How AI Could Reshape Healthcare, How the Wealthy Manage Money, and the Case for a Third Child

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0:01:18 Welcome to Office Hours of Prop G.
0:01:19 This is the part of the show
0:01:20 where we answer your questions
0:01:22 about business, big tech, entrepreneurship,
0:01:23 and whatever else is on your mind.
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0:01:44 Our first question comes from Karen Chan on Reddit.
0:01:45 Karen says,
0:01:45 Hi, Scott.
0:01:46 If a surge in unemployment
0:01:47 caused by AI were to occur,
0:01:49 what do you think the impact
0:01:50 on U.S. healthcare policy would be?
0:01:52 Since most working-age Americans
0:01:54 rely on employer-sponsored insurance,
0:01:56 widespread job losses
0:01:58 would mean millions losing their coverage.
0:02:00 That could create significant public pressure
0:02:01 for a public option.
0:02:01 What are your thoughts?
0:02:03 Okay, so
0:02:06 about half the population
0:02:08 get health insurance through an employer plan.
0:02:10 About 8% of Americans,
0:02:12 or 27 million people,
0:02:13 were uninsured in 2024,
0:02:15 according to the latest census data.
0:02:17 And premiums for employer plans
0:02:20 hit $26,000 a year for family coverage
0:02:22 in 2024, up 7%.
0:02:25 These plans always seem to go up
0:02:26 more than inflation.
0:02:26 Why?
0:02:28 Because they’re a fucking cartel.
0:02:29 with regulatory capture.
0:02:32 And so that’s faster than inflation
0:02:33 or wage growth.
0:02:35 Small firms are especially vulnerable.
0:02:39 Only about half offer benefits at all.
0:02:40 By the way, here at Proctergy,
0:02:42 we do offer health benefits.
0:02:44 The average worker still pays
0:02:46 19% of single-plan premiums
0:02:47 out-of-pocket.
0:02:48 Deductibles average about $1,800.
0:02:52 So it’s bad for the economy
0:02:53 because losing your job
0:02:55 oftentimes means losing health insurance.
0:02:56 You’re not able to allocate
0:02:57 your human capital
0:02:59 to where it would be best served,
0:03:00 entrepreneurship or moving
0:03:04 or taking time to care for a loved one
0:03:06 for fear that you will lose
0:03:09 your health insurance.
0:03:10 So if AI-driven unemployment
0:03:12 rose by five percentage points,
0:03:14 roughly 8 million people
0:03:15 would lose their coverage.
0:03:17 At least I think I’m doing the math right.
0:03:19 And about 3.5 million
0:03:21 would likely move to Medicaid
0:03:25 or ACA marketplaces.
0:03:26 And around 3 million people
0:03:27 would become uninsured,
0:03:28 at least temporarily.
0:03:29 By the way, the uninsured
0:03:31 are really fucking expensive
0:03:32 because when people lose insurance,
0:03:34 they don’t stop getting sick.
0:03:35 They just delay their care
0:03:36 until they’re in the emergency room,
0:03:38 oftentimes putting much more
0:03:40 of a burden on the healthcare system
0:03:42 than if they’d had health insurance.
0:03:44 And hospitals then shift
0:03:45 those unpaid costs
0:03:45 to everyone else
0:03:47 through higher premiums and fees,
0:03:48 driving up the overall
0:03:48 healthcare spending.
0:03:51 The result is a sicker population
0:03:52 and a more expensive,
0:03:53 less efficient system.
0:03:56 See above the American healthcare system
0:03:57 that spends $13,000 per capita.
0:04:00 And the other six of the G7
0:04:02 spend $6,500 for better outcomes.
0:04:05 Look, I think this is a bit
0:04:06 of a moot market.
0:04:08 I believe that.
0:04:10 So I’m coaching and I’m bragging
0:04:11 because I’m desperate
0:04:12 for your affirmation.
0:04:14 I’m coaching the Democratic Party
0:04:15 or some constituents,
0:04:15 including some people
0:04:16 running for president,
0:04:17 on messaging.
0:04:18 And I think it’s time
0:04:20 to move beyond the indignance
0:04:21 and the pearl clutching
0:04:22 and the outrage to ideas.
0:04:24 And one of the big ideas
0:04:26 I think the Democratic Party
0:04:27 or potentially the Republican Party
0:04:28 should embrace is the following.
0:04:31 Healthcare is not working
0:04:32 in the United States.
0:04:33 Or let me put it this way.
0:04:34 It’s like everything else in America.
0:04:35 It’s been optimized
0:04:36 for the top 10%.
0:04:38 If you’re in the top 10%
0:04:39 of income earning households
0:04:40 in America,
0:04:41 you have the best healthcare
0:04:41 in the world.
0:04:42 You have access
0:04:43 to the best doctors,
0:04:44 the best pharmaceuticals,
0:04:45 the best treatments.
0:04:48 People in the top 10%
0:04:49 on average live,
0:04:49 get this,
0:04:51 between 7 and 12 years longer
0:04:52 than people
0:04:53 in the bottom 10%.
