Oct 6, 2017|
Full Show 10-5-17 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
I. This is the financial exchange with the very Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. The situation in Puerto Rico and the Virgin Islands continues to deteriorate. The islands are without power clean water or self service. Looting and crime are out of control. Get bad down there folks hi everybody it's Berry and chuck with you here on late Thursday morning the day before big jobs report that. This Puerto Rico story is not gonna go away if it's it's it's actually it's getting spiraling out of control. Crime a big problem. Yeah you're you're seeing really just as people continue to go. Days without the necessities just to kind of maintain order in their life and you're seeing an increasing crime simply because peoples don't have what they need in order. To survive in some cases where without electricity. And I was talking to somebody down there yesterday. And they said a big problem is generator that. Yeah I mean I I would imagine just because if you have a short of electricity and beyond that. I'm sure this probably also issues with theft of the fuel to power those generators you know let's say that that's right you know you can't get enough gas or oil nor the power the thing and all this and say gee I guess of the siphoned from me you know whoever's next door. You actually have to guard your own generator via if you if you have a home in your lucky enough to have a generator you have to guard it 24 hour today and the biggest problem is that night he might turn it off at night in order to get some sleep right and people are trying to steal a bring this up because 69. Massachusetts. Police officers are headed to Puerto Rico Connecticut descending police officer are all northeastern states. Are sending police officers to Puerto Rico and the Virgin Islands to provide support. And the art I guess what they're doing chuck from what I can gather is they're asking for volunteers. And particularly they're asking for volunteers for any police officers in New England that speaks Spanish. Yeah I and what they're going to be doing is they're gonna be sending three separate groups of officers that'll spent two weeks each on the island. They're gonna also be the point thirteen state whose whose state police cruisers during that time for all six weeks. And and really just helping helping to. Maintain curfews are the security duties no making sure that they can try. To restore law and order to a region that is kind of lost that it is. It's a great study human behavior and you wanna see what happens when you dial everything back and Anders you know there's no. Infrastructure right. Boy and this is it and you've got these officers going down and a lot of New York, New York is providing tremendous amount of support. To the islands just because there's so much so many Puerto Ricans that live in the New York area there poor people of Puerto Rican descent who. Immigrated to New York 1516 years ago right you know their families they've been in New York has a huge Puerto Rican community writes the largest yeah the largest in the country. I suspect that Florida would be the second but I am I don't know by state. But I know Massachusetts has a lot and Connecticut West Hartford, Connecticut has a large Puerto Rican population. And you had people are rallying. To support that we I've I've got the numbers are different area Puerto Rican populations nationwide are enemy that's attracting guests this. I'm gonna say a Dubai city your state I'm doomed by state do you want raw numbers are by percentage. Ron numbers Oka and an assay New York first up Florida second. And long ago. In a city. New Jersey lower. Massachusetts New Jersey is number three to get top three Pennsylvania's number four Massachusetts number five. Connecticut California Illinois Texas and Ohio round out top ten. While the other thing that we talked about yesterday is Connecticut by the way has the highest percentage out of any state. That is what Hillary to population seven point 1% of Connecticut residents are Puerto Rican descent I did not know that. New York's second if five point five but yet is it to your highest that's a big voting bloc. Isn't it it's over a million people in new York at about 250000. In Connecticut that probably explains why the New York governor has been so attentive. Alia in the no doubt the Lou when one of the things though you know like I've I've mentioned this in the past is. You you really have to question the competence. Of the islands and and I hate to say this but you know when you had. The hurricanes hit in Texas and in Florida. They were ready and organized and they knew how to get aid. In Puerto Rico they didn't. Ask for any help until six b.s. After the the V Maria at the apartment I think is just you you didn't have good communication so they didn't even know what they need half the time it's you know the sadness and okay it would what do we actually need like you had no idea but that's something your your leadership is responsible pair. You know legality and no there's no doubt the because of the lack of infrastructure on the island they weren't prepared for. They did in that telephone poles they can have wire immunity gate they they were not ready. In any fashion to deal with this strategy it's also harder to get that stuff there as it is an island it is but you know they see if you wait sixties at six days where you're. Your frozen you know you were you eat nothing good happens during that first extended period time. And in the states were ready to develop it as as a radar in in stages in the saying look we wanna help we don't know what what you need him. The wood I was surprised to learn right in I didn't I'm learning more about offices as time goes on. But the federal government is picking up the cost of all of the seed for the first six months. In terms of which like covering the odd state that's the states that are sending actually are reported downs yeah yeah so. The bill like Massachusetts or sending 69 police officers down in Connecticut descending down trove of them as well. And and I said to my support who pays for. In and I learned that the federal government will be paying for that for the first six months. And you know I was just the it's a good thing because Puerto Rico literally doesn't have any money. No really they're not going to be have to meet government. You think that they they don't even have power a lot of their ATMs the other would be teams that are working don't have enough cash in order to meet withdrawal needs right now like it's. It's a real problem just trying to put the put the economy back tears put people's lives Specter it's it's. Everything has fallen apart pretty much an end in just imagine it's like over two weeks now by the way. Let's say your a teacher library in your a nurse or doctor wiry and stay right there are are eager to get on that plane and go. There's definitely some people who will OK there's also plenty of people who say knows where my home is not gonna rebuild us now the other places that you always have that in. In any type of disaster like this you remember following Katrina yeah there are people who left New Orleans because they said look we don't want it and went back and it never came back. But you also let people said hey I've been here for forty years. You better believe I'm going to be here another forty wonder what they edit the end the shake out will be you know when we look back at this five year from now you know what with a poor population of Puerto Rico's 3.4 million today in her it it'll be lower how much lower I think it depends on how long it takes to get basic services restored to the longer that you. If if you can get basic services restored it makes staying a lot more tenable for a lot for a lot of people just because they say okay. I have everything I need electricity and heat running water and I need access to food money I would think the elderly would be the first to leave new. I'm concerned about what we're gonna hear in terms of how many elderly died after experience you'd see a lot. The other thing we're talking about yesterday it was Puerto Rican debt the president acknowledged that it's gonna have to be. I dismissed or what it would because that waved goodbye he said wiped out mic will wind up Mick move any came on about twelve hours later and said no we're not can do that so we got some mixed messages of the I think what. All the president was doing was acknowledging. That it's not getting paid back at a hundred cents on the dollar. No mean you're gonna have to do something similar to what Greece did with. The Euro zone where they said look we're gonna say instead of view having 74 billion dollars net turn everything in we're gonna have been a thirty billion dollars in debt gonna start from there. You're gonna have you know some strict quotas that you have to meet in terms of tax revenue in compliance and so forth and that's how they're gonna probably end up going I think it's gonna be very similar. To how the Euro zone dealt Greece were you surprised to learn that mass mutual owns more of that debt than anybody else. Somewhat a little bit there at the Oppenheimer neat deal and Oppenheimer and Oppenheimer's a big municipal bond funds. And they held a lot of Puerto Rican debt in that fund yet and in what's interesting they own close to it's about fourteen billion dollars in Puerto Rican debt that they owns about 20% of what's outstanding in their based in Springfield mass and part of the reason that you see this in NY BO. You see Puerto Rican debt being attractive to individual owners is because it's what's known as triple tax for an okay. There is you don't have to federal tax of pay state tax don't pay municipal tax there's nothing that you have to pay annual make an 8%. And it doesn't matter what state your and also which is nice so you can be in Florida and you can say hey look I get triple tax for even though we've got no real estate tax down there. All the said you moved to mass hey I'm still not paying any tax on this so it's it's kind of it's it's almost like you know oh what's it what type most universal donor this is the universal municipal it's it's tax free everywhere. Well the big companies that owned it where mass mutual Franklin Resources UBS asset managers. Goldman Sachs was number forces the president was right Goldman is gonna take a hit on this. Black rock invesco and board avid interestingly though like when we say mass mutual owned fourteen billion not the company itself. I'm talking about the customers of the cup. And the people the people who own it those mutual funds are the ones who own and and largely. Municipal bonds are owned by individuals because corporations if they owned them do not receive the tax benefit plus a great individuals who do. That's right they don't get the benefits of the yeah ownership of those so it interior. They coming up we're be talking about Wal-Mart they're putting its eggs in one basket. And will be joined by Michael corporate from the New York Times talking about the strategy for Wal-Mart to dominate the grower free business going forward. That's next from the financial exchange rate unit. 