November 26, 2025 • 28 mins
What if the game isn’t just hard—it’s tilted? We sit down with Barry James Dyke, president of Castle Asset Management and author of The Pirates of Manhattan, to unpack why so much financial “wisdom” is marketing, where today’s biggest risks actually hide, and how seniors can secure dependable income without betting the house.
Barry explains how banking really works, why central bank policy shapes your grocery bill, and the uncomfortable truth about incentives on Wall Street. We get into the coming hazards he sees in private credit, private equity, NAV loans, and continuation funds—areas that look calm from the surface but can freeze when you most need liquidity. Then we pivot to solutions that don’t depend on lucky timing: covering fixed expenses with guaranteed income, building a cash and T‑bill buffer, and letting growth assets be the satellite rather than the core.
We also talk about choosing advisors with real independence, reading the fine print on arbitration and fees, and stress‑testing a plan against back‑to‑back downturns. Barry’s Five F’s—faith, family, friends, fitness, finances—offer a grounded way to make better choices and resist the casino vibe of app‑based speculation. Along the way, we dig into data on pension fund returns, why the U.S. trails other nations in retirement outcomes, and the simple guardrails that keep you calm when headlines scream.
If you want common‑sense guardrails, clear language, and a retirement plan that survives reality instead of averages, this conversation is for you. Listen, share with someone who needs a steadier plan, and subscribe for more practical interviews. Your future self will thank you.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_01 (00:08):
Welcome back to Senior Care Academy, a help of
the podcast.
Today's guest is Barry JamesDyke.
He's the president of CastleAsset Management, a fiduciary
advisor firm known for holisticmacroeconomic planning.
With over 40 years ofexperience, Barry is a bold,
contrarian voice in finance,exposing Wall Street's hidden
risks, advocating for saferlong-term income strategies.
(00:30):
He's a best-selling author ofThe Pirates of Manhattan.
He has some other books comingout, like um, that's okay.
He's working on some books.
Um, and he's been featured inmajor media and financial
documentaries.
So Barry's research-backedclient first approach helps
(00:51):
individuals take control oftheir financial future with
clarity, truth, andtransparency.
So Barry, thanks so much forgiving some of your time.
SPEAKER_00 (00:59):
Camp, thank you so much for uh uh being letting me
be of service to you.
And um it's great um to connectwith you.
And um you sent me some somesome great questions.
So, you know, if you if you wantme to go ahead with some of
these things, it would bebecause it's yeah, um, it's
focusing on seniors, I'd behappy to.
I think of course, you know.
SPEAKER_01 (01:19):
Well, I just I guess before we jump into that, I'm
curious.
So you've I'll kind of the firstquestion before we get in that
is you got into financialmarkets, um, you've been in it
for over 40 years.
What I assume when you got intofinancial markets, you were
probably like most umfiduciaries and financial
advisors that are like, yeah,all everything that's being fed
(01:42):
from Wall Street, they're allinto it.
So what has changed your view tocreating the Pirates of
Manhattan um and the other booksthat you're writing right now?
SPEAKER_00 (01:53):
Um one of the one of the things which I've learned,
uh Caleb is so much of it's justa bunch of crap.
And um it's it's just it's it'sa it's it's it's it's all so
much of it's propaganda, and itstill is.
And um we're in another bubblecoming up.
There's no question about it.
Uh and um um, you know, and Ithink it I hate hopefully I'm
(02:17):
not, but I I fear this is gonnabe worse than than 2007, 2008.
Um last time we had uh last timewe had um subprime mortgages
were blowing up.
This time it's gonna be privateuh credit, it's gonna be uh uh
private equity, it's gonna bethings like um uh net asset
value loans and um continuationfunds and all this other crap.
(02:40):
And um it's um one of the thingsI've learned is really you have
to uh believe in thefundamentals.
I mean, you're you're Utah, butI'm you know, um I think now
more than ever, I think peoplehave to really um um look at
what is the right thing to doand also use common sense.
Yeah, that does that that thereseems to be no common sense in
(03:01):
Wall Street or in the media, youknow?
SPEAKER_01 (03:05):
Yeah, that's that is I mean, over 40 years of
experience diluted down of justlike you've gotta it boiled down
to common sense, but like Isaid, common sense isn't super
common sometimes.
Um what over your 40 years isone mistake that you wish that
your younger self could haveavoided, or that I mean, for
(03:26):
somebody like myself, gettingmore I'm just in my um late
twenties, you know, more intofinancial stuff.
What would be the biggest thingfor me to try to avoid?
SPEAKER_00 (03:38):
I think people need to know how banking really
works.
I think that I wasn't really Iwasn't able to become a
best-selling author and sold mybooks politely.
Go to people and go to BarryJamesDyke, by the way.com if
they want to pick up any ofthese books.
Um and I've sold 45,000 copiesof the books, literally through
word of mouth in 23 countries.
But I I couldn't be a servicecable until I figured out the
(04:01):
banking system.
That's interesting.
And until I understood thebanking system, I really didn't
understand finance, and and Ididn't understand how the
Federal Reserve worked and allthat other stuff.
And and I'm not being umconspiracy theorists or
whatever, but until I understoodthe actual mechanics of it, um
and how central banks work andhow they um they essentially um
(04:24):
uh create massive inflation, I Ireally couldn't be of service.
So so so that's it.
So I think really one of thethings uh which I older people,
believe it or not, do notunderstand this stuff um either
is that um matter of fact, theykind of freak out sometimes um
when I explain that the FederalReserve is not federal, there
are no reserves and and thatbanks can create money out of
thin air.
And if they you know pay backthe money they create out of
(04:47):
thin air, they can repossesstheir assets.
So I think the whole thing isyou know, you gotta have a good
offense in life, but I think oneof the first things you really
have to have is to have reallygood uh uh offense as well.
And I think and um one of thethings which for me anyhow, one
of the most important things ismy life is my faith, you know,
(05:07):
and and and and what I do.
And you know, I couldn't doanything without my uh the grace
of God, and um, you know, it'suh so that's really the most
important things in my life.
But those are just kind of thethings which from 40 years of
experience, and because you knowit it it's criminal now what's
going on.
Um you know, and that andthere's over speculation, and um
(05:31):
your generation cale too, whichwhich kind of frightens me.
Um but it there's too muchgambling going on now.
SPEAKER_01 (05:39):
Interesting.
It's a lot of virtual gambling.
I read something recently thatlike Vegas is slowing down and
shutting down because people canjust jump on their phone.
SPEAKER_00 (05:48):
Yes, well, yeah, that's the whole thing.
Well, see, that's that's whatI'm saying.
And you know, the old sayinggoes, What's the difference
between Las Vegas and Manhattan?
Do you know?
Have you ever heard of that jokebefore?