0:04:55 Literally being wealthy
0:04:55 means you’re going to,
0:04:56 is life.
0:04:57 Money is life
0:04:57 in the U.S. now.
0:05:01 So we have this healthcare system
0:05:02 that’s been optimized
0:05:03 for the top 10
0:05:03 or the top 1%.
0:05:05 And I think the model
0:05:06 is the following.
0:05:07 And it’s the U.K. model.
0:05:08 And people don’t like
0:05:09 the NHS here.
0:05:10 And the reason why
0:05:11 is because it’s underfunded
0:05:12 because the U.K.
0:05:13 has not grown in 10 years.
0:05:14 There’s just not enough
0:05:15 money to go around.
0:05:16 They don’t have the resources.
0:05:16 That’s not the problem
0:05:17 in the U.S.
0:05:19 We’ve grown our economy,
0:05:19 I would bet,
0:05:20 by 30 or 40%
0:05:21 in the last 10 years.
0:05:22 So we have 30 or 40%
0:05:23 more money.
0:05:26 And we have the money.
0:05:26 The problem is
0:05:27 the prosperity
0:05:28 is similar to the future.
0:05:29 What William Gibson
0:05:30 described as the future
0:05:31 is here.
0:05:31 It’s just not
0:05:32 evenly distributed.
0:05:34 So what you have
0:05:35 with NHS is
0:05:36 it’s nationalized healthcare.
0:05:37 You get sick.
0:05:37 You go in.
0:05:38 You get treated.
0:05:39 You don’t get bills.
0:05:39 You find out
0:05:40 you have lung cancer.
0:05:41 It doesn’t also mean
0:05:42 you’re going to go bankrupt.
0:05:43 Now,
0:05:44 the wait times are longer.
0:05:46 People complain about it,
0:05:47 especially if it’s elective
0:05:48 or non-urgent surgery.
0:05:49 You have to wait too long.
0:05:49 It’s underfunded.
0:05:51 What I like about it
0:05:52 is that people like myself
0:05:53 who have some money
0:05:54 opt out and go private.
0:05:55 You think,
0:05:55 well,
0:05:56 that’s a douchebag,
0:05:56 rich thing.
0:05:57 No,
0:05:57 it’s not
0:05:59 because it takes
0:05:59 some burden
0:06:01 off the system.
0:06:02 And then they can offer
0:06:03 better services
0:06:05 to the bottom 90,
0:06:05 if you will.
0:06:06 In sum,
0:06:07 what needs to happen
0:06:08 in the U.S.,
0:06:08 I believe,
0:06:10 is that if you want
0:06:11 to have greater mobility,
0:06:13 we have to have
0:06:14 portable health insurance.
0:06:15 People shouldn’t
0:06:16 stay at their job
0:06:17 because they’re worried
0:06:18 that they have a melanoma
0:06:19 when they would be
0:06:19 better off
0:06:21 at another job.
0:06:22 Also,
0:06:23 it creates
0:06:25 greater pricing
0:06:25 because
0:06:27 the key to pricing
0:06:28 is to connect
0:06:29 the consumer
0:06:30 with price
0:06:31 and shop.
0:06:32 I never look
0:06:32 at the,
0:06:34 I literally
0:06:34 never look
0:06:35 at my insurance
0:06:36 or my medical
0:06:37 costs
0:06:37 because
0:06:38 if you have
0:06:39 health insurance
0:06:39 paid for you
0:06:40 by your employer,
0:06:41 you don’t give a shit
0:06:42 what that MRI costs.
0:06:43 You might have to go
0:06:44 through tons of hoops,
0:06:46 but you don’t care.
0:06:46 So you’re not
0:06:47 shopping around.
0:06:48 You’re not calling
0:06:49 around or going
0:06:50 on ChatGPT
0:06:50 to saying,
0:06:51 where can I get
0:06:52 the cheapest MRI
0:06:53 in Soho?
0:06:55 So we’ve disconnected
0:06:56 what is the key
0:06:57 to keeping prices down
0:06:58 and that is
0:06:58 consumer scrutiny
0:06:59 because if it’s
0:07:00 offered by your employer,
0:07:01 you don’t care.
0:07:01 You just go
0:07:02 wherever there’s
0:07:03 in-network.
0:07:04 There’s tons
0:07:04 of administration.
0:07:06 40 to 50%
0:07:07 of all health
0:07:08 insurance premiums
0:07:09 go to administration
0:07:10 and profits,
0:07:10 meaning that
0:07:11 if you spend
0:07:12 $100 on insurance,
0:07:13 you’re getting
0:07:14 50 to 60 bucks
0:07:15 of health care.
0:07:17 So what to do?
0:07:18 What to do?
0:07:19 I think we take
0:07:19 Medicare,
0:07:20 which by the way,
0:07:22 Medicare is the
0:07:23 health care programs
0:07:24 and services
0:07:25 offered to people
0:07:26 over the age of 65.
0:07:27 And guess what?
