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Full Show 3-15-18

Mar 15, 2018|

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city 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. Three big stories to begin today's program first of all Larry Kudlow and has been named. Donald Trump White House economic advisor will talk about that. We'll also talk about what China is readying as a relates to a trade war how will China respond. To tariffs directed towards that and third. The Dow closed more than 200 points lower yesterday. On bowling figures why Boeing's stock declined so much yesterday we'll talk about all bat and a whole lot more on the financial exchange hi everybody it's buried truck with you here and no big surprise here chuck we knew this last week. Bet Larry Kudlow would be named as White House economic advisor. Yet this is news that we've really been expecting for the last several days now. Mom and some not not necessarily coming as a surprise but I think the big thing is potentially. Laird being able to act as a helter balancing force. To someone such as Peter Navarro who tends to be much more protectionist. When it comes to issues such as trade and so the way that I view this is it simply gives you an opposing voice. On those types of economic matters and it as a result I think that you may see. You know potentially against us some greater flexibility. On issues such as trade going forward. Man in I would imagine that just even in the last week. I would imagine that there's probably been behind. Some of the exemptions that opened up on those tariffs. Most notably Canada and Mexico with the potential for other countries to be added and so I think overall and I think it's something that just gives you a little bit more balance in the administration. An and I think proposed that you'll probably make some sense a map snapper. Well it does aid and I think he'll do fine job by those state reached out to Larry last night I don't expect to talk to him until this weekend. You know he went one quote that idea that that I wanna be a tribute to Larry Kudlow. Was I am very strongly in favor of tariffs on China. Because they continue to violate our intellectual property rights and so forth now you and I've talked about this struck. I mean the Chinese are notorious. For stealing American technology. And not paying port and in there is a company is a semiconductor company in Massachusetts. That darn near went bankrupt as a result of this staff that occurred gosh 56 years ago they had corporate ST espionage going on your call and they literally were stealing. Ideas and then taking in the China nothing happened as a result. Yeah and in you see it in a number of different areas some examples are as brazen as that others are cases where you have a store with the apple logo. Up in China that simply isn't run by apple and China just doesn't do anything. To prosecute. People who abuse trademarks in that fashion Soka across the board intellectual property. It simply is not given the same protections. Throughout much of China that they received that it receives. In the United States in Europe or in even other emerging economies and so. I think 'cause of that it's one of the biggest issues that needs to be addressed here we've been talking about this for five years. Anything going on for twenty so it's like if you're not and I wish you. No and it's not just intellectual property if you were call. I'm gonna say it was 510 years ago you and our work with a client who sold his business get to the Chinese he moved to all as manufacturing equipment over there he made. Six trips a year to China to teach the employees how to use the machinery. In the never paid him. Nobody ages India productive pay you and if you wanna seuss goes ahead in the big mean in the meantime all the equipment had been shipped over there they paid him some of the money. But they didn't pay him yet they didn't like one big hit like 20% I think of what he was supposed to get. So I just you know you're you're gonna hear a lot of pro China. Talked in your hear about the negative consequences of entering into trade war but I hope people understand. That this trade war is not without cause I mean in and I I think in the independent arbitrator would look at China's say rookie guys are guilty of a lot of violations here and in and they just kind of thumb their nose up at a certain age at a height. Applaud the administration. Especially on the intellectual properties standpoint the problem is the in and here's the thing that I wanted to talk about news. China is not and just sit back and say oh sure we will take a 25% or. How are they gonna respond what will China do to. You know to penalize the United States. Well and there are few things they can do one is. And this is why Boeing sold off yesterday the concern when you look at a company like Boeing is that Boeing recently last year inked a major deal. With China a couple Chinese airlines in order to sell their planes and what you may see a lot of these Chinese companies tend to not tend to but a lot of cases are required. To operate under some kind of government supervision and so what you may see. Is some of those airlines in China. Come back and say Boeing you know what. We're not interested in these planes anymore we're gonna cancel our orders were going with orders for Airbus. Or would go well let let let's talk about it because. That's three remember if you want to order a 737 today that it. How many years are you waiting if you put your name in line three to five. Right so you may just all seriousness. Aside. Do you really think China's gonna pull in order right I just say they desperately need to explain to. They don't need these planes though that's the thing is. It again if you're looking that far out. You can find temporary aircraft on the leasing market most aircraft most people don't realize that most aircraft released anyways about 70% of all it aircraft operated by airlines. Or at least the airlines don't actually own them they. They released them from. Leasing companies and so. If you see airlines that come out and say look. We needed the 730 sevens now but we've decided we want to make a move to we have Airbus models they even go do that the challenge you run into on that. The flight systems aren't the same answer you do have to go three training process for pilots because the flight systems for Airbus and Boeing are very different and he noted. They're similar sized planes similar orientation but. The actual. Controls are different but. Why isn't the consensus vote to truck that Boeing makes a better plane an Airbus Airbus made by France that canopy. I mean they're they they pretty well what does France make it's good besides why. They pretty much still the same number of planes in any given year Airbus planes that no more likely to crash that no more likely to have maintenance issues. There they're pretty much they're very similar at that and there's there's not a huge difference to be completely honest. And so I do think Boeing has an issue here in here's. The bigger issue on this is. Boeing is the single biggest exporter in the United States. OK the there's a reason why when we talk about you know industrial production real extra bat aircraft and autos has looked aircraft are huge they cost millions of dollars and so Boeing. You know it if you lose the ability to export as much as. As much as what bones putting out right now. All of a sudden your trade balance it's worse not better. Why I understand it and and China has the option. You know if we start to slap tariffs they can sell stuff to the Europeans and and Americans are gonna like it if all of sudden the cost of their televisions go up the cost to their car Scola. You know they're they're not going to be happy. With the results of the trade war but I do disagree with you on the airline issue I. The everything I've read I talked to some Smart people yesterday afternoon they do not think China will hold orders for Boeing jets. The air thoughtless. It if you want it to be politically savvy. About Europe your pulls you're gonna pull orders from red states not a blue state. I don't think China cares red or blue state. Now no equity at the end of the day this this whole thing is about trade balance. Dale you know it's it's it China does go against AJ we've got a trade balance with Kentucky of this and with you know Washington of that. They they don't care the other thing to remember is that. China has bears state owned airplane company home back. That was established back in it was 2008 to 2009 in their first model. Is scheduled to go into service in 20/20 one. And so something to keep in mind here. Is that mine my guess is China wants to be moving. Towards more domestic production of airplanes anyways yeah. I would imagine that that factors in here where they might say look we'll just throw some money at the problem. And tried to get things built up as far as our domestic production a little bit more quickly than than we anticipated. They probably steal the technology for the girl planes for months. Yesterday Larry Kudlow made this comment which I I had I I wrote this down because I wanted to talk to about it. Larry Kudlow and trump. Tapped to be his new economic advisor also had harsh words for Beijing on Wednesday. Calling for coalition of large trading partners and allies against China. Isn't that what TPP was and in the president pulls out at TP yes and that's why argued that pulling out of DPP was not Smart. Yeah it was issues. Politically it may have helped get him elected but realistically. In terms of you know trying to combat the Chinese. It was a disaster. Didn't see it. DPP's the buffer that it it's supposed to be the buffer against Chinese economic influence because what you have China doing right now. Is there going through this whole what they call one belt one road initiative and pretty much what what that is. It is a multi country multi continent Marshall plan where China says look we are going to lend you the money for infrastructure gonna send in for structuring goods in your country. And we are going to effectively grow our influence. Through sending you goods and building you re you know roads dams railroads anything that you need. In your country and the big goal of TPP was to counter that and say look there's another way to do this aside from going with China. And unfortunately. We that's I think that opportunities passed at this point. All right coming up we'll be talking about United Airlines they've got a problem with dogs that's next on the financial exchange. Like us on FaceBook and follow us on Twitter at TFE show. Breaking business news is always first break here on the financial exchange radio network. If you're nearing retirement age and have yet to set up a trust to protect your assets do not change the station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your state taxes and avoiding costs associated with -- if you're over sixty years old -- are preparing for retirement now's the time we called Thai blood ski time as a partner with the law firm of Cushing and Dolan and an expert an elder law they'll walk you through the process step by steps of the your trust to set up properly and efficiently other several kind of trust to consider a reputable trusts are extremely popular to establish the kinds of protections were talking about Anton has written a new guide out this month to help you understand all the particulars it's called the operations guide to a reputable trusts into tears are free by calling 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 8668485699. That's 8668485699. Perry or chart here with a message for all business owners that are listening to me right now how do like to save up to 90%. On your corporate taxes if so then consider relocating your business to the US Virgin Islands they've got an incredible tax incentive program that numerous businesses have already taken advantage listened to Wayne Bakes executive director of the EDA. Anybody that's involved in the financial markets would it be hedge fund managing managing consulting in the they've done very well that should mean world and entities that are designated services we have several cost senators and I'll we have several centers that do back office operations and and then we do high value manufacturing and how wearer can do manufacturing and and do value added it has large margins and we have entities that do what the boys we've had medical device is a variety of those type of businesses have done very very well. This