The Big Beautiful Bill: Who’s Really Paying for It?

[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 Crayo and JR Rochford taking a break from our day to day as financial advisors with Rochford and Associates, fully independent fourth generation family office right here in Sun City, Arizona to bring you information you may not find on those other financial shows. We're where the last thing you need is another money show. But we appreciate you being here. [00:01:03] Speaker D: So let's talk about the big beautiful bill for a second. It passed the Senate, so now it goes back to the House. I guess it passed by one vote. J.D. vance, good work. So you know, Rand Paul, the fiscal conservatives don't like the big beautiful bill. I consider myself a fiscal conservative. So you know what? Until somebody says we are going to stop spending, we are going to reactivate Doge and not just the DOGE we've had up to now, which was just basically fire a bunch of people. We need to stop the reckless spending. So, so anyway, I mean I'm very, I would have been one of the representatives voting against it. There were only three on the Republican side. I would have made number four. Only because, you know, I'm, I get tired of saying it. I don't care about me. You know what I mean? I'm in my 60s. Sam, Anthony, you, Nicholas, Jay, you, you guys are going to have to live with this spending. We're $37 trillion in debt if people don't see what's coming. By the way, you know, go to a Cardinals game, go to a Diamondbacks game. Go, go a lot of places now they don't take cash. You know, there's a reverse ATM machine at the Diamondback Stadium. You can put money in fiat. Think of the irony of this. You can put in money. So they do take cash at the stadium and it's to give you a debit card at the stadium. We're being dumbed down so quickly. [00:02:22] Speaker C: I've never seen, I mean it makes sense if you go to cashless. But that's crazy. [00:02:28] Speaker D: I mean, you can bring your money and put it in a machine, but you can't bring your money and put it in the cash register to buy a $17 hot dog. Explain it to me. They're not completely cashless. You can get a debit card if you don't see. And I'm going to get to the end of the only thing this show came out to do for you, which was sound alarms. We are a show on current events and how they're likely to affect your finances and your future, your kids, your grandkids, the bottom line. And yes, between now and then, we are going to have some problems with the housing market, with the financial markets. You know, I saw the S and p yesterday, hit 62 something, all time record. So, you know, don't worry about LA and civil war. Don't worry about World War Three, Ukraine, Russia, China, eyeballing Taiwan again. Just worry about your 401k because it's going up. So you're good. So, and today it's retracting a hair. But the bottom line of the whole reason we're on the show, to prepare you for what's coming. Central bank, digital currency. Your banks are going to close their doors. They're going to have a bank holiday. By the way, they'll be closed this Friday. Well, yesterday they were closed yesterday. As you listen to this for the 4th of July, I thought there was some federal law that you couldn't close a bank. Maybe it's four days in a row. So yeah, they can be closed Friday, Saturday and Sunday, but I think they have to open on Monday. [00:03:47] Speaker C: Would I be the rule or is it like the rule where you tell kids growing up that you can't turn the light on inside the car while it's driving, otherwise you'll get pulled over and arrested? [00:03:57] Speaker D: Wow. [00:03:57] Speaker C: I think I was really late into adulthood before I found out that that's not a real law. [00:04:02] Speaker D: Man, what kind of crazy. That's like CPS level child abuse. I never said that to you. But again, I came in your life when you were about 11, so you're probably too old to swallow my BS anyway. So, yeah, the big beautiful Bill, let's get back on track instead of me just ranting today because it's a beautiful holiday weekend. So Anthony, what are your thoughts? I mean, are you okay with it? Do you think that it's going to help your future or hurt it? [00:04:28] Speaker C: My biggest issue is that no bill should be big. I think they should be individual bills. For an individual topic, like, what are we doing with Medicare and state tax, you know, benefits and like, all of this all in once? Like, how do you fix anything when it's just we're gonna throw a bunch of crap together that's all mediocre instead of actually doing something about individual subjects as much? I don't think any bill should cover that wide of range of anything. And that's all bills. Just like you mentioned with the inflation Reduction act the last year. The Inflation Reduction Act? Isn't that what bailed out the. The public benefit Guarantee Fund? What is bailing out that entity have anything to do with inflation reduction? Has nothing. Nothing to do with it. There was so much stuff that got fused together. So what if I did like certain things about the bill, but I really disagree with other things? [00:05:35] Speaker D: Congressman Thomas Massie was talking about this recently. Like, the trouble with making bills so big is so many bills will contain something like pay raises for members of our armed forces. And if you don't like something in the bill and you vote against it, then all of a sudden you're the one who voted against pay raises for soldiers. [00:05:54] Speaker C: And like, this one's overtime and tips, right? Taxes on tips. You shouldn't tax tips. The taxes on overtime are obnoxious. So of course I agree with that. But trying to vote yes on that when you have to vote against other things that you, you know, you disagree with. [00:06:09] Speaker D: It's so funny, Anthony, to see you waking up and coming over to my side. I've been saying stuff like that forever. When there was a bill, I don't know, 20 years ago that I actually read, and I was just like, I don't. I don't get this. And by the way, I didn't read all of it, but I read a lot of the Affordable Care act bill, and I was just like, holy crap, what does this have to do with my doctor and keeping it so, you know, there was one bill that I read like 20 years ago, and part of it was doing something was saving a white spotted owl. That's what actually got me starting reading. It was somebody told me that this is so that all of this pork, all of these people that put in their wish list items, has nothing to do with anything else in the bill. That forever the government has been peeing on our leg and telling us it's raining. They're just doing it again, this big, beautiful bill, you know? And again, the reason I jumped to the end of. Of the game is central bank digital currency. We're not going to get out of 7 or, I'm sorry, 37 trillion debt. It's just not going to happen where we're paying over what, a trillion