Protecting Your Money in an Unstable World

[00:00:00] Speaker A: Any examples used are for illustrative purposes. [00:00:02] Speaker B: 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. [00:00:11] Speaker A: Performance of any specific investment and is. [00:00:13] Speaker B: Not a solicitation or recommendation of any investment strategy. [00:00:18] Speaker C: 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 Correjo and J.R. rochford. [00:00:42] Speaker D: Here we are, your hosts, Anthony Correjo and JR Rochford, taking a break from our day to day as financial advisors with Rochford and Associates, a fully independent fourth generation family office right here in Sun City, Arizona. We're aware that the last thing you need is another money show, but we appreciate you being here. And I missed a whole other sentence to that intro, but that's what I get for being off for a week. Who else was off for a week last week? Maybe Junior. I think Junior was off. [00:01:09] Speaker A: We're never off at the same time, so nice try. You've been off lately a lot and my understanding. [00:01:16] Speaker D: And I may never come back. We'll see. I've converted all my currency to wampum and euros. [00:01:21] Speaker A: Excellent. I'm not sure what wampums are, but good for you. Sorry. Yeah. So let's start out with a couple shout outs. I want to. I want to. Biggest shout out is to Anthony himself. I asked if I could take this week off and not do any articles, not do any outline show prep, nothing. And Anthony graciously said yes. So I guess where I'm going with that is if the show is good, I still had something to do with it. I mean I sent over my thoughts and prayers for Anthony, but if the show sucks, I mean today's. This is Anthony's week. So enjoy. We are recording on Wednesday 3rd September. We bumped it up a day this week. One, one quick shout out. We actually this morning in the office we met with a couple radio listeners. Actually they'll know who they are. A mother and daughter came in. So we just want to say thank you. You know, obviously two totally different financial planning roads they're on. But I think we can bring some value to both of them and I just, I'm saying it every week now. We love meeting you. If you're listening to us, please give us a call. Come in, sit down with us. Let us be a second opinion. Let's brainstorm with you. So, like this, mother and daughter, we had a wonderful time. So we're looking forward to being there for them in any way we can. And we want more of you to come in. All right, Anthony, it's your week. I'm not going to say another word until we're done. [00:02:39] Speaker D: Yeah, that was great. And the last few appointments, I feel like quite a few over the last few weeks have been about generational wealth transfer and really, people that care about, you know, inheritance times are getting tougher, and it's going to be really tough for the younger generations going up, especially when it comes to home purchasing. That's something that we can definitely help with. So, anyways, like JR Said, I was led to or made to lead this parade today, and of course, I did not prepare the way he did, because I have a job to pretend to do in the office. But I got some things I want to talk to you about. [00:03:15] Speaker A: Wait, now I am gonna talk. I work. [00:03:19] Speaker D: Actually, you know what I want to start off? I want to start off with an article you sent me. Did you actually read that TransUnion one? [00:03:26] Speaker A: I probably sent it to you before my little hiatus. So, TransUnion or wasn't the thing wasn't. TransUnion hacked the people that. The trans. The people that messed my FICO score up because I paid off my home and my score dropped by over 100 points. And when I reached out to them, they said it's because, you know, we. If you don't have that kind of revol, you know, payments, if you don't have a mortgage, how do we know if you're going to make your payments on time? Like, do you realize what you're saying? I, for the first time in my life, am completely debt free, including my home, and you're saying my FICO score should suck because I don't make payments? Are you kid. I'm sorry. Go ahead. Yeah. [00:04:03] Speaker D: This world isn't made for the Dave Ramsey types to be debt free. You're supposed to feed the system, take free money and dump it into the stock market, dump it into debt, dump into assets, but keep borrowing, keep feeding that machine, and you've decided to not be a part of that machine, and we don't want you anymore. [00:04:22] Speaker A: You know what I learned, though? Here's. Here's the problem with that. I mean, believe me, I feel really good because as a person who's been in the financial service industry for my career, and I tell people about Dave Ramsey and I tell people Dave Ramsey's on the right track. You know, so I finally get myself debt free and I'm being punished for it. You know what the problem is? If you go to change insurance companies, if you go to change cell phone companies, do you realize they're pulling your FICO score? Do you realize Verizon T Mobile, these people ask for your Social Security number to get a new phone plan. So everything we do is based on that stupid darn FICO score. So if you're Dave Ramsey and you own Financial Peace University, and I know his background, I know he filed bankruptcy, but if you're a multimillionaire, you don't need a credit score. You. You know who does? JR and Sandy. You know what? I'll tell you, unless you're really, really wealthy, it is not true that you don't have to worry about your FICO score. So just. Just so you know, when you pay off your hours. [00:05:21] Speaker D: It'S dumb, but anyway, so what have we been talking about? We're talking about TransUnion. So if you look up TransUnion, right, TransUnion.com literally, the first thing it says on your Google search is free credit score report monitoring and alerts. The people responsible for making sure you don't get hacked just lost all of your information. It says 4.5 million are estimated to have lost their information from the people that are in charge of protecting it. And that is absolutely hilarious. We represent a very large insurer called Allianz, and a lot of our clients lately have received letters. [00:06:02] Speaker A: Same thing, Clear Spring. They all have Guggenheim, when that was a thing. They all have. I've gotten a letter from pretty much every company I've ever been signed up with. [00:06:09] Speaker D: So alliance gets a letter, sends it out, says, you know, we had a breach as well, and we've had people reach out to us, ask if they should be concerned. And my answer was. And I don't know if I'm taking it too lightly, but I probably have three or four of those letters a year. Like, I just. Your information is already out there. So I do think it's funny, though, because I remember Junior got one from. Was it like the State of Ohio 1? [00:06:36] Speaker A: Oh, my gosh. Where I hang my license at different states. I've gotten them from the states themselves. I've gotten it from Marriott hotels. I've gotten it from the Veterans Administration. I've gotten these letters all over the place. And you know what, Anthony? My thought is, should you be worried about this? Yes. Every single person should be worried about identity theft and hacking. But you know what? There's only so much you can do about it with the Allianz breach. It's a wonderful company. They're the largest insurer on the planet, as far as I know. Still, I mean, they're a great