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 aren't. Break here we Berrian just on the financial exchange radio network. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group 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 yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't 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%. 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Wal-Mart has dominated the grocery business for many years but they've got a lot of competition now we're joined by Michael courtly from the New York Times. To talk about what Wal-Mart is doing to improve their grocery business I'm Mike. You're good so. Lots of competition with the U wanna talk about. You know Amazon. Market basket it's all the lie it'll everybody wants a piece of that business with Wal-Mart do to win it. There because. This is discredit. In many analysts and in this the grocery competition and Ellis and and air combat did you use. Most competitive. Sector probably out of retail and all these are all the is that you just mentioned. Our earth are scrapping to get a you know people shop there more. And and to gain market share. I don't have a big a big thing that shook up this this world was whatever our. Or who's in June. Just. You scramble. And all hard. I'm intensity there short answer to Amazon and Amazon's entry into the world of broad street I'm going to be lately or who's. It is this is it pickups and static delivery of street and ousted. India is for people come to order online. On the Wal-Mart. And and drive to this court. And in in the store. Before they get there in personal shopper to sort of an interesting concept. Having some of the war. He might produce great lady shot how much lead time yet to give them. Get it it is so it took out at the UR four hours. Typical one hour when oh yeah and you know get your picture commerce street and then it occurred. Hypocrite he could hear your car. Agreement and about Harrison's words. Doctor board and so on stores nationwide they're just. Keep printing it out I don't know. How could this is that it's it's still early and in terms of strategy. You know I think. There is some analysts have pointed out there. At least for a business perspective in there's more strategy is and so every every party. And so if people aren't going into the stores there to Korea their car maker is cutting. And it's harder and crossed are there I don't. Closed. To people if there ever stepping this story. But this is their strategy right now and there you know full throttle. Michael one of the questions that I haven't you touched on briefly towards the end there. The grocery business is historically incredibly low margin you look around him most the publicly traded companies they give us the info. In your talking like three to 4%. Margins when it's all said and done is this all about just trying to build up consistent traffic to sell other products. Yes and I was I think. Why Wal-Mart and integrate street back what it did you know according yours ago. What that it would get people in this supercenters. You know more frequent. Because you look at that you'd ever fewer years. You know clothing or every few months and secrets we never we so it was yet you're getting people in the strollers. To buy groceries and at all other high margin thinks. It is not using it actually Kirk. Would charge are we what is the tech if I wanna buy seats it on network. And I realized oh my gosh aren't enough food at home for the kids so I go on line at 9 o'clock in the morning and say Al pick the stuff that four in the afternoon what are they gonna charge me. To buy a hundred dollars worth of groceries. Right now. Your church. If you just had ordered thirty dollars or more. What's with what is the response did when he talked to consumers. See it hit the I I don't look at this is being terribly attractive if they said pay. We'll deliver it to your pals between four and five then I I'd I would find I would use it and I would pay for. Would be this curbside pick up doesn't do much like as they still have to go to the store. Or yeah. The people. And you know if there were quite enthusiastic. At the curb for her regular Wal-Mart shoppers. You know yet you have going there is huge all stores. Adam in and just kind of like. Drive there are ways to other things are doing that and then the other side and it is quite low. But you're right I mean I think. And so so much competition for home delivery yell and in Wal-Mart to have a little bit actor. Looper in the market and Adam but. Home delivered it in could be. Where a lot of these are it's its in its gain more customers and thank all our that is. Elect declared their art where he reaching you're reaching get him to just. Come from com to curbside for ten minutes I'd written. Under way to somewhere I'll bet that work at it if I can beat Wal-Mart money yet effort yet to lower cost hear the circular. Got it got Michael thank you very much for your time we appreciate. Your Michael corporate New York Times Wal-Mart. Kind of and I don't I I hate to be critical I don't own the stock. But I look at this hour as critical the I've not enthusiastic about the service you too. Will be raising families in the next five years is that a service that your wives are you would feel. You say hey that's that's pretty good like I've right now as an empty Nester I can tell you. If president if if rather than do that I'll just drive to Shaw's and a walk through a few wild grab what I need in the hope. Come quick with grocery shopping anyway is not one of those people that takes I've never understood taking an eye color green with me what that you you wouldn't use the service no I wouldn't. Tucker if a Wal-Mart was conveniently. Happened to be on my way home yes who would be something now or visit but most likely I don't have to wal marts near recent. What about the idea of growth free delivery. Because they they're companies working on it now was to and with technology today shouldn't be that part. Where you. Open your door war rate and you say hey you can deliver the groceries put him in my fridge between the hours of foreign five. I don't want anyone that's in my for its slow creepy dad has cut off that random employee of Wal-Mart going. Q your house it's I wouldn't mind a number and if I just don't want them in my fridge and got food and there's don't want them sent to that looks good and industry. Yeah that's my personal space TI thing it's my place of zen. My feeling on NA and look you guys are different stage of life denying him and the I would want the delivery. And I and it would bother me a bit. As if somebody walked in my house but the grocers and average and walked I could care does not undermine racial deal and I don't think you take that long like. How does it take you grocery shop. Well I use I have to go on a Sunday morning over the Janzen kids me about half an hour yeah. For weekly load half an hour yeah it's it's it's a half hours so I look at it a mile drive there. It's eight minutes now are able would now you your you you don't mind but what about when you've been to a hockey practice soccer practice a dance recital. He led to walk the dot cut the grass paint the front and defense. In Europe this time. Is getting in junior reason I always have time who bears and I always loved and always will be. They Wall Street watches up next we'll talk about. Fires stocks next from the financial stream radio and. Making your Smartphone even smarter. Come on no mobile lab by surging financial exchange show in iTunes or those who will play in stores this is the financial exchange radio network. 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That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as they're banking partner call 8776917. To 900 or email -- BO at leader bank dot com for more information member FDIC equal housing lender. Time now for street watch a look at the market's performance so far today until Berrian jog right here on the financial exchange radio network. Mike Armstrong joins us for Wall Street what we've got a couple big stories let's start first Mike with coach. Coach is down 50% the last ninety days what's going on. Yes they're pretty tough quarter and that they've been working and great Kate Spade. In there and into sales and into there just. They're working. There recently downgraded. At Piper Jaffray sending him just on going integration issues that Kate Spade. Brand the stock is down only about 1%. Up apple it down further down and premarket trading. Stalk little bit about Netflix and news a little while ago that they are gonna be bumping up prices how much. Yeah want to get and so they have three different tiers of service depending on how many different devices you wanna be able to stream Netflix on it once so you if you got a same manual on. Your kids I guess illustrated and time that you that is higher price for just being able to stream on one device but. They're bumping up those plans from one to two dollars a month depending on which plane you're on. And yeah that's move in the stock that they did this pretty quietly and yes stocks up about 3% on the news. Good thank you very much like. Michael Armstrong with Wall Street watch that's huge that there are raising the price I mean you think about the impact that task on their revenue. Unity if for Tucker in it for the three of rate will look at big raised about the bunker it would how much users can my logo to boxed just because I've paid for my parents now levels of gut cousins who were coaching on mind on would you guess that is being well acts mainly play and get the five. I reiterated yeah rated yeah I upgraded so leave your view with second cost it's gonna go from twelve dollars to fourteen that's what I have Tucker you know whatever the standard what is now. And that generous with your fame now I realize like what happened in your poor mother she released. Are free Netflix you were in the womb for nine months I think she just has Earl actually. Well that's a very grateful talk Liza I'm grateful. I don't know if the Shia as apple TV's energy Yaron at a very simple so that the ice kept doing locked out of my own like you Buick