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Available at www.Alex Partners.com slash box. That's www.alixpartners.com slash V-O-X. In the face of disruption, businesses trust Alex Partners to get straight to the point and deliver results when it really matters. Hey, everybody. It's Neelai. Dakota is on a short break this week. We'll be back with a special live interview episode on Monday next week. And then our regular programming will resume in December. I'm pretty excited for some of the episodes that we have on the schedule.
But while we're out, we wanted to highlight a great episode of a new podcast for our friends over at Vox called Explain It To Me. If you've not yet heard of Explain It To Me, it's Vox's new Explanatory Weekly Show, Video Series, and newsletter, replacing the policy-focused podcast The Weeds. Host John Cleenhill is still at the helm, but this time, fielding hotline questions on anything and everything from big philosophical quandaries to everyday dilemmas.
They have an actual funerary, you can call it and just ask them any question you want. Here in Dakota, we focus a lot on the decision-making process of high profile business and policy leaders, meaning we don't often spend as much time on these small, pervasive decisions. The ones we all have to make that can sometimes feel impossible to understand before you have to make them.
On this episode of Explain It To Me, John Cleen and her team tackle one that looms large for a lot of young people in America. How and when should you start saving for retirement? And we'll not even matter in a future of big, often scary uncertainties about work in the age of AI and the climate crisis.
If you're a millennial, staring down the barrel of our rickety social safety net or a Gen Z or that just entered the workforce, this might be one of the biggest decisions you make about the future. Okay, explain it to me and whether the world will end before we all retire. Here we go. The vibe is get rich you retire early with what money.
Hey, all this is John Cleen Hill and you're tuned in to explain it to me the hotline for all the questions you can't quite answer on your own. Today, we're tackling a call we got about retirement. I will be listening to a sprox in the retirement home. Nobody can stop me. This is Carolina. She lives in the Bay Area where she's working her first real job after college.
I have insurance and a car and car payments and it just feels it all feels very adult because I have like benefits, but also responsibility now. Oh my gosh, you are so grown. Like I do not have a car. You're I think you're officially more grown than I am. It's tough. I go learn how to parallel park. It was really good. Parallel parking is so hard. And like I hate when people are just standing there watching you and then someone's like, do you need help? It's like get away from me.
Yes, exactly, but also I could use the help a little bit. And even though she's nowhere near the age to do it, Carolina is already stressing about retirement retirement. I think it's strange because everyone tells you to start doing it right away. Start saving right away. And that's like a very future looking thing. And it feels just weird to do that when you know that the future is going to look very different.
Have you gotten advice from older people about retirement and you're just like, okay. My sister's married to an accountant and when I was 18, he was like, you need to max out your Ross IRA starting now. And I was like, what money? Am I just gonna put that money in the stock market? Like, I think they have to, you know, the stock market is always safe, but then it keeps crashing. So is it?
Okay, that's also the same advice I got about a decade ago. Start saving now. Contribute to your 401k. You know the drill. I think the vibe is like just put away like the money, the way that everybody tells you that you're supposed to do and hope that it works out and try not to think too hard about how it might not work out at all. And you might use all that money anyways. And then you could have spent it for fun when you were younger or for just like being able to afford like fetta cheese.
Okay, I'm going to use some restraint and not make a ton of fetta cheddar cheese money puns because I get the point that Carolina is making. It's understandable why you might be hesitant to put your trust in a financial system that had a scare as recently as the summer between you and me. I did check my 401k shortly after that dip and it was not cute. But financial collapse isn't Carolina's only concern.
It's like, okay, well, if I'm a change really through this over, I need a credible skill for the upcoming apocalypse. Yeah, like what are we going to do in the water wars exactly exactly that's like you're making a big assumption that like the financial market is still going to be there when you retire. And it could not be a lot is going to happen between now and like 27 feet and like your job might get replaced by chat to the B.P. Listen, you preach to the choir on that one.
So Carolina, what is it you'd like us to find out for you? Given that everything is changing like, is there any secure way for me to like start doing that like I haven't really be worried about it right now. And like, am I going to get to her entire? Because it's not looking so hot and also the planet is looking pretty hot and that's stressful.
