Oct 12, 2017|
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'll soon be your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Berry Armstrong and chuck Exxon. President Donald Trump is planning to sign an executive order on Thursday. To initiate the unwinding of the affordable care to an effective may have already done so. Paving the way for sweeping changes to health insurance regulations by instructing agencies. To allow the sale of less comprehensive. Health plans to expand hi everybody it's variant shock. Talking about. Potentially the unwinding of the affordable care. Yet the details I think where are still ticked column as far as exactly what we may see out of this executive order and and to be honest it's the kind of thing that may end up being tied up in court for the foreseeable future. If if in fact it does house so it's if a kidney just issue an executive order in. Boom it's done now. Well depends on the constitutionality of the order you know there's certain things that you can't do as president there's certain things that congress is required to do right now congress failed for congress got nothing done on health care direct congress didn't do anything and so the question is there. You know if some of these things amount to changes as far as. You know funding levels and things along those lines. Those are things that you can't really do as the executive branch there's certain things that have to be left to congress it's how we develop the separation of powers and and so remains to be seen exactly what we end up. Seeing out of this but what we're talking about. As far as what is likely to be in this executive were. Arson changes that allow. Certain types of health plans to. Offer more bare bones coverage as opposed to the requirements of the Affordable Care Act would be essential health benefits that are required there yeah yeah and that was what was gonna. Potentially benefit. Many consumers radio lot of consumers would win based on this because they wouldn't have to buy. You know the the plans that are Lleyton with the benefits that they don't want. Word will never uses so consumers potentially win from a cost or I up they potentially you lose pretty badly. From the perspective of actually having insurance that provides insurance so. Who the winners and the losers in this scenario right I mean the obvious losers were anybody that Wear. Was if you're older you're unhealthy you lose simple. It it older sick you you're you're losing and does this explain why because I think a lot of people are gonna say. Is that that's not being I I don't think that's being parked properly. Discussed in terms of why old sick people would really get. Get hurt us well so what this and again we we don't have a ton of detail now so remains to be seen exactly what we're going again. But effectively they're two changes one is as I mentioned. Potentially allowing certain health plans to waive those essential benefits and provide more bare bones coverage. But also. Expanding access to what they call association plans that would then have them more bear that bear bones coverage and it sounded very appealing to a small business. And probably not the employee Craig thank you hear it. This is the problem is everyone wants. Cheap insurance that covers everything you can't happen it doesn't exist. And so what you are likely to see out of this is that anyone who is healthier thinks of themselves healthy. Gonna likely try to move towards these more bare bone coverage plans. Which could reduce their cost significantly there's no doubt about that so you're thirty year old independent contractor of any kind rate forty year old independent contractor. And you might feel deceived. A significant amount of money we pay for health insurance today right yes that that that's the given. If if you are on your own okay so again most of the supplies the private market. The average company this doesn't change hole one of you worked for IBM doesn't change anything you work for Verizon doesn't change anything related to. Your costs are going down let's say your truck driver. You own your own rate right you're forty years old. And in your. You have to buy now you know you use your buying insurance coverage through the Affordable Care Act exchanged what you'll see is you'll be able to in certain situations moving to some of these less expensive plants and okay and you'll likely see most healthy people do. If you're sick or truck if you are someone who is unhealthy you diabetic you could potentially see massive cost increases and the problem is. If here's where we get into kind of a conversation about how people think about insurance news you always think it's not going to happen to okay. People are notoriously bad. At identifying and trying to figure out what risks they're under when it comes to health insurance Simmons as volatile unhealthy is cool yeah you are health these knobs until you're not. I've been good body mind. Talked about this before good health rugby player him look the part of late and you either put in GQ lately. He had a heart attack at age 29 yesterday and it was because of a genetic defects if he did not know we had and if he had bare bones insurance coverage. Aides probably would have been covered for all the treatment that he needed him in beat beyond that. You talk about him trying to get insurance afterwards is okay. Good luck I've another good buddy of mine who has two kids down in the DC area PO OK one of them through no fault zone with border with one kid and being bored when cutie is a pre existing condition dramatically increases the cost of your insurance so what do you do with sick people. In in a scenario like this this plan is saying that you put them off to the side and say we don't wanna deal. That beat you you have to deal it's a G I today I okay if you rolled in a if you're sick eve candlelight Medicare being nick how do you. You can't just. Take seven million people ten million people tell them. You know they're going to be pain 5000 dollars a month for health and that's what this is doing now I know it definitely would sit there has to be better solution that. I would assume there is I'm not here to come up. I'm not here to tell you what the solution is but I can tell you this isn't it a wonder if it's it is Medicare. Being available to certain groups of people who would I've always thought lose. Do we need funded. The Affordable Care Act didn't work in the U I think most Americans would acknowledge that. There's a segment of the population needs to be taken care right maybe they're disabled the year were veterans woody and whatever it might be. Your friend with one kidney. I don't think anybody wants to leave them and just say pick him to the curb. But they hate the way you pay for it. Hey Eddie the best way to pay for it is just my opinion would be some kind of me. Broad based value added tax and you just say okay. For this seven million people can't buy health insurance privately and we're gonna have a 2% value added tax on everything you possibly by that law that nine and it's Nadia Petrova needed dictatorship instead of a democracy. That would make plenty good luck McNamee good luck. Three quarters of Americans. Favor higher taxes. For the wealthy this is according to a Reuters and so's poll. Not surprising. Historically the easiest way for people to pay for things with other people's money for a and so that's what you're seeing an audit people are wealthy so if you are not wealthy most most people don't consider themselves wealthy so they sit at your wealthy should just have to pay a little bit more. And so. This is not surprising that people BO are saying hey we need to tax the wealthy in order to what do this the problem then becomes what is the definition of wealthy and okay. If you're making a 150000 dollars a year in your live and on to more in Iowa you're wealthy you are wealthy can do just about whatever you want him. If you're making 150000. Dollars a year and you live in New York City San Francisco when he lost laces them. Your middle class you know. And so it's you know there's a very big divide as far as just geographically would mean some and so I think the challenge becomes. They where where do you put that line and we know Massachusetts is considering this millionaire tax trying to raise the state tax in Massachusetts a nine point 1% if you make over million dollars a year in. You know what I I I don't know if that's necessarily the right answer. The day in less so I'm missing something me uniquely their Tax Policy Center is saying that. Under the trump tax plan in the highest 1% of incomes as are people making more than 730000. Dollars a year. Would receive about one half of the total tax benefit from the Trump's proposed overhaul. Now how could they make a statement like that when we haven't seen the trump proposed overhaul. So I think it's fair to say at the highest bracket is gonna start below 730000. Now so they can probably make some assumptions there I think to say anything about the middle class of the lower class roots. Tough to be able to say that but I think you know we're not gonna say OK the 35% tax brackets who started two million dollars yes I can be the case. Do you favor higher taxes for the wealthy that is our poll question today you can participate in the poll by going to our web site Benito exchange showed dot com. Do you favor higher taxes for the wealthy you know most people favor I mean the reason that Paul came in 75%. Say hey. I'm not my problem I'm not a wealthy no problem attacked tax Tom Brady more money great big Bob Kraft pay more taxes they paid they don't care is that that's that would be they don't. Until all of a sudden wealth beached the definition changes to include them right there because again they keep you say OK I am making 90000 dollars a year I'm not wealthy and pay if you will of the Mississippi you would be theater that's right. Russia has turned to spur ski software into a tool for spying of some of a gun I've bought this before. I don't think I haven't right now but I think we used that I used to have dispersed you know one of my personal computers yet I've got a pretty good buddy of mine who is. In IT security. And ran this stuff by