Financial Issues - 08.25.2025

Episode Transcript

Speaker 1 (00:04):
Welcome to Financial Issues, where we join reality with.

Speaker 2 (00:13):
Well.

Speaker 1 (00:13):
Good morning, folks, Welcome to Financial Issues. It's great to
be here with you all today. Back here Monday, August
twenty fifth. Good to be here with you all, folks.
I'm excited to be here with you. Sethy Dinsky, Sam Case,
the studio a team. Hey, we got a busy show today.
Good start to the week. Jason McDowell is going to
join me shortly actually to discuss an important and often

(00:34):
overlooked aspect of your financial and estate planning process, which
is simply just keeping your plan up to date. I
think that's something we don't always we don't often think about.
We talk a lot about starting that plan, we don't
often talk about keeping it going, and so we're going
to talk about that a little bit. I'm looking forward
to that. Also, the markets. They were just on Cloud
nine on Friday, following a blessing from what would be

(00:55):
could be the final Jackson Hole Summit speech from our
Lord Father Jerome Powell. I'll see how just a moment, Sam,
It's going to be fun. Also your questions in comments,
speaking of which, folks, I did want to share something
with you that's a little bit different. Our phone lines
are open today six ten three six three eleven ten.
Phone lines are actually open right now. Here's the reason.
We had a great comment last week about social security

(01:17):
that we are going to address on the air later
on the show. I know it's become kind of a
running joke almost. My stance on social security has certainly
garnered some rather strong responses.

Speaker 3 (01:28):
I think, yeah, both so others are now run.

Speaker 1 (01:32):
Yeah, some people really agree, some people really disagree. I
would like to give you all the opportunity if you
would like to come on the air and share your
opinion about social security. Maybe it's different than mine. Maybe
you want to yell at me, Maybe you just want
to tell me, well, listen, this isn't you're not even
you're not thinking about this in the right way. I
want to give you the chance to do that, folks.
So the phone line is going to be open for
the whole show, and you're welcome to do that at

(01:52):
six ten three six three eleven ten. Whether you agree
or disagree, join the conversation. I'd love to talk to
you about this against six' ten three three eleven. TEN
i thought it would be worthwhile to do this because
we've now spoken about this TOPIC i think twice in
the last several, months and each time it's generated pretty strong,
responses with some responses being very opposing to my response to.

(02:15):
It so, again do you dare to reiterate what your
controversial opinion, is just you know what to prime the? Call,
Yeah i'll go ahead and do it right. Now, no it's, okay, listen.
Folks i've said this before And i'll say it. AGAIN
i think Social security needs to go. AWAY i really.
DO i fully understand that we have people in our
audience who are On Social security right. Now you paid
into this, Thing sam AND i have talked about this

(02:35):
before THAT i believe it's a government handout. System it's
certainly not a handout in the sense of being a,
charity but it is a handout in the sense of
you pay into it and then at some point in
the future of the government hands out a tiny little
portion of it to you and to everyone else who's
on the. SYSTEM i think it reeks of socialism and
different things like. That and as we'll get into later On,
sam there's some things THAT i haven't said about it

(02:57):
yet That i'd like to share as. Well just when
it comes to our heart pattern when we look at social.
Security so. Listen it's a tricky, conversation BUT i want
to invite you to join. It if you've got qualms
about What i've, said call in six, ten three sixty,
three eleven ten the phone numbers. Open i'd love to
talk to you about it and get to hear your
thoughts on. It, well, folks let's open up. HERE i
do want to remind you please pray for the hundreds

(03:19):
of thousands of children today who will be entering public,
Schools christian, schools homeschools starting their school, years many of
them starting. TODAY i know some don't start until After
Labor day and some others have actually already, started but
the bulk of students start. Today many of our districts
started today as. WELL i have several teachers who started
today with their. Students So i'd urge, you, folks just

(03:39):
pray For christian teachers to be able to shepherd the
hearts of their, children even in places where it's not.
ALLOWED i, think Especially christian teachers in public, schools that
is such a tough spot for you to be. In
if you're A christian teacher in a public, school know how.
Appreciated you are as, well because you know you have
a mandate to shepherd these young souls to Love. Christ
but also, many many public schools forbid you to do,

(04:00):
that with the threat of you losing your job if
you do. So So pray that These christian teachers would
be able to stand strong regardless and for the protection
of these little ones as, well not only, physically BUT
i think even more so against the dangerous demonic doctrines
that are taught in so many of these government funded.
Institutions pray that The lord would capture their hearts and
that they would not be swayed one way or the

(04:22):
other by these demonic. DOCTRINES i know many students starting,
today perhaps you're out, there you have, kids grandkids who
are starting. Today know that they're in our, prayers all, Right.
Sam big news to kick off the show Was powell's
likely Final Jackson hole summit. Speech what can you tell
us about this? One? Sam From, Friday well got.

Speaker 3 (04:37):
The marcus pretty, excited, Right. Seth you had said that
at the open end of the, show and that is
because our dear Friend Jerome powell gave a, tepid, squeamish
lukewarm response to interest rate, cuts saying, yeah they're probably,
likely maybe coming In. September here's that.

Speaker 4 (04:54):
Clip in the near, term risks to inflation are tilted
to the upside and risks to employment to the, downside
a challenging situation when our goals are intentioned like. This
our framework calls for us to balance both sides of
our dual. Mandate our policy rate is now one hundred
basis points closer to neutral than it was a year,

(05:15):
ago and the stability of the unemployment rate and other
labor market measures allows us to proceed carefully as we
consider changes to our policy. Stance, nonetheless with policy and restrictive,
territory the baseline outlook and the shifting balance of risks
may warrant adjusting our policy, Stance. Martarie policy is not

(05:37):
on a preset. COURSE fomc members will make these decisions
based solely on their assessment of the data and its
implications for the economic outlook and the balance of. Risks
we will never deviate from that. Approach, oh nov.

Speaker 3 (05:53):
Here maybe perhaps a backhand comment About President. Trump they're,
saying we're only going to look at the, data perhaps
reading between the, lines but he could be saying we're
not going to listen To Donald trump about.

