Trogonomics

We jump into our final episode of Season 2 by talking about the home stretch of savings. Once your Champagne Glasses of Savings are set and filling up, what do you do with any additional income as you are getting closer to retirement. Brett starts off by offering an Economic Confession to Trog, and the two of them discuss some of the riskier parts of investing. Trog then walks us through the different options of trading, investing, and experimenting with the market and money before finally landing on Index Funds! **This is not financial advice. The expressed opinions in the podcast are those of the speakers. You can lose all your money in the various investment options discussed, the cryptocurrency market, the stock and bond markets, or any number of financial investments, so be sure to do your own research before investing.** Thank you for listening! Please subscribe, share the episode with a friend and, leave a review to let us know what you think! Enjoy the episode! Thanks for listening - have a great day!!

We jump into a new episode of Season 2 by talking about navigating benefit options when starting a new job. Brett recently started a new job at a new company, and went through the process of selecting healthcare options, planning retirement contributions, and deciding on new insurance packages. This was the first time Brett had gone through this process, given his career as an entrepreneur all of his adult life and Trog guides him through his decisions, edits, and thought process. Starting a new job is exciting, but some of the decisions that are made at the start of a journey with a new company can be overwhelming. Trog helps identify the north stars to follow, and how to think about future finances without too much emotion. **This is not financial advice. The expressed opinions in the podcast are those of the speakers. You can lose all your money in the various investment options discussed, the cryptocurrency market, the stock and bond markets, or any number of financial investments, so be sure to do your own research before investing.** Thank you for listening! Please subscribe, share the episode with a friend and, leave a review to let us know what you think! Enjoy the episode! Thanks for listening - have a great day!!

On this episode of Porch Beers, Brett asks Dr. Trogdon about inflation, what does the increase mean in macro terms, and how do we evolve to stay steady during economic changes. The conversation was tipped off by the October 2021 inflation rate breaking 6%, after a fairly long run between 1% and 3%. Trog breaks down what the number really means in a theoretical and practical sense, and then walks us through consumption and saving thoughts to make sure that we don't loose ground on our goals. Along the way, Trog talks about negotiating your salary while exploring the job market, and why we should probably do a follow up episode in a few months to check in on the staying power of inflation. Porch Beers is a series of casual episodes, where Brett asks Trog a question or two cold, that he hasn't heard prior to the conversation. Like most conversations they have over a beverage, Trog doesn't know what will be asked of him at the time. His vast expertise of finance and economic theory is put to the test when he's asked for advice or clarity on the topics discussed. In today's episode we stick to one specific, financial topic: Inflation. **This is not financial advice. The expressed opinions in the podcast are those of the speakers. You can lose all your money in the various investment options available to you, the cryptocurrency market, the stock markets, or any number of financial investments, so be sure to do your own research before investing.** Thank you for listening! Please subscribe, share the episode with a friend and, leave a review to let us know what you think! Have a wonderful day!

We continue into the third leg of episode 2 talking about equity, (aka stocks) and longer-term savings. Trog outlines the options for 20-40 year savings plans, and how he thinks about diversifying this champagne glass of the savings pyramid. Along the way he'll talk about minimizing risk in this area of savings by buying into larger funds rather than individual stocks, how he qualifies the idea of "missed opportunity" , and reaffirms that at the end of the in order to buy a stock someone else must be interested in selling it to you. Brett and Trog walk their way through the idea of dividends versus retained earnings, and what the stock price really means as a result. **This is not financial advice. The expressed opinions in the podcast are those of the speakers. You can lose all your money in the various investment options discussed, the cryptocurrency market, the stock and bond markets, or any number of financial investments, so be sure to do your own research before investing.** Thank you for listening! Please subscribe, share the episode with a friend and, leave a review to let us know what you think! Enjoy the episode! Thanks for listening - have a great day!!

