00:03
Peter Dunn
Hello, how are you? You want to do a podcast and radio show? Me too. Let's do it. Hello, everybody, it's Peter Dunn, pete the planner, host of the Pete the Planner show. Good to be with you. Damian Dunn joins me, as always. Hello, Dame.
00:17
Damian Dunn
Hello, Pete.
00:19
Peter Dunn
Oh, we have got a good one today. And it's going to begin with the sound of Miguel. Hola, Miguel. Dame, you and I talked before the show. This is needed.
00:31
Damian Dunn
Hola, Pete.
00:33
Peter Dunn
Miguel has a much more masculine voice. Dame, how are you?
00:37
Damian Dunn
I'm well. How are you?
00:40
Peter Dunn
I'm good. I am excited for a rip roaring day of good times. Today is April Fool's day number two. It's Ted's birthday. Ten year old today. Ted Dunn. Number three. This is my last day of work before I go on a vacation. And it's been a very long time since I have gone on a vacation.
01:01
Damian Dunn
Well, we are all looking forward to you leaving for a while.
01:04
Peter Dunn
Can I have a private moment and discuss something with you that can knock it back to my family?
01:09
Damian Dunn
Absolutely. It's just between us.
01:11
Peter Dunn
Okay? So everyone watching or listening right now, here's what I encourage you to do. Don't bring this up with my family. You ready?
01:20
Damian Dunn
Yes.
01:21
Peter Dunn
As much as I need a break and as much as I want to go hang out with my family, I would like to work. I would like to work next week. Is that wrong? Is that a problem?
01:34
Damian Dunn
I'm going to refrain comment in case this does make it back to your family. Somehow there's got to be at least one of us in good standing with Mrs. Planner.
01:42
Peter Dunn
So you're saying there's nothing wrong with that?
01:44
Damian Dunn
Read into that, whatever you want.
01:46
Peter Dunn
Look, I love my wife, I love my children, I love hanging out with them for an extended period of time. I just want to work. I want to hang out with them, but I want to work too. So I think I got a plan. You want to hear my plan?
01:59
Damian Dunn
Yeah.
02:00
Peter Dunn
I'm going to get up really early, which I always you do anyway. I know. I get up 3 hours, 4 hours before anybody else.
02:06
Damian Dunn
Yeah.
02:07
Peter Dunn
So what I'm going to do is I'm going to be in Florida where all the olds are awake. So I'm going to get up, grab my laptop, drive out of the retirement community that I'm going to be in with my in laws, go find a coffee shop and get some work done, and then come back. Now, the issue with this, Dame, is, you know, the weird part about alternate work hours is that what I'm going to miss is the collaboration. Being able to go back and forth and be what I will say is efficient. I can't do that because I'm going to be doing stuff at three, four in the morning and I will not communicate with anyone during that time. What do I do?
02:51
Damian Dunn
I guess if you want to slide a little envelope across the table, I'd be willing to get up at three and four in the morning next week just to be able to bounce ideas.
03:00
Peter Dunn
Off of yeah, I don't need to have my ideas reflected off of your bald head.
03:06
Damian Dunn
Okay.
03:07
Peter Dunn
Dame was in Houston this past week. Houston, Texas. I was at minutemade park. That is like the fifth large, maybe more six 7th large sporting facility that I've done a presentation at. That is a weird thing, the number of large venues like that I've done an event at now, I haven't done it for 70,000 people. It's always a room or whatever there, but it's just strange. You just wouldn't expect that. I've done events at that many places.
03:41
Damian Dunn
Just a picture. You say you're at minimum. I don't think it's minimade park anymore, but it is.
03:45
Peter Dunn
Is it still yeah, I was there with the sign.
03:48
Damian Dunn
I saw the sign picture you standing in the batter's box or up on the pitcher's mound delivering your speech with a giant jumbotron blazing behind you.
03:57
Peter Dunn
Yeah. It's not what it is, but yeah. So I've done an event there. This is not a flex. This is just a peculiarity, as we like to say, done it there this week, done an event, a couple events at target field in Minneapolis with the twins, done stuff at the now it's gainbridge fieldhouse was banker's life for the pacers stuff. Lucas Oil for the colts, texas Tech's football stadium in Lubbock. Sure. Yeah, I think that's right. And it's giant TCU.
04:33
Damian Dunn
Yeah.
04:35
Peter Dunn
And I'm forgetting. University of Colorado, Boulder.
04:43
Damian Dunn
Yeah.
04:45
Peter Dunn
What? Anyway, and as a former college athlete, I can tell you, just feels right.
04:54
Damian Dunn
You're home.
04:55
Peter Dunn
It just feels right.
04:57
Damian Dunn
Yeah.
04:58
Peter Dunn
I have to say, it's nice to be back on the road in some respects, and no one cares about my next comments. I was at the westin in downtown Houston. Hello, brian Pagans. Greetings to you. Hello, Danza. Hello. Greetings to you. I was in the westin, downtown Houston. Dame, I can't remember a friendlier staff at a hotel in a really long time.
05:21
Damian Dunn
Really?
05:22
Peter Dunn
And my expectations are incredibly low because I'm just trying to extend grace as to whatever people are going through. But I felt like I was at, I don't know, some nine diamond hotel.
05:34
Damian Dunn
Did you get a little room upgrade?
05:37
Peter Dunn
No, it was just a regular room. I'm just, like I walked in the lobby, and it was really friendly. And it's not that I don't think Texas is friendly. I mean, that's not it. I go to Texas a couple of times. A was really nice and welcoming, I had to say. When you get off from a long day of travel and you get to a hotel, you just don't want to be aggravated. And that's not to sound like a snooty person. It's just like your whole day is aggravating, and for somebody to be like, welcome were expecting you.
06:07
Damian Dunn
Yeah, I have a reservation. It makes sense.
06:11
Peter Dunn
Good for you.
06:12
Damian Dunn
I'm glad. That's easing the transition back into travel life for Pete the planner.
06:18
Peter Dunn
Jeremiah notes in Facebook Live right now. I feel heard. This does not feel rushed anymore. Jeremiah gave show feedback that we felt rushed. That felt rushed. It felt like the audience was unimportant. And so we listened. We Did Receive Some other feedback about our discussion of my car shopping experience. I don't know how it turned political, some of the feedback we got, but hey, whatever. Thanks for listening. We do have new listeners this week, right? Because I know this podcast will have new listeners. Because I did speak in Houston to a group of people, and people were like, I want to listen to your podcast. I was like, Good luck. So, anyway, welcome to those people. This is the show. And as I tried to explain, when you ask about the show is a show about the recording of a show. So it's a show within a show.