program is fully sanctioned by the federal government and it will lie your business to expand and grow. Learn more by visiting the EDA at US VI. EDA. Dot org. Hi everybody it's very Armstrong and Jake two Lian we're talking about a program called Z rent this is specifically. Designed. For those of you who are landlords in used to collector checks with paper checks are gosh maybe still do. Was he rent allows you to collect checks electronically. Jail is hoping he could spend a little better time explaining how easy grant works and why it's a big advantage for landlords. Absolutely vary so we we develops the rain to sodomy Holdren who else because right now. You know with the landlord when you're getting rain checks. Its low unpredictable. You're missing envelope the great line mostly waiting he might not get all the rent until the tenth or fifteenth of the month furthermore if your landlord on vacation in your race thing you know boxed up to what he does is it really gauge bill. It makes the ranked electronic payments and allows for me cheering for multiple roommates and apartments that's great if you're renting at the college student absolutely. It's predictable it comes at the same time every month. And it's all on me. So the landlords who have been using assisting huge time savings and ointment you are you still giving the first six months free for landlords the first six months or free and then in addition to that. If you bank at one of the participating banks he ran is always free. Those participating banks are meter being installed in messed me up at that any bank could sign up right now to keep you at a bank in Vermont after Connecticut. They could sign up and become part is the rent yup you your if you have a community bank that wants to be a member happened Collison will have and sign up and the service will then be free free. All right if you wanna learn more about easy rent. Go to Z rent dot net you give McAuliffe he wanted 8776917900. If your bank doesn't operate they can sign up for zero it. Go to zero rent dot net or call them told free. 8776917900. Security suffered through securities America income members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word ferry it's a 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. United Continental Holdings said he flight attendant did not realize that a bag. That a passenger was made to stow in an overhead compartment contained dog. Which died. During the flight and you missed the story truck but we covered yesterday. This is his. Ship turned out create quite a problem for United Airlines. On any saw the other one with them yesterday too didn't you. There the one with the dog that was supposed to be sent to Kansas but was sent to Japan by mistake. If you. Oops that. They tell and I know we didn't die just ended up in the wrong continent and probably is quarantined because he can't chip animals internationally. The other thing is remember last year there was the giant bunny that died on the plane like the forty pound rabbit. That was united as well. Well they're just not good with pat. Pets. I know access looking at statistically to see this statistic run yapping. Incidents per 101000 animals transported to mean. Airlines like. Hawaiian Airlines if no incidents of pets dying. Alaska Airlines very few deaths Delta Air Lines there are few deaths united is number one in the leak yet you kill more pets than anybody you United's rate of pet death was three times the industry average. Three Tony it was as not a rounding error. 75% of the deaths last year but retirement. Pets now books ever acted just to be clear. We're on day united you know American date eight United Airlines killed eight dogs or pets as a guest rabbits are considered it. American only kill two deltic killed two. Alaska killed two and everybody else killed nobody unity agencies like the united be they seem to have something gates pets. Yet united in Alaska shipped about the same number of pets and united killed almost ten times as many. They gets it. They're they're just not good with the animals waits in just a clarified there united issues statements that they didn't realize that dog was in the carry on as a with the senate yesterday that was their claim they saw was a piece of luggage barking that for the whole flight. Because don't they said that the dog was barking. It was whimpering you know when they put it up in the top in the flight attendant saying she didn't understand what we spoke English and so. That if you if this had any incidents with pets on a plane either in in what way collect. Another perk on Medicare and Harris I'll share story. He's been a number of incidents by the way with the dogs have kids and and other people on the plane that. Aside about it share my own personal experience. Flying to Phoenix Arizona for Thanksgiving. And I'm sitting next that this woman. Who's got which she called the dog and isn't that dog definitely weighs less than five pounds yes Nebraska rat. At any rate she is this dog in a bag. Just find it dogs not barking up on me. But about half an hour into the flight for some reason the dog yet it's an incidence of diarrhea. Revolves. So I think this dog has diarrhea which thirty minutes in two if you ever upload some aches Isaac Sowells sly. Yeah yeah and so it was a very long six hour so. I I got Italian. It and I know pet lovers around the region are gonna hate me for this but it. Don't bring your damn dog on in the main cabin of the place I mean it's obviously in the the these things it either don't bring them rightly beaten with a pets that are currently met with your boyfriend or girlfriend I don't care really. They'll bring them on my on my on the plane if you have to bring them on the plane. They go down with the luggage in and you know that's that's out dogs flew for many years weird where it was in the luggage bag container downstairs. And I've I've never had that happen. I've I've had you know some things never had diarrhea. I mean if you're going down that road I have a long and align these store but I don't think we need to do that right now. Like I go back and forth on the dog issue I mean I -- I get that you know can be annoying some times but like nine times out of ten there's no problem with them you know that most dogs generally like a lot of people these days just you know sedate him in the just passed out the entire trip so. And I love dogs I just I do not want your hat to a mean he rabbits on planes sneaks a mean age of. I mean. Now that's the Jackson that that was a movie there a week here leave your pets at whole war. Put him in the in the storage container on the plane I don't want or in the main capitol I'm kind of buys because my mother frequently travels to Florida and we have a eight pound York he. And you know she goes to Florida for communal month so it would which she gonna do with the dog knocked it with her give it to you you can take busy. Till then that I get rid of it not my dog. It. Don't fight like if I don't want the dog in the it would it would appear that dog allergy. It would if you're allergic east and sent next avenue addictive dot and the plane will then change seats at the request to move. Pretty common. If that don't look. A Y one this is a new thing two and half these people that had dogs on the plane to get these fake certificates. Bitter cold comfort that's an emotional support. Animals by the way do you know with the only other animal as they can qualify as an emotional support animal. That pointless. Weaver to a course you know like the Little League many straight yet spring Toys 'R' Us I believe you could actually bring a miniature horse on a plane if you want to avoid court all like an actual sport not a lake of Wendy Malick stuff no I don't know like you go to Italy twenty pound plate idea courses like that they actually they are the only other animal I believe that qualifies as an emotional support animal that the pats stays in the carrier and compare. Conveniently under the seat. And up you overhead compartment it's fair game. Yes miniature support horses court rulings have established that they are as of 2003 Department of Transportation. Agrees that they fall with. We're supporting animal. She should dogs be allowed in the mean to happen of an airplane I say absolutely not keep your forgotten dog it's. Lower order or give it to your kids to take care of what about a miniature horse. Not you know no pats on the play. I am emotionally scarred as a result of my incident a decade going to Phoenix now. Just I I get parent audible around seizes on and I I do not want dogs in the mean cabin of an air about first class. No no no. No keep your day. You know keep your dog's hole and I thought that was about it but I. You know I don't bring my dog on it and leave Coleman. And it's take care of it serve. I take care of their dogs but they'll bring your dog's point you can vote on this by the way. You can text us with your thoughts are tech's number is 63566. Our website address to participate in the poll. Is financial exchange showed dot com. Just curiosity how do you think the polls shakeout today overwhelmingly yes. Real. Yeah I don't have a problem with dogs on up I mean like yeah occasionally get something weird happened but you get that with kids to use we benlate infants from planes. Maybe they get diarrhea and TV you know these fellows that you can go change it right is thought crap all over itself is just. That yet if it it does sound bad there's a case to be made that maybe we needed different carrying case for animals than. They coming up we'll help Wall Street watch but will also be talking about the spring real estate market. Could field a little bit tough this year we'll tell you why when we return to the financial expert. 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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Or zero rent dot. Net hi this is very Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business day of the tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of the EPA. This is a program that's. Fully approved by congress has been in existence for about 45 years that we have several companies that are doing that Carly and we effectively reduce federal income tax because we do Ameritech system where we use of federal foremost with the money CC territory and a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us to tweak our tax rates if Europe. Business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI EDA dot or best US. VI EDA dot or. If you're nearing retirement age and have yet to set up a trust to protect your assets do not change the station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your estate taxes and avoiding costs associated with probate if you're over sixty years old and are preparing for retirement now's the time we called time Lonsky time as a partner with the law firm of Cushing in Dolan and an expert an elder law they'll walk you through the process step by steps of the your trust to set up properly and efficiently other several kind of trust to consider. But reputable trusts are extremely popular to establish the kinds of protections were talking about in time has written a new guide out this month to help you understand all the particulars it's called the operations guide to a reputable trusts into tears are free Michael 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 8668485699. That's 86684856. 