Full Show 10-16-17

01:51:29

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This is the financial exchange with the very Armstrong and jokes are. To our exclusive look at business and financial news affecting you today you're simply to a world. Stay informed and today about economic and market trends plus give breaking business news and every day. And now the financial exchange with the very Armstrong and shocks. It's. You. Own a home despite BP and most important conversation that you listen in on all day long the tax overhaul plan. Being negotiated in Washington. Has the potential. Two virtually eliminate. He'd break lawmakers once considered untouchable that would be called. The mortgage interest deduction. The break allows homeowners to deduct. From federal taxes money spent on interest tied to mortgage loans of as much as one. Million dollars hi everybody it's Berrian might with you here. On a Monday. And we're looking at the tax plan that's being proposed. And it's not so much that they're going to eliminate. The mortgage interest deduction as it is by doubling the standard deduction very few people will be of the take. Mortgage interest deduction yeah that's right and I think that's why you're gonna see this. You're gonna see it met with some opposition from you know the very specific. Which is a powerful lobbying group like that the homeowners. The the home builders association they're going to lobby against this. But it's your doubling the da this induction so most people are going to be benefited by this anyways. The way I see I don't think it's going to be that would add being. Of an opposition by the general public because most of them are going to be again that's double standard deduction depends on where that general. Public is populated the shirt you're. If if you're on in California if your were in New England. You know he chances and and if you're a homeowner. The damn thing to remember here folks is if you're not a whole war this new tax plan and probably win the only your rent or make an. The household income 8000000 bucks a year. The gift that truck tax plan is a home run for. If you're a homeowner lets you bought a place in the suburbs and you in the way work and your Macon I don't know combined income to 300000 bucks a year. You are gonna pay a lot more tax potentially. Then you might plan because what'll happen is remember their debt doubling the standard deduction like but the you're eliminating the personal exemption. That's sure and is they get the personal exemption especially if they get rid of the state and local tax exemption and that's going to be a huge impact to. Massachusetts New York Connecticut to New Hampshire Dana I'm sure California. That's going to be the real big issues is why I'm. I guess I'm separating the two issues and maybe I shouldn't be you know these go hand in hand. You doubling its introduction but eliminating but the called salt reduction of the state and local taxes. That's gonna vary adversely impacted anyone with high property tax or sales we're seeing more income tax or big or you see the. This thing to remember here folks is. Only 30%. Of tax filers are taking advantage of the home mortgage interest deduction to. Only 30% the problem is much of that 30%. Is located in New England. Yeah CD you know you just think about what New Hampshire comes to mind keep coming back to New Hampshire because they have no. State income tax people paid just boatloads of property tax in New Hampshire. So how's that might have a property tax bill. In Massachusetts a 7000 dollars could have a property tax bill in New Hampshire of 111000 dollars and for years people were saying like get to deduct that property tax bill. Ol and I've got a 500000 dollar mortgage or get to deduct the interest on that. Well if they double the standard deduction. Yet it you may still get to deducted that it may be worth a lot less you know the difficulty. In trying to decipher the tax code here in the tax proposal is we still don't know the brackets yes we have no idea. Exactly what incomes are going to fall into what brackets and that's right makes it very difficult to do any real announces on this in just for quick education we explain real quickly what the standard deduction so how does that have exactly it is standard induction work you know let me get everybody gets a and deduction. The you can either file an itemized return or deduction and the deduction is based on what your married or single yeah. So you can just use that standard deduction or. Oftentimes if you are self employed or a business owner you end up itemized deductions because. He have a lot of things to write up in your term but most people are able to file the standard deduction because it's more than. What they would be able to get by itemize their tax returns especially retirees like this by the time somebody retires. There are often down to one home. No mortgage no orders and no kids to get in the itemized deductions for each child so that's you know most retirees are just taking the standard deductions are veterans out there wonder what the heck is the standard deduction that's you know the basics and ones as well it's gonna be doubled under the new tax plan. But where I think is negatively impacts people as the two income family. You know when you've got two income families that are especially high income. High income high mortgage high property value high property taxes. Lag eat it'll be interesting to see this. In many are referring to this tax plan as being a welfare program for the red states because the red states. But if you're in Kansas you love this program because your your your taxes my idol will be 2000 bucks yelling in your mortgage might be 80000 dollars. Cost of living. In New England. Is much different than the cost of living in the midwest gets any any coastal areas are winners really going to be impacted bylaws draw blue state Esther publicist but there's a lot of the problem they're gonna have in this for. Return there this plan through is there're a lot of red Sanders Republican senators and congressman. In those states like New York like in New Hampshire and like New Jersey. Like California and convincing those people that they should vote this tax those can be very varied. While we have a poll question today and it's very simple. Do you file an itemized tax return now who files itemized returns like Michael sane people that own business. People with two incomes. And people maybe have two homes right might have home in the suburbs in the near the place up on the late career out I'm on the cape. Do you file an itemized tax return. Heidi purchased they just go to our website financial exchange showed dot com is the website address. Do you file an itemized tax return so far two thirds of you are seeing you file itemized tax returns 13 saying no. And I would suggest this to. If you are filing currently. An itemized tax return. This proposed tax plan by the Republicans may impact for you. You may be damaged if those of you were filing and I put myself in that group. We may be hurt by a having to did doubling of the standard deduction believe it's it's really unfair to say that. Until we know what those Braxton and we don't. And it website address financial Asian of Kansas there maybe I should move to Kansas and the problem is sent to. There that keeps him. The Euro rate about a lot of opposition to this. Behaviors and their different groups like if you're the National Association of Realtors at a rate if you're in the real estate sales business bureau. Vehemently. I do I have but it talks of realtors over the weekend. And Altai they would be vehemently opposed to this. They would I mean you know they came out and just said you know you better not touch that you know the interest deduction. Which they didn't but they get they effectively made it irrelevant. Well there there's scope talking about it out here the numbers right now 30% of filers are taken the deduction for mortgage is taxes. Under this plan to go from 30%. Down 5% which makes homeownership much less appealing there makes it much much. They're gonna they're going to be you know there going to be pushing hard for something new like it interest tax credit which. I get that that's that's really tough to let the big problem eat the good thing about the property tax elimination now. Is it put towns under a lot more pressure to be judicious with the way they spend money. Get dealers say hey I don't get to deduct that 8000 bucks obtain a property taxes. I'm going to town meeting and to raise hell yeah and make darn sure. At work cutting salaries and and managing our our financials in an efficient way yeah I just and I'm looking at I'm imagining that entire. You know. Ten miles of New Hampshire is an entire swath of New Hampshire that's on the Massachusetts border in that's just in my mind the most impacted part of that state. Within about liquid this hockey town appeal the waterfront home user of a nice view I mean there's properties on liquid the sapa news when the sake. Homeowners that are paying fifty to 70000 dollars a year property tax and they're saying. You know me there are Governors Island their pay and 5200000. Bucks and property taxes and you're out at all productive field that they're going to be Madison. Corporate taxes cutting corporate taxes this is a message being coming out of the White House today cutting corporate taxes to 20%. Would boost. Workers' income by 4000 bucks a year. Apparently unicorn exist you none on an IAA and there is here's the evidence to the effect. He there are ten countries with the lowest corporate tax rates and they do have faster wage recently. But there's so all that is fine but if you're gonna come out with a statement like this show me the man. Now the you don't just come out with some. BS statement like this and not put any numbers behind it that's how politics were having and it may be true. But now they they look stupid they just throughout these numbers and didn't put any base of fact behind its arrival is questioning it ends when they're gonna come out with some limited view of the idea is that by cutting the corporate tax rates. And you'll be you know trickle down economics you'll be. Having workers earning more and and don't reinvest profits here domestically which would drive up wages which could happen. Hypothetically. But show us the numbers is your Social Security benefit really going to increase next year. I think you're gonna learn in a moment that it's not you were told last week on Friday. You're getting 2% increase. In your Social Security retirement benefits on January 1 of twenty team when we come back I'm gonna explain. Why millions of Americans won't in fact receive that increase that's next from the financial exchange radio network. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that aren't. Break here we Berrian just on the financial exchange radio network. And he spent the last thirty year forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every Don about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and have offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our web site Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com securities offered to securities America incorporated member and as a BC and advisory service is a of the securities America incorporated Barry arms are represented their arms an advisory group the securities America companies are unaffiliated. Hi this is very are strong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out bank is offering in east savings account providing free online banking with a one point 15%. 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Absolutely vary so we we develops the rain to out of me the whole race you know because right now. You know with the landlord when you're getting rain checks. It's low it's unpredictable. Missing envelope the great line in the post are you waiting he might not get all the rent until the tenth or fifteenth of the month. Furthermore if your landlord on vacation in your race thing O box you know so would he does is it really gauge they'll. It makes the ranked electronic payments it allows for roommates sharing their multiple roommates and apartments that's great if you're renting out to college student absolutely. It's predictable it comes at the same time every month. And it's all on me. So the landlords who have been using assisting huge time savings and ointment you are you still giving the first six months free for landlords the first six months or free and then in addition to that. If you bank it one of the participating banks he ran is always pretty. Those participating banks are meter being installed in messed me up at that any bank could sign up right now they keep you at a bank in Vermont to Connecticut. They could sign up and become part is he rent yup you your if you have a community bank that wants to be a member happened Collison will have to sign up and the service and then be free free. All right if you wanna learn more about easy rent. Go to Z rent dot net you give my call if you wanted to 8776917900. If your bank doesn't operate they can sign up for is he wrecked. Go to zero rent dot net or call them told free. 8776917900. Security suffered through securities America Inca members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. This segment of the financial exchanges brought you by leader bank if. You're looking to diversify your portfolio. Precious metals are a Smart investment. Gold and silver bullion coins are now available at all leader bank locations. Call 8776917900. Or log on to leader bank dot com for more information. So last week on Friday Thursday or Friday it was announced that. Retirees would be receiving a 2% increase. In their Social Security best average increase would be about 25 bucks turns out that was in fact not true. Well. Parents say look at is those top line is increased that I top line is increasing. But what they found that approximately 70% of retirees will not see any increase at all because Medicare premiums have also been going up over the last few years and really is hold harmless provision in his sister was basically says. If you retired as a certain date and you get your Medicare premiums paid by some security we won't producers are security and pays and care premiums. The I hold you harmless today because there's a lot sync your retiree benefits can never go down they can't go down. But since they're supposed to go up and they haven't him Medicare premiums go up and up and up and new tires haven't had to pay Forbes's hold harmless provision now that. So securities gone up a little bit they're discussing around. We need that carrot Medicare premiums we said they would never go down but we're not gonna let you go up when Medicare claims he's gone through in the premium now as 138 dollar to the veteran Zach 300. Sorry for seventeen progress 134 with hiring. Him if you're an orbit more again new animals and yes in new were passer security and Medicare beneficiaries pay more but if you're earning more than. Unique and we don't know the premium for next year we don't we don't Baghdad. Based on just general health care costs being on the rise in the last few years I would imagine. Vast majority of people it is Tennessee's. Going to be a number on paper. If you're highly compensated worker next year the amount of weeds that will be taxed by fight right Dave that's the amount each year last year it was a 127200. Next year it'll be 120700. Dollars. Just thought I'd mention it because there's a 175 million Americans pay that tax yet not a higher taxes certainly wrecked that tax. Older sicker Americans will foot the bill. For trumps health care orders now we talked about this last week that is the fact but younger healthier workers they benefit. So just to back up here and talk about exactly what were mentioning your city the executive order that effectively eliminated the subsidies and insurance companies receiving for offering its plans on the public markets and the addition to say okay where else can offer these much lower cost and I guess less. Comprehensive plans on the market. The theory anyway is that you know younger healthy people are gonna jump on these cheaper plans I wouldn't. I would third you know I had their daughter's old no no health issues and not as I'm married not have a family band I'd be all over exactly. But in days. Absolutely correct that you know you're sixty years dole your 62 years old then you retired a little bit early and you've been you know getting on these private exchanges and you're on a number prescriptions. Yeah you're your dreams for these insurance policies could conceivably double unless your pork. Wrecked and tore the Euro case where you where you get hit by I think it's what 4045000. Dollars is the top line of how much you can earn and receive those subsidies. You know and and if you're so if you're poor then you're okay. If your middle income to wealthy. You are gonna feel the pinch especially if you well if you're sixty years old and you've got. You know a couple million bucks in the bank and its Pena some interest in some dividends and if some other sources of income you organ again hammered that that those people are gonna. Wealthy people and middle income people and get hammered on that bill but poor people I wanna make sure people understand this. Old poor people will be okay yeah is this the EU you'll be covered by the state and they and the federal government. Here and young people women young people this is a huge win for you especially single young people here's where I think this exchange. I think about. The majority. Trump supporters and and they fall into this category that can be very adversely impacted by this executive order. Well. I mean vast majority from voters were over the age of 45 if we don't know how many more pork that's true if you had a lot of poor ones to appeal to. That's true if the if there but I mean. I want it just defines from ray fewer polling and household income of 50000 dollars in you can be really really adversely impacted by this right. They it's the that that is what's happening that was announced last week. Modernizing. The US currency will secure our future NC billions of dollars now we've been talking about this. Oh probably for 35 years candidate did this Tennessee back in the 1970s. The average of the pen and certainly since I've been and they got rid of the one and two dollar bills disease that two dollar bills again. And they went to court it's the looney and the tune them and it's saves you a ton of money now they seem counter intuitive humans who hottest eliminating the one dollar bill save you money. Probably one dollar bills is that gets a gift to reproduce them so frequently because they Wear out. They're expensive to make your reproduced every few years and then they also mentioned the fact that I think have witnesses. This point that the penny costs one point four cents I don't think everybody does it every company. It's time in circulation. Gusty one point four cents to make this vets that know breakers and the aid is images silly that that's they'll even an issue and then in nickel is very expensive to make as well. So if they're here is that if you just eliminate the penny change the way the nickel has made and get rid of one and I mean two dollar bills barely exists this attribute it. Turn those into coins you could save taxpayers sixteen point three. Billion dollars that seems enormous if you wanna cut back on illegal activities. Reduce everything down to a twenty dollar denominations know fifty dollar bills know hundred dollar bills. As and when it does is it makes it very difficult to do if you are not transaction very large cash transactions brokers like you think about. If you went from his most large cash transactions occur with hundred dollar bills right so anyway it would it would increase that transaction size by five. So let's say you're. Shipping a bail money out I'll listen and yet to ship five deals of money to get the same amount. Yep as well that was an idea that came out of Harvard with him or the we had a professor on from Harvard Williams top about it. And you know these a lot of people that would like to eliminate currency altogether. You know it's still used in 50% of small transactions which I was surprised. Yeah you guys use cash indeed used I. I can't tell you the last time it rarely ironies cash as well a bit. As insidious yesterday is like a three dollar transaction is still easement partner is a blue byte mentality. Yeah there's there's a lot of concern about getting rid of cash in general and there is you know it just allows the government crackdown and track every single piece of dollars spent but if you look for a way to do things like. Wonder fraudulent transactions. Or two. You get rid of other team India will get back after it right we'll talk more about currency changes when we return. Along with a wide baby boomers can't sell those big houses. Next from the financial exchange radio and. Making your Smartphone even smaller here don't go mobile lab by surging financial exchange shelf in iTunes or those who. Who played stores this is the financial extremes radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent today with easy round leader banks all mine rent collection tool he automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW he ran Doug meant to learn more or call 7816418691. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. 