Money Monday with Brian James

Episode Transcript

Speaker 1 (00:00):
You are summer ice chests of information.

Speaker 2 (00:03):
It's essential to know what's going.

Speaker 1 (00:05):
On inside KARC the talk station.

Speaker 2 (00:11):
Eight o five the fifty five krceeding talk station.

Speaker 3 (00:14):
Happy Monday by the time as right here, always looking
forward to this segment because we get to hear from
all Worth Financials Brian James talk Money Matters. You call
it Money Monday with Brian James. Welcome back, Brian Hope.
You had a nice weekend.

Speaker 2 (00:26):
Good morning, nice hot, sweaty weekend, as we've become used
to over the past several weeks.

Speaker 3 (00:30):
Well, I know my grass is as high as an
elephant's eye. Coming back to Oklahoma. The music, well, I
gotta get the grass cut and keeps raining on me. Anyhow,
moving away from that and talk about matters financial. Oh, now,
I know Trump's been complaining about the FED chair. Uh,
he wants interest rates lower. Powell says no, obviously hasn't

(00:51):
lowered the interest rates. Jerome Powell currently head of the Fed. Now,
Trump has already said he wouldn't fire Powell. Powell said
he'd never leave the job absent die. So we have
until May. I guess there's going to be a natural
changing in of the guard next May.

Speaker 2 (01:05):
Yeah, May have twenty twenty six. And let's not forget
that Trump himself did a point this particular FED shair,
which is kind of funny. He was a comment from
President Trump the other day last week sometime that he
was surprised when he was appointed. Well the words came
out of your mouth. So yeah, not sure exactly where
that surprise comes from, but anyhow, Yeah, so he's he's
pushing for pushing for a replacement. Trump says he will

(01:27):
not remove him that. Well, we'll see if that, if
that actually sticks, but that doesn't mean we're not gonna
go ahead and have the conversation about who might replace
in May of twenty six when this current term is up.

Speaker 3 (01:37):
Right, he did quite a few names being thrown around,
and Scott be Sent for example, is one of them.
But he's happy where he is as the Treasury secretary,
so he's already said no, I don't want the job.
But beyond that, we could talk about some of the
other names they were thrown around. But let's as a
fundamental thing, if Powell was out, whether he got fired
or he died or he quit, just because you name

(01:59):
a new chairman of the FED doesn't mean, they're going
to lower interest rates, does it right?

Speaker 2 (02:02):
And the the problem is that President Trump super super
super once interest rates to come down, and he has
he said that all through his first term, and he
said that all through the campaign, and of course he's
still trumpeting those ideas. Those are that's obviously an extremely
business friendly proposition. If rates are lower, then it's cheaper
to do business, and we would get an immediate pop
in the stock market, a little bit, possibly a little

(02:24):
bit of a sugar high. Because the concern behind that,
and the reason we don't necessarily want to do this,
is because that can quickly trigger inflation, which we've just spent, however,
many years trying to tamp down from from the COVID process.
So at this point, the concern is that if he
if he is able to get what he wants by
simply putting a puppet or a mouthpiece in there, then

(02:44):
that the long term chaos that could come out of
that would be pretty dangerous in terms of overall inflation spikes. Plus,
the FED has always been famously independent politically. Yeah, that's
one of the one of the departments that really has
not been impacted by politics so much. There is a
little bit of history there. Nixon got involved in it,
and it did create some chaos and inflation and played

(03:05):
a role in the stagflation era of the seventies. So
there is precedent we can look at to see what
happens when we get too much political control. But you know,
historically that area has stayed relatively free of political interference.

Speaker 3 (03:18):
Well, I recall Carter screaming at yelling about Paul Vulkar
because he one of the interest rates lowered back when
Vulkar was head of the chair ahead of the FED,
and Vulker refused to relent. So the other way on it. Yeah, exactly,
We've been down this road before. So I appreciate the
independence of the FED. Now, how independent is the FED
chair in decision making because there are all kinds of

(03:41):
you know, governing board members, they all have a say
in it. Or is the chairman exclusively responsible for making
the decision?

