April 1, 2025 • 38 mins
ICYMI: Hour One of ‘Later, with Mo’Kelly’ Presents – A look at what you SHOULD do if you won the $515 million Powerball jackpot lottery with Joel Larsgaard, co-host of ‘How to Money,’ heard every Sunday on KFI from 12 - 2 PM…PLUS – Thought’s on the insanity of a Pasadena Unified School District substitute school security officer accused of “duct-taping girl's mouth shut for 'talking too much' while on the playground” – on KFI AM 640…Live everywhere on the iHeartRadio app
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Episode Transcript
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Speaker 1 (00:22):
K if I am six forty, it's later with Mo Kelly.
We are live everywhere in the iHeartRadio app.
Speaker 2 (00:28):
Hanging around nothing to do but frown. Rainy days and
Mondays always.
Speaker 1 (00:36):
Get me down, Mark Runner, there was rain in my
part of the woods today.
Speaker 2 (00:44):
I wouldn't sit still for that if I were you. Oh,
thank you for that.
Speaker 1 (00:55):
Why is it raining on not only my weekend? But
I look at outside the window it looks like it's
getting ready to rain right now.
Speaker 3 (01:03):
What do you have to say for yourself? I don't
think you should tolerate it. I think you should demand
to see the manager.
Speaker 2 (01:09):
Go full Karen.
Speaker 3 (01:10):
Yeah, so tonight there is a chance of rain in
the Antelope Valley and the Inland Empire. But apart from that,
according to all the official sources, I think you and
your hair might be safe tonight.
Speaker 1 (01:24):
You didn't say anything about my area where I live,
and yet it was sprinkling yesterday, it was sprinkling sometime
earlier today.
Speaker 2 (01:31):
I just don't. I can't accept this. I will not
stand for this.
Speaker 3 (01:34):
No, I wouldn't either if I were a man of
your stature or whatever. You really shouldn't. It's unacceptable. According
to the National Weather Service tonight, we just should have
some clouds.
Speaker 2 (01:50):
But according to our wire service.
Speaker 3 (01:52):
Which zero's in on some specific locations, unless you're in
the A V or the IE, be able to go
ahead and do your oil paintings outdoors tonight.
Speaker 1 (02:03):
All right, then thank you for that anytime. I appreciate that.
Happy to help you. Almost sound somewhat sincere. No no, no,
please proceed and I will. We have a wonderful show
for you tonight. We got to talk about Powerball and
how it relates to southern California.
Speaker 2 (02:21):
Someone won.
Speaker 1 (02:21):
It wasn't me, it wasn't Twala, it wasn't Mark, it
wasn't anyone at CAFI. So I'm told again, so I'm
told I can't verify or validate. I just know producer
Michelle told us that we didn't win.
Speaker 2 (02:36):
Come on, and I will take her at her word.
But that's what she said.
Speaker 1 (02:42):
But we'll tell you at least according to the media,
the lamestream media, who actually won the power Ball and
it will sold at Anaheim.
Speaker 2 (02:52):
Michelle, you may need to call it to defend yourself. Lord. No no, no,
we're blocking out the calls. No no, no calls allowed.
And we have some Chipotle news. And here's a true story.
Speaker 1 (03:03):
For like the first year that I knew of Chipotle,
I called I called it Chipotle. As far as I
was concerned it was Chipotle. I didn't know it was
like a Mexican burrito restaurant. It just looked like Chipotle.
I never seen anything like Chipotle. There's no like accent
over the E. If there was an accent over the E,
then I think I would have recognized it.
Speaker 4 (03:21):
But all there is there is yeah in the logo,
there is an accent. Yes, yeah, no, yes, I promise you. No, no, no,
you're lying. That is how that is how we found
out it was Chipotle, Chipotle.
Speaker 2 (03:33):
Okay, it says Chipotle Mexican grill. I'm going to the website.
Look at the logo. I am looking at the logos
so tiny though it is tiny.
Speaker 1 (03:41):
No, see, there is there's nothing over the E. Oh,
there's nothing over the E. Your phones, I can show
you with it.
Speaker 2 (03:50):
There's nothing over the E on Chipotle.
Speaker 3 (03:52):
So suddenly you're like less massman trying to bash Chai
Chai rodrig Ways on w k RP in Cincinnati.
Speaker 2 (03:59):
Yes, tell me, okay, yes, no, not on this.
Speaker 4 (04:03):
But when they first came out with it the American Yes,
I think maybe they figured everyone new is Chipotle by now.
Speaker 1 (04:10):
From now on, it is Chipotle. And we have a
Chipotal update for everyone. If you're not going to spell
it in Spanish, I'm not going to pronounce it in Spanish.
And we have the top ten most stolen vehicles in
Southern California. See if your car is on the list
or not. Thank goodness, I looked at your list. Mine
is not as of yet. As of yet, and dying
(04:30):
Time is back. Some dumb ass got their self killed,
So we're going to talk about dumb people getting them
selves killed natural selection. And we got your horoscope as always,
and then at nine o'clock I'll be joined on the
show by Titus Welliver, the star of Bosh Legacy, of
course Harry Bosh himself. That's right at nine o'clock. You
(04:51):
don't want to miss that at all. And I tell
people my job is cooler than yours. This is one
of those times. This is just one of those times
I get to talk to people that I really like
as far as their their work.
Speaker 2 (05:03):
They're acting, and thank you Tula for helping set that up.
Speaker 1 (05:07):
It's hard work. It's not easy give credit where credit
is due. We had to develop these relationships over years.
So it's not just someone just says, hey, you want
to talk to Titus Wellerver. No, it doesn't work that way.
They want to know that you have a legitimate show,
that you have legitimate conversations. You're not going to embarrassed
the guests, you know something about the topic, you have
some sort of audience, you have some sort of credibility.
(05:29):
And they said it, so long as Mark Ronner doesn't
ask any questions, we'll give you Titus Weller.
Speaker 3 (05:33):
It makes perfect sense. Now, get Eddie Murphy Ace.
Speaker 1 (05:38):
Hold up, we all know that's not going to happen,
but I promise we'll do an experiment the next time
Eddie has anything coming out. In other words, he most
likely would be doing press or doing interviews the next
time he does. I'm going to send a pitch the
(06:00):
first segment of the show. And if you don't know,
the running joke is, whenever I send a request for
Eddie Murphy to come on the show, or any show,
anything that I've ever done, I usually get a response
from Arnold Robinson, his PR person, usually within an hour,
and it's always the same Eddie's not available. And I've
(06:20):
never even put like a potential time or day or place.
Speaker 2 (06:24):
It's always Eddie's not available.
Speaker 1 (06:26):
Then I started taking it personally, and I realized it
is personal. It is personal. You won't even have the
conversation with me. This has gone on for at least
a decade. I don't know what I've said about Eddie
to make him not like me or at least not
get past the gatekeeper. But I can't even get a
real honest response from Eddie's people. So the next time
(06:49):
something comes out, I'm going to send out the request
during the show so everyone can see this happen in
real time. And yes, I'll probably get a response inside
of an hour saying Eddie's not available.
Speaker 3 (07:02):
How are you with rejection in other aspects of your life? Mom,
I'll tell you the truth.
Speaker 1 (07:07):
Sometimes I do take it personally after a certain point.
I'm not a good salesperson. In other words, I'm not
good selling other people's products. I'm not good saying, hey,
buy this vacuum cleaner, or hey, I got this great
new microwave you just want to own, or hey, there
is this new TV set that your family would be
(07:27):
lost without. I'm not good with that. I'm better at
selling myself. I have an unflappable belief in myself. I'm
my own biggest cheerleader. It worked when I was growing
up in dating because the self confidence was not well placed.
There was no reason for it to be there. And
Toula knows what I'm talking about. If you have game,
(07:50):
if you can talk, you can get some action. Do
you have any stalking convictions on your record? No convictions,
just accusations, all right, just charges which were later dropped.
Speaker 2 (08:02):
No, no elephant, No, no, let's not put that out there.
Speaker 5 (08:10):
You're listening to later with Moe Kelly on demand from
KFI AM six forty.
Speaker 1 (08:15):
I didn't win the lottery, and neither did you. Neither
did Mark Sam who's in for Stefan. He didn't win either.
We're all pretty upset about that. But a ticket with
all six numbers and Saturday night's powerball drawing was sold
in Anaheim at a seven eleven, and the player has
the option. And we've discussed this before, and here's a
(08:37):
perfect example of why I am right. The winning person
has the option of receiving the five hundred and fifteen
million dollar jackpot in thirty installments. In other words, over
the course of thirty fricking years, I'd be eighty fricking
five if I'm lucky. If I'm lucky, or I could
(08:57):
have two hundred and forty three point eight million lumps payment.
Speaker 2 (09:00):
Before federal taxes.
Speaker 1 (09:01):
So let's just say fifty percent of that, let's say
one hundred and twenty two million after taxes. Do I
want one hundred and twenty two million now and then
be able to use it, spend it? I don't know,
donate it now or some one thirtieth approximation annuity and.
Speaker 2 (09:22):
Six zero point six million every year?
Speaker 1 (09:26):
No, no, no, no, no. I would rather have all
the money and live off the interests, which could be
I don't know, seven hundred thousand dollars.