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Or visit leader banks dot com member FDIC's equal housing lender and MLS number 4492 finds he. Grow subject to credit approval leader bank a step ahead planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from pro ready to. And in order to make sure that your process goes as smoothly as possible he needed with an expert Todd let's keep a partner with the law firm of Cushing in Dolan and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month and has written a brand new guide called designing the perfect income only irrevocable trust in it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come legally exchange show dot com. If you're a real estate or property management company Unita banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has a team of business bankers that are on call. To help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as their banking partner call 8776917900. Or email BBO at leader bank dot com for more information member FDIC equal housing lender. Time now for Wall Street watch a look at the market's performance so far today but I do Berrian jug right here on the financial exchange radio network. Markets generally in the green so far this morning Dow is up. 32 points SPF about two points or just slightly app big news today is that Norstrom announced they're going to be pushing off any. Discussions taking the company private at least until next year after the holiday season news on an extra stock down over two dollars about 5%. In addition sprint and T-Mobile discussing a potential merger although with the deet tells the merger coming at it looks like they were not trying divest of any assets. Meaning the potential of actually going through regulatory standpoint pretty oh neither company moved substantially on that news. My guess is because of that. Sprints up about four pennies and T-Mobile is down about fourteen cents. Baby boomers are worried that they're not going to be of the cell there the main options you know the mentions became all the rage honor 1520 years ago. And a lot of baby boomers when there had big families they go by house 567000. Square feet 101000 square feet. Now problem is nobody wants of the gaming unit but it looked at. Yeah I mean that's commit these 5006000. Square foot hole this guy in one they are built a lot during the eighty's and ninety's a lot of them have not been significantly updated C products. Wall to wall carpeting odd things in new buyers don't want. And then additionally a lot of them don't have any sort of you know. Living space on the first floor so if you're retiring baby boomer. And you're trying to retrofit your how she might be putting it bedroom and bathroom on the first force that your comfortable living there. Yeah days just a very tough market these homes well if you look in terms of viewing. It is they take twelve to 45%. Less views on zillow in on REALTOR.com so when people are going to look. You know they're not looking for the 5000 square foot house that you part of this has to do with family size. You know you have your generation. Was the last generation word that your parents had a lot of kids yet now. Most noble ideals if they have any kids rate might be one or two diabetes in and a lot of mark evidence. Edge is different priorities you know people do you know wanna spend. Thousands of dollars on Maloney answered you hours and hours or weekends on him all in the rule on engine deal with these very big house's you know not to mention. Utility bills. Energy costs all these things property tax bills property taxes continue to go up. Things will be difficult sell some of these places 73%. Slower on average to sell the mansion as opposed to the you know a more modest home and concerned there is too you know a lot of people factored this as part of their retirement plans and good luck you know ways this was part of a cable or downsized down the road equity from our all and be able to reinvest that live off after the restaurant lives. Well the demand for those smaller downsize Holmes is way up you know the prize the average prices of those. It 2000 square foot single living homes is way way up in the prices for these nick mentions is way way down yesterday we'll pull those. Plants you you have to be willing to take a loss in and people in other real estate market's hot that's only backed notes. Not on the nick mansion in the mean actions. Ye your your cell and on sometimes 3040% less than your cost businesses and that property. You people are so doing you thing a major improvements in your taxes over the years would be awesome some places the new houses being constructed. For the first time in ash. Four of have actually come down in size yet the average floor area a year to date for a new house is 2420. Square feet which is still pretty big but that's down from last year. The record was set back in 2015 for 25 twice with the average square footage for a new home built so that's very indicative of the issues at the mansion and mr. right. Face they don't forget during the month of October crushing in Dolan is offering free guide it's called designing the perfect. Irrevocable trust who's prepared. By the law firm of Cushing handle it it's yours for free if you go to their website our legal exchange showed dot com it's only available on line this month. Legal exchange showed dot com so you can download the guide designing the perfect irrevocable trust again that it was produced by Cushing handle. Colin tapper neck has filed a grievance. Alleging collusion. By NFL owners. Now we're gonna find out is. How much of this I mean that the the collusion Tucker your more than football activity. And eight. I would think is is a pretty easy argument to me that the U owners of polluted and say we're not gonna. Hired this slide out wool I mean than the orders to his funeral he's really not that grip quarterback. And that's ornery don't want assigned agents say that they can say that's open gets a look at all the fluids intermission. Proving collusion in this case is going to beat Ares via I think you're gonna have to have a smoking gun dealer for him. I mean sherbet you don't think there's some scouts that said to their owner is sent an email we should. You know data email and have a Green Bay. Right now I don't think there's a scout her assistant coach at Green Bay yesterday who said he would boats on cap expert this guy on the Sox. And Aaron Rodgers is over done you know those extra it how many quarterback he's absolutely probably. How many quarterbacks are worse than him if you if you were like. Drafting team building team record. For Jackson. Is certainly others. But again you know he won't be hard to prove the individual owners can certainly say that they don't want to sign cap because of his social socialite and there are allowed to you know there are allowed to make those decisions. And him bacon allegedly blame it on. On performance. The issue is going to be proving that those owners along with other owners in the NFL. Colluded to say no we are going to block captain Chesley Seattle they can be hard to tell the truth because first of all the players union. Is the crisis. That is all being funded players' union. And they're gonna have access to. Phone records they have access to emails they're gonna look at I'll promise. There will be smoking or mid smoking if these owners are Smart is this lawsuit were dragged out. Probably like a year or so it seems like it's like one of those things is to recover holes several years just Simon guy. Saturday as a backup somewhere and just put this thing to bed and think about the places he could play. And a lot of subtle as a backup in a lot of people attacks insane ways not acrid quarterbacking when it started January nowadays herbal that may be in pitcher that he wasn't that great but I guarantee you he has better than some of the backup quarterbacks rosters and then in the starting corner Tucker how many quarterbacks would you. We do you take. Arguably portals you mentioned them and protect our prick over portals he's he's awful awfully well yeah I'm ten. Now. Rehearsal starting quarterbacks now real. Maybe this new guy humbly. We'll sees a rookie with the Packers but Woolsey. Well it's going to be her client who's the Cleveland quarterback what is it like Owen not mean that in it's a different situation they're rebuilding made a rookie there. They throw back at Kevin Hogan it's awful. Yeah outages rebuild links capita wouldn't be a good fit there. Now any ideas. I I think it'll certainly be entries we heard by arbitrators courts in and it's not it's not court filings has not maybe I would imagine trying to can be very pump. Well I think she's happy now this the scanner dragged out and covered almost every day the players I mean. The players union uses and the air and again access. Just legend text messages. Think about that the text messages that exist between G and just. And coaches write it because this past behavior if you're coach and you terrible team in you're gonna get fired right Mike McCarthy. Right here for Green Day yeah. He's right now he would sign cap. You don't think so I mean let's do a bit they wanna see with his kids were rod Hundley does because he's a rookie zone miracle I am he was he's a rookie up. But isn't the issue of the collusion conclusion has to be proved between different teams not just between the single team right. So you don't think of the text messages between different owners. The there will be August or find out. There will be. Long phone calls that are documented I'm telling you I. I don't see. What I do know is it 70% of the Lee is black. Right and these guys are ticked. The the he's here purity I was there any yet viewing history and and I didn't seeming kneeling yesterday you didn't I did not. Was it in there may have been may have been and that wasn't televised. And how it right there wasn't wasn't we and we don't any rating numbers one dollar and it's going to be too we too soon we get a billion like Tuesday Wednesday. Just as Monday. It that's very that is mud tonight's Monday Night Football to people talk that's that's. Today we can't talk about the Bruins haven't talked about some place finish fair not a good team. Their ratings are in the toilet by the way I'm sure they are federal one point 69 which is awful. They let's talk about buying so for on line he has ever bought furniture on blindly yes yes I bought a TV stand. Way fair and whisper yeah I've got a lot of I haven't bought a sofa. I haven't bought anything that I meted. Feel comfortable. Right. But something that I'm just fine for looks that day you know mainly you know your city stands tables first or whole apartment Wafer now. I like to go sit nick never sat in the count yeah exactly I need to sit on a chair or couch what's your entire ice just under dollar delivery charge with. My sister has a lot more about the looks something accountability through. Is that Costa for a vote to bring it into the room it's 49 bucks to get the Letterman later that's a park. About it's not where in about it delivered I think. They will deliver anything for free if you place an order for more than 49 dollars to deliveries free yet as to let Seattle moved into like if you wanna have them moved here. You know your couch. Into the actual living room and send up to a charge of that if you want to dropped off the front door or action in the entryway motive for 600 bucks is the average sales price. From Wafer you know the average prices and girls. 