[00:00:00] Speaker A: Any examples used are for illustrative purposes
[00:00:02] Speaker B: only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.
[00:00:18] Speaker C: This is another money show. Get set for another hour of the latest financial information and economic news affecting your bottom line. J.R. and Anthony are committed to helping more Americans like you optimize their inc. Reduce their tax risk and reach financial freedom. So let's start the show. Here are your hosts, Anthony Correio and JR Rochford.
[00:00:42] Speaker D: Here we are, your hosts, Anthony Correjo and JR Rochford, taking a break from our day to day as financial advisors with Rochford and Associates, fully independent, fourth generation family office right here in Sun City to bring you news you may not find on those other financial shows. We're aware the last thing you need is another money show, but we appreciate you being here.
[00:01:04] Speaker A: We do, we do. Take it away. Yeah. So now it's my turn. So now I get the next 53 minutes or whatever.
[00:01:10] Speaker D: So good night.
[00:01:13] Speaker A: Anthony, take a nap. I'll be back with you in a few minutes. I'll rustle you when it's time that I need your feedback. So, you know, we start with shout outs. And I gave a little shout out to Kelly and the people at Ford Strategies last week. I want to add AMER Life this week. You know, this radio show, this is not us. We're not radio people. I mean, we got this opportunity over four years ago and it was because of AmeriLife. It was because of Forwarded Strategies. We met Sam Davis. I mean, all this stuff has been like a whirlwind. But we had a broker trip, we had a, we had a meeting, we had a couple meetings this past week in Aspen, Colorado, by the way. Aspen. Shout out to Aspen. What a beautiful city. We did the gondola ride. We actually, to answer Sam, your question, we actually saw aspen trees. So that was kind of cool. I didn't know what they were. I'd ask Sandy, which trees in Aspen? Like, oh, yeah, I've seen those before in my life. So yeah, beautiful.
We, what else did we do? We walked around the quaint little city. We stayed at a hotel called the St. Regis. You want to talk about nice, beautiful, classy hotel. We checked in and it was a four day trip that we were there four nights. We checked in on Wednesday, which is why we recorded last Tuesday, by the way. And then Sandy and I Had a question on Saturday, went up to the front desk and the not even the dude that checked us in, a guy that just was there behind the counter, knew our last name and said hi Mr. Rochford. And I was just blown away. So the whole trip we've got our own bartender. So if we get a chance to make our way back to Aspen. So shout out to Benji. His real name is Benjamin, but man, what a cool dude. He found out it was our anniversary on Friday.
If you want to send cards, send them to the Sun City office. Our Sandy and my anniversary was Friday, June 5th. So we get a big plate of chocolate covered strawberries and a nice card sent to the room. So we just figured it was forward strategies. I mean they had a little welcome bag first in the room when we got there, but we thought, you know, it's our anniversary. Turns out it was the bartender, Benji. So either A, Benji is the most customer service centric person on this planet or B, we drink too much because we're in the bar. Maybe we're in the bar too much. And Benji felt pressure and obligation to reward us for our patronage. Anyway, so that was wonderful. I, Adam, had a marilife because this whole thing, this radio show takes more people and more backing and more support than you would ever imagine. It's not us just showing up. I mean, for example, you know, Anthony's in Glendale, I'm in Sun City, Sam's in Georgia, Amerilife. The people that run the show are in Florida, you know, Ford Strategies, they're in Tucson. So this, this show is, is a nationwide effort to bring you this stuff every week. So with that said, big shout out to all of our work partners.
Another quick shout out.
We had our men's networking group this week, but it's no longer just for men. So if you want to meet us in a casual setting, this was, this was month three in a row that JD showed up, who's a loyal listener. But so yeah, come meet us. We meet at throne on the second Tuesday of every month at 4pm so that's around 67th and Bell. And it's casual, there's no dues, there's no speakers, no nothing. Just show up, meet people, hang out. Throne does a great job. We, because of the new co ed nature of our meeting, we had a lot more people there than usual. So when we got there, they anticipated that they had the tables set out differently. They had a big thing of water out and cups and Kyle, our normal server did great. So the owner was there, Tiffany Shout out to you. One of their air conditioning units was having some trouble. So one of the guys, guy named Vic who's been to the meeting before is an air conditioning guy. So I picked up the phone yesterday and reached out to Vic and hopefully he got a hold of Tiffany. And so it's, it's just a small world and you know how it works. It's not what you know, it's who you know that helps you get through it. So anyway, good on Throne and if you want to join us, we'll give you more details.
Our buddy Kevin was in the office. So I, I, you know, we gave him a shout out last week. We rely on him every week, the feedback. Even while I was in Aspen and he knew I was in Aspen, he, he gave me feedback. So I, I just, I want to shout him out. Our buddy Art drove into the office yesterday and today, by the way, we're recording on Thursday 11th June. So Art, shout out to you. Art is still listening every week and he took the track, I think, what do you say? Anthony was an hour and 15 hour and 20 minutes to get in the office. So we, we appreciate that.
Yeah. So good to see you Art. I mean it's always a wonderful conversation and it's the usual appointment. So Art comes in, Anthony helps him with, with the financial business and then we sit and you know, BS and solve all the world's problem.
An hour and then people are on their way. So great to see you.
[00:06:12] Speaker D: Couple of days to Kevin because I'm still behind on all the analysis he sent me. So I told him at the happy hour, but now he gets to hear it online too.
