#1 - Leave Your Quarter In The Cart

hey, what's up? This is Bobby Hoyt from Millennial Money Man. I am doing a podcast for the first time for this brand, and it's been something that I've wanted to do for a long time. However, it's not, I never wanna do a super boring kind of interview podcast. That's why I've avoided doing it. And I've told the audience that I was gonna do it many, many times over the years, and I had never did it. So. Here we are.

Thanks, dad.

Yeah, because, you know, I just kind of feel, feel like if they're employees and you say, do this, like sometimes they can't say no. So they're here, they're gonna do the podcast with me. I've got Ariel, I've got michael, and basically a lot of stuff has changed with the brand over the last several years. If you have been following for many years. It was just me kind of writing stuff randomly about personal finance. Over the years I've really felt like.

It's exactly why we started this podcast. Yes.

So we're gonna be talking about questionable financial decisions and that's it. Michael, how did. . Michael Shuman: Great. Thank you. okay, so here's what we're starting with, right? This is kind of like a very important topic, right? In this country, the power ball, which I honestly, I didn't, I don't know if anybody else did the power ball. Like I don't know if you guys get tickets for that or not. Uh, I did not do it, and I've probably done it maybe once or twice in my life.

It was like less than half, maybe 600 million or something. , Bobby Hoyt: yeah, so some kind of CNBC says 934.8. It's 900. It's a ton of money. But he thinks that you should just offset inflation and put it into a low cost s and p 500 index fund and let it grow long term. He basically likes index funds. Here's what Kevin O'Leary, who I like more if I'm gonna be totally honest here. He says, take the lump sum, do not spend it. Pay yourself an annuity and put the excess cash flow to work for you.

wanna go back to your point about why you shouldn't play the power ball, because I just looked it up and you have a higher chance of dying from lightning strike than winning Powerball I mean, I

Don't if totally off on that. You should play it every once in a while. I think when it gets to like 1.9 billion, like just, it's for,

for fun. Here's, you know, I've always thought this . They say you should play when it's high as though winning 50 million would be less impactful or exciting and there's less people playing. At that point, I feel like you're gonna play the power ball. You play it when it's love. No, no, no, no,

no that's not as much fun. That's boring. Like you wanna be part of it. You wanna be part of it. And do we, do we need to say that this is not financial? Is anybody gonna say that before we actually get into the podcast? This is not financial advice. Yeah. Like Michael just gave some non-financial, financial advice. Nothing that we say here. Please don't do anything that we say at all

ever. Unless it's play the power ball when it's low versus when

it's high. You have to play it when it's high. And I think that it's not even a question. And I think, I think what you said Michael is like extremely reserved. I thought you were gonna say something wild that was, uh, that was way different than what I was. I'm getting body guards. That's the first thing I'm doing. Body

guards. Do you have like people in your life that you feel who would be a threat to you?

I don't, but I would find 'em really quickly if I, if I won 600, 700 million. Like

they come out in your high school yearbook, you'll, you'll see all the people who are gonna be coming

out. I think I've thought about this. I think what you do, you get, you get some kind of, you get security, maybe two of 'em. One during the day and one at night, or one that lives with you. Not really sure. I think you, you gotta. Like you gotta move quickly. You gotta set up an ce, you gotta buy the house and the lc. You gotta get something with security cameras. Like my paranoia would go off the charts. Are you like

keeping this in cash, like with you at all times? Why do you need the security? But no, it's just because hostage or Yeah, they might ask for,

yeah, this is real, real stuff. So I think you gotta go kind of into hiding for a little bit. I think you gotta do some stuff like that.

Here's the other thing, you don't have to, you don't have to reveal yourself. You can win the power ball and no one knows who you are.

It depends on what state you're in. I think. I don't quote me on that, but I think depending on the state, they disclose it or they don't disclose it. I don't know. Somebody can fact check me on that, but I read that in something the other day.

Well, let's assume that you're in a state where you don't have to be nalton, are you? Who are you telling. How close are you keeping it?

