The Daily Show: Ears Edition - Trump's IndyCar Race, Lindsey Graham's Sis Successor & Toll War in Hormuz Strait | Beth Kobliner

Episode Date: July 15, 2026

Michael Kosta dives into Trump’s busy schedule: hosting an IndyCar event, providing a totally legit medical explanation for how part of Lindsey Graham “blew up,” and reigniting the war in Iran over tolls for the Strait of Hormuz. Plus, Graham’s successor is confirmed, and although she's his sister, she might be America's most qualified senator. The Daily Show counts down the greatest moments in America's 250-year history, from the Declaration of Independence to winning World War II to the time Lenny Kravitz's d**k fell out on stage and changed American history forever. Financial literacy expert and author Beth Kobliner joins Michael to discuss her New York Times bestseller, now in its 5th edition, “Get a Financial Life: Personal Finance in Your Twenties and Thirties." They talk about only half the country requiring high schools to teach personal finance, despite the programs fostering the financial literacy needed to improve credit scores and manage debt. Kobliner effortlessly explains high-yield savings accounts and investing, why retirement accounts should be renamed “super smart investment accounts,” and how getting your finances together is easier than banks and investment companies want you to think. Plus, Kosta asks questions from “broke Daily Show staff” like whether robbing a bank is a viable retirement strategy and whether Gen Z will ever own a home. -- New customers can save 35% on your first month of subscription by going to https://dosedaily.co/TDS or entering TDS at checkout. CarShield is offering our listeners 20% off with the code TDS at https://CarShield.com/TDS -- The Daily Show airs weeknights at 11/10c on Comedy Central. Stream full episodes on Paramount+ Follow TDS: YouTube, TikTok, Instagram, Twitter, Facebook Learn more about your ad choices. Visit podcastchoices.com/adchoices

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it just got a lot more expensive. Also, don't do that. Let's get into the headlines. Let's kick things off with some fun news. President Trump hosted an IndyCar event at the White House. Now, if you don't know what IndyCar is, it's for fans who have more class than NASCAR, but less money than F1. And say what you want about Trump.

He's a showman. So I expect to see him hype up this exciting event with some energy. Maybe it doesn't have that eye of the tiger energy. This would be like if instead of running up the steps of the museum, Rocky took the chairlift. Lazyest Rocky ever. He doesn't even work out. He just drinks the eggs.

Stay down, Rocky. Okay. It would still be a better reason. than the new Moana. Oh, poor Disney. I hope the Rock is okay after that. But you know what? I understand why Trump might be a little down. He's on a sad weekend. His best friend was poisoned by his other best friend. No, no, no, no, no. Putin did not kill Lindsey Graham while he was in Ukraine.

It's just a suspicious coincidence that makes a lot of sense when you think about it. But according to President Trump, Lindsay died from a specific medical... you know what, let's let the president just delicately explain it. Do you think we know the whole story about his death? Well, I think we do. We've had great doctors, and they talked about, you know, a certain part of his body literally blew up. That's right.

Part of his body blew up. The New England Journal of Medicine calls it spontaneous cablooey syndrome. It's actually a fairly common cause of death. Well, I'll remember when Queen Elizabeth II died after her vivant. vagina went boom. But now the question is, who will fill in the senator's seat until the next election? I assume someone like the lieutenant governor

or the Secretary of State. Whatever political process we have in place for this. We now know who will fill Senator Lindsey Graham's seat in the U.S. Senate. His sister. Or his sister. I guess. His sister? A Senate seat? That's an

inheritance jackpot. Most people just get a garage full of damp boxes. Who's idea was this? President Trump recommended Graham's sister for the interim job, calling it a fabulous tribute to Lindsay. So we're going to work for one Senator Graham to another Senator Graham. It's just tragically symmetrical.

Yeah. If there's one thing this guy knows all about, it's being tragically symmetrical. But for real. I disagree with this guy who looks like a, who looks like, finger-link potato that they put a dollop of cream on top of. I mean, there was more consideration about who should take over for Pat Sejack, and his whole job was correctly reading up to three words at a time.

But still, I'll give her a fair shot. What exactly are her qualifications? Darlene Graham Nordone has more than two decades of experience in government. She is commissioner of the South Carolina Commission for the Blind. She was business service director and communications director for the South Carolina Department of Employment and Workforce and his president-elect of the National Council of State Agencies for the Blind. No surprise there. Another giveaway to the all-powerful blind people lobby.