[00:06:21] Speaker A: And you just did, you just gave Kevin his apology. Because I guarantee at 5 o' clock in the morning he will say, oh no worries Anthony, he'll text me. I don't know if he texts you every week like he does me, but it's, I, I, it's a lot.
And at first I was like, wow, I mean this, this guy must be bored. And then I realized, well he, he's passionate in life. I, I mean he makes the time and I just greatly appreciate it. So that's kind of cool.
A couple things from this week that are, that are just heavy on my mind and I am going to start today's show before I get into my usual, you know, tinfoil hat wearing, card carrying, conspiracy theory stuff, I, I want to bring up dinner seminars because we were with other advisors in the Aspen trip and, and some of them do dinner seminars. We have a group of advisors that they're really genuine people. See, I've been with this particular agency since 20.
I'm sorry, 2002. So I've got to know people. And anybody that's not really, you know, up standing forthright, you know what's in the best interest of client, they wash themselves out of this, this agency. So the guys that I met that do dinner seminars, they're doing it in your best interest. And I got to talk to some of them and I, I just, you know, we, we've got a, A client who went to a d. Dinner seminar recently.
And, and I will tell you something. The, the, I, I believe the pressure that she endured. You know, some of this stuff she asked me after going to the seminar. I was like, oh my gosh. I mean. And I, the only thing I want to bring up about dinner seminars, be very careful. I mean, if somebody's laying out 10 grand or whatever it is to make sure you get a nice dinner at Arrowhead Grid Grid Grid Grill or Flemings or whatever, there's got to be a reason. So they need 20 couples in the room. They need 10 appointments, they need five closes. It's a machine. So as long as you are used to going to timeshare sales presentations and you don't succumb to pressure or as long as you know what you're getting into that, they, they do want to sell you something. Okay, have a nice meal. But just be careful because it's, it's. The seminars have been heavy on my mind. We, I haven't done them since the late 90s, early 2000s, because I had a bad taste in my mouth. I mean, we, we were really, we were taught the product, and the seminar was based around the product. It, it wasn't doing a seminar to help people. And then they come in and we get to know them. So if you didn't fit into our little net, we didn't catch you. So anyway, I want to go financial for a minute. There is so much going on. You know, the inflation numbers came out yesterday on the 10th of June, and they weren't good. So, you know, I haven't said it in a while, probably a year now, but if inflation even goes up 1%, 2%, you know, it is right now 3, 4%, but we need deflation for a couple years because, you know my old analogy, if I'm beating you with a stick and I hit you 20 times with the stick, and tomorrow I only hit you five times, I'm still hitting you with a stick. And the five times are on top of the 20 times I hit you yesterday. So your bruise is getting bigger. You know, the inflation is problematic. And I can tell you, you know, the whole thing with the Fed, are they dovish, are they hawkish, is the new person? You know, none of it means anything to me personally. I want to see what things cost at the grocery store. I want to see what the cost of gas is.
It's all intertwined with the, the conflict, this skirmish in Iran.
It's really, the Fed is, they've lost control. And by the way, the Federal Reserve, they're not federal, they're not a federal agency. They have no reserves. So let's, let's change the name to when we get a chance.
But with inflation, they, the likelihood is that the Fed will have to raise interest rates.
Obviously we have the new Fed positioned carefully. Who is somebody that wants to lower interest rates. So this is going to be a tug of war coming up and I'm looking forward to see how it's going to go.
Julie. Julie. I talked to Julie last night. You know, messenger, we don't talk. She's in a different state.
She's like, tell me about gold and silver. You know, in this environment with all the geopolitical pressures, you know, the interest rate environment, the inflation, the devaluation of the dollar, the unbelievable stock market manipulation, why did gold do the right thing? And then so far this year it's retreated so much so. And Julie, you are right to have questions. My bigger concern is silver because my understanding is they need an ounce of silver and ever the Tesla, they need silver and cell phones. They're going to need it for data centers and AI. I mean, it's just, it doesn't make sense. But I will remind you, gold is still over 4,000 an ounce. Silver is still over $60 an ounce. So compared to one year ago, today, we're fine. And I think when the Iran war eases up or settles down or starts its conclusion, if that happens, you will see the resume. You will see the precious metals market resume. That's my thinking. So. But you know, we can always get Joe involved too. We can always get Joe back on the show and have him really focus on how to explain to our friends and clients why this retreat is taking place.
Let's talk for a second. We don't have time anymore to remind you of the banks, but Anthony and I talked about it for a second yesterday. I need you to understand we have had a beautiful run in the banks since the run on the banks in the 1920s.
So nobody cares about whether or not the banks have money. I do want to remind you, if you go on fdic.gov and you do a little poking around, I can show you how to find it. And you get to the deposit insurance fund. It does only have 1.4% of coverage on your money. So if you have $100 in the bank and we have a modern day run on the bank, you can expect to get back $1.40. Let me put that out to you.
Anthony thinks it doesn't matter because it just won't happen. I think we are.
[00:12:32] Speaker D: What I said, I said that's not how that works. If you have a hundred dollars, you're gonna get $1.40 back.
[00:12:39] Speaker A: You're not gonna get anything. No, no, you're not bringing me on
[00:12:42] Speaker D: the banks where there is a run and they've got a hundred billion first.
