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

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Good morning. It's Sunday morning, July sixth. This is the
Independence Day version of the Money Matter Show. I'm Dave Sherwood.
I'm here with Todd click Junior. I'm here with Sebastian Borstein.
We hope you're all enjoying what is the long weekend
for many, with a fourth falling on a Friday. It
worked out perfectly and we're now firmly actually in the
actual monsoon season, not the pseudo monsoon season, but the

(00:22):
actual mon season. We're hoping for frequent and significant rainfall.
I have been asked over the last couple of weeks
if Dean is fine, if Dean's health is okay. Dean
is fine, Dean is enjoying an extended period with his family,
and Dean is just fine. He will be back on
the radio, although I think that he comes back from

(00:44):
his trip and goes on another trip, so I'm not
sure if it's going to be much before August, but
we're trying to fill in. I know you missed the
first half hour monologue. We all do, and you know,
cause you've got to get get caught up on the
politics there on that I always call it the political
half hour for Dean, But I think you all know
what's going on, and the market is is powering the

(01:09):
new all time highs on all kinds of excitement about
Trumpetomism and the new trade deals and corporate earnings being good.
The economy is still being strong. Interest rates are starting
to move higher. However, they did move higher this week.
That's potentially problematic. It means that Paul probably doesn't lower

(01:33):
interest rates in July.

Speaker 2 (01:34):
Yeah, I don't think that we have any expectations for
a lowering in July, but he could signal of when
he's going to do it in July, and that largely
is going to be dependent on those labor reports and
the inflation numbers. He said that inflation has no idea
where it's going to be because of tariffs, and said
even last week that he would have already cut if
it wasn't for the tariffs. So that was one big

(01:58):
headline that he I.

Speaker 1 (01:59):
Agree and I don't, Todd. I don't think we're gonna
hear about when he's gonna cut because he doesn't know.
It's like you said, just said, it's going to be
dad to dependent. So maybe we'll have one or two
cuts later this year. Maybe we won't.

Speaker 2 (02:11):
Well, what I'm trying to say is if there is
another inflation report that comes out lower than expectations, that's
when he might say, all right, data is starting to
look good. We're looking to start lowering rates, maybe in
the next meeting or the meeting after that.

Speaker 1 (02:25):
And I'm thinking, if he's starting to lower rates, that
means the economy is softening. So maybe we don't want
him to lower rate.

Speaker 2 (02:32):
Yeah, but we know how the market works. Bad news
is good news, and right now all news is good news.

Speaker 1 (02:37):
Right now, all news is good news. Very well put,
that's exactly getting periods like that where all news is
good news. Sometimes all news is bad news, but right
now all news is good news. Let's go pedals to
the medal. Get me in. I had an eighty one
year old client call me late in the week and said,
we got to get in, man, we got to be
more aggressive here. And today I always say, no, you've

(02:57):
spent time determining your risk tolerance, and the worst thing
that can happen is to get more aggressive at the
top or more conservative at the bottom, which is very natural.
It's very natural. But I told this gentleman who's sixty
percent invested in the market. If the market keeps going,
you're going to do just fine. And if it doesn't,

(03:19):
you'll be fine as well. So just keep your risk
tolerance in mind. When it's like this, there's a real
fomo out there, you know, fear missing out that's really
run and rampant right nowadays, and you can't make a mistake.
The market goes up every day, right just to buy anything.

Speaker 3 (03:34):
One of the bigger headlines that came out this week,
I think, was on Wednesday, and it was that the
US struck a trade deal with Vietnam. Huge, huge trade deal.

Speaker 1 (03:42):
Right.

Speaker 3 (03:44):
You take a look at the numbers, and there were
United States of America is going to impose a twenty
percent tariff on Vietnam imports, right on imports from Vietnam.
That's inflationary to me.

Speaker 1 (03:57):
No, there's no question about it. But who then they
have become one of our primary suppliers. He went one
more step though, and said forty percent tariffs if things
are around about China's trying to ship things to US through.

Speaker 3 (04:10):
Vietnam, which happens quiet.

Speaker 1 (04:12):
I'm not sure how you can monitor that, but hopefully
there's a way.

Speaker 3 (04:17):
It was very interesting to see the price action on
those companies that have exposure to Vietnam, such as Nike
and Lululemon. I think initially they ramped up and then
ended up falling off toward the end of the day.
I'm not sure how they finished the week out. But again,
I just don't see how this could be such a
you know, benefits.

Speaker 1 (04:34):
Yeah, they were pushing towards the highest Apple. Apple caught
a bid this week. iPhone shares increased in China in
June for the for the first time in two years.

Speaker 3 (04:46):
I think the more I think Apple caught the bid
more so because of the news that was coming around
to the Open AI. I don't know if you heard that,
but they're saying that they want to integrate to the
Open AI within the series. I think that that would
be of that would help them out.

Speaker 1 (05:02):
Yeah, that was the primary thrust. We got a couple
of point pop on the iPhone sales news, which is huge.
But you know we've sat on the show many times.
They need to buy somebody, they need to find somebody creative,
they need to come up with something new.

Speaker 2 (05:16):
And just so you know, like I have chatgy bt
already in the Siri in the iPhone. It's for the
new ones, and I think it's like fifteen and above.

Speaker 3 (05:24):
So why was this such a big headline for I
don't know.

Speaker 2 (05:26):
And I've already heard that headline before. They've already made
that partnership, So I don't know why that now is
coming out. Because if you've been on my phone for months.

Speaker 1 (05:35):
Well you say it's been on your phone todd as
an app or No.

Speaker 2 (05:37):
It's built in. So there's an AI mode on the
new phones, okay, And there's like a new button that
you would hold and then it's just like Siri, and
it's it asks you do you want to ask this
through Siri or chatgy bt early and then it will
go through chaggybt if you ask it.

Speaker 1 (05:54):
I don't know about you guys, but my experience with
my iPhone is a serious lagging behind.

Speaker 3 (05:58):
Yeah. I never absolutely never use it.

Speaker 1 (06:01):
Yeah I don't. I don't either.

Speaker 3 (06:03):
I get annoyed if I use it. I mean, I'll
ask it to set a reminder for tomorrow, and it's like,
do you want to set a reminder for twenty seventy four? No?

Speaker 4 (06:09):
I don't.

Speaker 2 (06:10):
Yeah, it's it's not terrible with reminders.

Speaker 1 (06:12):
But probably it is lagging.

Speaker 2 (06:17):
Yeah, in terms of information gather.

Speaker 3 (06:19):
Also, let's think about it, like, okay, fine, you integrates
the open AI, the chat GPT into Siri. That doesn't
just generate all this profit for Apple as a company, right,
I mean you sure does provide some data that they
may be able to sell to other companies, But how
do you monetize artificial intelligence within the phones?

Speaker 1 (06:39):
Like?

Speaker 3 (06:40):
Where is it going to go? Further than just Todd
asking Siri a basic question?

Speaker 1 (06:45):
That that is, the stock is still twenty eight times
earnings expense, very expensive stock based upon the earnings and
the and the lack of consistent growth.

Speaker 3 (06:57):
Yeah, before we go in it further. The show is
spun by the Greenberg Financial Group and you can listen
on seven ninety K and st or iHeartRadio. This show
discusses different investment products and strategies. Every product and strategy
have some type of an inherent risk associated with it,
and we strongly encourage our listeners to properly understand the
risk of determine whether to buy, sell, or hold. Show
has been on air for over thirty years. The Greenberg

(07:18):
Financial Group is registered with the SEC. Visit our website
at Greenberg Financial dot com for some more information. We're
doing financial plans each and every day. Give us a
call five two zero five four four four nine four
nine zer nine.

Speaker 1 (07:30):
And my tagline to that is, if you hear us
doc on the show, we're not recommending that stock because
we don't know your investment objective, we don't know your
risk profile. We're informational only, all right, So if we
say this doc looks attractive, it may not be for you.
It was not certainly not pointed.

Speaker 2 (07:48):
One of those stocks that we've been talking about on
this show that we have not been recommending, but we've
been talking about is First.

Speaker 1 (07:54):
Soldo Credible Day, incredible week, Yes.

Speaker 2 (07:57):
Back to back days of eight percent gains on Wednesday
and Thursday. And it was largely due to the idea
that the new Act, the Big Beautiful Bill, they're gonna
cut subsidies, but really only cut subsidies for the Chinese
made solar companies, and so it allowed for Solar to
sidestep that pain that really hurt every other solar company

(08:18):
because it seems like every other solar company has some
type of big exposure to China. So that was a
big deal for First Solder and they caught a really
nice bid off of that.

Speaker 1 (08:27):
Well, if you feel your competition is going to go
going to be having trouble, that's a good thing.

Speaker 4 (08:32):
Yeah.

Speaker 2 (08:33):
Not only do you get sidestep the tariffs, but your
competition are going to have harder pricing power to begin
with that as well.

Speaker 3 (08:39):
We joke about it all the time, but these poor
solar analysts, they just keep push pulling. You know, we're
gonna do the solar credits. We're not. Just let them
go home, guys.

Speaker 2 (08:48):
Yeah, being an analyst for a solar stocks got to
be tough.

Speaker 3 (08:50):
Holy moly, it's every other day that they're flipping these things.

Speaker 1 (08:53):
It's amazing, especially in this environment with this administration. Yeah,
but you know, it's a holiday weekend and if you're
listening on the radio, you're getting a lot of replays.
You're getting a lot of reruns, a lot of stuff
is you know, people want to go out and enjoy
the holiday and this first hour is live, but the
second hour, Town, we're gonna we're gonna go the same

(09:14):
route as everybody else.

Speaker 2 (09:15):
And yeah, we're gonna see you some general financial planning.
I mean, we do our TV shows every single Sunday
before Meet the Press, and after the Sunday ten o'clock news,
and so you can always watch those on NBC, KVOA
and your local usually it's Channel four, but you can
also listen to those on a recorded We just take
the audio and put on our Saturday shows normally, but

(09:36):
we're gonna take those and put that in our half
hour two of our half hour shows in the in
the second hour of this show, and it has more
general information around financial planning. So it's not gonna be
specific to what happened this week, but it is gonna
be specific to financial planning.

Speaker 1 (09:52):
It's gonna be helpful in other words. Yes, the UH
for the week three and a half day week and
the Dow was the leader as people look for what
hasn't moved yet. This is typical of late stage rallies
UH is the Dow starts to get a bid. You'll
notice that the RSP, the equal weighted S and P
five hundred was up two point four percent UH versus

(10:15):
the S and P up one point seven And that's
simply a broadening out of the rally. People again looking
for things that haven't moved.

Speaker 3 (10:24):
And big one of that Russell two thousand. Once the
small caps start moving. That's that's a big deal.

Speaker 1 (10:29):
Yeah, And that's that's again, that's one of the one
of the few industry. Russell after a three point six
percent gain last week this week was up one percent
for the year, s and P five hundred up six
point eight percent for the year, leading the way, NAVDAC
up six point seven percent.

Speaker 3 (10:45):
Russell two thousands, still ten percent off off its size.

Speaker 2 (10:49):
And that's really the idea that if you have this
fed cutting rates and the few, that's gonna help. Really
the small caps stucks more than the large cap because
you have a lot of priced and growth already in
the large cap. You know, cutting rates probably isn't going
to send them into new crazy territories. But for the
small caps still being ten percent off the all time highs,

(11:11):
they have plenty of room to go.

Speaker 1 (11:13):
The market valuation, with another one point seven percent on
the SMP, market valuation is excessive. We are the SMP oscillator,
which is a technical tool, is rather dramatically overbought. I
would think that next week we probably start the week

(11:35):
with a pullback. I'm not concerned. In this environment. It's
hard to envision something significant to the downside because there
are so many people that want to be in. There's
so much enthusiasm, there's so much confidence that Trump's going
to get it right that I think a lot of
people don't aren't simply not interested in selling. And I

(11:58):
think Sebastian, you said we're talking on Thursday, and you said,
I can't I can't even imagine what it.

Speaker 3 (12:03):
Is Wednesday Wednesday, No, no, no, you're right, yeah.

Speaker 1 (12:07):
Yeah, I can't even imagine what would bring this market down.
And from my years of experience, you won't know until
after it happened. It's going to be something weird.

Speaker 3 (12:17):
And that's the same thing that we were saying headed
into that weekends that we ended up shooting missiles that
I ran, you know, and then that was the black
swan in our heads. But ultimately and Monday opened up
down and we ended up going green that.

Speaker 2 (12:31):
Day to be one of the big risks. We're going
to be the big beautiful bill and getting that past
the House. We know it got pasted, the Senate goes
back to the House, and then Thursday night there was
just some rumors that it didn't It got tied on
a procedural vote.

