Cautious Celebrations and Year-End Estate Planning

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
Good morning everybody, and happy happy holidays everyone, Marry Christmas,
Hyppi honka, and a happy New Year coming up for
everybody this week. You know, it's a pretty fun holiday.
I hope everyone's having a good time. It seems like
it's a two week holiday when they're on a Wednesday
to a Wednesday, because you kind of have a Monday

(00:24):
Tuesday boom holiday. Then you get a couple more days weekend,
coverle more days holiday, cover more days weekend. So it's
a nice for two weeks of enjoying hopefully family and
everything else and doing the things you want to do,
and you know, we relax it and getting ready for
whatever next year has to come. They come quick, though,

(00:45):
I'll tell you that. But the year is almost out.

Speaker 2 (00:48):
You know.

Speaker 1 (00:48):
It seemed like because the Friday the markets weren't doing
very well, but you know what they were all up
for the week. Not they were only up maybe half
a percent. S and P five hundred is up point
seven percent, nas put NAZAC was up almost one point eight.
Even the russell was up point two. So for the
month right now, the only thing that is up is

(01:08):
NASDAC through up two and a half. The s ANDP
is down one, the Dow's down four and a half,
Russell two thousand and down eight. And for the year,
they still have good, good good numbers. S and P
up twenty five, NAZAC up thirty one, Dows up fourteen,
and Russell's up ten and the equal weight that SMP

(01:30):
is only up twelve. And that's where the divergence is.
You know, we know it. We knew it all year long.
The technology stocks of what drove this market. There was
like seven eight stocks that did very, very well that
continue to bring the markets higher and higher as we
went into it. And that's okay if you had those.
If you didn't, then don't expect to have those big,

(01:51):
big returns, but expect to be okay and where you were.
So we're coming into the end of the year, so
now what you hear a lot of different things, but
nobody really knows, you know that. Do I think we're
getting to the point they're stretching too high? I do.

(02:11):
Do I think that the markets are a little bit overvalued? No,
I think they're very overvalued unless their earnings are going
to come in real strong. But the big key is
I don't think that the markets are going to accept
the initial burst in inflation that looks like we're going
to have. They're not going to accept the ten year

(02:31):
bond getting back to five percent. They're not going to
accept mortgage rates going back over seven percent and staying
there a little bit. Now, obviously everyone's going to just
start blaming Trump, and you know that, and I know that,
and that's what's going to happen at the beginning, but
what's going to happen six months, a year, two years
from now. So I want you to be cautious until

(02:55):
we do have that market correction because higher interest rates,
higher inflation will cause the markets to get upset. And
you know the media is gonna be all over that,
and you know that what's gonna happen is we're gonna
have to feel some pain until things turn around, and

(03:18):
they will, but it's going to be a fight getting
to Congress. The Republican Party does not do what the
Democrats do and just get in line and accept everything
that's shoved down their throats. They just don't do it.
You're always gonna have some Republicans that are gonna say no,
and they're gonna have to compromise with them. But you know.
On the whole, though, I don't have too much of

(03:40):
a problem with some of them not compromising on cutting spending.
I know they got in and there was you know,
basically a mandate on the border and immigrants, and that's
gonna be takeing care of. But it was also on

(04:03):
cutting inflation and getting jobs back. Well, if we're getting
rid of a lot of illegal immigrants that have been
taking jobs, I'm not talking about the ones that have
been here for ten and twenty years, talking about the
ones that have been here over the last one to
five years, they're going to be open jobs. My question

(04:26):
is Americans going to take those jobs. And it's a
big question because they have become so accustomed to handouts
to entitlements to be giving things for the last five years.
If you just said you didn't want to do anything

(04:48):
for whatever reason, oh poor me, here's a check. Ever
since the pandemic, here's a check. We'll take care of you.
But it didn't work. You know. They talk about cutting spending. Yes,

(05:10):
it's gonna cost some money to go ahead and find
the criminal illegal immigrants and find out the ones that
are here illegally and deport them. But how much has
it cost to keep them. Billions and billions of dollars
are paid for by people in states with sanctuary cities

(05:34):
that cannot afford them. Here in Tucson, we were busting
out of the scenes. When we had to house them
and put them places, the burden came down on us
and that's not fair. So, yes, you're gonna see some
pain at the beginning, and you're gonna see spending at

(05:56):
the beginning, But in the end, I believe you're going
to see something that's going to change people's minds. We're
going to see a shutdown border. We're going to see
immigrants coming in legally taking jobs, but they have to
take the second step that we cannot use immigration as

(06:18):
a political football anymore. We have to have policy to
go along with shutting down the border and opening it
up to people that legally need domicile here. We're not
going to go away from a humanitarian country. We're here
with democracy because we are different and we do care.

(06:43):
But we need to care about ourselves and get our
poor people to the point that they can go ahead
and survive and do the things they need to do,
and that will help the economy. You know, you've heard
about basic income. Everyone have a basic income, which means

(07:05):
if you're not making enough money, you get checks every month,
whether it's a thousand, two thousand bucks a month, again
for doing nothing. The idea that's being floated around now
is being able to give opportunities for people to create wealth.
I like that idea. Change the mindset. The mindset today

(07:29):
is not where it's like, Okay, give me an opportunity,
and I know how to do this and I'm going
to make take advantage of it. Today's mindset is it's
not my fault. I'm in this position. I need help
and you have to help me. That's wrong. The mindset is, well,

(07:52):
this is what I've done, this is what my parents done,
This is where I'm gonna be. My kids have to
figure it out on themselves. I can't do that. I
can't do this. I work too hard. I don't have
enough money. That stuff has to change. I've said this

(08:13):
a million times. Wealth is it on how much money
you have. Wealth is it on how much you spend
of what you earn. If you don't make a lot
of money, that doesn't mean you're not wealthy. If you
spend more than what you make, that means you're not
wealthy if you go ahead and spend less than what

(08:37):
you make and put money away and let that grow
for you. You have two earning sources, the one that
you get a W nine for and you have to
pay taxes on, and the one that you're investing in
for your future in a retirement account that grows for you.
One you don't have to pay taxes are it until

(08:58):
later on. That's how you become wealthy. Wealth isn't saying
I have millions of dollars. Wealth is saying I have
enough money to pay for my family's bills, have a
house overhead, have children, feed my children, have them to
be able to have opportunities to do things that were

(09:20):
maybe better than what I was able to do, and
they earn it, be able to take them on vacation,
so they have memories. But it's the values you teach them,
the morale, the morals you teach them. Those are the
important parts of making you a wealthy person, which means

(09:43):
then we become a wealthy nation. Because if we become
the land of opportunities and we don't give away opportunities
and just give away handouts, we're not the country of opportunities.
We're a welfare country of giving because that's how we
get votes, and we saw that change. People want to

(10:07):
feel good about themselves. I'm not saying if you need it,
if you're disabled and those things that you don't get help,
of course you do. I'm saying those that take advantage
of the system, they need to be waned off getting
help and start looking for opportunities at least for their

(10:30):
children to be able to get off that support system.
They'll feel better about themselves. One of the ways to
cut down on drugs is my stopping drugs coming in
in a way to cut down on debts. The stopping
drugs coming in. One of the ways of of of

(10:52):
of cutting down on people robbing and killing people is
people feel feling comfortable with their opportunities and doing well
in life. Not everybody's going to not have a life
of crime. People have a life of crime, but then
you need law and order. You do the crime, you

(11:14):
pay for that crime. If you rebiliate, your rehabilitate yourself
over a certain amounts of time, society should give you
second chance. Of course, not if you're murdering people in
cold blood, not if you're a sickle a crazy person,
a mental health person that's just going to keep doing
it again. Hell, no, things happen in life. People make mistakes.

(11:44):
Second chances are opportunities for people people coming to our country.
You just can't think that everything's going to be great
by just saying, oh, here you are, here's a check,
or do something. Opportunity are made when they learn how
to do something for themselves. I've said this many times.

(12:07):
Make this a private public co op where you got
the public money and the private money coming together. As
people come here legally and need to basically go to school,
we're going to have abandoned campuses. Let's start bringing them

(12:28):
the campuses, teaching them English, give them moom and board,
teach them the skills that they want, paid by both
public and private. Meaning, if you're a good technician, if
you know technical work, then Microsoft and Silicon Valley can

(12:49):
chip in and they can find the best people that
are in technology and the best brains, and then this
is a source for them to bring in help. If
you're a dentist, end up learning about dentistry. Maybe he
as a dental assistant, whatever it is you learn. Now
the dentist indust industry and the and the UH and

(13:12):
doctor's assistants. This is a place that they can go
get help, agriculture, hospitality, all these big industries, how to
work in certain factories. Everybody chips in, helps out, trains,

(13:34):
allows these people to become assimilated into the American way,
learn the American history and get jobs. Now they get jobs,
they pay for health care, they pay for Social Security,
they pay taxes, and they learn to go ahead and

(13:58):
become in credit American citizens. And as opportunities arise for them,
they're happy now if they're coming over here and making
more money, because that's what it is, and sending it
all out of here not being taxed. No, I don't
want to see that if you come over here, because

(14:18):
you can make ten times the amount and you can
make in any country, and we allow you to do it,
and you meet the qualifications. If you want to send
money out, it's after taxes. There's a lot of things
we can do to help our economy and help people
that need to be here either asylum or want to

(14:41):
be here and go through the legal process. But we
need to start doing that, and that's going to be
the first and foremost. You know, colleges are going to
take a beating here soon. Been watching it happen if
you notice more and more people getting into colleges have

(15:05):
less and less the academic qualifications that were five ten
years ago. And obviously a lot of this started with
all the DEI inclusivety saying everybody needs an opportunity. That's
the sheep in woolves clothing, because what they did is

(15:29):
allow different people in only to go ahead and promote
the culture that just got the Democrats fired at our
campuses that became so liberal that people forgot why they
went to school. And now we have an opportunity to

(15:54):
actually allow people to go to school and start learning
what they should be learning. The way schools are going
to be if they want to stay open, there are
going to be people with less academic qualifications getting in,
but that doesn't mean when they're there you can't make

(16:17):
sure that you keep your academic qualifications, but you're going
to have to make sure that they learn no different
than athletes that go there who have what they have
tutors at their becking call. Well, maybe what you're going
to have to do is have tutors there for the
people going to school and allow them to have access

(16:41):
to people that can help them get through their education.
But again, the person that's going to go and spend
that money, you're going to see a different type of
person going. And that's okay. It'll be the people that
maybe are the ones that can just didn't do really well.