dollars a year just on the interest of the debt. And here, let you hear it here. First, they're going to lower interest rates this year. You know, we keep telling people we're in the most perfect spot for you to drive up your lifetime income. The rates are high. We, we have safe products to compete with securities. You know, we can explain how that works to you in person. They're going to lower rates. I mean, it's collapsing before our eyes. [00:07:34] Speaker C: Well, Jerome Powell came out and said that he would have done it already if it wasn't for the tariffs. We shouldn't be, we should not be lowering rates. Rates are low. They're just not low compared to what they used to be. Historically, they're still very, incredibly low. [00:07:50] Speaker D: You're right. But hear me out. There's two sides of the coin on interest rates. The savers. We work in Sun City, so we have people that save. They want CDs, they want money market money for their liquidity. They want fixed multi year guaranteed annuities. They want safety. When you know, for 15 years when we could give them 1, 2, 3%. It wasn't very attractive. Still better than the banks, but it wasn't very attractive. Right now we're in a window where, where the rates are really high. So for them, they need it. But you got a whole bunch of this country. And if I have time today, I'm going to get to some of the economic woes that we're in right now that nobody seems to be talking about. A whole bunch of the country is buried in credit card debt. You tell somebody that's paying what they can every month on a credit card at 23, 24, 25, 26% that you want, you want to raise rates or you don't want to lower rates when they can barely. They're making a choice between food, gas, meds, whatever. So sometimes there's winners, sometimes there's losers. So I see both sides of that. [00:08:52] Speaker C: Well, with the credit card thing, think of when rates were at zero, right? We had 15 plus years of zero rates. What were credit card rates then? [00:09:00] Speaker D: Most were zero. We had clients. No, they weren't, Anthony. We had clients that were jumping around on these 0% interest rates. I remember my own, I remember my own. And I was, I was where I could pay them off every month. They were 7%, 9%. One of my higher ones was at a Local credit union and it was 12 and a half percent. And I'm like, oh, you know, if I did have credit card debt, that's the first one I'd pay. No, their rates were not like this. This 23, 24, 26% that was reserved for Sears card, Home Depot. Zero percent, you know, zero percent interest for 18 months. But if you're late on paying it off, it goes back from day one. You know, there, there's always been games with interest on credit cards and floating notes. But no, the, the interest rates were not like this for quite a while. It's, you know, you've been in the office seven years. You have seen such anomalies. You've seen black swan events. You just saw drop bombs on Iran and on Monday the market went up. What you've seen isn't real life, Anthony. [00:09:57] Speaker C: But anyway, I guess only goes up to the moon. [00:10:01] Speaker D: I'll tell you what, find one person that can argue with that logic. I can just tell you once you get your chance to see a downturn, it's going to shock you. You have not seen the psychology of the financial services industry yet. When you do, it will surprise you. I was in the office when the tech bubble burst. I was in the office when a plane hit a building on 9 11. I was in the office for October 7th through March 9th of 09. It's a different day when you have a few quarters in a row where people are scared and you take this economy right now, that is faltering again, if I get to it, I've got some examples to cite for you. There's a lot of people that are on edge, you know, don't forget we still have the geopolitical problems. Ukraine, Russia, China, Taiwan, Iran, Israel, Hamas. I mean, the globe is on fire, you know, I mean it's, it's. And we're on fire too. Wasn't it 117 degrees yesterday at the airport? So, and I, and I thought a little bit about global warming. You want to hear me with, with how my ADHD works? So I have a question about global warming. If we're all going to be dead by 2026. Question. The hottest day on record in Phoenix, Arizona was actually, Anthony, the year you were born. It was, it was June of 1990. So 1990. So 34 years ago, we had the hottest day on record. So if global warming is a thing, it's not very good at it. But anyway, that was a sideline to, to anything, I guess. Anyway, all I'm getting at is I don't give a crap about whether my credit card is 26% interest or 2% interest. I'm telling you the future. I have a crystal ball. I have a tinfoil hat. I've got a bunch of tools. You're like, you are a tool. I have a bunch of things that are telling me that one day you're going to be like, gosh dang, I wish Jer was still alive, because I. [00:11:46] Speaker C: Don'T think you're giving enough credit. Like, I am not going to be dead now. I don't think you're wrong. I, I think it's going to hit and it's going to be devastating. And I've already prepared, so I don't care. [00:11:57] Speaker D: I don't think anything will prepare you for the central bank digital currency being ushered in. I think the day, like when we talk about LA riots, it's easy for me to see it on YouTube clips, see a little bit of on the news. And I'm in Phoenix, Arizona, so I don't feel it if somebody comes down my street. Not somebody, if somebody's. And they block the road. So I can't leave here. What if I have to go to the hospital? What if I just have to go to Safeway and get some outshine bars? So if somebody sets a multi cocktail in my car, I think that's a, that's a game changer. If this country ever goes the way of Venezuela, which, I mean, my gosh, it's almost like we're begging to become Venezuela. The way we're handling our, our economy and our future. If that happens, you're, you're not prepared. You may have some food and water, you may have some guns and ammo, you may have some gold and silver, some cash. Whatever we've told people they should do within the scope of moderation and diversification, you ain't going to be ready. You know, I'm watching the gold right now. Every other dang commercial on AM radio is who's sponsoring which gold company. You know, when the poop hits the fan, when the ship hits the sand, I got to tell you something, you're not going to leave your house to go barter with the other 11% of the country that has barterable amounts of gold, silver. The stores are going to close. You're not gonna be able to get into a Walmart. So you, you know, say the people that listen to us and they've got everything in diversification, moderation. You're right. They have done everything they can, so why worry? I mean, so is this, is it futile? Is it, is it just a waste of my time to do the show? No, there's a whole bunch of people that don't even have