9/11/26 Green on the Screen: Markets, Costco & The Art Heist Story

The Moneywise Radio Show and Podcast Friday, September 11th BE MONEYWISE. Moneywise Wealth Management I "The Moneywise Radio Show & Podcast" call: 661-847-1000 text in anytime: 661-396-1000 website: www. MoneywiseGuys.com https://www.moneywiseguys.com/ facebook: Moneywise_Wealth_Management https://www.facebook.com/moneywiseguys/ LinkedIn: Moneywise_Wealth_Management https://www.linkedin.com/company/moneywise-wealth-management-bakersfield/ Guest: Carrie Blind, Owner of Wild N' Styled (Hair Stylist) & Art Heist websites: https://www.prekindle.com/event/95678-la-vie-boheme-an-art-heist-fundraiser-bakersfield https://www.instagram.com/wildnstyled/ The opinions voiced in this podcast are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision. Art Heist, Wild n Styled & Carrie Blind are not affiliated with nor endorsed by LPL Financial or Moneywise Wealth Management

• 0:00Speaker 00

  Live from the basement inside the historic Woolworths building in downtown Bakersfield. Call or text in at 661-396-1000.

• 0:09Speaker 01

  I need a dollar, dollar, dollar, that's what I need. Hey, hey, well, I need a dollar, dollar, dollar, that's what I need. Hey, hey, said I need a dollar, dollar, dollar, that's what I need. And if I share with you my story, would you share your dollar with me? Securities offered through LPL Financial, member FINRA, SIPC. Investment advisory services offered through LPL Financial. LPL Financial and MoneyWise Wealth Management are independently owned and operated.

• 0:37Speaker 00

  Now, let's start the MoneyWise Show.

• 0:41Speaker 02

  Hey, welcome to the Friday edition of the MoneyWise Show. Live from the basement of the historic Woolworths building in downtown Bakersfield.

• 0:50Speaker 02

  It's gonna be a good weekend, a lot of things going on this weekend. For the next hour, you're here on News Talk 96.1 and 1230 AM. KERN streaming live at MoneyWiseGuys.com.

• 1:04Speaker 02

  You know, you can always listen to any of our old shows. You can listen to this show after Steven cleans it up and gets rid of all the commercials. When we got, when he posted as a podcast on Spotify, Apple Podcasts.

• 1:15Speaker 00

  Usually up by two o'clock.

• 1:16Speaker 02

  Usually, yeah, give it about an hour. He'll be up and running again.

• 1:21Speaker 02

  We're your hosts, I'm Justin Leland here with, uh, Miss Who?

• 1:26Speaker 03

  Say my name, say my name.

• 1:28Speaker 02

  Miss Debbie Lewis.

• 1:29Speaker 00

  Oh, man, I have to change the songs, I have to take that one out.

• 1:33Speaker 03

  I know, Beyonce's got nothing on me.

• 1:35Speaker 02

  All right, yep, yep, Debbie Lewis, how you doing?

• 1:38Speaker 03

  Happy Friday.

• 1:39Speaker 02

  Happy Friday.

• 1:40Speaker 03

  It is a happy Friday because it is U.S. Open tennis season.

• 1:44Speaker 02

  That's right.

• 1:45Speaker 03

  We got two American men in the semifinals tonight. I'm ready for my Tommy's Pizza and some tennis.

• 1:53Speaker 02

  What's, what's your go-to Tommy's Pizza? Is it the Hot Pep or is it the, what do you do?

• 1:58Speaker 03

  I think usually Hot Pep is the default. But tonight, I think we are doing a little tomato-based cheese, sausage, garlic, basil.

• 2:08Speaker 02

  All of the above.

• 2:09Speaker 03

  And maybe a little honey drizzle on there.

• 2:11Speaker 02

  A little, little hot honey on there.

• 2:12Speaker 03

  You know, I like the sweet, salty, spicy.

• 2:16Speaker 02

  Mixture, salt, sweet, fat, all of it.

• 2:19Speaker 03

  All the things.

• 2:20Speaker 02

  That's right. Something else is going on this weekend, Debbie, you have a wonderful event with the BMOA, the Museum of Art, you got Jazz in the Garden coming up.

• 2:29Speaker 03

  It's a busy, now that the temps are dropping a little bit, not a lot.

• 2:33Speaker 02

  It'll be mid 90s tomorrow.

• 2:34Speaker 03

  But yeah, the wonderful Chris Tiner and the B.C. Jazz students and professionals will be playing a free concert in the Sculpture Garden at the Bakersfield Museum of Art during Family Day tomorrow.

• 2:49Speaker 02

  Yeah, so what time does that start? That's at, uh?

• 2:52Speaker 03

  Family Day is all day until five o'clock at the museum and they'll have some art projects going on inside, free for members. But welcome to all, and then Jazz in the Garden is 11 to 1 o'clock.

• 3:04Speaker 02

  So it's like that lunch period, you know, a couple hours.

• 3:07Speaker 03

  Free for everybody.

• 3:08Speaker 02

  Bring a, bring a blanket, you know, a little picnic deal.

• 3:10Speaker 03

  Kid-friendly, there will be a great matcha pop-up vendor. It's a lovely time under the trees. It's beautiful.

• 3:19Speaker 02

  And you get to listen to some jazz.

• 3:21Speaker 03

  Maybe I'll see you there, Justin.

• 3:22Speaker 02

  I don't know, maybe, I think we got some other things going on this weekend.

