The Stock Market Continues to Set Off Fireworks!

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Good morning everybody. This is Dean
Greenberg and this is the Money Matter Show.

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Hope you're having a great Fourth of
July weekend. You know, this

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is Independence weekend and it's one of
those times that you celebrate. And I'm

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not sure everybody understands what they're celebrating, and all you know, it's just

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and how we got here and why
we got here, because we wouldn't be

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in the situation of the conflicts and
talking and fighting in between and taking down

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statues and doing everything else if we
realized that it's all about history. And

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I just want to thank every one
of those people that took the risk of

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their lives so we can have our
independence and our freedoms in the past,

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in the present, and the future. We need people like that. We

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need heroes. We need people that
are willing to put their life on the

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line to keep America independent, free
and keep us as number one because we're

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doing everything possible to tear us down. Believe me, we see it every

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single day. Our politics, our
politicians. I don't know why or how

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they've gone so array, but they
have. Hopefully we can get some type

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of feeling of strengthening unity again.
But I don't think it's going to happen

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with if either one of these presidents
get in. Unfortunately, the way things

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sometimes come together is when somebody attacks
us and we come together as a family

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and we rise above it. And
who's going to be strong enough to do

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it? I don't know, but
I'll tell you for the market position right

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now, they keep marching on the
S and P and another two percent up

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for the for the week. That's
pretty good. S and P three and

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a half percent, The Dow is
up less than one percent, The Wrestle

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was down again, and the and
the UH and the equal weight that S

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and P five hundred was also down
a half a percent. That's a big

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difference. These big stocks just keep
moving forward and forward and forward. And

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the big question everybody keeps saying is
how much longer can they go? How

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much further can we go? Well, if you go back and listen to

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I don't know the last two,
three, four, five months, I've

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been telling you we have a bull
market rally here and it's going to continue

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through August. That doesn't mean you
got to be fully invested, doesn't mean

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you jump in with both feet,
but the indexes aware you have to have

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some money if you're not in some
of these individual stocks, because one they're

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easy to get into, too they're
easy to get out of, and three

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they're easy to manage tax wise.
The indexes will move up with the big

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stocks will move up. If it's
if it's, if it's uh, the

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four hundred other stocks that can help
it move or four hundred and fifty other

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stocks. The indexes move up.
Remember what happens. They get rid of

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the bad companies and they put in
new companies and that will always allow them

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to go up and make a new
high at some time and then don't have

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to come up with more money to
buy it like we do in a portfolios

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and things like that. So having
part of your portfolio and in the indexes,

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it's very important, especially in times
like this. They will outperform some

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of the equal weighted stuff that we
have, the other indexes you have.

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But there is going to be a
movement right now, and I see it

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happening. Then eventually that you're going
to see people come out of these big

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companies, these big, big big
stocks, big tech stocks, and they'll

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be a sell off at some time, but they do see it broading out

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later this year and into year.
Then you'll see money coming from large caps

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and going into mid cap and small
cap, and over time, those are

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the ones that will perform very,
very very well. So you asked where

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if I take money off the table, where to go. That's what I'm

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going to be looking for is etf
set are in mid cap, ETFs that

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are in small cap, and wait
that out when they outperform and move forward.

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Well, what's going to happen is
if the other indexes are going higher

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and those aren't it, Well,
you're gonna have to have some patience.

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But if you're doing the right way
of selling high and buy and low,

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that's how it makes sense. What's
going to create this problem or situation in

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the markets? Okay, everyone's waiting
for the next shooting for I agree.

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I look at the markets from an
outside position and say, how the heck

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are they keep going up? Why
they keep going up? There's so much

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stuff going on. How could that
happen? We got wars, we got

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open borders, we got high edge, we have all these things. We

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have inflation. But the markets keep
going higher, and I believe they will

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continue to do it because right now
there's a lot of money sitting on the

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sidelines and money markets are in a
good percentage. Yeah, five percent is

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great, except when you see these
other companies doing so great and you got

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a lot of money in bonds for
the first time, you got more money

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into being managed in bonds and money
markets and stuff like that than we do

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in actual stocks. So what you
see is what you're going to see is

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the opportunity on pullbacks for this money
to move from fixed income into the markets,

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and eventually, when they start lowing
fixed income, you're going to see

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that money come out of the short
term fixed income and move back into the

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markets because then they can start getting
dividends out of paying thing. So I

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think that any pullbacks of eight or
ten percent or more will be bought because

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as a lower on interest rates,
it should go higher unless there's some type

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of black swan event out there.
I do not see a complete crash that

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we've had in two thousand and one
and two thousand and eight. I think

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the benks wouldn't better position and things
are happening in the right direction. That

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doesn't mean you go crazy. Right
now. We're mitigating where we took off,

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a mitigation of risk. We're going
to start putting back on mitigation of

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risk. I said over fifty six
hundred and into August, so we got

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a few weeks to go and a
little bit higher to go. If that's

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going to be the case, it
seems like it will be. Why these

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semiconductors and off. You go back
and look in history, they usually top

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out some time in August, September, October, they moved down. November

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is a good time. December is
a good time to buy them back.

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Go book it, go look at
twenty two. Man, they got crushed

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during that period of time, and
twenty two is the time to pick them

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up. I hate to tell you
the video at that time time pre split

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from where it is today, would
have been at like ten dollars twelve bucks,

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okay, And then now it's one
hundred and summar dollars because it went

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up and it split ten for one
might even be less than that ten for

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one. It probably would have been
even less. But at the end of

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the time, if you looked at
it was one hundred and twenty and it

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went to twelve hundred, that's a
pretty good return, right, So it

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probably wasn't twelve dollars. It was
low and it's high now. All the

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semiconductors have don very very well.
It's all about AI were in that timeframe,

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just like we were back with the
smartphones, just like we were with

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the Internet, and just like we
were with computers. Big movements up for

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a three to five year period of
time. But just be careful because there's

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a lot of stuff out there.
Every time you put on a like they

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say dot com, they think those
stocks are gonna move and they're not.

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Something very important happened this week.
Jerome Powell, who was the Federal Reserve

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chairman, was interviewed with a whole
bunch of other people out I think it

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was a Portugal And obviously he was
showing they were trying to talk to him

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about interest rates and all. And
he didn't pinpoint of September or promise in

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September they're going to lower rates,
or promise in December they're going to lower

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rate. So how many rates they're
going to do, he said, it's

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going to be data dependable. Well, at the end of the day,

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he did say that he thought that
inflation was getting under control, things were

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happening in the right direction, and
are unemployments there and starting to become higher

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that they can see themselves law and
rate. So take it off the table

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that they're going to raise rates.
Are not doing that. We knew that.

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Are they going to lower rates.
I'm not sure they're going to do

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it in September. They could do
it after the election. They want to

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bring raids down. But remember if
they do that, it's going to stimulate

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the economy, and the fear will
be them what that we can bring back

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inflation pretty quickly, So it's going
to be a balancing act. But he

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said something else, and this is
so important to us going forward and getting

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the right people in under the administration. And right now, neither one,

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neither party, not one politician has
dwelled into this because it's basically toxics if

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you discuss how you're going to fix
it. And it was just a very

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short comment and nobody really picked up
on it, but it's hit me like

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a ton of bricks. He was
discussing the debt situation, and obviously he's

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not going to come out and be
political and say, oh, we have

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too much debt, or we have
this or that, but he said,

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our debt situation right now is manageable
with our GDP and our economy. However,

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if we don't get control of it, it is going to present a

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lot of problems to the United States
of America and our economy. To me,

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I'm reading into and say, well, hell, he's being soft shoed

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spoken there on this topic. But
it was so important the fact that he

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mentioned that he's concerned about our debt
and our deficit, but it's manageable now.

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But now down the road is we
better get our hands around it.

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The problem I have, and you
should have, and everybody that's living in

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America should have that cares about America
is what are we going to have a

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politician talk about the deficit and how
they're going to fix it? And the

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fact of the matter is, since
Clinton, nobody has fixed it. They've

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just spent money like drunken salers.
They've spent money to keep themselves in power,

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they spent money to get votes,
they have spent money on things that

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we don't need, and nobody has
called anyone to the carpet on it.

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I I it is such a big
thing when you're dealing with hundreds of billions

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and trillions of dollars that I'm sure
there's a lot of people making a lot

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of money underneath it because nobody is
watching the store. We've heard all those

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stories. How you you know that, you know, wrenches go for two

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thousand dollars and things like that,
and hmuntl who knows? I know this?

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We spent well it was going to
be eighty but sixty billion dollars we

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spent on new irs agents. How
about putting some of that money towards people

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that are going to control the spending
that we're doing in Washington and going ahead

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and looking at the inventories and who's
paying and what we're paying and how much

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we're paying things for. Why don't
we dwelve into that? And I promise

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you we can save hundreds of billions
of dollars on that. Where does the

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money go when we give it to
Ukraine and they say, well, it's

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not really going to Ukraine. They're
buying military supplies from us. What are

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we charging? What are we selling
it to? Why are we charging so

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much? Why don't we have to
give them tens of billions of dollars?

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And then it comes back here,
where's it going? And how much is

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it coming back to American workers?
No one follows the money we have no

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accountability until it blows up. We
need to have accountability from step one.

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We have a deficit problem. We
need someone in charge when they become president

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to discuss this, to tell us
how we're going to get it down.

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Every time we do, the other
side talks about how they want to take

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away social programs and take away Social
Security and take away Medicare. No nobody

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wants to do that because we know
it's a case. But we do want

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to lessen the burden of what people
need to be on over the years.

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In twenty to thirty years, we
should no longer have a social Security system

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the way it's set up. We
need to start keep making sure people are

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paid that are supposed to get paid
now, but somewhere along the line it's

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got to switch over where half the
money's going to Social Security, half the

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money's going to themselves to eventually everyone
has a Social Security account that both the

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employer and the employee puts into like
we do now for Medicare, for Social

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Security, and it goes into their
own account with restrictions. Of course,

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I've said this for the last twenty
some odd years. We would be there

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close now if we did it when
Clinton wanted to do it or Bush wanted

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to do it. They both had
plans to do this because they knew we

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have to do something at some time, but nobody in Washington wants to because

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that's their slush fund. That's where
they got able to grab money and put

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IOUs back into it. It is
something that needs to be looked at.

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All these social programs need to be
looked at. We need to streamline them.

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We need to get away. We'll
get rid of fraud. Medicare fraud

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is I mean, they find it
once in a while, but it's like

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drug busts. They find one is
huge, they don't find a thousand of

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them. There's got to be better
systems with today's technology and AI and every

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our system should be able to track
this stuff, should be able to see

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it and understand it. We can
save money. All they keep talking about

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is the lowering the deficit by not
spending as much of an increase each year.

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So in other words, if last
year we spent five trillion and normally

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we will go to seven trillion,
but they said no, we're gonna only

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go to six trillion this year.
They think they've cut the budget. They

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don't cut the budget they cut,
how much we will increase. There's a

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problem with that. Now we have
all these illegal immigrants that have come by

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that we are paying for, housing, food, shelter, medicare, medicine,

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you name it. How can we
do this? I know people say,

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well, you can't run the country
like a business. Well, yes

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you can. You should know where
all the money's going to. You need

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checks and balances. Then we can
start cutting the spending and cutting the deficit

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and getting ourselves more of a balanced
budget. We just say no. In

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your household when you have no more
money and their bills are there, and

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you start pulling from your savings.
When you run out of any more extra

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money, what do you do?
You try to stop spending before you get

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there. If you had an extra
twenty grand sitting there and now it's fifteen

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ten, you say, hey,
we got to stop spending, otherwise we're

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not going to have anything left.
You change your spending habits, and that

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is something we have to do now. One way we can do it is

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every time they have a bill,
may your bill that they push, we

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have to stop giving another whatever amount
of money giving away for everyone to say

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yes to that bill. Those are
bribes, the politicians that don't want to

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vote for the bill, but do
all these earmarks, all this pork,

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get rid of it. We do
not need to keep giving people money when

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we don't have it. In order
to go ahead and stay in power,

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we need someone that's strong enough and
lead enough along and smart enough on how

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to tell the American people. Just
like your home, just like your budget,

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just like your own expenses, we
as a country need to stop spending.

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These are where it's gonna happen.
It's gonna hurt some of these programs,

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but others will continue. We need
to do that. We have a

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country that's so worried about everything's going
on, but nobody's telling us the truth

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about anything. It is so evident
with this whole thing with Joe Biden.

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Ever since his night of debacle in
the debate where he just couldn't even stay

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up, you hear so many different
stories. He's sick, it's a jet

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lag, you know. You hear
that he was going to fall asleep.

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He tells people who knows what the
truth is, But I'm going to tell

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you what the real truth is.
We have been lied to as American people

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for the last three and a half
years, Joe Biden is not running the

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country, and nobody wants to tell
us who's running the country. And I

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wish that one of these media people, when they're asking all these questions,

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and some of them are good,
most of them are stupid, okay,

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asking these questions, why did someone
raise their hand and say who is running

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the country? Because of that night, we know our president Joe Biden is

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not running the country. And if
now everybody is against them and wants to

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get rid of him, why didn't
they do that last year the year before,

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or why did they put him in
as the candidate who is running the

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country? I want someone to raise
up and ask the question in the media

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and see what they say candidly when
he's talking. Now he's going to be

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on some of these candid conversations.
Have someone ask him, President Biden,

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it's obvious that someone's helping you.
Who is helping you make decisions running the

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country? Who's making those strings?
Who's pulling your strings? Is it your

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wife? Is it Obama? Is
it a committee? Is it the left?

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Who is making those decisions? Because
you're able to sit there and be

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emphatic when you can read, that
makes you look good. But when you

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have to think, and you have
to make decisions, and you have to

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talk like a president should with confidence, you're an empty shell. So who

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is running the country. Who's going
to tell us what happens when he goes

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to these meetings when they're at night
and doing things. Is he fall asleep?

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Is he coherent? Is he able
to make decisions or just sit there

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smile and hold someone's hand. These
are things we need to know. We've

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00:20:52.279 --> 00:20:57.400
been told lies after lies after lies
after lies after lies. The Press secretary

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is not even on the same page
as the rest of the people were The

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Democrats aren't even on the same page
as each other. And it's that to

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me, it's finally refreshing, because
what it's telling us is that Joe Biden

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is not running the country. But
nobody will tell us who he wants to

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stay in. He'ld demand to stay
in. And if he does stay in

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and you vote for him, shame
on you for putting him back in the

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same place he was. Shame on
you, Joe Biden, for standing your

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00:21:36.920 --> 00:21:41.400
husband up there and making him look
like a fool in his eighties, like

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he's a shell of himself. Shame
on you for power Democrats, but just

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putting someone up on there that cannot
talk. You can say whatever you want

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about Trump. Okay, he gets
himself in trouble because he says what's on

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his mind. Good better indifferent lies. They all talk about lives, what

259
00:22:03.599 --> 00:22:10.440
lies, exaggerations? Okay those lies
all right, by the lies, don't

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take them to the woodshed. It's
very difficult when you have so much on

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your mind trying to do what there
are going to be exaggerations. I get

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that on both sides. But at
the end of the day, who is

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running our country and we do not
know that, and that is a real

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problem. We assume we don't.
We have ideas, but we don't know

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who's running the country. At least
the Supreme Court can make decisions and don't

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have to go with what the left
always says they have to do in the

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clear cut. But boy does the
media in an uproar against the Supreme Court

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because they're not getting everything they want. The power of the Supreme Court is

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a supreme power. They are going
to make decisions based on what they think

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is law. Has anyone sat in
thought maybe the last thirty forty years when

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the leftist had controlled the Supreme Court, that maybe those decisions were wrong.

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Roe versus Wade was never put in
the law that could not ever go ahead

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and say and cudify it. Never
So who's fault is that after all these

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00:23:26.880 --> 00:23:30.559
years? So now it's in the
state. But they said it's a Supreme

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Court and they're trying to be this
other thing. Now, what they did

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was just saying, if you're doing
your job as president, you have immunity.

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So if you think about it,
the phone call that President Trump had

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that they wanted to go ahead and
impeach him on to Ukraine, that was

279
00:23:53.279 --> 00:23:59.799
legal, but they tried to impeach
him. But Biden, go ahead and

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00:23:59.839 --> 00:24:04.160
tell telling the Ukraine you're not going
to get the money unless you get the

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00:24:04.519 --> 00:24:10.880
person that's trying to go ahead,
the lawyer against us off and change them.

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You ain't getting the money. That's
not illegal. Think about it.

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We'll be back. It's the money
out of show. We need to get

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somebody in that can be really president
and help us, and it better be

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Trump this time. We'll be right
back. Thank you for listening. Welcome

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00:24:26.319 --> 00:24:30.119
back everybody. It's the money out
of show. On this fourth of July

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00:24:30.720 --> 00:24:37.039
weekend, Hope everyone's having a good
time barbecuing and all fireworks. They'll tell

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you we went to fireworks the other
night, did the same fireworks. Yeah,

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00:24:41.519 --> 00:24:45.000
it's kind of like a rodeo.
But it's fun to watch it through

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your kids. Not my kids,
my grandchildren. They loved it. It

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00:24:48.279 --> 00:24:52.279
was like, whoa, this is
the coolest thing in the world. Yeah.

