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1-9-15 Full Show

Jan 9, 2015|

1-9-15 Full Show by The Financial Exchange

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If you're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't it makes sense to get professional advice to make it last 8668106. Fort YouTube. Securities offered through securities America ink member finreg as a PC an advisory services offered through securities America advisors and Barry Armstrong representative arms and advisory group Ministry's American companies are unaffiliated represented as of securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state goes to grocery. Can they. The basketball or. 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 com for 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 a. According to a recent survey conducted by -- more at the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance light tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't done your cleaning. Before you write that check pick up the phone and get some expert advice a lot firmer crashing into Allen has put together a brain you guide for 2015. Called meaning for procrastinators. You cannot put off this call any longer. Call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call a year free procrastinators guide right now at 866. 84856998668485699. Okay. Our lives hold on your checkbooks and did your portfolio break. It's time for the financial exchange with Barry Armstrong in Kim Keller again from Wall Street -- you're street Berrian team that got you covered in the financial exchange with Barry Armstrong and gene Kerrigan. Doing play. Terrific to have you with us today. And here and you're listening to the financial exchange and to is with me on this Friday morning we have so many things going. Jackets you know a lot of times we say this that this really is one of those days where there are so many things going on some things to chat about yup. We had a huge jobs report. This morning and we're gonna talk about that in momentarily. Of course we have to talk about the fact that. Boston won the US Olympic committees did. Four the Olympics and I am going to say right now sitting right here tonight to us all morning. Yesterday I said to chock there isn't a snowballs chance in hades that Boston is gonna get that did and lo and behold and I actually said on Twitter last eight. Oh boy obvious are ideal. I don't know what I've talked. A tough path. So. It's a big story certainly in and it's got all kinds of you know support and it's got a lot of people who are not very happy about it marine try to talk a little bit about post. It's a very polarizing issue there's almost no one here says well they come they come if they don't they don't it's either. You love it or you hated by one of those issues that has sharply divided people in and around Boston I tell you something I think it's gonna get worse before that gets better too I think the more we lost or the the sharply divided I think the more we learn the more people are gonna love it Horry. I really do look I I I don't and I just from a personal perspective I'd love to see the events but I don't want the chaos that goes along with fifty expands the traffic this that whatever. Well someone that we we spoke on. Are ready we had to preachy and so you'll see that we had the pre tape with some against it in and when you hear some of use reasons. There is he's very sensible that legitimate so we'll let everybody make their own decisions but that's coming up a little bit a little bit later. Also this morning we're gonna talk to Larry Kudlow the Cutler Cutler is gonna tell us about these jobs numbers which is incredible best job numbers best job creation yet 1999. We're gonna talk with G child who promised today yesterday he is Buhner Portsmouth based JB she films and he's making a documentary. About the market basket battle and I think this is going to be a fascinating story and were hoping that we can get a terrorist acts or act an expert on terrorism. Because of course what's going on reference I note David and I have been sort of you know. Just sitting and staring at the television or mourning him watch one cable network mean watching another and yelling back and forth at each other about. The situation in Paris and what's going on it's unbelievable. We're just talking off the air good jobs report today market's down though I mean is every. It's gotta be that everybody's paying attention this right at me and just look at how reminiscent is this the marathon bombings a couple years ago. This is it an action I saw Ed Davis on just a few minutes ago one of the cable networks and as such were three other experts from Boston who were on because they're asking advice. Because it is reminiscent I mean it's very strange we have a set of Brothers who weren't out there in one location outside of Paris holding hostages. Now we've got this crazy. Hostage situation taking place inside Paris and it appears that. The two are connected to one another. It looks like the people who are holding hostages in Paris are were responsible for the police officers being shot yesterday yeah. So it's just horrible and by my count. At this point. We had twelve people who died. In the magazine we have an officer who was dead that's thirteen and now we have two more people who were killed this morning to. So you know what we're fifteen deaths are ready and a number of hostages being hole held in the east two locations so. We'll talk a little bit more about that a few minutes of where talk about you know what YE debt has such an effect. On all of us here in the state. About let's go back to the jobs report there were 252000. Jobs created in the month of December it was anticipated there would be some. 236000. So that was a beat. Verses. As he. And unemployment lets it get that out first. Unemployment has dropped to five point 6%. That's down from five point eating November. And that's compared to last year at this time where unemployment was six point 7% that's a pretty dramatic drop yes it. There are any of when you look at a lot of the top line numbers a lot of them do look pretty good when you dig a little bit deeper some of the supporting facts aren't quite as strong in a particular. One thing that we've been talking about all week was looking at what the participation rate numbers came out. What we saw there it fell to us it's a fresh low of about 62 point 7%. That ball below where we were in the last couple months after actually seeing a bump in the participation rate so. You know on the surface that's not great what you're seeing right there and I think that you need to really see if that trend does continue right because it seemed like we have stabilized right around that 63%. Participation rate. And if in fact we do continue to see that go down that something that you don't want really wanna see going forward other thing. That was interest in here. Was that wages actually decline in the ground and that's something that I think. You know again it's one month and it's over a short time in its in its in at a specific time peered where you don't necessarily see stable waves at the end of the year anyways so. Well let me ask you this. Is there a possibility that we saw job numbers increased at a lot of those were seasonal jobs. And a lot of those paid lower so when you average that our wages may hear that they have gone down because really we've added jobs that were not these top high end wage jobs. Keep in mind the BO last corrects for all of that that's built into the season Audi they know that most of those jobs are gonna be lower wages so when you look at what they're telling you here there's the saying even with that adjustment. Wages steel fell and that's so that's that's what's a little bit disconcerting yourself. It's you know I think if you're greeting this report top line numbers obviously come through swimmingly. The ones where you start to begin a little bit deeper. Aren't that strong so I think if you're greeting this jobs report actually I give it somewhere around a B minus one Dawson bell. You six was down however that's overall unemployment. It was down to eleven point 2%. Overall though folks we've we've added two point nine million jobs in the year 2014. That's the best year. That we have had for job growth since 1999. So. You know we come out of which come out of 2014. Was more jobs than when we went in. Where jobs are what we've had a the last few years. That can't be bad break that just can't be that. No it and look what when you look at this the overall employment situation. We are now still at the best place that we've been in the last five and a half years right now so. Regardless of what some of the underlying numbers are. We continue to show more overall strength there are certainly pockets that need to be cleaned up. And there are certain issues that are still persisting stuff such as stagnant wages yes those are things that if you continue to see unemployment fall. Those will take care of themselves in the second half. Of a recovery typically so you know wages never wages are the thing that you out of a recovery wages don't recover and then all of a sudden everything starts to go great what you typically see. Is things have to get better and there has to be real pressure. On companies to raise wages and that's what I think you may start to see in the second half of this year. Well just to show the statistic with everyone because I just think it's sort of interesting glance toward dot com that's a job site. Did a survey of 900 workers and they asked those workers if they were getting the amount of money that they thought they deserved most said know. And 35%. Said that their intention for 2015. Was to tell their boss that if they did not get a bump in their salary. I'm out here that's what they said. I think that's very interesting now I would I would be willing to bet don't shoot the Jewish you can take that 35%. Followed them throughout the year and see if in fact this is really what they do. I think they'll ask for wage increase I'm not sure they'll say I'm out of here they don't get what it is they're looking for but. Having said that one of the things that glass door. Found really interesting about those comments. Was that in the past five to seven years when they've asked the exact same question most people have said I'm just happier have a job. Yes I mean it's it's it's good to see that people are saying they're going to leave I'm gonna guess out of that 35%. I doubt you seem