September 6, 2025 • 39 mins
In this episode, Chris Markowski, the Watchdog on Wall Street, discusses the ongoing retirement crisis, the flaws in traditional retirement planning, and the importance of staying engaged in life after retirement. He challenges conventional wisdom surrounding retirement, emphasizing the need for a shift in mindset towards wealth building rather than mere financial planning. Markowski also highlights the historical context of retirement and critiques the relationship between big financial firms and their clients, warning against the prevalence of financial scams and the impact of greed and fear in investment decisions.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:07):
Well, no one altered. Investment banker, consumer advocate, analyst, trader.
Chris Markowski is the watchdog on Wall Street? Do you
want to answer exposing the lines and myths that the
big brokerage firms, the mainstream press, and the government are
pushing to keep Americans away from financial freedom.
Speaker 2 (00:28):
You can't handled the true.
Speaker 1 (00:29):
Proof bringing America the truth about what really happens in
the financial world. Ladies and gentlemen.
Speaker 3 (00:35):
We're not here to indulge in fantasy, but in political
and economic reality.
Speaker 1 (00:40):
This is the watchdog on Wall streets.
Speaker 3 (00:44):
Holy snipe, We've got another crisis.
Speaker 2 (00:47):
On our hands. Here, another one.
Speaker 3 (00:51):
It's just the same crisis that we get five times
a year, maybe more, every year for the past thirty years,
since I've been doing this program, since I've been in
the business.
Speaker 2 (01:01):
It's another retirement crisis.
Speaker 3 (01:04):
Yep, with uh without vail light, clockwork, media newspapers, constant stories.
Speaker 2 (01:11):
Here's another one.
Speaker 3 (01:12):
Nearly one in four Americans over fifty our delaying retirement
due to economic concerns. Wow, Where have I heard that before?
Where have we talked about that before? What have I
written about this before?
Speaker 2 (01:27):
Here?
Speaker 3 (01:27):
Here goes Older Americans are kicking the can down the
road on retirement or concerns about the economy and their
own financial readiness to step back from work.
Speaker 2 (01:38):
New survey that's out, Yes.
Speaker 3 (01:41):
Yeah, twenty three percent of those polls have already decided
to delay their retirement as they grapple with questions about
their financial readiness, up from fourteen percent and twenty twenty four.
And I can go on and on and on, YadA, YadA, YadA.
Another survey.
Speaker 4 (01:56):
What have we told you here on the program when
it comes to retirement in the entire construct in of itself,
it's pretty much ridiculous as far as I'm concerned.
Speaker 3 (02:09):
Again, I know it's conventional wisdom. And what do we
tell you about conventional wisdom here on the program? Conventional
wisdom is poison. Actually, looked it up. I said, we've
talked about retirement here in the program in the modern sense,
the modern sense. It was actually started in Germany. She
(02:31):
started in Germany eighteen eighty nine, Otto von Bismarck. He
started the world first social security program. And you know
the funny thing is, this is eighteen eighty nine. This
guy was a genius. He's like, I'm gonna give away
free stuff if you're seventy and older. You know what
the mortality was back in eighteen eighty nine Germany the
retirement age was seventy, then seventy then So how many
(02:55):
people do you think actually got it? And then you know,
moved on to the UK started THEIRS in nineteen oh eight,
and then of course we started ours in nineteen thirty five.
Guess what, kids, you're living longer and you're living healthier lives.
There's somebody alive today that's gonna live to one hundred
(03:17):
and twenty. That's just the reality of the situation. So
you think you're gonna be able to enjoy three four
decades of retirement, what exactly are you going to do
over that period of time. I mean, I like the
fish too, but you gotta go fishing every day. You're
(03:37):
gonna go golfing every day. Do you think it's healthy?
I'm here to give everybody a bit of a wake
up call. Okay, the entire business, the entire industry in
of itself, the whole retirement industry, the Wall Street constructs,
all of these things that they put up. Do you
think it's good for you? I'm just I'm being honest.
Speaker 1 (03:58):
Again.
Speaker 3 (03:59):
I've been doing this for very long period of time,
and we were the ones. We were the ones that
we were kind of ridiculed. You know when we put
this out years ago, when I talked about, Okay, listen,
I get it, I get it. You get tired of
a certain career. You've been doing it for twenty years,
thirty years, whatever it may be. You want to step back.
You want to step back, do a little sabbatical, take
(04:20):
a year off, but then go back and participate in society.
Speaker 2 (04:24):
That is a major problem that we have with this country.
Speaker 3 (04:27):
We say, oh, oh kay, ways, you know we have
sixty two, you have sixty five.
Speaker 2 (04:31):
That's it. We're putting you out the pasture. Go live
in the villages. Go live in the villages, free base.
Speaker 3 (04:37):
Viagra, go around and you know, drive your golf cart around.
Speaker 2 (04:41):
You think that's good, You think that's healthy. No, it's not.
Speaker 3 (04:47):
You know that the healthiest clients that we have are
the ones that stay engaged.
Speaker 2 (04:52):
And we talked about this.
Speaker 3 (04:53):
We talked about living your life like every week is
Thanksgiving week, right, Beth. Thanksgiving week is awesome, right, three days,
three days of work. Yeah, you chow down on Thanksgiving,
but ever nobody does anything on Friday, and think about
how much more you're going to be able to do.
Think about what we could do as a society. I've
talked about this in terms of education. Okay, you got
(05:17):
a job, you're working at Pfeiser, and you're a chemist
at Pfiser, and you know you put in your twenty
five thirty years and that's it.
Speaker 2 (05:25):
You've had enough, take a year off. Why not?
Speaker 3 (05:29):
Why not as a society we say to ourself, well,
this guy's a chemist, he worked at Pfiser for thirty years.
Why don't we put him in a high school classroom
and have him teach chemistry.
Speaker 2 (05:39):
He just wants to do one class a week.
Speaker 3 (05:41):
How maw many people took chemistry class back in high
school and had some twenty year old that basically had
no idea what in God's creation they were doing. They
weren't a chemist in the first place. They got an
education degree. What would you rather have your kid learning
chemistry from an actual chemist that's actually been there, done that,
or somebody with an edction degree that's being told that
they got to teach chemistry. You don't put people out
(06:07):
to pasture. They have to take a look. I mean,
take a couple of steps back.
Speaker 2 (06:14):
This question. Does Mick A. Jagger need any more money?
I don't think so.
Speaker 1 (06:20):
Man.
Speaker 2 (06:21):
Was he seven years old and he's on tour.
Speaker 3 (06:23):
Warren Buffett, Warren Buffett stepped back from his CEO duties
for crying out low, but he's still working there. Charlie
Munger worked till he was one hundred at that company.
There's no need for this. And I see it more
and more and more because again, the article's not wrong. Okay,
(06:44):
the article's not wrong. People haven't been preparing properly. Their
portfolios have been an absolute disaster because financial advisors all
around the country. So we gotta do a sixty to
forty portfolio and this is the way it's supposed to be,
and we got to put it into our algorithm.
Speaker 2 (07:02):
Really, really, how's that worked out? Do you really really
want to.
Speaker 3 (07:08):
Retire and then say, you know, I gotta get the
blue light special, I gotta start going out to dinner
at four o'clock because I gotta save money.
Speaker 2 (07:14):
Do you really want to deal with money concerns? Why
would you do that? And I know I know people out.
Speaker 3 (07:21):
There, what you always the roofers and people have to
do these labor intensive works I get that too.
Speaker 2 (07:27):
I get you can't do that forever.
Speaker 3 (07:29):
I understand the physical limitations of the human body, especially
in certain fields.
Speaker 2 (07:34):
But don't tell me you don't have anything to contribute.
We shouldn't. We shouldn't have people like that working in.
Speaker 3 (07:41):
Trade schools teaching kids how to do these these various
different fields. No, no, I would say the entire retirement
experiment here in this country has been an absolute disaster,
an absolute disaster. I don't think it's been healthy for
societ at all. I think it's a bit of a
(08:01):
death sentence for crying out loud. I get it that
there's the exception out there, and trust me, Okay, okay,
if you don't want to work anymore, make sure at
least you're donating your time, you're volunteering at your church,
You're keeping your mind active, you're keeping your body healthy,
(08:21):
because like everything else, it is just gonna actually, your
mind is gonna is gonna go in the opposite direction
unless you are using it. It's the same thing, same
thing with your body. The same exact thing is going
to happen. Story after story, year after year after year.
