07.16.25 Retail: Point Of No Returns / The Home Improvement Market Now

Summary

The Clark Howard Podcast: Retail—Point Of No Returns & The Home Improvement Market Now (07.16.25)

Release Date: July 16, 2025
Host: Clark Howard

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Introduction

In the July 16, 2025 episode of The Clark Howard Podcast, host Clark Howard delves into two pressing topics affecting consumers today: the escalating issue of product returns in the retail sector and the current state of the home improvement market amid economic uncertainties. Through insightful discussions, personal anecdotes, and listener interactions, Clark provides valuable advice to help listeners navigate these complex financial landscapes.

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The Surge of Returns in Retail

Clark opens the episode by addressing a significant trend disrupting the retail industry: the dramatic increase in product returns. With returns nearing a staggering trillion dollars annually, Clark highlights the challenges retailers face in managing this surge.

“Returns are creeping up towards a trillion dollars a year total for retailers. And as best anybody can guesstimate, you've got somewhere 15 to 20% of those that are anywhere from completely fraudulent to people gaming the system.”
— Clark Howard [02:30]

Key Points:

• Fraudulent Returns: Clark estimates that 15-20% of returns may involve fraudulent activities or system gaming, posing a severe dilemma for retailers who must balance policies to protect honest customers while deterring dishonest behavior.

• Online vs. In-Store Returns: A notable shift is occurring where online purchases, traditionally cheaper, are now experiencing higher return rates compared to in-store purchases. This trend may lead to reverse price discrimination, potentially making physical store prices more competitive than online counterparts in certain categories.

• Policy Adjustments: Retailers are responding by tightening return policies, especially during peak seasons like Christmas, and experimenting with options where consumers can choose between lower prices without return rights or higher prices with the flexibility to return products.

“You may actually see lower costs on items in the physical store than you do in some categories buying them online.”
— Clark Howard [05:00]

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Personal Anecdotes: Navigating Return Troubles

Clark shares personal experiences to illustrate the complexities of return policies, particularly with major online retailers like Amazon.

The Stained Blanket Fiasco:

Clark recounts purchasing a blanket from Amazon that arrived stained. Despite following the return process, Amazon failed to acknowledge the return, leaving Clark out $36.

“Amazon says they never got it and charged me back for it. And when you drop off at Whole Foods, they don’t give you a receipt that you returned it.”
— Clark Howard [06:25]

This story underscores the frustrations consumers may face when return systems falter, emphasizing the importance of vigilance and documentation during returns.

Listener Interaction:

A listener named Justin from Virginia shares an unusual return incident where a brand-new MacBook Pro was mistakenly shipped instead of soy sauce bowls ordered for a wedding. Clark advises immediate contact with Amazon customer service to rectify the mix-up.

“They should contact Amazon and see if they can work this out because obviously, soy bowls were a lot cheaper than a MacBook Pro.”
— Clark Howard [08:10]

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The Home Improvement Market Amid Economic Uncertainty

Transitioning from retail returns, Clark examines the current landscape of the home improvement sector, which has been significantly impacted by ongoing tariff-related economic uncertainties.

Current Market Challenges:

• Weak Sales Reports: Suppliers within the home rental industry, including giants like Home Depot, are reporting weaker sales compared to the previous year, signaling a cautious consumer base hesitant to invest in home projects.

• Cost Dynamics: While material costs remain somewhat elevated due to tariffs, the primary cost drivers now are labor and company markups. Fortunately, with suppliers eager for business, consumers may find more favorable quotes for labor-intensive projects.

“This is actually a better time than in recent times for you to look at doing a home renovation because so much of it is the labor cost and the markup that the company puts on the work it does. If they're hungrier for work, the quotes you get are better.”
— Clark Howard [16:00]

Clark's Advice:

He advises homeowners to assess their financial stability—ensuring debt levels are manageable and savings are secure—before embarking on renovation projects. If these conditions are met, now might be an opportune time to undertake improvements, capitalizing on the current market's favorable pricing for labor.

