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Full Show 8-30-17

Aug 30, 2017|

Full Show 8-30-17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. It has been a tough week for Texas and it's about to get pretty tough for Louisiana. But this morning we got very positive economic data we have to start off the show with a conversation as it relates to. Good news coming out of Washington as it relates to our economy hi everybody it's very and sharp with you here on a Wednesday morning and I I look at that he had the three pieces of data we got chucked eighty. GDP. Everything was considerably better than what I anticipate. Yes some some pretty decent numbers coming out the ADP employment report coming out with projections of 237000. Jobs created for the month of August. That compares to an upwardly revised 201000. And in July. As well as the estimate of a 180000 for August so beating their pretty decently. GDP for the second quarter revised up to 3% from two point 7% so. Things appear to be a little bit stronger and we are expected to get a pretty good third quarter GDP numbers well probably in the three and a half percent range. So overall some pretty decent data coming out at this point I have to think that one of the biggest reasons for has been the weakening of the US dollar over the last six months. Where the dollars lost about 10% and that makes American manufacturing that much more competitive on the. World stage what does this do to the Federal Reserve you know I I booze talking to an economist this morning said why don't think they're gonna raise rates to the middle. Of 2018. United talked about them I I felt very strongly that they would raise rates in December of 2017. I dumpster and hear that that's off the table that projection now for December is down to 35%. Higher to 43%. Just a month ago. Now remember at the beginning of the year tucked and pull the tape from this if we have to mark projection for the year was to hikes now. On our prediction ball actually is on the provisions so unopposed. But why don't say but. I might be right but it's only August would why would they not raise rates in December you've got G that I don't know and along I think they could raise rates. When they meet in three weeks to be completely honest in September. So why with why the hesitation what they know that we don't know I think what they're a little bit nervous about is unwinding their Balch. Okay because they always start that first well I think they're just concerned about the effect it could have just remember no one's ever done this before at this scale near the Fed is sitting there with four trillion dollars in mortgage backed securities as well as treasury bonds and there's they're saying look we're gonna try to do this in an orderly fashion. But no one knows what an orderly fashion is going to look like actually know they've never done this before. And so I think there's a little bit of trepidation there from the end that Missouri's rates rate that's gonna raise rates but we were told an eighth to a quarter percent. But that that's that's like a mini hike you know that's like half a hike right. If your economy's really doing 3% GDP if you beat Elena should be going up. Which raises the question is the economy really doing 3% GDP and I think it is okay but why isn't the Fed moving on. And that I think that the only thing that I can think of him is that they are nervous about. The effect of unwinding some of their bounds and just as they they've never done this before they don't know what the exact effect is going to be a and I think that's what their their most concerned about today. And especially here's the other thing. The dollar weakened you could raise rates now without effect without you know thrown the dollar up to Haydn. It right there and that's that's why I I'm in the camp of raise rates analysts like quarter reporting it's somewhat of a goldilocks scenario fidelity to be Abe. To do this I guess they could say well there's no inflation rate there's no wage growth not enough wage growth to. Two to make it and or give you hammer hard reason to raise rates. Yeah I mean you can say there's no inflation which there is okay who. Greatly no inflation's not a bad thing inflation to one half percent OK it's still no control than the point of the Fed is not to manage to a specific inflation numbers to keep it under control and right now it's controlled by what you raised its nugget you very good points. Hey let's talk about. Hurricane Harvey in the financial impact of what it says wreaking. Unity have upwards it looks like you're gonna about half a million cars and trucks that are destroyed old by the storm yet though so. Euro Liberty Mutual you or. You know any name and insurance company state farm you've got a lot of cars down there. You'll be writing off half a million cars. Which is double the amount from Sam he just it just put that in perspective sandy they were about 250000. Cars that were totaled during that storm the estimate here's how it was Katrina Katrina was hi Katrina was about 250000. As well so just because there hit a Harvey hit such a highly populated area. And everybody Texas has two car. The other thing that so I've been looking at some of the data here and some of the projections that I'm seeing coming in in terms of total loss is now open. Our north a 150 billion dollars. And and I'm not talking economical I'm talking like straight up losses on property now and that's commercial property and residential into put that in perspective. That is more than Katrina and sandy combines them. Now it's it's by about the reason I bring it up though with the economic impact like it's gonna hurt Q3. GDP is yet. We just aren't being her great you'd there's four and a half billion dollars a week just not paid out this week. Those refineries are in open next week the product it'll open up the week after this this as the pits. Insulin I don't know if you've seen any of the video or the photos from mob Beaumont Texas that happened overnight. There is a video where it's and it's a video of a boat. That is I believe it's I ten it's down their act I can't remember exactly but I believe it's I ten there's a video vote open boat going over where I ten used to be and and there's 54 wage scale of like we're talking waves on this highway. Where there's just nothing else there is this point stood in and the reason I bring a bowl Marten. Beaumont is effectively the center. Of the petrochemical refineries and so forth down in that area. And if they're down a lot of others are now. It will here's the tally is is that area in particular if US significant damage those facilities and it's not to be weeks before their back online you can be talking in the December even into January February in some cases it. This could go for four to six months depending on the level of damage to some of these silt. OK so let's use that number 860 billion dollars of damage. That's gonna be money that's paid out through FEMA it's going to be money that's paid out through the flood plants could be putting its paid out by insurance companies some of this is not going to be covered by insurance it's been said we. Choir isn't gonna give GDP of boost in this first second half of next where's that money come from insurance company reserves you can be paid at all and six months and pick remember all too Katrina claim rate paid out I mean it was 56 years in some cases it's. You know this is what people are trying to figure out how to play so I hate to be. A mercenary on this but I am getting emails on this how to we invest around hurricane are. You know do we by the auto manufacturers as a autos. Those 500000 cars were not there they're taken out of the market right Summers and it got to go by half a million new car. The question is worthy and pay for those new cars and you know please keep money insurance companies going to say OK so your car was five years old we're not gonna give you 30000 dollars for new car we're having my talk right used car they might go buy a used car they might buy something cheaper. You know it's I mean this is the the level of devastation that you're seeing there is I've never seen anything like I have never seen anything like. There's the video that you seafood safety was down there and Katrina not like this now. Sandy did not drop this we have now there are certain towns down in Texas that have gotten north of five feet of rain over sixty inches now. Well now and now which I think back is and we gonna hit Louisiana which come from Louisiana is gonna get somewhere between ten and fifteen and it would say oh that's not too bad well bad it's Louisiana lake relying country low lying country intend to fifteen always is badly compared to sixty. So you know you you have now the we've now set the all time record for the most rain in a five day period in the US since 1950. I get there has never been a storm like this since we've had this many people. Every up a controversial. Topic in a very curious to hear your perspective on it because this. Topic is affecting your generation. Too much greater degree than it's affecting my generation heroin deaths. If you look at the number of deaths the largest group if you will in terms of age category. Is the group of 25 to 34 and frankly. That each group dwarfs all of the other age groups in terms of people who were overdosing chart and dying from heroin overdoses I would Bakken is looking at. Data going back to 2015. But now. Researchers. Have developed a vaccine against heroin. That works by blocking its narcotics effects in other words it prevents the user from viewing anything. Undercutting the purpose of taking the drug at all. Sounds like great idea yeah. What I have a question about is this requires someone in the way that it works is it blocks that affected he said but it's only it's only good for weeks at a time it's not something that's a permanent black four week trial less about a month. So the question becomes. If someone is already in the cycle but taking heroin are they going to be able to be responsible enough to come every four weeks to get this shot. Well but after four weeks your physical addiction. You've got through the worst part of the physical addiction I would I would buy real question is Tucker and are talking about this before we came on air said you know. You've got situations were cops or. Providing the nor can earn up to to save a life for somebody who overdosed her and then later that same day. That individual overdoses again. Right. My question is win the injected by narc can't and there are saved by a copper proceed to buy any empty should be simultaneously. Inject this vaccine. Well remember that this doesn't stop them from taking care. Nobody could still go back and overdosed the same is let's say that they've already over Tokyo OK let's say they're given this vaccine they're told OK you're not gonna be able to get high for heroin and you think they're gonna just not try. Well I don't know literally bite my whole point is it if they they've had the haven't tried this on humans. And the do you agree of this problem is just becoming pronouncing gonna lose 50000 people yesterday were talking about Connecticut. Over a thousand people in Connecticut are gonna die this year I'm Harold. How many people in Massachusetts 2003000. I'm I'm not opposed to trying it but again this doesn't prevent people from overdose and now it's like think imagine if your a hacker heroin user yup and someone says okay I've given you this and you can never get high again. Are you gonna try harder than ever. To find that kind of like it it could actually back imagine if you're saying OK can't feel anything maybe I need to try more. Or try something else and or try