00:00It is a picture of economic anxiety and you see it in the price action. And Nikki, it's fascinating to
00:04see how people respond, especially young people, which is a real picture of extremes, right? You've got financial nihilism on
00:11the one end and then you've got what some what some people are calling retirement maxing on the other end.
00:15Yes, we took a look this week at this cohort of Gen Z who are not the ones on prediction
00:22markets, who are not the ones taking these YOLO bets in the stock market. But instead they are. And we
00:27use this with our tongue in cheek a little bit. Retirement maxing. And they're putting away money into savings rather
00:35than spending in the moment, sometimes even ignoring their credit card bills.
00:39Most of them, not yet. I'm shocked. People under 30. Yeah, that's that'll take care of your excess.
00:48But yeah, people putting into IRAs and their 401ks as much as they can because they don't know what's coming
00:54ahead.
00:55I want to get this in. It's just too important. We do personal finance. We do retirement. We do wealth
00:59management. And Nikki Waller and Suzanne Woolley have without question the essay of the day.
01:04That comes to Marlon over at Fidelity. I was shocked at the chart, the jump condition in health care costs
01:11for retirees.
01:12Yeah, it is. Absolutely. It's been rising for years. And what we're seeing is that if you are retiring this
01:19year, your health costs that you will pay out of pocket.
01:22If you're a couple, it's up to three hundred seventy one thousand dollars. That is an almost eight percent jump
01:27from last year.
01:28It is supposed to be almost like free, like fifteen thousand dollars.
01:32Yeah, no, that that doesn't happen anymore. And if you're a Gen X or like David Gura myself, you're also
01:36thinking about really paying for your parents care and saving for your kids college tuition at the same time.
01:41So this just adds to it. We'll be working forever. Incredibly daunting. Yes, I agree.
01:45OK, David Gura. Thank you so much. Thank you for coming.
01:48I'm happy to be here. Thank you, Tom.
01:49Next time, bring something from Redside with you. Stacey Vanek-Smith, thank you, Waller. Thank you so much as well.
01:57You know, I look at this and I know the theme of the show should be called Bloomberg Inflation.
02:01It should be the title of the show. You know, we could do a rebrand.
02:04But this has been a really stressful week. I mean, I'm sorry. Wednesday, it was like vibrating.
02:11I know, but it's calmed down a little bit here on this Friday.
02:13And, you know, next week we've got a lot to look ahead to, especially this hyperscaler earnings, because it looks
02:18like AI is driving this entire economy.
02:20And everybody involved with Bloomberg Money, retirement, wealth management, they all own it, don't they?
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