← The Stacking Benjamins Show
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Hi, this is Joe from Vanta.
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Before investing, consider the fund's investment objectives.
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Risks, charges and expenses.
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Visit statestreet.com im for prospectus containing this and other information. Read it carefully.
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MDY is subject to risks similar to those of stocks. All ETFs are subject to risk, including possible loss of principal Alps Distributors Inc.
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A
I love this time of year. I love bowl season.
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B
Every day is a bowl game and.
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I know not all of our stackers are sports fans. So thanks for hanging out.
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C
You should be.
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Shame on you for not crowding the crowding ESPN to watch the Scooters Coffee Bowl.
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Is that such a thing?
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Because absolutely it is. It's actually it's here in Frisco. It's the Scooter's Coffee Frisco Bowl.
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I like Scooters Coffee Scooters.
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B
They also have the Xbox bowl which is going to be here in Frisco too.
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Xbox Bowl. Wow. I like the Xbox too. Xbox or Scooters. If you want to sponsor Stacky Benjamin's, come at it. You know, if you want something that is the national champion of credit privacy and ID protection subscription tools, you want to check out the Stacky Benjamin's vault. We've been working for the past six months with a team at Array Team to help you take control of your credit. Take control of the score factors. Make the simple changes that sometimes will bump your credit up. Do what if scenarios before you make those big purchases. Plus privacy ID protection, change of address monitoring, Dark web monitoring. So much more. Some of these ugly subscriptions where scammers are getting your phone number and they're getting your information. You don't want any of that stacking benjamin.com vault give yourself the gift of better financial security in 2026. Today's episode I pick guys because this is something that that doesn't change. You know, the reason I want to play these episodes from 2023 is because of the fact that so much a lot of our stackers think has changed. I mean, 2023, we're just coming out of the pandemic. Things are starting to look much, much things are starting to return to normal. And yet it comes back down to mindset today, as it always has. Some of our favorite episodes been doing our top fives. Oh, gee. You create a top five. I create a top five. We don't share them ahead of time. And so we did this episode back In June of 2020 three of our top five money mindset tweaks. Two to build wealth. How do you need to change your mindset? As I was listening to these again a couple years later, nothing's changed. These are still every bit as important as they as they were back in 2023. Heck, as they were back in 2012. Still the same stuff. Yes, I would, I would love for you, if you're on Spotify with us or wherever you are, tell us what are your top five money mindset tweaks to build wealth. Love to get a conversation going. All right, we got a couple sponsors who help us keep on keeping on. We're going to hear from them. And then our top five money mindset tweaks and the rest of the stack of Benjamin's episode from June 14, 2023. If you had access to a car like this, would you take it back right away?
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D
Neither would I. Live from Joe's mom's basement, it's the Stacking Benjamin Show. I'm Joe's mom's neighbor, Doug. And get ready for a top five episode. Joe and OG are dialing up their favorite ways to help focus your money mindset on the right things. In our headlines. Carl Brower from IC Cars joins us to talk about mileage. Which cars last the longest? We'll share. Plus, we'll throw out the Haven lifeline to Lucky stacking Benjamin's listener, Alex, who wants advice on whether he should sell or rent out his apartment. And then I'll share some halting trivia. And now two guys who are double the fun. Definitely not double. It's just Joe and OG that sucked. Like, I can't just double the fun. No, you're not even that. Really.
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We are. We were totally fun. Hey, everybody. Welcome.
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D
One and a half times the fun. Maybe on a good day.
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Welcome to the Wednesday Funday show. I'm Joe. Sal C. Hi, Average Joe Money on Twitter. And by the way, we're going to have lots of fun today because we've had lots of people ask for it. It's actually one of the big things, I think, in OG in my wheelhouse. We're talking mindset today. We're going to talk about how getting yourself in the right frame can help you become a better investor, better saver, better person at work, better person in your personal life. So a lot of fun there. Before that, Doug, as you so sinkly said, we're going to talk about cars because. Oh, gee, we haven't talked about cars in a while. It is Mr. OG, but I didn't even introduce you. I was just rolling right into it, dude.
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B
Been here for Mr. OG sitting across.
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Across the card table from me. There he is. Yes. The sweet sounds of og. How are you, man?
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B
The sultry. I don't know, I was. I was trying to think. I can't think of any other. Any other adjectives about myself other than sultry.
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The sultry.
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B
Salty. The salty or sultry? Which one? Which one is a guy?
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Why does that to be either or? It could be both.
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B
Yeah, I'm a sultry salty.
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Yes. I don't know.
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Is it maybe the dulcet tones? Is that what I would say? No, I don't know. I don't know.
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Still no.
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I'm just. I'm just gonna be me.
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Our top five. So we got a lot of good stuff to do. So sit back and relax and let's get things started.
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B
Hello, darlings. And now it's time for your favorite part of the show, our stacking Benjamin's headlines.
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A
It's been a while since we've talked cars here, og and if you remember, I think the last time we really talked about cars was all of the issues during the pandemic. Right. Buying a new car during the pandemic was very difficult.
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B
Driving one through a living room wall, you know, little things like that.
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Sure seems like that's pretty easy, though. Yeah, easy peasy for some people. Yes. In the OG family to do. We caught up with Carl Brauer from iccars.com Carl's a guy who we've talked to many times in the past. He brought so much good knowledge. Oh gee. To our Instagram last week that I thought that we would replay pieces of that interview. So get ready for what's up with cars. Which cars last the longest and what the best cars are. For your money. Let's go. We're super happy we have him. The man from IC Cars is back. Carl Browers. Here. How are you?
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C
I'm doing great. I'm doing great. Thanks for having me on. Enjoying the opportunity to speak with you, Joe, and your audience.
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A
Well, you guys did a study recently about cars and longevity. Tell me exactly what you looked at at IC cars around longevity of cars.
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C
Yeah, we looked at a whole lot of cars, hundreds of thousands, millions of cars, to see where their miles were at, where their odometers were at at the point that they were transitioning, that they were transitioning ownership. And looking at that, you start to get a real good sense of which cars last the longest. And sure enough, you know, we. We see that cars just last longer and longer. They've got longer and longer lifespans all the time. They're built pretty well, and if you're willing to take care of them and care for them, you can get some crazy numbers out of them. We're seeing cars that last. You know, it used to be 200,000 was an impressive number. Now we're getting closer to 300,000. For a certain amount of cars.
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A
Thousand is fantastic. But this is super important. I feel like, you know, a lot of people that are in the market, especially for a used car, you know, they'll look at maybe 150,000 miles on a car, and they'll discount it. But to your point, some of these cars on this list, you can look at 150,000 miles on a car, Carl, and you'll still get a lot of mileage out of that thing.