the food and water. So I'm trying to reach them. When we look at financial planning, we do normal financial planning. If you listen to the show, you're probably like, what? Oh, you don't, you probably have never done a financial plan. We, we are actually somewhat normal in the office. We talk about diversification. You know, it's, it's so funny because when I think about the passion on this show, it's about current events and the current events we've been on for over three years, we've never missed a week. Christmas today, for example, Fourth of July week. We're not on vacation. We should be, we should be in Florida. We should be in Florida sightseeing. Go to see the new, what is it? Alligator Alcatraz. We should go take a tour. Our president is in Florida today looking at the new Alcatraz with alligators. I'm so excited about this. Anyway, I just, you know, we think that things are, I think for sure, you, Anthony, say you're on the same page. We think things are going the wrong direction. Part of the problem, part of why I don't trust my crystal ball fully. When I want to know, when are we going to go to central bank digital currency? Next week, next month, next year, or in 10 years? You know, it's like the old life insurance thing. Somebody comes to me on how to life insurance plan. Tell me when you're going to die, tell me when you're going to die, and then I'll tell you what kind of life insurance to buy. I'll tell you how much of it. I'll tell you how to do all of this. So I look at it like, yes, things are going the wrong way, but let's say I am right. But it's not going to be for 20 years. Okay? I mean, you follow me? 20 years. I all of a sudden the big I told you so if I'm still here to see it, the thing. So we do. Anthony, you're a fiduciary. You have your securities license. I do the safe stuff in the office. You know, we do help you with how to pay down debt. We help you with what hard assets to buy. We add that. We can help you if you want to become a baby prepper and at least be able to stay in your house for two weeks or six months or whatnot. We help you with space Constraints, monetary constraints. We help you with how to do all this. We help you with how to get food if you can't get into a store. If you've listened to this for any length of time. You know, we've talked about a thing called a tower garden. It's actually kind of cool. Looks like you have an indoor living fountain and it might be your living fountain if there's no food on the shelves. Anyway, I guess what I'm saying in 20 years, if I'm finally right, it's so day to day, we have to do normal financial planning. You know, one of the big things that we're doing because we're in Sun City, we make sure everybody has a plan if they ever need long term care insurance. I wound up sitting next to a woman. I was playing cards. I know you want a conservative financial advisor that likes to gamble with cards. So anyway, so I'm playing cards and this woman was talking about she doesn't have kids. She's like, you know, my, my spouse is older, you know, who's going to take care of me. And I was like, well you. I'm like, you have three choices. You're going to self insure, you're going to buy long term care insurance or you're going to spend down what you have and you're going to go on Altex. You live in Arizona. And the more we talk, I'm like, you know, why would I, why would I offer that advice if I thought the world was ending tomorrow? I mean, I think we're on a road to ending. I don't think it's going to happen tomorrow. Look, look at me being so half full. I am a ray of sunshine today. I think it's the shirt I'm wearing. Do you, Sam? Anthony. You guys like the shirt I'm wearing? Yeah, I commented on your big beautiful shirt the moment you stepped in the rear. My bbs. You like my bs, My beautiful shirt. So. And Anthony, you said something, I don't know, a few weeks ago about wearing the flag as clothes. What? Remind me what you were saying about wearing the flag as clothes. [00:16:58] Speaker C: The flag code. Hold on, let me, I'm gonna look it up. Right. Does it say officially known as the federal flag code, outlines rules and customs for displaying in hang flag. Well, it's not a legally binding set of laws with penalties or violations. Serves as a guideline for respectful display and use of the flag. But that's like where it's not supposed to touch the ground. No dipping. There's something about no Marking. No. Advertising. Not costumes. [00:17:30] Speaker D: Okay, then explain the Olympics. Explain different sporting events. Let me. Let me read what I had ready for you today because I thought we were going to start out with you giving me crap about the shirt. I'm actually. I wore it just to take crap from you. I got this shirt from Jay for Father's Day to wear on the 4th of July. So let me. Let me read something for you. I'm going to go to the bottom line first. If you want more. I had the whole article ready. The bottom line is that it's okay to wear clothes showing the American flag assuming it's just a printed image rather than an actual American flag or part of an American flag. If a garment is made of an American flag, however, you shouldn't wear it as stated in the US Flag code. One more thing here. Why it's okay to wear clothes showing the American flag. Based on this information, many people wrongfully believe that it's not acceptable or even illegal to. To wear clothes showing the American flag. However, this isn't the case. It's perfectly acceptable to wear clothes showing the American flag as long as the clothes aren't actually made from an American flag or part of an American flag. So, I mean, that's kind of good for people to know because a lot of people think that that's disrespectful to our country. And it's. It's actually not. The actual flag should not touch the ground. I don't think it should be burned. First Amendment be damned. I guess I'll pick and choose like any good hypocrite. What I think should be done and not done. But I mean, to wear a shirt that looks like a flag, I think that's okay. Our front gate. I painted the front gate like a flag. You know, I don't think that's disrespectful. I think it's patriotic. I think it's American. I think it's American. [00:19:04] Speaker C: So anyway, and you came with resources. I'm proud of you. You changed your mind. I was wrong. You're right. [00:19:10] Speaker D: Wait, what? Sam, mark that for the YouTube clip. I was. What? Anthony, what did you. What? [00:19:17] Speaker C: No, I'm. I think you're breaking up. I think you're. Anything you're saying now. [00:19:22] Speaker D: So, Sam. Good call. Sam pointed out there's literally a flag used in the logo in the upper corner. So now, kids, you're gonna have to go to YouTube and look up another money show. Hopefully you'll see this big, beautiful shirt that I'm wearing and let's, let's move back on to. I, I don't want to spend any more time on the big beautiful bill. I