you like you only have access to two screens and both the renewed its like I'm paying for this what's wrong with the with the state of it and that duplex to watch his own account. You didn't learn the trick about changing your password. That's they like to achieve my pastor on the streets and again he would know I think Adam my kids all the but he it would cause more problem I Goddard I had a fight. Her team to that effort. You know it would it would it would in Portland for me well anyway. So the twelve well it's not really talked to Lebanon five. Would which one it's 1190 nights it's going to thirteen ninety OK in the new media on the standard tears go from 999. And up to 1099 so when he dollar. And the base one that's seven and a nice it is this base the base when you don't even get HD. Cinema I don't think many people have that. Here is big about the impact on the revenue would they have it just domestically didn't they have only eating millions since I've told all the state upgrade in value even numbers Gary greater heaviest and it got about 51 million subscribers domestically. OK I don't charges much overseas. It's a little lower it slows you think at the B average cost overseas somewhere like 67 boxes out there yet still in that ballpark. To get fifty called fifty million to make the math easy so you're adding by doing this about 600 million dollars a year in revenue in the one of the stocks. And so you say okay how are they gonna pay for all the content that you know they've they've licensed now. There can raise your price news. Who makes ball fires stocks because people are buying him like crazy after Las Vegas massacre yeah. If if you're not familiar it's it's a term that has come ups quite a bit over the last few days as. A number of the weapons in this Los Vegas shooting were found to have been outfitted with these bonfires stocks effectively what they do. Is they allow the guns own momentum. Two instead of you having to pull the trigger repeatedly the action of the gun. Will simply move in order to allow your finger just to remain in this in a fixed position to pull the trigger based on the movement of the trigger. Okay. And you know these are illegal at this point there's a lot of conversation about illegal in all fifty states or I don't know fits every single state. There may be some states that have laws against them but on a federal level at least. These are legal and the reason for that. Is that bonfire stocks do not actually Alter the form the firearms fire automatically they Alter the mechanism so it near simulates. Automatic fire but is not an auto fire mechanism. It's kind of a loophole so you're seeing a lot of gun buyers going out trying to buy these now for fear that there may be new regulation that comes in and takes away the ability for people to purchase them but it's unclear there's no legislation on the table right now but it's something that. Is being talked about the moment. They don't forget leader bank very innovative bank by the way. Is offering two point 05%. Annual percentage yield on your savings account maximum dollar amount 50000 dollars because it's such a good deal. In order to be eligible you have to receive at least 12100 dollars a month and direct deposits yet to make at least ten debit card transactions. And you have to sign up for electronic statements. Do this and you learn up to 1% cash back on your debit card purchases and they'll be no ATM fees no matter where you use an ATM memory. AT and he'd seen the back of the bar in the hockey rink. He would mean not pay the fees that ATM. You can open up an account online any time. And leader bank dot com or you can call them to hold free at 8776917. B 900. Leader bank is a member FDIC its leader bank dot com or tool free at 8776917900. OPEC pushes Russia to continue helping on oil prices. Eased to bowl at least both of these countries. Have a lot at stake in its funny your enemies in anyway. It's yet they're working together in order to collude on oil per. Blood CA you know Russia obviously has very close relations with Iran at the moment and Iran and Saudi Arabia or 82 are not guessing their oil and water would be near kinda doing a disservice to oil and water there they're there while they're still trying to kill each other they're getting effectively have a proxy war going on in Yemen at this point. And so you know I. I have some questions about how close Saudi Arabia wants to get to Russia but I can tell you what they do want to do. They want to be able to push oil prices up for the IPO of Saudi aramco. And use that IPO somebody asked me yesterday when will we be able to buy shares in its theory. Which is a country it is it is this the first time a country's ever Apollo program hiring them pretty much the reason why he concedes the country it's 97%. Of their economy yeah OK. You know. As far as when it's expected it's in the second half of 2018 so about a year from. We don't know exactly when but somewhere in the second half of 28 team is when they're expected to IPO. Doing this well subscribed nude gay thing to be the biggest IPO history in the world yeah I mean effectively you are it is. It is an IPO. For the most crucial commodity in human history and like you you you think about it that is what you are buying you warm you're effectively buying. Oil that that's what you're buying when you're by Saudi Iran your while also buying refining capability right but it is it is it is these has historically been the swing produced a year you were buying the price of oil effectively. If you buy shares in that company. And what they're trying to do that the meetings with rustic kind of have yet to different purposes the first. Is I do think that Saudi Arabia. When things they do want to try to do over this time is to weaken the US dollar somewhat because if you weaken the dollar oil goes up in dollar denominated terms in all the sun Saudi Arabia has more dollars. Good thing for them. Okay. The other thing that I think that there they're looking at with this is I do think that they have some questions as to the nature of the relationship with the US in the long. And so I do think they're kind of saying okay how do we want to set ourselves up heading into the next 25 years net that is saying look we've been you know. Obviously strongly. You know associated with the US for the last forty years going back to the early 19070 what businesses do their relationship with. It's certainly impacts in in a negative way. You know eight is it definitely weakens it because the big agreement Louisiana new boyfriend after that the way that. The US tried to support the dollar after Nixon took us off the gold standard. Was with the Petro dollars and look where they came to an agreement with Saudi Arabia and any barrels of oil the trade you're gonna trade oh billion dollars and and that meant that everyone around the world had to go and buy US dollars. If all of a sudden you're saying hey were open to kind of doing this you know we can do is and rubles we want to do this in something else are any changes in trading of energy in four current China start the sets and things up there and so how they do it. Its currency Eric I'd rather use the US dollar so China is doing some pretty fascinating things that are allowing you to trade. It's it to effectively buy and sell oil in China using the the lawn and then settle in your own currency whatever currency choose which is what kind of that's that's dangerous for them it's dangerous for them but it also if you're someone says look I don't wanna take currency risk. You just sloppy and off to China. How long can do that and that's that they're gonna lose their shirt. It would be an interview with the idea and as a trader I'd I would figure that out pretty you would think but China has been pretty good with her with you know currency issues over the last couple decades like they're they're pretty they're saying you can trading Euro currency is like effectively. It's making it it definitely had some concern there. For them and to be honest China has all kinds of problems on a debt level currency level any ways that are likely to rear their head the next five to seven years of who knows how long it lasts. But that's what they're trying to. The Amazon allow lottery continues what city in North America is gonna win Amazon there's actually rumors that they might go to Europe anyway. When we come back we'll talk about the three or four locations in Boston. Where Amazon could build their second headquarters next from the financial exchange radio network. Trumps administration hasn't passed any significant legislation yet but tax reform is front and center fast and share. 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 network. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from pro ready to. And in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's. And it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come legally exchange show dot com. 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 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 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 its leader bank dot com leader bank a step ahead. For your Medicaid income trusts. Todd you know I keep reading. Almost on a weekly basis about stories worst states are challenging. Durable global trusts and Medicaid applications. What's up with the increased scrutiny on these trusts. Yeah the problem is that you know many more and more people maybe are trying to draft him more more lawyers are trying to get into the field to get that maybe aren't ready though that the safest way to say it and and they're putting paragraphs and it that just caused problems if you if you wanna put it in the English causes a crack in the ice yup and allows them to reach in and you know grab those assets from the trust and it's that backed aircraft that causes the problem and so they're starting to realize that rather just put states are true yeah. States are saying you know we're gonna we're gonna take a closer look at every one of these trusts and see if there's a way that we can find a crack and that it's well makes sense now. Whipped eight would have been. What's the result if you lose if you go to a fair hearing you lose what happens while if you were to lose that the assets basically the assets in the trust that you might have told your clients are going to be protected from the nursing home. Are no longer protected they would be considered accountable assets. And exposed to the cost of nursing home care so it's a big deal. It is a bigot if you lose it's all about drafting Jerry it's all about making sure you put the right paragraphs in the trust. Folks if you have a Medicaid