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 Correo and JR Rochford.
[00:00:42] Speaker C: Here we are, your hosts, Anthony Corrello and JR Rochford taking a break from our day to day as financial advisors with Rochford and Associates, a fully independent fourth generation veteran owned office right here in Sun City. To bring information you may not find on those other financial radio shows, we're where the last thing is you. Oh my God. Yep, that's where we're at today. We know the last thing you need is another money show or to be listening to me stumble through my words. But you're here and we thank you
[00:01:15] Speaker D: for that and luckily I'm here to save you. I got you. I got your back. So I know a lot of words and I'm going to use every single one of them today.
[00:01:27] Speaker C: Isn't that Garrett? Oh, I learned that from Garrett used to say to him, I'm gonna tell you all the words I know.
[00:01:34] Speaker D: Nice. Well, today I'm going to tell you all the words I know. So I know I say it every week, but I have a lot to get to. So let's jump right in. I don't even care if I get to the articles today because today has to be a little bit more financial than usual and I have to talk about the world a little bit more than usual. So we'll see. We'll see how this goes about the world. I have to I mandated to do certain things here on 960 the Patriot because we are intelligent talk. So let's get right into it. Let me start with the shout outs. Get that out of the way. We took a little gambling junket your mom and I did. I'm glad you were here to hold down the business for it for a couple days. So it was pretty fun. We took a group of people. So if any of you are listening, I know Mike Michael C. From Sun City and his wife are listening and one of them almost got us kicked out of a comedy club.
Yes, how do you almost get kicked out of a comedy club. I mean, you are supposed to have fun and interact and stuff. But she was warned not to heckle the comedian, so that's awesome.
[00:02:36] Speaker C: And technically not supposed to interact.
[00:02:40] Speaker D: I don't know. I mean, it's not like we were at the Improv. I mean, we're at a LA comedy club at the Edgewater Hotel in Laughlin. So it's not exactly, you know, thousands of people seats and it's kind of a small venue and it was on a Sunday night at 8 o', clock, so. But anyway, getting. And you know what, let me start with the shout outs there. Thank you so much to Bob Zany. I don't know if anybody who listens remembers him, but we, we had him on the show, I don't know, maybe six months ago or something. And we had a really bad connection, I believe, on his side because usually we feel okay here, so. But it was very awkward, it was very delayed and it was kind of weird.
Sam said it was a legendary episode. Not sure about that. Like, if you're looking for past episodes, which you can find wherever you find your favorite podcast, let's say Amazon, Google, Spotify, et cetera. So I don't know if that's one I would look up or not, so. And I did notice that I did not offer Bob the invitation to come back on the show because I'm that worried that it was like, on his side that we had problems. But anyway, so Bob, the show was great. It was just by chance that Bob Zany was performing this past weekend. So that was kind of cool.
Let's see here. And I want to say thank you to Carol. I highly doubt she listens, but she is a host at the Aquarius and Edgewater Casino. And she's the one. I've known her for a while. She's the one that invited us in. She comped our room. We felt like whales. And that is because we went to the all you can eat buffet several times. But we felt like high rollers because she comped our room and it was pretty cool. So nice weekend.
Hopefully everybody that went with us had fun. It was, it was a great group.
So. And another shout out to Michael C. Thank you very much for including us in your St. Patrick's Day party. So I, I, we had a wonderful time at your house, as we always do this. I don't want to tell you too much about Michael C. Because I don't want to get too personal, but this they have. I think it's okay to say this, they have a pub in their house. So it's just, it's awesome. It's kind of like the party house of the neighborhood, but it's in Sun City, so it's an older crowd but pretty cool.
We had, we're noticing we're getting more and more five o' clock in the morning listeners. So I'm going to stop making fun of that. I'm going to stop giving people a hard time that are up at 5 o' clock in the morning and listening to us. But one of our friends and newer clients was in this week and she thanked me for the shout out from last week. So I'm shouting you out again because I just, the fact that you have come in to meet us, the fact that you have trusted us to assist you with your finances, the fact that you listen to the radio, all of that is why we do this. I mean, we're trying to sound alarms. We're not a 60 minute infomercial. So when we actually do get to know people, it's just so cool for us. So you, you keep us going and I appreciate that.
Last thing we, we're going to have a guy from a organization called Veterans Affinity.
I know we have a lot of veteran listeners, so I want you to, that's a show I don't want you to miss. So as soon as I get a date, I'll put it out. But we've got a guy named Rick Kreberg, Kreiberg, that's the founder of Veterans Affinity. And they've educated me on how people on 100% disability don't have to pay their home tax, their property tax. I mean, I've learned a lot, I've learned a lot about scams and frauds in the veteran community. So I want to bring him on to give you some information about what he does and who they are and that sort of thing.
Well, let's jump right in. Yesterday was the big Fed meeting. Today, by the way, is we're recording on Thursday, March 19th. So yesterday, on Wednesday, March 18th, oddly enough, was the big Fed meeting. And I know that it was really hard for me to enjoy my trip because all I could think about was, you know, are they going to raise rates, are they going to lower rates? So, and as everybody expected, they, they stood still. They didn't do anything. You know what the problem with the Fed, first of all, it's the Federal Reserve. They're not federal and they don't have any reserves. So that's the first problem. But what I'm going to get at here. They have no idea what to do. They are in such a dilemma. The interest on the debt at this point is, it's not where we can keep going much longer. So they have to lower interest rates. They can say they, they're gonna lower interest rates. So first time home buyers which now are in their 40s and up, they want to help the economy, they wanna spur growth. Give me a break. You can't afford the interest on the money you've printed and borrowed. So I know what this is about and I think most people are starting to put that together. We went over just this morning on the 19th of March, we went over 39 trillion in debt. That means watch your phone, watch your PC, whatever you look at, go to us debt clock.org and start watching that. Because guess what's coming next? 40 trillion should be about four months away. I mean my understanding is that every three or four months we're piling another trillion on the debt. 39 trillion in debt. Picture the number 39 and then put a comma and then add 12 zeros behind it. It's a number we cannot fathom yet. We're dealing with it. So the rest of the world, which there's some issues right now, they're tired of us, they're tired of our debt, they're tired of our everything.