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C
Well, that was the whole point. You know, we did this study, Best cars for the money. And the idea was how much lifespan is left. And I'm looking at the list over here right now, and, you know, you've got something like a Chevrolet Impala, which, as we all know, is a very common rental car. They do a lot of rental car service. But why would they be so popular in rental car agencies? Probably because they run for a long time with minimal cost to keep them going. That's our number one car on the list. And it's because its average price is around $9,700, and its remaining lifespan is 111,000 miles.
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A
Wow.
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C
I think if walked up to the average person and said, would you be willing to buy a $9,700 car? They'd probably be like, I don't know, what am I getting? If you said, okay, what if you bought a $9,700 car and the remaining lifespan was very likely to be 111,000 more miles, not 111,000 total, that's how many More you're going to go after you spend your $9,700. I think a lot of people would find that compelling.
- [09:43]
A
We'll get to the vehicles that made your top five on the list. But before we get to that, do you guys notice or did you look at. Is there a. Is there a price difference in other wor ones that are on the top of this list? Do they get a higher resale value from people? Do you find. So as an example, and I'll give away a little bit of your thunder here, ton of Toyotas on this list. So if somebody's selling a used Toyota, are they getting a premium on their money when they sell that car versus somebody selling a brand that's not on.
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C
It as much they are. Toyotas, of course, have higher resale value, that's for sure. But notice how there's Toyotas on here, but there's not as many as there are on our, say, resale value lists. And the tough part for Toyotas is because they have such higher resale value, you can't get them as cheaply. Remember, this list was a combination of how little can you spend for maximum life left? You could buy a lot of Toyotas that would have longer lifespans than the cars on our list, but you'd pay substantially more for them because they have longer lifespans. So these are essentially like the least amount you can pay for a car that still has a pretty healthy lifespan left on it, versus buying one with a whole lot of life left, a Toyota, and having to spend a chunk more to get it.
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A
Gotcha. Well, what's funny is, Carl, I think I have a different list up than the one that you have. I've got cars most likely to go over 250,000 miles is. Okay, is the list that I'm looking at. But I'm actually more interested, I think, in New York. Yeah, so we have both.
- [11:06]
C
So you're looking at longest lifespan. So those are just the cars with the longest possible lifespan. And Toyotas are all over that list, as you note, because they're indestructible tanks and they just run forever. So, yeah, those are the cars that last the longest. But then there's the cars you can get the most life out of for the least amount of money. And that's the cars that were the best cars for the money. The best used cars for the money. Meaning what? You could pay the least amount and get the most miles still after paying a very small amount, relatively speaking.
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A
That's where the Impala comes in, right there.
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C
That's where the Impala comes in because again, It's a sub $10,000 car that's got over 100,000 miles of life left on it according to our studies.
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A
That's fabulous. What else makes the top five on that list? Best value?
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C
Sure, sure. So you've got the Toyota Prius number two and it's right at 13, eight. Call it 14. And it's got 130,000 left. You got the Civic Coupe which is 12, six and it's got 117,000 left. And you got the Kia Sedona for $9,600 and it's got 87,000 miles left. And then number five is a Toyota Avalon, $15,800. It's got 143,000 miles left on it, Joe. So you spend 15, eight and you get 143,000 more miles after you've spent the 15, eight.
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A
Okay, I've got a couple of follow up questions about a couple of brands on their Kia. Kind of surprises me because of the fact that in the past it always seemed like a Kia was not, sorry, Ikea owners, but, but you know, the knock on them was that those cars weren't put together as well. Are you increasingly seeing Kia's on lists like this one?
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C
100%, yeah. So Kia and Hyundai, you know, they're the same parent company, Hyundai Motor and they are both far more capable cars of going a long distance because they're far higher quality over the past really like 10 to 12 years minimum. Really longer than that. But certainly the past decade, if you told me you were buying a 2012 or later Hyundai or Kia product, I would think, okay, you're probably paying not as much as you would for a competing Honda or Toyota and you're probably getting as much or more car both in terms of long term durability and in terms of features and content. So those two brands are very ascendant. You've seen them come up in the J.D. power scores. They're getting better and better, just opinions and the resale values are coming up because it's, it's a long process as you know, to change the image of a brand. Good. You know, and especially going from bad to good, you can, you can destroy a brand image much quicker than you can build one. But they have been doing such a good job for so long that people are just starting to realize that these are great cars.
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A
It's actually funny, I, last year with my book tour, I did a ton of traveling and so I'd have rental cars all the time. And to your point about the Impala, I had a lot of Kias, now they think about it. So obviously the, the car rental agencies are on to that under that as well. My other follow up was about the Prius. You know, there's a lot of people that go, what about that battery? You know that battery goes and you need to replace that. But apparently that's not the case.
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C
Yeah, there was a lot of concern, rightfully so, since people were very unfamiliar with hybrids 20 years ago when those cars first hit the market. But the truth is that we've seen really almost no incidents of early battery failure and if anything, longer life out of those batteries than most people, myself included, would have predicted 20 years ago. Now also remember that with hybrids in general, you get an eight year, 100,000 mile warranty. Now, with a lot of the battery packs in a lot of these cars and electric vehicles and even hybrid cars, you get these very good battery warranties. So people shouldn't have as much concern about battery components within cars, hybrids and electric vehicles as they would normally because the track record is good and the warranty is good.
- [14:39]
A
Let's go over the other list that I brought up earlier, which is cars most likely to be over 250,000 miles. We've got the Ford F250. Super Duty is number five. But Ford, again, it seems like Ford trucks, Ford trucks are rocking the truck market. Kyle?
- [14:57]
C
Yeah, you know, people buy these vehicles for work purposes. There's a lot of commercial purchases, fleet purchases for Super Duty F250s and above. And it's because they are built like tanks to run forever. So it's a, it's a very symbiotic relationship. Ford knows that people expect this out of them and the people who buy them know that Ford knows they expect this out of them. So they engineer these vehicles with a lot of durability from the frame on up. And they just have a brand new redesigned Super Duty now and it's, it's as impressive as ever. But these used Super Duties, you know, we have a percentage chance of getting to 250,000 miles. And as you noted, the 250F250 is number five and it's got a 43% chance of getting to 250/000 miles. And we're not saying it gets there and dies, we're saying that it's going to get there and probably be continuing to go, but it'll get there at 43% of the time.
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A
43% of the time is just amazing. These Numbers are, you know, to your point, like 20, 30 years ago, it's a whole different world now when it comes to cars. Then we've got the Toyota Sequoia, Toyota Tundra. So we're looking again at Toyota trucks, then Toyota Land Cruiser also there, and then Ford F350 Super Duty. Seems like it seems like this list, it's really dominated by trucks and by the SUV market.
