Will Your Financial Plan Survive the Next Market Meltdown?

[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy. [00:00:18] Speaker B: This is another money show. Get set for another hour of the latest financial information and economic news affecting your bottom line. J.R. and Anthony are committed to helping more Americans like you optimize their inc. Reduce their tax risk and reach financial freedom. So let's start the show. Here are your hosts, Anthony Correjo and J.R. rochford. [00:00:42] Speaker C: Here we are, your hosts, Anthony Correjo and JR Rochford, taking a break from our day to day as financial advisors with Rochford and Associates, a fully independent fourth generation family office right here in the greater Phoenix area to bring you information you may not find on those other financial radio shows. We are aware the last thing you need is another money show, but we appreciate you being here. [00:01:07] Speaker D: We do. We greatly appreciate being here. We always say that we're little tiny fish in a big huge pond. So we need your help. I spend a lot of my time on the weekends listening to other financial shows. And it's funny because I've been doing that for years and years, even before the three and a half years that we've been on. And I'm going to tell you something, no offense to these big dogs, it's a corporate machine. The shows are all the same. When I listen to the same people every week and I'm just like, oh my gosh, how, how do what keeps people coming back every weekend? And we know people that listen to a bunch of different shows. You know, one of our, we always pick favorites. One of our favorite clients, he calls AM radio hate radio. I think that's a little extreme. But he listens to, you know, a smathering of political and current events and so forth. I just, I don't know. I mean, maybe it's just me, but I'm bored when I hear these shows. I know what they're gonna say. I also know to a certain level, by the way, if you're listening to me and you're one of the big dogs on the radio, do I say the word allegedly? I mean, I don't know how to approach this. You guys are full of crap. I mean, I'm just, you know, this thing about the next five callers, I get so tired of hearing that. Are you really telling me that if I'm caller number six, you're gonna apologize and say try again next Saturday. Stop it. These people that say if you've done the heavy lifting and you've saved at least a quarter of a million, then you can see us. So are you really trying to help somebody? I mean really, if you're not Anthony and Junior and Sam and you're not trying to help people that need help at whatever level? I don't know, I think the pressure, the quotas, you know, if you take an advisor, let's just use one of the big banks because those one are my favorite targets. You know, big banks, you know who you are, you're, you're still selling variable annuities to 86 year old women that lost their spouse who handled the finances. You know, let's say you're the most honest character on the planet. I'm sorry, but if you don't keep selling to a certain level, you're not going to be there. So you might really, really like the clients you're helping. But I can tell you what, if it's not appropriate to sell something, you have to anyway. So just, you know, if you're listening to us, you need to know that. I mean, I been in the job almost three decades. I've seen a lot. I really believe and I say and I'm slamming myself in my industry. I think we are up there with used car salespeople and timeshare salespeople. We have to be slimy. My whole job, it's all dependent on me getting money from you to me. And then we have to keep it moving, you know, I mean the stock market, how can the stock market defy all logic for this long? You know, Sam and Anthony, I were chatting a bit about the market and what's going on today. Funny. You know, one thing I've said over the years, if you haven't thought of this, here's something for you. Every single Friday, I'll just use this country. Let's use the United States of America. Every single Friday there's a huge influx into the s and P500, the NASDAQ, the Dow Jones, you know, the target date funds. People start jobs and they, whether they get it right away or they're in six months, they get offered the 401k because pensions are going away. So you know, you get the 401k, you don't know what you're doing because whatever your job is, it's probably not as a financial advisor. So you trust them and they open it up and they say we're going to give you a 6% match. If you put, you know, if you put in 6%, we'll put in 3%. So I'm sorry, a 3% match on 6 and you're happy as a clam. You're getting free money. You don't know what funds to pick, so they put you in the target date fund. You're young. They put you in the 2055 Target Day Fund. And then guess what, fast forward five years, seven years, nine years. You've never, ever reallocated, luckily, with the target date funds at least. Every time you have a birthday, they presumably get slightly more conservative. Little bit less stocks, little more bonds, but you don't understand it. So bottom line, though, every Friday, out of your paycheck comes this little wave of money. Thousands of you, tens of thousands of you across the nation. And it pumps up this big beast of a machine, the financial market. And I just, I mean, a financial advisor saying this is probably not a good call. I don't like it and I don't trust it. The Dow Jones industrial average is 30 companies. Are you really telling me that's a good indication of what's going on in our world, our country, our planet? I don't think so. Anthony's been in the office. He got there in July of 18, so he's been in the office over seven years. The Dow Jones and I didn't look this up, but it was roughly 22,000. That means nothing to anybody but 22,000. [00:05:41] Speaker C: About 20. No, it was just passing when I was getting there. I think it was just about to pass 20 because I remember it being at 22, 23 before COVID then dropping down to 18. [00:05:54] Speaker D: So let's use 20. The Dow Jones seven years ago was at 20,000. Fast forward to just this morning. Today as we record, by the way, is the 16th of October. Holy cow, this year is going fast. I hope you've done your Christmas shopping. Hope you've bought your pumpkin. I did notice all the Halloween stuff was out over the summer. Like, you know, fourth of July stuff. Move over. It's time for the scary Halloween stuff. So, yeah, when you got there, it was around 20,000. This morning it was 46,000. I mean, that's kind of mind boggling. Well, part of it is because every Friday there's a big influx and then there's a lot of manipulation. Let's move over to something more fair. Let's take the s and P500, which it's 500 companies, right? I mean, it's in the name. So I presume it's around there. The S&P 500. We've been shouting since we've had this program for over three