Episode Transcript
[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 Correjo and J.R. rochford.
[00:00:42] Speaker C: 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 the greater Phoenix area to bring you stories you may not hear on those other financial shows. We're aware the last thing you need is another money show, but we appreciate you being here.
Do we have news today or we talk finances today?
[00:01:08] Speaker D: Why don't we do a little news just so we don't shock people. So we'll do a little bit. But yeah, I want to talk a lot about different finances. I'll make it scary. Don't worry, I won't.
What does Joe say? Our buddy Joe Jaquin say? He says we're here to comfort the disturbed and disturb the comfortable. So we'll keep. We'll keep that as the theme even if we go financial.
So knock out the shout outs real quick. Shout out to Anthony. First of all, it was his birthday.
Anthony's birthday was yesterday. So if he looks a little older on YouTube, that's why.
So, Anthony, happy birthday.
[00:01:42] Speaker C: Thank you.
[00:01:43] Speaker D: Did you have a good day?
[00:01:46] Speaker C: Yeah, no, I had a fun time.
[00:01:48] Speaker D: Nice. Okay, excellent.
[00:01:49] Speaker C: Moving on. This weekend will be more fun though. Gonna go hang out in Ocean Beach. That's what I'm looking forward to.
[00:01:55] Speaker D: Nice. You're gonna bring the puppy. I understand you're making it a dog trip.
[00:02:00] Speaker C: Yeah, they got a massive dog beach out there, so that'll be fun. See how he does.
[00:02:06] Speaker D: Very nice.
So the only other shout outs I have this week, Mark Burr, the guy that we had on I don't know what month and a half ago or whatever. Mark Burr, the water guy, he's been keeping us in the loop on what's going on politically with the water and it's. It's crazy. I mean, people will not debate him, people will not work with him to uncover what he has to say. Which makes me think that there's something there even more than I started thinking. I'm gonna bring him back on. We'll work with Sam to find out what day, but we're gonna bring him on at least for 10 or 15 minutes and get an update directly from him.
So. And then later this month we're gonna have Rick Kreiberg on. I've been trying to get this to happen for months. This is the guy from Veterans Affinity. So if you're a veteran, if you know a veteran, it'll still just be interesting if you're not a veteran, but. So that's coming up too.
Last thing I have for shout outs. Next Tuesday we have the West Valley networking meeting. We used to call it the West Valley men's networking, but we went co ed. We needed a change of scenery.
It was kind of stale. I mean, almost four years of the core group and then some new here and there, but it was kind of stale. So now that we have invited women, it is fresh again.
So show up, come meet us if you want to meet us. Without coming the office, come to throne.
67th Avenue, just north of Bell. And that is Tuesday.
What would that be? Tuesday?
Was it 18th or. I don't know. I don't have a.
[00:03:38] Speaker C: No.
[00:03:39] Speaker D: Tuesday the 11th. That'll be Tuesday the 11th. So if you're free, come see us. Four o'. Clock. A throne.
Let's just, let's jump right into things here.
Are you watching the markets today, Anthony?
Something that's been bugging me a little bit this year. I keep shouting about how the bottom of the 2008 correction has been over 17 years. March 9th of 2009 was the bottom. It just. This market has defied all gravity and logic. I did look up, you know, how many all time high records we've had in the main three index, their main three markets, NASDAQ S&P 500 in the Dow. I don't remember which is which. I didn't write it down. But, but there's 22, 25 and 26 all time record highs. We've got the conflict in Ukraine, Israel, Palestine. I think that's still a thing. We're definitely still messing around with Iran.
The whole world's on fire. There's locusts. There's literally locusts invading Russia right now.
I was talking with somebody, I was talking with a neighbor, actually a woman this week who's a neighbor and she thinks, you know, biblically that in end times she thinks the locusts in this country are going to be Drones. So that's, that's a new take on things. So she's, she's worried about drones and she has every right to be worried about drones. There's a viral video this week going around with a vendor by a van, and I believe it's a Russian drone, comes in and chases him, chases him around the van and then blows him up. And it's quite shocking. So if you've seen that video, you know what I'm talking about. If you haven't, I'll find it and send it to you. But it's kind of shocking.
So anyway, let's see here. Anthony.
Anthony SpaceX. I know that there was a flurry around SpaceX and now today is the day that the stocks of the employees are released. So I don't know what's going to happen. I'm guessing it will jump today. I mean, you know, I don't know if it's a who cares situation, but all the buzz around X and obviously the people that jumped in lost a lot of money. I don't know if that'll change today. I think there might be some activity and then I think it's going to get worse.
[00:05:54] Speaker C: Again, you've taken yesterday after they beat revenue expectations.
[00:05:59] Speaker D: Yes.
[00:06:00] Speaker C: So they came out with good numbers, but stock still went down because again, none of that matters.
[00:06:06] Speaker D: Yes. No, nothing matters. There's no, the PE ratios be damned. I mean, there's the, the fundamentals of the economy, you know, I mean, who cares about commercial real estate? Who cares about, you know, private credit? All the things that we've talked about.