more than a quarter of them actually safe sure. What most people just don't have the ability to work up the courage to do. But I think what this speaks to is the idea that. Confidence is coming back in the American worker. I think people feel confident up to even make the comment even if they don't intend to do so. Whereas in the last as they said five to seven years when they asked people. You know how they felt about their wages they said they were paid too low they asked him what he can do about it they said I'm glad I got a job. Yeah they have the confidence even a candidate tell my bars to stick it exactly know they didn't have economic confidence so we are seeing worker confidence come back and and that's a good thing we've we've seen consumer confidence come back to a certain extent and now we're starting to see workers were confident. There will be a percentage of those workers who faces packet there's more jobs out there to. Who will say. I gotta have increased articles where. Death and I think that. Again those are the types of forces when I talked about you know starting to see that the conditions being laid for potential wage increases in the second half of this year. That's really what you have to get to his you have to get to people saying look my wages have been stagnant for a couple years. I finally feel confident enough to either ask for wage increase or go somewhere else to find one right that's what you really want to see. From a healthy economy. Unless you've been living under a rock for the last 24 hours you know that the US Olympic Committee yesterday made the decision that Boston. Would be its choice when it comes to the 2024. Olympics this is of course not the end of the road by any stretch of the imagination. After a year a lot of work by some people here in the Boston area this is just the first hurdle. The next step will be that he will have to they'll have to present a bid. And then that bit has to be in to the International Olympic Committee by the fall. And then the International Olympic Committee will weigh all of the international cities that have been put in for bid. And make a decision by 2017. So what would this mean to the city is that a good thing is it not a good thing who's supporting it and who's not. We're gonna talk more about that right after the break you're listening to the financial exchange. Barry Armstrong and comparative. Right here on the planet to exchange radio network. According to a recent survey conducted by -- more at the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month well it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice. A lot firmer crushing into Allen has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer. Call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance coughing you're free procrastinate as guide right now at 866. 84856998668485699. Investors searching for relatively low risk investment that can easily be converted into cash often turn to certificates of -- 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 with your 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 FDIC rate effective November 4 2014 this is very Armstrong and. Joined today by estate planning attorney Todd looks from the law firm Cushing in Dolan. It's time for your legal exchange quick tip of the day. We're 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 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 interest in atlas. 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 complete again. True you've lost all control over your order anymore I worry about it that it's going through 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 just said Barry took their creditors and doesn't necessarily have to be divorced does it could be a lawsuit business failure and could be any creditor 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. Our rate 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. Whole free 8668485699. All the best in business is right here Barry on the stroke and can carry him. On the financial exchange radio network. Welcome back everyone terrific to have you with us today we got all kinds of things to talk about but the very first thing we would talk about right now. Is this situation with the Olympics coming to Boston in 2024. That's that's that's an overstatement we need to. Well Olympics coming to Boston in 2020 or. I. I'm one of those again and I've said this from the start I would love to sit down and I would love to go into the track and field I go to rolling it I'd love to go to those events I agree. But I don't want the rest would if I wanna go rule put in some other city and I'll buy a ticket to go and I don't applaud him in our parent struck are gonna come watch us compete in the Olympics if it's somewhere other than cost. Obviously. Dave my parents have never missed a sporting event yet I mean if needed it and I'm Italian and when I finally make that US curling team okay. Well that wouldn't be in the Summer Olympics my friend this is a you know I hope this is currently at a ethic knew that the new. It's a new category they're adding but Krista asked if he is from the Boston Herald and there's been following this story very closely. And that was at the press conference this morning in Boston to your little bit more about what's and Chris thanks for joining us. A battery. All right so first off sort of updates on what happened at this op press conference as we were there this morning tell me what was the reaction who was speaking in what you hear. Just this risk appetite about twenty or thirty minutes ago it was me in my mind lost. Governor Charlie peek. John issues at a at a construction also took a leading this spot between 24 pushed. And they were officials from the USOC as well it'd give basically. They making a series of pledges mayor Ross said that no taxpayer dollars will be spent. On any of the venues either in the city of Boston or across the commonwealth. Yes the Fed when asked that there would be no referendum that voters wouldn't have a chance two vote on this so back and about what how do you gauge public opinion he'd be he basically just said that there's going to be you know be you can talk to people about that but. That what people hear about the plans that they're gonna do it's going to be this excitement about the Olympics and the people ultimately come around the idea of hosting the games here they've also announced a series of dvds forums and events around that the city as well that does inspect more information about about the plan. So Chris you're at it from the other side and one of the big arguments anyway is the fact that. We don't know anything about this plan and no one saw this bid before it went before a day US Olympic Committee. So Windiz does mayor saying we are gonna be privy to use some of that plants. But I certainly could really get. Where would they claimed there was reason they couldn't submit the bids in the first place is that they are now competing against cities across the world so it certainly is releasing details of Boston's big foot and potentially dissident with. Other cities around the world they're also working on their bid I'm speed but at the same time in the than their did day. This is going to be the most trips carried product that in Olympic history. So I'd imagine. Certainly will be you don't boy beat out I don't know we're gonna get the full bid you know they submitted. Two to the USOC but that's obviously people a lot more questions about. Exactly what that can look life. Well I think the big fear is that you know it's it's just find talk big talk about how the Zogby privately funded. And then you get the bid and then all of a sudden you know the luxury tax goes up in the hotel tax goes up in the dining tax goes up and so on and so forth. And people have to start paying more money and I think that's a real concern for those who are against the Olympics. Well that's something that I think they're gonna have to do is be you know it'd basically. Into those questions they think up until today this is sort of a potential possibility Brett. It's it's very real as a last night so and I think people are talking about this as a very unlikely hypothetical but they're gonna be some really serious conversations. They basically what they've been saying today is that you know despite the public investment part of it. You know roadway transit things like that they'd say yeah these are things that would have to be done anyway. So at least now deleted for the games obviously people the other side to get it say that look you know we should be doing it on our terms of you're not just because you were thinking of becoming. Absolutely I mean to me it feels like. It's great idea to get the infrastructure taking care of and maybe if it takes Olympic Games to do so but again he's you have to wonder how this'll be fun and I think that's one of the biggest concerns for a lot of people at this stage. How will this be fun. Right absolutely and I'm sure this can be more to combat it also and so people are going to be taking quote from K he is the players here in the city into the stands to benefited by there's a lot of money on the line they're allotted. You know people that will will profit off for the games which is necessarily a bad thing at all but I think people want transparency and they want no doubt in light of what we're talking about here. Don't think any of that is bad although what how I would want to know if I'm a taxpayer in Springfield. I'd wanna know you know just how they do again going back this idea of funding because of this ends up falling on the taxpayers' shoulders. What am I do you know how my get a benefit from that if I don't a little cafe in in Springfield. Right exactly and I think that's but that's what they Wear it's spoke with the Padilla a couple of if you pointed out they either governor speaker basically had had it and proposal was for the entire state in terms of the way to new government being not to be bought the country. Administration so here we have the Olympics for Boston and its first day in he had tested basically find a way to do it it's great deal that would spare that this could be good for them as well and I think these are starting you know that the I think people those cities RD field of boxing gets. You have 90% of the the attention the the resources so that's something that's the last to be figured out as well. Sure absolutely. Well it's going to be very interesting isn't it I mean it could be very exciting that's for sure and already