WRKO>Audio & Video on Demand>>Full Show 9-12-17

Full Show 9-12-17

Sep 12, 2017|

Full Show 9-12-17 by The Financial Exchange

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

This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. 73%. Of American adults are victims of a massive data breach at Equifax. Thieves are now accessing our data. And they have the tools needed to create false identity it is safe to assume folks that you were data was packed in your data. Was stolen. Hi everybody it's Berrian truck with you here. On a Tuesday and we're gonna finally have some time to delve into this topic that is literally. Going to impact. Tens of millions of American families. Yeah this is again make the the amount of data that was exposed here and the severity of the data. Is. Pretty mind blown to be completely honest 143 million people's personal information. Was it was taken in this tack and it's everything from names Social Security numbers credit card numbers personal documents a whole laundry list. Of information. Including old information. About where you used to live. Where what more you had before. When did you pay that off we ever delinquent on I mean the the amount of information that these three credit agencies have s.'s mind. It is and and I hope that what this does more than anything else is. Give oh hole ousted take some time for greater scrutiny of these companies because. In my opinion these companies the three major credit bureaus Equifax Experian and Trans Union. Are probably one step of he. Payday lenders in terms of there. Overall. Moral. Obligation they have to decide what's ironic because so many decisions would you get a job or not are you can be did not sign is on these agencies right you can be denied employment. And it may be you may be denied employment because Equifax get something wrong you're still out of a job you don't have your job or you may have to pay more. Fear car insurance constrains unionizing correct information about an I don't know about you but have you ever had to battle any of these agencies about it and correct reporting or anything like yes I have brought situations SI have. How long's it take to resolve it was actually I. I can't help. It was an experienced individual yeah assisted me yup it was actually very quick I was applying the way I found out chuck was I was applying for home equity line of credit yup and there is incorrect information on there. And the banker I was using at the time assisted me in getting that repealed they know how to do it by the way. Lenders are good sources for assistance when you've got incorrect information on your credit report. In I've seen some situations where it's taken people two or three years to get things fixed on their credit reports after. Someone had stole their identity and so. It can take a significant amount of time to repair the damage afterwards. And and the problem is the type of information that was stolen here when you talk about names Social Security numbers credit card numbers. You you knock it change your name typically you're not gonna change Social Security number those things are there in perpetuity. It's not something they didn't steal an email address in which you can change say okay I'm no longer going to be. Ball ball ball going to be Bobble bought two that is very inconvenient to by the way when your email address it's it is but it's nowhere near as bad as your Social Security now true you know you can you can change an email address might be a pain to get this and that one of those annoying emails all your friends hey by the way of changing my email. You can't do that with so secure that you just not doing. You yesterday he told us that you had frozen your credit yes. And I asked that question on my FaceBook page this morning you know as a result of the Equifax breach. Are you planning to freeze your credit this actually that is our poll question today as well. Go to our website financial exchange showed dot com to participate in the poll are you going to freeze your credit. I got a number of questions coming back to me saying well should I be here is this something is this breach serious enough where I should. Freeze my credit and and they've people invariably you're asking me on FaceBook. You know under what circumstances should freeze my credit I think. It is much easier to identify the situations in which you should not. Preacher credits than it is to identify the situation basically folks. My blanket recommendation. If you put a gun to my head is free your credit. You just across the board arbitrarily. Go out and freeze your critic contact all three of the credit reporting agencies include trains union Experian. And Equifax go to all three of them. And freeze your credit why. Well darn. You know what what are your choices you know hold your data was breached you know that hackers now might be hackers in China we don't even know who breached it. All we know is that the data. 473%. Of American adults was breached in stolen. And you have to assume if you have a job checking account at credit card car loan. Pretty good chance like probably ninetieth percentile that you were breached. Yet it pretty much if you have any type of credit out there your information is likely. Affected in this region so. The way that you do it's very simply go to each of their major web sites that Trans Union Experian and Equifax and if you go get to poke around a little bit. But you go you can force area of the website that says security for its object and you go in there and it will allow you to put a security freeze. On your credit what does that mean okay what does a security freeze means it means that no one will be able to pull your credit report and order opened up any new lines of credit. While that freeze in place that includes you. So if you are planning if you have something if you're buying a house right now it like my son said he used to do and home equity line credits and what I don't know if if you're buying a car right now if you have. Even in some case if you apply for a job and any direct your credit for that job if you're in those situation old so if you're buying it if you're applied for a job for Akron where you can't if they don't need you eat if they don't run a credit report. Okay everybody does don't they don't know. Don't know what if you're buying car insurance is a checked into homeowners insurer so would generally what you have if you've already applied for and if you already have them in existence that typically not pulling a new report OK but if you're buying if he just came on and if you're switching companies for some of those insurance is you will have to to temporarily unfreeze your credit and so. It does add a little bit of leg work to what you have to do. But it is far easier and far cheaper than to be proactive about dealing with this as opposed I mean. I've seen stores I've I've seen people where they've had their identity stolen then and they spend years trying to clean up because the the agencies are not. Helpful little detects questions are already coming in and they're saying wood about these credit monitoring systems are fraud alert systems. The problem that I've seen with these turkeys all they tell you is that you've been hacked it right tell you don't stop it from occurring in might it am I reading that wrong yeah a. Fraud alert doesn't necessarily do anything to stop it will notify you and say hey. You know this this could be something that's fraudulent but it doesn't necessarily stop in all situations especially if someone is gather enough information and so they can kind of bypass that pretend that there you. In terms of how long the freeze lasts okay in the credit freeze is in perpetuity. Fraud alerts only last for ninety days and then have to be renewed so you have to remember to renew it there credit monitoring is typically a service that you buy. They can be a ten to thirty dollars a month that doesn't do a whole lot actually prevent something from happening it's more seem better off with a freeze. I've got to get angry I talked to 2 clients this morning in their retired. A exit for you guys freezes the easiest way to go. Texts from 978 says it's kinda silly to freeze your credit to go Aqua at Equifax to freeze it. Do you think that's gonna do anything to make you safer yes it does because if freezes your credit I don't think you can put this any more clearly. When you freeze your credit you'll allow for no additional credit to be open unless you give an opinion that you that you have you know on your own time really. You're trying to prevent is some hacker accessed ambushing a new address in your name in Kansas City. In opening up credit cards and getting home mortgages and car loans in your name. Exactly so I have personally. Frozen my credit at this point so any time someone tries to go in open up a new line of credit it's gonna say no we can't pull that you're not going to be able to. It may seem. A little bit drastic. But I've got to tell you in the short term and I say the short term I mean mean for the next twelve to 24 months it may be the way to go folks. The credit reporting agencies include Equifax Experian and Trans Union I'm going to give you their phone numbers. If you're not comfortable going on the web sites and I can understand why you might not be comfortable you can called and you can freeze your credit over the phone. The phone number for Equifax. Is 80349. Main. 9960. The phone number for experience. And you have to call three dozen be any good to just call one you have to call all three of these credit agencies the phone number for Experian. Is 888397. 