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C
Yeah. And there's two reasons, right? There's two reasons a car will last a long time or go to a high mileage, I should say. One is that it's durable and it's capable and the other is that it's going to be used in a way to push it up to those miles. Right. One of the jokes we make around the exciting data table at IC Cars where it's just a party minute, as you know, but we'll make jokes about the fact that you don't see, see sports cars on this list. It's not because sports cars aren't capable of these kind of miles. It's that nobody's driving their sports car on the way. They're driving a three row. Yeah, they're probably sports cars capable of 250, 000 miles out there. But how many people are ever driving them in a way that would do that? Three row SUVs, you're using it for everything. Road trips, you know, running around on a daily basis, kids to soccer, the whole thing, you're using that all the time. And then these super duty heavy duty trucks, they're used in commercial purposes, they're used by companies that bought them. And the truck is a key component of how the company makes money. It makes runs, it delivers things, it runs around on a daily basis. So the use of these vehicles is as much or more a reflection of their mileage than the durability. So clearly the durability is there too because they're lasting this long.
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A
You guys look at everything from different paint schemes on cars, which I like that one, to some of the. What do you think the craziest thing is that you guys have looked at when it's come to cars?
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C
Well, I like that one because we'll do the paint color and how it affects depreciation. And when we do these lists, invariably something like yellow or orange has the lowest depreciation and people rightfully say, carl, how can yellow cars depreciate the least? I never see yellow cars. Nobody wants a yellow car. And I have to remind them, remember, this is not a reflection of the desire for these Colors. It's a reflection of the desire for these colors against the supply of these colors. Right. So with yellow, what would I say about yellow? How many people want a yellow car, Joe?
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A
Not that many.
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C
Almost no many. How many yellow cars exist?
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A
Very few.
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C
So the few yellow cars that exist, there's enough buyers out there, they're like, oh, look, there's the yellow one. I've been searching and they run out and they pay what it takes to get it. That's the thing. Whereas black and white, those cars are everywhere. And guess what? A lot of people want those cars and there's plenty to supply them. So you're not having as much trouble with black, white, silver, gray, because they're everywhere. So they hold their value, like in the middle. They don't drop in value because those colors, but they don't hold their value any better than some of these more bizarre colors because there's so many of them.
- [18:19]
A
Well, I think we learned something today. Don't love yellow cars.
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B
Like, that's it.
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A
You're gonna pay a premium if yellow is your favorite color, people. Yes. If only there were a website where you guys look at all things cars.
- [18:31]
C
Yes.
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A
Iccars.com you guys have all kinds of studies that you do. All kinds of. You can search for used cars, for new cars, Tell everybody what you do.
- [18:41]
C
Yeah. I mean the site of course has the dealer listings across the country. So if you're looking for a used or new vehicle, it's very easy to filter on the characteristics you want in terms of year, make, mod, miles, mpg. You can filter on all these things and locate the car, how far away from your house it is or close in some cases, if you want to not have to go too far to get your car. So there's all the ways to shop for all the used cars out there. But then you've also got all the things we do here. We've got all these studies to help people understand, you know, wise resale value, which cars have the best resale value. That's the most expensive part of ownership. That car. People don't think about, they think what it costs to buy the carp new. Maybe with the insurance and gas costs, they don't realize that if one car loses 10% more of its resale value than the other, that car cost them a lot more money when they bought it new. And then they went to get rid of it as a trade in or sell it later. So we have all the resale value information, all the longest lasting information, and then a lot of lists about, you know, best cars for road trips or best cars for gas mileage or best brand value. We have all these different lists there for people to look up.
- [19:39]
A
There's so much there. It's iccars.com I'll link to it on our show notes page@StackyBenjamins.com Carl, thanks for helping us again do a great job of buying a car. I appreciate it.
- [19:49]
C
Absolutely. Joe, fun being on with you.
- [19:54]
A
Not surprising OG to see Toyota all over that list. If you want a car that's going to last a long time, buy a Toyota, period, full stop.
- [20:03]
B
Ours is doing well.
- [20:04]
A
The thing that was, did it surprise you though that the Chevy Impala, the best car for the money because you pay very little for it but it still lasts a good amount of time.
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B
Yeah.
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A
And I, and I love his point of view there too that if you see a car at a lot of rental agencies, rental agencies do their homework and they know cars that are going to take a beating and last a long time. And I got to say there's a lot of Impalas at the, at the rental agency.
- [20:33]
B
I like them. I think they look pretty cool. The new ones.
- [20:35]
A
What do you think about this shift? New car vs used car right now?
- [20:39]
B
OG like buy the new car because used car prices are still so high. Is that what you mean?
- [20:44]
A
Yeah, yeah, yeah. Then the fact that salespeople now are starting to sweat again and as Carl said in some areas.
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B
Yeah.
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A
They're actually having trouble moving cars again for the first time in over two years.
- [20:57]
B
Well, I mean mostly that has to do with the interest rates and. Yeah, just people just being a little bit, a little bit more cautious with their spending, high inflation and that sort of thing. And interest rates. Did I already say interest rates are, are making.
- [21:10]
A
Oh, it's worth saying twice though.
- [21:11]
B
It's, it's so nice you say it twice. You know, affects affordability. I have noticed interest rates on cars, at least the advertised rates are still below market rates. So they must be again, there must be something to that. Just like he was saying. Right. It's like we gotta reel them in somehow.
- [21:27]
A
Yes, absolutely. Big thanks to Carl. We will have more on cars tomorrow at the 201. By the way, if you want to get some of our most motivational videos and the 201 we've compiled over the last 13 years, five of our most motivational get started videos today we're going to be talking about mindset. Well, helping you get that mindset and take the first step might be just a kick in the butt from some of these experts. We've compiled five of them stacking Benjamins.com motivate and that also comes with a subscription to the 201. Of course you can cancel at any time if you want, but motivation is not just a one day thing, it's a marathon. And so to stay motivated, you can get the 201 every Tuesday, Thursday, if you just wanted to get the 201. Stacking Benjamins.com201 all right, coming up next. Oh Gee and I are going to be giving you our top five pieces of advice from experts. Who are the different experts that we like? What actually did they have to say about mindset and getting yourself to be a better saver, a better investor, a better worker, just somebody who thinks more critically. We're going to have our top five there next. But before that, Doug, I think you got some trivia for us.
- [22:40]
D
Hey there stackers. I'm Joe's mom's neighbor, Tuck and wow, are things getting expensive. I don't know if you've seen the price of pork rinds lately, but they are up there. Man, I might have to go down to two bags a day at these prices. I don't know how I can. Nothing goes with my green smoothie like some pea rinds, but I'm taking care of my health. Speaking of, Bright is getting out of hand. On this day in history, something pretty big happened. With the costs of everyday goods skyrocketing like an Apollo mission rocket, in this particular year, the sitting president took a stand. Get it? He was like sitting took a stand. I'm too funny. Where was I? Oh, the sitting president wanted to stop the unacceptable rise in prices, so he implemented a 60 day price freeze across the US my trivia question is which president, in a totally not crooked move, locked down prices on all goods? I'll be back right after I research how to make pork rinds from scratch. Sure, I've got some of the ingredients lying around here somewhere, right? Hey there stackers. I'm calorie counter and price watcher, Joe's mom's neighbor, Doug. I'm glad to know I'm not the only one willing to do something about the cost of things. I love going through the roof. So which president implemented a 60 day price freeze across the US on all goods? It was Tricky Dicky himself, President Richard Nixon. And now it's time to talk about overcoming your limiting beliefs and building your money mindset strategies. Now back to two other tricky Dicks, Joe and og.
