00:04
Peter Dunn
So a little bit of announcement for everyone, including my co hosts who have, I don't think any clue what I'm about to say. Apparently this here podcast, this here live stream, which is also a podcast, is in the top 1% of podcasts in the world in terms of downloads. That weird. Welcome to the Pete the Planner show. We are the 1%.
00:31
Kristen Ahlenius
Oh my.
00:32
Peter Dunn
Hey, Brian pinkens makes it in on time today. Look at that. He's usually a couple of minutes. He's working, he's doing his things. Hello, Danza. Hello, Andy. Yeah, top 1% dame, how does that strike you?
00:47
Damian Dunn
I mean, it's just because we've been around for so long and we've had so many shows, right? I mean, it's just an aggregation of everything.
00:53
Peter Dunn
Now, I have a theory here. Hello Jason, good to be with you. Here's my theory. When we first came out with a show years and years ago and by we, it was just me show was okay, it's fine, right? Our show is A. I like, it works for me, who cares? But what has happened, Kristen, is that there have been thousands and thousands of terrible podcasts that have come out, so many terrible podcasts that we have failed up to the top 1% of downloaded podcasts in the world.
01:31
Kristen Ahlenius
So we're thanking other people for their failure. We're not celebrating our success.
01:35
Peter Dunn
Oh, here Dame. I want to say this out there to everyone right now. If you are thinking about starting a podcast, go ahead, please do, because it's going to suck and our ratings are going to go up in terms of the scale. So right now, if you got an know, typically Damien, you know the formula for a lot of podcasts. Two white guys talking about stuff no one cares about, right? Go do that. Go do that. And we'll keep climbing the charts. We're going to be in the top one 10th of a percent soon. And by the way, Jason missed the beginning. For those that just missed at the beginning, we earned the top 1% of all of the podcasts in the world in terms of downloads.
02:18
Damian Dunn
Did you get like a little email or a little I did. Really?
02:22
Peter Dunn
I did get an email, but it's a long story that's not worth going into. But I believe it because I started thinking through it and I was like, yeah, that actually makes a lot of sense. I mean, if you think about it, I think I have been part of five or six podcasts myself and the other ones that I haven't been a part of or haven't hosted, they probably suck know.
02:45
Damian Dunn
Would you have given up on the podcast if Kristen and I hadn't have joined you at some point? It was just you doing it solo at this point.
02:53
Peter Dunn
Well, so I don't think a lot about this. Okay, sorry everybody, but I would say this. I enjoy 10:00 a.m on Fridays every week. I look forward to it. It's my chance to talk to both of you in just sort of a relaxed, fun way. But I don't really think about this a lot. I don't think of a lot about the radio show. I do enjoy the live stream.
03:18
Damian Dunn
We know the radio show.
03:20
Peter Dunn
No, I love the community we've built here. That's a lot of fun, getting to know the likes of Rochelle and Big Rick, swink and Jason andy and Danza and Jameson and pilot Jeremy and everybody else, that's fun, but I just don't think about it. It's just a good outlet. But anyway, top 1% not even trying. So if you've got a good podcast idea that is really good and you have a modicum of talent, don't start a podcast. However, if you suck, which is likely and it's a terrible idea, please start a podcast. Thank you. Right, Dave?
04:02
Damian Dunn
Yeah.
04:03
Peter Dunn
Weren't you two about to start a podcast?
04:07
Damian Dunn
It's a private one that just kind.
04:09
Kristen Ahlenius
Of yeah, please do.
04:10
Peter Dunn
Please go right ahead.
04:13
Damian Dunn
I got to get put out on itunes or anything like, no, do it.
04:18
Peter Dunn
I support it.
04:20
Damian Dunn
I bet if Kristen and I started a podcast, there would be a number of crossover listeners from the Pete the Planner show to whatever we would officially title it.
04:29
Peter Dunn
I'm a big fan.
04:32
Damian Dunn
You're big something big.
04:35
Peter Dunn
Rick swing says. I just get annoyed when my listening to the live stream gets interrupted by that's fair. Oh. So I was in a grocery store in Grand Rapids, Michigan, this week, and I don't know why I went in. I was with Aqua Greg, and I see this impressive bourbon counter, and I'm thinking, you know, we've got a coworker, Chad Force, who loves bourbon. And I thought I'd go look and see if there's something interesting to bring him back. And it's interesting. It's a liquor counter at a grocery store, but it's to the ceiling. Like, you needed a 17 foot ladder to reach the top row. And it wasn't just decoration. That's where their backstock was. So that's stock words. So you'd have to climb the ladder. And this lady comes over to help us, and she's old. I don't know how to dress that one up.
05:29
Peter Dunn
She's old. And she walks over. She's like, can I help you? And then in this moment, I'm like, I'm about to be an accessory to a workplace accident. If I ask this woman to climb the ladder, her name was I said Joy. So I've been thinking about these birds, like, Joy, do you get worried about climbing that ladder? And she goes, Nope, I got big hands. Good for at. I look at Aqua Greg, and I was like, what? She's like, Nope, I'm pretty good, but I got big hands. It's like, Joy, I'm not sure you know how ladders yeah, like, big hands ain't going to do it, pal. So anyway, we left. We didn't kill Joy, and Chad didn't get any whiskey.
06:13
Damian Dunn
That's not how I expected that story to turn out.
06:17
Peter Dunn
No, we didn't kill anybody. I will note this, though. We were driving from Grand Rapids to Troy, Michigan, just straight across the street. You go through Lansing and Flint and we see this billboard on the side of the road offering 5.25% on a checking account.
06:36
Kristen Ahlenius
What?
06:37
Peter Dunn
Yes. Yeah.
06:41
Kristen Ahlenius
Sounds like a scam.
06:42
Peter Dunn
I almost wrecked the rental car. I was like, what? Because I don't care. I'm not going to do it. But I know you guys love that stuff, so I was going to come back. I couldn't get the name of it.
06:50
Damian Dunn
There had to be all sorts of caveats to that.
06:53
Peter Dunn
Oh, there had to be asterisks. Asterisks. Let's see. 5.25 checking. Michigan, Michigan. What do we got here? Genesis Credit Union genius high yield checking account with debit rewards. Okay, let's look for all of the where's all the small print?
07:23
Kristen Ahlenius
$15,000 minimum balance.
07:26
Peter Dunn
Here it is. Here it goes. No yearly fees, no minimum balance, and you get debit rewards. What? Where's the Asterisk? Okay, hold on. Here we go. Annual percentage yields designated as APY must enroll in estatements. Okay. And use your Genesis Debit Mastercard at least ten times per month for purchases of $5 or more. Fine. Excluding ATMs. Fine. To earn 5.25% APY. Okay.
07:58
Damian Dunn
Introductory rate drops after no standby balances.
08:04
Peter Dunn
Over 7500 will earn 0.5 APY. The earned per year amount shown is calculated by a full year at the account balance amount selected in the slider. So wait a second. There's a maximum balance?
08:19
Damian Dunn
Yeah, maximum. That they'll pay on that. That's interesting.
08:23
Peter Dunn
Come on. Genesis.
08:24
Kristen Ahlenius
And you have to use your debit card ten times for more than $5. I probably haven't used my debit card for more than $5.10 times in the last quarter.
