Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Remember when it was impossible to misplace the TV remote
because you were the TV remote. Remember when music sounded
like this?
Speaker 2 (00:14):
You?
Speaker 3 (00:15):
Remember when social media was truly social? Hey, Don, how's
it going today?
Speaker 1 (00:20):
Well, this show is all about you. This is fifty
plus with Doug Pipe. Helpful information on your finances, good health,
and what to do for fun. Fifty plus brought to
you by the UT Health Houston Institute on Aging, Informed
Decisions for a healthier, happier life, and by New Promise
(00:43):
Neuropathy Lose the Pain and Knowmness, Give your life Back,
New Promise Neuropathy dot.
Speaker 3 (00:48):
Com and now fifty plus with Doug Pipe.
Speaker 4 (00:52):
All right, welcome aboard, Welcome to one one Tuesday afternoon.
Come here wrestling with this microphone stand.
Speaker 3 (01:02):
That's not a stand?
Speaker 4 (01:02):
Really? What would you call this will clip extension device?
Looks like something you'd see in a dentists office? I think.
In any event, what was supposed to be a pretty
rainy Tuesday. Boy, they threatened us last night on the news,
didn't they, Holy cow, start building your art now, gathering
your animals now. And rainy Tuesdays supposedly going to be
(01:27):
followed by another wet Wednesday and a potentially wet Thursday
low pressure system to the southeast is marching to the northeast. Southwest,
excuse me, is marching to the northeast. This little system
that may or may not become tropical storm Arthur before
(01:47):
it falls apart. We'll just have to all wait and
see on whether or not it develops as it slides
gently off the coast, I guess at any minute now,
And depending on how far it gets offshore and how
much legitimate chance it has for development, we'll just see
(02:10):
whether we get something with a name or just maybe
some pretty heavy rain, probably this afternoon and tonight, maybe
into tomorrow a bit, but by sometime Thursday, it's all
supposed to be over. So again, make sure you got
your medicines that you need, there's anything critical that you
couldn't do without for about seventy two hours, then maybe
(02:32):
go get some more. But otherwise I think we're going
to be okay with this one. I don't want to
jinx anything. I'm not that I'm not really superstitious, But
then again, every time I say something like that, I
knock on wood just to be sure, just to be sure.
And depending on whether you get your weather information from
TV or an online source. We're in for either. Well,
(02:57):
they use the words possibility and chances and all of that.
And I heard them on two different newscasts or weather
casts last night during the news potentially up to ten
inches of rain in some areas and as much as
five inches per hour in some areas. That's the potential.
(03:18):
The forecast that I trust more, and actually the one
the same, the one of a coworker, a different, different forecast,
but from somebody I trust to know her source as well.
Both of the ones we were looking at say, we're
more likely looking at a couple of inches of rain
a day in most of the area. Will there be
(03:38):
isolated street fundy flooding? Probably, there's always there, always is
when we get a heavy rain for more than a
day around here, Somewhere, somehow there will be a street
with water across from curb to curb. And you can
bet that every news station in town is going to
be there getting footage of that flood so that they
can say they were right. I'm not knocking meteorologists. I
(04:02):
know they study hard to learn what they know about
the weather. But what they don't tell you is that
the weather changes. It's just like all the greatest golfers
in the world playing in the Masters, are playing like
this week in the US Open, major tournaments, major tournaments,
and every one of them capable capable of birdying every
(04:25):
hole on the course, but they never do, they never
have and they never will that except for that what
was it Kim Jong un or Kim Jong il, the
not the current leader of North Korea, but the former
leader of North Korea. He was alleged to have shot
eighteen on a golf course one time. That's what they said.
(04:47):
There's also other things about him that they said that
are equally impossible and untrue, but that's just how they
do it over there. So anyway, I don't think we're
gonna get a whole lot of much, much nothing out
of this non cataclysmic that's what I'm gonna call it.
Nine of ten models that I look at say that
there there will be significant rain at some point, but
(05:10):
it won't become much more So. The odds of it
becoming Arthur, which is my middle name, by the way,
the odds of it becoming that are slim and or none.
I'm firmly convinced that this is you know, and again
just to be sure. I don't think we need to
worry about this. Go get yourself a couple of rolls
of toilet paper, get a case of water, and maybe
(05:33):
a dozen eggs, and call it a day. Ah, mercy sakes,
just don't go wipe out the can soup and beans.