Speaker 4 (09:37):
Sorry, it's over thirty years, yes, okay, no, I'm sorry.
Then it goes up seventeen point six million whatever.
Speaker 1 (09:42):
Seventeen point six hundred and twenty three is more than
seventeen I don't think there's really any debate here.
Speaker 2 (09:49):
What every year mil What does every year have to
do with anything?
Speaker 1 (09:55):
You think that I can't handle seventeen million dollars a
year and I need Mommy to hold onto my money,
put it in the piggy bag in the event that
I may run out of money.
Speaker 4 (10:04):
No, no, we're gonna put this aside so you don't
spend more than it wants to get more.
Speaker 1 (10:10):
One day, we're gonna pull out the whiteboard and just
do the math on this. Seventeen million each year for
thirty years is not going to accrue the amount of
interest that I would with one hundred and twenty two million,
And I can put the overwhelming majority of it in
the bank per se, you know, and invest it in
(10:30):
money market accounts or some sort of real estate venture
which could make it.
Speaker 3 (10:37):
Gain in value. To weally, you can't expect a man
like Modus create buy on seventeen million dollars a year. No, no, no, no, no,
I'm not talking about being apruval. It's not about scraping
bias like being able to make the choice. I'm not
trying to lead that the decision to anybody. I don't
want to be seventy two and then all of a
sudden someone diagnoses me with cognitive decline, and then I
(11:00):
lose power of attorney, and all of.
Speaker 2 (11:01):
A sudden someone else is making decisions. But no, I've
thought about this. Yes I have, Yes, I have.
Speaker 1 (11:08):
Man, what I suppose that it looked like I want
all control. It's gonna be like Brewster's millions up on
this mother father. I'm gonna spend all that before I die,
all of it, all of it, and I will gladly
end up on the on the front page of the
old landing page of the La Times. Idiot radio host
spends one hundred and twenty two million dollars in five years. Yes,
(11:31):
but he did it with a smile, and he loved
every minute of it. I'm not leaving anything for crumb
snatches or three generations removed who won't understand the value
of a dollar. Oh no, you owe them nothing, nothing, nothing,
not a not a damn thing on me. However, you're
gonna owe a couple of million? Are you saying that
(11:54):
you would take the annuity?
Speaker 3 (11:58):
I think I need to talk to somebody who's a
little better with economics than me. I'm not that's the
side of my brain that doesn't work at all. Oh,
I'm greedy.
Speaker 1 (12:07):
Put it this way, I know I can do something
with it now, as opposed to waiting until like five
presidents from now.
Speaker 3 (12:14):
By the La Times while you're at it, will damn you. Literally,
you couldn't pay me to buy a newspaper. That's the money.
That's not a good investment.
Speaker 1 (12:24):
No, sorry, not at this point, Sam, are you taking
the annuity of the lump sum?
Speaker 6 (12:28):
Lump sum? Give it to me all right now. I'm
not hesitating. Give it all all in Tawala. He's obviously
on the lump sum train. You know, Yeah, this is decisive.
Speaker 4 (12:38):
I just think it's worth investigating seventeen million years.
Speaker 1 (12:44):
You do know that you can take the whole amount
of money and then have a financial manager or put
it in the trust and then parcel that money out
to you if you're afraid of misusing it or spending it,
and then you could be on the proverbial allowance where
you can only have so much money at a time
if you're worried about squandering it.
Speaker 4 (13:05):
If I'm gonna do that, then I might as well
take the seventeen million if I'm gonna have it doled
out in for my own No.
Speaker 1 (13:11):
No, no, here's here's a difference. And I'm pretty sure
that annuity is not going to grow. In other words,
in year thirty is still going to be seventeen million.
But if I put one hundred million dollars in a
money market in twenty twenty five, I'm getting more than
seventeen million at that end of the thirty years. Assuming
I don't touch it along the way, you're gonna get
(13:32):
seventeen million regardless.
Speaker 2 (13:34):
Flat that's it.
Speaker 1 (13:35):
Your money in your hand can't make you any If
it's not in your hand, it can't make money for you.
Speaker 2 (13:40):
Now, that's all I'm saying. I'm greedy. No, No, I see
your point.
Speaker 3 (13:45):
It's like listening to George and Lenny from of Mice
and Men talking about I can see it, George, we're
gonna be living off the fat.
Speaker 2 (13:52):
Of the land.
Speaker 3 (13:52):
For some reason, I thought you're talking about Lennion Squiggy
from me, George of Lenny lennyon Squiggy six and one half.
Doesn't it your h It's the same thing, you know.
Speaker 1 (14:00):
Laverne is surely you know that's where my mind was. Okay, Twala,
you are you being serious right now? You actually would
not take the lump sum.
Speaker 4 (14:10):
I have heard arguments for both, and I think it's
worth investigating.
Speaker 3 (14:15):
M He'll spend it on a bunch of mansions. No,
I'm not going to be like the idiot who won
the money in Wait.
Speaker 2 (14:25):
You were dark Trump for a while till I was.
I learned.
Speaker 1 (14:31):
I learned my lesson the hard. Let you tell the story.
I'm just going to ask one question. At your peak,
how many properties did you own at my peak? I
had nine properties at my peak, and we had a
solid plan. But we got greedy and we did not
(14:53):
divest our properties properly at the right time. And when
those subprime loans, when subprime.
Speaker 2 (15:02):
Oh we lost it all bloom payments.
Speaker 4 (15:04):
Oh my god. It went from making the payments to Jesus,
So where is the bankruptcy cord at?
Speaker 2 (15:14):
It went from there to their very fast. I got it. Now,
you're okay.
Speaker 1 (15:19):
You are speaking from a standpoint of fear and history.
Speaker 2 (15:23):
It's not a standpoint of fear.
Speaker 4 (15:25):
It's a standpoint of having done research on this as
well as far as what you can do with the annuities,
more so long term and beyond you than you can
do with the lump sum.
Speaker 2 (15:39):
What is it you want to do with the money
beyond you? I want the.
Speaker 4 (15:43):
Money to last for years beyond me. I mean, look, hey,
you know we don't know what's gonna happen.
Speaker 1 (15:48):
You're gonna put this in a veritable savings account with
almost no interests, and you can't go wrong.
Speaker 4 (15:54):
You still can do this. You act like you can't
do that with seventeen million a year. Okay, let's say
it take seventeen million in the first year. That leaves
me one hundred and five million that I'm not going
to touch. You put that hundred and five million in
some sort of let me just make it real, dumb,
like a cd okay or a money market account. That
money is going to accrue interest exponentially. You will have
(16:18):
more money at the end of year one than you
had going in you and your seventeen point six million
every year, that's what it's going to be.
Speaker 1 (16:26):
It's not going to grow. You can't do anything with
it other than your seventeen point six million.
Speaker 2 (16:32):
But my hundred and how what is it?
Speaker 1 (16:36):
It takes seventeen one hundred and five million that I
put in some sort of investment account that's accruing interest
even if I don't touch it. And I'm relegating myself
to only air quotes only seventeen million a year and
I don't touch one hundred and five million, That one
hundred and five million might be one hundred and ten
at the end of of two years or something.
Speaker 2 (16:56):
This is a full proof plan.
Speaker 3 (16:57):
And be sure to hire one of those money managers
like you talked about, and they always turn outs interpreter
to get out of prison.
Speaker 4 (17:05):
Are going to bring someone on that. I'm booking someone
to get fine, fine, have him come.
Speaker 2 (17:13):
No, no, no.
Speaker 1 (17:14):
Let's text him right now. Let's see if he's available.
We get to the bottom.
Speaker 6 (17:18):
Said, the people who make that much money in general
are people who take chances a lot of times with
their money. So if you're a person who's not used
to having that level of money and you win the
lotto and you now are blessed with that level of money,
how financially irresponsibly do you really think you can be?
He's going to cover everything he owns with gold, everything,
(17:39):
like That's the thing. Most of the people who are
really financially irresponsible who lose all that money are people
who took chances trying to get all of that money.
Speaker 2 (17:47):
That's damn near everybody.
Speaker 6 (17:49):
But if you won the lotto, you didn't take very
many chances outside of putting in a buck hell. Your
means of living, your standards of living, are a little
bit lower at that point, So how financially irrespond do
you really think you're gonna be? Have you never watched
separated out over thirty years so that you can look,
so that you can make it. You obviously have never
(18:10):
watched how the lottery ruined my life. You have obviously
never watched how people can literally lose it all within
I don't know how much is that. Has the guy
who won the last lot of one all lost already
from spending in backet houses.
Speaker 2 (18:27):
I'm just saying, if you have any modern.
Speaker 4 (18:30):
More than probable, there are not there are There are
not enough mo Kelly's out here who win the lottery.
Most of them are like Edward or whatever his name is,
who lose it all within five years after winning five
hundred million.
Speaker 2 (18:42):
Okay, just because someone.
Speaker 1 (18:44):
Is an ass doesn't mean that I have to be
an ass like it's inevitable.
Speaker 2 (18:48):
I don't know if I'm I don't know if I'm
gonna be an ass.
Speaker 5 (18:52):
I don't know.
Speaker 2 (18:53):
We don't know what we're gonna do with the money.
Speaker 4 (18:54):
We could all turn to big A soles in a
minute once we win the money.