08:34
Peter Dunn
Here's what's on the show this week. A really great home improvement question. Oh, I have a home story. Then an EV question that we waited to answer until Dame came back because Kristen and I I don't know. Then Kristen's got a game for us in which we're all going to insult each other. Then a great biggest waste of money of the week that is meant for Dame and the news quickly, a home story. Dame, my neighbor, put their home up for sale last week, and it sold. And their home is incredibly comparable to ours. My taste has ours. Possibly slightly higher price, but whatever, it doesn't matter. This thing sold for $80,000 more than I had thought my house was worth in two days.
09:25
Damian Dunn
Did it get like what they were asking? Did they go over list? Do you have any idea on that?
09:30
Peter Dunn
I'm finding out. The pending has it the pending listed in the system at 80,000 more than I would have thought my home was worth.
09:40
Damian Dunn
Wow.
09:41
Peter Dunn
And so now I'm like, what do you I don't know. I'm not like anything. Why? We could sell our house and go nowhere, right?
09:48
Damian Dunn
And go get one of those sweet 6% mortgages.
09:51
Kristen Ahlenius
You'll just have to look it up on your county's assessor website when Escrow closes, and then you'll know for sure.
09:58
Damian Dunn
We could all look it up. I could look it up and share it with you, Kristen, because we can do that.
10:04
Peter Dunn
All right, so let's do a show. Let's get the supplies ready.
10:10
Damian Dunn
Well, that's good.
10:12
Peter Dunn
Just passed an infosec thing. Dame, did you see that?
10:14
Damian Dunn
I did not.
10:15
Peter Dunn
No. You mute your Exec Channel slacks during the show?
10:19
Damian Dunn
I mute all my slacks during the show.
10:21
Peter Dunn
This is why I'm a mess, you guys. I had some pretty good jokes on stage this week, I have to admit. Pretty good.
10:28
Damian Dunn
Don't tease us like that.
10:29
Peter Dunn
No, they were good contextually. They wouldn't matter here, and they wouldn't be funny in redelivery, but they were pretty good. Okay, I'll tell you one. I go about talking about how financial anxiety is very real, and even I get financial anxiety, and it typically happens 10 seconds before I think I'm about to fall asleep, and then my eyes shoot open and my legs shoot out, and for the next 45 minutes, I create conspiracy theories about my life, right? So that's a normal line I give when I'm speaking. But I was staying at a nice hotel, and a lot of people at the conference were, and they gave you pillow spray complimentary within the room that smelled like lavender. And so as I delivered the joke, I said, but at this time, as you know, there was lavender pillow spray. So now I'm in financial despair in a lavender field, and then that ended up being funny.
11:19
Peter Dunn
Nice. My favorite scent is lavender. I love it. I want to bathe in lavender. I want to smell like lavender. It makes me feel calm. Anybody?
11:34
Damian Dunn
I think I prefer vanilla.
11:36
Peter Dunn
Really? I would want baked goods.
11:39
Damian Dunn
Yeah.
11:40
Peter Dunn
And okay, good point. Kristen, favorite smell?
11:42
Kristen Ahlenius
I can't do lavender. When I lived in a hotel, I had, like, a lavender spray just like that. And now when I smell lavender, I think about living in a hotel.
11:52
Peter Dunn
Is your answer beef? Hi, Jameson. Good to see you. Good to see you. All right, let's do what's this radio show, the one I Don't care about?
12:07
Damian Dunn
The one I never think about.
12:09
Peter Dunn
Top 1%. Didn't even try.
12:11
Kristen Ahlenius
Great.
12:12
Peter Dunn
I love the success of that, because it had nothing to do with my effort. It had all to do with other people being terrible at broadcasting. Not one lesson.
12:23
Damian Dunn
You just kept showing up week after week for 60 minutes.
12:26
Peter Dunn
Yeah. Read the reviews. They're terrible. It doesn't matter. People keep listening.
12:31
Kristen Ahlenius
It's about perseverance.
12:34
Peter Dunn
Okay. Oh, I do have a story during the break. Okay, in three, two, one. This week on The Pete the Planner Show, we answer your money questions. Email us, askpete@petetheplanner.com that's. Ask Pete@petetheplanner.com. Ask Pete@peteeplanner.com. Joining me, as always, is Kristen Ahlenius, director of education at Your Money Line. Joining me, as always, is Kristen Elaineus, director of education at Your Moneyline. Hello.
13:02
Kristen Ahlenius
Hello.
13:03
Peter Dunn
Damien Dunn, no relation, we've checked. Good. Vice President of Advice at your moneyline. Hello, Dame. Good day, dear Kristen, Dame and Pete, it's time to renovate our kitchen. We have a number of funding options. Okay, so I'm time out. How many timeouts do I get dame?
13:21
Damian Dunn
Two per segment.
13:22
Peter Dunn
Okay, so Dame, this is my first time out. I'm going to make it a 20. I love this question. It's one of my favorite questions because I feel like we can fundamentally help people with these sorts of questions because they're rife with mistakes, potentially. Okay, so we have a number of funding options cash out, refi, HELOC, emergency cash plus non qualified investment sales and cash value whole life insurance for discussion. When is it conceptually better to take cash from an emergency fund, non qualified investments and or whole life cash value in order to pay for a renovation upfront versus to take out a loan? As loan interest rates move closer to historic investment returns, is there some breakpoint or is compounding plus time horizon just too great of a force to overcome? Understandably, the answer is it depends. So here are some specifics to chew on.
14:18
Peter Dunn
We currently owe $144,000 at 2.25%, an estimated value of $325,000. We expect to live in the house for at least ten more years. We have six months of emergency savings, $45,000, and our only debts are the house and two vehicles. The whole life policy has a cash value of $50,000. We are 15 years from retirement with enough currently invested one and a half million in combinations of Roth, four hundred and one K and non qualified accounts to live comfortably when that time comes. We are generally debt averse, so this is a little more emotional than it is just running the numbers. The proposed refi rate is 6.5%, so it feels like a no brainer in this case, but it's hard to give up our current 2.25 loan. There's always the option to refi again in the future, but it will likely not stay in the house long enough for that to pay off.
15:12
Peter Dunn
If we could pay for it all or a portion of it through a combination of temporarily reducing emergency means, selling investments, losses or tapping life insurance, when does that become the better options? Thank you for your show. Greg and Susan. I love this question so much. I have very strong opinions on this. Do either of you have strong opinions?
15:36
Damian Dunn
I see the six and a half percent proposed refi rate and know what they're currently paying, and then I see the word the phrase no brainer thrown in there and I'm wondering if I'm missing something.
15:48
Peter Dunn
I think they meant it wrong. I think they're saying the six and a half percent rate is a no brainer to not do it. Okay. Kristen, did you take it that way or did you say that the no brainer was to refi at six and a half percent?
16:02
Kristen Ahlenius
But then they said it's hard to give up our two and a quarter percent loan.
16:07
Peter Dunn
Yeah, I know. So I'm so glad we're here together.
16:11
Kristen Ahlenius
They can't move ever. They just have to keep the two and a quarter forever. That's the answer.
16:19
Peter Dunn
Okay, so let's cover the non starters here. Let's just cover the things that we just can't do. Number one, with 15 years left in their career, I think doing a cash value withdrawal from their life insurance is a bad idea. I think as you move on from your work career and you need life insurance coverage, permanent coverage, diddling with your coverage that close to retirement with very little time to pay it back, in my opinion, doesn't make a lot of sense. Dame, strong opinions there not probably quite.
16:56
Damian Dunn
As strong as you, but you make a very compelling point that would not probably be in the top couple choices for them to try and find some cash.