So we may be replaced, we may have to just tip ourselves internally and go to a central bank, digital currency. That's what's next here financially. So all of this stuff that's on the table, I just want to point out that the Fed had no idea what to do yesterday.
They're in a heck of a problem. Inflation numbers that are coming out are worse than expected.
So that's a problem I have brought up to people over the years. What if we ever had hyperinflation, you know, inflation is a problem. I get that. The rich are going to be fine, I get it. The poor are going to be fine. I get it. Most people that I know, most people that we interact with are the middle class. And when I say the rich are getting richer, the poor hover and the middle class are shrinking. I've never seen anything like this. It's getting worse and worse and it really. We've got a couple of things we'll talk about today that are going to perhaps break the, break the system. I'm all tongue tied with this. So Sam said the Fed is the HOA of the economy. Yes, they are the HOA. And we all know about HOAs. If you've ever lived with one or gotten to speak with somebody who does.
These people in the Fed, they were picked on as childs, Children's. They've got agendas. And I. Oh, yeah. Well, so. And I mean, I don't know how any of this ends, but I can tell you, Anthony, the time has come at. What are you, 35 years of age now? The time has come to stop listening to so much music, stop listening to comedians like Bob Zany and Jen Murphy and others, and start watching what's going on. Because I actually think that you are in the beginning stages of seeing the next great financial crisis. I believe that. I think it's going to be slow going. I think we're going to have some reprieves. It won't just go straight down, but everything is starting to get a lot more real.
And you do a radio show, so technically you should watch State of the Union addresses with me and all that sort of stuff. Anthony knows that years ago I was a. And. And I hate the word prepper because the connotation is negative. Like you're crazy. You know, you don't. You know, you're scared and you're nervous. It's not it at all. Prepper comes from the word to prepare. I don't think that's a bad thing. I think people that had extra toilet paper and hand sanitizer and Clorox wipes before March of 2020 were grateful. It didn't make them crazy to stock up. It actually made them smart. So I remember my own family giving me a little bit of grief over some of the stuff I was doing and the money that I was spending.
I now, I mean, fast forward 15 or so years later and I'm older. You guys have to take over. You have to have a plan for what's going to happen. My plan is just to curl up in the fetal position and go to sleep. At this point, I mean, I'm just. I can't. I can't do it anymore. I mean, I'm in my 60s.
I can take Social Security anytime now. So I'm looking into that. I guess I have to quit my job first because I don't want to give back a dollar for every two I make. You know, the money that I put in over the years, my entire working life, I don't want to make it get throttled back. But I also think Social Security is one of the items they're going to change in the next few years. So I have to get into it and be grandfathered in before they come out on a Friday night after 6 o' clock Arizona time and say you can no longer apply at 62 or 66 and 10 months or 70 or whatever. You cannot start thinking about applying it until you are 70 or. Or 75. I believe that's what's coming and I don't think it's that many years from now. We have a lot of other stuff to get through first, obviously. But anyway, the. The.
Anthony held up a book before we started recording today. Anthony, do you mind holding it up again so I can read the name of it to our loyal listening audience? Because you may want to pick it up quickly.
It says here no grid survival projects.
What was the other one you had? You had two you held up. And by the way, good on you getting books and not like YouTube videos and things on discs. The other one is by Joel Lambert, a Navy SEALs bug in guide. So watching Anthony hold up these books and knowing that Anthony is never worried about anything for us, he's full of beans. But Anthony is not worried about anything to hold up those two books. I'm half confused and half just excited for you. So I'm glad. When I'm in the fetal position, you'll be able to like, you know, use a clay pot and a tea candle to keep the room warm. So anyway, do you have anything to say about this?
[00:12:46] Speaker C: No, I'm looking forward to it. I don't know. So these projects just seem like fun. And again, you are such a terrible listener. It's not that I'm not worried. It's that I've prepared about as best as I can if something happens. And if it does, I'll deal with it. But having to scare myself every day with all of these what ifs just seems like a waste of time.
[00:13:06] Speaker D: So I don't want you to be scared every day. I want you to be scared once a week. The only time I want you to be scared is when you are at another money show. Because our job is to sound alarms and wake people up. You know, in the whole thing, everybody should look at it exactly the way you do. You should be prepared in case things happen. And then you should have a nice day. Ray, if you're listening by chance, you're the one that taught me that many years ago, you know, when I was too worried about things, which I was. That's going back about 20 years ago, I started being too worried. And then I used to meet with a couple brothers and one of them named Ray was. Was pretty much basically saying, you know, what the hell's wrong with you? You know, what if it doesn't happen? Like, you're all charged up about this stuff. You know, you're hanging out with oath keepers and, and collecting rainwater and doing all this stuff. What if it doesn't happen? You're wasting your life. And it's like, that was beautiful for me to hear. And, Anthony, you're not exactly the best listener either, because you think I'm still worried every day. I'm not. I spend time every week getting ready for this radio show to give people what's going on in the world that they may not get in the other radio shows. I'm not worried at all. I went to laughter this weekend. I never even thought about the world. I tried not to even look at my phone because I know the text alerts I get will make me sit down. I didn't. I didn't. I mean, I. I love to play poker. Anybody that knows me knows I like to play cards.