(17:02):
They're freshman or sophomore year in high school, but turned
it around their junior senior year and realized that they
wanted a better life for themselves. They're going to get
chances and opportunities, and now it's going to come down

(17:23):
to who can afford and who can't. I have not
seen one solution by this administration other than I'm going
to go ahead and pay off your student loan. So
people going to school today thinking, hey, if I don't
pay my student loan, down the road, there may be
the white belt my student loan. It doesn't work that way.

(17:46):
But we need to fix it. We need to fix tuition,
We need to fix the way they just give out
free money to all these people without them really understanding
that it needs to be paid with consequences. And so
with that said, how do you do that. I have

(18:07):
no problems offering money to people that want to go
get and go to school, but they probably need to
keep a certain GPA to get the loan, and then
they get the loan and they're keeping a certain GPA.
It's a low interest loan, and then they keep over
three oh maybe it's a free loan, which means there

(18:29):
is no interest, especially when they're going to school, no interest,
and then when they come out, keep the interest low
rather than forgiving it. If you were just paying back principle,
it'll get paid back a lot quicker when the interest
is compounding, it's through the roof. You want to help

(18:50):
the American people teach them about good credit by rewarding
them when you have good credit. I remember when we
were going to two thousand and eight, the people that
got rewarded were the people that didn't pay their mortgages.
So what did they did do? They got relief, they

(19:13):
got him redone, they got him fixed, and they didn't
pay them. It couldn't go against their credit at that time.
But the people that paid all the time, on time
everything else got nothing. When interest rates came all the
way down and they couldn't refine refinance because their equity

(19:37):
in the house was less than their mortgage. They should
have been given an opportunity to lower their interest rate
on their mortgage. For rewarding them to be able to
pay on time every time didn't happen. So many times
we reward the people that have not done anything to

(20:01):
go ahead and warrant the help because they just said
the heck with it, while others constantly have tried to
work through things and help things at work and they
just haven't been able to do it. I want to
see the system change. Help those that absolutely need help

(20:22):
and are truth about the help. However, Reward those in
times of trouble that had been good, have kept up,
have suffered through it because they understand those things. Reward
them for doing the right thing, and you'll see more
people keep doing the right thing than not. And the

(20:45):
only ones that won't the ones that don't care, which
you'll never help them, or the ones that really need
the help because they lost their job, they had a
health problem, something like that. There are those circumstances and
they need help. The things I want to see happen.
So now we come into the end of this year,
I gotta think that the next couple days next week,

(21:08):
there's not a lot of liquidity. People are still on vacation.
As much as we saw the market fall on Friday,
we can see the market's rally right into the end
of the year. It behooves everyone to get the markets up.
It's been a good year. People get paid that way
coming into afterwards. It could go back and forth. What
I'm more concerned about is where we go after the
first week of January. We're more concerned about if we're

(21:30):
rallying into that strong seeing a decline that we haven't
seen in a while over the next I don't know
month or two, but the markets go down if you
do not have cash on the sideline, if you're not
mitigating risk, it comes scary and scary, and you go, okay,
I gotta sell, I gotta sell, and it bounce it
a little bit. You sell because you know you have
to get out of something in case it turns the

(21:52):
other way. Very few people over the age of fifty
can sit through it. Most people that are young say
say they sit through it. They don't. They panic, they
say they hate the market. This just generation or so
has not seen what we saw in two thousand to
twenty ten. I hope nobody ever sees that again. We've

(22:13):
had six bear markets in the last fifty years, which
is why people get so bullish, go go go. But
what they're taking out of context is that we're not institutions,
were human beings, and when the market's four, we were emotional,
and we don't have as much time as we had
ten years ago for the markets come back, unless you're
thirty forty fifty years old. If you're sixty seventy eighty

(22:36):
years old, now you don't have that time, and you
panic because you don't know what's going to happen. But
what you do remember is seeing million dollar portfolios going
down to five hundred thousand. So now there may be
three million dollar portfolios. You don't want to see it
down to a million and a half. You can't stomach it,
so people go sell, and I think the selling can
get worse. If that's the case that happens. The only

(22:58):
way you avoid that is by mitigating risk. We always
want to mitigate risk when the markets are too high,
and we will get aggressive to the buy side when
the markets go lower. The one way you do it
is raise cash. There's no reason not to have a
higher cash position. Right now when the markets are this high,
they're rotating from one sector to the other. When we

(23:20):
have the when we have money markets paying US four
and a half four point seven percent. The other thing
is it's to hedge some of the accounts, buy some
insurance puts, do some things like that that a little
bit out of the ordinary, or buy the inverse funds
that do insurance policies. You don't want your insurance policy

(23:40):
to have to go ahead and pay off, but it's
there in case something happens over the next few months.
Until we have this drop I suspect you mitigate risk.
If you have like being in seventy percent, drop it
down to sixty, to fifty five or fifty if you
like to be ninety percent, drop it down to seventy,
if you'd like to be sixty, bringing down to forty.
Bringing the other money in through the insurance because if

(24:02):
you're earning four and a half five percent, why you
sit and wait for great opportunities and it might not
happen the overmore market, it might happen in individual situations.
Then you step up and buy because that's your mindset.
We have another hour or so to talk about this.
We wish you going that, We wish you were happy
and healthy, healthy healthy new Year, and I appreciate you're

(24:25):
always listening to The Money Matter Show. Welcome back everybody,
It's the Money Matter Show. Appreciate you listening. We have
a smaller crew today, We got Dave and Sebastian and myself.
Then we're gonna do a little thing in the second
hour of the show. You're gonna hear a little bit
about our Saturday TV show type of format. And then
we also have Jonathan doing his show that the end

(24:49):
of the year, basically tax ideas and what's coming up
in twenty twenty five. So stay tuned for the whole thing.
But the second hour of the show is going to
be a little bit different format there, and I will
open my here and and and all. So hopefully everyone's
having a great holiday.

Speaker 3 (25:06):
It sounds like it sounds like an adventure about bringing
you greetings from Los Angeles from Orange County. Actually, people
in Orange County do not want to admit they're part
of Los Angeles. If you live in Orange County, it's
not and it's.

Speaker 1 (25:18):
Because it's more conservative.

Speaker 3 (25:20):
Yeah, I don't know, but it's interesting to me because
you know, even in Orange County there's a division because
it's it's South County. If you live in South County,
that's one thing. If you live in North County, that's
Anaheim or buying up in there, you know, and living
now in the lagoon in the gal is that north
South County, that's South County.

Speaker 1 (25:39):
Says Now she's a conservative sort of you know, I'm
from South Caaklorda's Army Southern Urse.

Speaker 2 (25:45):
She's from South County.

Speaker 1 (25:45):
So she's okay, she's getting there now. You see, it's
not hard to convert. We just have to show them
the way.

Speaker 3 (25:51):
I think if you a little experience as an adult
goes a long ways, especially when.

Speaker 1 (25:56):
You start making some money and you're paying taxes and
you live in California. Want to and where all my
money's going to? Fifteen trying to wait, yeah, trying to
raise children fifteen income. And then and then you go
up in the house here in Tucson. Then you you're
buying the shed out there in California if.

Speaker 2 (26:10):
You can buy it all I want.

Speaker 3 (26:12):
At Christmas dinner, there were three different couples and everybody rents.
Everybody rents because afford and one of the couples was
in their seventies.

Speaker 2 (26:21):
They weren't they can't afford to buy house.

Speaker 1 (26:23):
Yeah, they sold their house.

Speaker 3 (26:25):
Actually there they were missionary, so they were all in
on the lord as the post, all in on the
all mighty dollar.

Speaker 1 (26:32):
Hey, if they're happy and the healthy, and that's all
that matter.

Speaker 2 (26:35):
They were happy, they were healthy, but they are renters.

Speaker 4 (26:37):
Housing prizes so inflated, and you know.

Speaker 1 (26:39):
It's going well, I got to get my disclaim.

Speaker 4 (26:42):
Okay, go ahead, Okay, Usually I did the disclaimer.

Speaker 1 (26:45):
Can you want to do it? Yeah? I can't. I
can't believe that you do the disclaim without the reading.
I can't. I'm going to teach you right now. Okay, sponsored,
but yeah, who sponsors the show?

Speaker 4 (26:59):
Seven nine?

Speaker 1 (27:00):
See financial Give Financial is both a registered investment advisory
and a broke a dealer for now, for now, hopefully
in a month from now. That broke a deal a
part of me gone. Okay. On the show, we talk
about different products and strategies. We all have our own ideas.

(27:22):
Each idea product, strategy has.

Speaker 4 (27:24):
What type of inherent risk associated with it?

Speaker 1 (27:27):
There you go, like, risk has a lot of different ways.
You could have too much allocated, you could have too
little allocated, you could be in too much of one industry,
whatever it is, there's risk. Understand your risk before investing. Yes, boy,
I guess after thirty five years, I can't do it

(27:48):
without having these.

Speaker 3 (27:51):
I don't know that you ever will get the notes.
To be honest with you, for anything you're most people
don't know you. You come out here half an hour
before the show starts, you don't know what you're going
to talk about, and you do twenty.

Speaker 1 (28:03):
Four they would swee minutes before the show.

Speaker 3 (28:05):
Yeah, okay, you do twenty four and a half minutes
literally off the top of your head.

Speaker 1 (28:08):
It's just amazing. Well, I know what the mortgage did.