07:11
Damian Dunn
Did we do the standard disclaimer for the new listeners up front? That we are not related.
07:15
Peter Dunn
Oh, we are not related. Damian and I are not related. All right. You want to do this?
07:23
Damian Dunn
Yes.
07:24
Peter Dunn
Okay. Three, two, one. This week on The Pete the Planner Show we answer your money questions. Here's how the show works. You email us. Askpete@petetheplanner.com that's. Askpete@petetheplanner.com. And here's what will happen. We may answer your question. And by we, I mean me and Damian Dunn. No relation. Vice president of advice at your money line. The newly rebranded Your Money line may note. Hello, Dame.
07:48
Damian Dunn
Hello, Pete.
07:50
Peter Dunn
You're doing well.
07:51
Damian Dunn
I am doing well. Are you doing?
07:52
Peter Dunn
Well. Maybe. Dame. This week we're talking automation. Automation. Now. Automation was once feared to wipe out the jobs. Market Well, I can make a robot do what I'm doing. Maybe, Gary. Maybe. But today we're talking about personal financial automation. Dame, I'm looking at you on our camera feed here. I felt like you almost cracked a smile when I spoke in that voice just a second ago.
08:19
Damian Dunn
It's very reminiscent of a couple other voices that you do. And that always puts a smile on my face.
08:24
Peter Dunn
All right. Dame so, automation, we're going to tackle it from several different angles. Automating, your personal finances versus investing, which is completely different. Right? And then we're going to talk about when automation is appropriate, when it is inappropriate and what it looks like when it goes wrong. So this is our automation innovation episode of the Pete the Planner show. If you're listening one of our radio affiliates hello? I hope you're driving safe. And if you're listening from your home and you were hoping to listen to little Orphan Annie today, well, instead, you've got me and Damien. Dame. When do you think automation came around in personal finance? What do you think? The First Sort Of Example of an automated personal financial task was if we're.
09:12
Damian Dunn
Going way back, the first automated task had to be 401K contributions.
09:21
Peter Dunn
Yeah, 401K contributions. Anything coming out of your paycheck in an auto deduct setting is probably the answer there. What do you think, though, once the money hits your account? What sort of automated things? You got to think like ACH, maybe automatic payments out of your checking account for like a mortgage or something like that. But when do you think something digital got involved? Subscription services.
09:50
Damian Dunn
Subscription services. It's going to be a great voice day, I can tell.
09:54
Peter Dunn
Yeah, that sounds good.
09:55
Damian Dunn
It does.
09:56
Peter Dunn
What kind of mic are you using? One with?
10:00
Damian Dunn
Hopefully a filter. Filter there. I'll have to sanitize that after we're finished. Yeah, it's yummy. Automatic ACHS for mortgages or car payments, things of that nature. Automated savings mechanisms. Just moving it, transferring it from a checking account to a savings account or maybe even to an off site savings account from your primary bank to another bank or institution. I think that most of that for most of America is a relatively recent occurrence. At least adoption. Maybe not occurrence, but just adoption.
10:34
Peter Dunn
I forgot my big disclaimer for the day because this show, if it's nothing else, it's just a bevy of disclaimers. I still pay my mortgage in person and that's the one bill I refuse to automate.
10:48
Damian Dunn
And we have talked about that I don't know how many times on this.
10:51
Peter Dunn
Show about can't not do it. I love it.
10:53
Damian Dunn
Personal satisfaction. I think you have an addiction to suckers and you just go in and grab a handful when they're not looking and walk away.
11:01
Peter Dunn
I'm getting to the age where if they had Worthers or some other level of butterscotch hard candy, I'd take it. But no, it's not the suckers. Have you had a sucker recently?
11:09
Damian Dunn
No.
11:09
Peter Dunn
They are sweet.
11:11
Damian Dunn
Are they?
11:11
Peter Dunn
Oh my God. Do you remember the first time as like an adult that wasn't in their 20s? You had a sip of Mountain Dew and it was like, whoa, no. Because you weren't a teen anymore. Do you remember that?
11:23
Damian Dunn
I couldn't tell you the last time I had Mountain Dew, but I'm sure my response would be pretty similar to what you just described.
11:28
Peter Dunn
Try having a bank sucker. It's the worst thing in the anyway, so my disclaimer is this most of my financial life is automated. There are just things that aren't, and I don't have a good excuse. I mean, I have context, but certainly not a good excuse. So dame. I also have to admit I lived for a very long time, part of my 22 years of an adult, or I guess 26 years, depending on how you want to look at it or whatever. Who cares? I think I've had a hybrid model. Some things have been automated and then I've just sort of creeped over the remaining manual things into the automated process. So this includes things like online bill pay. This includes things like automated transfers from checking account to savings account. Instead of sweeping money over at the end of the month into your savings account, having it automatically come out.
12:25
Peter Dunn
Dame and banks even make it easier to be smart about this. It doesn't have to be the 15th of every month. Sometimes you can even do it with your bank like the second Tuesday of every month so it's easier to match up with your paycheck. Do you have any hold out issues in your household or is there any part of personal finance non investing automation where you are still holding out?
12:51
Damian Dunn
We will pay manually some of our bill. We still use bill pay but we are in charge of actually entering the amount and triggering them. We don't have them set up to go. Some of the bills can be submitted. Your bank account smart enough to know that, hey, we'll go out and get that bill for you and go ahead and pay it automatically. I don't do that. In fact I don't do that at all if I can't program the exact amount that goes out. I don't go to that level of automation to let the bank communicate with the person I owe money to figure out exactly what that is and then have it paid automatically. So I don't engage in full automation by any stretch. But man, I like to leverage the automation I am comfortable with.
13:35
Peter Dunn
How many checks physically does your household write per month? Paper checks?
13:43
Damian Dunn
One maybe average.
13:46
Peter Dunn
It's when you pay Cassie rent to stay at your home?
13:48
Damian Dunn
Yeah, rent for my office.
13:50
Peter Dunn
Your Mrs. Planner. I have to admit the Planner household very big check writers.
13:57
Damian Dunn
Really?
13:58
Peter Dunn
Yeah. Dude, I'm telling you. I'm at least willing to admit my things. Mrs. Planner tends she pays most of the utility style bills and most of them she pays with. And by the way of all, I did express the fact that my reluctance of going on vacation next week. But I am not here to say that I want her to do it a different way. That's just her comfort level and I have no reason to try to talk her into a different scenario.