We see these things and we talk about them here
(08:42):
on the program. What do we tell you? That's basically
our philosophy at Markowski Investments. I don't even like the
phrase all new listeners out there, Okay, I don't like
the phrase financial planning.
Speaker 2 (08:56):
I really don't.
Speaker 3 (08:58):
I really know it's not it's not about planning. Okay,
I'll say this again. You've heard this before. You want
to make God laugh, Tell him your plans. You want
to make God laugh, Tell them your plans. What we
do here is we build wealth. Why do we build wealth? Well,
we understand. We understand time is your most important asset
(09:22):
that you have. And I'm a big believer in that.
I'm not a big Believer's just me. Everybody's different. I'm
not a believer in stuff. Okay, I'm a big believer
in experiences, doing things with my family, doing things with
my friends, being able to get away, and that that's important.
That's important, That that's what you want to gear yourself towards.
Not to mention the fact you also want to be
(09:42):
able to take advantage of what life throws at you.
That's what financial preparation is all about, being able to
take advantage. This is why we focus so much on
the fundamental and building wealth so you can take advantage
(10:03):
of all these things.
Speaker 2 (10:04):
And you know what the funny.
Speaker 3 (10:05):
Thing is is it's applicable to every bloody thing in life.
Speaker 2 (10:09):
Everything in life. I've discussed this here on the program.
Speaker 3 (10:12):
You want to look at the greats in anything, go
back and watch, you know, videos of Larry Bird working
on layups and free throws. The same philosophy that I
have when I coach kids in sports. Fundamentals, fundamentals, fundamentals,
why okay, so you can take advantage when you're on
the field of play, whether it be in business, whether
(10:34):
it be in sports or anything else in life, and
you are going to be able to succeed.
Speaker 2 (10:41):
Setting up your life. Yeah. I laugh at this all
the time. Yeah.
Speaker 3 (10:45):
Kids, kids sit down at their their first job on
I recent college grads out there, and you know, they
get some job and then the well, the yocal local
broker from Merrill Lynch with the four or one K
plan comes in there and he's got those little questionnaire.
Speaker 2 (10:58):
Okay, well when do you plan on retiring? Here?
Speaker 3 (11:01):
You're gonna put some sort of date down. What you're
asking a twenty two year old when they're gonna check out,
why would you do that? And why would you ever
want to set your life up in such a way
where you're saying to yourself.
Speaker 2 (11:14):
Hey, you know what this date, this date, I'm gonna retire.
Speaker 1 (11:19):
What.
Speaker 3 (11:21):
No, No, you live every day to the fullest, and
you take advantage of every single opportunity that is presented
to you. You do that, you know what, You're gonna
live a very very full life. This whole idea, and
it's a great business model. I mean you think about you,
(11:41):
all the big firms out there, all the mutual fun
companies over the years, all the accounts that they that
they put out there, and hey, listen, I do it too.
Speaker 2 (11:51):
I max out all my qualified plans. Why not? Why not?
You know what's gonna happen with those qualified plans. I'm
gonna give you my kids.
Speaker 3 (11:58):
Someday I'm not gonna need them, tell them I gonna
need them. Four take advantage of for tax purposes. I
enjoy what I do, and I agree, I get it.
Not everybody's gonna absolutely love what they do and love
their job. And this is why, you know what, You
get to that point when I'm tired of fine, then
go find something else that you want to do. But
the idea that you have to check out at some
(12:20):
point in time. Why it makes no sense, never has
to me. Again, everybody's different, everyone's unique. But man, oh man, Okay,
if you're planning on it. If you're planning on it, man,
you better have saved a ton of money. You better
(12:41):
saved a ton of money. Because we all see how
expensive everything is. Prices aren't coming down. There is one
of the biggest waves of accounts that we get in here.
People who are retired that are flipping out because they
don't have enough listen, and to younger people out there,
(13:02):
I think again, I'm giving you my opinion. You could
tell me to take a long walk off a short pier,
aren't it. I'm retiring, I'm fine, okay, but make sure
you're ready. That's what we're here for. I'm gonna take
quick break right here again. Remind everybody, okay, we're here
to help everyone out. I make this perfectly clear every
(13:24):
single week no Velvet Rope at Markowski Investments. I don't
have as some obnoxious bouncer at the front door asking
if you have ten million dollars to work with us.
Speaker 2 (13:33):
We help everyone.
Speaker 3 (13:34):
Get to our website, Watchdog on Wallstreet Dot com. That's
Watchdog on Wallstreet dot com.
Speaker 2 (13:40):
Sign up for our.
Speaker 3 (13:41):
Personal c f all program. That's what we're here for.
We're here to help you. Also sign up for our
podcast newsletter All Sorts of great Stuff Watchdog on Wallstreet
dot com. We also have a twenty four hour day
help hotline eight hundred four seven one fifty nine eighty
four watch Dog on wallstreet dot Com.
Speaker 2 (14:00):
We'll be back.
Speaker 1 (14:17):
You should believe in math not magic. You're listening to
the Watchdog in Wall Street with Chris Markowski.
Speaker 3 (14:29):
Ye, back everybody. It is the one, the only, the
Watchdog on Wall Street. Yes, I am Chris Markowski. We
have the longest running financial program in the country. Twenty
five year's big anniversary year for us here on the program.
Speaker 2 (14:46):
They gave us participation trophy.
Speaker 3 (14:49):
No, they didn't do that, but anyway, anyway, I actually
did a deep dive. I did did a deep dive
and looked throughout history in regards to retirement plans in history,
and the closest thing we could come to a retirement
plan is actually the Roman legions, and it wasn't even
a retirement plan. They get they would get a land grant,
(15:11):
they would get a land after twenty years of military serve.
I think it is a great idea we should do
that here in this country. Twenty years in the military.
You know, they should get, you know, a piece of land.
It's fantastic. It's a Roman empire used to do, and
actually medieval Europe, Medieval Europe, and again you got to
think about the hard labor that they had to do back.
Speaker 2 (15:34):
At that point in time when they couldn't do anymore.
You know what they did. They went and they worked
for the church.
Speaker 3 (15:39):
They weren't work at monasteries and things like that, but
remained active.
Speaker 2 (15:44):
It's important. Anyway, I got a kick out of this again,
newer listeners.
Speaker 3 (15:53):
I explained to my longtime listeners and people that have
been following Markowski investments prior to this radio show for
over thirty years. They understand that we lead, everybody else follows.
Everybody else follows. And again, you know, philosophy, same thing
folks over Berkshire, Hathaway, Drunken Miller's in the world. You know,
(16:13):
we don't have any magic algorithm or anything like that.
We don't go into any fads, but the same thing
we've been teaching everybody.
Speaker 2 (16:23):
Now all of a sudden is.
Speaker 5 (16:25):
In vogue, in vogue, you've got you got you know,
the Rick Edelman's of the world, and now you know
some of the some of the McDonald's brokerage firms out there,
the the you know, the Fishers, the Amor Prizes, the
Raymond James Edward Jones is out there.
Speaker 2 (16:43):
They're starting to get on board what we've been telling.
Speaker 3 (16:46):
People to do for decades, which is, uh, you can't
have a sixty forty portfolio.
Speaker 2 (16:53):
It makes no sense.
Speaker 3 (16:55):
You want to and this is if you want to retire,
This is you want to retire.
Speaker 2 (16:59):
You know, you want to check out at sixty two
or sixty five.
Speaker 3 (17:02):
If you've done that, If you've done that, then you
know what you're in trouble. You just don't have enough saved.
And past several weeks we've talked about this a lot.
We talked about stagflation, and again we predicted all of
this years ago, seeing the type of money that the
(17:23):
government spends, seeing people's buying power, spending power, basically going
to toilet. I mean, it's really gotten bad over the
past five years. But if you really want to go
back back to when you know the last time, you know,
the government kind of ran a sir plus to go
back to two thousand, you know, and we've lost what
(17:44):
since that point in time, almost almost fifty percent of
our buying power. I mean, get your arms around that person.
He lost almost fifty percent of your buying power over
the past twenty five years. Yet these same investment firms
out there, are you gonna do it this way and
this is what the computer model tells us to do.
Speaker 2 (18:05):
And how's that worked out for you? How's it worked
out for you?
Speaker 3 (18:11):
One after another after another, person after person, individual behind
the eight ball? And you know what happens when when
people get behind the eight ball and they realize, well,
then they get desperate.
Speaker 2 (18:25):
They make poor choices.