and a half years. This S&P 500 is being floated by 10 companies or less. Meaning if you removed 10 companies and you turned this in to the S&P 490, it would fail. It would be negative for the year. So you think it's legitimate? I'm so sorry for you. We can explain it to you. With that said, am I giving you advice to stay away from the stock market? Well, I mean, I can't do that. I mean, certainly you've had a heck of a run since March 9th of 2009. If you've been in the market, you've had quite a run. You had one little snag in the month of March 2020, when Covid, the biggest black swan in the history of the world, not just our country, slapped you down, literally for one month. Then, ironically, on April Fool's Day, April 1st, it starts rebounding, and now it's up to 46,000. The Dow. It's insanity. And my thing. Am I saying get out. I can't give you advice, especially blanket advice over the air. We have to meet with you. We have to look at your situation. One person, one couple, one family at a time, as always. But I can tell you, the least I would tell you to do. Watch your money. I've said it before to you. Next year, health, your money is probably the second most important thing on this planet. So take it seriously. I would say I think we are due. I would say we are way overdue for another 2000, 2008. My biggest fear, which I don't dwell on because I. I get, you know, I'm just so mellow, and I don't worry about anything in life. But my biggest fear is if we get a 2000 and 2008 combined, because you know what? They never fixed anything. We don't learn. Anthony keeps telling you, go on YouTube and watch Boom, bust, boom. That's what we do. We have a boom, then we have a bust, then it ramps up for another boom. We make bubbles. Bubbles don't shrink. They grow, grow, grow. And then they pop. And I have never seen anything like this. I got to learn what collateralized debt obligations are, collateralized mortgage obligations. I got to learn about fiscal cliffs and debt ceilings. Oh, by the way, Monday will be three weeks, I guess, or next Tuesday, three weeks. It'll be the second longest government shutdown in history. The only longer one. If we make it to early next week will be under Obama. So they're getting longer more recently in history. Anyway, back to the stock market. So I have a feeling this next one is going to be a little bit chaotic. And they all work the same way. The market's going to go down fast. Sam said that what he was talking about with somebody today was, was what if we had a real bad week, like a 15% downturn in one week. And what I said was, I'm not as worried about that because then here come all the advisors, here come all the people like me, except much smarter, and they'll tell you the same advice they always give you. Buy the dips. This is a great opportunity. Buy the dips. These are the same people that for 15 years forgot to tell you to sell the peaks. We've been, you know, Anthony and I sit there, we look at statements. You know, we come on the radio every week just to shout out sound alarms, bicker amongst ourselves. But in the office, we're actually financial advisors. So we actually, we help you with your money, just so you know, if you haven't been in to see us yet. So it's funny because the advisors are going to keep people calm. They're going to say, this is the greatest opportunity. This market's not done running. I'm not sure. I am more worried about history. What happens is we have a diploma. You know, maybe Sam, maybe it'll be sharp. Maybe it'll be 15% one week. And then everybody will say, you need to buy it. This is a great opportunity. And the next phrase is kind of disgusting, but I've heard it said over the years. Then there's a dead cat bounce. It spikes back up to where it was or close to where it was, usually not above where it was. And the dead cat bounce means the thing wasn't legitimate. That happened in 2000. It happened in 2008. It was real bad in 2008 because people, when they were down 20%, you know, once you're down past whatever your tolerance is, 10, 15, maybe even 20%, then all of a sudden you can't get out. Because you know what the biggest thing we want to do with money? We all know what makes money move, is fear or greed, fomo, that sort of thing. The biggest reason we don't do smart things with money, we're afraid to make a mistake. I know as a sales professional, you know, I, I'm sure you know that. But any financial advisor still has to make sales. They stay, still have to get new Clients, they have to work. You know, if I show you a financial plan, let's I show you six or eight perfect financial plans. All have brilliant strategies. You know why you're not going to pick one? Because you're afraid you'll pick the wrong one. You're afraid you'll make a mistake. But if I only show you three or less due to a process of elimination, you'll probably be able to pick a financial plan. Did I, Sam, Anthony, am I going off too far on this? Did I lose you guys? Am I? So anyway, I guess I need to get off of this and go on to our regularly scheduled program for the day. But I just want to tell you, I'm just in shock. You know, I watched the market this morning. It was up and then all of a sudden it was kind of sharply down. And then Sam and Anthony talked about it and I'm like, I just, I don't care about any of this because it's not, I don't think it's going to end well. And what have we personally been doing over the years? We've been telling you, you know, take some profits, sell the peaks, pay down debt, buy hard assets. If you've been a long time listener of ours, you know, we believe in moderation and diversification. We've told you, pay down debt, buy hard assets. What if over the three and a half years you've been listening to us, you've been dollar cost averaging into gold and silver. What if you've been doing that? Are you happier now? Gold's at what, 42, you know, $100 an ounce. Silver hit what, $54 an ounce today. Anthony's got an article for us a little bit here on silver. [00:12:46] Speaker C: It's a week over week from last week's show to this one. Obviously things are changing. We record on Thursdays, but it. Silver's up 13.27. Gold was at 2.64 when I checked. And then all the, their major indices were down about a 100 or not a hundred, about one and a half to 2%. [00:13:09] Speaker D: Interesting. And I guess my question are people right now, what are they thinking about gold and silver? I mean, we've always been taught, even, even my grandfather, when he, you know, he was younger, we've been taught buy low, sell high. [00:13:20] Speaker C: You know, now people are going to chase. Of course they are. [00:13:23] Speaker D: Yes, that's exactly right. We always buy high, sell low. You know, this, this job, financial planning was easier before there was bitcoin and marijuana stocks, high frequency trading, computers. It was a Little more clear cut. You had stocks, you