Jan. 6, 2025

2025 Investment Insights: Market Volatility and Opportunities in the New Year

2025 Investment Insights: Market Volatility and Opportunities in the New Year
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2025 Investment Insights: Market Volatility and Opportunities in the New Year
2025 Investment Insights: Market Volatility and Opportunities in the New Year

This week on The Money Matters Show, the team reflects on the end of 2024 and discusses the investment outlook for 2025. Dean addresses educational reform and its impact on the economy, highlighting shifting attitudes towards failure and...

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This week on The Money Matters Show, the team reflects on the end of 2024 and discusses the investment outlook for 2025. Dean addresses educational reform and its impact on the economy, highlighting shifting attitudes towards failure and accountability and their effects on everything from college football to economic resilience.
The show delves into market dynamics, recent volatility, high valuations, and tech stock fluctuations. Valuable investment strategies include maintaining higher cash positions and readiness to capitalize on market dips.
The conversation touches on legislative chaos, market holidays, and voter participation. The future of unionization efforts at Starbucks and the evolving landscape of electric vehicles amidst rising electricity costs are also discussed.
WEBVTT

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Good morning everybody. It's that time, Sunday morning, eight o'clock

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right here in seven ninety k and is tea and

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this is the Money Matter Show with Dean Greenberg. Hopefully

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for the next couple hours, we'll bring you some insightful

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information about what's going on in the world, the markets, politics,

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and how to profit from it. That's what the show's about.

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We've been doing it for thirty five years, talking to

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you right here in Tucson about how we look at

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the markets, how we invest money for people as money managers.

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A little bit different and a little bit unique, but

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we enjoy it. And I don't mind educating telling you

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what's going on and not. I've talked to you about

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this many many times. You're gonna have all these economists,

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all these people out there telling you newsletters, people from

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the top Wall Street firms telling you what they expect

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this year. But at the end of the day, it

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does it matter unless they are pressing the button to

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make the trades. Anyone in this business that manages money

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for others is the ones that I respect because you

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have a track record every day, every week, every month,

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every year. You have to do it same thing. You're

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not an institution. When you're on our site, you have

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to do it accordingly with each client's risk preference. Also,

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because as you know, everything we talk about, everything we

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discuss has some type of risk. Greenbrook Financial Group is

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both a registered investment advisory and a broke a dealer.

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For now, the BROCA dealer side's going away in the

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next thirty days or so. They're always going to be

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a registered investment advisor and always going to be a

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fiduciary and from that point we will always always understand

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the risks. We want you to understand the risk too.

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There's risk in everything that happens, everything we do, everything

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you do has some type of risk. If you understand risk,

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you become a much better investor. So when you look

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at that, we've been talking the last few weeks that

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we thought the market was a little bit risky and

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we were hoping for a Santa Claus Rally. Didn't really come.

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We had one day to Santa lu Court Santa Claus

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Rally that was on Friday. I believe were setting ourselves

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up for a lot of volatility. Volatility just doesn't go down,

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it goes down and up, and that's exactly what we're seeing.

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On Thursday, it was a perfect example. The S and

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P five hundred and the down. Everything was way up.

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SMP was up almost fifty some odd points, finished down

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the day after being down a lot about thirty some

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odd points. That's a seventy five eighty point swing in

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the S and P s in a very short period

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of time. More than that one am I talking about.

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You talked fifty and then another thirty about eighty points

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in a very short period of time. Those are things

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that cause volatility. That also causes people to say when

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they should in and buy when they should in. I've

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been very, very very strong on telling people be patient,

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be patient. The valuations of the market are high. If

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the earnings don't come out better than expected, you're going

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to see drops and stocks. Those are going to be

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our opportunities to purchase or indexes. I have no problems

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buying basket of stocks and ETFs for people that want

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a little less risk but want to be exposed to

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the more growth areas or the indexes. You got to

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have indexes. One of our models called the GfG model,

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has all the major indexes in them and different percentages

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you and you always continue as the markets move one

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way to the other to readjust them and reallocate them

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so the meeting the percentages you want. This is how

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you are able to mitigate the risk in the markets

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when they're going up, and that way you go ahead

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and mitigate the risks when they're coming down. Having a

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little bit above cash position right now is where we sit.

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We don't mind having cash in a money market earning

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four one and a half percent or so at this time,

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four point three percent, we'll take that. While the market's

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flounder between basically fifty eight hundred on the SMP and

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sixty one hundred on the SMP. They break out, then

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it looks a little bit better if the earnings are

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showing us. If it breaks down, expect us to come

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down to fifty five hundred or so, which would give

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us a good ten to eleven twelve percent, maybe fifteen

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percent for the top. And if it does that, it

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will be quick, it'll be scary, and then we do it.

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Why do I think that could happen, Well, I think

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there's volatility. The reason I think it could happen is

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everything isn't going to go Trump's way. Well, I think

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he has a lot of grit, great economic ideas, they

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still have to be passed. And this is what makes

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my mind boggle when everybody calls them fascist, dictator, communists,

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you name it. They are people. We have to vote.

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The people that we put in the Congress and the

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Senate and the House and everyone else has to vote.

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They have to agree to whatever it is. And as

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you know, the Republicans do not vote one lockstep like

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the Democrats do, which is good and bad obviously, because

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at least when they don't want to vote, they have

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to compromise so we can get some things done. I

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don't want this to be like we saw the first

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time around, when everything was locked up and it was

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almost impossible to get through. We need to move quickly, swiftly,

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with confidence that the moves we make are going to

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make changes. But I promise you whatever he puts in

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with the stroke of the pen, whatever the bills are

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that come to the table, are going to take time

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to implement. It's going to take time to get it

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through and start going. Hell, we all know there's more

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money left over from all from the pandemic. There was

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still money left over for years. The other bills that

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the Biden got passed. There's still money left over, so

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it takes a long time to go through this chips

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and Technology bill. There's still a lot of the billions

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and billions of dollars. Then, on the other hand, we

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got the Doge Committee with Vivic and Musk going ahead

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and going to try to clean things up. But remember

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they can't do anything except go ahead and give suggestions,

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suggestions that are gonna have to be acted on by

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the Trump administration, and therefore those that have to be

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voted on are going to have to be voted on

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by Congress. So I believe you're going to see a

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stall and what's going to happen here, which is going

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to cause chaos and chaos is going to go ahead

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and cause concern, and concern is going to cost people

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not to be biased, which means they'll be more sellers,

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and the markets could fall and set us up a

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fantastic buying opportunity. I believe in the first few months

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of the year, we'll see if that pans out. If

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it doesn't, then I'm wrong, and the markets keep going higher.

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It's just stretching on envelope more stretching a rubber band

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more for the snapback, but you're still going to make money.

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You just wouldn't make as much. And if you're in

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the right things, you might make more. It all depends

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on how you know the risk you take and how

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you're looking at it and what are you doing. But

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normality would be or in the indexes of the index

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is going up and not coming down. You're going to

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make money period if you're in some of the stocks

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that are going to be the good ones, or you're

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gonna make money period. But do I think the technology

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stocks could have a little snap back, Yeah, they can,

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but when you that's the micro picture the next few months.

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But the reason I bring that up is the reason

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you the way you can protect yourself from skitting skit

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out is by having some extra cash. If you usually

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like being seventy percent or eighty percent invested in the

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market of your overall investments, cut that back to sixty.

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It's all right, if you're sixty seventy, cut it back

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to fifty. You'll still make money, and you'll still earn

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money in the money market, but you'll have money to

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buy if they do come down. If they don't, I

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promise you there's always opportunities there will be something that

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will happen. Look at Boeing. Okay, Boeing twice gave us opportunities.

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We'll see where it goes. If you can get it

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back together, you'll see that's rally again. Disney, great example.

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Great example, went down in the seventies, came all the

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way back up to about one hundred and twenty five

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hundred and thirty, came all the way back down to

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the to the nineties, and now it's back up into

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the one ten area or so. These stocks will go

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up and down. If you wait for your opportunities, they

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will give them to you. The doubt companies are big companies.

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The tech companies are big companies. Remember, the tech companies

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are going to have to basically be perfect on the AI,

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the artificial intelligence money they're spending to keep the growth going.

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Otherwise people are going to start saying, whow, we're spending

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a lot of money on that and we're not seeing

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any returns. I don't expect to see some returns right away,

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and I've seen a lot of money going into the

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next era of investing, which is the quantum computering, which

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these things have done more than two or three times

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the money already. Stocks that were a dollar or ten dollars,

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stocks are were four or twenty dollars, and the stocks

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that were ten or four does it stop? I don't know.

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Would I jump on here? I would be nervous. Okay,

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having that for everybody because quantum computing, for sure is

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behind AI. You gotta get the AI, then you got

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to quantum computing. So is it speculative, absolutely it is.

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Are people gonna make money off of it? Yes? Are

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people gonna lose money off of it? Yes? Because the

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volatility will be there, and when it comes to the forefront,

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you'll know which ones are the good ones, just like

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the video did. And no matter when you got into

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it in the video and you didn't have to get

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in at ten or twenty or fifty dollars, you made

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a lot of money off of it because it became

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the to the forefront of what everybody needed. And that

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stock started going from one hundred and ten all the

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way up to almost twelve hundred dollars and then and

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then split okay maybe it was fourteen hundred dollars, I

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can't remember, but and then split ten for one. That's

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what we had and that's why you have to look

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at it and say you will have those opportunities, but

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making money also takes some risk. And if you take

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risk and you don't like risk, and these things go down,

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they hurt you. So for the first week of the year, okay,

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ending today, the markets were down about a half a

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percent across the board. Okay, that means for Monday, Tuesday,

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and then off Wednesday and Thursday and Friday. But from

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January starting right now, we're up about one percent across

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the board because we had a very good Friday. We'll

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see where we go with it in the areas. Remember,

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technology is still going to be at the forefront. You know,

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you got the fence out there that that's not going

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to go away. You know, We'll see what happens with

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the banks if they deregulate. Is that going to help them?

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But interest rates aren't helping them so much yet. The

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Fed Fund rate's coming down, so people are able to borrow,

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not people, but banks are able to borrow money and

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loan money at a lower rate. That means that maybe

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these banks can make some more money, So maybe the

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financials will do well. But on the other side, mortgages

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and stuff are going to be high, So you're not

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going to see that booming yet. People got to feel

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comfortable with the seven six and a half percent rate

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and before they start going out and purchasing a new home,

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because you know, right now, if you're sitting there with

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a two and a half, three, three and a half,

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even four percent loan, why are you going to go

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buy another place and start spending six and a half

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seven percent on your mortgage unless you had to. These

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are things they're going to affect us going forward. So

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I think the night of this year could be tough,

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and I think it could be volatile. I don't expect

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if we see more than double digits, I'd be surprised.

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But if that doesn't mean it can't happen, it's sometime

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early or later coming back. But I do think that

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anytime we have a fullback of ten percent, the more

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you know, don't looking at dollar cost savage. In dollar

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cost savage means it means that you put a little

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bit at a time. And if you put a little

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bit at a time, what that will do is go

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ahead and give you the opportunity to go ahead and

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keep moving forward. And if you do that, that will

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be fantastic and that will put you in a position

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that that will go ahead and allow you to make money.

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I mean, at the end of the day, that's what

233
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you're looking to do. You're looking to make money. And

234
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if you're looking to make money, the best way to

235
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do it is to be patient and buy when it's

236
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low and trim back your positions when the markets go

237
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up and they're higher. So Johnson got in, okay, you know,

238
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obviously some of the Republicans voted against them, but finally

239
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came around at the end. I like the fact that

240
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it got happened. I'm glad he stayed the Speaker of

241
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the House because we need type of continuity. Gottwity Okay,

242
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we need it. We need people that have been there,

243
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that are doing it over and over. I don't want

244
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to see infighting. Infighting will not be good for us.

245
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We don't need it. Well, finally turning the corner here,

246
00:14:19.000 --> 00:14:22.159
it seems like he's going to get a little bit

247
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of a break here with some ideas. But people are

248
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gonna as soon as they start coming out left and

249
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right with bills. You know, it's gonna be all over

250
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social media. You're gonna see all the negative press. You're

251
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gonna see all these morning shows doing things. But once

252
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that's done and over, we'll see where it all lands.

253
00:14:38.919 --> 00:14:45.519
There's nothing wrong with reducing regulations that don't make sense.

254
00:14:47.000 --> 00:14:51.679
I'm not talking about regulations that end up creating problems

255
00:14:51.679 --> 00:14:58.440
for people. I'm talking about regulations that don't allow people

256
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to take advantage. But they don't make sense, and all

257
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they're doing is costing money and time, especially to smaller corporations.

258
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I mean, if you look at smaller businesses versus large businesses,

259
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you cannot cannot have the same regulations all the time.

260
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Big companies have the ability, the money to have the compliance,

261
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to have the people they're doing those things. And it's

262
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much harder when people order big companies than it is

263
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small companies. Small companies. If you if you you can

264
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pick up things a lot easier. Regulations are there to

265
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go ahead and defray fraud and to make sure that

266
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people are able to keep the clients the customers safe

267
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from things happening. Obviously, whether it's from healthcare, whether it's

268
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from a financial situation, no matter what it is is

269
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you don't want bad actors, and you need some regulation.

270
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But cutting some regulation, getting rid of your regulation, that

271
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is just tremendous amount. We don't need it. Okay, coming

272
00:16:12.799 --> 00:16:15.600
up with an immigration policy has almost been impossible. If

273
00:16:15.639 --> 00:16:17.879
we can do that, there would be great. I know,

274
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we're shutting the borders, and I know we're going to

275
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be getting rid of people that are problems, especially the

276
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the criminals that have been allowed in, terrorist type that

277
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have been allowed in. You know, let's get rid of them.

278
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We need to increase our ability to keep us safe.

279
00:16:41.279 --> 00:16:43.840
I mean, obviously we saw that down into Sugar Bowl.

280
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I mean, come on, I cannot believe it's still doing

281
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this stuff. And we have crazy people. And that was

282
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a you know, I was a legal American citizen, but

283
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somehow he became isis type of person and decided he

284
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wanted to create terror. You know, we went there to

285
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kill himself because when he got out of the truck,

286
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he came out shooting. He had to quit. You know,

287
00:17:09.079 --> 00:17:12.920
thank god nothing else happened and there was no no

288
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bombs going off and stuff like that. But then you

289
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see at the Lads Vegas in front of the Trump

290
00:17:18.279 --> 00:17:24.640
Plaza in a a Tesla truck blown up. These things

291
00:17:24.640 --> 00:17:26.839
are gonna come happening, and we gotta be careful and

292
00:17:26.880 --> 00:17:30.240
we got ahead. We gotta watch what we're doing and everything.

293
00:17:30.279 --> 00:17:32.839
I mean, you know, it's New Year's Eve. I get

294
00:17:32.839 --> 00:17:35.400
at three o'clock in the morning on Bourbon Street. There's

295
00:17:35.440 --> 00:17:39.680
a good time if you can stay up that late. However,

296
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we all know things after twelve o'clock midnight and things afterwards,

297
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that's when bad things happen, unfortunately, And you know, maybe

298
00:17:50.519 --> 00:17:52.440
we got to be a little smarter about what we're doing,

299
00:17:52.519 --> 00:17:55.359
how we're doing it, and where we're doing it for

300
00:17:55.359 --> 00:17:58.440
a while. But we need the FBI, we need a

301
00:17:58.519 --> 00:18:03.759
police forces. We need the ability to vet these people

302
00:18:04.039 --> 00:18:06.880
and if there are people, if we see things are there.

303
00:18:07.039 --> 00:18:10.720
We got to stop worrying about, oh we're profiling and

304
00:18:10.799 --> 00:18:14.240
we're doing something. We need to check out these incidents

305
00:18:14.279 --> 00:18:17.559
because I'm telling you it's okay from a far you

306
00:18:17.599 --> 00:18:19.480
look at oh that's a shame, and you let it go.

307
00:18:20.039 --> 00:18:22.160
But if that was your brother, if that was your sister,

308
00:18:22.279 --> 00:18:26.039
if that was your father or mother that was killed

309
00:18:26.079 --> 00:18:31.400
in any of these incidences, your attitude behind this would

310
00:18:31.400 --> 00:18:34.720
be totally different. And that's how we always have to

311
00:18:34.759 --> 00:18:37.480
look at things, is if that was me, if that

312
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was somebody that I love, somebody I cared about somebody

313
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I knew that got killed by one of these terrorist

314
00:18:46.960 --> 00:18:54.680
isis blow up vehicles, useless, senseless type of crimes, being

315
00:18:54.759 --> 00:18:58.160
gunned down in these places because of a mental health

316
00:18:58.240 --> 00:19:02.599
whatever it is. You would want things changed, immediately, want

317
00:19:02.640 --> 00:19:05.279
things changed. And that's where we need to go with this.

318
00:19:05.359 --> 00:19:08.240
We need to be changing how we look at things,

319
00:19:08.720 --> 00:19:12.279
what we're doing, how we're doing it, and making sure

320
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that on the other side, we start building America the

321
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way we need it to do. I'm excited, though, I'm

322
00:19:21.400 --> 00:19:24.279
excited for changes. I'm excited to see what we're gonna

323
00:19:24.279 --> 00:19:29.759
do with education. I'm all all in on changing education.

324
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I'm a big believer when things are not doing well,

325
00:19:34.200 --> 00:19:38.079
don't keep doing the same thing. Change it. Take a

326
00:19:38.079 --> 00:19:42.880
little risk, see analyze what's there. The student today is

327
00:19:42.920 --> 00:19:45.880
not the student from twenty years ago, and certainly not

328
00:19:45.920 --> 00:19:51.319
the student from fifty years ago. The student today is

329
00:19:51.559 --> 00:19:55.119
very different. The way they interact, the way they socialize,

330
00:19:55.160 --> 00:19:56.920
the way they get their news, the way they learn

331
00:19:57.000 --> 00:20:01.400
stuff is totally different. Mean, we don't have some old

332
00:20:01.400 --> 00:20:05.440
school ways of doing things, but somehow, some way we

333
00:20:05.559 --> 00:20:08.839
need to bring in education and make people get excited

334
00:20:09.119 --> 00:20:12.079
about what they're looking for. We never liked school, but

335
00:20:12.200 --> 00:20:17.799
we never went through and wanted to fail out. It

336
00:20:17.880 --> 00:20:21.359
was embarrassing. We were left back. If you didn't do well,

337
00:20:21.480 --> 00:20:25.599
that was embarrassing. Not graduating with your friends, that was embarrassing.

338
00:20:25.640 --> 00:20:28.759
No different than when when you're when people found out,

339
00:20:29.400 --> 00:20:32.240
like if your dad lost your job or was laid off,

340
00:20:32.640 --> 00:20:36.400
it was embarrassing. No, you didn't want to tell people.

341
00:20:37.079 --> 00:20:39.680
Your parents were embarrassed. They wanted to find another job.

342
00:20:39.720 --> 00:20:42.839
They wanted to get going because they felt accountable for

343
00:20:42.880 --> 00:20:49.319
the family. Today's world is different. They look at almost

344
00:20:49.519 --> 00:20:53.319
as getting government assistance as a badge of honor, not

345
00:20:53.480 --> 00:20:56.400
as an embarrassment, not as something like I want to

346
00:20:56.400 --> 00:20:59.440
get out of this, I need it, I'm gonna take it.

347
00:20:59.559 --> 00:21:02.400
We're gonna work hard to get out of it. No,

348
00:21:02.480 --> 00:21:06.039
it's like give me more, give me more, give me more,

349
00:21:06.119 --> 00:21:10.079
give me the handout. Oh, and everybody owes me. Now,

350
00:21:10.119 --> 00:21:12.680
look what's happened. It's gone down to the sports world.

351
00:21:14.799 --> 00:21:20.640
We have taking a great game of college football, of

352
00:21:20.720 --> 00:21:24.319
the pageantry and the excitement, and we have lowered it

353
00:21:24.400 --> 00:21:33.440
down to entitled, non accountable, narcissistic type of players. Not all,

354
00:21:33.880 --> 00:21:37.119
but most, how much can you pay me. I don't

355
00:21:37.200 --> 00:21:39.359
like this coach. I don't like the way he yelled

356
00:21:39.359 --> 00:21:42.000
at me. I'm leaving the school and going someplace else.

357
00:21:42.640 --> 00:21:45.920
Oh guess what. The grass is not always greener on

358
00:21:45.960 --> 00:21:48.240
the other side. And if you can't do it at

359
00:21:48.240 --> 00:21:50.039
one place, the chances are you're not going to do

360
00:21:50.079 --> 00:21:53.200
it at another place. That's what they got to start doing,

361
00:21:53.279 --> 00:21:56.480
is look at the statistics of people actually leaving and

362
00:21:56.519 --> 00:21:59.680
going to other places and really making a difference. It's

363
00:21:59.720 --> 00:22:03.319
because being smaller and smaller and smaller. I get it.

