The Biggest Lie In Personal Finance (plus and intro to the Retirement Budget Calculator)


Joe: I’m Jen from the frugal friends
podcast, and when I’m not cutting the end of the toothpaste tube off to get that
last little bit of toothpaste, I’m stacking Benjamins from Joe’s mom’s basement. The stacking. Benjamin I’m Joe’s mom’s neighbor. Doug and my wonderful calendar
says, it’s national dentist’s day. Who on earth gave them a day. Maybe next is national
roto Rooter man day. The dentist may tell you this
won’t hurt, which always is a lie. So we thought, what are the
biggest lies in finance? We share a lopper with the man from
the successfully unemployed podcast. Dustin, Hyder. And joining in the fun from
the afford anything podcast. It’s the all-knowing Paula pant and
from this podcast, say hello to. Oh gee, bud. Wait, there’s more. Today in our Friday FinTech segment,
Joe will talk with the inventor of the retirement budget calculator. Jason Parker. Huh? Wonder how much money of my dentist
retirement I contribute to every time I go. But he’s using Jason calculator to chip
Ching on that all the way to the bank. And as always, we will
magnify someone’s money. And of course, we’ll
discuss my amazing trivia. And now the guy with a
perfectly white smile. It’s Joe I can’t believe Doug is actually
dishing out compliments today. What the heck is that about? Everybody? Welcome to the Doug’s turning
over a new leaf podcast. I’m Joe saucy high average show money on
Twitter and across the card table to help start your weekend. It’s my good friend. Oh gee. OG: I feel like Doug is setting us up for
a little bit of a little backhanded love. I’m not sure what’s going to happen, but Joe: every time he says anything that
night, she just wait for the other shoe to drop. Don’t, yes, something’s OG: coming. It is. Joe: It is horrible. I don’t know about that, but I don’t know
who is carbon from the desert outside of Las Vegas or in Las Vegas, Nevada. It’s our friend Paula Payette. Paula: Absolutely. I am here. It is a balmy 71 degrees. Stop it. That’s enough. Yeah, no, I’m, I’m, I’m
like wearing a tank top. No, Joe: no. OG: All sweaty. Joe: Easy. OG: Everybody’s all sweaty except
for the uni Joe in the basement. Joe: Leave. Leave it alone. Just Paula. That’s horrible. Talk and a guy who’s in Holy crappies
in Arizona who invited him from the successfully unemployed podcast. Dustin Haner joins us. How are you, man? Dustin: I’m fantastic. Actually, I’m super nervous to be on the
show because I’ve been listening for so long and all of a sudden I’m on the show. I feel so, so privileged. Thank you guys for having me. Joe: Well Paula G and I are nervous
cause you’re here and it’s like we’ve got royalty here with this man. Cause the dude from the successfully
unemployed podcast is here. Dustin: Well I was one of the two
listeners that you guys have, so I’m ready to go. Joe: There it is. See that’s what we’re looking for. Dustin’s not nice to us. So we believe him. Well, unlike unlike Doug, but tell
everybody about the show because successfully and employed, you
just had a fantastic launch. Uh, what about a month and a half ago,
and you’ve just been roar until everybody. Dustin: I invest in real estate
rental properties myself. I quit when I was 37 years old,
quick quit working in a job. I had 30 plus properties and I started
teaching people how to do that. On top of that, I realize not everybody
wanted to invest in real estate, so I decided to do a podcast where I interview
awesome people like you, Joe, and many other entrepreneurs, side hustle experts
in vestors and every single which way that they can find a way. So that they can quit their job. And I say job is just over broke
cause we live just over broke. And we’re going to talk about that today. But what’s crazy is as I’m interviewing so
many entrepreneurs and business owners and investors and seeing how they built
their businesses, I’ve learned so much. And so. It’s all about interviewing people who
literally do not work a job and still make money to provide for their family, and
so that’s everything about successfully employed. Joe: I just wish you had energy. That’s what I think the problem
is with the show is a lack Dustin: of all the time, man. I got to work on that. Joe: If you need energy, a great place to
go to get some motivation is our stacker newsletter. Dustin head to Stacie benjamins.com
forward slash stacker and there you will not only get a bunch of lessons from my
life of speaking about a broke being just over broke. I wasn’t just over broke. I was just under broke and
I had to figure that out. So over a course of
episodes, we tell that story. We also let you know what’s happening in
the basement and as a O, G and I travel around the country. Also, if we have meetups, Stacie
Benjamin’s dot com forward slash stacker. We’ve got a fantastic show. We got Dustin here, we’ve
got Paula here, we got OJI. Doug’s be a nice, for some reason,
not sure what that’s about. So let’s get the party started. Hello Dobbins, and now it’s time fuel. Favorite part of the show. I was stacking Benjamin’s headlines and
our headline today comes to us from of dollars and data, personal
finance, using data analysis. This totally seems like Len’s thing
and he’s, and lens, not here, but. I’ll tell you who is here. We’d like to have people read these to us. My old partner over at the Moneytree
podcast, Miranda Mark, quit, is here, and she is going to read
us this piece by Nick. Meg. ULI. Miranda: Okay. The biggest lie in personal
finance by Nick Magali. Why cutting spending isn’t the
key to financial independence. Last week, Michael Batnick brought
the following article to my attention, opinion. I retired at 35 by
following these principles. It’s not that hard. Yeah. It triggered me. It triggered me because without even
reading the article, I knew these five rules have little to do with how they
retired at 35 how do I know this? Because of all of these early
retirement articles are the same. They all say things like, make it a goal,
track your expenses, establish a system, blah, blah, blah. But none of these things, or the actual
reason for the how they retired early. Because the actual reason is either one,
earning a high income or two, having absurdly low level of spending or both. In the case of the blogger that wrote this
article mentioned above, I don’t know his income history, but I knew, do know
that he lives full time in his 30 foot Airstream classic. It’s too bad that one of his five
rules wasn’t . Retire in a trailer, but seriously, his advice has little to
nothing to do with how he retired early. The reason his advice
misses the Mark is simple. All the expense tracking and goal setting
in the world cannot make up for an insufficient balance. Don’t just take my word for it though. Consider what the consumer expenditure
survey from the Bureau of labor statistics has to set up a look at the data. For example, if you look at the percentage
of after tax income that the poorest 20% of households spend on food, housing,
healthcare, and transportation, it becomes quite clear that low
income is the problem here. Note that this doesn’t include any money
for education, clothing, or any form of entertainment. Just the necessities swallow
their entire paycheck. And then some. Considering that their annual after tax
income is on average only $11,700 it’s likely that many of these individuals
are younger and less experienced than the typical American household because we
don’t know the age or household size of these income cohorts. The comparisons are not
necessarily apples to apples. Despite this, the next 20% of us
households aren’t that much better off than the bottom 20%. For example, though, the next 20% of us
households have an annual after tax income about three times higher than the lowest
20% at $31,200 they still spend most of their income on the necessities. Meanwhile, the highest 20% of us
households with an average income of $162,000 spend only about half of
their take home pay on the basics. If we include expenses outside the
essentials, it looks like roughly half of all us households spent more
than they earned in 2018. This is an unfortunate reality, but one
that more clearly demonstrates why so many us households find it
difficult to save money. They end up spending most of
their pay just on the basics. The biggest lie after seeing data like
this, it’s hard for me to, I understand how any sort of expense tracking goal
setting or system is going to fix it. Yes. Some percentage of us households don’t
have the knowledge or habits or mindset to improve their financial situation. You can probably think of a few people
like this from your personal life, but remember and equals one. While there are lots of people who are
in financial trouble because of their own actions, there are also lots of people
with good financial habits who just don’t have sufficient income to
improve their finances. That’s why the biggest lie in personal
finance is that you can be rich if you just cut your spending. And the financial media feeds this lie by
telling you to stop spending $5 a day on coffee so you can become a millionaire. However, these same pundents conveniently
forgot to mention that this is only possible if you are earning
12% annualized returns. Something that is far outside
the norm of eight to 10% a year. Even if you could get 12% annualized
returns, you would need to earn these returns while holding a 100% stock
portfolio without panicking for decades. It’s easy in theory, but
difficult in practice. This is the same financial media who
writes stories about how people save money by living in a trailer, making their own
dish soap or reusing their dental floss. Yes, it’s that ridiculous, but what really
gets me as how these examples are provided as proof of how cutting
spending can make you rich. Just think about how condescending this
message is to the typical American family. The author of these posts might
as well say, see, you’re poor. The reason you aren’t financially free is
because you keep buying the tide pods, but most of us can see the
trick they’re playing on us. We know that they are using exceptional
cases and presenting them as some sort of validation of their lie. It’s run of the mill
financial pornography. Despite this, many of us
keep reading these articles. I think we keep reading them because we
want to believe there is some secret to getting rich, but as I said
before, there are no secrets. Actually, the only secret that I know to
get rich, just to grow your income and invest in income producing assets. Of course, this is far
easier said than done. The best way to grow your income is to
increase your human capital and keep increasing it full stop. And you don’t have to
learn to code either. There are many other options. For example, I saw this tweet about
someone who learned 10 advanced Excel formulas on YouTube and was able to
increase her income by $20,000 in just a few nights of studying. But not everyone can do every job, but I
believe that most people can escape from poverty if they put in the work. Instead of trying to convince everyone
that they can be rich, we should be trying to convince everyone that
they can be not poor. Now that would be the start to undoing the
biggest lie in personal finance, honest, early retirement articles. I didn’t know how to end this post. So I started to ask myself, what are the
financial media never distorted the truth and their articles? If so, what would an honest early