3742. And phone number four trains union which is the third one that. Did you send me on that but another thing that I would recommend to people yeah what's your credit card statements over the next couple months away itself has. It wasn't just personal information that was leaked here credit card numbers were leaked in this reaches well so they can be false charges could be false charges on existing lines of credit as well so watch your credit card numbers watch you know her home equity line numbers I watched all of those accounts over the next few months. Just because. It Weber stole this information could have access to those accounts as well tonight. Finally the phone number for Trans Union which is the thirty concede that you need to call. Is 8889098872. And remember you can go online to all three of these companies. You go to there web sites Equifax Experian and Trans Union and Tucker what you remind me later in the show to give those phone numbers out again for the benefit of people that didn't name you know they're driving down the highway they could write them down. And another question once again from 97 Nate saying I'm knocking a freeze my credit they'll do all their damage after this ninety day freeze a credit freezes not ninety days. The credit freeze exist in perpetuity this is not the same is a fraud alert which is ninety days. A credit freeze you can keep out there forever if you want to cost to freezing your count track there is a cost in Massachusetts I'm not sure of some the other New England states and it's five dollars per agencies of all three agencies who will be fifteen dollars in order to freeze. They can waive those if you go through on file a police report showing that your information was stolen she can get it for free if you go through that means if you do wanna file a police report I did not simply because I wanted to get it done as quickly as possible. Cost to unfreeze does it what's gonna happen to write is you're gonna have now hundreds of people thousands of people freezing their credit. And they're gonna come back and say it will six months from now I'm applying for new job and they want take a look at my credit report Catalan for. Yes so in order to unfreeze. Your credit you're gonna have to go back to. The agencies that you frozen OK and they do charge that feeds again five dollars to unfreeze then on the backside at that point I would have said hey look. Have a police report filed by then so that you don't have to pay the fee to unfreeze. But it's it's something where if you don't go through the police report route and showed then you are you more information was stolen it will be about five dollars in order to unfreeze the account as well. Really take a break from this topic we will come back to it and I will give you those phone numbers again I promise. Two scientists are locked in a race to developing groundbreaking vaccine for heroin addiction. But it might not be a magic bullet that is the topic of our next interview. We'll be with Harrison Jacobs from the business insider we're talking about heroin vaccines. From the financial exchange radian. Work 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 are brakes here we Berrian jumped on the financial exchange radio network. If you worked hard and had success in your professional life protecting your wealth and your assets is essential to your ability to enjoy your later years advanced estate planning as many benefits and if you're like me you should want some sound advice on the best way to set up your state Titus is very Armstrong and if you're in need of a state planning council or perhaps you just want to take a second look at your existing plan you should call -- and Dolan at 8668485699. And -- for their brand new guide called back to the basics -- lets -- host of the legal exchange radio program will educate you on the basics of creating your state plan including how to avoid probate and estate tax reduction call 8668485699. To get your free guide today the law firm of Cushing and -- has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to 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 leader bank is offering in east 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. 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Amber FDIC a minimum balance fees may reduce earnings rates subject to change without notice and may change after an account is opened area are strong here and I'm joined by Jake tool. Who's a vice president at leader bank and we're talking about the housing market. The housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. Would. What is your message to the young couple hours just somebody's out there looking to purchase their first time home. Yes so you know for first time home buyers what we are telling men are a couple things one be patient. Yes you know we we see a lot of first time homebuyers who are making 51015. Offers. For fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Often times they're they're paying more than other half do. Paying more than the asking price and a now it is quite common right now in and in some cases are actually having to to research other towns rooted in. Considered first because. You know it's very pat can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware of all the mortgage products that are out there that are relevant to that. Tell us about this leaders thirty yes who we are really excited about this product we just launched it is called leaders thirty. And essentially what it is is a fixed rate loan from where if you sign up to pay your mortgage automatically electronically that everybody does for the first year you get to lower your interest repayment by 1%. That's very helpful offer because when it does is gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of a fixed rate mortgage. When I bot. A hole. And when I've refinance my properties have always used leader bank near terrific bank you can call them to hold free at 8776917900. Or visit them online leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. 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. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. We have respected doctors who are working on now heroin vaccine and we're joined by Harrison Jacobs from business insider to talk about that research. Paris and welcome to the show. I. Am. How well how many people are dying from drug overdoses. At how many gonna die this year. In and why is the number gone up so much in the last twelve years. Yeah well I mean we don't know what the numbers competed here collapsed on numbers that we have over one unit. Well more than 50000. If you. But 30000 of those are directly from populated and yet and ever right and then another mid ninety's you know that. Comes back to you. You know prescribing practice but doctors are beatable companies just. They're marketing these new operated and they were not addictive and they really work and then sort of an explosion apparently. Attic along with you know a lot of he is an ex just capitalize on urban youth population at. So talk to us about these vaccines are two distinct approaches. Two words developing a vaccine that would prevent the heroin user from getting high. Yet still I mean. Pat or the back into the development bird you know little over thirty years are 11 and but if they collapsed and yours the other ones work for other direction but they all kind of where I work the wind is the eight. You know accurate the one that they are using is the tetanus vaccine and taken up at a partner injecting heroin molecule and it though. When your body. At the objective of the vaccine it looks an Arab doesn't think it's the disease and it makes about it destroy them. I try and Jack Aaron would be awful. But you know is it specific Aaron one and and the other one. It works by attacking people go to Herbert and so is it a little bit more expensive. So Harrison if it still works against heroin isn't the addict just gonna switch to. Some other cocaine or alcohol or some other type of drug in order to get higher does it work against all drugs. No it is it's specific view Carolina I mean nuclear get on it. Uses the Arctic often do you know cocaine or spoke metres and none of them are really where the addiction that music is invoked your right they want oak view it as a want their dark and but he urged I think. The greater thing is that yeah yeah I eaters not news sort of you know magical solution yet is more to be like eight. I'm under treatment in other addict want to clean up and get the vaccine. And that way it is a pop up and all the art treatment. Relapse is a pretty much. A part of treatment you know they're not gonna have over. What are they is active. Let's talk to us about rehab the you know in the treatment centers because. They they're not terribly effective are they in terms of the they're written the laps three show. From from what I can gather is an excess of 70%. Yeah I mean the issue here is that you know well you're depiction is extremely. Attic is spread the and I'm a failure year media arts department. Sleet event. So we started the happen is people are moving away from the traditional well a program. Not that we kind of associated with treatment. Stubbornly worked very well good. And a moving towards a we all of medication that the treatment which is something like the vaccine also more common medications are like the box that are up now or ever. And what you do it served in Munich what topic I was in the brain but the opposite sides people. Where he Gloria and they will be integrated as I'm in out of work on those underlying issues but other treatments a lot of treatment without that constant pressure that they're gonna. What is this vivid trawl that you wrote about in the article is that effective. Yet so. Paula is you. Out of the others it's the active ingredient not Kirk to around and. The AD and what that does is completely blocked the ability of the you know at a similar to that you know way. But it all went into action you know you'd be lot of treatment moving toward these are longer term and treatment of people up and make that. Good decision at the SP. Issue within the troika is. Doctors don't like it and agents that either because. It doesn't alleviate that creating Earl. So. He and appropriately. And you know it's weird you know it summit dug up when the. You patrol runs out not you know you're very accurate in order their bodies are spent more sense that you would be you know normal. Well so it sounds like he could actually be contributing to the overdose death. And sometimes. I mean what a neat its treatment you know product that is Katrina and we just need more access but he is that one of the biggest thing that you'll be. Circuit and out of our presence from poker match and they had Mac conditions are about. Getting much more access view they return all of these the box not. And it dropped me it for the right patient you know they are highly motivated to take clean then that trauma accurate thing but you know what we in now a lot of court systems and criminal justice system that are sort of mandating that goes through the system you could it draw. And it's not only the right tree and a. Very good period Harrison thank you very much for your research and and thank you for coming on the show and sharing this with this we appreciate it no problem. I thought it Harrison Jacobs. Business insider. Talking about a problem that. Is continuing to get worst the death rate is completely signaling continuing to rise if it's going up now when we come back we'll have Wall Street watch. From the financial exchange traded them. Making your Smartphone even smarter. Dell logo mobile lab by surging financial exchange shelf in iTunes or those who who played stores. This is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks ticked Haslett a brand today with zero and leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit www. C rent dot net to learn more we see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. This is very Armstrong from the financial exchange did you know that once you turn seventy -- half you are required to start taking withdrawals from your I air raid the problem is that many retirees don't know how much to take out of their -- -- or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you own rental property you're going to want to hear about this exclusive program offered by leader bank it's called -- -- and it is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the male co leader bank right now if you're