How to Money

Holiday Special: 2025 Lessons, Risky Bets, and an Alaska Surprise (BONUS EP)

Podcast: How to Money
Hosts: Joel Larsgaard & Matt Altmix
Special Guests: Joe Saul-Sehi and the Stacking Benjamins team
Date: December 27, 2025

Overview

In this upbeat holiday bonus episode, Joel and Matt join Joe Saul-Sehi’s Stacking Benjamins podcast crew to reflect on the biggest money lessons of 2025 and look ahead to 2026. The conversation is light-hearted, packed with friendly ribbing, but digs deep into the year’s most consequential financial trends—risky investments, changing views on homeownership, AI’s impact, and the timeless wisdom of ignoring political noise in favor of personal financial action.

Key Discussion Points & Insights

Opening Banter & Bestie Energy

• The hosts joke about coming in “second place” in a recent charity fundraising competition, highlighting strong communities in personal finance podcasts (15:28).
• Notable Quote:
  “I was feeling pretty good about myself, about our listeners, Joe, until you started rubbing our face in the fact that...you curb stomped us on the...daff. You’re talking about the Daffy Challenge, right?”
  —Matt (15:44)

Takeaways from the Voices for Good Challenge & Charitable Giving Trends

• Both podcasts raised substantial amounts for financial literacy nonprofits, like Undo Medical Debt and GiveWell-vetted charities.
• Undo Medical Debt (formerly RIP Medical Debt) highlighted for its high-effectiveness—buying and forgiving debt for pennies on the dollar (19:28).
• Matt stresses the value of effective altruism and maximizing charitable dollar impact globally, while also giving locally.

[22:20] The Top 5 Money Lessons of 2025

Each takeaway is presented in David Letterman-style reverse-order by Joel and Matt, with commentary from the Stacking Benjamins crew.

#5: Emptiness of Political Promises

• Main idea: People increasingly look to government for solutions (e.g., student loan forgiveness, tariff rebate checks), but real, lasting financial progress comes from individual action, not policy changes.
• Key Points:
  • Political headlines create anxiety, but most are “empty promises.”
  • The most effective personal finance moves are independent of temporary political changes.
  • Stay focused: “Circle of Influence” (Stephen Covey) over “circle of concern.”
• Memorable moment:
  “I think there are so many people who are looking to government on both sides of the aisle... and they're looking to the government to fix all their problems. And what I love about personal finance is ... it’s not about policy.”
  —Matt (23:08)

#4: The Year of Riskier Financial Products

• Main idea: 2025 saw a dramatic rise in people pursuing alternative and riskier investment avenues—private equity inside 401(k)s, day trading options, and leveraged ETFs.
• Key Points:
  • New products feel “sophisticated” but come with high fees and huge downside risk.
  • The allure of quick gains is amplified by social media and gamification (see Robinhood’s features).
  • Novelties and shortcuts rarely end well—slow, boring index fund investing still wins.
• Quote:
  “When people are exposed and allowed to invest in more financial products... oftentimes those lead us astray and they lead to higher fees... we've seen some of those things come crashing down.”
  —Joel (27:49)
• Chutes & Ladders Analogy:
  “You want to catch all the ladders, but... there’s all these potential slides that can send you tumbling down.”
  —Joel (31:48)

#3: Renting Is Not Throwing Away Money

• Main idea: The classic wisdom that homeownership is always the cornerstone of wealth is changing—especially in the current economy, where renting can lead to greater savings and flexibility.
• Key Points:
  • Down payments are out of reach for many, and economic cycles shift buying-vs-renting math significantly.
  • Automatic investing platforms make it easier than ever to grow wealth without owning a home.
  • Job security and mobility play a bigger role in housing decisions than ever before.
• Quote:
  “...Just because individuals, our parents generation... say ‘You guys understand how much my wealth is because of this property,’...now it’s easier than ever for folks to use platforms... to invest in the market in a way that was inaccessible to our parents.”
  —Matt (35:31)
• On Job Stability:
  “People are working more jobs, moving more frequently than they have even in 2011.”
  —Joe (38:03)

#2: Government Shutdown—Plan Ahead for Bad Times

• Main idea: The record-long government shutdown in 2025 is a stark reminder that no job is immune to disruption. Having an emergency fund and a “bare bones” budget ready is crucial.
• Key Points:
  • Government jobs were once synonymous with security; no longer true.
  • Everyone should know in advance what expenses to cut in a crisis.
  • Liquidity (cash) is more valuable in emergencies than paying down low-interest debt.
• Quote:
  “Guess what really sucks? To get laid off on a Friday and then Saturday be like, what are we going to cut?...Having done that exercise puts power into your hands...”
  —Joel (39:54)

