Top 5 Money Lessons From Movie Characters (SB1398)

Now your ideas don't have to wait now. They have everything they need to come to life Dell technologies and Intel are creating technology that loves ideas loves expanding your business evolving your passions We push what technology can do so great ideas can happen right now Find out how to bring your ideas to life at Dell dot com slash welcome to now It is Monday morning in America. You know what that means? It's time to raise our glass. I just got water today me too. I'm lock Oh, but Doug's water comes in a can he can that's how rich I am mine comes out of the hose out in front of the house I'm vodka yours is all vodka three quarters of the way full. Is there another way reminds me of my high school social studies teacher What vodka mr. Barobi yep vodka well while teaching. Oh, yeah, wait out of by the way. Oh nice I'm sorry. He means mr. Smith That's right. I'm behalf of the men and women making podcast in mom's basement None of which you really have vodka and the men and women at maybe federal credit union who definitely aren't doing this toast with vodka Here's to our troops keep it a safe. Let's go. Stacks and benchmarks together. Shall we? Looks like you've been missing a lot of work lately. I would say I've been missing it Bob Live from Joe's mom's basement. It's the stacking Benjamin show I'm Joe's mom's neighbor Doug and what have you learned about money from the movies me? I learned that greed is good today O.G. and Joe will fill your list of streaming goodness as they share their top five financial lessons from movie characters But before that what's the future of work from home? We'll share one story that may help you plan for the future and in our TikTok minute We'll finally talk some common sense and athletics But that's not all we'll also throw out the Haven lifeline to a lucky stacker and then I'll share some gross trivia And now two guys that were in my top five It's Joe and oh Right or try to sneak one in there on me. We make honorable mention at least honorable mention No, it depends on the day the highlight reel. It's dated touch and go man. Yes Hey, everybody welcome to try to get on Doug's good side podcast. I'm Joe. So I'll see high every Joe money on Twitter By the way for shadowing's one thing O.G. and I had a hell of a time putting these top five together and you're already like quoting one that may or may not Beyond one list or two. What are you doing proves to everybody that I'm one step ahead of you boys? Just absolutely holy cow. You know what dude before we get into the movies before we get into this awesome headlight and our TikTok minute Doug we got to have a talk you about to set me down. Yeah, let's start right here If you don't know my money story You don't know the back in the 90s. I was absolutely horrible with money and the big lie kept telling myself was if I just made more money It didn't matter if I tracked my expenses. It didn't matter if I had a budget. That is a lie What really was the linchpin and that made money so much more collaborative for Sheryl and I was a 20 minute meeting That we had every week which focused on all of those things Well, what's cool is if Sheryl and I back then had had monarch money things would have been even So much better. It's so powerful. You get great collaboration tools We can see exactly money coming in money coming out our transactions. We can see our net worth We can see Trends that have happened during the month and we have all of our goals in there So it's very easy for us to have our 20 minute weekly chat over wine or pancakes Toward reaching our goals if you've ever been frustrated with personal finance apps that are cluttered with ads Difficult to use or rarely updated. It was one of the original PM's that meant actually who created monarch who wanted to build a new kind of personal finance app Toative and powerful add free constantly proving based on customer feedback And that's why he started monarch Monarch is the top rated all-in-one personal finance app. It gives you a comprehensive view of all your accounts Your investments your transactions cash flow net worth and more plus you'll create custom budgets Track progress toward financial goals and collaborate with your partner and now our stackers will get an extended 30-day free trial When you go to monarch money.com slash Benjamin's unlike other personal finance apps Monarch simple intuitive design makes it easy to set up customizing use Monarch has built-in features to collaborate with your partner your family or financial advisor Invite them to your account at no extra cost and they'll get their own login info and a joint view So you can have fantastic conversations Monarch is the most customizable budgeting app you can change the layout of your dashboard You can toggle between light and dark mode create custom budgets notifications set up automatic rules for transactions and notifications and more and mostly Monarch is obsessed with constantly improving the product which I super like Cheryl and I have been using it now for the last three weeks It was amazing when I first set this up I told Cheryl on the on the first day that I even gave this a trial run I said I can't wait to have our discussions By the way our 20-minute conversations have been fantastic since then so after trying it out I get why monarch is the top-rated personal finance happened right now Stackers are going to get an extended 30-day free trial when you go to monarch money.com slash Benjamin's that's M-O-N-A-R-C-H-M-O-N-E-Y.com slash Benjamin's for your extended 30-day free trial monarch money.com slash Benjamin's Hold on. I'm halfway down play another one We just about made it to fall and hello fresh is here to help you plan for the busy season ahead with tasty dishes Delivered right to your door simply choose your recipes and pick your delivery date then lay back and enjoy the last days of summer knowing Your dinner is covered to seem like your family's hungry like all the time well add snacks sides and more to your weekly Hello fresh order just simply shop hello fresh market and take your pick from a curated selection of over a hundred Add on items and if you're worried that you don't have enough time Because you're too busy stack embedgiments Well let hello fresh help when life gets busy. 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I've very quickly am able to come up get shopping put some music on and you know what It's absolutely fantastic I also don't just like the fact that it saves me time getting rewrite into it I like the fact that I'm eating something way more fresh and way more Healthy than I will if I find myself at a restaurant I know I've talked about the Gouda burgers before But if you want to make an awesome hamburger make sure the Gouda burger is one of those hamburgers It's so absolutely delicious Here's what you do stackers go to hello fresh calm slash 50 SB and use code 50 SB for 50% off plus free shipping That's hello fresh calm slash 50 SB and use code 50 SB for 50% off plus free shipping To try hello fresh america's number one meal kit And so yeah, that's why we don't do that I thought you were gonna end with and stay out Nah, I'm just joking. We get a great show man. Where would it be without your trivia? We're to be without all that it would be at episode three. Oh, do you got your list ready? Oh, yeah, I have a list of six So perfect. Well, let's get this show rolling then Hello doggings and now it's time for your favorite part of the show our stacking Benjamin's headlines By the sound of Joe's bitterness. He's down to four now since I took one of his maybe maybe We'll plow ahead no matter what we'll do it live Our headline today comes to us from market watch. This is written by Jeffrey Bartash Most businesses plan to stick to current work from home arrangements a fed study found OG that it looks like businesses want more employees to show up at the office But they still plan