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12-31-14 Full Show

Dec 31, 2014|

12-31-14 Full Show by The Financial Exchange

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Hi everybody it's very Armstrong from the financial exchange and I'm here to congratulate. Mr. so she'll to leak from liter bank. So shield. You guys are you know are a mid size or small community bank that you were ranked number five. In all of the banks in the commonwealth for small business lending congratulations to union. Hank you very much thank you Betty. Lot of credit goes to you hike him when you're showed two months ago. We docked about these special program leader bank had products mom business Christmas. And because of the idea model business we got that people took advantage of that's my program. We the number at the fifth and I guess that's the it and as you just be very proud. That is part of what my team around my quote team leader creating jobs in a bad lending that money you're creating jobs and your help and motivate the economy. And we act absolutely absolutely we are making contribution to the locally you've done right so we have introduced a new product now. But this year it is 50000 dollars. But if it doesn't have board and help us and if forty alone have we get indeed have been been ten working days would close a lawn. And daddy impaired documentation is required to anybody looking tied at the SBA loan. Please contact us to lead a bag or visit our vets like databank dot com would give us a con. There are a leader in small business lending 50000 dollars four year term four and a half percent interest rate their phone numbers toll free 877. 691. 7900. Or visit leader bank dot com get a call their terrific bank and they wanna be your business lending partner. 8776917900. Leader bank dot com did you know that there are ten easy ways to get more money out of Social Security one method to get more is to collect twice hello everybody very Armstrong from the financial exchange dual earning couples can collect first as a spouse and then again later based on their own working record for example a woman could collector spousal benefits at age 66 and then she could claim again at age seventy based on her own working record high earning couples benefit the most from the strategy according to the center for retirement research at Boston College we have a free report that will teach you. Ten methods of getting more out of Social Security 8668106422. That phone number is 866810642. To get all that you're entitled to from Social Security call now 8668106422. Securities offered through securities America ink member of an SIPC in advisory services operative securities America advisors and Kerry am's Don representative Armstrong advisory group in the securities America companies are unaffiliated I'm going to gross. Into the law. Can they. The basketball. Yet wherever you're going the quality gasoline and ExxonMobil stations of the energy behind your journeys they helped engines run smoother and help improve fuel economy to. ExxonMobil energy lives here and Exxon Docomo mobile look comfort details. There's your basement or crawl space have adapt musty smell. Well watch out that's a sign of too much moisture and not enough ventilation and that can mean increased mold growth and the buildup of harmful toxins and gases don't bother with the 1888964. Way bets 1888964. WD VD. Today is senior citizen has a one in four chance of spending time in a nursing home will you be one of them what would you do with your spouse didn't have enough money to live on because you're in a nursing home in depleting your assets by more than 101000 dollars each month think about it how long -- your money last if you had to write checks like that each month how would you feel if there was something that you could have done to protect your spouse but you failed to act don't put off protecting your loved ones any longer call our office right now to request are bringing new guide. That we'll teach you how to creating a state plan that will not only protect your assets from nursing home. But also help your family avoid probate keep your money in your bloodline. And potentially eliminate estate taxes. 8668485699. The law firm of Cushing in Dolan has been a valuable resource to thousands of families for the past thirty years it's time you found out how they can help you. 8668485699. 8668485699. I. Orleans hold on your checkbooks and give your portfolio and break. It's time for the financial exchange with Barry Armstrong in Kim Keller again from Wall Street to your street Berrian Kim you colored -- the financial exchange with Barry Armstrong and Jim Carrey again. Hello everyone and welcome to the financial exchanges this is. New Year's Eve edition I'm telling exchange and it sure is terrific at you with us today and can Kerry and techs on is with me today theories doing a couple of weeks off. And a happy new year reference happy new year to US Deborah Platt and you know a real big New Year's Eve person to be perfectly honest I got. So I'm at the last minute turned out my kids which I was shocked don't have really big plan. That are less than yesterday. All the newspapers and got us at dinner reservation performance at. 630 tonight or not then sort of have a little dinner and went back home in my older one decides he's got some plans it'll still have. Time for him and went out and it. Not too bad you allow an immediate troll around the city got a couple friends Edison New Year's parties and things like that so. Doesn't have nothing to do big cannon. I don't get too excited by news that it's good data kind of go out and have a little while but I I don't not one of those who says. I view of the craziest thing in my life to right to have. Other days to do those well I was feel exactly just that now that you know you get people. Who do things on New Year's see that they wouldn't do the other 364. Nights of the year. Which is a little bit crazy and if I think it's ridiculous when you go to these restaurants. They have all the sad news whatever and you pay a fortune. For really crappy food Alia that you could've gone the next night or last night and would have had a whole lot better dinner or that. The other one and I've never understood is if you go out to like a bar or something and they have like an eighty dollar cover charge just so that you get into a bar that's more crowded than it usually is to pay drinks that are twice as much as they usually are. So by the end of the night nearly 250 dollars. Asia there you go on. On a debt of I was a I was pretty much and cattle car yup exactly it's hours but it was the best time in my life now it was the best time ever him. A well whatever you're doing to Idaho that are pretty safe and you know I I heard this morning that Cooper anticipates. That they're gonna have two billion writers. In Boston where Justin Jan in OK okay two million writers and the price is going to be in most places tonight. If you don't want what they're trying to get this past but the Gail Weaver. So they'll. Primarily be based on the volume Oca. And apparently I had and I didn't and I didn't get the whole story so I apologize Irwin but it's worth mentioning anyway. So they're very high volume eight looper had. They're the recently to recede from the Hoover car. They would five men miles and paid 250 dollars oops. Prosper and mr. So anything can maneuver car if you really need it right because you don't need to be behind the wheel Soviet but it view it that way I'm I'm going to be walking as much as possible. So good good for you do anything exercise you know keeps me keeps moving keeps me warm it's your metabolism. Elements in some ways that's good break its metabolism moving while moving through it pretty good show for you this morning folks coming up just few minutes we're gonna talk with. Burt white pizza chief investment officer for. LPL financial he's gonna talk to us predictions for 2015. And also courses are final stop segment of the year and it from CNN money is gonna come in and talked to a about a Psycho. I don't drink a lot of Sacco I entered a lot of champagne but I mean it's New Year's rates and maybe answer as you get the spears if things to the outfield and he you know it used to be. That people would look at percent they turn their nose at its annual that's just like cheap you know that support me in Champaign but yeah that. Attitude has changed dramatically. And now we're gonna find out why in and whether this might be good alternative for you tonight. As you celebrate 2015 coming in which about jobless claims were quickly here we got the day earlier than normal that of course being the holiday. Jobless claims were up 171000. This last week 298. Still very good numbers as we see below 350 were great shape but the interesting thing about this chuck. Is that we're gonna have to really watch this trend after the new year and a lot of that has to do with the energy sector. I actually got some. Some statistics this morning. And give you an example. This company called sitio. Which I'm familiar with that. Sitio is a company that deliver home heating oil and they gave out a thousand pink slips this week. Yep and it's it's I think you're gonna continue to see. Layoffs in that sector just Halliburton you're starting to see them creep up now and I think the next few months you're gonna have these companies that are trying to get lean to manage their cash flow over the next to her months and I think that you're going to see layoffs in some of those sectors as well as associated sectors you know companies right it may may god drilling equipment they serve like that that may manufacture parts for drilling equipment. Those are gonna be the places that are affected as well so they're definitely industries in the US that are going to be negatively impacted by the low. Prices. I don't think any of us is ever sugarcoat it decimating and we all recognize that what's good for some may not be so great for others but that's that's the way the economy works sort of again with with anything if you eat you can talk but does not mean yeah I mean this example yesterday. If it's if stock prices go down investment advisors have to get better with their firm so there. There's always something that you know a firm has to do in order to try to manage expectations and manage cash flow. And that is what this industry asked to do right now. And you know I think when you look at this again for the vast majority of people in the US this is going to be a net positive but it's obviously going to be short term struggle. For people in the energy. Pitcher should a look at the markets right now we're in positive territory looks like we're probably gonna close 2014. Off with a positive day in fact were over eighteen. Thousand we'll see 181000 we'll see if it stays there on the Dow and we actually close out the year