Apr 29, 2015|
4-29-15 Full Show by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
Joined today by. Estate planning attorney Todd what's from the law firm of Cushing handle and with your financial exchange quick tip of the day. We're talking about the top ten reasons to have an estate plan. But let's talk about number four if you have a child that's not really responsible with money. Is there a way to protect them from themselves when the paired up talking about the spendthrift child you know when it. In early in my own children yeah that's a good money in their pocket they burned through you know I agree you wanna protect them from their future creditors whatever they may be. Going forward I mean and give them an allowance as opposed to lump sum yeah it'll figure out how the money can be accused experts rate them overtime and endured in a way that. And trust can do that so that they're protecting them if they themselves from their own creditors. If you just that today with the estate tax exemption as high as it is we tend to be leaving more and more that's too far to our family. Because less is going to the government while. We wanna make sure we leave it to them in a way that won't hurt them. Keep them productive members of society so and and quite frankly the biggest concern I have sometimes is future divorces. I mean if you dump. You know half a million dollars in July your child's hands and they get a divorce five years after you're dead they're gonna lose half that money on a good day. Put it that trust the trust does a lot more than just probate and avoid taxes these days it can really protect your assets for your children's from your children's creditors that's reason number four the you'd have a statement. Call now and received his brand new guy from Cushing handle the top ten reasons to create in a state plan. 8668485699. That number again is 866. 848. 5699. Call now 866848. 5699. Advanced state planning has many benefits including avoiding probate passing your assets along to your bloodline protection from the nursing home and my favorite possibly eliminating the estate tax -- folks this is very Armstrong from the funny to exchange each week Todd let's ski a partner with the law firm of Cushing handle educates our listeners like telling them how to protect your assets from the high cost of nursing homes a state planning has many benefits. Including helping you to not impoverished or spouse if you go into a nursing home Cushing and Dolan has put together a brand new guy top ten reasons to do estate planning call for your copy now 8668485699. Cushing and Dolan can help you protect your assets that number again is 8668485699. Securities operative securities America member and SIPC advisory services opposite securities America buys it Gary Armstrong representative Armstrong advisory group cooking and talent in the securities America companies are eating uncle with the growth. Into the wall dance lessons can they. The basketball. Yet wherever you're going the quality gasoline and ExxonMobil stations of the energy behind your journeys they've helped them do run smoother and help improve fuel economy true. ExxonMobil energy lives here and Exxon Docomo mobile number details. There's your basement or crawl space have a dance musty smell. Well watch out better sign it 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. Away. 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Security topic it's pretty generic ink member of an SIPC advisory services apathy securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are not affiliated please consult with your qualified tax expert for any activity concerns. This is the plane into the exchange we've Barry Armstrong. First greens stay on top of breaking business news and the little how to manage your money to help you towards a more secure future he'd still find mention exchange with the euros. Barry Armstrong. Hi everybody welcome to them by. Very Armstrong talks a lot of what you hear today. Wednesday in the field it's a Wednesday here today. Having senior moment on we we have a lot to cover during today's show one of the things that I wanna dig in to. Is the financial impact of the riots in Baltimore were to be joined by Victor Matheson he's professor at holy cross. And we'll take a look shocked at the did the financial devastation that'll occur to the city of Baltimore over the next twenty years. You take a look at I did some research on Los Angeles and looked at the economic impact manatee had the rights in 92 that we pride remember but the government I we were the first things I remember on TV actually really. If any that cost the city of Los Angeles tens of billions of dollars. And I think the situation in Baltimore might in fact be worse than what happened in Los Angeles in 92 so we're digging into that big as a co author of that study this year. Well on the I'll play in noisy yet very cool as though he'll help us be of the project is what's gonna happen in two to the Baltimore area. But before we do that we have to reflect on GDP data truck that came out at 8:30 eastern time. It was expected to be an anemic number of 1% couldn't even hit a terrible number of 1% comes in at point 2%. First quarter growth. Terrible number by any standard. Yeah it's it's it's an awful numbers it's below what people were even expecting the one saving grace there is that when you look at the GDP deflator that use that number. Came in at negative point 1% of the actual real GDP growth was point 3% which is only just below what was expected point 5% so. It when he actually dig into the numbers you know you're past the headlines and it's actually not eight. Terrible terrible number just because with that the later they actually still seen real GDP growth pretty close to what people were expecting what do you think we get for revisions. Revisions you never know I mean if you remember in the first quarter of last year and remember the first quarter last used when he first had obamacare going into effect. And one of the things that they had in there was in the first attempt to projected the advance reading. They came out and said they were projecting healthcare spending was gonna spiked by about eight and a half percent that that was gonna supposedly carry the first quarter will be up after they actually looked at the data they revised that down significantly at the ended up being around for four and a half percent. For health care spending that dragged the entire quarter down there and so revisions tend to be pretty significant just because these early numbers you're trying to gather so much data from so many places. I don't put a ton of stock in early ones I think I typically wait for the second and third revision just because it's so volatile right in those revisions. Snide news at a Lumber Liquidators uttered a few folks free called the story. Many of you have it Jews you know Lumber Liquidators in Europe in Condo for four Ivan had to do it for milk and you debuts any lumber and wood or Nara have not. My son and I have to ask him what and upcoming of that because he was approached. By an attorney on a class action suit against them liquidator yet. They're stock down a lot today. It's down 17%. Today. And they are facing criminal charges that's that's astounding. Did you think that there facing criminal charge that. That story continues to get worse that's a 92 dollar stock with in the last year today it's trading at 52 week low 27 dollars this year. Debt and look I mean again we're all familiar with the report that came out a couple months ago in terms of supposedly using illegal materials from China and now it appears that their problems are continuing to get worse and look this is a case where you know this is a company that clearly knew it was being greedy thinking they could pull one pass people. And based on everything that's coming out now it does not look very good for this company going forward I mean. You've lost essentially the market cap on the company now has about 740. Million dollars you've lost about two billion dollars in market cap in the last year and a half. It's unbelievable. They what was the story with Twitter yesterday. Hey I am I'm sitting there I'm in my office and I'd just kind of I'm watching it. Modestly that I knew Twitter was not supposed to report until after the closing bell. Look at that shock and the darn stock is down 20% at like 345 in the afternoon they had some kind of a it was a hack was that a leak. Well enough so as soon here's what happened actually is NASDAQ is actually come out today and they've said that an operational error. Made those earnings available. Four approximately 45 seconds at 307 PM yesterday so about an hour early and pretty much it's if someone pressed the wrong button or something ended up in the wrong I it was a hack now it was NASDAQ came out today and said that they essentially dated if they did it happen by mistakes and NASDAQ said. Look we we did this we didn't mean to and that that's why you saw it there. And pretty much would that do they halted trading in the stock originally and then when it reopened it was down 20%. And it's still down about 20% from where it was yesterday right now. And I mean. Down 5% today it's trading at 39 dollars this year it's been as high as 55 that are you guys still big Twitter debut world sort of the best in terms of what the soccer the service and serve the service is great stock I I don't believe that it can generate enough revenue line. Because how much likened FaceBook generate revenue and toward it because twitters limited to a 140 characters. I think a visit in there's a massive difference in how people use the two platforms Twitter it's all that quick burst and trying to get information out to people quickly. FaceBook is a little bit more in depth that's a little bit more and I don't want to connect with people I don't want to. Communicating a little bit more depth there Twitter at don't think you have the depth to really get any type of in Iraq in the way that people tend to look at Twitter okay when you're using FaceBook you gently browsing around people's profiles you move around to different pages this and that Twitter. All I do and they've you can correct me if you do this any differently I looked through my feet and I just kind of see things there and I just see what's happening and go you'll go to anyone else's page typically does it. Harder for them to monetize twitters model that's much definitely right now but I think with their purchase a periscope which we've talked about I think their. They're focusing a lot on video in the future and how they're gonna use video just like FaceBook Justin with who we report on the other day. I think if they if Paris document that can explode you can have ads. On the videos yet you made it a money potentially I wanted to back that just before you guys go off to another subject here. Did they all have like a century if you're part of the NASDAQ you release your earnings report to the NASDAQ individually that's a centralized system if it's all on the NASDAQ not necessary Twitter that. Made this mistake. What typically happens in NASDAQ has a service that disseminate earnings out it's it's no different from all the exchanges really have these services that you can send your earnings in and Nelson about anyone who accepts the feed it's almost like at a specific time almost like an RSS feed or something like that but for company's earnings and say OK you'll send this out at a specific time. They just had an issue with that Pete where it gets posted this earlier. In the if it. It'll be. Well we'll keep an eye on Twitter I just fine it would right. Think about quarters that it seems to be a lot of journalists are using it. I don't know how many pedestrians are using it but maybe it's generational thing maybe it's a thing where my generation. Is using FaceBook in your generation is more happy to use Twitter have a kind of makes the common person not a certain journalists but they get the dig deep so if you're watching something on TV you can go to Twitter to try to get some kind of inside scoop yeah similar to a journalist gonna get a source cell. You know and it's not as the selling news credible but you can kind of get your your gossipy feel like maybe it's not confirmed by television station yet. You can get that sense of what's going on where first you get everybody's the country you know how FaceBook uses an algorithm and you only see certain number. A feeds from your notes it's so it's very different so you get. We essentially what you see on Twitter. It's the people that you directly follows everything now you get everything that they since you're curious what you want to see. Can can you