The Clark Howard Podcast: Episode Summary (April 25, 2025)

Title: Clark Answers His Critics on Clark Stinks / Fidelity Warning
Host: Clark Howard
Release Date: April 25, 2025

Introduction and Overview

In this episode of The Clark Howard Podcast, host Clark Howard delves into his ongoing "Clark Stinks" segment, where he addresses criticisms and feedback from listeners regarding his financial advice. The episode also features a critical warning about Fidelity Investments, one of Howard's favored financial institutions. Throughout the episode, listeners contribute their insights, experiences, and critiques on various financial topics, enhancing the depth and engagement of the discussion.

1. Clark Stinks Segment

Clark opens the episode in a playful yet self-deprecating manner, joking about his own personal hygiene before transitioning into the "Clark Stinks" segment, where he addresses listener criticisms.

Clark Howard [00:52]: "I got to hear why I really stink it up in this week's Clark Stink segment."

2. Oil Change Advice Criticism

A listener named Alex criticizes Howard’s advice on oil changes, arguing that frequent oil changes may not be necessary with high-quality synthetic oil and filters. Alex emphasizes that using full synthetic oil and quality filters can extend oil change intervals, potentially saving money.

Alex [02:30]: "People pay up to $150 for oil changes now. So buying your own filter and having them use full synthetic oil would be worth it if you only had to change it once a year..."

Clark acknowledges the validity of Alex’s points but highlights the importance of using the right oil and filters for low-mileage vehicles to avoid sludge and other issues.

Clark Howard [04:51]: "Using the right oil and a quality oil filter, how would you and I as a consumer know what a quality oil filter is? But those two things in combination, absolutely valid and valuable."

3. Walmart Plus Benefits

Listener Paul points out that Howard overlooked significant benefits of Walmart Plus, such as the free road hazard warranty and free tire repairs, enhancing the value proposition for members.

Paul [05:36]: "If you're a Walmart plus member, that road hazard warranty is included for free... Another additional perk of Walmart plus membership we just tried on our last trip and they gave zero hassle."

Clark responds by highlighting the versatility of Walmart Plus, including free and grocery delivery, and notes that certain American Express cards offer Walmart Plus membership for free.

Clark Howard [06:13]: "Walmart plus gives you free delivery and really great grocery delivery plans as well as part of the Walmart plus umbrella in addition to the other things it has."

4. 23andMe Data Concerns

Erin Aaron raises concerns about data privacy with 23andMe, specifically regarding the storage of saliva samples for future research. She explains the steps taken to secure her data.

Erin Aaron [07:05]: "If someone chose to have 23andMe hold their saliva sample for possible future research, that setting needs to be changed..."

Clark underscores the importance of data privacy, especially in light of 23andMe's bankruptcy, expressing skepticism about the protection of medical privacy.

Clark Howard [07:36]: "There's not anything that I've seen anywhere that makes me feel that the bankruptcy court is going to respect anybody's medical privacy in this 23andMe bankruptcy."

5. Automobile Tariffs History

Alan critiques Howard’s remarks on auto tariffs, providing historical context about the longstanding 25% tariff on light trucks (the "Chicken Tax") since 1964, which has protected domestic light truck manufacturing in the U.S.

Alan [08:23]: "The United States had 25% tariffs on light trucks since 1964. The chicken tax... it's important to emphasize that they have never stopped being used..."

Clark acknowledges the oversight and discusses the impact of such tariffs on creating a protected market for pickup trucks in the U.S., expressing his preference for free-market dynamics.

Clark Howard [09:03]: "I didn't know it was 64. I thought it was later, but it made an artificial market by making us an island market for pickup trucks in the United States."

6. Online Banking Issues with Raisin.com

Heidi reports difficulties with withdrawing funds from a high-yield savings account linked to Raisin.com, noting delays and loss of interest during the transfer process compared to other banks like Everbank and Fidelity.

Heidi [09:53]: "It’s very difficult to get your money out since they created a cash account system where you first have to transfer your funds there which takes a few days..."

Clark agrees with Heidi’s frustrations and acknowledges the need to update reviews of Raisin.com based on her experience.

Clark Howard [10:28]: "I think we need to note that in our review of Raisin."

7. ETA Scam Prevention

A listener from the Granite State shares how Howard’s warnings about ETA (Electronic Travel Authorization) scams helped her avoid fraudulent websites posing as official government sites.

Listener [10:54]: "I recalled Clark's warning about scammers out there in the ETA world... I'm very thankful that I caught Clark's podcast when he issued his warning..."

Clark reiterates the dangers of fake government websites and urges listeners to stay vigilant to prevent falling victim to such scams.

Clark Howard [11:31]: "There are all these fakes out there that get you that con... you think you're at the real government site and you're not."