income trust you may want to have it reviewed to make sure that your assets are in fact protected. He can reach out Cushing handled by calling them at 8668485699. If you wanna copy. Of the October guy it's about Medicaid income trusts. Most of you choose to download the guide from their website which is legal exchange showed dot com legal exchange showed dot com for your copy of Medicaid income trusts. The financial exchange for Barry and judges live on FaceBook and YouTube every morning beginning at ten days is the financial exchange radio network. The financial exchanges live across doing good every day but if you can't hear us alive from ten to noon. Download the I heart radio app on your phone or tablet and follow us when you're able to search for the financial exchange and you can hear individual segments. Or full shows when you want them right on the I heart radio laugh. Let's talk a little bit about. Amazon will before we do that they want us to talk about it absolutely we will have problems. I would but I wanna talk about Netflix again. Because I get all kinds agreed on the text line and my FaceBook page I'm gonna cancel my account flyers ice a boost to those of you who receive an camps here count right I'd. I greet you with some skepticism. Does the stock is up eight bucks. Right now I'm looking at the stocks and and the volume is through the roof they've already traded more shares today right it would times 1050. An hour and an hour twenty minutes in trading the party traded more than they typically do a seven hour trading so I understand you're gonna cancel your account and you never gonna watch Netflix again because there Communist organization you hate them Bubba but I don't care. When I'm telling you. Is when all efforts compounds and investment Canada. That it's. The Netflix shares or eight dollars on the news I'm not cancel my account has my kids would like you know revolt. Actually I should maybe step. Assists for. It never word to watch it doctor Leonard has led on this I would go to that you like I did just go to that to account owners make it I played it out just like watch the angry text messages go back and then and then any time the the they blocked me out August I'll change the password anyway. The this stock is up the box change the past little until the ones you like at the moment. My daughter shot contest my daughter's still locked out of my Netflix actually yet you became a matter could change every month who gets acts as best doesn't have been nice to you absent today who cup dialogue. Well I need somebody to help with the Natalie netbooks out pricing power you've got personal lines I got this all of them actually. When I think about my Netflix account it's always like maxed out all five accounts or are used. And I'm I'm gotten a heck of a board. My average cost is like three bucks a month the man with the pricing yet think that the about what the average person pays for all the content they want to paying a 15200. Dollars a month you're paying. 1215. Now with fort fourteen yeah fourteen lake. We don't get higher than it is oh it's gonna go to fifteen eventually so the price points her going to be. And let's forget the first you don't resist it's going to be EO let on and forget eating in eleven of fourteen think. Where's Amazon don't win if if they come to Boston. And I I don't have any inside information here he went GE came yes I predicted that they told you days here coming in knows right I do not have. Similar inside information as a relates to Amazon. So where could the ego if they eat if in in a best case scenario what are the options for. So the the preferred location that Boston is pushing. He is self doubts. 161 acres you've got to T stops out there than colonias space there's not a whole lot that's going on so it's it's it's easy to develop land. So I think Boston is pushing that they're also talking about a couple other areas I mentioned one and Alston that they're considering doing yard I thought that revered site though was bad from the commutations. Not not like. If I was an epic criticism sooner it's it's bad in that it's only on the blew him. In the Blue Line doesn't really connect particularly well to the other lines so rants that number one Revere is that you think that's the kind of lead dog I think that's the leader in the clubhouse right. To you've got beat you yards and Alston okay which prevent big undeveloped you know former rail yards and things like that and how much land is that I don't know exactly how much space is there I don't think it's quite as bigots as Suffolk downs we need 150 acres it's. Let's see and after this for a 1015150. I don't know exactly how much spaces they said. We debt circle in South Boston in the problem and it's objected that it did beacon on the the Austin does that actually pretty good location. It from a community standpoint the only tickle concede exactly what you've got so it's yeah I'd be can yards you're not familiar with what it is it's pretty much right after. Bennett told what was formally exit eighteen that tollbooth where everything used to back up the austerity poll. Thank goodness they took all that there's a big rail yards there. It's on the commuter rail which is nice and you've got that access to get access to it for metro west it's within walking distance of multiple green line T stops I say if that ever happened. Boston becomes. A MBTA city. So here's either hit add that much and and expect people to drive here's the thing I don't know if that space is as being you know. It's it's a little bit restrictive so maybe a better location but that's not enough space on one side you've got the Mass Pike which is movement okay. On the other side you've got right now which you know beacon street effectively which isn't going anywhere so the you year old little tied up there as far as the amount of space and but there's also a lot of other things that gunning down that way that Boston landing area that's now get gonna have the Bruins practice facility in the celtics' practice facility him. That's you know right down the street there's so you've you've got some options in some things that too there. The next one is would get circle I hope I pronounced that right because I don't know where is that it's pronounced. That's in South Boston and that's nets forget that you can't get there yet that this is down to Ward's. Kind of the border of the south then it's kind of like the Boston Globe building it down like in that area out. Nate ticket yet what's it's a little bit more challenging to get to fourth one the fourth one is they're talking about a cluster of properties around south station I don't know how the heck you do anything around south station and a but I I Tate there's no space the ones I like that you mentioned. Reveres OK I I tell you that. Brighton location also one's interest. And the other thing that's nice you already have an awful lot of young people that live out that area and you got a lot of community a lot of commutation yet you've got a rail system yet and he you have both commuter rail access and you've got the Green Line right now could build housing nearby. You can do an awful lot they're still there from the north the south the west. Yeah right that'll make sense it was on Smart they should on this you know five years ago they could take it over South Boston got whatever they want South Boston does they could it be that they could add nutrients you built in you can't get there. From Newbury port they're gonna have to get its. Massacre and to you know get through that you don't delete Tuesday to get there to work on thirst. Pretty much accurate actually other they're gonna have to deal with something in south. Austin I I think that'll Alston Brighton location appeals to one's interesting and that pricing hasn't gotten so there yet either. No and walkways value looking eat compared to summer summer or pricing was higher nutty. In terms of what's happened in that also brightens liberals got in on the table to end. Jot your forgetting. They're right on the doorstep of MIT. And Harvard Harvard got a huge Kampala. Nerds who cares about nerds. Who would like Harvard nerves. Dow's up 34 points for folks in the waxy crude oil price crude to fifty dollars and ninety cent it's very good job. From the financial exchange treaty and. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors in court due to Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender an MLS and her 449250. Subject credit approval leader bank a step ahead. 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 NC equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead and he spent the last thirty year forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do. Have you done about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients in all six New England states and offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com securities offered to securities America incorporated member and SIPC. An investor's guide to retirement planning it's really important that you do this before you retire. When I talked about two things that are critical aspects of retirement. And that would be Social Security first and secondly Medicare is your Medicare supplement programs in your Medicare part B program. You know let's talk a little bit about Social Security everyone knows that you've been paying in these programs really for most your lives if you've been working. But there are a lot of questions about when you should take Social Security in the first thing that you need to understand is a concept called full retirement age and that age differs depending on when you were born as an example. If you were born in 1942. Your sports harmony ages 65 years and ten months you're born in 57 it's 66 years in six months so you have to understand this as well as how your Social Security amount changes based on how long you wait. Right the other thing that you should do is take a look at our guide taking again at stake in the guide for retirement readiness exclusively available from Armstrong advisory group. But as it relates to Medicare. Each state we've listed on the in the guide each state and the website that you go to for each state to calculate your Medicare program in which what's best for you. Yet differs depending on the different states and you really need to be cognizant of this when you're building your retirement plan. Well the folks again. Just to reiterate this guide is available exclusively from our strong advisory group it's called an investor's guide to retirement. Readiness. You can receive the guide by going to our web site. Armstrong advisory group dot com only available online Armstrong advisory group dot com. Go to now Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buyer gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader -- 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. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from pro ready to. And in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's keep a partner with the law firm of Cushing in dole and host of the legal exchange radio program has been hoping listeners like you for thirty plus years he knows how to prepare your trust -- keep your assets safe this month and has written a brand new guide called designing the perfect income only irrevocable trust in it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed dot com legal exchange show dot com. Your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing an 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 for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject credit 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 -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader -- dot com right now -- leader bank dot com -- -- a step ahead. And. This is the financial exchange with Barry Armstrong and shut itself down. You're exclusive look at business and financial news of I think your day you're sick leave your world and stay informed and up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with Berry Armstrong and chuck son. Well the cost of health insurance itself we talked about all the time registers that premium noticed comes in and they tell you pay your premiums are going up 6% and that you wouldn't get that deal in your stomach every October real good yeah. What's it going to be well and you look at your paycheck right you guys just a either you pay stubs today try not to doing William look at the darn thing out of expense that comes out your paycheck every couple weeks right up. And three or bring it up. That reason I'm bringing up the cost of health care is. As docket this this exact kind of impact that many people. But. The state health and connector is warning this is all states but this is going to be in New Hampshire mean. Rhode Island Connecticut Vermont and of course Massachusetts. They're suggesting. That premium increases are going to be quite dramatic even if they get their federal funding there's no guarantee that they will. Again read. That's a juicy point 7% now it ain't so. If you're mass resident and I abs I apologize for not having Connecticut Rhode Island but he assume any it's reasonable to assume that your premiums are gonna go up if you live in Rhode islander do you live in Connecticut. And Euro on obamacare right they made this that's who worked referring to here right Obama care. Yet that that's what you're looking at and so in some states the the insurance commissioner in Georgia is saying. That the rates if these subsidies do not come through could be as much as 57%. Higher in Georgia than they are and people are going to be. Mad as hell that the issue though is this not many people make in Massachusetts were population of you know seven million people in it's only 80000 residents who are on Obama here. So I wonder. Days either problem is if you're among that 80000 is right in your urgent plea yet and if you're in Georgia. In Europe Georgia my gosh it's got to be a lot more than 80000 cadets were state. My guess is George Utley gets on to. Population in Georgia it's greater than massachusetts' thing. So on and aghast drawer of the population is ten point 31 million compared to about seven in math but it's a poor and ignorant state. Education lines. And I'm gonna guess that they've got double the number of people on Obama care. And is so let's take a look so I've got all the data on Paula who's enrolled in these plans. So actually I have so this interesting this is data that's coming from the Kaiser family found. And it's a little different than what we had from Massachusetts is actually shown that in mass. There are 266000. People on the individual marketplace okay right on the receiving obamacare subsidy on the individual market OK but 80000 mass residents again the subsidies in there the rhetoric yet again. Guess they're the ones that are impacted most so let's assume. Georgia there are about 500000 people in the marketplace is a poor states he could probably make the assumption it's around 250 to 300000 people that are getting so. Skis in Georgia so my point here folks and and you know every and he did I and my point is that. We still have Obama care. The difference differences in the issues going to be whether the federal government chooses to fund those subsidies now if you're not among the 80000. Right like not the three of us are not among that he as a group right so worst worst there's a dull fund. Lightly your use of my federal tax dollars fund health insurance for the poor don't do that. But if you're among that 80000. You're saying hey. I need that money because I can't afford it it's already expensive and now you're gonna make it 24%. More expensive if the trump administration doesn't fund. Well in the unity that you run into those all of a sudden you get people whose backing out in a potentially creates a spiral lower cost continue to go up is helping people backed out is it's too expensive for them and and it. It turns into were real issue now. As cost continues spiral. And I'm gonna go out on a limb here and I'm gonna say. That the trump administration will fund. And I think the reason they'll fund it is they recognize. That. Paul Ryan lied to them Paul Ryan liked all of us he said we've got a better plane Donald Trump said we've got a better place and we we've got a better health insurance plan. I think that funny because otherwise they're to blame of premiums go all that much to otherwise it's right now premiums just keep going up in the keep funding and they can say okay it's you know it's not our fault this is they're threatening might not fund if they don't fund it. That's like that's their choice and like how how are they not responsible. Now Lou he think happened do you think if they're gonna funded via the of the. Dot like to always know a lot of don't know I don't know talked about not but I've heard a lot of talk about a lot of things they're gonna phone it. Best buy getting into a business that I think is brilliant and I don't know if you have elderly parents or not but I talked a lot. In their 96 year old mother. Lives independently. In Winchester Massachusetts. Awhile and I think this. Product that's being offered by best buy is terrific and I I tell you what if I had in ninety sectoral mother I would pay for us. What do you like about what what is what here's it's a it's a remote. Product that allows you to monitor. Your parents. Across the country so like my parents live in Phoenix Arizona. Talking years both live locally. But they're not like right next door rate the that he Jiaka and a new twenty minutes or so ten steps away you know the problem is you guys don't have parents that are how do you grandparents that are alive. And it might my grandfather's 98 OK and does he live independently yes okay so what chuck could do. For his ninety year old grandfather who lives that's impressive. It is it's very president although it's completely distorted my respect tire engine Italian heritage and voila pasta Italians it. You know it is it's the olive oil and tomatoes anyway. I digress works great people to best buy will come into your home. And they'll install. A package. Of technology. In and I hope I'm describing that he knew correct me if I'm not. The needle and allow shock to monitor. Whether his that his grandfather got a bad back. It would allow chuck to monitor whether his grandfather took a fall seat that's what happens usually would would it Indy yes I know I can hear now. I don't want it's an invasion of my privacy. You know when you're ninety years old you don't care that much. Is a privacy issue I'd see kind of more as you know is it the service that late. If you want to do this for your grip on what I've I W I think about it a bomb with your dad but it requires. Someone to be able to monitor. Well what would it allows your this is your dad's father and yes so little out your father who lives. In North Carolina where's your granddad splits time between Maine and Florida he still commuting between me and for 98. Us. And it it impressive it is it is impressive. Anyway he would allow your father from North Carolina who doesn't live within 500 miles of his dad. To check on an all day every day if you wanna do you do permissible on the text and CPB and and best buy has this technologies like thirty bucks a business camera. It's it's more than it's like it's a centimeters couple camera systems and they both stated actors on their talk the other talking about role Ellie motion detectors and things like that. Nike ID I got I'm not the target audience so ear I eat I don't know if if this is something that I would use I would argue if you're you were responsible for your grandpa use your mama batter at a picture you're solely responsible for your grandpa. We heard out of an iPhone. It maybe it's because I I'll tell you stories go with the two leaves all the time and I tell your story. My grandmother. Lived in little town called we burn diskette to cash if you look at wavered diskette to and it's in in the middle of Saskatchewan. And more he heard dogs and people and and she took a fall gain in the bathtub. And were it not for my mom who traveled across the country to visitor. It happened to be there on the day Hewitt died in that. Point and that happens chuck. All the time they were seniors take a fall and there's nobody knows and he'll be on the ground for yeah they are serious story pop up in Libya and you'll be down like a father of the basement stairs driveway in the winter icy driveway at in this technology it's offered exclusively by best buy. Right the geeks and Geek Squad out to your repair your grandfather's house. They install it they teach you how to use it and they charge of thirty bucks a month keep an eye. And in your opinion and I'm not the tart I thought I saw at JC don't participate you're not allowed I just telling you. As somebody who. As dale would geriatric situations. Not everybody can afford to go into assisted living if you wanna go into assisted living like cure. It will we've got a bunch of them around here is a place called north deal that's new year hopeless now is it there in every community it but that's expensive and a lot of people including trips grandfather who's ninety years old living independently. Doesn't want to. There's some reason he could've. Live in an assisted living in Italy anyone doing anything for us now you know in the in