14:26
Damian Dunn
Still spending money on stamps?
14:28
Peter Dunn
Yeah. Yes we are. I don't know if that's the angle I want to go to sway it a different way.
14:38
Damian Dunn
Well I mean if she's got a method and everything gets taken care of and paid on time then who are you to disrupt it? She likes how the way she does it. It's just like you like to walk into a bank and pay a mortgage.
14:50
Peter Dunn
Oh it's great. Now I do the drive through window. I do have to admit there is other than banking. There is one process that I hate automating personally. That this is going to be another turn off for a bunch of other people here. I like to manually budget. I don't like automated budgeting. I don't like the idea that all my data is aggregated and pulled down. There's a digital handshake. It's nice little graphs and categories. I like getting in there and seeing what's going on.
15:18
Damian Dunn
Well, as we know, there is no one size fits all solution for budgeting. Some people want to do it exactly how you do it with a spreadsheet. I was about to say pencil and paper, but I know it's on a spreadsheet. There's no way you're using a pencil and paper. No, it's a spreadsheet.
15:33
Peter Dunn
Several spreadsheets.
15:33
Damian Dunn
Several spreadsheets.
15:35
Peter Dunn
I made an impromptu budget on my flight last week or earlier this week. I thought of something different. My pay had changed a little bit because of health insurance stuff we have at work. And I was like, you know, I haven't accounted for that recently. So I went in there, and it'd been a while since I built a budget from scratch. And I just started over. I just decided, you know what? I'm going to start over our budget. And I looked at our cash a little. It was invigorating. And then I texted Mrs. Planer about it, and she sort of gave me an emoji that suggested that maybe I had a lot more interest in that topic than maybe she did.
16:11
Damian Dunn
I can't imagine that to be the truth.
16:12
Peter Dunn
Pete, don't you love, though? Maybe you don't. Making progress on a fresh like it's great.
16:21
Damian Dunn
Yeah. When you can sit down and focus on finances and feel like you've gone from something unknown or not updated to the most recent version of what you've got going on there. Feels like an empowerment almost.
16:34
Peter Dunn
Here's what we're going to do after the break. We're going to talk automation as it relates to investing because that will take you to the promised land, and that is not promissory. After the break, we'll do that. I'm Pete the planner. This is the Pete the Planner show. I almost hit end broadcast. Right know.
16:52
Damian Dunn
No, I've never done it, but I've watched you almost do it a few times.
16:56
Peter Dunn
Good times. Yeah, it was fun. I really enjoyed the spreadsheet. And of course, what I did was I found what I believe our margin to be, our new margin, and I really should pull this up. I took about 48%. I'm doing the math on the fly. Sorry. And it's a Friday. About 48% of what the projected margin was and increased my savings by that amount. And then I'm going to go a couple of months and see if the 52% gets absorbed or if it starts to build the minimum cash balance.
17:36
Damian Dunn
Yeah. In my head, I'm envisioning all these dramatic shots cutting back and forth. If you just hunched over a computer on the plane, that's exactly what happened. Calling the flight attendant, asking for some refreshment to make sure that you're hydrated properly to get through this budget, I just realized.
17:52
Peter Dunn
And right next to the camera, here. Sorry, podcasters. There is something I need to grab that I keep forgetting to grab for my next flight and I actually want to grab it right now and put it on my desk. I'll explain in a moment. So dame don't try to entertain people.
18:06
Damian Dunn
It doesn't work.
18:06
Peter Dunn
Hold on.
18:09
Damian Dunn
So what I have the opportunity to do now is entertain but I won't.
18:14
Peter Dunn
Because I guess I could talk my way through. Oh, you could have talked when I was doing my budget on the plane. This dude next to me, let's call him Rick. Actually let's not call him Rick because Rick Swink's not here yet today and we do not want to disparage name Rick. Let's call this guy Wendell. Wendell's staring at my spreadsheet and so I've got this security screen that doesn't allow a person to read what you're typing on your laptop. And since I am flying to vacation on Monday and will be working on the plane, I'm going to take that with me and I forgot it. So there. Close that loop.
18:49
Damian Dunn
You could have just looked over at the guy and tilted your computer slightly and said, hey, what do you think about these numbers? I know you got a big interest in these.
18:57
Peter Dunn
It is weird and maybe I'm wrong here. It's always possible it is weird to watch your cash flow change and to start over your budget from scratch because very quickly, because of inflation, because of pay changes, because of benefits cost changes, it's really easy to have your cash flow change and your old budget. The Tweaks not really feel like they work out. I just wanted to start from scratch. I will go as far as to say I recommend Hot Mike. Brian Pink is with the Mr. Wendell reference. Dame, you've got to know this. I know you're not a hip hop prosario, but it's where my mind went.
19:45
Damian Dunn
When you said Wendell was Mr. Wendell.
19:47
Peter Dunn
Okay. And who performed Mr. Wendell?
19:51
Damian Dunn
Said the boy.
19:54
Peter Dunn
Oh boy. That was as predictable as anything. Rested Development. The answer is Arrested Development. Oh, show recommendation.
20:08
Damian Dunn
Rested Development. That's the same person, same group that did exactly Tennessee, right?
20:15
Peter Dunn
Yes. Yeah.
20:16
Damian Dunn
So I had the right group in my head, just the wrong name.
20:19
Peter Dunn
Okay. Summer of Soul is the documentary that won best documentary at the Oscars last week. Summer of Soul quest love. Amir was the director of said documentary Mrs. Player and I watched it last night. If you want a good 2 hours of just like sitting back and learning and feeling good and being sort of proud of what this country can put together, I would highly recommend Summer of Soul, the documentary by Questlove.
20:59
Damian Dunn
Can you hear the bird banging up against my window right now?
21:03
Peter Dunn
Is that a euphemism for no?
21:05
Damian Dunn
No, I've got a bird just repeatedly running into my window.
21:09
Peter Dunn
Do you have your speakers on your room? Like could the bird hear me if.
21:14
Damian Dunn
I just in my ears. If you yell, I will not be happy.
21:17
Peter Dunn
How about if I send a tweet? There we go.
21:20
Damian Dunn
There we go.
