09:45
Peter Dunn
I'm just sitting on the plane. All I'm doing is sitting on the plane. And as you might know, I'm antisocial when it comes to flights. And I'm at Bush International Airport in Houston, about to take off back to Indianapolis, direct flight, and on the plane walks the pilot, who clearly was late to the flight, and the other pilot was in there, and this pilot was roughly 7ft tall. And of course, I'm thinking to myself, well, this is like from Airplane when Creem Abdul Jabbar was Roger. I think he was Roger in the film Airplane, which Kristen clearly hasn't seen. And I thought to myself, okay, how is a seven foot man going to fit into what I believe they now call the flight deck? I wanted to think of the more antiquated name for that area, but I don't believe I can say that on a podcast without a disclosure.
10:37
Peter Dunn
Anyway, so it occurs to me this seven foot person is crammed into the cockpit, and I'm thinking, this is good. This is a good safety thing here, because in the event that the wings fail, because Flip Plane could crash, it could die, and the podcast could end, we wouldn't make it past 6508. He has a big enough wingspan that we could just glide off his brother's arms into blue skies and pastures ahead. So that's the Pete the Planner show this week. Hello, everybody. Oh, we've got a new member of the show for this week only. It's a tryout. It probably does not go well for him. Ben, welcome to the show.
11:16
Ben Battaglia
Thank you for having me. Glad to be here.
11:18
Peter Dunn
Your second appearance, you were on earlier a few weeks ago, and we love to mock your bedazzled in ear monitors, which you've then returned to Amazon. And someone else is experiencing your ear germs at this very moment.
11:30
Ben Battaglia
It's true.
11:33
Peter Dunn
Excellent radio, Dame. I love this. This is so ben brings in, like, a high end mic this morning for this. He's like, no, I used to host a podcast.
11:45
Kristen Ahlenius
I love it.
11:46
Peter Dunn
Dame, how you doing?
11:49
Damian Dunn
Great.
11:55
Peter Dunn
Perfect. Dame, how was the car festival thing?
12:00
Damian Dunn
It was fantastic. It was probably the smoothest one we've had. Had more cars than we've ever experienced on Friday and Saturday. Great weather, lots of people. I don't think we could have asked for anything better.
12:12
Peter Dunn
Fantastic. Kristen, good Labor Day weekend. Any labor? Anything going on?
12:19
Kristen Ahlenius
I entered Full Grandma status and I relearned how to crochet, so I'm feeling pretty good about that.
12:27
Peter Dunn
And in pre show, you showed us a checkbook that's on your desk, which means you are full Grandma.
12:33
Kristen Ahlenius
Yes.
12:34
Peter Dunn
Do you have a rubbery coin purse that's got a buffalo nickel in it?
12:38
Kristen Ahlenius
No, but I should put that on the list.
12:40
Peter Dunn
Ben, how is it that the rubber full latex coin purse went out of fashion? Because I remember my grandparents having them and thinking they were literally the coolest coin holding device a person could have.
12:53
Ben Battaglia
Yeah. I mean, my daughters are bringing them back, too. I feel like they're going to make a resurgence here. My daughters love hoarding their cash in those rubber purses, like from the dollar section at Target.
13:03
Peter Dunn
Yeah. I'm thinking that's some new swag we could order here at YML for sure. Enough of our Tom foolery. We've got an amazing show today. And we also have big Rick Swink weighing in. Good morning, Rick. Danza. Hello to you, Andy. Hello and hello. Now I'm on my game. Thanks, Ben. So today's show is going to be interesting. It is fantasy football season. As of now, we are in the midst of fantasy football season. And Kristen, was this your idea? Yes. Okay. Kristen said, what if we did a personal finance fantasy draft where there are different categories and we all, the four of us, select personal finance teams, whereas there's some categories investing, debt management, emergency fund, daily money management, and investing for strategy wise metrics, Social Security. And we draft different techniques within each of those and then we argue with each other about how wrong we are.
14:08
Peter Dunn
So we're also going to do a visual for this particular episode. And if I think of it, when I post the podcast, I will actually also post an image so you can go to Peteeplanner.com podcast and find the episode and then follow along. But that being said, that will increase the amount of time I spend on post production from two minutes to two minutes and 22 seconds, and I'm not sure I'm willing to invest that in your understanding of what in the heck it is we're doing. Damon, does this seem fair? I feel like I'm being quite congenial.
14:48
Damian Dunn
Feel like you just shot down the hopes and dreams of every listener when you said they're not worth an extra 22 seconds of your time.
14:55
Peter Dunn
Sorry, Jeremiah. Kristen, I did get a text from Aqua this week that said he felt seen and heard when you criticized my vocabulary and he, too, finds it difficult. And then his name was spoken at that very moment. So Aqua says was I'm glad that.
15:17
Kristen Ahlenius
I'm not alone in feeling. I think it's maybe just a generational thing. I'm not, like, call you out, but maybe it's a generational thing.
15:26
Peter Dunn
Boy ben. But, see, Ben's an older soul than both Dame and I, and he's, I don't know, 15 years. Are you ten? No one knows how old Ben is.
15:35
Ben Battaglia
Am I an older soul? I'm not sure. I just want the record to show also before we dive in, that I was brought here as a lamb slaughter. I think everyone should be aware of that. I'm not an award winning financial mind like the three of these people. And I was brought here to embarrass, basically.
15:56
Peter Dunn
Right, kristen, that was the no, that's not true.
16:03
Kristen Ahlenius
It wasn't to embarrass Ben. It was to allow other people to think that it wouldn't be weird if they didn't put as much thought into something like this as the three of us would, because we're personal finance experts. Ben is very intelligent. That's how I kicked the whole thing off earlier today. It's just no one expects Ben to know about personal finances. He's in marketing.
16:25
Peter Dunn
Why did you say very intelligent and did air quotes when you did it?
16:29
Kristen Ahlenius
I did not.
16:32
Peter Dunn
Buenos Diaz. Rochelle. That is Spanish for Ben's going to embarrass himself. All right.
16:42
Kristen Ahlenius
I'm sorry, Ben.
16:44
Ben Battaglia
It's going to be great. I'm excited about it.
16:48
Peter Dunn
I was in Houston this week, and I had the most interesting Uber ride of my life from Houston Airport to my hotel. I don't want to go too much into it, but I will say we did drive by a Cadillac Escalade on fire, fully engulfed on the side of the road, about 20ft away. And as we're driving by, the tires stop popping, start popping. The fire truck pulls up. It was intense. Then I get out of the Uber at my hotel, and it was about 180 degrees in Houston. So this person, what some call a temple, was not built for Houston, Texas.
17:31
Kristen Ahlenius
Who are these people?
17:32
Peter Dunn
Who are what people?
17:34
Damian Dunn
They call it a temple.
17:35
Peter Dunn
Oh, calm down. Happy Friday. Caitlin Elenius kristen's number two fan. What?
17:46
Damian Dunn
Who's number one?
17:48
Peter Dunn
Ben is. All right. I love that we add one more person, and the idea that there's now more silence on the show isn't that weird. It's not Ben's fault, but it's the dynamics of having four voices is everyone doesn't want to step on each other.