Okay, everyone. So that's our mission for today. We'll find out if Ginzy should say for retirement or if the future is doomed and they should just be buying all that cheese instead. Is it safe to say that you write about doom a lot? Yes, I'm a chronicler of doom for sure. That's Brian Walsh. He's an editor here at Vox. Whenever you read anything about the future or the climate or international news, he's likely had a hand in it.
And before I was a Vox, among other things, I wrote a 2019 book called End Times, a brief guide to the end of the world, which is basically what that subhead suggests. I wanted to bring Carolinas question to Brian because he's kind of the resident doom expert around our newsroom. His book is organized by the different existential threats we could face. You know, definitely not more of it at all. I should have created like an acronym for all these so I can remember them.
As I recall, it's asteroids, super volcanoes, pandemics, nuclear war, biologically engineered biotech stuff. Of course, artificial intelligence, also climate change, and I threw in aliens at the end because it was fun and be kind of helped me understand like even stuff that's far out there how you begin to think about that. Okay, so Carolinas Ginzy and she's wondering how she should think about retirement.
And like, yeah, there's this aspect of what to do about your 401k and your investments and how much to save. But she's also sort of getting at this question of what's the point of it all? Like, will any of this exist by the time she's in her 60s? Is she forgoing these fancy groceries and trips for no reason? Like, should she be enjoying the expensive fetishies she wants now rather than saving for this 60-something version of herself? Well, that's a great question.
I want to just preface it by saying that I am not a financial professional and so you should not take any financial advice I might offer. But I understand that and it's interesting like absolutely like I understand the particularly acute like existential fears. You were especially seeing from Ginzy right now. I mean, they've had a frankly a tough go of it, given the things that have happened in their lifetime just so far. We human beings, we have a really hard time really imagining the future.
Like, we kind of know there's going to be a future me but like, what do I owe that person? Are they really in mean the same way? Like, should I be sacrificing for them? Like, these are questions that are both like on the personal level. It's also kind of on the global level. She's particularly concerned about climate change, that's top of mind for her. Of all of the doomed scenarios, does that one seem the most likely?
Because I feel like that's the one, like even in our newsroom, like that's the one we talk about the most, you know? Yeah. Climate change is a tricky one because I think, you know, A, it's not a binary thing like let's say nuclear war. Like a nuclear war either happens or it doesn't. Climate change in the other hand, what will happen with it is like a whole continuum from like, bad to better to worse to like, okay, actually maybe the end of the world as we know it.
And so I think that's hard to sort of understand that. I mean, I say like, I'm more worried about nuclear war just because it could happen so fast. You know, whereas climate change, it's both a benefit that unfolds over like decades and decades. It also makes it hard to deal with or stop in the same way.
Like on the whole, like I look at the scenarios and the research that I see and the good thing is that what most of us are judging is that the chance that like the worst case scenario seems to be less than it was 10 years ago, 15 years ago. And some of that is due to the fact that like we're making amazing progress around renewable energy and solar power and things like that. We are actually making sort of technological innovations. Like we have slowed down carbon emissions.
We might even see carbon emissions peak fairly soon globally, which would be amazing. Okay, so what is the climate change scenario where saving for retirement doesn't make sense? Like are we like sometimes when I think of this, I think of Mad Max. Like, okay, I'm going to have to fight in the first water war and my, you know, grandchildren will fight in the second great water war. Like what does that worst case scenario look like?
If I think about like how climate change could lead to the end of the world, I think the way what happened is less directly than it creates so much chaos internationally. And within a country like the United States itself, that you would then see really major conflict, really major wars, maybe up and two leading to a nuclear war. That would be the thing that ends it. But like maybe it would look like Mad Max. I don't know.
People think we'll be all wearing like SNM bondage gear and being on motorcycles and what have you. But that said, like I still feel confident personally. And I think most experts that I speak to that will make it through definitely wouldn't like just right off the future because of climate change at this point. As much as I know, that's a hard thing to really like wrap your head around. Okay, so we've gotten to this climate change aspect.
