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Full Show 7-12-18

Jul 12, 2018|

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This is the financial exchange with the Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chunks. In. The price of gasoline is almost up to three dollars a gallon. Quit yesterday. The price of crude oil had its biggest drop in almost three years I everybody's buried truck with you here it's a Thursday morning. At CPI number came out this morning chuck embodies thirty. Eddie though the monthly number wasn't bad when you look at the year over year we're approaching 3%. Yeah we're starting to get there and that's even before we have factored in any of the increased costs for some of these tariffs that have recently gone into effect. That are likely going to be trickling into the economy probably somewhere in August to September probably going to be. You know a couple months before you start to see the impact of them in the reason for that. We'll be shipping goods from China takes about three weeks to get them over to VS in the get distributed was in the US and finally they get bought off the shelf so if the terrorists actually going to. Will they have done that the first round which yet modest rate most it's 34 billion dollars worth of goods and now it's it's. That's 6% of what we import from China suits it's not often happen who has to customary Merck and sixty bucks a year. It's it's it's seven billion dollars in additional cost me it's if it's real I'm more afraid of the second round of tariffs going. Because those are more retail oriented it loser. You know would I go to buy a new pair a sneakers they're going to be significantly more spent to keep in mind I'm on the first one the other thing that happens as a result of this is companies that are in that next round it may be targeted and start looking for alternate supply chains is they say look we don't we we need to have a back up plan. In case these goes through was not here we cut that raises cost anyway and so. It's not just the goods that you know you see this on it to any company that sells a product where you have to have. Goods currently important. They're sitting there saying look we need to have a back up plan because if we end up with the goods that were buying being taxed. It's going to affect our ability to do business they get Kudlow on the Fed not raise rates if I don't think the Fed can raise rates that quickly I've. I think the Fed is. Deep crap isn't the right breeze but they are between a rock and a hard why right now well so here's the situation era political. What's that. They are supposed to be April that I think they do a pretty good job of being a political. Here's the reason why I think the Fed is really in a tight spots we have the dollar's strengthening significantly over the last few months up about 6%. What that does it fuel in emerging markets country. It creates a capital flight out of your country in the short term because people say look I don't wanna hold any local currency in Bolivia or Ecuador because it did doesn't make sense street Holden who's 5% against the doll I'm not gonna buy a Euro. I don't wanna be holding these foreign currencies in the seat the it was more stable it's it's not something that divisional interest rates. You buy ten more the treasury but your music anywhere and in that you again but you know tonight if you had a choice if your a sovereign funds are gonna choose the dollar the Euro the depends what you need. You know if you have expenses that are denominated in Euro isn't gonna keep in Europe is Needham. You don't need to hold bull of ours and he pointedly is not something you need on a regular basis of your pension fund. So. Yeah markets have been getting whacked because this this capital flight the problem is the Fed raises too quickly. The only straight pins in speeds up that capital flight which. Historically hasn't been something that directive directly affect the US economy too much except. You go back to late ninety's with the Asian financial crisis and that's pretty much exactly what happened there in 97. And so especially now the world economies more intertwined. If you have a significant slowdown in Yemen in a recession and Symbian countries. There isn't spill over effect into the US and one thing that's been quietly happening if you take a look and mostly this is in China just because there are also the direct me a target of lot of US. Ire at the moment. High yield debt and China is the highest prices that its highest yield bin Laden in about two and a half years for them. North at 10% so. The high yield market in China is pretty much screaming saying look you need to fix this because otherwise things are gonna are going to be pretty one China has hinted overnight that there extant and perhaps having. They they might it's and it may be getting to the point and you may be dead on when you say look this will be over by the end of August and I'll be. Phenomenal for the Chinese I'm not saying they're on their knees but the are. They hinted overnight that they're prepared to meet with president and have a conversation we'll see what it means you don't have a conversation I don't know of the two sides can get to an agreement but. At least maybe we see some progress being made well when your biggest customer. Says hey we're gonna we're we're not happy you have to respond at some point you know that's about what that my perception anyway. Average price of gas we although it is right now I'm not telling you any secrets here it's around. 295. To 305 a gallon depending with state and and analysts though is suggesting that gas prices have to hit 350 or even four dollar a gallon. In order to put in a dent in the US economy. I am not sure. That they why has that changed Olson. Where it would wise it now for boxing count is okay. Where is years ago you know any any number two is a problem. Higher US production to be completely honest there are significant parts of the country that benefit from higher oil prices and point. You look through Texas Pennsylvania you can like Colorado was is blowing up now in terms of oil and energy to go I felt resolve the marijuana is well well it's within one and then whats the difference in the broad scheme of things you know once fuel for the solely others fuel for your car Mina. But it's he you're you're really seeing in some parts of the country now the parts of Texas and we text is always been dependent on oil if it's almost Patrick state some in some areas you know. They get it they're trying to they're dipping if the of Texas credit for those they are trying to build that other aspects of their content when they they've done a nice job at the development around Austin with all the tech development on on there and things like that. But I think when you look at it and I've said this kind of the last six months now because of the oil that were exporting. Higher oil prices are not the net negative to the US economy that they used to be gap compared to ten years ago or even five if you used to be OK we have to pay these higher prices and send dollars overseas to someone else. And now tape we have higher prices we can sell that oil to someone else actually make money on its own not only that it's US jobs correct yeah exactly so. It's. The calculus ships a little bit when you look at the amount of oil were producing right now currently it's just under eleven million barrels day estimates that we're going to be close to twelve million barrels day on average next year. And demand is rising rate demand for oil. Is rising to bid for the last twenty years chart oil demanded risen at a rate of 1%. Now it's one half. That doesn't sound like a big difference but that half a percent difference is significantly today in terms of the pricing gap which leads to my next question. Why did oil drops of Manchester I was driving home. And all of a sudden trapped Tucker. Tucker the father to be. My favorite new boy. The researchers thank all of us I think all of the sudden the price of oil. We use was down from lake had been scraped and upping it 75 notes at seventy dollars and 27 cents a barrel while. Yeah a couple couple things that happened yesterday kind of pushed it down in this direction number one. US and exports from Libya that are going to be resuming after some fires were put outs. In some big ports down there over there rather. Number two secretary of state Mike Pompeo said that the US may issue some waivers for US sanctions on Iranian oil so kind of weakening you know if you're already said about North Korea to. I did but I can't remember what was said in the meeting in North Korea could not have gone worse. Owed to the I didn't hear that no. He is is I like he actually said yeah I like him he's yeah I keep just that's a good quote right there couldn't go outward up. The wars the sanctions day apparently were lightening up on some sanctions against Iran yen in the and the other thing that we saw is with the announcement yesterday rather earlier this week. On the potential for additional tariffs on Chinese goods. The thought is well that would result in less trade in less demand for oil. And so that was part of the reason for the sell off as well you've also got stronger dollar that I talked about earlier so that's helped to keep you know the price gives Saudi Arabia any credit for us. Didn't sound and everything Christen them I give them a little Smart for them I mean it like. If they can go up and produce an extra half a million barrels a day or Russia whose economies reeling right he's the increase production by half a million bucks a day and it. Half million barrels a day that's more money in their puck while the chatter by the way that the aramco IPO not happening ever. Lot of chatter in the last week it's just it's cooked you know it's the and and I'm not sure that's the worst thing in the world. I think the big problem is they they they can't find anywhere to listed that it's the between. There's there's political things going on there there are economic issues I I don't know they can overcome all of them to find a place to listed accurately and edged don't know if they can the new hole. A student debt in three different charts I saw this in the New York Times and as I was reading it accent I am so sick of hearing about student loan debt I just. I I I want to use Stewart more sick of hearing about better terps. Student loan that there was a period I think connector and