17:07
Kristen Ahlenius
Kristen, I didn't feel strongly about it, but hearing your argument, I'm like, yeah, I agree with that.
17:13
Peter Dunn
I think people get really willy nilly about their life insurance cash value in situations like this, and they don't realize that, yes, it's nice, the tax ramifications and the ability to borrow, and those are all neat. But when it really comes down to it, when you're in retirement and there is a death, you need the reliability of life insurance to be there. And if you messed with it for some subpar reason, I don't like it. The other thing is, I think we all agree on this. You can't possibly get rid of the 2.25% loan.
17:45
Kristen Ahlenius
No.
17:46
Peter Dunn
You're almost forbidden from listening to the show again if you do that.
17:50
Damian Dunn
The only potential argument I would see is if they convert into a 15 year mortgage and still have be on track to pay off.
17:57
Peter Dunn
They won't, though.
17:58
Damian Dunn
I know that, but I'm just saying that's the only potential argument I could see.
18:04
Peter Dunn
Do you have the financial loan calculator on your phone that you can do this while at some point in the show we can report on it?
18:12
Damian Dunn
Yeah, I can.
18:12
Peter Dunn
Do you get to work. Kristen and I will carry the segment. Okay, perfect. Kristen so I've ruled out cash out refi. I can't do that. It gives me hives, gives me anxiety. No, I will say, here's the weird thing. Let's flip it and let's say that, I don't know, I'm making stuff up. Six years from now, let's say they had a six and a half percent mortgage right now, and six years from now they could cash out refi for 2.25%. Let's go do it. But the opposite is like, no bueno I'm not opposed to a HELOC here. I don't love a home being a piggy bank. But if it's the piggy bank to improve the value of the home, which kitchen is up there in terms of the value it delivers, I'm okay with that. Are you opposed to a HELOC, Kristen?
18:59
Kristen Ahlenius
I am not opposed to the HELOC. In fact, the HELOC is actually maybe my front runner because they have a good foundation. Otherwise, clearly, they're saving for retirement. They have their emergency savings in order. I don't have a lot of reservations about someone who's checking these other boxes, having access to a big line of credit like that. And to your point, it's for a kitchen rental. It's not something frivolous might be my front runner.
19:25
Peter Dunn
Yeah. And the other thing is, clearly these folks can put together a financial plan, they can save money. And so I think I would do the HELOC and then aggressively pay it down, because the rate on that is going to be, I got to think 8% or something like that, right?
19:45
Kristen Ahlenius
Yeah.
19:46
Peter Dunn
You're not going to get prime plus one. But prime is so high anyway, right?
19:50
Kristen Ahlenius
So then my question to you is, they say we are generally debt adverse. So this is a little more emotional than running the numbers is the answer. If HELOC is the front runner, comparing that against what your potential loss could be if you had to sell some investment assets and then decide if that opportunity cost is worth the emotional weight of you being debt averse.
20:17
Peter Dunn
No, because here's what I think has happened. First off, investments are still sort of down, right? Like, the idea of selling low is not really what we want to and I get the emergency fund. You're not really selling, you're withdrawing. But here's what I think has happened, Kristen. Debt averse to these folks means they don't want two mortgages. They don't want the first mortgage and then the HELOC, which is some form of a mortgage, I don't think they want that. They want one mortgage. And so they feel better about that in spite of the rate. I think that's the spirit of this. But $45,000 in emergency fund, that's six months of savings. That's great. So think about this, though, for a second. So that's what, $7,000 a month in expenses? Is that what I'm doing the math there. Okay. I wouldn't go down on that, because that's just going to need to climb in the next 15 years, someone at this income level like to have around $100,000 in cash come retirement.
21:23
Peter Dunn
So, Dame, any chance you got a number for us?
21:27
Damian Dunn
There's a few variables in here that I'm just not entirely sure of, but if they were to refinance the whole thing into, take a whole bunch for a big number, you're probably looking about $1,600 a month in payments is what it comes out to.
21:45
Peter Dunn
All right, so Greg and Susan die with that 2.25% mortgage. Don't ever get rid of it. Coming up after the break, EV electrical vehicles. I know nothing about them. Dame does that's next. I'm Pete the planner. Interesting, right? Yeah.
22:06
Damian Dunn
I was trying to figure out I was going to try and back into how much I think they financed when they got their two and a quarter percent. Try and figure out roughly how much they're making in payments. Right now, it's got to be close to $1,000 more a month if they're going to refinance at this .8 hundred to $1,000.
22:23
Peter Dunn
All right, so I want to talk about something that I have strong opinions but no expertise in, other than the fact that I've eaten a lot of pizza. We were in Detroit in some circles. You have to consider Detroit the pizza capital of the world, which is so controversial, because New York and Chicago, and then you've got over in Italy, so you got these people like Little Caesar's, Domino's, Hungry Howie's, to say the least. Those are three pizza places which were born, to my understanding, in the Detroit area. But Detroit has its own distinctive style of pizza, and it is called odly. Enough. Kristen detroit style pizza. Have you ever had Detroit style pizza?
23:11
Kristen Ahlenius
I've had a Detroit melt from Pizza Hut, but I'm guessing that's not the.
23:16
Peter Dunn
Be could be inspired. Dame.
23:18
Damian Dunn
I've had Domino's pizza. That's probably as close as I get to Detroit style pizza, because I have no idea what you're talking about.
23:24
Peter Dunn
Okay. Detroit style pizza. It is delicious. It is delicious. It is cooked in what looks like a steel edged cake pan, so it's a little thicker, not as thick as Chicago pepperoni cheese and then dollops of sauce in piles. And it is a square and or rectangle. And you eat them in squares and or rectangles.
23:51
Damian Dunn
I think I actually have seen this.
23:54
Peter Dunn
We went to of course, you know how this goes. Everyone claims they invented some. Oh, we invented the cheesesteak. We invented the Cobb salad. We invented radio. And it's like, no. And everyone come on, everyone calm down. But this place called Buddies, rendezvous Buddies, apparently invented, right after World War II, the Detroit style pizza in downtown Detroit. Allegedly. I watched a six minute video in YouTube. My hotel room smelling of lavender, so I know this. And so there was one near where were standing, so Aqua and I'm like, I think this is the move, brother, so let's go. And much like Portillo's in Chicago, where Portillos was at one point, theoretically a hole in a wall, but then became so delicious and popular that they started building really nice portillos in a bunch of other places, and it's still very delicious. Buddies did the same.
24:47
Peter Dunn
So we're into this well healed area of Troy, Michigan, and there's a Buddy's Pizzeria. I like to say it like that. Holy cow. Oh, it's good. Phenomenal. Phenomenal pizza.
25:02
Damian Dunn
Dame, I'm looking up Buddy's pizza locations.
25:07
Peter Dunn
At this point, mainly all in the Michigan area. Kristen, do you have a point of distinction between pizza styles that this would excite you.
25:16
Kristen Ahlenius
I'm a garlic bread gal, so I'm not even as much in it for the pizza.
25:22
Peter Dunn
Well, what if I noted that the texture of good garlic bread could be found in the crust of Detroit style pizza? Yes, were smashing. So what happens is in the use Wisconsin brick cheese. Wisconsin brick cheddar as the cheese. And so then the cheese melts into the crust against the pan, and it sort of I don't want to say it burns, but it kind of coagulates and it creates a chewy. I'm so hungry right now. Why am I doing a there's a.