interested in C ranked the number is 8776917900. That's 8776917900. This program will automatically -- your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that tent and sign up for zero -- upon the execution of their release and why wouldn't you wanna do that once it's set up you never have to make another change during the lease period he -- does a free service if you have an account with -- bank and if not it'll simply cost -- a small monthly -- cult leader bank right now and 8776917900. That's 8776917900. Or go to -- -- dot com for more information. Member FDIC it's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans that 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 pastor closing calling 8776917. B 900 that's 8776917900. Or visit leader bank dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval. Time now for street watch a look at the market's performance so far today victim Marian jog right here on the financial exchange radio network. It's time for Wall Street watch Michael Armstrong is with us and talk about a couple big tech companies today let's start off first with apple like what's going on with them. Well we've got the big gap released this query anticipated release of the new iPhone had to have 1 PM this afternoon. Barbara restored around about these photos it's usually a big advance their rumored to be the height urgent Herbert started a thousand dollars and could be higher based on what memories so lacked. And you know a lot of different terms about maybe facial recognition wireless charging yen edged a lot of people anticipating what's to come out with this on whether they're actually able. All these new different technologies together. The stock had been up over the 8% of the last three months it is down a little bit this morning as related to patient for the release. What's the latest with Amazon on the the whole foods purchased would have the early returns showed for them. Tersely I haven't read that if financials of the they did put out a statement that they saw. A traffic increase of 25%. That their whole foods stores during the first two days period following the price cut. And he says people were interest did but unless that's maintained I'm not certain that that's really going to lead to any. You know it positive results for the company the whole thing people were just curious to see what it Amazon's initial impact was on that. And detained you know raster cubic retreat business. Kroger was just upgrade to a I had total research that stock has seen a nearly 40% drop your debates so some people are taking a look at that stock and saying. Maybe it's a little bit under valued at Kroger two personal KR is about 2% this morning. Good thank you for the time Mike. That is Mike Armstrong with Wall Street walk shall speaking of apple they are the topic of our trivia today that he. What was the price of one share of apple when the company held its initial public offering in 1980. Then if you bought this rich so that's not is is that adjusted for sports. That the that the you would be rich if you about it and you know he'd be maybe even richer if you bought it again in the 1990s. Anyway that's our trivia question first listener with her cancer with a 25 dollar gas card what was the price of one share of Apple Stock. When the company will held its initial public offering in 1981. Listener with the correct answer. Wins the 25 dollar gas card to go back to the the question of credit monitoring. And credit freezing. In all I kitten but my son is not going to freezes credit because he's applying for home equity line of credit. You may not want to freeze your credit could you gonna buy new car next week your neighbor. Mano want to freeze their credit because they're looking for job here's what I can tell you. Chuck has already frozen his credit and that's saying you should do that but chuck went to the links and it cost him five dollars and you had to pay with a credit card since there. I'd pay electric car cost me dual 315 bucks okay. And I did it because I want to be proactive because I've I feel it is that big of faith and we're glad to hear that you know looking for a job so that's that's not the the positive side. I easygoing it I am going to her I'm going to freeze my credit this afternoon I've done the research on it now I've decided I'm going to freeze my credit. Our poll question about 46% of you are saying you're going to freeze your credit 53% are saying no. I understand there's 88 reasons he may not want to freeze your credit. What I would suggest though is many of your texting and say well I've got to credit monitoring system. Not the same thing folks. Credit monitoring is just gonna tell you that Aaliyah by the wait thirty days ago someone opened an account. After that would open an account in the got a driver's license in your name and and they are now you but they haven't been living in Kansas City. Tucker I didn't know that you moved the date and Noah. So I just. Duel as you please it is not my place to tell you what to do but two guys that study this stuff for a living. Right where freezing our credit that's how concerned about it we I just leave it at that. Restoring. Power to Florida will take weeks not days in some areas. At six and a half million. Floridians. That lost electricity. Coming back by the by the hour. It is you have overall the total numbers across the southeast US fifteen million people lost power as the storm. And so the vast majority of them are going to get their power back within two or three days. But you are going to have people. In remote locations and areas that are not highly populated that it may take significantly longer may be into the middle of next week if not longer. For the back end of this job backlog to get dealt with your Tony they have. Trucks all the way from Canada down helping out with the repairs at this point just trying to get enough crews down there to get everything back. To where it should be I give these utility companies is primarily to Duke Energy in Florida power in light I give them credit chuck because they knew this was coming. They knew it was gonna be bad and they have the personnel they've got the boots on the ground right and they are going to you. We're gonna talk about this and it's going to be remarkable. News this storm is really hitting on Sunday. I want everybody take a look next Monday. At how few people are without electricity what they do is when they come back into town. Personally do to get hospitals back up a signal all the essential services. The get the water and sewage supplies they the those areas up and get the growth for stores in the drugstores up and running up the get the gas stations up and running. The individual homeowner in the apartments over the last ones but at least you'll have your. Critical infrastructure exactly right the police department would have electricity. But they are bringing people in from literally. All over North America. Debris and and they had boots on the ground you may look at your neighborhood and I know there's many people listening to the show now that. Go to Florida for the winter and you're saying yourself boy how bad things going to be. All I can tell you lose in the past. That turnaround. For vacation destinations is remarkably quick because Florida. Is. Addicted. To tourists pay big Ford cannot exist. Nobody terrorism they needed especially talk about places that the Florida Keys where I think it's like forty to 50% their economies tourism based actually that the tees might be different story picky I I was reading some stuff that he was saying that up to 25% of the houses on Key West were just. My my mom is actually going down to Naples on the twentieth centuries planning editor Q lesson. No longer is the case August she's still planning to go to Naples yes all of September. Twenty now he did gesture that we got family down there and yeah I mean that the power's out but it's not nothing major happens like couple fences and one out they didn't get flooded. No no no floods. But that's the the and invited twentieth. Tucker this will be a good test for us. I would be shocked if she did if they didn't have their electricity back variety twenty yeah it seems. Like the end of the week it seems like they're gonna get power back. They wanna tell you about leader banks on line rent collection tool it's a it's a product for landlords cannot landlord to worry about it. It allows landlords to collect tenant rent electronically. You'd like to learn about it go to Z rent dot net. You don't have to collect physical checks anymore most landlords that I know use a local neighborhood bank to do their business and now leader bank. Is making this unique. Program available to any bank so they can offer it to use the customer if you're a landlord in your stood in having your local bank. Acquires the red technology. Tell them tell your banker to call zero and the team at 8776917900. That's 8776917900. Or they can visit. The rent on their web site C writ dot net dot dot com C writ dot net stopped chasing down late payments and running to the bank to make your deposits give. Leader bank. To get your bank add zero and to its list of offerings. The all they have to uses zero dot net or call leader bank at 8776917. B 900. Car centric Houston we have reported that we thought now might be to 300000 cars and we sit on my 500000 cars. There were destroyed as her as a result of Turkey and party hitting Houston. Weird how getting estimates John. It may be Justin Houston. One million cars destroyed yet and in this. Obviously via the insurance companies right now are working with you know local. Companies trying to just you know assess all the damage just try to track them all down and they're still hauling all these cars away like there're enough tow trucks to get these things out of where they're stuck in some case let's guy that's working really hard that he might be of the mood like ten to fifteen. Vehicles a day down and and and that's a guy who's got an operating tow truck. You know they've got guys working 1416 hours a day try to told these trucks away on these cars away they do and you know like. You know try to find him make. Would it with sealed sailor make a silk purse out of the south here I am no way to retire and you want. Lemon at eliminate their lemonade out of lemons dozen or so percent of the south here anyway. Ford stock is up in General Motors is. Police say now one out of every five vehicles sold in texas' forward. F 150 it's it's something or is it something in that ballpark yeah it's it's as this crazy see a lot of homeowners are covered it you look at homeowners they they don't have insurance for their flooded insurance there at their flooded homes. But it is a car insurance but most everybody is cartridge and most of these vehicles if it is a me million vehicles. They're gonna be pepper. Toys they have comprehensive Coppertone you know if if they don't then they're not going to be but most people generally have comprehensive coverage on their vehicle. And so I mean you've got in some cases. You you've got cars just