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Full Show 12-5-16

Dec 5, 2016|

Full Show 12-5-16 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks are. You're exclusive look good business and financial news affecting your day you're so leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. It feels good to get that close. It's no fall under our belt get used to it folks it's December 5. Which means for the next four months he you do expect a little bit of snow this drive a little bit more slowly on your way into work and everything will be fine. Very Armstrong Tucker Silva and chuck is not a all of us here to try to guide you through this winter snowstorm actions morally and dusting. Yes still freaked people out on the road though pages forget how to drive is a little or no is nothing of that muscle. Little big slowdown a little bit there's no rush of rough Laura. You're you're gonna get there one way or the other this matter what we get there and have a fender Bender and pray all is going to be a lot of those yes certainly on the way home yet Oreo. Many of close but he Biden might tonight it'll be it'll be gone in alone will melted away thank heavens you don't have to worry too much about it. In order talk to you about a millennial. Driven technology. That is coming to a store near you and it's coming pretty quickly. Amazon is developing something Parker called in was on go. Yeah what these are ease these are essentially he. Think. Small grocery store smaller than a whole foods. But bigger than Cumberland farms and cracked and they're gonna developing store so you'll walking into the store. And you'll carry your bag with fewer you'll hide your cart return. And you put items in your bag your card if you're just shopping offered to people you might just use. You know one of those shopping bags bring into the store with Britain reusable bag or a reusable the island back. That you will go through a cashier that you buy your two oranges you'll buy some Hamburg you buy some macaroni. You buy some potato chips and kept him out of course literally yogurt chocolate butter cottage cheese and chocolate bars but you're not going to. Yeah you're you're not gonna go through cash here and I think about how much time do you spend in the cashier yesterday. I went through BJ's with my son share. We had I think 200 dollar for the IQ how long it took us to get through though it BJ's yes that place and it really crowded so I'd. As ten minutes 22 minute point 92 minutes and hopeful. I wanted to seek or receive it from the time I got into the yeah line. Right now and in going through the line Tucker. Where and when it was time to scan your items are and pushed them through via the the counter right. There were three items that failed they just couldn't get through you know the the the I had to have somebody help me I get it into the flashing light or whatever. And call somebody up so would Amazon does is this technology. And and near the company the technology leaders they're gonna have these little. Grocery stores. Located throughout the country from you walked in. And you walk straight through there will be no cashier Saudi check out I don't get it on your fold yup they'll be code that you put in front of the yet there's this bar reader. In all the items in your bag will be measured. Ha so the you won't actually. EE you'll never at any point we have to go through a cashier line really about how much money that sees the grocery store imagine a market basket. What about a market basket or for store. How many how much money did they spend on labor for cashiers. Death at 1520 at an hour that plus benefits and everything else. It's it's it's mind boggling to think. This is technology you'll read about this to more just got released about twenty minutes ago currently the the press release on that it is there was going to be made available next year next year that's they are gonna start opening their COLT and those on. Build from stores in trucks already trying to find what's enough there's going to be one in Somerville. He ought to has to be the they'll be. He'll be cropping up in highly populated areas to track this is this is the future of shopping. So it it looks like they're starting out with one store in Seattle. And it's only going to be open to him Amazon employees from naturally there so I guess we don't actually see this for 23 years yeah. The lights but it if the Amazon's doing don't you think doesn't it force market basket Shaw's Stop & Shop to do the same thing. It depends how good they can get the product you Stop & Shop is sort of has now right where the use gain your own items. Yea ticked I don't think when you're around that it he's at Sam's Club or wherever over the weekend and he couldn't get it to work BJ's and the darn thing didn't work who's in this is the same thing it's Stop & Shop half the time that work. Is you know you get somebody's putting their stuff and wrong and they break the whole thing so. I'll believe it when I CA and that it actually works and until then I think it's a really cool concept and a cool idea on butts. It doesn't address the big problem which is which of those lines at the end when I'd prefer seeing what you're seeing a lot of stores starting to do now. Is they give you one of the scanners scan as you go in and then you pay at the end which makes it I think a lot cleaner because then you don't have a whole back up. Reliance why doesn't everyone do that like that that's something that makes more sense to me is look to scan everything as you go right. And then you don't have to deal with on putting this on the but they say you don't even have to scanner that you just put it in your own bag. And you walk through the turnstile. And you show kind of the way you would pay for your pin you're an error rate everything's on on the I'm curious I'm guessing it's probably using our idea in order to it's either that are near field communication in order to handle the system if they do that it's gonna add some cost because both of those systems RID's relatively cheap you can do that for probably an extra. Fifteen to twenty cents per item if you're talking NFC it's gonna be incredibly expensive for them to do that and that would add some significant call this is all by the way millennial. Driven this this is not my generation insisting on it. It is your generation. You're lucky if you look if you walked into panera or Starbucks it's not the 57 year old guy that using the phone papers copy it's the millennial. Dell it's insisting on this. But it's you know the millennial is the largest generation in the country in so you've got these companies. Catering to these the two these shoppers but you wonder eight so that's that's what's coming in terms of technology. But what do you do with all those jobs would think about how many people think about your your typical with the grocery store you go to most frequently chop chop. And that probably has 80900 employees yes same here in one store depth okay. How many of those are cashier's. I would say probably. Somewhere between a quarter and a third so just imagine like it though you have to find jobs for those people. So I just eat it it's coming in its is kind of like the robotic cars people so our hope that never happens it's happening. It is would you do with what is the social ramifications. Of that type of technology. Advances there shouldn't get any in this is not these nut jobs that are being outsourced these are jobs that are simply. Because automated because there's better technology and the fact is you can't terror your way out of this you can't tax your way out of it you have to figure out other alternatives. And that's that is it is the single biggest challenge we face the next twenty years and then if it's commute into what by the way. Dow at an all time high paying any worse and we seem to be setting records almost on a daily basis. 191100. No my gosh 191263. Is they handle that I half on the Dow Jones Industrial Average. He made a lot of news overnight I'm talking about the Citron did vote in Italy and an early surprising but he didn't. Think it's surprising how badly the referendum was defeated. You know that the the margin by which was defeated that was like 64. You know you it wasn't particularly close at all. And the prime minister of Italy the tail Ramsey is has now that he is indeed stepping down. After this which. You know personally I think it was a mistake for him to tie his own political career just this one thing it's not something that you typically like to see politicians do but he is gonna be stepping down. And it does raise some questions as to who wins coming into power in Italy going forward. And you know one of the big things that people have questions about than the Italian banks are not a good financials situation right now. Is this another step towards an eventual dissolution of the EU. Think for a I put a lot of people are asking why it is third largest economy in Europe or what people were asking its it and I don't know you know if that's the case necessarily Germans are gonna have the appetite to bail out the Italian bank bought is that the big probably time banks are failing. That the talks is that you may have a quote unquote bail in which comes from depositors at those banks as opposed to stunt that meat on the outside sources a bail and is supposed to bail out. Bail and is pretty much look if you have deposits at that bank you're going to be funding that bail out affecting it takes a mere deposit exactly. You got a hundred. Our up next we'll be joined by Josh Mitchell from the Wall Street Journal we're talking about student loan debt. Leads us to our poll question of the day though Tucker let's get our poll question out and then what did you. Yeah our poll question of the day which you can cast your vote right now at financial change showed dot com. Is a war any of your student loans forgiven yes or no and once again visit financial exchange showed dot com all right up next Josh Mitchell talking to us about a program. That's calling to forgive at least 100 neat billion dollars a student loan debt that's next from our insurer match dot com studios. Barry Armstrong. It's done George Daley team for a comprehensive look at business and financial news on the financial exchange radio network. 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Are you thinking about giving your home or vacation property to your children this is a common sentiment but can be full of problems for instance did you know that if you give your home your children you've also given them your cost basis and that property this can create huge capital gains tax problem if they ever choose to sell the home they can also create a nightmare scenario in the event that one of your adult children has creditor problems are goes through a divorce they the old adage is you can't take it with you and that inspires wealthy people to start giving assets away as gifts they give me a good strategy but the devil is in the details. Cushing in Dolan has written a brand new guide that explains gifting strategies call now to receive your free guide at 8668485699. Or you can download a copy on our website and legal exchange showed dot com just click on the guides and articles that you've worked a lifetime accumulating wealth Mel you should spend a few hours to make sure it stays in your family the right way call 8668485699. Or downloaded right now on the guides and articles page had legal exchange showed duck. Com hi everybody very Armstrong here from the financial exchange and I'm joined by. G-8 who whose senior vice president leader bank leader bank does a tremendous amount of mortgage loans as a matter of fact. I've used them a couple times to refinance properties in the past. Jake how's the mortgage does these days it's an extremely busy very. There are a lot of people buying homes. So that's kept the purchase market very very busy you know on top of that racers still at all time lows right so we've a lot of folks were refinancing their homes either to get a better rate or pull some cash out because of properties appreciate that is gonna ask you how does somebody know whether they should call to refinance. Well you know. There's really 22 ways if they feel that the rate can be improved. Give us a ring around and you know thirty year fixed raise her all time lows. If you have anything in the in the 4% range frankly give us a ring and who might be able to do something to or if you need to take some cash and of your property wondered for a college tuition for your kids aren't you guys have home equity lines of credit we have home equity lines of credit as well and the cool thing about that is. If you already had