there which would. Be roku for a lot of traders having said that let's talk about how the markets are down overall in the year 2014. The Dow as of today is trading up 9%. As over a year ago. S&P 500 up 13%. And the NASDAQ has rallied in 2014. And as of today comparing it to a year ago it's up 14%. Yeah it's it's a market that I think a lot of people came into. 2014 myself included being a little bit cautious saying okay we had this big year where we did 33% on the S&P back right when he thirteen. And a lot of people payments at okay. Probably expecting modest returns maybe in the 68% range. And we've actually come out a little bit ahead of that I don't think you know you don't have a market that still racing forward at twenty or 30% but low double digit still very good year for the market overall. And now as we turn into next year. The big questions that really need to be answered are ones that are domestic at this point their questions about international or if you look at China. Brazil. Europe and then obviously rush at there's kind of doing their own thing and and their own great Havoc and not going well and general they have not gone one dollar and of course you also have with low oil prices UF questions about some of these regimes that are dependent on oil. Four revenues places like Venezuela Saudi Arabia until until it's gonna be very interesting to see if they do anything to adapt as this continues we'll looking. At the US stock market analysts are predicting for 2015. On average we're gonna see about an 8% increase in the day. That's a book that now can I can Pentagon's don't we hope that's right wouldn't that be nice if they were just always right. Well they have been right for quite some time although I think a lot of people keep saying where's that correction where's that corrections it. Not a lot of people saying that today about what's coming up in the next year. Now and I think look when you look out over the next year the US economy at this point. Is about as stable as it has been in the last five years and the big thing is still waiting on we've been waiting on it the whole time. Wage growth is it going to happen you finally have conditions where unemployment is to a point where you may start to see that. For the middle class that is largely been left out of any type of meaningful wage. Sure well speaking of wage growth which are about this yesterday that we didn't talk about it specifically. Pointed toward Massachusetts 21 states will be raising minimum wage overnight. Massachusetts being one of those minimum wage going up one dollar here in Massachusetts. To nine dollars an hour. This is a progressive. Increase will have another increase next year. And I am that means that. An estimated 280000. Massachusetts workers. And that includes 28000. In the city of Boston will be getting a pay raise tomorrow. And you know I'd for a lot of people this is gonna make. Not a huge difference but it's certainly gonna make a difference in their lives. Well it well I think again the biggest thing I always come back to with regards to minimum wage jobs is that. If you really want to make more than in a minimum wage job you need to develop skills to get out of that show and they're not made to be permanent or long term positions and I know that for a lot of folks especially if they're in those jobs it's very difficult to farm whether it's that time more than energy. Two of them go out and fine you know to developers guilt because a lot of folks in those jobs might be working two or three of them in order to make ends meet the guy kids at home that kind of thing. But the most important thing overall is going to be skill development so that you can move out of those jobs to get new people you know we get young kids into the workforce than to develop their skills and continue to keep things moving there. Well what took the navy that dollar an hour while not very much might help some of those people I think it's it's certainly well it's certainly you know mitnick beaches that extra amount your pocket that you could. Help to have a baby sitter for a little bit longer and to ditch one of those extra jobs and you keep teaching courses are. Something like that and and some we hope this in the over the positive direction for people who are looking again yeah. One final thing before we go to the break teach you how crazy this weather and I mean 2014 years and we go to different yet it's gonna close out we're all gonna remember that December was you know one of the wettest. One of the coldest certainly not on the snowy is still on average drink about now. Here in New England we have about nine inches of snow and we have had less than the. The best maybe an interest in right now that one little I only because storm that right ousting that we got I think a couple immediately know venture pumping. Well last week on Christmas Day we were walking on the beach which is absolutely crazy this morning. It was in the twenties when I left the house or surfing. I was not serve although can tell you there were people surfing on Christmas Day. Well I I get a good buddies got a wet suit is talking about going out today absolutely it infects more surfers at this time a year that there are. In the summer months when it's warm up as the waters it was a her. But what I just think it's so interesting. Is that some of the play places here in the country where you don't anticipate it's going to be called. They are they are going to be wringing New Year's the new year in. In a lot of cities including Las Vegas. They normally do not get below I don't know 4550 degrees you know Vegas to get some cold night this week actually Kia I've been in Vegas in January when it was pretty chilly but they are anticipating snow tonight. And you're going to have a wait years. We need less confetti you've got you the snowfall anywhere as I mean it might actually leave the city some money I think. Personally I think that's what I'm doing very doing Vegas is kinda it is one of those things and a lot of people do but these are their and it snowed on that's something a little differently that it was an experience there's so there. Take a break everybody when we come back we're going to be chatting about the forecasts for 2050. Barry Armstrong and comparative. Right here on the financial exchange radio network. Are you thinking about transferring your home to your children in order to protect it from the nursing home. Did you know that if you do you put it at risk for your children's creditors including future divorces. You really wanna write a check to your former son or daughter and not just to buy the Acura own home. Not only does transferring put your home and rest it can also create a huge capital gains tax when they salad. Right now the federal capital gains tax can be as high as 23 point 8%. And that's in addition to your state taxes. There are better ways to own your real estate Beckham protected from the nursing home. Keep it away from your children's creditors avoid probate and not cause unnecessary estate taxes. Top up scheme a lot from at Cushing and Elena put together three new guide to their risks and rewards of real estate ownership. This free guide will show you the best read on your real estate. Com now for your copy at 8668485699. At 8668485699. Investors searching for relatively low risk investments that can easily be converted into cash often turn to certificates of deposits or CDs leader bank is currently offering an eighteen month CD with a impressive. One point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent AP why call 8776917. 900 today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more with the bank a step ahead minimum deposit to open and current annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including iris penalty which may reduce earnings. Rates subject to change without notice member FDIC rate effective November 4 2014 this is Barrett strong and I'm joined today by estate planning attorney Todd what's key from the law firm Cushing in Dolan. It's time for your legal exchange quick tip of the day were talking today. About the different ways that you can own rules state and taught I want to ask you this one. What are the implications of transfer your whole C just take your home and you give it to your children. In order to protect it from the nursing my ex he had somebody asked me this yesterday sixty years old. In the heard about this thing transferring music like this yeah. Kind of makes my teeth itch. Really you know GAAP putting your kid's name on anything while you're living is frightening with or without the light for states a year question was interesting it was. At least using a life estate does provide the parent the right to live there that some protection I I feel better about that. But I really don't like having the children's name. On any property. For the following reasons one when you do that it's a completed gift to you've lost all control over you don't own it anymore. I worry about if the kids go through a divorce and ex son in law the ex daughter and when your house like. Number three is it viewed not only do not only you've now subjective and as you just said Barry took their creditors and president. Necessarily have to be divorced as he could be a lawsuit business failure anything. Could be any creditor so the you know basically that creditor has the ability to get the ascent to pay them back which means you lose your home I certainly don't like that idea not to mention there's also a tremendous amount of tax problems associated with doing that so don't. Don't do that. Ari I have got some advice for you learn the best way to old and protect your home your vacation home in your rental property. Call for Cushing and old brand new guide to the risks and rewards of real estate ownership 8668485699. That's. 8668. Rory. 5699. The guide will teach you all about the risks and rewards of real estate ownership. Toll free 8668485699. All the best in business is right here Barry on the stroke and can carry him. On the financial exchange radio network. But about every one of the financial exchange when I first trivia question of the day these are all. Trivia questions about New Year's Day. Are so I'm in this on you chuck has again if you need to audience to this what can meet. Meet in eighteen liked me a cut will bring bad line. If you eat it on new years eat pork. Is actually two there's two yes Oca. Now I have always does anyone veggie burgers epic that's probably not a good thing and Turkey burger own. A turns me away from those and use these. 