I used to like riding motorcycles. I used to have other hobbies that were more physical. You know, I've laid off on some of that. I really don't worry at all. I mean, I've done what I can to prepare. I'm trying to make sure other people do the same. You know, part of why I think it's good that we all get prepared as much as we can. Have you ever heard the word doomsday pirate? Have you heard that word, Anthony? You know, why should I prepare if I know next door you have prepared? I'll just come over to your house. Well, a, no, you won't. And B, what the hell's wrong with you? I didn't prepare for you. I prepared for my family, not yours, so. And I know that this is not the way I meant the show to go today, but it's really important because there are a few things that we're going to get to that let you know. It could literally be tomorrow, that you don't have any power in your house. And I. You, you better have some plan for what you're going to do about it, because if people panic, you don't really want to go to Walmart. And by the way, you can only go to Walmart for two or three days, so things could get real weird in a hurry if something gives. And I'll give you a couple examples in a little while why I think that could happen at any day. And my thing, I love gold and silver. I know it's God's money. I know according to the Constitution. It's the only valid currency. So I know the fiat dollar we use is not right. I know the upcoming, you know, central bank digital currency facilitated through FedNow and the Genius act is it's not legal tender, but that's what it's going to be.
I'll tell you what, it's thousands of years old. It's a store of value. I get all of that. I do also want to make sure people understand that they should always do their planning and investing, being mindful of diversification and moderation. You know, the people that don't like precious metals, you can't eat it. That is true. You can't eat it. Let me see you eat your dollar. Let me see you eat your dogecoin. You can't eat any of this. You can't eat a fixed. You can't eat the alternative to a cd. You can't eat any of that. So guess what you should do? You should do your money. You should do your gold and silver. You should also have some guns and ammo, food and water, maybe some alcohol and tobacco. Well, I don't smoke. I'm not thinking you should start either. But I think you ought to have something to trade with people in case we get another Covid. And you need ivermectin and hydroxychloroquine again and hand sanitizer, Clorox wipes and toilet paper. So, wow, this really took a turn.
I didn't mean to start getting into prepping, but I can tell you what, if you've ever watched the show Doomsday preppers, doomsday bunkers, I think they used to be on AE or whatever the station was. They were interesting, but they really let you know that first of all, like only a handful of people in every state could be that level of prepared. And B, they kind of came off as pretty crazy. And it, you know, I mean, when you fast forward from the time those shows are on till now, nothing's happened. You know, Anthony, right. We've had a world war, we've had black plague. We, you know, it's just going to keep chugging along. I'm not sure. I still think things are going to happen. I hope they're temporary. I hope we don't go the way of Venezuela, which is still having problem with food meds and all that stuff. I mean, I guess they'll be in better shape now that they gave us all their gold and they're going to be, you know, I guess another one of our states, they'll be okay.
So anyway, I just think you should be awake. If you sit down with us, we will, we'll do your traditional financial planning. We will help you with a second opinion on your IRA or your 401k or whatever your existing financial products are. We are also going to help you make a plan.
Instead of just having products, we want you to have a plan. If this happens, this is what you do. We want you to have an income plan. That is the number one thing we look at. We want to make sure you have everything laddered out and lined up for whatever comes your way. I can tell you if you hear this show and you resonate with me a little bit more so than Anthony, sit with me and I will tell you about a tower garden. Anthony will tell you about a bicycle generator. That that's what he was reading about one of those books right before we came on. We can actually help you with the crazy stuff. I know what your advisor is going to do in the near future.
I mean boy, this is a segue from prep into to financial advisors and how they behave. Your advisor is dusting off their manual everything they've been trained on keeping you calm. These markets are definitely shaky. Is it going to bounce right back and we're going to get back to Dow 50,000?
I don't know. I don't have a crystal ball. I keep telling you, the Dow Jones Industrial average only has 30 companies in it. The S&P 500 has been floated by less than 10 over the last 10 years. I know there's a lot of problems. March 9, just a few weeks ago was the 17th year anniversary of the end of the great financial crisis. And a lot of things have gotten a lot worse. We've got a lot closer to the insolvency of Medicare, Medicaid, Social Security. The geopolitics has been kind of a mess. Look at the division in politics. This is not a political show. I don't really care for it when people try to make it political. This is a financial based show. But I can tell you what I mean. You know, people used to be they had some common ground when I was growing up. They had some common ground until about 20 years ago. Now they do not.
We're so far apart. The one of the ten pillars we used to reference periodically with civil war. I still think that's on the table. Anyway, back to your advisor.
Get ready. They're going to. If this keeps getting worse, if this, this correction gets worse or grows legs and becomes more real and more valid, they're going to have to remind you again. Don't panic. Hold the course. It's only a paper loss. So you, you went for 17 years, advisor not telling me to start selling to, to, you know, make sure I take advantage of the fact that it's only a paper gain. But now if I'm losing money, it's only a paper loss. 17 years I could have been putting money into my future income plan, into gold and silver, alcohol, tobacco, guns and ammo. 17 years, you didn't call me. You kept me invested based on my date of birth, my income, my assets, all that financial stuff. And now that we're having some financial difficulties, maybe we're heading into another 2000 or 2008 or God forbid, a combination of the two. Now you're going to tell me that I should. I should. And the other one, Anthony, I know you like this one. Oh, you need to buy the dips. You went 17 years without telling me to sell the peaks, and now you're going to come out and tell me to buy the dips. But you kept me fully invested because you don't get your trails, your assets under management. You don't get your money if I'm not invested. Right? Right. I mean, if you have me sitting in cash, you don't make money on that. You've got to have me sitting in the, in the, in the funds. So when, when the market goes down enough and, and you start telling me to buy the dips, where in the heck am I supposed to get that money?