364
00:22:03.359 --> 00:22:06.079
With quarterbacks, you know you're behind some good quarterbacks, you're

365
00:22:06.079 --> 00:22:10.160
a great quarterback. You want an opportunity to go someplace else. However,

366
00:22:12.480 --> 00:22:15.279
we will no longer know or be able to cheer

367
00:22:15.359 --> 00:22:17.519
for the same people over and over. It happened with

368
00:22:17.559 --> 00:22:19.960
the one and duns. In basketball. You end up not

369
00:22:20.000 --> 00:22:22.599
even knowing who's on the team. There's no development of

370
00:22:22.680 --> 00:22:26.559
relationships anymore, no different than outside of sports. There's no

371
00:22:26.960 --> 00:22:30.799
development of relationships. You wonder why so many people wander

372
00:22:30.839 --> 00:22:35.559
and get divorced. Nobody knows how to develop relationships. No bonding,

373
00:22:35.759 --> 00:22:41.400
no close lists, no truth, no transparency. It's all about

374
00:22:41.440 --> 00:22:45.640
today and what we can get today, and we need

375
00:22:45.680 --> 00:22:48.039
to change that, and the government needs to change the

376
00:22:48.039 --> 00:22:49.799
way they look at things if we're going to be

377
00:22:49.839 --> 00:22:57.119
successful in our way of growing our economy and lasting. Okay,

378
00:22:57.359 --> 00:23:00.799
we've been around America a long time as number one,

379
00:23:01.000 --> 00:23:03.119
as the number one economy, and believe me, everyone in

380
00:23:03.160 --> 00:23:05.359
the world wants to knock us down. If we want

381
00:23:05.400 --> 00:23:07.559
to stay there, we got to stay there with technology.

382
00:23:07.759 --> 00:23:09.720
We got to stay there with taking risks. We got

383
00:23:09.759 --> 00:23:12.039
to stay there with power. We got to stay there

384
00:23:12.240 --> 00:23:14.920
by being in the forefront of doing the right thing

385
00:23:15.400 --> 00:23:18.359
as much as we can. But the people of America

386
00:23:18.440 --> 00:23:22.119
got to get stronger. We're weak, we show weakness. We

387
00:23:22.160 --> 00:23:24.559
want handouts, we want to get on our feet. We

388
00:23:24.640 --> 00:23:26.160
got to do the things that are right and our

389
00:23:26.160 --> 00:23:29.720
economy can go. We don't want to go ahead and

390
00:23:29.960 --> 00:23:32.640
just give out money to people. We want to bring

391
00:23:32.759 --> 00:23:36.759
up income for everybody because we are more productive. And

392
00:23:36.839 --> 00:23:41.240
when we do that, our country will thrive. And if

393
00:23:41.240 --> 00:23:44.319
our country thrives, the people of America will be happy

394
00:23:44.599 --> 00:23:47.319
and everybody will live in as times like the nifty fifties,

395
00:23:47.319 --> 00:23:49.839
where you can go on vacation, have fun with your family,

396
00:23:50.160 --> 00:23:53.839
pay it bills, save and the next generation of your

397
00:23:53.920 --> 00:23:57.880
children and grandchildren can have a better life than us.

398
00:23:58.359 --> 00:24:01.079
That's the American way. That's the way most of us

399
00:24:01.119 --> 00:24:04.000
have been brought up, and that is what's missing going forward.

400
00:24:04.039 --> 00:24:06.519
We'll be back with the rest of the group and

401
00:24:06.640 --> 00:24:10.319
talk to you about what's going to happen in twenty

402
00:24:10.440 --> 00:24:15.960
twenty five. Happy New Year to everybody. Welcome back, everybody.

403
00:24:16.000 --> 00:24:18.079
This is the Bunny Boy Show. This is Dean Greenberg,

404
00:24:18.119 --> 00:24:20.799
and I got Dave Sherwood and Sebastian will be joining

405
00:24:20.880 --> 00:24:24.559
us a little bit later. Todd and Dylan took the

406
00:24:25.240 --> 00:24:26.799
day off and went's keying.

407
00:24:26.640 --> 00:24:29.079
O, messing around like all the all the other young

408
00:24:29.079 --> 00:24:33.240
people with no work ethic. And yeah, we've been working

409
00:24:33.440 --> 00:24:35.359
and we start the year with a day off. So

410
00:24:35.400 --> 00:24:37.240
what kind of a message is that sending.

411
00:24:37.079 --> 00:24:39.119
Right, What do you mean, I'm here at work ethic.

412
00:24:39.200 --> 00:24:40.200
Oh there he is, there he is.

413
00:24:40.480 --> 00:24:42.119
He came in, sebastioned.

414
00:24:42.319 --> 00:24:45.319
Not busy week. Last week, Jimmy Carter passes away. We

415
00:24:45.440 --> 00:24:49.519
turned to twenty twenty five New Orleans. That that's craziness

416
00:24:49.519 --> 00:24:53.880
in New Orleans. That's just there's just so many whack

417
00:24:53.960 --> 00:24:54.640
jobs out there.

418
00:24:54.680 --> 00:24:57.480
It's just and that's scary. You know, I've been to

419
00:24:57.519 --> 00:25:00.680
the Sugar Bowl a couple of times. Okay, and you know,

420
00:25:00.720 --> 00:25:03.880
Bourbon Street's fun. It's New Year's Eve, you're out. I know,

421
00:25:04.000 --> 00:25:06.119
three o'clock seems late on the normal night, but on

422
00:25:06.119 --> 00:25:07.720
New Year's Eve, it's not because you don't go out

423
00:25:07.759 --> 00:25:09.680
till later. Yeah, you know, you go out nine to

424
00:25:09.759 --> 00:25:12.599
ten o'clock. That's when you start. New Year's Eve comes,

425
00:25:12.599 --> 00:25:14.960
you're excited, you're pumped up, you're having a great time.

426
00:25:15.000 --> 00:25:19.000
Everyone's partying and boom. But the thing that what surprised

427
00:25:19.039 --> 00:25:22.599
me is that they didn't have their barriers up because

428
00:25:22.599 --> 00:25:25.480
they said they were redoing the barriers for the super Bowl.

429
00:25:26.200 --> 00:25:30.000
Well I scratched my head and go, okay, the super

430
00:25:30.039 --> 00:25:32.839
bowls down in a week and in about a month

431
00:25:32.839 --> 00:25:36.599
from now. Okay, but New Year's Eve is just as crowded,

432
00:25:36.640 --> 00:25:40.200
if not more than the super Bowl. Yeah, and you're

433
00:25:40.240 --> 00:25:43.200
not going to have barriers up for terrorist attacks like this.

434
00:25:43.400 --> 00:25:45.599
It's a shame. That was just it's just a shame

435
00:25:45.680 --> 00:25:47.400
that someone would think to do that, and.

436
00:25:48.880 --> 00:25:49.279
Awful.

437
00:25:50.039 --> 00:25:51.920
And then you had another one in Vegas right at

438
00:25:51.920 --> 00:25:52.640
the Trump Hotel.

439
00:25:53.359 --> 00:25:56.440
Well that's not political. Politically, driven, I don't know what

440
00:25:56.559 --> 00:25:58.799
is and elion musking in front of the Trump.

441
00:25:59.240 --> 00:26:01.160
I thought you were gonna say it wasn't politically driven.

442
00:26:01.160 --> 00:26:01.680
How could it not.

443
00:26:01.839 --> 00:26:03.319
I was talking to a guy this morning. He said

444
00:26:03.319 --> 00:26:06.400
that the truck was owned by a guy who was

445
00:26:06.440 --> 00:26:11.680
pretty competent with ammunitions and had what fireworks and explosives

446
00:26:11.720 --> 00:26:15.400
and gasoline in the back of the pickups. And why

447
00:26:15.400 --> 00:26:18.839
would he somebody who has knowledge of explosives want to

448
00:26:18.839 --> 00:26:20.039
blow themselves up.

449
00:26:20.000 --> 00:26:25.400
Because that's what they do, these suicide attacks, that's what

450
00:26:25.440 --> 00:26:25.640
they do.

451
00:26:25.759 --> 00:26:28.240
Well that if it was a terrorist, I don't know

452
00:26:28.279 --> 00:26:30.079
anything about the guy, and uh.

453
00:26:30.079 --> 00:26:32.759
Well, I'm not sure what would I don't care, I mean, okay,

454
00:26:32.839 --> 00:26:36.039
then call him a home ground a homegrown terrorist. That's

455
00:26:36.079 --> 00:26:38.839
a terrorist. Is another one that wants to blow themselves

456
00:26:38.880 --> 00:26:42.319
up in front of a hotel in a truck and

457
00:26:42.319 --> 00:26:45.279
not get out. One is a coward in my eyes

458
00:26:45.359 --> 00:26:48.039
because he doesn't he doesn't care about living anymore, and

459
00:26:48.079 --> 00:26:51.519
he thinks that there's something after them, and he's an idiot, okay.

460
00:26:52.079 --> 00:26:56.640
And then two has no regards for life.

461
00:26:57.000 --> 00:26:58.559
The kind I was talking to you said he thought

462
00:26:58.599 --> 00:27:03.799
it was an accident that the guy you know, but whatever, Yeah.

463
00:27:03.799 --> 00:27:07.759
Why would that be full of ammunition and gasoline.

464
00:27:07.160 --> 00:27:09.680
And fireworks and all this craw like in front of.

465
00:27:09.599 --> 00:27:16.279
The Trump Hotel in a Tesla rights, It's uh. I

466
00:27:16.279 --> 00:27:18.359
guess we'll learn more as we go along, right.

467
00:27:18.440 --> 00:27:21.319
You know what, I'm no longer gonna listen to anything

468
00:27:21.319 --> 00:27:23.920
that comes out. I'm gonna just look out and say, Okay,

469
00:27:23.920 --> 00:27:25.799
this is what I'm saying logically, logic.

470
00:27:25.880 --> 00:27:27.880
It's honestly hard to do that though, Like with all

471
00:27:27.880 --> 00:27:31.119
the bias that the media agency's push, it's hard to

472
00:27:31.119 --> 00:27:32.359
look at something objectively.

473
00:27:32.440 --> 00:27:34.640
Now, we still don't know how that guy shot Trump

474
00:27:34.720 --> 00:27:35.240
the first time.

475
00:27:35.359 --> 00:27:37.440
Okay, I haven't heard anything, all right.

476
00:27:38.039 --> 00:27:41.000
I mean, the only thing that's that's divine in that

477
00:27:41.079 --> 00:27:48.039
whole thing is he is he shot shot? I mean,

478
00:27:48.920 --> 00:27:51.759
how close is that? You can't get any closer? I

479
00:27:51.839 --> 00:27:56.359
was just then? They I mean, I don't I can't

480
00:27:56.440 --> 00:28:00.119
in fathom how that happened. He turned his head. He

481
00:28:00.160 --> 00:28:03.000
wasn't supposed to die, obviously, but what was this guy

482
00:28:03.039 --> 00:28:04.799
doing there? We still don't know. We still don't know

483
00:28:04.839 --> 00:28:06.359
the answers how we got there? Why do you know?

484
00:28:06.440 --> 00:28:07.960
How do he do it? How'd the guy know it?

485
00:28:08.000 --> 00:28:09.400
In the fence too, and he.

486
00:28:09.400 --> 00:28:11.839
Hadn't turned his head and he would have been killed

487
00:28:12.119 --> 00:28:13.440
right there, right there.

488
00:28:13.880 --> 00:28:15.680
What our world it would have been like, well, like

489
00:28:15.799 --> 00:28:19.519
Kennedy and you would have seen it and much more vivid.

490
00:28:19.799 --> 00:28:22.960
Remember when the press secretary came out, she didn't even

491
00:28:23.000 --> 00:28:25.319
want to talk about it when all that stuff was happening.

492
00:28:25.519 --> 00:28:29.880
Of course not it's it's it's very strange, it is,

493
00:28:29.920 --> 00:28:31.279
and we still don't know answers.

494
00:28:31.440 --> 00:28:34.119
No, we got a lot of bouncing around over the

495
00:28:34.200 --> 00:28:37.799
last two weeks with the holidays bring light volume, and

496
00:28:37.839 --> 00:28:40.640
would light volume comes high volatility often, right, do you know?

497
00:28:41.119 --> 00:28:43.200
I don't think it's going to stop. It probably won

498
00:28:43.559 --> 00:28:46.359
I think we're in that part of the markets right

499
00:28:46.400 --> 00:28:49.880
now where you're seeing. This is what I see from

500
00:28:49.880 --> 00:28:54.000
my experience. I see every time we're selling, getting some rallies,

501
00:28:54.039 --> 00:28:58.640
one of two day rallies. I'm seeing selling coming into it. Okay,

502
00:28:58.759 --> 00:29:01.359
the text stocks get selling, and then you get these

503
00:29:01.480 --> 00:29:03.559
day traders that come in to buy it back, and

504
00:29:03.599 --> 00:29:05.759
then they come out again. A lot of trading going

505
00:29:05.759 --> 00:29:07.839
on at these levels. I watched Metago back and forth.

506
00:29:07.839 --> 00:29:09.920
I watched the video go back and forth. You know,

507
00:29:09.960 --> 00:29:12.640
good quality companies that people will buy, but as soon

508
00:29:12.640 --> 00:29:15.000
as they rally five six ten points to get out again,

509
00:29:15.440 --> 00:29:18.519
you know what I mean. So the selling is very

510
00:29:18.759 --> 00:29:22.720
very strong as these markets go, as they go higher,

511
00:29:23.319 --> 00:29:26.720
we are priced to perfection in technology, absolutely price of

512
00:29:26.799 --> 00:29:28.599
perfection and earnings are going to come out, and I

513
00:29:28.640 --> 00:29:31.200
would be nervous. And that's why I think there's volatility.

514
00:29:31.440 --> 00:29:36.559
But volatility brings what opportunity If you have what patients

515
00:29:36.880 --> 00:29:40.880
patience means, wait, you will have it. If you do

516
00:29:41.000 --> 00:29:43.200
not get it and the markets just go up, all

517
00:29:43.240 --> 00:29:46.559
you're gonna have is fomo. I'm not Fomo doesn't kill you.

518
00:29:46.680 --> 00:29:51.440
Fomo doesn't lose money unless you have to go ahead

519
00:29:51.519 --> 00:29:51.960
and buy.

520
00:29:52.759 --> 00:29:55.119
And when formo, if you get involved in fomo, fear

521
00:29:55.160 --> 00:29:58.079
almost fear missy now right right, If you get involved

522
00:29:58.079 --> 00:30:00.880
in fomo, you can have something like a Costco. They

523
00:30:01.000 --> 00:30:02.880
ran up to one thousand bucks a share. Now it

524
00:30:02.880 --> 00:30:06.000
comes back to nine hundred for no reason. Really, everything's

525
00:30:06.000 --> 00:30:08.960
going well at Costco. Eli Lilly ran up, ran up,

526
00:30:08.960 --> 00:30:13.720
and it's dropped twenty percent. Two great companies with great products.

527
00:30:13.759 --> 00:30:15.799
Right. When I see those things, that's when I say, Okay,

528
00:30:15.839 --> 00:30:18.039
some of these companies can go down thirty forty fifty,

529
00:30:18.920 --> 00:30:21.880
and they'll look for those opportunities easily, right easily, because

530
00:30:21.920 --> 00:30:23.799
they will be sold off for the great big moves

531
00:30:23.799 --> 00:30:24.519
that they made up.

532
00:30:24.720 --> 00:30:27.759
Sure, and there there is no underpinning when you have

533
00:30:27.799 --> 00:30:31.319
a stock that's fifty times earnings starts telling talking about.

534
00:30:31.079 --> 00:30:35.079
Some of them that pig rally down. Now AMD, AMD

535
00:30:35.200 --> 00:30:36.599
got over two hundred.

536
00:30:36.400 --> 00:30:37.480
And he's gotten crushed.

537
00:30:37.519 --> 00:30:38.519
AMD has gotten crushed.

538
00:30:38.599 --> 00:30:40.359
Right, it's down on one twenty and it's in the

539
00:30:40.480 --> 00:30:42.160
text department, it's in the chip.

540
00:30:42.160 --> 00:30:44.640
But that's also because it was price to perfection, right.

541
00:30:44.559 --> 00:30:47.759
Right, But it's eighty it's down eighty points and and

542
00:30:47.759 --> 00:30:50.279
and down for the year right down.

543
00:30:50.079 --> 00:30:53.400
Eight the year points. So what is eighty points on

544
00:30:53.480 --> 00:30:55.079
that that that's uh what.

545
00:30:56.680 --> 00:31:00.720
Yeah? The the but you got intel, yeah right, AMD.

546
00:31:00.519 --> 00:31:03.359
It tells it. Well, we said stay away for Midtel. Yeah.

547
00:31:03.400 --> 00:31:06.440
I mean until once they started having their problems, is down,

548
00:31:06.440 --> 00:31:08.559
and then they had a knife bop from twenty back

549
00:31:08.599 --> 00:31:10.440
to twenty five and a half and then is back

550
00:31:10.480 --> 00:31:13.160
down again. Then okay, so I mean you got to

551
00:31:13.200 --> 00:31:15.000
be careful which ones are in just because the down

552
00:31:15.039 --> 00:31:17.319
doesn't mean they're going to be great great companies. If

553
00:31:17.359 --> 00:31:18.640
you're going to be in the chip area, you know

554
00:31:18.640 --> 00:31:21.119
where to be. Okay, there's two of them right now,

555
00:31:21.240 --> 00:31:25.759
broad Common and uh and uh the video yeah you know.

556
00:31:25.880 --> 00:31:28.160
Yeah, but I don't know. I think the market's getting

557
00:31:28.160 --> 00:31:30.079
a little bit saturated with the video. I think AMD,

558
00:31:30.559 --> 00:31:33.200
like you're just saying that they could become a competitor

559
00:31:33.799 --> 00:31:34.480
at some time.

560
00:31:34.720 --> 00:31:36.599
But if we have a sell off, what would you rather.

561
00:31:36.400 --> 00:31:38.119
Buy AMDR in video?

562
00:31:38.400 --> 00:31:42.240
Yeah? In video? Okay, exactly, yeah, because then video is

563
00:31:42.240 --> 00:31:44.119
the ones where the money will flow back in, right

564
00:31:44.839 --> 00:31:47.279
my I know and David knows. We've been around a

565
00:31:47.279 --> 00:31:49.039
long time and one of the things I've always done

566
00:31:49.039 --> 00:31:52.799
when we've had big sell offs twenty which I'm not

567
00:31:52.839 --> 00:31:55.279
saying that's going to happen, but when it does, I

568
00:31:55.319 --> 00:31:58.119
sell all my crap growth stocks, the ones that aren't

569
00:31:58.119 --> 00:32:00.599
working that I'm down on, take those loss and I

570
00:32:00.680 --> 00:32:03.319
go into the good quality stocks. That's the first step

571
00:32:03.359 --> 00:32:05.160
I do, because those are the ones that the world

572
00:32:05.200 --> 00:32:07.519
will buy. The world will come in and buy the

573
00:32:07.559 --> 00:32:09.359
doll stocks. And if you don't want to buy the stocks,

574
00:32:09.640 --> 00:32:13.200
buy the the diamonds, which is the Dow Jones, Buy

575
00:32:13.240 --> 00:32:15.039
the s and p Those are the ones that are

576
00:32:15.039 --> 00:32:18.599
going to rally back. Okay, then as they do, then

577
00:32:18.640 --> 00:32:20.640
you can go off and slough off to some of

578
00:32:20.680 --> 00:32:23.359
the other ones that they didn't move, and the money

579
00:32:23.400 --> 00:32:24.759
go and then they stop moving.

580
00:32:25.119 --> 00:32:27.359
Now, you're absolutely right, but we are we are so

581
00:32:27.519 --> 00:32:29.839
far from that, Dean. And because we haven't even had

582
00:32:29.880 --> 00:32:32.680
a pullback, I know so, but you're absolutely right. When

583
00:32:32.680 --> 00:32:34.359
there is a big pullback, that's what you want to

584
00:32:34.400 --> 00:32:35.880
be buying, because right, but.

585
00:32:35.920 --> 00:32:38.519
Like Sebastian was saying, and it's that market if you

586
00:32:38.559 --> 00:32:41.000
take a little money off in Navidia because it's so high,

587
00:32:41.200 --> 00:32:45.799
and you can nibble at amd okay because it's low.

588
00:32:45.839 --> 00:32:48.000
But don't think that it's hit bottom yet because it

589
00:32:48.079 --> 00:32:51.400
might not have. Sometimes people think it's hit bottom because

590
00:32:51.519 --> 00:32:53.279
you know some of the research that we get they said,

591
00:32:53.279 --> 00:32:54.960
buy it at one forty, buy it at one thirty.

592
00:32:55.599 --> 00:32:56.839
Then they said, hell, well they get out of.

593
00:32:56.839 --> 00:33:01.079
It, threw in the towel, never mind. This is the

594
00:33:01.400 --> 00:33:02.720
terrible idea, well.

595
00:33:02.480 --> 00:33:05.319
Because look at it the new year and saying we

596
00:33:05.359 --> 00:33:07.960
can come back to it. But there's other stocks here

597
00:33:08.000 --> 00:33:08.720
that are better right now.

598
00:33:08.799 --> 00:33:12.759
Yes, yeah, there's no reason to wait like that. Oil

599
00:33:12.839 --> 00:33:15.759
up three dollars and forty cents to seventy four dollars.

