Oct 20, 2017|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and chunks are now. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Well now that the senate and house have both. Pass there rolled 2018 budgets this bridge to write a major tax bill is on. Hi everybody it's. Berrian might with you here on a Friday morning. And it is on to tax reform. It is we are we are. Pushing it through as quickly as possible we have gone to the budgets like you mentioned civic and fast track this they won't need sixty senate votes that you would normally need to get through a simple majority. We will see well in what it does is it and I want people understand eat yet there's going to be. Significant. Increases in the deficit during the next ten years. As a result of these tax cuts. If it and in I don't want people to be concerned about it because it's something where. You know each party now and what's ironic is. Now you'll have Democrats railing. About an increased deficit. It it it's whoever is not in power thinks that deficits are bags and whoever is in power. Deficits are okay and ended and and it's just that the irony of politics. On a side note. We did get existing home sales data just moments ago. And they were up point 7%. And an annualized rate of five point 39 million homes to be sold for the year. Beating estimates of five point three million. I I like. Existing home sales numbers to be strong because the sooner you get through existing inventory the more likely you war to have new construction. That's dreary we have seen him prices obviously spike in Torre's weight well I think it's significant piece on increase during a pretty. Rough month her for weather issues right now I mean right job Texas Florida Puerto Rico all have these BAB hurricane issues and you still saw a slight increase in existing sales so fairly significant number of them yeah point 7% it's it's it's a nice but not hugely significant interest. Bodes well for the spring market you know UST get to September. October sales are still fairly strong November they'll start to. Quite down and then really the quiet months for real state especially in the northern part of the country. Will be December January and February those three months. Are relatively. Quiet on on the real state front and then in March starts to heat up again and yet that's spring market going you know and and it will be curious to see what we have who in the spring market one of the factors that will influence the spring market is where Amazon decides to make their headquarters share. I mean I don't have a huge localized effect no matter where that stands out nanny and nationally it made a big difference but yeah net net it's going to be. Huge impact averted here in Boston while every every New England city is on the docket today you know Rhode Island at seven locations put forward. Connecticut has several New Hampshire is in the bidding war I mean it UNC did you see New Hampshire is dead. It basically in New Hampshire entire civilized and socks and you don't wanna be in boss it's terrible if you're worried sick and travel after. Because it was a pretty bold strategist. Just go and after Boston is being completely negative in Boston mr. and it betrays MIT and Harvard there are a list of colleges but I'll tell you the the points they make regarding Boston traffic Boston traffic issues getting to the point it's untenable. Yet he is. Going in it used to be you know he'd go into the city for dinner unity bike and sell its own city on Wednesday night for dinner. That that is no longer fun. You know Uga to try to go in for 7 o'clock there again is just not worth. There there should be traffic going in to Boston on Saturday 2 PM. Repetition me traffic ever it's a Saturday in Boston and nice people wanna go. It's like rush hours doc I forget it ain't going to Boston but I mean the 128. Well caught me tell you hit area there is traffic on that thing on Sunday nights at 11 PM that it is not that there. Awful it's time to talk about your 401K plans and the reason I bring this up talk about 41 K plans and raw diaries. The limits is to how much money you are allowed to deposit. To your 41 K plan on tax deductible basis. Have changed they're going up in your twenty team in year 27 team this year. You're allowed to put 181000. Dollars into your 401K plan. Next your Michael you're going to be allowed to put 181500. Dollars in here for a nice little bump for it when that's matching up their four K keep in mind that numbers also higher if your of the age of what fifteen. Sunset so that should go up I would assume that'll go up to 245. In addition to this for eighteen to 185. They didn't increase the limits on diary country should delegate prize they did they didn't. And one thing I would suggest to you young bullet meals. Is that. Try to maximize. Your contributions to your world needs now while you're young in the the more you put in to those plans today like your in your twenties in your thirties the more you'll benefit when you reach your fifties and sixties. The time to put money into those appliances when your in your twenties and thirties. There'll be times we get that job loss. You could be a situation where your pain a lot of tuition bills though that kids use you might have children. And in those instances eat it it's tough to maximize. Your four game that's why suggest. You'd do as much as you can. Early because that compound. If you're if young if your kids or people you know do not understand compound interest nature they understand it and in a Dartmouth for a case if you're young in your twenties and you're not earning as much as you expect to be in your thirties forties and fifties very seriously consider rock. It varies especially some some forward to provide some companies have a sponsored rock through the 401K. If he had that option available to that's huge issue. Let's talk about the rock buyer you're allowed to deposit 5500. Dollars to a row and last year over the age of fifty in which case she deposits 6500. Dollars. And here are the incumbents because they too have changed going into the year twenty team. If you are single and you earn less than 135000. Dollars a year you can make a contribution tax free contribution to a higher rate. And if your married filing jointly. Ye and you make less than a 199000. Dollars you can make a contribution to wiry and attack three days of that for. Betterment soccer deal for America. What. You'd get married and some year contribution advocates yet gotten 70% now. Marriage penalties and be happy. Or tax. The docket again there about him tired and happy I just remember remind everybody over the age of fifty. You get that extra thousand dollars that you can contribute to your rock Meyer fifty is the break point. As to where you can get that actors dollar into your four they are in your rock excuse me. Let's go to our poll question today do you Max out your 401K. I do and I have. I I learned it young need in my twenties I started maximizing my four point gain if you do that I promise you you'll retire rich one. Financial exchange showed up on it need to exchange showed dot com. To participate in today's poll accident out you got to Max it out they still very strong suggestion. A federal judge on Thursday. Sentenced Thomas C Davis the former chairman of Dean Foods to two years in prison. For engaging in long running insider trading scheme with legendary Las Vegas gambler. William Billy Walters every year and I remember this story is only two years ago scheme that was a pretty wild story I you have about this yeah I kind of escaped me back now looking back I remember you have not seen. The CEO and chairman of the league company like this. Beats Ole miss guessing involved in insider trading scheme and a very long time I would think since the Great Depression. Well he was owed you head office that and stuff. In a big way back in the 1980s. Mr. Davis whose sixty years old pleaded guilty last year to twelve criminal counts including securities fraud wire fraud obstruction of justice and perjury. Mr. Davis cooperated with prosecutors. And test at that five for five days at mr. Walters trial as the star. Government witness. Mr. Davis going to jail. And mr. Billy Walters need 45 million dollars in profits. Based on the insider information. That he received from the former chairman. A Dean Foods and he's going away differently five yours Billy Walters that idea mister Rogers convict and I'm and then federal judge earlier and sentenced to five years in prison so obviously you know you purchase spirit the FBI in new. Movement time off your sentence that's the you know. That we you're a mean how much do you think you must be making it CEO dean for release it chairman Jerry difference is the chairman of Dean Foods. I'm sure he's very wealthy. He's the may I don't know what happened because it didn't seem like he got a lot of I need to gain from it now and he did seem like I think where the money was going was to gamble. And he had gambling sounds like it and they don't talk about that but my guesses. When when you peel back the onion you're probably it'll earn. That the former chairman at a pretty severe gambling. Dimension prostitution problem Padilla has been mentioned the prostitution from his third wife is in the process of divorcing right now the only thing they mention about the compensation is that Walters made two loans for a million bucks apiece that never got it right. That was his competency. The IRS is going to block in suspense of tax returns next year will tell you why when we return. To the financial exchange. 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 jog on the financial exchange radio network. 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 have you done about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are 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 in all six New England states and offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com securities offered to securities America incorporated member of an SIPC and advisory service is up with the securities America advisors incorporated -- -- are represented their arms -- advisory group in the securities America companies are unaffiliated. Hi this is very are strong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an on -- 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 be for the rates changed get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Hi everybody it's Barry Armstrong and Jake two Lian were talking about a program called Z rent. Now this is specifically. Designed. For those of you who wore landlords and used to collector checks. With paper checks are gosh maybe still do will zero rent allows you to collect checks electronically. Jail is hoping he could spend a little bit of time explaining how easy grant works and why it's a big advantage for landlords to. It varies so we we develops the rain to automate the Holdren gas because right now. You know with the landlord when you're getting rain checks. It's low it's unpredictable. Missing envelope the great line mostly waiting he might not get all the rent until the tenth or fifteenth of the month. 