Speaker 3 (28:10):
I know you do, and it's good information and people
enjoy it and it's factual, and it's just an amazing talent.

Speaker 1 (28:16):
Dan.

Speaker 4 (28:16):
I liked what you were talking about. I don't like
the idea of universal basic income, but I liked what
you had to say for it in the monologue. I
just want to bring to lights what's happening in Turkey
right now. They just cut their interest rates by two
hundred and fifty basis points down forty seven and a
half percent. Forty seven and a half percent. Imagine living
in that country right now? Oh my right, and we're

(28:37):
sitting here talking about universal basic income in the United
States of America. I can't imagine where we would get
the money. I can't imagine having that system.

Speaker 2 (28:44):
Yeah, we don't have any money, but that shouldn't matter, I.

Speaker 4 (28:46):
Guess, right, And not to mention just how de incentivizing
it is to small businesses and just anybody that wants
to prosper in life.

Speaker 3 (28:55):
You know, I was looking at the at the week,
and the big headline in is probably Christmas, right, that
was the big thing that happened during the week. But
I think probably the big headline was Tesla recalling seven
hundred thousand vehicles that the EV haters love that.

Speaker 2 (29:10):
You know what happened when Tesla? Yeah yeah, but yeah,
well let me talk about this. Oh, let me talk
about this.

Speaker 1 (29:16):
One day back in he's back in EV country.

Speaker 3 (29:19):
Seven hundred thousand vehicles recalled in a normal recall.

Speaker 2 (29:22):
That's not good news.

Speaker 3 (29:23):
Right. You got to call your dealer, you got to
make sure they've got the part. You got to get
an appointment, you gotta have someone haul you down there
or uber or whatever. You know, you got to drop
your car for a day or two or whatever. When
Tesla has a recall. Here's how you deal with it.
You go to bed and in the morning, when you
wake up, the recall is over.

Speaker 4 (29:45):
Oh, because you're talking about the software updates.

Speaker 1 (29:46):
That's all it is. It's all it is.

Speaker 3 (29:48):
That car has virtually no moving parts nineteen moving parts.
So if you're going to have a problem, it's going
to be on the computer. It was a tire censor
gauge who didn't work at hard time. Some people were
seeing their tires go flat when the tire sensor gauge
was not to be serious problem right when the tire
sensor gauge was not telling him they're a huge problem. Anyway,

(30:10):
make a long story shorts. You go to bed, you
wake up in the morning, the problem is solved. We
call done. Just another reason why if you don't have
an EV you miss.

Speaker 1 (30:19):
Now, So what car did you drive to California?

Speaker 2 (30:22):
Well, we can't drive the Calvi.

Speaker 1 (30:23):
Yeah, no, no reason why you don't have one range?

Speaker 5 (30:26):
No?

Speaker 2 (30:26):
Yeah, if you have two cars.

Speaker 3 (30:28):
Now, if you have just one car, you wouldn't want
an EV as your only car unless you're never gonna
leave town, right right, because it's inconvenient.

Speaker 1 (30:35):
Right for now, So get us seventy eighty thousand dollars
second call.

Speaker 2 (30:41):
Most people don't have a seventy reason.

Speaker 4 (30:43):
I just got that hybrid that has like six hundred
and fifty range on it, which is pretty amazing, Hyundai.

Speaker 1 (30:49):
Beautiful call you got, you know the executive call there,
it's would trim lea the hybrid.

Speaker 2 (30:56):
Yeah, the worst of both worlds?

Speaker 1 (30:58):
Yeah, wait, but why do you say worse this?

Speaker 4 (31:01):
This one's actually listed, doesn't EV You could actually call
it an EV.

Speaker 2 (31:05):
Oh yeah, it has to plug in.

Speaker 4 (31:07):
I'm not sure.

Speaker 1 (31:08):
I'm not sure what you have to plug in and
you have to put gas in it? But the worst onesI.

Speaker 2 (31:15):
Six hundred and fifty miles you have to plug in? Yeah,
but six hundred ftey miles goes I'm just gassed.

Speaker 4 (31:20):
Have you guys ever seen a natural gas car?

Speaker 1 (31:22):
What are you talking about? You goes cargoes six hundred
and fifty miles on you.

Speaker 2 (31:26):
Know the battery.

Speaker 3 (31:26):
The battery only takes you twenty five thirty miles. So
if you're going six hundred fifty, I don't think you
goes six and I don't know.

Speaker 2 (31:33):
No, no, no, no no.

Speaker 3 (31:35):
In a hybrid, the battery is good for about a
plug in hybrid is good for forty or fifty miles.
A regular hybrid is good for about twenty five. Uh,
just battery and then the gas has to start burning.
I don't know, check on that one start burning gas.
You don't have to check on it because I know
this stuff. Anyway, I'm proud of him, I'm happy for him.
I'm I'm looking forward to the day when we actually happen,

(31:58):
either it'll do five or six hundred miles, because that
is absolutely coming. Cool now when it does. What you know,
how about this? Did you see the news on nord
Stream's team Nordstrums a family member is going has teamed
up with Elporto de Liverpool, a Mexican retailer, and they're
going to take the company private at twenty four dollars

(32:18):
a share.

Speaker 1 (32:19):
Oh Nortrum Yeah, okay, okay.

Speaker 2 (32:20):
So you look at that and you go, yeah, well
that's nice.

Speaker 4 (32:23):
What's the stark trading at?

Speaker 3 (32:24):
No, but twenty four dollars a share? So it's because
actually it was about twenty five. So it's a classic
take under. But here's the here's the interesting part about
that story. In twenty eighteen, the Nordstrom family tried to
take the company private at fifty dollars a year. Ooh,
and it was rejected as not being enough money. Yeah,

(32:45):
fifty dollars a year. Now it's twenty five dollars a year.

Speaker 1 (32:47):
Yeah, but going public has a lot of different reasons
now too. You know, you don't have to deal with
all these regulations going private. You're saying, yeah, that's right, man,
going private.

Speaker 3 (32:58):
Yes, economy continue used to look pretty darn good. A
lot of excitement about Trump. Two point zero stock valuations
dean thirty one times too high, thirty one times, as.

Speaker 1 (33:09):
Your wife said, the four and a half to five
percent you can get in the money market. It's just
fine right now while you wait for your opportunities.

Speaker 2 (33:17):
And it clearly feels like it's never going to go down.

Speaker 1 (33:20):
I mean, I mean, okay, the two days it's gone
down in the last couple of weeks, one hundred and
seventy eight points on the on the S and P
and then one hundred points almost on the on Friday. Yeah,
but I'm down an over hundred at one time. That's
a bit, that's big quick drops.

Speaker 2 (33:35):
Yeah, but it's not even what it gained on Monday
and time.

Speaker 1 (33:38):
I understand that, but if it continues, we can know,
got five hundred s and p points before you sneeze.

Speaker 3 (33:45):
Not even hinting that that will not happen. I'm saying that.
It doesn't feel like I have to remind you about
Christmas parties. No, no, I remember everybody goes.

Speaker 1 (33:55):
In the front door.

Speaker 2 (33:55):
Yeah, I heard this last week. Go ahead, you can
tell it again.

Speaker 3 (33:58):
It's a good analyoxyso analogy and then not be a
Christmas party commuting kind of party.

Speaker 1 (34:03):
Oh it's Christmas time, so it's okay, okay, they want to,
they don't kind of come and look they're drunk before
they come. Maybe come between you know, seven and nine
o'clock for New Year's Eve party and you could have
one hundred people in your house. Yep, But boy, at
eleven thirty something happens. Who knows what could happen, but

(34:24):
the police come, something happens. You got to get out
of that house. It's a p diddy party. It's a
freak out and you got to get out. And everyone
leaves it the same time. How are you gonna get
out the front door?

Speaker 2 (34:36):
Yep?

Speaker 1 (34:37):
The market. If you look at the market the same way,
that's exactly how to look at it. When you jumping,
you're jumping and you ask questions later. When you come in,
you're coming and in coming in politely. But when you're leaving,
it's who's ever going to man those boats best?

Speaker 3 (34:52):
How many shorre do you hear over the year of
people get you trampled to death? Yeah, and things exactly
like that, and I trampled to death is probably not.
It is a little bit more severe than losing money,
but it's gonna be hard to get out when you
need In simple.

Speaker 1 (35:06):
Terms, it's easy to get out as the market goes up.
Would party your position and let the rest of it
go up and say, oh, I could have made more
money than it is. When the hell do I get
out when the markets are going down and I don't
know where the bottom is.

Speaker 3 (35:19):
If you're fortunate enough to be involved in crypto or
Nvidia or Tesla, if you don't take some off the table,
you're I think you're you're being follious.

Speaker 1 (35:29):
Especially if you're sixty seventy years.

Speaker 4 (35:30):
Old, or if you're in something ridiculous like GameStop. I
saw GameStop had another bid this week, and that was
based off of that Roaring Kiddy guy making a tweet.
It's like, why why is that stock catching a bid
right now?

Speaker 1 (35:42):
If you're in game Stop, You're never gone to game
Stop store. All right, we'll be back. We got another
section of this first hour. Appreciate you listening holiday season,
and all I want to say is happy holidays and
happy New Year to you. Welcome back, everybody. It's the
money mat of show. We got Dave and a bastion
of myself, Dan Greenberg here to bring you the information. Remember,

(36:04):
the second hour is a little bit different. You're going
to get a little flavor of what our TV and
Saturday shows are. It's done more with a host and
and questions and ideas, and I think you might enjoy it.
And this other one is going to be Jonathan. You
know we're a family office. He's the attorney here that
doesn't stay planning and and all and hits his end

(36:25):
of the year's show and he'll we'll do his end
of the year show for you too, which was heard
yesterday on Saturday, and today we're going to repeat it
for him on Sunday.

Speaker 2 (36:36):
And this is not a new tradition, this is just
a holiday thing.

Speaker 4 (36:40):
But for Saturdays, I will say if you guys really
like the estate show. It's going to be called. They've
made a title for it. You're ready for this. If
there's a will, there's a way.