company. It was one of the cloud partners that got breached. It wasn't even Allianz, but unfortunately it happens all over the place. So they give you, what is it, two years of free monitoring at Kroll, I believe it is. Take it. Spend the energy to go ahead and sign them up for that. Unless you have your own. If you have, you know, Lifelock or Xander or one of these. [00:07:23] Speaker D: Well, that's until Kroll gets hacked and has to send you a. Let there just say go somewhere else. Kroll's going to get a letter and get breached and they're going to tell you to go to TransUnion. [00:07:32] Speaker A: But as funny as you you saying that not only could that absolutely happen, first of all, the second thing is, if Kroll gets hacked, what are they going to do? Extend your two year crow coverage? You know what TransUnion said, and I'm paraphrasing because I glanced at that article and no, I didn't read it. They said, well, we're going to give you monitoring. So the people that monitored me that just got my social and date of birth and address, all that hacked, are going to continue to monitor me. Apparently, you're not good at it. Transunion and Equifax, Experian, I'm talking to you too. I'm sure you're good at that. [00:08:01] Speaker D: All the letters we've gotten too, when you read through them, there's like, here's what you can do to protect your info. I didn't lose my information. You lost my information. What can you do better? Don't put this back on me. Listen, I just hit your parked car. But let me tell you what you can do differently. Maybe park somewhere else. When I'm trying to drive through this parking lot. [00:08:24] Speaker A: That's the best thing I've ever heard. Anthony, next week is your show too, because this is good stuff. But no, you're right. And transunion, I mean, if. If you're listening to us and you're not familiar with them, you want to look up Equifax, Experian and TransUnion, they have every bit of data about you and every relative. There used to be a thing called skip tracing. I'm sure it still goes on. You know, people that, that had insiders at the credit bureaus could find out anything from the time you were born to now. So, yeah, this is sad. [00:08:55] Speaker D: Everything's on the dark web. It's one of those, right? I mean, it's not that it should be luck of the draw, but is it something you're going to worry about? [00:09:05] Speaker A: No, because you're either lucky or you're not. You're either going to get. Somebody's going to try to use your information. They're not. The biggest one, from my understanding, is like health. Health companies. There's medical ID theft. I don't know. It's overwhelming. Anything in particular from that article that we need to cover or. [00:09:23] Speaker D: Well, no, it's just. It's more just funny for anything and, you know, people should be aware. But should you worry? I don't know. But, I mean, it kind of leads into the next point because we've had someone that, you know of, a friend who's come to us a few times, has written articles on this, too. But do you remember our buddy who passed away and his wife got the letter that he passed away even though it was sitting right next to her? [00:09:49] Speaker A: Yep. He was in our. Yeah. [00:09:52] Speaker D: Yeah. So he wrote an article in the Independent newspaper to kind of share his experience. And he really downplayed it in the article, I think, because they only have so many, you know, you can only use so many space on this and opinion pieces. But someone punched a wrong number in a Social Security office or somewhere and pronounced our, our friend passed away. Well, did they resolve the issue? They did not resolve the issue. Now all of a sudden, it gets put on him to go back. And where does he have to go? He had to go everywhere. All of his bank accounts were locked up. All of his credit cards were frozen. He had to contact Social Security office who started this whole, you know, obscure issue themselves. He had to go back to prove to them that, hey, you guys screwed up and did they come through and help out. So I just. I think it's funny seeing the Trans America. It's like, well, it was our fault, but I guess we'll also fix it. Or pretend. [00:10:56] Speaker A: I bet he wished he was actually dead by the end of that process. [00:10:59] Speaker D: Oh, yeah, I'd imagine that's absolutely insane. But the key, the thing I was really thinking about that with is something Junior says all of the time. And I know a lot of people may well probably listen to this. [00:11:11] Speaker A: I say all the time, if. If they make a mistake and they say I'm dead, Sandy won't try to fix it. She'll be like, oh, cool. Yeah, yeah. Sorry. I don't know what I said. [00:11:21] Speaker D: What's that? Life insurance policy. We got time to cash out, move to Aruba, right? No, but what you say all the time, it's like, keep cash at home. And I get that cash is a dying currency. We talk about that all the time. You pay with everything in your credit card. But how do you pay your bills if all of a sudden you get locked out of all of your accounts, you're frozen, someone makes a mistake. I mean, if someone does actually hack your accounts, not just somebody at the Social Security office, you know, punching the wrong Social Security number on somebody's death certificate. You know, these things happen. So having hard assets, having cash at home, having the emergency funds, you know, it's. It's great. Having a 401k, it's great having Roth IRAs, it's great having home. It's great having all these assets and things. But anything that isn't necessarily just tangible, do you really have it? Especially if things get bad enough. [00:12:14] Speaker A: Amen. You're preaching to my little choir, right? [00:12:18] Speaker D: I don't know. I just. I think it's important because you think it can't happen to you, and then you have. You know, when we sit with so many people in the office, it's nice to hear all these stories and see what can happen out there, you know? Afraid of it? No, but it's something to know as a possibility and to. What can you do ahead of time to prepare yourself? [00:12:37] Speaker A: Well, and we see it all. We had one client. I. I don't know if you remember, but we had a client who. Her tax return was stolen two years in a row. It took half the year to get their first year fixed. And then it happened. I don't mean to laugh. I mean. And the aggravation, the violation, the peace of mind breach that this woman went through is insane. So, I don't know. And you know, everybody that we hear, identity theft is real, and it's a big problem. Unless it's happened to you, you probably don't really think about it that much. You probably don't care if you know somebody that's been through it. Even our buddy out in Sun City west, our. I don't want to say favorite client because he'll get a big head, but our favorite client out in Sun City west, he. He got. Hacked his bank and he had problems he had to get fixed. It's like it can happen to anybody at any time. [00:13:29] Speaker D: Oh, yeah. And these guys incredibly intelligent. But that's. I mean, scams, we talk about them every once in a while on this show, but I get scammy emails all the time, and I've almost fallen for a few of them. Some of them look legit. Use a sounding board, you know, use our office, use your kids. Like, if something doesn't seem right, don't be quick to, you know, panic and click that link or think the FBI wants Google play cards from you. [00:13:55] Speaker A: They