go back in its act only wanna see what Kudlow posts death yet you guys profile yet but you also you cannot see what they send to other people. I wasn't sharp unless you you mean direct messages are we talk note just like if I did unless you put a period before and then you can see what sent currency idea. Eight we will get that test the story but before we do that. Tell everybody how he rods next home run could cost the New York Yankees twelve million dollars at that he's got something to do with contract. Well it it does and there's a certain bonus that he gets actually for the next home run that he hits yes and there's a lot of people in boss that are actually rooting for him to hit this home run simply because it's gonna cost the Yankees twelve million dollars which. Well look no no one wants the Yankees to win ever but Anna if if there's a situation where maybe era hits a home run and they down fifteen and and all of a sudden the Yankees and the having to payout this bonus to him. Well I think it's a good situation forever when an era has a few of these bonuses that are built into his contract actually. And when you look at them they're all for hitting major milestone so tying Willie Mays is one of them tying Barry Bonds is another hitting seven home hundred home runs is another. Is he still playing at and T use because he started off on a belief is that Amara now check yet well you figure that missed that yet you'll get how Iran is doing this year and obviously started off incredibly well. So far this year started to come down to earth and really. You know coming back down he's ready to 54 right now are basically good clip I still you know he's got five home runs and about 78 at bats he's still. He's got the power winning early on but years weapons contract. He's got two more I believe after this. Yet he's the yes who's got a thirty million yet two more 21 million and potentially thirty million in marketing bonuses twelve million of which is gonna be this one for home runs success. I love I love it okay. Pay up next we will be joined by the good professor Victor Matheson from holy cross joins us to help us define the economic costs. To the city of Baltimore. Of these rights. We're breaking financial news gets the financial exchange we've Barry Armstrong. On the financial exchange radio that. Investors searching for relatively little risk investments that can easily be converted into cash often turn to certificates of deposits or CDs leader bank is currently offering an eighteen month. 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Today's topic is securities America ink member in SIPC advisory services up with the securities America fighters and Gary Armstrong representative Armstrong advisory group in the securities America companies are not affiliated please consult with your qualified tax expert for any activity concern. This season powers and I am joined today by estate planning attorney Todd lucky. Don't laugh from a cushy union talent with your legally exchange quick tip of the day. Today we're talking about last minute cleaning techniques for the procrastinators. That can help speed your assets if someone goes into a nursing. Todd can anything be done to save the liquid assets of an unmarried individual. Yes there are some things now remember it's never as good as as advanced planning. But it's better than losing all the money and that's really the goal. In order or an individual who single to get on Medicaid. They have to have less than 2000 dollars and often times they won't they'll have you know few hundred dollars and if that they seemed over their lifetime. Well bucket of money is there the individual and how to. Purchased one of these Medicaid annuities and please let me just brought a reminder that these annuities cannot be purchased prior to. Someone going into the nursing home case so don't let somebody tell you that they can you make an annuity today. It's a last minute planting technique. And once you buy this annuity that they take two or 300000 dollars up excess assets. And purchase the annuity that goes excess assets are converted to an income stream so you and us and apple less than 2000 dollars of assets. Because now. Big chunk about that has now paying out income stream a monthly check you'll receive. Over your life expectancy whatever your life expectancy is that's the term of the annuity the moment you buy that annuity. You're now eligible for Medicaid and you'll stretch out the money make it lasts a lot longer folks if you're single warm married in their fees with a nursing home Wednesday. In the air is something that can be done to save your assets last minute that you need some guidance. Collar office right now heard the brain a guy from Cushing and own cleaning for procrastinators. 8668485699. And 8668485699. Helping you understand how to best manage your portfolio. It's the financial exchange with the Barry Armstrong. On the financial exchange radio network. All right we're at. Studied this subject of. Baltimore's economy not the past really try to anticipate what it's gonna do going for we are joined by Victor Matheson he's a professor. At holy cross in Worcester Massachusetts. I'm Victor how are you today. We're glad to. So Victor you studied the results of it in what happened to the Los Angeles economy after the riots in 1992 correct. In what happ and how badly as well as the economic impact the Los Angeles. So we actually thought extremely surprising result there as you might expect the economy took a hit as he had businesses that were burned out witnesses that were destroyed and looted. But this of course happens anytime you have any sort of disaster so that happens when you see natural disasters like hurricanes or tornadoes or earthquakes. Bullets bullet extraordinarily surprising well. Los Angeles in the wake of the Rodney King riots is that the economy took an extraordinarily. Long time to bounce back and the fact we found lingering effects on not to handle a decade passed the night at the nearly nine. Now do you think Baltimore will recover faster or slower. In Los Angeles might instincts would tell me slower but I'd love to hear your perception. Well that's a that's an extremely hard question to answer first of all it must be understood that the magnitude of the riot at least thus far in Baltimore. Up pale in comparison the Rodney King riots the Rodney King right at roughly a billion dollars in total images from the ride behind. Dozens of people are killed and injured. So this is a much much bigger issue in law and Baltimore and a course reek B buildings bowl areas it is of course a much less challenging than rebuilding and hire large neighborhoods that had been have been polished. That being said. You know law and also is is the place with a lot. Of diversity and come want to divert if folks in Italy maybe the Baltimore isn't and much at least not as well known further. That Tony suburbs it is and. Professor at the board of directors of CBS asked you to come down to Rhode Island and make a presentation as to whether or not they should reopen their stores how would you advise them. Until that third. And I remember I want I want you think as a stockholder not not as a benevolent. Individual ideas that purely from a financial perspective. Would you tell CDS to reopen those stores. Well so the real question is so what do we think the campus or. This sort of thing recurring in the future. And I think what we it would business owners in the past. Were a lot were a lot quicker to surrogate mother nature that we are to forgive our. Our fellow humans said and done to a so I think I I think EDS will probably come back. And and in reinvest in the community. That being said. I think that much more difficult decision that much harder decision. When you have bitten alluded out by your couple neighbors tell customers yeah. Then you've got the act got. How about the convention business I know that they already lost. The American Heart Association and door hardware institute they lost something else. Unity they lost when 300. Conventioneers that we're gonna come to town this week alone. And I've got to wonder if you're not gonna have future cancellations. Well he's certainly don't want you are indeed have a reputation of being dangerous place to go to bat for where. Lot differently. And and we've seen cities that have had that reputation a city that are are really actually really fun to these two to visit but. If they look. Cleveland we can't go to Cleveland guy and he's certainly don't want that sort of that sort of reputation. With your city as well so you know they've got a lot in the left that. Twenty years to try to have some sort of downtown. Renaissance the ball stadium plus the aquarium. Hasn't necessarily lead to a really obsolete now. You know driving downtown but it's certainly not decayed. But that you know of course give the impression that would wanna go to Baltimore it dangerous city. I wouldn't. Yeah and Victor even when you look at this Brahms to tour's perspective if you look at the last. You know caught couple days we have a baseball game today that's being played with no win in the stadium there you've had against canceled you had lock downs called the stadium. And historically for people in Boston. Look it used to be an easy way you head down to Baltimore for a weekend catch a couple of games newspaper they go to Fenway and and something like that. Would you also consider you know would you see people considering not doing that anymore because of this. That's for sure that's right and help our New York City at Times Square has worked over the last couple decades to. Revitalize its image yeah law. Las Vegas the same sort of late but images tickle on time to build that support it probably take a lot left to destroy. All right we'll Victor thank you very much for joining us appreciate your time I Victor Matheson holy cross. They then yes he has his you both guns you've jumped on a plane. On a Friday afternoon that you've gone to Baltimore you've cut the Friday night team the Saturday night game Sunday generally game and then come back on Sunday night. To good use to be good take rate he hotel rooms were hundred bucks a night day. You kind of spending between the flights everything you figure it's about a 150 bucks to fly down and down a round trip and it's you know about 250 to 300 stay in the city you know leaves you pay maybe 3040 bucks to go to all the games and say you're an out of spending approach somewhere around 500 bucks where if you wanted to go to one game Kyra and why well. And and remember you when you did act there are a lot of Red Sox. All of its dominant inside Jan you know goal in and it wasn't just Baltimore's camp I think it similar experience yeah were people like out. But I remember Baltimore is so close to nowadays like you could technically drive to Baltimore so it's that depth most of people like government says it is sort of the officers over box dude dude you know as it is a nice weekend away yet now. I just don't think people are gonna go like it I'll ask you guys would you go now not this year but not this year I mean I think Baltimore has a permanent. Scar as as a result of these well. At least I think you're gonna see again as as the two senate that you're gonna see at least five to ten years before people get comfortable. With the idea again I mean. Keep in mind if you look back at some other cities elegant LA after the riots back in the early ninety's now it was it was similar but if people LA's a little bit different who has an L. Have to go there exactly Baltimore you don't have that you don't have to deal so. I think that it's definitely going to be a significant amount of time but people will return as long as it's the shows that it's able to move past this and reconstruct itself in better fashion. CBS you the professor stating that he thinks CBS will reopen. An Italian I I don't old CBS stock but if I did write I would be saying to the CEO. Let's let's let's pass on this one while I think the big the big question with regards to those stores going to be the insurance. Targets targets that its target got burned out I mean but he figures it is such a C insurance and track you're you're. You're you're you have to think about the safety of your employees right do you really wanna serve that market where you're employees or risk. Year like. The there's so many other place sick can you tell your employees or risk though but again bought this isn't something that happens every day able to Qaeda how do you know. They have I don't know like I mean it's not gonna happen here I mean we we we don't we because we don't have a large and controlled ghetto. You know you look at New England we don't have to get you that that's what I felt out of this question does this stop you from attending Johns Hopkins I think now. I'm not I don't know why I'm not 'cause I think it absolutely does I think kids would say. There are parents would be advising their kids to open schools and capital. I don't look at some of the cities that we already send our kids do you talk about an acute Yale New Haven which is not a nice party Tony talk about kids don't depend which is in West Philadelphia and in the worst part of Philadelphia. I mean we already send our kids to some pretty bad places because they can put a great education. So. I think that in particular you know if I'm looking at this from CBS's perspective I say look is always my insurance costs are going to be to line and I can brought a good business there. It's this so this is not something that you expect to see year after year after year. You know like it's a recur. Well I look it's gonna depend on events after this but based on just this one event now. Tesla we're talking about half when we return that's enough of Baltimore. It dominated enough of our time. Can cope with the financial exchange. 