01.08.25 New Year, New Job / Your Longevity

Summary

The Clark Howard Podcast Summary

Episode: 01.08.25 - New Year, New Job / Your Longevity
Release Date: January 8, 2025
Host: Clark Howard

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Introduction and Overview

In this episode of The Clark Howard Podcast, host Clark Howard delves into pressing issues surrounding the modern workforce, personal financial management, and health optimization. As the new year commences, Clark addresses the challenges many face in their careers, offers solutions for financial well-being, and provides insights into maintaining longevity and health in a fast-paced world.

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Main Discussion: Navigating the Modern Job Market

1. Worker Dissatisfaction Reaches Unprecedented Levels Clark opens the discussion by highlighting alarming findings from a recent Gallup survey titled the Life Evaluation Index. According to the survey, [00:54] Clark Howard states:

“The number of people that are struggling or suffering at work was never close to being half of all workers in the United States, which is where it is right now.”

This statistic underscores a significant shift in worker sentiment, with 50% of employees reporting dissatisfaction—a level not seen even during the Great Recession.

2. The Importance of Continuous Learning and Upskilling Clark emphasizes the necessity for workers to adapt to the ever-evolving job market. He shares a personal anecdote about his son, who is training to be a professional airline pilot and is proactively pursuing a second degree in finance. [03:15] Clark Howard remarks:

“He’s already thinking, what else would he be doing? And that's not human nature. Usually, we have blinders on with our job or career, and what we do is what we do.”

3. Future of Employment by 2050 Looking ahead, Clark predicts that by 2050, “almost all the jobs that exist will be things that don't exist today” due to relentless technological advancements and market changes.

4. Accessible Free Training Resources To combat job market instability, Clark recommends several free educational platforms:

• Coursera: Offers thousands of free courses. While they don’t provide degrees or certifications, learners can acquire valuable skills that are increasingly prized by employers.

• edX: Founded by Harvard and MIT, edX provides over a thousand courses free of charge. Clark notes:

  “They call it auditing the courses, but there's an online catalog of those.” [06:10]

• Khan Academy: A nonprofit focusing on free education in STEM fields, preparing learners for high-demand jobs.

Clark encourages listeners to leverage these resources to stay relevant and secure in their careers.

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Listener Questions and Clark’s Expert Advice

1. Is the Wise App Safe for Foreign Exchange?
Listener: Kenneth from California
Question: Concerns about providing sensitive information to the Wise app.

Clark Howard’s Response: [08:34] Clark Howard explains that sharing personal information like Social Security numbers and driver's licenses is standard practice among financial institutions to prevent money laundering and criminal activities. He assures listeners that such data is handled with strict security measures:

“This invasion of privacy came about because... [post-9/11 measures]... It is considered to be a legitimate business purpose to require your Social Security number.”

2. Are Insurance Discounts for Veterans Legitimate or Just Marketing Hype?
Listener: Jeffrey from Virginia
Question: Validity of advertised insurance discounts for veterans.

Clark Howard’s Response: [10:22] Clark Howard thanks Jeffrey for his service and clarifies that most advertised discounts are mere marketing attempts. He points out that reputable organizations like USAA and certain military-based credit unions may offer genuine benefits, but generally, the promotions are not as advantageous as they appear.

3. Are Health Tracking Rings Worth the Investment? Which Brand to Choose?
Listener: Reed from Ohio
Question: Value and brand recommendations for health tracking rings.

Clark Howard’s Response: [11:33] Clark Howard shares his personal experience with the Oura Ring, highlighting its benefits in improving sleep quality:

“My sleep after five years with Aura is so crazy better because Aura nags you...”

He also discusses the competitive landscape, mentioning Samsung’s entry into the market and advises listeners to consider used models and the value of subscription fees for comprehensive data.

4. Best Way to Donate to Charity: Thoughts on Charity Navigator's Giving Basket
Listener: Sam from Texas
Question: Opinion on using Charity Navigator’s Giving Basket for donations.

Clark Howard’s Response: [22:54] Clark Howard acknowledges the small fees involved but underscores the benefit of ensuring donations go to legitimate and efficient organizations:

“It is an effective way because it's a clearinghouse to make sure that it's going to good, efficient, legitimate organizations.”

