@HowToMoney (5/14) Hour 2

Money Move of the Week: Check your beneficiaries!
College degrees are becoming less valuable
Outlandish Headline of the Week: ‘New cars, once part of the American Dream, now out of reach for many’
Joel dissects bad financial tips online
Tipping has gone too far // Rest is really important

Episode Transcript

(00:00):
Kf I Am six forty. You'relistening to How to Money on demand on
the iHeartRadio app. And this ishow to Money where it's a show all
about your finances, getting them inbetter shape, talking about what's in the
news, and just talking about timelesstruths on the topic of personal finance and
how you can apply them to yourlife in personal finance. The longer I've

(00:21):
been in this space, the moreI believe it to be this really interesting
amalgamation of simple and complex. Sometimesthe most beautiful truths are the simplest things,
and I think that is true onthe topic of money. But then
there is also so much complexity whenit comes to the nuance of how to
do it well, how to handleyour money properly without obsessing and overdoing it.

(00:46):
So that's what this show is gearedtowards. That is kind of my
aim, my stated mission. Allright, but for now I want to
get to the money move of theweek. It's time for how do Money's
money moves? So the money moveof the week is typically I try to

(01:10):
I want to be straightforward about onething that you can specifically do to enhance
your finances or to protect yourself inthe here and now when it comes to
your money, and the money moveof the week for this week is to
check your beneficiaries. That's right.This sounds so bland, but it could
save your bacon in a big way. I want you to log into the

(01:32):
back end of your retirement accounts andmake sure that the person you want to
inherit your money is the person listedin that section of your retirement account,
whether it's your IRA or your fouroh one K. If you have accounts
with different companies, Let's say you'vegot a Fidelity, you've got a Vanguard,
and you got a SWAB. Lookat you, you fancy well?
I want the beneficiary to be appropriatefor every single account. And if it's

(01:59):
not the person you want to beinheriting the wealth you have been able to
accumulate over time, change it.Change the beneficiary. Why well, because
whoever you have designated as your beneficiaryis going to be the one receiving those
millions of dollars hopefully, hopefully that'show you're doing, or thousands or hundreds

(02:22):
of thousands of dollars that you havein your four one K or IRA.
If you're married, you're probably gonnawant to name your spouse. Probably I
don't know your specific situation, butif you know, you're not sure who
you have designated. Maybe you forgot, maybe you've had some life circumstance changes,
Maybe you have a new love,maybe you have a repaired relationship with

(02:43):
a child, and you have decidedthat you want them to inherit the money
you've invested. Whatever it may be, make sure that the proper person is
named in the back end of yourretirement accounts, because yes, it's because
you want them to get the money, and you don't want to kick the
bucket and leave your family in deep, deep consternation because the wrong person got

(03:10):
the funds that you didn't intend.And by the way, even if you've
updated your will and you have nameddifferent people as inheritors of your assets,
the beneficiary designation inside of your retirementaccount often takes precedence over what's in your
will, so you might sack atthe taking care of I got the will

(03:32):
filled out, it's not enough,So check your beneficiaries. Update them.
It's a big deal. It's abig deal. I know I wouldn't want
the wrong person if my circumstances changed, the inheriting the money I had spent
years, in decades working to buildup. You want to be able to

(03:54):
take care of and bless the peoplenearest to you, not some rando that's
no longer in your life. Sotake that into account. That's the money
move of the week, all right. But let's talk about college for a
second. This is something, likeI said, I talked about with Mo
Kelly on Wednesday, who, bythe way, just a fine human being,
a wonderful guy. I love chattingwith him every Wednesday, And we

(04:15):
talked about the fact that college degreesare not quite what they used to be.
And I get accused sometimes when Itake this line of reasoning on college
degrees as being a hater or beinganti college, which could not be further
from the truth. I'm a collegegraduate myself. My wife is in graduate

(04:36):
school right now. So we're talkingextra college, extra money, and I'm
all for it. We're you know, there were good reasons and we were
to get these degrees and it's beenwell worth it. But at the same
time, it's undeniable that the valueproposition is not what it used to when