Speaker 1 (12:45):
With Wednesday Night got Wednesday Night future on the day
me too.

Speaker 2 (12:49):
Procedurally they weren't able to pass it through debates and
things like that. So it's not that the it hasn't
passed completely, but there are some holdouts. There's one more
nay that kind of throw a wrench into the whole plan.
So will it get passed by July fourth? That doesn't
necessarily look like it's gonna happen.

Speaker 1 (13:05):
I just wish that wasn't a south and post deadline.
There's nothing special about July fourth and what is just
forcing people to make decisions that may not be in
our best interest. But as we sit here on on Thursday,
before the fourth of July weekend, it does look to
me like they've they've gotten the.

Speaker 3 (13:25):
Yeah, but why not impose a strict and faster deadline
because you know what they're gonna do, Like they're going
to extend it either.

Speaker 2 (13:30):
Wall and reach the bill.

Speaker 1 (13:32):
I think, I think, I think probably when this is
being recorded on Sunday morning, the big beautiful bill will fast.
That's my guess.

Speaker 2 (13:38):
Yeah, I mean, based on what I'm saying, I don't
think that will happen, but it may. But I think
the whole point of me bringing this up is if
it had any potential of it not passing, and the
market then reacts the next day of it going up
one percent. I don't think the market necessarily cares either.

Speaker 1 (13:55):
I think the market would care if it were killed.

Speaker 2 (13:58):
If it was killed as one thing, but I don't
didn't give it a shelves meaning it it's going to
pass in a month or two.

Speaker 1 (14:03):
I don't think it's going to as long as you
as long as there's some imminute it could. It would
be the largest tax in creation history, which of course
would not be real good for the economy, right, And
I understand how that runs up the deficit. And you
can certainly make a case, well, you know, don't extend
the tax cuts, give the government more money to help
pay their bills. But then we all know what the
government does with money. They squander it. So none of

(14:26):
us are really that interested in giving more money to
the government because we know what they've done with what
we gave them.

Speaker 2 (14:32):
Yeah, and there's a lot of things that you know
past that the Senate in that.

Speaker 1 (14:38):
Big beautiful a lot of changes.

Speaker 2 (14:40):
Ten thousand dollars you can deduct if you if you
had a car loan from January first of twenty twenty
five through twenty eight. I got my car loan on
December twenty sixth.

Speaker 1 (14:52):
It's twenty twenty four, So you made it by day
you missed it.

Speaker 2 (14:56):
I missed it by five days. Five days, Okay, it's
like those MAGA accounts. Could you imagine being born on
December thirtieth, twenty twenty four and your kid doesn't get it.

Speaker 3 (15:05):
That's very, very insight to incentivizing for that industry.

Speaker 1 (15:08):
The cave they did cave on the salt tax.

Speaker 2 (15:11):
They got the salt and they have sex six thousand dollars.
Maybe I got up to ten thousand for the solid security,
but for.

Speaker 1 (15:18):
Seeing it's actually a increased personal exemption for older people
of a certain income.

Speaker 3 (15:26):
Right right, Wait, going back to the deduction on the
car interest.

Speaker 2 (15:31):
How much five thousand is ten thousand a year?

Speaker 3 (15:34):
How many people were paying ten thousand dollars in car
interest loans on a yearly basis?

Speaker 1 (15:40):
I don't even I don't even know you, but the
cars are so darn expansive.

Speaker 3 (15:43):
I mean, I know, but I can't imagine that.

Speaker 2 (15:45):
I thought this was interesting though. I wanted to give
like a simple example of a married couple both sixty
five plus filing jointly making around forty five k sold security,
forty thousand in IRA distributions, and a twenty thousand dollars pension,
So one hundred and five thousand dollars total income. If
you did all that with the New Act. If they
passed the New Act, they're essentially going to save around

(16:06):
one in taxes that they would have had to pay.
I just I think it's so that gives an idea
for people like what There's a lot of minutia in
those things. It's like, what does it actually mean for
me at the end of the day. That's what it came.

Speaker 1 (16:19):
We were talking earlier in the week about how the
optics on this are just not really good, very good, right,
I mean, you're taking money from four people and giving
it touch people at the end of the day.

Speaker 2 (16:30):
Well, that's what the Yale University study says.

Speaker 1 (16:32):
I know I've seen that in other studies as well,
and you can make that case. And but the other
option is is do not extend the tax cut, which
is the primary thing Trump wanted to get out of
this is having his tax cuts become permanent.

Speaker 2 (16:46):
But also over time and tip income ex solusion for
up the twelve five hundred per person and reports though, Yeah,
but over time is always reported.

Speaker 1 (16:55):
Yeah, the reportedive tips just kind of kind of a joke.

Speaker 2 (16:58):
Right, the tip one is And again there are plenty
of food and beverage that get their tips reported on electronically.

Speaker 1 (17:04):
Yes, we had a big birthday last week, if you
guys were celebrating or not to have eighteenth birthday for
the iPhone, Oh eighteen years ago. He stood up in
front of us and told us what this thing was
going to do. And I sat there and Washington said,
are you crazy? It's a phone, You make calls, you
receive calls. What are you talking about? So, I mean

(17:26):
that's how far Steve Jobs was ahead of the rest of.

Speaker 3 (17:28):
Us on that can just place trades off.

Speaker 2 (17:31):
And now you think AI goggles are stupid. I'm never
going to have.

Speaker 1 (17:34):
That good point. I have a good point why. And
it really wasn't me saying they're stupid, although I think
they are.

Speaker 3 (17:40):
All those people of our generation.

Speaker 1 (17:41):
There was young people, five of six young people that
I that I did a survey my time, my own
informal survey said young people don't want this. Well, if
young people don't want this, I know old people don't
want this or don't need this. I'm not saying don't
want it, but I don't want anything to do with
the Internet on my glasses.

Speaker 3 (18:01):
I think it would be so cool to have it,
you know, interactive with our monitors and stuff here at work, Like, yeah,
it would be super neat.

Speaker 2 (18:07):
I was talking about how I'm going to Berlin in
September and I might need to get a pair of
those glasses so I can read German, know what it's
saying in English and all that. Going to a German
restaurant and just look at the menu and it just reads.

Speaker 3 (18:19):
It translate, translates a back, yeah, turn app to that.
Well yeah, but what about just having it on my face.
I don't have to hit a button to say translated already,
it's already translating real time.

Speaker 1 (18:32):
For this clearly will not lead to more eye problems.

Speaker 2 (18:35):
I can see that, like headphones leading to more ear problems.

Speaker 1 (18:40):
Absolutely much about it and being in a rock band
when you're a teenage.

Speaker 3 (18:44):
Well, I mean just the simple three years that I've
been working here, two and a half. It's my eyes
have degraded looking at these monitors. You know that everything's
gonna it's not.

Speaker 1 (18:53):
Yeah, and so you want to add to that by
putting it on, why not take it when you go right?

Speaker 2 (19:00):
At least it's the sea through technology, you're still mostly
seeing just your world.

Speaker 1 (19:04):
We need we need a we need a little bit
of a pullback in the market. Trees don't grow to
the sky. These parabolic moves tend not to be sustainable.
And generally the higher you go on a parabolic move
like this, the further you're going to drop. So be
nice to see a little, you know, three to five
percent pull back, get a little bit more firmer base

(19:26):
under us to where we could get a little bit
of this enthusiasm out of the market. Get right now.
It's just the bullish sentiment is so strong, the Vicks
is so low. I mean, everybody is just knows that
the market's going to go up every day. It's just
a question of how much. And those are environments where
you really need to be careful. And I said last

(19:49):
week this is not a time to be all in.
And you know, well we went up to another two percent.
I get that it's going to come back down now.
I'm not suggesting that there's going to be a big
correct because I don't think in this environment with the
good things coming that we see coming and happening. And
I'm a not a Trump fan, but I'm a Trump support.

Speaker 3 (20:11):
Big correction, you mean how much like ten?

Speaker 1 (20:14):
Yeah, you can get a five percent pull back at
any time. Would a ten percent pull back It's it
would have to be some kind of a Black Swan
event for the pullback to become more severe. The complacency
is what's troubling me. The complacency is what's bothering me.

Speaker 3 (20:33):
Just anything working right.

Speaker 1 (20:34):
Now is everything's working, and the dolls coming on, and
the RSP is coming on, and eighty year old people
are wanting to be more aggressive, and it's just it's
a kind of an environment where you have to be careful.

Speaker 2 (20:48):
And I think the last earning season, we had an
ordeal where people were really worried about tariffs and how
company profits and growth we're going to look going into
the future. And then companies reported and they largely beat
estimate estimates because estimates were just pricing in so much
of a further drop than what really was going to occur.
So you got those expectations beat help build some momentum.

(21:10):
But in this next earnings, you're going to have the
opposite of you have very high valuations. So now the
earnings have to back up the valuations.

Speaker 1 (21:17):
The bar not get a joy.

Speaker 2 (21:18):
The bar is right. So now with that higher bar,
they have to show some numbers. And we didn't have
a necessarily super hot quarter, so that could easily bring
us down, you know, five percent, just by earnings not
coming in the way they should.

Speaker 1 (21:32):
The banks announced last weekend that all major US banks
passed the annual government stress test that was put in
place during the Great Recession in l eight, sending the
Financial ETF to a new all time high. Many of
the banks received upgrades from various analysts and many several

(21:54):
of them increased their dividend, and the ETF performed very nicely.
And on Thursday, I took one of my bank stocks
out liquidated it. So I think, thank you very much.

Speaker 2 (22:06):
That reminds me of the bank sucks. When we look
at bonds, a lot of banks will be rated as
investment grade, but they're not really rated high on investment grade.
They'll be like triple B. And so for those who
don't know, investment grade are anywhere from you can get
a double plus down to I think it's triple B

(22:26):
plus and then triple B minus and below is junk
bond status. But you can get really good names like
Goldman Sachs JP Morgan that are going to pay more
than a treasury that's at an A plus rating versus
of corporate that's at a triple B plus rating. But if,
for example, they're running stress tests on a company on

(22:47):
a bank saying no, they're good, they have their financial obligations,
you can be pretty sure that a JP Morgan isn't
gonna go out of business.

Speaker 3 (22:55):
Right, And I bought a Goldman SAX bonds earlier this week.
The comparisons to the treasure Goldman Sachs was a triple
B rated bond. I think it was fifty sixty basis
point spread, right, I mean what, I'm not really that
worried about JP Morgan going out of business.

Speaker 1 (23:11):
Yeah, if you are a bond buyer, that's absolutely very
good information. I was i Chevron double as I was
able to get forty basis points above the treasure on Chevron. Yeah,
and I took it out to twenty twenty nine because
I'd like to have a little bit longer paper and
just in case we do start seeing interest rate drop,
I've got that four point one percent for the next

(23:33):
four years. Lock absolutely so a lot we have bonds
in our bond accounts. We've we've maintained short term because
we're just not clear but really where we're going with
interest rates. So we have one, two, three, four, five.
We do a ladder and we take a period of years.
And the nice thing about a ladder seeve asked, is
that if interest rates start, if you get higher interest rates,

(23:54):
well you've you've you've got some short term paper that's
going to mature and take advantage of that. If you've
got if you've if interest rates start to fall, you've
got longer term bonds that can take advantage of that.
So when you don't know, and then most of the
time most people don't know, a bond ladder gives you
that ability to capitalize on either one of those moves

(24:15):
and kind of head yourself anyway. We'll be back. That's
the end of the first segment. We'll be back right
after this break. Thanks for joining us on this Independence
Day weekend.

Speaker 2 (24:25):
Welcome back to the Money Matter Show. My name is
Todd Glick. I'm here with David Sherwood and Sebastian Borsini.
This week, the market went into more price discovery mode
as the S and P five hundred and Nasdaq are
going even higher into record territories, but the doll still
has not reached its new all time high yet it's
lagging behind thirty stock doubt It's why we always talk

(24:45):
about it. One of the stock's in there, though, that
did have a good pop was Nike, even though they've
had some turmoil with the Vietnam trade deal and all that.
And another stock that was in a lot of news
was Tesla. And the Trump or A Deal and Musk
feud that seems to keep bubbling up every time it
seems to simmer out, and this time Trump says we're

(25:08):
gonna look into deporting him. And let's ask some question.

Speaker 1 (25:12):
I mean, you get the richest man in the world
and the most powerful men in the world, and and
they're neither one of them are gonna be second to anybody, right,
And they both have these personalities where you shoot first
and ask questions later. So they both stay stupid stuff
and then backtrack on it. And they got they got
to going at it again, and I would argue that's

(25:33):
not good for the country when when Musk and Trump
are threatening each.

