Oct 3, 2017|
Full Show 10-3-17 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
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 an economic and market trends plus get breaking business news every day it's. And now the financial exchange with the Barry Armstrong and chuck Exxon. Transportation. Represents approximately 9%. Of our gross domestic product in automobile sales are important the numbers being reported today. Reflect a lot of strike hi everybody it's Berrian truck with you here. All 18 Tuesday. I think we knew that we're any stronger than expected auto sales I'm not sure we thought that do come through in September. No I mean it might be a little bit sooner than we expected. And I think it still remains to be seen with a bomb that we are seeing. How long that keeps up I I certainly don't think that you can keep this pace up for more than three to four months presidency certainly get one more month. Mean that would be October I think October November may be I think the by December mock votes most of this is probably shaken out and and we're kind of back to normal via but the numbers are good for the month of September at least what we've gotten to this point forward up eight point 9% for sales compared to 2.3 percent expectations. Fiat Chrysler down nine point 7% say well that doesn't sound too good will they were expected to be down 13% would you say Fort Lewis. Porter was up eight point 9%. If stocks up 2%. Fiat Chrysler was down nine point seven compared to down thirteen is the expectation the GM sales were up eleven point 9% for the month compared up seven point 9% on the expectation there stocks up 3% Nissan sales up nine point 5% compared to an eight point 7% expectation of decline in his that's a big swing for them. Toyota up fourteen point 9%. I don't have a a top number four Toyota and a whole point would you say they're Toyota was up fourteen point 9% that's bear extra which was. Which was very good there and and this is you know overall. GM had been down about 2.4 percent for the year prior to. The month of September okay written board had been down 4%. Chrysler had been down 8% Toyota had been down one point 3% Honda down half a percent. Nissan one of the few bright spots up point 1% in its all because of one vehicle. Which is that the Nissan rogue which is the best selling non pick up truck in American. So what is it is misused the it's a midsize ushering it's it's it's amid satellites oddity we view is it bigger or smaller than on this year it's the same as us guys yeah pollen but it's so to put in perspective the CRV those are real popular cars to discuss a helmet to crappy in the back the CRV is done about this is through August just as I don't have the September numbers up data for year to date. The CRV through August done about 249000. Of broken down to 57 who'll remember that debt when you bought a lot more. Yes you couldn't fitted in either of your car's good. No like I couldn't yet and that's you know that's one of the things he by house or start a family. You need me what at least one of the cars needs to be a midsize suvs war. Lord forbid do you see chuck driving around and and minivan. Again yeah my efforts are on an event in my parents' old enemy down it was 1990. OG must been like in 9697. Toyota Sienna that was my first car that I had through high school. Wait the outside yeah I. I I as is my nightmare. Well as you know on the big fan of their product and love their model last I don't care for the acts. The model three haven't really driven and seen up close and rocket and a reserve judge is no one has yet. Well be the deficit problem produce and they were the only built 260. In the last quarter when I mean they're supposed to build like if. You hundreds post build about 15100 and there's there's one quote that stands out to me in this is coming from Tesla spokesman. Tesla says it's important emphasize there are no fundamental issues with the model three production or supply chain we understand what needs to be fixed or confident of addressed in the manufacturing bottleneck issues in the near term. What do you mean there's no fundamental issue if you can't make the cars that would seem to be that there's a fundamental issue. I think the issue is when normally if I talked to an auto guy over the weekend and in use a guy that was in the industry owned of an automobile companies and normally what you do. If you're coming out with a model three. What you'll do is he'll put I don't know. A thousand of them on the road for nine months to a year which is by the way it was shabby did regularly did that with there're there are new bold with the B. In and they and they put him on the road and then you you worked out the bugs because you find out that you know the air conditioning doesn't work the left. Window doesn't go down property like. You're work at all about you find all the problems before they get into the mass market. In what Tesla has done is they've put 260 of them on the bit to sixty that are on the road are all. Driven by employees all poised stock holds they're coming back into you know the building every day saying hey I had a problem with this had a problem with that. Normally get a year. And in the problem where we're I think you gonna run into issues is that Tesla has said they wanna get to 500000. Vehicles per year. By 2019. You've got fifteen months to shake this out right now he's built 260. There now this it that's 40000 a month for this helps that the math well and and keep in mind as as I've said before. There are only three vehicles. Okay actually notes are. There are two vehicles in the country itself 40000 a month on a consistent basis of the Ford F 150 in the Chevy Silverado. Bill nothing else are nothing else sells 40000 a month into the the other rally the rap for averages about oats. 38000 a month they're taking a different approaches it relates to services well what they're doing is. These cars will be serviced by technicians that drive to your house in a vein which I do like. That's kind of cool I like the idea that it did you know I I I like that they're doing that. But I I don't think is the beginning of the end and it's a tough question ass but I. How much time do they have and in the stocks down a little bit it's marginally down today. But I'm I'm hearing and we've got a report on GM later I'm hearing reports that GM they're quite paper. It with with tests a little depends on how long people are willing to finance the promise that they have to remember. When you are buying Tesla Stockton you're not buying a car company. You're buying a battery and solar company disguise as a car company the car company is what they used to finance the hole and not so they say hey look we're gonna have all these vehicles this what you want. That's not what the company is okay. Where there longterm vision is it's in batteries it's in. You know battery terminals and things like that. That's where their long term vision its batteries for present 34% cost of electric car. It's I. Is this the beginning of the end protests I don't think so just his Elon Musk. Is one of the great salesman of our time and he's genius. And he's a genius and so. You know for me to say this the beginning of the end that would be a little bit presumptuous on my part because you know he's far smarter than I am but I can't say. This is kind of my fear and in it might mean the tussle stock takes a dip over the next year and a half of they can't deliver. We've all done it. And I'm sure you've done it what am I talking about lending money to a family. People who lend to their relatives end up getting about 57%. Back this according to a new study by lending trap which might lose 50%. The average amount across all generations for people who report having loaned money in their adult life. Is 5022. Dollars and of that an average of 2857. Dollars has been. Repaid. I tend to view of years if your quote loaning money to a family member it's it's a gift don't expect it don't don't expect to be seen that before he's even had a kid don't don't expect a Bakalar gives it just doesn't work like that the average amount of money in it. You we've got the reasons that people. Leave money here moment. I'd down payment on a town home that's 45000. Dollars does the average rule it's mind blowing to me. It that that the the average person is making what these loans loans 45000. Dollars for a down payment to me because you know what happens is a lot of times. At least this is was my situation. My kids had enough money to buy a house but by mind making along to them up they were able to obtain much lower interest rates on their financing. I had problems and it paid. Good luck with Lorena you know. I'd just. I just find it amazing like it just is not that many people have that much money to kick around in a 45000 dollars big chunk of change for people. Debt repaying debt you know that is so kid comes to it most times your kids. That most of the time that you're making an intra family loans. It's to your children debt paying off a debt a decent that was Brothers and sisters at a depth 7500. Is the amount for paying off the debt. It's and home repair right you you don't have an emergency fund. The boiler goes to call the old man answered dad you know I need to replace the firmness average loan for that amount is 5800 dollars. Education. Average amount of loans for education so you're you're go to college. And he thought had all your finances straightened out yet to go to mom and dad you borrow 5300 dollars child care costs. 4600 dollars medical costs. Housing costs 3400 dollar automobile right that's a big a company ties of the funding to the shop he'd gotten a big bill. From the auto dealer right. Food 666. Dollars I thought it interesting in terms of the percentage. Of money. But that's borrowed that gets and ends up getting paid back. So baby boomers pay back 62 point 5%. Of the money borrowed Generation X. Pays back 75%. Of the money borrowed millennial as he did beats. You guys only pay back 54% of the money we've boy had a limited time to pay that phones and that is always an excuse to us all and it's I've ever borrowed money from my parents have never borrowed money from anyone down. I haven't. The percentage of money. Little of loaned money that gets paid back now I'd I'd just we've added that millennia postal if you if you know a leader at this. If you're gonna make a loan to your millennial child or nephew bernese. You have. 54%. Chance of getting paid. House I disagree that that that's where oh lead coming up will be joined by Jack Ewing from the New York Times believe it or not. People are going to jail as a relates to the Volkswagen. Emissions Cain scandal talked to Jack from the New York Times. About who's go to jail and for how long. From the financial exchange radio network. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that aren't. Break here we Berrian just on the financial exchange radio network. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very Armstrong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist C can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services offered to 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 leader bank is offering in east savings account providing free online banking with a one point 15%. 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Security suffered through securities America ain't members finreg SIPC an advisory services arbiters securities America advisors think Gary 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 dot com and search for the station closest to you this is the financial exchange radio network. Okay. It was more than two years ago. When we got news of the Volkswagen. In the nation's emissions cheating scandal in the investigation continues two years later. We're joined now by Jack Ewing from New York Times. Jack who was recently arrested in relation to that scandal. A guy named wolf gotten hot. And he was formerly the head of football development that I would be which of course is part of folks like and then he was later. And Wendell motor development for the oil companies and also had a research and development. Porsche which is another part of footwork. While and dad what was his relationship to the current CEO Matthias Mueller. Well they were both on the baptismal or used to be that kind of Porsche. And so what I was it is. Had a research and development they were both on the management board a portion together. And we know that their paths have crossed many times over the years they both have long careers that. But folks Walken and I in fact crisis. The person that the probably the highest ranking person so far been identified officially a suspect in this case. Because I thought when they're pointed Mueller to be the CEO that it was expected he was very clean and didn't have any involvement in the submissions cheating scandal. I guess we still don't know that he did other venues pretty close to hot. Yeah no one he said that he didn't know anything about it the company has said that many times but certainly. You know at this point tipped police in Germany is so they have more than fifty suspects. We know that it uncovered them are quite high ranking. Bowlers offices have been searched although he has not been identified as a suspect. So you have to table thing is getting pretty close to it and that's affecting number of people that certainly knew him. That he knew very well so. Getting a little harder heart believe that he was totally. Now Potts is in jail and the site I would think he's probably of little Mitt. More pre disposed to testify against others giving that he's incarcerated. Yes I absolutely and no injury that's a big deal especially in the white collar case that somebody in jail and means the first of all the prosecutors. Convinced the judge that is strong case against that's and also that he was either a risk of fleeing. War of obstructing the investigation subway. And now that he's in jail. There's no question that there's for a trust him to testify against others and so that's certainly I think it raises the danger to devote walk significantly and certainly to other people might have been involved in this. Would bet that's what I think a lot of people on no I mean how like it. From your purview how many people are in that inner circle that could have had knowledge of this cheating scandal. But it's clear that you know I think inner circle community even really that doesn't have the right word it was a big circle I mean we we note the police just said fifty people and I had people tell me it was in the hundreds. And this is something that went on for almost a decade involved eleven cars. Several different Volkswagen divisions Parcells all over the world. So that this was real the a very large conspiracy it was just a small group of people that quickly there. Now how many people from Volkswagen. Are in jail today as a result of this. She's not a small number there's two people in United States. Both of whom have pleaded guilty. They just happen to be. And in the US where they could be arrested by the American prosecutors in the goods they they cannot arrest people who were in Germany. In Germany there's two. One as a former engineer Doherty and then the second semester putts. Do you think Mueller ends up you know escaping the hang men's news. Well see I mean I think if the issue is not only criminal culpability but just whether he has the right person to be running folks walk him instantly people that he knew. Were clearly. Under suspicion. But he shows little sign of leaving or resigning and it seems that the company's board is sticking by him. Very good Jack thank you very time we appreciate it. You're very welcome that's Jack Ewing from the New York Times here you think back to the banking scandal. Which was arguably much worse than the admissions scandal. Nobody went to do in 2000. I think that. If it's certainly was worse in terms of its overall facts. I also think those are more difficult crimes for people understand just because it's so opaque here it's very simple let's look you put something on a car that you know made it shows something different where's trying to explain what CDO is to someone. You know it doesn't make sense you know CDS are doing it it just to be up peoples don't understand O'Donnell in a lot of cases so. I do know that against starting last in the DOJ said they were going to be much more aggressive in terms of going after exacts for white collar crime good. I like to think this is the start of it and I think it's something that you should Seymour because that's the only way to do dis incentivized the actual company from doing it because it was only doing it punching stockholders that we do need to punish effort. Hey you know why I mentioned our poll question I didn't mention our poll question we were talking about lending money to family members. Have you ever lent money to a family member yes I have. And Heidi participate apologist go to our website financial exchange showed dot com. To let us know when you've ever made alone to a family members we know that millennia easily checked payback 54% of the time but that's a crew chief. Lennar. I get I grabbed this report just as I think it it's it's the in indicator potentially that may we're gonna see an uptick in housing construction. Lennar beats as home sales and prices jump. Problem with Lennar any of these home builders. That market so darn fragment unity you'll get lost you'll get auto sales rate what was it in the whole world there are. I don't know seven or eight auto manufacturers that comprise probably 90% of the vehicles sold maybe six the comprise. Some nine votes for that visits that China's mortar fragment Marc Anthony think Indy is a fragment markets notes but Elise domestically talk about the US gets you know you've got you know six or seven major companies with some subsidiaries in different brands but that's it. Homebuilders so and are comes out and says yeah we had a great quarter we sold 7500. Homes in the quarter they deserve your Jamaican 2500. A month. And that's like you talk about you know the perverts that are being pulled in you've got an annual possibilities of about one point two million. C should be having about a 100000 new homes constructed every month. They did 2% that they're one of the biggest home built. And that's that's the challenge in trying to figure this darn market you know I eat is because. You know we talk in anecdotal the two clients and friends that work in home construction. And quite knows you know if you talk to some recently the margins of the and you can't make them money and that's what we're not nationals and what percent of millennial would give up this fundamental American right to have their student loans forgiven that's next from the financial exchange radian. Making your Smartphone even smaller here download no mobile lab by surging financial exchange shelf in iTunes or those who. Who played stores this is the financial exchange radio network. 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Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com it's. Juries are for two securities America incorporated member finreg SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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To 900 or email -- BO -- -- bank dot com for more information member FDIC equal housing -- Time now for mostly watch a look at the market's performance so far today until Berrian joke right here on the financial exchange radio network. All markets in positive territory today and joining us now to discuss some of the biggest movers. Mike Armstrong is with us for Wall Street watch my cal Loria. Mike let's talk a little bit about paychecks they came in with a little bit bitter. Earnings for the quarter than people were expecting has the stock movement. Yes there's slightly towards that they'd be very slightly on earnings and revenue but the real news is that it provides and 2018 outlook quick chat there and stating increase their overall revenue by 6% just really strong business growth from that. Stopped about two dollars or about three and a 3% on the news. Tesla down a couple percent trading so far what's what's going all of them. BA you know Wall Street darling here. One must buy this stock but they've been mr. goals pretty significantly. They were trying to build 15100 model three vehicles this quarter and they only managed 260. Some investors are taking it pretty negative look at best and saying you know what is the bottleneck here and wasn't really going to mean for future production stock is off. Nearly five box about 1% snapping trees significant but obviously a big name in the news on a pretty big gap missile some of the deliverables. Very good Mike thanks for the time. Mike Armstrong. 