I haven't heard of that joke.
Well, one's a casino in thedesert, and another one's a
casino on the island ofManhattan.
SPEAKER_01 (06:07):
That's funny.
SPEAKER_00 (06:08):
I know so so the get so the gambling thing I I think
is really important tounderstand, but but that's you
know, um, we talk about thefundamentals now, but the the
the the gambling now in youryour your age bracket, if you
will, is horrific.
And you know, and I've actuallystudied this in the in the UK
because actually they legalizedgambling there, I don't know,
(06:30):
20, 30 years.
Um the suicide rate is very veryhigh.
And and because now you can youcan have a casino on your
smartphones.
SPEAKER_01 (06:39):
Yeah.
SPEAKER_00 (06:40):
So I I so so some of the things which I've learned, I
guess maybe one of the I guessmaybe the uh the thing I've
learned for seniors is really tobe prudent.
I mean, get the fundamentalstaken care of, take, take, get
the groundwork taken care offor, put the foundation down.
All this other stocks, whetherit be NVIDIA stock, whatever, it
could be a fantastic stock.
But a lot of it is it's kind oflike the window dressing.
(07:01):
People that need to get thefundamentals down correct.
They need to get the blockingand tackling together.
Yeah.
Okay.
Until they get that, um, they'renot gonna, you know, they're not
gonna have a uh safe retirement.
And you know, um, I don't know,I I, you know, and it is
luckily, gosh bless me, I dobusiness with people around the
country.
And I actually did just finishoff doing a um pretty large uh
(07:25):
retirement plan for a client andmine in Colorado.
And you know, we we put togetherthe whole thing with structural
guarantees and annuities andthings like that, and they're
gonna be really they're gonna befine.
SPEAKER_01 (07:37):
I love that.
That's awesome.
I'm speaking of less strong andfirm uh investments and gambling
things.
Is there a moment over the 40years that you saw somebody fall
victim, whether it was just apure financial scam or was a
super risky investment, it justhas stuck with you, really
resonated?
SPEAKER_00 (07:59):
I wish it wasn't just one-time occurrence, Caleb.
Um I've seen it happen numeroustimes.
And um and it it's it'shorrific.
And if people understand it whenif they ever open up the
brokerage statements, and no oneever does.
Um but if you open up yourbrokerage statements from any
any brokerage firm you you whatis you're open to what is called
(08:24):
arbitration.
So if you lose money, it'sreally you you you give up your
right to sue.
Interesting.
You know, so so that that's oneof the things.
So I've actually seen peoplewith massive losses, you know,
happen uh numerous times, and Iwish it I wish it wasn't a um I
think I've seen I've seen ithappen a lot.
(08:46):
And when and you understand thegame, and I do, it's rigged in
favor of Wall Street or the uhother banks, and um, and and
there's literally not much youcould do it.
And then if you look at the thethe lawyers, everything's so
lawyered up, Caleb.
Um that uh you you really don'thave much to stand on.
SPEAKER_01 (09:05):
Yeah.
Yeah, that's one of my the thingthat's um with a lot of
financial advisors that I'venoticed is like like you said,
the loss, because they're justgetting like a percentage fee,
the it could perform not great,but they still get paid, and
then you just like lost money.
And so it is interesting thatthere's kind of all those
legalities to be like, hey, giveus all of your money, and you
(09:27):
know, hopefully we do well, buteither way, we're gonna get
paid.
Like those firms are my leastfavorite sometimes.
SPEAKER_00 (09:32):
Well, yeah, and that's the whole that's the
whole model.
Okay, that's the whole modeltoday.
It's all about assets andmanagement, AUM.
Okay, and I'm everyone's gonnamake fees.
I'm I'm not against fees, I'mnot against I'm a capitalist,
okay?
But the whole thing is that thethe the like I had dinner with a
friend of mine, um she was aboutthree or four months ago.
No, no, no, about three or fourweeks ago, excuse me.
(09:54):
And a good guy, and you know,very and I I said, Cliff, I
said, how, you know, how youknow, and he was telling about
something new, and I said,Cliff, you know, I know this
research.
I said, How could you, how couldyou, you know, I didn't want to
embarrass him, but I was like,Sentry, how can you do this if
you really do?
Yeah.
And and a lot of thesewarehouses, whatever, it's just
(10:16):
about as just getting as muchassets under management as you
possibly can, and and making thesale.
And um, and I I understand thatwe all have to sell.
Um but the thing is I think whenyou're dealing with people's
money and their livelihoods andtheir in the retirement plan,
um, you have to take this, youknow, it it's a it's a it's a
it's a privilege and a gift tohelp people with this stuff.
(10:39):
Um but one of the things whichuh I'm very passionate about is
the um um the status ofAmericans' retirees.
unknown (10:48):
Yeah.
SPEAKER_00 (10:49):
You know, if you talk about season retirement, um
one of the things that I thinkwould be interesting to your uh
uh listening audience is thatnow there's a company called
Mercer out of Australia, andeach year they do a uh world
from the calculation of the bestretirement systems in the world,
you know, the top 30 countries.
Actually, they do about 45, butthe only thing ones I look at is
(11:11):
the top 30.
Yeah.
Now we're the number one economyin the world, Caleb.
All right, yeah.
We're the number one capitalmarkets, which means we're the
we you can raise more money inthe United States than anywhere
else.
So we're the number one economy,we're the number one capital uh
um markets uh country in theworld.
Where do you think the US standsin terms of the top 30
(11:34):
retirements?
Let's scale from one to 30.
Where do you think we are?
Number one being the best,number 30 being the worst.
18.
SPEAKER_01 (11:44):
And and really worse 30.
Oh my gosh, that's crazy.
SPEAKER_00 (11:49):
Yeah, we're horrible.
Actually, Mexico, if you canbelieve it.
I and I I I'm not making thisup.
Um and I'll happily send thelink to anyone.
SPEAKER_01 (11:56):
Um, I could link it in the show notes or something.
SPEAKER_00 (11:59):
Yeah, so the yeah, so Mercer, who does this out of
Australia doing this for 16years, by the way.
SPEAKER_01 (12:05):
Yeah.
SPEAKER_00 (12:06):
Um, yeah, we're number 30.
I mean, and and and actually,and which is kind of criminal,
is that um in terms ofintegrity, which I think is you
know the ability to tell thetruth, I think we we we ranked
dead last, if not not dead last,I think maybe number 29 or out
of the 30.
So these are the facts of come,you know, which face a majority
(12:30):
of Americans.
You know, and now of coursethere's always gonna be
exception to that, and you know,and you know if you're ri really
rich, you're gonna have noproblem retirement, okay?
Yeah.
All right, or if you'regovernment employee, um you
know, uh staying government,teacher, whatever, you you're
getting a guaranteed annuities,which are the best way to go.