Just shit. And again, I am not a weather man.
I don't pretend to be one. This is just what
I think is going to happen with this system, based
on living here in the Greater Houston area for six
decades and change and watching I don't know how many
(05:57):
storms now that I've been through on this coast, but
it's a lot. It doesn't make me an expert in
weather forecasting, but makes me an expert in what do
you think it's gonna do? And I think it's gonna
be okay. Turning to Wall Street, where I don't think
there are any weather alerts in place at present. All
four indicators were firmly in the green early, but three
(06:18):
of the four took a red turn about an hour ago.
I see, think you well, red turn about an hour ago.
Gold came up a little this morning and then gave
it back. It was down about four bucks at eleven
o'clock and hovering over four three hundred and forty seven
dollars an ounce. Oil has already fallen below seventy six
dollars a barrel. Since the announcement that an agreement between
(06:42):
Iran and the US has been reached. It's supposed to
be formally signed in Paris on Friday. Would it be
nice to be so important that you can just pick
where you want to go sign a document that's gonna
end a conflict halfway around the world, and let's go
to Paris to do this. Why they picked Paris, I'll
(07:04):
never know, and it's irrelevant, just as long as they
actually pick the place and both sides actually signed the agreement,
and both sides actually stick to the agreement. That's going
to be the hardest part for Iran. They've signed all
kinds of things over the years and promised they always
have hand behind their back, got those fingers crossed every
(07:24):
time they sign something. So I don't know that we
can expect more than that out of this agreement. But
I do know that if they mess up anytime between
now and at least two years from now, that's not
gonna work out well for them. It's just not gonna
work out well. So coming up in the next segment
there are well, no, I take that back. We're gonna
(07:45):
go ahead and plod for with some new stuff. And
then in the third segment at twelve thirty today, what
we're gonna do is talk to a man named Jack Wallace,
who is an expert in loans, and specifically, for this conversation,
an expert in student loans. And if you've got grandkids
headed off to college and they're trying to hit you
(08:08):
up for money that you don't have to go to school,
and they've decided they're gonna take out loans, you might
want to listen to what Jack's got to say. He's
the one who is gonna explain the new rules about
college loans that go into effect on July one. So
listen closely, and then maybe go back and listen to
(08:29):
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Speaker 3 (10:20):
They sure don't make them like they used to.
Speaker 1 (10:22):
That's why every few months we wash them, check his fluids,
and spring on a fresh coat of wax. This is
fifty plus with Doug Pike. Fifty plus. Thank you all
for listening very much. Moving into the news via Fox
News for this one major and this is gonna be
some sports news here. I'm gonna go through a couple
of things that I want to hit.
Speaker 4 (10:44):
Major League Baseball might catch some flack, and I think
rightfully so afterward or after all, it's warning members. It
has warned members of the San Francisco Giants that they
shouldn't have written anything on their caps on the recent
Pride Night game. During the recent Pride Night game, what
(11:07):
they wrote on a few of them did. What they
wrote on their caps were just the headings of Bible verses.
And one guy, I think this, at least the one
cap I saw what he did. He just wrote in
sharpie I guess just the It was a Genesis verse.
I can't remember exactly which one, but he just said
(11:29):
jen something I believe, and that's all he put on there.
But oh boy, those left leaning journalists were very quick
to criticize the players for that outward expression of their faith,
and MLB actually took the opportunity afterward to let the
players know that writing on their caps is a violation
of MLB rules and they better not do it again.
(11:51):
Are they're going to be kicked to the curb or something.
I don't know what they would, I don't know what
punishment they would impose, but it seems a little bit
hypocritic and a little bit very a little bit specific
against what they wrote because and I find it very
interesting that on several occasions in the past, Major League
(12:12):
Baseball players have written on their caps without any repercussions
at all, and on game night. According to the report.