42 million Americans oh a total of hot one point three trillion dollars. In federal student loans according to the Department of Education. Twenty somethings that would be you guys. Pay on average 351. Dollars a month for their student loans. And reports from the Federal Reserve state that the median monthly payment for that age group people Mullen meals he is 203 dollars per month. Yeah it's. I find some of this data about student loans I was uninteresting because we always hear the horror stories about you know oh we've got you know people with a 120000. Dollars in student loans are you know someone was 200000 now more often than not it's not the undergrad -- more often not that you simply went to one of these price you know for profit colleges or grad school but I do find interesting and some of the things that people so that they give up I mean. Median of payment by the way 200 bucks a month you know what I'm not 25 anymore but that's not that much money. You know they eat it you can make 200 dollars a month. On a side game pretty easily with the drive and for Hoover working as a waiter refereeing hockey games is not our and not that tough to make an extra 200 bucks a month that. No but keep in mind that's just to break even. You've got to take you make 600 new paid off three times as fast all all I'm saying is again you have to factor taxes. You know you're not really make it to a ropes and you know all the says the American more fuel I keep seeing more of is the year these ads. For employers. To offer student loan repayment program to be as noticed that it be like it's it's I have thought I think that they do is that is cut salary. It's gratifying is the name of the company now and in their advertising on the business networks. And you'll see them. Promote as an employee benefit. Student loan repayment in a little bit how maybe it's like so if the if comedians fifty Boxee say you know the employer akin. Is it needs 200 dollars the employer might kick in fifty bucks. I just think pick your salary. Yeah they that's that's pretty much what they're doing is they're saying okay we're gonna give you you know an extra 200 bucks there but now you're gonna get 2000 dollars less itself so what would've millennial be willing to sacrifice to get rid of the student we know they'll work a second job. The and we know they won't work more than 35 that's not true more millennial have second jobs and just about any other age group out. The group of up I want evidence degrees. You know a lot of the times he mixed up no he doesn't know very confident that we talked about this like two months ago I have the article right here we talked about it on this show who's the source yes yes source such as Ghana from Bankrate dot com would you it's their party widget the people most likely to have side muscles there was aged eighteen to 26. What did. Because you know why we don't Saturday oh is about what we don't have. We are we can't just do two days ago it was all you lazy millennial you never have a second job right now all you see is that. More colonials have second jobs than any other age group like guns and religion have all the money baby boom pumps aren't I'm no I'm we don't have to I am and I'm so used all if there is so. And easy. Not true ratchet wrong city it wrong and wrong but they're willing to give up their right to vote in order to eliminate actually end up being bad tree regionally guys to vote. I Jack is that fair lightly as they'll vote anyway now. I went what are they giving up Taylor you know that's like asking a vegetarian to give up beef OK great I already did it super 43%. Would be willing to never use a ride sharing app again. In order to have student I I find it rather amazing that more people would rather give up their right to vote in appealed les Hoover yeah like that's like. Perhaps it it's really don't yup and I do not make it just looked at colonials. 42%. Are willing to not travel outside of the United States the listed them as people don't anyways. Get this though it drops all the way down in order to get ready your student loans only 27% of millenniums would be willing to move in their parents surprises that high. And the tea you know what the number is for parents willing to have the ball and you move back in zero satellite minus fifty cents zero yeah. What do you figure your mom's older house Tucker you know why yeah. And I'd make damn sure you'd ever moved back yeah we get the hell out of it she did so kind of you do you spell escape that a I think. Giving up texting is 13%. And. 08% said they'd rather can just pay off the student debt you know. But EF 50% of colonials wouldn't give up their right to vote the next two elections and that which they won't vote and anyways so I guess that makes Texas at a semi once a struck lies. Yes he's lying because it's a widget source center are Communists and legally to Bankrate dot com enjoyed it for yourself and then you can tell me how I'm not so lovely and read. They don't forget about lead but it lies talker always so nasty I'm not. I think to Tucker's very nice a very pleasant. 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Conjures a market for use electric cars here's I I went through like all the things that China is doing to inspire electric cars. One of them is particularly brilliant you guys know how bad the air pollution problems are rate in China. Yet live well around. That pretty much the most polluted cities in the world in India talking you're talking about oh it's inconvenient because it's you know it's like you can't run outside because you'll. All over and I nobody even if you don't run. You've got literally thousands of Chinese people dying every day because of air pollution I have now it is it is reached panic proportion. I have the the list of most polluted cities by particulate matter concentration OK we're OK give us that the top five it spreads going on in China it's Iran India India Saudi Arabia Saudi Arabia for the Tolle those are big oil countries being anything about the refinement that all of us. And you get to like number nine Nicholas China China India India China Saudi Arabia India China China India India Pakistan China China China India Pakistan Pakistan Bangladesh Iran India Uganda China China China India India India Saudi Arabia China India India India and yet China we get. We've yet we mets' top forty I give me twenty dollars he stopped and thought nothing about it I. Might that top 49 point is what what China is doing is saying if you wanna buy car in the Chinese city won the polluted cities. You can't get a license. In light display yet you can buy a car but you can't drive it on the road and boys and lest an electric vehicle. Which. You don't and as incentives go that's pretty much electric car is and couldn't believe that would with the incentives they're pretty cheap 7000 by now. I wonder what they look like. But he is that you Imus if I can post pictures of it what do you do it for 7000 dollars in terms of an electric. Our Colombo let me take a look at this is you know it is decent chance -- thing only has two wheels no doors you know before we go talked about how great 7000 dollar cars are. I wanna do a little bit of research trying to sold. 351000. Electric cars last year that's 50% talker of the global. Electric cars were sold to you look at it in their 700000 cars electric cars sold in the entire world more than half of them were sold in China. Yeah and obviously China sells the it has the highest vehicle sales that of any country in the world now they're doing about thirty million vehicles a year now compared to the US about sixteen million. But China you know realize that they have to make this push towards electric vehicles not just towards electric vehicles. They got shut down coal power plants thinks otherwise is trading one time this month for another what they're doing that and they're here and that they've got that deal with Russia on natural gas and moving towards now I guess the other big thing that they're doing they're investing it hall and of money. Ian renewable right now. Part of the problem is they're due in new part of the problem with the renewables is it's tough for solar panels to work in the smog yeah you know like it's kind of a problem so it's it's gonna be a little bit of a ramp up there. You know a lot of people. You know the the they're concerned about buying an electric car and I and I had this cancer. Because of range anxiety parties say oh what a fight you if I get someplace tactic at home is an arm and a fortress of the my battery China. Only has 156000. Charging stations today. In the year 20/20 they're gonna have four point eight million charging stations. Yet they're making a significant investment on that side as well. Just oh I'm sorry paired these cars are idiots and so. And a community Mary cherry Baird looked at this season on Syria did in the past that are it is it be no it's to build a golf cart. This 10 it is the second with a set a club is a lot like it's crunched up BMW that got hit by a hamster looks like. Cartoon let me tell you China's act one is that that's not even you can't even put a person in there into and things like Burt. Durable this clown car. GM by the way General Motors that. In General Motors that I have seen her. General Motors whose stock I've talked to guys about the past that I happen owned and I'm quite proud of this purchase it's up today dollar 21. They're coming out with twenty. Electric vehicles over the next six years and they're coming out with two more than thirty have the bolt and the volt they're coming out with two more electric vehicles. In the next eighteen months in the United States. And if you read US news and world report there's a reports circulating that General Motors is leading the way in terms of Thomas. I've started to get some data out on the the monthly electric vehicle sales in the war September we start to get those trickling in now via since September so far we're still waiting on actually give it August numbers for August there were 161624. Electric vehicle sales in the US 161000 that is up from 141500. Over the same month previously. So it's about a 15% growth rate there in a pretty much matches up with what we're seeing right now last year 158000. EV sales in the US this year probably in a brown to a house. Once you've driven. In electric car tried to explain this to Jimmy Toledo this morning and stick his Burke. But. Eat the the what you've driven electric car you're not gonna go back to an internal combustion I just tell you that flat out you will not go back to internal combustion. Once you've driven an electric car notes to eat it did drive to added to understand. Coming up will be joined by Nina mishra from Zacks will be talking about two different stocks from the financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center asked me in here. Keep it here with Barry in check for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio network. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from probate and in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's keep a partner with the law firm of Cushing in Dolan and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust in keep your assets safe this month to hundred no brand new guide told designing the perfect income only irrevocable trust in it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come up legally exchange show dot com. 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 with a one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't Dele log on to leader bank dot com get all the information about this great offer and signed 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 online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. For your Medicaid income trusts. Todd you know I keep reading. Almost on a weekly basis about stories worst states are challenging. Durable global trusts and Medicaid applications what's up with the increased scrutiny on these trusts. Yeah the problem is that you know many more and more people maybe are trying to draft him more more lawyers are trying to get into the field that that may be aren't ready but that's the safest way to say it and and they're putting paragraphs and it that just caused problems if you if you wanna put it in English because a crack in the ice yup and allows them to reach in and you know grab those assets from the trust and it's that back paragraph that causes the problem and so they're starting to realize that rather just put states are true yeah. States are saying you know we're gonna we're gonna take a closer look at every one of these trusts and see if there's a way that we can find a crack and that it's well makes sense now. Whipped I would've been. What's the result if you lose if you go to a fair hearing you lose what happens while if you were to lose that the assets basically the assets in the trust that you might have told your clients are going to be protected from the nursing home. Are no longer protected they would be considered too comfortable assets. And exposed to the cost of nursing home care so it's a big deal it is a big if you lose it's all about drafting Mary it's all about making shore. You put the right paragraphs in the trust. Folks if you have a Medicaid income trust you may wanna have it reviewed to make sure that your assets are in fact protected. He can reach out Cushing handled by calling them at 8668485699. If you want to copy. Of the October guy it's about Medicaid income trusts. Most of you choose to download the guide from their website which is legal exchange showed dot com. Legal exchange showed dot com for your copy of Medicaid income trusts. The financial exchange for Berrian judges live on FaceBook and YouTube every morning beginning at ten days is the financial exchange radio network. If you're on the go or you can still keep up with the financial exchange on the I heart radio out available on your phone or tablet. Just search the financial exchange anything here individual segments or full shows if you can't listen live we've got you covered on I heart radio app. Joining us now from Zacks is Nina mishra here to talk about. Couple two yards with us in the if they keep coming on. Mean let's start first with the vanguard dividend appreciation ETF can you talk a little bit about what this ET upholds that and how it operates. Issue. The dividend. The media have abandoned people and then with about he is because. Investors so it's what you. And the pennant general interest environment. About 160. Yet which can be clawed its dividend ET at. And that doesn't there was there was dividend eat yes I'm like the ones they have a is that sports talk. That's have a history of going into it and because these companies which consistently good what did it again. There are usually the companies that on there and achieve them. Strong gust knows. That these strategies a book on all the belong to. And they also provide. You know stability and downside protection giving. Market don't. In addition to going and come scheme but with time. And then didn't eat yet to invest. Usually you know ten minutes as the but no one buys. Dividend needs you what Sharpton trading. The expectations. And also may be important because we've been wrong. Keep the media went on both on the more expensive one. Other things demeaning and that the the one then too which we get talking about two days what will cut them talks meant. Grilling didn't. You mentioned the ban died dividend appreciation on it as a picker. Leave I T it is the more openness dividend you it's cool high quantities talk. That have a history. In could be using bit hesitant. Over the past ten years. And this on highest. An occasion to end up to you and I vote until it up but as. But that's about the important independent scenario. That have been thirtieth are beginning to realize because that ET at that. Focus not on eastern district and when not to do that month but he got guys that. But the Egypt that focused on cook effective. On energy investors. They have a kind to you to do that in the band aid to guys. Particularly if they can't nominee. Continued and who it looks like an hour at yeah. And then I talked about expense issue. This media got it yet. It's been at this point in the and did they didn't use it doesn't look ready they've at two point. 1%. But investors should remember that month and by the thinking at that income gains went. Pool all the time because he's the talks which. Yeah during their dividend and they continue to. They're likely to continue to what it is but in overtime that that. Very good Nina thank you very much of the time we appreciate it. Thank yeah. That is Nina mishra firm Zacks and the two ETF that we are talking about there. The vanguard dividend growth ETF as the ticker BIG. The iShares scored dividend growth ETF as the ticker DG. Our old I was like dividend payers you know leave the deep might lodge kind dividend payers when you talk about me TF for stock. Is it people forget what it's like to go through a stock market correction why we haven't had. Right it was last time we had a bad market 2009. So we become during the last three years somewhat in new movie eat you get to the point we we feel like we're immune well we're complacent are. You know we just think partially it yeah it can never go down again and that's usually goes down why. The my point is on a dividend Payer you might see your stock that it typically a dividend payers less Walton not always but typically. So you might see your stock these General Motors is an example. For years I'd buy that parenting truck and who go between thirty and 35 dollars a share now rate would drop down to thirty and buy some more. But so it would stay in that range it would drive me not to go from 35 down 33% of net beatle what. Those get my dividend dividend on it was like 45% that we always in. Especially if it is a company that you field does have a good long term growth path you're just not sure when it's gonna hit there that dividend can give you a little bit of you know money into the portfolio while you're waiting for the growth to take away. Don't forget to participate in our poll have you ever lent money. To failing them right for the word you were loaned money to a family member. That's our poll question go to financial exchange showed dot com. That there inch. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Maverick DNC equal housing lender and -- number 449250. Subjective credit approval leader bank a step ahead and he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every Don about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we're looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and have offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com security -- securities America incorporated member of an SN BC and advisory service is offered security Tamara. Guide to retirement planning it's really important that you do this before you retire. When I talk about two things that are critical aspects of retirement and that would be Social Security first and secondly Medicare it's your Medicare supplement programs in your Medicare part B program. You know let's talk a little bit about Social Security everyone knows that you've been paying in these programs really for most your lives if you've been working. But there are a lot of questions about when you should take Social Security in the first thing that you need to understand. Is a concept called full retirement age and that age differs depending on when you were born as an example. If you were born in 1942. Your sports harmony age 65 years and ten months you born in 57 it's 66 years in six months so you have to understand this as well as how your Social Security about changes based on how long you wait. Right the other thing that you should do is take a look at our guide again again at stake in the guide for retirement readiness. Exclusively available from Armstrong advisory group. But as it relates to Medicare. Each state we've listed on the in the guide each state and the web site that you go to for each state to calculate your Medicare program in which what's best for you. Yet differs depending on the different states and you really need to be cognizant of this when you're building your retirement plan. Well the folks again. Just to reiterate this guide is available exclusively from our strong advisory group it's called an investor's guide to retirement readiness. You can receive the guide by going to our web site Armstrong advisory group dot com only available on line. Armstrong advisory group dot com. Go to now Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America 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 back a step ahead. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from probate and in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's. That's right the only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed dot com legal exchange show 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 in 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 -- bank is offering in -- 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 -- 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 -- -- a step ahead. In new. This is the financial exchange with Barry Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day use. Leave your world and stay informed and up today to promote economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chuck son. Why does the stock market continued to rally well today may have something to do with automobile sales they came in. Very strong General Motors and Ford beating expectations. And the result is the Dow is up 62 point oh hi everybody it's Berrian truck with you here. An interesting day of trading. Dow continues to rallies dimension of 62 S&P up one NASDAQ up four right now oil. Down about ten cents to 5048. Gold right now 1276. A little bit of a bump they're not much. Ten year treasury still 2.3 three pretty much where it in the last couple days so. Overall pretty quiet market little bit of a rally in blue chips and small rally at airline stocks happening today as well. Tells me that they're expecting a strong earnings report season which starts next week. Coming up soon it's hard to believe back to that point guard now jobs report coming out on Friday lots to look forward to here on the financial exchange. NFL owners clash in pride it over the protests this. Had to be an uninteresting meeting there is a meeting last week in New York City. Wasn't very well publicized. But you had some key players in leadership roles and you had owners in New York talking about the protests and I I don't know what you your action you guys are a lot more wired into the NFL than I am but. If I'm an owner from Bob Kraft right and Bob EU like them or hate him. He's a businessman. And I suspect he went to new York and said look. You asking continue to protest a few in talking to the players but it's gonna cost you millions and millions if not billions in south. Well and I think this is you know with with all of these things whether you're talking about. How they're handling this all the stuff you know last fall where was stores report a bucket trumps line of clothing the stuff put the target boycotts a couple years ago. This is the this seemed like it was a little corporate accounts all on. Oh where I was going with this is. Any business owner the last thing that they want to do is jump in the controversy because anytime you have to take a side on an issue than. You end up alienating potentially some your customer base what you think about who watches football right be a lot of it is the first falls. Vast majority this man crew what is what is. Football viewership 8090% mentally somewhere that seven the united percent yup and what percent would be conservative trump supporting me. Big chunk probably did so I'd say it's a majority don't think it's as strong as you think though now. Regardless I think what happened was the owners. Went to new York and said look guys if we don't if we if we don't get through this right if we don't cut back on these protests. It's gonna be because they split basically the way the NFL works as I understand it. Is the Doug gross revenues richer multiple billions of dollars like is that what's your TV deal per year multiple. It is yeah I mean that there there estimated to do I think somewhere in the range of like went to 425 billion in revenue this year the holy I think so let me on this if I can pull up figures and just so you know. The players get half of in in the form of contract that's what they are their caps are based in ansari was a little high it's going to be about fifteen billion us. So fifteen billion dollars total revenue for the NFL yeah right so the players get seven and a half billion. So I think DeVon according may have said hey guys. We can protest but that fifteen billions can quickly become thirteen 10000000111000000009. Billion. And that multimillion dollar contract they got those last go around could be reduced I think that's probably part of it it might in my being. Too cynical. No I think that was a big part of the conversation I think another part probably is I'm sure that you had an awful lot of players who says probably initially said. I don't care and until they say they did the math. No I'm sure even after the Matheson I'd okay lake again they put like players have seen what's happened Billick told tapper via who can't get a job lately they've seen okay this could cost me an awful lot of money. My guess is what the owners probably ended up doing is they said look help us out on this in will find some way that we can support your cause off the field. Otherwise you're knocking me you're not gonna get the kind of you know cohesion that you did last weekend when you only had a handful players mile for the amp what did you say the NFL with 70% black. 271 yes something I guess yeah in that ballpark. Well. I'll tell you one thing we did see last weekend was a big jump. In ratings for week four NFL coverage at least on fox and I'll I'll tell you this the other fox a week for game in netted a 126 rating in 26 year which is 14% increase over week for what game was that. That was the rams cowboys game I believe be game you get too big markets too and so what's what's interesting here. Best part about that game was that the cowboys lost you know I cheer for the patriots and anybody playing against the countless. He's taped. Tedious but in another BAA not right now based Freddie don't even care that I told you but I just about it. I think you know I had said that I thought you might get a couple weeks where you know people didn't tune in in this and that just and then eventually you know kind of excited to finally did come back. There are they. Yeah you might have some people who do but it's a small fry like how many people say oh yeah I'm gonna quit football again. I saw people on Twitter to a week ago it's at I'm never watching the game and then all of a sudden that's the next weekend they're saying well what a great pass from Brady unlike. Did you did you cause you to call about. Now I can Twitter is a cesspool would normally I don't wanna wade into that crap he's afraid. Does one dog and some martian know I'm I'm Smart I don't waste my time deal with that crap on Twitter. Get ready folks of the Puerto Rican kids are common to a school near you. You know the couple the cities that are gonna see huge influx in Puerto Rican students coming to their cities will be Boston. And Hartford Connecticut leader. Yet and pretty much you're going to see it could be you know hundreds of thousands of children that end up being moved out for the upcoming school essay upcoming for the school year now in progress just because they can't be school down in Puerto Rico right now you don't have power you don't have water you don't have anything at the schools I talked. A family last week and they are leaving is not Puerto Rico but sinkhole which is the same territory here. And they're leaving because. They don't have any confidence in the government's ability to get the roads and electricity backs of their their packing up shop I don't know how Puerto Rican officials are saying that schools to be open by October 16 without electricity like how we gonna do that their life. Their line they they're just saying that to try to stop the exodus because the remember when you have an exodus like this. It's it's it's it's the people the people who leave the ones you don't want to leave. Right is that went with means and the skills they have money. And they have they get good at something you know like let's let's just say you're registered nurse in Puerto Rico. And you're living without fresh water you're living without electricity. And you're living in a very dangerous environment where crime is is is increasing with because of the looting in the lack of that the lawlessness. See you're registered nurse or you're truck driver. You know you're you're you're trades and your doctor your lawyer why would you stay. In Puerto Rico. What why wouldn't you get out you can afford it did that take yet 300 bucks in the checking account you get out. Eagle live with your sister in Boston you go live with your cousin in Hartford. And you send your kids to school had a problem they're gonna half they did the big challenge there and happens these cities Hartford's broke it that Arab Rupert more kids. And these cities are gonna all the sudden get an influx of students. And there's no increase in the property tax base. It is not like all the sudden right here you they're gonna more tax money company right. It's no it's it's it's gonna be a challenge for a lot of these these schools to you know take care of these kids is because they don't get a funding increase as you mentioned so. All the happens you say okay out we take our already stretched budget. And add you know if you've got you know another ten kids coming in his school has you know 25300. Kids it's like OK now we've got to cover next 3%. We don't even have 3% in the budget now to spare me the is just gonna be more. Crowded classrooms not gonna hire more teachers metric and Prosser the president is in fact heading to Puerto Rico today. I think a lot of people are hoping. That I don't want people of Puerto Rico are hoping that he'll look at the devastation. And dad he even more resources. To the cause of fixing it up. I again I would warn the president. Bet you have to be judicious in the way you dole out the aid if you just give them a blank check. I promise you Mr. President we will steal the you've got to be it's got you have to have. Judicious oversight on programs like this it's not like giving money to Houston it's not like giving money to Florida it's different when you're giving money to the territory. Don't to this point most of it's been dedicated and doled out to FEMA and so it's it's staying within a federal emergency and I would expect that that's what you continue to see. An and just because we've seen the mismanagement on Puerto Rico over the last decade it's now lets them kind of being. In a situation where they get 73 billion dollars in debt and at this point they can't dig themselves out. Well that's the differences in between. Puerto Rico