SPEAKER_0 [00:00:00]
Dramas, please.
SPEAKER_0 [00:00:13]
Yeah.
SPEAKER_0 [00:00:20]
This is life
SPEAKER_0 [00:00:21]
with a twist of lemon.
SPEAKER_0 [00:00:24]
So John, last week was the impossible episode and this week we're going beyond.
SPEAKER_1 [00:00:31]
Going beyond? Like Star Trek Beyond? No. No. No. Like beyond meat.
SPEAKER_1 [00:00:37]
Weren't we beyond meat already?
SPEAKER_0 [00:00:39]
No. That was that was impossible
SPEAKER_0 [00:00:41]
meats or impossible foods. I don't know what those called, but it was impossible beef
SPEAKER_0 [00:00:47]
and the impossible whopper.
SPEAKER_0 [00:00:49]
We got some interesting engagement on Facebook for that,
SPEAKER_0 [00:00:53]
you think?
SPEAKER_1 [00:00:54]
We did.
SPEAKER_1 [00:00:56]
You more so than us collectively,
SPEAKER_0 [00:00:59]
but Hey, man. This to me. There's no episode without John Kollmeyer.
SPEAKER_0 [00:01:03]
So
SPEAKER_0 [00:01:05]
right prior to this podcast, I decided to try the Beyond Burger, which is a competitor to Impossible. I could not find this in a restaurant, I had to go and buy it myself
SPEAKER_0 [00:01:16]
and grill it myself.
SPEAKER_0 [00:01:18]
And I have I have something to report.
SPEAKER_0 [00:01:21]
Yeah. What do you think? You think it would come out the same as Impossible?
SPEAKER_1 [00:01:25]
My guess would be no. That sounds hard to do this early on in the,
SPEAKER_1 [00:01:31]
meet alternative
SPEAKER_1 [00:01:34]
popularity
SPEAKER_0 [00:01:34]
contest, I guess. Yeah. I guess. So it's interesting. Impossible,
SPEAKER_0 [00:01:40]
stuff is all soy based. Right? And Beyond is,
SPEAKER_0 [00:01:43]
like, not soy based, which is why I was curious about it because sometimes too much soy and
SPEAKER_0 [00:01:48]
I don't handle it so well. So I tried this out.
SPEAKER_0 [00:01:51]
I had a hard time finding it, first of all. This is I think I mentioned this last episode. It's like the hottest IPO this year. Like, they've just been going bonkers
SPEAKER_0 [00:01:59]
in terms of, stock growth.
SPEAKER_0 [00:02:02]
I I will say the smell before I cooked the Beyond Burger
SPEAKER_0 [00:02:08]
was not great.
SPEAKER_0 [00:02:10]
It it if it had been beef, I probably would have thrown it out based upon the smell, but I didn't because it wasn't beef.
SPEAKER_0 [00:02:19]
It grilled up just fine. It held together,
SPEAKER_0 [00:02:24]
better than beef did
SPEAKER_0 [00:02:26]
on the grill.
SPEAKER_0 [00:02:27]
It tasted fairly beefy.
SPEAKER_0 [00:02:30]
The one thing that I would knock on it is when you when you took a bite
SPEAKER_0 [00:02:35]
and you looked inside the burger, it had a mealy like texture.
SPEAKER_0 [00:02:39]
Yeah.
SPEAKER_0 [00:02:41]
It was it was weird. I could probably send you a picture while we're talking because I did take some pictures. Of course, I did. Right? Of course, you did. And I I guess it's the ingredients. Right? I I feel like when I read about this, it seemed less processed,
SPEAKER_0 [00:02:55]
maybe. I don't know.
SPEAKER_0 [00:02:57]
But,
SPEAKER_0 [00:02:58]
I don't know. Again, interesting science, and all I can say is
SPEAKER_0 [00:03:02]
if somebody handed it to me and I didn't know it was not beef, I probably
SPEAKER_0 [00:03:07]
wouldn't have guessed that it wasn't beef.
SPEAKER_0 [00:03:10]
Yeah.
SPEAKER_1 [00:03:12]
Very some definitely the impossible burger. Does not look like the impossible burger looked on the inside there.
SPEAKER_0 [00:03:18]
No. The
SPEAKER_0 [00:03:20]
what was weird is the outside didn't look like this.
SPEAKER_0 [00:03:23]
Right. I guess I didn't get a picture of it after it came off the grill.
SPEAKER_0 [00:03:27]
But
SPEAKER_0 [00:03:28]
it yeah. I I don't know. It's it's different. And so I took the first bite, right, obviously not knowing what the inside would look like. And I looked at the inside. I was like, woah. What's going on here?
SPEAKER_0 [00:03:36]
But, it was alright. And missus Lemon seemed to agree that it was good. She did not try the Impossible Burger, so she didn't have a
SPEAKER_0 [00:03:44]
frame of reference, but, you know,
SPEAKER_0 [00:03:46]
it is what it is.
SPEAKER_0 [00:03:48]
Interesting. When, when I'm in Atlanta,
SPEAKER_0 [00:03:51]
I'm hoping to go
SPEAKER_0 [00:03:52]
beyond
SPEAKER_0 [00:03:54]
beyond burgers
SPEAKER_0 [00:03:56]
and try a beyond taco
SPEAKER_0 [00:03:59]
at Del Taco.
SPEAKER_0 [00:04:01]
Alright then. Have you ever been to Del Taco?
SPEAKER_0 [00:04:04]
I have not. I live in Cedar Rapids, Iowa. Yeah. But you've been to like Texas and stuff. They've got Del Taco down there. So apparently, Del Taco is so so one of the things that's pretty popular right now with Beyond Meat is
SPEAKER_0 [00:04:18]
their
SPEAKER_0 [00:04:19]
beef like crumbles.