Speaker 3 (25:37):
Other, and no, it's not great.

Speaker 1 (25:39):
You know he's gonna Musk is gonna unseat every Republican
that votes for the bill. Yeah, sure you are. And
Trump's gonna deport Musk if and cut off all of
his subsidio subsidies because then he'd be broken and have
to go back to South Africa anyway.

Speaker 3 (25:53):
You know, it's like, really, well, then elone could just
buy the buy the citizenship. Remember you could buy it.

Speaker 1 (25:58):
We won't have any money. He's broke. But that that
Tesla thing goes back and forth. I'll tell you Disney's
fifty percent above is fifty two weeks old. And now
this is the stock that we've had in our accounts
for a long time, and it's really been a horrible holding.
This has not performed, has not performed, been at the

(26:19):
bottom of the thirty stock dow for forever.

Speaker 3 (26:22):
Where's it now, it's it's right in the middle, right
in the middle.

Speaker 1 (26:25):
Still. Yeah, but it's up fifty percent in the last
fifty two weeks. And that's guess what Jefferyes decides to
do there sashion what do they do? You're gonna raise
it to a buy.

Speaker 3 (26:35):
Why not.

Speaker 1 (26:36):
Yeah, you're gonna raise it to a buy. It's come
fifty percent, let's buy it. Investment firm said Disney's park
bininess is holding up well and that the cruise revenue
could jump in twenty twenty six when they start two
new ships.

Speaker 3 (26:47):
So you have a new park coping up in Dubai
forty sure.

Speaker 1 (26:50):
Yeah, it's a It's one of those stocks that has
so many moving parts that if all of the moving
parts come together, that would be the theme parks streaming
the ships. Right, if all of that were to come
together at once, You've You've got a very strong company
whose docks should be higher than it is today. But

(27:12):
it's come up fifty percent. So obviously some people are
seeing that seeing that on the horizon. I noticed too
this that this is kind of the thing we wanted
to see when Trump was elected. Todd Hellett Packard and
Jennifer Networks. They both rallied on Monday after the US
Department of Justice settled his lawsuit challenging the takeover hell
At Packer's takeover of Jennifers. You know, that's what we

(27:34):
that's kind of what we want to see. We want
to see less regulation, combinations that make sense being allowed
to go forward. And I think that's a lot of
why the enthusiasm in the market. You where, Netflix hit
a new all time high on Monday after NASA announced
live programming on Netflix. NASA is going to do live

(27:55):
programming on Netflix. They're going to include rocket launches, spacewalks,
and views of the Earth from space, Like we haven't
seen that before.

Speaker 3 (28:03):
I didn't know that we could do that, or that
they're still doing that live streaming.

Speaker 1 (28:07):
NASA live streaming on Netflix.

Speaker 3 (28:09):
Thought SpaceX took over that.

Speaker 1 (28:11):
I was no.

Speaker 2 (28:12):
I used SpaceX rockets to send their stuff up. They
still have a program.

Speaker 1 (28:16):
I was a Wednesday anders I was looking for again,
this is the time of the year where where it's
kind of a dark hole for sports. Now if you're
a big fan of baseball or soccer or the w
n B A I apologize for that, but it's pretty
much of a black hole where the NBA season has
ended and we're waiting for football season to start, and

(28:38):
I'm sitting there and my wife was at some function
or whether I know what's what's on. I look, you're
thinking there's a w NBA game on right so I go, Okay,
w NBA takes me to Amazon. It was on Amazon.
I couldn't find it looking all over the place for
the w NBA game. And I'm thinking, really, you know.
And then my wife came in the in the living
room the other night. She goes, you're watching bowling. I said, no, no,

(29:01):
it's worse than that. It's women's bowling. I was watching
women's bowllying. Wow. Yeah, that's that's.

Speaker 2 (29:07):
Going to find a showy you know.

Speaker 3 (29:10):
Wait, this was when Wednesday night, Come on, Clinton kershell
Is pitching. He was making his debut. Who was Clayton
kershel Is back?

Speaker 4 (29:18):
Right?

Speaker 2 (29:18):
His debut? Is wasn't his debut? Is the night where
he hit three thousand strikeouts? That's all the base twentieth
baseball player of all time to do three thousand strikeouts.
Shout out to clay Cursha, I got, I got.

Speaker 1 (29:28):
I'm just not a baseball fan. I just a couple
of a couple of reasons. Number one is just quite boring,
and number two, my wife's ex husband was a professional
baseball player.

Speaker 2 (29:37):
So baseball baseball doesn't get interesting till September.

Speaker 1 (29:41):
Anyway, there's not.

Speaker 3 (29:41):
Going to be Have you watched the game with a
new timer.

Speaker 1 (29:45):
I don't even know what that is, with a new timer.

Speaker 3 (29:48):
That yeah, the pitches, right, you have like twenty seconds
between these pitch second.

Speaker 1 (29:51):
No, but I think that makes sense. That's something they
need to do, something to speed up the game.

Speaker 3 (29:55):
Yeah, no, I was going to say it did just that.
I think it's done good for the game.

Speaker 2 (29:58):
Well, we switched back over to modities that we saw
with oil. Oil you know, actually got a little bit
of a bid. This week was a little interesting off
the back half of the week because it sold off
significantly the previous week, so finally got a little bit
and then gold got a little bit as well. But
I think Bitcoin took took the lead back up to

(30:19):
one hundred and ten thousand right there, near all time
highs was down down to like one oh three, but
Bump bumped right back up.

Speaker 1 (30:28):
Yeah, it was only up two percent on the week
from Friday to Friday, So from Friday to Thursday, I guess.
So I can't even really give the weekly right because
the trades twenty four sevens so the actual weekly and
that'll be in twenty four hours.

Speaker 3 (30:39):
From now, right, big move for that ass of them.
I mean, I'm pretty sure moved for like you said,
it was around one hundred k like a week ago.

Speaker 1 (30:47):
It seems like, well, it happened very quickly. It's like
six or seven thousand dollars on Wednesday and Thursday total, right, Yeah, yeah,
I mean explosive move. Looks like it wants to bust
out and run.

Speaker 2 (30:56):
Another interesting development the crypto this circle that Stable, Issuer
and Ripple have both applied for a national bank charter.

Speaker 1 (31:05):
That's gonna be interesting because if they did that, if
they yeah, I don't know if they can see that
or not, would be the first national digital currency bank,
is what they're calling it, all right, And uh, I
don't think so. I I just I don't know, know.

Speaker 3 (31:19):
I do those Dow reports of smart enough for that,
I do those Dow reports or for some month task
every month, what's the top performer in the doll you're
to date? I think you guys have already seen their korem. No,
you just got IBM.

Speaker 1 (31:33):
Oh that of course, IBM Yeah, ibm PP performer in
the Dow.

Speaker 3 (31:37):
Thirty two percent year to date. It's toward the bottom.
You still have United Healthcare down there, down thirty six
percent on the year, but it had a good June.
It went up seven percent. Nike, we were talking about
that a little bit earlier. They were down about twenty
five percent for the year headed into June. They're now
down only three percent for the year.

Speaker 1 (31:54):
And those were guys that were getting to bid last week.
Ye As you start to look for things that hadn't
moved Nike, United Healthcare, wor shortly Apple.

Speaker 3 (32:04):
I remember a time that in videos at the very
bottom of that list, and now they're believe the tenth
best stuck fourteen and a half percent.

Speaker 1 (32:10):
For that, your ideas had a really strong.

Speaker 3 (32:12):
Co explosive move from one hundred.

Speaker 2 (32:14):
You know, if you look at the S and P sectors,
what would you guess is the top performing sector this year?

Speaker 3 (32:20):
Not the one that's the top performer?

Speaker 1 (32:23):
Yeah, I mean with any technology? Yeah right, Industrials, Yeah, industrials,
they've been a top performer each month, haven't they? And
I don't understand that how that's possible.

Speaker 2 (32:36):
Communications number two, that it's basically technology, and then financials
number three. Then technology. Financials had a really good June,
but also just really been staying in there. I've been
watching that Regional bank ETF for a while. The KR
they got a big pop off that woken up well,
it woke up off the the bake stress test, which

(32:58):
is funny because none of the region banks go through it. No, no,
you know, it's only the national banks. But for whatever reason,
that helped give that space a little pop.

Speaker 1 (33:06):
Learn how that benefits a regional bank. That's kind of interesting.

Speaker 3 (33:09):
Yeah, toward the bottom, you got consumer discretionary, just because
Tesla's such a top holdling, right, and you can't even
really pay attention to that one.

Speaker 2 (33:17):
Yeah, healthcare is down there. Energy has been down obviously
because of oil in. Real estate is down there as well.

Speaker 3 (33:23):
Yeah, consumer discretionary. This is why we always say, you know,
before you hop into an ETF, go take a look
at the holdings and see what they're actually invested in,
because sometimes these are very concentrated in one or two stocks,
just like an index, right, and so xl Y for example,
consumer discretionary sector, it's a spider top two holdings Amazon

(33:43):
at twenty three percent, Tesla at sixteen percent. The next
top holding is home deepoped at six percent. Wow, right,
So Amazon, I mean they've done what this year? They're
they're flat on the year, and Tesla's down on the
ear So that's why you have that sector down that's
spider down. You can't really look at that as a
whole consumer discretionary composite.

Speaker 1 (34:05):
Yeah, and you could certainly make the case that those
are two consumer discrastination stocks.

Speaker 3 (34:09):
Oh totally.

Speaker 1 (34:10):
But they're overweighted, super overweighted.

Speaker 2 (34:13):
That's why we talk about the equal weighted S and
P and the regular S and P so much is
because of that S and P five hundred being market
weighted based, it's going to give a larger percentage to
those top seven names that make up roughly thirty three
percent of the entire index in just seven names. But
it's a five hundred index, So if you take the
equal weighted five hundred, you're going to get an equal

(34:35):
share of all five hundred companies, not a larger share
into the just those top seven names.

Speaker 3 (34:40):
Right, And then looking to the Dow, I mean, I
would say that you guys could maybe arguement, but I'd
say that that was probably an all time high this
year had it not been for United Healthcare. And that's
absolutely and that's why. Because the Dow is a price
weighted index rather than a market cap weighted index.

Speaker 1 (34:55):
Well, only thirty stocks too, and they do a great
job of mimicking the overall market generally. But the problem
with the thirty stock indext you get one LA like
United Healthcare in there, they can really skew things to
the downside big time. Hey, I saw an interesting article
on Moderna excuse me, eighty percent off of its high

(35:16):
but up three percent on Monday after their experimental mRNA
of course, which was the covidchats right. The mRNA flu
vaccine produced a stronger immune response and currently available. Pardon me,
I would like to see a flu vaccine that actually worked,
which would be really nice because I get them every

(35:38):
year because I'm supposed to, and they don't always work. Anyway.
We'll be back with one more segment right after this break.

Speaker 3 (35:47):
Welcome back to the Money Matter Show. My name is
Sebastian bor Scene. I'm here with Todd Glick Junior and
David Sherwood. Been talking a lot about the financial sector
this year. XLF. One of the financial stocks that have
been really catching my eye lately is right and that's
up one hundred and fifty two percent this year. They've
had a huge, huge, huge ramp up. I think that
it has a lot to do with probably their cash

(36:09):
flow basis over in that last couple of months, just
because they've had all these I guess incentivizing features around
their broker system. For example, if you were to transfer
a roth Ira any deposit that you make, they'll match
you up to three They'll match you three percent. Right,
that's pretty incentivizing on seven thousand dollars you make three percents.
That's what two hundred and twenty dollars that they're just
giving you for free. Right, that service costs five dollars

(36:33):
a month or fifty dollars a year. So they have
found a way to monetize a reoccurring form of payments
for them. And I can imagine that not every single
consumer or every single investor that is, you know, opting
into this platform is going to actually max out the
wroth and beat robinhood on.

Speaker 1 (36:52):
Every single business out there wants a subscription model. Now
you can get a subscription model like that. Look at Amazon,
I mean talk about the behemoth right for subscription modeling
that's as good as it gets. Costco where you know,
whether people buy or buy anything or not, you're gonna
make money doesn't matter.

Speaker 2 (37:12):
And another thing that's really good for robin Hood. That
I think is one of the reasons is getting increased
as well. As they issued a open ai token that
was a big one, and this is I believe only
available in Europe, but it's essentially a token that is
gonna track the valuation of open AI's private stock. Open

(37:35):
Eye then came out with the tweets saying we have
no partnership with robin Hood. We did not issue our
equity through robin Hood. This is not you have to
have our approval to get an ownership of our company.

Speaker 3 (37:44):
A lot of pushback.

