[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: On today's episode, Jerome Powell drops rates. I read some notes I made. J.R. complains about something and Sam plays Bingo welcome to another money show where your host Anthony Crayo and J.R. 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 to bring you news that you may not hear on those other financial radio shows. We're aware the last thing you need is another money show, but we appreciate you being here.
[00:01:17] Speaker D: That was the best, most spicy intro I've heard you do in a long time. Usually when you forget what you're saying you stray a little bit. But that was actually different today. So I like that.
And we're going to talk about abt. I know you know that Sam, so cross that off the bingo sheet right away because we're going to follow up on that. But Anthony, way to go.
I want to get us back on track because you threw everything off. I want to start out with our shout outs.
I got one main one, actually I got two.
I brought up Michael C. From Sun City last week and I said it was in a somber way because he had a family member that we went to a celebration of life for. And but this week I want to get back to the upbeat Michael C in Sun City. Shout out.
He is back on track. I got four or five articles from Michael C just yesterday and two more this morning.
So his articles yesterday, I'll be honest, I didn't read them yet. I've been slammed and they were about Trump's visit to China, South Korea. I think he was even going to try to go to North Korea. And you know what? To me right now, blah blah blah. So I will read them because I'm sure they're interesting or you wouldn't have said them.
But I just, I don't care. I mean his world tour, we have such problems at Home.
So, president, Commander in chief. I slammed the old president when they were traveling. I'm gonna slam you, too. You need to be here right now. We have major, major problems in this country. We need to deal with them. So anyway, and I guess he was. You know, the people that are the 100 defenders are gonna say he was there to make sure we sell soybeans. He was there to make sure we get rare earth minerals. And I. I get all that.
I just. I don't know.
I'll jump right to one of my stories for later. Sam, I bet you don't know about this one.
We are in the process of activating the national guard in all 50 states. Now, I had brought that up two or three episodes ago. I said, you know, you people that are, you know, intervening with ice raids and so forth, be careful for what you wish for. You didn't want the national guard in D.C. would turn out pretty well, by the way. From what I've read.
You didn't want them in Chicago. You didn't want them in Portland. Well. And I said, keep doing that fafo thing, keep doing that fool around and find out thing, and you're gonna get martial law. Guess what? We are, as of yesterday, activating the guard in all 50 states. It's called a quick reaction.
Do I support it?
[00:03:36] Speaker C: This is okay. You think everything is so terrible that we're.
[00:03:39] Speaker D: I want National Guardian, Glendale, Arizona, mostly surrounding your home because I think we're a domestic terrorist.
[00:03:45] Speaker C: Oh, good. Good, good, good. Yeah.
I shouldn't interrupt it. I should have let you know.
[00:03:51] Speaker D: You should. You've been interrupt. You've been interjecting. Interrupting, whatever you want to call it lately, and that's really a good thing. Our show needs to.
[00:03:56] Speaker C: Evan's going to stick up for you and all of this, too, but I just. It's absolutely insane. Like, you think if Biden did this or Obama did this, you would say this with a smile on your face, that we're just releasing the national guard and all 50 states.
[00:04:08] Speaker D: You're really going to compare this to Biden? We're going to talk about. You want to go auto pen? You want to. Well, come on. Anyway, Biden, if you're still alive or whatever.
[00:04:18] Speaker C: If Biden gives a shit about auto pen. Trump uses auto pen. They all use auto pen.
[00:04:24] Speaker D: No, they. Not like. No. We don't think Biden ever signed anything. You know what? Keep your head in the sand, Anthony. Keep being so naive.
[00:04:31] Speaker C: I'm the naive one. You think it's okay for the National Guard to be released in all 50 states. That's absolutely insane.
[00:04:38] Speaker D: It's not insane at all. It's quick reaction teams in case there's unrest. And yes, I'm 100% going to support it. I only because there's we. It's like the calm before the storm. It has been for years.
Last week when I thought. And that was one of my favorite shows yet. I know you don't listen to the show. There's another difference between me and you. I listen to it every week. I mean, I even try to listen to all the commercials. Lisa sends me a schedule every single night. Lisa, I don't know if you listen to, you know, our own show, ours and yours, but if you do, thank you for keeping me in the loop on the commercials. I even, I set my schedule to make sure I'm supporting this show. Anyway, back to my shout out after you did get me off track and with the National Guard. We'll see. I mean, do, do I like government overreach? I mean, I've always said I'm a small government person. I also.
[00:05:27] Speaker C: Trump is involved.
[00:05:28] Speaker D: Oh, come on, stop that. I really, you know what the. If you really want to go down the political side, I guess I'm going to say you're right to a certain extent. One side of the aisle is law and order, one side is not. You're going to tell me when the summer of love was here. You're going to tell me, like Portland, Oregon, when they literally, you know, decided to block the streets in a free country. You're going to tell me that wasn't political? Was that really over George Floyd? Was that really racial or did it get.
[00:05:54] Speaker C: And what year did that happen in? Right.
[00:05:55] Speaker D: 2020. In the summer of 2020. Some research, Anthony.
[00:05:59] Speaker C: Who was president in 20?
[00:06:01] Speaker D: I have no idea.
[00:06:02] Speaker C: The National Guard to.
[00:06:04] Speaker D: Oh, and you're saying you wouldn't release the National Guard when there's unrest in the streets? What would you do, Anthony? Just let it grow.
[00:06:09] Speaker C: That makes sense. That would have made sense. But that's not what happened, is it? But now that there isn't unrest in all of these streets and things are.
[00:06:17] Speaker D: Fine now, how on earth are you saying there's, there's, there's unrest in pockets all over the place. I see videos every day. I mean, mostly concentrated, though.
[00:06:25] Speaker C: I'm out and about all of the time. It's fine out there.
[00:06:28] Speaker D: You're in Glendale, Arizona and Sun City, Arizona. And once in a while you creep your little butt down to Phoenix, Arizona. You are not in Chicago, St. Louis, Minneapolis, you are not in the cities where the videos are taking place. My fear, the reason I'm glad that the READY teams are our standby. My fear is that if it came to Phoenix, if it branches out to.
[00:06:50] Speaker C: All 50 states, do we have local law enforcement? Do we not have.