99 if you work hard for the past twenty years and enjoy a healthy savings account you're and a solid position to enjoy it later life hi this is chuck is not a saving money for your retirement is half the battle but making sure you leave it to the right people that's the other half beneficiary designations are not an afterthought then while most people try not to think about what happens after they passed it's important to set up your beneficiaries properly to ensure you protect your wealth my firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designation because believe it or not they're can be complications called out to get your free guide understanding traditional IRA beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Time now for Wall Street watch a look at the market's performance so far today but I still Berrian jog right here on the financial exchange radio network. It was a little weird here chuck Hughes the market's been positive in the morning and then it tapers off as the day goes by it's kind of the opposite of how we begin the year yeah I mean it. It's not something that gives you a great deal of confidence. Even in a market's ability to hold up here. You know looking at where we are right now we're still a two and a half percent up for the year at this point so they're still has been even with the volatility of the market still has moved slightly in the right direction here. I think the big thing that you're seeing those this there's not a lot of market breath here and what that means. The you're not seeing a broad based move up that it is a few small companies that have kind of guided. Any of these gains here if those start to falter. I mean you could see this being taken other dip down to where we saw. Back Ian. You know back in early February right now mean is that the charts right now actually. Point pretty bullish but yeah I mean you never know just because we've seen these shocks between you know tariffs and inflation. That could throw things often. Honor text line were 978 rates very I'm with you animals do not belong in the happen but hopefully if it must go. Put it in cargo and listen to that Parker okay. Another 978 says parent of your program but I love dogs too I love dogs as well I've always had a dog Negroponte dog's nose my wife and I analysts had dogs. I've never brought a dog on the plea. In I just think gates. You know the needle belong. In the mean to happen and they're playing now you can either Texas at 63566. To voice your opinion or you can go to our website and vote in our whole. Do you should dogs be allowed in the main cabin of an airplane. And I'm just gonna point out very early Tucker only 43%. Of our listeners think that dogs belonging to happen. An airplane. So still very early put that in your pipe and smoke now so we get an hour and a half ago here Kamal. Early lead rather be ahead than behind anyway and I hold this spring. Brace yourself for some tough decision to wide you have to brace yourself for some tough decisions. If you're trying to buy how's the spring. It's incredibly unaffordable right now of the the monthly mortgage payment for median priced home right now. Will be 14186. Dollars couple 168. From last year's 13% higher. And the problem is that it's pretty close to that 30%. Of your median household income that a lot of people view as EC level. For home buying and back in my view would be that you really don't wanna be about twenty to 25% thirties pretty much the absolute maximum I would go to we've been a lot of banks alive you up to 43 because. Yeah they want the interest payments. But you know in a lot of parts of the country you continue to see housing affordability being the biggest issue and so. I'll give you an example I'd a a good friend who was poked around in the Melrose area outside of Boston. And they'd they'd vote for about two years and hasn't looked this where wanna be they kept getting outbid finally you know the tough decision they made they said. We can't buy here than they go by a smaller home they said look we need to go and find some morals is that the golden over was they ended up in north and oh yes they ended up you know 45 minutes away from where they wanted to be. And that's how they finally found a place. That worked were. You know not eat the vets were picked it that's what happens to a lot of young. At least you know like a lot of young families can't afford to grow while. And and raise their family in the same on the big rock don't you know Ali debt. You know life I've seen that time and time again where you know these you have to move a little further my wife and you know when we moved to. Boston from New York back in 1990. Fisher we would love to lived in Wellesley here westerners like we could afford you know so we ended up in midfield which has turned out the year but. It just the the nature of it is you know that the market is such. That. You might have to about and I like your point compliment you on. Warning people about not going to that 3843%. Levels in two of because. You know the you think about what you just bought a house and is in pretty good condition when you bought it. What people don't realizes the size and scope of capital expenditures when you buy house. You know if you're air conditioning system goes it could cost 3005007000. Dollars right if you have more than one unit. Your heating goes here you know repairs on hold you like your house painted. They get to squirrels two and three are siding you gotta replace siding. You know I mean it's just that the there's so much that goes on though it as a whole as a new homeowner. You don't expect that you don't feel great like as your dad paid the bills when your kid growing up you didn't understand what it refrigerator cost so we learned. And even just you know study you don't realize OK I've got a you know fill the lawnmower twice a year or so you know just small things like that it's now as extra forty bucks an audience like this things outside just eat it they. They all add up in. You know the the other thing is when you're moving the biggest thing that I think surprises most people they say OK here you have got my down payment set. And they don't save money for other moving expenses and they they they don't save money for you know the first months electric they don't save money for any of the painting that they might wanna do. And so all of a sudden all of that goes on credit card and other paying that in addition. To their regular monthly payment and in all this and it adds up and her. Did I yet to tell you I'm listing my house for sale no you didn't. Now it goes on the market so next week and he did it did picture united did you pictures straight so he told me I could read the rumors that off. Gets off definitely again wait for a couple days and look what happens my housing situation falls apart. Bit he did the reason I bring it up is when I was talked into our realtor. Yeah we're having an open house not this Sunday a week from Sunday. In the realtor told us make sure you put any of your valuables away including. Any prescription drugs you have. Because what happens is with these open houses. You know the realtors can do if if you're if you have a five room house seven or house ten room house. EE EE EU picky denied on every person that walking through the house. So they said the first thing we try to steal if you get a thief in your house or prescription drugs made there drug interest come. Come true so they said may tree hide all your your drugs and things like that. And then they also said make sure you title your jewelry and then because they'll steal you blind. In these open houses and that's it doesn't matter whether you're having an open house in a really nice neighborhood are really bad neighborhood. The speeds they Dave Peltz from open house to open house and it's like Iraq and so the there was ever get up there's a story about how. The whole sellers are using spy cams to gather Intel on prospective buyers during the open house. Yeah and in in the article was written in saying that people were uncomfortable with that because they didn't like being observed during the process and I kind of looked and said. I don't know you're going to someone's house lake. What's the if you walk into a store in your potentially buying things. They've got cameras all over the place there you don't so GM not gonna buy that candy bar because they're watching me on camera you know if you go into someone's house and potentially you know they've got all their stuff flying around. I don't see the problem with having cameras there. I don't either but I would maybe. Consider either letting the realtor to. Note to tell people yeah they're on camera we notify people yet much in. And notify people you know some people Seau will now we can't have those conversations about whether we like how some like. We in the car and Google Talk about in the car like what's the what's the big deal with it which are dog and knows. If I would have been about dogs in cars there how do you feel about that. Is August on my car. Don't bring. I don't mind if my dog is in my car but don't bring your dog so it's kind of like you the old kid gets sick it's okay but if someone else's kid gets sick you have to see it. Not interested in and and don't bring your dog to my house and I won't bring my dog to your house as that I'm gonna bring my dog to Europe and house now. I I have assigns an a there's all kinds of ballot problems do. Note note the obstacle label for him to slow the a think the emphasis on public Kramer feeds the horse via you know and is walking the horse around Central Park close to eat. Oh boy. What's the best on behalf of leader bank there's still time to make 2017 IRA contribution. Before the tax deadline again about a month at this point so let's talk about their brand new offer which is a 21 month higher ECD. With an annual percentage yield of two point 1% you need a minimum balance of a thousand dollars opened the account and earn a PY to take advantage of leader banks and do a certificate of deposit. Grow your savings today again the APY is two point 1%. With a minimum of a thousand dollars to open the account and for more information. You can call leader bank U 87 or 8776917900. That's 877. 6917900. Or log on the leader back dot com the rate is effective march 12 and subject to change without notice fees could reduce earnings. In a penalty may be imposed for early withdrawal leader bank a step ahead member FDIC. You know talker I just got me an email from one of listeners who is an airline. He says Perry I've been an airline pilot for more than 25 years and I've had to call for a supervisor assistance to deal with pet issues. More than alcohol issues. Boca. Let's find. DelHomme on the plane we're the most common pages in all the IA I have no problem with allowing them on the plane in the hat in the in the storage container with a load it is. 41%. Agree with Tucker. And 50% of you agree with me they keep your I love dogs. I have nothing Pincher dogs don't bring in my car. Don't bring your dog in my house. And don't bring. Your dog on the plane because I paid a lot of money from IC analysts next to a dog. The that that it's on the point is the jury's still out on miniature horses yesterday no place no horses either. No no horses and horses. Ford has a little bit of a problem just a tad bit of these did that my your details not a big deal but the steering wheel come off when you drive. Yeah occasionally if you ever driving a Ford Fusion built in 2014 to 2018 or early QMK easy from those same years. In the steering wheel attaches from the steering column. You're not alone now okay this is a recall affecting one point 38 million Ford and Lincoln cars because there are potentially loose bolts on the steering wheel. They could result in the wheeled attaching from the steering column. What could go wrong so great note what could possibly go wrong if you happen to lose this year. I wonder what the frequency actually was of of this happening you know eleven. Eleven land development times that's that's way more than you'd want to see. That's that's the way it's like that something's where it's like a gaelic you know you've got a window that doesn't go up or okay you know this and that when you have eleven steering wheels that detached. I always figure acting about a year you're driving through Providence, Rhode Island you know house stretch of 95 is awfully it. You're you're you're driving to Providence and woody Dylan you don't somewhere between 55 and 65 young couple weird yet and you turn to talk to your wife and and you pull up on the steering Willits in your hand. Good luck drive and yet good good. Good luck to TF green airport early in the year the year and a little bit of a problem it is appropriate to fine. Coming up we're to talk about what happens if you take an early for a one K withdrawal that is next from the financial. Exchange. Have a question for Berrian junk. Now you can text us at 63566. And take part in the show at any time to start your text through keyword Barrett and join our exclusive club. Days as the financial exchange radio network. If you work hard for the past twenty years and enjoy a healthy savings account you're -- a solid position to enjoy it later life hi this is chuck is not a saving money for your retirement is half the battle but making sure you leave it to the right people that's the other half beneficiary designations are not an afterthought and while most people try not to think about what happens after they pass it's important to set up your beneficiaries properly to ensure you protect your well my firm the Armstrong advisory group as a new guide out this month to help