(12:52):
And all by the way, all the bestretirement systems in the world,
and I've researched this todeath.
Um, the Netherlands, Israel,Iceland, Norway, Switzerland,
they're all they're all the bestretirement systems are all
annuity-based, except for theUS.
So we've got to be able to dothat.
SPEAKER_01 (13:09):
We're number 30, so it's obviously working.
SPEAKER_00 (13:11):
So yeah, so yeah, so so so one of the things we would
so foreseen is like really it'sputting putting uh sink belts
around your money in guardrails,okay?
Because Wall Street and assetmanagers, they're not gonna do
it.
Yeah.
You know, yeah, I and I I thinkyou know, I'm I'm I'm very
grateful, God's blessed me.
(13:31):
I understand this stuff.
Don't ask me how to change theoil in my car.
But I know how these financialsystems work.
SPEAKER_01 (13:37):
Yeah.
What so for the listeners, whatwhen you say like put a seatbelt
around your finances, is thatlike an annuity, or what are the
biggest like hidden risks thatespecially people going into
retirement overlook?
Or people find it.
SPEAKER_00 (13:51):
You know, the first thing we you know, you've got to
care you you've you the firstthing you have to really do is
is have you know the um thebasics taking.
And and by the way, thisresearch, by the way, which in
Fidelity or Fidelity's beendoing this called the four backs
theory that came up with this in2001.
I've honed it.
Um the first thing is you'd haveall your fixed costs covered.
(14:14):
You know, you know, your housingand your and your fuel and all
all your fixed costs, which youknow, with and then you know you
plug in your things like traveland food and all that other
stuff, which you need to do.
So so you give take care ofthese things first.
And and if and and so and peoplesay, well, I don't like
(14:35):
annuities.
Well, I guess you know everyoneeveryone buys them.
Matter of fact, um, you're inUtah, right?
Yeah, is it Zion's Bank Corp?
SPEAKER_01 (14:44):
Yeah, that's kind of the regional bank around here.
SPEAKER_00 (14:47):
Well, you know what, you know what Zion's Bank Corp
did with with their retirementplan?
I don't know.
They bought a big annuity toretire into fixed to fund their
retirement.
Interesting.
Yeah, matter of fact, isn'tZion's, I think it's one of the
oldest state chartered banks inthe country, I think, something
like that.
SPEAKER_01 (15:05):
I think so.
I don't know.
I bank with them.
I probably should know moreabout them.
SPEAKER_00 (15:09):
Oh, really?
Okay, so yeah.
So but it's all true.
So so anyway, so your own yourown bank had actually bought a
new one to fund the retirementsystem.
And um, but this would be comingout the other researchers uh put
together.
So again, there's no panacea.
I think you know the the firstthing is you know, I always tell
people I have my five F's forseniors, and I really can give
(15:32):
them every anyone.
I like it.
And my five S, do you want tohear them?
SPEAKER_01 (15:36):
Yes, please.
SPEAKER_00 (15:37):
Well, my first the five S essentially is my faith.
My faith is the most importantthing in my life.
You know, they did a question ofmy belief in God.
Um, I call him Jesus Christ orwhatever.
So that's really the mostimportant thing.
I couldn't do without my faith.
Life is too hard for everybody,all right?
SPEAKER_01 (15:54):
Yeah, it's it's hard to stay grounded without
something.
SPEAKER_00 (15:58):
I don't know how people do it without.
I tried, okay, that didn't workout too well, all right?
Um this time of means family.
Obviously, you know, you know,you know, one of the really the
real joys in this life.
I don't know if you're married,you have children yet or
whatever, but um now obviouslywe we we have to do this stuff
(16:21):
for for um you know our family,you know.
And I it's only for my family,my grand granddaughters.
Um so that's really number two.
And number three is friends.
Um none of us can do any of thisstuff without friends.
I mean, you have I just saw yourengineer with uh Chris or
whatever.
No one can do anything on theirown.
Totally.
(16:42):
Okay, you can do what you dowithout friends and and and
people.
Um the next thing I think isreally, really, really, really
important is fitness.
You talk about um seniors retireand thing on that.
Stay active, okay?
If you rest, you rust.
Yeah.
You know, so um so fitness is avery big part of my life.
I'm pretty regular in the gym.
(17:03):
Luckily, I live in the I live ina beautiful place.
I live on the ocean on the eastcoast.
Um, so um they although it'sgetting dark now early, but I so
you know, so it's a great placeto walk, get outside nature.
And then the last thing isfinances.
So um, you know, it's I think ifyou take care of your faith,
your your family, your friends,and your fitness, I think
(17:24):
finance will fall into place.
And and I think a lot of thethings which if it's with
seniors, I think is reallypreservation, conservation of
capital is really, reallyimportant.
Um, again, I'm not against theuh people who want to invest,
um, but it it it's it's atreacherous flow.
And the thing is, one one of thethings that I've learned is
these banks and these assetmanagers, they make money
(17:47):
whether it goes up or done.
They don't really don't care.
SPEAKER_01 (17:50):
Yeah.
Yeah.
On that note, are there redflags?
Obviously, you don't want tolike poo-poo on on other people,
but are there like red flagsthat whether it's younger people
or seniors, that they shouldwatch for when they're trying to
pick out their advisor or theirfinancial institution um that
they work with?
SPEAKER_00 (18:12):
Um I you know, I said a lot of us comments is I
think if you look people in theeye, I think people are students
of the of the business, okay?
And also having someindependence.
Um because if we generally havea big warehouse, one of the big
warehouses or one of the bigrenowned brokers, they're gonna
(18:32):
push this crap.
Yeah.
And um, so I think you're if youif you possibly can get some
type of independent personbecause the agenda it it is
pushed, and you know, I've I'vesold, you know, all all these
everything you can imagine overover the years, and um I've
(18:54):
learned that you really have toyou know buy yourself when you
buy these products, you have to,you know, be invested in
yourself.
You know, also you have to lookat what's behind the deal.
Okay?
And if people really understandwhat's behind the deal, um and
who's benefiting from it.
Because after after all, youknow, we're here to serve people
(19:17):
in this.
So um so I think you know,integrity I mean is is probably
the most important thing.
Yeah.
Um but it's hard to tell becausepeople, you know, people are
salesmen, and if people believeyou know the markets do go up,
but if you the research I'mcoming out is that to to pick a
(19:39):
diff an individual stock, andand there's it's it's it's very
difficult.
unknown (19:44):
Yeah.
SPEAKER_00 (19:45):
There's actually there's a guy by the name of
Henrik Bessenbinder, he's aneconomist out of um uh people
can Google him on Henry HenrikBessenbinder, he he did about
picking stocks, and it's it isif you understand the the real
numbers behind this stuff, uh hetracks stocks since 1926 to
2019.