a year conditioned to have hottest tech and I freeze when I turn up just give and Mena. I'm pregnant I'm going through menopause let him what to do what it means I lose my pregnancies carrying. He's just carrying his wife's doing all the work they look like he's show where I had a 66 degrees I'm gonna freeze 66. That's I'm just every time I got her prestige free the housing market is in decline because a student loan debt and he just. And I'm sick of I'm sick student loan I don't wanna I don't wanna I wanna final resolution of the student story don't borrowing. Well that is my question you know be I might. Listening to the student loan problem. For the last ten years seems like. On a daily basis. I've come to the conclusion that the government should not be in the business of loaning money for kids to go to college. Walk me through. Well my thought processes. You don't beat the government now. Will guarantee I think what about 30000 bucks worth alone in that ballpark Leo and that's on 500 bucks a year thing and that's on the signature of a seventeen year old Ernie team yes right no parent told their commitment not a war no under no Smart if you met seventeen year olds yeah I haven't and and you know if ever also met college professors they have really. Good friend his college professor he told me in the professor Carnegie Mellon rated good school. He said Barry about one half of the kids who work in college today. Should not be. I agree and in part of it is. Americans are really bad at understanding statistics. And specifically. The fact that. Correlation doesn't imply causation what I mean by that everyone's as well wolf you go to college hearing comes a higher. Or maybe that's because originally just the Smart people were going to college and maybe that's will you know it was necessarily that college made them smarter college got them higher income. It might have just been hey. The Smart people were the first ones who were going there and it was an all that's where we all need to go. But in fact what you end up seeing now in I was talking to someone just yesterday. In the pipe British union movement and was talking and I said look if if someone's coming out of high school when they're just going into your apprentice program what do they start with what do what do they seized our news and in year one when they're when they're eighteen he said. You're gonna start at seventeen bucks an hour with benefits. And as you go through by the time three or five year partnership program. You're going to be making beer in north 20/20 nine bucks an hour with benefits and you don't have any student loan debt and making a 5560 grand a year right you got a solid job that you can't send overseas benefits and I sit there and I say. Why the heck are we sending more any sane what we we are full point that we don't have who were looking for people higher right now Olivia an electric boat. Guarantee they can't find work can't find enough workers and so. I fully agree I think we've made college a one size fits all solution and it's not there are no one size fits all solutions so you wouldn't be disappointed if the government got out of lending money for student loans no I think the private institutions could probably handle it. I think Andy argued that it's not like the interest rates are Grady that the rates might be higher in some cases you know but. Pay the loans would be underwritten and they'd be looking at an eight seed bank in a lender would look at it didn't say. Okay you're a dope in high school you barely got through high school. And yet you wanna go to college and study sociology. They like why are we why would we underwrite that alone whereas if you had a kid who was. For role in honor student in high school and he wanted to be an engineer that's probably pretty good loan. Under is twelve and the other thing is if banks are really in the business of trying to underwrite this in terms of what they're gonna be paid back now. Whether to set up look when you graduate from college and we're gonna take 10% of your wages for the next ten years in the new dawn and and that's what and in a I've blown the bad that you get you know some pretty decent OK here's how much will the Lindy based on this degree here's how much regular bike. You we wouldn't even be in interest rates just look we're gonna take 10% for ten years. And if you make a fifty Randy you're great you're gonna pay and other countries actually do I inner if you are studied how other countries cover student needed to gives you something where you're not carrying around this burden forever it's based on how much you Warren and it's it's based on. You know what actually makes sense in dollar terms not just pay whatever. That's our poll question today folks do you think the federal government should be guaranteeing. Student loans are hurting voted and I said absolutely not. You can text us your thoughts on that topic. At 63566. Don't forget my first name at the beginning of your text message that would be Barry BA RRY. When we come back. There has been a little bit of a trade war fallout we're going to be talking about the price of soybeans when we come back to the funny to exchange. We'll look Cunningham should do business and financial. It's the financial exchange with a very Armstrong and chuck son on the financial exchange radio network. Hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamlined the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to tennis -- called the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them on line and -- deposit dot net member FDIC leader bank a step ahead. Are you having problems the blocked sink or drain. What leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've that all kinds of trouble trying to get people who can come in and do capable qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cold easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. Everybody it's very Armstrong and Jake tool GA is the executive vice president at leader bank. And we're here to talk about a brand new product available for landlords it's called Z deposit dot net Jake. What use the C deposit. Barry we created a security deposit product. To really help the problem a lot of land border facing with security deposits which is. You know one it's time consuming to open the small internal security upon numbers sons. And yet to go into the branch got signed paperwork and their small dollars and Andy turn. And it's likely to complaints in Massachusetts really tough for landlords and security deposit accounts. You have to give them ten in certain forms when they open up the count and you have to pay interest and you. And we should do all this canal through Z deposit all of that you can do Thursday deposit it literally takes about forty seconds opened up an account. We handled the automatic forms that are generated the count number department condition statement all that since the tenant. And the interest descent to the tenant. Automatically every year. This sounds like something it's going to be very valuable to large landlords it might have 200 tenants and small landlords that might only have five tenths yeah absolutely with a large landlords. It's just a lot of hassle to managed so we make dad very efficient for the small landlords a lot of them are afraid of nineteen complaints done correctly so some of them. Some of them don't even like taking security deposits were hopeful that this hope and do that. Folks if he'd like to learn more about C deposit go to their website Z deposit dot net. Or you can call and speak to somebody on disease deposit team it's 7816418691. Or online at Z deposit dot net it helps. Landlords manage their tendon deposits to great concept he might wanna learn more about 7816418691. Securities offered to securities America income member senator SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated if part of the financial exchange in an instant. By texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new text club tell us what you think 24/7. Right here on the financial exchange radio network. Oh. You need to farmer today give them a hug because they're having a rough year the price of soybeans. Have hit a ten year low dealing a blow to American farmers. The price shock of a bushel slid eight dollars and 55 cents yesterday. That's a 13%. Decline since the beginning of the year and you think about this like we think about if you were you know if your business owner out there. And all of a sudden over the course of six months. You have to figure out how to make up for 13% drop. Ian what you can charge for your prop too while your costs have increased pitcher price of fuel has increased during that same period of time it's it's just it's it half putt for these farmers you know there really is here they're they're not going to be happy. The the the issue as early it's too you know you you look at farmers and they're getting hit by terrorists today because the Chinese are buying and as much American soybeans is used to. When will the rest of us start to feel the pain from tariffs or will. Largely in September and probably August September October OK at least for the ones that have already been implemented the ones that are still being discussed right now the the tariffs on the additional 200 and it 200 billion dollars. Worth of Chinese goods. Those likely are not going to go into effect until September and so you probably wouldn't feel those until right around the holiday season. It's usually about a two to three month rage too when you finally see those cost actually being passed through but sometimes. Look at insert that he has as this the shell sorority stock and yet they eat in in a lot of cases if it's not something that is an irreplaceable good you know before talking like beanie babies and stuff like that look you have to get through the existing inventory than ship moreover from China and in it takes some time. In some cases and we have talked about this before my brother in law is a project manager for a contract down and four big commercial company. And they were beating on a fifty million dollar project and they had to raise the cost of the steel in their bid. By about 20% even before the tariffs went into effect in the reason why. Is is every contractor out there was buying up all the steel that was available right saying look we don't want to deal and opened situation where we have to pay more or or we can't get it and so the price went