Speaker 1 (06:04):
This so what do you think of? It seems like, That,
sam very. Interesting you, know As i've previously, Stated, SAM
i simply don't Think Jerome palell has any choice in the.
MATTER i think this was as close as he was
going to get to saying that rate cuts are going
to happen In. September evidently the markets seem to think
that he was just coming out and saying that rate
cuts are going to. Happen BUT i don't think he
has any. CHOICE i think he has to cut. Rates

(06:25):
he's not in an easy position because here's the. Deal
if he cuts, rates his public image as a heroic
bulwark against the ever coming tide of the Bully Donald
trump may be. Harmed of, Course i'm speaking tongue in cheek.
THERE i don't Think Donald trump is a bully at,
all but there are probably many who See jerome pal
as kind of almost a. Hero he's standing up Against Donald.
Trump on the other, hand if he decides not to cut,

(06:49):
rates it will basically undercut all of his Claims sam
that THE fed is, independent because we will then begin
to realize that it actually does have to do with
agendas and feelings and emotions and things like. THAT i
think we would now see what we kind of know
the writing on the wall to be that The Federal
reserve sometimes does make decisions based on personal. Grudges sometimes

(07:09):
it makes decisions based on whoever happens to be THE
fed chair right, now. Fedhair Jerome pal has a, tiff
as we'd call, it what we call, it sam a,
tiff a, tussle whatever ONE i.

Speaker 3 (07:19):
Like, tiff that might be a good.

Speaker 1 (07:20):
One he is sparring With Donald trump right, now AND
i have to wonder if maybe that has seeped into
his decision making a little. Bit who? Knows so, true,
folks you, know there is something truly, DANGEROUS i think
to how we see the markets react to. This we'll
get to that.

Speaker 3 (07:36):
Momentarily and that's part of the problem he is to, consider,
too is that the market's pretty much have baked this.
In they are almost certain that there is going to
be a rate, cut if not multiple this. Year so
if he doesn't do, it that's also going to have
economic consequences as, well and wouldn't really make him look
like a, hero though he might look like a, hero
as you said in the eyes of some of the
left to see him as kind of a vanguard Against

(07:59):
Donald trump exactly.

Speaker 1 (08:00):
Exactly you, Know, SAM i think one of the big
lessons we can get from this is that there's serious
danger in investing with your. Emotions and we see this right.
HERE i mean the the the. Markets last, week they
were waiting with baited breath to see What pal. Said
this week It's nvidia's earnings. Report so there's always. Something
there's always something that the markets are looking to hang
their their every being. On and, really, FOLKS i Think,

(08:25):
jensen who's going to be the? Savior who's gonna be the?
Savior we already have a, savior, Folks his Names Jesus.
Christ the wise investor seeks to get in and stays
in for, decades knowing that there's going to be turbulence
with the. News there's going to be ups and, downs
all sorts of that. Stuff sam AND i are learning
this right now as we're in our early stages of.
Investing just to stay, focused to not get too bogged

(08:46):
down with the numbers and the directions and all that.
Stuff the wise investor gets in and stays. In AND
i think that with a biblically responsible. Mindset those two,
things that's the recipe for a winning. STRATEGY i, REALLY
i really do. Believe so so as it Sits, palell
what do we. Say Sam powell was, Pensive he was
a little bit looked, horned.

Speaker 3 (09:06):
Sweamish Kind but all THOSE i was looking up all
the synonyms before the, Show so those were the ONES i.

Speaker 1 (09:11):
Remember they're all summing up that he's creeping towards a
rate cut In september is really what we're. Seeing so
that's what it's looking. Like let's move to the markets, now.
Folks of, course they did react to this When pale
essentially gave investors permission to hope, again the major indices.
Popped they were just having a. Party they made a
legitimate effort to make up most of the ground they
lost last. Week by the, way all three going, off

(09:33):
each of them flirting with two percent gains at some.
Point By friday's closing, Bell the Dal jones finished just
below two percent, Positive it did hit a new. Record
THE s AND p five hundred was one and a
half percent. Positive The nasdaq also up near two full
percentage points for the week Ending august twenty, Second The
Dow jones and THE s AND p five hundred each closed.
Positively that The Dow jones was by far the most

(09:55):
resilient index of the, week finished right around one and
a half percentage. Points The nasdaq was the lone loser last,
week but Even friday's gains really kind of erased a
lot of that was down right around a half percentage.
Point THE smb five hundred finished up about a third
of a percentage point pre markets this. Morning, again AS i,
said the next thing that they're focused on Is nvidia's earnings,

(10:15):
call which comes out later on this. Week it's gonna
be after the bell On, wednesday so they're putting all
their hopes, there and because of, that they're feeling a little.
Nervous once. Again i'm sure we might see some selloffs From,
friday but they're feeling slightly, pensive as we said, Earlier,
sam a little bit. Tepid so The dow is down
three tenths right, now THE smp down a, quarter and
The nasdaq is down a. Third all, right, folks more
coming on the other side of this. Break jason McDowell

(10:37):
joins me to talk about the steps you need to
take to keep your financial plan up to. Date don't miss.
That looking forward to Have jason. On we'll be right
back After this.

Speaker 3 (11:04):
Security is offered THROUGH Ga repel And, company a registered
Broker dealer And Investment advisor MEMBER finra AND. Sipc opinions
expressed By shanna are hers alone and are for informational
purposes only and do not necessarily represent those OF Ga
repel or the outlet on what you are. Listening you
should consider how the information applies to your situation prior
to personally implementing, it and consult any financial professional you

(11:27):
work with to make sure it's applicable to your financial.

Speaker 1 (11:30):
Plan, folks you heard that disclaimer. There of course that
applies To, shanna but it also applies to one of
our very dear friends who comes on the show once a,
week AND i have the privilege of getting to interview
him this, Time jason. McDowell, jason welcome, back. Brother it's
great to have.

Speaker 5 (11:46):
You thank, you happy to be.

Speaker 1 (11:48):
Here, YEAH i always look forward to the opportunities that
we get to do. This, Listen shanna has fun getting
to do this with, you but you know, WHAT i
want some of the fun, Me So i'm excited to
get to do. It, brother we have a good, Time.
Jason for TODAY'S i think it'd be good for us
to hear some of your wisdom on the key aspects
of setting and also self examining your financial. Plan i'm

(12:08):
excited to hear we have to say about, That, jason
BECAUSE i know for, ME i need to hear that
a lot to not just set it and forget, it
but understand. That, hey you know what life. Happens things,
change people, move your address, changes different things like. That
you have, children as you AND i both, Know, jason
being young young. Fathers So i'll just open it up
for you, here, brother how do we do? This, well
how do we set the plan but then to continue

(12:30):
to self examine?

