April 4, 2025 • 43 mins
- If you have any questions please contact Asset Growth Associates Tax & Retirement Advisors located at 1391 Calder Avenue in Beaumont. You can also email info@savemyretirement.com or phone (409) 840-6900.
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Episode Transcript
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Speaker 1 (00:00):
We're just trying to turn a bachel in what that's
the bottom line.
Speaker 2 (00:11):
Welcome to real honest talk about money, politics, news and
information you can actually use. Buggle up and hold on tight.
This is that's the bottom line.
Speaker 3 (00:27):
The best thing in life of but you can give
them to the bath.
Speaker 4 (00:33):
And b.
Speaker 3 (00:37):
That's what.
Speaker 4 (00:40):
That's Good morning, everybody. This is that's the bottom line.
Your weekly radio broadcast that toast it like it is
on news talk radio a M five sixty KLBI. We
air at six in the morning on Saturday and Sunday
mornings at eleven. We also welcome those of you tuning
(01:04):
in on the iHeartRadio podcast or through our website at
Saveiretirement dot com.
Speaker 5 (01:11):
You can call us toll.
Speaker 4 (01:12):
Free at eight sixty six Save My Retirement, or locally
at four zero nine eight for zero sixty nine hundred.
I'm Jeff Lewis, an investment advisor representative at Assey Growth Associates.
We have offices located in Dallas and right here in Beaumont, Texas.
We've been servicing our clients in Texas and Louisiana for
(01:33):
several decades now with investment penson and retirement planning services.
We also help our clients with personal and corporate income
tax preparation, including representing those who may be having difficulty
with the IRS. We also assist retirees with their medical
insurance options as they transition onto Medicare. Later on this episode,
(01:55):
we'll be talking with John Carava, our in house tax expert.
As usual, we've got the great Gene Valerani telling us
about ways you can earn market level returns without the
market risk. But first, our top line story this week
is the upcoming elections here for the City of Beaumont.
This show has reached out to each candidate for mayor
(02:18):
and city council for the upcoming general election on May third.
I'm excited to announce that we've heard back from almost
every campaign and that most of the candidates on the
ballot have agreed to appear for an interview on this
show in the upcoming weeks. I'll be posting on Facebook
the days the candidates will air. Once we finalize the schedule.
(02:38):
The first of these candidates will be with us this
week in our very next segment. I want to take
a few moments during this segment, however, to explain to
our listeners the parameters of these interviews. First, each candidate's
campaign was contacted individually with an opportunity to schedule an interview.
For those few we have not yet heard back from,
(03:00):
we are making additional attempts to reach them, but the
deadline we've said is approaching. We cannot promise that every
candidate will agree to appear on this show, but will
not be from our lack of trying. Secondly, each candidate
will receive one segment on our show, which provides equal airtime.
Since most interviews will likely exceed the allotted time, we
(03:23):
will be editing the content that fill the slots, but
will do nothing to distort the clear intent of the
candidate's message. Further, we will be making the full interviews
available online for you to listen.
Speaker 5 (03:37):
To if you so choose.
Speaker 4 (03:39):
Each campaign is also being offered the opportunity to record
this session privately for the purpose of veracity. To be clear,
we are not doing this for partisan purposes. Although I
freely admit I'm highly opinionated, I will do my best
to remain as neutral as possible as I can throughout
this process. The sole intent is to give you, the listener,
(04:03):
a platform to make an informed decision about this election.
I will at times offer a counterpoint to a candidate's argument,
particularly if one candidate decides to attack another, but I
will not be promoting nor endorsing any candidate in this race.
I have no personal ties to anyone in these races.
(04:23):
While I've voted for a few of them before and
even met a couple of them personally, I'm actually still
an undecided voter myself, and I will be listening intently
just like the rest of you. I believe that is
my responsibility to the listeners of this show to remain
as neutral and fair of a moderator as possible. I
am extending this policy of neutrality to any guest who
(04:44):
we interview on this show, both in this cycle and
hopefully in future election years to come. However, this policy
will only extend the candidates who agree to an interview.
It is my firmly hell belief that all candidates oh
are responsible to the public to make their opinions available
to voters. And while we're not so arrogant as this soon,
(05:05):
that means you have to use our platform here on
That's the bottom line. My position is that if I'm
not allowed to interview, then I'm at least allowed to critique.
That said, each campaign has been notified of potential topics,
so they could be prepared in advance. There's a wide
range of subjects we can talk about, and I don't
believe in blindsiding people. Some topics could be repeated to
(05:28):
multiple candidates. Other topics may be specific to a particular contest. However,
the questions I'm asking have been seen by no one
else but me, period It is my intention to have
guided conversations with these candidates about relevant topics. I'll ask
pointed questions, but I will not be attempting to play
gotcha with anyone. Finally, I will be interacting with these
(05:52):
candidates from my own personal perspective. Like every other resident here,
I live here too, and ill and to ask questions
on the issues that I care about personally. These people
want to represent me, and a lot of the topics
will discuss or issues that affect me personally, as well
as my family, my parents, my grandma, my friends, people
(06:15):
I worship with, people I work with. I have never
made any attempt whatsoever to hide my particular political leanings,
make no mistake, But in this day and age, with
the way the media acts in the political realm. I
think it's more important than ever for people to have
a full understanding of the person moderating and providing content.
People aren't neutral by nature. They have innate biases, preferences,
(06:39):
and faults, and to expect otherwise its faulty. That includes
peoples in the news business, whether it's national or local,
and certainly those of us hosting podcasts. What I'm saying
is always consider your source. And that's why I want
to take a moment to personally introduce myself again.
Speaker 5 (06:58):
My name is Jeff Lewis.
Speaker 4 (07:00):
I'm forty four years old, white male. I grew up
in Hardin County. Graduated high school up in Warren, Texas.
Shout out to my Warrior peeps. I moved here after
a house fire in March of my senior year, and
I've lived in Baumont for twenty seven years since. I
have two undergraduate business degrees and accounting of finance, plus
a master's in public administration, all from Lamar University. In
(07:24):
addition to my work here at pass At Growth Associates,
I'm also a football and basketball official. And chances are
you've probably yelled at me somewhere before around here and
that's okay, no harm, no foul. I've been married for
over eleven years to my epic wife, Alicia. We don't
have kids, but we got three gorgeous Burman cats, and
if you're friends with me on Facebook, you see those
all the time. I was an only child, but we
(07:46):
do have a niece and nephew on her side of
the family. I'm also an Evangelical Christian. My wife and
I are members of a local Baptist church, and I'm
serious about my faith in relationship with Jesus Christ. That
doesn't mean I aim got flaws. I've been known to
cuss like a sailor. But you know I'm not perfect,
just forgiven. And if you haven't figured out yet from
(08:07):
my last month of posting on this show, politically, I'm
a conservative with a populars streak, I'm also a strict constitutionalist.
Speaker 6 (08:18):
Now.
Speaker 4 (08:19):
I said all that to say this, All these traits
and experiences factor into formulating my own opinions. Each person
will have on this show in the next few weeks.
They've all got their own subset of traits and personalities
that I may identify with or may be completely different
(08:39):
than my own. I will likely personally agree with some
of these candidates and vehemently disagree with others. You have
my frame of reference now, so draw your own conclusions,
regardless of what anyone else, or what I think, or
anyone you ever talked.
Speaker 5 (08:58):
To make your own opinion. The bottom line is.
Speaker 4 (09:01):
This, we hear at Asset Growth Associates care very much
about the future of this city and the direction we're heading,
and we'll do everything we can to help. So coming
up after the break, we'll be back with mayoral candidate
Jude Peretis. He's a citizen of the first Board running
for mayor for the fourth time. I'm Jeff Lewis, and
(09:24):
you're listening to that's the bottom line on news talk
radio AM five point sixty kl v I.
Speaker 1 (09:31):
We're just trying to turn a nickel into a dime.
Speaker 3 (09:34):
That's the bottom line.
Speaker 7 (09:38):
The power to tax is the power to dispoy it.
Taxes affect your paycheck, your plans, not even your peace
of mind. But this tax season leaves the stress to us.
This is gene vaaleraniat Asset Growth Associates. We make filing
income tax returns simple, ac and stress free. If you're
(10:02):
fifty year older, you could qualify for a low price
of ninety nine dollars to file your return. So when
it comes to your taxes, every detail matters, every time.