(05:00):
it comes to college. The costshave risen significantly. New data from the
Department of Education finds that high schoolgrads are likely to take on thirty seven
thousand dollars worth of student loans ifthey opt to get a higher education.
That's the average. Some people less, some people more, some people quite
a bit more. But at thesame time, we're seeing a move to

(05:27):
devalue college degrees in the workforce.Not en mass but we're seeing it the
states around the country like Pennsylvania,Utah, Massachusetts, Alaska. They've eliminated
the degree requirement for a slew ofgovernment jobs. And it's not just government
jobs, private jobs too. Ithink I mentioned I don't know a few

(05:48):
weeks ago about more white collar apprenticeshipopportunities. It's not just blue collars doing.
Blue collar workers getting into apprenticeship programsthese days bypassing college for an apprenticeship
program that is going to lead toa high paying job. And this is

(06:10):
really good news for a bunch ofhigh school grads because there were a lot
of positions out there that didn't necessarilyneed some sort of college degree in order
to fill those shoes. And we'refinally correcting that in justice. There's a
Harvard business study from a few yearsback, and it found that sixty percent
of folks with the right experience wererejected out of hand just because they lacked

(06:32):
a degree. And that millions ofjob postings requiring a degree were for positions
currently held by someone who didn't haveone. So they post a job even
though the person who just had thejob didn't have a college degree. Guess
what, now any applicant needs tohave one. It's just silly. It's
just silly. So the cost ofgone up, the benefits are going down,

(06:57):
and degrees are being required less andless around the country. By the
way, I'm not alone in losingconfidence, at least a little bit of
confidence in the value of a collegedegree. A recent Wall Street Journal poll
noticed major shifts in public perception.Back in twenty thirteen, forty percent of
people thought a college degree was likelywas unlikely to be worth it. In
twenty twenty three, fifty six percentof people, a sixteen percent increase,

(07:18):
said, you know what, collegeis unlikely to be worth the cost.
So more than half of people saycollege isn't worth what it's costing us.
But college costs continue to rise,especially at the elite institutions, and so
it's just it's no wonder people arelooking for alternate paths. I am.
I consider myself a valuist, andthat just means that whether or not something

(07:44):
is worth it depends on the pricetag. If I'm looking to update my
television, which I'm not, Itry to buy one television to keep it
for like eleven years. We've gotone TV in our house. We don't
need another one. But if Iwas looking to upgrade, it would depend
on the price. The price isthe ultimate arbiter of whether or not me

(08:05):
upgrading that TV makes sense. Well, the price and the need right.
And there's a need for a lotof people to go to college. I'm
not saying that it's bad for everyone. In fact, I think college is
When you look at the Bureau ofLabor statistics, a college degree will still
earn someone roughly a million dollars morethan their high school graduate counterparts. So
there is economic reason to get acollege degree if if the value proposition is

(08:28):
there, and by value proposition,I mean if the cost is low enough
and if the return on that investmentis high enough. So high school students
need to think long and hard aboutthis. Parents of high school students need
to think long and hard about this. If you want to extract the most
value from a college education, keepthe cost of that education low. That

(08:50):
is my PSA for the day.I think college can be great for many.
It is becoming less just knee jerkreaction sort of great twenty five years
ago. Yes, go to collegeis the path that is no longer the
case. It is no longer aslam dunk decision. All right, Coming

(09:13):
up, should owning a brand newcar be a part of the American dream?
You probably know what I think,but there's still a lot to discuss
on this. This is how toMoney. I'm Joel lars Guard. You're
listening to how to Money with Joellars Guard on demand from KF I am
six forty. By the way,if you have a money question, give
me a call. Love to hearfrom you, Love to discuss whatever your

(09:35):
money can undrum is. The numberis one eight hundred five two zero one
five three four. That's one eighthundred five two zero one five three four.
Even if it's just what's the bestbudgeting app Well, I've got an
idea on that. I've got somethoughts. But now now it's time for
the outlandish headline of the week.I may have some news for you.

(09:56):
It's time for how to Money's outlandishheadline. This one comes from the Washington
Post and the equal opportunity ridiculous headlinewriter, and this one reads, new
cars, once part of the Americandream, now out of reach for many.