something or dangerous I'm not saying that it's this is a a bad idea of what I'm saying look like the way that the psychology of addicts work yeah. They're they're not able to think rationally it's why they steal from their own family it's why they. You have to remember that. A lot of these people they may have been good people prior to addiction they're still good people under the surface but when their in the throes of addiction. They do terrible things because they can't think straight days or the poll question today abilities should heroin users be required to take this vaccine should cops be allowed to say. Wilma I'm giving you an arc and shot and and give me an extra. Added to prevent you from getting high for the next thirty days. I do you know I think it'll work. I just don't like I mean the two problems that I see was that hey if someone is trying to get either gonna try harder if they are told they cantonment in BER they can be responsible enough to come back every four weeks to get this. Tucker you have any thoughts on. At least I got to try something and I just think they're gonna find something else I I think this is a band aid I don't think it addresses the core issue the core issues addiction. Exactly well our our website address if you would care to participate in our poll question is financial exchange showed dot com. I just I'm I'm looking at the statistics related to this and I my attitude is. Tried again. Great I mean let's let's do we are not winning this war right now it we'd everything's going the wrong way. I would say tried that I voted already and you can vote by going to again to our web site. Financial exchange showed dot com up next are we talking about the blue collar job. That is now the hottest gains in America. And it pays pretty darn well that's next for march or match dot com studios. Trump hasn't passed any significant legislation yet but tax reform and Health Care Reform are still on the table will either pass before the end of the year QB here with Barry and chuck for the latest on the president's agenda and how the markets are reacting. This is the financial exchange radio network. There are two types of municipal bonds and both can be an effective investment tool but if you're in the market for them take the time to learn the pros and cons hi this is very are strong and this month my firm the Armstrong advisory group is offering a free guide to help you understand the benefits and risks of investing in municipal bonds whether it's general obligation bonds or revenue bonds these investments can be highly effective specifically when it comes to tax on interest earned but they may also have risks that can have an effect on your financial strategy call my office today at 803934001. And request your free guide municipal bonds one of one and educate yourself on the value of these investments that's 803934001. Or you can download the guide right now at financial exchange showed dot com. Securities are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Your financial strategy has to include a thoughtful insurance plan insurance exist to protect your assets. Our friends at the insurer mention agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match that 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 who also dig out all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry -- bella Plymouth rock and more. Their license for all types of insurance can save you time stressed the money we've just one phone call and one relationship. Call today 844 and 99 match or go online and ensure a match dot com. I everybody is Berry are strong and I'm joined today by G-8 tool from leader bank. Leader bank is an extremely innovative bank so innovative as a matter fact that they sell gold. Points right out of the branches you'd want in any leader bank branch. And buy gold coins and sober points for that matter Jake to Li joins me let's talk about your gold buying program. Xperia we've had this precious metals program leader bank for five this year you know. And Dan it's been great because we have customers that will come in in the can buy gold and silver in a variety denomination so they can do one ounce coins from 110 of now Corning's. Beat in game gold bars and we find there's a few reasons customers or interest in it you know you have. Some folks that want to diversify currency risk and buy hard assets. I'm at some of these folks are casual investors or professional investors who do we have some folks who actually wanna buy a small calling it gift for what a great idea the effort grand shy old or and holly so I got my first gold coin it was a gift yeah so we we've been very excited about it you know it's very easy it's not a cumbersome process of walking to a range later. Client is that locked in when he breaks they brought hundred dollar bills and walked out Google points there you go. Wouldn't trade retreat so you can walk into any of the heavy bridges he had seven locations and green Arlington and one in Belmont. When he Cambridge one of Burlington and one in the seaport district in Boston. And you can go on to their web site and learn about their gold buying program some people do it and they do it remotely in the they pick up their goal when they happen to be in town. The website address is leader bank dot com. And if you talk to somebody about their gold program called them told free. 8776917900. All the details leader bank dot com that tree go. But if you want to talk to somebody about buying gold coins out of the branch call them toll free 8776917900. Security suffered two securities America ink members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Polling here on the financial exchange radio network. Leader bank is offering. 15% annual percentage yield this is an online product only. And build minimum balance is required to log on to leader bank dot com. And sign up today Peter bank a step ahead member FTSE Newman and balanced these may reduce earnings rate subject to change without notice and may change after an account has been opened. You know going back to our question about vaccines. To help heroin addicts stopped using. I I am not an expert in the field of chemical dependency. We didn't get a number of text messages and some are worth repeating 978 rates usually a patient goes on something like some box own. First for a year and then legally too vivid trawl to prevent them from slip ups. This is a new vaccine it's not that the trial it is not some box zone. And it's supposed to work for four weaker ties I've been on the market and says is just something that I came across that I thought was worthy. Of a conversation. And I think our whole news split pretty evenly. As it relates to whether or not. Addicts should be required to go along on some kind of a vaccine to help them stop using. The talk about a blue collar job that is now the hottest dig in America turns out like it did. Truck drivers truck drivers. Truck driver pays up five point 7% over the last year there's a big shortage of truck driver specifically to talk to just about anyone out there. They're having a ton of trouble trying to find people who can pass drug test yet they are. It is one of because they test for marijuana it is it's it's one of the biggest challenges is trying to find. Capable workers who can pass drug tests and showed criminal background checks amicus. Thank you feared hire somebody for FedEx right they're not hiring somebody has got to criminal background and they're not hiring somebody whose use drugs yeah and the the hour. The average pay for all workers for truck drivers now is a 252079. Dollars a year in remember that's the average if you have additional qualification to be after Hazmat license or something like that obviously you can make significantly more. Because those jobs are significantly more dangerous require a different skill set. But a significant bump up in paper truck drivers over the last year just because. There aren't enough room right now. They're saying that a lot of the increase for truck drivers is coming because of the increased an op online shop. You know there's so many Peta that are. Buying whether it's their growth freeze their clothing their technology. Ted actions they're potato and never received and Byrd's seat. That they're having it delivered regularly while we're used to go to the hardware store picked -- ever exceed -- crowd gets delivered today you know you re used to go to show us to buy my potato chips the delivered what's your favorite brand sultan that are the one with the little keep commenting on did you cut down its chip to chip it's help what you. I know my chips only chips good job anyway the might lie. Truck drivers getting paid. The priestess getting paid they get a five point 7%. Increase in pay and we really got to the point where we can't find enough for re still yes I'm getting him the business yeah there. That you though it wasn't chuck when you walked Gator Tucker we are locked into Leo every chance. Tucker we when you walked into a Starbucks they are hiring. Yeah you locked into a Dunkin' Donuts they're all there are signs they're hiring and you know 1214 bucks an hour dental work its. Hipster trend I guess a few well but I don't like it'd be like a place you locked in this couch and Internet service. Don't have a bagel and a cup of coffee and a business here now now that ability just the the right now I think. You're hearing. You talk to employers that are trying to hire I don't care what line of work here earlier in nursing with a year in construction with a urine retail Whittier and truck. In the trucking business there's a shortage of work. I was talking to someone yesterday they run up pool company and they've got about fifteen trucks right now you know and they're trying to get another three to four on the road by next year like. If enough people now can't find anyone to run these new out there to run new trucks as say well how much you pay any is based pay if you don't know anything 1819 bucks an hour. You know and then from there you know is like look what you get experience you can be doing 25 point seven bucks an hour with benefits with. Health insurance in the the whole you know nonchalant. They when we come back we will have a full market update for you but will also have a trivia question for you were doing trivia today. Based on the company best buys you might want to bone up on your knowledge. About best buy best buy stock by the way down a dollar 27 today symbol for best buys the BY. Trivia up next from our insurer match dot com Steve. Making your Smartphone even smaller here don't know mobile lab by surging financial exchange shelf in iTunes or those who. Good place stores this is the financial exchange radio network. 