Speaker 5 (12:30):
It, well, yeah we're going to.

Speaker 2 (12:32):
Go through and you, know some simple things that EVEN
i have to refine, myself and we talk to clients
every day about.

Speaker 5 (12:39):
It but we're gonna take a look at just self.

Speaker 2 (12:41):
Examining your financial plan through just looking at your accounts,
specifically and then maybe some holistic planning and, taxes and
then of course we'll bookend it with financial planning just
in regards to the estate. Plan so that's what we're
going to solve for is basically you know you're passing
it on because while we're, alive we can control things
to a. Point but also who comes after us and

(13:03):
taking care of our heirs also is, important including the
kingdom and starting With.

Speaker 1 (13:07):
Jason not, Sorry i'll just jump in here for just
one quick second BECAUSE i think this is so. Important you,
know the position that you AND i are both in
as young fathers who are providing for our wives and.
Kids this is this is an act of. Provision it's
not present provision, necessarily but future. PROVISION i think that's so.
Important so, anyway, sorry.

Speaker 5 (13:24):
Go ahead in great. Ad so simple things with.

Speaker 2 (13:28):
Accounts so we're going to take a look at just
the self examination of just all of your accounts where they're.
At so what are those types of accounts we're going
to look, at you, know your bank, account your credit
union checking and savings. Account you might have a money
market account, too don't forget those sometimes are separate and
even in some banking institutions or Credit union's A cd,
account a certificate of deposit account actually is a separate

(13:51):
account as. Well just really depends on the. Institution so
remember to look at all of those accounts that can
have a. Beneficiary so we're gonna talk a lot about about.
Beneficiaries so you want to make sure that each of
those accounts have the intended beneficiaries listed with proper legal. Names,
obviously if you have children then they change names due to,
marriage and where it's, applicable sometimes. Addresses so the reason

(14:14):
for the addresses is with life insurance. Beneficiaries if you
have life, insurance especially for our age, group as you
get older in, retirement you may not need that because
you have assets that pass onto your. Spouse so that's perfectly,
fine but if you have the life, insurance check in
on those beneficiaries, especially so anything that can happen, beneficiary
please take a look at.

Speaker 5 (14:33):
That it's very.

Speaker 1 (14:34):
Important and so that would be any kind of account pretty,
much including life Insurance, jason, Right so even.

Speaker 5 (14:40):
That would be a.

Speaker 2 (14:40):
Policy, Yeah so the life insurance is important because of the,
addresses because some life insurance companies actually mail a check
and some of them will deposit the death benefits into
the beneficiaries bank accounts if it's listed.

Speaker 5 (14:53):
THERE i focus a.

Speaker 2 (14:54):
Little bit more on that specific one because when you
have your executor or some one who's responsible after your
passing has to go around and do these. Things they
need a good, checklist but they also need some updated
information otherwise it has to go to where it's. Listed
so that's a good one to go dig up that
policy or wherever it's, sitting, yeah and take a look at.

Speaker 1 (15:15):
It so and then here's just a follow up for you, Also,
jason AS i was thinking about. This so you AND
i both in the situation where we necessitate life insurance
because again we are you, know if something were to
happen to either you, know either of us want to
make sure that our family is provided. For what what
would be the wisdom in making someone other than your

(15:35):
minor children a, beneficiary if that's a person that you
can trust to take care of the. Children so, say for,
example rather than making my three year old son the,
BENEFICIARY i make you, know the person Who i've entrusted
to take care of my son if my wife AND
i pass, Away but make them the be them that you,
know person that you. Know then the money goes to
them and then they use it to take care of the.

(15:56):
Children is there wisdom in that or is it better
to leave it to the child and have that person
be kind of a trustee over.

Speaker 2 (16:01):
It those are good questions for a attorney as. Well
in the case of if you have minor, children you
may have your will established a trust in that, case
and then it's up to you to figure out who
the trustee should be from that. Point so that's your
trusted persons kind of on the nose, there, Sure so
that's a good place for the. Minor so that's always

(16:23):
good even with your. Account if your will does establish a,
trust make sure that financial institution is aware of that
in that, case just as the. Contingent and that kind
of brings me to the line of beneficiaries That i'm speaking.
To who's, first who's, second and who could be. Third
so in the, LINGO i guess you'd say primary beneficiary

(16:44):
is going to be the first. One that's traditionally a,
spouse but you can have multiple primary. Beneficiaries it could
be kids once the first spouse has, passed or it
could just be split to some other heirs equally as a,
primary so the first in, line the second one from
there is. Contingents it's very common to just have a
primary and contingent or secondary with, beneficiaries and in some

(17:08):
cases with certain. THINGS i think left insurance policies or
other institutions will add a third one or tertiary to.

Speaker 5 (17:14):
It it's a very specific.

Speaker 2 (17:16):
Case it usually applies normally for the first and the
second from that. Point so that's kind of a good
wrap up of those different definitions of which beneficiary comes
first and in the line of that.

Speaker 1 (17:28):
Order. Awesome what about financial planning with, Taxes, jason how
do we do? That good.

Speaker 2 (17:32):
Question we are not financial we are not tax, professionals
as we always, say.

Speaker 1 (17:37):
So especially not. Me, okay let's just put that out.

Speaker 5 (17:40):
There.

Speaker 2 (17:40):
Sorry so a lot of partners and listeners that are
actually doing THE fi strategy or doing things on their,
own they have things in their. Control they might even
be doing their own taxes because that is a capability
of doing and that's perfectly. Fine in some, cases it
might be still important to at least get a consultation
with a tax advisor just to go over making sure

(18:04):
that your taxes are Proper and especially when it comes
to capital gain situations and taxable brokerage. Accounts we're always
talking about the strategies of you, know getting money out
from the government's. Control so if that involves a taxable brokerage.
Account we're gonna want to look at capital gain. Situations
and then of course if you're On, medicare there's of
course ON irma that we've talked about so, much and

(18:27):
making sure that you understand HOW irma brackets work With,
medicare and of course MURDER irma is you, know it's
another tax bracket that can raise the premium of Your
medicare in a year if you actually have too much
adjusted gross income or modified justin grossing. Income so those
are good questions to really ask for those that might

(18:48):
be starting on THAT fism plan and kind of measuring
up how their taxes affect their overall.

