fund. What mutual fund?
33:25
Damian Dunn
Mutual fund. I have no idea. I mean, you could have feasibly had a portfolio of specific equities, but you would have had to have the best stock picker in the world and get lucky on top of that to be able to go through that last couple of years and have be in complete recovery by the end of 22.
33:44
Kristen Ahlenius
If they're a low to no risk investor like we're talking cash equivalents, high government bonds, does that change your answer to the question?
33:55
Peter Dunn
Potentially. I just don't think that's the case because they said it's fluctuated significantly over, has seen some huge swings over time given the market, but has recovered all of the losses it saw in early 2022. It's either a detail that was sort of messed up because it's impossible.
34:14
Damian Dunn
What's? Huge Pete. Depending on the investor type, a fluctuation of 5% in your portfolio might feel like the world is ending. But if it's 30% now, a lot of people are going to get the attention on that one.
34:31
Peter Dunn
Interesting. .5% of a half million dollars is a $25,000 swing and $25,000 is a lot of money. Interesting. Okay, so I don't know, because here's where we've now landed. We've landed the fact that we think they have an incredibly conservative portfolio. Wait a second. It was a nest egg started for me as a baby. So if it's that conservative, how in the world did it grow?
35:01
Kristen Ahlenius
Maybe it was only half a million to begin with. It's grown 40,000 in 30 years.
35:09
Peter Dunn
Dan's, a Facebook Live viewer and former listener of the year. She brings up a really interesting point here. Not that I really care, but it's worth mentioning in the last minute. What would Dave Ramsey say about this? What is Dave Ramsey's advice here? Of course, if you don't know, dave Ramsey is a personal finance expert, much like and, right? Well, Kristen, in the sense that you guys are both big deals. They disagree on about everything, but they're both big deals. He's like, well, no, you don't go into debt. So he would take the mutual fund, right? Is that what Dave Ramsay would say, take the mutual fund?
35:50
Damian Dunn
I don't know in this case if he would or not, because he's okay with, I think, 15 year mortgages, but he is very anti debt.
36:01
Peter Dunn
I think you would say use the mutual fund.
36:03
Kristen Ahlenius
I think he would, too.
36:05
Peter Dunn
I don't know. Boy, this show just turned into US. Speculating about what people on other shows would say. That's good. We may have jumped the shark. All right. Coming up after the break, how do you choose a financial advisor? Popular question in the Inbox this week, so we'll talk about it right here on the Pete the Planner show. Dame Ramsay, what would you do?
36:26
Damian Dunn
I'd go take a ride in my pickup truck. But never mind.
36:29
Peter Dunn
Don't do it. What do you think the real story on that email is? I'm with you. I think it could be a really conservative investor. And that's the thinking that's why it took 17 years.
36:44
Kristen Ahlenius
I think that could be true. I still don't know if, behaviorally, if I would be comfortable with them taking such a large chunk out, because we also totally ignore the fact that we're talking about 15% taxes more than likely on whatever they're taking out that either has to come out of what they're taking from the account or they have to come off cash to do it. I don't like either one of those things.
37:06
Peter Dunn
You're exactly right. All right. Okay.
37:13
Kristen Ahlenius
Did you chicken out of your proposed topic?
37:15
Peter Dunn
Well, no, I mean, we've got these other ones.
37:17
Kristen Ahlenius
Okay.
37:19
Peter Dunn
Jeremiah notes. Dave would say don't buy the house until all the other debts are paid to use mutual funds to clear the debt and then buy a 15 year note. Okay. Jason says he would not say to sell. He'd say to keep the money invested and put future earnings toward paying off the remaining debt after investing 15%.
37:38
Kristen Ahlenius
Okay.
37:40
Peter Dunn
Yeah, I don't know.
37:41
Damian Dunn
Can we never speculate about that again?
37:44
Peter Dunn
You know what? I think you're right, dame, that's on me.
37:50
Damian Dunn
Appreciate you.
37:50
Peter Dunn
Next segment is what would Susie Orman do? Wwsod what would Tony Robbins do? He'd walk on hot coals and tell you to try harder.
38:05
Damian Dunn
And then he'd fly to his island.