[00:12:47] Speaker A: We haven't had run since the 20. All you have to do is, is if you don't think we can ever have a big banking failure problem, whether it's due to, you know, subprime auto loans, you know, private credit, commercial real estate, any of the influences that are stressing it behind the scenes. If you don't think we could ever have a run in the banks again, there's no reason, who cares how much reserves they have. But we do a compare and contrast in our office. We think you should ladder your money out. We think you should look to see what you have for income. We, we need to see what you have for physical cash at home until the great reset into the central bank digital currency. We think you should look at insurance companies. We think you need to have money in the bank. You've got to pay your insurance and your phone bill and your rent or mortgage or whatever you have. Or we know that, we just think you shouldn't keep too much in the bank. And I add to it, which is not a concern of Anthony's. I get that. I add to it. I think we're in the most unchartered territory we've been in, in the history of the world. So I think it's almost, I think it's at least a coin toss. I think it's 50% chance or greater that the banks are going to struggle and if enough of them go at once, they're all going to go. So I think you should know if your money's covered. You know, we work in Sun City. There's a lot of people that they don't want the risk anymore of stocks and bonds, they've gone towards safety. So our office is a great fit. We can help them figure out if you should have cash at home. You know, what do you do about fire, flood, burglary. Should you tell your kids? We talk about all this, we talk about how much you should keep in the bank. Should you go to an online bank like Ally or Capital One, which is now the same company as Discover. So if you had a Discover card, you have a Capital One card. Those two have merged. I'm sure you know that or they're in the process of, or something. Who cares? I don't care. I don't even know what stage they're at. But I just want to bring up the banks because, you know, we, we've railed on the fact that other countries, you know, Lebanon, Greece, Yemen have had a bail in. I've told you, you need to understand the word bail in because it could happen here. It's not off the table.
I would say, Anthony would say more likely, don't worry about it, you know, conduct business as usual. I would say still, still worry about it. Worry about it enough just to make sure you've done the best you can and then you don't have to worry. We just, you know, we run into people every week that have numbers in the bank that are higher than I would be comfortable with. And we have solutions.
We have CD alternatives. If you have a one year CD that has 1.4% coverage in case there's around the bank, we've got an insurance product for one year, works the same way. You know, if you leave them within the year, they're going to strip your interest, they're going to give you a penalty. But it's one year. Our rates are usually, I won't quote a rate here because I can't do that. Our rates are usually higher than the banks. But you have 100% coverage, you have 100% guarantee on your money. These companies keep reserves. They have to, they're mandated. So they're in each of the 50 states. Whereas the banks are covered under FDIC, which is federal and that means all 50 states under their insurance. So we do have solutions. Speaking of insurance companies, I'm sure you've noticed our show is not financial. It's on current events and how they are likely to affect your finances and your life and your kids and your grandkids and so forth. We, we. So we don't spend a lot of time on financial matters because that's the case. We don't spend a lot of time talking about what we do. Like exactly what we do. Anthony's passion in this industry after his first eight years, July will be eight years that Anthony's been in the office is on income. Nothing wrong with income if you've heard our commercials. You ever made a dumb financial mistake? You know, when you're at work, you know every two weeks you're getting another paycheck so you can weather that storm. We help you set that up. In a day and age where pensions are becoming a thing of the past, we can help you to do your own pension. Here's something I want to tell you. The word annuity. Once in a while we run into people that read a book by Susie Orman or they see an ad by Ken Fisher or they watch Jim Cramer and they think that annuities are the anti. You know who. I can tell you something. Yes, there are good and bad annuities.
I'll just focus on one that Anthony did recently for a client.
It's an annuity where the person's going to get an income for lifetime, let's say. And I'm not going to give the client or the amount, but let's say somebody puts $100,000 into Bitcoin or gold and silver or a bank account or a stock and bond.
Stock and bond. If the market crashes by half, you lose half your money. There's your surrender charge. But let's just go for the income play. You've got this money, 100 grand. You start using it next year or five years out, and then you live to 82.
And that's basically when your money runs out. But at 82, you don't die. You fool the mortality tables and you wind up living in 92. If you've run out of your money that was in stocks, bonds, banks, crypto, whatever it is, you run out of money, you better hope Social Security is still solvent, by the way. We're going to talk about that today for a second.
So. But if you have an annuity, a fixed annuity with Anthony, with a good reputable company, and yes, we are fully independent. So we help you find that if you, if you run out of money at 82 but you pass away at 92, you keep getting your thousand or whatever it is a month for life.
So go ahead and reach out to us at 623-523-0444 and let me know if your broker has told you about these options. Let me know if you know of any other financial vehicle that can offer you lifetime income. I think it's important. So. And I, and I think it's getting more important.
So I will put the banks subject to rest.
I'll be glad to send you YouTube videos. You know Anthony, I did a 15 minute long YouTube video that focused on DIF and it focused on bail ins. And we did that in 2020 when we had some downtime and we were stuck in our homes. I'll send it to you. It's very interesting. Nothing's changed. We've just gotten more insolvent as a, as a country. The banks have no money, sorry to tell you that.