you understand the process of beneficiary designation because believe it or not there can be complications called out to get your free guide understanding traditional IRA beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi this is very Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business they have a tax incentive program offered by the economic development authority that could help save up to 90%. In your federal income tax here's Wayne bigs executive director of EDA. This is a program that's fully approved by congress has been in existence for about 45 years that we have several companies that are doing that Carly and we effectively reduce federal income tax because we do of north Texas somewhere we use of federal flawless with the money CC territory at a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us to tweak our tax rates if you're. A business owner looking for tax breaks to talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI EDA dot or best US. VI EDA dot or. Hi this is chuck is not in I'm joined today by an estate planning attorney Todd lots key from the offered cursing and Dolan with your financial exchange quick tip of the day and Todd we're talking about how are vulnerable trust's operating. A lot of people are afraid that if they transfer money into an irrevocable trust. That they give up control of their assets they have to ask permission to do anything is this a valid concern. You know it's not a valid concern but it's one that I can understand right people in general are gonna say. I heard your local trusts you lose all control and and for a lot of years that's true and for different kinds of trusts that's true. Not for the kinds of trusts if you're concerned about Medicaid protection. This kind of irrevocable trust. You'd do not lose that kind of control at all what kinds of things can you still do in and year vote Coble trust that you don't have to give up control so let's say you put your house. And lived there you can pay your bills you can rent it. And you can sell. And you can buying a house with the proceeds and it doesn't even restart and waiting periods it's a wonderful flexibility you can also put in your investment portfolio. And and you don't even limit. The types of investments that you could invest in just because it's inside the trust some people get concerned that their trustee may misbehaved you have the ability to change trustees if that's the case you do we have the ability to change trustees and put on anybody else that you would like so. You have that kind of flexibility as well and you can even change beneficiaries. On the trot so. Folks in valid concern you don't lose control when you put assets in these trust and you don't give anything away. Folks there's a brand new guide out from Cushing in dole in the details these very issues it's available by calling 8668. Horry. 5699. Its title and operations guide to the use of your provoke able trusts and again that number is 8668. Foray. 5699. Or get it online at legal exchange show dot com. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest do you. This is the financial exchange radio network. You can reduce your corporate and personal income tax liability by moving your business in the United States Virgin Islands for -- report on. This program that sponsored by the economic development authority call 8556223634. That stole three. 8556223634. Tucker is your mom's name Samantha by chance now. OK. This I got a text message from 262. And to follow Barry on all of his vacations and every hole in animals in fine with me on the plane. We are. If we probably only allowed one Gregory he noticed 737. Yet and yet depth letter from here fake doctor Singh here you know like you're nuts and you need comfort letters emotional support ports that's important not. You're you're not not your you're in need of emotional support from your pennies my emotions supported. May be you do that right you get the fake letter because it saves you money. Yes. It does that is a fact what saved his money if you have an emotional support. Letter from your doctor yes it's a few hundred bucks or whatever cost to get a dollar and hopefully. A joke somebody deep Dino civic goodness that I know some be looked into that. Easier knowing that it does milk. I would be. If more defensive outing but it definitely happens out there is a deadly or higher handicapped kids a couple of lines Disney World. Yes those with a worse pretty similar for somewhere. They do that. Dated him here click two or three years ago so it was fairways would literally rained out there handicapped kids. It's to be too late now Guinea pigs at Disney World so that other families could cut the lines it was like one of them. Worst things I've seen it while it was it was awful that's a new level that it was off like a lake you have these kids who like can't vouch for themselves and do anything in their families were literally sticking them in lines and Disney twelve hours a day in order to make money. Well how much room again. They were like fifty bucks an hours some seems like ridiculous. There's all these rich families trying to stack the line. It was it was not tell us if I can pulled open it was like a lot of money actually. If we will move on from there. What happen. If I take an early forward to withdraw saw this kid in the Motley Fool is worth reading this. But people aren't aware of what happens and you know where this occurs most frequently truck is. Somebody will leave their job after having worked there for a year and half of them have that are fifteen greens in their 401K. And rather than rolling it over into an area I see people all the time they just take it out cash and put in their checking. You know I I've seen this with a lot of my friends who maybe they left their first or second or third job now and they say gee I wanna travel the world for six months. Instead of saving the money upbeat note in an after tax fashion or something like that they pretty much just pulled money out of their retirement accounts. In a lot of cases not realizing that age you trigger a 10% tax penalty on an early withdrawal. Do that let's do the math let's say it's a 151000 dollar withdrawal so it is it. It's 10% of the 151000. Yes so you pay an extra 15100 dollars in tax in order to do that and then the other thing that people just don't realize. Is that that money that you put in early on in your working career. That is the most valuable money that you'll put in over the course of your career because has the longest time the compound and so. If you give up forty years of compounding. You know it that 101000. Even if it just grew at 7%. And all of a sudden over forty years you sit there usage you will be twenty. Authority. Eighty that the tent that was to be a 160 grand if you let it go for forty years. But let's go back to the taxes seat at 10% penalty said that was 1500. Dollar Trent yeah. And then you pay federal income taxes on the 151000 dollars to write yes that might be another 20% let's cults of 3000. So that's 3000 that says so far were to 4500. Dollars. And then you gotta pay your state as well which depending on the state probably anywhere between four and 7% so it's called five to make the math easy another 750. So all of a sudden. Your 151000 dollars you're now short 5200 you're getting less than ten granddad. Actually have it in the a question from Twitter follower. And our handle is at TF the show and Jennifer asked. Continue to take money out of an IRA or 41 K for real estate investment deals. So what they allow is on an IRA you get a one time distribution of up to 101000 for a first time home purchase program. You can't go out and buy a you know rental property if you already own a home you can't do it again. But actually you can buy rental property you have to do you know open up an account quest is what the companies evening news. And you you can buy investment real state with you were individual retirement account money I don't recommend it. But you can take. If you had a million dollar fiery could take half a million transferred in to mr. separate custodial account and buy that's. But but that's owning it inside not withdrawing them. Right rate meant we're talking about to end but I think that's what the oh dollars no need to force by investment rules yet you can't you can't buy a personal residence. You can't sleep in that house you buying. It's got to be purely for investment perspective you buy raw land for instance. Yet to be of the day goes on going fees and again he's associated with investment rules state. Are pretty high it don't forget to participate in our poll question which is shoot dogs be allowed in the main cabin of an airplane. When we come back we're talking about the worst states in the entire country for you to retiring. Guess how many rumor and it went shock and that's our next topic on the financial. It's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase 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 of faster closing co lead 776917900. That's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Okay skiers and riders let's take a look at your long range forecast for Mount Snow Vermont. Monday's snow Tuesday snow Wednesday a snow again Thursday snow seriously Friday snow Saturday more snow okay who's been Massa win my script Carol c'mon that's not what do we value snow every day really. When you got the northeast most powerful snowmaking system just two hours from Hartford and you know you can count on great snow all season long. Mount Snow live to get there until now so get yours now at Mount Snow dot com slash save. If you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the produce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology tell them the cold as he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. If you're nearing retirement age and have yet to set up a trust to protect your assets do not change this station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your estate taxes and avoiding costs associated with -- if you're over sixty years old that are preparing for retirement now's the time difficult -- blood ski time as a partner with the law firm of Cushing and Dolan and an expert an elder law they'll walk you through the process step by steps of the your trust to set up properly and efficiently other several kind of trust to consider that a reputable trusts are extremely popular to establish the kinds of protections we're talking about the time has written a new guide out this month to help you understand all the particulars it's called the operations guide to a reputable trusts into tears are free by calling 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 86684856. And. In higher rate. From either a spouse a parent or from someone else and Mike. It's a little complicated sometimes people who they go through a difficult time where someone that they know closely as passed away. And they don't know what to do with the money they're inheriting let's talk about first spouse if you inherit money. In an IRAs espouse. What do you have to do so very simply. That's isn't the easiest version of this heritage money from a spouse. That I array can simply become your own firing the money can move into your own account you don't need to start taking withdrawals. Although I will point that you can start taking withdrawals if you choose to you just need to open a different type of virus have before you make any decisions you need to decide. Too I'd need the money York night wade and further taxation stale now if you're not a spouse US significantly fewer options as far as what you're able to do. Correct if you are not the spouse and your inheriting a money. You must open up an inherited IRA. And that means you have to start taking money out the account immediately the first year you inherit that IRA. You have to take a required minimum distribution now there's a whole different tax table associated with this or it's not as bad as they're Europe seventy year old take BR MD. But the money does need to start coming out immediately. Folks the guide is titled understanding traditional fiery beneficiary designations it's available due at zero charge. All you have to do is call 80393. 4001. Or you can go online Armstrong advisory dot com and download it for free there. Again that number is 80393. 