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Then then they get older, then
you gotta worry about them playing with

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their aids and cherry bombs and firecrackers
and doing and boyto rocket fights. Well,

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there are some fireworks in the markets
this week, surprisingly being a shortened,

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supposed to be quiet week, but
the July Christmas rally is here for

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00:25:11.680 --> 00:25:14.039
sure. Seems like well, at
the end of the day, when you

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00:25:14.119 --> 00:25:15.880
don't have people here, the markets
can move in one direction and the other

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00:25:15.960 --> 00:25:21.720
very easily because you don't have a
lot of people participating. But when you

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say markets, we've talked all this
week where it's it's not really the market,

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it's seven stocks. It continues to
be dominated two, which we contend

301
00:25:33.319 --> 00:25:37.720
to say, and being driven by
a few stocks like it has been for

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00:25:37.720 --> 00:25:40.960
the last two years. Now.
It's on at right now the top ten

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00:25:41.240 --> 00:25:44.119
of the S and P five hundred, right, it's supposed to be five

304
00:25:44.200 --> 00:25:47.960
hundred companies. They're supposed to it's
supposed to represent, but right now only

305
00:25:48.079 --> 00:25:52.400
ten companies represent forty percent of that
index. But the finness Davidio didn't do

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00:25:52.440 --> 00:25:56.839
anything this week, No, it
was Amazon did. Apple was up seven

307
00:25:56.920 --> 00:26:02.640
percent, Google, Google will up
five, Meadow was up seven and then

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00:26:02.759 --> 00:26:06.599
who led the way this week?
Come on, Evie, who led the

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00:26:06.599 --> 00:26:11.599
way this week? Twenty seven percent
higher this week? That's a lot of

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00:26:11.599 --> 00:26:15.200
shortcoming none too. It has to
be, it has to be. It

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00:26:15.240 --> 00:26:21.279
was really weird. Well Fargo Well
on Monday, well far removed cask up

312
00:26:21.319 --> 00:26:26.279
from their tactical ideas. It was
great timing, right, Yeah, they

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00:26:26.279 --> 00:26:32.480
continued to rate the sack of buy
despite their concerns about declining deliveries. Now

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00:26:32.519 --> 00:26:37.960
Tuesday jumped to a six month high
after reporting delivery and declining anymore. Deliveries

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00:26:38.000 --> 00:26:42.000
worked substantially above the last last quarter. They were, and I think Dylan

316
00:26:42.119 --> 00:26:45.279
mentioned this to me that they were
above last quarter but still down year over

317
00:26:45.400 --> 00:26:49.279
year. The estimates were down five
percent over year. I could see that,

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00:26:49.400 --> 00:26:52.880
but like so they still beat estimates, but estimates were lower than they

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were last year and then a Carter
dot Com came out with didn't hurt the

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00:26:57.039 --> 00:27:02.319
rally at all. Card dot Com
came out with the report about which cars

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00:27:02.319 --> 00:27:06.079
that are made in America, you
know, the yeah cars to the labor

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00:27:06.160 --> 00:27:11.720
and the whole thing. The number
one American made car is the Testil model

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00:27:11.519 --> 00:27:15.880
that has the most American you know. All right, Well, I forgot

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00:27:15.920 --> 00:27:18.359
at the top to do what disclaimer, so I'd better do it now.

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00:27:21.160 --> 00:27:23.319
As you know, the show is
sponsored by Greenberg for an intial group,

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00:27:23.480 --> 00:27:27.160
Greenberg Financial Group. It's both the
registered investment advisory and a broken dealer.

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00:27:27.640 --> 00:27:32.119
On this show, we talked about
different products, different strategies, different ideas.

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00:27:32.480 --> 00:27:34.440
We always come up with things.
We all have our own opinions.

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00:27:34.880 --> 00:27:40.880
Everything has risk, and we highly
suggest you understand the risk prior to investing.

330
00:27:41.680 --> 00:27:45.960
And as these markets move higher,
your allocation risk, your individual stock

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00:27:47.079 --> 00:27:52.200
risk becomes greater and greater and greater. And I said in my monologue,

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00:27:52.279 --> 00:27:56.519
I still think we're gonna go over
fifty six hundred. I still think we

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00:27:56.559 --> 00:28:00.400
can rally through August. Take a
pause, see what happens in the election,

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00:28:02.599 --> 00:28:06.519
things go right wrong and different,
probably going to rally after that.

335
00:28:07.039 --> 00:28:12.400
The move from big, big stocks, large companies, large capitalization to mid

336
00:28:12.480 --> 00:28:18.720
cap to small cap. Is probably
not a bad way to take some money

337
00:28:18.799 --> 00:28:23.960
off the table and start looking out
a year from now, because eventually those

338
00:28:25.039 --> 00:28:27.279
are the companies that are going to
get the money flowing back into them.

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That doesn't say when it topped out. Could it top out in August?

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00:28:32.359 --> 00:28:33.519
Yeah, I could have top out
in September? Yes, could it could

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00:28:33.599 --> 00:28:37.279
come down and then go back up
and top out in December? Yes,

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00:28:37.839 --> 00:28:40.720
yeah, Like last year dropped quite
a bit and then had a huge rally

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00:28:40.759 --> 00:28:42.920
the last month and a half.
This what I'm thinking right now, though,

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Dave a lot is twenty two,
like for some reason, semiconductors and

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all have a problem, all have
a problem topping out somewhere in August September.

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Think about it, twenty two They
were so much higher and then they

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00:29:00.960 --> 00:29:07.440
started falling and falling and falling,
and you ended up seeing Amazon and Navidia

348
00:29:08.400 --> 00:29:14.680
and Google. They were all down
what from ninety five dollars all the way

349
00:29:14.759 --> 00:29:18.519
up to maybe one hundred and twenty
bucks Apple Apple got down to what one

350
00:29:18.599 --> 00:29:22.559
hundred and fifteen, one hundred and
twelve or something. They all came down,

351
00:29:22.640 --> 00:29:26.480
so be very careful guys, because
when that turns, it's gonna turn.

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00:29:26.960 --> 00:29:32.160
So you gotta so look at your
stock allocation right and say, okay,

353
00:29:32.200 --> 00:29:34.680
I don't want more than three percent, five ten percent, whatever it

354
00:29:34.720 --> 00:29:40.640
is in one stock and in August, well before August. You can do

355
00:29:40.640 --> 00:29:42.119
it now, but at some time
between now and the end of August,

356
00:29:42.640 --> 00:29:49.119
I would cut back that allocation.
And it's there's at that you get any

357
00:29:49.279 --> 00:29:55.400
anyone to cut back on in videos
like like volun Teeth, it really is.

358
00:29:55.680 --> 00:30:00.680
I mean, you need to rebalance
Nvidia back to your original I don't

359
00:30:00.720 --> 00:30:03.359
think so nobody wants to. And
it's like you try and tell them,

360
00:30:03.400 --> 00:30:06.319
like, you can't go broke taking
the profit. You're not going to sell

361
00:30:06.319 --> 00:30:08.640
it all. We're not saying take
one hundred percent off. But it's still

362
00:30:08.680 --> 00:30:12.480
hard to get them to wrap their
mind around selling anything. Oh and video

363
00:30:12.519 --> 00:30:17.480
is going to go higher forever.
Why would you want to keep relating it

364
00:30:17.519 --> 00:30:18.839
back to Tesla a few years ago, everybody said it was going to go

365
00:30:18.920 --> 00:30:23.400
higher forever, Tesla dropped back to
where it is now. We didn't talk

366
00:30:23.440 --> 00:30:26.640
about it, Scott, I'm sorry
we didn't talk about commadies. Oil was

367
00:30:26.720 --> 00:30:30.720
up a dollar seventy on the week
back to eighty three twenty wasn't that many

368
00:30:30.759 --> 00:30:37.079
weeks ago. It was down in
the low seventies gold it found that base

369
00:30:37.119 --> 00:30:40.960
around twenty three hundred and stayed there
and stayed there. This week it popped

370
00:30:41.000 --> 00:30:45.720
sixty bucks back to Almulost twenty four
hundred. I don't know what's driving gold,

371
00:30:45.839 --> 00:30:51.440
but something is, that's for sure. On the calendar next week,

372
00:30:51.480 --> 00:30:53.839
couple of things. We've got.
Thursday of next week we've got the CPI

373
00:30:55.079 --> 00:31:00.839
number, and then on Friday we
got the PPI number. Some get some

374
00:31:00.960 --> 00:31:03.079
rock and roll going on there.
So, Jylan, what are we going

375
00:31:03.160 --> 00:31:04.720
to do the second hour today?
Yeah, So in the second hour,

376
00:31:04.759 --> 00:31:08.160
we're gonna change things up a bit
just for this week in the sense that

377
00:31:08.279 --> 00:31:14.880
we're going to have more financial planning
talk on the second hour. We're gonna

378
00:31:14.880 --> 00:31:18.440
have two shows that we put on. They're gonna be a half hour.

379
00:31:18.480 --> 00:31:19.480
It is, it's gonna take up
the whole second hour. It's gonna be

380
00:31:19.480 --> 00:31:26.039
more about educational planning, financial planning, more macroeconomics ideas, not so much

381
00:31:26.119 --> 00:31:30.839
current events in that aspect, but
we're gonna be talking about the ins and

382
00:31:30.920 --> 00:31:33.200
outs of the financial plan of how
we operate the financial plan, more of

383
00:31:33.200 --> 00:31:37.160
our process that we do here,
which we've talked about every week, it'll

384
00:31:37.200 --> 00:31:40.920
go more into detail for the entire
hour. It'll be also a different style

385
00:31:41.000 --> 00:31:44.200
too, different style host. We
have the host, we have everything.

386
00:31:44.200 --> 00:31:47.559
We talk about social security and there
we talk about medicare, how it all

387
00:31:48.039 --> 00:31:49.640
comes back to your plan. Everything
goes back to your plan. So we'll

388
00:31:49.680 --> 00:31:55.480
be talking about all of that next
hour and those types of those the reports

389
00:31:55.519 --> 00:32:01.720
that resonate well with people, probably
exactly this helps the idea that it's just

390
00:32:01.720 --> 00:32:08.039
not curn events. Yeah. Yeah, I was telling the troops on Friday

391
00:32:08.079 --> 00:32:14.279
that China. Of course, we
know the Chinese real estate market is in

392
00:32:14.359 --> 00:32:21.599
a big bubble and it's not going
well, and the Chinese investors have decided

393
00:32:21.640 --> 00:32:24.839
that the place to put money is
in government bonds, and they've driven the

394
00:32:25.200 --> 00:32:30.720
interest rate on the Chinese ten year
bond to two point one percent, which

395
00:32:30.759 --> 00:32:37.359
is the lowest rate since they've been
keeping records. There's a lot of demand

396
00:32:37.400 --> 00:32:42.960
for Chinese government bond two point one
percent on the ten year and our ten

397
00:32:43.039 --> 00:32:47.880
years what for four point three roughly
something like that. Yeah, it didn't

398
00:32:47.920 --> 00:32:52.319
drop, it dropped this week too. Yeah, we still got the inverted

399
00:32:52.400 --> 00:32:58.359
yoko. But it's interesting because it
did pop up on Monday the rate and

400
00:32:58.400 --> 00:33:00.200
then just spent the rest of the
week drift teen lower. Yeah. Well,

401
00:33:00.279 --> 00:33:04.039
jobs came in hotter than expected,
yep, job creation, but then

402
00:33:04.359 --> 00:33:08.400
unemployment came in higher than expected,
which was a surprise to a lot of

403
00:33:08.400 --> 00:33:13.519
people. Barely it became in point
one percent higher than expected. But got

404
00:33:13.519 --> 00:33:15.920
to have a report on Friday with
two hundred and six two hundred and six

405
00:33:15.960 --> 00:33:20.720
thousand jobs created and four point one
percent year over year unemployment. Right,

406
00:33:20.960 --> 00:33:23.039
So that's a that's a good number
for the market. That's a good number

407
00:33:23.079 --> 00:33:27.160
for the Fed. Yeah, it
makes it FED happy. It makes it

408
00:33:27.240 --> 00:33:30.839
FED happy. It's coming in their
direction. Yeah. Well, a big

409
00:33:30.880 --> 00:33:36.039
portion of that job's creator was government
jobs. Seventy thousand jobs were created for

410
00:33:36.079 --> 00:33:38.599
the government, and then healthcare continues
to be up there with forty nine thousand

411
00:33:38.640 --> 00:33:43.559
created. I hate being the government
being the number one job created far.

412
00:33:45.000 --> 00:33:49.359
You know what the FED didn't like
and it was just a small thing.

413
00:33:49.359 --> 00:33:53.759
I talked about it my mom in
luck a deficit, Joan Powell said,

414
00:33:54.400 --> 00:34:00.839
And no one has really talked about
this. He's concerned about a deficit,

415
00:34:00.319 --> 00:34:06.039
not right now because he thinks it's
manageable, which is also known as yes,

416
00:34:06.079 --> 00:34:08.519
I'm very concerned now, but I
can't say that, but I'm concerned

417
00:34:08.599 --> 00:34:14.199
in the near future if we don't
come up with a plan to stop and

418
00:34:14.239 --> 00:34:17.360
bring it the other way and stop
growing on deficit. How about you stop

419
00:34:17.400 --> 00:34:24.239
it rising first, That's what he
was trying to say that he doesn't have

420
00:34:24.360 --> 00:34:29.880
any tactics to stop that. That's
not his that's not what he's supposed to

421
00:34:29.880 --> 00:34:34.679
do. But we never hear anyone
talk about it. No one asks questions

422
00:34:34.679 --> 00:34:39.320
about it, and nobody that's running
for president discusses what they're going to do

423
00:34:39.400 --> 00:34:44.480
to cut back the deficit eight under
pound gorilla that nobody wants to deal with.

424
00:34:44.760 --> 00:34:45.719
Well, they're going to have to
dave. It's going to come from

425
00:34:45.760 --> 00:34:52.000
social programs. You have to have
enough guts. And I'm hoping Trump gets

426
00:34:52.000 --> 00:34:54.760
in he will bring this up during
his four years and start trying to do

427
00:34:54.800 --> 00:34:59.360
something about it. Here's nothing to
lose. It will help it. He'll

428
00:34:59.360 --> 00:35:04.440
go down and history as the smartest
president if he gets that done. Because

429
00:35:04.599 --> 00:35:07.119
you know what in ten years,
twenty years, thirty years is what you

430
00:35:07.199 --> 00:35:10.000
got to start looking at. Everyone
looks out for the first year and a

431
00:35:10.039 --> 00:35:15.679
half two years to get reelected.
Then they get reelected, they look about

432
00:35:15.760 --> 00:35:22.199
how they keep themselves in power their
party, and nobody does anything for ten

433
00:35:22.239 --> 00:35:25.559
or twenty or thirty years down the
road. All right, listen, appreciate

434
00:35:25.599 --> 00:35:30.039
your listening. Hoping you're having a
great weekend. We'll be back in a

435
00:35:30.079 --> 00:35:36.079
minute or so to bring you another
segment of The Money Matter Show. Welcome

436
00:35:36.119 --> 00:35:38.679
back everybody to The Money Matter Show
with Dave, Dylan Todd, and myself

437
00:35:38.719 --> 00:35:42.599
Dean. We appreciate the fact that
you listen. If you ever have to

438
00:35:42.639 --> 00:35:46.039
go back in hear more, go
to our website as all our podcasts.

439
00:35:46.320 --> 00:35:51.599
Go to any place you get podcasts
and say I want to spend Money Matters

440
00:35:51.599 --> 00:35:55.239
with Dean Greenberg, you'll get it
all. We've been talking about the markets

441
00:35:55.679 --> 00:36:00.320
moving higher. I understand the moving
higher in the face of a lot of

442
00:36:00.360 --> 00:36:06.800
adversity, but I think you can
hold on a little bit longer. But

443
00:36:06.880 --> 00:36:08.880
you got to start looking on like
how you're gonna mitigate your risk over the

444
00:36:08.920 --> 00:36:14.760
next I would say maybe thirty to
forty five to sixty days. If you

445
00:36:14.840 --> 00:36:17.840
don't in the markets go down and
things get hurt and your big ones that

446
00:36:17.920 --> 00:36:22.079
you go, that's on you,
because we were telling you right now you

447
00:36:22.239 --> 00:36:27.000
have to learn how to mitigate risk. And if you don't, go talk

448
00:36:27.039 --> 00:36:30.480
to your advisor, and if they
can't help you, come talk to us.

449
00:36:31.360 --> 00:36:35.840
Yeah, and for those of you
just tuning in for the second hour,

450
00:36:35.880 --> 00:36:37.320
we are going to be talking more
about financial planning. It's not gonna

451
00:36:37.320 --> 00:36:42.079
be so much current events. We're
gonna go in depth about what we do

452
00:36:42.119 --> 00:36:44.840
in the financial planning process. We're
going to talk about social security. We're

453
00:36:44.840 --> 00:36:47.960
going to talk about Medicare. We're
going to talk about building an income out

454
00:36:47.960 --> 00:36:52.360
of your retirement assets during retirement and
how you do that through a financial plan

455
00:36:52.440 --> 00:36:57.000
and all the different aspects that come
into your plan, your unique plan.