38:07
Peter Dunn
He'd fly to his know. Who cares? Okay, let's start a segment. In three, two, one. Back on the Pete the Planner show in my Indianapolis Business Journal column a few weeks ago. Talked about like, just get a financial advisor. What are you doing? What are you doing? And then we got a bunch of questions on it. So we got three variations of the question, and I'm going to read them all and they'll turn into this mega question that Kristen will seamlessly answer along with Dame Ramsey saw something online from you. I'm reading the question. We fear that we have wasted the past ten years of our money to learn that we have earned 2% on an overall return with our current advisor, we ask him, how is this possible? And he changed the subject. Basically. How do we know if we are safe to stay with him 2022.
39:04
Peter Dunn
We earned -30% but he claims this is for everyone thank you for your insight. I'm going to search for your podcast next. Thanks. You know what? We got to pause and hit this one first because this can't get lost. Yeah, no, I agree that everyone lost 30% last year. I mean, everyone's strong. Dame, I lost at least 30% last year.
39:28
Damian Dunn
You? Yes.
39:30
Peter Dunn
Christy?
39:31
Kristen Ahlenius
Yeah, probably.
39:33
Peter Dunn
Okay, high twenty s. Okay, so that's true the last ten years to have earned 2% overall not 2% average. 2% overall or 2% average, what's it really matter?
39:48
Kristen Ahlenius
Not so good.
39:49
Peter Dunn
That seems bad.
39:52
Kristen Ahlenius
It's not good.
39:53
Peter Dunn
Dame?
39:54
Damian Dunn
Yeah, I'm trying to come up with scenarios to try and back the advisor a little bit, but I'm going through and I don't know even if you had the worst luck with mutual funds, it seems unlikely that you would have averaged 2% or just 2% overall over that time period with just bad picking. Maybe there was an aggressive trader and he was in and out of stuff all the time and really hurt him, but I don't know.
40:24
Peter Dunn
Yeah. Here's what worries me about it. I don't mind if people underperform the market, but when they do, then they should have downside protection. Yeah. If you're down 30% in a year that everyone else also is down 30% a year, then you should have enjoyed the spoils. Here's a possibility. You want to get awkward? No, that can't happen. Well, no, we could get awkward. What I was going to say isn't reality. I was thinking, is this an indexed annuity? But there would be downside protection downside. Yeah. Which is the opposite of what I meant. Yeah. I don't know. I would actually write your annual returns for the last ten years on a piece of paper and then next to him, go and find the S and P 500 and write the annual returns next to them and see where the difference is. Just as a starting point.
41:17
Peter Dunn
Not as a decision point, but as a starting point. Shaking your head.
41:20
Damian Dunn
It's a starting point, but what's the likelihood that's their actual benchmark?
41:25
Peter Dunn
Well, you're right, but if they're down 30% this year, then it has to be their benchmark.
41:31
Damian Dunn
No, it doesn't. You could have some really crappy investments that were down over what their peers were and still be down 30%, even though your peers were only down 23.
41:41
Peter Dunn
You ran the data for us this week that pull it up a 60 40 portfolio in the last ten years. You calculated this week or last week, didn't you?
41:53
Damian Dunn
It was this week.
41:54
Peter Dunn
Okay. A 60 40 portfolio, 60% equities 40% bonds over the last ten years has averaged, what? Okay, so what's a full 100% equity portfolio on an S and P 500, please. I love call and response data from Dame on these podcasts. See, by the way, this goes back to our last question in terms of rates of return and what is acceptable, I just also have to know yeah.
42:30
Kristen Ahlenius
The only thing that I can think of as justification is if we had a shift investment strategy were these people kind of sidelined and they were scared to be involved in the market, and then they jumped in full bore in the last two, three years. And that's about the only I'm trying my wheels are turning. That's about the only thing I can think.
42:54
Peter Dunn
Okay, so let's try to answer the question here. Shouldn't this person go get a second opinion? I mean, the tough part about that I mean, you should, but every second opinion is always going to sell against the first opinion.
43:05
Damian Dunn
Absolutely. Yeah. They're kind of in a no win situation to be honest because, well, wherever you go, you're exactly right. They're going to hear why that person was wrong and how we can fix it and do better. Or you just stay with the horse that you rode in on.
43:22
Kristen Ahlenius
Force your advisor to answer the question. There's no changing the subject. This is your money, this person's being paid. You say, I want to understand what I'm invested in, and I want to understand why I have an average 2% rate of return. There should be a reasonable answer. Here.