“Almost every improvement you can do to your house will cost you more than the increase in value it will cause for your house. So this is a lifestyle choice to do improvements to your home.”
— Clark Howard [18:00]

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Listener Questions and Expert Advice

Throughout the episode, Clark addresses several listener-submitted questions, providing tailored financial guidance.

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1. Selling a Vacant Lot Safely (Jolene from Missouri)

Question: Jolene seeks advice on selling a vacant lot located in another state, concerned about scams and safe transaction methods.

Clark's Response:

Clark advises against responding to unsolicited purchase offers and recommends hiring a reputable real estate agent specialized in land sales. He emphasizes the importance of professional assistance in ensuring a secure and fair transaction.

“If you want to sell the lot, you need to hire a real estate agent who does land sales regular.”
— Clark Howard [09:15]

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2. Electric Vehicle Upgrade Dilemma (Steve from South Carolina)

Question: Steve is torn between upgrading his 2023 Bolt EV2 LT with 22,000 miles to a newly redesigned 2025 Tesla Model Y, concerned about parts availability and tax incentives.

Clark's Response:

Clark acknowledges the significant technological advancements in the Tesla Model Y, labeling the upgrade as a "lifestyle purchase." He notes that while the Bolt is reliable, the Tesla offers superior features and performance, making the upgrade a favorable deal given current discounts and the available tax credit.

“The technology difference is so much between the 2020 Bolt and a 2025 Tesla Model Y that it's almost like comparing apples and oranges.”
— Clark Howard [11:40]

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3. Optimal Timing for Pension Withdrawal (Mark from Florida)

Question: Mark, aged 63, contemplates when to start taking his pension, planning to retire in two years. His wife worries about the pension benefits if something were to happen to him before he starts drawing it.

Clark's Response:

Clark advises confirming the pension's survivor benefits provisions, as most plans offer options like life of you plus 50% or 100% to cover a spouse. He recommends waiting the additional two years if financial circumstances allow, as it will result in a more substantial pension upon retirement.

“If you were to out of the blue, hopefully not happen die before, you would take a pension at 65. As long as she's already protected in the plan document for the pension, I would wait the two years.”
— Clark Howard [20:01]

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4. Investing with a CD Ladder (George from Massachusetts)

Question: George seeks advice on investing $15,000 using a CD ladder strategy and inquires about the best institutions offering competitive rates.

Clark's Response:

Clark explains the CD ladder concept—dividing the investment into equal parts across multiple Certificates of Deposit with varying maturities to optimize interest rates while maintaining liquidity. He suggests using resources like Bankrate to find top-performing institutions and recommends consolidating the CDs within a single bank to simplify management.

“A one year CD, two year CD, three year, four year, five year. And normally when you go out longer, you're going to get a significantly higher interest rate on the CD.”
— Clark Howard [22:24]

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5. Freezing Credit While Retiring Abroad (Bob from South Dakota)

Question: Bob plans to retire outside the United States and has his credit frozen. He is concerned about potential issues with unfreezing his credit in the future.

Clark's Response:

Clark reassures Bob that freezing and unfreezing credit from abroad is straightforward, provided he maintains his US-based financial accounts and follows standard procedures. He also encourages connecting with expatriate communities for support in navigating international financial arrangements.

“It’s going to be really easy for you to freeze and thaw from outside the United States. There’s no reason, Bob, I know of at all that you would have trouble with that.”
— Clark Howard [24:08]

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Conclusion

Clark Howard's comprehensive exploration of the rising trend in retail returns and the dynamics of the home improvement market offers listeners actionable insights. By addressing real-world challenges and providing thoughtful advice, Clark empowers consumers to make informed financial decisions amidst evolving economic landscapes.

“Have a great one. And we'll see you next on Clark Stinks.”
— Clark Howard [27:52]

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Notable Quotes

• “Returns are creeping up towards a trillion dollars a year total for retailers.” — Clark Howard [02:30]
• “You may actually see lower costs on items in the physical store than you do in some categories buying them online.” — Clark Howard [05:00]
• “Almost every improvement you can do to your house will cost you more than the increase in value it will cause for your house.” — Clark Howard [18:00]

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This episode serves as an essential guide for consumers navigating the complexities of retail practices and home improvement investments, underpinned by Clark Howard's expertise in empowering individuals to achieve financial well-being.