retirement article headline sound like? How about want to retire at 27
marry rich or maybe top ramen? Is that your new retirement strategy? And finally for going procreation, living
like a hermit and for other ways to retire in your thirties. Special thanks to ramp capital for
assisting with these honest retirement headlines and thank you for reading. You can follow of dollars in data
via Twitter, Instagram, or the weekly newsletter. Joe: cutting, spending, not
the key to personal finance. Say it ain’t so Paula cutting spending. Paula: It is so, I mean, at the risk of
sounding like captain obvious, and I have said this for years, what
you need to do is build it. The gap between what you
make and what you spend. Only way to build that gap is by either
making more, spending less or some combination of the two. It’s exactly what he says, and when I read
this, I was like, dude, you’re preaching to the choir. I get it. Joe: But why? Then Dustin? So often when we read articles, the way
that Nick starts us out like Miranda so eloquently, just read to us. Why? Why do we always hear from people that
retired early about cutting expenses? They cut expenses, they cut
expenses, and it wasn’t that hard. If that’s not the really the
key, why do we always hear that? Dustin: I think it’s
the easiest way to go. Like the easiest thing
to say and think of. People can mostly do this. Now, what’s interesting though
is I’m very, very frugal. I’m blessed to have plenty of money. I’ve got properties and I got businesses
and I have plenty of money, but I’m still very frugal. In fact, one of my tenants
were moving out of their house. I was living in California, expensive
California, moved to Arizona. My tenants were moving out, and so I
said, Hey, let’s just move in Arizona. It’s a 1200 square foot house. So I completely agree with what he’s
saying, but at the same time, parts of me are like, Oh, I don’t know about this
because I know as I’ve cut my expenses, life just got easier. But I want to give you one thing. As I was reading this, what really got me
was it got me thinking of, so we have four kids. Our fourth child had just been born and
I went on maternity leave, so I’m off for maybe a week that was
working, regular job. I was off for about a week. I get back and it’s a Friday, like
around three 30 in the afternoon. I get a phone call from my boss’s boss’s
boss’s secretary, says, Dustin, would you please. Come to the office, come
to the boss’s office. I hung up the phone. I said, okay. And I hung up the phone and I sit there
and I’m thinking, what in the world? Why are they calling me? This is weird. So I get up and I start
walking down the hallway. It feels like a really long
hallway, but it’s really not. And as I’m walking, I’m remembering
a little bit of rumors as I was. Going on maternity leave. I heard somebody say, there might
be layoffs, and that hit me. I was like, Oh no. I completely didn’t think about that. And as I’m walking down the hall, my feet
feel like they’re just getting heavier and heavier, almost like led bricks. I finally get to my boss’s
office and I sit down. The secretary looks at me, she sheepishly
kind of grinds and said, would you please have a seat? So I sit down and she knows
what’s going on, but I don’t. So I’m just sitting there. I’m starting to sweat because
I’m starting to realize. This might be something that
might be actually happened to me. My hands get all clammy. I start sweating, then opens the door
to my bosses office and out walks a lady holding a piece of paper. She’s noticeably distraught, noticeably
upset, and she walks out and the boss ushers me into his office. Lo and behold, I actually get laid off. I get laid off and I start
walking back to my desk. I have four kids. I don’t have anything else, and I’m, as
I’m walking back, I’m realizing number one, I need to get another job. Number two, I need to start figuring out
a way to never let this happen again. So the last part of that is I was able to
start investing in real estate, but the first part was, I found
a job fairly quickly. But here’s the thing. Out of all of that, it’s a true saying
and I’m absolutely living a test, and I’ll pause that. I worked for the government who
gets laid off from the government. Nobody gets fired or laid off with
the government, but it happened to me. So all that to say, it’s not if you lose
your job, it’s when, and if you just cut expenses and cut expenses and you don’t
try to get money coming in like an inflow of money, it’s eventually going to happen
and you’re going to be stuck if you just try to cut expenses. So I’m, I’m a little on the fence of both
sides, but I’m also heavily in and to making more money. Joe: Oh gee. It’s funny, as Dustin was talking about,
thinking about what you and I talked about last week on the show about this Robert
Allen quote that keeps coming up over and over again. He says, there’s two doors in life once
is opportunity, and one says security, and the person who reaches for the
security door gets neither. I mean, Dustin works for the government,
the most secure thing on earth, and yet still gets laid off. I think that’s, that seems
to be a recurring theme. OG: Yeah. What Nick was talking about here in his
article was . Not only the impact of trying to cut expenses when you’ve already
tried to cut them to the bone and it’s easy to do. And I think his point is it’s easy to cut
expenses when you’re spending $300,000 a year. It’s easy to find something, but if
you’re, if you’re spending or earning 40 or $50,000 a year, it’s a lot more
difficult to make a meaningful impact for your saving. And I think that we don’t
give it enough energy around. Although Dustin certainly brought enough
energy a few seconds ago, but we don’t give it enough energy to focus on the
other side of the income statement. You know, we’d talked so much
about, yeah, I can retire. I can be financially independent. I’ve got $300,000 in the bank, and at the
4% rule, that’s 1000 bucks a month, and look how great life is. I’m, I’m retired. The reality is, is that the other side
of that equation warrants just as much emphasis as the cutting of expenses side. You know, and what Dustin was saying here,
you know, go out and find income to bridge the gap between those things. Cause eventually, I’m guessing you got to
the point very quickly where you’re like, well I don’t need the job anymore. My money is now doing enough to make money
that I don’t need to go personally go and do this thing that makes money anymore. And then that’s the definition of
financial independence in my book. Joe: And certainly cutting expenses. I’m sure Dustin help you do that, but for
kids, you ever think about cutting that back to two. Dustin: No. In fact, my wife, if we had not taken care
of that by, uh, getting fixed, we’d have at least three or four more now. So we’re, we’re good. But, uh, no, my wife, she’s more of a
kid person, so that would be a good plan though. Joe: But it is interesting because you
hear this debate a lot for people, is that a lot of people who are the, the faces
of a lot of the early retirement movement don’t have kids or only have one kid. I would think that having four children,
Dustin, seriously, even though you’re frugal, makes it a little bit more
difficult to not have a full time job. Dustin: Yeah, it, it really does. But here’s the funny thing see, I
have the easy job of making money. My wife has a hard job of homeschooling,
so she homeschools our four kids. She’s amazing. She’s a hard worker. And. As I’ve been building my business in
real estate, buying 30 plus properties, I finally just have enough money
where I didn’t need to work. So I quit. And then I thought, I thought
there’s so many other ways. And so as I’ve been interviewing great
people on the successful unemployed show, I found out there is even taco
truck vendors make plenty of money. They don’t have to work a job. I interviewed a lady who
sells bridal dresses. I mean, there’s so many different ways. Not just online. There’s offline. There’s so many great ways to make money,
so I believe you absolutely need to increase your income, especially if you’re
going to expand your family that has more mouths to eat, to feed and
all that sort of stuff. So I agree you need to keep
getting that income growing up. Joe: Well, that’s the thing, Paula, is
that one thing that Miranda read was this piece that Nick wrote about,
about about just basic expenses. You and I, Paula, we hear all the time
about the fire movement, the financial independence, retire early
movement, get some stank. From people about, Hey, these are just
high income people, that that made so much money that they were able to retire early. A lot of the time, people I read are kind
of embarrassed about that and go, no, no, no, no, no, no, no. It doesn’t have to be that way. Why wouldn’t you just answer? Yes. Making a lot of money early is a
great part of the fire movement. Like learn how to make more cash so
you can do whatever the hell you want. Paula: Oh 100% 100% I mean, the reason
that so many people in the fire movement talk about cutting expenses is because
they are starting from a place in which they have a six figure W2 job. They have a w two job with a regular
salary in which they’re making 100,000 a year, 120,000 150,000 maybe they’re
married and their combined household income is getting up closer
to one 71 81 90 you know? So when we’re talking about that level
of income, I mean from their perspective, sure. If you like cut out the trips to
Applebee’s and eat at home instead, well. Guess what? Now all that money that you just spent it
Applebee’s is now savings, you know, and you cut out the manicures and you cut
out the golf clubs and you cut out the whatever, whatever, and all of a sudden
badabing badaboom you’ve got money to invest. That is very appealing to the segment
of the population that shares that life experience and not at all applicable and
in fact misleading for the segment of the population that’s making 30 grand a year. Right? You would just, you can’t save half of
your money when you make 30 grand a year. You just can’t. So I think it’s critical that we knowledge
that at a certain point you just cannot frugal yourself down to greatness. You can’t shrink your
way down to greatness. You’ve got to earn more. Joe: Oh, where’d you hear that from? Paula? Paula: That came from a
guy whose initials are J S Joe: F Paula: and he hosts a, a podcast, I think
it’s called piling Washington’s maybe, or assembling Hamilton’s Joe: assembling Hamilton’s
fine name for the show, Dustin. I think you hit it on the head, and I love
what Paul is saying is that it’s gotta be both. Like if you keep making more and more
and more money, but you don’t have good financial controls, you’re
not going to go anywhere. Dustin: No, I completely agree. Um, what I did for my life was I
figured out how to not overspend. Because as you start getting money coming
in, what’s the downside of that is you start to having your standard of living
go up and you start spending more and you don’t save, and you eventually. You’re back at the same place cause
you’re spending a lot of money now. I spend good amount of money. In fact, we, my wife and I, we
love to travel with our four kids. Like last year we went all over the
East coast for four weeks driving. Joe: You took this awesome. It was so fun following you on Instagram. It was such a blast. Dustin: Yeah. So we love spending money, but
we’re also frugal on other ends. But what we love spending