I hope everyone bought stock in that company that makes those sticks. They're always tapping on the sidewalk. I'm kidding. Obviously. If anything, she's overqualified. I'm worried she'll make the other senators look bad, which would be embarrassing for the ones who know where they are right now. Let's move on, because Lindsay's sister will have her work card.

out for her for the next five months, plus 36 weeks vacation time, because a lot of shit is going down right now. The U.S. launching strikes for a Thursday day as President Trump informed Congress that U.S. military action is ramping up. We're going to hit them very hard tonight, and we're going to hit him hard tomorrow, and there's not a damn thing they can do about it. They have nothing. They have nothing going other than they have big mouths.

By the way, it doesn't seem fair that Lindsey Graham pushed us into this war, and we still have to fight it even after he dies. It feels like when my daughter makes me buy a really complicated Lego set, and then five minutes in, she goes to watch TV. Two hours later, I'm sitting by myself assembling a mermaid castle. Like, what the fuck am I doing this for? Anyways, it came out great. Of course, the reason why Trump says he went back to war

is that Iran wants to charge tolls for ships going through the Strait of Hormuz. And guess what, buddy? Okay? You can't do that. We believe international waterways should be free of tolls. We're not in our position. Trying to impose a tolling system. Iran's plan, a form of international extortion, is unacceptable. No country is allowed to charge tolls or fees on an international waterway. That's existing international law.

Yeah, newsflash, Iran. Charging a toll is not allowed under international law. Doesn't matter if it's 5% or 1%. The only acceptable number is 0%. Okay. Trump announcing plans to charge a 20% fee on all cargo that passes through of the Strait of Hormuz. We're charging 20%.

That's like twice what I give a waiter. But maybe 20% is reasonable. What kind of damage are we talking about here? Just a couple hundred bucks. If Trump's fee goes into effect, a massive oil tanker transporting 2 million barrels could have to pay the U.S. upwards of $32 million. $32 million.

Jesus. Although if you sign up for EasyPass, it's only 29.1. So... At least I hope they had the easy path. Imagine steering your boat through a toll booth, frantically searching

your center console for $32 million in quarters. It's crazy to pay $32 million for something that used to be free. This is just like when the grocery store started making us pay

10 cents for bags, except it's 31.999 million more. And by the way, we're not even in control of the strait. Iran is. And now you're just giving them ideas. Its foreign minister wrote on social media the following.

Quote, The president is absolutely right. Whoever provides secure and safe passage of commercial vessels through the Strait of Hormuz should be compensated for their service. 20% of course is too much. We will be fair. Jesus Christ. How did we end up like this?

We're a global superpower and we're haggling over tolls with the Iranian. We're not going to beat the Iranians at haggling. They invented it. And putting raisins on rice. There's no haggling with Iranians. We're going to go in there looking for a deal on the Strait of Hormuz and end up coming out with an $800-dollar

raw silk bed spread that never wanted it in the first place. How are we going to get out of this jam? Today, in a major reversal, President Trump says the U.S. will not charge tolls on cargo moving through the Strait of Hormuz. I was called by different people, and they said,

We'd love to do it a different way. We'd love to invest in the United States as opposed to charging a fee. And I like that, actually, because I don't think anybody should be able to charge a fee for the street. All right. Few. God, I was worried there for a second.

Then I remembered everything Trump says is bullshit. So thanks, President Trump. So, in summary, the bottom line is we're back at war with Iran to stop them from charging tolls that they weren't charging before we went to war with them, so that nobody can charge tolls except we want to charge tolls. Can anything be more embarrassing than this? Going even further, Trump declaring the U.S. will soon become, quote,

the guardian of the Hormuz Strait. Guardian of the Hormuz Strait. You couldn't even protect the reflecting pool from algae. So the Guardian of the Strait is a pretty fancy term for a toll booth collector. Some dudes in the middle of I-95 right now, hey, I'm kind of the Lord Protector of the New Jersey Turnpike, what you're going to do about? I mean, for God's sake, how lame of a nickname

can you get Guardian of Hormuz? That's right, citizen. Well, who is that? It is I, the Guardian of the Strait of Hormuz. Defender of truth, justice, and that little water thing we all learned about three months ago. Wait, you're an actual superhero? Of course I am.