0:07:28 Unlike the rest
0:07:28 of health care,
0:07:29 it’s actually quite
0:07:30 popular.
0:07:31 And this is
0:07:31 what we do,
0:07:32 folks.
0:07:33 We lower
0:07:35 eligibility
0:07:36 for Medicare
0:07:38 by two years
0:07:39 every year
0:07:40 for the next 10 years.
0:07:40 Where does that get us?
0:07:42 Next year,
0:07:43 if you’re 63 or over,
0:07:44 you’re eligible
0:07:45 for Medicare.
0:07:46 If you want concierge
0:07:46 or high-end,
0:07:47 you go out of pocket,
0:07:47 fine,
0:07:48 rich people,
0:07:48 old people,
0:07:49 of which there’s a lot
0:07:50 less burden on the system,
0:07:51 good for you,
0:07:52 you get better service.
0:07:53 You can get your
0:07:55 colonoscopy the next day
0:07:55 if you want it
0:07:57 from a nicer facility
0:07:58 with better-looking people
0:07:59 wearing figs
0:07:59 instead of just
0:08:00 traditional scrubs,
0:08:00 fine,
0:08:01 have at it.
0:08:03 And then what do we have?
0:08:04 And then in two years,
0:08:06 the eligibility is 61.
0:08:07 And then in 10 years,
0:08:08 the eligibility is 45.
0:08:10 What is that effectively?
0:08:11 Socialized medicine.
0:08:12 Why?
0:08:13 Because the vast majority
0:08:15 of medical care costs
0:08:15 happen to people
0:08:16 over the age of 45.
0:08:17 Because guess what?
0:08:17 Young people,
0:08:19 unless they’re having a baby,
0:08:20 don’t need health care.
0:08:21 I think I went to the doctor
0:08:22 three times
0:08:23 before the age of 40.
0:08:25 Yeah, I said it.
0:08:26 Nationalized medicine.
0:08:27 It’s time, folks.
0:08:29 It’s time.
0:08:31 40% of America
0:08:32 has medical or dental debt.
0:08:33 You want to talk about
0:08:34 stress and anxiety
0:08:34 on a household?
0:08:36 I have to borrow money
0:08:38 so my 22-year-old daughter
0:08:40 can get a root canal,
0:08:42 can’t sleep at night,
0:08:43 is in screaming pain,
0:08:43 and we don’t have the money
0:08:44 for a root canal,
0:08:45 so we have to go into debt.
0:08:47 Can you imagine
0:08:48 how humiliating
0:08:49 and stressful that is
0:08:49 for people?
0:08:51 Almost half of households
0:08:52 have medical debt?
0:08:54 Enough already.
0:08:56 Lower Medicare eligibility
0:08:57 by two years,
0:08:58 every year for 10 years,
0:08:59 and then boom.
0:09:00 Better health care,
0:09:01 better pricing,
0:09:02 less stress,
0:09:03 less anxiety,
0:09:04 less debt,
0:09:05 a healthier America.
0:09:07 Thanks for the question.
0:09:09 Question number two
0:09:11 comes from Freda Blugs
0:09:12 on Reddit.
0:09:13 Okay, Freda.
0:09:13 They say,
0:09:14 Hi, Scott.
0:09:15 How does a high-net-worth
0:09:16 individual manage
0:09:16 their money
0:09:17 and their investments?
0:09:18 I can’t imagine
0:09:19 that you log into Fidelity
0:09:19 or Schwab
0:09:20 like the rest of us
0:09:22 to sell your covered calls,
0:09:23 or maybe you do.
0:09:24 Do you make sure
0:09:25 that credit cards
0:09:26 and rent are paid on time?
0:09:27 Out of pure nosiness,
0:09:29 can you allow us
0:09:30 to peek behind the curtain
0:09:31 of daily money management,
0:09:32 tracking your net worth,
0:09:34 and following your investments
0:09:36 at this different scale?
0:09:39 Okay, I try to be very transparent
0:09:42 about my wealth
0:09:45 and how I manage my money.
0:09:46 One is because I think
0:09:47 I’m a narcissist
0:09:48 and I want people to know
0:09:49 I’m successful.
0:09:50 I think some of that is there.
0:09:51 I think it makes me
0:09:52 more interesting to other men
0:09:54 and more attractive to women.
0:09:55 Is that wrong?
0:09:56 Is that wrong?
0:09:57 Anyways, it’s there.
0:09:58 But also,
0:10:00 I do think it’s important
0:10:01 to talk about money
0:10:03 and create financial literacy.
0:10:05 If you want to understand something,
0:10:06 you need to talk about it.
0:10:08 Talk to your friends
0:10:09 about taxes and investments
0:10:10 and diversification.
0:10:11 You need financial literacy.
0:10:13 You don’t think Roger Federer
0:10:14 thinks about and talks about tennis
0:10:15 all the fucking time?
0:10:16 How do you ever get good
0:10:18 at anything without talking about it
0:10:19 and thinking about it?