25:52
Damian Dunn
Fantastic picture on the front page of their website. I can see why you would have enjoyed this.
25:58
Peter Dunn
Yeah. Anyways, Dave back here.
26:02
Damian Dunn
All right, I'm going to have sorry.
26:04
Peter Dunn
We'Re going to need your brain. We're going to do an EV question.
26:07
Kristen Ahlenius
I don't know anything about EVs.
26:10
Damian Dunn
Like that woman at the event yesterday.
26:14
Peter Dunn
Not my event, no. I would also say, as Aqua and I are taking a very long drive back from Detroit, getting stuck in traffic, in the horizon, we see an oasis in the form of raising canes chicken fingers. We went and got it, and it changed our life.
26:33
Kristen Ahlenius
Yes.
26:34
Peter Dunn
There's one just outside, like Perrysburg, Ohio. Is that yeah.
26:38
Damian Dunn
Yeah, it would be from where you were.
26:41
Kristen Ahlenius
There's not one indy?
26:43
Peter Dunn
There's two indy, but they're both pretty far away from me.
26:46
Kristen Ahlenius
Okay.
26:47
Peter Dunn
Not that I haven't driven for food.
26:52
Damian Dunn
I want to make sure that all this happened after you got the results from your doctor.
26:57
Peter Dunn
For all of my I went to got a physical, got really good blood results, and there's two ways to go. It's like, wow, let's just keep it going. And the other ways to go, it's like, let's go mess it up with some Detroit style pizza. I will note, if I die anytime soon, it's not because of my health, because my health is pretty good. It will simply be a funny to me.
27:26
Damian Dunn
That wasn't funny to you?
27:27
Peter Dunn
Was that uncomfortable?
27:29
Damian Dunn
Yeah, a little. That's all right.
27:30
Peter Dunn
That was funny to me. Okay. This is where I'm like if Mrs. Planner's listening, dan just says, I have mixed feelings about raising cane. The sauce is magic, but the chicken and fries are blend. Who am I to take back an award that someone has earned, like Danza? But that's a cold take. Danza. It's a cold take. All right. We love you, Danza. All right, let's start a show in three, two, one. Back on the Pizza Planner show. Dame, you are the residential car expert here on the show, correct?
28:09
Damian Dunn
I pretend to be, yes.
28:11
Peter Dunn
I think you are right. He is right on the show. Yes.
28:16
Damian Dunn
I would probably have to be on this show.
28:19
Peter Dunn
I don't know who Dangus about cars. And so, Dan, we got a good question that I actually want to know the answer to, but I don't even know where to begin. It's from Rosie. Hi, Pete. And friends. What's that feel like? Shots fired. Well, I'm sort of in the market for a new vehicle. Although technically I could continue to drive my 2015 Subaru Forester with 140,000 miles for another few years. Dame, I'd like to use one of my timeouts.
28:52
Damian Dunn
Granted.
28:53
Peter Dunn
Kristen, you may understand this, and Dame, I know you will. Does every Subaru car have 140,000 miles on it?
29:00
Damian Dunn
Subaru? They love to advertise that. I think they have the highest percentage of cars sold still on the road today.
29:07
Peter Dunn
I feel like every time someone I know or hear it's like, oh, I have a Subaru. It's got 140. Not a single Subaru has less than 140,000 miles on it, no matter what year it was made.
29:18
Damian Dunn
Yes.
29:19
Kristen Ahlenius
Accurate.
29:20
Peter Dunn
I'm looking at EVs, which Dame stands for electric vehicles. There we go. I want to sometimes say electronic vehicles. Do you ever want to say that, Chris? Yes. Which would save us a lot in gas. Yeah, that's how it works. We live in a rural area. I stink at that word. Rural area. And the Forester is a turbo, which takes premium fuel, but they are also more expensive. I own the Forester outright and have for about five years. When I bought it with 140,000 miles on it, I made that part up. It's been nice not having a car payment. According to calculators I've used online, I would need to drive a new EV for five years to break even on the purchase price compared to similar gas powered vehicles. The dealership is giving me a good price for my trading. Considering the miles, it's only 140,000, so I'm wondering if I should take advantage of that.
30:19
Peter Dunn
If I drive it a few more years, it won't have any trade in value, but the prices of EVs might also come down. The EV I am considering is not eligible for the $7,500 tax credit, but the car company is offering some rebates right now. I'm interested in your financial and EV thoughts on this, especially Dame, as he is a car guy. Lanks Rousey. Kristen, do you have anything to say before we learn stuff?
30:46
Kristen Ahlenius
I don't know anything, so please, Dame, take us to school.
30:52
Damian Dunn
The fact that you have 140,000 miles on your Forester means that you're just getting it broke in. Why in the world would you get rid of your Forester? Okay, Kristen and I had a little discussion around this very topic, and it seems like you're searching possibly for permission for something you don't necessarily have to do, which is not a horrible thing. Heaven knows, nobody needs to convince me that it's time to go buy a new car because I generally fall into that myself. But looking for an EV in a rural area? That's how you pronounce it, Pete? Rural area.
31:27
Peter Dunn
I don't know.
31:28
Damian Dunn
I would love to know the use case. How many miles do you put on your car? How far of your daily trip? Because it could potentially become almost an inconvenience for you if you're not careful and you're making lots and lots of drives on a daily basis. If I were in your shoes, pursue maybe a traditional hybrid vehicle, I can't believe in a million years I would ever say something like this, but the new Prius is actually a really attractive car. It's really nice. And they've done some stuff with the drive chain and it's actually got some pep. Now the prius is nice. The rav, four. You already said it's not eligible for the $7,500 tax credit, so you're probably looking at a Toyota, Tesla or GM, I don't think qualifies for the $7,500 credit anymore. Or you can go a plug in hybrid route, which is essentially you plug your car in, you get 30 ish miles on electric before it reverts to gas and then tries to charge the battery and goes back and forth.
32:30
Damian Dunn
But I'm not sold on EVs as a primary mode of transportation for people who don't live in a big city.
32:41
Peter Dunn
All right, so I have things to say. Barely thoughts, so I'm not going to say I have thoughts. Kristen this is think. You know, this is why we have Dame on the show to help us with things like this and to really carry the ratings as one of the Friends of Pete. Mrs. Planner is going to be getting a car sometime here soon to replace her 2008, 2000 and 812. I don't know. No one cares. And she wants a hybrid. Right. Which makes sense for how we drive. That's sort of we've thought about it. Our next door neighbor has an EV and one of my best friends has an EV. I feel so tethered. And I also have a hard time thinking you still have increased energy costs at your house because you still have to plug it in and charge it. Right. So how can that be offset over only five years?
33:48
Peter Dunn
I don't know.
33:50
Damian Dunn
Yeah, I mean, in theory, the energy that you use to charge it is going to be less expensive than the gasoline you fill a traditional car with. But I don't know. I love the idea of electric vehicles and the technology behind them, because if you've ever taken a ride in a Tesla and just absolutely had somebody mat the accelerator, not the gas, doesn't work that way. It's like a roller coaster on tap. They are incredibly fun. But this almost seems like an appliance question rather than a I love cars question to me.
34:31
Peter Dunn
Oh, that's fair.
34:34
Damian Dunn
And I don't know if this is the best use of that application.
34:41
Peter Dunn
Kristen, to the original point here, this feels like a solution searching for a problem.
34:48
Kristen Ahlenius
Yeah, I would agree with that. I mean, the Forester only has 140,000 miles on it. Why can't we keep driving this paid off vehicle?