So a lot going on financially. The banks are not safe. The stock market I would dare to say is not as safe as it probably could be. Bank of America came out this week and yes, I had heard from several people. Am I going to bring that up? Bank of America is a pretty big company, you know, trillion dollar company. They also own Merrill Lynch. So they also dip their toe in the financial advising space in some shape or form. And they are telling people like 17 out of their 20 metrics that go to say sell stocks are lit up right now. They're basically saying things are overvalued. We have been saying that to you for four years. The bottom of the 2008 Great Recession was, was on March 9th of 2009. We've had a over 17 year run up in the markets. If you subscribe to the old theory buy low, sell high, you should probably depending on your situation. I gotta be careful. I can't give specific advice. You should at least talk to your agent. Talk to us, you know, look at your stuff. You should be aware of buying high and selling low. Maybe you should be dollar cost averaging out, I don't know. But I can tell you right now, you know, the last two or three years, Jamie Dimon, he called it a storm and a hurricane. Now B of A is stepping up to the plate. So the difference between the middle class and the 1%, the difference between people with more than $5 million and people are less. They usually find a way to get out in time and they leave us holding the bag. So I will tell you, we've been screaming about it, talked about the buffer indicator, we've talked about the PE ratios and we are being distracted. I tell people all the time the Dow Jones industrial average only has 30 companies in it. Very easy to manipulate. The s and P500 over the past decade has been floated by 10 stocks or less. The big gorilla in the room right now for tomorrow or today or yesterday as you hear this SpaceX, it's going to do the big IPO. Anthony talked about it last week.
They decided the company's worth, what was it? 1.75 trillion. You know, the IPO is going to come out at, I think it's $135. We've had phone calls. I heard Anthony talking to somebody yesterday. I talked to somebody the day before.
One of them called Schwab. We recommended they called Schwab and see what they can do there. Schwab said, you have to have $100,000 in an account with us before we will let you in on the ipo. So that's interesting. I don't know people's experience yet on whether they're able to buy it or not. We are not stockbrokers. So we, what we do is a little bit different. You know, we, we can help you with how to find somebody or get things done, but we have to be careful with that. So the, the SpaceX, it's very interesting. There's a lot of people that are smart and they're buying stocks that are related to SpaceX. You know, I mean, I still, we just told you a month ago, Elon Musk said you're not going to have income, you're going to have universal basic income soon.
And all of a sudden his company is going to be the biggest change in the financial landscape of the history of the world. Very interesting.
I think the motivation of the people that I've talked about SpaceX the last month or so has been primarily FOMO. The fear of missing out. I don't see it as people doing this. I mean, you have to have a real, you have to have a long exit strategy potentially because this could be a grand pump and dump. This could be like a new version of what happened with Facebook many years ago. I don't know. So you better, you better have your plan in place. The one thing I will always tell people when it comes to buying and selling securities, this is from my experience of when I was a securities licensed advisor and I didn't have Anthony, my answer to everybody when they would say, should I buy this stock? Whether it was over the counter pink sheet, whether it was dividend, Payne blue chip, my advice to everybody had nothing to do with the stock, had nothing to do with the product. It was, I would say, diversification and moderation. And that has never changed. I am now in my 60s and fast forward in this industry three decades later. Diversification, moderation. If you're worth a million two and you're going to buy $120,000 of SpaceX. I don't know that that's smart. I wouldn't know unless I sat with you. I wouldn't, I wouldn't be able to advise on that. Anyway, I'm just telling you, be, be awake, be nimble, be aware of your surroundings. I do feel, my gut feeling is a market correction is inevitable. I feel like it's coming closer. I feel like the last four years we've been on this show, it's inched closer and closer. Obviously, last Friday was terrifying to people. All a sudden, my phone in Aspen, Colorado, and people are asking me, is this it? I mean, first of all, how would I know? I don't have a crystal ball. Second of all, it's going to take a little while because, you know the term dead cat bounce market takes a big dump and then everybody gets nervous and then don't worry because the next day it goes up. Well, yesterday was a bloody day too. So on 5 June, on 10 June, these are scary days.
We've got a guy that we're working on getting on the show that works in the data center space and basically I'm going to ask him questions about the fact that, you know, Nvidia and all this stuff. Open Space, ChatGPT, data centers. It's all one sector, it's all one industry.
So that's very narrow. And if that industry falters, this market could make 2000 look like nothing. The technology boom we had, this is bigger in scope. So we're going to get him on the show soon. In the next couple weeks. We've got another guy that we're going to work on getting on the show. You know, we've talked a lot lately about water shortages and droughts. We had Jeff on the air a few weeks ago. That, that kind of did alarm us. We've got a guy who says none of that's true. He's got the opposite take on it. I can't wait to hear it. I've gathered some articles to have handy when he comes on the show. So I reached out to him yesterday, gave him a couple dates, got another guy I'm going to have on. We want to have a football player on. You know how we had a comedian on in the past? We want a football player. We've. We've got a new friend that we met at our meeting in Aspen and he's a retired football player. And in his retirement he is a financial advisor. So his name is Dave. He was actually recruited by Tom Landry, he's with the Cowboys. He was with the Broncos, and then he was. He ended his career with the Jaguars. So we're working on getting him on. So we got stuff coming up, so stay tuned, as they say.
I think we're getting close to break time. I'm going to ease into something. I'm going to jump a little bit from SpaceX to something that I'm pretty sure everybody I know counts on and that Social Security.
So there's all sudden, there's news this week on Social Security. Let me just tease you with that. I want to get to break time because I don't want to start that and rush myself. So let's do this. We're going to take a break. We appreciate you being here.
We do want, you know, in the office, we do financial advising. We can advise you on Roth conversions, on how to set up an ira, all that stuff. But here on the radio, we want to make sure you're prepared. Not scared, proactive, not reactive. Reach out to us if we can help you do that. We're at 623-523-0444. Or you can email us at teamnothermoneyshow.com we'll answer your questions. We would love your feedback on the show. I mean, that's really important to us. We don't have sponsors. I mean, it's, you know, we don't. We. We really don't know who's hearing us and what they think. So we. We'd value your opinion.