Transcript

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[Clark Howard]

It'S my pleasure to welcome you here to the Clark Howard Show. You know, our mission is to serve you with advice and information that empowers you to make better financial decisions in your life. Did you buy something, wear it and then return it for a refund after you wore it? Maybe you just changed your mind. There's a lot of gaming going on right now of returns. It's really, really causing a mess for retailers. I want to talk about that. And then something you want to do to your home with the economic uncertainty right now, should you be doing it right now? I have weird counter advice on whether this is a good time for renos and additions to homes. So returns are creeping up towards a trillion dollars a year total for retailers. And as best anybody can guesstimate, you got somewhere 15 to 20% of those that are anywhere from completely fraudulent to people gaming the system. And so this is a harsh dilemma for retailers because you always have this thing where policies are designed for the small percent of people who are running a game on you instead of the overwhelming percent of people that are doing everything honest and above board. Except that what's going on with returns goes way beyond a percent or two of people doing stuff. If we're at a point that 15 to 20% of returns may be in some way crooked, this is bad. And so this is a real, real challenge for you to be aware of. And one of the things is returns are a lot higher on things purchased online than things purchased in a store. So you may start seeing price discrimination in reverse. Because if you think about so long with online shopping, online shopping was cheaper on equivalent goods than going to a physical store. But so many problems are happening with bad credit cards. You know, stolen credit card numbers and people legitimately, particularly with clothing, buying things online and they thought they. You thought they were right when you bought them online. But when you get them you say oh, sudden look like I thought it's not as nice as I thought. Colors off some whatever and then it causes a return that increases costs in the system. So we're moving into a different era. I'm making a prediction here and I think you're going to see price discrimination moving the other way where you may actually see lower costs on items in the physical store than you do in some categories buying them online. You may see tighter policies as we had this last Christmas, we had tighter policies than we'd seen in prior Christmases on returns. And you may see more businesses experiment with. You get this price if you give up your right to return. You get this higher price if you want a right to return. Have you seen that any place you shopped online?

[Co-host]

Only like hotel rooms and things like travel things.

[Clark Howard]

Gosh, I hate non refundable hotel rooms. I hate non refundable hotel rooms. Don't book non refundable hotel rooms.

[Co-host]

Well, unless it's like the day before.

[Clark Howard]

Right, right, right. One of my brothers keeps booking non refundable hotel rooms because he can't give up.

[Co-host]

I mean you did priceline bids forever.

[Clark Howard]

I did and I learned what happened.

[Co-host]

You saw.

[Clark Howard]

Well, they don't do bids anymore.

[Co-host]

I know but I'm just saying like.

[Clark Howard]

Yeah, but in my brother's case, he booked hotel trip canceled, lost the money and I mean it's just your choice. But anyway, back to, back to what we're talking about the return thing. Nobody's come up with the right answer yet between punishing your customers that just legit have a reason? My sister in law ordered a bed sheet set online and it was in the picture was this light blue color she really was attracted to. And then they came and they were a dark, almost purplish blue color. She sent me a picture and we looked at what they actually showed up as and what they showed online weren't even close. That's a return.

[Co-host]

Yep.

[Clark Howard]

I mean this stuff is not easy and I'd say that particularly with clothing, if you don't like the hassle of returns, buy clothes in person.

[Co-host]

I usually if I'm going to buy online, I'll buy from a place that other than Amazon where they have physical stores I could return to. So if I get a deal online, then I'll walk it in and return it. I do that too.

[Clark Howard]

I never told you I had the craziest thing with an Amazon return.

[Co-host]

What?

[Clark Howard]

I bought a blanket. We actually have this blanket now. It's really good. But it came somehow it got horribly stained in shipping, the package had been.

[Co-host]

Oh, I think you did tell me this one. You might have told it on the podcast, but go ahead. You did.

[Clark Howard]

Well, I don't know if I told the follow up. So I told the story about returning it. Amazon says they never got it and charged me back for it. And when you drop off at the whole paycheck, they don't, they don't give you a receipt that you returned it.