Speaker 3 (19:00):
Listen, there was a show back from when Moe was
in his thirties around nineteen fifty five called that is
called the Millionaire, and it's a story as old as time.
It's all about how every time he gives somebody a
million dollars, they act like nuts with it and they
destroy their own lives.
Speaker 1 (19:15):
All I can say is I could manage one thousand dollars,
I managed ten thousand dollars.
Speaker 2 (19:21):
I can manage hundred thousand dollars.
Speaker 1 (19:23):
I think I would have enough restraint to manage one
hundred and twenty two million. I believe because I don't look.
I think money's going to make you more of who
you are. If you don't live within your means now,
you're not going to live within your means later.
Speaker 2 (19:40):
Okay, no pun later with Mo Kelly.
Speaker 1 (19:42):
I'm just just saying, if you have no discipline now,
you won't have any discipline later. Anyone who knows me
knows that I don't have extravagant tastes. That's not going
to change because I have more money. I like living
within my means. I like the idea of only being
able to spend thirty five million.
Speaker 3 (20:00):
I have one hundred and twenty two million. Yeah, I'm
mirror thirty five million, say it right, a.
Speaker 1 (20:05):
MIRI, it's Later of Mo Kelly, Can if I answers
forty live everywhere the iHeartRadio app.
Speaker 2 (20:11):
Yes, they're all laughing with me, laughing with me.
Speaker 3 (20:16):
We need we need a preposition advisor as well as
a financial advisor.
Speaker 5 (20:22):
You're listening to Later with Moe Kelly on demand from
KFI AM six forty.
Speaker 1 (20:27):
Everyone remembers Saved by the Bell right Okay, there was
an actress who played Lisa Turtle Lark Vourheas Lark Vourheys
went to school with Twalla Shark. Twalla Sharp to this
day has nothing nice to say about her. What school
(20:51):
were you at at the time?
Speaker 4 (20:52):
I was at Marshall And and since learning of some
of the struggles that Lark has gone through, I have
changed my tone. Yes, because I do not want to
unjustly hold such vengeance such ill will towards a sister
(21:21):
from the town, okay, Pasadena, Pasadena.
Speaker 1 (21:27):
Who is.
Speaker 4 (21:29):
It's probably right now even if her family or friends
are listening saying they're talking about you. She's like, I
don't remember what I did to Tuala, but I remember
I remember the reason why I did not get to
March in the eighth grade graduation, while I was kicked
(21:50):
out of school and told I would never be anything
in life. It all has to do with her denial
of giving me a number two pencil for a and
putting me in a position to call such a ruckus
in the classroom.
Speaker 1 (22:06):
Let me ask you this, yes, as far as causing
such a rugus, has there ever been a teacher or
a student security guard who threatened to duct.
Speaker 2 (22:16):
Tape your mouth?
Speaker 4 (22:18):
I went to Blair High School in Pasadena, and at
Blair High School, I must admit I was not the
best of students, But I can tell you this while
at Blair, had any of the security at that school
(22:39):
at that time threatened to do anything close to putting
tape on my mouth, they would have been rat packed.
Me and my crew didn't play that.
Speaker 5 (22:49):
The family of a sixth grade student in Pasadena says
their daughter was duct tape at school for talking too much.
Speaker 4 (22:55):
Please are now looking into those allegations.
Speaker 2 (22:57):
MARCOA.
Speaker 7 (22:58):
Robas is here with Lauren investigation and what the girl's
father's saying tonight, Yeah.
Speaker 2 (23:02):
David and Allen.
Speaker 7 (23:03):
The girl's family is demanding justice, even calling for the
arrest of the former school security officer involved in this incident.
The girl and the Lemmi Hurtado stood alongside her father
this afternoon to share their side of what happened. Heurtato
was sixth grader at Blair Middle School into Pasadena. They
alleged this past Wednesday, she was forced by a female
security guard to duck tape her own mouth because she was,
(23:24):
as you mentioned, talking too much on the playground.
Speaker 1 (23:28):
Wait, on the playground, on the playground, talking too much
on the play We're we're not talking about in class.
We're not talking about during a test, We're not talking
about anything having to do with actual school.
Speaker 2 (23:39):
We're talking about on the playground.
Speaker 7 (23:42):
They alleged this past Wednesday, she was forced by a
female security guard to duc tape her own mouth because
she was, as you mentioned, talking too much on the playground.
Speaker 2 (23:52):
They say.
Speaker 7 (23:52):
She was then paraded from the school office across the
campus to her next class with the duct tape still on.
Local activist Najia now fighting alongside the family.
Speaker 2 (24:02):
I wish a mother father would with my child.
Speaker 1 (24:04):
I wish, I wish, And according to the story, it
was a substitute security officer, not even the main one.
Speaker 2 (24:12):
It was just the one passing through for the day.
Speaker 4 (24:15):
Look, I was told to leave school and to never
come back at Blair because of allegations, because of just
me being at a school where I was not like
damn it okay, And the principal said, mister Sharp, you're
(24:37):
a nuisance and a danger to the student body, and
I want.
Speaker 2 (24:41):
You out of here. But did they duck take your mouth?
Speaker 4 (24:44):
No one at that school, not a single teacher, not
a single principle, not a single security guard, has ever
thought it a good idea to come near me with
their hands outstretched, as if they were even going to
touch me.
Speaker 2 (24:58):
All right, let me.
Speaker 1 (24:59):
I don't want to make too personal, but I think
it's relevant to ask in a real world sense.
Speaker 2 (25:04):
You are a father.
Speaker 1 (25:06):
You have a daughter who's now in high school yep,
but not much older than someone in a situation like this,
if you, as a parent, were to receive a call
from either your daughter or the school saying, mister Sharp,
there was an incident in which maybe we thought your
daughter was not behaving accordingly, and so steps were taken
(25:29):
to put duct tape on her mouth because she was
making too much noise or being disruptive on the playground.
We need you to come up to the school to
help us sort this out.
Speaker 2 (25:39):
He's going to the trunk.
Speaker 4 (25:40):
Yeah, No, I don't know who's gonna need bell first,
me or her mother. I'm not sure which someone's going
to jail. One of us is going to need bell, Sam, Yes,
what say you?
Speaker 2 (25:55):
Father?
Speaker 6 (25:56):
Well, I mean I got a high school daughter. If
that happened with her, I there's no level of I
can't even describe how pissed I would be. I would
go ballistic, And I've gone ballistic on a school for
stuff that happened with one of my kids and it
(26:16):
wasn't pretty well.
Speaker 2 (26:17):
There are levels to this one.
Speaker 1 (26:19):
The fact that you would think duct tape was an
appropriate response to anything.
Speaker 2 (26:24):
That's the first thing.
Speaker 1 (26:25):
When you phrase it like that, Yeah, at least having
to do with kids.
Speaker 3 (26:28):
Okay, next year, you're gonna rule out super glue. Right, Look,
you're you're right next door.
Speaker 1 (26:34):
Then you have it where you're parading her across campus.
Speaker 2 (26:38):
Has to somehow shame her in front of it. So
it's not like there aren't witnesses. Everybody saw it. You
got to set an example, clearly. That was the goal.
Speaker 1 (26:46):
Right, you're trying to embarrass the child in front of
the school. Then you're gonna have her, I guess sitting
in the office administration building for a while until she
figures out what she did wrong.
Speaker 2 (26:56):
All I know is.
Speaker 1 (27:00):
Not only is someone going to jail, someone is going
to be harmed before I go to jail.
Speaker 3 (27:07):
There's no other way. Yeah, yeah, yeah, definitely the harm.
But yeah, if times have changed with all this stuff.
And when we were in school, we had things inflicted
on us that nobody would ever dream of today, starting
with putting your hands on on the students, or you know,
like getting paddled. I had a pet like I think
my fifth grade teacher picked me up by the hair once,
(27:28):
or the thing where the teacher pounds on your chest
with your finger with his finger and if you if
you laugh, you get it even worse.
Speaker 1 (27:35):
But since times have changed, we all understand what the
rules are.
Speaker 2 (27:39):
Okay.
Speaker 1 (27:40):
I've had my knuckles hit with a ruler because I
wasn't holding my pencil correctly. And you're not even a Catholic. Look,
this was a public school, you know. Thank you, miss
Trevor for helping me with that. I write very beautifully
cursive now I don't not that I use it anymore,
But there were different expectations in today's world.
Speaker 6 (27:59):
You'd don't touch people's kids, period. Every one of the
things that you mentioned all of us. The situations where
we got punished by some authority figure in school happened
in a classroom. This one was on the playground. Yeah,
who could be making too much noise? Talking too much
on a freaking playground. The kid must have said something
that specifically pissed off that one security guard, and then
(28:22):
that was it.
Speaker 2 (28:23):
Maybe, But the story the security guard.
Speaker 1 (28:25):
Was telling was talk too much, not said some expletive,
not said something racial, not said some sort of insult
to another kid or another adult or administrator.
Speaker 2 (28:36):
Talk too much. I'm upset. I don't even have daughters.