21:21
Peter Dunn
All right. Three, two, one. Back on the Pete the Planner show. Dame, we're talking automation today. The robots are stealing jobs. That's not what we're talking about. We're talking about certain processes in your life are just so much better when they're automated. And in my estimation, in my opinion, albeit an expert and informed opinion, I think the best use of automation is investing. And most people, which is a really weird blanket term to use, a lot of people also feel lazy, have experience with automated investing primarily through their employer, the decisions they make through their retirement plan. So what I'd like to do is I want to start there. I want to talk about the different levels of automation that can exist even within your retirement plan. There's probably five or six different layers of automation that can occur. So let's begin there. Dame, take us to the easiest way to do this, which actually, all things considered, some employers automate the process for you by having automatic enrollment.
22:31
Peter Dunn
You are automatically enrolled in the program. And I will note that's generally a good thing because it lowers the barrier of entry. Yeah.
22:41
Damian Dunn
Automated enrollment is a huge step towards helping people become more secure for their retirement. They found that I think it's almost an 80 or 90% acceptance rate when it is an automatic enrollment where you have to say, no, I don't want to participate in my employer sponsored retirement plan even if it's just a 1% or 2% or 3% to get that match that the employer is hopefully offering you. Automated enrollment is huge. The next step though well, I don't.
23:13
Peter Dunn
Know where you're going with your next step. So why don't you go there? Because I have another step as well and I don't know where it fits. So why don't you go first?
23:19
Damian Dunn
I was just going to say contributions.
23:21
Peter Dunn
Okay, well that's what I was going to say. Okay.
23:23
Damian Dunn
Yeah.
23:24
Peter Dunn
So here's the thing. You're automatically signed up. They put you in at a certain level. It's usually around the match. It's usually at the point to maximize the match, which is great. We like that. We like that. It's not less than that is maybe what I should say. But wouldn't it be neat if you were automatically enrolled? What I'm about to describe is a pipe dream. What's the origin of pipe dream? Is it that someone is like inhaling Hallucinogenics?
23:57
Damian Dunn
Is that I'm assuming it has some drug reference to it.
24:00
Peter Dunn
Okay, not a big drug guy. So maybe I won't get fast and loose with pipe dream here. It is a dream. Dream to a person is automatically enrolled and they're enrolled at a contribution level that puts them on track to their retirement goal. Wouldn't that be amazing?
24:19
Damian Dunn
Yeah, it seems like that wouldn't be too much of a request for 401K sponsors to just make it set up to where if you know you're going to contribute 4% or 6% or 10% based on the number of years you've got left and roughly what the expected return would be, here's how much you're going to have.
24:40
Peter Dunn
Just add enrollment.
24:41
Damian Dunn
Add enrollment.
24:42
Peter Dunn
So I've got things to do on my flight to where I'm going next week, but you've just got me thinking about a new spreadsheet I want to make that actually would figure that out. Have you been drinking a very sour lemonade today which has got your mouth producing all sorts of excess plasmas and.
25:03
Damian Dunn
It was fine five minutes before we started. I had none of this, and all of a sudden you hit record or on air or whatever you hit, and here we are.
25:12
Peter Dunn
It's the ultimate appetite suppressant as listening to you talk today. So I appreciate that. So, yeah, knowing exactly what to invest isn't automated, although I will note a lot more. Employers are doing what's called an auto escalate, which is that every year your percentage of your contributions go up a percentage or so. And I like that. I think the next choice becomes within automated investing is, okay, what do I invest in? There's a couple of different ways that this has been automated with a robo advisor, something like a Betterment.com or there's other ones. You answer questions about what you're hoping to accomplish, and then you were automatically placed in a portfolio that works to accomplish that. Now that's pretty smart. I like that. But there's also another automated way that's a little less complex on the surface and that's, hey, when do you want to stop working?
26:05
Peter Dunn
What year do you want to stop working? And when you answer that, then it puts you in what's called a TDF or a target date fund and dame. That's where most people experience asset allocation in an automated way.
26:17
Damian Dunn
Yeah, those accounts are very prevalent in 401K plans these days. Very simple, straightforward. You pick the date that most likely corresponds with when you want to retire, and the fund company handles everything else. They'll use a handful of funds, five, six, maybe seven funds, and based on the time horizon that you've got left, they will adjust the amount invested in each of those funds to roughly line up with the amount of risk that can be taken reasonably between then and the time you retire. And it handles it automatically. All you have to do is worry about showing up to work, getting paid and making those contributions.
26:53
Peter Dunn
I am trying to measure my next comments, okay. Because I don't want to give investment advice on the show. That's not what we do. We're not like, always this, never this. That's just dumb. And we also don't like to give the call us on Monday and we'll figure it out. That's also a bit silly. But I do want to say something rather bold. It's hard to understand why most people simply just don't have target date funds. I think it is a mistake for a large number of people to do something other than target date funds.
27:30
Damian Dunn
It would be a very interesting study. Well, we kind of know, we know what the average investor's return is over certain stretches of time versus what indices returns are. And that's not good. The average investor's return is much smaller than what just an index SP 500 index return is. Target date funds would take a lot of that issue out of it. They're not going to allow you, assuming you don't get in there and pull your money out when things get shaky, they're not going to allow you to make potentially poor decisions on investment choices or rebalancing or not rebalancing or any of that stuff. You just keep sending money to them. They'll handle the rest. And that's the beautiful part about this.
28:15
Peter Dunn
You could argue that the target date fund that your employer has for you in your plan isn't good. You could say, well I don't like the glide path or I don't like how they have the allocation. You could say that if you are in some way qualified to say that, you could also say it if you're not qualified to say it. And then what you do next though is kind of important. Dame if I'm like, hey, I don't like the glide path of my target date fund, that's why I'm going to choose my allocation myself. That in itself because I disagree with the target date fund glide path doesn't mean I know what I'm doing.
28:52
Damian Dunn
No. And that's not to be rude or disrespectful to the individual. I'm sure you have your best interests in mind. But picking your investments is a rather weighty decision that you need to make sure you understand the consequences of. And if you don't, and if you don't understand the risks and rewards that come along with that, you may better off just letting someone else do it, which is a target date fund or hiring a professional to pick your portfolio for you inside of your 401K or 403 B or whatever the case may be. But expecting to outsmart the room in these cases is very dangerous games to play.
29:34
Peter Dunn
People love to be right.
29:36
Damian Dunn
Oh yes.
29:37
Peter Dunn
And they love to be the root cause of being right. It's not good enough to say, oh, I chose a target date fund and I retired successfully. People would rather say I picked a basket of securities individually and I retired successfully. The second option I just gave you is preferable to most people based on how they invest, which is wild. And I also note this is anecdotal I think it's gender driven.
30:07
Damian Dunn
Oh yeah, totally.