456
00:36:57.159 --> 00:37:00.679
So tune in for that. It's
gonna be a little different than normal second

457
00:37:00.679 --> 00:37:06.000
hour on Sunday mornings. An interesting
idea that we saw this week on the

458
00:37:06.039 --> 00:37:12.199
retail AUM so his assets undernagement for
the retail investor market. Money market is

459
00:37:12.239 --> 00:37:15.360
at an all time high again,
we continue to see that, but it

460
00:37:15.400 --> 00:37:21.320
has now reached levels above the total
assets held under bond funds. So what

461
00:37:21.320 --> 00:37:25.400
you're actually seeing now is more money
in money market funds because they're essentially earning

462
00:37:25.440 --> 00:37:29.559
the same exact rate as bond funds
are now and they're come with a lot

463
00:37:29.639 --> 00:37:34.440
less risks with the whole interest rate
idea of things. So that's where predominantly

464
00:37:34.280 --> 00:37:37.480
we probably have. I mean,
actually, I don't know, what would

465
00:37:37.480 --> 00:37:39.320
you say, Dane, Probably fifty
to fifty. I mean we have a

466
00:37:39.320 --> 00:37:43.199
lot of money market fund as well. I mean we have a lot of

467
00:37:43.280 --> 00:37:46.880
Vanguard money market just sitting on the
sideline earning five percent while it does it.

468
00:37:47.159 --> 00:37:51.719
And for the most part, we
don't use bond funds. We used

469
00:37:51.760 --> 00:37:53.519
individual minds. Well now we do. We used to use bond funds back

470
00:37:53.599 --> 00:37:58.639
the day when the interest rates started
going higher, we realized long term bond

471
00:37:58.639 --> 00:38:00.840
funds should be short term bond fund
and then when they started going high,

472
00:38:00.880 --> 00:38:06.480
we realized short term bond fund should
now be money market fund And we do

473
00:38:06.519 --> 00:38:08.840
have et individual bond mutual fund mode
right now. We'll go back to the

474
00:38:08.880 --> 00:38:15.000
other way when we start coming down. It's the individual bond are the only

475
00:38:15.039 --> 00:38:19.559
way you can guarantee that you'll get
your principle back, the only way well,

476
00:38:19.599 --> 00:38:22.679
as long as the company is around. Unless you're the US government that's

477
00:38:22.800 --> 00:38:25.800
guaranteed. You can't necessarily guarantee a
corporate bond because of might going to business.

478
00:38:25.880 --> 00:38:29.960
So y'all discuss the FED on the
last And I want to piggyback on

479
00:38:30.000 --> 00:38:35.239
that conversation because I FED chair Pal
testifies in front of Congress next week on

480
00:38:35.559 --> 00:38:37.519
Tuesday, and then he gives a
speech on Wednesday. I think that's really

481
00:38:37.599 --> 00:38:39.559
going to be a really big deal
of what he's going to say there.

482
00:38:39.599 --> 00:38:45.159
Because the latest economic data over this
last month has shown a deterioration in the

483
00:38:45.199 --> 00:38:49.159
spots where the FED was wanting to
see it. They have them that they

484
00:38:49.239 --> 00:38:53.440
need to begin this rate cutting cycle
based on the economic reports. Now,

485
00:38:53.599 --> 00:38:59.440
the problem with doing it in September
is the political move and so the the

486
00:38:59.559 --> 00:39:02.719
chances of a rate cut in July's
meeting is actually getting really high now.

487
00:39:02.880 --> 00:39:06.880
It's kind of like a fifty to
fifty, it seems like. So I'm

488
00:39:07.000 --> 00:39:09.519
thinking that it does make sense that
they could possibly cut in July and hold

489
00:39:09.599 --> 00:39:15.320
in September because of the political nature
of that meeting. Absolutely, yeah,

490
00:39:15.360 --> 00:39:19.880
no, absolutely, I don't see
either one of them happening. But that's

491
00:39:20.639 --> 00:39:22.480
I think it's premature. But that
doesn't you know, I don't make that

492
00:39:22.559 --> 00:39:25.360
decision. Yeah, well, I
mean if you look at central banks around

493
00:39:25.400 --> 00:39:29.920
the world, there's thirty four global
central banks. Forty two percent of them

494
00:39:30.039 --> 00:39:34.039
already are in easing mode. They
have started their rate cutting cycles. That's

495
00:39:35.199 --> 00:39:38.360
compared against only ten percent in July
of twenty twenty three. And the consensus

496
00:39:38.360 --> 00:39:44.199
expectations are that over that's going to
double. Around eighty percent of the central

497
00:39:44.239 --> 00:39:45.960
banks will start their rate cutting cycle
by the end of twenty twenty four.

498
00:39:46.599 --> 00:39:52.519
So there are all central banks around
the world are leading towards this rate cutting

499
00:39:52.559 --> 00:39:55.079
cycle. We saw Canada was one
of the first ones. The ECB just

500
00:39:55.119 --> 00:39:59.000
did theirs a month and a half
ago, and we said for a while

501
00:39:59.039 --> 00:40:01.000
that was the canary in the old
mind. So it seems like we're we're

502
00:40:01.039 --> 00:40:05.519
coming up on our on our the
start of our rate cutting cycle. I

503
00:40:05.519 --> 00:40:07.960
don't understand that canary in the coal
mine. How could a canary make it

504
00:40:08.000 --> 00:40:12.239
in the cool What would it be
in there? You've never heard that expression,

505
00:40:12.280 --> 00:40:15.480
I do. I don't understand it. What's the canary doing in a

506
00:40:15.480 --> 00:40:17.360
coal mine? So when it's a
bird, and so when the gas gets

507
00:40:17.400 --> 00:40:22.000
too bad. The bird dies,
and that's when in the first place,

508
00:40:22.079 --> 00:40:25.719
it's a signal all the testing.
Yeah, forget what are you actually putting

509
00:40:25.800 --> 00:40:29.199
him in there? But when the
bird dies, you know, get the

510
00:40:29.199 --> 00:40:31.880
heck out of there. Yeah,
all these cold mines have canaries in them.

511
00:40:34.559 --> 00:40:40.440
No, you can't put like a
electronic thing in there that says I

512
00:40:40.719 --> 00:40:43.920
you can now, I think you
can now. Yeah they do. No,

513
00:40:44.199 --> 00:40:45.639
probably an old school method, Yeah, they do. Know. It's

514
00:40:46.280 --> 00:40:50.599
would like it to you know where
tali sticks come from, Dean. It

515
00:40:50.719 --> 00:40:53.840
was actually a monetary system that the
English used for hundreds of years, the

516
00:40:55.199 --> 00:40:59.679
tally stick system. You know,
you tally that's that was what that came

517
00:40:59.679 --> 00:41:01.800
from the Egyptians. No, it
was actually a monit Well, there's actually

518
00:41:01.840 --> 00:41:06.519
a lot of societies that use tally
systems. There are a lot of you

519
00:41:06.519 --> 00:41:10.559
read the Bible, but the English
were famous for their tally stick system,

520
00:41:10.679 --> 00:41:15.079
and it was how they made sure
that the government didn't print more money than

521
00:41:15.079 --> 00:41:17.679
they were supposed to and it worked
for hundreds of years. That's amazing.

522
00:41:19.719 --> 00:41:22.400
Apparently, it's amazing. A lot
of these sayings that we just take for

523
00:41:22.480 --> 00:41:27.480
granted to they come from somewhere that
they come from somewhere they actually do have

524
00:41:27.519 --> 00:41:30.559
a basis. In fact, I
was looking at a couple of beat up

525
00:41:30.599 --> 00:41:35.280
stocks that they got some love this
week. Disney Disney down seventeen percent in

526
00:41:35.320 --> 00:41:38.000
the last ninety days. Bank of
America says buy the stock. They got

527
00:41:38.039 --> 00:41:43.360
a price target of one hundred and
forty five based on strengthen the theme park

528
00:41:43.400 --> 00:41:47.639
and the turnaround to the content of
one hundred and forty five increase from here.

529
00:41:47.920 --> 00:41:53.239
Win Win has been struggling. The
hopes for that Chinese recovery are fading

530
00:41:53.719 --> 00:41:58.880
on along with their real estate bubble, but Wells Fargo kept the stocking to

531
00:41:58.920 --> 00:42:02.480
buy with a price target of six, which again is about fifty percent above

532
00:42:02.599 --> 00:42:07.239
where we are right now. Bitcoin
struggling in this week, down ten percent

533
00:42:07.320 --> 00:42:14.159
on the week, led by a
mount gox exchange reactivating their dormant wallet.

534
00:42:14.480 --> 00:42:16.719
For people who don't know what mount
gox is, it was the coinbase before

535
00:42:16.760 --> 00:42:21.519
coinbase was coinbase, right, so
every wanted who bought it bitcoin went to

536
00:42:21.559 --> 00:42:24.079
this exchange. It was an exchange
in Japan headquartered in Japan. Back in

537
00:42:24.119 --> 00:42:29.360
twenty thirteen, they got hacked and
over eighty million bitcoin at that time was

538
00:42:29.400 --> 00:42:32.079
stolen. Now it's worth like eight
hundred billion. It's it's it's an insane

539
00:42:32.119 --> 00:42:36.159
amount of money that it's worth now, and that those people are starting to

540
00:42:36.159 --> 00:42:39.400
get paid back after ten plus years
of litigation going through the systems, they're

541
00:42:39.400 --> 00:42:43.679
finally getting paid back. So mount
Gox finally has to start paying these people

542
00:42:43.679 --> 00:42:47.800
out. And with on chain analysis
you can actually see when wallets become active

543
00:42:47.840 --> 00:42:51.559
again and are ready to actually send
money. Well, go through the process

544
00:42:51.559 --> 00:42:53.840
because I don't understand, well,
okay, they got hacked and what happened

545
00:42:53.840 --> 00:42:57.880
to all the money? So when
you buy bitcoin at coinbase, right,

546
00:42:58.360 --> 00:43:01.320
it doesn't go into your wallet,
into coinbases wallet, right, just like

547
00:43:01.360 --> 00:43:05.039
as if you're buying if you put
money in a bank, you don't have

548
00:43:05.159 --> 00:43:07.199
your own bank. It's it's it's
pulled money in a bank, right,

549
00:43:07.480 --> 00:43:12.760
So imagine that, but the bank
gets hacked. Okay, so the money

550
00:43:12.800 --> 00:43:15.760
isn't there, and but those people
who put money in there are still owed

551
00:43:15.800 --> 00:43:20.639
that money, right, So where
did the money go? It was hackers,

552
00:43:21.000 --> 00:43:23.440
they had they get it back.
They didn't get it back. Then,

553
00:43:23.480 --> 00:43:29.039
how's eight hundred Malgox owes it?
Because they still had other money from

554
00:43:29.119 --> 00:43:32.360
their years of operations. They they
themselves had a lot of bitcoin stashed as

555
00:43:32.400 --> 00:43:37.599
well Mountgox operations during this whole thing, because back in twenty thirteen, it

556
00:43:37.639 --> 00:43:39.599
was really easy to get like ten
thousand bitcoin. It was super cheap.

557
00:43:39.960 --> 00:43:43.800
So you imagine now what they have. So now they're what do they paying

558
00:43:43.840 --> 00:43:47.079
the back at what level? I
don't know the exact levels. It's definitely

559
00:43:47.079 --> 00:43:51.280
not one hundred percent, you know
that, but right, But I think

560
00:43:51.320 --> 00:43:54.719
the reason for the weakness in bitcoin
is the possibility that as much as nine

561
00:43:55.239 --> 00:44:00.519
billion dollars with a bitcoin could be
dumped on the market. And if if

562
00:44:00.559 --> 00:44:05.199
it's look, if you've been looking
for an entry point for bitcoin, this

563
00:44:05.360 --> 00:44:08.119
is kind of attractive. I'm gonna
be kind of getting excited here a little

564
00:44:08.159 --> 00:44:10.480
bit. Yeah, if you're if
you're waiting for an entry point, I

565
00:44:10.480 --> 00:44:15.480
couldn't see a better opportunity than there
to start a position, especially now when

566
00:44:15.480 --> 00:44:19.360
he's just buy them an ETFs.
Yeah, yeah, cheap ways to do

567
00:44:19.400 --> 00:44:22.519
it. You get the bitcoin ETFs, you don't have to worry about remembering

568
00:44:22.599 --> 00:44:27.360
the past it with coinbase and having
somebody stealing it, and there's and you

569
00:44:27.400 --> 00:44:29.599
know, I opened a different account, and you just buy it. I

570
00:44:29.639 --> 00:44:31.360
mean, but you hear it all
the time with like fd I C versus

571
00:44:31.880 --> 00:44:35.679
s I p C, and people
are like, well, my money is

572
00:44:35.679 --> 00:44:37.199
safe at the bank, as if
it's not safe in an investment account.

573
00:44:37.239 --> 00:44:42.519
And people don't understand that there's a
securities insurance as well, an insurance for

574
00:44:42.599 --> 00:44:45.920
securities, right stocking, a bond
is a security. Money in a bank

575
00:44:46.000 --> 00:44:50.800
is called a deposit. So that's
why you have deposit insurances and securities insurances.

576
00:44:51.119 --> 00:44:54.440
So there are levels of protections for
securities in these investment accounts. Just

577
00:44:54.440 --> 00:44:59.559
I don't think people are really familiar
if you don't have with coinbase no.

578
00:45:00.320 --> 00:45:04.440
Yeah, and it is a protection
against fraud, yes, not against making

579
00:45:04.440 --> 00:45:08.400
a stupid decision, right against fraud, yes, And those are in place.

580
00:45:08.519 --> 00:45:14.079
That's a good thing, exactly Like
when people are like, the government's

581
00:45:14.119 --> 00:45:15.719
going to come take your high rate
money, Like, no, that's not

582
00:45:16.119 --> 00:45:19.679
that's not going to happen. It's
not going to have to happen. The

583
00:45:20.320 --> 00:45:23.320
Costco and Amazon both traded a new
all time highs last week. New reports

584
00:45:23.320 --> 00:45:30.119
that came out showed that Costco and
Amazon since twenty nineteen have gained the most

585
00:45:30.360 --> 00:45:37.400
market share in the grocery business of
any retailer, they're responsible. Those two

586
00:45:37.440 --> 00:45:43.199
companies are responsible for twenty three percent
of the growth in the category. In

587
00:45:43.239 --> 00:45:46.280
the grocery category, twenty three percent
of the growth despite only having twelve percent

588
00:45:46.320 --> 00:45:50.079
of the market. Yeah, well, Walmart's got to have a lot of

589
00:45:50.079 --> 00:45:53.000
it. We're talking about it Walmart, I guess. But Walmart wasn't mentioned

590
00:45:53.039 --> 00:45:55.920
as far as Costco and Amazon.
No, I'm saying like they probably just

591
00:45:55.960 --> 00:46:00.000
own a lot of the market.
They're not growing. I'm sure. Yeah,

592
00:46:00.000 --> 00:46:01.880
the market share is probably not growing
because Walmart, you know, right,

593
00:46:01.920 --> 00:46:06.679
I think the report was pretty much
based upon growth exactly from there.

594
00:46:07.119 --> 00:46:10.119
Lulu Lemon was the third one.
I was gonna mention the best of class

595
00:46:10.119 --> 00:46:16.199
retailer down forty one percent this year. Brokeris from Baird lowered their price target

596
00:46:16.480 --> 00:46:21.800
to four hundred and seventy dollars but
kept it as a bye. Remember four

597
00:46:21.880 --> 00:46:25.599
hundred and seventy dollars is sixty percent. The Pope war closed on Friday.

598
00:46:27.199 --> 00:46:31.320
Yeah, but Lulu Lemon turns it
around and starts starts cranking. There's a

599
00:46:31.320 --> 00:46:37.000
lot of upside there is, But
they're also that whole area is getting a

600
00:46:37.000 --> 00:46:40.239
little saturated. There's a lot more
companies coming out with cheaper versions of Lululemon,

601
00:46:40.559 --> 00:46:45.599
and I think that just as comfy. So I don't know if like

602
00:46:45.639 --> 00:46:49.880
Lulu's the best one stone kind of
thing. I'm still the best because more

603
00:46:49.880 --> 00:46:53.039
the high end one, but there's
more competitors coming out. All right,

604
00:46:53.360 --> 00:46:55.880
We're gonna have to wrap up this
segment. There's another hour ago. We

605
00:46:55.960 --> 00:47:00.280
member it's a different type. Uh, it's educational. Listen, that's what

606
00:47:00.320 --> 00:47:05.000
you think. We appreciate you always
listening to the moneymount of show and you

607
00:47:05.000 --> 00:47:09.960
can always get them on our website
or podcasts Money Matters with Dean Greenberg.

