00:01
Peter Dunn
So you're thinking it's like, why wasn't there a podcast last week? I mean, it's a natural question for those that listen on a regular basis. They tune in, they go to wherever you get your podcast. And as you look at the library and the history, you'll notice there's a two week gap. And you're like, So what happened last week? Was Pete getting botox? Was dan hair plugs. Was Kristen out doing what she does, achieving all these things like what was going on? And the reality was I messed up and we didn't record. So I'm sorry. Fortune favors the brave? Now, I just tried to think of something interesting to say there. Will you ever think, Kristen, of the phrase fortune favors the brave? The same post Matt Damon bitcoin commercial.
00:56
Kristen Ahlenius
I haven't seen.
00:58
Peter Dunn
Boy, what is going I'm sorry. Generational gap is widening. I'm sorry, dame, will you ever think of the phrase fortune favors the brave? The same since the Matt Damon bitcoin commercial.
01:13
Damian Dunn
Was it brave or bold?
01:15
Peter Dunn
I can't remember. Fortune favors the brave.
01:19
Damian Dunn
Okay, I think I will just always tie that to the thing. If you would have bought, like, $10,000 of it when that commercial aired, it would have been worth, like, a buck 50 right now.
01:32
Peter Dunn
It's amazing how fortunate hello, Jeremiah. Jeremiah, I have got bad news for you today, buddy. You got a hard out at the top of the hour. Andy, good morning. Good to see you. Kristen, last weekend, did everything go the way you wanted it to? Everyone's waiting to know.
01:54
Kristen Ahlenius
No. It did.
01:57
Peter Dunn
This weekend is the weekend you've put in the work. That's the thing.
02:03
Kristen Ahlenius
Yeah, but sometimes things just don't work out.
02:07
Damian Dunn
But it can't be taken away from you, though. You put in the work, you did everything you were supposed to, and it just didn't work out. So you give it another shot.
02:14
Kristen Ahlenius
I appreciate the pep talk.
02:16
Peter Dunn
And in the words of The Talented Mr. Ripley, fortune favors the brave. All right, dame on the show this week. Have you ever seen The Talented Mr. Ripley? Kristen.
02:25
Kristen Ahlenius
No.
02:26
Damian Dunn
Is that one with Jude Law?
02:28
Peter Dunn
Yes, Jude Law is somebody beats a.
02:31
Damian Dunn
Snot out of somebody with an Ore ruin.
02:33
Peter Dunn
It an ore. Was I alive?
02:36
Kristen Ahlenius
That's what I always ask.
02:37
Peter Dunn
That's. Okay.
02:39
Damian Dunn
Yeah, that's a fair question.
02:41
Peter Dunn
I'm looking right now. I would assume 1999. You were alive in 1999, I was barely alive. I will note Jude Law is ridiculously good looking in the talented Mr. Replay. Tanned, trim, quaffed, listening. Yeah, check it out. Okay, let's start the show. We're starting with a game called Would You Rather the Financial Edition. Correct.
03:10
Damian Dunn
Indeed.
03:11
Peter Dunn
All right. And of course, everyone can weigh in on the comments here. I feel like there was a housekeeping note I wanted to note on here. Do you remember what it was? Dame? Was there something I was going to share?
03:26
Damian Dunn
No, I'm just Chuckling at Jeremiah's comment.
03:30
Peter Dunn
Jeremiah notes waiting on podcasts to come out just as reliable as when dad goes out for.
03:38
Kristen Ahlenius
Maya.
03:39
Peter Dunn
Amazing. Okay, let's do this darn thing, as the kids say. So Ollie and I share oh, Ollie and I share a Pandora account, but only one person can listen at a time. So when she's getting ready in the mornings, it's right when I'm usually writing or something here at the office. And so my music will shut off and it'll say someone else is listening. And this morning I was writing and I hit her up and I was like, hey, I'm listening. And she said, dad, I need four more minutes of scissor. She needed four more minutes of scissor. It just made me laugh. And I said, OK, I can't argue with that. You get after it. That's funny.
04:22
Damian Dunn
I don't even know who that man.
04:25
Peter Dunn
Okay, SZA SZA needs more vowels. I'm not with the I agree. Oh, hey, Jo. Hello. Here we go. Three, two, one. This week on The Pete the Planner Show, we answer your money questions. Here is how the show works. Email us, askpete@petetheplanner.com that's, askpet@petetheplanner.com and here's what will happen. I don't know. We might talk about your topic or we might pick a much better one. And this week we do just that. And by we, I mean yes in French. And I also mean we as in Damian Dunn, vice President of Advice here at your line. Hola, Damian.
05:02
Damian Dunn
Hola.
05:03
Peter Dunn
And bonjour to Kristen Ahlenius. What do we call you? The director of education. Magnate. Hello.
05:15
Kristen Ahlenius
Hello.
05:16
Peter Dunn
I don't know.
05:17
Kristen Ahlenius
I don't know.
05:18
Peter Dunn
This week on the show, we play everyone's favorite game show, and that is called Would You Rather the Financial Edition. That's what we're playing. Okay.
05:32
Kristen Ahlenius
Wow.
05:34
Peter Dunn
I know this is a radio show and there is no visuals, but the way we record the show is I can see both Kristen and Damian's faces from their own studios, and they looked rather unimpressed with that sound effect, like their faces didn't move, and I felt the embarrassment going through their bodies. So it's with that dame set up how we're playing this game.
05:56
Damian Dunn
Can I make a request, by the way, before we get started? Can you like an applause sound that you could instead of going with voice sounds? That way, when you're introing a segment or a game, you have that studio audience behind.
06:12
Peter Dunn
Let me see if I can pull that off. I think I've got it right here. Hold on for a second.
06:18
Kristen Ahlenius
You producing the show?
06:20
Peter Dunn
Yeah, I think I can do it. I think I can do it. Just give me a moment and we can do it. Okay, so you get started, explain the concept, and I will get some applause.