had bonds, you had, you know, cash, you had real estate, you had a pie chart of five or six things you could hold. If you're trying to gather assets. And it's so convoluted now, you know, makes sense though. [00:13:54] Speaker C: This is finally the only thing that actually does make sense. [00:13:57] Speaker D: Yes. And are people going to mess up? [00:13:59] Speaker C: Undervalued and especially silver. [00:14:02] Speaker D: Silver, yeah. The, the disconnect between silver and gold is glaring. And like I said last week, the Hunt brothers aren't here right now. So there's. Jamie Demon is not cornering the market right now in silver. So I think the silver supply is getting stressed. I think the gold supply has been stressed. I think when Elon Musk and Trump were holding hands, they should have gone into Fort Knox if there was, if there was really anything near what we're supposed to have. So. And Anthony, you talk all the time about paper trading versus hard asset holding it yourself. I heard a gold IRA commercial this morning and I love these commercials. If you listen to AM radio, geez, there's you'll get like three or four gold and silver dealer commercials an hour. It is saturated because as it's going up, everybody buys it. When it was going down Years ago, after 2000, what was it, 11 when it hit the big spike and gold got up to 2,000 and then it spent a couple of years not doing so well. Nothing. The precious metals dealers were crickets. Other than my buddy Joe Jaquin, who's been steady on the radio for, I don't know, 20 something years. He has straight out said, yes, the government has seized it before. Could they do it again? Yes, it'll be harder now. It's a different day than it was. But yes, it could happen. He's said in the past that you really should have one ounce for every year you've been alive. So me at. I don't want to tell you my exact. Well, I don't give. I'm 61. I should have 61 ounces of gold. Can you imagine had I done that when it was 200 bucks an ounce, 300 bucks an ounce, and now it's 4,000 ounce. If we have the vision and the foresight to do what we should do and people try to help us. Should you have mortgaged your house to buy gold when it was 300 ounce? No, that wouldn't have been smart. But boy, this is such unchartered territory we are in right now. With that said, why don't we start the show because we have a lot to get to. As I usually say, we have a busy day coming up, so let's start. I like to start out with shout outs for a reason because we need you to know we appreciate you. We need you to know that we are active and busy. Other than Anthony being on 23 vacations a summer, we are actually working hard. Anthony, no smile on that one. So quick shout out. Speaking of Joe Jaquint, I went to one of his meetings last night. Joe is a precious metals dealer, He's a radio show host. He is a very insightful person. He's chaotic like me. He's very passionate about his chosen career. He's into the thought that cryptocurrencies are coming whether we like it or not. He's spearheading the activity on a cryptocurrency startup in Phoenix. So I have joined him. I've actually put some money into it. So I went to a meeting last night on that and it's. This is my second like formal meeting I've been to on this coin. It was really good for me because he talked about going on coinbase, he talked about trading other cryptos, he talked about, you know, how to do the activity, how to buy, how to sell, how to make our holdings real. You know, part of why Anthony have slammed. Anthony and I have slammed cryptos for three and a half years. We don't believe in them, we don't like them, we, we think they're baloney. They're just air. You can't take your bitcoin to Walmart and ask for change on $111,000 coin. So we think it's all bogus. It's tulips, Beanie Babies, pet rocks. You pick the analogy of bull crap. But unfortunately it's a common. We talk about the genius act, we talk about FedNow, the government getting into the understanding on the blockchain. So it's coming. So Joe realizes that. Does he still sell gold and silver? Heck yeah, he does. So. But oh, the gold ira, I forgot to tell you the end of that. With the gold ira you have to. You, there's record keeping involved. You know, it's a self directed ira so you get to manage it or direct it, but you have to have your gold in a depository or repository, whatever you call it. No thanks. The reason I think gold is not done yet is because everything that I've been shouting about is coming closer and coming at us like a freight train. The fiat currency is going away. I mean, I don't know how Can I shake people awake and tell them as much as you want to keep your head in the sand, it doesn't matter. It's coming with or without you. So either you ramp up like I am trying to do or you just wait and adapt when it gets here. So do your thing. Pick your course of action. Most people, if they're afraid of making a mistake, they do nothing. If they're not sure what to do, they do nothing. Sometimes that's good advice. Not right now. Too much going on. So my shout out to Joe, I was on his show two Fridays ago. If you want to hear it, I'll send it to you. It was my first time on his show so I was a little bit nervous. I was wearing headphones. The whole thing was different for me but I enjoyed it. I would have a better idea what to expect so I think I would be smoother if I go on again. So last night I asked him if I can go on again and. And he said yes. So I have to pin down a day. I told him I don't want to like be there for the whole show and do dribs and drabs. I want like a 10 or 15 minute segment on his show and he said okay. So I have my outline ready and I'm going to find out when but I'll be back on Joe's show soon and I have a little bit to say so that's cool. [00:19:18] Speaker C: Congrats. [00:19:19] Speaker D: I am happy about that. Another shout out. We did a presentation on Monday night and now that it's over, I don't mind telling you it's. It was at the West Valley Republican and Independent Coalition. So yes, it was a group that was right leaning so if that bothers you, okay, we won't, you know, invite you to one. But it was really good. I mean the people that invite us, Deb, Ray, Natalie, Nancy, Annette, Marcy, Roxanne, et cetera, et cetera. Wonderful people, really good people. We had a great time. A couple of our friends and clients were there. Anthony was there, Sandy was there, Jay was there. Our friend Kevin Michael C from Sun City office manager Macy. It was a great night and one of our favorite ex neighbor and friend, we're going to call him Thad was there and apparently. Well, I won't go into it but Thad is a gold and silver. He was telling me, I don't know when I met him 15, 20 years ago he was telling me I really need to get involved with it. So I will credit the fact that I have dollar cost averaged a little bit into precious metals. 