[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.
[00:00:18] Speaker B: This is another Money Show. Get set for another hour of the latest financial information and economic news affecting your bottom line. J.R. and Anthony are committed to helping more Americans like you optimize their inc. Reduce their tax risk and reach financial freedom. So let's start the show. Here are your hosts Anthony Correo and JR Rochford.
[00:00:42] Speaker C: Here we are, your hosts Anthony Correjo and JR Rochford and our beautiful producer Sam Davis. Taking a break from our day to day as financial advisors with Rochford and Associates fully independent fourth generation family office right here in the greater Phoenix area to bring information you may not find on those other financial radio shows. We're aware the last thing you need is another money show, but we appreciate you being here and seeing as we have this platform. I think I've brought it up a couple of times but I mean I think everybody knows my thoughts on politics and the financial world in general. But what I do actually enjoy is race cars and I host private track days under the name PTO Track Days. So if any of you are into track cars race cars, Arizona Motorsports park, we've been working with them for a long time. They are near Luke Air Force Base and it's not looking good. It's a good chance that that track will not be around much longer. So we're hosting two track days in April. Next one is April 14th. We still have some spots open so. So if you are into track cars and you want one more chance to drive at Arizona Motorsports Car or Arizona Motorsports park, you can reach out to us
[email protected] Give us a call. 623-523-0444. Macy will have no idea what you're talking about. I'm sure JR will have no idea. But I will return your calls and I will talk to you about race car stuff. So there we go. We make fun of or I make fun of JR for being a slimy salesman. And that was my slimy salesman pitch for today.
[00:02:27] Speaker D: That was bad. That was shameless. So I mean I even feel like buying a race car to start and go out there. So it was effective.
[00:02:32] Speaker C: Only thing I don't feel bad about, I like selling race car stuff.
[00:02:37] Speaker D: Excellent. Can we talk about money now?
[00:02:38] Speaker C: I mean no I don't want to. I want to talk about how people should spend all of their money on that new ZR1 Corvette with 1100 horsepower.
[00:02:48] Speaker D: How much is it?
[00:02:49] Speaker C: It's like a hundred. It'll be about 200,000 after options.
[00:02:54] Speaker D: All right. Can I get the windows tinted for another 400 bucks? All right, moving on.
Moving on from race day.
[00:03:02] Speaker C: That's my shameless plug. Now we can yield tariffs or we'll hold off on tariffs. We got news first, I think.
[00:03:08] Speaker D: Tariffs. Yeah, I guess we have to at least bring that up later. So quick, shout out first. Every, I mean, every week lately I'm hearing from people that I didn't know. We're listening to the show every week. We saw our buddy Linda. Linda from Phoenix was in the office yesterday and apparently she enjoys the show. So Linda, thanks for listening, Gary. I kind of figured you were still listening. So. Gary's it's just great that we have all these people listening. So if you want to help us, share us with other people, let people know that we're there, we would appreciate it. We're at 5 in the morning for you early risers on 9 60, the patriot or noon, our normal time slot. So. And I have a shameless plug, too, as long as today's all about sales and not about education. So we're doing our monthly West Valley men's networking next Tuesday at Throne and Throne. Why are you not a sponsor yet? I mean, we support you every month. So we, we, we'll be at Throne. We have a guest coming with us. So if you're listening to this and you've heard Joe Jaquent on our show or if you listen to Joe on Phoenix Radio, he's going to come and finally hang out with us. So I've never met Joe in person and I'm looking forward to it. So if you can make it Next, next Tuesday, the 8th of April, 4:00 at Thrones, 67th Avenue in Bell, we would love to see you. And you'll get to meet Joe, who I have a little bit of a crush on even more than Mel Gibson. Sam. So it's true. I mean, I like Mel Gibson. Everybody knows we're on a first name basis and I shouldn't name drop like this. I know. I was with Jack Nicholson years ago and he said don't do that. Don't name drop. It's pretentious. So moving on. Oh, one last piece of business before we get into things today. We're going to do something we should have done a long time Ago. We're going to have a friend of ours who is an estate planning attorney. He's scheduled to come on with us on April 24th. Sam, I don't know if, if we talk about a date yet, but hopefully that's okay with you. I probably should run that by the producer before I announce it. So it looks like April 24th we're going to have Mike McGreevey on.
[00:05:25] Speaker C: So we haven't had him on before for some reason I thought we did, or maybe we had it, scheduled it and didn't work out. But he's going to be a good addition.
[00:05:33] Speaker D: Yeah. And I. Yeah, and it's so important. I mean, we, you know, doing this job, we can do the perfect financial plan for somebody. And if there's a gaping hole in it, we didn't do our job. We were not advisors, we were salespeople. So we are huge. You know, we bring up umbrella policies, we bring up all kinds of things that have nothing to do with what we do personally. But we want to make sure you are all around healthy with your financial plan. So tune in on the 24th for Mike. You can actually hear him twice. Five in the morning and noon. Moving on. I had a little conversation with the one and only Sam Davis last week and the week before, and we talked a little bit because Sam is not only the best producer you're going to find in this country, maybe the planet, I'm not sure. But something else about Sam. He's a licensed financial advisor, so. So Sam is also. He does what we do. So talk about wearing a couple hats and being good at multitasking. So, Sam, we talked a little bit about how it's difficult, you know, when you, especially when you're newer in this job, because you know, the first thing you want to do is reach out to your family and friends. But then you realize you don't have the experience. You don't want to make a mistake, you know, I mean, have you hit up your family and friends yet, Sam?