Speaker 4 (28:39):
I have gone down to my daughter's campus and gone
ballistic for far less for them not allowing her to
go back into her locker to get her cell phone,
and I had been trying to call and get a
hold of her. I have gone down there, both me
and her mother, when there was one teacher who decided
to single her out repeatedly, and we took issue in
(29:01):
numbers because she is the only African American child in
the class and for some reason other. She always had
to be the one to get singled out and and
and scolded. Even that point was where the principle in
between us said, hey, you know what, let's let's let's
just end this meeting because this is not going the
right direction. And mister sharp wis, we see that you
(29:24):
are beyond agitated right now, agitated. You're pounding on the
desk and seems you're let's just let's just start. Let's
just leave this all alone. Let's just say for one
woo woo, Usa, Usa, Usa, let's all just walk away.
That is that that is just for what I deem
disrespect and disregard towards my child. This this is a
(29:49):
whole another level. That's why I said, I don't know
who's gonna need the bail first, my my co parent
or me, but you're going to jail, yeah, and it
may be her because this is like get her hot.
Speaker 1 (30:02):
Oh lord, when we come back, Joel Larsgard of how
the money with Joel Larsguard is going to join us
on the line.
Speaker 2 (30:08):
He needs to settle something for us.
Speaker 1 (30:09):
We were talking about the lottery a little bit earlier,
whether we should take the lump sum or take the annuity.
Joel is going to settle this for us, and if
he doesn't side with me, I'm hanging up on him.
It's Later with Mike Kelly KFIM six forty Live Everywhere,
the iHeartRadio app.
Speaker 5 (30:23):
You're listening to Later with Moe Kelly on demand from
KFI AM six forty.
Speaker 1 (30:28):
Earlier in the show, we were talking about the five
hundred and fifteen million dollar Powerball winner and the ticket
was sold at Anaheim seven to eleven. Make a long
story short, I said I would take the lump sum
of two hundred and forty three point eight million before Texas.
I said, it was like maybe one hundred and twenty
two million in my pocket. Twalla Sharp said he would
(30:50):
want the annuity of seventeen million per year.
Speaker 2 (30:53):
Mark he was just being an instigator. I don't know
what he would do.
Speaker 3 (30:56):
No, it's important that you get some help to solve
this problem that none of us are ever going to face.
Speaker 2 (31:02):
You're not wrong, and that help is here.
Speaker 1 (31:05):
Joel Larsguard, host of How the Money with Joel Larsguard
here on KFI every Sunday from noon to two pm.
Speaker 2 (31:12):
Joel, my brother, how are you?
Speaker 8 (31:15):
I'm good?
Speaker 2 (31:15):
No, how are you man, I'm doing well.
Speaker 1 (31:17):
Did I set it up clear enough for you to
understand what this debate is?
Speaker 8 (31:21):
For sure? And I think the last point stands the
likelihood of any of us seeing that kind of money, Yeah,
don't bet on it.
Speaker 2 (31:30):
All right?
Speaker 1 (31:31):
If you happen to have the option to take the
lump sum or the annuity, and we estimated to be
about seventeen point six million dollars per year as opposed
to one hundred and twenty two million, which we think
the lump sum would be after taxes, what would you
do and how would you go about it after getting
the money?
Speaker 2 (31:52):
Okay?
Speaker 8 (31:53):
So I would take the lump sum. And the reason
I would take the lump sum is because I believe
that money would be better off in my hands. Yes,
I would, that I would be able to invest it,
that I would do wise things with the money, and
and I wouldn't. I mean, when you look at what
those TV shows this uff what happens to lottery winners,
(32:14):
The vast majority of the go bankrupt because they get
those those dollars signs in their eyeballs and they're not
used to handling that Combs money. And I'm certainly not
used to handling money to that extent, But still I
feel like I have enough of like a money work
ethic that I would be able to handle that lump sum,
do smart stuff with it, and not let it go
to my head. That being said, I don't know that
(32:35):
that's the advice I would give to most people.
Speaker 1 (32:37):
Let me ask you, then, what would be the upside
of either having an annuity other than you don't spend
all the money at once, or having a lump sum
and being able to invest in What types of things
would you consider?
Speaker 8 (32:51):
So? I think when it comes to when you look
at the numbers, right, if you get the if you
get the lump sum, you're essentially taking half the amount
of money. But it's kind of like what Ho Sho
hey O Tani did with the Dodgers, where he's saying, hey, listen,
pay me that money later, but I'm going to get it.
I'm going to get a larger sum. I think there
is yeah, they taking that deferred money, and there's something
(33:12):
about to guarantee as a human that's a really nice
thing to have because if especially if you feel like
you don't know how to handle the money, you're not
great at planning, you don't you feel nervous about investing
then taking the kind of guaranteed things so that you
don't outpace your spending and spend money that you don't
actually have. That could be wise, right, you got that
(33:33):
new influx come in every single year. But if you
are somebody who feels comfortable and you're saying, I don't,
I'm not going to overdo it, And you know what,
I can earn a better return by investing even just
like a conservative investment. Let's say a sixty forty portfolio.
I'm investing in something like a target date fund for
roughly kind of the data I retire. You don't have
to go in some sort of like all stock portfolio.
(33:54):
But if you're just picking something like that that's a
little bit more balanced, then you will, over time, at
least according to the historic stock market, you will certainly
most definitely outpace the amount of money you would have
gotten had you waited and taken the annuitized payout.
Speaker 1 (34:09):
I was saying, and I'm just putting in real basic terms,
let's say I'm not going to have a stock portfolio.
I just say I could put it in a money market.
I could put a in some sort of saving account
with a guaranteed rate of interest and just let it
sit and I only take you know, twenty million a
year or something, and I'm still coming out in front,
aren't I.
Speaker 8 (34:29):
I mean that's where if you're only saving the money,
then you might not come out ahead because I think
the annuity essentially it works out to roughly like a
five percent return every year on on the money that
you are, so I will, well, you're you're essentially instead
of taking that haircut, the half the you know, the
half amount of haircut. I think that's why the annuity
(34:50):
overall over thirty years works out to being twice as
much as the lumps some payout, right, So I think
that's essentially assuming something like a five percent rate of return. Okay,
so if you were sticking it in a savings account
earning three to four percent, you're likely going to underperform.
And so that's where you have to take a little
bit of risk with some of that money if you
want to see it, you know, if you want to
(35:10):
see it grow at a rate that's faster than what
the annuitized payout would be. And then again you're also
taking on more risk by having it in your hands.
So there is something too the idea, and that's why
people do turn toto annuities, especially in retirement, or that's
why social security is so helpful. So even if you
have save or invested some of your own money, it's
that guarantee that really does provide people a lot of
(35:31):
peace of mind because if social security didn't exist, and hey,
all of your retirements coming from this portfolio that's ninety
percent invested in stocks, and then some presidents are talking
about tariffs and the stock market starts going down and
you're like, wait a second, I banked on this money
being there. That's where annuities, I think for a lot
of people can help write the ship, and they can
help provide a lot of that emotional calm as well
as that kind of steady monthly income.
Speaker 2 (35:53):
Twell would just like to compliment you on agreeing with me. Well, no, no,
that's not what I'm about. Sorry.
Speaker 4 (36:00):
What I was going to throw in is I would
say that the majority of people who win the lottery,
as small as that number is, there are only a fraction,
and I mean the smallest fraction of that who have
the mindset of both you and MO. Most everyone else
(36:23):
is someone like me, who would thought he was black
Trump back in the day and would buy property that
he could not possibly afford, and so when that went
belly up, lost everything. I think that is how most
of us are. Most of us would get a hold
of that money and it would be burning a hole
in our pocket and we would be the next contestant
on how.
Speaker 2 (36:43):
The lottery lost our lives.
Speaker 4 (36:44):
That is why I said for the safe bedding for
most everyone else who doesn't think like Mo, the genius
that he is and the money magnet that he is,
most of us are just like, ah, man, here's what
I'm gonna do with the money.
Speaker 2 (36:57):
I'm gonna buy three full houses.
Speaker 4 (36:59):
I'm gonna buy fifty cars, all the same color because
you know they're going to go up and value. Most
of us think like that, and that's the problem with
many of us getting that money.
Speaker 2 (37:08):
All up front.
Speaker 8 (37:10):
Well, And that's that's why I said, like, what I
would do is actually different from what I would recommend
people do, because I do think I think you're spot
on that there is there's a lot of people out
there who would see that kind of money. And it's
documented too from previous lottery weathers. It's so sad. How
many of them get that influx of money, they spend
a bunch of it, and then they're like, wait a second,
(37:31):
I owe property taxes on that, like twenty million dollar mansion.
I just spot, Oh crap, I spent all the money.
I can't pay the property taxes, home gets fore clothes on.
There are way too many of those kinds of stories,
so I don't want to tell people like, hey, do
what I would do. I'll tell you what I would do,
but then I shall also say, well, you got to
know yourself, because for some people, you know, taking the
lump sum, you're you're liable to like frigg it away
(37:53):
much more quickly and leave yourself in a much worse,
much worse spot, much more vulnerable spot.
Speaker 1 (37:57):
Joe Lawsguard Out of Money with Joel Larsguard here on
KFI every Sunday from twelve to two pm. Joel, thank
you so much for coming on and sharing all your
knowledge and reaffirming everything that I already believed and already knew,
and telling me I was right, solved.
Speaker 2 (38:10):
That problem just in time.
Speaker 8 (38:12):
Always happy to do it.