money is traveling. Started in Florida, then drove all the
way, four weeks, a huge history lesson. Remember, you homeschool our kids. So we’re doing history all the way up up
to New York city and Washington D C and then flew back. But the year prior we did. Six weeks in Europe for
11 different countries. The year before that, we went six weeks
in Japan because we wanted to drive all around Japan, and next year we’re
going to go to Italy for six weeks. It takes a lot out of you. It’s a very tiring, it’s a, it’s a
hard problem to have being very tired traveling, but it’s because I
have extra money that I can. I don’t have to do without, and I like
one thing that he wrote in the article. It’s not about just cutting out a latte
or cutting out a cappuccino once a day or once a week to actually
makes you wealthy or rich. It’s not that it’s earning more money and
not just earning, but making more money where it didn’t exist with starting a
business, buying a rental property or doing whatever it might be. To increase the amount of money that you
have, but being able to spend it on the things that you want to spend it on. Joe: Oh, gee. Looking at your wealthiest clients,
there’s gotta be some habits that you see over and over. Like to Nick’s point here about either the
amount that they save or the amount that they spend that you keep seeing. What are some of the big habits you
see among your most successful clients? OG: Well, I think Dustin was talking about
it in terms of lifestyle creep, and it’s, and it’s something that
is very, very insidious. It’s hard to keep your fingers on it. I know that from a personal
experience, it’s pretty easy. You know, the whole rich dad, poor dad
concept of every time you make more money, you just go kind of, you know, it’s time
to move into a nicer neighborhood or. Or a bigger house in the neighborhood or
whatever, and you kind of do that and you get, you can easily get trapped by that. And so I think from a
successful standpoint. People don’t do that. They kind of baseline their expenses and
then if they happen to have a business or rental properties or a good bonus or
something like that, that doesn’t fall to the bottom line in terms of access or in
terms of spending, rather it falls to the bottom line in terms of savings, you know,
it goes automatically into their, into their saving or investing bucket. I think probably the biggest common
denominator is around house purchases. When we talk to people about buying homes. You and I both owned houses
during 2007 to 2008 in Michigan. So it was like the epicenter of like
getting your face kicked in in the real estate market. And now here we are 10 11 years later,
and the memory of that is completely gone. Just like the stock market declining, the
memory of, you know, God’s not making any more land. Get it while you can. All of that stuff. Yeah, I hear it. And it’s crazy. But what’s funny is, is that. When we look at those, those things
objectively, if we’re trying to sell ourselves, Jason: we OG: look at it from the perspective
of like, okay, you know, I live in an apartment right now. I’m spending $1,200 a
month in my apartment. If I bought a house, I
could buy a $300,000 house Jason: for OG: 1200 bucks a month. Maybe that’s true. Maybe the math works out and that’s
the principle and interest payment, Jason: but you forget about OG: taxes and insurance and upkeep, and
the fact that $300,000 houses have AC units that need replacing every so often
and parts on the fan blades that blow. I mean, there’s just always something
that’s going on in your house. And so when people plateau there and
just say, okay, this is our house. Dustin like you did. You just say, okay, this
is where we live now. You didn’t say, Hey cool,
I make all this money. I can afford $1 million house in the cool
fancy golf course neighborhood cause you Jason: can, OG: you just said, no, we’re, this
is where our living expenses are. Then as your income continues to grow, you
start capitalizing on it or you have the ability to capitalize on that and I think
the other side of it is they take that extra money and make it produce money. So that money, you know, you were talking
about Dustin, using stuff for experiences and spending money on experiences instead
of stuff is a really important thing. But taking that extra money and
saying, okay, now this money has a job. Now this money has to go do
something to generate more money. Whether that’s dividends in my investment
portfolio, whether that’s leveraging my real estate portfolio so that it can
produce a cash flow or something like that. It’s not just. Sitting in a bank. It’s not just sitting in a mattress. It very intentionally
has a purpose for this. You know, I’ve got this 50 grand it needs
to go do something to go earn its keep, so to speak. Kind of like what you’d
probably do with your kids. Well at least what I do with mine, your three now, Caroline. You can go earn your keep and I
suggest selling lemonade out front. Joe: You get all four kids out working. Now, Dustin, is that your secret? Is that you’re successful and employed? You put all four kids to work. Dustin: They are out there and pulling
up like strawberries and like they’re, they’re picking up all the fruit
in the field and everything. Yes. That’s, that’s my number. I want more kids. In fact, that’s the reason
why I want more kids. OG: You’re going to start a farm. Dustin: Exactly. OG: They’re doing Dustin: all the work. Joe: I mean, that’s funny. My dad is one of 16 kids and I thought
it was, yeah, and they were a big farming family man, and they, I
mean, they were all labor. They were all, all the
kids were, were labor, so OG: re labor at that. Joe: Yeah. Right. Dustin, you mentioned this earlier. How big did you say the
house is that you moved into Dustin: 1,250 square feet Joe: with six of you? Dustin: With the six of us now, we will
eventually buy something bigger, but right now it’s a pretty high market and the
real estate market, I just know if I buy anything right now, eventually it’s going
to correct and it’ll come back down. It’s been 10 years literally,
of just up climb of the market. So I figure we’re fine right here. It’s okay. We’d rather have a bigger place. It’s just the way it is, but when the
market does correct, Oh my goodness, I’ll be able to buy something really nice. Joe: And by the way, just for everybody
listening, but you can’t see what we see. We have video on our shortwave and
Dustin’s families huddled in the other side of the room and has been told to be
quiet while we’re recording this quiet Dustin: OtterBox again. Yeah, that’s no joke. I literally tell him, be quiet. Joe: Just for the the next hour. Paula, I want to skip to the bottom piece
of this and get your feeling about this sentence. Nick writes, the best way to grow your
income is to increase your human capital and keep increasing it full stop. Paula: Well, if by human capital he means
your your skillset, then I would 100% absolutely agree with that. I will make the kind of more nuanced
explanation that I think for this audience, for the stacking Benjamin’s
audience or the assembling Hamilton’s audience probably goes without saying,
which is that increasing your skills and increasing your knowledge, um,
and your ability to do things. Is not limited to only formal education. There are many ways outside of going back
to grad school that you can increase your, both your knowledge and your skillset. So I’m adopting an attitude of lifelong
learning and then having the courage to implement that and the confidence
to implement that and to iterate. Yes. I 100% agree. That’s how you make money and
they’re actively or passive. Joe: I love the idea of creating your own
curriculum, like learning what you need to know. Forget about the degree. Just learn. Learn what you need to know. Dustin. Dustin: Oh yeah. I love the idea of human capital, you
learning, but at the same time, I also take it one step to the side a little bit. Human capital. Also the people that you
know, I met somebody recently. Who said, you know what I’m gonna do? I’m gonna email this one gentleman
who has a fantastic business. I’m going to email him over and over
again cause we’re not in the same city. Email him over and over again and
ask him, can I work for you for free? I want to just work and work
and work so I can learn. Now he’s got a big car. He’s actually partnering with this guy,
this big business guy on another big business because he started. Just having the human capital of reaching
out and networking and finding other people. Because I found as all of my businesses
grow, it’s only because I work with other people. I network with other people. So here’s, if you tie everything back
to me losing my job, I get another job really, really quickly in the
government again, which was great. But what I did was I told myself, I’m
never going to let this happen to me again. So instead of telling anybody, if anybody
ever asked me, well, Dustin, what do you do? I used to say, Oh, I
worked for the government. I do it work for the government. Instead, from that point forward,
I said, I am an investor. My value is what I give
myself, not from my job. So it’s either from my God,
my family, or for myself. And so I said, now I am an investor. From that, I had so many people wanting to
give me properties or sell me properties, wanting to invest with me,
give me money to invest with. And so everybody listening, your value is
not from your job, your values from inside of you who you are. Joe: Is that why O G
calls himself the emperor? This podcast? Is that, why Dustin: are you asking me? Because it seems like it. Joe: I don’t, I, I OG: often wonder that
myself very highly sometimes Joe: speaking of, Oh gee,
let’s wrap this thing up. Uh, what’s your big
takeaway from this piece? OG: Do whatever you
can to make more money. The one thing that is true is that you
can only cut your expenses to zero. That’s the bottom line. You could live on nothing. Well, you really can’t, but that’s
the fire as far as you can go. But there’s no limit to the
amount of money that you make. So if you want to travel the world for six
weeks in Europe with your four kids, you just have to figure out how much
it costs and go make the money. Now that’s easier said than done. I get that. But you know, Dustin didn’t
start with 30 rental properties. They started with zero and
then got one and then got to It’s step-by-step making progress
toward this goal that you have. So don’t make some money. Joe: Paula. Paula: Have the confidence to push
yourself to earning more frugality is tempting because there’s
no risk of failure. You can’t fail at getting a
coupon for fabric softener, but. Taking a risk, putting yourself out there,
trying to sell a product or a service, trying to make an investment in an asset
class that you have no experience in, that’s scary, and so have the confidence
and the courage to earn more because that’s where the potential is, despite the
fact that that’s also, that’s the place that is outside of your comfort zone and
therefore people don’t talk about it as much. Joe: You don’t know Doug very well. I bet he’s failed at trying to
get that fabric softener coupon. Paula. Paula: Yeah. He’s been trying for weeks scanning every
news that he spent like $87 in newspapers looking for each one to try
to find a paper coupon to clip Joe: for 50 cents. Dustin: Yeah. You know what’s funny is yesterday,
literally my wife, my wife’s very frugal. She’s taught me to be even more frugal. She had our kids, you think