43:39
Peter Dunn
Email number two. Hi, Pete, your recent column on the IBJ recommends that readers get a financial advisor. I'm curious to hear your thoughts on something I heard a few years ago that many financial advisors are brokers who make money by selling particular high commission investments, that they don't have a legal fiduciary duty to do what's best for their client, and that you should seek a non broker dealer affiliated fiduciary instead. Having never worked with financial advisor before, it spooked me a bit. Scott B. Do you think the B stands for Scotty, not broker. No, I think it's a little over the top. Yeah. You want a fiduciary is sort of how you answer this question, because the assertion that many financial advisors sell particularly high commission investments isn't necessarily true. Some. I don't know about many. What do you think, Dave?
44:35
Damian Dunn
Unfortunately, that's just kind of the reputation that the industry has in So. Yeah, you're absolutely right. There are advisors out there who sell high commission products, annuities or whatever else might be in the portfolio that they're trying to push that week. But there are a lot of great advisors out there. You do want a fiduciary. You could work with a certified financial planner. CFPs are bound to be fiduciaries, whether they're working in an RIA or at a broker dealer, whatever. If you run into a CFP, they are bound to be a fiduciary by their annual oath that they stand up and swear.
45:15
Peter Dunn
Their annual oath? Yeah.
45:18
Damian Dunn
I can't tell you about it because there's a secret handshake.
45:21
Peter Dunn
Kristen. Have you ever seen The Wolf of Wall Street?
45:23
Kristen Ahlenius
Yes, I have.
45:24
Peter Dunn
So at the ten minute mark of the movie, matthew McConaughey sits down with Leonardo DiCaprio and tells him how Wall Street works. How do I know this? Because I thought about it last week and I went to watch it and I made my wife watch it because it's the greatest. If you don't mind blue humor. It's inappropriate. A lot of bad language vary the whole movie, which is why it's great. But that ten minute mark, it basically says what the old reputation of Wall Street used to be to Dame's Point. Right? I don't know. This is just a little I just actually haven't even heard this perspective in ten years or so. I feel like the industry has really sort of cleaned it up with sort of a focus on fiduciary practice. I don't know, but I feel this person that is a thing. It has been a thing.
46:15
Peter Dunn
But go find a fiduciary, and it solves the problem.
46:17
Damian Dunn
Scott, there's a lot of good advisors out there.
46:19
Peter Dunn
Which gets to question three. Dear Pete, thanks for the column about need a financial planner. I'm on board.
46:25
Damian Dunn
Cool.
46:25
Peter Dunn
Now what do I do? How do I find one? Thanks, Mandy. Dame. I mean, you're a CFP certified financial planner, and so have you went to a CFP website? Can you find CFPs? Which is a good thing to be. Isn't that a good place to start?
46:42
Damian Dunn
Yeah, you go to CFP board and you type in your location, and they'll give you a list of all the CFPs who have said, hey, I'm open to working with new clients, and they'll be on there. And I do appreciate Kristen trying to keep us in check with how to properly use the mark.
46:59
Peter Dunn
What is it?
47:00
Kristen Ahlenius
You have to think professional after CFP.
47:04
Peter Dunn
Look, I guess maybe here's a different point. I was a pretty good financial advisor back in the day. Was never a CFP.
47:11
Damian Dunn
Nope.
47:11
Peter Dunn
Never CFP. And Kristen knows about everything. She's not a CFP. A lot of people on our team have designations. I'm not a CFP, so you don't need a CFP. But if you're really trying to shortcut the process, it's an interesting place to start. And if a person doesn't have a CFP, it doesn't mean they don't know what they're talking about. They just don't have the CFP. Being a fiduciary, though, is certainly something that you want to look for. All right, so it's with that, we're almost at the end of the show. Coming up after the break, biggest waste of money of the week. It's always a popular segment. All that's next on the Pete the Planner show. I don't know if it's good or it's bad, but it is certainly weird. All that's next on the Pizza Planner show. I'm Pete the planner 4 seconds early.
47:52
Peter Dunn
You know what that means, kristen more.
47:54
Kristen Ahlenius
John Mellenkamp for the people.
47:57
Peter Dunn
Johnny Cougar for the people.