But one thing that Carolina also brought up is financial crises. Like could there be a financial collapse of some sort that would make planning for the future worthless? Like what's the what's the deal there? You know when people worry about like a big crash, like I think it's almost like the analogy I like to use is imagine like a forest. Okay, like forest is used to have fires more often smaller ones. We kind of burn out the dead wood and reduce the risk of a really, really big fire.
And I think I could understand like what we worry about now with the global economy is like it's almost like we have this big forest that is totally unmanaged. And like one bad spark could just lead to a total inferno. Now that is like not real great economic analogy making possibly. But yeah, I think that's that is a concern. Like again, that goes back to that idea that we live in like a more fragile social and political system than I think we often appreciate. How certain is any of this?
You know, I think that's kind of the crux of the question. How do you know what existence to plan for? It's an incredibly hard question at the end of the day. There's now a whole academic field of study around these things, existential risks. And if you go that like people will talk about their probabilities of various end of the world things happening. They call it like P doom actually your probability of doom. And that's just like the concerns about the end of the world.
Like when I think about things such as the way AI or gene editing is like gene editing is going to change the future. I mean, it's my job literally to try to imagine that and I do the best I can. But I suspect it's going to turn out differently than I think. Now, should you be learning to code some AI or should you be learning how to fight road war in the outback? I don't really know which scenario is more likely. You know, I think that is just the uncertainty we have to live with.
And I think that's a tough thing for human beings to come to grips with. Do you have a P doom? Do I have a P doom like across the board? Yeah. That's interesting. I guess I would say like do I think the world as we know it will end by the end of 2100? So like, I would guess I would say 20% which feels, you know, is that optimistic or pessimistic? Like I'm not really sure to be honest. How is covering this beat impact your own outlook on life? You know, I like I'm a person. I tend to spiral.
So I don't know if I would do well, constantly thinking about mass extinction. But I wonder, you know, how you handle that and manage that and what it does for you. Well, it's funny. I mean, like I can say like how I think day to day and I do get worried and there are times when I get really worried. And that can, yeah, I can spiral when that happens. But when you look at like how I'm living my life, for instance, like I am saving retirement for retirement.
I mean, among other things like wouldn't really do that if I thought there was going to be no future. I have a child, my wife and I do like that's another sort of vote in the favor of a confidence that there will be a future. And to sum it up, should Carolina save for retirement given all the risks and uncertainty about the future? Like what's your advice? What do you think? Yes, I think she absolutely should save for the future.
Even if you take that 20% chance, like that leaves an 80% chance that you will be around in the future. And I think your future self will be very grateful to you for doing this. Like if you want to sort of pick your percentage in the 401k based on, you know, how you say the world will end. I'm sure there's some formula that can do that. But yeah, no, I think I think you should act as if that will be the case and that includes doing things like setting aside a little money for your golden years.
Okay. If you think of it that way, if you think like this, not some other person that I'm doing the saving for this preparation for, it is me just down the line and I care about that person to a certain extent. I mean, maybe not enough to like forgo all the good cheese like some of it. I think that's that helps make it worthwhile to me. Okay. So now we know we won't likely be in a mad max situation, at least anytime soon. And that Carolina should probably set money aside for retirement.
Up next, how to save for tomorrow and still have a little treat today. Support for the show comes from Polestar. Innovation is at the heart of every Polestar car and their SUV, Polestar 3 is no different. From the intuitive infotainment system to its head turning design, Polestar 3 is for drivers unwilling to compromise. That means merging a spacious comfortable interior with the torque and handling of a sports car.
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This is explain it to me. Before the break, Brian told us, Yeah, it may seem like the world is ending, but you should still set your coins aside. That brings us to the second part of Carolinas question. The how to. Budgeting is hard, especially when it basically costs $40 just to step outside. And Carolina is adjusting to paying bills when things are more expensive than ever. How do you say for retirement when housing costs more than it ever has? Inter Vivian 2. AKA your rich BFF.
If you're only in your 30s and 40s, but already think it's too late to be rich, you're wrong. I'm Vivian, your rich BFF, and your favorite Wall Street girly, and I'm teaching you all the finance you didn't learn in school. Vivian is a finance influencer and host of the podcast Network in Chill, which is now on the Vox Media Podcast Network. She's also author of the book Rich A.F. The winning money mindset that will change your life.