06:29
Damian Dunn
All right, here we go. The concept. Everybody's played the game would you rather probably with rather potentially awkward questions, maybe even risque questions occasionally if you're a teenage boy. However, we are playing the financial edition of Would you rather? We're going to be looking at some very interesting scenarios, and frankly, Pete and Kristen are going to have to pick the best of those two options. And then I will be the voice of reason. If I need to break a tie, I will do that. Or I'll just tell them both they're wrong. If they are both indeed wrong. All right, Pete, you are still working away. Are you prepared to I'm prepared.
07:13
Peter Dunn
I'm working it out. I'm good.
07:15
Damian Dunn
Play the first round of financial. Would you rather all right, here we go. Would you rather take a unsecured personal loan or a home equity loan? Unsecured personal loan or home equity loan?
07:32
Peter Dunn
I mean, age before beauty. So that means I go first, right? Wait, how do we do this? Kristen, you go.
07:39
Damian Dunn
Yeah.
07:40
Kristen Ahlenius
That was good. So tough, I think, for me personally, and I'll explain it after pete, you give your answer. I might do the home equity loan, but I think for most scenarios, I would say the personal.
08:00
Peter Dunn
Okay.
08:01
Damian Dunn
Okay. Pete, the ball is in your court.
08:05
Peter Dunn
Can I ask a follow up question? Like, how much work is that how the game show works?
08:12
Damian Dunn
You can, but I have every right to say.
08:19
Peter Dunn
Loan. Personal loan. I mean, the interest rates are going to be higher, but I feel like the risk of catastrophe is lower, so I'm going to go with personal loan.
08:31
Damian Dunn
Kristen, would you care to give some explanation behind your answer?
08:36
Kristen Ahlenius
Sure. So for someone like me, I know that my personality is that I need some additional push. So if I found myself in a position where I needed to eliminate that liability, I think that if it was a personal loan, I would feel less pressure to get myself out of that position. Is it a risky move? Absolutely it is, but my personality specifically, I think it would be a calculated risk, but by and large, I would agree that the personal loan would be what I would pick.
09:11
Peter Dunn
Do we know how much higher interest rates are on personal loans than a home equity loan? I mean, is it a couple point gap, or is it more than that?
09:19
Damian Dunn
I'm not I think it's more than a couple be I would think it's probably, like, four to five, but I'm just making speculation at that point.
09:30
Peter Dunn
Okay.
09:32
Damian Dunn
The correct answer, by the way, is personal loan. Sorry, Kristen.
09:36
Kristen Ahlenius
Yeah. Wow.
09:38
Damian Dunn
All right, next question. Balance transfer or a loan from a family member to get credit card debts under control?
09:47
Peter Dunn
Oh, that's a good one.
09:49
Kristen Ahlenius
That's hard.
09:50
Peter Dunn
Wait, can I go first this time? Balance transfer or a loan? Oh, I got to go with balance transfer. I think balance transfer, both of I had to give my explanation later, probably because we had to get the answers out. I'm going balance transfer. Dame or Kristen, what do you got?
10:13
Kristen Ahlenius
I don't like family member loans almost ever, so I would probably pick the balance transfer.
10:20
Peter Dunn
Yeah. For me, both of them are a dangerous exhale where you're just, like, solve that debt problem, but you didn't. You really kicked the can down the road. I will say that consistent and constant and perpetual balance transfers are one of my bugaboos. They really bother me, and I feel like it's the ultimate in thinking you're solving a problem when you're actually not. And so I don't think people think they're solving a problem when they borrow money from family or friends, but they compromise themselves in a different way.
10:59
Damian Dunn
Yeah. I think the balance transfer can be the starting point for solving an issue, getting a little momentum going if you are committed to a plan to get rid of that debt, but otherwise, if you're just using it to relieve some stress, you are apparently running a vacuum in the background. If what it sounded like.
11:21
Peter Dunn
I'm trying to get the laughter soundtrack up, and it would not work.
11:25
Damian Dunn
Yeah. I would rather do the balance transfer than the personal loan. Clearly.
11:34
Peter Dunn
Okay, so maybe can we deviate just for a moment here? Is there any scenario that a loan from a family member makes sense? I mean, I feel like we've dabbled in this before, but can we give an example? Kristen's not in her head, so that just you can't nod your head and then not give an example. Sorry, Kristen, you clearly have something at the tip of your brain here. What is the perfect example of when to borrow money from family?
12:00
Kristen Ahlenius
Well, there was a situation where I loaned money to someone, and I don't know how to give any more details with that without giving something away. But in the situation that I was in, we had a really good relationship. This person had a plan to repay. They just literally, through no fault of their own, needed some cash that they didn't have access to immediately, and it worked out really well.
12:32
Damian Dunn
There we go.
12:35
Peter Dunn
I did it. Someday I'll do great things. All right. Okay, dame, we do not have time for one more of these. We're going to do after the break, we will pick up where we left off on would you rather these are tricky so far. Are they all debt ridden or are they not?
12:52
Damian Dunn
No, I think they get trickier, actually.
12:55
Peter Dunn
Seriously?
12:56
Damian Dunn
Yeah.
12:56
Kristen Ahlenius
Yes.
12:58
Peter Dunn
All right. They get trickier. A quick note. I know our contest for the year of Stock Picks has you saying Twitter would be the biggest loser of the do not. Of course we're upset for all the layoffs going on at Twitter for those families. Do you officially win that category? How do we even get our head around that?
13:21
Damian Dunn
That's a fair question.
13:23
Peter Dunn
All right, so we need to consider that in the next month and a half, because we're going to have a winner of who's the Biggest Loser.
13:31
Damian Dunn
Yeah.
13:34
Peter Dunn
Fantastic. Speaking of coming up after the break, more of Would You Rather? That's right here on the Pete the Planner radio network. Which is a thing I just made up. It is not a thing. But thanks for joining us. We'll be back with more of would you rather? Right after this. Congrats on the worst outro in the history of the radio show.
13:58
Damian Dunn
Peter, I thought it was pretty aggressive starting the outro at eight minutes.
14:10
Peter Dunn
Oh, this is going to be good. And so we can do all sorts of things.
14:18
Damian Dunn
The next question on would you rather Excellent.
14:21
Peter Dunn
And I can read it. Okay, I got it.
14:28
Damian Dunn
Bachelor number two.