0:10:20 Okay, so
0:10:22 I have been wealthy three times,
0:10:24 which means I’ve gone broke twice.
0:10:26 And the primary learning for me
0:10:27 is that the reason
0:10:28 I went broke twice
0:10:30 is because I wasn’t diversified.
0:10:31 I grew up in an era
0:10:32 where VCs
0:10:34 and the media taught you,
0:10:35 you go all in on something.
0:10:36 And if you’re a real baller
0:10:37 and good at what you do,
0:10:38 as long as you throw yourself at it,
0:10:39 you’ll be really successful.
0:10:41 So I poured everything
0:10:43 into my first brand strategy firm,
0:10:44 Profit.
0:10:45 Then I poured everything
0:10:46 into my e-commerce company,
0:10:48 Red Envelope,
0:10:50 which went public in 2002.
0:10:51 And then I poured everything
0:10:51 into tech
0:10:53 because I was a genius.
0:10:54 And if I could throw myself
0:10:54 at everything
0:10:55 and your VCs are telling,
0:10:56 are you in it to win it?
0:10:57 Don’t sell shares in a company
0:10:58 even though I should have.
0:11:00 And what happens is,
0:11:01 is that as I got older,
0:11:03 I realized market dynamics
0:11:03 will always trump
0:11:04 individual performance.
0:11:05 It didn’t matter
0:11:05 how fucking smart
0:11:07 you were on the internet in 2000.
0:11:09 Amazon lost 90% of its value
0:11:10 between 99 and 2001.
0:11:11 And I didn’t learn that lesson.
0:11:13 And I was rich in 99,
0:11:15 broke by 2001.
0:11:17 I was rich again in 07,
0:11:18 broke by 2009.
0:11:20 I am not going back.
0:11:21 I’ve crawled my way back.
0:11:23 I’m now worth,
0:11:24 you know,
0:11:25 kind of low,
0:11:26 whatever,
0:11:27 nine figures.
0:11:30 And what I’ve decided,
0:11:31 the key attribute
0:11:32 is diversification.
0:11:33 And that is,
0:11:34 I try not to have
0:11:37 more than 5%
0:11:38 of my assets
0:11:39 in any one investment.
0:11:41 The exception is real estate.
0:11:41 My kind of general
0:11:42 investment strategy
0:11:43 is I believe,
0:11:44 I think of someone
0:11:45 who is a student
0:11:46 of demographics,
0:11:48 what I see
0:11:49 is that income inequality
0:11:50 is only going to get worse globally.
0:11:51 I think that America
0:11:53 is giving everyone
0:11:53 a hall pass
0:11:54 to be corrupt.
0:11:56 And for regulatory capture
0:11:57 and cronyism
0:11:58 and oligarchy,
0:11:59 meaning you’re going to have
0:12:01 the greatest boom
0:12:02 demographically
0:12:03 is going to be
0:12:04 an increase
0:12:05 in billionaires.
0:12:06 We’ve gone from 500
0:12:06 to 2,500
0:12:09 in the last 10 years.
0:12:09 I think we’re going to go
0:12:10 to 10 or 20,000.
0:12:11 And these people
0:12:12 all want to live
0:12:13 in one of the same five places,
0:12:14 Dubai, London,
0:12:15 Palm Beach,
0:12:15 New York,
0:12:16 or Aspen.
0:12:17 So I have bought homes
0:12:19 in each of those places
0:12:20 except for Dubai
0:12:21 and about two homes
0:12:22 in Aspen
0:12:24 and I’m fixing them up
0:12:24 and I think it’s good
0:12:25 intergenerational wealth.
0:12:26 It’s very tax-advantaged.
0:12:27 So I have a disproportionate
0:12:28 amount of my net worth
0:12:29 in what I’ll call
0:12:30 0.1% real estate.
0:12:31 Some of these places
0:12:32 I’ll live in for a couple years
0:12:33 but then I’m planning
0:12:34 to sell them
0:12:36 and then use our tax code
0:12:37 which disproportionately
0:12:38 advantages real estate
0:12:40 to roll into rentals
0:12:42 and create
0:12:43 intergenerational wealth.
0:12:44 And if one of my kids
0:12:45 is a total fuck-up,
0:12:46 as long as a good kid
0:12:46 he can bang on doors
0:12:47 for rent
0:12:48 and just try and,
0:12:48 I don’t know,
0:12:50 manage a mini-mall
0:12:51 with a Chipotle in it.
0:12:52 I don’t know,
0:12:53 I used to be one of those guys
0:12:54 like I’m going to pay for their college
0:12:55 and then they’re on their own
0:12:56 and now I see how hard it is
0:12:57 for young people
0:12:57 and I don’t know,
0:12:58 I’m kind of changing my tune.
0:12:59 Anyways,
0:12:59 now what you asked,
0:13:00 intergenerational wealth transfer.
0:13:02 So the key for me
0:13:03 is diversification.
0:13:05 I spend at least a day
0:13:06 to a day and a half
0:13:08 managing my money
0:13:09 and thinking about investments.