[00:06:54] Speaker D: Oh, okay, Anthony, who's our police chief? Tell me who the police chief in Phoenix. You don't know. Local law enforcement is beholden to certain things.
If you. I know you're very unwell versed with the political structure of this country. I know that for a fact. I know that I am not. And I know that I've looked into different things like the politicization of the police forces.
I mean, don't go down about the.
[00:07:17] Speaker C: Militarization of police forces.
[00:07:20] Speaker D: What about it? I'm saying bring it on because that's the level we're gonna get to. If we don't. I'm telling you, the end of our 10 pillars, the end of our reason to be on the show ends up with civil war. That's what this man in office is trying to prevent. He's not trying to bring it on.
So. And did you say you're gonna let me go now and get back on track on the show or did you want to keep. Cause this really, I mean this, this isn't what I meant to talk about today, quite frankly. We have so much to get to, as usual. I remember when I used to say to Sam when we were a six hour show each week, I can't cram it into an hour. I mean, I kind of. I don't even know if I'll get to any of my articles today because I have so much from last week to continue and then new stuff in the past week and last week when I got on you a little bit and you got on me and you know, what's the term for somebody who's always wrong? Junior, you know what? My job is to sound alarms on this show. If somebody wants financial planning, come in the office. We've made it available, we've made it at no cost to you. It's not just the first five callers. We'll take you even if you're number six. It's not just that you have to have a half million or 200,000. I mean, I.
But on this show, we took this on to sound alarms. This show is for entertainment purposes. This show is for entertainment first and foremost. Second, that education.
This show is about the future and how it's likely to affect your finances. When I met you Anthony, we had under 20 trillion in debt. Not when I met you, when you started the office. When I met you, you were 10 or 11. Way less than that, man. We had less than that. Yes, by.
You don't see it. And I get that. You are all of us. Every single person I've ever met and everybody I've never met suffers from normalcy, bias. From one extent to another, from one level to another. You have it bad and you have it worse every day because you always have to buck me.
You have to basically prove me wrong. And what's so funny is we're not going to know if you're right or I'm right until things play out. We're going to see. We're going to look back and see. I have worried that when you're my age, you are not going to get Medicare, Medicaid, Social Security in the form you are now. You are not going to have the same lifestyle that you would have if you were in your 60s today. That's my fear. I'm old. I mean, look at me. Anybody that's met me knows. I mean, how on earth I'm still alive is just a miracle, I hear. So I make jokes about stroking out or heart attack on the show.
I guess I better incorporate that again, especially when you get my blood boiling. So look at me. I mean, I am walking dead. Tomorrow's Halloween, by the way. I am the walking dead dead. So I'm not going to be about.
[00:09:56] Speaker C: Six trillion when I met you.
[00:09:59] Speaker D: Six trillion. I do the show for my four boys, Nick, Jay, Anthony and Sam. And if this show keeps going the way it is today, I'm gonna have three boys. I'm gonna have Nick, Jay and Sam.
[00:10:10] Speaker C: Because I have one daughter.
Accept me for who I am.
[00:10:15] Speaker D: I don't judge. I don't care who you are. So anyway, can you let me go for a second? Now, are you done amusing yourself or is this just good radio? We need to just bicker today. All show anyway.
And I, and I generally, I usually get some good comments. I need to start sending them to you. Sometimes it's almost like I don't want to hurt your feelings. I even care about you in between shows. But it's like I should send you because I believe most people are on side. Junior. They're like, get him. He doesn't know what he's talking about. Somebody commented on the fact that I said you listen to comedians and listen to music while I scour for news. They're like, so you're on totally different Levels of what you're exposed to. Yes, we are. And you've made the point that we didn't have, you know, 24 hour news cycles in the Internet, you know, years ago. We have always had problems. I'm going to stick to my guns and say we've never had this many at once. And it's, I mean, for Pete's sake, do you realize yesterday I'm skipping around here like a maniac.
We're testing our nuclear capabilities again. As of yesterday, Russia has been testing their nuclear capabilities. We met with China this week. Oddly enough, yesterday we started testing our nuclear capabilities again. Do you know what that means?
They're not going to do that just for the heck of it. It means that we are in unchartered territory on so many fronts. And by the way, 38 trillion, we deal in teas now, it's no longer billions with a B, now it's trillions. We're getting like it doesn't matter. It's just a number. It's a number we can't fathom. So who cares? I'm telling you, nobody cares until it tips. And then we're all going to care and then it's going to be too late and then we're going to have a central bank, digital currency, stock market's going to absolutely get gutted. The housing market's going to freeze worse than is now. It's going to be kind of chaotic for a while. Do I think the country's done? I do not. Do I think there's going to be some pain before we push that reset button? And I believe a lot of powerful fingers are over that button right now. So shout out to Michael C. Thank you for getting back in the saddle and sending us articles because I appreciate it. We are going to take the time to get to one you sent this morning. We don't have a lot of information on it yet, but I did read the two articles you sent me and they're very hollow and I'll tell you why. But anyway, so Michael Z, we do appreciate you. Another shout out. We met yesterday with a couple from Illinois and I bring this up on purpose because A, they're wonderful people, known them for a long time. B, if you're out of state and you hear us on podcasts, if you're in the military, we get licensed in the states that you reside. So we, I don't know, we're in what, New Mexico? We're in a bunch of states. So if we can help you, even if you're not in the Phoenix area, we'll be honored.
I bring that up. And we're helping them all the way around.
[00:12:54] Speaker C: Washington, Colorado, Illinois.
[00:12:57] Speaker D: You don't need to listen. Nobody cares. Nobody cares.
[00:12:59] Speaker C: Oh, you're right. Nobody cares.
[00:13:00] Speaker D: Okay, so they don't care what state you're in. They care what state they're in. And they care that you can get a license if you're in their state.
But what we doing, patting yourself on the back? Oh, look at me. I'm licensed in different states. Nobody cares.
[00:13:10] Speaker C: I just wanted to name off all the states where future civil wars are being prevented.
[00:13:15] Speaker D: All 50. Name off everyone.
And yeah, Sam, watching Alaska and Hawaii. Yeah. Hell yeah. Heck yes. They're gonna get the National Guard too. We're gonna have Eskimo Guard. We're gonna have you're. We're gonna have Fire Dancing Garden, Hawaii, but we're gonna have guardians.