up even before the tariffs went into effect in that case. It's so there creek to rise since loaded declines. It's always like that is gasoline the same way like that you eat. You hear that there might be gasoline shortage in the series the price or twenty cents down and didn't shortage never curse but believe me prices pretty sticky on the way down. All right I'd mention that I am sick of hearing about student loans we have a poll question today do you think the federal government should be guaranteeing student loans 80% of you. Think that the government should not be so. That means that 80% of you or libertarian in your thought process like me. I I just don't think they should be in that business financial exchange showed dot com by the ways how you participated today's poll Horry can Texas at 63566. The other thing I am sick and hear about is why millennia these portable and heels are not homeowners. Where he secured about just that it's it's like housing markets in trouble because of millennium well Portland is that can't afford to buy a house with a you know. Will they pick I don't even know if they can't afford it or they don't want to bite my understanding is that a lot of them just don't want. Tucker at night. Could not disagree more the inventories oxen the prices a thriller for enough for me. And a lot of them Tucker is a lot a lot of your peers are still single like most people don't wanna buy a house until the mayor. And I know you guys early you're a little different track but. Mostly the pole we're to talk about that. We talk about the difference in homeownership rates. Between single individuals. And married couples when we return to the financial exchange. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. All easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. 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 most landlords used 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 required to -- and technology tell -- the -- he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stopped 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 as we get older estate planning becomes that much more important hi this is Todd let's ga partner with Cushing and all and and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control at Cushing and Dolan we've been helping families like cures for more than thirty years with their state planning needs we've got a new guide out this month called the top misconceptions about Medicaid irrevocable trusts this guide details more than thirty of the most common misconceptions. About these Medicaid irrevocable trusts and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. Hi this is Barry Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamlined the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to attendance -- called the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online and see deposit dot net member FDIC leader bank a step ahead. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one -- and 110 ounce silver and gold bullion coins are now available at all -- bank locations bank locally and -- your gold -- could just make sense of -- -- called them learn -- call 8776917900. Or -- leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value -- back a step ahead this is a special announcement for all landlords chasing -- only rent payments and making trips to the bank to deposit checks -- hassle out of round date -- easy -- -- banks all -- -- collection -- he -- automatically -- tenant's -- and deposited into your account visit WWW -- he -- dot -- to learn more -- see -- your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months -- free for -- landlords visit WWW -- he -- -- meant to learn more or call 7816418691. Time now for Wall Street watch a look at the market's performance so far today but I still Berrian joke right here on the financial exchange radio network. Got. Problems were blocked six easy well think can help easy makes it easy with the staff of fully licensed professional plumbers that will not only fix your issue. But also keep it from happening again call easy plumbing today at 781862. 1190. Or visit the monoline easy plumbing MA dot com easy does it Massa master license number 1018 the any thoughts as to why the market's rallying today I see the Dow off a 182 points. And you may be a little bit just done some thoughts that the trade issues might be getting some kind of resolution. I think me. Ali I Al tie I think this. Be beyond sick of talking about that I attempt sick of talking about everything I want talked with student loan center let's talk about molecules I don't wanna talk about trade what do you wanna talk way they send that I felt that to make it just seems like it's its meals casual stuff because we've grown a talk show and nor does go home. Now. You know going back to the topic of student loans today and influences the vast majority of people texting and I don't think anybody's texted in saying they are in favor. Student the government being involved in student loans. My question struck. Why in the heck is the government involved in student loans in the first leg it that. And I'm when did this all become a thing where the government had to. Guarantee that it. You know me you we all have 30000 or lines of credit to go to I'll. The thought was originally that it would be a boon to produce higher educated and better educated workers. And to go to her school. Yet as I mean a lot of the eat you know as well site do a lot of the student loan debt I think. Upwards of 50%. Is related to cut your scams schools if you will it's it's really the defaults that's that's the bigger all the coming out is scanned it it it's that you had all these schools no Corinthian Colleges all this stuff. Where did they pretty much in and it was outright fraud they made up statistics to sell people on the benefits of going there. And infected and have the job placement at they said they did that increase the wages they said they did in people went there that you got thousands of dollars in loans. And it's not accept times yet some kids. It had 20000 dollars in student loans to boot to. A medical office secretary school I don't view those programs the the for profit colleges a lot of them. I don't view them as being all that different from something like Medicare fraud is pretty much what they were doing is they're saying look the government's got a bunch of free money let's make up a scam where we can get a rate gets that's pretty much what they did they did very well in the they made a lot of what they did this gamble that in to teacher well. Yeah right that's what one all right well anyway AD you know. Maybe we should actually do something about it. Then like you and me well and mustered all I I guess I I look at it may I just think gates. It's one point four trillion dollars the second get paid back right it's taxpayer money it that's. That your money your federal taxes they take your paycheck then sign me want to try not to and and look at what comes out federal taxes and it's atrocious. So going back let's go back to formal Nielsen wider underprivileged and be treated unfairly and they don't own homes. I ate a lot of it has to do with the fact that. They're not married you guys the year you're rate getting married you that you five years late. Compared everybody yeah I mean 510 maybe a boy it was a median age like him a blow Taiwanese back in the day. A lot of autistic showed that the later on you get mayors the more likely war to not get divorced it's true actually divorce rate that's another story but the divorce rates weekend coming down. There were no Mary and you know we're not there and only but anyways I only. That the best you do Dartmouth are apparently am the only the best that I'm very dumb way to. That's that's great that's that your parents must be so proud to play your air your romance just roll it over it guys that I get ice and a half expected that occasion it just said Utley on the and it's a quarter million dollar word right there be better believe it. So I think one of the big things is I look at what's called the Al ratio home prices to house holding and if we go back to the seventies okay 1975. That ratio was 3.3 three so what that meant. Is the average person in 1975. Pulled up to see what was. Average household not not average person tips of the average household in that point yeah. Earlier here's your point here you're saying. Good to hear a lot more Mary household material in 1975 and there are tennis so the average household back in 1975 was making about 1718 grand a year okay. So the average home back then was cost about 6570000. Dollars which are equipped with you know what you think. Today that ratio is north of five to one OK so what that means the average council today makes about 5060000. But the average home. Is 300000. Isn't the average household there's a lot more households because Bellini spoke merry. Well there there are but we're talking about why they're not buying houses and I think it's directly related to price and here's why. Let's say that back in 1975. You said on the and it's saved 10% of mind coming year. And I want to see how long that takes me in order to buy a home just with trash and sing with out of mortgage is Keaton and what people bought homes with cash. In the 60s70s and use more than today Sophie said OK I'm gonna put away 6000 there I'm gonna put away you know 22 grand a year. Within ten years you've got a down payment of like 40% on property. If you save 10% of your income today your down payments only around 50% your property and that's. That's I think a big issue was it used to be if you could say 10% of your income for ten years you could make a 40% down payment to data portability affordability is one argument talking what's the biggest impediment to buying a house days of down payment and monthly payment. Ball. Affordability across important and coming up to the down payment down and it's a big because you're looking a lot of low down payment option right and I I think that is huge because saving 10% today doesn't go was ball or because interest rates are so low and see you can't build up as big of a down payment now. I think that's a huge impact there now at any rate. I'm sure will be talking about more Qaeda wanna talk briefly about mutual funds. You know the a lot of people invest in mutual funds many be do you might have them in your forward keep playing you might have them in your higher rate you might have been a brokerage account you'll. But are you fully aware of all of the fees and expenses. Associated with mutual fund I find it. A little bit disturbing chalked that not all the fees and expenses associated with mutual funds are disclosed to invest. Or through the prospectus yet there there are certain funds expenses that regulators are said look because we can't accurately calculate them. We're not gonna require you to disclose them and that doesn't mean that they're not give them they don't exist it just means that they're not disclosed in the expense ratios that you see. And so you don't necessarily have a clear picture of all the operating expenses of a given font right. Right it just a suggestion here if you owning mutual fund grab a pencil paper and he via phone number to call. It's 800. 