and Houston in Puerto Rico and Florida. Florida. In Houston can borrow money. They can't Puerto Rico can't and and in part of that. What you see that those mismanagement. When he's out and as you do have a massive need for federal funds and just because they can't dig themselves out at this point is no want to Keeneland to Puerto Rico late. If if the situation importer is bad previously it's horrific now from a financial perspective when they figure I thought the number would be larger than they had some experts analyze how many people are gonna leave Puerto Rico I thought it could be half a million people the same to be 200000. And that was just kids. It's it's going to be a lot at that and of leaving but it's still there you know the from a humanitarian standpoint. Yeah it's going to be front page you're gonna have if if they don't get on this quickly if they let this just continued to slide. You're gonna have thousands of American citizens dying. You like they are doing we just don't know yet like I've. I've heard reports from people who were down there that you have entire you know you have people that just hospitals that were wiped out because they they lost their power everyone in intensive care unit and I actually gets. What we hear coming out the next month is going to be some of the most terrific stuff that we heard. Coming operated talk about shake shack there going well that you they've got a different business model that will tell you about when we return to the financial exchange radio network. Markets continue to fluctuate but we've John you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. Are you financial advisor who lacks the formal succession plan you're not alone according to investment news 43%. -- financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both our -- and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934. Zeros -- one that's 803934001. Or visit us online at Armstrong. Advisory group dot com securities are free to securities America incorporated member Finneran SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. If you're in the market for a small business loan you need to call leader bank if your small business looking to expander improved your infrastructure you need to take advantage of this great deal from leader bank. For a limited time your business can get an SBA loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and ad rate is locked for four years in a democratic rating of 700 and give you an answer within ten days of receiving your completed application. This is the number you need to call 8776917900. That's 8776917900. Take advantage of this great offer from leader bank a four year fixed rate loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and you'll hear from them within ten days of receiving your application 8776917900. Call right now 8776917900. Member FDIC. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Unaffiliated 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 -- 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 is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't Dele log on 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 its leader bank dot com leader bank a step ahead. The financial exchanges line on FaceBook and YouTube watch Barry and Joseph discuss the issues of the day and see which one smiles the most. Taste is the financial exchange radio network. We do like to learn how you can earned two point 05%. Annual percentage yield and is Juba rewards account. Go to leader Bangkok com. You know earn up to two point 05% on account balances up to 50000 dollars. Leader bank dot com or call the tool free 8776917. B 900. So shake shack going kiosk only in New York City they're opening a location where there'll be from what I understand. No cashier. Yet studio location and Astor place in on New York City and document cashier's counter and so all orders are gonna have to be placed either on kiosks or via phone okay of Smartphone through now. But they are gonna have. Hospitality champs Manning these kiosks which. I always am amazed at the dom terms that companies come up with Tillie talk about like their you don't tell somebody you're hiring you know some kids using college. You could be. You know he's going to be customers are for sure yet but essential so let's say that you're the guy who's we are ready schmuck or would you rather be. Would you call. Hospitality champ now address that and I couldn't put that on a resonant now it's Tucker you and your that I truck. Or hospitality and put hospitality champ on horizon. Struck schmuck like that again like I I've been a cashier so I I kind of know how the they tell the food's very. How text. Elliott you know you know because you these dead but big bouncers you know eight days here as a hairstyle. It good Cheesecake Factory is Afro yeah a lot of putts under different places do. To edit the text you when you lose you don't have seen a lot of places doing not not necessarily fast food or anything like that restaurants let's say that you walk into place there's like twenty minute wait. Bill says OK just gives you phone them world text you when yours you're ready to go and that way you don't have to sit around the restaurant you can go outside walk around do other things lightweight and would you do. Well notes that of like sitting around lake. If if it's like a twenty minute wait instead of just sitting in the restaurant when your thumbs exempt him and go you know next door you know run some errands when. TF green finished their report ran. It daisies expanded the runway yeah this is a a runway extension. That has been. Twenty years in the making right now everybody brought in that new airport. From new world yet this is a part of me 250. Million dollar airport improvement project. And we've talked about how Rhode Island has you know made some pretty big strides. In improving the business climate there and also. Just to tee of green in the last years so they've done some pretty significant things try to get more flights coming through and so this now will allow them to accommodate. Some awesome larger planes that can take some law longer range nonstop flights some more international routes and things along those lines and so. I think overall it's another positive for Rhode Island Wall Street Journal is for it. Hits Connecticut cities and towns on Monday forcing them to freeze spending and consider. Tax increases as the state moves into its fourth month without a budget. But say there's one other thing you're gonna have to do they have to fire teachers there have to fire cops and they have to fire. Firefighters state employees are gonna lose their job in Connecticut. Because he's no appetite and I can promise you. He's no appetite these towns for tax increases. Wonder if they end up going to. Forty school weeks. Well. His kids had to do that because of their budget problems able Kansas has eleven districts that went to a four day school week is they couldn't afford and it's a disaster in its terror it's a disaster it's a complete anytime don't strike that it has worked out terrible for the kids. Yeah it's it is not good and so Oklahoma as well has they've gone to some forty weeks in in. Part of the state there as well. But I wouldn't be surprised if some some cities in Connecticut have to consider doing that just as is the nature of the budget problems. Homeowners could he help ease the city's rental. Crutches is a stories on today's Boston Globe. And the city recognizing that rents are getting out of control with C ever dressed like 2300 bucks a month in there were talking Boston Boston. If you're talking in Boston yet probably in that ballpark about one point 365 a month. I saw the thing that I always tell people that's not not not deductible you don't have to live in Boston in. But they liked. With my daughter she won a magnificent I don't they like to vote like we can't complain about millennial spewing entitlements they well they can do whatever they want. Well let's unit that's your view that you're the millennial money. Now be used as your call anomaly and I know. I feel a hairdo that tiger he is on the sort. Turn over power anyway by my point is that here at the programs at the consider. One program it's already a pilot stage. Would match older homeowners who have spare bedrooms with a graduate students. Good luck I look. You know what I'll tell you what year your seven year old widow or would or. And you've got a four bedroom house. And money's tight and diesel oftentimes merge the type of little grad students you don't wanna live with them for seven they're trying to try. And the other proposal. Is to allow residents to build additional dwelling units within the footprint of their home that they could rent out without having to go through the zoning permits some pretty much just trying to go up. In a sense of fear got a double Decker reading on third and maybe adding kitchen you know things like that is that's that if say you had. A and double Decker how your that would that we're taught writes he says okay I'm gonna take what's right now just standalone single family turning into too bad or does your family yeah. I look at it and I thought I'd like this idea that makes more sense to me than trying to set up seven year old with 25 year old day in nearly seven year olds are more opinions. In the near and they ended there I've I've lived with grad students now they're bad it's unless you're talking like Ph.D. students who were actually really Smart like I've lived with guys getting there you know BO NBA and stuff like that there and it's harder to your party apart like. It's it's not good in that somebody's parent is paying 440000. Dollars you know. Nice millionaire's tax initiative is going to get a supreme judicial court challenge. Some jokes in Massachusetts thought it would be good idea institute a 4% tax. On top of the 5% tax that. People earning a million dollars firm in the commonwealth. This is going to be disaster for several past recent polling on. They'll have not that I'd be curious it probably polls very high price 60% approval and see if I can dig anything up here let's see now be the beginning of the end they'll. You know is going to be you know. Connecticut park to that in Massachusetts will become Connecticut if they do is difference with the difference all the education via for a Boston. Be a lot of education and connect not much yet New York City is it's a bedroom community it's not as much I still think this. 4% to steep hike terrible notes for guitar and a golden nine point 1% on the state level if you're above a million dollars now we dues you just chase the lake and it's a you're million dollar earner in your hedge fund. But he just say while I just moved my operation new Portsmouth New Hampshire's nice. It's I just I you know I look at this and what I would do. The other New Hampshire so faster had that the here's the other question about this you know you've got Amazon looked grounded boss now wonder right is something that scared absolutely. You know he's talking about an awful lot of highly compensated employees coming in there Liberty Mutual you know about Liberty Mutual. About all the guys out there in years yet they've got a lot of guys making millions millions. Will be back when we talk about whole foods when we returned the financial city's radio network. You've got burial. Strong financial exchange a look I mean she'll exchange radio network. 