SPEAKER_0 [00:04:20]
So it's supposed to be like ground beef. You can use it in tacos and things like that. Like, you can go to the store, buy it in a bag,
SPEAKER_0 [00:04:27]
and that kind of thing. So,
SPEAKER_0 [00:04:30]
apparently, Del Taco is making tacos
SPEAKER_0 [00:04:33]
with it, and I what I'm gonna land on, I'm gonna give it a try because why not? What do have to lose?
SPEAKER_1 [00:04:39]
I imagine it will taste just fine because,
SPEAKER_1 [00:04:42]
generally taco meat, if you're doing it right, would be seasoned
SPEAKER_1 [00:04:46]
more so than burger meat.
SPEAKER_0 [00:04:48]
Right. If you're doing a typical traditional
SPEAKER_0 [00:04:51]
beef taco
SPEAKER_0 [00:04:53]
Right. Which I guess that's my question that I I was I was gonna like come around here to John. When you go and order tacos, what do you order?
SPEAKER_1 [00:05:01]
So my favorite tacos in Cedar Rapids, Iowa
SPEAKER_1 [00:05:05]
actually comes as a platter of six different tacos,
SPEAKER_1 [00:05:08]
two carnitas,
SPEAKER_1 [00:05:10]
two beef,
SPEAKER_1 [00:05:12]
not ground beef. We're talking, like, steak,
SPEAKER_1 [00:05:15]
and two chicken.
SPEAKER_0 [00:05:18]
Okay. So the chicken is probably like chicken breast that's been chopped up and sauteed in a skillet?
SPEAKER_1 [00:05:24]
Either that or, like, slow cooked. Not sure.
SPEAKER_0 [00:05:27]
Oh, interesting. Okay. So of those three, what's your typical favorite meat for a taco?
SPEAKER_1 [00:05:33]
Of those three, I think I'd probably go pork. If I'm making them at home, I gravitate towards a chicken taco.
SPEAKER_0 [00:05:40]
Okay. Interesting. Interesting. Sliced or pulled or what?
SPEAKER_1 [00:05:44]
Sliced, generally. Okay.
SPEAKER_0 [00:05:46]
Sliced before or after cooking?
SPEAKER_1 [00:05:49]
After.
SPEAKER_0 [00:05:50]
Okay. Interesting. Interesting. Okay. So the I I think that, like, traditional American taco, right, is just ground beef on a flour tortilla
SPEAKER_0 [00:05:59]
with a little bit cheese.
SPEAKER_0 [00:06:01]
Maybe if you're going supreme, you get some lettuce, tomato, and sour cream.
SPEAKER_0 [00:06:05]
Right? Does sound like a Taco Bell menu. Yeah. But, I mean, like, even even as a kid, like, at home if we made tacos, which didn't happen often, but that's that's how we made them. Right? Usually, the soft soft shells.
SPEAKER_1 [00:06:17]
Are you See, when I I was growing up, we used those hard corn shells.
SPEAKER_0 [00:06:23]
Okay. So did you like those?
SPEAKER_1 [00:06:25]
I think I did when I was growing up. I can't remember the last time I bought any.
SPEAKER_0 [00:06:30]
So I I never cared for the hard shell taco. I didn't like the flour
SPEAKER_0 [00:06:36]
tortillas at Taco Bell. Right? Right. And so the problem with the hard shell though is you bite it and your taco explodes
SPEAKER_0 [00:06:43]
Right. Everywhere but your mouth.
SPEAKER_0 [00:06:45]
And I
SPEAKER_0 [00:06:47]
Taco Bell,
SPEAKER_0 [00:06:48]
I I don't even remember when this was, started wrapping
SPEAKER_0 [00:06:52]
the hard shell taco in a little refried bean and then flour
SPEAKER_0 [00:06:56]
Alright. Tortilla. There's this what it was called, double decker. I don't even remember what it was called. Yeah. But that held it together. So you got the crunch.
SPEAKER_0 [00:07:04]
You had something to, like, detract you from the blandness of their their flour tortillas,
SPEAKER_0 [00:07:09]
but it all held together. Right? Right. And then eventually
SPEAKER_0 [00:07:13]
came the chalupa and the gordita.
SPEAKER_0 [00:07:16]
Mhmm. And that was that was my jam. That was totally my jam. In in college, I
SPEAKER_1 [00:07:21]
would
SPEAKER_1 [00:07:22]
regularly
SPEAKER_1 [00:07:23]
get a two chalupa meal from Taco Bell on my way home from class.
SPEAKER_0 [00:07:28]
Wow. Two chalupas, John. Look at you. It's the meal, man. With the ground beef, 70% meat, and 30% filler? No. Always chicken, man. Oh, interesting. You got the chicken at Taco Bell. Alright. Well, this is this is emerging as a trend.
SPEAKER_0 [00:07:43]
I haven't gotten a chicken taco
SPEAKER_0 [00:07:47]
at Taco Bell in I I don't even know if I've ever done it, to be quite honest with you. I've always gravitated towards the ground beef plus filler,
SPEAKER_1 [00:07:54]
whatever that is. Which is also delicious.
SPEAKER_0 [00:07:57]
Yeah. You know? I mean, like like like the point you made. Right? Like, it's over seasoned so that it's you're not focused on whatever
SPEAKER_1 [00:08:04]
that is.
SPEAKER_0 [00:08:05]
Especially if you add add enough fire sauce on top. I mean. Yeah. There you go. I don't I don't are you a big fan of the fire sauce?
SPEAKER_1 [00:08:12]
I will
SPEAKER_1 [00:08:14]
have the fire sauce. I mean, hot sauce is good.
SPEAKER_1 [00:08:17]
I haven't tried, like they did
SPEAKER_1 [00:08:19]
they introduced a couple new ones recently.