- [24:27]
A
Thanks, Doug. Hey let's dive into this idea of mindset because, oh gee, way back in the day wealthy investors figured out one thing that was super important, which was if I buy a collection of different stocks, I can get the upside of some of those stocks and I can also mitigate my risk of, of downside. And that was a big aha. The evolution of the mutual fund. Well, obviously with a mutual fund then OG we found out that having a great money manager we thought was the key to success. And the better mind to manage that money, the better off we were going to be. We didn't want to manage it, we wanted to have, have somebody else do it who was in the market and knew what happened. And then the evolution after that was of course the indexing probably beat the good money manager and time after time usually does. As you've said in the past, you can beat the market, right? But you don't know who's going to beat it next year. So it's far better for the vast majority of us to, for 99.9 of us, not even vast majority to use indexing as a core piece of our strategy. But I think what we found out lately OG is that behavior really right? With Richard Thaler winning the Nobel Prize and, and all the discussion about behavior lately, I mean, isn't it true, haven't we found out that behavior kind of supersedes all those things? You can have active management, you could have passive management, but if you get in there and play around, you're going to just mess it all up anyway. So who cares?
- [26:00]
B
Well, when you're thinking about investments in and of themselves, the biggest determinant to long term investors success is what happens when things don't go your way. What do you do when it's not going the way you hoped or projected? And quite often that's the long term impact of your plan is what did you do in 2022? What did you do in 2008? What did you do in 2001? Those bend points throughout your life are just tests. And I think it also is on the other side of it too. What are you doing today? Are you going? Well, I guess the only thing that goes up is only tech stocks that mention AI in their press releases or quarterly reports. So therefore everything else is bonkers. That's the other side of that kind of fear and greed cycle. So staying the course is very hard.
- [26:48]
A
There's the other side of this equation too, of stacking Benjamins, which is earning money when you're in your earning years. Certainly mindset plays a huge, huge part there too. Oh, gee. How your relationships work, how you get along with people. Like, I think mindset is huge in that part of the equation.
- [27:05]
B
I might have some conversation about that in just a little bit.
- [27:08]
A
I want to begin this with a piece from Stanford University, which we'll link to in our show Notes. Of course, we're going to deep dive on this even More in our 201 newsletter, your powerful, changeable mindset. And in this piece, Mia Primo speaks to a bunch of different people. But she says this mindsets help you simplify. Your world gets a lot more simple if you focus on your mindset first. You don't have all this world, you know, because of your lens of how you're looking at the world, that things get a lot simpler there. The second thing that she says is that it affects your worldview. And if you find yourself to be a pessimist versus an optimist can really change. But the neat thing about mindset is you can change your mindset. There's a lot of things about your life you can't change, but your mindset, you can completely change. And study after study. I mean, think about atomic habits, right? Maybe we'll mention atomic habits here during this piece, whether we do or not, because I haven't seen OG's list. Atomic Habits doesn't make mine. But it certainly is a place where you can go to get a lot of ideas about mindset can always be changed. So some powerful stuff there. Do you want to go first or would you like me to go first?
- [28:18]
B
I don't care. Whatever. Rock, paper, scissors.
- [28:20]
A
Here we go.
- [28:22]
B
Rock, paper, scissors.
- [28:24]
C
Shoot.
- [28:25]
A
I didn't see what you did. Oh, we both scissored.
- [28:27]
B
Yeah.
- [28:29]
D
That is a very uncomfortable motion for me to see. We can't see. What'd you do, hold it up? Oh, he totally changed it as he was raising it into the camera view because he saw your rock change.
- [28:40]
A
All right, so that means you go first. You heard me clap. That means you go first.
- [28:44]
B
All right. I don't know. I don't know if I understood the assignment correctly. Just for the record, that's my little asterisk.
- [28:49]
A
So let's have Steve play the number first. Number five. There we go. All right, number five.
- [28:54]
B
So I went through my library and just grabbed a couple of books that jumped out at me and thumbed through them and found a couple things. So here's a book from It's Pretty Old by George Classen. Classen? Is that how you say that? George Classen the richest man in Babylon. Oh, yeah, he's read this book. Okay. It's yellow. So I guess I've had it a long time. But in the very beginning, it's just a parable story about making good decisions about money. In the very beginning. He has a section in there that says a part of all you earn is yours to keep. And I think early on when you're, you're just kind of starting your career and transitioning or transitioning to a different career or you get a pay raise or that sort of thing, I think we get so consumed with, let's just figure out a way to do the thing that I haven't done yet. I want to buy the house, I want to get the car. I finally graduated college. I've earned the ability to do this thing. And we figure out very quickly a way to spend all of our money. If you think about it from the get go, that a part of the money, and it doesn't even matter what part you choose, but a part of the money that you make needs to be yours to set aside for later. If you start with that early on, it's easy to compound that habit. And even if you don't compound it, if all you did was save 5% of your income for your entire life, you'll be in really great shape.
- [30:13]
A
This didn't make mine, but it certainly, I think is a huge mindset to have. And I'll tell you that hearing that myself, knowing that when I was advising people and still crappy with money myself, that went nowhere. I mean, that, that idea, I'm like, great, I should do that. Yeah, I get it. I'll tell you the thing that's an add on to that OG that also isn't on my list, but you made me remember was from Rich Dad, Poor Dad. Now a lot of that book about like investing solely in small cap and penny stocks, a little eye roll there. But the idea that that pile of money goes to work every day with a lunch pail and works alongside of me, and the bigger that pile of money is, the more money it brings home so that I can work less. That's the piece of what you're saying of that richest man in Babylon idea of, hey, keep some of your money around, that totally spoke to me was pretty powerful.
- [31:04]
B
Yeah. I mean, I've said it's on, it's on a T shirt and trademarked. My way of saying that is you want to have enough money, that your money makes enough money so that you don't have to make money anymore. Yeah, that's the goal that we all have.