don't Apple Play cards. And it can happen to anybody. Like, I'm living proof. I get things that I think are a scam. And I'm very wealthy. It can happen to people that are poor, poor, wealthy. I'm actually the heir to a Nigerian prince, and I almost got scammed. [00:14:10] Speaker D: You just have to pay the taxes on the fortune, but you prepay the taxes and then they'll send you the fortune. [00:14:16] Speaker A: Yes, I'm in the process of gathering the funds right now. Sam, Anthony, if you guys went in on this, on my upcoming windfall, I need a little help with the 20,000. [00:14:24] Speaker D: We're joking about that, but that's a real thing that has happened to people that we know. None of these, you know, there's no cash for cash kind of kickback. There's no, you pay the taxes and we're going to send you a large check. That's not how that works. That's not how you win the publishing Clearance House sweepstakes. It's not how you win the lottery. That's not how that works. So if we're ever thinking about that, if you ever got an email or maybe you get one next week, you'll be like, anthony and JR Told us that that's not a thing. [00:14:54] Speaker A: Run it by us. Let us see it. Let us tell you if you should report it to the FCC or who or the banks or whatever. You know, the. The part of all this stuff, I mean, we never know what's next, you know, I mean, you do the best you can, but you don't know what's next. I remember watching your grandfather on your mom's side, the publisher you brought up, Publishers Clearinghouse, he legitimately thought that the more skin in the game, the more likely he was to win. And by the time your mom and I found out about it, I don't remember how many magazine subscriptions he had, but it was like, holy cow. Like, why are you doing this? Why are you entering all this? And he legitimately thought he could win, and that's a harmless one. At least he got something for his Money. We had one client that has since passed away that literally lost his entire life savings. And it started because he got a phone call saying that he was in trouble and the FBI was going to get involved and he had to send them. Literally, he had to send Google play cards. And one thing led to another and he lost his life savings. And you and I, Anthony, we got involved with the attorney general, we called the police, we called an attorney that he knew. We called the companies he had money with. We really tried to help this guy and we were unable to. So I don't know. [00:16:07] Speaker D: I mean, and that was heartbreaking too, because that was over like a five year period too, because he got. No, that had been 10 years. That was way before I met him. Because the original scam happened then, like five years later or something like that was the smaller Google play scam. But then somehow they found out about the original, you know, Nigerian prince scam, let's say. And he got contacted by someone who claimed to be the CIA and his Social Security number was used in these drug transactions and drug trafficking from the scam, you know, five years previous. It's like, oh, well, now we're actually trying to help you. So they called him saying that they were claiming to help. And all of a sudden. And then I think it kind of got tied into, all right, we're going to get you your money back, but you have to pay the taxes or fees on in very, very, very obvious scam. But we couldn't protect it from himself. [00:17:01] Speaker A: We could not. And he was, for a while, he was angry with us because he's like, I'm an adult, it's my money. Let me do what I want to do. And we're like, okay, but you're being scammed. And if you're listening to us, I would tell you something. The IRS doesn't text. They don't call the CIA. If you've been in contact with the CIA, they don't call you the central Intelligence agent. You're actually not knowing who they are. I will tell you that. So they're not reaching out to you. I'm gonna segue into something. I'm not sure if this is a scam or not, but I want your feeling on this. I want both of your feeling. We have a ton of people, friends, clients. We have tons of people that over the years, and I've been hearing this for, I don't know, 25 years, that have put a lot of money into the dinar, the denali, the dong, the zim, these different currencies. And I almost tie it into the whole ID theft and scam thing for reason because I don't think that it's legitimate. And unfortunately we've got one case right now where a friend of mine, his wife's mom is. She's. She's not a wealthy person from my understanding, but she like to. And I don't, I don't know how to say this like it towards the end of her life that she is convinced that the game changer is the reset or the revaluation of this currency. We've got a friend up in Snowflake who is still working, so I'm not worried about her. But she is counting on this money, this revalue. But I've been hearing it for a quarter of a century and I just, I guess what I want to say, if you're listening to us and you've already bought it, then you already have it. So hang on to it, I guess. But if you haven't bought it and somebody approaches you to buy the dinar, for example, I believe that's the Iraqi one. The Vietnamese one is the dong. So if somebody wants to sell you a dong, say no, probably. But you know what? My, my main advice is. Unless you're at a sporting event and somebody offers to give you free, you know, free currency, my, my main advice for you is moderation and diversification. If you feel like you've got to put a bunch of money into a foreign currency, maybe even a cryptocurrency. And I won't go that route today because it's not my show. But probably if you have an extra $5,000, don't throw more than 500 towards it. Okay, kids? Maybe even 250. I mean, the sound advice, when you're working for a company, don't put all your eggs in one basket. Don't buy too much company stock, 10% at the most. Talking to you ex employees of Enron or MCI or you name the company. So I don't know. But this currency. Anthony. Sam, you've heard of this, right? [00:19:41] Speaker D: Oh yeah. And you've been telling me about that since I joined the office. And I just, I didn't think anything of it. I thought it went away. And then I remember you telling me about this appointment you had last month. And I was like, oh, I thought, you know, I thought that was history. I thought not necessarily a joke, but I thought it was just something that wasn't around. And then someone who is really believes that this is gonna be the Case. [00:20:04] Speaker A: And I had a direct Forex investing opportunities, which somebody tried to get me in on once years ago, and it almost had like, MLM vibes to it, and it just wasn't appealing to me. And I would just caution people, even if it was something legitimate, the chances of it working out and being a productive investment for you are pretty low. So I would proceed, proceed with caution and probably just stay away on that one. Yes. [00:20:34] Speaker D: Yeah, the Forex, I remember because that's all, all those options trading places, just in general, all those classes. It's the Forex, it's the, the commodities, just options trading in general. I see a lot of that, but it's been a while since I've heard anybody talk about moderation. [00:20:53] Speaker A: Moderation Forex. I mean, the people that trade overnight and the people that are into Forex, there is a lot of legitimacy to it. This dinar, these are outside of that normal Forex trading. I mean, foreign currency