a great look raid on your first mortgage and get a home equity line of credit which will leave your first loan as it is allow you access the equity built up in your home makes an awful lot of sense and you've got fifteen year fixed rate mortgages five year adjustable rate mortgage all types inflame week we have all types of that in addition to that were actually very active Jumbo lenders so. And his properties are really appreciated in the markets in Massachusetts. There's been higher demand for Jumbo loans and we do a lot of that so last year Barry we're actually not the number two home purchase minor mass. It uses it for you congratulations. Folks at. 8776917. B 900. You can check out all their rates on line at leader bank dot com. Or you don't talk to human being you might call it loan officers standing by right now. 8776917900. That's all 38776917900. Security security ink. Today on the markets all day long. And our brand new website financial exchange Joseph Don gum could be fundamentally opposed I didn't follow the markets from pillar to post poll had financial exchange showed dot com. Headline reads US to. Forgive at least 108 billion dollars in student debt in coming years we're joined by the reporter on this story draw. Mitchell from the Wall Street Journal. I Josh or you. I order a very good thanks for joining us. Erica problem is it possible to get a handle on just how much student debt is gonna be forgiven in the coming years. That's very hard and actually the government. Keeps on re re estimating just what the cost are going to be over the years putting into it becomes increasingly apparent that definition that the governor is making profits substitute months. That that might not actually be indicate that we get won't know for another you know twenty or thirty years. At sounds like a lot of this forgiveness is occurring with income driven plans how to those working exactly. Yes to these plans have actually been and what it's for very long time the first on what passed by congress in the early ninety's but it's only in the past few years but people have been signing up to these plans and what they do is. You basically. Happier monthly payment as the about 10% of your discretionary income and there's a formula to determine that but. It's also based on your just aggressive and come so you know some of these students can lower their Asian guy by you know putting money in and 41 carrier RAM. Then once she take DH CIA used. He's subtract one and a half times the speed poverty level and then whatever is left over. You pay 10% of that amount. And after ten years after public sector worker he get the balance for giving tax Fareed. If your private sector work he get that balance forgiven in twenty or 25 years. So when you say public sector workers that would be thing like he is working for the district attorney's office but still teacher firefighter police officer. Any of those would be public sector jobs are. And often nonprofits and this is where it be it's becoming an issue indeed the idea was that if you're a lawyer and you do and you wanna be a public defender. The government will help you out because obviously not a remaining imagine that there are private law firm but a lot of these hospitals are non profits recently you're saying is these doctors. They come out of med school. They make very little for the first five or ten years because they're training to. And said they pay their bills runner income based repayment and then after ten years just when they start getting these jobs where they make a lot dictating to you they would their mind to get a huge amount forgiven. Tax free and doctors are some of the highest. Paid people you know in the country. It's the average balance that the that you know somebody who's gonna grad school like medical school horror. Law schools carrying on the student loans. Well and according to a report by the New America Foundation. Which as a think tank here. The median down for the average balance for doctors something. You know under 8000 our show 160000. That's pretty high. The average amount of those and these income driven plan according to the report from that came out last week of about 51000. And so that indicates even if from. Even if it's not you know just doctor heating Nestor a lot of people who went to grad school. Who are using these plans could most people who graduate. Do believe. I'm into you get a bachelor's degree day though only about 30000 dollars on average one mainly college so. If it does appear that a lot of people in these plans actually have high debt burdens and there's this misconception that yet people have high debt burdens or shortly domestic actually. People who have low debt burdens about 8000 dollars or defaulting on the loans and the reason is that people who default are. They went too bad schools and they dropped out and that so they don't that much but there that they don't have good jobs and they're not making payments. Just another couple colleges have talked to not serve any of them have implemented yet a couple of schools I know of talked about getting rid of the traditional to wish and that people pay today and moving just towards say we're gonna take 5% a year salary for the next 25 years or whatever instead. Has any school talked about doing that to grad school level in order to deal with us. I must say I've I have not heard data to grad school level. Now revered leader collected too much money with which grad school like seventy grand a year truck. What it is but you figure fee of doctors that are Milan you know 800000 dollars a year and you can get 10% of that for forty years I'd rather have that be too. Eight how much debt gets written off duty death or disability because not much you can do about that. Yes so again the projections from the report last week was that if you just look at to be. The group of loans that have been issued through this fiscal year it's going to be about 29 billion dollars in the long run. Which it is that big sum but it's not that big when you in the grand scheme of things. And they are actually a lot of people out there who. And who might be able to take advantage of these programs whether it be whether it's and having the debt written off because they're disabled. But they they just don't know how to do it they don't know that it contact and they just don't do that these firms exist so that that's also one of the issues here. Where do you expect Donald Trump to weigh in on this issue I think I saw something on the campaign trail where we he had a and he had of a theory or philosophy on this. Yet he said at one point. That he knew he likes the idea of income based repayment he thinks the government should help people who currently have student that silk. TE mentions. Plan. Allowing people. Pay twelve and a half percent of their income which would be a little bit more than life. The current plans offer but then he would forgive debt and fifteen years. Which would be assured that kind of what the current plan to offer so. He had endorsed the idea of income based repayment. But the other thing that he said in the past that he doesn't really think it's a good idea for the government in general to be making your lines and he's indicated that maybe. We should light down that's firm and to have the banks take take take it over. You know that's probably the smartest thing in the best way to deal with it rate let the private sector figured out they have a lot of less kids going to college but you'll you'll. Probably have a better quality student coming out because little to actually be underwritten. Yet there's a big trade off you know it's interesting no reason why the student I'm currently is split started with the idea that. He has very young people out there they don't have establish credit they don't have you know money saved up to go to college but yet you know it's good for the country to have. In theory it's good for the country to have people that account to get these skills and and they come out and that improves the skilled work force and appreciate cop on the overall. But is the argument for having more private sector involvement. Is he would you would have a game Morse hurt me ever what the return on investment as I've I've talked a lot of people who. They borrow. Tens of thousands of dollars for programs that just any anyone would look at and say you're not going to be able to pay these loans back Larry borrowing. 40000 dollars to become a full well bottom ST I wrote about that the next step that the job where you draw blood. And I talked with someone and you don't make a lot when he did that put up with someone who is 25000. Dollar and better so. Because he went to a certificate program and he can't find jobs. And it's a private banquet look at that and say no we're not going to be 25000 dollars is definitely you're going to be able to pay that back so. They're the trade off because then you know what would happen with people could do wanted to study things that that they would get a return on investment but a private lender you know just might not. It might not make a wonder that we actually have a front page story in the journal this morning about how. You know there are a lot of people who otherwise will be able to pay for home loans but they're just not being from me to credit standards and you know that has that her impact on the economy. Josh thank you very much for your time we appreciate it. You know it does make a loss as you'd think about even somebody. Chuck it's going to go for your school in their borrowing 100000 dollars to get a degree in philosophy and become social worker. Right now I mean a private lender would say to them loan denied it would not it would not get along you 100000 dollars to two to go to school to become a social. Ellie is exactly in it it's not because those aren't viable pursuits it's just because you can't make that much money in those jobs. And no one you you arrive if someone if if you're sunk Indians have a committee I wanna be a social worker let me 200000 dollars collagen you'd say. No break right media it is it just forces you to underwrite the the loans with better. Hey when we come back for a talk about. Some hidden jams within that jobs report from Friday that more from our insurer match dot com student. Making your Smartphone even smarter. Download no mobile lab by surging financial exchange joke in nineteen Jordan who. Good place stores this is the financial exchange rate. Network. If you're looking for a great deal on a new account or program issued check out the zoo where rewards program that leader bank is now offering its checking account along with the companion savings account and as long as you qualify you received three benefits first they get a savings rate of two point 05 annual percentage yield to your first 50000 dollars all of your ATM fees from you some other banks will be reimbursed and you get 1% cash back by using your debit card and visa credit purchases just sign up three statement with the account direct deposit at least 500 dollars a month and do eight debit transactions per month co leader bank right now at 8776917900. To learn more about this who rewards program that's 87769179008776917900. Member FDIC equal housing lender zero point 20 annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presumably awards learned zero point 10 annual percentage yield on savings balance. The past several years have seen some roller coaster moments for the economy and the markets and what sixteen was no different culminating with the election of Donald Trump as the 45 president advisors and investors are planning their strategies around his possible policy changes hi this is very Armstrong at the Armstrong advisory group we want to assure our clients and those who might need a fresh set of opinions on the future that we will be prepared to represent your best interest while preserving and maintaining your assets call us now for our free guide the 20s16. Year in review and 2017 forecast at 803934001. Or download it right now from our website financial exchange showed dot com the future is now so don't delay get our free guide 803934001803934001. Three suffered securities America incorporated members in SIPC and advisory service is offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or talk to buy always seek the advice of a tax professional familiar with the laws in your state. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of -- NC equal housing lender and -- number 449250. Subject to credit approval -- bank a step ahead are you thinking about giving your home or vacation property to your children this is a common sentiment but can be full of problems for instance did you know that if you give your home to your children you've also given them your cost basis and that property this can create huge capital gains tax problem if they ever choose to sell the home they can also create a nightmare scenario in the event that one of your adult children has -- problems for goes through divorce pay the old adage is you can't take it with you and that inspires wealthy people to start -- assets away as gifts that he made a good strategy but the devil is in the details -- in Dolan has -- a brand new guide that explains gifting strategies -- out to receive your free guide at 8668485699. Or you can download a copy on our website and legal exchange showed dot com. Just click on the guides and articles have your worked a lifetime accumulating wealth Mel you should spend a few hours to make sure it stays in your family the right way call 8668485699. Or downloaded right now on the guides and articles page had legal exchange showed dot com. Breaking business news daily only here. On the financial exchange radio network. Because he had done so already. Gortat right now vote for our poll question. Were any of your student loans forgiven you can cast your vote right now at financial exchange showed dot com announced after via Larry before. Oh good attribute those 603 raises a good point paid very why doesn't the school provide the financing. If they feel they're providing a valuable course that's a truck brought unity you know somebody wants to go to med school and there are. Great student. Amid school should off for the financing themselves if they don't I think you'll find a private lender will be more than happy to finance the education of an engineer a doctor or nurse and a nurse right if you look at the nursing shortage so. One thing to remember is that schools are not set up in a way typically to be able to finance those the vast majority of schools don't have the endowments do themselves meaning. They would have to borrow from someone else and then lend again which would actually make it more expensive for the student so. While your top schools probably could finance barrel courses in many schools can't just as they don't have multi billion dollar and now. I think you're gonna see it decline a massive decline. In the number of universities in the country they did colleges and universities the French ones track I think we're gonna have. Great difficulty continuing to charge. 5060000. Dollars a year for kid at school why don't think I don't know if you necessarily see decline in the number I think you may see somewhat of a decline there but not. I don't know for will be huge. I just think you'll see more strata vacation in terms cost me I think you'll see a number of schools that used to charge 5060000 a year charging twenty to thirty year mortgage seen. There have been a couple that or are lined schools aren't. I am still skeptical on line in the long and it's it's just not the same education and and I have I have a and on who's been education for entire life and she teaches online now. That she's retired and does I think maybe one or two on line courses a semester just to stay busy and do something. And she says it's just it's not the same because you don't have the ability. To actually get in front of kids mom and teach and in the same way that you what it's it's simply don't get the social side you don't have the same responsiveness you don't have the same since community. And I am very skeptical that online is the solution well. We're doing trivia today based on your knowledge of the big Mac now the big Mac has been around for my entire lifetime and I think I've probably had my share the big Macs. So our trivia question is in which year was the big Mac invented now I remember it was like it was yesterday. Our text number is 68680. In the weight trivia works for the month of December is the first listener with a crane tour correct answer. Wins a prize but the prize is a fifty dollar donation to whatever charity you want so your favorite charity. Will be the recipient of the fifty dollar donation in your name. All you have to do is be the first listener with the correct answer to this question in which year was the big Mac invented. Are tech's number is 686 AD so after we spent Friday looking through the jobs data. I went back and I looked at this 2554. Year old stat and it bothers me every month and I should I should just stop looking at. But 1960. Two point 7%. Of men were outside the labor force who were in between the years of 25. To 54 those are your prime earning years those of the years where. He's very few reasons not to be employed 25 because even if you're going to grad school for your you're out of grad school you go to law school you're at a law school time 26 years old. But 25 to 54 he used to be a two point 7%. Were out of the labor force. Now it's eleven point 5% in the light from the truck have a minute to figure this out I just need to stop looking. Well it it's a combination of factors and you you're never going to get back down to two point 7%. We never. What's let's talk about why the first is the proliferation of grad schools okay. Grad schools pull people out of the workforce every year that would typically be in the work force of a lot more people getting MBAs. Getting you know amazement at what whatever narrower than there were in 1960 votes not even close as this year number is and I can pull some data on it for you but. It's a significant uptick in the number post secondary educational cap. Second thing you have is you have Mormon that are staying home and raise families where maybe the wife is the breadwinner in the house or any of that happening now Qaeda. Third thing that you have is you do have more men on disability today this is gonna say do you remember we saw that stat it was within the last three months. Where you have a lot of men 2554. That are in pain medication and can't work because they're payment. You do but even that only accounts for about a quarter. OK so it is it's a piece and it's a big piece but it is by no means the only piece. That's actually there if we go and take a look at grad school students and onboard this up. In terms of the actual stats you know how do you I don't pay verses 1960 exactly and trying to get some numbers pulled up here just so that we can. He what we actually have this week. The number on women too by the way from fifteen years ago. 23. Point 2% of women were outside the work force today. It's 25 point 3% that's a lean a fifteen year period of time and I don't think there's been not much change. In grad schools from 2000 to 2000 there. Really his last fifteen ton of people during the recession went that went back to school and so you you simply seat. And yeah you've seen a big shift there in the last ten years or so as far as entrance polls and that sun. Over time tart I can't pull anything right now but I know there's been a big uptick there there's number different reasons and and none of them are necessarily. That just bothers people is likely knew your staff like that and EC east either. The proliferation of people being on disability. And and and whatnot. The people that are going to work every players and why they why is that segments a war. Well part of it. Is because there's more ways to abuse the system in a part of it also is because we're better at diagnosing things than we were 4050 years ago was well you know there are things that. Previously. We didn't know that they review problems and all of a sudden you realize hey wait this person can't work because of these disabilities that they have you know it's it's a combination of those two so I think that's definitely something that plays in. But there are a number of reasons why. You have less people in the workforce they parts also well you don't eat as many people to produce the same stuff. We have 20% of the farmers that we did a hundred years ago we've produced three times many crops we have 80% more farmers know could we grow wait too much food. I've talked to a lot about our friends at the insurer match agency they exist to make sure that your assets are protected and if you're like many of my listeners who will Holman. One or two cars. You're the perfect candidate for free consultation. With one of their agents to help you review their insurance needs. Called them today at 84499. Match that's it for 499 match and let them prepare a personalized plan. Lou that that would get the best coverage at the best price. They'll also dig out all the discounts that preferred customers like you can qualify for. Call insurer matched to compare multiple rates from all of the top carriers including our bella. Plymouth rock and more an 84499. Match city for four. 99 match insurer matches license for all types of insurance. And they can save you time stress in money won vocal one relationship that's all you need call today 844. 99 match or go online and insure a match dot com. So I've seen actually managed to grab some statistics in terms of the uptick. In number of people attending grad school or the last this this is 1967. And it has increased by about. 100%. See about a double and double the percentage of people. Go to grad schooled they that you did back in the sixty 27 to 54 that still leaves you with. A lot of people outside of the working force even taking out the grants tools to grad school well there's there's no doubt about it but again it's it's not any one factor. They there's a new man being mentioned as potentially our next secretary of state. And I told you in the past that I was. Those bullish on Mitt Romney and I know met I think he'd be good choice for secretary of state. How like this guy to Rex Tillerson CEO of ExxonMobil do you think this is real do you think. First all you think Rex Tillerson who probably makes twenty to fifty million bucks a year would take the pay cut to become secretary of state. I don't necessarily know I don't know enough about to say if this is something he bit he's been interested in for a long period of time could argue that he did at the job I don't think so no he has no diplomacy background true. True but maybe you know. He's he's got a relationship with the food and he's got a relationship with G. He's what he's dealt with world leaders around the goal. I just you want someone who had it like he's never been involved in negotiating treaties or he's never been involved. In trying to and go you know any type of resolve any military conflict ceasefires or if he's never been involved now. In those situations he might be agreed businessman. But that doesn't mean that he's good for this job which requires completely different skills so little peculiar that mr. trump hasn't decided on his secretary of state this far and he's had. Giuliani he said Romney corporate that you're that didn't list that John Bolton was interviewed for a in my favor for. Cork or Tennessee and core. Quarter in general has a lot of respect in the international community he is dealt with a lot of those situations. Through his roles in the senate. He's been on a number of committees and leadership roles and so forth I think he would be. Outstanding at Villa secretary of state position lot of names on the list though. We just one to eight now I think it is and and seemingly no closer he's growing to a finalist was originally three an hour up to eight now. Up next we'll be joined by Eric Jacobson from Morningstar will be talking about a mutual fund grab a pencil paper mutual fund talk is up next from our insurer match dot com's studio. Got Barry Armstrong and chuck John I talking about business financing your wallet well about how to give the green and it. He'd be here on the financial exchange radio network. The past several years have seen some roller coaster moments for the economy and the markets and 2016 was no different culminating with the election of Donald Trump as the 45 president advisors and investors are planning their strategies around his possible policy changes hi this is very Armstrong at the Armstrong advisory group we want to assure our clients and those who might need a fresh set of opinions on the future that we will be prepared to represent your best interest while preserving and maintaining your assets call us now for our free guide the 2016. Year in review and 2017 forecast at 803934001. Or download it right now from our website financial exchange showed dot com the future is now so don't delay get our free guide 8039340018039340. You're one securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and or companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a tax professional familiar with the laws in your state. Are you thinking about giving your home or vacation property to your children