(10:18):
Oh my goodness. I have somany thoughts when I read a headline
like this, and there's just somuch to say, but namely, why
in the world is driving a brandnew vehicle part of the American dream?
It is this news to me?Was this always a part of the American
dream? I feel like I believein the American dream. I think there's

(10:41):
a lot about like this. Welive in the land of opportunity, and
there is I think in regards toself determination and the ability for us to
make our way in this world.This is still one of the best countries
for that. It When did anew car become part of the American dream?
Ridiculous? It shouldn't be. It'snot. In my estimation. I

(11:03):
am not against every person buying anew car. I think for some people
it might make sense, even ifnot the smartest financial move. Some people
have enough money to buy a newcar. That's fine. I'm not against
it. I'm not a hater.If you can afford to buy one,
you can buy it in cash.You're saving and investing well, you're handling
your finances in a really smart andabove board manner. Go for it.

(11:26):
Buy a new car, even withnew cars costing as much as they cost,
that is at that point really apersonal decision saying, Hey, I
want my hard earned dollars to goin this direction as opposed to this one.
I personally don't value it nearly tothe degree that most people do.
I am a used car guy allthe way. The average cost of a

(11:48):
new car, by the way,just crested forty eight thousand dollars, and
then interest rates are now basically closeto double digits, and they're making payments
skyrocket. So the average monthly paymentof a new car is now seven hundred
and thirty dollars. And I thinkat last I saw more than fifteen percent

(12:09):
of people who buy a new carnow are signing up for a payment of
at least a thousand dollars a month, which is just hard to fathom.
Honestly, I still remember renting placesthat cost less than a thousand dollars.
Granted, that's pretty much near impossiblenow. But this is just goofy from

(12:33):
every single vantage point. Because one, new cars are so ridiculously expensive,
and I would love to see youhold onto your car and repair it.
Even though repair costs have gone up, they haven't gone up as much as
what it's going to cost you tobuy that new car. And no,
no, owning a new car isnot a part of the American dream.

(12:56):
That's a ridiculous consumption based version ofthe American dream. It doesn't hold water.
The American dream is robust and alivefor many, and owning a new
car does not have to be apart of it. Brand new wheels,
because we all know what's true.Even though the car space has certainly been

(13:18):
upended to a certain degree, andwhat we used to know was true about
cards, that they declined in valueevery time, well, that hasn't been
the case for the last couple ofyears. That doesn't mean that that will
never be the case again. Iam all but positive that cars will once
again, that they're not going tohold their value indefinitely, that this supply

(13:43):
chain and balance, that the chipshortage will all get sorted out and cars
will once again become a depreciating asset. Buying a new car is signing yourself
up for years of payments if youdon't pay in cash, and to see
it decline in value precipitously. Iwill say this, though, I feel
you if you are out there andyou're looking for a used car, that's

(14:05):
solid. I I was rear endedEaster Sunday in fact, and just finally
was able to find and pounce ona used car, a used minivan that
was to my liking. Because itfeels like there's no place to go if
you're looking to buy from another privateseller. I looked on Facebook, craigsliston

(14:28):
auto trader. Those are the threesites I was prusing literally every day,
sometimes multiple times a day, readyto pounce when the right car, right
minivan came along. And by theway, my producers were giving me a
hard time about driving a minivan.They are awesome and you look really cool
driving them. I just want peopleto know that feel cool. As long
as you feel cool, nothing elsematters, doesn't matter what the haters say

(14:50):
about you. Victor and Dana,Okay, But so when it comes to
buying a used car, it istough out there too. It's tough out
there to find a good use car, always always get it checked out by
a mechanic that you trust before youmake the purchase, because when you're buying
a used car, you don't wantto be buying someone else's headache. That's
not always the case, though,you don't have to do that when you're

(15:11):
buying a used car, but youdo want to make sure that it's in
good condition, and you want toknow the potential problems that might be around
the corner. And that's where aninspection comes in really really handy. And
if you have to get a newcar, right here's the thing too,
Like if you're like I just don'tlove my car right now, that's one
thing I don't I want you toavoid as long as you can making that