So I watch Anthony, who's actually, in my opinion, one of the good ones. He's actually a good financial advisor. He keeps people, he looks at the different sectors, whether it's energy, whatever the sectors are, to make sure we stay current with what you should be looking at. He also makes sure you have a cash position ready for the dips. He doesn't get paid. His trails or whatever you call them on that part of it. It's the right thing to do.
So sorry that I'm slamming your advisor, but this whole thing, you know, your people with their blue suit, white shirt, red tie.
If the market keeps going the way it is right now, or God forbid, gets worse, just be ready. Remember I said this and you know what to do about it after that. First of all, it's your money. So next to your health, it's pretty important make sure you are ready to have conversations, maybe even proactively and not reactively. Maybe it's time to check in with your advisor. You know, most of them do an Annual review or a quarterly phone call, ask what their plan is if we have another 2008, if my money is down 30, 40%, what is your plan?
You know, see what they say. They usually, they're going to talk about stop losses. They're going to try to talk to you a lot about, you know, age based appropriate investing and holding the course. And I just, I don't know.
I learned some from my father before 2000. I came in in the late 90s. I learned some before 2008. I think we actually were able to work together fair. Well before 2008, you know, 2007, we really had a lot, a lot of client appointments and we really tried to talk to them. We know something's wrong. We don't know how bad it'll get, but we should be proactive. So I have been screaming about that for years now. Anthony, this July you will have been in the office with me for eight years and you really, I mean, Covid the biggest black swan event in the history of the country and the world did not phase the markets for very long.
So maybe World War three coming along might, I just don't know. But anyway, it's your money. You know, we have people, the two things we see a lot people come in and sit with us. You know, they're nervous now. We were starting to get nervous now that things have been going down for a few weeks in a row. And the one thing that we, the two things we see one is basically, well, I don't want to pay taxes.
If we help you allocate differently, if it's good to lock up some of your gains and you don't want to pay taxes, then as Anthony says, just wait when your money's half off, come back and then you'll have less taxes to pay. As we help you ladder it out properly and we take you away from products and into a plan. So the tax is a big issue. The other thing is we get stuck in Anthony's favorite term, normalcy bias.
We just can't see that the world can get sketchy, at least this country. And I'm not so sure that that is, is the case right now. Too many things going on and I, I know I just rambled for the first half of this, but I think it's important to let you know that I don't think we are out of the woods yet on this, this current market correction. And I honestly think there's a few things on the table that could make it really, really worse. And we want to make sure. You get a second opinion or at least look at your holdings prior to the potential correction that we might be seeing. So that's all.
We are getting close to break time.
I've got a super quick. How much time do we have, Sam? Oh, maybe I don't have time. Right after the break I'll do the quick Festivus report item and then we're gonna get into a few reasons why I think this is just the start of a weird world currently.
So we love that you're here. We value your support. Thank you so much for the people that have emailed and called and texted, you know, letting us know that you enjoy the show. You, you like it the way it is. We really, we've only still had one person call in that just doesn't like the show, doesn't like what we say, doesn't like what we do. So but the rest of it's all been positive. So. And we are, I'm not sure what day but any day now we're going to have the new offer to re extend for another six months. So it's still time for you to give us your feedback on this let's see YouTube channel. Please help us. We are, we're still, we're trying to hit that 700 subscriber mark. So you know, Joe Rogan, we're nipping at your heels there. We've got almost 700 subscribers. We do have almost a half of a million, you know, views on our short videos and our shorts and all that stuff. So I, I know it's working. We need your help, like subscribe, let people know about it and let us know, I mean feel free to comment on the videos and shorts if you would also. That helps us with that said, please reach out to us. We want to meet you. We want to meet every single one of you that here in the show that not all on the same day. Don't you all come in next Wednesday or Tuesday, March 24th. That's actually my wife and Anthony's mom Sandy's birthday. So quick pre shout out for the next 24th. I don't want to tell you how old Sandy will be, but yeah. Oh boy, she's in the background. She's on spring break this week. She'll be 59, she said so apparently she's not worried about it. Anyway, reach out to us. 623-523-0444 or if you're shy you can email teamnothermoneyshow.com we'd like to meet you set up a time. We'd like to have your show ideas and we'd like your feedback. Thank you so much for being with us. We will be right back.
[00:26:26] Speaker B: All of JR and Anthony's listeners receive a free consultation just for listening to the show. Visit another MONEY show.
[00:26:44] Speaker C: When you were younger, did you ever make a dumb financial decision you wish you could take back as you're nearing retirement, Are you worried one wrong move could wipe away all your years of hard work and savings? What if I told you it doesn't have to be like that? If you had a financial mishap during your working career, career at least you know you had paychecks coming in to replenish that money. So why should your retirement be any different? Most companies stopped offering pensions decades ago, but what no one tells you is you can fund pensions yourself. Give yourself the peace of mind of having income you can never outlive in retirement by adding a pension as a part of your retirement plan. Assets come and go. Income is forever. I don't Anthony Corayo, co host of another Money show airing Saturdays at noon on 9 60, the patriot and the fourth generation of financial advisors at Rochford and Associates in Sun City.
Reach out to us and let us help you self fund your own pension today at 623-523-0444. That number again is 623-52304.
