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Full Show 6-28-17

Jun 28, 2017|

Full Show 6-28-17 by The Financial Exchange

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This is the financial exchange with the Barry Armstrong in chunks of your exclusive look at business and financial news affecting your day you'll soon be your world. Stay informed and up today about economic and market trends plus give breaking business news every day. And now the financial exchange with the Barry Armstrong and chunks. Bear with me is I danced in the libertarians. Delight it's here's the headline from the Wall Street Journal now other new stories might. Be higher in the priority list but to need a libertarian I love this one. Seattle's minimum wage rise may have pushed down workers' hours studies find. Hi everybody it's very shocked and this story was the first 1 I pulled this morning chuck when news. Perusing the Wall Street Journal. Oops it yet this was a study done by the city of Seattle so it's not coming from you know partisan think tank or anything like that also the same City Council. Bad enacted minimum exactly and what they found. Is that the step up that they have taken to this point going from 947 and Howard to eleven dollars an hour and 2015. And then another bomb to thirteen dollars an hour last year what they found. Is that it resulted in a 9% reduction in hours for low wage jobs. While only raising wages by about 3% so when you combine those numbers it had been net affect of reducing income for people in these minimum wage jobs. By 125 dollars a month. Do you think you do you think anybody's paying attention that they are the idea is did this to say I called the Bernie bill. Right it this is Bernie was all over fifteen dollars an hour. I do you think that you or go to the Seattle likely take some action as a result of this the reason being this was study that was done by the city of if it. OK so. They they put this out they said look you know that this is that the net result. And maybe we were right actually appalled and for saying that they wrong if you it's so rare to see that from. Either city state or federal government won't where's your rare that you see some would admit hey maybe we roll where there. Hearing it from shock of their business owners you know you've got business owners in Seattle were saying hey. We're getting killed you've also did the the reason payroll numbers are down overall payrolls in the city of Seattle down because of the be they don't minimum wage you know businesses are leaving the city now what. Is interesting here is there was another study that was done on Seattle. By the University of California okay. And that found pretty much an opposite conclusions and how we have two that are kind of on opposite sides here what it really tells you. They they they need to look at this a little bit more yet I see the city of Seattle in my estimation is more credible source because. They had a vested interest in making sure the numbers were in their favor. They they did but again they're they're different ways to interpret the same pieces of data but it was easy receives all the time this is why. When you talk about you know how you actually go about the scientific method. Peer review is one of the most important things because there's different ways that you can go about looking at data set up. And it's about figured out hey which is the right weight actually look at this who's actually taking the right approach we now have two different. Options here and hopefully you start to get people were viewing and say. Hey California you can do this right so maybe should take a look at this oh this this thing in the Seattle peace. Doesn't quite make cents and then you can actually come to a consensus in the conclusion. Our poll question today is do you think there should be a minimum wage I do not I voted I said no way I don't think the government should have. Any place in determining wages I don't think they should have any right place and determining. What do restaurant charges for Mueller what do homeowners alive so's house for what General Motors allowed to sell a car for. And it sounds an American but just the way I feel. Pending home sales tumble in aid for the for a third straight month now this numbered just came out with nine minutes ago. It is expected in the expectation was that pending home sales would have been up 1% since the big disappointment. It is and vivid sources effectively cite the fact that we continue to have record low inventories right now and that is is one of the biggest things. That is keeping the overall number of homes being sold from reaching the levels. That we'd like to see an ending you know when we talk about the housing market. I would be concerned if you saw sales sliding and sales prices slide the fact and we talked about this yesterday in Massachusetts homes up nine point 2% year over year in Rhode Island up four point 6% in terms of prices rights of the fact that you're seeing sales sliding. While prices are not suggest there's still some room to run. But it does raise some questions tea at a certain point. Does this mark you get to be broken enough that just doesn't work and that's something that we need you keep our eyes. With the biggest declines are coming in the lower end market like if you look at homes wonders 100000 dollars. They're sales were down seven point 2% from last year. Hundred to 250000. We're down 2% so it's the the entry level market is the market frankly that your peers want to answer the start of homes there there's there's a short have been very now here's something that should. It make you feel good if you're my age and you have more expensive home. In higher price brackets sales expanded incrementally. All the way up to a massive increase of 26%. For homes priced. Between 750000. And a million dollars and even more for those. Of a million dollars and more those home sales were up 29% so what's happened jockeys. Over the last 45 years the lower end houses have been selling right. And dal people are buying in gravitating to those higher in markets. So I don't know if it's an I don't know if I take the same thing from that in itself is a great example actually people looking at the same city damion getting different conclusions my conclusion would be. Because there's been so much demand that the lower and yup it's simply is pushed prices up into a higher bracket. Still good for the whole of the owner of the marks for the homeless and good for the owner but I feel it's so emblematic of and so symbolic of look. You have this huge divide its appearing in the country right now where you have these haves and have nots where if you are homeowner. You are doing absolutely phenomenally if you or not a homeowner. Your phone behind right. Decayed into just suggested there's nothing coming on the horizon. To really slow data put a stop to now well anyway housing go to those of the housing numbers existing home sales. Are forecast. To be five point 63 million this year what will sell for brand new homes this year. In terms of brand new new concerns weren't on the pace of around 600000 somewhere and that's so mark. 12% of the exit of total drop. I guess I would be about 10% of total home sales and parent yeah you'd like ideally to see that number get up into the twelve to 15% range that's what you'd like to see and healthy market. We're still not seeing the levels of construction that we'd like to see we know were running about twenty to 25% below. Where we want to be as far as new construction. And part of it. It's look. It's it's very difficult to build those low and homes right now are those the quickest to build all so it's a lot easier and quicker and to build. A two bedroom two bath home and sell them to build. Four bed three bath you know it does not as much work in the smaller hole. Now health care bill well it's I'll tell you what this making the nursing home operators nervous I I I talked to a fellow. That is in this business he he works in the health care businesses and providing nursing homes are GeMS. I talked to him in the last 24 hours because the the trump care does a lot of damage to that industry. And yeah two of them said hall and we're gonna we're gonna have to get out of this business we're gonna convert it it bills. The right now the attitude on the part of nursing homeowners'. We're have to stop taking in patients there did you know there's one point four million people living in nursing homes that I thought would be higher. One point four million products that country number. That's cost the country and 60% of the cost of nursing homes it is borne by Medicaid. Yeah on Medicaid as as we know is going to be an area. Where the federal government if you were to go with the senate plan has committed over the next seven years cutting their spending from 90% of the need for Medicaid and 57%. So it's a huge putt. In Medicaid and what people. Kind of what will people don't often think about moon. Medicaid's biggest expense is not in shoring. The 25 year old who doesn't have a whole lot of money right it is paying for nursing home care for the 657585. While I think it's a lot older than that. If you if you knew if you walk through nursing home track you're not gonna see 65 year olds and you're gonna see oh you do Dominic you'll see somebody the dominate it's not it's it's it's eighty's and ninety's where you typically see what the note the median age. That day I don't know but I'd be curious what that is and in this is something that keep in mind if those funds are not replaced. Those people as of right now. Do not. Get that care they simply would not be able to so the question becomes what do states have to do to states have to raise taxes because a number of states commands of look. If this goes through. We are in no way prepared to be able. To deal with debt burden on our own without. Raising taxes. Up next will be joined by Kelli Grant from CNBC we're going to be talking about how parents. Are causing fights among adult children about money how does that happen well you'll learn in our next segment from our insurer match dot com studios. Does that trump agenda stalled. Variant showed him the latest every day beginning at ten only on the financial exchange radio network. If you Google asset protection -- you'll get more than six million results how're you supposed to make sensible all that information hi this is very Armstrong and the answer is you shouldn't what you need to do was call Cushing handle the experts and elder law they Britain a brand new guide to -- -- misconceptions about Medicaid irrevocable trust this -- details thirty of the most common misconceptions about using irrevocable trust to protect your assets get your free guide by calling 8668485699. Big you have to ask permission from your kids to use your own money not a chance that you're gonna have to pay higher taxes if you wanna make your assets unavailable for nursing home costs absolutely not there are a lot of so called experts out there but take my work for and get some information from a law firm that has been helping families just like yours for nearly thirty years call for your free guide today 8668485699. That's 8668485699. You can also download it right now on our website legal exchange showed dot com that's legal exchange show dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers link you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth Rock in more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 of 99 match or go online and insure a match dot com. Barry are strong here and I'm joined by Jake to lose it vice president and leader bank and were talking about the housing market the housing market as you know. In short of supply. Long on demand. And Jake for first time homebuyers with what is your message to the young couple hours just somebody's out there looking to purchase their first time home. Yes so you know for first time homebuyers would we are telling them are a couple things one be