34:59
Peter Dunn
Yeah, I don't know. Let's be honest. Some folks say, hey, I have environmental concerns. I want to contribute in a positive way to climate change reversal. I don't know. Maybe that's what Rosie thinks, and if that's the case, that's fine. But the financial side of this, I don't know. I'm going to pass.
35:23
Damian Dunn
Not for I mean, if you're going at it from the environmental side, I hope you've got solar panels on your house, because if not, that electricity is going to be provided by coal, most likely. So you're really not helping as much as you think. Batteries take a ton of energy and release a ton of pollutants to actually get the batteries manufactured, so it's not quite as clean as most people might want you to believe. What I would suggest if you're in this market, genuinely, Rosie, hold on to the forester. Make the payment to yourself over the next couple of years. Electric vehicles are not going to come down in price nearly as fast as that forester is going to continue to depreciate. But just make the payment to yourself for a while and make a better decision. Or at least a more prepared decision. I would say in a couple of years after you've got some cash in hand and you can see if maybe a hybrid or an EV might better suit your particular situation.
36:32
Peter Dunn
What a great recommendation. You should be on a podcast.
36:36
Damian Dunn
A top 1% podcast radio listeners.
36:39
Peter Dunn
You haven't heard were talking about it between the break. The Pete The Planner podcast is top 1% of podcasts in the world in terms of download. So if you want to hear some mediocre radio turned into a podcast, go find it wherever you get your podcast, Kristen, coming up after the break, a topic I think you came up with.
36:59
Kristen Ahlenius
Yes.
37:00
Peter Dunn
What is an expense that a lot of people accept and indulge in on a regular basis that we individually just don't get? You just don't get the appeal. You don't get why you would spend money on that. We're all going to make our selections, and Kristen's going to insult all of us. That's coming up next right here one of the top 1% podcasts in the world, the Pete the Planner radio show. All right. Good job, Dame.
37:29
Damian Dunn
Pete almost understood what you were trying to get at Kristen for the next segment.
37:34
Peter Dunn
Oh, wait, did I miss?
37:37
Damian Dunn
You did. I thought it was what do we as a society, like, in aggregate, spend more not individually.
37:43
Kristen Ahlenius
Oh, well, is that not the same?
37:46
Peter Dunn
No, what I was saying is, like, a bunch of people do something and then we all go, yeah, but I don't get it.
37:54
Damian Dunn
Okay.
37:55
Peter Dunn
Is that it, or I don't want.
37:56
Damian Dunn
To no, it just seems feels way more personal when we say it the way you said it.
38:01
Peter Dunn
You're being a coward.
38:04
Kristen Ahlenius
Make it more personal. That's fine.
38:06
Peter Dunn
All right.
38:07
Kristen Ahlenius
I'm ready to throw elbows right now.
38:09
Peter Dunn
Damien, you know who would take the approach you just took? Someone not in a top 1% podcast.
38:15
Damian Dunn
That's probably right.
38:16
Peter Dunn
That's why this exists. This show is in the top 1% because people would typically take your approach, which is a mamby pamby, sit on the fence stance, milk toast tiptoe.
38:28
Damian Dunn
Yeah, you're right. That's why that's dame. I could never do this on my own.
38:34
Kristen Ahlenius
That and we don't have the password to that's.
38:37
Damian Dunn
True. Or know how to edit the show.
38:40
Peter Dunn
For radio big Rick Swink, according to Google. Can you even trust Google anymore? There are 3.2 million podcasts. Dame, do the math for us. That means we are in the top 30,000 podcasts.
38:57
Damian Dunn
Yeah, I think that checks, by the.
39:00
Peter Dunn
Way, Jordan, thank you very much. Congrats on the best places to Work award. And congrats to your organization for best places to work at the big ceremony this week indianapolis, Indiana. Your money line, of which we are all under the employee. One of the best places to work indiana. As I came into the office this morning for the first time in the week, the plaque was sitting on our front desk. It made me feel very good about the business that we've built together. So that was very good. Congrats to all of my coworkers. That's olivia Zerr. That's olivia Zurr. For those in the biz leading the charge, we appreciate you. And there you go. Was that my award speech?
39:39
Damian Dunn
Yeah, I think so.
39:39
Peter Dunn
Yeah. Sometimes you thank the little people, and sometimes you thank the tallest person, which is Oz.
39:47
Damian Dunn
Did she have to give any kind of a speech when she accepted or just go she just had to go get her picture taken and flash her.
39:54
Peter Dunn
Million dollar smile and get pictures taken. If there's anyone you want accepting an award in our organization with their smile, it's Oz. Got the brightest smile on the planet.
40:04
Damian Dunn
I think Steven could do a great job, too.
40:06
Peter Dunn
Yeah, well, whatever.
40:07
Kristen Ahlenius
He's no.
40:09
Peter Dunn
Okay, so should I set this up the way I just set this up, or kristen or should we have milk toast? Andrew Dunn do it.
40:20
Kristen Ahlenius
No milk toast. No, you set it up really well. Let's just run with it and get personal. And.
40:34
Peter Dunn
You know, the thing is, this is a better topic for the podcast because the radio audience, they're just going to Home Depot. They just turn on something to not listen to road noise, and now they're going to feel judged.
40:48
Damian Dunn
Home Improvement is not going to be one of the unless that's what you're going to choose.
40:51
Peter Dunn
No, but I'm just like I'm just trying to get some mulch and 80 bags of mulch because I don't want bulk mulch, which is cheaper. Just a little. Oh. Anyway, here we go. Three, two, one. Back on the Pete the Planner show. You know, when we came into the studio this morning, virtually, of course, because we don't like being in the same room together because I smell of lavender and it sickens. Kristen. Kristen said, I got a good idea. Let's each choose an expense category that the bulk of society has chosen to adopt as acceptable and fine and a good use of their money. And we independently will give our take here. It's just not something that we get. We're like, I don't get it. I would never spend money on that. Or I prefer not to spend money on that. Kristen, did I explain the topic that you have intended?
41:42
Peter Dunn
Did I explain it well?
41:43
Kristen Ahlenius
Damian, is this going to be too hot for you?
41:44
Peter Dunn
Damien, is this going to be too hot for you? You got it.
41:47
Damian Dunn
Let's do it.
41:48
Peter Dunn
All right, who's going first?
41:51
Kristen Ahlenius
I am, apparently.
41:53
Peter Dunn
Okay, so Kristen is about to flamethrow. And by the way, if you're driving around going to hardware stores today, picking up light bulbs and Spanish moss that came out.
42:06
Damian Dunn
I'm sorry.
42:06
Peter Dunn
Don't feel judged by this. These are just three opinions. Your opinion is different, and it's okay. It's okay. What I recommend is finding yourself a radio platform and giving those opinions on the air. Okay. Kristen, what are people getting wrong?
42:25
Kristen Ahlenius
I think that people spend way too much money on their daily driver, as in their car. I don't get it.
42:34
Peter Dunn
Okay. Daily driver? I thought you were going daily drinker, which was your daily driver. So you're saying what you get to and from work too much money going into that.
42:51
Kristen Ahlenius
Too much money. The average new car payment is, like, $716. And I just cannot wrap my head around driving something that you spend so much money on and just depreciating it out super quickly because you drive it so much. It's just the thing that's supposed to get you to the thing that makes you money. I don't get it.