18:02
Damian Dunn
You're right.
18:03
Kristen Ahlenius
Yeah. But that happened when the three of us first recorded our first show together. There was quite a bit of dead air the first time we recorded together.
18:12
Ben Battaglia
You can just count on me to be quiet back here and wait to be slaughtered. I'm just in the waiting room right now.
18:19
Peter Dunn
I think the funniest part is we explained the concept. Kristen sent, like, a sheet. That how we're going to do this. And then as we're introing the show, we forced Ben to create a slide that we're going to share on screen here. So as we're saying hello to him and he gives us a hi, he's actually doing work. And so it was lovely.
18:39
Damian Dunn
How many picks in does Ben just give?
18:45
Peter Dunn
So let me actually share the screen here now, and then we'll get ready for this because we're going to have to sort of do this on the fly.
18:53
Kristen Ahlenius
Are we going to let Ben pick first?
18:56
Damian Dunn
No, I'm comfortable doing that.
19:00
Peter Dunn
Can people see this?
19:02
Kristen Ahlenius
Yes.
19:03
Peter Dunn
Yeah. It's a generational thing because I can't ben has a way like, Ben and I spend a tremendous amount of time together working, and he loves to use the fonts that don't work from a size perspective for me, and then guffaw when I can't read it. That's the sort of person he is.
19:24
Ben Battaglia
I do what I can for you.
19:26
Peter Dunn
All right, so here we go. I'm going to have to start the show. Kristen, do you want to explain the radio show? Do you want to explain how we're doing this or do you want me to butcher it? What do you want to do?
19:37
Kristen Ahlenius
Oh, I feel like that'll be more fun if you butcher it.
19:40
Peter Dunn
Yeah. Be selecting who goes first. I think we should take care of that now.
19:44
Kristen Ahlenius
Oh, I didn't think about that.
19:47
Peter Dunn
Chris?
19:47
Damian Dunn
Yes. First, Ben can go.
19:49
Peter Dunn
Okay. Ben goes first. I think it's funny that Chris just noted on Facebook Live that Ben is still in the green room because he's in our green conference room and it is a green room.
19:58
Kristen Ahlenius
For simplicity's sake. Should you just go first, Pete? Because if we're going to snake draft, then we just would go Pete, Dane, me, Ben, and then back.
20:06
Peter Dunn
OK. Oh, this isn't fair. Now you've got people on your team defending. I don't I don't want this. Candice, come on. That's not right. Candice, I so appreciate Candice on the show delight. Candace would have been a far superior guest fan favorite. Candice here in the office.
20:22
Ben Battaglia
True.
20:23
Peter Dunn
All right, here we go. What are we going to do?
20:27
Damian Dunn
Do you want to tell Ben the times of the segments or just yeah, we do that.
20:31
Peter Dunn
Don't mess this up. Ben, write this down. Are you ready?
20:33
Ben Battaglia
Yes.
20:34
Peter Dunn
So you actually need to run your iPhone timer when I start each segment. Nine minutes and 22 seconds is the first segment. Nine minutes and 23 seconds is the second segment. Nine minutes and 40 seconds is the third segment.
20:45
Damian Dunn
And dame nobody knows of the last one. It's just more 940.
20:49
Peter Dunn
It's also 940. I know. I didn't you didn't know that. I knew.
20:54
Damian Dunn
The last two are the same.
20:56
Kristen Ahlenius
I know. Very approximately.
20:58
Peter Dunn
So if you've ever wondered, I probably will get in trouble for this. If you've ever wondered how much radio you actually listen to in an hour, add those times together and you will find out exactly how much commercial play is in 1 hour. But that pays for my hair plugs, so let's not judge. I still feel like I'm going to get in trouble for that. Okay.
21:22
Damian Dunn
It's on a podcast. He'll never know.
21:25
Peter Dunn
So I've done radio for a long time and one of my first weeks ever was 2009, 2000, something like that. I had a producer, actually was the general manager of what was his title? I should know this anyway with my boss named Scott Roddy. Really great voice. And he pulled me in and I'm just being my general self in 2009, which was probably me cranked up by about five and I have no idea what I'm doing. I've never actually broadcast and he was like, because he's using a voice, you.
22:02
Ben Battaglia
Know.
22:05
Peter Dunn
You'Re doing a little too much inside baseball on air. And I was like, oh. He's like, don't talk about the process of radio. Just do radio. People don't want to hear how radio works. And those are our secrets of the dynamics of radio. So just do radio. And now I have a top 1% podcast that literally is how the sausage is made. That's sort of funny. No.
22:34
Damian Dunn
Take that roddy.
22:36
Peter Dunn
Records Rottie was his on air name. Records Rottie.
22:40
Damian Dunn
Do you think there's a big crossover between former radio personalities and air traffic controllers just because of the voice?
22:47
Peter Dunn
That's a good question. I got caught up in ATC TikTok once. And you just listen to controversial air traffic controllers talking to pilots when there's incidents and stuff. It's not really TikTok. It's YouTube. Fascinating. Fascinating. Ben, what's the weirdest that you can talk about on air? YouTube rabbit hole that you've gone down?
23:11
Ben Battaglia
I mean, just yesterday, someone on our team shared video about sports. We like two rather nerdy guys joking about how they like sports. And so I definitely started diving down.
23:25
Peter Dunn
Into some nerdiness there dame weirdest YouTube rabbit hole.
23:31
Damian Dunn
I don't know what the professional name is for this occupation, but it's somebody who takes care of, like, cows hooves.
23:39
Peter Dunn
Oh, that grosses me out, man.
23:41
Damian Dunn
Yeah.
23:43
Peter Dunn
Kristen weirdest YouTube rabbit hole.
23:46
Kristen Ahlenius
I don't watch YouTube.
23:48
Peter Dunn
You're the one I like so much. You're the absolute worst.
23:53
Damian Dunn
Thanks for adding to the content of the show, Kristen. Yeah, I don't participate.
23:58
Kristen Ahlenius
You can always count on me to.
23:59
Ben Battaglia
Bring OOH, I have one pimple poppers.
24:02
Peter Dunn
That's it.
24:04
Ben Battaglia
And you're like these ridiculously abnormally large abscesses that they're like, stop.
24:10
Peter Dunn
I'm going to have to put a warning on this show. My favorite is Indian head massages. You're walking down the streets of India, you go into this booth, this guy pours this spiced oil all over your head and for 40 minutes rubs your head. And that's my favorite thing to watch.
24:29
Damian Dunn
And you just watch somebody have their head rubbed.
24:33
Peter Dunn
Yeah, I do. It's very strange, but don't knock it until you try it.
24:41
Damian Dunn
Watching or doing?
24:42
Peter Dunn
I don't know. I might have to get a spiced oil.
24:45
Damian Dunn
Indian head rub reunion. That's what we're doing for one of the activities.