So.
Got to the shout outs. Tomorrow's Halloween. Did I mention that we had a little conversation with Macy in the office yesterday about the expensive nature of Halloween candy this year? She said she went to buy this bag of Reese's Peanut Butter Cups. You know, I mean, a bag like the kind you take home and give away for, you know, you're not the cheap people that just buy the Smarties. You buy a big bag of Reese's. She said it was $15 a bag. So I thought about that. I'm like, wow. So if you have to get 10 bags or whatever.
And yes, I realize Macy lives in Sun City, Arizona, but they do reverse trick or treating. They buy a bunch of candy and they go around the neighborhood giving candy to people.
I mean, I. My first thought was, that's kind of creepy. I don't want somebody coming to my door. Give me candy. And then I thought, it's Sun City. These are a trusting bunch. And this is a good bunch of people that are going to do it. And I think that's really cool. Anyway, so what's. What's.
[00:14:25] Speaker C: What Was that a joke or is that really. They do that?
[00:14:27] Speaker D: No, no, they. That's what. That's what they do. That's what Macy and her family and her friends do. Yeah, no, they really do that. And if you. If you're like in Peoria or Glendale or whatever and you're giving away candy, I'm guessing you notice the inflation has hit the Halloween candy. So I have a solution. I don't. We don't want to just bring you problems without solutions. So if it seems like Halloween candy is expensive, follow my lead here. I went yesterday after a conversation to a Taco Bell. One of the ones I know still keeps the sauce packets out. And I took a to go bag and I filled it with sauce packets. So if you come to my house this year, you're going to get to choose if you want mild or hot or fire or diablo. So just keep in mind, who doesn't like Taco Bell? Taco Bell, not Taco Bell. I don't think anybody likes those who doesn't like Taco Bell sauce. So come to my house. That's what you have to look forward to. I cannot afford Reese's peanut butter cups. Speaking of taco, I'm jumping around again. Anthony, Sam, you probably have never heard this, I'm guessing, but I know you're not big, huge meme guys like I am. Have you ever seen the meme with. With Trump and they put him as a taco. Does that ring a bell to either of you?
[00:15:36] Speaker C: Oh, is it Trump's always. What's it stood for? Something. Right?
[00:15:41] Speaker D: It does. Look at that. So Sam shaking his head no. Anthony is on current events with me for a change. Yes, it stands for Trump always chickens out.
And I will use that to segue. I went from Taco sauce to Taco ball to Taco sauce to Trump. Boys Chicken South. This is the Segway genius of today's show is commendable. Right, Sam? Can we get a raise? Can we get some sort of a pay raise? Oh, wait, you don't pay us, we pay you, right? I mean, hopefully you're getting paid for this steaming pile of radio show that we bring to people every week. I'm just kidding. This is my favorite radio show. I did.
Kevin. One of our loyal listeners named Kevin asked me to listen to a radio show. I will not say the name because I don't want to keep saying the word allegedly. I don't want to. I don't want to get sued. But he asked me to listen to a radio show. So I did last week. All, all hour. It's a two hour long show, but I heard one hour of it. And I will tell you what, it's just like all the other shows. So I'll give you the summary of my feedback and then I'll get on to the taco story. So the summary. And Kevin and I already discussed this at length on Saturday. We continued on Sunday discussing it. I was kind of bothered. Kevin likes the show and I see why he likes it because it's financial, it gives good information. But this was one of the heavier Infomercials. This was exactly why I don't want to do a radio show about money. This is exactly why I love our passion and our ridiculousness and our bickering. Because this show, it wasn't boring. My heartburn with a lot of financial shows, they're dry. They, they're boring. They do say the same exact thing week after week and they're full of crap. So this one was not dry and boring. It was actually good. It was fast paced, it had some good information sprinkled in. But this guy kept saying that the radio show is for everyone, but in order to make an appointment with us, you need to have a half a million dollars investable assets or more.
And I thought about that.
Good for him.
Wonderful. I'm sure he has a, I'm guessing he has a boat. I'm sure he does pretty well. If our target market started at a half a million started. You can't see me unless you have $500,000 to investment or more. That means the sweet spot is going to be a million at least. So. And I know more about the history of this show, I know more about who started the show. So that, that is the case. I mean one of the people that used to do the radio show was, it was a million dollar to see that person. And it's genius marketing our whole thing as a fourth generation, fully independent family practice. We want to help people. We haven't made our life to make our life padded. And am I saying these people are horrible people and they, they don't want to help people? I'm not saying that. I'm just saying if you won't see somebody that doesn't have at least a half a million, come on, you're really not just out there to help people. You're out there to help people that can help you. That's how I see it. And the show was good. I mean it was, you know, basically it was very much geared towards the top 10% of our nation. I wouldn't say it was geared for the 1%, the ultra, ultra wealthy per se, but it certainly wasn't meant for 90% of us. I know that. And you know, I mean, one of the things, a good thing about life, there's different people.
If you find a good fit to be somebody that, that cares about you because you've made it, you have a bunch of money, they might be outstanding. I mean, he was very market. It was all about ETFs. I didn't hear anything about lifetime income planning and some of the Stuff that is our passion. So hopefully that's going on behind the scenes because I can tell you what, with a 16 year run up in the markets, you better brace yourself for a correction. I'm sorry, Anthony, it can't go forever. I'm going to say to you right now, life cycles. If you're having a really good today day today, don't get too cocky because tomorrow might suck. If you're having a real bad day today, hang in there, tomorrow should be better. The stock market has for all practical purposes had a 16 year run up in it and something is going to give, I think 10 things are going to give it once. I think the longer this goes, the more things are going to give. Anyway, back to the taco if I may. So Trump, I heard this morning, I heard just this morning that Trump is looking for money to salvage Saturday's big EBT SNAP program ending. We said you last week, we even said if this does get bad, if people start freaking out and stealing stuff or whatever, we, you know, we recommend you do your shopping during the day. You know, if it's normally like in my house, Sandy goes, she doesn't let me go with her because a lot more winds up in the cart. I know why I'm not invited to do the shopping. If I see something I want, I just put it in the cart. So, but I, you know, if Sandy goes shopping and things are weird, I'll go with her. I mean I, so I don't know, you know, act accordingly. If things are weird, they're probably not going to be. Anthony's going to be right again and JR 99% of the time is going to be wrong. But it was certainly looking like this past week. There's tons of TikTok videos out of people very, very angry with Orange Man Bad. And they're, they're basically saying I'll get my food one way or another so I'll get however I can.