On this episode of Porch Beers, Brett asks Dr. Trogdon about investing in another human's future earning potential. The conversation was tipped off by Brett learning about a company called Big League Advance (which invests in some minor league baseball players), but snowballed into the larger idea of venture capital and investing in people versus companies. Trog talks about comparable industries that are also investing in a person's future earning other than just baseball, the concept of risk, and income smoothing over your lifetime. Along the way, Trog talks about trusting adults to make good financial decisions in the short and long term. He also breaks down the ethical side of companies and governments lending or investing in people. Porch Beers is a series of casual episodes, where Brett asks Trog a question or two cold, that he hasn't heard prior to the conversation. Like most conversations they have over a beverage, Trog doesn't know what will be asked of him at the time. His vast expertise of finance and economic theory is put to the test when he's asked for advice or clarity on the topics discussed. In today's episode we stick to one specific, financial topic: would you invest or accept an investment in your future earnings. **This is not financial advice. The expressed opinions in the podcast are those of the speakers. You can lose all your money in the various investment options discussed, the cryptocurrency market, the stock markets, or any number of financial investments, so be sure to do your own research before investing.** Thank you for listening! Please subscribe, share the episode with a friend and, leave a review to let us know what you think! Have a wonderful day!

We continue into the second leg of episode 2 talking about bonds, fixed income loans, and medium-term savings. Trog outlines the options for 2-10 year savings plans, and how he thinks about diversifying this champagne glass of the savings pyramid. Along the way he'll talk about risk in this area of savings (like a government declaring bankruptcy), how he intends to lower the risk of default, and reaffirms that at the end of the day bonds are loans. Brett and Trog walk their way through the idea of loaning money to friends or a government, and being prepared for the risk and uncertainty of being a lender. Part three is still to come in our savings adventure, where we'll cover the long-term champagne glass(es) of savings, and experiment with risk and time to make the most of our opportunities. Enjoy the episode! Thanks for listening - have a great day!! **Please subscribe, rate, and leave a review to let us know what you think of the episode!**

On this episode of Porch Beers, Brett asks Dr. Trogdon why money is so hard, when is it easy, and how can we better understand how to navigate capitalism in today's world.  Capitalism, Marxism, and the Ghost of Ayn Rand take turns slow dancing around this conversation and Trog tries to unpack what it means to participate in our economy today.  The topic of income inequality resurfaces and Trog talks about whether or not it always exists in capitalism, while Brett asks why it's harder to move up the financial ladder in capitalism versus status quo.  Along the way, Trog reminds Brett that even though money tends to be hard in real life, it's actually very simple in the abstract, where Brett prefers to live anyway! Porch Beers is a series of casual episodes, where Brett asks Trog a question or two cold, that he hasn't heard prior to the conversation.  Like most conversations they have over a beverage, Trog doesn't know what will be asked of him at the time.  His vast expertise of finance and economic theory is put to the test when he's asked for advice or clarity on the topics discussed.  In today's episode we stick to one large, abstract topic: Why is Money Hard? (...and more specifically, will it ever not be hard?) Thank you for listening!  Please subscribe, share the episode with a friend and, leave a review to let us know what you think! Have a wonderful day!

We kick off the first part of episode 2 talking about emergency funds and cash savings. Trog outlines the options for cash and equivalents, and how he thinks about diversifying this champagne glass of savings. Along the way he'll talk about risk in this area of savings, and his what he learned about savings from his financial influences. They walk their way through the idea of winning by being prepared rather than mixing in risk and uncertainty. Parts two and three are still to come in our savings adventure, where we'll cover other critical champagne glasses of savings, and experiment with risk and time to make the most of our opportunities. Enjoy the episode! Thanks for listening - have a great day!! **Please subscribe, rate, and leave a review to let us know what you think of the episode!**

On this episode of Porch Beers, Dr. Trogdon walks us through the agent vs. principle business models through the lens of the Wu Tang Clan and U2. Despite both groups having immense musical and financial success, they follow two different business models, where one pays their manager a fee and the other offers equity in the whole business. The topic unpacks the true question at the heart of the issue of would you give up equity in your financial future in exchange for a (hopefully) highly engaged business partner... or do you go on your own? Along the way Trog brings up the Coase Theorem and the concept of property rights, the future value of equity versus the present value of a commission, and the complexity of human beings and risk. Porch Beers is a series of casual episodes, where Brett asks Trog a question or two cold, that he hasn't heard prior to the conversation. Like most conversations they have over a beverage, Trog doesn't know what will be asked of him at the time. His vast expertise of finance and economic theory is put to the test when he's asked for advice or clarity on the topics discussed. In today's episode we stick to one topic, and walk through understanding the some of the why or why nots of giving up equity in your business, and ultimately if it's possible to predict the future. Thank you for listening! Please subscribe, share the episode with a friend and, leave a review to let us know what you think! Have a wonderful day!