• 3:26Speaker 03

  Wait, I would like to plug, I know we're already plugging it, thank you for doing that, I was not planning on that. But B.C. will be out there, the B.C. Alumni Association, I do want to give them love, a lot of love, they are the sponsor that helps make this event free for the public. And they will be out there doing like mimosas, sodas, water, sips for scholarships. So if you purchase a beverage from the B.C. table tomorrow, that money goes towards scholarships for B.C. students.

• 3:58Speaker 02

  That's amazing.

• 3:59Speaker 03

  We love our partnership with the B.C. Alumni.

• 4:01Speaker 02

  That's gonna be a fun day.

• 4:02Speaker 03

  And the B.C. Foundation.

• 4:04Speaker 02

  And then when you're done with that, you get to go home and watch more U.S. Open.

• 4:06Speaker 03

  Yeah, baby, the women's final.

• 4:08Speaker 00

  Or you can meet me at the B.C. Stadium as they are home against Ventura tomorrow night as well, their football team.

• 4:15Speaker 03

  How's the team looking this year?

• 4:17Speaker 00

  2-0 so far.

• 4:18Speaker 03

  Yay!

• 4:20Speaker 02

  You know, it's funny, because as soon as this, the, as soon as the calendar turns from September to October.

• 4:25Speaker 00

  Yeah, you can't sleep.

• 4:27Speaker 02

  It's like, there's literally a thousand and one things to do.

• 4:30Speaker 03

  Non-stop.

• 4:31Speaker 00

  Yeah, I will have to throw out that Chris Tiner, he stopped by a couple of weeks ago and gave me a copy of his new album. So incredible, if you are into jazz music or just talented musicians, don't miss that show.

• 4:45Speaker 02

  Homegrown right here in, in Bakersfield.

• 4:48Speaker 03

  And then there is a, we've got a jazz show in the basement at the Woolworths building.

• 4:53Speaker 02

  Yeah, this weekend?

• 4:53Speaker 03

  I believe, with Mike Bagueta, who is a musician that I know through Chris Tiner, it's all connected.

• 4:58Speaker 02

  It's all connected.

• 4:59Speaker 00

  Just like Bakersfield, baby.

• 5:02Speaker 03

  But we have so much talent coming out of this town. I encourage everybody to get out there and explore and enjoy and support.

• 5:11Speaker 02

  Oh, it's gonna be a great weekend. Yeah, looking forward to all the things that are happening over the next few weeks. It's event season as well.

• 5:19Speaker 03

  I'm tired already, but it's gonna be great.

• 5:22Speaker 02

  I'm already losing sleep. But yeah, Debbie and I wind up going to all these events, I know Frank goes to these events, Chris goes to these events, it's, it's event season and, you know.

• 5:33Speaker 03

  It's a marathon.

• 5:33Speaker 02

  It's a marathon, it's, it seems like two or three days a week, there's some kind of an event that, that we're all going to for some, some event, some gala, some nonprofit, some whatever.

• 5:44Speaker 03

  It's a good, it's a good problem to have, that means our city is alive.

• 5:48Speaker 02

  And vibrant.

• 5:48Speaker 03

  Yes.

• 5:49Speaker 02

  Doing all the things. Well, we have a great show today, we are going to be having, Carrie Blind will be here at the bottom half of the hour, we'll be talking about art heist and kind of what's going on in the community of arts here in Bakersfield. So another event that's kind of happening, some kind of guerrilla artwork and things like that that are gonna be happening through the downtown area. So we'll be talking to Carrie Blind here at the, the bottom half of the hour. But we're gonna do what we do and we're gonna talk about the market numbers. We're closing out the week, uh, down a touch for the week, but we're actually up about 1% across the board for the day.

• 6:30Speaker 02

  So the NASDAQ's up about 1.4%, S&P 500 is up about 0.9%, Dow is up also about 1%. So, but we're still finishing the week in, in a bit of negative territory, basically almost flat for the week, but a little bit down. And I think it's kind of, you know, there we go, flat line, not quite flat line, but you know, we're kinda, yeah, kinda, kinda there. But green on the screen today, so we're closing out the week on a positive note.

• 7:01Speaker 02

  You know, the, uh, there was a bit of a bump because of some AI infrastructure, some contracts that are recently signed, that, you know, so you're seeing companies, I actually looked at it today, Hewlett-Packard today, just, just today, up 11%, you know, so some of these infrastructure, AI infrastructure companies are rebounding a bit from some of the downward pressure that's happened, everybody's talking about this AI bubble, which I don't necessarily disagree that that's still not a thing, but when there's good news in that market, then some of these things will tend to rebound and so you'll see some of the infrastructure companies like a, like a Hewlett-Packard or Dell or some of those that are actually

• 7:45Speaker 02

  in, in positive territory. Again, that's not a recommendation to buy or sell, just telling you the news, that's what's happening out there in the markets right now. We did get a couple of questions that popped in, if you want to join the show, call in and text anytime, 24 hours a day, 661-396-1000, 661-396-1000. We got a couple of questions that popped in, Debbie, did you see a couple of those?

• 8:09Speaker 03

  Yeah, um, how about, let's start with the easiest one, what does the term tokenization mean? Asking, asking for a friend.

• 8:18Speaker 02

  You went for the hard one.

• 8:20Speaker 03

  It was the shortest.

• 8:21Speaker 02

  It was the shortest question, it was the shortest text. Okay, so here's, there's, there's really two ways to look at tokenization, okay?