4001. Or you can get it online at our strong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense 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 on guaranteed by the bank and may go down in value leader bank. A step ahead. Earlier chart here with a message for all business owners that are listening to me right now how do like to save up to 90%. On your corporate taxes. If so they'd consider relocating your business to the US Virgin Islands they've got an incredible tax incentive program that numerous businesses have already taken advantage listened to Wayne Bakes executive director of the EDA. Anybody that's involved in the financial markets would it be hedge fund managing managing consulting in the they've done very what do Shimmy world and entities that are in designated services we have several cost senators that we have several centers that do back office operations and and then we do high value manufacturing where can do manufacturing and and do value added it has large margins and we have entities that do what the boys we've had medical device is a variety of those type of businesses have done very very well. This program is fully sanctioned by the federal government and it will lie your business to expand and grow. Learn more by visiting the EDA at USB. IE DA dot org. Do you think they're better than one that everyone knows that that's where offering to balance the one taking. You can he added tax and wildcat mountains in that same day and it's the only thing. There's just twenty minutes apart in the number one's in the heat. Do you know anything. Once again WR downhill this winner at added tax and wild cat nap. Cricket dot com for more information hi this is very Armstrong and I told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 25%. Annual percentage yield this is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Her FDIC no minimum balance fees may reduce earnings rates subject to change without notice and may change after an account is opened. In new. This is the financial exchange with Barry Armstrong and shot so I doubt. You're exclusive look at business and financial news affecting your day you're simply your world and stay informed and up today. About an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck son. The Dow's up a hundred points Larry Kudlow is going to be the economic advisor to the White House. And somehow we have devolved into a spirited debate as a relates to the facts on the plane hi everybody it's buried truck with you here all on. He Thursday in Larry Kudlow is the man I guess we don't gag is the best anymore this. Under normal fired up. Well there. I I I don't imagine we're gonna hear too much from Larry. I. I reached out to him last night and I expect to talk to him on the phone. Yeah. At any rate. Eat this whole thing about pets on the plane that day came around as a result of united. Killing inadvertently a dog on a plane earlier this week at the they they took that dog in the put it in the overhead storage. And it darn dog died. Yes and and united killed eighteen pence last year which was 75% of the entire total for the United States then end it by a general rule of continuing their rule of our customer services are a number one priority work. If we if we don't kill your dog will beat the hell. I forgot. Did you get two options either you can fly in the the fight club class seats or if line the overhead bin. And those seem to be the options at this point so all I know is I would not let my dog fly united if if my dog came to me and said chuck I really wanna fly you know somewhere. Not on united. A lot of clocks might my dog talks I mean I have a dog in my nose Scooby Doo or whatever it is right. And in my attitude is keep your damn dog off the if you wanna bring your dog on the plane it goes down in storage and I don't want it in the meat to happen. At a when you are near June darkly debts on there. And I don't care. I don't care little would you work that out there if if I'm not at all it's a dog. You know what first look what what's what's his traveling with our dogs said. Like for it I bet a petted dog my whole life fifty years I've had a dog if it ever brought a dog on a plane never once have I brought a dog and split wide view. Feel the need what is your mother Tucker yeah the need to bring her damp dog on the play because it's one of her daughters. We don't know it's a dog and you built poorly to her daughter and her daughters is her daughter. As she can't be away from it for more than a you know what day or two so how does it work. This is the whole problem. The eat leave leave leave leave dwarfed in to a whole other realm where people look at their dogs I have a peopled it. The dinner. At my age that their kids are telling them that their dogs and now they're grandchildren that's not a grandchild. Okay you're you're your mother's dog does not qualify as a grant. I'd just like to point out there are some passengers that I'd like to put in the cargo hold as well and maybe we could. Is wrong for doing this for dollars maybe we can expand we have won so. I tell you I'm on Sunday. I was flying in this guy. It was maybe two rows up for months and he receded in the middle seat in their two women on either side of them and he got up to go to the bathroom at the beginning. In the two women went running to the flight attendant and pretty much said look you need to get get us out of the seat I didn't know what was going on but apparently this guy then came back. Realize that he had the entire road himself and proceeded just to pass out over all three seats for the entire flight. But apparently he was talking some kind of crazy talk or something. Is the flight attendant also came up to us and said look if there's an issue with this passenger when you you know well you would he be able to intervene on our behalf. And of course a city alum just roll the sleeves and you know different. Don't know how I'm ready to handle this young guy like 300 patents so it's really took a look at the Toronto at least I always wanted to be an air Marshal but never could but you know here we go now so. It's one way to get a whole roll by yourself again I guess I was right entries in the snow it was interest. 978 rates bury you sound pretty ignorant about dogs past the world. I I think you should ride in the cargo section do you not know the dangers. For animals writing in cargo don't really care. Right at me don't bring your quick you have to bring your dog with you to Phoenix Arizona right you have to bring your dog with you to Florida. Leave it at home with Tucker Tucker take care. And then fire early world. You know you're partially if your mother should take care that of course of course. Finally rates vary you think because you pay a lot of money for your ticket that people shouldn't be allowed to bring their pets and that to happen here. Deborah exact. My point. Thank you hate it vitally you'd be your year you are making my point for me and I will tell you the vast majority of our listeners agree with my theory. Which is don't bring your dog to the plate should dogs be allowed in the mean to happen of an airplane 38% of Bruce Tucker. And 61%. After you owe it. The vast majority of the has been I don't Q early not a lot of dog lovers out there it's. I've been continuing to think about this just comes up I'm always looking for ways that you can make money off the situation. What do we opened up. The cargo and talk plain and I don't know what do who don't play like that I'll I would go on app play for dog by dog eat dog pilots would be great. But what if you opened up the cargo hold. Two regular passengers and said look. In economy tickets can be 200 dollars round trip but if you wanna fly in the dark to Miami with your dog with your dog. Hundred bucks and you even let the dog out doesn't need to be and in a box it can go out in and frolic and do whatever. I want to be in that I would be OK with that if you put a flight down in the luggage container with your dog you don't bring your dog could mean cap. Literally you could even get it DJ instant strobe lights and all of a sudden you have a call from Brooklyn pretty much going on is that you bring your dogs in the clubs now it's like I'm telling you this could be big. We could do some damage with the. It's like a dog park in the air cargo space than a dog park and a can of worms opener. There anyway to participate in our poll it's financial exchange or dot com to text us with your hate mail which I seem to be getting a lot of hate mail. From women. Who eat at these are women that are texting me. That have these emotional support animals. My text number is 63566. And just bring it on I'm OK with an added IE I love you anyway despite the fact that you have these emotional support him. Worst states to retirees and the United States you know it's a shocking number of these states that are in the northeast virtually all of them in the northeast. And unfortunately chuck four of the worst states in the country for retirement. Are in knowing yet on the list are Connecticut Rhode Island Massachusetts. And was a four month Vermont sorry. And pretty much all of them is that the biggest reason is they all equate out to very high tax states either through property taxes or income taxes. And and it's the biggest thing that you see there. Oftentimes you do get a very high level of services compared to a lot of other states but you pay an arm and a leg for the and so that's been that's that's one of the biggest issues that you see there is that you're simply paying some of the highest tax rates in the country. I mean Connecticut has the highest second property taxes paid in the nation Rhode Island is the fourth highest. Massachusetts. You know it is on that list as well so it's just it's high taxes. The major team paying for the sins. Previous generations like I'll give you an example chuck you live in town Westwood Massachusetts. Nice town great school system but you army kids in school right see your name big proper we've got a dog. Yet you'd be dog does Dawkins high school yet go to school. So you paid for that and then you know what else you're paying port truck is your paying for all the tensions but the public employees in that town that that were not properly funded for the previous thirty years. So the you know the property taxes in New England are prohibitively high. Especially when you think about you know Rhode Island Vermont. Connecticut. And Massachusetts. Have not funded their pensions very. There and so EB upbeat part. Of the the reason that retirees are bailing out and they're moving to Florida they're moving to Phoenix are moving to south Carolina's. They can't afford the 151000 bucks a year property taxes. Only after it's it. It's it's not a you know a lot of these places and the problem is that these obligations are on the books and unlike the people who BO had to Florida. The obligation stays with the town the city. You know it's it's it it doesn't leave so you know you can leave but the risk is still there for people who were BO stand behind. Wanted to affects property values it doesn't know look look it look at Hartford Connecticut right. And a city of Hartford Connecticut go to West Hartford property taxes drop a 50% you would Hartford Connecticut. The that taxes are double whatever it would be in another town yet and that's a function of years in years of neglect right AD. Be held many of these towns cities and states entity that whose your we're probably talking about these pension deficits built up over probably the last what forty years. Yes it's really since the probably out third 3540 years since the late seventies early eighties in that ballpark and it's it just has been. You know the boom because the market you know made decent returns for some years towns and cities and states said hey we don't need to put all this money and we can actually diverted somewhere else. And the problem is especially in recent years the returns have not been there and that's resulted in these huge under findings. You know day it's. If it's a it it's a product and what ends up happening truck is. You'll see somebody that sells their town you'll see the senior neighborhood you'll see a couple that are in their late fifties. They'll sell their house. In in in Westwood. And they might buy place on the cape coast property taxes on the caper pretty cheap. And then they'll establish residency in port and they'll avoid income tax in Massachusetts or Connecticut where they happen live. They'll pay dust up of a place up here 'cause it was either grandchildren right. But they're not going to be paying income taxes or sales taxes I mean that's essentially. Divorce themselves. From New England society because they don't want a baby they can afford to stay right they