It just doesn't matter. Sam, excellent point. We haven't talked about this in a while. All of the people that do what Anthony and Sam and I do, they, they have to be ready. It's been 17 years. They have to have their elevator speech polished off. Get ready to say it's only a paper loss. You just went 17 years without reminding people. It's also only a paper gain. Why didn't you, for 17 years, dollar cost average out of the markets if it's appropriate for you, obviously. Why didn't you capture profits over the years, pay down debt, buy hard assets, look into insurance companies for lifelong pensions? Why didn't you do all that? Because your advisor probably didn't bring it up. So get ready. You know, when this market finally in there, boy, there's big cracks in it here lately. When this market finally gets some realism to it, here they come. It's only a paper loss. Don't panic. I don't Know, it's pretty real to me. If I see my statement is down 10, 20, 30, 40, 57%, it'll get kind of real to me. So. And there's so much uncertainty. I thought financial markets did not like uncertainty. I don't know, it just, I keep trying to point out the Dow Jones Industrial Average, you know, which is some people consider the main benchmark that they watch on TV. That's only 30 companies. When one doesn't perform the way they wanted to, they take it out and put a new one in. Remember when Walmart, Walgreens was taken out last year and they put in Amazon, Amazon, by the way, boy, Jeff Bezos, you're selling $4 billion of your own stock. Is that what I just heard recently?
And you know, I'm not gonna talk all day about stocks, but good night. You know, the stock buyback, stock repurchasing or. Wow, is this on steroids right now or what? You know, watch, watch Japan, I mean, the whole world's on fire. South Korea, if you're watching the stock market, you know, Japan, the fiat currency is dead. It's over. Now they want us to buy more of their bonds. They are going to dump our. But I mean, I don't, I don't understand any of this. I just know it's all a big shell game and I think it's getting closer to the end. So be ready. Be proactive, not reactive. Maybe be prepared and not scared. You know, the, the, what else is going on? The politics. We had more, we had more political stuff to talk about this week. I'll be real, real quick about this. Anthony or Sam, I'm putting you on the spot here. Have either one of you ever heard the name Abdul El said?
[00:08:50] Speaker C: No.
[00:08:51] Speaker D: Okay, so neither one of you. You may. When we get off of the air today, you may want to look up Abdul El said he's in Michigan and he's another one of these dsa. He's another one of these up and comers we're getting. He's, I'd say Islamic. I mean it's, it's Michigan. I mean, look at Dearborn. Look at what's going on in Michigan. I'm just. The future for you too is getting more and more sketchy. And I don't know that you even see it when you're not watching things like am. I don't know if you see it.
Sometimes I feel like Anthony, especially you, you don't need to see it because you have me. So I'll bring up whatever's Important. I'll bring up things so you don't have to. But you know what? It's all going to affect your future. The stuff that I say for our listening audience, it's for you too.
So it's, it's getting scary. I mean, I, I, I don't know. So if you get up to speed a little bit more in politics, you're gonna be like, oh, maybe J.R. was onto something that we better be careful with our future. You know, grocery stores in New York. The whole thing's just bizarre.
Another thing that's kind of weird to me. When I was a young man, your goal was to graduate from high school. Either get a job, go to tech school, join the military or go to college. And then in your 20s, that's when you buy a house and you start looking at getting married and having kids. It was a simpler time. I realized it was never Mayberry or the Brady Bunch, but it was a little more simple than now. Then all of a sudden things started changing. The American dream. I'm using finger quotes is kind of a, it's long gone all sudden. You know, we told you about a year ago the average home buyer was in their 40s. Think about that.
I mean you're halfway through your career and you're halfway to retirement in your 40s. That's the first time you're buying a house. The numbers came out earlier this week. I'm gonna put you on the spot again, Anthony. Sam, do you know how old the average first time homebuyers right now? This is insane. It's going up so quickly. Do you know what it is, Anthony? Furious. And giggle. Google. I said giggle. I meant to say giggle. No, it's 59. 59. I'm going to round, I'm not the government. When it, when it was, you know, retirement age 59 and a half. No, make it either 59 or 60. RMD age was 70 and a half. No, make It 70 or 71. 59 is what my understanding is for the first time home purchaser. How can younger people buy a house right now? Starter home 450. $475,000. Six and a half percent interest rate. I mean obviously we're in trouble, so we'll see what happens.
A quick follow up. I had somebody reach out to me. I don't, I don't know if it was Alex next door to Anthony or who it was, but somebody reached out. We did a story a couple of weeks ago about, was it New York? The, the first teacher this year. The first Robotic teacher was going to be unveiled this year. Apparently they. They put it on hold. They put on hold. Says here. Oh, yeah, here it is. A New York school has been forced to scrap a plan to deploy a human like AI robot teacher after intense backlash. And then I read further. It turns out that the school district pauses the plan to deploy a human like AI teacher over manufacturers ties to sexbots.
So not only is it on hold to get the robot, apparently it could have been a very pretty teacher.
[00:12:21] Speaker C: I don't know.
[00:12:22] Speaker D: I don't know why I'm giggling. It's just everything to me is funny. I guess that's why I'm giggling.
The newest stomach virus. Watch out for jalapenos. So add lettuce. We lost all the salad and go stores this week.
Is that something. Stan, do you have salad and go in Georgia? I think it's a localized thing like New Mexico, Arizona. Sam. Shaking. No, it was really cool. It's like little, like little Dutch brothers type buildings. And you could get breakfast burritos. Sandy would come home from school and she would bring a couple salads for us. So it's a healthier way to eat and it was reasonable. And they did have really good strawberry lemonade. So I'm not sure how healthful that was. But so anyway, it's going away and the buildings, which look like Dutch brothers apparently are going to be snapped up by guess who. Dutch brothers who has a lot of cash, I guess. You know, charging $9 for a little bit of coffee. I guess you can build up your. Your war chest in case somebody goes out of business.
Let's see here.
I'm going to hit. Just. Just briefly. Anthony, I don't want to scare you. I'm. I'm watching the clock so much. I'm in. Sam. But it's not even coffee. Yeah, who knows what's in that Brothers. I definitely know that there's crack and msg. I mean, I'm assuming I'm allegedly saying that because that stuff is addictive. It's like candy.