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Hi this is very are strong this month my firm the Armstrong advisory group is offering a free guide to help you understand the benefits and risks of investing in municipal bonds these bonds are debt securities that provide investors with a relatively safe way to invest and receive tax free income if you're a high tax bracket municipal bonds are investments you might want to review because the federal government is unable to -- interest earned on these locally issued debts conversely municipal bonds are fixed income securities and thus went interest rates fluctuate so does the value of the bonds if you're considering investing in municipal bonds call my office and my free guide municipal bonds one of one and 803934001. That's 803934001. Or you can download the guide right now at our website financial exchange showed dot com. Securities are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure -- -- 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 that 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 like 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 Laker bella Plymouth rock and more. Their license for all types of insurance can save you time stressed the money with just one phone call and one relationship. Call today 84499. Match or go online and ensure a match 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 of faster closing call lead 776917900. That's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. And powerful street watch a look at the market's performance so far today victim Marian jog right here on the financial exchange radio network. Michael Armstrong joins us now for Wall Street watching Mike let's talk first about the revision to the second quarter GDP moving up a little bit. Yeah strong numbers we are cutie Q2 GDP revised up to 3%. Vs two point 7% expectations that is a pretty substantial beats the quarter. Looks like pretty. Could be a pretty attractive year. Donald Trump talking about tax reform today what our expectations here. Eight that was very anti tax reforms they did they have time there and not go into specifics so it is really just going to be generally talk about tax form outweighed. Yet contagious the African Americans and hopefully. Getting back getting the ball moving on what has been a long drawn out debate about tax forms and haven't really been gone. As far as earnings go it's talk about H&R block in the Al lost 62 cents a share. But where does that put them in terms there estimates. So as mature right on its they were supposed to lose it too and share that's sort of what I was going to happen. There forecasts. Word. They'd meet expectations but they are down from the year goes to take a look at the law that they had in this quarter a year ago it's a little bit worse than last year their revenue that you above estimates. And this seasonality of HR block obviously most their revenue comes in during catcher currencies and this wasn't all that surprising. That it may be being compound it by the fear of an overall big tax reform the stock is down nearly 7%. This morning down over two dollars per share. Another day another retailer missing its top sales estimates today it's sheep goats. That's right so that's the big news here and it could also be missed earnings by two cents a share but the big story is it can't sales were down eight point 4%. Expectations are still pretty bad at seven point seven that they missed even that so the stock down to 36 cents nearly 5% on that. Good thank you very much like that is Mike Armstrong with Wall Street watch. So best bar. That's the topic of our trivia question term Arctic tribute contest for today do you guys know if you do and don't answer. I didn't know what your original name for best violence. Now I don't better about it it's it was a cool name I think they should go back to the old. Is that the name that best buy used to have his way better. In the name that they have now Circuit City and what I know what was reader. Crazy Eddie's now are. The right it. What was the original name of best buys you know the answer that question text us at 68680. And to win a 25 dollar gas card original name a best buys were looking for. Warren Buffett converts is Bank of America Warren's in 216. Point five. Billion dollar stake in the bank Agassi broke the largest stakeholder in that bank. Now days and only about 7% of the company here in this all stems from a five billion dollar investment that he put in the Bank of America back in 2011. In exchange for some preferred stocks we got some income along the way. And the right to buy these common shares later on him pretty much what happened is when Bank of America bumped up their dividend this year the dividend on the common shares is going to be be greater than what he was getting on the preferred and so we decided to exercise these warrants him and now owns about sixteen half billion dollars in Bank of America so he made. You know a tidy little neo 200 in for 230% return which is nice plus all the returned multi income is generated. Pro in May close to 300% on this investment. You look at this bank. And if interest rates ever return to a normal level and I say normal level yet detain Europe says I don't know three and a half percent which is considered a normal. If he ever got that what count assisting become a journal right now extra on now it's at 2375. Right I don't think. They do much though and let's interest rates it's hard to have at least for right everything I've looked at a bit of crunch failed to spank. And I I just don't see how it goes up to. Forty bucks and lest you get interest rates rising. One and the problem is that all the projections right now and don't show rates rise and act quickly you know X twelve and I don't know why. Like I like that there's room for rates to move up now lot of pressure to keep now there's a president wants them down. He doesn't strong arming Allen. I I don't know I think that there there definitely are some weak spots in the economy where I have cancer and maybe the feds are looking at those same spots they say look auto sales continued to decline. Wages are still Staten. Housing had as supply shall I. You know maybe they're looking at some of these things and saying. Things aren't as rosy as they seem. But. I don't know they've they've moved on weak data. For him. They have talked to you a lot at about our friends at the insurer match regency in May exist to make sure that your assets are protected if you're like many of my listeners who won't Holman one or two cars. You're the perfect candidate for free consultation with one of their agents to help you review your insurance needs. Call them today at 84499. Match 54 for 99 match and let them prepare a personalized plan. They'll give you the best coverage at the best price also dig out all the discounts are preferred customers like you can call 54. Call insure a match to compare. Multiple rates from all of the top carrier. Including our bella Plymouth rock and minority for four and 99 match at 8449. And they can save you time stress and money one phone call one relationship that is all you need call today. 84499. Match or go online and ensure matched dot com. Well the president is on the trail and on the stump tweeting about tax reform. What's tax reform would it look like what's this whole debate and come down to. I think that you're going to see some some questions in some divisions with in the Republican Party on what the final form is gonna take in particular. I was all like health care. On the personal side I think they're gonna be some questions because there is a large populist wing that we've seen develop in the Republican Party and over the last five to ten years. And that side actually wants to tax increases for the wealthiest and in order to offset cuts for people who are in the middle of the pack. And it's going to be in in in that that segment of the Republican Party is largely drums bass yeah. And I think he's going to try to play towards that saying look. We need to make cuts on people here in the 15% tax record 25% bracket we need to make cuts there now. He may make a push to raise taxes on the wealthiest one. Which would which is very unorthodox for a Republican yes and and he's going to find an awful lot of people. Grover Norquist being one of them says. I'm not not not happening right is there an awful lot of Republicans said look not gonna raise taxes rate. And so is it happened this year is that this is a twenty Tina I'm start even more and more I read it this is twenty team. The times pretty short to get it done this year not if you've got congress coming back on Tuesday and okay. Congress has to figure out the budget and they've got to figure at the debt ceiling. And there's not a whole lot of time left after that you know it's it's it is a tight calendar and we saw this with. Health care then think about how long they took trying to get healthcare done and how little stores actually happened there. It's always disappointing news the united everybody kind of went into the health care debate assuming that the Republicans I did it I assume that they had a pretty good plan in the bag and they are ready to unveil it turns out they didn't have not had a crappy play in the bag and you hope that they got at least a good tax plan. In the bag I want details see I ate out and there is blurred devoid of any details about the point now late in the next two weeks. I want details at least it's just need to be your final thing but tell me. Okay here's exactly what we're trying to do now and then you can go then let them debate began you can negotiate but. We don't have details. And and I want details now it's it's been eight months and not say and yet to get it passed in September. Let's get the details out so that we can have something by January fed you. What is the NFL football season starts September 7 next Thursday. Next third patriots kick off against Kansas City. And then that weekend and then that yep so this I've just thinking about unity looking college sports and the NFL. And how they might be getting impacted. By a hurricane or. Significantly I mean you talk about anything you out in that Houston area you used you know. Europe Houston Texans football player rate or your say you're going to rice in your playing football here your practice fields underwater. I don't know I mean I think I mean you've already seen that the the Astros and Rangers are playing a game in Tampa just because they can't play downing in Houston. I think you're gonna see disruptions for at least two to three weeks two to three weeks I think probably through mid September at the earliest while just because before they get back OK because here's how I look at any time that lets it get a football game. Okay you're bringing 7080000. People into that area now. Although that doesn't clogs up the ability of emergency planning to get where they're going so to get the repairs done yet you might have the facilities available before then but if they're Smart I think they say look let's just move this to a neutral site somewhere else. And we need to allow our emergency personnel to get in and do what they need to do because. That's a little bit more important than having you know Houston play at home. It's kind of interest in you know tomorrow it's a pre season game and wolf the cowboys and the Texans are playing each other. We're allies at Houston and not tomorrow and so I want her Internet idea. I haven't seen anything but I wonder if the got a flat out cancel you cancel that are moody eight after the Andelman injury a lot of teams are the same way when are we playing these and then the Texans also post it did they just were located actually to Dallas yet to what AT&T stadium hold up okay now. Locally united technology has. That is nearing a deal to buy a Rockwell Collins for twenty billion dollar. Yet this is a deal that would end up making this one of the biggest aircraft equipment makers in the world. They've discuss him pre share per share price rather for Rockwell. Bet a 140 dollars a share that okay and the chatter is that they could come to an agreement within the next three to four days here largest aerospace deal on record. If it happens yeah I mean this this would be this would make them I mean there already United Technologies is a big supplier to both Boeing and Airbus but this would kind of put them in the catbird seat as far as being. The preeminent supplier out there. So would be. Pretty big deal for United Technologies for Connecticut it's gonna be a steep price yeah OK the paint a steep price for this company. But obviously it does do some pretty significant things for them. United Technologies already owns up