[Co-host]

They scan your barcode. Yeah.

[Clark Howard]

What do I do about my money? I'm out.

[Co-host]

I'm surprised because I've done that at Whole Foods a million times and they, when they scan it right there, they should know you've turned it. Returned it. That's really weird.

[Clark Howard]

They build me back saying, you didn't.

[Co-host]

Put in a locker. You went to the.

[Clark Howard]

No, I went to the person who was so hazmat about it. Wow. Because it was. It was soaked in something gross.

[Co-host]

Okay.

[Clark Howard]

You know how it was, you know how much the blanket was, how much it was $36.

[Co-host]

Wow.

[Clark Howard]

That's a lot to spend for a blanket, at least for me.

[Co-host]

All right, we'll go to another weird Amazon issue from Whitney in Virginia. I am a financial counselor. One of my clients had an issue I was hoping you might be able to help me with. They ordered soy sauce bowls for their wedding. In the package with the same tracking number, instead of the soy sauce bowls, they found a brand new MacBook Pro. Their Amazon account says that soy sauce bowls were delivered. I don't believe that the Amazon policy requires them to send it back. However, should they be concerned about what's on the computer, any advice would be greatly appreciated.

[Clark Howard]

No, no. If it's a brand new Mac MacBook Pro, this is just somebody messed up in the warehouse and big time, I would say. I mean, now you're asking me an ethical question, Whitney. I think they need to contact Amazon customer service and see if they got customer service or customer no service. And that reminds me of the time that Walmart.com didn't charge me for a bike and I couldn't get them to take my money. And I had this bike and I felt like I had ill gotten gains and I could never get Walmart to come up with a way to take the money when they hadn't charged me for the bike. At the very least, they should contact Amazon and see if they can work this out because they Obviously, soy bowls were a lot cheaper than a MacBook Pro.

[Co-host]

Jolene in Missouri says, I have a vacant lot in another state that I want to sell. I've gotten lots of letters which offer to buy the property. What is the safest way to proceed and how do I safely get the money for the sale and deposited into my bank account.

[Clark Howard]

Don't take those letters seriously as being real people may have been to dare to be rich seminars, and they're. They're not going to tend to offer you a fair price for the vacant lot you need to hire. I mean, you're talking about another state. You're not there. If you want to sell the lot, you need to hire a real estate agent who does land sales regular. If it's. You don't say if it's a residential lot or commercial. It's a residential lot. You hire a traditional real estate agent, it commissions out at 10%. Usually for a raw land sale, if it's something that would be considered to be commercial property, you need a commercial agent. Don't proceed at all. There is no safe way to proceed with you in one state and getting UFO letters in another. Don't even think yet about how you're going to deposit the money. I'm not trusting any of this. Doing it in the scenario you described, I'm pretty surprised.

[Co-host]

10% commission on land. It seems like you didn't.

[Clark Howard]

Historically, land is a more difficult sale and there's not as much money often in a land sale. So in a lot of the country, it's traditional. And where whatever state this in is, I may be overestimating, but it's more common. There would be a 10% commission on the land sale.

[Co-host]

Okay. Steve in South Carolina says, Clark, please settle a loving dispute. Husband says it's a great time to upgrade a 2023 Bolt EV2 LT at 22,000 miles with a 2025 newly redesigned Tesla model Y. He says going forward, repair parts for accident repair or breakdown are going to be hard to get for the discontinued bolt. And the $7,500 tax credit for the Tesla is going to disappear soon. The Tesla is far superior. Larger, greater range, and much faster charging speed. And Carvana is offering to buy the bolt for $20,000.

[Clark Howard]

20,000.

[Co-host]

Just $4,000 less than the bolt originally cost. The wife says that the bolt is perfect, no issues at all, parked in a garage and is running great. Upgrading would cost $24,000. Cash after trade in is crazy expensive. What do you say, Clark? New Tesla or keep the bolt?