we're getting this international spotlight. Just by by virtue of getting the big here in the states which I think is very exciting but there's lots to work. Absolutely and and putting away disguised it over the next year to this will be you know each huge story out. You know this is by the committee that it has really just that started it well Steward does. All right Chris Cassidy thank you very much for your research cern will call on you again if you don't mind. An arid have a great weekend. Well look at as he mentioned that the two big issues that I CR one obviously. You know until you actually see the details of the plan and and what exactly is proposed how how you gonna papered different aspects of it. I think their questions but beyond that the one that I also get twos look you have a number of folks that. Don't leave in Boston and don't necessarily live close to Boston in the state. And you don't necessarily want to put them on the hook for something at the tend to give absolutely no benefit and a and you know people say oh well look early you know 5% 10% of people that are living West Springfield well. But what if you're one of those people west right what do you what if it in a different situation you wind up being one of those people you don't just say okay make them pay because I don't care access to that if it's gonna come back to you at some point so. I I don't think that there's been enough detail at this point to be able to tell. Where everything's gonna come for. Listen I gotta tell you they talked about an expansion unity convention center in Boston yet. Taxpayers in Westfield are paying for that conduct those that are expansion now as a taxpayer I'm saying to you. I live in west field. What am I getting from what tangible benefit to I guess right and so this could be my seen question I'd be asking. For the Olympics in 2024. In Boston yup. This 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 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 your bank a step ahead minimum deposit to open and -- annual percentage yield as 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member F. The secret effective November 4 2014 this is Barry Armstrong and I'm joined today by estate planning attorney Todd what's key from law firm Cushing in Dolan. It's time for your legal exchange quick tip of the day we're talking today. About the different ways that you can owned real state and taught I wanted 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 here. Kind of makes my teeth itch. Really you know GAAP putting your kid's name on anything while you're living it 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 your order anymore I worry about if the kids go through a divorce an 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 does it could be a lawsuit business failure anything. Could be any creditor so they don't basically that creditor has the ability to get the asset to paint 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. Toll free 86684856998. You're thinking about retiring in in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when the optimal time to collect your social security and did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injured children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Port to kill. Securities offered through securities America ink member finreg as a PC an advisory services offered through securities America advisors and Barry Armstrong represented at arms and advisory group Ministry's American companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. 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 8776917900. 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 can carry him. On the financial exchange radio network. Welcome back everyone the financial exchange great to have you with us on this Friday and can carry him along with chuck it's not a and Alex are first trivia question by the way. Very quickly here he's gonna get this out. Because I apologize to you off the top of the show Oca because I said that there was in the snow balls chance in. Held that Boston would get ended. Well. Last night I said to my two kids my oldest of whom has taken Spanish for about six or seven years that certain planes are accomplished. My youngest who has taken for a year and a half and I'm not sure she knows we in Spanish is being spoken to her much watched being bilingual. Does Montana means. In Spanish. And simultaneously they pose a mountain. But he doesn't. Well it's a Haniyeh. It is different letter and has that healed overeat it and united and hey I am just telling yo. Power went down at my house last night the same way our listeners responded yesterday and trucks getting very technical group everyone's against me it's the whole world's against me are you sure this is the only thing everybody's against you acknowledged. That's the only thing you may want to object. Again I'm just trying to focus on the you have been atop we tells critical and it's one show and I'll week. It's overwhelming I'm moralistic you know that moment that your in favor of the Olympics but then you realize. It's going to be the Summer Olympics it's over the Winter Olympics. That is not a good an honor to look at that was not a good five minutes ago I got that look Maria when he said what they'll be great hockey. Oh. One clearly now I'm a 100% against us and for our viewers are first trivia question. State is the leading gold producing state in the nation. If you know you can text that it takes 8680 we'd like to hear from the sport in which state is a leading gold producing state in the nation. You know I mean just think about the old gold rush. Animals was around for providing real studied enough that we have yes Jack I want say I was not allowed for the gold I probably I was. Barry I was gonna say that it. Which state 8686 AD again we'd like to hear from you where talking about the US Olympic Committee. Awarding the bid for US city to Boston for the 2024. Olympics got more ago here folks you know this will be another two year process before the international committee makes a decision by the way. So many international cities that will probably be facing the likes of Paris. Budapest. Berlin. And now another one. Through Azerbaijan is going to be on the list also there expecting. Really yeah. I don't think that's an adult thinking back to me it at that you what is I think it's rock too yeah Bok to Azerbaijan. While Azerbaijan. Baku now. That actually confirm this. The buck who Olympics got a good ring to it. Back then maybe it's actually it's a bit worse than most people think you believe that cruise thinking about it I. So this is actually got about two million people there in the metros around elites in big. And Boston U I it's a big city school well anyway there's going to be a lot of international I think it's going to be in pretty tough guy to get this did but. Austin will be going up against those cities that we mentioned and most likely a few more we don't know. At this point. There are people in the city of Boston who are very much against this and have been out really fighting this for the last year what's it was announced that this committee had been assembled to try to put together visited. And one of those individuals has Crist Dempsey he is the co chairman of no on post Olympics. And for the broadcast started this morning eighteenth to chat with Chris about how he would he thought yesterday once this announcement was made him why he feels when he passed. Chris thank you for joining us this morning. Thank you root out beyond so this was not such great news as far as you're concerned when the Olympic Committee announced yesterday that Boston would be the city that they'll use for the bit. Well look it would not surprise to us into the boosters say they at a 70% chance going into this is very much expected. But at the same time I think is very concerning are in very concerning a lot of people about that you say that they've been debated progressed to this point. There's been no transparency not a single public meeting. And the boosters still hadn't released the bit it should be a public document it should be out there how can we decide whether this is due to Massachusetts and that we are all. We'll give you a sense of why you think you might not be good for Massachusetts. If you look at the history of Olympics a around the world they really don't have good outcomes or city that's true you know anywhere in the world but even here in the US. Typically when that will be much to stop but it stops that you don't really need you don't focus on the court things like infrastructure. And health care and schools look a bit things that are really gonna make our life and cheese too better and it dated date basis not building a stadium oh. Well those who are in favor of this would argue that this will be an opportunity to build infrastructure. You know look we've heard and seen that but we also haven't in their head so it's really hard take their word for without seeing ego. We would prefer to build the infrastructure without having to go all the stuff that we really don't. He could get that very risky and expensive beats being shot to about offered. Well let me go back to the two up playing devil's advocate here and those who are in favor saying that this is a way through private funding. To do something about the infrastructure vs putting it on the taxpayer do you think that couldn't possibly happen. What do you look at this through in the game in other cities in particular Vancouver and London. Important boost city's private developers promise that they would still be Olympic village at no cost the taxpayers. And in both cases after the bid was awarded the developers walked away from that meeting taxpayers on the hook for hundreds of dollars. So what would you like to see happen because it. Obviously this decision has been made up to this point what what do you want to happen from this point forward. What the main thing for you right now I was more transparent we need disputed bid when you all the details on the it will be released an independent observers. Take a look at it right now I would only that mr. Bennett in the bid beat me about the promises to the USOC. And it's time for independent Bible that they can look and say. No that doesn't work. Chris you know it's hard for me to gauge because it took a lot of people didn't take this very seriously up to this point. What's your sense when it comes to the general public because the other side would say they'll Lotta people are