That's why I have this costume, this whole costume. That's the wrong spelling of straight. No. You added a G.H. Actually, that's intentional. I don't want the leotard to give the females the wrong idea. Just to be clear, straight man, straight of Hormuz. Tell the ladies.

Okay. So your mandate is to protect the shipping lanes? That's right. When I'm here, every ship will be safe from missiles. Holy shit. I thought you were protecting the straight from missiles. Well, not for free. I'm not. Couldn't be a little something, something for my services. Luckily, I do take Apple Pay.

Well, that doesn't seem very noble. I mean, Spider-Man doesn't charge people to help them. Yeah, because that broke, sticky bitch lives with his aunt. No, thank you. I need an apartment to bring the ladies home, remember? Did you tell the ladies I'm straight? No, I'm still talking to you. Jesus. Yeah, well, I know you better pay up quickly for that protection.

I also take Venmo. My handle is at Straight Man. That's for the G-A. It just, it feels sketchy to charge people to save them. Yeah, guess what? Not all of us are Batman inheriting our dead parents' feud fortune, okay? Wow, wow, wow, just me and my butler in this giant freaking mansion. We'll suck it on it, Bruce.

Jesus, holy shit. Can you please do something about these missiles? No, but you can. Now, it is customary to tip 30 to 40 to 50%. What can I put you down for? I guess 30%. Wow. Lowest option. Okay.

Fine. But you'll still guarantee me total protection, right? Total protection, 100%. 99%. Okay, you know what? I can't guarantee it. They have missiles, man. What do you want me to do? I'm starting to think there's nothing you can do, that you're just a charlatan trying to profit

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Our countdown continues with the top 10 moments in U.S. history. Number 10, the moon landing. That made the top 10. I mean, sure, the moon, I guess. Personally, I forgot that even happened. Number nine, victory in World War II. Huh, okay. I don't know if that really made that big of a difference, but... Yeah, sure. Personally, I forgot that even happened.

Number eight, that time Lenny Kravitz's pants ripped open and his dick fell out. I remember exactly where I was when Lenny Kravitz's penis fell out. I've never felt prouder to be an American in that very moment. I was at the hospital. It was the birth of my first child. I told my wife, stop pushing so we could all gather around the TV and watch together. Sorry. Can you come back to me? I just, I get really emotional when I think about it. It was a moment that truly defined a moment. truly defied the nation.

For a few fleeting seconds, Lenny Kravitz's penis finally fulfilled America's promise as that shining city on a hill. You were so moved that we actually named our baby Lenny Kravitz's penis. I can't believe she's 10, though.

Number seven, the Declaration of Independence. What? No, no, we're not done talking about Lenny Kravitz's penis. Oh, they can. I got it as a back tattoo. Check it out. Can you see it?

It's right there. That's his penis. It's all I think about whenever I see Lenny Kravitz or when I see Zoe Kravitz. Anytime I close my eyes, really. Are you talking about the time that Link Kravitz's pants split open and his penis flopped out? You know what, brother? I'm supposed to be doing the Gaysburg Address, but I'd rather get in on this. But I don't understand why we don't add Lenny Kravitz's penis to Mount Rushmore.

Like, do we care about honoring heroes in this country or not? Yeah, like my family and I, We don't even watch fireworks on the 4th of July anymore. We just watch Lenny Kravitz's penis explode out of his pants. Number seven, the declaration of... Will you stop interrupting us? No one gives a shit about that. Not on Lenny Kravitz's penis. Can we move on? Oh, you want us to move on?

Yeah, that'd be great. All right. Uh, why don't we move on to this moment in American history? What is that? Just some elevator footage of you screwing around behind your wife's back. What the hell? What did you get that? I didn't actually think we were going to just leave. the Kravitz part of the countdown to chance, did you?

Oh my God, God, God, God, God, am I. The Lenny Kravitz penis segment can be as long as we want to. Got it? Okay, fine. And we all want custom trucker hats with an image of the Kravitz pants split on them. Custom trucker hats. Guys, that's expensive.

Not as expensive as getting divorced. Thank you, Lenny Kravitz's pants. Thank you for your service to our country. Thank you, Lenny Kravitz's pants. His penis, the penis, not my daughter. Thank you for everything. Number seven, the Declaration of Independence. Okay, fine.