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This barrier are strong and I'm joined today by estate planning attorney toddler from law firm Cushing and all its time for your legal exchange quick tip of the day. We're talking today. About the different ways that you can only real estate and Todd I want to ask you this one. What are the implications of trees for your whole C just take your whole and you give your children. In order to protect it from the nursing I actually had somebody asked me this yesterday sixty years old. In the heard about this they transfer using only. Yeah 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 life estate so your 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 yet true 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 like. Number three is it you know Ali you know I don't you've now subjective and as you just said Barry took their creditors yet doesn't. Necessarily have to be divorced as 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. Our rate I've got some advice. Or 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. 668485699. The guide will teach you all about the risks and rewards of real estate ownership. Whole free 866. 848. 5699. Advanced state planning has many benefits including avoiding probate passing your assets along to your bloodline protection from the nursing home and my favorite possibly eliminating the estate tax type folks this is very Armstrong from the financial exchange each week Todd let's ski a partner with the law firm of Cushing handle educates our listeners like telling them how to protect your assets from the high cost of nursing homes a state planning has many benefits. Including helping you to not impoverish your spouse if you go into a nursing home Cushing and Dolan has put together a brand new guy top ten reasons to do estate planning call for your copy now 8668485699. Cushing and Dolan can help you protect your assets that number again is 8668485699. Securities -- -- securities America -- member and SIPC an advisory services opposite securities America advisors and Gary Armstrong representative Armstrong advisory group cooking and talent in the securities America companies are unaffiliated hi this is very Armstrong from funny to 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 local institution that I trust I. I own gold and I buy my gold points 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 bank 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 and out. There's only one way to get more of the big business and financial news and unfortunately crystal balls are you know it's the financial exchange on the financial exchange radio network. I thought it killed the show on Baltimore but finally says I went to Baltimore twice in the last seven to ten years. With a convention both times who warned about the crime and that we should stay together who's not comfortable day in fact our convention will not be going back to Baltimore. I thought I am not text question do you guys in responder and on our tech's number six in 8680. If if you were offered say the radio station. Was doing an event in an prize was an all expenses paid trip. To Baltimore to go watch three Red Sox teams including your hotel including your fair would you ago are tech's number 68680. I would take a packs include security it does not include security does not include security. 68 we don't you would go I don't really. It's a result yeah I mean look again would I pay my own money to go there right now because I think that you better things in my own money but if someone's that'll pay for you to go there yeah. Absolutely almond and about those travel size shampoos and up CBS. A baby's gotta take a handful when I go to you don't pass the made car I just grab him I just I I'm not feeling. Thank you for me it would be I would narrow my own money to go there now but if someone gave me a trip absolutely. And I used to feel the same way I still feel the same way to Philadelphia to. Right at somebody said the whole Perry on expenses trade paid trip to Philadelphia now it looks an overrated trip anyway mr. huge baseball. You know even if an Aussie park that made it not me 68680s. Or Texas or by the way how old is Gerri sign held today you're surprised. When you figure this one out our text number for that is also 68680. When apprised you know he has held news Jerry Steinfeld tests on talk about. Tesla excuse me they coming they're coming out within announcement as to their home battery. And I think there's a market for business but I'm trying to figure out what it is. So what Tesla is saying is pretty much they're building this big data factory which human Hernandez earned re not in Vegas in Nevada in Nevada and what they're trying to figure out what to do with the brits try to forget what to do with this factor but I don't make enough cars for all the batteries they're going to be able to produce immediately. And so one of the things that you on moss he's going to be talking about today I believe is some of the plans for that excess capacity and what he said. Is that he wants to build batteries really as standalone storage for things like wind turbines. Solar cells things like that so that. If you develop their power during the day say solar ray. You're in your developing more power than you need rather than putting it back into the grid your putting it in your battery correct city store and you could potentially break it down where you sell some of it and integrated store some of it's got some different options there. But pretty much this is designed to try to overcome the problem of what do you do when it's not sunny and windy. And that's that's what you unless he's saying that he wants to do if he wants to develop a solution to that problem. And he's probably done at the issue that he's running into is that even that market and isn't that be great. You talk about how big it is and when you look at the overall size okay the capacity. The factory is expected to have just 3%. Of that capacity which by the entire global market for this might. So it's not like this deals with excess capacity gets OK 50% of our production will go to this. If you've if you Bruce fifty for any production towards this you're overproduced in the markets it doesn't do you when he did so. It's it's certainly is a very interesting idea and it helps it helps to solve some problems that you run into with renewable energy in the future. What does it duty utility companies. In terms of when you look at this from a long term perspective. I do it because I'm looking at a Hussein. In the gate that challenge that a utility company has since they have to produce enough. Energy and have to have the ability to produce enough energy. Tune in assuming that it's cloudy and it's not windy and it's really hot in there to it produce that air conditioning. And yet to have that capacity whether you have a battery in your basement or what the F solar panels on your roof or not truck may have to be able to produce second pass at. Well when you look at what. Renewable mean for utilities and in one of the biggest things that we're gonna have to work through the next ten to fifteen years. Is how do you deal with the fact that you're moving from a centralized distribution network to a distributed network were pretty much anyone can produce their own power. Using things like rooftop solar panel and things along those lines. And the issue that you run into there is the first and foremost that in a lot of cases you have the utility that's paying for the connection for a lot of this and the person is saying okay I'm gonna sell my energy backing of the greats of the utility. Pace for the connection and then loses revenue right which is a major problem can't afford to do that now and so what you're seeing actually California right now they're trying to put together legislation. To make people connecting to the grid pay a percentage of that cost actually just so that they actually some kind of a connection to exactly just so that they are on the hook for some of the expense of doing that. And beyond that what you're also gonna see. Is let's say that you do have utilities that gradually producer of gradually sell less and less power because you have more distributed per auction. How do you make sure that those utilities are still profitable than without just jacking rates up. Because that doesn't solve the problem actually so. The next fifteen years there's a lot that you need to work through and that's it it's going to be a bumpy time for utilities in terms of I think it is their operations because this is something they've never dealt with before we've never had the ability. For individuals produced. Our on their own C a market for this would be places like Hawaii. Any of the Caribbean islands right disease the cost of power so expensive there that you don't wanna be you'd like to go off the grid rural parts of American Eagle up in areas where you don't wanna be on the grid you they write you have a road. You don't wanna pay the utility company. 2000 bucks a poll to bring power into Europe here rich that's where concede is being used that. My question too is how long can Tesla maintain that kind of lead in terms of technology. You know they've got a good battery now that. Like why wouldn't Chinese or why wouldn't the Germans be able to build a better battery of tests. Well with any type of competition you're always gonna have someone trying to build a better product and that that's what you want for for us the big thing in what we've seen with solar in the last couple years most -- and look at wanna build a better solar cell and as a result the Kostis fallen dramatically to the point where it's starting to actually be cost competitive with fossil fuels and substitute is you Baghdad say as a good at bats that the other the other day yeah you look at the cost of solar. It is declining and that. Decline will probably continue yeah so. That's what you want out of battery technology want someone to come any compete. And I think Tesla saying look we're gonna take the lead here in red bell this into business if you can create an industry here kind of like Apple's done with things like Smartphones and so forth I like the technology in metro like the stock. But the stock is is a separate it from the technology but the technology and what they're trying to do cool if it potentially develop a very useful industry motive for her power generation going forward you need to have this capacity with the type of generation we're talking about. David Leah asked that text question whether people take the free trip to Baltimore what was the general response it's not looking like they take that trip it's about 5050. I would not I would not just the day I got better things to do with my weekend. Then and notable too great if this was a tight budget these days I'm. I thought the best. Terrifying sight Belda 61 years old who knew the answer to that track we had Dan from Quincy take no more of our new T shirts for the summer and it's Quincy it's Quincy. From Quincy Quincy Quincy Lindsay it's like to expire at the expert yeah yeah Lester. Where sister now what's that I grew up in Framingham and Peabody you know the idea no line you know and most of they gave a I have a job opportunity for you here kind of going that China is renting foreigners. The booming business and how much how much in Ottawa Tropicana Dodi think we can get for David we sold David to the Chinese. Lately he's worth. I mean hey David in particular you're probably talking about seven dollars