Pratt and Whitney which is one of the biggest their rented the biggest jet engine maker in the world I believe then and also while you know makes an additional law airspace ports as well. Very. Coming up well the answer to our trivia question will also have a conversation with Gregory Warren for Morningstar. Is it too late to buy Berkshire Hathaway let's we'll talk about next from our insurer match dot com studio. This. Trump the agenda has stonewalled. But there's still much to discuss very in charge of the latest every day beginning its sending only here on the financial exchange radio network. You've heard me talk about Todd what's -- and his law firm Cushing in dole and for years taught as an expert in elder law and he has helped families like cures for more than thirty years planned for later life hi this is very are strong here to tell you that Todd has a brand new guide out this month with an update on Medicaid the debate over health care remains in the news and Medicaid is a huge part of that discussion to take the time right now to get your free guide call 8668485699. The elder law experts like Cushing and dole have updated all of the pertinent facts and figures in their 2017. Medicaid planning guide called now for your free copy at 8668485699. Let. Let Cushing and Dolan do for you what it is done for so many others protect your family and its assets call now to get your free guide 8668485699. That's 8668485699. Or download it right now by visiting their website legal exchange showed dot com. Your financial strategy has to include a thoughtful insurance plan insurance exist to protect your assets. Our friends at the insure -- -- 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 walls of the get all the discounts preferred customers like 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 continued time stressed the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Hi everybody it's very Armstrong and I'm joined today by pot luck ski from the law firm of cushy in Dolan. We're talking about protecting your assets from long term care expenses taught. If a spouse enters in nursing home Howard joint bank accounts and joint brokerage account like investment accounts mutual funds share are they at risk and and and how does it vary for single individual. So if you're married doesn't matter whether it's a joint bank account our joint investment account. Everything. Is considered accountable for Medicaid eligibility and you know what else there that's not mentioned here how about IRA accounts. IRA retirement accounts also at risk for the cost of long term care so it doesn't matter whether to joint brokerage or joint bank account. You gotta put all the money on the table. And start from there. Different however when your single engine right so when you're single they have a different rule. Joint bank accounts with a child you throw to hit on as a joint owner right they do it all the time. If you do that then the joint bank account is deemed 100%. That risking. Unless you can prove that that other person put money and we know they didn't now you know look who Social Security numbers and look who's. Pensions going in there and look who Social Security's going in there. That's for bank accounts. For investment accounts fidelity account of the world right it's deemed. 50% or pro rated based on the number of owners on the account so if there's. A spouse if there's one child on there and 50% of it would be deemed. Not at risk so interesting distinction between the two. But advance planning always the best. Learn how to protect your assets from long term care expenses by calling Cushing and dole and at 8668485699. You can download this month's guide. By going to legal exchange showed dot com that's legal exchange show. Dot com or give them a call to overeat. 8668485699. The financial exchanges live on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles at the most. Days as the financial exchange radio network. Prior to the company's name change we're talking about best buy of course. The name of best buy was the sound of music that you think that's a better name now. Now sounds like it's a broader derivative and likely ripe for lawsuits. Great name written in my generation like Sydney and we'd better than it. Think chuck and talkers awesome speakers would be pretty good and computers and TVs. And TV's yeah you know we do good with that the winner on that question though is Dan from Atkinson Dan is taking on the 25 dollar gas card to shell. In tribute today has brought to you by zero and leader bank's online rent collection tools he writes it's perfect for the busy landlords who doesn't have time to make deposits at the bank. Your landlord and your interest in the zero program call 781641. 8691. Or visit zero dot net for more information. Gregory Warren firm Morningstar is on the line with us now here to talk about Berkshire Hathaway and Gregory thank you for joining us. Gregory you bullish or bearish on the right now. Somewhat bullish you know that the key here is you know the stocks had a good run in the back over the past a year it's up about 20%. Yours gated. No closer and so I needed it had a good run here but the reason we like Berkshire is you know did. Broadly diversified. Permits that mr. true financial services firm. Company's growing up book site to share height single digit double digit rate attempt to trade on book value. And two. Revert to sort or point five pence book value. Valuation over time and right now we're looking at about a 10% discount worker estimated so we we like different from that regard. Thirty parts of the business in particular that you while like. On the age of did the beauty asserted it diversified operating model is that there's there's a lot of things going right. At times and in the could be he's going wrong but right now sort of several businesses more on the ascendancy went to sort of multi year period there where was struggling with cold cement. But it looks like he's improved significantly on that side of the business we'd like that. The overall there's not a lot of good solid businesses within there you know within the insurance from the connect cycle that that's growing. Earned premiums at a at a double digit rate. Continues to gain share a lot of its competitors so there's definitely a lot of this story is going out with an operation. What's the potential downside for them what could go wrong over the next twelve to eighteen months. Well I mean that you did they are a bit more exposed to sort of macro. If conditions so you know US economy went into a slump that would impact them. If you we had. You know large scale. Catastrophe losses in the keynesian reinsurance business that would be BO a problematic. I mean we're keeping I had Harbin sort of their exposure to where that is the that could be you know slightly impact fallen near term. But that the beauty of Berkshire's. You know it there's somewhat of lower on the Stockton Buffett's. You know. Pretty plain out there about he will buy back shares that low prices less than one point two times book value. And that's somewhat established a floor on the stock here so it's. It's never really treatable Lopez as he put those markers out there. And you know it it did not foresee kept him from behind that shares but. Yeah I think overall they did the damage there is you know. Is keeping the market good ticket a downturn that this is stepping into what called. Do you think Berkshire's ripe for any new acquisitions coming up any time soon I know that. Warren's holding an awful lot of cash in bear up portfolio now anything that he might be walking out. Yet need to look at cash balances nearly. He's got a hundred billion on on hand twenty billion of that sort of earmarked for backstop for insurance yet about it though it ten billion per. Operating expenses and sort of field for a run of capex spending so you're looking at about seventy billion in cash that that they can put to work. I know there on the record as saying that look good for deals and sort of five billion to ten billion dollar range. I record deal that kind of fell apart. Sort of stated that realm. But we really you know our expectation is that continue to look for assets to purchase within. The utility. Business in particular on the transmission side is actually over the future that business. This is no longer term and another sort of industrial type firms I think I think Buffett get more attention you know the past 81015 years for companies that have. Heavier capital requirements where you're earning a decent return animals are a most capital investments. A Swede looked. Those two more sort of industrial type berms. You going forward. Very good Gregory thank you very much for the time today we appreciate it. No problem. You two that is Gregory Warren for Morningstar in the company there is Berkshire Hathaway the ticker on them for the much more affordable B share is BE RK dot. BD think he ever grows and Desmond or investing. Heavily outside of the United States. He's seen in you look at most of his acquisitions tend to be. American companies he wants deal with exchange rate risk. Exchange jury maybe in and then you've got legal risks ago legal risks yup political wrist when he start going in that you know there's there's different ways that you're able to invest in different countries you're just about everything he's done he's done a couple things internationally. But they've largely being in the Ian very stable areas you know he's done some utilities and nationally and things like that. He has done a whole lot where meaning generally doesn't do much risky. Investing anyways so nobody at the one could argue though by not going internationally. He's you know he's very over him very much over concentrated in the United States. So if you own Berkshire happily boy you better have some foreign investments on top. I mean Warren Buffett can just point to his performance historically and said beat the S&P just about every year so. You know he's. If if it's I don't know if it's fair for me to say that he should diversify internationally more is done pretty well. Now a speaking of a company that has not beaten. The S&P V every year is under armour were to talk about them in the next hour hope you'd be of the stay with us it's very chucked in Tucker. From our insurer match dot com city is on a date where the Dow is up sixteen points the S&P is up five. Nasdaq's up 35 points. Hi this is very are strong this month my firm the Armstrong advisory group is offering a free guide to help you understand the benefits and risks of investing in municipal bonds these bonds are debt securities that provide investors with a relatively safe way to invest and receive tax free income if you're a high tax bracket municipal bonds are investments you might want to review because the federal government is unable to -- interest earned on these locally issued debts conversely municipal bonds are fixed income securities and thus went interest rates fluctuate so does the value of the bonds if you're considering investing in municipal bonds call my office and my free guide municipal bonds one of one and 803934001. That's 803934001. Or you can download the guide right now at our website financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. 