Or find us on the web at anothermoneyshow.com
[00:27:59] Speaker B: Time to trade stress for strategy. Let's talk money that makes sense. 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 fish in a big pond and we greatly appreciate you. I mean, everybody that we've talked to, everybody that we've met, everybody that we found out listening to the show that we haven't met yet, we just, just so you know, we greatly appreciate you. So thank you for being here. I'm going to jump right back in. Let me knock out the Festivus Report item. I've got a real short one to read you today on purpose because I want to tell you why the world's ending. I'm going to tell you why Anthony is going to be glad he has those books in hardbound or paperback. Whatever you say. So here's one for you if you're new with us, the Festivus Report. Every year, Rand Paul puts out a list of some, you know, like a fraction, I'm sure, of the government spending abuse. And it's just different items on what the government spent and what it's for and it's really, really it's half funny, half it should make you angry. Your tax dollars that you thought were only going to Ukraine and now you think they're only going to Ukraine and Israel and Iran everywhere those dollars are also still going to all kinds of crap that they shouldn't be. This one, the amount wasted $2.1 million HHS plans to give and I think that's Health and Human Services if you're wondering. Plans to give 2.1 million in total to New York University for a four year project where researchers literally camp outside NYC EDM festivals, hand out surveys about what you think you took and then collect saliva samples to test for over 1000 plus drugs from people stumbling into warehouse raves.
It seems as if we will just ignore the reliability of the population sample who not only has to give a saliva sample after leaving a rave, but will also have to take a follow up survey to assess for adverse effects.
So the federal government is spending your money to keep tabs on what is in in the Mali at 2am in the Big Apple. Perhaps we don't need a multimillion dollar rave renaissance mission to confirm that nightclub drugs are are in fact drugs. All right, if I read that and you're around my age or older and you're not sure what Molly is, maybe you're not even sure what an EDM is. Maybe you're sure not not sure what a rave is. Reach out to Anthony because he's younger and he can explain all this. I can just tell you right now it's not where you will choose your tax dollars to go. I'm fairly certain. So in, in everyone we've read so far this year has been stuff that I don't think any of you that are listening to the show would approve of. But who knows? Let's jump right into a few reasons I do believe you really need to be awake and aware and nimble right now. You don't open your next quarterly statement, don't leave it closed. It's your money next to your health. It's the second most important thing on this plane. So make sure you take it seriously. There are people that can help. If you have a good financial advisor, do reach out to them. I'm not being funny when I say that we're not poachers. If somebody's doing a good job for you, if you want a second opinion and it looks like they're doing everything that we would do, we're never going to try to take you. We say every single week that we don't have the pressures and the quota of most financial advisors. We see them, we're in Sun City where maybe there's too much money because there is a whole bunch of people trying to get your money. If you live in Sun City, you know this, you get postcards every week. You can go to a lunch or dinner dinner diminar, that's what we're going to call our seminar, a diminar. You can go to a lunch or dinner seminar every single week and get fed. Sooner or later you might run out of firms. Because it seems to me like the postcards we get, you know, I guess until we start going to them, there's a lot of repeat firms doing these. So we are fully independent. We don't have the pressure and quotas that these other people have. So maybe will be a refreshing change to you. But we need to get to you sooner than later. We need to sit down with you before things go really far south. Because eventually, like what happened in 2008, we are going to have to suggest you hold the course. You know, if you're down enough where it doesn't make sense for us to reposition your assets for a more favorable result, we're not going to try to do that. We don't do anything just so we can get paid. Our broker can get paid. That's not how we work in our office.
Let me give you a few examples on why. You better be aware. The one that seems to be hitting the mainstream media a lot and I won't spend a lot of time on this, but I have 1, 2, 3, 4, 5. I have five articles in front of me, two of which are from Michael C. And Sun City. Thank you very much. I'm only going to read a little bit from a couple of these. One is from the 26th of February. So this is from the Wayback Machine. Private credits. Great divide. Imminent crisis or no big deal.
So now you know what I'm about to talk about. This Blue Owl, Apollo, Blackstone, blackrock, you know, Tri Color, First Brands. I asked Anthony about a month ago if he thought it was a big deal or not. And he said, you know, he doesn't think it is. It'll die down. I'm not sure. It keeps rising.
This, this article from the 26th. Even in the world of private credit, which for months has pitted skeptics against true believers after some high profile blow ups, the difference of opinion has reached new highs in the past week. Mind you again. This is almost a month old to the likes of Jamie Dimon, Mohamed El Arian and even a money manager. From the parallels with the run up to the 2008 financial crisis are obvious. That's where I'm going with this. I think this could lead into your 401ks and have them, you know, don't forget the President said, you know, the average Joe, the person with a 401k should have access to this crap. They should be able to put cryptocurrencies and private credit in their 401ks. Anthony and I tend to disagree. You are not financially savvy enough. If you're not accredited investor and you don't have a certain income and assets, maybe you should stay away from things that you don't understand or they're too risky. We, we didn't even.
[00:34:40] Speaker C: Being an accredited investor doesn't mean you're smart enough for any of this.
[00:34:44] Speaker D: Amen. But at least if you lose a million dollars and you're worth 5 million, you're probably still going to be okay. The people that only have 300 grand, 500 grand, the people that have a 401k and not a lot else, they're not going to be okay. If we have another 2008. The older you get, the less time you have to make back your losses. You have to be proactive, not reactive.
So let me put that article aside because what that one basically sums up is that we could be facing another 2008 because of private credit. We have said for four years on this show we think things cycle. We still believe that you should buy low, sell high. We still believe that you should save a little more than you spend. We think you should have a nice day. Enjoy today and tomorrow. Don't just be worried. We think you should do a lot of things and we're not seeing it around us. People tend to chase things. People tend to, to feel like whatever they're in at the time is going to just keep going forever. They don't seem to, you know, get ahead of things as properly as they should. At least with their money.