- [31:16]
A
My number five comes from the Strategic Coach Organization. And if you want a warm referral into the Strategic Coach Organization, just dm, OG or I, and we're happy to make an introduction for you, but from Strategic Coach og, this is my number five. And that is the big aha I've gotten from them is most of us focus on our weaknesses. To bring up our weaknesses, we look at our. Our strengths and our weakness, we go, okay, I'm weak here, I'm weak here, I'm weak here. So if I work on those weaknesses, I will then become extraordinary. And nothing is less true than that, because if we would have ever been anywhere close to competent with those weaknesses, we would have already done it already. Right. By the time you get to whatever age you are that you're listening to this, it probably already is. It's going to be your Achilles heel for the rest of your life. So instead of that, you will get a lot more mileage out of focusing on your unique talent. And I have to say, og, when I started bending my world, looking at all the things that are not my unique talent and then getting rid of and shedding as many of those things that I'm not talented at, my life became better in a hurry. First of all, everything I do all day is stuff that I like. Or most of the day, as you get better and better at it, that's the first thing. Second is you find far better results then because you're working on something that you appreciate, that you love and that you're good at, and you get better at it even faster. So this idea of focusing not on your weaknesses, but on your talents and then delegate everything else out, understand what those things are. I remember we interviewed Steve Chu recently talking about being a great entrepreneur. Like, know a little bit about how they work. You don't know everything about everything. Know a little bit about how they work, but then offshore it, find somebody else to do it. So that's my number five. Focus on your strengths, your unique talent, not your weakness.
- [33:06]
B
I like it.
- [33:07]
A
Number four. My number four is something that I've heard from a lot of. A lot of different places. But I think we can probably go to Jim Rohn for this one. The. The very popular motivational speaker, and he's done a lot of. A lot of work. You also see this in Jim Collins work from good to great. You see it. Tony Robbins talks about this. You know, it's funny, OG is that if you hear some of these Things one time. Some of these mindset things one time. It can be this one person's kind of thing. But when you hear a lot of different experts talk about it, it probably is the truth. And that is this. Be action oriented. I think if you make decisions faster, you're much more likely to get ahead. I'm gonna have a caveat to this in a second. You cannot change without making decisions 92% and right B to 100% and late almost every single time. If you get it mostly right, you're gonna be the person who gets the job, gets the contract, gets the thing done, gets rewarded by your boss, whatever it might be. Now, the place where this doesn't work, the big caveat is obviously in investing. Investing is the one place where generally being a little more lazy. Not in, not in your approach. In other words, I think you have to have a regimented approach, but having patience to sit and do nothing when everybody else thinks they have to move, I think that's the one place that's different than this. But when it comes to money making money, certainly on that end being action oriented and just moving faster. You see this with comedians. There was a study done around comedians where comedians, most comedians are not actually funnier people. You think they're funnier, but it's usually because they crack more jokes per hour than the average person does. And you remember the funny stuff, they're just, they're just cracking them far more often. And once again, they probably get better because of the fact that they do it more often because it's their, what they think is their unique talent. But that's my number four, action oriented.
- [35:03]
D
So we're funnier.
- [35:05]
A
Hopefully we're funnier.
- [35:07]
B
Well, I'll just dovetail a little bit on this. I'll take this a little bit out of order. So one of my favorite authors is Steven Pressfield. He's written a number of business related books and then some other books. Gates of Thermopylae, which is what the 300 movie was based on. He's written a recent book called Government Cheese. I have yet to kind of crack, but some of the business books that he wrote. One of my favorite is called the War of Art and this is a companion to that. It's called do the work. He writes start before you're ready. Which is kind of what you're saying. Don't prepare, begin. Remember, our enemy is not the lack of preparation. It's not the difficulty of the project or the state of the marketplace or the emptiness of our bank account. The enemy is resistance, and resistance is his name for the delay fish, the procrastination. So start before you're ready basically is kind of his theory on this. And when it comes to investing, to kind of take the opposite side of this, sometimes we focus on trying to find the best thing, right? What's the best plan to use? Should I do pre tax or Roth? Should I, should I. I don't know, maybe I should run the analysis of. Should I do the snowball method to pay off my debt or the avalanche method? Or, you know, like, which one of these is the most optimal? It's like, well, write a check to a credit card. It doesn't matter which one at this moment, right? Call your 401k provider and say, Sign me up for 10%. Like it doesn't matter that it's going in pre tax or Roth. That's a top of the pyramid decision. It's not the, you know, it's. It's your enemy right now is your procrastination. So get your button gear, which is.
- [36:37]
A
Kind of what you said if you're new here. One, one type of person, OG and I complain about a lot, is somebody who I've referred to as a broke professor, which is somebody who knows freaking everything and is done nothing. It's not about what you know. To your point. It's not about what you know, it's about what you've actually done.
- [36:56]
B
To your point. To your point? No, to our point. To my point.
- [37:00]
A
That's your number four. Let's go to number three. Number three. I think you're up again, man.
- [37:05]
B
Yeah, yeah. No, that's great.
- [37:06]
A
My.
- [37:06]
B
My number three is just a quote from John Templeton. You know it. Well, this time is different is the most costly four words in market history. Are you about to say that that's on your list too?
- [37:21]
A
No, it's not on my list, but I love that. I just, I don't know. Every time I hear that, I think, that's great, that's fantastic.
- [37:27]
B
And we think about this with market fluctuations and that sort of stuff. It's like, well, no, no, you don't understand this time. Inflation is high and we have high employment. And that means it's like, no, no, it's not different. It's not different. You know, the Beatles sang about this. There's nothing new under the sun, right? I mean, it's just. There is nothing new. And everything may have a different kind of tempo to it, but it rhymes with everything else. So when you're investing and when you're thinking about your investing. If you're trying to base your investing decision on something that's like, well, but this time's different. You're going to find out in 10 or 15 years from now that it was just a little blip on the radar screen. The only thing that hasn't changed is the long term efficacy of owning companies. That's been true for as long as people have been alive. The people who own the companies are the ones who are successful. Keep doing that.
- [38:21]
A
I think about all the downturns OG during my lifetime. 1987, it was going to go down and it wasn't going to come back. And it went down and came back within a matter of a couple days. Right. It was going to go down, wasn't going to come back. 1999, early 2000. The 2000 downturn. Right.
- [38:39]
B
This is the 91 recession for Desert Storm. The 97 long term capital Management hedge fund collapse. You know, that was, that was different. Right. You know, never before had that happened. You know, the Japanese, you know, Asian markets have, have, you know, that's never gone down before like that. 2000, like you said, terrorism.
- [39:00]
A
2000, what was that? Profits don't matter. Right. Profits don't matter.
- [39:04]
B
Yeah.
- [39:04]
A
Remember that.
- [39:04]
B
Yeah. We're never going to go to another store again.
- [39:06]
A
2007, 2008. Who needs underwriting property that's.
- [39:10]
B
Not making any more land.