• 8:31Speaker 02

  The first one is one that you use every day, okay? When you go to the, the gas station and you tap your phone on the little RFID. Your actual card number, your card number never actually goes to the Arco Station. Right? So like the, the link that you have on your phone that links to like Apple Pay or Samsung Pay or whatever it is that you're using. Your credit card information never actually makes it to the vendor. It goes through an intermediary. That is tokenization. So it gets swapped in for kind of a stand in code. Think of it like a valet ticket. The valet ticket does, is not your actual car, but it gives you the access to your car when you go in.

• 9:12Speaker 02

  So that your, your, yeah. So that's tokenization. It's a good thing. It's kind of additional security for your credit card, your information, all of that. So that's good. That's a good thing. The second one is the one that you see in the headlines. And I'm wondering if this is probably the reason for the question. It's basically taking something that you already own, like a treasury bill, a stock, whatever, you know, security it is that you are owning or buying. A piece of real estate, right? Anything like that, any kind of asset that you have. The record of it and who owns it is put onto a digital ledger.

• 9:55Speaker 02

  It's not, you know, so when you're looking on your, your bank statement or your, you know, you know, your, your brokerage statement or whatever, it'll say like a, a code of what it was. That's the token, right? That's the tokenization. So it's, it's one of those things where, you know, people miss the fact that it's like, it doesn't change what you own. It just is, it just basically a, a stand in for, for what it is that you own. So it's just, it's not changing what you own. You actually already still own it.

• 10:29Speaker 03

  You want to do another one?

• 10:30Speaker 02

  Sure.

• 10:31Speaker 03

  Do we, did you complete your thought or did I just cut you off?

• 10:35Speaker 02

  Yeah, I think we, I think we, it's, yeah. The thing about tokenization, it's always in the news and people are like, okay, what does it mean? Well, essentially it means it's the ledger. Right? And it's, it's kind of a stand in for what it is that you currently already own. It doesn't change that fact. So.

• 10:52Speaker 03

  Thank you.

• 10:53Speaker 02

  All right. Clear as mud.

• 10:56Speaker 03

  Um, all right. Hey, Money Wise guys. Every time I see a scary market headline, I want to move everything to cash. LOL. Ha, ha, ha. How did you, how do you know when you're being smart versus just reacting? Might be a good topic.

• 11:10Speaker 02

  Yeah, definitely a good topic. And here's the answer that I use for that one. Is if you have the urge to move everything to cash, you're overreacting. Just the urge to move everything to cash is already in a, in a position of overreacting. You got to remember that the news that you're hearing or the news that you're seeing or the, the, the markets as you see them. The news media is, is there to get eyeballs. The news media is there to fanaticize the, the news, right? So, you know, if it bleeds, it leads. You've probably heard that, right? If it bleeds, it leads.

• 11:52Speaker 02

  You're only getting part, a part of the story. You're not getting the full story. Let's put it this way. The stock market has never been worth zero. Right? Gold has never been worth zero, essentially, right? The bond market has never been worth zero. So when you, you have this urge to say, oh, I want to move everything to cash. If you're properly allocated, if you're properly invested in a way that is diversified and broad based, yes, there may be downturns in the market. There may, if you're looking at it though, from a long-term perspective, the minute you wind up selling, all you've done is you've locked in whatever losses you, you have already built. That's the point. If you were to, if you were to hold on to it,

• 12:36Speaker 02

  you didn't actually realize any losses, right? And when the market rebounds, which it always does, you'll be better off for it. The minute you start selling any of the assets that you currently own, all you're doing is you've just locked in whatever that loss is. So when you're, you know, talking smart money versus, you know, the reactive kind of thing, the, the, the pressure to move to cash is usually unfounded. Now, does that mean that you don't reevaluate your portfolio? If you're too aggressive and maybe you want to move to be a slightly more conservative investor during this period of time?

• 13:13Speaker 03

  Also depending on your age.

• 13:14Speaker 02

  Yeah, depending upon age and risk, not just risk tolerance, but risk, risk capacity. You know, if you're 80 years old and you're still 100% in stocks and equities, you're probably in the wrong portfolio, right? But if you're overly aggressive and you want to maybe trim that back, you're basically redeploying those assets and that's, that's okay. You, you don't necessarily need to sell everything and go to cash, but redeploying those assets, you want to stay invested one way or the other. Because the bond market tends to work in opposite direction of the stock market and vice versa, right? So a diversified portfolio that holds both stocks and bonds, part of your portfolio is going to be in up positive territory.

• 13:59Speaker 02

  Part of your portfolio is going to be down. That's, that's, that's kind of the way the markets work. And that diversification actually protects you. So, long answer for buy, hold and die.

• 14:12Speaker 03

  Oh, we have a follow-up that came through about the tokenization.

• 14:16Speaker 02

  Yes.

• 14:16Speaker 03

  I'm sorry. I was referring to tokenization on a bond. Didn't make sense to me when I first read it. Thanks. And saving our money for the fair. We love the fried food and lots of beer.

• 14:26Speaker 02

  There you go. And so, yeah, the tokenization of a bond, that's the treasury that I was talking about. So if you own treasuries, bonds, and they're, that, that tokenization is, is literally what that means. It doesn't change what you hold. It just is how they record it on the ledger. If that makes sense. Okay? We're going to take a quick break. When we come back, we have one more question we would definitely want to get to. But then we're also going to be talking about, you know, millions of Americans out there banking on getting an inheritance to fund their retirement. Why is that scary? When we come back.

• 15:22Speaker 02

  Welcome back.

• 15:28Speaker 03

  Steven, wait, were either of you at the Jack White Show?

• 15:32Speaker 02

  No.

• 15:32Speaker 03

  At the convention center?