47:59
Damian Dunn
There's actually a fiduciary designation that you can get. At least they're using, I think, is what the initials are.
48:07
Peter Dunn
AIF. Oh, I've seen that. I never knew what it was.
48:11
Damian Dunn
Rakinteur, by the way. A person who tells anecdotes in a skillful and amusing way.
48:17
Peter Dunn
There you go.
48:18
Kristen Ahlenius
Definition. Pete the pointer.
48:20
Peter Dunn
I don't know about that. Wait, what is it again? Read it again. Gosh darn it.
48:26
Damian Dunn
A person who tells anecdotes in a skillful and amusing way.
48:29
Peter Dunn
I am a know.
48:33
Kristen Ahlenius
I don't know. Fine.
48:34
Peter Dunn
I saw someone describe themselves as a rack and tour, and I know this person not a rack and tour.
48:42
Damian Dunn
How dare you talk about Neil that way?
48:44
Peter Dunn
No, you know what? Maybe doesn't that sound like something he would say? Holy moly. Go ahead. AIF.
48:55
Damian Dunn
The accredited investment fiduciary. AIF.
48:59
Peter Dunn
All right, we got to get going. Sorry, I got a gig up in the traffic country. Of the world. Never mind. I don't want to think of me anyway. Let's start the thing here. Biggest waste of money of the week. Okay, in three, two, one. This week's biggest waste of money of the week right here on the pizza planner show is I'm definitely stalling because I got to pull it up is the scent LDN helmet candle. Oh, I'm showing the price. Yeah.
49:36
Damian Dunn
It's going to be a pretty easy guess.
49:39
Peter Dunn
Did you see the price? Yes, dang it. Football and candles sound like an OD pair, yet this helmet candle proves they can go together. Man, I am so upset right now.
49:52
Kristen Ahlenius
I'm so happy I live another week.
49:55
Peter Dunn
This detailed piece has stars one side and stripes on the other. Honoring the game is an American tradition. It measures nearly nine inches long and six inches high, weighs over five pounds. Kristen, are you a candle person?
50:11
Kristen Ahlenius
I do have quite a few bath and a five.
50:15
Peter Dunn
That's why they're not going out of business. Is a five pound candle heavy? I mean, that's a big one, right?
50:20
Kristen Ahlenius
That's a big candle.
50:21
Peter Dunn
It's made from natural coconut wax, hand poured and crafted in London, UK. Each candle is unique and is best used as a display piece. Please keep it away from direct sunlight. So it's $295 for this helmet candle. I would have had you guessed, but I messed up when we had the meltdown earlier. That's what happened. The meltdown. Here's the strangest part. Why is an American football helmet candle made in the UK. Football over there is soccer.
50:56
Damian Dunn
Nobody cares.
50:58
Peter Dunn
I don't. $95 for a candle.
51:01
Damian Dunn
Jeremiah's got the best comment of the day, though. Burn one down.
51:05
Peter Dunn
No, we're not going to make fun of that.
51:08
Damian Dunn
All right, Dame, what's in the news this week?
51:08
Peter Dunn
We're not doing that one. All right, Dane, what's in the news this week?
51:12
Damian Dunn
Ladies and gentlemen of the audience, I would normally have passed over this story. However, after last week's stock picking extravaganza for the end of the year, I feel obligated to bring it back up and let Pete and Kristen state their cases on whether or not this is an encouraging move for their pick. Tesla cut prices for some of its vehicles sold in the US. By nearly 20%, aiming to lure new buyers. At the time, Wall street is concerned appetite for the car makers vehicles is weakening. The cuts, which span Tesla's lineup, are likely to allow some buyers to qualify for a $7,500 US. Government tax credit. Elon's car company slashed the price of its baseline model y crossover by almost 20% to just under 53 grand, and the model three is now just under $54,000. So, Pete, does this news encourage you about your pick?
52:14
Peter Dunn
I'm going to answer that question directly because I like how you've set this up, but I just wanted you to know that my next comments in no way reflect the idea that I'm happy that people will lose their jobs. This is circling the drain, baby. This is good news for me. Who chose Tesla as my in an entertainment pick? Do not follow our financial advice. My loser of the year. So, Kristen, what say you? Because you are on the other side of this. You said, I think you believe Tesla's amazing. Something like that.