to stick with current work from home arrangements for the foreseeable future That's the chief finding from a new survey by the new york federal reserve bank The reason companies are content to keep doing what they're doing the poll found is that they want to stay fully staff turns out that employees OG really want to have some days working from home But I think the reason I brought this up is you know, this isn't about spending money or investing money This is about making money and some of the videos I've seen lately of work from home Have one of two things happening either a Somebody is not working at all because they haven't figured out how to actually work from home because there's too many distractions Or on the other side People that watch this on YouTube. Oh gee just point himself right there or on the other side There's no boundaries five o'clock comes five o'clock go six o'clock come six o'clock go seven o'clock eight o'clock nine o'clock It's now midnight And we're still working for the quote man instead of doing our own thing So oh gee, I thought it's time for us to have a discussion because you and I have been working from home for a long long time And I think we may have learned a couple things about that. Yeah, I mean ultimately If you don't have discipline At the office you're sure a second I can have discipline outside of the office I think we all got a big long haul pass for quite a while You know and companies are probably jerking the wheel in the opposite direction as much as they were During COVID and the work from home and doing things like I mean I'm hearing stories of like keystroke loggers, you know Hey, it's a work computer. We put whatever we went on there. Your mouse wasn't moving over a period enough periods of time Therefore you must not be actually engaged and and then with that amount of oversight comes like ways to hack that right like now I have this little I have a mouse that I mean there's companies that sell mouse jigglers Right, you know, it's not what you think get your mind out of the gutter dig it the whole different thing But So it's like this race to the bottom of like who doesn't trust who the most you know what I mean It's like well, I don't trust you to do work So I'm gonna put this on your computer. I don't trust that you're gonna believe that I'm working Even if my mouse isn't moving so I'm gonna put this on my computer like did did did did did we just go back and forth and As opposed to just measuring for results sure and I think if you're working with the right company You probably hopefully don't have that situation if you're working from home The harder thing is though is that why does your boss do that in the first place? Because they know there's some mess around going on and and don't get me wrong I'm sure for you. It's the same it is is for me. Oh gee if I've got to get up and go to the store in the middle of the day I can do that But largely I've had to do the same thing. I know you've done which is I've partitioned off space and time Which is specifically for work And the hard part is for me actually then getting out of that which we'll talk about in a second But I think a lot of people think oh you work from home that means you do nothing you just take naps all day That is not true. Oh It's not entirely true That's all the truth maybe for one of us That is not true, but I think too many people think that flexibility Means I don't to do anything and I think you get this this horrible lesson maybe from your boss you know later on that I kind of got to figure out ways to keep the ball moving Ultimately just comes down to trust How do you earn it you earn it by delivering results? Yeah doing when you what you say you're gonna do Show up on time say please and thank you right all of those things that we've learned and try to remember to practice from time to time But I think this starts at the higher level Not the lower level. I think that the executive team or the manager or whatever need to just manage to Outcomes and not to hours time in time in service Just because you're jiggle in your mouth. Doesn't mean you're getting anything done. That's right. I mean dug jiggles as long as something three times a day We we we have had I just that thought how did you not expect us to do that you said it stay with us stay with it easy You know one thing I'm always reticent to do Has been to tell my boss. Hey, guess what I did I did this and I did this and I did this today And I did this like you know like I feel like I'm flexing but I but I think if you work from home You have to do that to some degree Because otherwise studies show your boss thinks if they don't see you they think you're doing nothing So I think you have to get used to over reporting what you're working on So that your boss knows there's actually something going on under the hood Yeah, I mean you can do this a lot of different ways team meetings every single week You know here's my priorities for the week Here's the status of the projects that I'm on here's what I'm working on this week Here's what I hope to have accomplished this week. We got to do that for yourself anyway Work expands in the amount of time allotted for it right think about the next time. I mean Joe you and I right now are in Denver At podcast movement, which is work-ish, you know, there's some leisure time in there But we had to think about okay, all right So Joe's gonna be gone or jeez can be gone Like we start structure and what what happens to our podcast schedule get it all jammed in and we go oh well That was easy we could just record a couple extra shows and boom. We're done. We did a whole bunch of work In preparation for this, you know, this this period of time off or at least four days when we'd be normally working From our homes So the same thing happens with your real work, right? You know you got a vacation coming up. It's amazing what you can get done The week before vacation. It's amazing when the project is due How little gets done until two weeks before the project's due and then and then you can work your butt off So unless you unless you structure unless you just structure it out ahead of time Especially with the flexibility of working from home. Yeah, and I definitely love being able to do that But for me, I don't know how you organize your day. Oh gee, but I have to put it right on my calendar Like to do list is junk for me If it's on my calendar, I do it if it's not on my calendar I don't so But you know, my team looks at my calendar It has every little thing that I'm going to do that day with a set time that I'm working on that because I have no boss looking over my shoulder But I know that I'm gonna be accountable for those results Yeah, I'm on sticky notes. That's kind of my My system for getting stuff done. You're also really good at batching as well Yes, and no, I mean our like our podcast recording is an example of that, right? It's a love-hate relationship with recording a bunch all at one time and then and then being done with that activity For another few days Well, and then there's the other side of this which is people that That can't turn it off right and bosses may not know that but bosses may get used to the fact that you can overachieve every day And they don't realize this because you're working till you know these increasingly late late late hours I had a great mentor early on in my career because when I became a financial planner I had freedom of schedule from the very beginning And I remember Alice telling me to come home at the same time every day Even if I didn't have anything to do with the office OG come home at the same time every day And the reason is is that a I will take seriously my time away And then on the other side if I showed up in the middle of the day and Cheryl happens to be home then Then she assumes I can do that every single day So the people around you Will not help you Create this little time box. They will help you destroy your