400000. Dollar that believes that now it's cheap it's raiders have really changed and they still haven't made any money. We'll look at their revenue growth and this is a huge if the EU if you look at. I was looking at this this morning. And if you look at their financials. Weighed fare in terms of a growth rate. I'll give you the numbers in fourteen they did one point three billion in revenue sixteen they did 3.3 billion. So who do you think they're taken market share from. Like I. Probably probably have a way fare is of course the Amazon effect. Win and we'll Amazon make a real big push into this and does that impact guy like Amazon's part they mean not. Because they can win or lose it so much money paid him. But see they are considered to be. And acquisition tack candidate for two reasons one the revenue growth is through the roof I couldn't believe how quickly your growing revenue and sales. And and no the did not want competition in the market the women. In our lives H they shot it down. They will. You text says six or three I'm UPS driver and there's currently allowed seat in my truck the dollar hit a fitting UPS trucks and they fit in. Living rooms and FedEx trucks no fedex's delivering them as well they it's it's becoming very common. You just wonder. Like you would you like to know we we don't seeded Jordan's numbers because they're owned by Berkshire happily when you like to know what they're doing other furniture retail. Gas. The answer yes. Hey coming up will be talking to Patricia a week from Morningstar about a mutual fund. Grab a pen to paper mutual fund tock is next from the financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center at the end of the year. Keep it here with Barry and chuck for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio network. Retirement it's something we all think about and all of us look forward to it after many years of hard work but are you ready for mentally perhaps but there's much more planning required if you wanna rest easy in your later years hi this is very are strong and this month my firm the Armstrong advisory group is offering brand new guide called retirement readiness unit you'll find information they can help educate you on what steps to take to enjoy a safe and prosperous retirement such as how much money you'll need to maintain your standard of living and don't forget about health care costs and tax considerations it's all in this brand new guide which includes your own retirement readiness checklist you can get the guide by going to our web site Armstrong advisory group dot com that's Armstrong advisory group dot com learned today so you can plan for tomorrow download the guide right now at Armstrong advisory group dot com. Juries are for two securities America incorporated member finreg SAP C and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Are you financial advisor who lacks the formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age 55 and many had no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both are hiatus and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated members and SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Everybody it's very Armstrong and I'm joined today by estate planning attorney Todd lot ski from the law firm of Cushing and dole and I were talking about drafting tips for your Medicaid income trusts. Todd you know I keep reading almost on a weekly basis about stories worst states are challenging. Durable global trusts and Medicaid applications. What's up with the increased scrutiny on these trusts. Yeah the problem is that you know many more and more people maybe are trying to draft him more more lawyers are trying to get into the field that that may be our race. That's the safest way to say it and and they're putting paragraphs and that that just caused problems if you if you wanna put it in English because a crack in the ice yup and allows them to reach and in you know grab those assets from the trust and it's that that paragraph that causes the problem and so they're starting to realize that rather just put states are true yeah. States are saying you know we're gonna we're gonna take a closer look at every one of these trusts and see if there's a way that we can find a crack and that it's well makes sense now. Whipped eight would have been. What's the result if you lose if you go to a fair hearing you lose what happens while if you were to lose that the assets basically the assets in the trust that you might have told your clients are going to be protected from the nursing home. Are no longer protect they would be considered accountable that's. And exposed to the cost of nursing home care so it's a big deal it is a big if you lose it's all about drafting Jerry it's all about making sure war. You put the right paragraphs in the trust. Folks if you have a Medicaid income trust you may want to have it reviewed to make sure that your assets are in fact protected. He can reach out Cushing handled by call them at 8668485699. If you wanna copy. Of the October guy it's about Medicaid income trusts. Most of you choose to download the guide from their website which is legal exchange showed dot com. Legal exchange showed dot com for your copy of Medicaid income trusts. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. We started off the hour talking about tax reform one of the things that will impact many of us. To be increased standard deduction. Net result is you. Probably will not be able to take a deduction for your mortgage interest in your ability to deduct your property taxes take a look at your property tax bill folks. If you live in a hole that's worth 700000. A million bucks. Eat your property tax bill is very large it could be depending what time on your and it would stay accurate if you're in New Hampshire and you and a million dollar home with your property tax bill there's. 1010151000. Dollars if you're in Massachusetts and you have been million dollar home tax bill and 1213 thousand dollar. My point twos. Under what's being proposed with tax reform. Won't be able to deduct your property taxes anymore you get an increase standard deduction. We do mean that'd be able to deduct your mortgage interest anymore do you file an itemized tax return because if you do. You might be a loser under tax reform. Our poll question is that very question do you file an itemized return surprisingly. 78%. Of our listeners that he point five. Violent itemized returns at the preakness number no EU fear the type of listener we have is educated and affluent so. That speaks to their. Situation in you know educated affluent people tend to itemize their return to make. 3400000. Dollars a year household income they live and home they got a million dollar mortgage they got a 20000 dollar property tax bill. They're gonna get hurt by tax reform what do we say air the average rose cross country 30%. Only 30% across the country today. Even with with Dave the levels yet file an itemized or turn out. It's gonna go from 30%. If that proposed tax reform bill bill goes through its gonna go from 30%. Taking a deduction for their mortgage down 5% and the 5% will be the uber rich the people that are. You know million dollar incomes and up in billion dollar mortgages. But just that's what the debate is all about that's what you're gonna be hearing a lot about I think let's October now. I think this debate rages on for at least the next four months probably five. And maybe if we're lucky. He gets and kind of a tax package by the end of march of next idol that I know many pundits are saying all your get tax reform this year including. Larry cut his good friend of the show Larry Larry maintains I believe that their intense it's going to. Duty just wait it it doesn't seem today noses eighths going to touch from a Frederick. We will have the opportunity on Friday. Pay let's take a look at Tesla the just announced over the weekend that they fired hundreds of workers as part of their annual reviews. Yeah. I don't really know what to make of this in we don't during a whole lot of detail this two. But the reasons why there and get a 33000 orders a file for fire for a seven under for performance does that make sense for when your so far behind on. Production Agassi depends where does he could be ample working in the stores run off Santana owns also the think of all the people in the the solar panel so yeah that's true there are losing money handled they do when they don't solar says he's owners it and they're losing money hand over fist with and I guess you know what if you're not able to produce as many vehicles yours post news and maybe hiring some of their firings of these sales jobs data makes sense you're trying to keep out you know you're not able to actually produce the current leaders must be producing. And then maybe you do need to carry your sales force and some of the specific target aired targeted areas just hopefully not in the on the floor buildings. But the big question news. Can they reach their production goals I don't think they're gonna reach them and Q4. Now I intend may get their production of the model three is think about it. If 400000. Orders for the model three that's how many people have written a check and say hey here's my thousand dollar deposit. I want a model three. There are pretty good looking car fi in my opinion and and I can see like people want the go 200 miles on a charge. They can't make them faster. You were talking last week about how companies like GM and all this excess capacity did you ever imagine them striking up a deal with one of those factors say we wanna user access capacity to put some of these model threes three. Well GM to your point in Michigan is that not idling factory that reducing the capacity yeah. They Tesla factory that they have been fair amount I believe losing GM Toyota joint venture they bought from them. And converted it into Tesla factory biggest problem we have is that aren't enough parking for their employees. If that as it's kind of. Classic problem the that's where they stand. Right now the markets opened the Dow up thirty points 22902. NASDAQ up fifteen points at 6006 when he won. And I'll tell you what big story today is crude oil over 52 dollars a barrel that's very crude oil trading at 5204. And gold is up two dollars and fifty cents an ounce at 1307. Dollars. Around it's Michael and vary from the financial exchange radian. Planning for retirement. Is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and ML customer 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Maverick DNC equal housing lender and number 449250. Subjective credit approval leader bank a step ahead and he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every dot about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we're looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and have offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com security suffered securities America incorporated member and SIPC advisory service is security Tamara. Guide to retirement planning it's really important that you do this before you retire. When I talk about two things that are critical aspects of retirement and that would be Social Security first and secondly Medicare is your Medicare supplement programs in your Medicare part B program. You know let's talk a little bit about Social Security everyone knows that you've been paying in these programs really for most your lives if you've been working. But there are a lot of questions about when you should take Social Security in the first thing that you need to understand is a concept called full retirement age and that age differs depending on when you were born as an example if you were born in 1942. Your sports harmony ages 65 years and ten months you're born in 57 it's 66 years in six months you have to understand this as well as how your Social Security amount changes based on how long you wait. Right the other thing that you should do is take a look at our guide me again at stake in the guide for retirement readiness exclusively available from Armstrong advisory group. But as it relates to Medicare. Each state we've listed on the in the guide each state and the web site that you go to for each state to calculate your Medicare program in which what's best for you. Yet differs depending on the different states and you really need to be cognizant of this when you're building your retirement plan. Well the folks again. Just to reiterate this guide is available exclusively from our strong advisory group it's called an investor's guide to retirement. Readiness. You can receive the guide by going to our web site Armstrong advisory group dot com only available on line. Armstrong advisory group dot com. Go to now Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just makes sense of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency can't guarantee by the bank and may go down in value leader back a step ahead. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from pro ready to. And in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's keep a partner with the law firm of Cushing in Dolan and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month and has written a brand new guide called designing the perfect income only irrevocable trust. In it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed dot com legal exchange show dot com. Your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out bank is offering in savings account providing free online banking with a one point 15%. Annual percentage this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new savings account that has a one point 15%. Annual percentage and no minimum balance and remember this product is only available online so logon to leader bank dot com right now leader bank dot com a step ahead. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your. Leave your world and stay informed and up today about an economic and market trends plus get breaking business news every day it's. And now the financial exchange with the Barry Armstrong and chuck son. There's a lot of talk. In Washington. About doing a major tax reform bill. Matter fact it's expected that by the end of the first quarter we will in fact have tax reform one of the aspects of tax reform. Could be that it will eliminate. Property tax deductions and it will limit. Mortgage deductions hi everybody it's Berrian might with you here. On a Monday morning where we've had a discussion about the proposed tax plan there's winners and losers under this plan. The winners would be anybody who's got modest income and is renting you why do you win well your standard deduction is going to be doubled. You're not truly doubly because you lose your personal exemption but your standard deduction has doubled. Those of you who owned homes. In are paying property taxes you could be losers under the proposed tax. We will we're still waiting a lot of details and that's really important stress here we don't know where the tax brackets are going to fall we don't know. You know how these debates are gonna roar on about what is still remaining at the production cameras and the biggest single item out there in my opinion are the salt deductions. State and local tax deductions whether or not does get negotiated this the the number of questions that are coming in and had come in all morning long on this topic is. How does this affect homes without mortgages were a lot of retirees don't have a mortgage in all they've got as a property tax bill. It's not so much weathered affects. The value of your homes I think if you have a really expensive homes are you had a hole. With 20000 dollar property tax bill. I think it's gonna devalue that probably is no was gonna wanna pay that property tax bill that get deducted against their ordinary income does that he can do today. If you have that. 20000 are property tax bill you look at and say OK well it's 20000 bucks but a minute 40% tax bracket socially like 121000 yeah because of attacks. If all the sudden you can't deduct your property taxes which is part of the proposal. And it's gonna make expensive homes much less attractive. Home. Could that eventually impact the town's assessments of those properties. And yes Isaac coming out because what would happen news. You're smaller homes will go up and yeah and your bigger homes come we got the big mansion that was gonna want them you know Watson now. But he he even fewer people are going to want to effectively here's what you should understand. If you are. You know high burner right now I think median income or on the countries that 5060000. Dollar range but it lets say your household is. Net income of 2300000. Dollars or more. And if you're household has a big mortgage and if you're property taxes and big bill in your filing an itemized return in the northeast you live in New England. Chances are you gonna lose under this tax reform that's my interpretation of thus far. Chances are if you make a lot of money and you live in a big house you you're you're gonna come out of loser in this bill. If you're renter. You're you're probably a winner. And if you're old and you paid off your house. And you live in a modest house he may end up being a winner but if you are it is you know if you're that. Dual income family and you got two homes maybe in maybe got a vacation home up on lakers down on the keep. I think there's the potential for this tax reform bill to do some damage. Right now we asked a poll question in the first hour which was you know do you file an itemized tax return 76% of you. Do violent item is to itemize tax return only 23 point five saying no I do not file an itemized return. If you don't file an itemized return. This is a big win for you injured in double your standard deduction right so you know the we have to remember. Our audience tends to be educated in rich so. That that's that the primary focus of our conversations. But if you're not rich if you're renting. Boy yeah I think this tax reform bills and look like a pretty good deal to deal and I've joint testing deploying go to financial exchange showed dot com and respect in our poll question which is do you file an itemized tax return. Record job openings are not enticing workers to quit their jobs as early surprise but yet you know the the coast original report of the number of people there quitting their jobs and moving on something else and the percentage of people that did so dropped. This summer and I guess my question for for you is why it is so different about this job market which tarred by the similarities between this job market in the ninety's. But back in the nineties you saw people quitting jobs and taking new ones much more frequently art and I don't really understand the differences I think the big differences we have an older workforce today. So you know if you look at the average age of the American workforce today it's much older than it was in 1999. Uses which is what. So in 1999 if you don't remember folks me too young to remember too that the job market was like the you know workers had the upper hand and when you're hiring you and offer signing bonuses in new stuff to retain people. Today you have similar rates of unemployment but workers are leaving and I my speculation is. If you're a fifty year old worker if you're 63 year old worker in your sane one should be retiring in a few years. Do you really want it changed jobs and give up all your seniority give up on your vacation time. Chances are you deal. And I think that's what's keeping people their jobs I think that would make a lot of sense you've only a few good in that company for ten plus years you probably a lot of vacation time your you've got a pretty good work life balance your coasted and and yet you make a stick you know stick it in for another three or four yours you just describe myself. I think we coasted. I've been here long time a mold sure I'm lazy on the missed a missed paying an insane enough says that data shows up for work every morning I thought there yeah. So maybe that makes a pay me as I get I get to do this and that innate it's pretty good deal be aware of student death. The news that student debt relief scams it's it's. Common I'd seen these actually advertised. Adding others yeah. But I seen you may mussina Tucker where you beasts are for non you know the net measured on FaceBook there to be on Google just do and looking for something. In this it will help eliminate student and you're seeing now in all of us a check for 15100 bucks and we'll take care of whatever have you ever clicked one of old god no. Yeah I mean they they. They look a little bit IC has been you know it not a lot of people are picking up on this American Los at least 95 million dollars. To these types of more you know student debt. You know. Consolidation. Or stay even as he scans ECU with credit cards he has been a lot of states was states have been outlawed a lot of but what happens here is you'll see in that. In and say something like. You know do you rule more than 151000 dollars in student all black who doesn't leave you at a college chances are he'll more than fifteen grams in Wiltshire we'll eliminate your debt. And caught click here we click there and then all of a sudden you're told you give them credit card. And for thousand dollars they'll help eliminate Bill Bailey to all the programs that are. Out there that'll help eliminate your student loans will get there are none. If if you are we trying to point people in the right direction here and you know it's just. It's not an easy thing to do if you have student loan debt there aren't a lot of ways to get rid of that there's a huge ones but you know don't. Don't go to these third party companies for profit don't pay an upfront fees and it