(15:37):
change. I was just talking toanother guy and he said, Hey,
I've got this truck. It runsgreat, but I just kind of want
to trade it in for a foresteror yeah, some sort of subrew.
I was like, I get thedesire, but he was talking about how
much they were offering for a tradein, which was nothing, and just

(15:58):
the economics of it, we're dismal. And so if you can hold off
as long as possible, do it. And by the way. I still
I still do like Carvana and CarMaxas places to find a used car,
but even there you have to becareful. Both of them have like windows

(16:18):
where you can return the car,and so I do like that aspect.
I even considered going with one ofthose, with one of those guys,
but they were high more than Iwanted to spend. Their minivans started at
like nineteen or twenty thousand dollars andI found mine for twelve something, So
I didn't want to spend that muchbecause I really don't value cars that much
and so I don't want to spendvery much on them. But this is
one of those things where the longeryou can wait and the longer you can

(16:41):
stay put with the car that youhave, the more money you're going to
save. The Economics of upgrading,even if you're upgrading to a newer used
car, well typically it's gonna takemoney out of your pocket. So just
be careful out there when you arecar shopping. And no, no new
cars are not the America can dream. That is some sort of Washington Post

(17:02):
fabrication. The American dream is somuch bigger and broader and more idealistic than
that like a new car in everydriveway, a truck, maybe an eighty
five thousand dollars truck, right,Like, who can afford those? Now?
Who can afford those? Although Rivianten years from now is on my
list when it's used and much muchcheaper. All right, Next, I

(17:22):
want to talk about I didn't getto because we had a phone call.
I didn't get to some of thoseterrible financial opinions and mistakes. So I
want to talk about that. Next. You're listening to How To Money with
Joel Larsgard on demand from kf Iam six forty. By the way,
stay tuned for Macro with Jason Middletonbecause he is going to have an interesting
conversation with Joanna Starn from The WallStreet Journal about AI artificial intelligence and how

(17:47):
it tricked her dad and her bank. So the strides being made in AI
are incredible, especially when we're talkingabout just the recent months. I mean,
it feels like there's some new rationcoming down the pike that's changing our
lives sometimes the for the scary.And so he's gonna talk with Joanna from
the Wall Street Journal about that comingup. His show starts in thirty minutes,

(18:10):
so stay tuned. But let's let'shave fun here for a second.
Let's dissect a list of bad financialtips. There was this the site called
ruined my Week, great name fora website, by the way, and
they documented a bunch of really crummyfinancial tips, and I thought that I
would kind of like, you know, some people will respond to tiktoks that
are dumb. This is my versionof that. So I'll give my brief

(18:33):
response to a few of these reallyterrible financial tips, but you know what,
to be honest, as I wasreading them, I was like,
I think a lot of people reallybelieve these things, so let's get to
it. The first one was don'tuse credit cards, use cash for everything,
which there I would say, there'sa small segment of the population who
really should avoid credit cards because theydon't know how to handle plastic and they

(18:59):
have a relationship that gets them inbig trouble with their credit card. That
is the only reason, though,that you should avoid credit cards and use
cash completely. And by the way, how in the world is it possible
to live in our modern society withoutusing credit cards? Like I it's very
very difficult. You have to beliving a really alternative lifestyle. I was

(19:25):
just abroad for a week in Scotlandin the UK, and Mike, I
don't. I didn't use cash once. There was like one place I wanted
to get a little little bite offood that was cash only, and I
literally never got cash out of theATM. Credit cards the whole way,
no foreign transaction fees, and it'samazing how easy it is to travel because

(19:48):
credit cards are accepted everywhere and youpay that. It's one of those things
where most people don't realize but payingby credit card with a zero foreign transaction
credit card overseas is going to getyou by far the best exchange rate too.
So they're important for travel, butthey're important for every day spending and
using credit cards wisely has a lotof potential benefits, including earning yourself a