Speaker 5 (18:53):
Plan it's a good holistic. Approach we like to take
a look At.

Speaker 1 (18:56):
Jason CAN i just in for just a second and ask,
you as you are not at tax, professional But i'm
guessing you probably have wisdom and insight on how to
choose a good tax. Professional do you have any suggestions
on what would be good things to look out for
in a tax professional.

Speaker 2 (19:11):
Tax, planning you can ask some, questions especially with leaving
money to The, kingdom looking at qualified accounts and reducing
qualified money those are just qualified money would be in
like AN, ira a TRADITIONAL ira where the government can
change the. Rules, now qualified money could also mean like
AN hsa or a five to two nine. Plan it's
good talking about a tax planning, standpoint but also the

(19:34):
kingdom giving. Aspect are they familiar with of, course qualified charitable?
Distributions are they A, cpa a certified public? Accountant those
are really the ones that have that advanced knowledge and
maybe they have some. Experience you can find one locally
in your area if you'd like to go through the
brick and mortar doors and do it that. Way mine

(19:55):
personally has always been in a different state than, mine
But i've known mine for a long time And i've
been able to work with him for a long. Time
so really it could be. Anywhere it could be in
a different, state or it could be somewhere close where
you can actually have that relationship as. Well and maybe
you like to hand over your tax documents, Physically so
it's really.

Speaker 5 (20:13):
Good that's a good part. Too that's a good.

Speaker 2 (20:15):
Question it's that's about the consultation and talking with your
tax planner that way and kind of feeling them out
and how they like to. HANDLE a lot of time
CPAs want to or tax advisors want to save you
money in that tax planning. Year we're always planning for
the long. Term so the holistic approach of self examination
is don't think about just this, year think about the
future your beneficiaries as.

Speaker 5 (20:37):
Well so that's some good questions for YOUR.

Speaker 1 (20:39):
Cpa awesome, Man and you, Know, JASON i know you
guys have also mentioned you And shanna talk all the
time about the principle that there's a very good chance
we believe taxes will be higher in the future than
they are right. NOW i find that wisdom so. Important
could you speak to.

Speaker 2 (20:53):
That that's, Right so taxes being high in the. Future
maybe it's not now in the next four, years but
in the. Future we do see a common goal of
the government constantly wanting to change. Rules that's what they
do with the accounts that they can. Do, so so
we like to look at where is the best place
for your people beneficiaries to be are they on accounts

(21:16):
that from a tax planning, Standpoint so talking with YOUR cpa, About,
hey my beneficiaries are going to inherit a roth, ira
what's going to happen with? That is that a good
place for people? Heirs, HEY i have benefit people beneficiaries
on my brokerage, account my taxible brokerage. Account they're going
to inherit this amount of. Money what is the tax implication?

(21:36):
There so those are good questions to ask, them especially
with the step up.

Speaker 5 (21:39):
Basis then of course there's.

Speaker 2 (21:41):
Always that built in tax treatment with a TRADITIONAL, ira
and that's where we AT fism always talk about kingdom
beneficiaries and maybe involving The kingdom into your state.

Speaker 5 (21:52):
Plan so those are good questions there to take a look.

Speaker 2 (21:55):
At and so if there's a tax, consequence we want
to position our air to receive the best but also
have the kingdom heirs also be a part of that as.
Well and those are good self examining tools of what
you want to, do and that might lead us into estate.

Speaker 1 (22:10):
Planning Here jason quickly here tell us just for a,
moment so the legal documents that we, need just remind
our listeners what they. ARE i know of Will what
are some of the other.

Speaker 2 (22:19):
Ones, yeah power of attorney and medical, Directive so power
of attorney really works when you're.

Speaker 5 (22:24):
Alive so those are kind of the simple will.

Speaker 2 (22:27):
Plan if you go to any estate planning attorney and
you want to, say, HEY i want to get some
legal documents. Together it's always best to have that prepared
of what you want done for the attorney to put.
Together but it's usually just a will power of attorney
and medical. Directive so it's good to review those. DOCUMENTS
i know there's some times some people like to review
it every five. Years some people don't review their legal

(22:48):
documents or even update them until they need, to and
it might be a little too.

Speaker 5 (22:51):
Late so that's a good self.

Speaker 2 (22:52):
Examining dig those out and take a look at them
and see what they, say if they need to be
addressed or they need to be, updated especially maybe minor
children are now adult.

Speaker 5 (23:02):
Children and then of.

Speaker 2 (23:03):
Course the last thing is for our wives leaving a, letter,
yep that's, right being out everything where everything is is
good to leave to your surviving spouse or maybe a
trustee of where everything is, this what are the, accounts
what are you leaving to? Who and it's just it's
not legally binding and it's not going to place be
in the place of a beneficiary or legal. Documents it's

(23:25):
just going to give a whole outline of what the
person who's responsible after you can go look for these.

Speaker 1 (23:29):
Things JASON i appreciate that so, much, brother thank you
for sharing that with. Us i'm going to put some
of that into, practice. Folks jason. Mcdalill always appreciate Having
jason on the. Program looking forward to the next.

Speaker 6 (23:39):
Time.