and they're not an hour but just total you know our own but this is it's it's fascinating what they don't because China has over developed. These cities and these apartment complexes in malls and what they're doing now is they're renting foreigners or someone like David actually. They're they're pretty much dressing him up in either sue an area security outfit. To pretty much make it look like there's more people there than there actually are so they can sell some of the space that they want you have to be an American. Or European right that's what they're they're they're they're trying to. Get that type that they they they they block what people residents there they're looking for because in China it's it's essentially desirable to have. I Europeans and Americans interested enough in the properties and so what they've they've been doing is they've been simply renting people out in order to make it look like there are. Americans and Europeans living or doing business in these place. Listen I'm always open new opportunities that the first and foremost but secondly I'd like to break down that seven dollar figure to break out no matter in these days it. Eight yesterday during our program. We got a text message from one of our listeners saying that an American cargo ship. Had been hijacked by the Iranians. Turns out that was not entirely accurate. Yet turns out that the yacht a ship was actually flagged out of the Marshall Islands yet which really have been independent since 1983. There were under US control until then. But the bigger issue for this ship actually is that even though it is technically flag out of the Marshall Islands and it doesn't really have any affiliation. It's pretty much like their because it's a key place to do business taxes but it's it's not a case where this position that's owned by Marshall Islands is no longer part of the united state now. Not since 1980 threesome going on thirty years now so when you look at what this means for the ship. There may not be a ton of assistance coming necessarily their way. Just because it you know the US doesn't have any direct involvement in the ship at this point. And the Marshall Islands while it's technically flagged out of there it's not. Assume that's owned by them or by any company that really does a lot of business there so they may not get a ton of help from them either and I don't know how much help he could get from the Marshall Islands to begin. And over the bicycle alright when we come back Zhao who from morning star's gonna share what do we have for stocks. One stop coming up next on the financial exchange. Since. Close your portfolio. It's the financial exchange we've barely Armstrong on the financial exchange radio network. You've probably heard that if your spouse goes into a nursing home your primary residence is protected but did you know that it is only temporarily saved if something happens to you your house becomes 100%. At risk for the nursing home advance planning is ideal however if you do nothing else you need to have your basic state planning documents in place this will allow you to save some if not all of your assets last minute if you or your spouse enters a nursing home Cushing and Dolan has put together a brand new guide back to the basics it's a complete guide to a state and asset protection planning call for your free copy now here's the number 8668485699. This guide will teach you the fundamental basics that you need to know about estate planning 8668485699. This is a limited time offer so call now 86684856998668485699. If you're thinking about retirement in the next few years it's time to make them big decisions do you know how to change your investments from a growth portfolio to one which generates income if 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 injure children there's so much consider before you stop working and we've put together a 26 page REIT I aiming guide they can help 8668106. Port 22 you worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Sports UTU. Securities offered through securities America ink member finreg FIPC in advisory services operatives securities America advisors and Barry Armstrong representative from an advisory group Ministry's American 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. If you really wanna read it check tear former son or daughter and not just to buy the Acura own home. Not only does transferring put your home and rest it can also create a huge capital gains tax when they sell it. Right now the federal capital gains tax can be as high as 23 point 8%. In net in addition to your state taxes. There are better ways to own your real estate second protected from the nursing home. Keep it away from your children's creditors avoid probate and not cause unnecessary estate taxes. Talk about in the law firm of Cushing and Elena put together three new guide to the risks and rewards of real estate ownership. This great god will see that that's read on your real estate call now for your copy at 866848. 5699. That's 8668485699. Investors searching for relatively low risk investment that can easily be converted into cash often turn to certificates of deposit or CD 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 EP why call 8776917900. Today or visit one of leader banks conveniently located branches in Arlington Belmont -- 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 earn annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including iris penalty which may reduce earnings rates subject to change without notice member accuracy rate effective November 4 2014. A little burial and Twitter. Barry G Armstrong happiness is that financial exchange radio network. No. So what are we talking about your job kind of petroleum we are talking about China petroleum also known as seen OPEC and we now have Giles moved from Morningstar. Did talk a little bit about the company they can joining usage now. It. So when we look at this company obviously we know that energy has been. Of roller coaster ride for the last twelve months right now. What is really the odd decision to look at this company's opposes some of the other ones that are out there. Sure but we note that a lot of the upstream you know you exploration and production company in America especially. Those engaging you know shell that type oil development has been hammered because the prices now oddly enough I get want talk about Donald packet. The company actually unlikely at refining company but that's only benefits. From a loyal on the low oil prices as they purchase of oil at market prices and then we find them and sell it to customers that drives cars. So would then be more avert a refining you're saying that they don't have quite as much exposure to the ups and downs of oil prices. Yes so they definitely don't have a much. Exporter compared to some of the oil producers. In addition the company also exposed to a whirling market in China. The company is up belong to a government protected duopoly that dominates pretty much all fat that of China domestic oil and gas sector and that the company is the largest. Refiners in China and it also sells Kathleen deal is it Chinese middle class which. We believe will be the biggest driver or. Guess link Fuller. They mention that they are part of a growing market how quickly is demand growing for gasoline and other petroleum products in China. That's a good question wall China's economy has slow but that's torture however. Given that back. Hi tight economy. If you're going out there percent. The year that's a lot higher debt of the bulk country's. Oil oil oil consumption a particular. Does the judge also slow but. Currently we're tracking about or opposite you know the world. Now beyond this one of the other potential benefits that you get with investing in a company like this. Is unlike other foreign Leo other international oil companies. Do you have very little exchange rate risk in China because of the pegged to the dollar correct. But correct so be the Chinese currency are indeed. Is essentially Hank or trading at they limited bandwidth. Quote correlated to the the US dollar so the the revenues. As well as the the oil prices purchased by a double I would not be. Experience they are large volatility as you would say someone some companies in Brazil India. Is this company that is expected to. Expand their international presence in any significant way in the next year's NL. Most of their businesses in China right now they expected to start trading. In different areas they're doing business in different areas are pretty much just staying. All geared their bread and butter is definitely in China so the they do purchase oil all around the world. Middle East. Also part in the US but. The bread and butter of the of refining businesses. In China because he enjoys it very we'll call the transportation pulse but was that government protection. All right we'll tell I appreciate you all coming out with us today thank you for the information. Thank you actually that was taboo for Morningstar the company again is seen OPEC China petroleum court. Ticker is S&P. Pretty good dividend. About three 3.4 right now I'm Sean. For four days in my Iran they live at a special dividend at one point I think it's 34. For regular dividends. They if you're out and looking to buy a home this spring leader bank has built a phenomenal reputation among real estate brokers. As the lender of choice for new homebuyers. They are local community bank but they do more home purchase lending volume in Massachusetts. Than any other bank including the mega banks. If he'd like to learn more about leader bank if you wanna talk to them about a home mortgage you McCall 877691. 7900. That's 87769179. Zeroes are just have a robust web site meter bank dot com. If you one more information from the right chuck I saw McDonald's cutting seven sandwiches. From their menu we talked about this McDonald's. I I don't know if you stayed there in trouble but they're definitely in turnaround mode. Yeah and and the reason that they are cutting these items from their menu and pretty much what they've asked that acts rather the deluxe quarter pounder Berger as well six chicken sandwiches. And really they've had a case where there are many was expanded rapidly in the last few years they've gone from 85 items which is a ton to begin with in 2007. All the way up to a hundred in 21 items and when you look at this from two different perspective. Slowing them down if you walk into a store now. Indeed even if you're ordering a big Mac it takes longer because the people in front of you are ordering too many different. Types of deals yet and it's it's not good for three gift from three different perspective wrote the first as you mentioned is just too many things for. The the staff to be able to process officially the second is just from a logistical standpoint you also have to make sure that you're getting all these products out to all the different stores it's expensive to do that it's expensive the budget the right way. And third. If you're consumer going in there and you see this massive menu well look there's been a bunch of studies that have been done that so that if you give people too many choices they make no choice at all and decide to walk out so. I think that if you look at this. And take a take a page out of some of the stores that we're seeing such a little away or. You know panera five I think is really sad and Aramis than an air date yet but if if you look at and even an hour news eight they've got maybe 3035 things on the menu that's about as big as I would go you look at chipotle it's you want a -- if you wanna brittle ball what what he won in. But Republicans you can walk along with the kind of like it's subway. Right or or you go to a five guys would you want a single burger double burger you want with she's is that we're in the same way where you walk in with a guy don't they make they make it on the grill actually. So it's you've pretty much they give just a list here's all your toppings you just customize them. I'd adult it's simple. May McDonald simplifying their menu. It's a long overdue and in this isn't enough they need to continue to cut out 96 dollar stock today with me three and a half percent dividend yield on. Yup what is that mover ever gonna go public. Op probably not until they have to because I'm guessing there's a lot of stuff they don't really want to disclose right now. In terms of potential legal outcomes and things like that they don't they don't need to have that all floating out there because in a number cities you have legal challenges from all the taxi. Obviously never seen this new thing coming out where they're going to now be trying to deliver packages and food and and and I think this is a huge opportunity. New York City only parts of New York City in Chicago. Where they're going to be date they're doing the package thing. But there's this food delivery during the day they will get to this in the lap in and I think it got a huge to get rid of that extra capacity now. Hot and listen thanks for joining us on the financial exchange you can find all of our extra stories on our FaceBook page we are these financial strain on things. 