Nobody in the clubhouse complained either way. Nobody said a
word about it. You can have your you can have
your pride night MLB. That's fine. I don't have a
problem with that. Celebrate whatever you want. They're your stadiums
(12:33):
in your games, but you shouldn't use that as an
excuse to take away the player's rights to openly express
and practice their faith. Write a Bible verse on a
cap harms nobody. I don't see where that's and it's
not like the whole verse was there so somebody had
to read it. No, it's it's just a reference, that's
(12:57):
all it was. And I don't think that hurts anything
or anybody, And I think warning them never to do
it again just just makes it worse. And you watch,
just like everything else that happens in these types of situations,
it'll end up in the Supreme Court and we'll just
have to see where it goes and who's in there
when that finally happens. In FIFA news, the big news
(13:21):
of the week so far is the zero zero draw
between Spain and Cape Verde. Among the biggest surprises thus far. Actually,
all Spain can do now this is a powerhouse team
this is what's his name? Will the Big Matt, big
guy from No never mind, he's not Spanish. I know
(13:44):
who he is and he's not Spanish, so never mind,
no need, no need to say his name. But I
do see that Spain has to and this is I
read this. I don't follow FIFA that closely, but Spain
all they can do now is just hope they fare
much better as the tournament continues. It's not a one
and done. These are brackets. I think it's double elimination.
(14:06):
It may even be triple but I think it's just
double elimination. And so long as they don't they don't
trip over their shoelaces again, which basically is what they
did losing to Cape Verde, they should be fine as
the tournament wears on. Speaking of World Cup matches, protesters
of this worldwide sporting event have come, well competition, it's
(14:29):
events that make up the competition have clashed with law
enforcement protesting. They're protesting the World Cup. Have they know
better cause than that? How about human trafficking? How about
fentanyl killing hundreds of thousands of people around the world
needlessly every year? How about anything other than protesting FIFA
(14:54):
in the World Cup ridiculous law enforcement several North American
venue Mexico. I saw a video of Mexico where a
big old protest broke out. The shielded the police had
their shields. There were dozens, if not scores of them
on the ground in this one particular area, and then
at least a couple of dozen and maybe more officers
(15:17):
on horseback trying to break up this rowdy crowd. Seems
a little I don't know whether they just ran out
of things to protest or they really have some beef
with FIFA. I don't know what it would be even
up in Seattle. Seattle so very typical of something that
would come out of Washington or Oregon. World Cup officials
(15:40):
up there have set up designated protest zones near the
Studium Studium stadium in which grown up crybabies can express
their displeasure with something the rest of the world finds
quite exciting and highly entertaining. I find it exciting when
I'm reading about it or seeing highlights on a sports cast.
(16:02):
But I must confess that after being well, after playing
baseball a long time, I can watch a baseball game
without getting bored because I'm while while everybody else is
just kind of watching the pitcher throw the ball to
see if somebody's gonna hit it, and if they do
hit it, to see where it's gonna go. I'm watching
I'm watching chess and they're watching checkers, because I'm looking
(16:23):
at every position player in the field and watching how
they move and how they reposition themselves, not just for
every batter, but in many cases and in many games,
depending on who's at the plate, they'll adjust for even
a different pitch count. They don't want to be the outfielders,
the infielders they are. There's so much analytical data available
(16:47):
to them now that they will even make adjustments on
the fly between pitches and not just between batters. It's
fascinating to me. Soccer just it just does do it.
It just doesn't do it for me. I love watching
now at the at the World Cup level. I like
watching the level of skill that these players have, every
(17:11):
one of them who's on the pitch for a World
Cup game, is far far better than any second tier
system of soccer or football, depending on what country you're in.
They are so much better at passing the ball, so
much better at closing distance, so much better at at
(17:34):
faking out other people. And the footwork that they that
they put out there for us to watch, it's just impeccable.
It's it's that impresses the heck out of me. It
really does. And that's one of the I can sit
there and watch it for a long time, just to
watch the footwork when two of them are trying to
get control of the ball, and and what of them
(17:55):
doesn't want doesn't want to foul the other because then
they automatically get it. It's funny to watch, though, when
when I see I see all that, all this skill
that's out there on display, and then I read that
Seattle's got to put up a protest zone and all
it is is some of that orange fencing about I
don't know. It's about high enough to jump over, but
(18:18):
not yeah, without even hurting yourself. And then they've got
traffic cones that designate and their signs on the traffic
cones that say this is for the designated whiny area.