Speaker 1 (23:39):
Brother, hey if you have to leave, us we hope
you have a great rest of the day, today but
we do hope you'll stick around for More financial issues
coming up on the other side of this, break talk to.
Them welcome, back, Folks Financial. Issues had a great time

(24:10):
With jason in that. SEGMENT a lot of great comments
there about social. Security we'll try to get to those
in just a little bit. Here but before we get to,
that let's take a look here, quickly. Folks the markets
just opened, up and the markets are AS i refresh my,
screen give me a, moment bear with, me all in
slightly negative. Territory Dow jones is just down about an
eighth of, PERCENT sb five hundred quarter, percent The nasdaq

(24:32):
about two fifths of a. Percent so once, again all
eyes will now be focused on the next big emotionally
charged event in the, markets which will be In nvidia's
earnings report On. Wednesday did want to remind, you, folks
actually speaking of specific. Companies we had a very successful
petition With, tesla very very. Happy so many of you
signed that, petition and so today we're going to be
sending that over To tesla's front. DESK i Guess, sam

(24:55):
we'll send it right To Elon musk and hope and
pray that it gets to the right, eyes that the
right people see, this and that the right people are
there to respond to, this that they care about. This
maybe we're sending this to people who you, know might
be thinking in the opposite direction as we, are but
seeing something like this might even change their. Hearts so
pray for, that. Folks we're we're, praying of course That

(25:16):
tesla changes its ways and we can put them back
on our. List if that doesn't, happen, though we're Praising
god for a successful campaign and Praising god for the
ability to use this megaphone to do what's, right whether
it brings about change or. Not we want to do what's,
right be, Obedient so that's what we're trying.

Speaker 3 (25:30):
To, do be sending out those petitions after the show,
Today so PRAY i don't get a paper cut on
my tongue When i'm licking those.

Speaker 1 (25:36):
Viightment they get, dangerous BUT i do it free injurious.
Stuff that's. Right, hey let's see what to look for
this week, here folks in the, Economy So shanna mention
this On, friday we have durable. Goods that's just showing
us the direction conditions with, business, investment housing conditions are.
Headed we'll get THE feds preferred measure of, inflation which
is THE pcee. Number we also get personal income and.
Spending that's how the consumer in a consumer driven economy

(25:59):
is holding, up specifically the lower end. Consumer be interesting
there to see. That this week we mentioned earning, season
so again earning season for quarter two is really winding.
Down there's not much else reporting this week other than in.
Video but it just so happens that in video is
the proverbial Market darling and.

Speaker 3 (26:15):
Hero it's kind of Like, christmas the, yeah the biggest.
Celebrations so earning seasons ends earning.

Speaker 1 (26:21):
Seasons, christmas, which by the, way folks don't look, now
But christmas is only four months away on the. Dot
just hopefully you're getting You christmas cookie jar ready like
we were talking about earlier in the, year Right sam
for Your christmas? Tea that's, right it certainly. Does he
got four months, left but The christmas of quarter two
is coming around the corner With Invidia, monday so today not, Much,
tomorrow not. Much wednesday we get in video that reports
after the. Bell thursday we do Get dell And Dollar

(26:43):
general and a few. Others friday we Get Ali. Baba
but this is really kind of the culmination of earnings
to general.

Speaker 3 (26:52):
Excitement about.

Speaker 1 (26:53):
That it's LIKE i gotta follow that good. Grief so
we'll see what. Happens. Folks you can be sure that the,
Markets i'm, sure barring some other kind of event that
will cause them to move one way or the, other
they will be watching very closely When nvidia reports its,
earnings as it has been driving that tech run up
that we've. Seen all, Right, sam let's jump to a
question here from a. Partner we've Got. Mark What's mark? Asking?

Speaker 3 (27:14):
Haang on just a? Second there we, go he. Says mark,
Says i've been a partner for a few, years but,
HONESTLY i don't pay too much. Attention so first of, All,
mark thank you for your. HONESTY i really do appreciate.
That but he, SAYS i had to sell most of
WHAT i had a couple of years ago to get a.
MORTGAGE i HAD rmp for several years, now AND i
BELIEVE i bought it WHILE i was on the buy. List,
HOWEVER i don't see any information on it now on the.

(27:36):
Website i've lost most of WHAT i. Invested SO i
was wondering if something happened AND i just didn't see,
it or if SOMEHOW i made a mistake and sold.

Speaker 1 (27:44):
It, Well, mark thanks for your. Question we did issue
a sell alert for this. Company this was part of
kind of a broad sell alert in the healthcare. Sector
this was back In april of twenty twenty. Four so,
Again april twenty twenty four sell alert for this. Company
it was for technical fundamental. Reasons so you can go
and check out that. Alert if you go to the alert's,
page just type in the holding that you had on
the alerts page and that should take you right to

(28:05):
that broad cell alert that you should that you saw.
There thanks for asking, That, mark do appreciate that a.
Lot all, right let's get to the chat run down, here.
Folks we have a lot of you in the chat.
There good to see so many of. You claude And
george And, Jason jason who you just heard on the.
Show they're always great to Have. Jason robert had a
great question. Here dan had professed that fixing Social security

(28:28):
was very easy to. Do he never elaborated on how
any idea What dan had in. Mind, robert that's a great.
QUESTION i do not. KNOW i Remember dan talking about, This,
sam do you can?

Speaker 3 (28:38):
YOU i have scanned the archives of the videos AND
i found clips of him mentioning, it BUT i never
found what his actual solution.

Speaker 1 (28:44):
Was absolutely, Absolutely, Eddie, EDDIE i really do appreciate your comments. There.
Brother you, know we might get to know some of these. Here.
Eddie you were ASKING i understand your perspective based on
your age and. FUTURE i shared some of my perspective
in the chat AND i appreciate.

Speaker 3 (28:58):
That.

Speaker 1 (28:58):
Eddie your, question how do you suggest we get? There
when there's a society that depends on The Social security
program And, sam we might as well go into it right.
Now here's the, Solution, eddie and it's pretty. Simple AND
i put this in the chat, there But i'll share
this with all of. You we need one generation that's
willing to bite the. Bullet we need one generation that's
willing to SAY i will pay into this thing knowing

(29:20):
That i'm not going to get anything out of. It,
see you all paid into it with the promise that
you would get something out of, it and many of,
YOU i Think eddie you're one of. Them many in
our audience as, well in your sixties seventies are now
Receiving Social security benefits with the thought OF i paid into,
this so Now i'm getting it. Back i'm not trying
to shame any of you with. THIS i understand you
paid into, It you're getting it. Back WHAT i am saying,

(29:41):
personally AND i Know sam feels the same, way is
THAT i am willing to be the generation that pays
into it and never gets it. Back the reason why
is BECAUSE i don't want my children to have to
pay into something this, foolish this, Socialist, frankly this. Stupid
when we're talking about a government, program a government solution
that was created BY i really one of the most

(30:01):
dictatorial presidents in our country's, history Named Franklin Delano roosevelt
back in nineteen thirty, five DON'T i don't want to
be a part of. THAT i don't want my children
to have to bear that tax. Burden because here's the, deal,
folks If Social security is sticking, around the taxes will go.
Up they have to go.