Call us four O nine eighty four oh sixty nine
hundred er visit Savemretirement dot comm do it today. Taxes
(10:25):
are everything, Let's make them work for you. Are you
thinking about starting your Social Security benefits early? Before you decide,
let's talk about the big picture. Claiming benefits before your
full retirement age, whether it's sixty six, sixty seven, or
(10:46):
somewhere in between, can reduce your monthly income by up
to thirty percent. That could mean thousands of dollars less
every year, and once you start, there's no going back.
Here's the unintended consequence. That smaller check could limit your
ability to enjoy retirement, cover healthcare costs, or leave a
(11:10):
legacy for you and your loved ones. And if you
live longer than you expect, those reduced benefits might not
be enough. But don't worry. We're here to help. At
Asset Growth Associates specialize in creating smart strategies for Social
Security and retirement income. Will help you maximize your benefits
(11:35):
and secure your future. Call four oh nine eight four
oh sixty nine one hundred today or visit savemyretirement dot
com for your free social security analysis. Let's make sure
your retirement works for you, not against you, plant smarter,
(11:57):
retire better.
Speaker 8 (12:00):
If you owe the I R S five thousand dollars
or more, don't call an unknown eight hundred number. Instead
personally meet with us to review your IRS problem. And
if you want to pay the I R S nothing
or less than you owe, we can set up a
fresh start agreement with the I R S. We can
(12:22):
help you. Ladies and gentlemen can call us whole free
at one eight six six seven two eight three six
nine seven.
Speaker 1 (12:30):
We're just trying to turn a nippel into one dime.
Speaker 9 (12:34):
That's the bottom line, PROLA. People can't even walk the
street window bot meat.
Speaker 4 (12:58):
On Welcome back to That's the bottom line here on
news talk radio AM five sixty KL The I and.
Speaker 5 (13:11):
On our podcast via iHeartRadio.
Speaker 4 (13:13):
Hey everybody, I'm Jeff Lewis with Asset Growth Associates.
Speaker 5 (13:16):
Again.
Speaker 4 (13:17):
You can visit us at savemyretirement dot com. If you
live here in the Golden Triangle, you can call our
local number four oh nine eight four zero sixty nine
hundred or just as good toll free at eight sixty
six save my retirement. Sitting with me today is a
candidate for mayor, mister Jude Perettas tax cut Perettas.
Speaker 5 (13:36):
So you can start, I guess by telling me where
you get that nickname A Why.
Speaker 6 (13:39):
They wouldn't let me use that in the last time
we ran. You know, I had run before three times
before they mentioned They mentioned on palund twelve every every
time that a mayor raises the taxes, and that just
gets me fire it up and I go file to
run for mayor myself because my thing is, Hi, taxes
(14:01):
are not good for business here in Beaumont, so we
want to keep the tax rate at least maintain it
at the same level without increases and even decreases. I
know nobody's ever heard of a tax cut, but it
could be done, I think.
Speaker 4 (14:15):
Okay, well, my question on that is con yourself tax cut.
How are you cutting taxes when you're primarily campaigning on
cutting spending not revenue?
Speaker 6 (14:27):
Right? Okay, tax cuts would be my nickname that, Like
I said, they would not let me put that I
wanted to put on the ballot because they ask you
when you file, they're like, well, what's your nickname? When
I wrote in tax cut, Well you can't have political slogan, Yeah,
your nickname? So that what's doing? But like I mentioned,
(14:49):
mostly maintenance of the same tax rate. At least that
way your businesses can get adjusted to whatever the rate
is and it's not going to suddenly go up, which
you know that disrupts what you're trying to do.
Speaker 4 (15:00):
Okay, See you are concerned with the revenue side is
additional to the spending side that we've talked about a
little bit in the media.
Speaker 6 (15:06):
Okay, And I had mentioned this to you. There's a
project in the works and they're really going after it.
I've heard. I talked to some of the city council
members and they're like, now, we're not We're not going
to do one hundred million dollar project.
Speaker 5 (15:20):
That's just a you're talking about the riverwalk project.
Speaker 6 (15:22):
Right, Yes, what I call the canal now to nowhere I.
Speaker 4 (15:26):
Like to think, by the way, So, and that's supposed
to run an estimated you know, one hundred to one
hundred and fourteen million, depending on who you check out
the site.
Speaker 5 (15:33):
I mean, it's only a fourteen million dollar variance coring out.
Speaker 4 (15:35):
Loud who cares right so on that I was looking
up with we got potential improvements they're saying would include
a new city hall. I'm not sure how that's an
economic improvement, but thank you. Never mind, a two hundred
space parking deck at the Civic Center, another one, another
one at the new Riverwalk, which of course is a
(15:57):
new feature into itself.
Speaker 6 (15:59):
There'd be a entire for the hurricane to destroy the
whole thing, like.
Speaker 4 (16:04):
Uh, you got a new hotel, convention center upgrade, and
then they're talking about two private developer contracts, So one
hundred fourteen million, how do we pay for it?
Speaker 6 (16:13):
That's what I'm saying that needs to be halted. The
whole project, the downtown river Walk project, or as I
call it, the canal to nowhere, must be halted. And
as I was driving here to your office, I'm driving
through construction barriers, the whole roads torn up everywhere, and
we need to we need to stop with the new
(16:35):
projects and the excess is spending and complete what we've
already started. Let's get our roads fixed and finished that up.
Get the sewer lines running. See you know, some people
can flush the toilet and keep the water mains from
the old ones need to be replaced before they bust.
And you had mentioned water. I mean I've seen mains
(16:57):
that just bust open, so that all that needs to
be maintained.
Speaker 4 (17:00):
Yeah, I mean, and they're running in a bunch of
different areas where I mean, the city isn't getting to
them for weeks. I mean, so, I mean that's just
running in the streets and back in through the draine. Now,
you you said that you want to save tax payer
dollars by focusing on the upkeep of the existing infrastructure
as opposed to investing in new street and drainage projects.
Speaker 6 (17:22):
Right, But what we're already doing, and then we can
do some you know, I mean, if the people want
the river front and walk, then they should have it.
But that's going to be twenty years down the road.
Right now, we just need to finish what we've already done.
Speaker 5 (17:36):
I understand.
Speaker 4 (17:37):
But let's take some of the more recent drainage products
that you've at least I understand that you have been
critical of some of these drainage products. I mean they've
been critical since we've had you know, the last couple
of hurricanes Harvey, Milda, all the rain we've had here.
They yeah, they've of anythings that's been done since there
has protected us against further flood damage to resident poverty.
(18:00):
So when you consider those to be critical projects as
opposed to Okay, if the.
Speaker 6 (18:06):
Funds are allocated and we budgeted for it, let's do it.
It's not like with President Trump, where there's funds allocated
but he doesn't want to spend the money. The funds
are allocated, so let's spend the money and do that
we allocated. Let's not have new projects because they're trying
to float one hundred million dollars bond right now, and
(18:26):
they'll say, no, we're not a twenty years No, they're
doing a bond committee right now trying to close this box.
Speaker 5 (18:32):
So let's just just reiterate that. So get this straight.
Speaker 4 (18:36):
The city right now wants to borrow another one hundred
million dollars.
Speaker 10 (18:40):
Okay, how much that do we already have? The debt
of the city is in the range of two hundred
to three hundred million dollars. Yeah, that's exactly right. I
actually pulled numbers up this morning just to run that.
I pulled up the budget and took a look at it,
and you know what we're spending extraordinary amount of money
(19:02):
and debt we're at I think the going from memory here,
I think the number was closer to two thirty million.
Now that kind of freaked me out because I'm looking
at this and we pay seventeen cents on one hundred
right now.
Speaker 5 (19:14):
For debt in the city.
Speaker 4 (19:16):
Okay, that's our tax rate, and you take the property
taxes and all that seventeen cents of.
Speaker 5 (19:21):
That has to do with debt.
Speaker 4 (19:22):
That's on top of the sixty cents you know, sixty
plus cents that we already pay for city taxes.
Speaker 6 (19:29):
Okay.
Speaker 4 (19:30):
Now, obviously you have other tax built like school taxes
and all that stuff. We can talk about bis to
get another day.
Speaker 6 (19:36):
But I don't get why does the drainage district charges
the tax because they sell they get the water for free,
it range down into the canal, then they sell it
to the former. So why do we pay a drainage district?
Speaker 4 (19:48):
Well, you know, on that note, we pay a lot
of taxes for a lot of different purposes, and we
don't always know where the money's going. But my question
is to you, do we have a revenue problem in
the city of my mind, or we have a spending problem?