(20:05):
It's virtually impossible topick the right winners.
SPEAKER_01 (20:08):
Yeah, yeah.
Trying to actually win in thegame.
There is something that bringsup something um a lot of the
time, obviously compoundinginterest, all those things are
very real, um, and verypowerful.
There's the thing that um isalways interesting to me when I
talk to different advisors isthey're like, if you put this
(20:30):
in, it'll grow you know 7% everysingle year.
But then they're like, they'redoing it over a hundred year
span.
I'm like, well, I need to pullthe money out in 30 years.
And if you did 30 years fromlike we're still up from 90s
till 2020, if I just if I wasleft money, but then you know,
2008 and then the spike in 2021,it's just interesting.
(20:51):
The it's gonna grow no matterwhat, guaranteed.
7% per year is always aninteresting kind of thing to me.
Um, but I like those two thingsthat you mentioned of like one
is integrity, if you can findthat, and then independent,
because I've also experiencedthat with people that are housed
specifically with just one firm.
Especially like at the bottom ofthe rung.
(21:12):
They have their things that theyhave to sell, whether like you
need them or not.
Um and a lot of the time whenyou pull back the covers, you're
like, oh, it's not a very uhpretty site.
They just have to tell how theyget up the chain.
SPEAKER_00 (21:27):
It's not, and you know, uh because a lot of this
stuff is and I have got someI've got I've got the actual
reports on this.
Um one's done by CliffwaterAssociates out of uh Marina Del
Rey, California, and the otherone's out of done by Piscatica
Research out of uh Portsmouth,New Hampshire, and they
calculated all the returns.
(21:49):
You couldn't make this stuff up,Caleb.
All the long-term returns onpension funds.
Now, the that's really one ofthe only reasons we can we can
measure because uh it's a fixedobligation in time.
In other words, they have to paya certain amount of money.
And what Cliffwater found, andwhat Piscata research found, and
(22:11):
they were doing this totaltotally independently, is that
the 30-year returns oninvestments were almost
identical to treasury bills.
Maybe maybe within five, tenbasis points, okay?
So again, you know, and theseare pension funds like I don't
know, Utah has in Utah orCalifornia, Calipers and
Calstridge, which is you'reyou're next to California,
(22:31):
right?
Can you talk next to California?
SPEAKER_01 (22:32):
Uh I've gone to California a lot, or a few
states over, but I've been therea lot.
All right.
So they're the two largest uhpension funds in in the world.
SPEAKER_00 (22:40):
And and so my my point is if you if you look at
the real rates to return onthese giant pension funds, they
pretty much mirror what a30-year treasury bill is.
It's really kind of it's kind ofspooky.
But when you see the what asales job, Wall Street's done.
(23:02):
You know, it's you know, it'sjust you know, and and the thing
is when you understand that thebanks really aren't accountable
for everything.
Um when you look at what wouldreally happen during 2008, and I
have, um these banks were neverheld accountable.
Um they were big they wereallowed to become bank holding
companies and get TARP money, uhcouple asset relief program
(23:25):
money.
And then they were getting, youknow, uh spaces of free cash
from the um from the FederalReserve.
And this is all fact.
I got it from the governmentaccounting offices.
Wow between, you know, betweenuh Morgan Stanley and uh Burrow
Lynch and uh Bank of America anduh Cindy Group.
(23:45):
You know how much they you knowhow much they they borrow from
the uh from the Federal Reserve?
SPEAKER_01 (23:49):
Oh, it's probably a gross amount.
Eight trillion.
Jeez, that's insane.
SPEAKER_00 (23:57):
Yeah, so the thing is that you know, if Caleb,
you're you're a small businessperson, okay.
If you if you screw up, no one'sgonna bail you out, okay?
But this is but this is this isthe truth.
And I testify in court and allof this stuff.
And but yeah, and and then Ididn't come up with this
research.
It was actually Bernie Sanderswho did this, who we say we do
(24:20):
well about Bernie, you know, buthe pulled this uh GAO report
together in the Federal Reservefound documented that you know
these banks between just fourbanks that pull out you know
eight trillion and eighttrillion credit.
That's Goldman Sachs pulledpulled out eight hundred and
fourteen billion from uhDecember of 2007 to July of
(24:45):
2010.
Wow.
Wow.
Not making this stuff up.
So the whole thing is if it iffor your listeners out there, if
it sounds too good to be true, Idon't know what your folks told
you, but generally if somethingsounds too good to be true, it
generally is.
Yeah.
And so, so um, so and and andand I think quality too, I think
(25:06):
is well, quality never goes outof style.
SPEAKER_01 (25:09):
Yeah.
SPEAKER_00 (25:09):
You know, and you know, I I you know, I I like
nice stuff and they be and goodquality will last.
SPEAKER_01 (25:17):
Yeah.
Like that.
Barry, we're this has gone by.
It's super interesting, and Iwish we could keep talking.
The last question, I guess, thatI have is kind of for the senior
demographic.
If you could give one because Ithink a lot of the people, the
seniors that I talk to,especially, if they didn't lay
the groundwork in their 20s and30s, they're feeling hopeless.
Is there like one actionableitem that seniors could try to
(25:41):
take today to protect theirfinancial future?
Well, print first, but um Yeah.
You know, yeah.
Family, friends, fitness first.
And then a financial thing.
SPEAKER_00 (25:54):
Friend first, really, because you know the the
the we we are in a hugeretirement crisis.
There's no question about it.
Um I I you know, don't panic,just do you know, one day at a
time, I guess.
I think really you have to andif people have any questions
about it, they can email me orthey can get through my website.
I I answer people and I just getone.
(26:17):
That's awesome.
Uh and I I and I'll reach out.
People reach out to me, I'llreach out to them still as long
as I possibly can.
Um there's always hope.
I mean, we still live in agreat, great country, you know,
and um but you have to take youhave to take control of it,
okay?
And um you have to look outwhich which is best for you.
(26:38):
And um, you know, and you youmust be wary of Wall Street and
and and and the marketingmachine and the media.
The media is horrific in thiscountry.
If you really want to get if youreally want to get good uh
financial advice, subscribe tothe Financial Times out of
London, okay?
The other stuff is well, youknow, but the some of the
(27:00):
Bloomberg, the journal, thingslike that are good, but a lot of
them do this because most oftheir income comes from the
average from the banks and umluxury goods manufacturers.
So I think really, yeah.
So you know, think for yourselfand um and visit
barryjamestyke.com because theywant to understand what's really
going on.
SPEAKER_01 (27:19):
Um it's Barry JamesDyke.com.
SPEAKER_00 (27:25):
Yeah, BarryJamesDyke.com.