they love to stay full timers state eight months a year nine months a year but financially. It's it's unrealistic for them to view the autistic current yup it's it's just unfortunate that you see a lot of people in that situation. Now hate coming up where are we talking about Tesla. There are some employees spilling the beans as to what's really going on at Tesla that's our next story on the financial exchange. The financial exchanges lied on FaceBook and you do want to Berrian chug discuss the issues of the day and see which one smiles the most. Is financial exchange radio network. Hi this is Barry Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business they have a tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of EDA. This is a program us. Fully approved by congress has been in existence for about 45 years that we have several companies that are doing that Carly and we effectively reduce federal income tax because we do Ameritech system where we use of federal flawless with the money CC territory and a fogleman has allowed us to do that to increase economic development and deterrent to encourage economic development unit territory sort of allowed us to tweak our tax rates if Europe. A business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its USD. IE DA dot or best US. VI EDA dot org. If you're nearing retirement age and have yet to set up a trust to protect your assets do not change this station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your state taxes and avoiding costs associated with probate if you're over sixty years old and are preparing for retirement now's the time difficult time let's keep time as a partner with the law firm of Cushing and Dolan and an expert an elder law they'll walk you through the process step by steps of the your trust to set up properly and efficiently other several kind of trust to consider. But reputable trusts are extremely popular to establish the kinds of protections we're talking about in time has written a new guide out this month to help you understand all the particulars it's called the operations guide to a remarkable trusts into tears are trading -- 8668485699. You can also download the guide instantly by visiting illegal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 8668485699. That's 8668485699. Hi this is Gary Armstrong and I 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 got another one that is surely worth your time to check out leader bank is offering an. 25%. Annual percentage yield this is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up today is rate may change without notice or don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change. Three online banking with leader bank's new. 25%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank step ahead. Member FDIC a minimum Alex fees may reduce earnings rates subject to change without notice and may change -- -- account is opened hi this is chuck -- recent studies indicate that in today's busy world more Americans are saving money for retirement through traditional IRAs in employer sponsored plans that's great news for those of you were closing in on retirement the money that you're saving his terrific what I'd like to do is help make sure that you protect assigning a beneficiary to passer assets onto after you've passed is an important part of elder life planning in my firm the Armstrong advisory group hasn't new guide out this month they can help you understand this process it may seem simple but there can be complications called out to get your free guide understanding that traditional IRA beneficiary designations at 803934001. That's 803934001. And he can also download it right now from our website Armstrong advisory 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. We wanna hear through the thanks Steward diaries 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. This segment of the financial exchanges brought to you buys you rent your landlord. Take advantage of the rank of the automatic on line rent collection tool. That is free for landlords with an account to depart to spend bank and always free for tenants now collection of local banks are offering this unique program including. Leader bank and stone bank sign up an average payments deposited directly into your account. Call 781641. 8691 today or visit Z rent dot net for more information member FDIC. So going dark text line and by the way are tech's number 63566. Bury my town. Falmouth Massachusetts has a 300. Million dollar unfunded liability in retirement who just guess what's gonna happen to property taxes and Thelma. Massachusetts a pop up. Let me give notre issued a town meeting. Brady in some day you go to town meeting in westerly track and in the you'll hear these numbers you read them in the local paper. In the you'll say to you wonder what my property taxes going up so much that's why that that's that's part of the day listen. It in in in the promise actually know someone who does a lot of work down on one of the town boards down that way. Mum and in the problem is you have a lot of people who have lived in those towns. For nearly 4050 years against him it's like the property tax go up and they have to move. In their fighting these property tax increases but the problem is they should have been paying these taxes all along in the town just wasn't collectively they just more collecting enough money and its. It's it's not good. I kind of like our electrical grid nobody wants to pay for the electrical over you know do something very. Finally writes Barry I'm a 36 year old guy if I can't stuff you're screaming infant into car broke my sleeping dog can stay under a seat. Here's the difference. Mice screaming infant is a human being your dog is a portly yet. No worse and rested well does that make you very mornings when it's all said and done like. You know. It never go to like a football game is not a huge difference between you know we're just all you know you got a bunch of people with their shirts off out there to hairy people in the crowd just kind the only each other you know but I'm not actually dogs sleep you know sitting next to a screaming and unless it happens to be. My granddaughter so again I think open up the cargo hold every one. I think I think if you do that you solve all the problems cafe down there who opened the cargo won a narrow everyone and say look. Beyond based economy we've got cargo okay 200 dollars for an economy seat you wanna go and hold. Fifty bucks. I guarantee you people would go in there you got dogs run around to be a B will be like it can be beautiful. What could possibly go wrong. Let's go to that was a rhetorical yeah. Should dogs be allowed in the main cabin of an airplane only 38% of you think they should. So 62% of us say keep your damn dog out of the main cabin of our money we don't want your dog's got talking about infants were talking about. Four legged tick infested flea infested talks we don't your dog in the mean cap that's another problem MacKey fleas or it. You're your your kid at the tick on your dog jumps on yet occurred has please. Does it I might a little cute little at a dinner is it again you have fleas or still. Reef please read so I as fleas again. I I've been. Eating a bit. Following this company tests. For the longest time. And I never bought their stock but it always admired their product I love their car. However. Tesla employers employees. Are saying that the auto maker is churning out high volume of flawed parts. That are requiring costly. Reworked in this chart is contributing to why they can't hit their target area India Elon Musk called it. And refer to it is manufacturing. Hell. It in this was my big concern you know the last year when they said they were getting ready to ramp up for the model three production I simply thought look we're not going to be able. Or rather they're not going to be able. To get this done quickly enough simply because you're going to run in the manufacturing issues and insert off that that's what's happening here I mean the the the problems that they're going through. They're not really unexpected. It is that they they said oh we won't be we won't have any problems you know we know. This is a huge undertaking to go from that they're talking about going in a span of two years they wanna go from 80000 vehicles a year. Up to 600000. Total between all their models. No one does that and there's a reason no one does that it is no one can do it contessa is finding that out. They are running. You know six to twelve months behind on their schedule and quite frankly. That's what they always do have always said you on must just two things incredibly well he does build a good product the and he is the biggest cheerleader of his stock that I've seen from anyone since Steve Jobs he he generates more excitement from his. Meetings are speeches or tweets than anyone else out there what he does not do particularly well and he's admitted this himself and will be the first one to tell you. Execution he does not stick to a schedule well and you know the big question news. You know what's what's gonna happen next month when they report Q1. Right and because what they they backed off their production estimate from 5000 to what 2500. A weakness in march. Yeah and it looks like they may be close to that now be based on the sales numbers in the delivery numbers that we're seeing they may be close to that. So it's it's it's going to be it'll be borderline as I think they have a chance at getting there maybe by the way we have attacks from five away I don't want kids in the main cabin either yea cargo hold cafe on telling you the cargo hold is going to beat this is coming. This is comic art or cafe. It's going to be like you're on one of those C 130s that you strap into the side you he kicked it up to go the bathroom there are no battle goes I know you're you're just strapped to the side of the plane inside obviously. And parachute. That's extra 25 bucks extra 25 bucks if you wanna paerson. At any rate. And in other issue for Tesla in aside from their production issues. The also lost two high level executives in one week. Is their corporate treasurer left that's a bad thing to to boost. And then their chief accounting officer left and remember they still haven't raised their capital member lifted if you do know the capital raise and the easier to keep people to the capital. Yes I I was looking at that and they're gonna have to raise probably. In the next really four to six months that's about the runway that they have right now. You know they they've got to do probably somewhere between a billion and a half and three billion dollars depending on if they wanna go back to that well. Sooner rather than later so big they got to do a big raise. And I just I. I don't know if you lose to people like that though those are people who were pretty critical to getting out worked on. You know I've always maintained that this is a company right now it's trading at 326. Dollars this year. In its market capitalization is 55. Billion dollars and at the last time I checked it had a higher market cap then forward in those darn near out the same market cap is General Motors. Did this a company that could either one disappear in its entirety. Or it could go from 300 bucks a share to three bucks a share overnight because they've got a ton of debt. I really question whether they're going to be able to get anybody to buy their bonds the next door yeah I mean you look at their cattle truck it's atrocious. It's again he is a testament to you on mucks at the U on mosques salesmanship. That he's even gotten them to this point. Is that they've been brought it if it isn't the profits that are getting in there it's his ability to sell the future. Home Depot is sending us a message and we're gonna. Talk about why you might wanna be nervous about your investments that's next on the. The financial exchanges and live on FaceBook so make sure like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. Hi this is very Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business they have a tax incentive program offered by the economic development authority that could help save up to 90%. In your federal income tax here's Wayne bigs executive director of EPA. This is a program that's. Fully approved by congress has been in existence for about 45 years of we have several companies that are doing that currently and we effectively reduce federal income tax because we do Ameritech's system where we use of federal foremost with the money sees him territory at