Right out of college, she worked as a day trader on Wall Street. Her mentor helped her out. Todd her how to contribute to her 401k, which smart moves to make financially, and treated her to lunch on a regular basis. Since then, Vivian's done well for herself. Like, really well. Forbes named her as a top creator back in 2023, and at the time, she was worth a little over $3 million. Like I said, she's doing just fine. And look, I get it.
Sometimes it can be really hard to take money advice from people who got it like that. But it wasn't always that way for her. I would say my relationship with money very much stemmed from a scarcity mindset. I'm very lucky. I am the only daughter to two amazing Chinese immigrant parents. And my parents were very, very focused on the American dream and upward social and economic mobility. And as such, it was always about scrimping and saving in my house.
There were no conversations around growing your wealth, getting rich. That was for other people. When Vivian started her career on Wall Street after college, sure. She wanted to make money. But she also wanted the freedom that she saw people with money having. It wasn't as simple as a good job, though. Even with a good entry-level salary working in the financial industry, it took her while to figure out how to manage her money.
People are always shocked when I tell them when I first moved to New York, I was living paycheck to paycheck. That doesn't surprise me at all. At all. Because like, I don't know. I remember like when I first started working, and I was like, I just need more money like working this entry-level media job. That and that. And my mom was like, if you don't have a budget, it doesn't matter how much you're making. Correct.
Being able to budget my money and get out of that paycheck to paycheck cycle by making sure I was asking for raises every year, you know, making sure that I picked up a side hustle. I was flipping sneakers at the time. Are you a sneakerhead? Oh, yeah. Wow. I did not know you were a sneakerhead. Oh, yeah. You were a hustlin. Okay. I want to move on to Carolinas' question. So she has this question about retirement. It's kind of a two-parter question. I'll start with our first part.
First, she's worried about whether there might even be a stable financial market when she is ready to retire. Is that something you think about? Like, should we be worried about the basic stability of our financial system? This girl said, not only is there an asteroid coming, but there will be a full economic climb. I mean, 2008 was a wild time. I think people are shook. Listen, no, I really do. I do. I feel for her and I also feel for, I would say her generation, our generation.
And even the generation slightly above ours, because we lived through so many unprecedented crises. I'm ready for the times to get precedented again. Yes. Absolutely. I need to see some of the before times. And I don't have a crystal ball. What I will tell you though, is that if we do have an apocalypse, the folks who do have money are going to be better off. We're in an age where it's like we can research so much and find so many things. And it feels like there are so many sure things.
But this like retirement and the state of the world feels so uncertain. And I'm just wondering like, how do you adjust your mindset to that? You need to enjoy today while also preparing for the future. I think there's two sides of the spectrum, right? Like you've got the folks who are like, nope, I'm going to blow all my cash today. I'm going to go on a shopping spree because who knows if I get to retire in however many years.
There's folks on the opposite side of the spectrum that are like, I'm a doomsday prep or basically. And like I need to only think about retirement. I need to protect myself in the future. I will, scrimp and save today. I will have the worst life today so I can have a better future. For these folks, I'm like, what if you never get there? Yeah. Like God forbid you get hit by a truck tomorrow. What was all that for?
So I ask folks to kind of find the middle of that barbell and say, you are allowed to enjoy your life today. I promise you, you were not put on this big green earth to work a nine to five to hate your life. That is not your ultimate purpose. You are allowed to have the little treat. You are allowed to take that trip. You are allowed to go and grab a manicure with a friend because it is fun. You are allowed to have fun.
You do not want to have so much fun today at the expense of future you because of that uncertainty factor. You want to be able to have fun today and tomorrow. I think that existential part is so important. But I think also the second part of the question is, you know, practically what tips do you have for young people who are thinking about retirement? Like, how should they be thinking of it and what should they be doing? I always tell everyone there is a special Yorich BFF method.