Speaker 3 (18:26):
Rather than say to themselves, you know, you know, maybe
I'm gonna retire, but maybe I'm gonna have to work
a little bit, what they do is is they take
on ridiculous risks in their portfolio. This is and again
the con artists are well aware of this. You know,
you see all these retirement crisis stories out there. Do
(18:48):
you understand all of the liars, crooks and sheets out
there are licking their chops saying, oh boy, yeah, yeah,
these people are gonna be desperate, and we can all
for them something we can. We can say, oh, look
at this annuity, and look at this bonus we're gonna
give you in this annuity, and look it's gonna be guaranteed,
(19:09):
and and people don't read the fine print and their
funds are locked up. I get a kick out of
that commercial the other day, somebody, Oh, it's got a
seventy five percent bump as soon as you sign.
Speaker 2 (19:23):
On right, sure you are? Sure you are?
Speaker 3 (19:28):
Because they know you can't take that money out, can't
take that money? Why not make it a why not
make it a two hundred two hundred percent bump? For
crying out loud, you're only letting them take out X
amount of dollars and you know at a certain point
in time they're not gonna be here. Listen to people
that there's a right way of doing things and the
(19:48):
wrong way of doing things. There's no shortcuts in life.
But what is our motto here? What have we been
saying for twenty five years on air? Everything in life
that has meaning, value and worth involves work, time and effort.
Speaker 2 (20:09):
Become a part of.
Speaker 3 (20:10):
Our family at Markowski Investments. Let us take a look
at your portfolio make sure you're doing the right things.
Speaker 2 (20:17):
Get there.
Speaker 3 (20:18):
Sign up for our personal CFO program. Watchdog on Wallstreet
dot Com is our site. Watchdog on Wallstreet dot Com
or give us a call eight hundred four seven one
fifty nine eighty four.
Speaker 1 (20:36):
This Markowski is the Watchdog.
Speaker 2 (20:38):
On Wall Street.
Speaker 1 (20:59):
Bringing America financial freedom one listener at a time. Your
list into the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (21:08):
Little old school def Leppard high school party tune for
me as I date myself.
Speaker 3 (21:15):
Welcome backy Buddy is the Watchdog on Wall Street Show.
Speaker 2 (21:21):
Again.
Speaker 3 (21:21):
This is a story we talked about all the retirement
crisis stories. I've done this countless times here on the
program as well. This is what you need to know
about the current state of the investment world, the big banks,
the big brokerage firms, and the relationship with you.
Speaker 2 (21:42):
And again this has been going on for decades.
Speaker 3 (21:46):
Too big to Fail equals get out of jail free.
Every year, every year FINRA regulators they make us take
continuing education. Now, I wouldn't mind doing it if I
was actually learning something every single year, but every single
(22:07):
year it's pretty much the same crap, which is anti
money laundering provisions what to look for. Like we hear
at Markowski Investments don't know ohg you know, the Pablo
Escobar types want to open up an account, like I'm not.
Speaker 2 (22:20):
Going to know where they're getting their money from.
Speaker 3 (22:23):
For crying out loud, it's not that difficult, it really isn't.
But year after year, Wow, for some reason, these big
brokerage firms out there, especially with all the resources that
they have and compliance officers, they can't figure it out.
They can't figure out who the bad guys are here Again,
(22:46):
Morgan Stanley's screening of wealth management clients draws more scrutiny. Yes,
they're being probed by FINRA over whether the Wall Street
giant properly vets its clients from money laundering risks. The
probe by Wall Street self regulator focuses on the firm's clients,
risk ranking, and other practices from October twenty one through
(23:09):
September twenty fourth. Listen, okay, let me explain to you something.
They will do business with anyone because they can there's
no repercussions for their actions. Do you understand that all
of these big brokerage firms out there, they are omnipotent?
(23:32):
You know what that means you can't kill them. They
can do whatever they want. I want to go back
in time, go back in time. This was under the
Obama administration. Do you remember his Attorney General, Eric Holder.
Speaker 2 (23:49):
Eric Holder was.
Speaker 3 (23:50):
Actually asked was actually asked about why you know, why
come you're not going after these big firms and all
this criminalities like sub basically paraphrasing here, excuse me. He
basically said, how can I do that? The the I
can't go after these big firms. It's economic calamity.
Speaker 2 (24:11):
Can't do it.
Speaker 3 (24:12):
And you don't think that these big firms know that.
So what's going to happen in this case with Morgan
Stanley is the same thing that happens in every single
case with every big brokerage firm with every single time
they do something wrong, every single time they break the law,
every single time they screw over another American, another institution,
(24:33):
whatever it may be, they pay a.
Speaker 2 (24:35):
Fine and they walk away. That's it.
Speaker 3 (24:40):
They pay a fine and they walk away. They have
unlimited get out of jail free cards. Now listen, why,
I'm just out of curiosity. Why would you why would
you work why would to work with the firm? Why
(25:01):
would you do business. Why would you let a firm
one of all these these these firms like that. Why
was it to manage your money knowing this, knowing that
they could stick it to you at any point in
time and no big deal?
Speaker 2 (25:14):
What do we care? What do we care? No big
what do you do to us? What was that?
Speaker 1 (25:22):
That was this?
Speaker 2 (25:23):
That Denzel Washington? There was it? The movie Training Day.
Speaker 3 (25:26):
King Gong Ain't got nothing on me that you can't
do anything to him.
Speaker 2 (25:32):
They'll pay the fine and they'll walk away.
Speaker 3 (25:35):
Listen, Okay, if you're one of the guys, you're one
of the their top clients there, you know you you
got a fifty one hundred million dollar plus account.
Speaker 2 (25:42):
That you're not.
Speaker 3 (25:43):
They're not going to screw you over. They're going to
take care of you. They're the clientele that you want.
But if you're not there, you're a number. You're a number.
Speaker 2 (25:54):
You don't matter.
Speaker 3 (25:58):
These firms will do business with rug dealers, they'll do
business with terror.
Speaker 2 (26:02):
They don't care.
Speaker 3 (26:04):
I remember talking about this when isis isis was all
the rage, Remember back when Obama was calling them the
JV team, and we.
Speaker 2 (26:14):
Talked about this here on the show.
Speaker 3 (26:16):
We actually got a hold Isis actually put out an
annual report showing all of the businesses that they were
involved with, from antiquities, dealing all sorts of stuff. And
I said, how can you not catch these guys? They
have bankers, they have bankers, they're putting money.
Speaker 2 (26:35):
Into the system. How can you not catch them? Maybe?
Speaker 3 (26:39):
Maybe don't want to. Maybe don't want to. Maybe that
that was the answer. May maybe I didn't really want
to know the answer. But what else could you come
up with? We covered HSBC several years ago they were
open expanding their teler windows in Mexico so the drug
dealers could bring in duff bags full of money.
Speaker 2 (27:03):
Really, you didn't know where that came from.
Speaker 3 (27:06):
Oh yeah, that came from the taco truck there in Tijuana. Right,
Come on, man, it's right there, it's in plain sight.
And again, you know, it's part of the nice cozy
relationship between Washington, DC and the big banks. Oh yeah,
Every now and then you'll catch us on something, we'll
(27:27):
pay a fine. You know, it won't get reported in
any of the mainstream press. Yeah, it'll make it to
the Wall Street Journal, But how many people actually read that?
Speaker 2 (27:35):
We move on?
Speaker 3 (27:36):
We run commercials on TV showing everybody how soft and
cuddly and awesome we are.
Speaker 2 (27:41):
What a load of bunk.
Speaker 3 (27:45):
Gotta take a break Watchdog on Wallstreet dot Com. Watchdog
on wallstreet dot Com tired of working with the crooks,
Well that's you know. You can get to our website
Watchdog on wallstreet dot com, sign up for our personal
CFO program all sorts of great stuff Watchdog on Wallstreet
dot com, or give us a call eight hundred four
to seven one fifty nine eighty.
Speaker 1 (28:04):
Four Tiki Wall Streets Liars, crooks and cheets out behind
the woodshed. You're listening to the Watchdog on Wall Street.
Speaker 3 (28:35):
Welcome back, Oh Genesis, welcome back. It is the watch
Dog on Wall Street show.
Speaker 2 (28:41):
Yeah. I was asked this question. I've asked the question
a lot.
Speaker 3 (28:44):
They're like, aren't you afraid of being sued? You're going
after all these big firms. I've never said anything here
on this program that was not true. What are they
going to assume me for reporting facts? I suppose they could.
(29:06):
I suppose they could, but reality is that would just
draw more attention.
Speaker 2 (29:11):
To the story.