This is a article that Michael C. Sent over from the Observer.
J.P. morgan shrinks lending to private credit companies. J.P. morgan, the world's largest bank, that's the world's largest bank, has restricted lending to private credit firms terms after marking down the value of its loans to software companies. So we've hit the auto industry. We knew that from Tricolor and First Brands. Now we're talking about software companies. We have warned you for A couple years now about about the CREs, the commercial real estate market that is still not out of the woods. It just hasn't blown all the way up yet. Let's see here. It's a significant sign of distrust at a time of heightened volatility in global markets.
Since the 2008 financial crisis, after which banks tightened lending criteria, private credit has grown fivefold into a $1.9 trillion market.
So see where this is going. This is growing rapidly and it ain't good. Several managers, including Blackstone, blackrock and Blue Owl, have set redemption limits in response gating what can be withdrawn. At one time, JP Morgan has fired a shot across the bow of an industry trying to muscle in on bank's home turf of lending. But is this the start of a private credit downturn? Who will be exposed if liquidity dries up? As Warren Buffett said, you only find out who's swimming naked when the tide goes out. It seems to me, Anthony, like this has not dined down. It's gotten worse. I was telling people when we first heard about Blue Owl, I was saying, watch out. If it gets to blackrock, Blackstone and Vanguard, then you know this is going to get serious. It has already gotten to blackrock and Blackstone. It is not yet. I have not read anything about Vanguard yet. I believe that is to. I believe that's to follow. So we will see because those three companies own this world. So if they start telling you you can't have your money, you have a problem, it could grow legs. You know, part of the other thing is when I always say that, yes, you know, a domino can fall, no big deal. Two or three dominoes, no big deal. If 10 fall, we got a problem. We're at war around the world. We have 39 as of this morning, trillion in debt on the books. We have a middle class that is suffering right now. They're still going out to dinner, they're going to spring training games, they're doing all this stuff and they've got record credit card debt. There's all kinds of issues. I need to focus. Sam's putting up the clock a little more than usual because he's like, JR, stop rambling. Start getting into what you said was important. This is important. I'm telling you there's reasons you need to make sure you're awake right now.
And I have said for quite a while, oh, I do want to hit something. When I read the word gating when I used to do securities years ago, I had one client that was rather huge When I took the client on, it was about $23 million case. And I felt like I was responsible for others people, money and a lot of it. So I really familiarized myself with how to handle that. You know, diversification, moderation is one thing when somebody's got, you know, 5 million or 4 million or 1 million or a hundred thousand, it's a totally different thing when they got $23 million. So I was managing that money. When the money markets broke the the buck, it was either 2009 or 2010 when people who ran from stocks and bonds once, they lost 20, 30, 40% of their money. Don't do that again, kids. When that happened, then they went to the money market. The money market was supposed to stay a dollar net asset value, a dollar a share. It wasn't supposed to do what they call break the buck. You were not supposed to lose money on your money market. And I got familiar with the term gates and fees. They started with the money market money with fees. And you can have your money market money, but you're going to charge it, we're going to charge you a fee. That slowed people down, that throttled back the withdrawals, but it wasn't enough. So then all of a sudden they had to start talking about gates. When they put the gate up, you can't take your money.
This word gating in that article is terrifying because they can tell you, I know you have money, Can I have it? No. We talk about the banks all the time. I have money, I can see it online, I can see it on my mobile app, I can see it in my check register. Can I have it? No. Try to go into a bank and ask for cash. If you have a good relationship, you might be better off than somebody who doesn't. But try to get all your money out, they won't let you. You have to make an appointment. You have to go to several different banks. If there's a modern day run on the banks, which is a trickle at this point, if it goes a little more powerful, trust me, right now you're going to want to reach out to us and ask what to do about it. We do have some solutions still. As long as we catch it before the Friday night at 6 o' clock Arizona time when they announced the bank holiday for Monday and they tell you, don't panic, your money's safe. Can I have it? You cannot. So until that day happens, so with, let me stop rambling, you know what my fear is and this is a real tough position to be in as A financial advisor. My fear is stocks, bonds and banks. And it's been that way ramping up more and more over the years, literally for 17 years because I was here on the job, Anthony, in 2008. They didn't fix anything.
If you dig into the financial services industry, whether it's stocks, bonds or banks, you're going to find a lot of flaws. We talked last week about the plunge team. That's a flaw. We always talk about the Dow Jones 30 companies. That's a flaw. The bank having literally the FDIC insurance coverage you have on your accounts up to 250,000. The numbers went up a little bit last quarter. As of the end of 2025, they have 1.4% coverage on your money.