[00:06:51] Speaker E: Well, I mean, it's certainly something that I want to be as helpful as I, as I can. You know, when I first went to college, I was actually going on a pre medical route so that I would eventually be working as a doctor in my community. Ended up going away from that path. But I still want to help people. If I can spend my days helping people improve their lives, that's something that I want to be doing. And then. Especially if it's your family. Right, but then you're worried, you know, you don't Want to come off as, oh, I'm trying to take advantage of a family member or I'm trying to make a buck off of a friend or something like that. But especially, you know, with folks who are like my parents or my parents age, particularly in weeks like this, I'm concerned because I see the market going through wild swings. I know they're worried in it. I have a sense of urgency, more so with my parents because I know that if they don't have a plan in place and if they need help someday, you know, 10, 20 years from now, 30 years from now, I will feel responsible to take care of them then and I feel responsible to try and take care of them now. So, you know anybody out there who's, who's my parents age, kind of a pre retiree, you know, 50s, early 60s. That's, that's somebody right now, a type of person that I'm really looking to help with everything that's happening in the world and they're exiting their careers and just trying to set them up for success and that peace of mind in retirement so they can do whatever they want.
[00:08:18] Speaker D: Well, I love that. And one thing, you know, with Anthony, he's been in the office for seven years. Anthony is smarter than me. He's an engineer by trade. He's good at the details, the plans for people. I'm big picture storyteller. I talk about market swings and general stuff. So we work well together. Sam, you, you know so many people. I mean, you, you work with other planners. The, you know, if, if somebody needs somebody who's been through market swings, needs more experience, team up. I mean, you know, Anthony and I can do appointments together and I bring the real life experience of living through the 2000 tech bubble plane, hitting a building, 2008. And I mean, don't be afraid to have somebody go with you. You know, the one thing too, over the years when I was a little bit reluctant to go after family and friend, you know, when I was new, something that years later occurred to me.
We are all licensed to do life insurance for one thing. It's like I've had people over the years, they were like, well, I didn't know you do that. You know, I would have had life insurance. I didn't know you do that. We need to let people know what we do. I mean, you know, we need, even if they don't go to us, we need to make sure they know what we do. You know, in Phoenix, at least in the summer, there's car washes every week because People don't have life insurance. There's GoFundMes, there's all this stuff. You know, wouldn't it be better to make sure you approach people, let them know you can do that for them and you're never going to try to rip them off, then them say later, I just didn't know you did that.
[00:09:49] Speaker C: So anyway, now this is a sales pitch to get Sam to join Ratchford and Associates.
[00:09:54] Speaker D: So, yeah, yeah, I mean, you're the one that said if we get them on board, we'll give them a new ZRX143B with tinted windows or whatever the heck it was. So, heck, yeah, we're going to bring Sam. You got to jump on board quickly, though, because there's a track day on like the 14th of April, and this.
[00:10:09] Speaker C: Is a little get out there on track.
[00:10:11] Speaker D: Only the next 10 callers can come on that track because apparently down if you don't. So. And you have to have a minimum of two Corvettes to ride on our track day. But other than that, you're safe.
Let's jump into a little bit. As you know, if you've listened to us for any length of time, our motto, we want you prepared and not scared. We want you proactive and not reactive. Well, I guess I'm going to go right towards the new updates this week with the tariffs. What is it, Independence Day or what did we just experience today, by the way, is the 3rd of April as we record and the market is very, very wild today. Dow Jones, when I first looked in, was down 1500 points. It's since recovered a great deal. It's only down 1400 as I look over. It's wild. We've been telling you for three years, know what you have. You know, a lot of times when you, when you meet people, they've got a guy, everybody's got a guy, or they do it themselves.
Make sure whoever's helping you manage your money is being proactive, not reactive. Make sure people are held accountable. It's not their money, it's your money. So if you've listened to us, you probably know we already wanted you to pay down debt, be diversified. I'll give you an example. I mean, let's say you came to me years ago and the market had already been like, you know, 10, 11, 12 year run up since the end of the 2008, the Great Recession. And I had said to you, here's a general strategy and obviously on here we can't give specific recommendations or advice, but here's a General strategy. You're pretty young, you know, Sam, it's your parents. You said late 50s, early 60s. That's still really, really young. Because if they retire in that timeframe, we've got to get them through their 90s, you know, tell me when you're going to die and I'll tell you how much to save. I'll tell you how much life insurance to buy. But if you can't, we got a plan for today and tomorrow. So anyway, what if I had told you, let's take half your money and safeguard it. We have safe options, whether it's a bond ladder, a CD ladder, a fixed annuity ladder. We, you know, cash, cash at home. If we safeguarded half your money and then the other half, it does two things. It hedges your bets. We're huge believers in diversification and moderation. We are more conservative than a lot of practices. You know, we, we say we protect and grow in that order. We say that on purpose. We don't want you to have days like today and panic. So had you safeguarded, half your money and half is at risk, it buys you time. Let's say this market really does grow legs. And Anthony, you finally, after seven years, get to see a market crash. Not just a correction. We're already in correction territory before today. Not just a, you know, a downturn, but, but really, if you get to see something bad part of this whole thing, a, if you've done things correctly, you're going to have tremendous opportunities. So this may be very good for you coming up soon. If you've got some money on the side, you know, the managed money that Anthony does one of his things, he looks at energy, he looks at defensive, he looks at all these different sectors. You know what else he's done for people. He's got money on the side for opportunities. So maybe this is it. Maybe it's time for people to research the term dollar cost averaging. Maybe it's time to start buying. Remember the guy, Warren Buffett, you know, a pretty well known financial dude, he was like, you know, when people are fearful, I'm greedy. When people are greedy, I'm fearful. So Warren spent the last year and a half, two years selling Apple, selling stocks. You don't think he's going to start buying back in if this grows legs? Of course he is. So you can do that too. Maybe just with, you know, millions instead of billions. I have a question about the word billions. Why when people say the word billion do they always say with a B, you always say that's billions. With a B, you never say that's millions with an M. I've noticed we're in the trillions now. I, I never hear anybody say that's trillions with a T over the US debt clock, just billions. So with a B.