Speaker 2 (37:45):
How how robin Hood's doing this. I'm still trying to
figure out. It has something to do with a special
purpose vehicle and similar to how like polymarkets work and
things like that, they are somehow able to get a
little bit some of equity, but I have no idea
how they can get enough to really track everything on that.
So just be careful. Just because you're buying an open

(38:05):
a tokener. They also have a SpaceX token. You can
imagine how many people who want to be in that
industry would buy that. But also know what you're buying
a stock actually has an actual ownership right to the
equity of a company, you get voting rights, you get
dividends if it's producing it. There's an actual contract there.
This other vehicle.

Speaker 3 (38:26):
Token, there's virtually maybe no intrinsical.

Speaker 2 (38:29):
The transparencies only on how the methodology of the index
that tracks open a ey evaluation. How they do that
is completely up to that criteria. Can that be changed?
Is it set in stone? Is that whatever they have
in criteria makes sense. There's a lot of unknowns of that.
So it's a completely new space. If you hear it,
don't think it's legitimate yet. Make sure there's more regulation

(38:52):
and more understanding into it, because again even open ai
said this is not us.

Speaker 3 (38:57):
Yeah, and going back robin Hood, you know, looks like
they've been doing great as a company lately. One hundred
and fifty two percent your date. We're not recommending it
at these levels. And I think one of the biggest
things going forward for Robinhood after you just brought that up,
is lawsuits going litigation going forward, because not only are
they doing stuff like that tokenizing AI shares, opening eye shares,

(39:18):
they also have a polymarket thing on their platforms, so
you could bet on games.

Speaker 2 (39:25):
For example, I saw a really funny one that was
like you can bet on his if Jesus is going
to come back in twenty twenty eight.

Speaker 3 (39:31):
It's not so ridiculous the type of things that you
could bet on. And so again you give people that
access kind of like, yeah, are going to.

Speaker 2 (39:41):
Take in the financial space. That's done even better than
Robin Hood. And he's sitting right across the table from us.

Speaker 1 (39:49):
Dave.

Speaker 2 (39:50):
Dave is up two and twenty percent.

Speaker 1 (39:53):
Year to date. Where could it go? That's not my account,
I probably not your account.

Speaker 2 (39:58):
It is on the naz is. It's called Dave Incorporated,
and it's a it's under the major banks. It's just
kind of like a robhad it's a digital bank. You'll
see some commercials here and there on TV for it.
But that stock has just absolutely another four percent on Thursday,
new all time I don't know if it's a new
all time high, but definitely a new fifty two week high.

(40:19):
And uh, they're killing it on earnings and that kind
of stock eight and thirty three percent return over the
last year.

Speaker 1 (40:28):
So so the but you make your bring up a
good point. I mean, when you're talking about something like
an AI token, I mean, how do you value that
you don't. And it's like so many things. It's like
so many things that's forth. It's worth what somebody willing
to pay for it, correct, And so I just training dollar,
two dollars, three dollars, you know, is it a cheap
like a penny stock or I don't know either, but

(40:50):
I don't want to be speaking of lawsuits. Lulu Lemon
not only did Lulu benefit from the Vietnam terriff agreement
because that's a big supplier there, but they also sued
Costco selling for their dupes. Yeah, yeah, for selling Lulu
Lemon type clothing.

Speaker 3 (41:10):
Doups is short for duplicates.

Speaker 1 (41:12):
Yeah, And I don't know how. I mean, that's got
to be a tough proof, isn't it.

Speaker 3 (41:17):
Yeah. They had it up on CNBC the other day
and I was looking at that. I was like, that's interesting.
We'll see how that litigation is.

Speaker 1 (41:23):
Right, it didn't seem to impact Costco much, but it
really helped Lulu Lemon.

Speaker 3 (41:27):
No, and I think that they're suing the wrong company, honestly. Oh,
do you think she was doing fabletics if any? You know,
if they're doing it as a strategic move to try
to take some of the market share back Fabletics. They're
the ones taking their market share.

Speaker 1 (41:41):
Okay, yeah, I don't think there's that much special about
some of the Lulu Lemon stuff other than the logo, Right,
don't you buy the Lulu Lemon stuff for the logo?
For mainly?

Speaker 3 (41:53):
I'd say so.

Speaker 4 (41:54):
So.

Speaker 3 (41:55):
I have some work pants that you can't even tell
here LULUs, and they're very comfortable, but I don't know
that they're a hundred dollars comfortable. Yeah, one hundred and
fifty dollars comfortable.

Speaker 1 (42:03):
I get it. I get it. And there's been talk
about the competition, the level of competition that Lulu is
facing now they've lost some of their creative talent which
over the last couple of years, which has not helped.
You know. I like to talk about the Cava Mexican
Mediterranean grill. It is the Mediterranean Chipotle, right, fifty two

(42:23):
percent off of it's high the stock. It just when
it came public. It just want higher, higher, higher, higher,
and then puff next thing. You know. It's down fifty
two percent, gain four percent of the open on Wednesday
after Key Bank raised the shares to a buy. Now
I like this, down fifty two percent let's buy it.
I like that as opposed to up fifty percent. Now

(42:44):
let's buy it. They want to. They said that the
company this is kind of a duh. They have no
competition and could become the next Mediterranean Chipotle. Well, yeah,
that's pretty much what they are. If you'll walk in one,
it's exactly what it is as the Mediterranean Chipotle.

Speaker 3 (43:02):
I'd love to try one.

Speaker 1 (43:04):
Oh yeah, I don't know. I guess probably Phoenix. I
saw one in Orange County, California. That's where I went in.
I didn't order. I talked to a couple of people
in line because I was curious about it. Talked to
a couple of people in line about what it was,
why they were there, what they thought, because that's kind
of what we do right as money manitors. We tried

(43:24):
to find out why people are buying stuff and why
it's working.

Speaker 3 (43:28):
I was in GENC the other day and I was
actually asking the clerk about Elani Knew, which is a yes.
It's an energy drink that Celsius spot right. And so
they were talking about how they just fly off the shelves.
They stocked them, They're gone the.

Speaker 1 (43:42):
Next day, seriously, and they keeping stock.

Speaker 3 (43:44):
They can't keep them stuck, and it's so ridiculous. I
just think it's funny because Elani Knew got popular maybe
about a year ago. Well now it's just getting a
second wave, and the Celsius stock has been performing quite well.

Speaker 1 (43:56):
Yeah, and you said the Elani Knew is primarily females, enterest.

Speaker 3 (43:59):
I'd say it's more targeted towards women.

Speaker 1 (44:03):
Yeah, it's.

Speaker 3 (44:05):
More colors, more colorful cans, and they have I think
more I think they don't sell just energy drinks. That's
they sell protein chase and pre workouts and whatever it
is that you want to call it just gym stuff.
It's all more like it's women friendly.

Speaker 1 (44:23):
The Afford has been a lange has languished for a
long time. Rose three percent on Tuesday to the highest
level this year, after the company reported sales rose fourteen
percent during the second quarter and ten times the estimated
ten times what the industry increased, So fourteen percent increased.
At Ford, one point four percent increased. Here's the interesting part.

(44:45):
The popular F series truck saw their second best quarter
since twenty nineteen, climbing eleven and a half percent. Sales
of electrified vehicles up six point six percent, but pure
saw a thirty one percent drop, all electric thirty one
percent drop. Well, hybrids were up thirty percent.

Speaker 3 (45:06):
Makes sense.

Speaker 1 (45:07):
That's kind of interesting. The country does seem to be
adopting more electric technology, but.

Speaker 3 (45:16):
Until they read all the way, until the infrastructures there
and the range gets better.

Speaker 2 (45:20):
And no Way reported ninety eight percent of their purchases
last month were all electric.

Speaker 1 (45:24):
We did Norway. Yeah, Norway's really there, and we looked
into that. Why why I know why? Yeah, they have
a large government subs huge government subsidies. I mean, if
you don't buy electric and no, you're an idiot.

Speaker 2 (45:35):
I mean it's basically just getting a way cheaper core.

Speaker 3 (45:37):
So why would you ever really?

Speaker 1 (45:38):
Yeah, yeah, so they're they're all in on non electric
in Norway. I've no I noticed that a report that
they were the number one electric vehicle company in the
world or country in the world about six months ago.
As I started to look into why why that is,
and it's it's because you can buy them. They're three
percent Well Hasbro, Hasbro, the you know, the toy company.

(45:58):
We've talked about that before. Kids don't play with toys
as much as they used to. They've got the iPads
and the different things in their phones and stuff. It's
up thirty percent this year Hasbro, which prompted Goldman Sachs
to raise the doctor a buy s if astan you
want to buy one stuff thirty percent? They said, Magic

(46:18):
the Gathering. Do you guys know what the heck that is?
No Magic the Gathering. I had never heard of it.
It's a collectible card game that was first introduced in
nineteen ninety three. Kind of maybe it's like I'm saying,
maybe like pokemons something like that, So I was thinking
of the game was first induced in nineteen ninety three,
but they think Goldman Sacks thinks that that game could

(46:41):
be all that for Hasbro going forward. So it'd be
something to watch. A Coinbase do you talk about a
week with a crypto move and higher? Coinbase had a
heck of a week new product launches. Of course, they
were included in the S and P five hundred and
I think May so they were. They in June were

(47:02):
the number one performing stock in the S and P
five twenty percent and you.

Speaker 2 (47:07):
Had itb had best day of the year since May
on Tuesday. Maybe that's stock in sectors. Ganda here come back.

Speaker 1 (47:15):
So bottom line, Enjoy the weekend, Be cautious. We've got
an hour coming up of educational material for you. We
appreciate your patience. We'll talk to you next week for
a full two hour show. We want to be happy,
we want to be healthy, Happy Birthday America, and a
Greenberg Financial Well, we want to be profitable. See you
next week.

Speaker 5 (47:35):
Hello, and welcome to Money Matters. I'm Sarah Peterson here
with Dean Greenberg and Todd Glick of Greenberg Financial Group. Hello, gentlemen,
Hi you again seven. Hello. Oh my gosh, I'm always
I don't know where we're going today, but I know.

Speaker 4 (47:48):
It's where fun.

Speaker 5 (47:50):
It's probably going to go somewhere political.

Speaker 4 (47:52):
Knowing you oh not political. Well, everything is political if you.

Speaker 5 (47:57):
Think of it, it really is. But let's just talk
about the fact that, you know, there's a lot of
uncertainty and people are wondering. We don't have a crystal ball.
We don't know if our taxes are going to go
up and down. We don't know. But with all the
volatility in the markets and everywhere, we kind of want
to try to figure out where we're headed in the
next couple of years.

Speaker 6 (48:15):
You know, when we see them a lot of clients.
Their biggest thing is about taxes. They really do. I
don't care who you are. Nobody wants to pay taxes.
They say they do until they have to pay the taxes.
You know, and you keep hearing it, and it is
a political football. Taxes about paying their fast share, paying
not their fast share and stuff.

Speaker 4 (48:35):
You know.

Speaker 6 (48:36):
I don't know what the answer is to that, But
the answer is is that if we have to raise taxes,
okay in my opinion, but yet we have to give
away billions, hundreds of billions of maybe trillions of dollars
away to around the world, they won't paying too much

(48:56):
in taxes. Our middle class and has to get a
tax break. They're the ones that get hurt the most.
We keep hearing that, but nobody actually dwells into it.
You and I both know what's the main thing they do.
Billionaires don't pay taxes.

Speaker 4 (49:13):
Right.

Speaker 5 (49:14):
How many billionaires are right?

Speaker 6 (49:16):
At my point, I asked this question to a lot
of people. Most people think there's ten tho twenty thousand
billionaires in the United States. There's eight hundred and thirty
as of twenty twenty five, eight one hundred and thirty
billionaires in the United States. That's nothing. And we keep

(49:37):
saying that they're going to make up the difference.

Speaker 7 (49:39):
They're not.

Speaker 6 (49:41):
Who's going to make up the difference is the middle
class needs the tax breaks. Okay, that's who guts to
get the tax breaks. The billionaires don't pay much. We
hear it all the time. We hear Warren Buffett, I
don't pay as much as my secretary. Well, there's a
reason Congress has no guts to change the tax law
on the witch because the witch all in real estate.

(50:04):
And guess what the Congress is, they're in real estate.
So then it's all a shell game. At the end
of the day, we need to lower taxes for the
middle class. You don't need to low them for the
lower class. Low income people, they don't pay taxes. So
you've got to find that middle class to help them out.
And middle class is gone up. It used to be

(50:24):
you know, fifty sixty seventy grand that middle class. Today,
with the way prices are, it's probably double that. One
hundred and twenty five thousand. Winning your state thought, yeah, I.