Speaker 2 (03:48):
Well, the buck stops with the chairman, but of course
there's a lot of input from the various FED governors
and who are regional as well as the board itself.
And matter of fact, Trump is trying to stay ahead
of that too as well by saying not only should
should should chair Powell step down, he should also remove
himself from the board so that we don't have a
situation of a shadow chair. So there's I'm sorry there

(04:11):
was Scott percent that said that, but regardless, though, the
whole point is they want Jerome Powell's opinion out of
the mix entirely. So yes, there is a lot of input,
but at the end of the day, the decision rests
with the chair.

Speaker 3 (04:22):
Well, this is a direct impact on treasury bills, right, Oh,
of course, yeah, I mean treasury builded. The Fed will
set rates.

Speaker 2 (04:30):
We know how that works, right, They'll come out and
they say rates go up, We're going to up a
quarter percent, up a half percent, down, a quarter percent, whatever.
But the market has an impact too, and because the
market will, of course try to anticipate and I'm referring
to the bond market here, the bond market will try
to anticipate what the moves are going to be. And
so for example, you know, one of the popular things
that people want to pay attention to this for is

(04:51):
because maybe you're in a situation where you bought a
house in the last three four years and you're paying six, seven,
maybe even eight percent on a thirty year mortgage. Obviously,
that's something that's not the norm. We're happier when we're
in the three to four percent range there. I'm not
sure we're all low way down there again, but the
lower the better. But you want to look at the
ten year treasury that's what most mortgage mortgage rates are tracking.

(05:16):
So the Federal Reserve will make the moves too, but
the market will also anticipate which way bonds are going
to go, and that itself can have impact on what
where interstrates are going to go.

Speaker 3 (05:25):
But you got to look past the veneer of a
lower mortgage rate, don't you, Because you mentioned inflation being impacted.
When the rates come down, you worry about inflation. There
could be a spike and business activity gets generated, et cetera.
But people keep talking about, gosh, we want the interest
rates lower because I want a lower interest rate from
my home. Now, that's all well and good if you're
going to refinance and stay where you are, but that's

(05:47):
not going to increase the stock of housing. In fact,
we can you consider inflation the lower it is the
charge to borrow money, the rate at which you borrow.
It seems like the demand would go up, putting upward
pressure on the price of a home. Yes, absolutely, and
we haven't had that much downward Prince right. All stories
we hear kind of anecdotal stories about how there's less activity,

(06:08):
fewer housing starts, that kind of thing, but the prices
have not yet dropped. That's how strong the demand has been.
So yes, you're absolutely right. I think I think it
depends on what situation you're in. If you already bought
a house, then you really really want a rate cut
so you can refinance, because you heard all the awesome
stories when you were younger of the prior fifteen twenty,
when refinancing was something you did every six months, you know,

(06:30):
on date night, you.

Speaker 2 (06:31):
Know, go out for dinner after work. It was just
a regular routine. But on the other hand, if you
are shopping for a house, you may not want that.
You arguably might even want rates to tick up higher,
so it'll finally break the back of housing demand and
things will pull back a little bit. Now, all of
those are a very short term in nature, and it
really just depends on what your own individual situation is.
But these are all things. Unfortunately, we will not have

(06:52):
a perfect situation somebody's going to end up on the
short end.

Speaker 3 (06:55):
Of the stick clearly. Now moving away from just the
housing industry because you know the obviously that's governed purely
by supply and demand. If there's not enough houses out there,
the price is going to go up. It's the greatest
illustration you can have of that. What about other areas
of the how it would impact from an inflationary standpoint,
other areas of businesses generally speaking, Why is it that

(07:16):
a lower interest rate we would have an inflationary reaction
Outside of the housing market.