So basically what I want people to get from this, if you're listening to us on Saturday, for example, do not panic. Panic should never be a part of financial planning. If you're freaking out over this thing with tariffs, hang on. Because this is not a short lived solution to our country's future. This, this is a long game that's being played right now. We have to hope it works. You know, the, the tariff.
[00:14:53] Speaker C: And you forget that you have 20 years of a run up in the market. So you have one day and lose your mind, you lose 10% and it's, it's so insane. I don't get it. I don't know why people freak out. They don't look at the big picture.
[00:15:08] Speaker D: And the word panic right there already this morning on Facebook already, you know what I'm seeing is some panic. And I'm like, what's that? What, what is wrong with you?
Buy low, sell high before, and you're still high.
[00:15:22] Speaker C: You're still so high. This is nothing. This is absolutely nothing of a drop. Absolutely nothing.
[00:15:29] Speaker D: And when you got mad at me a couple of weeks and not mad at me, but when you were, you know, I'm talking about fixed accounts or insurance companies. Ooh, let me say the A word. It's so funny. Do we, if somebody comes in the office with $100,000, do we put $100,000 into a fixed annuity? Nope, never. We recommend they take some of it and put it at home in physical cash. We look at their credit card debt, we look at how much they should have in a bank, maybe a high yield bank account at an online bank. We look at how much they should have ready if there's opportunities with you for managed money and securities. And then we look at how much the safeguard. So the right answer is very rarely in life, all or nothing. Life is not as black and white as we make it. It's usually kind of gray. So yeah, Anthony, you're right. Sam, you are right. If you can't take the heat, get out of the kitchen. This is insane. So had you listened to us even two or three weeks ago and said, you know what, I like some of that. I'm nervous, it's new to me. Let's work on that education, get me up to speed.
The good news there's still time. So if you're nervous. And you know what? I wish this show was live. I wish that, you know, we'd have one more day, because two. One of two things could happen here for tomorrow. One, this could get worse. And, you know, we could be having a downturn that grows a little bit of legs or we have bounce right back. You know, Anthony, the experience you've had seven years in the office now, you know, don't worry if the market takes a dump today. Don't worry. Tomorrow's gonna be good.
[00:16:57] Speaker C: Let's talk about yesterday. The market, right? So year to date, the market's not been doing well, Right. Coming down a bit yesterday, knowing the tariffs were coming, what happened? The market went up as if it was going to be a surprise that they were announcing it. So now it's hitting. Or they gambling on, oh, maybe he's going to change his mind so high right now. All of a sudden, in 24 hours, it changes when he said it was going to happen. I hate people telling me that the market takes all these things into account and they already know it's already priced in because everybody's such a genius. They're not. They have no idea. They'll do anything they can to keep it going up. None of this is a surprise. And will it matter? Jared just mentioned it. Let's see what happens tomorrow. Well, tomorrow to us is in the past, but we'll see. It's probably going to come up and people are going to be like, oh, it's fine. The market, you know, where there was one drop, because the market, you know, fixed it in one day. Just like how inflation was transitory and tariffs are transitory. And, you know, everything is transitory. People are transitory. This and just. I'm so. I hate the stock market so much.
That's all I've got. I mean, I. I really have nothing. I don't know what to say because it makes no sense. None of it does. And I'm so tired of people telling me how smart they are because their stocks have gone up over the last 15 years. But these are the same people that lost their minds in 2008, and they have not learned a single thing, but they boom.
[00:18:34] Speaker D: They've been taught wrong. There's people who have no idea. They have to rely on financial advisors and financial advisors. I'm so sorry to do this to you, Sam, to you, Anthony, to myself. We are focus.
We're not timeshare salespeople or used car salespeople, but in general. And yes, of course there are exceptions, Anthony. Sam, you're an exception.
We are so slimy. We don't mean to be. You can be the most honest financial advisor on the planet, but if you work for a company, they have pressure and quotas. You're, you're not going to have a job long if you don't focus on sales. It's backwards. The reason I love being a fully independent fourth generation veteran family practice. We have no quotas, we have no pressures. We do not have to tell you, you have to be one of the next callers, you know, whatever number it is. 5 on one show, 10 on most of them. So. Oh, you all just happen to have 10 appointments sitting aside for all the people that are panicking right now over the tariffs, but you don't have 11 appointments. You're full of crap. And you know, sorry, stroke. Linda said don't have a stroke chair. She wants me around a little bit longer. Don't worry, Linda. My stroke's gonna be for weeks or months.
[00:19:46] Speaker C: I'm good to feel bad about ranting because I was like, Linda's so sweet. I don't want her listening to me be upset.