That Mark Cuban. You're going to be all right, Bob. Nancy, people that are out there that have, you know, 50 grand in the bank, you are so screwed and you don't even know it. That's what pisses me off. People don't even know it. Banks don't. They don't even teach their employees. When I talk about the word bail in to bank employees, they think I'm out of my mind. I'm a conspiracy theorist to them. I do a radio show so I have to sound alarms about stuff. It's never going to happen. Well, we'll see. We were. At the end of the day, we will see what happens. But you need to make sure you understand the 2010 Dodd Frank regulation, the term bail in. And you need to go to fdic.gov and there's three simple steps. I can tell you how to find them. If you reach out to me and you have to find out that what I say is the truth, whether or not we get away with it ever, you know, coming to fruition or not, I don't know yet to be seen back to money. I have said repeatedly over my career if gas prices are steady or going down and, and my 401k is steady or going up. People don't ask why, they don't care why. They don't understand why they've never heard the term derivatives or mortgage backed securities, commercial real estate, that they're not, they're not in this industry. They just don't know what all that means. That's why they have us. Luckily right now gas prices are still going down. We, you know, Iran bombed the energy field yesterday. I'm sorry Israel Bond, Iran's and then Iran reached out and bond. Qatar, Qatar, however you pronounce it. It's not getting better yet. So this little short, you know, make sure Iran has no nukes. This little short, Conflict, skirmish, whatever, it seems to be turning into a war to me. And as long as I'm on that, let me tell you one of my reasons. I think you better make sure that you're watching your stuff and you have a plan in case the world gets weird. Taiwan and China, we've talked about that for four years. China wants to take Taiwan.
China, as we speak, is amassing ships and planes that look like they are ready to finally take action against Taiwan. We will see. I know the Prime Minister of Japan is in the White house today on the 19th of March. Maybe that got brought up. But in that region, I would have your eyes open. Unfortunately, we have a relative that's stationed in Japan, and so it's scary. Kadena Air Base, Okinawa, Japan. So I kind of wish he was here stateside, not there. So the wild card in that region, obviously is North Korea. Young. Young Kim Un, 16th or whatever his name is, you know, with the sister who's creepier than he is. That's. That's the wild card. We are in a potentially nuclear war scenario as we speak. Do you want me to give you some proof, Anthony? Because I bet you haven't read this or heard it. Want some proof? And I know I'm jumping around. I just. I have so much to get through, and I'm sure I only have a few more minutes. So on the 4th of March, feel free to go to Chatty G and look all this up. Feel free to. To use your Wayback Machine. Thanks to Al Gore and his Internet. On the 4th of March, we, the United States, tested a nuclear weapon. We tested a Minuteman III ICBM out of Vanderburg Air Force Base. Or what is it now? Is it Space Force Base?
We tested a nuclear rocket on 4 March.
Russia has made some rumblings. And my understanding from my travels and my reading is that Russia, through their satellites and so forth, are giving some heads up to Iran and what's going on with us. So if China and Russia get into the fray, I would make sure you borrow one of Anthony's books and learn what nascent iodine is. I mean, I think this could get even more serious than I think. So we will see Today again, on the 19th of March, Iran downed one of our F35 fighter jets. I don't know if the person was killed in it or the two people. I don't know what's going on. So. And I don't know. I've been Seeing the word draft again recently. You know, I still have a son who's young enough to be in the draft. Anthony, at 35, I think you will have to be a draft dodger and go to Canada if they get to your age level, but I think you're safe. But your younger brother is not out of the woods. So I just. Good Lord. I'm not, not excited to see if that happens.
So, you know, are there going to be boots on the ground in Iran if that happens? Then we'll have to watch out for the draft and so forth. But this was supposed to be quick. So far it doesn't seem to be quick. When I talk about stocks and bonds and I talk about gas prices, they're going up every single day right now. I'm sure you realize that if you get gas every single day, your gas is getting more expensive. We're still fine. We're still at, I don't know, three, four.
Nearing in on five bucks under Biden at one point. It's not political, it's just, you know, it's about money. We got to over $5 average a gallon. Gas people don't seem to remember that. So this is not unchartered territory yet. If it goes up to like $10 a gallon at your local gas pump, I'm not just looking at you Washington, Oregon and California. I'm looking at you Arizona. If it gets around $10 a gallon, the middle class is done for it. We're gonna screech to a halt. So that will be problematic that then I think we do go into a recession or maybe even a depression. So watch your gas prices.
Watch out in case, you know, things get weird and we actually go into a nuclear war. Because that is a problem. Oh, you know, one more thing about the gas prices. Add something to Phoenix, a heat wave. I went to a local restaurant yesterday called Don Jose's. Wonderful little Mexican restaurant. If you're in the Sun City vicinity, will introduce you to Don Jose's. And as I was leaving, a big white lifted pickup truck was leaving before me. So I got to witness this. And a woman was taking too long to come out of a parking space. And apparently this truck starts laying on the horn, getting very upset, which further seemed to fluster the woman. It was just. I was like, holy crap. I'm sitting here watching this and I'm like, what do I do? I mean, do I get on help? Do I mind my own business? What do I do?
People are tense. The heat here is bad. The heat's bad. In California, too. And you have worse gas prices already. But all I'm getting at is people are on edge. You know, not the rich, not the poor. The middle class is on edge. So I hope it doesn't get worse. Couple other things for you if you're a traveler and this goes on much further, and I'm talking about, you know, all the geopolitical influences and couple that with we're still in a government shutdown. The TSA agents are. They're without two paychecks now. If they get to five or six paychecks, I think they're all going to strike. That's what I think. So if you have any travel plans coming up, say May, June, July, make sure you buy that insurance. Make sure you. You have an alternate way to get to wherever you're going. You know, my understanding is that In Houston, Texas, 40% of the TSA agents currently are off the job. 40%. Think about that. We never really like taking our shoes off and getting scanned and going through TSA to begin with. And now you're telling me there's only 60% of the workers. I'll bet the lines are getting longer. I bet they're going to start telling you to get to the airport like hours early instead of two hours. So I'm watching that. Atlanta. Sam, I understand Atlanta is one of the top three airports for having people off the job right now and wait times rising. So I hope you don't have to go anywhere unless you're coming out here. I think you should come out here to Arizona where you're a little bit safer than Atlanta, Georgia. But that's just me. One more thing I have to get to and then I'll see how much time is left. I want to talk for a second about power outages, power failures. There was a big one just yesterday. Where was it? The Denver International Airport. So not only was tsa, you know, kind of shorthanded, but apparently there was a power outage there.