14:35
Peter Dunn
That was a little hot.
14:39
Damian Dunn
Just a scotch.
14:41
Peter Dunn
Good game. Hard game. And now I'm nervous that the next ones are going to be worse.
14:47
Damian Dunn
I think you're going to like it. I think you're going to like it.
14:49
Peter Dunn
I like this game. Are any equity centric?
14:53
Damian Dunn
Do we get any equities, some savings, investing ones?
15:01
Peter Dunn
I was having a conversation this week with a friend from college about college, because now we have kids that are starting to look at college and we're talking about a particular college that prices their education around $57,000 a year, but relatively easily. You can get that under 20. And I was like, why don't they just list that? Why not go big in the marketplace and say, we're not going to mess around with your money. This is what it costs to go here. Are they in fear of losing prestige or do they get some people to pay top dollar and they're afraid of losing that? What's the deal?
15:45
Kristen Ahlenius
That kind of reminds me, I don't know, it was probably a decade ago, but do you remember when JCPenney had like, a new CEO and they did like, we're not doing coupons anymore. These are just the prices. And that did not last very long. So there must be some kind of marketing genius behind that I don't understand.
16:03
Peter Dunn
That's interesting.
16:05
Kristen Ahlenius
You don't remember?
16:06
Peter Dunn
No. How are we to a point where I don't remember something? Was I not born yet?
16:11
Damian Dunn
Were you alive? Pete?
16:13
Peter Dunn
By the way, you're the only person in their twenty s that in the history of the world has ever made a JCPenney reference.
16:19
Kristen Ahlenius
I'm sorry.
16:20
Damian Dunn
I was going to say I don't think there's a JCPenney within 20 miles of Carmel.
16:26
Peter Dunn
I thought they're out of business, aren't they?
16:28
Kristen Ahlenius
Where do you think Midwestern families get their Christmas pictures taken?
16:32
Peter Dunn
That's a great question.
16:34
Damian Dunn
Downtown by the carousel.
16:37
Kristen Ahlenius
That's a valid point.
16:38
Peter Dunn
Against a brick wall in a public park. In Carmel.
16:41
Damian Dunn
Yeah, in Carmel.
16:43
Kristen Ahlenius
Okay.
16:45
Damian Dunn
One of the five dozen roundabouts on 116th street.
16:51
Peter Dunn
I'm going to bring the show back better than I took it out. And we are going to pick right up with the game show and coworker Ashley notes. There is a Jcpenois in Castleton. In Castleton. All right.
17:06
Kristen Ahlenius
Thank you.
17:07
Damian Dunn
Whatever.
17:08
Peter Dunn
Okay. All right, here we go. In three, two, one. Back on the Pizza Planner show. Joining us. If you are joining us, I should say for the first time in this week's show, we're playing a little game that the locals like to call would You Rather? The financial edition. Our host is Damian Dunn. Damian, let's take it away.
17:30
Damian Dunn
Thanks, Peter. Our next question for our two contestants, Kristen and Peter, would you rather buy a used car or lease a new one if the payment is equal.
17:43
Peter Dunn
Okay, so this has got me wanting to ask follow up questions.
17:48
Damian Dunn
I'll allow it.
17:49
Peter Dunn
Okay. Do we know how long the purchase contract is or is that the part of the question like, you're not going.
17:58
Damian Dunn
To three year lease, five year repayment.
18:01
Peter Dunn
On the used oh, he made it even harder. I'm going buy the used car. Five year, same payment.
18:09
Kristen Ahlenius
Kristen, I'm going with the lease. I mean, we talked about it, I don't know, last week or the week. Just I just am a little risk adverse and I think that's a calculated less risky move for a lot of people right now.
18:27
Damian Dunn
I believe there would still be some risk involved knowing that you're going to have to do something in three years with the end of a lease.
18:33
Kristen Ahlenius
Yeah, but that used car might not make it three years.
18:38
Damian Dunn
Well, buy a good used car. I'm not going to names, but buy a good used car.
18:44
Peter Dunn
What is a good used car? You were the car guy on our show. Here. What is a good car?
18:51
Damian Dunn
A Toyota. But go buy a used Toyota and it will run for.
18:59
Peter Dunn
It. I mean, this was like last week's topic, but since that show didn't get recorded because I'm a noob, no one heard it. But yeah, last week our takeaway was like, now could actually be a reasonable time to lease a car. But I don't know why on this question, I went straight to buy because it's the payment was the same. I think that's why I changed.
19:21
Damian Dunn
I specifically made sure the payment was equal just to make you think a little bit harder on that one.
19:27
Peter Dunn
Because typically the payment is not going to be the same. Because let's say that in your example, you're leasing a new $40,000 car you would be buying, and the math is not going to work here, but like a $22,000 car to make the payment the same.
19:45
Damian Dunn
Yeah, it's a brain teaser.
19:49
Peter Dunn
Look at you. Look at you.
19:52
Damian Dunn
I know.
19:53
Peter Dunn
Okay, next on would You Rather Here we go. Hold on, I got to get the music on.
20:01
Damian Dunn
Right now. Would you use emergency savings or a 0% offer for a home repair, like a water heater?
20:11
Peter Dunn
Want everyone to sit on this one for a little bit. Kristen, you go first.
20:19
Kristen Ahlenius
I think that I would probably prefer to hold the cash, considering where we're at. I'm not normally in favor of a 0% offer, but I think, again, given where we're at, I might lean toward 0%.
20:39
Damian Dunn
Judges.
20:40
Kristen Ahlenius
Judges.
20:43
Peter Dunn
I would say paid in cash. A bird in the hand is worth two in the bush, as some people say. I was going to say the kids, but the kids definitely don't say that. Right?
20:59
Damian Dunn
I thought you were going to say Matt Damon in his Next Bitcoin commercial.
21:03
Peter Dunn
Oh, my gosh. Fortune favors the brave. Kristen the answer to this question is use the emergency fund. Use the emergency fund. That's what it's for.
21:15
Kristen Ahlenius
We're in a recession.
21:18
Peter Dunn
But I have an emergency fund. What's more of an emergency than having an appliance break?