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All right if you wanna learn more about easy rent. Go to Z rent dot net you give McAuliffe he wanted to 8776917900. If you're bank doesn't operate they can sign up for zero. Go to zero rent dot net or call them told free. 8776917900. Security suffered through securities America Inca members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. The Internal Revenue Service in any new policy. Says it will block or suspend the processing. Of 2017. Income tax returns from. And that do not comply with obamacare rules. Requiring tax filers to disclose their health insurance status this is gonna catch a lot of people. Do you think this was so what they do before to enforce this. They would you were supposed to attach proof. Yet that you I can remember I've done it every year to Internet Hanover Insurance or what were they doing to catch people before they would they would still process your return before and now they're saying. Yeah we were so in where it'll catch you. Is he might be entitled to an 800 dollar tax refund you're not gonna get it in this league is English you comply yet resolved the penalty for not having health coverage for 2017. Is higher 2.5 percent household income or 695 dollars per adult. That there's some fees for folks under the age eighteen as well so yeah. Yeah you don't get that health insurance that's going to be pretty expensive although we'll see what health insurance premiums are next. Every city in the country has put in a bid seemingly except for San Antonio. To get Amazon to relocate their headquarters to that city not relocate that is open their second headquarters agencies to HQ to thank you. Let's talk about Boston the and and they what they are doing. It sounds like the lead candidate in Boston Suffolk downs you mandated. Feel that I think seventeen page di tale with snapshots of the area. You know. How they're gonna detail it and what they're gonna do there's there's definitely its descent the area 161 acres they can do whatever they want yeah. I mean you know they the focus really is on a few things rate. One all of the colleges and universities around here you know Amazon wants that brain power MIT Harvard business that is different schools that are put employees. That wanna work in Boston where there are hiring kids raiders their hiring 800 people right now. And these are high tech programming jobs in the recognize that these kids on who are in large part coming out of Boston. So I mean the key for Amazon. A few keys one tax cuts they definitely want a big tax cuts. Q they wanna be near an airport and three delicate public transit. Votes Suffolk downs you're near the airport the public transportation is in great right now but the hot to improve its outlook are the infrastructure employee who would have to agree to the it's close to two. T stops but you're right that your who wants to live in the suburbs and trying to Suffolk downs it's not be at least not right now if you want to enter the commuter rail. To south station and an opportunity to mean I would think that for most places on the theory you are plus commute to get so that could be wrong. But I think your prime and that this might provide the impetus though. To make some of these major infrastructure improvements that have been needed for fifty years. So my question is how long ago and beat until we figure out what tax incentives. Now they're pretty quiet on the the Amazon has to sign a non disclosure agreement meaning that not a lot to fess up. As to what will they offered by leaps right. Subsidies that game come right out tell what are put in their proposal they publicized with their offering. Newark, New Jersey offered him seven billion dollar I mean is that enough federal lose in their desperate as opposed to elements that the and I mean if you're. I don't know the Suffolk downs there very well but I'm thinking back to the G example you know they went right down that seaport location. He walked the streets there you see you know tons of young people going to work. It's Africa is gonna have that I don't know if there's I mean you'd have to have some really serious infrastructure changes and three serious commercial development in that area to make an attractive place to work well business again. Let you that what happens is all the sudden win becomes much more attractive East Boston becomes much more attractive than that whole area. Would go through. A massive. Transformation. You out immediately so the the ten mile radius of Suffolk downs would train be transformed. It it's already got a little out of Iran but hasn't linearity started that process of kennel like improving that count you out to us now and that. With this would do is accelerate that. You know you'd you'd see. It and you know the the knock on this type thing is that. It forces people out because all the sudden Lian would become unaffordable. Revere him becoming Obama unaffordable for a lot of people and the that that's the the downside. To winning this sweepstakes is that you know what happens here you know what it would appear firefighter right near Macon eighty grand a year. You mean outlaw no longer be able to afford to leave that to get. There Winthrop Kelsey all the surrounding neighborhoods could see a pretty significant change. And I mean where would you put the likelihood of Boston yanks like this every top ten now under you know who knows exactly who does the you know everybody says that they know what guys are they heard this or they heard that. The the way I found out about the GE deal is I heard from realtor that commercial real estate agent then he has done deal Boston. I have not heard anything to that effect. He as a relates to Suffolk downs signals mean the we have no studies that we do know though the what Amazon's looking for. Airport access good airport you know you could argue that Boston's port and some would argue it's not. The 160. Acres this is a 161 acres that they and do whatever they want with. They won an educated workforce that can that be the best thing to remember. Is the most highly educated workforce in the country. Is right in Boston V justice in and you can't debate down trying to think of the other areas that compete with that. Today that that specific factory but it does so well and silicon the only to a place that could compete with that. While in New York the New York is going to be a strong candidate and yes it is certainly easy they are. That the problem for New York is where do you find 161 acres and I. We just easing its next impossible you don't speaking of local companies Watertown based a Fina hell. Will be laying off about 500 employees yeah you know they have a new activist investor that's taken about a 9% stake Paul singer Elliott management you know he's off in the news taking these activist positions. So they're announcing they're cutting about 500 jobs. Unclear where those jobs will be coming from obviously they have a lot of jobs here in Massachusetts but they also have a lot of jobs and mean Texas Atlanta they did mission they're closing offices in San Francisco and Princeton new Jersey's notice presumably account for a number those job cuts. And we'll see if that you know impact Massachusetts workers who and the people in Watertown a little concerned because they are 232600. Employees just in water to. And there. They're they're building out that whole arsenal mall area and and making substantial capital investments and they too. Have received. Dina help. Has received some pretty substantial us tax breaks they have although I don't know the details of these tax breaks but they were very specifically contingent on expanding network forcing water so. You know you're eliminate 500 jobs he said any of those tax incentives. I don't know I'd have to look at the details we'll see. Lou we'll see where those job losses occur. But 500 jobs being eliminated and the health right now. The Dow is up it's in record territory up 71 points at 23234. Nasdaq's up 48 point eight crude oil trading at 5121. For her. It's very in my. From the financials dangerous enough. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. 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To 900 or email -- BO at leader bank dot com for more information member FDIC equal housing lender. Time now for Wall Street 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. Markets are generally up today mainly on earnings few companies have reported so far. Big in the news today little company called Skechers Skechers be consensus estimates by sixteen cents a share sneakers jeans and sneakers and just shoes in general. But this amid you know you've seen footlocker and all these other companies really really struggling the stock is up over 30% on their earnings reports are big day for Skechers. PayPal also company he had beat estimates by three cents a share. Revenue beat estimates as well you know that stock is up in another while. He pals and up five and a quarter percent today after its nearly doubled last twelve months and talk about two companies going eBay obviously initially spun off PayPal. He gave really struggling since they spotted off and PayPal just through either but people forget that peak oil. Company. Three made his money average that's right. They good news to Rick report on the polling. We have a poll question today is do you maximize your 41 K contributions every year. And our poll can be participated in by going to our web site financial exchange showed dot com 58%. Of view. Arm acting out your 401K good for you 41%. Are not. I would suggest you try to Max it out if it all possible. Bond yields fall suddenly on a report that Powell is in believed to be the next bed sheet. As a Powell currently on the Fed board of governors use action is a Republican there was action appointed by Obama now Jerome Powell loses number name. And it's. Generally see I think that consensus Michael is. That he's very much like Jimmie he'll dazzle a great guy