• 15:33Speaker 00

  Oh, yes.

• 15:34Speaker 02

  No.

• 15:34Speaker 03

  What year was that? Do you remember?

• 15:37Speaker 00

  Oh, probably three or four years ago.

• 15:39Speaker 03

  No, it's got to be longer than that.

• 15:42Speaker 00

  Was it? I don't know, man. Every day runs into.

• 15:45Speaker 02

  Everything runs into pre-COVID, post-COVID.

• 15:47Speaker 00

  What day is it now?

• 15:48Speaker 03

  Yeah. Fair. That's fair. That show was amazing. It was amazing.

• 15:54Speaker 02

  Man. Welcome back to the Money Wise Show. Only about 30 minutes to the weekend.

• 16:03Speaker 03

  Woo!

• 16:04Speaker 02

  Woo-hoo! Um, we had one more question that came in. It's an interesting question. What do you got?

• 16:11Speaker 03

  Well, let me just pull that right back.

• 16:14Speaker 02

  Right back up.

• 16:17Speaker 03

  With all the debt talk and between higher car payments, mortgages, credit cards and everyday expenses, a lot of people feel buried. Do you guys think that this Trump 5K is going to happen? We can use it, but I don't know how people will spend it.

• 16:31Speaker 02

  Yeah. Uh, good question, but I, I will preface this by, this is not a political show. This is a finance show, but let's look at the track record. There were promises made of a $5,000 Doge dividend.

• 16:48Speaker 03

  What year? When, what? I was trying to find the year.

• 16:50Speaker 02

  That was very early in the presidency. That was last year when he, you know, took office and Doge came in and it was, the promise was, I think in like April or May, there was a promise of like a $5,000 Doge dividend.

• 17:03Speaker 03

  And then last year.

• 17:04Speaker 02

  That never happened.

• 17:05Speaker 03

  Last year, a $2,000 tariff revenue check for everybody?

• 17:10Speaker 02

  A tariff dividend of $2,000 was promised. That never materialized either.

• 17:15Speaker 03

  I mean, maybe all three of these checks will show up at the same time.

• 17:18Speaker 02

  I could use 12 grand.

• 17:19Speaker 03

  That might move the needle for quite a few people, but.

• 17:23Speaker 02

  Yeah, that's not.

• 17:24Speaker 03

  You know, I, and the postal.

• 17:27Speaker 02

  Look at the track record.

• 17:28Speaker 03

  Maybe the postal service will be shut down in between.

• 17:31Speaker 02

  Now and then.

• 17:32Speaker 03

  The checks being cut and.

• 17:33Speaker 02

  Yeah. I, I don't know. I think, you know, with, without getting too much into the, the whole political realm, let's talk about it from finance. We are currently $40 trillion in debt. And to give every American adult $5,000 would cost somewhere on the order of $1.7 trillion to send out those checks. Doing the math, there's 300 and 340, 350 million Americans, most of them adults. So say 300 million Americans that would be subject to that $5,000. That right there is 1.5 trillion. Okay?

• 18:18Speaker 02

  There's, there's, I, the chances of us getting a $5,000 check for that, Slim and None, and Slim is lacing up his boots to go on vacation. I don't see that happening anytime, because I don't think that the, I don't think there's a temperature to add another hundred, you know, 1.5, 1.7 trillion dollars to the national debt. That money would be better spent paying off the debt if that was the case, right? So, I don't see it happening, but you are absolutely right. I feel the same way that you do, that inflation is too high, things have gotten way too expensive. Going to the grocery store, what cost you $100, you know, three years ago is now

• 19:00Speaker 02

  costing you 150. That's, that's real dollars, right?

• 19:04Speaker 04

  Well, I, I was just mentioning during, when we were preparing for the show, the, hearing about the Costco indicator. I thought that was fascinating. I had not heard of that before, but...

• 19:16Speaker 02

  So, what is the Costco indicator? The recession indicator known as the Costco indicator? Tell us about it.

• 19:21Speaker 04

  So, I, I guess there's a, a strong pattern of correlation of people shifting their protein purchases. So, going from, you know, a lot of people eat red meat, so cutting back and you, like, red meat cells go down, chicken, poultry starts to go up. And then, when things start to get worse, people transition from poultry to canned tuna.

• 19:46Speaker 02

  Yeah. And that indicator's been basically 100%.

• 19:51Speaker 04

  Well, they're, they're claiming it's not scientifically, you know, whatever proven, but, but there tends to be a pretty strong pattern. And it often is appearing before the government is reporting. Like, it lags a couple of months on reporting on downturns.

• 20:09Speaker 02

  There's a really good reason for that, because while the government, you know, and the Bureau of Labor Statistics and, and all this, all of these things, the government looks at all these data as, well, that's all after the fact. That's, that's numbers that are coming in a month or two or three after you and I are feeling it in our pocketbook, right? So, if, if, if, if Americans are feeling like, hey, I can't afford that ground beef or those steaks, because, you know, that, that ribeye over there is, you know, $30 a pound, I'm not gonna buy that, you know, that steak. I'm not gonna buy $8 a pound ground beef, right? I'm gonna wait for

• 20:53Speaker 02

  prices to go down. So, I wanna switch to chicken. Oh, wait a minute. Now, chicken breast, boneless, skinless chicken breast is $7 a pound, or whatever it is. I'm not gonna buy that anymore. Hey, that canned tuna, that chicken at the sea for, for $2? Yeah.

• 21:06Speaker 04

  Hey, Costco has some great options, okay? And I will say, I am one of those people. I've been moving away from pork tenderloin and chicken to tuna, and it's also better for you.