SPEAKER_1 [00:08:23]
Yeah. Recently, that was probably, like, five years ago. I don't know if I've ever had any. Fire sauce to me was always, like, a little lacking in the flavor department.
SPEAKER_0 [00:08:30]
So I I don't know.
SPEAKER_0 [00:08:34]
What are you gonna do? Right? I don't know. Subsequently,
SPEAKER_0 [00:08:37]
I am I'm going to, from Del Taco, try what I imagine will just be a regular old
SPEAKER_0 [00:08:43]
beef taco or pseudo beef because it'll be beyond beef. But, I will report back after I've had it. I I'm sure you'll hear plenty from me about it.
SPEAKER_1 [00:08:53]
More videos?
SPEAKER_0 [00:08:55]
Blind taste test? Sure. Why not? We could do a blind taste test. I don't know that my body can handle that. I definitely won't finish They're tacos, man. Yeah. So
SPEAKER_0 [00:09:05]
interestingly, I don't know. I I at Del Taco, I only remember flour tortillas.
SPEAKER_0 [00:09:10]
So it'd be interesting to see if, like, there's a corn tortilla option because,
SPEAKER_0 [00:09:14]
now any anytime that I go out, right, like, especially if I'm doing street tacos of any sort, I I gravitate towards a corn tortilla every time.
SPEAKER_0 [00:09:25]
But I I don't know that you see that in fast food chains ever.
SPEAKER_0 [00:09:30]
At least I can't think of
SPEAKER_1 [00:09:32]
Probably not. They don't look long enough.
SPEAKER_0 [00:09:34]
Yeah. And looking at
SPEAKER_0 [00:09:36]
looking at Del Taco's menu here, I don't I don't think I'm gonna be finding any corn tortillas, but I prefer those. Sounds like maybe you do too? I prefer corn tortillas for tacos.
SPEAKER_1 [00:09:48]
Missus Kollmeyer has a wonderful
SPEAKER_1 [00:09:51]
flauter recipe,
SPEAKER_1 [00:09:52]
which the whole point being that it's a flour tortilla,
SPEAKER_1 [00:09:56]
but that comes out crunchy and buttery and delicious.
SPEAKER_0 [00:10:02]
Okay. Good deal. I can get behind that.
SPEAKER_0 [00:10:05]
Let me ask you this. Given your choice, what do you do for toppings? Cheese, lettuce, tomato,
SPEAKER_0 [00:10:11]
white onion,
SPEAKER_0 [00:10:13]
cilantro,
SPEAKER_0 [00:10:14]
lime.
SPEAKER_1 [00:10:15]
So given my choice, I would usually do white onion, cilantro,
SPEAKER_1 [00:10:20]
probably some fresh jalapeno,
SPEAKER_1 [00:10:22]
and,
SPEAKER_1 [00:10:24]
salsa or crema of some sort.
SPEAKER_0 [00:10:28]
Okay. Interesting. So no cheese?
SPEAKER_1 [00:10:30]
If given my choice, I mean, more often than not, I'm probably putting cheese on because it's available.
SPEAKER_1 [00:10:37]
We usually switch just between straight
SPEAKER_1 [00:10:39]
shredded Mexican cheese
SPEAKER_1 [00:10:42]
and
SPEAKER_1 [00:10:44]
what the heck is it called? Like, queso fresca.
SPEAKER_0 [00:10:47]
Okay. Okay. Interesting. So, like, Del Taco, I know is big on to cheddar, hand grated, of course. Of course. And that's pretty much what Taco Bell does too. I don't care for cheddar cheese on a taco. It's not my jam. I would prefer queso fresco, you know, not a lot though.
SPEAKER_0 [00:11:05]
I'm I'm kind of
SPEAKER_0 [00:11:07]
undecided on the sour cream front. Yeah. You said creme?
SPEAKER_0 [00:11:11]
Is that how you said crema? Crema.
SPEAKER_0 [00:11:13]
Okay. I'm not sure what you mean. Generally has,
SPEAKER_1 [00:11:18]
I guess it's not as, like,
SPEAKER_1 [00:11:20]
jelly as a sour cream. I don't know how to describe it. It's got a slightly different texture, more of a sauce than whatever
SPEAKER_0 [00:11:28]
you would call sour cream. I probably had it and just thought it was sour cream.
SPEAKER_1 [00:11:33]
Possibly. Yeah.
SPEAKER_1 [00:11:36]
Alright. Well, I I will tell you as far as sour cream. Until the sour cream front, have you ever used,
SPEAKER_0 [00:11:43]
just straight Greek yogurt as an alternative for sour cream? Not on a taco, but on a variety of other foods I definitely have. And I would say that most of the time, I enjoy that more.
SPEAKER_0 [00:11:55]
I'm I'm with you on that. It's it's hardier. It's got more flavor, more depth. I think texture wise, it's it's more appealing. Although, I will say if I don't know if you've seen it. I think it's was it Daisy or whatever the sour cream maker has, the squeeze tubes?
SPEAKER_0 [00:12:09]
Have you seen those? I have. I've never tried them. Oh, they're they're the most amazing thing ever because I I don't know I don't know what your life is like, but I feel like if I go to,
SPEAKER_0 [00:12:20]
you know,
SPEAKER_0 [00:12:21]
any place where multiple people are eating, including my my kids. Right? You open up the sour cream, and people start doing weird things with the spoon that they put back into the sour cream. You know? So, like, suddenly, they'll they'll go to dab it on a a taco, and they'll get some taco juice, and then they throw it right back into the sour cream bucket. And the sour cream bucket, like, starts getting funky in there. And so I'm I'm all about
SPEAKER_0 [00:12:44]
I'm all about the sour cream squirt bottle.
SPEAKER_1 [00:12:47]
Alright.