Speaker 6 (19:59):
I think the city is viable financially.
Speaker 5 (20:02):
I believe that we were three and a half million
deficit this past year.
Speaker 6 (20:05):
That's true. I believe that our revenues and expended truth
can balance. It just takes the willpower to do well.
Speaker 4 (20:12):
Sir, I do thank you for coming in and talk
to us. Hopefully one time sometime, even if it's outside
the campaign. We'll have you back sometime just to sit
around shoot the bull because it's been a lot of
fun doing it.
Speaker 5 (20:22):
So okay, thanks, we sure have we.
Speaker 4 (20:25):
Sure have enjoyed it, and uh we'll be uh, we'll
be right back coming up next.
Speaker 5 (20:29):
I'm back with John Kava.
Speaker 4 (20:31):
I'm Jeff Lewis, and you're listening to That's the bottom
Line on news talk radio AM five.
Speaker 1 (20:38):
We're just trying to turn a necke into a dime.
That's the bottom line.
Speaker 7 (20:45):
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nine eight four oh sixty nine one hundred or visit
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Speaker 11 (22:03):
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Speaker 7 (22:42):
Dot com?
Speaker 1 (22:43):
We're just trying to turn ankeel into a dime. That's
the bottom line.
Speaker 4 (22:49):
We're back with That's the bottom line here on news
talk radio AM five sixty KLVI and on iHeartRadio again,
I'm Jeff Lewis. Remember for any of your investment, tax
or medicare questions, we'll be glad to talk to you.
Here at Asset Growth Associates. You can call us toll
free at eight sixty six Save my Retirement or if
(23:11):
you're local here in Southeast Texas at four oh nine
eight four zero sixty nine hundred.
Speaker 5 (23:19):
John Krave has joined us.
Speaker 4 (23:20):
Now you're not a regular listener of the show, John
is our resident tax expert here at Asset Growth Associates
with an office ten feet from my door.
Speaker 5 (23:27):
And John, it's always good to have your own.
Speaker 12 (23:30):
Well, thank you, Jeff. And today is the magic thirteen
days before the first deadline for filing your income taxes.
Speaker 5 (23:38):
Okay, So April fifteenth is coming up quick, right.
Speaker 12 (23:41):
Tuesday, second Tuesday, or Tuesday after this, coming Tuesday, So
it's coming quick. And if you're not quite ready, remember
you can always file a six month extension that would
be until October fifteenth, but you need to file that
extension before the deadline of April fifteen. Teenth and we
(24:01):
can help you with that.
Speaker 5 (24:02):
So you mean I really don't have to pay any money, yet.
Speaker 12 (24:04):
You need to pay money if you owe money? Well,
how do I know if I owe money? If you
owe money last year, our computer program and myself will
be able to tell you that you would need to
pay ninety percent of that with your extension to keep
the irs happy. If you had a refund last year, No,
(24:26):
you don't owe any money. You just to own extension.
Speaker 5 (24:29):
As long as I had zero return or a.
Speaker 4 (24:33):
Refund or some kind like that, I don't have to
worry about paying the quarterly minimum.
Speaker 12 (24:38):
Absolutely, okay.
Speaker 5 (24:39):
So that's good today? Is okay? Well maybe I'll be
okay next year? So all right, so talk to.
Speaker 4 (24:45):
Me a little bit about whether you got a lot
of people itemizing this year if they should be using
standard deduction.
Speaker 12 (24:50):
My standard deduction happens to be one of the beautiful
things that has happened to the tax code since twenty seventeen.
That was when Trump took That is exactly right. That's
when the Jobs Act came in to affect Themness is
all part of that. At that time, it used to
be that single people had a twelve thousand dollars standard
(25:11):
deduction and married people had twenty four thousand, So it
was conceivable to have enough sales receipts, medical bills, property
tax payments, et cetera to exceed those thresholds. And so
that's when you came in with your shoe box full
of information and we went through it. Now it's increased
(25:31):
this year, where a single person is fourteen thousand, six hundred,
married couple thirty two thousand and five hundred, it's tough
to find sales receipts and property taxes did exceed that.
So you have a situation where if you have a
W two, which taxes are taken out of W Social
Security or an IRA, and you take the standard deduction,
(25:54):
there is no reason the IRS will ever audit you
because you're taking what they offer and your income statements
have been filed by your employer or your investment house.
Speaker 4 (26:08):
Well, you know, it's kind of funny you mentioned that, because,
I mean, when I was doing my taxes this year,
I had a ten thousand dollars surgery last year and
I still didn't even come close to being able to
atomize by the time day factor in the married filing
jointly standard deduction. I was stunn because I thought, for
sure I'll be automizing, and here I am.
Speaker 5 (26:25):
You know, not right.
Speaker 12 (26:26):
That's that's the unfortunate part of the tax code that
your medical expenses are not dollar for dollar deductions. It's
based on your agi, your just and gross income. Once
you know that number, you take seven and a half
percent of that whatever that number is, say fifty thousand
dollars time seven and a half, that's about thirty five
(26:48):
hundred dollars. Any expenses over thirty five hundred dollars will
be deductible on your schedule A that that thing.
Speaker 4 (26:54):
Under that is that is a change I like to
see myself because you know, just thinking about it, if
we spend a whole bunch of medical I mean, in
my opinion, that ought to be dollar for dollar, which
is kind of hard to prove, at least for major
events like that. We're gonna have some politicians on over
the next couple of months. Maybe we talking about it.
But you know again, uh, you've also talked a little
(27:16):
bit around office here about IRA penalty. So talk to
me a little bit about if you're not getting your
ten percent withdrawal in on time, what's the impact on that.
Speaker 12 (27:25):
Well, this has something to do a little different than that.
I had a client come in the other day that
I took an IRA withdrawal because it was offered to
them due to Hurricane Burrell. Okay, And because of Hurricane
Burrow it was presidentially declared the disaster even down here.
(27:46):
So if you took an Iron withdrawal because of Hurricane
Burrell to do some repairs, we can forgive that ten
percent early withdrawal for you under fifty nine and a half.
Speaker 5 (27:55):
Okay, So did you actually have to do it for
that or is that a wink wink? I did it
for no.
Speaker 12 (27:59):
No, there's a femic code to sign, okay, a sign
of the hurricane Borough.
Speaker 4 (28:04):
You don't want to budge that one at all, right,
you want to have the right information.
Speaker 5 (28:08):
Okay, good deal.
Speaker 4 (28:09):
So you know, we actually talked a little bit about,
you know, just from a dog standpoint this past week,
and I think you've brought to my attention apparently our
local IRIS tax office over into old energy building that's
getting closed down now, right, I.
Speaker 12 (28:27):
Had updated news on that, Okay, Right, I did some
diggie and I called up the building down there to
find out what was going on, because I'd been down
there a few years ago and you could walk in,
you could work with an IRS.
Speaker 5 (28:39):
Person, But then that was gone, and I found out
that that.
Speaker 12 (28:44):
I was worried that the office was empty and we
were paying one hundred and fifteen thousand dollars here for
an empty office. But I find out that it's full
of IRS auditors doing backroom work. Okay, kay, so you
want to do something in face, you're going to Lake Charles,
fur Houston.
Speaker 6 (29:00):
Okay.
Speaker 4 (29:00):
So that's just the closet work exactly, numbers, countries and
all that stuff what I call the nerdery.
Speaker 5 (29:07):
Right, I brought it.
Speaker 12 (29:09):
I called up Randy Weber's offers, Congressman Randy Weber to
clarify that, and found out that's the truth, and made
my simple plea that it would be nice being the
metropolitan area sizee we are to have a walking office
would certainly simplify my life, right and taxpayers on their own.
But it's not the case right now, yeah, because we're
(29:30):
not pounding fife hundred and fifteen k down a rant hole, right,
because I.
Speaker 5 (29:34):
Mean, next close the office, really, what is Lake Charles?
Speaker 4 (29:38):
So I literally have to leave the state or am
I view of the country to be able to get
over there right with an appointment. Yeah, with an appoint
you can't just show up. So last thing, let's let's
say you do get a foul the RS. You know,
you screwed something up, because it's easy to do, especially
to do it on your own. But what kind of
situation do you What do we do around here to
(29:59):
be able to help you settle.
Speaker 12 (30:00):
Some of that? Yeah, A couple of things that we've
done successfully is put people on installment programs with the IRS.