393. 4001. Now what you'd call that number. And ask for the free guide it's given be given out by my company for the month of July. It's about the the guide is details hidden costs of mutual funds. It just make you smarter investor if you own a mutual fund you owe to yourself to read this guide. So he can call my office 803934001. Or if you want it right now futile or Paul first what your make a phone call. Any feud just one immediately you can download it by going to our website which is Armstrong advisory. Dot com it's a mutual fund guide. It talks to you about the hidden fees associated with investing in any mutual fund. The phone number 800. 3934001. Or download it right now at 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. Feel like we've been a little bit focused on negative news got some good news for a change homebuyers fuel a jump in mortgage applications as more listings. Finally emerge a wonder why there's more listings also and coming have you noticed that tiger to make in the mound. Of them don't. I don't know why no I look in my town and it's pretty much been consistent through. You know that the spring and into the early so maybe it's the region that we live in depth and I think it is now. It could be. But yeah you do have potentially a little bit more supply that's coming on line right now and so more people saying hey we finally found that home that we want. Got to get a mortgage and they start applying for a so some good news on these numbers here total volume still down about four and a half percent from a year ago so still below where we were a year ago in terms of the number of mortgages being originated now. But at least up 7% for the week and you've been watching any of the soccer. Though yes up you know as it's been a really good you know what happened yesterday England got beat by Croatia Croatia now bigotry guts or is growing more million people it's the smallest country ever make it into World Cup final while. And and who else is still alive France France so you're talking about the oil it's France crow you're talking about a blue blood of of soccer so France beat Belgium then I was surprised Belgium was my pec look at. So now it's France vs Croatia. DP on Sunday it's gonna be a phenomenal ensemble. I have to cheer for Croatia that Croatia are holding their Croatian team is. Awesome to watch they get these two midfielders both rich and rocket pitch that are just. Absolutely phenomenal and they like 680. You know another small guy like notre there's Croatia's isn't that they have like part of the country with a -- like giants giants except for well but no the motor it is like a tiny little accused little guy only long -- penalty jarring the critical issue that he do you think they're better than for an do you think they can beat them. I have a bit with my friends that they will be. So wagering money I am I have no. Who now the team corporate elite eight the reason I bring up soccer is nobody's watching and fox is get their heads handed it handed to. It was a a lot of money. Yeah and it's largely because the US team isn't in it this year and so a lot of casual fans who may watch just the committee today were in it was may get knocked out right away they suck. One of the US in May the round sixteen each of the last four World Cup's that they played that affected the united get into the tournament how many countries are what earn and keep in mind there. What a nightmare let me tell you 200 let's tell it to other teams that didn't make Canada the Netherlands Dutch Italy and Italy. Like they're out there really didn't make no leg they were really good teams so don't make it out how many. Teams are in 32. Anyway. Going back do let's let's get off the topic of power embarrassed by the US not making it. It was an embarrassing performance but don't get me wrong but even good countries usually don't make it. Fox bought the rights to this for a long country they're taking a bath on this this particular cycle here and the reason why is. Look at the US team is now at the casual fans don't watch so the odd numbers are down and eight seed. Simply doesn't end up paying for itself so it's going to lose box money this cycle round. And pretty much the numbers that we have as of July 7 Fox's. There World Cup TV ad revenue was about a 107 million dollars. To compare that to between fourteen tournament it was three it was 336 million dollars for Univision the Spanish. Channel. And a 187 million producing so they're up like 40% from Disney's numbers four years ago here but they're they're locked in right to it through 26 they are and keep my 26 the US is guaranteed to be in because were going to be one of host on both your host country you're guaranteed to Zardari does that mean if Sanders and to see here's the thing I don't his you know if it's Canada or Mexico or I don't know if all three you're guaranteed. I don't know how that works I've been trying to figure it out and I have no idea. But is it true the Canadian players play with skates on. Wouldn't hurt because it might be better for their game. Becoming opera talk about Comcast they have increased their offer to buy a sky. How much well we'll let you know when we return. He worked hard to make your money. This is the show they can teach you how to make your money can work through YouTube hits the financial exchange with Barry Armstrong and John saga on the financial exchange. Radio network as we get older. Estate planning becomes that much more important Titus is Todd let's ga partner with cursing and Dolan and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control at Cushing and Dolan we've been helping families like cures for more than thirty years what their state planning needs we've got a new guide out this month called the top misconceptions about Medicaid irrevocable trusts this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trust and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. Getting up before the sunrise definitely makes you a morning person you're identified problems and you get a head start on -- at them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment peace among others they can have a negative effect on your portfolio let my firm helped you make sense of these bees by requesting our free guide it's called the hidden cost of mutual funds call 803934001. To get your copy today that's 803934001. Or download it right now. At Armstrong advisory dot com. Securities are for two securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated ivory. But he it's very Armstrong and I'm joined by estate planning attorney Todd lot ski. From the law firm of Cushing in dole and for your legal exchange quick tip of the day we're talking about Medicaid. Irrevocable trusts Todd. And one of the concerns that I hear from listeners is that. People are afraid of giving up control to their trust the when they use these durable global trust. Is that in fact a valid concern. It is not a valid concern but that's not a good enough answer let me help you understand why it's not. First and foremost. Their concern is that way because they're not serving as trustee right and they can't if they want the protection. From the nursing however two things they need to remember. One. During their life. 95%. Of the things that need to be done with that trust. Will be done by them so they can still make the investment decisions talked to the financial advisors to make the investment decisions like their house yeah so. So all of this stuff can be done by them. There's only about 5% of the time that we need a lawyer. Earth that not a lawyer the trustee to do anything is a trustee opt in one of the children idiots it is and so that's another good point that it normally it's a child. And the last that that number two reason you don't have to worry is they retain the right to remove and replace the trustee anytime they want. So there really still what the boss that's nice folks if he'd like to learn more about the top misconceptions. Regarding Medicaid durable global trusts. Call Cushing in Dolan to hold free at 866. 8485699. If you looked at guide right now he simply go to their website which is. Legal exchange showed dot com legal exchange showed dot com or call the couple free. 866. 8485699. On top of breaking financial and by becoming a member of public carries brigades a month until financial exchange dot com and sign up today. And this segment of the financial exchanges brought to you by leader bang you're looking to diversify your portfolio precious metals are very Smart investment gold and silver bullion coins are now available at all leader bank locations call 877. 