SPEAKER_1 [00:12:48]
What what other things come in containers like that? Cottage cheese, which your kids probably don't eat. Hey.
SPEAKER_0 [00:12:56]
No. They're not big on cottage cheese.
SPEAKER_0 [00:12:59]
Like, I mean, any dip. Right? But it's it's just
SPEAKER_0 [00:13:03]
you the thing about sour cream
SPEAKER_0 [00:13:05]
is it is a broad
SPEAKER_0 [00:13:08]
condiment, if you will. Whereas, like, take take French onion dip. Right? You know? Right. Or I'm just gonna or heck of a good dip or whatever. Right? You're gonna put chips, maybe a couple vegetables. Like, the the number of things that you're gonna shove in there is pretty limited,
SPEAKER_0 [00:13:22]
and it's it's not typically,
SPEAKER_0 [00:13:25]
right, things that are going to leave behind large amounts of grease, like like a
SPEAKER_0 [00:13:31]
taco meat or or the worst in my opinion. Yeah.
SPEAKER_0 [00:13:34]
Chili or
SPEAKER_0 [00:13:36]
salsa.
SPEAKER_0 [00:13:37]
Right? Salsa? Yeah. Like, you get those into the sour cream, and that's that's basically your, you know, game over. Right?
SPEAKER_1 [00:13:43]
Sounds like a real problem for you, Stan. I imagine this will become more of a problem for me down the road. Yeah. Well,
SPEAKER_0 [00:13:50]
you know, you just wait. You're gonna have a church potluck or something at some point, and you're gonna see the funkiness that can happen with sour cream when it's left to the masses. Yep.
SPEAKER_0 [00:14:00]
So anyhow, props to Daisy. I think that's what it's called. Right? Yeah.
SPEAKER_1 [00:14:04]
What would you do with a dollop of Daisy?
SPEAKER_0 [00:14:06]
There you go. And they're sour cream squirt bottles. I highly recommend them, especially if you have others in your life. If you're all alone,
SPEAKER_0 [00:14:15]
you know, very much single, the refrigerator is completely your domain, maybe it's not a big deal. Maybe you could spend that money else or other otherwise. But if you ever eat with anybody else,
SPEAKER_0 [00:14:25]
that Daisy Squirt bottle is where it's at.
SPEAKER_1 [00:14:29]
Nice.
SPEAKER_0 [00:14:30]
Alright, John. Did you see I blogged again?
SPEAKER_1 [00:14:33]
Only when you posted the link here in this note. You're you're not very good at sharing what you blog about
SPEAKER_0 [00:14:40]
to the masses on social media. No. I I don't like being on social media.
SPEAKER_0 [00:14:45]
But
SPEAKER_0 [00:14:46]
I I posted this after I shared with you a link from the NFL Players Association. I know you don't care about football. I I almost didn't make it through the first paragraph of your blog post. Oh my gosh. Killing me, man. But I I'm curious though, did you read the CBS article?
SPEAKER_0 [00:15:03]
I did when you sent that to me. Yes. So here's here's the premise. Right? Do you do you know do you know what a lockout is, John?
SPEAKER_1 [00:15:11]
My guess is it's kinda like the writer strike back in the day when there were no new TV shows.
SPEAKER_0 [00:15:17]
There you go. So basically,
SPEAKER_0 [00:15:18]
they have a they have a collective bargaining agreement, and they gotta it expires. They gotta get in a room, hash it out. They're not gonna do it fast enough because both side both sides want more than the other is willing to offer. They're gonna wind up locking the doors. We're not gonna have football for a little bit. Delayed season. Whatever. I I don't know how it actually shakes out, but it'll be something like that, and it'll be awful, and I'll hate it. And this amused me because the NFL Players Association
SPEAKER_0 [00:15:45]
released talking points to their players on how to prepare for this.
SPEAKER_0 [00:15:49]
And I thought to myself, well, this is right up my alley. This is like budgeting advice.
SPEAKER_0 [00:15:55]
What was the most outlandish thing on this list? There were 10 items. What what what struck you as odd?
SPEAKER_1 [00:16:03]
Probably the if you haven't driven a car in six months,
SPEAKER_1 [00:16:08]
then you should sell it.
SPEAKER_0 [00:16:10]
Just because, like, who has cars laying around that they don't use? For six months. Yeah. Yeah. I this, honestly,
SPEAKER_0 [00:16:18]
this doesn't
SPEAKER_0 [00:16:19]
surprise me as much as it did you because I see folks that have, like, collector cars or they have,
SPEAKER_0 [00:16:26]
you know, some kind of special vehicle or they've got, like, a truck that they only use for camping or that kind of thing.
SPEAKER_0 [00:16:32]
So that that didn't surprise me as much. Now I imagine that what they're referring to here is, like, a much more,
SPEAKER_0 [00:16:39]
elaborate,
SPEAKER_1 [00:16:40]
like Like the BMW. Or
SPEAKER_1 [00:16:43]
Yeah.
SPEAKER_0 [00:16:45]
Shall I drive this series BMW or that series BMW?
SPEAKER_0 [00:16:50]
Yeah. I don't know. It I feel like I wanna drive the red car today.
SPEAKER_0 [00:16:54]
Yeah. Right. Not the green one, the red one.
SPEAKER_0 [00:16:58]
Yeah. I admit that's a little little ridiculous. I thought it was amusing
SPEAKER_0 [00:17:02]
this idea of selling your clothes on Poshmark, ThredUp, or Tracey. I had to look up all of those. I've never heard of those.
SPEAKER_1 [00:17:09]
But Do you wear your clothes until, like,
SPEAKER_0 [00:17:12]
they're not usable anymore? Like, cools Pretty much. Yeah. Same here. Takes a long time. So I and I'll tell you what, like, I think about some of my favorite football players, and I don't dress like that. I dress much more simplistically.