21:24
Kristen Ahlenius
Yeah, but maybe this comes back to the behavior, and I like to almost force myself to make good decisions. So if I have this 0% monthly payment type deal, I might be more inclined to do that versus immediately replenish my emergency savings account. And maybe I'm a little biased.
21:49
Peter Dunn
I will say one of the things that has driven me the craziest in my career, and I can't tell you too much of the details of the story, but I was sitting with this couple talking about their finances, going through the finances, asking about debt, and the guy was very like, oh, we're fine. We don't need to do it. And it got to this place where he's like, oh, but we do have $80,000 in 0% interest loans. And I was like, Dude, you have $80,000 in debt just because it's a 0%. You're getting tricked here. And he's like, yeah, but it's a 0%. He's like I'm like, no, you owe the world $80,000. He's like, I don't see it that way. And I'm like, Well, I don't tell you how to do his job.
22:36
Damian Dunn
I know. I would love to say, well, how do you see it? But that just spirals into more craziness.
22:43
Peter Dunn
I mean, I guess. Kristen to your point, you get a little bit of flexibility there. You can make payments, and then when things improve, you can move money over. I don't know.
22:52
Damian Dunn
What if you paid the 0% out of your emergency fund month by month?
22:56
Peter Dunn
Yeah, that's what I was assuming a person would do. Kristen I assume that's what you assume what a person would assume?
23:02
Kristen Ahlenius
Yeah, assume. That is what I would just I feel very cautious about depleting any cash. Right. I'm also I'm a worrier by nature, so maybe the two of you aren't as worried as me.
23:19
Peter Dunn
Oh, I worry all the time. Do you think these bald heads come with security? Why do you think we have no hair?
23:25
Kristen Ahlenius
Oh, I thought it was the opposite.
23:27
Peter Dunn
Don't ask two bald men if they worry. Yeah, we used to. Here's what I worry about. My wife gets sick of me, and I have to take this bald head out into the marketplace and find companionship. That's what worries me. Kristen that's fair.
23:44
Damian Dunn
Nowadays, though, Pete, the bald heads are much more accepted. I think it's the faces that we have to worry about.
23:51
Peter Dunn
Yeah. Look at this face. Kristen. I can't take this face out. To find companionship, I'm going to have to find it online in the metaverse.
24:01
Kristen Ahlenius
The metaverse. Yeah. That's good.
24:04
Damian Dunn
Start working on your meta emoji or whatever they're going to be called.
24:07
Peter Dunn
All right, Dame, how many do we have left in the would you rather?
24:12
Damian Dunn
I have three more.
24:13
Peter Dunn
Okay, here we go.
24:15
Damian Dunn
Next question. For adequately contributing to your 401K, would you rather put additional savings in a Roth IRA or an HSA?
24:32
Peter Dunn
Okay, this is a tough one. I feel like I'm up first on this Roth. I'm based this on my age and circumstances. I've got kids that I could use it for college. We are relatively healthy other than my aesthetic, so I'm going Roth. Kristen, I'm sorry.
25:03
Kristen Ahlenius
I think this one's really tough, but in the world that we live in, where medical care seems to increase exponentially, I'm leaning toward HSA. But it's so hard because the Roth IRA used to be my favorite product ever or favorite vehicle ever. But I think if push comes to shove, I might choose the HSA right now. Anyway.
25:29
Peter Dunn
Dame, you're not the mean, but you are the authority in all things, including vehicles. What say you?
25:40
Damian Dunn
I really struggle with this one. I've probably answered it both ways twice before the show started, and right now I'm leaning towards HSA. I really think that is probably the most advantageous location specifically for my family right now in our circumstances, but I don't think you can go wrong with either of them. Honestly. You're picking between two winners. Just make sure you're putting that money away.
26:11
Peter Dunn
All right, coming up after the break, here's what we're going to. We have two more to go. Dame on would you rather yes, two more financial would you Rather. This is a well thought out game. Clearly, someone put time into this radio show this year, and I appreciate that because it certainly wasn't me. All right, coming back, would you rather right here on the Pete the Planner show. Damn, this is well done. Is this Kristen's game?
26:37
Damian Dunn
Who came up kristen's idea we came up with it's about 50 on the would you rathers I came up with another one here.
26:46
Peter Dunn
Yeah.
26:49
Kristen Ahlenius
There'S one that we couldn't come up with a good other. Yeah. But I really wanted to figure out a way to use it.
26:59
Peter Dunn
Give me the front end and let's see if I can contribute to the show this week. All right.
27:03
Kristen Ahlenius
It's an arm.
27:07
Peter Dunn
Oh, okay.
27:09
Damian Dunn
Would you rather take an arm or a leg? Exactly.
27:16
Peter Dunn
Who. Let me think about that for a second, because I think that'd be an interesting one to add. I agree. That's a really good one. Okay, here we go. Arm or don't buy the house or continue to rent.
27:34
Damian Dunn
All right.
27:35
Peter Dunn
This is why I get paid the big box. This is why my name is all over billboards. Oh, guys, can I share something with you?
27:43
Kristen Ahlenius
I suppose.
27:45
Peter Dunn
I'm not sad and I'm not humbled, because this is just the way things work. I don't think I'm doing the television commercials this year for college 529 plans.
27:55
Damian Dunn
Wait, didn't they just do that.
27:59
Peter Dunn
High likability factor?
28:00
Damian Dunn
Yeah.
28:01
Peter Dunn
Who's more likable than me in the state of Indiana?
28:04
Damian Dunn
Damien kristen.
28:08
Peter Dunn
Kristen. Wait. Hold on a second. Kristen, are you doing them?
28:12
Damian Dunn
That'd be the oh, my.
28:24
Peter Dunn
They haven't they haven't reached out. And so I can't say I don't really care. I always enjoyed it. It's a challenging afternoon, right, to try to be good at something I don't do. And I actually never watch the commercials. I don't watch much TV, and I don't care that they're out there. But it's almost like at some point, someone made the decision of, we're out of the Pete the Planner business. And that stings a little bit. Yeah. But I get it. I mean, at some point, this radio show will be canceled. You know what mean?