6917. B 900 or log on to leader bank dot com for more information. Comcast. Increasing their cash offer first guy. To 34 billion dollars beating out 21 century fox Rupert Murdoch cannot be happy about that. This is a this is a fun one to watch I'll tell you this because you red fox come out with their bid I think days solidified bitten and made official I think halfway through the day yesterday. Comcast came back what two hours later and said no Beers next two billion and a half. Would've probably what I'm curious as to the role Comcast is playing as to whether they really want these assets. Or they're just beating them up to crush them later. Which is that because there are also involved in the hole. Supposedly. It Comcast is competing with Disney for the purchase of 21 century fox yes so looking. At Comcast and I'm I'm just pulled up some data on them just so that I can look at some of the the stats of Comcast in terms of its market cap 255. Billion dollar company. The new bat 86 billion dollars in revenue year. And they've got bids out for beer when you look at between this the sky bid that they have out there. And the bid for Fox's assets. When you're talking about like ninety billion dollars that they're trying to bid on so. It's that they're gonna have to borrow boatload of money in order to do so right now they've got to think about sixty billion dollars in debt outstanding. Don't they have a shrinking customer base if people eagle and was skinny bundles and drop animal altogether late a lot of people say loud drop icons Casanova with frontier or some other Internet provider you just get out of the case you know court cutters. Well good that they're revenue still growing though in reality it's still growing consistently enough that it's it's not a huge problem. Via their their revenue grew 10% last year the industry was grown a little bit lesson that so that Lincoln and in in a problem state for merely be along those lines. I think that the big thing that I look at with them is just you know how much debt do you wanna take on in order to do this and is it can hamstring you further on down the road now. I just I don't know if they wanna take the sock is nor do this is a pretty much doubled their debt to equity ratio if they ended up with both of these ten they get them. Maybe now may I mean they're pay a lot of interest for they they could maybe do it but it's it's not pretty equally there they're their interest coverage ratio gets a little bit shaky at that point. So the I think it's a Hoff putt for them to acquire huge one of these companies is is going to be a challenge for them but. They seem pretty dead set on doing it and you know they they they want to own more content they like they got from NBC universal and they want more content. You we've talked about self driving vehicles and I think the consensus now is that self driving cars. Will really be on the road on mass until the year 2030 that's we've red day in and who knows he made maybe 2035 maybe is 20/20 five but I'd say it's probably closer. It adds I go long and believe you're placing a bet I would say. Yet there's in 2030 NT 2035. But. What's interesting chuck is. We've talked about how truck drivers and there's a us you know time horizon on their careers yet. Sounds like it might be a really long time horizon on the career truck driver because when the talk about making law changes. As a relates to drive the scars they're only talk about Carson talked about trust. Yen in really what he'd have to have is is laws on the books that allow for it lawsuits against the manufacturers of the self driving technology not just against the operator is there is no. And so into you have those laws on the books you know it's it's kind of tough to say okay we're gonna roll this out in mass. I can imagine it be too hard to get those on the books. You know it's well the do nothing that would cause them to go on the books as if they could demonstrate. Itself driving your computerized cars. Or in fact safer you don't it's a state like Colorado Google's already done it I mean I nobody you had beaten people before they vote on it. Don't think you're gonna wanna see it in the state like say Colorado liquids and they've got they've got to like California requires all the self driving testers to disclose every team every quarter every year I don't know which. Their statistics about how often the vehicle fails in its accident rate and so forth I think voters believe that they I I might I saw what it well why wouldn't that ice still encounter a lot of skepticism when I talk to people that didn't do too but that's a voter problem now. You know that's that that's a voter problem not a tech. Knowledge problem. Well we'll see coming up will be talking about Hoover. They are. Kind of shrinking their robot car operational talk about why they might be doing that on the day. We're son of a gun at the Dow Jones Industrial Average is up a 144 point draw make it a few bucks today we'll be back in just. Few minutes. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing 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. According to consumer reports nearly 15 of available mutual funds have raised their expenses over the past five years a mutual fund with higher expenses doesn't mean you'll get a higher return the Armstrong advisory group has written a free guide to help you understand these these so call 803934001. And get yours today call 803934001. Or downloaded right now and Armstrong advisory dot com securities arbitrage securities America incorporated an advisory services are registered as America advisors incorporated member can recipes he Barry Armstrong represented at Armstrong advisory group the securities America companies are unaffiliated. As we get older state planning becomes that much more important hi this is Todd let's ga partner with Cushing and Dolan and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control at Cushing and Dolan we've been helping families like cares for more than thirty years what their state planning needs we've got a new guide out this month called. The top misconceptions about Medicaid irrevocable trusts this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trusts and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. If you're landlord 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 reduce 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 required does he ran technology tell them the cold as he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stopped 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 7816418691781640. And specifically the costs of all morning different kinds of mutual funds Mike. Let's first talk about the differences between load in no load funds what to those terms actually mean. Yes when you talk about a load you're talking about compensating someone for the sale of that mutual fund. There are a lot of different options when it comes to these but. Typically the most common is just an upfront load that you and paint the advisors so if you put 101000 dollars into a mutual fund that. Mutual fund may charge you 45%. Expand gets paid to the eyes. In a no load fund you don't necessarily have that upfront fee but you still do not operating expenses each year just because the fund has to pay its employees and so force you do this area let's say just go to fidelity dot com and pick up one of their mutual funds. You might not be compensating. And advisor sales person for recommending that fond of but fidelity has their expenses that they are running in the air still charging new. It's all detailed map expense ratio that you every year what is a typical expense ratio on a mutual fund these days I would really hesitate to give a typical because they vary so much an NC funds as low as. Three basis points all the way up to wave over 1% so there is a huge range of mutual fund expenses. As Mike said there's a lot to know about mutual fund expenses and what you are actually paying it fortunately the Armstrong advisory group has put together a great new guide called hidden cost of mutual funds. All you have to do to get it is call 800. 3934001. Or go to Armstrong advisory dot com once again that number 80393. 4001. Armstrong advisory dot com. Securities offered to securities America incorporated members Jenrette SAP C 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 give leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader back. A step ahead getting up before the sun rise definitely makes you a morning person you identify problems and you get a head start on salted them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding that fees associated with mutual funds there are management fees twelve B one fees and reinvestment fees among others they can have a negative affect on your portfolio let my firm help you make sense of these fees by requesting our free guide it's called the hidden cost of mutual funds call 803934001. To get your copy today that's 803934001. Or download it right now at Armstrong advisory dot com. Securities are for two securities America incorporated member finreg SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Time for bank the pays you with Lieberman Zimmer award accounts can 1% cash back with debit purchases and an extra 10% back when you use your card featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917900. Or visit leader bank dot com minimum to open and -- annual percentage yield ten dollars mass residents only -- may reduce earnings rate subject to change without notice member FTSE. Leader bank a step ahead hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamlined the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered there information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to tennis -- call the Z deposit teen to get started at 7816418691. That's 7816418691. Or visit them online and see deposit dot net member FDIC leader bank a step ahead. This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world stage. Informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and sharks done us. And loan debt now exceeds one point four trillion dollars the ballclub which he used. Owed by millennial sort of talk about it frost gonna talk about whoever they are. Looks like they're really slimming down you'll bought a car operation and then finally. We're gonna help each other. And kick Tucker our cell phone addiction I know you've got the same. He spent hours and hours today on herself and I I've I have a my name's Barry and I have a problem with myself well. Monitor watching them and I accept that are out what you wouldn't even uses I did days it depressed me so I deleted. Seems not using it isn't true but let's start off with student loan. One point four trillion dollars I'm pretty sure the bulk of its own by your generation. A moment idea that is a big chunk of it is and there's a perception. Ban it. The rest of the still like colonials. Because your biggest generation. You're the largest now importing your generation mobile O'Neill's report between years of 1982000. There's a lot of it. Most of your owned by baby boomers meaning in your are you both your parents who yes yes and talk to your parents have so. You know and I've I don't five is that the right phrase alone I'm like you get five if you had five kids that don't have an update the you're gonna have a like that you have to pay other bills. You know that rate write your community the yeah yeah yeah congratulations date