Speaker 3 (30:17):
Up.

Speaker 1 (30:17):
Sam we had that, ARTICLE i think it was last,
week talked ABOUT i think the numbers right. Now twelve
percent is The Social security. Tax it's supposed to go
up to sixteen percent if the program's going to stay.

Speaker 3 (30:27):
Solvent and IF i remember the, number it means that
lifetime earnings for those just entering the workforce will be
dropped by one hundred and ten, thousand exactly.

Speaker 1 (30:35):
Right exactly. Right so the question that you have to, ask,
folks and this is the tough, question who's going to
bear the burden of. This it's going to be my
five year old, daughter three year old, son and five
month old son and their. Generation i'm not going to
stand for. It i'm not going to stand for. IT
i am okay to be the generation that pays into
this foolish system for twenty five years and then never
gets anything. Back that's. Okay, well that's already the.

Speaker 3 (30:56):
Expectation and let's get surveys right, now it's about seventy
Percent millennials and GEN z think you're not going to
see a scent Of Social.

Speaker 1 (31:03):
Security, ABSOLUTELY i don't expect to receive any of this, thing.
Folks so What i'm saying, is let it be, Me.
Eddie the answer to your question is it ends with
the millennial. Generation. Now, unfortunately a lot of millennials are
bent towards. Selfishness they're bent Towards i'm paying into this
and it's not even a bad. Thing you paid into,
it you got it, back that's. Great we need more, millennials,
though who are willing to be completely selfless and willing

(31:26):
to do. THIS i really do believe. That and, look
it's not an easy thing to, Do, okay it's it's
not something that is going to come easy for a
lot of. People AND i really do believe, Myself, Sam
others like us are a tiny little. Remnant the reality
of it is it's not going to go away Because,
sam as you, said it's a government. Program it's a government.

(31:47):
Program these things don't go away, easily you. Know, So,
eddie to answer your, QUESTION i think that's the. SOLUTION
i really. DO i think the solution is you need
one generation that's willing to Say i'll pay into it
to stop this. Thing i'll pay into it long enough
to cover the people above me and then there's going
to be a kill. DATE i said that in the. Chat,
ALSO i think you need to have a kill date
for this, thing whether it's fifteen, years ten, years twenty

(32:09):
years from, NOW i THINK i think that's the. Solution,
listen it's not going to be, easy as As. Sam you,
know as you said the phrase bite the, bullet that's
a reference to a historical term of someone who's getting
their arm chopped, off and the bullet essentially is essentially
their version of a you, know some some kind of
drug to numb the. Pain i'm moving on a rag
bullet so much. Pain i'm not trying to be a Market,

(32:32):
folks good. GRIEF i don't want my children to pay into.
This that's the. TRUTH i don't want my children to
pay into. IT i don't expect. It so it ends with.
Me that's my. SOLUTION i appreciated a lot ANY i
apologize for that. Rant didn't mean to go on it.
There but here we. Are we got the agroport coming.

Speaker 3 (32:47):
From saying people are currently dependent on Social. Security that
would be a terrible. Idea check that's not why you're
going to do. That it has to end with a.

Speaker 1 (32:55):
Generation i'm willing to be that generation folks got the
ad coming up and talk more about this on the
other side of the more financial issues coming up after.

Speaker 6 (33:01):
That this Is Craig howguard with their financial. ISSUES ag
update For august twenty, Fifth, Friday Pro farmer tallied up
the results of their week's crop. Tour the two words
shown that most state syields were above last, year and
that was reflected in the final. Numbers This Pro farmer
peg the twenty twenty five national average yield one hundred
and eighty two point seven bushels per. Acre, now this
is down from one hundred and eighty eight point eight

(33:21):
bushell's paracre projection from USDA's august crop production. Report it
was worth noting that recently The Pro farmer numbers have
come in three to four bushels.

Speaker 1 (33:30):
Blow the USDA's final.

Speaker 6 (33:31):
Number we Had december corn finished the day at quarter
of a cent lower at four to eleven and a
half subeast rallied as THE epa provided clarity on the
small refinery. Exemptions we had Her november beans a little bit.
Higher as a result of, that they're up two and
a half cents as they finished the day had ten
fifty eight and.

Speaker 5 (33:47):
A half the.

Speaker 6 (33:48):
Week trade was gradually weaker throughout the session as traders
were unable to confirm the rumors That china had been
BUYING us. Suite on the international, front rains are helping
crop development In, argentina which added to put some more
barish pressure on the. Board On, friday we Had Minneapolis
december week unchanged at five ninety. Well Kansas city was
a nickel lower at five twenty. One chicago dropp by

(34:11):
two and a half, cents settling out the day at
five twenty seven and a. Quarter connon futures were pulled
higher by supportive outside. Markets when the session finally, Ended
december futures were fifty nine points, better closing at sixty
eight oh. One livestock futures had a real strong finish
to the. Week we Had october live cattle futures three
dollars and fifteen cents higher as they closed the day

(34:31):
at two hundred and thirty seven dollars eighty seven and
a half cents per one. Hundredway september feeder cattle were
four dollars and sixty five cents higher at three hundred
and sixty two dollars sixty seven and a half cents per.
Hundred this was generally driven by The August cattle On Feed,
report which was released On, friday and it showed a
two percent decrease in total cattle on feed inventory from
the previous. Year this decline is part of a trend

(34:52):
of a year over year declines continuing to reflect a
tight cattle supply situation across the major cattle feeding regions
in The United. States we also Had october Lenog future
is a dollar twenty seven and a half hire as
they end of the day at ninety one dollars and
twenty cents per one hundred way class from Mil futures
Closed lore for the third consecutive. Session we Had september
futures twelve points lower at eighteen twenty. Seven listen has

(35:14):
Been craig Holl guide with your financial Issues Egg. Update
we'll be right back with more financial issues after.