really don't wear. I, I, I know. [00:19:41] Speaker C: I mean, if we're going to be a new show, though, or news ish show, we definitely needed to chat about it. [00:19:47] Speaker D: I, I know you're right. I just, I'm against it. So I'm not a good, which is so surprising for me because I should be in a favor of anything that a conservative president does, and I'm just not. [00:19:58] Speaker C: I'm a fiscal conservative just blindly follow a party. [00:20:02] Speaker D: What, what country are you living right now? That's, that's not what I see around me. You, you know what I mean? When I was a kid, I, I was born and raised and lived for like 23 years in Chicago, Illinois and suburbs of, and it was just. You were a Democrat. I mean, I, I remember dad, grandpa, everybody. You're Richard M. Daly. I mean, you were just blue. And the old expression I heard much later in life was, you know, when you're younger, if you're not a Democrat, you don't have a heart. But when you get older, if you're not a Republican, you don't have a brain. I kind of, I am very much. I'm against corporate greed. There's a lot of things that, that I, I would go between the two parties. But I can tell you, as a veteran of the United States military, as a small business owner, as a fiscal conservative, I certainly, although I'm against both extremes of the parties, I definitely am more aligned with conservatives, especially because the days of me growing up in Chicago, it's so far gone. The middle ground is so far gone, I think the very last president, that there could still be some overreach of the aisle and some people, you know, talking and maybe helping each other see their side. Bill Clinton. So I mean, saxophone player, romantic man. I mean, that was, I think, my last president. So why don't we move on a little bit? Our show is, the whole mission of our show is to make sure you're prepared, not scared. To make sure you're proactive, not reactive. So even though it might be 20 years out, everything you hear right now, I believe in my heart it's not wrong. It might be early still. I'll tell you what I'm watching next week. You know, today as we record again is the first of July. I hope everybody has a good week. I hope you have a safe Fourth of July or had at this point. You know, I mean, When I do all my research, one of the things that came up a few times yesterday was be careful if you're in large groups, you know, if you go to firework displays, watch the, you know, where are the exits and you know, keep your. It's like, oh my gosh, do we really have to be scared? It was referring to sleeper cells and how that there's a bunch of people in this country that may mean to do us harm. So hopefully if you're listening to this, everything went quietly and once again it was what, what do they call clickbait? Fear porn. Doom scrolling. Use the analogy you want. But you know, I, I don't know. So then I heard that there's going to be another rally which will be today, as you listen on the 5th. Another one of those. It's like it's a no kings rally, but light. It'll be a little bit quieter I guess. The bigger one's coming up on July 14th. No princes, right? No jesters this time. So hopefully you had a fun, safe weekend. What I am getting to here, I'm more worried about Monday through Wednesday, July 6th, 7th and 8th, because if you happen to make your way to Rio de Janeiro, and we did talk about this a week or two ago, but let me remind you because now it's a lot closer than a week or two ago if you make your way to Rio de Janeiro, that's where this year's bricks meeting is. Bricks. Even if we could hobble along forever as the world's reserve currency, the petrodollar for oil, if we could do that forever, the rest of the country is saying we're done with you. It's over. One of the things that shocked me, I just learned it from Joe Jaquin show on the sister Salem Station 1010. Mexico has been invited to join BRICS. I did not know this in my travels. So yeah, Mexico, our neighbor to the south, our friendly neighbor has been invited to join bricks. So that is a clear. I would call it a slap in the face to us. I mean, you know, we, they can have Canada but we seem to have cooperated with Mexico. I guess, I don't know. I don't know. So anyway, so I'm very hopeful that by next week's show we can say like we did last year that you know, they're, they're probably closer to getting rid of us with their own gold backed dollar. I think how it plays out is instead of a BRICS coin or whatever they're going to call it, they're going to orchestrate a new version of Swift. They're going to orchestrate trading in the entire world basically, except for the US they're going to carve out the US to de dollarize further to replace us. And they're going to say you can use your own currencies through our system. How the final game is will be global central bank digital currency. But how it could play out even as soon as next week is they're going to say you can use your renminbi, you can use your yuan, you, you can use your peso. Apparently now you can use whatever it is that you have your loony. Does Canada have loonies still? Canada are a bunch of loonies. So yeah. So next week will be interesting. Sam, are we almost at break time? I feel like I need a glass of water. Anthony needs a sip of iced tea. So yeah, I hope you had a safe and happy and fun fourth of July and Rio de Janeiro. Watch that next week, the big beautiful bill. What else do we need to cover Musk and Trump? Are you watching the little little contest? And we said a bad word there, but I don't want to be censored. So is this World Wrestling Federation? Is this, is this fake or is this real? Now I'm hearing that Trump might want to deport Musk back to what, where is he from? South Africa? What on earth is going on? [00:25:27] Speaker C: Obnoxious. All this is so stupid. [00:25:30] Speaker D: It is. And I mean, how were they such blood brothers just a couple months ago and they break up and now they can't stand each other? What the heck, War of the Roses comes to mind. So, but anyway, why don't we take a break and after the break we'll dig into some more fun stuff. Thank you so much as always for being with us. We appreciate it. You can reach us at 623-523-0444 or email us team anothermoneyshow.com let us know if we can be a second opinion on your finances. If you'd like to meet us and see my shirt, whatever the case is, we'll be here for you. We'll be right back. [00:26:10] Speaker B: You're listening to another money show. [00:26:17] Speaker D: Forever. Another illusion I chose to create. You don't know what you got. [00:26:29] Speaker A: Fixed. Annuities, including multi year guaranteed rate annuities are not designed 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. [00:26:45] 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, 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, never outlive in retirement by adding a pension as a part of