SPEAKER_01 (27:27):
Awesome.
Dyke spelled D Y K-E.
Yes, yeah, yeah.
Huge, I would recommend.
I'm gonna go look at it againright after this.
It's just good advice, and it'sbeen super helpful for me as a
younger person.
And then a lot of our listenersare either like providing care
to seniors, whether it's throughtheir employment or to their
seniors themselves.
So I appreciate you taking time,Barry, and like really educating
(27:50):
us and helping us think forourselves, I guess, more than
anything, is the big takeaway istry to think for yourself and do
research.
So awesome.
Okay, well, thank you.
SPEAKER_00 (28:00):
Thank you so much, Caleb.
SPEAKER_01 (28:01):
Yep.
Welcome back to Senior Care Academy, a help of
the podcast.
Today's guest is Barry JamesDyke.
He's the president of CastleAsset Management, a fiduciary
advisor firm known for holisticmacroeconomic planning.
With over 40 years ofexperience, Barry is a bold,
contrarian voice in finance,exposing Wall Street's hidden
risks, advocating for saferlong-term income strategies.
(00:30):
He's a best-selling author ofThe Pirates of Manhattan.
He has some other books comingout, like um, that's okay.
He's working on some books.
Um, and he's been featured inmajor media and financial
documentaries.
So Barry's research-backedclient first approach helps
(00:51):
individuals take control oftheir financial future with
clarity, truth, andtransparency.
So Barry, thanks so much forgiving some of your time.
SPEAKER_00 (00:59):
Camp, thank you so much for uh uh being letting me
be of service to you.
And um it's great um to connectwith you.
And um you sent me some somesome great questions.
So, you know, if you if you wantme to go ahead with some of
these things, it would bebecause it's yeah, um, it's
focusing on seniors, I'd behappy to.
I think of course, you know.
SPEAKER_01 (01:19):
Well, I just I guess before we jump into that, I'm
curious.
So you've I'll kind of the firstquestion before we get in that
is you got into financialmarkets, um, you've been in it
for over 40 years.
What I assume when you got intofinancial markets, you were
probably like most umfiduciaries and financial
advisors that are like, yeah,all everything that's being fed
(01:42):
from Wall Street, they're allinto it.
So what has changed your view tocreating the Pirates of
Manhattan um and the other booksthat you're writing right now?
SPEAKER_00 (01:53):
Um one of the one of the things which I've learned,
uh Caleb is so much of it's justa bunch of crap.
And um it's it's just it's it'sa it's it's it's it's all so
much of it's propaganda, and itstill is.
And um we're in another bubblecoming up.
There's no question about it.
Uh and um um, you know, and Ithink it I hate hopefully I'm
(02:17):
not, but I I fear this is gonnabe worse than than 2007, 2008.
Um last time we had uh last timewe had um subprime mortgages
were blowing up.
This time it's gonna be privateuh credit, it's gonna be uh uh
private equity, it's gonna bethings like um uh net asset
value loans and um continuationfunds and all this other crap.
(02:40):
And um it's um one of the thingsI've learned is really you have
to uh believe in thefundamentals.
I mean, you're you're Utah, butI'm you know, um I think now
more than ever, I think peoplehave to really um um look at
what is the right thing to doand also use common sense.
Yeah, that does that that thereseems to be no common sense in
(03:01):
Wall Street or in the media, youknow?
SPEAKER_01 (03:05):
Yeah, that's that is I mean, over 40 years of
experience diluted down of justlike you've gotta it boiled down
to common sense, but like Isaid, common sense isn't super
common sometimes.
Um what over your 40 years isone mistake that you wish that
your younger self could haveavoided, or that I mean, for
(03:26):
somebody like myself, gettingmore I'm just in my um late
twenties, you know, more intofinancial stuff.
What would be the biggest thingfor me to try to avoid?
SPEAKER_00 (03:38):
I think people need to know how banking really
works.
I think that I wasn't really Iwasn't able to become a
best-selling author and sold mybooks politely.
Go to people and go to BarryJamesDyke, by the way.com if
they want to pick up any ofthese books.
Um and I've sold 45,000 copiesof the books, literally through
word of mouth in 23 countries.
But I I couldn't be a servicecable until I figured out the
(04:01):
banking system.
That's interesting.
And until I understood thebanking system, I really didn't
understand finance, and and Ididn't understand how the
Federal Reserve worked and allthat other stuff.
And and I'm not being umconspiracy theorists or
whatever, but until I understoodthe actual mechanics of it, um
and how central banks work andhow they um they essentially um
(04:24):
uh create massive inflation, I Ireally couldn't be of service.
So so so that's it.
So I think really one of thethings uh which I older people,
believe it or not, do notunderstand this stuff um either
is that um matter of fact, theykind of freak out sometimes um
when I explain that the FederalReserve is not federal, there
are no reserves and and thatbanks can create money out of
thin air.
And if they you know pay backthe money they create out of
(04:47):
thin air, they can repossesstheir assets.
So I think the whole thing isyou know, you gotta have a good
offense in life, but I think oneof the first things you really
have to have is to have reallygood uh uh offense as well.
And I think and um one of thethings which for me anyhow, one
of the most important things ismy life is my faith, you know,
(05:07):
and and and and what I do.
And you know, I couldn't doanything without my uh the grace
of God, and um, you know, it'suh so that's really the most
important things in my life.
But those are just kind of thethings which from 40 years of
experience, and because you knowit it it's criminal now what's
going on.
Um you know, and that andthere's over speculation, and um
(05:31):
your generation cale too, whichwhich kind of frightens me.
Um but it there's too muchgambling going on now.
SPEAKER_01 (05:39):
Interesting.
It's a lot of virtual gambling.
I read something recently thatlike Vegas is slowing down and
shutting down because people canjust jump on their phone.
SPEAKER_00 (05:48):
Yes, well, yeah, that's the whole thing.
Well, see, that's that's whatI'm saying.
And you know, the old sayinggoes, What's the difference
between Las Vegas and Manhattan?
Do you know?
Have you ever heard of that jokebefore?
I haven't heard of that joke.
Well, one's a casino in thedesert, and another one's a
casino on the island ofManhattan.
SPEAKER_01 (06:07):
That's funny.
SPEAKER_00 (06:08):
I know so so the get so the gambling thing I I think
is really important tounderstand, but but that's you
know, um, we talk about thefundamentals now, but the the
the the gambling now in youryour your age bracket, if you
will, is horrific.
And you know, and I've actuallystudied this in the in the UK
because actually they legalizedgambling there, I don't know,
(06:30):
20, 30 years.
Um the suicide rate is very veryhigh.
And and because now you can youcan have a casino on your
smartphones.
SPEAKER_01 (06:39):
Yeah.
