July 6, 2025

Financial Fireworks: Trade Talks, Tech Updates, and Cautious Optimism

Financial Fireworks: Trade Talks, Tech Updates, and Cautious Optimism
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Financial Fireworks: Trade Talks, Tech Updates, and Cautious Optimism
Financial Fireworks: Trade Talks, Tech Updates, and Cautious Optimism
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This week on Money Matters, hosts Dave Sherwood, Todd Glick Jr., and Sebastian Borsini bring you a timely Independence Day edition focused on the latest market developments and financial planning insights. As markets reach new highs, we’ll discuss the factors behind the rally — including “Trumptimism,” solid corporate earnings, and recent trade changes such as new tariffs on Vietnam impacting companies like Nike, Lululemon, and Apple.

We’ll cover important topics like Apple’s moves in AI, the ongoing challenges in the solar sector, and standout stock performances from Robinhood and Coinbase. The team will also address the risks of chasing quick gains in today’s market, review recent bank stress test results, and share practical advice to help you manage your finances over the holiday weekend.

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Good morning. It's Sunday morning, July sixth. This is the

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Independence Day version of the Money Matter Show. I'm Dave Sherwood.

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I'm here with Todd click Junior. I'm here with Sebastian Borstein.

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We hope you're all enjoying what is the long weekend

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for many, with a fourth falling on a Friday. It

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worked out perfectly and we're now firmly actually in the

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actual monsoon season, not the pseudo monsoon season, but the

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actual mon season. We're hoping for frequent and significant rainfall.

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I have been asked over the last couple of weeks

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if Dean is fine, if Dean's health is okay. Dean

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is fine, Dean is enjoying an extended period with his family,

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and Dean is just fine. He will be back on

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the radio, although I think that he comes back from

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his trip and goes on another trip, so I'm not

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sure if it's going to be much before August, but

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we're trying to fill in. I know you missed the

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first half hour monologue. We all do, and you know,

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cause you've got to get get caught up on the

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politics there on that I always call it the political

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half hour for Dean, But I think you all know

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what's going on, and the market is is powering the

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new all time highs on all kinds of excitement about

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Trumpetomism and the new trade deals and corporate earnings being good.

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The economy is still being strong. Interest rates are starting

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to move higher. However, they did move higher this week.

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That's potentially problematic. It means that Paul probably doesn't lower

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interest rates in July.

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Yeah, I don't think that we have any expectations for

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a lowering in July, but he could signal of when

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he's going to do it in July, and that largely

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is going to be dependent on those labor reports and

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the inflation numbers. He said that inflation has no idea

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where it's going to be because of tariffs, and said

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even last week that he would have already cut if

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it wasn't for the tariffs. So that was one big

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headline that he I.

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Agree and I don't, Todd. I don't think we're gonna

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hear about when he's gonna cut because he doesn't know.

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It's like you said, just said, it's going to be

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dad to dependent. So maybe we'll have one or two

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cuts later this year. Maybe we won't.

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Well, what I'm trying to say is if there is

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another inflation report that comes out lower than expectations, that's

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when he might say, all right, data is starting to

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look good. We're looking to start lowering rates, maybe in

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the next meeting or the meeting after that.

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And I'm thinking, if he's starting to lower rates, that

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means the economy is softening. So maybe we don't want

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him to lower rate.

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Yeah, but we know how the market works. Bad news

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is good news, and right now all news is good news.

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Right now, all news is good news. Very well put,

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that's exactly getting periods like that where all news is

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good news. Sometimes all news is bad news, but right

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now all news is good news. Let's go pedals to

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the medal. Get me in. I had an eighty one

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year old client call me late in the week and said,

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we got to get in, man, we got to be

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more aggressive here. And today I always say, no, you've

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spent time determining your risk tolerance, and the worst thing

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that can happen is to get more aggressive at the

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top or more conservative at the bottom, which is very natural.

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It's very natural. But I told this gentleman who's sixty

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percent invested in the market. If the market keeps going,

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you're going to do just fine. And if it doesn't,

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you'll be fine as well. So just keep your risk

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tolerance in mind. When it's like this, there's a real

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fomo out there, you know, fear missing out that's really

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run and rampant right nowadays, and you can't make a mistake.

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The market goes up every day, right just to buy anything.

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One of the bigger headlines that came out this week,

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I think, was on Wednesday, and it was that the

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US struck a trade deal with Vietnam. Huge, huge trade deal.

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Right.

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You take a look at the numbers, and there were

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United States of America is going to impose a twenty

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percent tariff on Vietnam imports, right on imports from Vietnam.

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That's inflationary to me.

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No, there's no question about it. But who then they

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have become one of our primary suppliers. He went one

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more step though, and said forty percent tariffs if things

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are around about China's trying to ship things to US through.

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Vietnam, which happens quiet.

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I'm not sure how you can monitor that, but hopefully

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there's a way.

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It was very interesting to see the price action on

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those companies that have exposure to Vietnam, such as Nike

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and Lululemon. I think initially they ramped up and then

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ended up falling off toward the end of the day.

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I'm not sure how they finished the week out. But again,

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I just don't see how this could be such a

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you know, benefits.

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Yeah, they were pushing towards the highest Apple. Apple caught

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a bid this week. iPhone shares increased in China in

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June for the for the first time in two years.

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I think the more I think Apple caught the bid

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more so because of the news that was coming around

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to the Open AI. I don't know if you heard that,

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but they're saying that they want to integrate to the

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Open AI within the series. I think that that would

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be of that would help them out.

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Yeah, that was the primary thrust. We got a couple

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of point pop on the iPhone sales news, which is huge.

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But you know we've sat on the show many times.

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They need to buy somebody, they need to find somebody creative,

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they need to come up with something new.

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And just so you know, like I have chatgy bt

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already in the Siri in the iPhone. It's for the

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new ones, and I think it's like fifteen and above.

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So why was this such a big headline for I

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don't know.

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And I've already heard that headline before. They've already made

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that partnership, So I don't know why that now is

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coming out. Because if you've been on my phone for months.

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Well you say it's been on your phone todd as

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an app or No.

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It's built in. So there's an AI mode on the

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new phones, okay, And there's like a new button that

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you would hold and then it's just like Siri, and

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it's it asks you do you want to ask this

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through Siri or chatgy bt early and then it will

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go through chaggybt if you ask it.

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I don't know about you guys, but my experience with

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my iPhone is a serious lagging behind.

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Yeah. I never absolutely never use it.

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Yeah I don't. I don't either.

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I get annoyed if I use it. I mean, I'll

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ask it to set a reminder for tomorrow, and it's like,

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do you want to set a reminder for twenty seventy four? No?

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I don't.

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Yeah, it's it's not terrible with reminders.

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But probably it is lagging.

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Yeah, in terms of information gather.

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Also, let's think about it, like, okay, fine, you integrates

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the open AI, the chat GPT into Siri. That doesn't

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just generate all this profit for Apple as a company, right,

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I mean you sure does provide some data that they

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may be able to sell to other companies, But how

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do you monetize artificial intelligence within the phones?

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Like?

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Where is it going to go? Further than just Todd

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asking Siri a basic question?

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That that is, the stock is still twenty eight times

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earnings expense, very expensive stock based upon the earnings and

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the and the lack of consistent growth.

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Yeah, before we go in it further. The show is

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spun by the Greenberg Financial Group and you can listen

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on seven ninety K and st or iHeartRadio. This show

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discusses different investment products and strategies. Every product and strategy

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have some type of an inherent risk associated with it,

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and we strongly encourage our listeners to properly understand the

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risk of determine whether to buy, sell, or hold. Show

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has been on air for over thirty years. The Greenberg

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Financial Group is registered with the SEC. Visit our website

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at Greenberg Financial dot com for some more information. We're

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doing financial plans each and every day. Give us a

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call five two zero five four four four nine four

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nine zer nine.

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And my tagline to that is, if you hear us

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doc on the show, we're not recommending that stock because

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we don't know your investment objective, we don't know your

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risk profile. We're informational only, all right, So if we

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say this doc looks attractive, it may not be for you.

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It was not certainly not pointed.

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One of those stocks that we've been talking about on

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this show that we have not been recommending, but we've

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been talking about is First.

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Soldo Credible Day, incredible week, Yes.

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Back to back days of eight percent gains on Wednesday

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and Thursday. And it was largely due to the idea

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that the new Act, the Big Beautiful Bill, they're gonna

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cut subsidies, but really only cut subsidies for the Chinese

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made solar companies, and so it allowed for Solar to

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sidestep that pain that really hurt every other solar company

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because it seems like every other solar company has some

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type of big exposure to China. So that was a

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big deal for First Solder and they caught a really

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nice bid off of that.

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Well, if you feel your competition is going to go

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going to be having trouble, that's a good thing.

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Yeah.

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Not only do you get sidestep the tariffs, but your

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competition are going to have harder pricing power to begin

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with that as well.

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We joke about it all the time, but these poor

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solar analysts, they just keep push pulling. You know, we're

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gonna do the solar credits. We're not. Just let them

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go home, guys.

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Yeah, being an analyst for a solar stocks got to

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be tough.

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Holy moly, it's every other day that they're flipping these things.

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It's amazing, especially in this environment with this administration. Yeah,

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but you know, it's a holiday weekend and if you're

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listening on the radio, you're getting a lot of replays.

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You're getting a lot of reruns, a lot of stuff

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is you know, people want to go out and enjoy

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the holiday and this first hour is live, but the

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second hour, Town, we're gonna we're gonna go the same

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route as everybody else.

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And yeah, we're gonna see you some general financial planning.

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I mean, we do our TV shows every single Sunday

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before Meet the Press, and after the Sunday ten o'clock news,

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and so you can always watch those on NBC, KVOA

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and your local usually it's Channel four, but you can

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also listen to those on a recorded We just take

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the audio and put on our Saturday shows normally, but

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we're gonna take those and put that in our half

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hour two of our half hour shows in the in

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the second hour of this show, and it has more

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general information around financial planning. So it's not gonna be

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specific to what happened this week, but it is gonna

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be specific to financial planning.

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It's gonna be helpful in other words. Yes, the UH

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for the week three and a half day week and

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the Dow was the leader as people look for what

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hasn't moved yet. This is typical of late stage rallies

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UH is the Dow starts to get a bid. You'll

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notice that the RSP, the equal weighted S and P

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five hundred was up two point four percent UH versus

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the S and P up one point seven And that's

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simply a broadening out of the rally. People again looking

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for things that haven't moved.

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And big one of that Russell two thousand. Once the

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small caps start moving. That's that's a big deal.

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Yeah, And that's that's again, that's one of the one

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of the few industry. Russell after a three point six

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percent gain last week this week was up one percent

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for the year, s and P five hundred up six

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point eight percent for the year, leading the way, NAVDAC

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up six point seven percent.

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Russell two thousands, still ten percent off off its size.

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And that's really the idea that if you have this

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fed cutting rates and the few, that's gonna help. Really

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the small caps stucks more than the large cap because

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you have a lot of priced and growth already in

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the large cap. You know, cutting rates probably isn't going

237
00:11:03.919 --> 00:11:08.399
to send them into new crazy territories. But for the

238
00:11:08.440 --> 00:11:11.320
small caps still being ten percent off the all time highs,

239
00:11:11.480 --> 00:11:12.679
they have plenty of room to go.

240
00:11:13.320 --> 00:11:17.840
The market valuation, with another one point seven percent on

241
00:11:17.879 --> 00:11:25.840
the SMP, market valuation is excessive. We are the SMP oscillator,

242
00:11:25.840 --> 00:11:31.720
which is a technical tool, is rather dramatically overbought. I

243
00:11:31.799 --> 00:11:35.159
would think that next week we probably start the week

244
00:11:35.240 --> 00:11:39.720
with a pullback. I'm not concerned. In this environment. It's

245
00:11:39.840 --> 00:11:45.360
hard to envision something significant to the downside because there

246
00:11:45.399 --> 00:11:47.559
are so many people that want to be in. There's

247
00:11:47.559 --> 00:11:51.399
so much enthusiasm, there's so much confidence that Trump's going

248
00:11:51.399 --> 00:11:53.600
to get it right that I think a lot of

249
00:11:53.600 --> 00:11:58.039
people don't aren't simply not interested in selling. And I

250
00:11:58.039 --> 00:12:02.000
think Sebastian, you said we're talking on Thursday, and you said,

251
00:12:02.000 --> 00:12:04.080
I can't I can't even imagine what it.

252
00:12:03.879 --> 00:12:08.120
Is Wednesday Wednesday, No, no, no, you're right, yeah.

253
00:12:07.759 --> 00:12:10.840
Yeah, I can't even imagine what would bring this market down.

254
00:12:10.879 --> 00:12:14.639
And from my years of experience, you won't know until

255
00:12:14.679 --> 00:12:16.879
after it happened. It's going to be something weird.

256
00:12:17.039 --> 00:12:18.759
And that's the same thing that we were saying headed

257
00:12:18.759 --> 00:12:23.440
into that weekends that we ended up shooting missiles that

258
00:12:23.480 --> 00:12:25.639
I ran, you know, and then that was the black

259
00:12:25.639 --> 00:12:28.720
swan in our heads. But ultimately and Monday opened up

260
00:12:29.720 --> 00:12:31.399
down and we ended up going green that.

261
00:12:31.399 --> 00:12:33.120
Day to be one of the big risks. We're going

262
00:12:33.120 --> 00:12:35.879
to be the big beautiful bill and getting that past

263
00:12:36.320 --> 00:12:38.159
the House. We know it got pasted, the Senate goes

264
00:12:38.159 --> 00:12:40.879
back to the House, and then Thursday night there was

265
00:12:41.159 --> 00:12:44.039
just some rumors that it didn't It got tied on

266
00:12:44.080 --> 00:12:45.200
a procedural vote.

267
00:12:45.039 --> 00:12:47.879
With Wednesday Night got Wednesday Night future on the day

268
00:12:49.000 --> 00:12:49.320
me too.

269
00:12:49.399 --> 00:12:53.120
Procedurally they weren't able to pass it through debates and

270
00:12:53.159 --> 00:12:55.519
things like that. So it's not that the it hasn't

271
00:12:55.559 --> 00:12:58.039
passed completely, but there are some holdouts. There's one more

272
00:12:58.480 --> 00:13:01.200
nay that kind of throw a wrench into the whole plan.

273
00:13:01.360 --> 00:13:04.039
So will it get passed by July fourth? That doesn't

274
00:13:04.080 --> 00:13:05.679
necessarily look like it's gonna happen.

275
00:13:05.720 --> 00:13:08.960
I just wish that wasn't a south and post deadline.

276
00:13:08.960 --> 00:13:11.360
There's nothing special about July fourth and what is just

277
00:13:11.440 --> 00:13:14.559
forcing people to make decisions that may not be in

278
00:13:14.559 --> 00:13:18.240
our best interest. But as we sit here on on Thursday,

279
00:13:18.559 --> 00:13:21.679
before the fourth of July weekend, it does look to

280
00:13:21.759 --> 00:13:24.360
me like they've they've gotten the.

281
00:13:25.320 --> 00:13:27.960
Yeah, but why not impose a strict and faster deadline

282
00:13:27.960 --> 00:13:30.120
because you know what they're gonna do, Like they're going

283
00:13:30.159 --> 00:13:31.000
to extend it either.

284
00:13:30.879 --> 00:13:31.840
Wall and reach the bill.

285
00:13:32.159 --> 00:13:34.600
I think, I think, I think probably when this is

286
00:13:34.639 --> 00:13:37.519
being recorded on Sunday morning, the big beautiful bill will fast.

287
00:13:38.080 --> 00:13:38.720
That's my guess.

288
00:13:38.799 --> 00:13:40.759
Yeah, I mean, based on what I'm saying, I don't

289
00:13:40.919 --> 00:13:44.759
think that will happen, but it may. But I think

290
00:13:44.799 --> 00:13:46.840
the whole point of me bringing this up is if

291
00:13:46.840 --> 00:13:50.159
it had any potential of it not passing, and the

292
00:13:50.200 --> 00:13:52.480
market then reacts the next day of it going up

293
00:13:52.679 --> 00:13:55.399
one percent. I don't think the market necessarily cares either.

294
00:13:55.720 --> 00:13:58.120
I think the market would care if it were killed.

295
00:13:58.240 --> 00:13:59.759
If it was killed as one thing, but I don't

296
00:14:00.000 --> 00:14:02.440
didn't give it a shelves meaning it it's going to

297
00:14:02.480 --> 00:14:03.480
pass in a month or two.

298
00:14:03.480 --> 00:14:04.919
I don't think it's going to as long as you

299
00:14:05.000 --> 00:14:07.159
as long as there's some imminute it could. It would

300
00:14:07.200 --> 00:14:09.519
be the largest tax in creation history, which of course

301
00:14:09.519 --> 00:14:11.559
would not be real good for the economy, right, And

302
00:14:11.600 --> 00:14:13.960
I understand how that runs up the deficit. And you

303
00:14:14.000 --> 00:14:18.039
can certainly make a case, well, you know, don't extend

304
00:14:18.080 --> 00:14:21.720
the tax cuts, give the government more money to help

305
00:14:21.759 --> 00:14:23.399
pay their bills. But then we all know what the

306
00:14:23.440 --> 00:14:26.559
government does with money. They squander it. So none of

307
00:14:26.639 --> 00:14:28.840
us are really that interested in giving more money to

308
00:14:28.879 --> 00:14:31.000
the government because we know what they've done with what

309
00:14:31.120 --> 00:14:32.039
we gave them.

310
00:14:32.519 --> 00:14:34.399
Yeah, and there's a lot of things that you know

311
00:14:34.559 --> 00:14:38.120
past that the Senate in that.

312
00:14:38.080 --> 00:14:39.399
Big beautiful a lot of changes.

313
00:14:40.399 --> 00:14:43.000
Ten thousand dollars you can deduct if you if you

314
00:14:43.080 --> 00:14:48.039
had a car loan from January first of twenty twenty

315
00:14:48.080 --> 00:14:51.000
five through twenty eight. I got my car loan on

316
00:14:51.039 --> 00:14:51.960
December twenty sixth.

317
00:14:52.000 --> 00:14:55.879
It's twenty twenty four, So you made it by day

318
00:14:56.360 --> 00:14:56.799
you missed it.

319
00:14:56.879 --> 00:14:58.960
I missed it by five days. Five days, Okay, it's

320
00:14:59.000 --> 00:15:01.080
like those MAGA accounts. Could you imagine being born on

321
00:15:01.120 --> 00:15:04.679
December thirtieth, twenty twenty four and your kid doesn't get it.

322
00:15:05.480 --> 00:15:08.879
That's very, very insight to incentivizing for that industry.

323
00:15:08.720 --> 00:15:10.879
The cave they did cave on the salt tax.

324
00:15:11.159 --> 00:15:14.679
They got the salt and they have sex six thousand dollars.

325
00:15:14.919 --> 00:15:17.519
Maybe I got up to ten thousand for the solid security,

326
00:15:17.960 --> 00:15:18.320
but for.

327
00:15:18.399 --> 00:15:25.080
Seeing it's actually a increased personal exemption for older people

328
00:15:25.399 --> 00:15:26.360
of a certain income.

329
00:15:26.559 --> 00:15:29.240
Right right, Wait, going back to the deduction on the

330
00:15:29.279 --> 00:15:29.919
car interest.

331
00:15:31.320 --> 00:15:34.919
How much five thousand is ten thousand a year?

332
00:15:34.919 --> 00:15:37.200
How many people were paying ten thousand dollars in car

333
00:15:37.240 --> 00:15:39.799
interest loans on a yearly basis?

334
00:15:40.360 --> 00:15:42.399
I don't even I don't even know you, but the

335
00:15:42.480 --> 00:15:43.799
cars are so darn expansive.

336
00:15:43.960 --> 00:15:45.799
I mean, I know, but I can't imagine that.

337
00:15:45.840 --> 00:15:47.840
I thought this was interesting though. I wanted to give

338
00:15:47.919 --> 00:15:50.879
like a simple example of a married couple both sixty

339
00:15:50.879 --> 00:15:54.679
five plus filing jointly making around forty five k sold security,

340
00:15:54.960 --> 00:15:58.000
forty thousand in IRA distributions, and a twenty thousand dollars pension,

341
00:15:58.120 --> 00:16:01.600
So one hundred and five thousand dollars total income. If

342
00:16:01.639 --> 00:16:03.600
you did all that with the New Act. If they

343
00:16:03.639 --> 00:16:06.399
passed the New Act, they're essentially going to save around

344
00:16:06.639 --> 00:16:10.519
one in taxes that they would have had to pay.

345
00:16:11.320 --> 00:16:13.399
I just I think it's so that gives an idea

346
00:16:13.519 --> 00:16:16.360
for people like what There's a lot of minutia in

347
00:16:16.360 --> 00:16:18.039
those things. It's like, what does it actually mean for

348
00:16:18.159 --> 00:16:19.600
me at the end of the day. That's what it came.

349
00:16:19.840 --> 00:16:21.279
We were talking earlier in the week about how the

350
00:16:21.320 --> 00:16:24.080
optics on this are just not really good, very good, right,

351
00:16:24.440 --> 00:16:27.200
I mean, you're taking money from four people and giving

352
00:16:27.240 --> 00:16:29.279
it touch people at the end of the day.

353
00:16:30.519 --> 00:16:32.519
Well, that's what the Yale University study says.

354
00:16:32.759 --> 00:16:35.039
I know I've seen that in other studies as well,

355
00:16:35.080 --> 00:16:37.919
and you can make that case. And but the other

356
00:16:37.960 --> 00:16:41.519
option is is do not extend the tax cut, which

357
00:16:41.559 --> 00:16:43.679
is the primary thing Trump wanted to get out of

358
00:16:43.759 --> 00:16:46.240
this is having his tax cuts become permanent.

359
00:16:46.000 --> 00:16:49.039
But also over time and tip income ex solusion for

360
00:16:49.159 --> 00:16:53.519
up the twelve five hundred per person and reports though, Yeah,

361
00:16:53.519 --> 00:16:55.000
but over time is always reported.

362
00:16:55.080 --> 00:16:58.799
Yeah, the reportedive tips just kind of kind of a joke.

363
00:16:58.639 --> 00:17:01.480
Right, the tip one is And again there are plenty

364
00:17:01.480 --> 00:17:04.519
of food and beverage that get their tips reported on electronically.

365
00:17:04.559 --> 00:17:07.240
Yes, we had a big birthday last week, if you

366
00:17:07.240 --> 00:17:11.160
guys were celebrating or not to have eighteenth birthday for

367
00:17:11.279 --> 00:17:15.000
the iPhone, Oh eighteen years ago. He stood up in

368
00:17:15.000 --> 00:17:17.319
front of us and told us what this thing was

369
00:17:17.359 --> 00:17:19.720
going to do. And I sat there and Washington said,

370
00:17:19.759 --> 00:17:23.279
are you crazy? It's a phone, You make calls, you

371
00:17:23.359 --> 00:17:26.000
receive calls. What are you talking about? So, I mean

372
00:17:26.000 --> 00:17:28.519
that's how far Steve Jobs was ahead of the rest of.

373
00:17:28.559 --> 00:17:31.759
Us on that can just place trades off.