Speaker 1 (38:14):
Talk to you soon, My friend is Later with bo
Kelly k IF I am six forty We're live everywhere
di I Heart Radio app.
Speaker 2 (38:18):
What the hell is going on? Well, we're about to
tell you. KFI and the kost HD two Los Angeles.
Larenge Cown live everywhere on the Younger Radio app
K if I am six forty, it's later with Mo Kelly.
We are live everywhere in the iHeartRadio app.
Speaker 2 (00:28):
Hanging around nothing to do but frown. Rainy days and
Mondays always.
Speaker 1 (00:36):
Get me down, Mark Runner, there was rain in my
part of the woods today.
Speaker 2 (00:44):
I wouldn't sit still for that if I were you. Oh,
thank you for that.
Speaker 1 (00:55):
Why is it raining on not only my weekend? But
I look at outside the window it looks like it's
getting ready to rain right now.
Speaker 3 (01:03):
What do you have to say for yourself? I don't
think you should tolerate it. I think you should demand
to see the manager.
Speaker 2 (01:09):
Go full Karen.
Speaker 3 (01:10):
Yeah, so tonight there is a chance of rain in
the Antelope Valley and the Inland Empire. But apart from that,
according to all the official sources, I think you and
your hair might be safe tonight.
Speaker 1 (01:24):
You didn't say anything about my area where I live,
and yet it was sprinkling yesterday, it was sprinkling sometime
earlier today.
Speaker 2 (01:31):
I just don't. I can't accept this. I will not
stand for this.
Speaker 3 (01:34):
No, I wouldn't either if I were a man of
your stature or whatever. You really shouldn't. It's unacceptable. According
to the National Weather Service tonight, we just should have
some clouds.
Speaker 2 (01:50):
But according to our wire service.
Speaker 3 (01:52):
Which zero's in on some specific locations, unless you're in
the A V or the IE, be able to go
ahead and do your oil paintings outdoors tonight.
Speaker 1 (02:03):
All right, then thank you for that anytime. I appreciate that.
Happy to help you. Almost sound somewhat sincere. No no, no,
please proceed and I will. We have a wonderful show
for you tonight. We got to talk about Powerball and
how it relates to southern California.
Speaker 2 (02:21):
Someone won.
Speaker 1 (02:21):
It wasn't me, it wasn't Twala, it wasn't Mark, it
wasn't anyone at CAFI. So I'm told again, so I'm
told I can't verify or validate. I just know producer
Michelle told us that we didn't win.
Speaker 2 (02:36):
Come on, and I will take her at her word.
But that's what she said.
Speaker 1 (02:42):
But we'll tell you at least according to the media,
the lamestream media, who actually won the power Ball and
it will sold at Anaheim.
Speaker 2 (02:52):
Michelle, you may need to call it to defend yourself. Lord. No no, no,
we're blocking out the calls. No no, no calls allowed.
And we have some Chipotle news. And here's a true story.
Speaker 1 (03:03):
For like the first year that I knew of Chipotle,
I called I called it Chipotle. As far as I
was concerned it was Chipotle. I didn't know it was
like a Mexican burrito restaurant. It just looked like Chipotle.
I never seen anything like Chipotle. There's no like accent
over the E. If there was an accent over the E,
then I think I would have recognized it.
Speaker 4 (03:21):
But all there is there is yeah in the logo,
there is an accent. Yes, yeah, no, yes, I promise you. No, no, no,
you're lying. That is how that is how we found
out it was Chipotle, Chipotle.
Speaker 2 (03:33):
Okay, it says Chipotle Mexican grill. I'm going to the website.
Look at the logo. I am looking at the logos
so tiny though it is tiny.
Speaker 1 (03:41):
No, see, there is there's nothing over the E. Oh,
there's nothing over the E. Your phones, I can show
you with it.
Speaker 2 (03:50):
There's nothing over the E on Chipotle.
Speaker 3 (03:52):
So suddenly you're like less massman trying to bash Chai
Chai rodrig Ways on w k RP in Cincinnati.
Speaker 2 (03:59):
Yes, tell me, okay, yes, no, not on this.
Speaker 4 (04:03):
But when they first came out with it the American Yes,
I think maybe they figured everyone new is Chipotle by now.
Speaker 1 (04:10):
From now on, it is Chipotle. And we have a
Chipotal update for everyone. If you're not going to spell
it in Spanish, I'm not going to pronounce it in Spanish.
And we have the top ten most stolen vehicles in
Southern California. See if your car is on the list
or not. Thank goodness, I looked at your list. Mine
is not as of yet. As of yet, and dying
(04:30):
Time is back. Some dumb ass got their self killed,
So we're going to talk about dumb people getting them
selves killed natural selection. And we got your horoscope as always,
and then at nine o'clock I'll be joined on the
show by Titus Welliver, the star of Bosh Legacy, of
course Harry Bosh himself. That's right at nine o'clock. You
(04:51):
don't want to miss that at all. And I tell
people my job is cooler than yours. This is one
of those times. This is just one of those times
I get to talk to people that I really like
as far as their their work.
Speaker 2 (05:03):
They're acting, and thank you Tula for helping set that up.
Speaker 1 (05:07):
It's hard work. It's not easy give credit where credit
is due. We had to develop these relationships over years.
So it's not just someone just says, hey, you want
to talk to Titus Wellerver. No, it doesn't work that way.
They want to know that you have a legitimate show,
that you have legitimate conversations. You're not going to embarrassed
the guests, you know something about the topic, you have
some sort of audience, you have some sort of credibility.
(05:29):
And they said it, so long as Mark Ronner doesn't
ask any questions, we'll give you Titus Weller.
Speaker 3 (05:33):
It makes perfect sense. Now, get Eddie Murphy Ace.
Speaker 1 (05:38):
Hold up, we all know that's not going to happen,
but I promise we'll do an experiment the next time
Eddie has anything coming out. In other words, he most
likely would be doing press or doing interviews the next
time he does. I'm going to send a pitch the
(06:00):
first segment of the show. And if you don't know,
the running joke is, whenever I send a request for
Eddie Murphy to come on the show, or any show,
anything that I've ever done, I usually get a response
from Arnold Robinson, his PR person, usually within an hour,
and it's always the same Eddie's not available. And I've
(06:20):
never even put like a potential time or day or place.
Speaker 2 (06:24):
It's always Eddie's not available.
Speaker 1 (06:26):
Then I started taking it personally, and I realized it
is personal. It is personal. You won't even have the
conversation with me. This has gone on for at least
a decade. I don't know what I've said about Eddie
to make him not like me or at least not
get past the gatekeeper. But I can't even get a
real honest response from Eddie's people. So the next time
(06:49):
something comes out, I'm going to send out the request
during the show so everyone can see this happen in
real time. And yes, I'll probably get a response inside
of an hour saying Eddie's not available.
Speaker 3 (07:02):
How are you with rejection in other aspects of your life? Mom,
I'll tell you the truth.
Speaker 1 (07:07):
Sometimes I do take it personally after a certain point.
I'm not a good salesperson. In other words, I'm not
good selling other people's products. I'm not good saying, hey,
buy this vacuum cleaner, or hey, I got this great
new microwave you just want to own, or hey, there
is this new TV set that your family would be
(07:27):
lost without. I'm not good with that. I'm better at
selling myself. I have an unflappable belief in myself. I'm
my own biggest cheerleader. It worked when I was growing
up in dating because the self confidence was not well placed.
There was no reason for it to be there. And
Toula knows what I'm talking about. If you have game,
(07:50):
if you can talk, you can get some action. Do
you have any stalking convictions on your record? No convictions,
just accusations, all right, just charges which were later dropped.
Speaker 2 (08:02):
No, no elephant, No, no, let's not put that out there.
Speaker 5 (08:10):
You're listening to later with Moe Kelly on demand from
KFI AM six forty.
Speaker 1 (08:15):
I didn't win the lottery, and neither did you. Neither
did Mark Sam who's in for Stefan. He didn't win either.
We're all pretty upset about that. But a ticket with
all six numbers and Saturday night's powerball drawing was sold
in Anaheim at a seven eleven, and the player has
the option. And we've discussed this before, and here's a
(08:37):
perfect example of why I am right. The winning person
has the option of receiving the five hundred and fifteen
million dollar jackpot in thirty installments. In other words, over
the course of thirty fricking years, I'd be eighty fricking
five if I'm lucky. If I'm lucky, or I could
(08:57):
have two hundred and forty three point eight million lumps payment.
Speaker 2 (09:00):
Before federal taxes.
Speaker 1 (09:01):
So let's just say fifty percent of that, let's say
one hundred and twenty two million after taxes. Do I
want one hundred and twenty two million now and then
be able to use it, spend it? I don't know,
donate it now or some one thirtieth approximation annuity and.
Speaker 2 (09:22):
Six zero point six million every year?
Speaker 1 (09:26):
No, no, no, no, no. I would rather have all
the money and live off the interests, which could be
I don't know, seven hundred thousand dollars.
Speaker 4 (09:37):
Sorry, it's over thirty years, yes, okay, no, I'm sorry.
Then it goes up seventeen point six million whatever.
Speaker 1 (09:42):
Seventeen point six hundred and twenty three is more than
seventeen I don't think there's really any debate here.
Speaker 2 (09:49):
What every year mil What does every year have to
do with anything?