24:50
Peter Dunn
I know. Okay, I think we have a listener left. Let's start the show. Okay. Man, explaining. This is going to be interesting. But you know what? That's why I went to a liberal arts school. Let's go in three, two, one. This week on The Pete the Planner Show, we answer your money questions. Here's how the show works. You email us. Askpeat@peteeplanner.com that's askpete@peteepeplanner.com. And here's what will happen if we've got another segment idea. Your email will get punted at least a week, and then we'll read it on a future show. Very special episode of the Pete the Planner show. Today welcoming back my normal co host, Damien Dunn. Hello.
25:35
Damian Dunn
Hello, Pete.
25:36
Peter Dunn
Kristen, Alanius. Hello.
25:38
Kristen Ahlenius
Hello.
25:39
Peter Dunn
And a special guest on the show this entire episode, I think, unless we kick him off in the fourth for no good reason. Ben Bataglia, also from your moneyline. Hello, Ben.
25:50
Ben Battaglia
Hello. Glad to be here. Thanks for having me.
25:53
Peter Dunn
All right. Okay, so here's what we're doing on the show. We are doing the personal finance fantasy draft. So it is fantasy draft time. People gather around with their friends, eat jalapeno poppers and drink Michelo Boltra, and they select groups of men to play against each other on Sunday. And then we add up points and feel like we have some ownership over these people's own professional accomplishments. And so in a personal finance sense, what Kristen has done is she's put together a game and we are going to draft strategies in eight areas, maybe nine areas of a person's personal finances. So here are the categories. There are strategies as well. If you're struggling to follow along, it's okay. You can go to youtube.com, peteeplanner, and the visuals for this will be there. You can also find visuals at peteeplanner gov. Here are the categories of the strategies we will select from in this draft.
26:53
Peter Dunn
Investing for retirement, debt management, emergency fund, daily money management, general investing strategy metrics, Social Security, transportation and healthcare. All right. So what we have to do, all of us is in each of those categories, we have to draft a strategy and at the end of the show, we will say who has the overall best financial strategy based on their draft. Kristen, will you be keeping track of the picks here?
27:25
Kristen Ahlenius
I don't have access to the slides, so I don't know how I would be keeping track of the oh, man.
27:30
Peter Dunn
This is going to be awkward. All right, since you're keeping track of this. So I have the first round pick. I know my categories and I am going to choose in terms of retirement investing. I don't have to choose that cordy, but it's where I'm selecting. First round pick is a pension. I'm choosing a pension as my number one financial strategy given that only about 10% of the population in the private sector has a pension. So that is off the board. No one else can select it. Dame, you have the next pick in the first round.
28:04
Damian Dunn
Well, you've already taken my one a pick that was also my first round first pick because that sets up so many other things for success. I am also going to boy blows up the rest of my strategy. You know what? I'm going to go emergency fund, six months of cash. Emergency fund, six months of cash for my number one draft pick.
28:28
Peter Dunn
Kristen, that's a solid pick there.
28:31
Kristen Ahlenius
Is it?
28:33
Peter Dunn
Here's the thing, Kristen, you created a game, so you've spent hours trying to figure out how you're going to do this. So what is your first pick so we can all make fun of you?
28:42
Kristen Ahlenius
So as far as investing strategy, I would like to choose 100%. Equities.
28:50
Peter Dunn
Wow. That's a bold move, cotton. All right, so investing strategy, 100% equities. Where I don't see on the thing that Ben created. I don't see it on there. It's not hit Escape. So Ben's not even messing up the segment, he's actually messing up.
29:12
Kristen Ahlenius
There it is.
29:14
Peter Dunn
All right, we're back. Okay, now we've got Ben, your next pick.
29:22
Ben Battaglia
This is a lot to ask of me as a non financial mind. I'm overwhelmed, which is how most people feel about their money. And I am going to go with a 60 40 investing strategy.
29:37
Peter Dunn
Terrible pick. Well, I mean, Benson is younger. Thirty s, and his first round pick is a balanced portfolio for a retiree. So whatever.
29:50
Damian Dunn
All right, what was his other choice, though?
29:54
Peter Dunn
What do you mean what was his other choice?
29:55
Damian Dunn
100% bonds or money market? He had to pick something. You and I'm in trouble because you've got a pension and now I have to choose 100% bonds or money market.
30:04
Peter Dunn
Good point. That was actually strategically well done, Ben. It's a snake draft. So you get the first 2nd round.
30:12
Ben Battaglia
Choose the I'm going to choose debt management, the highest interest rate method.
30:20
Peter Dunn
Okay, man, he passed on momentum method, shotgun method, and then minimums until lump sums present themselves. He passed on those for the highest interest rate method. So now, Kristen, it's back to you.
30:34
Kristen Ahlenius
I think I'm going to go with a retirement investment strategy. I think I'm going to choose the Sep IRA.
30:46
Peter Dunn
Sep IRA, that's a wonderful choice for you, dame, what are you thinking here? What are you thinking?
30:55
Damian Dunn
I have to take 100% bonds for investing strategy before I get stuck with money market. So investing strategy, 100% bonds because I'm in trouble in that area. So already my draft is not looking so hot.
31:12
Peter Dunn
Here's the funny thing, Dame. Currently he has six months of cash and he's got a money market retirement strategy. So he'll be fine. Inflation won't affect him at all, guys. He'll be completely fine. Kristen, this is either the best segment show we've ever done or possibly the worst because of the lack of visual for the radio audience. But so far I'm loving it. It makes a great television segment. All right? It is to me. And we are going I'm going to draft from the metrics category and I'm going to choose power percentage. I'm going to choose power percentage. And I passed on net worth, passed on debt to income ratio, and passed on real rate of return. All right, well, it's my pick again as the nature of snake draft, which is why this is so fantastic. I will take debt management, momentum method. Oh, no.
32:09
Peter Dunn
I'm dominating the personal finance draft here today. All right, so if you just joined us here on the radio, let me tell you what we're doing. We're doing a personal finance fantasy draft where we chose nine categories of personal finance retirement, investing, debt management, emergency fund, daily money management, general investing, strategy metrics, Social Security, transportation and healthcare. And what we're doing is each of us has to select one of four strategies within each of those categories to build this financial life for ourselves. So for the rest of the show, here's what we're going to do. We're going to continue to draft. Okay. We're going to continue to draft, and then at the end, we're all going to have these financial lives we've created with this fantasy draft, and we're going to compare and see all right. Which would actually lead to the best financial outcome that will likely be segment three of the show.
33:04
Peter Dunn
Don't fast forward. Don't fast forward. There's no need. And by the way, if you have a radio, that feature is not available. All right, so where are we? Damer wheat to you.
33:14
Damian Dunn
Back to me. My first round pick, for those of you that are just catching up, was six months cash for an emergency fund. My second round pick was just an absolute panic move. 100% bond investing strategy. I'm going to go with 401K for retirement investing at this point.
33:38
Peter Dunn
That leaves Ben with Roth IRA. Leaves Ben with Roth IRA. Oh, Ben's in trouble. This is great. Kristen, last pick until the break. What is your pick for this third round?
33:54
Kristen Ahlenius
I would like to choose healthcare. And I would like to choose a please.