374
00:17:31.759 --> 00:17:34.160
And now you think AI goggles are stupid. I'm never

375
00:17:34.200 --> 00:17:34.640
going to have.

376
00:17:34.960 --> 00:17:36.880
That good point. I have a good point why. And

377
00:17:37.000 --> 00:17:39.440
it really wasn't me saying they're stupid, although I think

378
00:17:39.440 --> 00:17:39.759
they are.

379
00:17:40.079 --> 00:17:42.079
All those people of our generation.

380
00:17:41.759 --> 00:17:44.720
There was young people, five of six young people that

381
00:17:44.759 --> 00:17:47.480
I that I did a survey my time, my own

382
00:17:47.559 --> 00:17:50.559
informal survey said young people don't want this. Well, if

383
00:17:50.599 --> 00:17:52.519
young people don't want this, I know old people don't

384
00:17:52.519 --> 00:17:55.759
want this or don't need this. I'm not saying don't

385
00:17:55.799 --> 00:17:57.920
want it, but I don't want anything to do with

386
00:17:57.920 --> 00:17:59.319
the Internet on my glasses.

387
00:18:01.240 --> 00:18:02.960
I think it would be so cool to have it,

388
00:18:03.039 --> 00:18:06.640
you know, interactive with our monitors and stuff here at work, Like, yeah,

389
00:18:06.759 --> 00:18:07.839
it would be super neat.

390
00:18:07.880 --> 00:18:09.559
I was talking about how I'm going to Berlin in

391
00:18:09.640 --> 00:18:11.160
September and I might need to get a pair of

392
00:18:11.200 --> 00:18:14.440
those glasses so I can read German, know what it's

393
00:18:14.440 --> 00:18:17.400
saying in English and all that. Going to a German

394
00:18:17.480 --> 00:18:19.920
restaurant and just look at the menu and it just reads.

395
00:18:19.720 --> 00:18:23.119
It translate, translates a back, yeah, turn app to that.

396
00:18:23.759 --> 00:18:26.640
Well yeah, but what about just having it on my face.

397
00:18:26.680 --> 00:18:29.960
I don't have to hit a button to say translated already,

398
00:18:29.960 --> 00:18:31.359
it's already translating real time.

399
00:18:32.000 --> 00:18:35.640
For this clearly will not lead to more eye problems.

400
00:18:35.720 --> 00:18:39.960
I can see that, like headphones leading to more ear problems.

401
00:18:40.039 --> 00:18:43.680
Absolutely much about it and being in a rock band

402
00:18:43.680 --> 00:18:44.920
when you're a teenage.

403
00:18:44.519 --> 00:18:46.440
Well, I mean just the simple three years that I've

404
00:18:46.440 --> 00:18:49.240
been working here, two and a half. It's my eyes

405
00:18:49.279 --> 00:18:52.240
have degraded looking at these monitors. You know that everything's

406
00:18:52.279 --> 00:18:52.839
gonna it's not.

407
00:18:53.720 --> 00:18:55.440
Yeah, and so you want to add to that by

408
00:18:55.440 --> 00:18:58.960
putting it on, why not take it when you go right?

409
00:19:00.319 --> 00:19:02.839
At least it's the sea through technology, you're still mostly

410
00:19:02.880 --> 00:19:04.160
seeing just your world.

411
00:19:04.960 --> 00:19:07.599
We need we need a we need a little bit

412
00:19:07.640 --> 00:19:10.559
of a pullback in the market. Trees don't grow to

413
00:19:10.640 --> 00:19:15.079
the sky. These parabolic moves tend not to be sustainable.

414
00:19:16.000 --> 00:19:18.920
And generally the higher you go on a parabolic move

415
00:19:19.000 --> 00:19:21.000
like this, the further you're going to drop. So be

416
00:19:21.119 --> 00:19:23.079
nice to see a little, you know, three to five

417
00:19:23.119 --> 00:19:26.720
percent pull back, get a little bit more firmer base

418
00:19:26.839 --> 00:19:30.400
under us to where we could get a little bit

419
00:19:30.440 --> 00:19:33.960
of this enthusiasm out of the market. Get right now.

420
00:19:34.000 --> 00:19:37.400
It's just the bullish sentiment is so strong, the Vicks

421
00:19:37.440 --> 00:19:41.279
is so low. I mean, everybody is just knows that

422
00:19:41.319 --> 00:19:43.400
the market's going to go up every day. It's just

423
00:19:43.440 --> 00:19:46.119
a question of how much. And those are environments where

424
00:19:46.119 --> 00:19:49.359
you really need to be careful. And I said last

425
00:19:49.359 --> 00:19:51.119
week this is not a time to be all in.

426
00:19:51.480 --> 00:19:53.799
And you know, well we went up to another two percent.

427
00:19:54.160 --> 00:19:57.519
I get that it's going to come back down now.

428
00:19:57.559 --> 00:19:59.680
I'm not suggesting that there's going to be a big

429
00:19:59.720 --> 00:20:02.759
correct because I don't think in this environment with the

430
00:20:02.799 --> 00:20:06.279
good things coming that we see coming and happening. And

431
00:20:06.880 --> 00:20:10.880
I'm a not a Trump fan, but I'm a Trump support.

432
00:20:11.680 --> 00:20:13.519
Big correction, you mean how much like ten?

433
00:20:14.160 --> 00:20:16.839
Yeah, you can get a five percent pull back at

434
00:20:16.839 --> 00:20:21.799
any time. Would a ten percent pull back It's it

435
00:20:21.799 --> 00:20:23.440
would have to be some kind of a Black Swan

436
00:20:23.519 --> 00:20:29.359
event for the pullback to become more severe. The complacency

437
00:20:29.480 --> 00:20:32.799
is what's troubling me. The complacency is what's bothering me.

438
00:20:33.480 --> 00:20:34.720
Just anything working right.

439
00:20:34.640 --> 00:20:38.519
Now is everything's working, and the dolls coming on, and

440
00:20:38.559 --> 00:20:41.880
the RSP is coming on, and eighty year old people

441
00:20:41.880 --> 00:20:44.920
are wanting to be more aggressive, and it's just it's

442
00:20:44.960 --> 00:20:48.599
a kind of an environment where you have to be careful.

443
00:20:48.720 --> 00:20:51.039
And I think the last earning season, we had an

444
00:20:51.160 --> 00:20:54.039
ordeal where people were really worried about tariffs and how

445
00:20:54.279 --> 00:20:57.319
company profits and growth we're going to look going into

446
00:20:57.359 --> 00:21:00.799
the future. And then companies reported and they largely beat

447
00:21:01.000 --> 00:21:04.880
estimate estimates because estimates were just pricing in so much

448
00:21:04.880 --> 00:21:06.960
of a further drop than what really was going to occur.

449
00:21:07.319 --> 00:21:10.440
So you got those expectations beat help build some momentum.

450
00:21:10.480 --> 00:21:12.119
But in this next earnings, you're going to have the

451
00:21:12.240 --> 00:21:15.000
opposite of you have very high valuations. So now the

452
00:21:15.000 --> 00:21:17.079
earnings have to back up the valuations.

453
00:21:17.160 --> 00:21:18.480
The bar not get a joy.

454
00:21:18.559 --> 00:21:21.000
The bar is right. So now with that higher bar,

455
00:21:22.119 --> 00:21:24.680
they have to show some numbers. And we didn't have

456
00:21:24.720 --> 00:21:28.599
a necessarily super hot quarter, so that could easily bring

457
00:21:28.680 --> 00:21:31.160
us down, you know, five percent, just by earnings not

458
00:21:31.200 --> 00:21:32.160
coming in the way they should.

459
00:21:32.720 --> 00:21:37.000
The banks announced last weekend that all major US banks

460
00:21:37.039 --> 00:21:40.279
passed the annual government stress test that was put in

461
00:21:40.279 --> 00:21:43.440
place during the Great Recession in l eight, sending the

462
00:21:43.480 --> 00:21:46.480
Financial ETF to a new all time high. Many of

463
00:21:46.519 --> 00:21:54.039
the banks received upgrades from various analysts and many several

464
00:21:54.079 --> 00:21:58.519
of them increased their dividend, and the ETF performed very nicely.

465
00:21:58.559 --> 00:22:02.079
And on Thursday, I took one of my bank stocks

466
00:22:02.079 --> 00:22:05.400
out liquidated it. So I think, thank you very much.

467
00:22:06.440 --> 00:22:08.400
That reminds me of the bank sucks. When we look

468
00:22:08.400 --> 00:22:10.839
at bonds, a lot of banks will be rated as

469
00:22:10.920 --> 00:22:14.960
investment grade, but they're not really rated high on investment grade.

470
00:22:14.960 --> 00:22:17.359
They'll be like triple B. And so for those who

471
00:22:17.400 --> 00:22:20.359
don't know, investment grade are anywhere from you can get

472
00:22:20.519 --> 00:22:25.160
a double plus down to I think it's triple B

473
00:22:26.920 --> 00:22:30.480
plus and then triple B minus and below is junk

474
00:22:30.519 --> 00:22:33.400
bond status. But you can get really good names like

475
00:22:33.440 --> 00:22:36.920
Goldman Sachs JP Morgan that are going to pay more

476
00:22:36.960 --> 00:22:40.160
than a treasury that's at an A plus rating versus

477
00:22:40.519 --> 00:22:43.960
of corporate that's at a triple B plus rating. But if,

478
00:22:44.160 --> 00:22:47.319
for example, they're running stress tests on a company on

479
00:22:47.400 --> 00:22:50.920
a bank saying no, they're good, they have their financial obligations,

480
00:22:51.200 --> 00:22:53.759
you can be pretty sure that a JP Morgan isn't

481
00:22:53.799 --> 00:22:55.000
gonna go out of business.

482
00:22:55.039 --> 00:22:57.839
Right, And I bought a Goldman SAX bonds earlier this week.

483
00:22:58.759 --> 00:23:01.920
The comparisons to the treasure Goldman Sachs was a triple

484
00:23:01.920 --> 00:23:05.000
B rated bond. I think it was fifty sixty basis

485
00:23:05.000 --> 00:23:07.839
point spread, right, I mean what, I'm not really that

486
00:23:07.920 --> 00:23:10.480
worried about JP Morgan going out of business.

487
00:23:11.000 --> 00:23:13.640
Yeah, if you are a bond buyer, that's absolutely very

488
00:23:13.680 --> 00:23:18.960
good information. I was i Chevron double as I was

489
00:23:19.000 --> 00:23:22.920
able to get forty basis points above the treasure on Chevron. Yeah,

490
00:23:23.039 --> 00:23:25.319
and I took it out to twenty twenty nine because

491
00:23:25.319 --> 00:23:27.519
I'd like to have a little bit longer paper and

492
00:23:27.680 --> 00:23:30.160
just in case we do start seeing interest rate drop,

493
00:23:30.519 --> 00:23:33.160
I've got that four point one percent for the next

494
00:23:33.160 --> 00:23:37.160
four years. Lock absolutely so a lot we have bonds

495
00:23:37.400 --> 00:23:41.079
in our bond accounts. We've we've maintained short term because

496
00:23:41.200 --> 00:23:44.079
we're just not clear but really where we're going with

497
00:23:44.160 --> 00:23:46.960
interest rates. So we have one, two, three, four, five.

498
00:23:47.000 --> 00:23:49.039
We do a ladder and we take a period of years.

499
00:23:49.079 --> 00:23:51.039
And the nice thing about a ladder seeve asked, is

500
00:23:51.079 --> 00:23:54.519
that if interest rates start, if you get higher interest rates,

501
00:23:54.640 --> 00:23:57.359
well you've you've you've got some short term paper that's

502
00:23:57.359 --> 00:23:59.680
going to mature and take advantage of that. If you've

503
00:23:59.680 --> 00:24:03.920
got if you've if interest rates start to fall, you've

504
00:24:04.000 --> 00:24:06.400
got longer term bonds that can take advantage of that.

505
00:24:06.519 --> 00:24:08.839
So when you don't know, and then most of the

506
00:24:08.839 --> 00:24:12.079
time most people don't know, a bond ladder gives you

507
00:24:12.160 --> 00:24:15.039
that ability to capitalize on either one of those moves

508
00:24:15.079 --> 00:24:18.240
and kind of head yourself anyway. We'll be back. That's

509
00:24:18.279 --> 00:24:20.119
the end of the first segment. We'll be back right

510
00:24:20.160 --> 00:24:22.799
after this break. Thanks for joining us on this Independence

511
00:24:22.880 --> 00:24:23.440
Day weekend.

512
00:24:25.079 --> 00:24:27.079
Welcome back to the Money Matter Show. My name is

513
00:24:27.079 --> 00:24:30.319
Todd Glick. I'm here with David Sherwood and Sebastian Borsini.

514
00:24:30.599 --> 00:24:34.079
This week, the market went into more price discovery mode

515
00:24:34.119 --> 00:24:36.599
as the S and P five hundred and Nasdaq are

516
00:24:36.680 --> 00:24:39.759
going even higher into record territories, but the doll still

517
00:24:39.759 --> 00:24:42.599
has not reached its new all time high yet it's

518
00:24:42.680 --> 00:24:45.799
lagging behind thirty stock doubt It's why we always talk

519
00:24:45.839 --> 00:24:47.599
about it. One of the stock's in there, though, that

520
00:24:47.680 --> 00:24:50.599
did have a good pop was Nike, even though they've

521
00:24:50.640 --> 00:24:54.200
had some turmoil with the Vietnam trade deal and all that.

522
00:24:54.480 --> 00:24:57.599
And another stock that was in a lot of news

523
00:24:57.640 --> 00:25:01.839
was Tesla. And the Trump or A Deal and Musk

524
00:25:01.960 --> 00:25:04.640
feud that seems to keep bubbling up every time it

525
00:25:04.680 --> 00:25:08.720
seems to simmer out, and this time Trump says we're

526
00:25:08.759 --> 00:25:11.519
gonna look into deporting him. And let's ask some question.

527
00:25:12.599 --> 00:25:14.400
I mean, you get the richest man in the world

528
00:25:14.400 --> 00:25:16.519
and the most powerful men in the world, and and

529
00:25:16.599 --> 00:25:20.279
they're neither one of them are gonna be second to anybody, right,

530
00:25:20.519 --> 00:25:23.319
And they both have these personalities where you shoot first

531
00:25:23.359 --> 00:25:26.680
and ask questions later. So they both stay stupid stuff

532
00:25:27.119 --> 00:25:30.200
and then backtrack on it. And they got they got

533
00:25:30.200 --> 00:25:33.279
to going at it again, and I would argue that's

534
00:25:33.319 --> 00:25:36.480
not good for the country when when Musk and Trump

535
00:25:36.519 --> 00:25:37.680
are threatening each.

536
00:25:37.480 --> 00:25:39.079
Other, and no, it's not great.

537
00:25:39.119 --> 00:25:42.880
You know he's gonna Musk is gonna unseat every Republican

538
00:25:42.960 --> 00:25:45.480
that votes for the bill. Yeah, sure you are. And

539
00:25:45.559 --> 00:25:48.440
Trump's gonna deport Musk if and cut off all of

540
00:25:48.440 --> 00:25:51.960
his subsidio subsidies because then he'd be broken and have

541
00:25:52.000 --> 00:25:53.519
to go back to South Africa anyway.

542
00:25:53.839 --> 00:25:55.880
You know, it's like, really, well, then elone could just

543
00:25:55.920 --> 00:25:58.559
buy the buy the citizenship. Remember you could buy it.

544
00:25:58.680 --> 00:26:03.720
We won't have any money. He's broke. But that that

545
00:26:03.839 --> 00:26:06.880
Tesla thing goes back and forth. I'll tell you Disney's

546
00:26:07.079 --> 00:26:09.240
fifty percent above is fifty two weeks old. And now

547
00:26:09.279 --> 00:26:12.200
this is the stock that we've had in our accounts

548
00:26:12.200 --> 00:26:15.759
for a long time, and it's really been a horrible holding.

549
00:26:16.400 --> 00:26:19.079
This has not performed, has not performed, been at the

550
00:26:19.079 --> 00:26:22.000
bottom of the thirty stock dow for forever.

551
00:26:22.119 --> 00:26:25.119
Where's it now, it's it's right in the middle, right

552
00:26:25.160 --> 00:26:25.559
in the middle.

553
00:26:25.599 --> 00:26:28.960
Still. Yeah, but it's up fifty percent in the last

554
00:26:28.960 --> 00:26:31.920
fifty two weeks. And that's guess what Jefferyes decides to

555
00:26:31.960 --> 00:26:35.119
do there sashion what do they do? You're gonna raise

556
00:26:35.160 --> 00:26:35.559
it to a buy.

557
00:26:35.720 --> 00:26:36.079
Why not.

558
00:26:36.279 --> 00:26:37.839
Yeah, you're gonna raise it to a buy. It's come

559
00:26:37.839 --> 00:26:41.440
fifty percent, let's buy it. Investment firm said Disney's park

560
00:26:41.519 --> 00:26:44.279
bininess is holding up well and that the cruise revenue

561
00:26:44.799 --> 00:26:47.279
could jump in twenty twenty six when they start two

562
00:26:47.319 --> 00:26:47.839
new ships.

563
00:26:47.839 --> 00:26:49.799
So you have a new park coping up in Dubai

564
00:26:49.960 --> 00:26:50.559
forty sure.

565
00:26:50.880 --> 00:26:54.119
Yeah, it's a It's one of those stocks that has

566
00:26:54.160 --> 00:26:57.400
so many moving parts that if all of the moving

567
00:26:57.480 --> 00:27:01.440
parts come together, that would be the theme parks streaming

568
00:27:02.440 --> 00:27:05.480
the ships. Right, if all of that were to come

569
00:27:05.519 --> 00:27:08.880
together at once, You've You've got a very strong company

570
00:27:09.119 --> 00:27:12.319
whose docks should be higher than it is today. But

571
00:27:12.319 --> 00:27:14.640
it's come up fifty percent. So obviously some people are

572
00:27:14.680 --> 00:27:17.799
seeing that seeing that on the horizon. I noticed too

573
00:27:17.839 --> 00:27:19.720
this that this is kind of the thing we wanted

574
00:27:19.759 --> 00:27:23.640
to see when Trump was elected. Todd Hellett Packard and

575
00:27:23.720 --> 00:27:26.480
Jennifer Networks. They both rallied on Monday after the US

576
00:27:26.559 --> 00:27:30.880
Department of Justice settled his lawsuit challenging the takeover hell

577
00:27:30.920 --> 00:27:33.960
At Packer's takeover of Jennifers. You know, that's what we

578
00:27:34.119 --> 00:27:35.599
that's kind of what we want to see. We want

579
00:27:35.599 --> 00:27:41.079
to see less regulation, combinations that make sense being allowed

580
00:27:41.119 --> 00:27:45.279
to go forward. And I think that's a lot of

581
00:27:45.279 --> 00:27:48.759
why the enthusiasm in the market. You where, Netflix hit

582
00:27:48.799 --> 00:27:52.440
a new all time high on Monday after NASA announced

583
00:27:52.480 --> 00:27:55.920
live programming on Netflix. NASA is going to do live

584
00:27:55.960 --> 00:28:00.799
programming on Netflix. They're going to include rocket launches, spacewalks,

585
00:28:00.839 --> 00:28:03.200
and views of the Earth from space, Like we haven't

586
00:28:03.200 --> 00:28:03.839
seen that before.

587
00:28:03.960 --> 00:28:05.400
I didn't know that we could do that, or that

588
00:28:05.440 --> 00:28:07.119
they're still doing that live streaming.

589
00:28:07.359 --> 00:28:09.160
NASA live streaming on Netflix.

590
00:28:09.279 --> 00:28:10.680
Thought SpaceX took over that.

591
00:28:11.400 --> 00:28:12.200
I was no.

592
00:28:12.279 --> 00:28:15.000
I used SpaceX rockets to send their stuff up. They

593
00:28:15.039 --> 00:28:16.240
still have a program.

594
00:28:16.680 --> 00:28:21.160
I was a Wednesday anders I was looking for again,

595
00:28:21.240 --> 00:28:23.720
this is the time of the year where where it's

596
00:28:23.839 --> 00:28:26.759
kind of a dark hole for sports. Now if you're

597
00:28:26.759 --> 00:28:30.400
a big fan of baseball or soccer or the w

598
00:28:30.680 --> 00:28:33.240
n B A I apologize for that, but it's pretty

599
00:28:33.319 --> 00:28:35.880
much of a black hole where the NBA season has

600
00:28:35.960 --> 00:28:38.759
ended and we're waiting for football season to start, and

601
00:28:38.839 --> 00:28:41.319
I'm sitting there and my wife was at some function

602
00:28:41.440 --> 00:28:43.880
or whether I know what's what's on. I look, you're

603
00:28:43.920 --> 00:28:46.559
thinking there's a w NBA game on right so I go, Okay,

604
00:28:46.680 --> 00:28:49.359
w NBA takes me to Amazon. It was on Amazon.

605
00:28:49.920 --> 00:28:52.319
I couldn't find it looking all over the place for

606
00:28:52.359 --> 00:28:55.119
the w NBA game. And I'm thinking, really, you know.

607
00:28:55.640 --> 00:28:57.359
And then my wife came in the in the living

608
00:28:57.400 --> 00:29:01.000
room the other night. She goes, you're watching bowling. I said, no, no,

609
00:29:01.039 --> 00:29:04.680
it's worse than that. It's women's bowling. I was watching

610
00:29:04.680 --> 00:29:07.640
women's bowllying. Wow. Yeah, that's that's.

611
00:29:07.720 --> 00:29:09.720
Going to find a showy you know.

612
00:29:10.759 --> 00:29:14.759
Wait, this was when Wednesday night, Come on, Clinton kershell

613
00:29:14.880 --> 00:29:17.079
Is pitching. He was making his debut. Who was Clayton

614
00:29:17.119 --> 00:29:17.920
kershel Is back?

615
00:29:18.039 --> 00:29:18.200
Right?

616
00:29:18.359 --> 00:29:20.519
His debut? Is wasn't his debut? Is the night where

617
00:29:20.519 --> 00:29:23.720
he hit three thousand strikeouts? That's all the base twentieth

618
00:29:23.799 --> 00:29:26.400
baseball player of all time to do three thousand strikeouts.

619
00:29:26.440 --> 00:29:28.559
Shout out to clay Cursha, I got, I got.

620
00:29:28.640 --> 00:29:31.559
I'm just not a baseball fan. I just a couple

621
00:29:31.559 --> 00:29:33.880
of a couple of reasons. Number one is just quite boring,

622
00:29:34.480 --> 00:29:37.319
and number two, my wife's ex husband was a professional

623
00:29:37.319 --> 00:29:37.920
baseball player.

624
00:29:37.920 --> 00:29:41.240
So baseball baseball doesn't get interesting till September.

625
00:29:41.240 --> 00:29:42.000
Anyway, there's not.

626
00:29:41.920 --> 00:29:43.920
Going to be Have you watched the game with a

627
00:29:43.960 --> 00:29:44.480
new timer.

628
00:29:45.640 --> 00:29:47.519
I don't even know what that is, with a new timer.