time box If they think you can go out to do xyz, you know go do the grocery shopping at 1.30 in the afternoon They will help you so I love that advice turn it off at the same time every day And all those other things that you're doing too right I mean it sends a signal to The family it sends a signal to your neighbors You know, it's like you know it's okay if you want to go take a walk at 11 o'clock in the morning And and that's the scheduled time to do that have at it But if you're kind of random with your day, you're gonna have random results Which kind of leads back to that whole What's what's happening? Yeah being output focused. Yeah, I like that start with the output and then organize your day from there Coming up next time for our TikTok minute This is a part of the show where we shine a light on a TikTok creator who's either talking about something brilliant or maybe air quotes brilliant OG, I know we went to you last time and you had to agree that it was pretty brilliant What do we got this week brilliant or air quotes brilliant definitely brilliant What what what are you talking about who are you? This is just a thing so we've seen talking about money You know, we've seen the money be a demon dug you talked about greed is good right good We may or may not hear that in a clip later from our top fives But it definitely is on the list of lines that a lot of people know that are fans of anything finance But that money thing OG that greed monster has hit college athletics recently Where all the sudden we see all of these colleges changing conferences changing the game The pack 10 now is uh, is it gone officially? Is it well? What's the pack 12? We believe 12 was the pack four in the pack four yes But what's cool is this guy Kent sports on tiktok had a brilliant idea Now that four of the teams in the pack 12 have joined the big 10 Listen to what they can do which might actually even make them even more money than they're thinking about now Watching to an organ off to the big 10 this tweet just makes too much sense So Kyle Robbins says crazy idea here add stanford and cowl to get it 20 Divide the new league into two conferences one can be the big 10 and the other can be the pack 10 Like where this is going the two conferences can play for a championship In the Rose Bowl absolutely genius Isn't that great It's never been done before A new big 10 at a pack 10 imagine the money that would get if they just did that Split it in half. Yeah Play for a championship once a year It just makes me remember you know if somebody it makes me think like if somebody did the same thing with all these different streaming services Like package them all together. Yeah, so you just had them like him one one fell swoop Yeah, you could watch any channel you wanted at any time and it was all it was all just it was organized by time and date what Live in the dream then yeah, live in the dream. How great would that be toggle back and forth easily between house hunters and the game You know depending on where you're at what fabulous Don't want to watch the weather remember the picture and picture days Do picture and picture anymore? No, they that got they all colluded to get rid of it Well, I mean it makes sense. I mean they brought a streaming instead right so I can just Fully watch whenever I want. Well, they really did That's obviously technically it's been technically feasible forever But they all got together and like yeah, we don't like what that does to Tensions are red revenue. I'm glad that's gone though. My EDD couldn't handle it It's just too many now some of the services like YouTube and I want to say dish they have some sports channels that will give you six tiles. Yeah, the red zone channel and red zone Yeah, but that obviously just that's just one sport, but yep red zone just drives me crazy my ADD just goes crazy on the red zone Ah, good idea hunter tic-tac minute. It was brilliant OG don't you think I had my fingers crossed so it didn't count but yeah That sucked us in they tricked us the whole time Doug tricked us all time and both coming up next We decided to have some fun this week with the top five, you know I've been thinking that if you've listened the show for a long time. You know how much OG dug and I Love talking about what's on TV talking about what's on movies But we've never put together a top five out of all the top five we've done over the Many many years of the stacking Benjamin show we have never done a top five Financial lessons from films from film characters. So we're gonna dive into those in just a second But before we get there Doug you said you had some gross trivia. What's what's gross? Oh Well, just let's see how the story unfold hey there stackers on Joe's mom's neighbor Doug and if you know anyone out there Is a doctor. I made a troubling discovery when I got out of the shower this morning Hey speaking of discoveries in 1848 a man named James Marshall found golden them their hills in Coloma, California This sparked the gold rush that lasted several years and brought a massive influx of people to the west coast Well, that you know all the legal weed although California is known for being the epicenter of entertainment It's the state's tremendous agriculture industry that puts its GDP above those of most countries Here's today's trivia question. What in the world is GDP stand for? I'll be back right after I apply some more cream to my situation here I Just learned to discover credit cards do something pretty awesome at the end of your first year They automatically double all the cashback that you've earned. That's right. Everything you earned doubled all the cashback from eating your favorite soup dumpling restaurant doubled all the cashback from the trip where you So we're to learn to snowboard Also doubled and the best part you don't have to do anything ridiculous to get it Nope, discover does it automatically seriously though. See terms and check it out for yourself at discover.com slash match We hear it's a great funny show on earth. We know all about fishing scams and how devastating it could be how many times Have we done headlines about this and just the havoc And not have it's not even a good enough word the fact that it can just ruin your life Hey, everybody. I'm Joe Salcihi here to tell you about delete me Protecting yourself from financial risks should absolutely include protecting yourself from online identity theft Or fishing scams in fact You know this happened to our friend Shannon Allen. We were talking about this over on the stacking deed show Shannon had a situation that you can hear in a past episode where she accidentally gave over $50,000 to somebody who was pretending to be Part of her mortgage company. They took the title company stuff They pretended exactly who they were That is funny even on a smaller level, you know Cheryl gets things and will text me and go hey I didn't know that UPS had something coming and I said don't open that she said why not because that is not from UPS UPS Will not text you the way that these people text you Delete me helps you keep your personal info safe by removing it from hundreds of data broker websites that sell our data online You tell delete me exactly what info you want deleted and their privacy experts take it from there I've done it myself it takes minutes To set it up. It's really that simple to protect yourself delete me makes it easy. So right now For our stacker community you're gonna get 20% off your delete me plan when you go to join delete me.com slash Benjamin's and if you use promo code sbs20 that's sbs20 the only way to get 20% off is to go to join delete me.com slash Benjamin's and enter code sbs20 Hey there stackers on gold digger and wait Well, no, no, not that kind of gold digger gold gold lover gold lover and cortisone 10 user Joe's mom's neighbor Doug and today we're talking gdps You may remember having learned about them in your high school health class I just found out that