Speaker 2 (07:21):
It generates a lot more hats being thrown in the ring.
So in other words, if rates are low, that means
I can get money for cheaper than I could before.
And the best type of money to invest with is
somebody else's. So that's where you hear about all these
things about companies borrowing to invest or or you know,
the fabulously wealthy set borrows against their holdings and simply

(07:43):
wants to pay down the debt rather than liquidate those
actual holdings to pay for their bills. And this is
something the average person gets to do. But that is
we've set up a system in this country where that
is a very profitable thing to be able to take
advantage of. So that generates a lot more activity, and
it it generates just people going out and doing things
and buying more products and so on and so forth

(08:04):
because they're cheap, especially now, because we will when that happens, Brian,
we will convince ourselves of scarcity. These rates that aren't
going to stay low forever. I better do things right now.
We saw this with products and imports in the first
quarter of the year, where we saw a big spike
in imports in anticipation of the character coming. Yeah, so
anticipation will itself drive prices up.

Speaker 3 (08:25):
Well, you know, you've got an opportunity to borrow for less.
Of course you're gonna jump on that. That makes perfect sense. Now,
let me just get a comment or two from you
on this comical notion that you need a what is it,
two and a half billion dollar Reserve office upgrade? Yeah?

Speaker 2 (08:41):
What the hell this one? It really feels like this
is one that you know, the government is operating out
of buildings at one hundred and fifty two hundred years old,
so I'm sure they need upgrades and things here and there.
But yeah, two and a half billion dollars low on
the price the end. However, Jer Powell, it hasn't ever
been someone who is a ostentatious, look at me type

(09:04):
of a person. So I can't I can't simply lay
the blame at his feet to say that this was
a mistake from the beginning. It does really seem to
be what's what is anything? Go find anything that we
can point at him and point out the weakness of him.
And I'm speaking of you know, those who are on
the warpath to get rid of him. Sure, if that's
what they came up with, I'm feeling a little more
confident about Chair Powell.

Speaker 3 (09:24):
No, and I'll agree with you all day long on
that conclusion. And I don't I personally. I know Trump's
been pointing the finger of Powell over this renovation cost,
but to me, it exists beyond who's responsible for making
the decision two and a half billion dollars. It's I know,
you can build a brand new Bengals stadium for that

(09:45):
kind of money.

Speaker 2 (09:46):
Yeah, absolutely, And there seems to be obviously, we need
a lot more context behind this to understand exactly where
that face. I cannot imagine Chair Powell spends a lot
of time looking at marble samples. With the job that
he has, I'm pretty sure there are people to do this,
and I have a feeling that kind of came out
of left field when he realized he was going to
have to have a bigger opinion on it and be

(10:08):
more vocal than than he had.

Speaker 3 (10:09):
Well, you know, you'd expect some measure of fiscal responsibility
from the head of the FED. That's all I'm saying.
You know that's fair, that's a fair assessment. I just
yell out loud. I'm putting my foot down. There's no
way of office renovations should ever cost this much. You're
going to get lesser expensive chairs. Live with it. It's
say fifteen right now, more with Brian James speaking of
Tariff's solid earnings report masking tariff volatility. That's subject coming

(10:32):
up next. I hope you can stick around.

Speaker 4 (10:34):
Fifty five KRC the talk station. How here's a Channel
nine first morning. What the forecast. There's a floatwatch going
on out there. It ends at.

Speaker 3 (10:44):
Eleven this morning. Any rain in the area of the
predictable end around two pm if you've got it today,
mostly cloudy, high of eighty two to be clear. When
I'm sixty five for the low not as human tomorrow
nice on that note, sunny, and eighty five for the high.
Clear sky is overnight down to seventy three all the
way up to ninety one on Wednesday with mostly sunny
skies seventy four. Right now, let's get a traffic update.

Speaker 1 (11:08):
From the UC Help Tranfort Center. You see health.

Speaker 5 (11:10):
You'll find comprehensive care that's so personal and make sure
best tomorrow possible. That's boundless care for better outcomes. Expect more.
You see help dot Com two Rex northbound two seventy five.
The first blocks the left two lanes right after you
get pass thirty two in east Gate, and then the
second is on the left shoulder at Milford Parkway stop

(11:31):
beound seventy five slows through Walkler Chuck Ingram Month fifty
five KRC.