608
00:47:10.360 --> 00:47:13.960
We'll give you everything you need.
I hope you having a good weekend.

609
00:47:14.079 --> 00:47:23.880
We'll be right back after the shortbreak. Hello, and welcome to Money Matters.

610
00:47:23.920 --> 00:47:29.239
I'm Sarah Peterson here with the president
and founder of Greenberg Financial Greep,

611
00:47:29.800 --> 00:47:32.000
Dean Greenberg. How are you today. I'm good, Sarah. Always good

612
00:47:32.000 --> 00:47:35.800
to see you, amazing to see
you. I am so excited for today's

613
00:47:35.800 --> 00:47:37.440
show. We have so much to
talk about. We had a lot to

614
00:47:37.480 --> 00:47:39.719
talk about, but you know,
I've been doing this for a little over

615
00:47:39.800 --> 00:47:45.519
a year and a half now on
TV and it's amazing how many people are

616
00:47:45.559 --> 00:47:47.440
starting to pick up and watching it
and listening and coming to see us from

617
00:47:47.480 --> 00:47:52.079
it. So, you know,
a lot of people know I've done radio

618
00:47:52.360 --> 00:47:54.480
for thirty four years. I'm the
type of person when I start doing something,

619
00:47:54.880 --> 00:47:58.719
I keep doing it and it just
seems to work. And I think,

620
00:47:58.760 --> 00:48:02.280
what people want to hear, straightforward
commentary, What do you think?

621
00:48:02.599 --> 00:48:05.880
You know? They don't want to
be sold anything. They want to hear

622
00:48:05.960 --> 00:48:07.679
what do you say? And what
are you doing? And what are you

623
00:48:07.800 --> 00:48:12.760
offering me? Don't you feel like
the shows on television and the radio are

624
00:48:12.760 --> 00:48:15.480
both just your way of educating people
in a way that we don't have,

625
00:48:15.880 --> 00:48:21.039
you know, our formal education.
It's always been that way, the one

626
00:48:21.079 --> 00:48:23.480
thing, and you don't I didn't
realize it when I started, but I'm

627
00:48:23.559 --> 00:48:28.760
always been an educator. I want
if people understand what I'm talking about.

628
00:48:29.119 --> 00:48:32.920
It builds a trust. When you
try to talk over people or you leave

629
00:48:32.960 --> 00:48:36.719
things out so they don't know everything
because you want to be the one that

630
00:48:36.800 --> 00:48:42.079
knows everything, it develops a scenario
where they don't know it, but there's

631
00:48:42.119 --> 00:48:45.800
an uncomfortability there. So I always
want people to feel comfortable. I want

632
00:48:45.800 --> 00:48:47.320
them to know what we're doing,
how we're doing. I want them to

633
00:48:47.320 --> 00:48:52.800
feel comfortable asking questions all the time. Questions are important. They feel good

634
00:48:52.800 --> 00:48:54.280
because really, at the end of
the day, it's not just about us

635
00:48:54.320 --> 00:49:00.599
investing. It's about them feeling less
stressed that they can live their retirement without

636
00:49:00.639 --> 00:49:05.039
having any ability to be able to
have the income they need. And when

637
00:49:05.039 --> 00:49:08.800
we have situations like we do now
with high inflation and when things go bad,

638
00:49:09.159 --> 00:49:10.760
how are we going to get out
of them? How we're going to

639
00:49:10.800 --> 00:49:14.760
move forward? And that's what I
think our job is more than anything.

640
00:49:15.280 --> 00:49:20.400
Let's talk about that inflation that you
were discussing, because this is something that

641
00:49:20.480 --> 00:49:24.119
is impacting everyone. And when you're
approaching retirement and you are about to be

642
00:49:24.199 --> 00:49:30.639
living on a fixed income, how
do we approach these unknown inflationary rises and

643
00:49:31.159 --> 00:49:37.239
generate enough income. Well, it's
hard. If you're in retirement and all

644
00:49:37.280 --> 00:49:40.800
of a sudden you have inflation.
The only thing that's good at that time

645
00:49:40.960 --> 00:49:45.119
is if you had cash a short
term bonds that you can move into longer

646
00:49:45.199 --> 00:49:51.599
term bonds and be able to get
a higher income. Even short term bonds

647
00:49:51.679 --> 00:49:53.840
two year bonds now paying you for
four and a half four to six with

648
00:49:55.400 --> 00:50:00.559
the government. And you know there's
annuity is that like my goods that are

649
00:50:00.599 --> 00:50:05.440
able to give you almost five and
a half percent with tax deferral. So

650
00:50:05.480 --> 00:50:07.119
there's ways now you can get more
income than we were able to get.

651
00:50:07.320 --> 00:50:12.079
I mean a few years ago when
everything money markets were less than one percent

652
00:50:12.719 --> 00:50:15.519
and everything was paying you nothing.
So at least now there's some income coming

653
00:50:15.519 --> 00:50:19.559
to you. But you have to
set that portfolio up. The problem is

654
00:50:19.559 --> 00:50:22.719
inflation is just as much, so
you're not going to keep up with it.

655
00:50:22.239 --> 00:50:27.119
The way you keep up with it
beforehand is by being able to be

656
00:50:27.559 --> 00:50:31.440
in assets for ten, twenty twenty
five years that actually grow for you,

657
00:50:31.719 --> 00:50:35.960
because once you become retired, you
got to be a lot more conservative if

658
00:50:35.960 --> 00:50:38.159
you've got to live off your portfolio. So let's back it up, Ben,

659
00:50:38.239 --> 00:50:44.400
So when is the perfect time to
start planning for your retirement immediately?

660
00:50:45.400 --> 00:50:49.360
Yes, you know, it's like
you know, people always ask that question.

661
00:50:49.400 --> 00:50:51.360
It doesn't matter. If you haven't
done it, then you have to

662
00:50:51.400 --> 00:50:53.199
start today. If you've been doing
it, let's see what you've been doing

663
00:50:53.239 --> 00:50:57.639
and go forward. The biggest problem
you have is you and I both know

664
00:50:57.760 --> 00:51:00.599
we talk about this a lot people
have four one K plans. No one

665
00:51:00.599 --> 00:51:04.440
teaches them what to do, and
a lot of that has to do with

666
00:51:04.559 --> 00:51:07.800
the Department of Labor and all and
all their rules and regulations on just want

667
00:51:07.840 --> 00:51:12.599
to get people in trouble rather than
people being able to get real advice from

668
00:51:12.639 --> 00:51:15.679
people. And you know, I'm
not too afraid of that. If someone

669
00:51:15.679 --> 00:51:17.960
comes to me and wants help,
I'm going to help them, you know,

670
00:51:19.920 --> 00:51:22.599
because I believe we always put the
client first. We always feel what

671
00:51:22.639 --> 00:51:24.760
we're doing for the client is right. But you got to know what their

672
00:51:24.840 --> 00:51:29.440
risk tolerance is. But there's people
that have fifteen twenty years or more than

673
00:51:29.480 --> 00:51:35.079
ten years, and they're in a
very very lesson conservative, very like almost

674
00:51:35.119 --> 00:51:39.039
cash simple bonds, not making any
money for years when they've missed out on

675
00:51:39.199 --> 00:51:45.079
so much in the in the in
the in the markets. Well, when

676
00:51:45.119 --> 00:51:47.159
you're younger, you have the ability
to be a little bit more aggressive and

677
00:51:47.199 --> 00:51:51.639
take a little bit more risk.
But our risk tolerance does go down approaching

678
00:51:51.880 --> 00:51:53.840
you know, retirement, correct,
So we want to make sure that we're

679
00:51:53.840 --> 00:51:57.880
always in the appropriate amount of risk
at that given time of our life.

680
00:51:57.880 --> 00:52:01.400
Absolutely, But here's the secret that
people don't know every time the markets go

681
00:52:01.440 --> 00:52:05.920
down, guess what happens. They
go back up. They make a new

682
00:52:06.000 --> 00:52:08.239
high. They always make a new
high. But you know why they're making

683
00:52:08.280 --> 00:52:12.920
new high. If something in the
S and P five hundred or the Dow

684
00:52:13.039 --> 00:52:15.880
Jones is not working, they take
it out and they replace it with the

685
00:52:16.440 --> 00:52:21.440
companies that are doing well. So
the indexes will always go up and make

686
00:52:21.440 --> 00:52:25.199
a new high. Think about that. They just switched out what they switched

687
00:52:25.199 --> 00:52:28.960
out, Walgreens. They just put
in Walgreens. Not too long ago,

688
00:52:29.239 --> 00:52:32.280
they take Walgreens out of the Dow
and they put in Amazon. Think about

689
00:52:32.280 --> 00:52:35.880
that. It's crazy that that's how
they do it, and that's why we

690
00:52:35.880 --> 00:52:38.840
always make new high. So part
of your portfolio always needs to be in

691
00:52:39.320 --> 00:52:45.519
part of the indexes. And how
much of this conversation revolves around budgeting when

692
00:52:45.519 --> 00:52:50.559
you get to do your fixed income
stage of life, how much of that

693
00:52:50.639 --> 00:52:52.400
is creating a budget that will account
for him? PLEA, Well, it's

694
00:52:52.400 --> 00:52:58.239
funny. That's why you have to
always start when someone's retiring, how much

695
00:52:58.280 --> 00:53:01.480
income do they need? A lifestyle? Do they want? What extras?

696
00:53:01.559 --> 00:53:06.119
The one thing I knew, do
know is that retirement spending it's a Bell

697
00:53:06.159 --> 00:53:09.119
Curve meeting. It goes up in
the beginnings in your sixties and your seventies,

698
00:53:09.280 --> 00:53:13.480
but by the time you hit late
seventies and eighties, it's going down.

699
00:53:13.679 --> 00:53:15.800
So what you want to do is
be able to prepare for that.

700
00:53:15.320 --> 00:53:20.280
We have a strategic income model that
I started after two thousand and one.

701
00:53:20.800 --> 00:53:22.880
And I did this because when everybody
got crushed there, they were like,

702
00:53:22.880 --> 00:53:24.519
what am I supposed to do?
How am I going to do this?

703
00:53:24.679 --> 00:53:29.440
And I came up with an idea
on how they at least have money for

704
00:53:29.519 --> 00:53:32.239
three to five years of a bond
maturing one, two, three, four,

705
00:53:32.280 --> 00:53:36.000
five years like in that one bucket, so they know they could have

706
00:53:36.119 --> 00:53:38.480
money for five years and can let
the growth come back on the other side.

707
00:53:39.039 --> 00:53:44.039
And that has helped a lot of
people get through the tough times because

708
00:53:44.079 --> 00:53:45.679
I don't know when the market's going
to go down again. They will,

709
00:53:46.159 --> 00:53:50.280
something will happen. I don't think
it's this year. I don't think it's

710
00:53:50.280 --> 00:53:52.679
before the election. Yes, we
can have a ten twelve percent pullback,

711
00:53:52.960 --> 00:53:57.679
but I think any problems we have
always comes in the first second year of

712
00:53:57.719 --> 00:54:01.000
the next president said election. But
I'm going to take us to a quick

713
00:54:01.000 --> 00:54:05.559
commercial break, because when we come
back, I really want to dive into

714
00:54:05.800 --> 00:54:07.880
how we're going to plan for all
these unknowns, including the election, and

715
00:54:08.079 --> 00:54:13.760
how that impacts your finances going into
retirement. That phone number on the bottom

716
00:54:13.800 --> 00:54:16.440
of your screen is five two zero
five four four four nine zero nine.

717
00:54:16.639 --> 00:54:21.239
Give us a call and we can
connect you with somebody at Greenberg Financial Group

718
00:54:21.519 --> 00:54:24.960
that will give you a complimentary portfolio
analysis that will cost other people will charge

719
00:54:25.000 --> 00:54:28.719
you thousands of dollars or more.
Dean is a great guy. He wants

720
00:54:28.760 --> 00:54:30.519
to give this to you as part
of his education, tell you whether or

721
00:54:30.599 --> 00:54:35.039
not you're on the right path to
retirement. Please stay with us when we

722
00:54:35.039 --> 00:54:37.800
come back, we're going to get
more in depth on how to plan for

723
00:54:37.920 --> 00:54:42.960
your retirement. Stay with us.
Hello, and welcome back to Money Matters.

724
00:54:43.039 --> 00:54:46.320
I'm Sarah Peterson here with Dean Greenberg
of Greenberg Financial Group and we're getting

725
00:54:46.360 --> 00:54:52.159
into it about the elections and how
this is going to impact the way we

726
00:54:52.280 --> 00:54:57.119
plan for our retirement. It's funny
leading up to the election, there's a

727
00:54:57.159 --> 00:55:00.000
lot of you know, talk about
what's going to happen on the other side,

728
00:55:00.800 --> 00:55:02.639
but it seems like no matter what, you sort of see the same

729
00:55:02.679 --> 00:55:06.960
trend afterwards. You got the problems
at the beginning, and then you grow.

730
00:55:07.599 --> 00:55:09.559
I mean, if you ever told
me that Joe Biden was going to

731
00:55:09.599 --> 00:55:13.880
get in as president and he was
going to make all these changes and we're

732
00:55:13.880 --> 00:55:16.159
gonna have all this inflation, I'm
gonna be honest with you, I would

733
00:55:16.159 --> 00:55:21.280
have thought the markets would be lower. Okay, somehow the markets have stayed

734
00:55:21.360 --> 00:55:27.000
up here, don't know other than
the fact that is these major technology stocks

735
00:55:27.000 --> 00:55:30.440
that have come done very very well, but they're not supposed to be other

736
00:55:30.519 --> 00:55:34.440
than this whole new AI thing,
and we'll get into that later on.

737
00:55:35.880 --> 00:55:38.239
The biggest thing that's going to happen
with the election, depending who gets in,

738
00:55:39.199 --> 00:55:43.599
is going to be what's going to
happen to the sunsetting of the Trump

739
00:55:43.639 --> 00:55:47.760
tax cuts, because that's a state
planning that's we haven't had to worry about

740
00:55:47.920 --> 00:55:53.079
for what ten years? Almost,
okay, because when that happens, I

741
00:55:53.119 --> 00:56:00.760
think it's what twenty twenty six,
you're going to see the the estate tax

742
00:56:00.760 --> 00:56:05.039
that is twelve million dollars person now
and they's talking about going down to a

743
00:56:05.079 --> 00:56:08.199
million. All right, it could
go down, and they do nothing to

744
00:56:08.280 --> 00:56:12.760
back to six million and that's going
to be a problem because people have more

745
00:56:12.760 --> 00:56:15.440
money now, so they're going to
have to start planning. They're going to

746
00:56:15.440 --> 00:56:19.199
have to do more type of planning. So they do it, and then

747
00:56:19.239 --> 00:56:21.280
people are like, do I want
to make more money than you know?

748
00:56:21.519 --> 00:56:23.480
And it's a lot of things,
but taxes is going to be the main

749
00:56:23.519 --> 00:56:27.639
thing, because if you keep listening
to it, if Biden gets sim what

750
00:56:27.719 --> 00:56:30.280
do you have? You have a
scenario that all he wants to do is

751
00:56:30.360 --> 00:56:35.719
raise taxes on the rich, which
to me is a lot of bull because

752
00:56:35.719 --> 00:56:38.079
if they wanted to, they would. They won't change the carried interests.

753
00:56:38.119 --> 00:56:43.199
They had an opportunity. Cinema didn't
let that happen. They get paid by

754
00:56:43.239 --> 00:56:46.000
the rich, but they would do
the rhetoric saying I think we should pay

755
00:56:46.000 --> 00:56:50.880
our fair share. If they wanted
to, they can do it by changing

756
00:56:50.920 --> 00:56:53.280
the tax law. They won't do
it, but they want to use that

757
00:56:53.440 --> 00:56:57.599
to be able to get people to
come in. They will do stuff and

758
00:56:57.639 --> 00:57:02.239
it's going to hurt you know who, the low upper class and the upper

759
00:57:02.280 --> 00:57:07.239
middle class. That's who it's gonna
hurt because it's gonna hurt the people basically

760
00:57:07.280 --> 00:57:12.360
making about three hundred four hundred,
five hundred, six hundred thousand dollars and

761
00:57:12.400 --> 00:57:15.000
more. That's who it's gonna hurt
the most. It seems like a lot

762
00:57:15.000 --> 00:57:19.760
of money in today's inflationary world and
what things are costing and doing stuff.

763
00:57:19.920 --> 00:57:23.440
It's all relevant. It's all relevant, and what ends up happening is those

764
00:57:23.480 --> 00:57:27.760
are the people that are gonna get
taxed. You're going to see different changes

765
00:57:27.840 --> 00:57:30.280
in tons of it. And it
doesn't have to just be taxing on you

766
00:57:30.559 --> 00:57:36.360
on your W two's and your ten
ninety nins. Taxing could be seeing inflation

767
00:57:37.239 --> 00:57:40.119
seeing which is everything they do by
giving away free stuff, it's inflationary.