30:11
Peter Dunn
I don't know how to get to a place, but my goal is to get to a place and the best way to get to a place. Is to stop at a gas station pre navigation system and ask where to go. I didn't want to because I wanted to be the primary reason we got there. And so I would say to Mrs. Planner, just like that, I'd shush her. My finger would touch her lips. I'd got it. And we'd be lost. But it's because I wanted to be the solution. Coming up after the break, more on this right here on the Pete the Planner Show. I'm Pete the planner. I blew through that break.
30:48
Damian Dunn
I don't think anybody believes that you shush Mrs. Planner.
30:52
Peter Dunn
Oh, God, no.
30:53
Damian Dunn
No way.
30:55
Peter Dunn
Kidding me? She's terrifying. People are like, oh, it's so petite. Like, even the fact that I'm saying this on radio, right. Like, I'm terrified.
31:06
Damian Dunn
There's so many things in this show that could potentially get you in trouble.
31:12
Peter Dunn
She's a very nice woman. Do not cross that woman. Why do people want we took this sort of I hate the concept of personality test, but we took this thing at work called an acumax of, like, are you more interested in the right idea or your idea? Right. We sort of took this, and I took great pleasure in knowing that the results came back for me, as I'm the most interested in what is the best idea, not my idea. And that made me feel good.
31:46
Damian Dunn
You had the highest score on that.
31:48
Peter Dunn
I don't know if I had the highest score, but I had a high score in that regard.
31:52
Damian Dunn
Okay.
31:53
Peter Dunn
Yeah. Which is weird, because I feel like that's changed. I was a my idea guy for a long time.
32:02
Damian Dunn
Well, I think that goes along with the territory, Pete. No, most entrepreneurs are pretty convinced that their idea is the best.
32:12
Peter Dunn
I don't like the word entrepreneur. I feel like it's really stuck up, and it's hard to spell, and I hate how many syllables it has.
32:20
Damian Dunn
What word would you like me to substitute?
32:22
Peter Dunn
Business owner.
32:23
Damian Dunn
Business owner?
32:24
Peter Dunn
Business owner. I know. I just don't like the word entrepreneur. It's obnoxious. It's like, yeah, throw a couple of r's in.
32:30
Damian Dunn
It's like it is French. I don't know.
32:34
Peter Dunn
I took Latin. I don't know.
32:37
Damian Dunn
Of course you did. Worried about being stuck up.
32:39
Peter Dunn
My took Latin only eight years. Okay. You think I'd be a doctor or a farmer or something, right?
32:47
Damian Dunn
No, I wouldn't.
32:50
Peter Dunn
No. Can you think of any worse profession for me than doctor farmer? I could watch some YouTube stuff about farming.
33:02
Damian Dunn
Yeah.
33:03
Peter Dunn
What do you think the worst profession for you? Not something you wouldn't want to do, but that your skill set doesn't match nothing like professional athlete. We understand that you're inadequate that way, but, I mean, just general skills. What do you think? What's the worst profession for you?
33:18
Damian Dunn
Radio host, probably. I'm sure there would be plenty of here hears in the comments on that.
33:24
Peter Dunn
Yeah, I'm trying to think what mine would be. Doctor's not good.
33:29
Damian Dunn
Attorney for you? Probably.
33:32
Peter Dunn
Really?
33:33
Damian Dunn
Yeah. I couldn't do a trial. I think too much. I couldn't respond to somebody on the stand.
33:40
Peter Dunn
Web developer for me.
33:42
Damian Dunn
Really?
33:43
Peter Dunn
Yeah. Pinken says personal trainer. Are you talking about for you or for Dame Fair? I mean, I don't feel like I.
33:51
Damian Dunn
Could transition to personal trainer pretty easy after what I do, right?
33:55
Peter Dunn
Exactly. Yeah. I'm going with web developer.
34:01
Damian Dunn
You're a couple cans of Miguel. Short of being a great web developer.
34:04
Peter Dunn
Lee has a good one. Zookeeper. Oh, for me? Can I be a zookeeper? Let me think about that.
34:12
Damian Dunn
Parking attendant. You'd be great at parking attendant.
34:15
Peter Dunn
Oh, my God. I would tell people I Ubered in Houston because my Lyft app had like a 30 minutes delay to get someone out to the airport. So I switched to Uber and someone was there in two minutes and I was like, I usually like to use Lyft for corporate ethics reasons, but my ethics aren't strong enough to wait 30 minutes to get a ride to my hotel. I was compromised.
34:41
Damian Dunn
We all have excuses, Pete.
34:43
Peter Dunn
Dame, do you have any idea what the lyrics are this week on the screen?
34:49
Damian Dunn
Is that Eric B and Rakim?
34:52
Peter Dunn
Well, you're half right. It's Eric, B and Rakim.
34:54
Damian Dunn
And in northeast Indiana was rakim.
34:59
Peter Dunn
Well, that's not surprising. Did you Google it or did you know it?
35:06
Damian Dunn
I recognized the song, but I couldn't have told you who it was. Once I heard the words or sorry. Saw the artists names.
35:15
Peter Dunn
I did realize there was some mild profanity in last week's streaming lyrics.
35:20
Damian Dunn
Yeah, that's when I made the comment about that's a strong lyric right there.
35:24
Peter Dunn
It was a little saw that on the playback. Sorry, everybody.
35:28
Damian Dunn
Then we're going to have to get our very first parental advisory warning sticker on the outside of our podcast.
35:37
Peter Dunn
I had someone tell me the other day I should have a podcast. They heard me talk about you should have a podcast. And I said, I do. And they went, oh. And they didn't ask any more about it, were saying, oh, you should have one because I want to listen to it. And I was like, I do. And then they didn't try to get the information of how to find it.
35:57
Damian Dunn
Well, if you're listening this week, hi.
35:59
Peter Dunn
Well, I didn't know if maybe it's just because I'm a white guy and they were like, you should have a podcast. Every white guy on the planet feels like he should have a podcast.
36:07
Damian Dunn
No, they definitely shouldn't.
36:10
Peter Dunn
No, I should barely have one and I'm not even sure I should. It's with that. We go to three, two, one. Back on the Pete the Planner show. Dame, automation is the topic for today. How do you automate your finances to make the outcomes what you want them to be? We've talked about bill pay, we've talked about savings, we've talked about saving for investments or investment strategy using automation there. I want to spend a couple more minutes on that before we talk about where this can all go wrong. I have a hard time not automating a person's investment strategy, working backwards off what they need to do in order to retire successfully and taking a vast majority of the guesswork out of it.