Welcome to Season 2 of Trogonomics! This season we will be diving into some of Dr. Trogdon's saving practices and how he approaches short, medium, and long term savings goals. We kick off our first episode of the season outlining a Short Term Saving plan for a family vacation. Trog outlines the four steps to how he thinks about savings and how he calculates his contributions to meet his goal. Along the way he'll graciously admit to how difficult starting the saving process is, how easy consumption is, why Ariana Grande challenges him for the financial mindshare of his children, and at the end of the day all he really wants is sand between his toes and time with his family. Brett once again brings up the emotional side of managing money and how he wants to "win" at saving for a vacation. They walk their way through planning out a two year savings plan for a very healthy vacation budget, and start to dabble in and compare the process to saving for retirement. Enjoy the episode! Thanks for listening - have a great day!! **Please subscribe, rate, and leave a review to let us know what you think of the episode!**

On this episode of Porch Beers, Dr. Trogdon walks us through his economic advice to President Biden and Vice-President Harris for the first 100 days of their administration as well as four to eight year plans. The specific damage to the economy caused by the COVID-19 virus, as well as the previous administration's selective economic policy choices that supported only a small percent of the population have left a lot of work to be done to restore the economic health of our country. The conversation veers off of the COVID related impact to the economy mid-way through the episode to the subject of the wealth gap in the USA and areas where thoughtful economic policy could help narrow distance between the wealthy and poorer communities. Porch Beers is a series of casual episodes, where Brett asks Trog a question or two cold, that he hasn't heard prior to the conversation. Like most conversations they have over a beer, Trog doesn't know what will be asked of him at the time. His vast expertise of finance is put to the test when he's asked for advice or clarity on the topics discussed. In today's episode we stick to one (heavier) topic, and slowly walk through understanding the some of the challenges our fellow citizens face economically, and what could lead to a brighter future for all of the population. Thank you for listening! Please subscribe, share the episode with a friend and, leave a review to let us know what you think! Have a wonderful day!

**As we start out 2021 with a fresh perspective and a new economy, it's a great time to setup or edit your monthly personal budget. This is a replay of the Season 1 episode where Trog explains his monthly and annual approach to personal budgeting. You can download an excel template of the budget on Trogonomics.com** // Trog walks Brett through his monthly financial plan and review that he uses with his family. He discusses how he and his family came up with their collective goals, how they manage each and every expense, and how they review the info each month. After listening to this episode, you can use the data and spreadsheet on Trogonomics.com to start your own monthly financial planning. Enjoy the episode! Thanks for listening - have a great day!! **Please subscribe, rate, and leave a review to let us know what you think of the episode!**

On this episode of Porch Beers, Dr. Trogdon walks us through the current state of the economy, and the impact and changes due to the COVID-19 pandemic. Beginning as early as March of 2020, the velocity of money within the economic system started to slow and stall at unprecedented rates. Unemployment dramatically increased, and certain industries were changed for ever. Trog takes his time explaining the various changes the economy incurred, as well as what the impact means for the future. He then looks forward to the coming months in 2021 to share his thoughts on what economic recovery and rehabilitation means for the world. Finally, in an expected turn, Brett starts talking about the changes to retail and what the future may look like for restaurants, events, and specialty retail in the future. Porch Beers is a series of casual episodes, where Brett asks Trog a question or two cold, that he hasn't heard prior to the conversation. Like most conversations they have over a beer, Trog doesn't know what will be asked of him at the time. His vast expertise of finance is put to the test when he's asked for advice or clarity on the topics we discuss. In today's episode we stick to one (tough) topic, and slowly walk through understanding the larger impact of the COVID-19 pandemic on the global economy. Thanks for listening! Please subscribe, share the episode with a friend and, leave a review to let us know what you think! Have a wonderful day!