600
00:33:16.960 --> 00:33:20.640
I'm told as I've read about is declining US inventories. Now,

601
00:33:20.880 --> 00:33:23.240
I've got two things that are seeing me to working

602
00:33:23.279 --> 00:33:26.559
against oil. Number one is the Trump administration, which should

603
00:33:26.559 --> 00:33:30.319
be uh should should bring on more supply right, which

604
00:33:30.319 --> 00:33:33.599
will lower the price. And China, which is really struggling,

605
00:33:33.640 --> 00:33:36.000
which should keep the price down. And yet the price

606
00:33:36.079 --> 00:33:40.079
is going higher. And they said because of declining US inventories.

607
00:33:40.119 --> 00:33:42.440
And I'm thinking, this is the slowest time of the

608
00:33:42.480 --> 00:33:45.960
year for always have an excuse for trading up oil. Yeah,

609
00:33:46.000 --> 00:33:48.160
this is the slowest time of the year for oil usage.

610
00:33:48.279 --> 00:33:50.200
How are we having declining US inventory?

611
00:33:50.279 --> 00:33:53.680
Let's talk about China. Yeah, be had economy struggling, stock

612
00:33:53.720 --> 00:33:57.240
market is getting killed, struggling. Interest rates are so low

613
00:33:57.359 --> 00:33:59.119
right now, they're going to keep low in interest rates

614
00:33:59.160 --> 00:34:01.279
and they can't get out of their own way. So

615
00:34:01.799 --> 00:34:03.960
when you sit there and you talk about how bad

616
00:34:04.599 --> 00:34:10.440
capitalism is, think about how bad communism is and socialism.

617
00:34:10.719 --> 00:34:13.840
It doesn't work people, So stop talking to about people

618
00:34:13.960 --> 00:34:16.760
being capitalist pigs. And all we care about is money

619
00:34:16.920 --> 00:34:18.960
and money hungry people, and that's who's going to be

620
00:34:19.039 --> 00:34:21.239
running the country, because you know what, at the end

621
00:34:21.280 --> 00:34:23.679
of the day, if they ain't running the country, you're

622
00:34:23.719 --> 00:34:26.000
going to be in a socialist situation. And you're not

623
00:34:26.039 --> 00:34:29.599
gonna like that any better. Yeah, unless you just just

624
00:34:29.639 --> 00:34:31.960
one handouts over and over and over again.

625
00:34:32.079 --> 00:34:34.079
I agree with the gold was up twenty seven bucks

626
00:34:34.119 --> 00:34:36.239
on the week the twenty six forty five. Bitcoin got

627
00:34:36.280 --> 00:34:39.159
a nice pop four percent, moving back towards one hundred grand.

628
00:34:40.440 --> 00:34:42.960
There's a lot of pundits out there, a majority of

629
00:34:43.000 --> 00:34:45.960
them see bitcoin doubling in twenty twenty five.

630
00:34:46.079 --> 00:34:46.679
They're all talking.

631
00:34:46.880 --> 00:34:49.280
They see the pundits.

632
00:34:49.559 --> 00:34:51.599
They've been saying it, David. They've been right, and they've

633
00:34:51.599 --> 00:34:54.119
been asking right and wrong, right and wrong. You know,

634
00:34:54.480 --> 00:34:56.559
you know, every few years and it gets cut almost

635
00:34:56.599 --> 00:34:58.760
in half and then rallies all the way back in doubles.

636
00:34:59.079 --> 00:35:01.639
So we'll see you. Remember. The other thing, too, is

637
00:35:01.679 --> 00:35:05.280
I'm a big buff on looking back at history and

638
00:35:05.400 --> 00:35:08.320
history repeating itself. And I keep talking about this, how

639
00:35:08.400 --> 00:35:11.880
history is looking like you can repeat itself again from

640
00:35:11.920 --> 00:35:15.039
the pandemic, out of the pandemic, the roaring twenties. Man,

641
00:35:15.239 --> 00:35:17.480
we are setting ourselves up with Trump and this stuff

642
00:35:17.519 --> 00:35:20.679
that if we have any real big decline. Rally with

643
00:35:20.719 --> 00:35:22.320
it for the next four or five years, because it

644
00:35:22.360 --> 00:35:25.639
will be one hell of a ride once we go

645
00:35:25.719 --> 00:35:29.480
through that. Be patient. Hold on. Cash is good right

646
00:35:29.519 --> 00:35:31.800
now you can get four and a half percent, You

647
00:35:32.320 --> 00:35:34.440
and your opportunities would be there. We'll be right back.

648
00:35:34.599 --> 00:35:39.599
Thank you for listening to The Money Matter Show. Welcome back, everybody.

649
00:35:39.800 --> 00:35:42.880
This is the Money Matter Show. We got Dave, myself,

650
00:35:42.920 --> 00:35:44.159
Dean and Sebastian here.

651
00:35:45.320 --> 00:35:48.719
Everybody else is stop playing having some fun. It's all right.

652
00:35:48.719 --> 00:35:51.039
They work hard. Time of the year, yep, time of

653
00:35:51.039 --> 00:35:52.000
the year to have a little fun.

654
00:35:52.480 --> 00:35:54.199
Yep, you were gone, you were gone for a little

655
00:35:54.239 --> 00:35:54.840
Christmas time.

656
00:35:55.199 --> 00:35:58.400
Day after tomorrow is the first real working day of

657
00:35:58.440 --> 00:36:01.360
twenty twenty five, and away will go. Yeah, when everybody

658
00:36:01.400 --> 00:36:02.960
comes back from there two to three.

659
00:36:02.760 --> 00:36:04.679
Weeks now, they're going to look at us a number

660
00:36:04.679 --> 00:36:05.920
holiday because we're off on Thursday.

661
00:36:06.079 --> 00:36:09.639
That's a good point, like I have. It's crazy, isn't it.

662
00:36:09.639 --> 00:36:11.960
It's gonna come back and let's go. Well not quite.

663
00:36:12.400 --> 00:36:14.400
Wait, so is that now going to be a federal holiday?

664
00:36:14.719 --> 00:36:17.760
No, No, it's just one day.

665
00:36:17.880 --> 00:36:19.360
Well, it's going to be a four day holiday for

666
00:36:19.400 --> 00:36:20.840
a lot of people. Because I guarantee you a lot

667
00:36:20.840 --> 00:36:23.079
of people said, hey, I'm not coming on Friday. They'll

668
00:36:23.079 --> 00:36:25.000
take off on Thursday and go away for four.

669
00:36:25.320 --> 00:36:28.000
For us, we have to we the market's closed, we

670
00:36:28.000 --> 00:36:29.239
don't have to be here, but we're still going to

671
00:36:29.280 --> 00:36:30.480
be here. We have a couple of meetings. But the

672
00:36:30.599 --> 00:36:33.360
banks have to stay open. They're close to they're closed.

673
00:36:33.559 --> 00:36:36.840
Oh yeah, federal office is closed. Federal holiday. It's great

674
00:36:37.239 --> 00:36:38.960
national day of a morning.

675
00:36:40.159 --> 00:36:40.920
Blessed, Hm Carter.

676
00:36:41.800 --> 00:36:47.039
Well, it's a I had quite a life, was apparently one.

677
00:36:47.199 --> 00:36:50.199
It seemed like he was a really really good human being.

678
00:36:51.119 --> 00:36:55.360
Not a great president by most measures, right, a good

679
00:36:55.400 --> 00:36:58.239
human being and lived one hundred years and most of

680
00:36:58.280 --> 00:37:01.599
it pretty comfortably and pretty good gig. If you ask me,

681
00:37:02.360 --> 00:37:03.800
not sure what we're morning.

682
00:37:03.480 --> 00:37:05.760
Other than next of the day off, I guess.

683
00:37:05.719 --> 00:37:09.000
I'd be a national day celebration for Jimmy. Good job Jimmy.

684
00:37:09.079 --> 00:37:11.280
And that is why they need to start. If I

685
00:37:11.320 --> 00:37:13.679
was in president, first thing I would do Election Day

686
00:37:14.039 --> 00:37:17.199
would be a national holiday. No more excuses that you

687
00:37:17.199 --> 00:37:19.480
can't get there, you've got to work and do stuff.

688
00:37:21.039 --> 00:37:24.079
Make it make it a national holiday. Go back to

689
00:37:24.159 --> 00:37:25.119
voting the way.

690
00:37:25.000 --> 00:37:27.360
It should be it just want you want everybody to

691
00:37:27.639 --> 00:37:29.519
drive down to the pole and stand in line.

692
00:37:29.840 --> 00:37:32.039
No, but if you're going to get you know, just

693
00:37:32.079 --> 00:37:33.880
don't send out all the ballots. You have to ask

694
00:37:33.880 --> 00:37:36.079
for the ballots. You know where I stand on all that.

695
00:37:36.440 --> 00:37:38.559
And then you can have a couple of weekends before

696
00:37:38.719 --> 00:37:43.519
two weekends before that you can have voting in person also,

697
00:37:43.719 --> 00:37:46.519
and then that's it. You want to vote, make it

698
00:37:46.559 --> 00:37:47.840
a priority.

699
00:37:47.400 --> 00:37:51.199
Yeah, everybody. I don't know what percentage of the vote

700
00:37:51.280 --> 00:37:53.519
is by mail now, but it's over fifty for sure.

701
00:37:53.760 --> 00:37:56.000
And that's okay because they've asked for it, you get it.

702
00:37:56.039 --> 00:37:59.119
You send it in and get it in early so

703
00:37:59.159 --> 00:38:01.639
they can actually so we don't have to wait a

704
00:38:01.679 --> 00:38:03.800
month to figure out who who wins.

705
00:38:04.119 --> 00:38:06.239
That's that's something I don't know that they're ever going

706
00:38:06.239 --> 00:38:08.480
to get that fixed. In Arizona. It seems like we have.

707
00:38:08.920 --> 00:38:13.280
We're leading the nation, and maybe that's because the elections

708
00:38:13.280 --> 00:38:16.440
here are closer like in California. You know the Democrats

709
00:38:16.480 --> 00:38:17.800
is going to win. You don't even need to vote

710
00:38:17.880 --> 00:38:19.559
count right, or is.

711
00:38:19.559 --> 00:38:21.719
It because we're forty eighth to the nation and education

712
00:38:23.280 --> 00:38:25.719
we just can't figure it out, David, because we can't

713
00:38:25.760 --> 00:38:28.320
figure out how to make our kids smarter, why would

714
00:38:28.440 --> 00:38:30.400
we make politicians smarter.

715
00:38:30.559 --> 00:38:32.159
That's a good point. That's a good point now on that.

716
00:38:32.239 --> 00:38:33.920
But we were the forty eighth state, right or with

717
00:38:34.000 --> 00:38:37.559
the forty eighth state to be to join the union.

718
00:38:37.639 --> 00:38:41.559
Yeah, maybe we're a union for the unions, the world unions.

719
00:38:41.679 --> 00:38:45.480
I am telling you, these unions right now are starting

720
00:38:45.480 --> 00:38:50.159
to hurt these small companies in Tucson too, the restaurants, well,

721
00:38:50.800 --> 00:38:55.199
the employees. Trying to get these employees who really don't

722
00:38:55.199 --> 00:38:59.880
want to be unionized unionized, the employees, the students, most

723
00:39:00.079 --> 00:39:02.360
of them. Okay, they want to make their money what

724
00:39:02.440 --> 00:39:04.159
they want, you know, you know what they really want,

725
00:39:04.239 --> 00:39:09.400
dave no taxes on tips that they would take. Okay,

726
00:39:09.599 --> 00:39:11.599
let me work my alts, let me have the keep

727
00:39:11.639 --> 00:39:14.519
my cash in my pocket, no taxes on tips, and

728
00:39:14.559 --> 00:39:16.960
go away. I don't want to be union. I I've

729
00:39:16.960 --> 00:39:21.400
asked everyone. I've asked attorneys, I've asked other people. What

730
00:39:21.639 --> 00:39:26.159
benefit does it have if a labor union comes in

731
00:39:26.239 --> 00:39:32.519
and presses the owner to be unionized? Okay, of course

732
00:39:32.519 --> 00:39:33.719
you got to go through the vault. Well, how do

733
00:39:33.760 --> 00:39:36.320
they get the votes? Don't tell me they're not going

734
00:39:36.360 --> 00:39:39.199
ahead and tantalizing. What the employee is there telling them

735
00:39:39.199 --> 00:39:41.239
all these things? But how does it help the employees?

736
00:39:41.960 --> 00:39:45.360
How does it help the customers? You unionize its employees,

737
00:39:45.599 --> 00:39:49.800
what happens? You become lazier yep? Okay, you just do

738
00:39:49.880 --> 00:39:51.679
what you want you got to get. You get paid

739
00:39:51.719 --> 00:39:55.079
more to do less, right yep? And then what happens

740
00:39:55.199 --> 00:39:59.320
the customers aren't happy because they're paying more for worse service.

741
00:40:00.039 --> 00:40:02.480
All right, So now the place closes anyway, Now you

742
00:40:02.480 --> 00:40:06.599
have an empty store, you have no job for people,

743
00:40:06.840 --> 00:40:10.800
you have an owner that can go bankrupt. Where does it.

744
00:40:10.840 --> 00:40:13.920
Help when you take incentives away? You can't prosper in life.

745
00:40:13.920 --> 00:40:15.440
I have a lot of like blue collar workers, and

746
00:40:15.639 --> 00:40:17.760
one of them is part of a union, and he

747
00:40:17.800 --> 00:40:19.679
talks to me about all of these people that are

748
00:40:19.679 --> 00:40:21.400
part of the union that get paid the exact same

749
00:40:21.519 --> 00:40:24.320
But he does, you know what, he thinks eighty five

750
00:40:24.360 --> 00:40:26.079
percent of the work and the other people do fifteen

751
00:40:26.079 --> 00:40:28.079
percent of work and they get the free ride. They're

752
00:40:28.119 --> 00:40:29.960
okay with it. They're not incentivized to work a little

753
00:40:30.000 --> 00:40:32.480
bit harder. It's kind of like pulling tips at a restaurant.

754
00:40:32.480 --> 00:40:34.480
Why would I ever want that a server that does

755
00:40:34.519 --> 00:40:37.360
good at my job, where's my incentive to be better

756
00:40:37.400 --> 00:40:38.000
at my job?

757
00:40:38.199 --> 00:40:43.000
There is none, you know along that line. Starbucks, of course.

758
00:40:43.360 --> 00:40:45.519
Yeah, that's a big one. That's a big one.

759
00:40:45.559 --> 00:40:50.440
That's a big one. Barista's in Bellingham, Washington successfully voted

760
00:40:50.480 --> 00:40:54.840
to unionize last week, marking the five hundred store to

761
00:40:54.960 --> 00:41:00.760
join Starbucks Workers United. Right, the union now represents more

762
00:41:00.800 --> 00:41:05.760
than eleven thousand baristas baristas around the country. But get this,

763
00:41:07.480 --> 00:41:13.320
less than three percent of Starbucks workers less than three percent. Wow, wow, yeah,

764
00:41:13.400 --> 00:41:16.599
less than three percent of Starbucks workers. How many, yeah,

765
00:41:17.360 --> 00:41:20.000
are represented by the union. Because you're hearing so much

766
00:41:20.039 --> 00:41:22.079
about this, it just seemed like every day.

767
00:41:22.119 --> 00:41:27.000
See how it benefits the customers or the or the employees.

768
00:41:27.119 --> 00:41:30.519
I don't understand it, because employees have to make decisions

769
00:41:30.559 --> 00:41:32.880
on what to do. If they can't afford it, they're

770
00:41:32.880 --> 00:41:35.079
gonna have to cut back employees. They do that, they're

771
00:41:35.079 --> 00:41:37.960
coming back on service. They got to charge more. It

772
00:41:38.000 --> 00:41:39.239
doesn't work for anyone.

773
00:41:39.320 --> 00:41:41.119
People don't see it that way. People just want to

774
00:41:41.199 --> 00:41:43.719
go to work, make their coffee and collect the check.

775
00:41:44.159 --> 00:41:44.360
You know.

776
00:41:45.159 --> 00:41:47.239
I don't think about how that's going to affect the

777
00:41:47.239 --> 00:41:47.840
coffee price.

778
00:41:47.840 --> 00:41:49.559
And I don't understand how they can go after these

779
00:41:49.599 --> 00:41:52.639
small car At least Starbucks is a big corporation, But

780
00:41:52.679 --> 00:41:57.320
they go after these individual small restaurant entrepreneurs that might

781
00:41:57.400 --> 00:41:59.920
have a two or three different stores or something like that,

782
00:42:00.360 --> 00:42:07.239
or different types of uh locations or different different venues,

783
00:42:07.280 --> 00:42:11.440
different things whatever, And they still go after them. And

784
00:42:11.440 --> 00:42:13.239
they're gonna kill it before we know, we're not gonna

785
00:42:13.280 --> 00:42:18.440
have anything here, but uh, the big, the big Starbucks.

786
00:42:17.920 --> 00:42:22.400
And who's the primary beneficiary of a union of unionizing?

787
00:42:22.679 --> 00:42:26.639
There's union people. Some guys, are you running the damn union?

788
00:42:26.679 --> 00:42:27.559
What a job that is?

789
00:42:27.840 --> 00:42:31.119
It's like homeless shelters in California. Who who benefits off

790
00:42:31.119 --> 00:42:33.679
of that? It's not the homeless population, it's the homeless shelter.

791
00:42:33.800 --> 00:42:36.920
It's not like an a nonprofit at right.

792
00:42:37.000 --> 00:42:39.480
You got workmen's comp. If somebody gets hurt, they're gonna

793
00:42:39.480 --> 00:42:42.159
have workmen's comp. You have OSHA that comes in, You've

794
00:42:42.199 --> 00:42:45.719
got the the inspectors that come in, you have everyone

795
00:42:45.760 --> 00:42:48.159
that comes in to be able to protect from a

796
00:42:48.199 --> 00:42:53.800
health cold period. You've got capitalism says all right, minim

797
00:42:53.880 --> 00:42:57.800
wages now fifteen, Well, the dishwasher once seventeen, the cook

798
00:42:57.840 --> 00:43:00.320
then that was getting twenty one's twenty five. That's the

799
00:43:00.360 --> 00:43:04.920
way it works. And now the customer comes downs twenty

800
00:43:04.960 --> 00:43:07.119
seven thousand, and where's all my French fries?

801
00:43:07.800 --> 00:43:10.159
It seems like we hit a hot button here. Yeah,

802
00:43:10.239 --> 00:43:12.000
I think a little hot button, do it?

803
00:43:12.119 --> 00:43:14.679
Just it just bugs me that that we're doing this

804
00:43:14.760 --> 00:43:18.320
and we're allowing it to happen, and representatives in Tucson

805
00:43:18.840 --> 00:43:20.639
letting it happen, and they vote for it, and they

806
00:43:20.719 --> 00:43:23.199
and they don't. Don't don't help out the small the

807
00:43:23.239 --> 00:43:24.559
small businesses.

808
00:43:24.840 --> 00:43:29.840
Frustrating, frustrating that a more a more news in the

809
00:43:30.480 --> 00:43:35.480
EV space, right Dethla, a company reported they delivered thirty

810
00:43:35.639 --> 00:43:39.000
thousand fewer vehicles in twenty twenty foot never mind it

811
00:43:39.000 --> 00:43:43.239
was two million, right new Tesla's out there, thirty thousand

812
00:43:43.280 --> 00:43:45.840
fuer vehicles in twenty four then twenty three, which is

813
00:43:45.840 --> 00:43:50.440
the first year over year drop in history. Oh, could

814
00:43:50.480 --> 00:43:53.480
it be competition? I mean, could it have anything to

815
00:43:53.519 --> 00:43:57.840
do with competition? It doesn't have to do with EV's

816
00:43:57.880 --> 00:44:02.320
being of no interest because reported that twenty twenty four

817
00:44:02.559 --> 00:44:06.800
was their best year for sales in five years, thanks

818
00:44:06.840 --> 00:44:09.800
to a thirty eight percent increase in the sale of

819
00:44:09.840 --> 00:44:10.719
electric vehicles.

820
00:44:11.000 --> 00:44:14.599
Right right, You know he won't have been able to

821
00:44:14.599 --> 00:44:16.320
have his EV section that this goes away.

822
00:44:16.360 --> 00:44:17.440
They're going to take away as charge.

823
00:44:17.559 --> 00:44:20.079
No, there's no going away. It's getting more and more

824
00:44:20.199 --> 00:44:21.320
pervasive all the time.

825
00:44:21.440 --> 00:44:23.360
All of the new I don't hear anyone goes Jean,

826
00:44:23.400 --> 00:44:25.079
I'm getting an EV vehicle this week.

827
00:44:25.239 --> 00:44:28.679
All of the new UH postal trucks are being r

828
00:44:28.760 --> 00:44:29.320
EV now.

829
00:44:30.039 --> 00:44:32.119
Government, government, government, yep.

830
00:44:33.119 --> 00:44:35.920
And and I see, and I new. You can't drive

831
00:44:36.000 --> 00:44:38.360
anywhere without seeing an electric view. I promise you drive

832
00:44:38.400 --> 00:44:39.079
a mile.

833
00:44:39.079 --> 00:44:41.840
Until and you and I both know this. Until you

834
00:44:41.880 --> 00:44:45.880
can take the electric vehicles actually out of just local

835
00:44:46.079 --> 00:44:49.719
driving and feel comfortable with it, it won't could. When

836
00:44:49.719 --> 00:44:52.519
they do that, you'll see a huge increase. Oh, that

837
00:44:52.639 --> 00:44:54.199
electric go through the moof.