29:01
Damian Dunn
Yeah. Podcasts will live on forever, though.
29:04
Peter Dunn
At one time at the station of where our show is, the flagship station of which our show appears or whatever airs. I had a good buddy who was in management there, and I remember just always talking to him like, hey, when the day comes, because I assumed he would still be there when we would lose the show, I need you to just text me. You're fired. And that's it. That's it. I need a text. I want it to feel, like, really monumental. But now he's not there. So now it could get weird. When this show ends, and it will end at some point, they're going to move on. Or better yet, maybe I'll quit before they fire us.
29:51
Damian Dunn
Do you think maybe they just stop playing it on Sundays? They wouldn't tell you. You keep sending it in and it just wouldn't be on there for something.
29:59
Peter Dunn
It's funny you mentioned that dame. That's what the Indianapolis Star did when they stopped running my column, is I sent a column in. It was supposed to run on a Sunday. It didn't run. And I emailed my guy and he was like, oh, yeah, we ended your column. And I was like, okay, thanks for that. And then, whatever. Good times. This is a fun topic. Public failure is fun.
30:27
Kristen Ahlenius
Yeah.
30:29
Peter Dunn
I think the goal will be to quit the show before we get fired. Right.
30:36
Damian Dunn
Because you're running a race with an undetermined finish line. At that point, I guess it's whatever you say it is.
30:44
Peter Dunn
It's like a Dutch auction. Yeah.
30:47
Damian Dunn
Do we go out with a bang with things that need to be censored and beeped out on that last segment? Okay.
30:55
Peter Dunn
I'll say this. I'm seeing a charity event this weekend, this Sunday morning, which I look forward to. I, like, helping the charity. I've not done one since last year. At this time, the same charity event feel like I'm a different person since then. I don't know if I'm going to be charming in front of a thousand people this year. Last year I could still hold it together. This year, I don't know. I don't think I can charm a thousand people on a Sunday morning.
31:21
Damian Dunn
You better start working on that at home. If you can charm Mrs. Planner, you're in good shape.
31:27
Peter Dunn
That's why I said I don't think we're in good shape. This oh, man.
31:35
Kristen Ahlenius
Along those same lines, I had someone yesterday tell me that she noticed that I was really quick on my feet thinking, and I was like, well, you see, there's this thing called the pizza planner show.
31:48
Peter Dunn
I will say Dame showed out here in the last week here at work and he was put in an incredibly uncomfortable position and was forced to think on his feet. And experts say the reason is because he's forced to do so every week on the radio show. Dane, what say you?
32:05
Damian Dunn
I think I've been trained for that moment for the last three or four years of my life. It all came full circle when I love it. The Internet shut down and left me on a zoom call with half a dozen employees and a very large employer.
32:23
Kristen Ahlenius
Hey, Dave, say something funny.
32:25
Damian Dunn
Yeah.
32:29
Kristen Ahlenius
That'S good.
32:30
Peter Dunn
That was me. Okay. All right, let's do the show because Jeremiah, I have a heart out at the top of the hour. In three, two, one. Back on the Pete the Planner show. We're playing a little game today called would you rather the financial version. Damien Dunn is today's host. So, ladies and gentlemen, Damien Dunn.
32:55
Damian Dunn
Our next question for our contestants, would you rather take out an adjustable rate mortgage or not buy the house?
33:05
Peter Dunn
Oh, man, this is tough. It's actually not tough. I think this is the easiest one, but I think it's easiest one for me personally, but I think in the marketplace it's easy the other way. So I would not buy the house. Actually, now that I say that, I feel like I'm a tough guy. Kristen, I think it's your turn to go first.
33:31
Kristen Ahlenius
Ken, I know that part of the game is not knowing any additional details, but it's a how many years until my first interest rate adjustment? Damien?
33:40
Peter Dunn
Three.
33:41
Damian Dunn
We'll say three. Yeah.
33:45
Peter Dunn
Five, four, seven.
33:52
Kristen Ahlenius
I would have a really hard time being an advocate for buying the house, but I think the counterargument to that is, and these sound like famous last words, can it get worse? I don't know.
34:07
Peter Dunn
Yeah. I have a lot of faith in my ability to figure stuff out and I think that's a recipe for disaster when an adjustable rate mortgage gets involved. I don't noting are we noting the times we live in Dame? Like, are we noting that interest rates are at seven and a half percent? Because not to cause any massive mistakes for anyone here, but interest rates. Got nowhere to go but down. No, not yet.
34:46
Damian Dunn
Although this morning I did see that the 30 year had dropped under seven in some areas.
34:59
Kristen Ahlenius
The Fed just raised interest rates, like, two days ago.
35:01
Damian Dunn
Again, I can't explain it, Kristen, I'm just reading the news.
35:04
Peter Dunn
Well, would You Rather is like, the Fed starts to lower interest rates the first time they go back down. Do you buy a house then? Do you get an Arm then, or do you wait to buy a house because it's a downward trend? Isn't that a better would you rather on the first tick down?
35:29
Damian Dunn
Potentially. I think there's an argument to be made that if you want the house and you want to use an Arm, you look at the contract and make sure that you can pay whatever that max rate jump is for that first time. Maybe you could use an Arm and get away with it. But I don't think we're going to see a reduction interest rates in the next 18 to 24 months would be my guess.
35:58
Peter Dunn
Whoa, whoa. This first time we've heard this prediction, breaking news right here on the Pete Planner Show. Dame says no rate reduction for 18 to 24 months. Are you putting that out there or are you just falloating? It like, what are we doing? What is that real?
36:15
Damian Dunn
I might have listened to a well known economist a week or two ago that kind of went through what he anticipates and what actually different members of Fed boards have put out there for what they think interest rates are going to do over the next 1218 and 24 months. And I think it's going to bump up a little bit more slower, half a point here, half a point there, and then they're going to hold steady for a while. And the thing we have to remember is that big macroeconomic changes like this don't take effect immediately and it's going to be a while to see how this all washes out. So even if they get to a point where they think they've raised them enough, they're going to sit on it for a while. It's not going to be, we ran it up and now we're going to start backing it back off quickly thereafter.