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 not guaranteed by the bank and may go down in value leader back a step ahead. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Security -- for the securities America incorporated -- -- SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from probate and in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's keep a partner with the law firm of Cushing in dole and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month and has written a brand new guide called designing the perfect income only irrevocable trust in it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come up. Legal exchange show dot com. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of round date with zero liter banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. Very Armstrong here and I'm joined by vice president GA tool. From leader bank. We're talking about zero rent this is exciting because Z rent is a method for landlords to collect their rent electronically. But there's now find it refining Jane that it's been widely adopted by Condo associations tell everybody was he rented. All right so easy rent is a product we innovative leader being. Comedy can be found it www. Europe dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronic and it's. So there's several advantages first in saying goodbye to being reliant on the use Postal Service. Goodbye to delays in the mail and no more need for paper check right where Israel and a lot of millennial Estonian have a check we're getting that all the time lame or will call in and sign up because his tendon saying you didn't check the where this really starts to get funnies when you your landlord in you have. Multiple tenants living in units grad students the university. 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But questions remain about whether or correction is coming. We've got you covered every day with the what's not and what's not from Michael Armstrong. Mornings at 1030 only on the financial exchange radio network. If you had to choose between whole foods. And Trader Joe's worked time's right get out of work it's 5 o'clock. The white policy and says honey can you pick ups of the Virginia where would you rather go would you rather go to whole foods or Trader Joe's wheel turns out almost 10%. A regular Trader Joe's customers defected. To whole foods. Each day the first week after the Amazon acquisition I was quite surprised. Yeah and even after the the first week you're still seeing about a 6% defection rate from Trader Joe's over. To whole foods and so it's adjusting to see. That they're certainly being impacted their other companies that are seeing an impact sprouts has definitely seen. About 5% of people move over target is seen a couple percent cost go about 1% that was one of the big questions we had is this does you know this move take away. Some Costco shoppers as it's similar business small do you think it's a permanent transition or temporary migration. Too early to total likely temporary I think it's probably something that disappears after the next 45 weeks I think a lot of people. Probably go insane of Gail tries out for couple weeks if it neo meets my needs my my bills or any lower. But I think a lot of people probably and moving back. Just because the other comfortable with that typically people were going to the closest place anyway that's ours and asked don't you usually go lately. Somebody would say well I'd like acquaintances store did people rave about way is the best while but I would drive adamantly goat. Right depends on what kind of shopping you're doing some people say lie like market basket market passes by fear and I would drive an extra. Two miles to the market here's the one thing though you would drive out of your way to avoid a whole foods previously because the cost is to line. I think a lot of people might not do that animates prices to below maybe a check it out maybe is closer and I I question how much will they really are how much lower they actually they've they've done a lot lower I've looked I went into a couple just to kind of see what things I just want to see what they looked like. I haven't bought anything in the you know and and data that's one of what I've gone over there yet and they're definitely lowered prices is OK it's not enough. To get below what I'm spending right now and she would think whole foods is good prepared foods compared Trader Joe's you don't see that toss I'm close at a Trader Joe's I'm a whole foods you can go with talker like to get his burritos wegmans pro as the best whole best prepared foods out there I've got tried to give lake. So you walk in. And it's it's like a space the size of a football field in you bike like Jenner. Nice dinner there does that lead he gets an a for the next for the and for a month and not run out of things to yet who would be great. If he had a store like that. That would deliver a prepared meal to your house. Like wait that's called a restaurant. So that you deliver that's that's gets help well just wanted to what article and we all take out you don't have that glad that there's a difference being taken to locate it's called delivery funny I don't play a place that deliver around like. You're asking for restaurant. But I like the stuff in the first love but but that's it they'll rescue presumably cook you food delivered at a restaurant. That is arrest or how we can legally in my town we have like three restaurant I should will and and I don't think that's about rock and I have the right to comply. And over it that you're deflating initially that's when that's like someone like going into issues stored being like oh I wish that lake they had exercise machines here let's Jim. The Diaz note that 44%. Of the Las Vegas area's workforce is in the tourism industry. Express not hire 44%. Presence in my little low. A little bit does casinos appoint a ton of people walk. Anyway ordered that includes workers. It's beneath the I would do it would prostitutes count towards terrorism. Shark or or the locals what. What's the definition of tourism. Anyway. Do you what do you think the impact will be of the shooting in Vegas is nothing on these two hours nothing. Not even a little. Now I don't think it touches it. You'll go like some of the other than you know than the other big attacks that we've had the big shootings and things like that you think about Boston after the marathon bombing in some. Didn't have any change there think about Orlando after the nightclub shooting new year ago haven't had any you know it's down at Disney toon and I I think you're going to see a shift in maybe the types of events that are held out of there's been a lot of chatter. That you might not see outside events that are right next to tall buildings because of the new security threat that potentially. Has out there but I don't think that you see an overall change in you know where people go just because. Again it in the end of the day you have to go where the facilities are for what you need. Las Vegas has a huge convention mark when you talk about keynote all kinds different convince. I don't convention capital of the country. Right I would imagine Anna Mae and the world and yet so I I I just think that. You might built for Taurus you might see some movement around the the margins and things like that but overall. Not a change in vision plan these things can happen here relative like this if this guy down the street from you is if you go to Vegas for bachelor party in November 2 Melamine a go it puts it could if you say okay we're knocking go to Vegas we'll go to new worlds and Stanton is gonna happen in the world that this stuff to happen anywhere it's not location specific. They during the month of September Armstrong advisory group is giving away an investor's guide to your retirement readiness. Do you have a health insurance plan or do you need to apply for Medicare. Do you have a Social Security claiming strategy. Those are just a couple of topics that are covered in the Armstrong advisory group investor's guide to retirement readiness. If you would like a copy of the guide he can't call and get one it's only available on line. Good Armstrong advisory group dot com that's Armstrong. Advisory group dot com. To download your guide an investor's guide to retirement readiness our strong advisory group 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. Some more advice from your uncle Barry do not paid bank fees period you know paid good advice. ATM fees and things like that as you talk about their they're going through the roof I can't believe what people are paying for these fees average ATM surcharge right now is up to lock two dollars and 97 cents that's freezing and out of network ATM. The average ATM fees for out of network V is up to ones and the twos and that's what your own bank charges you if you use someone else's ATM an additional they're charging you. And oh it really gone up like they Kosovo bounced check error overdraft whom I guess watery. Don't do that they. To be fair they kind of showed why nobody really for overdraft lake look at your account before you buy something and it's amazing to meet. How many people need these all it is how the bank's leverage does it there's no more net interest margin. If you're in the banking business in order dock in the knee and is goal. It and I will save