- [39:11]
A
So, so we don't need these underwriting standards. We can package all the crap together and just sell it to other people and somehow it'll all work out. Yeah. And then obviously, for better or worse than lots and lots of stimulus into the economy and then prices go through the roof. That's weird. Everybody has a lot of money. Price goes through the roof. I believe that's in every college economic textbook that that happens. I love that one. My number three is just a general worldview, one OG which, you know, I find myself defending against all the time. And I, and I feel like, though so many of us, especially in online culture, we get caught in this, we all find we spend a lot of time defending our point of view and why we're right. I am right and my point of view is right. And you guys can all go to hell and let me spend time screaming over you to tell you why I'm right and you're wrong. And what I love, and this comes from a book from Carol Dweck that also the CEO of Microsoft absolutely loves, is taking the opposite approach. And the opposite approach is instead of defending your point of View, ask where am I wrong? And I love this. Oh, gee, especially for financial planning. Because as we're thinking about our financial plan, every plan has an Achilles heel. Every single one has Achilles heel. And how often have we been laser focused on all the upside, all the optimism, all the things that can go right? And if we spend just a little time thinking about where might I be stepping in it, we can then have a much more thorough analysis of the world. And it actually, frankly, I find when I can keep myself in a growth mindset, I think it's a more fun way to live too. And this list isn't about fun. I think it's about hacking right into. Into these better places. But it certainly is more fun, I think, to. To ask where am I wrong? Because then you're inquisitive, then you're looking for more answers. You're open to the possibilities of what else might be out there that you don't know. And you're looking then also to build bridges with people who think differently than me. I think that's a great place to be. So my number three is having a growth mindset.
- [41:18]
B
One of the steps of our financial planning process, the last step of kind of our initial onboarding, is what we call the responsibility game plan. And basically it's the what happens if all this goes wrong? Let's do the what if scenarios in advance. While you have relatively sound mind. It's very difficult to make good financial decisions when you have the stress of the event happening. What happens if I have a partner who passes away and now all this stuff is going on in my life and the mortgage is due? Let's think about how do we structure that today, because you're not dealing with that. Or what happens if we're planning for Social Security, but they change it. Now I only get $0.70 on the dollar or I don't get it until I'm 72 instead of 67 like I was planning. It's a lot easier to have those kind of thought up and penciled out on the shelf in advance than it is to try to execute that in the moment.
- [42:11]
A
What's your number three?
- [42:13]
B
I already did my number three. Oh, yeah, you're on your number two.
- [42:16]
A
I'm on my number one already. Steve. We need the dude number two. Thank you, Steve. You know, it's funny, there are some things, though, about worldview that you've thought all along, but somebody else packages it up much better than you ever, ever could. But I realized as I read this guy's work that this has always been something that I have believed. It's the way that I generally work and think. And I think that it is will help so many of us when it comes mindset wise. And that is Austin Kleon's idea of steal like an artist, which I don't think anybody should be shocked that I've got that on my list. Because if you've listened to the show for a while, you know how much I love that. We think of ourselves as not creative. We think of ourselves as boring. And if you just take stuff that you like, stuff that you appreciate, and you make that yours, this best in class stuff, and you pay homage to it, you don't out and out steal it, you pay homage to it. You tell everybody where you got it, but then you make it your own. That is how the most creative people around us work. But it doesn't have to always be creative. As an example, you know, my budget meeting OG which I think, you know, there's so many people that attribute this weekly budget meeting, the short budget meeting, specifically to me. Well, that all started with that whole thing was stealing like an artist. The best budget simply is communication. I wasn't the first person to have that thought. Right. Having a budget makes sense. The best budget being communication with other people and saying it out loud. So many studies show that the fact that shorter beats longer and communicating more often makes sense. I mean, study after study shows these things. That whole idea of the 20 minute weekly budget meeting is steal like an artist. So if you see somebody with a fantastic financial plan, Stephen Covey said this very well. I love this quote. Your systems are perfectly designed to reflect the results you're getting. So you don't think you're getting good results. Your system is perfectly designed for crappy results. Look at somebody who's knocking it out of the park, doing a great job of something that you think you're not, and then steal it like an artist, that's my number two.
- [44:23]
C
Sweet.
- [44:24]
B
My number two comes from just a concept that Orgen Housel wrote about in his book the Psychology of Money where he talks about compounding. And the headline of the chapter, he says 81.5 billion. Of Warren Buffett's 84.5 billion net worth came after his 65th birthday. And I know that that number is even lower if you go back to his 50th birthday. I think his net worth at the time was about 60 million. And Morgan's point here is that we just can't comprehend the power of compounding when we look at our investment plan or we look at the impact of saving $100 a month or $300 a month, or maxing out our 401. It's hard to look at that and say there's no way I'm going to have enough 20,000 a year for the next 20 years going in. My retirement plan is only 400 grand. I mean, how am I going to get there? It's like the power of compounding is so hard for our brains to understand. And we've mentioned different things to think about. But I'll just give you one example that I think is just mind boggling. If you take a piece of paper and you fold it in half, the paper is now twice as thick. Right. And if you fold it in half again, it's now twice as thick again. And so you can keep doing that. Well, there's some theory that you can't fold a piece of paper more than seven times without breaking it. But let's assume that you could keep on folding it in half until you folded it in half a hundred times. And so it's like really, really, really tiny, but really thick.
- [45:49]
A
Right.
- [45:50]
B
And so the question is, how big is it? How tall is this piece of paper that you folded in half? And we just can't wrap our minds around the fact that it's the same distance as it is from here to the sun.
- [46:01]
A
That's incredible. I thought it was here to the moon, but it's here to the sun.
- [46:06]
B
I think it's 93 million miles thick, basically, which is about the sun.
- [46:10]
A
Well, which would be bad, by the way, because then your paper catches on.
- [46:13]
B
Fire and then it catches on fire and then it's like a fuse. It's like an Acme video. Like the earth is like the bomb and there's like one fuse to the sun and it's kind of going down.
- [46:24]
A
My bad.
- [46:24]
B
And whether it's the moon or the sun or the sky or at the height of an airliner or something like that, it doesn't matter. It's like one single thing that we have a real hard time wrapping our minds around and compounding. You have to understand that the number one feature of investing is to not let, not get in the way of compounding. So don't, don't get in the way of it.
- [46:45]
A
Which actually leads to my number one. And I know that I think you're supposed to be up next, but if I can just dovetail. Let's do. You ready with your number one?
- [46:55]
B
Sure.