768
00:57:40.440 --> 00:57:45.559
We have to raise taxes for what
to pay for all the illegal immigrants had

769
00:57:45.599 --> 00:57:47.440
to go into all these cities.
I don't want to get into politics right

770
00:57:47.480 --> 00:57:54.320
now, but it costs us money
just to politics and talk about the elections.

771
00:57:54.000 --> 00:57:59.119
But it's just what I'm saying is
everything costs us money, and how

772
00:57:59.159 --> 00:58:01.440
are you going to pay for that? As it is with interest rates higher,

773
00:58:01.719 --> 00:58:07.000
it's over trillion dollars a year we're
paying an interest. We can't sustain

774
00:58:07.079 --> 00:58:10.039
this. It's going to make us
weak at dinees. And I'm a believer

775
00:58:10.039 --> 00:58:15.599
that you build things with cement steps, meaning if you fall back down we

776
00:58:15.679 --> 00:58:17.440
all do, you only have to
fall down one or two steps. If

777
00:58:17.440 --> 00:58:21.000
you build it with a house of
cards, which is what we're doing right

778
00:58:21.039 --> 00:58:24.920
now, everything collapses and you got
to start over. And I'm concerned about

779
00:58:24.960 --> 00:58:30.440
that, and there's really no place
to hide if this, if this happens,

780
00:58:31.079 --> 00:58:36.280
let's talk about when we're on the
heels of inflation. I've been reading

781
00:58:36.360 --> 00:58:40.920
so much about interest rates in terms
of credit cards and how people are really

782
00:58:42.360 --> 00:58:45.079
they're really feeling the pinch right now. This is I think the highest rate

783
00:58:45.119 --> 00:58:51.760
of credit card debt we've ever seen. The numbers are staggering because people can't

784
00:58:51.800 --> 00:58:54.559
afford their lives, they're continuing to
spend and the rates on the credit cards

785
00:58:54.639 --> 00:59:00.079
are so high. So how do
we decipher good debt versus bad debt?

786
00:59:00.719 --> 00:59:05.000
And you know, where should we
be focused. Let's talk about that first.

787
00:59:05.360 --> 00:59:07.639
The other part. First, you
know, a lot of people got

788
00:59:07.639 --> 00:59:10.880
a lot of money from the pandemic, businesses, individuals, There's a lot

789
00:59:10.880 --> 00:59:15.039
of free money. That's what's created
this inflationary part when we had a supply

790
00:59:15.199 --> 00:59:19.199
problem. Right, So, now
we're going here and we'll getting to the

791
00:59:19.280 --> 00:59:22.360
end of that that money isn't there. So what are people doing. They

792
00:59:22.360 --> 00:59:28.000
are now going on credit cards to
pay for their essential bills because let's face

793
00:59:28.039 --> 00:59:30.320
it, everyone needs food, energy, and they got to pay rent.

794
00:59:30.599 --> 00:59:34.440
So they're using credit cards to pay
certain things so they have money to pay

795
00:59:34.480 --> 00:59:37.559
the other stuff or they're not.
But the interest rates have gone average interestrates

796
00:59:37.559 --> 00:59:42.480
twenty five twenty six percent on credit
cards, and it's only going to increase

797
00:59:42.480 --> 00:59:46.000
because people can't pay them off.
And what's happening is savings is going down.

798
00:59:46.440 --> 00:59:51.599
When you put that combination together for
the average American, it's terrible.

799
00:59:51.920 --> 00:59:54.760
I know you hear every day right
now because it's a political year. Inflation

800
00:59:54.840 --> 00:59:59.800
has come down. We brought inflation
down. You put inflation down to four

801
00:59:59.760 --> 01:00:02.960
per It was zero percent, now
it's four percent. Yes, it was

802
01:00:04.000 --> 01:00:07.920
eight. But when you go to
the store, I don't think things have

803
01:00:07.000 --> 01:00:10.519
come down. I don't think cars
have come down. I don't think most

804
01:00:10.559 --> 01:00:15.360
things that we use on an individual
basis have calmed down. Oil has gone

805
01:00:15.440 --> 01:00:17.960
up, now it's come down,
and now it's going back up again.

806
01:00:19.199 --> 01:00:22.159
Gasoline prices are still about four dollars
a gallon. I just literally was going

807
01:00:22.199 --> 01:00:25.320
to say four dollars to me,
is it's unacceptable? It was it the

808
01:00:25.320 --> 01:00:29.840
tank yesterday? It was a dollars
eighty nine a few years ago. All

809
01:00:29.920 --> 01:00:34.239
right, there's the problems we have
and they're not fixing it. It's very

810
01:00:34.280 --> 01:00:37.679
easy if Congress got behind it.
No, what are they worry What are

811
01:00:37.679 --> 01:00:40.280
they concerned about? TikTok? That's
what they're worried about, and they get

812
01:00:40.320 --> 01:00:44.519
tick there. This's what bothers me. They can get TikTok done? Right?

813
01:00:45.239 --> 01:00:47.519
What in three sessions, sit down, do it, argue about it,

814
01:00:47.519 --> 01:00:51.480
and get it done. But they
can't fix the border, they can't

815
01:00:51.519 --> 01:00:54.559
fix what's going on with education,
they can't fix what's going on in inflation.

816
01:00:55.000 --> 01:00:58.719
So we have a problem. They
don't care about the people. So

817
01:00:58.840 --> 01:01:00.800
with that, you have to have
plan on how you're going to invest.

818
01:01:01.320 --> 01:01:05.719
If you don't have that plan,
everything's going to bother you. And that's

819
01:01:05.719 --> 01:01:08.960
why we always tell people you better
put a plan together so you know during

820
01:01:09.000 --> 01:01:12.880
bad times what you can expect.
Well, let's talk about that plan,

821
01:01:12.920 --> 01:01:15.800
because we're not just talking about okay, uh, a conversation where we sit

822
01:01:15.880 --> 01:01:19.239
down, what do you want to
do with your life? This is really

823
01:01:19.320 --> 01:01:22.559
a concrete plan that's going to take
you from where you are to where you

824
01:01:22.599 --> 01:01:25.840
want to be. But it has
you have to include all of your financial

825
01:01:27.079 --> 01:01:30.679
information in this plan, right,
and this is not one plan for everybody.

826
01:01:30.719 --> 01:01:34.480
This is an individualized plan that looks
at what you want, what you

827
01:01:34.559 --> 01:01:38.360
need, what your past, present
and future are. Yes, you have

828
01:01:38.440 --> 01:01:42.440
to do all that when you take
social security. If you've already taken Social

829
01:01:42.440 --> 01:01:45.920
Security, what's going to happen with
this? Tax changes? If they come

830
01:01:45.000 --> 01:01:47.639
up, that's going to be the
big one for people that are already retired,

831
01:01:47.960 --> 01:01:52.840
all right, they got to worry
about that. You know, how

832
01:01:52.920 --> 01:01:55.360
what's the best way to get if
we still have inflation? How how what's

833
01:01:55.400 --> 01:02:00.519
the best way to get more money
flown to you tax deferred or even tax

834
01:02:00.599 --> 01:02:02.840
free if you can, because that
way you're going to save on taxes,

835
01:02:02.880 --> 01:02:08.599
which what it increases your amount of
money that you're getting, you know,

836
01:02:08.760 --> 01:02:13.800
And we got to we got to
put a plan together that meets your needs

837
01:02:13.880 --> 01:02:17.360
and your goals. And sometimes you
can't, but we can work towards that.

838
01:02:17.800 --> 01:02:21.840
But you know what the biggest thing
is, just like we tell the

839
01:02:21.880 --> 01:02:23.360
government, you got to stop spending. People don't want to stop spending.

840
01:02:23.599 --> 01:02:29.039
If you're in trouble and you're spending
more than you can go ahead and and

841
01:02:29.239 --> 01:02:31.519
and and and stay within the budget, then you're going to be in trouble.

842
01:02:31.559 --> 01:02:35.199
If you don't feel what you're talking
to me, you're talking to you.

843
01:02:35.920 --> 01:02:38.960
I'm talking to the people that we
actually sit down with that we say

844
01:02:39.000 --> 01:02:43.679
to them, you can keep spending
this you're putting no money away, or

845
01:02:43.719 --> 01:02:45.800
you can come back and have some
money put away if they're younger. Now

846
01:02:45.840 --> 01:02:49.599
that we tire it all right,
you're not going to get much more money

847
01:02:49.639 --> 01:02:52.159
of this unless you take risk,
and you can't handle the risk. So

848
01:02:52.199 --> 01:02:54.599
we got to where can we sit
and where can we cut some spending back

849
01:02:54.639 --> 01:02:59.719
on you? Well, I think
let's let's get to break in a minute,

850
01:02:59.719 --> 01:03:01.719
because on the next segment, I
really want to talk about the importance

851
01:03:01.840 --> 01:03:05.760
of this plan that we're talking about. This is not just where do you

852
01:03:05.840 --> 01:03:07.679
want to go? I want to
sit on a beach when I retire.

853
01:03:07.920 --> 01:03:10.840
That is a portion of it.
But some people think that what they have

854
01:03:12.280 --> 01:03:15.760
is a financial plan, and really
all they have is a stack of statements,

855
01:03:15.840 --> 01:03:17.880
and that's not what we're talking about. So I really want to dive

856
01:03:17.920 --> 01:03:22.800
into why having a financial plan is
so important and how you are going to

857
01:03:22.840 --> 01:03:25.960
approach that with them, and that
phone number is five two zero five four

858
01:03:27.000 --> 01:03:29.840
four four nine zero nine. Stay
with us and when we come back,

859
01:03:29.840 --> 01:03:32.360
we're going to talk about how you
are going to get on your road to

860
01:03:32.440 --> 01:03:38.960
retirement. See you soon. Hello, and welcome back to Money Matters.

861
01:03:39.000 --> 01:03:44.719
I'm Sarah Peterson here with Dean Greenberg, and we're getting all excited we always

862
01:03:44.760 --> 01:03:47.840
do, talking about, you know, how we're going to plan for retirement.

863
01:03:47.920 --> 01:03:52.519
And this plan is not just you
know, the stack of statements.

864
01:03:52.559 --> 01:03:58.000
This plan is something that is created
for you and your needs and your wants,

865
01:03:58.639 --> 01:04:01.039
and I want you to tell us
how Greenberg Financial Group approaches that.

866
01:04:01.320 --> 01:04:05.719
Well, this is this is what
we've created. I've changed my model on

867
01:04:05.760 --> 01:04:11.159
how I've been doing things about three
four years ago when I started looking at

868
01:04:11.239 --> 01:04:16.400
financial planning applications and they've gotten so
much better. The truth of the matter

869
01:04:16.559 --> 01:04:19.679
is, years ago when we did
it, it was just for insurance salesman

870
01:04:19.760 --> 01:04:27.239
to sell annuities and insurance. Today
it's real financial planning. You're looking at

871
01:04:27.360 --> 01:04:30.960
everything that the person has with the
idea to set them up for retirement.

872
01:04:30.280 --> 01:04:32.960
Of where they can be and how
much money they can go to. The

873
01:04:33.039 --> 01:04:36.559
beauty of it too is and you'll
hear it from Todd and Dylan when they

874
01:04:36.559 --> 01:04:42.599
come in, is the availability to
what if what if I spend more money?

875
01:04:42.599 --> 01:04:45.199
How long would it last? What
if I spend more less money?

876
01:04:45.280 --> 01:04:47.519
How long would it last? What
if I had something happen like an emergency?

877
01:04:47.519 --> 01:04:50.239
How much can they take out of
the time and that it would work.

878
01:04:50.559 --> 01:04:54.719
So what happens is if people hear
us, they want to they want

879
01:04:54.760 --> 01:05:00.000
to find the free financial plan and
it's free, okay, And we actually

880
01:05:00.079 --> 01:05:01.360
give them the plan. We don't
hold it back and say, oh,

881
01:05:01.400 --> 01:05:03.559
you have to do business with us. You don't have to do business with

882
01:05:03.639 --> 01:05:08.559
us, because we're confident enough that
people will do business with us. And

883
01:05:08.599 --> 01:05:12.480
if not, then it's okay because
it's building a relationship. So what you

884
01:05:12.559 --> 01:05:14.800
do is they come in with they
get all this stuff. They got to

885
01:05:14.800 --> 01:05:16.199
give us all the financial stuff because
we got to put it in. You

886
01:05:16.280 --> 01:05:19.599
hold anything back and you're not giving
us everything, and we don't see the

887
01:05:19.639 --> 01:05:24.400
picture. So then we sit down
with them. It's about a three or

888
01:05:24.400 --> 01:05:27.880
four meeting, a three or four
time meeting, and then we sit down

889
01:05:28.440 --> 01:05:30.480
and everything's input it and they can
see the whole picture. And then we

890
01:05:30.519 --> 01:05:34.480
go through the financial plan with them
and it's made for them. Then what

891
01:05:34.599 --> 01:05:39.639
happens is now we get it and
it's done or everything's in. We've went

892
01:05:39.679 --> 01:05:44.039
over everything with them, and now
we review it, we analyze it,

893
01:05:44.760 --> 01:05:46.679
we come up with a plan for
them. Then we meet again, we

894
01:05:46.800 --> 01:05:49.679
talk to them about the plan.
I like this. I don't like this.

895
01:05:50.320 --> 01:05:55.559
Uh yeah, I don't think.
I'm not that conservative. I can

896
01:05:55.639 --> 01:05:58.400
use a little bit more here,
you know, I think I need more

897
01:05:58.440 --> 01:06:00.639
money than that. Whatever it is. So now you have to be changing

898
01:06:00.639 --> 01:06:03.400
the plan. And then you've changed
the plan, you get together and you

899
01:06:03.480 --> 01:06:08.679
do it. The big thing with
us is two things in Greenberg Financial Group

900
01:06:08.719 --> 01:06:11.960
that we do that I think separates
us. It is not only do we

901
01:06:12.039 --> 01:06:15.880
to do the financial plan, worry
about tax and social security when you should

902
01:06:15.880 --> 01:06:19.639
take everything, and retirement and income, but we manage the money ourselves.

903
01:06:20.320 --> 01:06:26.599
So by managing the money ourselves,
we have total control over making any changes

904
01:06:27.199 --> 01:06:30.760
met for your individual needs. Because
if you give it out to somebody,

905
01:06:30.440 --> 01:06:33.320
all you can do is either take
some out put some in. But you

906
01:06:33.360 --> 01:06:36.039
can't tell them, oh I don't
want this or I don't want that.

907
01:06:36.119 --> 01:06:39.840
So you don't want to be in
oil stocks, you're not an oil stocks.

908
01:06:39.880 --> 01:06:41.679
You don't want to be in a
certain thing, You're not in those.

909
01:06:41.800 --> 01:06:45.920
If you just want ets, you
got ets depending on your structure of

910
01:06:45.960 --> 01:06:49.559
your risk. So that sense is
different. And the second thing is we

911
01:06:49.639 --> 01:06:54.840
do worry for you. We mightn't
get risk. I mean, I'm in

912
01:06:54.880 --> 01:06:58.639
a cautionary stance right now, but
we're still making good money because if you're

913
01:06:58.639 --> 01:07:01.480
in the right areas, those things
will actually make money while the markets are

914
01:07:01.559 --> 01:07:05.440
doing this. But we're taking advantage
of the fixed income market now with higher

915
01:07:05.440 --> 01:07:11.280
interest rates, and we're doing bond
lattice in real in governments and good corporates.

916
01:07:11.840 --> 01:07:14.920
Plus we know if the interest rates
do come down, which they eventually

917
01:07:15.000 --> 01:07:17.480
will, we want to take advantage
of that. So it's an entire portfolio.

918
01:07:17.880 --> 01:07:21.280
Take an advantage of all that,
and our experience allows us to know

919
01:07:21.480 --> 01:07:27.280
things from equity markets to risk all
the way to fixed income markets, and

920
01:07:27.320 --> 01:07:31.320
then we tailor made that portfolio for
you. Just coming back, you said

921
01:07:31.360 --> 01:07:35.159
you're in a cautionary stance. Maybe
you can expand on that a little bit.

922
01:07:35.239 --> 01:07:40.079
Why do you feel a little bit
more bearish at the moment for everything.

923
01:07:40.480 --> 01:07:42.840
You know, when you get seven
stocks making the markets go up,

924
01:07:42.840 --> 01:07:45.079
and I know a few others are
going now, when you got the debt

925
01:07:45.119 --> 01:07:49.280
that we have right now, when
we have the ability at any time for

926
01:07:49.400 --> 01:07:53.840
us to have a financial crisis,
when we can have a war with China,

927
01:07:54.239 --> 01:07:58.360
or I Ran sets off something that
you know is considered like a dirty

928
01:07:58.400 --> 01:08:00.760
bomb. Israel doesn't, when the
war, Ukraine doesn't, whin the war,

929
01:08:00.880 --> 01:08:03.320
you name it. There's so many
things that could happen. Not to

930
01:08:03.400 --> 01:08:08.679
mention, there are millions of people
coming across here illegally and we're paying for

931
01:08:08.719 --> 01:08:11.800
it, which is just going to
topple us down. One of the reasons

932
01:08:11.880 --> 01:08:15.719
unemployment is down so much. They're
getting jobs. How can they get jobs

933
01:08:15.840 --> 01:08:19.199
if they're illegals. I don't understand
it, But that's our government. Everyone

934
01:08:19.279 --> 01:08:24.039
changes the rules for themselves and we're
not in charge. So at the end

935
01:08:24.079 --> 01:08:27.880
of the day, what I'm saying
is it's an economy that's built on things,

936
01:08:27.880 --> 01:08:30.399
and I'm not understanding. So I
will try to stay in the stuff

937
01:08:30.399 --> 01:08:33.399
to make me money, and I
will stay in things that are safe,

938
01:08:33.680 --> 01:08:36.920
and I'll be able to put myself
in a position that I can make money.