[Clark Howard]

Well, the technology difference is so much between the 2020 Bolt and a 2025 Tesla Model Y that it's almost like comparing apples and oranges between the two vehicles. So it would be an unusual cycle to sell a two year old vehicle if it's cost $4,000 effectively to drive a bolt for two years and you're out and then you're a free agent to buy someone something else. This becomes, Steve, a lifestyle question because obviously the Bolt's going to get you point A to point B. I'm not that worried about the parts availability as one of you may be. I'm not worried about any of that stuff. But they are completely different driving experiences. Not to mention because the reputational harm Tesla is under right now, they're having to discount vehicles in ways they never had. So you're going to get really decent deal on the Model y. Plus the $7,500 tax credit is still in place. Is it a lifestyle purchase that's unnecessary? Yes. Is it a good deal for a lifestyle purchase that's not necessary? Absolutely. So I'm not going to say that from a dollars and cents standpoint, yeah, you should do this. But I am going to say this is a great time to make that lifestyle decision because the dollars will never work as well as they do right now. I don't know if I made the argument. Friendly argument, loving argument, more difficult to decide or what you decide to do. Coming up ahead, something else that costs money doing improvements, additions, renovations to your home. I want to talk about that.

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[Clark Howard]

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[Clark Howard]

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[Clark Howard]

Mint mobile.com the uncertainty in the US economy right now that has been caused by the ongoing tariff stuff has made an impact on home renovations, additions and improvements. You look at the suppliers to the home rental industry are reporting weak sales pretty much across the board. Home Depot in its guidance to inv, the investment community is reporting very weak, what are known as cops. That's what their sales are doing versus a year ago. Not every reporting period, but generally. And so we're in a time that people are nervous, let's call it that, reluctant, afraid, whatever, to proceed with home improvement projects and dial back. A little while ago, the big thing was you couldn't even get a home renovation company to call you back and the price quotes they were giving were through the roof. You know, things like this go through waves, they go through cycles. And so if your finances are good in your household, your job is solid, your debt levels are where they should be, your savings are secure, you're in good shape. If you're all those things, then this is actually a better time than in recent times for you to look at doing a home renovation because so much of it is the labor cost and the markup that the company puts on the work it does. If they're hungrier for work, the quotes you get are better and that just goes to follow. And yes, there's some higher materials costs built in because of products that are being affected by tariffs, but the overall effect is so much about what you're paying in markup for the work that's being done. So if there's something that you've been hungering to do, and remember you meet those check marks I was talking about about your financial house being in order. You want your financial house in order before you do stuff to your house. But if you've got all those things in place, as they should be, this is a time I think it's good for you to zig when other people are zagging and see what kind of prices you can get on getting that improvement, addition, Renault, whatever it is done at your house. One thing about any of this, though, don't fool yourself by saying, oh, this is going to make our house so much more valuable. The reality is almost every improvement you can do to your house will cost you more than the increase in value it will cause for your house. So this is a lifestyle choice to do improvements to your home. It just may be more favorable conditions for you to do it right now than it's been in recent years.

[Co-host]

Okay, we'll go to questions. Mark in Florida sent this one in. I'm one of the lucky ones that had a pension. I left the company back in 2013. I'm now 63 years old. My question is when is the best time to start taking my pension? I plan to stay at my current employer for two more years and then retire. Should I wait or start taking it now? My wife is concerned that if something were to happen to me before I start taking it, nobody will get the pension. Any suggestions? And FYI, I love your show. Every Saturday I sit on the beach with my friend and we listen to your shows from the week.

[Clark Howard]

Wow. Okay. I love going to the beach anyway.

[Co-host]

And I gave you the name of the company I know you're familiar with.

[Clark Howard]

I am familiar with their pension because we've had questions about it. Employees now don't get a pension there. The pension that you have, and this is particular to individual pensions, there's not much of a haircut. Each year you take the pension earlier. However, if you do wait two more years to when you retire, it does mean the pension will be a little beefier for the entire remainder. There is no inflation adjustment on this pension. And as most pensions don't have in the private sector where there's a COLA cost of living adjustment each year. So I hope you're in good health, go to the beach every week and hang out. I Bet you are 63 and this pension, like most, has a provision where you can do for your spouse, life of you plus 50% life of you plus 100%. So your wife will be protected over the years ahead if you die before she does at either 50% or a hundred most pensions you've already made that or have the ability to make that election as a retiree not taking the pension yet. And so just confirm that for your wife that don't worry, she's already taken care of. If you were to out of the blue, hopefully not happen die before, you would take a pension at 65. As long as she's already protected in the plan document for the pension, I would wait the two years because your need for the money is going to be greater two years from now when you're retired from from work, than the need for the money right now. But again, it's not like Social Security on most private pensions where there's a huge advantage. For every year you delay taking Social Security, the actuarial for private pensions usually has a relatively small penalty year by year. You don't wait till age 65.