- [46:55]
A
Number one. I'm only Going to step in here. Oh, gee. Because I think mine, mine goes right there. I believe my number one piece to improve your mindset is to think this way. And there's a couple different ways to think about this. The old way, from way, way, way back. Sun Tzu, the Art of War is the best battle's the one that's never fought. I strongly believe that which talks to preparation and how do we get ready for things. And the best way to get ready for it, I believe is something we heard much more recently from an author, which is to begin with the end in mind and something that I of course have talked about a lot is this idea of time lining. But when you begin with the end in mind, then your money sits where it is and other objectives don't get in the way. Because what's, what's one of the things that happen to us all the time, OG that stops that compounding process that you're talking about. We decide that, hey, I'm going to use it for something else. I don't have no idea what the money's there for anyway. I'm just investing it because I heard it was a good thing to invest in. If we begin with the goal in mind, the money's going to sit there until I need it for that thing. The important thing about this process is defining your values first. Starting off with what is it that I truly think is important. And then the money sits until I need to take it out. And if I don't need to take it out, then it sits there for a long period of time. And that mindset, I believe, helps you get the patience to be active in a lot of other areas like you and I spoke about, and to leave your money and sit alone and let it be there for the whole growing season. So that's, that's mine. A combo. The best battle is the one that's never fought. And beginning with the end of mine, which I think go together.
- [48:40]
B
You hit us with a combo plan, huh?
- [48:41]
A
I did. Right, Left.
- [48:43]
B
All right.
- [48:44]
A
Okay. Here's the big one. This is it.
- [48:46]
B
This one's off the deep in the shelf. So I love this investor entrepreneur thinker. His name is Naval Ravikant. No, it's not Doug.
- [48:58]
A
Naval. Sure.
- [48:59]
B
Sadly, we're not able to quote any Dougs today.
- [49:02]
D
What?
- [49:02]
B
No, but you were talking about relationships and investing and that sort of thing. And Naval talks about playing long term games with long term people. He says all the returns in life, whether in wealth, relationships or knowledge, come from compound interest. And like you said, Dovetailing into the second one that I had, which was about compound interest or compound returns. And you think about all of the effort that it takes to build a good relationship with your spouse, or all the effort that it takes to build a good relationship in the community or your status in your field or whatever the case may be. It's all built on top of other things. You can't build your reputation in an overnight transaction. It's built over a sequence of decisions in a sequence of time and events. And if you're constantly surrounding yourself by people who are limiting all that, who are not thinking the long game, who are not challenging you, or not willing to play the long game with you, so to speak, you're going to be doing simple things and you want to be doing compound things, whether it's compounding your money, compounding your thinking, compounding your career, compounding your relationships. And that takes a different set of people than sometimes the people that are around us, you know, and it's a thing that we have to really work on, I think, to recognize when you're in those environments. It's not saying that you have to get rid of all of your non compounding relationships, it's not that at all, but recognize they're there for a different purpose.
- [50:33]
A
Well, and I feel like the more you focus on compounding relationships, the more the others just atrophy. You know, you don't have to go to your friend and go, I don't think this is compounding. So we're, you have to do that. But the more time you spend one in one area, you just don't have time for everything. So focusing on spending your time in those areas where you're growing I think is huge. What's funny is I've never heard that OG from Naval. However, the older I get, the more I think that's a piece of successful planning that we don't talk about enough. Because there is a piece of my financial independence that is completely wrapped around. I feel so very lucky that if bad things happen to me, there's enough people that care about me that they would have my back and they would help me get back up. And I think about how lucky I am to have those relationships. And don't get me wrong, part of it is that I work hard on those. But also, you know, I mean, I'm, I was able to find a lot of those people, but I feel like we don't invest enough time in those compounding relationships. So that's, that's a powerful number one. I Didn't expect that one as number one.
- [51:44]
B
I know the Almanac of Naval Ravikant. You can get it on Amazon. It's basically just like all of his podcasts transcribed.
- [51:54]
A
Which is 67 million pages.
- [51:57]
B
If we transcribed ours, it's on the agenda. Joe should be funding the business. It's coming.
- [52:03]
A
Yes. That was our top fives. I gotta say, I love where you came from with those top fives. I think you said that you didn't understand the message, but I think you, I think you got it sweet. Nice work. We will have all of those links in our show notes to all of those books as well. By the way, we do have an Amazon affiliate link, so if you want to help out the online, please click through to us and buy them through us. It won't cost you any more. And you'll also help the podcast. Certainly not a reason for doing this. I actually thought of that. Oh, gee. Right now, while we were, while we were talking, we'll also dive deeper into these topics, of course, into the 2001 like Kevin Bailey always does. You'll have this complete list there with even more commentary. Stacky benjamins.com 201 I think that's going to do it for today, guys. We will be back with a Haven lifeline again next Monday. But we ran out of time. I feel like saying Doug, Matt Damon, sorry we ran out of time. No time for you. Matt Damon for a while. Did we do that with Dave Ramsey for a while at the beginning?
- [53:10]
D
Sorry, we've done it. And Susie Orman too. I think we might have done that with her a little bit too.
- [53:15]
A
We. We might want to get back to that. All right, let's take a look at the community calendar. Tomorrow Crystal Hammond and I are going to be on Instagram talking all things real estate. She's the host of our Stacking Deed sister podcast. But it's always fun to talk to Crystal. Crystal also, by the way, has a brand called so so Fabulous where she designs clothing and if so if you're interested in designing your own clothes as part of your financial independence, Crystal can even talk about this. This will be a very chatty. I know lately we've done a lot of Instagrams lately where I'm doing interviews for the show. So we're not as chatty. But this is going to be Crystal, you and me chatting about whatever is on your mind. But certainly real estate, designing clothes and all things. Crystal Hammond, you og. Who's you listening? I'm pointing at the person listening.
- [54:02]
D
Oh, you don't mean me. I'm not going to be there talking about fashion design.
- [54:05]
A
Well, you can be. Just show up Thursday at 5:00pm Eastern, 2:00pm Pacific.
- [54:10]
D
I've got ideas.
- [54:11]
A
That is tomorrow afternoon. Yes. For all the other places where we may be, go to our welcome guide stacking benjamins.com welcome for all of our social media channels. All right, if you're not here to hang out with us and talk about designing your own clothes, you're here because you need a better mindset. You need somebody to remind you that mindset and somebody to be in your corner going, you know what, you might be stepping in it. And oh gee, and his team, they do that with a lot of people and they're taking new clients. So head to stackingbenjamins.com OG that sets up a free first meeting with OG and his team to see if they might be a great fit to make your decision making and your mindset decisions better. All right, that is it for today. Except this man. 10 takeaways in the Even more than that in our top fives, but also the Carl Brauer stuff. Not sure how you're going to pick. Doug, what are our top three today? What should we have learned?