I guess you want to call it if you're going
to protest World Cup for some reason. We got to
go to this break. When we get back, we're going
to talk to Jack Wallace. He's the guy who knows
(18:38):
about student loans and which which student loans have the
best chances of getting paid off, and which student loans
have snowballs chances on a hot August sidewalk of ever
being repaid in full. Let me tell you about New
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Speaker 3 (20:58):
Com what's life without a net? I suggest to go
to bed, leave it all, just wait until the show's over. Sleepy.
Speaker 1 (21:07):
Back to Doug Pike as fifty plus continues Segment three.
Speaker 4 (21:11):
Of fifty plus. Thank you all for listening. Thank you
very much. We'll talk in this segment. Since many of
the folks in this audience have high school graduates in
the family who plan to use student loans to get
through college, there are some major changes to the student
loan program and those changes take effect July one. To
explain as best we can in short time, I'm going
(21:32):
to welcome in Student Loan Expert from Why REFI. That's
why r E f Y Why REFI Expert, Jack Wallace.
Good after noon, Jack, Doug.
Speaker 2 (21:42):
Nice to be with you with your listeners.
Speaker 4 (21:44):
I really appreciate it.
Speaker 2 (21:45):
Man.
Speaker 4 (21:45):
So before we get to the new rules that are
coming in, do a really quick review of the program
that's going to be replaced.
Speaker 2 (21:53):
Well, the Bettal student loan program has got some modifications
to it, both on the new money side, which you
just talked about with people that are going graduated from
high school this year and next year and going forward.
There's some caps and what parents can borrow for their
kids and what graduate students can borrow. But the other
thing is that people are going into repayments of the
(22:15):
college graduates that graduated or are graduating this month are
going to have a new repayment program to come along
and be based upon the rank up. So we've got
something a little bit for everybody here.
Speaker 3 (22:28):
And ob three, whether you're.
Speaker 2 (22:30):
New money borrow or whether you know you're one of
the four million Texans that oh, one hundred and twenty
billion dollars student loans.
Speaker 4 (22:39):
God, how did that get so out of control?
Speaker 3 (22:42):
Jack?
Speaker 2 (22:44):
Well, you know they say took the caps off of borrowing.
It's crazy. You're absolutely right. I mean one point eight
trillion in student loan debt outstanding. That's more than credit cards,
that's more than autos. Yeah, and so there's so to
deal with this stuff. But yeah, no, the and you know,
for your segment of listeners, you know, the fifty plus crowd,
(23:11):
they owe about twenty five percent of the outstanding debt
because they either borrowed for themselves and consolidated their loans
and they're still paying off after you know, twenty five
thirty years, or they borrowed plus loans to their kids.
Speaker 4 (23:26):
Yeah.
Speaker 2 (23:26):
So their retirement savings is taking a hit and retirements
being delayed.
Speaker 4 (23:32):
Is there are there any rules about who can apply
for this money? Is there anybody who doesn't qualify for
a student loan?
Speaker 2 (23:39):
The federal Student home program is open to everybody unless
you have negative credit, not a credit score, but a
negative event for plus loans for parents that are borrowing
for their kids. The other thing is make the kids,
you know, they're going to school. There's loans undergraduate students
that they can take out in their own name and
(24:00):
help them build credit. So that's another good thing for
them to do and help, you know. And the other
thing is we need to become better educated consumers when
it comes to picking a college. Yeah, okay, you guys
have got you know, great four year privates in Texas
you get four great four year public so you got
great community college stuff. You know, let's put a little
(24:22):
mix in there, if you know, the four year private
is a little too. We got to pick a college
that not only the kids can get into, DOUG, but
one that the family can afford.
Speaker 4 (24:32):
Yeah, that's exactly right. Somehow, some way they're going to
have to pay that loan back if they take that
loan out, who.
Speaker 2 (24:38):
Doug, You make a great point. It's a loan, it's
not a grant. Yeah, and it's not a you know, scholarship.
And Biden's gone and all forgiveness stuff he talked about
ain't happening because he didn't do it the right way.
And the Supreme Court and the Court of Appeals and
the district courts all disqualified all those programs.
Speaker 4 (24:59):
Holy Lone expert Jack Wallace on fifty plus Here historically, Jack,
what percentage of college loans get paid back in full
and on a time?
Speaker 2 (25:10):
Well, let me tell you that's a very short tub
topic right now, because you know, with COVID that started
in March of twenty twenties, administrative forbearance program went on
for you know, four years. You know, loans was went
back into repayment in you know, twenty three, twenty four.