Speaker 2 (36:49):
Ah, that's that's got to be Jonathan, Jonathan and Mel
and Mel.

Speaker 6 (36:54):
Right.

Speaker 1 (36:55):
Mel came up with that.

Speaker 2 (36:56):
Whether there's a will, there's a way.

Speaker 1 (36:57):
Yeah, Yeah, you like the name. What do you like
the name with trust?

Speaker 4 (37:02):
I thought it was pretty cool too.

Speaker 1 (37:03):
The state turned. If there's a will.

Speaker 4 (37:06):
Anyways, we're gonna we're gonna review the numbers just to
make sure we got it on the right time. Slopt.
It's either gonna be at eight am or eight thirty
am on Saturday mornings.

Speaker 2 (37:13):
If you trusting us, huh huh, they're completely mistrusting us.

Speaker 1 (37:18):
No, that's not a good one.

Speaker 4 (37:19):
I like that one.

Speaker 1 (37:20):
No, THO didn't.

Speaker 2 (37:21):
Don't trust that's a day trust in us, trust in us.

Speaker 1 (37:25):
You trust in us?

Speaker 4 (37:27):
Trusting us? I like that one too.

Speaker 2 (37:30):
Well.

Speaker 1 (37:30):
If the will there's a way, just tru trust. If
there's a will in a way, just trust in us.

Speaker 2 (37:35):
There you go.

Speaker 1 (37:36):
Well, we're making up there things. If there's any input
on that, talk about the markets. So we have about
ten minutes here.

Speaker 2 (37:44):
It was up a buck to seventy two.

Speaker 1 (37:46):
Yeah, I'm talking about going into next year block market.
You know, you hear about the January. Last few days
in January tells you how January goes. January does well,
the year is good. The January doesn't go well, the
market's not good. I don't know. The problem is is
what they don't take into consideration is the year that

(38:07):
we've had before, you know what I mean. And I
think where we are right now, you can actually have
a bad January, January February and I have a great year.
And the reason I say that is we are so
high overvalued. Trump is going to come in. He's going
to make a lot of decisions that are going to

(38:27):
be conflicting with what people think are economically sound, and
I think the markets will sell off. I think interest
rates will go higher, and then I think you'll see
the turnaround because he's not worried about what happens now.
He's worried about changing the country and what happens later.

Speaker 3 (38:44):
It's absolutely price perfection. Thirty one times earnings and the
historic norm is sixteen times jarning, so it's almost double normal. Well,
you've got ai. That is a significant game changer. That's
a game changer for sure. And you've got Trump two
point zero, that's a game changer, all right. So those
are positive things. But boy, I'll tell you, you're looking

(39:04):
at this market twice what it normally is priced at,
thinking it's going to have to be awfully, awfully good
to justify these prices.

Speaker 1 (39:11):
It's interesting though. On the other hand, Okay, let's let's
look at the other big picture. Okay, and we said
this before history repeats itself. Yes, okay, one hundred years
ago we had a pandemic, right, we had another pandemic. Yeah,

(39:33):
twenty twenty right, pretty much one hundred year ago. One
hundred years ago. After we came after the pandemic, what
did we have? The Roaring twenties that lasted longer than
most people expected. Nineteen twenty nine, what happened? Markets crashed?
Do I think it has the tame same time frame? No,

(39:55):
But it's got the same feel feel to it. Okay,
And I do believe we have a lot more to go.
But if you go back and look at the Rowing twenties,
I think it was twenty three twenty if somewhere in
there the markets did for hard before they did that
final push up into twenty nine. Now we don't have
the same problems they had in twenty nine. But we

(40:16):
said that in two thousand and eight that there's no
way that can happen again to the banking systems. Well,
now they're talking about lowering bank regulations. They're looking at this,
they're looking at that. A lot of things can happen
when you have an influx of greed. Okay, So what
I'm saying is we had things happen that were life changing,

(40:40):
and I think the first one we would all agree
was the Internet. Yepkay, eighties nineties that allowed the computers
to be worth something, done something the hard way. I'm
talking about the thing. Yes, the computers changed, but what
really changed it was the Internet.

Speaker 3 (40:55):
The best thing and the worst thing about the twentieth century.

Speaker 1 (40:58):
Right then, what happened? What was the next See that
happened after that? These smartphones? I mean that changed people's
lives totally, right, totally. So now we're in the next
revolution of changing people's lives that can last for easily
five to ten years. Yeah, Okay, of the growth part,

(41:19):
and it's AI and there's steps of AI. As we
talked about who and how is the best now, that's
why we like, you know, ETFs are great. You be
in some of these individual stocks, you make the big money.
But if you want to be part of it, you're
and all of them by using the the ETS, which
is basically a basket of these stocks. The next level

(41:40):
of this AI, which we see happy a little bit,
which is very risky because no one knows anything about it,
is what quantum computing want them computing, and that's that
word quantum computing, my friends, or what you're going to
start hearing over the next one two, three years in
a big way. Does that mean you get in now?
It means maybe you look at some ets said you

(42:02):
can get in now, because if you're getting into stocks,
you don't know which ways are gonna survive or not.
And there's a bunch of them that we've seen that
have done one hundred and fifty percent already, going from
four to twenty in basically three weeks, well from one
to twenty over the last couple of months. Very risky.
If you don't know what you're doing, you stay away
from them, but start looking for ets that I have

(42:23):
AI and quantum and put part of the money into it.
To be part of what's going on. It's no different
than bitcoin. I looked at bitcoin on the last Decembers,
like Christmas says, going all the way back to twenty ten,
when it was like I think, what ten to twelve bucks? Yeah, okay.
Then it went all the way up. Then it got

(42:44):
cut in half and went all the way up. And
the biggest one is when it went from fifty thousand
back to fourteen thousand. We've gone one hundred thousand. It's
good chance that that we gotta have another dropping then
of forty thousand fifty thousand. But then where does it
go after that? Bitcoin is not going away with this administration. No,
this is now only now you start seeing it now.

(43:06):
That means you didn't get into the very beginning and
everyone wants to. But does that mean you're late to
the game. No, unless you're putting all your eggs in
the basket at the hest you dollar cost average into
these things and you have pieces of it of your portfolio.
But if you don't, then you're gonna look back and
say I missed out on it.

Speaker 3 (43:27):
And like with anything in life, you find what you're
interested in and you wait for a sale.

Speaker 2 (43:31):
Right, you buy it on sale.

Speaker 1 (43:34):
Dollar cost average.

Speaker 2 (43:35):
You can absolutely dollar cost averaging.

Speaker 1 (43:37):
Explain what that is. Safe.

Speaker 3 (43:38):
Dollar cost averaging is put in, typically put in an
equal amount of money into an investment over a specific
period of time, uh, five percent every three months, something
like that. That's kind of how we invest when people
come in with all cash. We don't throw it all
in and cross our fingers and go hope it works out.

Speaker 1 (43:55):
I'll even go further than that too. Say you want
five percent or eight percent of whatever it is, say
eight percent into quantum computing, which is the next one
going off. So you start with a position of two
or three percent. You add to that position whether it
goes up or down. Now you get to eight percent.
If that position goes down, and now it goes down
to six percent, what do you do you add to it.

(44:16):
If that position goes to twelve percent, you say, okay,
now I'm catching the way. Maybe I go back down
to ten percent and you stay at ten percent. Goes
up to fifteen percent, you cut it back to ten percent.
If it goes down to five percent, you add back
into ten percent. That's how you can dolar course averaging
over a long period of time. Once you have your
position that you.

Speaker 2 (44:36):
Want, decide what amount, what percent you're comfortable with it.

Speaker 3 (44:39):
Stay with it exact, stay with it if it rallies yourself,
if it drops your bike.

Speaker 1 (44:43):
And that is why you need to do a financial plan.
Plan where you're going. We talk about it all the time.
Understand what your risk tolerance is, Understand what your game
plan is. Understand how you're going to get there and
be able to do it. I could talk to you
all day long about portfolio investing. That's what we do. Okay,
these are gross stocks. Those are the fun ones. But

(45:04):
eighty percent of the portfolio is not in growth stocks.
Those are the ones that you've got your boring bonds,
you got your boring stachy companies, you got your dividend
paying companies. You're putting a portfolio together. Those are there
and the whole thing is then gets wrapped around. And
that's why we became a family office. Okay, we are
truly a family office, not just because Dylan works here

(45:27):
that type of family. It's a family office that we
actually help families do everything from plan their futures, protect
their futures with insurance, go ahead and do a state
planning for legacy and do the tax work with them.
We have different experts in our office. That's what makes
it a family office.

Speaker 3 (45:45):
Sure we can get you, you get mortgage. We're talking
to the people next doors.

Speaker 2 (45:49):
It's no big deal. The finish off the market.

Speaker 3 (45:53):
We would oil up a dollar to seventy fifty, gold
down eleven dollars to twenty six seventeen on the week.
New Year's Day is Wednesday, which is next week. There's
no economic numbers next week at all. It was that
the day after Christmas, the twenty sixth, I was traveling
doing it seemed like the mark was close.

Speaker 1 (46:11):
It's two week vacations everybody.

Speaker 3 (46:13):
Yeah, And for a lot of people, this is a
really slow time of the year and they just shut
it down. For people in retail and people in our business,
it's a really busy time of the year because we're
trying to do last minute things for tax planning year in,
get the contributions to the ros, con versions, make sure
you've got taken losses to offset game. It's a very
busy time of the year for us, very busy time

(46:35):
of the year for retail. For a lot of people,
it's the time of the year to kick back and go,
let's see who can I buy it out? Who can
I bother? Because I got nothing going on. That's kind
of the way it comes down bitcoin. Kind of a
wild week for Bitcoin, finished the week down two percent.
Bitcoin interestingly is close to the December lows. But like

(46:57):
Dean said, it is a very very volatile last and
if you're interested in it, you might take a small
position here. But wait, wait for that big drop, which, boy,
maybe it never comes again, Dean, But it seems like it's.