him just would he stuff. He says don't go anywhere near. Stay away from crisper don't go anywhere near pulling. It's a gift disperse the gate checkered considers over their Tucker he Atticus first gear on and on anything that room in in general pace of the best thing that you can do. I don't own a windows PC. What we all. I don't. Now with that. But this is not something those my work computer all you mean on a personal basis even at even at work don't own a windows PC and get rid of them. The Mac the Mac software is far more secure and far more stable because it's closed architecture. What does that say in the help me understand it's it's all so the way that. The two systems develop did you look at how. IBM compatible computers came about in the 1980s and the reason why ever computer runs windows and is because I've been said look here's architecture anyone who wants to go build on you pay us a little fee for doing so. And that's been a pretty much how works that's why 90% of computers are PCs now. Mac took a different approach they said we're not gonna license our technology out we're gonna keep it internal we're gonna develop this slowly we're gonna put us straight and honest viruses speaks you don't because they are incredibly good at closing all of those potential. Loopholes that people can sneak through to vote. The start to NASA soup question why as a Microsoft. Do the apple route and close their art and architecture with all the hacking is going on lately you think they were. Agenda that assumed a more the big thing remembers though apple controls everything from the software to hardware are in and out. Microsoft is not controlled hardware or should. I don't know what do they do tricks in the choir now you prick who make it again Microsoft developed the software to work on IBM compatible PCs. But they don't own everything soup to nuts as a result you know that there's not always. Aid. Yes it's not always synchronize as far as how's how secure the system should be and so. The single best thing that you can do again this according to a buddy of mine who knew does this for a job. Get a Mac. Aren't. Pay up next we're gonna talk to you about what you can do to. Increase the odds that you're plane ride your flight will be on time as opposed to delayed nothing worse than this in your connection there. The united flight that's always late that's our next topic from the financial exchange radio and. Work 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 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. Dirty suffered two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American 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%. 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 delay 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%. 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Incorrectly all these years you know when I go online easily look at say well I want to travel on December 13. And don't want a morning flight that's what a lot of us to choose based on the price of the ticket I know Tucker does. In the schedule right you want and oh okay is that get me into the airport and decent time you know I wanna be there because of Waterloo gamer went to a dinner meeting and wanna make sure arrive into. We could do it at all wrong. Myself and this is an interesting. Study that was done. And what it does is it looks at the type of plane used on route. As a way that you can in theory. Predicted on time departure and on time landing. And is there are some planes you just don't wanna get so. Every little bit of an issue with the study I don't know if it was done with any kind of statistical. Rigor known guy is doesn't control for. Where the plates or go a give an example the best rated no okay. Plane in terms of reliability Pia is a Boeing 717. Then operated by Hawaii and airlines okay. Put this in perspective the Boeing 717. Hasn't even been made. Yeah Ian. I'm trying to think of late when the last time they actually meet them at this point big lake. And eleven years yet 2006 the last time they may yet they fly these planes for 2030 years they do but all I'm saying is these planes most or probably about. Two thirds the way through their lifespan at this point. So I look at business okay Hawaiian Airlines Boeing 717. Probably frank flying from Hawaii California and how often do you see weather delays there. Mikey you just don't I'm sure that'd jetBlue you know plate for our north east in here to two wide DC. Would have all kinds of delays just get you get more weathered crap that tends to pop up so it is interesting you know Gary do point out like 740 sevens AC have terrible on time. Think about the routes they're falling bulk. Mickey your your flying longer routes through multiple weather systems and things like that like odds are you're going to have more things. That tend to end up disrupting them has yet to fly further any. Anytime you have a further flight new adding you know more irritable article it wasn't part of the southwest business model. To have one plane and want that we've mechanics knew they were were not ones yes and that's something that's very legitimate that's what the 737 they use they use exclusively 730 sevens and there's a couple of efficiencies they get there for failure to train their mechanics on one point and they've got spare parts in in all the different air which is an and one set of spare part which is absolutely something that's critical but as far as you know let's say that you have a company like delta than flying you know you got Boeing planes he had Airbus planes he got some old you know in the ninety's that are fine adults get a ton of MD eighty eights they fly up and down the East Coast of and that's just a case where it's not the plane that's more reliable airlines is unreliable because he got all kinds of crap that's the outline around there can ingest congested airspace and exactly so you know some of this I think what you what you bring it about southwest is a 100% troop because they fought one kind of plane. It reduces cost it reduces the you know would just gold problems and things like that. I think that's a huge benefit to them. But some of these you know individual things you know the the delta 737 isn't more reliable in the Alaska won just by itself for a minute that planes planes pray tell me Bible and you know they might have you know differences in how they do their maintenance what do you think of the it it looked like Airbus didn't make it terribly reliable planes a lot of these parties in the study. Is that I've never liked Airbus planes. Part of it is just I I don't I'd prefer to buy I prefer to fly and a bowling and I do an Airbus a distinctive there. More solid plane. If that makes sense it depends type pilots in general tell you that their differences in the control systems as far as. You know what they would they look for and how they have to fly the plane and so forth. As far as reliability Ivan de I've looked anything statistically. That shows I I've found in general similar do you I think the overall feel of Airbus planes and isn't near the same as what you get a proposal receive the same quality. Maybe that's just you know my observation the other and I don't. It's is. You know that they're largely similar mean if you don't fly a ton it's hard to notice but if you do you know you start to notice the difference is you know would. Airbus planes where things that you always noticed is viewed. Ever find a plane here that the it sounds like a wrench cranking underneath you know you know that is fuel pumps okay. The way that Airbus planes are set up. Is the fuel was not you know automatically just sent out to the engines is there's board ups that's pretty much the fuel being pumped into the engines right at the beginning and right before they spool up it's a difference from Boeing and Airbus planes to own planes you don't hear that certain. So you know little things like that but. Overall you know that they're fairly similar I think he largely comes down to individual companies maintenance and then how many different planes that fly. You know the other thing we're gonna cover later in the show is going to be talking about win you should book your flights and yes. I'll tell you what I've never figured this out well you know the that puts his by on Tuesdays and by weeks before by six weeks before it's weird like right now is actually pretty good time to buy your tickets for Thanksgiving. If you wanted to if you wanted to buy your ticket as a six weeks you know you're you're in the window today right to buy your Thanksgiving tickets and you wait a couple weeks here going to be out of the wind. But if you want to buy your Christmas tickets now. Await your million you're too late sorry too late you missed the days so it's is that strange is a wide spot like I always hear so many different things and unlike. It is just it's so confusing now not the electorate decide who's. Because we're we're flying around Christmas and and every year we struggle with it was a when he you guys who said that actually fly out on Thanksgiving Seattle like cheaper price Iowa's trouble and think yep that's there was you yeah now makes sense out of people that travel a Christmas too and they say I always travel Thanksgiving morning and it makes things eight. There's no no strap in and beat it tends to be cheaper. Well that we later in the show we're gonna talk about somebody who's done an analysis. And he'll explain to us win. To buy your tickets for Christmas when to buy your plane tickets for Thanksgiving. All of that and more from the financial exchange radio and. Making your Smartphone even smarter. Download no mobile lab by surging financial exchange joke in iTunes or those who. Who played stores this is the financial exchange radio network. 