about them putting them to work. They are literally
making laundry detergent. She has bars of soap. They’re grinding it and
doing all that sort of stuff. So absolutely, it’s
something my family does. All Joe: right. And that’s why I’m glad this, it doesn’t
have smellivision attached to it. Dustin right there. Dustin: Smell good. It smells really good. It smells all perfumey. Joe: Absolutely. Dustin being the guest will
give you the last word. What’s your big takeaway. Dustin: There’s one sentence in here that
it was really, really good is actually the only secret that I know to get rich is
to grow your income and invest in income producing assets. I completely and
wholeheartedly agree with that. As I bought one property and started
making $350 from that one property in passive income, like that’s
literally not working. I worked 30 minutes a month and
so as I bought the next property. More money came in and as I bought the
next property, more money came in and I kept saving to buy that next property. So yes, you need to buy
income producing assets. I think out of anything that
is the biggest takeaway. Joe: Jason Parker not only is a a
fantastic financial planner out in the Seattle area, he also has. Sound retirement radio, which is not only
on the radio, but also is a podcast that you can listen to wherever
you’re listening here to us. Jason, last year was on talking about his
retirement budget calculator, and I know a lot of you started using that calculator. It was something I saw in our Facebook
group, people using and talking about, and it was really exciting. Well, Jason is back because they’ve made
lots of updates like he talked about a year ago. We want to talk more about
his calculator and retirement. So on today’s Friday, FinTech segment,
let’s say hello to our good friend Jason Parker. And on his way back down to the basement
from the sound retirement podcast. Mr Jason Parker’s back. How are you dude, Jason: Joe, thank you so
much for having me back. I’m doing great. Joe: Well, I’m glad that you’re here in
from Seattle and one cold place to another this time of year. Jason: This basement’s looking
better and better all the time. You must be making like big bucks
off this stacking Benjamin show. Joe: As you know, that’s
where all the money is. All the money in the
world is in podcasting. My friend Jason: these days. Your own TV show, you’re going to be
like the next Jerry Seinfeld to finance. I can see it. Joe: You’re sitting here looking at me. You know, I have a face for radio. That’s why we do audio. Because of that. Let’s get serious for a moment. You were on here about a year ago, and if
anybody has exploded our Friday FinTech segment, it was you. Um, because discussion in our basement
Facebook group about your calculator discussions all over the place. I read about people using it. And, and, and loving it and how
comprehensive it is, conversations about how even over the course of last year, you
kept adding on to it and adding onto it and adding onto it to make it better. A lot has changed in the last year. So I wanted to, uh, well, for people
that are new to the retirement budget calculator and also for people that know
what it is, but maybe don’t know a ton about it, tell us a, what it is and B,
how it’s changed since we saw you last. Jason: Joe, I’ve been a financial advisor
helping people walk life into retirement for more than 15 years. I think I’m getting close to 20 years now. Joe: You’re an old guy and I’ve seen it Jason: really well for people and I’ve
seen it go really poorly for people, and when it usually blows up, it’s not
because of their savings or investment performance. It’s usually because they overspend. And oftentimes they head into retirement. They really don’t know
how much they’re spending. They don’t have that
number really dialed in. So when I first started building this
calculator, I just wanted to give people a tool that was going to give them more
accuracy in terms of these future projections, understanding their spending. It’s not another Quicken,
it’s not another mint. This is not another Y, NAB. This is a tool specifically designed for,
I would say people are really passionate about are people that are
in that fire community. You know, people that are. Financially independent, retired early
because again, if you look at somebody like mr money mustache, he only had saved
about a million dollars before he retired. The reason he’s able to retire so early is
because he’s radical about his spending. The guy, you rides a bike to work instead
of driving a car, and so the retirement budget calculator started out being
radical about understanding spending, but not just your spending today. How that’s going to change over time. Because a lot of people when they
retire, they want to travel more. So we got to increase the travel budget. They’ve got a mortgage
that’s a fixed expense. It’s not going to go up with inflation. It’s going to get paid
off at a future time. And what I found was there was no tool out
there that allowed people to model their spending. It’s the number one most important thing
that people need to understand is how much do you spend? There’s actually three important
numbers, but that’s the most important. Joe: Well, okay, come on. You can’t leave us with one. Everybody’s sitting there. I know somebody out there running this
morning or whatever time you’re listening and they’re going, okay,
Jason, what are the other two? Then. Jason: Give us the good stuff. So, okay. Uh, number one is spending. You’ve got to understand your spending. Once you understand your spending, you can
do a real simple exercise if you want to follow the 4% rule, take whatever your
annual spending is, multiply it by 25, and it’ll give us an idea if you’ve
saved enough for retirement. But the next piece is we have to
understand how much you’ve saved. We have to understand your net worth, your
liquid investible net worth, not just your not including real estate
and assets that aren’t. Necessarily producing income for you. Cause retirement’s all about cash flow. And then the third number that we’ve built
into the retirement budget calculator is time. So we have to have some idea
of how long you’re gonna live. And the way that we do that is we
use the data from the social security administration. So we’re giving people an actuarial look
based on a large group of people, how long they may live. So for example, if you’re 65 years
old today, you’ve lived 23,725 days. If you live to life expectancy as a 65
year old man in the United States, you’ve got about 6,205 days remaining. One of the reasons this is so important,
Joe, is what most people are trying to understand is, is my money
gonna last as long as we will? Can we have the lifestyle
that we want in retirement? But the other thing is we want to create
some urgency for people because they, I meet with people all the time that will
continue to work to 70 and beyond thinking they have all the time in the world. And the reality is time is
your most precious asset. So. . We want to encourage and inspire people
to recognize that you may not have forever and you want to live
your best life right now. And so those are the three numbers on
really be granular about your spending. Number two is really understand
your liquid net worth. What’s going to support your income and
other cash flows if you have real estate investments, and the number three,
how long does the money need to last? We’ve built all three of those
components into the calculator. So again, when I built this thing,
originally, it was all about being just fanatical about spending some of the
things that make the spending side. The budgeting side unique is number one. Uh, you can assign a different
inflation factor for every expense. So, for example, if you have a mortgage,
your taxes and insurance will go up over time, but the mortgage payment, the
principal and interest, that’s going to be a static payment is going to
get paid off in a future point. So we don’t inflate all of your expenses,
but things like health care, maybe you want to assume more like a five or
6% inflation factor on healthcare. So we just need to understand that not all
expenses are going to increase the same way over time. And then we allow you to
start and stop expenses. Maybe the first 10 years of retirement
you’re going to, you’re going to spend, you know, an extra 10
or $20,000 on travel. Well, you, but you want to see that
expense going away 10 years down the road. Retirement budget calculator
allows you to do that. And uh, yeah, it’s, I mean, it’s
just, it’s a very comprehensive tool. I’m really excited when, I don’t know if I
told you this or not, but I have a friend who, I think a mutual friend,
actually Roger Whitney. And he has something called
the rock retirement club. And Roger sent me an email the other day
and he said, Jason, you know, I did a blind survey of my rock retirement club
members and I just ask them, what’s your favorite calculator out there
for retirement planning? Uh, he came back and said, they, it wasn’t
multiple choice, it was just fill in the blank and overwhelmingly
retirement budget calculator one. And here’s what one of his customers wrote
to me, one of his rock retirement club members. He said, I’ve been using your
program and I’m enthralled. I have looked at about 40 different
retirement programs, but never found one with such specificity and predictability. PS, you might want to know that you won
the rock retirement club survey of the best calculators probably into that. So, I mean, the cool thing is we
really are building a community. We’re, we’re building a tribe. And one of the things I want to make sure
your listeners aware of, you’re right, we’ve been adding onto the calculator. We’ve added some new features I
want to tell you about in a minute. But it’s not done. I mean, we keep building it, keep making
it better, making it better, and making it better. So when you become a part of the
retirement budget calculator community, when you sign up and you pay for the
calculator, I want people to know that the money that they’re spending for the
calculator has given us the resources to continue to build it. So if they’re just looking to try to get
a good deal, get in and try this thing out and then get back out again, we’ve made
that really easy for them to opt out. So we give people a 14 day free trial
before they’re charged anything. So if they can, they can get into the
calculator and if they don’t like it. Doesn’t meet their expectations and they
can just cancel, uh, during those first 14 days, and we won’t charge them anything. Joe: Ever since I was a financial planner,
I’ve been looking for robust calculators and planning tools and it’s always been
frustrated me, Jason, like it may be for you on the consumer side. I didn’t get anywhere near
the robustness that I wanted. And I’ll give you an example,
and I actually liked this tool. Fidelity has a, has a retirement tool that
gives you red light, yellow light, green light based on how you’re
doing for retirement. And I like it and it’s super simple, but
the number of assumptions under the hood are mind-bending. And I’m not really sure
where that number comes from. I’m not sure exactly why. And for anybody that asks the number why,
and this is not a knock on fidelity, I think. Fine tool that people just want just a
free, quick glimpse, but if you’re really serious about planning your retirement,