a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us to tweak our tax rates if Europe. Business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its USD. IED a dot or best US. VI EDA dot pork. Okay skiers and riders let's take a look at your long range forecast for Mount Snow Vermont. Monday snow Tuesday no Wednesday snow again Thursday no seriously Friday snow Saturday more snow okay who's been Massa win my script Carol c'mon that's not do without you know every day really. When you on the northeast most powerful snowmaking system just two hours from Hartford you know you can count on grades LLC and loch. Mount Snow live to get there until now to get yours now at Mount Snow dot com slash. Ain't if you're nearing retirement age and have yet to set up a trust to protect your assets do not change this station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your estate taxes and avoiding costs associated with probate if you're over sixty years old and are preparing for retirement now's the time difficult time let's -- time as a partner with the law firm of Cushing and Dolan and an expert an elder law they'll walk you through the process step by steps of the your -- set up properly and efficiently other several kind of trust to consider but reputable trusts are extremely popular to establish the kinds of protections were talking about the time has written a new guide out this month to help you understand all the particulars it's called the operations guide tours applicable trusts into tears are trading by calling 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 8668485699. That's 8668485699. Are better than one that everyone knows that and where I bring to mountains and one. You can I ask him about that mounts in the paint on the legally. There's a twenty minute aren't and number one in the dark continent. You're out in the one WR downhill this cleaner and added tax and clouds and that. You out it can't dot com for more. From me and hi this is chuck is not in I'm joined today by an estate planning attorney Todd lots key. From the offer of cursing and Dolan with your financial exchange quick tip of the day and Don we're talking about how Europe Opel trust operating. A lot of people are afraid that if they transfer money into an irrevocable trust that they give up control of their assets they have to ask permission to do anything. Is this a valid concern. You know it's not a valid concern but it's one that I can understand right people in general are gonna say. Like her durable Coble trust to lose all control and and for a lot of years that's true and for different kinds of trusts that's true. Not for the kinds of trusts if you're concerned about Medicaid protection. This kind of irrevocable trust. You do not lose that kind of control at all what kinds of things can you still do in a near Boca bull trust that you don't have to give up control so let's say you put your house. And lived there you can pay your bills you can rent it. And you can sell. And you can buying a house with the proceeds and it doesn't even restart and waiting periods it's a wonderful flexibility you can also put in your investment portfolio. And and you don't even limit. The types of investments that you could invest in just because it's inside the trust some people get concerned that their trustee may misbehaved you have the ability to change trustees if that's the case you do we have the ability to change trustees and put on anybody else that you would like so. You have that kind of flexibility as well and you can even change beneficiaries. On the trot so. Folks in valid concern you don't lose control when you put assets in these trust in you don't give anything away. Folks there's a brand new guide out from Cushing and dole in the details these very issues it's available by calling 8668. Horry. 5699. Its title and operations guide to the use of irrevocable trusts and again that number is 8668. Or eight. 5699. Or get it online at legal exchange show dot com. It's hard to dial a phone or send an email list to dumb but it's easy to text we've got and tech sign up and running when you can tell us what you think right now but texting us at 63566. You skewered Barry and join our exclusive club face there's the financial exchange radio network. As it relates to our poll question is should dogs be allowed in the mean half of an airplane. The polls tightening up just a little bit Tucker you're doing better than you were published our. 39 point 4% of our listeners agree with you that dog should be allowed in the cabinet. But I will tell you the full sixty point 5% of listeners think no they do not belong in the mean it happened. And I got a couple text messages that I just feel the need to share their regular bolstering. My idea Mike Furrey. 603 right bury my dogs are like my kids all four of them. But I realize not everyone else feels the same way. And out of respect for others they do not. Belong in the mean to happen thank you 63. I too and the dog lover love dogs just I won't bring my dog on the plane I would ask that you also not bring your dog them. And then chucked 978 has a policy question yes. It if I'm in the cargo hold and I get off the plane person these tickets this new class of travel you're gonna create if we're in the cargo hold. Do we get to get off the plane first so it'd be selling feature. The other the first thing is we're we're going to have to rebrand this in it it can't be called cargo because view that that that just sounds kind of it sounds a little impersonal so we're gonna have to work on a little re branding their bought. One of the perks that you get to traveling in the cargo hold yes it is you get to. Via the conveyor belts and who do you get to go down the conveyor belt when you get off the plane so let me tell you. Not only is it cheaper but you get to go down the conveyor and that it's fun and that's one so I'm again I do. All like it it's about it like do they didn't take in a little truck and and put and I come out in the baggage area yes that's where the rest your party will pick you up. We'll keep a mad he he'll be outside though it's gonna be winter break. It's awesome. And also instead of a traditional boarding pass you just gonna get a bag tactic it's cooked around your wrist and hands. So it's different boarding process to. You know what the applicable slide. You what's up with. I'm down with all that idea I think cute guy you're on the subject I'm telling you is we we need to rebrand it from cargo class to its its got to be called something it's got to be called. You know something. Kind of blew a little bit more mysterious it's going to be dark so maybe. It's something that you know the dark room it's the dark room was innocent thing like that are what will continue to work on it all all of doodle it for a little bit. Okay I. Why should every investor be terrified by home Depot's flight one thing I'll point out it aside from Home Depot. Retail sales and in the tank for the last three months girl. You have the retail sales numbers of not being great and Home Depot in particular does not seeing the kind of margin stability that you like to see. For. A retailer really for any company nodded at the margins are declining right now. And you just not seeing stability there and this is a couple factors there I think the first. Is something that we've talked about Atlanta which is the emergence of Amazon into this area. And you've talked about where contractors now. Are able to order certain goods from Amazon and haven't delivered direct jobs say they don't have to send anyone offside anymore it ended and. A Shaka tell a story about that. A contractor as work and it was ordering toilets. But got it and he was able to get the toilet delivered to the seventeenth floor of a building in New York City. No delivery but he he cut it ended up costing like 400 dollars less than need be bought anywhere else and he was able to get deliver on the day he wanted. Yet it's I think that is going to continue to be a beat big driver on this side. On the other thing it's that it's interesting when it comes to Home Depot here. Is you know that they have been one of the most resilient retail companies over the last. All decade you know as we've seen this shift. But it does appear that even individuals now or looking away from them. In towards other options I mean I've done that a couple times I just had to buy new soft I went on Amazon's I found a better deal there. That I could have gotten at Home Depot was 26 dollars on. So yours is based on pricing the eight years is EU you do it based on. Cost of goods because a lot of contractors who tell you the this this particular guy that a stock and about as it relates to the toilet. He said that even if he had to pay more from Amazon he would do it because it would cost him so much to send his worker. All the way out to New Jersey to go to Home Depot. Drive it back into the city and then haul up the seventeenth floor it end up being a lot less but he said. Barry the cost of having a man out for four hours to pick up the toilet at Home Depot was pretty high. Yeah I'm my big thing again I just needed a new basics all in it was just a lot cheaper on Amazon than it was on -- it was like fifteen bucks cheaper knows him who think human well why would I waste the money there. You know. So let's say to you wanna buy dishwasher right if you know what's happening is Home Depot is going through the same thing. That best buy went through that Toys 'R' Us went to close at Barnes & Noble went through yup it's now if infected Home Depot. A give you another example. Three weeks ago my daughter who lives in the back bay her dishwasher breaks right the guy is it's it's Capote right. What does she do she goes to Home Depot she Scopes out what she wants right she looks at it. The tree goes to a phone she bought the damn thing on on campus on deck and in gets delivered for not done that you know it's like. The bee in his arm. You know I I how many years that we've been talking about. Amazon encroaching on Home Depot and lows been but two's three now it seems like it's finally reached mainstream. 88 Toys 'R' Us rate they're closing all the stores this week right yuppies that that's an Amazon effective sat. Barnes and all the what was it like maybe a month ago when we announced their firing like two thirds of their points up. It's it's just you of people continued to look at Amazon and say where's the Mac's market cap -- what's GDP that's what it you know that's how big you could get and I wouldn't be surprised at some point I mean that. At some point again I say this as a shareholder of Amazon and I do think that their antitrust concerns. So. Rarely if you. It's the note that no once you've won a talked about it like I know what I got. I don't understand it but I won't here's what here's where nobody talks about chuck is because the represent like 4% retail sales the F one. It's true that. That that's Steelers but you know now there what is twister it's gonna cost 30000 jobs. Somewhere in the ballpark ya it was Barnes & Noble please excuse many house of the nose drops eater tennis thank. And then Home Depot community image in the east they start nibbling at Home Depot because I'll tell you what they don't know right all the sudden. They've got people that shoppers in Home Depot looking at the price of dishwasher straight. And then they know that my daughter needs new dishwasher wide issues looking for one on one. Tool they sent her a copy of a flyer for a whirlpool dishwasher. And it's fifty bucks less than The Home Depot store we'll get of course she's gonna buy. The good thing the good news on Amazon is if they do take over the world we don't need to change the initials for the country pitted just the united states of Amazon good USA you know if you don't need to rebrand so to do it's it's nice on that. I'm not count. Please do you own a profitable business many viewers successful I know that because I've met with you wouldn't and in due home you might own a construction company I don't know. Consulting firm in my I don't know software company. If you're making lots of money you know that your number one expense is tax rate you pay lots of income tax would you pay I don't know 40% income tax between the state the Fed. We pay corporate taxes. 