SPEAKER_0 [00:17:24]
Yeah. But
SPEAKER_0 [00:17:26]
so anyhow, the crux of this though, of these 10 items,
SPEAKER_0 [00:17:29]
I my initial reaction was this is ridiculous. These guys should know how to budget. And then I got thinking, like, normal people don't know how to budget. Right? Like, why why would you expect someone who basically
SPEAKER_0 [00:17:38]
might have made it through a year of college and then got drafted by the NFL to know how to budget. Like, there's there's no life experience there
SPEAKER_0 [00:17:46]
to help them. And so I, you know, I don't think it's as ridiculous as it could be, but I actually thought this was good advice, and that was the crux of my blog article.
SPEAKER_1 [00:17:55]
Yeah.
SPEAKER_1 [00:17:58]
So
SPEAKER_1 [00:18:00]
what do you feel about these,
SPEAKER_1 [00:18:02]
like, home related items? Like, if you're in the market for a new home, consider renting instead of buying for now. Why would you do that,
SPEAKER_1 [00:18:12]
I guess, if you aren't gonna have income? But if they're if they're saving half their income,
SPEAKER_1 [00:18:17]
then I don't know. So Interesting.
SPEAKER_0 [00:18:20]
Think of think about this. I think there's
SPEAKER_0 [00:18:23]
this,
SPEAKER_0 [00:18:24]
I don't know,
SPEAKER_0 [00:18:27]
moire or whatever in American society that the the American dream is owning your own home. Right?
SPEAKER_0 [00:18:33]
And I I think that people
SPEAKER_0 [00:18:36]
get pushed to owning a home
SPEAKER_0 [00:18:39]
maybe when it doesn't make sense. And what I mean by that is,
SPEAKER_0 [00:18:43]
in the case of an NFL player, right, they are gonna get some contract with the team for three or four years,
SPEAKER_0 [00:18:50]
and then they're gonna move around. And they might have around a lot. And so they
SPEAKER_0 [00:18:55]
what are they gonna do? Collect a house in every city that they live in, plus one that they train in in the summer? Like, I get it. From that standpoint, they're moving around a lot. They're young. Right? So their level of, like, commitment to specific place is lessened. And I think I think that is an ideal
SPEAKER_0 [00:19:11]
situation for renting. I I am not of the opinion that renting is bad.
SPEAKER_0 [00:19:15]
Right? I
SPEAKER_0 [00:19:17]
there are a lot of people that it's the right move for,
SPEAKER_0 [00:19:20]
because they either don't want to take care of stuff, like, you know, the exterior of a home or the lawn, like that kind of thing, or,
SPEAKER_0 [00:19:29]
they're not necessarily gonna be in the same place for fifteen years, you know?
SPEAKER_0 [00:19:34]
Or the heck five years for that matter. And I think that that in that situation, like, renting is not a bad investment. And I I know that that clashes with a lot of, like, common
SPEAKER_0 [00:19:45]
perceptions of homeownership
SPEAKER_0 [00:19:47]
today. But I that makes sense to me. The the one that's like, do your repairs now, that one didn't make sense to me. That one was kinda silly because
SPEAKER_0 [00:19:57]
you like, save your money, but go, you know, do these home repairs now. Like, the the they're Right. They're at odds with each other. But,
SPEAKER_0 [00:20:04]
some of the other these other ones, I thought are are really good and really applicable to to everybody. Right? Like, try cooking at home instead of eating out as much. Yep. I mean, people eat out a lot. Right? Like, a ton. And you wanna save some serious scratch, try cooking. You know?
SPEAKER_1 [00:20:19]
The designate one day a week as a no spending day. I had never considered this as a as a a route or an option, but I kinda like it. Yeah. I Yeah. I do that all the time. And I I mean, maybe it's not one day a week because, like, I have some automated things, like my mortgage payment will change
SPEAKER_1 [00:20:36]
when it gets paid on what day each week or, like,
SPEAKER_1 [00:20:41]
I don't know, bills come out on different days. But, like,
SPEAKER_0 [00:20:45]
yeah, if I can make it so that I don't have to spend anything on one day, then I don't. Like Yeah. I I think that's a little different. Like, I'm with you, but I think it's a little different than saying, like, Wednesday is a day when we don't spend any money. Right? Wednesday is a a spend free day.
SPEAKER_0 [00:21:01]
That I is if if you are the kind of person that has expenses accruing every day, like, maybe little ones spread out over the week or whatever, I could see that as being an interesting deterrent. Like, I I dig it. I I kinda like that that strategy.
SPEAKER_1 [00:21:14]
Yep.
SPEAKER_1 [00:21:16]
Right. What else is here? Find renters for your unoccupied homes or bedrooms.
SPEAKER_0 [00:21:21]
I think this goes back to the, you know, find it, like, if you're in the market for a new home, consider renting.
SPEAKER_0 [00:21:27]
I I think, again,
SPEAKER_0 [00:21:29]
at least my read is if you're an NFL player, you're moving around a lot, you're young,
SPEAKER_0 [00:21:35]
buying a home might not be the best idea.
SPEAKER_0 [00:21:38]
Just that simple.
SPEAKER_1 [00:21:40]
See, I saw this more as a passive income play.
SPEAKER_1 [00:21:44]
Like, they'll still have income coming in from
SPEAKER_1 [00:21:47]
renting out spaces,
SPEAKER_1 [00:21:49]
whether it's on
SPEAKER_1 [00:21:51]
what the heck is that
SPEAKER_1 [00:21:53]
rent out room
SPEAKER_0 [00:21:55]
app site thing? Air Airbnb, John? Airbnb. That one. There you go. Wow. Alright. Okay. No. That's that's a fair point. I had not considered that. I I guess I am so averse to
SPEAKER_0 [00:22:05]
being in the the, like, renters market that, like, as as a owner, not as a renter, but as a owner,
SPEAKER_0 [00:22:12]
it just seems like a lot of work to me that that that didn't even cross my mind. That's But what you should be thinking here is that you're gonna have one of your Steelers buddies
SPEAKER_1 [00:22:21]
who is gonna rent out a room, and you can rent that.