On this episode of Porch Beers, Dr. Trogdon walks us through his thoughts and action plan when taking in a new family member. Taking in and caring for an elderly parent or a child whose parents have passed away brings up several questions and financial forks in the road, and Trog helps us understand how he would traverse this new normal. What is step one? What is step two? What if you make all of the financial edits that you can, and it still isn't enough to cover your financial plan within your timeline? What are all the things that you'll need to do to support all of the members of your family? Porch Beers is a series of casual episodes, where Brett asks Trog a question or two cold, that he hasn't heard prior to the conversation. Like most conversations they have over a beer, Trog doesn't know what will be asked of him at the time. His vast expertise of finance is put to the test when he's asked for advice or clarity on the topics we discuss. In today's episode we stick to one (tough) question, and slowly walk through welcoming a new member of the family, helping them settle in, and planning for everyone's financial future. Thanks for listening! Please subscribe, share the episode with a friend and, leave a review to let us know what you think! Have a wonderful day!

On this episode of Porch Beers, Dr. Trogdon discusses how you should think about selecting your financial mentors more like a board of directors. He guides us to think deeply about what we want financially in life and how to read between the lines when seeking out others for advice. He'll also talk about some of the economic policy decisions of late that he likes and doesn't like, when taking into consideration the health of the entire economy and population. Do the positives outweigh the negatives when it comes to free trade and the Affordable Care Act? Porch Beers is a series of casual episodes, where Brett asks Trog questions cold, that he hasn't heard prior to the conversation. Like most conversations they have over a beer, Trog doesn't know what will be asked of him at the time. His vast expertise of the economy is put to the test when he's asked for advice or clarity on the various topics we discuss. Thanks for listening! Please subscribe, leave a review and let us know what you think! Have a wonderful day!

On this episode of Porch Beers, Dr. Trogdon shares his favorite sources of new information about money and personal finance. What podcasts or blogs does he like to follow to keep up to date with modern money and personal planning. Then the conversation shifts to Capital Gains Taxes. Brett ask for a breakdown, and Trog responds with What, Why, When, and How Much related to paying these taxes. Trog also points out that it's not a bad thing to have to pay taxes, you just have to be prepared. Porch Beers is a series of casual episodes, where Brett asks Trog questions cold, that he hasn't heard prior to the conversation. Like most conversations they have over a beer, Trog doesn't know what will be asked of him at the time. His vast expertise of the economy is put to the test when he's asked for advice or clarity on the various topics we discuss. Thanks for listening! Please subscribe, leave a review and let us know what you think! Have a wonderful day!

On this episode of Porch Beers, Dr. Trogdon answers questions about healthcare. When he is presented with his annual renewal, how does he make his selection, what is important to him at a given time, and what does he wish he had a choice on that he doesn't? Trog talks about how complicated the annual renewal process is that it can be easy to make poor financial decisions. He also talks about how easy it is to get 'sticky' with your plan and not change often enough as your personal healthcare needs may be evolving. Then the questions turns to the bigger healthcare picture, in the macro sense. How is the healthcare industry unique to other industries? Is the healthcare market, really a market? And what do other countries get right and wrong about their healthcare markets that would and wouldn't work in the United States? Porch Beers is a series of casual episodes, where Brett asks Trog questions cold, that he hasn't heard prior to the conversation. Like most conversations we have over a beer, Trog doesn't know what I'll ask him at the time. His vast expertise of the economy is put to the test when he's asked for advice or clarity on the various topics we discuss. Thanks for listening! Please subscribe, leave a review and let us know what you think! Have a wonderful day!

On this episode of Porch Beers, Dr. Trogdon answers all of Brett's questions about currency. Why is a dollar worth a dollar? What variables impact the value of money and the variances with other countries' currencies? Would the concept of the Euro work in other regions? And where did all that gold go anyway?!?! Finally, Trog counsels Brett as he navigates buying a coffee in a Bosnian truck stop, and a few other adventures. Porch Beers is a series of casual episodes, where Brett asks Trog questions cold, that he hasn't heard prior to the conversation. Like most conversations we have over a beer, Trog doesn't know what I'll ask him at the time. His vast expertise of the economy is put to the test when he's asked for advice or clarity on the various topics we discuss. Thanks for listening! Please subscribe, leave a review and let us know what you think! Have a wonderful day!