Speaker 3 (29:12):
And I've explained this before, how how the system works?
Speaker 2 (29:17):
Yeah, you can, I do.
Speaker 3 (29:19):
I get the press releases from FINRA, from the SEC.
You know, the story in regards to Morgan Stanley and
money laundering and the things they're doing. It's not on
the front page of the Wall Street Journal. They report it,
But how many people actually read the Wall Street Journal.
I mean, everybody knows what it is. Not many people
read it. Not like you're going to see this story
on CNBC or Fox Business or any network out there.
Speaker 2 (29:45):
The same thing helps you all the financial.
Speaker 3 (29:47):
Shenanigans and scams from the dot com Eric more recently,
more recently with the the all the all the disruptor
companies back there, ring COVID and all the SPACs and
all the nonsense, and the American people getting ripped off,
insurance companies with annuities, all of the things that we
(30:10):
have reported on.
Speaker 2 (30:12):
We're the only one were it nobody else. Why do
you think that is why? Why do you think that is?
Speaker 3 (30:24):
Well, you see all of these companies, all of these
companies spend decent amount of money advertising. Do you ever
notice you never notice advertisements for the big firms out there,
insurance companies, big banks. He realized there's no real call
to action there. It's just some fluffy commercial that they
(30:47):
put out, and I made fun of these over the years,
some of these commercials, Oh my god, oh, the the
uh the stockbroker at the wedding.
Speaker 2 (30:56):
Oh, why don't you talk to Danda?
Speaker 3 (30:58):
And I mean the bs that they put out. You
do understand that by spending that money, they're just buying themselves,
you know, good, good editorial content, guaranteeing, guaranteeing that there's
not going to be any bad stories being run on them.
Speaker 2 (31:17):
And if you don't.
Speaker 3 (31:17):
Believe me, why don't you take a look because we
have at their contracts for their advertising. If you're planning
any negative coverage of said firm, pull all of our ads.
Speaker 2 (31:29):
Yeah, all the news that's fit to be bought. Kids.
Speaker 3 (31:34):
Watchdog on Wallstreet dot com. Watchdog on Wallstreet dot com.
Speaker 1 (31:38):
Back, you're listening to the Watchdog on Wall Street. This
(31:59):
is the Watchdog on Wall Street.
Speaker 2 (32:08):
Welcome back, everybody. All right. You know, funny thing about
this show.
Speaker 3 (32:15):
My my interns came into the radio station today to
watch me do the show and ask questions and they see,
you know, they're helping me out right now. They're helping
me out with my social media presence. Yeah, I'm going
on I'm going on to the TikTok and onto Instagram,
and they're you know, no, I'm not taking pictures of
myself at the gym or anything nonsensical like that. Post
(32:37):
a little videos here and there. You gotta you gotta do,
we gotta. I guess roll with the times to some degree.
But I explained to them, you know, I do a
ton of homework every single week. Obviously, we we do
our podcast every day covering the stories.
Speaker 2 (32:52):
Uh.
Speaker 3 (32:53):
I come into the studio and I really don't know
what direction I'm gonna end up in.
Speaker 2 (33:00):
I really don't.
Speaker 3 (33:02):
I I you know how, whatever the mood takes me
at that point in time. I mean, yeah, I want
to hit on certain things. But then you know, today
we're talking I know a little bit about financial scams
and ripoffs, and it used to be something we do
all the time here on the program. I haven't really
done it that much because I get I gotta admit
I get frustrated, get frustrated because you know, we warn
(33:24):
people about things. And I'd mentioned before it's my little
Sissaphian battle that I have where I'm pushing a rock
to top of the hill and it keeps rolling back.
Speaker 2 (33:34):
Down on top of me. People choosing not to listen.
Speaker 3 (33:37):
We warn people about the dot com scam, told them
what was going to happen during the financial Christ, warn
people about made Off.
Speaker 2 (33:43):
But it's it not even that.
Speaker 3 (33:45):
It's small advisors and insurance companies. People will call me
up and I want them to or they'll they'll reach
out to us, sign up for a personal CFO program.
It's almost that they want us to validate the decisions
that they're making. And when we tell them that they're
going to lose and they're going to get hurt, they
argue with us. And you know, I have to you know,
(34:07):
you have to. I have to bite my lips sometimes
and I don't yell, I don't get in. I said,
you do realize that we're the foremost in this industry. Okay,
we knew about made off before the SEC did we
knew about all these things? We've called it all over
the years. You call me up, you want me to
research something for you. We tell you you're gonna get you're
(34:30):
gonna get ripped off. You get telling you're gonna get scamed,
and then you don't listen. Yeah again, we're all you
know people parents out there you know that with your kids,
you know, you try to explain to them that you
have a you know, basically an instruction manual about life,
and you get frustrated when your kids don't listen to
you and they make silly mistakes when they don't have to.
But in my case, I know, I know, so I
(34:54):
gotta leave a conversation. Put yourself in my shoes. I
gotta leave conversations with people and my brothers knowing that
someone is going to get wiped out because they've chosen
not to listen. Anyway, here's the story. Sorry, I wanted
to share with you. This is it's problems in getting
(35:15):
our show out. You know when people will call as well,
and I appreciate that going you know, your show's not
on that station anymore. You want to know why? Comes
some local yokul broker or stock scammer wants to buy
wants to buy a time on that program, and they
tell the station we're syndicated program. They tell the station,
you got to take Markowski off the air and then
(35:37):
we'll give you money and then you can put.
Speaker 2 (35:39):
Our show on.
Speaker 3 (35:40):
And of course the little program directors are greedy at
these radio stations and they say sure, And I call
up and I.
Speaker 2 (35:48):
Say, you do know?
Speaker 3 (35:49):
You do know that the people that are listening to
the show are going to lose money, right and they
they could care less, you know, ethical bypasses at birth.
They don't just exist on Wall Street, Okay, they don't.
They're everywhere, everywhere.
Speaker 2 (36:05):
Here.
Speaker 3 (36:05):
Here is a radio show in Texas, Texas that we
warned people about, was on KTSA and San Antonio.
Speaker 2 (36:15):
Yep.
Speaker 3 (36:16):
Now I can't play the watchdog on Wall Street show
because we got to let the Texas Financial Advisory radio
show on the air. Yeah, how'd that work out? How'd
that work out for your listeners? Those guys ran a
Ponzi scheme and lost millions upon millions of dollars for
(36:37):
the clients, millions upon millions of dollars for their clients
in this case the radio station.
Speaker 2 (36:44):
They allowed this show on the air. Again.
Speaker 3 (36:47):
How many times in twenty five years have I done
the same exact story? Listen again, I gotta give you
a bit of advice. Bit of advice out there and
how to protect yourself from ripoffs and scams. Okay, they
use two different different ways of baiting you, Okay, greed
(37:12):
and fear greed and fear set the trap every single time. Okay,
how do I know this? Hey again, I've been in
the business for a long time. When I first started
on Wall Street, what was the training geared towards proper
asset allocation and financial management?
Speaker 2 (37:33):
No?
Speaker 3 (37:34):
No, no, no, no no no, it's about sales, how
to sell people. And again, you can sell people the
right way, but again they want to teach you how
to push.
Speaker 2 (37:46):
Someone's greed buttons.
Speaker 3 (37:49):
And the funny thing is people say, greed, all right, greedy,
you know want I want to help my church, I
want to do this, I want to do that.
Speaker 2 (37:55):
I get that. But that's something that you want. That's
something that you want.
Speaker 3 (38:00):
And once once the investment con artist knows what you want,
and they'll probe you, they'll ask questions, they will paint
a picture for your mind. They will paint a picture
in your mind, and you'll start using your imagination all
the things that you're gonna do with your new found
investment riches. And the inverse is also curious to said fear.
(38:25):
Fear scare people, Sky's gonna fall, World's gonna end. How
many people during the UH Great Recession financial crisis sold
out of everything, put all their money into high commission
insurance products and coins and all this other stuff because someone,
(38:50):
some investment connors, scared them into doing that.
Speaker 2 (38:56):
There's a right way people, and a wrong way people.
Speaker 3 (38:59):
It's just that's and again always remember, like I said earlier,
everything in life that has meaning, value and worth involves work,
time and effort. Have to take a break our website,
of course, Watchdog on wallstreet dot com.
Speaker 2 (39:13):
Become a part of our family.
Speaker 3 (39:15):
Sign up for our personal CFO program podcast newsletter Watchdog
on wallstreet dot com.
Speaker 2 (39:21):
We'll be back.