in support of this. Well people are very excited about the idea of you know having the world's attention on it and what Boston is a world class city gaps we deserved that attention. But we also think that people know there are furious drawbacks Olympics. The big pocketbook did a poll in June and it found that the more information people. That it. The less they like the idea we think that's one reason why the masters haven't made it public they're worried that the public is in dispute in the project yet. We realize at this point the public. Whether they like it or not will not have much set. Well we've entered an opportunity for the public to win we think their you know there are the people that we can and we also think that. This should be a statewide issue not a local one what taxpayers and prince still taxpayers and Wooster they're the ones that are going to be on the hook for the Austin. And dating they're represented in effect. Well Chris it's it's certainly a story that's gonna have some long long legs so we hope that we can chat with you again about this as it progresses. I Pruitt and you're on thank you Chris Dempsey from know on Boston Olympics. And I think you have to appreciate about curses that I think he's reasonable you know he's not crazy here mean he recognizes why this would seem attractive to people his big issues that there's just none of transparency. That we don't know enough about this. Bush and again the the taxpayer typically will not know enough about this you know if you look at how it's historically been handled. In other cities. It's pretty much comes from the top down it says look we're going to do the Olympics and that's how it's going to be on her. And I think that that's the danger is that you say okay. You know you you don't have any formal and even leading up to this there was any formal. You know request for information you right there was that there was no proposal presented to the people of Boston or Massachusetts that said. Look here's what we're proposing. Are you in favor of this or not it came from the top down again. And so when people say oh there's not going to be taxpayer money involved and it's look until until it's signed sealed and delivered I don't believe that there's not right taxpayer money and. On and I'm not so sure once signed sealed and delivered that that will be true because you know I'm Chris Cassidy said to us when he went at that meeting this morning with the mayor with the governor. Mean mayor says we're going to be is transparent as we possibly can but having said that the bid is most likely never going to be presented because it's competitive and they're trying to keep. What did that did secret from other reason and so which makes sense of course it does but having said that that means we're gonna put trust in the people who are running this and they tell bus. But there's got to be taxpayer money it's which is pretty tough to get a video it. Trust us on this exactly it what it what did you know just a moment ago Chris Dempsey said. That's exactly what they told the taxpayers in London and in once it was all done boom they were that the attacks was lower. Yeah so it's it's a scary thing I think. Yeah I I just I and again until you have full transparency and until you have it there it beyond just the transparency you need something to hold politicians and people were developed in this accountable. And I and unfortunately there's no way to do that effectively you don't have any you know it's. Alive promise notable okay how to how my you know holding that I've vote yet also after the taxes in place doesn't do me any good. Well I'm part of the problem is that you're talking about private funding while private funding is great until someone who's involved in private funding realizes halfway to the project. You're not gonna get out of this what I thought I was so they stop funding and there's a and that's it that's what happened in London in a lot of the cases so that's when the tax Payer gonna hit. Well in the as a reason why eat and have cost overruns on the Olympics it's because it's not easy being the law it's not it was OK and built the stadium and Don. It's you have to and or like here we got dorms or worse. That's my fear dorms so we're guide development that. And at least of told me we were talking about the Winter Olympics along time ago. We get some information on this thing about you know this is about you everything about me if they were very transparent that this was the Summer Olympics that's. I don't have Fredricka it was done the math I. I told the year in the month that's going to have to okay good luck trying to get ice adored wife at a minimum in the middle line. We got to take a break every week and up after the break we're going to be ten atlas. This is the financial strain on the financial exchange radio networks and according to a recent survey conducted by -- more at the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month pilot certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one their feast with an unexpected nursing home stay. You haven't done you planning. Before you write that check pick up the phone and get some expert advice a lot firmer at Cushing and Allen has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance coffee you're free procrastinate is guide right now at 866. 84856998668485699. If you're thinking about retiring I mean in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Port 22. Securities offered through securities America ink member finreg as a PC an advisory services offered through securities America advisors and Barry Armstrong represented at arms and advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. 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 sell it. 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 avoid probate and not cause unnecessary estate taxes. Tugnutt 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 8668485699. At 8668485699. 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 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 leader bank a step ahead minimum deposit to open and earn 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 2004 team. All best in business is right here Barry arm stroke and can carry him. On the financial exchange radioed Edwards I. Welcome back everyone they wanna get right to Larry Kudlow that before we do very quickly be answer to our last trivia question was Nevada obviously that's a gold producing state of the nation Chris knew that in Sudbury and we say thank you very much Chris for listening. Very quickly the next one what is the capital. Of Nevada 68680 can text. Absolutely we are fortunate to be joined by Larry Kudlow from CNBC and Larry happy new year thanks for coming on with us. That's billiards the only thing. Absolutely and there will look at all the jobs report that came out today top line numbers pretty good but when you dig a little bit deeper there's some question is there anything to be concerned of. Look I. I look at the numbers earlier. I don't think what were you worried about. Well I was looking you know you a small decline in wages there and you still had security declines in the participation rate. Yeah the wage issue. One point seven your year. And looks pretty well. Remember the average hourly wage. Actually have to story and brick hourly. Average hours work. Wait that are gives you 5% of the hour work there were I think by reports. All caught. This private org. Input to this city gather you're looking at waging. That's. The you've got virtually no inflation right up there with gasoline prices collapse it. So. If you're over 3% really. Actually about 3%. Real account that's not a bad note. Number at all. Though the low wage rates and hours worked. Our ticket that number up and I think people were expecting this much guys off. And this morning you had that bad guys Chicago and yet. I still. And furthermore. I don't want it to like. Okay. Why is at a 2% place rate I look at my actions in in twenty years. Like he ever your legislation that's all right ability. I just don't get that I've ever read that. I think the job what was very good I mean look at street that beat out that. So when you look out now when you factor in so that the fact that we have improving jobs picture. As well as not yet cheap gasoline in the US what exactly is your outlook if you start to look towards the rest of the a year in 2015. But I now look you got stronger dollar. It's wonderful makes us super competitive he inflationary. Is that the climbing oil and energy gasoline and gas prices. I don't see any other obstacles to we are worried that that. You know Obama cared taxes and regulations yet to deal with Republican congress that will try to do. I. This initiative. We're only this trend line growth rate year on year and so forth from two mystery that's what it looks like. We need more. To get back for the long. Break and broke why it is pretty darn good and is another point we're relatively low wage wait. I profits will continue to benefit. And it profits of the mothers though the stock market. Like. I. And why. It. Are you got yeah oh. I see why stocks rise 0% this year. Our profits right. It's. So when you start to essentially look at what the Federal Reserve. Is projecting out in terms of when their potential rate increase will be. Are you of the opinion that it is going to be somewhere in the middle of the year and do you think that that's appropriate policy at this point. Well that's awfully good going of course I think it is viewed. Question their rate hike back. We. This inflation. I don't know. Well the numbers and you want my guess is by the end of the year. These guys target rate now at zero will be about one. And I think their. Flag. Alice. Always try to normalize. It about three years normalized. So I think that it's going to be stretched out whether it starts this in the number. Sure there's no rush. Rush. The market price is there you breakeven in relation as well though. Real rates are low. Dollar. Gold is flat. I ever bought. Paper in the past three years I never bought the argument that the mark it would that money lottery or access or reserves aren't being used so. I'd probably know I think you go look. What you. And I don't think yeah you might get it expression toward but I just. You either mark it's. All right well Larry I appreciate it coming on with us today and best wishes for great 20154 yeah. It. All right that was Larry Kudlow from CNBC. And you know make some good points especially in particular talking