he's voted with her on almost every move. And they kind of work lockstep and you know if you are. Everywhere to critique the Fed when they're nine office rate when their running for president they wanted to throw stones and set out issued raised interest rates higher faster which. Think they should have been now that. You're in the office and you're looking at elections in a couple years next year you think in a careless ones that keep rates as low as possible for as long as possible. That's my theory here. Quality yet the other op possibility is that he just leaves Janet Yellen in office he interviewed her yesterday. Reportedly the meeting went very well. He vodka seems to have a close relationship with Jenny on totals team unity loss and I mean it just you know magic history here. It's been longstanding tradition as you leave the Fed chair. In place in no whenever changes that this is the first time and I think. A very very long time and it changed the pitcher now. Varied different administration. As well so he likes change she likes a little bit turmoil in fortune and a death. I eat it right now anyway and we will probably know I I would think we'll go by the end of next week's a week from today. Would probably will be reporting. On who the next thing I think the the other one that's really in competition is that John Taylor a Stanford Stanford at the promise he super hot. Yeah he wants to raise rates Upton. As might say I'm just talks might. Like them I don't think his head leases advisors can't match and beyond or diminution does one you know they admonition doesn't want him meet as well work. And Lucien wants how they they can work together. Hey don't forget. On November 14 the financial exchange will be broadcasting from Bertans grill it will be talking about. The stock market correction is their stock market correction coming come and learn what our theory is on stock market corrections. If you'd like to join us space is limited at the special event so register. Called now 803934. Zeros or one to register. For our Bertans remote broadcast and includes lunch by the way Lou will broadcast from Ted till noon. But then will serve luncheon noon and then all of a nice presentation for. Again it will be held on Tuesday November 14 come on out and watch the show starting at 10 AM as we broadcast live from Bertans grill. In Burlington Massachusetts Bertans. Grill your life. For your style our food that is this event will fill up quickly so call now 803934. Zeros or one that's 800. 3934001. For a quarter of Americans. Owning a car may be obsolete might be better off with lift ban it or Wilbur as opposed owning your car I think a lot of it depends on where you live. And walk and driving absolutely and I am but man Nabil bit nervous broader idea auto manufacturer with this data plan. What do found that the average price of a car and it was 35000 dollars in the states the average Americans by 35000 dollar car. And those vehicles on average are only used about 4%. So 96% of time there's an in your garage not new and just about right. So you know the general theory of that was that you know if you drive less than 101000 miles a year. You're sending traffic for a lot of bats and you value your own time. And you're probably better off just different financially right. The problem is you know in America since World War II Motorola car you know it's been a definition of being an American. The thing that's gonna change all this. And right now the costs are winning if you're driving less than 101000 miles a year yet ten to thirteen thousand miles a year you know. It is. But the imagine Michael what happens to the cost of Hoover and lift once they go robot the and you get the van venue could be talking about. Like the danger I have to question why people are an old cars at all is yeah unless they're driving those cars. 8910 hours today I think you're gonna see that car ownership really goes by the wayside which may choose just imagine. If all the parking spaces and imagine all the Holmes at two to three car garage as it. You don't need those anymore. Here's it was so with that here's an idea for a poll question next week tegra I want and I wanna poll how many of our listeners drive more than 151000 miles a year. Yeah who I'd be very inched it and and because that's Canada thrashing they say you know if you buy a car for less than 25 grand you drive more than 151000 miles a year and you're gonna run the thing into the ground. Then definitely on a car. That's that's right except cheap. GE reported this morning in holy smokes this story in General Electric continues to get worse just in street and worse and worse Odyssey at the new CEO in Danny's. Kind of trying to turn around a bit of a and it's caught in the sinking ship unfortunately in. He referred to it as having major expense problems and bad to actual. ATV and a big thing that's concerning investors. Is the sanctity NC the weather that dividend is going to be maintain like right now if you bought that stock for. You buy a Iraq believe that you can buy the stock books for less than 23 dollars a share right now. GE. Can they hold that dividend are they get 40%. Over 4% dividend rate really question whether or not for long unless there's a big turn us answer its own business used to fund it and November 13 is when me are going to unveil their business plan going forward and I I think a lot of people are concerned the you know a lot of a lot of retirees on that a lot of people they used to work for G and I think a lot of it I mean into a network of energy idiots you know a quarter of their portfolios. Please use. You see people that bought GE or inherited G and it's one of those stocks that they were told never sell the stock rate it just keep the stock in perpetuity. Well the company. You know it's it's becoming increasingly evident that Jeff Immelt made some very bad decisions when he was CEO of the company was not a good Steward of the company. And I guess he goes back for that I mean you just got this this. You know mentality at this company you know we are the great American company yup and we can never fail I mean. I susteren the other day about things CEO before Jack Welch Jack Welch would fly his private jet and have another private jet flying behind him in case has broke down. I mean what is it from now well look at it wasteful business practices over decades has led this company to be fat. There may be some people in some investors who look at the stock and sage is is a buying opportunity for G it's still strong company I. I haven't looked at the company hard enough to make a decision. As to whether or not I'd buy it but you he could be like trying to catch a falling soared yeah that's always a concern is you know you look at these. If you called value traps. Its looks like it's a really cheap stock island to cut its dividend in net does monks are cheap and that's right they coming up next we will be joined by Marshall Allen from pro public. We'll be talking about eye drops so would I drops in just medical waste in general medical weight are wasteful medical spending that is next from the financial exchange radio network. Trumps administration hasn't passed any significant legislation yet but tax reform is front and center passed me in here. Keep it here with Barry in charge for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio network. Retirement it's something we all think about and all of us look forward to it after many years of hard work but are you ready for mentally perhaps but there's much more planning required if you wanna rest easy in your later years hi this is very are strong and this month my firm the Armstrong advisory group is offering a brand new guide called retirement readiness unit you'll find information they can help educate you on what steps to take to enjoy a safe and prosperous retirement such as how much money you'll need to maintain your standard of living and don't forget about healthcare costs and tax considerations it's all in this brand new guide which includes your own retirement readiness checklist you can get the guide by going to our web site Armstrong. By injury group dot com that's Armstrong advisory group dot com learned today so you can plan for tomorrow download the guide right now at 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 American companies are unaffiliated. 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 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 -- -- -- is a regional firm and we are looking to grow our business through acquisition we will consider both are high days and transactional oriented firms we have a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they have become accustomed if you're interested in talking with us please call me at 803934001. That's 803934001. Or visit us online at 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 strung advisory group in the securities America companies are unaffiliated. Everybody it's very are strong and I'm joined today by estate planning attorney Todd lot ski from the law firm of Cushing and dole and I were talking about drafting tips. For York Medicaid income trusts. Todd you know I keep reading. Almost on a weekly basis about stories worst states are challenging. Durable global trusts and Medicaid applications. What's up with the increased scrutiny on these trusts. Yeah the problem is that you know many more and more people maybe are trying to draft him more more lawyers are trying to get into the field that that may be arms race that 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 'cause 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 troughs and see if there's a way that we can find a crack in the ice well makes sense now. Whipped eight 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 accountable that's. And exposed to the cost of nursing home care so it's a big deal it is because 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 8668485699. 