686 shady is our tax number you know and if he can't get too we'll see. If you get one of and that will be great but what meat will bring block if you eat music or indeed as a nut. And go for the good luck. What's is a good look mean. You eat like them on New Year's Day are supposed to eat certain things like black I'd season. Yeah I think so if you don't answer banking give you get atlas now what's. What are the good luck they taste of how good I would be doing in life I've liked and so did you just can't like Black Eyed Peas onetime New Year's I thank you for what the lottery next DA got to get style. Write its basic thing OK are you said are we are we ready I think we we now have Burt white joining us he's the chief investment officer for LPL financial and Bert. I think you for coming on with us today. Happening and I say what I'm never bolt while on a I hear a lot of Bologna on New Year's Eve but I'm not sure I ever eat it right if it. Absolutely so Bert we. The big thing that's been in the news recently a lot of people have been talking about oil prices. And potentially does that show anything as far as a slowdown in growth coming is is that something folks should be concerned about. But certainly grabbed headlines and and expand all that really connect means that the talk helped the market appeared about your recently bit. I think beat underlying trend underneath the decline in oil prices it would really fascinating. I mean out of no where the United States without the world's largest energy. I just don't know where still those elements and up to creep fairly positive dynamic here for the last. The energy Renaissance in the United States is for real look at the number of jobs that are being created. Throughout the country and in human response. Look at the number of folks that. That there are now employed in in areas that are off. Setting up an argument about things like that transportation. How we moving synergy around we're going on trains and that's an odd people. Took the day it is an element of the fact that the concern about global slowdown there is a little bit of concern around places like Europe and Japan and China that are going a little bit. And that translated into. Some pressure on oil prices that that we think if you look underneath system the other reasons I'm really an increase in supply. And who wins and that increases supplies here in the United States and this is why we think it. This is still the best picture and the hamper the put your portfolio and to go out of this thing. So the next big question that's on people's mind everyone's looking at the Federal Reserve Dwyane are they going to start raising rates now that the tapers over. And essentially is the Federal Reserve going to actually be the force that pulls us out of this bull market. Well they almost always are. Peta the other reason they're rising rates is that almost always. Be that catalyst that they sort of put the final nail into double market. Thailand and and pictures of roe. The equity markets being we think it's going to be up again next year bit. You can have some headwinds that relate to the Fed go on forward. The important thing to note is that if you if you look at the that the last nine times the Fed increase interest rates and going back to World War II they've increase increased nine times come and out of out of recession and eventually raise rates on the other hand for the economy down and try to protect the bull market. Nine times out of nine times the year before they raise interest rates the market's up. In eight times out of nine in the you're apt tour they begin raising rates the market is up. Not a lot of volatility and a lot of concern that relates to the before and afterwards. Wanna talk about it than that I. Enlarge the market dynamic of that is through FB instead. Once the Federal Reserve raises rate. Bark about. The thirty yard line on the other side. Cook the recovery mean we're past the midway point of the recovery. And it usually elegy got about 30% more of the bull market and economic expansion to go. It's clearly signal. That you've entered the latter stages of the economic cycle which put in a completely different playbook on how you want to invest. So what when you look at the US in relation to the rest of the global economy in the global markets if you look at the kind of first ten years. Of the century from 2000 to 2009. Emerging markets were where the place to be that's where you saw all of his growth potential all of the returns in the Marty says he's great returns. And now we've seen is that for the last four years emerging markets have been this place that is consistently at low valuations. But seems to be stuck in neutral is that potentially turning around at some point the next year. Well it could and it could personal reasons one. Is because we do believe that global economy. Once Europe's sort of get its act together and trying to begin to find and force people level wrote. And hope which and it's important time easy monetary policy begins to pull itself out eventually got old hole demand from emerging markets. And be able to unlock some of that cheap valuation definitely it's emerging markets bit. The underlying trend across all of or not all that mean emerging market countries. Over the last ten years what you've seen is that most emerging market countries have gone from net exporters to net import. Mean their economies have grown they've taken on debt they've they're not selling quite as much labor is more expensive dynamics and in their demographics are changing. And many of these are no longer the local producers at least it. And relative terms the way they used to be on if you look at developed countries especially here in the United States. It would become much more competitive wondering we've got more competitive because we have the cheapest energy of the cheapest energy of all developed and emerging market countries. Here in the United States has given energy advantage of the main factor and advantage. And so we think the dynamics are changing a little bit as it relates to production and manufacturing. And that really against papers the United States because of the energy Renaissance that means that we think emerging markets. Still have great promise of the next few years you think that that really over the next year or you begin to see them on stabilization and he's an investment start at the. All right Oprah appreciated have a happy new year and we'll catch up in twice fifteen X is the financial exchange on the financial exchange radio network. Investors searching for relatively low risk investments that can easily be converted into cash often turn to certificates of deposits or CDs leader bank is currently offering an eighteen month CD with an impressive one point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent -- why call 8776917900. Today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more -- bank a step ahead minimum deposit to open and -- annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member FDIC rate effective November 4 2014 this is very are strong and I'm -- Today by estate planning attorney Todd what ski from the law firm Cushing in Dolan. It's time for your legal exchange quick tip of the day were talking today. About the different ways that you can only real state and taught I wanted to ask you this one. What are the implications of transfer your whole C just take your home yet and you give it to your children. In order to protect it from the nursing my ex he had somebody asked me this yesterday sixty years old. In the heard about this thing transferring music like this yeah kind of makes my teeth itch. Really you know GAAP putting your kid's name on anything while you're living is frightening with or without the light for states a year question was interesting it was. At least using a life estate does provide the parent the right to live there that some protection I I feel better about that. But I really don't like having the children's name. On any property. For the following reasons one when you do that it's a completed gift to you've lost all control over you don't order anymore. I worry about if the kids go through a divorce and ex son in law the ex daughter and when your house like. Number three is it you know Ali you know I don't you've now subjected manager Jim said Barry took their creditors and doesn't necessarily have to be divorced as he could be a lawsuit business failure anything. Could be any creditor and so they don't basically that creditor has the ability to get the ascent to pay them back which means you lose your home I certainly don't like that idea not to mention there's also a tremendous amount of tax problems associated with doing that so don't. Don't do that. Sorry I've got some advice for you learn the best way to old and protect your home your vacation home in your rental property. Call for Cushing and old brand new guide to the risks and rewards of real estate ownership 8668485699. That's. 8668. Rory. 5699. The guide will teach you all about the risks and rewards of real estate ownership. Toll free 86684856. 99. You may be wondering if you've saved enough to make it through retirement now add to that concern about health care costs and your stress level may be shooting through the roof when you're not alone researchers report that more than half of retirees. Are not feeling confident that they have saved enough to pay their medical expenses during retirement if you feel like you're included in that category then we have help for you must today and 86681064222. Request a free guide on health care in retirement planning is crucial and may even help lower costs and challenging their paying for health care in retirement is a major issue is just the first step. The next step is to understand what these costs will be and to incorporate them into your plan that number again it's 8668106422. Securities offered through securities America -- member and -- SIPC an advisory services offered through securities America advisors Gary Armstrong representative Armstrong advisory group and the securities America companies are unaffiliated hi this is very Armstrong from the financial exchange recently I've been hearing many reasons why we should consider buying gold geopolitical uncertainties stock market corrections you name it I don't disagree with the idea of buying gold but I have always been suspect of the ads that I see on late night television or even the ads frankly that I hear on the radio I like to buy gold from a local institution that I trust I owned gold and I bind my gold coins from leader bank I walked right into any leader bank branch and I can buy American Eagle gold points leader bank is a local bank with branches in East Arlington Arlington center Arlington Heights at Belmont Burlington and Central Square Cambridge thank locally and buy your gold coins locally it just makes sense give leader bank a call and learn more about their gold coin. Programs 8776917. B 900 or visit leader bank dot com leader bank a step ahead not a deposit not FDIC insured not insured by the federal government agency not guaranteed by the bank may go down in value. Follow Barry on