838
00:44:54.039 --> 00:44:55.559
The range is a huge thing. But I think that

839
00:44:55.800 --> 00:44:56.320
have you seen an.

840
00:44:56.280 --> 00:44:57.320
Electric bill go up at all?

841
00:44:58.159 --> 00:45:01.320
Very little, Dean. Honestly, I don't even notice because I

842
00:45:01.320 --> 00:45:05.000
was thinking about that much electric bill A couple hundred bucks.

843
00:45:05.159 --> 00:45:07.960
So it's but are you on the flatweight? Is that one?

844
00:45:08.159 --> 00:45:08.199
No?

845
00:45:08.719 --> 00:45:10.519
You're telling me in the summer, it's only a couple

846
00:45:10.639 --> 00:45:13.599
hundred bucks. Uh, yeah, do you turn on your air conditioning? No?

847
00:45:13.599 --> 00:45:16.039
No, I've got a twenty six hundred square foot house

848
00:45:16.039 --> 00:45:17.199
as opposed to your mansion.

849
00:45:17.760 --> 00:45:22.400
Get lost? Are you telling me you don't have your

850
00:45:22.440 --> 00:45:24.159
Your bill doesn't go to four five hundred bucks?

851
00:45:24.159 --> 00:45:27.599
No it does not. No, no electing bills electricly building

852
00:45:27.599 --> 00:45:31.599
to keep it at electric seventy six seventy six, don't wonder.

853
00:45:32.079 --> 00:45:34.679
Yeah, my bill even goes to three hundred and fifty

854
00:45:34.679 --> 00:45:35.159
four hundred.

855
00:45:35.480 --> 00:45:37.519
Well, because we don't sit there at seventy six and

856
00:45:37.760 --> 00:45:40.679
like sweat on well, well, well, at home, we want

857
00:45:40.719 --> 00:45:41.400
to be comfortable.

858
00:45:41.639 --> 00:45:43.360
Then people don't sweat at seventy six.

859
00:45:43.440 --> 00:45:47.320
Yes, sorry, yeah they do. I can't sleep at seventy six.

860
00:45:47.360 --> 00:45:52.800
I need seventy's sweat right now. I need at least

861
00:45:52.840 --> 00:45:53.320
seventy two.

862
00:45:53.760 --> 00:45:55.280
Oh my god, we'd freeze to death.

863
00:45:55.639 --> 00:45:57.079
We'd have to be in it when I got I

864
00:45:57.079 --> 00:46:00.599
love when I go to hotels, though sixty seventy two.

865
00:46:00.800 --> 00:46:03.199
If I set my ac on seventy two, I'd be

866
00:46:03.239 --> 00:46:07.960
sitting there in a robe with a blanket over freezing

867
00:46:08.000 --> 00:46:14.719
to death. Seventy two. My goodness, you can't get seventy six.

868
00:46:15.000 --> 00:46:18.280
We all come with up a little held held hand

869
00:46:18.440 --> 00:46:19.559
held fans.

870
00:46:20.840 --> 00:46:22.519
No, no, I think that I think that you'd find

871
00:46:22.559 --> 00:46:25.559
that that's actually more common. In fact, the TP suggests

872
00:46:25.599 --> 00:46:27.599
seventy eight. That's what you should have it on.

873
00:46:27.800 --> 00:46:30.599
Oh, you're just not burn, you know what, there's no way.

874
00:46:31.239 --> 00:46:33.920
Hey, they're selling electricity. I don't know, right, Yeah, and

875
00:46:33.920 --> 00:46:38.119
they're saying seventy eight. That's that's the efficient temperature. I'm

876
00:46:38.159 --> 00:46:41.199
at seventy six. I'm colder than most everybody else. You're

877
00:46:41.239 --> 00:46:43.760
a seventy two. You're an ice box. You could you

878
00:46:43.800 --> 00:46:45.239
could hang meet at seventy two.

879
00:46:45.719 --> 00:46:51.199
Whatever. So the bottom line is we're coming up to

880
00:46:51.239 --> 00:46:52.719
the bottom of the hour. Top of the hour. I

881
00:46:52.719 --> 00:46:55.280
should say, I want to thank everybody for listening to

882
00:46:55.320 --> 00:46:59.719
our show. I remember these are all put on podcasts

883
00:46:59.719 --> 00:47:02.920
after woods and you can get them on our website

884
00:47:03.400 --> 00:47:06.679
financial dot com. We have TV shows, we've got radio shows,

885
00:47:06.719 --> 00:47:09.119
we got podcasts. We have it all. I hope that

886
00:47:09.159 --> 00:47:10.920
you're going to go back and look at it. We'll

887
00:47:10.960 --> 00:47:14.440
be back in just a little bit. Thank you for

888
00:47:14.559 --> 00:47:15.960
being part of what we do.

889
00:47:18.000 --> 00:47:21.320
Hello, and welcome to Money Matters. I'm Sarah Peterson here

890
00:47:21.360 --> 00:47:24.559
with Dean Greenberg and Dylan Greenberg. I get the both

891
00:47:24.559 --> 00:47:27.639
of you today so exciting for me and so exciting

892
00:47:27.639 --> 00:47:33.760
for me. Sure it is double the trouble. We always

893
00:47:33.800 --> 00:47:36.599
have so much fun. But let's talk about There's a

894
00:47:36.760 --> 00:47:39.239
lot going on right now in the markets, in the world,

895
00:47:39.639 --> 00:47:44.280
in politics, finance is exploding in every direction, and I'm

896
00:47:44.280 --> 00:47:47.320
sure people have a lot of questions. But every show

897
00:47:47.400 --> 00:47:50.559
we talk about the importance of a financial plan, and

898
00:47:51.039 --> 00:47:53.440
the one thing we hate to talk about because nobody

899
00:47:53.519 --> 00:47:56.119
really wants to talk about it is a budget. The

900
00:47:56.199 --> 00:47:58.079
B word. We love to talk about that.

901
00:47:58.639 --> 00:48:00.880
Yeah, the budget. That's always the biggest one we talk

902
00:48:00.920 --> 00:48:03.000
about it. And when we send the first email about

903
00:48:03.039 --> 00:48:06.039
trying to having the client gather all the information to

904
00:48:06.039 --> 00:48:07.920
bring to the meeting, because we start our financial plan

905
00:48:07.960 --> 00:48:10.360
from scratch when we meet with them the first time,

906
00:48:10.400 --> 00:48:12.320
but we send an email gather the information you can.

907
00:48:12.679 --> 00:48:15.719
The hardest one for them to find is their monthly budget,

908
00:48:15.880 --> 00:48:17.920
which is either monthly or annual. However they want to

909
00:48:17.960 --> 00:48:20.000
do is try to figure out all the expenses, and

910
00:48:20.000 --> 00:48:21.599
that's the most common one that they come in.

911
00:48:21.639 --> 00:48:23.440
They're like, I don't really know, I don't want to

912
00:48:23.480 --> 00:48:23.840
figure it out.

913
00:48:23.840 --> 00:48:25.400
What kind of scared me. I don't know, it's hard.

914
00:48:25.400 --> 00:48:28.440
It's we have these fixed expenses and these variables change,

915
00:48:28.559 --> 00:48:31.880
and it's always just the difficult one, yep. But by

916
00:48:31.920 --> 00:48:33.960
the end of the meeting they have it all is down.

917
00:48:34.000 --> 00:48:36.440
And the reason I think it's the most difficult one

918
00:48:36.480 --> 00:48:39.280
is because it's scary because they're saying that I don't

919
00:48:39.280 --> 00:48:41.079
know if I if I know the answer, it could

920
00:48:41.280 --> 00:48:42.159
screw up everything that.

921
00:48:42.079 --> 00:48:43.960
I also maybe a little bit of pride to. I mean,

922
00:48:43.960 --> 00:48:46.440
I don't want to come to you and show you,

923
00:48:46.440 --> 00:48:49.320
you know, all my financial cards and you're like, you know, Sarah,

924
00:48:49.440 --> 00:48:52.440
you're really spending too much, And then I'm feeling a

925
00:48:52.440 --> 00:48:55.519
little less then. But that's probably not always the case.

926
00:48:55.679 --> 00:48:57.840
Well, the funny thing is, yeah, that's always the feeling.

927
00:48:57.920 --> 00:49:00.199
But more often than not we're telling people just spend

928
00:49:00.239 --> 00:49:03.119
more money. By the end of it, because we go

929
00:49:03.159 --> 00:49:05.119
through the plan, they have their expenses been a lot

930
00:49:05.119 --> 00:49:08.079
of these clients have built a habit over the years

931
00:49:08.119 --> 00:49:10.639
of saving, saving for the retirement. They built a nice

932
00:49:10.639 --> 00:49:13.639
nest egg that now it's time to use it in

933
00:49:13.679 --> 00:49:17.159
their favor and enjoy it, and it's kind of hard

934
00:49:17.280 --> 00:49:20.199
to change that mindset where they've always thought, Okay, I

935
00:49:20.280 --> 00:49:22.199
got to build it. But now if the thought of

936
00:49:22.320 --> 00:49:24.320
depleting it scares them because they don't know if theyre

937
00:49:24.320 --> 00:49:26.159
going to outlive it. So the best thing about our

938
00:49:26.199 --> 00:49:28.960
plan and our program that we have is it shows

939
00:49:29.440 --> 00:49:30.840
we can show you going out to one hundred and

940
00:49:30.880 --> 00:49:34.480
ten age we don't usually usually it's around mid nineties,

941
00:49:34.480 --> 00:49:36.079
and a lot of time the client's like that it's

942
00:49:36.079 --> 00:49:38.320
too long anyways, But we want to show them, Okay,

943
00:49:38.320 --> 00:49:40.199
well does your plan look like if it goes longer

944
00:49:40.199 --> 00:49:42.719
than you expect, And more often than not, they have

945
00:49:42.800 --> 00:49:44.880
money left over, a lot more money left over.

946
00:49:44.760 --> 00:49:46.920
Too a lot of the time because they're not spending enough.

947
00:49:47.199 --> 00:49:50.039
So we tell them when you see a plan go

948
00:49:50.159 --> 00:49:52.599
ninety nine percent, which is the most confident a plan

949
00:49:52.639 --> 00:49:54.400
can be. We're like, okay, how do we break this plan?

950
00:49:54.440 --> 00:49:57.320
How much can you spend each year until you die?

951
00:49:57.599 --> 00:49:59.519
If to break the plan, and then we give them

952
00:49:59.519 --> 00:50:01.599
that spending range, and that spending range can vary from.

953
00:50:01.440 --> 00:50:03.159
Anywhere from just hypothetically.

954
00:50:03.199 --> 00:50:05.559
We have a client that's spending right now eighty thousand

955
00:50:05.559 --> 00:50:08.119
dollars a year, and we show him that's a ninety

956
00:50:08.159 --> 00:50:10.599
nine percent on the confidence level so okay, how do

957
00:50:10.639 --> 00:50:11.079
we break it?

958
00:50:11.119 --> 00:50:11.960
And they have so much?

959
00:50:11.960 --> 00:50:14.079
An askest says they've accumulated over the years. They can

960
00:50:14.079 --> 00:50:16.679
spend tw hundred thousand dollars a year and it doesn't more.

961
00:50:16.599 --> 00:50:18.119
Than double what they're more than double.

962
00:50:18.280 --> 00:50:19.800
Yeah, and music.

963
00:50:21.000 --> 00:50:23.880
I literally, as you're speaking, I'm going he's talking about me, right,

964
00:50:23.960 --> 00:50:26.280
I should be spending more. Honey, do we hear this?

965
00:50:26.480 --> 00:50:27.920
Have you ever done the budget?

966
00:50:28.039 --> 00:50:29.599
Well? The be word.

967
00:50:30.960 --> 00:50:32.039
It makes a cringe everything.

968
00:50:32.719 --> 00:50:35.960
I'm not really a fan. This isn't about me though. No,

969
00:50:36.119 --> 00:50:38.480
to be honest, it is a little intimidating, but we

970
00:50:38.519 --> 00:50:40.960
all need to do it, and when we do, it

971
00:50:41.000 --> 00:50:43.239
does give you peace of mind. It really does, because

972
00:50:43.440 --> 00:50:46.239
I think in general, we all do want to know

973
00:50:46.280 --> 00:50:49.480
what our limitations are, right, We're always pushing the limits.

974
00:50:49.719 --> 00:50:52.800
Okay, but let me and this is an honest question, okay,

975
00:50:53.239 --> 00:50:55.639
because I know, like in my situation by Pail, I

976
00:50:55.639 --> 00:50:58.800
try to explain to my wife and stuff, you know,

977
00:50:58.840 --> 00:51:00.679
this is how much we can spend, but she doesn't

978
00:51:00.719 --> 00:51:05.199
really want the comprehended want to know it. Whatever it is,

979
00:51:05.320 --> 00:51:06.119
don't get me in trouble.

980
00:51:06.559 --> 00:51:07.880
I think it's don't want to know it?

981
00:51:07.960 --> 00:51:10.960
Right, I want to know if you know what it is.

982
00:51:11.360 --> 00:51:14.320
I mean, because I don't think most, like a lot

983
00:51:14.320 --> 00:51:17.039
of women, if they're not doing the financial stuff and

984
00:51:17.079 --> 00:51:19.440
they're spending and on. But you have your own business,

985
00:51:19.760 --> 00:51:23.519
and mel has your own business, but it's still one

986
00:51:23.519 --> 00:51:26.079
of those things. Do you actually know how much you

987
00:51:26.079 --> 00:51:28.440
spend each month? Have you said that with your husband

988
00:51:28.480 --> 00:51:29.320
and done it.

989
00:51:29.320 --> 00:51:32.360
It's actually a really interesting question because it does. It

990
00:51:32.480 --> 00:51:36.599
varies based on so many There are so many variables

991
00:51:36.679 --> 00:51:38.840
right in our life. But I find it a lot

992
00:51:39.039 --> 00:51:42.800
to be very emotional. So that's what's difficult about what

993
00:51:42.840 --> 00:51:45.440
you do is you know, sometimes we find hardship in

994
00:51:45.440 --> 00:51:48.559
our life. Right, somebody passes away young, or someone gets sick.

995
00:51:48.840 --> 00:51:51.079
Instantly you're like, oh my gosh, I need to live

996
00:51:51.119 --> 00:51:52.920
my life and go out there and do right. It

997
00:51:53.000 --> 00:51:55.840
just changes your perspective. Or there are some years where

998
00:51:55.840 --> 00:51:59.760
we're just really content and feeling, you know, a little bearish.

999
00:52:00.039 --> 00:52:02.320
I think a lot of it is emotional. It's much less.

1000
00:52:02.400 --> 00:52:04.119
You know, this is how much is in the bank,

1001
00:52:04.159 --> 00:52:05.599
and this is how much we should be spending.

1002
00:52:05.880 --> 00:52:09.920
No, but it's probably like most I mean, we spend

1003
00:52:09.920 --> 00:52:12.920
money and then if there's a problem, your husband or

1004
00:52:13.119 --> 00:52:16.400
myself talk to our wives and say, listen, you're spending

1005
00:52:16.400 --> 00:52:18.880
too much money. So for a month or two you

1006
00:52:18.960 --> 00:52:22.320
do okay, and then you come back to it. But

1007
00:52:22.440 --> 00:52:26.119
it's not like most people don't sit down together and

1008
00:52:26.119 --> 00:52:29.039
do it, or the wife does it. She sits down

1009
00:52:29.440 --> 00:52:31.679
and does the budget. And since in a husband you

1010
00:52:31.679 --> 00:52:33.960
can spend this much money and stuff like that, but

1011
00:52:34.039 --> 00:52:36.519
it would be good if both people can. But I

1012
00:52:36.519 --> 00:52:40.039
don't know that means you're both like that type of person,

1013
00:52:40.079 --> 00:52:40.800
that mindset.

1014
00:52:41.280 --> 00:52:43.159
I think that's what I'm saying. I feel like there's

1015
00:52:43.199 --> 00:52:46.039
so much psychology that goes into what you do. And

1016
00:52:46.719 --> 00:52:48.840
what I love is that you guys have each other

1017
00:52:48.880 --> 00:52:51.199
as the foils, and then getting to know your clients.

1018
00:52:51.599 --> 00:52:54.679
You really do understand who they are and what makes

1019
00:52:54.719 --> 00:52:56.880
them who they are and what their dreams and goals

1020
00:52:56.920 --> 00:53:00.480
are versus just okay, there's Sally and here's her, And

1021
00:53:00.599 --> 00:53:02.679
isn't that you've got to understand a little bit more

1022
00:53:02.679 --> 00:53:05.679
about those people to help them create those goals well.

1023
00:53:05.679 --> 00:53:07.519
And the way we build the plan is let's show

1024
00:53:07.559 --> 00:53:09.920
you're just the best plan you have in your plan,

1025
00:53:10.039 --> 00:53:11.840
like in your idea of your life that you see

1026
00:53:11.920 --> 00:53:13.639
through retirement through the next forty years of your life.

1027
00:53:13.679 --> 00:53:16.159
What would be ideal would you Do you want a

1028
00:53:16.199 --> 00:53:18.000
new house, Do you want to expand your house? Do

1029
00:53:18.000 --> 00:53:19.079
you want to get a second house? Do you want

1030
00:53:19.079 --> 00:53:20.599
to get another car? Do you want to get that

1031
00:53:20.639 --> 00:53:23.199
sports car or like a big gift or something like

1032
00:53:23.239 --> 00:53:25.719
that later on in life. And then if it works,

1033
00:53:26.079 --> 00:53:28.119
there's nothing to change. But then at that point, if

1034
00:53:28.119 --> 00:53:29.599
it doesn't, we got to reign it back a bit,

1035
00:53:29.639 --> 00:53:32.119
and in a sense it brings it back to reality.

1036
00:53:32.679 --> 00:53:34.880
But that reality at least gives them a breath of

1037
00:53:34.880 --> 00:53:36.920
fresh air at the end of the plan too, Yeah,

1038
00:53:36.960 --> 00:53:39.280
because they realize, Okay, so this is what we can do.

1039
00:53:39.480 --> 00:53:42.119
Is there a perfect age that you like to start

1040
00:53:42.159 --> 00:53:43.679
working with people? I mean, is there?

1041
00:53:43.880 --> 00:53:46.119
Or is it just start the perfect as to start?

1042
00:53:46.119 --> 00:53:48.639
I will say if they're younger, like in their twenties,

1043
00:53:49.159 --> 00:53:51.840
the plan probably won't show that there's much confidence because

1044
00:53:51.840 --> 00:53:53.239
there's so many variables that will happen in the next

1045
00:53:53.239 --> 00:53:55.599
forty years. Yeah, but the difference is at that point

1046
00:53:55.639 --> 00:53:57.519
you can start your plan, start your idea, have it

1047
00:53:57.559 --> 00:53:59.320
in your mind in your twenties, and then every year

1048
00:53:59.320 --> 00:54:01.239
you updated. If you buy a house, if you get married,

1049
00:54:01.400 --> 00:54:03.320
if you have kids, and that's not the difference.

1050
00:54:03.400 --> 00:54:03.840
Maybe at that.

1051
00:54:03.840 --> 00:54:06.280
Point, it's more learning how to invest in save and

1052
00:54:06.599 --> 00:54:10.119
just get a better general financial health plan going right.

1053
00:54:10.159 --> 00:54:13.039
It's really just getting your mind into that world if

1054
00:54:13.039 --> 00:54:13.719
it's never been there.

1055
00:54:13.760 --> 00:54:14.559
That's the biggest thing.

1056
00:54:14.480 --> 00:54:16.920
With type of plan. So you got the accumulation phase

1057
00:54:17.760 --> 00:54:23.599
and then you have your distribution phase. Okay, so sometimes

1058
00:54:23.599 --> 00:54:25.360
people are right in the middle of two, like fifty

1059
00:54:25.400 --> 00:54:29.199
to sixty, you're accumulating two, distribute. Once you're hitting your

1060
00:54:29.199 --> 00:54:33.760
sixties or seventies, now you have the distribution phase. You know.

1061
00:54:33.800 --> 00:54:36.159
It's interesting because I always thought during the distribution phase

1062
00:54:36.320 --> 00:54:39.079
we needed less because okay, you kids are out of

1063
00:54:39.079 --> 00:54:40.719
the house, and it's not. But then I think, oh,

1064
00:54:40.760 --> 00:54:42.719
I see all these people. People are living longer and

1065
00:54:42.760 --> 00:54:45.679
they're living healthier, so they're getting to take these great trips.

1066
00:54:45.760 --> 00:54:47.360
I mean, you're not even retired yet and you're taking

1067
00:54:47.360 --> 00:54:49.639
all these great family trips. That's a goal of ours

1068
00:54:49.719 --> 00:54:51.639
to be able to enjoy our retirement. And I don't

1069
00:54:51.679 --> 00:54:53.880
want to say, oh, we can't do this, you know,

1070
00:54:53.880 --> 00:54:55.679
oh you have four kids. Sorry, we can't afford to

1071
00:54:55.679 --> 00:54:57.880
take all your kids on the boat. You know, it

1072
00:54:57.920 --> 00:55:00.239
would be nice to know that that is what we

1073
00:55:00.440 --> 00:55:01.000
can save for.