your retirement plan. Assets come and go. Income is forever. I'm 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 623-523-0444. Or find us on the web at anothermoneyshow.com. [00:28:00] Speaker A: Remember, all of JR and Anthony's listeners receive a free financial consultation just for listening to the show. Visit anothermoneyshow.com to learn more and schedule an appointment. Thanks for listening to another Another Money show and subscribing wherever you listen to podcasts. [00:28:14] Speaker D: Welcome back to Another Money Show. Thank you so much for being with us, especially on your holiday weekend. I hope yesterday was good and fun and safe and you had a great day. So we were talking about Musk and Trump and their feud before the break, and I guess that's all there is to say. It's either, you know, the 5D chess. Some people say that this is all, you know, calculated. Some people say it's just when you have those powerful of people and they have that much influence and power and wealth, they are going to have problems. I don't know. And I guess I don't really care. I just want what's best for the future for my four sons. So I don't know, I can't worry about all this. So, moving on. Wait, is that right? I'm not good with math or numbers. Anthony J. Nick okay, that's for. And my favorite, Sam. So anyway, uh, let's talk for one more second about protests because when, you know, when I channel my inner Debbie Downer, I don't feel like I said enough. You know, it's past the 4th of July as you listen to this. So either we did or we didn't have a problem. But I was reading a few things last night. The last day of June, I believe it was. There's a no Kings 2.0 protest. Oh, I thought it was a different date. It's. It's July 4th. So it says here, July 4th, we're reclaiming America's promise. Freedom for all, justice for all. And no kings. So it says, join us on July 4th, coast to coast, city streets to small towns. Let's see here who's invited? Everyone who believes in liberty, true liberty, not just the brand sold during election season. Amen to that one. I mean, you know, politicians make some good points. Oh, heck, yeah. And politicians forever have said, I'm going to do this, this, and this. And you know what? They do. Not one of those things. We've had one president in my lifetime. Reagan got real close. We've had one president that said, I'm going to do this, this, and this, whether it pisses you off or not. And guess what? This guy has done this, this, and this. So I'll let you guess which one it is. Let's see here from USA Today. Here's another one coming up in case you need stuff to do. Good trouble Lives on protest scheduled for July 17th. So that's coming up quickly. Got a map here. Map shows there. There's scheduled 280 protest sites, including 20 planned in New Jersey, Pennsylvania and New York. Says here the American Civil Liberties Union, part of the coalition that put on the no Kings, is doing this. Okay? So on the 17th, reach out to us and we'll give you your locations and start times and all that. Anything else? There's a Free America Weekend Women's March, July 4th. It's the whole weekend. Apparently it's created by women's March, urging U.S. community communities to host block parties, take to the streets in protest, build community altars or murals, and take part in Fourth of July festivities with dancing, costumes, music, food, and conversation. I love that. It kind of sounds like the Fourth of July, you know, that fireworks. That's hilarious. That what they just described, I'm Pretty sure was 4th of July as we know it. You know, they also need to add hot dogs, beer, chips, ketchup. The unshakable feeling of dread that this country is doomed and that there is absolutely nothing we can do about it to prevent the inevitable collapse. Our listener, our loyal listener, Alex sent that to me. I love that. It was a shopping list of what we need for the 4th of July shall we move on, Anthony? Let's get to something fun. I've got something fun for you today. Over the years in my financial services industry career, I have been asked about different products and why different people don't care for them. Names come up all the time. Dave Ramsey, Jim Cramer, Susie Orman, Clark Howard. I want to bring up a granddaddy name and I avoid this name a lot of times. I'm not sure why. I guess I will preface this by saying all of everything I'm about to tell you is allegedly. Did you all hear that? This is all allegedly. Although I've got a lot of sources from over the years that sure, you know, all I'm doing is giving you information that I've gathered. Nothing I've made up. So don't sue me, Kenny boy. Ken Fisher, if you're one of our listeners, I want to talk about you for a second. This past week, what prompted me to dig into Ken Fisher again was two different clients brought up the name and said, you guys talk about annuities sometimes and Ken Fisher doesn't like annuities. And I thought, well, that's odd. I mean, It's June of 2025, as this happens. I'm like, here comes Ken again. Like a bad penny. Ken's name pops up a few times a year in my industry. So I thought, let me dig out some of my old stuff and I will tell you the stuff I'm bringing to you today. The first thing I'm going to tell you a little bit about is from Investment News. And this is on May 20, 2019. So I'm going in the wayback machine for this 2019 that was pre Covid. So I don't know if you remember those days, but that was before you had to mask up to walk one direction in a grocery store. So let's talk about Ken Fisher for a minute here. Ken Fisher, infamous. Wait, it says here famous, but I'd say infamous. Look at I'm already changing things. Allegedly annuity hater invested in annuity companies. I want to do this on the show because I know some of my listeners, some of you are probably investing with Ken Fisher. And I'm not going to talk about some of the stuff that, you know, I've heard he's had some personal problems. I'm not going to talk about any of that. I'm going to stick to some of this about his hatred for annuities on purpose. So let's see here. Mr. Fisher's vitriol towards annuities is probably One of the most identifiable characteristics in the public sphere. Print ads with Mr. Fisher's face. Blair, I hate annuities and you should too. More recently, in a video ad for Fisher Investments, he says, I would die and go to hell before I would sell an annuity. However, Mr. Fisher's company, among the largest financial advice firms in the country, was simultaneously investing in insurance companies with significant annuity business. And some of the stakes were quite high. Let me continue for a minute. Wasn't there a commercial anthem that I made fun of a couple years ago on this show where he said, I would rather like kill my mother or my grandmother. Kill my grandmother before I buy an annuity. [00:34:56] Speaker C: The annuities are bad. But again, people love pensions. Love pensions, hate annuities. Forget they're the same thing. It's just marketing. It's all in the marketing. [00:35:06] Speaker D: So let's, let's continue on here. Sandy, whenever you're ready to come over and sit with me. Sam, I want to take about five minutes with Sandy on the show today, if that's okay. So Anyway, Fisher held 2.91 million shares of. Of American Equity stock valued at 85 million at the end of 2014, the year in which, in which Fisher's holding in the insurer was his largest. That same year, Mr. Fisher authorized a column in Forbes calling annuities scumbag products. This guy's kind of extreme. Fisher's position in the London based Prudential plc, the parent company of Jackson National Life Insurance Company, was even larger when it peaked in 2015. 