to for my favorite. You know this is a real Willie and I heard it here now I heard it's like a lot of babies and a lot of big east. It's the worst. But the but my big question on and I'm not gonna hear the end of this they all know you know you're you're not even in the top five favorite and please him. You and it was nowhere I was to get to 55. You could get their so easily and a player that. Do is knock up your wife been in vogue here urine and that's all you have to do that's yet to get Bayer's top. To get the club hit a thousand dollars if yet here wife's pregnant you know that right doesn't pay for the care. Still 2000 dollars tax free to gift still a net negative. Yeah one point four trillion dollars of student loan debt I don't think the government should be making these loans I've on the libertarian by nature. What is your profile do you think the federal government should be guaranteeing. Student rules. You know you lead we talked about in the first hour wanna bring it up and and by the way. You is a listener can participate in our poll by visiting our web sites financial exchange showed dot com to vote. Do you think the federal government should be Garrett if rightly do you think any government like I I don't want the state of Florida. With the state of Rhode Island to be guaranteeing student loans a year right I think it's something. They should be underwritten by a bank. Just like a car alone just like a mortgage. With the banks take the risk I've I'm sick of take in the risk associated with student loans because of that one point four trillion of which is actually you never get paid back. The good amount of dollars and a half a loaded two thirds analytical when there's that you're not talking 50% delinquency 25. Let me pull up what they are pretty high. Lot of people not only that delinquent just nodded making any payments the delinquency. Rate on student loans is 10%. So under 140 million it's it's a big chunk don't get me wrong. But what when I look at it I'd rather see more creative solutions the problem if your bank say look. Won't won't give you the money for you know for years to go to college and it would guarantee that you can give those forties and looking after graduate in four years is that's going to be to guarantee that we do. Aimed in return. We want 10% or 15% or whatever it is of your income for the next ten years. And that's what you're going to pay a source say what will take 10% 15% up to 60000 dollars and that's that's what we won while it banked in that bank if I own that bank and Sanwa Allman. With interest warm ups like again typical student loans like 30000 dollars of the getting sixty on the back and it's it's accumulated interest and yet time so they'll figure out what to do did they quit with this do they actually started underwriting loans will would do the college and university system in the country well and in here's the thing it would. I don't think it changes much in terms of how many people would want to go to college no just raise the borrowing cost. You don't think there's a lot of kids in school just kind of go on for for your party I mean you you gradual I think they are but whether the loan cost 6% or 10% they're still gonna go to school you'd think so Boca I mean we we've seen that it was Jack Jesse I think there's a lot of kids need you guys must know people that went to college in. Dropped out after year to loser party in too much should do it I should've gone in the first well no but. Those kid like that they can he be able to get alone is just gonna cost more if you're an eighteen year old kid they don't know what that means you know you you try to tell the average eighteen year old what 30000 dollars and that means. No they never had they've heard of were rather liked it for an extended period of time. It anyway that's the poll question do you think the federal government should be guaranteeing student loans financial exchange dot com or Texas your thoughts on that topic at 63566. If he had not texted the show before. Remember to put my first name at the beginning of your text message that would be Barry BA RRY. Hoover cuts more test drivers in its robot car operation. They have really missed this time. It it seems like they were kind of flying by the seat of their pants somewhat that the re there they're pushing the reset. It pretty much seems like they are doing a horror resent on this program and saying look we have a long way to go before it's gonna be feasible. The problem with that. Is big ticket profitability without us and how can they do an IPO next year. If they don't have a robotic car operation they've got to Mars there's plenty of unprofitable companies IPO I understand track but the the their valuation. Is higher than that of General Motors whose seemingly head of Hoover in terms of robot cars within the bigger problem I don't think is GM. And big problems who you know. You know Google's ordered 60000 minivans saying hey we want an operation in place bunny in the this year we're approaching out of business. Think that's the biggest threat if if if I in any kind of car company I'm looking at Google insane. Either eight how to like compete with them behind what become a supplier than they buy my cars and use them in their program in the go deeper pockets right Google. Aliens dollars. Did they get deeper pockets than GM coin I'll wait eagerly deeper than everybody GM has expertise in building cars in the in the network of dealerships to service the vehicles which I think is gonna be integral to success of these operations. My guess is the Google's gonna outsource that they'll say look you accusing you they're buying all these Chrysler Pacifica minivans I think was. That you say were crystal apple will pave deserves some of that they're there happy to do that they're saying look we're not mechanics and I think it's Smart that they're not trying to be mechanics his. And all. I think Google is the biggest threat to all these straight up there there's a leader in the called cops they started first and I think if we get there first. Apple recently announced new software to help people restrict the amount of time they spend on iphones. And Bryan Chan from the New York Times tried it and he tried it along side of the teenager. And found it to be very helpful one it's pretty simple how it works this is going to be in their upcoming Iowa is twelve that's going to be out Ian September. And he was working with a a beta version of it. And pretty much it's called screen time and what it does is it tells you the amount of time that you spent in specific apps are different categories of apps you can you know choose social media captured team user if something like that. And what you can do is set limits on the various types of apps that you have. And so what they found is that pay when when your at a time they lock you out of what they found is. Yet it's pretty much works actually I think we should do that Tucker you and I both suffer from similar to trial tried out. It's timely and give yourself a day and on arm. I mean I don't. I don't know what's like a normal amount of time so the average person in the country spends between three and five hours today on the phone. Three hours which is insane well that's too much I but that's including those trapped if you're in your car for an hour in your idea on using navigation. Or years listening to abuse of this is no this is. Like on your phones Eric Kahn. Debit your navigation at the screen on. Trust me they they've done studies and cannot not everyone uses navigation app and you know it's it's they're looking at people saying it's three to five hours a day now. That you're actually using and looking your phone because you know an average person picks of the 450 times that big people now truck are used I don't. They will ivory did you might perk I read the newspaper on my phone. Especially on the weekends taken them in the recommended the office a region on computer but. We're at home at night oh I'm always looking for stories for the show right right so seat in Kentucky you're doing the same today if you're. Reading a newspaper in your foreign exact count. Because otherwise you're just be reading a newspaper so it's the same thing right there and I can look it is. It's not though because the question is in terms of attention let's see get a notification all of a sudden you pop off and then you're doing something else now oh I'm on FaceBook because you know Jamie Mac gesture area and so it's is that the the big issue that we see with phoned one of them at least is that our attention spans are. Like insects to yes no I agree it's definitely greeted me in that path down so the nice thing about this screen time app is that it allows you to say look there are certain apps that I want to allow myself access and not necessarily measure. There are others that I want to not allow myself to use and and is something that. Personally I wanna be able to use more because. I've really reduce my phone time over the last year and a half hours ago on. Great I went from about two and a half hours dam down to about an hour Dana. Are you aware it's got to be done it in you fought the talkers future father congratulations again. Favorite employee plan they. Eat kids need a lot and kids this is going to be very helpful there is no matter what age kids get cell phones today it. C physics. That the kids today sixteen and under. Are going to have serious problems when they get older. Like as they continue to get older what bothers me the most exit says it's already happened T yeah his wife always in the tower heist yeah and and she said it's like these kids are Oscar and a gentle little doubt. What bothers me the most is you go into like a restaurant in families and there was like their five year old can all put a tablet and I know and I had to know on and and they're like oh well we just wanna be able to have a good dinner it's like no teach your kid how to be in normal human being is that of the field disregarding your parental obligations yeah it's not going to be fun for you but not everything's fallen to deal with it and raise your kids but he. Go into a restaurant. Just with your life and look around and you'll see other couples. Dead are always saw agree when the other day and deteriorating bear arms and their they're not talking to each other lick my wife in Iowa and we don't let that much below and outlast that we actually had a nice conversation who's gotten. We saw one a couple weeks ago we're at a place with moment parents were in town. And the table next to was probably couple and their BO late twenties early thirty something in that ballpark. I don't think they said one word to each other's the entire time Seattle it's like where there on their phones on their I'm like why the heck would you spend money to go. Out yet if you're not even going to enjoy the fact you're going out like you could sit on your phone. And have dinner at home man right you don't need to go out for that we'll. And they showed up to cook. Which is a whole lot of guilt colored leather cricket Qaeda and stuff. 