patient. You know we we see a lot of first time homebuyers who are making five and fifteen offers before fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more than other half you pay more than the asking price and a yeah it is quite common right now in and in some cases are actually having to to research other towns and rooted in. Considered first because. You know Eric I can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to Tulsa but this leaders thirty yes that we are really excited about this product we just launched its cult leader thirty. And essentially what it is is fixed rate loan. Where if you sign up to pay your mortgage automatically electronically and everybody does for the first year you get to lower your interest repayments by one person. That's very helpful offer because what it does is gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses that you still have the security fixed rate mortgage. When I bot. A hole. And when I've refinance my properties have always used leader bank near terrific bank you can call them people free at 8776917. B 900 or visit them online leader bank. Dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America ain't member of finreg SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. I'm stronger. Bringing you the best in business and financial news every day this is the financial exchange radio network. In my business side periodically see adult siblings fighting over money. Joining us now from CNBC is Kelli Grant talking about sibling fights over cash by telling our U. I'm doing well we're excited about that might be well how common is it I mean I see it. Maybe not very often but I have seen some real doozies where you've got siblings that haven't talked to each other in years because of money. It's very carried on in the recent new data out from an air right think a lot of these sites are are not back com. But you know from what I hear about this from estate planners in particular hand this that this stuff that causes with that last decade may be. Well but let's talk about some of the causes you know what is it that mom and dad are doing. That are causing their children to fight with each other irreparable. So in this data that we were looking. America has parents were at the center of the conflict about two thirds of the time in the Big Three issues there are about how parents provide financial support to their adult kid. How they divide inheritance after they passed away. And any difference is that the kids they're providing in terms of financial support for anything period he got those care giving duties that can get pretty expensive yup. Well let's talk with about the first went in equal treatment so what you're referring to various. You've got a new hairdo well child or child is just struggling financially. And the remaining siblings. Resent the fact that you're paying that kids rent for them or help them with their car payment or pay tuition bills that are here for two. Don't and to be the big ones but it if you had siblings you know and it you know it can be even something smaller than kids are really attuned to what they perceive as an unequal or unfair treatment from a pair in. It it might not actually be that but if there's at least that perception bit. You know my brother got something that I didn't and they're gonna remember that. It doesn't take her when they're seven years so it didn't matter whether they're seven years older 47 years old those. Exactly and at 47 they might still be remembering answer to tally in flight at age seven. Now and then on distribution you're referring to. You know one child gets more money on from the will of the trust then the other children does that leave it. Factly and we see trend that that increasing its about a third. Kerry and I give their children unequal mountain and there can be a lot of a legitimate reasons that they might do that sometimes there equalizing that support that. They gave it life is the one kid got more than other. Sometimes they're legitimate reasons like you've got you know a child with special needs or something else where you are trying to or. They think it's fair but the kids being perceived as such. You're I've seen it a lot Kelly is with real state the parents will say war on and give this one little house on Cape Cod to. My son because he was such a good boy and he helped me cut the wall on in but it turns out that house might have been worth a million bucks. And any other way the other Ayers feel jilted because they didn't get to participate. The family business. Is another one where that comment to beat him maybe you've got one child who is Q you're very interested in that business we have concerns are not selling model. I'm like you're absolutely right it's it's that perception. From the rest of the siblings about you know what that actually mean. And then did another area that you point out Kelly is that. You know a lot of times we're we're talking about you know the parents spoiling the kids are giving money to kids but. I dealing with a case right now where the kids are having to chip in to pay for the care of the parents and some of the kids don't have the money. Exactly this is something that you we talk about the a lot of creating secure giving plan and it's better to have something like this and placed the before you actually need to use it but having that understanding has. The who's gonna try to contribute what if appearing needs help with that understanding and it got other bills go. You're you're trying to help you know maybe reach your own kids or put them through college where you live far away and you can't necessarily afford to like cross country as if every time that that's necessary. That can really be something that the hurts for the siblings to think about talk about. Now the capsule can absolutely get well Kelli thanks for your time we appreciate it. Bank telegram from CNBC talking about sibling fights and you know it's you'd have to worry about chuck if you're an only child that it's it is. A very well you you work in the same business idea I mean you see it if you see kids just like Norman you. You see families that you ever won in the family says look we we were strong family we got along well and then all of a sudden you end up with money involved and it turns into. I think we're your siblings are talking and you've got lawyers involved and it's it's not pretty for anyone I want to circle back god quickly just to the talk we're having about Medicaid complete war on the last break and an interesting statistic when you look at the number of people that are on Medicaid or any other kind of assistance providing them health care okay. They're 56 million people in the country okay the lot on the embargo by the weight kids their children of poor people it's it's fascinating action there about 43%. Of people veteran role our children yeah okay. What's interesting is out of that 56 million or about 800000. Actually. Or in the nursing homes okay so would only equates to about one and a quarter maybe one and a half percent of all people on Medicaid. Those won the quarter to one half percent of people equate for 25%. Of Medicaid spending and that's gonna be a big cut item. That that's going to be an enormous budget cut I just remember that that trend that demographic it's only going to get worse as we continue to age it's getting much much like well you know benefits from its long term care insurance companies. Does it evolves they do like I guess they do polish or they think those are tough products for most people to work. Not only to afford to qualify for I can't qualify yeah long term care insurance because I've got a bad back up there if they wrote off for the stuff that doesn't kill you but just makes you. Live for a long time but in poor health. Us how to make sense right if you have a bad. Your leader years are going to be in mobile where I'm I'm lucky I'm dealing with that now on a face it and say gee you know my last ten years probably are gonna be so hot. Don't think anyone's last in the first 57 you have decorate that you know I know ever since this Angie my last ten years for the best in my life overdose. But if you lose your mobility. That is really be a TV you talk about losing your mobility Turkey talked about in terms of driving car tried losing your mobility in terms of not a how are getting out of I can't even get at a bad happened happened morning's these days. That. Yet the other day usage it do you still think the health care bill passed that I read this point nine senators do outpost I do so. They're gonna give some goodies sweeten the pot. Get the deal done that's and that's what I think happens I still think it's not a bill worth passing but I think he gets on wire the health insurance companies suffering more because. The date they lose the delta health insurance companies like about I think about local company like it right. Wouldn't they be damaged. As a result of a trump here so the thought of their stocks none of them thought is because the the plans from both the house and the senate would allow states to get rid of the pre existing conditions mandate. They would be able to shed a lot of the patients they don't want and it's become more profitable. Economics that's what you will in time for trivia folks Canadian independent state takes place this week it's actually a July 1. We will be asking trivia questions about our neighbors to the north. Canada is a bi lingual country. But what is the only official bilingual. Province this is top one it's not leave that. 68680. Is our text number first listener with the correct answer wins a 25 dollar gas card. Canada is a bilingual. Country but what is the only official bilingual. Province and again the text number here in the studio. Is 68680. Which I read into this story about Iran boosting their oil production. I think it's it's fair to say that's. Oil prices down in the low to mid forties probably are here for the foreseeable future boring. You know obviously some kind of one off unexpected development does this make them go lower though. I don't think so necessarily just because I think that you have. A relatively decent balance right now still were expecting a little bit of a draw down in the US stockpiles today. But it two million barrel draw down as what's expected here so it seems like we're starting to find a little bit of balance and that's what oil. There's is in this mid forty range still. But we will see Ari. We'll have the answer to our trivia question when we return for march or match dot com studio. Making your Smartphone even smaller here though Motorola mobile labs like search and financial exchange killed in nineteen Jordan who. Place door. This is the financial Lidstrom radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks ticked hassle out of Iran today we're zero and leader banks all my recollection tool he went automatically deducts tenant's rent and deposited into your account visit WWW dungy rent dot net to learn more would you rent your payments for each unit to receive regularly on the same day every moment tenants pay nothing in the first six months or free for all landlords visit WWW Doug G Rendell are meant to learn more or call 7816418691. Hi this is very Armstrong and like Q I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older annuities may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth. About annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. Dirty suffered through securities America incorporated member funeral SIPC and advisory services are for for securities America advisors incorporated Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated guarantees are based on the claims paying ability of the insurer as we get older the state claiming becomes that much more important and if you have loved ones or friends that may need nursing home care you need to protect yourself and your assets the best way to do this this through trust. But don't listen to the fibs about having to give away all of your assets or control over your trust for the best on which is you may have to ask permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away you can stay in control and you never need to ask for permission to use your own money Cushing in dole then the experts and older La have written a brand new guide top misconceptions about Medicaid or rev a couple trusts. This guy details thirtieth the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. Or you can download it right now on our website at legal exchange showed dot com legal exchange showed dot com that website again it is illegal exchange showed dot com. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that 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 pastor closing -- lead 776917900. That's 8776917900. Or visit leader bank dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer mention agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's pay 4499. Match many of our listeners don't know home then one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry like our bella Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Call today 84499. Match or go online and ensure a match dot com. If you're real estate or property management company -- -- -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real stake clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose the leader bank as their banking partner call 8776917900. Or email BBO at leader -- dot com for more information member FDIC equal housing lender. For Wall Street watch a look at the market's performance so far today until Berrian jog right here on the financial exchange radio network. Embargoes weighed down yesterday 98 points that we recovered all those losses the Dow is up a 119 points. That was a 119 points the NASDAQ is still trailing a little bits of tech is not made up all the losses really the big winners today materials up a little over 1%. Consumer discretionary up pretty close well financials rally pretty strongly on news coming out of the EU. That they are going to continue with some easier monetary policy over the foreseeable future bout time. We also got to gasoline inventories are down 894000. We did on pulling up the the final numbers from the CIA right now adjusts the what what all the little details tell us a 194000. Barrels at that some of the let's take a look so it doesn't mean oil well interestingly enough the US domestic production up another twenty barrels a day air 20000 barrels a day now at nine point 35 million barrels per day right now. Crude oil surplus a little bit of a draw down there by a couple million barrels so all in all. You know you take a look at the numbers here production continues to rise in the US albeit slowly right now. Little bit of a drawn out so I think we're a pretty decent balance at the moment but if that US production continues to come back on line. You you could get a little bit out of whack towards the end of the year US production right now up 700000. Barrels a day from a year ago. That's good. The only official bilingual. Province in Canada is New Brunswick. And Quebec and guess that well and come back is the only all French province. Oh they're all friends and realize they're obnoxious and is tricky as you are in the it probably. 2030%. Of the backers are obnoxious about it like they'll speak English. And if they know you don't speak French down the torture. Maybe they'll pretend like you know speaking I was those girls now wanted to talk to me now Matt but it's possible that the winner on this trivia question it was a war from West Roxbury lower takes on the 25 dollar gas card to mobile. And our trivia contest is brought to you by the law firm of Cushing and dole and the experts in elder law if you have questions about your existing state plan. Or need advice on creating a trust to protect your assets from probate. Visit Cushing and old today at legal exchange show dot com that's legal exchange show dot com. The cost of housing has gotten so expensive in Washington DC that representative Jason Chapman to the Republican from Utah. Think that a monthly subsidy of 2500. Dollars would help ease the burden. For members of congress all while T yet throw rocks for an outright attack on Europe's hopes those members of congress just can't get by in their salary it's about three times as much as the average American 174000. Dollars a year now look I get that you have to maintain two places. You don't have to maintain you know how romance and get yourself a little studio in the city. Then you come back home on the weekends it'll work out now they sorry Jason me. Because their transportation is all paid for. Transportation's opening event where they get your PC channels are covered there meals all that's taking care about I mean look again I get that you have to spend some money there. But seriously as studio apartment you don't have to live right down next the capitol are anything find something you know out across the river you know pay 15100 bucks a month for you know six months of the year that yeah actually work. And called a guy. United. Will freeze pension plans for 70000. Nonunion employees seeking to contain the burden of her retirement fund. With a nearly ten billion dollar deficit see this is what folks. This is what occurs in the dreaded private sector when you have the problem with your finances you figure out a way to deal with them. UPS saying we can't afford defined benefit pension plans for our employees and we're gonna do away with. That was defined benefit plans yet it in this continues a trend that we have seen. As recently as when he fourteen is the last data that we have. 37% of fortune 500 companies with these pension plans have frozen them in some way. And so you continue to see. More and more pension plans that are going in this direction right now. The other big thing with UPS and and really with a lot of pensions is. A lot of them were decently funded until the last decade where either because of the financial crisis or low rates afterwards and they have been able to earn enough to keep up. Well and little people don't understand the low rates and how that influences a defined benefit plan I'll try to explain as best I can because plans. In the fortune in the S&P 15115100. Largest companies in America that have defined benefit pension plan is not that many of them. The early funded to the tune of about 76%. And what happens is when you go to retire. If your interest for if interest rates are low you get a bigger lump sum many of you CNET you've done received taken retirement option from Verizon. If it's streets are high. It's make your lumps some small interest rates are low make your lumps on large. And so that's what ends up happening the other fought this about UPS's that they're doing this because they know they have to renegotiate with the Teamsters. Yet it's I would back again the idea they're they're grown after the driver is that they're trying to get ahead with them I wouldn't be surprised still better off they'll if you're an employee you're better off be UPS will contribute somewhere between five and 8% of an employee's annual compensation to their 401K gaffes while it no no that's not the match the matches. 3% so just for all the showing up. You're gonna get five somewhere between 58% between eight and eleven in terms total healthy toss another ten yourself -- 20% savings year after year it's it's your better audio that track yeah you're better off because if after a deal five years ten years fifteen years you decide you want to leave UPS and go to work some more I'll take it with you it's portable you take it with you. Where is it defined benefit plan it's not portable. It says yeah you're you're you're Ottawa yup. Quick announcement on behalf of Cushing and all during the month of June which is almost over by the way. They are giving away guide called the top ten misconceptions. About your vulnerable trusts here's one. If I'm not the trustee I lead by children's permission in order to sell the home after it is in the herbal will trust with a throng you don't need your kids permission. To sell the house if you have placed it inside of an herbal herbal trust. If you would like to learn more about your vocal trusts and the top ten misconceptions about the call my office 8668485699. Axis them opposites but she handles office. 8668485699. The website address gonna download the guide right now it's legal exchange showed dot com or told free. 866. 8485699. Will blue apron is going public do we know weighing in the end they said that they. It's likely going to be in the next thirty days while. Didn't coast to coast problem can be 45 but it's going to be sometime this summer. I wouldn't buy this. Stock on an IP I'm not allowed to anyway because of registered it. The this stock has very little appeal to me yep we'll wait brand they are now projected to raise about 50% less than they initially anticipated. They're I'm not the only one that skeptical know they were projecting the price their IPO somewhere in the range of fifteen to seventeen dollars a share now projecting in the ten to eleven dollar a share range with the problem. Big thing is that they are not able to retain customers it is it is the single biggest problem they have. Most estimates that anywhere between any anywhere between sixty and 70% of people discontinue the service after six to twelve months of usage. Now. They don't able to reduce the cost associated with the food that they're selling in the delivery they've become more streamlined. But they're big difficulty is in if they don't publish these numbers the only way we got these numbers was from actions Emory University president yeah wasn't. For from my perspective were I've always struggled to get on board with blue apron. Is the cost the cost to the consumer it and support yet Tibet ten dollars a mile per person. And that's just the law when you compare to what he can spend at the grocery store grocery store meals I can get pretty. Pretty easily without doing a ton of work down to three to five dollars a mile per person over you're eating. You know if you're eating swordfish. You know sort of this is gonna run you fourteen bucks a pound you have it a good start if if you're. Swordfish. You what do you say it's art but I have nothing I don't commit swordfish and just saying you know the average person does need swordfish every meal of every day out of the deal but I you know what let's. I I know I mix in a nice little roast chicken that's fifteen dollars for the week and I can be stepping for three meals. Before finally ran out of the only. Chicken I hate so much and gentlemen start to grow feathers looks good to you or you look at it I wish I had feathers it would look better than the pair that I don't have grown so. I think we would lower apron you know the they're going to have to continue to push for. Getting that price down a little more I think to make competitive they can get I don't think it's the price I of these client retention because they spend so why do you but why do they leave. Like I tell you I laughed. He won it took me thirty minutes to prepare the meal to healthy. Well yes sort because it was an enough and hungry talker I I caddie that the rural people leaker I know those of the event. This is why America has a 37% obesity rate and welcome to the jungle. I like to feel full the only good I know I hear an automobile that's like but Tripoli lightly when I'm done eating Tripoli now on full ready for a nap after an absolute no I've. Went when I've been easy to pull it feel like it did after night out in college are ready to pass out like that's that's how I feel like. If it just doesn't feel good to pull its its like a brick seeding and can't do anything to us the afternoon it's very true okay it's awful I mean eco watch Netflix struck. You can watch network path if we're healthy that we know we are slowly trending towards the world predicted in Wally where it's just a bunch of people sitting around on chairs watching screens