• 21:17Speaker 02

  It's better for you. It's, if it's packed in water, not oil, right? Probably better for you.

• 21:22Speaker 04

  No, olive oil's good for you.

• 21:23Speaker 02

  Well, yeah. I don't know. I'm not a big tuna guy, unless it's sashimi.

• 21:28Speaker 04

  Well, that's a personal issue. Yeah.

• 21:30Speaker 02

  Yeah. If it's sashimi, I'll do that. I'm not, I'm not the canned tuna guy. Anyhow, we're gonna take a quick break. When we come back, we have Carrie Blind joining us to talk about Art Heist.

• 21:50Speaker 02

  Welcome back. That's a weekend vibe right there.

• 21:58Speaker 04

  This album is so good. Stephen, thank you for playing this.

• 22:01Speaker 02

  Yeah. Welcome back to the Money Wise Show. I'm your host, Justin Leland, here with Debbie Lewis. Speaking of Costco, we did get a follow-up message from our last question, our last topic.

• 22:16Speaker 04

  Yeah.

• 22:17Speaker 02

  What does it say here?

• 22:18Speaker 04

  Speaking of Costco, those pre-made dinners have saved us an aren't pricey lasagna, rotisserie chicken, stuffed peppers and salmon, needs a family of four for 20 bucks. That's not bad.

• 22:30Speaker 02

  That's not a bad deal. I love me some stuffed bell peppers. That's, that's a meal right there.

• 22:34Speaker 04

  Now, I want some Luigi's lasagna.

• 22:37Speaker 02

  I know. Better for Gotti's. Their, their lasagna's pretty darn good, too.

• 22:41Speaker 04

  I haven't had that in a while.

• 22:43Speaker 02

  Yeah, I know.

• 22:43Speaker 04

  We might have to go buy.

• 22:45Speaker 02

  All right, business lunches. No, but that's, I mean, that's really what it comes down to, is when we're talking about potential, like, you know, recession indicators, you know, personal spending is a real, you know, indicator, because as people change their spending habits, because they're feeling it in their own pocketbook, hey, it's costing me $200 to feed my family nowadays for a week, when it used to cost me 100, right? That's, that's not, you know, that's, that's definitely inflation. And so, people start to dial back and, and do things that are different. So, getting those pre-made meals, that's an awesome way to do it. The rotisserie

• 23:24Speaker 02

  chicken, can't go wrong. That's, that's good stuff right there. But anyhow, we are joined right now by Carrie Blind, joining us, talking about Art Heist. And there's a great event that's coming up next Saturday. We'll talk about that. But Carrie, thank you for joining us.

• 23:41Speaker 04

  Thank you so much for having me, guys. I really appreciate it.

• 23:43Speaker 02

  It's awesome to have you here. So, tell us a little bit about what is Art Heist. It just sounds cool.

• 23:51Speaker 04

  It is cool. I mean, to be able to combine, basically what we do is one night only. We combine local businesses with local artists. We pair them up, so they're kind of in a gallery type setting. And then, people can walk from space to space, experiencing different artists, different businesses. And it's a really kind of unique event. I also don't charge anyone to participate. So, it's, it's more fun when you've got a larger community that you're working with. And I'm excited. This'll be our third year.

• 24:20Speaker 02

  It's really cool. I know that we've done it here, last year, after we just moved into the building, right? We just moved in in like, last October, and Art Heist happened. And we had a quick little, a quick little mural. All of a sudden, just appeared, you know, the next morning, and we had this mural on the side of our building.

• 24:37Speaker 04

  There was a lot of reassuring people that we had not been unintentionally tagged. Well, I will tell you guys, that you guys participated the first year also, because Emily had given us permission to have live graffiti artists put tarps up against the fencing, so then they can, and they did live work out there. And that was really amazing the first year, too.

• 24:58Speaker 02

  Really cool stuff. We just weren't here. We didn't, I mean, we saw it, but it wasn't like, oh, it's on our home. Yeah.

• 25:04Speaker 04

  Wait, so what inspired you to create Art Heist? What, what is the origin story? The origin story is, I had just moved into the Haberfeld Building, and it's amazing. And I was like, this needs art. And so, I had contacted Caesar Martinez. We had an art show. It was super successful. Everybody came out. And then, two weeks later, off the rails, and Jerry's Pizza had an, had an art show. And I was like, why are we not doing this together?

• 25:32Speaker 02

  Yeah.

• 25:33Speaker 04

  And I, I was a member of the DBA. And so, I went to the DBA, and I said, hey, I have this concept. And they just looked at me, and they said, okay. And I was like, I have never done anything to this kind of scope before. And it worked, and people were really all about it. So...

• 25:47Speaker 02

  And this'll be the third year, and it's grown, it's grown each year, or is it?

• 25:50Speaker 04

  Yeah, it's grown every year. So, the first year, we had 42 locations, over 100 artists. Second year, we had 52 locations, over 100 artists.

• 25:57Speaker 02

  Wow. And what are we looking at possibly this year?

• 26:00Speaker 04

  Well, we don't know, because the first thing we've got to figure out is Lovey Bohem. So, Lovey, that's what I basically came to talk about, was, we are having a fundraiser. I've been self-funding Art Heist for the last two years, and I had to move, and that gets expensive. And so, I didn't really have the same expendable income. I think that leads right out of the story that you guys were just talking about. And I went, how can I make money to be able to let Art Heist grow? You know, because there are things that we wanna do now. We wanna move into more of a digital space, and that requires money. So, I was thinking, you know, obviously, the first option is, we could do a sponsor. And I just didn't feel like it represented the,

• 26:41Speaker 04

  the grit of what Art Heist really is, to be sponsored by blah, blah, blah. So, I was like, what can we do to make something fun, that we can raise money for Art Heist? And it'll funnel directly into it, and, you know, and here we are.