about. As the quantitative easing process that the Fed was involved in over the last several years. And really again a lot of that money that was going into the system. Is sitting still in excess reserves that wasn't actually going out and creating real economic activity that's what you didn't see. Actual inflation in the high single digits or low double digit simply because a lot of that money that was being printed wasn't being used in the economy right. Right so. It's you know I tend to agree with you know his assessment I think when you look at the US economy right now it's on the most stable ground that it's been on in the last five years right now. You still have some issues that need to be addressed. But I think when you look at the overall picture and again this jobs report that we got you know who knows that temporary if that wage growth. That wage declines a temporary blip. But if that is I think that you have a lot of positive things that are starting to happen in terms of jobs they can actually move things in the right direction. We'll take a break everybody you're listening to the financial exchange. It's a small community bank that you were ranked number five. In all of the banks in the commonwealth. For small business lending congratulations to you in your tank you very much thank you Betty I'll. Lot of credit goes to yield hike him when you're showed two months ago. We dug about the special program leader bank had products mom business Christmas. And because of the idea model business we got that people took advantage of that is my program. We the number of the fifth and I guess that's the attendance US be very proud. Very prior to put my team around my quote team we are creating jobs in a bad lending that money you're creating jobs and your help and motivate the economy. 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If you're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't it make sense to get professional advice to make it last 8668106. Fourteen until. Securities offered through securities America ink member finreg as a PC an advisory services offered through securities America advisors and Barry Armstrong representative from China advisory group Ministry's American companies are unaffiliated represented as of securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. Pat Boone here was the word about banks' safety. 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. This encourage the virtue of thrift savings but today. Bank accounts paid virtually nothing and that shifted from lower risk to high risk for example did you know your money deposited in most US banks could be subject to limited withdrawal. And even confiscated by existing executive orders or be your best. And that's just the first of nineteen risks explained in a new 32 page white paper entitled don't bank on it. Still think you're a bank deposits are safe. Yet this vital new white paper now call toll free 8051960. To 71 that's 800. 51960. To 71. 8051960. To 71 or at Swiss America dot. Com fight your favorite news photos and sports updates on your phone with a AP mobile from the Associated Press the new HP mobile is now available for free and iTunes AP mobile where the news gets its news. According to a recent survey conducted by Genworth the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance light tends to get in the way if you or a loved one their feast with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice the lock permit cushioning Dolan has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call a year free procrastinate is guide right now at 866. 84856998668485699. You're always hold on your checkbooks and give your portfolios break. It's time for the financial exchange with Barry Armstrong in Kim Keller again from Wall Street team you're street Berrian human judge you could hurt he's the financial exchange with Barry Armstrong and gene Kerrigan. Good morning everyone and welcome to the financial exchange this is the second hour on this Friday we hope that your doing well it's snowing outside Needham. Studio and die promises to just now for a couple hours and then that will be yet. It had a cold and blustery that's. That's January 2 of the January day you've got that right we've been following a number of stories this morning at the least of which is the story at a Paris. We've got hostage situations taking place in two locations one in a printing a warehouse. Which is north of the city of Paris and another taking place inside the city pairs moments ago. Media outlets began to reports are smoke coming from that first location. The one outside of Paris and apparently. Looks like there's some kind of maneuvering going on it looks like police are starting to move in these could be flash bangs that you know to distract yup. So that they can get in that the hostages. We don't know I think there's about seven hostages in that location. And it's the two Brothers who. Our I have believed to be suspects in the new magazines shooting who are holding those hostages. In the location Terry got close to Charles de Gaulle airport. It's speculated that they were trying to get to the airport when leaned up inside this. Speak printing factory so we'll continue to file that will let you know as soon as we know anything else. We are going to take chat with him yesterday we're so excited chart that we can chat with Jane Childs today. He's the owner of the Portsmouth based JVC films and they're making a documentary called food fight. Inside the battle for market basket I'm fascinated with the idea that Jay. Had the wherewithal and the foresight to see you that this would turn out to be the kind of story that it did and Jake thank you for joining us that's got to be my first question to you today how did you know that this would be a story worthy of a documentary. Good morning Jim Elliott great. Well. About. Summer or spring of 2013. Com I was discussing some ideas different normally do. And one of them said you know you really got to consider doing a story she was the wife of the Asia and system center and market. A story on the duel. And the market basket is. And without what went on during that summer. You know the idea of a Greek immigrant American green business success story. This. Supermarket chain. That you know runs efficiently low prices customer service. What that he'd been dichotomy on the other side that there are constantly in turmoil. What's fascinating in its own right so I started doing. And background research and somebody gave me a book to go you know back into the history of M start game. And and then there was. The rumblings in the fall of 2013. With these store. There was going to be opened only delayed. And there was a rally. And Arctic sea showed up when I saw the response. That people had. Are achievable and speak to say we need to lean on this store opening. I was like there's something really. Incredible going on here and I need to cover this story and now and blue lot I'm. It was fired I'm like you're either all in on the story like this or your not and I just decided to go. While so I would call this fate that you just happened to be in the right places at the right time is the story started to roll out. I'd love to take more credit. But you know it at that it's a fascinating story you know that there's been little earthquakes and members twenty years. With the story. This was just the latest but this was the Juan you know that explode. So did what it while the Heller C I guess my question where is he did you have access to what kind of access did you have. As that that whole story unfolded. Sure com and first oil on our. Room remind folks tell folks that this is and now co production between my company did young group. And my co producer Melissa Caylee across cart communications there's this story that was bigger than any one person really being able to tell you. I just started showing up I just started chewing up the stores and I just started showing up at headquarters and the encampment that was. Street and market bet it is induced private company from Perry cracked company. And after a wild because gradually. On the people who were involved that the people who were the architects. You know of the rebellion. They are just began to trust me that I just you know that's what I did it district showing up. Every other day. To cover what was going on and they also embrace the fact that you know I was here to tell an honest there. Story. I was looking to do PR piece. Market basket I wanted to understand what the real story west because I band big jet and a lot of people got that this could have huge ramifications. However it turned out. So was the real store Taylor was also had done. I'll destroyed it was portrayed in the media. Well the interesting thing is we are we are. Beginning stages of finding that out because once the tentative agreement was re. It was a gag order. I'm pretty much everyone associated with story. So they could speak about store openings they could speak about you know how great it was to get back to work and get back to the grocery business. But there was no. There was to be no talking about the summer market basket what happened. We're in the fertilization. Of that agreement on December 12 I. Those people now. Have am I willing to talk with you and we're we're setting up those interviews. To find out what happened. So talk to us a little bit about the the status of the project right now really where you're going from here on what. What other work has to be done what other things are you looking for. In order to complete it right now. Sure well we want to kick start camp in a crowd and campaign. Com which and Sunday night at midnight. But we did reach our goal. 50000 dollars and sustaining on. Which will allow us to. You know up up until now. I haven't been cater compensated a dime for all the time that was put into this. And that's okay that's what I signed up port that's what documentary film it. So that's all Palestine the talent that we need to finish shooting the interviews. Other shooting we need to do do some more research. Sixty plus hours of footage. Now in like eighty hours that we shot. To go through that and pick out everything that we need and get us into the rough cut phased. Editing. This piece. When do you expect. To be able to put out a final product is it going to be this year is gonna be next year how long do you think it'll take. We're going for a very what does it fitted in this world very aggressive. Deadline self imposed deadline we'd like to have what we call