SPEAKER_00 (06:40):
So I I so so some of the things which I've learned, I
guess maybe one of the I guessmaybe the uh the thing I've
learned for seniors is really tobe prudent.
I mean, get the fundamentalstaken care of, take, take, get
the groundwork taken care offor, put the foundation down.
All this other stocks, whetherit be NVIDIA stock, whatever, it
could be a fantastic stock.
But a lot of it is it's kind oflike the window dressing.
(07:01):
People that need to get thefundamentals down correct.
They need to get the blockingand tackling together.
Yeah.
Okay.
Until they get that, um, they'renot gonna, you know, they're not
gonna have a uh safe retirement.
And you know, um, I don't know,I I, you know, and it is
luckily, gosh bless me, I dobusiness with people around the
country.
And I actually did just finishoff doing a um pretty large uh
(07:25):
retirement plan for a client andmine in Colorado.
And you know, we we put togetherthe whole thing with structural
guarantees and annuities andthings like that, and they're
gonna be really they're gonna befine.
SPEAKER_01 (07:37):
I love that.
That's awesome.
I'm speaking of less strong andfirm uh investments and gambling
things.
Is there a moment over the 40years that you saw somebody fall
victim, whether it was just apure financial scam or was a
super risky investment, it justhas stuck with you, really
resonated?
SPEAKER_00 (07:59):
I wish it wasn't just one-time occurrence, Caleb.
Um I've seen it happen numeroustimes.
And um and it it's it'shorrific.
And if people understand it whenif they ever open up the
brokerage statements, and no oneever does.
Um but if you open up yourbrokerage statements from any
any brokerage firm you you whatis you're open to what is called
(08:24):
arbitration.
So if you lose money, it'sreally you you you give up your
right to sue.
Interesting.
You know, so so that that's oneof the things.
So I've actually seen peoplewith massive losses, you know,
happen uh numerous times, and Iwish it I wish it wasn't a um I
think I've seen I've seen ithappen a lot.
(08:46):
And when and you understand thegame, and I do, it's rigged in
favor of Wall Street or the uhother banks, and um, and and
there's literally not much youcould do it.
And then if you look at the thethe lawyers, everything's so
lawyered up, Caleb.
Um that uh you you really don'thave much to stand on.
SPEAKER_01 (09:05):
Yeah.
Yeah, that's one of my the thingthat's um with a lot of
financial advisors that I'venoticed is like like you said,
the loss, because they're justgetting like a percentage fee,
the it could perform not great,but they still get paid, and
then you just like lost money.
And so it is interesting thatthere's kind of all those
legalities to be like, hey, giveus all of your money, and you
(09:27):
know, hopefully we do well, buteither way, we're gonna get
paid.
Like those firms are my leastfavorite sometimes.
SPEAKER_00 (09:32):
Well, yeah, and that's the whole that's the
whole model.
Okay, that's the whole modeltoday.
It's all about assets andmanagement, AUM.
Okay, and I'm everyone's gonnamake fees.
I'm I'm not against fees, I'mnot against I'm a capitalist,
okay?
But the whole thing is that thethe the like I had dinner with a
friend of mine, um she was aboutthree or four months ago.
No, no, no, about three or fourweeks ago, excuse me.
(09:54):
And a good guy, and you know,very and I I said, Cliff, I
said, how, you know, how youknow, and he was telling about
something new, and I said,Cliff, you know, I know this
research.
I said, How could you, how couldyou, you know, I didn't want to
embarrass him, but I was like,Sentry, how can you do this if
you really do?
Yeah.
And and a lot of thesewarehouses, whatever, it's just
(10:16):
about as just getting as muchassets under management as you
possibly can, and and making thesale.
And um, and I I understand thatwe all have to sell.
Um but the thing is I think whenyou're dealing with people's
money and their livelihoods andtheir in the retirement plan,
um, you have to take this, youknow, it it's a it's a it's a
it's a privilege and a gift tohelp people with this stuff.
(10:39):
Um but one of the things whichuh I'm very passionate about is
the um um the status ofAmericans' retirees.
unknown (10:48):
Yeah.
SPEAKER_00 (10:49):
You know, if you talk about season retirement, um
one of the things that I thinkwould be interesting to your uh
uh listening audience is thatnow there's a company called
Mercer out of Australia, andeach year they do a uh world
from the calculation of the bestretirement systems in the world,
you know, the top 30 countries.
Actually, they do about 45, butthe only thing ones I look at is
(11:11):
the top 30.
Yeah.
Now we're the number one economyin the world, Caleb.
All right, yeah.
We're the number one capitalmarkets, which means we're the
we you can raise more money inthe United States than anywhere
else.
So we're the number one economy,we're the number one capital uh
um markets uh country in theworld.
Where do you think the US standsin terms of the top 30
(11:34):
retirements?
Let's scale from one to 30.
Where do you think we are?
Number one being the best,number 30 being the worst.
18.
SPEAKER_01 (11:44):
And and really worse 30.
Oh my gosh, that's crazy.
SPEAKER_00 (11:49):
Yeah, we're horrible.
Actually, Mexico, if you canbelieve it.
I and I I I'm not making thisup.
Um and I'll happily send thelink to anyone.
SPEAKER_01 (11:56):
Um, I could link it in the show notes or something.
SPEAKER_00 (11:59):
Yeah, so the yeah, so Mercer, who does this out of
Australia doing this for 16years, by the way.
SPEAKER_01 (12:05):
Yeah.
SPEAKER_00 (12:06):
Um, yeah, we're number 30.
I mean, and and and actually,and which is kind of criminal,
is that um in terms ofintegrity, which I think is you
know the ability to tell thetruth, I think we we we ranked
dead last, if not not dead last,I think maybe number 29 or out
of the 30.
So these are the facts of come,you know, which face a majority
(12:30):
of Americans.
You know, and now of coursethere's always gonna be
exception to that, and you know,and you know if you're ri really
rich, you're gonna have noproblem retirement, okay?
Yeah.
All right, or if you'regovernment employee, um you
know, uh staying government,teacher, whatever, you you're
getting a guaranteed annuities,which are the best way to go.
(12:52):
And all by the way, all the bestretirement systems in the world,
and I've researched this todeath.
Um, the Netherlands, Israel,Iceland, Norway, Switzerland,
they're all they're all the bestretirement systems are all
annuity-based, except for theUS.
So we've got to be able to dothat.
SPEAKER_01 (13:09):
We're number 30, so it's obviously working.
SPEAKER_00 (13:11):
So yeah, so yeah, so so so one of the things we would
so foreseen is like really it'sputting putting uh sink belts
around your money in guardrails,okay?
Because Wall Street and assetmanagers, they're not gonna do
it.
Yeah.