100% to him. He actually, he sold me other than jewelry and like, you know, stuff that was, you know, whatever inherited from grandparents. He actually sold me my first two silver purchases. And I'll never forget when I bought, you know, within the year after that, it went down, I don't know, maybe 15, 20%. And I gave him such a hard time. I'm like, you know, we're neighbors, we're friends. This is. You are the most uncool person. And I'll tell you what it was under. Well, I'm going to tell you right now. It's. It's worth roughly. It's worth about eight times what it was. So good on you. Ex neighbor. Anyway, so the presentation, it was on a few things, but basically what's coming with our. It was. It was on several things I did get off that I have a lot of passion in this industry. I one of our favorite listener clients, he was texting me after it was done. And the things that he pointed out to me that I need to polish up on are time management. And it's so funny because it's just like the show. I mean, I get excited. I'm a type A personality. I have a little bit of presentation. [00:21:41] Speaker C: You just didn't cover the one thing you were supposed to cover. It was really entertaining. [00:21:45] Speaker D: Yeah. But guess what? It worked out great because now they have to have me back. They said they're having me back right after the first of the year. So good on me. That's my new strategy. Whatever you invite me to speak about, I'm going to go all around it, but I'm not going to get to it. [00:21:56] Speaker C: You talk like a politician. [00:21:57] Speaker D: I do. [00:21:58] Speaker C: Maybe I should run without actually saying anything. It's so beautiful to watch. It's truly, truly impressive. [00:22:05] Speaker D: That is nice. That is nice. One thing about Anthony, I have to. I have to tell you about Anthony. We are. And I've been in his life since he was, I don't know, 10 or 11. Anthony didn't even say too long. That was uncool. Don't make me sad. So one thing about Anthony, we are polar opposites. Anthony is mellow. Anthony, he's kind of an introvert. Anthony was an engineer by trade before he came into the family practice. And so it's just funny. I think we really offset each other when we get people that set an appointment that have heard us on the radio show. We had a woman in yesterday. She didn't specify if she wanted me or Anthony or both. But we get people that actually ask. We had one person that asked for both. And it's funny because the appointment had. This was a few weeks ago. They got both. And just like on the radio show, I mean, I took over, I talked, but I'm just. I'm more passionate and animated. I always say to people, Anthony is the engineer. He's smart, he's analytical, he does the detail. He can take your 401k and back, test, you know, the funds you have now, how they would fare if we have another 2008. I am big picture conceptual storyteller, so I can give you the concept of why you better watch your money. Anthony can show you exactly how to watch it, and he can show you proof on what I'm saying. So. But this. Anyway, this presentation, it was really good. It was on. It started with the real id, and then I talked about digital id, bottom line of which that should be your line in the sand when digital ID is proposed here in this country like it was. We just talked to you a few weeks ago about Vietnam and how they literally seized a third of all bank, bank accounts when people didn't want to do the face recognition and bio this and bio that. So when it gets here, say no, because that is when you see digital ID here. And the first step is the real id, because they started the database and, you know, kind of like getting a vaccine. They saw how many people complied and how many people didn't. So when the digital ID gets here, keep this in mind. Do your best to fight it. Say no, because that's how you're going to know the central bank digital currency is imminent because they have to track us. I mean, I've told people, you know, for 20 years, you know, never give up your Second Amendment rights because those are the only thing that keeps the government away from your First Amendment, your Fourth Amendment, your tenth Amendment. And I will tell you, with the upcoming changes on the fiat currency and so forth, they really need to put digital ID in place first so they can control what you do with your money. And we've already done it. I mean, you know, without the actual digital ID in our hands, we've done it. You know, I screamed about going to the Diamondbacks game. The building is completely cashless. You cannot buy a hot dog or whatever with cash buy. But yet there's machines, there's kiosks in the Diamondback Stadium where you can put cash in and it spits out a debit card so you can go over and buy a hot dog. If you don't think that's the dumbest thing you've ever heard, let's talk further. It's cashless, but you can bring cash to their machine that turns it into non cash. Come on. [00:25:13] Speaker C: I mean seriously, ATM machine, That's insane. [00:25:16] Speaker D: Yep, a reverse atm, it is definitely insane. And you know, really, we've done it to ourselves. It's more convenient to have a debit card, atm, you know, whatever people use. [00:25:26] Speaker C: Mostly people just don't have money. We live off of credit. Large industries, the government, individuals, everybody lives off credit because they have no money. [00:25:35] Speaker D: Which. [00:25:38] Speaker C: In four years, five years. [00:25:39] Speaker D: Yeah, since you've been in the office, we literally have money supply. I don't know, I mean, I'm guessing Ukraine, you know. Oh, don't forget Donald J. Trump today is on a big phone call with Root and Tootin Putin. So we'll see how that goes out. You know, I still think that we're not done with the, the Ukraine Russia story, but we'll see. So Donald is talking to Putin today, then apparently he's meeting with Zelensky tomorrow. They're talking about supplying US made hellfire missiles or some crap over to Ukraine. I don't know. And when I watch Geopolitics, I'm still telling you in my thinking China is going to go and grab Taiwan. I think there's no way around it. When I'm not sure. I would have thought it was last October. Thinking again, maybe this October, I don't know. We only have two minutes to break time. Why don't we do that? Why don't we take a break and then we'll come back and we'll try to reign me in. Good luck, Anthony. Anyway, last week I said to you I'm not very good at the call to action, so I'm going to straight out say it again. We want to meet you. We want you to come in the office. If you give us enough lead time, we will come to you because. But we want to meet. If you're listening to us, we have Lifetime income solutions for you. We can look at your 401k. We can tell you how to supplement Social Security, we can help you financially, but you need to call us and then we'll set it up. We're