screen double bird scoring double copy. Available sometime in June. To show. And then a final peace release of bolts down by August August of this year. And when you screened at green screen that's four I mean obviously if he gets more partners and it correct. Right I mean we're gonna become I don't know where we're doing some editing toward Berry stated Iraq. To show to other potential grand. You know grants or applying for about additional funding underwrite it they want to see what you. So we're doing that as well but don't be like to have something that you'll bowl. TT gets its feedback on it by June and and final. Production post production work as something that's the least doable idea by August and looking at you know television. PBS potentially. Doing the film festival circuit theatrical release some of these independent. Cinemas a low and and also the date yet to account for online. And other online distribution as well but that the international store it's a regional companies and it's a national story. I only impacted impacted jobs numbers. Four much of August and September. JJ can you which you can win an Academy Award for me. Okay yeah. He'll he'll be the first. Oh okay and that though you've interviewed. The folks at MIT who are. Using it as a case study and try to unpack. All of the market went around the Washington DC. Secretary of labor Tomas Perez. In the National Press Club speech on the mark that. And all did a round table and afterward and you market. And we were the only camera crew allowed him to cover. So you know they think the nationals. And we hope it in other low as well. Dated than we were covering this story did it was in the business of professor from Cornell who was from that point forward you are smiling right. He's incorporating it into Hughes curriculum and was planning to. Incorporated in the future even more so so absolutely a national story that I think will probably be used in classrooms. And it seems on the loose here is the idea that you know all a lot of you know I run a production company I've client network where. And a lot of them say well you know we bought yesterday and new avenues CEOs somewhere in Europe and I don't know who it is. And they just go back to work. And a lot of time. I want these companies as bowl it doesn't really turn out that well in the end of the of them working people at large rank and file employees. And you know this as an unprecedented case where. A group of people saw their feet yelled fired. Two amnesty you know put in and simply said no. I I. I think there was so many teams associated with it the fact that these people could organize in such a way without being unionized was incredible. And for the first time in I don't know how many babies in decades the American workers stood up for themselves and and we haven't seen that happen for a long time so. And a lot of our bridge and a lot of coverage that we have. It's from a lot of these everyday people who are putting their jobs and not the names on the media. I'm who put their jobs at risk and in the moment you know we're talking with them. Where is every possibility. That they may loose their jobs and that the longer this dragged on. The greater the possibility that there would be no company to go back. Excellently. It's a fascinating story we wish you the very best supplies keep us informed about how it goes you know we'd like to follow you along the way here because. It was a story that was fascinating to our listeners. And I know they'll have an enormous amount of interest once that time comes when you win that Academy Award. Before you go jade what what's the what's the best the most kind of marketable way to get people they wanna get involved and help ya know the campaign ends on Sunday you reach your goal. But obviously that's expensive project of what's the most marketable way people can help you. You know with this project. Sure well. Up first Sunday night they can go to kick started a conduct a full explanation of the entire project. Arm's search food fight. And that would give them information that they want to become part of this project we beat must happen I'm going forward the contribution we get you know helps a little further along in the film. After that we do have a web site. Cult food fights don't dot com. Call one to get a WW dot food fight film. And we will be providing a bait and and you know really engaging we have over 533. And at last count Packers. I'm so there's a lot of interest in the story and will be you know public and lots of updates clips like that keep people informed Howard. And tested to a child's owner of the Portsmouth based JBC film. And the documentary is called food fight inside the battle for market basket thank you sir very short Larry you've backed deadlock. We'll take a break everybody will be right back. Barry Armstrong and can carry him through. Right here on the financial exchange radio network. Investors searching for relatively little risky 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 current annual percentage -- as 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member at the secret effective November 4 2014. According to a recent survey conducted by Genworth the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month well it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice. A lot permit cushion into Allen has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer. Call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance coughing you're free procrastinators guide right now at 866. 84856998668485699. Investors searching for relatively little risky 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 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. Hi I'm Joan Lunden and appear worried about your parent or loved one living alone like I was. And you are reliable senior care information. And call a place for mom. The nation's largest senior living referral service you'll get free information on assisted living alzheimer's care nursing homes. Even important financial information. They had obviously researched every place not just given me names. They found me a place for which she could afford and it was magnificent. We're now. Very confident that she's safe and they just helped every step of who can't thank them and so if you're struggling to. Find reliable senior living information call place for mom this is a free service and you can trust them to help you. If you are struggling to find reliable senior living information for your mom or dad didn't call or go online to get the free help you need during this turbulent time call now 804677530. 8046775. There. Text your questions or comments or 68680. Its Barry Armstrong and Ken Kerrigan on the financial exchange radio network it. Welcome back everyone. Let's answer lush trivia question and get them the one on the teeple we asked what was the capital of Nevada and the answer is what you know. The capital Nevada. Carson City Carson City. You got it and Joseph knew that from Gartner. Iranian Japan teacher today making Joseph very naturally put another question out there. What city is known as the biggest little city in the world that and I definitely know you do never been there I have you have yes I have. I have been there are I see if I see this well neo giving Texas its X 8680 number one bit that the biggest little city in the world. I did a Lake Tahoe. The top that's in California. Now. Yes yes true Oca. I'm just completed that you are now in that wheelchair bound pork they have before you go I OK okay sorry momentary glitch in the matrix. Because we are getting some good response this just to let everybody know yes. Search food fight film whether it's on Google or whether time kick start yes Eric. It's not to be confused with chuck and I starting our own we're trying to make the largest food by in the world we act campaign Arcadia as well so that's not going very it's not known to make sure you use the word. Bill yeah I think we have one backer now well 00 dollars raised for. We did. Make the potato salad. I needed that it did yeah oh yeah he made to its he did I'd never and it didn't follow up it was phenomenal I'd eat it but from what I saw I mean it looked good. If you and is also food fight them dot com top right button as the key experiments that so that's where you can help I think that is just a fantastic story. And it's it is a huge story we stick to worldwide week's inaugural mean nations like what the when's the last day on the show that we did not get a tax or multiple text saying we support Arthur to do more when the last thing that happened. For eons I never was 1984. Or text messages and before the story starter we are getting those taxes I. It's fascinating that this guy just happened to be at the right place right time that it is an atom believable oh yeah once and change into a story about this family. And then there he was so it's fate it's meant to be and it looks like that's gonna go pretty darn well for him and if he can help in that be terrific. Chuck Wall Street is applauding. A beer. So at this morning. Yeah we're gearan up with the patriots came tomorrow would get the NCAA. Championship football championship on Monday night. No doubt you can put some beer in your fridge right for these games I'll I'll I'll be loaded up so uh oh. Beyond hydrated for us or are you I just know what I wanted to be having half of the year US fifth. You ready to go to navigate today just hit digest visitation or remembers again economic happened here today and you'll be good to get a hit. But Britain there is it appeared at the Wall Street is celebrating its actually two Beers but it's it's really the distributor ship of the ownership of these Beers. And this is really an amazing story and wondering if you have had a chance to look at this have you seen this I haven't OK so. Did name of the company is Constellation Brands and say they also own Robert Mondavi. Wines. He also owns the Coca vodka. And black velvet Canadian whisky so they're big you know liquor distributor ship and they owned corona. And they also own mode Dello Beers yeah. And they bought these that they get to two years ago the two they got into the beer business about two years ago. And since that time their stock has gone up 100 and 85%. On the sales of corona and Della. They just announced yesterday that they seat 2015. It's a very healthy year for the the stock rose 5% yesterday on that word. And when you look at that they are outselling. Their competitors which would be in bad of course that that would