your dad a grandfather probably told this group on gonna stay out of I would imagine. Probably and in time harsher words in attack party and immigrant is your grandfather and know my great grandfather was my my grandfather was born in the Bronx. Just leave it for a minute to better apartment with the kids I am I disappointed. That you two millennial and it's can't understand the importance of this type of technology you know it is Europe parents are still very capable. Your mom and dad talker. Are still working in and active and chuck your mom and dad are still working act drew but you deal with somebody you get to that point. We you're dealing with somebody. Who is who you're having that conversation insane G. Grow pot maybe you should be in assisted living the biggest obstacle for is for vendors agreed to it. Yeah that's the biggest Austria you're probably right your problem Rick is they're gonna look at it a lot of it that's actually one. It's. When did the things that pushed back but. Ye it's it it's a conversation you need to have a heck of lot cheaper than assisted living. And it will allow couples and seniors in geriatrics and I'm not talking about. You know people that are in the seventies I'm talking about people there in their eighties and your ninety year old grandfather I think is appropriate. And best buy has. The way to get around that talkers maybe take my house for an afternoon watch movies in any of the Geek Squad to mineral Oregon. There's another storm headed towards the Gulf Coast will be talking about that when we exchange we've returned to the funny torched injury and it worked. Markets 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. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- -- advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both are hiatus and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which -- become accustomed if you're interested in talking with us please call me at 803934. Zeros -- one that's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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 in a democratic rating of 700 and give you an answer within ten days of receiving your completed application. This is the number you need to call 8776917900. That's 8776917900. Take advantage of this great offer from leader bank a four year fixed rate loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and you'll hear from them within ten days of receiving your application at 8776917900. Call right now 8776917900. Member FDIC. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. 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 -- 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 no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't Dele log on to leader bank dot com get all the information about this great offer and sign up today 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. The financial exchanges live on FaceBook and YouTube watch Barry and Joseph discuss the issues of the day and see which one smiles the most. Days who's the financial exchange radio network. Hey don't forget you can earn enough to point 05%. Annual percentage yield on belts is up to 50000. Dollars this product is available exclusively. From leader bank does that leader bank dot com or call them to all free at 8776917900. We're joined now. Now by Mary Jordan from the Washington Post. She wrote an article talking about how the face of retirement is changing primary welcome to the show. I good morning good morning what percentage. Of Americans over the age of 65 are working today and how does this compare to previous generations. Well it's going up op opt and now almost one in five. Almost one in five people over the age of 65 are working and many of them. You are in their seven days is not like your 66 or you're 67 or 69 but the receivers think 77 year old that even people there AD. And again it's not yes and if people are working as they want to do men many others are working because they need to do. No IE I I agree and I see it on on a pretty frequent basis why. The the gist of your article is that retire Reid finances are just retiree but 55 plus finances. Are a mess why why are the people over 55 in such a mess financially. I think Americans in general don't say that very much. I think it's fairly shocking. This statistic that shows that have. That millions and millions and millions of people even those who have worked for decades. I don't have 400 dollars in the bank. And so when we are looking at people 55 to sixty force that is to people that may be top of mind should be that they're you know they want to. Retired should have a little domestic. Debt. All of those that even had retirement savings but that doesn't even count the many many doubt that. Some of the average total was just around a 100000 dollars. Well not only that you said in your article and I I've heard this before 30% of households. Headed by 55 and older families or people. Have neither pension or retirement savings nothing. Nothing and what why we care about this so much now you know that is that. 101000 baby boomers. Turn 65 every day. And other countries getting older and Social Security. Has been the safety net but it is not doesn't have the buying power used to mainly because health care costs have gone up tests. Well yes and no give the thing that I think you alluded to is in a 25 years ago. Mary everybody had a pension you know like I had a pension when I was working in the early 1990s. When I would retire they said well not only will we give you gold watch will give your pension. That's gone you don't get that any deal. Well there. This fundamental shift has happened and the people. The employer used to give you Jack can you tell your diet you know that traditional pension once you get that check in the mail you'd have to worry and think think up in the diet eating two or India and Africa. This attack was coming until he died. That's cool that's pretty much gone I mean there's some lucky people out there are still have that the basically this shift is now. Taking the burden off the employer and then on to an employee. But the famous for a one K which is named after a line and the tax code and that basically put more of the burden on the employee and for a lot of people they're kind of confused about how to say. Well money is not about every month. Now and I got that Mary and I read I read your article twice it was compelling and and night I applaud your your efforts on it. But at some point doesn't this come down to personal responsibility. You know right we all have friends you've got friends I've got friends in you look at the way they live their life they drive nice cars in the eagle on a lot more nice vacations and I ever did. And they knew it they get to age 55 made nothing saved because they've been blown all their money a B. I I don't look at this is so what being a personal responsibility issue as opposed to well you know the company scrutiny. I I don't I think. Of course it's personal responsibility in the hunt blown all their money they're going to be working. Parent and many many cases yeah we're seeing people. That thought that somehow easy street is gonna happen they're gonna call for gone accrue at a camp that this can't afford it. So it is but I I do think that there is something to be said for the country looking at. How we are handling retirement I mean do we owe more to people who worked all their lives. Whom we don't really understand how to deal with the 401K. I've seen over and over again people just. Don't have money and when they switched jobs you can pick the 401K out by a house that you don't have how you know you need. College education money they're blowing it on net that is the word blowing yet or do they need it. It is it worth looking at. Where we are the country and how we're valuing because when you see people in their eighties kind of scrubbing floors for ten dollar an hour. Is that there are I'm not saying whose fault is that there but it's something we should look at. Yeah no wait there's been a lot of talk about mandatory for all in case right here where you. You you must participate in the retirement plan and locking that money up so you can't access it to pay for college or wedding her house I mean those are ideas I've heard before. You have any favorites that you like. Now I think it is bubbling up Mara. In congress that such a big issue and that if you're elected for two years but kind present not a big Guillen airlifted takeover. And that's why there's no need to be more leadership on the long term issues about how you until the security. That is literally the only social safety net for a third of the the elderly that what are we doing with that as I just think that the current political leadership. There's like a different centers to deal with long term problem then either you know in many ways the most important. I agree Mary thank you very much for your time we appreciate it thank you Mary Jordan Washington Post. I mean there is there a crisis going on beauty you look at. You know you guys don't see yet because you're young in your work in full time that you talk to. Older folks that are you know sixty to eighty years old. They may be fine the ask about their friends of me my wife and I we have friends that haven't saved a penny for their retirement. Yeah I mean I've known for forty years I've I've long been a proponent of moving towards opt out for one case where the second that you sign paperwork to start work with a company. You're automatically enrolled in their retirement plan and you have to choose to opt out rather than choosing to opted all right so what okay that's an idea and I like that what about saying. You can't take the money out to buy a house or pamper credit card. I don't like lack of liquidity. 90 I had just. But EEE you've got this situation brewing now. And it all happened because he used to beat back in the 1980s and those of you who worked in the eighties and even the early nineties you'll remember you had a penchant. Pensions are gone they when we come back we'll talk about this new storm that's gonna hit it sounds like it might hit one of the Gulf Coast city. Let you know which one when they're returned from the financial exchange radio network. You've got Barry Armstrong. Financial exchange shall 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 not guaranteed by the bank and may go down in value leader back a step ahead. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very Armstrong and if you're close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. And in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd looks to be a partner with the law firm of Cushing in Dolan and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month and has written a brand new guide called designing the perfect income only rev a global trust. In it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come up. Legal exchange show dot com. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of -- day with zero 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 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 -- see rent dot meant to learn more or call 7816 or 18691. Very Armstrong here and I'm joined by vice president GA 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 it refining Jane that it's being widely adopted by Condo associations tell everybody was he rented. All right so he rented the product we innovated leader being. Comedy can be found it WWW duds the rent dot net and it's essentially. An online payment technology that allows landlords to collect the rent electronically and it's. So there's several advantages first in saying goodbye to being reliant on the US Postal Service. Goodbye to delays in the mail and no more need for paper check right 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 you Wear this really starts to get funnies when you your landlord and you have. Multiple tenants living in units grad students the university. Well right now they're all writing multiple checks and sending them in and for a landlord that source become confusing pain in the neck so would you Reynolds who has it will actually deputy each tenant can individually matches in 101 team that unit to landlord. And then of course there's reports in notification that electric stuff but going back to your question a 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 do every month it seemed so they've been signing up and there's a version of the rent for Condo. I'll be darned well sounds like a something that you need to learn more about folks visit. Zebra dot net to learn more that's a website address or call them at 8776917900. Toll free 8776917900. Why collect your rent or your Condo fees with paper checks get with the modern age go to easy rent dot net or call them toll free 8776917900. Markets are. But questions remain about whether or correction is coming. We've got you covered every day we've what's not and what's not from Mike Armstrong. Mornings at 1030 only on the financial exchange radio network. I had no idea that we had so many listeners from Georgia tune into the show earlier when we're talking about health care. I referred to Georgia as in ignorant and uneducated state. And I did that I made that statement because. I'd look at statistics that I this is the kind of thing I do in my spare time now let me run through. The the ten dumbest states in the country for if I may now this is seen in the state avoid. But you know you wonder why Puerto Rico tiger makes the fire up the back of tax on it's gonna get a little. Get hot here. Puerto Rico only 73%. Of their population. Graduates from high school now I know Puerto Rico not a state its territory. But you wonder why they're in the fiscal condition they are the a lot of stupid people in the state California. 81 point 8% that's the dumbest state in the country. And I don't think anybody would disagree only 81 point 8% of the population graduates from high school Texas 81 point nine. Mississippi. 82 point three Louisiana. ED 3.4. Kentucky united state. 84 point two New Mexico 84 point two Alabama. Dumb as again. 84 point three Arkansas. 84 point eight. West Virginia 85% Nevada 85 point one George look at you know the dumbest state. Country. Ranked fortieth in terms of high school graduates. And across your possibility he. Here's an interesting question for reasons. What he say about the state of Massachusetts and Connecticut being all at eighteenth and nineteenth highest states as far as high school graduation rates big inner city populations and if you look at there. Population as it relates to college diplomas it's pretty much top and top the number one and number four right. So and as far as advanced degrees it's number one and number two it might my point is. The EU if you have a popular and there were where where you really fall down is when your general population is ignorant and those states Georgia among them. Just they don't invest in education as a decisions or make us a cyborg. Middle of the pack when it comes to bachelors an advanced degree though that's a great university is if you're looking for probably the two worst states when it comes to overall education overall ignorance. Mississippi. And queasy and in neither one ranks higher than 46. Out of any level of educational attainment who also had a conversation Mississippi with and what Mississippi and Louisiana also when the conversation but probably tear down from there are Alabama and Arkansas now west Virginia's probably and that seemed you're actually there 42 in high school graduation rate. But dead last in bachelor and advance. Degree graft and they're also welfare states to note that means means that they are net receivers of federal money that's right meaning New York federal tax dollars new englanders. Is going to create help these dumb states because they don't educate their kids. Pretty accurate they do look like Colin you don't if it's a good state uptight is that the dobbs that a thing of that and I think Georgia you know budget that would. They probably it's coming in is the most educated state when you look at this on an average basis there's there's there's two that are kind atop the masters is good again it's not great high school and replaced it yet a lot of Anderson if you look at kind of the best averages OK there are three states that come in that are all pretty close. Colorado in. Vermont and in New Hampshire new Mercedes. That's that's what it is Colorado has Anderson he's added that it's not. At a Colorado ranks lower on high school but very high on college and post grant him in Vermont you don't have inner cities with lots of slums and housing projects not rural pay to. Colorado on. Hand and a Wii it's cooler we have ho that I know I don't know that that makes you Smart Tucker guys everybody get on the madly school buses can be fun and we from Georgia. So where's this new storm and hit. I'm sorry eight minutes. We will and I need to reset we have and we have a new. In new storm is that a hurricane is troubled it it just got upgraded to a tropical storm we have tropical storm neat that right now is right off the coast of Central America. And pretty much every major model out there with a talk about the Euro remodeled the US GF best modeled in regards of what they are. They're also listening getting pretty close to block new war Owens and okay. We don't know exactly what they need. Right we don't know exactly how bad it's going to be at this point so I can't tell you if it's going to be you know count 12345. The water's warm dating don't know at this point warm water feeds her but it does appear to be on track to make landfall somewhere Ian. The Gulf Coast right now most malls are projecting the war Owens in this would be you know in the next five to six days so will get more information as this gets closer theme is an even fully launched in. Puerto Rico I don't even know how to can have resources to deal with slick there's disparate souls in between Houston Florida and Puerto Rico you're sitting there and your like when it's that I don't know if they can handle. And another weekend. They don't forget during the month of October Armstrong advisory group is giving away an investor's guide to retirement readiness so the things that we answer here is you know basic safety having a state plan. Have you selected beneficiaries for your retirement plans I just did this the other day with my son. Do you understand how taxes will affect you or income during retire it's amazing how many people don't know what they have to pay in taxes once they retire anyway. If you would like a copy of this guide. From Armstrong advisory group is go to their website it's Armstrong advisory group dot com the guide is called. In the investor's guide to retirement readiness. Armstrong advisory group dot com it's only available on line don't make a phone call because there's no number to call. Armstrong advisory group dot com. Securities offered to securities American corporate members 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. You know one of the things that has been keeping oil prices low was good old fashioned American ingenuity. We were able to increase our production of oil despite the fact. That the price had dropped to passionately drop would do is 23 get what does a 2626. Okay. And we kept chugging along but there are signs that our oil production to start slow down. Yeah we seem to be us stagnating a little bit around. Or right around rather nine point five million barrels per day in production we've been right in that range for the last month or so now. The four week moving average just under nine point five million. We've seen about a million extra barrels a day come on line in the last year but up a little trouble breaking through that and I think that part of that is because when you look at the economics of it. At the current prices is not that much other oil that can be developed until. You see prices move higher so I think we're somewhat maxed out based on the pricing that we're seeing in oil markets right now. If you work see prices move up into the 60s65. Range and yet you could definitely see more US production but as far as. Fifty dollar a barrel oil you seem to be in in a pretty good equilibrium in the US as far as production goes will your job be automated. Most Americans still think their jobs will be automated. I guess this is a phenomenal. Piece by the way it's it's you know William joppy automated 70% of Americans say no according to a study by the pew resource. Pew Research Center this reminds me of all the store service that they send out are you an above average driver in 80% say yes. Forward with the other way you Margaret are you Intel are doing mortgage or are you above average intelligence and it's like eight again like 7580%. Say yes I learned many years ago. Singh noted that one you know what's it's always better to learn how I'm currently deliver and he learned now in the hardly. You know. He knew in high school you solid into always better to ask under promise and over deliver you know someone asked if you're Smart. But you know solid all jobs have been out of me and it if you still have that job. But much of it is done. By computer and and in you have so much technology support. It but whether you're in financial services with a year and medicine Whittier and Beatty look at stock exchanges