Couple follow ups for you. Sugar and caffeine. Amen.
So here is from the end time headlines on the 1st of August. Flock CEO wants its cameras in every one of America's 17,000 cities. I won't go too far. I'm just going to read two lines. In a recent exclusive interview, Flock Safety founder and CEO Garrett Langley. We've discussed Garrett. Garrett calls people terrorists. That's. The guy. Outlined an ambitious goal for his company's network of license plate readers and surveillance tools. Expansion into every one of America's approximately 17,000 cities.
Looking ahead, Langley made his expansion plans clear. We're in 7,000 cities today. I'd like to get us up to all 17,000 thousand cities in America and create that future because it's quite doable. So good for you. Good for you. You're ambitious. You do realize Flock is a. It's a public or not public. It's a profit company. It's not a 501C3. It's not a government agency. So while some of us are concerned with a upcoming surveillance state, perhaps some of us are concerned that we're losing our rights in this country. Like the fourth amendment, right? Apparently that guy's, he's making bank as the young kids say. That guy's lit. He's, he's fire. One more thing from the 24th of this 24th of July end time headlines. Flocks Alpha drone. So Flock is expanding, kids. Flocks Alpha drone is capable of reading license plates from 2,000ft away.
A new drone capable of reading license plates from nearly a half a mile away is in the air. Now entering the hands of American law enforcement. Do I need to read any of this? I highlighted pretty much every single word of this. Specifications list a top speed of 60 miles an hour.
Let's see here. Yeah, I'm just going to put this aside just so you know.
So. And by the way, they're only watching your traffic patterns, so if you commit a crime, they can follow you. I don't know. I do want to know why they're on hiking trails. You know. Our loyal listener Jason sent us a thing showing that they found one at the entrance to a shooting range. That's a perfect place for a flat camera because a lot of cars go, you know, out of the parking lot and onto the shooting range.
So, yeah, kind of weird.
Let's see here. Moving on a little bit. Another follow up to another story. This is from the 31st of July end time headlines. Feds issue warning as Iranian hackers suspected in cyber attack on Minnesota water systems. I'm not even going to read the article because look at me go through this stuff on the 31st.
A follow up to that story. FBI says hackers have targeted municipal water systems in seven states this week. So this is just a few days ago.
Hackers have struck municipal water systems across at least seven states this week, triggering an urgent federal alert as authorities race to contain threats to critical critical infrastructure. I need to slow down the hair. According to a report from NBC News, the FBI and environmental protection agency issued a public service announcement Thursday warning water and wastewater utilities nationwide that malicious actors are actively seeking to disrupt operations. The warning follows a breach of more than 30 municipal water facilities in Minnesota earlier this week, an incident that carried the hallmarks of Iranian linked activity, according to a law enforcement official.
Officials said the malicious cyber actors have targeted specific brands of industrial control systems used by municipal utilities. Hackers remotely accessed Internet facing devices, altered IP addresses and passwords and caused operators to lose monitoring and control capabilities.
So a couple of things for you. One, I will definitely save these aside and ask Mark Burr if this is another concern, more imminent if they and I think they added a couple of states, I think I just heard yesterday, New Jersey now has had a breach and another one. So my question for you, is this a test? Are they, are they going to these cities to see, you know, do we, do we use the same kind of infrastructure on these water plants all across the country? And now have they figured out what they're doing and then they can go to all 50 states at one time? Can they go further and literally shut down our water and watch us do the rest? We will panic. We will panic if that happens. If you, you know, if you go without hand sanitizer, Clorox wipes and toilet paper, you know, for any length of time you panic, wait till you see water or food. So and my reasoning here to talk about this, I'm not trying to scare you. I just want you prepared. You know, I talked about if you have the means and you have the space to do it, get a solar generator, get a fan, get some extra water. Last week I talked about a water bob, which is a little water bladder for your tub. Get some extra food and water. I mean, this is serious. You know, we've been shouting for four years, we've been sounding alarms and nothing's happened. So it's like the Boy that Cried Wolf. And I don't want to name drop here, but early in our radio career we, we had Seth leapson on the show and it was brought up that I'm the boy that cried wolf. And he reminded us that at the end of that story there really was a wolf. So be ready.
Shifting gears but still staying around Iran. You know, we like to travel a globe to bring you news. Shrinking stockpile has Pentagon Scrambling for weapons as war in Iran drag on. This is from the End time headlines on 30 July, in a late June meeting with more than a dozen of the nation's top defense technology firms, Defense Secretary Pete Hegseth delivered an urgent message. The Pentagon needs their assistance to rapidly rebuild America's weapons arsenal. The gathering underscored growing concern that traditional suppliers alone cannot restore inventories fast enough amid ongoing operations. Just last week I told you, they're reaching out to Silicon Valley firms to see how they can help. As operations continue, the pressure on both established and emerging suppliers intensifies.
I'm thinking about jalapenos and lettuce still as I think about this. The late speaking of explosive, the late June meeting with Hegseth and the subsequent push for rapid replenishment signal that Defense Department views the current stockpile situation as an immediate strategic concern rather than a distant planning issue. Two things for you. One, what if China and Russia decide now's the time to back Iran? They are partners, you know, so that's one. The other thing is, I was in the military.