be Budweiser course. Sam Adams. By you know an enormous amount easily beating them out certainly over the two year period which they bought this these Beers. Companies so I'm they are Wall Street's favorite alcohol beverage provider. And it's it's really pretty amazing. Yet they've they've seen quite a bit of growth from their beer brands in the last couple years. The one thing that gives me a little bit of pauses obviously you know that the company if you look at it today. If he's trading act you know fairly steep multiple compared to a number of its competitors it's you know if you if forward earnings to about 25 times forward earnings. Which is a little bit steep if you look at the rest of the sector okay. The rest the sectors about when he won 22 times right it's about a ten or 15% premium so. One thing to be concerned about if you're looking at it but they they've done a great job really continuing to build the momentum for those brands over the last several years. Now it's it's interesting or are you a corona drinker you know. A local owners in the summer and things like that I I don't drink a ton of them might tend to us stick to more local breweries if I can. But I rock and in Boston for is not. Being helped by this for sure so drinker Sam Adams if you possibly can. I will let you know this is breaking news yes USA today is reporting right now. That the two Brothers suspected. In the magazines shooting are dead. Send. It's very Armstrong and Jim Kerrigan 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 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 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 -- 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 strong and. Joined today by estate planning attorney Todd let's keep from law firm Cushing in dole and 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. See 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 in using only missed it kind of makes my teeth itch. Really you know GAAP putting your kid's name on anything while you're living it 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 your order anymore. I worry about if the kids go through divorce an 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 does he could be a lawsuit business failure and could be any creditor 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. Are right 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. Toll free 8668485699. If. You're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Court YouTube. Securities offered through securities America ink member fin -- SIPC an advisory services offered through securities America advisors and Barry Armstrong represented at arms and advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. Hi this is very Armstrong from the financial exchange recently I've been hearing many reasons why we should consider buying gold geopolitical uncertainty 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 for 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 8776917900. 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. Read. Follow him on Twitter I'd KK interrogate him you listening to Barry Armstrong and interrogation. On the financial exchange radio network. All right so the biggest city in America. Is. None other than Reno Reno Reno Nevada which sits on the Nevada side of Lake Tahoe disarray so that's. While it is such that I had intimately Tahoe before a Raymond knew that he Cumberland Rhode Island. Just terrific and he's listening and we thank you serve very much for listening and hope your enjoying it will be happening terrific. Friday definitely and we are now fortunate to be joined by Alley gras screen from Politico and Alec thank you for coming on with us today. It an Alley this story that really kind of developed over the last couple days with President Obama essentially putting forth a plan. To try to make community college. Free and and what exactly are some of the the key ideas that he's working on here. Well the proposal at these army program at a senate seat that an ambulance in the coming ball where any speed into all of by. Are eligible for a two year the Greek community college. And the ideas basically you know we're gonna need a lot more job in the coming years where in patently not college education and Obama tried to get more student and rolls and getting the work portraying that they need or either. Yes start delayed for years decree. Well when you talk about the program that is starting up in Tennessee right now you mentioned qualified students what exactly the qualifications. That someone needs to have to be eligible for the program in Tennessee. Bubbled a politician at our local. I I understand. Apparently are appetite these ethnic or Obama proposals in it app currently the Q where I'd cheap Indian girl all or part time. And in Rome in the back into view and the girl all kind. And it out and a Earl proposal were able that go to apt that would expanded support it. So obviously nothing can be completely free so where exactly. Is the funding going to come from in order to cover this type of tuition plan. At the big question right now all the administration has had an art but it going to be read sports covered by the federal government and deep and how to pick up their meeting border funding. And we're supposed to be getting Mardi eloquently about money is gonna come on the president is cleared sixteen budget. It when you look at the cost of college right now obviously we've seen cost increase pretty significantly. For whether you're talking for your state institutions or four year private institutions over the last fifteen years is this awaited potentially can help stem the tide by opening up other options. Really with no cost to the student. Another really aiming again. Eight Genpact Mort beat every day in one of the reasons that what you have gone up and actually being here. At state it's really been bad at. At the net Boehner type of thing. Public institutions and the wake up and he has spent more money on it you know buy them at all help and support in. Well. Is there any. Estimate as far as the number of students that this program could potentially benefit. Yet all that he's a cricket made it to benefit about nine million needed. And one figured it administration. About as bad. Each state what they've added an average at 3800 dollars in which it. All right well Alley a pre are so we have one last question I Delhi don't just ask you quick question on what did you have to be approved by congress. It well and not that they like deep point to make ground up lately it's. Started out with an all Republican congress. And the fact that they're going to hop in the group that. Read a lot of questions that help Bible as. Now with and it has has there been any kind of feedback at all on it I know we just announced yesterday that any. Dad got. Senator Lamar Alexander who had been shared that and it education and eat out a statement it actually on and it beats. And he let the heat on the program. That more states should do something like pat on the ground at the is the federal government. Starting at a program like this and having. That it out actor. And yup but actually what I need as. Reform financially application process been that that I would be and other aid in and will. Sure I agree by the way I'm going to roll just looking toward gay kid into school and I. Did you streamline the whole process period should. Not. I. It's a really great and and ultimately this could come down to each state just making the decision as to whether they'd like to do this. Got that statement at willingly or to indeed. You know the F nine million in and it depends on everybody opting and ought to be back. Sure what's reaction from junior colleges are they are they saying much Community Colleges seem much about it. Everybody kind of responding. There's going to be a question you know capacity issue whether it they have to eat they call these student and I think that people expelled by just. You know it's it's a great and fine it sounds like it's terrific you know when we all like to be able to do this but then when you start. Just think about it suddenly you know Community Colleges free just imagine what that would cost a community college to kill those kids in there. I mean it's it's seems to need forget about just wishing costs you know just by virtue of having enough desks and having enough professors and having enough space. Well and and look obviously the cost there is going to be an issue but the fact remains right now that when you look at the cost of higher education in America it simply is unsustainable on the current path that it is on and you simply cannot keep churning out students that have 2.5 fifty a 100000 dollars in debt. That simply isn't going to work and I'll tell you you know I don't have kids right now but unless they're top top students. I would have serious doubts about whether I would send in the college because you look at the projections for the next fifteen or twenty years. It's not going to get better so I would looking at things like technical schools doing community college now or even say look. How about you know instead of going to college look I don't wanna pay you know a couple of thousand dollars and a college. I'll I'll homeowner investor money help you start a business to actually hear some valuable skills her. Yeah a bullet stuff I gotta tell you and you know for those of you who may be your beyond this. Or those of you who have not gotten to this stage quite yet I think you'll be will be very surprised if you haven't state abreast of it I don't know why you would because you're not in school. Yup you don't have somebody in school days union I know my parents. We're here Christmas time we are talking about my son and be up in the process. And the cost and I sat there looking in my dad with his mouth gaping open you know I was afraid he's gonna have a massive heart attacks and in our kitchen table. Where sergeant talked to him about the average cost of places where it was playing yeah. And he kept saying we can that's ridiculous can that is ridiculous. And I I said dad I I know it's ridiculous that this you know this isn't set forth by meet mrs. rice is what it is. So I'm if it is it's gotten out of hand it's ridiculous it's too much burden. On a student it's too much burden our family one of the big issues that families are. Trying to decide do I keep my retirement or to put my kid through college yeah yeah that's horrible when he gets exactly. So it's just really it's a tough decision and I think this would open up education for a lot of young people who don't have any kind of opportunity to go at all. But at the hit by the same token how do you pay for this right in his Saturday schools keep up. Still a lot of unanswered questions on how might work on a national level so I think you need to get more details as those come out and you can figure out. Whether or not it's actually a sustainable program. Or for just puts out more people behind the eight ball in terms of how you actually have to get this cost account and you. Our answer one more par route trivia questions before we take a break everybody what was the first bank. In Nevada. This one I don't know IRA you can text as it's X 8680. They've got lots more stuff coming your way right here in the financial exchange. This is the financial exchange. On the financial exchange radio network. 