He also points out the advantage of anonymity, preventing personal details from being used in future solicitations.

5. Required Minimum Distributions (RMDs) for Roth IRAs
Listener: Ken from California
Question: Clarification on when RMDs are required for Roth IRAs.

Clark Howard’s Response: [25:11] Clark Howard confirms that ChatGPT was correct—there are no RMDs required for Roth IRAs during the account holder’s lifetime. He explains the advantages of Roth IRAs over traditional IRAs, especially regarding inheritance and tax implications.

6. Should You Ever Have a Credit Card?
Listener: Jay from Florida
Question: Perspective on financial experts who advocate never having a credit card.

Clark Howard’s Response: [26:39] Clark Howard differentiates between those who manage credit responsibly and those who don’t. He argues that reward credit cards are beneficial for individuals who pay their balances in full each month, thereby avoiding high-interest charges:

“If you are in the roughly half of Americans who use a credit card as a payment system where you pay the balance in full every month and you have the ability to pay with a credit card and receive the cash back rewards or points and you know, whatever program and you love doing that, there's no problem at all you using a reward card.”

He cautions against reward cards for those who struggle with debt, labeling the rewards as "fool's gold" due to high interest rates on unpaid balances.

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Additional Insights: Enhancing Longevity and Health

1. Standing vs. Sitting: A Simple Change for Better Health
Later in the episode, Clark shifts focus to physical health, advocating for standing over sitting to reduce health risks. Referencing a New York Times study conducted in Taiwan, [19:50] Clark Howard explains:

“People who sit a big part of the day have a 1/3 higher risk of dying from heart stuff.”

He shares his own experience of using a standing desk, noting increased energy levels and overall health improvements. Clark emphasizes that incorporating more standing into daily routines is a free and effective way to enhance well-being.

2. The Drawbacks of Treadmill Desks
Clark mentions his brief stint with a treadmill desk, which he discontinued due to decreased material absorption and comprehension while walking:

“I couldn't absorb material as well. Reading... my comprehension declined.”

He advises listeners to find a balance that works for their personal productivity and health without compromising cognitive functions.

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Conclusion

In this episode, Clark Howard provides a comprehensive look into the challenges of today's job market, the importance of continuous learning, and practical financial advice tailored to listeners' diverse needs. He also underscores simple health practices that can lead to significant longevity benefits. As always, Clark encourages proactive engagement with available resources to empower individuals in achieving financial freedom and personal well-being.

Listeners are reminded to seek personalized advice through the Team Clark Consumer Action Center and to explore more content on Clark’s platforms for ongoing support in their financial and personal journeys.

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Notable Quotes:

• [00:54] Clark Howard: “One out of two people at work are miserable, struggling or suffering.”

• [03:15] Clark Howard: “He’s already thinking, what else would he be doing?”

• [08:34] Clark Howard: “This invasion of privacy came about because... It is considered to be a legitimate business purpose to require your Social Security number.”

• [10:22] Clark Howard: “Most of those pitches are just propaganda.”

• [11:33] Clark Howard: “My sleep after five years with Aura is so crazy better.”

• [22:54] Clark Howard: “It is an effective way because it's a clearinghouse to make sure that it's going to good, efficient, legitimate organizations.”

• [25:11] Clark Howard: “Chat GPT is correct. If you have a Roth IRA, one of the enormous advantages of it over a traditional ira, anything like that is that there's never an RMD required minimum distribution.”

• [26:39] Clark Howard: “Reward cards are a disaster because reward cards tend on unpaid balances to carry higher than average interest rates.”

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For more detailed advice and to engage directly with Clark Howard, visit Clark.com.