Well you'll pay for X number of months X number
of dollars to satisfy the debt. Of course interest druns
the whole time, or in some extreme cases, we were
able to settle the debt for less money than old
(30:21):
called an offering compromise.
Speaker 4 (30:23):
All right, Well, we'll be talking to you again real
soon here before we get out. Coming up next, Geene
valeranius here with this week's solution segment. I'm Jeff Lewis,
and you're listening to That's the bottom Line on news
talk radio AM five sixty KOVI.
Speaker 1 (30:39):
We're just trying to turn a neckel into what that's
the bottom line?
Speaker 7 (30:46):
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Speaker 4 (32:04):
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Speaker 5 (32:29):
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Speaker 1 (32:57):
We're just trying to turn a neckel in do what
that's the bottom line.
Speaker 7 (33:03):
This is gen Valerati with today's solution make America wealthy again.
President Trump told an assembled audience that included auto industry
union workers a few days ago. The President's goal is
to bring industry back to the United States instead of
(33:24):
having our manufactured products and automobiles built overseas and shipped here. Well,
he's created quite a stir, hasn't he. Blue collar workers
seemed to be happy because it means more jobs for
American workers, while Democrats in Congress and the Senate are
(33:48):
acting as if it's the end of the world. I
thought the Democrats were the ones that supported the working man,
not having jobs shipped overseas well. Pick who you want
to believe, Ladies and gentlemen, those who worship solely at
the church of the here and now were those like
(34:10):
Trump who are attempting to make America wealthy again. What
about the year and now. If the markets react badly initially,
that's to be expected. Keep one thing in mind. Keep
one thing in mind, ladies and gentlemen. The markets will
come back, and so will America. And for those of
(34:32):
you in principal protection, I want to remind you that
you haven't lost a dime. So when the big stock
market boom occurs, while many will be playing catch up,
you're going to already be surging ahead. I want you
to keep that in mind, because we Americans are on
(34:55):
the eve of a new awakening as Donald Trump begins
a renaissance in American business here in the United States,
manufacturing business, good paying jobs. Mister Trump never accepted that
Joe Biden won the presidency back in twenty twenty twenty,
(35:20):
so he is now reasserting the dominance of American supremacy
in the world. Listen to me, We're entering a new
period of life in our country, and we're on the
eve of an American resurgence now would be a good
(35:41):
time to invest money and grow nestaches. One path the
financial growth that we still believe to be a good
one is investing money where it can grow without being
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don't have to worry when the markets has a little
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link returns and still remain immune from market losses. Because
that's what we do here at Asset Growth Associates. We
protect nest stapes. These plans that you hear me talking about,
capture market gains, add those gains to your account without
(36:44):
exposing them to losses. When the market has downturns, interest
rates are down and this leaves investors with the rise
of stock prices as the best way to grow an
est steak. But listen to me, you can capture the gains,
add them to your account without fear of losing value
(37:07):
caused by declines on Wall Street. I want you to
come in and talk to us and Asset Growth Associates.
Our phone numbers four oh nine eight four oh sixty
nine hundred. The toll free line is one eight six
six seven two eight three six ninety seven. That's one
(37:27):
eight sixty six Save my retirement, or you can simply
log on to save my retirement and reach us online
as well. With the right planning process, it's possible to
gather in gains without exposure to losses. And if you're
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it earns and is available for withdrawals when you need
cash either per monthly income lumpsum withdrawals flowing back into
your bank, checking or savings accounts. You know, these accounts
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you hear me talk about every week are excellent for
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for current income. And there's an old saying claiming that
the future is now, and that simply means plans we
make available now is what create a more bountiful future.
(38:36):
Once again, the phone number to reach us four oh
nine eight four oh sixty nine hundred or for long
distance callers one eight six six seven two eight, three,
six nine seven, or just log on to Savemoretirement dot com.
Call us to make an appointment and we will help
(38:58):
you secure you your financial life and build a cash
reserve for your future payouts in monthly income or lump
some withdrawals. Remember, ladies and gentlemen, Savemoretirement dot Com. Log
on to it, and while you're there, you can learn
(39:19):
more about us and the work we do for our clients.
You know, there's an old saying the journey of one
thousand miles begins with the first step. Why not make
that first step today by calling us at Asset Growth
Associates four oh nine eight four oh sixty nine hundred.
(39:40):
You call us, make an appointment, come in, we'll share
some ideas with you and simplify your life. As always,
this is Gene Valeradi reporting and bringing you the solution
that you need to know about.
Speaker 1 (39:56):
We're just trying to turn a nickel into a dime.
That's the bottom line. We're just trying to turn a
neckel in too.
Speaker 3 (40:05):
That's the bottom line.
Speaker 4 (40:18):
Thank you for listening today to That's the bottom line
on news talk Radio AM five sixty KLBI plus. To
those of you that tuned in via podcast, through iHeartRadio,
or through our website at Savemyretirement dot com. Again, you
can tune in next time at six am Saturdays or
at eleven am on Sundays. And of course, you can
(40:42):
listen to all of our previous broadcasts anytime any day
on demand online. Again, if you decide to contact any
of us here at Asset Growth Associates, give us a
call at four zero nine eight four zero sixty nine
hundred or toll free at eight sixty six Save my Retirement.
(41:03):
Our physical address in Beaumont is at thirteen ninety one
Calder Avenue, a block from the intersection of MLK and Calder.
I really hope you enjoyed this week's broadcast. We know
your time is important, and that means giving you relevant
information about important issues. That's why we're taking a break
from our usual format and content to provide you with
(41:24):
an opportunity to hear from the candidates themselves.
Speaker 5 (41:28):
Once again.
Speaker 4 (41:28):
We think our special guest this week, Jude Perettes, for
taking a time away from his campaign to talk to us. Remember,
we will be making his entire interview available online in
its unedited form. We look forward to speaking with each
of the candidates in turn, personally, I have great respect
for anyone that has the courage to stand for office.
(41:50):
Without candidates, we have no republic. And though we may
agree with someone or we may not, you can't evaluate
someone you haven't heard. In case you're new to go
into the show, we have a lot to offer here
at Asset Growth Associates, from portfolio management to principal protection,
from tax services to medicare.
Speaker 5 (42:09):
We're here to help.
Speaker 4 (42:11):
If you're about to retire, If you just have an
old retirement account or CD that's been sitting around and
you don't know what to do with it, well we do.
Speaker 5 (42:19):
If you're wanting to be.
Speaker 4 (42:20):
Actively involved in market, our advisory services can help design
a portfolio that suits your risk tolerance and return expectations.
If you're a little bit more tentative when it comes
to being in the market right now, resh assured we
get it.
Speaker 5 (42:34):
You're not alone.
Speaker 4 (42:36):
We've got investment plans that involve zero risk to your principle.
At Asset Growth Associates, we've got the experience and name
you can trust. We know how to handle your money consistently, safely,
and always with your best interests in mind. Remember the
tax deadline is rapidly approaching, so if you need more time,
(42:57):
come get your extension filed. Senior time filings are still
just ninety nine bucks. I'm Jeff Lewis for Gene Valerani
and everyone here at Asset Growth Associates. You are greatly
blessed and highly favored, imperfect and forgiven because it's always
that's the bottom line.
Speaker 3 (43:18):
That's the bottom line.
Speaker 2 (43:21):
You can reach Asset Growth Associates by calling one eight
six six seven to eight thirty six ninety seven are
by visiting savemiretirement dot com
We're just trying to turn a bachel in what that's
the bottom line.
Speaker 2 (00:11):
Welcome to real honest talk about money, politics, news and
information you can actually use. Buggle up and hold on tight.
This is that's the bottom line.
Speaker 3 (00:27):
The best thing in life of but you can give
them to the bath.
Speaker 4 (00:33):
And b.
Speaker 3 (00:37):
That's what.
Speaker 4 (00:40):
That's Good morning, everybody. This is that's the bottom line.
Your weekly radio broadcast that toast it like it is
on news talk radio a M five sixty KLBI. We
air at six in the morning on Saturday and Sunday
mornings at eleven. We also welcome those of you tuning
(01:04):
in on the iHeartRadio podcast or through our website at
Saveiretirement dot com.
Speaker 5 (01:11):
You can call us toll.
Speaker 4 (01:12):
Free at eight sixty six Save My Retirement, or locally
at four zero nine eight for zero sixty nine hundred.