I find it odd, just a sideline to the whole snap thing.
42 to 43 million people are on this program. There's also other benefits in this country. There's also different forms of Welfare. There's Section 8, there's WIC, there's these different things. So if you're on one, you're probably on multiple. And I have a question for you. When you hear 42 trillion, 42 trillion, that's what's coming. When you hear 42 million, has it occurred to you that it's, it's about one in eight, what happened to this country where one out of every eight people are on food assistance programs. And you know where I'm going next? You to do.
How on earth do we have money for Ukraine? Billions upon billions. If one out of eight people don't have enough food in this country, it's. We need to take care of ourselves first. You know, we're in a. Oh, I forgot to bring up. Today's day 30. Halloween is day 31 of the. Of the month and day 31 of the shutdown. We gave, I heard 40 billion with a B to Argentina.
Right. We just gave Argentina money, I think last week. If you're in a government shutdown.
So we don't have money to operate our government. We have to shut down our national parks, but we have enough money to give to Argentina.
Okay, Okay. I mean, I'm not in the government. I don't understand. I don't even need to know. Not on a need to know basis, but. Holy crap. So anyway, so Taco Under. I hear that he's going to come up with money on Saturday. The states. The states are going to come up with money. I know our state of Arizona. We have a governor named Katie Hobbs. And I did some poking to see what she's going to do with a big shutdown because people are going to look to her and I. It didn't take long to find it. Katie Hobbs is going to do.
Here's from ABC15. Governor Katie Hobbs announced a 1.8 million in ARPA funds that will go toward Arizona's food banks and a. A new fresh food program to fill gaps for SNAP households seeking food.
So I looked at what ARPA is.
Let's see here. I'm proud to deliver this much needed relief to families who are worried. Yeah, Great. Okay.
She recognizes it falls short of the 150 million in food assistance the federal government delivers to Arizonans every month. 1.8 million.
And you're going to try to bridge the gap between 150amonth. Okay. Good luck. I had to look up what the ARPA was because I wasn't familiar. So I did. It's the American Rescue Plan act. Provides guidelines for the use of state and local fiscal recovery funds, which includes supporting public health, economic recovery, and maintaining essential services. Funds must be obligated by the end of 202024 and spent by the end of 2026. So this was another one of those ridiculous spending packages that our government did. We got to take a break. I realize it's time. I want to finish up with food snaps and ARPA and all this stuff right after the break. But thank you so much for being here with us on the day before Halloween. The only thing scarier than Halloween is going to be today's show just to warn you. So thank you for being with us. We would love to sit down with you, be a second opinion.
Reach out to us at 623-523-0444 or email us at teamothermoneyshow.com and we look forward to meeting you. So and check out our YouTube short our YouTube shorts. Check out our shorts. Check out our YouTube channel. We need your help. We got like 633 subscribers right now. So today we're our big push is to get to 634, but we do have 380,000 views on our videos. We'll be right back. Thanks for being here.
[00:24:50] Speaker B: All of Junior and Anthony's listeners receive a free consultation just for listening to the show. Visit another money show.com@rochford and Associates we know you've worked hard to earn your money and you've worked even harder to save it. When it comes to wealth management and Planning for retirement, J.R. rochford and his team of specialists have been helping individuals, families and business owners find financial freedom at their veteran owned firm for more than 25 years. Rochford and Associates also helps Americans like you with their insurance needs and estate planning so you can be protected from life's uncertainties with a comprehensive retirement plan. Let us help you protect and grow what you've worked so hard for. Take the next step toward financial freedom now by scheduling your free no obligation consultation so JR and his team can come to understand you and your family's specific needs, concerns and financial goals. Give us a call now at 623-523-0444. That's 623-52-30444. Rochford & Associates Lasting solutions for your family, your future, your life.
[00:26:13] Speaker A: Do you want a steady stream of income for retirement? Then it's time to consider annuities. I'm Matt McClure with the Retirement Radio Network, powered by Amerilife. Gone are the days when most employers offered pensions with guaranteed lifetime payouts to their workers. But what if I told you that you can build your own personal pension? It's possible with an annuity. An annuity is a financial product that provides a series of regular payments to an individual over a specified period of time, often for the rest of their life.
[00:26:42] Speaker D: There are several options for you to consider when choosing an annuity. Be confident in knowing that there is an annuity out there that can meet all of your needs.
[00:26:50] Speaker A: Ford Stokes is founder and president of Active Wealth Management and author of the book Annuity360. There are several different types of annuities including fixed variable and fixed indexed.
[00:27:00] Speaker D: A fixed annuity offers a specific guaranteed interest rate on their contributions to the account. A fixed index annuity is an accumulation based product offered by an insurance company. The growth of your fixed indexed annuity is dependent on the performance of a chosen stock market index. But your money is not actually invested in this index. This offers you great growth potential and exceptional protection for your investment.
[00:27:25] Speaker A: While each can provide tax deferred growth and a lifetime income stream, variable annuities put your principal at risk in the market.
[00:27:32] Speaker D: If you are currently investing in a variable annuity, your funds could be in stock serious trouble if the market experience any downturns.
[00:27:39] Speaker A: With so many possible choices to consider, it's essential you speak to a financial advisor or professional to help you make the best decision for your future.
So are you ready to consider an annuity as part of your retirement plan? It's a key question to consider as you approach what should be your golden years with the retirement Radio network powered by AmericanLife. I'm Matt McClure.
[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: Welcome back to another Money Show. Thank you so much for being with us. As you know, we're a little tiny fish in a big huge pond and we value your support. We need your help. We want to meet you. I mean I say it all the time. We want to help you. One person, one couple, one family at a time. So we are, we have appointments open.
So. And the good news, not just for the first five of you, we are willing to take six of you today. So give us a call, 623-523-0444 or email
[email protected] it is Medicare Open enrollment period. I've had people this last couple weeks ask me if we, if we do that. We do not. We focus on money management, income planning, Social Security planning, generational wealth transfer, Roth conversions. We, we, we focus on our area.