this is a common sentiment that can be full of problems for instance did you know that if you give your home to your children you've also given them your cost basis and that property this can create huge capital gains tax problem if they ever choose to sell the home they can also create a nightmare scenario in the event that one of your adult children has creditor problems are goes through a divorce pay the old adage is you can't take it with you and that inspires wealthy people to start giving assets away as gifts they can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies call now to receive your free guide at 8668485699. Or you can download a copy on our website and legal exchange showed dot com. Just click on the guides and articles that you've worked a lifetime accumulating wealth Mel you should spend a few hours to make sure it stays in your family the right way call 8668485699. Or downloaded right now on the guides and articles page had legal exchange showed duck. Com. This is very Armstrong and I'm joined by estate planning attorney potluck ski from the law from Cushing and dole and we're talking about gifting assets away taught what are the major advantages to transferring assets to. The re vote Coble trust as opposed to the child. And and quite frankly. A revote Coble trust or an irrevocable trust you get the same advantages okay well almost one protects it from the nursing home in 1000. That irrevocable provides nursing home protection the revolt global doesn't but by I think that the answer here is that might not. Putting an asset in the child's name vs putting an atrocity really what you're trying to distinguish. And by keeping the asset in your name or any revoke aboard irrevocable trust. You are the boss using controls you decide how long you wanna live in the property you decide if you wanna sell you decide if you wanna rent. You decide how to invest your money. For goodness sakes so it's still yours and in your control and it avoids probate. Reduces the state taxes and provides a nice blood line distribution to your children when you die. Giving it to the children out right now you'll lose all control. And all the tax benefits that go with using it re vulnerable or near vocal trust. And you expose it to their creditors just not a good idea. I would set up some kind of a trust even a gifting trust is better than gifting it to them in their own hands. Educate yourself about the implications. Of gifting your assets away request this brand new guide to gifting from Cushing and Dolan. At 8668485699. Or download a copy of the guide. At legal exchange showed dot com. 8668485699. The guide to gifting assets available 8668485699. Call now 8668485699. The markets are still well though. Get our weekly monthly recap about becoming a member of berries brigades visit financial exchange showed Judd come and sign up today. This segment of the financial exchanges brought you buying leader Boehner who. With leader banks of both rewards account. Get 1% cash back with debit purchases and an extra 10% cash back when you use their cards at featured businesses. To qualify for these and other rewards called leader bank at 8776917900. And the big Mac was invented by McDonald's franchisee Jim Della Gotti in 1967. Winner on this one was Russell from Har which Russell. We're going to be making a donation. Fifty dollars to meals on wheels. In the name of Russell. Finally don't forget about Armstrong advisory group's offer for a free portfolio review but AG help you pursue your financial goals call today told free. 80393. 4001. That's 800. 393. 4001. Instead of your appointment today. Armstrong advisory group and securities American companies are unaffiliated. We're joined now by Eric Jacobson here to do little bit of mutual fund talk on a mutual fund Monday in Aric thank you very much for joining us. Eric talking about the credential total return bond fund. What exactly is the mandate of this fund would they go about investing. So this is the kind of fun that you would look at sort of for the core portion. You work bond portfolio. Of explaining a minute why it's a little trickier than that but. You know it it's the kind of on that would compete for example with. That vanguard total bond market index anything that would be sort of core area. And looking at this fund they do anything different from some of the other off funds that they compete with. Yes so what distinguishes this on the most. Is that by virtue of being managed by prudential. Has sort of credit slavery and DNA. And as a result it took very heavily in terms of corporate bonds. And even sprinkles it with some syndicated bank loans and so forth so you'd normally find a lot of treasury bonds it and government agency backed mortgages in a quote we're ordeal like this. There are very few in this portfolio and it. Expect a lot more heavily in not only corporate bonds over but also. Two high quality access factories well. How much they do what an international basis. There isn't that much in a portal like this. In you know you're normally talking about. Under 2%. Its debt that's not really too much party you'll do occasionally get a little bit currency. The purple is like this try not to do too much that usually. In terms of you know looking at the expense is that someone pays here how much do why investors have to pay in order to own the fund. Well as you'd probably know there's a lot of different ways to get in the conflict does. And so he. It sort of depends on whether or not you're buying through financial advisor retirement plan and so forth. There's a little bit of a split here the institutional share classes that go through. Advisors and plan like batter a pretty reasonably placed. There are well below average. Some of the others that are above average and there's also some. Things are worth it. The headline prices were higher than what they're charged right now Connecticut we've Iran supports it unfortunately you can lift drilling of the conjecture cluster and abide by and large. They're not not the pretty good. I noticed fund has the the words total return in its name. But for investors looking for yield what what's this fund yielding right now. So again that it is the lecture class ten and it. You know we're not talking about big numbers certainly if you look over the last twelve months it would have been about two point 75%. You know again. That behind that name is just suggested total turn we try to encourage people to invest for that and not focus too much on the income because if you. If you really go looking for on that stacks up a lot on the income. They're very often reasons why that happens terms of taking on inordinate risks to. Bottom line is just be carefully weigh what that what is. The things that investors haven't really had to worry about in the last six to seven years of bond funds is. Rising interest rates we've finally seen rates start to go up on longer term bonds with a significant spike in the last month or so short term rate the Fed talking about bumping. In a couple weeks as well as heading into next year. How old how much exposure does this fund have to rising interest rates. So it's going to be very similar to. You know most other fund in this kind of category these court when we called in immediately bomb at home for them. You know it's a little tricky but right now if you look at the duration which is a measure rate sensitivity. It looks a little bit on alongside so well five point eight years that means that if you would go up. Exactly hopeful one percentage point rates. He didn't immediately. You'd expect to lose about five point 8% but because respond also have a lot of credit and corporate bonds and so forth he doesn't quite move in step toward that with a treasury market. And I would also say that now it rates have risen. Unless we have a very large surge in inflation really strong. Quick spike in rates. You know the more leveled out it's going to be more that this act the extra income produced by the cup and help smooth that out. Very good Eric thank you very much for joining us today. Eric Jacobson from Morningstar the fund is the prudential total return bond fund ticker on it is PD. BZ acts tough time to invest in fixed income as. It's probably a it's interesting it's a tough time to invest in fixed income but if you look at it from a pure rich perspective. You're better off investing in it today than you were a month ago. Young you are because we are higher or your time this ten year I've got it to 43 now a month ago it was probably what 65 bucks seventy now that's a big move the only people don't understand. And what you own it you don't understand how big a move that is you know think about if you bought that. If you bought a ten year treasury. At that price a bit and it with the yield of 169 a month ago. And it the yield now is 243 how much money they lost pulled it up right now actually the I'm just gonna get some stats on right now right now. Losses have been marked the that's what about you you've lost a lot of money. In an asset class that you thought was completely safe in your seeing people opening up their statements in December. So how did I how do I not make more money you want to fuel some blogs yep effectively if you owned bonds knows a kind of that ten to fifteen year range okay. You've lost about 7% or so business of the stock market's up right Steve yes you're stock portfolio has gone up in value. But you're the money you thought was really safely tucked away right the money said oh don't have to worry about that that's where. You know if if the market Tuesday. It has a correction. Then I have to worry about it well you do afterward because yields have gone to 243 or how much higher they can build unity unity you look at. Where they are now in the thirty year I think I saw trading over 3%. It it's hard to imagine that they're gonna go real high real facts. Know a lot of it depends on what you trade policies gonna look like the next couple years and what kind of like the economy get grown you know coming forward and seventeen and eighteen. Gold by the way is down seventeen dollars announced today. Just gotta push that out. Drugs ought to talk for Silva and very Armstrong broadcasting from our insurer match dot com studio. The past several years have seen some roller coaster moments for the economy and the markets and 2016 was no different culminating with the election of Donald Trump as the 45 president advisors and investors are planning their strategies around his possible policy changes hi this is very Armstrong at the Armstrong advisory group we want to assure our clients and those who might need a fresh set of opinions on the future that we will be prepared to represent your best interest while preserving and maintaining your assets call us now for our free guide the 2016. Year in review and 2017 forecast at 803934001. Or download it right now from our website financial exchange showed dot com the future is now so don't delay get our free guide 8039340018039340. 01 securities offered to securities America incorporated members in SIPC and advisory service is over the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a tax professional familiar with the laws in your. 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The holidays are coming and the new year is almost upon us so now is a perfect time to reset your schedule and its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for me was reviewing my insurance plans hi this is Jason wolf for the financial exchange radio network if you're like me and need to reset on your insurance policies I want to call the insurer matching agency one call provided me with multiple quotes from several of the top insurance carriers Taiwan up with a revised homeowner's policy and a brand new auto policy that included coverage of the third car from my older daughter because lord knows she doesn't wanna wait around to borrow mine Collins sure magic 844 or 99 match 6844. Or 99 match and through their Massachusetts division and charter let them researching present you with -- information that is bound to help you I saved over a thousand dollars a year or mining deal and I know they'll try to do the same free from. The law firm of Cushing and dole and we're talking about gifting because it's Christmas what happens Todd if you give your home to your child. And later on you decide you wanna sell back home. Yes this is another problem with gifting while it feels so Gooden especially this time of year it it it just such a loss of control. That that you don't think about you think your children would never hurt you but if you gave it to your children understand folks if you retained no interest in that property. Didn't pitch well in Dayton Dayton meet her you unintentionally. They heard audio business failure and bankruptcy car accident divorce. Some other legal proceeding that causes them to lose the house that you gave them that's right so. That Sony put it that way very not only did it hurt you because you don't have the house that you wanna live in the hurt the picture so what's. Helpful to expose what you're hoping to be their future inheritance. That there creditors any time sooner that you need to let's face it if my parents wanted to give me their house now I'd be like hold all. I don't need I don't want and let's put it in a trust let's do something more creative. So that they can still be yours and you can still control it. And protected for us which is what seemingly they wanna do anyway against the kids want it's what parents want. Educate yourself about the implications. Of gifting your assets away request this brand new guide to gifting from Cushing handle and at 8668485699. Or download a copy of the guide. At legal exchange showed dot com. The guide to gifting assets 8668485699. Or download a copy on legal exchange showed dot com called coal free. 8668485699. The guide to gifting assets 8668485699. 