Speaker 1 (39:26):
Bris Markowski is the Watchdog on Wall Street
Well, no one altered. Investment banker, consumer advocate, analyst, trader.
Chris Markowski is the watchdog on Wall Street? Do you
want to answer exposing the lines and myths that the
big brokerage firms, the mainstream press, and the government are
pushing to keep Americans away from financial freedom.
Speaker 2 (00:28):
You can't handled the true.
Speaker 1 (00:29):
Proof bringing America the truth about what really happens in
the financial world. Ladies and gentlemen.
Speaker 3 (00:35):
We're not here to indulge in fantasy, but in political
and economic reality.
Speaker 1 (00:40):
This is the watchdog on Wall streets.
Speaker 3 (00:44):
Holy snipe, We've got another crisis.
Speaker 2 (00:47):
On our hands. Here, another one.
Speaker 3 (00:51):
It's just the same crisis that we get five times
a year, maybe more, every year for the past thirty years,
since I've been doing this program, since I've been in
the business.
Speaker 2 (01:01):
It's another retirement crisis.
Speaker 3 (01:04):
Yep, with uh without vail light, clockwork, media newspapers, constant stories.
Speaker 2 (01:11):
Here's another one.
Speaker 3 (01:12):
Nearly one in four Americans over fifty our delaying retirement
due to economic concerns. Wow, Where have I heard that before?
Where have we talked about that before? What have I
written about this before?
Speaker 2 (01:27):
Here?
Speaker 3 (01:27):
Here goes Older Americans are kicking the can down the
road on retirement or concerns about the economy and their
own financial readiness to step back from work.
Speaker 2 (01:38):
New survey that's out, Yes.
Speaker 3 (01:41):
Yeah, twenty three percent of those polls have already decided
to delay their retirement as they grapple with questions about
their financial readiness, up from fourteen percent and twenty twenty four.
And I can go on and on and on, YadA, YadA, YadA.
Another survey.
Speaker 4 (01:56):
What have we told you here on the program when
it comes to retirement in the entire construct in of itself,
it's pretty much ridiculous as far as I'm concerned.
Speaker 3 (02:09):
Again, I know it's conventional wisdom. And what do we
tell you about conventional wisdom here on the program? Conventional
wisdom is poison. Actually, looked it up. I said, we've
talked about retirement here in the program in the modern sense,
the modern sense. It was actually started in Germany. She
(02:31):
started in Germany eighteen eighty nine, Otto von Bismarck. He
started the world first social security program. And you know
the funny thing is, this is eighteen eighty nine. This
guy was a genius. He's like, I'm gonna give away
free stuff if you're seventy and older. You know what
the mortality was back in eighteen eighty nine Germany the
retirement age was seventy, then seventy then So how many
(02:55):
people do you think actually got it? And then you know,
moved on to the UK started THEIRS in nineteen oh eight,
and then of course we started ours in nineteen thirty five.
Guess what, kids, you're living longer and you're living healthier lives.
There's somebody alive today that's gonna live to one hundred
(03:17):
and twenty. That's just the reality of the situation. So
you think you're gonna be able to enjoy three four
decades of retirement, what exactly are you going to do
over that period of time. I mean, I like the
fish too, but you gotta go fishing every day. You're
(03:37):
gonna go golfing every day. Do you think it's healthy?
I'm here to give everybody a bit of a wake
up call. Okay, the entire business, the entire industry in
of itself, the whole retirement industry, the Wall Street constructs,
all of these things that they put up. Do you
think it's good for you? I'm just I'm being honest.
Speaker 1 (03:58):
Again.
Speaker 3 (03:59):
I've been doing this for very long period of time,
and we were the ones. We were the ones that
we were kind of ridiculed. You know when we put
this out years ago, when I talked about, Okay, listen,
I get it, I get it. You get tired of
a certain career. You've been doing it for twenty years,
thirty years, whatever it may be. You want to step back.
You want to step back, do a little sabbatical, take
(04:20):
a year off, but then go back and participate in society.
Speaker 2 (04:24):
That is a major problem that we have with this country.
Speaker 3 (04:27):
We say, oh, oh kay, ways, you know we have
sixty two, you have sixty five.
Speaker 2 (04:31):
That's it. We're putting you out the pasture. Go live
in the villages. Go live in the villages, free base.
Speaker 3 (04:37):
Viagra, go around and you know, drive your golf cart around.
Speaker 2 (04:41):
You think that's good, You think that's healthy. No, it's not.
Speaker 3 (04:47):
You know that the healthiest clients that we have are
the ones that stay engaged.
Speaker 2 (04:52):
And we talked about this.
Speaker 3 (04:53):
We talked about living your life like every week is
Thanksgiving week, right, Beth. Thanksgiving week is awesome, right, three days,
three days of work. Yeah, you chow down on Thanksgiving,
but ever nobody does anything on Friday, and think about
how much more you're going to be able to do.
Think about what we could do as a society. I've
talked about this in terms of education. Okay, you got
(05:17):
a job, you're working at Pfeiser, and you're a chemist
at Pfiser, and you know you put in your twenty
five thirty years and that's it.
Speaker 2 (05:25):
You've had enough, take a year off. Why not?
Speaker 3 (05:29):
Why not as a society we say to ourself, well,
this guy's a chemist, he worked at Pfiser for thirty years.
Why don't we put him in a high school classroom
and have him teach chemistry.
Speaker 2 (05:39):
He just wants to do one class a week.
Speaker 3 (05:41):
How maw many people took chemistry class back in high
school and had some twenty year old that basically had
no idea what in God's creation they were doing. They
weren't a chemist in the first place. They got an
education degree. What would you rather have your kid learning
chemistry from an actual chemist that's actually been there, done that,
or somebody with an edction degree that's being told that
they got to teach chemistry. You don't put people out
(06:07):
to pasture. They have to take a look. I mean,
take a couple of steps back.
Speaker 2 (06:14):
This question. Does Mick A. Jagger need any more money?
I don't think so.
Speaker 1 (06:20):
Man.
Speaker 2 (06:21):
Was he seven years old and he's on tour.
Speaker 3 (06:23):
Warren Buffett, Warren Buffett stepped back from his CEO duties
for crying out low, but he's still working there. Charlie
Munger worked till he was one hundred at that company.
There's no need for this. And I see it more
and more and more because again, the article's not wrong. Okay,
(06:44):
the article's not wrong. People haven't been preparing properly. Their
portfolios have been an absolute disaster because financial advisors all
around the country. So we gotta do a sixty to
forty portfolio and this is the way it's supposed to be,
and we got to put it into our algorithm.
Speaker 2 (07:02):
Really, really, how's that worked out? Do you really really
want to.
Speaker 3 (07:08):
Retire and then say, you know, I gotta get the
blue light special, I gotta start going out to dinner
at four o'clock because I gotta save money.
Speaker 2 (07:14):
Do you really want to deal with money concerns? Why
would you do that? And I know I know people out.
Speaker 3 (07:21):
There, what you always the roofers and people have to
do these labor intensive works I get that too.
Speaker 2 (07:27):
I get you can't do that forever.
Speaker 3 (07:29):
I understand the physical limitations of the human body, especially
in certain fields.
Speaker 2 (07:34):
But don't tell me you don't have anything to contribute.
We shouldn't. We shouldn't have people like that working in.
Speaker 3 (07:41):
Trade schools teaching kids how to do these these various
different fields. No, no, I would say the entire retirement
experiment here in this country has been an absolute disaster,
an absolute disaster. I don't think it's been healthy for
societ at all. I think it's a bit of a
(08:01):
death sentence for crying out loud. I get it that
there's the exception out there, and trust me, Okay, okay,
if you don't want to work anymore, make sure at
least you're donating your time, you're volunteering at your church,
You're keeping your mind active, you're keeping your body healthy,
(08:21):
because like everything else, it is just gonna actually, your
mind is gonna is gonna go in the opposite direction
unless you are using it. It's the same thing, same
thing with your body. The same exact thing is going
to happen. Story after story, year after year after year.
We see these things and we talk about them here
(08:42):
on the program. What do we tell you? That's basically
our philosophy at Markowski Investments. I don't even like the
phrase all new listeners out there, Okay, I don't like
the phrase financial planning.
Speaker 2 (08:56):
I really don't.
Speaker 3 (08:58):
I really know it's not it's not about planning. Okay,
I'll say this again. You've heard this before. You want
to make God laugh, Tell him your plans. You want
to make God laugh, Tell them your plans. What we
do here is we build wealth. Why do we build wealth? Well,
we understand. We understand time is your most important asset
(09:22):
that you have. And I'm a big believer in that.