So we have partnerships with several people.
We have one that I'm getting to know this guy really well. He'll know who I'm talking about if he's listening.
I asked if he wanted to come on the show and talk about Medicare and open enrollment. He said no. He said that it's very sticky because you have to be careful what you say. Things have to be recorded when they talk to clients. There are a lot of rules. So he said, but he'd be honored if we gave out his name. So I got a little stack of his business cards a couple days ago, so I'll do that.
So moving on.
It is a neighbor of Macy's. It's a neighbor on her street. Known him for a couple years.
[00:29:32] Speaker C: I like him.
[00:29:33] Speaker D: Yes, that's the guy. And I've known him for a few years. Very gentle man. I can see where he'd be really good at this because you want somebody that cares about you. He wants to be honest. He checks all the boxes. He's kind of like Rochford and Associates for financial planning. He's. He's a good guy. So we're gonna start giving out his name a little bit more.
I want to finish up the food SNAP EBT thing, and then I want to get on to a couple things. I'm. I got a FRANT weekly talk today because we have items to check off of Sam's bingo card, and I don't want to miss any. So finishing up. I think this is a really good time. You know, we all know that the, The SNAP program, it's supposed to be a safety net, not a lifestyle. It's not supposed to be generational.
You're. If you can work, you're supposed to work. I know that there's fraud in this system. We need Elon Musk. We need to doge this thing. Elon, you need to come in. One of the easiest ways to do this, and I'm not smart at all, let alone comparing myself to Elon freaking Musk. Neural link level. Musk. But I can tell you something. Let me tell you how to fix SNAP program to a certain extent, immediately when we come back from the shutdown, when Trump caves and finds money, because he's going to chicken out and not let unrest get here and have the National Guard have something to do. So when we come back and we. We offer up the money every week, every month, whatever, however it comes out, Sam said, is he going to have starvelink instead of neuralink? We're going to starve Link. The only way you're going to be able to use your car, we're going to have social credit scores all based on food. All right, so back to. That was pretty good, Sam. That was not on my bingo card, let me say that. But that's pretty good. So let me tell you how to solve SNAP to a certain Extent right away. This is going to get rid of a lot of the fraud anyway.
You are going to be able to. When. When I'm in charge of snap, you are going to be able to buy peanut butter, bread, milk, meat, fish, vegetables, fruit. You are not going to be able to buy Dr. Pepper M&Ms. You are not going to be able to take it to Jack in the Box. You are not going to be able to buy crap. So I'm sorry, you know. Oh, now you get to be in charge of people's diet. Go ahead, Anthony, get on me. You know, you're in charge of what? Yes, yes.
[00:31:46] Speaker C: Yeah, like that. You think that's what's going to save the program and that's the big.
[00:31:50] Speaker D: It's going to help. I didn't say save it. I said it's going to help to a certain level.
[00:31:54] Speaker C: So they just can't spend the money in certain causes. That doesn't change the fact that they don't have money for.
[00:32:01] Speaker D: Do you think we've enabled people, Anthony? Are you really. Do you really think that that program is. Is warranted to the level of one out of eight people are on it? Do you really not think that people are teaching?
[00:32:11] Speaker C: What do you think that says about our country? That one in eight people says it's.
[00:32:14] Speaker D: All broken, we need to fix it? It's like a toast.
[00:32:17] Speaker C: Yeah. So you're, you're blaming the victims, is that it? So the people that are working.
[00:32:21] Speaker D: To a certain extent, yes. I'm going to blame the victim. The victims, Anthony, if you're going to jack in the box with your EBT card, you're going to call yourself a victim. Have you seen some of the videos?
[00:32:29] Speaker C: Know that they all are. Just because it's offline. You're just making a very.
[00:32:33] Speaker D: Stop trying to make this black and white. It's gray and you know it. And you're too smart for this. Am I saying every one's a fraud? No, I'm, I am telling.
[00:32:40] Speaker C: You're alluding to it, though.
[00:32:42] Speaker D: That's alluding to anything. What I'm saying is if you are allowed to go to cvs, for example, and use your SNAP benefits on the candy aisle 100%, you are scamming the system. Once you get to have staples of the diet, you know, during the Great Depression, before we had Reese's Peanut Bear cups, they had, you know, soup lines. There was government cheese there. There was things that they could help you with. It wasn't candy. And you know, what do I think? Everybody scammed the System. I do not. People need help. I get that some people, like in Sun City, that just have Social Security and they're not getting by, they are going to need help for the rest of their lives. But I've seen scores of videos over the last week of these people that are angry about the potential shutdown on Saturday, November 1st. And it's like part of what's so funny to me. And yes, I'm going to make fun of people, including myself, that have this condition. These people are fat. I don't want to say obese because that sounds like a medical term. You know, if you're on camera talking about how the snap's going to shut down, you're going to steal food or wait outside a grocery store and take it from people's carts, you better be thin. You better not be fat, because I'm going to make fun of you. And Anthony, stop.
[00:33:50] Speaker C: That's kind of fun, but I get it. I get that one right.
[00:33:53] Speaker D: And I'll send you another. You know, here we go again. I'll send you 10 videos that you'll only watch three, and then you'll send me back a. A Reddit video. But no, it's. There's a lot of fraud, waste, and abuse in snap, just like there is in the entire government. And I would say now's a good time to start cleaning up this country on so many levels. If it takes the National Guard, yep, I'm behind it. Do, do I want a free country? Yep. I do it. We're going the wrong direction. And when things reset, I want it to be as orderly as possible. I would rather you, Nick, Jay, Sam. I'd rather my four boys don't have to take up arms and go into the streets. So let the National Guard do it. At least they're somewhat trained and they're being paid to give you. What do you think the object, Anthony, is of the National Guard? You are in the military. When I was in a class, when I first got to Luke Air Force Base, my first permanent assignment, one of the classes was about military. It was like, you know, you went through basic training. That's great. You got up early and did push ups, you know, I went through basic training twice, by the way. Remind me to tell you that story one day. Then you went to technical school and you learned, you know, the technicalities of your job. Then you get to your assignment and you may forget. You may be a security guard, you may be a cook, you may be on the flight line, you know, taking care of airplanes and Foreign object damage from the Runway. You know what you have to remember?