[00:19:53] Speaker D: She's used to me ranting and being upset, not you. So this is a nice update, but, you know, welcome to my, welcome to your future, Anthony. Get a glimpse into how I became how I am be in the job that you know that it's crooked. It took all the time. You know the Dow Jones Industrial Average, one of the main benchmarks we use, it's 30 companies and when they take one out and put one in, that makes it a rigged game. They took out Walgreens and put in Amazon last year and it didn't even make it to the news. I make fun of it. I call the Teflon Dow because nothing can bring it down. I make fun of advisors with their blue suit, white shirt, red tie, highly polished shoes, give a crap about your money, but they better make a sale. Their whole job is to get money from you to them and then keep it. And it's got to keep moving. And I've been sending you for three years. If you listen to the show, get ready, they're going to start coming out saying it's only a paper loss. Don't panic. How are you got your clients in a position where they can panic? What kind of job did you do that? All of a sudden they're calling you saying, what should we do? You know what you should have done? You, you should have been diversified. You should have understood really what risk tolerance is. And by the way, we've shared with you, you don't need a pie chart. You don't need fancy charts and 10 questions on the duration of your money. You know what you need to know? When money's going up, your risk tolerance is higher. When it's going down, your risk tolerance goes down. That's what I've learned over almost three decades in the financial services industry. So. And I'm sorry to slam the industry. I just look around me and I see what's going on. You know, why are we the only advisors I know that are talking to people about their umbrella policy and all the different things we do? Because we honestly want them to succeed. We don't even care if they come with us. We just had a woman call in this week, said she's moving out of state, she wants to change her address. It's a woman that sat down with us and she wound up going with another firm up the road in Sun City. But I guess she forgot who she went with. So. Anthony, I mean, you can't make this stuff up. So Macy was like, I can't find your account. She's like, oh, yeah, yeah, this. And it turns out she went with a different advisor. Joe, you don't know where your money is. I'm not trying to make fun of her. Maybe she's a listener. I doubt it. But I don't know. You have to know where your money is. That's one thing I started this little rant was saying, it's your money.
You have some responsibility.
So anyway, if you're panicking, and, boy, you want me to give you more to panic about, you know, the commercial real estate market hasn't been fixed. You. You do realize, right, the banks have no money. The fdic that gives you warm and fuzzies, if you have under a quarter million dollars, they have 1.2% on your money. So you better familiarize yourself with the term bail in you. You may want to familiarize yourself with the plunge team because. Cause maybe we're gonna get to see that bad boy come around. How come your advisor hasn't told you there's something called a plunge team? You're supposed to believe in the legitimacy of the financial markets, but you don't know that if the market goes up 2,000 points today, they're not gonna stop it. But we're right on the verge of them shutting it down right now, today, as we record this on Thursday. What is it, 3rd of April? It's almost at the window. Where they're gonna stop trading now.
[00:23:05] Speaker C: We got a bit to go still. Well, I guess the NASDAQ's down 5%. Was it 7% when the plunge team comes in?
[00:23:12] Speaker D: I don't know. I don't know.
[00:23:13] Speaker C: I remember that. Yeah, it is funny because, you know, we. We use that example all the time, is we'll stop in our free market. Our free market. We'll stop the market from going down, but we'll let it go up to infinity. Unless.
Unless it's dumb money. Unless it's, you know, regular mom and pop investors in Gamestop. That's still my favorite example. I love that. I love that we talk on, you know. No, no, we. Market can't just keep going up forever. Unless it hurts, you know, institutional investors. Then they can stop it. Then there's a plunge Team for the upsides. What a joke.
[00:23:49] Speaker D: It's a rigged game, kids. I had to tell you. And the solution, since there's no other game in town, is make sure you know other options outside of that little narrow game we just told you about. The blackjack game. If you had a choice between two blackjack games. If you didn't hear this episode a couple of weeks ago, let me. Let me refresh on it because it's really important and you still have time to learn about it. You go to Las Vegas. There's only two blackjack tables. You have a choice which one you want to sit at one of them. Every hand you play, if you win, you get a. You. You get 100% of what you win. If you lose, you lose 100% of what you bet. That's regular blackjack. That's Las Vegas. That's why they have beautiful carpet and buildings and no clocks. But there's another table right next to it. This one. If you win, you only get 60% of what you won. Well, why would you sit there? What do you mean, I won? How come I only get 60%? What waits will Phil Swift. There's more. If you lose, you don't lose anything.
Can you imagine? There would be nobody sitting at the regular blackjack table ever again? They would all be sitting at the fixed annuity table. If you're listening to me and you've heard the word annuity, and Susie Orman and Dave Ramsey and Jim Cramer, all these super geniuses told you that annuities are bad.
You have no idea what you've missed out on.
Annuities can be good, and they can be bad. Let us educate you on the good ones versus the bad ones. So the blackjack table that you can get 60% of your money if you win and you'll never lose a dime. Trust me, that's going to be the busier table. So let us educate you on how that works. And then if you still hate newities, I have great news for you. We also can do securities for you. Anthony is licensed, he's fiduciary, he's smart, he's good looking, he has shorts on YouTube. The whole package is beautiful there. So we can help you.
With that said, I have so much to get to. I do want to say one more thing about the tariffs. I don't know, everybody and their mothers are going to be talking about tariffs, so I guess we don't have to beat the horse too bad. One more thing. You do realize, right, that all Trump is doing is trying to make the world fair for this country. They're reciprocal tariffs. If you haven't heard that term, you might want to look it up. Reciprocal. He's putting tariffs that are less than other countries are charging us on our goods and services. Japan, they're not buying cars from the United States because the tariffs are too high. So they're, they're doing their own cars.
[00:26:23] Speaker C: Equal or less than half? It's equal or less than half. How is that fair? And how is it in the news that we're such bad guys? It's equal or less than half.
[00:26:34] Speaker D: Oh, somebody wake up. I love Anthony being passionate. But with that said, please, please reach out to us, give us show ideas, sit down for a second opinion. Let us educate you on blackjack tables, whatever you need. Sign up for the big raceway coming up. There's two of them. We are at 623-523-0444 or you can email at Team I drew a blank. Teamnothermoneyshow.com and please do help us with that YouTube channel. We really need some help here. All right, we'll be right back. Thanks so much for being with us.