37:05
Peter Dunn
All right, what is next on Would You rather the financial?
37:10
Damian Dunn
Would you rather pay down debt or sit on cash right now?
37:19
Peter Dunn
Well, here's the problem there. If it's like consumer debt, like on a store credit card or a major credit card, it's at an increasing rate. I mean, it's going to be at a pretty high rate and then your cash isn't. I mean, although it's earning more than it used. Oh, it's tough. It would depend on how much cash I had in excess of what I'm paying down. Kristen, you answer first.
37:46
Kristen Ahlenius
I think that you have to have some balance here because you need to be a little bit more aggressive and flex that debt pay down muscle. But as several of my answers have alluded, I'm very pro cash right now. Just I'm very risk adverse. So I don't know that I would encourage a very aggressive debt pay down or like depleting cash to pay off a debt if you have it available. I think it'd be really hard for me to give that recommendation right now.
38:16
Peter Dunn
I think if you're paying the credit card payment with your income, I could see sitting on the savings. But if you're dipping into your savings to pay the credit card, I think the answer is different because I don't mind reducing consumption and spending to handle that issue. I think that makes sense. It's where you haven't changed your consumer behavior to allow for carrying the debt. I think that's like one of the sneaky things about debt is there's the idea of carrying the debt and then there's reducing your consumption to carry the debt. And reducing your consumption to carry the debt is a very healthy activity which will lead to getting out of debt. But it's not a Circle Venn diagram here. There is not always overlap between those two groups.
39:15
Damian Dunn
I think you only dip into the cash up to the amount that you can replenish in twelve months.
39:24
Peter Dunn
Look, I'll say I actually wrote a column about it this week. I came across $500 in a very strange way that was sent to me here in the last couple of weeks. That was just sort of it felt like magic money, like finding $10 on the street or getting a gift card. And it was like, oh, and previously I'm a big money burn hole in my pocket on found money. Money like that. If I get a gift card from my mom for Christmas dinner, by dessert, I have ordered a sweater, whereas my wife has a drawer at home full of gift cards over the years. So this $500 to me, I was like, okay, wait a minute, I saved it. And I'm at a place where I'm trying to get cash heavy, not out of the market, by the way, people, but in lieu of spending, I am saving because I'm not worried about parting with emergency savings because of an emergency, but I just feel better that it's there and I feel better that there's more.
40:25
Peter Dunn
That's how I feel about the next couple of years.
40:28
Damian Dunn
Are we ready for the last question?
40:29
Peter Dunn
Oh, yes. Let me get the music. Ready for the last question. Okay, here we go.
40:37
Damian Dunn
Peter, you're age 55.
40:39
Peter Dunn
No, I'm not. I'm 44. I just look, 55, sorry for this question.
40:43
Damian Dunn
You're age 55. Do you continue to DIY your financial sorry, your investment management, or do you hire a financial advisor?
40:57
Peter Dunn
I mean, come on. It's obvious of what I would do. Maybe, but yeah, actually, you know what? This is a more interesting question than you might think because I am no longer an investment advisor and I'm barely a reasonable financial mind at this point. I have a financial advisor. But you're saying if I was DIY.
41:22
Damian Dunn
At 55, maybe I shouldn't have put your name in front of it. The average person age 55, retirement is just over a couple of hills.
41:33
Peter Dunn
That was nice. I like how you painted that picture. You hire a financial advisor. It's foolish to try to go your own at 55, especially with Social Security choices on the horizon. Just over three hills.
41:48
Damian Dunn
Kristen.
41:50
Kristen Ahlenius
I agree. I think that you hire the advisor.
41:54
Peter Dunn
Circle gets the square. That's a Hollywood Squares reference. Have you ever seen that show, Kristen?
41:59
Kristen Ahlenius
Yes.
42:00
Peter Dunn
What?
42:03
Kristen Ahlenius
I used to show network with my grandparents.
42:06
Peter Dunn
Don't bring your grandparents to this now, Damon. I feel worse. Coming up after the break, the biggest waste of money of the week. We hope you enjoyed first edition of would you rather the financial edition right here on the Pete the planner radio show.
42:25
Kristen Ahlenius
Okay.
42:25
Peter Dunn
Pete, I know you have go ahead. Yes. You bring up your grandparents in reference to dame, and I making a pop culture reference.
42:34
Kristen Ahlenius
Sorry.
42:35
Peter Dunn
It's like Pete. Didn't you date Judy Garland? Like, no, I'm not that I'm not I enjoyed wizard of Oz, but she is not a contemporary of mine.
42:50
Kristen Ahlenius
So the housing one, I can't let that one go. The Arm or do you not buy the house? And my question quickly is that we so often are like, don't time the market. Don't time the market when we're talking about 401K contributions, investing for retirement. And if someone is in a position where they can objectively afford to buy a house, is there a bad time to buy if they can objectively afford it?
43:25
Peter Dunn
Okay, yeah. Great question. So an arm. But if Arm is the strategy of you think the interest rates are going down? I think it's a reasonable thing to do. If you get an Arm because you think your income is going up and you're going to be able to afford a house, then that's bad. That's the way I think of it.
43:46
Kristen Ahlenius
I guess I was already in the first camp of saying that we think that in the next three, five, seven, whatever years, the interest rates, we would have an opportunity to refinance. So maybe I wasn't looking at the whole picture when I was thinking about.
44:05
Peter Dunn
All right, let's get this let's do ciento.
44:10
Damian Dunn
Jeremiah, I do like all the participation the viewers have given us.
44:17
Peter Dunn
I know. Yeah. We call it engagement in the biz called engagement in the biz in three, two, one. This week's biggest waste of money of the week right here on the pizza planner show is the Apollo stress management thingamajig. Sorry, I got distracted. The Apollo stress management wearable mini wearables track your health. But Apollo is designed to actually improve it. Can I get a quick time out here? I love ad copy. I love ad copy. I always imagine don draper standing in front of a room with a flip chart showing ads and storyboards. And I continue. The Wellness accessory utilizes soothing touch therapy to help reduce stress and enhance relaxation, sleep, focus, and recovery. It can be worn on the wrist or ankle or attached to your clothing and acts as a hug for your nervous system, engaging with your sense of touch by sending silent, soothing vibrations.