If you want to be rich AF, you need to strip. And everyone's like, oh, did I pick the wrong career? No, strip is an acronym. S stands for savings. First and foremost, you want to set aside an emergency fund. In particular, I recommend putting your emergency fund into a high yield savings account so that your money waiting for that rainy day gets to earn you more interest in the meantime. If you are a single tin, three to six months of living expenses is a good bet.
If you are ahead of household, you have dependents. I would say closer to six to 12. This is something you can easily do by literally just changing where your direct deposit goes. T is total debt. A lot of us have debt. And that is not a bad word. It is just a tool. So with our debt, what I say is, rank it from highest to lowest interest rate. Make the minimum payment across everything to keep your credit score high.
But then any additional funds you have for debt pay down goes towards the interest rate. That is the highest. Up next are retirement. So take advantage of tax-advanced accounts like a 401k through your job, 403b, 457, TSP, whatever type of job you have. You can also open up an IRA or Roth IRA. IRA literally stands for individual retirement account. And then I, this is important. It's not enough to just open those accounts. You actually have to invest.
So you take the cash that you're putting into those accounts and you are making investments that make sense based on your risk profile, target date retirement funds, index funds, often make sense. And last step, this is so critically important. P. Plan. You don't get to have happily ever after. You don't get to ride off into the sunset. If you do not have a plan. So write down what your goals are, what those milestones are, what you'd like to accomplish.
The amount of money it's going to take to get you there. And then back into what you need to do to get there. How do you protect yourself and those investments from another financial crisis? Like, you know, I sometimes think like, wow, I'm putting a lot of faith into the stock market. I think it's really important that your portfolio make sense for how far you are away from retirement. So when you're 20, yeah, you can be a hundred or 90% in the stock market and have zero or 10% in bonds.
When you're 50, it should look almost flipped. But it really depends on how much you're making, how much you already have, any other investments you might be having, any sort of generational windfalls you might be expected to come into. What about people who are just getting by? Like, how should they prioritize retirement savings if you know you're not dealing with a lot? You know, if they are just getting by, I think first and foremost, we want to try and maximize that income.
So it's really important to be asking for that raise every single year. People always bulk when I say this, you need to be asking for a raise somewhere between 10 to 15% every single year. Ooh, I'm not saying you're getting it. But if you ask for 10 to 15 and you get eight, that's good. Because eight is still going to help keep you above the inflation rate. I think another question that I have is that retirement and saving in general is often presented as this sacrifice.
Like, you know, you're going without your fancy groceries now so that like future you can like go on cruises and golf and do, you know, whatever it is that people do when they're retired. JQ's moving to Naples and her. Listen, I always say like we're going to turn the retirement home into like a dorm room again. Like they're going to play back that ass up in the community room. There's beer pong in the, oh yeah, I'm going to be drinking like lemon drops on the back of a golf cart.
Like we're going to be getting wild at the retirement. But like how do you do that balance? You know, how do you have the little treat? Carolyn, she likes fancy fetiches and she's like, should I not be buying this fancy fetiches because I should be saving? Like how do you prioritize those things? I think it's about providing yourself a life that you are happy with today while also thinking about, hey, it's not like you saving for retirement means as money goes in a black hole.
You still get to spend it just later. And in fact, what people need to remember is that like you're not just setting this money aside and then getting that same number back in retirement. But when you start investing your money in particular for retirement, when it's got a little bit of room and time to grow, that money gets to work really hard for you. And so you might only put in $100,000. That $100,000 could be a couple million dollars in retirement.
Carolina thinks that vice she's been getting from boomers doesn't always make sense for her. Yeah, duh. Yeah, like how is financial planning like for Gen Z in particular different from like the advice like for previous generations? Like what are they dealing with and what do they have to kind of navigate differently? So back in the day, buying a home was what 50 grand not to mention the fact that wages have absolutely stagnated while all of these other costs of living have gone up.
So what that essentially means is that while we're taking home roughly the same amount, the amount that's going out the door has crept up and crept up and crept up. And what that really does is it squeezes the middle class back in our parents and grandparents generation. They were incentivized to stay at companies for as long as humanly possible because they had something called pensions and essentially a pension is a 401k if a 401k was better in every single way.