34:00
Peter Dunn
Oh, PPO. For Kristen and Healthcare, the other strategies that she could have chosen from an HMO catastrophic or Hope and a Prayer. Hope and a prayer. So let's do this. Let's take a break. Everyone collect themselves, and we will come back. It will continue our personal finance fantasy draft. Easy for you to say. And then we will ridicule each other to see who has the best financial life and who doesn't. That's all right here on the Pete the Planner show. Well, I'm Pete, the planner. See, Ben, that's nine minutes and 22 seconds. That's how that works.
34:36
Ben Battaglia
Well done. That was impressive.
34:39
Peter Dunn
Oh, Rochelle with the major flex in Facebook Live, not the brag double pension household. Yeah. Wow. I can't even imagine that.
34:49
Ben Battaglia
Honestly, my next draft was a feeling. Very bitter about it.
34:55
Kristen Ahlenius
Oh, no.
35:00
Peter Dunn
Here's the thing. I can't tell I'm loving this segment, but I can't tell whether it works or doesn't work. You know what saying? Like, will this work on the radio?
35:08
Kristen Ahlenius
Well, that was what I told Dame yesterday. I was getting cold feet about it because of radio, and well, I mean, we did.
35:21
Peter Dunn
Don'T dame, you likely know this. Kristen might dame or Ben definitely doesn't. I had a television pilot that I shot once. Okay, Ben, do you know of this?
35:32
Ben Battaglia
I do not.
35:34
Peter Dunn
I was going to have an actual broadcast television show, needless to say, didn't get picked up, but this would have been amazing on that do I like, I don't have a lot of regrets, and I actually don't have regret around that. I do have a level of disappointment because it was like I'm telling you, it would have worked. The show would have worked. In fact, actually, I screen tested for a money makeover show on, like, a cable network, and I didn't get that. But then this other one was just basically the television Pete the Planner show, where I do what we do here on television, and that pilot didn't get picked up either. But I'm telling you, it would have worked.
36:15
Damian Dunn
And you had segments on some national morning shows that were I mean, this is all happening. Like, right when I joined the Pete the Planner empire, I remember hearing all the, hey, this is potentially in the cards. And then none of it came to fruition, and I thought, man, who did I hook myself up?
36:31
Peter Dunn
Yeah. Yeah, exactly. I will say this. The Good Morning America segments were fun. I sort of traveled around the country and kicked adult children out of their parents'houses. That was fun. Yeah. But I did it with kindness.
36:46
Kristen Ahlenius
Yeah.
36:48
Peter Dunn
I was just ahead of my time. But I also, to be fair, Kristen and I've talked about this. The need for me to pursue individual media stuff sort of went away.
36:59
Kristen Ahlenius
That's fair.
37:01
Damian Dunn
Maybe, Pete, you could still self produce a show of you kicking adult children out of houses. I'm 100% sure there's a market for that on YouTube, probably.
37:12
Peter Dunn
All right.
37:13
Kristen Ahlenius
Is our chart up to date here? Yeah, were going a little quick for you, Ben. I apologize.
37:18
Ben Battaglia
Yeah. Not only do I have to play in a world that I have nothing about, but I have to live track it all.
37:25
Peter Dunn
You know, I think the irony of this whole thing and our listeners don't yet know Ben John Benjamin Bataglia, but Ben is literally one of the smartest people you will ever meet in your entire life, and we are bringing him into a world of kryptonite, and it's love. I love how uncomfortable you are right now. You know what? I'll tell you, Bent, this is payback for the last two weeks of you openly reading lines from my first book in the office and on team meetings, of which I say really stupid things. This is payback.
38:01
Damian Dunn
My know, that would have been an interesting category if we would have had the Planner quotes and we all had to pick one that we lived by for the rest of our lives.
38:11
Peter Dunn
They are the most cringe worthy. They're cringe. I'm not even playing when I get mad at Ben at reading those, because they are awful. Ben, don't read one right now, or I would literally kick you off the show.
38:24
Ben Battaglia
I will not. But just for the record, we have team Shoutouts every week, and I've made it my mission to work one Pizza Planner quote from 20 years ago into every shout out once a week. So I'm committed at this point.
38:39
Peter Dunn
Awful.
38:40
Damian Dunn
Have you Googled some of his press photos from the beginning of his career?
38:44
Ben Battaglia
Wow. Bringing photography into this. That's another level than the written word.
38:48
Damian Dunn
Guys, this is a podcast for your team meetings. Just to be able to put them as inspirational backgrounds over the quotes, over the inspirational backgrounds. I think I can help you out there.
38:59
Peter Dunn
This sounds aggressive, and if there's kids listening with their parents right now, I do want to just maybe plug their ears or ask them to leave the room for a second. I'll give you a moment here. Okay. I feel like I'm in the clear. I hate you guys. Okay, bring the kids back. Bring the kids back. We don't say the H word in our house. H word in our house.
39:24
Ben Battaglia
Okay, Pete, I have an insight. You drafted metrics and both a metrics and a method before drafting actual.
39:39
Damian Dunn
Stuff.
39:39
Ben Battaglia
Finance. Yeah. Actual money in your bank account. I'm fascinated by your belief in the power of metrics and methods to help.
39:49
Peter Dunn
I've picked strategies. I've picked strategies.
39:53
Kristen Ahlenius
He picked his own stuff.
39:55
Ben Battaglia
I did think that anything trademarked by you has been selected in this draft by you.
40:02
Peter Dunn
Hey, my patent attorney is excited. All right, let's keep going.
40:09
Kristen Ahlenius
Okay.
40:15
Peter Dunn
In three, two, one. Back on the Pizza Planner show, it's the personal finance fantasy draft. If you missed the first segment, just turn on easy listening, maybe just turn the channel, because it's a little confusing. Here's what we're doing. We've taken nine categories of personal finance that you and I, as individuals have to keep an eye on investing strategy, general metrics, Social Security, things like that. And then in each of those categories, there are four distinct strategies, and there are four people co hosting the show today. So that is to say, we're putting together this financial life fantasy style. And at the end, third segment, next segment, we're going to see whose financial life is the best based on this fantasy personal finance team they have drafted. Kristen, did I explain that well or no?
41:05
Kristen Ahlenius
You did explain it really well. And I just want everyone who's listening to know that Damien is very focused right now on his next pick. He is petrified that his team's going to be worse than.
41:16
Peter Dunn
Dame. Go ahead, Ben.
41:19
Ben Battaglia
I'm up with a double pick. Now, I just want everyone to be clear, but I am next with two.
41:23
Peter Dunn
Picks in a row that I picks in a row.
41:27
Ben Battaglia
I am going to draft an HMO in my healthcare. I have four children, and I would prefer an HMO to catastrophic or a hope and a prayer. So I will take an HMO, please.
41:37
Peter Dunn
Okay. And then you get another pick.
41:40
Ben Battaglia
With my second draft pick, I will pick a one I'm between $1,000 cash and a cash purchase of a car, and I am going to pick $1,000 cash in my emergency fund.
41:56
Peter Dunn
Okay. I feel like this is going to go poor for me. All right, Kristen, you're up. This is not good. I feel like I'm in trouble.