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Are you thinking about giving your home or vacation property to your children this is a common sentiment that can be full of problems for instance did you know that if you give your home to your children you've also given them your cost basis and that property this can create huge capital gains tax problem if they ever choose to sell the home they can also create a nightmare scenario in the event that one of your adult children has creditor problems are goes through a divorce paper the old adage is you can't take it with you and that inspires wealthy people to start giving assets away is yes it can be a good strategy but the devil is in the details. Cushing in Dolan is remembering a new guy that explains gifting strategies call now to receive your free guide at 8668485699. Or you can download a copy on our website and legal exchange showed dot com just click on the guides and articles that you've worked a lifetime accumulating wealth Mel you should spend a few hours to make sure it stays in your family the right way call 8668485699. Or download it right now on the guides and articles page had legal exchange showed dot com. Whether you're celebrating a milestone or diversify your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally that just makes sense of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured and insured by any federal government agency on guaranteed by the bank and may go down in value leader back a step ahead. The past several years have seen some roller coaster moments for the economy and the markets and what sixteen was no different culminating with the election of Donald Trump as the 45 president advisors and investors are planning their strategies around his possible policy changes hi this is very Armstrong at the Armstrong advisory group we want to assure our clients and those who might need a fresh set of opinions on the future that we will be prepared to represent your best interest while preserving and maintaining your assets call us now for our free guide the 2016. Year in review and 2017 forecast at 803934001. Or download it right now from our website financial exchange showed dot com the future is now so don't delay get our free guide 8039340018039340. You are one securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities market companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a tax professional familiar with the laws in your state. This is the financial exchange with Barry Armstrong and chuck Zahn. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up to. About economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. You know you look at the circumstances. Regarding the stock market you save yourself how long in the party continues. The Dow is up 95 points at 191265. Yes and he's out it's up sixteen points. And you've got the NASDAQ up more than sixty points that's a lot because it's more than 1%. Crude oil trading at almost 53 dollars a barrel the gains in crude oil continue and gold. Down fourteen dollars an ounce at 1160. Hi everybody very and truck with you here on a snowy Monday. Get used to it folks four more months or maybe figure four months you can you can we declare winter over on on April 6. No we get that storm a couple of years ago on what like eighth or ninth that thing and there's always like April fool's blizzard from back in the ninety's nests four months give or half a four and a half and and and will be through so and I hope you enjoy winter sports. He wanted to talk to you chuck about apple. And I skipped ahead a couple stories here. Steve Kenner. Is Apple's director of product integrity in he wrote a letter to the head of the national highway traffic safety minister industry. He offered no details on this project but he said. Apple is investing heavily. In the study. A machine learning and automation and is excited about the potential of automated systems in many areas. Including. Transportation so the robot application. Of America continues. Apple putting tremendous amount of resources on trying to read between the lines here. Because. I think it was probably two months ago. We hear apple. Basically said we're we're laying off a lot of the engineers were working on project titan which is the self driving car Miller they are getting into the carved up. Sounds like they backed away from getting into the car business but more texted in building the automation systems associated. With automobiles. Think it's it's what it sounds like which I find a little bit peculiar because that's not an area that's typically what you would think it was a high margin target for apple when you think of high margin problems okay. The things that are not easily can monetize and specifically now there's things that people have to touch and feel. And it with apple you have apple ecosystem that provides them. You know that high margin of area even though their products aren't anything special necessarily if all you're talking about is sensor and automation technology and so forth. Someone else to do that better than. You make. Oh yes and this is a risk on their part what it's it's just un usual Wear them when Apple's always focused on in the past has been. Creating products that they're not necessarily the best products because they are that apple has never had. The best products but they are unique they typically in they work they typically have worked very well even though they start to run in some issues there the get a little bloated recently. And they're very simple. When you talk about building like a back and automation solution that's something I think of. Apple do you know it's it's it's a little ones usual for the business will be you think about though there's 200 and is it 540000. Vehicles on the road is that Jordan is a million million yeah to 160 million and that's just in the United States which means that. There's almost one car for every human being in the United States including. Mine a three month old granddaughter right days so it is population of the country's 323 and thirty million people and their 260 million cars. And I think what Apple's saying chuck is. When you get in your vehicle whatever kind of vehicle it is. We want to be an apple driven. Vehicle and again how many iphones are in in the United States to me it's got to be an idea Levine let me guess I'm gonna say forty million. Iphones in the United States and its problem probably liked with my number. Iphones there are currently 63000063. Million. Iphones so 63 million iphones and 260. Million. Vehicles so more than one quarter of the cars could be powered by night. I just don't. Why do you need the apple system mean like what what does it do for that the other ones can't is it better at avoiding stuff because it is. I'll bite. If all it does it please be nice music bought crashes. That doesn't do a whole from all I think what they're getting into the autonomous car I mean they wanna be able to take it whether the four werder Toyota. Or ten year old books like. And turned it into an Tom's vehicle wouldn't care to anyone use that. They want the bold or maybe is not the full that they want something in that car. To be completely controlled by apple wouldn't imagine how much money. What I'm curious to see is if manufacturers so let's say if order GM hmm. Eventually give people an option hey what system do you want in your card do you want android do you want apple do you want whatever hassles developed. If you'd have to Google's working on the android version right. Well exactly I see these as being almost operating systems for cars and it is kind of the way that I see it go I just don't know what gets you in a car. That. Is better than anyone else they got a ages I don't quite understand why you would need to have in your car it's all about autonomy. Maybe in the the reason letter was written to admits that. Was apple along was cool and anybody else Delphi who mobile life. Three but all the companies that are working on this technology there's there are billions of dollars being sent. And there are all saying to Nixon. Will we can't rely on Michigan we can't rely on Connecticut Rhode islander New Hampshire. To come out with the rules governing economist cars all of these manufacturers are coming in truck and they're saying. You guys need to do you need to give us a framework. As to what the rules and regulations are going to be. Related to a town scores mean that's that's you know there's a lot of things can be left to the state level I don't think this is one of. Well known in it in my guess is what. What and it's is probably gonna have to do is something similar to what they did with drunk driving seat belts and things where they said look if you want to get full federal funding for your highways you have to adopt these set of standards and that's probably what you're going to end up seeing. The place where you have the biggest issue and this is talking from. Talking with people who are building the systems that deal that handle the self driving cars the single biggest issue was street signs no street signs and traffic lights because. Let's say that you go to. New York. You're traffic light to set up one way. You go to Philly to set up another way in the street signs all different depending on the different state you don't have. They uniforms sign for. They've roads and so forth here in Massachusetts to big white box and that's it here in New Hampshire to white box the group green thing. And a picture of the state on so it's a different sign that the vehicle has to learn how to deal with. And it was just a couple simple examples all of a sudden you get in what you get the weird situation in New York where forget the neighborhood. But it's Irish neighborhood in New York City where they have the traffic light reversed with green on top of his people kept throwing rocks at the red light because they wanna green on top of the Irish. So what if you get a situation like that in the car fixed a red light when it's really green like there's all kinds of weird crap like that that you have to get these cars deal but computers learn faster than cars and computers may use computers learn faster than human much and computers make many fewer mistakes yes that's Tesla released a video about two weeks ago won their cars doing. City driving for about half an hour and it was impressive. It was really impressive. Take a look at new economy they're gonna have cars on the city of Boston this month in December new economy as a company at Cambridge it's an MIT company. They've already got him on the roads in Singapore they will be on the roads in the city of Boston during the month of December. Woman you go when you take a look at what Hoover's doing down in Pittsburgh had movers running if they get they're getting up to a couple hundred. Vehicles down there in Pittsburgh. They've run in this for what about a month and a half two months now and I've heard of any problems. Hey electric cars we talked about that as well BMW weighing in but I wanted to just mark fields is the CEO of Ford. And many people are worried about the future of electric cars just because of the cost associated with them in 2008. There were twelve electric vehicles offered in the United States markets. And they represented 2.3 percent of the industry right twelve models 2.3 percent of the industry. Now. Fast forward 2016 there are 55 models so you don't leave. BMW Volkswagen's. Shabby all of these companies coming out with electric