piled up in places where they ended up washing over to see you got cars on top of other ones that they're trying to get you know all these cars and just trying to get a month flat beds so they can get rid of them so they get interchange of open. Be a lot of parts of you have to magic is even though they're totaling a lot of these cars. News the whole thing it departs that'll get used awaiting comments of Ralph Merrill. Earth that the windows things like that they'll end up being able to used in the seats you'll be able to because there'll floated in the pollsters rune but you'll be able to use parts from these cars. And it'll be interesting to see what that does to used parts prices over the next six months what are. As a consumer prevent themselves from buying what he's flooded cars like it's a company writes off all state writes off a car. Heidi mill right at your back in the in six months from now you're buying a new Ford F 150 in DC used on the lot. The darn thing I don't know up from Texas was one. But that carp from the artifacts that. That's that's all I can do you have any idea talked you know I think like a car fax would be the best players. Yeah I would imagine that past is still there somehow like if there's changed notre certified or reassignment homework assignment. Certified pre launched yet attackers going on assignment to Asia last they're. I yup so it'll be not be doing homework assignment and know you're going on your putting you at 530 flight later today. He's working on the date that he leaves and is now enemies to Italy in Italy now that legacy that. Are coming up we will have Tim I don't know how Brian Campbell excuse me. From Zacks we have to stocks that were talked about and we'll have the answer torture me question all that from the financial exchange rate unit. 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 in check for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio that. Work planning for retirement can be complicated process but I'd like to help make it easier this is very Armstrong from the Armstrong advisory group and if you've been saving money through and higher rate you should know that once you turn seven and a half who are required to start drawing from that account but how much should you take and where should you take affront if you don't take the required minimum you'll be subjected to a huge IRS penalty call my office at 803934001. Get my brand new free guide and learn all about RA MD's call 803934. Zeros or one to get this free guide and if you'd like we can also set up a free no obligation consultation to review your investment strategy call 803934001. For our new guide about required minimum distributions or you can download it from our website financial exchange show dot com. Securities are for two 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. 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 leader 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's no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice and don't delay log on 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. And taught I wanted to talk to you about the east trusts. Do you in fact need to create trust if you already have a will get that question alike you know like I buried underneath trust I've got a will. You know sometimes talking about the basics is most importantly it in your right and people are so confused they'll come and say. I have a will lies they plan has done it and it's really folks and and it in the reason is once you ask yourself that question so if you just have a whale just ask yourself this do you wanna avoid probate. Well if the answer is yes will not doing you know atlas you don't own a house you own nothing if you're poor you. Will probably some places does it could designate had no assets make sure you put like designated beneficiaries on your bank accounts your brokerage accounts. And you don't and trusts are for people that have passed straight like real properties. Got money in brokerage account. Piece of rules that immediate two pieces. I think that's fair I think that the safe thing to do is if you if you wanna know will as the Walt has it won't avoid probate it will reduce estate tax rewrite if you don't have. Anything you know. The only need a million in mass to have an estate tax though we won't reduce your state tax there won't avoid pro but it won't protect your assets from the cost of long term care. That's a concern of yours so those are three Waltz that will will do so I think the answer to the question is yes I think you need more. Then it will most of the time time to get back to the basics folks call Cushing handle and get their guide about basics of the state planning. The poll number is 8668485699. And most of you prefer to. Download the guide immediately to go to their website legal exchange showed dot com it's legal exchange showed dot com to download the guide. For the month of September. It is back to the basics September time to get back to the basics legal exchange showed a. The financial exchanges line on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. Is it financial exchange radio network. In December of 1980 apple conducted this. Initial public offering of four point six million shares of their stock at 22. Dollars. Per share. Andrew from Maricopa Arizona listening online is the winner here Anders take gnome a 25 dollar gas card to mobile as his prized. It trivia today is brought you by the leader bank cult leader bank today 8776917900. Asked about the new we savings account providing free online banking. With a one point 15% annual percentage yield that's 8776917900. Leader bank member FDIC no minimum balance. These may reduce earnings and re subject to change without notice and made changed after an account is opened. Brian Hamilton from Zacks is on the line with us here to talk about a couple stocks and Brian thanks for coming on. I. Why not start first with Waste Management probably one of the most boring companies out there. You can make an argument that born isn't necessarily bad when it comes to investments. No not at all actually Waste Management is actually in great position to benefit from the recent hurricanes because that typically. They had about like it's allies speak during major storm because they have an increase in labor hours and their collections services and take a hit because they're not are running. But. The clintons service are all back on line as a Monday in Texas and maybe it can impact on line that day and the rest of the state should be up online by tomorrow with the exception of the Florida east and therefore the services aren't going to be as badly. An erupted as expected. And the new volume combined with the post storm reconstruction projects which should outweigh. Increased labor hours in the like distribution. Destruction in the services also was meant as the largest plant those in the Houston market. And all around Florida so it should be able to easily handle all the new volley. A company like this in the long run are you bullish on them is dwellers this merely taking advantage of the short term situation with regards to Wada hurricanes. I'm bullish sentiment a long term at least over the next year because the reconstruction projects and actually help them with the revenues I'll for the next four quarters out beyond that you know that's a little more difficult to baggage. Mean let's let's turn over to Home Depot this is a company obviously that struggled. Little bit in terms of the stock price here and there at that parts of this year but the last. Two weeks now it's pretty much been on a great run is that largely due to these two hurricanes. Are without a down about a company have been our have been prepared for this and they had stock double export distribution centers pre loaded trucks all before these hurricanes hit and they I want the best supply chains in the market. And I now all the stores in Texas are open and a floor on Monday all the stores were open and Florida on the company also cites huge surge in purchases just before this hurricanes hit. And they should see another surge after the record and it's so on this issue also another positive impact for at least another year with all the reconstruction projects and all the home project an app to app with a walk lumbar pain you know generators are these things in on deep of supplies people. Do we have any compare the data from previous storms like Katrina or sandy in terms of how long bear sales remained elevated after those storms. I'm most elves are looking at at a minimum of three quarters some state pushed out to almost its full year. Opera Home Depot and companies like Alec lows some nice benefits prospect on there. Very good Bryant thank you very much for the time. Brian Hamilton from Zacks talk about Waste Management with a ticker WM. And Home Depot with a ticker HD we think about. Did behavioral. Change that curse I remember you did may deuce at 56 years ago we got hit with a snowstorm. In October. And they were still leaves on the trees up and we lost power ire of you guys we lost power think for sixties. Ya wanna say that that was like five or six years ago now right and you know right around Halloween and I went out and bought. In the elaborate. Generator he's never used it since all I have I have does not affect last winter I think we lost power for about 24 hours. And I kicked in and I used my generator but to your point I think I've used it. You know for sustainability. Two times yeah you more than an hour. But it TE would you lose power in those EU guys remember the spray it you know when you remember it was when you have failed. You lose your power when you've got two little kids at home. And you know your you've got you're responsible for them. You all the sudden say. Honey we have to get degenerate we have to we have to change the way we prepare for natural disaster I see myself you put him on a couple stationary bikes you get that house power. You put those kids to work in you get them peddling their little legs until you get power back. They had promised you don't give you the full numbers again for Equifax Experian and Trans Union I hope you have a pen and papal paper handy. Who's here they are it's Equifax is 800. 3499960. Experience ED 83973742. And trades union 8890987. To. Lot of you asking me on the text line when about like flock what about these other credit monitoring services understand they are different. From. Credit freezing when you freeze your credit you've closed the door you put a lock on it. These other monitoring systems not that they're bad it's just very different service they are there to. Tell you would somebody is trying to open up credit in your name when your credit score has changed it's a different animal than freezing your credit. Chuck has frozen his credit. I am going to freeze my credit I think you should freeze your credit. You're listening to the financial exchange radio. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group 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 8776917. B 900 or visit leader bank dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank their 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 for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the -- equal housing -- -- -- is number 449250. Subject -- credit -- -- -- a step ahead hi this is -- strong with an important message for you and your family if you had a successful career and haven't yet taken the time -- plan for your future now's the time to make that call -- and -- and senior partner -- -- -- have been helping families like -- with -- state plans for more than thirty years and he's got a brand -- -- out this -- called back to the -- -- help you learn about the bare necessities needed to create -- -- plan but will also educate -- on important items like how to avoid -- and passing your assets along -- your family -- -- handle right now -- 8668485699. And ask for your free -- today that's 8668485699. You can also download -- -- right now by visiting them online -- legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't -- get this free -- today protect your assets and enjoy your -- years 86684856. -- -- -- And more specifically we're talking about required. Minimum distributions. Chuck when you hear that frees. Invariably. Somebody you'll kind of have this blank stare in their face because they don't know it's very hard to calculate how much each year you are required by law to take out of your individual retirement account. Yet the way it works is remember that you get a tax deduction every year when you put that money into the IRA. But eventually the government wants to get that tax revenue and so what they do is starting at age 79 or seven and a half. They require you to start taking money out of your IRA and it starts off is a relatively small now but the problem. If you don't take that amount out when you're supposed to. There are some very significant penalties that you can end up paying and by the time your eighty. The money that you have to take out the percentage that you have to take out of your individual retirement account is a lot more than it was at seven it grows every year so it starts off at about three point 7% that first year and it grows and when he get into your mid eighties starts to get support seven or 8% so it does grow significantly in you have to be aware that that number changes each year. Just a suggestion here but folks who might want to call Armstrong advisory group. And receive their 2017. Retirement plan distribution guide the phone numbers toll free 800. 3934001. That's 803934. Zeros or one. For those of you who want it right now. We can dot download the guide by going to our web site financial exchange showed dot com that's a financial exchange showed dot com for the 2017. Retirement plan distribution guy. I'd securities offered to securities America incorporated members Jenrette SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 down 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 bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring a war they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guy at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated 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 a leader bank's local underwriting and processing teams traditional 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 ahead. 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 leader 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'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 east savings account that has a one point 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. I need. This is the financial exchange with the Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city you. World and stay informed and up today to promote economic and market trends plus get breaking business news every day it's. And now the financial exchange with the very Armstrong and chuck Exxon. You have been. That's right you hear in listening to the show and I'd say there's probably in 95%. Chance that you've been hacked. What am I talking about what the Equifax breach affected 73%. Of American adults. And I'm assuming that you may have had a job at one point or maybe you borrowed money to buy a car one polluter maybe have a whole mortgage or credit card. And chances are you're in that situation you've been hacked I everybody it's very and chuck with you here on eight Tuesday. And based on the questions and phone calls were receiving chuck. We we need to step back and explain first of all what happened Equifax. And why this is the most dangerous data breach that we've seen in history. What happened is that a 143 million accounts were exposed. Ian Equifax is data. What I granddaughter doesn't happen so we have to worry about her now is if it's someone who's never had a credit card never had a job never had anything you know in their name. Not gruesome they need to worry about god if you have ever had a job if you've ever had a credit card if you've ever had a mortgage if you've ever at a home equity line of credit car alone. Any of those things. You or most likely affected by this what kind of information was stolen and it is four point ad doesn't matter where the have a credit score of 800 or via credit score 500 now. You're Europe credit has been hacked what information might have been taken your name. Social Security number your credit card numbers. Personal documents that used to apply for some of these you know different lines he amount of the carload that you had in 1984. How much your mortgage payment is every month the phone numbers may have been taken as a whole bunch of info that might have been taken. What I have done and what bear is going to do shortly. Is I have frozen my credit OK and let's be very clear about what freezing your credit is in what it isn't. It is not credit monitoring so it is not setting up a service to delete my dad as well I could not okay why didn't you do like a life walker credit monitor there's a variety says that since we shut my credit down so it's better than credit Mon credit monitoring just tells you if you are having new accounts opened and got hacked it does not do anything to prevent new accounts from being old or so. Freezing though has its downside so it does if you go in free easier credit in you have to go to each of the three major bureaus which are Experian. Equifax and Trans Union will give you the phone numbers in a moment freezing your credit what it does it prevents you from opening up any new lines of credit what that means you can't go open a new home Equity One you can't go take get a new mortgage can't go take a new car alone. If someone wants to run your credit for a job via okay what about O'Donnell that is slowly down and Elliott that Italian blood brain injury and you like speak at duke. Your you've got an open line of credit you've got to credit card with 50000 dollar credit line that. And I keep using that 50000 dollars credit you certainly cannot get soda. I I I was giving example I've froze my credit yesterday morning I went out to dinner last night. I had no problem using my credit card home equity line of credit home equity line I have one of those open it has not affected that and anyway in my mortgages not suddenly been rescinded and not kicked out of my helps if I want to refinance a property if you want to refinance now okay that is a new application. You would not be able to do that with your credit frozen you would have to go and unfreeze your credit Dan Costa and another five dial which cost you another five dollars and ordered to do so and then you would be able to go and proceed with background. So applying for jobs could be problematic yet. Applying for home equity line of credit or new mortgage could be problematic. Applying for Carlo. Could be a problem any new credit cards switching insurance companies say this is something I'm you know like we we're advocating I wanna be very clear here. We are advocating that you freeze your credit due to this data breach it is that bad folks in I don't think you've heard me come on and I don't just randomly. Give you advice I'm telling you this credit this breach of Equifax was severe enough. Where were suggesting you freeze your credit. But if you wanna buy new car insurance let's say you wanna switch from Liberty Mutual to nationwide for your car insurance you could have a problem with that. You cut and what you have to do than is temporarily unfreeze your credit which they give you pin that you after the an input and say OK I'm gonna unfreeze it based on the spin. And that's something that you would have to go through if you wanted to unfreeze your credit for any reason. Can you freeze on line yes you can go to Equifax. Trains union or Experian. The web sites and you can do it online I might need to buy a used car in three to five months. Well that's a problem. You know EU as a in this is 4130 speaking of 43 you're gonna have to make a decision are you willing to run the risk of having. Your identity stolen for the next three to five months to deal I'm just telling you chuck told you what he did he throws his credit I'm telling you I am doing. I am afraid enough of this Equifax breach that I am freezing my credit. It's that if it im not talking about like flock about ties of the monitoring systems are talking about. Freezing my credit it it it's painful to do. But if you're concerned about Natalia who I think should absolutely. Freeze their credit. You know if you're young in Europe. You know we ears you're living and active life in your refinancing. And getting new credit cards and car loans and I can understand and apply produce jobs. I understand why don't free credit. If you're retired though. If if you are retired in your San while on the to be spending. Three months a year in Florida and it and I travel a lot heck I'd give it credit freeze. Let him be split. A couple other questions if by a freeze my credit myriad is my wife's credit frozen as well know. She's a separate person almost he had to do for both you do have to do for both them because remember it's it's it's different people that. And so you know. I'd I don't know about any of you. Another question here. From five away what's a freezer credit freer to three years now I get whacked credit freeze does not last for a year credit freeze last indefinitely and right you choose to unfreeze. It's not like a fraud alert which is in place for ninety days what do I have to freeze it on all three sites or will doing it on one accomplishment in order to be the most secure you have to do it on all three sites because let's say that you do and on Trans Union and someone decides they're gonna pull from Experian and you could be at risk then so. I would go and freeze on all three cites another from 603. How long does the threes taken how long does that last Howland unfreeze takes about half an hour to go through the process that's how long it took me to do all three. If you want to unfreeze it it's generally recommended that you do so about a week before you want to apply for any new credit. 