Speaker 2 (50:32):
Would say anything from sixty to one hundred and fifty.

Speaker 4 (50:34):
Yeah, considered middle that's middle class.

Speaker 5 (50:36):
So what do we do when we're when we're looking
at this, there are a lot of unknowns, But in
planning for our financial future, how can we utilize those
tools to help mitigate some of the texts.

Speaker 2 (50:49):
Well, we know where taxes are going to be for
the next three and a half years, probably right, So
this gives us a little bit of a runway to
possibly do some strategies, like some rock conversions. If the
new administration comes in it says we still have a
deficit problem, how are we going to solve it. It's
likely going to be that they're going to try to
hike taxes, especially right It depends on the administration. But
if that administration does come to increase taxes, then you're

(51:11):
going to look at hindsight being twenty twenty, that we
should have been doing a whole bunch of rock conversions.
It's a difficult game to play because you don't really
know for sure if tax rates are going to be
higher in the future. It seems pretty likely with the
historic high deficit that we have, and it's potential that
something is going to have to happen if we are
able to cut the fat out of the spending, which
a lot of parties are trying to make it harder

(51:31):
and harder for people to do that. So if we
can't cut the fat of the spending, someone's going to
have to pay that bill, which likely means higher taxes.
So maybe it is time to do some rock conversions.
That's a decision you have to make on your own.
Maybe you console a tax professional, but ultimately it is
kind of a speculation whether or not you think tax
rates are going to be higher in the future.

Speaker 4 (51:50):
But they've got to be spawned too.

Speaker 6 (51:52):
If we do lower taxes for themental class and make
it a little bit more money, do something you didn't
do with that money before, invest it for your retirement.

Speaker 4 (52:01):
Because as we talk, this is a whole plan. You know,
we talk about planning for people. I'm looking at what
the plan is.

Speaker 6 (52:07):
For the United States of America, and that plan is
to get people eventually on Social Security, so you're putting
your own money away for your own retirement over time.
We've already started that when we started doing the four
way K plans and move them away from pension plans.
This is part of the whole period, but nobody wants
to lay it out in simple terms for people because
politicians are afraid to say it. The idea is, take

(52:29):
that when you get a raise, take party your raise
and put it away and then spend the other part.
If you're not making enough money, okay, then you've got
to come to see us because we got to put
you on a budget because you're spending too much money.
I hate to say that to people who think they're
not they don't have enough to spend. But you are
spending too much money if you cannot go ahead and

(52:52):
live andy. I know so many teachers who make forty
five to sixty thousand dollars the whole career, the millionaires,
because they lived within their means and put money away.

Speaker 4 (53:05):
That's what they do.

Speaker 5 (53:06):
What my daughter's friends are saying. You know, they're just
saying that the world is just getting so expensive that
everything intimidates them.

Speaker 2 (53:13):
You know, what was being It's come back to that
be worth the budget And we talked about it in
other shows. But imagine if our government had a budget,
right and that's what they're trying to do right now.

Speaker 5 (53:22):
Don't make it you're crazy, don't.

Speaker 4 (53:24):
Make it scared.

Speaker 6 (53:24):
She doesn't know how to spell budget. Okay, we understand
that that's the government.

Speaker 2 (53:29):
I mean literally, we're just trying to I mean, it's
the whole doze. You're trying to make a budget for
the government, right so we don't have to pay higher
taxes in the future. It will happen if if we
can't cut the bill. The same thing will happen to
your financial plan. If you don't do a budget to
see what you're spending, and you don't spend for retirement
or save for retirement, that can is going to come
down the road one time and you won't be able
to retire because you didn't actually do the budget when

(53:50):
you're supposed to.

Speaker 6 (53:52):
There's nobody I know that's that that came into this world,
their work world, without being given anything or inheritances, okay,
that had to build up their money, their their finances,
build up their career, build up their business, build up
what they are that would ever say it wasn't a
tough time to Eventually they got to a point they
were making a lot of money and able to put

(54:13):
some money away, which by the way, is probably in
their fifties or sixties if you started from the beginning.
Because you always filter every money back into the business,
you always have to make that payroll.

Speaker 4 (54:22):
You always have to do stuff.

Speaker 6 (54:24):
And you know what, any business person that says they
never had a failure is lying because everybody has problems.
And guess where that money comes from. Oops, that's my savings.
I got to put it into the business to keep
it going. Now it's not like, oh, you got laid
off and you've been saving and now you go work
for somebody else. So the whole thing comes together. There's
a plan that you have to look at. What's the

(54:46):
big plan is? What is our administration? What are our politicians?
What is the tax plan for America? Then what's the
tax plan for you? And how's that going to help
you save? You have to look at the big picture,
in the small picture, in the individual picture.

Speaker 2 (55:00):
You look at the socialist countries that have super high
tax rates. Can you name a lot of billionaires out
of those countries or great companies coming out of those countries?
You can't because it de incentivizes risks taking. In order
for a company or an entrepreneur to actually create a
new business, a new product, something that society will benefit from,
they have to be able to actually have some incentive,

(55:20):
which is reward. Right, if you're going to take all
that reward away from taxes, those billionaires and companies will
move elsewhere and will be worse off because of it
and will get less taxes, So you have to keep
increasing the tax rate. It's a fool's errand.

Speaker 5 (55:33):
Well I can't have said it any better than that.
We're going to take a quick commercial break when we
come back and talk more about your money matters, so
please stay with us. Hello, and welcome back to money Matters.
I'm Sarah Peterson here with Dean Greenberg and Todd Glick.
We always have fun talking about finance, which is why
I love hanging out with you guys, because most people don't.

(55:54):
You make it so easy to improve it, because you
make it so easy to understand. You really do. You
break it down something that's really intimidating for a lot
of people. To bury your financial cards to someone that
is intimidating, and I'm sure that that is why people
don't just, you know, pick up the phone. But the
reality is, if you don't do it, how are you
going to know if.

Speaker 6 (56:12):
You're on that I learned a long time ago when
I started my financial talk show on the radio in
nineteen ninety I started doing it and I did a
little bit, and then I sat down with someone. She's
not my wife, but she told me what you need
to do is make it really simple. You might think
it's the most simple thing, but act like you're talking

(56:34):
to elementary school kids to make them understand. And if
you do and they understand you, they will trust you.
So we've always I've always used that in the back
of my mind, you're doing this to educate. If you're
going to educate, make them learn. How many times do
you sit in a classroom your whole life and just
hearing blah blah blah blah because it's over your hand,

(56:54):
you're not understanding it. But when you understand it, and
it's usually when we got older, it becomes something.

Speaker 4 (57:01):
Oh wow, that's what he was talking about. That's what
he meant.

Speaker 6 (57:04):
You know what I mean. I do the same thing coaching.
I got to make it so simple. When I'm trying
to tell people what to do, then they just don't
listen if it's too complicated. So a long time ago
on Larine, make it really simple so they understand, and
when they understand, then they trust you to come and
ask your questions.

Speaker 5 (57:22):
Well, to me, it's exciting because this is like kind
of an area that is gray for a lot of people.
So it's exciting to make sense of it and realize
that it's not necessarily how much specifically you have or
you have saved, it's how you utilize it and what
you do going forward.

Speaker 1 (57:39):
Yeah.

Speaker 2 (57:39):
One of the things we do is in the second meaning,
the proposal, meaning we try to make it as simple
as possible for you. We show you where your income's
going to come from, what our recommendations are, what type
of model we're going to put you in, and what
that model consists of stocks versus bonds, how we would
rebalance it when we would do it, as well as
we'll show you a portfolio projection of all the moving
parts in your findinancial plan, laid out to you as

(58:01):
simply as possible. Because we understand at the end of
the day whether you do business with this or not.
We want to give you a proposal that you can
digest yourself, and you might still have questions at the
end of the day, we'll be here to answer them
for you, but we want it to be so simple
that you could take it home and actually implement it
yourself if you so desire to do, so I get it.

Speaker 6 (58:19):
There's a lot of products out there, like lyrps that
are sophisticated products that work for some people. But ninety
nine percent of the people you try to talk to
them about they have no clue what it's for what
it is. And then the other people that do come
in and they do ask us about lorps and different
products like that. When we explain it, they get it,

(58:41):
understand it. Then we explain them to the risk and
most people never explain the entire risk of where that
tax free loan comes to them that if the premium
isn't there, to the dividends aren't there to pay the premium,
then they got to start paying premiums again the loan
becomes taxable. So there's a lot of things that people

(59:04):
don't understand that we try to make sure they do
and get it. There's a lot of sophisticated, complicated products
and people just don't get it, and that they don't
get it, they probably should stay away from it unless
they're sophisticated enough to learn it.

Speaker 2 (59:20):
We talk about this on the radio show all the time.
Annuities will offer thirty percent bonuses, thirty five percent bonus
on your money in the first year. That's not actual money.
They're giving you a bonus on it. They're giving you
a bonus on your income value, which is what the
value that they will calculate how much income they'll pay
you out for the rest of your life. Perfectly fine
thing if that's what you ultimately wanted to use the
product for income. But if you think you're going to
get a thirty five percent growth on your money in

(59:41):
a year, that's not the case. It's a different calculation
for income, not accumulation value. So even simple things like
that that people feel like, oh, this is an easy thing,
it's a no brainer, you have to look into the
fine print and actually understand what that product is and
understand surrender schedules. The reason they can give you that
type of bonus is they're locking your money up from
sometimes twelve fourteen years.

Speaker 6 (01:00:01):
And there are all places for annuities, there's no doubt
about it, and the places they I.

Speaker 4 (01:00:05):
Will use them.

Speaker 6 (01:00:06):
People want guaranteed income, they need to fill the gap
between their pension and in their retirement. There's some great
places to use it, but a lot of people just
sell them minnuities, and to us, that's a problem because
there's other alternatives right now. But mygas, I think mygas
are great. You know, Todd does a ton of those.

(01:00:27):
They're considered an annuity product.

Speaker 2 (01:00:29):
And those those are the multi year guaranteed annuities for
those who don't know what mygas are, and they're pretty
much just like a CD. With an insurance company, you
can pick three, five, seven years and they're going to
give you a guaranteed rate for that period of time.
Your mind's going to be locked up, and sometimes you
can take out the interest penalty free during the term,
but you have to think about this, money's gonna be
locked up. But I'm gonna get a guaranteed rate that's
going to be a little higher than what CD rates

(01:00:50):
are going to be at the time.

Speaker 5 (01:00:51):
I would even think the insurance industry is pretty valatile
right now with the fires on, all the storms and
things like insurance premiums aren't going up.

Speaker 6 (01:01:00):
But don't forget the insurance also has an insurance pool.
You know, they have reserves, just like just like brokenge
firms got to have reserves, banks have to have reserves.
Everybody has to have reserves for a rady day. Now,
if it's a day that blows up, it explodes and
everything falls apart, like two thousand and eight. Well, there's
not enough reserves there, and that's when the government's got

(01:01:22):
to come in and do the things that they got
to do.

Speaker 1 (01:01:24):
Right.

Speaker 2 (01:01:25):
But don't forget AIG blew up in two thousand and
eight and it turned into Voia Financial. So a lot
of these annuity companies, if they do, are insurance companies.
That's just say, when they blow up, they'll get bought
up by another insurance company, same way that we saw
with I forgot who the bank that failed a couple
of years ago, and they got bought up by a
bigger bank. That's kind of how usually it would happen.
But to keep people's peace of mind, also, there's something

(01:01:46):
called a state Guarantee Fund that each state has up
to two hundred and fifty thousand that gives you protection
if that insurance company in your state goes debut. And
also people don't know the insurance companies have ratings, like
you can look at how strong and insured company is
from going debunk. There's a plus rated a rat and
that's why we try to shop for only A rated
or higher products from annuity companies. That are a rated higher.

(01:02:08):
We don't want to go into the B area because
even though you might get a little better of a
product on paper, who knows that product is actually going
to make it through the term if that company is
not around.

Speaker 4 (01:02:18):
So wrapping this whole thing up.

Speaker 6 (01:02:20):
When they come to us for a financial plan, right,
and we sit and we talk about ideas, we don't
know what product we want to put them in.

Speaker 4 (01:02:26):
We don't look at what it is and go, oh,
we got to do this, So we got.

Speaker 5 (01:02:29):
To do that. Just going to ask that question, I
knew you were That's why I said it. I really was. Well, no,
it's just it's great to know that you guys aren't
selling me on something.

Speaker 1 (01:02:37):
Right.

Speaker 6 (01:02:37):
Well, some people have this product and whatever this is
that they're doing here is to sell that product.

Speaker 5 (01:02:42):
Right.