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 chuck is live on FaceBook and YouTube every morning beginning at ten this is the financial exchange radio network. This segment of the financial exchanges brought to you by leader bank if you're looking to diversify your portfolio. Precious metals very Smart investment. Gold and silver bullion coins are now available. And all leader bank locations call 8776917900. Or log on to leader bank dot com for more information. Drug companies make eye drops too big and you pay for the waste we are joined by Marshall Allen who's written an article on you know waste in the drug industry and how it's impacting all our wallets morning marsh and join us. Good morning right so if you have a number approximately how much money. Are we wasting in Madison on an annual basis derby if you can specify a size certain types of drugs that be helpful to gimmick guesses here. Yeah so it and it's hard to nail this down I mean my Torre looked and I dropped and specifically. What I dropped the glaucoma. And dry guy market it brings in about 3.4 billion per year. Two drug companies in the United States. And I dropped you know they're just making them too big for capacity so. As much as half of any eye dropper many eye drops and should say is wasted so. You know it's hard to stay with the ways things are raised exactly how that would translate into ways you know a lot of the drug wasted. What cancer drugs I also looked at those. One study estimated that were wasting about one point eight billion a year just because of single use cancer vials. You know that's that's ensure we talk so much about how pricey these drugs are how it's bankrupting this country how we unionized states pay way more for drugs and other countries. I don't often hear anything pointed to what the actual factors aren't that is leading to a spade you know a lot of it is really just getting wasted and flushed down the toilet. Well there's a lot of factors like you mentioned and I'm focusing just on waste in medicine and elect the waste and I'm talking literally wasted as good getting thrown in the trap when Cutler faces when I dropped from number I. And this area where I feel like there's the most opportunity to make a change. Because it's really a black and white issue we all agree that we should not be throwing good medication in the garbage can. So this is the type thing that could be changed. Why are pharmaceutical companies incentivized to trade disaster when it. Why won't they respond pretty positively to you know to some news like this. Well wait for we're getting word but it actually revenue or profit for the drug companies that make these drugs so you know and they're not really an to reduce it about the workforce to buy. Tram if word if were and you know half of that I dropped his rolling down Archie you were paying 200 dollars per bottle that I guess that's just more to their bottom line. They had in the have to buy more bottles into the Ohio don't last that long so it definitely is something that increases sales so. You know I've focused on the drug maker ALCON created what they call them micro drop back in the early nineties. Note about half the size of regular drop it didn't waste any medication. But they didn't bring it to market because they couldn't figure out what it would have to do with the pricing you know what they have to cut the price in half. What they get criticized as they kept at the same price and so they ended up just killing the whole project. I saw another one in there where you mentioned that they've one of the companies had Q. Could saves in save some ways I raping an aluminum and foil or something like that. Yeah that's the same thing with al-Qaeda and got criticized for doing that. And you know that the cutthroat business companies are afraid to make too many changes sometimes. You mentioned we have frightening statistic that I signed your article which leg I suppose makes sense but what is the relationship that we see in this country between cancer diagnoses and bankruptcies. But it was incredible yeah so you know I think that this what leader twice as likely. You declare bankruptcy if you have cancer diagnosis so it really is their relationship better and I just looked at the truckers Upton. And what the average percent and those they just switched from a multi used while the could be shared so there was very little what is. To a single use while they just made this change a few months ago. And they estimated at one cancer center that it was gonna cost the average patient thousand dollars more per infusion and they get these confusion about every three weeks. So while you're trying to fight cancer are getting built about a thousand dollars per infusion. For drugs that are literally going in the garbage can. Well you know these are the inefficiencies we really really hate to see but and you know hopefully just drawn some attention to it can. I don't know what they've we've been trying to obviously it's been trying to make changes since 1990s we haven't seen much within the like era saints haven't changed now. And I think I think the thing is we're reaching a breaking point here you know individual and ways company is that our our our economy. You need just can't have health care consuming one fit that the US economy like it's all it's almost reached that point. So we are reaching a breaking point where people are starting to ask different questions and released we were not accepting this war. Marcy said we rip it represents a fifth of our economy. We were at about 18% right now but we're approaching. OK so what does that represent in saying I don't know France Canada Australia other countries that have. Similar cultures. You know I don't I don't have those figures but I do know that we fail twice as much per person in the United States than they do and any other developed country. It. Gives you an idea that. Well marsh thank your for this article to us appreciate your time and you know an accident. I. Marshall Allen from pro public it does make one needs like we're spending I I knew the number was high I know I was look at it relative to can't. In Canada spends about half ovals we do. I don't use the the flip side to go like is. The all the blockbuster drugs are the vast majority the blockbuster drugs that are created around the globe are coming to the United States yeah a bit. Mean so we're paying twice as much for coming in the United States so we are inventing them and subsidized and arrest the world. To pay for. Well or one could argue that we're inventing them and then we get to market. Around the world. And you know we we charges such as we candy you're gonna get less for it a cancer drug. In Africa in you're gonna get forward in New York City shares at a solution vision get less poured in Canada France the United Kingdom Austria. Right. About it be itching to one actually the the there's a hole. Whole grain debate it's occur any you eat you had the Republicans trying to deal with the health care issue. They were unable to domestic and even within the Republican Party could come up with health care and I think you can make the argument yes United States by does have the best health care in the world. But it twice as good as anywhere else and I go out even harder Lotta people would debate whether we have quietly now. I talk to Europe to explain to us what speech fixes and less likely you're aware that explains that gulf. So stitch fix is one of the few companies that send you basically close this personal designer you answer a few questions. I would assume that there for dominance customers there's a women but I don't know. And used a lot of question year. Given your eyes and they send jets it's in the mail if you like me keep them if you don't like him sent back. And it's at forty dollars stylus free. It stylus to sum it actually picking up these outfits based on terror go through like a whole question here your style and you talk to normal phone and so. There's a human input source you tell what are you gonna is about us. They talk to us I go online you fill out a question here about the clothes that you. You would like to Wear via a stylus looks at it talks on the phone. And takes out clothes for in and do X and ailment. I'm I think it's more so women but yes they are pushing for male. Demographic. As well and indeed pay twenty dollars every time you buy hold serve and ice is on one city you pay one fee for a style and you pay every time you get close and they then they merely closed and you know like mail back where he you do for carriage for what you keep and you. Mail that which in this is this is a business depth. And yet the one that if the one that's bankrupting Nordstrom Lord & Taylor and Macy's. Something's a subscription bottler. Some things I just don't understand they just I'll leave it at that. Despite what the story picked up close. Anyway the Dow's up seventy points or 23233. The NASDAQ up twenty points. Price of crude oil is up seventeen cents a barrel at 5146. It's very advice. From the financial exchange or unit. 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 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. Juries are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917. B 900 or visit leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject credit approval leader banked a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank there's jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and Miller number 449250. Subject to 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 have you done about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we -- 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 offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us all I'm at Armstrong advisory group dot com securities offered to securities America incorporated member of an SIPC and advisory service is up with the securities and. Guide to retirement planning it's really important that you do this before you retire. When I talked 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 aged differs depending on when you were born as an example if you were born in 1942. You're forced firemen age 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 guiding again at stake in the guide for retirement readiness exclusively available from Armstrong advisory group. But as a relates to Medicare. Each state we've listed on the in the guide each state and the website that you go to for each state to calculate your Medicare program in which what's best for you. Yet differs depending on the different states and you really need to be cognizant of this when you're building your retirement plan. Well the folks again. Just to reiterate this guide is available exclusively from our strong advisory group it's called an investor's guide to retirement readiness. You can receive the guide by going to our web site Armstrong advisory group dot com only available online Armstrong advisory group. Dot com. Go now Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Whether you're celebrating a milestone or diversifying your portfolio precious metals terrorists are 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 probate. And in order to make sure that your process goes as smoothly as possible the need to deal with an expert Tug 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 to hundred no brand new guide called designing the perfect income only irrevocable trust. And 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 does come legally 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 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 -- -- 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 -- 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 online so logon to leader -- dot com right now -- leader bank dot com -- -- a step ahead. In new. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your. Day you're sick leave your world and stay informed and up today about an economic and market trends plus get breaking business news every day. And now the fun did you exchange with the very Armstrong and chuck son. When you get to next spring in April of 2018 I think you're gonna be able to see a lot of these Tesla model threes on the road in New England. Here's a few of them on the road now out in California but I have not seen a model three. Anywhere in New England I everybody's Berrian like with you here on a Friday morning and why are we talk about the Tesla model three. Well consumer reports suggest that it's going to be average at best in terms of reliability. Yeah I mean I didn't realize that that they had been ranked so low but the the test is still ranks among the bottom third of 27 brands. With just. Big struggles on reliability. Particularly the cross over the new model Erdman has them acts. Model X which is our issues be they call it an SUV which I it just almost looks like a Volkswagen. Beetle. To me but it's. Eat they struggled with that when the Sudan was a good seller the bottle last and they decided to come out with them the model X I think that was a mistake we'll sold about. And so far I think that 101000 of them on the road but yeah you're right they do and the stock was recalls on those things. Pretty regularly you know I think one and one of the area a couple of their vehicles and you and AB Astro wildly on Mac braking systems they answered to repair there are a couple months. So I mean it's a brand new technology it's a very small car company and guess I'm not surprised as having issues the differences though with this model three normally would a company will do which Chevy did. For with there should be bolt for instance. They put probably thousand of them on the road for anywhere from six to ten months that people were driving their employees were driving these cars around. And using them on a daily basis to work out the bugs because. Eat you put a new car on the road they're going to be problems the big question is. When they put this model three on the road and they start making more than 200 a month of them which is what they've been making so far. You start making 50101000. These cars a month. How are they going to perform to big question mark. Could have a negative impact on the stock the stock today by the way is down one and a half percent or five dollars and 26 cents a share at 346. Lot of people have lost. Millions of dollars betting against this company again I was going to say I mean these things have caught on fire in the past the stock price has gone down but yeah I mean it's got I think he's got the most short interest of any. Company out there as I believe it's up there anyway most people shorting this stock. Most any company out there that man look at that that stock prices stream. To 57 billion dollar company but they lose four dollars and 85 cents a share and there's nothing on the horizon that tells me they're gonna start making a profit now. He's no indication at all that there's profit on the way. Well in Connecticut we have a budget plan that would acts the car tax. And require teachers to pay more for their pensions this is going to be very under unpopular. In the education sector the and that's a pretty strong union in it and really in any state but yet you're talking about getting rid of investors react the car excise tax and that's what they're talking about getting rid of here and they would be requiring teachers to you know increase their contribution to the pension plan about 1% partner right now assessing percent to they're gonna bumping up to sentence though. I mean yeah they're gonna get some backlash they are the also increased Connecticut did. The cigarette tax. Highest in the nation tied with New York you know and and what that tends to do. Is it creates a lot of bootleg cigarettes near the end up happening is you'll have a via a Ryder truck driver and up from Kentucky. With with a lot of tobacco there cigarettes and notes album on under the black market and that that's one of the downsize to have in the highest tax. The they did eliminate the car tax which is the that that's a big deal diplomats a lot of I don't know what it wasn't Connecticut but I think it would what is your excise tax your parent I don't know that it just tears of pain Ian comes in union you'd you know just NG just because I own a nice car gonna pay a 300 dollar accessory -- aren't that tax would be on the way out foresee America I mean this has been Helen's Benson's Connecticut passed a budget. Years and it's been very very long time so well he's expected there it effected their credit or they did offer money to help Hartford through their struggles. What I liked about what they did was they said. Will give you I think it's twenty million dollars but it's with oversight to make sure that the Mansour aren't in here and watch how it's done your required to refinance their other dad and really you know take an embarrassment of you know people forget that. Back in the eighteen hundreds Hartford was one of the wealthiest. Cities in the country back in the 189019100. It was a very wealthy cities sure falls along way. RJ also known as target is coming to Vermont and here's what's a big deal well it's big it's a big deal because they had shut down backing Torre twelfth they wanted to opener you know open a store South Burlington and obviously you know if you've been to target you know that there are massive and the owners said. Now thanks don't want it rare non interest it. So Vermont's and its artists. Taking a new approach. And nationwide urging new approach they're going to be opening up some smaller stores in Vermont. About half the size of their traditional start ups and now beats and see who. If that's in Burlington right that's going to be I think just outside of Burlington. In Rhode Island has made seven different sites available for Amazon's HQ to. Seems a bit of a longshot to me I don't needed Pete people say that the F just. I I wish I could get inside the mind. Of the people making this decision and Amazon and try to figure out. What there you know everybody. You know we'd we'd point to all the benefits of Boston but you look at the benefits of using a city like Providence or even Fall River in baton area. That Providence airport. Is a really nice airport I was gonna say. Products airport is under utilized. And they have access capacity and it is a pretty nice airport got a very educated workforce in a much lower cost of living in you would have if you went to New York or if you went to Boston. Promise you don't have that education system. You do not have some a lot of big technical schools in that area well this thing you have though I think the the argument could be made it. Your close enough to Boston. Where you can do the reverse commute you know he could live in the city and commute to Providence to work for him as. The UK and the Austin or no public transit that's kind of a long commute. Now so us on a provenance and don't look like it edit my wife went down to us mr. Dowd served two years and it is it is a commute into an hour plus. They arrived after what the other business. We want public transit is there a subway system in Providence. Is there anyway edited tape the commuter rail from a Boston and it and it depends on where they where they go in Barad island is not necessarily in Providence and he could be Woonsocket could be war he could be north Kingston. Mean there's. Putt pockets. You know a billion there I mean if Rhode Island offered seven sites are basically offered up the entire state. Literature. And you know 760. Acre site that's pretty much the area era is stranger things have happened just leave it at that. The need the market rally a lot less trading so the market is continuing to rally debt markets up today dollars and 75 points. At 23238. Volume is fairly low when you look at stocks being treated. And a lot of this I think is passive money coming into the market people adjust and largest. You know the they're putting money for a one K plan and it's just going into an index fund I mean how many people do you sat down with an over the last decade has shifted most of their money from today. 22 I'd be a mutual Fidelity Magellan sponsor American Ian. Income fund of America and Justin and forget this I'm just gonna move this all into you know the vanguard S&P 500 index. Which trades. Maybe ten times less than one of them actively managed funds rate. But this shocking part is how much of a drop off you've seen in just twelve months then that's when and that's where I don't think you can attribute that sort of drop off just to the active to passive management now. Of the part of the promise. If you're an investor and older investors like me. And you've bought stocks you know we've accumulated a stock portfolio. Over the last thirty years. In your look and it valuations you might simply there are awfully high. We don't wanna sell I I I find myself in the squander all the time a look at a stock that I own and say well. You know it looks expensive but I'm not gonna sell it because if I do I'm gonna have to pay him close to 30% in tax and that's. That may be something that's bolstering the market the fact that people are reticent. To sell their stocks because of the amount the high amount of capital gains that are baked into the stocks yet while they like you're seeing it in bank earnings and every every bank earnings call that we cedars and while we're just making nothing on trading right at gate B declines in trading revenue which is traditionally ban. You don't like your Morgan Stanley or Stanley Jack in Orange or Goldman Sachs all these big banks bank America that make a lot of money on trading historically. You know there haven't relied more on their interest earnings richer meager. Not