2.88 million shares worth $129.7 million million. Put your little pinky finger up there. So a million dollars. This is crazy. Let's go on a little bit more on this. Fisher Asset Management appears to have sold out both positions by the end of 2016. So again, I said we're on the wayback machine. So this is older news, but it kind of gives you a baseline on how full of, you know, what allegedly Ken is. Ken, I'm sorry. If you're listening, we'll have you on the show. We'll actually have you do a rebuttal on the show if you'd like. [00:36:30] Speaker C: Well, we played a clip on the show once which was Jim Cramer and Ken Fisher, and they were talking and they're bashing annuities. But the problem is, I mean, obviously we work in the annuity world. Yeah. In our office, but we bash annuities too. We bash variable annuities. We don't like variable annuities. If you listen to Fisher's clip, he's bashing variable annuities. The power has annuity. He just says annuity. [00:37:00] Speaker D: Yes. [00:37:00] Speaker C: Doesn't classify. That's like saying you should never buy. You know, what's a good blue chip like Apple? Apple's a great stock, great company. Probably not going anywhere, but that's like saying, I'm going to sell you this pot company that's, you know, this penny stock, and it's absolute trash, and it's probably just going to go away and disappear for forever. But if I just said, I hate stocks, stocks are all bad. And I'm describing that penny stock, that's not describing Apple stock. It's just saying stock, and they're completely different. [00:37:33] Speaker D: Okay, and stop right there, because you are absolutely 100% correct. Sam, twice today, we've actually honored each other in our correctness and our wisdom. But go further. And if you said you hate stocks, but then you people found out later that you owned us, you know what? Ton of stocks. That's my heartburn with this. Let me go a little bit further because I want to give you a couple examples of how, how, why this is going on for somebody who makes his living transferring money to him. So let's see here. Does he really hate annuities? Asked Cheryl Moore, founder of the Moore Market Intelligence, a market research firm. If he hates them so bad, why does he have so much money invested in companies that sell annuities? Allegedly. Maybe he's a hypocrite. Let me get to something a little bit deep, and then we're going to switch gears. We have a special guest in my studio office today, but I want to do a little more as long as I'm going a deep dive on my friend Ken. So let's see here. Here are the top five reason. And this is. This is a commentary piece. This is from annuity news on December 8, 2015. If you reach out to us, I will send you one email with three different pieces. The two that I'm sourcing right now and a third that shows what kind of amount of stock he had, for example, in American Equity. But this one is great. Here are the top five reasons Ken Fisher loves annuities. Annuities are good for. Number one, Fisher investments. Based on his aggressive marketing, he must believe annuities to be a major source of Fisher investment assets under management. What that means. When I just said what that means. How does he grow so much? Is it that crappy sends in the mail, those big glossies that everybody, everybody gets when they're around my age. Is that how he grows? Or is it the commercials where he hates annuities and you're like, oh, my gosh, J.R. and Anthony said there's good annuities and bad annuities, and I would only represent the good annuities. And Ken, you're saying they're all bad. So, anyway, number two, Ken's personal finances. Ken Fisher is in the top tier, as reported a year ago, to be in the sixth of the biggest shareholders of an insurance company that sells almost exclusively fixed annuities. All right, number three, this is where it gets good. Number three, Ken's licensing requirements. Oh, we got to move on, huh? Sam, Just one more. Let me do one more. So Ken's licensing requirements. Advising against annuities doesn't require an insurance license. Insurance agents and advisors who are not registered investment advisors are prohibited by law from advising about the specific securities people own and recommending they use them to fund annuity. However, the securities industry does not prohibit the unlicensed and unrestrained investment advisor from discussing and advising against annuities and recommending their surrender. Or we. We are going to. You know what, Sam, I want to finish this up because I was going to say we're going to get into Kennega next week. I don't want to. I want to put this aside. Remember to email us or call us and I will forward this email with this information so you can read the entire thing and then you can make up your own mind. But let me. Let me do number four and five on this and then I'll drop Ken forever. So I'm going to be like Musk with Trump or Trump with Musk. Ken, I'm done with you after this. Ken and I are on a first name basis. I mean, me and Mel Gibson and Jack Nicholson are too. So you know what I mean. So, number four, avoiding other pesky insurance guidelines. Or they're pesky, are they? It is illegal for insurance agents and advisors to offer rebates. They are prohibited by law from offering any monetary or beneficial inducements to customers in return for purchasing a product. Not so for Ken Fisher. Security laws do not have the same prohibition. And he publicly offers rebates for surrender charges that the annuity customer may occur. What's more, the manner of rebate isn't even regulated. Ken's fine print discloses that the surrender charge is rebated over time in the form of reduced advisory fees. Yippee. My $500,000 investment, which I think that's his minimum, maybe he's up to a million now investment which now becomes maybe 465,000 and I will recover my 35,000 over the course of how many years I lose the earning power of that money for how long. So if an annuity transfer are being rebated with lower management fees, then clients who do not transfer annuity funds must be paying higher fees. If I were an investor that didn't move money from an annuity, I'd ask why I'm