Speaker 1 (09:55):
You think that I can't handle seventeen million dollars a
year and I need Mommy to hold onto my money,
put it in the piggy bag in the event that
I may run out of money.
Speaker 4 (10:04):
No, no, we're gonna put this aside so you don't
spend more than it wants to get more.
Speaker 1 (10:10):
One day, we're gonna pull out the whiteboard and just
do the math on this. Seventeen million each year for
thirty years is not going to accrue the amount of
interest that I would with one hundred and twenty two million,
And I can put the overwhelming majority of it in
the bank per se, you know, and invest it in
(10:30):
money market accounts or some sort of real estate venture
which could make it.
Speaker 3 (10:37):
Gain in value. To weally, you can't expect a man
like Modus create buy on seventeen million dollars a year. No, no, no, no, no,
I'm not talking about being apruval. It's not about scraping
bias like being able to make the choice. I'm not
trying to lead that the decision to anybody. I don't
want to be seventy two and then all of a
sudden someone diagnoses me with cognitive decline, and then I
(11:00):
lose power of attorney, and all of.
Speaker 2 (11:01):
A sudden someone else is making decisions. But no, I've
thought about this. Yes I have, Yes, I have.
Speaker 1 (11:08):
Man, what I suppose that it looked like I want
all control. It's gonna be like Brewster's millions up on
this mother father. I'm gonna spend all that before I die,
all of it, all of it, and I will gladly
end up on the on the front page of the
old landing page of the La Times. Idiot radio host
spends one hundred and twenty two million dollars in five years. Yes,
(11:31):
but he did it with a smile, and he loved
every minute of it. I'm not leaving anything for crumb
snatches or three generations removed who won't understand the value
of a dollar. Oh no, you owe them nothing, nothing, nothing,
not a not a damn thing on me. However, you're
gonna owe a couple of million? Are you saying that
(11:54):
you would take the annuity?
Speaker 3 (11:58):
I think I need to talk to somebody who's a
little better with economics than me. I'm not that's the
side of my brain that doesn't work at all. Oh,
I'm greedy.
Speaker 1 (12:07):
Put it this way, I know I can do something
with it now, as opposed to waiting until like five
presidents from now.
Speaker 3 (12:14):
By the La Times while you're at it, will damn you. Literally,
you couldn't pay me to buy a newspaper. That's the money.
That's not a good investment.
Speaker 1 (12:24):
No, sorry, not at this point, Sam, are you taking
the annuity of the lump sum?
Speaker 6 (12:28):
Lump sum? Give it to me all right now. I'm
not hesitating. Give it all all in Tawala. He's obviously
on the lump sum train. You know, Yeah, this is decisive.
Speaker 4 (12:38):
I just think it's worth investigating seventeen million years.
Speaker 1 (12:44):
You do know that you can take the whole amount
of money and then have a financial manager or put
it in the trust and then parcel that money out
to you if you're afraid of misusing it or spending it,
and then you could be on the proverbial allowance where
you can only have so much money at a time
if you're worried about squandering it.
Speaker 4 (13:05):
If I'm gonna do that, then I might as well
take the seventeen million if I'm gonna have it doled
out in for my own No.
Speaker 1 (13:11):
No, no, here's here's a difference. And I'm pretty sure
that annuity is not going to grow. In other words,
in year thirty is still going to be seventeen million.
But if I put one hundred million dollars in a
money market in twenty twenty five, I'm getting more than
seventeen million at that end of the thirty years. Assuming
I don't touch it along the way, you're gonna get
(13:32):
seventeen million regardless.
Speaker 2 (13:34):
Flat that's it.
Speaker 1 (13:35):
Your money in your hand can't make you any If
it's not in your hand, it can't make money for you.
Speaker 2 (13:40):
Now, that's all I'm saying. I'm greedy. No, No, I see
your point.
Speaker 3 (13:45):
It's like listening to George and Lenny from of Mice
and Men talking about I can see it, George, we're
gonna be living off the fat.
Speaker 2 (13:52):
Of the land.
Speaker 3 (13:52):
For some reason, I thought you're talking about Lennion Squiggy
from me, George of Lenny lennyon Squiggy six and one half.
Doesn't it your h It's the same thing, you know.
Speaker 1 (14:00):
Laverne is surely you know that's where my mind was. Okay, Twala,
you are you being serious right now? You actually would
not take the lump sum.
Speaker 4 (14:10):
I have heard arguments for both, and I think it's
worth investigating.
Speaker 3 (14:15):
M He'll spend it on a bunch of mansions. No,
I'm not going to be like the idiot who won
the money in Wait.
Speaker 2 (14:25):
You were dark Trump for a while till I was.
I learned.
Speaker 1 (14:31):
I learned my lesson the hard. Let you tell the story.
I'm just going to ask one question. At your peak,
how many properties did you own at my peak? I
had nine properties at my peak, and we had a
solid plan. But we got greedy and we did not
(14:53):
divest our properties properly at the right time. And when
those subprime loans, when subprime.
Speaker 2 (15:02):
Oh we lost it all bloom payments.
Speaker 4 (15:04):
Oh my god. It went from making the payments to Jesus,
So where is the bankruptcy cord at?
Speaker 2 (15:14):
It went from there to their very fast. I got it. Now,
you're okay.
Speaker 1 (15:19):
You are speaking from a standpoint of fear and history.
Speaker 2 (15:23):
It's not a standpoint of fear.
Speaker 4 (15:25):
It's a standpoint of having done research on this as
well as far as what you can do with the annuities,
more so long term and beyond you than you can
do with the lump sum.
Speaker 2 (15:39):
What is it you want to do with the money
beyond you? I want the.
Speaker 4 (15:43):
Money to last for years beyond me. I mean, look, hey,
you know we don't know what's gonna happen.
Speaker 1 (15:48):
You're gonna put this in a veritable savings account with
almost no interests, and you can't go wrong.
Speaker 4 (15:54):
You still can do this. You act like you can't
do that with seventeen million a year. Okay, let's say
it take seventeen million in the first year. That leaves
me one hundred and five million that I'm not going
to touch. You put that hundred and five million in
some sort of let me just make it real, dumb,
like a cd okay or a money market account. That
money is going to accrue interest exponentially. You will have
(16:18):
more money at the end of year one than you
had going in you and your seventeen point six million
every year, that's what it's going to be.
Speaker 1 (16:26):
It's not going to grow. You can't do anything with
it other than your seventeen point six million.
Speaker 2 (16:32):
But my hundred and how what is it?
Speaker 1 (16:36):
It takes seventeen one hundred and five million that I
put in some sort of investment account that's accruing interest
even if I don't touch it. And I'm relegating myself
to only air quotes only seventeen million a year and
I don't touch one hundred and five million, That one
hundred and five million might be one hundred and ten
at the end of of two years or something.
Speaker 2 (16:56):
This is a full proof plan.
Speaker 3 (16:57):
And be sure to hire one of those money managers
like you talked about, and they always turn outs interpreter
to get out of prison.
Speaker 4 (17:05):
Are going to bring someone on that. I'm booking someone
to get fine, fine, have him come.
Speaker 2 (17:13):
No, no, no.
Speaker 1 (17:14):
Let's text him right now. Let's see if he's available.
We get to the bottom.
Speaker 6 (17:18):
Said, the people who make that much money in general
are people who take chances a lot of times with
their money. So if you're a person who's not used
to having that level of money and you win the
lotto and you now are blessed with that level of money,
how financially irresponsibly do you really think you can be?
He's going to cover everything he owns with gold, everything,
(17:39):
like That's the thing. Most of the people who are
really financially irresponsible who lose all that money are people
who took chances trying to get all of that money.
Speaker 2 (17:47):
That's damn near everybody.
Speaker 6 (17:49):
But if you won the lotto, you didn't take very
many chances outside of putting in a buck hell. Your
means of living, your standards of living, are a little
bit lower at that point, So how financially irrespond do
you really think you're gonna be? Have you never watched
separated out over thirty years so that you can look,
so that you can make it. You obviously have never
(18:10):
watched how the lottery ruined my life. You have obviously
never watched how people can literally lose it all within
I don't know how much is that. Has the guy
who won the last lot of one all lost already
from spending in backet houses.
Speaker 2 (18:27):
I'm just saying, if you have any modern.
Speaker 4 (18:30):
More than probable, there are not there are There are
not enough mo Kelly's out here who win the lottery.
Most of them are like Edward or whatever his name is,
who lose it all within five years after winning five
hundred million.
Speaker 2 (18:42):
Okay, just because someone.
Speaker 1 (18:44):
Is an ass doesn't mean that I have to be
an ass like it's inevitable.
Speaker 2 (18:48):
I don't know if I'm I don't know if I'm
gonna be an ass.
Speaker 5 (18:52):
I don't know.
Speaker 2 (18:53):
We don't know what we're gonna do with the money.
Speaker 4 (18:54):
We could all turn to big A soles in a
minute once we win the money.
Speaker 3 (19:00):
Listen, there was a show back from when Moe was
in his thirties around nineteen fifty five called that is
called the Millionaire, and it's a story as old as time.
It's all about how every time he gives somebody a
million dollars, they act like nuts with it and they
destroy their own lives.
Speaker 1 (19:15):
All I can say is I could manage one thousand dollars,
I managed ten thousand dollars.