Speaker 6 (01:02:42):
We do all this here, whatever is in this circle
that best fits their plan, that's what we do.

Speaker 5 (01:02:49):
And it's just great because it does seem like there's
more and more products every year, and more and more
opportunities for you, better.

Speaker 6 (01:02:54):
And better ways to mitigate risk, for clients, to put
them in conservative ways and positions, keep them liquid. All
those things out of there out there right now, and
of course it's obviously risk reward. The higher the risk,
well the reward, but the bigger risk you want less.
You don't make as much, but you don't lose as much.

Speaker 2 (01:03:13):
And that's our job as advisors. We learn every single
day to add another tool to our tool belt so
that when we meet a new client and we have
a new idea or new project we have to fix,
we have that tool that we'll need to use.

Speaker 5 (01:03:24):
Well, I hope you've been listening, and we have more
after this quick commercial break, so please stay with us
five two zero five four four four nine zero nine.
You get a complementary financial plan that other advisors charge
thousands of dollars or more for, and you get it
for just hang out with us for thirty minutes and
listening to us try to educate you on your money matters.
So we'll see you in a few Hello, and welcome

(01:03:46):
back to money Matters. I'm Sarah Peterson here with Dean
Greenberg and Todd Click and a lot of the things
I really adore about you both is your incredible relationships
that you have with your clients. You get to know
people pretty well when you're dealing with their finances, it's
such a personal thing, and I would love for you
to share some stories with us of some clients that

(01:04:07):
have recently inspired you, or maybe mistakes that have been made.
I just think it's neat for people to understand, like
everybody's situation is different.

Speaker 2 (01:04:15):
Yeah, I think we'll start with the bad first, and
we'll go to the we'll finish off a high night.

Speaker 5 (01:04:19):
Okay, we'll finish.

Speaker 2 (01:04:20):
So I think one of the mistakes I've heard recently
is the fact that this client comes in he says,
for the last two years, I'm very conservative. I stayed,
I sold all the cash, and I've been missing out
on this entire market run. But now it's come back
ten percent, So this is the time to get in.
Just because the market came back ten percent, you didn't
even come close to all the gains that you missed
out on in over those two years. So the people

(01:04:42):
that I've heard a lot of times come in and
say the market's too high, it's too overvalued, it shouldn't
be this high. And then it keeps going higher, and
it keeps going higher, and then eventually it drops a
little bit, but that's not even enough for them to say, oh,
this is the time to buy now. They never actually
get in the market. It's always too overvalued, it's always
too high. But the fact that the market is always
a new all time high is kind of telling them
that they're wrong over a long period of time. So

(01:05:04):
that's to say that that'd be the biggest mistake. I
would say, keep invested, understand that the markets have always
made a new all time high. Just got to have time.

Speaker 5 (01:05:13):
Sounds like you're more in the long game too, So
people need to think about that the bigger picture of this.

Speaker 2 (01:05:19):
Do you have any bad examples from clients bad takes.

Speaker 4 (01:05:22):
Over the years.

Speaker 2 (01:05:25):
That client was a very interesting one.

Speaker 6 (01:05:27):
Yeah, that's a good one, all right. So this was
in two thousand and eight. We had the client through
the nineties and stuff, and the bottom line is her
husband had worked for Bank America, and so they built
it up, built it up, built it out. There was
a million five and day and they were getting dividends.
I can't tell you how. It was more than seventy

(01:05:47):
percent of the portfolio. So we separated it out so
that way we would never sell it. She didn't want
to sell it. She wanted to keep it because she
wanted individends. I tried for so long for her to
sell something so she can diversify more. Two thousand and eight,
comm not only did she lose in her own account,
but that Bank America went all the way down to

(01:06:09):
like two dollars. She lost all her money. The worst
part is all the dividends. She did not have any
of that money to live on. She had none of
that money to do it. I know it was stressful
for it was a long time ago. Unfortunately, I don't
know if she's still here, but she lost everything she

(01:06:30):
had and I hope that.

Speaker 4 (01:06:31):
She was able to recover.

Speaker 5 (01:06:33):
As an advisor, I mean, what do you learn from
these things? Where do you go from there? I mean,
so much of this stuff is unavoidable.

Speaker 2 (01:06:40):
Yeah, Unfortunately, you are the CFO at the end of
the day, you're the chief financial officer for the plan.
But ultimately they're the CEO. They make the end decision.
You can't make them not spend at the register. You're
not going to be with them on their everyday lives,
so it is their decision at the end of the day.
We are the ones that try to optimize and advise
you and be your therapist and trying to tell you

(01:07:00):
why this is not a good idea. But if we
can't break through to you, you know, you can't make
a horse drink water. You can just bring it to them.

Speaker 6 (01:07:07):
But I get it because a husband worked for them
for thirty five forty years. They built it up, he
passed away. This was her attachment to a husband. So
I get that part of it. Take the emotions out
of investing. Okay, they don't care about you. You don't
care about them. Care about yourself, all right. Every time
you get greedy, every time I see in it, something happens.

(01:07:29):
Something happens all the time, and people all think you
get rich quick.

Speaker 4 (01:07:32):
You don't. It's all the time. I tell you a
good story.

Speaker 2 (01:07:35):
My favorite good story is a client just recently, because
we went through the whole plan, they had a nine
to nine percent, they realized, oh, I can actually spend
a little bit more. Okay, So we went through it
and after they we showed them that they could spend more,
they did one hundred thousand dollars on a home improve
and they didn't think they could do. They were able
to spend more on vacations. But then they're actually able
to spend more on vacations with family not just on themselves,
but having experiences with themselves and their family. And they said,

(01:07:59):
this has actually brought me so much more joy to
my life. The financial plan has helped me uncover how
much assets I actually have and actually makes me feel
comfortable with spending at this rate. I didn't understand where
all my money was. It was all different places, but
now that's all in one picture. I really feel comfortable
to spend at this rate because I know there's a
plan behind it.

Speaker 5 (01:08:17):
It's the best kind of story. That's the best.

Speaker 6 (01:08:21):
So we have one We have another client and she
was a retirement home and she was supposed to come
in and see it's just one day and she needed
to go ahead and sign some paperwork because she was
giving some money to her son who is buying a
house that would have it like an extra an extra
attachment to the house as them, so she can come

(01:08:44):
there and spend a lot of time when she wanted
to when they were in Texas well.

Speaker 4 (01:08:48):
She fell.

Speaker 6 (01:08:50):
At the retirement home the day before, broke a hip
and couldn't walk, but she needed to get it down
because it was closing. One of our advisors out to
see her get all.

Speaker 4 (01:09:03):
The paperwork done for her.

Speaker 6 (01:09:05):
On the way, he picked up a bunch of flowers,
a whole bouquet of flowers on his own, and brought
it to and gave it to her. It made her
a day, the fact that we went out and did
it for her so she didn't have to do it,
so she was able to not disappoint her son and
then brought a flowers. She was like the Queen of
the bull because everybody who was there, who's that young

(01:09:27):
guy giving me flyers? He's expected, you know, And it
was very cool and I didn't know we did that.
He came back and told me. And that's the type
of people I have working for me. That's people that
care about others, especially elder clients.

Speaker 5 (01:09:39):
At the end of the day, isn't that Everybody just
kind of wants to get their handheld a little bit, right,
And sometimes it's intimidating to admit that. Right, you know,
I've made as much money and I do this and that,
but it is a little bit of a vulnerability and
once you get past that point.

Speaker 2 (01:09:56):
And that's why we have a team approach. Not only
are we the money managers to findinancial planners and the
financial counselors and therapists. But we have teammates alongside of
us as state planners, the tax strategists CPAs, as well
as medicare specialists, people that will shop for our clients'
home and auto insurance, homeowners insurance, you know, all kinds
of different insurances.

Speaker 4 (01:10:16):
You can't.

Speaker 2 (01:10:16):
We have people for that. We have people for every
little part of someone's financial life, and that's what our
clients want at the end of the day. They want
to know that when they come to us, everything is
taken care of and like you said, someone's looking out
for their best interest.

Speaker 6 (01:10:26):
I think whatever reason, younger people are afraid to talk
to older people on a very close basis, get to
know them intimately. What's about, what do they do with
their children and stuff? And I learned this when I
own my restaurant, Shlom owned Bridos.

Speaker 4 (01:10:42):
I couldn't get.

Speaker 6 (01:10:43):
My service to go talk to the older people because
they were crotchety. And I said, the crotchety because they're hungry.
They came here to eat the greatest corned beef up.
It's draw me sandwich, they know, and they're going to
take some home. Go talk to them, give them pickles,
give them something, tell them the foods on the way,
kid with them.

Speaker 4 (01:11:03):
Customer serve time.

Speaker 5 (01:11:04):
If you are talking about customer service, and that's what.

Speaker 6 (01:11:06):
It all all, it is, well, Oka, what business you
are if you're in customer service, be an extrovert, have empathy,
talk to them, get to know them. They'll trust you.
You build them an empuy it from that.

Speaker 5 (01:11:18):
Okay, So what they need to do, all they need
to do is pick up that phone and make a
phone call. They're going to get you. They'll come in.
You said you have coffee. You don't even drink it.
I don't understand that. But have a cup of coffee
and sit down and talk and find out if they're
on the right path.

Speaker 4 (01:11:33):
It's not easy here for you.

Speaker 5 (01:11:36):
Well, thank you so much for spending time with us.
I hope you learned as much as I always do
sitting here with these fine gentlemen. And they are offering
this to you, the viewers, a complimentary financial plan which
can otherwise be thousands of dollars or more. All you
need to do is pick up the phone five two
zero five four four four nine zero nine and we'll
see you next time with your money matters. Hello, and

(01:12:32):
welcome to Money Matters. I'm Sarah Peterson here with Dean
Greenberg and Dylan Greenberg of Greenberg Financial Group. You gentlemen,
look amazing today as always.

Speaker 4 (01:12:41):
And you do too well.

Speaker 5 (01:12:42):
Thank you, Thank you, sy me no. I always love
being with you guys. You managed to make financial planning
sound fun to a lot of people. That's not the case,
but you honestly do think it is. So that's why
we love you.

Speaker 1 (01:12:57):
Well.

Speaker 7 (01:12:57):
It's our favorite thing to do is talk.

Speaker 5 (01:12:58):
About the financial plan one hundred percent.

Speaker 7 (01:13:01):
Become so intricate.

Speaker 8 (01:13:02):
Over the years, it used to be a different business,
and nowadays it's just become It's such an easy thing
to do now with the technology that we have and
we've been able to.

Speaker 5 (01:13:09):
Does it amaze you how many people don't have it?
I mean it's so easy, and how many people still
don't have it?

Speaker 4 (01:13:15):
Yeah?

Speaker 8 (01:13:15):
Well, a lot of it I think becomes because of
the fear of it. The main thing that we always
see if they don't do is because they've been putting
it off because they're scared. Are we going to be
good in retirement? Are we going to be able to
retire when we want? We're gonna able?

Speaker 7 (01:13:26):
Little to have enough money, or we're going to outlive.

Speaker 5 (01:13:28):
Our money, or are you going to tell them to
stop spending?

Speaker 7 (01:13:30):
Maybe sometimes you have to.

Speaker 8 (01:13:32):
We've had clients where we have to tell them to
spend less money or they're going to drain their accounts
and that's not what we want.

Speaker 5 (01:13:38):
But then you have some people who you say they
can spend more.

Speaker 8 (01:13:40):
Oh yeah, we definitely have people that that's more often
than not. People can spend more than they think in retirement.
But it's that transition of the accumulation phase where they're
saving their money through their working years and their four
one ks and their iras, and now all of a sudden,
their paycheck is going to be coming from themselves, not
from the company that they work for for thirty years.
So it's a hard mindset to change.

Speaker 5 (01:14:02):
I have so many friends who are retiring young. I
think the stress is just getting to a lot of people.
I mean younger and younger. Again. It's like a generational thing.
We were working really late and now people are saying, hey,
I'm fifty five, like I can do this.

Speaker 4 (01:14:15):
You know fifty five you said, yeah, fifty five.

Speaker 6 (01:14:18):
I have friends yeah, and they're either done well or
they're going to live unless going forward.

Speaker 7 (01:14:24):
Or they're going to get bored in two years and
go back to work.

Speaker 5 (01:14:26):
I know, I think it sounds great to a lot
of people. Oh yeah, it could be a you know,
stay home and play golf and you know.

Speaker 7 (01:14:32):
Cook and yeah.

Speaker 8 (01:14:32):
And I mean it depends too what those people do.
Sometimes we do have clients who retire in their fifties
and never work again. But it's because they have a
nice pension from a company that they work for for
their entire career.