629
00:29:48.000 --> 00:29:50.559
That yeah, the pitches, right, you have like twenty seconds

630
00:29:50.559 --> 00:29:51.839
between these pitch second.

631
00:29:51.599 --> 00:29:53.400
No, but I think that makes sense. That's something they

632
00:29:53.440 --> 00:29:54.960
need to do, something to speed up the game.

633
00:29:55.039 --> 00:29:56.599
Yeah, no, I was going to say it did just that.

634
00:29:56.680 --> 00:29:58.680
I think it's done good for the game.

635
00:29:58.799 --> 00:30:01.119
Well, we switched back over to modities that we saw

636
00:30:01.160 --> 00:30:05.160
with oil. Oil you know, actually got a little bit

637
00:30:05.160 --> 00:30:08.480
of a bid. This week was a little interesting off

638
00:30:08.480 --> 00:30:10.480
the back half of the week because it sold off

639
00:30:10.799 --> 00:30:14.119
significantly the previous week, so finally got a little bit

640
00:30:14.160 --> 00:30:17.000
and then gold got a little bit as well. But

641
00:30:17.039 --> 00:30:19.359
I think Bitcoin took took the lead back up to

642
00:30:19.400 --> 00:30:22.440
one hundred and ten thousand right there, near all time

643
00:30:22.519 --> 00:30:26.039
highs was down down to like one oh three, but

644
00:30:26.359 --> 00:30:27.839
Bump bumped right back up.

645
00:30:28.279 --> 00:30:30.240
Yeah, it was only up two percent on the week

646
00:30:30.279 --> 00:30:33.319
from Friday to Friday, So from Friday to Thursday, I guess.

647
00:30:33.359 --> 00:30:35.759
So I can't even really give the weekly right because

648
00:30:35.799 --> 00:30:38.640
the trades twenty four sevens so the actual weekly and

649
00:30:38.720 --> 00:30:40.200
that'll be in twenty four hours.

650
00:30:39.920 --> 00:30:43.119
From now, right, big move for that ass of them.

651
00:30:43.119 --> 00:30:45.680
I mean, I'm pretty sure moved for like you said,

652
00:30:45.720 --> 00:30:47.440
it was around one hundred k like a week ago.

653
00:30:47.480 --> 00:30:49.079
It seems like, well, it happened very quickly. It's like

654
00:30:49.119 --> 00:30:53.359
six or seven thousand dollars on Wednesday and Thursday total, right, Yeah, yeah,

655
00:30:53.359 --> 00:30:56.160
I mean explosive move. Looks like it wants to bust

656
00:30:56.200 --> 00:30:56.759
out and run.

657
00:30:56.880 --> 00:31:01.799
Another interesting development the crypto this circle that Stable, Issuer

658
00:31:02.279 --> 00:31:05.200
and Ripple have both applied for a national bank charter.

659
00:31:05.799 --> 00:31:07.960
That's gonna be interesting because if they did that, if

660
00:31:08.000 --> 00:31:10.160
they yeah, I don't know if they can see that

661
00:31:10.279 --> 00:31:13.240
or not, would be the first national digital currency bank,

662
00:31:13.359 --> 00:31:16.079
is what they're calling it, all right, And uh, I

663
00:31:16.119 --> 00:31:19.480
don't think so. I I just I don't know, know.

664
00:31:19.720 --> 00:31:22.200
I do those Dow reports of smart enough for that,

665
00:31:22.240 --> 00:31:24.920
I do those Dow reports or for some month task

666
00:31:25.400 --> 00:31:29.319
every month, what's the top performer in the doll you're

667
00:31:29.359 --> 00:31:32.200
to date? I think you guys have already seen their korem. No,

668
00:31:32.319 --> 00:31:33.640
you just got IBM.

669
00:31:33.480 --> 00:31:35.920
Oh that of course, IBM Yeah, ibm PP performer in

670
00:31:35.960 --> 00:31:38.559
the Dow.

671
00:31:37.480 --> 00:31:39.599
Thirty two percent year to date. It's toward the bottom.

672
00:31:39.640 --> 00:31:42.039
You still have United Healthcare down there, down thirty six

673
00:31:42.079 --> 00:31:44.160
percent on the year, but it had a good June.

674
00:31:44.240 --> 00:31:47.240
It went up seven percent. Nike, we were talking about

675
00:31:47.279 --> 00:31:49.240
that a little bit earlier. They were down about twenty

676
00:31:49.279 --> 00:31:52.680
five percent for the year headed into June. They're now

677
00:31:53.039 --> 00:31:54.359
down only three percent for the year.

678
00:31:54.920 --> 00:31:57.240
And those were guys that were getting to bid last week.

679
00:31:57.400 --> 00:31:59.759
Ye As you start to look for things that hadn't

680
00:31:59.759 --> 00:32:04.200
moved Nike, United Healthcare, wor shortly Apple.

681
00:32:04.039 --> 00:32:05.680
I remember a time that in videos at the very

682
00:32:05.680 --> 00:32:08.599
bottom of that list, and now they're believe the tenth

683
00:32:08.680 --> 00:32:10.519
best stuck fourteen and a half percent.

684
00:32:10.559 --> 00:32:12.960
For that, your ideas had a really strong.

685
00:32:12.680 --> 00:32:14.359
Co explosive move from one hundred.

686
00:32:14.480 --> 00:32:16.440
You know, if you look at the S and P sectors,

687
00:32:17.200 --> 00:32:20.039
what would you guess is the top performing sector this year?

688
00:32:20.960 --> 00:32:22.759
Not the one that's the top performer?

689
00:32:23.680 --> 00:32:30.720
Yeah, I mean with any technology? Yeah right, Industrials, Yeah, industrials,

690
00:32:30.960 --> 00:32:33.480
they've been a top performer each month, haven't they? And

691
00:32:33.599 --> 00:32:35.759
I don't understand that how that's possible.

692
00:32:36.519 --> 00:32:41.079
Communications number two, that it's basically technology, and then financials

693
00:32:41.160 --> 00:32:45.880
number three. Then technology. Financials had a really good June,

694
00:32:46.000 --> 00:32:48.039
but also just really been staying in there. I've been

695
00:32:48.039 --> 00:32:50.200
watching that Regional bank ETF for a while. The KR

696
00:32:50.359 --> 00:32:53.279
they got a big pop off that woken up well,

697
00:32:53.400 --> 00:32:58.640
it woke up off the the bake stress test, which

698
00:32:58.680 --> 00:33:01.480
is funny because none of the region banks go through it. No, no,

699
00:33:01.720 --> 00:33:04.200
you know, it's only the national banks. But for whatever reason,

700
00:33:04.240 --> 00:33:05.960
that helped give that space a little pop.

701
00:33:06.200 --> 00:33:09.279
Learn how that benefits a regional bank. That's kind of interesting.

702
00:33:09.559 --> 00:33:13.240
Yeah, toward the bottom, you got consumer discretionary, just because

703
00:33:13.279 --> 00:33:16.519
Tesla's such a top holdling, right, and you can't even

704
00:33:16.519 --> 00:33:17.680
really pay attention to that one.

705
00:33:17.960 --> 00:33:20.640
Yeah, healthcare is down there. Energy has been down obviously

706
00:33:20.640 --> 00:33:23.799
because of oil in. Real estate is down there as well.

707
00:33:23.880 --> 00:33:27.200
Yeah, consumer discretionary. This is why we always say, you know,

708
00:33:27.279 --> 00:33:29.240
before you hop into an ETF, go take a look

709
00:33:29.240 --> 00:33:31.119
at the holdings and see what they're actually invested in,

710
00:33:31.880 --> 00:33:35.319
because sometimes these are very concentrated in one or two stocks,

711
00:33:35.359 --> 00:33:38.599
just like an index, right, and so xl Y for example,

712
00:33:38.680 --> 00:33:43.880
consumer discretionary sector, it's a spider top two holdings Amazon

713
00:33:43.920 --> 00:33:47.279
at twenty three percent, Tesla at sixteen percent. The next

714
00:33:47.519 --> 00:33:51.039
top holding is home deepoped at six percent. Wow, right,

715
00:33:51.119 --> 00:33:55.880
So Amazon, I mean they've done what this year? They're

716
00:33:55.920 --> 00:33:57.799
they're flat on the year, and Tesla's down on the

717
00:33:57.839 --> 00:34:00.000
ear So that's why you have that sector down that's

718
00:34:00.039 --> 00:34:02.519
spider down. You can't really look at that as a

719
00:34:02.880 --> 00:34:04.839
whole consumer discretionary composite.

720
00:34:05.079 --> 00:34:07.799
Yeah, and you could certainly make the case that those

721
00:34:07.839 --> 00:34:10.199
are two consumer discrastination stocks.

722
00:34:09.960 --> 00:34:10.559
Oh totally.

723
00:34:10.559 --> 00:34:12.679
But they're overweighted, super overweighted.

724
00:34:13.199 --> 00:34:14.960
That's why we talk about the equal weighted S and

725
00:34:15.000 --> 00:34:17.320
P and the regular S and P so much is

726
00:34:17.320 --> 00:34:20.320
because of that S and P five hundred being market

727
00:34:20.360 --> 00:34:23.440
weighted based, it's going to give a larger percentage to

728
00:34:23.480 --> 00:34:26.559
those top seven names that make up roughly thirty three

729
00:34:26.559 --> 00:34:29.280
percent of the entire index in just seven names. But

730
00:34:29.559 --> 00:34:31.800
it's a five hundred index, So if you take the

731
00:34:31.840 --> 00:34:35.400
equal weighted five hundred, you're going to get an equal

732
00:34:35.440 --> 00:34:38.760
share of all five hundred companies, not a larger share

733
00:34:38.760 --> 00:34:40.320
into the just those top seven names.

734
00:34:40.440 --> 00:34:42.320
Right, And then looking to the Dow, I mean, I

735
00:34:42.320 --> 00:34:46.320
would say that you guys could maybe arguement, but I'd

736
00:34:46.360 --> 00:34:48.079
say that that was probably an all time high this

737
00:34:48.159 --> 00:34:50.599
year had it not been for United Healthcare. And that's

738
00:34:50.639 --> 00:34:53.239
absolutely and that's why. Because the Dow is a price

739
00:34:53.280 --> 00:34:56.119
weighted index rather than a market cap weighted index.

740
00:34:55.840 --> 00:34:58.719
Well, only thirty stocks too, and they do a great

741
00:34:58.840 --> 00:35:03.320
job of mimicking the overall market generally. But the problem

742
00:35:03.320 --> 00:35:05.119
with the thirty stock indext you get one LA like

743
00:35:05.280 --> 00:35:08.320
United Healthcare in there, they can really skew things to

744
00:35:08.440 --> 00:35:12.199
the downside big time. Hey, I saw an interesting article

745
00:35:12.239 --> 00:35:16.480
on Moderna excuse me, eighty percent off of its high

746
00:35:16.480 --> 00:35:20.760
but up three percent on Monday after their experimental mRNA

747
00:35:20.880 --> 00:35:24.320
of course, which was the covidchats right. The mRNA flu

748
00:35:24.480 --> 00:35:30.119
vaccine produced a stronger immune response and currently available. Pardon me,

749
00:35:30.559 --> 00:35:34.440
I would like to see a flu vaccine that actually worked,

750
00:35:35.079 --> 00:35:38.800
which would be really nice because I get them every

751
00:35:38.880 --> 00:35:43.280
year because I'm supposed to, and they don't always work. Anyway.

752
00:35:43.320 --> 00:35:46.280
We'll be back with one more segment right after this break.

753
00:35:47.360 --> 00:35:49.119
Welcome back to the Money Matter Show. My name is

754
00:35:49.119 --> 00:35:51.079
Sebastian bor Scene. I'm here with Todd Glick Junior and

755
00:35:51.159 --> 00:35:54.280
David Sherwood. Been talking a lot about the financial sector

756
00:35:54.320 --> 00:35:58.000
this year. XLF. One of the financial stocks that have

757
00:35:58.079 --> 00:36:00.639
been really catching my eye lately is right and that's

758
00:36:00.679 --> 00:36:03.360
up one hundred and fifty two percent this year. They've

759
00:36:03.400 --> 00:36:06.880
had a huge, huge, huge ramp up. I think that

760
00:36:07.000 --> 00:36:09.320
it has a lot to do with probably their cash

761
00:36:09.360 --> 00:36:11.519
flow basis over in that last couple of months, just

762
00:36:11.559 --> 00:36:15.519
because they've had all these I guess incentivizing features around

763
00:36:15.519 --> 00:36:18.599
their broker system. For example, if you were to transfer

764
00:36:18.599 --> 00:36:21.119
a roth Ira any deposit that you make, they'll match

765
00:36:21.119 --> 00:36:24.039
you up to three They'll match you three percent. Right,

766
00:36:24.119 --> 00:36:27.159
that's pretty incentivizing on seven thousand dollars you make three percents.

767
00:36:27.159 --> 00:36:29.000
That's what two hundred and twenty dollars that they're just

768
00:36:29.000 --> 00:36:33.159
giving you for free. Right, that service costs five dollars

769
00:36:33.199 --> 00:36:35.679
a month or fifty dollars a year. So they have

770
00:36:35.800 --> 00:36:39.920
found a way to monetize a reoccurring form of payments

771
00:36:39.960 --> 00:36:44.079
for them. And I can imagine that not every single

772
00:36:44.119 --> 00:36:47.800
consumer or every single investor that is, you know, opting

773
00:36:47.840 --> 00:36:50.519
into this platform is going to actually max out the

774
00:36:50.519 --> 00:36:52.760
wroth and beat robinhood on.

775
00:36:52.880 --> 00:36:56.159
Every single business out there wants a subscription model. Now

776
00:36:56.280 --> 00:36:59.480
you can get a subscription model like that. Look at Amazon,

777
00:37:00.000 --> 00:37:04.079
I mean talk about the behemoth right for subscription modeling

778
00:37:04.760 --> 00:37:07.840
that's as good as it gets. Costco where you know,

779
00:37:07.880 --> 00:37:10.800
whether people buy or buy anything or not, you're gonna

780
00:37:10.800 --> 00:37:11.760
make money doesn't matter.

781
00:37:12.039 --> 00:37:14.079
And another thing that's really good for robin Hood. That

782
00:37:14.159 --> 00:37:17.199
I think is one of the reasons is getting increased

783
00:37:17.199 --> 00:37:20.360
as well. As they issued a open ai token that

784
00:37:20.440 --> 00:37:23.079
was a big one, and this is I believe only

785
00:37:23.159 --> 00:37:27.480
available in Europe, but it's essentially a token that is

786
00:37:27.840 --> 00:37:35.199
gonna track the valuation of open AI's private stock. Open

787
00:37:35.280 --> 00:37:37.239
Eye then came out with the tweets saying we have

788
00:37:37.320 --> 00:37:39.400
no partnership with robin Hood. We did not issue our

789
00:37:39.440 --> 00:37:41.760
equity through robin Hood. This is not you have to

790
00:37:41.800 --> 00:37:44.199
have our approval to get an ownership of our company.

791
00:37:44.239 --> 00:37:45.039
A lot of pushback.

792
00:37:45.199 --> 00:37:48.039
How how robin Hood's doing this. I'm still trying to

793
00:37:48.039 --> 00:37:49.800
figure out. It has something to do with a special

794
00:37:49.800 --> 00:37:53.639
purpose vehicle and similar to how like polymarkets work and

795
00:37:53.679 --> 00:37:57.920
things like that, they are somehow able to get a

796
00:37:57.920 --> 00:37:59.760
little bit some of equity, but I have no idea

797
00:37:59.800 --> 00:38:03.039
how they can get enough to really track everything on that.

798
00:38:03.079 --> 00:38:05.280
So just be careful. Just because you're buying an open

799
00:38:05.320 --> 00:38:08.119
a tokener. They also have a SpaceX token. You can

800
00:38:08.159 --> 00:38:10.079
imagine how many people who want to be in that

801
00:38:10.159 --> 00:38:14.760
industry would buy that. But also know what you're buying

802
00:38:14.760 --> 00:38:18.000
a stock actually has an actual ownership right to the

803
00:38:18.000 --> 00:38:20.239
equity of a company, you get voting rights, you get

804
00:38:20.239 --> 00:38:24.000
dividends if it's producing it. There's an actual contract there.

805
00:38:24.760 --> 00:38:26.519
This other vehicle.

806
00:38:26.440 --> 00:38:29.519
Token, there's virtually maybe no intrinsical.

807
00:38:29.400 --> 00:38:33.360
The transparencies only on how the methodology of the index

808
00:38:33.400 --> 00:38:36.039
that tracks open a ey evaluation. How they do that

809
00:38:36.199 --> 00:38:39.800
is completely up to that criteria. Can that be changed?

810
00:38:40.079 --> 00:38:42.519
Is it set in stone? Is that whatever they have

811
00:38:42.559 --> 00:38:45.199
in criteria makes sense. There's a lot of unknowns of that.

812
00:38:45.280 --> 00:38:48.079
So it's a completely new space. If you hear it,

813
00:38:48.440 --> 00:38:52.000
don't think it's legitimate yet. Make sure there's more regulation

814
00:38:52.159 --> 00:38:55.480
and more understanding into it, because again even open ai

815
00:38:55.639 --> 00:38:57.199
said this is not us.

816
00:38:57.400 --> 00:38:59.920
Yeah, and going back robin Hood, you know, looks like

817
00:39:00.039 --> 00:39:02.639
they've been doing great as a company lately. One hundred

818
00:39:02.639 --> 00:39:04.960
and fifty two percent your date. We're not recommending it

819
00:39:05.000 --> 00:39:07.199
at these levels. And I think one of the biggest

820
00:39:07.639 --> 00:39:10.360
things going forward for Robinhood after you just brought that up,

821
00:39:10.440 --> 00:39:14.480
is lawsuits going litigation going forward, because not only are

822
00:39:14.480 --> 00:39:18.280
they doing stuff like that tokenizing AI shares, opening eye shares,

823
00:39:18.599 --> 00:39:22.280
they also have a polymarket thing on their platforms, so

824
00:39:22.280 --> 00:39:25.599
you could bet on games.

825
00:39:25.679 --> 00:39:28.280
For example, I saw a really funny one that was

826
00:39:28.320 --> 00:39:30.039
like you can bet on his if Jesus is going

827
00:39:30.119 --> 00:39:31.320
to come back in twenty twenty eight.

828
00:39:31.360 --> 00:39:33.079
It's not so ridiculous the type of things that you

829
00:39:33.079 --> 00:39:37.639
could bet on. And so again you give people that

830
00:39:37.719 --> 00:39:41.639
access kind of like, yeah, are going to.

831
00:39:41.639 --> 00:39:45.159
Take in the financial space. That's done even better than

832
00:39:45.280 --> 00:39:49.159
Robin Hood. And he's sitting right across the table from us.

833
00:39:49.760 --> 00:39:50.039
Dave.

834
00:39:50.880 --> 00:39:53.519
Dave is up two and twenty percent.

835
00:39:53.159 --> 00:39:55.800
Year to date. Where could it go? That's not my account,

836
00:39:56.639 --> 00:39:58.239
I probably not your account.

837
00:39:58.440 --> 00:40:02.400
It is on the naz is. It's called Dave Incorporated,

838
00:40:02.400 --> 00:40:04.920
and it's a it's under the major banks. It's just

839
00:40:05.000 --> 00:40:07.320
kind of like a robhad it's a digital bank. You'll

840
00:40:07.360 --> 00:40:10.400
see some commercials here and there on TV for it.

841
00:40:10.440 --> 00:40:14.480
But that stock has just absolutely another four percent on Thursday,

842
00:40:15.480 --> 00:40:16.960
new all time I don't know if it's a new

843
00:40:17.000 --> 00:40:19.199
all time high, but definitely a new fifty two week high.

844
00:40:19.360 --> 00:40:23.400
And uh, they're killing it on earnings and that kind

845
00:40:23.400 --> 00:40:26.480
of stock eight and thirty three percent return over the

846
00:40:26.519 --> 00:40:26.960
last year.

847
00:40:28.320 --> 00:40:30.239
So so the but you make your bring up a

848
00:40:30.239 --> 00:40:32.400
good point. I mean, when you're talking about something like

849
00:40:32.440 --> 00:40:35.519
an AI token, I mean, how do you value that

850
00:40:35.920 --> 00:40:38.000
you don't. And it's like so many things. It's like

851
00:40:38.079 --> 00:40:40.760
so many things that's forth. It's worth what somebody willing

852
00:40:40.800 --> 00:40:44.960
to pay for it, correct, And so I just training dollar,

853
00:40:45.039 --> 00:40:47.159
two dollars, three dollars, you know, is it a cheap

854
00:40:47.599 --> 00:40:50.320
like a penny stock or I don't know either, but

855
00:40:50.440 --> 00:40:53.840
I don't want to be speaking of lawsuits. Lulu Lemon

856
00:40:54.039 --> 00:40:58.760
not only did Lulu benefit from the Vietnam terriff agreement

857
00:40:58.760 --> 00:41:01.719
because that's a big supplier there, but they also sued

858
00:41:01.800 --> 00:41:08.199
Costco selling for their dupes. Yeah, yeah, for selling Lulu

859
00:41:08.280 --> 00:41:09.840
Lemon type clothing.

860
00:41:10.000 --> 00:41:12.639
Doups is short for duplicates.

861
00:41:12.920 --> 00:41:15.159
Yeah, And I don't know how. I mean, that's got

862
00:41:15.199 --> 00:41:16.760
to be a tough proof, isn't it.

863
00:41:17.079 --> 00:41:19.079
Yeah. They had it up on CNBC the other day

864
00:41:19.079 --> 00:41:21.079
and I was looking at that. I was like, that's interesting.

865
00:41:21.079 --> 00:41:22.880
We'll see how that litigation is.

866
00:41:23.000 --> 00:41:25.480
Right, it didn't seem to impact Costco much, but it

867
00:41:25.519 --> 00:41:26.960
really helped Lulu Lemon.

868
00:41:27.079 --> 00:41:30.000
No, and I think that they're suing the wrong company, honestly. Oh,

869
00:41:30.119 --> 00:41:33.360
do you think she was doing fabletics if any? You know,

870
00:41:33.920 --> 00:41:36.559
if they're doing it as a strategic move to try

871
00:41:36.559 --> 00:41:39.400
to take some of the market share back Fabletics. They're

872
00:41:39.440 --> 00:41:40.800
the ones taking their market share.

873
00:41:41.599 --> 00:41:46.679
Okay, yeah, I don't think there's that much special about

874
00:41:46.800 --> 00:41:50.320
some of the Lulu Lemon stuff other than the logo, Right,

875
00:41:50.519 --> 00:41:52.920
don't you buy the Lulu Lemon stuff for the logo?

876
00:41:53.000 --> 00:41:53.639
For mainly?

877
00:41:53.800 --> 00:41:54.880
I'd say so.

878
00:41:54.880 --> 00:41:54.960
So.

879
00:41:55.360 --> 00:41:57.360
I have some work pants that you can't even tell

880
00:41:57.360 --> 00:42:00.000
here LULUs, and they're very comfortable, but I don't know

881
00:42:00.119 --> 00:42:02.079
that they're a hundred dollars comfortable. Yeah, one hundred and

882
00:42:02.079 --> 00:42:03.159
fifty dollars comfortable.