Transcript

[Podcast Announcer]

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[Clark Howard]

It'S my pleasure to welcome you here to the Clark Howard show where our mission is to serve you with advice and information that empowers you to make better financial decisions in your life. Are you thinking about getting a new job this year? You're not alone. But do you know there's a lot of training that can help you for free make yourself a better job applicant as you go out and look for that new opportunity. And also, do you know there's a magic pill? There's an actual magic pill that can extend your life or improve your health. I'm going to tell you what it is right now. I want to talk about the job market. Gallup that does so many polling and survey things has found that individual workers are really, really miserable right now in numbers that are virtually unprecedented. I'm looking at the Gallup survey called the Life Evaluation Index. This survey finds that we are 50, 50 now. And the people that are, as they would say they're asked, are you thriving at work? Are you struggling? Are you suffering today? And I don't remember this ever happening. Even during the Great Recession, the number of people that were struggling or suffering at work was never close to being half of all workers in the United States, which is where it is right now. People are. Well, I mean again, 50, 50. One out of two people at work are miserable, struggling or suffering. That's bad, ugly. Because think about how much of our waking hours we spend at work. And if we go to work dreading walking in the door. I've had a job like that before. It is no fun dreading going to work, hating being there and can't wait to leave. It's bad for your mental well being. It's bad all the way around but also, if you are not engaged in what you do for work, you're not going anywhere in that job. And so why this is so important to me is there are so many opportunities out there for you to skill up into things that the marketplace is calling for. You know, the workforce is not a static thing. What people are seeking in a worker, the skills, constantly moving, target never stops changing. And if you decide you're going to be what you're going to be forever, that's a mistake. You know, I've talked about this to my kids their whole lives from when they were really young. So much so, I knew I had succeeded when my son, who's training to be a professional airline pilot, called me and said, dad, I'm going to get a second degree. I think I'm going to do finance. Is it okay with you? It'll take me one additional semester to complete professional pilot and also to have a degree in something else. I said, yeah, I think that's a great idea. Why do you want to do that? And then he was repeating back to me what he heard. Propaganda works, he heard much of his life, that the nature of work never stops changing. He said, dad, I saw this story that Airbus is trying to get approval around the world by 29 to only have a single pilot in the cockpit, you know, because of all the automation going into airplanes. He said, I don't know what kind of longevity my career as a professional pilot will have. I don't know when planes are going to all fly themselves. And I thought that was really smart of a teenager to recognize that and already be preparing for what happens if his dream job. Because let me tell you, he loves flying an airplane. If his dream job no longer is viable, he's already thinking, what else would he be doing? And that's not human nature. Usually we have blinders on with our job or career, and what we do is what we do. Then that makes you roadkill for what changes over time. Because I will tell you that in 2050, almost all the jobs that exist will be things that don't exist today. Because the market never stops changing, technology never stops moving forward. And so you have to be prepared for change. And sometimes that's going to mean additional training or even education. I mean, I think about how many times over the years I've talked about Coursera, which has thousands upon thousands of free courses available that can teach you skills for free. You don't get a degree, you don't get a certification, but you're able to learn skills and a Lot of employers now are not as much into Certs certifications of various kinds as they are into you having the skill base to do a job. And there are hundreds of universities that make their courses available for free through Coursera. I love that. There's another one I didn't know about. I saw in Fast Company edx, which has a thousand courses that was founded by Harvard and MIT has a thousand courses you can take for free. They call it auditing the courses, but there's an online catalog of those. And then for years I've talked about Khan Academy, which is a non profit that is all about free education for stem. And you know, last month I read a list of all the jobs that are paying the most money and they were, almost 100% of them were somehow engineering or STEM. Trying to think if there were any that weren't engineering or stem. So you've got these resources available. To not feel stuck in a rut, to not feel like I just hate. I'm, you know, I'm. What were the terms of the Gallup thing? Suffering or struggling, man? Is that a way to live your work existence? Struggling or suffering when there's so much other opportunity out there? It's not just about money. It's about that you look forward to what you do, that you enjoy what you do, that you have options in what you do. That's what I want. I don't want you stuck in a rut.

[Co-host]

Okay. Kenneth in California wrote in and said, I appreciate your recent advice on money for exchange, recommending Wise, the Wise app to get the best foreign exchange here in the United States. When I logged into the app, they asked me to access my bank account, Social Security number and a copy of my driver's license. Do you think it's safe to do.