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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 your 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 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 BB EO at leader bank dot com for more information member FDIC equal housing lender. Time now for mostly watch a look at the market's performance so far today but I don't Berrian jug right here on the financial exchange radio network. Quick check on markets right now Dow is off. Eight points the S&P down one the NASDAQ is flat at the moment so not a whole lot of movement there. Basic gas sector by sector breakdown telecoms and energy both selling off today. Consumer cyclical as one of the sectors in positive territory up about half percent. Also Amazon back above the thousand dollar mark for the first time. You know back to one C three months or so. Back in idea vaccines to line now and so m.s on clearing that thousand dollar mark currently in a 1002. Dollars. About one half of today's average working. Each households will not be able to maintain their standard of living in retirement this is a study that was done over Boston College in militiamen now. Published a paper on it in a way of point this is really interest. Back in 1985. Men on average would retire at age 62. Today that average in the year 2015 has risen to the age of 65. I think it's largely due to the decline in pensions well there's a number of reasons pointed out. You know these Social Security radiate doesn't go as far as as it once did. I think the biggest thing is used to have when you went to work for company you know you've had this defined benefit pension and it meant that you had to take money out. Of your paycheck every single week while eating NC did. But nobody. You can see it but it do you get used came out your paycheck close part of every week he was required you couldn't opt out what. Hope knowing actually chart the way that would work as I was covered by these plays there at the end of the year you get your paycheck every. There's no deduction for your pension contribution though just showed up and then once a year. You'd get a statement from your employer saying. Dear Barry you're covered by the XYZ. Prop. Pension plan and if you work into your age 65 you'll get X dollars per month right. That and and you get that statement once a year of that money was put aside regardless of what you wanted to do and you couldn't touch it wasn't something recent GF had you know bad year I need to go pull all that money out of my pensions do you think that's the biggest contributing factors to what people are working longer I do okay. Another theory is education people with more education work longer. Over the last thirty years education levels of increase in you know by and then know what I don't buy it won't look at what about improved health and longevity. Probably as somewhat of a factor OK I think that's definitely something but. Again if you had a pension that was paying you for your entire life now. Who who cares why would it matter that you have you know moral life via money that's coming in for outside the the one where are seated on the improved health and longevity. If you're a white collar worker great in your in your in good shape. Yeah you're in you really enjoy what you're doing rate that I could see I see a lot of people working just because they liked to work. And and they just. The they're working in my my doctor for instance right peace I think 77 years old united solemn maybe a week you still don't. Estimates of why you know I I know he's got more money than god and and I asked to miss it wide beat keeper Ike it. Is it last time he says and I just I'd like coming to work you know there's there's definitely some people who do I think maybe you're pipe fitter. Well you can't you're not gonna work each of these judges can't work to write a piece of your dinner by the time it takes the we have a lot fewer trades men and a lot fewer. I guess blue collar workers today shock yeah then what we had. And yet the retirement age is going up that that may be contributing factor I think that probably is just because as you mentioned in different types of where you can work longer again and let's physically demanding you look at piped bidders you know the firemen yet he can't do this job for fifty years you say look there's there's a reason why you have retirements and that UH 556062. Was because you can't work beyond. The other thing that catches a lot of people by surprise is the cost. Of health insurance once they retire manipulate guys get to Medicare and need you have to worry anymore. A fact that news matters you know Medicare scum and adding your Social Security jackets you know caught 120 dollars a month you'll. They need to get your Medicare supplement plan what do those for a couple hundred bucks month I saw someone the other day who was I was talking to who they found a great plan apparently for about seventy bucks a month but in general. They're couple hundred about the niceties to wonder if you need it so. You add all that up and then yet you know gee you still go to the dentist we don't have dental insurance anymore so I mean I think that catches a lot of people by surprise. And into your point elected yet if you listed out those issues I agree to the the loss of the defined benefit that the old style pension plan that's the biggest I like I would agree I agree. Hey don't forget Cushing and Dolan is making available a guide for you it's called designing the perfect irrevocable trust. Exclusively available at legal exchange showed dot com I'll tell you what folks you do not want to have an herbal global trust. That has improper language. In that trust why. Well at the time you apply for Medicaid you could be denied if you have a draft a trust that was drafted poorly. Cushing and Dolan has been in this business for a long time more than thirty years give them a call and go to their website designing the perfect herbal global trust. Web site only. Yet it by going to legal exchange showed dot com that's legal exchange showed dot com to get the October guide from the law firm of Cushing handle. Here's how much money you actually take home. For me 75000. Dollar salary depending on where you live that's actually a fairly typical salary that Americans are sent to 5000 dollar. Yet this is this is phenomenal illustrating the the differences in no really what taxation does in different states so. If you take a look at these eleven major US cities and let's start first with the most expensive from a tax perspective New York City. If you make 75000 dollars a year in gross pay your take home after taxes not doing anything from a 401K perspective but just after taxes. You're down to 49 96. So that was something that caught my son and my daughter by surprise because. Upon graduating from college it all worked in in Massachusetts before going to New York City taxes but the they graduate college and first of all you moved to Manhattan. In your rent is 16118100. Dollars a month in 2000 dollars a month that's for one room. Small room in a three bedroom apartment. Eighty days notice of the rent is you know you're talking 6000 dollars a month in rent for three girls are three guys. To share department so that catches them by surprise but then they get you know the same federal tax rate that they had up here. The same state tax then there's this New York City tap Aaliyah and you're working in the city. And there are tax and every dollar you make. I still remember when I in turn down there is down there for total of six months ago. And you know was shocking to me I was making next to nothing I was making 200 dollars a week yeah okay and it is next and I think thank. Actually knows our 400 dollars a week so I'm sitting there I'm like okay is that doubled this thing. But you know all of a sudden he sealed as combatant even that you know your 400 bucks a week. You're sitting there you go okay now down to LA 320 when it's all said and done not easier to do that you know down there so. New York at a 75000. A gross pay you get cute 49896. What's where what's the best city to be in terms get to keep your so there's a few of them that tied because they have no state tax and no local tax okay. Dallas Texas Miami Florida Nashville Tennessee. In Seattle Washington all come in the same kind of 5600328. So dollar value I don't what those are all. Nice places here like. Pierce nice cities note and did you get to keep what 7000 dollars more of your day it's an extra it's an extra 520 bucks a month and throw money. Freddie but you know it says the number gets a extra egg is worse as you make me think back of your big 95000 dollars numbers even bigger you think about that 520 month. That's carping OK that's your student loan Paymah like it's saving money for down payment on a handle about what that means like. You are talking yeah we get an extra twenty dollars a month you an extra 500. Dollars a month. At the same salary. Mortgage applications dropped two point 1%. As interest rates hit the highest level since July. Yet this this is interest in here is we have seen rates start to tick up in recent months. You know as we've seen the ten year treasury move up a little bit right now according to Bankrate dot com. The average thirty year fixed mortgages at four point 06%. Smoke I didn't and some metric street and show that a little bit higher. Once studies showing them up four point 16% right now see you back over 4%. On that thirty year fixed mortgage. You know certainly it's interesting that you know just a simple number like that going oath from B 399 over for Newton has this kind of effect but. You know it certainly is and I think there's a chance you might see rates tick up a little bit more than prior to the end of the year and well we will CEO the the Fed is pretty much baked ended December height and they are the federal take a look and see what were out right now as far as the likelihood and December I know that even back in August like most are pretty high it was looking unlikely then but today. Looking at the December 13 projection. 86 point 7% chance that you have a hike in December and so just pretty much they're making sure that nothing goes wrong at the end of this month their end of November but I than that. It's it's all systems go for December. Connected the Owens' last at her rock could be your last like. Wonder if you get the before she takes a hike so. Well we believe we have actually the odds are outstanding Tony we we have all of these statistical odds on whether Janet yelled survives to remain is fed chair. Compare her her term is up on February 3. But she can stay on the Fed she just can't be chair if Donald Trump does not reappoint her they would we come back. They talk about the big loser as it relates to men's soccer next from the financial exchange radio network. Trumps administration hasn't passed any significant legislation yet but tax reform is front and center asked and share. 