One last thing. YouTube channel, it's going well. Shelby sent us a little certificate thing. We went over 525,000 views of our videos and our shorts. So that channel, for a tiny little channel with, you know, just a little bit over 700 subscribers, it's going like gangbusters. So you can catch our shows there through the tab that says podcast. So you can reach out to us through there. So thank you for supporting us. We'll be right back.
[00:26:49] Speaker C: All of JR and Anthony's listeners receive a free consultation just for listening to the show, visit anothermoneyshow.com@rochford and Associates. We know the road to financial freedom is not a straight path, and the journey is different for every family. And in times like these, we want you to feel confident that you're safely on track to meet your retirement goals.
[00:27:16] Speaker A: We want to ask you to prepare for economic chaos. We want you to prepare for bank volatility. We want you to ensure and protect your assets. With a smart plan, our team can
[00:27:25] Speaker C: help you make the most of your hard earned savings using strategies that are right for you.
[00:27:30] Speaker A: I want more people to sit, sit down with us. When we talk about a financial plan, it's different for every person we meet. We tailor make our plans.
[00:27:38] Speaker C: Schedule your no obligation consultation today by calling 623-523-0444. That's 623-523-0444.
Rochford and Associates. Veteran, owned and proud to serve Americans like you.
So let's break down the big stuff without the boring. It's money time. This is another Money show.
[00:28:08] Speaker A: Welcome back to another Money Show. Thank you so much for being with us. As you know, we greatly appreciate it. I always say we're little fish in a big pond. And so we, we, we greatly appreciate you supporting us. One thing I forgot to mention about going to Aspen and we've been traveling a lot. I was in Laughlin a few weeks ago. Sandy and I were in Snowflake. Anthony and I were in Aspen. Anthony was in Mexico. We've been traveling but now we are back and we are going to our routine will be back to normal. I did get my very first airport pat down, so I'm kind of excited. Anthony usually gets pulled and he gets the beard, but I got my first one and what I realized about at least the TSA agent that I got and I know they're doing important work and they're sure they're underappreciated, they have no sense of humor. So the guy asked me if I want to do it right there or get a private room. And I kind of gave him the romantic eyes and I said, well, how long is this going to take? And I made a couple of jokes and I shouldn't have. So I wanted him to teach Sandy some of his techniques and yeah, nothing. Things are not fun. I just want to warn you, if you're getting ready to travel by air, don't make jokes if they pat you down because they don't think that's funny. I guess I'm lucky I didn't get tased or pepper sprayed or taken into the private room.
So let's do the Social Security. You know, I guess I should bang out the Festivus report real quick. I found a really, really short one because I just don't have time today. So here's the report of the day. Amount wasted. $2,494,321. The National Science Foundation. Oh, they sound important. The National Science foundation has committed 2.49 million to programs like the center for environmental sustainability through insect farming. Kevin, if you're listening, run that through the Jargon generator. So yeah, I said that. The center for Environmental Sustainability through Insect Farming, that's where our tax dollars are going.
Says here, it says here. And the center for Insect Biomanufacturing and Innovation, which promotes insects as the next frontier in food for humans as well as pets and livestock.
Aside from being gross, research shows the hype is crawling ahead of the science.
Industrial insect farming faces serious economic and technical roadblocks that make large scale production costly and unreliable. It's time to shut down taxpayer funded bug buffets.
So quick one this week, but I thought it was interesting. So you know, you're going to eat bugs and you're going to like them. Maybe that's true. And our government's going to help get you there.
Let's jump into Social Security just for a second. I mean we all know what's coming.
It's a giant Ponzi scheme. So we all know that this week. Let me get to two things here. This was from the 9th of June on ABC15.
So this is actually making it something to some of the mainstream news. So Social Security's retirement trust fund faces funding shortfall earlier than expected.
Well, not expected to me. I've been shouting alarms about this for 20 something years. I remember keeping every year's Social Security statement. Remember the old, you know, before they went digital, you know, to save the trees, the environment and maybe even some cost. They also didn't want you to read it. I used to take those every year. I saved them. They were, they were like four pages green and white. And I pointed out to people over the years that when the insolvency gets here, you would think each of your statements would reflect one year sooner, but several years they jumped by three or four years. And I was like, well that doesn't make sense. They've known this was defunct, you know, years and years ago. It's just a can they have to kick because whatever politician is, is going to make the changes which are coming soon, apparently is not going to be too popular and they'll be out of office. And that's what this is about anyway. Social Security's retirement fund is projected to face a funding shortfall in 2020 32. This is 2026. So if you're in your 20s, 30s, 40s, 50s or 60s, listen up here. So shortfall in 2032, a year earlier than last year's projections according to an annual report released Tuesday. While Medicare's hospital insurance trust Fund will be unable to pay their full benefits in 2033, which is unchanged from last year's estimate. Oh, wonderful. So your Social Security is six years from changing and your Medicare is seven years from changing. That's awesome. The looming challenge for the programs is a partial funding gap, not a collapse. Oh good. Even after the trust fund depletion, the system will continue issuing benefits, albeit at reduced amounts.
Last year Medicare's hospital insurance fund go broke date was pushed from 2033. I'm sorry, pushed to 2033 from 2036. So that, that's shocking. So this year they're not saying it's, it's worse, but they did a three year jump down two years ago. I didn't even notice that when I was reading this. Social Security Commissioner Frank Bizignano said the Trump administration is committed to protecting and strengthening Social Security. Eliminating waste, fraud and abuse and ensuring program integrity. Then bring back Doge.