- [55:02]
D
Well, Joe, first, take some advice from you two guys like powering through a whole bag of pork rinds in 30 minutes flat. Most of financial planning is mental. Put yourself in the right headspace to win with your money. Second, take some advice from Carl Brauer from IC Cars and be vigilant when buying a car looking for a better deal. Check out the mileage history of different makes and models before writing that big check. But the big lesson turns out pork rinds aren't everyone's idea of a superfood. Jokes are on them though. They're extra delicious, 7% all natural and almost never contain more than 2 cups of salt per serving. Thanks to Carl Brauer from IC Cars for joining us today. You can find out more about all things cars@icars.com we'll also include links in our show notes@stackingbenjamins.com and special thanks to Dave Ramsey for dropping by the basement. Unfortunately, Dave, we weren't able to get you on the mic this episode, but hopefully soon. Stick around. This show is the property of SB Podcasts, LLC, Copyright 2023 and is created by Joe Salsihai. Our producer is Karen Repine. This show was written by Lacey Langford, who's also the host of the Military Money show with help from me, Joe and Doc G from the Earn and Invest podcast Kevin Bailey helps helps us take a deeper dive into all the topics covered on each episode in our newsletter called the 201. You'll find the 411 on all things money at the 201. Just visit stackingbenjamins.com 201. Tina Eichenberg makes the video version of this show. Once we bottle up all this goodness, we ship it to our engineer, the amazing Steve Stewart. Steve helps the rest of our team sound nearly as good as I do right now. Want to chat with friends about the show later? Mom's friend Gertrude and Kate Younkin are our social media coordinators and Gertrude is the room mother in our Facebook group called the basement. So say hello when you see us posting online. To join all the basement fun with other stackers type stackingbenjamins.com basement. Not only should you not take advice from these nerds, don't take advice from people you don't know. This show is for entertainment purposes only. Before making any financial decisions, speak with a real financial advisor. I'm Joe's mom's neighbor, Doug. And we'll see you next time back here at the Stacking Benjamin show.
- [58:39]
A
Guys, I'm thinking about an investment when we move to Texarkana. We have, we have a little bit of room and I just found out that Home Depot is selling this little prefab house. Have you, you're, you're nodding your head, Doug?
- [58:57]
D
Yeah. The tiny house that they're selling.
- [58:59]
A
Yeah, yeah, yeah. This is brand new. Tiny house that they're selling. It is very small. But I'm thinking number one, here's the deal. When we moved, we moved to Texarkana. I have trouble having game night with my friends because our, our house is all, almost all hardwood floors and it echoes. And a couple times we've done it Cheryl's and she's like, yeah, I got to stay up till 1am with you guys. That was great. So obviously out of respect to her, I don't want to do that. So we talked about that. But we also talked about separate recording studio, right. Getting this out of the mom's house and maybe having, maybe having our own place to record.
- [59:36]
B
Wants a she shed.
- [59:37]
D
I was just gonna say that. Damn it. You took it right out. I was waiting for him politely to stop and I was gonna say, so you want a she shed.
- [59:44]
A
But we could also Airbnb it, right? Devin Carroll. Devin Carroll AirBNBS Three houses in Texarkana because everybody drives to the state line on their road trips. His houses are full whenever he Wants them full. So this thing, number one, pays for itself. Number two is a place for me to have game nights. Number three, we can take the recording equipment out there and have our. Have our separate.
- [60:12]
B
I do not want to be an investor in this business model.
- [60:14]
D
No, no, no, no.
- [60:14]
A
Why not?
- [60:15]
B
But you can.
- [60:15]
A
Why not?
- [60:16]
B
It sounds great. You should.
- [60:17]
A
What's wrong? What's wrong with it?
- [60:19]
B
Buying a she shed in your backyard for $16,000. 16 grand.
- [60:24]
D
16?
- [60:25]
A
No, it's 40. It's $43,000.
- [60:28]
C
Oh, there's several.
- [60:29]
D
If you go to their. No, no. They've got a ton of them. If you go to the.
- [60:31]
A
Oh, do they. No, no, I'm not looking at that one. I'm looking at the one. That's 43,000. Now, that's not the real price. You still have to lay a slab. You still have to get the plumbing in there. You still have to. You got to do all the stuff. I mean, it just comes with the prefab deal.
- [60:46]
B
I'd build a pool.
- [60:47]
A
I'm looking at the 43,001.
- [60:48]
D
So the getaway pad, 540 square feet. It's got a bed and a roof.
- [60:55]
A
The roof deck. That's the one I'm looking at, is the roof deck.
- [60:57]
D
1:43,832 is the cost on that. That seems pretty spendy to me. Without doing any of the infrastructure work, you can get one.
- [61:08]
A
I think you come in at a. I think you come in, by the way, at a hundred grand. I think you come in at a hundred thousand dollars.
- [61:14]
D
I don't think you're gonna spend 60. And I mean, maybe by the time you're done furnishing it and literally every last single dime, but you're not going to spend another 55 grand on.
- [61:24]
A
So why would you not do that in Airbnb? It. If I bought. When I bought this house, it just happened. I mean, it came with people that don't.
- [61:31]
D
Weirdos like me living in your backyard.
- [61:33]
A
See, See, that is. It's so funny the number of people that do that, do this.
- [61:38]
D
You have no retort. You realize. Oh, no, no.
- [61:43]
A
You just get freaked out about seeing anybody that you don't know.
- [61:47]
B
Very true. Yeah, I agree.
- [61:49]
C
Yeah.
- [61:49]
B
There's a reason I have a fence around my yard.
- [61:51]
D
Yeah, people are weird.
- [61:52]
B
Stay out. Beware of dogs.
- [61:55]
A
That's your primary reason for not wanting to do it, is having somebody in the vacant lot next to me. That could, by the way, be a lot with a house. It's further away. That place would be further away than Og, your neighbor. It'd be further away than your neighbor. Doug is in the middle of nowhere now. So, Doug, it wouldn't be but in.
- [62:12]
D
Your old neighborhood that I don't have weirdos living 80ft away from me.
- [62:17]
A
It would be. It's not 80ft. It still is. Down the hill, there's a spot for a whole different driveway and everything.
- [62:24]
D
Do it different zip code.
- [62:25]
B
You don't have to sell us on it.
- [62:27]
A
I'm not selling you.
- [62:28]
B
Unless you're asking for investors.
- [62:29]
D
Do it.
- [62:30]
C
If.
- [62:30]
D
If you want to be murdered by somebody strange that's living in your backyard.
- [62:33]
A
I am just wondering what's wrong with this.
- [62:37]
B
Passing through Texarkana.
- [62:38]
D
Ne' er.
- [62:39]
C
Do well.
- [62:39]
D
How often does he do well?
- [62:40]
C
Nair.
- [62:41]
B
Nair.
- [62:42]
A
Outside of the fact that we don't like people.
- [62:45]
B
Oh, I like people from a distance.
- [62:46]
A
So far. That's it. Oh, nuh, nuh. I've seen that weirdos at Walmart meme.
- [62:54]
B
All right, well, you guys keep chatting about this. My Jimmy Johnson's here and Og's hungry. Thank you. Actually.
- [63:00]
A
All right, thanks for the help, guys.
- [63:01]
D
He wasn't as chipper as he was this morning.
- [63:03]
B
Angry. See you by not at all.
- [63:05]
D
Bye.