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 pro ready to end 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 in 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 dot com legal 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 liter 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 and don't -- 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. 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 the east 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 to get that maybe aren't ready and 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 that 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 in that case I'll make sense now. Which today would have 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 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 sure war. 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 8668485. X 99 if you want to copy. Of the October guide 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 Barry and show live on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. If you're landlords take advantage as he raped it's a fully automatic online ranked collection tool that is free from landlords and account at a participating bank. And always three for Tenet's sign up and have write checks deposited directly into your account call 8776917900. Or visits the red dot net. For more information. So chuck yesterday we were thinking of you we've been mentioned you during the programs are to hear that when we learned that the United States men's soccer team. National team. Had lost to Trinidad in the qualifying round. Thereby eliminating them selves from the World Cup next year. It was bad against it was that Carla how does that. Europe if further benefit of those it you'd don't know truck terribly while he was a big soccer player in high school to play division one soccer at Dartmouth. It's an and I am not soccer and among hockey so I like this would not happen. They'll be like the men's US men's Olympic this is the quote lip lip missing. You know these these Olympics innings if it's not quite that fact is the US team is in great okay they still should have squall like they should always qualified at the US team is not a team we have 330 million people we have millions of kids play soccer every day. We don't train them. This that would it is its exact we're trying to figure it like it's got to be something wrong with our coaching. We don't train the right if you look at how the talent develops in just about every other country okay. The top talent is identified usually is it's kind of like what you see in hockey the top talents identified as early as age five or six in their place and academies were all they do was play soccer all day every day. The rest of their lives enough that's what they do is that. Late in globally they like yes yeah just about everywhere. The US does not do that the US is still trying to get by with you know travel soccer and cause in in high school and college and that's just not the past it to developing. Good soccer players that the single biggest problem that the US has its not a lack of athletes who would you describe it when you describe that you referring to countries like. Ireland Spain England all the Germany well I'll leave Latin American countries like Britain though portal. It in the poorer ones what you have is the top teams in those countries yeah okay they have all these academies and get the kids in an early age. And what'll happen is then the better team see your team you know you look at what Barcelona does as an example. And Barcelona will say hey we saw this great kid down and Ian. Brazil at age seven we're gonna buy him out watched foot mark peer and where you train. But they are taken it did seven years old from Brazil 789100 sure yeah bring him to Spain yet you've got you elected I don't want to be the best soccer if that's what you have to do. That's not why that's what they do hockey it's no they don't they absolutely do not do that hockey do not take seven year old kids away from their family and transport the map please don't bring the whole Fam what you don't understand. Yes they did they don't do it they don't do that hockey talk and tell so they get the elderly and hockey Oakley in hockey there already there. They always think about the schedule that kids playing hockey now I have a I have a good friend. Who his son is a big hockey player now he says he's playing ninety to a hundred games a year you know. That like that's done saying that's what you have to do when soccer and we don't do. So anyway. So you a national embarrassment. And especially in the soccer yes this is one of the one of the most embarrassing performances I've ever seen in soccer. At any rate. The if the team obviously very disappointed in the coach there it's Bruce Arena yet there he went through while one coach the cycle you're in Klinsmann was I'll let go about this time last year. And so Bruce Arena wasn't going to be back for the next World Cup anyways but. They'll be moving up pretty quickly but both fox I mean they're gonna lose assured on this site I looked at the numbers and ESPN Tucker. Had the rights through this before. The US Portugal match drew drew eighteen point two million viewers when ESPN had it. That that's more than. That then I think some of the day then that watched the NBA finals there's secondly what's talker is is popular. Butler in the united so here here's the thing that's interesting. Is I think if you look at the World Cup overall yeah you gonna lose those few highly rated US games. It doesn't matter tonne in the US because the Latino community. Is watching just the US games election Argentina. You look at like to go on sale Univision and all those channels. They are watching every other team and so fox is certainly can have some lower ratings but overall you look at the World Cup ratings this year vs U 2014. My guess is they're gonna be pretty similar even in the United States I think so really. That you that's contrary to what I would have expected so you know everyone's gonna wring their hands failure don't give these highly rated games you won't. But do you remember the 64 games that are played. If you have three I don't get the ratings 64 World Cup game that's the total number games in deep when they bought that fox did. Is that a global contractors had just domestically here in the just domestic. Just domestic and it is you have to remember the World Cup is the biggest that we think the suit rules big. This doing this is something this will be watched by two billion people in the world Nokia and now that the championship game. Just the the entire tournament now who won the last World Cup was at Poland Spain one was in Germany. Oh beta mr. We're talking 2014. Yeah 2014. Was. And he and yet it was Germany's World Cup every two years or reform for years and before the I was Germany to be Argentina in the final. Doesn't detained I think it was of the beat Argentina in the file is my Argentinian friend was crushed this juncture if you just say act quick text from the 77 former brother in law was recruited as a twelve year old kid from Finland. To come here and play hockey. Yeah. From Finland. Seat I I wouldn't leave Finland Finland does a better job producing NHL players in the United States for arm. For capita basis and at dinner around capita basis until there's only four million people in Finland have the best countries for hockey production. Would be your Finland and you're Sweden New Jersey re at its current you do it on a per capita Alex Sweden has a very small popularly I was law of the Swedish players too at the end eight and a heck of production of pocketed I'm surprised it finished kid. At twelve years old. Would Communists it's I think that's a mistake they act I think. It even in Canada we you'll see. Is kids who leave their home to go played major junior hockey but generally that's not until they're like fifteen or sixteen years old. Yet the net eyed kids that I went to school. And they would leave that town. To go play but there are 1516 years old via the in. In soccer you have kids in the academy's new age 8910 that's where they start Roland you remember you've seen it church worth competing. You know get you you're you're you're not do in the family any. Great service and the chances of a kid making soccer. It injustice that is they are made they don't play are slim there have been plenty of US kids went over to this European academies and washed out yeah. That's it's it's I'm not sure it's the right thing to do for the child and I'm speaking of course. Pay the markets open and down a little bit the Dow down fourteen points price of oil is down ninety cents a barrel at fifty dollars and 32 cents per barrel. And the S&P 500 is down two point it's very good shot. From the financial exchange rate and. Planning for retirement is not an easy process there are many factors to consider such as contemplating how 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 them 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 MLS the verse 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank their 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 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Deborah DNC equal housing lender stimulus 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 dot 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 our offices throughout the region making it easy and convenient to set up meetings if your 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 securities offered to securities America incorporated member and SIPC and advisory service is our procedures and their. 