(20:15):
better credit score over time, whichcomes in handy in lots of situations like
if you're trying to rerunt an apartment, or you're trying to get a loan
to buy a house, or tryingto get a loan to buy a car,
which I'd rather see paying cash.But still don't use credit cards.
Use cash. That's bad, that'sbad advice. Okay, next clip,
grocery store name brand cupons to savemoney. Have you ever there are some

(20:38):
things that just aren't worth the effort, right. You've heard those saying pennywise,
pound foolish. There are a lotof people who are cupon clippers and
then they fail in some of thebigger financial personal finance areas. So no,
I am not clipping cupons, andI'm not saying that it's not worth

(21:00):
it for anyone, but cupons areoverrated, and by the way, it's
harder to find them. It's hardto find good ones, and even as
inflation has gone up, those cuponshave mostly stayed the same. A quarter
off this, fifty cents off that. And I'm not saying that they don't
add up, but I think theycan also cause us to buy things that
we wouldn't otherwise buy. Digital couponsare another thing. It's I'm okay with

(21:22):
digital coupons because the effort. Theeffort isn't nearly as extensive. And there
are a lot of different apps thatpurport to help you save money by taking
a picture of your receipt. IBota is one of those. Ibotta,
and I think for diligent people whoreally do a lot of grocery shopping and

(21:42):
don't mind interacting with an app afterwards. That that can be a great way
to save a few bucks. Ijust think clipping cupons is overrated. Okay,
sorry, So if that's the financialadvice you love, you're not going
to get it here. Okay,another one drive for miles to save two
to five cents on gas. No, you're spending more in gas to get

(22:04):
there. This is just another trapof the ultrafrugal I love frugality, but
I will say I am a reformingnot reform not fully reformed, but I
am a reforming ultra frugalite because thetruth is, if you're doing this,
you you don't value your time enough. If you're driving to the other side

(22:25):
of the interstate to fill up justbecause it's five cheaper a gallon. There,
I'm not saying don't try to getthe cheapest price, and don't you
know, maybe even manieuver your schedulearound or your route around a gas station
that might be a bit cheaper.Stuff like that. That's fine, but
this is another one of those pennywise, pound foolish things. When it comes

(22:45):
to that advice from ruined my weekdot com, driving extra effort and gas
in order to save a few centsa gallon just isn't worth it. Okay.
Another one was wash your dishes byhand. Man. This sounds like
good advice, but again it's notif you have a dishwasher. And I

(23:07):
forget what percentage of houses have adishwasher now, but it's pretty extreme.
There's so much more effective than youare in cleaning your dishes. But it's
not just that they're more effective,and it's not just that they save you
time. They actually save you money. Would you might if you're using your
dishwasher as a place to store yourwinter sweaters or something like that, take
them out, put them in theattic, and instead use it to actually

(23:32):
wash your dishes, because a dishwasheruses less water than you would then you
would use washing them by hand.They're just incredibly efficient. They really are,
so unless you just have this loveaffair of listening to your favorite radio
show or your Beethoven symphony or somethinglike that, because while you wash dishes

(23:55):
by hand and it soothes you orsomething which in that case or power to
you enjoy washing dishes. I stillremember my first house, my wife and
I when we got married. Itdid not have a dishwasher, and we
were blissfully unaware newlyweds, and wewould wash dishes by hand together every night,
and one would wash, one woulddry and put away. We'd have

(24:17):
a lovely conversation. Now we havethree kids and the dishwasher is a necessity.
I can't imagine life without a dishwashernow, but back then it was
sweet. Now it would just beyeah, it wouldn't work. Let's leave
it there. It wouldn't work,all right. Another one that one of
these really bad tips was shop atthe dollar store to save money. No

(24:41):
way. I am not a bigdollar store fan. I always try to
make a distinction between being cheap andbeing frugal, and I think frugality is
can be a wonderful thing. Ithink being cheap, you're often being cheap
when you're saving money at someone else'sexpense, but also when you're trying to

(25:03):
save money by do with a shortterm solution to a problem that you're going
with the most inexpensive thing in thehere and now that won't necessarily be the
most inexpensive choice in the long run. And when you shop at those some
of those super cheap dollar stores,you're either buying inferior products or you're getting