Speaker 5 (01:14:41):
But there's a huge emotional component to letting go of
something that you've kind of worked your whole life for,
or feeling sort of irrelevant, you know, not having that
clock every day waking you up to get up for
a reason.

Speaker 4 (01:14:52):
There's a big but you hit that right on the head.

Speaker 6 (01:14:54):
And I try to explain that to people when you
get old, if you lose your relevance, your purpose of
getting up and doing stuff, you get old.

Speaker 4 (01:15:06):
You know, if you don't have a hobby, you don't
have something to do.

Speaker 6 (01:15:09):
And I keep and I keep telling my wife and
my family that as long as I have my senses, I'm.

Speaker 4 (01:15:14):
I want to be relevant now.

Speaker 6 (01:15:15):
I don't want to worry about operations on an everyday basis.
That's why I have my team, you know, and started
teaching them how to do things. But relevance is very important,
giving back is very important, mentoring is very important. But
you have to know who you are. Why is this
fun for us? It's because we're extroverts. We're not introverts.
Can you imagine being an introvert and having to deal
with people every day?

Speaker 4 (01:15:36):
We love it.

Speaker 6 (01:15:36):
We love meeting people, talking to them, helping them, you know.
And and if you're if you're if you're a narcissist,
that will only come across well either because you've got
to be a giver.

Speaker 4 (01:15:47):
You've got to be able to put.

Speaker 6 (01:15:48):
Yourself in the client's position and understand and hear them
and then solve their problem.

Speaker 8 (01:15:53):
We'll problem solver us. And I mean that's the financial plan.
We learn about the client. They come in brand new,
we never met them before. We talk to them for
about an hour, two hours, however long it takes, and
we learn all about their life, about their journey, about
their goals and retirement, their kids, their grandkids, anything like that.
And obviously it revolves around the financial aspects of it.
But it is a lot of your life. So we

(01:16:14):
learn a lot about people really quickly, and it's very
rewarding because a lot of people have a lot of
cool stories.

Speaker 5 (01:16:20):
I love that, And you're learning so much about the
things that they did to get them to that point,
which I'm sure relates to your other clients. I mean,
it helps you kind of understand how people build wealth,
how they truly build it. It's usually not because they're
making a lot and spending a lot, they're saving it.

Speaker 8 (01:16:37):
Yeah, a lot of it comes from the most successful
clients we've seen through their working years are disciplined investors.
They started their four O one K early on in
their career, which starting early if you have grandkids out there,
if you have kids out there, or if you were young,
like under forty, start investing if you haven't already, because
the power of compounding is huge and time is your

(01:16:58):
best friend. You can't get time back if you start
investing late. Obviously, you should start investing right away if
you haven't started yet, but if you're young, take advantage
of it, take advantage of the time. Start with little
amounts and then that'll gradually get bigger and bigger, and
the next thing, you know, the last couple compounding doubles
that happened every six, seven, eight years will be huge
when you retire.

Speaker 5 (01:17:19):
I love talking to my kids. You know, when that
whole Starbucks theory came out, I was like, if you
didn't get if you've got a Starbucks every day and
then you didn't get it, what that money could do.
And you know, ten years and twenty years they did
not believe it. One like that is not true because
to them it's like, oh, what's what's a five dollar
coffee you drink? Chris, what is it? Seven dollars?

Speaker 1 (01:17:39):
Yeah?

Speaker 5 (01:17:39):
Dovery what I would say, I'm dating myself, but but
it is it's amazing if you have that leeway, that
time span, what that could do for you, what your
money can do.

Speaker 4 (01:17:48):
Well.

Speaker 8 (01:17:48):
There's always a good example too. There's a story where
it's there you got two people. They're both twenty years old.
The one person puts in first, and a puts in,
say five thousand dollars a year for the next ten years.
They stop at age thirty, never put in money again,
and they're four to one k. This other person doesn't
start till age thirty. Then they put in five thousand
dollars a year up until age sixty. Then they're both sixty.

(01:18:08):
Who do you think has more money in their retirement account.

Speaker 5 (01:18:12):
This is a trick question, the one that started the
person because I know.

Speaker 8 (01:18:18):
But you're looking don't because they're like, well, the person
be put in for thirty years, but they person a
did it so much earlier that that money that they
put in when they were twenty twenty one is doubling,
is growing. It's been growing ten years longer than they starting.
So if you have the time, it helps a lot.

Speaker 5 (01:18:35):
But that being said, if you're just getting to this
later in life, it's never too late. And I would
really love to know if I'm getting approaching my retirement years,
if I'm on the right track, versus getting there and
then having an opsie moment.

Speaker 7 (01:18:49):
Exactly. Yeah, it's never too late.

Speaker 8 (01:18:50):
We're talking about the advantages of starting early, but obviously
it's never too late to do it. And they have
different provisions. Especially if you're working, you can save more.

Speaker 7 (01:18:58):
You're making more.

Speaker 8 (01:18:58):
Money most likely in your fifty and sixties before you retire,
so you're able to save more.

Speaker 7 (01:19:02):
And they let the four to one case. I raise
you all have these ketchup.

Speaker 8 (01:19:06):
Provisions, which are they increase periodically annually and you can
put more.

Speaker 7 (01:19:10):
Weight, so there are ways to save more.

Speaker 5 (01:19:13):
Do people ever have the fear that they don't have
enough to come even talk to you? You know that
they how do they feel? Word? They don't want to?

Speaker 8 (01:19:20):
There's definitely the fear of that, because actually I don't
know if there's so much a fear, but it's just
it's an idea. They say, Okay, I don't have a
million dollars, I don't have five minute that doll even
I have one hundred, I don't think I can come
talk to you. Let me get to that point yet.
And that's where we were like, we don't have minimums
for a reason. We have models that we built up
through the years that allow us to invest any amount
of money and more cost effectively if it's a smaller amount, obviously,

(01:19:42):
and then we can get more complex as.

Speaker 7 (01:19:44):
They get bigger.

Speaker 8 (01:19:45):
But the idea is we have these models that you
can just start investing, because what I was just saying
is you just want to get going, because once you
have your feet wet in the markets, you're more likely
to keep doing it rather than waiting, waiting, waiting. What
is and you can get more of a grasp on
what's going on.

Speaker 5 (01:19:59):
So if you're sitting on this and you haven't had
this conversation with your financial advisor, or you have an
advisor and he's not prepared to get you through retirement,
this is definitely a time to revisit that with a
complimentary financial plan that could otherwise be costing you thousands
of dollars. It's a way to find out if you're
on the right track to getting to where you want
to be to enjoy that special time of life. That

(01:20:20):
phone number is five two zero five four four four
nine zero nine. We'll take a quick commercial break and
we'll come back and talk more about your money matters. Hello,
and welcome back to Money Matters. I'm Sarah Peterson here
with Tean Greenberg and Dylan Greenberg, and we're talking about
this crazy world we live in and how to navigate
our own financial freedom. Going into retirement and having a

(01:20:42):
financial plan is a number one. So let's talk about
this process. Because when I hear financial plan, I'm thinking, Okay,
I have plans. I want to sit on a beach
and drink a margarita. That's my plan.

Speaker 6 (01:20:52):
Well, now, Rochester starts with them. The process starts with
them realizing that chicked this out. Let me see what
this is about. I've heard about financial planning. How will
it help me? You don't know until you go talk
to someone. So what they do is they call us,
We set an appointment, We send them a nice email
telling them these are the things we need. We start

(01:21:14):
putting a plan together, and they come in and we
sit down and want to take about it hour Dylan
on the first meeting and get to know them, what
their goals are, what they want. You kind of get
a feel of how they like to invest. But it's
a lot of a lot of getting to know each
other and talking, and then you put the thing together,

(01:21:35):
the plan, and you put it all together, and I'll
let Dylan tell you what goes from there. In that
secret room when they're there and I'm not in that room.

Speaker 5 (01:21:41):
With them, it's our court.

Speaker 7 (01:21:47):
It's made it sound all week.

Speaker 8 (01:21:48):
We have our conference room where and the reason we
did this is because we have the laptop hooked up
to a TV, so when we're meeting with our clients,
we can show them everything real time, what we're looking at,
instead of them just looking at the back.

Speaker 7 (01:22:00):
Of our computer. Yeah, and just believing what we're putting.

Speaker 8 (01:22:02):
We're showing it on the TV, and the plan gives
you ways to show them real time, like how would
how would this affect my plan? If I was more
aggressive in investing, would this help? Would it not help?
What about being more conservative? And then a big one
is social security. It's always that question is it going
to be here when I retire? Is it going to
stay there? Especially with people taking it now, they're saying

(01:22:23):
is it going to stay there? I don't know, nobody knows,
but we have the tool to show you what impact
what that would impact your plan, how that would if
it was a twenty.

Speaker 5 (01:22:32):
Five percent age that you choose to do it out
that well, we have.

Speaker 8 (01:22:35):
That too, the Social Security Optimization Tool, where it gives
us an idea of what age through the numbers is
the best time to take it for you.

Speaker 7 (01:22:43):
Obviously that's one.

Speaker 8 (01:22:44):
Aspect of it, the economic side, and then the other
aspect's emotional. Some people say, I'm retiring at sixty two,
I'm never working again. I'm taking the money that I
gave to the government and they are going to give
it to me. Other people say, okay, I'm going to
retire at sixty two. I might get another job, I
might go part time.

Speaker 7 (01:22:59):
I don't know yet.

Speaker 8 (01:23:00):
So in that sense, you might want to wait till
a sixty seven right now for full time retirement and
your full retirement age, which is going to be sixty
six and ten months anywhere to sixty seven, because then
if you take it before your full retirement age and
you're working and you make above roughly twenty three thousand dollars,
you're going to start getting penalized and you'll take half
of your Social Security back through taxes.

Speaker 7 (01:23:21):
So you don't want to take it.

Speaker 8 (01:23:22):
But if you're not going to put pay anymore, or
if you're not going to work anymore, then you might
want to take it. And those are all different scenarios
that we go through with our client in the time
and see what their goals, and that helps us learn
about our client more.

Speaker 1 (01:23:34):
Well.

Speaker 5 (01:23:34):
Yeah, and like I've said before, another shows I am
so intimidated by that Social Security website and the secure
the book is so no one's reading that, no one
knows where to start. So it's so valuable to have
somebody who can give you those answers.

Speaker 8 (01:23:48):
Yeah, And another nice one that we have is inflation?
If is inflation going to be high forever? What will
that do to my plan? If it is stays, If
it goes back to five percent and stays there forever,
how will that impact my plan that I'm trying to
get income from now that I'm retired, So we can
show them that and what the impact is. Or if
they cut social Security by twenty five percent, inflation goes
up by five percent of day is or what will

(01:24:09):
that do? All those different scenarios, all the little questions
you have in your head constantly, they never really have answered.
We have the tools to help answer those questions, and
most of the time, probably ninety five plus percent of
the time, it eases your mind because it's not as
bad as you will.

Speaker 5 (01:24:22):
You hope is that most of those things don't happen.

Speaker 4 (01:24:25):
I caught that. I didn't know. I thought you were
a lot younger. But we'll go with what you said.

Speaker 6 (01:24:30):
Do you think you'll have social Security when you get
to sixty seven, sixty.

Speaker 5 (01:24:33):
Eight in all those years from now? I mean, it's doubtful.

Speaker 4 (01:24:39):
Okay, this is my point.

Speaker 6 (01:24:41):
Everyone thinks they might not get it there, but they're
all upset that we're trying to fix it.

Speaker 4 (01:24:46):
Oh, we're going to take it away if we don't
fix it.

Speaker 6 (01:24:50):
What you say at your age and people younger than you,
it's going to come to fruition.

Speaker 7 (01:24:54):
It has to be fixed.

Speaker 6 (01:24:56):
So I'm tired of listening people tell us we can't
fix it or don't want to fix it. There's a solution,
and it's not just taxing people that make more money
just to pay for everyone. Then why get solid security
out at all?

Speaker 4 (01:25:07):
You know what I'm saying.

Speaker 6 (01:25:08):
So at the end of the day, your answer is correct,
you're not sure, but that's like twenty somebody years away.
You think about people that are thirty years away. So
at the end of the day, you keep putting money
in and putting money in, and your husband keeps putting
money in. If we don't fix it, you're right, it
won't pay that.

Speaker 5 (01:25:26):
The next generation is way more worried about if they're
ever going to be able to forid a house. They're
looking so short term because they can't even think about
if they're gonna have social security right where they're living.

Speaker 6 (01:25:36):
Okay, but if we don't fix SoC security, who's gonna
pay you social security? The young people, they're going to
be taxed more. Okay, they taxed more. It's harder for
them to live. If they don't have to pay into
your Social Security and only their own, guess what, they're
gonna be much better shape.