36:53
Damian Dunn
Yeah, I mean, this kind of lines up really well with our favorite budgeting technique between you and I personally, the lazy Man's budgeting technique, where you start with the end in mind, figure out what you have to do to get there, and then figure out what else you've got to play with in the meantime. So, yeah, it makes all the sense in the world to me to just knock out the goal first and foremost and then figure out the rest after that.
37:17
Peter Dunn
So you also just happen to identify where this can go wrong too, right? So there's a couple of things. One, you fund the goal first and then spend what's left over. So here's the first way it can go wrong is if the complexity and the dynamics of that change and you do not adjust. So that is one way it goes wrong if you are asleep at the wheel, so to speak. And the other way that we need to help people understand where something can get weird is if your income is increasing and you're funding your goals consistently, yet the amount of money, the amount of margin you have to spend, the amount of discretionary spending continues to grow. What you could find happening is that you're saving a lower percentage of your income as your income grows. Therefore, you're getting further away from your retirement goals because you're spending more, you've absorbed more into your lifestyle as opposed to saving more.
38:21
Peter Dunn
And you may go from saving 26% of your income to 23% of your income because of that pay raise, especially if you're maxing out your four hundred and one K. And in that action, especially over a decade or so, you've gotten off track for retirement unintentionally. Yeah.
38:40
Damian Dunn
And it's possible that maybe you're okay by ignoring that because you've done such a great job at saving and you're on track for having more than enough money to cover your needs in retirement. But that's where it can get really tricky and also draws attention to the importance of making sure that you are on top of these things, that you are knowing how much you are spending on a regular basis and that you're not outspending your future income needs by making sure you're saving what you need to and keeping your lifestyle creep in check as well. We're not saying pete and I are not saying that your lifestyle can't increase as you start to make more money and progress in your career. Just be conscious of it. Make sure that you know where that money is going and is it reasonable and are you doing enough on the back end to make sure that you're going to have plenty of resources in retirement.
39:30
Damian Dunn
If you can check all those boxes then enjoy life man, enjoy that income and make sure you are set for the future.
39:38
Peter Dunn
I have another example where automation goes wrong. Paycheck tax deductions over time. If you've got withholding set up within your paycheck with your employer. From a tax perspective, as tax law changes and as your income changes and the complexity of your life and family dynamics change, that automation can become immediately inappropriate and lead to giant tax refunds which aren't necessarily good or owing a large amount of unexpected tax payment. And that is also not preferred.
40:17
Damian Dunn
No, anytime you are getting either of those either writing big checks or sending ACHS to the government, whichever you want. If you prefer writing checks so be it or getting them back from the government, things are wildly off sync at that point and you need to make sure you're getting back in there, cleaning things up, do a new W four and get things in order because you don't want to be in either of those two positions.
40:42
Peter Dunn
You know, another tricky one is if you've automated payments via online bill pay as opposed to let's say your mortgage for instance, let's say your mortgage is not at your bank, your mortgage is at a different bank. And so if your automatic payment is with the mortgage bank you don't have a lot to be concerned with. But if you're doing it via bill pay from your primary bank and then the property tax or insurance shifts and you're just paying the automatic amount and you've earned the luxury to not think about it, you can find yourself getting late payments on your mortgage via underpayment. And I know this dame. That's why I actually did that years and years ago.
41:27
Damian Dunn
So this is why one of the reasons that led you to wanting to make sure you make those payments in.
41:31
Peter Dunn
Person don't psychoanalyze me Freud.
41:36
Damian Dunn
And it's all coming together now. Don't do I mean I will have a moment of clarity or transparency here as well.
41:47
Peter Dunn
Keep your shirt on.
41:49
Damian Dunn
Yeah, there's no worries about that. We pay our mortgage with an ACH as well but we've always paid a little bit more, set it up for more than what the mortgage payment and escrow and all that is. And it gives us the luxury to say we don't need to do anything when we get that increase on property taxes going up or insurance is going up and we get a little blase fair about it. We've never gotten a late notice or underpayment notice but I could see how it would happen really easy just to have built that habit of thinking everything's fine. Yeah we got that notice and I need to go in there and get it changed and maybe you don't get it changed on time and all of a sudden you're late.
42:34
Peter Dunn
I would also like to note that I think it's very rude that you just blamed your wife for that.
42:39
Damian Dunn
What?
42:40
Peter Dunn
Yeah, that's what I heard.
42:42
Damian Dunn
Oh, okay. Well, I'm sure she doesn't sound that way in the comments section.
42:49
Peter Dunn
I will tell you another weird automation that doesn't feel like automation is when you don't change your address with a financial institution or someone you owe a bill to and then they end up sending bills and they don't get forwarded or statements. They don't get forwarded. One of my earliest financial mistakes as an adult was I've told this story on the air before my business address changed. This was probably 2001. Wow. Idare. And I was thinner. Doesn't matter. I had a business account and I didn't use that business account that much because it was for a small project. And then my business address changed. They couldn't find me. Service fees made the account go negative and I ended up getting a collections debt because an account I had hundreds of dollars in went negative because of fees because they never found me, because I never changed my address.
43:42
Peter Dunn
So it's like that is a form of automation that can get a person in trouble. And I have actually seen that happen a lot to people.
43:48
Damian Dunn
Just had this happen, honestly.
43:49
Peter Dunn
Oh my gosh. I love when you do things that are less than ideal. Yeah.
43:53
Damian Dunn
I had some utility bills going to a PO box that I'd used for some other purposes. Decided I wanted those sent to the house from now on. So I called those organizations that had them changed the address and I said, hey, I just want to make sure the next bills will come to my house in time for me to pay them. Right, of course they will. Sure they will. Well, they didn't, so I was late on three different bills.
44:16
Peter Dunn
Wow.
44:17
Damian Dunn
Yeah.
44:17
Peter Dunn
Again, blaming your wife's not the way to go here.
44:20
Damian Dunn
No.
44:20
Peter Dunn
She is the true financial expert of your family.
44:22
Damian Dunn
She is.
44:24
Peter Dunn
Isn't that weird that those sorts of things happen? And in fact, here's how I know they happen. Because there's a website for every state in our country called whatever Unclaimed. The very mere fact that there are millions of dollars@indianunclaimed.com that people have forgotten about this money because of simple aspects of automation, that is illuminating, to say the least.
44:49
Damian Dunn
Secure act 2.0 is going to propose that we start a website just for that. For forgotten retirement accounts.
44:58
Peter Dunn
Look at you. Tying in current event, dare I say this could be two really good shows in a row.