(25:25):
something that white might not last verylong. I'm not a big fan of
the dollar stores personally. I don'tlike what they do to their neighborhoods that
they get they could put into they'reThey're not my favorite. And maybe you
might have a different take than me, and that's okay, But dollar stores
I mostly stay away. So thoseare just a few bad pieces of financial

(25:45):
advice that I thought I would respondto. Feel free to disagree, and
if you want to disagree and youwant to let me know you disagree,
follow me on Twitter, shoot mea line. I'm at how to Money
Joel on Twitter. How to MoneyJoel, so out to me there.
Also, I want to talk abouttipping for one second. It's gone too
far. It's gone too far.There was an article in Entrepreneur magazine documenting

(26:08):
some of these new trends in tippingthat I think are awful. Self checkout
kiosks are apparently asking for tips atairports and stadiums. Self checkout asking for
tips. You're dealing with an iPadand then it says, hey, I
know you didn't talk to anybody orsee a smile on the face of an
individual. All you saw was thispiece of electronic hardware. Do you want

(26:29):
to tip the people who are behindthe scenes making things happen that you might
not have noticed. No, withzero human interaction, I don't want to
tip. Sorry. It feels kindof ludicrous to me that this is the
case. Another thing on this tippingfront a Bloomberg Bloomberg reports that a unionized
Apple store in Maryland wants to addtipping as a screen option at checkout.

(26:55):
No, no, I'm not goingto do it. Well, first off,
I don't shop at Apple stores,but if I did, I wouldn't
do it. It's ridiculous to thinkthat you're going in there to buy and
they didn't have all the details.I'm just assuming this is the case that
you buy a new MacBook or aniPhone or some AirPods or something like that,
and then they flipped the screen aroundand say, do you want to
tip three or five percent on thispurchase because this smiling person was so helpful.

(27:17):
Can you imagine tipping three to fivepercent on a MacBook or an iPhone?
That's crazy. And I just cameback from the UK, where tipping
is basically non existent, and theyjust charge regular prices and they pay people
normal wages and it is so niceand I just wish we operated like that
here because the tipping culture in theUnited States is getting out of hand.

(27:41):
And I do not mind, andin fact, I enjoy tipping generously when
I have a great weight staff,a great way or a waitress. But
I just am not going to tipan iPad and I'm not going to tip
for buying an expensive product just becausethe person was nice. Sorry. So
you have to be as tip creepbecomes more and more of a thing,

(28:03):
you have to be judicious in whatyou tip and how you tip and where
you tip. And I want youto like draw lines ahead of time so
that you're not in the moment coercedinto tipping more than you feel comfortable with.
Okay, Coming up next, Iwant to talk about a plan to
rest and how that can actually bebeneficial to your bottom line. This is
how the money. You're listening toHow to Money with Joel Larsgard on demand

(28:25):
from kf I am six forty andthis show is how to Money. This
is more personal finances. It's themicrotake on what's going on with your money.
And this last segment. I wantedto talk about something that, yes,
is tangentially related to money, butit's it's also kind of a thing
of its own, and I wantto plead with you to get some rest.

(28:49):
To get some rest. I'm notsure who needs to hear this,
but the truth is taking a breakis not being lazy, and in fact,
it's gonna enhance your ability to achievethe things you want to achieve.
I think some of us are sorelentless in our pursuit that we have a

(29:15):
hard time stopping to smell the roses. We have a hard time stopping to
enjoy the things we've been able tocreate. And I just I think it's
so important just a life enjoyment standpoint, but also from a money standpoint,
that we stopped to give thanks andto take some time off from our duties.

(29:41):
I think it only makes us betterat what we do moving forward.
Like I said, I just tooka week long trip to the UK with
my wife and my best friends.The four of us we hiked, we
ate good food, drink some goodwhiskey and beer, and I am so

(30:02):
pumped to be back behind the microphonethis week because largely because I am pushed
and energized because I had a greatbreak And if you're I just think most
of us, most Americans are badat rest, and that eats into your
ability to enjoy life. But italso eats into your future creative pursuits.