at 623-523-0444 or you can email team anothermoneyshow.com and I want to remind you we have a YouTube channel. We have podcasts. Every Friday afternoon in Phoenix. In the afternoon, Sam gets out our, our radio show as A podcast if you want to hear it early. You know, we, we met one woman at the presentation on Monday that listens at 5 o' clock in the morning on Saturdays. I poked a little fun at her. But if you're listening to the show, thank you so much. We, we so appreciate you being there. Anyway, we'll be right back and we'll start this chaos again in a minute. [00:27:44] Speaker B: To schedule your free no obligation consultation with J R and Anthony, call 623-523-0444 or visit another money show.com this is another Money Show. [00:28:02] Speaker D: Thank you so much for being with us. As you know, we greatly appreciate it. My new improved JR is trying to be better at asking you to make an appointment with us. We want to help you. One person, one family, one couple at a time. So make sure you call us 623-52-33-0444 or email us@team another money show.com and we would love to help you. Our YouTube channel I something that's bugging me more and more every single week about YouTube. Not our channel. Our channel is perfect. Thank you so much. So something about YouTube it's, it's so frustrating. I guess you can pay money and get some sort of a YouTube plus or whatever and they get rid of the commercials. Your commercials. YouTube are really excessive. It's bad enough when I gather and I average 10 articles a week. I gather for the one hour show, the pop up ads, the frustration of trying to read articles is tough and it's even worse when you're trying to watch videos. So Anyway, it's annoying. YouTube if you, if you're listening, it's annoying. Yeah, one more shout out. We did have, we had a couple of people in the office yesterday and I want to talk about them just for a minute. Obviously I won't give specifics or their names but I just want to share part of what happened yesterday. We had one person who does listen to the show periodically. So I need you to listen to it weekly but periodically. And he's also in my neighborhood. He is a guy that he's great guy, wonderful guy, had a great job, never been a super wealthy man. And we run into this a lot. So I wanted to focus on it for a second. So his concern in life at this point in life was, you know, I wish I had been able to do more for my kids. You know, I mean I've done okay. I'm not worried in life I'll get through but I wish I had more to leave my kids and I'M like, well, I mean, you're going to leave them your home, you're going to leave them your assets. You know, you're not doing bad. But what we did for this guy is we gave him an insurance plan. You know, a lot of people think insurance, I would rather go get a root canal then talk to an insurance person. It can actually be a really good thing, though, depending on your situation. What we do sometimes with insurance for people in Sun City is depending on their health and their age and all that stuff. We put together insurance. This guy has. He has three kids, and we determine an amount he would like to leave teach of the three kids. And basically, you know, obviously we look at the premium, we look at his income, but now, you know, everything. He was going to leave his kids. Now he's got a dedicated portion of money to leave to each of the three kids. And the big thing for me, it's going to come out tax free. So that makes the amount of legacy inheritance money worth what, 25 to 40% more when it's tax free. So. And it was huge. We forget to tell people that. We look at your situation, we tailor, make it to what's important to you. And this guy, great guy, he should have no problem with the underwriting. So. But I just. And Anthony brought up something that we like to tell people. When you look at people that want to change the trajectory of their family, they want to do legacy and inheritance planning, they want to do wealth transfer. Usually the people that are into this are the highly wealthy people. You know, you have a family meeting. Let's say you have two kids or you have four kids. You know, your kids at this point are usually in their 30s, you know, sometimes in their 40s even. And what you do is you. You get the amount, you know, established that you're going to put on the parent or parents. And then you talk to the kids, you're like, this isn't for them. They've worked, they're retired or soon to be retired. They've won the game, they've made it. How do they help you get ahead? How do they take care of their family? You know, the day and age of things being easier for each generation is kind of fading. So, you know, we even talk about having the kids pay the premium. Let's say the premium's $400 a month, and you've got two kids, they each pay 200amonth. If it gets tight, you know, the parent is. They're doing this out of generosity. So, you know, there can be Some flexibility there. But let's say if you paid $200 a month, you and your sibling, and you knew that in 20 years or 30 years or whatever, you know, your parent is going to leave this money to you tax free, that's a game changer. I wanted to bring that up. We had another person that does listen to the radio show. It was her second visit into the office. Super sweet woman. The appointment. If Anthony had done the appointment, it would have taken about 45 minutes. But I did the appointment. So it wound up being close to three hours. [00:32:42] Speaker C: You love to hear yourself talk, don't you? [00:32:44] Speaker D: I do. And so did she, obviously, because I look for signs like had she yawned, had she sat back and folded her arms, had she physically fallen out of her seat, I would have wrapped it up. But we talked about everything from umbrella policies, we talked about her kids and what's going on there. We talked about stuff. She had no idea that there was insurance brokers. She has an insurance company. She's not happy with them, but the hassle factor of shopping insurance is overwhelming. So she's like, I'm just going to put up with it. I'm like, here, give this person a call. They're going to help you. All you do is give them your declaration page on your renewal and they do the rest. She was like, she didn't know that existed. We talked about, you can do that with your home and auto insurance, you can do with health insurance. We help people all the time that need, you know, they. Are they best off on the Affordable Care act exchange? Are they best off with private? There's things out there that we can help people with. But this, this woman, it was so cool because her need was very simple. She had this amount of money and she listens to the show. So she knows that money in the bank is potentially at risk when the FDIC only has 1.3% coverage on the money. And she is aware of how weird the world is underneath the surface. So we showed her an apples to