I think being able to turn on and off income, I think is a big thing, right? Where your income source
is going to come from. Being able to turn on off expenses
like you said, and then also. I think people don’t understand enough. This idea that different things inflate
at different, at different numbers. As an example, I mean,
you know, cost of college. If you had a child late in life and
you’ve got a plan college a few years into retirement for somebody, even for
yourself, if you’re not inflating that it was seven or 8%, you’re screwing up. Jason: Man, you know who’s
worse, the worst people at this? Because again, I get to walk life with a
lot of real people on this journey into retirement. People that are really high income, so
the doctors, the dentists, the pilots, the engineers, people that are making a couple
of several hundred thousand dollars a year are the worst at really
understanding their spending. And they’re the ones that the. Biggest risk of running out of money in
retirement, and let me tell you what, if you saved $10 million, but you’re spending
seven $800,000 a year, you’ve got the same problem. It’s the guy that saved $1 million. It’s spending 60 or $70,000 a year, right? It’s what happens for so many of us is as
our income goes up, our life, our spending goes up. A friend of mine once said, the luxuries
of yesterday become the necessities of today. And there’s just so many things that we
spend on that we don’t even think about. Like for example, my wife, we, she
has this Honda pilot’s paid for. We don’t owe anything on it, but just the
other day I had to bring it in for 75,000 mile tune up and do the oil change, and I
can’t remember everything we did, but it was a $2,000 expense. Those types of things happen all the time. Most people don’t include it as part of
their spending plan and it really blows up their life. So the spending is so key. But what really set the, the retirement
budget calculator up, I mean, when people really got started to get fanatical about
this was when we, uh, we created something called the future view tab. Because when you know the spending that
and you know the assets and you know the timeframe, then you can put this all in a
sheet, kind of looks like a spreadsheet, and you K O you can say, okay, here’s my
spending at year 62 63 64 65 here’s how it’s going to change every year. And then you can see here’s
how much assets we have. Here’s the shortfall between the income we
have coming in and the expense going out. Here’s the withdrawals that we’re going to
have to take from the retirement portfolio to make the numbers work. And then we have to make some assumptions
about rate of return, and we give people different ways to model that. So what we do is we say, look, if you just
want to assume a simple 3% return every year, you can plug that in. If you want to use like a 60 40 stock bond
portfolio and model the performance of how that would’ve worked over
time, you can plug that in. And so we’re just allowing people
to really understand these numbers. And this is not a tool if
people aren’t numbers oriented. My wife as an artist,
she’s not into numbers. So for people that are not numbers
oriented, I would say this is probably not the right tool for them, but people that
really want to understand, they want to have a greater sense of confidence
as they’re getting ready to make this transition into retirement. That is what the calculator is really
going to help people do have a better understanding of how the
numbers are going to work. Joe, the other piece that we just recently
added to the calculator is something called the buckets tab. A popular idea for cashflow in retirement
is that people want to diversify their money based on when
they’re going to spend it. So the idea is money that you need in the
short term, the first one to three years, say you want that money to be relatively
low risk, safe, secure, and guaranteed. Maybe just in a high yield savings account
or money market account somewhere where you can’t lose, right? Because you’re, you’re going to be
using that money for income withdrawals. So what we built into the retirement
budget calculator is we say, okay, assign, go ahead and pick which day you’re going
to or which year you’re going to retire, and then the calculator can, because it’s
smart, because we have all this data, we can say, okay, here’s how much
you need to allocate the bucket. Number one, here’s how much needs to be
allocated to bucket number two, here’s how much needs to be allocated a bucket. Number three, because it’s just taking the
shortfall between spending and your assets and saying, let’s
allocate these resources. Conservative for the money that we need in
the short term, and we take more risk with the money that we don’t need
for a long period of time. So that was another cool feature
that we just recently had. Joe: Weed solves a huge problem that
I used to see when I was a financial planner. And I’m sure, Jason, that you see this all
the time, is that people go one way or the other. They either a, they retire on a day. And they immediately take all of their
assets and they get really conservative as if you’re going to spend all
that money in the next 24 hours. By the way, I want to
be there for that party. If you do that, if you are going to do
that, please invite me, but realistically, that’s not going to happen. You’re going to spend a little piece of
it and on the other side, I’m sure you see people like I used to wear, they forget
about the short term expenses and then. Me w you know, I finished my career during
the 2007 2008 or just after that low, a 2009 so we were already
recovering was when I bowed out. But during 2000 2001 2002 and during 2007
2008 you’d see people that totally forgot I might need this money soon,
and they did not get out. And then they’d come see people like you
or me later on and go, how do I fix this? Well, it’s, it’s a
little late to fix that. Jason: Yeah. One of the things I wanted before I
forget, I wanted to let you know that for your community, we created a special
coupon code, but it’s a limited resource. And so the first 500 people that sign up
using the coupon code stacker, we’re going to give them 50% off the annual cost. So right now it’s $95 a year is the annual
cost to be part of the retirement budget calculator. But for your community, for the first 500
people that sign up, it’s only going to be $47 and 50 cents. Not just this year, but every year that
they keep the calculator, they’re going to get that 50% discount. So I just, I wanted to make sure you knew
that we put together the special offer for your audience, but once 500 people
have been hit, we got to cut it off. I can’t, I’m generous, but I do want the
resources to keep building this thing. Joe: So what’s up with that? I D. what I do have to say to that, uh, Jason
also a year ago when he and I talked, we had a long talk about the
retirement budget calculator. I looked through it and we actually talked
about doing something that I don’t do very often, which is we are affiliated, which
means you also help the show when you buy the retirement budget calculator. Do not buy this. As a donation to stacking Benjamins just
send me money, but if you need, but if you need a, if you need a calculator, I was
very happy to get behind this calculator and I was so happy to see the number of
people that a year ago bought it and the success that they’ve had and how robust
it’s been, it’s and how it’s, it’s continually, it’s continually
getting even more robust. I’ll put it up against any calculator that
you can find on the consumer side already. And yet. You’re still, you’ve got stuff you’re
working on now that I’m just going to make it even better. Jason: Yeah. Let me tell you one of the biggest
shortfalls of the calculator right now. Today, it has to do with taxes. So the way that we have tax, Joe: that’s a shortfall
for all of us taxes. Jason: Well, the tax is the way that
we built it is as a dollar amount. So a lot of people understand how much
they’re paying the taxes, cause they can look at their pay stub and see the dollar
amount that’s being deducted on each pay stub. But the retirement budget. The calculator, you have to have some
knowledge of how much money you’re going to pay in taxes in terms of dollars. And then on that future view tab, we were
going to give you the ability to have an idea if your effective
tax rate looks reasonable. But that’s an area that I
would say is a shortfall. I mean, you have to enter in numbers. So I always tell people when in doubt. Enter more than what you think it is. Just to be on the safe side. Joe: Almost like with social security,
try to plan on less, right, or or none. Jason: Or you bring up a great point
though, retirement budget calculator. You can plug in social security
income, you can plug in pensions. If you have income coming from rent a
rental properties, you can plug that in. You can assign a different inflation
factor to all of those income sources. So. It is just a really robust, and like I
say, I’m having a ton of fun building it. Uh, the response that we’re
getting from our community is huge. We want people to try it and for this
first 14 days, and if it’s just not what they thought it was going
to be, it’s okay to cancel. You do that yourself. You don’t have to send an email. You just click on my account and cancel
the thing and don’t be a part of this. And I just really want to emphasize,
I don’t want, I really want to build a community of people that are excited. I almost think of this as
like a Kickstarter, right? It’s like we want people that are
passionate about building a really good tool that’s going to make their life
better and that we want them to be a part of that process. If they’re more of a taker
than a giver, it’s okay to not. Be a part of this thing. I’m okay with that. Joe: To get there, we set up a link on the
stacking Benjamins site, which actually will take you right to the calculator. It’s just very simple because there’s only
one calculator that we recommend, and it’s this one, so it’s Stacie,
Benjamin’s dot com forward slash. Calculator. It’s very, very, very simple. There’s not going to be five of them or
three of them, or choose between these two Stuckey, benjamins.com forward slash
calculator takes you right there. Jason: Or even easier when they go to sign
up, just put in the coupon code stacker and they get that special coupon code. Joe: Oh, sure. I’m talking about just going to the site
though, so they don’t have to, you know how hard is to remember retirement
budget calculator versus Jason: stack road? It’s a real, you can tell how
how creative of a person I am. I’m much more of a a numbers nerd entity. I created it. Joe: You are creative though, my friends. So tell me, so you have a radio show slash
podcasts that I love and a lot of people, maybe there’s a lot of people listening
that love it, but always we have people that are looking for new
fun things to listen to. Tell us what’s coming
up on the show as well. Jason: Well, we bring experts
from all over the country. I’ve been doing my show for 10 years, Joe,
but I want to warn people they’re probably going to be offended when they visit
sound retirement radio or sound retirement planning. And the reason is, um, and I just
encourage them not to listen if this is offensive to them, but
I share my faith openly. And I get all these one star reviews on
iTunes because people are mad that I’m sharing positive, uplifting,
encouragement stuff. So I just wanted to let people know that