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 of 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 8776917900. 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. If you're thinking about retiring in in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when the optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injured children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't it make sense to get professional advice to make it last 8668106. Sports YouTube. Securities offered through securities America ink member finreg as a PC in advisory services offered through securities America advisors and Barry Armstrong representative arms and advisory group Ministry's American companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. According to a recent survey conducted by -- more at the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice a lot firmer at Cushing and Allen has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer. Call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call for year free procrastinate is guide right now at 866. 84856998668485699. Mortgage rates are still at an all time low and it makes sense to take advantage of these rates whether you're refinancing or buying a new home leader bank is a local bank that's one of the largest mortgage lenders in New England with very competitive race asking their experience staff about mortgage financing options and get a very competitive low term fixed rate for your home whether refinancing or buying a new home work a leader bank call 8776917900. Or visit leader bank dot com. Leader bank lent over one billion dollars last year to homeowners in the Commonwealth of Massachusetts. They're the true experts in mortgage financing. Deal with the local bank today and call 8776917900. Or visit the leader bank dot com for all your home buying or refinancing needs 8776917900. 8776917900. Or visit leader bank dot com. Or email loans at the leader bank. Dot com. But best in business is right here. This is the financial exchange on the financial exchange radio network. All right just a quick update on what seems to be happening in Paris. Coming out here checks so. Okay we got the two Brothers who were at the magazine that the guys who went into the magazine did this to steer a magazine shop all the people allegedly right. Well they were being held up about 2530. Miles outside. Of Paris. Holding hostages in a printing shop will apparently they are dead. Those two Brothers. And the pitcher Mac software and reduce I anxious to could've told me didn't have to do like that a that is so mean OK so they're dead. And they had at least one hostage. It's hard to follow it may be a guy who rallies and he appears to be safe is the early word that we're hearing right now. Now we go inside to parents and we have a Kosher deli or supermarket. Where we had numerous hostages. And we had big guy and this woman. You're claiming they were responsible for shooting the police officers yesterday. Yup and apparently some hostages have been freed from their it's unclear all of them have been right this point. One of the shoot one of someone they are 11 of the suspects apparently is that there it's likelier the second one is and and looking at the video right now it appears is quite a bit of action out in front. Of that building right now. And it it appears there's there's quite a few. Hours a blast but some some flashing lights and and and some apparent it looks like gunshots at the moment so. It appears there's quite a bit of action happening right now in. Is it you really just hope that you know you can get as many people out of their seats. Absolutely as possible yeah I'm at I certainly hope so that I MSNBC is reporting that Paris market suspect. Commodity is that was that the meals. That was him right yet to get what I believe yes he's been killed. And then there was a woman. And I think she was there and it's there's been there's been someone who's been neutralized. So I don't know if that's her. And that means that chicken or into custody I don't know exactly what neutralized means in these situations. I guess I. I I would I no longer a threat in one way I don't know if it means that they are dead dead at this point or they're simply and in a situation where they're no longer posing a threat. But it continues to be a pretty fluid situation there it looks terrible. We have been reporting. All week and I know all of your sitting on the edge of your seat to get paid their final call on this that we've been reporting about Harold hand. He is that oil tycoon in Oklahoma. Getting a divorce from his wife sue and Arnold. And he and she ran are now has the net worth of about two and eighteen billion dollars yup. And they came to an agreement after the 26 year marry each he would pay her billion dollars. That was agreed upon early December. And then he started losing your shirt in oil. And these claims it is worth is now down about nine point five billion. We should all be so lucky guys that approximately a few months exactly and to still be worth so much star money. So he had to go ahead and pay her the money. And he said he didn't think he owed her billion dollars any market is networked it gone down. And she said well if you're not gonna pay me a billion dollars and Angela backed court say you were paying me enough to begin. At which point he then sends a check for the full amount that apparently she can't written check by the way handwritten Jack's article so acrobatic catches saying look here's all the money. I guess he got nervous saying well you know I don't know I wanna do this anymore I don't know Pollack is actually going back to court. And then she apparently yesterday. Cashed the check after initially appealing so that was what you do that by the cast the Jacqui just walk up to the teller signed the back of it and say I'll take I would 974000800. No vote I would I would do it through all my my Smartphone with the take a picture of Jack up. That's how I would do it. I would love to see the face of whoever's working in the back office there and act comes across just this picture of a 970 million dollar check your first reaction probably. Or how good another one get out of a and this happens on a fairly regular basis to write checks and stuff like that you know but. I mean to I I don't know how you actually go about depositing it that you clearly deposit. You know I mean obviously. Along with the Brinks truck why kill the bank and I you've got a relationship with a guy like I changed my mind actually I wouldn't use the the mobile check deposit I think I would go and I would ask them attached to it's it's she cashed it way she had she asked princess. Let's look at Avis that must be a typo personal it's as she has just cashed. A personal check. For 974. Million down the feeling that should see deposited I don't think banks have off ya a billion dollars sitting around okay that it goes on to say we have been advised by Morgan Stanley. That is aren't all deposited the check this OK there we go. He's got me now that's funny that type that you can't just call ahead and Sam billion dollars on the fifth. You can't do that and I'll take it twenties data into one that's putting us at a I mean after this and you know I Abu. Talked about this a lot that they're starting to really break this down and that's how much money all of us are saving. As Americans because oil prices have dropped so dramatically and I know everybody who's listening to you know probably has figured there had what this has done for them. But the average for the end the average American household. It's shaping 700 dollars that's that's about what it is for the average American household as a result. Of the price dropping down not only just gas prices but obviously your oil prices to heat your home but. 700 dollars to meet it feels like shock. It's gonna be more than 700 dollars in household. Well I think again for keep in mind that you know a lot of folks they may either be older they don't drive is not so. Wet when you look at it in aggregate I think that's when it comes out to I think for most working families in May actually end up being a little bit higher than that particularly. You know maybe you're driving kids around for soccer practice or hockey practice in this in that. And so when you look at working families. They actually may be able to save a little more but when you look at this in terms of an annual budget it's essentially equivalent to getting about a one point 8% raise for a lot of folks and so. You know I think that's something we've talked we talked earlier in the show. About how wages are starting you know aside from this month you've seen a little bit of growth recently. But I think that this is a way that a lot of folks it's okay. You know my my wages are necessarily moving the way that I want them but at least you know I'm able to save some money here and almost feels like you're getting a little bit. A bump in salary absolutely. I think it also depends a how many vehicles you drive you know in your household you know made up media sublime and maybe like our household were financing three. So on the panel sometimes make the difference yet. By no one household that may not be terribly affected by this change in that is Elizabeth Warren's household I don't think saw this yesterday but it. It was released. At senator Warren who fights for the middle class and she's working for you America. She's actually part of the top 100%. It's estimated that she is worth anywhere from three point seven to ten billion dollars and that's without her home in Cambridge. Which is valued at right at about one point 92 million dollars or sell.