Your job is to die. Your job is to kill or be killed. No matter what your MOS is, no matter what your AFSC is, remember that you're in the military. Your job is to fight and die. So this National Guard thing, I'm just trying to keep their livelihood going.
No need for the military if there's no need to have scraps anyway, so the SNAP thing, I'm just. It's a good time to clean the rules, and I think we should. I got to get away from the snap because there's so much going on. I want to get to. I want to get to. Sam, I think this is on your bingo card, so I'm gonna throw it out, but I don't want to talk about it. That's probably not fair, huh? I want to check off items on your card, but I don't want to dig into them. There's seven suspect in custody as of this morning from the big Louvre heist.
So the follow up that I read this morning was seven people around. How many were there? I mean, did they get enough, you know, jewels and tiaras and all this stuff to split amongst a big army of people? Anyway, so follow up, seven people in custody.
[00:36:09] Speaker C: Can't wait for that movie to come out.
[00:36:11] Speaker D: Is there. Is that really a thing? Is that coming?
[00:36:14] Speaker C: No.
[00:36:15] Speaker D: Okay. Fast and Furious 93, Halloween.
[00:36:18] Speaker C: That is a thing, though. That's definitely coming.
[00:36:20] Speaker D: Probably.
[00:36:21] Speaker C: I can only hope. See, really, the only thing that could bring America together again is we need family. Like in the Fast and Furious movies.
[00:36:29] Speaker D: I've seen a few. I've seen some of that just overlooking jays and some of it. And believe me, it's. It's addictive. I mean, I can see how you get hooked on that, but a little bit of it's a little diesel.
[00:36:39] Speaker C: Talks about family in every single movie. And then all of a sudden you find out he has a brother that they've never talked about in, like the ninth movie. Like, don't tell me how family is so important when you have a brother that nobody knows about in this series.
It's got some flaws. It's got some flaws, but what?
[00:36:56] Speaker D: Family's all a croc. Look at how you treat me. Look how you treat me in the show.
[00:37:01] Speaker C: Cannot wait to put you in a home.
[00:37:06] Speaker D: Note to self sell everything you own quickly before death. Sam said Tokyo Drift is a classic. It is, though.
[00:37:16] Speaker C: The third is the best movie for sure. Just like the Scream franchise, which is really funny because the first Is obviously the best because it's a classic, just like in Fast and Furious. The first is the best because it's classic. But technically the best Movie is the third. Scream 3. Tokyo Drift, huh? They're very similar. They need to bring a crossover episode together. That'd make me happy.
[00:37:39] Speaker D: Very interesting. I'll have to put in notes, sell everything I own, and watch three of Scream and the Fast series.
Let's see what could be on Sam's card. Another Venezuelan drug boat was blown up this week. I guess 14 more dead people in the waters off of Venezuela. The Fed's lower interest rate, that's probably way less important because who gives a crap? Another quarter of a point. They're gonna do it again in December. Yeah, I get it. You know, Fed, why are we raising.
[00:38:05] Speaker C: Why are we lowering inflation? Hasn't gone away. Are we just lowering it for P is the overpriced stock market which is hitting all time highs again. Is that what we're doing?
[00:38:14] Speaker D: Correct. And by the way, there's pros and cons. Everything. You know, every coin has two sides. The people that have massive amounts of credit card debt, people that have mortgages, people that have been held captive and they want to move. Finally, they. They're looking forward to lower interest rates.
[00:38:28] Speaker C: Lower interest rates? You need low interest rates for cheap credit. Cheap credit means you're buying things you can't afford. That's what lower interest rates are for.
[00:38:40] Speaker D: And speaking of which, guess what else is coming up? They're going to turn on the printing press again. They're saying that they're. They're stopping the quantitative tightening. And you know what follows that?
[00:38:49] Speaker C: Quantitative easing.
[00:38:50] Speaker D: Quantitative easing, yes. Fired up, Sam says. Fired up. Make that thing go all lowering rates.
[00:38:55] Speaker C: Oh, that makes sense.
Let's increase the money supply, which increases inflation while we're lowering rates. Awesome.
[00:39:03] Speaker D: Oh, boy.
[00:39:03] Speaker C: You're gonna have infinite money. Infinite money keeps the market up.
[00:39:07] Speaker D: The bigger they are, the harder they fall. I noticed yesterday that the market went up as soon as. What's his name? Jerome. As soon as Big Jer said that they're gonna lower rates. And then they said he got less dovish. And he said, by no means are we out of the woods or something. Like, we may have to get tough on this. And then the market went down. So funny. And also I read yesterday 80% of the S and P was down.
Think about that for a second. You know, we're always saying that, you know, 10 companies have floated the S and P. It was kind of a bad day. So anyway, let's, let's move on because who cares? Yeah, inflation's problematic. You know, they went from no inflation, then they went to transitory inflation, then they said we're going to get to a target inflation rate of 2%. Now they're lowering rates and they're fine with it at 3%. And it doesn't even have food and energy in it. So if you're buying your Reese's Peanut Butter Cups, screw you, inflation be damned, we're going to lower rates. And by the way, we're in Sun City, so we have people on a true fixed income. Most of the radio show hosts won't see you. We will if we can help you with budgeting or paying down debt or buying hard assets or anything that doesn't even involve us making a commission. We're here for you. Just keep that in mind. So anyway, let's move on. I want to talk for something, a current event that, that last week in our furiously Fast and Furious episode of last week, we, we, we brought a. You said that I probably haven't watched a baseball game in 10 years. And you were right. You were correct. Don't give a hoot about baseball. Don't care at all. America's pastime. And I can't pronounce any of the names. They had to have a translator for Ohtani or whatever his name is. The pitcher of the Dodgers. They interviewed him after the game that.
[00:40:49] Speaker C: They want baseball player to everlift.
[00:40:50] Speaker D: Yes, okay. The greatest baseball player that ever cannot speak English. It was hilarious. There was a Japanese or whatever he is translator. And I was like, America's pastime. Chevrolet apple pie. Baseball.
[00:41:02] Speaker C: United citizen.
[00:41:03] Speaker D: Now I have no idea. I didn't check his American.