SPEAKER_0 [00:22:26]
Now now we're talking.
SPEAKER_0 [00:22:28]
Meet your favorite Steelers player. Ju Juju Smith, if you're listening to this podcast right now, just know I will rent your apartment for a weekend. Alright, buddy?
SPEAKER_0 [00:22:38]
Oh, man.
SPEAKER_0 [00:22:39]
Other good stuff in here, like, you know, loaning money to friends, that's something we haven't talked a lot about on this podcast. That'd be interesting discussion at some point in the future. But, basically, say no. I think when you got
SPEAKER_0 [00:22:49]
a lot of income, a lot of liquidity,
SPEAKER_1 [00:22:52]
that's easy to do. And it's all very publicized too. And I think like you get a bunch of people asking you for it at that point.
SPEAKER_1 [00:23:00]
Yep. Yep. And some of these guys,
SPEAKER_1 [00:23:03]
like, if they're coming right out of college, they've probably never seen real money. Right? Right. Exactly.
SPEAKER_0 [00:23:09]
And and I think,
SPEAKER_0 [00:23:10]
you know, it's so easy to say, well, these guys are multimillionaires,
SPEAKER_0 [00:23:14]
and,
SPEAKER_0 [00:23:15]
they should know how to manage their finances. But, like, normal people don't know how to manage their finances,
SPEAKER_0 [00:23:20]
and and these these guys are coming out of college probably early.
SPEAKER_0 [00:23:25]
Right? And if they're they've been on a fast track sports route,
SPEAKER_0 [00:23:29]
they've probably not had a job because they've been working so hard in high school playing football. They get to college to play football. Like, there's no time for a job. You know? They're not they're not having to balance their checkbook and all that. So I I I get it. I get it. And Yep. You know, I I, I made fun of it a little bit, just the the statement, but
SPEAKER_0 [00:23:47]
I I thought this is actually pretty good advice, mostly generally applicable.
SPEAKER_1 [00:23:51]
For our all of our NFL
SPEAKER_1 [00:23:53]
playing listeners,
SPEAKER_1 [00:23:56]
we'd advise
SPEAKER_1 [00:23:57]
that you have a personal finance adviser
SPEAKER_1 [00:24:01]
who hopefully knows what they're doing.
SPEAKER_1 [00:24:03]
Yep.
SPEAKER_1 [00:24:04]
Sam Yeah.
SPEAKER_0 [00:24:06]
No. No. No. Not
SPEAKER_0 [00:24:08]
certified or licensed. Alright, John. We're talking a little bit about homes, and I know you're you've been noodling on some home stuff lately.
SPEAKER_1 [00:24:15]
Yeah. So I got an email from my
SPEAKER_1 [00:24:18]
mortgage loan officer who I worked with less than a year ago. And I guess we started talking right about this time, probably.
SPEAKER_1 [00:24:26]
And he basically said, hey. Interest rates are way low
SPEAKER_1 [00:24:30]
and kinda threw out some initial information
SPEAKER_1 [00:24:34]
for what a refinance would look like.
SPEAKER_1 [00:24:40]
Yeah.
SPEAKER_1 [00:24:41]
Alright. Triggered by interest rates dropping substantially.
SPEAKER_0 [00:24:45]
I have so many questions. Let's start with what is your interest rate right now?
SPEAKER_1 [00:24:49]
4.75.
SPEAKER_0 [00:24:51]
Okay. Alright.
SPEAKER_0 [00:24:53]
And how much did he say he could drop that interest rate?
SPEAKER_1 [00:24:57]
Probably get around 3.25
SPEAKER_1 [00:25:00]
to 3.5.
SPEAKER_1 [00:25:03]
So that's a point and a quarter to a point and a half.
SPEAKER_0 [00:25:08]
A percent a quarter, a percent a half. Okay. Percent. Alright. Yep. Yeah. Okay. So have you done the math? Like, if you,
SPEAKER_0 [00:25:16]
well, let me ask this. The cost to close, would you roll that back up into the loan, or would you pay for that out of your pocket?
SPEAKER_1 [00:25:26]
Unknown.
SPEAKER_1 [00:25:27]
I would probably pay for it out of pocket,
SPEAKER_1 [00:25:30]
but,
SPEAKER_1 [00:25:31]
like, we wanna buy missus Colmire a new car here.
SPEAKER_0 [00:25:34]
Okay. So
SPEAKER_0 [00:25:36]
So have you looked at what the monthly payment decrease is if you roll it in or if you pay for it out of pocket?
SPEAKER_1 [00:25:43]
I have not. I've only looked at paying out of pocket.
SPEAKER_0 [00:25:48]
Okay. So how much are you talking about out of pocket?
SPEAKER_0 [00:25:53]
You pay for an out of pocket decrease in your payment.
SPEAKER_1 [00:25:57]
$107.
SPEAKER_0 [00:26:00]
Okay. And your closing costs are?
SPEAKER_1 [00:26:04]
Between 1,100 and 1,200.
SPEAKER_0 [00:26:07]
So if you did this, you would
SPEAKER_0 [00:26:09]
basically break even
SPEAKER_0 [00:26:11]
at a year. Little little earlier than a year. Right? Right. Yep.
SPEAKER_0 [00:26:15]
So I guess the next question
SPEAKER_0 [00:26:17]
is,
SPEAKER_0 [00:26:18]
how long do you plan on living there, John?
SPEAKER_1 [00:26:21]
Unknown, Stan.