883
00:42:03.519 --> 00:42:05.519
I get it. I get it. And there's been talk

884
00:42:05.559 --> 00:42:08.880
about the competition, the level of competition that Lulu is

885
00:42:08.880 --> 00:42:13.199
facing now they've lost some of their creative talent which

886
00:42:13.320 --> 00:42:15.519
over the last couple of years, which has not helped.

887
00:42:16.400 --> 00:42:18.800
You know. I like to talk about the Cava Mexican

888
00:42:19.000 --> 00:42:23.880
Mediterranean grill. It is the Mediterranean Chipotle, right, fifty two

889
00:42:23.920 --> 00:42:26.880
percent off of it's high the stock. It just when

890
00:42:26.920 --> 00:42:29.800
it came public. It just want higher, higher, higher, higher,

891
00:42:30.159 --> 00:42:32.880
and then puff next thing. You know. It's down fifty

892
00:42:32.920 --> 00:42:35.840
two percent, gain four percent of the open on Wednesday

893
00:42:35.840 --> 00:42:38.320
after Key Bank raised the shares to a buy. Now

894
00:42:38.320 --> 00:42:41.119
I like this, down fifty two percent let's buy it.

895
00:42:41.199 --> 00:42:44.760
I like that as opposed to up fifty percent. Now

896
00:42:44.840 --> 00:42:49.079
let's buy it. They want to. They said that the

897
00:42:49.119 --> 00:42:52.039
company this is kind of a duh. They have no

898
00:42:52.119 --> 00:42:57.239
competition and could become the next Mediterranean Chipotle. Well, yeah,

899
00:42:57.440 --> 00:42:59.639
that's pretty much what they are. If you'll walk in one,

900
00:43:00.039 --> 00:43:02.599
it's exactly what it is as the Mediterranean Chipotle.

901
00:43:02.800 --> 00:43:03.760
I'd love to try one.

902
00:43:04.199 --> 00:43:07.840
Oh yeah, I don't know. I guess probably Phoenix. I

903
00:43:07.880 --> 00:43:11.079
saw one in Orange County, California. That's where I went in.

904
00:43:11.559 --> 00:43:14.480
I didn't order. I talked to a couple of people

905
00:43:14.519 --> 00:43:17.239
in line because I was curious about it. Talked to

906
00:43:17.280 --> 00:43:19.000
a couple of people in line about what it was,

907
00:43:19.440 --> 00:43:21.639
why they were there, what they thought, because that's kind

908
00:43:21.639 --> 00:43:24.320
of what we do right as money manitors. We tried

909
00:43:24.320 --> 00:43:27.599
to find out why people are buying stuff and why

910
00:43:27.639 --> 00:43:28.119
it's working.

911
00:43:28.239 --> 00:43:29.719
I was in GENC the other day and I was

912
00:43:29.719 --> 00:43:35.559
actually asking the clerk about Elani Knew, which is a yes.

913
00:43:35.639 --> 00:43:38.639
It's an energy drink that Celsius spot right. And so

914
00:43:38.679 --> 00:43:41.000
they were talking about how they just fly off the shelves.

915
00:43:41.079 --> 00:43:42.360
They stocked them, They're gone the.

916
00:43:42.320 --> 00:43:44.679
Next day, seriously, and they keeping stock.

917
00:43:44.800 --> 00:43:47.039
They can't keep them stuck, and it's so ridiculous. I

918
00:43:47.079 --> 00:43:50.000
just think it's funny because Elani Knew got popular maybe

919
00:43:50.000 --> 00:43:52.320
about a year ago. Well now it's just getting a

920
00:43:52.320 --> 00:43:55.400
second wave, and the Celsius stock has been performing quite well.

921
00:43:56.119 --> 00:43:59.840
Yeah, and you said the Elani Knew is primarily females, enterest.

922
00:43:59.639 --> 00:44:01.519
I'd say it's more targeted towards women.

923
00:44:03.079 --> 00:44:04.000
Yeah, it's.

924
00:44:05.920 --> 00:44:09.480
More colors, more colorful cans, and they have I think

925
00:44:09.599 --> 00:44:12.280
more I think they don't sell just energy drinks. That's

926
00:44:12.400 --> 00:44:16.639
they sell protein chase and pre workouts and whatever it

927
00:44:16.679 --> 00:44:18.639
is that you want to call it just gym stuff.

928
00:44:18.880 --> 00:44:22.400
It's all more like it's women friendly.

929
00:44:23.199 --> 00:44:28.199
The Afford has been a lange has languished for a

930
00:44:28.239 --> 00:44:31.119
long time. Rose three percent on Tuesday to the highest

931
00:44:31.199 --> 00:44:33.960
level this year, after the company reported sales rose fourteen

932
00:44:34.039 --> 00:44:37.920
percent during the second quarter and ten times the estimated

933
00:44:38.280 --> 00:44:41.599
ten times what the industry increased, So fourteen percent increased.

934
00:44:41.599 --> 00:44:45.360
At Ford, one point four percent increased. Here's the interesting part.

935
00:44:45.400 --> 00:44:49.239
The popular F series truck saw their second best quarter

936
00:44:49.599 --> 00:44:53.760
since twenty nineteen, climbing eleven and a half percent. Sales

937
00:44:53.800 --> 00:44:59.760
of electrified vehicles up six point six percent, but pure

938
00:45:00.840 --> 00:45:03.840
saw a thirty one percent drop, all electric thirty one

939
00:45:03.880 --> 00:45:06.719
percent drop. Well, hybrids were up thirty percent.

940
00:45:06.840 --> 00:45:07.360
Makes sense.

941
00:45:07.599 --> 00:45:10.760
That's kind of interesting. The country does seem to be

942
00:45:10.920 --> 00:45:16.199
adopting more electric technology, but.

943
00:45:16.119 --> 00:45:18.760
Until they read all the way, until the infrastructures there

944
00:45:18.800 --> 00:45:19.840
and the range gets better.

945
00:45:20.000 --> 00:45:22.480
And no Way reported ninety eight percent of their purchases

946
00:45:22.559 --> 00:45:23.679
last month were all electric.

947
00:45:24.159 --> 00:45:27.800
We did Norway. Yeah, Norway's really there, and we looked

948
00:45:27.800 --> 00:45:30.400
into that. Why why I know why? Yeah, they have

949
00:45:30.400 --> 00:45:33.039
a large government subs huge government subsidies. I mean, if

950
00:45:33.039 --> 00:45:34.880
you don't buy electric and no, you're an idiot.

951
00:45:35.239 --> 00:45:37.159
I mean it's basically just getting a way cheaper core.

952
00:45:37.320 --> 00:45:38.519
So why would you ever really?

953
00:45:38.679 --> 00:45:41.519
Yeah, yeah, so they're they're all in on non electric

954
00:45:41.719 --> 00:45:44.079
in Norway. I've no I noticed that a report that

955
00:45:44.119 --> 00:45:47.320
they were the number one electric vehicle company in the

956
00:45:47.320 --> 00:45:50.000
world or country in the world about six months ago.

957
00:45:50.039 --> 00:45:52.400
As I started to look into why why that is,

958
00:45:53.039 --> 00:45:55.480
and it's it's because you can buy them. They're three

959
00:45:55.519 --> 00:45:58.760
percent Well Hasbro, Hasbro, the you know, the toy company.

960
00:45:58.760 --> 00:46:02.239
We've talked about that before. Kids don't play with toys

961
00:46:02.280 --> 00:46:04.480
as much as they used to. They've got the iPads

962
00:46:04.519 --> 00:46:08.159
and the different things in their phones and stuff. It's

963
00:46:08.239 --> 00:46:12.360
up thirty percent this year Hasbro, which prompted Goldman Sachs

964
00:46:12.440 --> 00:46:14.679
to raise the doctor a buy s if astan you

965
00:46:14.760 --> 00:46:18.480
want to buy one stuff thirty percent? They said, Magic

966
00:46:18.800 --> 00:46:20.840
the Gathering. Do you guys know what the heck that is?

967
00:46:20.920 --> 00:46:24.239
No Magic the Gathering. I had never heard of it.

968
00:46:24.239 --> 00:46:27.440
It's a collectible card game that was first introduced in

969
00:46:27.559 --> 00:46:31.320
nineteen ninety three. Kind of maybe it's like I'm saying,

970
00:46:31.320 --> 00:46:34.159
maybe like pokemons something like that, So I was thinking

971
00:46:34.199 --> 00:46:37.320
of the game was first induced in nineteen ninety three,

972
00:46:37.400 --> 00:46:41.760
but they think Goldman Sacks thinks that that game could

973
00:46:41.800 --> 00:46:46.000
be all that for Hasbro going forward. So it'd be

974
00:46:46.039 --> 00:46:48.880
something to watch. A Coinbase do you talk about a

975
00:46:48.920 --> 00:46:51.440
week with a crypto move and higher? Coinbase had a

976
00:46:51.440 --> 00:46:55.280
heck of a week new product launches. Of course, they

977
00:46:55.280 --> 00:46:58.639
were included in the S and P five hundred and

978
00:46:58.679 --> 00:47:02.119
I think May so they were. They in June were

979
00:47:02.159 --> 00:47:04.599
the number one performing stock in the S and P

980
00:47:04.719 --> 00:47:07.119
five twenty percent and you.

981
00:47:07.119 --> 00:47:11.079
Had itb had best day of the year since May

982
00:47:11.239 --> 00:47:15.039
on Tuesday. Maybe that's stock in sectors. Ganda here come back.

983
00:47:15.400 --> 00:47:19.000
So bottom line, Enjoy the weekend, Be cautious. We've got

984
00:47:19.079 --> 00:47:22.159
an hour coming up of educational material for you. We

985
00:47:22.239 --> 00:47:24.519
appreciate your patience. We'll talk to you next week for

986
00:47:24.559 --> 00:47:26.800
a full two hour show. We want to be happy,

987
00:47:27.159 --> 00:47:30.239
we want to be healthy, Happy Birthday America, and a

988
00:47:30.320 --> 00:47:34.119
Greenberg Financial Well, we want to be profitable. See you

989
00:47:34.159 --> 00:47:34.679
next week.

990
00:47:35.920 --> 00:47:39.400
Hello, and welcome to Money Matters. I'm Sarah Peterson here

991
00:47:39.400 --> 00:47:43.119
with Dean Greenberg and Todd Glick of Greenberg Financial Group. Hello, gentlemen,

992
00:47:43.280 --> 00:47:46.519
Hi you again seven. Hello. Oh my gosh, I'm always

993
00:47:46.840 --> 00:47:48.639
I don't know where we're going today, but I know.

994
00:47:48.639 --> 00:47:49.840
It's where fun.

995
00:47:50.400 --> 00:47:52.679
It's probably going to go somewhere political.

996
00:47:52.760 --> 00:47:57.119
Knowing you oh not political. Well, everything is political if you.

997
00:47:57.079 --> 00:47:58.880
Think of it, it really is. But let's just talk

998
00:47:58.920 --> 00:48:00.639
about the fact that, you know, there's a lot of

999
00:48:00.719 --> 00:48:04.960
uncertainty and people are wondering. We don't have a crystal ball.

1000
00:48:05.000 --> 00:48:06.239
We don't know if our taxes are going to go

1001
00:48:06.280 --> 00:48:08.679
up and down. We don't know. But with all the

1002
00:48:08.760 --> 00:48:11.320
volatility in the markets and everywhere, we kind of want

1003
00:48:11.360 --> 00:48:13.079
to try to figure out where we're headed in the

1004
00:48:13.119 --> 00:48:13.920
next couple of years.

1005
00:48:15.159 --> 00:48:16.800
You know, when we see them a lot of clients.

1006
00:48:16.840 --> 00:48:20.400
Their biggest thing is about taxes. They really do. I

1007
00:48:20.400 --> 00:48:22.679
don't care who you are. Nobody wants to pay taxes.

1008
00:48:23.239 --> 00:48:26.360
They say they do until they have to pay the taxes.

1009
00:48:26.960 --> 00:48:29.760
You know, and you keep hearing it, and it is

1010
00:48:29.800 --> 00:48:33.880
a political football. Taxes about paying their fast share, paying

1011
00:48:33.920 --> 00:48:35.360
not their fast share and stuff.

1012
00:48:35.840 --> 00:48:36.039
You know.

1013
00:48:36.440 --> 00:48:38.440
I don't know what the answer is to that, But

1014
00:48:38.480 --> 00:48:43.960
the answer is is that if we have to raise taxes,

1015
00:48:44.559 --> 00:48:48.400
okay in my opinion, but yet we have to give

1016
00:48:48.400 --> 00:48:51.920
away billions, hundreds of billions of maybe trillions of dollars

1017
00:48:52.000 --> 00:48:56.639
away to around the world, they won't paying too much

1018
00:48:56.639 --> 00:49:01.480
in taxes. Our middle class and has to get a

1019
00:49:01.559 --> 00:49:04.400
tax break. They're the ones that get hurt the most.

1020
00:49:05.440 --> 00:49:08.480
We keep hearing that, but nobody actually dwells into it.

1021
00:49:09.079 --> 00:49:11.079
You and I both know what's the main thing they do.

1022
00:49:11.599 --> 00:49:13.039
Billionaires don't pay taxes.

1023
00:49:13.119 --> 00:49:13.320
Right.

1024
00:49:14.519 --> 00:49:16.320
How many billionaires are right?

1025
00:49:16.920 --> 00:49:19.320
At my point, I asked this question to a lot

1026
00:49:19.400 --> 00:49:23.519
of people. Most people think there's ten tho twenty thousand

1027
00:49:23.639 --> 00:49:28.400
billionaires in the United States. There's eight hundred and thirty

1028
00:49:28.760 --> 00:49:32.480
as of twenty twenty five, eight one hundred and thirty

1029
00:49:32.519 --> 00:49:37.039
billionaires in the United States. That's nothing. And we keep

1030
00:49:37.079 --> 00:49:39.320
saying that they're going to make up the difference.

1031
00:49:39.880 --> 00:49:40.320
They're not.

1032
00:49:41.039 --> 00:49:43.639
Who's going to make up the difference is the middle

1033
00:49:43.679 --> 00:49:48.320
class needs the tax breaks. Okay, that's who guts to

1034
00:49:48.320 --> 00:49:50.880
get the tax breaks. The billionaires don't pay much. We

1035
00:49:50.920 --> 00:49:52.960
hear it all the time. We hear Warren Buffett, I

1036
00:49:52.960 --> 00:49:56.079
don't pay as much as my secretary. Well, there's a

1037
00:49:56.119 --> 00:50:00.320
reason Congress has no guts to change the tax law

1038
00:50:00.920 --> 00:50:04.079
on the witch because the witch all in real estate.

1039
00:50:04.239 --> 00:50:06.519
And guess what the Congress is, they're in real estate.

1040
00:50:06.760 --> 00:50:09.400
So then it's all a shell game. At the end

1041
00:50:09.400 --> 00:50:12.039
of the day, we need to lower taxes for the

1042
00:50:12.039 --> 00:50:13.760
middle class. You don't need to low them for the

1043
00:50:14.480 --> 00:50:19.719
lower class. Low income people, they don't pay taxes. So

1044
00:50:19.760 --> 00:50:21.599
you've got to find that middle class to help them out.

1045
00:50:21.920 --> 00:50:24.239
And middle class is gone up. It used to be

1046
00:50:24.280 --> 00:50:27.360
you know, fifty sixty seventy grand that middle class. Today,

1047
00:50:27.480 --> 00:50:30.039
with the way prices are, it's probably double that. One

1048
00:50:30.119 --> 00:50:32.360
hundred and twenty five thousand. Winning your state thought, yeah, I.

1049
00:50:32.320 --> 00:50:34.400
Would say anything from sixty to one hundred and fifty.

1050
00:50:34.480 --> 00:50:36.320
Yeah, considered middle that's middle class.

1051
00:50:36.840 --> 00:50:38.719
So what do we do when we're when we're looking

1052
00:50:38.760 --> 00:50:42.239
at this, there are a lot of unknowns, But in

1053
00:50:42.320 --> 00:50:46.159
planning for our financial future, how can we utilize those

1054
00:50:46.159 --> 00:50:49.079
tools to help mitigate some of the texts.

1055
00:50:49.159 --> 00:50:50.679
Well, we know where taxes are going to be for

1056
00:50:50.719 --> 00:50:53.159
the next three and a half years, probably right, So

1057
00:50:53.280 --> 00:50:55.000
this gives us a little bit of a runway to

1058
00:50:55.039 --> 00:50:58.079
possibly do some strategies, like some rock conversions. If the

1059
00:50:58.119 --> 00:51:00.480
new administration comes in it says we still have a

1060
00:51:00.519 --> 00:51:02.320
deficit problem, how are we going to solve it. It's

1061
00:51:02.360 --> 00:51:03.840
likely going to be that they're going to try to

1062
00:51:03.920 --> 00:51:08.000
hike taxes, especially right It depends on the administration. But

1063
00:51:08.079 --> 00:51:11.159
if that administration does come to increase taxes, then you're

1064
00:51:11.159 --> 00:51:13.119
going to look at hindsight being twenty twenty, that we

1065
00:51:13.119 --> 00:51:14.960
should have been doing a whole bunch of rock conversions.

1066
00:51:15.639 --> 00:51:17.960
It's a difficult game to play because you don't really

1067
00:51:18.000 --> 00:51:19.920
know for sure if tax rates are going to be

1068
00:51:20.000 --> 00:51:23.280
higher in the future. It seems pretty likely with the

1069
00:51:23.320 --> 00:51:25.960
historic high deficit that we have, and it's potential that

1070
00:51:26.039 --> 00:51:27.639
something is going to have to happen if we are

1071
00:51:27.719 --> 00:51:29.920
able to cut the fat out of the spending, which

1072
00:51:30.199 --> 00:51:31.920
a lot of parties are trying to make it harder

1073
00:51:31.960 --> 00:51:33.719
and harder for people to do that. So if we

1074
00:51:33.760 --> 00:51:35.719
can't cut the fat of the spending, someone's going to

1075
00:51:35.760 --> 00:51:38.199
have to pay that bill, which likely means higher taxes.

1076
00:51:38.280 --> 00:51:40.360
So maybe it is time to do some rock conversions.

1077
00:51:40.440 --> 00:51:42.079
That's a decision you have to make on your own.

1078
00:51:42.519 --> 00:51:46.199
Maybe you console a tax professional, but ultimately it is

1079
00:51:46.320 --> 00:51:48.719
kind of a speculation whether or not you think tax

1080
00:51:48.800 --> 00:51:50.519
rates are going to be higher in the future.

1081
00:51:50.880 --> 00:51:52.000
But they've got to be spawned too.

1082
00:51:52.000 --> 00:51:54.079
If we do lower taxes for themental class and make

1083
00:51:54.079 --> 00:51:57.920
it a little bit more money, do something you didn't

1084
00:51:57.920 --> 00:52:01.000
do with that money before, invest it for your retirement.

1085
00:52:01.440 --> 00:52:03.960
Because as we talk, this is a whole plan. You know,

1086
00:52:04.000 --> 00:52:06.519
we talk about planning for people. I'm looking at what

1087
00:52:06.519 --> 00:52:07.159
the plan is.

1088
00:52:07.119 --> 00:52:09.719
For the United States of America, and that plan is

1089
00:52:09.760 --> 00:52:12.719
to get people eventually on Social Security, so you're putting

1090
00:52:12.719 --> 00:52:15.599
your own money away for your own retirement over time.

1091
00:52:15.639 --> 00:52:17.880
We've already started that when we started doing the four

1092
00:52:17.920 --> 00:52:20.519
way K plans and move them away from pension plans.

1093
00:52:20.960 --> 00:52:23.280
This is part of the whole period, but nobody wants

1094
00:52:23.280 --> 00:52:26.079
to lay it out in simple terms for people because

1095
00:52:26.079 --> 00:52:29.599
politicians are afraid to say it. The idea is, take

1096
00:52:29.639 --> 00:52:31.559
that when you get a raise, take party your raise

1097
00:52:31.599 --> 00:52:34.400
and put it away and then spend the other part.

1098
00:52:34.679 --> 00:52:38.639
If you're not making enough money, okay, then you've got

1099
00:52:38.639 --> 00:52:40.519
to come to see us because we got to put

1100
00:52:40.519 --> 00:52:43.480
you on a budget because you're spending too much money.

1101
00:52:43.639 --> 00:52:46.679
I hate to say that to people who think they're

1102
00:52:46.719 --> 00:52:49.320
not they don't have enough to spend. But you are

1103
00:52:49.400 --> 00:52:52.920
spending too much money if you cannot go ahead and

1104
00:52:52.960 --> 00:52:55.679
live andy. I know so many teachers who make forty

1105
00:52:55.719 --> 00:53:00.559
five to sixty thousand dollars the whole career, the millionaires,

1106
00:53:00.599 --> 00:53:04.440
because they lived within their means and put money away.

1107
00:53:05.280 --> 00:53:06.000
That's what they do.

1108
00:53:06.719 --> 00:53:09.400
What my daughter's friends are saying. You know, they're just

1109
00:53:09.440 --> 00:53:12.360
saying that the world is just getting so expensive that

1110
00:53:12.639 --> 00:53:13.800
everything intimidates them.

1111
00:53:13.920 --> 00:53:16.079
You know, what was being It's come back to that

1112
00:53:16.159 --> 00:53:17.719
be worth the budget And we talked about it in

1113
00:53:17.800 --> 00:53:20.280
other shows. But imagine if our government had a budget,

1114
00:53:20.599 --> 00:53:22.519
right and that's what they're trying to do right now.

1115
00:53:22.559 --> 00:53:24.639
Don't make it you're crazy, don't.

1116
00:53:24.400 --> 00:53:24.880
Make it scared.

1117
00:53:24.920 --> 00:53:27.719
She doesn't know how to spell budget. Okay, we understand

1118
00:53:27.760 --> 00:53:29.480
that that's the government.

1119
00:53:29.519 --> 00:53:30.880
I mean literally, we're just trying to I mean, it's

1120
00:53:30.920 --> 00:53:32.679
the whole doze. You're trying to make a budget for

1121
00:53:32.760 --> 00:53:35.079
the government, right so we don't have to pay higher

1122
00:53:35.119 --> 00:53:38.280
taxes in the future. It will happen if if we

1123
00:53:38.320 --> 00:53:40.079
can't cut the bill. The same thing will happen to

1124
00:53:40.119 --> 00:53:41.800
your financial plan. If you don't do a budget to

1125
00:53:41.840 --> 00:53:44.119
see what you're spending, and you don't spend for retirement

1126
00:53:44.280 --> 00:53:46.760
or save for retirement, that can is going to come

1127
00:53:46.840 --> 00:53:48.719
down the road one time and you won't be able

1128
00:53:48.760 --> 00:53:50.960
to retire because you didn't actually do the budget when

1129
00:53:50.960 --> 00:53:51.519
you're supposed to.