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 traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Mavericks DNC equal housing lender and -- number 449250. Subjective credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan insurance exist to protect your assets. Our friends -- the insure -- -- 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 a free consultation to make sure your property and family are safe and properly covered we'll also dig out all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 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 can save you time stress the money with just one phone call and one relationship. Called today 844. Regarding municipal bonds a lot of you've heard about municipal bonds but you may not understand. Where they could fit into your investment portfolio chuck I wanted to talk about the different types of municipal bonds because I think that's a good starting base for this conversation. Yeah and in general there are two major types of municipal bonds there what we called general obligation bonds GOs and then we also have revenue bonds general obligation bonds tend to be a little bit more stable is they're not dependent on any one type of revenue coming from a state or city but rather their backed by what we call the full faith and credit of that municipality Eric. So are there are ones that are more preferable to others currently Q1 would what would you consider one type of municipal bond. To be safer than another general obligation bonds tend to be because they can pull revenues from any stream coming in in order to pay. Those bonds revenue bonds on the other hands are typically coming from one source and airports revenue sports teams revenue something like that. And because of that they tend to be a little bit more unstable but he can also get higher yields on revenue bonds that's the trade off the face. Ari folks there's a lot that goes into the process. Of buying municipal bonds and you might wanna call and receive our guide its municipal bonds 101 guide it's available for the entire month of August. In you can call our office porphyry at 800. 3934001. That's 803934001. Or visit our website financial exchange showed dot com and received a guide to municipal bond investing it's a terrific guy available during the month of August 803934001. Securities are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Whether you're celebrating a milestone or 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 it just makes sense of leader bank a call and learn more call 8776917900. 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 bank a step ahead. As you near retirement age it's very important to make sure that your state is in solid shape hi this is very Armstrong and if you listened to Todd -- he's weekly show the legal exchange you know that he's an expert on -- life and a state planning the Medicaid rules change almost every year and Todd has a new guide out this month that will educate you on the most up to date facts regarding Medicaid it's the 2017 Medicaid planning guide and you can receive it right now by calling 8668485699. Taught in his staff at Cushing -- Dolan the experts and elder law will teach you how to reduce your state taxes avoid probate and protect the assets you've worked so hard to -- get their new guide the 2017 Medicaid update by calling right now at 8668485699. Cushing and Dolan has been helping families protect their assets for more than thirty years let them help your family 8668485699. That's 8668485699. Or visit legal exchange showed dot com. Your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinances 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 44950. Subject current approval leader bank a step. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now -- leader bank dot com leader bank a step ahead. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day. Simply your world stay informed and today about economic and market trends plus get breaking business news every day. And now the financial exchange with the query Armstrong and shocks. Those of you who invest in the stock market know that they gonna have some winners and you're gonna have some losers. But I'll tell you why when I look at a company like this and speaking of under. All like you think. Is a company that's lost a lot of money in a very short period of time. Heading back to unity go back to April shock of 2050 here's a stock that was trading hack who's over 7580 bucks a share for the split. And what even split it that they're down about 60% and means. I mean this is the under our were speaking and maybe this is Tom Brady's company and then he. The elderly care and stepped Curry's with the there's a but bunch big athletes there and they've been. Spending a bunch of money to bring athletes on as well as bring on college and moving teams. In order to you know continue to build that brand out George speech as well. Speed is with them yet they they've got a really good suite of athletes I think the big thing they sure don't have Kevin Durant. Nothing of popping Kevin Durant is not know under armour fan I mean look this is still a company that's growing pretty quickly Euro revisit the so you know you'd you'd take a look at it and even in the most recent quarter where they slowed this dog 9% year over year growth it's okay. On its down for me you know the fifteen to 18% that they were growing again and part of that is because. Apparel in general just ease. Getting slaughtered I mean you know you go down the list who on the apparel side in terms of actual apparel manufacturers not retailers. Who's doing well what. Don't seem to come and go doping you know like indeed this will have a big year two in the Nike have a good year too and under armour have a good year to. It depends on and we have is an athlete now Kevin Durant is he. You know I I don't know a lot about basketball but is is he the best player in the NBA today too lenient when you get just one player all the leak. He's a top three players in the conversation in the top three Souza like Mike Michael Jordan was the guy aria yes we're not there yet if you go back five years LeBron was the guy you know. There's the lead to Evans to Kevin Durant came out yesterday says nobody wants to play. In an farmers on the story that topped kids dulled. Because they all played Nike now this is during. An interview he used dune will Bill Simmons yesterday. And it sent the stock. It's called say that when you teammate and two time MVP is where and under I know mine just the and I just I. I admire I was just curious to hear your perspective on it. I don't know you as you guys follow sports a lot more than I do and he falls you know basketball. I don't know enough about the shoe market to save whether or not people wanna play in a certain. She was seems like a very. You know on CIQ is kind of told the drop that. On mount Nelson's podcast isn't what ninety yeah out there may be but I I think about hockey players that I do understand. In hockey players use with daylight. You know they gave turn the details to be too much more equipment focus sport there yes it is. You know and I am like hockey players are known for being maniacal about skates and strikes and things like that basketball it's. You know you it's a shoe when you the end of the day. It's a Sheila you don't have any there's nothing pulpit doesn't matter now he noted that the shoe does not make the player wears a hockey. You know everyone's got different things to examine it skates the stakes this Nat mom. I definitely under armor got some problems now in terms of trying to. They've they they're spending a ton of money to try to expand their bread and OK if you look at their spending. Over the last four years to more than doubles. Okay there revenue has as well we don't want revenue to be grown at the same rate as you're spending and you want revenue to be you know excel after. And so that they're having a little bit of trouble they're trying to you know capitalize on some of these new partnerships that they built. And part of that they said like there's an international weakness but also know that there could be some truth to what. Kevin Durant saying in the basketball community could be that no one wants to Wear under I don't know. Now. Gary Coleman. Is the National Economic Council director serves under president trump who's appointed by president from them in the city. Asked to join the cabinet maybe November December and you get. Gary Coleman was quoted telling a group of senate Democrats. That only morons pay the estate tax. It also includes a denial from somebody close to call. You know there's. There's some truth to it I mean I see a lot of people there there are many methods of avoiding the estate tax. However there are also a lot of people who pay state tax the late it's a small number of people. The latest data for 2015 shows that 4918. Households paid the federal estate tax not does non include your state taxes you how many people died in the US that year coming two point six million minutes of 44918. Paid seventeen billion dollars. In taxes. One day on states or valued at eighty billion dollars. I'll I'm not saying it's it's nothing is in I'm not saying it's insurmountable but. He he's getting a lot of hat flak for that statement. Because. Accurate statement I mean like if if you're paying the estate tax and you're taking offense that Gary can't call you moron they grow up late. Sticks and stones like let's get past this OK but again it this is going to be something that gets a little bit contentious here because. We know that Republican orthodoxy is to try to get her to the estate tax. The data shows that almost no one pays. Again you've got 5000 people it works out the point 2% of people who die each year end up paying the estate tax you have to be in the top point 2% of people. For that to matter everyone always makes the case although someone's gonna lose their form over these things. It is rare to have that stuff OK it is incredibly rare to even have to pay the estate tax on the federal so. I think this is gonna be a pretty contentious issue because. I'm either Republicans I say OK keep the estate tax and an outrageous that for an income tax. If they were Smart that's what they do right it is Wednesday night that would be by negotiating play it's a you know and if drugs trying to appeal to his base rate. Is bases and worried about the state taxes is bases were invited to the estate tax does not affect normal people. In any way shape or form it affects the ultra wealthy and that's pretty much bitten and I think we're you know all the concern although it's gonna you know it's gonna put someone's business out of the estate tax it's on the excess over what is right now five point four million dollars if you can't scrounge up money to pay and the excess of five million dollars. There's something wrong with how you run your business is at that point so it eat this is not something that puts the average business. Under water. Student loan balances jumped nearly 150%. In one decade that's remarkable. It student loan down bounces now up to one point four trillion dollars the average student loan loan balance chuck is now 34000. Dollar. Yes we've got as you said one point four trillion dollars outstanding now. And that average outstanding balance is over 34000 dollars or which pretty much same out the people take out when they buy new cars every question this that says 13%. Of the country's population carries at least one student loan. It gets a lower high and it's very high they're saying it would that would mean is that 4050 million people. Are carrying student I would believe that which. Yeah I mean you you're on the map you say 4050 million times 30000 gets in that one point four trillion. Average number of loans that people have missed three point seven per person used to be 2.4 per person ten years ago. I wonder we haven't reached the tipping point on student loans in LA and they like to the point where. You know. You're the next generation your generation is the one that really got saddled with student loan debt is Euro fall enemies he could join the military like tuck