0:13:10 I have found
0:13:11 unless you’re all over it
0:13:12 all the time,
0:13:14 you’re going to lose money.
0:13:15 And that is
0:13:17 unless you’re all over,
0:13:19 Goldman Sachs manages my money,
0:13:20 I have a law firm
0:13:21 managing my taxes,
0:13:22 unless I’m constantly
0:13:23 asking them questions,
0:13:24 I find that stuff falls
0:13:25 in the cracks
0:13:26 and they will figure out
0:13:27 a way to jack up fees.
0:13:28 Generally speaking,
0:13:29 what you want
0:13:32 is low-cost index funds.
0:13:33 If you have access
0:13:33 like I do
0:13:34 to kind of
0:13:35 better deal flow
0:13:35 where you can get
0:13:36 additional equity
0:13:37 for going on the board
0:13:37 because they think
0:13:38 you’re smart,
0:13:38 fine,
0:13:39 have at it.
0:13:40 If not,
0:13:41 you want to be diversified
0:13:42 and you want to be
0:13:43 in low-cost index funds.
0:13:45 I have the ability
0:13:46 to hire really talented people.
0:13:47 I probably spend
0:13:49 $100,000 to $300,000 a year
0:13:50 just on the people
0:13:51 who manage my money.
0:13:52 Why?
0:13:53 Because the tax code’s
0:13:54 gone from 400 pages
0:13:55 to 4,000.
0:13:55 Why?
0:13:56 So that 3,600 pages
0:13:58 could fuck the middle class
0:13:59 and transfer money
0:13:59 to the wealthy
0:14:02 because if you’ve got GPS,
0:14:04 you want to run races at night
0:14:05 because the people
0:14:06 without GPS,
0:14:07 the bottom 99,
0:14:09 crash into the fucking rocks
0:14:09 and the rich people
0:14:10 just keep on cruising
0:14:11 because they’ve got
0:14:12 really smart tax lawyers
0:14:14 and Goldman Sachs
0:14:14 managing their money
0:14:15 and finding the lowest
0:14:17 interest rates on things,
0:14:18 charging the lowest fees,
0:14:19 figuring out ways
0:14:20 how many days
0:14:22 I should be in Florida
0:14:23 or not be in Florida
0:14:24 such that I have lower taxes,
0:14:25 all that shit, right?
0:14:27 All of these things
0:14:28 I leverage.
0:14:28 One,
0:14:29 because I have the capital,
0:14:29 but two,
0:14:31 I am thinking about it
0:14:33 all the goddamn time.
0:14:34 Keep track
0:14:35 on what you’re spending.
0:14:37 A lot of it’s just this one.
0:14:37 What’s the algebra of wealth?
0:14:38 I’ll go to my book.
0:14:40 You got to focus
0:14:41 and get good at something,
0:14:42 right?
0:14:43 Specialist economy.
0:14:44 Get really good at something.
0:14:45 Find something you’d be
0:14:46 in the top 10 or 1% in.
0:14:47 It’s probably not a vanity industry.
0:14:50 They’d be in the top 1% of acting.
0:14:52 You got to be fucking Meryl Streep,
0:14:52 right?
0:14:53 It’s just very difficult.
0:14:55 And then apply some stoicism
0:14:56 and some discipline.
0:14:59 Get used to spending less than you make.
0:15:01 Start saving from an early age.
0:15:02 Even if it means getting money
0:15:04 taken out of your paycheck.
0:15:05 Try and find tax advantage
0:15:06 or matching things.
0:15:07 Any matching thing,
0:15:07 your employer,
0:15:08 max it out.
0:15:10 Find out wherever you live,
0:15:10 what are some tax advantage
0:15:11 savings vehicles.
0:15:12 Max it out.
0:15:13 Try and find savings
0:15:15 or investment vehicles
0:15:16 where it’s taken out of your check
0:15:16 because most of us
0:15:17 don’t have the discipline
0:15:18 not to spend money
0:15:19 once it comes into our hands.
0:15:21 So that’s sort of stoicism.
0:15:22 The next is time.
0:15:24 Start early.
0:15:25 Recognize a little bit of money
0:15:25 every month.
0:15:26 Discipline.
0:15:27 That’s why buying a house
0:15:27 is so powerful.
0:15:29 It’s not because it outperforms
0:15:30 other asset classes,
0:15:31 but it’s for savings.
0:15:32 And then also the power
0:15:33 of diversification.
0:15:35 Focus equals the product
0:15:38 of stoicism and discipline,
0:15:38 right?
0:15:40 Time, right?
0:15:42 And then diversification.
0:15:43 Whoo!
0:15:46 That was a tour around the world.
0:15:47 Anyways, thanks for the question.
0:15:50 We’ll be right back
0:15:51 after a quick break.
0:15:58 Support for the show
0:15:59 comes from Brex.
0:15:59 These days,
0:16:00 every business leader
0:16:01 is under pressure
0:16:01 to save money,
0:16:02 but you can’t crush
0:16:03 the competition
0:16:04 just by cutting costs.