subsidizing annuity investors by paying higher fees. And it isn't just the rebating. Because Ken Fisher is not regulated by insurance laws, he is allowed to get away with ads and interview marshals that would be considered misleading, inaccurate and therefore illegal in the annuity world. I won't even read number five because I know I'm beating a dead horse and all of this is older. So do your research. I have not kept up with what Ken is investing in now I just don't care. But I. But I can tell you there are good and bad reps in every industry. There are good and bad products within our industry. And I think that he going on TV saying annuities are bad is very dangerous. So man, I feel like I got that off my chest. It's just weird that two people in one week brought his name up. So I thought let's dig into it for a minute. With that we have a little time to bring a special guest on. And today I kept my shout outs kind of slim for a reason. I only have two Macy. If you've ever heard of Macy, she is our office manager. Well, she's on vacation so Anna shout out. She's doing a wonderful job. I don't know how long she's been in the office but she's incredible. And then when she's on vacation we have an office manager that you've probably met if you've been in the office because she was our office manager for quite a while after she retired. And that is Sandy. So I can't say the one and only Sandy because that is reserved for the one and only Sam Davis. I'm trying to move my screen in case Sandy makes her way on YouTube. Also here, so we have Sandy Rochford. If the name sounds familiar, she's actually my wife so we don't get along so well. But everybody that comes in the office loves her. Look at the way she's looking at me and make sure that gets on YouTube because I want to live this forever. So Sandy runs the office during the Summer, she's a teacher by trade, so she must have a kind heart. And she's also Anthony's mother. You know, one of the things that I like to make sure people understand about us, if you've listened any length of time, we are a small business. We're a fourth generation, fully independent family practice, fiduciary, office vet, veteran owned. We check all the boxes on what should be good for people. You know, the big wirehouses, the big firms. If, and no offense, if you're with Schwab or Edward Jones or Wells Fargo Financial Advisors, there's good and bad reps everywhere. But if you want a personal service, if you think your money is the second most important thing on this planet to your health, by the way, we're in end times, so I say on this planet for a reason. Gabriel is about to blow his horn. It might be on the 6th, 7th and 8th of July, but we'll see. So on this earth, next to your money. I'm sorry, next to your health, your money is the second most important thing. I think so. Somebody needs to care about you. They need to know who you are. If you make your way into one of the big firms in Phoenix and you heard the person on the radio for any length of time, that's probably not who you're going to sit with. Unless you get a quick introductory meeting, you're going to have the rep of the day after that. So with us, you're going to get us. So with that said, I wanted Sandy to come on and tell us a little bit about herself, maybe say how much she loves her husband and son. What do you have to say to us? [00:45:33] Speaker E: I have no idea how to follow that. I have no idea. I just wanted to say hello and wish everybody a happy Fourth of July. Hi, Anthony. [00:45:42] Speaker C: Hey, Mom. [00:45:43] Speaker E: Sam. [00:45:44] Speaker D: And you know, we're recording early in the week, but by the time people hear you, you're wishing that they had a safe and happy fourth of July, right? [00:45:51] Speaker E: Well, yes, most definitely. Most definitely. And I just want everybody to know if they come in, I do provide water and coffee. And if you'd like, I could provide some danishes too, for you. [00:46:05] Speaker D: Danishes. Do you see what I'm saying here? [00:46:07] Speaker C: Sorry, Ashley's the liar. I have never seen danishes. I have never seen anything, trust us anymore. You ruined all three years of credibility that we've built over this show and it's gone, gone now. [00:46:18] Speaker E: Right, okay, so maybe peanuts. I've got cashews and dry roasted nuts, but no danishes. [00:46:25] Speaker D: I'm and thanks to two of our different friends, sl. We have Cheetos in the office pretty much non stop. We have mints. We have Trader Joe's mints that rival Junior Mints, but they're way better. So. And one thing over the years that a few people have picked up on. If you make an appointment with us late in the day, if you're the last appointment of the day, for example, is it okay that I talk about this Sam and Anthony? You know, Sandy's going to start bringing danishes apparently every day. Right now she does do coffee and water, but we in the back of the office have a refrigerator. So if you're the last appointment of the day, we might offer you an adult beverage. Is that a quick or is that a prohibited. Is that a prohibited conversation? [00:47:05] Speaker C: That one will find out. [00:47:07] Speaker D: Yes. [00:47:07] Speaker C: I mean, it's not that. It's not untrue, though. [00:47:10] Speaker D: Well, right. And. And if you're in the compliance, clients. [00:47:13] Speaker C: Bring in stuff too. [00:47:14] Speaker D: Rehab. And if. If you're in the clients in the compliance department. I'm not talking about alcohol. Talking about, like iced tea. Ask Anthony. Anthony loves iced tea. What else, Andy? What? What? Why do you like working in our office so much? [00:47:30] Speaker E: Oh, I just adore being around you and Anthony all day long. [00:47:35] Speaker D: Wow. It's not. There's not even a cloud in the sky and I just got struck by lightning. [00:47:39] Speaker C: It was that slander. What happens when you're just obviously lying? [00:47:44] Speaker D: I am not lying. [00:47:45] Speaker E: You guys are fun. [00:47:46] Speaker D: We need to teach the word allegedly to Sandy. Every time she says she cares about us. She just needs dad. [00:47:52] Speaker E: Allegedly. [00:47:53] Speaker D: Allegedly. [00:47:54] Speaker C: There we go. That seems safer. [00:47:56] Speaker D: So it's fine. No, it's. It's. This is so cool. Because, you know, we want people to know who we are. We don't have the quotas and pressure of other firms. We don't have to see six to eight people a day. Our normal day. And I don't even know if you know this. Sam. Sam. But a normal day for us, two to four appointments, as much as we can, we try to sit together, especially when people are new. If there's people that want a little more the engineering take, they might just want to sit with Anthony. If they want end of the world stuff, they sit with Sandy. If they want big picture storytelling, they sit with me. So I just got another dirty look. This has been one perpetual