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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 if 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 -- reach high gaming guide they can help 8668106422. You've worked your whole life saving towards the timing doesn't make sense to get professional advice to make it last 8668106. Or to kill. Securities offered through securities America ranked number fin rot if they PC an advisory services offered through securities America advisors and Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Had boon here with a word about banks' safety do you think your money in the bank is safe. Don't bank on it a generation ago bank account felt secure and they pay the interest. This encouraged the virtue of thrift. Saving but the day bank accounts paid virtually nothing and shifted from lower risk the 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 who will be here this. 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 bank deposits are safe. Yet this vital new white paper now call toll free 8051960. To 71. That's 800. 51960. To 71. Your favorite news photos and sports updates on your phone when HP 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 as a 134000. Dollars per year how quick they 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. And you haven't done you planning. Before you write that check pick up the phone and get some expert advice that a lot firma cushy union Dolan has put together a brainy guy for 2015. Called planning 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 at your kids' inheritance coffee you're free procrastinate just guide right now at 866. 84856998668485699. This is the financial exchange we've Barry Armstrong. Street stay on top of breaking business news and Lou how to manage your money to help you towards a more secure future he'd still thought initially exchange with the euros. Barry Armstrong. Hi everybody welcome to the financial exchange. At a busy hour for you. Going to be talking their two interviews of the tea with the unions will be joined by cal Cheney talking about paying for college without going broke I made the comment the other day. That I did not think parent plus loans were good deal and I made the comment that I didn't think you should take out a parent plus loan. Of course after making those comments I was inundated with emails from our audience analog pepper plus why's it such a bad so. I would try to get a third party opinion on that topic out Cheney will join us on that. And then now Daniel Kaplan from sports business daily. Is going to explain to us why the NFL is losing their tax free status. Cursed me I didn't know they have a tax freeze ups and as he'll explain it doesn't make a huge difference for them. Little bit of confidentiality. That they pick up some confidentiality. By going. For profit. Corrected in so explain it really doesn't change much because of how the league is structured financially. So get to. Those two interviews. You know during the course of this hour. Tugs ought to joins me today on the financial exchange and by text number if you wanna. Send us a message or text number is 68680. Wanna go to this Bloomberg story. Get a text message regarding Hoover sequence seventh says Barry Cooper rush cost ten dollars per delivery. It was tested in New York City last year my wife has a downtown Boston flower shop. And we use Lowber drivers to deliver every day of the week in the cities a lot of people. Yeah it's for small businesses I can see it being a very useful service especially something. When you're talking flowers you need to have that delivered and on demand someone's on either side should get flowers related to you need to be able to do that on demand. I think and it's cheaper for the flower shop. Rather than have the flower shop having their own bands break out if they're much better off. Have then you know Hoover just come by and say OK I've got four deliveries. Over. On a third street and here they are and and leave the way to go belly of the employees in advance to maintain probably depends how are. Deliveries they're making because you figure out if you're making a significant amount of day there's a breakeven point but if you're doing a couple deliveries today. Yeah I it it makes it on a sense the one thing that you will see is this just in terms of overall transportation isn't the most efficient way. To get goods around cities and actually may result in a little extra. Congestion from it because you think about you don't have one driver necessarily mean don't all these deliveries you may have additional cars on the road so. That is something that you may seem because of this is additional can Jack could. For the uber driver. Yeah they think about the uber drivers probably jam and between college 6 AM or 7 AM and maybe 9:15 AM. And then they're jam and again between four and 7 PM but then they probably it slows down. You know AV in and there this is a way for them to make additional money while there are or rather than just heroic effort affair. That gives an additional flexibility to say look if I can't work on nights a couple times this week maybe I go at work during the day delivering packages instead and so. I think he gives them flexibility allows that inventory of cars and drivers to be utilized on a greater scale mom and I think it's it's huge for them to be able to continue to build out. Different lines of business as well you always want to diversify never did one dwell too deep what is. Do I know Netflix as you guys taught me about Netflix she taught me and I knew DirecTV and Comcast and all that stuff. A new HBO had a subscription service but Hulu I'm not familiar. Hulu is a partnership there it's it's really company that's found as the partnership between a lot of the major television players say your ABC NBC CBS of the world they own minority stakes in. And pretty much what eight dollars. Is it allows them to go and sell the content to this platform. In order for people to watch on demand streamed over the Internet so for example. You can go to who right now and if you want to watch every season of modern family if you had a subscription platform. You pay I think it's ten bucks a month and you can go and watch all of those episodes whenever you want and that's the only place you can get it on. There are so he can't get you couldn't get to sign filled it Netflix outside they'll know is not licensed Netflix and and look there's some shows that are licensed to votes Netflix and Hulu the hum that are licenses one and not the other. But this is a way that they can actually get some of the revenue from streaming so Hulu just struck a deal with Steinfeld look to solve pretty much they are going to be allowed to broadcast. There. Episodes on who now. Don't forwards over the years that they you know how many years on. So I felt we've nine. Yet but the car I think was nine seasons. With in general my opinion being at the season's 47 being the strongest of them but that's set separate story but I says it's a. At least of a trivia question what was the first year. That Steinfeld. Aired muted television shows signs held. Was it 1987 was it 1992 do your homework. Who's the first year that the sign follow episode aired you know the date it's it's kind of a top state figure out. Our text number 68680. Doing yourself a prize that should happen in difference with food to see now now is they do and ads as well so subscription plus that Kim blast through the ads now now. Real yet but people still do it. I would. I know our people do I don't watch ads but some sit chuck point yes some shows are on both Netflix and Hulu application obviously probably gonna sign up when Netflix. If one show that you specifically want is only on Hulu you know you'll pay you deal with the yet. Right any I don't forget may fifth feeling of a few days left to sign up for our financial exchange remote. We're gonna be doing our show from the Dunkin' Donuts center in Providence, Rhode Island to live broadcast. And then it'll be followed by lunch and on by hand so I hope you'll join us the phone number is 844. Two to 48687. If you like to join us. The financial exchanges coming to Providence, Rhode Island next Tuesday and have a limited amount of time to sign up. Phone number 8442248687. Its full free bring a friend feel like it's locker room 844224. 8687. Chuck what do you make of this ruling coming out of the SEC. They are. Invoking new rules. As it relates to executive compensation. At publicly traded companies. I think that when you look at what they are describing doing here I think it actually makes a lot of sense in what way in that the op primary thing that they're looking to an act is. Simply disclosure on an annual basis of compensation of top executives compared to performance of the company. And so it's a way that you can help to bring about greater accountability from top executives by saying. Look here's how much you top executives were paid compared to how the company performed them and it does so in a way that doesn't do anything it's it doesn't force companies don't do. I'll pay there employees and any specific way. But it just gives more information to stockholders and consumers in terms of if they want to make buying decisions now that will be required to be made available call okay so it's not there the SEC isn't coming down and saying you can only pay your CEO this much money you're not only to pay your chief marketing officer. This much money they're coming down to saying you have to disclose it. To our shareholders there's they're saying to essentially and they're gonna do it disclosed total return so they'll include stock compensation and things like that. But no they're not gonna say that I can restrict the top paid of companies and this is this is what I tend to actually be in favor of in legislation is. Look I want additional disclosures of the people can make an informed decision I don't want someone telling a company. How to run their business how much to pay that people based on education exactly which I'm in favor book give people as much in those possible in and let them make an informed decision. Coming up we're going to be joined by how Cheney. He is going to talk to us about deciphering. Your financially package it I know many of you are sitting on those right now and you're trying to make a decision as to where your children are going to be going to college somebody Texan in by the way. That their kid is looking at Loyola and airfield and they took a little off the list after the riots and snuggled Fairfield University. Is it fair that college fair field Fairfield University I just wanna throw them there's relates to an earlier story. So that's our next topic how Cheney will join us to help you better understand the financial aid got office. With a battery in the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange. That work. You've probably heard that if your spouse goes into a nursing home your primary residence is protected but did you know that he's only temporarily saved if something happens to you your house becomes 100%. At risk for the nursing home advance planning is ideal however if you do nothing else you need to have your basic state planning documents in place this will I need to save some if not all of your assets last minute if you or your spouse enters a nursing home Cushing and Dolan has put together a brand new guide back to the basics it's a complete guide to a state and asset protection planning call for your free copy now here's the number 8668485699. This guide will teach you the fundamental basics that you need to know about estate planning 8668485699. This is a limited time offer so call now 86684856998668485699. The decision of whether to accept an early retirement offer is not an easy one to make it may sound like a dream but there are tax and retirement plan implications that must be considered if you're not 59 and a half you may be faced with steep penalties for withdrawals from your retirement accounts will your employer paid for medical insurance or will you foot the bill until Medicare begins what will be impact of an early retirement be on your pension and Social Security can you afford to retire now and if so how much income what you need and where will it come from Armstrong advisory group has made available free guide called evaluating. An early retirement offer here's the phone number 866810642. To let us help you make an informed decision call Armstrong advisory group now at 8668106422. Members and IPE and I think that if America I am unhappy and it our group and companies an. Attack at any and investors searching for relatively low risk investments that can easily be converted into cash often turn to certificates of deposit 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 -- bank a step ahead mineral deposits open and -- annual percentage yield as 1000 dollars Massachusetts residents only penalty early withdrawal including iris penalty which may reduce earnings rates subject to change without notice member accuracy rate effective November 4 2014. 