1074
00:55:01.679 --> 00:55:04.039
And that's the main common goal that people have is

1075
00:55:04.119 --> 00:55:07.760
I want a separate travel goal of five, ten, fifteen, thousand,

1076
00:55:07.840 --> 00:55:10.280
whatever it may be, on top of their regular day

1077
00:55:10.280 --> 00:55:10.800
to day spending.

1078
00:55:10.960 --> 00:55:12.920
I love that and to me, I would rather know

1079
00:55:12.960 --> 00:55:15.519
if I'm on the right path to getting there earlier

1080
00:55:15.800 --> 00:55:18.000
rather than later. And so now is the time to

1081
00:55:18.000 --> 00:55:20.239
make that phone call. The number on the bottom of

1082
00:55:20.280 --> 00:55:22.239
your screen is five two zero five four four four

1083
00:55:22.360 --> 00:55:24.199
nine zero nine. We do need to take a quick

1084
00:55:24.199 --> 00:55:25.840
commercial break, and when we come back, we're going to

1085
00:55:25.880 --> 00:55:29.559
talk more about the numbers that go into deciding how

1086
00:55:29.599 --> 00:55:32.559
we're going to make those investments in our retirement. Hope

1087
00:55:32.599 --> 00:55:39.320
you'll see us soon. Hello, and welcome back to Money Matters.

1088
00:55:39.360 --> 00:55:42.559
I'm Sarah Peterson here with Dean Greenberg and Dylan Greenberg,

1089
00:55:42.920 --> 00:55:47.159
and we're talking about retirement. Why people are so hesitant

1090
00:55:47.159 --> 00:55:49.480
to want to budget. I mean, when you think of

1091
00:55:49.519 --> 00:55:54.800
your income going away, right, it's scary. But not everybody

1092
00:55:54.840 --> 00:55:58.400
does just retire and then that's it. Sometimes they decide, hey,

1093
00:55:58.440 --> 00:56:00.559
I'm not done, I want.

1094
00:56:00.400 --> 00:56:00.639
To do.

1095
00:56:02.159 --> 00:56:04.519
Well. There's a lot of things that people want to do. Okay,

1096
00:56:05.159 --> 00:56:06.960
that's the biggest thing. When people come to me and

1097
00:56:07.000 --> 00:56:10.599
they say I'm going to retire, I said, okay, what

1098
00:56:10.599 --> 00:56:14.159
are you going to do? I don't know, God, I said,

1099
00:56:14.880 --> 00:56:17.400
I said, you better think of what you're going to do.

1100
00:56:17.880 --> 00:56:20.480
I said, because most people that come in here that

1101
00:56:20.639 --> 00:56:24.280
don't have something to do get old real quick. All right,

1102
00:56:24.800 --> 00:56:26.760
So you don't think you're going to sleep late, or

1103
00:56:26.800 --> 00:56:29.559
you don't think it's going to happen. So figure out

1104
00:56:29.559 --> 00:56:31.719
what you're going to do. We don't have any hobbies,

1105
00:56:31.719 --> 00:56:35.039
so I said, don't want Are you retiring? You know, well,

1106
00:56:35.400 --> 00:56:38.400
usually in corporations, they want you out. One of the

1107
00:56:38.400 --> 00:56:41.360
biggest trends that I see though lately. There's a lot

1108
00:56:41.360 --> 00:56:43.440
of people that work for companies like down by US

1109
00:56:43.559 --> 00:56:46.639
righton and a lot of these other companies. They retire,

1110
00:56:47.280 --> 00:56:50.000
they get their benefits, and then they get hired back

1111
00:56:50.320 --> 00:56:54.360
by another company who's actually works for the same company,

1112
00:56:54.800 --> 00:56:56.440
you know what I mean, and they actually make a

1113
00:56:56.480 --> 00:56:58.679
lot more money. There was a guy that I know,

1114
00:57:00.039 --> 00:57:03.199
without mentioning names, he was making I don't know, maybe

1115
00:57:03.199 --> 00:57:06.840
one hundred and seventy five thousand dollars working for this

1116
00:57:06.920 --> 00:57:10.599
big corporation. So then he gets all his benefits, gets

1117
00:57:10.599 --> 00:57:13.280
his pension, gets all this stuff, and then he works

1118
00:57:13.280 --> 00:57:17.920
for the other company doing the same exact thing for

1119
00:57:18.039 --> 00:57:20.079
the big company and it makes three hundred and fifty

1120
00:57:20.119 --> 00:57:22.440
thousand dollars. Wow, but no benefits, no nothing.

1121
00:57:22.719 --> 00:57:25.719
But this is really interesting because this would really play

1122
00:57:25.760 --> 00:57:28.280
into you know, when you're going to take your Social

1123
00:57:28.320 --> 00:57:31.679
Security benefits, you wouldn't want to start taking them until.

1124
00:57:32.800 --> 00:57:35.519
You take it. You take it one, well, I'm a

1125
00:57:35.519 --> 00:57:41.199
big fan, Okay, taking it at your full retirement age,

1126
00:57:41.599 --> 00:57:44.719
which right now is about sixty six and eight nine,

1127
00:57:44.760 --> 00:57:47.280
ten months depending when you got it. The reason million

1128
00:57:47.400 --> 00:57:52.119
is is one, there's no way I want the government

1129
00:57:52.159 --> 00:57:54.480
keeping my money any bit longer, even if I'm paying

1130
00:57:54.480 --> 00:57:57.679
taxes on it. I'll take it, no penalties for taxes.

1131
00:57:58.400 --> 00:58:01.400
If you do take that money, it takes you to

1132
00:58:01.519 --> 00:58:03.840
about eighty one years old. If you don't take that

1133
00:58:03.920 --> 00:58:06.719
money to have you break even. I don't want to

1134
00:58:06.760 --> 00:58:08.960
be in that. I don't want I want the government

1135
00:58:08.960 --> 00:58:12.679
to get more, get anything more than they need to

1136
00:58:12.719 --> 00:58:14.880
that we've been paying for this whole time because they

1137
00:58:14.920 --> 00:58:17.360
haven't been smart enough to figure out how to change

1138
00:58:17.360 --> 00:58:21.400
Social Security. So it depends on people. Now, However, if

1139
00:58:21.440 --> 00:58:25.440
somebody really needs that extra fifteen hundred that it would

1140
00:58:25.440 --> 00:58:28.000
take for them to get to seventy and they're still working,

1141
00:58:28.840 --> 00:58:30.719
then we talk to them and that's where the plan

1142
00:58:30.840 --> 00:58:33.719
comes in. Wait till your seventy and you're going to

1143
00:58:33.760 --> 00:58:35.679
get this much more money, which is what you're going

1144
00:58:35.719 --> 00:58:38.320
to need guaranteed to you to make this plan work

1145
00:58:38.360 --> 00:58:39.159
for you down the road.

1146
00:58:39.239 --> 00:58:41.800
Yeah, our plan as a social security optimizer gives you

1147
00:58:41.840 --> 00:58:44.679
the economic side and then that idea of when the

1148
00:58:44.760 --> 00:58:46.679
best time to take it is based off the information

1149
00:58:46.920 --> 00:58:47.480
we plug in.

1150
00:58:47.519 --> 00:58:49.400
I just think it's so confusing for so many people.

1151
00:58:49.440 --> 00:58:51.280
So it's great to have those answers. Because you can't

1152
00:58:51.639 --> 00:58:53.320
read the Social Security handbook.

1153
00:58:53.360 --> 00:58:55.719
You go online and they keep it vague on purpose

1154
00:58:55.960 --> 00:58:58.000
because they just want you to go get it the

1155
00:58:58.039 --> 00:59:00.199
minimal that they can do. But like he was saying

1156
00:59:00.280 --> 00:59:03.119
is if you're under full retirement age and you decide

1157
00:59:03.159 --> 00:59:04.679
to go back to work, if you retire at sixty

1158
00:59:04.679 --> 00:59:07.320
two from your pension job, you get your pensions, but

1159
00:59:07.400 --> 00:59:07.880
you get bored.

1160
00:59:07.920 --> 00:59:08.880
You want to go do the.

1161
00:59:08.880 --> 00:59:11.320
Independent contracting like you're talking about. You don't want to

1162
00:59:11.320 --> 00:59:13.719
take Social Security because you're going to get penalized to

1163
00:59:13.800 --> 00:59:16.079
taking it if at sixty two, you have to wait

1164
00:59:16.119 --> 00:59:18.440
until your full retirement age, and then there's no more penalty.

1165
00:59:18.800 --> 00:59:20.840
So if you decide if you think you might work

1166
00:59:21.199 --> 00:59:25.000
between your career retirement data and doing something else until

1167
00:59:25.039 --> 00:59:27.840
you get fully retired, wouldn't suggest to take it at

1168
00:59:27.840 --> 00:59:28.199
that point.

1169
00:59:28.360 --> 00:59:30.079
It's so interesting because I think a lot of people

1170
00:59:30.119 --> 00:59:34.280
there's again of this huge emotional component to the actual

1171
00:59:34.800 --> 00:59:37.400
act of retiring, because people think, oh, that sounds so great,

1172
00:59:37.440 --> 00:59:39.320
I'll have all this time on my hands. But if

1173
00:59:39.320 --> 00:59:40.719
you don't have a plan as to what you're going

1174
00:59:40.800 --> 00:59:43.960
to do, you can just sort of fade away.

1175
00:59:44.079 --> 00:59:45.599
You don't have a plan, if you don't have a

1176
00:59:45.599 --> 00:59:49.599
budget and you didn't save money, retirement pretty much sucks.

1177
00:59:50.239 --> 00:59:53.519
Yeah. And also, I mean, like you said, being a

1178
00:59:53.519 --> 00:59:57.079
lot of people don't account for the emotional side of

1179
00:59:57.400 --> 00:59:59.519
I don't have like my schedule. I don't have my

1180
00:59:59.599 --> 01:00:02.079
routine of getting up and going to work and feeling

1181
01:00:02.079 --> 01:00:03.719
a sense of purpose. And if you don't find that

1182
01:00:03.760 --> 01:00:06.639
sense of purpose somewhere else, that might be something that

1183
01:00:06.719 --> 01:00:08.119
you decide, Hey, I want to go back to work

1184
01:00:08.119 --> 01:00:10.840
because I love being in front of people or socializing

1185
01:00:10.880 --> 01:00:12.400
and get really lonely being at home.

1186
01:00:12.440 --> 01:00:14.920
So that's a big one, is they retire because they're

1187
01:00:14.960 --> 01:00:17.519
so tired of work in after forty years, but you're lonely.

1188
01:00:17.679 --> 01:00:20.000
They realize a lot of their daily interactions come from

1189
01:00:20.039 --> 01:00:23.079
work with people, and they just need human interaction. So

1190
01:00:23.079 --> 01:00:24.719
that's why a lot of people do go back to work,

1191
01:00:25.239 --> 01:00:27.719
and that's why Walmart greeters they're so happy because they

1192
01:00:27.760 --> 01:00:29.519
just want to say hi to people and talk to people.

1193
01:00:30.599 --> 01:00:35.000
Do something. When you said something, being significant is important.

1194
01:00:35.719 --> 01:00:39.920
Once you lose that significance in your life, what do

1195
01:00:39.960 --> 01:00:42.880
you have? What are you doing? And I talk to

1196
01:00:42.880 --> 01:00:44.960
people about that. What are you going to do that's significant?

1197
01:00:45.400 --> 01:00:48.239
Who's going to need to hear anything about your wisdom

1198
01:00:48.280 --> 01:00:50.679
of all those years that you've had. Who are you

1199
01:00:50.800 --> 01:00:53.880
going to be able to help or relate to. I'm

1200
01:00:53.920 --> 01:00:56.519
a big giver backup. I think when you give back

1201
01:00:56.800 --> 01:00:59.679
your knowledge, your time, money, whatever it is that you

1202
01:00:59.679 --> 01:01:04.320
can to do, that is worth so much to others

1203
01:01:04.360 --> 01:01:07.559
because it's backwards. So all of wisdom comes when we're older,

1204
01:01:07.639 --> 01:01:10.719
when we but you know you have you had wisdom

1205
01:01:10.719 --> 01:01:12.760
earlier when you had money and be able to do stuff.

1206
01:01:12.800 --> 01:01:14.400
You get older, you get all the wisdom and you

1207
01:01:14.480 --> 01:01:15.320
don't have the energy.

1208
01:01:16.360 --> 01:01:17.920
That's what I was saying before. But I think the

1209
01:01:17.960 --> 01:01:20.920
crazy thing is people have more energy for longer because

1210
01:01:20.960 --> 01:01:23.320
you know, Medicin's come such along way you were able to.

1211
01:01:23.360 --> 01:01:27.000
I mean, my grandparents' retirement is not I mean I

1212
01:01:27.039 --> 01:01:29.800
remember them being kind of old and retired in their

1213
01:01:29.800 --> 01:01:32.360
early sixties. I have friends in their sixties that seem

1214
01:01:32.440 --> 01:01:34.400
younger than you know, someone in their forties.

1215
01:01:34.440 --> 01:01:37.320
If you would bed by eight o'clock, I can tell me.

1216
01:01:37.599 --> 01:01:41.559
Yeah, but this isn't valve. I have four kids, it doesn't.

1217
01:01:41.719 --> 01:01:43.840
I haven't been lonely since they were born. I don't

1218
01:01:43.920 --> 01:01:46.639
know what that's you like, and people you're exhausted, You're

1219
01:01:46.639 --> 01:01:50.239
totally exhausted. But the point is is having a plan.

1220
01:01:50.320 --> 01:01:52.480
You were asking me if I budget and those things.

1221
01:01:52.880 --> 01:01:55.159
I actually would like someone to give that to me,

1222
01:01:55.239 --> 01:01:58.679
because I think having that limitation is is good. Otherwise

1223
01:01:58.679 --> 01:02:01.159
we all test our limit. It's right, and I don't

1224
01:02:01.159 --> 01:02:03.320
want to be testing it when I'm sixty four and

1225
01:02:03.320 --> 01:02:06.079
a half and I would like to start retiring. I

1226
01:02:06.119 --> 01:02:08.440
want to sort of know now where my limits are.

1227
01:02:09.000 --> 01:02:11.480
Yeah, especially if you're retiring in your early sixties, you're

1228
01:02:11.519 --> 01:02:13.199
going to want to travel more. You're going to want

1229
01:02:13.199 --> 01:02:15.480
to do a lot more things. Up until you turn

1230
01:02:15.519 --> 01:02:18.079
about eighty is when we see clients slow down. They've

1231
01:02:18.079 --> 01:02:19.639
seen it all, they've done at all, or they just

1232
01:02:19.679 --> 01:02:22.000
their health dwindles away so they don't want to travel

1233
01:02:22.039 --> 01:02:24.519
as much. But in your middle early sixties, you got

1234
01:02:24.519 --> 01:02:26.440
about twenty years of you want to go do things,

1235
01:02:26.960 --> 01:02:28.440
and it's that so you want to be able to

1236
01:02:28.480 --> 01:02:30.360
budget for that and figure out and it helps you

1237
01:02:30.440 --> 01:02:32.440
plan for it too if you're knowing you're what your

1238
01:02:32.440 --> 01:02:35.079
budget could be around like, give you arrange your budget,

1239
01:02:35.199 --> 01:02:37.320
is here for it with your significant other, and get

1240
01:02:37.360 --> 01:02:39.079
ready to do it so you're not just kind of

1241
01:02:39.159 --> 01:02:40.440
living day by day without approprise.

1242
01:02:40.480 --> 01:02:43.559
It just I'm so incredibly amazed at how many people

1243
01:02:44.119 --> 01:02:46.559
do not have a plan. And you can't go through

1244
01:02:46.559 --> 01:02:48.199
the rest of your life like that because the world

1245
01:02:48.239 --> 01:02:50.239
is so chaotic. Wouldn't it be nice to have one

1246
01:02:50.280 --> 01:02:53.320
thing you knew was accounted for and a plan to

1247
01:02:53.320 --> 01:02:54.920
know if you're on the right path. And it is

1248
01:02:55.280 --> 01:02:57.079
so incredibly easy. All you need to do is call

1249
01:02:57.119 --> 01:02:59.239
the phone number on the screen. It's five two zero

1250
01:02:59.360 --> 01:03:01.960
five four four four nine. Zero nine. We're going to

1251
01:03:02.000 --> 01:03:04.000
take a quick commercial break. We'll come back and talk

1252
01:03:04.239 --> 01:03:06.840
so much more about your Money Matters. We we'll see

1253
01:03:06.840 --> 01:03:10.880
you soon. Hello, and welcome back to Money Matters. I'm

1254
01:03:10.920 --> 01:03:14.079
Sarah Peterson here with Dean Greenberg and Dylan Greenberg. We've

1255
01:03:14.039 --> 01:03:16.440
been talking a lot about the dirty bee where the budget.

1256
01:03:17.079 --> 01:03:18.480
I don't like it when you ask me if I

1257
01:03:18.480 --> 01:03:20.719
have one, so let's not talk about that again. But

1258
01:03:20.840 --> 01:03:23.440
I think this is so important to talk about as

1259
01:03:23.480 --> 01:03:27.280
we're approaching retirement. How some things, like you said before,

1260
01:03:27.639 --> 01:03:30.280
happened to the upside. We're all a little bit afraid

1261
01:03:30.280 --> 01:03:32.880
to ask the questions, but sometimes your answers are not

1262
01:03:33.199 --> 01:03:36.320
what we expected. We were able to do more than

1263
01:03:36.360 --> 01:03:38.239
what we thought we could do, which is a great

1264
01:03:38.480 --> 01:03:39.119
problem to have.

1265
01:03:39.599 --> 01:03:41.519
Yeah, exactly, like I'll say in that first segment, it's

1266
01:03:42.119 --> 01:03:44.360
more often than not people can spend more than they

1267
01:03:44.800 --> 01:03:48.000
think they can because they have built the nest egg

1268
01:03:48.000 --> 01:03:48.639
that they'll are.

1269
01:03:48.639 --> 01:03:52.039
These people, by the I just wanted to know it takes.

1270
01:03:51.840 --> 01:03:55.400
Them the retire raise are getting a lot of the time,

1271
01:03:55.519 --> 01:03:57.119
it's pensions that they get.

1272
01:03:57.280 --> 01:03:57.800
So they have it.

1273
01:03:57.800 --> 01:03:59.599
They built this great nest egg, but they also get

1274
01:03:59.599 --> 01:04:01.719
a pension, So then they're putting it all into one

1275
01:04:01.800 --> 01:04:04.159
place for the first time, knowing that they were going

1276
01:04:04.239 --> 01:04:06.079
to get it. But they've seen it all and they're realizing,

1277
01:04:06.159 --> 01:04:08.519
I can take from the retirement nests that if I

1278
01:04:08.559 --> 01:04:11.519
need to. But they've also lived off their salary for

1279
01:04:11.519 --> 01:04:14.519
forty years, so they have that habit of living the

1280
01:04:14.559 --> 01:04:16.519
more modest life is how they usually do, and they

1281
01:04:16.599 --> 01:04:18.599
want a safe, safe, safe so they can be ready

1282
01:04:18.639 --> 01:04:21.119
for retirement. And now it's us telling them you're more

1283
01:04:21.159 --> 01:04:23.079
than ready, go spend a little more, and they can't

1284
01:04:23.119 --> 01:04:25.480
because it's not how their brain's wired, because they spend

1285
01:04:25.480 --> 01:04:26.760
forty years building a habit.

1286
01:04:26.960 --> 01:04:29.559
Remember that movie Brewster's Millions that it was in the

1287
01:04:29.599 --> 01:04:32.199
seventies where they said, you know, you have millions of

1288
01:04:32.239 --> 01:04:34.280
dollars and you need to spend all this money and

1289
01:04:34.360 --> 01:04:36.719
leave no trace of it. There can't be any physical

1290
01:04:37.079 --> 01:04:40.519
thing left. I thought, that's a good challenge we could

1291
01:04:40.559 --> 01:04:42.000
I'd really enjoy that challenge.

1292
01:04:42.199 --> 01:04:44.000
The other thing, too, is a lot of these people

1293
01:04:45.119 --> 01:04:49.440
remember their parents and grandparents talking about the depression. Okay,

1294
01:04:49.760 --> 01:04:52.360
they have to put money away, and they're coming out

1295
01:04:52.400 --> 01:04:55.760
of the last stages of pensions. People don't have that

1296
01:04:55.840 --> 01:05:00.239
many pensions anymore once you're working for the government, and

1297
01:05:00.320 --> 01:05:03.760
so those are big things that people remember and go

1298
01:05:03.880 --> 01:05:04.239
from there.

1299
01:05:04.440 --> 01:05:06.199
Well, I think there was the Depression, but there was

1300
01:05:06.239 --> 01:05:10.440
also this generation that built their wealth from literally nothing,

1301
01:05:11.039 --> 01:05:15.159
and they really understood the value of a dollar. Generations,

1302
01:05:15.480 --> 01:05:17.840
you know, in between, haven't really had to deal with

1303
01:05:17.880 --> 01:05:20.719
that and they haven't had to suffer. And we're seeing

1304
01:05:20.800 --> 01:05:24.119
sort of the repercussions of that too with the younger generation.

1305
01:05:24.400 --> 01:05:27.400
We were talking about earlier not necessarily working as hard,

1306
01:05:27.440 --> 01:05:30.079
and there's that mentality that you have, you know, you

1307
01:05:30.440 --> 01:05:32.599
fall down, you get back up again, and you don't fail.