860 is asking how long are we at risk for having our identity still forever. I would agree this is a forever situation because they stole names Social Security numbers and those are changing. You cannot change your name mostly. 805 and currently a student will student loans be affected. If you apply for new and you know yeah I EU wouldn't be able to do that. Boy is just a million questions come from I've poor credit and I still risk of identity theft yes you absolutely are in whether you have good credit back creditor average credit. You are absolutely riskier and it's something oh here's a good 1603 wood about my small business accounts let's say you're. You know you've got a lot of credit issuer is your hero cape yep if if you have existing accounts a credit freeze does not affect your ability to access those accounts. What this does mean though is you need to monitor those because some of these account numbers were exposed as well needs and you do want to monitor any active accounts to make sure that you're not seeing unauthorized charges. Would have. The Equifax website says you were not compromised I wouldn't trust those guys as far as I can throw these of this is equity and throws pretty far this this company's same company were three the executives traded on insider information. So I would I would not trust anything. Coming out of Equifax and I would not voluntarily do business with that organization. Made reservations for critic car Christmas time flights nine European there you're paid for them. And I still get my credit report after freezing the count. You can but I think what happens news you each shows up is the account is frozen EU won't get a school. You won't be able to pull any hard data from it 617 we'll drop your fight goes scored no knock him drop ficus scorn any way shape or form and went through chapter seven bankruptcy earlier this year I think my credit is already frozen. Can freeze if frozen credit foot thick and doesn't hurt to try. It is is somebody going to jail and I don't mean the criminals I don't know. How would I I I think you'll see I think you'll see. People go to jail for math facts you do. I do in the DOJ elasticity were going to take a much stronger stance on white collar crime. We saw Volkswagen executive jail about a month or two ago are going to be out in six months. All I'm saying. TV seven what did you honest I think you're going to see a number of people go to jail. All right how do you freeze your credit LP of that pen and paper warned you about. Equifax you can go to their website it's Equifax dot com or you can call them toll free 800. 3499960. Experian. Go to their website EXPERIAT. And their phone number is 8883973742. And trains union. Transient dot com or call them told free 889098872. Are there anymore. Text questions Tucker that I must answer. One asks how does it affect bank account or in data caps. A hard thing. I think that vitamin a type do you wanna buy some cats with a debit card debit cats I don't know maybe at the time debit cards are fine if you're just spinning your own cash doesn't affect anything out or somebody did ask about their forward today. I think it helps you protect your 401K in that nobody's gonna be able to get your act access your information. But they've already got. They've or you know the went from five wait are you have a monitor serviced by still need to freeze my credit you don't need to do anything I would recommend that everyone out there. Unless you have things and us you have credit applications that are out there right now. You should be freezing your credit do we have a class action lawsuit here yes 31 that's been filed yet and you will get nothing. Now right yeah I will promise you. You'll get no money at that crap class action for six or three and I'm in the middle of paying for home act of applying for home equity line of credit what do I do. Get that line done as quickly as possible put a freeze on one. Dawn why American workers pay twice as much in taxes as wealthy investors that's our next topic will be joined by Ben. Steve Herman from Bloomberg to talk about why the rich pay less in tax they knew the worker does. That more from the financial exchange radio network. Margins continue to fluctuate but we've got you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 only on the financial exchange radio network. If you worked hard and had success in your professional life protecting your wealth and your assets is essential to your ability to enjoy your later years advanced estate planning as many benefits and if you're like me you should want some sound advice on the best way to set up your state hi this is very Armstrong and if you're in need of state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and -- at 8668485699. And ask for their brand new guide called back to the basics -- lets -- host of the legal exchange radio program will educate you on the basics of creating your state -- including how to avoid probate and estate tax reduction call 8668485699. To get your free guide today the law firm of Cushing handle it has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to legal exchange showed dot com. If you're in the market for a small business loan you need to call leader bank if you are 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 any 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 S. DIC this is very Armstrong from the financial exchange did you know that once you turn seventy and a half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take great exception to the armed evil in the current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated 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 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 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 stepping. Add member FDIC no minimum Alex fees may reduce earnings rates subject to change without notice and may change after an account is opened. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. Why do American workers pay twice as much in taxes as wealthy investors looked at terrific question and we're joined by the reporter on this story Ben Steve Herman. From Bloomberg I don't today Ben. So take us through the tale of two taxpayers. One is the wealthy investor Macon 300000 bucks a year in the other is the emergency room doctor making 300000 dollars a year. Yes fifty compare them side by side. And he emergency room Doctor Who gets. Got 300000 dollars in we just. It's basically paying about twice as much in federal income tax but it is a bit about eighty. Let's say that they are paying the maximum width no deductions both of these in areas. That the doctors pay about 80000 dollars in taxes and it did this somebody who inherited that money in his living off capital gains and dividend. Is paying about 40000 dollars in federal income taxes and that's before payroll taxes which are sort of a different category but it. But those are also taken a big bite out of the doctor's salary. And also did doctors employers in the hospital you have to be about whereas if you just living off of investments you don't. It was a good statement to a different perspective he had a 300000 dollar earning doctor he gave 104 dollars tax the wealthy investor the guy who inherited his money. Paid 41000 dollars in taxes the difference in rate folks is 14%. Vs 34% right. Right on to what degree have these low rates helped wealthy investors how much richer had the gotten. Well we had this explosion inequality. In this country especially since the eighty's and ninety's. And I think he can partly it's hard to know if there's a lot of factors go into that but BBC had the top point. 01% tripling its share of the national wealth. In that time. So I think we stacked Foster probably part of it and paying a lot less on the capital gains and excel. A big business or Keeneland went Zuckerberg felt as Facebook's sake you know he's paying much slower read. That he would. Back in the seven. Well speaking on behalf of the 1%. I do it do higher tax rates discourage savings in other words. If if my tax rates were like the doctor at 34%. Wouldn't that discourage me from saving money. Well economists argue about this a lot. But unfortunately a lot of their arguments are based on theoretical models and you related to veto if you look at the real world evidence. It's hard to see. Actually have that much in effect he conceded. And in short term factor though if you know your taxes are gonna go down next year. You might lead to sell that is essential that stock hasn't been on it so that he can get the lower tax rate but over the long term it's really hard to see. Rich people ceding more more capital being created more as the economy growing more because will tax rates. You know it while you're sitting ally the wealthier savings rate now that it's deeper in the top of the top top point 1% we had stated came out. Just their city about 50% of their income. Had been talking anymore. Great to top 1% saving about 30% entering. Exactly and that's been pretty consistent no since at least. Seventies then it's possible that was posted a little bit by the low but lower taxes. But that's also that creation of wealth of building could you know. If contributing Q inequality because it. Those folks are shading more and then they're keeping the money and they're saving more on those gains that it it's sort of self fulfilling cycle. Where is the bottom 99%. Aren't saving much at all. Now know that there wealth is going down along with their wages. At least the wages are stagnant mean. And yes folks in the middle class are having a hard time skating. What do you Donald Trump when he is on the campaign trail. Said he was gonna go after the hedge funds he he admonished them said they should be paying the same rate as a doctor or lawyer. What's tax reform gonna look like. It's possible that they'll close that loophole which is called the carried interest Whipple justice. Basically says somebody. In I think slightly different they know what we're talking about a that's saying cemetery manages hedge funds and he goes to work every day on those folks. Can basically get paid as if they were. Passive investors they get to pay a lower rate even though they're making the wages. That really seen the back in 1986 the last and they did tax reform. He basically narrow that gap between workers and investors and expect OK everybody pays the same rate on dividend and looking at. And we just. It really had no aside that that's gonna happen in fact he might widening gap a little bit 'cause. Republicans don't want to go after these Obama care taxes. And one of the. And tonight it let me interrupt their bed and here are you talking about the net investment income tax crack. I thought they're leaving that alone I thought if the I thought the Republicans are gonna leave that does need it. Well. I think that. Might be what they decide to do you they're still people in the Republican caucus as such in the house two are still trying to kill that. I think is proud you're probably right that is the drug administration has other priorities and his estate tax the Alternative Minimum