carts. There's now 55 models in you know what it's two point 8% of the marketplace. More models just dividing it pretty much the same size pie there and you big expense for. It is and and it continues to be I think that the big thing is. That a lot of the vehicles that are out there they still don't offer the performance and the price that people necessarily want or use to. I think you're going to get there the battery technology has been slow to develop we've talked with the help us you know we've we've talked with a couple folks that. Appear to be on the verge of some breakthroughs that would drive that cost down and make mileage. You know more significant. But to this point. There hasn't been anything we're still using the same lithium lithium ion batteries that we've been using since day one reason more. And their heavy in the new ones are good ten years away everything catch on fire I mean it's not good now. Donald Trump's promises will be hard to keep but the coal country has faith right talk to Cheryl geese Kohlberg. From the New York Times. About Donald Trump he made promises on the campaign trail. To revive the coal and I'm not sure he can do it Cheryl not either that's our next topic from our insurer match dot com studios. Is this news redefine. This is the financial exchange radio network. Are you thinking about giving your home or vacation property to your children this is a common sentiment but can be full of problems for instance did you know that if you give your home to your children you've also given them your cost basis and that property this can create huge capital gains tax problem if they ever choose to sell the home they can also create a nightmare scenario in the event that one of your adult children has -- problems -- goes through a divorce -- the old adage is you can't take it with you and that inspires wealthy people to start giving assets away as gifts that he made a good strategy but the devil is in the details -- in Dolan has written a brand new guide that explains gifting strategies -- out to receive your free guide at 8668485699. Or you can download a copy on our website -- legal exchange -- dot com just click on the guides and articles that -- worked a lifetime accumulating wealth -- you should spend a few hours to make sure it stays in your family the right way call 8668485699. Or downloaded right now on the guides and articles page had legal exchange showed dot com. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases in refinances all originations are managed by leader bank's local underwriting process and teams traditional information call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member of the -- equal housing -- -- -- is number 449250. Subject -- credit -- -- -- a step -- the holidays are coming and the new year is almost upon -- so now it's -- perfect time to reset your schedule and its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for -- he was reviewing my insurance -- hi this is Jason -- for the financial exchange radio network if you're like -- -- -- -- on your insurance policies -- -- to call the -- -- agency one call provided -- with multiple quotes from several of the top insurance carriers -- up with a -- homeowner's policy and a brand new -- policy that included coverage of the third car -- my older daughter because lord -- she doesn't want to wait around to borrow -- -- -- magic 844 -- 99 -- 6844. -- 99 match and through -- Massachusetts division and -- let -- research and present -- with -- information that is -- to help -- I saved over -- thousand dollars a year -- -- deal and I know they'll try to do the same for you call today -- 844 and 99 match that -- for 499 -- or visit them online and ensure -- match dot com. The past several years. Seen some roller coaster moments for the economy and the markets and 2016 was no different culminating with the election of Donald Trump as the 45 president advisors and investors are planning their strategies around his possible policy changes hi this is very Armstrong at the Armstrong advisory group we want to assure our clients and those who might need a fresh set of opinions on the future that we will be prepared to represent your best interest while preserving and maintaining your assets calls now for our free guide the 2016. Year in review and 2017 forecast at 803934001. Or download it right now from our website financial exchange showed dot com the future is now so don't delay get our free guide 8039340018039340. You are one securities offered to securities America incorporated members in SIPC and advisory service is offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a tax professional familiar with the laws in your state. These are daily poll question had financial exchange showed dot com. Vote your conscience there hard just vote go to financial exchange O Doug come and test away. It. All right we're back in we're talking about Donald Trump and his promises from coal country. On the campaign trail. He'd made a promise that it put our miners back to work and looking for the exact wording. Of it and I think that's going to be a tough putt a IE you know I looked I'd I did some research and I think it will lose. 800. Coal fired plants have closed in the United States since 2008. And me the if you guys if you've closed 800. Of them in the United States that was your big consumer. Of of coal that was being done at West Virginia. One and you look at what Cole has effectively become now cold if you go back. At 1215 years it was about fifty to 57% of our energy usage depending on what. Measures you're looking at today it's about 35% so you've seen a significant drop. And that's only get to 57 to 35 as a present it in the low fifties to 35 so it's it's been depending on in just there's a couple different place Rican pull stats from. But you're you're looking at a sizable reduction in the amount of cold that we use here and it's not because. Of increased regulation only. It's because market forces are dictated natural gas is cheaper just because we have so much of it. That you know really we can sell the utilities at a fraction of the cost well especially if you have more natural gas pipelines coming on line as well. Exactly so you know is an added the big or a like wouldn't we consume more natural gas pipeline. Pipelines were more readily available probably in the north east in general were the only place that's a big bottleneck but yes it more more pipelines would result in more usage and aren't we found Sheryl gay still work from the New York Times and she joins us now. So what do you think Cheryl welcomed the show. Do you think Donald Trump's been put the coal miners back to work. You know I think I'm qualified to tell you what people in coal country. Think about them at an expert on. I'm the economics of the coal industry but what I know is. The views of the voters in the people who live there and so I would say that those people. Feel a sense of hope and optimism. Much more sound now than they have in the cap. That they believe that Donald Trump can. But some of them back to work there clear I think about the challenges ahead. They're hopeful that having a businessman and the White House will create either. New cold job or jobs in other industries. And days are. They are feeling I think a renewed sense of optimism which is why they voted for him I think there are a lot of experts out there who will say. And Tuesday that he is gonna happen very very hard time putting. Out of work miners back to work in the coal industry. Yeah I would tend to agree how many jobs though were lost in the coal industry in West Virginia during the Obama administration. So darn near Obama administration. I was given a figure of roughly 121000. Jobs lost in West Virginia but let's not forget that clone would always stand. A movement. Industry and the clothes decline. Really began before President Obama. Took office but there's no question that under his policies. That job losses and accelerate it used to be gobbled let me just it is coupled. Whip but he the decline in the price of natural gas which is. Very important I think I'm sure they're experts have told you that. That the factors a round hole decliner on it. Yes certainly the ID. It big West Virginia used to be a largely democratic state wasn't. What Virginia. Like other states in the south. With a largely democratic state you know it in years past we used to have here in Washington we called blue dog Democrats moderate Democrats. And debt West Virginia certainly was a place where those Democrats. Florist you can remember I'm short senator Byrd who was. A long time Democrat West Virginia and others who were her I would stay. It characterized as. Socially. Conservative Democrat. Democrats back when Democrats kind of claims to be the party or the party of the working class. Why vote and you know we've seen what happened but. What about selling coal overseas is there is our market forward if can can we compete with some of the other countries in terms of could we sell our coal to Europe perhaps. Well like at that I'm not an expert in the in the coal business but we are ready. You know mind. Are selling coal to. Countries overseas. Germany and also I believe China and India but. I think experts say there's no ways that those sales can make up for the many thousands of lost jobs. The thing you have to keep in mind it. Utility plant. Have largely turned away from Kabul many of them that are now relying on natural gas right cheaper store but you'll. So a lot of these plans these coal fired utility plants in the United States that would shut. That loan. Are not gonna come back there ready been converted. So the market the domestic market. Has declined dramatically. And as to whether or not there's enough of the market overseas. You know I don't know. I think most people would say. The economy and a couple matches and the diverse but I in order for people to. Be able to stay there and earn a living wage and you know have the same standard of living that they had when they were making good money in the corporate. You raise some good points in your article Cheryl thank you very much time for joining us today. Sheryl gay Spielberg New York Times a I think it's a tough putt knee we have to do is try to get other industries does it we've gone from. Low fifties. To 35% of our electricity being powered by coal. In the last ten years imagine what it's going to be over the next twenty years. Or an M let's look at it in terms of the raw numbers also in not 2000. Okay and this is information according to. The US deal we can OK in Department of Energy in 2000. Coal power plant supplies at 1966. Terrell watt hours per year okay of energy. Last year and 2015 it was thirteen 56 so it's about a 30% decline in the amount of cold that we use that. During the same time natural gas went from producing 615. Terror watt hours the 1348. At more than double. And they're taken usage they're picking up the slack so works effectively we telling mrs. We have our transition team ever so gradually. From coal to natural gas to make our electricity Nat gas is that bridge fuel to the point where renewables are cost competitive if you look at renewable growth okay. Wind power back in 2000 was point 15%. Of our usage today it's four point 38% so a lot it's a sizeable uptick and it's growing every year right now. In about half a percent and what's bigger solar wind as he sees solar wind is far bigger wind is about eight times the scale solar in the US right now. The biggest renewable source we still have a hydropower Wynn's gonna pass that about three years term rates. Pratt and Whitney union members by the way have approved a five year contract today are getting a raise eroded down here in two and a half percent per year. Yet again raised here and and a little surprised they didn't weren't able to negotiate a little bit harder I mentioned last week the Pratt and Whitney. Has had some trouble with their engine deliveries and being able to get the month time in some cases. And I thought the workers might be able to get a little bit. A little bit more than what they did here but it will be two and a half percent wage increases for workers each year. It is actually boosting up some pension terms that might have been where they did some of the harder negotiating the Alley here here's what happened on the pension front the track after. Because this is buried in the details. In a win for management new workers hired after January 1 of Tony seventeen. Will be enrolled in defined contribution retirement plans not defined benefit pension plans that is a huge win for Pratt and web. And when we come back we'll talk to you about how you can get 88% more. From Social Security that