all countries have them. Well, that makes me feel a little better Today's trivia question is what does gdps stand for the answer gross to oh Gross domestic prada I think you need to read your own trivia how to time do that it does make a little more sense now that I see it written out I guess I don't have one then apparently But a country or states gross domestic product is the total monetary value of all the goods and services produced within the borders of that area for a given time frame. duh The gdp is what's used to determine the economic health of a place whoo Man, that was a close one and now back to Joe and OG with their top five financial tips for movie characters Oh OG ever a problem with your gdp No, thank goodness It is apparently it's not very good based on what Doug saying you have to have the pee to have a problem with the gd These these top five Financial lessons from film characters. My problem OG was I didn't have a problem coming up with five I had far too many. How about you? Uh, yeah, I mean if I had more time I would have come up with more than more time six I did Wasn't this your idea to begin with what do you mean if I had more time it was not but we did tell him like three days ago Which for people that don't know OG is is like a world of time two and a half days too early You can't give him that much time. That's the issue here. And then what was the text message this morning Yeah, I need a few more minutes. Yeah, yeah, we we may need to record this a little later You know, let's talk about our list for a second before we do this OG because I did try to stay away from I have a couple obvious ones in here, but there are three really obvious ones that I didn't include that I just want to nod to because I just thought You know if we come across with the same list of movies over and over and over and over and over it just is I don't know. I just found that kind of boring So a few I wanted to give nods to I did not have risky business on my list Which is a great look at how futures and commodities markets work pretty funny Trying to curb the orange juice market, right? No, no, no, no, no, no, no, no Not risky business. That's trading places trading places. Oh my gosh Risky business is where you're trying to have a party right when you're trying to be a pimp and other great There's a different thing Still important the world's oldest professional management organization. We could have had the wolf a wall street or boiler room Could have also had um I thought about a Christmas Carol Ebenezer Scrooge. I think is a fantastic lesson my number six was the big short Which is a great primer, but you know money ball. There's so many so many good ones, but mine weren't that straight forward. Oh gee How about yours pretty straight forward? Yeah, let me uh Sure sure didn't pick any from local wall street or Wall street or big short My head any of those definitely didn't pick any of those Well, who do we want to go first? You can go first. All right Number five. I'm so glad that I get to go first because I get to play the clip that I think Everybody is expecting. This is my number five from a movie that appeared in the mid 1980s Point is ladies and gentlemen Greed For lack of a better word Is good Greed is right Greed works Greed clarifies cuts through and captures the essence of the evolutionary spirit Greed in all of its forms greed for life For money for love knowledge has marked the upward search of mankind and greed You mark my words Will not only save tell dark paper, but that other mal function corporation called the USA Ha ha ha ha Another valve functioning corporation That's of course Michael Douglas playing the role of Gordon Gecko in the classic movie Wall Street A movie that is a great primer about all the things that are great and all the things that are horrible about Wall Street What what I really liked about this movie OG and especially this character Gordon Gecko is that on one hand I think we're all obsessed with Gordon Gecko and you want to be Gordon Gecko And as the movie goes on you see how hollow pieces of his life are But you still you end the movie with this back and forth Of course bad things are about to happen to Gordon Gecko I don't know a movie that's like this old is it okay to give away what has spoiler alert I don't know the rule on like 40-year-old spoilers or 35-year-old spoilers. What are you going to do next sixth sense Right that's right. That's right. You see what But what I do like without giving away I guess the ending is that you know There's a classic scene where Charlie Sheen's character is talking on one of these huge satellite phones to Gordon Gecko And Gordon Gecko standing on the beach and Charlie Sheen saying how many yachts can you water ski behind One of my favorite lines in the movie and I remember thinking I still think to this day I don't know, but I kind of like to find out You know Like let's see how many yachts I can water ski behind and there is a piece of greed And you do kind of nod and at the same time there's so much bad that happens in the movie There's so much bad that you see around you that he's such a conflicting character Which is what I think makes not only this movie great Really dives into why capitalism is to quote OG you know the best thing and the worst thing all wrapped into one So I think That's my number five wall street. I've got Off the wall number five. See if you guys can figure out where this one's from Man, I see a fight club. The strongest and smartest men have ever lived You see all this potential Nicely squandle Entire generation pumping gaps waiting tables Slaves with white collars I Advertising has this chasing cars and clothes Working jobs we hate so we can buy We don't need How's that one for a little fight club going on advertisers have us buying cars and clothes and working jobs We hate for stuff we don't need courtesy of bread pit. Yeah, courtesy bread Fantastic film that by the way. I have never seen well. You can't admit to it anyway So I should have finished that with as far as you know. That's right Yeah, stop trying to impress everybody. I like that message. I mean, how many times have we heard that over and over from guest Here that we're buying a bunch of stuff for for what filling up cubic feet of space, right? Yeah Number four. Okay, number four is for me. So let's do Number one rule of Wall Street Nobody Okay, if you're one buffer or if you cheer me but that nobody knows if the stock is gonna go up Downsideways are in circles at least to wall stock brokers, right? It's all a fugasi. You know what a fugasi is Fugasi. It's a fake. Yeah, fugasi fugasi. It's a wazzy. It's a wazzy. It's a Fairy dust. It doesn't exist. It's never landed. It is no matter. It's not on the elemental chart. It's not real All right, okay, that's markana of course From of course from the wolf of Wall Street saying that's just before the pounding your chest. Yeah, just after just after the pounding your chest moment Yeah, no true words Nobody has any idea of stocks gonna go up downer sideways. It doesn't matter if you're Warren Buffett Jimmy Buffett or And least of all stock brokers Have you ever quoted that in a meeting? I don't care if you're Warren Buffett or Jimmy Buffett. You don't know No, but I'm gonna start like that would be a great flex and just see if they know Right. Yeah, I mean, so you think about all the time and energy people spend on CNBC or Fox business or whatever and all the people that they have on those shows and all those Programming that starts from 8 30 the morning and ends at five o'clock in the afternoon And it's all about hey, you know apples got this announcement coming out and it is what's gonna happen to that? Nobody knows and look at what that whole movie's about OG is about a firm that's tricking people into thinking that the stock They're about to buy is gonna go through the rush. Yeah, right I mean Jordan Belford's whole scam was let's just pump and dump let's