if that’s offensive to him, please don’t listen to the podcast because
man, there’s one star reviews. They kind of tear up my heart. I just, I’m really trying to put good
information out there, but I believe. Uh, strongly the foundation of my life. I see the world through
a certain set of goggles. It’s, you know, my belief system. And so for me to not share that, I just
feel like that would, I wouldn’t be genuine as a person. And I think that’s where people really
get clarity, confidence and freedom is not from their money, but from their faith. And so for me, that’s really important. So just so your listeners know,
if that’s offensive to them. Don’t listen Joe: well. Well, that’s, if you’ve seen our one
star reviews, if people, you know, people always complain that they don’t get enough
nuggets, and I’ll just tell you, Jason, just keep making the show for you. Big guy. Just keep making the show for you and you
know, as you’ve seen, you find your tribe and who’s not your tribe. Jason: Yeah. And I think of it because when you
record something, it has a potential vote forever. So everything I record, I think, man,
somebody, my kids, my grandkids could be listening to this. I want it to be something that’s built
in the world up, not tearing it down. And so again, it’s a, I do
think big picture there. Joe: We should start doing that here. That’s some good advice. Maybe if we started making something that
was a little more evergreen and built the world up more like, this could be it. This could be a decent show. Jason: Joe, your, Joe: your show is so fun Jason: and it’s lighthearted. I’m way too serious. I’ve got this problem. I can’t seem to have any fun. My wife is the fun one
in the group, not me. I’m the, I’m the nerd man. Joe: Well, when you come back next year to
tell us all about it, make sure you bring her along. Then. That would be great. Right. Okay. All right, man. Thanks for stopping by. And by the way, everybody, if you’re
walking the dog or you’re on your commute, we have you covered. We’ll have not just sound retirement
radio and links to Jason’s practice in his office, but also the retirement budget
calculator on our show notes page at Stacie Benjamin’s dot com Jason,
great talking to you again, my friend. Jason: Thank you so much. Joe: Hey there. I’m Joe’s mom’s neighbor. Doug, are you ready for my amazing trivia? Yeah, no, we are. Because this is the best little
part of the show, ain’t it? Okay, let’s, uh, let’s
get this party started. Shelly, you know today’s dentist’s day,
and I don’t know about you, but to get my money’s worth, I always eat a sleeve of
Oreos and not brush my teeth before I go to the dentist. Do you? Well, that always means that while I get
some quality chair time with my dentist, Larry. Later. I always need to take an
aspirin after the visit. Too much of a good thing. Damn. Maybe. So here’s your question. On today’s date, Bayer
trademarked aspirin. We’ll give you that. But here’s your question. In what year? Alright. We explained the convoluted rules
to this game, to Dustin backstage. Dustin, you got the convoluted rules. Understand exactly what we’re doing here. Dustin: No. Joe: Perfect. Absolutely perfect. Well, the first thing is we’re
playing a year long competition. Dustin, you’re playing on behalf of our
good friend Len Penso, whose birthday is the day that we’re recording
this happy birthday to Len. So he is not here with us. The score is, Oh gee has three. Len slash Dustin has two, and Paula. Paul, it says, you have zero here. What the hell is that about? Paula: I know, right? Wait a minute. Wait, wait, wait, wait. There was the one that I had. There was the one, remember it was, um, Joe: there was one there
is, you just scored one. Karen has it wrong cause you did, you got
the one where it was just you and O G and you were closest by just a couple. Paula: Yeah, I was closest to, um, OJI
was 20 off of the number and either 17 Joe: off. That is correct. So the score is O, G three
Len slash Dustin two and. Paula amazingly has one, but today,
Paula, maybe your comeback day. Do you want to guess first
in the middle or last? Paula: I will guess last. Joe: Alright, Dustin, would you like
to guess in the middle or first? I’ll go first. All right, so, Oh gee. Then second, so the date that bear was
trademarked, or, excuse me, the date bear trademarked aspirin. What year you think that was. Dustin: It seems like it
was quite a long time ago. I mean, when I was born, it was still
around, so I’m going to say somewhere on like, I don’t know, early 19 hundreds
let’s say, let’s just say 1900 I’m going to say the year 1900 even
though it’s probably not it. I’m going to try to get in that area. Joe: 1900 for Dustin. Oh, gee. Jason: Yeah. I feel OG: like it’s earlier than that. We’d have to know how old Bay
or was or is as a company. I’m trying to think of like if I’ve ever
seen any commercials of like celebrating our hundred and 50th anniversary or
something, and I can’t think that I’ve heard of anything recently where they like
still doing like bloodletting and stuff like that and the civil war. Do you think that they, do you think
that they had aspirin back then? I guess? I think they were still using
like cocaine or something. Right? Dustin: Morphine too. Yeah. OG: Well, a little morphine maybe. And then we’ve got trademarks. So then it’s like, when was
the trademark office started? So, uh, this is closest to, Jason: I’m going to OG: say, I’m going to say was before 1900. So I’m going to say a 18 and a 79, Joe: 1879 for O G Paula. Paula: I know I am not even joking. The minute that you asked that question,
the first number that popped into my head was 1880 but that has nothing
to do with, gee, the answer. That was literally the first
number that popped into my head Joe: and her under, are
you still going there? Paula: Oh, well, okay. Let me think about this strategically. Joe: So partially Chelsea, Brendan, them. Then you get the 10 years
between you and Dustin. Paula: Hmm. What happens if it’s 1890 and so then
we’re, uh, Dustin and I are equidistant from the answer. Joe: The good news is I know the month,
and so I think we’re going to pretend that it’s like, we’re going to pretend it’s
January that your guests, if you say the year is January, so
we’ll go with the month. Paula: Oh, wow. All right. So do I want to do a partial
Chelsea Brennan and have a. A birth of a decade, you know? No, I think strategically, I want to give
myself a wider window, so I’m just going to take it even further back. Hmm. . Yeah, no, I see. I see why this is difficult cause civil
war and, but then there would be probably a greater need for aspirin
with soldiers returning home. Uh, Joe: Oh Paula: Oh dear. You know what? Screw it. I’m sticking with, Oh, do I want to stick
with 1880 do I want to go to 19 funny, let’s just go with 1920 let’s do it. Joe: She goes to 1920 all
of a sudden out of the blue. Dustin: I’m curious, why would you not do
like 1878 so you get anything before that and then like 1901 and everything after. This is the closest to Joe: Dustin’s like, why would you play
the modern version of Chelsea Brennan? I know dude dude’s here for the first
time, and he’s already trying to Chelsea Brennan the answer. Paula: Yeah, yeah, yeah, yeah. OG: Too late. Joe: She did say answer. All right. We would love to tell you right now at the
answer is, but of course we got to make you wait for just a minute. Dustin: Let’s be serious for Joe: a minute, folks, what are the odds
you’re going to win that lottery and to millions of dollars? You know the truth, but time and again,
you lay your hard earned money out for a ticket. Why put yourself through that? What if there were a better way? Well, here at stacking Benjamins
industries, we don’t think we know there’s a better way. We present today a game,
shorter surprise and delight. The interview, we call it
throwing your money away. Yeah. I was at the track the other
night and this fun little lady Jason: come up and she said, 50 50 raffle. Joe: Well, I said, no, thank you ma’am,
because I just got done and already threw $20 right in the trash. Nothing I like better than getting
my paycheck and throwing most of it OG: right away feels good. Paula: I was buying milk at the quickie
Mart yesterday, and they said the lottery was Miranda: up to Paula: $123 billion. Oh, all that hope. And then so much regret later. I knew what I do. Why? Just stepped outside and threw Joe: $50 into the trash. Paula: It felt amazing. Joe: Yes. You too could join millions of
Americans throwing money away every day. Then spend days and sometimes weeks
hoping that lottery, our raffle pays off. I could buy a new bass boat, take the
whole family to six flags, maybe get a four Wheeler with Dale Earnhardt’s logo on OG: it. Joe: Why fill your days building list
after list of items you’ll never win when you can just throw your money a way. And if you act now, we’ll throw in a free,
no obligation, lighter so you can upgrade your experience and just burn your cash Paula: without my free, no obligation
later yesterday and torched $72 Joe: from my wallet. Paula: No lottery from me. Thanks us Joe: B industries. Paula: That was fun Joe: and regret free. Throwing your money away available now,
wherever there’s a trashcan, toilet or garbage disposal. Well, Dustin, it’s funny because I, I said
earlier to Paula that I knew what month it was, and even Doug
said, it’s today’s date. So of course it’s March 6th of, uh, of
that particular year, but she said, 1900 how confident you feel, and now
after everybody gets behind you. Dustin: Uh, at least I’m, I didn’t say
like 1950, 19, 60, cause those are my first thought. But I’m like, no, it has to be
much further back than that. Joe: Did we have that when Gwen was on,
did she say that once you say was, was created in like 1969 beer sold in a can? We’re like, really Glen, that’s,
that’s a young, Gwen is a 1879. Oh gee. Feeling pretty good with that. Especially since Paula changed your mind. OG: I guess we’re going to find out. Joe: Yeah. Jason: Paula, OG: don’t feel particularly confident. Joe: Paula, you got 1920 OG: second guessing myself. Paula: Yeah. Yeah. Which means realistically, I have
everything from 1910 on through modern day. Dustin: Yeah. I’m just stuck right in the middle there,
so from now on, I’m never going to pick first. That’s like the dumbest spot to pick,
so I’m just, I have a tiny window. Joe: Dustin’s already
making notes for next time. He’s all set. All right. Doug, what’s our answer? Blog. I’m back trivia nerds. I’m Joe’s mom’s neighbor. Doug, and let me recap for you. There was this little German company
named Bayer, and they trademarked the word aspirin way back in the past. Well, my question was this. In what year did Bayer trademark aspirin? If you said 1920 club, not quite. It was earlier than that, but if he said
March 6th, 1899 you’d be on the money. How much money that trademark
made Bayer over the years. I don’t even know that they had medicines
back in the 18 hundreds I thought it was all like leeches. Potions and like spells. Well now they’re, I learned something. See, let’s get you back to Joe and all
these other yahoos talking around that rickety car table. Say, Oh, Dustin: that was
surprisingly a really close OG: shot in the dark. Jason: Yes, Dustin: I want to have the profits land. Joe: Yeah. You got to write London email now and tell
him that you get half of his big prize this year. I was amazed because I had looked ahead