I didn't check his status. Anthony, I'm not born in fan, but I don't know.
Anyway, I thought it was funny. But let me get to my point of the story. So I haven't watched a baseball game in I don't know how long and I decide like a genius to pick Monday to watch a baseball game. I thought Monday night. You know, I don't have as much going on early Tuesday morning. So no, no big deal. And this game went 18 innings. It was almost seven hours long. So the first game I've probably watched in decade my butt probably been 20 years. I don't think I've watched a baseball game other than a few minutes here and there in the time I've been in this job. So we're looking over 30 years. Anyway, so I just thought you'd like to know I watched the baseball game, but I picked the wrong one. Didn't go bed, go to bed till after midnight.
[00:41:52] Speaker C: You watched two baseball games, that's pretty American.
[00:41:55] Speaker D: So now I've watched one every 10 or 15 years. Anyway, my observation of baseball, I mean, I guess you can get hooked on it because I couldn't wait to see if the inning was going to end next, especially when you're in extra innings. But the biggest observation I have, I have never seen human beings in my life that can non stop for seven hours spit.
I just, they cut the camera away from players a lot because the spitting was very excessive in the dugout, on the pitcher's mound, all in the outfield. I was surprised all the fans didn't stand up and start spitting on each other. It was incredible. And I don't know why I noticed that, but you know, with my ADD and OCD and all this stuff, I, I just thought it was funny.
So if you want to catch a game. Apparently the Blue Jays are up three games to two Friday night. If you're not out trick or treating, you can catch game six.
[00:42:48] Speaker C: So we already congratulate the Toronto Blue Jays on being the World Series champions. Then.
[00:42:55] Speaker D: You know, we all know the mafia and we know that sports betting and all that. So I mean I'm hoping that they, they LA wins on Friday and then they go to game seven. Let's squeeze out every penny we can get from the TV rights and the commercials and the, the attendance. It was pretty full, you know, for a seven hour game. Those stands did not empty out like I would have thought they would.
So. Yeah, so that's, that's what's going on. I watch baseball. That's great.
Something else, there was a, another. Remember when I talked about the cloud? Every cloud, you know when I put all my pictures in the cloud. It's just somebody else's computer. It's just a big computer. There's nothing in the sky.
There's just a data system collection tool and it's fallible. Kids. There were two fires this morning in Peoria on around 91st Avenue in Thunderbird. So if you're in the Sun City Peoria area listening to US today on 30 October, two fires. One was a transformer unit.
How this, you know, I came in here to record right after reading about it. Actually I first saw it on the Citizen app.
I'm like Mrs. Kravitz from Bewitched.
I like being a next dorm citizen to see who's yelling at whom Anyway, so yeah, there was another outage yesterday, the Microsoft Azure outage.
And the first article I read was Cloud Cloud outage. So good luck kids. If all your faith is in technology, good luck to you. And it was a big, it was wide. We got an email yesterday, Anthony, I'm sure you saw it. One of the carriers we represent, F and G. I'll name them by name. Good company. I've been representing them for 25 plus years. They used to be called Fidelity and Guarantee. I'm not they, they don't sponsor our show but shout out to you guys, you're pretty cool.
Anyway, they sent an email out yesterday saying they were affected by the Azure Outlet.
So then I start reading Microsoft 365, Xbox Minecraft.
So and the article was titled something like the Harsh reality of Cloud Failures.
So I just thought that was funny because last week I'm railing on the clouds, this week another cloud outage occurred.
Let's move on a little bit. I want to get to something here. The economy. I want to talk a little bit. I really like to talk about the economy and if we have time, banks and some other stuff. Banks, I know that's on Sam's card because every single week, banks and the, the fact that there's no money, kids. So if I don't get to it. Just keep in the back of your mind that you need to read something. You don't need to read the 850 whatever pages of the 2010 Dodd Frank regulation, but you need to read the summaries, you need to read what it says and you need to familiarize yourself with the term bail in. And you need to understand that Since March of 2020, the fractional reserve system on which we live under the fractional reserve amount has been zero.
The government said Covid is an unusual circumstance. Banks, you don't have to keep any money in reserves. Zero. Think about that. If you have money in the banks, and I keep telling you to look this up because even bankers don't know this. If you go to fdic.gov and look up statistics at a glance and you go to the deposit insurance fund, it has 1.3% coverage on your money. So when they tell you don't worry, you're covered up to 250,000. Yeah. If it gets exercised, you're covered at 1.3% up to your 250,000. Let that sink in and then talk to your banker and they're going to tell you it doesn't exist.
[00:46:29] Speaker C: So can we bring Sam in real quick? Because he said the banks were on his bingo card. But what specifically? Is it just the banks in general or. What did you have on there?
[00:46:39] Speaker D: All I put in that square was the banks.
[00:46:43] Speaker C: See, that's an easy one. That's practically a free. Yeah, all right. Get back out of here.
[00:46:49] Speaker D: Leave us. Sam. You've disappointed your father and brother. Leave us now, Sam. You know what? I haven't called Sam the one and only Sam Davis in a while. And I feel bad about that. I mean, now that I've adopted Sam as my son, I don't feel like I need to put him on a pedestal anymore. But I really do. Sam is amazing. So if you're listening to our show and you wonder why it sounds just so perfect for guys that do financial stuff and read statements. We're not radio guys. Although, you know, our looks definitely warrant radio, not tv.
Shelby.
I mean, you. You guys keep this stuff together. I mean, you actually make us sound presentable. I listen to the show every week. Anthony does not. Did I mention that? And it comes out pretty good.
[00:47:28] Speaker C: I don't have to listen to it. I was here. I did listen to it live here before anybody else.
[00:47:37] Speaker D: You. Oh, well, good for you. I'm. Now I'm back in track. Jay just got home. Jay just walked in the door. I'm amazed because the dogs didn't go bat. You know what? Crazy. So weird. Anyway, let's. Let's move on. I want to talk about the economy for a minute. There's a new term, if you haven't heard it yet. I'm glad you're hearing it here first. We now have a K. Economy.
Our economy. Look, picture a lowercase K where it has the line on the left and then on the right.
[00:48:02] Speaker C: Or regular print.
[00:48:03] Speaker D: No.
What did you just. Why are you throwing me off track on my cursive? It's the lowercase K. Just pictured, Anthony.