just pump these things up and then get out from underneath it and Somebody else hold on the bag. That's right. Yes Make people's dreams come true until they're not true or even talks about that right after this little section of the clip He says keep the gravy train going make some money for a client Get him to reinvest get him to bat get more money in the firm There's a different world back then for sure, but that's still true. That is nobody knows. Yes Nobody has any idea My first one was from the early to mid 80s my second one. I'm gonna move up a decade and go to the mid 90s This is a this is a film with a strong message that I think we all need to hear this movie stars two guys named ice cube and Chris Tucker Just give me three and a half minutes Maybe in folk come here. What's up big huh? I mean big wine. If you ain't got my money on my butt I'm killing you and him Break your stuff. You don't drag me into this. He said we don't pay my 10 o'clock. He gonna bust a cap and both our ass Who we need to pay him? Hey crazy man. Let's stick together now. They're gonna tell me about that big snake situation Big one big one big hole big. I don't give a damn And so it begins with Chris Tucker who's a small time weed dealer gets his buddy ice cube who is unemployed and just needs something to do gets him wrapped up into this deal where they owe this big time drug dealer Big worm 200 bucks and he's gonna as you heard cat both their asses if he doesn't get his money by that night And then hilarity ensues while they try to come up with 200 bucks Two guys that do not have two hundred dollars between them and Man, what a what a great movie Friday was I'm waiting for the lesson part the lesson is don't get into debt. Oh They won't you do you think credit cards are any different than big worm back when I had trouble with credit cards About the same time this movie was out. I will tell you they are exactly like big worm. They don't care They will take you down It doesn't matter just give me my money bank of America big worm Doesn't matter do not get into debt. That's the lesson from Friday. You're like we're having a cash reserve of two hundred dollars Absolutely that movie. I'm gonna gotta laugh my way through that movie Number three, I tried to structure where all these movies came from for just from different genres, you know and There was a movie I'm gonna go up another 10 to 15 years to a film that I super liked and IMDB just did not agree with me. I'm this one, but this is one of my favorite movies and it stars Sally field And it's called hello. My name is Doris and in this clip. Oh gee Doris is a person who is nearing the end of her career She's always lived with her parents her parents have have died. She's never had any life She's never gone anywhere. She's never done anything. She has problems with hoarding. She's big big problems with hoarding and She gets a new guy at work who's maybe 20 years younger than she is and she decides that she really likes this guy And she thinks that he likes her too and this is him Approaching her cubicle while she's while she's typing away I just wanted to say thank you for the coffee earlier Also, sorry if I was rude and it's been on me about the summer catalog since I got here It's been kind of a thing. Oh, it's okay I understand Is that a baby boy on the nuclear winter city? Yes, that's my favorite band You're kidding I wouldn't have thought that you'd be until electronica. Oh, I am. I'm a real music person. I like You know electronic do-wap and show tunes Hear baller Doris Straight up Thank you. Found it And he sticks out his fist to say powder. She has no idea what the hell to do So she grabs his fist and shakes it Because she likes EDM music and do up and show tunes, you know because Doris is quite a baller So she thinks they got something going on By the way, somebody had just left that CD on her desk like literally a minute before so she's lying her ass off No idea She ends up though with these new friends and this whole new world around her OG and the lesson I think from Doris that I've really loved is from 2016 Is this not about stuff Doris has all this stuff I mean to the point that there seriously is a hoarding problem going on at home And she's never once lived and now she's at the end of her career And she's for the first time in her life figuring out what Living is to the point that she thinks it's love she thinks she's in love with this dude Way way younger that her Totally living a different life and just she's so in love with this idea that she now Can have a life that That there's some mixed signals going on which creates a lot of comedy So hello my name is Doris was I thought a great movie But also a great lesson about not about what you got But what you what you really go out there and do Okay, my number three You brought this movie up before the big short which obviously kind of chronicled all of the Housing market and all that sort of stuff and this is kind of from the last scene Of the show or the last scene of the movie where Steve for else character is just kind of sitting by himself and he's on the phone with his Trader they're literally watching this in real-time as Stuff's about to Kind of implode They knew the taxpayers would bail them out. They weren't being stupid. They just didn't care Yeah, cuz they're crooks But at least we're gonna see someone go to jail Right Meaning I have to break up the banks We're the party's over. I don't know. I don't know I have a feeling and a few years people are gonna be doing what they always do in the economy tanks They would be blaming immigrants and poor people But Mark was wrong In the years that followed hundreds of bankers and rating agencies executives went to jail The SEC was completely overhauled and Congress had no choice but to break up the big banks and regulate the mortgage and derivatives industries Just kidding Banks took the money the American people gave them and they used it to pay themselves huge bonuses And lobby the Congress to kill big reform and then they blamed immigrants and poor people And this time even teachers And would always said and done only one single banker went to jail This push mug Karim Sarah Gelden from Credit Suisse He hit a few billion in mortgage bond losses Something most of the big banks did on a good day during the crisis Kind of the ending of the big short which was I saw you perk up. You're like wait, that's not how it went down nobody went to jail There were no banking reforms. I forgot that scene. Yeah, such a good movie There's so many lessons I think in that in the retrospection of watching it because you already know the outcome, right And so like one of the scenes earlier in the movie where they're like down in Miami and Guys like I was spinning records last week and now I'm a mortgage broker That was the clip I was gonna play when this was on my list I was gonna play the clip where Stephen Carell takes his guys to the side and goes Why are they implicating themselves like they're doing all this legal stuff and the guy goes they're not implicate They're bragging. Yeah, they are just flat out bragging. They're not admitting they did stuff wrong They're they're high five in you. Yeah, exactly. There's so many interesting ways to view this obviously It was written in the sense of being able to kind of see the dominoes fall the way that to Michael Lewis Michael Lewis wanted you to happen But I think the way that I look at this last little bit is From a personal finance standpoint. There's always gonna be stuff that's gonna go Bad the economy is gonna take a crap The you're gonna lose a job. You're gonna lose a bonus opportunity You're gonna miss out on something like there's gonna be tons and tons and tons of things in your life personally professionally financially that are gonna have Not great outcomes and then you're gonna see like what have like well. I got hosted in this deal because of This situation But the reality is is