43:13
Peter Dunn
Don't you drive a really big, expensive truck?
43:16
Kristen Ahlenius
But I don't put a lot of miles on it is what I'm saying. If I had to commute like, if I had moved to Indy and I had to commute to the office, I would have bought something like low cost and made that my commuter vehicle. I would not be putting those miles.
43:34
Peter Dunn
On my I don't have a counterpoint as much as a question.
43:40
Kristen Ahlenius
Okay.
43:41
Peter Dunn
What if and I do mean what if you drive to work in whatever what do you like? A Saturn GL two. What are we driving here? Okay, so it's like a Pontiac Spitfire. No, that's nice, right?
43:53
Kristen Ahlenius
Ideally a Honda Civic.
43:55
Peter Dunn
Okay. You're driving Honda Civic. You have an important business meeting you're going to, and that's not a factor in any of this?
44:05
Kristen Ahlenius
No. And maybe if you have something really high stakes and you're worried about the reliability, you take it that one day. But I think that if you're someone who commutes that your second vehicle should if that's what you want to spend your money on, dame, that your second vehicle is the nicer one.
44:23
Peter Dunn
I wasn't really going about reliability there, Kristen. I was going the appearance of pulling up to a very important business meeting.
44:31
Damian Dunn
No, I don't know.
44:38
Peter Dunn
I don't want to pull up in something ostentatious, but at the same time, I got to pull up in something that looks thought out.
44:47
Kristen Ahlenius
Park in the back. You walked.
44:51
Peter Dunn
Dame, you don't drive on a daily basis other than maybe take your kids to school or something like that, right? I mean, not that there's know that.
44:59
Damian Dunn
Doesn'T count, but there's no commuting, but it's rare that I go a day without driving.
45:07
Peter Dunn
Dame, what is your hot take of things that you can't believe people spend money on?
45:13
Damian Dunn
Well, I think people spend entirely too much money on pets. Now, this comes from somebody who just spent a lot of money on a dog and getting cats that I didn't care about taken care of, but that's.
45:34
Peter Dunn
Because my family wait, getting cats taken care of? Did you put them down? No, I didn't.
45:42
Damian Dunn
No. Like making sure that they didn't continue to perpetuate the overabundance of cats in the world. I got them fixed, Pete. I got them fixed.
45:51
Peter Dunn
I love the cats are just like, hey, we're going to get you fixed. They're like, oh, good, my knee has been killing me. And they come back and they have no reproductive organs. It's like, oh, no. Through our eyes. What about my knee? Meow, what about my knee? And it's like, no, we don't want you to reproduce. And it's like, but sir, that was a cat dramatization. That was not real.
46:17
Kristen Ahlenius
That was excellent.
46:18
Damian Dunn
I think in America, there's like 130 or some billion dollars spent on pets a year, and that's entirely too much.
46:28
Kristen Ahlenius
Ouch.
46:29
Peter Dunn
Okay, well, if we're given hot takes that attack kristen, let me pile on.
46:35
Kristen Ahlenius
What did I do?
46:36
Peter Dunn
I don't know. Apparently having an objectionable. No, I just don't get awkward. Greg and I were talking about this in the car on the way. Just there's so much to not love about a concert. I'm going to list them. Traffic.
47:00
Damian Dunn
I knew that was number one. And part. Is parking separate or is that lumped in?
47:03
Peter Dunn
Okay. All right. Other people, other drunk people valid. And as much as I like the music that I like at the volume I like, I get the feeling that it's just too loud and you can't actually hear the words because the mix is weird. I don't know, because I don't go to concerts, but that's my feel, man.
47:28
Kristen Ahlenius
Those are, like, my two favorite things. My traffic.
47:32
Peter Dunn
I think it's traffic and parking issues.
47:35
Damian Dunn
Pete, you could just make an afternoon of it and an evening of it and deal with the traffic and the parking. Get a little exercise walking into the event center. You could go together with some friends and get a suite instead of just seats. I mean, you're too much. What are you talking about?
47:58
Kristen Ahlenius
I'm going to a concert tomorrow.
48:00
Peter Dunn
Oh, you are?
48:01
Damian Dunn
I'm going to one next.
48:05
Peter Dunn
Don't that those are the ones. So Kristen went with daily driver, which is probably the best answer. Dame went with pets, which is one. A and then my terrible answer was concert. But again, I don't think people are silly for doing it. The question is what do we personally not get? And it's just like to my taste. I just am not into that. I mean, I could also say hair care products for that matter.
48:28
Damian Dunn
Right. I was going to say do you want to know what we thought your answer might be?
48:33
Peter Dunn
What?
48:34
Damian Dunn
Cosmetic surgeries.
48:36
Peter Dunn
Oh, really?
48:37
Kristen Ahlenius
Or like not even surgery, but like hair stuff like filler and Botox. I don't know the procedure. I suppose procedure is a better word.
48:47
Peter Dunn
That's what you guys arrived at, what.
48:49
Damian Dunn
You thought I would say you are in Carmel.
48:52
Peter Dunn
That's true. There's a lot of.
48:56
Kristen Ahlenius
That'S.
48:56
Peter Dunn
Interesting. I personally wouldn't do it, but I guess that's the same thing with concerts. I don't know. It's a really great question.
49:03
Kristen Ahlenius
I feel attacked. I regret suggesting this segment.
49:08
Peter Dunn
Do you feel like we secretly have vehemence towards you based on the two things you just heard, like a pet owning concert goer.
49:19
Kristen Ahlenius
I don't know how to answer that question. Hopefully not.
49:22
Peter Dunn
But based on what your own sister said in the live chat just now, not only did we fire shots at you fired shots at yourself because you have the nicest of us.
49:33
Kristen Ahlenius
It's not a daily driver. That's the whole point. It's the car you take to the concert.
49:41
Damian Dunn
Yeah, it's only because you don't have to drive.
49:43
Peter Dunn
Yeah, it's not a daily driver because you work remotely.
49:47
Kristen Ahlenius
I would buy a daily driver if I had to.
49:50
Damian Dunn
You can't claim your golf cart as a daily driver.
49:53
Peter Dunn
Wait a second. So you don't have a daily driver.
49:56
Kristen Ahlenius
Right.
49:59
Peter Dunn
Because you don't have to drive anywhere.
50:01
Kristen Ahlenius
Right, but if I did, it would be like a Honda Civic or a Ford Ranger.
50:07
Peter Dunn
So wait a second. How many days a week do you get in your car and drive somewhere?
50:12
Kristen Ahlenius
I think I got in my car once this week.
50:14
Peter Dunn
Okay, but isn't daily driver in the eye of the beholder as to what it means?
50:21
Kristen Ahlenius
My eye, apparently.
50:22
Peter Dunn
Yeah, your eye with pet dander and really loud concert sounds coming up after the break. Speaking of biggest waste of money, a biggest waste of money of the week aimed right at Damien's forehead. That's next along with the news right here on the top 1% of podcasts in the world, the Pete the planner show. I'm Pete the planner. We're top 30,000 y'all. Kristen, I'm sorry you felt attacked.
50:50
Kristen Ahlenius
It's fine. We all decide how we you guys. What else am I going to spend my money on?
50:55
Peter Dunn
But Damien, you spend a ton on pet. I mean, how can that be yours when you guys spend so much on pets?
51:03
Damian Dunn
I don't like it, I wouldn't have spent a penny. I wouldn't have spent a penny on any of those cats.
51:14
Kristen Ahlenius
It was the right thing to do.