42:08
Kristen Ahlenius
I'm definitely in trouble because there are a few that the only options left are so bad that I'm to the point where I kind of feel like I have to avoid them. And so I'm going to go for a daily money management technique, and I would like to use the lazy man's budget, please.
42:28
Peter Dunn
I'd like to be more inclusive and call that the lazy person's budget. Fair enough. Although men are typically lazy, it actually is. All right, Dame, by the way, Kristen, you passed on cash and carry envelope method balance spending, which is when you just look at your bank balance and then make a decision to spend and then a hope and a prayer, aka no budget whatsoever. You passed on those. All right, dame, you're up.
42:52
Damian Dunn
I'm being pushed and forced into this pick a little earlier than I wanted to, but I don't have much of a choice. I got to take what's left. I'm going with catastrophic health care just to make sure my family has some protection, which is better than what is left. And now falls to Pete. It does take that off the board because he's stuck with it. He doesn't have to pick it. So he can go aggressive on something else at this point.
43:19
Peter Dunn
All right, so I'm going to go I'm going cash and carry envelope method. I'm going the Dave Ramsey method of budgeting. I think the world just dumped upside down. Oh, my gosh. These are the perverse incentives you get on this show is that Kristen just made me select the Dave Ramsey carry cash around an envelope system for managing my really? I think the show just jumped the shark. And then I'm going to go I'm going emergency fund method line of credit because six months cash was gone. $1,000 cash is gone. Right. And then I didn't want to choose 401K loan because then the entire bizarro world would be activated. All right, so, Dame, back to you.
44:19
Damian Dunn
I'm picking a fresh category. I'm going Social Security, full retirement age 67.
44:25
Peter Dunn
What a boomer choice that was. Who put 72 here?
44:31
Damian Dunn
That's an ingenious twist.
44:33
Kristen Ahlenius
It is an ingenious twist. Okay, so I'm up and I still need a metric to live my life by, ideally. But transportation, I feel like potentially is an underrated category here, and I would like to choose cash purchase for transportation. Sorry, Ben.
44:57
Peter Dunn
All right, so if you're just joining us on the show, especially on the radio show, because there's various ways that you can consume whatever this is, we are doing a personal finance fantasy draft. There are nine categories of personal finances, and each of the four people hosting the show today have to select one of four strategies in those categories. And at the end, we're going to tell you the characteristics of the financial life it created and then argue whose financial life is better or worse. And while we brought Ben on the show today to be the everyman, the novice, the dimwit, if you will. I'm starting to feel okie doked into the fact that I may have the worst financial life here based on our draft. Okay, who is up? What's going on?
45:43
Ben Battaglia
It's me with another double pick for a snake draft. Am I allowed to ask for a consultation here? You all said age 72. Social Security is some sort of trick question, and I have no idea what sort of trick that is. Can I?
45:55
Peter Dunn
Well, I would be yes, you can. You have to ask Kristen because she's the one that came up with this.
46:01
Kristen Ahlenius
I put that in there because it seems like it would be something that would not be advantageous. But in Dame, I think we like to view Social Security as more of insurance, and we think delaying that benefit is actually really advantageous for most people. So while it sounds like it's worse, like you have to work until you're 72, it's a strategy that we are actually really in favor of.
46:21
Damian Dunn
Well, here's the thing. You don't have to work until you're 72. You can retire whenever you want and live off the investments, but your Social Security benefit stops compounding stops growing at age 70. So you're needlessly delaying your Social Security benefit for two years, just doing without it for two years.
46:37
Peter Dunn
That's confusing to me.
46:39
Damian Dunn
I see that's fair because you're getting a much higher benefit, but you are willingly going without for two years with.
46:47
Peter Dunn
No additional benefit at all.
46:50
Kristen Ahlenius
I mean, some of these aren't great picks, you guys. That's the nature of the game.
46:53
Peter Dunn
Speaking of not great picks, ben, you're up.
46:55
Ben Battaglia
I'm going to go age 65, Social Security.
46:58
Kristen Ahlenius
Oh, no.
47:00
Peter Dunn
All right. And then you have a double pick. So what's your second pick?
47:02
Ben Battaglia
I do have a double pick. 36 month loan transfer.
47:05
Peter Dunn
Oh, man. Okay, so you just said no cash purchase of a car was already picked. You chose 36 month loan, and the other two choices are 84 month loan and ride share, which include Uber line bike and Scooter. So for that matter all right, Chris, you're up.
47:24
Kristen Ahlenius
I'm going to choose a metric to live my life by, please. And I would like to choose net worth only because power percentage has already been taken and I do not want to use real rate of return as the metric to live my life by.
47:38
Peter Dunn
Yeah, it's tough when the best personal finance metric ever created was off the board so early. Power percent created by let me go to the Wikipedia page. Peter Dunn. Okay. Damon, you're up.
47:52
Damian Dunn
I am going to also take transportation. I'm going to go with rideshare because I'm going to move to Mackinac Island, and I'm not going to need a vehicle.
48:01
Peter Dunn
I have got a terrible situation here. Your financial life is not this is I don't like this new segment. Let's go to user listener questions now. Dear Pete. Okay, Halitosis. Okay, I don't know where that came from. I'm up. I am going investing strategy. I have no choice there. Social Security, I have no choice. There transportation, I have no choice. There healthcare, I have no choice there. I am in a corner, y'all. I'm going to go with money market as my investing strategy. All right, though.
48:45
Damian Dunn
Claim it, name it and claim it.
48:46
Peter Dunn
Pete, why didn't you put cash in a chock full of nuts, coffee can, and buried in your backyard? I could have gone with that. Then. Since I have a double pick, I'm going with my healthcare strategy, which is called Hope and a prayer. Hope and a prayer. All right, so quickly, Damon, Kristen, if you can pick with the 30 seconds we got left, that would be great.
49:07
Damian Dunn
I will take metrics. I don't know which one Kristen picked, but I'll take one of the two that's left. I don't know. It's not important.
49:16
Kristen Ahlenius
Social Security, age 72, please.
49:19
Peter Dunn
All right, Ben, are you tracking these?
49:21
Ben Battaglia
I got it.
49:22
Damian Dunn
I'll take debt to income ratio for mine.
49:25
Peter Dunn
All right, here's what we're going to do. We're going to take a break. We're going to come back, recap, finish the picks, and then we're going to go through our financial lives and see who has the best one. This is the personal finance fantasy draft here on the Pete the Planner show. I'm Pete the planner. We'll see you in just a bit.
49:44
Ben Battaglia
Kristen, did you pick 62 or 72?
49:46
Kristen Ahlenius
I picked 72, please. Thank you. Do we want to just finish out the last round since it's basically nothing and not take radio time? That way the third segment can be.
49:57
Peter Dunn
Like, yeah, let's do okay, so Ben's got two picks.
50:04
Ben Battaglia
I, wow, I really thought I had more time. I am going to go with.
50:15
Peter Dunn
I'll edit out this part where.
50:21
Ben Battaglia
I'm going balance spending, and then I have to go with Roth IRA.