[00:27:13] Speaker B: This is another money show, except this one's different. This one will actually keep you awake.
At Rochford and Associates, we know you've worked hard to earn your money and you've worked even harder to save it. When it comes to wealth management and Planning for retirement, J.R. rochford and his team of specialists have been helping individuals, families and business owners find financial freedom at their veteran owned firm for more than 25 years. Give us a call now at 623-523-0444. That's 623-523044. 4.
[00:27:59] Speaker A: Remember, all of JR and Anthony's listeners receive a free financial consultation just for listening to the show. Visit anothermoneyshow.com to learn more and schedule an appointment. Thanks for listening to Another Money show and subscribing wherever you listen to podcasts.
[00:28:14] Speaker D: Welcome back to Another Money Show. Thank you so much for being with us.
As you can see, we tend to be passionate. This is not an hour long infomercial. If you like our passion and you want a second opinion, we want to meet every single one of our listeners. We'd rather do it one at a time. We don't want to meet you all next Wednesday in the same day because that's too much. So. But give us a call, 623-523-0444 or email
[email protected] as you know, we did renew for six more months. So if you're not enjoying our show, stop listening. What was that thing about Howard Stern? They're like, you know, people that hated him was the second biggest demographic listening because they want to hear what he's going to say next and hate him worse or something. So if you don't care for us, we still want to see it. We still want to sit and help you with your finances. Anthony, your old stomping ground, Utah. I know you lived in Utah for a little while. They are putting a law in place right now where they, the citizens can use gold and silver as regular money, regular currency. So I need to dig into that and see how that's going to work. I mean, I was under the impersonation, you can use gold and silver now, but if you bring a $1 gold coin, you know, Walmart is not set up to give you change for $3,000. So I'm not sure how this is going to work over there, but I'm curious because I'm really. The whole thing with the tariffs, I think the only way this country is going to make it is via what we're seeing right now. Everybody says they hate politicians because politicians are full of crap. They say, I'm going to do this, this and this, and then they don't do any of that. We finally have one that says, I'm going to do this, this and this, and then he does this and this, and then you hate him worse. But I can tell you something. When it comes to politicians, we say we want transparency. We say that we want accountability. You're getting it. So enjoy. I think the only way that we have a future as a country financially is to do three things and we're, we're getting two of the three of them right now. One, tariffs. Tariffs. The end. And yes, it might be very painful in the next days, weeks and months. I'm not saying it's not going to be. And you know who's going to get hit the hardest? The people that struggle to begin with. If you don't have a lot of money, you're in deep trouble right now. You're going to need to stop going out to eat so much. You might need to cut some of your, you know, cable, Hulu, whatever, Peacock, whatever the hell you're paying. May you, it may be painful. The middle class has shrunk. We've, I've been saying for years there's nothing left in this country but the haves and the have nots and the haves are going to be okay. The have nots are not.
[00:30:57] Speaker C: The, the rich say everything was fine before the tariffs too. I mean how naive is that? That's absolutely insane. All the people that are complaining that, oh and don't get me wrong, it's not going to be good. But I'm, I, I use this same argument right. So the left is saying tariffs. We can't, we can't have tariffs because the corporations aren't going to eat these costs. It's going to go down to the people and the people are going to get screwed over. Well didn't the right say that about raising minimum wage? So we can't raise minimum wage because the costs are going to go up. It's not going to be the shops that are. It's the same argument. It's the exact same situation.
[00:31:37] Speaker D: Tom.
[00:31:38] Speaker C: It's always going to be the lower class that's going to get screwed. It's always going to get be the consumers and it doesn't matter. We've had all time highs, record breaking stock markets, record breaking profits over the last few years. And you know what? These massive companies are still laying people off. It does not matter. The whole system is built to screw those that support it.
[00:32:01] Speaker D: Yes.
[00:32:02] Speaker C: And build it up because you, how many yachts can you buy? How many McDonald's burgers? You know, it's nice that all these billionaires have all this money but this trickle down economy doesn't work like you need the lower and middle class to have money to support this system. And all of this hurts it.
[00:32:19] Speaker D: Well, and, but my point when I first started out was going to be we need three things to happen here and they may be extremely painful and it may Change the landscape for weeks, years, months, I don't know. But we need to cut spending. We haven't gotten to that yet. You know, look, look at the old US debt clock.org I mean we haven't gotten there to stop spending yet, but we need to cut spending somehow. We have to stop spending more than we make. That's households and that's also the government. We need to stop the waste, fraud, abuse. How in the hell are you more mad at Elon Musk for uncovering all the fraud in Social Security system? You know they were. It's gonna end either way. Whether the mean nasty Republicans cut your Social Security, whether it runs out of money and it cuts itself, whether if they stop sending Social Security checks to 150-year-old people anyway. This was going to happen. It was inevitable. You're just getting to see the history in your face right now.
[00:33:15] Speaker C: Not reactions. It's the people who do it.
[00:33:17] Speaker D: You hate Trump, get rid of them.
[00:33:20] Speaker C: But it goes both sides. People hated Biden so they didn't give him credit for anything. If there was anything.
[00:33:25] Speaker D: Oh come on. Auto pen, Biden, Come on. The last four years, auto pen.
[00:33:29] Speaker C: Yeah, but they said all the presidents do it. They said Trump has been auto pen son. Arguments too is stupid. Well, we fight over the dumbest things without concentrating on what we actually need to get accomplished.