too great so we'll see how this impacts the banks in the next few years. Well there's a lot of companies that are offering discounted trading free trading so it's it's causing all of them are dropping their prices are you know yourself fidelity of eight bucks to five bucks I've done pretty much everyone follows suits. Yeah it's it's tough environment if you're making money on those trees. Up next are we talking about real state was George wreck to. From the National Association. Of Realtors. What's the real estate market look like now and more importantly what's it going to look like in the spring of twenty team real estate up 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. It's been an incredible year for stocks with the Dow NASDAQ and S&P all reaching high water marks yet in spite of this tremendous success there remains concern about a market correction hi this is very are strong inviting you to join me on Tuesday November 14 at Bertans grill in Burlington for special broadcast of the financial exchange followed by an educational lunch with the Armstrong advisory group will there be a correction if there is all help you prepare for to reserve your spot call 80393400. Once it joins the Armstrong advisory group and the voice of Boston AM 680 WRKO on Tuesday November 14 at Bertans grill in Burlington Bertans -- your life your style our food space is limited so call now 803934001. That's 803934001. Securities are for two securities America incorporated member finreg SIPC and advisory services are for her 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 your 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 costs on loans of up to 150000. Dollars and that rate is locked for four years in democratic rating of 700 and give you an answer within ten days of receiving your completed -- McCain. This is the number you need to call 87769179008776917900. 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. Dollar and you'll hear from them within ten days of receiving your application 8776917900. All right now 8776917900. Member FDIC. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with me 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 delay log on to leader bank dot com get all the information about this great offer and sign up to date 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 Alex fees may reduce earnings raids 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 at the most. Is who's the financial exchange radio network. If you're on ago he can still keep up with the financial exchange on the I heart radio app available in your phone or tablet just search the financial exchange and you can hear individual segments are both knows he can't listen live we've got you covered I heart radio. We're joined now by George route to from the National Association of Realtors I George. To be here glad to have you existing home sales report came out this morning can you summarize forcing gives an idea who we learned. Certainly so September when it fails. Or pop the zero point 7% from August or looking at an annual pace. Five point 39 million homes were still. But spending numbers work work at all on a year over year on from Austria September about one point. Most of the the F Kennedy. Remained hampered by his low inventories at all. It's an of inventory or down six point 4% from a year ago. And even though a lot more to trade or actually ordered that last month a lot of buyers particularly at the lower end of the market are. Running into not enough homes available for self. George how do you get a impacted by the hurricanes in Florida and Texas that report. So the to impact. Certainly shored up. In fact good golf course. The one region that recorded so decline in probably lost month. Particularly it would it would market like Miami. In declines. As well as in technically at Corpus Christi and often the album double digits. Just a surprisingly it was who was up about 4% to. From there on the harmonica. So clearly we have seen impact I mentioned it the other region from Boston's they. 'cause the northeast doing. Doesn't want to be on the course slop of arsons last month settlement payment doctoral space. I'm the one thing about the north east that that stood out loans. On the prices were up four point 8%. Four point 8% year over year. Yeah while that's gonna bid isn't. It is it is a nationally Leonid of them prices dropped four point 2% are bought 245000. Dollars for a median priced home. It's a slow down from earlier in the year where we are lower east experts and but it's also. Factor. There had to do with all all in the Winter Park in tend to vote to. Be lower partly because of a mix of homes and have a lot. More smaller homes on the market in different experience but your point the price appreciation still followed. I wonder how they can do that though how prices can go up when wages are only going up it you know two or 3%. He knew you would think there either wages have to catch up and start rising at fort 5% or prices have to slow down don't. Well to be honest the pricing right now is simply a reflection on the supply and demand in the market. He's zero point awaited obviously there are like indeed people in the market but in the housing. I'm probably tried what we have is basically very limited new construction. A lot of warmup buyers are are not having the opportunity to walk. Which is actually putting a lot of pressure particularly for those first umpires. From Portland to your point their way to circle and a little over 2% but housing is its expand at a much faster pace solve but for now. Again we have an equilibrium based on existing you know I supplies yup in the long run aren't you were or weren't you what what happened. George when do you expect new construction to pick up. Well right now and then and looking at the builders by builders have been the confronting those. Shortage in terms of the labor party because and then that the Great Recession on the housing crisis that he years ago. A lot of orcas in return to the construction industry. Compound thing about right now. We have the reconstruction effort going on in places like Texas and Florida which are obviously. Taking a lot of of those. Very workers. Putting them out for a broader project which I think. When you look at that employment situation lot. You active construction cost we have cultural support timber and other supplies going off what are you can count on so on. That obviously impacting our law. Of the construction so don't ask that your question what are we gonna see and an increase. We've obviously and indeed been hoping we would you want people the last two years right I'm not sure going forward the next two we'll be. And it better. What debt in terms of homes being purchased. What percentage of them are being purchased by first time homebuyers millennial swells typically think. So first I'm not fired at least in September yeah. That comprise a little longer that are present I don't plan members of the market which is. A little bit dumb. More. Have been traditionally hasn't been and eat it still looks pretty clearly. Could. Lee. Are having a crisis for a lot of first time Boris. Whose wages. On. Are not enough to actually keep up with the pace of the oppressed group. And very actually thank you very much dirt for your time and in all the information shared we appreciate. It's George were to from the National Association of Realtors. What do you fellas here among your peers you're both thirty years old. Yeah EA my Cuba out of place it is that what would you hear from your buddies when you go watch football with a month Sunday. Yeah I mean the majority in my friends is still renting. And there a couple actually two this year have bought home on the South Shore so. I think the wheels are starting to turn and I mean for me personally am targeting your landing gears here rang him we're targeting our first all of the passenger in reference or man down payment judges. Way too significant then cuteness most of them still whipple's body down payments like 5%. Asked if you go for the if you paid the extra the insurance and that Elijah Wood 20% effort in efforts you have been told that tale I've I've been told. Personally that temper since the way to go for down payment now that's about canceled so work Tennessee and I'm up. Significantly for tougher and now I I I know he needs to get FHA loans with three and a half 4% down the Hudson 5% in the UK right. You know it's nice to have cushion you don't wanna buy it one piece of advice would you views. If you're gonna buy in new pals. Don't buy it had no cash went to get into that house does a little and a cap issues while I have yet Tucker's you'll buy that house is gonna be reparations. The the day and there's going to be expenses associated with homeownership. That you never anticipate matter EU could spend. Time with your mom and dad they could walk you through all the expectations sums got to come out it always does and and it comes up at the most inopportune time don't they say they're pretty much to leave a cushion of about like 5006000. Dollars. In anticipation of something coming up preparation wise it's not a bad idea I think you can do in your generation tends to do this a lot less than our generation it was. Try to do the home improvements yourself. You know the the there's a temptation all their put in new bastards who hires somebody. To do that. I take it is much as you can do in terms of the self improvement of your home's first of all. But this thing to remember is just trying to hire some. Is typical yeah make a lot of friends and those who can do great handyman qualifying you know if you've got a buddy who is an electrician. That's that's alike seem to build friendships you know I do you think if they do electric plumbing you can kind of bluff your way through. I'm really. And sometimes that I was saying you're giant block your well it hasn't got a writes I added a few issues that. Plumbing you'll dot. If you make a mistake with it that way to go around electrical use you might die. You make that mistake when we come back or talk about another country. That is getting ready to legalize. Candidates that's next from the financial exchange rate units. The financial exchange is alive on FaceBook so make sure to let your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce in 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. Did leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead. Planning for retirement 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 members in SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from pro ready to. And in order to make sure that your process goes as smoothly as possible the need to deal with an expert Tom -- a partner with the law firm of Cushing in -- and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month Todd 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 extreme 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 dot com. Legal exchange show dot com. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of Wednesday 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 would you rent your payments for each unit received 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 GA 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 by refining Jane that it's being widely adopted by Condo associations tell everybody was he rented. Right so he rented the product we innovated leader being. 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And then of course there are some reports in notification that electric 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 or call them at 8776917900. Toll free 8776917900. Why collect your rent or your Condo at ease with paper checks. It with the modern age go to easy rent dot net or call them toll free 8776917900. Markets are out. 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. We've got another country that is getting ready to vote on legalizing marijuana. Yeah New Zealand looking to pass a pass new rule on legalizing. In. Yeah hey everyone's concern look at this as a revenue earner that things can be tougher for Americans to travel there to and satisfied there. There marijuana demands they say that it 65%. Of the population is in favor of changing laws. Imagine that 65% US population's fields and will no deaths weren't on a much isn't yet polling we've looked that. News I think it's 55 has earned favor and we we said that it and when it actually went to vote in Massachusetts is very close Mario as close as that you would like. 5250. Resort around across the country nobody really what happens is people pull this and then what actually occurs in the vote is off to different and it has only. You know people of the age of fifty analysts showed vote right break in people over fifty tend to be more conserve. Quick reminder that if you're in the market to buy gold coins if you want to hedge your portfolio if you think golds a good investment. He can actually buy gold coins and gold bars. At leader bank leader bank dot com the site to learn more information about their gold buying program where you just walk into a branch and say hey can you talk to me. About buying gold the election can buy gold bars. That are you know they're going to be more expensive as the gold bars. But you can all buy gold coins American Eagle scorer and whenever you want. Call leader bank to learn more about it their phone numbers 8776917. B 900 that's 8776917900. Or go to leader bank dot com to learn more about their gold buying program. Sort of get a big IPO next year and that Saudi. Iran code which is basically the country of Saudi Arabia go public. Lot of investors are saying they're not enthusiastic about it because. These days there's not enough substance. To the information that Saudi Arabia is making available. Yeah I mean. And what a bad time to choose to do this act here too yeah it is tough hide your place and hears them so the details they're offering their you know their their looking at IPO 5% of the state owned oil giant for. They're hoping to Poland between one and two trillion dollars but you're right for the last hundred years no one's actually measured how much. Oil is in Saudi Arabia and they're not exactly. The most open government there aren't. There a little bit closed off they say there's going to be an independent audit that's done before year end that I'd. Bulls as they sell off 5% of an unknown on it yet in their stating that it's worth two trillion dollars I've. I figured out a lot of tough takers plus. People are there are a lot of investors it just will not invest in Saudi Arabia for other reasons as the Saudi figures that they've got over 261 billion barrels left of oil in the area in their supplies. And we'll see what this the that's what's been done before year end which would give them enough time to do with the IPO but it. Now I add that to look at who's doing the audit and you know what sort of axis they're actually getting. Visitors are still flocking to Mexico despite warnings. You know Mexico is is an attractive destination you go to all inclusive resorts down there. You know the it's affordable it's often times in nonstop flight the problem as you might be killed gold. That's minor detail. But the they're tourism was up 9% in sixteen. Compared to 2015. And it's still growing so you know people are willing to take the rest despite the fact again it which would have. Happens in Mexico and realizes. You get mugged by cops cops are. If he's now you're open here in town the cops will muggy there that that's how bad things are in Mexico. Am I mean especially. Take a look at while one compare the cost of taking a Caribbean vacation prison next indications. She's a lot of money go to Mexico and now you can't really go to the Caribbean right now everything's destroyed depends where you wanna. You'd country won a lot of that is a pretty rough shape the UAE OE you get to would January which is we you know the Caribbean people circled the Caribbean in February march and April. And it'll be back. Much has a much of the Caribbean is Puerto Rico is going to be a nice place that is in February I do I a lot of the resorts the big resorts they came out of it unscathed because they are well constructed so. I think you're gonna see. They're not ready yet to start promoting that you're going to be into the of the get bargains you wanna go someplace she peered in he would go to Puerto Rico. The nonstop flight out of many cities in New England you'd be able to get there pretty inexpensively because. A lot of people to your point. Have canceled their reservations. Because if at all we don't wanna go and then they're alert well we tango you know the and it's so it is really cool experience for you get to go down the local well and Thatcher on. And I say it's you know really don't act like in nineteen twice experience no electricity. And the last sleep under the open stars it's not I'm telling you it's coming back Puerto Rico might not come back ways quickly. If the other Caribbean island seat Franken today I check on a daily yeah he is making them act. FaceBook is testing in new subscription sign a service. Yes oh this is a inch move then so you know you have all the news articles pop up time in your pastry clicking union you know look at it. What they're going to start doing is making it's pretty easy in the application to basically sign up for subscribed. In New York Times subscription Wall Street Journal subscription by putting that directly into the application. Rob and driving traffic to the company's website that it that it's not going to be available on islands yet so how idol so. Face to face to resign over gonna give a 100% of whatever is generated directly to the company that's happened apps and then no you're not we want there to run a 30% cut them. So they do it on injured but the noted apple boss. I guess I can see this. I guess Agassi mr. bowyer driving some growth is this company's you can sign after all absolutely one button click and oh yeah subscribe to New York Times that'll that'll definitely dressed in traffic in May need help. Yeah in news organizations that are really struggle. Up next we will be joined by Paula Monica from CNN money where have a conversation with Paul about Adobe. That's next from the financial exchange radio network. The financial exchange with Barry and chuck is liable and FaceBook and YouTube every morning beginning at ten days is the financial exchange radio network many of you who've listened to Todd lets you for years on the legal exchange radio program are probably at or near retirement age and if you're one of his core listeners you know poison expert and elder law and estate planning if you been thinking about starting me estate planning process or are just under way you want your trust documents to be prepared properly so that your assets are protected from the nursing home. It takes five years to secure that protection and you need to make sure that you aren't wasting your time in your money on legal documents that don't work. This month Todd has written a brand new guide called designing the perfect income only irrevocable trust they contained the specific language that must be included in your trust in order to protect your assets from probate this guide is available exclusively. 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Retirement it's something we all think about in all of us look forward to it after many years of hard work but are you ready for mentally perhaps but there's much more planning required if you wanna rest easy in your later years hi this is very are strong and this month my firm the Armstrong advisory group is offering a brand new guide called retirement readiness unit you'll find information they can help educate you on what steps to take to enjoy a safe and prosperous retirement such as how much money you'll need to maintain your standard of living and don't forget about health care costs and tax considerations it's all in this brand new guide which includes your own retirement readiness checklist you can get the guide by going to our web site Armstrong advisory group dot com that's Armstrong advisory group dot com learned today so you can plan for tomorrow download the guide right now at Armstrong advisory group dot com. Juries are for 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'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking when he one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice 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 get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now -- leader bank dot com leader bank a step ahead. Security suffered two securities America ain't members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. To vote on our daily poll question had financial exchange showed John come out while you're there fire of the media player and watch the show while you work. This case the financial exchange radio network. We're joined now by Paula Monica from CNN money talk news about a company that has grown its earnings by 47%. Year over year Adobe what do we have gone over this company right now. There will