50:26
Kristen Ahlenius
Man all right. Okay, Chris. So I need either a debt management technique or an emergency fund. My emergency fund is a 401K loan, so that's horrendous for me. A debt management strategy. Shotgun method is left, right? No one. Dame didn't pick that.
50:44
Peter Dunn
Both yeah. Whatever you want.
50:45
Kristen Ahlenius
So I'm going to take the shotgun method.
50:47
Peter Dunn
All right, dame, take your two.
50:51
Damian Dunn
That leaves hope and a prayer for daily money management for me and Ben. There's some other singles that are left on there that you can fill in, like metrics for yourself and investing for retirement for yourself, you can fill in as well.
51:06
Peter Dunn
Now even the podcast, just switch over to Joe Rogan.
51:09
Kristen Ahlenius
I know.
51:10
Ben Battaglia
Who's 84 months alone, me.
51:13
Peter Dunn
For transportation and Social Security. I've got age 62.
51:16
Damian Dunn
Pete has 62 for it. Yeah.
51:18
Peter Dunn
Okay. All right. So, Ben, you finished that up. It's pretty self explanatory.
51:22
Kristen Ahlenius
Poor Ben.
51:23
Peter Dunn
You're fine.
51:24
Damian Dunn
Jamie finished that up.
51:29
Kristen Ahlenius
Jamie, pull that up.
51:31
Peter Dunn
I don't know if that's a reference to Joe Rogan.
51:35
Damian Dunn
Joe Rogan, he's always talking to his producer, always like, Jamie, pull that up. Jamie, do this. Jamie, do that.
51:40
Kristen Ahlenius
Jamie, do we have that?
51:41
Peter Dunn
Never listened to the Joe Rogan podcast. Actually, I have one episode. Who did I listen to? Who did I listen to? It was like a three hour interview. But are they all interviews?
51:53
Damian Dunn
They're all multiple hours.
51:54
Peter Dunn
Who has time for okay, let's go back and we're going to read people's financial lives on the air. We're going to start with the guest. Ben, actually, we're going to go Dame, Kristen, Ben, then me. Dame kristen Ben, then me. Okay, and here we go. In three, two, one. Back on the Pete the Planner show. It's the personal finance fantasy draft. We drafted different strategies within nine different categories of our financial lives, and now we have complete financial lives. We are these entities that choose these strategies in these various categories, and we're going to tell you what it looks like. So here's the order. We will go. Dame will go first. He will tell us in each of the categories what are the strategies he's employing. Then Kristen will give hers. Guest host Ben will give his. And finally, I will take the last shred of credibility that I had left away and I will read mine.
52:54
Peter Dunn
So, Dame, we're cramming all four of these reads into this. So where are you from a strategy standpoint?
53:02
Damian Dunn
All right, for my investing opportunity for retirement, I've got a 401K debt management approach. I'm rolling with the minimums until a lump sum presents itself that I can put towards those balances. Emergency fund, six months of cash. That is incredibly conservative and the best pick on the board. Daily money management. Hope and prayer. Hope and prayer. It's going to work just fine.
53:24
Peter Dunn
You know, it's one of the most popular methods out there.
53:26
Damian Dunn
Yeah, and the masses can't be wrong. Investing strategy, pretty conservative, guy. I'm going 100% bonds, but I can choose different levels of risk in there as well. Metrics, debt to income ratio. It's a horrible pick, I got to be honest with you. Social Security, full retirement age 67. Solid, goes right along. And transportation, ride share because I won't need a car in retirement. And health care, catastrophic because it's better than a hope and a prayer.
53:54
Peter Dunn
You know what dame? That's not bad. There's ebbs and flows. But I'll tell your strongest things you got going are the months of cash, full retirement age, and I would argue rideshare, especially in the line of scooters, might be the best pick on the board.
54:12
Damian Dunn
I think I've picked something that's actually kind of reflective of who I am. Pretty conservative, obviously way more conservative than I would intend to be or am, but I don't think this is too unbelievable for me.
54:26
Peter Dunn
Kristen, you're up.
54:28
Kristen Ahlenius
So for my retirement investing strategy, I chose the Sep IRA because the contribution limits are much more generous than the.
54:35
Peter Dunn
Other options sneaky good pick.
54:37
Kristen Ahlenius
Sneaky good pick it was and I felt bad for Ben on that one. So debt management. I chose the shotgun method, which is this idea of you kind of just round up balances or round up your minimum payments and pay extra on a lot of different balances. It's not a bad strategy but it's not the most strategic method I could have chosen. My emergency fund however, is a 401 loan, despite the fact that I didn't choose that, which is a little ironic. Daily money management, the lazy man's budget, the best one out there. Investing strategy 100% equities. We know that's who I am as a person as well. My metric is going to be net worth and then Social Security age 72, which is kind of a good but a sneaky bad pick at the same time. Transportation, cash purchase, which we're all pretty big advocates of here.
55:26
Kristen Ahlenius
And then healthcare is a PPO.
55:30
Peter Dunn
That's solid, Kristen.
55:32
Kristen Ahlenius
It is.
55:33
Peter Dunn
I'm trying to look here, what's the worst thing you got and 401K loan emergency fund is the worst thing you have, but everything else is pretty good. Ben.
55:42
Ben Battaglia
Here I go.
55:43
Peter Dunn
How's it look?
55:44
Ben Battaglia
Investing strategy by default I was robbed of the prior three, but Roth IRA is my strategy.
55:50
Peter Dunn
Sure, that'll be great. Nice modest retirement starting never. That'd be great.
55:56
Ben Battaglia
Debt management, highest interest rate method, which I feel decent about as an option, $1,000 cash for my emergency fund. That felt better than the alternative. So I snagged it while I could balance spending for daily management. Investing strategy 60 40 which again wanted something that wasn't wildly unaggressive.
56:18
Peter Dunn
But dame on this one here for a second. You've been keeping track of the history of the 60 40 portfolio for a number of years now. It's not that far off. 100% portfolio. No, I know I was mocking it.
56:31
Damian Dunn
Earlier, but if you had an adverse risk tolerance, a 60 40 portfolio would still serve you very well.
56:38
Ben Battaglia
Good to know. I'll take that to the bank metrics. Real rate of return Social Security age 65. Took that despite age 72 being sneaky, it was just too much for me to tackle. So 65 transportation, 36 months loan. I really wanted that cash purchase but Kristen snuck it out right before my draft pick and then HMO have a bunch of kids. So didn't want to be stuck with catastrophic or hope and a prayer.
57:07
Peter Dunn
All right, now I'm going to give you my financial life that I've drafted and then we are all going to argue to the death as to who has the best and who has the worst. I start off pretty darn strong. I got a pension. I got a pension. Grandpa Dunn would be proud. My debt management is the momentum method. Dave Ramsay would be proud. Emergency fund a line of credit, right? I mean not the greatest thing in the world, not the greatest, but certainly better than a 401K loan, daily money management, cash and carry envelope method. Once again, bald man in Tennessee right now is feeling a lot of pride. Money market is my investing strategy. I just don't trust the markets. I don't trust the markets.
57:56
Damian Dunn
Well, you've got a pension.