Speaker 1 (47:11):
Going to crops are great. Yeah, if you have money,
they shuck. If you don't have money, yeah, they just
scare if you don't have money. That's why you got
to mitigate your risk. I understand. We're there, have a
hopefully a great, great, great, great new year. We'll see
you on the other side. Stay tuned for the next hour.

(47:32):
Thank you for listening. It's the Money Matter Show.

Speaker 5 (47:35):
Hi, everybody, Welcome back to another episode of Money Matters
with Dean Greenberg. I'm Mel Greenberg and I am here
with Jonathan. How you doing today?

Speaker 2 (47:43):
Pretty good? How are you?

Speaker 1 (47:44):
Mel?

Speaker 7 (47:45):
I'm hanging in there. It's a busy time of year.

Speaker 6 (47:47):
It gets to us all, Oh, sure is the end
of the year, stuff, buying presents. It's just been madness
the past two months.

Speaker 7 (47:54):
It's NonStop. I mean I wait for it.

Speaker 5 (47:56):
I love this time of year, and then you just
get engulfed in it in its whizz is by.

Speaker 6 (48:02):
Did you buy a lot of presents for your grandkids?
Of course absolutely, thany for the children, yeah.

Speaker 7 (48:08):
Them too. Got everybody covered.

Speaker 6 (48:10):
How about you, We're still you know, processing, we're still
getting grifts. We're looking to you know, we got another
birthday coming up in January, and so we're going to
you know, buy presents. Is kind of interesting when you
have kids around the holidays, do you lump it all
in one in one day or do you spread it out?

(48:31):
So we've been buying presents continuously for the kids.

Speaker 5 (48:34):
Well I can speak to that. My birthday's January eighth,
and that was tried on me when I was young.

Speaker 7 (48:39):
Didn't work. I was like, no, no, no, I want
all of them.

Speaker 6 (48:42):
I want my special day.

Speaker 7 (48:43):
I want my special day.

Speaker 2 (48:45):
Yeah.

Speaker 5 (48:45):
But all of you out there, thanks for joining us
on this last show of twenty twenty four. It has
been a pretty incredible year. A lot of God, well, a.

Speaker 7 (48:55):
Lot of everything.

Speaker 5 (48:56):
Things we didn't expect, things we kind of hoped for,
didn't hope for, worked for. It's been a crazy twelve months.
I'm ready for twenty twenty five. But as we look forward,
it's really important that we close out this year kind
of you know, tie a bow on it all, you know,
And I know you're going to lead us that way today,

(49:18):
and I think I want to start with, you know,
any life changes, things that have come up this past year.

Speaker 6 (49:26):
Well, I kind of want to chat about what is
going on with me recently, you know, a little personal story.
So when we moved the Tucson, we didn't sell our
house in Phoenix, so we decided to rent it out.
The very first tenants we've had were amazing, great, probably
heard from them once throughout the entire year, paid rent

(49:46):
on time, everything was great. Hunky Dory sad to see
him go. It was actually a cop from Texas and
he moved back to Texas with his wife. Our new
renters have been a problem to a point where I
have to make sure that all my legal loop legal
holes are filled in. So for instance, they moved in.

(50:09):
The wife's a realtor, okay, and she it's constantly she's
playing armchair lawyer with me. She's constantly saying, here are
the rules, here's what I know are is required here
in Arizona. I mind you, she's not a real estate
agent in Arizona. They moved here. She's a real estate
agent based out of Virginia or Maryland or whatever.

Speaker 7 (50:31):
And all state to state, it's all different.

Speaker 6 (50:33):
It's all different, all the rules are different. So when
they first moved in, they had a problem with X
Y Z.

Speaker 1 (50:39):
We took care of it.

Speaker 6 (50:40):
They wanted drout work not required.

Speaker 1 (50:42):
We took care of it.

Speaker 6 (50:43):
Weird, but we made sure that was taken care of.
One of the windows was cracked, not broken, cracked. They
wanted that fixed. Little things. Trying to help them out.
Then it's now it's the ventilation. We have problems with
the ventilation. And mind you, we live in Phoenix, and
you want as much airflow as possible, YEP, or at

(51:05):
least Tucson. You want as much airflow as possible. So
our previous technicians said, hey, we're going to disconnect this
part so we can have thirty percent more airflow through
the entire house. They're asking for it to be reconnected. Why,
I have no idea, and so they just want to
you know it's connecting because there's a seven by seven
room that's not a living room, it's an offshoot. It's

(51:27):
not a living room, it's not a bedroom. It's it's
basically a closet that's not getting great airflow. But so
they want it reconnected so there's airflow into that room.
So they want us to dump eight thousand dollars into it.
So they've already written us a ten day notice. And
then when they were looking at the ventilation, we have
pack rats here in Tucson.

Speaker 1 (51:44):
We call them.

Speaker 6 (51:45):
In Phoenix they call them roof rats. And they found
one in there. So we had that exterminated. We had
that taken care of. It's what they do is, you know,
time goes on. This house is built in nineteen seventy.
It's a fifty year od.

Speaker 7 (51:57):
That's an ongoing part of life in the desert.

Speaker 6 (52:00):
I told them, I said, look, you know, you guys
moved here from Virginia. We have pack rats, we have scorpions.
You can't avoid them. All you can do is try
to help alleviate the situation.

Speaker 7 (52:10):
We can't eliminate them.

Speaker 6 (52:12):
You can never eliminate. So we had them exterminated. We
had all the holes that they could possibly go in
filled in. You know, we're catering to these people left
and right now it is starting to scare us, they
said the real estate agent. The tenant said, the house
is built in nineteen seventy. There is a little bit
of chipping in the paint. We have a young kid.

(52:32):
We're worried about lead. Now we have a lead poisoning issue.
I go, well, we gave you a pamphlet. You signed
a disclosure the house was built. Every house sale before
nineteen seventy has a disclosure saying this house was built
before nineteen seventy. There's a possibility for leading to paint.
This is a disclosure, but we were unaware of it

(52:53):
when we bought the house, it said the sellers. They said,
we were unaware of any lead, but we just want
to let you know that there's a possibility because the
house was built before nineteen seventy. So they signed a disclosure.
She's a real estate agent, she should understand that. But
now they're worried about lead.

Speaker 7 (53:10):
How long have they When did they move in?

Speaker 6 (53:11):
They moved in in August. So now I'm terrified. Were
there were there any red flags? When they know I
met them. They were complaining about the sprinkler system. I
drove all the way to Phoenix personally. I fixed the
sprinkler system for them. I met them. They said, hey,
we're not crazy people. I know we ask a lot,
but we're not crazy people. It's turning out that they're crazy.

(53:34):
So we have nightmare tenants. My wife every time I
come home, she's crying. Why are you crying? Oh, the tenants.
There's something wrong with the house again. There's something. Their
lease is until August, so it's a one year lease
and we're not renewing them. Don't worry. Well, I know that,
but the lease I wrote that. I wrote them, but
I never sent the email because I read the statute.

(53:55):
So I've learned a lot. I'm not a real estate attorney,
but I've learned a lot about real estate law the
past couple days because I've reading the Landlord Tenant Act.
So I wanted to send an email to them saying, hey,
what if you guys want, you can break the leaves.
I'm not interested. Let me backtrack. They offered to buy
the house a couple of weeks ago, so they have

(54:17):
all their complaints. They don't hate the house, they're just
they're just very demanding people, their nightmare tenants. They're eating
up a lot of the profit that we're supposed to
make to help pay for the mortgage, pay for the text.

Speaker 5 (54:28):
Maybe are they setting it up to buy it to
try and buy it at a cheap part?

Speaker 6 (54:33):
And I joked around my wife. I said, well, if
they want to buy, we're going to sell to them
for a million. Now that's way more and it's worth
But just because they've caught us a heartache, I don't
want I don't want them to have way anything for
market value. But that sounds kind of rude. But I
don't want to give up the house because if we
were out of her move back to Phoenix. We love
that house and we'll move back into it. It's a
great house. So at the end of the day, now

(54:56):
I'm looking at my legal structure, I'm looking at what
we have in place. What could happen. Let's say hypothetically
there is lead poisoning. Okay, So if you do have
rental real estate, and I do have a lot of
clients to say, hey, we're renting out this house, we
have a lease, and that you know we're going to
lease it to this family. You have to make sure
that you do read the Landlord Tenanact because there are

(55:18):
certain things, especially with lead, that you have to send
out a pamphlet to the to the to the renters
to make sure that they understand that even though there's
lead in the paint, it doesn't make it dangerous. But
if there is chipping, if there is, if you do
some remodeling, you have to be sure to clean it up.

Speaker 5 (55:38):
And that's for homes in Arizona built before nineteen seventy.

Speaker 6 (55:42):
Nineteen seventy three, nineteen seventy five. I don't know the
early seventies, early seventies. So you want to make sure
that is sent out. And now I'm making sure my
LLC is air tight, okay, because you should in this
circumstance have an LLC. An LLC basically sets up a
shell that detect your personal assets from your business assets.

Speaker 7 (56:03):
Now that's important in our estate planning exactly. Let's elaborate
on that a bit.

Speaker 6 (56:08):
So when you have a business, it's not always a
great idea to get an LLC, but it's in this circumstances.
It is especially if you have rental real estate, because
you could if someone slips and falls on the property.
If someone complains about lead or get lead poisoning, you
don't want them to go after your personal assets. Now,
they may be able to go after the assets inside
the business, but everything else is protected. Okay, okay, but

(56:29):
you want to make sure it's air tight. Now, you
can go on to any of these websites legal zoom, uh,
and I don't want to knock them, but they'll prepare
the pretty documents for you. But you want to make
sure that you're conducting it like a legitimate business. If
you're not conducting your LLC like a legitimate business, you'll
get a fancy attorney. On the other side, it says
anyone can set this up, pay them five six hundred

(56:51):
dollars set up the LLC.

Speaker 5 (56:52):
Well, the way you began this conversation, you're making sure
that all your holes are filled.