• 26:55Speaker 02

  And be more of a groundswell of like, like, actual donors, of people donating, donating, rather than more like a corporate kind of art speak.

• 27:02Speaker 04

  And having, you know, you have a sponsor, you're, you're going to advertise for them.

• 27:07Speaker 02

  Right.

• 27:07Speaker 04

  Well, and we're directly funding. We're directly funding. So, what, what I, the way that I worked out my sponsorship was, you are paying for a specific service. So, if you wanna pay that person directly, you can pay that person directly. It's only going to talent. I'm not doing blanket, like, sponsorship, where, you know, you pay $5,000, and yay, I've got your money. It was kind of like, well, you're giving me $350, that's gonna pay for the vinyl DJs that's gonna play for two hours. So, that was me, that was nice. And we've, we've had all of our talent paid for. And that's really amazing in the community.

• 27:40Speaker 02

  And so, for the businesses that are participating in this, do they tend to, like, commission a certain art project from a particular artist? Or is it kind of like, okay, we want you to do the art on the building, or where, whatever it is, and just, like, surprise us?

• 27:56Speaker 04

  Well, I think it depends. I mean, I think, I think it, I don't love micromanaging at all. I feel like it's a lot of work. And so kind of what I do is either the artist goes out and seeks a specific business, or the business knows an artist that they want to be able to, to be a part of, um, or, or to partner up with. And then they create whatever kind of experience that they want to.

• 28:19Speaker 02

  Right.

• 28:19Speaker 04

  So for some of them, it's like, yeah, they let their artists do whatever they want. And then there's other ones that get a little bit more particular.

• 28:25Speaker 03

  Yeah.

• 28:25Speaker 04

  And it's just like fitting the right people with the right, you know, they, cause I've got, I've got businesses that come to me and, and they ask me, who would I go to? Who's, who's a good artist? And you look at what their vibe is of their, of their place and go, oh, this person's gonna be a great fit for you. Yeah.

• 28:41Speaker 02

  Okay. Now, the medium is not necessarily the same from artist to artist. It's not always paint, or it's not always, you know, um, like urban art or something like that. There's other, like, almost like installation art as well, or is it all?

• 28:56Speaker 03

  Yeah, can you give us an example of some of the, like, some of your favorites that popped up last year?

• 29:01Speaker 04

  Oh, my gosh. I think my, one of my favorites, and I, I'm gonna be in so much trouble because I can't remember the artist's name and I can see his face. Thank you, thank you, Perimenopause. Um, I, I, it was a, he had installed a gigantic cigarette, like, that, that came out of a planter in front of Two Goats and a Goose.

• 29:19Speaker 02

  Oh, wow.

• 29:20Speaker 04

  And that was really neat to me because just like you said, it was kind of this installation. I didn't know that it was gonna be happening, because what I do the night of is I try to make it to every single business. And that's a lot of walking for, for a five foot three person. And so I'm like, I'm like, I'm moving these little legs. And I'm, I, uh, when I saw it, I was like, that is really dope, you know? Um, the people who originally owned Off the Rails, the first year that they put something together, that was amazing. And that was all graffiti artists. And then they, when they closed down, they actually partnered up with Bottle Shock. And so they were able to come together and they created a huge space where they were doing live graffiti painting too. But I mean, it's watercolor and we've done, we've had floral artistry. I mean,

• 30:05Speaker 04

  there's just been so many amazing things happen in the community. And it's just one night only, everybody kinda comes together type thing.

• 30:12Speaker 02

  It just does the thing.

• 30:12Speaker 04

  And we do it on First Friday, so that, that way we can also direct traffic to, you know, the arts, the arts councils, um, the, their event for First Friday.

• 30:22Speaker 02

  So talk specifically about the, the, um, the event that you have coming up next Saturday. Like, it's, where is it? What time? The whole thing?

• 30:30Speaker 04

  You're, you're sitting almost smack dab in the middle of it. I mean, where it is going to be. It isn't, I mean, not in this room. Um, it is gonna be.

• 30:39Speaker 02

  It's 20 feet that way.

• 30:40Speaker 04

  Exactly. Well, we're gonna be walking right through the hallway. Um, so it is going to be here at Woolworth's and it is from, the red carpet starts at 7:00 PM. Uh, tickets you can find on the HistoricWoolworths.com, or you can find it at the link in my bio. That's at Wild and Stiled. Um, and what it is, is it's a kind of top to bottom immersive experience where we're highlighting different artistry. So when they, when the guests first arrive, they get an opportunity to either go up to the attic, which we all know is a beautiful space.

• 31:13Speaker 02

  Great views.

• 31:14Speaker 04

  Oh, amazing. And, uh, all three of the theater companies in downtown Bakersfield are creating their own sets of Moulin Rouge.

• 31:22Speaker 03

  Oh, fun.