57:57
Peter Dunn
Yeah, I just don't trust them. My metric, I chose the best one ever created, power percentage, which is the amount of your monthly income, percentage wise that goes towards increasing your net worth. Some would say it is the best metric ever. Bigly Social Security. Age 62. Well, here's the thing. With my pension and my Social Security at age 62, that's a lot of leisure. A lot of leisure. I will find myself in a clothing optional community in retirement. I don't know, you guys. Coffee got weird today. Transportation, 84 month loan. That one stinks. That one's no good. And health care. Hope and a prayer. But I'll tell you, the burdensome nature of clothing can lead to a lot of health care issues, which is why my retirement strategy worked out.
58:51
Damian Dunn
So can melanoma.
58:53
Peter Dunn
Oh, yeah. We're on LinkedIn. Andy. I forgot we're broadcasting on LinkedIn.
59:00
Kristen Ahlenius
You're going to retire at age 62 with no health care.
59:03
Damian Dunn
That seems like a solid and no clothes.
59:06
Peter Dunn
You know what, you guys? Okay, so let's go through and say who has the worst financial life that we've just described? Ben, you get a vote. Who do you believe has the worst financial life?
59:17
Ben Battaglia
Oh, I do get a vote around here. That's great. I'm going to go Pete. I think Pete's life just between money market investing and Social Security, age 62. I know you have a pension, but that 84 month loan, I don't think you're going to make it.
59:34
Peter Dunn
Kristen, worst life.
59:36
Kristen Ahlenius
It's definitely you, Pete.
59:38
Peter Dunn
I hate this. This is the worst show we've ever done. Damien, do I have to say it out loud? If you want to continue on the.
59:48
Damian Dunn
Show here, yes, it's you, Pete. You are the man.
59:52
Peter Dunn
You know who I think has the worst financial life?
59:55
Damian Dunn
You.
59:56
Peter Dunn
Me man. I got okie doked. All right. Who's got the best financial life now? I think they were going to have some different votes here. Who's just described the best financial life? I'm going first. I'm going kristen.
01:00:14
Damian Dunn
Yeah, it's Kristen. I don't think there's any real strong argument against it. It's Kristen.
01:00:19
Peter Dunn
Ben?
01:00:20
Ben Battaglia
I was on the fence between dame and kristen. I think I'm a solid middle, but I think I will go Kristen in the end.
01:00:27
Peter Dunn
You know what? Where Kristen? I think snakes dame on a couple of things. 100% equities crushes, 100% bonds and the sep IRA is such a sneaky. Great pick. You could argue it should have been the first pick there. Kristen, can I assume you think you have the best one?
01:00:43
Kristen Ahlenius
I also think that I have the best one, yeah.
01:00:46
Peter Dunn
Did anyone else? Damon, did you notice that when it comes to our stock picks contest, that Kristen's blowing us away, and then when it comes to this, that she's blowing us away. And I'm in last place in both of those other contests as well.
01:00:58
Damian Dunn
I was really hoping you weren't going to bring up stock picks or our relative positions in either of those contests.
01:01:04
Kristen Ahlenius
Sorry.
01:01:05
Peter Dunn
It has occurred to me that my utility on this show is simply aesthetic. Yes. Especially on the radio. So here's what we're going to do. Coming up after the break, this menagerie is over. We're not doing this any longer. We are going to do biggest waste of money of the week. Ben, do you want to stick around for that or do you have to do things?
01:01:26
Ben Battaglia
I'd love to stick around.
01:01:27
Peter Dunn
Okay. So you get the guest next to the one thing Kristen's bad at, which is guessing biggest waste of money. And then we're going to hit the news and you can make witty repartee about what is going there as well. All right. So if you missed any of this, go to Peteeplanner.com slash podcast and you can watch the game board get filled up as we go. All right, up next, biggest waste of money of the week in the news on Pete the Planner. I think it was good. I think it was good. But I think if I listen back to this and don't watch it, that'll be the real test of, like, is it too confusing?
01:02:10
Kristen Ahlenius
I think it was a little confusing. I think we could have done a little more preshow planning on it.
01:02:17
Peter Dunn
Preshow planning.
01:02:20
Kristen Ahlenius
Caitlin my other idea was to do where we have to rate picks in a category blind. Like, you wouldn't have known that the retirement investing category was like, sep, IRA, four hundred and one K, et cetera. Ben would give it to the three of us, say, okay, 401K, do you want to rank it one through five? And we would have to rank those blind. It's a much shorter segment, which I think is easier for an audio only format. So that's my fault.
01:02:48
Peter Dunn
Hey, we did our best. It was a good time.
01:02:51
Kristen Ahlenius
I had fun.
01:02:52
Ben Battaglia
But I can come back next year as the commissioner and guide the draft.
01:02:58
Damian Dunn
As long as you create a slide.
01:03:00
Ben Battaglia
Perfect. That's my real utility here is not representing the people. It's slide management.
01:03:07
Peter Dunn
All right, so I've got to get ready to share the screen and start the final thing. Let's get going, because I do believe we have to do some work today as an organization. Let the other 25 people work or whatever. Right. We'll just have some fun. Okay, let's start in three, two, one. This week's biggest waste of money of the week, right here on the Pizza Planner show is drink simple maple water. When most people think of maple trees, they think of syrup. But they also produce water, a clear, nutrient rich liquid that flows through the trees in the early spring. An excellent alternative to soda. Drink Simple Maple Water turns this natural elixir into a tasty, flavorful and health boosting drink. Packed with 46 plant powered electrolytes, prebiotics and antioxidants, it's faster hydrating than water, naturally low in sugar, offers antiaging effects, reduces oxidative stress, and improves V o.
01:04:18
Peter Dunn
Two Max and athletic aerobic performance. Available in four refreshing flavors orange cream, raspberry, lemon tart, cherry vanilla, and BlackBerry lemon, as well as in its original form. Okay, so you all the package of this. You get twelve cans, twelve ounce cans, 1212 ounce cans. That's 144oz of maple enjoyment. How much does it cost for twelve things? Okay, I'm going to start with the worst guesser in human history.
01:04:58
Kristen Ahlenius
Right on.
01:04:59
Peter Dunn
If you were at the mall and there was a giant jar of jelly beans, and you had to for a seven day vacation with your family, guess what was in the jelly bean jar? And let's say the jar is a 55 gallon jar, kristen would guess three jelly beans.
01:05:16
Kristen Ahlenius
That's a little harsh.
01:05:17
Peter Dunn
Okay, four. Kristen, how much does it cost for a dozen Drink Simple Maple Water cans? All right.
01:05:32
Damian Dunn
Dame, $28.
01:05:36
Peter Dunn
And John Benjamin Bataglia, $60. Okay, now you guys know how this show works. Ben, hopefully you know how this show works as you are tasked with marketing from time to time. Actually, not really. I do that myself. And that is why no one listens. There is a honor system about this show, especially when it comes to this segment, that if you know, you have to say, I actually know this. Like, Dame has raised his hand various times and said, I actually know this. And so he guessed lasts or whatever. But to guess as though you don't know, but actually knowing would be a true violation of the spirit of the show. Yes.