to see what Doug’s answer was and when you said 1900 I was Holy. Right audit. And then I thought maybe, Oh gee, when
he said 1890 I thought you were going to Chelsea bread in them and go 1899 OG: 1899 that’s what I
was going to say, but, Joe: but then Paula would have taken 1898. OG: Yeah, exactly. Joe: So OG: I actually thought the answer was 1897
I said 79 but that would’ve disliked, see you there for a second. I was going to say 97 but
I still want have lost. So Joe: it was Impala, 1920
better luck next time, huh? Paula: Yeah, seriously. Okay. I, you know, since the new year began and
I, we stopped doing closest without going over, I discarded the Chelsea
Brennan strategy, but clearly. That is not working in my favor. So from this point forward,
Paula is a new Chelsea again. Joe: We’re two months into the new
year and I can feel it coming back, Paula: I guess. Yeah, it’s coming back with a vengeance. I had a soft soft first 60 days and now. The rest period is, is over. I’m ready for this sprint. Joe: Are you saying no
more miss nice guy, Paula. Paula: Exactly. Joe: Let’s Paula: take down here on the
assembling Hamilton show. Joe: Yes. The kinder, gentler Paula. While she’s here, let’s take out the
magnifying glass guys and help somebody do better with their money. Today’s hotline call comes to us courtesy
of magnify money.com you know what happens, Dustin, when you head to stacking
benjamins.com forward slash magnify money. Dustin: I’m sorry. Am I supposed to know something here? Joe: That is perfect. That is perfect. Well, this is what happens, Dustin. You find out those financial products you
use every day, your brick and mortar bank, that they’re nowhere near best in
class because it magnified money. They rate over 92% of the products
available online against each other. And you can see that the stuff you’re
using, you can be using way better online tools, head to Stacie, Benjamin’s dot com
forward slash magnified money, whether it’s checking accounts, savings accounts,
CDs, better credit cards, better student loan options, whatever it is, magnified
money, has it, and use our link to get there. Stuckey, budget’s dot com
forward slash magnify money. Now normally here. We play a call. However, we asked a question that I wanted
to draw everybody’s attention to and I wanted to get your take and
share some of the takes. So on my Twitter feed to average Joe
money, I asked this question, what’s your best advice for future college students
to fund their education when their parents can’t or won’t help them? I asked that question, so, Oh gee,
let’s start with you this time. Your best advice for future college
student to fund their education when their parents can’t or won’t
help them financially? OG: Well, I think there’s
two that come to mind. First, pick a really cheap school to
go to, especially initially like a, a. Community college. We talked earlier about making money and
there’s nothing wrong with taking five years to be done in a school or six years
to be done with school, get a job, or to go to night school and get the first 60
or so credits out of the way at the lowest cost possible. It serves a couple of purposes. Firstly. It’s inexpensive. And secondly, you don’t know what the hell
you’re going to do when you’re 18 and then until you start getting into into school
and started doing some classes and coursework, you may think, I’ll be the
world’s greatest accountant until you finish, until you go to do accounting
and realize you hate accounting. So you want to learn that on the
cheap, not on the most expensive. So mine is low cost community
college for the first Joe: little bit. It’s funny, our friend David Carlson
at young adult money agrees with you on Twitter. He said that this is a rare opportunity
because most high schoolers don’t think about the cost of a college degree. In this case, it’s tough to
argue against community college. First two years. He also says though, it partially depends
on what they want to get out of college. It’s easy for us to say community college
from our seats, but in reality, some will want to be at the same university for four
years, but OJI it’s still a cost benefit analysis you got OG: to do. Well, I didn’t. The question was, what’s the way to do it? If no one’s going to help you in a way to
do it, if nobody’s going to help you, is to it inexpensively. Joe: Uh, uh, Dustin, what do you think. Dustin: So I’m definitely one that I just
hate how much college costs, so, Oh gee, I’m right there with you. I think that’s a brilliant
idea, but here’s my advice. Don’t go to college. That’s my big advice and the reason why is
there so many ways to make money instead of going to college and getting a, not
much that now, I’m not saying that college is bad. I’m saying how much debt
you’re going to get in. There’s so many ways to make money. So for everybody or for everybody on the
show that’s watching this right now with Joe and O,G and Paul,
so this is my diploma. I actually got it in
wood, like it’s embossed. But I’m realizing I have this in a shelf
and I was like, why do I even have this? Like I’m successfully unemployed. I’m never going to work
at another job again. I’m going to blow it up. I’m literally going to catch it on fire. I’m gonna do a video where I’m
actually going to have fun doing that. I’m going to first get my kids BB guns. I’m going to shoot at it. Then going to get my bow and arrow. I’m going to get a gun. Eventually I’m gonna blow
it up and catch it on fire. The reason why is because. I spent a lot of money on it
and I will never use it again. So there are so many ways to make money. So everybody listening, this is an
advanced strategy, but don’t go to college. You’re gonna waste money, Joe: but you don’t think that you use the
skills that you learned in college or that maturation process of being there
for a few years was helpful. Dustin: I would say I learned two things. Number one, how to cheat, and
number two, how to cut my own hair. So those are the two
things that I learned. In all honesty, I probably did. I know what it cause I wouldn’t got
business degree, so I know I’m applying some of that stuff. But at the same time, every business
mistake that I’ve done running my own business. I’ve learned so much more than ever
going to college, but yes, you’re right. I have learned something but more what I
said was it’s how much it’s going to cost. That’s going to be so ridiculously stupid. That’s I just say, don’t do it
because it can cost so much money. Is that a giving a 50 60,000 loan to get a
piece of paper to hopefully get a job, use that money, buy a rental property, make
$350 a month, 250 to $350 a month in passive income. Save your money, buy another one. Do it all over again. That’s what I’m teaching my kids. Joe: Yeah. Our friend J Fleischman, student loan
lawyer on Twitter likes the same stuff that you’re talking about, Dustin. He says, don’t go to college in less and
until you know why in all capitals, you’re going to college if you’re just going
cause everybody else is going, which is why a lot of us went then don’t go, Paula,
no parents helping you with college. What do you do. First Paula: while you’re still in high school,
take as many AP classes as possible and at take as many AP tests as possible
because here’s the beautiful thing. You do not have to take an AP
class in order to take the AP test. And if you take the AP test, if you take
the exam and you score a three or a four, the scoring is between one through five. So if you score three or higher,
like a three, four or five, then. Most colleges are. Many colleges will grant you college
credit for that subject so you can buy the textbooks, read them on your own while
you’re in high school, take the AP exam, even if the, your high school
doesn’t offer the class. Take the AP exam and test out of a ton of
classes you can basically test out of your whole freshman year and then. After you’re finished with high school,
you can at any age of your life continue to do the same thing. Not with the AP exams, but with a
different company called , which stands for college level examination
preparation or something like that. CLE P CLEP exams. You can take at any time at any age, you
don’t have to take the course and you can test out of. Uh, or receive credit for
college courses again. So if you are self motivated and a self
starter and you’re willing to just buy the textbooks, read them on your own and take
the exams you can test out of the first two years and then only
pay for your junior Joe: and senior year. Similarly, a saving Sherpa said air force
ROTC, not part of your answer, but the rest of it is, by the way, there were a
few people that answered a different ROTC programs are using the GI bill. But he says lots of attempts on sat
act roam the web for scholarships. But the find ears answered that and said,
agree on studying and lots of attempts to act sat that got me full tuition for my
first year and half tuition for every subsequent year. I studied like crazy
and took it four times. Never could get above the threshold needed
for the full tuition for all four years though. But just act, sat prep. I mean on top of the stuff that
you’re talking about, Paula. Created a lot of money for five years. Paula: Oh yeah, yeah. Big money. Because with both sat and act, they
take your highest composite score. Basically. You don’t get penalized for
taking those tests multiple times. Joe: Good time to think
about that right now. For people in high school, maybe have
them, have their high schooler listen to the show a, they’ll find out how brilliant
Dustin is at bare related trivia, and then they’ll also maybe get some
ideas for, for college. Alright guys, that’s
gonna do it for today. By the way, if you’ve got a question,
usually we take a question in that segment. So if you’ve got a question head to
Stacie, Benjamin’s dot com forward slash, voicemail and uh, we’ll be happy to weigh
in on whatever your question is for us. We’re going to let our
guest of honor go last. So, Oh gee, what do you
got going on this weekend? It is OG: spring break. Starts right now. Joe: You’re doing the dad. OG: Yeah, but dabba do. No, no, no. I’m on vacation, man. It’s spring break. Is that what you’re doing in spring break? By vacation, I mean, my wife is taking my
middle kids skiing for four days, and I am not. Doing that. Joe: So you’ve got youngest and
eldest that you’re hanging out with. That’ll be fun. Alex OG: really wants to earn money, so we’ll
just make him, we’ll make him a babysit for the next four days, which I’ve
started paying my kids in dad bucks. Which is so comical to see them because
I’m like, Hey, thanks for watching the kids. You know, I’m just pay him, you know,
like a normal babysitter, right? So if Alex watches him and I just take a
piece, he’s like, Hey, so it’ll be like 10 bucks and you’re gone for an hour. Am I called on and I take a piece of paper
and like rip it off and like, and I just write like the 10 in the corner. And like a little stick man in the middle. And I’m like, dad bucks. And he’s like, dad, it’s not real money. I’m like, it’s just like real money. It’s like a credit card. Joe: It’s backed by the faith
and credit of your father. OG: Exactly. Full faith and credit. So mrs O G and a William are going,
they’re going to go skiing for a couple of days. It’s a Williams 10 year trip. So they’re going to do that. And then, um, uh, we’re