be she just indicated a couple of days ago that it expects. Really strong sales and earnings growth for our you know press the extent they Keenan. Yeah I think it's a test with the fact that you know it's the company that we lead me to Smart transition to you a cloud based model for its software few years ago and also still has a lot of strong demand for. The graphics. Products and a lot of designers used like Photoshop and died. So explain that to us non techies what what does that mean that they transitioned their business over the crowd happily go. Yeah I Douby is operating needs subscription based model for its software you know cloud based like many other companies are doing something that salesforce obviously is well known for. Microsoft. Increasingly as well and you know Adobe now eight partnership. With Microsoft it kind of ironic to couple years ago when Microsoft. You know congress Steve Ballmer on before they hired California promoted Scott had a talent that top spot. I've suggested that Adobe's you know you know who has a lot of experience o'clock PD could be could it. For the Microsoft spot to do that innate to him with and allies that worked out well for both companies to bolster trading on your Altamont. Where does Adobe go for me I think of Adobe as a software company that is on almost every system that were re an age you just can't really get around using Adobe where did they grow their business from here. Prize right now obviously I think they will look to do even more. We the Korean test software that they offer and the beauty about is that because you have this. Subscription based cloud. Recurring revenue streams sort of model they are not doing as much of the just selling something box it's a shelf. Store that you probably don't go to anymore because you know goes to you know. CompUSA or what have you any source that that. You know really just you know ultimately dot. So the read this subscription model just cheese's you know further revenues and I think that's what people wrote about it why. Sales forces another. It is awful company is doing extremely well. Yeah I mean clearly both those companies have had tremendous growth it's. You know he's tough to justify a company like this when their training effect you know 55 day clearly you know having tremendous cost savings and just incredible revenue grew thank you Paula for joining us appreciate it perfect thank you. You know let's take a look at list. We even talked about lift we talk about who were all the time and some of the corporate citizenship issues they've had you know I've troubles in London had trolls frankly all over the world. They're involved in expensive litigation with with Google. Lift on the other hand very quietly chugging along gaining market share in the United States I think they control. Who say around 25%. Of the domestic market for the ride sharing. Business detailing business here in it it's. I got a similar of this of. Pointed now list react I think they had a huge opportunity. To beat down to where when Hayward you know dealing with all these issues I think they had the opportunity to steal a lot of customers from over now. And they did to some degree have you seen it yet they have those ads where it's you know all of the executives of movers and small boardroom to government there and she beat out that. But I don't feel they really address the issue indicative now added a lot of subscribers that says you know and I'm not comfortable using this company that I. Ethically worried about their right when Hoover's and all that hot water you figure that left four come out guns blazing with like promotions of getting you to switch over. With a free rides everywhere so polite that's I mean some sort of commotion. Once you've got that app on your phone they need to start check in both the right and you know maybe. I don't know personally you know goes way but I still use uber more please list but you know why have. Just in using forever and yeah I don't I suggest exactly that reason that I just. Had its youngest artist and I and I only use list now gorilla I mean downloaded left why why do I only use it. Just I got comfortable that in. Maybe it was and a matter of one vs the other day action outside the real reason I use left. Is I owned shares in General Motors and I saw General Motors make at least 500 million dollar investment in the war in lift. That's it like can't buy shares in uber. So that's why I use left well there is a we're talking about this in the first place is that they raise another one billion dollars in funding led by Google. So you know there continue to expand their only a domestic company right now where's Hoover's of this world wise you can see let's start to expand it to Canada and some new markets. I think they're gonna face a lot of the same issues Hubert did there is they're gonna face copycats and all of those markets that do that. The advantage that list may have news. They have a cozy relationship with Google and many. Technicians will tell you that Google is light years ahead of everybody. In terms of driver was car technology now I don't know if it's true or not and you know because you hear that GM has is making. A lot of inroads in that area but. Whitney that the fact that they have a good relationship and cool and that Google's gonna hold. Who knows 1020% of this company right right that tells me that boy lift might have an advantage because I still maintain. The first company withers lift or whether it's whoever comes out with driver Lewis cart technology is gonna win. The market share because right now you guys are using your you using who Burke has its what you got used to. The pricing of it is not much different than using left and rate the pricing is it within percentage points of the two. Once one of these companies comes out with driver was cart technology the cost is of that. Look ride is going to decline by. Probably 25 to 50% lawsuit there. I'm not sure. Why. Because the initial adoption of that technology can be massively expensive yeah I don't think it's gonna down that much. All public about it how much cheaper would lift have to be. For you'd use it over Hoover. Them. Yeah senators 10% discount of 10% say and if they're not paying a driver that 10% it's going to be at least covered by right you know. We'll say they're going to be of the drop by at least 10% that's. We assessment team. United shares plea G add a tough day today while United Airlines may have had a tougher. The so the stock was down 12% on Thursday and really I'm gonna put most of this in the CEOs. You know there the from the brawn number's perspective then how that about a quarter and they they met expectations on earnings and revenue. But when you know they started you know when analysts start asking questions the CEO the quote that has so it was. We had dug ourselves historically into a bit of a competitive poll. That's not what investors want hate her know they they don't he did not instill confidence. And the you know this is a huge year. Yeah is it a really. Big company. But to your point they're they're investors are not enamored they they don't feel good about the direction of the company. CEOs only been there for sure Tony that. Target car after it started who are transport had a heart trains now that's pretty remarkable to be able to. Maintain the schedule of the CEO after having had. Heart transplant act soon after her transplant that evidently he may not be there this agreement on payment of the embassy divorce has partner. Australia. Australia mourns the end of its car manufacturing industry they make no cars in all of Austria. That's that's going to be tree display and you know I guess the United States would never let this be as you remember back you know it and we said. Mule had always for defense reasons we always have an auto manufacturer artistry in this country and clearly Australia doesn't feel the same way that there the problem is they sold. It lasts there last auto arm was sold to GA and years ago so available in Australia companies owning the autumn trees and it's it's such a small market it must not be worth it for anybody to setup. The enemy you know that with a small market but you know currency and wages take a look at a country like roster really don't have a huge workforce and you you know. You've got really high wages and have a strong economy actually has a very strong company. The naked they could create a card industry just by raising that terror yeah. You easily increase in it and they haven't done if you don't make a car in Australia the tariffs could be 50% you watch how quickly some start manufacturing cars in Australia. And all of a captive market now. Wal-Mart is courting Lord & Taylor for an on line challenged him is this an interest in story. It is Ares are basically with their re doing is Lauren Taylor and you know some luxury good products are going to be listed for sale one. Presumably wal mart's website yeah. And so you know trying to create this online shopping mall my big question about all of this is due Lord & Taylor consumers won't be buying stuff on Wal-Mart dot com. Well a yeah I don't know where I'm wondering if they don't put blow Lord & Taylor percent over the jet. You know use jet as the portal I would think that you would wanna specifically. Branded website for. Just shopping mall type experience where we're only going to get these luxury items that avenue house Indians to see where they go the year the problems Lord & Taylor has now doesn't get trapped. Right the he had no traffic where Wal-Mart and it's surprising about half the traffic that in this. Indiana weather graphic you know you look at their web traffic between with may have been when jet tests the actually. Are the closest competitor for online shopping. And Wal-Mart protector gets Amazon's ministers that Pakistan mean thick stuff down benefits you know if it's falsified and you know help you compete there but I you know Wal-Mart thing to do much better job taken down knock offs and really supporting the brain what's in everybody's interest to have somebody compete with him is yes except for him. Bitter right. Now I mean people do the bulk of their online shopping I think something like 50% of new money being spent on red line is going to Amazon. Hey the Dow is up folks it's up a 113. Point to 23000 to 76 price of crude oil is up ten cents a barrel. At 5139. And thank you for tuning in today and all week long it's Michael Armstrong Tucker Silva and very Armstrong signing off. For the weekend from the financial exchange radio and.