Dr. Trogdon and Brett sit down to discuss calculating the expected value of chasing your dreams. The emotional relationship that we all have with our most personal goals can be hard to navigate. Whether trying to make it as a professional athlete at the highest level, a successful artist, or skillfully climbing the corporate ladder towards your dream job, it can be hard to review your progress over time without laying out your plan at the beginning. Trog discusses examples from formal economic studies to help tailor your goal setting, progress review, and even goal reassessment while you are on your path to success. Brett also shares examples from his and his peers lives chasing their dreams and navigating second careers on the other side of the dreams. Enjoy the episode! Thanks for listening - have a great day!! **Please subscribe, rate, and leave a review to let us know what you think of the episode!**

On this episode of Porch Beers, Trog turns the tables and asks questions about the consumer experience in retail stores; how are brick and mortar stores set up and why, how do companies identify different consumer archetypes and how do they interact differently with each one. He also asks about the franchise business model, who it is good for, what do you get, and does it make financial sense in the long run. Porch Beers is a series of casual episodes, where Brett and Trog ask each other questions that they haven't heard prior to the conversation. Like most conversations they have over a beer, conversations are informal but focused on their respective areas of expertise. Thanks for listening, please leave a review and let us know what you think! Have a wonderful day!

Dr. Trogdon and Brett chop it up about the intimidation of saving. How am I going to get to that downpayment on a house? How am I going to get that emergency fund set aside quickly enough? How will I ever save enough to retire? Retirement, emergency funds, college, and a downpayment on a home can feel like an enormous undertaking, and overwhelming without a plan. How did Trog first start prioritizing his savings as a graduate student? How has his plan and approach changed as his situation has changed? What does his Champagne Fountain of Savings look like? What do you do when you hit speed bumps along the way? Enjoy the episode! Thanks for listening - have a great day!! **Please subscribe, rate, and leave a review to let us know what you think of the episode!**

On this episode of Porch Beers, Dr. Trogdon answers questions about what insurance he carries, why, and how he came to his decision. He also shares what new financial tech product he is most excited about. Porch Beers is a series of casual episodes, where Brett asks Trog questions cold, that he hasn't heard prior to the conversation. Like most conversations we have over a beer, Trog doesn't know what I'll ask him at the time. His vast knowledge of the economy is put to the test when he's asked for advice or clarity on the various topics we discuss. Thanks for listening, please leave a review and let us know what you think! Have a wonderful day!

Dr. Trogdon and Brett chop it up about their kids starting to hustle and making more money than just their allowances. How did Trog first get started working beyond chores around the house? What did he learn as a kid and as an adult about teaching his kids about work and the value of money. Trog discusses how his two children's different personalities and views to money, required different approaches and expectations. As an economist, he also introduces the idea of "customer demand", "cost of goods sold", and "market size". Most importantly, he reveals his long play... what does he really want for his kids when they grow up and enter the adult world, and what can they do as kids to make that time happy and fulfilling. Enjoy the episode! Thanks for listening have a great day!!

On this episode of Porch Beers, Brett flips the routine a bit and asks Dr. Trogdon to talk about his Year of Minimalism. Each year, Trog selects a theme for him to focus on and learn about for the calendar year. The themes vary from subjects like music, religion, relationships, and comedy to name a few. A couple of years ago, he selected minimalism and went through the process of systematically reducing the tangible items in his life, rethinking his consumption, and explored the concept of minimalism in various areas like art, music, and design. Porch Beers is a series of casual episodes, where Brett asks Trog questions cold, that he hasn't heard prior to the conversation. These moments stem from real life where they often sit down for a beer and inevitably talk about money, work, the economy, politics, and fatherhood. Trog's vast knowledge of the economy is put to the test when he's asked for advice or clarity on the various topics we discuss. Thank you for listening, please subscribe and leave a review to let us know what you think! Have a wonderful day! @trogonomics

Trog walks Brett through his approach to allowances and teaching his kids about money. Trog explains his "Four Bucket" approach to spending, giving, and saving and describes his "Bank of Trogdon". He'll share how his two children's different personalities and views to money, required different approaches and expectations. After listening to this episode, you can go to Trogonomics.com to download the Bank of Trogdon spreadsheet and start tracking your kids weekly incomes, savings, and investing. Enjoy the episode! Thanks for listening day have a great day!!