Twitter at Barry G Armstrong its Barry Armstrong and team paragon. On the financial exchange radio network. Answer our first question which was what the meat that you want to avoid a New Year's Eve you're looking for for good luck and the answer is. Chicken. And lobster. You do not wanna eat chicken and you do not wanna eat after camera both of those tonight I think he shouldn't I think he should have swordfish. And I'd like to tempt fate. Steak tips you don't live on the edgy the lobster. I don't now I think I'm going with if I'm going with the sort that was also I think I'm going to this restaurant that they always serve on tables under ladders next to broken Mears with black cats winner real later in yen as their apnea. I'm nervous but that's a case that I think you should order some chicken. You gotta spice things up a bit most definitely are getting a percent at. I might have little incentive might have. We're about I don't I wanna pay for champagne you know exactly. Kick is you're gonna need every dime you've got with all that technical a few thousand or fifty. Large do this she knew it was ticket she's gonna take one of our blanket she's instructor she says she listens almost every single place. Many think the line and we hope you join the blanket. He very quickly and we asked you know some people. If they had some suggestions on what you are supposed to be in excellent seven agreed with me. Us experts haven't said yes Black Eyed Peas with him and corn bread that's a southern New Year's tradition and it brings that blocked Oca. Now I think. Not that maybe I should be doing all Black Eyed Peas you know I wish you look at please let that might that might call I think that might qualify it and I do one song today that gets people on a good move. This another dissolve the subject but 71 says gas prices settle for today two dollars and seven cents day you've got I think it's either it's either three or four states now that have statewide prices below two dollars a gallon. And on Massachusetts continuing to head down so. Certainly good news for drivers heading into the winter driving season in my family's all from Missouri and they've all been here that he slept last night and before leaving. My sister was showing us. Something's on on the Internet and it was a gas station that she's familiar with goes to a regular basis in the price drop to buck 89. That's bad. That's not bad in any kind of this on the I'm. It's kind of similar I'm actually really is and so on is gonna Segway anyways nice and so that we've talked about some gonna surprise you are right sir this is a great article that decides from the fiscal times published about eighteen minutes ago and this talks about the five most egregious examples of government waste this year. OK let's hear I think is a great time to do that it was too perfect but Europe so we have. The number one was Afghanistan reconstruction. And apparently there's a 104 billion dollars of that was spent this year but overall. And apparently projects have gone over budget they only found about 10% of the actual money was spent repairing the country the rest is kind of still nebulous exactly what's going on with it. That much money becomes nebulous. Afghanistan and all you have to say. Afghans that evil on entitlement programs Medicaid Medicare and Social Security. Doled out about a hundred million an improper payments this year probably that's the estimate. And that's probably low so between 2002 and 2012 federal agencies gave at about 688. Billion dollars to the wrong people that's all federal agency not just those eyes but still certainly not you know something that you wanna see there. This is another great one it's actually. The Government Accountability Office okay. Came out with a study that said that the federal government paid three point one billion dollars to federal workers who were on administrative leave in the last three years which means that if you mess up. Okay and you have to be placed on administrative leave the government pays about a billion dollars a year to people who do that. Oh for goodness that's always a good thing again that's terrific that's for. Money well spent on this is actually one of my favorite ones. FBI just came out with a new case filing system called sentinel. They spent a hundred million dollars over the budgets are not a 100000100 million dollars over budget and it doesn't work. Just doesn't work at all. And then this is always surprised that the system that the US government put into place to work like big what was mourners files or somewhere in that no. And then this is also another great one. FEMA spent 240 million dollars building a high tech system to help deliver supplies and coordinate a multi agency response to national disasters but after a review by the Department of Homeland Security. They found that eight can't even interface with the other agency supposed to do. And so it aches so that you actually can't locate any of the supplies you trying to locate. How great is that and cast and it's wonderful if you add all of that is your total. Odd I mean now the just the five biggest one out yet know if you take top fives and add it all those up and we're about billions are not billion dollars and it's it's unbelievable to think about how those billions that it. Good that can it happen that given money in taxpayers' pockets police here it is money taxpayers' pockets but enough about the right right politically in good okay this is a good story. The BRA in Boston yup. Of their there was a report that came out that the Boston redevelopment authority. Had been terrible and really lackadaisical when it came to. Picking up their deadbeat written. Right so they had. All of these tenants who were not pay their rent. A cut and usually if that I didn't like that happens the first to get addicted to these support getting evicted and we're talking about renters scores were talking about not and it's talking about. Brent arbor apartment you know we're talking about these are retailers are these are these are companies. That have a locations the city. So they were some. Four or five point four billion dollars. In the hole last year Oca from bad Rangers a couple who had not paid. So this is an embarrassment to you to do that the current the other it would be there and to the new mere yup. Because that's just you know just being lazy and not get up there didn't take care so. We in a matter of minutes. After this report came out they started in new program. And they now have collected four billion in back rent and buy point 48 collected four billion in background. They determined that some of that money that was allegedly owed wasn't would. And so now there somewhere indeed the ballpark of about nine. 115 million that still owed the city we'd 950 militants are 900 pounds OK I still of the city are. But they have collected just about 80% recovery which is pretty good actually have you ever heard such thing that's true pretty good even if typically was stuff like that you don't see that I have a recovery rate that's actually not bad for them him. Especially for them to have done that this quickly that's that's pretty impressive actually it really is so I take my hat off to Marty Walsh our army air and two with the folks at the ERA. Trying to make some some inroads in. In those bad deadbeat renters and hope they continue to do so maybe teach adolescent right. You owe us money pay. That's how typically works and that's that's how I've always operated well let me just say this figured if you go that far in arrears when it comes to your rant. You you would be industry now I would be another country. At that without extradition. Here's another odd trivia question before we go to a break which city hosts the first in New Year's celebration. Texas it's X 8680 I've played any authority over it ever each year each year. It's already over Oca. They're well in 2 January 1 just about to be. Headed toward. January they tell us what the future looks like I think McCain is ago about I what I'd like to know was it did the chicken or lobster and have they had good or bad luck so far. I'll be conducting a case study solid all everyone no later on this week. Which studios the first New Year's celebration each year Texas at exe sixty we'd love to hear from which they get a break everybody looked more step anyway. This is the financial exchange on the financial exchange radio networks. Police called it broke the bad news to Charles is personal and financial information was found on an identity thieves computer disk nervous and confused Charles called life walk the industry leader in identity theft protection like flock went into action fund covering multiple fraudulent credit applications the identity thief was trying to open in his name. 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Are not feeling confident that they have saved enough to pay their medical expenses during retirement if you feel like you're included in that category and we have help for you tell us today and 86681064222. Request a free guide on healthcare and retirement planning is crucial and may even help lower costs and challenging their paying for health care in retirement is a major issue is just the first step. The next step is to understand what these costs will be and to incorporate them into your plan that number again it's 8668106422. Securities offered through securities America ink member and rat SIPC an advisory services offered through securities America advisors Barry Armstrong representative Armstrong advisory group and the securities America companies are unaffiliated are you thinking about transferring your home to hear children in order to protect it from the nursing home. Did you know that if you do you put it at risk for your children's creditors including future divorces. You really wanna write a check tear former son or daughter and not just to buy the Acura own home. Not only does transferring put your home and rest it can also create a huge capital gains tax when they salad. Right now the federal capital gains tax can be as high as 23 point 8%. And that's an addition to your state taxes. There are better ways to own your real estate Beckham protected from the nursing home. Keep it away from your children's creditors and avoid probate and not cause unnecessary estate taxes. Tucked up in a lot from at Cushing and Elena put together three new guide to the risks and rewards of real estate ownership. This free guide will show you the best read on you real estate. Call now for your copy at 8668485699. That's 8668485699. Investors searching for relatively little risk investments that can easily be converted into cash often turn to certificates of deposits or CDs leader bank is currently offering an eighteen month CD with the impressive. One point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent AP why call 