[Clark Howard]

So you have to do it. It's a financial institution. When you do business today with any bank, brokerage, credit union, whatever, they are under strict requirements for siphoning out who might be doing money laundering or criminal activities of various types. And they want to follow the money and follow the person who has the money. So this invasion of privacy came about because the original reason that has expanded way beyond that was the 911 terrorists and how they were able to come up with the money to do the various things they did leading up to the horrific terror of 9 11. And then since then, it's expanded for any of a number of other purposes, as often happens. And that's why this know thy customer thing is absolutely a requirement. How financial institutions do it is not prescribed specifically by law. But the industry has defaulted to the very things that you've been asked for. And Social Security number, anything involving financial industry. It is considered to be a legitimate business purpose to require your Social Security number.

[Co-host]

Jeffrey in Virginia says being a military veteran, I noticed many ads for insurance, both auto homeowners and sometimes life insurance that are supposed to be so much more affordable for veterans. My question for Clark is are any of these really cheaper or better for us veterans or is it just advertising hype? This would be a great thing to research for veterans and see if we really can get better discounts.

[Clark Howard]

I want to thank you Jeffrey, first of all for your service to this great nation. Second, I want to tell you that most of those pitches are just propaganda. They're. They're not who he is. I like to say occasionally there will be organizations that specifically are devoted to military personnel and military retirees. And you may, may, you heard the emphasis on may get a better deal from these organizations. Think Navy Federal Credit Union USAA would be two examples and again may with both of those. Or a military based credit union may offer you a better deal on various things. But the reality is most of the pitches you see saying targeted towards veterans or that's just a marketing attempt. It is not necessarily in any way a better deal.

[Co-host]

Reed in Ohio wrote him with a question I know you will love. What do you know about health tracking rings? Are they worth the investment? And which brand of health ring, if.

[Clark Howard]

Any do you recommend so to call this an investment. You wearing one still?

[Co-host]

No, I wear it. I wear it when I'm sleeping sometimes because I have a tracking watch and I don't wear three devices like you. But I will wear it when I want to track my sleep.

[Clark Howard]

So for those of you on the YouTube show, I wear as my wedding band my aura ring. Now I'm wearing it on the ring finger for a wedding band which is not the best place to wear a fitness tracker.

[Co-host]

Is it your index finger index?

[Clark Howard]

Yeah, but I don't like wearing jewelry much so this way I just wear it and get good data. Not perfect data but nothing yet invented tracks your health as well 24 hours a day. Not my Garmin fitness tracker, not my Samsung watch. Nothing does the thorough data as the.

[Co-host]

Aura and you spell that O U.

[Clark Howard]

R aura ring is the website or O u r a ring.com now they have a lot of competition now they didn't used to have Samsung has one. The thing with aura is aura you have to pay. I don't because I was an early adopter five years ago. So I'm grandfathered in and I don't pay a monthly fee. But now you pay a monthly fee for the treasure trove of data. And I'm so hooked on the Aura that if they decide that they're excising the grandfather clause and I have to start paying, I'm going to pay the money because the data I get has been such an improvement. I sleep so much better than I used to because Aura nags you and it says you got to settle down. You want to sleep well tonight, you need to calm down. You need to just stop doing blah, blah, blah. It will goad you into going to bed maybe earlier than you normally do or whatever it is. And my sleep after five years with Aura is so crazy better. But you know what I find with any of these fitness trackers? Think about an Apple watch or a Samsung watch or the Garmin that after a while people don't like the nag in their lives. The they don't like what it's telling them. And think how many Apple watches that people bought for big money or Samsung watches are sitting in a drawer somewhere.

[Co-host]

Well, I was going to say if you're looking for an Aura, like you're not wearing, right? If you're looking for an Oura ring or one of these, a lot of people got them probably over the holidays, don't want them. Look on Facebook Marketplace, you can get a used one.

[Clark Howard]

They're so cheap used. Like with Aura, if you buy Gen 3 instead of Gen 4, the Gen 3s are available in the marketplace for like nothing. And then you just have to pay your monthly fee. The Samsung ring has not really caught on in the United States. It has overseas. But if you go read like any of the tech oriented sites, they have reviews of all the various brands of the watches and I'm sold because I think it's really, really helped me with my overall health and wellness. I'd always been into being active and exercising. Where it's helped is with overall health. And by the way, the daily health score I get, it's creepy, weird. Aura knows I'm sick before I know I'm sick.