0:16:04 To win,
0:16:06 you need to spend smarter
0:16:07 and move faster.
0:16:08 You need Brex.
0:16:09 Brex is the intelligent
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0:16:19 Join the 30,000 companies
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0:16:33 We say this all the time
0:16:33 on our show,
0:16:34 but it bears repeating.
0:16:35 Running a small business
0:16:37 isn’t just a full-time job,
0:16:38 it’s about a dozen
0:16:38 full-time jobs
0:16:39 that you rarely,
0:16:40 if ever,
0:16:41 get to clock out of,
0:16:42 at least until you get
0:16:43 to the point
0:16:43 where you can start
0:16:44 hiring the dream team.
0:16:45 And if you’ve made it that far,
0:16:46 you already know
0:16:47 there’s no time
0:16:47 to mess around.
0:16:48 That’s where
0:16:50 LinkedIn Jobs comes in.
0:16:51 LinkedIn makes it easy
0:16:52 to post your job for free,
0:16:53 share with your network,
0:16:54 and get qualified candidates
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0:16:56 all in one place.
0:16:58 And LinkedIn’s new AI feature
0:16:58 can even help you
0:16:59 write job descriptions
0:17:00 and then quickly get it
0:17:01 in front of the right people
0:17:02 with deep candidate insights.
0:17:04 And if you decide
0:17:04 you want to go the extra mile
0:17:05 to find the perfect candidate,
0:17:06 LinkedIn says that
0:17:07 promoted jobs get
0:17:08 three times the number
0:17:09 of qualified applicants.
0:17:10 It’s all these little things
0:17:11 that let you find help
0:17:13 fast without compromising
0:17:13 on quality,
0:17:15 which add up to you
0:17:16 finally having extra time
0:17:17 in the day for,
0:17:17 I don’t know,
0:17:18 relaxing.
0:17:19 Or,
0:17:20 knowing my listeners,
0:17:21 you’ll probably use
0:17:21 that extra time
0:17:22 to expand your empire
0:17:23 even further.
0:17:25 Post your job for free
0:17:27 at linkedin.com slash prof.
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0:17:40 Nobody knows what’s going
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0:17:42 That’s why when it comes
0:17:43 to saving and investing,
0:17:44 it helps to have
0:17:45 a long-term approach
0:17:46 and a plan you can stick to.
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0:17:49 it’s easy to make hasty decisions
0:17:50 that could potentially
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0:18:33 Investing involves risk,
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0:18:43 Welcome back
0:18:44 onto our final question.
0:18:47 Hi, Prof G.
0:18:49 Hannah from Georgia here.
0:18:50 How do you recommend
0:18:51 a couple decide
0:18:52 how many kids to have,
0:18:53 especially when partners
0:18:54 want different things?
0:18:55 You’ve mentioned
0:18:56 on a few episodes
0:18:57 that you wish you’ve had
0:18:58 a third child.
0:18:59 I’d love to hear
0:19:00 your perspective
0:19:00 on how to navigate
0:19:01 this decision.
0:19:03 For context,
0:19:04 my husband and I
0:19:04 have two boys,
0:19:06 ages three and one.
0:19:07 I’m incredibly grateful
0:19:08 and feel content
0:19:09 with two kids,
0:19:10 but I’m also exhausted.
0:19:12 My husband, meanwhile,
0:19:13 really wants a third.
0:19:14 I’m 36,
0:19:15 so time isn’t
0:19:17 exactly on my side.
0:19:18 Career-wise,
0:19:19 I was on a strong trajectory
0:19:20 pre-kids
0:19:21 and a high-paying,
0:19:22 high-growth career.
0:19:24 After our first,
0:19:25 I shifted to a more
0:19:25 flexible,
0:19:26 lower-growth role.
0:19:28 It still pays well,
0:19:28 but doesn’t feel
0:19:29 fulfilling long-term.
0:19:31 Lately,
0:19:32 I’ve felt a strong pull
0:19:33 towards entrepreneurship
0:19:34 and am ready to leave
0:19:35 my comfortable
0:19:35 corporate job.
0:19:37 But a third child
0:19:38 would likely delay
0:19:38 this dream
0:19:39 by several years.
0:19:41 My husband is in
0:19:41 the military
0:19:42 and plans to retire
0:19:43 in about 10 years,
0:19:44 which adds another
0:19:45 layer of complexity.
0:19:47 A large part of me
0:19:47 feels guilty
0:19:48 for not wanting
0:19:49 to give him
0:19:50 something he so
0:19:50 deeply desires.
0:19:52 I know that’s
0:19:53 a lot of context,
0:19:54 but I really value
0:19:54 your opinion.
0:19:56 Thanks for the
0:19:56 thoughtful advice
0:19:57 each week.
0:19:58 I never miss an episode
0:19:59 of Office Hours.
0:20:00 I think this may
0:20:01 be one of my
0:20:01 favorite questions
0:20:02 ever,
0:20:03 Hannah from Georgia.
0:20:04 One,
0:20:06 for a weird reason.