#1: Artificial Intelligence—The Game-Changer

• Main idea: AI was the story of the year, affecting everything from stock markets, workforce dynamics, and personal finance tools.
• Key Points:
  • Rapid AI advances fueled “Mag 7” stock run-ups and market speculation—are we in a bubble?
  • AI is replacing entry-level jobs (12% of workforce at risk), provoking a re-evaluation of college value and career planning.
  • In personal finance: AI is a valuable tool (e.g., fighting medical bills, finding info), but errors, misinformation, and over-reliance are big risks. Discerning use is key.
• Quote:
  “If at any time in my life I feel complacent and like everything is safe, this year proved that may be wrong.”
  —Joe (51:43)
• On College & Career:
  “There’s something like 30-year-olds are saying: ‘But I was told to go to college and everything would be fine.’ I think we’re seeing a generational shift.”
  —Joel (50:43)
• Podcast Humor:
  “Well, the great thing is [AI] can’t touch podcasting, right?”
  —Joel (54:42)
  “No, not at all.”
  —Joe (54:45)

Listener Questions & Interactive Segments

Call-In: "Santa Nick" asks about Trimming His Holiday Budget

(64:51)
Santa (in a tongue-in-cheek call) bemoans rising costs of gift-giving, joking about socks full of junk and gluten-free cookies.

• Answer: The team discusses family traditions, defining limits, and the need to sometimes “just say no” as loved ones grow up—e.g., scaling back on gifts for older relatives. Also, the importance of seeking additional income streams if cutting isn’t enough.

Year-End Investing & “Prediction Markets” Warning

(70:14)
The crew picks up a headline about the expansion of “prediction markets” like sports betting overlaps in financial markets.

• Points:

  • Prediction/gambling features (Robinhood, etc.) make risky speculation easier than ever—dangerous for the average saver.
  • Advisors recommend labeling this “entertainment capital” and keeping speculative plays minimal so they don’t derail your real plan.
  • Social media and gamification amplify the appeal and visibility of unlikely wins, distorting perceptions of risk.

• Quote:
  “Once the plan is good to go, then everything else is fair game. … What’s wrong is if you do that and your plan is blown up, and it doesn’t matter if you’re blowing your plan up because you’re day trading crypto or betting on football outcomes, or because you’re blowing too much of your money on exotic trips … all of that leads to the same graveyard.”
  —Doug (80:33)

Notable Quotes & Memorable Moments

• On Homeownership vs. Renting: “You have to just kind of like lick your fingers, stick it up to the wind and be like, what's going on right now? ... You're going to save a lot of money renting in 2025; in 2011, that wasn't the case.”
  —Joel (36:30)

• On Novelty & Investing: “Are we or are we not more distracted, more ADHD, and we're looking for the next new, shiny, bright thing?”
  —Matt (30:07)

• On Planning for the Worst: “This is obviously the emergency fund. Everybody who listens to this podcast knows about that. It's also something we call the bare bones budget...”
  —Joel (39:54)

• On AI & Careers: "If you are in an industry that is a bit more dynamic right now, you gotta be aware, you can't just blindly enter and hope for the best."
  —Matt (49:22)

Episode Timestamps of Key Segments

• 15:28 – Charity fundraising wrap-up, friendly rivalry, discussions of charitable giving.
• 22:20 – Countdown begins: The 2025 Money Lessons (Political Promises, Risky Products, Renting, Emergency Planning, AI)
• 35:31 – Housing & homeownership debate
• 39:54 – Biggest lesson from the government shutdown: work security & emergency funds
• 46:48 – What’s #1 lesson of 2025? (AI and its impact across the board)
• 54:42 – AI and the future of podcasting (humor)
• 64:51 – Santa Nick’s call: holiday budgeting pains
• 70:14 – Risky “prediction markets” investing segment
• 80:33 – Entertainment capital and guarding your plan

Tone & Style

The episode is full of warm, best-friends energy, with plenty of jokes and playful digs (especially over the fundraising contest). The tone is friendly, optimistic, sometimes irreverent, but always focused on practical, actionable financial guidance. Both “How to Money” and “Stacking Benjamins” live up to their missions: making sound money management jargon-free, accessible, and genuinely fun.

Closing Thoughts

Joel and Matt reaffirm their commitment to “keep podcasting until the AI rips the mics out of our hands.”

• Long-term thinking, focusing on what you can control, and discerning skepticism toward novelty and headlines are the real winners, whatever the year brings.

Matt: “Every time I try to go like the short-term route, man, I end up screwing things up. ... Don’t do that.” (56:03)

Joel: “That's honestly how you win in personal finance—taking that long-term approach.” (56:36)

[End of Summary]