[Co-host]

I know. But like a day before, you almost listen to Aura too much because you might wake up feeling good and you're like, I don't know, something's wrong with me. I'm, I'm having a bad day. Aura told me, you know, I mean, you do.

[Clark Howard]

I'd say I'm guilty as charged. So speaking of which, forget Aura. We're going to talk about. You want longer life, better health? I have the magic elixir. I really do. I'm going to share it with you straight ahead.

[Podcast Announcer]

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[Don McDonald]

McDonald from the Talking Real Money podcast. Simple, honest financial advice is hard to find because there are too many people in the financial services industry and even the media who will do or say anything to get your money. Well, for decades, my co host Tom and I have been trying to help people better manage money on the radio, TV and in our podcasts. About five times a week we share simple, low cost advice on building the wealth you need to enjoy a better future without making your broker richer. And ironically, you broker Listening to Talking Real Money could not be easier because you're already listening to a podcast. Just search for Talking Real Money on your podcast service or ask your smart speaker. Give us a try. You have absolutely nothing to lose except a few minutes of time and you might just discover something to help you enjoy a more prosperous and secure future along with a simpler present. Just visit talkingrealmoney.com or search for Talking Real Money in this podcast service. It's that easy.

[Podcast Announcer]

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[Clark Howard]

Those of you watch the YouTube show, see me do something you almost never see on a YouTube show. I stand in a studio. What does everybody else do in a studio? They sit. I started this as something that I do. In the decades that I did radio. I always stood. I didn't sit. Because sitting on your rear end is not a great idea. It will actually affect your health. And the statistics are pretty clear about this. You know, they call it dead butt syndrome, believe it or not. You ever heard that expression?

[Co-host]

Not until now.

[Clark Howard]

So okay, that's not a cuss word saying, but okay. Anyway, so being active is so important, but the reverse is potentially deadly. In fact, I saw a New York Times story where in Taiwan they followed half a million people for 13 years and found that people who sit a big part of the day have a 1/3 higher risk of dying from heart stuff, 1/3 higher. Just. Just this one change in their lives. Standing instead of sitting. And I know in corporate America it was like a big thing to do like five, 10 years ago to be at standing desks. But people found they didn't like it because, well, it was a lot easier to sit on the rear end. So the standing desk just kind of went the way the dodo bird because people found it. To call it not enjoyable would probably be accurate, but I find that I have so much more energy when I stand than when I sit while I'm doing it. And that overall the health benefits are so great. And if you are in an office job and you're sitting on your rear end all the time and then you have a long commute as well. Oh man, that's a bad combination for your health and wellness. Forget the people who, who died of heart disease in this Taiwanese study. Let's just talk about every day feeling sluggish and, you know, not energetic and getting tired easily. Standing is really great now. I tried for a while doing a treadmill desk. I had a treadmill desk in my home office and I found that I didn't absorb material as well. Reading. I would stand, walk the treadmill and read at the same time. I had to ditch it because my comprehension declined. I don't know what that's about. Maybe somebody who studies minds could tell me that. But if you can think about your life and ways that you can be doing anything other than just sitting on your rear end, think about that. Think about doing something to it, improve your health. It is habit forming, but not a bad habit. And it's hopefully addictive in a good way. And it doesn't cost any money to stand instead of sit. You know, I like things that are free that make you better.

[Co-host]

All right, we'll go to some questions. Sam in Texas wrote this one. I appreciated your article on what's the best way to donate to a charity, but I noticed that Charity Navigator's giving basket was not included. I've been donating that way for for several years and wonder how Clark feels about it.

[Clark Howard]

So Sam, this how I feel about it. There are some nuisance fees using the giving basket, but the advantage of it is what you find that you're more likely to screen charities at Charity Navigator, which is one of the three sites I recommend to make sure that charities are on the up and up and that they spend your money efficiently instead of on outside fundraisers and executives that make crazy amounts of money and stuff like that. So the giving basket charges it's like.

[Co-host]

Right around 1% so they don't charge it. The Charity Navigator and the third party platform they use are both 501c3 nonprofits. But to donate via, it depends how you're donating a credit card. I think it's 2% from some third parties. And this will happen if you're donating at a charity's website often too.