beat. If you review of student loans you get it you could join the military not as did. He chose to. He'd been out of wanted to break the that it was shot out right I get your point. That is. And I think we're pretty close to the rather dumb about the whole student loan situation that they they just don't realize. What it actually means to have 50000 dollars in debt and how long it takes to pay that off it's not something that happens overnight. Your generational treat. Teach future generations a lesson I think so. Up next we're gonna be doing our weekly business owner segment will be joined by Ralph dangle Myers he's the CEO of blue snapped. Having a conversation with at Ralph about his business trials and tribulations of being a business owner that's next from our insurer match dot com student stood. Even without health care or tax reform the markets are surging get the latest info on the sectors that are winning and those that aren't right here with the Berrian chuck on the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice -- don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now that's leader bank dot com 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 managing agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match that 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 walls of the get all the discounts preferred customers like 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 Laker bella Plymouth rock and more their license for all types of insurance can save you time stressed the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England to go to financial exchange showed don't come and search for the station closest to you this is the financial exchange radio network. On Wednesdays we'd interview business owners today is no different by the way if you would like to come on our show and talk to us about the business that you're running. Go to our website and it'll extreme show dot com. Reach out to talk herself when he's our producer Gil arranged for your interview with today we're joined by Ralph dangle Meyer CEO of loosening. Rough thanks for joining us. Thanks for having me great to be here Ralph can you talk a little bit about what blue snap is and what it is that you actually do. Shore blues snapped helps merchant collect payments on their website and we also merchants who want our enter payments when naked credit cards that they need to enter. On line or through a portal what is the difference between what you do and what a credit card company doesn't think a lot of people have trouble understanding where you fit in town it's a great question credit cards separately two big parts one which we call issuing and our space you can issued credit card from somebody like Capital One or chased. And then there's other banks that actually acquire credit card transactions receive the transactions Coca. And those are also done by some of the big players in the space but not everybody issues that everyone requires. The key is that we sit in the middle. Between the issue or in the choir tough silt at the payment on behalf of the merchants you actually executing that that payment back and forced we are. So what exactly in terms of what the normal cost is to a consumer or I guess how how does this and it costing people. We're so cost actually passed through is so there's a lot of people had the fingers in the pie here guys so the issue were issues the card and they actually make money every time they issue a card that's why every time you go to a football game Red Sox game in the airport and are flagging you down trying to say sign up for this carnac cart yeah it is. They make the lion's share of the money's the issuers and then along the way everybody that touches that payment will actually take a piece of the transactions so. The person acquires transaction. The person in my to a fried check on the transaction. On the person that might facilitate you moving from one payment Tom rider to another. And of course Visa Mastercard who in the kings are we like to say you know god and now world they like to take a piece of the transaction so. So that's how the transaction to its Plano what makes blues snapped unique in you're space what are you able to do better than your competitors. A couple of things blues snapped as a based term Boston our technology was built over Israel few years ago. And the thing that we saw that I think makes this unique is we saw the developing two things developing one big trend was globalization. As things one line anybody now can Meyer products from January in the world they don't of the Amazon philosophy. So we saw that being unique and we feel we're very strong with helping people through the global structure of accepting credit card which is extremely complex. The second big trend that we saw happening was mobile. We really believe that people are going to buy much more on their phones in earnest and their cards and their phones are going to check with their phones and we think we're the best at doing those two things global payments in mobile payments. In terms of I guess where where you go from here in what you're trying to do next right now you're just providing that payment processing platform. Are you on your point of sale terminals or is all on line at the moment right now it's all on line toga work primarily with merchants were selling online a lot of people appoint a serial. Terminals now are seen ten or 20% business move on line realism people are really trying to adopt both strategies to having PO west in on line. What kind of business can you help to grow and improve their payments system. So any business that's looking to extend their product re still looking to get more customers globally. They're looking to maybe offer a better check out experiences on the phone some a lot of merchants has talked commerce and recently. That sells sneakers and they are really worried about their sneakers dean attack by Amazon and am one of the advantages we can do of that merchant is the ability or have their check out experts look like Amazon one of the reasons of real Lonnie Amazon is free checking checking. That should be free shipping yet and easy check out the right. It's we call a friction with check out experience. And if you're merchant and you were nearly Amazon at least you can take the worry of the track out a way we can make he was friction so look is easy to check hours Amazon. So you don't build the entire. E-commerce shopping experience but you do help out with the processing of that payment in building out how how someone actually checks out. Yet check that's correct so what happens is a lot of merchants will going get their own we call shopping cart war platform distill or there good human Torre on yup. When it's time to check out and actually what happens is another page to its present which you'll really know it happens behind the scenes and that's when they're connected to someone like us and we facilitate check out process them half of them are and looking at blues now. You're based in you started in Boston okay for me merchants to have across the globe at this. We have thousands of merchants practical and actually we are origin was in Israel OK and one of the things that we thought was really cool what the company was that it started in Israel and because of that it immediately had globalization baked into the platform is when you start a business and Israel capital of business at around isn't it right Israel's size and New Jersey CO. Very few people bill business plans animal only gonna sell New Jersey I guess unless you're selling bagels or something. But at the but anyway. So what happened is it already had a global nature baked into it and so what's happened is we've acquired a little over a couple thousand clients and half of those were outside the US and half for inside the US. In terms of your company right now we are poised to have. So we're proud of 120 people token on crossed round based around the world we have about 65 or so when Israel you know we're restarted we have people in London headquarters is here in Boston about forty people here in Boston growing and we also folks out of the so Camellia area. You mentioned your grown at this point what kinds of people are you trying to bring on as engineers sales people all the above all the above especially people that no payments and one of the things that we found slightly challenging is. There's not a lot of payments expertise has lack of knowledge or payments PO don't go to school and graduate payments degree. So calm were happy that a fine people that we think are extremely skilled and payment payments and they see him believe the same vision haven't joined the company I was gonna ask you about that what what kinds of skills of someone is says OK this sounds interesting what kinds of skills to they need that are transferable to your business. So some of those engineering skills are transferable some and importation skills and transferable on some of the marketing skills transferable. Mom but really when you get into the nuts and bolts of the business you really need to understand how payments working have to sort of adopt our philosophy on this global mobile. Is going to be the next big trend in payments in terms of let's talk a little bit about mobile because we hear so much about whether it's you know apple wallet Google wallet there's Samsung pain now it is all these different options that are out there. Are you platform agnostic or do you try to pick a winner. You know right now where we're sort of ball or platform agnostic so we let the merchant try to pick coming winner for their market Coca. But we're also betting on the technology that were degrading to that they're going to be a winner and so let's break this down for a second I think people get a little bit confused I don't know if you've used apple pay recently to get to buy something. So these are called Wallace right so what happens is your phone stores payments in a wallet. And in these wallets there's many people trying to get your wallet apple Google chase. Samsung. Allie page. We really believe that the winners of these are gonna be. Probably the device right the android page is designed built right into the system built in the system I think that's not a hard that same with apple. And then the other ones might be some of the payment types like Alley pay right which is really dominate again over in China. I think PayPal which is dominating here in the US so those are ones that are easy to try to pick up. And data on and then there's wild cards out there will the banks like chase actually have a wall that wins or will somebody like visa was built on ball win. So those are the wild cards to me Ralph we only got about a minute left in terms of security on these different platforms yes what are some of the things people need to look out for. With a good news is we worry about that for you. And what happens is what people don't realize is when you pay on the phone. There's a process that happens call token as Asian which makes that transaction much more secure than swiping a card type in a cart is old technology and when you use the phone using much more secure technology and swiping cards. So wants to learn more about blue snapped. Where did they go. The snap dot com. Produce pretty simple all very simple outstanding Ralph we appreciate you joining us today in thank you very much for all the time thanks a lot. Ralph dangle Meyer he's the CEO of blue snapping once again if your interest in learning more about that company you can head right over to blue snap dot com and. We're always looking for business owners you know you were running a business that are contracting company. Pool company years technology company medical device. We've got to hear from you. Our website address is financial exchange showed dot com just go to the website. Reach out to talker so he's our producer and he'll schedule an interview for you to come on our show and talk to us about your business up next we'll have a trivia question for you. And we talking about Hoover they are under investigation. For possible foreign bribery law violations. You've got Barry Armstrong. Financial exchange shall look I mean Cilic ginger radio network. 