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 to 65 years and ten months you're born in 57 it's 66 years in six months so you have to understand this as well as how your Social Security amount changes based on how long you wait. Right the other thing that you should do is take a look at our guide me 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 and which ones 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 online Armstrong advisory group. Dot com. Go to now Armstrong advisory group dot com. Securities offered to securities America incorporated members Jenrette SIPC and advisory services are printer 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 can't guarantee 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 pro ready to. 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 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 while 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 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 ahead 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 -- 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 and don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new -- savings account that has a one point 15%. Annual percentage -- and no minimum balance and remember this product is only available on -- so logon to leader -- dot com right now -- leader bank dot com -- -- a step ahead. In new. This is the financial exchange with the Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your. World and stay informed and up today to promote economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck Exxon. Well while the markets are down just a little bit the Dow off ten points Amazon has gotten over a thousand dollars a share for the first time I believe since July. Hi everybody it's very check with you here. On a Thursday morning. Amazon over a thousand dollars I wonder if any of this is related. To the story we're following as it. About Amazon getting into the pharmacy business. Certainly could be on the you know Amazon is is poking around in getting into this business they have been for about the last year it seems now than and so. It seems like every day we get a little bit more to trickle out as far as. You know what they're potentially getting into. And you know it seems like it's something that is likely going to happen but we don't know how quickly and then we don't know how fast they can scale as well. Discuss the pharmacy business is not an easy one to get into there are you lot of moving parts. One of regulation and so you know remains to be seen as they cal quickly they can expand even if they do decide to get into the systems. What are out. Purchase whole fruits. And the this thing I would be concerned about is when you get a prescription he indeed the business model today news. You go to your doctor for 10 o'clock appointment in the morning did you feel bad or you're you're not that you're sick or the kids are sick and the doctor writes a prescription. And you immediately drive to CBS and you've got that prescription by 11 o'clock he knew that it you're sick kid and healing begins. Amazon does have a distribution network. For that where they can get it in the kid within an hour. Do they go and like I looked at Rite Aid Corp. is this they can buy rating for billion dollars. Do you think about rated. CBS two big CVS is two days at a five billion dollar company. Now they would be what about Walgreens. Moscow to big. Or here like this they'd be the problem is there's only what 450 whole foods stores around. Yes some wondered if they could have a pharmacy in the whole foods you certainly can distribute either I don't know what you have to do as far as licensing and regulation and things like that one that's the big stumbling block is. For that for them getting into the distance it is it it's a highly regulated industry as should be we just gave them an idea though. Put a pharmacist in every whole foods. You get rid of all the cashiers Japanese space if they do that we need to find a way to get a commission for him no. Tucker can you marked the tape and everything just so that we can say we had a first suggestion to Jack. I'm sure he didn't think of that himself for journalists Niger on Jeff for mr. best I think and when you're the richest guy in the room gentry Jeff know enough mr. designate money. The I think there's a lot of skepticism. Towards Amazon's ability to get into this this is because of the regulation associated. But they said that about other businesses into. And they don't want well. You where there's cigar free business. The electronics business that you know lately every furniture business and that gets and everything and some worked some built. Yeah and I'm curious to see how this shakes out just because and look I'm not the target it's. Audience for a forms I I generally handle. Take any drugs on a regular basis I generally don't get sick a lot of you have a family what we would becomes it but this worm going. Is I don't know how many people. Feel comfortable right now buying their drugs on line. A lot of us to I don't I I lost in chuck eat when you buy from CBS they immediately say hey we do elect the next went on line. Will I get all all I know is from what I've seen them. My mother my father my wife and her family they are all doing you know in store. They're not going on it's I don't have a whole lot of experience with people buying drugs on the lines I don't know. We but you know. In that's where my hesitate a lot of the a lot of people are going on line. Because they know the like if I give you an example track if you're on. A blood pressure medication or fear on Staten. Like up mice are on Staten I did that I did in ninety day supply when Obama mania my drugs I get him a big they. Come to me on auto pot yeah I'm trying to see OK here we go online sales. It looks like it's a now. Seven or 8% of all pharmacies yes. So it's today so it's it's growing it's it's not growing exponentially it's not you know going vertical or anything like that but it looks like it's in that ballpark CC BS doesn't really want illegal because. When you walked into the store you buy other stuff. You know they get that's it that's the benefit CDS right they'd get you'd come into the store pick up your production note no doubt about it so. I think it'll be interesting to see what Amazon is able to do here that. The question that I have everything else they've gone into it and they can kind of dipped their toe in the water and you know Tennessee how things. I don't know if you can do that with the forms ID act that you could well. But it seems like something where you gotta go whole hog. And I'm trying to think how they use CEO. CBS's it would be expensive for them to you know and in what you think about their existing warehouses you have to retrofit those new orders and you know secured part of it for our pharmacy you know Walgreens can they buy them could if with them I think there somewhere around to see how big they are good and fine Walgreens is 74 billion NASA this Walgreens CVS too expensive. Right eight rating would be cheap to. By writing from and why would you buy it because of the auto stores they got all they got to the story at all the debt to Cecil. Yeah I mean is like the dealt with the increase in a guy in your stock. You know. And how it is a lot of cleanup to do there. If we get you all the sudden you've got all the regulatory stuff take care of yet all the pharmacists they're on Tony's yet a company that is doing fathers you the company was doing 33 billion dollars in sales OK in radiating. And there isn't that has a market cap of one point seven billion. You know in stores they have wanna say the there's somewhere around 14152000. Employees. They have those gays say no they've got 4600 locations they saw an all see this is a natural talent we're given dozens ideas but the moment. I just don't know play by that USC at 14100 stores there you put pharmacies in any of the whole foods stores. We you don't have. And a writing nearby rates Avi of a Rite Aid next door you don't put a pharmacy in the and the whole foods. But if you don't ever writing next three put it right in every darn hopeful story you can make space for the solid season with cash those that are are. Without the cashier exactly all right exactly. He or Amazon right now. Has about seven billion dollars and that whatever and how much is Fredricka rated. As seven billion dollars and so is it your did double the amount of debt that you have. We should buy some shares Tucker's name is so we can and have a vote is it lets you own shares down you guys are you to think in. I own Amazon okay well in gold while it what do you think of RD ID we're trying to enhance shareholder about here. I'm not enhanced united hand on enhance. Its pharmacies for it we put all that work and he doesn't like her idea. It was so what else would it be funny if they get analysis over the week off that did this over the league and I commit a Monday you can you know we've rolled back the tape like crazy and humble pie I don't even think I'd come in on Monday. A very I'd I'd I'd just hang my head and seeing that you wouldn't have to you can see Amazon stock price of gore so much he'd be able to retire now. We'll do this then that Bank of America has signed a lease. For Paris trading ahead of bricks it's starting. You know the these next two stories. Are very similar. You know the directed vote occurred wins a year ago June. Yeah Wednesday June 26 of supply gap last year. And companies are moving out so Bank of America moving out of London in the movie and went about it bout with 300 police Ellis thousand yet least. Where they're renting a 100000 square feet in Paris. And is enough to accommodate a thousand workers. In that facility if they choose to. Paris is hoping to or up to 20000 jobs from the UK. As a result of breaks it in this and that doesn't include with Frankfurt and again and it doesn't you know the big winner on the exodus Dublin. Dublin is gonna win. Week d'etat that this is what you have to understand about these things is first of all the EU has no incentive to help you right now okay seconds. The body's going to go where the money eons in the money is not going to be in the UK anymore if there are sitting there saying oh by the way we cant train those thousand people that are moving from one that's what's happening here folks got a thousand. Highly paid. Individuals that we're gonna move