all day rolling around. I I do wonder. About the future of this company news blue apron I mean maybe they'll survive maybe maybe they'll be fabulously successful. I have a cousin who looks he swears by pardon upon but I think the cooked you do that he gave the you know they. Lee I think your business five years from now that could get better red Tucker who's got Oka and all who get better odds reporters snapped a it's cool now that flat disk or is that just because their costs aren't as high off an end they have. Users they've got lots of young users that still use them. But I'm I'm certainly putting blue paper and on my big board of failure of right alongside Twitter and snapshot and go probe and fitness. Well that that I think I. That's pretty bad. They're on the big board affiliates as you think snap Chad will be that bad. I think snapped at doesn't do anything to distinguish it from all the other companies like FaceBook what you're seeing right now. Before using FaceBook and in two grams tools that are just like snapped jets more than snapshots now. The kids I thought it's kids there except that was dominating they worry what what's what comes after colonials with younger generation Z I believe the disease right so I heard that snapped Chad is very popular among disease they were but ever since you saw FaceBook against Graham roll out their features about a month or two ago. Everyone's been flocking in that direction we'll have that now are you guys fun glad to have another generation pick on. Yeah I mean it is so he sentinel or dental get fools who you are just lazy these days GE UKE get to my kids practicing you can you can just. Blame them for our to do you know. Traffic much it's that six year old you know. Oil's trading at 4425. Per barrel when we come back will be joined are we doing and what else are saying or not I don't. Actually when we come back then we're going to be talking about fuel prices gas prices. On the fourth of July weekend could be pretty good news for that's next from aren't sure match dot com studios. Trump's first 100 days didn't pass any significant legislation put tax reform and Health Care Reform are still on the table. We'll either pass before the end of the year keeping here with the Berrian chuck for the latest on the president's agenda and how the markets are reacting. This is the financial exchange radio network. Hi this is very Armstrong many of my clients are retired or are. Planning for retirement and if you're like them annuities may be an important piece of your financial strategies annuities can offer guaranteed income for life but there are risks associated with every purchase some annuities have high fees while others take control of your money. If you're considering buying an annuity called me right now and get my free guide the truth about annuities learn about the pros and cons and educate yourself about these products before you make your decision call 803934001. That's 803934001. Or you can download the guide right now at our website financial exchange showed dot com. Security suffered through securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated guarantees are based on the claims paying ability of the insurer. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers lake you can qualify for calling sure match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry -- -- Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 of 99 match or go online and ensure a match dot com. Barry are strong here and I'm joined by Jake who who's a vice president and leader banking were talking about the housing market. The housing market as you know. In short of supply. Long on demand. And Jake for first time homebuyers with what is your message to the young couple hours just somebody's out there looking to purchase their. First time home. Yes oh you know for first time homebuyers would we are telling them are a couple things one being patient. You know we we see a lot of first time homebuyers who were making five and fifteen offers two for fighting house and offers except in extremely. Okay. And so they have to temper their expectations. Oftentimes your they're paying more than other half the U. Paying more than the asking price and a yeah it is quite common right now in and in some cases they're actually having to to research other towns and rooted in considered first because. You know it's very pads can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to tell us about this leaders thirty yes so we're really excited about this product we just launched it is called leader thirty. And essentially what it is fixed rate loan where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lower your interest rate payments by one person that's very helpful offer because what it does is it gives you a break during that first twelve month period exactly so gives you little payment relief for your moving expenses that you still have the security of a fixed rate mortgage. When I bought. A home. And when I've refinance my properties have always used leader bank near terrific thank you can call them told free. 8776917. B 900 or visit them online leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. On top of breaking financial news by becoming a member bunker carries brigade mug on the financial exchange dot com and sign up today. This segment of the financial exchange. Brought you in part by bigger bang it's not too late to get a great rate of home mortgage leader bank. As some of the most competitive rates around call 8776917900. Or visit Peter bank dot com. For more information. Cheapest fuel since 2005. Brings US drivers Christmas in July. Yet the the national average according to while gas body is not to 21 on average AAA has the national average at 224 right now. That's down from 237. A gallon a month ago if you take a look at the different New England states right now main clocks in at 224. New Hampshire to nineteen. Vermont 233 Massachusetts 228. Rhode Island to thirty and Connecticut the highest at 244. They love tax they certainly do you know why they get all that coastline up and they wanna get all that boat tax pretty big voters he. You know dollar figure also all the commuters who live there the commute down into the city and everything upright pay 350 gallon fill my vote plus all the people go back and forth between Boston and New York again ever won in west title of the state on there yep yep yep they. They end and now they're gonna bring tolls it. They are they think they're talking about bringing those tolls and you know what state has the lowest gas prices in the country right now. It's easy southern state that say Arkansas Oklahoma those are both good guess is Oklahoma's actually the second what was the lowest right now goes to south Carolina at 191. Yen the highest on the other hand in Elise handle the lower 48 states. Is currently California to. 94 yeah that's all tax. Has faded differences affect. Is the first time in seventeen years they gasoline prices are expected to be lower on the fourth of July than they are New Year's that can be a lot of people drive around this week. And here's some news I just got this from one of our contributors. 81%. Of Massachusetts voters support in millionaire's tax proposal. This is great news 1%. 81%. It's again as it passes this if it goes around this is pretty representative of the divide that you have as far as wealth goes is in this country because you have an awful lot of people. It's not going to affect them so they don't care. Well they think it won't affect them until it won't. Well would vote rich people we're gonna move. Again the average person is never going to make million dollars and no it won't affect them in terms of their ability to make a million dollars a year but would affect guide it makes an 02 million dollars a year five million dollars a year says. Gee why don't we move Liberty Mutual to Manchester, New Hampshire or why don't we move. GE. GE moved from Connecticut to Massachusetts there's no doubt that you or a 100% right about that. But the way that people typically think about issues facing our stupid. No I'm saying the people I actually processed things in terms of how to directly if anything yet not how could it potentially affect me in the future subsidiaries and injured and understand that when GE. Leaves. You know I think that problem and how many people were devastated when GE left the field a 100% it's it's it's it's a very. Big issue and you know I think you'll be one thing if you had a significant need for additional revenue. See huge need for additional revenue right now you've got all this other rev. Tax revenue was way up in Massachusetts actually did need new morality cuts of expenses. The last time it at a ten or 12% across the work cut expenses due at that the way UPS's deal. Right UPS said hey we can't afford these pensions anymore well they're gone. I mean you'd take a look at pulling up the the stats for Massachusetts right now in terms of revenue collection okay the rich state state of Massachusetts revenue collection in. Let's see this is over that's only for the month that's fiscally right I got to do some would you do Cindy and then we'll come back to that topic. Americans say the jobs market is the best it has been since 2001. The latest survey of consumer confidence. Shows that people think it's easier to get a job now. That any time in the past sixteen years some 32 point 8% of those surveyed in June say jobs are plentiful according to the conference for. Matches up with the statistics that we're seeing that when you talk about the number of available workers for every available job. We're pretty much at somewhere between I think it's like ten and fifteen year low depending on the statistics that you look at. And it again we've we continue to say we'll we've got about six million jobs that are out there. It's just there's a mismatch in skills what we've we tend to see right now but this survey of Americans does match up pretty well with what the raw data tells us to. 85% of our listeners think that there should be a minimum wage only 14%. Of us because I don't think there should be any minimum wage. Think that there should be minimally to participate in our poll. Financial exchange showed dot com is the website address. To participate do you think there should be a minimum wage I do not the 85% of you think there should be. We'll be back. From our insurer match dot com city. -- this is very Armstrong and like you I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older annuities may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about a new duties there are many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. -- you're free guide and learn the truth. About annuities that's 803934001. We can download the guide right now at financial exchange showed doc. 