Speaker 8 (01:25:52):
Yeah, I mean we tell people, I've been told my
whole life that don't expect to have sold scurity when
you retire.

Speaker 7 (01:25:57):
It was never supposed to last forever.

Speaker 8 (01:25:59):
It was put in play back in the forties or
the thirties just to help supplement people when they retired.
But they weren't living twenty thirty years after retirement.

Speaker 5 (01:26:06):
Yeah, it was probably until they get to sixty six.

Speaker 8 (01:26:08):
Or about ten years or so. So it was a
lot different back then when this came out. And I
mean now social Security is insolvent. It is just he's
getting paid his Social Security. I'm paying into Social Security,
but we have more people taking from it than putting
into it. So eventually, yeah, it's going to go billy
up in a sense that you don't know what's going
to happen with this. So try and put your retirement
is your own hands by investing in your roth iray

(01:26:29):
a traditional iray a four oh one k wroth four
o one K and the ROTH part means that it's
after tax money is post tax is put in, you
never get taxed on it again. So all those games
you make at your ROW four o one K until
you retire are going to be tax free when you
take it out, which is a lot better than the
traditional four to one K because if you both have
a million dollars in both of them.

Speaker 7 (01:26:46):
In reality, your traditional.

Speaker 8 (01:26:48):
Four to one K is going to be anywhere from
seven hundred to eight hundred thousand dollars total. Your million
dollars in your ROTH four one K is going to
be a million dollars. So something that's become more popular
among big corporations as well in the last few years.

Speaker 7 (01:26:58):
So if you do have that offer, you want to
invest in.

Speaker 5 (01:27:00):
That oh one hundred percent. And also when you get
a four oh one K, I feel like they hind
it to you and you have no idea what you're
invested in or what's going on.

Speaker 8 (01:27:07):
Yeah, and it's no fault of the companies. They're not
able to tell the workers.

Speaker 7 (01:27:11):
They're just here.

Speaker 8 (01:27:12):
You go enrolling it and then here's an idea of
if you're in there, and that's why they have the
target funds and everything like that, but they're never as aggressive.

Speaker 7 (01:27:19):
As you should be.

Speaker 8 (01:27:20):
If you're young, you want to be aggresive because you
got time on your side. You have time to weather
the storm. Well, you have time. If you were twenty
one and you just start in the workforce back in
two thousand, right before that dot com bubble, you would
have weathered the storm of that three years down market,
then two thousand and eight, then twenty twenty and twenty eighteen.

Speaker 7 (01:27:34):
That December twenty two.

Speaker 5 (01:27:35):
Bad for all those people retiring in two thousands.

Speaker 7 (01:27:37):
Terrible timing. But you can take advantage of what's going
to happen.

Speaker 6 (01:27:40):
Out of all this with changing education, giving them back
to the States. Maybe we'll get some financial literacy classes
starting in high school and in college and make sure
that people understand what to do. Because if you just
keep doing the same thing over and over again, and
then you become a parent, you don't know what to do,
and then you have children and they don't have parents
that know what to do, it.

Speaker 4 (01:28:00):
Just keeps evolving.

Speaker 6 (01:28:01):
How about stopping that and start educating so people.

Speaker 5 (01:28:05):
Know all the classes that are now missing in their education,
all the classes that we loved most similar most from
like home, economics, like they don't have that anymore.

Speaker 4 (01:28:13):
I did have that.

Speaker 7 (01:28:14):
I actually you learn that.

Speaker 5 (01:28:16):
And and I mean these are practical things, like I
mean so mean, yes, you can do those things in
the home, But I wonder why they took out everything
that was practical. And then my kids are doing like
super complex algebra that they'll probably never ever revisit again.
And I'm like, but yeah, you don't know how to
fry and eggs.

Speaker 4 (01:28:31):
How about geography?

Speaker 6 (01:28:33):
Yeah, kids, I don't know the difference between a country,
a state, a city.

Speaker 4 (01:28:37):
They don't know what states are around each.

Speaker 6 (01:28:40):
Other, they don't know what country itself.

Speaker 5 (01:28:42):
Start a geography class on TikTok. It would go viral
and everybody would know everything where the news comes from
the reality is is that this is a good point though.
Look at all the different sources of media we're getting
right now. We're learning from all different directions, and most
of it's misinformation. So we need to bring it back
to what we do know and the truth that we
can plan with, because other than that, it's just creating

(01:29:03):
this fear factor like you were saying, and it's not healthy.

Speaker 8 (01:29:06):
Yeah, exactly, And it's really just you got to figure
out what's going on in your situation, and then all
the outside noise that you think is affecting you might
not be affecting you as much.

Speaker 5 (01:29:14):
Which is why whoever's listening on the other side this
screen needs to understand that if you don't have a
financial plan for retirement, if you've never had these conversations,
this is the time to do it. Because we can't
tell you how to invest your money. We can't tell
you what to do until we know everything about you.
We know the whole plan that's individualized for you. And
that's what I love about this. It's not some cookie
cutter thing. This is something personalized to you. So we're

(01:29:36):
going to take a quick commercial break and we'll come
back and talk more about your Money Matters. We'll see
you interview. Hello, and welcome back to Money Matters. I'm
Sarah Peterson here with Dean Greenberg and Villan Greenberg, and
we're talking about the importance of a financial plan. And
what I want to know is as you approach a retirement,
you get closer to that stage and you're sort of
taking risk off, Like, how do you find that balance?

(01:29:56):
Because I know when you're younger, you're so aggressively wanting
to invest and make money and make money. But then
you got to kind of pull back a little on that.

Speaker 8 (01:30:02):
Yeah, like I was talking about last segment, how when
you're younger you can weather the storms. But then you mentioned, yeah,
I would hate to retire in two thousand because then
all of a sudden, you're living on that your money.
You got to be more conservative, and in that sense,
you got to be less in the stock market, the
equity market, and buy more bonds. That's the bond market.
The bond market is supposed to be the more stable market.
It's a lot bigger than the stock market. It has

(01:30:24):
bonds you can buy from individual companies from the US Treasury,
which is the safest investment you can do as long
as it can be. It is triple a raid and
that's just the best it can be. And then so
what it means is you buy an individual bond, you
hold it to maturity, you get your money back plus interest. Obviously,
the safer the bond is the less interest rate you
get on it. But you're not looking for so much
growth anymore. You're looking for stability. And a lot of

(01:30:45):
people that we work with who retire and start need
to live on their retirement accounts. We buy the individual
bonds for a bond ladder, which is say you buy
a one year bond and then a bond the matures
in two years, three years, four years.

Speaker 7 (01:30:56):
And five years.

Speaker 8 (01:30:57):
So we know that if markets tend late, markets tend
to go down one not of every four years or
so on average during that year. We don't have to
sell equity side the stock market side to raise cash
to send to you for your paycheck that you're taking
from your account. We have it ready already in individual
bonds and that have matured through the safety and the
stability side of it, and those are different than a BONDTF.

Speaker 7 (01:31:19):
A lot of companies use bond ETFs.

Speaker 8 (01:31:21):
The issue you run into the BONDITF is that you
can lose your principle. Like in twenty twenty two, the
markets the stock market went down roughly twenty two percent,
the bond market went down twenty six percent, because you're
losing because interest rates just went up. So then the
value of the bonds that are held within the bond
etf went like down a lot. So then all of
a sudden, your principle you put in one hundred dollars
in that bonditf is down thirty percent. You have seventy

(01:31:43):
dollars now, but you don't necessarily get that money back.
If you held this individual bond to maturity, say you
bought a one year bond and you have it, it
could be down because it straight go up, so the
value the bond goes down during that time. But if
you hold it to maturity, you'll get your principle back,
You'll get your hundred dollars back in the bond, and
then you'll get your interests on top of it. So
individual bonds are a little more stable, a little more

(01:32:04):
safe if you buy the good companies or you buy
the US Treasury. Obviously, if you hear the word junk bond,
the likelihood of them paid are a lot less, but
you get a higher interest rates. So there is risk
in the bond market, but it's supposed to be stable,
more stable, and that's one that you want to look
to out reallocate your account as you get closer to retirement.
You want to be able to have roughly the old
age thing is sixty forty sixty percent in equities, forty

(01:32:27):
percent in the bond market. But there's a lot of
different ways to get that allocation.

Speaker 5 (01:32:32):
And do you change it when things are feeling like current?

Speaker 7 (01:32:35):
Of course, yeah, can out the climate.

Speaker 5 (01:32:36):
It just seems a little well.

Speaker 6 (01:32:37):
That's what's a difficult. One of the things that we do.
We do the financial plan but we also manage the money.
I've been We started in this business in eighty eight
when I came to Tucson as a money manager, and
I put myself on the other side of the desk
and said, what do I want it as a client and
build my whole company around the same things I want
as a client that we can deliver as a as

(01:32:58):
a phone and as grown. We've kind of grown now
into a family office. And not only just family because
of father's son. I'm talking about family offices that are
able to offer financial planning, risk assessment, insurances, we're able
to give We're also able to do estate planning. We
have an attorney in the office, we'd have accounting associations

(01:33:20):
in the office with people, and we're able to grow.
So you come to us, we're all working towards what
you need as a person, and we all know you,
so you don't have to jump around.

Speaker 4 (01:33:30):
The different things. If you don't need to. So we
have everything under one roof.

Speaker 6 (01:33:33):
We handle obviously the money management, the financial planning, and
the risk assessments.

Speaker 5 (01:33:39):
Yeah, but this way you know who's dealing with my say,
estate planning and different things, and so you guys can
work together and it feels like everyone's on the same page.

Speaker 6 (01:33:47):
Well, they have to have the same idea we do.
Client comes first, Okay, give them a great value, work
with them, answer their questions, do the things that you
need to do in customer service. Nothing, there's nothing that
you can do to tell me that customer service shouldn't
come for us. It costs you nothing to have customer service.
Just answer the phone, talk to the people, deal with them,

(01:34:08):
get that question and answered. Don't delay that customer service.
If you do that, people shock today.

Speaker 8 (01:34:13):
Yeah, I mean another thing of customer service helping people too,
And that's why we always with this financial plan.

Speaker 4 (01:34:17):
It's free.

Speaker 8 (01:34:19):
You don't get charge anything unless you open an account
with us to invest with us, and then it's the
whole fee structure. But leading up to that, if you
want the financial plan, we help you with it. We
give it to you as after the meeting. And then
if you never want to talk to us again.

Speaker 4 (01:34:30):
You never have to.

Speaker 8 (01:34:31):
But it's the idea of helping people and helping things.
And that's why we don't. We want to make it free.
We're not there to make it a burden to do it,
or scare people to come in, orre's a lot of money.

Speaker 7 (01:34:38):
We just want to help people.

Speaker 5 (01:34:40):
Well, all goes along with your team approach and your education,
your radio shows and all the things you guys do
your television giving people the education that I don't know
where else you get an education like that unless they
do bring it back into the school.

Speaker 6 (01:34:53):
And more than any of that, just education. Sure, we
have all the education and all license and all light stuff.
And guess what, we've got a lot of experience. I've
been doing this a long time. Should you lease a car,
should you buy a car? What's the best way to
get your mortgage out.

Speaker 4 (01:35:06):
Of the house.

Speaker 6 (01:35:07):
We'll help all the clients with that without getting paid
for that. That's part of what we do as our
services as a family office to help people. Okay, we
get paid with the money that we that we invest
for you. Okay, better you do, the better we do.
The worse you do, the less we get. Okay, it's
a fee. All feed business. That's what we are, well
feed business.

Speaker 5 (01:35:26):
Well, and we talked about this with the Trump presidency.
But you know, transparency is key right now. I think
everyone is just so leary about not knowing what's really
true or not, and so being transparent with people and
talking to them straight like you guys do and giving
them just really what everyone's looking for is the answers.

Speaker 6 (01:35:41):
So there's one thing left to do, and why does
that Sarah pick up the phone.

Speaker 5 (01:35:46):
Oh, I was going to say, go get a cup
of coffee. You have coffee. You told me you have coffee.

Speaker 1 (01:35:52):
We do.

Speaker 4 (01:35:53):
I don't drink coffee, so I don't know how good
it is.

Speaker 7 (01:35:54):
Everyone said, great coffee.

Speaker 5 (01:35:56):
Thank you so much for taking the time to be
with us. We hope that we educated you in a
way that is so difficult to get these days. This
phone number is five two zero five four four four
nine zero nine. Give Dian and Dylan a call and
this is a completely complimentary for taking the time to
be with us. So we hope to see you next time.
On your money matters.

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