apples comparison and where she could put her money where it's either 1.3% covered or 100% covered. You know, we talked about the fact that, you know, God forbid, if she passes away, you know, the day after it's issued, there's. There's no backside charge. It goes to her kids. I mean, we talk about all this stuff and we revamped her entire financial and estate planning life and it just, it's so rewarding. You know, I've told people for years, you know, if I Work for a big wire house. I have to see, what, six people a day, eight people a day. They don't get more than an hour. You know, you line them up during the day. You know, you have four in the morning, then you have a lunch hour, then you have four in the afternoon. You got to get them out. And we don't work that way. You know, my normal day, this might sound weird to people that are listening, that have been to other financial advisors. An ideal day to me, two appointments a day, if they're new. I mean, service is different. Annual reviews, that sort of thing is different. Two a day. We block off, you know, Anthony, on our. On our digital calendar. Blocks off what? Two hours for appointments? You might not need it. You might be in and out and a half an hour. That's fine. We always have other stuff to do, but we never want you to feel rushed. I mean, if you've ever. If you've got a financial advisor or you've had a financial advisor, and you almost feel like you're bothering them, if you're a bother to your advisor, that's the exact opposite of we want to do. Have you ever been out to eat and you don't want to ask the server for more bread or more water because they just seem like, you know, they're annoyed. You're almost worried they're going to tamper with your food because they just don't seem to want to be there. You know, sometimes people feel like that with their money, and I want to tell you that's a red flag. So come to us. All right. Should we move on? I guess Something Anthony. I lost you a long time ago. [00:35:48] Speaker C: Yeah. All I can think about is another listener reached out to me and sent an article. But it was about how the universe is expanding at an accelerated rate. It doesn't consume additional dark energy. And all that really means is that none of this really matters because the world could implode one day and zero theorem. And that's what he's got me thinking about. So thanks, Kevin. I don't have to worry about a stock market collapse. I just have to worry about the sun imploding on us. [00:36:18] Speaker D: He did tell me send it to you. He said he asked you to forward it to me. And I said back to him. This was just yesterday. I said, anthony will never forward it to me. I'm like, will you just forward it to me? So that's in my in basket. I can't wait to see it. And why are you so negative? Why are you so Negative. I'm always talking about happy things. [00:36:36] Speaker C: I used to be a positive guy. It's Kevin's fault. [00:36:38] Speaker D: Now it's Kevin. It's not Jerusalem anymore. Now it's our buddy Kevin. Oh, and speaking of which, we saw our buddy this week. Everybody that showed up at the West Valley Men's Network in happy hour, thank you for being there. We love our once a month get together. So that's been wonderful. We all might die Saturday. This. I want, I want to give you a quick reminder if you have nothing. [00:37:00] Speaker C: Going on about the, Is that the no Kings protest? [00:37:03] Speaker D: Yes, no Kings day on Saturday. So we've got a friend named Eddie who during the last one he went around with a video camera and he was saying to people, thank you for, you know, their passion and showing up and thank you for being peaceful. And he recorded and it was hilarious. So hopefully he does that again. But you know, Saturday, big no King. So don't, don't forget. Let me, let me switch gears a little bit. When I, when I talk about what we do, when I talk about our financial, you know, people that do what we do, they have simple rules. You know, when you're new at this job, you learn the rule of 100. You know, basic idea is you take 100, you minus the client's age or potential client's age. If they're 20, you go around 80% growth, 20% safety for them. If they meet you when they're 80, you make their accounts 80% safe, 20% for growth. So on paper that sounds great. The only problem in reality, our job is not a science, it is an art. You have to get to know people. You have to really get to the bottom of what somebody's risk tolerance is. And yes, I realize everybody's risk tolerance. When things are going up, they're at an 8 to a 10. When things are going down, suddenly they become a 2 to a 3. We know that. What do we all want? 10% return, completely liquid, no risk. And it should never change. Well, you can't always have that. So anyway, but with what we do, it's funny because I am, I will tell you, I've never been an optimist. I've never been a pessimist. I am a realist. I manage money into the future without a crystal ball. So I look at it like I have to add 2 and 2. If it doesn't make 4, I have to ask why. I have to go deeper than most advisors. I have to look at mortgage backed securities and derivatives and stuff. That's behind the scenes. So. And I. One thing that, that I would say, I am, I am short term pessimistic, long term optimistic as a realist. Because I still have to think for you, Anthony, and for Sam and for Jay, I have to think this country is not done for. I have to think this world that we're on is not done for. But I'll tell you what, when I look at this country and then I meet people like the one that came in yesterday, completely on the same page as me, Anthony, you and I are not on the same page with how things are going and how they're going to, you know, come at us. She thinks the, this country is morally, spiritually, physically, financially, it's all going the wrong way. And it, I think it is too. And we, so we have to react to that. You know, when people that do what we do, Anthony, when they help people, they look at their age, they look at their income, they look at their assets, they look at their approximate tax bracket. You know, what nobody seems to be doing. And I guess it's because the pressure and the quotas, you know, they can't, they don't have time. They can't do this. They don't look at the world around us like we do. I mean, I talk about black swans last week I said basically, if you're consistently listening to our show every single week, which, which, and I pat ourselves on the back for this. We're on over three and a half years. We have never missed a week. We've been traveling Easter week, Christmas week, doesn't matter. You've got a new episode every single week. And it's funny because if you listen to us, you probably are way, way, way less likely to encounter a black swan scenario because we're going to give you heads up. And I've been giving you heads up on how there's no money in the