8776917900. Today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more with the bank a step ahead minimum deposit to open and -- annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including iris penalty which may reduce earnings rate subject to change without notice member FDIC rate effective November 4 2014. All best in business is right here Barry arm stroke and can carry him. On the financial exchange radio network. Welcome back everybody talks when I was just the thought but I'm looking at Oxford acts. I was actually just looking at their news. But we are not right. What about the fox twenty via welcome back to financial exchange can. Wow wow what years as were going into it's 2015 I Ashley please not disclosing yeah but it's true. It's when he fourteen year here to help us out with the couple's wedding in 12015. We're joined by Peter Walsh from from Morningstar Peter thank you coming on with us today. So the first company that we're talking about here's one that most people probably notes a household name. But it's a company that's been in a bit of transition recently and that's IBM what exactly is going on there. So would this is against the second you're on the road the worst performing stock in the Dow shares are down about 15% year to date. And I think there are two things going on number one. Investors are concerned about its cloud strategy and then the second. Thing is they're concerned about their IT services and consulting business which has very deep roots is a very large business but it's been underperforming. At the peer group and its made it challenging him as they transition her periods for the for the company. Can tell me a little bit more about their cloud strategy because I know this is where everyone's is looking in terms of enterprise. Development now at this point where where where exactly are they doing what what kind of problems are they running into what they seen. So I think the short answer is that they were caught off guard IBM has. Mean prince's service that have been installed for 4050 years. But there's really no reason why somebody needs to install and new mainstream on on promised to consider new smaller more nimble competitors coming in. Thing you know we can often use a cloud solution at a much lower price and then you can kind of do an Al carts off the shelf for every need and an IBM was slow to. React as were some other names like and oracle and even a Microsoft but there's a new wave of of clout and considered take picture. Pretty dramatically and in dropping the AT overall cost of ownership. So when you look at IBM right now is that are their causes for optimism go voters this is stock that your bearish about. That is the stock that we are. That to put it mildly let's say we are. Long term positive but the near term you've got. Stills still some pretty stiff headwinds that tickets. It's an interesting name because it yields. Two point 75% dividend. However there's not much of a catalyst to get things going if you have. Yankees services business still under pressure managements think that there are sales and execution issues. That's still of a point of concern so heading into 2015. He probably got time to wait but this is the company that does have. Keeps switching cost they have entrenched customer base they are making some good strategic moves that should play out pay off in the long run. So take a look now at another company in the tech sector not quite the same area they're more. Of hardware manufacturer in the and that is Altera what exactly is going on there. So Altera is going to be an eleven billion dollar semiconductor manufacturer to make up nearly half of the PLB or. Programmable logic device market. And this is effectively do lawfully Altera is very well positioned within Telecom and wireless industrial military and even autos it's a good business to be and and one where we think the company is benefiting from a couple of different tail winds. Number one you have a rebounding POD market it was weak a couple years ago. Next year Apple's board chi LTE wireless built out in China and LTE investors there are growing it is very quick rate. And Altera is is pretty well positioned as semiconductors. Continued down wars law and make it smaller yet more expensive to actually manufacture it. At the smallest levels. Do you feel in terms of looking at some of their other competitors that would they also have these types of and it advantages or. Are you really focused on them as the primary leader in this space. So Altera completes its and other companies dialing. And does to make up. About 90% of this peeled the market and market share ships are pretty slow once an engineer gets trained done a certain methods. They usually stick to it. As so these. The POD market typically grows a little bit faster than the overall semiconductor. Manufacturing market it is a little bit more cyclical as well but that's something to be expected but over the long run these two companies are taking overall share. In semiconductors and and very well positioned at least heading intends to 2015 and probably 2016. Are able Peter I appreciate you coming on with us today thank you for the insight into these companies and have a very happy new year today thank my future. All right there's Peter Walsh from from morning star in the two companies just in case you wanna take a quick look on your own the first one was IBM the ticker ironically enough his IBM. I sector and is Altera with the ticker ALT. All war. I was just looking. Out on the website that I mentioned earlier about another. The story actually used his command as it was with Erving. Right here on New Year's. The Russian economy in tailspin right now and one of the release wrong. It. Retail objects in Russia is vodka. Surprisingly. In the items that they sell the most out. Well because of all the issues in the Ruble dropping and so on and so forth what's happening is that people can't afford vodka. So there bootlegging. And the result is that of course not paying taxes on getting cheaper yeah it's getting cheaper and it will alcoholism issue in. The country of Russia yeah. So potent is just announced that they plan to drop. The price of vodka. Starting February 1 16%. And thank you what to do it for two reasons number 11 and foremost he believes that. What did you said people are bootlegging you that's a real problem for them back in tax dollar. But number two this is actually in the story register. He feels that the Russian people are going through a lot and drinking vodka may take the edge off. For them as they go through this so I think what he's saying is it viking get my population drop. They won't know. That I'm doing all these ridiculously huge and. That they're going through what Port Arthur I mean that's one approach to tape I mean it's. IE I have Claude tempers as the idea does that really make any sense and it's kind of what you would expect from prudent at this point to very prudent move. Very original notes that he's just unbelievable to me it's at what what the next step could possibly beat it it would. I don't take Monday's and Friday's off and everybody just drink vodka. And I be woody Pickler and let them that you just declare Friday about today absolutely. Everybody just get yourself. Drunk out of your mind in the you'll know that you have nothing to eat that you freezing cold. That you lost your job that there's nothing in this country you can imagine the president came and you know back in 20082009. At this. Look you go through a tough time I want you all go out have a couple more to life. Just go have a couple more dish everything will be okay exactly I have no problem Dick you know everything will be all right you'll know how bad it. And it really is and you feel what. My it's very I mean he's easy unique character he isn't union either abscess it keeps us laughing he never disappoints them how. Yeah. The first. City to host the New Year's celebration each and every year is Sydney Australia. Some written Nazis in Bedford. And a key to England today with. The agreement to preached Sydney asked your. News will be headed into January if currently. Coming your way up in the next hour we'll be talking actually about percent. And we're talking about it obviously because it's amusing that are really interesting business story it's changed dramatically as a result of the economy. Here in this country reluctant about the odd game in Russia that. It the percent at issue is not changing because our president if he thought it should. We also want to share a really incredible story with you about the fallout from the oil prices and the dropping. It's resulting in one of the biggest divorces in US history. Going back to court. And we're gonna explain to you what that's all about and a little bit later in the broadcast we're gonna talk about the state Massachusetts most off beat business stories. Of 2014. I think you're gonna be surprised it's I've I've read through with these are yet so here's what they rank is the top ones there have been some crazy things that happened. In the year 2014. To its course I think that happens pretty often. And then finally this morning and this is my favorite story of the morning were telling you about a retailer. That has put their own spin. On a movie it was released. To the last couple of weeks they decided that the Euro has been on them. And explain to. It's back to school time and it's time for you to brush up on your education about the state planning. Did you know that for married couples you may be paid unnecessary estate taxes if you don't have a trust in place. For a married couple in Rhode Island this gift to the government can be as high as 100000. Dollars for two million dollar state. I don't know about you but I have plenty of other people in my life that I'd rather give 100000 dollars to. Pushing and Dolan has put together a brand new guide called back to the basics. A guide to estate and asset protection planning call for your copy now at 8668485699. Don't lose your money to taxes call 8668485699. Back to the basics. A guide to estate and asset protection planning. 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Are not feeling confident that they have saved enough to pay their medical expenses during retirement if you feel like you're included in that category and we have help for you must today at 86681064222. Request a free guide on health care in retirement planning is crucial and may even help lower costs and Knology and it paying for health care in retirement is a major issue is just the first step. The next step is to understand what these costs will be and to incorporate them into your plan that number again is 8668106422. Securities offered through securities America ink member finreg SIPC an advisory services offered through securities America advisors Barry Armstrong representative Armstrong advisory group and securities America companies are unaffiliated. Pat Boone here with a word about banks' safety do you think your money in the bank is safe. Don't bank on it a generation ago bank account felt secure and they paid interest. 