• 31:23Speaker 04

  So, yeah, it's, it's, it, oh, I felt like set design is a very overlooked artistry where they really don't get their kudos and their, their stars. And so I felt like that, what a great opportunity. Plus, you're gonna get some great pictures standing in front of these sets, right? So you're dressed up beautifully. And now you've got this amazing background. We'll have students that are gonna be standing around, being able to take your picture for you. So that's gonna be kinda fun too, because you know, the, the kids, they know all the angles. And, uh, and then we're gonna, also gonna have a silent auction. And Victor Gonzalez from Bakersfield Museum of Art is gonna put that together for us. Yeah. I'm, I mean, like I said, the people who have believed

• 32:06Speaker 04

  in me in this, with this event has just been kind of overwhelming. And then down here in the basement, it's gonna be a party. So we're gonna have DJs.

• 32:15Speaker 03

  Eighteen and over.

• 32:16Speaker 04

  Eighteen and over. Yeah, we, you know, those kids are so fashionable. I remember being eighteen and all I wanted to do was fit in. And these kids are so comfortable.

• 32:27Speaker 02

  In their own skin, yeah.

• 32:27Speaker 04

  Standing out. And, you know, and I just wanted to be able to include them because I felt like, you know, the red carpet and being able to really highlight fashion artistry as being part of it, textile artistry, and, and to not include them just seemed like a disservice.

• 32:41Speaker 02

  Mm-hmm, mm-hmm.

• 32:44Speaker 04

  So, yeah, so that's, that's it. It's gonna be fun. We're gonna have Chef Richard's gonna put together, has put together a great menu. Um, so very French inspired, um.

• 32:53Speaker 03

  Which is where the Moulin Rouge originates.

• 32:56Speaker 04

  Well, like Met Gala, right? So Met Gala has a theme every year. So I wanted to start off with the theme that any woman typically is gonna be able to find something that they can turn into Moulin Rouge out of their closet. So if they wanted to dress on theme, that they could.

• 33:10Speaker 02

  Right.

• 33:10Speaker 04

  Uh, and, and also I do, should mention that Open Door Network is also going to be handling our restroom attendance. So they're taking care of our entire restroom area. They're gonna be handing out, uh, domestic violence and human trafficking info too. So that's, that's kind of a cool little tie-in as well.

• 33:26Speaker 03

  We're big fans of the Open Door Network.

• 33:28Speaker 04

  Me too, me too.

• 33:29Speaker 02

  Shout out to Lauren and her team out there doing a great job. Yeah. So honestly, so thank you so much, Carrie, for joining us today. I mean, this, it's awesome to know that the arts community in, in Bakersfield is thriving and growing, uh, from all aspects. Like you said, you know, you don't even think about it. It's like, okay, you, you mentioned, you know, fashion and textile art. That doesn't even like compute with me as, as a form of art until you just said it.

• 33:56Speaker 04

  Right, right. And, and that's why, that's, that's what is so unique about you, that events, you know, I get the opportunity to make money on my creative, uh, choice every single day because I do hair. And I just wanted to be able to give people an opportunity to just shine in their own space.

• 34:13Speaker 02

  And that's amazing. And so we'll make sure that all of that information is on the podcast notes. So where to get tickets, you know, obviously on Instagram at the Historic Woolworths.

• 34:22Speaker 04

  It's an evening event. Starts at 7:00 PM.

• 34:25Speaker 02

  Correct. And, uh, great artists to meet and to, you know, see the building, you know? And, and the culinary arts, obviously. Chef Richard is gonna be nailing it. So, yeah, it's gonna be awesome. So by all means, uh, show up, join us next Saturday, uh, for that event. Carrie, thank you so much for joining us.

• 34:45Speaker 04

  Great to meet you, Carrie. Thanks so much for having me.

• 34:47Speaker 02

  And we'll be right back.

• 35:01Speaker 02

  Welcome back.

• 35:05Speaker 02

  You know, when Debbie's on the show, start throwing out house music.

• 35:10Speaker 04

  Wait, who is this?

• 35:12Speaker 03

  Joy Orbison.

• 35:14Speaker 04

  Yeah. Oh, right. This is that video I sent to you. I love that account. Oh, my gosh. And I am upset. I just found out the other day that Joy Orbison played at Lightning in a Bottle last year, and I somehow missed this.

• 35:29Speaker 02

  You missed it?

• 35:35Speaker 04

  I wanna dance.

• 35:39Speaker 03

  I wanna dance.

• 35:41Speaker 02

  Welcome back to the Money Wise Show. Couple more minutes before we go into the, uh, the old weekend here. Thank you to Carrie Blind for joining us.

• 35:50Speaker 04

  She's great.

• 35:51Speaker 02

  She's awesome. Um, you know, the arts, like we said, the arts community is alive, alive and thriving.

• 35:58Speaker 04

  And evolving and expanding.

• 36:00Speaker 02

  Yep. Specifically here in East Chester and, and all throughout downtown Bakersfield in general. Um, but it's awesome. You know, like she said, she, she was in the Haberfeld Building, um, which is a beautiful building from the, when you look at it from the outside and in that lobby, it's, it's gorgeous. But it does need a little bit of pizzazz. It needs a little bit of love. Yeah, exactly. So she took, she took it into her own hands, did it. Good for her. Kudos to her. Hey, we kind of alluded to this, but I definitely wanted to talk about this. We only got a couple minutes, but there are millions of Americans that are out there, um, that are currently roughly,

• 36:42Speaker 02

  LendingTree had a study, found that 43% of the respondents say that they are factoring in receiving some kind of a gift or an inheritance to help them support their lifestyle or to, to help them support their retirement.

• 37:00Speaker 02

  Forty-three percent are basically relying on an inheritance, on counting on an inheritance,

• 37:09Speaker 02

  uh, in their retirement planning, uh, going forward.