When you would work at a company, they would set aside their money for you for retirement and you would be guaranteed a certain payout every single month in your retirement. The longer you stayed at a company, the more they owed you every single month after you retired.
So people were working at companies 20, 30, 40 years, not for fat salaries, not for fat bonuses, but for fat pension checks because they knew the longer they stayed, the better retirement they would have and they were guaranteed it. Pensions all but disappeared after the 401k was rolled out. And now we need to set money aside. We need to plan. We need to invest. And how are we going to be able to do that most effectively?
We need to make more money. And the easiest way to make more money is to be treating the job market like it's tender. You got to be swiping. You got to be swiping. You got to be moving to the next thing. There's always somebody hotter and cooler and better. It sucks to say that but like that is what the job market has become for millennials and Gen Z because the only way we are able to be paid are worth is to job jump.
And if you are not learning and earning, if you are not getting promoted in a huge raise every two years, you need to go. You need to find somewhere that is going to give you what you need. I don't know about you, but I do consider myself like, you know, I was forged in the air of the robots. I remember graduating from college and I earnestly read Lean In. I was like, we're going to get in there.
Let me roll up my sleeves. And I think the pandemic did a lot for this because during the pandemic, I was like, oh, what makes me happy? Like what parts of life really satisfy me other than work? And how do I prioritize that? What did Ali Wong say? She's like, I don't want to lean in. Okay, I want to lie down.
Yeah, like hello, like I I'm so tired of girlbossing, but there's a part of me that can't turn it off. And I do wonder like, do you ever find a disconnect between millennials and Gen Z when it comes to advice because of that because like, can I say something that will probably just like get me canceled. Yes, always. I wasn't mad when Kim Kay said it seems like nobody wants to work these days. You have to surround yourself with people that want to work.
I think the way she went about it is a little out of touch because we don't have the same 24 hours in a day and she certainly has a lot of help. But I will also say that like, there's a different attitude towards work between Gen Z and millennials. I think millennials like yourself and myself are we tie a lot of ourself worth to work.
Yeah, there is part of me that is fueled by the next task that is fueled by the next milestone, the next achievement, whereas Gen Z, I think they're adopting a much more alternative lifestyle in part because it's like fun and cool, but also in part because they don't see a realistic route for them to get to the two and a half kids goal in a tree or tire swing white pick offense house.
And because of that, their perception of work as well as like what is like the new normal is very different. Yeah. Up next, we take our findings to Carolina and find out if it changes anything about how she thinks about her future. Support for decoder comes from Grammarly. Look, we've all been in a meeting and wondered, couldn't this have been an email? Well, next time it is an email, Grammarly can help you out with writing more clear and efficient communications.
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That's about as complex as it gets, but under the hood of that process, there are a lot of really complicated things happening that have to go right in order for that sale to go through. Stripe handles the complexity of financial infrastructure, offering a seamless experience for business owners and their customers. For example, Stripe can make sure that your customers see their currency and prefer payment method when they shop, so checking out never feels like a chore.
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For the longest time, we'd have these images of somebody sitting crouched over their computer with a hoodie on just kind of typing away in the middle of the night, and honestly, that's not what it is anymore. That's Ian Mitchell, a banker turned fraud-fighter. These days, online scams look more like crime syndicates than individual con artists, and they're making bank. Last year, scammers made off with more than $10 billion.
It's mind-blowing to see the kind of infrastructure that's been built to facilitate scamming at scale. There are hundreds, if not thousands, of scam centers all around the world. These are very savvy business people. These are organized criminal rings. And so once we understand the magnitude of this problem, we can protect people better. One challenge that fraud-fighters like Ian face is that scam victims sometimes feel too ashamed to discuss what happened to them.
But Ian says, one of our best defenses is simple. We need to talk to each other. We need to have those awkward conversations around what do you do if you have text messages you don't recognize. What do you do if you start getting asked to send information that's more sensitive? Even my own father fell victim to a, thank goodness, a smaller dollar scam, but he fell victim and we have these conversations all the time. So we are all at risk, and we all need to work together to protect each other.