The right side of the K. The upper class.
The upper class are spending. They're still able to buy nice things, you know, nice handbags and shoes and go on vacations and seven hour long sporting events and all that stuff. The bigger leg of the K is heading down.
The personal and corporate bankruptcies are skyrocketing. There's still a problem with commercial real estate at the banks, even though we don't seem to ever hear about it anymore. We. We have all these problems. We. We. It's. The economy is not doing as well as we're being told. But now they're starting to call it a K. They're saying what I've been saying for my entire career the rich are getting richer, the poor hover and the middle class shrink. Apparently starting on Saturday. The the poor may not hover with their food anyway but we will see how that plays out.
[00:49:01] Speaker C: Exactly it.
We've got the stock market hitting all time highs which obviously those that own stocks are telling me how great everything is.
But we've got 42 million people on food benefits. One in eight people on food benefits. Like of course that's a K. It's.
[00:49:21] Speaker D: Been a K a long time. 25% of them are frauding the system and MMS and jack in the Box. Peanut butter and fish and bread, milk and cheese.
We need gumbin cheese.
Anyway, I guess all I'm bringing up is that I hear how great things are that we can lower rates, you know, inflation be damned. And, and I know the economy's strong when you're lowering interest rates. I know that we don't need help anymore government. So go ahead and lower rates.
Question for you didn't just this week Amazon layoff and I know this also ties in with AI that may be on Sam's card. Didn't Amazon just lay off 14,000 corporate employees this week? I read as high as 30 total. 30,000 employees total. But 14,000 from like the management from the corporate. Corporate. So when you think your job is going to be replaced by AI because you're a factory worker, that is true. But if you're in middle management, if you wear a tie of any sort, if you wear a suit, your job's not safe either. You know we've been telling you if you're a doctor or a lawyer, AI can do those jobs. AI is coming. The, the AI. We're, I think we're in a huge, I think we're in a bigger tech bubble than we were with the Internet bubble. I think we're going to have another 2,000. I think AI you know Nvidia, Nvidia. Yesterday on the 29th of October, Nvidia became the first company in history to reach the $5 trillion valuation mark. So good for them. And then they interviewed the CEO yesterday. The guy I think he's related to, Ohtani, the guy they asked if it's a bubble. They asked him is this over inflated? Is the value of the company really there? Oh yes. Oh yes, of course it is. What do you think he's going to say? He's going to know this company's a crocus crap. No it's not. This is worth, this is worth half what we're saying no. So he. He said it's okay. So it's okay. Don't forget your own government to you. Your own government before the correction of 2008. Remember around the summer of 2007, they said there's no problem with the housing market.
Look it up. They said there's no problem with the housing market. We're strong. They said the word strong. I was there. I remember it. And it's like, oh, then we have the biggest crash we've had since the great depression. And Anthony, you've been in the office seven years. We had Covid with the biggest black swan in the history of the world and nothing. One month of correction.
[00:51:33] Speaker C: That one's not a K. That one's a V. Goes straight out.
[00:51:36] Speaker D: That was a V. That was definitely a V. But anyway, the whole K thing, it's hilarious to me because the K is going to get way worse and I know it. I don't know how other people don't see it. So you need to keep us in mind because our whole mission in life is to make sure you are proactive and not reactive. We forget every show. We should tell you our job is to make sure you're prepared, not scared. Proactive, not reactive. We talk about planning over products. We talk about education over sales.
Was that a gong? Did we just get our very first another money?
[00:52:13] Speaker C: Sam, Was it a proactive, not reactive? Is that.
[00:52:16] Speaker D: I need another sound effect quick. Can you do people cheering? Can you use some kind of a clause?
[00:52:20] Speaker C: Yeah.
[00:52:23] Speaker D: I was actually prepared. Not scared. When you said proactive, not reactive, I thought I got it. I thought I got it. But I, you know. Yeah, we'll look at the card after. I don't want to derail the show. We've only got a few minutes. Well, let me tell you the last. The last thing's important. I never did get into an article and Anthony sent me two that I was at least going to try to get to. So we'll do it next week.
[00:52:46] Speaker C: Talk about Kyle Busch next week. Because that one's a big one.
[00:52:48] Speaker D: Oh, that's right. I wanted to get to Michael C's directly to. Yes, we're gonna dig into that. I. What I really want you to look up this week, your homework. If you're a listener, I want you to look up flock cameras, F, l, O, C, K cameras because they're in snowflake, they're in Phoenix. Tempe Scottsdale are starting to fight back. But I had a discussion with my beautiful bride Sandy last night about flock cameras because they made it to Channel 10 news. People are finally talking. I've been shouting about it for a long time. So look up flock cameras, see if it bothers you.
Yeah, yeah. We today just went by so fast. So Anthony, do you want to take us out? We'll resume this next week.
[00:53:27] Speaker C: Flock cameras about overzealous government overreach and surveillance.
[00:53:32] Speaker D: Yeah, the National Guards are going to go and fall down.
[00:53:34] Speaker C: We don't need the National Guard to enforce it anyways. Oh my God. Where are my notes? That's it for today's show. If you like what you heard, you have questions on any of the topics today or you want to sit down with us to review your personal financial situation. You don't have to have 500,000, you don't have to have a million. You could have $20 in your pocket and you probably need help more than anybody else. Reach out to us
[email protected] find us on the web anothermoneyshow.com you can schedule appointments with us right from the website.
Give us a call. 623-523-0444. That number again is 623-523-0444. That number one more time is still 623-523-0444. There's no minimums, there's no cost for employments. There's nothing to lose by getting a second opinion on your financial situation. We'll see you again next Saturday at noon right here on 960. The Patriot.
[00:54:37] 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. BCM. A registered investment advisor, BCM and Rock 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.
At Rochford and Associates we know you've worked hard to earn your money and you've worked even harder to save it. When it comes to wealth management management and Planning for retirement, J.R. rochford and his team of specialists have been helping individuals, families and business owners find financial freedom at their veteran owned firm for more than 25 years. Give us a call now at 623-523-0444.
[00:55:39] Speaker A: That's 623-523-0444 fixed annuities, including multi year guaranteed rate annuities are not designed for for short term investments and may be subject to restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer.