[Co-host]

George in Massachusetts says, I have little finance education. I heard about a CD ladder. How do you invest $15,000? What institution or bank has the best offers?

[Clark Howard]

All right, George, this is a great question. I will point out to you that CDs are saving instruments, not investing, because you're not going to lose any money, but you're also not going to get a great amount of money on the money you make in the CD. So CD ladder, classic seating ladder is you would take your $15,000 and you put $3,000 in each of five steps on the ladder. A one year CD, two year CD, three year, four year, five year. And normally when you go out longer, you're going to get a significantly higher interest rate on the CD because of worries about us having a recession going forward. The latter is not as lucrative for the later years as it normally might be. But in order to build one, you can go to bankrate where they have an up to date list of the best rates they've been able to find on one year, two year, three or four year, five year. And I would say having to open them at different institutions gets a little bit of a hassle. So if you find an institution that is near the top or at the top, one category after another, just open all five with that one and do your ladder of the 3,000 each 1, 2, 3, 4, 5 years.

[Co-host]

Bob in South Dakota says, I plan on retiring outside of the United States. I love I have my credit frozen. Will I have any issues thawing it in the future?

[Clark Howard]

None. I assume you'll, you'll still have financial accounts in the United States, credit cards in the United States. You'll have everything going on here. You know, your sign in for your credit freezes for the credit bureaus. It's going to be really easy for you to freeze and thaw from outside the United States. There's no reason, Bob, I know of at all that you would have trouble with that. One thing that is more difficult when you first locate overseas is navigating all the stuff with the with accounts. How you're going to pay for things, how you're going to receive money, how you're going to provide for health coverage and I don't know where in the world you're planning to do your retirement but I want to tell you that there are lots of groups now of expats who've retired in various communities in various countries around the world that help each other, that help their fellow Americans who choose to retire outside the United States. And you'll find a lot of very, very good, useful information for you about navigating the various processes you have to do for locating in the community and the country you're going to move to and navigating all this other stuff that's involved with having a life that was here and now will be there wherever there is. And so many Americans are doing what you're doing either for a lifestyle reason or because your money goes so, so much further in so many other places in the world if you're living on a fixed income in retirement. It's amazing the lifestyle you can have in so many other places versus what you can have here in the United States. If I were to live anywhere in the world though, oh man. If I lived outside the United States, I would live in one of the places that's more expensive to live in than living in the U. S. I would get no savings from it. Krista, do you have any idea what country it would be that I would want to live in?

[Co-host]

Italy.

[Clark Howard]

Nope, that's where Lane would want to go.

[Co-host]

Oh well outside the United States. I don't know.

[Clark Howard]

Australia.

[Co-host]

Oh wow. Australia is awesome.

[Clark Howard]

I would absolutely want to live in Australia. No doubt. Just go through the drive throughs backwards. That would be my place. But it is an expensive place to be. Whoa. And one fantastic place. Anyway, that would be my dream. So I guess we'd have to split our time between Italy.

[Co-host]

What a difficult time thing that would be.

[Clark Howard]

No, Wayne gets to Italy and she literally feels like she's home. Her genetic test says she's 7% Italian. That's not right because when she's there, she's a hundred percent at home and I'd weigh 8, 000 pounds, probably. Well, thank you so much for joining us on Today's podcast and YouTube show. I hope that something today was enjoyable, informative and actionable. We should be those three things.

[Co-host]

We should.

[Clark Howard]

So have a great one. And we'll see you next on Clark Stinks.

[Co-host]

Yes.

[Clark Howard]

Yeah, Clark stinks. Coming your way.