939
01:08:36.920 --> 01:08:41.560
But if this thing turns over,
then we still have a lot of

940
01:08:41.600 --> 01:08:45.159
cash. We have fixed income,
We got cash if it does. But

941
01:08:45.199 --> 01:08:47.600
I'm still going to be able to
participate in the up moves. The other

942
01:08:47.640 --> 01:08:53.199
thing is too when I look at
it, when I look at the portfolios,

943
01:08:53.479 --> 01:08:57.800
right, you got to trim some
of these stocks that have done really

944
01:08:57.800 --> 01:09:00.479
well. You got to trim some
positions and people on trim. It's greed,

945
01:09:00.960 --> 01:09:02.720
just like when it goes down.
If you don't have money to buy,

946
01:09:02.760 --> 01:09:06.119
how you're going to buy? And
then and we're patient. So what's

947
01:09:06.119 --> 01:09:12.680
the process like when someone calls in
and they take it to Greenberg Financial Group?

948
01:09:12.840 --> 01:09:15.199
And where do we start? How
do I know where to start?

949
01:09:15.039 --> 01:09:18.359
Whoever you're talking to will explain the
process to you. Then we'll send you

950
01:09:18.399 --> 01:09:23.239
an email with all the things that
we're going to do for you and all

951
01:09:23.279 --> 01:09:25.680
the things that we need, and
then we set an appointment with you.

952
01:09:26.399 --> 01:09:29.399
Then you come in and then we
go through all the stuff. We've inputed

953
01:09:29.399 --> 01:09:30.840
everything for you, and we talk
about it, we get to know you.

954
01:09:30.880 --> 01:09:35.039
We stop building a relationship. And
this is not something that once you

955
01:09:35.079 --> 01:09:39.159
have your plan This is not something
that you just have and you set it

956
01:09:39.199 --> 01:09:42.520
and forget it. This plan needs
to be revisited. It evolved with you

957
01:09:42.600 --> 01:09:45.880
and the changes in your life,
especially if you're younger and you're having kids

958
01:09:45.880 --> 01:09:48.640
and family things and colleges and stuff. When you're older, what you basically

959
01:09:48.720 --> 01:09:53.800
you're doing is trying to uh any
changes. It's usually health problems and different

960
01:09:53.800 --> 01:09:57.640
things like that, or or a
child might need some more money, or

961
01:09:57.880 --> 01:10:00.479
you know, different plans that happen, and so that's that's what we talk

962
01:10:00.560 --> 01:10:01.920
about. What do we need to
do to change this to change that.

963
01:10:02.479 --> 01:10:05.800
But you know, one of the
things that we do is I told them

964
01:10:05.840 --> 01:10:12.079
every time that we do like a
an analysis of their risk tolerance and their

965
01:10:12.079 --> 01:10:15.560
portfolio. Once it's done, we
run it through from two thousand all the

966
01:10:15.600 --> 01:10:19.840
way up to twenty twenty four.
I want people to see how much money

967
01:10:19.880 --> 01:10:24.560
they would have lost under the plan
of risk tolerance that they have in the

968
01:10:24.560 --> 01:10:28.920
same plan that they had between two
thousand and twenty ten. That has been

969
01:10:28.960 --> 01:10:33.520
the worst era that we've ever gone
through as investors, twice down fifty percent.

970
01:10:33.920 --> 01:10:38.359
So if if there's too much risk, you'll lower that risk. Because

971
01:10:38.399 --> 01:10:41.439
can we have that again. Of
course maybe we don't, maybe we could.

972
01:10:41.680 --> 01:10:45.159
Nobody knows, but I want them
to know pretty much. Can they

973
01:10:45.319 --> 01:10:50.039
tolerate a fifteen percent forty percent moved
down? People quite like to make money,

974
01:10:50.079 --> 01:10:53.720
but they quite hate to lose it, right, So you always have

975
01:10:53.760 --> 01:10:56.399
to look at what you could have
lost on the other side. You have

976
01:10:56.479 --> 01:11:00.000
to. And the one thing is
a financial advisor that never gets credit for

977
01:11:00.039 --> 01:11:04.359
it's the things we sell before they
go down, the things that go down

978
01:11:04.479 --> 01:11:09.039
fifty one hundred points after you sell
them, but it doesn't show up because

979
01:11:09.279 --> 01:11:12.560
it's gone. It's gone, right, but everybody you know. But when

980
01:11:12.560 --> 01:11:14.880
they're going up, you're getting credit
for it. But if you don't get

981
01:11:14.920 --> 01:11:18.359
out, it turns and goes down. What happens. That's why trimming for

982
01:11:18.439 --> 01:11:21.520
granted, at some point in our
lives, I can speak to that too,

983
01:11:23.119 --> 01:11:26.880
But that's a whole nother show.
Honestly, there is zero risk in

984
01:11:26.920 --> 01:11:30.960
this conversation, and it literally is
just a conversation, a cup of coffee,

985
01:11:30.119 --> 01:11:33.079
a way to find out whether you
are on the right track to where

986
01:11:33.119 --> 01:11:35.840
you want to be so that you
can enjoy your retirement. And that's really

987
01:11:35.960 --> 01:12:00.000
ultimately what we're all going for God
One. Hello and welcome to Money Matters.

988
01:12:00.039 --> 01:12:04.079
I'm Sarah Peterson here with Dean Greenberg
and Dylan Greenberg of Greenberg Financial Group.

989
01:12:04.199 --> 01:12:06.880
Hello, gentlemen, Good morning,
Sarah, Good morning. How are

990
01:12:06.920 --> 01:12:11.359
you. We're good, You're good. You're ready to talk money. Money,

991
01:12:12.039 --> 01:12:15.479
Money matters. It is the title
of the show. It matters that

992
01:12:15.520 --> 01:12:19.239
every part of your life. Think
about what thirty five years ago I came

993
01:12:19.319 --> 01:12:25.039
on with that name. It's still
stuck because it always matters thirty five years

994
01:12:25.079 --> 01:12:27.000
ago, as it matters now,
it matters, It will always matter.

995
01:12:27.439 --> 01:12:30.680
And the thing is is it's not
everything, but it certainly helps everything else

996
01:12:30.720 --> 01:12:32.600
fall into place, doesn't it.
When we have peace of mind to know

997
01:12:32.640 --> 01:12:35.520
that we're not gonna run out of
money, we can go and enjoy the

998
01:12:35.520 --> 01:12:39.720
rest of our life. Well,
it becomes more and more something as you

999
01:12:39.760 --> 01:12:42.439
get closer to a retirement. When
you're making money, you have a steady

1000
01:12:42.439 --> 01:12:45.159
pay check, well, during your
working years, you're not as nervous about

1001
01:12:45.159 --> 01:12:47.039
where's the next checking to come from. Once you retire and you stop getting

1002
01:12:47.039 --> 01:12:50.800
that constant check, then you're nervous
because you're like, am I going to

1003
01:12:50.880 --> 01:12:54.279
run out of this money? Am
I? Gonna have enough? Am I

1004
01:12:54.279 --> 01:12:57.199
gonna live too long? Those questions
start popping your head, and then it's

1005
01:12:57.199 --> 01:13:00.199
that whole mortality idea that pops in
your head that you don't even want to

1006
01:13:00.199 --> 01:13:02.600
think about another way, you know, and then the mortality thing. I

1007
01:13:02.600 --> 01:13:06.079
think it actually kind of flips the
switch because it's happened to us. You

1008
01:13:06.079 --> 01:13:11.079
know, we had a similar situation
traveling. Somebody gets hurt, it reachs

1009
01:13:11.119 --> 01:13:16.039
you realize, okay, life is
short. And then well it sounds think

1010
01:13:16.159 --> 01:13:20.399
like bad things happen when you travel. I don't know what too much.

1011
01:13:20.920 --> 01:13:25.600
That's probably about dancing and your husband. You have too many beds in there.

1012
01:13:25.640 --> 01:13:30.039
We trips off of everything. But
you know, like when unexpected life

1013
01:13:30.199 --> 01:13:32.760
you know happens, which it does
all the time, you realize, okay,

1014
01:13:32.800 --> 01:13:34.840
life is short. So then you're
like, oh, you know,

1015
01:13:35.359 --> 01:13:39.560
let's just live, you know.
And it's like so it can kind of

1016
01:13:39.560 --> 01:13:42.920
throw you into the other perspective of
hey, we've been so good at saving

1017
01:13:42.920 --> 01:13:45.000
our whole life. You know,
what are we saving for if we can't

1018
01:13:45.079 --> 01:13:47.159
enjoy it? Well, it's so
true that you know, people do and

1019
01:13:47.199 --> 01:13:51.399
we see people that come in that
have so much money and they don't even

1020
01:13:51.399 --> 01:13:58.239
spend what they're making and income off
of it because it's so used to I

1021
01:13:58.439 --> 01:14:00.960
want to be thrifty. Well,
well, thrifty is good, but some

1022
01:14:01.079 --> 01:14:03.920
time you got to loosen it up
because the only thing that's going to happen,

1023
01:14:04.239 --> 01:14:09.119
you're going to pass that on to
somebody, the government, your family,

1024
01:14:09.840 --> 01:14:14.800
somebody, charities. Right, why
not learn to And I always talk

1025
01:14:14.880 --> 01:14:17.359
to them, what's something you really
want to do? Tell me something you

1026
01:14:17.399 --> 01:14:20.520
want to do, And there's always
something they just don't say, and then

1027
01:14:20.520 --> 01:14:24.039
they finally tell you, and then
they have to agree on it, and

1028
01:14:24.119 --> 01:14:27.039
they say, well, then make
that happen. Make it happen. And

1029
01:14:27.079 --> 01:14:30.199
it's hard for people because their personalities
are different. And people that grew up

1030
01:14:30.680 --> 01:14:34.720
when their parents and all went through
the depression and stuff and they remember that.

1031
01:14:35.119 --> 01:14:38.399
But then I say, okay.
Then the next thing is if you

1032
01:14:38.439 --> 01:14:40.920
don't want to spend the money and
it's just going to get passed on,

1033
01:14:40.960 --> 01:14:46.119
think about this why you are alive. Make memories with your family, Make

1034
01:14:46.199 --> 01:14:50.159
memories with your family, Take them
on trips with you if you want to

1035
01:14:50.159 --> 01:14:54.720
do that, do something that they
want, but you know what, Teach

1036
01:14:54.760 --> 01:14:59.920
them how to invest, teach them
how to invest. And if you teach

1037
01:15:00.159 --> 01:15:02.199
how to invest and you make sure
they're putting money away for the retirements,

1038
01:15:02.359 --> 01:15:05.920
then you're doing a good thing rather
than giving them money later on when you

1039
01:15:06.000 --> 01:15:10.920
pass on, because when you do
that, you don't know what the situation

1040
01:15:11.039 --> 01:15:12.920
is. What if they have a
lot of credit cards, they're just going

1041
01:15:13.000 --> 01:15:15.239
to pay off credit cards and do
it again, you know, but set

1042
01:15:15.279 --> 01:15:18.840
them up for retirement. Then it's
important to start good habits early. And

1043
01:15:18.840 --> 01:15:23.359
that's why I think it's so great
to bring your family in at a young

1044
01:15:23.399 --> 01:15:28.199
age and start the habits young so
you don't develop those habits and racking up

1045
01:15:28.199 --> 01:15:31.560
credit cards that I have a lot
of family friends they have, you know,

1046
01:15:32.279 --> 01:15:39.000
monstrous bills from there from school,
and you know, they get into

1047
01:15:39.000 --> 01:15:42.239
the workforce and they're just trying to
live their life and those bills they just

1048
01:15:42.319 --> 01:15:45.399
they're like a weight on you.
Well, that's it. It's talking about

1049
01:15:45.399 --> 01:15:48.159
college, okay, you know,
And that's part of the planning process.

1050
01:15:48.279 --> 01:15:54.560
I absolutely talk to people about what
their process is for putting money away for

1051
01:15:54.680 --> 01:15:57.800
education. So many people want to
put it away just for the kids.

1052
01:15:57.800 --> 01:15:59.760
I said, what happens if that
kid doesn't want to go to college.

1053
01:16:00.119 --> 01:16:01.960
That was that that kid turns out
to do things that you don't want him

1054
01:16:01.960 --> 01:16:04.640
to do. If you put it
in a five two nine is that does

1055
01:16:04.680 --> 01:16:08.359
it have to stay there? If
there's other ways too? Also, what

1056
01:16:08.439 --> 01:16:11.479
happens if the kid gets a scholarship, need money, there's good reasons not

1057
01:16:11.520 --> 01:16:14.039
to use the money. That's the
greatest thake. Yeah, exactly when he

1058
01:16:14.079 --> 01:16:16.479
got a scholarship, I'm so happy. Yeah, pay for half of it.

1059
01:16:16.560 --> 01:16:20.319
But uh, five two nine plans
are good in some circumstances, but

1060
01:16:20.319 --> 01:16:24.359
for more often than not, we
like to talk about a roth ira because

1061
01:16:24.359 --> 01:16:26.800
say your parent, you want to
put money away for your kid, and

1062
01:16:26.800 --> 01:16:29.319
you're just you just know five twenty
nine plan is the way to go.

1063
01:16:29.680 --> 01:16:31.479
There's you can only do so much
with that. It has to be used

1064
01:16:31.479 --> 01:16:35.920
for school expenses, dorm rooms,
books, anything like that. But what

1065
01:16:35.920 --> 01:16:39.479
happens if your kid is a scholarship
and they don't need any of that money,

1066
01:16:39.600 --> 01:16:41.600
it has to stay there. If
you don't. If you have another

1067
01:16:42.159 --> 01:16:44.560
kid that's younger, you can stay
there for them. If you have no

1068
01:16:44.640 --> 01:16:47.520
other kids, it just stays there
until it's open for for like at least

1069
01:16:47.520 --> 01:16:50.199
fifteen years. Then you can move
some of it up to like thirty five

1070
01:16:50.199 --> 01:16:55.039
thousand dollars into your son, like
your child's name as a roth ira.

1071
01:16:55.279 --> 01:16:58.239
So why we talk about investing in
a roth ira is say you put seven

1072
01:16:58.279 --> 01:17:00.960
thousand and eight thousand dollars away each
year in a roth ira. Your child

1073
01:17:01.000 --> 01:17:04.039
gets a scholarship, they don't need
any of that money. So now you

1074
01:17:04.079 --> 01:17:08.680
have a rough ira that you can
just build for retirement, or they need

1075
01:17:08.760 --> 01:17:11.119
some money here and there. You
can always take out of your roth ira

1076
01:17:11.840 --> 01:17:15.439
for education expenses, or they just
need some extra money something like that,

1077
01:17:15.560 --> 01:17:17.279
or they don't get any scholarship,
but you have a rough ira, they

1078
01:17:17.319 --> 01:17:21.600
can use that towards education expenses.
And it's all tax free. Especially if

1079
01:17:21.640 --> 01:17:25.119
you're say he has your kids later
and you're over fifty nine and a half.

1080
01:17:25.199 --> 01:17:28.640
Everything in that roth ira is tax
free. Your principal will always be

1081
01:17:28.720 --> 01:17:30.640
tax free. You put away fifty
thousand dollars, you can use all fifty

1082
01:17:30.680 --> 01:17:34.920
thousand dollars for their college expenses,
or if they don't need it, you'll

1083
01:17:34.960 --> 01:17:39.439
leave it. You're like me and
you have four kids and you hope that

1084
01:17:39.439 --> 01:17:44.239
they all go to college. You
basically just cry, I just hope they

1085
01:17:44.279 --> 01:17:46.960
all get but going back to college, okay, And I told him if

1086
01:17:47.000 --> 01:17:49.760
he didn't have a scholarship, there's
no way I would have paid for the

1087
01:17:49.840 --> 01:17:55.079
NBA he got. You know,
it was really this is the stuff that

1088
01:17:55.159 --> 01:17:59.039
teaching you. This is high school
stuff. They have done down college so

1089
01:17:59.159 --> 01:18:04.439
much. It's almost like let kids
go, Like the pandemic taught me this,

1090
01:18:04.560 --> 01:18:08.520
go online to get your all those
courses you need at the beginning.

1091
01:18:09.119 --> 01:18:12.920
You know, if you can't afford
to send them there for the college experience.