On this episode of Porch Beers, Dr. Trogdon answers questions on how he navigated one of his toughest financial decisions as well as explains how the unemployment rate is calculated and how to gauge when it is considered good, average, or bad. Porch Beers is a series of casual episodes, where Brett asks Trog two questions cold, that he hasn't heard prior to the conversation. Like most conversations we have over a beer, Trog doesn't know what I'll ask him at the time. His vast knowledge of the economy is put to the test when he's asked for advice or clarity on the various topics we discuss. Thanks for listening, please leave a review and let us know what you think! Have a wonderful day!

Trog walks Brett through his monthly financial plan and review that he uses with his family. He discusses how he and his family came up with their collective goals, how they manage each and every expense, and how they review the info each month. After listening to this episode, you can use the data and spreadsheet on Trogonomics.com to start your own monthly financial planning. Enjoy the episode and have a great day!

On this episode of Porch Beers, Dr. Trogdon answers questions on how he would select a financial advisor as well as discusses the role of the International Monetary Fund in the world. Porch Beers is a series of episodes, where Brett asks Trog two questions cold, that he hasn't heard prior to the conversation. Like most conversations we have over a beer, Trog doesn't know what I'll ask him at the time. His vast knowledge of the economy is put to the test when he's asked for advice or clarity on the various topics we discuss. Thanks for listening! Have a wonderful day!

Back in college, Dr. Trogdon launched his career as an economist and researcher by authoring a study on the evolution of the NBA Draft. He believed that teams at a certain point in the season would start to intentionally lose games in order to get a better spot in the upcoming draft. We'll discuss the study, the players involved and how things evolved with the NBA draft over the years. Enjoy the episode!

Several years ago, Dr. Trogdon published his research on the economic impact that obesity has in the United States. One of his most cited works, it was very well received and often referenced by policy makers. Fast forward to 2013 when the U.S. Supreme Court heard arguments on the legality of the Affordable Care Act, Trog's work was cited by Chief Justice Roberts in his majority opinion. We sit down over a cold beverage to discuss the research, the case, and the impact it had on Trog's career.

Let's talk about the idea of whether or not owning a car is your best use of your money in today's economy.  The world we live in today offers so many ways to get yourself around and the things you need versus even 15 years ago.  You now have financial options and potential freedoms that you did not have previously.  Owning a car for some is a honor and a creative extension of themselves.  For others, it is an inconvenience and a large upfront investment for something that offers them little passion or emotional rewards. Trog breaks down the thought process and financial decisions you'll need to make in order to chose the best option for you and your lifestyle.

Brett, a Baylor University graduate with a BBA in Entrepreneurship and French while a member of the Track and Cross Country teams is a battle scarred serial entrepreneur with experience in tech, athletic apparel, and specialty retail. He has sold customized athletic apparel to sororities while a student Baylor University, networked hundreds of specialty retail stores across the country and supported their first endeavors into online retail, and united the fitness community of San Francisco while selling tens of millions of dollars of running shoes and apparel.

Dr. Justin Trogdon (AKA Trog) is a tenured Professor in the Department of Health Policy and Management at the University of North Carolina, Chapel Hill. He graduated Phi Beta Kappa from Baylor University with a BS in Economics. He went on to earn his Master's Degree and PhD from Duke University. As a health economist, his current research focuses on answering policy-relevant questions in three areas: the economic burden of cancer, evaluating the cost-effectiveness of health related government policies, and development of methods to identify effects of government policies. Prior to his faculty appointment, Dr. Trogdon was a Senior Research Health Economist in the Public Health Economics Program at Research Triangle Institute (RTI International) and a visiting instructor at Duke University. Dr. Trogdon's economic research has been published globally and cited over 44,500 times. His work has been referenced globally including a United States Supreme Court decision, BBC, and ESPN.