45:07
Damian Dunn
Don't jinx it.
45:08
Peter Dunn
It would have been three, but your mic didn't work two weeks ago. So we lost the show.
45:11
Damian Dunn
It was a great show.
45:13
Peter Dunn
It was. Okay, dame, here's what we're going to do. We're going to take a break because we got to breathe. I'm going to take a couple of swigs of Miguel and here's what I want people to do. I want people to go to the newyourmoneyline.com just to see it's beautiful. That's it. Go check it out. It's where Dame and I happen to work together. Yourmoneyline.com we don't want to sell you anything. Just take a look. It's pretty. And then Dame, we'll come back with biggest waste of money of the week and the news. We are taking next week off, everyone. It will be a best stop. We're taking a week off so I can hang out with family. All right, we'll be back. Just a moment right here on the Pete the planner show. I ended a segment four minutes, 4.3 seconds early just so I can make our producer, Matt have to play a little more John Cougar Mellon camp for the people.
46:05
Damian Dunn
Good luck, Matt.
46:07
Peter Dunn
It's funny. So our flagship station is WIBC out of Indianapolis, and they put the bumper music on after I send them the segments, and it's of they make choices of what they think our vibe is, and it is pretty. I mean, I'm not a big John Mellon camp guy, but they'll put, like, Beastie Boys sometimes as our lead in music. Yeah.
46:34
Damian Dunn
Oh, wow.
46:35
Peter Dunn
Yeah. Which, you know, I mean, look, all things considered, our show is different from a lot of what's on some of the stations that carry us. Not good, not bad. Just different.
46:47
Damian Dunn
What tracks from Beastie Boys do they play?
46:54
Peter Dunn
I could give you the beat. I can't think of the name of it. I think it's ryman and stealing, actually. Like the instrumental for Ryan and stealing lee. Thank you. Yes. Innovate map designed our site and our new brand. It looks very nice. It's a nice evolution. One of the fun parts of having your brand evolve over time is that we're doing something called deep heating the brand. So it's a lot less me, a lot more everyone else, which I'm glad to do. You know what I mean?
47:25
Damian Dunn
Yes, I do.
47:26
Peter Dunn
Yeah. It's nice. It's very nice. All right, so let's do the rest of the show here. Let's finish up. Yeah, I think it's the best thing to do. I don't know why I'm whispering. You really were not accusing your wife of making all those mistakes.
47:43
Damian Dunn
Oh, I know that. So does she.
47:45
Peter Dunn
I know. I'm just trying to get you in trouble.
47:47
Damian Dunn
I know. So does she.
47:49
Peter Dunn
Yeah. The text still sounds like Pete. Well, kind of. I still work here, and I still have some influence. My daughter was acting weird last night, and I accused her of being the least influential influencer in the world because she's in that world of being a 13 year old who beholden to influencers. And I felt that was clever, but then I realized that it's probably some level of bullying that she's going to have to talk about years from now.
48:17
Damian Dunn
Yeah. I don't think she's probably going to appreciate that.
48:22
Peter Dunn
No. Okay, here we go. I'm just trying to the mechanism of how I want to do this. I think we're going to start there, and I'm going to start the segment. Three, two, one. This week's biggest waste of money of the week right here on the Pete the Planner show is every week on the show, we do something that's out for sale, and it's a waste of money. I don't recommend you buy it, but, I mean, you can. It's just sort of hastens. Dremmer bed Haston's Or Hastings or Hasteines honors 170 years in the luxury bedding business with its latest masterpiece, the brainchild of designer Ferris Rafali, the Dremmer bed is the culmination of six generations of craftsmanship and the finest natural materials. The mattress is made from layers of padding using a combination of flax, cotton, wool and horse hair, covered in the brand's trademark checkerboard fabric with horse logos, it's mounted like a handsome Steed.
49:29
Peter Dunn
I added that part on lacquered wood legs and complemented by a plush velvet headboard with piping and wingback detail made in the company's. Swedish workshop. Swedish workshop. That's hard to say. That say Swedish workshop three times fast.
49:44
Damian Dunn
Dame no, do it. Swedish workshop. Swedish workshop. Swedish workshop.
49:49
Peter Dunn
Yeah, it's too slow. Each piece takes artisans 300 hours to complete. So first of all, Dame, this thing is made of flax, cotton, wool and horse hair. Number one, it's going to make you regular. Number two, it makes for regular sleep. Number two sounds itchy.
50:04
Damian Dunn
Yeah, a lot.
50:06
Peter Dunn
What do you think this bed, this Swedish bed costs?
50:10
Damian Dunn
Do you think there's any way that's pronounced dreamer instead of dremmer?
50:13
Peter Dunn
I'm not here for people pulling letters out and it's like, oh, now you call us. Okay. They just remove the a probably dreamer.
50:26
Damian Dunn
This bed, let's go with $18,000.
50:31
Peter Dunn
Okay. Oh, that's what dan's a guess. Wow. You do anyone else want to guess there on Facebook Live as what this thing costs? Dame, it may shock you to learn that this bed cost $35,790.
50:47
Damian Dunn
I mean, shock is a little strong. I'm used to being wildly under what these things cost, but it's a lot of money.
50:54
Peter Dunn
Speaking of random amounts of money, and this sounds like a complaint. It's not. It's just a peculiarity that I want to point out. I was going through the TSA checkpoint this week, and there was a sign telling people to not harass TSA agents, which I'm in full support of not harassing TSA agents or anyone, for that matter. I don't want anyone to be harassed. And it threatens a fine of, like, $13,483 and something like that. Right. Something very specific. And I was like, Why is that number? Is it meant to be part of the deterrent? And you're like, Well, I can't even do that math quickly. I will not call that person a nerdy. Well, at what point does that feel like it will prevent a crime?
51:44
Damian Dunn
I'm sure there's research behind, much like when you drive through certain apartment complexes and the speed limit is like seven and a half.
51:50
Peter Dunn
Yeah. Our neighborhood speed limit, I believe, is 18 miles an hour, which feels very carmel dame, what's in the news this week?
52:00
Damian Dunn
Well, Pete, should we talk a little bit more about Secure Act 2.0?
52:04
Peter Dunn
I was hoping you would.
52:06
Damian Dunn
Americans could stash more in their 401 KS and sit on their nest eggs longer under a House bill that aims to boost individual retirement savings. The bill passed Tuesday of this week by a vote of 414 to five.
52:20
Peter Dunn
Okay, who are the five?