I'm not even telling my wife. I'm not telling anybody. We're just moving. There's gonna be security that comes in and that's it. Like it's just people are gonna, things are guys gonna change and I'll tell her when the time feels right for her On safety, I feel like

I'm an overshare, like accidental overshare that I would just be like picking a kid up from school and accidentally say like, I won the 2 million Jack. You would like, like how's your week going? And then that would come

out. So you would not last long. You'd be, you'd be shopping at al. Yes, I would talking to the, uh, less fortunate you. Yeah.

You wouldn't make it long.

I would be passing my cart along though, you know, without asking for their 25 cents

at that point. Oh, that's nice. Yeah. That's how you would, that's how you'd spread some good in the world. You'd leave your quarter in the cart. Mm-hmm. . Yeah,

everybody always says like, get a, get an attorney. Which I, I, I agree with that part. Get an attorney. I think you, if you don't have, this is not legal.

Get an

accountant. Yeah. Nothing here is what you would don't, yeah. Don't go do this, but you could go do this. Um,

it's some legal advice to hire an attorney. Like, can we at least, yeah. I think we could say

yes. People say get a financial advisor. I don't agree with that. I think you don't do that right away. Because I think that there's a lot of financial advisors that like if you don't, if you are in a position where you have that much money and you don't know what to do with it at all, like giving it to somebody that you don't know very well is not a good idea. So I think you keep it in cash for a while. Like I think you just lay low.

Yeah. So if we're talking about buying mini horses and mansions and bodyguards, what else would you do with your money? Like, what else would you guys do with, you know, 600 million?

I see. I'm like, , I might not even invest it. Right? Like, it's so much money. Like, unless you just start spending wild amounts of money, like you don't, even, even if inflation eats way at it, like you're not gonna run outta money if you just don't become. If you're not like Mike Tyson and you just start buying like every exotic animal, and I, I think that I would definitely buy a mansion for sure. Mm-hmm. , but, and I would buy, I would buy, at least I would buy two or three.

why, that's, again, I've never been in the position. Money makes people do crazy things, but to me it seems like if you just literally got the money, you took $600 million, you stuck it into money market account, you put it at Schwab, and you, you don't do anything. You don't invest it. You don't have to decide any of that over one. , it'll make you 10 million. Like you can just relax. Mm-hmm.

would go to your house, . Michael Shuman: We didn't both win 600 million I think. I think I'm gonna have a nicer house than you at that point. Yeah, that's probably true. All right. Yeah, I don't know. I mean, I, I just, I wouldn't spend a, I mean, I don't know. I would spend a lot, but I wouldn't invest a lot. I would maybe do some angel investing maybe. Yeah. I just, but I do think you're right Michael.

back to the, going back to like the initial prompt in terms of which is better, you know, who has got better advice there? So your advice is screw investing all together. Or, you know, don't make that your priority.

Well make it your, it's, it's play money at the time. You have a, you have a sandbox to play in. I, that's what I've always thought is, you know, your money will make money for yourself if it literally sits well in a money market account, you know, at a 1.7% annual return, but even in the s and p 500, like that's a safe bet. You know, there's not many things that beat that over time. That is where , I'd likely want to put the, the bulk of just letting it sit there, make a little bit of money.

well, they invested their money in something. It was just not the right investment really.

But even, even if you did that, so this says 930. Million dollars. Like you could go crazy for a long time and still not run outta money. Like you just have to do somebody. I think where a lot of people, they get screwed by somebody they trust that's like, oh, let me invest this money for you and some cool business opportunity, and then they just steal it. Like that happens to athletes all the time. I think it's where you get screwed, but I think the most important thing is to, to not die.

Will you like figure out a way to cryogenically freeze yourself or

No? I just mean, I mean immediately not die. Like you gotta protect yourself. a lot, very paranoid about this.

600 million is 1 million a month for 50 years. Yeah.

So even if you just invested like a small portion of that, like, I don't know. I, you know what? Joe Rogan I think is a good example of. What I think people turn into when they have a lot, not because he wasn't a, like a, an Elon Musk business type of person, cuz I think Elon would take it and like just go start some other massive company or something, or buy something. But like Joe Rogan was a comedian, relatively like normal person. Then he got a hundred million from Spotify.