banks, the stock market is heavily manipulated. It's likely to change. You know, we've been trying to tell you that stuff. [00:40:31] Speaker C: When I talk about how there's more money going to Argentina even though we've got a government shutdown. [00:40:36] Speaker D: Yeah, how can, how can that be, by the way? I mean, I'm glad, but yesterday, you know, the military got paid. I'm glad that, that our commander in chief was able to redirect money. You know, when, when I mentioned that Trump is meeting with, with Zelensky tomorrow, which why did they ever meet unless he puts his hand out and he's talking to Putin today, Where's the money you know, when, when I think about money in this country, whether it's a shutdown. Let's go. Bigger picture than a Shutdown. We are 124% out of whack with debt versus GDP. Think about that for a second. Thailand. I was talking to somebody last night about Thailand. They are roughly 66% under their GDP, so they're not that much trouble. And Thailand is wrestling with the digital currency right now. So is Vietnam. We're about to, I think, within the next couple years. So when I look at, we have 37 trillion in debt in this country, how on earth did we give billions of dollars to Ukraine in the last few years? It doesn't make sense. And, oh, man, I haven't brought this up in a long time, but I think maybe it's a good idea. I'm going to bring this up. So once in a while, I don't watch a lot of mainstream tv, but once in a while, I catch a commercial for the Wounded Warrior Project. I know, Anthony, you've heard this a bunch of times. Sam, you've probably remember this. That bothers me more than most things on the planet. And I'll tell you why. I am a veteran. So before you think that I'm a jerk for saying this, let me tell you. And no, I did not encounter an ied. I'm not a Purple Heart. I can tell you something, though. I volunteered to serve. So I knew that my job, whether you work in the kitchen or you work in the hospital like I did, the bottom line of your job is to get shot and killed. They tell you that you go through basic training and they try to reset your mind a little bit in your body, you know. So, long story short, whenever I see a Wounded Warrior Project commercial, it bothers me so bad because I look at it like we're asking you, the TV watch in public, to start a GoFundMe for somebody that lost a limb. It makes me so angry. It's passing the hat to take care of people that came back missing a body part or with traumatic brain injury or their ptsd, you know, so thick they can't. Can't function properly. I guess what bothers me, if I'm going to send in $19 a month to help that person get through life. The government sent them to battle. The government had the money to put them in harm's way, apparently, if they got hurt. And they have billions dollars for Ukraine. But we have to pass the hat for people that served that were hurt. I just, I don't get it? I think if there's food insecure in this country, I think if there's homeless veterans, I think if we have to have the Wounded Warrior Project, something is wrong. And I am old. And all I do is what? I'm a curmudgeon? I'm tinfoil hat. All I do is berate everything. Anthony and Sam, I hope in your future, somehow our votes count, things change. I hope we spend more money here than we do externally. How did I get on that? Oh, because you said we have no money during the shutdown. And yet, boy, I am a master at getting off track. You want to know something else? That if you're listening to us, you should get off track on this. Go pull up the video of Nancy Pelosi yelling at a reporter. It just happened yesterday, so you'll find it from the 15th of October, when a reporter asked Nancy Pelosi about getting the National Guard in during the January 6 episode, where apparently we learned recently that they had 275 undercover FBI people stirring stuff up. And she snaps at the reporter and tells the reporter to shut up. This is our elected officials. This was our speaker of the House last year before. It's. It's insane what's going on in this world. So I feel like I have to breathe. Anthony, let's switch. Let's do a really horrible segue. Sam pulled up the video of Nancy. She looks like a leprechaun with her little green outfit on. You know, I'm not really sure why anybody's asking her any questions anymore. You know, I mean, we. We've talked about Nancy and her husband over the years on insider trading, and, you know, they. They took. What was it? I don't know. They took more than a million dollars in PPP loans. Talk about the haves versus the have nots. You know, the only thing left in this country. The rich are getting richer, the poor hover, and the middle class is shrinking. I'm not imagining it. So, yeah, we. Sam, you're right. We need to reach out to her now that she's not the speaker of the House anymore and ask her to help us with what stocks to buy. [00:45:24] Speaker C: Since it was introduced in 2023, February of 2023, the unusual whales. Subversive Democratic Trading ETF is up 81%. [00:45:36] Speaker D: 81%. [00:45:38] Speaker C: You can trade the same stocks as Nancy. [00:45:40] Speaker D: That's awesome. And by the way, we're big believers in diversification and moderation. We can't give you specific recommendations for financial products on a radio show, but, you know, Anthony, you might want to say that name again so people can at least explore it and see if it fits their personal situation. [00:45:57] Speaker C: Ancient is the, the ticker. But yeah, I remember getting some of that. [00:46:03] Speaker D: N A, N C. And what was the other one? [00:46:05] Speaker C: Not a better trader than Nancy Pelosi. And I'm not a better trader than Warren Buffett, so I've got some Berkshire Hathaway too. Let them do all the hard work. [00:46:15] Speaker D: Warren Buffett is also not a better trader than Nancy Pelosi. Let that sink in. Warren Buffett is not a better trader on his record than Nancy Pelosi. So that's awesome. That is true. I, we've, we've had, we've dug into that before and talked about it. What was the one that you let people know about years ago too? The, the reverse. Jim Cramer. [00:46:37] Speaker C: Jim Cramer one? Yeah. So that one, that one died off. I don't think that one lasted very long because of, like you mentioned earlier, there's really only 10 companies keeping everything up. And those 10 companies kept everything from the inverse Jim Kramer from actually falling. And I think there's a long Jim Kramer one too. I wonder if that one's still around. It's been a while. [00:47:03] Speaker D: I don't know. Well, everything we ever talk about, it's, you know, the bottom line is be aware, be awake, be nimble, be diversified, moderation, buy hard assets. We talk about all the same stuff that, you know, every week. We bring you current events, but then we tell you there is stuff you can do about it and that usually leads me to my call