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Did you know that if you do you put it at risk for your children's creditors including future divorces. If you really wanna write a check tear former son or daughter and not just to buy the Acura own home. Not only does transferring put your home and rest it can also create a huge capital gains tax when they salad. Right now the federal capital gains tax can be as high as 23 point 8%. And that's in addition to your state taxes. There are better ways to own your real estate Beckham protected from the nursing home. Keep it away from your children's creditors avoid probate and not cause unnecessary estate taxes. Talk about ski in the law firm of Cushing and Elena put together three new guide to the risks and rewards of real estate ownership. This free guide will show you the best read on your real estate call now for your copy at 866848. 5699. That's 8668485699. I. Well its hold on your checkbooks and give your portfolios break. It is time for the financial exchange with Barry Armstrong and Kim Keller again from Wall Street to your street Berrian human judge you've covered peaks the financial exchange with Barry Armstrong and gene Kerrigan. But the back every with a financial exchange rate second hour broadcast on this year's team it's terrific to have you with us. I've inherited checks on its view with me. We've been talking a lot about. What's coming up in 2000 team looking back at some stories 2014. And it looks like to need him as we head into. It's celebratory night. One of the things that is going to be coming up in 2015. Is more percent go. Got some statistics from one of our listeners and I would share with with our audience some would just text in to say. That a 50% of all wines sold in the US a premium sparkling wine is up 5% percent go ease a 30%. This year. Well mark up is the fastest growing pre cycle brand in this country grueling. At a rate of 45%. Pretty impressive it is pretty impressive numbers there but the question is this do you know what is the difference between champagne and percent. So let's find out shall we. Gillian and Eugenia us from CNN money is joining us and she's written a great article about how it's no longer the poor man champagne. And Julie it's great to have you with us today. Here are going to be happy new year I think you enough so what is it different opportunity for Sacco and him. Good question Perry's campaign is that are going went from France can only. Be illegal campaign. It is from the Pacific region and then protect our. In that campaign are screening at our income and it is banned. I think it's Iran and very delicious the bottle. Not for a long time. It really was considered they'll buy Champaign snobs is being you know kind of the poor man's I wouldn't touch that kind of champagne. Yeah OK get respect and it like angered. That aren't buying wine category. But. As we've seen over the last couple years there's been an emergent high and back and are spending more on and he has to negotiate. Being getting some bill popular and I I was opening news and bad statistic about a 30% and it has been. Becoming so popular but what I think is interesting is that it I'd crying in the growth rate at Berkeley and overall compared with other. That is really adjusting you're absolutely right and it's gone up. Very much when you talk about the price of a really good bottle per cycle because I think. You know it for a long long time if you paid 35 dollars for bottle up for Psycho you paid a lot of money. Well that's true and I apparently into being in reporting the story is that any apple can be considered cleaners over twenty dollars a spot. And most people are spending about twelve dollars per bottom protect that most are comfortable like at and eighteen Rangers. So I think that is great because it makes perfect example for people as you can spend something arc Indian partner only spending. Over twenty but you're out there that more tired. And when we talk about high end though now. A 160 dollars a bottle would not be surprising if you were gonna buy a real a really good model correct. The right to that I had the cup coming out now they have this sort of knew that the guy who may not wind has been. In a white making statements are dailies and for generation. And it is furthermore that he is alpha echo. It's really are accused Alina like and decree that all that stuff and that and that and that the 150 got a dollar buyout offer for electric. That's a lot for any bottle of anything. It definitely. At a packed a part of our. I always like to think years 160 dollars on the ball but he's the first when you open. It is our premiere party at. So tell me he's there a difference though would have tasting it won't what's the real difference of having some kind of sort of dry champagne from France vs a percent. Not so you are going for something like one of those like older vintages from. From the champagne region that you're acre going early and are hiring him Iranian. It's going to be if you're gonna get more of an east haven. That bubbles are might be like more robot and a echo what people say about the difference between. He's being a champion and the passcode that particularly site. McKee is sort of more. And it's more buying an event itself is here is I think it's partly like. So popular I think you probably right at you there's a younger crowd out there that has really big instrumental. In this increase. I totally agree with you I think it's you know wanna have a good timing and maybe it's that the house like. It ain't as easy as pulling out of all of partnering on but maybe he partly about all the time. Your absolutely right to lead acting again for being with this and happy new year enjoy it lovely glass of the opera suck in. Your. So you know you're not a I have to I'm sort of champagne person I really has campaigned snob no I'm not I'm not I don't think you actually I could take that story much like with. I was given a gift as a gift for something special. A bottle of dom pairing him one time a stuck in my in my fridge or whatever yeah. And left there thinking I'll drink it on a special occasion so I think it was probably in my wine cooler for I don't know a year and a half two years Soka. Pulled it out on a New Year's Eve. Had friends over at this is really going to be kind of a special treat for everyone you know. Was the worst campaign ever really infected as embarrassing as it pulled it out and what made this big deal. Reported it was terrible I mean that's supposed to leave it for that extra time I don't know I wouldn't think so focused don't you think that they're exposed to a you know isn't it that champagne the older it gets better is I don't know I guess I would. Yeah I know. But the bottom was terrible really yes it was awful so I'm not I'm not a champion I don't believe that I dislike what I like and I I think in general here. Seeing this spread to not just places like champagne and percent of reducing this kind of across the board was so many people not necessarily being able to afford premium brands are premium types of things I think they're trying things there may be you know stepped down in terms of price or several steps down in terms of person saying. Look it's it's pretty good actually and yeah I guess still you know I I don't have to go out and get the best cut a state or something I don't want to get and there's an eye on what Wyoming and paper this. A generation out there it's much smarter. That I mean first off right behind me yes. I don't want more time. I think what's happened users younger generations that pushed into the workplace and. And they're doing the best they can do they're paying an awful these loans are doing all these kinds of things they like nice things but they're they're Smart. They're not spending ridiculous amounts of money on what everybody begins its premium. You know she just told us you have a bottle of this is for Sacco premium is twenty bucks the outcome would be good deal. I don't feel so bad if you you know if he's a little on the carpet. Now in what appears to see. Is if those same people as cute as they start to get a little bit older maybe they are little remorse out most in the workplace if they continue to keep those habits are if you see that change a little bit. Maybe as they start earn a little bit more than six mark. I hope so but I mean again. And are not able to dumb things. We talk about talk about money and them things. That I'll I mean that pretty much the entire show if you wanted well let's talk about this divorce that's going on Shelley. Which part of this do you wanna talk about well money flowing to people what's happened. Well there is a lovely man by the name of Harold Hamm whose worth about nineteen billion dollars or watch about nineteen billion dollars account he is an oil magnate from the Oklahoma area. And he had agreed to a one billion dollar divorce settlement with his now ex wife. 26 years it to Mary 26 years and she was gonna get a billion dollars and she's it I just have to listen absorb trying to cut up his story my husband would say do this all time. But yet it's important she's an attorney. And she was also an executive or director of his company so she is arguing that she has been instrumental in increasing Hughes well. Over the twins pitchers and I would not disagree with a well with the ball and oil prices is fortune has been cut anywhere between thirty and 50% depending on exactly how you look at the value of his holdings. And so he is going back now. And saying that the 'cause this is something that was not actively done by chapter and active management or anything it's a passive event that happened to him that under Oklahoma law. He is actually entitled to appeal that. Ruling and he's actually appealing to have that amount reduced that he has to work. And Oklahoma law. Based on what I am initially seeing it looks like there's a chance he may be able to do this despite the fact that you already agreed to that that's the part right here. I told you know what it had been divorced. Come up in court after. Oil prices started on edge and he start to hit you would understand you know his his wealth would have been at. Or I want us out of execute very well. Would have been at a certain how he's claiming because he owns 60%. Is 50% in the company that he is 60%. Imus has 60% stake in continental. Resources. That it's his money she says that he Gailey had not been for her for upper. Serving in the Bork for her legal in your actions with the company that he would not have made this kind of wealth but anyway the point being. He thought it was at a quoting fair and equitable. And