See here AARP CEO my leacha Minter Jordan said in a statement. Sorry about your name there, hon. If you're listening, send a statement. The latest numbers should be a wake up call. Congress needs to act. No kidding. America's have worked. Americans have worked, have worked hard and paid into Social Security their entire lives and they deserve to count on it when they retire. She said no family should see any cuts to what they've earned in Social Security. Oh, and I'm going to buy a unicorn and feed it nothing but cotton candy this weekend.
Social Security's benefits were last reformed roughly 40 years ago. Well, that's good because we're all in this together. We're living longer. I know the whole thing.
I won't read anything from this other article. I found an article on msn.com on 32426 and it straight out says.
I guess I will read something. It straight out says Social Security programs running out of money by 2032. The main trust fund that helps finance Social Security retirement benefits is set to run out after the state benefit amounts will decrease by 24% according to an estimate by the Committee for Responsible Federal Budget. That is my prong number three. If you've heard me for any length of time, you know that I believe what's coming is a three prong approach. First of all, they're going to raise the age.
I think that's first. They just don't want to tell you that. They want to tell you about the reduction because it's not too shocking. I can tell you right now you can draw it at 62 or 66 and 11 months or whatever your full retirement age is, or you can wait to 70, get that extra 8% a year, you know, for the last few years and, and all that.
So the prong number one, they're on a Monday morning, they'll announce it Friday afternoon after 5:00', clock, Arizona time. They're going to say you can no longer draw at 62 or 66 in whatever months. They're going to say across the board you can only start at 70 or older. That's what I think is coming. They can't announce it, but they'll just do it on a Friday. So bet me future will tell if I'm right or wrong. Prong number two is they're going to raise taxes. So younger workers, right now you're putting in what, 6.25%. Your employer is also putting in 6.25%. They're going to have to change that. They're going to have to double that. At least that's prong two. And then prong number three, which they are actively talking about is this one. They're going to lower benefits. And this other article from msn, I can send it to you if you wish. It also talks about Prong 2, says in order to increase Social Security's revenue enough to lower the fra, there would need to be a significant increase in payroll taxes or a significant decrease in the benefit given out through the program. So they allude to the fact that they want to give us benefit even younger. That's not going to happen. But they are saying they're going to have to raise taxes. That is going to happen. So mark my words, let's go. As long as we're just totally doing financial stuff today, and yes, I have some really, really good end of the world stuff. But let's talk about one more thing. You know the whole IPO for SpaceX that's taking all the air out of the room. I think the PE on the IPO date is, is expected to be 100 times earnings. So that's, that's interesting. I don't, I don't know what they're going to do up there in space, but they're going to have to make a ton of money. And when we get our data center employee on the air, I'm gonna ask a lot about, you know, how these data centers are making money and the sustainability of such.
So something else happened this week that you would never have probably heard if you were watching SpaceX. Campbell's Soup. We told you, I don't know Last year, the year before that, they took Walgreens out of the stock market and put in Amazon. Well, here's a new one. Next week.
Pardon me. Next week they're going to take out Campbell's Soup. And one other. Let me read this to you. This is from rallies.
AI Campbell's exits S P500 on June 22, Campbell's will be removed from the S P500 before trading opens on June 22 as Marvell Technology and Flex join the benchmark. The S and P. Dow Jones Industries Committee announced that Marvel Technology and Flex will join the S&P 500 effective June 22, displacing Campbell's and Pool. I had not heard of Pool, and I didn't have time to look it up. But I have heard of Campbell's and something that I know about Campbell's, it is a barometer of recessionary pressure. Campbell's, their sales go up when people can't afford the same things they could. So to take that out and put in Marvel Technology whatever they have, that's very telling to me. They took out Walgreens, they're taking our Campbell's. The world is changing rapidly and so are the financial markets. And all of their eggs seem to be going in one basket. And that's, that's. And, you know, the end of that basket is human lists, robotics, digital, everything is going to replace us. So I don't care if it sounds like I'm too worried or I'm scared because I'm not going to be here, but Anthony and Sam, you guys are. So I don't know if that piques your interest, but it's crazy.
Should we get into the crazy stuff? There is one thing that we've had two, two that I know of. People reach out and say, you didn't hit it up over the last couple of weeks with the passing of Kyle Busch.
And yes, I am. I was very sorry to hear that. I was in Laughlin when it happened, but a couple of people reached out to me and they put together.
I didn't even think about at the time. I was traveling. They put together the fact that we had talked about Kyle Busch on two or three episodes and the fact that there was a huge problem with his life insurance and, you know, there were lawsuits. Well, all of a sudden, not too much later, he passed away.
You know, as soon as I heard that, my first thought, and this is just how I go, was, was the young man vaccinated? So I right away went into my why? Why does a healthy race car driver who is certainly in better shape than most of us. Why is he dead at such a young age? But anyway, I just want to, you know the people that are listening that pointed that out. Yes, that is interesting. You know, I mean, you know, he, I guess the insurance wasn't in place on the date of his death. So that, that's kind of creepy. So anyway, I just want to address it because a few people have asked me why we haven't talked about it. I guess I just wouldn't know what to say.
Anthony, is there any thoughts you have on is there any correlation between the insurance problems and his death or vaccines or anything or just things happen.
[00:40:19] Speaker D: Things happen.
[00:40:20] Speaker A: Okay, moving on. So let's get to the end of the world and then Anthony, you're probably right. It probably has nothing to do with anything else. Just things happen.