I'm Jeff Lewis, an investment advisor representative at Assey Growth Associates.
We have offices located in Dallas and right here in Beaumont, Texas.
We've been servicing our clients in Texas and Louisiana for
(01:33):
several decades now with investment penson and retirement planning services.
We also help our clients with personal and corporate income
tax preparation, including representing those who may be having difficulty
with the IRS. We also assist retirees with their medical
insurance options as they transition onto Medicare. Later on this episode,
(01:55):
we'll be talking with John Carava, our in house tax expert.
As usual, we've got the great Gene Valerani telling us
about ways you can earn market level returns without the
market risk. But first, our top line story this week
is the upcoming elections here for the City of Beaumont.
This show has reached out to each candidate for mayor
(02:18):
and city council for the upcoming general election on May third.
I'm excited to announce that we've heard back from almost
every campaign and that most of the candidates on the
ballot have agreed to appear for an interview on this
show in the upcoming weeks. I'll be posting on Facebook
the days the candidates will air. Once we finalize the schedule.
(02:38):
The first of these candidates will be with us this
week in our very next segment. I want to take
a few moments during this segment, however, to explain to
our listeners the parameters of these interviews. First, each candidate's
campaign was contacted individually with an opportunity to schedule an interview.
For those few we have not yet heard back from,
(03:00):
we are making additional attempts to reach them, but the
deadline we've said is approaching. We cannot promise that every
candidate will agree to appear on this show, but will
not be from our lack of trying. Secondly, each candidate
will receive one segment on our show, which provides equal airtime.
Since most interviews will likely exceed the allotted time, we
(03:23):
will be editing the content that fill the slots, but
will do nothing to distort the clear intent of the
candidate's message. Further, we will be making the full interviews
available online for you to listen.
Speaker 5 (03:37):
To if you so choose.
Speaker 4 (03:39):
Each campaign is also being offered the opportunity to record
this session privately for the purpose of veracity. To be clear,
we are not doing this for partisan purposes. Although I
freely admit I'm highly opinionated, I will do my best
to remain as neutral as possible as I can throughout
this process. The sole intent is to give you, the listener,
(04:03):
a platform to make an informed decision about this election.
I will at times offer a counterpoint to a candidate's argument,
particularly if one candidate decides to attack another, but I
will not be promoting nor endorsing any candidate in this race.
I have no personal ties to anyone in these races.
(04:23):
While I've voted for a few of them before and
even met a couple of them personally, I'm actually still
an undecided voter myself, and I will be listening intently
just like the rest of you. I believe that is
my responsibility to the listeners of this show to remain
as neutral and fair of a moderator as possible. I
am extending this policy of neutrality to any guest who
(04:44):
we interview on this show, both in this cycle and
hopefully in future election years to come. However, this policy
will only extend the candidates who agree to an interview.
It is my firmly hell belief that all candidates oh
are responsible to the public to make their opinions available
to voters. And while we're not so arrogant as this soon,
(05:05):
that means you have to use our platform here on
That's the bottom line. My position is that if I'm
not allowed to interview, then I'm at least allowed to critique.
That said, each campaign has been notified of potential topics,
so they could be prepared in advance. There's a wide
range of subjects we can talk about, and I don't
believe in blindsiding people. Some topics could be repeated to
(05:28):
multiple candidates. Other topics may be specific to a particular contest. However,
the questions I'm asking have been seen by no one
else but me, period It is my intention to have
guided conversations with these candidates about relevant topics. I'll ask
pointed questions, but I will not be attempting to play
gotcha with anyone. Finally, I will be interacting with these
(05:52):
candidates from my own personal perspective. Like every other resident here,
I live here too, and ill and to ask questions
on the issues that I care about personally. These people
want to represent me, and a lot of the topics
will discuss or issues that affect me personally, as well
as my family, my parents, my grandma, my friends, people
(06:15):
I worship with, people I work with. I have never
made any attempt whatsoever to hide my particular political leanings,
make no mistake, But in this day and age, with
the way the media acts in the political realm. I
think it's more important than ever for people to have
a full understanding of the person moderating and providing content.
People aren't neutral by nature. They have innate biases, preferences,
(06:39):
and faults, and to expect otherwise its faulty. That includes
peoples in the news business, whether it's national or local,
and certainly those of us hosting podcasts. What I'm saying
is always consider your source. And that's why I want
to take a moment to personally introduce myself again.
Speaker 5 (06:58):
My name is Jeff Lewis.
Speaker 4 (07:00):
I'm forty four years old, white male. I grew up
in Hardin County. Graduated high school up in Warren, Texas.
Shout out to my Warrior peeps. I moved here after
a house fire in March of my senior year, and
I've lived in Baumont for twenty seven years since. I
have two undergraduate business degrees and accounting of finance, plus
a master's in public administration, all from Lamar University. In
(07:24):
addition to my work here at pass At Growth Associates,
I'm also a football and basketball official. And chances are
you've probably yelled at me somewhere before around here and
that's okay, no harm, no foul. I've been married for
over eleven years to my epic wife, Alicia. We don't
have kids, but we got three gorgeous Burman cats, and
if you're friends with me on Facebook, you see those
all the time. I was an only child, but we
(07:46):
do have a niece and nephew on her side of
the family. I'm also an Evangelical Christian. My wife and
I are members of a local Baptist church, and I'm
serious about my faith in relationship with Jesus Christ. That
doesn't mean I aim got flaws. I've been known to
cuss like a sailor. But you know I'm not perfect,
just forgiven. And if you haven't figured out yet from
(08:07):
my last month of posting on this show, politically, I'm
a conservative with a populars streak, I'm also a strict constitutionalist.
Speaker 6 (08:18):
Now.
Speaker 4 (08:19):
I said all that to say this, All these traits
and experiences factor into formulating my own opinions. Each person
will have on this show in the next few weeks.
They've all got their own subset of traits and personalities
that I may identify with or may be completely different
(08:39):
than my own. I will likely personally agree with some
of these candidates and vehemently disagree with others. You have
my frame of reference now, so draw your own conclusions,
regardless of what anyone else, or what I think, or
anyone you ever talked.
Speaker 5 (08:58):
To make your own opinion. The bottom line is.
Speaker 4 (09:01):
This, we hear at Asset Growth Associates care very much
about the future of this city and the direction we're heading,
and we'll do everything we can to help. So coming
up after the break, we'll be back with mayoral candidate
Jude Peretis. He's a citizen of the first Board running
for mayor for the fourth time. I'm Jeff Lewis, and
(09:24):
you're listening to that's the bottom line on news talk
radio AM five point sixty kl v I.
Speaker 1 (09:31):
We're just trying to turn a nickel into a dime.
Speaker 3 (09:34):
That's the bottom line.
Speaker 7 (09:38):
The power to tax is the power to dispoy it.
Taxes affect your paycheck, your plans, not even your peace
of mind. But this tax season leaves the stress to us.
This is gene vaaleraniat Asset Growth Associates. We make filing
income tax returns simple, ac and stress free. If you're
(10:02):
fifty year older, you could qualify for a low price
of ninety nine dollars to file your return. So when
it comes to your taxes, every detail matters, every time.
Call us four O nine eighty four oh sixty nine
hundred er visit Savemretirement dot comm do it today. Taxes
(10:25):
are everything, Let's make them work for you. Are you
thinking about starting your Social Security benefits early? Before you decide,
let's talk about the big picture. Claiming benefits before your
full retirement age, whether it's sixty six, sixty seven, or
(10:46):
somewhere in between, can reduce your monthly income by up
to thirty percent. That could mean thousands of dollars less
every year, and once you start, there's no going back.
Here's the unintended consequence. That smaller check could limit your
ability to enjoy retirement, cover healthcare costs, or leave a
(11:10):
legacy for you and your loved ones. And if you
live longer than you expect, those reduced benefits might not
be enough. But don't worry. We're here to help. At
Asset Growth Associates specialize in creating smart strategies for Social
Security and retirement income. Will help you maximize your benefits
(11:35):
and secure your future. Call four oh nine eight four
oh sixty nine one hundred today or visit savemyretirement dot
com for your free social security analysis. Let's make sure
your retirement works for you, not against you, plant smarter,
(11:57):
retire better.
Speaker 8 (12:00):
If you owe the I R S five thousand dollars
or more, don't call an unknown eight hundred number. Instead
personally meet with us to review your IRS problem. And
if you want to pay the I R S nothing
or less than you owe, we can set up a
fresh start agreement with the I R S. We can
(12:22):
help you. Ladies and gentlemen can call us whole free
at one eight six six seven two eight three six
nine seven.