26% probably right when he won in the new year in and another five on top of that. If you're sick of paying New England related taxes think about moving your business to the United States Virgin Islands. You can move it fair and you get in 90% reduction in your personal income tax you get in 90% reduction in Europe. Corporate income tax. And there is no state tax in the Virgin Islands if he'd like to get an information package. That describes all the features and benefits of relocating. U or successful business. To the United States Virgin Islands and give your phone numbers operated raced down. The number is 855622363428556223634. What you can do. Is get bad information package and then the first thing I want you to do show it to your chief legal counsel. And throw short to your CFO but the fact of the matter is take a look at what you're paying for taxes there's a better way. Called a Virgin Islands at 8556223634. And request their information package. Doctor Boston area doctors are among the lowest heat in the nation this didn't make any sense to me at all because I think about all the great hospitals and medical facilities we have a New England. And I would think that the doctors are well paid turns out they're not. Note if you look at it from a supply and demand perspective. Every doctor wants to work in Boston because you get to work with the best embrace the best facilities on cutting edge treatments and so facilities can say hey. We don't need pays much can we got our pick of the litter everyone wants to work at Mass. General liberal wants to work in Newton Wellesley everyone wants to work it tops. Where people don't wanna work. Is out in the Middlesbrough where is Neil in in Missouri you know people people don't go out to the tiny town with you know 200 people in Missouri to work because they don't want to win so you have to pay them more. To get them out there and so. Boston doctors actually are at the one of the lowest paid regions in the country still averaging might I add 3161000. Dollars a year so you know they're on seats and have not low pay it. A lot of money that they you know it's not uncommon for doc I talked to of one of our client city and even use. Dental. Instructor against teaching dentistry yup he said that he saw kids graduating. From dental school and start going into practice truck with 700000. Dollars of student loans 700 pounds yet it's that's a dentist. It it's a lot but the wages. Make up well immediately gets. It's how at all they have seen how long view with the payment on a month per month 700000 dollar not so I mean you're probably going to be pain somewhere in the ballpark of four grand a month. Yes somewhere and easy it it somewhere in that range. And again if if you're making 300 to four and 2000 your wages support it now. I'm not saying that it's it's something that is. Ideals when it's it's not like you're coming out you know is a lawyer today where it's like GM got a 160 grand in debt and the industry's collapsing. This DC area say I can find a job no problem. You know like when's the last time you're a doctor not being able to find work. Right. They coming up will be talking about coast we'd banked in Rhode Island that you were acquired yesterday we'll tell you who bought them. And how much they paid and what does it mean for the future of that financial institution. That is next on the financial exchange each. Vote on our daily poll question had financial exchange showed dot com while you're there buyer of the media player and watch the show while you work. This case the financial exchange radio network. If you're nearing retirement age and have yet to set up a trust to protect your assets do not change this station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your estate taxes and avoiding costs associated with probate if you're over sixty years old and are preparing for retirement now's the time we called Thai blood ski time as a partner with the law firm of Cushing in Dolan and an expert an elder law they'll walk you through the process step by steps of your trust to set up properly and efficiently other several kind of trust to consider a reputable trusts are extremely popular to establish the kinds of protections we're talking about Anton has written a new guide out this month to help you understand all the particulars it's called the operations guide to a remarkable trusts into tears are trading Michael 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 8668485699. That's 8668485699. Hi this is very Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business day of the tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of EDA. This is a program is fully approved by congress has been in existence about 45 years that we have several companies that are doing that currently and we effectively reduce federal income tax because we do Ameritech system where we use the federal forms of the money CC territory and a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us that we cut tax rates. If you're a business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI EDA dot or best US. VI EDA dot org. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent today we're zero and leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot -- to learn more or call 7816418691. Okay skiers and riders let's take a look at your long range forecast for Mount Snow Vermont. Monday's snow Tuesday snow Wednesday snow again Thursday snow seriously Friday no Saturday more snow okay who's been Massa win my script Carol c'mon that's not they would value snow every day really. When you've got in the northeast most powerful snowmaking system just two hours from Hartford and you know you can count on grades LLC and loch. Mount Snow live to get around still mounds and get yours now at Mount Snow dot com slash states. If you work hard for the past twenty years and enjoy a healthy savings account you're in a solid position to enjoy it later life hi this is chuck -- saving money for your retirement is half the battle but making sure you leave it to the right people that's the other half beneficiary designations are not an afterthought and while most people try not to think about what happens after they passed it's important to set up your beneficiaries properly to ensure you protect your well. My firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designation because believe it or not there can be complications called out to get your free guide understanding traditional IRA beneficiary designations at 803934001. That's 803934001. Or you can download right now from our website Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Security suffered through securities America income members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated it's hard to dial a phone or send an email list to dumb but it's easy to text we've got and tech sign up and running when you can tell us what you think right now by texting us at 63566. The skewered Barry and join our exclusive club this is the financial exchange radio network. Tucker was quite confident that most of you would approve. Dogs being allowed in the habit of an airplane. And I just want to take this opportunity. To. Remind Tucker that he was absolutely and Cole were completely. On the wrong side of the equation 64. Point 3% from listeners keep your damn dog off the plane that means happen. And 35 point 6% agree with you talker that auction yet just to clarify I only said this because they should be tucked away immediately and years seat and carrier. And not like out next year that's pretty much were getting. Yeah with that. Then there group is in the carrier. Yet and it smells up the whole darn plane. With your ducks got please. I don't know well that it took they got it out earlier jump out neatly crawl my like add to what doctor Amy really believe people like fleas. Well yes I sat next to a couple people that you went to know each hour is at last count 978 rates. Gee can I bring my behind on the plane if he's and I am very idea of what's next race did you get a letter from your doctor but that's really neat now. A fake letter from a fake doctor can bring your beehive on and it's not inaudible as. Yeah I wound. Our coast late bank was acquired yesterday. Harbor one Bancorp requiring. Coast way and harbor one is actually believe that the biggest coop bank in new wing and now. And soon they are buying coast wave Bancorp. Which is being around a number of generations almost a hundred years at this point. If they adequately finish urgings yeah I mean is this deal here it's it's an all cash transaction it's gonna cost about a 125. Million dollars. And so coast way. Has about 739. Million dollars in assets deposits of 477. Million when you combine and it'll be the twelfth largest publicly traded New England bank. Based on total assets 65 locations between the two companies. It's playing you consider continue to see banking consolidation and very few new banks opening. You don't say this is an industry that's been going through consolidation and I think the consolidation chart pattern of what you but I think. Financial service consolidation will continue. Because it's still even if they're they're going to be a big bank to have what 65 branches. But they regulatory costs and regulatory hurdles that they face are enormous so I think you're gonna see banks like ghostly. Merchant banks like. Rockland trust what People's Bank the they're just the theory you as a small bank it's really tough to keep it to stay in this. Yep I'm curious what this this bill making its way through the senate ends up doing it's it intended to ease the regulations for smaller banks into it maybe deal way in the house so we'll see if it ends of getting through. And point to now be get Elizabeth Warren thrown rocks that now what are its article in the senate. I know but she knew she she fought the whole way she's claiming it's gonna lead to another Bear Stearns and whom anything can lead to another bear that this this I don't get too concerned about small banks doing this and in the ones that make I'd artists are if if the big ones do. And unfortunately they're more consolidated now than they were before so yeah. There ago. Amazon's internal. Numbers on prime video were revealed I was shocked to see this I was also shocked to Julian is on spending five billion dollars a year making TV shows. It's you and movies. If it's more than I thought but if I think it's a huge winner for just because the people it gets into the ecosystem rate so you have there are five million people that joined Amazon prime just because. Of the content that they had on either. Their TV shows or music or anything like that. It's five million people that are now in your ecosystem that all of a sudden are going in buying things far more frequently than they used to. Exactly it's money well spent to VH one of those people spends do just those five million people spends thousand dollars over the course of the lifetime. He got five billion revenue right there it's like look it in easily over BO 1020 year period are gonna spend more than a thousand box. See that's an advantage they have over Netflix isn't it does Netflix is spending seven billion but the only source of revenue Netflix has is coming. From subscriptions. Yet that this would be like if you know there is the company's broadcasting. You know March Madness C got in a CBS and turner that are broadcasting it. You'll feel like if they also owned. You know car company that was advertised because they have that direct sale right so it's. It just. Is there are somewhat unstoppable. They they that's a huge advantage for them. Yeah they eat they don't care they make money on prime that he and they've all they want. They want you pay your hundred bucks a year. And going to spend 800 bucks a year isn't that the average bodies that are bucks a year being spent on in is in their ballpark and the thing I realize they have more people watching these shows and I realized 26 million customers who. Watching Amazon prime video tired and I thought I'm going to be. If you don't like is they fear they don't have all the FCC restrictions they can do whatever they want you know that BP don't have that Netflix and Amazon. Have better shows because they're not restricted to a by it'll be it showed this on television and they do whatever they want all the directors. They'd rather work for Amazon and Netflix at a wanna work for CBS Olympic they'll take less money. To work for. Amazon and Netflix then they would if they were trying to get contract with CBS or fox or MGM they just they. If it's a better deal yet because of their creative. Characteristics. They're allowed to implement them anyway. Wrap it up for today the Dow's up 230 points thanks for tuning in to the show. It's very sharp and Tucker signing off from the financial team.