The Declaration of Independence. Well, it kind of surprised everyone. It was bigger and longer than people expected. I tricked you. I'm still talking about Lenny Kravitz's penis. I don't know. We're joining me on the show. Don't go away.

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Yeah. 30 years. Yeah. Long time. Are we not learning? Are we not getting something? How are we as a financial nation? Not so good. Okay.

Not so good. But the problem is that most people have ever, have never taken a personal finance class. And 10 years ago, five states had a requirement that you needed one personal finance class to graduate high school. And now more states are required to do that. It's actually 26 states. But you need a while to get the quality programs in place. And the crazy thing is we know if you teach personal finance right, it can improve credit scores.

It can improve the way people handle their debt. So it's very important. It sounds like 25 states, 26 states, have financial literacy. Yeah. It sounds about right. I mean, I would say half this country. Correct. I guess that's right.

Could you submit? No, but I mean, just by taking a class doesn't mean you're financially literate, but you can go through life with an idea. So I wrote a curriculum, this organization called the Heckscher Foundation, came to me and said, could you write a curriculum for New York City students? And it's 10 lessons of what you need to know for you. for young people in New York City. And I've been going to Queens. I'm from Queens.

And the Bronx. Thank you. And the Bronx. And all over, all five boroughs. And what I've seen is young people are so enthusiastic to learn about money. And they're smart. And they're engaged.

And we just have to give them the tools to get finances. Their finances in order. Yeah, I mean, this book is geared towards 20s and 30s. Why those years in particular? Well, you know, I've been doing it for so many different generations,

but I have to say that in 30 years, this generation, these people today in their 20s, Gen Z, has it harder than any other generation in their 20s. Or is it that they're just annoying as . Now, why is it harder? It's harder because unemployment rates are higher for this generation than in the past.

And there's been a lot to talk about, oh, if you go to college, you're not getting the job. Well, if you didn't go to college, it's even worse. And it's buying a home, home affordability. You know, back in my day, the average age or the median age for someone to buy a home was 28 years old. Today it's 40 years old. So there's a lot of obstacles young people face, and I'm afraid sometimes they think it's futile and it's not worth it. Like, what could these small things do?

But these small things do make a difference and it's important. Well, let's talk about some specifics because one of the first things you talk about in here is getting rid of your debt. Right. Why is debt such a bitch? But what really is it about debt? That's like a really good name for my chapter next time. But basically, when you say have a credit card, right? The average credit card interest rate now is 22%.

That's the highest that it's ever been. That's crazy. Again, 10 years ago, it was 10%. If you had good credit, you can get 8%. This is so expensive. So if you say charge something on a credit card, say, an iPhone for $1,000. If you paid it off in full at the end of the month,

you wouldn't pay any interest. But what most young people do is pay those minimum monthly payments. And so maybe it's $35, whatever it is, and you're being charged 22% on all the rest that's still there. It would take you for a $1,000 iPhone. It would take you 16 years and more than $2,000 in interest if you only made those minimum payments. That's such a good point to make.

And I want every young person to know that when the credit card bill comes, they put in bold and a box. Right. Minimum payment. Right, right. It sounds so great. You don't have to do the minimum payment. Right, right. In fact, you shouldn't do the minimum payment.

You should not do the minimum payment. You should pay off the full bill if you can. If you don't have the cash for it, even if you pay just $10 more than the minimum per month, it would only take you instead of 16 years, it would take you five years to pay it off quickly. But how about you just pay it? You just pay it. Yeah. How about that? Or how about even you don't charge what you can't afford?

I mean, that's the trick. Easier said than done, obviously. But it wasn't until I was 32 and I got a credit card bill that I really thought, well, how does a credit card company make money? Right. Can you just tell me at 32 how a credit card company makes money? Yes. Anyone else that's listening?

Basically, it's just that they charge you interest on the amount you're not paying back. And they're charging such high interest right now. There are also these new deals where they say, we're not going to charge you interest at the checkout line. And the problem is they don't charge you interest, but they know young people are always late. You know, the vast majority of young people who do those kind of plans, they say something costs $100.

You only put down $25 today, and then you pay us off later, but young people are late, and it forces people, not forces, but it encourages people to buy more than they actually can afford. You talk, you know, you have a great beginning chapter where it's like, hey, if you don't want to read the whole book, just read this. Right. But then you get into great detail about how the system is making it more challenging for young people. And it really is a great guide.