(30:25):
If your nose is constantly to thegrindstone, it's it's really hard to be
as productive as you want to be. The sad fact is, when you
look at the stats, Americans don'ttake most of their vacation time. The
rest of the world they do,or at least large parts of the rest

(30:45):
of the world take huge chunks oftime off. And so part of that
is is just that they're able toenjoy other pursuits besides work. And in
this country, for a lot ofpeople, work has become the new religion,
the end all be all. Andsince I mentioned the word religion,
rest is in many ways linked toreligion. We talk about the term Sabbath

(31:10):
in particular as a command really fromJudaism and Christianity to rest right, to
take some time away from the pursuitof work, from the continual grind,
to reflect and enjoy. And no, I'm not going to get all preachy

(31:34):
here on you, but I justthink that there's a lot of wisdom,
even beyond the spiritual realm, forsome sabbath in our lives. And I
do think it'll help you come back. And I mean this in like in
every single day sort of thing,incorporating some sort of RESTful thing into your
life, even during the work day. So for me, I have lunch

(31:56):
and then I go for about afifteen minute walk around the block if the
weather's nice. I try to enjoythe birds, the bees, the flowers,
the trees. I try to soakit all in every afternoon, appreciate
my surroundings. Maybe for you,and I'm trying to get better at this.
I'm so I'm kind of I couldsleep all day if allowed. My

(32:21):
kids don't allow, so I don't. But maybe it's waken up thirty to
forty five minutes earlier if you havekids. Maybe that's where you get your
rest. Some people have said,what like an hour before seven is worth
two after five, And I thinkthere's a lot of truth to that.
If you could wake up an hourearlier, it can be the most RESTful
hour of your day. But thinkabout incorporating rest specifically on the weekends,

(32:46):
but also during the day to dayand rest. It doesn't have to be
a nap. It doesn't have tobe sleep. It can be I think
a twenty minute anap can do alot of good. I have a hard
time napping myself. My mind's alwaysgoing. So for me, play play
is a form of rest that Ilike to enjoy or connection to other people.

(33:08):
So whether that's going out and gettinga beer with a friend, going
on a hike with somebody that Ihaven't caught up with in a little while,
do it. Do that, Goplay some pickaball. I've still yet
to play pickaball. I'm assuming I'mgonna love it. I gotta get out
there on the courts. Disc golfis kind of you my favorite hobby,
but get out there and play.That can be restorative too, And so

(33:34):
yeah, I mean, whatever lightsyou up, whatever makes you feel rested
and refreshed. I'm I'm fully convincedthat the better we are able to get
at resting that the more it willactually funnel us and make us more well
rounded, but just better in ourwork pursuits too, enjoy our careers more

(33:57):
because what are we working so hardfor? Anyway? Work hard, yeah,
but then play hard. And resthard. So that is kind of
my two cents to wrap the showup for the day. If you want
to be more productive, I thinkI think rest is part of it.
And I want to say this too, if you if you're bad at resting,

(34:20):
you're not going to rock it immediately, Like you know what, I'm
gonna try to rest for thirty minutesor an hour today. You're You're gonna
have to kind of ease into it, figure it out, and work at
it. And you can't just sayI tried resting. I suck. There's
no I gotta I'm quitting. No, it's gonna take some getting used to,
but try to incorporate little periods ofrest because it was funny. I

(34:40):
was talking to a producer, Victorabout this, and he said, man,
I was like, I had justspend so much time working on these
problems and I took a thirty minutenap. Guess what I thought it was
going to take a few hours tofinish all these tasks. It took me
thirty minutes after arrest. It's amazinghow it can bring so much clarity to
your brain. It can allow youto, like I said, be more

(35:00):
productive in the end. So thinkabout that this week. Wisdom for this
week, get more rest, incorporatethat into your life. Okay, don't
forget to stick around for macro withJason Middleton. He's got that interesting AI
conversation that I'm going to stay tunedfor. I'll see you back here next
week. For more money saving information, I'm Joel lars Guard. This is

(35:22):
how to Money on kf I AMsix forty. You've been listening to how
to Money with Joel lars Guard.You can always hear us live on kf
I AM sixty twelve pm to twopm on Sunday and anytime on demand on
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