agreed to the deal now but things changed him. That's our I mean if you are on the other side this you would say it's fair. I'm I don't know I wouldn't say it's fair. Because its settlement it's been decided in court. And then you have a loss once. Again I never forget and I don't I let me. Giving the counter example how to act here let's say there's divorce okay and you have a certain level of alimony and child support okay. If someone loses their job or Steve Jobs circumstances change that he didn't capable of paying you can go. This is saying look because of the change in my circumstances I'm still capable Pena but it's a march larger portion than we initially agreed to. Thus I would like to go back and renegotiate the terms of the deal I don't think there's anything wrong with that I think that's a bunch of Malarkey. Hosted a bunch of Malarkey I what you debate isn't lost three billion dollars other big could come back at a delicate that I got of his own doing. This is in these passive thing won't be easy to think well maybe he should have taken his money after he got into this divorce and you knew that he's gonna have to pay her billion dollars. They may be should taken his money out of the market put a safer place. Change your investing philosophy just because of divorce that that makes cents well maybe it did because he had to ensure the fact that he had a billion dollars. For her AM he was going to live his lifestyle the way he wanted to I completely disagree. I completely agree I just don't understand is that you can eager to have this decided in court what was fair and equitable at the time. No longer is circumstances change you have to account for change. In which that. While I recognize it's not fair and equitable because my new wife doesn't. That way she wants the sort that out I was doing that some active that's his choice this is not because of any choice that he may you know these sources he kept his money in the stocks he kept it hasn't shared that volatile that model. At the hospital industry I disagree. I respectfully look at David other Pulitzer award he's a thing or they've they've had their own pre nup Perino. Offered up a. Let's take a break everybody listening to financially to by the weight when he had 68680 what do you think. Barry Armstrong and comparative. Right here I had to exchange radio network. 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Investors searching for relatively low risk investment that can easily be converted into cash often turn to certificates of deposits or CDs leader bank is currently offering an eighteen month CD with an impressive one point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent AP why call 8776917. 900 today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more -- bank a step ahead minimum deposit to open and current annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member efficacy rate effective November 4 2004 team. 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Its Barry Armstrong and Ken Kerrigan on the financial exchange radio network. Welcome back it is. One other comment about this. It's billionaire. Which by the way folks just keep it right near oil man from the moment. You know he's he agreed and thought it was an amicable divorce when he was paying his wife about his former wife. A billion dollars and he was worth nineteen billion. And then Hughes oil stock dropped. He. Is oil stock dropped and he lost by. A couple dollars you lost nine billion dollar OK so now he's now his net worth is. Nine billion dollars it's not a huge like big guy at 250000 dollars to his name. He paid her off under about it and then he lost. Most of his 150 can these work nine Kim -- years to quell his deal okay. If any given day if you come and you say OK I made a hundred dollars and I was working too. I and the government takes 5% taxes OK yeah then all of a sudden overnight the government says you know what. We're gonna reduce your wage to fifty dollars a day but you're still gonna pay five dollars in taxes is that fair no but here's the difference. Because he'd lost money. After. His divorce settlement up. Was that her responsibilities she's getting money off of what they earned together know why does that have anything to do with what he lost after the settlement was over because the state of Oklahoma said and done well we'll see no they haven't said that yet but it's it's a passive thing it's not because if anything active that he did. And that's just like any other type of agreement can be adjusted based on future earnings are future valuations. Holes. This is based on what they made together. As a couple for twenty. Six years why should she have to suffer. After the settlement his bid. In finished it's done it's agreed upon my job is it brings you get let's get 600 million is that it will entity and he's he's suffering he's down to nine billion. Look if if it keeps going and yes some real problem there anymore which you shouldn't you shouldn't is that. If she goes out and takes her billion dollars net and she invests it and she makes bad investment she'd she'd be entitled to get more money from him don't you got an investment is that an active choice based on her what she owns she owns the same company that he counts if you want to passively and it's not gonna make a difference but that's what we're talking about why why should why should he be a look at -- take -- from her about that she hit it from him if she was simply receiving shares of stock should be getting less money anyways it wouldn't matter clearly that's not what she's getting hard cash and she built that realistic with him she built those homes with him she was responsible for putting a portion of that money -- so you're saying that because it was signed a couple days before the price of oil went out she should bear no responsibility for what happens after. Yes I am. That makes that makes no sense at all. At all it was agreed upon signed sealed and delivered she walked out of the courtroom how can it any other widely and he's standing court let's say. I don't think she should get a billion dollars of my nineteen billion dollars because I might lose some of it in the future. What were you. He could sense she should get less. On defeat her. That I might loosen about nineteen billion OK can I walked in accordance look I don't agree this alimony because they may lose my job in the future and you can't do that so why can you come back and say I lost money after security and alimony and anything else like that. Absolutely. You can only do that if you're incapable of may not if you're still capable pinkie can I disagree. The thing you're not a judgment that thing here and there and I'm not judge. It you know we we did not go reading go three days. This year 2014. Without hearing from the get hacked. You know everybody everybody is tactics and every was sort of affected by it somewhere no I personally. Had to change some of my credit cards and whatever because the big packet. Home Depot. So. I was looking to see what's gonna happen next in Europe I talked about this yesterday you know until somebody really gets hurt me just put their flicked out. This can't be attackers being ahead of everything in this country's gonna continue to happen but it was looking to see. Which industry is going to be the most vulnerable in 2015. This makes total sense to me you know but it does YouTube dot Smartphones. And the world of e-commerce on mobile. This is going to be the biggest target how many cyber experts are are predicting in 2050. Yeah and one of the senior research analysts from the Kaspersky Lab has come out pretty much said look this is what is going to be targeted next year and the reason. Is that most folks don't have very good security on their Smartphones apps and encryption and things like that that are right would they give. Packers chart but. In general. It's not the most secure system and especially when you use that for things. Such as mobile banking bill paying things along those lines especially now you're seeing devices integrated into homes and things like that and workplaces. It's exactly and so. I think that when you look at the biggest threat out there. Probably is Smartphones now again that the question that I posed yesterday you gonna have to answer at some point. Do we actually need all of these things connected and can't people and will people. Give up some of those conveniences for more security because if you do have these these different devices that are networked together with all this information fallen back and forth. Every time you open up new connection you are making yourself vulnerable children that I track. I can't tell you I think that this. The whole idea mobile hacking is going to be that this is going to be where the rubber meets the road because this is gonna affect every single person you know maybe not everybody hot shots from deep. Maybe everybody's credit card maybe not everybody you know cares about Sony. Everybody's got Smartphone everybody's got some kind of device and everybody is using it in a way. That. They would be giving up valuable information in some form yup if somebody gets him. Well exactly and so I think. What you're going to see is there will be whether it's this year or next year sometime after. You're gonna have just like yet with the target breached that made everyone. That made retailers go out in essentially changed their point of sale systems to moving out towards chip and pin right at some point in the next couple years something's gonna happen in this Smartphone you can spear that's gonna say look. We we can't keep doing business the way we've been doing that we need to change. And that's when people are gonna have to adapt and you just hope that what happens is it bad enough to significantly affect a number of. And separated just maybe. All right before we go to the break let's get another trivia question in this is all having to do with New Year's Eve what was the top New Year's resolution. Of 2014. If you against Texas 66. Talk resolution. Send. It's very Armstrong and Jim Carey dead right here on the financial exchange radio network. Investors searching for relatively low risk investment that can easily be converted into cash often turn to certificates of deposits or CDs leader bank is currently offering an eight. Great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent EP why call 8776917. 