I remember something. Sam, your mom would testify to this. There was a phrase used a lot called a need to know basis. Depending on your security clearance, your rank, your station, depending on a lot of different things, you either had the need to know things or you did not. The American public does not have a need to know if we're about out of missiles, THAAD missiles, atacms, all the stuff I'm reading that we're low on. Another Another article just from the fourth US has used virtually all of its long range precision missiles during the Iran war. The US military has nearly exhausted its stockpile of critical long range precision missiles after five months of fighting in the Iran war, according to a report from Reuters citing multiple sources familiar with the data. The depletion of these weapons is raging, raising urgent alarms about America's ability to deter other major adversaries. Pretty sure that's what I'm getting at.
President Donald Trump launched the joint US Israeli campaign against Iran in February, initially predicting a short conflict. As the fighting has stretched on, officials inside the administration have grown increasingly concerned that the rapid drawdown could leave the military less prepared for potential crisis involving Russia or China. Oh, there it is. Maybe I didn't think that myself. Maybe I found that in that article. I don't know. One last thing here about this whole mess. China to supply shoulder launched missile systems to Iran in weeks.
This was from the 29th of July and guess where it was from. This was from the End Time Headlines. My very favorite source. Now Iran is preparing to take delivery within weeks of its first batch from a major order of Chinese made shoulder fired air defense systems, according to a report from Reuters citing three sources familiar with the arrangement. The deal, valued at 60 to 70 million, involves up to 400 man portable air defense systems and ranks among Tan Tan's largest known efforts to bolster short range defenses since the start of its war with the United States and Israel. Military experts note that the portable systems can be dispersed rapidly by small teams and move frequently, making them harder to target than fixed batteries. The QW12 and the FN16 are infrared guided shoulder fired weapons designed to engage low flying aircraft, helicopters and drones. I'll leave it there and I am very mindful of time so I'm going to tell you one more thing. I dug out an article that I got in June from the End time headlines on 14 June 2026. This is how I'm going to tie this into finances and why we need to spend some time today talking about what you should be doing with your finances. If it's appropriate for you, of course.
This one this article from the 14th China prepares digital Payments Platform to Challenge the Dollar Dominance While we're worried about El Said, while we're worried about, you know, politics and Iran and everything, the China, the BRICS nations, we don't talk about that enough. They are still planning on getting rid of the fiat currency that is used globally now and that's our U.S. currency.
So this is, to me, this is scary. I don't know. According to a report from the Financial Times, Beijing is advancing plans for the commercial rollout of a blockchain based cross border payment system designed to facilitate faster and cheaper international transactions, potentially reducing reliance on traditional dollar dominated networks. The platform, known as mBridge, is backed by the central banks of mainland China, Hong Kong, Thailand, the United Arab Emirates and Saudi Arabia. It uses distributed ledger technology to enable real time peer to peer settlements between participating institutions, bypassing some conventional correspondent banking channels. One last thing. Preparations for a full commercial launch are well underway with the new Hong Kong based entity expected to oversee operations. Sources familiar with the project indicated that fees could be roughly half those of standard international payment systems, making it particularly appealing for smaller businesses that often find systems like Swift costly and cumbersome. With that, we're going to take a break. Reach out to us if you would at 623-523-0444 or email us team@anothermoney show.com set up an appointment. Sit with us. Let us be a second opinion on your finances. Remember, remember, there's no quote, there's no pressure, no minimums. We want to help you. So thank you so much for being with us. We will Be right back.
[00:26:00] Speaker B: To schedule your free no obligation consultation with JR and Anthony, call 623-523-0444 or visit anothermoneyshow.com.
[00:26:21] Speaker C: Hi, I'm Anthony Corayo, co host of another money show airing on 960 the Patriots Saturdays at noon and partner of Rochford and Associates in Sun City. If you've heard our show, you know it's more news based and how current events could affect your finances versus an hour long infomercial. Well, now it's time for that infomercial. But I don't need an hour each week to tell you what I can say in 60 seconds. The key to a happy retirement is interesting. Income, income, income, income. Clients with low assets and those with high assets all have one thing in common, a fear of running out. Assets come and go. Income is forever. Self funding pensions is the key to a happy retirement and we can help you do it. Reach out to us at 623-523-0444. That number again is 623-523-60444. Or find us on the web at anothermoneyshow.com and let us help you not worry about your retirement.
[00:27:19] Speaker A: Registered investment advisors and investment advisor representatives act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interests of our clients and to make full disclosures of any conflicts of interest, if any exist. Refer to our firm brochure the ADV2A page 4 for additional information. Any comments regarding safe and secure products and guaranteed income streams. Refer only to fixed insur.
They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company and are not offered by bwa.
[00:28:00] Speaker B: So let's break down the big stuff without the boring. It's money time. This is another Money Show.
[00:28:08] Speaker D: Well, welcome back to another Money Show. Thank you so much for being with us. As you know, we really do greatly appreciate it. We love meeting you. We love talking to you. You know, I just. We're a little fish in a big pond and we need your help and we value it. And thank you. Keep, keep coming. If we can help you, we'll be glad to. We're at 623-523-0444 or you can always email us teamothermoneyshow.com Please help us with the YouTube channel. We're still slowly growing. I, you know, we're not, we're not radio people. We're not social media people. I mean, we're really lucky that we have Amerilife, we have Sam, we have shelby on the YouTube channel because we wouldn't know how to do any of this stuff. So. But. But please help us and then grow if you can do it. Next Tuesday the 11th, come out and meet us at Throne, 67th Avenue, just north of Bell. It's a casual happy hour. No. No dues, no speakers, no anything. Just come and meet us. Good food, good drinks. If you don't drink, that's okay. They do have Pepsi and water and other things. So why don't we do this? Because we have a lot of financial stuff to get to and I'm actually going to let Anthony do a lot of it. I want to skip the Festivus report, so don't complain. Don't worry, I'm not going to throw the report away. I'll just save it for next week. I will open the Desert Storm trading cards because that is our mission right now.