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We believe this business and financial news in your pocket and at your fingertips download our mobile lab by surging financial exchange show in their Google play your iTunes stores this is the financial exchange or radio network. Everybody welcome to the financial exchange were talking about a topic as it relates to paying for college. And we're joined by Al Cheney who's the author of the book paying for college without going broke I was like I wish I'd read the book before paid for college and went broke. Cal howry today welcomed the show. Hello. So cal I wanna talk to about deciphering these financial aid. Offers because it occurs to me that some of the offers. They beat these Fannie toll packages are really just a lot of student loans and you know. While they beat them on the parent loan the real key is you know a lot of complexity they say about having it to just understand what the components are the package deal. On to understand some of the terminology. And in terms of reviewing the packages the I thought the matter so much is what is the price you're expected to pay air that the free money. The grant in the scholarship or deducted. And the free money that could consist of a pell grant. At the OG grant which is another federal grant it can be a they grant. It could be a grant from the college scholarship from the college. So if you deduct those amounts from the clause that says tuition fees room board plucked lapses purple. Supplies transportation personal expenses that'll keep you good idea of comparison and we happen in the book we actually have a chart though people could used compare the packages. Now are some of the grants temporary in nature count and how to how would you know that as a consumer. Well the grand. All the time to look at what you want sometimes that that they had mentioned bait and switch but a lot of on the packages are reduced if you're getting need based grant money for example and it the second child going into college. Well when the purse the oldest one graduate from college in the knows only one in college and young for then that old war is gonna change significantly because the biggest factor affecting how much they can get it how many children of the household are simultaneously in college. During that same academic year that's the thing that moved the needle the most so sometimes that happens or. Perhaps even people in the wrong things when they're paying for college for example they withdraw money from retirement account which isn't known though for any reason for doing that early because of the you're missing out on the tax benefit to doing that but if you do that and an eight year not only good could it be taxes and penalties but it could also be law states you might have a doll. Every dollar take out you might have about thirty that actually pay for college. Or not pumping you wanna be doing so that's why you need to think ahead to preserve your eligibility after getting scholarships though that you want it to school if they're based on merit what the minimum GPA you must maintain to continue to get that scholarship. What is that typically kill. It Barry called cooled a little bit more than a three point oh is getting up to be like we. Point 33 point five that's putting a lot of pressure on the student. To perform. Com. Little room for error but I'll I'll. I'm there's no minimum lump on the might be two point seven that we point hole on the which means if you wore a hat that you wanna be careful with the students like in the courses. Course Shirley told this is it hard to explore this at the time to challenge yourself but petitioning. To get into courses where you don't have the necessary prerequisite that would be in don't know. Taking courses which are. Dominated freshman year with upper class students taking knows more upper level course you petition in two with especially or even qualified for that bit risky could the upper is no label it a lot better than you will as a freshman they know what it takes to get those great. So you need to be careful that you'll need to understand that would merit scholarship. That that bill. Value win today's dollar is gonna decline over time because the awards gently on indexed to to which inflation. So the warned that if they meet Cuba that we should keep going up. And sold a valuable that is percentage of the entire court is gonna decline over time. And date you have to be aware of some of the hidden costs of college as well like lab fees and books and things like that. Right that the one thing compared to school to make sure you're comparing apples with apples. And build some schools we'll just let their court their thick. Look like the tuition fees if you're living on campus development board for all of this will give the comprehensive course the attendance. All of on the student budget which hole include allowances for book transportation. Expenses so you're living on campus. It on one at about another 3000 dollars. To that court for the figure per out of pocket expenses spoke. And transportation if you're living at home and be one of factory in the court that daily commute. And realize that some schools and their comprehensive course if you're living it horrible and will allow a war. Of course the living a whole. We're a little bit for board. Cal what your thoughts on these parent plus loans I was looking at them the rates seem awfully high and he was six point 2% last year and I think it's seven point 2% this year. My gosh that's an awful. Burden for a parent to it to bear. All those rates aren't actually the rate that will be an aspect for the next school year and actually we're looking at that. Com. The past few days and if there raped or based on the ten year treasury note auction at the end of day. So don't mobile know what those rates are but based on where they are now those rate we're looking at. Especially after the report today that looked like rates are going to be going up much. Interest rate yum it looks like they'll rate could go back down another almost full full full percentage point. From what they were at those are fixed rate loan whatever rate you bar wet days for the life of the loan. The one benefit of a plot although compared to apply that loan is is that the credit has that much easier to tea. It's not based on Michael scoring like a car loan or mortgage. They're just looking at the you have an adverse credit history gently more than 98 lonely campaign in these judgments that are so easy to qualify for that. Armed. And the only thing with the plot loan is weren't a low rate environment a lot of the private loans are variable rate which means there's the interest rate risk that the race could keep going up and up and up. With the clock on their fixed rate loan the other benefit of applause almost two apparent that the unfortunate happens they become the staple. Or has the way that loan is this charged. Person that they pick at a private home that this student take that with a coal miner if one of the parties passes away become stable the other one still responsible for the loan. Okay cal is all this information contained in your book. Yet as that and a lot more in that it's not the memory of people to plan ahead no matter what their financial resources and the start thinking that the two that they do the better Amazon Amazon.com. Amazon.com also can't has consultant Spock com we have a direct link on the air to the book through Amazon so you get the proper issue at that. Very good out Jamie thanks for joining appreciate your time thank you. You know maybe if things. You know I and I I don't know your opinion is on the instructors like younger but. I I've just I'm very hesitant. To recommend that a parent take out. Personal loans to pay for their kids college education I just my way. I I wouldn't you wouldn't know who I feel less guilty. Now I wouldn't and in particular when I look at the situation now I mean I think that a major reason why you've seen the cost college goes so high because people been so willing to do ya to a certain point. And I think that you know what you have to do now is run the math and say look it's gonna cost me 200000 dollars. Do like eight wanna be on the hook for that in beat are there some better options that may even be cheaper that I can finds its trade schools and things like that that may actually. Five to better option but if you do go to college route you say okay do wanna go down that road right. I think in a lot of cases the student should bear a lot of that burden because. They're the ones that are essentially if if if they're like that you're trying to improve there I don't think that you want to have the parents on the hook for. You know 101520 years trying to pay this and selling them and see it as it doesn't make sense to me. I made an off the cuff comment to that effect. And of course I got approached after the show about that because people have these pair plus loans and just think it's a terrible burden. For you to bear. As you have in your retirement years because. If you're if you're paid you're kids' college at. I mean during your late forties early fifties right in theory this tuition check ups and also a new take on the world. Yeah I would suggest you. Use a home equity if you're gonna borrow money use your home equity line of credit use some other source. Of capital save money earlier in advance or to save your kids look I'm sorry you know the your you're going to either community college or going to a state school. He joined the military service for four years and then then come back out deer college. What that there's always this sense that look I wanna put my kids and any great design better than me but. As you're heading into retirement he did take care yourself you need because otherwise what's gonna happen okay now I've paid my kids college but they're taking all their extra money in sending it to me. In order payment under it Jason you're you're not doing them any favors with that at that stage so it doesn't help if you just take on that burden and have to pay for your retirement. Buffalo Wild Wings the stock and eat as like the restaurant right he gave you this summer is not bad that's giving a and I BW LD is the symbol for the stock it's getting crushed today down 24 dollars and 159 dollars. With the problem. Big problem is that revenue missed by about 3% which most of that'll do it like up he's been missing and revenue but they missed earnings. By about 6% actually that's the bigger concern for them is that they saw significant increase in expenses there and unfortunately underperformed that they also announced that the knock McCarrick Pacquiao Mayweather. Oh they might well shut down the hole resting right now. It's Barry Armstrong in the financial exchange on the financial exchange radio network. Investors searching for relatively little risk investments that can easily be converted into cash often turn to certificates of deposit 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 -- bank to learn more about the eighteen month CD with a one and a quarter percent -- why call 8776917900. Today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more -- bank a step ahead minimum deposit to open and -- annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member FDIC -- effective November 4 2014 Perry are strong here and I'm joined today by. Estate planning attorney Todd what's from the law firm of Cushing handle and with your financial exchange quick tip of the day. We're talking about the top ten reasons to have an estate plan. But let's talk about number four if you have a child that's not really responsible with money. Is there a way to protect them from themselves when they paired up talking about the spendthrift child you know. When that you know my children via some of their money in their pocket they burn through it you know I agree. You wanna protect them from their future creditors whatever they may be. Going forward I mean and give them an allowance as opposed to lumps on yeah you know figure out how the money can be used to sort of straight out of him over time and endured in a way that and trust can do that so that they're protecting them it's that themselves. From their own creditors. If you just that today what the estate tax exemption as high as it is we tend to be leaving more and more Athens to our to our family. Because less is going to the government well we wanna make sure we leave it to them in a way that won't perk. So keep them productive members of society so and and quite frankly the biggest concern I have sometimes is future divorces. I mean if you don't you know half a million dollars in July your child's hands and they get a divorce five years after you're dead. They're gonna lose half that money on a good day. Put it trust the trust does a lot more than just probate and avoid taxes these days it can really protect your assets for your children's from your children's creditors. That's reason number four for you to have an estate and call now and receive this brand new guy from Cushing handle the top ten reasons to create an estate plan. 8668485699. That number again is 866. 