from London to Paris where it is they sell their homes you get rid of their flats and they're gonna moved to Paris if the EU is saying any trading that happens here has actually occurred here you can't trade in London anymore. Like well then why didn't Catalonia. If the same animal as Catalonia. Talk about let's can we replace these details Dick kind of left out in the in the whole you know movement we are making fun of the NFL football players in the day for self inflicted wounds. You know Britain Great Britain did it to themselves and not Catalonia you've got three company's big companies that are already saying hey where we're done it in the here's the problem is when the big companies mu. And coming back then they don't come back beat they don't take the low paying jobs the opening the retail jobs for those companies local presence as they stay. All all of the all of the ex you know the high please people in the executive offices those are the ones they go and they do not come back. And then you're sitting there if you are the separatist leaders at their old bags and OK now what do we do pay your problem now that's a problem. Look at the back if you wanna see an example that. Look at the back in the 1970s. Went to the same thing I lived through and I lived in Canada at the time in news huge degree of animosity between. French Canada and English Canada. And they wanted to separate. All you had happened was major businesses Montreal used to be the city in Canada. The left Tron I was now the big economic city in Canada why busy this separation issue chased those big corporations. Out of Montreal. Into the back sunlight for Canada was just one of many companies that moved from Montreal to draw. Hey when we come back will be joined by Eduardo. Quarter from the New York Times why are big city's thriving think about a city like Boston or New York there are doing very well. But then you look at the city. You know a smaller city. Think about your new havens your Hartford Jermaine testers they're not doing as well why is that well we'll talk to Eduardo about that from the New York Times next from 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 a formal succession plan you're not alone according to investment news 43% to 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 are gays 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 -- become accustomed if you're interested in talking with us please call me at 803934. Zeros or one that's 803934001. Or visit us online at Armstrong. Advisory group dot com securities are for two securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you're in the market for a small business loan you need to call leader bank if you are small business looking to expand or improve 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 cost some low visible to 150000. Dollars and ad rate is locked for four years in 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 on line 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 are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated hi this is Barry 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 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 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 delay 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 stepping. Add member FDIC a minimum balance fees may reduce earnings rate subject to change without notice and may change after an account is opened. The financial exchanges live on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. Days as the financial exchange radio network. The financial exchanges live across New England every day and you can't hear us live from ten till noon. Download the I heart radio app on your phone or tablet and follow follow us when you're able. Just searched for the financial exchange and you can hear individual segments or full shows win you want them. We're joined now by Eduardo Porter from the New York Times he wrote it compelling article regarding big cities verses smaller cities. And I wanted to talk to about it he's good enough to join us on air I Eduardo Oreo. And yes I I read that they are first of all I've read your article that I read that study that was done by the Brookings Institution guy when his name moral mark moral or area. That was fascinating you'd share some of the the the intricacies and intimate details of that study related to. Big cities as oppose like to think about and New Haven, Connecticut perhaps or Hartford Connecticut compared to New York City. You know well. The binding. Murrow searcher or eat are pretty compelling. And he was looking at how. He's emerged from the Great Recession you. And by comparing smaller cities and these are eighty two. 20220000. People population yeah. We bigotry in big cities were packing you know populations. And so it is. And that the emerge much more quickly. Lately they're employing an growth was twice. And here we wrote was gatekeepers at there and even though everybody experience. A drop in the labor force here people who were working that the decline was much much smaller and big cities. Oh. And so I popular is that. Well what's going on in right in different Dick Beatty city. Called it. The idiot that smaller seat have a read we are much harder in without. Because they're smaller cap they don't have at a super eight echoes of businesses when we people they don't have that you to Richmond and ecosystem worker at. Highly educated workers. And so you know you lose your job in the multi merlot copper. On the to find a new one at a decent way than big city where the speaker will. Well let's look at the northeast right your New York we're in Boston. Those two cities are thriving ready at the economies in both real estate values drop unemployment is down wages are Barings go in the right way. But dead and a what you think about westar. Springfield and Hartford New Haven, Connecticut I mean those four cities continue. To struggle. Is is there any hope for those four cities. Well you know. I negative that you can't you can't write write in any that you off altogether and read the book. I mean it seemed to need that either smaller. Shop and better aren't those that are going to be able to latched themselves in orbit. Bigger cities you know the kind of like get close to bigger metropolitan areas and then sort of like take advantage of what these guys are. But it sure our way or you're not connected by a good. You're really really in trouble because then you'll you'll ever out. You know it's becoming much more difficult in the port larger metropolitan areas being. They have a real big gravitational pull. So elect small people coming out of college and got it all over the country club and decode the marketplace. Await. Your job airport site. The money that the capitol with all the gonna go to their opportunity. You know the new business particularly. So. You know you're you really are facing an uphill battle you are not being to be like big. But looking at this one of the things that I find interesting Eduardo is. We live in a time where there's more communication and more connectivity than we've ever had previously so in theory. Location shouldn't matter as much has that technology somehow pushed people into those cities as opposed to allowing them to work from wherever they want. He had a really interesting paradox because we all these sort of being that this would you bet I he would still be an. Everybody would mile commute yeah matter where you live right. But he. That they need the information technology and working in a very very different. Big you know it it really and then bury the labor market the skill people. You know Silicon Valley goes you you know I own a Stamford university and then it all at all. They're all or if they are together. And it makes things like matching dogs. 22 you know job openings to 22 people each year it makes sharing ideas you hear it makes learning you hear all these beings. Make make I don't play much more important than we are with even though you know it true that I eat in the mean you know communicate with can be crowned the world he'd be here. You know the thing that occurs to meet Eduardo I've got five kids are all millennial sale graduated college in the last ten years. And and they all took to a man said when they graduated college they didn't look for jobs that were located any place other then. The the and looked in San Francisco Chicago new York and Boston that was it a pretty big day or not they didn't even take an interview. In in in a small city they they knew it was near seniors in college they wanted to be in big city. Yeah you know that right and and because also Indian mid eighties go to the big eighties you know all. And the ancillary jobs that your your your married and they know what I can be eager like that he'd come you know dot. Britain's house and it certainly it would ultimately even that the original good. And what I'd like to appear in new being advocate for a lot of the Cold War period it was urgent between eighties it was like all or were catching up beat you. And epic nine actually earning apparently different kind of had to be organization. You could put factory every corner and you didn't really look like super high yield content created in one place. You know oh well there you Katrina well they're house. Q&A welder is not dispute that but basically you know he didn't happen go to this week when it reached righty well but now you know op junior you do for a Biotech you know engineer you you do really need to go to the plate and those. Eduardo we have to get out but thank you very much for your time we appreciate it. Thank you very much here Eduardo Porter New York Times unity this thing that we'll talk more about it when return but you look at the quality white for the smaller city. It's considerably better and the cost of living is a lot lower we'll talk about that when their turn to the financial exchange or you know. You've got Barry Armstrong. Financial exchange shall look I mean Julie new 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 owned by your gold locally it just makes sense. Give 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 on guaranteed by the bank in May go down in value leader banked 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. Securities are for two securities America incorporated member finreg SAP C and advisory services are there 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 your assets from pro ready to. And in order to make sure that your process goes as smoothly as possible he need to deal with an expert Todd blessed to be 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 and keep your assets safe this month and has written a brand new guide called designing the perfect income only around a global trust. In it you'll learn about strategies to undertake while 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 guy that's legal exchange showed does come up. Legal exchange show does come. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks ticked hassle out of rent day with zero leader 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 reach 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 7816 or 18691. Very Armstrong here and I'm joined by vice president G tool from leader bank. We're talking about zero rent this is exciting because zero rent isn't method for landlords to collect their rent electronically. But there's now find it refining Jane that it's being widely adopted by Condo associations tell everybody was he rented. All right so you rent is a product we innovated leader paint. 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And then of course there are reports in notification that all great stuff but going back to your question a Condo association's a lot of Condo associations have been using you aren't as well. Because the Condo. Payments that kind of the shirt to every month at the scene so they've been signing up and there's a version of the rent for condos. I'll be darned well sounds like a something that you need to learn more about folks visit. Zebra dot net to learn more that's a website address war called him at 8776917900. Toll free 8776917900. Why collect your rent or your Condo fees with paper checks get with the modern age go to easy rent dot net or call them toll free 8776917900. Markets are. But questions remain about whether or correction is coming. We've got you covered every day with what's not and what's not from Mike Armstrong mornings at 1030 only on the financial exchange radio network. The owner of the Worcester company that provides home health care services was arrested yesterday. And charged with stealing two point seven million dollars from the state Medicaid program. In the latest case of alleged fraud in the home health industry we read about these stories. My reaction be if. The every day that probably it's a couple times a month at least. We get these this one here is a company called. Life stream healthcare alliance. And what the the person in charge of company is charged with doing. Was overbilling out of state Medicaid program for services that we're not authorized by a physician in fact instructing. In port used to forge physician signatures. In order to collect the additional bill. At the allegation not good we know what occurs to me that was whenever we cover these stories. It's Medicaid. And Medicare. That are gaining defraud. Not Aetna tonight UnitedHealth. And the thing I come back to use those private sector companies that are you know running their own insurance companies that. They tend to have a lot better police and controls than the public that the Medicare conceiving about the Medicare fraud goes on its. Literally in the billions of dollars every year you don't read about that with UnitedHealth yet I don't know why it that's the case I don't like is this United Healthcare stockholder money. Where's with the Medicare what is that a government I have to imagine this stuff still occurs with private insurers. Is it really doesn't need I it is passed to. I mean this stuff occurs everywhere can read about it. All saying relate it back I think about how many times like reserves how many times do we read about an insurance company. Get ripped off rid of the government get ripped off all the time. It it has to happen in the private sectors well all of suggested to each is that. Public sector. It tends to have a lot less control. And privacy no doubt about it but it has to happen in the private sector to do. Texas logistics company expected to add 300 jobs in Rhode Island this is a function of the expanded airport at T if green. Yep pinnacle would just Dicks out based out of Dallas is gonna be leasing about 75000. Square feet at the ITF green tarmac. Nor put a couple jets there as well as leasing some space in a cargo building. In order to start running service through there as well they gonna start making four. Boeing 767 flights daily from TF green and and are also planning to build new permanent facility at the airport at some point the futures well also. Continued good news for TF green. You know they they've done a phenomenal job in the last couple years 300 jobs just that's just. One little company doing 300 thing about all the other airlines that are coming in and out of there I mean. There there. They're taking advantage of the market market opportunity they they've done a phenomenal job at TF green over the last year and a half of trying to get more traffic coming through there and and what they have for traffic relative to long and it's got to be destined tense 10% to. He is are you talking in terms of largest number of planes are in terms of past paso I guess in 1015%. So we're Logan on pulled up the the data on Logan right now Logan in 26 team that did 391000. Aircraft operations. And had 36 million passengers going through. Province of TF green. Had about 66000. Aircraft operations but only 3.5. Million passengers about the. Tenth the size. But if he did if they didn't tune up that airport and it's a preferential if you live south of the Mass Pike. You're generally better off traffic dies in time wise as him parking wants cost cost goal and attitude cream. The problem is he just Europe and flights notre adding they they keep adding airline after airline. Yet they they aren't so I think you go that they've done a very good job the last couple years is they've previously you know five or six years prior to that. They've seen some declines in traffic they were one point I think due north of for a million. Passengers through there a year but it's declined so they're starting to get things back now and I think this'll help community continue to spur things on there. But the problem at 10% as you just. If you if you're flying to Phoenix where you get a good flight to Phoenix but that flight gets canceled. You might be another day before yet. The other thing is interesting so taking a look at the diversification of new and different routes and things like that yeah. TF green about 10% of their overall traffic. Comes from one route. Which is Southwest Airlines flying to Baltimore. And 10% they're trapped is that one route and that's the single biggest one that they have wears you look at Logan. The biggest plate that they have is heading out to show Chicago O'Hare makes about 3% but it's on four different carriers so it's much more diversified at Logan. Where Steve green is still very dependent. On that you know discount you know Providence to Baltimore route the southwest runs. For those of you who are landlords. Leader bank has a program called zebra. It would it allows you to do is collect your rent from your tendency only that money right it's the twelve for the month of all of your tenants page of their rent. Well if you had zero rent you would have had all of your rent collected in the first day or two of the month because you've collected electronically you know wait for a check to come in the mail. They need not walk into the bank in you're not having to go to the post office it just ends up right EU you'd tell that tenant pay were to sign up for zero and is do you owe me 12100 dollars a month to go from your checking account on the first of the month in in my checking account and bull no no no paper checks anymore. Well you'd like to learn more about you right are you wanna just sign up fort. In the call it's 8776917. B 900 the way to collect your rent is the suggestion to. Is electronically you can learn more fears saying Taylor figure out how this really works. Good as he rent dot net talked your kids about it and telling if you are landlord. You need to collect your rent electronically zero rent dot net to learn more or not talked to somebody. Called leader bank at 8776917. B 900. Wildfires. Are putting 65 billion dollars of California homes at risk this these fires are out of control. Yet this I've I've heard from a couple people up in this area and they say that the smoke it's just kinda hanging out there mussina and satellites it's its own blue won not just on satellites local UC drifting across the entire country I mean it's it's pretty shocking what you're seeing there. A 172000. Homes in the Napa in Santa Rosa metro areas. Are now at risk due to these wildfires. That are in northern California if you all of these work to be destroyed. Retired at 65 billion dollars house is now okay. About 111000 homes are at significant risk of damage here these fires have killed at least fifteen people. And have him absolutely devastated the area and in particular in you've got a lot of high and wineries in that area. That you know of had entire crops wiped out just because of some of these fires that have come. You know AE's keeping about the natural disasters occurring right. It California. At Florida yet Texas parts of Louisiana. Get Puerto Rico and virgin island. The amount of infrastructure. That's going to be done just be required to be done. Is amazing they significantly the air there's probably not be in a better time. To be. Trades and I'm thinking Whittier carpenter electronic. Electrician. What did you build foundations mean there's a lot of work to the end there is a mean if you want to relocate those. It seemed like we see quite a few of these and not necessarily the scale with the hurricanes but you know it seems like we always have these wildfires every year. There was a different art exists now. You don't think so no do you remember those ones in Colorado a few years back