that none of that fixes you All the people that got hammered with the mortgage crisis during the recession Nobody came to their rescue basically you have to solve that problem on your own And it's completely unfair in many cases and it's completely BS that Yes, some of that's a little sensationalized about you know, they took the bonuses and you know took the bailout money Give himself bonus. I mean, it's kind of sort of what happened And that's not right But you can't do anything about that and if you sit there for years and years and years And say you know, I got screwed in this deal So I'm just gonna sit here and pout nobody cares You have to solve the problem on your own and sometimes bad things happen and it's okay to be ticked off about it And it's okay to to be frustrated But the only person who can solve that problem or take the next step is gonna be you there You're not gonna be able to just rely on The government to come in and save you unless you're a big gigantic bank basically This movie should have been on my top five and as I heard you play the list I'm like, you know, the fact that I didn't have that just to go with some movies I think I thought that that might surprise people might have been a mistake because you know Even this morning Cheryl and I were talking about this list Oh jeez we were on a morning walk and we were discussing About how you know up until this time Real estate never goes down. I mean think about all those late night infomercials We were joking during the TikTok minute about old cable TV And you go to any cable TV station at one o'clock in the morning It was playing some shite like Carlton somebody or another Carlton sheets There you go And remember the young guy with a slick back hair Greg somebody or other. I think he went to jail But there were all of these just just slimy real estate things But they weren't wrong for a long time real estate had not gone Down and because of that a lot of people got into that business Who were looking to Quote help you get in on get in on this thing They didn't really care about any outcome except their own. Well, yeah And man the lessons the lessons in in the fact that of every asset class can go down number one Number two is we learned there's a big difference between an unguaranteed money market And an FDIC insured high yield savings account like there's a huge difference between the two of those We learned so many lessons like the big short is a big Big picture. I think everybody should see 100 percent plus margo robby Not in the big short. That's wolf a wall street, but nice try. No She's totally in the big short Oh, they have her sitting in a bathtub explaining that one little bit. Oh, yeah It's like they had to figure out how to explain this really complex thing So they're like let's find the most beautiful woman we can and put her in a bathtub and just have her say the dialogue It's a hilarious device that they came up with I forgot about that. How funny that was that was That was so funny Number two. This is my number two From a film I really feel like this is in the early 2000s mark wallberg Probably one of the better soliloquies kind of scenes just to kind of really reframe and put a lot of stuff in In perspective when when you win big you got to take care of you for just a minute for just a minute do the smart thing sound You drink I don't remember if you drink of course there's drink and drink I drink but I haven't been drunk since ragging was president I got a DUI in a jail. I actually fell down and pissed my pants. You don't need to do that twice I tell you this so you'll know everybody's been there everybody's been there once Be there twice having been there once I can't help you You know Which just as a pause that is such a great like little bit of a line right there There's such a good one once if you go twice having been there once I can't help you And you know you were talking about debt and using the style of field movie That's kind of sort of like that right? It's like if you touch that hot stove one time And you drink all that and you go like oh my god that sucked And then you go do it again like I can't help you having done it once and knowing how bad it is And then you go do it again Like hey, that's man. That's kind of on you at that point fool me once shame on me fool me twice I did it wrong. I did the George Bush Shame go around. What does he say? I can't remember That's a shame the shame thing You know the thing no different guy. Here's the rest of it And it's like you listen to a fairy story about a fight with a And monster when the actual title of the story is I can't handle my look up I'm Mr. Crybaby. Hey men. I don't know. Maybe they got a problem But if they do because I don't which leads me to ask are you pulling this just now or forever? I mean you have a problem way and way and like some little girl way and way or some Somali who can't process that there's no food where they live Are you just tough temporarily because you're temporarily stupid? You long business or short business? It's the difference I need to know if you got the brains to walk when it's time to walk people don't you know Ball players who can't play anymore Trying to maintain a stand of the living not possible anymore. Well out of those around I've seen you be half a million dollars up I've been up two and a half million dollars when he got on you Nothing Would you put away nothing You get up two and a half million dollars any In the world knows what to do you get a house for the 25 year roof an indestructible jab economy Box you put the rest into the system a three to five percent to pay your taxes and that's your base Get me that's your fortress of solitude that puts you for the rest of your life at a level of Somebody wants you to do something boss pisses you off On your house ever couple bucks in the bank Don't drink. That's all I have to say to anybody in any social level. That's so great Could you pick one that was more rated R because Steve's all over that but yeah All the listeners are gonna hear his solid beep with some articles of speech and conjunctions in the middle Beep beep beep and he didn't hear any of was John goodman in the gambler Well, he's talking to Mark Walberg. He's on his third loan shark. This is his final hurrah basically before the End of the movie This is this is life. I mean you have a good thing going And then people will do the most random things To sabotage their own success along the way and you go how could you possibly do that Don't do those things having done it once Don't do it twice you get everybody gets a pass right you know We're not born with innate knowledge of how to manage money. It's not taught in schools Parents generally don't teach it well And so you get to kind of follow it up Don't do twice and if you give you're up You know if you've got some stock options and they've gone up my god take them money seriously No, that's a that's a big one. How many times have we heard people that are doing great with their money And just for who knows what reason just try to squeeze a little more out for no reason They're gonna be okay like how much is enough? You know, it's almost like we talked about with Gordon Gecko There's always this how many yachts can I water ski behind maybe it could be another one where bud fox is trying to say to him In the movie Wall Street is trying to say you know you you have enough You've enough It's funny because that's what we're going to be talking about on Wednesday Manisha Takor is here who's going to be talking exactly about that That's a good one John Goodman just always good is good. Yeah, wherever he is My number two I had to put one of my favorite Christmas movies in this list And and it actually was thinking about Ebenezer Scrooge And the Christmas Carol led me to this This is a movie that goes back to 1945 and Barbara Stanwick Classic actress who worked for a long time Barbara Stanwick has a great thing going she is