I like to open them as you can actually see this. So you know that I'm really opening one a week. We are looking for George Bush Senior or the granddaddy Saddam Hussein. So far today we don't have them. We've got some sort of a cool rocket here. It's a M1, M104 Patriot. And the thing about this, if these are still in production, we're running low on them.
Need to know basis. We're running low. Here's an M60 machine gun.
We've got. We've got the government. We've got the actual government. It says national anthem. You know, I mean, I guess that makes sense. Another government.
United nations, sanctions.
Some of these are just bizarre, Sam. I'm sorry. Geography. We've got Luxembourg. Let's see here. We've got more military asset. The Channel 4 7D Chinook helicopter. Hopefully we're not running low on those. We've got a military skill. Women in combat. I actually think more women should be in combat and less men. So. Especially as my youngest son may be drafted sooner or later. Geography. We've got Senegal. Senegal is where is that? In Africa. So Senegal is part of. Oh, man. We only have two left. We have New Zealand, another country I don't readily think of when I think of the Gulf War. And we have a person. We have Hafez Al Assad.
Assad.
I'm trying to make these names harder than they are. We have a leader, Hafez al Assad. And on the back it says who these People are. I won't bore you too much, but apparently he was an active participant in the anti French demonstrations during World War II. Okay, so we're going to keep going. Next week we'll do it again. Next week we'll do the Festivus report and more cards. Anthony, should we talk a little bit about money?
[00:31:23] Speaker C: Sure. What are we going to talk about?
[00:31:24] Speaker D: I don't know, I just, I just, I. Anything financial. I feel like that's your job. I will, I'll open the door with, with a little passion for you. I think that people should be proactive, not reactive. I think that the most important thing in life with finances, from my experience of almost three decades, is diversification and moderation. I think if it's your money, if it's your 401k or your IRA or your stocks or bonds or mutual funds, gold, silver, whatever kind of money you're dealing with next to your health, I think it's probably the second most important thing on this planet. I did go into the fdic.gov yesterday just to make sure I was familiar with the current numbers. You know everybody. If you have under $250,000 in your bank, you feel pretty safe per account. I just want you to know if we have a modern run on the banks, modern day run the banks, you're not as safe as you think. I can show you how to find it. Just go to their own website. The amount of insurance right now they call it the depositor insurance fund. The current number is 1.43%.
So the money that's under $250,000. If you needed that insurance to kick in, you have $1.43 for every hundred dollars you have in the bank.
[00:32:41] Speaker C: That's if all of the money disappears overnight. So that'll never happen. But what can happen is a tidal wave effect of one bank going, then another bank going, then another bank going like SVL in was it 2022? Yeah, but so that 1.43% represents. And I don't know the exact number, the numbers I saw before for were what, 120 billion approximately. So that's a good chunk of change.
However, all of that was wiped out with one bank with SVL. At least theoretically it should have been because 90% of SVL was not insured.
[00:33:18] Speaker D: But you just said it would.
[00:33:19] Speaker C: FDR wasn't insured from the fdic, but the US government came in and took care of that. So I don't know the point of having FDIC and these rules if none of that matters.
[00:33:29] Speaker D: It doesn't matter at all. So you should, moderation, diversification yourself. You should have so much in the bank that you need for your bills and your cell phone, your insurance, your rent, your mortgage, your gas, your food. And you should maybe have some hard assets. You should maybe pay down debt. You should maybe sit with Anthony and figure out if there are any other solutions as part of a laddering strategy. When you said it'll never happen, it would have to be all the money, all the banks, not true at all. You just said what I think is going to happen if we just have a few banks, if we have a little bit of panic. It's not like it was, you know, 20 years ago, Anthony, not that long ago.
A lot of people went to the bank to get their money, which by the way, we have an ongoing issue with people going to a bank to get small amounts of money and the bank teller, the people asking what they're going to do with it and so forth, giving them a hassle to get it. That's still a thing. It's transferring it from your brick and mortar bank to your ally or Capital One, SoFi, Discover, whatever. It's people transferring it to other companies. It's all digital. There's no money in these banks. That's why I'm always trying to make sure you at least know what you're looking for. Because if there's any signs of an imminent problem, we want our listeners to be first, first come, first serve. We want you to know what the Dodd Frank regulation says. We want you to know what a bail in is. We want you to be ready, Anthony, if people come in and see you, if they sit down with you. I mean, tell me a little bit about, I mean, how do you, do you, you start with a financial needs analysis. Tell me a little bit about what you can do for people listening that have no idea what we do during the week.
[00:35:00] Speaker C: Yeah, I mean it's asking simple questions. You get more in depth than I do when you run the meetings. But I have a pretty much a four quadrant thing that I just want to know what your assets are, what your debts are and what your income is. That's very, very simple. You know, overall plan, individual basis and all that. But I, I see the people that are happiest haven't been amazing investors for their entire career. The people that are happiest in retirement, just their savers.
Savers and excess income is what I see all the time. And obviously pensions have died out over the years. We've talked about that. The creation of the 401k.
So now instead of getting to retirement and you know, you have this pension that you know what a number that you're going to be able to live off of for the rest of your life. It's here. You've collected this money and assets and your 401k. Good luck, don't run out, you know. So
[00:35:56] Speaker D: one of the things Sam just asked, Sam just asked what have people needed help with or been concerned with recently? We've had a bunch of people from the radio show come in. What, what are they worried about? What, what are they, you know, what's
[00:36:09] Speaker C: the thing everybody's worried about? It's running out of money.