banks did they use some pretty. Unseemly things on this files as situations where so the bank charges and overdraft fee. But then that feed triggers another overdraft fee and all of a sudden you sit there and nearly now a paid seventy dollars to that went to sense over on my balance which is why. Watch what you have in your caller's just always keep extra money in your bank amused it sounds easy in and you're thinking like don't have any instrument will get sucked in a second job gets an extra money putting your bank account forget about it don't these damn piece is just unbelievable down the it's it's it's amazingly I think the average person in a given year spent some morally. Sixty dollars on bank fees now. So he gets his money that you're giving away. Investor optimism is on the rise. And I'll tell you what I get nervous when investors in optimist. Yet typically when when you have investors liking pessimism when investors think that nothing can go wrong and that's when he of the furthest ball and you have big crashes is that what happens is all the all the novices. Coming because they set line got a tip from the guy in my shoeshine. As I was getting my groceries and the guy bagging groceries told me action by this stuff is that might be a problem yet it's. The classic example this was in the tech bubble where it was EMI cab driver told me about is great tech stock you sit there and go and personal to me New York cab driver second if you get your stock tips from cabbies. Things have gone off the deep end Jeff Immelt stepping down gee he's out completely two months ahead of schedule here and he is another gig is that way left and pretty just that he wanted to get out of the way colds a season as early sixties. Late fifties early sixties not an old courses and 58 a look at you know what what has been kind of pushing things along I wouldn't be surprised feeds is trying to set a look we don't need to hear anymore while he's 61 get out of town now he was up for that her job he didn't yet I think he's probably law. He maybe thanking his lucky stars of all of this call attic stuff continues to swirl around the board seats in the economic in his job he's he's no he's not I. I think Jeff probably has one more you can front of him in a 61 you say okay to do something else for another 57 years then you're seventies all that money is no light while investors like it. Some guys just like it you know especially what's interesting. It will never worked for another company. That he's been there since 198235. Years in one place. He's he's he's never been anywhere else you guys have you guys ever heard of a roving retirement. I have not to new term among baby boomers. A cracked roving retirement that's or to talk about next with Dan pressure from international. Living to new. Lifestyle. For baby boomers that's next from the financial exchange radio network. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. 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 Betty 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 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 its leader bank dot com leader bank a step ahead. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from probate and in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's giddy up partner with the law firm of Cushing in -- and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust in keep your assets safe this month to hundred no brand new guide called designing the perfect income only irrevocable trust in it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. 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There's a new term. For baby boomers it's called roving retirement. We're joined by Dan pressure from international living to explain that term Dan welcome to the show. Are you you're good so rule being retirement what is this whole thing all about. Well Hewitt essentially inspector retiring in place one place. You pick one or two beautiful place this number on the planet and just kind of become a citizen of the world and road between those places. Sounds appealing those Sundays more than others what's the typical what does it cost. To live this roving retirement lifestyle you've studied people that are doing it have been doing it for years. Yeah it it. Pretty much depends on how you do it more your personal financial situation has banned all the benefits. And that they beat the you'd get from living in a place. Worth the cost of living is lower than where you're currently living now they'll buy it that you lived part time in. Spoke at a Panama Maurer code Akashi Ecuador. Or someplace in Mexico. If that cost of living is lower than where you'd have you enjoyed those savings over what he would. We're hiring in place and you can choose to return of those places. And two spend your retirement and if you want and you enjoy the savings in all three of those places. So how much what I need to live comfortably in Panama or Ecuador for six months. They're very different places and it depends on where you live in the country or in the heat from my experience is that if you're enjoying it income anywhere between. 181252600. Dollars US a month. Are you to have a very comfortable light in either of those ways is infected dozens of places throughout Latin America even Europe and southeast Asia. So these boomers that are living the roving retirement and are they selling their primary residence and just living out of a suitcase literally. Well again it depends I mean if you own a property that you could turn into source of income. Then that you can turn it into a bed and breakfast while you're there put at all. They're being in the hole boy turned into income stream. If you want to. Sell that property just. Live on the road where it all went up when the numbers that may be very cost effective it is when you get from selling a property. May provide. You placed salute for decades and in somewhere over there where the cost of living is lower. What do you do about health care they'll. You know like if you're. Sixty years old. You may need regular health care DJ your health care and Ecuador or do you fly back and get your health care back stateside. Expects to a lot of different things. Some of them combined. They side or Canadian. Healthcare withheld or on the ground out of pocket costs are generally. Much much slower especially in Latin America so if you don't need regular insurance that your Goodell and out of Arctic it. Huge amounts of money or you may want to spend six months or more in one particular place. Quote I resident visa didn't take advantage of the national health care system there which is perfectly possible in many of these place. So which what are some of the cheap countries to live and fight if I'm on a low budget let's say my pensions three or four grand a month with everything all in. Where can I live on three or 4000 bucks a month. There goes a long long way in Ecuador Ecuador's one of the best bang for our. Countries that I had ever lived. There are lots of places in Mexico worked extremely affordable. To liberate now especially with the current exchange rate. Almost anywhere in Latin America. We'll be much cheaper than it is to live in the United States or Canada. Apples to apples oranges to oranges. What about Vietnam I think I read some about Vietnam being affordable. The Vietnam and most of southeast Asia. You even cheaper than Latin America then you have the disadvantage of not being able to get back quickly at you like them back Combs and gambling take a little longer to get back from their. You also have the disadvantage of not having no romance language. Alerted to order a second language debt to get. Get help with or in some ties or some Vietnamese or some Cambodian. But. It really is extremely portable toilet and southeast Asia. You mentioned something in the article about transition cruises. The media had an archer. In and how you are in December Bonnie I've. That particular. Yeah I've never taken one myself. But the people that are to that app and find them a great way to get from place the place and actually get them on the ground. Without pay a lot of money wouldn't. If you wanna take a look at a particular area that it all by crucial that sometimes the crucial as well we'll actually let you board. And if you have cut away for just accompanying mission to a new portal called boot the shipped overseas and they're the they're very economical ways to take advantage. Of the cruising lifestyle and see what life is like some of the most affordable place on the planet especially in. Europe you know is gonna go to Europe and check out Portugal for southern Italy. The transition crews that way to do it. And then you mentioned that a lot of these roving retirees are using air BNB and home away. That's correct and again if you have home of your own our own Condo. There you can quit in European be you can do on exchanges. It get a return. On your investment for that property while you're away. The Internet has changed everything about that it candlelight beat Hooper of homeownership as. If you get on air B&B or all the way to on the Egypt has somebody's injured as well you're gone. Just turn into an income stream you don't even though. Bedard Bedard well Dan thank you or pressure time we appreciate it. I. Dan pressure international living. We uniquely to retire C don't you know by a retirement home in Florida yup. You just say you know let's go to who Ecuador for the winter let's go to Vietnam for for the summer series you know it. You do and you go for three months six months to kind of a cool idea I mean there's so many different places that you can go in as you know as Dan said. Cost a lot of these places significantly lower than what he'd spend in the last southeast Asia less than go to Mexico right Mexico's cheap now you know yes I size I was looking at these in these definitely. Three grand a month. In answer to retire the rents for 500 bucks. For the month and then they're they're you know they're they're notch good tourist restaurants or eating at local restaurants using the dues they don't stay in Paris. They might stay in Lille. It only you don't go to the big cities yes sir very acting like stuff. They wanna thank you for tuning in this hour of the financial exchange. The Dow's up 78 points oil's trading down fourteen cents per barrel nasdaq's up a point. It's very in shock from the financial exchange radio now.