Speaker 3 (35:20):
This the opinions and recommendations expressed on this program do
not necessarily represent the opinions of the station or any
of the program's. Sponsors, additionally all products or services offered

(35:41):
by the program sponsors may not be known by the.

Speaker 1 (35:43):
Program appreciate each of, you, FOLKS i just put a
question in the. Chat i'll pose it here to you.
Now if you're not on the. Chat for those of
you who are pro social, security maybe you're on it right,
now or maybe you're not on but you're still for the,
idea you're waiting for. It you're approaching that. Age let

(36:04):
me ask you an honest. Question is it a good
system right? Now and if it's not a good, system
what's your? Solution i'd love to hear. It is it
a good system the way it is right? Now where
we went through the, numbers, folks the numbers are clearly
not enough to support. Someone it's basically a side hustle
where the younger generations get taxed and need to increasingly

(36:24):
get taxed more and more to keep this thing. Alive
is that a good?

Speaker 3 (36:27):
System if you're working well getting social, security you actually
get punished for.

Speaker 1 (36:32):
It, yeah that's exactly. Right you, Right if you make
too much money then you're getting. Punished is that really
a good? System if you think it's a good, system
obviously you're going to you, know we agree to disagree.
There if you have a solution for, it tell us
in the chatter or you can call in six ten
three sixty three eleven. Ten let's do, This, Sam let's
get to here's one potential solution that we. Had albert
sent this message. IN i think this is really good

(36:52):
and this was actually what sparked this conversation, today. Folks
this is the reason why we wanted to go back
to social security today Because albert had a great comment for. Us, So,
sam why don't you give Us alberts?

Speaker 3 (36:59):
There, Yeah albert's got a lot of numbers in, Here
so we'll have to see if my disc calcula gets
the best of me. Here but we'll have to. See he, Says,
Seth i'm aware that you've taken heat on this subject.
BEFORE i have little respect for the plan OF so Social,
security But i'm also aware that without, it do the
lack of saving and, investing that some people would have
nothing in. Retirement but it's also hard for me to
see it as a. Handout that's something That. Seth you've

(37:22):
called it, before and now you've taken quite a bit
of heat for calling it a. Handout so there's an
agree to disagree there between you And albert in this.
Comment but he goes on to say, this if a
person that makes forty thousand dollars for forty. Years with
your part and the employer's, part that would be the.
Match that's a little over four hundred dollars per. Month
at eight, percent that would equal one point four million,

(37:44):
dollars which at four percent yields forty eight hundred dollars per,
month which will probably beat the twelve hundred to twenty
eight hundred you might get From Social. Security, so, yes
the plan. Stinks.

Speaker 1 (37:55):
Albert thanks for your, Comment, MAN i appreciate. That and,
yeah all those Numbers albert's mentioned, there folks base if
you have that money set aside where you can invest
it in the. Market he mentioned that eight. Percent that's
an eight percent, return which is actually that's a little
bit of a conservative number If i'm understanding Right, sam
at least based on the past ten. Years there's no,
guarantee but if you're going by what the last several
years have, gone you'll get a good chunk of money

(38:18):
that you can live off. Of that. Number the forty
eight hundred you mentioned was for twenty five, years so
you can live off of. That that's probably more than
double what you get From Social. Security, albert your point stands.
Well the plan certainly does. Stink let me explain the
handout thing one more. TIME i think that is. Important
it's not a. CHARITY i don't think it's a charity at.
ALL i think there are government, charities there's, welfare there's
things like. THAT i think those things have to go as.

(38:38):
WELL i think there's better ways to do. That what
it is is you are paying into it and then
you're getting it handed out back to you at a
fraction of what you paid into. It because there's so,
many you, know millions of people who are getting this as.
Well that's ALL i mean by that is that it
is a government handout in that, sense not a government,
charity but it is a government handout that is socialist by. Nature.

Speaker 3 (38:58):
Folks for people here when there's a handout is they're
thinking that you're saying that they're, bad they're a moocher
for taking.

Speaker 2 (39:05):
It.

Speaker 1 (39:05):
Exactly please don't hear me say, that. FOLKS i don't
believe that you're mooching off of anyone for. IT i
fully understand as well that you paid into. It now
we have to be clear. Here the money that you
paid into was not money that was stored up for.
You you paid into it so that the generation's twenty
and thirty years older than you could live off of.
It you paid for them multi level marketing. Scheme what
who is now paying for you to be in Social

(39:26):
security is me And, Sam and if we get, there
if the system's still, alive my kids will be paying
for me to Have Social. Security i'm not okay with.
That that's the. POINT i don't want my kids to
have to be burdened with. THAT i think it's an unfair.
Burden as the word fairness, GOES i also think it's
an unjust. BURDEN i don't think it's a good burden,
either because it reeks of socialism all that other stuff you, understand.

(39:48):
Folks so the question of is it a good, System
i'll go back to WHAT i said. EARLIER i really
do think that it's going to take a generation that
is going to say enough is. Enough but it has
to be enough. People that means we also have to
get people in position who are willing to say. What no,
politician to my, Understanding sam has been able to say

(40:10):
in the LAST i don't even know how, long probably
since the program's been, there which is saying anything remotely
close to we're going to end this. Thing if a
politician says that people will freak, out they'll freak, out and,
LISTEN i get. It the CLOSEST i can think of
Yet George, bush who was talking about, privatizing talking About
you've also Had Paul, ryan who has a lot of,

(40:30):
issues but this was a decent goal of his was
to change or Reform Social, security and he Was Pillar
reid for. It, yeah that's exactly. Right SO i do, think,
folks you, know privatizing could be the. SOLUTION i do, think,
though more than, that you just need a generation that's
willing to do the, work that's willing to get people,
in and that's willing to pay into it knowing that
they'll never see any of. IT i think that's really

(40:51):
kind of how it. Goes, again IF i never see
a cent of, It i'm okay with. That i'm totally
okay with. THAT i don't expect to see a single
scent of it, Anyway AND i even you, know, look
here's the, deal, Folks even IF i do get some of,
it the trajectory that it's, going it's probably going to
be a little more than chump change by that point.
Anyway SO i certainly can't live off of. It you,
Know i'm going to need something. Supplemental that's Why sam

(41:13):
AND i are investing right. Now it's why we're doing
the financial issue. Strategy we're doing this right now so
that when we get to that, point we can live
off of the money that we worked. For you, KNOW
i really do think that is the way to. GO
i understand not everyone's in that. Situation you might be
in a situation where you need, it AND i totally get.
THAT i totally get. THAT i want, to you, know

(41:33):
exhibit grace towards you for. That, nonetheless it doesn't remove
even your, situation which might be, legitimate does not remove
the fact that this system is broken and it needs
to be, fixed and it will hurt our. CHILDREN i
promise you it will only hurt our children and. GRANDCHILDREN
i am against hurting my children, financially, physically, spiritually whatever it.
Is i'd rather free my children from. That let me

(41:54):
say one more thing about social security as. Well so many,
people And i've read this in the. Chats i've heard
so many of you Say i'm owed. THIS i paid into,
it And i'm owed, It AND i think we have
to be very careful about.