8485699. Call now 866848. 5699. The state in asset protection planning can be overwhelming word you start how do you know what type of trust is right for you hi this is very Armstrong and I'd like to talk to you about the law firm Cushing handle it in creating a state planes for folks in New England. For more than thirty years and they can help you to with all the different types of trusts available I can understand the confusion. When it comes down to a state plan do you need a revolt global trust do you need an irrevocable trust and what's the difference you needs an expert advice and they put it together free guide that will help you decide the best plan that you history guide the differences between rebel global. An irrevocable trusts is yours for the asking call 8668. Or 85699. They can even show you how it's possible to eliminate your state taxes I love that part call Cushing handle right now to get this free guide 8668485699866. Eight or eight. 569. Hi this is Barry Armstrong from the funny to 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 ad frankly that I hear on the radio I like to buy gold from local institution that I try I owned gold and I bite my gold points 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. Branches in East Arlington Arlington center Arlington Heights at Belmont Burlington and Central Square Cambridge bank 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 and. We'll look cutting their children business and financial it's it's a financial exchange with Valerie Armstrong on the financial exchange radio network. Chuck the National Football League announced on Tuesday. That it will end its decades old tax exempt status. Which it said had become a distraction well I for one did not know they were tactics. Yeah and we now have an expert on Q goes through this really figure out what it means for the NFL and four taxpayers essentially. When we look this will bring on Daniel Kaplan for sportsmen with business daily. And Daniel what does this mean in terms of first of the NFL how much they actually going to end up paying an additional taxes from. It means almost nothing for the NFL this has been one of the biggest. Red Herring issues out there the last few years you had. Congressional represented is. Make a big issue that out of this scene on. On social media I had a month the contact means it will be US treasury do you read half billion dollars in. Tax revenue. They fit this was just needs to hack this is just the NFL headquarters the way it works is that the 32 teams. From money that they they are or attacks their revenues. They pain assessment to the league office. Comes to actually 151000003. Million a year. Give that this will run the league office officiating. Operations. Executive compensation although that Roger Goodell. Executive compensation. And it is and that the money that is that people are talking about not the twelve billion. But the 215. Million which is awarding money that's been taxed. And because the Soviet built itself up as a trade association of the L headquarters. And that monies under the trade association no different than the oil industry and trade association has a trade association of a chemical industry. People made a big deal kept saying the NFL doesn't pay taxes in apple doesn't pay taxes. Piloting an apple is said. Well you know. Just change this tax status because they really don't need anything. Now what does. Does this mean in terms of operations for the NFL is there anything different in terms of what they are acquired do on an annual basis now. It makes things easier for them they don't have. Have to file protection term publicly they'll be one more because the tax returns are trailing by eleven months so on February 15 next year they'll file. The tax return for the twelve month period ended just last month. And that will include Roger Goodell compensation information and that will be the last time that we get that we get to see that unfortunately. So I think IR. When people were talking about this over the years I at least head. This is a bad thing try to get them to give up as well learn a lot less about the NFL once they drop their attack tactics that status. They see the debate recently eaten. It was just an inconvenient for them to have to go through the motions of a changing it they have some up bombs that loaders stadium on the boat crew. The the NFL headquarters they are taxable bonds. But he still had to go to the bond holders to change the how the wording on this bond then I think anyone an audience knows and you go to bondholders change. Bonds said date they'll put something in return to that was really did did the main issue here it would not be in oh my god it paid taxes on. Twelve billion dollars a year. You know it was just Newton more mechanical. Now this doesn't have any effect on the antitrust status from sports broadcasting act of 1961 it doesn't affect anything from that decision does it. It doesn't change that now on the and that that is still no life issue it 10 wants to go after that it you know I I thought the shame about these nonexistent tax exempt issues that people kept. Racing was that there are legitimate issue to attack in a fellow at the the public subsidies for NFL stadiums look what's going on in. Saint Louis right now. They did there are plenty of areas of legitimate grievance with the NFL. Well why go after them. Again and again I mean you had it senators and congressmen that. Senator from Washington can't dwell put out a statement you know boasting about bad about this and it's out it. It's incredulous that EP disc disc is continued in the NFL incredulous that they kept trying to say it is not true no one. Don't seem to believe them even though it was a true. Did give up almost want to keep this up just as it did distract people from other issues. I have a few people stayed in the it was a great red Herring which you forget it now because it did it would distract. I think big up for them you know any you know that knowing that they'll be able to you know hide the executive compensation information. The Roger Goodell compensation. I think I mean look that was you know. If they are gonna do it fell off a good reason for them to do it up people think it's the only reason they're doing it that's not that's not what I've been told from Boca in the NFL. Just really grew tired of defending this. All right well Daniel I appreciate all the info here and I thank you again for the insight. I that's that Daniel cap Kaplan from sports business daily. And made by the way Aaron the answer to our trivia question was July 5 1989. That is in fact the year. That the first sign filled episode aired we have a winner on that track how we do have where I actually don't have the name of voting and we do have one right. Go pro. Betty. Grew their profits. By 52%. Their stock today shock is civil Ford is GP article it's up 11%. Today we have. What is a stock that if you remember last year IPO. A year ago now in a mid June yup and opened up kind of in the forty range and actually spike as high as 98471. Points more than doubled. Since its IPO and then over the last six months. Really slid back down into the low forty range and it's not I'd actually considered buying at one point even though the valuations are certainly crazy by a number of metrics there. It's it's definitely. Moving in the right direction in terms of their business operations here because the only way can justify such a lofty valuation and their training about seventy times earnings right now. The only way you can justify what is if you think the growth is there but is it had been eight. I look at this company and I say okay let's you know at the mobile camera. What is to stop. Apple from competing with Cooper what they're trying to build the company into is not so much the mobile camera but the content that's produced by them and so they're trying to turn themselves actually into a media company but the YouTube. Similar but more of a niche market in terms of a lot of people who use go pro Israel with the first users were doing is while they were surfing or skiing or snowboarding right shooting video or maybe your hang gliding in shooting video and so what they're trying to do is turn it into a destination company sort of a lifestyle company for. That hype. Of consumer and in that way they're trying to. Allow people to post videos they've shot and then allow them to participate in some of the revenue that's generated from them so they've got a very interesting model there. The big question is are they going to be pulled up and look as you said. Anyone can compete on camera tech. We always think about like Samsung apple I had to Google and I just look at this company Nancy it is right. For I I don't see the mote you know like when I look at a company. Like chipotle they have remote it is very difficult to two coming in to compete with triple a what I know is it. I think so I think the debris and they built truck Apple's another company but hugely. You look it would go pro is done inside of the sporting community out they've done the same thing at edits and it is the name out there when you're talking about this type of product it's it's really the only if it's the major one on the market their other competitors you'd think that their technology is better than anything it could be manufactured by a competitor I don't know anything about the technology in terms of whether competitor could beat there's always going to be someone who's gonna come out with a better product the question is do you have the better brand loyalty because look. I'm a Big Apple fan yup apple doesn't necessarily have the best product out there in a lot of cases. But they do have the most accessible platform. And they do have the best brand association are that I am I will win the that's why they went it's up because the iPhone is the best product in some cases recently. Sampson products have been better but the iPhone has continued to gain that foothold. Because of the brain and they've built around. They also just bought a virtual reality company I think it was announced yesterday possibly so that's kind of the next phase of what people are working on virtual reality it's audio on FaceBook but ought USA I think we're par on that right a year ago or so and that's almost coming out so we have heard anything more about FaceBook. Buying your cat that was the rumor we talked about on Monday now I recognize it's still up in the air. That's that's a good place the only veto by near camp they have that something like. The problem that you're seeing is that a lot of places are starting to like you've seen your cat is now house people were broadcasting sports games covering sports game to reporters. Are allowed to use it for multiple weeks now. They they've handed because of reporters reusing it and it was cutting into the fees that people in that the people actually watching the race the real eat. Those crazy as that sounds I think when the patriots who go to the White House the other day now somebody in the picture Gergen as I've had a camera and they were just in the tunnel going out as the players walked to the bus they weren't saying anything the player just walked by. I was glued to that thing waiting for Tom Brady. I don't think I stopped watching it for fifteen minutes you know he was there queuing is not a little with the before it was all about those expecting Tom Braden walked