1308
01:05:33.679 --> 01:05:36.280
I hope to instill that back into the younger generation

1309
01:05:36.800 --> 01:05:39.000
and that they learn that in terms of their money,

1310
01:05:39.119 --> 01:05:43.000
you know, not to squander it on that.

1311
01:05:43.519 --> 01:05:47.000
Like cultural idea, I mean, I hope that we're going

1312
01:05:47.039 --> 01:05:49.159
back to what we say and changes. Yeah, I want

1313
01:05:49.199 --> 01:05:53.559
to see education change. Okay, why it's so hard to

1314
01:05:53.800 --> 01:05:56.320
have people now And if it goes back to the States,

1315
01:05:56.320 --> 01:05:58.960
it'll be great to where they're teaching about real life

1316
01:05:59.079 --> 01:06:01.880
things being one of them. It's not going to come

1317
01:06:01.920 --> 01:06:04.840
from their parents because most parents don't understand it either.

1318
01:06:05.119 --> 01:06:08.119
So they go through this generation of generation. So it'd

1319
01:06:08.119 --> 01:06:13.559
be great to see education and in high schools change

1320
01:06:13.800 --> 01:06:16.920
and college. It's where people are understanding more about what

1321
01:06:16.960 --> 01:06:17.280
it is.

1322
01:06:17.199 --> 01:06:19.079
It is one of all the classes that had any

1323
01:06:19.159 --> 01:06:24.480
practical application. They're removed. You know, home economics. There used

1324
01:06:24.480 --> 01:06:26.239
to be in our school there was woodwork and you

1325
01:06:26.280 --> 01:06:28.159
could choose any of these things you wanted to learn

1326
01:06:28.199 --> 01:06:30.800
how to practically do. They don't have those options anymore.

1327
01:06:30.960 --> 01:06:33.079
I will say, Tuson High does they have a class

1328
01:06:33.079 --> 01:06:34.880
called entrepreneur class.

1329
01:06:34.360 --> 01:06:36.000
That's it's the first time I've heard.

1330
01:06:35.920 --> 01:06:36.599
This in high school.

1331
01:06:36.639 --> 01:06:39.280
It's you have like a they do a stock market

1332
01:06:39.280 --> 01:06:41.639
simulation for the year. Love that, which is awesome because

1333
01:06:41.639 --> 01:06:44.480
I didn't do that until I got into my master's program. Yeah,

1334
01:06:44.639 --> 01:06:46.119
and that's as I haven't even heard of that in

1335
01:06:46.199 --> 01:06:47.920
high school. But it's really cool that they're doing that now.

1336
01:06:48.039 --> 01:06:49.840
They're trying to get them in that mindset. Like I

1337
01:06:49.920 --> 01:06:51.679
select few students from the school.

1338
01:06:52.000 --> 01:06:53.800
I think it's so great. This is when the mind

1339
01:06:53.840 --> 01:06:55.840
is like a sponge, right, so getting to them young,

1340
01:06:56.400 --> 01:06:58.840
it's going to get that spark there of how can

1341
01:06:58.880 --> 01:07:00.679
I do this in practice application?

1342
01:07:00.800 --> 01:07:02.519
But I would love to and Dylan s heard this before.

1343
01:07:02.519 --> 01:07:04.239
I would love to teach a class that changes that

1344
01:07:04.280 --> 01:07:07.480
whole idea of how you do it. Because everything's money oriented, right.

1345
01:07:08.519 --> 01:07:10.320
You're graded on how much money you make. You're in

1346
01:07:10.320 --> 01:07:12.480
a class, meaning if you come to class, like going

1347
01:07:12.480 --> 01:07:14.920
to work, you get paid. You don't come to class,

1348
01:07:15.079 --> 01:07:18.079
you don't get paid. Okay, if you if you're going

1349
01:07:18.079 --> 01:07:21.159
ahead and you're doing presentations on businesses and stuff, the

1350
01:07:21.239 --> 01:07:24.559
first place team gets one hundred grand, second place team

1351
01:07:24.599 --> 01:07:27.039
fifty grand, the third place team twenty five. You come

1352
01:07:27.039 --> 01:07:30.199
and last you get nothing. It's real life, getting along

1353
01:07:30.199 --> 01:07:32.400
with people doing things. And at the end, you need

1354
01:07:32.440 --> 01:07:34.039
to make a million dollars to be able to get

1355
01:07:34.079 --> 01:07:35.719
an a. You know what I mean. If everyone gets

1356
01:07:35.719 --> 01:07:38.440
a million dollars, they all get it, teach them about

1357
01:07:38.480 --> 01:07:41.239
it and have them talk in numbers that make them

1358
01:07:41.280 --> 01:07:45.039
excited and do it. And you know what, I think,

1359
01:07:45.360 --> 01:07:48.440
you start changing the way we teach other than the

1360
01:07:48.480 --> 01:07:51.360
old school way of you know, one plus one, Yeah,

1361
01:07:51.400 --> 01:07:53.519
you need to learn that, but the rest of it,

1362
01:07:54.079 --> 01:07:56.000
use a calculator. I don't even know how.

1363
01:07:55.920 --> 01:07:57.679
To use a calculator. Then you have to see my

1364
01:07:57.760 --> 01:08:00.360
daughter struggles with math or she has and she's in

1365
01:08:00.400 --> 01:08:02.280
high school and now they're doing statistics. And she came

1366
01:08:02.320 --> 01:08:04.199
home and she goes, this makes so much sense to

1367
01:08:04.239 --> 01:08:06.639
me because it has a practical application, and I understand,

1368
01:08:06.639 --> 01:08:09.079
and I'm like, you know what, you're right. I don't

1369
01:08:09.119 --> 01:08:11.039
know why they're teaching you all these things that you'll

1370
01:08:11.079 --> 01:08:15.039
never ever use. But then you know, here's something.

1371
01:08:14.800 --> 01:08:16.239
I'd love to do all the time when I go

1372
01:08:16.279 --> 01:08:18.720
out with people and the check and you know, check

1373
01:08:18.760 --> 01:08:22.960
comes and go, Okay, how much tip you want to give? Okay,

1374
01:08:23.199 --> 01:08:25.399
what's what's twenty percent of this? They got to take

1375
01:08:25.439 --> 01:08:27.880
how to care their phones and calculate it. I said,

1376
01:08:27.880 --> 01:08:30.319
what's ten percent? I said, it's half of what you

1377
01:08:30.439 --> 01:08:33.319
just did. Then I've thrown full loop. What's fifteen percent?

1378
01:08:33.600 --> 01:08:36.840
They can't calculate that out without using their phone.

1379
01:08:36.840 --> 01:08:38.760
Maybe you should do this on your podcast. So you're

1380
01:08:38.760 --> 01:08:41.000
doing all these educational things, maybe do a few that

1381
01:08:41.239 --> 01:08:45.640
resonate with younger kids. Maybe teaching them just about basics

1382
01:08:45.640 --> 01:08:46.119
of money.

1383
01:08:47.279 --> 01:08:49.399
Young kids, they don't know how to do it.

1384
01:08:50.079 --> 01:08:51.680
That's true. Well, we got to start from the bottom

1385
01:08:51.720 --> 01:08:55.279
and all our way up. Listen, everybody who's watching the

1386
01:08:55.279 --> 01:08:57.880
show has a different question, right, We all have different

1387
01:08:58.000 --> 01:09:01.079
scenarios in our lives. We have different problems, different you know,

1388
01:09:01.720 --> 01:09:04.399
we have different goals in mind. But the reality is

1389
01:09:04.399 --> 01:09:06.119
is that we all need a plan and if we

1390
01:09:06.119 --> 01:09:07.880
don't have one, how are we going to know whether

1391
01:09:07.920 --> 01:09:08.960
we're on the right path or not.

1392
01:09:09.880 --> 01:09:11.680
Yeah, and that's the big thing you're saying before we

1393
01:09:11.800 --> 01:09:14.239
ended last break was a lot of people don't have

1394
01:09:14.279 --> 01:09:16.439
a plan, and it's because in the past the plan

1395
01:09:16.520 --> 01:09:18.760
costs two three four thousand dollars. So a lot of

1396
01:09:18.760 --> 01:09:20.279
people they're like, Okay, if I don't have millions, if

1397
01:09:20.279 --> 01:09:22.680
I'm not part of a family office, I'm not going

1398
01:09:22.760 --> 01:09:24.520
to get a plan. I don't need one in that

1399
01:09:24.560 --> 01:09:27.039
But that's why we're offering it for free because we

1400
01:09:27.079 --> 01:09:29.199
want to have it out there for everybody to be

1401
01:09:29.239 --> 01:09:32.000
able to have their financial plan. Everybody needs a financial plan,

1402
01:09:32.199 --> 01:09:34.199
regardless of the amount of money you have. Everybody will

1403
01:09:34.199 --> 01:09:36.640
be in retirement at some point. Everybody strives for retirem,

1404
01:09:36.680 --> 01:09:40.359
everybody strives to go travel and be financially free. So

1405
01:09:40.439 --> 01:09:43.199
everybody deserves a financial plan, and that's why we're always

1406
01:09:43.279 --> 01:09:45.319
doing it for free and we're not trying to charge

1407
01:09:45.319 --> 01:09:45.920
you that much more.

1408
01:09:46.000 --> 01:09:47.720
Well, aside from the fact that it's free. What I

1409
01:09:47.840 --> 01:09:51.840
like is that I feel comfortable asking questions not you know,

1410
01:09:52.479 --> 01:09:54.159
you know, there is a sense, like I said before,

1411
01:09:54.199 --> 01:09:55.920
of pride and you don't want to be judged. And

1412
01:09:55.960 --> 01:09:58.680
I feel like you are all are very much on

1413
01:09:58.720 --> 01:10:01.560
the same page with your clients, which is like we

1414
01:10:01.600 --> 01:10:03.840
all want we all want the same things, right. We

1415
01:10:03.880 --> 01:10:06.479
want to be happy, healthy, be able to travel, enjoy

1416
01:10:06.479 --> 01:10:09.000
our family like and these are essentials and I don't

1417
01:10:09.199 --> 01:10:11.079
I would love to do to have somebody in my

1418
01:10:11.159 --> 01:10:12.680
corner that understands that this is.

1419
01:10:12.680 --> 01:10:16.000
What we believe. People say, nothing's for free. You're going

1420
01:10:16.039 --> 01:10:18.039
to try to sell this, sell that, And this is

1421
01:10:18.159 --> 01:10:21.319
what I always say to them. I said, listen, yes,

1422
01:10:21.359 --> 01:10:24.119
we're in business, but it is free, which means we're

1423
01:10:24.119 --> 01:10:26.680
not charging you for it and we're not holding it back.

1424
01:10:26.720 --> 01:10:29.119
We will give it to you if you have to

1425
01:10:29.119 --> 01:10:31.560
do business. We believe that we're want of the people

1426
01:10:31.560 --> 01:10:33.560
you might want to do business with, because we're the

1427
01:10:33.600 --> 01:10:36.600
ones spending the time explaining everything to you, educating you.

1428
01:10:36.920 --> 01:10:39.399
If you feel that to somebody better, somebody that you

1429
01:10:39.520 --> 01:10:43.319
think is that can be there for you, then that's fine.

1430
01:10:43.800 --> 01:10:46.239
We're lucky that over the thirty five years i've been

1431
01:10:46.279 --> 01:10:49.680
in Tucson. We've had a lot of people that trust us,

1432
01:10:49.880 --> 01:10:51.760
believe in us, and want to do business with us,

1433
01:10:51.880 --> 01:10:54.000
and we've been able to build it. So why change

1434
01:10:54.319 --> 01:10:58.279
from educating instead of sales? Why change from building a

1435
01:10:58.319 --> 01:11:01.720
relationship than a short term relationship. Those are the things

1436
01:11:01.720 --> 01:11:03.800
that I believe in. And at the end of the day,

1437
01:11:03.800 --> 01:11:06.520
you're going to have to deal with someone. I just

1438
01:11:06.560 --> 01:11:08.720
want to have the opportunity to try to deal with us.

1439
01:11:09.680 --> 01:11:11.760
And there's coffee, right, We've talked about this.

1440
01:11:12.039 --> 01:11:13.199
It's what there's a coffee.

1441
01:11:13.279 --> 01:11:15.119
Yeah, I know you don't drink it, but the rest

1442
01:11:15.119 --> 01:11:18.640
of us. You remember, listen, I always learned so much

1443
01:11:18.680 --> 01:11:21.199
when I'm with both of you, and I think if

1444
01:11:21.239 --> 01:11:23.680
we've taken anything from today, it's why not. I mean,

1445
01:11:23.720 --> 01:11:25.600
the budget doesn't have to be the dirty bee word.

1446
01:11:25.880 --> 01:11:28.000
There might be good things that come out. Likely there

1447
01:11:28.039 --> 01:11:30.000
will be good things that come out of these conversations.

1448
01:11:30.199 --> 01:11:31.800
If anything, the best thing that comes out of it

1449
01:11:31.840 --> 01:11:33.800
is you find out where you're at and get on

1450
01:11:33.800 --> 01:11:35.880
the right road if you're not where you want to be.

1451
01:11:36.279 --> 01:11:38.960
Thank you so much for trusting us with your money matters.

1452
01:11:38.960 --> 01:11:47.159
We hope you'll join us on the next show. Hello,

1453
01:11:47.239 --> 01:11:50.199
and welcome to Money Matters. I'm Sarah Peterson here with

1454
01:11:50.279 --> 01:11:55.800
Todd Glick and Dylan Greenberg, the team from Greenberg Financial Group. Hello, gentlemen,

1455
01:11:56.039 --> 01:11:58.560
good morning, Lucky me. I got the both of you today,

1456
01:11:59.039 --> 01:12:01.239
and your dad's not here to tell us all the

1457
01:12:01.279 --> 01:12:04.439
political nightmares that are going on right now. That upsides

1458
01:12:04.479 --> 01:12:06.520
the down. So we're going to get the rest tags

1459
01:12:06.560 --> 01:12:09.279
today and talk about money because that's what we talk about,

1460
01:12:09.319 --> 01:12:12.760
right exactly exactly. So one thing I love about both

1461
01:12:12.800 --> 01:12:15.520
of you is that you really do educate people on

1462
01:12:15.720 --> 01:12:19.039
specifics of spending and what that actually means. And so

1463
01:12:19.079 --> 01:12:21.439
today we're going to talk a lot more about how

1464
01:12:21.479 --> 01:12:24.560
the little decisions that we make on a daily basis

1465
01:12:24.640 --> 01:12:28.640
do really genuinely add up to bigger financial decisions in

1466
01:12:28.680 --> 01:12:29.199
the long run.

1467
01:12:29.359 --> 01:12:31.880
Yeah, I mean, really, the ultimate thing is compound interest.

1468
01:12:32.199 --> 01:12:35.000
That is something that young people don't understand is that's

1469
01:12:35.039 --> 01:12:36.520
the most valuable resource they have.

1470
01:12:36.600 --> 01:12:37.119
It's time.

1471
01:12:37.399 --> 01:12:39.159
And the earlier you can get started, the better you're

1472
01:12:39.159 --> 01:12:41.840
going to be. Ultimately, what's going to happen is you

1473
01:12:41.960 --> 01:12:44.920
have to start young and have a discipline habit. So,

1474
01:12:45.079 --> 01:12:48.239
for example, spending twenty dollars a day on say lunch

1475
01:12:48.359 --> 01:12:49.000
or going.

1476
01:12:48.760 --> 01:12:49.479
Out with friends.

1477
01:12:49.640 --> 01:12:52.399
If you instead invested that money each day for forty

1478
01:12:52.479 --> 01:12:56.359
years a ten percent annual compound growth rate, you're getting

1479
01:12:56.359 --> 01:13:00.479
to three point three million dollars forty years later, three

1480
01:13:00.520 --> 01:13:03.319
point three million. That's just twenty dollars a day. Imagine

1481
01:13:03.319 --> 01:13:06.840
all the frivolous spending that you're doing throughout the forty

1482
01:13:06.920 --> 01:13:09.399
years of really the accumulation phase when most people should

1483
01:13:09.399 --> 01:13:10.359
be building that nest egg.

1484
01:13:10.680 --> 01:13:12.960
But also the next question is where do you put

1485
01:13:13.000 --> 01:13:13.520
those money?

1486
01:13:13.640 --> 01:13:15.000
Right? What is the most.

1487
01:13:14.760 --> 01:13:17.039
Tax efficient account? Is it a roth is it a

1488
01:13:17.079 --> 01:13:19.079
four toh one K? Where are the accounts that you

1489
01:13:19.079 --> 01:13:20.560
should be investing this type of money?

1490
01:13:20.680 --> 01:13:22.960
Yeah, and with that, it depends on what you want.

1491
01:13:23.000 --> 01:13:24.720
I mean, if you put it into a traditional ira,

1492
01:13:25.039 --> 01:13:27.079
you're saving on taxes today because you're putting in a

1493
01:13:27.159 --> 01:13:28.439
pre tax but then you have to deal with the

1494
01:13:28.439 --> 01:13:31.199
taxes later on. If you're putting it into a roth ira,

1495
01:13:31.479 --> 01:13:32.880
you're going to pay the taxes today, but then you

1496
01:13:32.960 --> 01:13:36.279
never have to worry about taxes again, which for people

1497
01:13:36.359 --> 01:13:38.399
are in their twenties and early thirties and all that

1498
01:13:38.439 --> 01:13:41.439
we're saying roth ira. If you can do, it is

1499
01:13:41.760 --> 01:13:43.520
more proven one to do because you don't know what

1500
01:13:43.560 --> 01:13:44.920
taxesly gonna be when you're sixty.

1501
01:13:45.279 --> 01:13:47.039
Taxes are definitely going to be higher.

1502
01:13:47.119 --> 01:13:49.000
I mean, people don't understand that we're actually at a

1503
01:13:49.000 --> 01:13:51.319
historically low tax rate currently, and what are we add

1504
01:13:51.479 --> 01:13:53.359
historically high for a deficit.

1505
01:13:53.840 --> 01:13:54.680
Someone's going to have to.

1506
01:13:54.600 --> 01:13:56.560
Pay the bills eventually, and it's likely going to be

1507
01:13:56.640 --> 01:13:59.720
us through either inflation or higher taxes. So being able

1508
01:13:59.760 --> 01:14:02.199
to pay the tax bill today, getting that tax free

1509
01:14:02.199 --> 01:14:05.319
growth for say twenty thirty sometimes even forty years have

1510
01:14:05.439 --> 01:14:07.039
so much more tax savings for the end of the

1511
01:14:07.079 --> 01:14:10.000
plan than just putting it right away into the traditional

1512
01:14:10.039 --> 01:14:12.279
four to one K or traditional IRA and getting that

1513
01:14:12.319 --> 01:14:14.760
tax savings today. But you don't get the tax savings

1514
01:14:14.760 --> 01:14:16.960
down the road when tax rates are probably going to

1515
01:14:16.960 --> 01:14:18.640
be higher down the road. And so that's the little

1516
01:14:18.640 --> 01:14:19.800
bit of plan that you could do now.

1517
01:14:19.840 --> 01:14:21.439
Well, speaking of down the road, do you feel like

1518
01:14:21.479 --> 01:14:23.199
now is a good time for people to sort of

1519
01:14:23.239 --> 01:14:25.800
be making those decisions because there might be some changes

1520
01:14:25.840 --> 01:14:29.199
on the horizon with the tax plans, So maybe dealing

1521
01:14:29.199 --> 01:14:29.880
with what we know.

1522
01:14:30.600 --> 01:14:32.039
Right, I mean, at the end of last year, we

1523
01:14:32.039 --> 01:14:34.319
were definitely thinking at the end of twenty twenty five,

1524
01:14:34.479 --> 01:14:36.960
depending on who's going to get in the office, will

1525
01:14:37.000 --> 01:14:39.560
we have that extension of the twenty twenty five you

1526
01:14:39.600 --> 01:14:42.079
know tax ak that was brought in twenty seventeen that

1527
01:14:42.119 --> 01:14:44.960
would bring everyone's tax brackets up about two percent if

1528
01:14:45.000 --> 01:14:48.720
it was to be extended. But instead Trump got in

1529
01:14:48.760 --> 01:14:50.840
and you have the House and the Senate with the

1530
01:14:50.880 --> 01:14:53.039
red side, so it's likely going to be that that

1531
01:14:53.079 --> 01:14:55.760
will be extended and no one's taxes are going to

1532
01:14:55.760 --> 01:14:57.159
be changed, So then the question is, well, should I

1533
01:14:57.199 --> 01:14:59.920
be doing roth conversions then if taxes aren't going to change, well,

1534
01:15:00.119 --> 01:15:02.600
still four years from now taxes might be higher. So

1535
01:15:02.640 --> 01:15:05.079
you can have a four year window now of knowing

1536
01:15:05.239 --> 01:15:07.159
taxes might not go higher in the next four years.

1537
01:15:07.199 --> 01:15:09.520
So that's a perfect opportunity to do some planning now

1538
01:15:09.600 --> 01:15:11.319
before they do into the future. No one has a

1539
01:15:11.359 --> 01:15:13.560
crystal ball ten years out, and so that we have

1540
01:15:13.600 --> 01:15:15.159
to be able to plan for what we know now.