0:20:08 I’ve never related
0:20:09 more to a question
0:20:12 and never known
0:20:14 less what to tell you.
0:20:18 These decisions
0:20:20 are so deeply personal
0:20:22 and I wouldn’t trust
0:20:23 anyone that’s like,
0:20:24 go for it
0:20:24 or don’t do it.
0:20:26 I’ll tell you
0:20:27 what we went through.
0:20:29 We have two kids
0:20:32 and I never wanted kids.
0:20:34 I was very selfish.
0:20:35 I loved going to brunch
0:20:36 when I wanted to go
0:20:36 to brunch,
0:20:37 going to Equinox
0:20:38 when I wanted to go
0:20:38 to Equinox,
0:20:39 taking off for St.
0:20:40 Bart’s when a friend
0:20:41 said,
0:20:41 hey, let’s go
0:20:41 to St.
0:20:42 Bart’s.
0:20:44 and then I had kids
0:20:45 and it’s not like
0:20:46 there was bright lights
0:20:47 and angels speaking.
0:20:48 I was mostly just
0:20:49 really fucking nauseous
0:20:49 because I was worried
0:20:50 about money
0:20:52 but kind of,
0:20:54 you know,
0:20:56 15 and 18 years on,
0:20:57 it’s my purpose.
0:20:59 I’ve never had purpose
0:20:59 in my life
0:21:00 or I thought
0:21:01 I had goals.
0:21:02 I wanted to be rich.
0:21:03 I wanted to be awesome
0:21:04 but I never really felt
0:21:05 like I had purpose.
0:21:07 I now have purpose.
0:21:08 My purpose is to raise
0:21:09 two good men.
0:21:11 It is the greatest source
0:21:12 of joy and contentment.
0:21:13 I will ever discover,
0:21:15 not to sound too macabre
0:21:17 but I think about death a lot.
0:21:19 One of the comforting things
0:21:20 about death for me
0:21:22 is that because my partner
0:21:23 is 14 years younger than me,
0:21:26 knowing that I’ll go first,
0:21:28 that gives me comfort.
0:21:32 I never feel more relaxed
0:21:33 than when I’m up late
0:21:34 with my dogs
0:21:35 and I know my kids are safe
0:21:37 and I know my partner’s happy
0:21:38 and they’re taken care of
0:21:38 and they’re warm
0:21:39 and looked after.
0:21:40 That is the only time
0:21:41 in my life
0:21:42 where a box has been checked
0:21:43 in indelible ink,
0:21:45 not a pencil
0:21:46 where I want better colors
0:21:47 or bigger colors.
0:21:48 Anyways,
0:21:50 we had two.
0:21:52 I didn’t want the first one.
0:21:54 My partner said,
0:21:55 I want to have kids.
0:21:56 I said,
0:21:56 I’m not getting married.
0:21:57 She said,
0:21:57 we don’t need to get married.
0:21:58 She called my bluff.
0:21:59 Had kids.
0:22:00 I literally basically looked at her
0:22:01 and she was pregnant.
0:22:02 Had a second one
0:22:06 and she wanted a third
0:22:08 and I was so freaked out
0:22:09 about money and logistics
0:22:11 and it was hard
0:22:11 and I,
0:22:12 you know,
0:22:14 she didn’t feel tired.
0:22:15 I felt tired.
0:22:17 Having two young kids,
0:22:18 boys in Manhattan,
0:22:19 always having their hands
0:22:19 for fear they’re going
0:22:20 to run out in the street.
0:22:21 Also,
0:22:22 our boys,
0:22:23 you know,
0:22:24 they’re not without their issues,
0:22:25 but on the whole,
0:22:26 they’re super healthy,
0:22:26 happy,
0:22:27 and like wonderful
0:22:29 boys slash young men
0:22:32 and I know a lot of people
0:22:33 who have kids who struggle,
0:22:34 you know,
0:22:36 name the acronym ADHD
0:22:37 or whatever it is,
0:22:38 learning disabilities,
0:22:39 health issues,
0:22:41 and it brings the house down
0:22:43 and I thought,
0:22:44 let’s cash out.
0:22:45 We have two that are great.
0:22:47 I don’t want to have a third
0:22:48 because I’m worried
0:22:49 we’re going to,
0:22:50 we’re pushing our luck.
0:22:52 Having said that,
0:22:53 my biggest regret,
0:22:56 my biggest regret now
0:22:57 and I,
0:22:59 and I’m scared
0:23:00 to say this out loud
0:23:01 because my partner
0:23:02 just gets infuriated
0:23:03 when I say this now
0:23:05 is that we didn’t have a third.
0:23:07 Specifically,
0:23:09 I would just kill
0:23:10 to have a little girl
0:23:11 and as I’ve gotten older
0:23:13 and I see not the end,
0:23:15 but I see myself getting older,
0:23:16 I would just kill
0:23:18 to have a little girl.