52:46
Kristen Ahlenius
It's exactly what I said. That's exactly what I said. It makes me nervous. I wish that Tesla could get out of the news a little bit for my stock pick. I think it's fine. I'm not sweating yet.
52:58
Peter Dunn
Dame, what do you think? You're the neutral party here.
53:00
Damian Dunn
I am the neutral party here. I think it makes me nervous for Kristen as well. I wouldn't say that it's a harbinger of good things to come for Pete's picks this year, but it does raise some flags.
53:18
Peter Dunn
You know what's weird about our I was thinking about our stock picks again over the weekend. So, Dame, you beat me two to one, right? You beat me in two categories. I beat you in one. Yet coming away from that show a couple of weeks ago, at least, or whatever it was, it made me feel like I got just absolutely killed. Yet I only lost by one.
53:40
Damian Dunn
I only lost because Elon bought Twitter.
53:43
Peter Dunn
Yeah. And now Kristen's betting on that man.
53:46
Kristen Ahlenius
No, that's not fair.
53:49
Peter Dunn
Hand down. Man down, mama. There goes that man, she says. I don't know. All right, good. Next.
53:56
Damian Dunn
According to the National Association of realtors, the average mortgage down payment among first time home buyers last year wasn't the conventional 20%.
54:05
Peter Dunn
Of course it wasn't.
54:07
Damian Dunn
Guessing game.
54:07
Peter Dunn
Yeah.
54:08
Damian Dunn
What was it last year?
54:10
Peter Dunn
Never 20%.
54:12
Kristen Ahlenius
Yeah. For a conventional mortgage.
54:16
Peter Dunn
Okay, Kristen, last year, 2022. What do you think the average down payment was? Oh, this is great, because here's what first time home purchases, first time home buyers. Okay, that's important.
54:27
Kristen Ahlenius
Five.
54:28
Peter Dunn
I was going to say, do you want to go first or second?
54:30
Damian Dunn
She answered that question.
54:32
Peter Dunn
Okay, I'll take the over. I'll take the over.
54:42
Damian Dunn
That's not the game were playing. But you win. Because it was 6%.
54:47
Peter Dunn
I knew it was six. I was going to say six, but I didn't, so it made it seem like I didn't win. You know what? That doesn't bother me one way or the other. Because if depending on how it's creatively financed or you get, like, two loans and that's not surprising given how hot the market was, right.
55:03
Kristen Ahlenius
Not surprising.
55:05
Peter Dunn
Now going into this year, if people do that and then they get an Arm good to get ugly. Actually, arm is good now. It wasn't good a couple of years ago.
55:20
Damian Dunn
All right, do you want to talk big banks and their outlook on the economy coming forward, or do you want to talk eggs?
55:29
Kristen Ahlenius
Eggs.
55:30
Peter Dunn
Eggs. I've got a great egg story for the week, too.
55:33
Damian Dunn
Dump your flaxseed and aquafaba. You might be able to you might be able to afford to bake with actual eggs again soon.
55:46
Peter Dunn
Egg prices are finally you know what Aquafaba is, Dave?
55:49
Damian Dunn
I have no idea. It was just chickpeas.
55:53
Peter Dunn
Aquafaba is like an egg white alternative. Okay.
55:59
Damian Dunn
Egg prices are finally starting to come down. I'm trying to deliver good news.
56:05
Peter Dunn
Sorry, dame would never he would never own, like, garbanzo. It's garbanzo bean juice.
56:14
Kristen Ahlenius
Chickpeas.
56:15
Peter Dunn
Yeah, dame. I love that you said Aquafaba. It was so off brand.
56:21
Kristen Ahlenius
It was a so good I'm using that clip on Instagram.
56:25
Peter Dunn
It's like me square dancing. Yeah, it was great.
56:29
Damian Dunn
Anyway, egg prices are coming down. They hit a record high average of $5.46 per dozen in December.
56:38
Peter Dunn
I don't talk about Mrs. Planner a lot on this podcast, but this week she blew two dozen eggs. And so Ted has a class project in which they need full eggshells that have nothing in them. So there's this way you can poke two holes in an egg, a bigger one, a little one, and then you blow on the egg and it blows the yolk and everything out. So Ted was just going on and on about, mom, you got to blow two dozen eggs. And so I came home and there they are. Two dozen blown eggs.