1130
00:53:52.280 --> 00:53:56.079
There's nobody I know that's that that came into this world,

1131
00:53:56.159 --> 00:54:00.679
their work world, without being given anything or inheritances, okay,

1132
00:54:01.159 --> 00:54:04.119
that had to build up their money, their their finances,

1133
00:54:04.159 --> 00:54:06.519
build up their career, build up their business, build up

1134
00:54:06.559 --> 00:54:09.000
what they are that would ever say it wasn't a

1135
00:54:09.039 --> 00:54:11.679
tough time to Eventually they got to a point they

1136
00:54:11.679 --> 00:54:13.280
were making a lot of money and able to put

1137
00:54:13.320 --> 00:54:15.679
some money away, which by the way, is probably in

1138
00:54:15.719 --> 00:54:18.840
their fifties or sixties if you started from the beginning.

1139
00:54:19.039 --> 00:54:21.400
Because you always filter every money back into the business,

1140
00:54:21.480 --> 00:54:22.800
you always have to make that payroll.

1141
00:54:22.840 --> 00:54:23.920
You always have to do stuff.

1142
00:54:24.039 --> 00:54:26.760
And you know what, any business person that says they

1143
00:54:26.880 --> 00:54:31.400
never had a failure is lying because everybody has problems.

1144
00:54:31.519 --> 00:54:34.159
And guess where that money comes from. Oops, that's my savings.

1145
00:54:34.159 --> 00:54:36.079
I got to put it into the business to keep

1146
00:54:36.079 --> 00:54:38.960
it going. Now it's not like, oh, you got laid

1147
00:54:38.960 --> 00:54:40.880
off and you've been saving and now you go work

1148
00:54:40.880 --> 00:54:43.679
for somebody else. So the whole thing comes together. There's

1149
00:54:43.719 --> 00:54:46.159
a plan that you have to look at. What's the

1150
00:54:46.199 --> 00:54:50.280
big plan is? What is our administration? What are our politicians?

1151
00:54:50.480 --> 00:54:53.480
What is the tax plan for America? Then what's the

1152
00:54:53.519 --> 00:54:55.920
tax plan for you? And how's that going to help

1153
00:54:55.960 --> 00:54:57.920
you save? You have to look at the big picture,

1154
00:54:57.920 --> 00:54:59.719
in the small picture, in the individual picture.

1155
00:55:00.000 --> 00:55:02.239
You look at the socialist countries that have super high

1156
00:55:02.239 --> 00:55:04.800
tax rates. Can you name a lot of billionaires out

1157
00:55:04.840 --> 00:55:07.679
of those countries or great companies coming out of those countries?

1158
00:55:08.000 --> 00:55:11.480
You can't because it de incentivizes risks taking. In order

1159
00:55:11.519 --> 00:55:14.400
for a company or an entrepreneur to actually create a

1160
00:55:14.440 --> 00:55:17.440
new business, a new product, something that society will benefit from,

1161
00:55:17.719 --> 00:55:19.960
they have to be able to actually have some incentive,

1162
00:55:20.239 --> 00:55:22.840
which is reward. Right, if you're going to take all

1163
00:55:22.840 --> 00:55:25.719
that reward away from taxes, those billionaires and companies will

1164
00:55:25.719 --> 00:55:28.000
move elsewhere and will be worse off because of it

1165
00:55:28.039 --> 00:55:30.159
and will get less taxes, So you have to keep

1166
00:55:30.199 --> 00:55:32.679
increasing the tax rate. It's a fool's errand.

1167
00:55:33.320 --> 00:55:35.079
Well I can't have said it any better than that.

1168
00:55:35.159 --> 00:55:36.679
We're going to take a quick commercial break when we

1169
00:55:36.719 --> 00:55:38.360
come back and talk more about your money matters, so

1170
00:55:38.400 --> 00:55:44.760
please stay with us. Hello, and welcome back to money Matters.

1171
00:55:44.800 --> 00:55:47.719
I'm Sarah Peterson here with Dean Greenberg and Todd Glick.

1172
00:55:47.760 --> 00:55:50.519
We always have fun talking about finance, which is why

1173
00:55:50.559 --> 00:55:53.320
I love hanging out with you guys, because most people don't.

1174
00:55:54.400 --> 00:55:56.320
You make it so easy to improve it, because you

1175
00:55:56.360 --> 00:55:58.719
make it so easy to understand. You really do. You

1176
00:55:58.760 --> 00:56:01.639
break it down something that's really intimidating for a lot

1177
00:56:01.639 --> 00:56:05.320
of people. To bury your financial cards to someone that

1178
00:56:05.519 --> 00:56:07.519
is intimidating, and I'm sure that that is why people

1179
00:56:07.599 --> 00:56:09.840
don't just, you know, pick up the phone. But the

1180
00:56:09.880 --> 00:56:11.920
reality is, if you don't do it, how are you

1181
00:56:11.920 --> 00:56:12.920
going to know if.

1182
00:56:12.800 --> 00:56:14.599
You're on that I learned a long time ago when

1183
00:56:14.639 --> 00:56:19.840
I started my financial talk show on the radio in

1184
00:56:19.960 --> 00:56:23.599
nineteen ninety I started doing it and I did a

1185
00:56:23.599 --> 00:56:26.679
little bit, and then I sat down with someone. She's

1186
00:56:26.719 --> 00:56:29.079
not my wife, but she told me what you need

1187
00:56:29.119 --> 00:56:31.599
to do is make it really simple. You might think

1188
00:56:31.639 --> 00:56:34.440
it's the most simple thing, but act like you're talking

1189
00:56:34.480 --> 00:56:37.679
to elementary school kids to make them understand. And if

1190
00:56:37.719 --> 00:56:41.199
you do and they understand you, they will trust you.

1191
00:56:41.960 --> 00:56:44.000
So we've always I've always used that in the back

1192
00:56:44.039 --> 00:56:46.719
of my mind, you're doing this to educate. If you're

1193
00:56:46.760 --> 00:56:48.880
going to educate, make them learn. How many times do

1194
00:56:48.920 --> 00:56:51.559
you sit in a classroom your whole life and just

1195
00:56:52.159 --> 00:56:54.760
hearing blah blah blah blah because it's over your hand,

1196
00:56:54.800 --> 00:56:58.159
you're not understanding it. But when you understand it, and

1197
00:56:58.239 --> 00:57:01.599
it's usually when we got older, it becomes something.

1198
00:57:01.639 --> 00:57:04.159
Oh wow, that's what he was talking about. That's what

1199
00:57:04.239 --> 00:57:04.599
he meant.

1200
00:57:04.639 --> 00:57:06.679
You know what I mean. I do the same thing coaching.

1201
00:57:06.719 --> 00:57:08.800
I got to make it so simple. When I'm trying

1202
00:57:08.800 --> 00:57:11.559
to tell people what to do, then they just don't

1203
00:57:11.599 --> 00:57:14.400
listen if it's too complicated. So a long time ago

1204
00:57:14.480 --> 00:57:17.639
on Larine, make it really simple so they understand, and

1205
00:57:17.679 --> 00:57:20.559
when they understand, then they trust you to come and

1206
00:57:20.599 --> 00:57:21.840
ask your questions.

1207
00:57:22.199 --> 00:57:25.960
Well, to me, it's exciting because this is like kind

1208
00:57:26.000 --> 00:57:28.960
of an area that is gray for a lot of people.

1209
00:57:29.000 --> 00:57:31.480
So it's exciting to make sense of it and realize

1210
00:57:31.760 --> 00:57:35.719
that it's not necessarily how much specifically you have or

1211
00:57:35.719 --> 00:57:37.760
you have saved, it's how you utilize it and what

1212
00:57:37.800 --> 00:57:39.599
you do going forward.

1213
00:57:39.719 --> 00:57:39.880
Yeah.

1214
00:57:39.920 --> 00:57:41.800
One of the things we do is in the second meaning,

1215
00:57:41.840 --> 00:57:43.960
the proposal, meaning we try to make it as simple

1216
00:57:44.000 --> 00:57:46.400
as possible for you. We show you where your income's

1217
00:57:46.440 --> 00:57:49.039
going to come from, what our recommendations are, what type

1218
00:57:49.079 --> 00:57:50.880
of model we're going to put you in, and what

1219
00:57:50.920 --> 00:57:54.519
that model consists of stocks versus bonds, how we would

1220
00:57:54.559 --> 00:57:56.880
rebalance it when we would do it, as well as

1221
00:57:56.880 --> 00:57:59.239
we'll show you a portfolio projection of all the moving

1222
00:57:59.280 --> 00:58:01.599
parts in your findinancial plan, laid out to you as

1223
00:58:01.679 --> 00:58:04.159
simply as possible. Because we understand at the end of

1224
00:58:04.199 --> 00:58:06.280
the day whether you do business with this or not.

1225
00:58:06.360 --> 00:58:08.119
We want to give you a proposal that you can

1226
00:58:08.280 --> 00:58:11.000
digest yourself, and you might still have questions at the

1227
00:58:11.079 --> 00:58:12.480
end of the day, we'll be here to answer them

1228
00:58:12.519 --> 00:58:14.280
for you, but we want it to be so simple

1229
00:58:14.280 --> 00:58:16.039
that you could take it home and actually implement it

1230
00:58:16.039 --> 00:58:18.840
yourself if you so desire to do, so I get it.

1231
00:58:19.400 --> 00:58:22.079
There's a lot of products out there, like lyrps that

1232
00:58:22.800 --> 00:58:27.920
are sophisticated products that work for some people. But ninety

1233
00:58:28.000 --> 00:58:29.800
nine percent of the people you try to talk to

1234
00:58:29.840 --> 00:58:32.480
them about they have no clue what it's for what

1235
00:58:32.559 --> 00:58:35.400
it is. And then the other people that do come

1236
00:58:35.440 --> 00:58:38.280
in and they do ask us about lorps and different

1237
00:58:38.280 --> 00:58:41.119
products like that. When we explain it, they get it,

1238
00:58:41.280 --> 00:58:45.280
understand it. Then we explain them to the risk and

1239
00:58:45.360 --> 00:58:48.760
most people never explain the entire risk of where that

1240
00:58:49.119 --> 00:58:52.719
tax free loan comes to them that if the premium

1241
00:58:52.760 --> 00:58:57.320
isn't there, to the dividends aren't there to pay the premium,

1242
00:58:57.599 --> 00:59:01.159
then they got to start paying premiums again the loan

1243
00:59:01.280 --> 00:59:04.360
becomes taxable. So there's a lot of things that people

1244
00:59:04.440 --> 00:59:06.760
don't understand that we try to make sure they do

1245
00:59:07.519 --> 00:59:12.039
and get it. There's a lot of sophisticated, complicated products

1246
00:59:12.719 --> 00:59:15.239
and people just don't get it, and that they don't

1247
00:59:15.280 --> 00:59:18.119
get it, they probably should stay away from it unless

1248
00:59:18.199 --> 00:59:20.079
they're sophisticated enough to learn it.

1249
00:59:20.159 --> 00:59:21.760
We talk about this on the radio show all the time.

1250
00:59:21.840 --> 00:59:25.079
Annuities will offer thirty percent bonuses, thirty five percent bonus

1251
00:59:25.079 --> 00:59:27.599
on your money in the first year. That's not actual money.

1252
00:59:27.599 --> 00:59:29.159
They're giving you a bonus on it. They're giving you

1253
00:59:29.159 --> 00:59:31.280
a bonus on your income value, which is what the

1254
00:59:31.360 --> 00:59:33.480
value that they will calculate how much income they'll pay

1255
00:59:33.480 --> 00:59:35.800
you out for the rest of your life. Perfectly fine

1256
00:59:35.800 --> 00:59:37.679
thing if that's what you ultimately wanted to use the

1257
00:59:37.679 --> 00:59:39.880
product for income. But if you think you're going to

1258
00:59:39.920 --> 00:59:41.639
get a thirty five percent growth on your money in

1259
00:59:41.679 --> 00:59:44.400
a year, that's not the case. It's a different calculation

1260
00:59:44.480 --> 00:59:47.480
for income, not accumulation value. So even simple things like

1261
00:59:47.519 --> 00:59:49.280
that that people feel like, oh, this is an easy thing,

1262
00:59:49.280 --> 00:59:51.239
it's a no brainer, you have to look into the

1263
00:59:51.280 --> 00:59:53.599
fine print and actually understand what that product is and

1264
00:59:53.679 --> 00:59:56.119
understand surrender schedules. The reason they can give you that

1265
00:59:56.159 --> 00:59:58.360
type of bonus is they're locking your money up from

1266
00:59:58.360 --> 01:00:00.079
sometimes twelve fourteen years.

1267
01:00:01.119 --> 01:00:03.239
And there are all places for annuities, there's no doubt

1268
01:00:03.280 --> 01:00:05.199
about it, and the places they I.

1269
01:00:05.079 --> 01:00:05.800
Will use them.

1270
01:00:06.039 --> 01:00:09.000
People want guaranteed income, they need to fill the gap

1271
01:00:09.039 --> 01:00:12.880
between their pension and in their retirement. There's some great

1272
01:00:12.880 --> 01:00:15.840
places to use it, but a lot of people just

1273
01:00:15.920 --> 01:00:20.159
sell them minnuities, and to us, that's a problem because

1274
01:00:20.159 --> 01:00:23.760
there's other alternatives right now. But mygas, I think mygas

1275
01:00:23.760 --> 01:00:27.079
are great. You know, Todd does a ton of those.

1276
01:00:27.800 --> 01:00:29.599
They're considered an annuity product.

1277
01:00:29.239 --> 01:00:31.960
And those those are the multi year guaranteed annuities for

1278
01:00:31.960 --> 01:00:33.920
those who don't know what mygas are, and they're pretty

1279
01:00:33.960 --> 01:00:35.800
much just like a CD. With an insurance company, you

1280
01:00:35.800 --> 01:00:37.679
can pick three, five, seven years and they're going to

1281
01:00:37.679 --> 01:00:39.800
give you a guaranteed rate for that period of time.

1282
01:00:39.960 --> 01:00:41.800
Your mind's going to be locked up, and sometimes you

1283
01:00:41.840 --> 01:00:44.440
can take out the interest penalty free during the term,

1284
01:00:44.679 --> 01:00:46.239
but you have to think about this, money's gonna be

1285
01:00:46.280 --> 01:00:48.519
locked up. But I'm gonna get a guaranteed rate that's

1286
01:00:48.519 --> 01:00:50.199
going to be a little higher than what CD rates

1287
01:00:50.239 --> 01:00:51.079
are going to be at the time.

1288
01:00:51.239 --> 01:00:53.639
I would even think the insurance industry is pretty valatile

1289
01:00:53.719 --> 01:00:55.960
right now with the fires on, all the storms and

1290
01:00:56.000 --> 01:00:58.880
things like insurance premiums aren't going up.

1291
01:01:00.079 --> 01:01:03.360
But don't forget the insurance also has an insurance pool.

1292
01:01:03.760 --> 01:01:07.159
You know, they have reserves, just like just like brokenge

1293
01:01:07.159 --> 01:01:09.800
firms got to have reserves, banks have to have reserves.

1294
01:01:09.960 --> 01:01:12.400
Everybody has to have reserves for a rady day. Now,

1295
01:01:12.400 --> 01:01:16.480
if it's a day that blows up, it explodes and

1296
01:01:16.519 --> 01:01:19.960
everything falls apart, like two thousand and eight. Well, there's

1297
01:01:20.000 --> 01:01:22.119
not enough reserves there, and that's when the government's got

1298
01:01:22.159 --> 01:01:24.679
to come in and do the things that they got

1299
01:01:24.719 --> 01:01:24.840
to do.

1300
01:01:24.920 --> 01:01:25.039
Right.

1301
01:01:25.039 --> 01:01:27.880
But don't forget AIG blew up in two thousand and

1302
01:01:27.880 --> 01:01:30.519
eight and it turned into Voia Financial. So a lot

1303
01:01:30.559 --> 01:01:32.840
of these annuity companies, if they do, are insurance companies.

1304
01:01:32.840 --> 01:01:34.480
That's just say, when they blow up, they'll get bought

1305
01:01:34.519 --> 01:01:36.840
up by another insurance company, same way that we saw

1306
01:01:37.519 --> 01:01:40.280
with I forgot who the bank that failed a couple

1307
01:01:40.280 --> 01:01:41.599
of years ago, and they got bought up by a

1308
01:01:41.599 --> 01:01:43.960
bigger bank. That's kind of how usually it would happen.

1309
01:01:44.039 --> 01:01:46.400
But to keep people's peace of mind, also, there's something

1310
01:01:46.480 --> 01:01:49.280
called a state Guarantee Fund that each state has up

1311
01:01:49.280 --> 01:01:51.519
to two hundred and fifty thousand that gives you protection

1312
01:01:51.599 --> 01:01:55.599
if that insurance company in your state goes debut. And

1313
01:01:55.639 --> 01:01:57.960
also people don't know the insurance companies have ratings, like

1314
01:01:58.239 --> 01:02:00.599
you can look at how strong and insured company is

1315
01:02:00.599 --> 01:02:03.280
from going debunk. There's a plus rated a rat and

1316
01:02:03.320 --> 01:02:05.400
that's why we try to shop for only A rated

1317
01:02:05.480 --> 01:02:08.800
or higher products from annuity companies. That are a rated higher.

1318
01:02:08.800 --> 01:02:11.440
We don't want to go into the B area because

1319
01:02:11.480 --> 01:02:12.800
even though you might get a little better of a

1320
01:02:12.840 --> 01:02:15.280
product on paper, who knows that product is actually going

1321
01:02:15.320 --> 01:02:17.280
to make it through the term if that company is

1322
01:02:17.320 --> 01:02:17.800
not around.

1323
01:02:18.320 --> 01:02:19.599
So wrapping this whole thing up.

1324
01:02:20.079 --> 01:02:22.320
When they come to us for a financial plan, right,

1325
01:02:22.440 --> 01:02:24.840
and we sit and we talk about ideas, we don't

1326
01:02:24.880 --> 01:02:26.440
know what product we want to put them in.

1327
01:02:26.559 --> 01:02:27.960
We don't look at what it is and go, oh,

1328
01:02:28.000 --> 01:02:29.119
we got to do this, So we got.

1329
01:02:29.039 --> 01:02:30.719
To do that. Just going to ask that question, I

1330
01:02:30.760 --> 01:02:33.360
knew you were That's why I said it. I really was. Well, no,

1331
01:02:33.440 --> 01:02:35.159
it's just it's great to know that you guys aren't

1332
01:02:35.239 --> 01:02:37.000
selling me on something.

1333
01:02:37.159 --> 01:02:37.360
Right.

1334
01:02:37.599 --> 01:02:40.360
Well, some people have this product and whatever this is

1335
01:02:40.400 --> 01:02:42.480
that they're doing here is to sell that product.

1336
01:02:42.599 --> 01:02:42.800
Right.

1337
01:02:42.880 --> 01:02:46.000
We do all this here, whatever is in this circle

1338
01:02:46.039 --> 01:02:48.280
that best fits their plan, that's what we do.

1339
01:02:49.039 --> 01:02:51.119
And it's just great because it does seem like there's

1340
01:02:51.199 --> 01:02:52.920
more and more products every year, and more and more

1341
01:02:52.960 --> 01:02:55.079
opportunities for you, better.

1342
01:02:54.920 --> 01:02:58.440
And better ways to mitigate risk, for clients, to put

1343
01:02:58.480 --> 01:03:02.760
them in conservative ways and positions, keep them liquid. All

1344
01:03:02.800 --> 01:03:04.960
those things out of there out there right now, and

1345
01:03:05.000 --> 01:03:07.920
of course it's obviously risk reward. The higher the risk,

1346
01:03:08.039 --> 01:03:10.679
well the reward, but the bigger risk you want less.

1347
01:03:10.760 --> 01:03:13.039
You don't make as much, but you don't lose as much.

1348
01:03:13.280 --> 01:03:15.480
And that's our job as advisors. We learn every single

1349
01:03:15.519 --> 01:03:17.760
day to add another tool to our tool belt so

1350
01:03:17.800 --> 01:03:19.360
that when we meet a new client and we have

1351
01:03:19.440 --> 01:03:21.880
a new idea or new project we have to fix,

1352
01:03:22.119 --> 01:03:23.760
we have that tool that we'll need to use.

1353
01:03:24.480 --> 01:03:26.639
Well, I hope you've been listening, and we have more

1354
01:03:26.679 --> 01:03:29.599
after this quick commercial break, so please stay with us

1355
01:03:29.719 --> 01:03:32.239
five two zero five four four four nine zero nine.

1356
01:03:32.280 --> 01:03:35.840
You get a complementary financial plan that other advisors charge

1357
01:03:35.880 --> 01:03:38.320
thousands of dollars or more for, and you get it

1358
01:03:38.360 --> 01:03:40.519
for just hang out with us for thirty minutes and

1359
01:03:41.039 --> 01:03:43.639
listening to us try to educate you on your money matters.

1360
01:03:43.639 --> 01:03:46.239
So we'll see you in a few Hello, and welcome

1361
01:03:46.320 --> 01:03:48.840
back to money Matters. I'm Sarah Peterson here with Dean

1362
01:03:48.880 --> 01:03:51.480
Greenberg and Todd Click and a lot of the things

1363
01:03:51.559 --> 01:03:56.400
I really adore about you both is your incredible relationships

1364
01:03:56.400 --> 01:03:58.679
that you have with your clients. You get to know

1365
01:03:58.719 --> 01:04:01.599
people pretty well when you're dealing with their finances, it's

1366
01:04:01.599 --> 01:04:04.199
such a personal thing, and I would love for you

1367
01:04:04.280 --> 01:04:07.280
to share some stories with us of some clients that

1368
01:04:07.320 --> 01:04:10.159
have recently inspired you, or maybe mistakes that have been made.

1369
01:04:10.559 --> 01:04:13.239
I just think it's neat for people to understand, like

1370
01:04:13.440 --> 01:04:15.039
everybody's situation is different.

1371
01:04:15.400 --> 01:04:17.400
Yeah, I think we'll start with the bad first, and

1372
01:04:17.480 --> 01:04:19.119
we'll go to the we'll finish off a high night.

1373
01:04:19.159 --> 01:04:20.159
Okay, we'll finish.

1374
01:04:20.679 --> 01:04:22.719
So I think one of the mistakes I've heard recently

1375
01:04:22.800 --> 01:04:25.239
is the fact that this client comes in he says,

1376
01:04:25.360 --> 01:04:27.840
for the last two years, I'm very conservative. I stayed,

1377
01:04:27.880 --> 01:04:30.199
I sold all the cash, and I've been missing out

1378
01:04:30.199 --> 01:04:32.360
on this entire market run. But now it's come back

1379
01:04:32.400 --> 01:04:34.440
ten percent, So this is the time to get in.

