Big Beautiful Series: Market Impact
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
19 min
5 speakers
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What personal stories open the episode and why do they matter?
Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen and share this episode with someone who might need to hear it. Now, enjoy the show. Welcome back, ladies and gentlemen. You're listening to another edition of DIY Money. DIY Money.
Logan's in the house. In his house. What's happening, Megan? What's happening with you? You've been all over the map. All over the map. Tell me about college orientation.
Yeah, I took my son to Auburn, War Eagle, for college orientation. It was an entire, like almost two full days. You were texting me, and I was like, holy cow. Basically your orientation. Oh, my goodness, 29 years ago now. That is ridiculous how long ago that was. I stepped foot on the University of Kentucky campus for orientation. It might have been 27 minutes. I know. They were like, welcome, fill this out, be in class at 9 tomorrow. I was like, whoa, okay, that was orientation.
That's the psychology department. Each semester you'll be expected to volunteer for some cutting-edge experimental testing. Be prepared to receive several heavy doses of electric current.
It was amazing, and I went through a range of emotions. Parents out there, you'll get this. Many of you have already done it. The first emotion was, this is dumb. Why are they doing this? This is so overkill. The second emotion was like, oh, okay, I kind of see the thoroughness, the thoughtfulness, but they kind of already have our money. The bills are going to start coming again. And then concluding the last and final day, I was like, This was fantastic. And the rationale was that this university that has one of the highest retention rates in the country, meaning freshman to sophomore and then ultimately graduation, they take great pride in that, but they are very thorough in making sure both parents and students know
All that's available on campus, like everything. You need a suit? They got a spot for that. You need help with your writing paper? They got a spot for that. You need tutoring help? This is where you go. Medical needs? Blah, blah, blah. So exceptional. And now we're home. And now we're like here for three weeks, and then we drop them off, and it's like, oh, au revoir. Is your wife a wreck? So I used to say that. I got scolded for that. She is not a wreck. She is going through a range of emotions like a lot of moms. Yes.
I have to go. We have to leave now. I have to leave. We have to leave now.
How did college orientation spark a conversation about financial planning?
I have to go.
She's very proud and excited for our son to go off. She's going to be certainly sad, as I will. There's going to be a void in the house when the big, boisterous, you know, 18-year-old is no longer there. But, yeah, I mean, it's all... Part of life. But what's so great about this, Logan, it's like... People, I think, get hung up on past things. I try not to. I'm always looking forward to the next thing. Not like wishing the time away, but it's just a new phase, and it's awesome. It is awesome. And I said to my wife, this comes full circle to DIY money, We were wrapping this up. And, of course, a lot of the day and a half was about finances and billing and meal plans and all this stuff. And people had a ton of questions about loans and this and that.
And I looked at my wife and I said, I am so glad that 18 years ago, when, by the way, we didn't have, like – you know a lot of money to throw at it but we did the math we calculated an amount we wanted when he was eighteen and we started investing and we put in maybe thirty percent of the total current value of the account today And it will be sufficient to provide for his educational expenses in these undergrad. And it just, it's one less thing we have to worry about. And so for those listening out there, whether you have newborns or they're 12 or whatever, it's never too late to start saving for their future. And you can get on it right now. For sure. I love it. I also ran a 42 and a 10K, which is a 643 per mile.
And I'm so jazzed about that.
I forgot you haven't been on since then.
So for those of you that are, I know many of you are shaking your head, you don't care.
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