I really hope everyone in the 20s and 30s reads it. Besides just debt, you need to be saving money. Right. How do you save money? Well, automatic savings is the thing to do. Boo yeah, Beth. Basically. What does that mean automatic savings?

Almost like you're going to tell me. Right. Every time you put money into a, you get a paycheck or you get a gift or whatever it is put it you people put it into their checking account so they could get at it quickly but you want to automatically have 10% of the money you put in transfer to a high yield savings account okay you can find these high yield savings accounts on their websites nerd wallet.com or bankrate.com and that will pay you closer to three or four percent rather than one-tenth of one percent and why is it work to set it up automatic

Obviously, it's because you don't think it's gone. Right. You said it and forget it, is what we've been saying for 30 years. And the idea is that if it's done automatically, you barely even notice that it's happening. And, you know, because I've been doing this for 35 years, I meet people now in their like 50s and 60s and even early 70s. And they come over to me and they said, you know what, I read your book. You talked, when I was in my 20s, you talked about putting money a small amount away. I did it, now I have hundreds of thousands of dollars. I wouldn't have had otherwise.

Okay, so do you hear that, 20s and 30s? If you put a little bit away and we'll get into exactly investing, but you could potentially have hundreds of thousands of dollars. Do you know how many party drugs that buy? All right, so you're putting away money just a little bit, even 10%. It's not that much. Right. Where do you put it?

You talk about one of the, like, secrets. is S&P 500 or the stock market. Exactly. I don't know how to do that. Where do I, how do I access that? What do I do? So once you save about three to six months' worth in that high-yield savings account and stick with an FDIC insured bank, that's an important thing to do.

Once you do that, not your uncle. Not your uncle, not your cousin's broker's friend. Not Venmo's credit card, FDIC. Right. That money sitting near a Venmo account isn't getting interest. Right. So what you want to do is put that next amount, once you have that savings cushion, put it into an S&P 500 index fund, a low-cost one. Even Warren Buffett has come out and saying this is the place to put your money.

Because over long periods of time, it's been shown that these index funds, S&P 500 index funds, do better than the highly compensated private managers who manage money. So it's important to do this. And it's very, it's counterintuitive. because what often is the case is people say, no, you should do your research, do your homework, find the best stock, but that's actually risky to put your money into one stock. These S&P 500, this S&P 500 fund, it has 500 stocks.

So if some do poorly, others will do well. And the track record is, over long periods of time, it has beaten some professionally managed funds. How do you even get access to those? Right. Where do you go? And I believe it's pronounced Warren Buffet. Right.

She wrote a book, but she missed that one. How do you, how does someone get access to those funds? They're companies, and by the way, I don't get any kickbacks or money from anything that I recommend. Vanguard and Fidelity and Schwab offer great low-cost S&P 500 index funds. And by the way, just saying that, you know, 75% of young people get their financial advice from social media. Don't say that. We're talking to Instagram and TikTok.

And, you know, there's some good people out there giving decent, you know, good financial advice, but a lot of it is paid, sponsored, you know, and it's biased information, and they're telling you something that will enrich them and not enrich you. So it's very important to pay attention to that. Can you get into one of these with 100 bucks, 500 bucks? You don't need millions of dollars? No, you could actually go into something in them with as little as a dollar. There are these things called ETFs, but they're S&P 500 index.

Yes, so it's very easy to start. And again, doing it automatically, having it come out of your paycheck, before you know it, it does add up. Yep. Pay off your debt. Right. Automatically save some money. Right. Put it into investments, if you can.

And then what's kind of the last magic part of the recipe? Right. Waiting? No. Retirement accounts. Now, when you're a young person, you're like retirement, I have no money to, you know, pay my bills, how can I... But if you start a job and they have a 401k or you open a Roth IRA and one of those index funds we just talked about, that offers you tax-favored growth. And those plans grow exponentially quickly.

It's a very... It's like bad marketing. It shouldn't be called retirement accounts. They should be super smart investing accounts. I like that. Or like young men. Get on the big dick account. Perhaps.