trading. You know, people that are very financially savvy and they watch foreign currencies and they watch interest rates and derivatives and things that are. That are overwhelming to most people. You can make some money and you can do big, but be careful. I mean, for most of us, pay down debt, have some hard assets, diversify. [00:21:23] Speaker D: Have extra income, and then you can afford to make all the mistakes you want. [00:21:28] Speaker A: Anthony. [00:21:28] Speaker D: That's why we have those commercials now. [00:21:30] Speaker A: Anthony. Income, income, income. Income is the key to a happy retirement. [00:21:36] Speaker D: Boats, boats, boats. [00:21:38] Speaker A: Marcia, Marcia, Marcia. So do all again. [00:21:41] Speaker D: It's the, the freedom to make mistakes. That's what having extra income is. It allows you to invest in these hard gambles. And if you're right, awesome. If you're wrong, you still got money coming in. That's why I'm such a big fan of it. [00:21:55] Speaker A: I agree. So what else is on your plate? I feel like I'm talking too much. This is your week. [00:22:00] Speaker D: We started talking about stories. This is actually one client in particular, which kind of leads me to the next point, because we talk about stuff in the appointments all the time that we don't necessarily share on the show. And it's honestly, it's stuff that's not even involved in our industry. But we think it's important as, as part of a full financial picture. But umbrella policies. I wanted to bring that up. I think it's been a while. [00:22:25] Speaker A: Yeah. [00:22:26] Speaker D: So good call, J.R. what is it? [00:22:28] Speaker A: An umbrella policy. [00:22:30] Speaker D: You love talking, and I'm taking that away from you, so let me airball this one for you. [00:22:34] Speaker A: I do love talking. It's hard for me. Sitting on my hands is hard for me. You know, if you've met us, you already know this, but Anthony is very. He's an engineer. It's details, it's numbers. He can do a great financial plan for you. He can back test your 401k and see how it fared in 2008 and how it's likely to fare again here soon. I'm storyteller, Big picture. So we do different things. Anyway, back to what Anthony asked. An umbrella policy is a personal liability umbrella policy. And anybody listening to us, if you're not sure what it is, I urge you to do this. Call your property and casualty representative, your insurance agent, and ask three things. What is an umbrella policy? Do I need an umbrella policy? And how much is an umbrella policy? Well, maybe four questions. Ask if you have one. We run into people all the time. We're like, do you have an umbrella? I have no idea. It's like, well, you should. I mean, if you're. If you're spending money on something, you should know what you have. But they don't. But anyway, all it is, picture wherever you are, you're carrying an umbrella. You're keeping the rain off of you if you get sued. I would say the biggest reason I will never live without an umbrella policy is. Is a car accident. If I get in a car accident and I hit you and it's just a fender bender, but all sudden you go home and your neighbor and your sister and everybody says, oh, doesn't your neck hurt? You know, you need to sue them. The world we live in, unfortunately, is it's easier to sue you than to work for the money. So an umbrella policy protects you from somebody suing you. And I can tell you something. If you need to find an attorney, how do you do it? Your referrals? Most people don't even know any attorneys. So you gotta go on the Internet. I used to say Yellow Pages. You gotta find one that looks reputable or at least advertises day and night. And then you gotta plunk down a $5,000 retainer. Well, you know what? If you have an umbrella policy and let's just use State Farm. Say you're with State Farm, you're using their attorneys. And believe me, State Farm has better attorneys than you can afford. So it's legal help for you if you ever get sued. And I'm in sued for anything. Defamation to character, slander. It doesn't matter what some kid climbs over a year, do they still do this? Like when I was a kid. Not that I would do it, but all my friends did. If some kid climbs over my eight foot block wall and goes swimming at night in my pool and they drown you, my gate was locked. I have an 8 foot block wall that's pretty much saying stay out. I have a no trespassing sign. If you drown, you were trespassing, you drawn. It doesn't matter. Their family's gonna sue you and they're probably gonna win. [00:25:07] Speaker D: So yeah, unfortunately. But we've seen that. We firsthand have seen this from a client. His wife passed away in an accident. It was her fault. Somebody in the other vehicle died. He was not involved at all. But they used that opportunity to try to wipe him out of all of his retirement planning and send him back to work. But luckily he was saved by that umbrella policy. So it's not something we do, not something we offer, but is something you should know about. You'll know about more things when we come back. We'll be back shortly. Right here on 960, the Patriots, all. [00:25:41] Speaker C: Of JR and Anthony's listeners receive a free consultation just for listening to the show, visit another money show.com New York. [00:25:51] Speaker A: New York is everything they say. [00:26:01] Speaker B: In the rush of everyday life, it's easy to focus on the here and now. Paying bills, running errands, squeezing in time with family. But for many retirees, the biggest question still lingers. Did I really plan enough for the years ahead? I'm Jim Tarabokia for the Retirement Radio Network powered by Amerilife. Financial planning isn't just for the wealthy. It's for anyone who wants to make smarter choices with their money. And it's never too late to start. Trying to envision the complexion of your financial future and overall retirement can be an overwhelming endeavor. Morningstar director of retirement planning Christine Benz tells CNBC she understands different financial and retirement approaches can be tricky, but reiterates that you don't and shouldn't go about this journey alone. [00:26:44] Speaker A: The gold standard would be to work with some sort of financial advisor who is helping you calibrate how much you can safely spend. But the name of the game is to look at your portfolio, ideally every year, and make some adjustments. [00:26:59] Speaker B: According to A Charles Schwab 2024 Modern Wealth Survey released in November of last year, only 36% of Americans have a written financial plan. Of the rest, 43% said they didn't even have enough money to make a plan worthwhile. So here are a few important ways financial planning can help you save for the future. Financial planning can jumpstart savings. Planning, even in small steps, doesn't require large sums of money to start. The proper financial planning can help you create an investment portfolio, giving you a comprehensive view of how to reach each individual goal. And finally, financial planning can lead to better money habits. Planning isn't just about investing. It's about what money can do for your confidence, security and quality of life. Financial planning and security. It isn't as much about perfection as it is progress. Your future doesn't plan itself, but with the right tools and a little guidance, you could be well on your way to a stress free financial future. For the Retirement Radio Network powered by Amerilife, I'm Jim Tarabokia. [00:28:00] Speaker C: This