[00:33:40] Speaker D: Okay, so the auto pen thing there's a little different when you look at the context between somebody who really the entire four years couldn't walk up a flight of stairs, couldn't ride a bike, couldn't do anything. The auto pen thing is an issue when you take under context somebody who's aware of their surroundings, somebody who's not. But let's save that for later. My point was we need to do three things and they're happening right now. One at a time. Hopefully we end up with cutting spending. We need to stop the waste, fraud and abuse. There's no reason that some of the stuff that's being uncovered right now should have been going on for as long as it was. So good. Rip the band aid off. You know what else we need? Tariffs. We need the world to be fair to us for a change. We, we. When I was growing up, we were the world's police. We were helping like 150 something out of 190 countries financially. Well, guess what? Now who's gonna help us? We have 36 trillion in debt. It's time that we stop being the world's police. It's time that we stop being the world's piggy bank. And somebody had to finally do it before we go the way of Rome. And Anthony, I don't care if you think, ooh, well, you know, we've had a civil war. We, we've had a Great depression.
You're at the end of a civilization and you don't know it yet. Well, let's either break the toaster or let's either throw it away or fix it.
[00:34:59] Speaker C: Let's figure it out.
[00:35:01] Speaker D: Let's throw it in the tub and see who gets shocked. So I don't know. I mean, I think what's going on right now, a, it's kind of interesting. And by the way, Facebook, Sam, I know you're not on Facebook. You need to be. Facebook is the best social barometer on the planet. It's a dumpster fire, it's a train wreck. Call it whatever you want. But it's just, it's amazing to see the, when you get to know the different people that you're connected with. It's amazing, you know, during times of geopolitical strife how everybody becomes, you know, an advisor for global positioning. Right now, today I'm watching, people are going to start coming out, being financial advisors. People are going to start talking about how this is all Trump's fault, are going to talk about. It's amazing. Stay in your lane. But anyway, so can I touch base.
[00:35:46] Speaker C: On something real quick that we were talking about the plunge team? Okay, good. So I'm going to interrupt and talk about the plunge team because I got the numbers, the s and P500 that they follow and it's at 7%. They stock stop the market, then they'll release it again and then it's 13% when they'll stop it again. And then 20% is, I think, when they just close for good.
[00:36:10] Speaker E: Does it stop for the whole day or a certain amount of time?
[00:36:13] Speaker C: It's saying here a market decline that triggers a level one or two circuit breaker before 3:25pm will halt market wide trading for 15 minutes, while a similar market decline at or at least 3:25pm Will not halt market wide trading. But I do remember somewhere where they'll just stop it for the day completely. So it doesn't say level three. I'm assuming after the third trigger, then they stop.7 and 13% on the S and P is when the plunge team will step in. And that's from investor.gov and when I.
[00:36:46] Speaker D: Looked last, which was a little bit ago, the Dow was down roughly 3%. The S&P was down roughly 4%. And the NASDAQ was roughly down 5%. And this was in the first, you know, part of the trading day. So who knows? We will see.
[00:36:58] Speaker C: Yeah, we're at a little bit over three for the Dow right now, a little bit over four for the S&P and a bit over five for the NASDAQ.
[00:37:07] Speaker D: But of course, that's almost what I said. That's pretty close to what I was saying.
So we're good. So, and, and I just. The Plunge team, maybe today's not the day, but I can tell you what I mean, I, I've seen it happen. So I know it can happen, you know.
[00:37:19] Speaker C: Yeah, it happened quite a bit. And do you remember in it was the quarter four of 2020 or 2018 when they started to hike up rates. And then we saw it again during COVID But of course, you know, Covid doesn't matter because the stock market's doubled since then because, you know, obviously the economy's in great shape.
[00:37:38] Speaker D: Well, and one of the Plunge team exercises was when a keyboard error took place. Look up the little known story of fat fingers. The name of the situation was fat fingers actually caused the plunge team to come out. Somebody put an extra zero on a trade or some ridiculousness. So let's get to a couple articles again. I mean, I don't know how much we should dig into the tariffs. It's a wait and see game. I think it's a very long game. You know, the midterms aren't for almost two years. The end of the Trump presidency is not for another three years and what, 10 months. So maybe we will bring back manufacturing and we're going to get away with this. Maybe we're just going to crush the middle class and it's game over. I don't know. I don't have a crystal ball, you know, and if I did, I'd be at the lottery office again this morning. I wouldn't be here on the radio with you two.
[00:38:26] Speaker C: And then I would be the 1%. And then I wouldn't care about the middle class at all. I would be high elite and I would immediately forget everything I've said in the past. I wouldn't care about anybody else ever again.
[00:38:37] Speaker D: And I would buy a Corvette and get the windows tinted, but I would not get fuzzy dice. So why don't we do this? Let's get to a couple articles and at least start amusing myself, if that's okay. Now let's start with a couple serious articles. As long as we're on the government so here's one from Zero Hedge just yesterday on the 2nd of April. The name of the article is Big Balls to the Rescue. Doge saves a terabyte of data destroyed by exiting USIP employees. So what I found fascinating about this article, I pride myself on really knowing what's going on around the financial area of the government. So here's. Let me read just a little bit of it and then I'll tell you why I find this interesting. Let's see here. I've never heard anything good about the United States Institute for Peace. It's been in bed with neocons, coopmeisters. I guess that's coupmeisters. The P is silent Ku Meisters and the Soros Color Revolution crowd for years. This quasi government agency that runs like a private NGO is always sneaky and non transparent. Yeah, yeah, Anthony, that was going on during the Biden administration. Nobody brought up this to, to me. So you know what, let's uncover all this stuff anyway.