I mean, that would have got me. Not that I needed to be in that account. Right, but it should, it is, the, the terminology is intimidating. And that's on purpose. It's what's helpful. It's a need to be this intimidating. It's so interesting because, again, doing this for so many years, you, banks, investment companies, I am convinced that the jargon, and they make it so complex,

that you're like, well, I guess I need you to help manage my money. Right. And the fact is, you don't need to be a brain surgeon to do this. It's so basic. Just get out of debt, start to save, begin to invest. And it really can make a difference in your life. Even if you're facing tough times right now, I do feel like these steps have helped people,

and they will continue to help people. There is a confidence and a deep breath that you can walk through life with. Right. know that you're going to be okay if there's a little something saved? Absolutely. And I think it's important to get over the hurdle of, I can't do this. Right.

And, you know, I mean, I have a cousin, I ask my husband if it's okay to say that. I have a cousin who has a PhD in biochemistry. Whatever. And I asked her about her mortgage, whatever. I asked her about her mortgage, she didn't know what the interest rate was. So really, really smart people often don't know much about their own money. And it shouldn't be intimidating. And I think if we teach it more in schools

and then we reinforce it and people understand it's not that difficult, I think that goes a long way. And to talk about it, you know, I remember my then-girlfriend and I, we were going away, we were boarding our dog, and the application on the dog boarder said, how much can we spend on your credit card before we call you in case of an emergency?

Right. So I was like, well, I'm curious what her answer is going to be. I know what my answer is going to be. So we both wrote it down. Oh, wow. I was at 80 bucks. You can spend $79 on my dog until you call me. Right.

My wife, now it was like $3,000. You know, and I'm like, oh, we need to talk about this. Yeah, yeah. I mean, people don't, you know, spenders, marry, savers. There's all kind of information that you want to talk about with someone. And it's still very awkward. I mean, young people are better about talking about it. And frankly, young people, the one thing I want to say is they're quite good at saving in retirement accounts,

these investment accounts, partly because now when you start a company, often you're automatically enrolled in that 401, which is great. But building awareness and making and demystifying it, I think is so important. One last thing that I want to mention before we take some staff questions. But I forgot about health insurance. Unfortunately, in this country, it can really f*** you up if you have a health problem and you don't have money saved. Absolutely.

Literally the first thing you say in here is you've got to get health insurance. Yeah. I mean, it can surprise people, especially young people. You're like, I'm in my 20s, I'm young, I'm healthy, you know, I'm not even that risky. And I probably could go without it, but you can't go without it because it's one of the major causes of, it's by Queen's accent, one of the major causes of financial bankruptcy. Right. And if you have some serious health issue or, you know, some of the major causes of, you know, some

accident, you will not only potentially bankrupt yourself, but possibly your family. So you need to get. The good news is if you're under age 26, you can be on your parents' plan if they have health insurance. And in some states like New York, up to age 30, you can be on your parents' plan if you don't get it from work, and you're single. You know, for all the 20-year-olds out there, I know you have a perfect body now, but things change. Thank you for coming to talk with us. This is a great book. It's everybody who's 20 and 30, put it in your backpack, read it on the train, read two pages at a time.

It'll help you. It'll help you in life. I was so excited to have you on, and I believe financial literacy is undertaught, misunderstood, and I was so excited that I said to our staff, what are your questions about finance and money? And look at all these that we got. Now, this is broke Daily Show staff questions, and here's one. Beth, I'm worried that AI is a giant stock market bubble that is getting ready to pop. How can I protect my investments when they're mostly in basic funds?

Right. Well, it's a great question. You can say it's a stupid question. No, it's a great question, and it's something we all know, but no one knows the answer to it. Right. So basically, the point is you want to not pay attention to that. honestly you want to say when you start with your investments you have your savings you have your index funds that we talked about let it keep growing because people sometimes panic and they say oh this terrible thing is going to

happen and nobody knows for sure and then you miss out on the growth of the market so I would say and also we know from research that people who try to time the market do worse so basically that is what she's so often you're saying like set up the systems and then get and then forget it alone leave it alone. Great. Love it. But is it true that paying your credit card bills on the due date increases your credit score? Is it better to pay earlier or closer to the due date? It doesn't matter. Just pay on time. Pay on time. Pay by the due date. Yeah. And that's a great question because there's a myth swirling around that, oh, if you pay off your bill in full, that it hurts your credit score.