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A step ahead there are two types of municipal bonds and both can be an effective investment tool but if you're in the market for them to take the time to learn the pros and cons hi this is very are strong and this month my firm the Armstrong advisory group is offering a free guide to help you understand the benefits and risks of investing in municipal bonds whether it's general obligation bonds or revenue bonds these investments can be highly effective specifically when it comes to tax on interest earned but they may also have risks that can have an effect on your financial strategy call my office today at 803934001. And request your free guide municipal bonds one of one and educate yourself on the value of these investments that's 803934001. Or you can download the guide right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. You've heard me talk about Todd what's he and his law firm Cushing in Dolan for years taught as an expert in elder law and he has helped families like yours for more than thirty years planned for later life hi this is very are strong here to tell you that Todd has a brand new guide out this month with an update on Medicaid the debate over health care remains in the news and Medicaid is a huge part of that discussion so take the time right now to get your free guide call 8668485699. The elder law experts like Cushing and dole have updated all of the pertinent facts and figures in their 20s17. Medicaid planning guide called now for your free copy at 8668485699. Let. Let Cushing and Dolan do for you what it is done for so many others protect your family and its assets called now to get your free guide 8668485699. That's 8668485699. Or download it right now by visiting their website legal exchange showed dot com. This is a special announcement for a landlords chasing down -- rent payments and making trips to the bank to deposit checks take a hassle out of rent decked with easy grant leader banks all mine rent collection tool he ran automatically deducts tenant's rent and deposited into your account visit WWW -- he -- dot net to learn more -- -- rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW dogs he ran dot meant to learn more or call 7816418691. 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 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 free consultation to make sure your property and family are safe and properly covered will also dig out all the discounts preferred customers like 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 like our bella Plymouth rock and more. Their license for all types of insurance can save you time stressed 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. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking -- -- one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay log -- to leader bank dot com get all the information about this great offer and sign up today be for the rates change get free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. They say video adds ten pounds. But don't tell Berrian jogging in the financial exchanges alive every day on FaceBook and YouTube Davis he's the financial exchange radio network. Time for trivia in our tribute topic today is the electronics retailer called testified. Used to be called sound music. How many best buy stores currently exists in the United States I was shocked by how many there are. There are a lot more best buys then there are whole foods I just there there's a hit drilling. Like more than double while many who are more than 900 for any of you who 940. Any action our text number is 68680. Should you care to participate. And questions very simple how many best buy stores currently exist in the United States' first listener with cricket to win a 25 dollar gas card. Whoever is facing investigation. Of possible foreign bribery law violations. This is a go to jail tape accusation. Not good in this is the Department of Justice is looking into whether or not who were violated what is called the foreign corrupt practices act. Which bans the use of bribes to foreign officials in order to get or keep business. And so this probe has been open right now Hooper spokesman says they're cooperating. But. Keep in mind is a company. Her new CEO hosts media walk in the door and now by the way we're investigating you for for a car foreign corrupt. Bribery well he's not allowed to do. No you're not allowed to and you know it is it something that is going to. Linger over probably the next six to nine months. Of this company's future just because this is the company they have guys that long. You don't think it's long it's just the investigation yeah beauty if they find something it's gonna go on much longer and but the investigation probably take somewhere around six to nine months while it may explain why a lot of the leadership as accident right if they knew this was coming. It could I mean I think that that's more culture war that's going on knew him right now I think that you had a lot of allies of Travis clinic who just felt they didn't have a place in that company anymore. And so you know this is a company. That has been known to skirt the laws in a lot of situations they have been aggressive about expanding regardless of what the prevailing laws are it's not to say that they did anything illegal Diaw in the awareness in this aspect of their business. But it's a company that has had significant question marks elsewhere what was there issue in the Philippines because I saw their back on line that did pay like ten million dollar fine and they had to pay a a ten million dollar fine in order to get back on line. In the Philippines and pretty much they've lost two weeks of business here. And pretty much. There was an order on August 15 for them to stop signing up new drivers pending a review of regulations and over said no we're not going to and so they said. You're shut off well. Shut him down. Now they're competitor complied with the order but who were just kept signing people up and so they got suspended net pay the ten million dollar fine. I've been doing business with leader bank for years because they're always coming up with. Great news deals and they've got a great one right now that it's might be worth your checking out leader bank is offering. And electronics savings account. That provides free online banking with a one point 15%. Annual percentage yield. This is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up today. This rate can change without notice or don't delay. Log on to leader bank dot com get all the information about this great offer and sign up today before the rate changes. Get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is available online only. So log on to leader bank dot com right now that's leader back dot com leader bank a step ahead. Member FDIC no minimum balance fees may reduce earnings rates are subject to change without notice. And can change after an account has been opened. Nike has a problem. Air Jordan which is a sneaker. Is all of a sudden not that popular but how well what was the Jordan hare was that the 1990s when he was. Dominant player in basketball the I was mid to late nineties so now the kids. Kids seemingly not really cared about air jordans. Did you think that's true talker I don't know. I'm not I think this step certainly decreased in popularity. I just I just think it all sneakers overall across the board had decreased in popular they are part of his people wanna pay the cost of peace and their attitude toward America. Upwards of 120 and above any kind of like some song for north 200. Yeah it's a list that's a lot for she's crazy. And you know part of it the the Jordan brand has historically been the most valuable one for Nike even once he retired in it was still the most valuable brand for than usual for an athlete isn't. Yes it like tiger tiger while he still playing in his his stuff. Is he is popular as he was if the original Nike can't make you stop making golf clubs correctly that that tells all you need to know this it will just gonna do apparel right now. And they did that right after signing ward Mac so there's no one who's popular enough to keep gulf before. You know Michael Jordan is still. Tucker what do you think he ranks in terms of most marketable athletes today he still has to be like the top five rate I think he's easily number one or two. I mean Michael Jordan sure oh yeah I'm trying to think like who's I mean like Brady's gotta be close. Nice people hate him. Yeah you know he's I look you still do what he doesn't endorsements they might hate in the they still buys crappy in. Parts of the country just put this for LeBron James is the best player in the NBA and Michael Jordan is outselling amstel. Yeah I did note aria and not particularly close. Real igniting close. It's still air Jordan's number one but it is decreasing I guess they'll trying to think of anyone else who comes close CNET and curry may be but that's I can't eat you think of a professional athlete that area in their zenith. While they're playing the sport. Unity Wayne Gretzky rate and may go through list actually have a stalker the world's fifty most marketable asked Scott every soccer in the top three tries you have people believe it's it's different than it is in the United States now. Let's see here I'm just trying to get you know the top ten here. A case of stepped curry is out cumin and number two. McGregor is up there convert grow you know he's obviously they later your shirt in terms like people that we know as a whole bunch of soccer players that I don't think anyone know Jordan's beat his number six. And mobile's Jim this number eat food. O'Dell Beckham number ten dollars he's a big one the the younger generation is obsessed with nodal duck junior yup and obsessed for some reason yeah. So surprising if economy David number 151 hockey player on the list. He's still very young was it like twenty years old Atlanta and I wouldn't expect to see him up there. Whole bunch more soccer players. Some tennis players. Looks like a either rock climber swimmer cyclist I can't tell means canard tell sport that is there. Dustin Johnson. Chris Bryant Michael Jordan still the top banana the F. Surprise I mean the big guy the guy just knows how to sell stuff and. Amazon looking to whole foods to boost their online grocery shopping online grocery shopping accounts for less than 5%. Of the nearly 800 billion dollars in food and beverage sales in the United States. Despite Amazon and others ruling out deliveries. In major US metro areas. I don't know if it's ever going to get above 50%. All that. Could take a long time if it did I think the year obviously seeing growth there most the growth that I've seen is somewhere kind of the 30% range somewhere in that ballpark year over year at 23. But. I think. Clearly Amazon wants to be able to sell groceries they wanna sell everything. But there also I think realizing and I think what they're doing with this grocery store purchase of whole foods is say there are certain products that people might not buy out. And groceries might be one of the ups and that they need to have a beachhead. Actually in actual retail location or here's. I think this is the