you remember when you first started yeah just remember the new York stock exchanges the CME they were jammed with people yelling out and taking orders by hand every day I've been good buddy of mine who worked as commodities trader. Out in Chicago. All of a sudden you look today. There's no one on the will go and and those worn get close those floors and those were low paying jobs that's not someone make an eight bucks an hour those were good paying jobs you should now they're saying OK I've got stability I've place you know have to go make the markets. Computers figured out how to make the markets for us Richard Richard and his comment forever when I'm telling. Their bid the you know what your job might be replaced you might lose your job as a cashier's on these o's he's a winner bank teller regimen lose your job could be a better job. Pain strain yourself you get a better job pays enormous success threes is Emma Stone Mason I know my job will never be automated. Don't be so sure all all of us are expendable out and in six a three year job may never be automated but how much easier is your job today. Then it was forty years ago. And how much easier could be down you know it's it's a case where the skills like carpenter's right the technology is made a carpenter's job much easier. Poster here electrician thing about it like you're about change in the last hundred years and all of a sudden it doesn't take as many man hours to do things all you don't need as many people in those industry look at construction job sites you know what used to be 500 man site is now fifty minutes. Yeah I think it's it's amazing with technology has done in terms of efficiencies and and unfortunately in many instances job eliminations. Pay up next we'll be joined. By Bridget Carey we have a new phone to talk about and it's not the Apple iPhone eight and it's not the Apple iPhone. Is it X or ten. I called the X discuss apple doesn't look that suits the ten will call the tent anyway where be reviewing. A new phone that's come out that Google nexus phone number I guess it's via the pixel art that's next from the financial exchange radio network. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. 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 yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Member FDIC no minimum Alex fees may reduce earnings raids subject to change without notice and may change after an account is opened. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect your assets from pro ready to. And in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's keep a partner with the law firm of Cushing in dole and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month and has written a brand new guide called designing the perfect income only irrevocable trust in it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guy it is all mine so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come legally exchange show dot com. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the arms drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA is and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot -- securities -- to securities America incorporated -- -- SIPC and advisory services -- -- -- securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities -- companies are unaffiliated if you own rental property you're going to want to hear about this exclusive program offered -- -- -- it's called zero and is designed specifically to help -- receiving and deposit their rent checks electronically as opposed to having to wait for the male co leader bank right now if you are interested -- he -- the number is 8776917900. That's 8776917900. This program will automatically deposit your -- -- into your account that'll help you avoid the hassle of waiting to get a -- many landlords are suggesting that -- and sign -- -- -- -- upon the execution of -- release and why -- -- wanna -- that once -- set -- you never have to make another change during the -- -- he -- -- -- free service if you have an -- -- -- -- and if -- they'll -- cost -- -- small -- three -- -- -- right now -- 8776917900. That's 8776917900. -- -- -- -- -- dot com for more information member FDIC. Security suffered through securities America ain't members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. To vote on our daily poll question had financial exchange showed dot com while you're there fire of the media player and watch the show while you work. This is the financial exchange radio network. Few weeks ago apple announced their latest suite of new phone the iPhone. Yesterday Google was added with the Google pixel two in the pixel to excel and joining us now to talk about that Bridget Carey from CNET bridge thanks for coming on. Bridget what are the biggest things that we learned about pixel to what stood out the most. A camera. And last year but the it is our again this time around. It it as there are groups that rate the quality of cameras. Debris and be. IPhone and and other. Like like Tampa. People really care about camera and after all. What is the now it typically can without. Hitler you know. Maybe you meant that out there and why it buys it at the time. At. Teachers that that was really a shadow he'd get it now well other devices. It. Agree that global life or this ability to have cool accessories that'll work together. How important is wrapped into orbit because there was just found out they were. Seekers and found that aid is in line and each other languages year. So you know. Google currently this is as it goes right now. Phone that is different now but we'll keep it secret. But you have to eat and everything ignition. Go can meet your life he's he's adult. Anyway the battleground is now compared to apple. And Amazon. Kind of the people who has the ones that invested it in the back we need. Do we have any idea what the sales numbers were Bridget for the the first iteration of the pixel phone. Now now merely accurate but that thick about you know but at at least you know I mean. Google work wit with a company HTTP. At a company elegy. Physically make the and that adult Google's software. So they come up with others and in general sort of hot team in the tech world about what hottest apps. It's if iPhone. And galaxy. And entry and also upcoming is. The aid coming in in in the top history if not the answer for. Further one of the things that stood out to me is I look through. You know what would Google was laying out for this now second iteration of the pixel. It is the pricing on at the pricing on the base model for them starts at 649. Dollars and on the biggest one pixel to excel. It goes up to 849. Dollars. It's cheaper than what we see from apple. I'll talk about that passed without a point where Apple's big you know. Tenth anniversary. And even isn't exe. Believe it and Samsung and they were they're pretty high up there but it wasn't that much different. It would amount to a shocking day 900 dollars a thousand dollars per call but these keep in mind the larger models. And that is up from what's already been out there for the price point you know. Innovated kind. A little bit more money in you know if you boost the memory we've been trying to round the range for awhile if you really wanted to. Top line but that's one that that group that is the big advantage here I'd be cheaper than what all those. Top of the line on potential created out. It is it and then. Compared. Hot news it is and the picnic in Russia. If break debate about why it really. I am better than others. When he's available Bridget. I don't know exactly but I do you know that like beer kind of technically on the order. Now out exactly when they're being delivered but it obviously announcement it is commuters within a couple weeks. Very good thank you very much. That is Bridget Carey from CNET talking about the Google pixel to anybody buying these folks we don't know who does break down sales numbers. It's that they've said it's not a major source of revenue for them so I can't imagine it's a huge number of people I hear good reviews you guys know it has. Yeah so has my in my oldest son has gotten an a couple people and they like and now. French kissing thing turn as part of and as I grew came out this two minute video. A how to switch from an iPhone to dismantle too and I watched it this morning and it's they made it look as easy as possible. Two minute video so slow. Maybe they didn't get a new phone now like two years ago that salute and now they just got when I charge my phone like an hour ago and 3889%. What it's ridiculous because they opted into the Iowa salaam. Every time they do and IOS to a stranger batters capture naught now you know among Wi-Fi but you're not happy that you you tweet. I meant Sweden not to reveal that charger in your car. Yeah I didn't I had a capability. I use that now religiously and I know 'cause like all work in the office till. You know noon till 2 o'clock maybe and then I'll go to another office to meet clients. And I now in order to get my phone the last two year old might have to charge on the way to that meeting I can't. It's like you basically what I'm telling idea maybe 67 hours. Don't you let's find out on down. We recently put that thing moments on your phone to track on here come on down to about an hour Dana down from two and a half the beginning I'm here pressed I looked I did that on my phone bill due to what's would you like a more hours today I've what I used only to follow usage on night yet it tracks how many. Hours and minutes you're on your full of on law. Monologue I'm I'm down to around nauert and I do a lot of my research and most of it. Most of it on any given week Dan actually down at 45 minutes what picks me up is that what you do your research because you know all this stuff we have all these stats we need to. He do it on your computer computer. Better in a phase I do most most of my phone I do like an hour and a half two hours on my computer but it that you're if Bynum on the phone is at night if I'm watching the show. This shows are so boring. Yeah my time to lifestyle with a wife. Rate in U wanna keeper happy very happy wife happy life. But it is so if you wanna keep her happy like crap on T. And and. And then you saw you you play well and then they get mad either say you take the legends who make no I'm not a scrap his socks item a much in my file. I'm watching it on though. This remember that I don't I don't even know what just happened that happened had no idea would write this down right down happy wife happy life life. Happy wife happy life. I get from me Dow's up 83 points baby nasdaq's up 26 price of oil's oh dollars a barrel 51048. Barea and chuck. From and it took Adrian.