Speaker 1 (11:36):
They talk station.

Speaker 3 (11:40):
Hey nineteen fifty five kir CD Talk station Happy Monday,
Monday Monday with Brian James from All with Financial. Let's
talk about earnings. Says earnings beats might mask tear of
volatility these two weeks. And I'm looking at the Wall
Street Journal top of the scroll there Dow Jones SMP
and Nasdaq all ticking up at about a quarter percent up,

(12:02):
so futures are up this morning. Headline, Front page, Wall
Street General, the US economy is regaining its swagger, evidence mounting.
The companies and consumers who held back during the spring's
tariff chill are starting to splurge again. And yet we
have Donald Trump saying he's going to implement some new
tariffs beginning August first, most notably in the European Union,
a minimum of fifteen to twenty percent tariffs. So I'm

(12:24):
having a difficult time reconciling what all this actually means.
Brian James. It seems like we got good information over here,
but oh my god, those evil tariffs are coming. And
is that going to change people's buying habits? Are people
going to stop buying? I doesn't seem to be bothering
anybody right now anyway, Brian.

Speaker 2 (12:40):
Yeah, it's not really spooking the herd. And we've been
through this before, of course. In early April that was
the first round of all the tariff chaos, and the
market took an absolute beating, dropping in some cases close
to twenty percent depending on the index you're looking at.
And so we're going through this again. However, the headlines
are no different. It's the same headlines. We're picking on
a country and here's a percent number that we're going
to throw out of them, and we're going to give

(13:00):
them a deadline, the same thing we did in April.
But the market is now used to this. So where
we're looking at now August first, a fifty percent tariff
on copper imports. This is purportedly for national security reasons.
This is mostly gonna hit Chile with a significant impact
of construction, electronics, auto energy. You know, it used to
be that copper was used in plumbing and construction. That

(13:21):
was kind of it. But now just about everything we
touch nowadays, since everything has to have data moving across it,
copper is just everywhere.

Speaker 1 (13:27):
So copper is.

Speaker 2 (13:28):
Almost a better indicator of overall economic activity than crude oil.
Kind of crude oil used to be the more the
more oil we buy, the more activity we must have.
Well now it's copper. And so there's gonna be a
fifty percent tariff coming on August first, depending on how
those other countries react, and thirty percent on EU and Mexico.
And that's that one's I think probably the most well
known that we've got hanging out there, although with Mexico

(13:51):
some of the USMCA compliant goods might sneak out of that,
and then on again twenty five to thirty five percent
on Canada, Japan, South Korea, and a few more so
August first, that's the we're playing chicken right now. We'll
see who's going to swerve here in a week or so.

Speaker 3 (14:04):
So the goal of the tariff, like, for example, copper,
we buy the copper right, we need it here. We
don't have a giant copper mind where we're manufacturing our own.
So there is an idea to reshore American copper production.
It's just to teariff the country that we're buying it from. Correct, Yeah,
the only.

Speaker 2 (14:21):
Way that we can. If if we could find something
in our own dirt that did the same thing that
copper did, but you know, maybe even better, then we
would do that instead. We wouldn't be talking about tariffs.
We would throw it out here. But some things we
simply cannot produce at home.

Speaker 1 (14:33):
Now.

Speaker 3 (14:33):
In so far as Chilean copper production, we're okay, we
can get it now. It's going to be fifty percent
more when the tariff goes in effect, what are we
asking from them that we would harm ourselves so much
because there is such a huge demand for copper. Brian James, Well.

Speaker 2 (14:46):
We are simply asking, we're asking them to pay up.
You want to do business here, We're and we're kind of,
you know, taking a flyer on this, thinking that we
are such a big market. We're just throwing our weight around.
We are. The United States is the largest market by far,
not even close to many many other markets that might
be buying these products, and we're we're simply looking for
a better deal. It's really no different than we used

(15:07):
to We used to hear the stories about, uh, you
kind of still do about Walmart driving small mom and
pop shops out of business, uh, because they were looking
for every to save every possible penny they possibly could.
They're the biggest, you know, the biggest knife in the drawer,
so they're going to use their weight. That's the same
thing the United States is doing here across all these countries.
All right.