Speaker 2 (19:21):
I can manage hundred thousand dollars.
Speaker 1 (19:23):
I think I would have enough restraint to manage one
hundred and twenty two million. I believe because I don't look.
I think money's going to make you more of who
you are. If you don't live within your means now,
you're not going to live within your means later.
Speaker 2 (19:40):
Okay, no pun later with Mo Kelly.
Speaker 1 (19:42):
I'm just just saying, if you have no discipline now,
you won't have any discipline later. Anyone who knows me
knows that I don't have extravagant tastes. That's not going
to change because I have more money. I like living
within my means. I like the idea of only being
able to spend thirty five million.
Speaker 3 (20:00):
I have one hundred and twenty two million. Yeah, I'm
mirror thirty five million, say it right, a.
Speaker 1 (20:05):
MIRI, it's Later of Mo Kelly, Can if I answers
forty live everywhere the iHeartRadio app.
Speaker 2 (20:11):
Yes, they're all laughing with me, laughing with me.
Speaker 3 (20:16):
We need we need a preposition advisor as well as
a financial advisor.
Speaker 5 (20:22):
You're listening to Later with Moe Kelly on demand from
KFI AM six forty.
Speaker 1 (20:27):
Everyone remembers Saved by the Bell right Okay, there was
an actress who played Lisa Turtle Lark Vourheas Lark Vourheys
went to school with Twalla Shark. Twalla Sharp to this
day has nothing nice to say about her. What school
(20:51):
were you at at the time?
Speaker 4 (20:52):
I was at Marshall And and since learning of some
of the struggles that Lark has gone through, I have
changed my tone. Yes, because I do not want to
unjustly hold such vengeance such ill will towards a sister
(21:21):
from the town, okay, Pasadena, Pasadena.
Speaker 1 (21:27):
Who is.
Speaker 4 (21:29):
It's probably right now even if her family or friends
are listening saying they're talking about you. She's like, I
don't remember what I did to Tuala, but I remember
I remember the reason why I did not get to
March in the eighth grade graduation, while I was kicked
(21:50):
out of school and told I would never be anything
in life. It all has to do with her denial
of giving me a number two pencil for a and
putting me in a position to call such a ruckus
in the classroom.
Speaker 1 (22:06):
Let me ask you this, yes, as far as causing
such a rugus, has there ever been a teacher or
a student security guard who threatened to duct.
Speaker 2 (22:16):
Tape your mouth?
Speaker 4 (22:18):
I went to Blair High School in Pasadena, and at
Blair High School, I must admit I was not the
best of students, But I can tell you this while
at Blair, had any of the security at that school
(22:39):
at that time threatened to do anything close to putting
tape on my mouth, they would have been rat packed.
Me and my crew didn't play that.
Speaker 5 (22:49):
The family of a sixth grade student in Pasadena says
their daughter was duct tape at school for talking too much.
Speaker 4 (22:55):
Please are now looking into those allegations.
Speaker 2 (22:57):
MARCOA.
Speaker 7 (22:58):
Robas is here with Lauren investigation and what the girl's
father's saying tonight, Yeah.
Speaker 2 (23:02):
David and Allen.
Speaker 7 (23:03):
The girl's family is demanding justice, even calling for the
arrest of the former school security officer involved in this incident.
The girl and the Lemmi Hurtado stood alongside her father
this afternoon to share their side of what happened. Heurtato
was sixth grader at Blair Middle School into Pasadena. They
alleged this past Wednesday, she was forced by a female
security guard to duck tape her own mouth because she was,
(23:24):
as you mentioned, talking too much on the playground.
Speaker 1 (23:28):
Wait, on the playground, on the playground, talking too much
on the play We're we're not talking about in class.
We're not talking about during a test, We're not talking
about anything having to do with actual school.
Speaker 2 (23:39):
We're talking about on the playground.
Speaker 7 (23:42):
They alleged this past Wednesday, she was forced by a
female security guard to duc tape her own mouth because
she was, as you mentioned, talking too much on the playground.
Speaker 2 (23:52):
They say.
Speaker 7 (23:52):
She was then paraded from the school office across the
campus to her next class with the duct tape still on.
Local activist Najia now fighting alongside the family.
Speaker 2 (24:02):
I wish a mother father would with my child.
Speaker 1 (24:04):
I wish, I wish, And according to the story, it
was a substitute security officer, not even the main one.
Speaker 2 (24:12):
It was just the one passing through for the day.
Speaker 4 (24:15):
Look, I was told to leave school and to never
come back at Blair because of allegations, because of just
me being at a school where I was not like
damn it okay, And the principal said, mister Sharp, you're
(24:37):
a nuisance and a danger to the student body, and
I want.
Speaker 2 (24:41):
You out of here. But did they duck take your mouth?
Speaker 4 (24:44):
No one at that school, not a single teacher, not
a single principle, not a single security guard, has ever
thought it a good idea to come near me with
their hands outstretched, as if they were even going to
touch me.
Speaker 2 (24:58):
All right, let me.
Speaker 1 (24:59):
I don't want to make too personal, but I think
it's relevant to ask in a real world sense.
Speaker 2 (25:04):
You are a father.
Speaker 1 (25:06):
You have a daughter who's now in high school yep,
but not much older than someone in a situation like this,
if you, as a parent, were to receive a call
from either your daughter or the school saying, mister Sharp,
there was an incident in which maybe we thought your
daughter was not behaving accordingly, and so steps were taken
(25:29):
to put duct tape on her mouth because she was
making too much noise or being disruptive on the playground.
We need you to come up to the school to
help us sort this out.
Speaker 2 (25:39):
He's going to the trunk.
Speaker 4 (25:40):
Yeah, No, I don't know who's gonna need bell first,
me or her mother. I'm not sure which someone's going
to jail. One of us is going to need bell, Sam, Yes,
what say you?
Speaker 2 (25:55):
Father?
Speaker 6 (25:56):
Well, I mean I got a high school daughter. If
that happened with her, I there's no level of I
can't even describe how pissed I would be. I would
go ballistic, And I've gone ballistic on a school for
stuff that happened with one of my kids and it
(26:16):
wasn't pretty well.
Speaker 2 (26:17):
There are levels to this one.
Speaker 1 (26:19):
The fact that you would think duct tape was an
appropriate response to anything.
Speaker 2 (26:24):
That's the first thing.
Speaker 1 (26:25):
When you phrase it like that, Yeah, at least having
to do with kids.
Speaker 3 (26:28):
Okay, next year, you're gonna rule out super glue. Right, Look,
you're you're right next door.
Speaker 1 (26:34):
Then you have it where you're parading her across campus.
Speaker 2 (26:38):
Has to somehow shame her in front of it. So
it's not like there aren't witnesses. Everybody saw it. You
got to set an example, clearly. That was the goal.
Speaker 1 (26:46):
Right, you're trying to embarrass the child in front of
the school. Then you're gonna have her, I guess sitting
in the office administration building for a while until she
figures out what she did wrong.
Speaker 2 (26:56):
All I know is.
Speaker 1 (27:00):
Not only is someone going to jail, someone is going
to be harmed before I go to jail.
Speaker 3 (27:07):
There's no other way. Yeah, yeah, yeah, definitely the harm.
But yeah, if times have changed with all this stuff.
And when we were in school, we had things inflicted
on us that nobody would ever dream of today, starting
with putting your hands on on the students, or you know,
like getting paddled. I had a pet like I think
my fifth grade teacher picked me up by the hair once,
(27:28):
or the thing where the teacher pounds on your chest
with your finger with his finger and if you if
you laugh, you get it even worse.
Speaker 1 (27:35):
But since times have changed, we all understand what the
rules are.
Speaker 2 (27:39):
Okay.
Speaker 1 (27:40):
I've had my knuckles hit with a ruler because I
wasn't holding my pencil correctly. And you're not even a Catholic. Look,
this was a public school, you know. Thank you, miss
Trevor for helping me with that. I write very beautifully
cursive now I don't not that I use it anymore,
But there were different expectations in today's world.
Speaker 6 (27:59):
You'd don't touch people's kids, period. Every one of the
things that you mentioned all of us. The situations where
we got punished by some authority figure in school happened
in a classroom. This one was on the playground. Yeah,
who could be making too much noise? Talking too much
on a freaking playground. The kid must have said something
that specifically pissed off that one security guard, and then
(28:22):
that was it.
Speaker 2 (28:23):
Maybe, But the story the security guard.
Speaker 1 (28:25):
Was telling was talk too much, not said some expletive,
not said something racial, not said some sort of insult
to another kid or another adult or administrator.
Speaker 2 (28:36):
Talk too much. I'm upset. I don't even have daughters.
Speaker 4 (28:39):
I have gone down to my daughter's campus and gone
ballistic for far less for them not allowing her to
go back into her locker to get her cell phone,
and I had been trying to call and get a
hold of her. I have gone down there, both me
and her mother, when there was one teacher who decided
to single her out repeatedly, and we took issue in
(29:01):
numbers because she is the only African American child in
the class and for some reason other. She always had
to be the one to get singled out and and
and scolded. Even that point was where the principle in
between us said, hey, you know what, let's let's let's
just end this meeting because this is not going the
right direction. And mister sharp wis, we see that you
(29:24):
are beyond agitated right now, agitated. You're pounding on the
desk and seems you're let's just let's just start. Let's
just leave this all alone. Let's just say for one
woo woo, Usa, Usa, Usa, let's all just walk away.