Speaker 6 (56:57):
All my holes are filled. My bank accou ouncer inside
the LLC. I'm not using it as a piggybank. Okay,
it's not a personal asset. Of course, I can make
the distributions out, but I'm not going a safe way
and using my credit card or debit card to pay
for groceries out of the out of the rental real estate.
You're making systematic payments out of that business as though

(57:18):
it's being conducted like a business being sole and separate exactly.
And there's other rules when it comes to rental real estate.
But this is like any other business. If you do
have an LLC because you have a pest control uh
pest control business.

Speaker 7 (57:32):
You're needing pest control for your tent right right.

Speaker 6 (57:35):
Pest controlling. I told my wife I have no more
real estate agents as tenants.

Speaker 5 (57:40):
I oh.

Speaker 7 (57:44):
Just want And of course there's always two sides to
a story.

Speaker 5 (57:47):
I what I'm hearing now it seems like they're looking
for things to cause problems. Is how it's coming across
and why where's that energy? What's the purpose of spending
that energy?

Speaker 6 (57:59):
Like well, in the grand scheme of things, there new
parents and they're a little bit older and it's their
one and only. And I sent an email but I
didn't well, I didn't send it. I wrote an email,
but I didn't up sending it. And I said, look,
I get it. You guys are on high alert. You
have a newborn.

Speaker 7 (58:15):
But she's in real estate. She knows all this about
the thing with the leather that was all when they
moved in.

Speaker 6 (58:22):
Well, that's the why, that's how she's leaning on me,
because if you had, if I had a twenty year
old that went to University of Arizona or ASU, I'm
not going to get these kind of these complaints because
these are they're just coming in, they're living, they're going
about their business. I think that they're I obviously think
she's sitting around steing.

Speaker 5 (58:42):
But it doesn't make sense to me because she should
also know from the other side, representing clients, what you've done,
what you can do, You've done what you're supposed to do.

Speaker 7 (58:53):
On the other side, what is she looking for to
stick you with.

Speaker 6 (58:59):
I don't under We don't know exactly what's going on.
My wife thinks they're trying to get out of the lease.
I don't think so, because if I sense it, Hey,
if you guys want to break the lease, my philosophy
says she'll they're gonna end up staying, and they're gonna
want to stay, and they're gonna want to ride out
the lease. I just think that their new parents and
they're on high alert and they want to make sure

(59:19):
everything is hunky dory for the cut kid and I
understand the lead issue, but there's not because we painted
the walls three years ago, so they're freshly painted.

Speaker 1 (59:30):
But we've stopped.

Speaker 6 (59:30):
I mean, at this point we were managing the property
ourselves and it's gotten so bad we got a management company.
Our handyman when they first moved in, he gave us
a call. We've had him for three years. He goes,
this is the worst tenant you've ever had on. Just
be careful with them because they came with a laundry
list of issues. And so you can have those issues
with businesses, and that's why you want to set up

(59:52):
some protections in the circumstances that you don't know what
you're getting yourself into. Same thing with a business. If
you have a partner in a business, you you ran
a financial a financial company, like your husband, and he
brought on a partner, you know what if something goes
wrong with the partner, he turns out not to be
brings on a partner and it turns out not to

(01:00:14):
be who they say they are, or maybe they pass away.
Do you want to be fifty to fifty partners with
their spouse or do you want to be fifty partners
with their kids? So these are things that you kind
of want to set up. So you want to make
sure that you have all your ducks in order, because
these things do happen even to a lawyer. And I'm
losing sleep at night because of these people as a lawyer,

(01:00:34):
and I have real real estate attorneys to say to John,
don't worry about it.

Speaker 7 (01:00:37):
And you're better suited to deal with this than the average.

Speaker 6 (01:00:40):
Person, exactly exactly. And you know, at the end of
the day, you don't know what's going to happen. You
know how somebody is going to turn out, So you
want to make sure at least your assets are protected,
your family's protected. You have some peace of mind. Now
I have peace of mind, not total peace, but I
have some peace of mind. And so that's why you
should sit down with a lawyer and you should discuss

(01:01:02):
your LLC and see if it's being conducted correctly, because
if you do end up getting sued, we don't want
that fancy attorney on the other side piercing that veil
and going after your personal assets. And God forbid, you know,
someone does get lead poisoning in a circumstance that's a
pretty big deal in and if you read through, read

(01:01:23):
through the statute. If there is any any lead poisoning,
there are fines that are go along with that. If
you're not abided by, not abiding to what the statute
ask you know, that opens you up for litigation. So
I recommend you know everybody who set up an LLC
that that was basically di y or if you do
have an LLC that you did have some help with,

(01:01:46):
you should review that and review your operating agreements. Review,
have somebody review if you're making those systematic payments, because
it's really important.

Speaker 5 (01:01:55):
And if you would like to talk with Jonathan one
on one, you can reach I'm at six O two
eight eight O three three seven nine. And what's your
website if they want to reach out to you through there?

Speaker 6 (01:02:05):
Well, right now it's under construction, but it's Edward LAWAZ
dot com.

Speaker 5 (01:02:10):
Okay, and you can always reach him here at Greenberg
Financial Group dot com five two oh five four four
four nine o nine.

Speaker 7 (01:02:17):
We'll get you through to him.

Speaker 5 (01:02:20):
I think these are important conversations to have year end
and year through, and I'm glad you brought it up,
but it kind of leads me to another thing about
it's major life changes that might trigger, beneficiary changes, divorce, marriage,
new children.

Speaker 7 (01:02:40):
Adding to that family.

Speaker 6 (01:02:41):
Yeah, I have a new child.

Speaker 7 (01:02:44):
Congratulations, thank you very much.

Speaker 6 (01:02:46):
And it's it's a blessing. It's it was unexpected when
I found out. But now I'm so excited seeing her,
even though she's about a week old, seeing her grow.
She's already starting to fill out a little bit, you know,
because they come out yeah and wrinkly, and she's starting
to she's starting to show some human features. I guess
this is. Oh.

Speaker 5 (01:03:06):
I know.

Speaker 7 (01:03:06):
We're so happy for you.

Speaker 2 (01:03:08):
I appreciate it.

Speaker 6 (01:03:09):
And now I got more work ahead of me, you know,
taking care of kids and fixing my state plan.

Speaker 7 (01:03:15):
Yeah, exactly, So how do these life changes. Let's talk
about these triggers exactly.

Speaker 6 (01:03:20):
So you may have a state plan and you may
be a new parent, and you may have two and
now you have three. You had the two children's listed
as the primary beneficiaries. Well, guess why you got to
open it up. They have to add a new beneficiary.
Maybe your attorney drafted it so both all your kids equally,
doesn't name them specifically. Maybe that'll be a circumstance where

(01:03:41):
we may not have to make an update. But it's
always good to make updates to the trust to name
them or to the will and so so they get
the right the rightful due. And that's what That's what
I'll be doing. That's what I'll be handling after the
first of the year, is just updating my state plan,
you know.

Speaker 7 (01:03:58):
And do you find.

Speaker 5 (01:04:01):
Do most of your clients or people that reach out
to you come to you with with that in hand
or kind of last minute Oh no, we need to
do this.

Speaker 6 (01:04:11):
Sometimes I call them audible halfway through the drafting process.
But usually they have a sense of the reason they're
setting up a state plan is they know exactly what
they want where they wanted to go. But sometimes, you know,
I talk through it. We've discussed in previous, previous conversations
like this that yes, you may want everything to go.

(01:04:34):
I may want everything to go one third, one third,
one third, but I may get my nephews, my god
children thank you notes. You know, I call them thank
you notes, maybe five thousand dollars here, five thousand dollars there.
And then there's the situation where I was sitting down
with my my mom called me this morning. She says, well,
you know, what do the kids want for Christmas. My
mom is a late giver, right, so after the holidays

(01:04:56):
she gives gifts, and so she's I got about ex
amount of dollars for the kids. What would they like?
I said, you know, why don't we set up a
plan where instead of just giving them toys? Because they
got plenty of toys and I don't need any more
in my house, So why don't we set up, you know,
maybe a college fund or just put something on a
broken seclud So I spoke to your son about that,

(01:05:16):
and he came up with a good idea. Because I'm
not I'm not too keen on five twenty nine plans anymore.
So I want something where they're not just tied down
to education, because maybe later on down the road they
may want to They may want to use it to
invest into a business. They may want to put a
down payment on the house. They may want to buy
a car to go to work. So your son had

(01:05:36):
mentioned that maybe set up a brokerage account, and we're
we're the custodian, and I think that's a great idea.
Let it grow, you know, just add to what you
could add to it whenever you want, add little by
little and hopefully it's enough where they can get a
little bit of a jump start later on in life.

Speaker 5 (01:05:49):
Right, what let's talk about in detail how failing to
update beneficiaries can cause the assets.

Speaker 7 (01:06:01):
To go to the wrong person.

Speaker 6 (01:06:02):
I had a hearing this week that was the exact situation.
The father created a trust. He was a lawyer, so
he created his own trust. There were fifteen amendments, and
first off, if you have fifteen amendments, please rescrap everything
and start over. Fifteen amendments. So we had a hearing
for judicial interpretation, and we were mapping out these amendments.

(01:06:26):
Because one amendment got rid of this amendment got rid
of that. It added this beneficiary. He got rid of
this beneficiary. Now I represented the beneficiary. They got the
majority of the estate. The other opposing council that represented
the sister, she got the other fifty percent. But if
you looked at one of the amendments, I think it

(01:06:46):
was Amendment for it said my client got the entire house.
And then amendment seven said it didn't revoke that amendment,
but it said if there was I want to say
the client's name. If the house was to be sold
or to be distributed out of the trust. I wanted

(01:07:07):
both kids to get fifty to fifty. It didn't specifically
revoke it, but now we have a little bit of
a conflict there, so we need a judicial interpretation in
order to resolve it. My client was happy, their client
was happy, So they're going to go and you know,
the sisters aren't fighting anymore and they're happy. But but
the problem is is that he kept on updating the beneficiaries,

(01:07:30):
but he wasn't doing it properly because he a he
didn't practice in that area. And now there her attorney
spent fifteen thousand dollars on her. The sister spent fifteen
grand on an attorney just to deal with this. So
if you don't have a very expensive estate, maybe four
or five hundred thousand dollars, it's going to be split
two ways. You know, fifty thousand dollars a lot a

(01:07:51):
lot of money. Yeah, that's the money that doesn't.