Excuse me. So let's get to something interesting from the end time headlines. On 10 June, popular Lake in Arizona forced closed after thousands of fish die. So now this might be biblical. This might take us into the realm of like, you know, plagues and that sort of thing, but I don't know. According to a report from the New York Post, a popular fishing destination in Arizona has been closed to the public after a devastating event wiped out its entire fish population.
Entire fish population of a big lake. Wow. San Carlos Lake, a man made reservoir located roughly 125 miles east of Phoenix, experienced a catastrophic fish kill that officials say eliminated 100% of the fish. This sounds like a Netflix movie. You know there's this, this is wild. The closure was enacted due to serious health and safety concerns stemming from the decomposing carcass circuses. The San Carlos Recreation and Wildlife Department attributed the die off to prolonged drought conditions combined with the release of water from the nearby Coolidge Dam which was necessary to support irrigation for surrounding communities. Years of dry weather and minimal winter snowpack had already caused water levels to plummet to critically low points around the 400 acre feet leading to shallow oxygen poor conditions. I'm going to put that article aside from when we have Mark on the guy that says we have no water problems and ask him if fish are dying because of no water.
Switching gear from fish to mosquitoes today is a lot about insects. That's part of why I picked that particular festivus report. Item 2. It was short and it was about insects.
So this is from the end time headlines on 8 June, Government scientist leaks terrifying truth about Google's plan to unleash 64 million infected mosquitoes on America.
So dead fish, here come the mosquitoes. Alphabet's life sciences division verily is advancing the debug project, which calls for the release of approximately 64 million male mosquitoes infected with the Wolbachia bacteria across parts of Florida and California. The initiative aims to curb populations of disease carrying insects, particularly those spreading the West Nile virus. The strategy relies on a form of biological birth control.
Sterilize male I'd like to be. What do you do for a living? I sterilize mosquitoes.
How fun is that? Do you have any videos? Sterilized male mosquitoes are intended to mate with wild females. Aren't all females wild?
Resulting in fewer viable offspring and a gradual reduction in the overall pest population. You can't make any of this stuff up. And I watched a movie on my way back from Aspen called Cold Storage with Liam Neeson, Red Vanessa Redgraves. You gotta watch that. As dumb as you know what. But it's so funny because if I have a report from the end time headlines about a cold storage case next week, it won't surprise me. Let's see here. Concerns have emerged about unintended ecological consequences.
Dr. Harrington expressed specific worries when regarding the manipulation of genetics in natural environments. I am concerned about manipulating the genetics in the environment, she stated. There have been a couple of lab studies where they've shown infection with this type of bacteria enhances virus transmission. Sounds like exactly what you're not trying to do, but what do I know? She acknowledged that Alphabet does not appear to have any sinister intentions. Really? Okay, good to hear. But caution that no matter what we do, it seems like Mother Nature always has the upper hand. Come on, Doctor, don't be naive.
Excuse me, it's Google. If DuckDuckGo was releasing wild boars and javelinas and stuff, I'd be way less concerned than Google releasing mosquitoes. So I'm glad it's Florida and California. So good luck to both coasts. I wonder if mosquitoes can fly. I wonder if they can get their way from California to Arizona.
Let's move on.
We got to get to something different. Well, it's not real different. Here's from Fox 10 Phoenix. On the 4th of June, USDA confirms first US case of flesh eating screw worm in Texas triggering quarantines. I don't mean to laugh, but if there's dead fish and there's screw worms and there's mosquitoes, I don't know. I mean, maybe it's. Maybe it's. I don't know. Is this the end times I'm glad I'm reading the end time headlines. There's another book I need to start reading more. More thoroughly too, because this is crazy. And by the way, beef is expensive now. So we already have droughts and land shortages and all this stuff and you know, Bill Gates, I think it was, didn't want us to eat cows because they get methane or something. So, boy, here comes the screw worm. Federal officials detected the destructive flesh eating New World screw worm in a Texas calf, triggering strict local quarantines and live animal movement controls.
Texas Agriculture Commissioner Sid Miller. I like that name if I need an easy name. Sid, if you're listening, good on you. Blasted the USDA's response as slow and incomplete appearing. I'm sorry. Appealing directly to the White House to mandate more aggressive chemical bait tactics.
So we'll see how the cows go. We have a wonderful friend and client named Kathy. Kathy was in the office this week and she said something that I haven't seen in the news yet. She said they also found a dog, a domestic animal, a canine was also found to be affected by the screw worm. So we'll see what happens.
This article goes on to say the New World screw worm is considered one of the most devastating livestock and wildlife pests in history.
We should release mosquitoes on them. While rare, they can also affect humans. That part slowed me down a hair because I'm like, wait a minute, wait a minute. I don't know. Like a month ago I had to worry about rats and hantavirus and going on a cruise and then it switched gears to Ebola. Am I going to have to worry about the screw worm now jumping from dogs and calves to people? I don't know.
One more thing here. To eradicate the population, federal officials are expediting the release of billions of laboratory raised sterile flies. This isn't the same article.