• 37:15Speaker 02

  Yet meanwhile, 20% fewer people expect to even receive an inheritance. So it's kind of this weird dichotomy. So

• 37:23Speaker 03

  And also the baby boomer generation is sitting on the greatest transfer. It's like 124 trillion.

• 37:32Speaker 02

  Yeah, depending on which numbers you see, there's anywhere from 80 trillion to about 150 trillion is kind of what is think about that. The United States debt for all of our debt is 40 trillion, right? Baby boomers by themselves have enough assets to be able to pay off the US debt three times over.

• 37:56Speaker 02

  Right? I mean, that's, that's wild to think about, but that's an amazing, absolutely unbelievable amount of assets that are going to wind up being transferred. And so, yeah, there are, you know, as Gen X or Gen Z or folks that are kind of looking at retirement, they're kind of like, oh, wait, this, this transfer of wealth is massive.

• 38:18Speaker 02

  From real estate to stocks, bonds, all of the different things that are going to wind up being passed down. But

• 38:25Speaker 02

  the, the issue is, how do you wind up utilizing that as a, as a plan for yourself? Right? Like, you know, if, if you're, if you're, you know, my age, you know, late 40s, early 50s, and you're kind of planning for this, this eventual inheritance, one of the things that you're, the difficulty in planning that is the entire thing is completely out of your control.

• 38:52Speaker 03

  And you might get a surprise that is not in your favor.

• 38:56Speaker 02

  Right. That's what I'm saying.

• 38:58Speaker 03

  Mom and dad, or whoever the legal guardian or whatever might decide they want to give all their money to their favorite charity.

• 39:05Speaker 02

  Exactly. And that's what I mean to get to is like, one, there's one part of it that's risky. You never know when you're going to get it. So if you're banking on it and it's like, oh, we're going to use this in our retirement. Well, your parents might live to 95 and you're in your 70s. Like you may be out of money by then, you know?

• 39:23Speaker 03

  You shouldn't plan on the inheritance being your, your savior, if you will.

• 39:27Speaker 02

  Exactly.

• 39:28Speaker 03

  It should be an extra bonus. Wow.

• 39:30Speaker 02

  Yeah, thanks. Icing on the cake kind of a, you know, kind of a retirement that shouldn't use those words because it is kind of morbid. You're talking about an inheritance, but, or some kind of a gift. But the two things that are out of your control, you never, you can't control when those, that inheritance actually hits you. And two,

• 39:50Speaker 02

  I've had people that I've worked with who have changed their beneficiaries purely on the fact that Thanksgiving dinner didn't go well. Removing people out of the inheritance because of, you know, a bad family situation or an argument or what, things that are outside of your control. And now all of a sudden your plan is kaput.

• 40:12Speaker 03

  Sure.

• 40:12Speaker 02

  You know, and that's

• 40:14Speaker 03

  Well, also you can't predict somebody's like healthcare needs that can evolve over time, long-term care. I mean, there are just so many variables.

• 40:24Speaker 02

  You know, if that's the case, and you have somebody that is, you know, a parent or a loved one that is in long-term care, you can completely deplete a portfolio in a couple of years. And so your planning is now again kaput. So be careful when making your plans for retirement. Try, try, try not to build your plan based upon things that are outside of your control. Now, a lot of things are outside of your control, but what is in your control is investing your funds in your 401k, in your IRA, you know, whatever it is, your, your regular savings account, whatever that case may be, you know?

• 41:09Speaker 02

  Take control of the things that you can control. And the things that are outside of your control, if that makes your life a little bit better, then so be it. But don't bank on those things as being true.

• 41:21Speaker 03

  Don't let that be your focal point.

• 41:23Speaker 02

  Exactly. Because that's just, it, it sets you up for failure.

• 41:27Speaker 03

  Or a great disappointment.

• 41:28Speaker 02

  Or a great disappointment.

• 41:29Speaker 03

  And panic.

• 41:31Speaker 02

  Yeah. I was planning on getting that house and in, no, that, that house might've been sold to pay for somebody's long-term care. You know, and that's, and that's unfortunately the, the rules of the road a little bit sometimes. And so,

• 41:50Speaker 02

  so parents of children younger than 18 and Gen Z adults are also reporting high expectations of receiving an inheritance or financial gift. It's, you know, and younger Americans, younger people are kind of leaning on that as being their, you know, to a certain degree.

• 42:05Speaker 03

  We're at road.

• 42:05Speaker 02

  Whoa. You know, you're 22, 23 years old and you have access to a 401k, but you're banking on the fact that your grandparents and your parents are going to hand all this money to you.

• 42:15Speaker 03

  Uh oh. Unplugged, unhinged.

• 42:19Speaker 02

  Steven wanted me to be unplugged quick. He's like, what is, stop talking.

• 42:24Speaker 03

  That was all you, Justin.

• 42:26Speaker 02

  This was like

• 42:27Speaker 03

  It's, it's time for the weekend.

• 42:29Speaker 02

  It's time for the weekend. Oh, boy. Yeah, boy.

• 42:33Speaker 03

  What is everybody doing this weekend? Steven, Justin, what are you guys doing?

• 42:36Speaker 02

  Vegetating and eating steak.

• 42:37Speaker 00

  Work, work, work. Headed to Vegas.

• 42:40Speaker 03

  Oh, yeah. Dolphins.

• 42:42Speaker 00

  Go Dolphins, baby.

• 42:43Speaker 02

  Go Dolphins.

• 42:47Speaker 02

  That's going to be on the loop. Oh, man. Be smart, be safe, be money wise. We will see you next week. Have a wonderful weekend. Stay cool.

• 43:02Speaker 01

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