0:23:20 I feel like there’s this
0:23:23 weird void in our household
0:23:24 now that our two boys,
0:23:25 my 18-year-old’s
0:23:25 applying to college,
0:23:26 our 15-year-old
0:23:30 is really into his friends
0:23:31 and I feel like
0:23:32 there just needs
0:23:33 to be another kid
0:23:34 in the house.
0:23:35 So, hands down,
0:23:36 my biggest regret
0:23:37 not having a third.
0:23:39 Having said that,
0:23:39 a lot of this
0:23:40 comes down to money,
0:23:42 comes down to support system
0:23:45 and the only thing
0:23:46 I would say is that,
0:23:48 and again,
0:23:49 my bias is coming out here,
0:23:51 the only thing I would say
0:23:52 is that having kids
0:23:53 early,
0:23:54 you know,
0:23:54 giving birth.
0:23:55 By the way,
0:23:57 you said you’re 37,
0:23:58 that’s still really young.
0:23:59 If you’re in decent shape
0:24:00 with today’s technology,
0:24:01 that’s not,
0:24:03 that’s still in this day and age
0:24:05 kind of fertility year,
0:24:05 so I wouldn’t let that
0:24:06 get in the way.
0:24:07 Having said that,
0:24:09 women bear a disproportionate
0:24:10 amount of the responsibility.
0:24:11 They just do.
0:24:13 What I would say is,
0:24:15 no doubt about it,
0:24:15 it’s a pain,
0:24:16 it’s hard,
0:24:17 especially with babies,
0:24:21 but I find as they get older,
0:24:22 it gets easier,
0:24:22 it gets funner.
0:24:25 It’s like making that sacrifice now
0:24:28 for future reward.
0:24:29 But I like the idea
0:24:30 of sitting down
0:24:32 and from a position
0:24:33 of generosity saying,
0:24:34 your happiness
0:24:35 is really important to me.
0:24:36 These are my concerns.
0:24:38 How important is this to you?
0:24:41 let’s talk about the logistics,
0:24:42 but also looking at
0:24:43 through the lens
0:24:44 of how you’ll think about things
0:24:45 in 10 or 15 years
0:24:47 because that 10 or 15 years
0:24:50 is going to be here
0:24:52 in a instant.
0:24:53 Literally yesterday,
0:24:55 my oldest was coming into bed
0:24:56 with me on Sunday mornings
0:24:58 and snuggling with me
0:25:00 for 10 or 15 minutes
0:25:01 and then sitting up
0:25:01 and saying,
0:25:03 let’s make a plan.
0:25:04 I mean,
0:25:05 it was like there was
0:25:07 a Hallmark movie.
0:25:08 I’m like,
0:25:08 where are the cameras?
0:25:09 And then yesterday,
0:25:11 I’m arguing with him
0:25:13 about him taking the ACT
0:25:15 for his college apps
0:25:17 and he’s just rolling his eyes
0:25:18 and like trying to avoid me
0:25:19 around the house.
0:25:20 It was yesterday.
0:25:22 He was saying,
0:25:22 dad,
0:25:23 let’s make a plan.
0:25:25 It goes really fast.
0:25:26 Again,
0:25:28 hugely personal decisions.
0:25:30 But the fact that you’re
0:25:31 with a loving partner,
0:25:32 you have two healthy kids
0:25:34 and you’re,
0:25:35 an issue right now
0:25:36 is whether you have three
0:25:37 or you just stick with two
0:25:38 and you both
0:25:40 have jobs
0:25:41 and what sounds like
0:25:41 healthy careers,
0:25:42 you are,
0:25:44 your problems
0:25:45 are a function of you
0:25:46 being in the most fortunate
0:25:47 99%
0:25:49 and the most fortunate
0:25:51 99.5%.
0:25:53 Well done.
0:25:54 Congratulations to you
0:25:55 and I trust that you’re
0:25:56 in these conversations
0:25:57 taking pause
0:25:58 to realize how lucky you are
0:25:59 to be thinking this way
0:26:00 about a loving partner
0:26:01 and having a healthy family
0:26:01 and children
0:26:04 and just being in a position
0:26:05 to be considering
0:26:06 a third.
0:26:07 such a,
0:26:08 such a nice place
0:26:09 to be in.
0:26:10 Thanks for the question.
0:26:13 That’s all for this episode.
0:26:15 If you’d like to submit a question,
0:26:16 please email a voice recording
0:26:17 to officehours
0:26:18 at propgmedia.com.
0:26:18 Again,
0:26:19 that’s officehours
0:26:21 at propgmedia.com
0:26:22 or if you prefer
0:26:23 to ask on Reddit,
0:26:24 just post your question
0:26:25 on the Scott Gallery subreddit
0:26:27 and we just might feature it
0:26:28 in an upcoming episode.
0:26:31 This episode was produced
0:26:33 by Jennifer Sanchez.
0:26:33 Our assistant producer
0:26:34 is Laura Janair.
0:26:35 Drew Burrows
0:26:36 is our technical director.
0:26:37 Thank you for listening
0:26:38 to the PropG Pod
0:26:38 from PropG Media.