I'm invest. And also he builds like the coolest studio that he loves to go to with cool , you know? Yeah, yeah, yeah. Billing it and. Interviews people for three hours a day. Like it's just all aligned with stuff that he likes to do.

have you said what you would do? Did we ask you yet? Cause I feel like you're one of those people that just give it all away or so.

I would not give it all away. I would have a lot of fun with it. I would probably, uh, buy some cool old cars.

What kinda old cars though? Like,

um, a 69 Fastback Mustang.

Okay. I didn't see this

coming. Alright. Yeah, I would have an old Porsche call Larry and figure out, you know, what to get.

Larry's like, he's our tech. If anybody is wondering who's randomly putting the same people's names, there'd be some other ones. Probably like a, just, you know, like whatever mood you're in, you would have a car to drive to Aldi or see, you know, the bank to withdraw more money. Uh, yeah, yarn, um, lots of travel.

I think what's the most, and I think we've talked about this offline before, but what's the most expensive yarn out there?

Uh, the most expensive yarn out there, uh, qui. I think

And is it just like some, some animal spins it in their, in their little nest or something?

No, quibi is from a bison, I believe. I'm looking this up right now. I feel

bad that I can, you just bought, remember what if you bought farmland with those bison on it and you had an unlimited supply of it and you buy, I think

Ted Turner owns a lot of the land where ICE are right now. Yeah. Mm-hmm. , I mean, I don't really like qubit, so I probably wouldn't buy. , you know, bison farm, but small pack of some sheep, it'd be good.

Okay, so this is like super eclectic. You're just like Joe Rogan, by the way. He, he bought a lot of cars, so I don't know if you identified Oh, I said that about Ariel. Yeah. You're just like him. And he was like, I have a lot of cars because I have a few money. And so that was it. So now

I, this is like the most hurtful thing you could ever say to me right now.

And see, I, I find, I find having cars to be like stressful. I wouldn't want, I'd want to pick. Two cars tops. You know what I might do? I, I might like, um, like some kick ass RV or something like, some like baller thing to like travel the US in with like a hot tub on the roof and not secure enough.

Yeah, I don't know about that.

I've just got a lot of concerns about someone taking him out.

I feel like Bobby stays up at night. Like this is what wakes him up in the middle of the.

Well, it could have something to do with Michael, uh, deeply researching me before he came into the company and made me extremely uncomfortable with that. I don't know. I could be traumatized by something like that. Who knows?

Well, we don't have time to get near trauma, so I think maybe we move on. yeah, it's a good one. All right. So I wanted to talk about, Recently, Elon bought Twitter and they laid off lots of people and after the big wave of people that they laid off, we've kind of seen this back and forth and every couple of days this crops up. There's some employee.

Actually, I'm gonna go first.

Go from first. Yeah. I think that, first of all, I think kudos to them. I, you know, I, I don't think that I would do it. I think it takes a special person to. You know, quit publicly like that because they know that they're gonna quit. Right? Like, they know that's what's happening. Instead of turning in, I the first one did, well, probably not the first one, but everybody else after the fact has seen that. So why not go out that way?

I got, yeah, tech, tech market is looking really great right now. I'm sure that the prospects are, are fantastic. Well,

maybe they'll go, they'll pivot and do something else. You know, they'll,

it's not the greatest time of all time to make that decision, but yes.

Bobby, what do you think about your employees saying like, if you're gonna go out, go. The gun's a blazing

dude. Well, Ariel's already, she's already come at me on Facebook. But she does it in a way that's, I can't, I can't actually like fire her for, because she is so sarcastic that I'm like, uh, I don't think that that's real. You know? So it's one of those like, she's very crafty at it, but I think she's wild. I think you're wildly wrong here, Ariel. Really? Yeah. What did, like, I think that these people are, Like, I don't think that they did. If you watch, okay. If you not all of them.

which I think, I mean, I think then they would get fired in any other way. Like I would expect that the majority of people who got fired over Twitter this way. They, knew what was gonna happen., but the ones who didn't, I mean, they were gonna, there was gonna be another reason for them to be fired if they're that stupid.