51:15
Damian Dunn
Probably a total of $25 to $0.50 on those cats, but it was the right game. No, I wouldn't have done that. I'm kidding. That was funny.
51:29
Kristen Ahlenius
It was the right thing to do.
51:32
Peter Dunn
Greg and I, we rode in the car together for, like, 12 hours this week. So we covered every topic, and I decided it that never mind. Never mind. This is a bad idea. Abort, Abort, I am not going down that path here. We oh, tod asks, did we ever get a response from Dylan for the income guessing games from a few weeks ago? We did.
51:58
Kristen Ahlenius
Thanks, Tod.
51:59
Peter Dunn
That's right, we did. Have we disclosed that on the air yet or not? Okay, well, let's do that. Right? Well, do the radio people care? I mean, they're just going to get the geraniums.
52:10
Damian Dunn
They probably don't care.
52:12
Peter Dunn
Okay, so you guys actually have memories. Can either of you set up what we're dealing with? Dylan gave us a bunch of details about his financial life.
52:23
Kristen Ahlenius
Right.
52:23
Peter Dunn
The three of us made wild assertions about what we believed. Well, two of you made wild assertions. One made a really good guess.
52:31
Damian Dunn
I've got it.
52:32
Peter Dunn
Okay.
52:33
Damian Dunn
He was thinking about purchasing some home gym equipment for a nice chunk of money, around $4,000. But instead of spending it all at once, he could put it on a payment plan and get it paid off over a year. Zero interest payment plan, I believe, for $333 a month for the year, or for whatever that ends up being. And then he gives some details. They were doing really well, absolutely crushing all sorts of different areas in their financial life, and we decided were going to take a stab at guessing his income.
53:08
Peter Dunn
Now, I would like to note I have a lot of confidence in this area. I am a carney in my own mind, with all due a carnival worker, with all due respect, carnival American who thinks they're really good at guessing this. So I was very cocky, and I guessed, I believe, 175,000 American dollars.
53:30
Kristen Ahlenius
Yeah.
53:31
Damian Dunn
Dame guessed 250, if I remember correctly.
53:34
Peter Dunn
And Kristen, I think you were 280. We we asked Dylan to email back in. What do you really make as a household? And what did young Dylan say?
53:47
Kristen Ahlenius
I don't want to say.
53:48
Peter Dunn
Let's hear it.
53:49
Damian Dunn
I genuinely don't remember. I think it was like was it 185 or 190?
53:54
Kristen Ahlenius
I think 185.
53:55
Peter Dunn
Yeah. I nailed it is what I'm saying.
53:58
Kristen Ahlenius
Yeah.
53:59
Peter Dunn
It's what I do. I have no other talents. I have nothing else to offer this.
54:03
Kristen Ahlenius
Society that's it been dethroned.
54:09
Peter Dunn
Okay, speaking of bad guesses, you guys ready to do bomb?
54:12
Kristen Ahlenius
Yes, Dame.
54:13
Peter Dunn
I'm really excited about this one.
54:14
Damian Dunn
I can hardly wait to see how I'm going to be insulted this week.
54:18
Peter Dunn
No, this is like paying homage to you, actually.
54:24
Kristen Ahlenius
Flashlight.
54:26
Damian Dunn
Nice.
54:26
Peter Dunn
Three, two, one. This week's biggest waste of money of the week right here on the Pete the Planner show is I'm going to tell you here in a second. It's the night core EDC 27 flashlight. EDC, of course, stands for everyday carry. No law states that a flashlight has to be cylindrical with LEDs and lithiumion batteries. Form factors are unlimited, including shapes that fit better in pockets. The Night Core EDC 27 features a slim flat body that doesn't poke just like Dame prod or snag when crouching or sitting along with a clip for securing it outside a pack or pocket. The power switch has a lockout to prevent accidental activation while Karen and the turbo strobe switch is recessed for the same reason. So there's not a party in your pockets. I added that piece of copy. Did you like that?
55:29
Damian Dunn
I did.
55:31
Peter Dunn
An OLED displays voltage, remaining charge and the output level of the 3000 LM beam with a throw of over 720ft. All right, kids, first off, Rick swink in the comments notes because we do a live stream. You can always join us. 10:00 a.m on Fridays on Facebook, YouTube and Twitter Live. He dislikes flat lights. I have no take on flat lights.
56:04
Kristen Ahlenius
Very on brand.
56:05
Damian Dunn
You don't?
56:05
Peter Dunn
We're letting Kristen guess first because she's the world's worst guesser. Kristen, for a flat flashlight that has all of these amazing features, what do you think? It costs? Oddly specific. You think it was produced by Heinz? That's a really weird guess. That's a joke for some there. Dame, you are the pocket illumination expert on the show all things EV. What do you think? And so that would be electric vestments.
56:44
Damian Dunn
I may or may not have watched a review of this flashlight on YouTube.
56:52
Peter Dunn
Wait a second. You are cheating.
56:56
Damian Dunn
I didn't say today. I said prior. Every once in a while you got to see what other lights you can put in your pants. And this was one of them that popped up.
57:04
Peter Dunn
Are you constantly shopping for alternate pant illumination?
57:08
Damian Dunn
No. The lights I have now actually have a really great patina on them, but they just don't have nearly the output or the throw that some of these new Led lights have. So I'm considering upgrading. I've never had a flashlight in my hand, so I don't know if I have an opinion on it now, but this light is going to be 85 or $90.
57:33
Peter Dunn
It's $90?
57:34
Damian Dunn
Yeah.
57:35
Kristen Ahlenius
You have $1,000 flashlight in your pocket. Your iPhone is a flashlight and I will die on that hill.
57:44
Damian Dunn
It's also a million other things that you don't use your phone for or that piece of technology for. And if you want one specific thing to do and do it well, you're not going to use your phone as a flashlight.
57:57
Kristen Ahlenius
Hi, Karumba.
57:58
Peter Dunn
I don't see you as a flat flashlight guy.
58:01
Damian Dunn
I don't know. Probably not.
58:04
Peter Dunn
Dame, what's in the news this week.
58:06
Damian Dunn
Pete, I'm thinking about becoming a professional whistleblower. Does that terrify you at all?
58:11
Peter Dunn
Yes, it does. As your employer, you're uncomfortable right now.
58:15
Damian Dunn
The securities and Exchange Commission said it paid a whistleblower a record $279,000,000, more than double the previous largest payout of 114,000,000 in 2020. The SEC didn't give many details, but did say that the whistleblower's, quote, multiple interviews and written submissions were vital. Whistleblower awards can amount to ten to 30% of the money collected by the SEC. What it imposes sanctions of over a million dollars.
58:44
Kristen Ahlenius
What?
58:45
Peter Dunn
It's got to be a bank. Like an investment bank situation, probably Credit Suisse or something like that. Allegedly. I don't so look, you always want to do what's right. The dangling of incentive to do what's right in a financial sense. Should that incent you, Dame, or is what's right is right. And what's really right is worth $279,000,000.
59:19
Damian Dunn
You're clearly going to have to go find a new job, so you're going to have to get a little something for the effort. If I can take a line from Caddyshack.
59:32
Peter Dunn
Have you ever seen Caddyshack?
59:34
Kristen Ahlenius
No. Is it really old? I'm just asking.