Speaker 1 (12:30):
We're just trying to turn a nippel into one dime.
Speaker 9 (12:34):
That's the bottom line, PROLA. People can't even walk the
street window bot meat.
Speaker 4 (12:58):
On Welcome back to That's the bottom line here on
news talk radio AM five sixty KL The I and.
Speaker 5 (13:11):
On our podcast via iHeartRadio.
Speaker 4 (13:13):
Hey everybody, I'm Jeff Lewis with Asset Growth Associates.
Speaker 5 (13:16):
Again.
Speaker 4 (13:17):
You can visit us at savemyretirement dot com. If you
live here in the Golden Triangle, you can call our
local number four oh nine eight four zero sixty nine
hundred or just as good toll free at eight sixty
six save my retirement. Sitting with me today is a
candidate for mayor, mister Jude Perettas tax cut Perettas.
Speaker 5 (13:36):
So you can start, I guess by telling me where
you get that nickname A Why.
Speaker 6 (13:39):
They wouldn't let me use that in the last time
we ran. You know, I had run before three times
before they mentioned They mentioned on palund twelve every every
time that a mayor raises the taxes, and that just
gets me fire it up and I go file to
run for mayor myself because my thing is, Hi, taxes
(14:01):
are not good for business here in Beaumont, so we
want to keep the tax rate at least maintain it
at the same level without increases and even decreases. I
know nobody's ever heard of a tax cut, but it
could be done, I think.
Speaker 4 (14:15):
Okay, well, my question on that is con yourself tax cut.
How are you cutting taxes when you're primarily campaigning on
cutting spending not revenue?
Speaker 6 (14:27):
Right? Okay, tax cuts would be my nickname that, Like
I said, they would not let me put that I
wanted to put on the ballot because they ask you
when you file, they're like, well, what's your nickname? When
I wrote in tax cut, Well you can't have political slogan, Yeah,
your nickname? So that what's doing? But like I mentioned,
(14:49):
mostly maintenance of the same tax rate. At least that
way your businesses can get adjusted to whatever the rate
is and it's not going to suddenly go up, which
you know that disrupts what you're trying to do.
Speaker 4 (15:00):
Okay, See you are concerned with the revenue side is
additional to the spending side that we've talked about a
little bit in the media.
Speaker 6 (15:06):
Okay, And I had mentioned this to you. There's a
project in the works and they're really going after it.
I've heard. I talked to some of the city council
members and they're like, now, we're not We're not going
to do one hundred million dollar project.
Speaker 5 (15:20):
That's just a you're talking about the riverwalk project.
Speaker 6 (15:22):
Right, Yes, what I call the canal now to nowhere I.
Speaker 4 (15:26):
Like to think, by the way, So, and that's supposed
to run an estimated you know, one hundred to one
hundred and fourteen million, depending on who you check out
the site.
Speaker 5 (15:33):
I mean, it's only a fourteen million dollar variance coring out.
Speaker 4 (15:35):
Loud who cares right so on that I was looking
up with we got potential improvements they're saying would include
a new city hall. I'm not sure how that's an
economic improvement, but thank you. Never mind, a two hundred
space parking deck at the Civic Center, another one, another
one at the new Riverwalk, which of course is a
(15:57):
new feature into itself.
Speaker 6 (15:59):
There'd be a entire for the hurricane to destroy the
whole thing, like.
Speaker 4 (16:04):
Uh, you got a new hotel, convention center upgrade, and
then they're talking about two private developer contracts, So one
hundred fourteen million, how do we pay for it?
Speaker 6 (16:13):
That's what I'm saying that needs to be halted. The
whole project, the downtown river Walk project, or as I
call it, the canal to nowhere, must be halted. And
as I was driving here to your office, I'm driving
through construction barriers, the whole roads torn up everywhere, and
we need to we need to stop with the new
(16:35):
projects and the excess is spending and complete what we've
already started. Let's get our roads fixed and finished that up.
Get the sewer lines running. See you know, some people
can flush the toilet and keep the water mains from
the old ones need to be replaced before they bust.
And you had mentioned water. I mean I've seen mains
(16:57):
that just bust open, so that all that needs to
be maintained.
Speaker 4 (17:00):
Yeah, I mean, and they're running in a bunch of
different areas where I mean, the city isn't getting to
them for weeks. I mean, so, I mean that's just
running in the streets and back in through the draine. Now,
you you said that you want to save tax payer
dollars by focusing on the upkeep of the existing infrastructure
as opposed to investing in new street and drainage projects.
Speaker 6 (17:22):
Right, But what we're already doing, and then we can
do some you know, I mean, if the people want
the river front and walk, then they should have it.
But that's going to be twenty years down the road.
Right now, we just need to finish what we've already done.
Speaker 5 (17:36):
I understand.
Speaker 4 (17:37):
But let's take some of the more recent drainage products
that you've at least I understand that you have been
critical of some of these drainage products. I mean they've
been critical since we've had you know, the last couple
of hurricanes Harvey, Milda, all the rain we've had here.
They yeah, they've of anythings that's been done since there
has protected us against further flood damage to resident poverty.
(18:00):
So when you consider those to be critical projects as
opposed to Okay, if the.
Speaker 6 (18:06):
Funds are allocated and we budgeted for it, let's do it.
It's not like with President Trump, where there's funds allocated
but he doesn't want to spend the money. The funds
are allocated, so let's spend the money and do that
we allocated. Let's not have new projects because they're trying
to float one hundred million dollars bond right now, and
(18:26):
they'll say, no, we're not a twenty years No, they're
doing a bond committee right now trying to close this box.
Speaker 5 (18:32):
So let's just just reiterate that. So get this straight.
Speaker 4 (18:36):
The city right now wants to borrow another one hundred
million dollars.
Speaker 10 (18:40):
Okay, how much that do we already have? The debt
of the city is in the range of two hundred
to three hundred million dollars. Yeah, that's exactly right. I
actually pulled numbers up this morning just to run that.
I pulled up the budget and took a look at it,
and you know what we're spending extraordinary amount of money
(19:02):
and debt we're at I think the going from memory here,
I think the number was closer to two thirty million.
Now that kind of freaked me out because I'm looking
at this and we pay seventeen cents on one hundred
right now.
Speaker 5 (19:14):
For debt in the city.
Speaker 4 (19:16):
Okay, that's our tax rate, and you take the property
taxes and all that seventeen cents of.
Speaker 5 (19:21):
That has to do with debt.
Speaker 4 (19:22):
That's on top of the sixty cents you know, sixty
plus cents that we already pay for city taxes.
Speaker 6 (19:29):
Okay.
Speaker 4 (19:30):
Now, obviously you have other tax built like school taxes
and all that stuff. We can talk about bis to
get another day.
Speaker 6 (19:36):
But I don't get why does the drainage district charges
the tax because they sell they get the water for free,
it range down into the canal, then they sell it
to the former. So why do we pay a drainage district?
Speaker 4 (19:48):
Well, you know, on that note, we pay a lot
of taxes for a lot of different purposes, and we
don't always know where the money's going. But my question
is to you, do we have a revenue problem in
the city of my mind, or we have a spending problem?
Speaker 6 (19:59):
I think the city is viable financially.
Speaker 5 (20:02):
I believe that we were three and a half million
deficit this past year.
Speaker 6 (20:05):
That's true. I believe that our revenues and expended truth
can balance. It just takes the willpower to do well.
Speaker 4 (20:12):
Sir, I do thank you for coming in and talk
to us. Hopefully one time sometime, even if it's outside
the campaign. We'll have you back sometime just to sit
around shoot the bull because it's been a lot of
fun doing it.
Speaker 5 (20:22):
So okay, thanks, we sure have we.
Speaker 4 (20:25):
Sure have enjoyed it, and uh we'll be uh, we'll
be right back coming up next.
Speaker 5 (20:29):
I'm back with John Kava.
Speaker 4 (20:31):
I'm Jeff Lewis, and you're listening to That's the bottom
Line on news talk radio AM five.
Speaker 1 (20:38):
We're just trying to turn a necke into a dime.
That's the bottom line.
Speaker 7 (20:45):
Imagine investing a million dollars today and securing a guaranteed
fifteen percent future annual income for you and your spouse,
and income you can never uplift. Sounds like a dream.