(25:33):
And you know, I was in Washington a couple of
weeks ago and had a meeting about thirty percent of
the portfolio has never made a payment. Holy but you've
got forty three million Americans, you know, one point eight
trillion dollars, and thirty percent of her have never paid
a dime?
Speaker 4 (25:52):
Do they intend they were pis do you think they
ever intend to pay.
Speaker 2 (25:57):
Part of it is it's a two part trade. One is,
you know, they got their heads in the sand and
their barrow and money doing other stuff. The other thing
is that everybody thought they were gonna get forgiven because
of your fight. Yeah, and that's not happening. So you know,
the big issue here is to make sure you wake up,
call your service or go online to studentad dot gov,
(26:18):
dot dot com dot gov and make sure that you
pay your loan because, as you know, Doug, if you
don't pay your loans back, your credit score is going
to take a hit and you're gonna not be able
to get that card, get that mortgage, get that credit
carder in some places you can get the apartment that
you want because they're all looking at your credit score.
Speaker 4 (26:38):
Talk for a minute, Jack, if you will, about the
majors that people go into and borrow up to their
eyeballs in a in a subject that's not going to
pay twenty four thousand dollars a year when they get out.
Speaker 2 (26:52):
You're not talking about the anthropology degree at Harvard where
it costs ninety three thousand dollars a year. You're gonna
come out, make it fifty. The math does work. So
that's what the the one big beautiful Bill Doug was
all about. That is taking away the ability for colleges
and universities to charge whatever.
Speaker 3 (27:12):
They want, whenever they want.
Speaker 2 (27:14):
And so you're right, there have been some changes, not
only the plus one program in limiting the borrowing, but
also you know, the grad plus loan program which has
put so many people in the debt. But kids take
up you know, five different degrees and never get a
job and never pay their loans and then going to
default is changing, So you know, it's it's you're right,
(27:35):
These colleges are going to have to tighten things up.
You know, you've got to. You've got a two part
trade going on here. You've got the loan limits going
on to help bring down tuitions and weed out these
ridiculous programs across the fortune. And then you know the
other side of the equation is the class of twenty
twenty five nationally from high school has been the greatest
(27:59):
number of kids graduating years. We're now on the downward slope.
So colleges and universities are going to have to look
at you know, their bottom line is a lot better
than they ever have before.
Speaker 4 (28:10):
Holy cow, Jack Wallace on fifty plus here from why
are e f y y reef? I believe it or not,
we're already down to a minute, Jack. So what's the
best advice you can give somebody, a parent, a grandparent,
or a student who's thinking about having to borrow money
for school.
Speaker 2 (28:27):
Well, if you've got excellent or very good credit, look
at the private loans because the interest rates are a
lot better. If you don't, you go with the federal
plus loan program, but good luck, and go to studentad
dot gov for the federal loans, and go to your
local bank credit union or BRAWSOS Student Loan in Browses,
(28:49):
Texas is a lender and they have taxes at money
and it's good. They have some great rates.
Speaker 4 (28:54):
Oh wow, that sounds very good to me. Oh man, Jack,
thank you very much. I got a senior in high school,
just got out and he's gonna be okay. But man,
I know how some of these parents feel. I really do.
That scares me for them, all.
Speaker 2 (29:07):
Right, Thank you, Jack, God always a pleasure.
Speaker 4 (29:10):
Yeah, thank you. I'll have you back again. I'd like
to do that. Thank you. Bye bye. All right, we
got to take a little break here on the way out.
I'm gonna tell you about berry Hill. Berry Hill is
in sugar Land. It's a tex Mex restaurant. Been there
thirty something years. I and my wife started eating there.
My wife and I started eating there thirty something years ago.
We've been in sugar Land longer than thirty years. I
(29:32):
can't remember exactly how many now, but the bottom line is,
as soon as we found berry Hill, we continued going
on a pretty regular basis. I would think we're We're
not the people who live down the street and show
up in their golf cart, but we're the people who
at least place a takeout order once every week, week
(29:53):
and a half maybe. And I've absolutely, positively never been disappointed,
never been disappointed by anything I bought at berry Hill.