I'm not a big Believer's just me. Everybody's different. I'm
not a believer in stuff. Okay, I'm a big believer
in experiences, doing things with my family, doing things with
my friends, being able to get away, and that that's important.
That's important, That that's what you want to gear yourself towards.
Not to mention the fact you also want to be
(09:42):
able to take advantage of what life throws at you.
That's what financial preparation is all about, being able to
take advantage. This is why we focus so much on
the fundamental and building wealth so you can take advantage
(10:03):
of all these things.
Speaker 2 (10:04):
And you know what the funny.
Speaker 3 (10:05):
Thing is is it's applicable to every bloody thing in life.
Speaker 2 (10:09):
Everything in life. I've discussed this here on the program.
Speaker 3 (10:12):
You want to look at the greats in anything, go
back and watch, you know, videos of Larry Bird working
on layups and free throws. The same philosophy that I
have when I coach kids in sports. Fundamentals, fundamentals, fundamentals,
why okay, so you can take advantage when you're on
the field of play, whether it be in business, whether
(10:34):
it be in sports or anything else in life, and
you are going to be able to succeed.
Speaker 2 (10:41):
Setting up your life. Yeah. I laugh at this all
the time. Yeah.
Speaker 3 (10:45):
Kids, kids sit down at their their first job on
I recent college grads out there, and you know, they
get some job and then the well, the yocal local
broker from Merrill Lynch with the four or one K
plan comes in there and he's got those little questionnaire.
Speaker 2 (10:58):
Okay, well when do you plan on retiring? Here?
Speaker 3 (11:01):
You're gonna put some sort of date down. What you're
asking a twenty two year old when they're gonna check out,
why would you do that? And why would you ever
want to set your life up in such a way
where you're saying to yourself.
Speaker 2 (11:14):
Hey, you know what this date, this date, I'm gonna retire.
Speaker 1 (11:19):
What.
Speaker 3 (11:21):
No, No, you live every day to the fullest, and
you take advantage of every single opportunity that is presented
to you. You do that, you know what, You're gonna
live a very very full life. This whole idea, and
it's a great business model. I mean you think about you,
(11:41):
all the big firms out there, all the mutual fun
companies over the years, all the accounts that they that
they put out there, and hey, listen, I do it too.
Speaker 2 (11:51):
I max out all my qualified plans. Why not? Why not?
You know what's gonna happen with those qualified plans. I'm
gonna give you my kids.
Speaker 3 (11:58):
Someday I'm not gonna need them, tell them I gonna
need them. Four take advantage of for tax purposes. I
enjoy what I do, and I agree, I get it.
Not everybody's gonna absolutely love what they do and love
their job. And this is why, you know what, You
get to that point when I'm tired of fine, then
go find something else that you want to do. But
the idea that you have to check out at some
(12:20):
point in time. Why it makes no sense, never has
to me. Again, everybody's different, everyone's unique. But man, oh man, Okay,
if you're planning on it. If you're planning on it, man,
you better have saved a ton of money. You better
(12:41):
saved a ton of money. Because we all see how
expensive everything is. Prices aren't coming down. There is one
of the biggest waves of accounts that we get in here.
People who are retired that are flipping out because they
don't have enough listen, and to younger people out there,
(13:02):
I think again, I'm giving you my opinion. You could
tell me to take a long walk off a short pier,
aren't it. I'm retiring, I'm fine, okay, but make sure
you're ready. That's what we're here for. I'm gonna take
quick break right here again. Remind everybody, okay, we're here
to help everyone out. I make this perfectly clear every
(13:24):
single week no Velvet Rope at Markowski Investments. I don't
have as some obnoxious bouncer at the front door asking
if you have ten million dollars to work with us.
Speaker 2 (13:33):
We help everyone.
Speaker 3 (13:34):
Get to our website, Watchdog on Wallstreet Dot com. That's
Watchdog on Wallstreet dot com.
Speaker 2 (13:40):
Sign up for our.
Speaker 3 (13:41):
Personal c f all program. That's what we're here for.
We're here to help you. Also sign up for our
podcast newsletter All Sorts of great Stuff Watchdog on Wallstreet
dot com. We also have a twenty four hour day
help hotline eight hundred four seven one fifty nine eighty
four watch Dog on wallstreet dot Com.
Speaker 2 (14:00):
We'll be back.
Speaker 1 (14:17):
You should believe in math not magic. You're listening to
the Watchdog in Wall Street with Chris Markowski.
Speaker 3 (14:29):
Ye, back everybody. It is the one, the only, the
Watchdog on Wall Street. Yes, I am Chris Markowski. We
have the longest running financial program in the country. Twenty
five year's big anniversary year for us here on the program.
Speaker 2 (14:46):
They gave us participation trophy.
Speaker 3 (14:49):
No, they didn't do that, but anyway, anyway, I actually
did a deep dive. I did did a deep dive
and looked throughout history in regards to retirement plans in history,
and the closest thing we could come to a retirement
plan is actually the Roman legions, and it wasn't even
a retirement plan. They get they would get a land grant,
(15:11):
they would get a land after twenty years of military serve.
I think it is a great idea we should do
that here in this country. Twenty years in the military.
You know, they should get, you know, a piece of land.
It's fantastic. It's a Roman empire used to do, and
actually medieval Europe, Medieval Europe, and again you got to
think about the hard labor that they had to do back.
Speaker 2 (15:34):
At that point in time when they couldn't do anymore.
You know what they did. They went and they worked
for the church.
Speaker 3 (15:39):
They weren't work at monasteries and things like that, but
remained active.
Speaker 2 (15:44):
It's important. Anyway, I got a kick out of this again,
newer listeners.
Speaker 3 (15:53):
I explained to my longtime listeners and people that have
been following Markowski investments prior to this radio show for
over thirty years. They understand that we lead, everybody else follows.
Everybody else follows. And again, you know, philosophy, same thing
folks over Berkshire, Hathaway, Drunken Miller's in the world. You know,
(16:13):
we don't have any magic algorithm or anything like that.
We don't go into any fads, but the same thing
we've been teaching everybody.
Speaker 2 (16:23):
Now all of a sudden is.
Speaker 5 (16:25):
In vogue, in vogue, you've got you got you know,
the Rick Edelman's of the world, and now you know
some of the some of the McDonald's brokerage firms out there,
the the you know, the Fishers, the Amor Prizes, the
Raymond James Edward Jones is out there.
Speaker 2 (16:43):
They're starting to get on board what we've been telling.
Speaker 3 (16:46):
People to do for decades, which is, uh, you can't
have a sixty forty portfolio.
Speaker 2 (16:53):
It makes no sense.
Speaker 3 (16:55):
You want to and this is if you want to retire,
This is you want to retire.
Speaker 2 (16:59):
You know, you want to check out at sixty two
or sixty five.
Speaker 3 (17:02):
If you've done that, If you've done that, then you
know what you're in trouble. You just don't have enough saved.
And past several weeks we've talked about this a lot.
We talked about stagflation, and again we predicted all of
this years ago, seeing the type of money that the
(17:23):
government spends, seeing people's buying power, spending power, basically going
to toilet. I mean, it's really gotten bad over the
past five years. But if you really want to go
back back to when you know the last time, you know,
the government kind of ran a sir plus to go
back to two thousand, you know, and we've lost what
(17:44):
since that point in time, almost almost fifty percent of
our buying power. I mean, get your arms around that person.
He lost almost fifty percent of your buying power over
the past twenty five years. Yet these same investment firms
out there, are you gonna do it this way and
this is what the computer model tells us to do.
Speaker 2 (18:05):
And how's that worked out for you? How's it worked
out for you?
Speaker 3 (18:11):
One after another after another, person after person, individual behind
the eight ball? And you know what happens when when
people get behind the eight ball and they realize, well,
then they get desperate.
Speaker 2 (18:25):
They make poor choices.
Speaker 3 (18:26):
Rather than say to themselves, you know, you know, maybe
I'm gonna retire, but maybe I'm gonna have to work
a little bit, what they do is is they take
on ridiculous risks in their portfolio. This is and again
the con artists are well aware of this. You know,
you see all these retirement crisis stories out there. Do
(18:48):
you understand all of the liars, crooks and sheets out
there are licking their chops saying, oh boy, yeah, yeah,
these people are gonna be desperate, and we can all
for them something we can. We can say, oh, look
at this annuity, and look at this bonus we're gonna
give you in this annuity, and look it's gonna be guaranteed,
(19:09):
and and people don't read the fine print and their
funds are locked up. I get a kick out of
that commercial the other day, somebody, Oh, it's got a
seventy five percent bump as soon as you sign.