900 today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more leader bank a step ahead minimum deposit to open and current annual percentage yield as 1000 dollars Massachusetts residents only penalty for early withdrawal including iris penalty which may reduce earnings rate subject to change without notice member FDIC rate effective November 4 2014 this is very Armstrong and. Joined today by estate planning attorney Todd let's keep from the law firm Cushing in Dolan. It's time for your legal exchange quick tip of the day. Were talking today about the different ways that you can only real state and taught I wanted to ask you this one. What are the implications of transfer your whole C just take your home yet and you give it to your children. In order to protect it from the nursing my ex he had somebody asked me this yesterday sixty years old. In the heard about this thing transferring it using only the state here. Kind of makes my teeth itch. Really you know GAAP putting your kid's name on anything while you're living is frightening with or without the light for states a year question was interesting it was. At least using a life estate does provide the parent the right to live there that some protection I I feel better about that but I really don't like having the children's name. On any property. For the following reasons one when you do that it's a completed gift to you've lost all control over you don't own it anymore. I worry about if the kids go through divorce and ex son in law the ex daughter and when your house like. Number three Izzy you know Ali you know I don't you've now subjective and as you just said Barry took their creditors and doesn't. Necessarily have to be divorced does he could be a lawsuit business failure and could be any creditor and so the oil basically that creditor has the ability to get the ascent to pay them back which means you lose your home I certainly don't like that idea not to mention there's also a tremendous amount of tax problems associated with doing that so don't. Don't do that. Sorry I've got some advice for you learn the best way to old and protect your home your vacation home in your rental property. Call for Cushing and old brand new guide to the risks and rewards of real estate ownership 8668485699. That's. 8668485699. The guide will teach you all about the risks and rewards of real estate ownership poll free 86684856. 99 you may be wondering if you've saved enough to make it through retirement now add to that concern about health care costs and your stress level may be shooting through the roof when you're not alone researchers report that more than half of retirees. Are not feeling confident that they have saved enough to pay their medical expenses during retirement if you feel like your included in that category then we have help for you must today 86681064222. Request a free guide on health care in retirement planning is crucial and may even help lower costs and biology and they're paying for health care in retirement is a major issue is just the first step. The next step is to understand what these costs will be and to incorporate them into your plan that number again is 8668106422. Securities offered through securities America ink member and rat SIPC an advisory services offered through securities America advisors Gary Armstrong representative Armstrong advisory group and the securities America companies are an affiliate hi this is very Armstrong from the financial exchange recently I've been hearing many reasons why we should consider buying gold geopolitical uncertainties stock market corrections you name it I don't disagree with the idea of buying gold but I have always been suspect of the ads that I see on late night television or even the ads frankly that I hear on the radio I like to buy gold from a local institution that I trust I owned gold and I bind my gold -- from leader bank I walked right into any leader bank branch and I can buy American Eagle gold points leader bank is a local bank with. Branches in East Arlington Arlington center Arlington Heights at Belmont Burlington and Central Square Cambridge thank locally and buy your gold coins locally it just makes sense give leader bank a call and learn more about their gold coin programs 8776917. B 900 or visit leader bank dot com leader bank a step ahead not a deposit not FDIC insured not insured by the federal government agency not guaranteed by the bank may go down in value. Yeah. Follow him on Twitter I'd KK carry him you're listening to Barry Armstrong and interrogate. On the financial exchange radio network. How come back everywhere in the financial exchange hands down or waiting for a winner in our trivia contest are questioned. Right now is what was the top New Year's resolution in 2014. Lead content that's sexy six ED if you have the answer. We would love to hear from you. This was really got my attention today and how we have to give credit where credit is due in this is the Boston Globe. That put together. Massachusetts' most offbeat. Business stories of 2014. They are offbeat they are and I think we have to share them with our listeners because I think you'll really enjoy this that they didn't seem this morning in the globe and let's let's go through them one by one shall we. Yeah I think it's a starting at the top or this is. Titled the stop east land deal restrictions. And apparently Pritzker realty group. Bought some land across from a Christian scientist church gathered in Boston you're gonna get your big mother church didn't have much out you know where it is right want to build a hotel hotel. They cannot put. This isn't too surprised no drugstores in doctors' offices I think he has criticized I just sit there okay now but this is why are they offended if they exist they don't wanna see them. Okay analysts even from the church okay iron I don't know ground level liquor stores or bars look at other addicts OK I'm. No pornography on a hotel room televisions and lessons and this is a quote. The tight normally offered in a five star luxury hotel. Is there are there different in the channels you'd get if I don't if your cheek seedy hotel. Not a five star of the got the bad porn it's no doubt that this good stuff that well if you get the good stuff you know notable though sports stars so it's no no no per second appointment champagne porno. We're back. Members had no disrespect to through those of you are Christians does it mean. Dean you seed would be OK if it's good vs that. Your doctor. Talk in the wrong guy here I am not an expert and any of this at all goodness gracious okay so we ought to start this year and we applaud her for years just because of the Andes region hands free and. Not a bad idea is that you're at it yet it's and maybe cost you feel older collars on right now astute there was also a vibrating gloves down. Is that what they call these days I just. I don't know what vibrating glove and David could you look at the vibrating gloves style we can't get to that and all your write it when they get. There's no way because we don't even believe in five star hotel bored here. That's why we and a bit there's there's no way we can't get to the migrating from there. But there with him at this is. Pavel on dog kind of device. This is odd and I am a west so you know how do you like a bit Gamal does it tell you if you've reached your exercising Eagles. Well this one gives you a shock. Every time you don't reach a goal. In the course of the day. I'd I'd be electrocuted with in the first three minutes I'd have to hit snooze on mile arms to get out of bed in the morning I mean I'd be done if you leave this it must be very popular because. The crowd funding on the crop companies right they reached 200. Dollars. To get this device off the ground all from the all these people who hate themselves people who say it's like having a personal trainer now I don't know about Uga I would go to a personal trainer who prodded me with the elector that's a slave drive that's not that I'm looking for. All right. I streaked issues of the giant power play yet the that Brayton point coal plant. They recorded ambient sounds at the planes. Turned into a 49 minute album available for streaming. It became a musical star. You can outlets this out of your favorite coal burning coal. So tonight folks might I suggest that you download that after York during your New Year's celebration and you played it sounds pre I think I'm actually gonna do if they actually make hard copy CD because of agreed to give to my future gains as an equal there's knocking. I think. My goodness this is lovely Berkshire bank an appeal from without any news slogan this year their slogan was. We are America's most exciting. While they were so concerned that someone might steal. That they went out and they trademarked that slogans that no one else can be America's most exciting and allowed near the mother church. I don't know if that America's most exciting bank what are the other night it happened at the most exciting thing that happens in the back. What do they get the extra money every time you know and I am parties college I don't know I can't imagine why they I'd love to know what was behind. The thought process of giving him a slogan America's most exciting to only going to be disappointed. It only opens the door it if it was America's best surface banker America you know safest thing and I do you happen. He's exciting I'm expecting a rodeo horse you're gonna you're coming disappoint matter why. Are right best job in the Boston area is right there near the mountain but this is right up my Alley it's. So they they opened the Lego land superstores assembly Roland Somerville. And they'd be passed for Lego master builder it's actually New York senate snapper one. And after competition between 59 other folk and I actually didn't know that they were having his top it is nice to be quite like bill back in the day to new pavement Netanya as an illegal master builder but what I love about this is 59 people competed right. Our sixty people competed and they did this competition in front of 82 Euro at the Boston public record he got Errol. Aid is that you guys have played your audience you know. Got a lady your audience. Outlets and our last we're gonna hold it right there we're gonna continue to rest of these after the break what was the top New Year's. The lesion in 2014 will it was to lose weight. Which something tells me that's probably the top resolution every single year Steve knew this in heats in Worcester. And listens to a regular basis and we appreciate him listening appreciate all of you listening as well which are out one more question we'll take a break and we'll continue these wacky businesses that came about in 2000 and fourteen what year did Times Square celebrate New Year's with the first ball drop and it's probably sooner than you think. It was more like more recently I think it's more recent in my mind then then I would have thought I guess short 1849 the answer is no reason that that's their accounts and that's what most people are thinking what geared to Times Square celebrate new years with the dropping of the ball for the very first time. Texas at 68680 will take a bracket will we come back more wacky businesses that got underway in 2000 port. Yeah this is the financial exchange. On the financial exchange radio network.