You know, yeah, I and I I thinkyou know, I'm I'm I'm very
grateful, God's blessed me.
(13:31):
I understand this stuff.
Don't ask me how to change theoil in my car.
But I know how these financialsystems work.
SPEAKER_01 (13:37):
Yeah.
What so for the listeners, whatwhen you say like put a seatbelt
around your finances, is thatlike an annuity, or what are the
biggest like hidden risks thatespecially people going into
retirement overlook?
Or people find it.
SPEAKER_00 (13:51):
You know, the first thing we you know, you've got to
care you you've you the firstthing you have to really do is
is have you know the um thebasics taking.
And and by the way, thisresearch, by the way, which in
Fidelity or Fidelity's beendoing this called the four backs
theory that came up with this in2001.
I've honed it.
Um the first thing is you'd haveall your fixed costs covered.
(14:14):
You know, you know, your housingand your and your fuel and all
all your fixed costs, which youknow, with and then you know you
plug in your things like traveland food and all that other
stuff, which you need to do.
So so you give take care ofthese things first.
And and if and and so and peoplesay, well, I don't like
(14:35):
annuities.
Well, I guess you know everyoneeveryone buys them.
Matter of fact, um, you're inUtah, right?
Yeah, is it Zion's Bank Corp?
SPEAKER_01 (14:44):
Yeah, that's kind of the regional bank around here.
SPEAKER_00 (14:47):
Well, you know what, you know what Zion's Bank Corp
did with with their retirementplan?
I don't know.
They bought a big annuity toretire into fixed to fund their
retirement.
Interesting.
Yeah, matter of fact, isn'tZion's, I think it's one of the
oldest state chartered banks inthe country, I think, something
like that.
SPEAKER_01 (15:05):
I think so.
I don't know.
I bank with them.
I probably should know moreabout them.
SPEAKER_00 (15:09):
Oh, really?
Okay, so yeah.
So but it's all true.
So so anyway, so your own yourown bank had actually bought a
new one to fund the retirementsystem.
And um, but this would be comingout the other researchers uh put
together.
So again, there's no panacea.
I think you know the the firstthing is you know, I always tell
people I have my five F's forseniors, and I really can give
(15:32):
them every anyone.
I like it.
And my five S, do you want tohear them?
SPEAKER_01 (15:36):
Yes, please.
SPEAKER_00 (15:37):
Well, my first the five S essentially is my faith.
My faith is the most importantthing in my life.
You know, they did a question ofmy belief in God.
Um, I call him Jesus Christ orwhatever.
So that's really the mostimportant thing.
I couldn't do without my faith.
Life is too hard for everybody,all right?
SPEAKER_01 (15:54):
Yeah, it's it's hard to stay grounded without
something.
SPEAKER_00 (15:58):
I don't know how people do it without.
I tried, okay, that didn't workout too well, all right?
Um this time of means family.
Obviously, you know, you know,you know, one of the really the
real joys in this life.
I don't know if you're married,you have children yet or
whatever, but um now obviouslywe we we have to do this stuff
(16:21):
for for um you know our family,you know.
And I it's only for my family,my grand granddaughters.
Um so that's really number two.
And number three is friends.
Um none of us can do any of thisstuff without friends.
I mean, you have I just saw yourengineer with uh Chris or
whatever.
No one can do anything on theirown.
Totally.
(16:42):
Okay, you can do what you dowithout friends and and and
people.
Um the next thing I think isreally, really, really, really
important is fitness.
You talk about um seniors retireand thing on that.
Stay active, okay?
If you rest, you rust.
Yeah.
You know, so um so fitness is avery big part of my life.
I'm pretty regular in the gym.
(17:03):
Luckily, I live in the I live ina beautiful place.
I live on the ocean on the eastcoast.
Um, so um they although it'sgetting dark now early, but I so
you know, so it's a great placeto walk, get outside nature.
And then the last thing isfinances.
So um, you know, it's I think ifyou take care of your faith,
your your family, your friends,and your fitness, I think
(17:24):
finance will fall into place.
And and I think a lot of thethings which if it's with
seniors, I think is reallypreservation, conservation of
capital is really, reallyimportant.
Um, again, I'm not against theuh people who want to invest,
um, but it it it's it's atreacherous flow.
And the thing is, one one of thethings that I've learned is
these banks and these assetmanagers, they make money
(17:47):
whether it goes up or done.
They don't really don't care.
SPEAKER_01 (17:50):
Yeah.
Yeah.
On that note, are there redflags?
Obviously, you don't want tolike poo-poo on on other people,
but are there like red flagsthat whether it's younger people
or seniors, that they shouldwatch for when they're trying to
pick out their advisor or theirfinancial institution um that
they work with?
SPEAKER_00 (18:12):
Um I you know, I said a lot of us comments is I
think if you look people in theeye, I think people are students
of the of the business, okay?
And also having someindependence.
Um because if we generally havea big warehouse, one of the big
warehouses or one of the bigrenowned brokers, they're gonna
(18:32):
push this crap.
Yeah.
And um, so I think you're if youif you possibly can get some
type of independent personbecause the agenda it it is
pushed, and you know, I've I'vesold, you know, all all these
everything you can imagine overover the years, and um I've
(18:54):
learned that you really have toyou know buy yourself when you
buy these products, you have to,you know, be invested in
yourself.
You know, also you have to lookat what's behind the deal.
Okay?
And if people really understandwhat's behind the deal, um and
who's benefiting from it.
Because after after all, youknow, we're here to serve people
(19:17):
in this.
So um so I think you know,integrity I mean is is probably
the most important thing.
Yeah.
Um but it's hard to tell becausepeople, you know, people are
salesmen, and if people believeyou know the markets do go up,
but if you the research I'mcoming out is that to to pick a
(19:39):
diff an individual stock, andand there's it's it's it's very
difficult.
unknown (19:44):
Yeah.
SPEAKER_00 (19:45):
There's actually there's a guy by the name of
Henrik Bessenbinder, he's aneconomist out of um uh people
can Google him on Henry HenrikBessenbinder, he he did about
picking stocks, and it's it isif you understand the the real
numbers behind this stuff, uh hetracks stocks since 1926 to
2019.
(20:05):
It's virtually impossible topick the right winners.
SPEAKER_01 (20:08):
Yeah, yeah.
Trying to actually win in thegame.
There is something that bringsup something um a lot of the
time, obviously compoundinginterest, all those things are
very real, um, and verypowerful.
There's the thing that um isalways interesting to me when I
talk to different advisors isthey're like, if you put this
(20:30):
in, it'll grow you know 7% everysingle year.
But then they're like, they'redoing it over a hundred year
span.
I'm like, well, I need to pullthe money out in 30 years.