SPEAKER_1 [00:26:23]
For forever right now.
SPEAKER_0 [00:26:26]
Do you envision it will be longer than a year?
SPEAKER_0 [00:26:29]
Yes.
SPEAKER_0 [00:26:31]
Longer than two years?
SPEAKER_0 [00:26:32]
Probably.
SPEAKER_0 [00:26:34]
Alright. So here's the thing. After that first year, right, that $107
SPEAKER_0 [00:26:39]
starts to matter.
SPEAKER_0 [00:26:40]
Prior to that, it really doesn't. Right? Because you're you're not actually seeing a change
SPEAKER_0 [00:26:46]
in your costs until you
SPEAKER_0 [00:26:49]
kinda make up that cost to close. Now at one and a quarter percent,
SPEAKER_0 [00:26:55]
that could see how that's definitely compelling. Four and three quarters
SPEAKER_0 [00:26:58]
seems
SPEAKER_0 [00:27:01]
highish.
SPEAKER_0 [00:27:02]
I guess it wasn't a year ago because the the Fed was increasing rates. That that makes sense. I get that. Yep.
SPEAKER_0 [00:27:08]
So I definitely see the temptation.
SPEAKER_0 [00:27:10]
Now one other thing to keep in mind, your the clock on your loan resets.
SPEAKER_0 [00:27:16]
Right? So you
SPEAKER_0 [00:27:17]
you're now you've only got twenty nine years left. Well Right. Not yeah. Not twenty nine years. Yeah.
SPEAKER_0 [00:27:23]
Yeah. And so you're going to reset that clock,
SPEAKER_0 [00:27:27]
and now you've got thirty years left. I think the other thing to keep in mind is your closing costs
SPEAKER_0 [00:27:34]
from the first mortgage
SPEAKER_0 [00:27:37]
are much more expensive if you go and refinance this early.
SPEAKER_0 [00:27:41]
That makes sense.
SPEAKER_0 [00:27:42]
So you paid a certain amount to get a loan that you were gonna hold on to for, let's say, ten, eleven months or whatever. Right? That was an expensive mortgage to take out at the point that you refinance.
SPEAKER_0 [00:27:53]
I don't I don't have a good formula for you to figure out, like, how you spread that out across or think about it, but
SPEAKER_0 [00:27:59]
that's like the other that's the other dimension to this that people don't often talk about. Now,
SPEAKER_0 [00:28:04]
that said,
SPEAKER_0 [00:28:05]
if you were thinking of living there for five years,
SPEAKER_0 [00:28:08]
right,
SPEAKER_0 [00:28:08]
and you
SPEAKER_0 [00:28:10]
were going to take that $107
SPEAKER_0 [00:28:12]
and,
SPEAKER_0 [00:28:13]
you know, put it towards your principal like you should,
SPEAKER_0 [00:28:17]
after a refi,
SPEAKER_0 [00:28:19]
then, you know, you're talking about, what, $4,800
SPEAKER_0 [00:28:23]
you're gonna throw at your principal, which that's
SPEAKER_0 [00:28:26]
that's significant. Like, I I could definitely get behind that. I think if that enables you to pay that principal down a little faster,
SPEAKER_0 [00:28:32]
you know, great. I think one of the other things that you could look at, and I I think I feel like you did this the other day, but I I don't remember what the numbers are.
SPEAKER_0 [00:28:40]
If you look at the amortization schedule for your current loan and the loan you're about to have, you're gonna get a total amount paid on interest. Do you know what those amounts are?
SPEAKER_1 [00:28:50]
Yeah. The You difference have to tell me. You have to tell the between the two is just shy of 28,000
SPEAKER_0 [00:28:57]
over the life of the law. Okay. So it's new car territory. Right? Yep. That's that's significant. Right? So that that's another way to kinda gauge, like, the value of this. Again, if you plan to be there for a long time, it doesn't make a lot of sense to refinance if you plan on moving
SPEAKER_0 [00:29:14]
in the next year to
SPEAKER_0 [00:29:16]
you know, I I would say, you know, five years is a good good barometer,
SPEAKER_0 [00:29:21]
but your your,
SPEAKER_0 [00:29:22]
refi will pay for itself in a year. Then the only other thing to consider is the time and the effort to go through all that.
SPEAKER_1 [00:29:32]
Yep.
SPEAKER_1 [00:29:34]
I don't know what that looks like, Stan.
SPEAKER_0 [00:29:36]
I mean, so you've been through this before. I don't if you're using the same guy to do your refinance,
SPEAKER_0 [00:29:43]
I I imagine he's gonna need the same
SPEAKER_0 [00:29:46]
material,
SPEAKER_0 [00:29:47]
but maybe he's got some stuff still on file, like all the documents that you had to share about your income and that.
SPEAKER_0 [00:29:53]
But my guess is it's probably not,
SPEAKER_0 [00:29:55]
like, a really big deal for you to go find, you know, and and share it. So
SPEAKER_0 [00:30:02]
I don't know. Like, having done a refi twice,
SPEAKER_0 [00:30:05]
I don't remember either of them taking particularly long.
SPEAKER_0 [00:30:09]
And it like, because you're not having to deal with all the home buying stuff
SPEAKER_0 [00:30:13]
and the mortgage. You're just dealing with the mortgage a bit.
SPEAKER_0 [00:30:16]
So I wouldn't necessarily let the time or, like, effort element detract you if the dollars and cents make sense.
SPEAKER_1 [00:30:25]
And
SPEAKER_1 [00:30:26]
they kinda do if I'm here for more than two years?
SPEAKER_0 [00:30:30]
Well, I mean, if you're if you're here for two years, right, you're gonna you're gonna save $1,200.