01:06:22
Kristen Ahlenius
Does Ben know? Is that what we're getting at?
01:06:24
Peter Dunn
I'm getting at the fact that someone has brought a great shame to this show today. Someone has, in effect, spit in my face because I have spent literally seconds coming up with the biggest waste of money of this week and someone ruined the entire segment by somehow knowing and not sharing with us that they knew exactly how much this cost to buy a case, which is twelve cans of drink simple maple water. It would cost a person $42.
01:06:58
Kristen Ahlenius
Shut up. That's not real. I did not guess that Kristen has.
01:07:03
Peter Dunn
Committed a great crime upon our show.
01:07:05
Kristen Ahlenius
I mean, I know why you would think that, because I am the worst guesser in the world. But you also have to think about the market for beverages like this. And I am the target market. Like, people my age are drinking what are those? Like Ollie pops and all sorts of stuff. And I have a general idea of how much those things cost, but I've.
01:07:26
Peter Dunn
Never seen this shame upon your household.
01:07:29
Kristen Ahlenius
Come on. I can't you guys give me this one.
01:07:33
Peter Dunn
Know and as the treasurer of your HOA, I would probably ask that your neighbors listen to you. I have on good authority that you've embezzled landscaping fund. How dare you dame what's in the news this week?
01:07:50
Damian Dunn
US. Employees aren't doing so hot. In fact, they're the unhappiest they've been since the start of 2020, according to a new report from HR software company Bamboo HR. The finding joins a growing list of recent surveys showing that workers feel unmotivated by and disengaged with their nine to five jobs. We don't know how many times the average employee rolled their eyes during their daily stand up, but we do have other striking data points that reflect growing worker dissatisfaction. Of the 57,000 workers across 1600 companies polled by Bamboo HR, employee sentiment dropped ten times faster since January 2023 than in the previous three years. Another gauge of worker motivation from the ADP Research Institute hit its lowest level in August since June of last year. Bamboo HR reports points to a lingering health and economic impact of COVID layoffs and the return to office mandates. Employees in the tech industry, where RTO mandates have been on the rise, recorded the sharpest decline in happiness over the past three years.
01:08:50
Damian Dunn
Negative 145% if you're keeping score at home. And many are deciding they'd rather quit the commute. For example, when Grindr pete, you're familiar with Grindr? The dating app told all 178 employees to return to the office at least two days a week. Last month, roughly 45% of them resigned. They couldn't go in two days a week. And a deloitte report from August found that 66% of remote workers would quit their jobs if they had to go back into the office five days a week. Kristen, is all this talk about quitting with full time RTO something to be concerned about or just bluster?
01:09:29
Kristen Ahlenius
I think it's definitely something to be concerned about, because the other side of that story is I have friends who were hired to be remote employees who think that they might be forced to go to their office. And I don't think that's in good faith. If you were hired to be a remote employee, saying, now if you were someone who they were, like, if your employer said you can be hybrid and that was maybe loosely defined, or you were originally supposed to be in office and now they're calling you back, I think that's different. But if you were hired as a remote employee and someone is telling you then that you have to go to the office, good for them.
01:10:05
Damian Dunn
Pete, you've got feelings about this topic. Where do you stand?
01:10:07
Peter Dunn
Ben, what are your thoughts?
01:10:11
Ben Battaglia
I think it's all about expectations. To Kristen's point, if you had those expectations from the beginning that you were going to be fully remote and suddenly they're pulling the rug out from under you, I can understand that. But if there was a lack of clarity, then rightfully so to feel frustrated about it.
01:10:26
Peter Dunn
What else is in the news this week, Dan?
01:10:28
Damian Dunn
General Motors made a counteroffer to the United Auto Workers union, proposing a total 16% pay increase for top wage earners in its plants and a 56% hike for newer employees who make less, the company said in its statement. UAW President Sean Fein reacted quickly, saying the proposal is, quote, insulting. The pay raise is slightly higher than what rival Ford Motor Company. Ford Motor Company offered the union, but is still well short of the 46% raise that would result from the UAW's opening bid. GM also included $11,000 inflation protection payments, a shortened period to the top wage, and better pay for temporary staff. Quote, after refusing to bargain in good faith for the past six weeks, only after having federal labor board charges filed against them, GM has come to the table with an insulting proposal that doesn't come close to an equitable agreement for America's Auto Workers, Fane said in a statement.
01:11:23
Damian Dunn
Quote, GM doesn't care or isn't listening when we say we need economic justice. The clock is ticking. Stop wasting our members'time tick.
01:11:35
Peter Dunn
You know, here's the thing. I think public wage negotiations like this are really difficult to pass judgment on because we don't have all of the context that the two parties have. And when aggressive statements are made publicly, it takes advantage of the fact that people don't understand the context. And so I always find that disingenuous, whether it be pilots unions negotiating publicly or auto workers or teachers. I think it's unfortunate that people negotiate on either side in the media, because at first glance, this seems like a reasonable offer. I mean, that's a pretty good wage hike. But since we don't have the context to pass judgment on it and all we get on the other side is that it is insulting. It's really hard, but I guess that's the nature of the labor movement, maybe. I don't know. Ben, how do you view that? I mean, you went to school in Michigan, so you basically are management at GM.
01:12:38
Ben Battaglia
Basically, I'm an auto worker, yes. No, I agree with you. I think that they're playing the game of public perception here and hard for us to know exactly what the behind the scenes story is there.
01:12:52
Peter Dunn
All right, well, Ben, thank you for joining us for the entire episode of the show. You may get invited back if both of these folks get some sort of communicable disease. Kristen, thanks as always for coming up with the game, and Dame, thanks for being you, sending you good vibes, because good vibes are all that's in the budget. I'm Pete the Planner, and this was the Pete the Planner show. Man, that was like The Odyssey 103 minutes show, but or probably an hour and three minute show. I good with math. Sorry. It's Friday. I'm out of math. Man great job.
01:13:23
Ben Battaglia
This is a lot of work. You all are talented.
01:13:26
Peter Dunn
Well, Kristen and damar.
01:13:28
Ben Battaglia
Yeah.
01:13:30
Peter Dunn
That was great. Thanks, Kristen. That was fun. Good job. I don't know if it's going to come off, I'm just being honest, but I really liked it.
01:13:36
Kristen Ahlenius
Yeah, I feel the same way.
01:13:38
Peter Dunn
I also don't want to hear if people liked it or not. Like, if you don't like it, don't let me like just lie to me. Be like, no comments. No comments. When I don't comment on something, I don't comment on it. Right.
01:13:48
Kristen Ahlenius
That's fair.
01:13:49
Peter Dunn
Dame, good to have you back after little car festival situation there.
01:13:53
Damian Dunn
Great to be back.
01:13:54
Peter Dunn
All right, guys, let's go work. We've got 15 days till end of the quarter working days. Let's get after it and go do it. So, everyone else, thanks for being part of this. Thanks for getting a little bit deeper in a relationship with Ben today. I know he appreciates it. He likes friends. And everyone else, stay getting money. Bye.