Let's see what you know. I have people text me stuff. I got a text from Thad. I make up the name Thad. He's a Peoria resident, I believe. I always try to make up a few fake name that you would never think really exists just to protect the innocent. Thad sent me something. Why he looked into yesterday. Why did Denver airport lose power today?
Equipment. The answer from ChatGPT.
Equipment failure at an Xcel Energy substation.
Okay. Is being blamed for the widespread power outage at Denver International Airport on Wednesday, stalled hundreds of flights and caused Headaches for thousands of passengers. I. I got a question. We're seeing more and more of these go on my. I have two questions, actually. One, what if this gets to our banks?
You know how, Anthony, I always tell you we have over the years to make sure you ladder out your money. We talk to you about moderation, diversification. We tell you you need to have some physical cash at home. There's a reason we're finally starting to get into an environment where you may, you may think we weren't so crazy after all, but maybe this is the time where I shine.
If you've got some cash at home, there's a reason. If this gets into the financial systems which Iran and North Korea and perhaps a few other rogue nations would enjoy, you got problems. If you can't get to your ATM machine, if your debit card machine doesn't work, if you can't get into the lobby of a branch of a bank, believe me, the panic could rise quickly. So make sure you have some cash. That's the moral of that story.
The other thing about these power outages, what if we had one right now in Phoenix? And today it's supposed to be like, I don't know, 104 degrees or something. Tomorrow's supposed to be 105 or 6 or something.
There's just so much going on. So the power grid is antiquated. When I was in my old Oath Keeper days, I learned about EMPs and high altitude EMPs and the fact that North Korea has satellites positioned over our country. Country in case they ever want to start. You know what?
It's an everything bubble. And I realize today is a very negative episode. I probably won't share this episode with a lot of newer people. Usually I like to forward it to somebody who I bring the show up to because it's somewhat reined in. Today, not so much, but you could be nuked. You could lose all your money. You could have road rage in Sun City. A lot of stuff is weird right now, so I don't mean to scare people. We don't want you scared. We want you prepared. We don't want you reactive. We want you proactive. We have certain things that are important to us, and the whole thing is we always have alternatives.
It's a really, really, really good window to see us about some of the fixed accounts we can offer. The interest rates are still high. They're very competitive.
One of our sub accounts and one of our fixed products, they earned a return last year of 20, 21%. I won't name, dates, times, the company, all that because you have to, you know, we have to talk to you currently. But I can tell you that's pretty amazing. It's pretty good return for something you cannot lose any money in. It's contractually guaranteed by the company. So we're careful what companies we use. Anyway, it's an outstanding time to get a second opinion. Let us be the one to help you.
Is that good? Anthony? I feel like I'm about to stroke out. I haven't stroked out in the show in a while. Maybe I'm due for the big stroke or heart attack on air.
[00:52:27] Speaker C: That's it for today's show. If you like what you heard, you have questions on any of the topics today which are pretty much just the end of the world stuff. Or if you want to sit down with us to review your personal financial situation, you can reach us at teamothermoneyshow.com find us on the web anothermoney show.com you can book appointments right from the website.
We do have other availability.
You just have to call for that. That doesn't show up on our links. That phone number is 623-523-0444. That number again is 623-523-0 444. Remember, there's no minimums, there's no cost for appointments. There's really nothing to lose by getting a second opinion on your financial situation.
We'll see again next Saturday at noon, noon and 5am right here on 960. The Patriots.
[00:53:20] 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 offer through Brookstone Capital Management LLC. BCM. A registered investment advisor, BCM and Rochford Financial are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results.
[00:53:57] Speaker A: Spring has arrived and with it the urge to fling open windows, sweep away dust, and finally tackle that drawer of forgotten receipts and tangled cords. But while your home gets an annual refreshment, your finances might be collecting their own quiet clutter. I'm Jim Tarabokia for the Retirement Radio Network powered by Amerilife. Now that spring is upon us, maybe you filled your closet with those winter coats. I'm sure it feels quite liberating. But what about the financial dust bunnies hiding in your accounts. Break your budget Founder Michaela Alaka recently spoke with Yahoo. Finance about the importance of gaining a full view of your money situation.
[00:54:31] Speaker D: My best recommendation for getting started with auditing and spring cleaning your finances is to take a financial snapshot. And what this is going to do is show you how much money you are spending on essential things and non essential things.
[00:54:46] Speaker A: A recent guide from Morgan Stanley offers three straightforward steps to tidy up your finances and clear the path ahead.
First, clean up your accounts. If your money is scattered across multiple banks and brokerage firms, it can feel chaotic. And as financial advisor Matt McClure of the Retirement Radio Network tells us, consolidating where it makes sense can give you that feel full, honest picture of your finances. Take inventory of all of your accounts. Look for ways to simplify where your money is held because you don't want it scattered all around in a bunch of different places. You want to be diversified, of course, but you can do that within a couple of different kinds of accounts. Next, declutter your debt. Multiple credit cards, loans with varying interest rates and different due dates can create unnecessary pressure and finally, organize your income and expenses. Take a hard look at where your money actually goes each month. A clear budget lets you direct more towards your near term or even long term goals, like a comfortable retirement. So just as a thorough spring cleaning refreshes your home, these small, deliberate actions can declutter your financial life and make room for what matters most. The spring offers a moment to pause and tidy up. And that includes your finances. For the Retirement Radio Network, powered by Amerilife, I'm Jim Tarabokia.