8. Ireland's Train and Transportation Systems

Jimmy criticizes Howard for misrepresenting Ireland’s transportation infrastructure, particularly praising its advanced train systems between major cities. He also shares insights on car rentals and insurance challenges in Ireland.

Jimmy [12:51]: "It is not a backward country when it comes to train transportation... renting a car there is catastrophic..."

Clark expresses surprise and appreciation for the correction, admitting his lack of awareness about Ireland’s robust train network despite his frequent visits.

Clark Howard [13:06]: "I was not aware of any meaningful train network in Ireland. So I really appreciate being set straight..."

9. Bitcoin Criticism

Jim from New Mexico vehemently opposes Howard’s negative stance on Bitcoin, arguing for its legitimacy as a mainstream investment and suggesting inclusion in retirement portfolios.

Jim [14:24]: "Bitcoin's not perfect, but your opinions on it smell so bad, I'm tempted to Febreze my car speakers every time you bring it up."

Clark responds by clarifying his cautious approach towards Bitcoin and cryptocurrencies, emphasizing their speculative nature and current vulnerabilities.

Clark Howard [15:00]: "They're still in the infancy of crypto. So it is still a Wild west kind of thing... I urge caution always involved with crypto."

10. Fidelity Investments' Annuity Practices

The core of the episode addresses concerns about Fidelity Investments' practices in selling annuities. Howard criticizes the dual role Fidelity plays—acting as both a fiduciary and a commission-based salesperson—leading to conflicts of interest and pushing high-commission, high-expense annuity products.

Clark Howard [19:45]: "Annuities are regulated by states, not the federal government... it should not be that hard for a consumer to understand."

Listeners express disappointment with Fidelity, comparing its practices unfavorably to other companies like Southwest Airlines. Howard calls out the insurance industry's lobbying efforts to avoid fiduciary standards, which would prioritize customers' best interests over sales commissions.

Clark Howard [24:08]: "Fidelity is still one of my favorite children. Southwest is no longer one of my favorite children."

An anonymous caller from Iowa provides a nuanced view, acknowledging that while some annuities have good features, the majority are problematic due to high commissions and restrictive surrender schedules.

Anonymous Listener [25:15]: "Annuities can be a powerful tool for a portion of your retirement funds... But if someone offers one to you and you're not a financial expert, it's best to run away."

Clark concludes by highlighting the insurance industry's resistance to adopting fiduciary standards, pointing out that the real issue lies with unscrupulous salespeople rather than annuities themselves.

Clark Howard [26:59]: "The insurance industry is terrified of being required to do the right thing legally. That's the real problem."

11. College Funding for Daughter Studying in Canada

Drew from New York seeks advice on funding his daughter's Master's program at McGill University, focusing on managing currency exchange rates, establishing Canadian bank accounts, credit card options, and car insurance.

Clark offers comprehensive guidance, recommending tools like Revolut or Wise for favorable exchange rates, suggesting no foreign transaction fee credit cards, and advising consultation with McGill’s foreign student resources for car insurance.

Clark Howard [28:36]: "You can establish your daughter when she gets to Canada... with Revolut or Wise, it allows you to."

12. Tax Payment Fees via Debit Card

Patrick from North Carolina raises a concern about being charged a $25 service fee when paying federal taxes via debit card through TurboTax. He seeks clarification on why this fee was imposed.

Clark explains that the fee is not from TurboTax but from the third-party payment processors used when paying taxes with a debit or credit card. He regrets not addressing this issue earlier and advises linking a checking account (ACH) for tax payments to avoid such fees.

Clark Howard [32:22]: "If you'd paid with a link to your checking account, there would have been no fee at all for paying your taxes."

Conclusion and Final Remarks

Clark wraps up the episode by thanking listeners for their engagement and emphasizing the importance of empowerment through knowledge. He encourages subscriptions to his free newsletters and previews upcoming content.

Clark Howard [32:56]: "I hope that you have learned things today. I certainly have, as I do every time."

Notable Quotes:

• On Oil Changes:
  Alex [02:30]: "People pay up to $150 for oil changes now... if you only had to change it once a year and would have no trouble driving 25,000 miles..."

• On Walmart Plus:
  Paul [05:36]: "If you're a Walmart plus member, that road hazard warranty is included for free..."

• On Bitcoin:
  Jim [14:24]: "Bitcoin's not perfect, but your opinions on it smell so bad..."

• On Fidelity Annuities:
  Anonymous Listener [25:15]: "Annuities can be a powerful tool for a portion of your retirement funds..."

• On Tax Payments:
  Clark Howard [32:22]: "If you'd paid with a link to your checking account, there would have been no fee at all for paying your taxes."

This episode of The Clark Howard Podcast offers a rich and engaging exploration of listener feedback, critical financial advice, and insightful discussions on consumer rights and financial products. Clark Howard effectively addresses both praise and criticism, providing clarity and actionable advice for his audience.