Right? So everybody knows that, you know the 4% rule. You can theoretically live off your money because the market has more up days than down days and you can draw 4% and good luck. But there's no guarantees in that. And I don't like that. I don't also I don't consider rmd. When I'm interviewing people and I'm asking about their income, I have a lot of people talk to me about their RMD and that's their income because they're forced to take it out. But that's a manual withdrawal rmd. If you have RMD in the stock market and you're making a manual withdrawal, theoretically you draw that to zero one day because you're just constantly drawing down. Whereas if you set it up with a pension, a self funded pension with annuities, you can have something in your portfolio that guarantees you're not going to run out for life and then you can reinvest everything else, do whatever you want.
[00:37:02] Speaker D: Add we just had a client or he's going to be a client. He's a radio listener, He's a good friend of ours. He's going to retire soon. He's been doing a lot of planning with Anthony on how to accomplish it. And he brought up the 4% rule. What I brought up to him just this week. We were texting each other or messaging or something is the 4% rule is great.
What if we have another 2008 or God forbid, a 2000 and 2008 combined and your portfolio gets cut in half. Aren't you, for all practical purposes, aren't you taking out 8% to get the same result?
I mean if, if we have volatility, you have to get ahead of it. You, you. One of the things that is very passionate about our office, safety first. We, we want to protect and grow in that order.
It's amazing 2000, 2008. What I got to see is money goes down so much faster than it goes up. And we need to be ready for
[00:37:55] Speaker C: the thing though if you have excess income, just like when you're working, while you're working career, if you have savings go up and down, you have emergencies that goes up and down, does it really matter? No. Because you have income coming in, you have a way to re budget, restructure.
Do you have that in retirement? And most people do not. So if you can replicate what your working career was, give yourself something coming in, then all of a sudden your assets really don't matter. Tell me you want to buy all of your money in bitcoin. You want to buy everything in gold. You want to buy if your income's taken care of. The answer is mostly you don't want to put all of your money in anything. But truthfully, do whatever you want. Because I know that if you make poor choices with your assets, you're going to have income to come in and replenish that savings. That's the key. Be able to replenish, be able to
[00:38:43] Speaker D: replenish consistently and hopefully multiple sources until 2032 gets here. And they don't shrink your Social Security. You're going to have your private planning, you're going to have your 401k IRA, that sort of stuff. You're going to have Social Security and you're never going to be out on the street or eating cat food. That that is one of our main goals.
[00:39:02] Speaker C: Oh, have a constant.
But also have, you know, I, I'm. You and I disagree on this a lot with the stock market.
[00:39:11] Speaker D: Disagree on. Continue.
[00:39:12] Speaker C: I know, right? What because and I actually had this conversation with a client yesterday. We spoke for a little bit to review her account. And I don't care if people have money in the market. What I care about is are they dependent on the money in the market? Because the key is don't be caught holding the bag if the market goes down. If you want to have money in the market and the market goes like you have to have money in the market and know that if it goes down that doesn't affect your day to day. How do you make sure it doesn't affect your day to day one excess income. Also have safe investments. You can do fixed annuities and things that are based on what the market does, but don't go down if the market goes down or just cash money market.
The key is if the market goes down, you have to have a way to buy more in right. 2008, 2009, 2010. I'm willing to bet everybody that lived through it wished they had bought more houses, they had bought this, they had bought that. But if everybody's invested together and they already had locked away all of their money, they had no cash, they had nothing that was safe in times of disaster. They didn't have a way to make those purchasing when there was smart buying opportunities. You know, if everything is invested, then you're gonna go up and down.
[00:40:31] Speaker D: I agree with everything you said. I don't forget. I mean, I was in the office in the late 90s. I was there for the tech bubble. What you're missing is the psychology when you're talking about people with income, you know, and yes, I've heard you say it to people. The problem with a lot of advisors that we've seen, we've seen personally. So I know what I'm talking about. I don't have to say allegedly they try to keep you invested. That's where they get their trails, their, their assets under management fees. They try to keep you invested at all times, as much as possible. We see this a lot. So all of a sudden there's a crash. Let's say it's not a bad crash, just, you know, let's say 30, 40% is the next one. And then they're going to come to you and they're going to say, you know, things are down 30, 40%. Why don't you put more money in? It's like, excuse me, where am I gonna get the money from? You've got me invested. Am I supposed to take money out of my emergency fund now to buy more SpaceX because it corrected so I don't know. But, and I'm not following where you say we disagree. I think there's a time and place for everything. I think moderation and diversification. I love stocks and bonds. I just think most people, they don't. I don't. The old buy low, sell high. They don't have the stomach and discipline to buy high, sell low. You know, you should have been selling things for 17 years now. How can you, how can you wrap your head around that? It's all time high. We've had over 20, all time high record market closings this year. There's only been like what, 30, 31 weeks of the year. That means almost once a week we've set records. I mean literally the world is on fire, literally. Especially the western states, you know, we, geez. I mean, there's no reason, you know, The Buffett indicator, all of the stuff that you look at. We've never in history seen things this, this out of whack. It's not going to end well. I'm not going to back down. I think everything cycles. Nothing is going to go on forever, including our fiat currency. I mean, nothing is going to go on forever. Sorry, I got passionate. Anyway, I'm looking for where you think we disagree.
[00:42:28] Speaker C: You don't want anybody to have anything in the market.