one's for your future self, the one with less debt and more digits. This is another money show. [00:28:09] Speaker D: All right, we're back. Sorry, we're kind of rushed through that. We. Sam was yelling at us for running at a time. Anyways, if you have it, any questions about umbrella policies or any of the stuff we talked about, reach out to us. 623-523-0444. That number again is 623-523-0444. And during that break, I think we might have actually sold an umbrella policy to our buddy, Sam Davis. He did not know all of these things. He's here learning from us too. [00:28:38] Speaker A: Sam is one of our loyal listeners. Obviously, he has to. So he's like, he's kind of a forced listener. But we still appreciate listening. Sam has actually come out to Arizona to meet with us too. So if you're listening to us, do what Sam did. He came all the way from Georgia to meet with J.R. and Anthony, so you can, too. [00:28:55] Speaker D: So what are your excuses from coming across town? [00:28:58] Speaker A: Right? [00:28:58] Speaker D: No excuses. Sam flew. We're worth it. [00:29:01] Speaker A: Yes. So, one last thing about the umbrella policy, I just didn't want to be remiss. Sam brought up a really good point and I want to share it with you. Sam said it's bad luck to open an umbrella policy indoors. So make sure when you start your policy with your agent, you're outdoors. So I thought that was very clever. Sam, Sam, you know, he's behind the scenes. He doesn't say much, but Sam types stuff all the time. That throws me off and cracks me up. So I need to share what Sam says. Anyway. What else have you got for us, Anthony? It feels weird having you in the driver's seat, me in the passenger seat. [00:29:35] Speaker D: Well, I got some articles for you. [00:29:37] Speaker A: Let's do it. [00:29:37] Speaker D: And I'm almost. I don't even know how to get into this next one because we spend so much time complaining about cryptocurrency. Abtc. Do you know what that is? [00:29:49] Speaker A: A, B, T, C. Yep. I have not a clue. But I'm sure I'm about. [00:29:56] Speaker D: Yeah, you're going to now it's a new stock that got released today. What are we talking? We're in the 3rd of September. It's a company owned by Trump Sons, obviously endorsed by Trump. And it is going to be a bitcoin mining firm that is now publicly traded. A bitcoin mining firm. So now you're our resident crypto expert. What does that even mean? What does this company even do? [00:30:24] Speaker A: Okay, let me. Let me macro before micro. Let me, let me give you my first and no, I've never heard of that name and no you didn't brace me for whatever we're going to talk about today. I didn't even know we were going to talk about umbrella policies, but I'm glad we did. Let me tell you my first thought. Government. I don't care if you're Schumer or Pelosi or Donald J. Trump. I don't care who you are. Stop intertwining our country's finances with your personal whether it's optics, whether it's. But if it looks like you have anything that can make personal gain stop while you're in public office, as soon as you get out, start that mining firm. I don't care. You know what the government does. The government spends. Like drunken. Oh boy. I should be careful. A big segment of our audience, our listening audience are probably drunken sailors. Yes. So I need to not offend a lot of our audience. But you know what government stop this. I don't like the government doing anything that could profit. When you say the family, the sons. I want the family and the sons to work. I want them to get ahead. I realize they're not running for public office. But you know what, when we first talked about the wealth, for example of Chuck Schumer, I guess now we can talk about Elon Omar. Is that her name? Did you hear that over the weekend about they're saying her net worth is an estimate of $30 million. And she comes out and says I'm not a millionaire. She's like my husband. That's how she's saying that she's worth. She's not a millionaire but you know, apparently her husband and by the way is that her brother or cousin or father or son or somebody. But anyway, politicians, we know what you're doing and stop it. I'm sorry. I can't help myself from taking over the show, can I? [00:32:01] Speaker D: Anyway, I'm not a good public speaker. [00:32:04] Speaker A: And I am learning a lot about cryptos just because a. And as much as I fought it, and I'm still fighting it, don't get me wrong, I still think it's all trash. I still hate it. I still think it's air until I can take a shibu inu or a poop coin. As soon as I can take a bitcoin to go to Walmart and, you know, buy my goods and services with it. I still think you have air. If we have a solar flare, if aliens attack, if we have an emp, Tell me how good your cryptocurrency works. So. But it's coming. So whether J.R. and Anthony and Sam like it or not, it's coming. You know, the government is the genius act. We're going to back stable coins with a completely worthless fiat currency. We're going to go from one fiat currency to another. But it's coming. So mining. I'm learning a lot about it just because I know I have to. And me owning grayscale bitcoin for the years I have. Not that I'm making any sales recommendation to you, but I've been trying to track it now. I bought into my very first standalone cryptocurrency, and again, not a recommendation for me. I think it's coming. I don't want to miss the boat again like I did on bitcoin when my office manager and I talked ourselves out of it when it was less than a dollar a coin. I don't want to miss the boat. Whatever this new one is that's backed by the Trump family, if they're buying into mining. A lot of what's going on with cryptocurrency, it's confusing. You have to understand what a cryptocurrency is. You have to understand what blockchain is. You have to understand how it moves. You have to understand mining. You have to understand these big, huge, hot computers that are taking all our energy. You know, if your electricity bill is going up even though you switch to LED light bulbs and you did everything they said to do, you went to Zero Escape, you did everything to be a good steward. You bought your Prius or whatever the heck is out on the road now that doesn't need gas, you did all this. Well, then why is your electricity bill keep going up? One of the things. Because cryptocurrency mining, these big computers take a Lot of energy. They take a lot of electricity. One of the, you know, AI that's coming, there's database farms that are coming up. Wow. I went off. [00:34:11] Speaker D: This is, I mean, you just said it right. So it's takes a lot of electricity to run a computer. That's what mining is. So it's a big warehouse with a bunch of computers. And now it is a publicly traded company on nasdaq. Should it be? Probably not, no. Is it because it's associated with Trump? Most definitely. And then what about, we even talked about World Liberty Financial in a long time, but that's another one that Trump had his name on or his sons. And I was like, well, he's not involved. He was definitely toting that. And I don't remember the specifics on it. I don't really care. I just, I was looking at the news, I saw that this new firm was coming out. I was like, you got to be kidding me. Because especially if that's what it is, it's just, it's running a ton of computers in a warehouse and now we've got publicly traded companies on it. [00:35:03] Speaker A: I mean, as you know, from the last month or so, you know, I bought into