1541
01:15:15.479 --> 01:15:17.720
Yeah, we have been talking about rock conversion with clients

1542
01:15:17.760 --> 01:15:19.920
a lot more recently because of that, and with it

1543
01:15:20.000 --> 01:15:21.920
being extended, we say there's a little more breathing room.

1544
01:15:21.960 --> 01:15:24.359
But if you're thinking about them come in and meet

1545
01:15:24.359 --> 01:15:25.960
with us, and we can put it into our financial

1546
01:15:26.000 --> 01:15:29.279
plan and it easily. We can go through all the

1547
01:15:29.279 --> 01:15:30.319
scenarios very easily.

1548
01:15:30.640 --> 01:15:33.319
We have a very interesting tax planning tool that will

1549
01:15:33.319 --> 01:15:35.359
show you all the different income bracket levels that you

1550
01:15:35.359 --> 01:15:37.680
could be at and with all the different income sources

1551
01:15:37.680 --> 01:15:40.720
you could have, Social Security pensions, even rm ds, and

1552
01:15:40.720 --> 01:15:43.439
how that's going to impact your tax picture throughout the

1553
01:15:43.479 --> 01:15:46.039
different phases of retirement. So especially with people who are

1554
01:15:46.039 --> 01:15:47.880
retiring at sixty five and they don't start those rm

1555
01:15:47.960 --> 01:15:50.399
ds until seventy three, well you have an eight year

1556
01:15:50.439 --> 01:15:52.920
window where you're not showing as much income because r

1557
01:15:52.920 --> 01:15:54.840
and ds haven't started yet. So those are the years

1558
01:15:54.880 --> 01:15:57.279
that you possibly could do some rock conversions to level

1559
01:15:57.319 --> 01:15:59.399
out that tax burden that you will see down the

1560
01:15:59.479 --> 01:16:01.279
road at potentially higher tax rates.

1561
01:16:01.279 --> 01:16:03.720
To sixty five still sounds so young to me for retirement.

1562
01:16:03.720 --> 01:16:07.199
Are you starting to see people retiring later or it's.

1563
01:16:07.520 --> 01:16:10.000
Nothing really the same. I mean it's all over the board.

1564
01:16:10.079 --> 01:16:10.279
Yeah.

1565
01:16:10.279 --> 01:16:13.920
Really, we have anybody retiring from fifty five to seventy five,

1566
01:16:14.279 --> 01:16:15.800
and most of the time if they're retiring from fifty

1567
01:16:15.800 --> 01:16:17.600
fives because they've been with the same company for thirty

1568
01:16:17.680 --> 01:16:19.880
years and they get the pension. So they're going to

1569
01:16:19.880 --> 01:16:21.600
go back, like we talked about it in another episode,

1570
01:16:21.600 --> 01:16:24.279
as they go back to be an independent contractor, they

1571
01:16:24.319 --> 01:16:26.359
get their pension and then they're still getting paid through

1572
01:16:26.399 --> 01:16:26.880
their recre.

1573
01:16:26.840 --> 01:16:29.079
Yeah, not ready to stop working, but ready to stop

1574
01:16:29.439 --> 01:16:30.600
doing that current.

1575
01:16:30.359 --> 01:16:31.319
Job in that career.

1576
01:16:31.359 --> 01:16:33.760
And some of the federal employees that come with the

1577
01:16:33.840 --> 01:16:36.199
pensions and their TSP, we have a lot of work

1578
01:16:36.239 --> 01:16:38.880
with them, as well as firefighters and police officers who

1579
01:16:39.039 --> 01:16:41.119
get their own drop program and things that are a

1580
01:16:41.119 --> 01:16:43.960
little more specific to their retirement benefits. We have experience

1581
01:16:44.039 --> 01:16:45.800
in all those realms, so we're able to help a

1582
01:16:45.800 --> 01:16:48.760
lot of different municipality employees as well as government employees.

1583
01:16:49.399 --> 01:16:53.039
How about small businesses, it seems like a sticky situation

1584
01:16:53.119 --> 01:16:56.680
when you don't really know what your income is every year,

1585
01:16:57.039 --> 01:16:58.680
it's not predictable.

1586
01:16:58.760 --> 01:17:01.000
Well, small small businesses have a lot more advantages than

1587
01:17:01.039 --> 01:17:03.840
the regular individual because of itemization. There's a lot of

1588
01:17:03.840 --> 01:17:06.680
more tax strategies you can do. Especially sometimes you have

1589
01:17:06.760 --> 01:17:09.239
to see what's the best retirement vehicle for my small business.

1590
01:17:09.279 --> 01:17:11.439
Is it a simple array a set iray or should

1591
01:17:11.439 --> 01:17:13.159
I set up a solo K or some type of

1592
01:17:13.239 --> 01:17:15.319
four to one K for all the employees as well

1593
01:17:15.319 --> 01:17:17.840
as myself. It really depends on how much you're trying

1594
01:17:17.920 --> 01:17:19.960
to put away each and every year, because each one

1595
01:17:20.000 --> 01:17:22.840
of those accounts have different contribution limits, So you have

1596
01:17:22.920 --> 01:17:25.159
to come in tell us what are you wanting to

1597
01:17:25.520 --> 01:17:27.960
hide from the government? Right because when you put money

1598
01:17:27.960 --> 01:17:31.119
into retirement accounts, that gets deducted off your taxable income.

1599
01:17:31.359 --> 01:17:32.840
And at some points, if you set up a four

1600
01:17:32.880 --> 01:17:34.960
oh one K for a small business, you're able to

1601
01:17:34.960 --> 01:17:38.920
match yourself as the employee and you get a business

1602
01:17:38.920 --> 01:17:41.520
deduction for the business income as well as you're putting

1603
01:17:41.520 --> 01:17:43.840
money away for your retirement. So there's a lot of

1604
01:17:43.840 --> 01:17:47.920
strategies for small business owners that have the regular individual

1605
01:17:48.079 --> 01:17:48.520
won't get.

1606
01:17:49.239 --> 01:17:52.560
This is great. This is like having your own personal CFO.

1607
01:17:52.880 --> 01:17:55.560
I love this because I think these are all questions.

1608
01:17:55.600 --> 01:17:58.560
I mean, we're just constantly working right to the next level,

1609
01:17:58.600 --> 01:18:00.600
and there's not really time to set stop and kind

1610
01:18:00.600 --> 01:18:02.560
of look at the big picture stuff unless you really

1611
01:18:02.600 --> 01:18:06.039
make that a priority. And I'm actually surprised at how

1612
01:18:06.119 --> 01:18:09.239
much time can go by and people end up close

1613
01:18:09.239 --> 01:18:11.319
to retirement never having these conversations.

1614
01:18:11.560 --> 01:18:12.159
That's exactly.

1615
01:18:12.319 --> 01:18:14.960
We're the CFO, you're the CEO. You tell us the

1616
01:18:15.000 --> 01:18:17.239
goals and objectives that we have to put into the plan,

1617
01:18:17.479 --> 01:18:19.479
and we'll tell you how is the most efficient way

1618
01:18:19.479 --> 01:18:19.960
to get there.

1619
01:18:20.039 --> 01:18:21.760
I keep telling my husband, I'm the CEO, and it

1620
01:18:21.760 --> 01:18:24.199
doesn't listen to me. So if you haven't had these

1621
01:18:24.239 --> 01:18:26.720
kinds of conversations before, or if you have a financial

1622
01:18:26.720 --> 01:18:29.840
advisor and maybe they're doing your investments, but you haven't

1623
01:18:30.439 --> 01:18:34.159
necessarily changed your thought process and shifted to retirement, it

1624
01:18:34.239 --> 01:18:38.039
is a completely different mindset looking at retirement and how

1625
01:18:38.039 --> 01:18:40.159
we're going to handle our money. This is a conversation

1626
01:18:40.279 --> 01:18:44.279
you need to have now, especially given all the changes

1627
01:18:44.279 --> 01:18:46.720
on the precipice. So that phone number is five two

1628
01:18:46.800 --> 01:18:49.319
zero five four four four nine zero nine. We'll take

1629
01:18:49.319 --> 01:18:51.720
a quick commercial break. We'll come back and talk more

1630
01:18:51.760 --> 01:18:54.840
with Todd and Dylan about how your little financial decisions

1631
01:18:54.880 --> 01:18:57.840
add up to big ones. We'll see you soon. Hello,

1632
01:18:57.840 --> 01:19:00.119
and welcome back to Money Matters. I'm Sarah Peters in

1633
01:19:00.199 --> 01:19:03.119
here with Todd Glick and Dylan Greenberg. The little financial

1634
01:19:03.159 --> 01:19:06.720
decisions we make every day, they do really add up

1635
01:19:06.880 --> 01:19:08.479
to big decisions.

1636
01:19:09.119 --> 01:19:14.920
I do. Yeah, you have a great well example, yeah, four.

1637
01:19:14.720 --> 01:19:17.439
Of what cop found interest really does? Yeah, yeah, I

1638
01:19:17.479 --> 01:19:19.880
love this one. We talk about this in our seminars sometimes,

1639
01:19:19.880 --> 01:19:21.920
where if you were able to fold a piece of paper,

1640
01:19:21.960 --> 01:19:24.119
a regular piece of paper on top of itself as

1641
01:19:24.119 --> 01:19:25.840
many times, I know, you can't really do it more

1642
01:19:25.880 --> 01:19:28.800
than about eight times before it's impossible. Right, But if

1643
01:19:28.840 --> 01:19:30.800
theoretically you could keep folding a piece of paper on

1644
01:19:30.840 --> 01:19:32.680
top of itself, how many times do you have to

1645
01:19:32.680 --> 01:19:34.039
fold a piece of paper.

1646
01:19:33.920 --> 01:19:35.600
Before it reaches from the Earth to the moon.

1647
01:19:37.399 --> 01:19:41.399
So number, I don't know, three billion.

1648
01:19:41.159 --> 01:19:44.439
Three billion times. The answer is surprising to everyone. It's

1649
01:19:44.479 --> 01:19:47.880
forty two. Only forty two times does it take to

1650
01:19:47.880 --> 01:19:49.520
fold a piece of paper on top of itself for

1651
01:19:49.600 --> 01:19:50.880
it to read from the Earth to the moon.

1652
01:19:51.560 --> 01:19:54.279
Look it up. It's true. It's because of compound interest.

1653
01:19:54.319 --> 01:19:57.760
The human burning does not compute compound because we don't

1654
01:19:57.760 --> 01:20:01.119
think in exponentials and so so our brain will never

1655
01:20:01.159 --> 01:20:04.560
be able to truly understand compound interest and how powerful

1656
01:20:04.600 --> 01:20:06.600
it is. It truly is the eighth wonder of the world,

1657
01:20:06.840 --> 01:20:08.439
and it's why every single one of us has to

1658
01:20:08.439 --> 01:20:09.479
take advantage of it.

1659
01:20:09.560 --> 01:20:12.560
And for everybody young. There's another example that if you're both.

1660
01:20:12.600 --> 01:20:15.800
So say two twenty year olds start investing, but the

1661
01:20:15.840 --> 01:20:17.880
one twenty year old wats until thirty to start, and

1662
01:20:17.920 --> 01:20:20.239
the other one puts five thousand dollars a year away

1663
01:20:20.479 --> 01:20:23.359
until age thirty, each year until age thirty. Then he stops,

1664
01:20:23.520 --> 01:20:25.840
never puts any more money away, and then they both

1665
01:20:25.840 --> 01:20:27.520
take the money out of age sixty. The other one

1666
01:20:27.560 --> 01:20:30.359
starts at age thirty, puts five thousand dollars away each

1667
01:20:30.439 --> 01:20:31.479
year until age sixty.

1668
01:20:31.840 --> 01:20:33.000
Who has more money at the.

1669
01:20:33.039 --> 01:20:35.600
End, So that idea is versus ten years of early

1670
01:20:35.640 --> 01:20:38.680
investment or waiting ten years and doing thirty years of

1671
01:20:38.680 --> 01:20:40.840
investment after waiting ten years, who.

1672
01:20:40.680 --> 01:20:42.119
Would you think has more money at the end.

1673
01:20:42.319 --> 01:20:43.840
Now that you're asking me, of course, I'm going to

1674
01:20:43.880 --> 01:20:46.239
say the guy that does it at twenty exactly.

1675
01:20:46.399 --> 01:20:48.960
And the reason is is compounding interest, because the last

1676
01:20:49.079 --> 01:20:52.239
doubles later on his are doubling so much more because

1677
01:20:52.239 --> 01:20:54.439
he did it early. So we tell everybody, and that's

1678
01:20:54.439 --> 01:20:56.960
why we also have clients who bring their grandchildren in

1679
01:20:57.520 --> 01:21:00.239
to just learn how to invest. Open a roth iray them,

1680
01:21:00.279 --> 01:21:03.680
open a custodial account, a uniform trust, a minors account,

1681
01:21:04.000 --> 01:21:06.439
something like that. They just want their grandkids to start

1682
01:21:06.520 --> 01:21:09.079
learning early because they know the importance of it. When

1683
01:21:09.079 --> 01:21:11.520
they're seventy, they understand the importance of it, but how

1684
01:21:11.520 --> 01:21:13.399
can they get through to their nineteen year old grand kid.

1685
01:21:13.600 --> 01:21:15.520
We had a really fun example of a client who

1686
01:21:15.560 --> 01:21:17.439
said that it has some extra money that they wanted

1687
01:21:17.479 --> 01:21:19.760
to give to the kids. There are seven kids, and

1688
01:21:19.800 --> 01:21:21.520
they wanted to give a thousand dollars to each kid

1689
01:21:21.520 --> 01:21:23.520
and they could pick a stock on December twenty fourth,

1690
01:21:23.640 --> 01:21:26.279
and whatever stock has the most value one year later,

1691
01:21:26.319 --> 01:21:28.920
they'll double that value to the winner, to the kid

1692
01:21:29.000 --> 01:21:31.000
that wins. Right, But it's an easy way for a

1693
01:21:31.079 --> 01:21:33.960
kid just to be able to experience the stock market. Obviously,

1694
01:21:33.960 --> 01:21:36.520
the parent has the money in their individual brokerage account

1695
01:21:36.560 --> 01:21:38.840
and they have full control over it. But it gets

1696
01:21:38.880 --> 01:21:41.800
the young kids involved and understanding what the market can do.

1697
01:21:41.960 --> 01:21:45.000
Also the different risks of investment, you know, because they're

1698
01:21:45.039 --> 01:21:45.680
not all equal.

1699
01:21:45.760 --> 01:21:47.960
Yeah, it'll learn what it's like to lose, what it's

1700
01:21:48.000 --> 01:21:51.800
like to win. It's very powerful at a young age.

1701
01:21:51.520 --> 01:21:53.279
And that brings us to risk. You know what we

1702
01:21:53.279 --> 01:21:55.880
were talking about earlier. With the election, there's been a

1703
01:21:55.920 --> 01:21:58.600
lot of emotions, you know, whether you're excited or afraid

1704
01:21:58.640 --> 01:22:02.039
because of the result. Either emotions have no place in investing.

1705
01:22:02.399 --> 01:22:04.399
It comes down to the goals and objectives of the

1706
01:22:04.439 --> 01:22:06.840
plans and your risk tolerance. Everyone has a different goals

1707
01:22:06.880 --> 01:22:09.560
and objectives. Everyone have different risk tolerance. Putting those two

1708
01:22:09.640 --> 01:22:12.079
together is how we manage money.

1709
01:22:12.199 --> 01:22:14.680
Yeah, and we offer risk analyzer tool. So if you're

1710
01:22:14.680 --> 01:22:18.359
interested in getting a second look, doing a second opinion,

1711
01:22:18.680 --> 01:22:21.359
you're excited, that's trump one. You're a little nervous if

1712
01:22:21.399 --> 01:22:23.319
you want you just want to see where your count's at.

1713
01:22:23.520 --> 01:22:26.239
We offer a free risk and analyzer that goes along

1714
01:22:26.239 --> 01:22:29.039
with the financial plan that can show what your current

1715
01:22:29.039 --> 01:22:31.039
portfolio is at, and then we do the risk dollars question.

1716
01:22:31.039 --> 01:22:33.039
There we can see where your risk is and to

1717
01:22:33.039 --> 01:22:35.760
see if it's go in size. If it doesn't, where

1718
01:22:35.920 --> 01:22:36.880
do we change something?

1719
01:22:37.159 --> 01:22:38.880
Well, and I think you know, when you're younger, you're

1720
01:22:38.880 --> 01:22:41.439
at a mindset of Okay, well I messed up this year,

1721
01:22:41.520 --> 01:22:44.279
I spent too much, but I always have next year.

1722
01:22:44.319 --> 01:22:46.039
And as you get closer to retirement, there is not

1723
01:22:46.119 --> 01:22:48.800
so many next years. It's like we don't have time

1724
01:22:48.800 --> 01:22:49.319
to make up.

1725
01:22:49.680 --> 01:22:51.960
One thing we also love about our risk analyzing tools.

1726
01:22:52.000 --> 01:22:54.359
It gives you a number, very easy number to understand,

1727
01:22:54.439 --> 01:22:56.399
one to one hundred, one hundred being the most risky,

1728
01:22:56.479 --> 01:22:58.920
one being the most conservative, one is cash, one hundred

1729
01:22:59.039 --> 01:23:00.640
is going to be something like that coin or something

1730
01:23:00.680 --> 01:23:03.239
like that, and everything that falls in the middle. For example,

1731
01:23:03.359 --> 01:23:05.600
the S and P five hundred is about seventy three

1732
01:23:05.920 --> 01:23:07.279
that diversified index.

1733
01:23:07.880 --> 01:23:09.159
But as a composite of.

1734
01:23:09.079 --> 01:23:11.119
Your entire portfolio, we can find a number of what

1735
01:23:11.159 --> 01:23:13.119
your true risk score, and then we can use that

1736
01:23:13.239 --> 01:23:16.720
number to play with different scenarios based on history, meaning

1737
01:23:17.039 --> 01:23:19.319
what did your portfolio return in the two thousand and

1738
01:23:19.359 --> 01:23:22.039
eight bear market, what did return in the twenty thirteen

1739
01:23:22.119 --> 01:23:25.119
full market versus the S and P five hundred, and

1740
01:23:25.159 --> 01:23:27.960
you can then see what risk you have associated with

1741
01:23:28.000 --> 01:23:31.760
your plan and your portfolio versus the index, the market,

1742
01:23:31.960 --> 01:23:33.039
the S and P five hundred.

1743
01:23:33.119 --> 01:23:35.239
What we can also show you with that tool is

1744
01:23:35.479 --> 01:23:37.960
a tax i think called tax trag, which if you're

1745
01:23:37.960 --> 01:23:39.520
in a bunch of mutual funds, there could be hidden

1746
01:23:39.560 --> 01:23:42.000
fees in the sense that their expense ratios are high,

1747
01:23:42.159 --> 01:23:44.279
but you're not noticing that because your financial advisor's just

1748
01:23:44.319 --> 01:23:47.039
putting you in to these funds and they're diversified. So

1749
01:23:47.079 --> 01:23:49.239
they're in line with your risk. You could be getting

1750
01:23:49.319 --> 01:23:52.279
charge a lot of unnecessary fees that you don't know about.

1751
01:23:52.279 --> 01:23:54.720
So that's one thing that this also shows you, and

1752
01:23:54.760 --> 01:23:55.920
we can show you the idea of it.

1753
01:23:56.000 --> 01:23:58.640
Always amazed at how easy it is to hide fees

1754
01:23:58.680 --> 01:24:01.800
from people on when as a consumer, when you're trying

1755
01:24:01.840 --> 01:24:05.039
to find those answers, it is like finding a canary

1756
01:24:05.039 --> 01:24:07.319
and cole mine and just I don't know how they

1757
01:24:07.439 --> 01:24:11.119
It should be so much more transparent than it is. Hello,

1758
01:24:11.159 --> 01:24:13.720
and welcome back to money Matters. I'm Sarah Peterson here

1759
01:24:13.720 --> 01:24:17.199
with Toddslick and Dylan Greenberg of Greenberg Financial Group, and

1760
01:24:17.279 --> 01:24:20.600
we're talking about the new rules. It's going to be

1761
01:24:20.640 --> 01:24:22.760
twenty twenty five before we know it, and there's a

1762
01:24:22.760 --> 01:24:24.800
lot of new rules come around the corner. I know

1763
01:24:24.880 --> 01:24:26.880
I certainly am not reading up on this, so I'm

1764
01:24:26.920 --> 01:24:28.479
looking to you guys, tell me what's going on.