[00:39:58] Speaker C: Going on during every administration.
[00:39:59] Speaker D: Yeah. 50 years. Yes. And I've never said no to that. But you know, all these people that, you know, either Biden was bad or Trump's bad. Shut the hell up. You know the government's been corrupt for 50 years. So moving on. It didn't surprise me a bit to learn that USIP showed unusual resistance to anyone poking into their spending from Doge. Did you hear how the staff at USIP acted when Doge showed up? They literally barricaded themselves in their offices, cut the phone lines and power to the elevators, sabotaged office equipment, and the head of the USIP had to be arrested and removed. So this is our tax dollars at work. This is our government. This is the kind of stuff that's been going on and you all want to firebomb Teslas and ski the cars. Okay, so let me tell you what I find so interesting about this article. I've never heard of the United States Institute of Peace. I didn't know that existed. We have an. We are the most nation building country on the planet. We are warmongering, bomb dropping, money spending in other country.
And we have a. We have a organization that's boosting peace. Give me a break.
[00:41:16] Speaker C: Strength.
[00:41:17] Speaker D: Yeah. Isn't that Reagan? This is peace through baloney. So let me read a couple of things more. The Department of Government Efficiency. The old DOGE had found the UCIP contracts going to Afghanistan's former Chief of protocol, who had been member of the Taliban, and to the Iraqi League for Youth. So how come this. Yeah.
[00:41:39] Speaker C: Running the US Military. We Left over there is expensive, so we should probably send them money so they can use all that equipment.
[00:41:46] Speaker D: Well, and they need spark plugs and so forth. So continuing. They were bribing the Afghan Taliban warlords to keep the drugs flowing. Oh, my gosh. No way. That's what the US Institute for Peace payments were for. The agency called USIP has had a structure that should never have been allowed in a democracy. They were allowed to operate as a private corporation, nonprofit, and a federal agency at the same time. They didn't have to follow any rules. Let's see here. Fraud, waste and abuse will start dropping a lot of people in jail. I guess we can only hope that's true.
Let's see, what were they high? That's enough of that article.
It shows me that Elon's on the right track, Trump's on the right track. I'm sorry. I mean, the country's 36 trillion in debt. I have kids. I want them to have a future. Let's do rip the band aid off. Release the JFK files. Release the P. Diddy guest list. Release the Epstein. Stop redacting things. Let's put people in jail. You know, Elon's talking about going to research how some of these public officials, you know, like Chuck Schumer, are so well off when they're public servants. So do it now. Everybody hates what's going on, you know, on one side of the aisle now anyway, so you might as well give them a lot to talk about and see if we come out of it clean on the other end. Another little speaking of the government and the shenanigans, this one is from the daily HODL. On the 17th of of March, US government deploys magic money computers to send payments out of thin air.
[00:43:34] Speaker C: We talked about those ones before.
[00:43:36] Speaker D: I don't believe we have. This is an article that I have not covered on the show anyway, so I'll just read a hair of it and we'll move on from this. The US Government relies on a network of computers to generate payments out of thin air, including some transactions that remain entirely undocumented, according to Elon Musk. In a new interview on Senator Ted Cruz's Verdict podcast, Musk says the Department of Government Efficiency has now discovered about 14 magic money computers. Musk tells Cruz that these computers are responsible, responsible for sending trillions of dollars in payments. I call it a magic money computer. Any computer that can make money out of thin air, it just issues payments and they just send money. Musk says about 5 to 10% of the payments executed by these computers are not reported. Transparency. We want transparency. You know, we've all asked for transparency for years and then we finally get it and you're all angry as all get out. So sit down now. Enough of you. Let's see here. You may think that the government computers all talk to each other. They synchronize, they add up what funds are going somewhere and it's coherent. And that the numbers that you're presented with are actually real numbers. One would think. Well, they're not. So Musk says Doge has discovered these computers at the Treasury Department. Oh joy. State Department, Health and Human Services Department and the Defense Department. That's good. So that's good. Let's get to something I find a little bit funnier.
Here's an article for you from the RVM News on the 26th of March. That's RVM News. Bernie Sanders. You know, he's one of my favorite Janet Yellen's gone. So I'm going to adopt Bernie Sanders as my number one go to so Bernie Sanders under fire. Anthony, get ready to defend him. I know he's just a good person under fire after payments to stepson come to light. So remember the word hypocrisy when I read just a hair of this. Senator Bernie Sanders, independent out of Vermont, is facing renewed scrutiny after financial records revealed that his stepson David Driscoll has received an estimated 800,000 since 2018 through the Sanders Institute, a nonprofit organization founded by Sanders wife Jane O'Meara Sanders Driscoll, who serves on what's important. The organization, registered as a 501, brings in between 200,000 and 300,000 annually through contributions and grants, raising questions about how it funds its staff and operations. The Sanders Institute was co founded by James Sanders and Driscoll in 2017.
It describes its mission as promoting progressive voices and revitalizing democratic engagement. The purpose is to revitalize democracy in the support of progressive institutions, jane Sanders told the Washington Post. A couple more things here. Despite its stated goals, the nonprofits 2021 tax filings show that nearly 40% of its revenue went towards salaries. While it didn't list any specific accomplishment or projects. I thought you're supposed to if you're a nonprofit. The organization's small revenue base and sizable compensation for staff, particularly Driscoll, have attracted attention from watchdog groups and critics. Adding to the scrutiny, records from the federal election and wait to hear this. One commission show that in 2023 the Bernie Sanders Campaign Committee transferred $200,000 to the Sanders Institute. The payment was not publicly announced and drew criticism for its timing as Sanders continued his public criticism of corporate and political influence in government. I'm going to read the very last line because the rest of this talks about how he was charging tickets for his book shows at $95 a person, blah, blah, blah. So the very last line.