1092
01:18:12.960 --> 01:18:15.600
It's so expensive right now. But
then then they're getting rid of these.

1093
01:18:15.720 --> 01:18:18.760
And don't get me started out either, all these college loans, you

1094
01:18:18.760 --> 01:18:23.640
know what I mean, what are
you teaching people? You're teaching people that

1095
01:18:23.720 --> 01:18:27.720
you can make contracts and it doesn't
matter. So why what's the difference between

1096
01:18:27.760 --> 01:18:30.800
having a school loan and not paying
and having a mortgage and not paying.

1097
01:18:30.960 --> 01:18:35.479
Oh, this sounds like a whole
nother conversation between We're gonna take a quick

1098
01:18:35.479 --> 01:18:39.079
commercial break. That bone number at
the bottom of the screen is five two

1099
01:18:39.199 --> 01:18:43.239
zero five four four four nine zero
nine. We will take a quick break

1100
01:18:43.239 --> 01:18:45.960
and we come back. We'll let
Dean just tell you why your money Matters.

1101
01:18:46.000 --> 01:18:55.359
We'll see you soon. This is
Money Matters with Dean Greenberg of the

1102
01:18:55.399 --> 01:18:59.359
Greenberg Financial Group, and I'm Spike
Spangled Dean. What really got you started

1103
01:18:59.560 --> 01:19:02.000
in this industry? It was because
I was working for Ford Motor Company.

1104
01:19:02.159 --> 01:19:05.000
I had ordered all the dealerships and
I kind of looked at things and I

1105
01:19:05.039 --> 01:19:08.159
said, this is not what I
want. So I went back and got

1106
01:19:08.239 --> 01:19:11.600
my MBA in finance and investments and
said I'm going to work on Wall Street.

1107
01:19:11.600 --> 01:19:14.319
I didn't really know the journey I
was going to have until later on

1108
01:19:14.640 --> 01:19:17.840
nineteen eighty seven when the market crashed
Black Monday, Black Monday. The only

1109
01:19:17.880 --> 01:19:23.560
person in a company of six hundred
and some odd brokers I was buying IBM

1110
01:19:23.640 --> 01:19:26.479
and I opened a five hundred thousand
dollar accounts. So they say to me,

1111
01:19:26.560 --> 01:19:29.079
hey, this is unbelievable. How
did you do this? What did

1112
01:19:29.119 --> 01:19:31.159
you do? I just said,
because I thought it was the right thing

1113
01:19:31.199 --> 01:19:34.000
to do. Down twenty percent,
it was probably a good time to buy.

1114
01:19:34.039 --> 01:19:38.479
And I was more of a technician
and an advisor and an educator at

1115
01:19:38.520 --> 01:19:41.960
that time. A long story short, they tell me a week later,

1116
01:19:42.039 --> 01:19:45.039
I never owned the stock. The
back offices back then could not handle a

1117
01:19:45.079 --> 01:19:47.800
billion shares a day. So a
week and a half later, they tell

1118
01:19:47.800 --> 01:19:50.720
me I don't own it and I
needed to call a client to tell them

1119
01:19:50.840 --> 01:19:54.680
they didn't own the stock, and
I told them that they should pay the

1120
01:19:54.680 --> 01:19:57.399
client. Next day I came in
my box of stuff was in there.

1121
01:19:57.439 --> 01:19:59.680
They told me I was fired,
and I went to go see the guy

1122
01:19:59.800 --> 01:20:01.439
knew to go get a job,
and he said, Dean, I'd hire

1123
01:20:01.479 --> 01:20:03.560
you tomorrow, but you need to
start your own business. I laughed at

1124
01:20:03.600 --> 01:20:05.319
him and said, how am I
going to start my own business? I

1125
01:20:05.319 --> 01:20:08.880
only have five thousand dollars? He
said, figure it out. We're all

1126
01:20:08.920 --> 01:20:13.079
sales been you educate, you care
about the markets, you care about your

1127
01:20:13.079 --> 01:20:17.119
clients. So I guess I figured
it out. Hello, and welcome back

1128
01:20:17.159 --> 01:20:21.079
to Money Matters. I'm Sarah Peterson
here with Dean Greenberg and Dylan Greenberg,

1129
01:20:21.119 --> 01:20:26.199
and we're talking about so many things
right now, but we really need to

1130
01:20:26.239 --> 01:20:30.399
dive into the financial plan and why
it's so important because everybody's retirement is different,

1131
01:20:30.479 --> 01:20:33.800
right Mine's going to be different than
yours, and depending on also what

1132
01:20:33.880 --> 01:20:36.800
you did for a living, if
you were a retail business owner. I

1133
01:20:36.840 --> 01:20:41.479
know you guys, deal with federal
employees a lot. Everybody's retirement plan is

1134
01:20:41.479 --> 01:20:45.560
going to be different. Yeah,
I mean going towards federal employees. If

1135
01:20:45.600 --> 01:20:47.600
you're a federal employee, you know
your retirement system is much different than a

1136
01:20:47.640 --> 01:20:53.239
regular employee because you have the fagily, the FHP that's the healthcare and the

1137
01:20:53.279 --> 01:20:56.840
life insurance. You have your TSP, which is the government version of the

1138
01:20:56.880 --> 01:21:00.000
four to one K, but then
you also have pensions. The federal pens

1139
01:21:00.720 --> 01:21:02.800
is a huge thing because you get
that on top of solid security. So

1140
01:21:02.920 --> 01:21:05.760
they have all these different things that's
going to their retirement plan. And that's

1141
01:21:05.760 --> 01:21:10.319
why you got to bring it all
together and see where you sit and how

1142
01:21:10.359 --> 01:21:12.880
you sit, because you're going to
be different than your friend that works at

1143
01:21:12.960 --> 01:21:15.600
Raytheon or your friend that works at
anywhere else other than the government. It's

1144
01:21:15.600 --> 01:21:18.680
going to be much different. So
we want to look at what's your pension

1145
01:21:18.800 --> 01:21:21.119
when you want to turn it on, when you want to turn SOLI security

1146
01:21:21.159 --> 01:21:25.199
on. Because of that pension,
maybe you can wait until age seventy or

1147
01:21:25.199 --> 01:21:27.960
something like that. Maybe your TSP
will just cover all of it and you

1148
01:21:27.960 --> 01:21:30.359
don't even have to worry about it, and you got extra spending money because

1149
01:21:30.399 --> 01:21:33.159
of your pension, and you don't
want to keep Fegley because those premiums just

1150
01:21:33.319 --> 01:21:39.279
skyrocket when you retire, which they
do, they go up almost tenfold whenever

1151
01:21:39.319 --> 01:21:43.199
you retire. Their health insurance the
usually they keep because that's going good.

1152
01:21:43.239 --> 01:21:45.880
But you don't ever know in every
federal employee, even though it is generalized,

1153
01:21:46.079 --> 01:21:49.079
it's still a unique situation because of
what you did with your TSP,

1154
01:21:49.359 --> 01:21:53.479
how long you were there. Do
you have active military service because then that's

1155
01:21:53.479 --> 01:21:56.560
another pension. Do you have disability
service, that's another pension. So there's

1156
01:21:56.560 --> 01:21:58.720
all these different pensions that come into
play, and that's why we want to

1157
01:21:58.760 --> 01:22:03.279
sit down and see what your federal
retirement would look like. Pensions are a

1158
01:22:03.359 --> 01:22:05.920
thing kind of of the past too, I mean except for the government.

1159
01:22:06.039 --> 01:22:10.520
Yeah yeah, so that's its own
unique without a doubt. Yeah, I

1160
01:22:10.520 --> 01:22:13.319
mean, like I remember, my
grandpa had a pension from AT and T.

1161
01:22:13.680 --> 01:22:15.439
He worked there for thirty years,
got his pension, then he got

1162
01:22:15.479 --> 01:22:17.800
solid security. That's not a thing
anymore. And that's why they're hounding on

1163
01:22:17.960 --> 01:22:21.199
doing full four to one case because
they want you to put your retirement into

1164
01:22:21.239 --> 01:22:24.399
your own hands, and like that's
what we've been saying, and that's why

1165
01:22:24.399 --> 01:22:27.399
we try and talk to people in
the twenties and grandkids that are eighteen.

1166
01:22:27.439 --> 01:22:30.760
We try and start them because like
people my age in their twenties are not

1167
01:22:30.760 --> 01:22:33.239
going to probably have social security.
It's really interesting too. I don't know

1168
01:22:33.279 --> 01:22:36.039
if you feel this way, but
when you start talking to younger people,

1169
01:22:36.279 --> 01:22:41.880
like teenagers, they are really aware
of what's going on in the world,

1170
01:22:41.960 --> 01:22:46.479
and they are their expectations of their
lifestyle is different. I felt like our

1171
01:22:46.520 --> 01:22:51.560
generation, my generation, expected to
live better than the previous They do not.

1172
01:22:53.039 --> 01:22:55.479
They don't think that they're going to
live as well as we do.

1173
01:22:55.520 --> 01:22:59.119
They have lowered their expectations. Well, I think they have different changes ideas

1174
01:22:59.119 --> 01:23:01.520
in their mind. I mean,
they would love to work thirty two hours

1175
01:23:02.239 --> 01:23:06.600
and have more social activities. Then
to go ahead and work hard and get

1176
01:23:06.640 --> 01:23:10.720
ahead. I mean, think about
it. Are my grandparents, even my

1177
01:23:10.720 --> 01:23:15.119
great grandparents to my grandparents to my
parents, was harder you work, the

1178
01:23:15.159 --> 01:23:18.479
most successful you can be. Well, I think you know, there's a

1179
01:23:18.520 --> 01:23:23.319
lot of people that have migrated over
here from like Europe and all, and

1180
01:23:23.399 --> 01:23:27.560
their attitudes are totally different, much
more socialistic. And this is why I

1181
01:23:27.600 --> 01:23:30.920
tell people, especially a lot of
the kids we coach. Hey, it

1182
01:23:30.000 --> 01:23:33.880
used to be seventy five percent of
the people were on time, worked hard,

1183
01:23:34.079 --> 01:23:38.039
did the things that are right,
and it was competition. If you

1184
01:23:38.119 --> 01:23:41.800
do those things, now you and
maybe twenty five percent of the group,

1185
01:23:41.880 --> 01:23:44.720
you can be successful and get what
you want because at the end of the

1186
01:23:44.840 --> 01:23:48.119
day, employers are still looking for
the best employees. The people that are

1187
01:23:48.159 --> 01:23:53.119
doing that are going to be the
most successful. People are so used to

1188
01:23:53.199 --> 01:23:57.439
getting handouts, getting things given to
them and don't want the lifestyle. They

1189
01:23:57.479 --> 01:23:59.600
want the lifestyle, they don't want
to pay for it. They want other

1190
01:23:59.640 --> 01:24:02.640
people to pay for it. Another
thing that we've seen from people that we've

1191
01:24:02.640 --> 01:24:05.359
talked to from age twenty to age
forty five is that they want to live

1192
01:24:05.399 --> 01:24:08.880
in the now. They don't want
to think about retirement because that's so far

1193
01:24:08.920 --> 01:24:11.720
away. They're making good money now, they'll spend it all and not worry

1194
01:24:11.720 --> 01:24:15.359
about putting any money away for the
future because whatever, it's pretty much their

1195
01:24:15.439 --> 01:24:17.960
thought process. So they'll live a
lavish lifestyle now, but they're gonna get

1196
01:24:17.960 --> 01:24:19.720
in trouble later. And that's like
I mean, if you look at pro

1197
01:24:19.760 --> 01:24:23.880
athletes, the majority of them go
broke because they're living the lavish lifestyle,

1198
01:24:23.920 --> 01:24:26.560
like they're getting paid ten million dollars
a year for the rest of their life,

1199
01:24:26.680 --> 01:24:28.680
but all of a sudden, they
retire, they don't have that check

1200
01:24:28.680 --> 01:24:30.000
coming in. They run out in
five years. They did a thing.

1201
01:24:30.119 --> 01:24:32.680
One of the banks did an advertisement
at the Signs game and they had the

1202
01:24:32.680 --> 01:24:34.760
Sons players and they were asking each
one of them, what did you do

1203
01:24:34.840 --> 01:24:38.640
with your first check? What'd you
do with your first check? And one

1204
01:24:38.680 --> 01:24:43.119
said I bought a Louis Guiton backpack, and then another one said I sent

1205
01:24:43.199 --> 01:24:47.319
it to my mom and she paid
off her home and everyone ooh. And

1206
01:24:47.359 --> 01:24:51.199
I was thinking, isn't that interesting, given your first big paycheck tells a

1207
01:24:51.199 --> 01:24:55.399
lot about who you are what you
choose to do with it. Yeah,

1208
01:24:55.439 --> 01:24:57.760
exactly. I mean in that sense
too, one check, they're gonna probably

1209
01:24:57.760 --> 01:24:59.520
get more, but it's like,
yeah, if you live like day to

1210
01:24:59.600 --> 01:25:01.279
day like you're gonna run out of
money. I remember there was one story

1211
01:25:01.279 --> 01:25:05.199
of this athlete he bought five mansions
because he gotta. He signed for ten

1212
01:25:05.199 --> 01:25:10.520
million dollars and bought five two million
dollar houses because he didn't understand he had

1213
01:25:10.560 --> 01:25:15.119
nobody in his corner that was looking
out for him in really nice areas and

1214
01:25:15.000 --> 01:25:18.880
appreciate we deal with some athletes,
and one of the things that they appreciate

1215
01:25:18.920 --> 01:25:23.159
with us is that we're not just
thinking about how to invest the money.

1216
01:25:23.680 --> 01:25:27.760
We're thinking about that transition period when
they stop and to when they have to

1217
01:25:27.800 --> 01:25:30.359
do something else, and we talk
to them about it, and we put

1218
01:25:30.399 --> 01:25:33.520
money away for that transition period.
Again, this is like financial therapy because

1219
01:25:33.520 --> 01:25:38.199
that's a big emotional transition to and
we budget them if they don't let us

1220
01:25:38.199 --> 01:25:41.479
put them on a budget, if
they don't let us put money away for

1221
01:25:41.600 --> 01:25:44.079
when they're older, like you know, these guys in the twenties and make

1222
01:25:44.119 --> 01:25:45.960
millions of dollars, right, You've
got to put money away. So if

1223
01:25:46.000 --> 01:25:49.399
you screw up your life and spend
everything, when you turn fifty nine and

1224
01:25:49.399 --> 01:25:54.039
a half sixty, you got still
millions of dollars coming to you and you

1225
01:25:54.039 --> 01:25:57.000
don't have to put away a lot
now for that to happen. But yeah,

1226
01:25:57.039 --> 01:25:59.560
we talked to him and all we
deal with it, and they love

1227
01:25:59.640 --> 01:26:00.920
the fact that we do, and
we spread it out for them and we

1228
01:26:01.000 --> 01:26:04.319
help them through everything, and they
will call us on almost every single thing

1229
01:26:04.479 --> 01:26:06.680
they have to do, buy a
house, buy a call on interes straight

1230
01:26:06.720 --> 01:26:11.199
because they don't know they're in their
twenties, what do they know right?

1231
01:26:12.079 --> 01:26:14.600
Well, No, The thing is
is that all of these we talked about

1232
01:26:14.640 --> 01:26:16.960
this in the show, all these
decisions, they are emotional as much as

1233
01:26:17.119 --> 01:26:21.239
they are you know, financial,
And I love the fact that you can

1234
01:26:21.279 --> 01:26:26.239
walk people through all the scenarios so
you can kind of see, Okay,

1235
01:26:26.359 --> 01:26:29.039
if this is the way my life
plays out, then this is I'll still

1236
01:26:29.079 --> 01:26:34.199
be okay. You can't compromise yourself
either. You know, you have to

1237
01:26:34.920 --> 01:26:40.600
believe what you're telling someone is the
right thing for them, and they want

1238
01:26:40.640 --> 01:26:42.920
to do something totally different, sometimes
you just got to let them go.

1239
01:26:43.439 --> 01:26:45.359
Well, you talked about budget.
I want you to talk a little bit

1240
01:26:45.359 --> 01:26:46.359
more about this because you know,
I call it the B word, But

1241
01:26:47.520 --> 01:26:51.000
it's very important that we understand.
If you ask me now what my budget

1242
01:26:51.039 --> 01:26:53.800
is, it can be a lot
different than it is. You know,

1243
01:26:53.840 --> 01:26:58.840
when I retire. So how do
we determine our budget for retirement when we

1244
01:26:58.880 --> 01:27:00.079
know the income is not coming in
in the same way. Like I'll tell

1245
01:27:00.079 --> 01:27:04.880
you, Dylan put together a great
revenue expense budget for him and we did

1246
01:27:04.880 --> 01:27:08.039
it for years. Okay, I
said, okay, let's do this Dylan.