Speaker 1 (01:07:53):
Need to be spent.

Speaker 6 (01:07:55):
So my recommendations always to have a if you need
to up the beneficiary update, update them properly, get legal consultation.
Don't always do it yourself, because even though you may
be an attorney, you may not practice in that area.
You have hand surgery. You really want somebody who's a

(01:08:15):
nose you're throat doctor.

Speaker 7 (01:08:17):
Absolutely not someone.

Speaker 6 (01:08:19):
Yeah, So that's that's my that's my recommendation. I recommend
that if you are updating beneficiaries, you're seeking legal counsel
because maybe it's not a good idea to have a
tenth amendment on there, because I guarantee that's going to
go to litigation for.

Speaker 7 (01:08:37):
The very reasons you said. The number four said one thing.

Speaker 5 (01:08:40):
So when they were up to number ten, they didn't
really probably go back to number four and even think
about that, it's easy to fall through that. And that
that leads me to another question, for you to highlight
mistakes people make with their beneficiaries and not that certainly
is a big one.

Speaker 2 (01:08:57):
Exactly.

Speaker 6 (01:08:59):
Mom promised me this, but it says this in the will.
Dad promised me this, but it says this, and the
trust it's it's you want to make sure that your
what you have is being written down is expressed properly,
because as people get older, they start giving things away,
and then I was expected to have this and that's
when litigation happens. And you know what happens in litigation.

(01:09:21):
Everybody hates each other. Oh, family members that resent each other.
That situation. I was talking about two sisters. They weren't
talking for a long time. The brother, their uncle was
the trustee. They hate him. They didn't hate, they hated him,
and it's it was sad to see. And then the
and then the uncle died, so his son was the

(01:09:43):
successor trustee, and now they hate the son.

Speaker 7 (01:09:46):
Oh, my god.

Speaker 6 (01:09:47):
So that's you don't want to create.

Speaker 5 (01:09:49):
Rest unfortunately, unnecessary, necessary, unnecessary.

Speaker 6 (01:09:54):
If you want to keep a harmonious lives amongst your
children or amongst your family member, make sure everything's clean,
make sure everything makes sense, make sure your wishes are expressed.
And if you do want to make changes, make them.
But don't always update the beneficiaries. When I say update
the beneficiaries, I mean tell them they're do something. Because

(01:10:17):
mal If I said, hey, you're going to be a
third one third designation on my on my will or
my trust and then I change that out twenty years
from now I die, Well, you're going to be knocking
on the door. So it's my one third. So it's
not always a good idea to tell the beneficiaries that
they're doing anything. You may want to keep the cards
close to the best see and.

Speaker 7 (01:10:39):
That that makes sense.

Speaker 5 (01:10:42):
So what about those of us out there that that think, well,
I just I just don't have that much. I'm not
gonna worry about it. They'll figure it out. There's not
that much property or not. I can do it online.
Can you talk to the benefit? Speak to the benefits
rather of hiring an a turn who specializes in this area,
such as yourself or one of the sites online. I

(01:11:05):
don't even need to name him. Everyone knows who they are.

Speaker 6 (01:11:08):
Well, for instance, I had a client, she's based out
of Phoenix, and she was in her nineties, and she
reached out to me. She wanted to set up a will.
She didn't have a lot, she was living in governmental housing.
She wanted to just do POAs in a will. She
didn't own a house. She had some retiring social security
coming in bank accounts. But the big thing was is

(01:11:29):
that she had three daughters. One of the daughters who
she trusted the most, she also trusted the least in
the same which is interesting to say. But so we
made she wanted her to be the power of attorney
for her. But the problem was is that we didn't
want her to have immedia only upon her capacity. So

(01:11:52):
if she went into hospice, or she went into an
she became you know, she developed dementia or Alzheimer's, then
they would be able to step in and manage their affairs.
But the problem was is that she didn't want to
give her immediate And there's a lot of powers of attorney.
And if you did it online, or if you did
it you know through the Arizona Superior Court website or
the Attorney General website, you may not understand the ramifications

(01:12:17):
of giving someone immediate power of attorney. And if you
did it through like I said, legal Zoom, you did
a power of attorney that has happens to be immediate,
and then you sign, You get that document signed and
notarized and witnessed, and they get their hands on that
power of attorney. That person has the ability to conduct
your financial affairs. What does that mean? They could transfer

(01:12:37):
real property, they can dip into your bank accounts, and
by law they have to do it. What's in your
best interest? But I get probably two phone calls a
week saying someone's abusing their power of attorney. So you
want to be able to just make sure you put
on those guidelines make sure you know the buttons you're
pushing are proper if you are going to do it DIY.
But my recommendation is always consult with an attorney to

(01:13:01):
see what is in my best interest. What powers do
I want to give to them. Maybe I don't want
them to deal with my governmental benefits. Maybe I don't
want them to deal with my real property. I only
want them to have the ability if I go into
a nursing home, to pay for the nursing home through
my bank accounts, and that's it. So you want to
kind of mold that power of attorney for what you
think is in your best interest.

Speaker 7 (01:13:23):
Well, it's worth noting.

Speaker 5 (01:13:25):
And I hope these conversations that we have weekly help
people realize that a little money, the money that you're
going to spend now upfront, in the long run, is
so much better and necessary and worth every penny for
protecting the solidarity of your family. The fact that you

(01:13:45):
said as kids were not speaking breaks my heart over
something that could have been avoided.

Speaker 7 (01:13:52):
So do it before.

Speaker 2 (01:13:53):
Do it now.

Speaker 5 (01:13:54):
Whether you call Jonathan at six Zho two eight eight
ZHO three three seven nine, or you have an attorney,
get with them. The new year's coming, a lot lots happening,
but this is a good time to really start to
revisit those things.

Speaker 6 (01:14:07):
Absolutely absolutely, It's it's never too late until it's too late.
But do it anyway, get that out of the way.
Like when you buy life insurance, when you get health insurance,
what do you have there? You have a peace of mind.
So as soon as you get that estate plan, you
do have some peace of mind. Now mind, you have
to review it every every year or maybe every other

(01:14:29):
just so it falls just so it reflects exactly where
you are in life and what's exactly you want.

Speaker 5 (01:14:35):
So as we close out twenty four, what is one
wish or one thought you'd like to pass on to
the listeners for.

Speaker 7 (01:14:45):
Getting started in the new year.

Speaker 6 (01:14:48):
Sometimes it just takes a five minute phone call with
an attorney, a one hour conversation, and then you can
have that piece of mind. That's it. An hour out
of your day, hour out of your three sixty fives,
twenty four, seven days a week. One hour that's all
it may take.

Speaker 1 (01:15:05):
So worth it.

Speaker 7 (01:15:06):
Yes, yeah, thank you so much, Jonathan.

Speaker 5 (01:15:09):
I know we all appreciate the information, the insight that
you give us each week. I actually look forward to
your stories. I'm really sorry for the michig os you're
going through with your renters.

Speaker 6 (01:15:20):
We'll see. I'll give you guys an update.

Speaker 7 (01:15:22):
Yeah, you're gonna have to keep us updated because.

Speaker 6 (01:15:25):
I may send out that I want you to leave letter.

Speaker 5 (01:15:28):
Yeah, well maybe they'll be listening. Well if they have,
you know, they have a new child. There's a better
way to spend their energy. Totally anyway, Thank you so
much everybody out there. Wishing you all a happy, happy
new year. We'll see you in twenty twenty five.

Speaker 6 (01:15:43):
See you then, chow.

Speaker 1 (01:15:45):
Good morning everybody, and happy happy holidays everyone, maybe Christmas,
happy Honkah and a happy new Year coming up for
everybody this week. You know, it's a party, fun holiday.
I hope everyone's having a good time. It seems like
it's a two week holiday when they're on a Wednesday
to a Wednesday, because you kind of have a Monday

(01:16:05):
Tuesday boom holiday. Then you get a couple more days weekend,
coverle more days holiday, coverle more days weekend. So it's
a nice for two weeks of enjoying hopefully family and
everything else and doing the things you want to do.
And you know, we la likes it and getting ready
for whatever next year has to come. They come quick, though,

(01:16:26):
I'll tell you that. But the year is almost out.

Speaker 5 (01:16:29):
You know.

Speaker 1 (01:16:29):
It seemed like because the Friday the markets weren't doing
very well, but you know what they were all up
for the week. Not they were only up maybe half
a percent. S and P five hundred is up point
seven percent, knights put NASAC was up almost one point
eight even the Russell was up point two. So for
the month right now, the only thing that is up
is NASDAC through up two and a half. The S

(01:16:51):
and P is down one, the Down's down four and
a half, Russell two thousand and down to eight. And
for the year they still have good, good, good numbers.
S and P up twenty five. Now IT'SAC up thirty one,
Downs up fourteen, and Russell's up ten. And the equal
weight that SMP is only up twelve. And that's where

(01:17:12):
the divergence is. You know, the we know it. We
knew it all year long. The technology stocks of what
drove this market. There was like seven eight stocks that
did very very well that continue to bring the markets
higher and higher as we wanted to it. And that's
okay if you had those. If you didn't, then don't
expect to have those big, big returns, but expect to

(01:17:33):
be okay and where you were. So we're coming into
the end of the year, so now what you hear
a lot of different things, but nobody really knows. You
know that. Do I think we're getting to the point
there stretching too high?

Speaker 2 (01:17:50):
I do.