52:22
Damian Dunn
I have no idea.
52:23
Peter Dunn
Oh, I'm going to look.
52:24
Damian Dunn
Raises the contribution limits for older workers, lets companies offer employees a small cash bonus just for signing up for the retirement plan. Bipartisan measure, which some are referring to as Secure Act 2.0, would build on retirement policy changes enacted in 2019 that, among other things, raised the age people were required to start withdrawing money from their retirement accounts to 72 from 70 and a half. Pete, there are a number of things that this bill provides. Let's look at them. Mandatory automatic enrollment and escalation. Secure act 2.0 would require employees that establish a new defined contribution plan to automatically enroll newly hired employees when eligible in the plan, the contribution would start at 3% of the employees pay and then would increase annually by one percentage point, up to 10%, but not more than 15% of the employees pay.
53:25
Peter Dunn
That's not bad.
53:26
Damian Dunn
I don't have a problem with that.
53:29
Peter Dunn
Yeah, I always wonder. First of all, anytime you hear the word wide bar or the phrase wide bipartisan support, it gets your attention.
53:40
Damian Dunn
Yeah.
53:40
Peter Dunn
Because we can't agree on anything.
53:44
Damian Dunn
Yeah.
53:44
Peter Dunn
And I'll take five people saying no. I mean, there's probably two reasons why people said no one undue pressure from lobby and who they accept money from. That's the cynical way to look at it. Or two, maybe they were in the industry in some form and they feel not so great about it. I saw even Ed Slott, who is a very prominent financial mind, found the actually, he likes that it reduces the draconian RMD penalty. So he found favor with it. But there are going to be other congresspeople who look at it and say, well, because I was an insurance advisor, I think this or that. And I think that's how you got to the five people voting against. Yeah.
54:29
Damian Dunn
Mr. Slott also said that it's not going to be quite as beneficial as most people think, delaying RMDs, because you'll just be taking larger amounts of money out when you have to take RMDs, and that could potentially push you into a different tax bracket. So some good, some bad.
54:47
Peter Dunn
I just got to find out who voted against it. I don't know why this matters to me.
54:51
Damian Dunn
I'm trying to figure out who the organizations, the lobbyists would be that would be against this.
54:56
Peter Dunn
I don't know what else is in the news. While I track down these people who voted against it.
55:02
Damian Dunn
There's so much more that we could talk about here.
55:04
Peter Dunn
Oh, well, then keep going.
55:05
Damian Dunn
Okay. You could increase and Rothify your catch up contributions existing four hundred and one K and four hundred and three b plan catch up contribution limits for those age 50 would be kept, but the annual catch up amount would be increased to $10,000 for participants ages 62 through 64 starting in 2022. And this limit would also be indexed for inflation. Under current law, the 2022 limit on catch up contributions for employees who have reached age 50 is $6,500. However, a Secure Act 2.0 also provides that starting in 2023, all catch up contributions to employer sponsored plans must be made to Roth accounts.
55:44
Peter Dunn
That's interesting.
55:46
Damian Dunn
Isn't it, though? Plenty of other stuff delaying mandatory distributions. The RMDs that would get pushed to 75 years old over the course of about ten years. It would expedite part time workers participation and eligibility into retirement plans. It would authorize student loan matching. Pete one of those topics that has come up off and on for a while, that matching contributions from employers could be directed towards paying down student loans.
56:16
Peter Dunn
I have really big mixed feelings on that. Now does not feel like the time. Dame, what else is in the news? All right. I get the feeling like you and I nerd out about that topic. I'm not so sure a bunch of people care beyond what we've just mentioned.
56:28
Damian Dunn
Florida is officially the largest state to mandate a financial literacy course for high school graduation. On Tuesday, Florida Governor Ron DeSantis signed Bill SB 100:54 into law. The new law will apply to students entering 9th grade in the 23 24 school year and require that they take half a credit course in personal finance before they graduate.
56:51
Peter Dunn
I think that's good. I think the tough part about this I've said this for years the tough part about financial literacy for teens is that in order to do it well, it just needs to be a course on warning people against corporate greed and malfeasance and how they could be subject to it. But the problem with that is most of the people that fund these literacy programs and want people to incorporate financial literacy into curriculum are people on the other side of that malfeasance. So they're not going to teach people how to avoid corporate know. And so that is a very cynical look, but that's kind of how it works.
57:36
Damian Dunn
So you're saying this bill may be sponsored by Wells Fargo.
57:40
Peter Dunn
Is it?
57:40
Damian Dunn
I don't know. Probably.
57:42
Peter Dunn
And not them saying, you know, I thought of an idea yesterday that I was going to bring up to Queen of Content Kristen on our team. Queen of content. That just happened.
57:54
Damian Dunn
Yeah, I think that might be right.
57:56
Peter Dunn
But when I was in Texas this week oh, show's over. I gotta go. The show's over. I can't even tell you this story. Oh, thanks for listening to the show, everybody. This is a great story. I assure you come back next week to not hear it either. Send you good vibes, because good vibes are all in the budget. I'm Pete the Planner, and this is the Pete the Planner show. Yeah.
58:14
Damian Dunn
Well, there you go. I apologize. I didn't start my Watch that segment, so I had no way of leading you into that gracefully.
58:22
Peter Dunn
Two things. I was in Texas, and people are like, hey, how's the Queen of Texas? Because we called her Queen of Texas for a and, like, she's got fans. Of course she does get big. Multiple people asking me about her. No one asked me about you.
58:37
Damian Dunn
Of course not. Did you tell them that they might be hearing from her a little more often?
58:42
Peter Dunn
Don't tip our hand, sir. Don'tip our hand. If you're a big fan of the Queen of Texas, let's just say that you'll be seeing a lot of her soon next as it relates to Queen of content. I had this idea. What if went across the interwebs and found housing, affordability, calculators put out there by lenders and compared them all to what we recommend and then shame them? I may just point out the difference.
59:10
Damian Dunn
Oh, okay.
59:13
Peter Dunn
Shame them. Anything else for you, dame.
59:19
Damian Dunn
No. You and I can just sit around after we're finished and chat for a while.
59:24
Peter Dunn
Yeah, absolutely. What will happen? I was reminded on my flight this week, listening to my playlist, heard a little E 40. Reminded me to tell you all the reason I closed the podcast the way I closed the podcast because one of my favorite performers of all time, Mr. E 40, Earl Stevens, in one of my favorite songs, he says the lyrics stay getting money. So that's why I say it to you. And so I give you that context to simply say to you, stay getting money. And.