Speaker 2 (19:23):
On right, sure you are? Sure you are?
Speaker 3 (19:28):
Because they know you can't take that money out, can't
take that money? Why not make it a why not
make it a two hundred two hundred percent bump? For
crying out loud, you're only letting them take out X
amount of dollars and you know at a certain point
in time they're not gonna be here. Listen to people
that there's a right way of doing things and the
(19:48):
wrong way of doing things. There's no shortcuts in life.
But what is our motto here? What have we been
saying for twenty five years on air? Everything in life
that has meaning, value and worth involves work, time and effort.
Speaker 2 (20:09):
Become a part of.
Speaker 3 (20:10):
Our family at Markowski Investments. Let us take a look
at your portfolio make sure you're doing the right things.
Speaker 2 (20:17):
Get there.
Speaker 3 (20:18):
Sign up for our personal CFO program. Watchdog on Wallstreet
dot Com is our site. Watchdog on Wallstreet dot Com
or give us a call eight hundred four seven one
fifty nine eighty four.
Speaker 1 (20:36):
This Markowski is the Watchdog.
Speaker 2 (20:38):
On Wall Street.
Speaker 1 (20:59):
Bringing America financial freedom one listener at a time. Your
list into the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (21:08):
Little old school def Leppard high school party tune for
me as I date myself.
Speaker 3 (21:15):
Welcome backy Buddy is the Watchdog on Wall Street Show.
Speaker 2 (21:21):
Again.
Speaker 3 (21:21):
This is a story we talked about all the retirement
crisis stories. I've done this countless times here on the
program as well. This is what you need to know
about the current state of the investment world, the big banks,
the big brokerage firms, and the relationship with you.
Speaker 2 (21:42):
And again this has been going on for decades.
Speaker 3 (21:46):
Too big to Fail equals get out of jail free.
Every year, every year FINRA regulators they make us take
continuing education. Now, I wouldn't mind doing it if I
was actually learning something every single year, but every single
(22:07):
year it's pretty much the same crap, which is anti
money laundering provisions what to look for. Like we hear
at Markowski Investments don't know ohg you know, the Pablo
Escobar types want to open up an account, like I'm not.
Speaker 2 (22:20):
Going to know where they're getting their money from.
Speaker 3 (22:23):
For crying out loud, it's not that difficult, it really isn't.
But year after year, Wow, for some reason, these big
brokerage firms out there, especially with all the resources that
they have and compliance officers, they can't figure it out.
They can't figure out who the bad guys are here Again,
(22:46):
Morgan Stanley's screening of wealth management clients draws more scrutiny. Yes,
they're being probed by FINRA over whether the Wall Street
giant properly vets its clients from money laundering risks. The
probe by Wall Street self regulator focuses on the firm's clients,
risk ranking, and other practices from October twenty one through
(23:09):
September twenty fourth. Listen, okay, let me explain to you something.
They will do business with anyone because they can there's
no repercussions for their actions. Do you understand that all
of these big brokerage firms out there, they are omnipotent?
(23:32):
You know what that means you can't kill them. They
can do whatever they want. I want to go back
in time, go back in time. This was under the
Obama administration. Do you remember his Attorney General, Eric Holder.
Speaker 2 (23:49):
Eric Holder was.
Speaker 3 (23:50):
Actually asked was actually asked about why you know, why
come you're not going after these big firms and all
this criminalities like sub basically paraphrasing here, excuse me. He
basically said, how can I do that? The the I
can't go after these big firms. It's economic calamity.
Speaker 2 (24:11):
Can't do it.
Speaker 3 (24:12):
And you don't think that these big firms know that.
So what's going to happen in this case with Morgan
Stanley is the same thing that happens in every single
case with every big brokerage firm with every single time
they do something wrong, every single time they break the law,
every single time they screw over another American, another institution,
(24:33):
whatever it may be, they pay a.
Speaker 2 (24:35):
Fine and they walk away. That's it.
Speaker 3 (24:40):
They pay a fine and they walk away. They have
unlimited get out of jail free cards. Now listen, why,
I'm just out of curiosity. Why would you why would
you work why would to work with the firm? Why
(25:01):
would you do business. Why would you let a firm
one of all these these these firms like that. Why
was it to manage your money knowing this, knowing that
they could stick it to you at any point in
time and no big deal?
Speaker 2 (25:14):
What do we care? What do we care? No big
what do you do to us? What was that?
Speaker 1 (25:22):
That was this?
Speaker 2 (25:23):
That Denzel Washington? There was it? The movie Training Day.
Speaker 3 (25:26):
King Gong Ain't got nothing on me that you can't
do anything to him.
Speaker 2 (25:32):
They'll pay the fine and they'll walk away.
Speaker 3 (25:35):
Listen, Okay, if you're one of the guys, you're one
of the their top clients there, you know you you
got a fifty one hundred million dollar plus account.
Speaker 2 (25:42):
That you're not.
Speaker 3 (25:43):
They're not going to screw you over. They're going to
take care of you. They're the clientele that you want.
But if you're not there, you're a number. You're a number.
Speaker 2 (25:54):
You don't matter.
Speaker 3 (25:58):
These firms will do business with rug dealers, they'll do
business with terror.
Speaker 2 (26:02):
They don't care.
Speaker 3 (26:04):
I remember talking about this when isis isis was all
the rage, Remember back when Obama was calling them the
JV team, and we.
Speaker 2 (26:14):
Talked about this here on the show.
Speaker 3 (26:16):
We actually got a hold Isis actually put out an
annual report showing all of the businesses that they were
involved with, from antiquities, dealing all sorts of stuff. And
I said, how can you not catch these guys? They
have bankers, they have bankers, they're putting money.
Speaker 2 (26:35):
Into the system. How can you not catch them? Maybe?
Speaker 3 (26:39):
Maybe don't want to. Maybe don't want to. Maybe that
that was the answer. May maybe I didn't really want
to know the answer. But what else could you come
up with? We covered HSBC several years ago they were
open expanding their teler windows in Mexico so the drug
dealers could bring in duff bags full of money.
Speaker 2 (27:03):
Really, you didn't know where that came from.
Speaker 3 (27:06):
Oh yeah, that came from the taco truck there in Tijuana. Right,
Come on, man, it's right there, it's in plain sight.
And again, you know, it's part of the nice cozy
relationship between Washington, DC and the big banks. Oh yeah,
Every now and then you'll catch us on something, we'll
(27:27):
pay a fine. You know, it won't get reported in
any of the mainstream press. Yeah, it'll make it to
the Wall Street Journal, But how many people actually read that?
Speaker 2 (27:35):
We move on?
Speaker 3 (27:36):
We run commercials on TV showing everybody how soft and
cuddly and awesome we are.
Speaker 2 (27:41):
What a load of bunk.
Speaker 3 (27:45):
Gotta take a break Watchdog on Wallstreet dot Com. Watchdog
on wallstreet dot Com tired of working with the crooks,
Well that's you know. You can get to our website
Watchdog on wallstreet dot com, sign up for our personal
CFO program all sorts of great stuff Watchdog on Wallstreet
dot com, or give us a call eight hundred four
to seven one fifty nine eighty.
Speaker 1 (28:04):
Four Tiki Wall Streets Liars, crooks and cheets out behind
the woodshed. You're listening to the Watchdog on Wall Street.
Speaker 3 (28:35):
Welcome back, Oh Genesis, welcome back. It is the watch
Dog on Wall Street show.
Speaker 2 (28:41):
Yeah. I was asked this question. I've asked the question
a lot.
Speaker 3 (28:44):
They're like, aren't you afraid of being sued? You're going
after all these big firms. I've never said anything here
on this program that was not true. What are they
going to assume me for reporting facts? I suppose they could.
(29:06):
I suppose they could, but reality is that would just
draw more attention.
Speaker 2 (29:11):
To the story.
Speaker 3 (29:12):
And I've explained this before, how how the system works?
Speaker 2 (29:17):
Yeah, you can, I do.
Speaker 3 (29:19):
I get the press releases from FINRA, from the SEC.
You know, the story in regards to Morgan Stanley and
money laundering and the things they're doing. It's not on
the front page of the Wall Street Journal. They report it,
But how many people actually read the Wall Street Journal.