Speaker 1 (01:17:52):
Do I think that the markets are a little bit overvalued. No,
I think they're very overvalued unless the earnings are going
to come in real strong. But the big key is
I don't think that the markets are going to accept
the initial burst in inflation that looks like we're going
to have. They're not going to accept the ten year

(01:18:12):
bond getting back to five percent. They're not going to
accept mortgage rates going back over seven percent and staying
there a little bit. Now, obviously everyone's going to just
start blaming Trump and you know that, and I know that,
and that's what's going to happen at the beginning. But
what's going to happen six months, a year, two years
from now. So I want you to be cautious until

(01:18:35):
we do have that market correction, because higher interest rates,
higher inflation, will cause the markets to get upset, and
you know the media is going to be all over that,
and you know that what's going to happen is we're
going to have to feel some pain until things turn around,

(01:18:59):
and they will, but it's going to be a fight
getting to Congress. The Republican Party does not do what
the Democrats do and just get in line and accept
everything that's shoved down their throats. They just don't do it.
You're always gonna have some Republicans that are going to
say no, and they're gonna have to compromise with them.
But you know, on the whole though, I don't have

(01:19:20):
too much of a problem with some of them not
compromising on cutting spending. I know they got in and
there was you know, basically a mandate on the border
and immigrants, and that's going to be taken care of,

(01:19:43):
but it was also on cutting inflation and getting jobs back. Well,
if we're getting rid of a lot of illegal immigrants
that have been taking jobs, I'm not talking about the
ones that have been here for ten and twenty years,
talking about the ones that have been here over the
last one to five years, they're gonna be open jobs.

(01:20:06):
My question is American's gonna take those jobs. And it's
a big question because they have become so accustomed to
handouts to entitlements to be giving things for the last
five years. If you just said you didn't want to

(01:20:28):
do anything for whatever reason, oh poor me, here's a check.
Ever since the pandemic, here's a check. We'll take care
of you. But it didn't work. You know, they talk
about cutting spending. Yes, it's gonna cost some money to

(01:20:54):
go ahead and find the criminal illegal immigrants and find
out the ones that are here illegally and deport them.
But how much has it cost to keep them? Billions
and billions of dollars are paid for by people in
states with sanctuary cities that cannot afford them. Here in Tucson,

(01:21:21):
we were busting out of the scenes. When we had
to house them and put them places, the burden came
down on us, and that's not fair. So, yes, you're
going to see some paint at the beginning, and you're
going to see spending at the beginning. But in the end,
I believe you're going to see something that's going to

(01:21:44):
change people's minds. We're going to see a shutdown border.
We're going to see immigrants coming in legally taking jobs.
But they have to take the second step that we
cannot use immigration as a political foot anymore. We have
to have policy to go along with shutting down the

(01:22:04):
border and opening it up to people that legally need
domicile here. We're not going to go away from a
humanitarian country. We're here with democracy because we are different
and we do care. But we need to care about

(01:22:25):
ourselves and get our poor people to the point that
they can go ahead and survive and do the things
they need to do, and that will help the economy.
You know, you've heard about basic income. Everyone have a
basic income, which means if you're not making enough money,
you get checks every month, whether it's a thousand, two

(01:22:46):
thousand bucks a month, again for doing nothing. The idea
that's being floated around now is being able to give
opportunities for people to create wealth. I like that idea.
Change the mindset. The mindset today is not where it's like, Okay,

(01:23:12):
give me an opportunity, and I know how to do
this and I'm going to make take advantage of it.
Today's mindset is it's not my fault. I'm in this position.
I need help, and you have to help me, that's wrong.
The mindset is, well, this is what I've done, this
is what my parents done, this is where I'm going

(01:23:32):
to be. My kids have to figure it out on themselves.
I can't do that. I can't do this. I work
too hard. I don't have enough money. That stuff has
to change. I've said this a million times. Wealth is

(01:23:53):
it on how much money you have. Wealth is it
on how much you spend of what you earn. If
you don't make a lot of money, that doesn't mean
you're not wealthy. If you spend more than what you make,
that means you're not wealthy. If you go ahead and

(01:24:13):
spend less than what you make and put money away
and let that grow for you. You have two earning sources,
the one that you get a W nine for and
you have to pay taxes on, and the one that
you're investing in for your future in a retirement account
that grows for you one you don't have to pay

(01:24:34):
taxes are it until later on. That's how you become wealthy.
Wealth isn't saying I have millions of dollars. Wealth is
saying I have enough money to pay for my family's bills,
have a house overhead, have children, feed my children, have

(01:24:54):
them be able to have opportunities to do things that
were maybe better than what I was able to do,
and they earn it, be able to take them on vacation,
so they have memories. But it's the values you teach them,
the morale, the morals you teach them. Those are the
important parts of making you a wealthy person, which means

(01:25:21):
then we become a wealthy nation. Because if we become
the land of opportunities and we don't give away opportunities
and just give away handouts, we're not the country of opportunities.
We're the welfare country of giving handouts because that's how
we get votes, and we saw that change. People want

(01:25:45):
to feel good about themselves. I'm not saying if you
need it, if you're disabled in those things that you
don't get help, of course you do. I'm saying those
that take advantage of the system, they need to be
waned off getting help and start looking for opportunities at

(01:26:07):
least for their children to be able to get off
that support system. They'll feel better about themselves. One of
the ways to cut down on drugs is my stopping
drugs coming in when in a way to cut down
on death is stopping drugs coming in. One of the

(01:26:28):
ways of cutting down on people robbing and killing people
is people feeling comfortable with their opportunities and doing well
in life. Not everybody's going to not have a life
of crime. People have a life of crime, but then
you need law and order. You do the crime, you

(01:26:51):
pay for that crime. If you rebiliate, your rehabilitate yourself
over a certain amounts of time, society should give you
second chance. Of course, not if you're murdering people in
cold blood. Not if you're a sickle, a crazy person,
a mental health person that's just going to keep doing
it again. Hell no, things happen in life. People make mistakes.

(01:27:21):
Second chances are opportunities for people. People coming to a country,
you just can't think that everything's going to be great,
but just saying oh, here you are, here's a check
or do something. Opportunities are made when they learn how
to do something for themselves. I've said this many times.

(01:27:45):
Make this a private public co op where you got
the public money and the private money coming together. As
people come here legally and need to basically go to school,
we're gonna have abandoned campuses. Let's start bringing them the campuses,

(01:28:09):
teaching them English, give them moom and board, teach them
the skills that they want, paid by both public and private.
Meaning if you're a good technician, if you know technical work,
then Microsoft and Silicon Valley can chip in and they
can find the best people that are in technology and

(01:28:30):
the best brains, and then that this is a source
for them to bring in help. If you're a dentist,
end up learning about dentistry. Maybe he has a dental assistant,
whatever it is you learn now the dentist industry, industry,
and the and the UH and doctor's assistance, this is

(01:28:52):
a place that they can go get help. Agriculture, hospitality,
all these big industries, how to work in certain factories.
Everybody chips in, helps out, trains, allows these people to

(01:29:13):
become assimilated into the American way, learn the American history
and get jobs. Now they get jobs, they pay for healthcare,
they pay for Social Security, they pay taxes, and they
learn to go ahead and become incredible American citizens. And

(01:29:40):
as opportunities arise for them, they're happy. Now they're coming
over here and making more money because that's where it is,
and sending it all out of here not being taxed. No,
I don't want to see that if you come over here,
because you can make ten times the amount you can
make in any country, and you to do it and

(01:30:00):
you meet the qualifications. If you want to send money out,
it's after taxes. There's a lot of things we can
do to help our economy and help people that need
to be here either asylum or want to be here
and go through the legal process. But we need to

(01:30:23):
start doing that, and that's going to be the first
and foremost. You know, colleges are going to take a
beating here soon. Been watching it happen if you notice
more and more people getting into colleges have less and
less the academic qualifications that were five ten years ago.

(01:30:51):
And obviously a lot of this started with all the
DEI inclusivet saying everybody needs an opportunity. That's the sheep
in wolves clothing, because what they did is allow different
people in only to go ahead and promote the culture

(01:31:14):
that just got the Democrats fired at our campuses that
became so liberal that people forgot why they went to school.
And now we have an opportunity to actually allow people
to go to school and start learning what they should

(01:31:38):
be learning the way schools are going to be if
they want to stay open. There are going to be
people with less academic qualifications getting in, but that doesn't
mean when they're there you can't make sure that you
keep your academic qualifications. But you're going to have to

(01:31:58):
make sure that they learn no different than athletes that
go there who have what they have tutors at their
becking call. Well, maybe what you're going to have to
do is have tutors there for the people going to
school and allow them to have access to people that

(01:32:19):
can help them get through their education. But again, the
person that's going to go and spend that money, you're
going to see a different type of person going, and
that's okay. It'll be the people that maybe are the
ones that can just didn't do really well they're freshman

(01:32:40):
or sophomore year in high school, but turn it around
their junior senior year and realized that they wanted a
better life for themselves. They're going to get chances and opportunities,
and now it's gonna come down to who can afford

(01:33:01):
and who can't. I have not seen one solution by
this administration other than I'm going to go ahead and
pay off your student loan. So people going to school
today thinking, hey, if I don't pay my student loan,
down the road, there may be the white belt my
student loan. It doesn't work that way, but we need

(01:33:25):
to fix it. We need to fix tuition, We need
to fix the way they just give out free money
to all these people without them really understanding that it
needs to be paid back with consequences. And so with
that said, how do you do that. I have no
problems offering money to people that want to go get

(01:33:48):
and go to school, but they probably need to keep
a certain GPA to get the loan. And if they
get the loan and they're keeping a certain GPA, it's
a low interest loan, and then they keep over three
oh maybe it's a free loan, which means there is
no interest, especially when they're going to school, no interest,

(01:34:10):
and then when they come out, keep the interest low
rather than forgiving it. If you are just paying back principle,
it'll get paid back a lot quicker when the interest
is compounding. It's through the roof. You want to help
the American people teach them about good credit by rewarding

(01:34:32):
them when you have good credit

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