And if you did 30 years fromlike we're still up from 90s
till 2020, if I just if I wasleft money, but then you know,
2008 and then the spike in 2021,it's just interesting.
(20:51):
The it's gonna grow no matterwhat, guaranteed.
7% per year is always aninteresting kind of thing to me.
Um, but I like those two thingsthat you mentioned of like one
is integrity, if you can findthat, and then independent,
because I've also experiencedthat with people that are housed
specifically with just one firm.
Especially like at the bottom ofthe rung.
(21:12):
They have their things that theyhave to sell, whether like you
need them or not.
Um and a lot of the time whenyou pull back the covers, you're
like, oh, it's not a very uhpretty site.
They just have to tell how theyget up the chain.
SPEAKER_00 (21:27):
It's not, and you know, uh because a lot of this
stuff is and I have got someI've got I've got the actual
reports on this.
Um one's done by CliffwaterAssociates out of uh Marina Del
Rey, California, and the otherone's out of done by Piscatica
Research out of uh Portsmouth,New Hampshire, and they
calculated all the returns.
(21:49):
You couldn't make this stuff up,Caleb.
All the long-term returns onpension funds.
Now, the that's really one ofthe only reasons we can we can
measure because uh it's a fixedobligation in time.
In other words, they have to paya certain amount of money.
And what Cliffwater found, andwhat Piscata research found, and
(22:11):
they were doing this totaltotally independently, is that
the 30-year returns oninvestments were almost
identical to treasury bills.
Maybe maybe within five, tenbasis points, okay?
So again, you know, and theseare pension funds like I don't
know, Utah has in Utah orCalifornia, Calipers and
Calstridge, which is you'reyou're next to California,
(22:31):
right?
Can you talk next to California?
SPEAKER_01 (22:32):
Uh I've gone to California a lot, or a few
states over, but I've been therea lot.
All right.
So they're the two largest uhpension funds in in the world.
SPEAKER_00 (22:40):
And and so my my point is if you if you look at
the real rates to return onthese giant pension funds, they
pretty much mirror what a30-year treasury bill is.
It's really kind of it's kind ofspooky.
But when you see the what asales job, Wall Street's done.
(23:02):
You know, it's you know, it'sjust you know, and and the thing
is when you understand that thebanks really aren't accountable
for everything.
Um when you look at what wouldreally happen during 2008, and I
have, um these banks were neverheld accountable.
Um they were big they wereallowed to become bank holding
companies and get TARP money, uhcouple asset relief program
(23:25):
money.
And then they were getting, youknow, uh spaces of free cash
from the um from the FederalReserve.
And this is all fact.
I got it from the governmentaccounting offices.
Wow between, you know, betweenuh Morgan Stanley and uh Burrow
Lynch and uh Bank of America anduh Cindy Group.
(23:45):
You know how much they you knowhow much they they borrow from
the uh from the Federal Reserve?
SPEAKER_01 (23:49):
Oh, it's probably a gross amount.
Eight trillion.
Jeez, that's insane.
SPEAKER_00 (23:57):
Yeah, so the thing is that you know, if Caleb,
you're you're a small businessperson, okay.
If you if you screw up, no one'sgonna bail you out, okay?
But this is but this is this isthe truth.
And I testify in court and allof this stuff.
And but yeah, and and then Ididn't come up with this
research.
It was actually Bernie Sanderswho did this, who we say we do
(24:20):
well about Bernie, you know, buthe pulled this uh GAO report
together in the Federal Reservefound documented that you know
these banks between just fourbanks that pull out you know
eight trillion and eighttrillion credit.
That's Goldman Sachs pulledpulled out eight hundred and
fourteen billion from uhDecember of 2007 to July of
(24:45):
2010.
Wow.
Wow.
Not making this stuff up.
So the whole thing is if it iffor your listeners out there, if
it sounds too good to be true, Idon't know what your folks told
you, but generally if somethingsounds too good to be true, it
generally is.
Yeah.
And so, so um, so and and andand I think quality too, I think
(25:06):
is well, quality never goes outof style.
SPEAKER_01 (25:09):
Yeah.
SPEAKER_00 (25:09):
You know, and you know, I I you know, I I like
nice stuff and they be and goodquality will last.
SPEAKER_01 (25:17):
Yeah.
Like that.
Barry, we're this has gone by.
It's super interesting, and Iwish we could keep talking.
The last question, I guess, thatI have is kind of for the senior
demographic.
If you could give one because Ithink a lot of the people, the
seniors that I talk to,especially, if they didn't lay
the groundwork in their 20s and30s, they're feeling hopeless.
Is there like one actionableitem that seniors could try to
(25:41):
take today to protect theirfinancial future?
Well, print first, but um Yeah.
You know, yeah.
Family, friends, fitness first.
And then a financial thing.
SPEAKER_00 (25:54):
Friend first, really, because you know the the
the we we are in a hugeretirement crisis.
There's no question about it.
Um I I you know, don't panic,just do you know, one day at a
time, I guess.
I think really you have to andif people have any questions
about it, they can email me orthey can get through my website.
I I answer people and I just getone.
(26:17):
That's awesome.
Uh and I I and I'll reach out.
People reach out to me, I'llreach out to them still as long
as I possibly can.
Um there's always hope.
I mean, we still live in agreat, great country, you know,
and um but you have to take youhave to take control of it,
okay?
And um you have to look outwhich which is best for you.
(26:38):
And um, you know, and you youmust be wary of Wall Street and
and and and the marketingmachine and the media.
The media is horrific in thiscountry.
If you really want to get if youreally want to get good uh
financial advice, subscribe tothe Financial Times out of
London, okay?
The other stuff is well, youknow, but the some of the
(27:00):
Bloomberg, the journal, thingslike that are good, but a lot of
them do this because most oftheir income comes from the
average from the banks and umluxury goods manufacturers.
So I think really, yeah.
So you know, think for yourselfand um and visit
barryjamestyke.com because theywant to understand what's really
going on.
SPEAKER_01 (27:19):
Um it's Barry JamesDyke.com.
SPEAKER_00 (27:25):
Yeah, BarryJamesDyke.com.
SPEAKER_01 (27:27):
Awesome.
Dyke spelled D Y K-E.
Yes, yeah, yeah.
Huge, I would recommend.
I'm gonna go look at it againright after this.
It's just good advice, and it'sbeen super helpful for me as a
younger person.
And then a lot of our listenersare either like providing care
to seniors, whether it's throughtheir employment or to their
seniors themselves.
So I appreciate you taking time,Barry, and like really educating
(27:50):
us and helping us think forourselves, I guess, more than
anything, is the big takeaway istry to think for yourself and do
research.
So awesome.
Okay, well, thank you.
SPEAKER_00 (28:00):
Thank you so much, Caleb.
SPEAKER_01 (28:01):
Yep.
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