With a deferred income plan, it's possible. Here's how it works.
(21:07):
Your investment grows over time. A fifty year old couple
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deferred income plan is the smart way to make your
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nine eight four oh sixty nine one hundred or visit
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Act Now, Financial peace of mind is waiting for you.
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Guaranteed income, guaranteed peace of mind.
Speaker 11 (22:03):
I want to invite our listeners to find out what
a risk number can do for them. Visit what is
My Risk Number? Dot com? And while you're there you
will find more information and if you click the link
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my risk Number dot com now to take control of
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is what is my risk number? Dot Com? Again? What
is my risk number?
Speaker 7 (22:42):
Dot com?
Speaker 1 (22:43):
We're just trying to turn ankeel into a dime. That's
the bottom line.
Speaker 4 (22:49):
We're back with That's the bottom line here on news
talk radio AM five sixty KLVI and on iHeartRadio again,
I'm Jeff Lewis. Remember for any of your investment, tax
or medicare questions, we'll be glad to talk to you.
Here at Asset Growth Associates. You can call us toll
free at eight sixty six Save my Retirement or if
(23:11):
you're local here in Southeast Texas at four oh nine
eight four zero sixty nine hundred.
Speaker 5 (23:19):
John Krave has joined us.
Speaker 4 (23:20):
Now you're not a regular listener of the show, John
is our resident tax expert here at Asset Growth Associates
with an office ten feet from my door.
Speaker 5 (23:27):
And John, it's always good to have your own.
Speaker 12 (23:30):
Well, thank you, Jeff. And today is the magic thirteen
days before the first deadline for filing your income taxes.
Speaker 5 (23:38):
Okay, So April fifteenth is coming up quick, right.
Speaker 12 (23:41):
Tuesday, second Tuesday, or Tuesday after this, coming Tuesday, So
it's coming quick. And if you're not quite ready, remember
you can always file a six month extension that would
be until October fifteenth, but you need to file that
extension before the deadline of April fifteen. Teenth and we
(24:01):
can help you with that.
Speaker 5 (24:02):
So you mean I really don't have to pay any money, yet.
Speaker 12 (24:04):
You need to pay money if you owe money? Well,
how do I know if I owe money? If you
owe money last year, our computer program and myself will
be able to tell you that you would need to
pay ninety percent of that with your extension to keep
the irs happy. If you had a refund last year, No,
(24:26):
you don't owe any money. You just to own extension.
Speaker 5 (24:29):
As long as I had zero return or a.
Speaker 4 (24:33):
Refund or some kind like that, I don't have to
worry about paying the quarterly minimum.
Speaker 12 (24:38):
Absolutely, okay.
Speaker 5 (24:39):
So that's good today? Is okay? Well maybe I'll be
okay next year? So all right, so talk to.
Speaker 4 (24:45):
Me a little bit about whether you got a lot
of people itemizing this year if they should be using
standard deduction.
Speaker 12 (24:50):
My standard deduction happens to be one of the beautiful
things that has happened to the tax code since twenty seventeen.
That was when Trump took That is exactly right. That's
when the Jobs Act came in to affect Themness is
all part of that. At that time, it used to
be that single people had a twelve thousand dollars standard
(25:11):
deduction and married people had twenty four thousand, So it
was conceivable to have enough sales receipts, medical bills, property
tax payments, et cetera to exceed those thresholds. And so
that's when you came in with your shoe box full
of information and we went through it. Now it's increased
(25:31):
this year, where a single person is fourteen thousand, six hundred,
married couple thirty two thousand and five hundred, it's tough
to find sales receipts and property taxes did exceed that.
So you have a situation where if you have a
W two, which taxes are taken out of W Social
Security or an IRA, and you take the standard deduction,
(25:54):
there is no reason the IRS will ever audit you
because you're taking what they offer and your income statements
have been filed by your employer or your investment house.
Speaker 4 (26:08):
Well, you know, it's kind of funny you mentioned that, because,
I mean, when I was doing my taxes this year,
I had a ten thousand dollars surgery last year and
I still didn't even come close to being able to
atomize by the time day factor in the married filing
jointly standard deduction. I was stunn because I thought, for
sure I'll be automizing, and here I am.
Speaker 5 (26:25):
You know, not right.
Speaker 12 (26:26):
That's that's the unfortunate part of the tax code that
your medical expenses are not dollar for dollar deductions. It's
based on your agi, your just and gross income. Once
you know that number, you take seven and a half
percent of that whatever that number is, say fifty thousand
dollars time seven and a half, that's about thirty five
(26:48):
hundred dollars. Any expenses over thirty five hundred dollars will
be deductible on your schedule A that that thing.
Speaker 4 (26:54):
Under that is that is a change I like to
see myself because you know, just thinking about it, if
we spend a whole bunch of medical I mean, in
my opinion, that ought to be dollar for dollar, which
is kind of hard to prove, at least for major
events like that. We're gonna have some politicians on over
the next couple of months. Maybe we talking about it.
But you know again, uh, you've also talked a little
(27:16):
bit around office here about IRA penalty. So talk to
me a little bit about if you're not getting your
ten percent withdrawal in on time, what's the impact on that.
Speaker 12 (27:25):
Well, this has something to do a little different than that.
I had a client come in the other day that
I took an IRA withdrawal because it was offered to
them due to Hurricane Burrell. Okay, And because of Hurricane
Burrow it was presidentially declared the disaster even down here.
(27:46):
So if you took an Iron withdrawal because of Hurricane
Burrell to do some repairs, we can forgive that ten
percent early withdrawal for you under fifty nine and a half.
Speaker 5 (27:55):
Okay, So did you actually have to do it for
that or is that a wink wink? I did it
for no.
Speaker 12 (27:59):
No, there's a femic code to sign, okay, a sign
of the hurricane Borough.
Speaker 4 (28:04):
You don't want to budge that one at all, right,
you want to have the right information.
Speaker 5 (28:08):
Okay, good deal.
Speaker 4 (28:09):
So you know, we actually talked a little bit about,
you know, just from a dog standpoint this past week,
and I think you've brought to my attention apparently our
local IRIS tax office over into old energy building that's
getting closed down now, right, I.
Speaker 12 (28:27):
Had updated news on that, Okay, Right, I did some
diggie and I called up the building down there to
find out what was going on, because I'd been down
there a few years ago and you could walk in,
you could work with an IRS.
Speaker 5 (28:39):
Person, But then that was gone, and I found out
that that.
Speaker 12 (28:44):
I was worried that the office was empty and we
were paying one hundred and fifteen thousand dollars here for
an empty office. But I find out that it's full
of IRS auditors doing backroom work. Okay, kay, so you
want to do something in face, you're going to Lake Charles,
fur Houston.
Speaker 6 (29:00):
Okay.
Speaker 4 (29:00):
So that's just the closet work exactly, numbers, countries and
all that stuff what I call the nerdery.
Speaker 5 (29:07):
Right, I brought it.
Speaker 12 (29:09):
I called up Randy Weber's offers, Congressman Randy Weber to
clarify that, and found out that's the truth, and made
my simple plea that it would be nice being the
metropolitan area sizee we are to have a walking office
would certainly simplify my life, right and taxpayers on their own.
But it's not the case right now, yeah, because we're
(29:30):
not pounding fife hundred and fifteen k down a rant hole, right,
because I.
Speaker 5 (29:34):
Mean, next close the office, really, what is Lake Charles?
Speaker 4 (29:38):
So I literally have to leave the state or am
I view of the country to be able to get
over there right with an appointment. Yeah, with an appoint
you can't just show up. So last thing, let's let's
say you do get a foul the RS. You know,
you screwed something up, because it's easy to do, especially
to do it on your own. But what kind of
situation do you What do we do around here to
(29:59):
be able to help you settle.
Speaker 12 (30:00):
Some of that? Yeah, A couple of things that we've
done successfully is put people on installment programs with the IRS.
Well you'll pay for X number of months X number
of dollars to satisfy the debt. Of course interest druns
the whole time, or in some extreme cases, we were
able to settle the debt for less money than old
(30:21):
called an offering compromise.
Speaker 4 (30:23):
All right, Well, we'll be talking to you again real
soon here before we get out. Coming up next, Geene
valeranius here with this week's solution segment. I'm Jeff Lewis,
and you're listening to That's the bottom Line on news
talk radio AM five sixty KOVI.
Speaker 1 (30:39):
We're just trying to turn a neckel into what that's
the bottom line?