Deploying ground release chambers to supplement the 4 million sterile flies already being dispersed aerially in the region each week. When wild flies mate with sterile flies, no offspring are produced, eventually collapsing the population. Holy cow. I mean, you know, my whole worry lately has been on data centers. But, you know, nature is butting heads with humans pretty hard here too. So Miller argued that the sterile fly strategy is a partial solution that takes years to work on its own. He urged the White House to declare a national agricultural emergency and mandate the immediate deployment of of the screw worm Adult Suppression System. The old swass, the sws, a USDA developed method that uses targeted chemical bait pellets to rapidly kill adult flies. Huh. We'll see. We'll see what happens. Why don't we. You know what? I really miss talking about technology and data centers and all that stuff. So let me give you a couple quick stories on data centers. I've been. I've been very rude with the time today, Anthony. Do you have anything you want to talk about? Last week you talked more than usual and I should offer that to you.
[00:48:47] Speaker D: Nope.
Can figure out to get my mic unmiked.
[00:48:52] Speaker A: I understand that. So let's get to. Oh boy. The end time headlights. Shocking. From May 27, US first integrated humanoid factory set to build and roll out 100,000 Neo robots by 2027. We had a conversation with Kathy about how you're going to be able to have a robot in your home and I think they're only going to be like six grand. I read. So according to a report From Interesting Engineering, US based robotics company IX or 1X has initiated full scale manufacturing of its Neo humanoid robot at a newly established facility in Hayward, California. I want to dig into this article but I might save it because I want to go to another article I found on the 7th of June and it occurred to me because I read these, you know, near each other.
Remember the name Neo from this. From this. So here's from the end time headlines. On 7 June, China beats Elon Musk to launch the world's first commercial brain chip.
Remember neuralink was the thing we talked about a while back.
So Chinese authorities have greenlit the world's first commercially viable brain computer interface implant, making a significant milestone in nano. I'm sorry neuro technology. That'd also be nano by the way, the coin size device known as Neo. Is this just a coincidence? I need to look in the Bible and see if there were Neos in there. Today is very much end of the worldy. The coin size device known as NEO has successfully completed clinical trials and is poised for mass production within China's state run health system, positioning the country ahead of Elon Musk's neuralink in bringing such technology to patients. I don't know. This is crazy.
I think we're running low on time, man. I. I have about seven or eight more articles to get to. I think next week I should stop reading and finish up these articles because they're all really good.
Sam saying we only have two more minutes. All right, so today, bottom line for today, make sure you're watching your financial stuff because I think the cracks are getting wider. Make sure you read your bible because between pests and pestilence and everything going on. I mean, I didn't even get to stores like, you know, Carmelo Anthony. I want to talk a little bit about division of the country and the media and all that. I had so much to get to and I can't.
So make sure you send us stuff that you need me to get to and we'll start again next week.
[00:51:33] Speaker D: That's all for today's show. Feel like we hear. Do you have any questions on today's topics? You can reach out to us at
[email protected] find us on the web anothermoneyshow.com find our contact information, book appointments straight from the website.
Give us a call 623-523-0444. That number again is 623-523-0444.
Hope you all have a great weekend. We'll see you again next Saturday at 5am and noon right here on 960 the Patriot.
[00:52:07] Speaker C: Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation, visit anothermoneyshow.com investment advisory services offered through Brookstone Capital Management LLC, BCM, a registered investment advisor. BCM and Rochford Financial are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Investment advisors Risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results.
[00:52:45] Speaker B: 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. For generations, retirement was seen as the finish line. But for a growing number of Americans, retirement isn't ending careers anymore, it's simply becoming an intermission. I'm Jim Tarabokia for the Retirement Radio Network powered by Amerilife.
According to the center for Retirement Research at Boston College, approximately 39% of working age U.S. households are at risk of facing a lower standard of living in retirement, causing a cascade of unretirees people returning to the work age workforce after months or even years away.
For many older Americans, the motivation is financial inflation continues pressuring household budgets, with recent studies showing nearly 70% of retirees who return to work, including money, is the primary reason. CBS News Mark Strussman breaks down some current day key financial retirement figures.
[00:53:49] Speaker A: The national average for one person to live comfortably in retirement, roughly $967,000 in savings. Every retirement scenario is different, but that's $74,000 a year for the average American worker to live out his retirement.
[00:54:05] Speaker B: But finances only tell part of the story. Many retirees discover they miss the structure, purpose and social connection that work provided. After decades of solving problems, mentoring co workers and staying mentally engaged, full time leisure can feel surprisingly isolating. And unlike previous generations, today's retirees are healthier and more active, well into their 70s and beyond. In other words, the career arc is evolving, with some embracing phased retirement, shifting into part time schedules or consulting roles with former employers. Others are launching entirely new businesses. Turning decades of experience into second careers and remote work has opened doors that barely existed 10 years ago, allowing retirees to work flexible hours from virtually anywhere. But if you're someone who still believes in the traditional retirement setup, CBS News Jill Schlesinger says there are rules, rules to abide by.
[00:54:55] Speaker A: Everyone needs a plan. First, figure out when it's best to claim Social Security. Next, fund an emergency reserve still working. Set aside 6 to 12 months worth of living expenses and keep that reserve in a safe, easily accessible interest bearing account.
[00:55:12] Speaker B: The traditional thinking of retirement stopping work completely at 65 may be beginning to fade. For some Americans, retirement is no longer about stepping away forever. It's about having the freedom to decide what comes next for the Retirement Radio network powered by Amerilife. I'm Jim Tarabaghia at Rochford and Associates.
[00:55:32] Speaker C: We know you've worked hard to earn your money and you've worked even harder to save it. When it comes to wealth management and Planning for retirement, J.R. rochford and his team of specialists have been helping individuals, families and business owners find financial freedom at their veteran owned firm for more than 25 years. Give us a call now at 623-523-0444. That's 623-523-0444.