Speaker 3 (15:26):
Well, another thing I saw in this report that you
provided to me some it looks like pretty good news
to me. Upbeat to start to the earning season helped
to quell off these tariff fears. Around eighty three percent
of the S and P five hundred companies that are
reported earnings have exceeded expectations. That's pretty damn good, right there, Brian.

Speaker 2 (15:47):
It is we're on a good run. And uh and
this is uh, you know again, this is what we're
What we always talk about here is what did the
analyst think was gonna happen versus what did happen. And
we talked about this last week, you and I did
with a handful of different companies. But this week it's
out Alphabet, which owns Google and YouTube, stronger than first
quarter growth. On Thursday, Intel was up. So it was
a lot of technology stocks this week. And again those

(16:08):
are the ones that benefit a lot from Copper with
all the data houses and things that they have to
build out there. So we're just continuing this role of
companies being in a good spot and earning more than
that cost them to sell their products, which is the
core of everything we want to do. And so that's
a sign of a stable economy. Inflation is currently not
an issue. I agree with President Trump there. It is

(16:29):
currently as we're sitting here, not an issue. Some of
the decisions he would prefer that we make may with
regards to tariffs as well as interest rate decisions that
he would very much like to see Fed Chair Powell
put in place that could trigger inflation. Those are concerns
and the market is a little bit hesitant on that.
That's why we haven't seen it going through the roof.
It's up a little bit every day, which is good,
but at the same time, we haven't seen any huge

(16:49):
spikes that you might normally expect when we have such
positive earning reports coming out.

Speaker 3 (16:54):
All right, Unlike copper, which is obviously a mandated necessary
you know, you can't live without it type of item.
Given all of the applications you put copper in. What
is it that we buy from the European Union that
is a must have item like copper. I mean, I
understand lumber coming from Canada that impacts housing. You gotta
have lumber, Gotta have copper for the pipes, gotta have
copper for the electrician, electritricity transmission lines, et cetera. You

(17:17):
can't do without it. Honestly, as much as I love Scotch,
I can do without it. If the price goes up
too high, I just won't buy it. So it's discretionary
versus mandatories. Where really the rubber hits the road, and
what are we getting from Europe that we consider mandatory
or desperately needed.

Speaker 2 (17:34):
Yeah, well, well, obviously, you know, Scott's deliveries to the
West side of Cincinnati are a major major indicator that
we watch to see, you know, exactly what's going on
between our relationships there. But now a lot of pharmaceuticals,
medicinal products that's about one hundred and twenty seven billion
dollars last year, a lot of nuclear equipment, boilers, engines,
things like that. And then of course there are vehicles

(17:55):
Mercedes BMW that there's still plenty of those on the
road over here. So it's much more industrial types of
things that's happened to be based elsewhere. But again, pharmaceuticals
are being the bigger one. Think of companies like Sanofi
and Bayar And we know we do not manufacture a
lot of our own drug share. That's one of the
things the current administration would like us to.

Speaker 3 (18:13):
Yeah, well, maybe we'll have some activity in that direction.

Speaker 2 (18:17):
Let's pause.

Speaker 3 (18:17):
When Brian James back about picking the right financial planner,
he's biased in that regard being a financial planner eight
twenty five right now fifty five KCD talk station.

Speaker 1 (18:25):
Fifty five KRC service.

Speaker 2 (18:28):
To America doesn't end when they're general nine.

Speaker 1 (18:31):
First warning weather forecast. Got some rain.

Speaker 3 (18:33):
There's a floodwatch in a fact that it ends at
eleven this morning. All the showers are storing possibilities and
around two pm eighty two are high today with clouds
over night. Clear sky is sixty five and mostly sunny.
Clear day tomorrow, fortunately not as humid, going up to
eighty five degrees. Clear sky's over night seventy three sunny. Yeah,
it will be sunny and also hot on Wednesday with

(18:53):
a highest ninety one degrees seventy four. Now, let's get
a traffic.