is definitely don't pay enough for him any less Americans ought don't pay some. For this week you can use the income driven plan right so if you graduate college and you've got a 100000 bucks in debt. Annually making fifty grand a year. You have to pay to hold on because that them the payment on a 100000 Austin might be a thousand bucks to a hundred bucks. So you have to make that large pane I mean if if you're really looking to selling one visit the federal student loan website and get or reach out directly to hold. You've got a blown held by Citibank you know don't reach out to some other third party companies it's not meant to loan retired city. There's other programs in terms of deferment or forbearance bureau employees get sick. If you're doing public service a target nude teacher yesterday and she's teaching in an inner city school and getting vegetables age makes good wage. The student loans are being forgiven. Because she teaches and in university school yet so they're different programs available to you depending on what situations. Coming up we're gonna be joined by then to lean on the Credo from The Economist Magazine did you know. Mean out of this did you know that there is any shortage. A shortage of factory workers that's right. We can't find as a country we have a shortage a factory workers first of all or explain why. And how that occurred that's next from the financial exchange radio network. Markets continue to fluctuate but we judge you covered get your daily update on what's hot and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. Many of you who've listened to Todd lets you for years on the legal exchange radio program are probably at or near retirement age and if you're one of his core listeners he now always an expert an elder law in the state planning if you been thinking about starting me estate planning process or just under way you want your trust documents to be prepared properly so that your assets are protected from the nursing home. It takes five years to secure that protection and you need to make sure that you aren't wasting your time in your money and legal documents that don't work. This month Todd has written a brand new guide called designing the perfect income only irrevocable trust they contained the specific language that must be included in your trust in order to protect your assets from probate. This guide is available exclusively. By visiting our website legal exchange showed dot com that's right the only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's illegal exchange showed dot com. If you're in the market for a small business loan you need to call leader bank if your small business looking to expand or improve your infrastructure you need to take advantage of this great deal from leader bank for a limited time your business can get an SBA loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and ad rate is locked for four years in a democratic rating of 700 and give you an answer within ten days of receiving your completed application. This is the number you need to call 8776917900. That's 8776917900. Take advantage of this great offer from leader bank a four year fixed rate loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and you'll hear from them within ten days of receiving your application 8776917900. Call right now 8776917900. Member FDIC. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking when he one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't Dele log on to leader bank dot com get all the information about this great offer and sign up today be for the rates change get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. The financial exchanges live on FaceBook and YouTube watch Barry and chuck discuss the issues of the day and see which one smiles the most. Days as the financial exchange radio network. American factories could frost prosper but darn it they can't find enough skilled workers we're joined now by then to lean Von Brito from The Economist Magazine to talk about that very topic. Then d'alene welcome news show. Yeah trying not to be on this nice to meet you by the LA. And those are pleasure. Explain to us how all of a sudden the United States has a shortage of factory workers. Well it me or look upon eight and they've done a few years ago and it sadden. So it I mean look at one at the end it as well to just give me. Black has the best news that evening being an Epoch. Let's talk about the skills gap. In matter actually and it's something that that great headache. People I am not a factor at all over the country. I would think that this means that if you are manufacturer you're gonna have to find unskilled workers and train them by yourself because this. Our school system isn't gonna do it. Yet and it. They are trained on I don't I went to see PPG. Did Oakley with constant. La week. And they may could patent that paid special gimmick that they told me just that it will take on look at them. Came back on the job. Eight. Problems finding enough look at and that they say it. To me that topic is section of adult that manufacturing. Is widely regarded as. And they just a dead heat up and I think he can get in gotten like it was would be at the beginning of the lock and treatment and the idea what it is that bad at stopping that they is there he had in two to decide on. What kind of wages were they paying you know did they tell you. I think and I'll pay it wages. Three times the minimum wage. And expecting. It is they unionized. Treatment and ice storm. And and of course you know that happened at an opportunity of a Bondsman you know mountain is insane but I actually you can move on to. More highly. Well and Adam and and it was a clean it. You mentioned in your article that wages. In China are increasing in that's part of what's bringing factory work back the United States. Yet so waging in China have nothing to increase again. A few years ago. And a quote that make up soaring yet the chalk it mean. So and although they are told about offshoring it. It seems to be let out respect to American jobs now. And just keeping it actually in America. I've become more track is at and I can come to me and I could actually I think more compact is. We'll talk to us about factory worker output I was shocked when I saw how much our productivity and how much. More efficient American workers are than workers and other parts of the globe. Yet but think why. As surprising yeah I think about that and an American manufacturing costs more than double. Output in the and speed that they've opened bacon and two trillion today and productivity is seven shooting up. And looked fit into that I don't put it. It by 47%. Between 2002015. Which was high at that gains stay in Britain. From that Yemeni what. Weapons activity is very high it is. Sounds largely. As if they just need to pay a higher wage mentally is that your like when you look at this. And and you're saying like I was looking at the story about Groton Connecticut now I have a friend who's trying to hire people down there. Have a heck of a time hey it it sounds like if you pay more money you'll get the workers. I don't like I mean I'm sure that that part of it. I thought. Eden. Getting blood tests to apply for the job but at whatever wage and he would wage it. I think I think manufacturing also are a bit up an image of them I'm not. And it just you know that that it talented people but not that bad because they don't lacking in manufacturing and not act. Even they gives you an outdated ideas of walk that line of acting. Dull actually looked nice and it's one of the reasons why. Money market in the pot that pot pies yet. I don't match on my new national mood actually today on the fast side and up to that. When the thousands of actually wrote. It doles it didn't do the public debt to show you what does that actually actually look like from the inside it that panel that essence told them that the and it's really trying to convince young that it kick I apparent. And activated it and in my capacity is actually very flat wide patent pad and signal to potential. You know read to lean in in talking to other employers that are hiring these types of workers. Two things that I've heard reference than and I didn't see them in your article but maybe you're aware of them one was like debt submarine base in Connecticut. They're doing extensive background checks before they hire somebody and and a heck of a time finding somebody can get through the criminal background checks. Then the other thing they're checking for is drugs right you you can't smoke marijuana. In working a lot of these factories because the insurance companies don't like it. Million that's why I am. I mean that the occupy their background and then. And and they want them out in the. You know now what day what needs to be done. In our in terms of our education system and what do you hear from employers. That would help. The you know getting people into these factory jobs or is it something. Transitioning our high schools it is it have to do with our Community Colleges would needs to be done. Educationally. To help facilitate these jobs. It would be good if and this shape and vocational training rebel attracted and and the office of by high school and community college is. And it something that is Adam that is quite expected to get it. In Gemini and that he and his team yet not so much in America. And we. Went to Ben Gagnon says he would he would just look at. At bat apprenticeship model and is sort of important. Back to to America. Eight and and I think many of the I had to. Go to college and get it close deeply but actually only. Popped up American job. But at college degree and I am in that make smoke and they go into vocational training Bullington apprentice it. Into the package it up but also because and they didn't stop at Korea it's huge debt in a crisis and the and the cooking and and and and that it has got all the ways you go into the case obtaining. Do you think general dynamics is going to be of the hire the workers they need in Connecticut we will is there impression I mean they need to hire 20000 workers. Yet it it it looked on the kicking AM. I. Admit it you know because I think them. How many people well and I've had little lacking. Patent you know ones well I'd get these. At at and let me let page. I should imagine that. You know that that people look up noncombat but it something that doesn't happen overnight. If it is product the and and I think of factory. And the industries and I think trying to meet solid evidence to young people advocate that we big initiative that national actually days with that is getting to lie about. Mean I get buried eventually thank you very much for your time we appreciate. And you know get a great day. Then Julian Bond burrito from the economist talking to us about American factories but anyway if you have a kid. Who is out of work. Or if you know anybody who's out of work take a look at those general dynamic jobs in Groton Connecticut the area. Is not very populated there's. A lot of housing that's inexpensive you can buy a nice home in that area for less than 200000 dollars by Condo for less than a 100000 dollars. In those jobs pay good wage they do you do union jobs the tough part about is gonna have a tough time attracting Buchanan. Well it's a nice place to live I mean it's it's don't hero it's beautiful but it's not. You know we're not in Austin it's not New York it's not San Francisco and yes pass a drug test. Here yet to pass a drug test in criminal background that's a big problem they're having. Hey how many interest rate hikes are we getting next year we'll let you know when we return from the financial exchange ready and. You've got Barry Armstrong. Financial exchange shall look I mean Julie in new radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank in May go down in value leader bank a step ahead. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Securities are for two securities America incorporated member finreg SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from pro ready to. And in order to make sure that your process goes as smoothly as possible he need to deal with an expert Todd let's giddy up partner with the law firm of Cushing in Dolan and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month and has written a brand new guide called designing the perfect income only irrevocable trust. In it you'll learn about strategies to undertake while preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guy that's legal exchange showed does come. Legal exchange show dot com. 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And then of course there's reports in notification that all great stuff but going back to your question a Condo association's a lot of Condo associations have been using human as well because the car oh payments that kind of the shirt do every month at the scene so they've been signing up and there's a version of the rent for condos. I'll be darned well sounds like a something that you need to learn more about folks visit. Zebra dot net to learn more that's a website address or call them at 8776917900. Toll free 8776917900. Why collect your rent or your Condo fees with paper checks it with the modern age go to easy rent dot net or call them toll free 8776917900. Markets are. But questions remain about whether or correction is coming. We've got you covered every day with what's not and what's not from Mike Armstrong mornings at 1030 only on the financial exchange radio network. So everybody wants to know if interest rates are going up. Next year and frequent guest on our shows felony Eric rose Ingraham who's been happens to be the Boston fed president and he is suggesting Michael that we could get three to four rate hikes between now and the end of next year. I wouldn't find that terribly surprising I think that's been pretty well forecast about it. And I think I think that scene at bats in line with what I am personally. I've been. I hope you're right and may be good for bank stocks and a lot of banks Bank of America thirty bucks a share eager for bank stocks beat. Tougher to answer tough for some volatile. Yup we have fuel a lot of fixed income the year investments it doesn't necessarily mean that the ten years could not necessarily a tenure straighten it to thirty. In would have we had four height so far there ended tenure has and then holes you know still training to 3230 for the eastern Ike's latest mortgage rates. And you know it's gonna move out to where people are feels painter talks on the about their home equity line of credit. And we're used to be you know two and a half 3% rate is now 4% rate right. Credit cards are grown up in terms of interest rates on those car loans if you borrow money for car those rates are an eagle but rose Ingram who. Is actually a really dove ish guy he's not a voting member this year maybe will be next year these very dovish guy. He wanted to keep rates low as matter of fact I aced him a hard time saying you know you're hurting savers keeping rates low. But you know he's he's suggesting three to four cardinal Woolsey a I would say. If you include December today December's baked right be here you're gonna respect and you're gonna get less something catastrophic happens you're gonna get in December right. So who do I get two or three next year. And say to I'd I'd bet if he attacks are formed in Q1 C three. And it hasn't attacked formal yet yeah you never know it's gonna look like. Steele is back in style with car manufacturers now this is good news for a lot of American companies. For years car for me if you if you have an old car in electric car has built the seventies things loaded with steel and whose heavy you know. Then all of a sudden they add the higher fuel standards so now cars are made out of general spit and you know not a bad day for national aluminum and carbon fiber yeah. They they're not made the way they were in the seventies. But now they found a way to make steel lighter than aluminum yeah yeah they have citizens in new. Some new technology allowed him to really make steel considerably lighter which is the only thing that is going to get a pack into these cars that we'll see. Yeah we'll see how much this is adopted the next few years I'll give you an example. The Audi a eight that's too fancy car from you drive to lovely car is it via. How much. I'd say that's probably 75000. I mean that you look it up. It's. In eight years ago. The Audi 88 was made 8%. From Steve. Now it's 40%. Did you ever hear about this is currently last week via Ko be steel scandal out of Japan. Big big news story about him basically falsifying the right is falsifying records steal their big steel supplier wonder if this. Impacts things for this city's new vehicles entries wonder if that's more than just one company to be out there the Audi a eights and looks like the based moral begins at 825. CH 900000. Chair. Plus tax. I would named Eastman an agreement. With the NASCAR. Though that it's a perfect the perfect the. Bad nights I'd rather buy stock in a 100000 dollar car. Hayward or Lott mentioned to you about leader bank now there are a lot of banks you do business they bank you won but how many banks you know where they sell gold cool things right out of the break you by not only gold coin do you buy gold bars. Libyan money. Right out of the leader bank branch. Any branch has them either make a large purchase though late eighties somebody drove up from the tee to buy. Gold coins that a leader bank and they wanted to buy like a lot. He would have enough. So called before you go call leader bank and say hey I'm coming up on Monday and I'd like to buy a ten Lakshmi gold bars would average one by one by AE American Eagles whatever gold calling her gold Bard as you wanna buy. Called the branch and advance. And bring your money and you can buy it right out of the breaks I think it's the only one in the country where he can walk into a bank branch and buy gold. Its leader banks dot com if you wanna learn more about it or if you wanna talk to them about their gold buying program their phone number is 877. 6917900. For those of you who don't live in the Boston area. You can set up an account at leader bank. And then when gold hits a certain price that gold right now trading at thirteen hundred dollars an ounce and maybe you think it's going dead at 1250. You could then BC put a 100000 bucks a million bucks and as a leader bank account when it hits your price you could say okay. Lokhmanian for ten gold bars anyway is that it's a nice feature and it's New England based bank. The only bank in the country that I know we can buy gold coins and gold bars. 8776917900. Is their phone number that's 8776917900. Or you go to leader bank. Dot com. Whatever it takes hospitals are getting creative. In hiring nurses and needed a national shortage it sounds like the bulk of these openings though. Are in rural and under populated. Regions I mean we just talked about yesterday it's having trouble attracting workers to. Specific gears now there's there's a nationwide shortage foreigners as I mean even even find nurses in you know key market areas like Boston New York is still difficulty he had in Spain again paid big. But you know you talk about areas like West Virginia at this specific Gary tuchman this article where they are having a really really tough time finding people to come work there so what they've been done I mean via their time that. You know five digits signing bonuses you're talking about him free housing aid money to their time up free housing to people commute there yeah. To San camera spend the week in his dorm every mile back to Pennsylvania. It reminds me of the oil fields in North Dakota. East to have guys that would deal fly in or drive in from Minnesota and back east. In the aid work for two weeks straight twelve miles they'd worked all our shifts for two weeks straight then they go home for two F and they eat sleep and quonset. Yeah and that's the VA nursing shortages so cute. That that there are in the same from the I think this. We'll just continue to compound the next few years I mean this is one of the issues that we're seeing in a lot of different industries you know one you're not have you don't have enough teachers at the schools to be able to you brought these programs and part of this has to do with wage. And you if you want. There you join more nurses isn't supply and demand that they right now. I think we do it learned that the nurses in the Boston area there working for hospital right Mass. General Brigham Leahy would ever. They're making about a 120000 bucks a year straight time that's with a four went to a plan that's with great health insurance benefits and pension. Which is unbelievable. I'd say they don't get that kind of package now that's after they've been there for five years or they're not starting off at that weight that's still very healthy weight and then if they work overtime. He has not uncommon to see and Ers it's making a couple of 100000 bucks a year. The problem you have is your right it is a wage issue but it's not purely private industry you know this isn't the same thing as Amazon having tough time finding engineers this is. A public private type of industry rate you're working on and obamacare reimbursements to run on Medicare reimbursements all of which are regularly regulated by the federal government therefore it's pretty tough. To raise wages because then you're going to know appeal in some cases human under the at the reimbursements you need to have as well and what happens is the quality of care slips. Right in and people gripe yeah right when your thing about this way. It's let's say you have your your mom's in a hospital. And the nursing care is not up to tar and your mom dies because she's not getting care where you're gonna scream bloody murder right you're gonna gripe about it. And that's what's beginning to happen now. You're starting to hear people complain saying hey you know about my parents are not getting adequate care. Well as they complain more wildly the nurses are gonna get paid in the teachers and he. Eighties it's a tough. Job from an perspective yes it might burn out those tough shifts today and you're seeing some pretty awful stuff that's that's not an easy job. And and the injuries on the job are pretty huge you take a look at the percentage of injuries are physical job and you lifting people in and out of beds yours you know it's not an easy. How do students learn better do they learn better from an actual physical book or did they learn better by reading off of the computer monitor. The answer in the results of that study might surprise you will be talking about that next from the financial exchange rate view now. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten days is that financial exchange radio network. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age of 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both are gays and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with service and attention to which they have become accustomed if you're interested in talking with us please call me at 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot com security's effort to securities America incorporated members in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Many of you who've listened to talk amongst you for years on the legal exchange radio program are probably at or near retirement age and if you're one of his core listeners you know always an expert in elder law in the state planning if you been thinking about starting the estate planning process or are just under way you want your trust documents to be prepared properly so that your assets are protected from the nursing home. It takes five years to secure that protection and you need to make sure that you aren't wasting your time in your money and legal documents that don't work. This month Todd has written a brand new guide called designing the perfect income only irrevocable trust they contained the specific language that must be included in your trust in order to protect your assets from probate this guide is available exclusively. By visiting our website legal exchange showed dot com that's right the only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles stabbed and download your guide that's legal exchange showed dot com. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out liter bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so log on to leader bank dot com and sign up today this. May change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Security suffered two securities America and members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. To vote on our daily poll question had financial exchange showed John come out while you're there fire of the media player and watch the show while you work. This case the financial exchange radio network. We know that may be have jobs to keep you from it keep you busy all the laws we've made easier for you to catch up with financial exchange place most convenient for you just download the I heart radio app on your phone or tablet search for the financial exchanging you'll have access to all of our content including individual segments and full of ships. Ari you know. Tucker how do you consume. Most of your behavior you read a lot of sports and I get a lot of stuff to read. On the Internet nobody on screen to screen or on a book to screen now B two a day I tend to do probably. What an outside pull up on my I patter format my laptop per desktop com it's all through screen action. But we're doing ourselves a disservice was up. Because you actually retain and I didn't fully understand this like you retain more. Reading from an old fashioned. Book book. The new do from a screen yeah I don't I I I've. Felt this way for instance since high school and college that I always have retained a lot more information printing items out and looking at them on page underlining things. And just doing it that way for some reason for my brain has always been far more success I think it's you know when I'm trying to recall something if I'm trying to think of what I read on screen I just can't bring that up 9% wears I had a printed piece of paper and I'm recalling about and what did that sense and stay about a billion tax reformers up on those lines I can picture it in my head. For whatever reason a lot better read in the paper like big part of the issue news. When it's on a computer screen. Often times there's a lot of distractions on the tape got your email popping up in a message from your boss coming in on the instant messaging system. In ten million last practice. In and you don't. I know there's a way to underline that you don't. You know the Egypt tend not to that. The the they've done a study end is just you know most of us now. Read. Unlike but students judge there comprehension. As better on line and imports of Aston high schools due date city Ono I comprehended formation much better. Reading screen but when they actually test them. Even they put that that. The proof on it is in. The the test much better yet in a book I remember you know I think some California school district tried. Putting ipads and every classroom a few years ago and they just they got rid of which were work. They were doing anything like schools have to stamp this out pretty schools I I've gone as far today you know when I'm working and trying to get things done trying close my email and just checked it once and not close at an open back up an hour later nature check only knows that once but if I'm trying to you know. Do some term analysis and I've got he knows popping up in the background I just become far less efficient distracts just way to distract you or something it shouldn't surprise you. During a grocery. Price check Costco. Was 58%. Cheaper than whole foods even post. The Amazon acquisition yeah I guess it shouldn't surprise 58% just a pity big numbers it is it's the rear of the voter it's a scene. Products again if it's. Apples to apples as or is it well mayonnaise verses you know what Costco or would whole foods is selling or. Vegetables for instance yeah you get vegetables cheaper but he you have to buy a fifty pound bag of potatoes on I'm sure they're looking at the per capita or per volume price of these items but yet I've they're different they're different items certainly mean. First off the big difference is going to be organics and you know I wish I would imagine it costs has a really good supply worries that. Coming here I would imagine that there are you busy as a whole foods since the acquisition I have I didn't see much noticeable difference of and the fact that you know they are calling the price changes that they've made. And I'd I'd concede much sales are up though really checked their sales results are up 7% for I mean I certainly don't British version of as ordinary roster at the there's a tournament I think something like 70%. Of prime members shop and costs that hold hope of even before. So leave your primary network in prime there's a tremendous man or so. I mean I think they could really drive up. If they found a way to do some sort rewards program through that you know Jake your. Whole foods shopping they won't give you 1% cash back on Amazon prime deficits. Just thought that that's a matter of time yeah I'd imagine it is but those those types of programs tend to really do appalling. You know you injuries applicants Amazon has that 5% credit card. Maryland I was telling you about marketing and not know. By remember about having done it yet got it right the guy you'd get 5%. It's it's actually you don't get a 5% cash back it's a 5% credit towards future purchases. But if they did that with their whole foods stores and easier now that credit card can only be used on and is and I checked to see if I could use it whole foods and get the sentence. I bet you'll have that by January 18 5% back a note just as some sort of over awards benefit programs if you shop and a whole foods are. Your prime memory gets some sort of a rewards. Applied towards whole foods I think they should hire stalker has been intimidated ideas that their way out of we we can help them. The Catalan leader has failed to clarify his independence on as Lou in a letter to Spain this is just like game chicken and AM yeah that seems to be and soon. Basically over the weekend he came out with a statement it said hey we all need to sit and talk and say oh Spain has basically come. Back and said you wanna go to jail that is not good at. Yes or no we need to know by Thursday do you wanna go to jail or your under and then they also. I just saw this this morning this after. When was this a very recently this morning. And they filed something in court shoe in prison the he's the police chief. Bird for facilitating the actions and not only the police chief that all its. If it's very curious to what does the the other thing that happened is they had the the referendum which. With some rigged because a lot of people that participated rent and now people are up in arms I mean imagine if you're a big bank headquartered in Catalonia if you eat you have to. And I'd be part of the European Union yeah right inning. The disks with the or what they've done. What Catalonia has done is very much like what Colin Capp projected in here in the NFL. It in and with the players at the Douglas slitting your own rest ye has Catalonia was kind of is it Barcelona is in Catalonia and it's been full of Spain the I I think this is probably much ado about nothing this is Catalonia is and still will be detours and senator speak act think and see don't think the supper I don't think separate today like you said the election was illegitimate namely anyone on the knows I didn't choke to vote because it wasn't a sanctioned sanctioned vote so. I think this is likely much ado about nothing but they're certainly I mean there's always. Unrest in Spain take a look at it if you're history. Take a look at what happened. To come back after they voted to separate and they had this huge issue back in the seventies. And whose violent and he would use kidnappings and all the murders involved. Take a look at what happened to the economy of the back in specifically. To Montreal Montreal was the jewel of Canada. It was wrecked French speaking cities considered to be. You know the nicest city. In all of Canada. What happened after that vote. Every all the big companies left Montreal Montreal has been in depression ever since. And never recovered and is now second fiddle to Vancouver and Toronto. As top cities in the country. Thanks for tuning in to the financial exchange today. Gold is trading at thirteen 07 and balance. And the market's up the Dow is up thirty points it's Michael Woodbury from the financial exchange radio network.
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