1765
01:24:28.680 --> 01:24:30.720
The IRS loves their rules and they have a couple

1766
01:24:30.760 --> 01:24:33.039
of updates for us come twenty twenty five. The first

1767
01:24:33.039 --> 01:24:35.319
one's going to be about the four to one K

1768
01:24:35.720 --> 01:24:38.399
contribution limits. They're going to be increased a little bit

1769
01:24:38.560 --> 01:24:40.479
for twenty twenty five on the individual level, you can

1770
01:24:40.479 --> 01:24:43.199
put away twenty three thousand, five hundred per year, and

1771
01:24:43.239 --> 01:24:46.119
then you can do an extra ketchup contribution of seven

1772
01:24:46.479 --> 01:24:48.279
five hundred dollars per year if you're over the age

1773
01:24:48.319 --> 01:24:51.239
of fifty. But there is a new extra ketchup contribution

1774
01:24:51.359 --> 01:24:53.760
that the IRS has just added, and it's only for

1775
01:24:54.000 --> 01:24:57.199
ages sixty to sixty three. This one allows you to

1776
01:24:57.239 --> 01:25:00.159
put eleven two hundred and fifty dollars on top of

1777
01:25:00.199 --> 01:25:02.880
the original twenty three thy five hundred per year, not

1778
01:25:03.039 --> 01:25:06.760
including company match and things like that. So it's irres

1779
01:25:06.920 --> 01:25:08.760
is trying to allow you to put more away. Also,

1780
01:25:08.840 --> 01:25:10.800
starting in twenty twenty five, some of you with four

1781
01:25:10.880 --> 01:25:13.239
one ks might see that you're automatically enrolled. That is

1782
01:25:13.239 --> 01:25:15.279
a new rule that the I arrest is stating that

1783
01:25:15.359 --> 01:25:17.960
all employees have to automatically get enrolled into four on

1784
01:25:17.960 --> 01:25:20.279
one K plans, but the employee can opt out and

1785
01:25:20.720 --> 01:25:22.840
choose to zero, but they actually have to go in

1786
01:25:22.880 --> 01:25:24.119
and do it themselves.

1787
01:25:24.640 --> 01:25:27.039
Wow. So if you didn't know that and you didn't

1788
01:25:27.079 --> 01:25:28.600
go in and physically do it, all of a.

1789
01:25:28.560 --> 01:25:31.279
Sudden, you're going to see a three percent paycheck pay deduction.

1790
01:25:31.359 --> 01:25:34.000
I feel like the default is always against us. Why

1791
01:25:34.119 --> 01:25:37.119
is that it's never like click the button, here's some

1792
01:25:37.159 --> 01:25:37.560
more money.

1793
01:25:37.640 --> 01:25:39.079
Yeah, but this is really against you.

1794
01:25:39.239 --> 01:25:41.439
Is I'm trying to just get you to do what

1795
01:25:41.520 --> 01:25:43.840
we try and teach people to do, start putting money away.

1796
01:25:44.079 --> 01:25:45.760
For sometimes it's just automatically.

1797
01:25:45.760 --> 01:25:49.119
So that's not what we're doing on every episode trying,

1798
01:25:49.439 --> 01:25:49.680
I know.

1799
01:25:49.800 --> 01:25:51.840
But if you automatically do it, some people are like, Okay,

1800
01:25:51.840 --> 01:25:53.560
that's already out of my paycheck, I'll just live with it.

1801
01:25:53.880 --> 01:25:55.800
Instead of them having to go into the computer and

1802
01:25:56.520 --> 01:25:58.199
choose three percent, they got to go in and choose

1803
01:25:58.279 --> 01:25:59.920
zero percent, which is probably less likely to do.

1804
01:26:00.199 --> 01:26:01.720
And most people also don't know that if you have

1805
01:26:01.760 --> 01:26:04.279
a traditional four one K or traditional row four one k,

1806
01:26:04.399 --> 01:26:06.199
obviously you can contribute to that, but if you have

1807
01:26:06.600 --> 01:26:09.680
under certain income limits, you can also contribute to the

1808
01:26:09.720 --> 01:26:13.159
regular roth IRA on top of your employer retirement plan

1809
01:26:13.520 --> 01:26:16.960
or the IRA the traditional IRA. So some people don't

1810
01:26:17.000 --> 01:26:19.000
realize that you can do both and that you're missing

1811
01:26:19.079 --> 01:26:22.079
on some extra retirement savings that you could potentially be doing.

1812
01:26:22.199 --> 01:26:23.880
Yeah, and that's like and also I mean if you

1813
01:26:24.079 --> 01:26:26.039
have a company, or you work for a company which

1814
01:26:26.039 --> 01:26:27.920
you also have like a side company, you can do

1815
01:26:28.079 --> 01:26:30.199
a set IRA for that too, if it means to guidelines.

1816
01:26:30.720 --> 01:26:33.199
IRA is individual retirement account, so you can do that

1817
01:26:33.239 --> 01:26:35.600
outside of working for a corporation that has a four

1818
01:26:35.680 --> 01:26:39.399
ro O one K. That's completely different, completely separate. And talking

1819
01:26:39.399 --> 01:26:42.239
more about iras, talk about the inherited iras, the new

1820
01:26:42.319 --> 01:26:45.920
rules coming into play. There's some stipulations when you inherited IRA.

1821
01:26:46.079 --> 01:26:49.560
It used to be you get it for the lifetime,

1822
01:26:49.640 --> 01:26:52.439
like if you're thirty and you inherit your grandparents IRA,

1823
01:26:52.520 --> 01:26:55.520
your grandpa's IRA, it'll take your lifetime to deplete it.

1824
01:26:55.720 --> 01:26:57.399
A few years ago they put it that it's ten

1825
01:26:57.479 --> 01:26:59.760
years that you have to deplete it, and it was

1826
01:26:59.840 --> 01:27:02.279
very vague. It was like used to be where people thought, Okay,

1827
01:27:02.319 --> 01:27:04.279
I can wait till you're ten, take it all out

1828
01:27:04.319 --> 01:27:06.399
and deal with it. Then it is actually you have

1829
01:27:06.439 --> 01:27:07.600
to take a little You have to take the R

1830
01:27:07.640 --> 01:27:10.640
and D, the requirement and distribution out at least that

1831
01:27:10.760 --> 01:27:12.880
each year up until the year ten. Then you got it,

1832
01:27:12.880 --> 01:27:15.800
deplete the rest of it, and if you don't take

1833
01:27:15.840 --> 01:27:17.760
it out in one of the years, you will get

1834
01:27:17.760 --> 01:27:20.640
a twenty five percent penalty. So they were being more

1835
01:27:20.680 --> 01:27:23.560
strict with it and being more straightforward with it now

1836
01:27:24.279 --> 01:27:26.720
moving forward starting in twenty twenty five, but there's some

1837
01:27:26.720 --> 01:27:28.920
stipulations with that as well. If you inherit an ira,

1838
01:27:29.119 --> 01:27:32.239
so say your husband passes and you inherit his ira,

1839
01:27:32.960 --> 01:27:35.159
you can put it into your own ira. It will

1840
01:27:35.199 --> 01:27:37.199
be your lifetime. It will be based off your lifetime.

1841
01:27:37.199 --> 01:27:38.880
You don't have to take it out in ten years.

1842
01:27:39.119 --> 01:27:41.119
If you are a child of under twenty one years

1843
01:27:41.159 --> 01:27:45.039
of age and you inherit it, you also get the lifetime.

1844
01:27:45.560 --> 01:27:48.000
And then if you are if you are disabled or

1845
01:27:48.079 --> 01:27:51.039
chronically ill, you also get the lifetime. And then if

1846
01:27:51.079 --> 01:27:54.720
say your brother had you as his beneficiary and he

1847
01:27:54.760 --> 01:27:57.039
passes away and he's only five years older than you,

1848
01:27:57.039 --> 01:27:58.359
you will have it for your lifetime.

1849
01:27:58.359 --> 01:27:59.560
You don't have to take it out.

1850
01:27:59.439 --> 01:28:02.239
In ten years rule if you're under ten years of a.

1851
01:28:02.359 --> 01:28:04.960
Younger, because the IRS knows they'll get their payment as

1852
01:28:05.000 --> 01:28:07.800
long as you're under ten years of the decedent. It's

1853
01:28:07.800 --> 01:28:09.760
all designed for the IRS to make sure they're get

1854
01:28:09.760 --> 01:28:12.319
their money. And they started this after twenty nineteen. So

1855
01:28:12.319 --> 01:28:15.399
if you inherited an ira after twenty twenty, and this

1856
01:28:15.479 --> 01:28:18.159
is for roth iras too, you have to take all

1857
01:28:18.159 --> 01:28:20.279
the money out by year ten, but you have to

1858
01:28:20.319 --> 01:28:22.279
take out a little bit each year based on your

1859
01:28:22.600 --> 01:28:24.039
own life expectancy.

1860
01:28:24.079 --> 01:28:26.359
And if we don't then there's this massive there's.

1861
01:28:26.159 --> 01:28:28.399
The penalties when the roth ira, though you don't get

1862
01:28:28.399 --> 01:28:30.000
tax on it or anything. I just want you to

1863
01:28:30.039 --> 01:28:31.960
take it out of the bucket so you can't pass

1864
01:28:32.039 --> 01:28:35.680
the same roth Ira bucket on to five generations.

1865
01:28:35.920 --> 01:28:38.399
And we're not expecting you to remember all these little things.

1866
01:28:38.479 --> 01:28:40.039
But this is just an idea of why you need

1867
01:28:40.079 --> 01:28:41.880
to come in and talk to us, because there's a

1868
01:28:41.880 --> 01:28:44.560
lot of intricacies about the new rules and to make

1869
01:28:44.600 --> 01:28:47.119
sure that you're being most efficient with your plan. But

1870
01:28:47.199 --> 01:28:49.039
also what we just talked about with tax planning in

1871
01:28:49.079 --> 01:28:51.399
the previous segment. When these r and ds do come

1872
01:28:51.439 --> 01:28:53.439
into play and we have to plan for them, how

1873
01:28:53.439 --> 01:28:56.000
does it impact your taxes now? And how can we

1874
01:28:56.000 --> 01:28:58.279
play some games to make sure that we're mitigating the

1875
01:28:58.319 --> 01:29:01.000
tax liability over the course of the entire plan exactly.

1876
01:29:01.039 --> 01:29:03.079
So if you have an inherited ira or you just

1877
01:29:03.079 --> 01:29:04.600
are about to inherit one, you're going to about to

1878
01:29:04.640 --> 01:29:06.720
get into your name and you have questions, come meet

1879
01:29:06.800 --> 01:29:08.800
us start next year so you don't wait till the

1880
01:29:08.880 --> 01:29:10.960
end of next year to get all these questions answered,

1881
01:29:10.960 --> 01:29:12.520
to start early and get well.

1882
01:29:12.520 --> 01:29:15.239
I mean, that's always the conversation, right is don't why wait?

1883
01:29:15.359 --> 01:29:17.239
I mean, we're also at a point where you're saying

1884
01:29:17.359 --> 01:29:19.560
a lot of things are about to change. We don't know,

1885
01:29:19.680 --> 01:29:22.479
We have no crystal ball to know which way the

1886
01:29:22.520 --> 01:29:25.000
wind is going to blow. So let's deal with what

1887
01:29:25.039 --> 01:29:27.640
we have now and figure out the best strategies to

1888
01:29:27.720 --> 01:29:30.479
manage your money with what's given exactly.

1889
01:29:30.600 --> 01:29:32.279
And then we have a lot of different games we

1890
01:29:32.319 --> 01:29:34.680
can play with what if scenarios in the financial plan,

1891
01:29:34.840 --> 01:29:36.760
and that's what we really love to do, and Dylan's

1892
01:29:36.760 --> 01:29:39.399
talked about this of seeing how much we can spend

1893
01:29:39.439 --> 01:29:42.720
before the plan breaks, but also factoring in different strategies,

1894
01:29:42.760 --> 01:29:44.840
like if we did a Roth conversion, how much tax

1895
01:29:44.840 --> 01:29:48.399
savings could we expect versus good investment return periods versus

1896
01:29:48.399 --> 01:29:50.960
bad investment return periods. Because what people don't understand with

1897
01:29:51.039 --> 01:29:53.000
Roth conversions, the only way you really are going to

1898
01:29:53.039 --> 01:29:55.520
save money is that tax free growth. So a good

1899
01:29:55.560 --> 01:29:59.079
investment return simulation versus a bad one will dictate how

1900
01:29:59.159 --> 01:30:01.880
much savings your actually having from those rock conversions. So

1901
01:30:01.880 --> 01:30:05.119
we're able to simulate a lot of different simulations situations.

1902
01:30:05.159 --> 01:30:06.920
I mean to show you what is going to be

1903
01:30:06.920 --> 01:30:08.199
the best thing to go forward with.

1904
01:30:08.359 --> 01:30:10.960
So if i I'm sending on the sofa and I'm thinking,

1905
01:30:11.239 --> 01:30:13.159
you know what this is, just I'm ready, like I

1906
01:30:13.359 --> 01:30:14.960
really need to talk about this now and get a

1907
01:30:15.000 --> 01:30:17.359
plan going. When I come to you, guys, am I

1908
01:30:17.439 --> 01:30:20.319
working with both of you, all of you one person?

1909
01:30:20.399 --> 01:30:21.039
How does it work?

1910
01:30:21.079 --> 01:30:22.560
You're going to be working with at least two of

1911
01:30:22.640 --> 01:30:25.960
us is myself, Todd and Sebastian will meet and do

1912
01:30:26.000 --> 01:30:27.720
the financial plan with you. Two of us will do

1913
01:30:27.760 --> 01:30:30.840
what we interchange everything, and then you also can talk

1914
01:30:30.880 --> 01:30:32.720
to Dean and Dave. They they're the ones I've been

1915
01:30:32.760 --> 01:30:34.600
in the business for forty years. Yeah, they are in

1916
01:30:34.640 --> 01:30:37.960
the sense of mentors, teaching myself and Todd in Sebastian.

1917
01:30:38.159 --> 01:30:41.199
But we'll do the technology part with the financial plan,

1918
01:30:41.479 --> 01:30:44.880
getting all those all that information, doing those meetings and

1919
01:30:44.960 --> 01:30:46.479
then but we all work as a team. So if

1920
01:30:46.479 --> 01:30:48.279
I'm not in the meeting and it's taught at Sebastian,

1921
01:30:48.680 --> 01:30:50.479
I know what's going on with their and vice versa.

1922
01:30:50.560 --> 01:30:54.039
Tod's not in a Sebastian and myself we're all working together, and.

1923
01:30:54.079 --> 01:30:56.319
The first meeting is really like an analysis. We're going

1924
01:30:56.359 --> 01:30:58.640
through seeing all your goals and objectives. The second meetings

1925
01:30:58.680 --> 01:31:01.079
where we're really giving you the suggestion and laying out

1926
01:31:01.079 --> 01:31:03.199
the plan based on what your goals and objectives were

1927
01:31:03.479 --> 01:31:05.439
and your risk tolerance, and then we show you what's

1928
01:31:05.800 --> 01:31:07.520
our decisions are going to be based on what we

1929
01:31:07.560 --> 01:31:09.000
think is most efficient for your plan.

1930
01:31:09.119 --> 01:31:10.800
I love it because you guys are so being into

1931
01:31:10.840 --> 01:31:12.680
the team approach, but this makes me feel like I

1932
01:31:12.720 --> 01:31:16.159
have a team that's rooting just for me, right, And

1933
01:31:16.520 --> 01:31:19.520
it's so amazing that you can go your whole life

1934
01:31:19.560 --> 01:31:21.399
and not know that this type of thing is available,

1935
01:31:21.840 --> 01:31:24.880
especially the way we're offering it free of charge with

1936
01:31:25.000 --> 01:31:27.840
the plan in hand, right to know if you're on

1937
01:31:27.880 --> 01:31:29.720
the right path or not. What is the downside? There

1938
01:31:29.720 --> 01:31:32.119
really is in any so, I'm just amazed by the

1939
01:31:32.119 --> 01:31:35.479
whole process. I can't believe the whole thing. I'm going

1940
01:31:35.520 --> 01:31:37.000
to go to the moon with forty.

1941
01:31:36.720 --> 01:31:38.920
Two forty two folds, that's always sure.

1942
01:31:39.000 --> 01:31:40.720
I believe. I am going to do my research with

1943
01:31:40.840 --> 01:31:43.720
you search it. I'm so off on that one. Thank

1944
01:31:43.720 --> 01:31:45.600
you so much for spending time with us. We hope

1945
01:31:45.600 --> 01:31:48.159
we educated you on your money matters. If you haven't

1946
01:31:48.159 --> 01:31:51.000
had these types of conversations before, or if you have

1947
01:31:51.159 --> 01:31:53.319
and it's been some time, please do give us a call.

1948
01:31:53.880 --> 01:31:56.439
These guys are amazing and we are just a team

1949
01:31:56.560 --> 01:31:58.560
ready to help support you in any way we can

1950
01:31:58.880 --> 01:32:02.359
five to zero five four nine zero nine, and we

1951
01:32:02.439 --> 01:32:05.000
will see you next time on money matters.

1952
01:32:11.880 --> 01:32:14.520
This is Money Matters with Dean Greenberg of the Greenberg

1953
01:32:14.600 --> 01:32:15.199
Financial Group.

1954
01:32:15.239 --> 01:32:16.359
I'm Spike Spangled Dean.

1955
01:32:16.520 --> 01:32:19.319
What really got you started in this industry?

1956
01:32:19.479 --> 01:32:21.840
It was because I was working for Ford Motor Company.

1957
01:32:22.000 --> 01:32:24.079
I had ordered all the dealerships and I kind of

1958
01:32:24.119 --> 01:32:25.800
looked at things and I said, this is not what

1959
01:32:25.880 --> 01:32:27.640
I want. So I went back and got my MBA

1960
01:32:27.720 --> 01:32:29.920
in Finance and Investments and said I'm going to work

1961
01:32:29.920 --> 01:32:31.920
on Wall Street. I didn't really know the journey I

1962
01:32:31.960 --> 01:32:34.600
was going to have until later on nineteen eighty seven

1963
01:32:34.640 --> 01:32:37.920
when the market crashed Black Monday. Black Monday. The only

1964
01:32:37.960 --> 01:32:41.079
person in a company of six hundred and some odd

1965
01:32:41.159 --> 01:32:43.760
brokers I was buying IBM and I opened a five

1966
01:32:43.880 --> 01:32:45.960
hundred thousand dollars acount. So they say to me, hey,

1967
01:32:46.279 --> 01:32:48.319
this is unbelievable. How did you do this. What did

1968
01:32:48.359 --> 01:32:50.960
you do? I just said, because I thought it was

1969
01:32:51.000 --> 01:32:53.319
the right thing to do. Down twenty percent, it was

1970
01:32:53.359 --> 01:32:55.000
probably good time to buy. And I was more of

1971
01:32:55.039 --> 01:32:58.199
a technician and an advisor and an educator at that time.

1972
01:32:58.279 --> 01:33:01.359
A long story short, they tell me a week later

1973
01:33:01.439 --> 01:33:04.079
I never owned the stock. The back offices back then

1974
01:33:04.239 --> 01:33:07.199
could not handle a billion shares a day. So a

1975
01:33:07.199 --> 01:33:08.680
week and a half later, they tell me I don't

1976
01:33:08.720 --> 01:33:10.800
own it, and I needed to call a client to

1977
01:33:10.880 --> 01:33:13.199
tell them they didn't own the stock, and I told

1978
01:33:13.199 --> 01:33:15.319
them that they should pay the client. Next day I

1979
01:33:15.399 --> 01:33:17.239
came in my box of stuff was in there. They

1980
01:33:17.239 --> 01:33:18.800
told me I was fired, and I went to go

1981
01:33:18.960 --> 01:33:20.720
see the guy knew to go get a job, and

1982
01:33:20.760 --> 01:33:23.000
he said, Dean, I'd hire you tomorrow, but you need

1983
01:33:23.039 --> 01:33:24.720
to start your own business. I laughed at him and said,

1984
01:33:24.720 --> 01:33:26.079
how am I going to start my own business? I

1985
01:33:26.119 --> 01:33:28.199
only have five thousand dollars. He said, figure it out.

1986
01:33:28.319 --> 01:33:32.199
We're all salesmen. You educate, you care about the markets,

1987
01:33:32.239 --> 01:33:35.319
you care about your clients. So I guess I figured

1988
01:33:35.319 --> 01:33:36.079
it out.

1989
01:33:38.119 --> 01:33:41.079
When was the last time you saw your financial professional?

1990
01:33:42.640 --> 01:33:43.680
Are you getting the most.

1991
01:33:43.479 --> 01:33:49.640
Out of the strategy that was created for you. Although

1992
01:33:49.640 --> 01:33:51.880
you've done a great job finding someone to help plan

1993
01:33:51.960 --> 01:33:54.960
for your future, are you one hundred percent sure that

1994
01:33:55.000 --> 01:33:58.680
you were given the right strategy. We can help answer

1995
01:33:58.720 --> 01:34:02.359
these questions and more with a complimentary second opinion evaluation.

1996
01:34:03.960 --> 01:34:05.359
We will take a look at what you have in

1997
01:34:05.399 --> 01:34:08.479
place and then help determine if you're well positioned to

1998
01:34:08.479 --> 01:34:11.680
get the most out of your future retirement income. In

1999
01:34:11.720 --> 01:34:14.159
the event that it is not, we can help by

2000
01:34:14.159 --> 01:34:16.640
making suggestions and showing you how to get on the

2001
01:34:16.720 --> 01:34:17.239
right path.

2002
01:34:18.840 --> 01:34:19.600
You wouldn't get.

2003
01:34:19.520 --> 01:34:21.960
Just one opinion when it comes to a major health decision,

2004
01:34:22.319 --> 01:34:25.560
so why would you treat your most important financial decision

2005
01:34:25.800 --> 01:34:30.239
with such disregard. Call today for your no costs, no obligation,

2006
01:34:30.600 --> 01:34:34.000
second opinion evaluation to see if you're getting the most

2007
01:34:34.199 --> 01:35:56.119
out of your retirement income plan.