Speaker 1 (18:56):
Updates from the UC Health Traffic Center. See Health.

Speaker 5 (19:00):
You'll find comprehensive care that's so personal it and make
sure I best tomorrow possible.

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That's boundless care for better outcomes.

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Expect more you see help dot Com Crews continue to
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Speaker 3 (19:30):
A twenty nine ifif you have KRCD Talks Station one
more segment with Brian James f Whileworth Financial a financial
planner he is, so let's talk about financial planning. It's
really important to have someone in your corner working on
your side of the table and not for somebody else
when it comes to financial planning. Isn't that a premier
thing to think about when you're looking for a financial planner?

Speaker 2 (19:49):
Brian James, Well, yeah, and you're right, I am a
little bit biased here. There's a reason I chose to
get into this industry. And if the topic is what
we look for in a financial advisor, you want to
make sure that you're you're gonna learn something right. You
don't need the old approach. You know from twenty thirty
forty years ago, was somebody who can sell me some
kind of product. And I remember my dad and his
uncles and my uncles trading these these these people they

(20:13):
knew and it was always whoever got them the most
recent you know, good good hot stock tip. This is
in the eighties when there was really nothing more than
I want to throw money into something and watch it grow.
There wasn't a lot of thought of how do I,
how do I plan for taxes, how do I you know,
put all the puzzle pieces together. So you want to
make sure you're talking to somebody who is who is
going to teach you something, who's gonna look at your
situation and show it to you from a different point

(20:34):
of view, so that you can think about things that
you hadn't thought about before.

Speaker 3 (20:37):
That's really the key, Okay, And I think one of
the things that's always recommended by financial planners is get
a handle on what you spend money on throughout the year.
That's actually become a lot easier because you know, I'll get,
for example, from my master card at the end of
the year, I break down month to month and categories
about everything that I use my credit card for. It's

(20:57):
it's very eye opening, but it makes it really east
easy to figure out how much you charge in a
year and that you can apply to your once and
your what your needs might be in retirement.

Speaker 2 (21:07):
Yeah, that could become one of your goals, and that
should be one of your goals. Obviously we all have
our own ships. We need to keep a float. That's
where everything starts. And once you've got a handle on
what your current cash flow is and you kind of
nailed it if you're using credit cards, I think that's
a great idea. By the way, if you're somebody who's
responsible with credit cards, then get your rewards, pick something
that works for you, and then use the tools that

(21:27):
the credit card companies provide. But not everybody looks at.
They're buried in that website somewhere. Every time you swipe
that card, whatever that is is going to get categorized
as a restaurant, as a gas station, as whatever. So
you'll know exactly what it costs you just to keep
that ship afloat. Then, in addition to that, there are
other things you're doing. You've got a mortgage, you've got
some other things. There are places like Duke that don't
allow you to use your credit card. You're going to

(21:48):
look at your checking account for that. But that'll give
you your basic, your baseline of here's how much an income
we need to just keep the ship afloat. On top
of that, you can layer the things that you'll want
to do in retirement because you have more time. Perhaps
that's more travel, or maybe it's supporting the kids, grandkids,
so on and so forth.

Speaker 3 (22:04):
All right, and obviously things change over time. You hopefully
maybe once you reach retirement, don't have a mortgage that
you have to pay for.

Speaker 2 (22:12):
Well, it can be a decision, right, if you're somebody
who's you've got one of those two and a half
three percent mortgages, then you may want to maintain them.
Matter of fact, I would advise maintaining that, just make
the cash flow work for you. And some people a
lot of people hesitate on that because we kind of
get in our heads that well, someone else has to
give me money so that I can survive. Therefore my
entire budget has to be squished into my Social Security check. Meanwhile,