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 needs 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 leader bank's local underwriting processing teams for additional information call 877697900. That's 8776917900. Or visit leader bank dot com. Member of the SE equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match that's 84499. Match many of our listeners don't know home -- one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers like you can qualify for call insure a -- to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today paid for. And with your legal exchange quick tip of the day Todd one of the misconceptions. That I hear regarding these Medicaid you're vocal trust. Is that he had to pay a higher rate of taxation. On assets that are held the sea of brokerage account. And it has dividends and income where you have real estate in this trust it's got rental income is it true. That win assets are held inside one of these Medicaid durable global trusts that the rate of taxation is higher if the answer is its faults but again. The misconceptions. Rise simply because there are many kinds of your vocal tracks out there and so. Yes there are irrevocable trusts that are not grant torturous and to result in paying taxes at a higher rate that's of somebody if they have one of these terrible public trust should they should. Verifies. That is in fact a grant to work trust absolutely go back if you if you been paying taxes at a higher rate go back here draft. And make sure that you asked him is that he grant toward trust. Ours our current tort trust. So what does that mean in English that means that all that as you said bury the capital gains the interest the dividends the rents anything that's generating its income in this trust is taxed to you. As if you were the owner for income of and so it just flows out of the trust he gets picked up on your personal return. Absolutely no higher taxes get the facts about protecting your assets avoiding probate and keeping your money in your bloodline all while reducing your state taxes. Request that brand new guide from Cushing handle it's the top misconceptions about Medicaid. Irrevocable trusts 8668485699. And download the guide right now by going to legal exchange showed dot com. Or call for free 8668485699866848569. Whether you're celebrating a milestone toward diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense give leader baker Colin learn more call 8776917. B 900 or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead as we get older the same claiming becomes that much more important and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this mystery trust. But don't listen to the bids about having to give away all of your assets or control over your trust or the best on which as you may have to ask permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away you can stay in control and you never need to ask for permission to use your own money Cushing in gold and the experts and elder luck have written a brand new guide top misconceptions about Medicaid or rev a couple trusts. This guy details thirtieth the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. Or you can download it right now on our website and legal exchange showed dot com legal exchange showed dot com that website again is a legal exchange showed dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number four corner Dubai zero subject current approval leader bank a step ahead. If you're real estate or property management company you -- -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as their banking partner call 8776917900. Or email BDO at leader -- dot com for more information member FDIC equal housing lender. This is the financial exchange with Barry Armstrong and show saga. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chunks. We all know at least one person. Who is in stating the last eight months that the stock market is gonna crash and that stocks are overvalued tech. Janet Yellen alluded to yesterday stocks are too expensive well I'll tell you what. If you're sitting cash today is one of those days were. Your mess and now the Dow's up a 120 points and NASDAQ up 54 points I everybody's buried truck with you here. On Wednesday in you know this darn market just keeps chugging along. It does rebounding after a little bit of a disappointing day yesterday. In every sector in positive territory today of the big winners so far materials up about one and a half percent financials up about 1%. Those are your leading sectors as we start to head towards. The mid day today. All right well at any rate that's where we are oil prices up a little bit in the last twenty minutes and that probably effect something to do that. Production report and inventory level report we got at 1030. Yeah I I would think so I mean. Oil prices again they've been volatile but they've been volatile with in a range you know you you haven't seen as really out of this forty to 52 dollar range. In a while now mean trying to think the last time that we got above or below there then you probably go back a solid year a year and a half right now. And so even though you've seen you know some some 2% days here and there in some movement. Occasionally yeah we we go back now it's been since. The middle of fifteen really that we've been in this range somewhere almost two years now and pretty tight range even though you've seen a little bit of fluctuation between them. As Maine lawmakers try to avoid a government shut down they are debating whether to keep the new tax on high income earners. That voters backed seven months ago was actually months ago. And they went to the polls and I might question as to residents of Maine. Are you nuts anyway. What Maine voted for was an income tax a state income tax. Of an additional 3%. On anybody who's making more than two under grand a year. Via an in this is at. I didn't interest in that's being put in at such a low the relatively low income at the 200000 is low. But there are an awful lot of people. That may owned small businesses that get wrapped up in this pretty easily or retirees to have a lot of money in their diaries that they're saying hey. Why am I at stake in Maine I'm and the eighty years old. And I feel more for the small businessmen is out there trying to earn a living if you've enough that you're taking a 200000 dollars a year for retirement accounts. I don't have to Holland of sympathy it's more for the person who. Hey they might fall into that 200 to fifty range they get whacked with next 3% tax your skilled surgeon. Right yeah and and your being recruited to go work at Dartmouth Hitchcock right. Maybe right now you're practicing in Portland Maine dep and in view of a job offer in Dartmouth Hitchcock would Dartmouth Hitchcock pays 10% more. Just based on no state income tax exactly so that those the kinds of things that you worry about. And in that I just wonder if you know that 200000 dollar limit. Is just too low you can end up with a lot of folks getting wrapped open it hey the Massachusetts is next. It was masters is talking about it at a million dollars. Who knows who knows well I'm a knocking it. Beat Massachusetts up so they haven't done I know and I just mean that mood wrote death this jump 70%. In Rhode Island hold out Withrow you don't. Rhode Island suffers from that. The 95. That ride through the state Tucker I mean that road is that death trap. 95 go to door you're and all those curves what they think and act. Shoes should be straight out of what they were I don't think auto vice but the law a lot of highways and New England. We're going to thank delicate who'd say that route one was gonna kind of go through that hole ask her section you know giant fence in between it but this isn't this is Smart let's let's let's do that. But in Rhode Island 39 people have died in Rhode Island motor vehicle crashes since the start of the year at sixteen more than during the same period last year and in 2016 there were 53 Rhode Island traffic fatalities overall that was up eight from 2015. And this year we're bound and fortunately does seem to be. On a pace to surpass that probably any of somewhere in the seventy ED range though. You know this continues in nationwide trend that we have seen where both accidents and brutalities. Are unfortunately increasing significantly. I think that the clearest culprit continues to be distracted driving to. It to be drawn where there any stats in that article related to the age of these deaths. Nor is a very. Buried atmosphere you know they they do point out distracted driving is being made a contributing factor. And that that's the case that most of the accidents you see on the road today I would like talk to any MTA is anybody's injury entities yes one. Asked him because they see an all time the bill. That they look for that now if you talk to AT&T they look when they get to a bad horrific accident. They try to figure that out right away he would just out of curiosity. I would love to see at least either one state or city or something. Some music Halard I would like to see some municipalities start prosecute the same way they do do you. That's how you get rid of guys here I always that is how you get rid of it's hard for the cops in a disease you talk to the cops in neat tidy Peru's. It's hard to prove in and there their attitude on it is it's a pain in the ass. These days it to the consumer again I assure if it's. An uneasy if you talk to a state trooper right church one more thing that they have to worry about on the highway. And they'll do it when you can still see a guy swerving on the highway bill that he's for a couple more very drug he's read his email. I wonder if there is an option words you can have some sort of photo surveillance similar in your holiday weekend. Check your plates when you're offered absolutely. I mean I don't know how you would send up but if you catch somebody on a photo texting or looking up a phone order than they go there's your proof. Well the problem they had with that out their zone they had that for driving and people would blow through lights and things like that. Did the repeal it because it had to be seen in person you know people are people didn't like that. I do like the ideas of disguising taxes you know while they'll. Work construction workers and things like that we've talked about states that are doing that now you know putting their so that you don't they are easier to do in the city than it is on the highway and this city. Especially at night you you've pointed out check that you can see everybody seal the lights and everything deflating up from inside the car and it would what's interesting though the more dangerous area. Is the highway you know for those types of collisions in the city not going faster if you're in Boston right. You have to defend wonder again about twenty miles now yet I did today you're gonna have some whiplash is not going to be pleasant but. The highway were repeat were texting on the high which is what people don't realize how much distance you cover so quickly when you go in 7075. Miles an hour. And you look down for three seconds. There's a Lotta Lotta damage proper another text out of 43% a simple question are these people buckling up that might be an odd thing or overlooking two they are days. You're you are incentive to buckle as small cars are ya know they beat that you're nonstop as well known people turn those off to buckle up yeah exactly like I was moving some boxes when I was moving and so I had a bunch in the passenger seat and you know the things going off. And so I Gould at all he had to do in my car at least. Was he turned the ignition on but not the gas and then you put your seatbelt in and out three times and when you turn the car on the C problems. Are now. He would leave it to try to figure out the more you know so you don't buckle up it's what you're saying so what I'm saying that if you're Subaru and you don't want to buckle up do that and then you don't have to touch. On Wednesday he squeezed buckle up though on Wednesdays we interview business owners and today is no different in the next segment we will be joined by Paul good don't misuse the CEO of my Elmo. My elbow incorporated is a medical robotics company that offers expanded mobility for those suffering. For neurological. Disorders and upper limb paralysis I'm guessing they do a lot of work with the veterans. Based on patented technology. Developed at MIT Harvard Medical School and by the company. That is our next segment from our insurer match dot com studios. The debate over tax reform and trump terror rages on that. Berrian should give the latest on how any changes may affect your portfolio or your financial strategy only here on the financial exchange radio network. Hi this is very Armstrong many of my clients are retired or are planning for retirement and if you're like them annuities may be an important piece of your financial strategies annuities can offer guaranteed income for life but there are risks associated with every purchase some annuities have high fees while others take control of your money. If you're considering buying an annuity call me right now and get my free guide the truth about annuities learn about the pros and cons and educate yourself about these products before you make your decision call 803934001. That's 803934001. Or you can download the guide right now at our website financial exchange showed dot com. Securities offered through securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated guarantees are based on the claims paying ability of the insurer. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes -- you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered will also dig out all the discounts preferred customers link you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance and continued time stress than money we've just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com if you Google. Asset protection claiming to get more than six million results priceless to make sense of all that information. The answer. Is he shouldn't what do you need to do was called Cushing in Dolan the experts know their luck they've written a brand new guide top misconceptions about Medicaid irrevocable trust this guy details thirtieth the most common misconceptions about using irrevocable trusts to protect your assets get your free guide by calling 8668485699. Think you have to ask permission from your kids to use your own money not a chance that you're going to have to pay higher taxes if you wanna make your assets and available for nursing home costs absolutely not. There are a lot of so called experts out there but take my word for it and get some information from a lot from that has been helping families like cures for nearly thirty years call for your free guide today at 8668485699. Beds 8668485699. You can also download it right now on our website had legal exchange showed dot com that's legal exchange showed dot com. If you're real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and rules they space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and -- -- -- see rent payment platform leader bank has -- business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies to leader bank as their banking partner call 8776917900. Or email BVL at liter bag dot com for more information member FDIC equal housing lender. Markets continue to fluctuate. But we'd judge you've covered in your daily update on what time and what's not from Mike Armstrong every morning at 1030 only on the financial exchange radio network. On Wednesdays we are joined. Five business owners and by the way you wanna bring your business on the show and talk to us about how you run and what you do we'd love to interview are just go to our website which is financial exchange showed dot com but today. We are joined by Paul good bonus he's the CEO. Of my normal. And I know your medical device company but this is unusual this is some light and and you might wanna tune in on FaceBook and watch us on FaceBook as you can see. The device we we have it on our our screen right now. But I know truck. Are chomping at the bit here yup Paula that we were really appreciate you and joining us today but. Can you tell us a little bit about what mile Mo is and what the product is that you've developed through all thanks for the invitation to be here today. So my homo which stands for my own motion is a commercial stage medical robotics company. Our mission is to conquer paralysis. With lightweight wearable robotics a cut for example there are millions of people worldwide. Who are left with upper limb paralysis that can't use their armor their hand anymore. After a stroke spinal cord injury outward disease like and I surveillance. And so this technology developed at MIT. Enables them to. Where this lightweight race even as they try to move that arm. We amplify their existing signals and turned into motion or four my emotions on one of our users said. She has like power steering for my arm does this work for someone who is totally paralyzed in an hour or is it someone who has partial power paralysis and well what is important is that the users still have some Trace neurological signal called electoral Meyer Graham signaled. What happens when we try to move an arm or open hand were basic sending a signal. From the brain through the spinal cord and the muscle. And then muscle or basic commanded you can contract extend. By set you can open closure and and doing cell. The muscle with a Trace Michael voltage to the electoral my grammar you and G signal which you can read on the surface of the skin. So our devices built in sensors. They just sit on the surface of the skin and so when you try to move your arm and amplify it so as long as. We can pick up a Trace signal and then maybe only be 1%. We're able bodied men who would have yup but don't know many people after a stroll human spinal cord injury of warns that this record hasn't been severed. They still have an attenuated signal which we can pick up an amplified. The products that you have are they just for arms or they legs as well this point when we decide to focus on the upper limb. To be with him so we have devices for the noble noble wrist and for the hand Oka as well now we can develop on technologies like in the future are patent portfolio. Covers the any type of war finally device which is clinical term for braced. That is driven by the body's own bmg signals. When did you first start development on these devices how long of a path has it been to get them to market. Was about a dozen years ago the researchers at MIT doctor woody flowers lamb. And what he had been a pioneer power respect for amputees in the asked the question. What about the much larger number of people who have their limbs that they can move on there's been nothing for them yeah so company spun out of MIT back in 2006. I joined the company about six years ago I met the technical team in the patent portfolio it was a this idea to conquer for a else's cell which I like bringing new technologies to market like came on board CO six years ago. We are redesigned tried to be designed lightweight device for home use. In our commercial stage of our ship hundreds of licensed users. How many people domestically. And worldwide. Suffer from the type of paralysis that can be helped by these devices. The numbers are in the millions for example the World Health Organization. Has identified or fifteen million strokes a year. Worldwide really but five million die from the brain injury about five million recover by going through rehab therapy. The other 13 about five million a year. A stroke survivors are left with this ten increases half paralysis and then you've got spinal cord patients and that's AL us cases. Outbreak killed flexes injuries which is the shoulder of the could damage for example in a skiing accident or motorcycle accident. In the United States so we estimated about three million individuals with upper limb paralysis now. How many of those are veterans. A good number those couple 100000 with a BA pick this do they pay for that's for veterans yes this is approved by the VA we already got that out dozens of veterans. At VA hospitals across the country needs you like it. They love it that enables them. Two I'll live independently stay out of a nursing home go to work go to work we've had a for example up. But right users here is not just computers 32 year old woman in Salem suffered a stroke sixers don't miss a lot of young to know. There. And she's now able to use her right arm again she uses both arms. Working through if he's back to your. And who is she says you know I just couldn't do this job and if they have both arms so veteran can get this device just like go to local VA facility or cut thing the house on our website my no more dot com. And don't forget folks he looked at an online look at go to our FaceBook page financial exchange on FaceBook and you can see devices sitting on camera right now. What's the status as far as a lot of private insurance picking this up you Medicare are are you able to have either you know people on Medicare or on. Largest state yet a general HMO or something like that pick this up. We've had hundreds of devices reimbursed by private insurance payers that they'll like blue cross who feel for example. Workers' compensation for people injured on the job. The VA system certain state Medicaid plans about Medigap thank you by the Medigap policy. You know that in a really depends on a case by case basis we have a team that works with purified and prophetic practice with our customer in the that's what they do is they analyze someone's you know health benefits. And remember that this is part or phonics and respects which is a multi billion dollar segment of health care industry are already today. It's just like papers that it which restores functions for someone who's an amputee who this restores function for someone who's lost ability to use one or both arms. What's the current cost of your devices and are there any projected changes to the cost going forward is to get bigger. Walton devices get reimbursed through your thighs and respects practice though they build them based on. Now in the device but also. The clinical services that they provide to evaluate to fit the patient follow on support to. Typically they've they've reported to us they get reimbursed depending on the model whether it's just the elbow or always to noble and the hand from toys to 50000 dollars. And so when you look in terms of getting someone back to work it sounds like a lot of money obviously but if someone does not need to be collecting disability don't forward it can actually and seething. A significant amount of money in the long run as well as getting someone back into the work. Not exactly get back to work you know you're living independently we've had younger people go back to school you know for example and I think devices custom neighbor to the naked this device and I'm looking at. Is that poor people at a certain you know size or how does that work for sizing. Well there are two elements to a device what are the common robotic components. So the circuit board the motors and sensors that matters operate up here right exactly so those are produced for us in Worcester Massachusetts I think I've medics which is a FDA approved contract manufacturer again. And these are custom fabricated because everyone's arms different size so we train the ouster by prostitutes or it is undertake a mold of your arm him. Should the to a facility we use in the Cleveland area accidentally fit properly exactly and it's not a comfortable. He zag and somebody else lately haven't been that ways that we way from two to four pounds while depending on the model and if some people have a folder should we also provide hearts with that as well interest in interstate how many employees do you have at this point we have 25. Look at this point but now that we've five gone public and raise capital now we are expecting to expand that to fuel our growth. You do all your own manufacturing in house or do you have someone who handles the manufacturing. Well we do the and then we contract out to kind medics oh with a coral I think buster company withdrew company and then we contract out the central fabrication. Through firm GRE in the Cleveland area. The symbol by the way folks if you're interested in learning more about this company from an investment perspective. Is MY oh I'm not suggesting you run out and buy their stock I just wanted you to know what the stock symbol forward is MYO is that on the NASDAQ where the New York Stock Exchange New York Stock Exchange and Kati. Now we went public under the new jobs that reggae plus tools and we were the first of these emerging growth companies to be qualified for listing on the New York Stock Exchange you know I wanted to congratulate you because one day I hope you make lots of money. But to your providing a very valuable service and I think about some are veterans who suffer from paralysis as a result of their service to our country. And that's that's the groupie settlement gosh if he would help those folks the end of the day it's very beneficial thank you Paul. Thank you very much for your time today all thanks for coming on and thanks for what you're doing. Folks when we come back we'll be talking about the Connecticut budget impacts from Mark Sherman. Dot com studios. You've got Barry Armstrong next financial exchange. It sure looked financial exchange radio network. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this all originations are managed by a leader bank's local underwriting and processing teams traditional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number four or 950 subject current approval leader bank a step ahead. Hi this is very Armstrong and like you I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients I'm a fiduciary which means I'd make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older and duties may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth. About annuities that's 803934001. We can download the guide right now at financial exchange showed. Com security suffered through securities America incorporated member -- SIPC and advisory services are for through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated guarantees are based on the claims paying ability of the insurer as we get older the state claiming becomes that much more important and if you have loved ones or friends that may need nursing home care you need to protect yourselves and your assets the best way to do this this -- trust but don't listen to them fibs about having to give away all of your assets or control over your trust or the best on which is you may have to ask permission from your -- use your own money you should know that none of these statements are true you don't need to give everything away you can stay in control and you never need to ask for permission to use your own money Cushing -- -- the experts and elder luck have written a brand new guide top misconceptions about Medicaid or read a couple trusts. This guy details thirtieth the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. Or you can download it right now on our website at legal exchange showed dot com legal exchange showed dot com that website again is illegal exchange showed dot com. Searching for the best savings rate leader banks Zoubek counters in two point 058. 1% back on debit 10% back it featured businesses and reimbursements brother bank's ATM fees to learn more about Zuma accounts call 8776917900. Or visit leader bank dot com minimum deposit to open under an annual percentage yield ten dollars two point 03% interest rate mass residents only he's may reduce earnings -- subject to change without notice member FDIC leader bank a step ahead your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well also they get all the discounts preferred customers like you can qualify for Karl insure a match to compare multiple rates and carriers at 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today paid for four of 99 match or go online and ensure a match 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. Or visit leader bank dot com member of the SE equal housing lender and MLS 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 and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917. To 900 that's 8776917. To 900 or visit leader bank dot com member of the SE equal housing lender and -- number 449250. -- credit approval leader bank a step ahead. The financial exchanges low. On FaceBook so make sure like your page and watched you guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Canadian independent state takes place this week. We'll be asking trivia questions about our neighbors to the north. How many oceans border Canada are tech's number is 68681. Listener with the correct answer that question will winning 25 dollar gas card. How many oceans border Canada and again the text number six in 8680. We're talking about Maine and their struggles with a 10% state income tax on anybody who has an income over 200000 dollars. Connecticut where they were TrailBlazer in this area in terms of millionaires taxes and now they're paying the price port Connecticut. Faces budget impasse major spending cuts loom in you can attribute this primarily. To their willingness and desire to chase millionaires out of the state of Connecticut. Yet they're facing a two year budget hole about five point one billion dollars right now. Effectively they have agreed to a deal. With public union leaders back a couple days ago to try to reduce that gap to three and a half billion dollars the union members still need to prove that though. But this is a state that look that they've done everything they've they've they've tried to do everything to raise revenue but he can't get blood from a stone they just take some point. You have to start reducing what you're paying now. People are mobile right knee can move from one state to another if you're rich you are particularly small bio is pretty good chance he'll Holman of the state anyway. Rights away for rich person while they have to do is say well. Honey let's spend an extra two weeks in Florida this year and will claim Florida as are residents and no longer in Connecticut that happens although it Massachusetts. I cant I how many clients have talked. That you know they have a home in Massachusetts they might spend 455 and half months in Massachusetts but they file their tax returns and they spend six months and a day in port. Yet Connecticut he's getting dangerously close to law. I don't wanna say Illinois has they're not quite that bad but it did that when the closest states to being in that situation Illinois we know is in danger of having their rod debt cut to junk which will be the first time the state has ever had that happen to. You know. It is not far behind. Is copper. And what you think about this is copper a better investment. Than gold and give you stats here since 1992. To. Copper has returned three times that goal. It should be buying copper in the 08 it depends on what I guess you're trying to hedge cop pretends to be very good hedge. Way and you're seeing increasing construction and growth and things like that. Which obviously we've seen over the last couple decades I think we're about seal law more. Because of everything that we saw in China in the developing world do you think we're gonna see it as second wave of construction increases I do especially here. Think you just drive around. You know the United States and drive around New England. And then like go to a New England airport LaGuardia Airport and then go to an airport he would he. You know he's making it. Our airports are fallen apart our roads are fallen apart when I drive I drive the Mass Pike I drive and a 953 New Haven. Mean think of our wars and just. Our roads and infrastructure in my opinion. Our crumbling around I would love to cius. Julie multi trillion dollar infrastructure projects. I think it's needed and you gain efficiencies from. And I think the president is very much paper I don't think it's. I I'd be of interest that I agree with you and I think we need an awful lot of infrastructure spending. Out of the machine get it you better schools really like that schools that's that's the talent level thing. Yeah that spend. You know get get the money you know use usually when you do school that you live in Westwood if they win they re did Westwood high school 1520 years ago they got much of that money from the heads of from the state yeah it like the towns and whatnot maybe. Twenty cents on the dollar when they reduced schools like it I guess here's the question is what would you prioritize. Schools. Rose. Well I got it gives schools like gold typically can't get bow you know you're talking about the two most expensive types of projects that you typically see hospitals you can toss in there as well. Ports. Yeah I mean again portrayal. I don't know if you necessarily need a ton of new infrastructure done there. Just because again I think that when you look at rail infrastructure. What that keep in mind is private you know a lot of that's not it's you know talk about public rail line in a lot of fun to waseige. Know that you a lot of subsidy get elected and again and depends on the line if you're talking about passenger in a lot of cases yes you're talking. Industrial it's not necessarily saying that's one way to improve your roads have better infrastructure for public transportation. New reason people take public transportation is not very. Going all in for Michael I promote the I broad robust all be long dead and I think you might be dead before you see that all I don't think so I think there's some companies that are getting close to luster and develop some much interest prototypes. Face the truth about annuities is a free guide it's being offered by my company Armstrong advisory group yet here a lot of things about it news good bad and ugly well who are learned the truth about it duties call my office at 800. 3934001. That's. 803934. Zeros or one the truth about annuities if they have its own use he can get an offer our website financial exchange showed dot com. Recall right now I've got associates standing by to process your request 8039340. Or one. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated guarantees are based on the claims paying ability of the insurer. Exercise. Has a cascade of positive effects that story a study finds eerie the after I read this article it almost sounds like a cure for depression. Pretty much what it what it tells you is that and again this is something that him a lot of people of suspend all the awhile and we all we know intuitively. The F home at 7 o'clock if he'd been were you worked a fourteen hour day. And then you know the wife says to you do want to go to the gym no. But I want you might not want to but pretty much it shows that it has significant benefits for socialization. Being able to be more driven and and also just having more energy in order to accomplish things and and so. Would suggesting is that exercise too often one of the cheapest ways that people. Can work a unit to lose waiter again fight depression anxiety things like that. And yet did you know about the depression thing I always suspected of but I never knew yet there's been a lot of research the last five or seven years about it. That indicate that being able. To exercise regularly. Tends to either fend off or minimize depression about the same number of patients that are on anti depressants. And so with that. You know it's not a one size fits all thing but it should be a first line treatment because. And there's almost no cost did you get her running shoes you're out the door right. You know no. Hope it works out. Never sleep plans buyback after pressure from gamble now Dan little we talked about this earlier this week dwindled. With a Monday. Dan Loeb huge investor hedge fund. Takes a position in nicely and says Jesus. Shake things up a real question whether he could or not he's the only owns. One and a quarter percent of the company yup he's not getting any board seats but some of again if he didn't have the right fact. Yes and and apparently nest Lee has taken the message pretty strongly from third point what they're going to be doing. Is launching a twenty point eight billion dollar share buyback. And also re directed some of their capital spending is well. And this is all inferior. In practice being done to appease their point. And I think really what what globe was doing here with firing a warning shot across the bow saying look I'm taking an initial stake. And if you don't make some concessions I'm gonna come in and start being who I typically am with the average company and he's made money on the deal. That he's he's made money on the deal I wouldn't be surprised via its stock options as well that he may have money I mean that's that's easy all these guys typically do is they take a stake in a biopsy right alongside it and just. There you go. Warren Buffett isn't a bad investor to follow either. He put a sixteen dollar bet on Bank of America and I remember this I