That is that that is just for what I deem
disrespect and disregard towards my child. This this is a
(29:49):
whole another level. That's why I said, I don't know
who's gonna need the bail first, my my co parent
or me, but you're going to jail, yeah, and it
may be her because this is like get her hot.
Speaker 1 (30:02):
Oh lord, when we come back, Joel Larsgard of how
the money with Joel Larsguard is going to join us
on the line.
Speaker 2 (30:08):
He needs to settle something for us.
Speaker 1 (30:09):
We were talking about the lottery a little bit earlier,
whether we should take the lump sum or take the annuity.
Joel is going to settle this for us, and if
he doesn't side with me, I'm hanging up on him.
It's Later with Mike Kelly KFIM six forty Live Everywhere,
the iHeartRadio app.
Speaker 5 (30:23):
You're listening to Later with Moe Kelly on demand from
KFI AM six forty.
Speaker 1 (30:28):
Earlier in the show, we were talking about the five
hundred and fifteen million dollar Powerball winner and the ticket
was sold at Anaheim seven to eleven. Make a long
story short, I said I would take the lump sum
of two hundred and forty three point eight million before Texas.
I said, it was like maybe one hundred and twenty
two million in my pocket. Twalla Sharp said he would
(30:50):
want the annuity of seventeen million per year.
Speaker 2 (30:53):
Mark he was just being an instigator. I don't know
what he would do.
Speaker 3 (30:56):
No, it's important that you get some help to solve
this problem that none of us are ever going to face.
Speaker 2 (31:02):
You're not wrong, and that help is here.
Speaker 1 (31:05):
Joel Larsguard, host of How the Money with Joel Larsguard
here on KFI every Sunday from noon to two pm.
Speaker 2 (31:12):
Joel, my brother, how are you?
Speaker 8 (31:15):
I'm good?
Speaker 2 (31:15):
No, how are you man, I'm doing well.
Speaker 1 (31:17):
Did I set it up clear enough for you to
understand what this debate is?
Speaker 8 (31:21):
For sure? And I think the last point stands the
likelihood of any of us seeing that kind of money, Yeah,
don't bet on it.
Speaker 2 (31:30):
All right?
Speaker 1 (31:31):
If you happen to have the option to take the
lump sum or the annuity, and we estimated to be
about seventeen point six million dollars per year as opposed
to one hundred and twenty two million, which we think
the lump sum would be after taxes, what would you
do and how would you go about it after getting
the money?
Speaker 2 (31:52):
Okay?
Speaker 8 (31:53):
So I would take the lump sum. And the reason
I would take the lump sum is because I believe
that money would be better off in my hands. Yes,
I would, that I would be able to invest it,
that I would do wise things with the money, and
and I wouldn't. I mean, when you look at what
those TV shows this uff what happens to lottery winners,
(32:14):
The vast majority of the go bankrupt because they get
those those dollars signs in their eyeballs and they're not
used to handling that Combs money. And I'm certainly not
used to handling money to that extent, But still I
feel like I have enough of like a money work
ethic that I would be able to handle that lump sum,
do smart stuff with it, and not let it go
to my head. That being said, I don't know that
(32:35):
that's the advice I would give to most people.
Speaker 1 (32:37):
Let me ask you, then, what would be the upside
of either having an annuity other than you don't spend
all the money at once, or having a lump sum
and being able to invest in What types of things
would you consider?
Speaker 8 (32:51):
So? I think when it comes to when you look
at the numbers, right, if you get the if you
get the lump sum, you're essentially taking half the amount
of money. But it's kind of like what Ho Sho
hey O Tani did with the Dodgers, where he's saying, hey, listen,
pay me that money later, but I'm going to get it.
I'm going to get a larger sum. I think there
is yeah, they taking that deferred money, and there's something
(33:12):
about to guarantee as a human that's a really nice
thing to have because if especially if you feel like
you don't know how to handle the money, you're not
great at planning, you don't you feel nervous about investing
then taking the kind of guaranteed things so that you
don't outpace your spending and spend money that you don't
actually have. That could be wise, right, you got that
(33:33):
new influx come in every single year. But if you
are somebody who feels comfortable and you're saying, I don't,
I'm not going to overdo it, And you know what,
I can earn a better return by investing even just
like a conservative investment. Let's say a sixty forty portfolio.
I'm investing in something like a target date fund for
roughly kind of the data I retire. You don't have
to go in some sort of like all stock portfolio.
(33:54):
But if you're just picking something like that that's a
little bit more balanced, then you will, over time, at
least according to the historic stock market, you will certainly
most definitely outpace the amount of money you would have
gotten had you waited and taken the annuitized payout.
Speaker 1 (34:09):
I was saying, and I'm just putting in real basic terms,
let's say I'm not going to have a stock portfolio.
I just say I could put it in a money market.
I could put a in some sort of saving account
with a guaranteed rate of interest and just let it
sit and I only take you know, twenty million a
year or something, and I'm still coming out in front,
aren't I.
Speaker 8 (34:29):
I mean that's where if you're only saving the money,
then you might not come out ahead because I think
the annuity essentially it works out to roughly like a
five percent return every year on on the money that
you are, so I will, well, you're you're essentially instead
of taking that haircut, the half the you know, the
half amount of haircut. I think that's why the annuity
(34:50):
overall over thirty years works out to being twice as
much as the lumps some payout, right, So I think
that's essentially assuming something like a five percent rate of return. Okay,
so if you were sticking it in a savings account
earning three to four percent, you're likely going to underperform.
And so that's where you have to take a little
bit of risk with some of that money if you
want to see it, you know, if you want to
(35:10):
see it grow at a rate that's faster than what
the annuitized payout would be. And then again you're also
taking on more risk by having it in your hands.
So there is something too the idea, and that's why
people do turn toto annuities, especially in retirement, or that's
why social security is so helpful. So even if you
have save or invested some of your own money, it's
that guarantee that really does provide people a lot of
(35:31):
peace of mind because if social security didn't exist, and hey,
all of your retirements coming from this portfolio that's ninety
percent invested in stocks, and then some presidents are talking
about tariffs and the stock market starts going down and
you're like, wait a second, I banked on this money
being there. That's where annuities, I think for a lot
of people can help write the ship, and they can
help provide a lot of that emotional calm as well
as that kind of steady monthly income.
Speaker 2 (35:53):
Twell would just like to compliment you on agreeing with me. Well, no, no,
that's not what I'm about. Sorry.
Speaker 4 (36:00):
What I was going to throw in is I would
say that the majority of people who win the lottery,
as small as that number is, there are only a fraction,
and I mean the smallest fraction of that who have
the mindset of both you and MO. Most everyone else
(36:23):
is someone like me, who would thought he was black
Trump back in the day and would buy property that
he could not possibly afford, and so when that went
belly up, lost everything. I think that is how most
of us are. Most of us would get a hold
of that money and it would be burning a hole
in our pocket and we would be the next contestant
on how.
Speaker 2 (36:43):
The lottery lost our lives.
Speaker 4 (36:44):
That is why I said for the safe bedding for
most everyone else who doesn't think like Mo, the genius
that he is and the money magnet that he is,
most of us are just like, ah, man, here's what
I'm gonna do with the money.
Speaker 2 (36:57):
I'm gonna buy three full houses.
Speaker 4 (36:59):
I'm gonna buy fifty cars, all the same color because
you know they're going to go up and value. Most
of us think like that, and that's the problem with
many of us getting that money.
Speaker 2 (37:08):
All up front.
Speaker 8 (37:10):
Well, And that's that's why I said, like, what I
would do is actually different from what I would recommend
people do, because I do think I think you're spot
on that there is there's a lot of people out
there who would see that kind of money. And it's
documented too from previous lottery weathers. It's so sad. How
many of them get that influx of money, they spend
a bunch of it, and then they're like, wait a second,
(37:31):
I owe property taxes on that, like twenty million dollar mansion.
I just spot, Oh crap, I spent all the money.
I can't pay the property taxes, home gets fore clothes on.
There are way too many of those kinds of stories,
so I don't want to tell people like, hey, do
what I would do. I'll tell you what I would do,
but then I shall also say, well, you got to
know yourself, because for some people, you know, taking the
lump sum, you're you're liable to like frigg it away
(37:53):
much more quickly and leave yourself in a much worse,
much worse spot, much more vulnerable spot.
Speaker 1 (37:57):
Joe Lawsguard Out of Money with Joel Larsguard here on
KFI every Sunday from twelve to two pm. Joel, thank
you so much for coming on and sharing all your
knowledge and reaffirming everything that I already believed and already knew,
and telling me I was right, solved.
Speaker 2 (38:10):
That problem just in time.
Speaker 8 (38:12):
Always happy to do it.
Speaker 1 (38:14):
Talk to you soon, My friend is Later with bo
Kelly k IF I am six forty We're live everywhere
di I Heart Radio app.
Speaker 2 (38:18):
What the hell is going on? Well, we're about to
tell you. KFI and the kost HD two Los Angeles.
Larenge Cown live everywhere on the Younger Radio app
Later, with Mo'Kelly News
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