recently again league knows you Hadley the entire state it seemed like was on fire him. I don't know it's it's certainly there's no doubt that it's. 172000. House this story illegals on the real and then I did see. That the House of Representatives this I'm gonna tell you I'm worried about this House of Representatives. Released a bill Tuesday night that would provide 36 point five billion dollars in emergency funding for hurricane in wildlife fire relief. A lot of money and extend credits Puerto Rico and the Virgin Islands. And India have to do it but I I tell you I just. I I worry about the money. In the administration. Of the funds to say I deceit. Time after time I think what we're gonna ever be reporting on an aide mark my words. Three years from and now in five years from now we're gonna find out a lot of this money this federal money ends up getting stalls and a superb. And a lot of this is going direct FEMA hopes. I don't know about it about half its go direct to FEMA. The remainder about sixteen billion is going to love the US bought insurance programs so I think the vast majority is going to be administered by those agencies. I hate I think it. I just hope they don't screw up you know I just the right. The beat because the there's no doubt in my mind that the we need to spend the money but often times you look back in say. Well like I thought they're gonna build the road where the road. We'll get built for the road to the did build a road dead or the other gonna build a bridge they've got a deal this elaborate but it above average or they're gonna rebuild the electrical infrastructure. And it Indo. Yep this you see it and it a lot of these. Also not included in here Texas does have an outstanding request for about eighteen billion dollars for rebuilding that is not included none in this in this bill that's being passed here. So who's the next fed chair are gonna read to headline for it's quite funny Wall Street Journal saying. Kevin Porsche seems to lead trumps most likely pick to lead the Fed in May and CNBC saying. Powell is the odds on favorite for fed chair amid reports that the new notion is pushing for. I don't know why war should be the guy because he's a hawk he's gonna wanna raise interest rates. I couldn't tell you why he's necessarily the guy and no Janet Yellen still in the conversation that's looking more unlikely that she come not bad override term there are odds are pretty good great 22%. Ten probability of yell and be written right in that ballpark yap and you have a 20% probability that. Mr. war should be chosen 22% as you said of Janet Yellen coming back for second term in 21% chance. That Powell would get the nod here and the CNBC saying no policy. Yeah I. I don't know enough about the internal Paula and we go USA says. It and we need air bets I was gonna say yes no prediction mall there you go so well here prediction. I think music Gary Cohn awhile ago that take it down a path I retract. Track that I don't know if that's allowed Boca. You keep it up but now you've got an opportunity to be wrong twice and ago I go for Powell. I'll I get to tell earnings figures because worst seems like he's hockey's gonna wanna raise rates. Although war which you know portion of the war should he talk a major stock yelled I'm gonna go with other. Yelling yo OO years of Calvin Johnson all of health itself doesn't still does not have a job violent that's just one reminder united as Johnny means. Up next we'll Johnny measure on the Fed would be great wheel man joined by Johnny or Justin sadly. From the New York Times to talk about how you. That's right how you can book the cheapest holiday travel and travel Thanksgiving. You know how to do you like traveler Christmas and new tricky. 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 days 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 that is surely worth your time to check out -- bank is offering in east savings account providing free online banking when he one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice and don't Dele logon to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's 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 probation to. 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. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43% to financial advisors are over the age of 55 and many have no contractual agreement to care 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 -- 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 security's effort to securities America incorporated members in SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated if you own rental property you're going to want to hear about this exclusive program offered by leader bank it's called zero and is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the male -- leader bank right now if you are interested -- he -- the number is 8776917900. That's 8776917900. This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that Tim and I never see -- upon the execution of their release and why wouldn't you wanna do that once it's set up you never have to make another change during the lease period zero and does a three service if you have an account with leader bank and if not they'll simply cost you a small monthly three call leader bank right now and 8776917900. That's 8776917900. Or go to zero -- dot com for more information member FDI city. Security suffered through securities America in members finreg SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. To vote on our daily poll question had financial exchange Joseph Johns come out while you're there fire of the media player and watch the show while you work. This is the financial exchange radio network. Justin satellite is a contributing writer to the New York Times and he wrote an article about how you. In both the cheapest holiday travel Justin welcome to the show. Well I do so Thanksgiving is right around the corner next month when north to booked my plane tickets. He can remember one thing about this topic is in new book by Halloween. Which helps people remember about other holiday. So I stood at weeks and I had like three weeks to book my idea Thanksgiving tickets. Yes yeah that they that's been. Should. President most able to October. And want November yet. Start the well but you guys. There there isn't there to about and we I don't thing it means we. Actually eaten about a. OK so how about Christmas with Taiwan a travel at Christmas I wanna go. General Florida California which would in and we're in the most all of our audiences in the northeast just. Tackle it and the department. And about the now. Yes we like unlike warm weather biding my time Christmas rolled around we had an awful winter we like four days of winter. Yet understand. Yet but in general I actually don't mean he is another. But it gave the book by a little while. It. You know the right start right that they. Yeah and you've been. That yet but I'm about be done before the Christmas it's well they kind of all out that sort of you know updated. They were in similar ways as our current and our location you know unfortunately the problem. Florida for example as one of the the price yet but nations and I'll put it. That's due to let you know high demand it make how are a lot of people like like you who are trying to find. Breaking a COLT. And people work as. Well. Where but the day of the week that I bought my travels somebody told me once that I should only booked my flights on Tuesdays. Between may lose. 10 AM in new moon base and that's what all the bargains are. That troop. Yeah that that is out there com. So that it but that Butler would be a little bit and all that ultimately but he each factor. They now own. A recent trip to this story. A RO I dot com did a session. That Friday actually the keep it in the book. And they also found that most people you believe Tuesday. You'll see a different site out there a a the copper you he dated back to you spoke. You know other me eat it if there are a tiny bit like that it's really like the equitable and Iraq in his state and not make it you know you know you get it back there on autumn and so they are back as well. And where you're going. You know there's not that it. It's not right there and they shouldn't worry about the date. There are so engaged to date doesn't matter what about the on a Sunday than it is on Wednesday. There that that makes the difference it actually. Yogurt it when you think about being a bit yeah it is trying to or are being. In the days that you wanted to validity. Of one big sport and it being in that area hospital and. We will be all you know and I are are being giving a bad deal but that. Arts and so I final question just. Your last question it's an easy one. What are some of the secret tools that are on the web that we can use to find bargains. Made the ones that nobody else knows about. Or we won't tell anybody. There's an hour to actually record police and what I'll let. The bill would. You know it's a billion top. Where. Public I would have you been Pamela. Hopper had the what's school. And I'm a or a building where he won. And you're talking like it's pick your go to Chicago he could say why don't mind if I go to mid weigh it verses O'Hare type thing is unique. I'm a bit more spoke perpetual duty. You know in general at the top Burton who will play. People each an upper right in order yup pretty light and outdoor or you. So what was that reflects thing called again flexible yet caught a flood watch to your and it's on hopper. Copper and then nine. Quote Nike gave it CE give us a secret now we're we are gonna get bargains this Christmas thank you very much just should aren't great. You know it it it seems like this changes all the time to aid that we do these interviews. Every six months and he's always and it is it's harder hearted fun to bargain generally health advice. When Dave Bush is bad for you next it's good for you cigars are good for you we learn copies that way we did learn that. No we didn't know until we get cigars. That's been discussed on the show preacher a doctor said cigars or some juice into a bar and knowledge that. Anyway Larry you tune in tomorrow because love Larry Kudlow joining us. On the financial exchange.