The Sanders Institute has not responded to requests for comment. Neither Senator Sanders nor Driscoll has addressed the financial disclosures publicly. I wonder why. I'm sure this is all on the up and up. And Bernie really does like the. The equality that he. He professes. I'm sure. Bernie with his multiple homes and his supercars. Get ready, Anthony. Defend him, because I'm all ears when I find something about the man. What? Oh, shoot. That deflates my whole. I wanted you to defend him.
[00:48:28] Speaker C: I know it sounds sketchy, just like any story about any politician. There could be some more to the story that's not nearly as bad, but it definitely doesn't sound good. But I mean, that sounds about right, that, you know, if you've got this foundation and it's set up by family and you've got all this money coming in, you're definitely going to take a piece for yourself, and that is very hypocritical.
[00:48:49] Speaker D: No, you wouldn't. I wouldn't. If we did it.
[00:48:52] Speaker C: If we did it 100%.
[00:48:54] Speaker D: All right, call J. Aaron Addict.
[00:48:56] Speaker C: Just to start doing it, I need to be a politician.
[00:48:59] Speaker D: If you want a second opinion on your finances, just call me. I won't talk about the world around us. I'll just talk about your finances. So let's be nonpartisan for a moment. I love the article you sent me. This is from Fortune. I love that. Is it Soldier of fortune or just regular Fortune? Most Americans.
Most Americans own one life insurance policy.
Why do I think it should be. Does incoming SEC chair Paul Atkins and his wife own 54? So here comes the new SEC. That's the securities and Exchange Commission. He has 54 policies. I'm going to skim part of this article, Anthony, and I'll let you break it down if you have anything in particular. So let's see here. Meanwhile, the 54 life insurance policies represent almost 10% of Atkins net worth, which Bloomberg estimates at $327 million. So we have a new SEC person who's going to be in charge of keeping Anthony and I and other financial professionals on the up and up worth 327 estimated million. And he owns 54 life policies.
So got a quick question for you. What other vehicle, financial vehicle you two are advisors is out there that you can overfund? Where can you put money and overfund something? When the death benefit of these things happen? The money comes out tax free. You can be your own bank. That strategy has been rearing its ugly head again. Although we haven't seen many people execute it successfully. So this is genius. Well, then I get to the end of the article and it gets way more interesting. So have you ever heard the word viaticals, Anthony? Sam, have you heard that word? It was something we were prohibited from selling when I was getting my license in the late 90s. So let's see here. Policy sellers can choose to sell to a third party that offers more than the original issue. In these cases, the third party would continue to pay the policy's premiums if the original seller were to die, receive the windfall. Those who buy another's life insurance policy are betting on a person's life. Well, that sounds pretty. That's a little bit morbid. Smart. Smart as all get out. I mean, how do you get to 327 million? You're not a slouch or a tremendous slouch. So let's see here. Will that person die soon enough to make the short term pain of monthly or annual fees worth it? Carson is convinced this is why Atkins has 54 life insurance policy. This guy clearly likes to have a big pool of varied investments. And I think these are investments. He pointed to the variety of insurers on Atkins disclosure document as well as the variation in value of the life policies. Some are worth north of $1,000,000 and some between 1 and 15,000. Atkins is currently in front of the Senate in a confirmation hearing on Thursday. Hey, kids. That's today. He plans to divest or already divested a large portion of his holdings, but not his life insurance policies according to an ethics agreement. So, Mr. Atkins, you're a government official, you're a representative.
Are you really able to feel what your average constituent feels is. Or is this another example of kind of, I don't know, not normal financial planning? And if it's legal, have at it. You know, I'm glad there's going to be some full disclosure today. If it's legal, good on you.
[00:52:44] Speaker C: I just, you know, the article says, and it makes a really good point is you eventually run out of things to spend money on. So we've talked about be your own bank on the show again. We've never yet really seen it be successful. These people can make it successful, but they've it's because they've done everything else. You know, this is a massive number they're talking about and they're saying it's 10% of his portfolio and it's hundreds of millions. So I don't know. But another, I mean, an example of not, you know, using it necessarily as investment, but generational wealth transfer. I mean, that's what life insurance is for. It's, it's meant to be generational wealth transfer.
[00:53:25] Speaker D: But Most people have one policy, maybe even two or three. Most don't have 54. And if you're not getting it from another Money show, where are you going to know to look into these things that let you know that there's all kinds of stuff going on around you that you're not aware of? So glad we happened by. I have tons of articles still for today, but we're out of time so I'm going to save them for next week, you know, because some of these, they don't need a date stamp on them. So.
[00:53:48] Speaker C: Anthony Market will be up 50% by then because the mark the stock market accounts for tariffs and crystal balls in the future because they're. So that's it for today's show. If you like what you heard, you have questions on any of the topics today. You want to sit down with us to review your personal financial situation, reach out to us team@Another Money Show.com find us on the web. Another Money Show.com you can book appointments with us from there. You can reach out to us from there. There's a little text box. Remember, if you do want to sit with us, there's no minimums, no cost for appointments, nothing to lose by getting a second opinion on your financial situation. And also if you have a car that you want to bring out onto a racetrack and track it before they shut it down, reach out to us April. The event is April 14th. I got like five or six spots left. That's my favorite part of this show.
[00:54:42] Speaker D: And what if they want to meet Joe Jaquin? Is there a way to do that too?
[00:54:46] Speaker C: Happy hour next Tuesday, Throne Brewery, 67th and Bell.
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