Tax. And corporate income tax cuts so those probably will come first. What about the estate tax you that you you'd think they're gonna go after the state tax and try to repeal that I I don't see them. That answer. I eat. I don't know you know based in new York at night on Capitol Hill every day by. And the thing is that you Republicans pretty much agree on that one at least two they they disagree on a lot of other things get by they agreed that. It's as a caucus and I think I don't trump this is something he's talked about a lot and they've really hit this estate tax called the death that. Okay all right Ben thank you very much free time we do appreciate your bank that's been Steve Herman explaining. How 300000 dollar wage earner. Pays more than double almost triple the rate of income tax as opposed to the 300000 dollar lucky sperm. You know what. Good way to put one in my which I was I'll be super like every and a full owner rally. It would be nice to just be like born rich. Sure yeah and maybe it isn't made me maybe it's. He's just discouraging isn't which part of the 34%. Tax verses fourteen. Well it is and one of my biggest complaints with the tax code is that it treats income drastically different way and in reality. We are returned isn't necessarily quit is important is okay you're still utilizing a lot of the same services. Wire you know paying the same as someone else. You know it would if you make this money through investment income or you're not you know going on roads are you not. You know taking advantage of our health care system up next for talking about Alexion Pharmaceuticals in their plan moved to Boston from New Haven, Connecticut. From the financial exchange Purdue and. You've got Barry Armstrong. Financial exchanged a look I mean Cilic 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 god guaranteed by the bank and may go down in value leader backed. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are required to start taking withdrawals from your irony the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution -- at 803934001. That's 803934001. Or you can download it from our website financial exchange showed 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 the securities American companies are. Unaffiliated hi this is -- -- with an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call -- and Dolan and senior partner Todd let's -- have been helping families like -- with their state plans for more than thirty years and he's got a brand new -- out this -- called back to the basics -- help you learn about the bare necessities needed -- created a state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now -- 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't -- get this free guide today protect your assets and enjoy your -- years 8668485699. Or download it right now at legal exchange showed dot com. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of rent date with easy brand leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we Z rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816 or 18691. Very Armstrong here and I'm joined by vice president Jeep tool from leader bank. We're talking about zero rent this is exciting because zero rent isn't method for landlords to collect their rent electronically but there's now find refining Jane that it's being widely adopted by Condo associations tell everybody was he rented. Right so easy rent is a product we innovative leader paint. Comedy can be found it www. Siren dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronically from Tenet's. So there's several advantages first you can say goodbye to being reliant on the US Postal Service. Goodbye to delays in the mail and no more need for paper check rate. Where Israel and a lot of millennial Estonian have a checkbook re getting that all the time Elaine horrible call in and sign up because his tendon saying you didn't checks the in British really starts to get funnies when you your landlord and you have. Multiple tenants living in units this grad students the university. Well right now they're all writing multiple checks and sending them in and throw in order a source become confusing pain in the neck so would you read will do is it will actually deputy each tenant account individually. Matches in 101 payment for that unit to landlord. And then of course there are some reports in notification to all great stuff. But going back to your question about Condo association's a lot of Condo associations have been using you aren't as well. Because the Condo payments that kind of the shirt to 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 something that you need to learn more about folks visit. Zeev rent dot net to learn more that's the website address or call them at 8776917900. Toll free 8776917900. Why collect your rent or your Condo fees with paper checks. Get with the modern age go to easy rent dot net or call them toll free 8776. I'm 17900. They say video adds ten pounds. But don't tell Berrian jogging the financial exchanges alive every day on FaceBook and YouTube Davis he's the financial exchange radio network. Election pharmaceuticals is cutting its work force by 20% moving its headquarters to Boston. And closing offices in manufacturing sites as it works to cut its overhead and move on from the sales practice. Controversy this is being reported in today's Wall Street Journal we knew that about this last night. We got word of this in about 1020 when the Hartford current released information they knew about it last night and day it was in the current. This is a blow for New Haven, Connecticut. It is a mean you've got it at the moment they've got about 820 employees in Connecticut and in that New Haven area. And so of those jobs are all going to be heading up to Boston will not all of them not only going to be cutting about 20% here well here's what they're gonna do they're gonna have 400 positions in Boston don't gonna be at one seaport. Don't want when he went seaports is just walked past that building last night good looking building. That's were election will be with their 400 employees about 450 positions will remain in New Haven and those employees will work and roles including researched clinical supply and quality and nurse case management companies with stocks down today is a company with a new CEO. They had some problems. In last year to. But it kind of makes sense for Biotech company Boston has become. The global Biotech headquarters it is and it's where these companies wanna be. Primary reason is I understand check in you can correct me if I'm wrong. They wanna be where the talent and this is where the talent in that particular industry that's where the talent is where the money news. You know you talking seed money to do the VC money in the ability to instead of having to schedule you know this whole trip in this that. They can walk down the street grab onto the VC got it might be able to give you ten million dollars. Another act company Killian stock tumbles after termination of hepatitis C. Collaboration. ECH. And as their symbol they also base they are also based in New Haven. Yeah and this was a a collaboration with Janssen pharmaceuticals. Which is a subsidiary of Johnson and Johnson and they announced that they are discontinuing. A hemp seed treatment study for what they called J&J 4178. Which was a three drug combination. And so effectively. They have discontinued this this study at this point and so it Killian is going to be forced to. They'll figure out and kind of retool and figure out where they're gonna go from here. Couple days ago we talked about Danny's their closing. This is retailer that's been around since the 1924. And he had 31 locations struck. And they couldn't sell those locations what do you think the big problems for. They just the you know they didn't innovate and they got caught up with a lot of retailers. Think about as Ayers thing about it and hoping to boat aims living just think about all the general retailers that have gone out of business. Don't now they're stuck with a roasting they'll sell off the realist in some capacity for the family to shut. The doors yeah it's it sat for company that's been around for 97 years now I'm not 9793. Years. And unfortunately. You know what this this is the nature of retail retail is the toughest space. To be in today and fortunately this company is a is a casualty of this. And it's it's tough for the 715 employs this company is merely they have to move on and find somewhere new to go that they do. They'll they'll find work. Just a quick reminder that during the month of September umi call my office. And request the 2017. Retirement plan distribution. Guy aid. Why do you want it well if you're turning 59 and a half. Or at say if you're over 55 should call let me put out. And I'm not seeing your old I'm in that category. But if you're over 55 years old he should call my office and receive 2017. Retirement plan distribution why. While you're 55. You're thinking about when you're gonna take money out of your forward cage and when you take money out of your diary day in. G would issue when do I access the money in Iraq firing this guide or giving out during the month of September. Is meant to assist you in that capacity. Call the office or 803934. Is yours or one if you want you can visit our website which is financial exchange showed dot com. And you can download the got a great night of the week and make baffled. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Are you going to freeze your credit that was our poll question today and you know early on Tucker. Vast majority of our listeners were not going to freeze their credit. Definitely like 56% Zamora said non it's to a worker. But now the poll numbers have switched it looks like 76%. Saying they are going to freeze their credit a today just the no brainer. Like the guy that should absolutely freeze their credit if you're retired. Way out type I I'd be hard pressed his used to mind at least by experts my clients or retired truck. They they're not looking for new jobs the not taken out new mortgage there they're not by the way they buy new cars and pay cash. And look if you do need to at some point take out a line of credit or go apply for car alone unfreeze and that takes a week. Takes a week. The cost you five cost you five bucks per per agencies are really fifteen it is a small price to right so much to a boy aid some of the problems that you can run into with identity. Anyway that's our suggestion to you. And I'll give up you know what I'll post the phone numbers on my FaceBook page. If you follow me on FaceBook QB of the of the full members were all three of those agencies that page. We do attribute today based on apple because apple as you know is unveiling their next iPhone. In what year did Steve Jobs in Steve Wozniak. Start the company apple. 