1380
01:04:35.039 --> 01:04:37.360
Just because the market came back ten percent, you didn't

1381
01:04:37.360 --> 01:04:39.599
even come close to all the gains that you missed

1382
01:04:39.639 --> 01:04:42.760
out on in over those two years. So the people

1383
01:04:42.800 --> 01:04:44.599
that I've heard a lot of times come in and

1384
01:04:44.599 --> 01:04:47.119
say the market's too high, it's too overvalued, it shouldn't

1385
01:04:47.119 --> 01:04:48.920
be this high. And then it keeps going higher, and

1386
01:04:48.960 --> 01:04:50.920
it keeps going higher, and then eventually it drops a

1387
01:04:50.960 --> 01:04:53.519
little bit, but that's not even enough for them to say, oh,

1388
01:04:53.599 --> 01:04:55.440
this is the time to buy now. They never actually

1389
01:04:55.480 --> 01:04:58.039
get in the market. It's always too overvalued, it's always

1390
01:04:58.039 --> 01:05:00.000
too high. But the fact that the market is always

1391
01:05:00.159 --> 01:05:02.400
a new all time high is kind of telling them

1392
01:05:02.400 --> 01:05:04.239
that they're wrong over a long period of time. So

1393
01:05:04.280 --> 01:05:06.239
that's to say that that'd be the biggest mistake. I

1394
01:05:06.239 --> 01:05:09.840
would say, keep invested, understand that the markets have always

1395
01:05:09.880 --> 01:05:12.719
made a new all time high. Just got to have time.

1396
01:05:13.000 --> 01:05:15.360
Sounds like you're more in the long game too, So

1397
01:05:15.400 --> 01:05:18.239
people need to think about that the bigger picture of this.

1398
01:05:19.519 --> 01:05:22.559
Do you have any bad examples from clients bad takes.

1399
01:05:22.679 --> 01:05:24.599
Over the years.

1400
01:05:25.840 --> 01:05:27.360
That client was a very interesting one.

1401
01:05:27.440 --> 01:05:29.679
Yeah, that's a good one, all right. So this was

1402
01:05:29.719 --> 01:05:32.239
in two thousand and eight. We had the client through

1403
01:05:32.280 --> 01:05:36.880
the nineties and stuff, and the bottom line is her

1404
01:05:36.960 --> 01:05:41.239
husband had worked for Bank America, and so they built

1405
01:05:41.239 --> 01:05:42.639
it up, built it up, built it out. There was

1406
01:05:42.679 --> 01:05:44.719
a million five and day and they were getting dividends.

1407
01:05:45.199 --> 01:05:47.519
I can't tell you how. It was more than seventy

1408
01:05:47.519 --> 01:05:51.480
percent of the portfolio. So we separated it out so

1409
01:05:52.079 --> 01:05:54.599
that way we would never sell it. She didn't want

1410
01:05:54.599 --> 01:05:56.559
to sell it. She wanted to keep it because she

1411
01:05:56.599 --> 01:05:59.559
wanted individends. I tried for so long for her to

1412
01:05:59.599 --> 01:06:03.639
sell something so she can diversify more. Two thousand and eight,

1413
01:06:03.719 --> 01:06:05.639
comm not only did she lose in her own account,

1414
01:06:05.679 --> 01:06:09.079
but that Bank America went all the way down to

1415
01:06:09.199 --> 01:06:13.119
like two dollars. She lost all her money. The worst

1416
01:06:13.119 --> 01:06:15.880
part is all the dividends. She did not have any

1417
01:06:15.920 --> 01:06:17.920
of that money to live on. She had none of

1418
01:06:17.920 --> 01:06:22.320
that money to do it. I know it was stressful

1419
01:06:22.360 --> 01:06:27.320
for it was a long time ago. Unfortunately, I don't

1420
01:06:27.320 --> 01:06:30.480
know if she's still here, but she lost everything she

1421
01:06:30.559 --> 01:06:31.519
had and I hope that.

1422
01:06:31.519 --> 01:06:32.440
She was able to recover.

1423
01:06:33.480 --> 01:06:35.559
As an advisor, I mean, what do you learn from

1424
01:06:35.599 --> 01:06:38.239
these things? Where do you go from there? I mean,

1425
01:06:38.320 --> 01:06:40.000
so much of this stuff is unavoidable.

1426
01:06:40.119 --> 01:06:42.440
Yeah, Unfortunately, you are the CFO at the end of

1427
01:06:42.480 --> 01:06:45.199
the day, you're the chief financial officer for the plan.

1428
01:06:45.280 --> 01:06:48.360
But ultimately they're the CEO. They make the end decision.

1429
01:06:48.760 --> 01:06:51.119
You can't make them not spend at the register. You're

1430
01:06:51.119 --> 01:06:53.199
not going to be with them on their everyday lives,

1431
01:06:53.239 --> 01:06:55.679
so it is their decision at the end of the day.

1432
01:06:55.679 --> 01:06:58.559
We are the ones that try to optimize and advise

1433
01:06:58.599 --> 01:07:00.840
you and be your therapist and trying to tell you

1434
01:07:00.880 --> 01:07:03.079
why this is not a good idea. But if we

1435
01:07:03.119 --> 01:07:05.519
can't break through to you, you know, you can't make

1436
01:07:05.559 --> 01:07:07.119
a horse drink water. You can just bring it to them.

1437
01:07:07.159 --> 01:07:08.840
But I get it because a husband worked for them

1438
01:07:08.880 --> 01:07:11.519
for thirty five forty years. They built it up, he

1439
01:07:11.599 --> 01:07:15.159
passed away. This was her attachment to a husband. So

1440
01:07:15.199 --> 01:07:17.800
I get that part of it. Take the emotions out

1441
01:07:17.800 --> 01:07:21.639
of investing. Okay, they don't care about you. You don't

1442
01:07:21.639 --> 01:07:25.719
care about them. Care about yourself, all right. Every time

1443
01:07:25.760 --> 01:07:29.239
you get greedy, every time I see in it, something happens.

1444
01:07:29.639 --> 01:07:31.960
Something happens all the time, and people all think you

1445
01:07:31.960 --> 01:07:32.559
get rich quick.

1446
01:07:32.639 --> 01:07:34.599
You don't. It's all the time. I tell you a

1447
01:07:34.599 --> 01:07:35.039
good story.

1448
01:07:35.679 --> 01:07:37.960
My favorite good story is a client just recently, because

1449
01:07:37.960 --> 01:07:39.599
we went through the whole plan, they had a nine

1450
01:07:39.599 --> 01:07:41.280
to nine percent, they realized, oh, I can actually spend

1451
01:07:41.320 --> 01:07:43.280
a little bit more. Okay, So we went through it

1452
01:07:43.360 --> 01:07:45.880
and after they we showed them that they could spend more,

1453
01:07:45.920 --> 01:07:47.599
they did one hundred thousand dollars on a home improve

1454
01:07:47.599 --> 01:07:49.119
and they didn't think they could do. They were able

1455
01:07:49.119 --> 01:07:51.920
to spend more on vacations. But then they're actually able

1456
01:07:52.000 --> 01:07:55.440
to spend more on vacations with family not just on themselves,

1457
01:07:55.559 --> 01:07:58.920
but having experiences with themselves and their family. And they said,

1458
01:07:59.199 --> 01:08:01.000
this has actually brought me so much more joy to

1459
01:08:01.039 --> 01:08:03.320
my life. The financial plan has helped me uncover how

1460
01:08:03.400 --> 01:08:05.840
much assets I actually have and actually makes me feel

1461
01:08:05.840 --> 01:08:09.039
comfortable with spending at this rate. I didn't understand where

1462
01:08:09.079 --> 01:08:11.320
all my money was. It was all different places, but

1463
01:08:11.360 --> 01:08:13.719
now that's all in one picture. I really feel comfortable

1464
01:08:13.880 --> 01:08:15.639
to spend at this rate because I know there's a

1465
01:08:15.679 --> 01:08:17.159
plan behind it.

1466
01:08:17.159 --> 01:08:19.720
It's the best kind of story. That's the best.

1467
01:08:21.039 --> 01:08:25.560
So we have one We have another client and she

1468
01:08:25.680 --> 01:08:28.880
was a retirement home and she was supposed to come

1469
01:08:28.880 --> 01:08:31.640
in and see it's just one day and she needed

1470
01:08:31.680 --> 01:08:34.159
to go ahead and sign some paperwork because she was

1471
01:08:34.239 --> 01:08:36.199
giving some money to her son who is buying a

1472
01:08:36.279 --> 01:08:39.439
house that would have it like an extra an extra

1473
01:08:39.880 --> 01:08:44.079
attachment to the house as them, so she can come

1474
01:08:44.079 --> 01:08:46.399
there and spend a lot of time when she wanted

1475
01:08:46.399 --> 01:08:48.920
to when they were in Texas well.

1476
01:08:48.960 --> 01:08:49.680
She fell.

1477
01:08:50.920 --> 01:08:54.159
At the retirement home the day before, broke a hip

1478
01:08:54.920 --> 01:08:57.680
and couldn't walk, but she needed to get it down

1479
01:08:57.800 --> 01:09:02.079
because it was closing. One of our advisors out to

1480
01:09:02.119 --> 01:09:03.920
see her get all.

1481
01:09:03.800 --> 01:09:04.840
The paperwork done for her.

1482
01:09:05.479 --> 01:09:08.039
On the way, he picked up a bunch of flowers,

1483
01:09:08.760 --> 01:09:12.239
a whole bouquet of flowers on his own, and brought

1484
01:09:12.239 --> 01:09:14.880
it to and gave it to her. It made her

1485
01:09:14.920 --> 01:09:16.680
a day, the fact that we went out and did

1486
01:09:16.720 --> 01:09:18.560
it for her so she didn't have to do it,

1487
01:09:18.600 --> 01:09:21.680
so she was able to not disappoint her son and

1488
01:09:21.720 --> 01:09:24.439
then brought a flowers. She was like the Queen of

1489
01:09:24.479 --> 01:09:27.039
the bull because everybody who was there, who's that young

1490
01:09:27.079 --> 01:09:29.680
guy giving me flyers? He's expected, you know, And it

1491
01:09:29.800 --> 01:09:31.319
was very cool and I didn't know we did that.

1492
01:09:31.439 --> 01:09:33.439
He came back and told me. And that's the type

1493
01:09:33.439 --> 01:09:35.640
of people I have working for me. That's people that

1494
01:09:35.720 --> 01:09:39.319
care about others, especially elder clients.

1495
01:09:39.520 --> 01:09:41.600
At the end of the day, isn't that Everybody just

1496
01:09:41.720 --> 01:09:45.960
kind of wants to get their handheld a little bit, right,

1497
01:09:46.199 --> 01:09:49.880
And sometimes it's intimidating to admit that. Right, you know,

1498
01:09:50.520 --> 01:09:52.479
I've made as much money and I do this and that,

1499
01:09:52.920 --> 01:09:55.399
but it is a little bit of a vulnerability and

1500
01:09:55.399 --> 01:09:57.199
once you get past that point.

1501
01:09:56.880 --> 01:09:58.720
And that's why we have a team approach. Not only

1502
01:09:58.720 --> 01:10:01.039
are we the money managers to findinancial planners and the

1503
01:10:01.079 --> 01:10:04.720
financial counselors and therapists. But we have teammates alongside of

1504
01:10:04.760 --> 01:10:08.720
us as state planners, the tax strategists CPAs, as well

1505
01:10:08.760 --> 01:10:11.600
as medicare specialists, people that will shop for our clients'

1506
01:10:11.800 --> 01:10:15.279
home and auto insurance, homeowners insurance, you know, all kinds

1507
01:10:15.319 --> 01:10:16.199
of different insurances.

1508
01:10:16.239 --> 01:10:16.479
You can't.

1509
01:10:16.479 --> 01:10:18.239
We have people for that. We have people for every

1510
01:10:18.239 --> 01:10:20.560
little part of someone's financial life, and that's what our

1511
01:10:20.560 --> 01:10:22.239
clients want at the end of the day. They want

1512
01:10:22.279 --> 01:10:23.960
to know that when they come to us, everything is

1513
01:10:24.000 --> 01:10:25.960
taken care of and like you said, someone's looking out

1514
01:10:25.960 --> 01:10:26.640
for their best interest.

1515
01:10:26.680 --> 01:10:30.880
I think whatever reason, younger people are afraid to talk

1516
01:10:30.920 --> 01:10:35.159
to older people on a very close basis, get to

1517
01:10:35.199 --> 01:10:37.880
know them intimately. What's about, what do they do with

1518
01:10:38.199 --> 01:10:40.359
their children and stuff? And I learned this when I

1519
01:10:40.359 --> 01:10:42.079
own my restaurant, Shlom owned Bridos.

1520
01:10:42.520 --> 01:10:43.439
I couldn't get.

1521
01:10:43.279 --> 01:10:46.199
My service to go talk to the older people because

1522
01:10:46.239 --> 01:10:49.720
they were crotchety. And I said, the crotchety because they're hungry.

1523
01:10:50.119 --> 01:10:52.560
They came here to eat the greatest corned beef up.

1524
01:10:52.560 --> 01:10:55.119
It's draw me sandwich, they know, and they're going to

1525
01:10:55.159 --> 01:10:58.079
take some home. Go talk to them, give them pickles,

1526
01:10:58.199 --> 01:11:00.560
give them something, tell them the foods on the way,

1527
01:11:00.800 --> 01:11:01.399
kid with them.

1528
01:11:03.079 --> 01:11:04.119
Customer serve time.

1529
01:11:04.520 --> 01:11:06.640
If you are talking about customer service, and that's what.

1530
01:11:06.600 --> 01:11:09.239
It all all, it is, well, Oka, what business you

1531
01:11:09.319 --> 01:11:13.239
are if you're in customer service, be an extrovert, have empathy,

1532
01:11:13.600 --> 01:11:16.479
talk to them, get to know them. They'll trust you.

1533
01:11:16.479 --> 01:11:18.159
You build them an empuy it from that.

1534
01:11:18.720 --> 01:11:20.680
Okay, So what they need to do, all they need

1535
01:11:20.720 --> 01:11:22.680
to do is pick up that phone and make a

1536
01:11:22.720 --> 01:11:24.680
phone call. They're going to get you. They'll come in.

1537
01:11:24.920 --> 01:11:26.520
You said you have coffee. You don't even drink it.

1538
01:11:26.560 --> 01:11:29.560
I don't understand that. But have a cup of coffee

1539
01:11:29.600 --> 01:11:31.760
and sit down and talk and find out if they're

1540
01:11:31.760 --> 01:11:32.680
on the right path.

1541
01:11:33.479 --> 01:11:35.039
It's not easy here for you.

1542
01:11:36.119 --> 01:11:37.920
Well, thank you so much for spending time with us.

1543
01:11:37.960 --> 01:11:40.039
I hope you learned as much as I always do

1544
01:11:40.159 --> 01:11:43.000
sitting here with these fine gentlemen. And they are offering

1545
01:11:43.039 --> 01:11:46.800
this to you, the viewers, a complimentary financial plan which

1546
01:11:46.880 --> 01:11:49.560
can otherwise be thousands of dollars or more. All you

1547
01:11:49.600 --> 01:11:51.880
need to do is pick up the phone five two

1548
01:11:51.960 --> 01:11:55.079
zero five four four four nine zero nine and we'll

1549
01:11:55.079 --> 01:12:32.279
see you next time with your money matters. Hello, and

1550
01:12:32.359 --> 01:12:35.600
welcome to Money Matters. I'm Sarah Peterson here with Dean

1551
01:12:35.680 --> 01:12:39.600
Greenberg and Dylan Greenberg of Greenberg Financial Group. You gentlemen,

1552
01:12:39.640 --> 01:12:41.720
look amazing today as always.

1553
01:12:41.439 --> 01:12:42.640
And you do too well.

1554
01:12:42.640 --> 01:12:48.760
Thank you, Thank you, sy me no. I always love

1555
01:12:48.800 --> 01:12:52.439
being with you guys. You managed to make financial planning

1556
01:12:52.439 --> 01:12:54.720
sound fun to a lot of people. That's not the case,

1557
01:12:54.760 --> 01:12:56.640
but you honestly do think it is. So that's why

1558
01:12:56.640 --> 01:12:57.159
we love you.

1559
01:12:57.239 --> 01:12:57.319
Well.

1560
01:12:57.359 --> 01:12:58.680
It's our favorite thing to do is talk.

1561
01:12:58.520 --> 01:13:01.199
About the financial plan one hundred percent.

1562
01:13:01.159 --> 01:13:02.239
Become so intricate.

1563
01:13:02.279 --> 01:13:04.039
Over the years, it used to be a different business,

1564
01:13:04.039 --> 01:13:07.119
and nowadays it's just become It's such an easy thing

1565
01:13:07.159 --> 01:13:09.119
to do now with the technology that we have and

1566
01:13:09.119 --> 01:13:09.720
we've been able to.

1567
01:13:09.880 --> 01:13:11.880
Does it amaze you how many people don't have it?

1568
01:13:12.000 --> 01:13:14.000
I mean it's so easy, and how many people still

1569
01:13:14.039 --> 01:13:14.560
don't have it?

1570
01:13:15.039 --> 01:13:15.239
Yeah?

1571
01:13:15.279 --> 01:13:17.079
Well, a lot of it I think becomes because of

1572
01:13:17.119 --> 01:13:19.239
the fear of it. The main thing that we always

1573
01:13:19.239 --> 01:13:20.800
see if they don't do is because they've been putting

1574
01:13:20.840 --> 01:13:23.439
it off because they're scared. Are we going to be

1575
01:13:23.800 --> 01:13:25.199
good in retirement? Are we going to be able to

1576
01:13:25.199 --> 01:13:26.680
retire when we want? We're gonna able?

1577
01:13:26.840 --> 01:13:29.199
Little to have enough money, or we're going to outlive.

1578
01:13:28.880 --> 01:13:30.119
Our money, or are you going to tell them to

1579
01:13:30.119 --> 01:13:30.800
stop spending?

1580
01:13:30.840 --> 01:13:32.319
Maybe sometimes you have to.

1581
01:13:32.560 --> 01:13:34.279
We've had clients where we have to tell them to

1582
01:13:34.279 --> 01:13:36.680
spend less money or they're going to drain their accounts

1583
01:13:36.680 --> 01:13:38.119
and that's not what we want.

1584
01:13:38.119 --> 01:13:39.760
But then you have some people who you say they

1585
01:13:39.760 --> 01:13:40.479
can spend more.

1586
01:13:40.800 --> 01:13:43.319
Oh yeah, we definitely have people that that's more often

1587
01:13:43.319 --> 01:13:45.840
than not. People can spend more than they think in retirement.

1588
01:13:46.000 --> 01:13:48.840
But it's that transition of the accumulation phase where they're

1589
01:13:48.880 --> 01:13:51.800
saving their money through their working years and their four

1590
01:13:51.840 --> 01:13:53.600
one ks and their iras, and now all of a sudden,

1591
01:13:53.840 --> 01:13:56.359
their paycheck is going to be coming from themselves, not

1592
01:13:56.439 --> 01:13:58.159
from the company that they work for for thirty years.

1593
01:13:58.199 --> 01:14:01.479
So it's a hard mindset to change.

1594
01:14:02.159 --> 01:14:05.000
I have so many friends who are retiring young. I

1595
01:14:05.000 --> 01:14:07.319
think the stress is just getting to a lot of people.

1596
01:14:07.600 --> 01:14:10.399
I mean younger and younger. Again. It's like a generational thing.

1597
01:14:10.800 --> 01:14:13.239
We were working really late and now people are saying, hey,

1598
01:14:13.239 --> 01:14:15.399
I'm fifty five, like I can do this.

1599
01:14:15.520 --> 01:14:17.680
You know fifty five you said, yeah, fifty five.

1600
01:14:18.319 --> 01:14:21.079
I have friends yeah, and they're either done well or

1601
01:14:21.119 --> 01:14:24.079
they're going to live unless going forward.

1602
01:14:24.039 --> 01:14:25.560
Or they're going to get bored in two years and

1603
01:14:25.600 --> 01:14:26.199
go back to work.

1604
01:14:26.239 --> 01:14:27.760
I know, I think it sounds great to a lot

1605
01:14:27.760 --> 01:14:29.279
of people. Oh yeah, it could be a you know,

1606
01:14:29.800 --> 01:14:32.039
stay home and play golf and you know.

1607
01:14:32.079 --> 01:14:32.760
Cook and yeah.

1608
01:14:32.800 --> 01:14:34.399
And I mean it depends too what those people do.

1609
01:14:34.439 --> 01:14:36.239
Sometimes we do have clients who retire in their fifties

1610
01:14:36.279 --> 01:14:37.720
and never work again. But it's because they have a

1611
01:14:37.800 --> 01:14:40.000
nice pension from a company that they work for for

1612
01:14:40.039 --> 01:14:40.840
their entire career.

1613
01:14:41.039 --> 01:14:43.760
But there's a huge emotional component to letting go of

1614
01:14:43.760 --> 01:14:45.520
something that you've kind of worked your whole life for,

1615
01:14:45.720 --> 01:14:48.720
or feeling sort of irrelevant, you know, not having that

1616
01:14:49.239 --> 01:14:51.560
clock every day waking you up to get up for

1617
01:14:51.600 --> 01:14:52.000
a reason.

1618
01:14:52.079 --> 01:14:54.359
There's a big but you hit that right on the head.

1619
01:14:54.960 --> 01:14:57.319
And I try to explain that to people when you

1620
01:14:57.359 --> 01:15:02.439
get old, if you lose your relevance, your purpose of

1621
01:15:02.520 --> 01:15:05.560
getting up and doing stuff, you get old.

1622
01:15:06.399 --> 01:15:08.479
You know, if you don't have a hobby, you don't

1623
01:15:08.479 --> 01:15:09.279
have something to do.

1624
01:15:09.479 --> 01:15:11.800
And I keep and I keep telling my wife and

1625
01:15:11.880 --> 01:15:14.920
my family that as long as I have my senses, I'm.

1626
01:15:14.880 --> 01:15:15.920
I want to be relevant now.

1627
01:15:15.960 --> 01:15:19.039
I don't want to worry about operations on an everyday basis.

1628
01:15:19.079 --> 01:15:21.520
That's why I have my team, you know, and started

1629
01:15:21.880 --> 01:15:25.000
teaching them how to do things. But relevance is very important,

1630
01:15:25.079 --> 01:15:28.119
giving back is very important, mentoring is very important. But

1631
01:15:28.159 --> 01:15:29.840
you have to know who you are. Why is this

1632
01:15:29.960 --> 01:15:33.199
fun for us? It's because we're extroverts. We're not introverts.

1633
01:15:33.199 --> 01:15:35.399
Can you imagine being an introvert and having to deal

1634
01:15:35.439 --> 01:15:36.159
with people every day?

1635
01:15:36.199 --> 01:15:36.640
We love it.

1636
01:15:36.680 --> 01:15:40.000
We love meeting people, talking to them, helping them, you know.

1637
01:15:40.680 --> 01:15:43.720
And and if you're if you're if you're a narcissist,

1638
01:15:44.079 --> 01:15:46.439
that will only come across well either because you've got

1639
01:15:46.439 --> 01:15:46.920
to be a giver.

1640
01:15:47.039 --> 01:15:48.640
You've got to be able to put.

1641
01:15:48.560 --> 01:15:51.319
Yourself in the client's position and understand and hear them

1642
01:15:51.600 --> 01:15:53.279
and then solve their problem.

1643
01:15:53.359 --> 01:15:55.960
We'll problem solver us. And I mean that's the financial plan.