think it was a C 2011. And the deal he struck ways to Bank of America is in trouble and even three years after the crisis they were still in trouble. And they needed capital and I think their stock was trainer 56 bucks shares remember. And Warren Buffett took ethnic F five billion dollar state can bought preferred stock. My million dollars is a special issue preferred not just a regular issue preferred I think he was getting 8% interest on those preferred stocks. But it had all kinds of bells and whistles associate news in terms convertibility and options. He bought the stake was back on eight point five elevenths and just about six years ago right now and that was five billion dollars we also bought some warned on top that he was allowed and then the preferred stocks can convert and so forth. It pretty much what's happened is Warren Buffett as we get that 8% a year. Pretty much like clockwork out of these preferred stocks what then is happening is he also has the right. To convert these into common stock and so what he might do is gonna swap these out and say look. Now the stock is able to pay bigger dividend on that share prices when the dividends gonna go up with it. And it could go to 44 cents and if it goes to 44 cents that's a big increase in especially fifty per almost 50% increase in the dividend and because he would end up with. Significantly higher numbers of shares through the conversion is significantly higher value. The amount that he would earned through that new dividend is higher than what he's getting on his preferred so it just makes sense right do didn't you get on or income and you get upside there. It's I mean this is. This is why Warren Buffett is the best investor. Of the last hundred years that'll take the dividend yield on Bank of America right now Bank of America dividend yield is one point 31% that'll jam Jack it up to tune changed that about he has over this six year period tripled as money. Plus earned 8% a year now and I was gonna continue getting effectively north of that on his initial investment going forward it's it's a slam dunk. Good to be king. Up next we'll be joined by Katie didn't flee from the Wall Street Journal how much does that cost to get your iPhone screen fixed I can tell you my truck to entice open talker. But more importantly you'll be curious to find out who's fixing those iphones when you've cracked the screens in the Smartphone and you crack the streets I broke my wife's in the night. That's next from our insurer match dot com studios. The plan over trumps economics continues to affect the markets. Get the latest info on the sectors that are winning and those that aren't right here with Marion jock on the financial exchange radio network. 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B 900 or email -- -- liter -- dot com for more information member FDIC equal housing -- If you Google asset protection planning to get more than six million results are exposed to make sense of all that information. The answer. Is he shouldn't what do you need to do was call Cushing in Dolan the experts and elder law they've written a brand new guide top misconceptions about Medicaid irrevocable trusts this guy details thirtieth the most common misconceptions about using irrevocable trusts to protect your assets get your free guide by calling 8668485699. Think you have to ask permission from your kids to use your own money not a chance that you're going to have to pay higher taxes if you want a major assets and available for nursing home costs absolutely not. There are a lot of so called experts out there but take my word for it and get some information from a lot from that has been helping families like yours for nearly thirty years call for your free guide today at 8668485699. Beds 8668485699. You can also download it right now on our website had legal exchange showed dot com that's legal exchange showed dot com. Hi this is very Armstrong many of my clients are retired or are planning for retirement and if you're like them annuities may be an important piece of your financial strategies annuities can offered guaranteed income for life but there are risks associated with every purchase some annuities have high fees. While others take control of your money. If you're considering buying an annuity call me right now and get my free guide the truth about annuities learn about the pros and cons and educate yourself about these products before you make your decision call 803934001. That's 803934001. Or you can download the guide right now at our web site financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated guarantees are based on the claims paying ability of the insurer your financial strategy has to include a thoughtful insurance plan. Insurance exists to protect your assets. Our friends at the insurer managing agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers late you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry -- bella Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Gold today paid for four of 99 match or go online and ensure a match dot com. Security suffered through securities America ain't. Member finreg SIPC and advisory services arbiters securities America advisors think carry ons from representative Armstrong advisory group in the securities America companies are unaffiliated. Get the latest on economy from CNBC's senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. There are three different notions that border to Canada they include the Atlantic Pacific and Arctic. The winner on this question is Carol from Providence Carroll takes so much 25 dollar gas card. To gulf as surprised our trivia contest. Is brought to by the law firm of Cushing and dole and the experts in elder law if you have questions about your existing estate plan or if you need advice. On creating a trust to protect your assets from probate. Visit Cushing and dole and to date at legal exchange show dot com that's legal exchange show dot com all right we're joined. By Katie bid from the Wall Street Journal she's gonna tell me how much it it's gonna cost to repair my wife's iPhone that I dropped on Monday night hiking. Are you good so yeah I I I was taken her phone upstairs and I dropped in on the kitchen floor and sure enough it's got a cracked screen. And happened. So how much it's gonna cost you depend on who you're gonna go to kick kick it though. I had done a story reporting on them teenage entrepreneur who are fixing iphones for money hand down. What it says one of the team charges fifty dollars to pick an iPhone 5 screen which is obviously an older model all the way up to 200 dollars to pick an iPhone seven plus. And then if you're looking at company like I cracked which partners that they can network that aired in addition to the customer. And you can't go online and entering and you know your zip code in the tiny look at that and I'll find someone to effectively be an on demand technician for UP they would charge 74 and 99 perhaps I have got to 18999. For seven plastic. And then if you're gonna go to apple in your outlook not under warranty he'd be looking at. 129 dollars for a five. IQ 149. Dollars for that imply that really depend. But this has become a new. Job for teenagers ready when I was a kid Katie I used to tar driveways and cut grass. I work a dry cleaners that needs kids has come up let. A way to really take advantage of the fact that they've got a built in customer base yeah pretty much all their friends and other family members have all that often great. And so they really don't have trouble finding people providing customers with service. Hello to take them. Do like him how well to do have a discreet. They actually they're very quick. Though they try to advertise is he their customary you know I can get this back you Lincoln had thirty minutes to an hour but most of the kids they interviewed said they can finish a phone in about fifteen minutes flat. So if I go would did you call it I click. With Ed I I cracking me I collect I yet that the online at that that that network that you would like Allan mine do and that's separate from these teenage entrepreneur or. And and how much these kids make it. Well it's apparent there is one you interviewed who had you speak a little pop up shop on Nantucket last summer heat at a cable set up yeah. And he made close to 24000 dollar. So for them. 24 grant us a good summer. That thought better is stupid ice cream. Yes that is and you know he had a situation where you got Nantucket. I actually public spending package chamber of commerce to find out how many actual repair shop they have there and they don't have one so if you. You Google and Nantucket where you're looking at is. You know there may be I think well legal came up for someone who had. A look here chopping it out of their apartment and you can do and I cracked on demand per cent. But it can't really figured that you know people are on an island at they cut their phone they have a lot of options here. Right he said at the table in town right. I use that pop up cap gas than this year he will be you'll have a people outside of the and you like he shot that the opening that you eat expecting to get. A lot of customers who are standing in line waiting for very scream look at now that you know I beg him iPhone here lightly come right scoop them. Hey god bless them right and I used to who had what a Smart kid you know and act. But this is an isolated to Nantucket you're seeing this across the country. Yeah I mean I spoke with at kit debate in Louisiana I spoke with another kid who's speaking to him that Connecticut beat an Ohio. All of them they have pretty similar paths in terms of how they've gone about that them. Start put that up with the L has really entrepreneurial spirit my quite a kick out of better in one teen who mentioned that. When he was a kid growing up on a golf course he you still weed through the water hazard and pick up ball and resell them at a discount on the cheap knock and that that they started. Put together that you know pick iphones they've got they've got a customer base that you need to find training material but they will keep themselves on YouTube. But rarely get watching tutorial and then what they effectively need to do is find a phone that they can practice on where if they break it it won't be the end of the world. And they've hung their skilled on the start active phone let them once they're comparable they'll start. Charging electric clock that burst at the break he then he and as they really you know become quite skilled at that Alan up and they start making a profit. I guess the risk is as they try to repair somebody's phone and then they break it right. That had actually happened that each of them had you know had a story about. Either air or an instance where they actually did break a phone one other really you know remarkable things about these teams is. How dedicated they are to their you know their reputations and their customers are that where. Now when kids that you know if I would pay for out of my own pocket another can actually did pay for at Saddam pocket so there they are certainly all about. Sort of compensated very dared what might be Kurt he didn't like you know I lack. Eight gigantic pie I really going above and beyond when it comes to customer service. Katie thanks for your time and think you can be deadly Wall Street Journal that website is a guy crap. That I cracked I cracked. To find that online network of technicians that little picture full. Tucker with the worst job you had some. Probably the car wash slash now. Now that's pretty that is that that's clean a lot of crap out of people's car the game a lot to you you find some weird stuff. If you're driveways noted that the Tivo to try target drone. No thanks your new homeowner that of the they should do that this summer just to. Suing you know what you help me you can teach me you know things hated Dow's up a 163. Point oh smokes. Have a great day everybody we'll see you tomorrow for march or match dot it's duty.