(22:33):
I'm going to ignore the two million dollar nest egg
that I've set aside. Rather than paying off the mortgage
in a lump, which would probably cost you a good
amount of taxes by liquidating the resources you would need
to do that, then simply start taking at least that
mortgage payment out. Just take it out on a monthly basis,
five days before the mortgage payment is due. All you've
done is build a money machine and then Again, this
is if you've got one of those two and a
half three percent mortgages, then maybe needs another five to

(22:55):
ten years to get paid off. Now a different situation
if you just move somewhere and l three four years.
Now you've got a you know, a twenty five years
left on a six percent mortgage. That's a different discussion.
But again, this is where a financial advisor can help
you see the impact of paying it all off in
a lump or perhaps meeting the middle ground and paying
a little more so that it's only got seven years
versus fifteen or something like that.

Speaker 3 (23:16):
Fair enough, And I know one of the points in
the article about choosing a financial planner, and this person's
initial you know, is walking through the process of arranging
with the financial planner paragraph caption. Advisors aren't just for
rich people. You will meet with people just starting out
in their careers, but they don't have a giant stack
of two hundred thousand dollars that they're ready to invest.

Speaker 2 (23:39):
Correct, Brian, Absolutely, we'll talk to anybody because the education
part of that's frankly what I enjoy the most. That
doesn't mean we necessarily have to have a formalized relationships necessarily,
But a lot of times all people really need is
some basic understanding. And I'll have many meetings with my
client's kids who are just getting started, and they hit,
you know, they hit on the big topics of I'm

(24:01):
putting money in my four one k am I putting
in enough? How do I decide whether to put money
on the traditional side versus the roth side? And should
I pay off this mortgage? There is a notion that
I shouldn't have any debt. All debt is evil? Should
I pay off this mortgage? Should I spend you know,
twenty years not saving anything because I want to get
this house paid off? The answered that is a hard no.
We got to do a little bit of everything. But yes,
some of these things are basic, just understanding what is

(24:23):
the impact of long term savings and what should I
expect out of the market in terms of ups and downs.
If I can arm somebody with that and they go
off for thirty years, they'll come back with a much
bigger puzzle for me to solve.

Speaker 3 (24:33):
Yeah, and I know we've had this conversation before going
back to the mortgage. Yeah, I did have a like
like three percent mortgage but ended up paying extra each
month to get it paid off. I hate debt, and
a mortgage to me is just one more debt I
owe somebody money. I don't like being in that position.
I know I could have made more in the market
had I left the market, like to you guys, to
invest or something more than the three percent that I'm

(24:55):
being charge in interest. But just from a comfort standpoint,
I'm that weird guy that I just I can't bide
owing someone money man now.

Speaker 2 (25:03):
And there's a I wouldn't call that weird. That's just
it's just a point of view, and there's nothing wrong
with it. I also happen to know that you have
a financial advisor behind you, and I know you went
through the process of, Okay, if we pay it off sooner,
the mortgage goes away sooner in our in our overall
assets look like this, versus if we if we simply
let it all go and pay off the mortgage as
minimally as possible, looks like that. And then you made

(25:23):
an educated decision that you were more comfortable with with
not having the mortgage in place, And that is perfectly
This is a perfectly rational way to do it. It's
not always about what what's the biggest number that falls
out of the bottom of the spreadsheet.

Speaker 3 (25:34):
Well, and the smartest thing you can do from a
financial standing standing plan point. Standing our financial planning standpoint, Brian,
out kick your coverage with your choice of spouse.

Speaker 2 (25:44):
That is that I've done that as well myself, and yeah,
that is a huge impact. If you're on the same
page with regard to money.

Speaker 3 (25:51):
Amen to that, Brian. Jay is always a pleasure to
have you on the program. Appreciate all with financial loaning
out for the segments, and I look forward to next Monday,
another edition of Money Monday.

Speaker 2 (25:58):
Have a good week, stay cool and you do the same.

Speaker 3 (26:00):
Eight thirty five Right now fifty five KRCIT Talk Station.
We'll talk to Deb Deb fromotor Exits should be on
next talk about how awesome those products are. So hang
on right back.

Speaker 2 (26:09):
This is fifty five KRC and iHeartRadio station.