The food is delicious. It's cooked by the two primary
cooks in the kitchen. Each have been there more than
ten years. So what they've done is they've taken the
recipe they learn when they got there, and then over
ten years plus, just refined it and tweaked it and said,
(30:17):
you know what, you know what, Wendy Brooks owns the place.
If she's there, just ask for if you go in
there and tell her I said hello, and if she is,
tell her she's doing a great job. You'll see what
I'm talking about when you get there. Very relaxed, very
family friendly atmosphere as you walk into the place. As
you walk up to the place, you'll see outdoor dining
that might be a little wet for that for the
(30:38):
next couple of days. But then inside there are tables
and booths to the left, it's kind of a family area,
and then there's a sports bar setting to the right.
Anything you order off of there is going to be delicious.
I'll promise you that. And if you are fairly new
to sugar Land, feel free to just raise your hand
in the air and say, hey, I'm new around here.
(31:00):
Did anybody want to welcome me to their table and
maybe tell me a little bit about Sugarland. Somebody will.
Somebody will take you up on that. I'd almost bet
on it, I really would. Berryhillsugarland dot com is a website.
They do a ton of catering too. By the way,
if you want to throw a nice party and have
all your friends think you're the best person in the world.
Berry Hill, Sugarland Southwest Freeway Sugar Creek Boulevard exit, coming
(31:24):
or going Berryhillsugarland dot.
Speaker 1 (31:26):
Com Old guy's rule, and of course women never get old.
Speaker 3 (31:34):
If you want to avoid sleeping on the couch. Oh,
I think that sounds like a good plant.
Speaker 1 (31:39):
Fifty plus continues. Here's more with Doug. Fourth and final
segment of the program starts right now. Will tell me
we have less than four minutes because I got a
little it's my fault in it a little bit long,
maybe on my live spots. You know, I got things
to say about my clients, and I'm gonna say them.
Speaker 4 (31:57):
I can't. I can't ignore the people who keep us
on the air. Will you know that I have to
treat them like family, maybe even better than some members
of my family. Let's go to Oh yeah, let's go
to this for sure Fox News story. FBI and other
law enforcement partners apparently foiled a plot that targeted this
(32:19):
past weekend's UFC Freedom three fifty two fifty Where did
that come from? Freedom to fifty event at the White House?
Five people in custody yesterday. More were taken into custody
overnight and have been jailed and charged. And the good
guys are looking for quite a few more guys who
haven't been caught yet, but you can bet they will be.
(32:41):
Their plot was to use explosive drones or and explosive
drone I'm not really sure, to hit targets near the event,
which would then force a mass evacuation of the entire event,
which then would lead crowds into range for pre staged snipers.
(33:02):
That's a pretty serious and well thought out plan. After that,
a second wave was going to storm the White House,
and all the bad guys were arrested in four different
states in the last thirty six hours, and more arrest forthcoming,
I'm sure and worth noting here. This is the amazing part. Okay,
(33:26):
the FBI didn't know anything about this plan, didn't learn
about it at all until June tenth. Back your calendar
up a little ways and see how close that was ago.
And in only a couple of days they identified their suspects.
They thwarted would have been just a horrific event. A
(33:46):
horrific event, and there's absolutely no reason that we're allowing
these types of things to almost happen. And just thank
god these guys got caught. To think of the work
that had to go into that in just what seventy
two hours maybe to get it all taken care of.
How much time do I have? Will not a lot?
(34:07):
I know, a minute and fifteen seconds, okay, I'll take that.
I'm not gonna read that when I don't like it.
I could do that. I could do this. Yeah, this
confused me a little bit over in London, and this
London is the precursor, and it's a horrible look into
(34:32):
the future some of these left leading cities in the
United States if they don't straighten up and get back
to common sense. Policemen was being attacked by a group
of immigrants who were suspected of shoplifting. One policeman against
six or seven really basically young, strong people and getting
(34:55):
the tar beat out of him and not one Londoner,
not a single one.
Speaker 2 (35:01):
Dry.
Speaker 4 (35:02):
There's people's videoing, there's people hollering stop it, as if
that were going to do something, which it never does.
But this poor policeman was just getting the tar beat
out of him. And all they were doing is yelling
and screaming. And why because nobody dared get involved for
fear that the law would favor the attackers. And that's it.
(35:24):
We'll talk some more Tomorrow Audios