1644
01:15:56.279 --> 01:15:58.319
We learn about the client. They come in brand new,

1645
01:15:58.319 --> 01:16:00.560
we never met them before. We talk to them for

1646
01:16:00.560 --> 01:16:02.880
about an hour, two hours, however long it takes, and

1647
01:16:02.960 --> 01:16:04.960
we learn all about their life, about their journey, about

1648
01:16:04.960 --> 01:16:08.119
their goals and retirement, their kids, their grandkids, anything like that.

1649
01:16:08.439 --> 01:16:12.039
And obviously it revolves around the financial aspects of it.

1650
01:16:12.119 --> 01:16:14.439
But it is a lot of your life. So we

1651
01:16:14.600 --> 01:16:17.319
learn a lot about people really quickly, and it's very

1652
01:16:17.439 --> 01:16:19.159
rewarding because a lot of people have a lot of

1653
01:16:19.159 --> 01:16:19.800
cool stories.

1654
01:16:20.520 --> 01:16:23.319
I love that, And you're learning so much about the

1655
01:16:23.359 --> 01:16:25.119
things that they did to get them to that point,

1656
01:16:25.159 --> 01:16:27.760
which I'm sure relates to your other clients. I mean,

1657
01:16:27.800 --> 01:16:31.039
it helps you kind of understand how people build wealth,

1658
01:16:31.439 --> 01:16:33.840
how they truly build it. It's usually not because they're

1659
01:16:34.319 --> 01:16:36.520
making a lot and spending a lot, they're saving it.

1660
01:16:37.119 --> 01:16:39.760
Yeah, a lot of it comes from the most successful

1661
01:16:39.800 --> 01:16:43.399
clients we've seen through their working years are disciplined investors.

1662
01:16:43.640 --> 01:16:45.279
They started their four O one K early on in

1663
01:16:45.359 --> 01:16:49.000
their career, which starting early if you have grandkids out there,

1664
01:16:49.000 --> 01:16:51.079
if you have kids out there, or if you were young,

1665
01:16:51.159 --> 01:16:54.560
like under forty, start investing if you haven't already, because

1666
01:16:54.600 --> 01:16:58.520
the power of compounding is huge and time is your

1667
01:16:58.520 --> 01:17:01.279
best friend. You can't get time back if you start

1668
01:17:01.279 --> 01:17:04.079
investing late. Obviously, you should start investing right away if

1669
01:17:04.159 --> 01:17:06.560
you haven't started yet, but if you're young, take advantage

1670
01:17:06.560 --> 01:17:08.720
of it, take advantage of the time. Start with little

1671
01:17:08.760 --> 01:17:11.479
amounts and then that'll gradually get bigger and bigger, and

1672
01:17:11.479 --> 01:17:14.520
the next thing, you know, the last couple compounding doubles

1673
01:17:14.880 --> 01:17:17.880
that happened every six, seven, eight years will be huge

1674
01:17:17.920 --> 01:17:18.640
when you retire.

1675
01:17:19.600 --> 01:17:21.279
I love talking to my kids. You know, when that

1676
01:17:21.279 --> 01:17:23.680
whole Starbucks theory came out, I was like, if you

1677
01:17:23.880 --> 01:17:26.119
didn't get if you've got a Starbucks every day and

1678
01:17:26.159 --> 01:17:28.399
then you didn't get it, what that money could do.

1679
01:17:28.560 --> 01:17:31.640
And you know, ten years and twenty years they did

1680
01:17:31.680 --> 01:17:34.920
not believe it. One like that is not true because

1681
01:17:34.960 --> 01:17:36.720
to them it's like, oh, what's what's a five dollar

1682
01:17:36.840 --> 01:17:38.880
coffee you drink? Chris, what is it? Seven dollars?

1683
01:17:39.359 --> 01:17:39.520
Yeah?

1684
01:17:39.560 --> 01:17:42.399
Dovery what I would say, I'm dating myself, but but

1685
01:17:42.479 --> 01:17:45.479
it is it's amazing if you have that leeway, that

1686
01:17:45.640 --> 01:17:47.880
time span, what that could do for you, what your

1687
01:17:47.920 --> 01:17:48.319
money can do.

1688
01:17:48.399 --> 01:17:48.479
Well.

1689
01:17:48.520 --> 01:17:50.479
There's always a good example too. There's a story where

1690
01:17:50.479 --> 01:17:52.760
it's there you got two people. They're both twenty years old.

1691
01:17:52.800 --> 01:17:55.520
The one person puts in first, and a puts in,

1692
01:17:55.920 --> 01:17:58.520
say five thousand dollars a year for the next ten years.

1693
01:17:58.520 --> 01:18:01.119
They stop at age thirty, never put in money again,

1694
01:18:01.239 --> 01:18:03.880
and they're four to one k. This other person doesn't

1695
01:18:03.880 --> 01:18:06.199
start till age thirty. Then they put in five thousand

1696
01:18:06.199 --> 01:18:08.600
dollars a year up until age sixty. Then they're both sixty.

1697
01:18:08.840 --> 01:18:11.199
Who do you think has more money in their retirement account.

1698
01:18:12.479 --> 01:18:15.600
This is a trick question, the one that started the

1699
01:18:15.840 --> 01:18:18.880
person because I know.

1700
01:18:18.880 --> 01:18:21.520
But you're looking don't because they're like, well, the person

1701
01:18:21.560 --> 01:18:24.119
be put in for thirty years, but they person a

1702
01:18:24.199 --> 01:18:26.520
did it so much earlier that that money that they

1703
01:18:26.520 --> 01:18:28.960
put in when they were twenty twenty one is doubling,

1704
01:18:29.199 --> 01:18:32.199
is growing. It's been growing ten years longer than they starting.

1705
01:18:32.520 --> 01:18:35.000
So if you have the time, it helps a lot.

1706
01:18:35.800 --> 01:18:38.399
But that being said, if you're just getting to this

1707
01:18:38.479 --> 01:18:41.279
later in life, it's never too late. And I would

1708
01:18:41.319 --> 01:18:44.680
really love to know if I'm getting approaching my retirement years,

1709
01:18:44.720 --> 01:18:47.399
if I'm on the right track, versus getting there and

1710
01:18:47.439 --> 01:18:48.680
then having an opsie moment.

1711
01:18:49.000 --> 01:18:50.319
Exactly. Yeah, it's never too late.

1712
01:18:50.359 --> 01:18:52.560
We're talking about the advantages of starting early, but obviously

1713
01:18:52.560 --> 01:18:54.159
it's never too late to do it. And they have

1714
01:18:54.199 --> 01:18:58.079
different provisions. Especially if you're working, you can save more.

1715
01:18:58.079 --> 01:18:58.760
You're making more.

1716
01:18:58.680 --> 01:19:01.239
Money most likely in your fifty and sixties before you retire,

1717
01:19:01.479 --> 01:19:02.640
so you're able to save more.

1718
01:19:02.680 --> 01:19:05.079
And they let the four to one case. I raise

1719
01:19:05.119 --> 01:19:06.600
you all have these ketchup.

1720
01:19:06.279 --> 01:19:10.279
Provisions, which are they increase periodically annually and you can

1721
01:19:10.279 --> 01:19:10.760
put more.

1722
01:19:10.680 --> 01:19:13.640
Weight, so there are ways to save more.

1723
01:19:13.800 --> 01:19:15.520
Do people ever have the fear that they don't have

1724
01:19:15.600 --> 01:19:17.520
enough to come even talk to you? You know that

1725
01:19:17.560 --> 01:19:19.800
they how do they feel? Word? They don't want to?

1726
01:19:20.239 --> 01:19:22.560
There's definitely the fear of that, because actually I don't

1727
01:19:22.560 --> 01:19:24.560
know if there's so much a fear, but it's just

1728
01:19:24.600 --> 01:19:26.399
it's an idea. They say, Okay, I don't have a

1729
01:19:26.439 --> 01:19:28.000
million dollars, I don't have five minute that doll even

1730
01:19:28.000 --> 01:19:29.760
I have one hundred, I don't think I can come

1731
01:19:29.760 --> 01:19:31.359
talk to you. Let me get to that point yet.

1732
01:19:31.359 --> 01:19:33.840
And that's where we were like, we don't have minimums

1733
01:19:33.880 --> 01:19:36.439
for a reason. We have models that we built up

1734
01:19:36.560 --> 01:19:38.920
through the years that allow us to invest any amount

1735
01:19:38.920 --> 01:19:42.880
of money and more cost effectively if it's a smaller amount, obviously,

1736
01:19:42.920 --> 01:19:44.359
and then we can get more complex as.

1737
01:19:44.359 --> 01:19:45.079
They get bigger.

1738
01:19:45.239 --> 01:19:47.119
But the idea is we have these models that you

1739
01:19:47.119 --> 01:19:48.840
can just start investing, because what I was just saying

1740
01:19:48.920 --> 01:19:50.880
is you just want to get going, because once you

1741
01:19:50.920 --> 01:19:53.720
have your feet wet in the markets, you're more likely

1742
01:19:53.760 --> 01:19:56.199
to keep doing it rather than waiting, waiting, waiting. What

1743
01:19:56.359 --> 01:19:58.319
is and you can get more of a grasp on

1744
01:19:58.359 --> 01:19:58.920
what's going on.

1745
01:19:59.199 --> 01:20:00.880
So if you're sitting on this and you haven't had

1746
01:20:00.880 --> 01:20:04.159
this conversation with your financial advisor, or you have an

1747
01:20:04.199 --> 01:20:07.479
advisor and he's not prepared to get you through retirement,

1748
01:20:07.520 --> 01:20:10.560
this is definitely a time to revisit that with a

1749
01:20:10.640 --> 01:20:14.439
complimentary financial plan that could otherwise be costing you thousands

1750
01:20:14.479 --> 01:20:16.199
of dollars. It's a way to find out if you're

1751
01:20:16.199 --> 01:20:18.000
on the right track to getting to where you want

1752
01:20:18.000 --> 01:20:20.720
to be to enjoy that special time of life. That

1753
01:20:20.760 --> 01:20:22.880
phone number is five two zero five four four four

1754
01:20:22.960 --> 01:20:25.119
nine zero nine. We'll take a quick commercial break and

1755
01:20:25.119 --> 01:20:28.680
we'll come back and talk more about your money matters. Hello,

1756
01:20:28.720 --> 01:20:31.319
and welcome back to Money Matters. I'm Sarah Peterson here

1757
01:20:31.359 --> 01:20:34.600
with Tean Greenberg and Dylan Greenberg, and we're talking about

1758
01:20:34.640 --> 01:20:38.319
this crazy world we live in and how to navigate

1759
01:20:39.079 --> 01:20:42.159
our own financial freedom. Going into retirement and having a

1760
01:20:42.159 --> 01:20:45.319
financial plan is a number one. So let's talk about

1761
01:20:45.319 --> 01:20:48.399
this process. Because when I hear financial plan, I'm thinking, Okay,

1762
01:20:48.439 --> 01:20:50.800
I have plans. I want to sit on a beach

1763
01:20:50.880 --> 01:20:52.520
and drink a margarita. That's my plan.

1764
01:20:52.840 --> 01:20:57.880
Well, now, Rochester starts with them. The process starts with

1765
01:20:57.920 --> 01:21:01.159
them realizing that chicked this out. Let me see what

1766
01:21:01.199 --> 01:21:03.479
this is about. I've heard about financial planning. How will

1767
01:21:03.520 --> 01:21:05.920
it help me? You don't know until you go talk

1768
01:21:05.960 --> 01:21:08.720
to someone. So what they do is they call us,

1769
01:21:08.760 --> 01:21:11.800
We set an appointment, We send them a nice email

1770
01:21:12.199 --> 01:21:14.880
telling them these are the things we need. We start

1771
01:21:14.920 --> 01:21:18.960
putting a plan together, and they come in and we

1772
01:21:19.000 --> 01:21:21.119
sit down and want to take about it hour Dylan

1773
01:21:21.960 --> 01:21:25.319
on the first meeting and get to know them, what

1774
01:21:25.399 --> 01:21:28.039
their goals are, what they want. You kind of get

1775
01:21:28.039 --> 01:21:30.439
a feel of how they like to invest. But it's

1776
01:21:30.439 --> 01:21:31.840
a lot of a lot of getting to know each

1777
01:21:31.880 --> 01:21:34.680
other and talking, and then you put the thing together,

1778
01:21:35.159 --> 01:21:37.520
the plan, and you put it all together, and I'll

1779
01:21:37.600 --> 01:21:39.239
let Dylan tell you what goes from there. In that

1780
01:21:39.359 --> 01:21:41.560
secret room when they're there and I'm not in that room.

1781
01:21:41.359 --> 01:21:46.359
With them, it's our court.

1782
01:21:47.159 --> 01:21:48.199
It's made it sound all week.

1783
01:21:48.439 --> 01:21:51.239
We have our conference room where and the reason we

1784
01:21:51.279 --> 01:21:53.039
did this is because we have the laptop hooked up

1785
01:21:53.039 --> 01:21:55.880
to a TV, so when we're meeting with our clients,

1786
01:21:55.920 --> 01:21:58.760
we can show them everything real time, what we're looking at,

1787
01:21:58.920 --> 01:22:00.439
instead of them just looking at the back.

1788
01:22:00.239 --> 01:22:02.840
Of our computer. Yeah, and just believing what we're putting.

1789
01:22:02.880 --> 01:22:05.720
We're showing it on the TV, and the plan gives

1790
01:22:05.760 --> 01:22:08.760
you ways to show them real time, like how would

1791
01:22:09.279 --> 01:22:11.159
how would this affect my plan? If I was more

1792
01:22:11.159 --> 01:22:13.960
aggressive in investing, would this help? Would it not help?

1793
01:22:14.119 --> 01:22:16.760
What about being more conservative? And then a big one

1794
01:22:17.079 --> 01:22:19.600
is social security. It's always that question is it going

1795
01:22:19.680 --> 01:22:21.279
to be here when I retire? Is it going to

1796
01:22:21.319 --> 01:22:23.800
stay there? Especially with people taking it now, they're saying

1797
01:22:23.840 --> 01:22:26.439
is it going to stay there? I don't know, nobody knows,

1798
01:22:26.479 --> 01:22:28.880
but we have the tool to show you what impact

1799
01:22:29.000 --> 01:22:31.479
what that would impact your plan, how that would if

1800
01:22:31.720 --> 01:22:32.399
it was a twenty.

1801
01:22:32.199 --> 01:22:34.319
Five percent age that you choose to do it out

1802
01:22:34.800 --> 01:22:35.479
that well, we have.

1803
01:22:35.479 --> 01:22:39.000
That too, the Social Security Optimization Tool, where it gives

1804
01:22:39.079 --> 01:22:42.159
us an idea of what age through the numbers is

1805
01:22:42.199 --> 01:22:43.520
the best time to take it for you.

1806
01:22:43.600 --> 01:22:44.760
Obviously that's one.

1807
01:22:44.760 --> 01:22:46.720
Aspect of it, the economic side, and then the other

1808
01:22:46.760 --> 01:22:49.439
aspect's emotional. Some people say, I'm retiring at sixty two,

1809
01:22:49.680 --> 01:22:51.680
I'm never working again. I'm taking the money that I

1810
01:22:51.680 --> 01:22:53.600
gave to the government and they are going to give

1811
01:22:53.600 --> 01:22:56.079
it to me. Other people say, okay, I'm going to

1812
01:22:56.159 --> 01:22:58.439
retire at sixty two. I might get another job, I

1813
01:22:58.520 --> 01:22:59.279
might go part time.

1814
01:22:59.319 --> 01:23:00.000
I don't know yet.

1815
01:23:00.279 --> 01:23:02.159
So in that sense, you might want to wait till

1816
01:23:02.159 --> 01:23:05.720
a sixty seven right now for full time retirement and

1817
01:23:05.880 --> 01:23:08.520
your full retirement age, which is going to be sixty

1818
01:23:08.560 --> 01:23:11.399
six and ten months anywhere to sixty seven, because then

1819
01:23:11.439 --> 01:23:14.159
if you take it before your full retirement age and

1820
01:23:14.199 --> 01:23:17.119
you're working and you make above roughly twenty three thousand dollars,

1821
01:23:17.159 --> 01:23:19.840
you're going to start getting penalized and you'll take half

1822
01:23:19.840 --> 01:23:21.520
of your Social Security back through taxes.

1823
01:23:21.800 --> 01:23:22.720
So you don't want to take it.

1824
01:23:22.960 --> 01:23:24.680
But if you're not going to put pay anymore, or

1825
01:23:24.720 --> 01:23:26.439
if you're not going to work anymore, then you might

1826
01:23:26.479 --> 01:23:28.199
want to take it. And those are all different scenarios

1827
01:23:28.239 --> 01:23:30.560
that we go through with our client in the time

1828
01:23:30.600 --> 01:23:32.439
and see what their goals, and that helps us learn

1829
01:23:32.439 --> 01:23:33.399
about our client more.

1830
01:23:34.319 --> 01:23:34.439
Well.

1831
01:23:34.479 --> 01:23:37.279
Yeah, and like I've said before, another shows I am

1832
01:23:37.319 --> 01:23:41.079
so intimidated by that Social Security website and the secure

1833
01:23:41.399 --> 01:23:43.439
the book is so no one's reading that, no one

1834
01:23:43.520 --> 01:23:46.600
knows where to start. So it's so valuable to have

1835
01:23:46.640 --> 01:23:48.079
somebody who can give you those answers.

1836
01:23:48.279 --> 01:23:50.560
Yeah, And another nice one that we have is inflation?

1837
01:23:50.920 --> 01:23:53.399
If is inflation going to be high forever? What will

1838
01:23:53.399 --> 01:23:55.960
that do to my plan? If it is stays, If

1839
01:23:55.960 --> 01:23:57.840
it goes back to five percent and stays there forever,

1840
01:23:57.880 --> 01:24:00.039
how will that impact my plan that I'm trying to

1841
01:24:00.079 --> 01:24:02.439
get income from now that I'm retired, So we can

1842
01:24:02.439 --> 01:24:04.680
show them that and what the impact is. Or if

1843
01:24:04.720 --> 01:24:07.680
they cut social Security by twenty five percent, inflation goes

1844
01:24:07.720 --> 01:24:09.479
up by five percent of day is or what will

1845
01:24:09.520 --> 01:24:11.880
that do? All those different scenarios, all the little questions

1846
01:24:11.960 --> 01:24:14.760
you have in your head constantly, they never really have answered.

1847
01:24:14.800 --> 01:24:17.079
We have the tools to help answer those questions, and

1848
01:24:17.159 --> 01:24:19.359
most of the time, probably ninety five plus percent of

1849
01:24:19.439 --> 01:24:21.880
the time, it eases your mind because it's not as

1850
01:24:21.880 --> 01:24:22.439
bad as you will.

1851
01:24:22.479 --> 01:24:24.279
You hope is that most of those things don't happen.

1852
01:24:25.079 --> 01:24:26.880
I caught that. I didn't know. I thought you were

1853
01:24:26.880 --> 01:24:28.960
a lot younger. But we'll go with what you said.

1854
01:24:30.119 --> 01:24:32.439
Do you think you'll have social Security when you get

1855
01:24:32.439 --> 01:24:33.800
to sixty seven, sixty.

1856
01:24:33.479 --> 01:24:38.840
Eight in all those years from now? I mean, it's doubtful.

1857
01:24:39.119 --> 01:24:41.199
Okay, this is my point.

1858
01:24:41.840 --> 01:24:44.239
Everyone thinks they might not get it there, but they're

1859
01:24:44.239 --> 01:24:46.479
all upset that we're trying to fix it.

1860
01:24:46.920 --> 01:24:48.840
Oh, we're going to take it away if we don't

1861
01:24:48.880 --> 01:24:49.359
fix it.

1862
01:24:50.039 --> 01:24:52.640
What you say at your age and people younger than you,

1863
01:24:53.079 --> 01:24:54.279
it's going to come to fruition.

1864
01:24:54.920 --> 01:24:56.039
It has to be fixed.

1865
01:24:56.199 --> 01:24:58.319
So I'm tired of listening people tell us we can't

1866
01:24:58.359 --> 01:25:01.079
fix it or don't want to fix it. There's a solution,

1867
01:25:01.800 --> 01:25:04.560
and it's not just taxing people that make more money

1868
01:25:04.760 --> 01:25:06.800
just to pay for everyone. Then why get solid security

1869
01:25:06.800 --> 01:25:07.319
out at all?

1870
01:25:07.560 --> 01:25:08.199
You know what I'm saying.

1871
01:25:08.520 --> 01:25:11.159
So at the end of the day, your answer is correct,

1872
01:25:11.279 --> 01:25:14.760
you're not sure, but that's like twenty somebody years away.

1873
01:25:15.079 --> 01:25:18.680
You think about people that are thirty years away. So

1874
01:25:18.720 --> 01:25:20.319
at the end of the day, you keep putting money

1875
01:25:20.319 --> 01:25:22.479
in and putting money in, and your husband keeps putting

1876
01:25:22.479 --> 01:25:25.479
money in. If we don't fix it, you're right, it

1877
01:25:25.479 --> 01:25:26.000
won't pay that.

1878
01:25:26.119 --> 01:25:29.600
The next generation is way more worried about if they're

1879
01:25:29.640 --> 01:25:31.520
ever going to be able to forid a house. They're

1880
01:25:31.560 --> 01:25:34.319
looking so short term because they can't even think about

1881
01:25:34.479 --> 01:25:36.720
if they're gonna have social security right where they're living.

1882
01:25:36.920 --> 01:25:39.000
Okay, but if we don't fix SoC security, who's gonna

1883
01:25:39.000 --> 01:25:41.279
pay you social security? The young people, they're going to

1884
01:25:41.319 --> 01:25:44.359
be taxed more. Okay, they taxed more. It's harder for

1885
01:25:44.399 --> 01:25:46.560
them to live. If they don't have to pay into

1886
01:25:46.600 --> 01:25:50.359
your Social Security and only their own, guess what, they're

1887
01:25:50.359 --> 01:25:51.760
gonna be much better shape.

1888
01:25:52.399 --> 01:25:54.359
Yeah, I mean we tell people, I've been told my

1889
01:25:54.399 --> 01:25:56.479
whole life that don't expect to have sold scurity when

1890
01:25:56.479 --> 01:25:56.920
you retire.

1891
01:25:57.319 --> 01:25:59.199
It was never supposed to last forever.

1892
01:25:59.279 --> 01:26:01.279
It was put in play back in the forties or

1893
01:26:01.279 --> 01:26:04.239
the thirties just to help supplement people when they retired.

1894
01:26:04.279 --> 01:26:06.840
But they weren't living twenty thirty years after retirement.

1895
01:26:06.920 --> 01:26:08.960
Yeah, it was probably until they get to sixty six.