[00:42:31] Speaker D: Like, it's not, it's not true. Yeah, I just, I'm more risk averse than you, that is for sure. And I also think part of that is because you have to be somewhat tired of hearing me and immune to my thoughts because you've been in the office July 4th week. So, you know, like a month ago, it was eight years ago, you came in the office and I was telling you that this job, when you see your next correction, is going to be a doozy. Because eight years ago that was on. That was what, nine years? At the end of the 2008 correction, I was telling you, brace yourself because you're going to see a totally different job. And now you still haven't seen it. We had Covid, the biggest black black swan event in the history of the country, maybe the world, and the market went down for one month. Oh, it's okay. Everything's okay. It's not okay. We're fragile and I'm just saying, I. In my mind. So this is my opinion, I suppose there's no way this is going to go on forever. And I just think it happens fast when it happens, you know, how did somebody file bankruptcy real, real slowly and then all of a sudden, I don't know, it's scary. So I do, I love that you're there. I think we offset each other. I love the fact that you keep me calm in the office. Not on the radio show, I won't let you. But in the office, you keep me calm. You do the reallocations for people. You do all the work in the office. I get that. But your job is to do all the work. You are an engineer by trade. You are smart. You are able to figure out things. You're able to back test people's portfolios and see how they would fare. If we have another 2008, you can do all that stuff. I am big picture storyteller. I can give them the concepts of what's going on. I can help them see the future.
You keep them grounded and you do what's right for their Finances. So we offset each other nicely. But yeah, I can see where it comes off that. I don't want people taking too much risk right now. I think there's enough risk around you. You're taking risk eating a jalapeno right now. Go ahead.
[00:44:32] Speaker C: I don't know, do we talk about.
So I like, I like looking at the break even numbers for these annuities and it, you know, rates already, you know, can change at any time. So I'm not going to talk about specific dollar values, but I look at, when you look at annuities, there's a few things that come up. There's bonuses, there's roll up rates and there's payout factors. So Jer and I had this conversation a couple weeks ago, no, a couple months now, because a carrier had bumped up their bonus and whatever, it was something great, it was like 25%, which sounds massive. However, how they get away with selling that. And it seems great, but sometimes those carriers drop their payout factors. So even though it sounds like a great bonus, it's not actually helping you for your income stream. And the reason I say that is because, you know, we're independent, so we're constantly shopping around. So I don't really care what the new sales tactic is to say, you know, this is the new bonus, this is the new roll up rate because we can put all the math together and see what that payout is.
But like if we took a lump sum and based on the payoff factors and whatever was best. Last week when I ran all these numbers, essentially your break even is around 14 years. Theoretically, what that means is you would run out of all of your money that you put in in 14 years.
And if you're living stocks and bonds and you're doing bank, CDs, cash, whatever you're doing, if you're trying to live off of your money, theoretically you could run out. The difference with these annuities and using them as a pension is when your money runs out, they're still guaranteed for life. And we've had countless clients live well past what they thought they were, late 80s, late 90s, into the hundreds.
So it's that guarantee. It's, you know, using the 60 year old number, approximately running out at 74. If you live to 85, that's 11 years of excess income.
It's all profit now.
Right? Takes 14 years to get to that point. Couldn't I have invested in the stock market and made a bunch of money and lived off of that and been just fine? The answer Is possibly. But there's no guarantees. You don't know. And if you time incorrectly, that will make a huge, huge difference. What's it, what do they call it? The red zone. The five years. It's the five years before and the five years after you're going to get it going.
[00:47:09] Speaker D: Correct. You know, I hate that. You know, I hate that every five years of your entire life is a red zone. If you're, you know, you're young, you want help with budgeting and getting your FICO score up and knocking out debt, let us help you. Five years before retirement, it's a red zone. The people that retired in 2007, 8, 9, 10, 11, 12, 13, 14, believe me, their timing was important. But yeah, red zone, that's just a sales thing if you ask me. Yeah, well, by the way, but that's
[00:47:34] Speaker C: the truth though is that there is. If you time that incorrectly, that's going to be the game changer on whether or not you not only excel, you know, you live off your investments and you thrive and you have money to pass to the next generation or you run to zero quickly and before you mean to. And now you're SOL because you've lived off your assets and now your assets are gone. Like so that timing and the, the truth is we don't know the time. Jared just said we've got a seven tier 17 year run up.
We shut down the entire world for like a year and a half and we had one one down day in the market or one down month. That's absolutely insane. Obviously the stock market and the economy are two totally different things. But we're talking about SpaceX, right? And SpaceX, which is obviously already oversaturated, but they came out with their Q2 numbers, right, that said that they were beating, beating what they thought they were going to do. And then the market goes down that day. Like how does it, how does that make any sense?
Shouldn't that actually be good news even though it's already overpriced and people probably don't need in the part of their portfolio right now until it's established. But we're just, they're gambling on it.
Do you want to gamble on running out of your money in retirement? It's not a college.
[00:48:59] Speaker D: When. And it's just, I mean one of the things when I talk about laddering out your money, when I talk about moderation and diversification. Hedge your bets. Should you have money for growth? Of course you should. Should you have lifetime income? Of course you don't emphasize Anthony as much as I do. What lifetime income really means. If you have gold and silver, Bitcoin, xrp, whatever, stocks, bonds, what, Whatever you have. When you run out of money, you get past your 14 year break even. Whatever you said, I zoned out, like you do to me all the time, on purpose, despite you. So you run out of money, you're out of money, you're out of money. You got to hope Social Security stays intact and you can get by. Or you got to spend down and go in all tax. You got to have another plan, got to a reverse mortgage. You got to deal with it at that point. You know what? You can't run out of lifetime income.