Speaker 5 (42:06):
That.

Speaker 1 (42:06):
Folks it's so easy to get selfish to SAY i deserve,
THIS i really. Do And i'm not look even me
saying THAT i don't want, to you, know cause you
to send nasty. Emails if you got an email to,
send send it to. Me please don't send it To.
Pat send it right to me If i'm the one
that you're frustrated. With but we can so easily start
to think about ourselves instead of thinking about the people around.

(42:27):
Us that's All i'm trying to. Say, additionally let me
say this, also many were. Promised you were promised that
it would be there for. You the Question i'd ask
you is who promised. That maybe you heard it from,
parents maybe you heard it from, Grandparents but it goes
all the way back to the government made the. Promise
AM i right on, That. Sam the government promised that
they would take care of us when we were in
our old. Age they were the ones who started.

Speaker 5 (42:49):
It.

Speaker 3 (42:49):
Yeah but the problem with, that, though is that it's
not like the government, Said, HEY i have a promise for.
You do you want to take me up on the?
Promise were all kind of drafted into this Syst we.

Speaker 1 (42:57):
Just drafted into. It, yeah we were all just it
was just kind of like part of the water that we. Drank.
Absolutely BUT i would tell.

Speaker 3 (43:03):
You so that's why people say they're owed to it
because they do pay into.

Speaker 1 (43:06):
It they do pay into, it, Right and that's the
problem where that's really The that's the point we're trying
to make, here, folks is this is a structural foundational
problem that begins with our ruling. Government they're the ones
that have to make the. Changes, ultimately now we hold them.
Accountable were their? Bosses that, why that's why we need
to get the right people into office to be able
to make these right. Changes BUT i will say this

(43:27):
to you, also, folks be very on guard about listening
to the. Government believing that the government tells you the
truth and has your best interest in. Mind they probably.
Don't please be very very careful about. THAT i say
this as a loving. Rebuke if you took any history
classes and you came out of your history classes thinking

(43:47):
the government has my best interest in, mind you weren't.
Listening if you came out of history class thinking the
government always tells me the, truth you weren't. Listening please
be very. CAREFUL i had the privileged FOLKS i get.
THIS i had the privilege of listening to and talking
to Dan celia every single day for four hours a
day for an entire, year SO i get. THAT i

(44:10):
got it beaten into my brains this. Thing don't, listen don't,
trust don't don't trust the. Government you should assume that
the government will lie to you and they will not
have your best interest in. Mind here's the Point i'm
trying to make with all, this. Folks if you have common,
sense SO i know our audience, does you would agree
with me at least the system we have needs to
severely be. Changed And i'm glad that's why you know

(44:31):
there has to be a better. Way albert's pointing that out,
HERE i think he's exactly, right and so many of
you have agreed with that as, well that there has
to be a better. Way so thank you for hearing
my little soapbox rant. THERE i didn't mean to go
on a soapbox with, this, folks BUT i did want
to share all of that with you to tell, you,
LOOK i don't care about myself with, THIS i genuinely.

(44:51):
DON'T i don't care about keeping social security for. ME
i want a better world for my. Children and for my.
GRANDCHILDREN i want a better country for. THEM i want
a more god. COUNTRY i want a country Where christianity
is the law of the land for. THEM i want
one where The gospel flourishes and. Grows AND i know
that you want that as. Well AND i want one
where they're not burdened financially from a socialist governmental. System

(45:15):
that's really WHAT i want for. Them at the end
of the, DAY i could be wise for, us, folks
to close our show here on the stewardship versus the.
Day titus one seven says for an, overseer As god's
steward must be above. Reproach he must be not arrogant
or quick, tempered or a, drunkard or violent or greedy for.
Gain this is a great, verse. Folks it's explicitly referring
to a very specific type of. Person this is the.

(45:36):
Overseers this is an elder of the church according to
this according to the qualifications in One timothy, two this
can only be a godly qualified. Man so if you're
not a godly qualified, man you cannot be an overseer
of the. Church, however these principles still apply to Every
christian that we all must strive to be not arrogant
and to be to avoid a quick tempered, spirit to avoid,

(45:58):
drunkenness to avoid, violence to avoid, greed and instead to
exhibit the fruit of the. Spirit to Love christ with
all our, heart, soul, mind and, strength to be faithful
stewards above reproach for the glory Of. God, well it
was a good, show, folks and it was a busy
one for. SURE i. Apologize i'm sure we saw a
lot of chat comments come in there THAT i, missed
So i'll make sure to get to those if we

(46:18):
have time to get those on tomorrow's, show we'll try
to get to them as. Well but, yeah, FOLKS i
hope you can remember all the lessons that we learned.
Today it was a good. Show excited to be with.
You some things we'll be keeping an eye on this,
week of, course The nvidia earnings, call as well as
those numbers in the, markets THE pc number comes, out
all that. Stuff we can be. Sure we'll be here
trying to make some sense with you for all of.

(46:39):
It if you have, questions be sure to reach out.
Again you can send me an email. Directly if you
didn't like ANYTHING i said about Social, Security i'd be
glad to talk to you more about. It seth at
financial issues dot. Org god bless each of. You remember
it's all. His let's be found good and faithful stewards with.
It god has given to us.

Speaker 7 (46:54):
Younxtly if we ever forget that we're one nation Under,
god then we will be a nation gone.

Speaker 1 (47:16):
Under thank you for joining. Us this has been An fism.
Production