That's probably true. I actually think that Elon, I don't know. It's hard to tell with him because I don't, I, I can't tell. I mean, obviously he's smart. I mean, you have to be smart to do what he's done. I kind of feel like he was doing some of that on purpose to like suss people out a little bit because like he was talking crap about, he actually, he tweeted some stuff about how their, how Twitter works and he was wrong. Like he actually was wrong.

Well, I don't know about gum. , I mean, they're obviously, well, I don't know about obviously, but I, I would assume that many of them are intelligent. I think there's two parts of this that are fascinating. Number one, A company like Twitter now being private versus public, a public company has to run every decision they make, every, feature that they ship, even something like layoffs through what it would do to their stock price.

will agree that it is questionable. I, I mean, I think it would take, even if you were expecting this to happen, it would take a very special type of person to feel like they could do this. I mean, I, I cannot even imagine opening up your computer or like pulling out your phone and like, here's what I'm gonna do right now.

Well, you know, there's also no other public figure, none, and this is Elon before he bought Twitter, who is as involved and as vocal and, and on Twitter as Elon. And so I think a lot of the, the Twitter employees likely thought that either it wouldn't be seen or it wouldn't if they made a statement, it wouldn't be fact checked. But on several of these people who have called out Elon, they would say something and he'd come back with the receipts. Like he'd bring the stats to refute them.

Now I do have a question about that because that's one thing that I thought about. Is he like, is it him? Is he reading everything or does he have a team who's like scouring Twitter for this? Like what

is, I think it's him. Yeah, I think it's him, which is. I, I actually do. I, cuz I've thought about that too. I'm like, how does this man have time? Cause I've looked at his tweets and replies. Cuz like if you look at just his tweets, like he, it seems like he only tweets a little bit. If you look at his tweets and replies, that man is in threads constantly tweeting about stuff. And it's like, he has 10 kids, right? He owns multiple companies. How is he doing this?

like, well, when you're that rich, you follow Disclaimer,

disclaimer, disclaimer, disclaimers. I don't know if he's on an Adderall or what, and not the data roll's bad. I'm not saying anything about it, but I do,

Elon, we, we like you. Please don't find this podcast in, we don't know what, what, uh, medications you're on. But, um

I do think that there probably were a lot of people that did it and thought like, I'm gonna get fired. I'm gonna go down in this, you know, this flame. But I don't think that any of them really expected him to. Tweeting back at them or tweeting to other people. Yeah, I just fired that person. That part is surprising, and I think it's kind of, I think it's kind of weird. I think it's, I kind of think it's a questionable decision for me, Elon, other than it's good content.

Yeah. Yeah. I feel like if I, if you were the type of per any of us or anyone, did it quit in this fashion and had your boss tweet back at you, like piece out, I would frame this like somewhere in your house they're doing that. Like this would need to be For sure. They're doing that. It's brilliant. They're framing it. It'd be your Christmas card for the year, you know, . Yeah. Here's what happened.

Maybe you aren't, maybe you aren't actually wrong, Ariel, but I just, I don't know. I just think, I think it's, I think it's a mix. I think it's a mix of people that were doing it on purpose, and I think it's a mix of people that are just like, just thought nothing would happen, which is

wild. Do we know how many people have done this? Is there any like, stats on the number of people who quit this way or called them out? I, I

don't know. I've, I've personally have only seen like three, but I'm sure there's, yeah. Plenty more than,

It feels like probably like five total tops, um, kind of public, public tweets that I've seen. Hmm, interesting. So, so, uh, so on this, on this decision, Ariel, are you sticking with your.

I mean my, my verdict is that it is questionable, but I support these people for making it because I think that they probably knew what they were doing.

Okay. Bobby, what about you? Questionable or not?

I think it's super questionable. I think it's funny too, which I don't know if I should say that It's hilarious. I think it's questionable, hilarious, and I do not support these people.

But if you're listening, we would love to interview you . Find out why you decided to do

this. Oh, that would be hilarious. I would have to probably not say anything. I would be super embarrassed cuz I'd be like, ah. Said you were stupid. So I wouldn't talk in that podcast.

All right. That was it.. , we'll be back in the future with more, and, , thanks for listening.