90% of our audience Tucker thinks that. The federal government should not be involved in student loans guaranteed student loans ninety now I don't know Sarah had a poll that lopsided. They coming up we're gonna have trivia for you based on Alexander. Hamilton that's next on the. Financial exchange. Battery charge in the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network. Getting up before the sunrise definitely makes you a morning person you identify problems and you get a head start on salt in them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding that fees associated with mutual funds there are management fees twelve B one fees and reinvestment feast among others they can have a negative effect on your portfolio let my firm help you make sense of these bees by requesting our free guide it's called the hidden cost of mutual funds call 803934001. To get your copy today that's 803934001. Or download it right now at Armstrong advisory dot com. Security czar for the two securities America incorporated member finreg SAP C and advisory services are for their securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zebra 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 reduce 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 this he ran technology Tillman McCall does he ran team at 7816418691. That's 7816418691. Or visit Z Rand dot net stopped chasing down late payments and running the bank to make your deposits at your bank to adds he read to its list of offerings. Visit he Rand dot net or call 7816418691. For more information that 7816418691716418691. Or zero and dot net. As we get older state plane becomes that much more important hi this is Todd let's ga partner with cursing and all went and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control at Cushing and Dolan we've been helping families like cures for more than thirty years with their state planning needs we've got a new guide out this month called the top misconceptions about Medicaid irrevocable trusts this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trusts and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cold easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today. In your plumbing problems they're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781862119. No. It's our daily poll question had financial exchange showed does John. Vote your conscience and Aaron just vote go to financial extreme show does come in castaway the. Trivia is sponsored by Arnold's restaurant and clam bar I hope he who are successful in your venture to win today's trivia contest. 214. Years ago this week vice president Aaron birth. Fatally shot his long time political antagonist Alexander Hamilton in need tool held in week cock in New Jersey. We will be asking trivia questions about Alexander Hamilton. Now if you wanna play trivia what you do is you text the correct answer to this next question to us. At 63566. Many of you are new to the program my name there EPA RRY. At the beginning of your text message when you are playing trivia. BAA RRY. The text number is 63566. He should be all loaded up now here you go the question. What denomination of currency. Features eight portrait of Alexander. Hamilton. Again the text number 63566. And texture and number eight. Will win the fifty dollar gift certificate. Again 63566. A Japanese drugmaker has signed a 430 million dollar deal to buy privately held Waltham based that's Waltham Massachusetts based. This Tara. Yeah and this is the Japanese drugmaker Oates go pharmaceutical. They're buying this company for 400 in thirty million dollars. And this company that bought them employs about 46000 people worldwide. But there likely to keep this in the United States in Massachusetts because of the research that is going on there then more money into that yep hysteria there there largely working and some my therapies for kidney diseases and some other hard to treat disorders. But continues to show that there's a ton of money pouring into the United States and into New England. Four these Biotech seaweed the hub now reported in the new Jersey's gotten a lot of it too. Jersey just to New England really is California though no no no I am not for Biotech Biotech New England is kind of weird where all the action. News so. There's the Sears store in the Broward mall Westfield Broward ball. Closing. In their opening up of old what is the future of balls in her bowl eligible. That'll out of literally is yeah if it is an across the board are all you guys no amenable league rate. That will Wear off for the summer but we came in third out of 22 teams last lose your average score. Around the block. 55. Somewhere in that ball it's it's tells that I was I was the I think fifth or sixth highest scoring guy in the league there are a couple of guys averaging like 17180 which for just like it. Amateur not good bowl and Leo is really strong. One of the guys and her team was one of those and so I was second scorer on the team and but bowling alleys are becoming something that you're seeing popping up in more malls including this one. You know Westfield Broward mall and the reason why is they get people into those malls have been make other purchases. That's the days historically balls they didn't want bowling alleys they didn't want gyms they and one thing now Hussein look. Give us all the traffic you will tell us smelly they just want to touch how smelly people are better than no people. Tucker you ever been a neat two story grocery store yes yes we have where London Paul Hodes and in. In Natick. Converted a JC Penney in to a two story refresher star. And it's butch one. Did JC Penney in in other course restore wegmans a wegmans okay yeah I've been there yet but it I or not these huge but it's it's. Is that another. Things can be done or break our grocery stores you know maybe you won't have growth for stores. Right now they're desirable tenants because they get people again if you reduce traffic only on a regular basis it's always busy o's need food you know historically the the ones that you saw the associated with smallest yet movie theaters right. People go to the movies is much to know when you go to a movie theater now they have the BB seats used to be real small civil Klein and get the ones you Purcell but he does earn news the other leg and as I am preparing comfortable within fourteen bucks. Small pressed pay for those kinds comforts true true hey let's talk about. Boston. There are two residential towers called Harbour town Ers. And they are suing Don troop borrow. Because dawn is trying to put up 8600 foot tower on that ugly garage side I I can't wait to knock and that's it's really not particularly good and it's ugly but. Harbour town are suing they gonna have any success here I can't imagine they are it doesn't seem like it says the pro. Object is already approved and it's already gone through one you know the whole cycle the governor and the mayor won it. I can't see this holding up but he never noted that the theory net appeared argument they have been is that historically development right on the waterfront in Boston has been prohibited. Since. I believe. Trying to remember early 60s70s somewhere in the ball park. And so they're saying look if you break with precedent on this all of a sudden you're gonna lose all the openly and that element for a. Avid imagine how people thought felt when they yeah harbor towers. You know you don't scream bloody birdie about that those aren't exactly good look at me that I well lately and don's buildings actually going to be attractive yeah it's still gonna have parking yet. You know it's going to be really bad they'll use the period of time where there is no power. Races construction period rear park. Not there. I'm not there there. For him for what somewhere else two or three years and yet to be you be at least a few years does he get it did did the demo works gonna take alone and he got you know just the foundation work what a great place to live. Only on news that we'd be very desirable and all of them one of those looking right over the airport to get to watch planes take off and land I could I'd literally just sit there all day now all day that would be. And anyway Lou we'll see what happens of that pay coming up another company we're just talking about the CN today. Another company has cut its pension plan first of all tell you who that company is. But then we'll talk to you about what you might wanna do if your company the company worked two or four. Cuts their pension plan would you do that's next on the when he took it. The financial exchange is alive on FaceBook so make sure to like your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. As we get older state planning becomes that much more important Titus is Todd let's ga partner with cursing and Dolan and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control at Cushing and Dolan we've been helping families like cures for more than thirty years with their state planning needs we've got a new guide out this month called the top misconceptions about Medicaid irrevocable trusts this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trusts and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. Getting up before the sun rise definitely makes you a morning person you identify problems and you get a head start on salt let them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment peace among others they can have a negative effect on your portfolio let my firm help you make sense of these bees by requesting our free guide it's called the hidden cost of mutual funds call 803934001. To get your copy today that's 803934001. Or download it right now. At Armstrong advisory dot com. Securities offering to securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Are you having problems the blocked sink or drain. What leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've that all kinds of trouble trying to get people who can come in and do capable. Qualified work. I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber with fair competitive prices. All easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous. They will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. 