57:08
Damian Dunn
What was Ted doing she had to.
57:11
Peter Dunn
Do when he was at Ted. Ted does not have the precision of one of the world's finest egg blowers like Mrs. Planner. But, yeah, to my surprise, that was the discourse when I got home.
57:24
Damian Dunn
Does she have to look this up on YouTube?
57:28
Peter Dunn
You look up everything on YouTube, did you not?
57:31
Damian Dunn
YouTube?
57:32
Peter Dunn
Aquafaba. No.
57:33
Damian Dunn
I have no idea what it is. I was hoping I was pronouncing it right. I thought maybe I wrong. And that's what you were laughing at?
57:40
Peter Dunn
Yeah. You know what I was thinking? All the stories this week were about how expensive egg prices were. And we bought $15 worth of blown eggs this week. Actually, they were unblown.
57:53
Damian Dunn
She'll do French toast or something.
57:55
Peter Dunn
You know what? I didn't have the heart to ask, what did we do with the egg?
57:59
Damian Dunn
Entered after she spent who knows how many hours.
58:03
Peter Dunn
I feel like that would pete, let's call her on the air. Actually, I did ask a question earlier, and I said, Why is a blouse called a blouse? And she sent me that Dave Chappelle clip from The Dave Chappelle Show that says game blouses. That's the gift. Anyway, Dan, what else is the news?
58:21
Damian Dunn
IBM was not the company to receive the most US patents last year for the first time since 1993.
58:28
Kristen Ahlenius
Wow.
58:29
Damian Dunn
Samsung was IBM came in at number two, but they were quick to explain that it was totally intended and they meant to drop off the top of the list for the first time in three decades.
58:41
Peter Dunn
It's like Peewee's Big Adventure, one of the greatest films ever. He falls off his bike and he pops up and he says, I meant to do that. Kristen that is your homework for the weekend. And to everyone else, I just simply send you good vibes because that is all that's in the budget. I'm Pete the Planner and this is the Aquafapa Experience. I can't believe you brought up Aquafaba. Like, dude, that is incredible. It's funny. I don't know. It's such an obscure thing.
59:11
Damian Dunn
Thank goodness one of my newsletters is written by millennials in a big city.
59:15
Peter Dunn
You got it. All right, dude. That's what we got. I got to go talk to the people trying to think, did I say anything in the show today? I don't get a regret, and then I go back to the egg blowing, and I'm thinking, that may not go well.
59:34
Damian Dunn
It's all right. It'll be totally overlooked. People have quit listening by that point. Most of the time.
59:40
Peter Dunn
Yeah, that's good news. Kristen, I did get several supporters of yours after last week's show sending me pictures of Xerox paper.
59:50
Damian Dunn
Oh, yeah.
59:51
Kristen Ahlenius
Xerox did make paper.
59:55
Damian Dunn
They didn't make the paper.
59:56
Kristen Ahlenius
Zero.
59:57
Peter Dunn
They did make the paper.
59:58
Kristen Ahlenius
They did someone else. They had their own milk, their brand.
01:00:04
Damian Dunn
They had their own wrapper. Somebody else made the paper.
01:00:07
Kristen Ahlenius
By that definition, no company makes anything their manufacturer does. Lululemon didn't make your ABC pants, then. Wow.
01:00:17
Peter Dunn
They are Aquafaba. They are Lululemon pants. Have Dame and I switched roles?
01:00:24
Damian Dunn
No.
01:00:27
Peter Dunn
Dame, what happened? You've spent way too much time with me.
01:00:30
Damian Dunn
I know. Like I told you, I made a very big tactical error when I tried on a pair. For some reason, I was bored.
01:00:37
Peter Dunn
They're amazing.
01:00:38
Damian Dunn
They're great.
01:00:40
Peter Dunn
All right, well, I got to go. I like you both. One of you more than the other. Kristen.
01:00:52
Kristen Ahlenius
Thanks, jail.
01:00:54
Peter Dunn
I'm just kidding. Dame, I love you, buddy. I'm sorry. I'm sorry about your Aquafaba and your Lululemon pants and your flaxseed and all the other things we got going on in your life.
01:01:03
Damian Dunn
I'm here for the show.
01:01:06
Peter Dunn
Okay. Have a good weekend. Everybody. Stay getting money.