to action. Did I mention we want to meet you? We want you to come in so we can help you. One person, one couple, one family at a time. Why don't we move on a little bit? Sam, you haven't brought up in a while, but we like to make sure people go to usdetclock.org on occasion when I cited our GDP debt ratio a few minutes ago. If you want to find a lot of interesting things, make your way to us debt clock.org and poke around. You'll see what kind of savings you're getting from Doge. If you look in the upper right hand corner, there's a. There's always a little window. They call it a secret window. And if you click on opens up. Sam, scroll over. See the secret window in the upper right. I have to remember we're on radio. But anyway, Sam just went to the secret window and it's, it's. I want to know what people's thoughts are on this because it's very interesting. They've been talking about precious metals for a couple of years now. So they've kind of let you know that precious metals are a good idea. So we need to do this. I don't know how much time we have left, but I know I always seem to run out the clock before. I mean to. I do want to talk about something. When we did the presentation on Monday, yes, it was chaotic. Yes, it was scattered. I don't do a great job with staying on track. You know, kind of like the show. I do an outline every week and then I usually get to about half of it. But one of the things that we brought up on Monday, it's really. I need to talk about it a lot. We used to harp on the banks and I just. There's always so much to do. I don't seem to get to it, especially like, you know, every week, like I should. You need to know something. You know, when I talk about diversification, the things that I am the most concerned with, or I think you should be the most awake, aware and nimble about are stocks, bonds, and banks. Obviously, if you come in our office, we can sit with you and talk about these things. Anthony is our securities person. He's an ria. He works for an iar. All the, all these, you know, acronyms. Anthony can back test things for you. He can talk to you about ETFs and all this magical stuff. I can talk to you about the big picture in the office. When I say stocks, bonds and banks, the stocks, that's pretty easy. I mean, we're in this huge bubble and nobody doesn't see it. The advisors are still selling into it because they're making hay while the sun is shining. They have to again or they'll lose their seat. We need to keep making sure you know about banks. I had a conversation with a vice president at a bank recently and it kind of shocked me because I brought up the FDIC coverage and this person didn't know what I was talking about. And I'm like, this, this is insane. It's impossible. You work for a bank, One of the big name banks. I won't name the name of it, but it's based out of Canada. But anyway, this. I was like, you're kidding with me, right? You're messing with me. This person didn't know what the 2010 Dodd Frank regulation says, which is where they put the rules in place to do a bail in. In this country. The person didn't know what a bail in is you need to know this stuff before things change. We tell you all the time, our mission is to make sure you're prepared and not scared and proactive, not reactive. I'm talking to somebody who's got a decent level position at a bank, and this person didn't know that we could have a bail in coming our way. And I need to make sure. If you're listening to us, you know more than your banker knows, because it is important. Can you close your bank and not use banks? No, of course not. You have insurance to pay. You've got bills to pay, your property taxes. You need a bank to function. But I can tell you what, we're in Sun City, where sometimes people keep way more than I would be comfortable keeping at the banks, and we can help you with what to do about it. We educate people on diversifying within the banks. We educate people on online banks where there's no brick and mortar. You know, we. We educate people once in a while that don't know this. If you've ever heard the name Discover or Capital One, you're like, well, that's a credit card. I've seen the commercials. What's in your wallet? It's also a bank. It's a big, huge bank. We talk about bank consolidation, we talk about all this stuff. And once you understand that, you have options. You can put some money, lesser amounts, in different banks. You can put some cash at home. That got brought up. The cash at home got brought up this week. If I take some money out of the bank and I put it in cash, that doesn't make sense because you said we're going to go digital. I am still saying we're going to go digital. What I don't know how to tell you, first of all, is when. So what you have to worry about until we go digital, what if we had a cyber attack or a power grid failure or a solar flare or whatever, and you can't use your debit card and the door to the bank is closed, not even talking about a bail, and I'm just talking about an act of nature. [00:52:24] Speaker C: You should mention the friend, too, who the Social Security office claimed that he was dead, so he lost access to all of his accounts. Like, weird things happen. So you want to make sure your money anyway, always have cash at home. Cash is king. Everybody knows that. That's it for today's show. If you like what you heard, you have any questions about any topics today or you want to sit down with us to review your personal financial situation, you can Reach out to us at [email protected] find us on the web anothermoneyshow.com check us out on YouTube. Give us a call 623-523-0444. Number again is 623-523-0444. No minimums, no cost for appointments. Nothing to lose by getting a second opinion on your financial situation. We'll see you again next Saturday at noon right here on the 960 the Patriot. [00:53:15] Speaker B: Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation, visit anothermoneyshow.com Investment advisory services offer through Brookstone Capital Management LLC, BCM, a registered investment advisor. BCM and Rochford Financial are independent of each other insurance products and services. Services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results. [00:53:53] Speaker A: 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 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, 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 E: 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 anytime 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. [00:54:55] 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 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 E: Well, a good credit score is so important to our financial journey, Right. And all the doors are kind of the good credit score can, can open for 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. [00:55:42] 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.