in a magazine like a better housekeeping kind of magazine And she is this woman who's a phenomenal chef and she talks about being in Connecticut with her farm And now she has this lovely countryside and she makes these beautiful dishes the problem is OG She's a fantastic writer And she lives in a little tiny apartment manhattan and she doesn't even know how to cook It's all a lie everything is a lie and this scene from early in the movie is uh, well, let's just listen in because She's about to talk to a guy named Doug who's in on the lie with her Oh, hello Felix hello good bad Mediklister. I don't mention it. Hello, Doug. Hello, Liz. We're in a jam. Something terrible is about to happen What's the matter? It's yummy. He wants to see you right away at his home on Long Island Really? Maybe he wants to give me a raise for Christmas. I've certainly helped circulation. No darling. It's not a raise You're a frazzled dad. Do you want a drink? No, no thanks Now it's really nothing to be nervous about nothing don't be silly. I'm not nervous. Have you fun? Well, you won't in a minute Now get this some full nurses are naval hospital wrote to Yardley asking to invite a wounded sailor out of your farm for Christmas My farm. Oh, yes, my farm Oh my farm and he wants to see you right away to arrange it Arrange it. Are you crazy? Where am I going to get a farm? I haven't even got a window box That's just it. We'll have to stall him off. You know what a stickery is for the truth If he ever finds out we've been making all this up he'll fire the both of us Well It's been nice knowing you And so Barbara Stanwick I love that pause at the end because uh Barbara Stanwick decides. Oh jeez. She's got to get a farm They got to go to Connecticut They got to make sure that this lie that they've been living that it continues And how many things I mean you look at the wolf a wall street right a lie that starts off as little And it just gets bigger and bigger and bigger We had Mori Tahara pour on a few years ago talking about negotiating and she talked about the best way to negotiate is doing it from a position of strength Which is You and exactly who you are and what you're actually bringing to the table not puffing out your chest or being this Thing that you're not it's being exactly who you are and it was reading Bob Eiger's book Which I thought was a fantastic book about um he talked about how he negotiated with everybody from Steve jobs So when he was buying Marvel His negotiation always was here's exactly what I'm looking for. This is exactly what uh what what I bring to the table This is how I think it will fit. He's like I wasn't into all of this you know hold things back hard thing It's great plus I love the line that I've heard attributed to both Abraham Lincoln and to Mark Twain I don't lie because I don't have a good enough memory the lies always catch up to you And of course in this movie as you can guess the lie catches up with Barbara Stanwick and Doug I love the way they speak in those old movies now see here see It's so good if you're up for a black and white Christmas movie. It is my favorite Christmas movie We're up to number one aren't we number one number one and you know what The point of this movie is going to be a little repetitive But whenever I think about money. Oh gee. I think about the point of money and uh this is a movie about a guy Well, this is a scene from the end of the movie once again an older movie so at the risk of giving it away I think I'm just going to play the clip Morning gentlemen Good morning, mr. Fredrickson. You're ready to go Ready as I'll ever be would you do me a favor and take this Mommy kid the van in just a minute. I uh want to say one last goodbye to the old place Sure, take all the time you need sir That's typical. He's probably going to the bathroom for the 80th time You think he'd take better care of his house Oh You That's Carl Fredericks and of course that sound of stuff ripping was this huge bag which was all these inflatable balloons and there goes his house from the movie up and I think my this is number one on my list because you know the the first what five minutes of this movie one of the best five minutes of any movie and the lesson in this movie OG that we're here talking about money what we're really talking about isn't just securing the past it's really securing the future and Carl has spent the entire movie living in the past until he gets this big lesson at the end that that all of this stuff that he's done and all the stuff that's happened to him really is just to help him continue living so my number one is Pixar's up you busy living get busy dying amen brother that could have been one of the lessons and sadly he was busy dying from you know I mean we open the movie where he's busy dying so what's your number one here we go it's from one of my mentors Bobby Axelrod thanks get tired of working for living every damn day but I've got a nasty addiction called money so I do what I do you no remember until today you know they call us traders gamblers the world economy is just one big casino fueled by a giant debt bubble and computer-driven derivatives there's only one thing better than being a gambler and a casino that's being the house that is right there's a systemized machine out there sucking capital from localities and injecting it into the global markets where it can be used to speculate and manipulate if something goes wrong they're bailouts and bailants federally hate and the easing where the government doesn't hunt you down but instead gives you a nice soft net to land it that's your answer to the fireside chat you want to become a bank I want to become a bank in order to rob it in order that I don't have to it's you cheated how did I cheat it's not a movie it's kind of a movie it's a TV show television program season seven billions just started by the way those who are interested when the first time that I heard that and Wags says you know you're tired of work and he goes every day but I've got this nasty addiction called money so I do what I do and I thought that was really cool really well written but then he's talking about like back to the kind of banking thing and for every side of a transaction that you're on there's somebody that's on the other side of the transaction and I think that it's really important to recognize and I don't I don't think about this from the standpoint of like be safe and secure and you know put your money in savings and all that sort of stuff kind of like what the gambler section was about I don't think that that's the right answer I mean the way that I think about it is you have an opportunity to take advantage of all of those things you don't need to have a safety net of the bank you don't need to have a safety net of bailouts you don't have to have a safety net of all these things that the banking world does because as long as you follow the same rules you're going to have a better outcome that people say that banks are great because they make little teeny tiny bits of money on every transaction right versus trying to make a whole bunch of money on one on one transaction and that's kind of true right so you can look at this and say well be the bank be the person who's the stable facility in the family like all of those sorts of metaphors are fine too but you can have the same results of making a little bit of money on each transaction if you do all of the things related to saving and saving and investing over long periods of time that's the value that the banking industry brings to the economy isn't necessarily that they provide and lend capital all that sort of tactical stuff it's the fact that it's they do the same stuff for generations and if you do the same stuff and your kids do the same stuff and your grand kids do the same stuff specifically around investing specifically around staying out of debt you turn into that you turn into that family bank so to speak because because you don't