a direct crypto through my buddy Joe and the name is texit. I mean, I've been telling people about it. There's a couple different twists. I mean, it's here in Texas. It's staying domestic, not international. They're having small buyers instead of big monsters. You know, when bitcoin started, Satoshi or whatever, whoever was behind it, it was a good idea because we were losing our world reserve currency back then. It's worse now. We were losing the fiat currency. The erosion of the dollar since it's been out is what, 93%? So it was a great idea because we can get the government and their mismanagement and their drunkards, say, their ways out of our financial system and be self sufficient. But guess who got their little nose into it? The government. You know, they're like, you know, it's out of the reach of the government. But the government started seizing accounts saying, we think you're funding terrorism, you're laundering money, you're doing drug money. And they started stealing bitcoins from people. Let that sink in. So if you're a crypto millionaire super genius, just understand if the government decides it's time for the new central bank, digital currency and bitcoin's not it, you're going to have nothing. I just want you to know that you're going to have Absolutely nothing. They're going to pick and choose the winners, just so you know. [00:36:17] Speaker D: Well, not even at this point. I mean, they're all, they're all so invested. Vanguard's not going to let it go at this point. BlackRock's not going to let it go at this point. The US just kind of let it go. [00:36:27] Speaker A: They're going to let all these go and to get the new currency before it gets unveiled. They're going to, they're going to be the inside traders and they're whatever's going to make it through the next 20, 30, 40 years, believe me. Vanguard, BlackRock, Blackstone, the government, these big players, I'm not going to, you know, say mob bosses, these big players on the financial scene, they're going to do what they have to do. They're going to convert all their Bitcoin into the new US currency. So, and you know, part of the whole thing is tell me what's coming, you know, with your crystal ball, tell me which cryptocurrency is going to make it. I don't know. You know what I would say, you know what I would say about anything, whether it's this new abtk, whatever you said, btk, whatever it is. You know what I would say? I would say moderation and diversification. If we research this, Anthony, it seems like it's a great idea and it's got the backing of the Trump family. You know, should we, should we sell everything and buy it? Probably not. You know, should we put maybe a little bit of money into it? I don't know, maybe, I don't, I don't know. [00:37:26] Speaker D: It was up 16 last time I looked, but it was literally just released today. [00:37:30] Speaker A: But that's great. You know how much Texacoin is a year today it's up 4,000%. So I mean, come on. And, and you know what, you know, and you know what my strategy is for Texacoin? I'm waiting a little while because I didn't put in enough where I, I want my money back. If I lose all my money, I'm not worried about it. But I did put in enough to, I want to kind of see because the trajectory so far and the business plan and everything, I've just got my first commission. I got my first commission on Tuesday, yesterday morning, because Monday was a holiday, I got a thousand dollar commission. So, you know, I mean, make fun of the MLM status of it all you want, but I, I just, I put in 3,000. I tell everybody what I did. I put in $3,000 in one day. I got my first commission check for 1,000. They said, do you want more hash? Do you want the coins or do you want cash USD? So with this crypto, I could have taken a third of my money back yesterday. I decided to wait a little longer. I'm going to wait until I get about double my money, which I think should be in the next few months, and then I'm going to take out my original investment and then I'm going to keep playing with house, house money. So what I try to do with every investment. When I bought a house In December of 2008, I paid 275,000. When it got up to 550, so I could double and that. And that was about two years. It was after Covid, but it got up to it was worth about 550. I was lucky. My realtor friend John talked me into, you know, we kind of went slow with selling it. We wound up selling it for 650, paid 275. So I think that's how you should handle crypto too. And I think that's how then you always get ahead. You should try to buy low, sell high, instead of buying high, selling low, which is what most people do. So. And obviously when the compliance department listens to this episode, before they let it air, they need to know that me and Anthony are certainly never going to recommend that people buy something without talking to their attorney or their finance advisor or both. [00:39:20] Speaker D: I'm still here to bash it because they're all crypto. Even Bitcoin is a circular economy where it only it was essentially right. So what are some real things in it? The mining. That's a computer. It's electricity. That's all. Those are hard assets. That's, you know, there's something tangible there. Now, how do they pay to use that energy? That's where Bitcoin came in. So the computers are running the blockchain technology. They're doing all their calculations. Then they created the coin to pay people because people are paying for electricity. They're playing to host these computers. [00:39:59] Speaker A: Yes. [00:40:00] Speaker D: They're paying them in a currency that doesn't exist for something that is real. Intangible. [00:40:06] Speaker A: Yes. [00:40:07] Speaker D: They created a fake currency to pay you to use your own electricity and to build computers to mine. Yes, that's how that works. [00:40:17] Speaker A: Yes. [00:40:18] Speaker D: So there's really no value to only works because the computers, the mining is only running the transactions that have to do with the coin. So it's only mining and only transacting what the coins are going back and forth. But why does anybody need to track a currency that doesn't exist? A real point to the mining. Anyways. I know we covered it. We've covered it too much. We don't have to keep talking about this. I just. I'm trying to understand. I'm. I'm really am. The more I. I just don't. I just don't get it. [00:40:52] Speaker A: I get it. I get it. And you also are a scholar of history. You're a. You look at history and I mean we talk about tulips and beanie babies and pet rocks. We talk about. [00:41:02] Speaker D: We just talked. This was less than a year ago. Cryptocurrency NFTs came out at the same time and NFTs dropped when we were. [00:41:08] Speaker A: New three and a half years. [00:41:10] Speaker D: Their value in less than a year. [00:41:12] Speaker A: I have three of them. I own three because we were Cardinals season and I'm sorry that I even have to say that out loud, but we had season tickets for the Cardinals for many years. We do not any longer, by the way. If you ever want to know why, I'll tell you. It has nothing to do with their record because I was born raised in Chicago, so I'm a Bears fan. So believe me, I'm not used to winning. But Anyway, I have three NFTs. They're on my computer. As long as I have my computer and it doesn't crash, I still have them. And I remember asking people, well, what do I do with this? They're like, well, you hang on to it. And other people are like, well, you