Speaker 7 (30:46):
Planning your financial future. Taxes can be one of your
biggest expenses in retirement, but they don't have to be.
With a tax efficient distribution plan, you can keep more
of what you've worked so hard to say. Here's how
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(31:10):
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and your income steady. Take control of your financial future.
(31:35):
Let's make your money last longer and work smarter for you.
Call four oh nine eight four h sixty nine hundred
to day or visit savemretirement dot com to schedule your
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(31:55):
your goals. Smart investments, smart tax strategies.
Speaker 4 (32:04):
Are you tired of watching your investments rise and fall
with the market. What if you could have growth potential
without the risk of losing your hard earned money. This
is Jeff Lewis with Asset Growth Associates. If this sounds interesting,
then you need to ask us about a principal protection plan,
a smart financial solution designed to protect your money in
a down market while capturing market linked returns while the
(32:28):
market goes up.
Speaker 5 (32:29):
No market losses, market linked gains, peace of mind.
Speaker 4 (32:35):
Don't leave your future to chance. Call Asset Growth Associates
today at four zero nine eight four zero sixty nine
hundred to learn how to grow and protect your wealth.
Protect what you've built, grow with confidence. Call now four
o nine eight four zero sixty nine hundred or visit
us at savemiretirement dot com.
Speaker 1 (32:57):
We're just trying to turn a neckel in do what
that's the bottom line.
Speaker 7 (33:03):
This is gen Valerati with today's solution make America wealthy again.
President Trump told an assembled audience that included auto industry
union workers a few days ago. The President's goal is
to bring industry back to the United States instead of
(33:24):
having our manufactured products and automobiles built overseas and shipped here. Well,
he's created quite a stir, hasn't he. Blue collar workers
seemed to be happy because it means more jobs for
American workers, while Democrats in Congress and the Senate are
(33:48):
acting as if it's the end of the world. I
thought the Democrats were the ones that supported the working man,
not having jobs shipped overseas well. Pick who you want
to believe, Ladies and gentlemen, those who worship solely at
the church of the here and now were those like
(34:10):
Trump who are attempting to make America wealthy again. What
about the year and now. If the markets react badly initially,
that's to be expected. Keep one thing in mind. Keep
one thing in mind, ladies and gentlemen. The markets will
come back, and so will America. And for those of
(34:32):
you in principal protection, I want to remind you that
you haven't lost a dime. So when the big stock
market boom occurs, while many will be playing catch up,
you're going to already be surging ahead. I want you
to keep that in mind, because we Americans are on
(34:55):
the eve of a new awakening as Donald Trump begins
a renaissance in American business here in the United States,
manufacturing business, good paying jobs. Mister Trump never accepted that
Joe Biden won the presidency back in twenty twenty twenty,
(35:20):
so he is now reasserting the dominance of American supremacy
in the world. Listen to me, We're entering a new
period of life in our country, and we're on the
eve of an American resurgence now would be a good
(35:41):
time to invest money and grow nestaches. One path the
financial growth that we still believe to be a good
one is investing money where it can grow without being
exposed to losses. And the best solution is using plans
(36:02):
index to the financial markets, but outside of the markets,
but based of course on market performance. In other words,
you get the benefits of an up market and you
don't have to worry when the markets has a little
dip or is in a downturn. You can earn market
(36:24):
link returns and still remain immune from market losses. Because
that's what we do here at Asset Growth Associates. We
protect nest stapes. These plans that you hear me talking about,
capture market gains, add those gains to your account without
(36:44):
exposing them to losses. When the market has downturns, interest
rates are down and this leaves investors with the rise
of stock prices as the best way to grow an
est steak. But listen to me, you can capture the gains,
add them to your account without fear of losing value
(37:07):
caused by declines on Wall Street. I want you to
come in and talk to us and Asset Growth Associates.
Our phone numbers four oh nine eight four oh sixty
nine hundred. The toll free line is one eight six
six seven two eight three six ninety seven. That's one
(37:27):
eight sixty six Save my retirement, or you can simply
log on to save my retirement and reach us online
as well. With the right planning process, it's possible to
gather in gains without exposure to losses. And if you're
already in principal protection, you haven't lost a die. Simply
(37:52):
put your account where it keeps all the money that
it earns and is available for withdrawals when you need
cash either per monthly income lumpsum withdrawals flowing back into
your bank, checking or savings accounts. You know, these accounts
(38:12):
you hear me talk about every week are excellent for
four oh one K rollovers and for acquiring financial growth
for current income. And there's an old saying claiming that
the future is now, and that simply means plans we
make available now is what create a more bountiful future.
(38:36):
Once again, the phone number to reach us four oh
nine eight four oh sixty nine hundred or for long
distance callers one eight six six seven two eight, three,
six nine seven, or just log on to Savemoretirement dot com.
Call us to make an appointment and we will help
(38:58):
you secure you your financial life and build a cash
reserve for your future payouts in monthly income or lump
some withdrawals. Remember, ladies and gentlemen, Savemoretirement dot Com. Log
on to it, and while you're there, you can learn
(39:19):
more about us and the work we do for our clients.
You know, there's an old saying the journey of one
thousand miles begins with the first step. Why not make
that first step today by calling us at Asset Growth
Associates four oh nine eight four oh sixty nine hundred.
(39:40):
You call us, make an appointment, come in, we'll share
some ideas with you and simplify your life. As always,
this is Gene Valeradi reporting and bringing you the solution
that you need to know about.
Speaker 1 (39:56):
We're just trying to turn a nickel into a dime.
That's the bottom line. We're just trying to turn a
neckel in too.
Speaker 3 (40:05):
That's the bottom line.
Speaker 4 (40:18):
Thank you for listening today to That's the bottom line
on news talk Radio AM five sixty KLBI plus. To
those of you that tuned in via podcast, through iHeartRadio,
or through our website at Savemyretirement dot com. Again, you
can tune in next time at six am Saturdays or
at eleven am on Sundays. And of course, you can
(40:42):
listen to all of our previous broadcasts anytime any day
on demand online. Again, if you decide to contact any
of us here at Asset Growth Associates, give us a
call at four zero nine eight four zero sixty nine
hundred or toll free at eight sixty six Save my Retirement.
(41:03):
Our physical address in Beaumont is at thirteen ninety one
Calder Avenue, a block from the intersection of MLK and Calder.
I really hope you enjoyed this week's broadcast. We know
your time is important, and that means giving you relevant
information about important issues. That's why we're taking a break
from our usual format and content to provide you with
(41:24):
an opportunity to hear from the candidates themselves.
Speaker 5 (41:28):
Once again.
Speaker 4 (41:28):
We think our special guest this week, Jude Perettes, for
taking a time away from his campaign to talk to us. Remember,
we will be making his entire interview available online in
its unedited form. We look forward to speaking with each
of the candidates in turn, personally, I have great respect
for anyone that has the courage to stand for office.
(41:50):
Without candidates, we have no republic. And though we may
agree with someone or we may not, you can't evaluate
someone you haven't heard. In case you're new to go
into the show, we have a lot to offer here
at Asset Growth Associates, from portfolio management to principal protection,
from tax services to medicare.
Speaker 5 (42:09):
We're here to help.
Speaker 4 (42:11):
If you're about to retire, If you just have an
old retirement account or CD that's been sitting around and
you don't know what to do with it, well we do.
Speaker 5 (42:19):
If you're wanting to be.
Speaker 4 (42:20):
Actively involved in market, our advisory services can help design
a portfolio that suits your risk tolerance and return expectations.
If you're a little bit more tentative when it comes
to being in the market right now, resh assured we
get it.
Speaker 5 (42:34):
You're not alone.
Speaker 4 (42:36):
We've got investment plans that involve zero risk to your principle.
At Asset Growth Associates, we've got the experience and name
you can trust. We know how to handle your money consistently, safely,
and always with your best interests in mind. Remember the
tax deadline is rapidly approaching, so if you need more time,
(42:57):
come get your extension filed. Senior time filings are still
just ninety nine bucks. I'm Jeff Lewis for Gene Valerani
and everyone here at Asset Growth Associates. You are greatly
blessed and highly favored, imperfect and forgiven because it's always
that's the bottom line.
Speaker 3 (43:18):
That's the bottom line.
Speaker 2 (43:21):
You can reach Asset Growth Associates by calling one eight
six six seven to eight thirty six ninety seven are
by visiting savemiretirement dot com
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