Learn more about how to protect yourself at Vox.com slash Zell. And when using digital payment platforms, remember to only send money to people you know and trust. After talking to Brian and Vivian, I called up Carolina with some findings. I wanted to give her some answers and also find out what she thinks about their takes on things. Hey, Carolina, how are you? Good, I'm good. So, okay, between now and the last time we talked, have you made any major financial decisions or anything?
I'm planning a trip to Peru that's a pretty major financial choice, but nothing in the realm of responsible choices. Ooh, that sounds fun. And I will say, I told Carolina all about Vivian's retirement tips, 401k through your job, 401k, and about Brian's take on the end of the world. Do I think the world, as we know it, will end by the end of 2100? I want to say 20%. I was curious to know what she thought about it all. How do I feel about the potential end of the world?
I feel better knowing that the chances are only 20%. It's not the right odds, but it's definitely lower than I thought it would be. I was pretty sure climate change was going to push that well into the above 50%. What I take on medication, if I had 20% odds of killing me, no, but this was something that was out of my control, and I thought the odds were going to be 60%. So, suddenly, that's a threefold reduction.
I think it makes me a little bit less anxious about the greater than $1,000. I'm about to spend to go to Machu Picchu. You deserve to go to Machu Picchu. Yeah. So, 20% of any of the bad things happening. Okay. So, I'll put 80% of the money I'm supposed to be putting into retirement. That is not a terrible plan. I definitely need to open a high yield. I think after that, I'll probably open a Roth IRA.
I guess I could pay off my car, but I'm 22, so my credit score really needs those monthly payments. More than it is. It's like hard if you pay that off. I really appreciate you guys making sense of my nonsense. Future-dumarism anxiety and turning it into not one but two co-theorant answers. Oh, girl, listen, there's a reason why one of my colleagues' beats is literally due. Yeah. I'm sure he, I don't know, meditates a lot or something.
Did you ask him if he has, like, an underground bunker or something? That I did not ask and I will have to inquire. I will have to inquire if he is, like, low-key prepping and that's why he feels chill about everything. Maybe he's just so relieved because he already has 10 to 15 years of cancer during his house. Do you ever think, like, you'll ever feel comfortable with not the sure thing? Like, I don't know, I feel like so much of life is uncertain and it's hard to know for sure.
And I think especially with people, I don't know, just being science-minded and a little cool, is the not knowing for certain, is that ever difficult? I think I would be more stressed about it if I had dependent of any sort. But I don't feel anything, I gotta take care of myself. I don't know, I don't know, maybe I keep thinking about getting a cat. Maybe if I got the cat, I would be more stressed. I think you should definitely get the cat. That's what I've been thinking too.
Get the cat, go on the Peru trip, and you know, also squirrel away some coins for 70-year-old Carolina. Yeah, I'm sure she will also want fetishies and cups. That's it for this episode of Explain It To Me. Thanks to Carolina for the question and Vivian too and Brian Walfe for the answer. Vivian's podcast, Net Worth and Chill, is now part of the Vox Media Podcast Network and just launch its new season.
Also, I asked Brian to see if he had a bunker like Carolina hypothesized, and it turns out he does not. If you have a question, send it in. You can email us at askvoxadvox.com or give us a call at 1-800-618-8545. You can find that email address and phone number in our show notes. This episode was produced by Sophie LaLonde. It was edited by Catherine Wells with help from Jorge Just.
Fact checking by Melissa Hirsch, mixing by Andrea Kristen's daughter, Carla Javier is our supervising producer, and I'm your host, John Guilin Hill. Before you go, we have one more ask. We obviously couldn't make the show without you. And that's true in more ways than one. It takes a lot of work to make just one episode of explain it to me. Interviews, scripting, editing, fact checking, sound design, and so much more. And we're able to do that because of support from Vox members.
As a Vox member, you'll gain greater access to Vox's award-winning newsroom and have your curiosity sparked through our new member-only benefits. Please consider becoming a member today. Go to Vox.com slash members to join. Thanks for listening. Hey, Sophie and Andy, I think Carolina made a good point about all the talk of doom being really stressful. Can we add a little zin moment at the end? Maybe like a little meditation music. A babbling brook. Some birds. Yeah, that's nice.
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