dirty look from Sandy, our office manager in the summer. So, you know, part of our whole thing with this. We know all of our clients. We think that sooner or later there's going to be problems with the banks. You know, the banks that have, they literally have no money. They have 1.3, I believe it is, percent coverage through the FDIC insurance fund. So. So when there's a problem, I think you are more likely to hear it from a small family practice than you are out of the blue suit, white shirt, red tie, highly polished shoe advisor over at your big bank or wirehouse. So we just want to make sure you met Sandy. What else? [00:49:15] Speaker E: Nice to meet you all. [00:49:16] Speaker D: It was nice to meet you all. Sandy is very casual. But I'll tell you what, if you can make your way in just to meet Sandy and meet Macy when she gets back, it's worth your while. They're both super sweet. May not to me and Anthony, but to to you. They're super sweet. [00:49:29] Speaker C: Well, Macy is nice to us. [00:49:31] Speaker D: She is. Macy's nice to us. I'm nice to you, too. [00:49:35] Speaker C: You're nice to the dog. [00:49:36] Speaker D: Did I mention there's not a cloud in the sky or did that. All right, I know we're being silly now and we need to wrap it up. I know time is getting towards the end. We are in the greatest country on the planet. I really don't think anybody can debate that. So we do hope you've had a wonderful week. You know, we really, we're here for you if we can help you in any way. You know, at least take me up on emailing over to you the articles because I'm on a. I'm on one today on Ken Fisher. So thank you so much for being with us and we will be back again next week. Of course. Anthony, do your magic. [00:50:11] Speaker C: All right, so 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 can reach us@team another money show.com. find us on the web. Another money show.com. you can book appointments straight from the website. Give us a call, 623-523-0444. That number again is 623-523-0444. Check us out on YouTube. Remember, if you're reaching out, there are no minimums. There's no cost for an appointment. There's really 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. [00:50:58] 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 investment advisory services offered through Brookstone Capital Management LLC, BCM. A registered investment advisor, BCM and Rochford Financial are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results. [00:51:37] Speaker D: I think we can all agree Losing money sucks. No one likes to lose money, but Outside of the one month downturn in 2020, the biggest Black swan event in modern times, has anyone really felt the pain of a stock market loss? Has everyone forgotten how devastating 2008 was? What about the dot com bubble? Are we all so naive as to think that this could never happen again? Hi, I'm J.R. rauchford, host of another money show with almost three decades of experience. What if I told you I don't care if the bubble bursts again? Because there's a way to make sure that market downturns don't throw off your retirement assets. Come and go Income is forever. Protect your retirement by self funding a pension and you know you'll never outlive it. You may not have been lucky enough to have a job that offered a pension, but that doesn't mean you can't start your own. We can help. Reach out to us at 623-523-0444. That number again 623-523-0444. Or find us on the web at anothermoneyshow.com and let us help you not worry about your retirement. [00:52:53] Speaker B: Fixed indexed annuities can help protect your retirement savings against market ups and downs nationwide. Specifically, Peak 10 can help protect against market risk and provide guaranteed income for life. Peak 10 also has an optional rider that offers an immediate 20% bonus based on your principal applied to your income benefit base. Call us now at 623-523-0444. That's 623-523-0444 to connect with a qualified advisor Investment Advisory Services offered through Brookstone Capital Management Management, llc, a registered investment advisor. Guarantees and protections referenced within are subject to the claims paying ability of Nationwide Life and Annuity Insurance Company. Nationwide P10 is issued by Nationwide Life and Annuity Insurance Company, Columbus, Ohio. Neither Nationwide nor its other entities are associated or affiliated with Brookstone Capital Management, LLC. [00:53:41] Speaker A: Got questions? Call Rochford & Associates now at 623-523-0444. That's 623-52304 444. If you've got credit card debt, you are not alone. I'm Matt McClure with the Retirement Radio Network, powered by Amerilife. Consumer debt is piling up in this country. In fact, the Federal Reserve bank of New York says as of this year, Americans hold more than $1 trillion in credit card debt. That's trillion with a T. And the average interest rate, it's hovering around 20%, sometimes even higher. That means if you're only making the minimum payment each month and most of your money isn't even touching the balance, it's going straight into the lender's pocket as interest. And that debt, it adds up quietly, consistently, and often painfully. One of the smartest money moves you can make is to avoid going into debt in the first place. Robin Growley is head of consumer deposits at bank of America. [00:54:37] Speaker F: Even if you're spending with a credit card and you have a bit of a higher limit, don't max that out, right? Just spend with what you've allocated for in your budget. But any time you're spending on that credit card, you have to make sure that you're paying that monthly balance off on time and in full because that's really the key to building your credit history. [00:54:54] Speaker A: But maybe you're not there right now. If you feel like you're drowning in a sea of credit card debt, there is hope out there. A debt management plan often offered through nonprofit credit counseling agencies can help you consolidate those payments into one monthly amount, often with lower interest rates. These aren't straight shady payday loans or too good to be true ads. Experian says these are regulated, real programs built to get you back on your feet. And here's why that matters. Your credit score. Growley says it's not just a number. [00:55:25] Speaker F: Well, a good credit score is so important to our financial journey, right? And all the doors kind of that good, good credit score can, can open for us. So things like renting an apartment or getting a favorable rate on an auto purchase, a good credit score is so important to be able to do those. [00:55:41] Speaker A: And so if you've been avoiding your statements or feeling the stress build every time your phone lights up with a balance alert, make a plan and ask for help if you need it. Because this isn't about shame. It's about taking back control. With the retirement radio network powered by ameraLife, I'm Matt McClure.