sell it. And they were given to me as a season ticket holder. There's something, you know, with the players. I have no idea if I. I just know that I guess I should have when it was a little more of a frenzy about three years ago, I should have sold them and I didn't. And now I don't know what to do with them. [00:41:58] Speaker D: So maybe it's that one of those things that'll come back around that maybe lose 90% of their value and then. [00:42:04] Speaker A: Sky to me, I mean they were. They were complimentary. All three of them were. So I don't know. The whole thing is the more you know about some of the stuff, the more questions you have. So that's probably dangerous. So I revert to my standard default moderation and diversification. So can. You know what? I'll tell you what. I mean the world. We all know the world's weird. I would have told you a month ago. I don't know. Two Weeks ago I would have told you, you know, geopolitically, the world's crazy. Not sure where the stock market keeps setting record after record when, when the world is. There's a lot of uncertainty and the markets don't like uncertainty. I know. We were worried about Ukraine and Russia, we're worried about Israel, Hamas, Palestine, that error. We worried about North Korea perpetually, you know, and then all of a sudden within the last week and a half. You know, I'm always looking for black swans. The number one thing that I'm worried about right now, you know it is, right, Anthony, I brought it up this morning. It's like all of a sudden now we're worried about Venezuela whose people are on the border trying to get foods and meds. You know, Hugo Chavo's the, the oil money's gone, now it's drug money that's floating them. Maduro's got a $50 million bounty on his head. I brought it up last Thursday. It's only about a week and a half. I've been worried about it. Well, we. [00:43:10] Speaker D: Doesn't Maduro make the vaccines? [00:43:12] Speaker A: I mean I, who knows? That was good. If I had a crash symbol, I'd hit it right there. Yeah, that's moderna. But I like where you're going with that. So Maduro's got a $50 million bounty on his head to get him incarcerated. Well, apparently we attacked a drug running ship yesterday the 2nd of. I guess it was yesterday the 2nd of September. Like 11 people dead. So we might be going to war with Venezuela. So hang on kids. I mean all those crypto. [00:43:41] Speaker D: This is such a perfect segue. Sam, we're gonna need you to pull something up. Have you guys heard of polymarket.com? [00:43:49] Speaker A: Poly P, O, L, L, Y, like the bird? [00:43:51] Speaker D: No, just one L. Oh no. Polymarket.com. so there was an article which has led me to this point and it was talking about, you know, all the stuff about Trump being sick and J.D. vance made a comment about how he's ready to take over. Oh yeah, no, it was saying that there's a 6% chance that they think Trump will step down. And I was like, how are they where this is number even coming from? Well, it's coming from Polymark. Polymark. Apparently you can bet on almost anything. And on their homepage you'll see. I think it's like three down on the right at least on mine. US, Venezuela, military engagement by October 31st. They're saying there's a 24% chance and you can gamble on it right now. [00:44:40] Speaker A: Wow. I'm in. I'm a gambler at heart. [00:44:44] Speaker D: Sane is that, that's. So is Trump going to step down? Is US and Venezuela going to go to war? Who knows? [00:44:52] Speaker A: I heard a little, I didn't mean to. I was trying to be unplugged for five days, but I heard a little bit of scuttle on social media that there's a bunch of people that think Trump's dead. There was discoloring on his hands, swelling in his ankles. They're like, yeah, he's got congestive heart failure and he's dead. You know, you went four years with a guy, a potato that couldn't walk upstairs, tripped on sandbags, fell off of bicycles and you never worried about him being gone and now you worried about Trump. All right, sorry, just sideline. I don't mean to make that political, but it's just hilarious to me. Anyways, I've never heard of polymarket, but you can bet your. You know what, then I'm going to dig into it and check it out because that is fascinating to me on. [00:45:28] Speaker D: Some of these are though. Well, it's funny too because, right, we talk about the stock market and how it's legalized gambling and this and that, and I read two articles back to back. One was Deutsche bank says, you know, US is in a bubble. Nvidia alone is greater than entire countries indices, entire countries markets, one company, one US company, Apple, Google, Microsoft and Nvidia alone are 30% of the S P500. So like obviously this can't hold on forever. Then you got HSBC comes out and says that they just raised their projections for what they think the S and P is going to be at the end of the year. They think it's going to be 6,500. They just raised it to 6,400, which I do think is kind of funny because as we're saying this right now, what is the S P? The S P is right between 6,406, 500. So it's like, oh, it's going to be there. But they announced that there, if it's a bullish return through the end of the year, they think it could be as high as 7,000. If it's bearish, it'll be 5,700. But these are two large like these, both these massive banks can make movements in the market and they're both saying totally separate things. So what, what are the odds? What are the chances? Who knows and who really cares? Because none of it is nearly as fun as will Trump release more Epstein files in 2025. There's a 48 chance some of the victims. [00:46:57] Speaker A: You heard about this, right? The victims got together and they're releasing their own list that just came out this morning. Victims are getting together, saying, you know, if the government's not going to tell you who they are, we will. I can't wait to see that. [00:47:08] Speaker D: I'm surprised that list doesn't already exist. I'm pretty sure they already have talked to be like, oh, of course. Yeah. Did you have issues with this? [00:47:17] Speaker A: Do they have the duck? Do they have the intensity, fortitude? Do they have the balls to come out and name names? I don't know. Let's see. When you were talking about the S and P, I just popped up my phone real quick. I looked in. You know, we were busy this morning, but before I left for our appointment, the Dow Jones was at 550 points down. That was this morning. That was today? September 3rd. It was down 550. I just checked in right now. It's down 24 points. How did it make up 525 in the last couple hours? S and P is up 32 points. That was, like, real flat this morning. The NASDAQ's done okay today. You know what? Another. When I talk about, you know, some black swan event like Venezuela, that's. That'll be a real black swan event in this world right now. There was a big parade in China. I'm guessing you both heard about that. Big, huge parade. It was the. It was the. I think it's the 80th year, 80th anniversary of the end of World War II. So China wanted to show off their, you know, military strength. Big parade. The problem with this parade, and we all know, like, North Korea does parades where they put their nukes through the streets. The problem with this one, the President Xi was sitting next to Putin. And what's the Kim Jong Un, dude? What's the little war guy? They were sitting together. This is just yesterday or the day before. This was Sunday or Monday. Big parade in China with those