mindset that dam is at stake in news we are to have these whole foods and we know you're gonna come into the whole foods store. We know your customer is 62% overlap between prime numbers in whole food shop yeah. He walked in and you know Tucker note they note Tucker always buys gala apples and he knows that he buys. But tonight Tucker barely boldest and dies and they know that he Italy to get into like half a great year turner. Your routine channel in your brands that you appreciate Ailes is not real food. But I don't who decided we should I know they're wrong and what food I buy out got a ordered up a credit to put on its host. I might but I think with the Amazon. Appliances. Is the know that you have these repetitive items that you purchase when you walk in. In there and say hey you can buy these the same exact types of Apple's in the same types of avocados in the same types of seafood. And you don't have to come to the stories of Arafat will have a shopper walked through the store by your seafood for you by your Apple's buyer broccoli. And you be happy with a because it's what you bought when you were in the store two weeks ago. Their think that's the business plan approach that. And I think that. I chucked isn't just will bumpers on on the view I. Well I would stick around long enough to see fear mindset changes I'm willing perspective I'm willing to give them an initial chance or 2 PM and then if they didn't look me crap then I'll go back to shopping my own you know. That's all console chuck I can't studies get. Why to import term. You are food means to me we all have retirement accounts. Right we have been hiring a got a 41 K plan for a three B 457 Keogh plan to set whatever it is you have a retirement plan of some. Kind. What happens to those when you dot. What can your kids do with your higher rate your individual retirement what can your kids do with those. Once you. Are on the wrong side of the grass. We'll talk to Dan moistened from MarketWatch. About inheriting retirement accounts next from our insurer match dot com studio. The financial exchange for Barry and judges live on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. There are two types of municipal bonds and both can be an effective investment tool but if you're in the market for them take the time to learn the pros and cons hi this is very are strong and this month my firm the Armstrong advisory group is offering a free guide to help you understand the benefits and risks of investing in municipal bonds whether it's general obligation bonds or revenue bonds these investments can be highly effective specifically when it comes to tax on interest earned but they may also have risks that can have an effect on your financial strategy call my office today at 803934001. And request your free guide municipal bonds one of one and educate yourself on the value of these investments that 803934001. Or you can download the guide right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in east savings account providing free online banking when he one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank dot com get all the information about -- offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now that's leader bank dot com leader bank stepping. Add member FDIC a minimum balance fees may reduce earnings rates subject to change without notice and may change after an account is opened. You've heard -- talk about Todd -- -- and his law -- -- -- -- and for years taught as an expert in elder law and he has helped families like -- for more than thirty years planned for later life hi this is very are -- here to tell you that Todd has a brand new -- out this month with an update on Medicaid the debate over health care remains in the news and Medicaid is a huge part of that discussion to take the time right now to get your free guide call 8668485699. The elder law experts like -- and -- have updated all of the pertinent facts and figures in their 20s17. Medicaid planning guide called now for your free copy at 8668485699. -- -- and -- do for you what it is done for so many others protect your family and its -- -- now to get your free -- 8668485699. That's 8668485699. Or download it right now by visiting their website legal exchange showed dot com. Your financial strategy has to include a thoughtful insurance claims and insurance exist to protect your assets. Our friends -- the insure -- -- 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 zero 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 like 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 like our bella Plymouth rock and more. Their license for all types of insurance can save you time stress the money with just one phone call and one relationship called today 84499. Match or go online and insure a match dot com. Security suffered through securities America income members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question as financial extreme show dot com while you're there buyer of the media player and watch the show while you work. This is the financial exchange radio network. According to best buy is the latest quarterly earnings report there about 1024. Best. Buy stores located in the United States today. The winner on this question is Peter from sandwich Peters take Newman 25 dollar gas card gulf as a prize. And trivia today is brought to you by zero and the leader bank's online rent collection tool. Leader is he ranked as perfect for the busy landlord who doesn't have time to make deposits bank if Euro Landler and your interest in the zero program. Call 781641. 8691. Visits you rent dot net. For more information. If you're ever going to inherit and higher rate from your mom and dad. War if you're a mom and dad and you're gonna leave and higher rate to your kids. It's important to know what the options are as to how to handle that account once you inherit that diary we're joined by Dan Boyce and from MarketWatch to talk about that very topic again. Good Sudan. Let let's talk about the options that children have when they inherit retirement accounts from their mom and dad not. Not a spousal hiring inheritance but you know you inherited diary from your mom and battery even for that matter and on turn uncle woody what can you do with that money. Right and non also beneficiary. They'd they'd actually have mr. named outright as beneficiary they have the option just take all the money one. Point time is probably the most common. Things that people do. Because they have things going on their lives in. They wanna spend money on that the problem what during the courses of little large amount yeah you're gonna pay significant tax dollars on. Let's give an example Dan district South Carolina in and you walk us through it. Let's say you live in a high tax state and your mom believes yeah 100000 dollars in her your hire ray. And you have a job you know your purity 120% tax bracket and you inherit an IRA with a 100000 dollars and it. And you take it all out to buy new boat tree take it all out to pay down the mortgage Japan after credit card bills what's the tax ramifications. It's as if you earned an additional 100000 dollars of income from your jobs with no added on top it's going to be taxed at the highest. The next highest rate. Above that. You don't pay payroll taxes on that little security during without but it it's added. Basically intact the same way as that would be if you had to got a 100000 dollar raise. So that could be they could be like a 3540%. Tax for connect. Usually. OK so that's that's one option but boy that I wouldn't recognize I would recommend it right. Cracked me and what we what what most people. Recommended to them and in this situation. Where they're named as the beneficiary directly. Is what we call stretch option to. Which. So I'm fifty. And the other table. That my life expectancy. It is. 35 years. I basically. Requirement. To take out 130 there. Of the account and this year. Yeah that's good that's gonna catch a lot of listeners by surprise there because they're gonna say one nuts about fifteen I'm not seventy yet. I thought very because I've always told people you have to take money out of and hiring until you're seventy. The troop until you inherit. And then there are other ways it's a similar things when you're stepping up its a little bit different scale than Albrecht architect. So that a getting taxed unlawful under our belt and I'm only getting text when I decide to take a subject that minimum means the bulk of it. 3430 as can stay in. The accounting continue to grow. In the used later on down the road so you have more flexibility there you'd start doing just take up the minimum and then something comes up. You know you retire yourselves you can take out more and and pay taxes at that time. A listener just texted in a question Dan and I wanna know if they can roll. The money that they inherit their mother died. And they got about a 100000 dollar from their moms IRA can they ruled that 100000 dollars into their 401K plan. It. That's easy right now to contribute ordered. Are so it has to be. A separate when you inherit an diary from another generation it's it's got a different type of account title to write to you when you go to new. Say you call your local financial advisory go to fidelity. They're gonna keep that money always segregated as long as you have the talent. That's correct. It's usually titled something like stunned as beneficiary of dead Larry. OK merry. What else can you tell us about inheriting diaries from our parents that we may not have been aware. Give another stretch option thing you have to start out by December 31 of the year after the year. The original account owner passed away. If you don't do that you'd then have to have all the money out of the account. But this tax year is a year. I didn't know that so it let your mom dies in 2070. That means you have to start that stretch optioned by the end of 2018 is that right. Cracked. And a failure to do that means you have to take the entire hundred grand out over five year period of time. Yes you can take it edit in any. Pattern you want yeah. Ball needs to be operating and that's this year so if you're if you're what pictures somebody has gained little boy you don't want for a lot of taxable income in the stretch is appealing to you mean. You need to get that started. Or our that's not communication and take that money out much shorter period of time and Paola subsequent. Dan thank you very much for for a first of all thank you for writing the article for MarketWatch analysts secondly thank you for coming on the show. Arnold thank you it's been fun anytime. That's Dan moistened talking to us about. Inheriting. Retirement accounts in a checked you work is a financial advisor get this much less catch a lot of people by surprise it does a lot of people is especially what you see is. While parents might be informed about this yeah they might not have the conversations with the kids in a lot of cases in kids a lot of times coming completely and prepared for what to expect her. And I think that's one of the biggest things is making sure that you know all your options in that way can make the best decision does. But everything we situations sing like you know it's funny you mention that because years ago. One of the fellows that I. Knew from hockey inherited about 40000 dollars from his mom's IRA if you know what to do so we just took it all out one time oops. It pay taxes on that one year big mistake folks do some research before his cash and and I array that you inherit from your folks are not her uncles very important that you do that. Dow's down six points crude oil is trading down 44 cents a barrel at 46 dollars. And we're broadcasting from our insurer match dot com stick.