in trivia. From our insurer match dot com studios. You gun barrier and strong financial exchange on the financial exchange radio network. It's not too late to get a great rate on hold mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollar offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams were additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and analyst number 449250. Subject to credit approval leader bank a step ahead. Hi everybody very are strong here from the financial exchange and I'm joined by. At leader bank. Jane what's new on the small business loan front SBA loans where they've been around for awhile but not everybody takes advantage of them and very few people know how they work. They bury yes we we to a lot of small business lending its leader bank. We're preferred SBA lender which really means we can maker decisions in house do you quickly within a couple weeks good. So we've been very active because a lot of small businesses have been growing in this economy so for example we have a special right now. Which is small business loans up to 50000 dollars were offering a fixed rate of three point 99%. Fixed for four years and no closing cost. It's been a very popular product but more importantly we're really helping small businesses who need it grow and expand their business. There's a lot of uses for the small business loans and give you a couple of examples we recently helped the restaurant in Cambridge that was. Doing so well they actually need to expand in the space next door. We help them local law firm. Who need a line of credit to help expand its business sure we helped a young local trucking company by a couple of new trucks because they're expanding it so there's a lot of different uses there's usually no limitations on and is longs for a good corporate use but it's 50000 dollar you pay it back over four years. Interest rate is three point 99%. Exactly. With no closing costs it's a pretty attractive program and is RO wait to Kenny work with the local community and build small business relationships. Very good folks at. SBA loans called them all free 8776917900. Three point 99% to pay it back over four years. 8776917. To 900 told Fareed. 8776917900. Or check them out online at leader bank dot com. Are you thinking about giving your home or vacation property to your children this is a common sentiment but can be full of problems for instance did you know that if you give your home to your children you've also given them your cost basis and that property this can create huge capital gains tax problem if they ever choose to sell the home they can also create a nightmare scenario in the event that one of your adult children has creditor problems are goes through divorce pay the old adage is you can't take it with you and that inspires wealthy people to start giving assets away as gifts that he made a good strategy but the devil is in the details. Cushing in Dolan has written a brand new guide that explains gifting strategies comb out to receive your free guide at 8668485699. Or you can download a copy on our website and legal exchange showed dot com. Just click on the guides and articles that you've worked a lifetime accumulating wealth Mel you should spend a few hours to make sure it stays in your family the right way call 8668485699. Or downloaded right now on the guides and articles page had legal exchange showed dot com. The past several years have seen some roller coaster moments for the economy and the markets and -- sixteen was no different culminating with the election of Donald Trump as the 45 president advisors and investors are planning their strategies around his possible policy changes hi this is very Armstrong at the Armstrong advisory group we want to assure our clients and those who might need a fresh set of opinions on the future that we will be prepared to represent your best interest while preserving and maintaining your assets call us now for our free guide the 2016. Year in review and 2017 forecast at 803934001. Or download it right now from our website financial exchange showed dot com the future is now so don't delay get our free guide 8039340018039340. 01 securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and our companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a tax professional familiar with the laws in your state. Follow the markets from start to finish and get our daily market recap every day at 5 PM on our new web site. Financial exchange showed dot com this is the financial exchange radio network. We're playing trivia as early it's too big Macs and I've had my share of big Macs. How many calories you're in name McDonald's big man you know the answer that question Texas the answer 68680. Is our text number first listener with the correct answer wins a fifty dollar donation. To their favorite charity believe the first winner was meals on wheels. You can't pick the winner we make the donation in your name. How many calories are in a McDonald's. Big Mac. And again tech's number six ED sixty. So the world wants to know how to get EV percent more from your Social Security check the answer is not necessarily what you. Thought it might have been well there's a couple different things that need to remember about Social Security checks are calculated the first is. That it's based partly on the length in which you've worked him it's also based on the amount that you earned during those years. Then it's based on when you actually claim your benefit. Now OK and really what you see. Is that in particular. If you are a low wage earned for much of your life and you end up with a couple years of higher earnings toward the back end. That can have an outsized impact as well as simply waiting an extra year in some situations. Adds some a little bit to your benefit as well so. The combination of either waiting and also. Picking up some additional high earning years can designate. An amount you pay check. With people forget is they might be 64 years old. And the forget the fact that they were out of work for a period of time or maybe they are homemaker. Give it my my wife is an example he worked. In the 1980s. And she worked until it was 1986. But and she was out of work truck while she was raised we have five kids rates if she stayed home and did not earn a salary paycheck from an employer. For the better part of nineteen years. Then after nineteen years she reenter the workforce so she had you know maybe five years of employment payment paying into Social Security hole quarters. But then in nineteen year gap in you don't have 35 years of regions that kills. You've got to get your in order to get a decent benefit at a Social Security. Understand. You must get 35 years in there. YouTube you'll get a benefit after thirty years and you'll get a benefit after 25 years or even even as littlest seniors. But if you really want robust retirement benefit from Social Security. Make sure you check Gatorade on the a on the statement. The center of the statements as you get older we go online and check and say OK do I have 35 years and they'll probably got 33 so I need to work at least two you might be 64. And you may be eligible for benefits but. Take a look at what it does but it working two more years the other thing that truck mentioned that's really important is. Consider working an extra year an extra two years because even if you have your 35 years and and you work 36 years and you wait that extra year that gives you an 8% bump in your benefit. It does and in particular. If you look at how much you receive if you started age seventy compared age 62. It's over 70% more 76%. Higher so. Just by waiting and again. You don't necessarily need to wait all the way to seventy because a lot of people say look I don't wanna wait that long ago I wanna retire and I'm sick worker but instead of doing 62 if you go to 65 or 66 it makes it a significantly higher payment they're talking. In a 30% higher. Try to just to anticipate where the money's going to be tight for. In retirement if if you got a robust retirement package and maybe got a pension and lots of money in your morality have to worry about or talking about it. But if you don't play that extra year to can make huge different. Hey you know you've heard me talk about zero liter bank's online rich collection product. For landlords it's a great service for landlords that allows them to collect tenant's rent payments electronically. Ads do you rent dot net. Without the need to collect checks most landlords that I know use local neighborhood banks to do their business and now leader bank is making this unique program available to those banks. So they can offer to you the customer if you're landlord in your interest in having your bank acquired as he ray technology. Tell them to calls he rent an 8776917900. That's 8776917. B 900 or visit Z rent dot net. Stop chasing down late payments and running to the bank to make your deposit so let's give you an example let's say you or. A customer of Middlesex savings bank or your customer of Needham Bank Rhode Island credit union. Tell that and you you wanna continue to do business. But tell them the calls he weren't so they can and roll that have your rent checks deposited directly into your Middlesex account. Calls they rent at 8776917900. That's 8776917. B 900. So Tucker you gave me this story that it under armour scores first Major League contract ever. With Major League Baseball deal with a guy I think it's pretty significant deal it's their first deal uniform deal with the professional sports team outside of college I believe chuck. So yeah and that they take over majestic which I believe was with a Major League Baseball for 35 years almighty spirit there uniform provider so art armor signing on with them will be a big deal now how do those deals worked EV do they have to you Haiti. Major League Baseball some kind of feed each year plus give them the free uniforms it really depends. On how would the individual sports structure them yeah okay. Typically it's that is how it ends up being structured as you pay for the right to have your logo on the news uniforms and then you receive all of the associated sales that go along with there and usually have to kick you know percentage a licensing fee back to either the teams or the the league depending on. Who which sets up as but yeah pretty much what what under armour is doing here is it is its advertising is that they are paying for advertising on the Jersey. Are you see. It was David Ortiz is a bad example because he's retired yeah. But who's another player for the rest he moves you back swear and under mergers and as I wanna get one of those who all of a sudden on farmers get a cut of that Jersey that they sell there so it's it's new way it is it's new products but it's all just advertising for the brand is well what armor under armour has done previously. In the professional leagues is they've had contracts with players and staff Korea's example in the MBAs and under armour guys who he wears under armour sneakers. But they haven't ever had. A fully guy believe. The NHL right now is Reebok's correct correct yeah. The NBA's Adidas I think this and a Nike everything Nike now I'll go check in a preacher is ninth in the NFL is. Who's the end of the NFL's Nike kind of rise while out after the NFL with Reebok for about ten years and so when they do Major League Baseball do they typically do all the minor league teams as well but they do is separate ownership rules so that the one of the big things that people often don't know good thing I can the pop socks right there though AAA team for the Red Sox do do will they be outfitted in under armour and so the paw Sox are kind of an interest in one because the Red Sox are one of the few teams that actually own some of their farm teams as well okay. Typically minor league teams they're not owned by the teams that they funnel players too they just have a development contract and that associate them with those teams. You know I wish I was wrong on my prediction about gold you know I I warn you. While ago about gold and it was up around 14100 dollars an ounce that's it you know you wanna be careful any of the problem as you get so many different opinions. On gold they eat you know what bothers me about gold though truck. Is if you're watching television you'll see something that looks like a newscast. In Ambien announcer coming on telling you need to buy gold in the new find out it's really commercial. You see it very often and the unfortunate thing is that most people. Don't understand the exact situation and whip it do you Wear gold actually make sense gold can be great as a hedge. If you are trying to potentially hedged and inflation or a