three. So, I mean, axis of evil, I don't know what picture comes to mind, but I can tell you something. Those countries want to de dollarize the U.S. those countries want local currencies to be exchanged. Those countries are tired of us being the world reserve currency. So militarily and financially, if I had to go on poly market, I would bet against the S&P 500 and the NASDAQ and the Dow at this point. So I just I want to bring that up because we still are current events and how they're going to affect your finances and your future. And this stuff with Venezuela and the big parade in China, if you, if you haven't heard anything about it, you might want to look it up. I would say be, this is a really good time to be prepared and not scared and be proactive and not reactive in our world. And yes, we still have. You know, D.C. is crime free now. Chicago, apparently, my hometown over the Labor Day weekend had like eight people murdered, another 50 shot. And they're saying they don't want the National Guard in Chicago. I was listening to this school board. I think it's the school board president. And here she comes out saying, you know what we don't need, we don't need funding. We don't need a million dollars a day for National Guard. We need more SNAP benefits for kids. We need Medicare for all. She came out and said that. So you're not worried about people in the inner cities and in the city killing each other? You want more benefits? That's your answer? You want to throw more money at the people that are shooting each other? Good for you. I don't know. I'm sorry. I'm taking over the show. Anthony. I've had enough. [00:50:18] Speaker D: Do we want to bet on how many people will be murdered in Chicago each day? Because that might be on here. We can bet about the Fed decision in September. Is it going to be 50 basis points decrease more than that? Is it going to be a quarter decrease, which is leading by 86% right now? Is there going to be no change, which is currently 10% now? [00:50:37] Speaker A: The numbers came out, the unemployment numbers came out. It was not good news. There's. Yeah, there's more people looking for jobs. [00:50:43] Speaker D: Of course it's not good. [00:50:45] Speaker A: But they'll revamp it. They'll wait. [00:50:47] Speaker D: Of course they'll revamp it. Of course. None of this matters. Everything is bad. But the stock market is up. And why? Because screw you, that's why. [00:50:57] Speaker A: The stock market is very much a lagging indicator of the health of our economy. I just want to kind of remind people that. So we'll, we'll see. [00:51:04] Speaker D: How many tweets will Elon Musk send between August 29 and September 5? Is it going to be 390 to 419? [00:51:14] Speaker A: Is it going to be your radio show? Get off of Poly Market and tell me what else you have for us today. Didn't you have a couple articles? [00:51:19] Speaker D: That's all I care about anymore. I Want to gamble on how many tweets Elon Musk will send in a month, period? Also, why is the lowest number almost 400? Is that how many he sends out? Is he sending like 10 plus tweets a day? [00:51:35] Speaker A: I mean, that seems about logical. In my travels, I, you know, I try to look for anything that, you know. And, you know, don't forget if the Fed speaks a couple Fridays ago, when the, when the Powell dude came a dude. That dude. When that dude Powell, if you're listening, Jerry, whatever, you know that when he talked, the markets just flew up that Friday and I was like, oh, he. [00:51:57] Speaker D: Oh, yeah. Because we think we're gonna decrease risk. We think, well, maybe they were placing their bets on polymarket and, you know, doubling down on their options, trading in the stock market. [00:52:11] Speaker A: I wonder if Jerome Powell, when Janet Yellen, my favorite cartoon when she was. I wonder if those people know about stuff like polymarket and they just kind of read the pulse of the people. Nah, they're not smart enough to do that. [00:52:22] Speaker D: They certainly run the website. [00:52:24] Speaker A: In our office, we. In our office, we're going to put up a big dartboard. And no, not like the wolf of Wall Street. We're not going to be throwing midges around. But we do want to hire an office. We have an office dog right now. We want to hire an office monkey and give it darts. Obviously not metal darts. We want plastic dip darts. And when the monkey throws a dart, whether it hits stocks or bonds or crypto, that's how we're going to do our financial planning. Because that's what I'm pretty sure the government does when they lower interest rates and raise interest rates. [00:52:52] Speaker D: And, and I did hear focus on income. And then you can do whatever you want. [00:52:56] Speaker A: Income, income, income. [00:52:59] Speaker D: Exactly. [00:53:00] Speaker A: What else do you have for us? I know it's got to be getting late in the show. Are you going to tell people we. [00:53:03] Speaker D: Only got a couple of minutes left. I think we got to wrap this stuff up. [00:53:07] Speaker A: This was a good show. You're a lot more mellow than me. The world, you know, when I do the show, we're all going to die. When you do it, we're all just going to be really sick. We're not going to die. What else? What else? [00:53:18] Speaker D: Yeah, there's more money to be made when people are sick. [00:53:20] Speaker A: Yes, it's big business. War and health are big business. Right? [00:53:24] Speaker D: Anyway, so that is it for today's show. If you like what you heard, you have questions on any of the topics we covered today, reach out to us team@Another Money Show.com find us on the web anothermoney show.com you can schedule appointments with us straight from there. I need to get better. I don't know if everybody gets the the automatic reply when you book an appointment but we see him come through. So I don't know if you get the auto reply but if you have put it on your calendar through our website, we have put it on ours too. So I'm going to try to do a better job to make sure that I let you know that you know we we received it, we're confirmed. So anyways, give us a call. 623-523-0444 that number again 63 523-0444 Remember, there's no cost for appointments. There's no minimums. We're here to help those that need help. Thanks for listening. We'll see you again next Saturday right here at noon on 960 the Patriot. [00:54:22] Speaker C: Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation, visit anothermoneyshow.com investment advisory services offered through Brookstone Capital Management, LLC, BCM, a registered investment advisor. BCM and Rochford Financial are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results. [00:54:58] Speaker A: Foreign. [00:55:01] Speaker D: Have you ever made a dumb financial decision you wish you could take back? Are you worried one wrong move in retirement could wipe away all your years of hard work and savings? What if I told you it doesn't have to be like that? Most companies stopped offering pensions decades ago, but what no one tells you is you can fund pensions yourself. Give yourself the peace of mind of having income you can never outlive. Live in retirement by adding a pension as a part of your retirement plan. Hi, I'm Anthony Crayle, co host of another money show airing on Saturdays at noon on 9 60, the patriot and advisor with Rochford and Associates in Sun City. Reach out to us at 623-523-0444. That number again is 623-523-04444. Let us help you plan your lifetime income in retirement today.