just going to hang out. So I have no plans. Oh, peace mounts of movie watching. I think. Joe: Oh, that sounds like fun. That’s always fun. Paula, what’s going on at the afford? Anything podcast Paula: on this same day that this episode
comes out on the afford anything podcast, a certain guy by the initials of J S S. Who hosts a podcast called
piling Washington’s. That guy joins me on the afford anything
podcast so that we can answer questions that come from the community, yes to the
answering of questions and want to hear some Joe saucy. Hi. Come on over to the anything show. Joe: There it is. You’re like, didn’t get my question here. Get all your questions on over there and
you and I have a ton of fun doing that. And every once in a while we have a
knockdown drag out argument where you are wrong. Paula: Joey said to Andrew, Joe: Oh, but easy on that. I should’ve, I should’ve never
told you my middle name, Dustin. I told Paula my middle name. And now she uses it like
mom, and it drives me crazy. Dustin: It’s not as bad as mine. I’m half Japanese. I’m saying mine’s bad, but mine’s Yoshio
and so Yoshio it’s a little bit more rough to hear when somebody says,
Yoshio Mike, is that me? Joe: But does your mom go, Dustin Yoshio? Dustin: No, she does it. My actual name is Dustin, but growing up
it was always dusty, and when I got in trouble, it was Dustin. Dustin. Joe: Yeah. So this whole experience, this whole
podcast has been like your mom is mad at you. As we say, Dustin, Dustin: I’ve kind of grown out of
that, but it’s been a long time. I mean, it’s been, uh, after slow
and gradual cuts here and there. Eventually I worked out to
where Dustin’s just fine. Joe: Well, tell us what’s going
on at successfully unemployed. You know, as you mentioned, there’s only
one other person who listens to the show, so you can share all the secrets
about what’s coming up soon. Dustin: Yeah. So I have every types of way to quit
your job, basically to be successfully unemployed. And so right now I believe it’s coming out
where I’m interviewing somebody who was working as a physical therapist, no,
sorry, a physical trainer at a CrossFit gym, and then it was going to close down. So his job was a trainer
at this CrossFit gym. It’s going to close down. The guy says, I’m going to close it up. And the guy that’s a
physical trainer says. I’ll buy it and he’s okay. Well, so anyways, worked it
out to where he bought it. He’s been running it for like five,
no, maybe like eight years now. Doing fantastic. He loves what he does. And so just somebody just training
buys a business, has a business now. And so we, I interview so many people
just like I’m literally sitting in his gym interviewing him in front of the
camera and yeah, it’s fantastic. So I just try to find as many people who
have another way rather than working for somebody else and adjust Overbrook job. And that is how I, I just. Love talking to more
people about business. Joe: That is so awesome. I can’t wait to listen to that accidental
entrepreneur and probably way happier now than he did it too. Dustin: Oh, he is so happy. He has his own people that
he is around all the time. He, he literally turns down people,
people want to work out as Jim. He’s like, no, I don’t like, his
personality is really fun, Joe. You would absolutely love him. And he goes, no, I don’t like you. You’re not going to work
out here and that’s great. Joe: Get out of here. Uh, and we’ll link to successfully
unemployed Dustin’s podcast. We’ll link to afford
anything we won’t link to. Oh gee, a nickel and diamond his kids. We won’t link to that, but everything else
will be at our show notes page at Stacie Benjamin’s dot com. All right, Doug, you got
it from here, my friend. What should we have learned today? So what should we have learned today? First we learned that maybe just shrinking
your expenses isn’t the magic formula for getting ahead in life. Yeah, just might have to earn more. If you want to find
bigger and better success. Second retirement, maybe you need
more than just some rules of thumb. Tools like Jason Parker’s calculator
will help you figure out ways for your retirement nest egg to last a long time. But the big lesson. Remember to brush your teeth daily to
make it an easy time at the dentist. Turns out that getting lots of dentists
chair time now equals big bill in the mail time later. Special thanks to Dustin Heiner for
coming to the basement to discuss what the biggest lie is and how to quit our jobs. You’ll find Dustin on his YouTube channel
successfully unemployed or on our show notes page. Also, thanks to Jason Parker for joining
us in our FinTech segment to talk about his retirement calculator. Interested in checking it out. We have an affiliated Lake. You can help the show and help
your retirement if you use it. Stacking benjamins.com/calculator
Paula Pitt appears courtesy of afford anything.com and afford anything podcast. All the afford anythings. This show is created by Joe saucy high
producer by Karen rapine and engineered by the amazing Steve Stewart online. Visit us on Twitter at S Benjamin’s
cast, or on our Facebook page. I’m Joe’s mom’s neighbor, Doug, and it
appears I’ve fallen and I can’t get up. As SPI podcast may receive payment on the
show from sponsors and guests in the form of books. Give away items, discounts,
or other remunerations. That’s a PayPal word. There’s no way you take advice from these
doors, but like Joe’s mom always says, don’t take advice from people yet. Don’t know. This show is for entertainment purposes
only and before making any financial decisions. Consult with a real financial advisor. Welcome to the after show. This is the part of the
show that doesn’t exist. What happens in the after show stays here. If you have to talk about it, you can talk
about dessert, but no, no discussion of this segment outside of that. Guys, you know this piece that Miranda
read for us of nix was called the biggest lie in personal finance, and
it made me think about lies. And about lying. And I was wondering if there’s any lie
in your life that stuck out, either a lie that you told or a story about a lie that
you liked or maybe somebody lied to you and you were, you are onto them. And when got one of those, Paula. Paula: So this was seven or eight years
ago, I was touring a potential rental property that I was thinking about buying. It’s a triplex and one that I didn’t
ultimately did not end up making an offer on. Um, but I was looking at it and
I was with a real estate agent. And when we walked out, I knew
that the water and sewer was wood. They were not separately
metered for each of the units. You know, the, there was just one water
and sewer line for the whole house. And typically in that area, you
know, landlords pay for that. So as we walked out, I turned to the agent
and I said, Hey, do you know how much the monthly water bill is? And if she had just said, Oh, I don’t have
that information off hand, but I’ll get back to you. That would have been fine. You know, that, that, that would’ve
been the appropriate answer. But instead what she said was, well, I
don’t know, but if it’s high, you can just raise the rent. Joe: Ah, Dustin: red flags. Paula: Oh my goodness. Oh my goodness. OG: It’s not wrong. Joe: Ah, yeah. There’s not really a lie. Paula: It was, it was just sequel. It was deceitful, you know, and I was, if
this was eight years ago, I was 28 years old, you know, I’m like young, naive kid. I didn’t know much at that age, but I knew
just enough to know that she was full of BS. OG: But I know you’re full
of crap in the background. It’d be neat. Joe: Oh boy. Paula: So like, just imagine that scene. Imagine being a real estate agent with
like this 28 year old girl who’s living with roommates, like scraping together her
freelance writing money to try to put a down payment on, like of broken
down fixer upper triplex. And you’re feeding her though
that kind of spoonful of crap. Like, please, Joe: please, OG: well, we might as well turn this into
a things that have not blown up in your face when you own a rental property. After show, I got to believe
Justin, and you’ve got something. So since Paula kind of tore the bandaid
off here on that one, I will add my 2 cents to this. I had a, uh, currently own a triplex
plaques that we’re remodeling and has been under remodel for. Eight months, which is
just obnoxiously insane. It’s a really old building, so it’s got
all knob and tube, electrical in it, and so I said, Hey, while the tenants are out
there, there’s two of the three tenants are out. I said, why don’t we
rip all the walls off? Let’s reinsulate it will rewire it. You know, my threshold is I want a place
nice enough that I would live there. Also, I’m not interested in being
a slumlord, you know what I mean? And this place had seen better days. So we tear the walls off one construction
crew, guts it all, and they, the guy calls me, the property manager calls me and
says, well, we can do the electrical one or two ways. He says, uh, you know, I’ve got a buddy of
mine that knows how to do electrical work. It’s going to be 1500 if you want to
pull permits and you know, government. Jason: Yeah, but he’s OG: like, he’s totally
like, if you want to go that Dustin: route Joe: and do it the legal OG: way and it’s going to be 7,000 and I
said, well, as a, it’s not your liability. If the place burns down because of faulty
electrical work, we’re going to do it the right way. And I know it’s way more. So that’s okay. So I go up there, he says, all
right, all the electrical is done. I go up there and I walk around. I kind of show up randomly from time to
time at property because you know, then they can’t prepare for you. You know what I mean? Either you just show up
and go, Hey, I’m here. Jason: Give me the keys to this OG: building. I want to walk in it real quick. And you could just see whether or
not they’re like, Oh yeah, sure. Or if they’re like, ah, yeah, I think
bill Scott, I’m, he’s over there right now doing stuff, you know? So anyway, I go in the
building, walk around. I’m like, well, this isn’t right
and that switch isn’t done. And I can tell, you know, it’s all gutted
so you can see where the electric works done. So it’s not done. So I said, well, it has to get done. Guy’s like, well, we’ll get it done. So then he sends a bill, an invoice for
half of the amount due, and I said, uh, yeah, sure. Absolutely. I appreciate it. You got it all done? He goes, yep, it’s all done. I said, okay, great. I’m just for my records. Just send me a copy of the permit
real fast in the in city inspection. I just want to put it
in the file, you know? So when I go to sell it, I
can go, look, I did this. Uh, yeah. You know, I think Tim’s got
that at his desk or something. Let me check. Well, obviously, you know
where this is headed. Joe: No permit. OG: I said, listen, we’re not, I’m not
paying you a dime until it gets permitted. So I look just plain as day says,
well, I talked to the electrician. The inspection happens
after you do the drywall. And I just said, I said, I won’t say his
name, but I said, you know, I said, bill, I know you think that I’m just some dumb
a hole from Texas, but you and I both know that that’s not right. And if you don’t know
that, that’s not right. We got other problems. Oh, let me talk to Tim. Well, magically they got a permit. So anyways, Joe: inspected it after. It’s all done. You can’t look at it after. It’s all buttoned up. It’s amazing. OG: Inspector come in. Joe: It’s amazing how that works.

One Comment

  • amazing video keep up the good content

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