1247
01:27:08.119 --> 01:27:11.199
To make sure this works, I
did it on myself all the things,

1248
01:27:11.560 --> 01:27:14.760
all the way down to the very
little might do things of everything that's

1249
01:27:14.760 --> 01:27:16.800
spent on the credit card, okay
credit A couple ways are going on the

1250
01:27:16.800 --> 01:27:20.079
credit card. So you got to
know exactly where you are and where the

1251
01:27:20.079 --> 01:27:25.159
money's going every single month, quarter
year. And it's a financial statement,

1252
01:27:25.159 --> 01:27:29.720
no different than a business financial statement. And he's got at a great spreadsheet

1253
01:27:29.960 --> 01:27:33.039
that's able to do this very easily
because most people aren't that complicated. Explain

1254
01:27:33.079 --> 01:27:34.960
it. Yeah, I mean really, like you said, it's just put

1255
01:27:35.000 --> 01:27:38.960
it in your itemize. It's like
itemizing your expenses. But really what it

1256
01:27:39.000 --> 01:27:41.159
does is keep you accountable for what
you spend it each month, and you

1257
01:27:41.199 --> 01:27:43.760
want to put it in, I
do it. I do it weekly so

1258
01:27:43.800 --> 01:27:45.199
I know what I'm doing. I
do it every Friday and then every Monday

1259
01:27:45.199 --> 01:27:47.840
to see what happens on the weekend
versus during the week. It just tends

1260
01:27:47.840 --> 01:27:50.479
to be different. But and if
you're dating or not dating, yeah,

1261
01:27:50.680 --> 01:27:55.039
yeah, there's always things that are
changing. But the idea is you hold

1262
01:27:55.079 --> 01:27:58.239
yourself accountable but it's only you doing
it. You're not telling other people or

1263
01:27:58.239 --> 01:28:00.720
anything. You're just holding yourself accountable
to it. And that's the biggest thing

1264
01:28:00.760 --> 01:28:02.279
because then you can kind of hone
in what your budget is. If you're

1265
01:28:02.359 --> 01:28:04.319
looking at a month, you're not
going to figure it out after one month

1266
01:28:04.359 --> 01:28:08.279
because maybe you had a random expense
that was more, or you just didn't

1267
01:28:08.279 --> 01:28:11.000
do anything and it was a lot
less. You say that's your budget,

1268
01:28:11.079 --> 01:28:13.359
and all a sudden, the next
month it doubles. You got to give

1269
01:28:13.359 --> 01:28:15.880
yourself like six months to look at
it and see what the average is.

1270
01:28:15.880 --> 01:28:17.439
And we go through it that way, and when we do the financial plan

1271
01:28:17.479 --> 01:28:20.479
for people that come in, we
kind of have them give us all expenses

1272
01:28:20.520 --> 01:28:23.880
and what their revenue is. We
kind of do a budget and we said,

1273
01:28:23.920 --> 01:28:26.720
let's hell see how this works for
the next two years, all right,

1274
01:28:26.960 --> 01:28:29.399
and then they get a good handle
for it. Are they gonna need

1275
01:28:29.439 --> 01:28:32.359
more money or they gonna need less
money? And it works, but you

1276
01:28:32.399 --> 01:28:35.119
need a one or two years.
You need two years once they retire and

1277
01:28:35.199 --> 01:28:39.039
to see how much they're really gonna
spend. And usually they're gonna be more

1278
01:28:39.039 --> 01:28:42.279
nervous in those first two years,
like We've been talking about afraid of running

1279
01:28:42.279 --> 01:28:44.520
out of money, so they'll be
more nervous, they'll be more cautious on

1280
01:28:44.560 --> 01:28:45.399
it. But then once they realize
it, like oh, we are good,

1281
01:28:45.439 --> 01:28:48.079
they're gonna start spending more and go
taking those lavist trips that we kept

1282
01:28:48.119 --> 01:28:51.880
telling them they could. The best
news is when you can tell someone you

1283
01:28:51.920 --> 01:28:55.000
know, hey, you can spend
more than you are and you can actually

1284
01:28:55.079 --> 01:28:57.640
enjoy your life. That's what we're
all doing this for. So if you're

1285
01:28:57.680 --> 01:29:00.560
not on that path and you're not
sure where you are, this is when

1286
01:29:00.560 --> 01:29:02.039
you want to make that call so
you can find out whether or not you

1287
01:29:02.039 --> 01:29:05.399
can enjoy your retirement the way you
always dreamed. The number is five to

1288
01:29:05.399 --> 01:29:10.359
two zero five four four four nine
zero nine. We'll take a quick corucial

1289
01:29:10.399 --> 01:29:13.199
break. We'll come back and Dean
and Dylan will tell us why your money

1290
01:29:13.199 --> 01:29:15.439
matters. See you soon. This
is where I get to ask you the

1291
01:29:15.520 --> 01:29:17.399
questions that they have, which are
really the questions that we all have,

1292
01:29:17.520 --> 01:29:23.720
right, and you do radio people
have questions. They're really knowledgeable questions,

1293
01:29:24.760 --> 01:29:29.159
right most of the time. Dean
likes the questions that make him, you

1294
01:29:29.199 --> 01:29:32.920
know, angry, I don't know
angry challenge. Now that we don't do

1295
01:29:32.960 --> 01:29:35.359
the radio show live on Sundays,
the questions have got a little more thought

1296
01:29:35.359 --> 01:29:39.159
out because they got to email us
or call us okay, so they think

1297
01:29:39.159 --> 01:29:41.760
about it during the week or from
the previous show and then ask us,

1298
01:29:41.920 --> 01:29:44.439
okay, so you're watching the show
right now, try to think of the

1299
01:29:44.439 --> 01:29:47.079
most challenging questions you can and then
send us over those because he wants to

1300
01:29:47.119 --> 01:29:49.279
be challenged, and I love that, but I like it when it's helping

1301
01:29:49.319 --> 01:29:53.520
people something to really helps somebody they
think out and this is a personal question

1302
01:29:53.600 --> 01:29:57.279
from them to get an answer absolutely
well. I mean, look, we

1303
01:29:57.319 --> 01:30:00.079
all have it. This is a
very vulnerable time for a lot of people.

1304
01:30:00.399 --> 01:30:03.359
It's not easy to you know,
stand in front of somebody and ask

1305
01:30:03.359 --> 01:30:06.159
these questions. So I want to
be the face and the voice of these

1306
01:30:06.279 --> 01:30:10.359
people and maybe we can help people
we don't even know are sitting in there

1307
01:30:10.399 --> 01:30:13.880
and have the same issues. But
I thought this was a really great question

1308
01:30:13.920 --> 01:30:17.479
from Anne. She asked if should
long term care planning be something that I

1309
01:30:17.520 --> 01:30:20.840
think about? And this is this
is a hot button topic for me.

1310
01:30:23.760 --> 01:30:27.520
You, I mean we talked about
it on all our shows that one of

1311
01:30:27.560 --> 01:30:30.760
the big one of the biggest hurdles
that people have to get over is when

1312
01:30:30.760 --> 01:30:34.880
they get older and there's health problems
that they didn't expect. So you have

1313
01:30:34.960 --> 01:30:39.439
to look at and that's part of
our financial plan again. You look have

1314
01:30:39.479 --> 01:30:43.279
to look if something happens, how
are you going to take care of it?

1315
01:30:43.479 --> 01:30:45.640
We all have like you know,
hopefully you have health insurance. You

1316
01:30:45.680 --> 01:30:48.439
need to have health insurance or you
have Medicare or something. But the difference

1317
01:30:48.439 --> 01:30:51.560
in that is one. But we're
talking about if you have to go to

1318
01:30:51.600 --> 01:30:54.880
someplace, if you have to go
to a home or it's home or in

1319
01:30:55.000 --> 01:30:58.039
home care or whatever, how are
you going to pay for that? Will

1320
01:30:58.079 --> 01:31:01.199
it? Will it? Will it
be disruptive to your spouse who you're just

1321
01:31:01.279 --> 01:31:04.880
living from month to month on And
if oh, then you have to plan

1322
01:31:04.960 --> 01:31:09.279
for that by having insurance. If
you're wealthy enough, you can take care

1323
01:31:09.319 --> 01:31:12.439
of yourself. But it all depends
on the situation. Yeah, and there's

1324
01:31:12.520 --> 01:31:15.880
the traditional long term care policies which
don't tend to be the most popular anymore

1325
01:31:15.880 --> 01:31:18.439
because now you have annuities where they
have long term care writers which in case

1326
01:31:18.560 --> 01:31:21.199
you don't need it, you have
the annuity you have if you never use

1327
01:31:21.239 --> 01:31:24.479
anything in the nudy, at least
the principle could be there for your errors.

1328
01:31:24.960 --> 01:31:27.800
So that's one route to take.
And then say you are just you're

1329
01:31:28.159 --> 01:31:30.800
a widow or a widow er and
you need to go into long term care,

1330
01:31:30.800 --> 01:31:31.760
but you're still own your house.
It's all paid out, right,

1331
01:31:31.800 --> 01:31:34.880
it has about for says, seven
hundred thousand dollars. You could sell that

1332
01:31:34.960 --> 01:31:39.640
house and that could become your long
term care policy. So there's a couple

1333
01:31:39.640 --> 01:31:43.039
of different routes to take. It
obviously depends on your situation, but the

1334
01:31:43.079 --> 01:31:45.479
long term traditional policy isn't the most
popular anymore. If you got it thirty

1335
01:31:45.520 --> 01:31:48.000
years ago, twenty years ago,
those were much better and they're still going

1336
01:31:48.039 --> 01:31:50.720
to pay them and they'll pay off. But there's definitely different routes to take

1337
01:31:50.720 --> 01:31:54.279
nowadays. Look, you've been we
said something about annuities. There's always a

1338
01:31:54.279 --> 01:31:58.199
special time. Sometimes this is one
because if you can be putting money into

1339
01:31:58.199 --> 01:32:00.720
an annuity, you don't really make
much money off of it because you're paying

1340
01:32:00.720 --> 01:32:04.600
for that long term rider. But
if something happens to you, you've got

1341
01:32:04.600 --> 01:32:08.800
protection. If something doesn't happen to
you, at least you get most of

1342
01:32:08.800 --> 01:32:11.439
your money back. You get your
money back plus a little bit of a

1343
01:32:11.520 --> 01:32:14.399
kicker. Yeah, this is a
great example of when an annuity can't come

1344
01:32:14.399 --> 01:32:16.479
into play for your financial plan.
I mean, this is like we were

1345
01:32:16.479 --> 01:32:19.399
talking about the fear of longevity.
This is what people feel like, Oh,

1346
01:32:19.439 --> 01:32:23.000
I might live too long, and
what if I need. I have

1347
01:32:23.000 --> 01:32:26.840
a family member who she's really set, and she talks a lot about wanting

1348
01:32:26.840 --> 01:32:29.800
to build onto her home so that
if she has somebody coming in to live

1349
01:32:29.840 --> 01:32:31.159
with her to take care of her, that they have their own space.

1350
01:32:31.239 --> 01:32:34.159
And I can see that it is
very comforting to her to know that she

1351
01:32:34.479 --> 01:32:38.239
can afford to have somebody come stay
with her, because that's the case,

1352
01:32:38.279 --> 01:32:42.239
because she really is. That's becoming
very popular now. People want to basically

1353
01:32:42.359 --> 01:32:46.800
leave this earth at home. All
right. Obviously, there's times and probably

1354
01:32:47.000 --> 01:32:51.239
Alzheimer's and all the most difficult that
you can't take care of somebody at home.

1355
01:32:51.439 --> 01:32:55.119
But if it's just illness and stuff, a lot of people want to

1356
01:32:55.239 --> 01:32:59.159
want to pass it home. My
dad passed it home. My mom was

1357
01:32:59.199 --> 01:33:01.640
at home most of the time until
she had to go to hospice, all

1358
01:33:01.720 --> 01:33:05.199
right, And what they remember is
being with each other, being at home

1359
01:33:05.239 --> 01:33:08.960
as far as long as I can, and then obviously my dad was with

1360
01:33:08.960 --> 01:33:15.279
my family and then passing this favorite
yeah you know, and it's like it

1361
01:33:15.319 --> 01:33:18.199
was like comforting to us knowing he
was comfortable, but also then he you

1362
01:33:18.199 --> 01:33:21.279
know, they were financially set to
where they could afford to stay in their

1363
01:33:21.279 --> 01:33:25.279
home. And these are all like
parts of that puzzle, right, So

1364
01:33:25.560 --> 01:33:28.399
as we were talking about before,
your home can be that investment where you

1365
01:33:28.439 --> 01:33:30.239
say, well, this is where
I want to you know, focus because

1366
01:33:30.800 --> 01:33:34.560
you know that is everybody's comfort.
Yeah, exactly, And it's a long

1367
01:33:34.640 --> 01:33:38.800
term care is a big part of
the puzzle that you don't want to talk

1368
01:33:38.800 --> 01:33:41.760
about when you're going through it,
but you have to do that plan with

1369
01:33:41.800 --> 01:33:44.159
it. But there's also, like
we were saying, there's multiple avenues to

1370
01:33:44.199 --> 01:33:45.960
take. Rather than just give the
traditional long term care and pay into it

1371
01:33:45.960 --> 01:33:48.960
and hope you just for a long
time, you would lose that money if

1372
01:33:49.000 --> 01:33:51.880
you exactly, you lose your premium
that a ways know about it nowadays.

1373
01:33:51.920 --> 01:33:56.319
At least with life insurance premium,
you knew there's a payout to somebody at

1374
01:33:56.319 --> 01:34:00.640
some time. Hell, long term
care premiums, nobody gets But do I

1375
01:34:00.640 --> 01:34:03.239
think the market has a crash coming
right to say? No, I don't

1376
01:34:03.279 --> 01:34:06.199
unless something comes out out of left
field, and I don't know where it's

1377
01:34:06.199 --> 01:34:11.600
coming from. I do believe the
market's got brought it out more meetings just

1378
01:34:11.760 --> 01:34:15.479
instead of the technical you know,
the technology stocks is there. But are

1379
01:34:15.479 --> 01:34:17.920
those technology stocks done? No.
I think AI is here to stay for

1380
01:34:17.960 --> 01:34:20.720
the next five to ten years.
I think we're going to see incredible changes.

1381
01:34:21.119 --> 01:34:24.880
I believe you stay in the good
quality companies for that. Do I

1382
01:34:24.880 --> 01:34:28.479
think after the election we can have
some problems, Yes, because where the

1383
01:34:28.520 --> 01:34:31.399
interest rates are inflation and it depends
who gets in. But you know,

1384
01:34:31.840 --> 01:34:34.720
we both showed that Republicans and Democrats
just want to spend money. Now,

1385
01:34:34.960 --> 01:34:39.159
until we get somebody that doesn't want
to spend so much money, we are

1386
01:34:39.159 --> 01:34:42.479
going to continue to have inflation.
You cannot keep using the government to spend

1387
01:34:42.560 --> 01:34:45.880
money and think that we're not going
to have inflation every time. And everyone

1388
01:34:45.920 --> 01:34:48.000
says, well, the rates are
normalized now, Well they're not. Yeah,

1389
01:34:48.079 --> 01:34:53.079
the rates might be normalized, but
the prices of things aren't. When

1390
01:34:53.159 --> 01:34:57.039
rates were usually six percent seven percent, houses were one hundred and fifty thousand

1391
01:34:57.119 --> 01:35:00.800
dollars five seven years ago. Now
those same houses, it's a three hundred

1392
01:35:00.840 --> 01:35:02.359
grand, three hundred and fifty.
Then you take the five hundred is now

1393
01:35:02.399 --> 01:35:06.319
a million. And if you going's
going from three percent to seven percent,

1394
01:35:06.399 --> 01:35:11.439
that's a huge difference on paying on
interest. And people can't afford it because

1395
01:35:11.479 --> 01:35:15.279
their salary is having gone up right
now, eleven two hundred and fifty dollars

1396
01:35:15.279 --> 01:35:18.960
more you have to make than you
did two years ago in order to break

1397
01:35:19.079 --> 01:35:23.880
even where with inflation, and employers
can't keep up with that. God they

1398
01:35:23.920 --> 01:35:26.880
don't want they can't, and if
they do, guess what happens? Prices

1399
01:35:26.920 --> 01:35:30.880
go up more. People don't realize
wage inflation doesn't go back. Who's going

1400
01:35:30.960 --> 01:35:35.039
to take less money. We stayed
very steady the wage inflation, and everybody

1401
01:35:35.079 --> 01:35:39.159
was complaining about it. Well,
guess what now we have wage inflation,

1402
01:35:39.399 --> 01:35:42.439
minimum wage, keep raising minimum wage. You can't play a hamburger now for

1403
01:35:42.520 --> 01:35:45.119
we have twenty five seconds left.
I knew this was gonna be got it.

1404
01:35:46.359 --> 01:35:49.039
I didn't mean too No, these
are all important topics, and that's

1405
01:35:49.039 --> 01:35:51.399
why we love the show, and
that's why they'll have to join us for

1406
01:35:51.520 --> 01:35:55.159
the next one. Because we always
have exciting and fun things to talk about,

1407
01:35:55.319 --> 01:35:58.800
and it's why your money matters so
much to us. That phone number

1408
01:35:58.840 --> 01:36:00.439
is five to zero five four four
four nine zero nine ers