We have a. We had a client, she passed away, named Mavis. And she's my very favorite example. I won't give you specifics to bore you, but she put money into a fixed annuity. Be careful. We probably should do a Little Annuities 101 and explain how there really are good and bad annuities. There's ones that we will not sell in our office, even if they pay us more to sell them. So Mavis put money into a lifetime into a safe account, made decent income interest over the years. Then when she started drawing that money down, it ran out. When she was roughly, I don't remember exactly, let's say 86.
She ran out of her money. If it was XRP or stocks, she would have been out of money and we'd have to reevaluate her situation. The company paid her her nineteen hundred dollars a month, which was her income for the next 14 years. She died right after her 100th birthday. Got her paycheck every month until she died.
You've got to exaggerate that for people. There's safety, there's.
[00:50:47] Speaker C: Things started late with her too. Imagine if she had started it sooner. Imagine if she had started at 60, 65, probably would have run out of her money closer to late 70s, 80s, and all of a sudden it's 20 years.
[00:51:00] Speaker D: Yeah.
[00:51:00] Speaker C: And the truth is, you don't know. Kind of like life insurance, right? Tell me when you're dying, I'll tell you how much life insurance you need.
[00:51:05] Speaker D: You stole that from me.
[00:51:07] Speaker C: Yeah, I love that. And I think it's hilarious because it's true. You don't know, so to say. You know, I hear people advertise that, you know, you should never have fixed anything.
Market does better. You can always have money and live off that and live off your assets. The truth is maybe, maybe you can. It's timing. I. But I don't know. And I feel like anybody that tells you with any sort of certainty is lying to you. What I can tell you is that these have guarantees, these have insurance backed stuff like this is you can have a constant. And I like constants. And then after that, take care of your income. And then I don't care what you do as long as you have income coming in. That's the key to retirement.
[00:51:53] Speaker D: And here's some for you as you say that, because what you're saying, I, I relate to it perfectly. I understand what you're saying. One thing for you, let's say, and I'm just going to use a number to make it the math, easy. Let's say you have $100,000, you know, to invest. If you take half of it and you make it safeguarded and income you can never outlive, and then you take the other 50,000 and you invest it in whatever securities or whatnot. If you safeguard half your money, can't you take more risk? Which presumably has always equaled more reward on the other half. Doesn't it even hedge your bets better? And just, just like a general theory, you protect half your money. It also buys you time. If you need to pull money out for retirement and the market's down, take it out of the safe side. And then as things come back, which they always have, I don't know if they will in the future, but they always have. When things come back, then you go that side. There's.
[00:52:40] Speaker C: Now I get why we don't talk finances on this show because this is incredibly boring. I feel so bad for anybody who listened to the second half. Yeah, this is why I shouldn't talk on the show.
[00:52:50] Speaker D: Do you want to talk about cyclosporace?
When that disease goes away, I'll just be mastering how to say the word. It was like with COVID It took me to the very end of COVID to be able to say hydroxychloroquine. I mean, now I can say it easily. Ivermectin, hydroxy.
[00:53:05] Speaker C: So here's the thing. If you're curious about numbers, reach out to us. Because I like talking numbers. Jer will talk to you about everything else. Like he should be in on the show except for financial show today. And I think we do this every few months. And every time afterwards I was like, I don't think anybody cares about this part.
[00:53:23] Speaker D: Little finances every week. Because I liked hearing you talk today. It's actually like, I mean, kind of. I like, I like running the show. But it was nice having you interject.
So we, I guess we're running our time but one of the things that you know, we need to do is like maybe next week we'll take a few minutes and talk about annuities one on one because they get such a bad reputation and we need to, we need to kind of tell people that there's good and bad. You know, there's good and bad everything. Vehicles, refrigerators, there's also good and bad annuities. And we need to, we need to work that out with people a little bit.
So let's, let's finish up the financial a little bit next week and then do the articles because you're right, this is boring.
And people, that's not what they expect from this show. They can get this at the other financial shows.
[00:54:05] Speaker C: With that said, Kevin loves numbers.
[00:54:07] Speaker D: Kevin is. Yeah, Kevin. And you, you guys need to do a seminar for people that are like hyper super engineering types.
[00:54:15] Speaker C: Kevin's like you. Kevin's entertaining.
[00:54:16] Speaker D: At least he is. Yeah. But I mean for an engineer you're pretty good at happy hours and so forth. Will you be a throne next week?
One more shout out for throne. Good.
[00:54:27] Speaker C: Yeah, get drunk and then talk about numbers. I like.
[00:54:30] Speaker D: Oh, that's good. That's what our listening audience wants to hear. If you want to see, I've never seen you have more than two beers there. That's funny. I've never seen it yet. Four years. I've never seen you have more than two beers.
[00:54:40] Speaker C: That's true. That's all for today's show. If you like what you're. You have questions about anything, reach out to us team at another moneyshow.com find us on the web anothermoneyshow.com book appointments with us straight from the website or give us a call 623-523-0444. The number again is 623-523-0444. And you know Macy's still on vacation, she's slacking. So you know, it's just us in the office. So we're taking a little bit longer to get back to people. But we are available and we will be there for you.
Anyways, we'll see you again next Saturday at 5am and noon right here on 960 the Patriot.
[00:55:21] Speaker B: 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, BCI, 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.
[00:55:59] Speaker A: Any bonuses mentioned may be subject to additional restrictions and regulations based on the offering Annuity company. You may not receive the bonuses if the contract is fully surrendered or or if traditional annuitization payments are taken, and if the policy is partially surrendered, it could result in a partial loss of bonuses. Because these are bonus annuities, they may include higher surrender charges, longer surrender charge periods, lower caps, higher spreads, or other restrictions that are not included. In similar annuities that don't offer a bonus feature.