Everest yeah economic situation things like that. Gold performs very very poorly when things do well. And so yes I am in a rising interest rate environment exactly so it is not the kind of thing you know. You can investment but yeah after reverend a it's not gonna be stable now be when the rest of the economy is doing well gold typically isn't okay. In C the other thing after buying actual physical gold. It's not as look what is your stocks are beacons pushed but it Saudi got to take it down and go in them and that haircut you take chuck is tremendous. Retro haircut on gold is usually around 3%. Sometimes higher yeah sometimes higher he when we come back will be joined by in terse. To read certain excuse me from the Wall Street Journal talking about landing a job. Leader in life will also have the answer to our trivia question that more coming up from our insurer match dot com studios. Your business team talking about your business needs this is the financial exchange radio network. The holidays are coming and the new year is almost upon us so now -- a perfect time to reset your schedule and its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for -- was reviewing my insurance -- hi this is Jason -- -- the financial exchange radio network if you're like -- need to reset on your insurance policies I want to call the -- -- agency one call provided me with multiple quotes from several of the top insurance carriers -- up with a revised homeowner's policy and a brand new auto policy that included coverage of a third car for my older daughter because lord -- she doesn't want to wait around to borrow -- -- -- magic 844 -- 99 match at 844 -- 99 match and through -- Massachusetts division and charter let -- -- present you with information that is bound to help -- I saved over -- thousand dollars a year -- -- -- deal and I know they'll try to do the same for you call today -- -- -- -- -- -- -- -- -- -- -- visit -- online -- -- -- -- dot -- It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and Milledge number 449250. Subjective credit approval leader bank a step ahead. Are you thinking about giving your home or vacation property to your children this is a common sentiment that can be full of problems for instance did you know that if you give your home to your children you've also given them your cost basis and that property this can create huge capital gains tax problem if they ever choose to sell the home they can also create a nightmare scenario in the event that one of your adult children has creditor problems are goes through a divorce -- the old adage is you can't take it with you and that inspires wealthy people to start giving assets away as gifts that he made a good strategy but the devil is in the details. Cushing in Dolan has written a brand new guy that explains gifting strategies Coleman out to receive your free guide at 8668485699. Or you can download a copy on our website at legal exchange showed dot com. Just click on the guides and articles have you worked a lifetime accumulating wealth now you should spend a few hours to make sure it stays in your family the right way call 8668485699. Or download it right now on the guides and articles page had legal exchange showed dot com. The past several years have seen a roller -- moments for the economy and the markets and what sixteen was no different culminating with the election of Donald Trump as the 45 president advisors and investors are planning their strategies around his possible policy changes Titus is very Armstrong at the Armstrong advisory group we want to assure our clients and those who might need a fresh set of opinions on the future that we will be prepared to represent your best interest while preserving and maintaining your assets call us now for our free guide the 2016. Year in review and 2017 forecast at 803934001. Or download it right now from our website financial exchange showed dot com the future is now so don't delay get our free guide 8039340018039340. 01 security suffered securities America incorporated members and SIPC and advisory service is offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a tax professional familiar with the laws in your state. Security security ink and PC. Or securities. To recruit and American companies. It includes. Larry chuck in the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network. I don't watch it feels guilty trucks at a McDonald's big Mac has 540. Dollars and actually makes me feel a little less guilty. That's a thought it would be. Winner on this question was Carol from Wilbur hand mass we're gonna donate fifty dollars to the American Heart Association. In Carroll's name. Don't forget about Armstrong advisory group's offer 483 portfolio review that AG OP pursue your financial goals cultivate told three. 80393. 4001. That's 80393. 4001. Instead of your appointment today Armstrong advisory group in the securities American companies unaffiliated. And targets and is a reporter for the Wall Street Journal true wrote an article that caught my attention five myths about landing a good job. Later in life she joins us now on the show I in a hurry you. I. What percentage of American workers are over the age fifty today as compared to saint 2002 just fourteen years ago. Yet a lot today 33% of the labor force is sixty or older and that's up from 25%. In 2000 Q. That's a lot that's a lot what are our workers over age 65. Were full time today vs twenty years ago so. You know your 68 year old doctor a lawyer still working. How does that number compared to twenty years ago. Yet that's not bad is also up significantly today more than 60% of workers 65 or older old fulltime job and that's an increase of 44%. In 1990. What do you attribute that. Is it because of need or. It well interestingly. There's Ike I think in large part it's because they into it what they're doing. The Bureau of Labor Statistics. Says that it only about 5% of part timers and a group be seeded they would prefer to work full time. Among the part time are so you know that indicates they did people in general are. Who hold these part time positions are not aspiring to work fulltime for economic means. What do what are you hearing among older workers at the able to find good jobs that they enjoy. You know it's interesting when I got a lot of feedback to this article and yes a lot of them are able to find good jobs that they in July a lot of them take its. Never been more challenged. And they are by their current jobs and they feel very invigorated by it and when you look at that macro economic data add to the big picture data. You know obviously from individual to individual. The experience and a very allot but it could group. The answer is that older workers are finding good jobs. What about taking a sabbatical let's say Europe burned out. Sixty year old engineer and you wanna take a year off. Can you take a year off and still have a reasonable expectation of finding a job after year being out of the workforce. Yeah I mean again and the answer is she asked actually an economist at that who is at Harvard. Has some a lot of research in this area and hurt research says that about 40% of people who retire. Do you take a break and then they return to work and that typically occurred within two years. Back to increase that 40% number an increase from about 20% labor or you did that in 1970. Phillips telling bit bit older workers' skills are in demand such that they can take a break and come back. Now to a greater and and they and they were able to do in the past that the penalty for doing Matt is not as great as what in the path. What was the employer prefer to deal if they're looking at a sixty year old doctor vs a forty year old doctor or sixty year old. General engineer accountant would they rather have the forty year old accountant. You know I it's. I think it's really variable I mean obviously TV and eating get company for cheaper younger. There might be a preference for that so when you look at. Get it there are a lot of industries up there and it are picking skills shortages and I think it for a lot of those industries. Older workers retaining their. Older workers or encouraging older workers to retire to come back a contract because his. Has become an important factor and when you look at productivity data. Eat you can see. In general there's really no relationship between agent productivity and I think that more players are starting to appreciate that. And in fact when it comes to productivity. There are studies that show that comic but more complicated good job. That quote the greater extent to which older workers actually have a performance. You know the year. Yet no idea I get that it what would about the issue of health insurance rate if you're. If you're firing a sixty year old worker that's six year old workers got a lot more help. History typically then young healthy forty year old worker. Yet that I and that can be educated and older. And and company and I'll outed deny health insurance and older workers said that you know. That that is definitely. An obstacle to implement at older ages. Now now. Well gee I guess you don't start your own company or. Exactly and more and more people arguing that. About a quarter of the entrepreneurship on businesses last year where between need to take the side. And 64. Which is issued increase in 1996 at age group with only 15% in entrepreneurs. Very good well thank you for joining us and appreciate your time. And targets and Wall Street Journal you know with with a four point what are we four point 6%. Unemployment rate yeah yeah. Four point 6% unemployment rate if you would job he knew and that was the year. Seventy or thirty. We talked to ever ever week we have someone come in on Wednesday that we talked via have week. Ever talk to anyone who is hiring right now it's true it would. Every scene and we're talking across industries were talking construction were talking restaurants were talking tax services and the thing about it. Let's talk about construction that is where a lot of the jobs yeah. You're seven years old. You know can be climbing the scaffolding in swing and hammered forty hours we know that the physical aspect that jobs would be pretty tough. Open and that's something look at the very reality of that job means that you can't do two hours and India have to have another skill you wanna work past mid fifties in a lot of cases. You know it could be if you've been on the job for awhile and you know how the business works you can go into a back office roll with the construction company can certainly help out on that front but. You know that purchasing your work you know you're not going to be OB pipe fitter until they're 75. Those guys are beat up he talked to guys that are in the trades that are doing the physical job many of them trapped by the time they're 55 their bodies are breaking down Alia. He needs don't have the wearable yet. Rich colleges endowments are hard targeted by trump backer in the US house. What they're going after here is you look at schools like Harvard Dartmouth. Tufts university and Yale in these huge endowments. But the money doesn't really seem to trickle down to help out people with tuition bills well. If you look at Dartmouth where you went to school your your folks paid a quarter million bucks either school. And Dartmouth endowment could pay part of. It could have the white what you need to mandate now. You know it's of her from my perspective these are private. Universities they have these endowments and they can set up and do with them as they pleased. You know that they're people who say no these you know they should be required in order to make tuition more for morneau makes you go to the school. No what no one may well I don't matter so and they have problems with the donors they started doing what. You have problems of the donut but also okay now you've mandating that they spend this money what if what if they don't need to you know lake it's. The the answer is not more. Regulation of endowment and you solve the conditions that lead to them and you'll get people spending more now you give money to your school. I did until this year because I felt they were. Going in a direction that I did not like so I cut my donation by 99%. 99%. That a lot of but people are getting frustrated with the way the money's being spent to you you'd donate a thousand bucks and then you see them spending on what you might perceive to be frivolous. And that's why I felt that's that's a lot of people. Why a lot of people are pulling back. On their college donations. They ought to thank you for tuning in this hour of the financial exchanges trucks not a talker so what. And Barry Armstrong from our insurer match dot com Steve.