68680s. Or text number fewer the first listener with the correct answer that question they went public in 1980 but windy they start the company started in the garage. In what year did Steve Jobs and Steve Wozniak start apple. First listeners correct answer wins 25 dollar gas card text number is six ED six ED talk about the happy used states. In America. Happy states in America you know would I I was look at through this list. And a new start off with the unhappy states in the unhappy states tend to be states. That have wherever things bad well Dudley here's what they have they have low levels of education. High levels of crime and high levels of poverty. Those that make you unhappy. It ended unhappy if I was poor stupid. And apparently it did and getting my adult and getting mugged outside I'd I'd be unhappy and what happens the attack since I'm not happy as opposed to what what what are your stupid communicate via buried. Online answer what was the the animal house quote that's stupid lazy is no way to go through life know that only too happy you misquote animals that's a against it. That's it. So do the worst ten states in terms of being happy. West Virginia Oklahoma Louisiana Alabama Arkansas Mississippi Kentucky Missouri Tennessee. And Alaska Alaska's fiscal. Yeah and again there's no when they are just depressing and expect a panel son trying to the sun's out like what was it like tort I don't assigned doesn't come out they've clearly the midnight baseball game in the middle of the summer right and then it's dark the entire winter yet awful. Rhode Island is the unhappy state in all the doing where's that clock you know for all. 33. Not bad if that's the worst New England now in its 33 but again you know you did a go to go to mighty us earlier stats right. Lower level of education lower level of income in Rhode Island they'd like if you compare to the other states like one New England state makes into the top ten. Which India think that is folks a little bit little bonus trivia here no prize. New Hampshire. New Hampshire the happy state New England clocked in at number 102. Habeas Vermont at number thirteen. Connecticut at eighteen Massachusetts at nineteen I was before election announce that the main 25. Surprised some of these states rated as low as the they have like North Carolina everyone I know who goes down their lawns. Minnesota's point six Minnesota's number when you talk to Hawaii three. California number four. Nebraska five why was Jersey six. Mean I mean I know the jerseys more than just the highway Kazaa I get that nice beaches but six is great restaurants it's like six is like south Dakota's number seven. Good jobs at least until last year Tokyo the use them via you step good jobs Iowa number eight on corn in Wisconsin good chief of cheese and Maryland Lotta crap I pretty much look at every state with regards to what food they specialize and that's how I judge the happy estate. So Minnesota Iowa there and I say what they do it's unique from food perspective I don't see. Okay Hawaii okay got all the seafood and everything you know I I if if I was probably making my best hockey players commends. They zoom they do you look at the report you'll get a population of Minnesota and compare it to all the others. Minnesota Michigan and occupants of Vermont's doctored geez Colorado where the food out there and there was a happy state was number one Minnesota Minnesota. Now they got them all in all of the the government so they're very nice people too they aren't I think they have ever heard anything down from Minnesota say anything bad. I'm never going to work and it does say to use the Buick you say how would you do they go. Oh it was a good. It was OK you know. You know they might avoid just gotten run over by Carson those like that was my fault. I had not been there I it's my fault you know I was trying to get. NFL. Viewership numbers over the weekend and insanity had seen any data available you know why. I don't know is known lots they do all the data analytics in Tampa. OK interesting. So the Tampa's underwater. What big it is bad habit. He's the reason you can't like I looked at this point isn't we knew that. The Thursday nineteen did not do well from the viewership standpoint ugly aka no interest and it was down. And I was curious to see how this first weekend did patriot base the whole season on one weekend. But. We'll get who you were not to do to get those numbers for awhile until Tampa gets back and it's the cure Sarah looks we point compared to last year. If if they're the ratings are down further. And it worked for. Our interest and I can't believe that she's patriots was down gale that's shocks me down 13%. It's going to be the chiefs are being a big draw. Because everybody likes to turn into the well it's okay here's the other things you did have all these evacuations going on in South Florida about all those people might not to watching Harvey's very known in Houston's watching necessarily let's see you know what I think given a month and he. You make it call on the NFL. In October the FB given late October now giving as if they're not doing well. In October. Verses 2016. And that means they've gotta root problem I'll absolutely I mean Zeta got a real problem is an election this year. That was their excuse mr. Murray talked to Bob Kraft and the election Bob you what you were. Yeah pay up next we'll be talking about five things that prove to Americans are horrendous. At managing money. From the financial exchange radio network. The financial exchange could Berrian chuck is alive on FaceBook and YouTube every morning beginning at ten Dennis is the financial exchange radio network. 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 -- 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 log -- to leader bank dot com and sign up today this rate may change without notice -- 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 on -- so logon to leader -- dot com right now -- leader bank dot com -- -- a step ahead. Security suffered through securities America income members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question. As financial extreme show dot com while you're there buyer of the media player and watch the show while you work. This case the financial exchange radio network. This segment of the financial exchanges. Brought to advise you read your landlord take advantage of zeroed in fully automatic online right collection tool. This is free for landlords and an account at any participating banking almost free protects. Sign up and have ranked checks deposited directly into your account call 877. 6917900. Or visits he ran dot net for more information. And 197060. Jobs and Steve Wozniak started apple on April 1 1976. Their first product was the apple one personal computer. And Mary from Whitman had the right answer before anyone else mayors taking on the 25 dollar gas card to mobile. And Trevor is brought to you today by liter bank calling to bank today at 8776917900. And ask about their new. Providing free online banking. With a one point 15 annual percentage yield that's 8776917900. From leader bank member FDIC. No minimum balance beam me reduced earnings and rate subject to change without notice in the change after account is let's prove. That Americans are horrendous at managing their money. Five key facts here number one Mo more than half of Americans have less than a thousand dollars in savings. 57%. Of less than a thousand dollars in their savings of I junior in Florida you're Houston. And yet no job be no home right there and swatted it had to handle money. Her pets are all. 39% say they have nothing in savings at all now look. Things are obviously tight for a lot of people but if you've saved ten dollars a month. Just ten dollars a month which is thirty cents a day you say you take one quarter everyday put that aside you have 120 bucks by the end of the well another point is that more people worried about paying for their next vacation in savings were or retire its this is kinda shocking 36%. Of Americans are more concerned about paying for the next vacation that having adequate retirement savings which is 32%. And one of the big problems that I think people weren't into. There's been a bunch of studies that have been done on this people are really bad at conceptualize and what a year actually means so when he tells someone I'll get ten years to retirement they say oh that's that's way off. If you tell someone they've got 3000 days to retirement and their eyes kinda get big legged deer in headlights they say. Oh when you put it that way it's a little bit dip. So have you guys started. You know hiding money from your wives. Irish girl Imus I put dollars or on the house Easter Egg Hunt on a mattress and media. And an estimated twelve million Americans confessed that they kept east source of money secret from their romantic partners. I don't know what I would do this for years. It's the it's it's it's good for me it is it's explain this to me how is it good for. Well because you know I just wondered you know well world. She felt very mouth he knows. Like you and I believe she's listening at the moment I keep my money in that regard I believe she's a big fan of the show. It's in the cigar box rates which you'd ever cigar box she does cigars. They keep. Under the cigars recchi. Stash some moist eyed cat food. You kept it light fuel and you figure I mean noddle Herbert what the is gonna look in cat food for money. Not talk about the talk about why count what's the difference. Hopefully. If these by take less money than us whats the difference is happy with just the simple point dollars in they go on you're paid up you know. Yeah wives get half. And what I've never have to find that out. We pay the wrong bills first is another example why the blogs in that instead of paying the big things like auto loans mortgages and credit cards we say we're gonna pay the thing's first you lose track of some of those bigger bills. They're more important in the long. Here's proof. We've trillion dollars in credit card debt night yet so I talked. Young people periodically. And policies than. Look at me with a blank expression their basic. Talk and and then policies and caring and credit card debt you'd be amazed at how many people in college are carrying credit card it. And who are 25 years old. Are carrying credit card and all I know people my age that have 2030000 dollars in credit card and they just they can't dig out and it. They they just do dumb things here's what you do if you're in that situation real credit card debt. And give you some advice they told you had a preacher credit earlier now gonna give you some advice as it relates to credit card debt. Yet a second job. Yeah it is no accounts are spending while he got to the cars that get a second job he would get a job. You know everybody's different rate that you could get a job fun job. Is refereeing sports like soda like he could be a soccer and actually now licenses. Its exercise I get a you don't leave a lot that he's drop in elbows you run Beimel on the sidelines refereed is that audio and you get a second job if you credit card debt is board vice from barrier for a if you're credit card debt get a second job and keep that second job until you have the worker. You're listening to financial ski injury and.