SPEAKER_0 [00:30:35]
That's that's basically what like, the bottom line here is you're gonna save $1,200
SPEAKER_0 [00:30:41]
every year
SPEAKER_0 [00:30:42]
with your refinance after the first year. Right? Right. And so if you plan to stay there for two years, like, you'll save $1,200. It's just how the math works out. Right? If you're gonna be there for five years,
SPEAKER_0 [00:30:54]
you'll save $4,800.
SPEAKER_0 [00:30:56]
Right?
SPEAKER_0 [00:30:57]
And that number's only going to get bigger, right, as time goes because that's how these things work. Right. And then if you if you go at it from the standpoint of I'm gonna throw this additional money at your principal,
SPEAKER_0 [00:31:07]
you can you can sit down at your amortization schedule,
SPEAKER_0 [00:31:11]
and you can say, okay. The loan starts with, you know, I I'm just making numbers up. Right? A balance of a $100
SPEAKER_0 [00:31:17]
At the end of year one, balance is,
SPEAKER_0 [00:31:20]
$99.05.
SPEAKER_0 [00:31:21]
Right? At the end of year two, maybe it was supposed to be $98.09.
SPEAKER_0 [00:31:26]
Right? But now,
SPEAKER_0 [00:31:28]
I'm gonna drop it by another $1,200.
SPEAKER_0 [00:31:31]
And then you look at the amortization amortization schedule, and you realize you just hopped two years or whatever. Right?
SPEAKER_0 [00:31:36]
And then, you know, you do that with a couple of years, and you can see how quickly this mortgage is gonna disappear
SPEAKER_0 [00:31:40]
going at that route. And so, you know, that's that's an advantage
SPEAKER_0 [00:31:45]
that you can definitely take a look at. Let me let me ask you another question. Are you
SPEAKER_0 [00:31:51]
are you paying PMI right now?
SPEAKER_0 [00:31:54]
No.
SPEAKER_0 [00:31:55]
Okay.
SPEAKER_0 [00:31:56]
If you roll the closing costs back in or you do this refi,
SPEAKER_0 [00:32:01]
are you going to have to pay PMI?
SPEAKER_0 [00:32:04]
No. Okay.
SPEAKER_0 [00:32:05]
So then that's that's the only other consideration I would have is, like,
SPEAKER_0 [00:32:10]
PMI is just a waste of money, and you wanna avoid it at all costs. I I don't know, man. Like, honestly, if this were me, this looks pretty compelling.
SPEAKER_1 [00:32:19]
Alright.
SPEAKER_0 [00:32:21]
You have to let us know what you do, John.
SPEAKER_1 [00:32:24]
Well, I don't have as many questions this time around because we spent so long talking about this a year ago.
SPEAKER_0 [00:32:31]
Yep. Well, and, you know, I mean, a a refi
SPEAKER_0 [00:32:35]
I I don't know. I I did it twice. It's not the end of the world. I think you just have to look at your budget. I I think, I wrote this in the the write up on how we paid off the house. The first refi we did,
SPEAKER_0 [00:32:47]
closing costs were much higher than they're going to be for you. I I think they're almost twice as much. And we were able to
SPEAKER_0 [00:32:56]
like, the rate was such as a drastic decrease
SPEAKER_0 [00:33:00]
that we paid for it, like, in less than nine months. Right.
SPEAKER_0 [00:33:05]
And it it just seemed like a no brainer.
SPEAKER_0 [00:33:08]
My second refi was less effective, but that's for others other reasons.
SPEAKER_1 [00:33:13]
So
SPEAKER_1 [00:33:14]
Now do you think that interest rates will continue to go down?
SPEAKER_0 [00:33:20]
Well, here's here's what I'd say. You're looking at a at a bottom out of what? Three and a quarter, you said? Yeah. Assuming I have the best rate.
SPEAKER_0 [00:33:30]
Yeah. Okay. I mean, you can look historically at where they've been. Right? Right. And you can see that they didn't get much below what you're talking about. Right?
SPEAKER_0 [00:33:40]
I think you'd be hard pressed.
SPEAKER_0 [00:33:43]
Like,
SPEAKER_0 [00:33:45]
you're you're hedging your bets. Right? You're making a gamble on that. Right. And if it goes down by, like, a tenth of a percentile, is that worth it? Right? Right. And you can you can do the math on that, and the answer is probably not.
SPEAKER_0 [00:33:59]
Right? Right.
SPEAKER_0 [00:34:01]
And you gotta keep in mind, right, that you don't start paying off those closing costs until you incur them, and that, like, lengthens the clock time you need to be in this house to recoup these costs. So there's a whole bunch of variables. Right? And it just depends what what your end goal is, what you wanna do, your, like, tolerance for for risk because, yeah, they could go down,
SPEAKER_0 [00:34:22]
but they also could go up.
SPEAKER_0 [00:34:23]
You know? And you don't like, you can't control the market. You don't know what's gonna happen. You can look at historical mortgage rates. I think you should do that. I think you'll find that $3.03 and a quarter probably isn't too far from where they bottomed out.
SPEAKER_0 [00:34:36]
And I, you know, I just make my call off that.
SPEAKER_0 [00:34:39]
Alright.
SPEAKER_0 [00:34:41]
If it's any consolation for you, your three and a quarter interest rate for your thirty year loan would be better than the interest rate I had on my fifteen year.
SPEAKER_0 [00:34:50]
Which you no longer have, Stan. I I know I got. But my point being, I think that's a competitive rate at this point. Right.
SPEAKER_1 [00:34:57]
Alright.
SPEAKER_0 [00:34:58]
Well, John, let me know how it goes, man. I'm gonna let you go and and figure out all the paperwork you need to get prepared so you can refi.
SPEAKER_1 [00:35:07]
Alright. Sounds good.
SPEAKER_0 [00:35:09]
Until next time, my friend.