59:42
Peter Dunn
Oh, I just got a text from my daughter that says, hey, dad, have you done the things yet that I requested last night when I texted you when you were asleep? She my accountability partner now. She is on the way. Oh, we're in the news segment on the radio. She is on the way to Kings Island on a violin trip, orchestra, is that they call it.
01:00:04
Damian Dunn
My daughter is on her way, actually, she's there now to Cedar Point for a choir trip.
01:00:11
Peter Dunn
So when you have an instrument that is stringed with horsehair, you go further south and you go to Kings Island.
01:00:18
Damian Dunn
Everybody knows that they're headed in the direction of Kentucky. That just makes sense.
01:00:23
Peter Dunn
What else is in the news other than our daughter's musical ability?
01:00:27
Damian Dunn
Yeah. If you bought a Peloton bike in the US between January of 2018 and May 2023 sorry. You should stop using it and contact Peloton for a free repair. The company said yesterday Peloton found out that the bike's seat post can break while you're riding, which can lead to the worst homogeneous stationary bike injury possible.
01:00:49
Peter Dunn
What has two thumbs and ordered their replacement seat post this morning? This guy.
01:00:56
Kristen Ahlenius
What?
01:00:56
Peter Dunn
Yeah, I did it this morning. I mean, I didn't get the gruesome injury. I ordered the replacement seat post this morning, but I did read this yesterday because it came through. They're recalling 2 million bikes. There were 34 incidents in which the seat post snapped or whatever. And the severe injuries included one of the most severe injuries, a broken wrist. And it's like, I hope your wrist is better, and I don't want people breaking their wrists. And there could be much worse than that. But it's wild to think 34 incidents. 2 million bikes recalled that's a big loss. And not that this person's wrist is not important.
01:01:36
Damian Dunn
That's not the injury I had envisioned when I thought about seat post breaking.
01:01:41
Peter Dunn
Yeah, so you just, like, tumble over and you go, oh, no, you're clipped in.
01:01:46
Kristen Ahlenius
That's what I'm saying. I feel like you would break your leg because you're stuck to the bike.
01:01:55
Peter Dunn
Well, just like taking your cat to the vet.
01:01:59
Kristen Ahlenius
Oh, boy.
01:02:00
Peter Dunn
Peloton fixed this, right? Dame, was that a callback? Did that work? Yeah.
01:02:04
Damian Dunn
That's great.
01:02:05
Kristen Ahlenius
He's still salty. It's fine.
01:02:08
Damian Dunn
The conference board released new data showing that 62.3% of US. Workers are satisfied with their job, the highest share since the business research organization started the survey in 1987. What's behind the newfound satisfaction? It's not kombucha on tap or yoga wellness retreats or because next Friday is Hawaiian shirt day.
01:02:27
Peter Dunn
No.
01:02:28
Damian Dunn
Instead, it's resurgent employee happiness, mainly attributed to hybrid work arrangements, job flexibility, and the tight labor market that's allowed people to leave jobs they hate for jobs they like or at least hate less. But even worker satisfaction has a gender gap. Women are less satisfied overall than men in 26 categories surveyed, including leave policies, promotions, and culture. The biggest gap was in job security. 68.7% of men felt satisfied with job security, compared to 61.8% of women.
01:03:00
Peter Dunn
That tracks. I mean, to be fair, there's a couple of issues there that are systemic. The fact that women are paid $0.78 on the dollar. I mean, there's going to be some more dissatisfaction there.
01:03:10
Kristen Ahlenius
I don't believe the overall number. I don't feel like 60% of the people that I know are satisfied.
01:03:18
Peter Dunn
Wait, you think it's less than that? Kristen.
01:03:20
Kristen Ahlenius
Yes, I do.
01:03:21
Peter Dunn
First of all, wasn't it a year ago where no one liked their job and everyone's leaving? It's like so we're at 62%. Now we're at zero, and now we're at 62.
01:03:30
Damian Dunn
Yeah, that was the big surprise to me was that all of a sudden it seems like everything has swung. We went from the great resignation to, hey, this is great.
01:03:37
Peter Dunn
Well, even on our show, only 33% of people on the show like their job.
01:03:41
Damian Dunn
It's true.
01:03:41
Peter Dunn
So I do think it's probably lower. What's wrong?
01:03:48
Kristen Ahlenius
Nothing.
01:03:50
Peter Dunn
All right, that's all we have time for. Great show. Reminding all of those people in the world we are one of the top 1% of podcasts in the world, which is unbelievable, yet true. You want to listen to it? Go find the Pete the Planner podcast. If you missed any part of the show sending good vibes, because good vibes are all that's in the budget, even for a top 1% show on Pete the Planner. Good day. Yeah. Kristen again, we're what, 1218 months removed from everyone hating the job? Everyone right. 62% seems really overly optimistic.
01:04:28
Kristen Ahlenius
I'm just thinking about the people I know. I don't know about you guys, but when you have conversations with people, what do you do? Do you like it? And. I just feel like 62%. Sorry.
01:04:40
Damian Dunn
I would have loved to have seen these results broken down by age to see if do younger folks hate their jobs more because bingo. Yeah. Or is it people who are close to retirement or what's the pattern here? What do we see?
01:04:57
Kristen Ahlenius
I think it's a sandwich.
01:04:59
Damian Dunn
I do, too.
01:05:02
Peter Dunn
Sandwich hungry. Quit talking about food.
01:05:06
Kristen Ahlenius
Sorry.
01:05:08
Peter Dunn
Anything else? Anybody got anything interesting they want to say before this 1% taps out?
01:05:13
Kristen Ahlenius
I'm not falling for that.
01:05:15
Peter Dunn
What?
01:05:17
Kristen Ahlenius
Because you ask us, you say it's not interesting? What?
01:05:23
Peter Dunn
No, go ahead.
01:05:25
Kristen Ahlenius
No, I don't have anything to say, but I'm not falling for it. I'm not going to try and come up with something.
01:05:29
Peter Dunn
Dame, what do you have?
01:05:30
Damian Dunn
I thought you were just going to cut her off in the middle while she was talking and that was just going to be how the show ended.
01:05:35
Peter Dunn
Oh, that would have been much better. That's a 1% move right there.
01:05:38
Damian Dunn
I even tried to stretch what I was saying out a little bit. So you could have cut me off while I was saying it.
01:05:45
Peter Dunn
I feel like I'm going to get us all T shirts that say the Pete the Planner Show. We are the 1%. What do you think about that?
01:05:53
Kristen Ahlenius
One percenter.
01:05:54
Peter Dunn
One percenter.
01:05:55
Damian Dunn
I'm fine with that.
01:05:56
Peter Dunn
What sort of swag do the youngs like these days? Kristen, do I need to get, like, a Yeti cup that says we are the 1%? Is that something you would like?
01:06:03
Kristen Ahlenius
No, I'm past my yeti days. My favorite piece of swag that we have is that hold that. I know it's a Yeti, but that's just because I'm cheap and I'm not going to replace it. I'm going to use it. It's perfectly fine. But that beanie that we got, that is my favorite piece of swag that we have right now.
01:06:22
Peter Dunn
I like the black long sleeve T shirt, crew neck sweatshirt.
01:06:26
Kristen Ahlenius
That's true. That T shirt is probably a close second.
01:06:30
Damian Dunn
I feel our rating slipping to one and a half percent right now.
01:06:33
Peter Dunn
Okay. Yeah, we should go. No one cares about any of this stuff we just talked about for the last two minutes. I hope you skipped forward and moved on to Malcolm Gladwell. Stay getting money. Stay getting money.