through all of this is on the way to yeah I'm seeing Danny Amendola walked by and wait for the camera how many people were watching that all thousandth loser that is who who's posting. It must have just been like an intern with the patriots nobody had to be somebody you're following owes the patriots either their periscope account or it must have been the patriots Paris found from the patriots Twitter. I think that is new technology that will take hold a in. And sporting events and I wouldn't worry about a from the switch is gonna watch a sporting event to not gonna watch on parish school from your cat your collection on. With real cameras and what about cutting the court. Still what we're not I don't think you watch either you watch an NHL game on mere matter what I wouldn't mind if there's if I'm going according so. But if I'm cutting the cord what do I care it's my way I have. I haven't dug equality I haven't dug too deep into that they blocking the use a periscope. Before or after the game as well highly sought during. I always like hearing them extensive rights with other providers right exactly evidence if a guy. If you're not this year an interview for Tom Brady it's at 5 o'clock news and this guy can give acute in the moment 11 in the book the viewers that FaceBook bought populist is that you can set these cameras up in a sporting event there's so we have wherever it is in a sporting event in say OK you put on your populous and you're watching like here at the sport I can charge I can't wait to see it back with my eyes off I can with what we could all be at the Baltimore Orioles game today you know we won't know you'll probably could be there through that through the left. You're not gonna believe where Wal-Mart is expanding yet that's right Wal-Mart is opening a 150 new stores that's our next story on the financial exchange. Get the market updates hey I'm. I'm here in the financial exchange in the financial exchange radio network. When the time comes to retire don't just roll over your employer plane into an IRA whether you've been saving in a -- K for a three -- profit sharing plan or money purchase plan -- generally have several options each of which has its own advantages and disadvantages if you're entitled to a pension your employer will provide you with various choices for how you would like to receive your balance did you know that if you have company stock in your retirement plan there may be substantial tax savings opportunities for you to keep the employer stock rather than just cashing out and rolling over the proceeds to a -- and we are making available free guide that will help you learn about distribution options from your employer retirement plan assets 8669579902. That's 866957990. -- -- topic it's pretty American member and SIPC advisory services opposite securities America -- Gary Armstrong represented our advisory group in the securities America companies are not affiliated please consult with -- while -- tax expert for any activity concern. You've probably heard that if your spouse goes into a nursing home your primary residence is protected -- -- you know that he's only temporarily saved if something happens to you your house becomes 100%. At risk for the nursing home advance planning is ideal however if you do nothing else you need to have your basic state planning documents in place this will lie to save some if not all of your assets last minute if you or your spouse enters a nursing home Cushing and Dolan has put together a brand new guide back to the basics it's a complete guide to a state and asset protection planning call for your free copy now here's the number 8668485699. This guide will teach you fundamental basics that you need to know about estate planning 8668485699. This is a limited time offer so call now 86684856998668485699. Escape in asset protection plan and can be overwhelming word you start. How do you know what type of trust is right for you hi this is very Armstrong and I'd like to talk to you about the law firm Cushing handle it in creating state planes for folks in New England. For more than thirty years and they can help you to with all the different types of trusts available I can understand the confusion when it comes down to a state planning do you need to revoke global trust do you need an irrevocable trust and what's the difference you needs an expert advice and they put it together three guy that will help you decide the best plan we view history guide the differences between revoke global and irrevocable trusts is yours but he asked call 8668485699. They can even show you how it's possible to eliminate your state taxes I love that part call Cushing handle right now to get this straight guy 8668485699866. Eight or 8569. Investors searching for relatively low risk investments that can easily be converted into cash often turn to certificates of deposit or CDs leader bank is currently offering an eighteen month. CD with the impressive. One point 25% EPY for new accounts with these kinds -- -- 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 EP 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 earn annual percentage yield is 1000 dollars Massachusetts residents only penalty early withdrawal including iris penalty which may reduce earnings rate subject to change without notice member at UC rate effective November 4 2004 team. You showed little for everything business and finance it's the financial exchange with the barrier. On the financial exchange radio network. But the headline reads Wal-Mart is going to build 115. New stores in China by the year 2017. Is thinking to myself when I read the story chuck. And how much of their merchandise is needed to. I would imagine in I have to do little bit racers but I'm guessing anywhere between 25 and fifty with the rest of Vietnam over the rest of primate right around there anyways content Vietnam places like that ayalon I think that look it's clearly a market they want to growing they're also going to be refurbishing fifty stores in there. Over the next couple years and so this is an area where they're trying to generate growth because if you look at the US numbers they've been very stagnant. In a largely Mexico. You know is just they're they're facing so much competition in the US as well as people starting to take some of their business away from Wal-Mart deliberately just because they don't necessarily. Like the labor practices the way they run the company and things like that so you start to see that as well they've got some headwinds but it's still me talking about the biggest employer in the country. There's no market hit much by Amazon. And other online retailers so. I don't know from my own personal experience so I I never really shopped at Wal-Mart on. I use Amazon prime markets they get free shipping and so well you know I made by some that for six dollars net chip to the office or something like that. But I that's not taking business away from wall market and is doing it on their anyway so I don't know how much they used Amazon at this point I think long term especially. Where they could really start to lose out Amazon is if Amazon starts to get in the same date grocery delivery. Remember that Al Wal-Mart is the biggest grocer. In the United States by a wide margin by about fifty for ADR that there apps that absolutely massive enough by 50%. They make up about 50% of grocery sales in the US so. If Amazon consensus look. We're gonna charge you fifty bucks a year to deliver all your groceries. How how how my guess they know now that that's where he starts he. Problems rule. Don't forget may fifth is right around the corner in the financial exchange will be doing it looked remote broadcast from the Dunkin' Donuts center. In Providence, Rhode Island you are invited we're gonna get there around 10 AM. We'll do the show and then. You're gonna have watched again it's gonna be a great day and I sure hope you'll join us the phone numbers toll free 844224. 8687. It's a free event but reservations are required. 8442248687. It is Tuesday may fifth. At the Dunkin' Donuts center in Providence, Rhode Island you are invited. Told for burger friend if you like 8442248687. Is the phone numbers to call our eight. Before we talk about this next story tenders paid version being hit maybe be good enough to explain to us old timers would hinder his personal. You're asking me to explain what tenderly your young single guy Dave's. The young guy on the camera I've ever used and I don't loudly in Canada had you wouldn't admit he had. So what is what had what Cindy is it is a it's an app that you download on your phone and pretty much what it does is he put it links to your FaceBook okay. And what it does is it puts pictures of people in your area in front of you that you can either choose to accept saying you would like to go on a date with them and they're just your FaceBook friends only. No this is anyone's and you anyone on the service in your area okay and you you can set the radius I don't know how big you know you'd probably a lot like. Fifty miles they've suffered any guy I don't know if you look at it I don't know I yeah I wish that's in college when I wish I had I don't I pretty much what you what you do if you just like to one side if you want to see them and if you don't you swipe to the other side the answer it that's that you slight that you wanna see then what happens if they swipe that they wanna see you was well it notifies that there's a match and you could start talking. Do they get notified that you swipe that you like the I'm not before hand notes it's it's blind on both sides until there's a match. So it's completely blind to its that you don't know of anyone likes you until. The other until they're confirmed matched in and it says you've match was so and so I think right I think that's no word yet so. I don't you guys to use the Serbs by. Is it commonly used among Europe peer group all my. Anyway I'm single only anyone who's single. Anyone like fishing with dynamite there. And humbled anyhow so like if it is and let's just hope paid for hours only to people on it so what they what they did is about I think maybe 68 months ago they pretty much said okay. In order to get more than like twenty years fifty year a hundred swipes today in order get more than that you have to pay us ten bucks a month. And so it limited the amount that people could use and of course people are so hooked that's OK I'll pay ten bucks a month. Talked it is sees many people as possible and so that's what they're seeing now is that they at a higher than I expected rate of people converting over to the papers to beat. It is it's it's awesome. It's off. If I had in college they can get everyone you got he got five to get seventy got tens with the with the equal opportunity chatter. You got you got anything you wanna know what they want that I don't after ten minutes of scratch you don't have I ought to go hard on the excellence at home and you're swiping and someone says yes it's eighty wanna come over. I don't even have to go buy drinks. That I had to begin with and also it's not a dating web site it's a wrote it's it's it's there's that dating aspect is kind of hook up there's all kinds of stuff you anything you want to find them. You know it's moments like this and I'm glad I'm not 25 and trust me you're one uses backed off the it would have been fair whose Decatur just put his profile picture contender with his bank account. I felt like yes well. Did he put a picture of the amount that was in his bank account there how much as it was it was like an attack news of the matter if it it was it was a lot of money and and he got a ton of response that you had a busy night that they get a better response that is a pretty they captain I don't. So I I I'm pretty tired and stale moment I'm an older Jenner is Seattle thing in my generation is Tamara. Yes I. Well. I think you probably are at you probably see actually no you definitely see it yet you'll remember that the cougars are what is going to. Is every other dating service now solid tender was doing and how they're stealing some of that concept and that technology is all moved to the other generation uses match dot com I don't know match does I know on OK cupid does it I know people. You if you heard. But so. I guess openers I wouldn't be allowed on this unmarried looks a site that I think you're married to try to cheat. Dave and I did I but I whatever them. A story for another dead will will do that research and report due tomorrow. Thanks for tuning into the financial exchange who put all that stuff on our FaceBook page we are the financial exchange companies. Are you ready to retire the question is actually more complicated than it appears to.