need 150 years to change the trajectory of your family tree you have to you need to be that person like if mom and dad didn't do it or grandma grandpa didn't do it all you have to do I mean this is such an eye opening thing I was reading an article that Paul Merriman wrote about his three factor portfolio and y'all can look up what that is but it's basically pretty simple portfolio anyways what he was talking about was in 1970 if you started this in 1970 left dividends to reinvest and touch it with a hundred thousand dollars fifty four years later 53 years later you'd have 20 million dollars I mean it's such an insane amount of money it's such it I mean it's so over the top more than all the stuff that you could possibly need obviously a hundred thousand dollars in 1970 dollars was a lot more than a hundred thousand dollars is today just like 20 million dollars today will be a lot less than 20 million adjusted 50 years from it but I look at that and I say well I'm not sure that I've got another 50 years in order to accumulate and then benefit from it right because I'd be 95 but my kids should do and their kids Lord willing definitely do and it's like it only takes a little bit a hundred grand or 50 thousand dollars or something that you just set aside and the whole trajectory of everybody around you changes forever it's funny people talk about building generational wealth and that is such a small dollar that's a big well I mean it's a big dollar amount but I get what you're saying in the in the comparative sense right I mean 50 grand hundred grand in the computer stroke and checking right I'm not going to need this money for the rest of my life sure if you can save 50 grand more a hundred grand more than you're saving and you know we look at how fast money compounds and I just think you know you put away a little extra and you know and that's been our recurring theme too right OG is that these people that say they're okay and bigger goals like there is a bigger outlook you could have it's pretty exciting the bank be the family bank be Bobby Axelrod that's great those are our top five Doug you've got a great one two here that didn't make our list but certainly made yours let's play let's play this clip from a movie I'm not sure which one you're going to play but if the one I think it is it's really just the opening line from the movie it's the very first dialogue spoken yeah we'll play that one listen here's the thing if you can't spot the sucker in your first half hour at the table and you are the sucker that's from the movie rounders yeah I love that I mean we I think as we aspire for more and more income we can find ourselves in situations that we're in over our head a little bit we're often going to perform better at achieving what we want when we're in our area of expertise so I think that little line about if you can't figure out who it is it's probably you I think that probably is applicable well I think it's funny to me that it signifies is you know how many times have you gone into situations that's unprepared you just walk into a situation of course like I go to a poker game once a month with friends of mine here in in Texarkana and I'm totally unprepared and I get my butt kicked but I'm okay because it's just poker but in real life stakes you've been in a meeting before and everybody knows who the moron is in the meeting except the moron that won't shut up right it's the one that won't shut up no you've said it much better than I did but that's exactly right I mean it's easy to watch these movies and think about it only in the context of poker but you've done I mean you've said it well Joe which is it applies everywhere if you're unprepared yeah just the idea of just showing up there's another great quote in this movie where Tertaro says guys around here are gonna tell you you play for a living it's like any other job you don't gamble you grind it out and I think that is analogous to a lot of things we espouse here on this show which is you know you're in it for the long game and if you can be patient and you know we talked about the rule of 72 all the time if you can be patient you will succeed just stick to your plan and you will succeed but if you go to try to get it all and bet it all in one pot you're gonna probably lose that hand there's a really good chance you're gonna lose that hand and be back where you started so I like that notion in rounders fantastic place I think for us to end and looking at the time we are not going to have time for our Haven lifeline today we'll get back to answering your questions next week however we do have time for our community calendar coming up next week I will be I'll be back on Instagram next Thursday with an Instagram life so if you want to hang out with us on Thursday next Wednesday we are live on fireside recording our roundtable so hang out with Doug OG Len Paula and me as we make the donuts you can hang out with us and maybe even be a part of the show that's on the fireside app so you'll want to download that app and be there if by the way you can't for some reason be on the fireside app we'll be simul casting it on our YouTube channel so that is Wednesday at 4 p.m. Eastern that's 1 p.m. Pacific next Wednesday August 30th so join me then if you want to go deeper on all these topics that we talked about today many topics in our top 10 head to stackabedgments.com slash 201 because the day after every show Kevin Bailey helps us dive into these topics in much much more depth than we have time to do in the podcast last thing here is that if you're not here to talk about your favorite movies or to talk about any of the various topics we had today you're here because you need a better team in your corner to make better financial decisions OG and his team are taking clients and as we round into September great time to be thinking about the future well heck yesterday was a better time than today to think about the future but I guess my point is a slipping away so I did stackabedgments.com slash OG that's linked to their calendar and to seeing how their team can interface with you to help you make better financial decisions all right that is it for today Doug man what should we have learned today well Joe first take some advice from our movie clips you can find inspiration to do better financially nearly everywhere but there's probably going to be a few f-bombs mixed in there I guess second learn from today's headline working from home create boundaries and time away remember it's a marathon not a sprint you know but on the other end work from home can also equal be unemployed from home if you don't create good systems to remain disciplined but the big lesson sometimes a spider bite can look a lot like a GDP you picked up from a toilet seat at a rest stop on i-75 either way get a doctor to take a look at it this show is the property of SB podcasts LLC copyright 2023 and is created by Joe Solci High our producer is Karen Repine this show is written by Lisa Curry who's also the host of the long story long podcast with help from me Joe and doc G from the earn an invest podcast Kevin Bailey helps us take a deeper dive into all the topics covered on each episode in our newsletter called the 201 you'll find the 4-1-1 on all things money at the 201 just visit stacking vengiments.com slash 201 wonder how beautiful we all are of course you'll never know if you don't check out our YouTube version of the show engineered by Tina Eichenberg then you'll see once and for all that I'm the best thing going for this podcast 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 what a chat with friends about the show later mom's friend Gertrude and Kate Youngkin are our social media coordinators and Gertrude is the room mother in our Facebook group called the basement say hello when you see us posting online to join all the basement fun with other stackers type stacking vengiments.com slash 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