I mean, everybody knows what it is. Not many people
read it. Not like you're going to see this story
on CNBC or Fox Business or any network out there.
Speaker 2 (29:45):
The same thing helps you all the financial.
Speaker 3 (29:47):
Shenanigans and scams from the dot com Eric more recently,
more recently with the the all the all the disruptor
companies back there, ring COVID and all the SPACs and
all the nonsense, and the American people getting ripped off,
insurance companies with annuities, all of the things that we
(30:10):
have reported on.
Speaker 2 (30:12):
We're the only one were it nobody else. Why do
you think that is why? Why do you think that is?
Speaker 3 (30:24):
Well, you see all of these companies, all of these
companies spend decent amount of money advertising. Do you ever
notice you never notice advertisements for the big firms out there,
insurance companies, big banks. He realized there's no real call
to action there. It's just some fluffy commercial that they
(30:47):
put out, and I made fun of these over the years,
some of these commercials, Oh my god, oh, the the
uh the stockbroker at the wedding.
Speaker 2 (30:56):
Oh, why don't you talk to Danda?
Speaker 3 (30:58):
And I mean the bs that they put out. You
do understand that by spending that money, they're just buying themselves,
you know, good, good editorial content, guaranteeing, guaranteeing that there's
not going to be any bad stories being run on them.
Speaker 2 (31:17):
And if you don't.
Speaker 3 (31:17):
Believe me, why don't you take a look because we
have at their contracts for their advertising. If you're planning
any negative coverage of said firm, pull all of our ads.
Speaker 2 (31:29):
Yeah, all the news that's fit to be bought. Kids.
Speaker 3 (31:34):
Watchdog on Wallstreet dot com. Watchdog on Wallstreet dot com.
Speaker 1 (31:38):
Back, you're listening to the Watchdog on Wall Street. This
(31:59):
is the Watchdog on Wall Street.
Speaker 2 (32:08):
Welcome back, everybody. All right. You know, funny thing about
this show.
Speaker 3 (32:15):
My my interns came into the radio station today to
watch me do the show and ask questions and they see,
you know, they're helping me out right now. They're helping
me out with my social media presence. Yeah, I'm going
on I'm going on to the TikTok and onto Instagram,
and they're you know, no, I'm not taking pictures of
myself at the gym or anything nonsensical like that. Post
(32:37):
a little videos here and there. You gotta you gotta do,
we gotta. I guess roll with the times to some degree.
But I explained to them, you know, I do a
ton of homework every single week. Obviously, we we do
our podcast every day covering the stories.
Speaker 2 (32:52):
Uh.
Speaker 3 (32:53):
I come into the studio and I really don't know
what direction I'm gonna end up in.
Speaker 2 (33:00):
I really don't.
Speaker 3 (33:02):
I I you know how, whatever the mood takes me
at that point in time. I mean, yeah, I want
to hit on certain things. But then you know, today
we're talking I know a little bit about financial scams
and ripoffs, and it used to be something we do
all the time here on the program. I haven't really
done it that much because I get I gotta admit
I get frustrated, get frustrated because you know, we warn
(33:24):
people about things. And I'd mentioned before it's my little
Sissaphian battle that I have where I'm pushing a rock
to top of the hill and it keeps rolling back.
Speaker 2 (33:34):
Down on top of me. People choosing not to listen.
Speaker 3 (33:37):
We warn people about the dot com scam, told them
what was going to happen during the financial Christ, warn
people about made Off.
Speaker 2 (33:43):
But it's it not even that.
Speaker 3 (33:45):
It's small advisors and insurance companies. People will call me
up and I want them to or they'll they'll reach
out to us, sign up for a personal CFO program.
It's almost that they want us to validate the decisions
that they're making. And when we tell them that they're
going to lose and they're going to get hurt, they
argue with us. And you know, I have to you know,
(34:07):
you have to. I have to bite my lips sometimes
and I don't yell, I don't get in. I said,
you do realize that we're the foremost in this industry. Okay,
we knew about made off before the SEC did we
knew about all these things? We've called it all over
the years. You call me up, you want me to
research something for you. We tell you you're gonna get you're
(34:30):
gonna get ripped off. You get telling you're gonna get scamed,
and then you don't listen. Yeah again, we're all you
know people parents out there you know that with your kids,
you know, you try to explain to them that you
have a you know, basically an instruction manual about life,
and you get frustrated when your kids don't listen to
you and they make silly mistakes when they don't have to.
But in my case, I know, I know, so I
(34:54):
gotta leave a conversation. Put yourself in my shoes. I
gotta leave conversations with people and my brothers knowing that
someone is going to get wiped out because they've chosen
not to listen. Anyway, here's the story. Sorry, I wanted
to share with you. This is it's problems in getting
(35:15):
our show out. You know when people will call as well,
and I appreciate that going you know, your show's not
on that station anymore. You want to know why? Comes
some local yokul broker or stock scammer wants to buy
wants to buy a time on that program, and they
tell the station we're syndicated program. They tell the station,
you got to take Markowski off the air and then
(35:37):
we'll give you money and then you can put.
Speaker 2 (35:39):
Our show on.
Speaker 3 (35:40):
And of course the little program directors are greedy at
these radio stations and they say sure, And I call
up and I.
Speaker 2 (35:48):
Say, you do know?
Speaker 3 (35:49):
You do know that the people that are listening to
the show are going to lose money, right and they
they could care less, you know, ethical bypasses at birth.
They don't just exist on Wall Street, Okay, they don't.
They're everywhere, everywhere.
Speaker 2 (36:05):
Here.
Speaker 3 (36:05):
Here is a radio show in Texas, Texas that we
warned people about, was on KTSA and San Antonio.
Speaker 2 (36:15):
Yep.
Speaker 3 (36:16):
Now I can't play the watchdog on Wall Street show
because we got to let the Texas Financial Advisory radio
show on the air. Yeah, how'd that work out? How'd
that work out for your listeners? Those guys ran a
Ponzi scheme and lost millions upon millions of dollars for
(36:37):
the clients, millions upon millions of dollars for their clients
in this case the radio station.
Speaker 2 (36:44):
They allowed this show on the air. Again.
Speaker 3 (36:47):
How many times in twenty five years have I done
the same exact story? Listen again, I gotta give you
a bit of advice. Bit of advice out there and
how to protect yourself from ripoffs and scams. Okay, they
use two different different ways of baiting you, Okay, greed
(37:12):
and fear greed and fear set the trap every single time. Okay,
how do I know this? Hey again, I've been in
the business for a long time. When I first started
on Wall Street, what was the training geared towards proper
asset allocation and financial management?
Speaker 2 (37:33):
No?
Speaker 3 (37:34):
No, no, no, no no no, it's about sales, how
to sell people. And again, you can sell people the
right way, but again they want to teach you how
to push.
Speaker 2 (37:46):
Someone's greed buttons.
Speaker 3 (37:49):
And the funny thing is people say, greed, all right, greedy,
you know want I want to help my church, I
want to do this, I want to do that.
Speaker 2 (37:55):
I get that. But that's something that you want. That's
something that you want.
Speaker 3 (38:00):
And once once the investment con artist knows what you want,
and they'll probe you, they'll ask questions, they will paint
a picture for your mind. They will paint a picture
in your mind, and you'll start using your imagination all
the things that you're gonna do with your new found
investment riches. And the inverse is also curious to said fear.
(38:25):
Fear scare people, Sky's gonna fall, World's gonna end. How
many people during the UH Great Recession financial crisis sold
out of everything, put all their money into high commission
insurance products and coins and all this other stuff because someone,
(38:50):
some investment connors, scared them into doing that.
Speaker 2 (38:56):
There's a right way people, and a wrong way people.
Speaker 3 (38:59):
It's just that's and again always remember, like I said earlier,
everything in life that has meaning, value and worth involves work,
time and effort. Have to take a break our website,
of course, Watchdog on wallstreet dot com.
Speaker 2 (39:13):
Become a part of our family.
Speaker 3 (39:15):
Sign up for our personal CFO program podcast newsletter Watchdog
on wallstreet dot com.
Speaker 2 (39:21):
We'll be back.
Speaker 1 (39:26):
Bris Markowski is the Watchdog on Wall Street
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
NFL Daily with Gregg Rosenthal
Gregg Rosenthal and a rotating crew of elite NFL Media co-hosts, including Patrick Claybon, Colleen Wolfe, Steve Wyche, Nick Shook and Jourdan Rodrigue of The Athletic get you caught up daily on all the NFL news and analysis you need to be smarter and funnier than your friends.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.