1896
01:26:08.840 --> 01:26:10.680
Or about ten years or so. So it was a

1897
01:26:10.720 --> 01:26:12.319
lot different back then when this came out. And I

1898
01:26:12.319 --> 01:26:15.800
mean now social Security is insolvent. It is just he's

1899
01:26:15.800 --> 01:26:18.680
getting paid his Social Security. I'm paying into Social Security,

1900
01:26:18.760 --> 01:26:20.479
but we have more people taking from it than putting

1901
01:26:20.479 --> 01:26:22.279
into it. So eventually, yeah, it's going to go billy

1902
01:26:22.359 --> 01:26:23.960
up in a sense that you don't know what's going

1903
01:26:24.039 --> 01:26:26.319
to happen with this. So try and put your retirement

1904
01:26:26.319 --> 01:26:29.479
is your own hands by investing in your roth iray

1905
01:26:29.479 --> 01:26:31.720
a traditional iray a four oh one k wroth four

1906
01:26:31.720 --> 01:26:33.399
o one K and the ROTH part means that it's

1907
01:26:33.520 --> 01:26:36.159
after tax money is post tax is put in, you

1908
01:26:36.279 --> 01:26:38.399
never get taxed on it again. So all those games

1909
01:26:38.439 --> 01:26:40.159
you make at your ROW four o one K until

1910
01:26:40.159 --> 01:26:41.840
you retire are going to be tax free when you

1911
01:26:41.880 --> 01:26:43.720
take it out, which is a lot better than the

1912
01:26:43.760 --> 01:26:45.279
traditional four to one K because if you both have

1913
01:26:45.319 --> 01:26:46.640
a million dollars in both of them.

1914
01:26:46.840 --> 01:26:48.560
In reality, your traditional.

1915
01:26:48.159 --> 01:26:49.800
Four to one K is going to be anywhere from

1916
01:26:49.800 --> 01:26:52.560
seven hundred to eight hundred thousand dollars total. Your million

1917
01:26:52.560 --> 01:26:53.920
dollars in your ROTH four one K is going to

1918
01:26:53.920 --> 01:26:56.880
be a million dollars. So something that's become more popular

1919
01:26:56.920 --> 01:26:58.760
among big corporations as well in the last few years.

1920
01:26:58.840 --> 01:27:00.079
So if you do have that offer, you want to

1921
01:27:00.159 --> 01:27:00.640
invest in.

1922
01:27:00.560 --> 01:27:02.439
That oh one hundred percent. And also when you get

1923
01:27:02.439 --> 01:27:03.840
a four oh one K, I feel like they hind

1924
01:27:03.880 --> 01:27:05.880
it to you and you have no idea what you're

1925
01:27:05.880 --> 01:27:07.079
invested in or what's going on.

1926
01:27:07.439 --> 01:27:10.319
Yeah, and it's no fault of the companies. They're not

1927
01:27:10.359 --> 01:27:11.720
able to tell the workers.

1928
01:27:11.880 --> 01:27:12.600
They're just here.

1929
01:27:12.640 --> 01:27:15.279
You go enrolling it and then here's an idea of

1930
01:27:15.319 --> 01:27:16.439
if you're in there, and that's why they have the

1931
01:27:16.439 --> 01:27:19.479
target funds and everything like that, but they're never as aggressive.

1932
01:27:19.119 --> 01:27:19.680
As you should be.

1933
01:27:20.039 --> 01:27:21.560
If you're young, you want to be aggresive because you

1934
01:27:21.560 --> 01:27:23.000
got time on your side. You have time to weather

1935
01:27:23.039 --> 01:27:25.319
the storm. Well, you have time. If you were twenty

1936
01:27:25.359 --> 01:27:26.840
one and you just start in the workforce back in

1937
01:27:26.880 --> 01:27:29.800
two thousand, right before that dot com bubble, you would

1938
01:27:29.800 --> 01:27:31.560
have weathered the storm of that three years down market,

1939
01:27:31.640 --> 01:27:34.640
then two thousand and eight, then twenty twenty and twenty eighteen.

1940
01:27:34.760 --> 01:27:35.880
That December twenty two.

1941
01:27:35.960 --> 01:27:37.680
Bad for all those people retiring in two thousands.

1942
01:27:37.760 --> 01:27:39.920
Terrible timing. But you can take advantage of what's going

1943
01:27:39.920 --> 01:27:40.439
to happen.

1944
01:27:40.239 --> 01:27:43.159
Out of all this with changing education, giving them back

1945
01:27:43.199 --> 01:27:47.000
to the States. Maybe we'll get some financial literacy classes

1946
01:27:47.239 --> 01:27:50.520
starting in high school and in college and make sure

1947
01:27:50.560 --> 01:27:52.960
that people understand what to do. Because if you just

1948
01:27:53.079 --> 01:27:55.119
keep doing the same thing over and over again, and

1949
01:27:55.159 --> 01:27:57.279
then you become a parent, you don't know what to do,

1950
01:27:57.439 --> 01:27:59.199
and then you have children and they don't have parents

1951
01:27:59.199 --> 01:28:00.239
that know what to do, it.

1952
01:28:00.239 --> 01:28:01.119
Just keeps evolving.

1953
01:28:01.319 --> 01:28:05.279
How about stopping that and start educating so people.

1954
01:28:05.000 --> 01:28:07.800
Know all the classes that are now missing in their education,

1955
01:28:08.159 --> 01:28:10.600
all the classes that we loved most similar most from

1956
01:28:10.600 --> 01:28:13.159
like home, economics, like they don't have that anymore.

1957
01:28:13.359 --> 01:28:13.960
I did have that.

1958
01:28:14.079 --> 01:28:16.399
I actually you learn that.

1959
01:28:16.319 --> 01:28:19.560
And and I mean these are practical things, like I

1960
01:28:19.560 --> 01:28:21.680
mean so mean, yes, you can do those things in

1961
01:28:21.720 --> 01:28:23.760
the home, But I wonder why they took out everything

1962
01:28:23.760 --> 01:28:26.000
that was practical. And then my kids are doing like

1963
01:28:26.079 --> 01:28:29.800
super complex algebra that they'll probably never ever revisit again.

1964
01:28:29.880 --> 01:28:31.359
And I'm like, but yeah, you don't know how to

1965
01:28:31.359 --> 01:28:31.800
fry and eggs.

1966
01:28:31.800 --> 01:28:32.720
How about geography?

1967
01:28:33.359 --> 01:28:36.159
Yeah, kids, I don't know the difference between a country,

1968
01:28:36.359 --> 01:28:37.720
a state, a city.

1969
01:28:37.960 --> 01:28:40.079
They don't know what states are around each.

1970
01:28:40.000 --> 01:28:42.279
Other, they don't know what country itself.

1971
01:28:42.439 --> 01:28:44.680
Start a geography class on TikTok. It would go viral

1972
01:28:44.720 --> 01:28:47.880
and everybody would know everything where the news comes from

1973
01:28:48.279 --> 01:28:50.119
the reality is is that this is a good point though.

1974
01:28:50.239 --> 01:28:53.000
Look at all the different sources of media we're getting

1975
01:28:53.039 --> 01:28:55.399
right now. We're learning from all different directions, and most

1976
01:28:55.439 --> 01:28:58.239
of it's misinformation. So we need to bring it back

1977
01:28:58.279 --> 01:29:00.680
to what we do know and the truth that we

1978
01:29:00.720 --> 01:29:03.680
can plan with, because other than that, it's just creating

1979
01:29:03.680 --> 01:29:06.079
this fear factor like you were saying, and it's not healthy.

1980
01:29:06.439 --> 01:29:08.479
Yeah, exactly, And it's really just you got to figure

1981
01:29:08.479 --> 01:29:10.680
out what's going on in your situation, and then all

1982
01:29:10.720 --> 01:29:13.600
the outside noise that you think is affecting you might

1983
01:29:13.640 --> 01:29:14.760
not be affecting you as much.

1984
01:29:14.640 --> 01:29:17.079
Which is why whoever's listening on the other side this

1985
01:29:17.199 --> 01:29:19.000
screen needs to understand that if you don't have a

1986
01:29:19.000 --> 01:29:22.159
financial plan for retirement, if you've never had these conversations,

1987
01:29:22.279 --> 01:29:23.720
this is the time to do it. Because we can't

1988
01:29:23.760 --> 01:29:26.159
tell you how to invest your money. We can't tell

1989
01:29:26.159 --> 01:29:28.199
you what to do until we know everything about you.

1990
01:29:28.239 --> 01:29:30.560
We know the whole plan that's individualized for you. And

1991
01:29:30.560 --> 01:29:32.760
that's what I love about this. It's not some cookie

1992
01:29:32.800 --> 01:29:36.039
cutter thing. This is something personalized to you. So we're

1993
01:29:36.039 --> 01:29:37.560
going to take a quick commercial break and we'll come

1994
01:29:37.560 --> 01:29:39.880
back and talk more about your Money Matters. We'll see

1995
01:29:39.880 --> 01:29:42.560
you interview. Hello, and welcome back to Money Matters. I'm

1996
01:29:42.560 --> 01:29:45.680
Sarah Peterson here with Dean Greenberg and Villan Greenberg, and

1997
01:29:45.720 --> 01:29:48.520
we're talking about the importance of a financial plan. And

1998
01:29:48.560 --> 01:29:51.680
what I want to know is as you approach a retirement,

1999
01:29:51.760 --> 01:29:53.560
you get closer to that stage and you're sort of

2000
01:29:53.640 --> 01:29:56.239
taking risk off, Like, how do you find that balance?

2001
01:29:56.239 --> 01:29:58.439
Because I know when you're younger, you're so aggressively wanting

2002
01:29:58.439 --> 01:30:00.399
to invest and make money and make money. But then

2003
01:30:00.439 --> 01:30:02.399
you got to kind of pull back a little on that.

2004
01:30:02.560 --> 01:30:04.279
Yeah, like I was talking about last segment, how when

2005
01:30:04.279 --> 01:30:06.800
you're younger you can weather the storms. But then you mentioned, yeah,

2006
01:30:06.800 --> 01:30:09.199
I would hate to retire in two thousand because then

2007
01:30:09.199 --> 01:30:11.640
all of a sudden, you're living on that your money.

2008
01:30:12.239 --> 01:30:14.000
You got to be more conservative, and in that sense,

2009
01:30:14.079 --> 01:30:15.840
you got to be less in the stock market, the

2010
01:30:15.920 --> 01:30:19.039
equity market, and buy more bonds. That's the bond market.

2011
01:30:19.079 --> 01:30:21.640
The bond market is supposed to be the more stable market.

2012
01:30:21.680 --> 01:30:24.199
It's a lot bigger than the stock market. It has

2013
01:30:24.279 --> 01:30:26.720
bonds you can buy from individual companies from the US Treasury,

2014
01:30:26.720 --> 01:30:29.680
which is the safest investment you can do as long

2015
01:30:29.760 --> 01:30:31.680
as it can be. It is triple a raid and

2016
01:30:31.680 --> 01:30:33.239
that's just the best it can be. And then so

2017
01:30:33.279 --> 01:30:35.880
what it means is you buy an individual bond, you

2018
01:30:35.960 --> 01:30:38.520
hold it to maturity, you get your money back plus interest. Obviously,

2019
01:30:38.520 --> 01:30:40.920
the safer the bond is the less interest rate you

2020
01:30:40.960 --> 01:30:42.640
get on it. But you're not looking for so much

2021
01:30:43.319 --> 01:30:45.760
growth anymore. You're looking for stability. And a lot of

2022
01:30:45.760 --> 01:30:48.000
people that we work with who retire and start need

2023
01:30:48.039 --> 01:30:51.239
to live on their retirement accounts. We buy the individual

2024
01:30:51.239 --> 01:30:53.439
bonds for a bond ladder, which is say you buy

2025
01:30:53.439 --> 01:30:55.359
a one year bond and then a bond the matures

2026
01:30:55.359 --> 01:30:56.960
in two years, three years, four years.

2027
01:30:56.720 --> 01:30:57.399
And five years.

2028
01:30:57.720 --> 01:31:00.720
So we know that if markets tend late, markets tend

2029
01:31:00.760 --> 01:31:02.800
to go down one not of every four years or

2030
01:31:02.800 --> 01:31:05.039
so on average during that year. We don't have to

2031
01:31:05.079 --> 01:31:08.600
sell equity side the stock market side to raise cash

2032
01:31:08.720 --> 01:31:10.720
to send to you for your paycheck that you're taking

2033
01:31:10.720 --> 01:31:13.119
from your account. We have it ready already in individual

2034
01:31:13.159 --> 01:31:16.000
bonds and that have matured through the safety and the

2035
01:31:16.399 --> 01:31:19.640
stability side of it, and those are different than a BONDTF.

2036
01:31:19.720 --> 01:31:21.279
A lot of companies use bond ETFs.

2037
01:31:21.439 --> 01:31:23.760
The issue you run into the BONDITF is that you

2038
01:31:23.800 --> 01:31:26.159
can lose your principle. Like in twenty twenty two, the

2039
01:31:26.199 --> 01:31:28.880
markets the stock market went down roughly twenty two percent,

2040
01:31:29.119 --> 01:31:32.000
the bond market went down twenty six percent, because you're

2041
01:31:32.039 --> 01:31:34.720
losing because interest rates just went up. So then the

2042
01:31:34.800 --> 01:31:36.560
value of the bonds that are held within the bond

2043
01:31:36.560 --> 01:31:39.600
etf went like down a lot. So then all of

2044
01:31:39.600 --> 01:31:41.239
a sudden, your principle you put in one hundred dollars

2045
01:31:41.279 --> 01:31:43.560
in that bonditf is down thirty percent. You have seventy

2046
01:31:43.600 --> 01:31:46.840
dollars now, but you don't necessarily get that money back.

2047
01:31:47.079 --> 01:31:49.800
If you held this individual bond to maturity, say you

2048
01:31:49.840 --> 01:31:51.600
bought a one year bond and you have it, it

2049
01:31:51.640 --> 01:31:53.199
could be down because it straight go up, so the

2050
01:31:53.239 --> 01:31:55.640
value the bond goes down during that time. But if

2051
01:31:55.640 --> 01:31:58.079
you hold it to maturity, you'll get your principle back,

2052
01:31:58.079 --> 01:32:00.359
You'll get your hundred dollars back in the bond, and

2053
01:32:00.359 --> 01:32:02.239
then you'll get your interests on top of it. So

2054
01:32:02.479 --> 01:32:04.840
individual bonds are a little more stable, a little more

2055
01:32:04.840 --> 01:32:07.159
safe if you buy the good companies or you buy

2056
01:32:07.199 --> 01:32:10.079
the US Treasury. Obviously, if you hear the word junk bond,

2057
01:32:10.439 --> 01:32:12.159
the likelihood of them paid are a lot less, but

2058
01:32:12.199 --> 01:32:14.119
you get a higher interest rates. So there is risk

2059
01:32:14.199 --> 01:32:16.199
in the bond market, but it's supposed to be stable,

2060
01:32:16.399 --> 01:32:18.239
more stable, and that's one that you want to look

2061
01:32:18.279 --> 01:32:22.479
to out reallocate your account as you get closer to retirement.

2062
01:32:22.479 --> 01:32:24.680
You want to be able to have roughly the old

2063
01:32:24.720 --> 01:32:27.399
age thing is sixty forty sixty percent in equities, forty

2064
01:32:27.399 --> 01:32:29.319
percent in the bond market. But there's a lot of

2065
01:32:29.319 --> 01:32:31.560
different ways to get that allocation.

2066
01:32:32.079 --> 01:32:35.000
And do you change it when things are feeling like current?

2067
01:32:35.159 --> 01:32:36.760
Of course, yeah, can out the climate.

2068
01:32:36.800 --> 01:32:38.079
It just seems a little well.

2069
01:32:37.960 --> 01:32:39.760
That's what's a difficult. One of the things that we do.

2070
01:32:40.359 --> 01:32:42.680
We do the financial plan but we also manage the money.

2071
01:32:43.399 --> 01:32:45.840
I've been We started in this business in eighty eight

2072
01:32:45.920 --> 01:32:49.119
when I came to Tucson as a money manager, and

2073
01:32:49.199 --> 01:32:50.880
I put myself on the other side of the desk

2074
01:32:50.920 --> 01:32:52.880
and said, what do I want it as a client and

2075
01:32:52.920 --> 01:32:56.239
build my whole company around the same things I want

2076
01:32:56.279 --> 01:32:58.560
as a client that we can deliver as a as

2077
01:32:58.600 --> 01:33:02.000
a phone and as grown. We've kind of grown now

2078
01:33:02.039 --> 01:33:04.359
into a family office. And not only just family because

2079
01:33:04.399 --> 01:33:07.600
of father's son. I'm talking about family offices that are

2080
01:33:07.640 --> 01:33:14.760
able to offer financial planning, risk assessment, insurances, we're able

2081
01:33:14.800 --> 01:33:17.720
to give We're also able to do estate planning. We

2082
01:33:17.760 --> 01:33:20.920
have an attorney in the office, we'd have accounting associations

2083
01:33:20.920 --> 01:33:23.039
in the office with people, and we're able to grow.

2084
01:33:23.079 --> 01:33:25.920
So you come to us, we're all working towards what

2085
01:33:26.079 --> 01:33:28.800
you need as a person, and we all know you,

2086
01:33:29.079 --> 01:33:30.359
so you don't have to jump around.

2087
01:33:30.079 --> 01:33:31.800
The different things. If you don't need to. So we

2088
01:33:31.840 --> 01:33:33.159
have everything under one roof.

2089
01:33:33.359 --> 01:33:37.960
We handle obviously the money management, the financial planning, and

2090
01:33:38.000 --> 01:33:38.920
the risk assessments.

2091
01:33:39.239 --> 01:33:41.439
Yeah, but this way you know who's dealing with my say,

2092
01:33:41.560 --> 01:33:43.680
estate planning and different things, and so you guys can

2093
01:33:43.920 --> 01:33:46.960
work together and it feels like everyone's on the same page.

2094
01:33:47.000 --> 01:33:48.920
Well, they have to have the same idea we do.

2095
01:33:49.119 --> 01:33:52.479
Client comes first, Okay, give them a great value, work

2096
01:33:52.479 --> 01:33:54.439
with them, answer their questions, do the things that you

2097
01:33:54.479 --> 01:33:59.640
need to do in customer service. Nothing, there's nothing that

2098
01:33:59.720 --> 01:34:02.039
you can do to tell me that customer service shouldn't

2099
01:34:02.039 --> 01:34:04.920
come for us. It costs you nothing to have customer service.

2100
01:34:05.479 --> 01:34:08.000
Just answer the phone, talk to the people, deal with them,

2101
01:34:08.119 --> 01:34:11.560
get that question and answered. Don't delay that customer service.

2102
01:34:11.760 --> 01:34:13.359
If you do that, people shock today.

2103
01:34:13.520 --> 01:34:15.800
Yeah, I mean another thing of customer service helping people too,

2104
01:34:15.840 --> 01:34:17.840
And that's why we always with this financial plan.

2105
01:34:17.880 --> 01:34:18.399
It's free.

2106
01:34:19.199 --> 01:34:21.039
You don't get charge anything unless you open an account

2107
01:34:21.039 --> 01:34:22.319
with us to invest with us, and then it's the

2108
01:34:22.319 --> 01:34:24.640
whole fee structure. But leading up to that, if you

2109
01:34:24.640 --> 01:34:26.880
want the financial plan, we help you with it. We

2110
01:34:27.000 --> 01:34:28.800
give it to you as after the meeting. And then

2111
01:34:28.840 --> 01:34:30.000
if you never want to talk to us again.

2112
01:34:30.039 --> 01:34:30.640
You never have to.

2113
01:34:31.159 --> 01:34:32.960
But it's the idea of helping people and helping things.

2114
01:34:32.960 --> 01:34:34.880
And that's why we don't. We want to make it free.

2115
01:34:34.880 --> 01:34:37.159
We're not there to make it a burden to do it,

2116
01:34:37.279 --> 01:34:38.920
or scare people to come in, orre's a lot of money.

2117
01:34:38.920 --> 01:34:39.880
We just want to help people.

2118
01:34:40.119 --> 01:34:43.239
Well, all goes along with your team approach and your education,

2119
01:34:43.439 --> 01:34:45.720
your radio shows and all the things you guys do

2120
01:34:45.800 --> 01:34:49.760
your television giving people the education that I don't know

2121
01:34:49.760 --> 01:34:51.640
where else you get an education like that unless they

2122
01:34:51.680 --> 01:34:52.760
do bring it back into the school.

2123
01:34:53.039 --> 01:34:54.680
And more than any of that, just education. Sure, we

2124
01:34:54.720 --> 01:34:56.680
have all the education and all license and all light stuff.

2125
01:34:56.680 --> 01:35:00.239
And guess what, we've got a lot of experience. I've

2126
01:35:00.239 --> 01:35:03.279
been doing this a long time. Should you lease a car,

2127
01:35:03.319 --> 01:35:05.199
should you buy a car? What's the best way to

2128
01:35:05.239 --> 01:35:06.680
get your mortgage out.

2129
01:35:06.560 --> 01:35:06.920
Of the house.

2130
01:35:07.039 --> 01:35:09.520
We'll help all the clients with that without getting paid

2131
01:35:09.520 --> 01:35:11.520
for that. That's part of what we do as our

2132
01:35:11.560 --> 01:35:15.079
services as a family office to help people. Okay, we

2133
01:35:15.119 --> 01:35:18.039
get paid with the money that we that we invest

2134
01:35:18.079 --> 01:35:20.399
for you. Okay, better you do, the better we do.

2135
01:35:20.720 --> 01:35:23.159
The worse you do, the less we get. Okay, it's

2136
01:35:23.159 --> 01:35:25.239
a fee. All feed business. That's what we are, well

2137
01:35:25.239 --> 01:35:26.439
feed business.

2138
01:35:26.199 --> 01:35:28.560
Well, and we talked about this with the Trump presidency.

2139
01:35:28.560 --> 01:35:30.600
But you know, transparency is key right now. I think

2140
01:35:30.600 --> 01:35:33.279
everyone is just so leary about not knowing what's really

2141
01:35:33.279 --> 01:35:35.560
true or not, and so being transparent with people and

2142
01:35:35.600 --> 01:35:37.760
talking to them straight like you guys do and giving

2143
01:35:37.800 --> 01:35:41.520
them just really what everyone's looking for is the answers.

2144
01:35:41.720 --> 01:35:43.159
So there's one thing left to do, and why does

2145
01:35:43.239 --> 01:35:46.000
that Sarah pick up the phone.

2146
01:35:46.399 --> 01:35:48.039
Oh, I was going to say, go get a cup

2147
01:35:48.119 --> 01:35:52.479
of coffee. You have coffee. You told me you have coffee.

2148
01:35:52.520 --> 01:35:52.800
We do.

2149
01:35:53.000 --> 01:35:54.359
I don't drink coffee, so I don't know how good

2150
01:35:54.359 --> 01:35:54.520
it is.

2151
01:35:54.560 --> 01:35:56.439
Everyone said, great coffee.

2152
01:35:56.800 --> 01:35:58.479
Thank you so much for taking the time to be

2153
01:35:58.560 --> 01:36:00.560
with us. We hope that we educated you in a

2154
01:36:00.560 --> 01:36:03.479
way that is so difficult to get these days. This

2155
01:36:03.520 --> 01:36:05.640
phone number is five two zero five four four four

2156
01:36:05.720 --> 01:36:08.039
nine zero nine. Give Dian and Dylan a call and

2157
01:36:08.079 --> 01:36:10.760
this is a completely complimentary for taking the time to

2158
01:36:10.800 --> 01:36:12.359
be with us. So we hope to see you next time.

2159
01:36:12.439 --> 01:36:13.359
On your money matters.