45:28
Peter Dunn
Or you could even put it in your pocket. I added that. I'm sorry. Developed by neuroscientists and physicians, the technology is proven to improve heart rate variability while rebalancing your nervous system to help with the mind transition from fight or flight to rest and digest. I love coffee. I love coffee. Over time, your body learns to recover from stress more quickly so you can relax, sleep better, and find deep, meaningful focus. The Apollo neuro app can control the wearable to switch between modes to keep you focused at work, help you recover after a workout, and drift off to sleep at night. Like most practices, consistency is the key. So the more you use it, the better it works. Okay, guys, and by guys, I mean guy and gal. What does it cost to have your stress managed by a wearable?
46:27
Kristen Ahlenius
Too much?
46:30
Damian Dunn
Call me skeptical, but hello, skeptical. I don't see how another thing I'm going to put on my wrist is going to reduce my stress.
46:43
Peter Dunn
It's several hundred and 99, $399. I think dame's point is the point here. It's like maybe some exercise, maybe some like I don't I mean, vibrating on my wrist doesn't make me feel good. I don't know.
46:59
Damian Dunn
I can't believe it's not a monthly subscription. Frankly, it looks like something that is just bound to come with some sort of subscription to track your stress levels, all sorts of stuff.
47:12
Peter Dunn
I think it's safe to say, and I'll speak for myself, you all can nod or whatever last three years have been stressful. They've been pretty bad. The idea that strapping a vibrating thing on my arm or sliding it into my front pockets doesn't seem like it solves the problem to me. There's just no way they can tell you, like, change your brain for fight. The copy is beautiful. I just think that's a giant waste of money.
47:44
Damian Dunn
Financial. Would you rather fourth segment edition. Would you rather have one of those or one of those giant reclining massaging chairs?
47:51
Peter Dunn
Yeah, giant reclining massaging chair. I'll say this and I put this out there to the Apollo. Send me one of these. I will test it us. You want it to yeah.
48:07
Damian Dunn
I will write a beautiful review if I am wrong.
48:11
Peter Dunn
Okay. Send us $1,200 worth of wearables. That's three wearables for the crew here. And we will be honest. And if it is great commercials for life, but I think I just broke paola every year at the radio station. Damien knows this. Kristen, you don't know this. I can't endorse things that I've been given for free or paid to promote without clearing it with the radio station because there's, like, a big thing back in the 90s where people did that. So Apollo don't send it to me. Dane, what's in the news this week?
48:46
Damian Dunn
Offering neither a window view nor easy access to the lavatory, the middle seat is, indisputably the least desirable spot to sit on a flight. In fact, only 0.6% of more than 7500 voters polled prefer, or perhaps more likely accidentally voted for the middle seat, according to a recent social media poll by Virgin Australia. That number might soon go up if the airline scheme to get passengers to willingly book the dreaded middle seat is a success. Virgin Australia has launched a middle seat lottery, a special raffle worth about $145,000 US. And it's only open to those who sit in the middle seat voluntarily or involuntarily on a flight from now until April 2023. Any Velocity frequent flyer member age 18 and older who has seated in the middle seat can use the airlines app to enroll in the lottery. Prizes, you ask? Of course there are.
49:41
Damian Dunn
They'll be awarded to the winner of the lucky draws. Among the innovative gifts up for grabs are a full day helicopter, pub crawl, a two night holiday in some town in Australia, including flights, accommodation and a bungee jump.
49:59
Peter Dunn
Talk about stress. Here's. What? I don't what? Why incentivize people to sit in the middle seat? Just stick people with the middle seat. Who cares?
50:07
Kristen Ahlenius
That happens to me every time. Because I don't pay for my seat.
50:12
Damian Dunn
Isn't cheap publicity, though. I mean, they're getting lots of run for $145,000 US.
50:20
Peter Dunn
Lots of publicity? They're on a dumb podcast right now. This is the worst thing that's ever happened to Virgin.
50:26
Damian Dunn
I had to find that story somewhere, Pete. I didn't just materialize. I don't know. They're getting it. So it was all over the news.
50:33
Peter Dunn
So what you're saying is 145,000 plus the bungee jump and a walkabout. The expenses for that is just a PR spend cheap advertising because there's really no benefit. There's no benefit to the airline other than the PR, because it's like, who cares if someone wants to sit in the middle seat or not? The plane's leaving. Get on and eat your peanuts. Unless someone has a nut allergy in row 34 A.
50:59
Damian Dunn
That's biscoff.
51:01
Peter Dunn
What else is in the news?
51:03
Damian Dunn
The labor shortage has a lot of businesses struggling to find employees, but a Miami chickfila owner operator may have discovered the secret sauce for staffing.
51:12
Peter Dunn
Polynesian sauce.
51:14
Damian Dunn
Amen. Amen. Justin Lindsay's recipe for attracting employees was his idea to switch his employees to a three day, 14 hours work week not too long ago. So three days, 14 hours a day.
51:29
Peter Dunn
Oh, 14 hours a day. That's where I was.
51:32
Damian Dunn
Yeah. It was poorly written. I should have adjusted that before I read it.
51:35
Peter Dunn
Yeah. Okay.
51:36
Damian Dunn
Not too long ago, business was booming for Lindsay but his employees were getting burned out. He says some of them were working 70 hours a week. So earlier this year, he overhauled weekly schedules. He divided a staff of 38 into two groups and alternated weekly schedules into three day blocks of 13 to 14 hours shifts.
51:54
Peter Dunn
That's what nurses and doctors do. Right. And firefighters?
51:58
Damian Dunn
Firefighters are 24 on, 48 off.
52:01
Peter Dunn
Yeah, I'm saying, like, aggressive hours. So an hourly fast food worker that's something attractive. Is 14 hours a day for three days in a row.
52:17
Damian Dunn
Apparently. We thought were going crazy with four day work weeks, but here's, three days a week, 14 hours a day. Does it appeal to you at all?
52:28
Kristen Ahlenius
Yes.