That is not true. The best way to improve your credit score is pay off your bill in full every single month. You will not pay thousands of dollars in interest and you will have a good credit score. Love it. Love it. Love it. Love it. Is it better to keep the bulk of your savings in a high yield? This staff is smart. Is it better to keep the bulk of your savings in a high yield savings or count or should you invest in an index fund, which is safer and will it help grow more? And talk a little bit about the magic that is compound interest. Right. And what it is? Compound interest is when you have an investment and you get interest at the end of the year and then the next year that interest grows interest and then the interest grows interest on top of the interest and basically grows

exponentially quickly. So here's probably... It's like mold. It's like mold. But it's money. But it's money. It's much better than mold in that way. And what I love about it is that say you're 25 years old and you save $1,000 a year. You started age 25. That's not that much money. You can do that. That's not a lot. You stop at age 34, so you save for 10 years, $1,000 a year, and you never invest again. You just let it sit there. It earns 8%.

By the time you're 65, close to my age, you'd have $160,000. But wait, listen to this. If you wait until you're 35, so you don't save in your 20s, and you do that for your 30s, you save $1,000 a year through your 30s, 40s, 50s, so you're saving for 30 years, you'd have less money. You'd only have $120,000. Because those early years and having money compound for 40 years

is really, really powerful. This is great news for 20-year-olds, because right now it's this doom and gloom, the world is doomed, what's jobs, but if they can start saving now, they have a foot up. I love it. They have time on their side. That's the thing about being young.

You have time on your side. Yep. Time. Yep. Will I ever own a house? Is that your question? It wasn't my question. There's a lot of housing anxiety. There's a lot. Housing affordability is understandably. I mean, how, the typical house right now costs $430,000, and in big cities, it's much more than that.

That's what my coffee order was. The key is, first of all, you have to save up for a down payment. So for a $400,000 house, we're talking you have to save $40,000 to $80,000 because it's a 10 to $20,000. 20% down payment. But again, doing it automatically, thinking about it as this is a priority for me. I'm going to set up an account in a high-yield savings account. I know it'll be safe and that will be my housing account. It will take time, but it is something that is doable. And I think, again, I have a lot of hope for this generation because I feel like because there's so much attention to it that they're going to realize that there's things they can do to get to where they want to be.

And one thing I like about your book, and I'm like talking to you, is it does sound like you often are repeating yourself because it actually isn't as complicated as it's meant to be. I mean, hey off your debt, save some money, shut the fuck up, don't check it. Exactly. Yeah, all right, let's do a few more. This is fun. You guys enjoying this? Of course, you're all. Oof, my parents are getting older.

What are the important things to prepare for in terms of both long-term care? You're not a physician or a doctor. You don't have to answer that. And financial planning. It's a tough one, you know, and it is, and it's interesting because I'm hearing that question so much more from young people, much more than I did 20 or 30 years ago. That's such a more conscientious generation. Yes, they are. I never once thought about my parents' health when I was 25 years old.

It really is a sweet thing. It's very interesting. And I think broaching the topic, particularly if your parents are still in pretty good health and they're working, you know, asking questions. Well, how long do you think you'll stay in the house forever, or do you think you want to move? or that kind of thing, doing it gently and trying not to be judgmental as they maybe were when you're in high school, you know, trying to bring it to a level where let's just have this conversation. I think that more often than not the parents might be thinking they want to have this conversation too. So it's something that is important to do and ask a lot of questions.

Talk about it. Okay. Last one. Here we go. Okay. There's one in particular that I want. Yes, it is. Okay. Is the only way to have enough money for retirement to rob a bank? If so, are there banks with less security than others? Maybe TD or Wells Fargo. Any particular branches in the tri-state area you know of that may have obvious vulnerabilities? I prefer not to travel too far. That's a joke, but are some banks better than others?

We talked a little bit about FDIC. Right. FDIC insurance is really important. I mean, the answer, that's a great question, which bank? I mean, I generally recommend robbing a bank from home, doing it online. Hacking, hacking, yeah. But I think that you want to have your bank, you know, usually it's convenient for you or you have your money automatically put into this checking account, but then look for that

high-yield savings account. Often online banks have the best high-yield rates. What kind of numbers are we talking about for a high-yield savings? 3%, maybe 4%. And over years, that makes a difference. You know, getting paid one-tenth of 1% in a bank, bank savings account is ridiculous. So try to have it automatically transferred to a high-yield savings account. Awesome.

All right. Staff, thank you for the question. Staff. Thank you for paying attention. Thank you so much for talking with us. I so appreciate it. Get a financial life. It's available now.

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