[Clark Howard]

Well, they'll ask rather than tell.

[Co-host]

Yes, true.

[Clark Howard]

So, so this, you pay if you're paying not with a credit card, I think it's right at 1%.

[Co-host]

1% and then a check is 99 cents and there's a cap on the amount.

[Clark Howard]

So it is an effective way. The money will all go to the organization. You'll pay whatever fees there may be or costs that would be incurred for transmitting the money. So as long as you're comfortable with those fees they add on. It is an effective way because it's a clearinghouse to make sure that it's going to good, efficient, legitimate organizations. And you can give to multiple organizations all in a single donation rather than having to give it to each. But you know what some people really love?

[Co-host]

What?

[Clark Howard]

You can have your identity hidden from the charity so that they're then not putting you on their forever mailing and solicitation list. And that's a reason a lot of people like the giving basket is you do it all behind a wall of anonymity, if you wish.

[Co-host]

Ken in California says, at what age do I need to take required minimum distribution for a Roth IRA? I'm seeing many different answers online. Some say 67, others say 70. And ChatGPT said you never have to take an RMD for a Roth. Which is it?

[Clark Howard]

Chat GPT is correct. If you have a Roth IRA, one of the enormous advantages of it over a traditional ira, anything like that is that there's never an RMD required minimum distribution. The money can be held through your lifetime. It is a very good asset to inherit where a traditional IRA is a lousy asset to inherit because of the way the rules work for each. Now, if you inherit a Roth ira, then you have to withdraw the money, whether it's a traditional or a Roth. You have to withdraw the money by the end of the 10th year from which you inherit it, unless you're a spouse. That's a whole different set of rules. But again, there's a big difference. The Roth you inherit and you spend it tax free over those 10 years. The traditional you have ugly, ugly, ugly tax bills you have to pay. So the Roth IRA wins every day in my book.

[Co-host]

Jay in Florida says Clark, you talk quite a bit about maximizing rewards on your various credit cards. How do you feel about others in the financial world who say we should never ever, not ever have a credit card? I don't believe I've ever heard your theories on this, and I would love your perspective.

[Clark Howard]

So it depends on who you are. If you are going to use reward cards and either not regularly pay the balance in full or irregularly not pay the balance in full. Reward cards are a disaster because reward cards tend on unpaid balances to carry higher than average interest rates. So the reward is fool's Gold because they're saying hey, look over here, look over here, we're giving you this, this point total this month that we're giving you this cash back or whatever. Don't look over on the other side where you're paying this ginormous interest on the unpaid balance. So if you know yourself as an example, Dave Ramsey, who hates credit cards, that's taken from a perspective of people who he counsels who've gotten into trouble with credit. That's why there are people who recommend never having a credit card. But in my book, if you're in the roughly half of Americans who use a credit card as a payment system where you pay the balance in full every month and you have the ability to pay with a credit card and receive the cash back rewards or points and you know, whatever program and you love doing that, there's no problem at all you using a reward card. You have to know yourself and if you won't pay the balance in full regularly or even occasionally, you won't pay the balance in full, you don't want to use a reward card, period. And so I have my rules for credit cards on clark.com that shows you how you make those decisions. If you are somebody who should be concentrating just on if you have a credit card and your running balances, the lowest interest rate or having a credit card for rewards, what rewards are best and all that. Just so you know, I despise the reward programs of the three full fare airlines, American, United and Delta. Their miles have become fool's gold and chasing after them is something that worked great in years past, today not so much. But there are other cards that could be very good if again you're somebody who pays your balances in full. So be honest with yourself on this. And I want to thank you so much for joining us today. Know that we're back on the job giving you one on one advice in the Team Clark Consumer Action Center. The holidays are in the rearview mirror and now it's time for you to be ship shape with your money. And we're prepared to do this as we've been doing for 32 years, answering your questions for free one on one in the team Clark Consumer Action Center. You can see how to get that free one on one [e-mail] cac and spend your day remembering concepts that help you save please more, spend less and avoid getting ripped off. And we'll see you Friday with our first Clark stinks of 25.