52:30
Peter Dunn
Okay. It's Millennial time sparring. Kristen alanius, we don't have that much.
52:36
Kristen Ahlenius
Time left, but I know a lot of people who work, like, 312 or four ten s that really like that. I think it might be incentivizing.
52:49
Peter Dunn
I want shorter weekends because I like to work. I don't know. My family's fine sometimes, but I like being heat in my office doing things. Am I crazy?
53:02
Kristen Ahlenius
The same amount of hours.
53:04
Damian Dunn
I think it'd be really tough at a Chickfila. People are up, moving all the time. 14 hours on your feet with minimal breaks. I'm sure you've got certain ones you have to take, but that would be.
53:16
Peter Dunn
Tough by the 13th hour. It's certainly not your pleasure.
53:19
Damian Dunn
No, it's all your pleasure.
53:23
Peter Dunn
That's interesting. And here's the other thing about that. At that point, you're eating three meals at Chickfila, which is incredibly delicious and arguably a bad health decision, which then makes your life worse. Right. They have fruit.
53:44
Kristen Ahlenius
Right.
53:44
Damian Dunn
You've got the next four days to work out.
53:47
Peter Dunn
Okay, Kristen, so you're suggesting someone who's working a 14 hours day at Chickfila chooses fruit to solve their problem?
53:58
Kristen Ahlenius
I take it back.
53:59
Peter Dunn
That's all we have time for this week. Sending you good vibes? Because good vibes are all that's in the budget. I'm Pete the planner. This is Pete, the planner. Ciao. All right, that's it. I was going to make a orange. You glad you're not working five days a week orange because it was a fruit cup. I couldn't get it out because we ran out of time. What a bummer the people missed out on that. Now the podcast people got it, but the radio people are like, you know, I could have used another joke. I'm never listening to that show again. Too bad they got fired. Boy, oh, boy. Okay. Well, this was something.
54:36
Damian Dunn
Indeed.
54:37
Peter Dunn
I liked that game. Could we do more games?
54:40
Damian Dunn
Yeah, we're going to have a little brainstorming session on what other games we can figure out.
54:44
Peter Dunn
Yeah. Kristen, not only am I asking you to do your normal job, travel to Chicago to do your job, but you also need to continue to do high value production on this radio show.
54:54
Kristen Ahlenius
Okay. Yeah.
54:56
Damian Dunn
She doesn't have to make her trip next week, so she's got time.
54:58
Peter Dunn
Are you going to miss a show here in the next couple of weeks for your trip? Or is that midweek or something?
55:04
Damian Dunn
I'm going to miss one for sure. And then I wasn't sure what were doing over the Thanksgiving break.
55:09
Peter Dunn
We're giving thanks, you jerk. What else do you think we're doing?
55:12
Damian Dunn
I'm only going to miss one.
55:14
Peter Dunn
Oh, no, we're doing a show, but we're going to give thanks.
55:16
Damian Dunn
Okay, well, I'll have my stuff. I can set up remote. That'd be fun.
55:22
Peter Dunn
This year, I'm surprising my family. I might not make turkey. I might make lamb. And I was going to call it shanks giving. Nice, like lamb shank. Shanks giving. What do you think?
55:35
Damian Dunn
I think that might be the cost effective way to go. Because turkey is going to be about 75% more expensive than it was in 2019.
55:42
Peter Dunn
I think we just get to slaughtering lambs early. Sorry, clarice so graphic. It's like, oh, we're going to have lamb. But the second you're like, hey, let's slaughter a lamb. And then it's like, I don't care for lamb anymore, sir. All right, here's the question. Here's the question. Here's the question. Kristen, how many times a year do you consume lamb, mutton, or sheep and how much?
56:10
Kristen Ahlenius
I have a third of a lamb in my freezer.
56:14
Damian Dunn
Wow. Whoa.
56:18
Peter Dunn
You have a third of a lamb in your freezer?
56:21
Kristen Ahlenius
Yes.
56:22
Peter Dunn
How do you typically eat the lamb?
56:24
Kristen Ahlenius
It's all like, ground lamb.
56:27
Peter Dunn
So what do you make, like a pasta sauce or you do lamb burgers?
56:30
Kristen Ahlenius
What do you do? I like to do, like, a Mediterranean inspired bowl with, like, rice and ground lamb. And I have a recipe for lamb burgers, but I haven't tried it yet.
56:41
Peter Dunn
You know, have I hold you in about the highest regard of anyone I know. I want you to know that. Kirsten, you've gone further up.
56:49
Kristen Ahlenius
Thank you.
56:49
Peter Dunn
You are tipping over the edge almost towards the decline. That's how high I love lamb. I love lamb dame. Lamb consumption at the northern Duns aqua Duns household. You know the answer to none.
57:04
Damian Dunn
Zero.
57:04
Peter Dunn
Yeah, zero.
57:05
Damian Dunn
Zero.
57:08
Peter Dunn
We're lamb probably once every other month, but usually we'll make, like, a lamb bolognese. And I love lamb shank during the winter, and I love lamb chops on the grill, dude. I dig on some sheep. Nothing but mutton, you know what I'm saying? Oh, my, I gotta go.
57:29
Kristen Ahlenius
Excellent.
57:36
Peter Dunn
How about veal, dame? Veal?
57:40
Damian Dunn
I'm not opposed to it. I'm not opposed to sheep either, but it doesn't cross my plate very often.
57:46
Peter Dunn
Kristen, do you reveal the veal? No can't do veal. If I'm at a good Italian restaurant, I'll have veal, and every once in a while we'll get ground veal and make veal. Bonniers? Yeah. Interesting duck. Dame, are you on the canard? What do you think about the duck?
58:05
Damian Dunn
It's okay. It's not something we make at home, but I think Mrs. Advice will have it every once in a while.
58:14
Peter Dunn
Yeah. How do you feel about that poultry lady?
58:18
Kristen Ahlenius
No. I grew up on a lake, so ducks were, like, almost like distant pets. I can't.
58:25
Peter Dunn
Okay? I have to go. Thanks, everybody. I'm now hungry. We're going to go to a butcher shop and have some of the more exotic proteins. Stay getting money. Bye.