862. 119. 781. 8621190. Or he can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. Hi this is chuck and Mike from the financial exchange and today we're talking about the hidden costs of mutual funds. And Michael Lotta times people look at the sales slowed they Payer they look at the expense ratio on a fund. But they don't realize there are other expenses built into a fund what kind of expenses do we see in addition to the ones people note well. The biggest one that usually gets left out is something around the trading costs of mutual funds. And a few years ago the SEC pretty much came out and told the mutual fund companies that because these costs are so complicated. To calculate. They are not action required to disclose them in the operating expenses so if you look at a fund that trades a lot. And by that I mean turning over the portfolio may be hundred or 200% a year. Those costs can be significant. Are there any types of funds that typically have lower turnover rates that don't trade is much of that you can get a better deal absolutely I mean when you look at basics of trading how much 100 vs another. Usually an index fund trades a lot less than an actively managed mutual funds are for instance you can buy an index fund. That just replicate the S&P 500 that's gonna have a lot less turnover than an actively manage large cap mutual fund in case it's. Folks beyond just the headline numbers there are other expenses associated with owning mutual funds. And they are strong advisory group has put together a guy on these expenses. Titled hidden cost of mutual funds all you have to do to get it is call 800. 393. 4001. Or you can go to Armstrong advisory dot com once again the title is hitting costs of mutual funds in you can get it by calling 800. 393. 4001. They're going to 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 American companies are unaffiliated. They say video adds ten pounds. But don't tell Berrian charge. The financial exchanges alive every day on FaceBook and YouTube and this is the financial exchange radio network. Alexander Hamilton's portrait appears on the ten dollar bill. The winner on this question is Erin from duct Marie Erin is taking home a fifty dollar gift certificate Arnold's lobster and clam bar located. On US route six in east ham Massachusetts. There leads Jeff Susie when the Cape Cod stuff planned contest for the third year Derosa dip down Arnold's. Chicken all the great food for yourself call 50 wait 2552575. Or visit the monoline Arnold restaurant dot com for more information. He has ever walker and your town and smelled gas leak don't. No I was walking through a look but yeah I was walking back right I took my granddaughter is an afternoon sniffing for. Us I took my granddaughters to the park yesterday as they do on every Wednesday. And on our way holders to sign. That says hate National Grid fix this week and sure enough when you walked by that side Sonoma to get bow that right now. If I bring that up any news on the strike the national its rate I'd seen anything that happened today rate we talked about yesterday you know what their strike you know you need a lockout. It as straight excuses not streak that's why they're being locked out because they want to keep their pension plan. Another company Avery Dennison saying now we're we're getting rid of our pension. When do you think they'll last company finally gets rid of these. It private companies and keep them because they're great for taxes in the senior people yup you know like if your if your private companies that you know hundred employees in. You make a big box it's a great way to litany taxes yes but if you're a public company like Avery Dennison. What happens folks and in this is what's going on National Grid I wish somebody would talk to the union members. The it would what's happening in National Grid is the stockholders. Have gone to the CEO and said. Yet get rid of these pension plans we we want them all gone and that's what happened at Avery Dennison the investors said. Yet get rid of the pension plan to reenter short your stock really do bad things to your company and your stock is like your current EU can't afford to have. Big investors maybe Carl Icahn or anybody else does decide to take you out so. Avery Dennison the latest company they've got a lot of plays at fourteen pounds. 111200. To release participants in the plan. The plans underfunded by about 240 million but they said look effective September 28. We are terminating our pension plan is eight years after they initially frozen. Some pension plan effectively. Go away at this point you know that is the news and it happens in then use retiree kept secure orderly do with my money. Yeah really is it puts the burden it's it's what companies get rid of them as they say look we don't wanna have this burden problem. Lot of times with the dues and transferred to an insurance company. And that'll be one of the options because to be careful because they can transferred to a new insurance company goes bust some I. Most of the people that I talk to chuck and that just saying OK let's give me the money in all investments to be able somehow figured out now. Folks we're all trying to think outside the box when it comes to giving gifts for special occasions so this year I'd encourage you to call leader bank a bank. Why would I call bank for gift well. First if you're Smart person in second. If you've heard me talk about Peter banks incredible assortment of precious metals you can visit all your bank locations from Arlington the seaport in Boston and they've got one ounce in 110 ounce silver and gold bullion points. At all their locations in other precious metals are available upon request these types of purchases can be as Smart meaningful investment. In addition to being a great gift for someone you love. Cult leader bank today. At 8776917900. And learn more about its precious metal collection that's 877. 6917900. Or visit them online leader bank dot com for more information. Not a deposit not FDIC insured not insured by any federal government agency not guaranteed by the bank in May go down in value leader bank a step ahead. I'll get a little nervous about oil I know we saw a decline in the price yesterday it went from 7237 it down to is down to seventy bucks a barrel and IE exposing should be nervous 'cause down another 22 cents today at seven dollars and sixteen cents but here's what has in aaron's. Our reserves are declining rapidly in that much more rapidly. Then we thought not talking about oil that's you know that's been pumped and he's ready to be delivered. The amount that we have in reserve is declines in a dangerously low but it's declining faster than anticipated. In addition to that. I am not sure how much ability the globe house to increase production. And demand is increasing much faster 50% faster than has ever has the last twenty years and restore bike to work. I take the air it at some point right these prices impact behavior. They doing it typically in the US that price has been around 3154 dollars a gallon. Obviously we still cheaper gas than just about anywhere else in the world. But. It it is a case where you look at this and it's it's tough to get that much supply on line that quickly right now and really the area that you're seeing the most supply coming on line. On a consistent basis is the United States which is good which is gonna be the there that challenges. What it does to price you know leave the we're still nowhere new year mean people say oh we're energy independent now we're hot we're we're. We are not even close we've still. What do you would you say twelve goes totally embarrassed today in terms of what we don't know what we produce ourselves well we don't we do about eleven right now I'm sweeteners were about to that so about nine of that we use domestically. But we we use. Nineteen in Paris. We do BS a we import about half of the oil that we need is pretty much what it is the ball that comes from countries nearby Canada Mexico places like that. We friendly country we do still import I think about 25% of our oil from OPEC and other countries. But it's it's something where we're never gonna be fully energy independent. See when the when then when the scales are this close books. Would it means is that you can have a spike. And it wouldn't take that much of a disruption to have a big spike do you take out major producers somebody's producing 34 million barrels a day right. Global and mean you've got a big problem what you see that much come off long played it would take it it would take a war news it would take. It would take it either a war. War or severe active defiance by. A major country like Iran lead you notice that the second Iran started talking record closing the Strait of Hormuz the US said well they will find a way to get some waivers on the sanctions. You know made it that that tell you if you paint Iran into war. The the older you like adults think couple barges and their shut down your votes come in through their adult Sydney got a 30% disruption in the global supply and it hurts them. Oh yeah avoid that if if it hurts them but all of a sudden cornered dog you you don't just have gas lines and it's a huge don't have gas if. It's not like it's it it's like a dog or wolf that's been cornered they're gonna bite. Because they had nothing to lose him if either gonna shoot over the gonna bite you right days and and that the the talent we're in right now that's that's what makes me nervous right. A Republican and oil and everybody's there is good. Anyway I I've been around long enough I remember weeding and gas lines I used to. Put my bicycle in the back of my dad's car I drive to the gas station park it in the line right. And then Friday at home and then the next day I would ride my bicycle back. And it at 6 AM to get in the line you've been in good shape back then it was a very. Good this accomplice right. Hey the lawsuits the 5000. Lawsuits. Are proceeding. Against Monsanto's roundup we learned it is is roundup I use that stuff. I mean it's a really bad. It's something whose only purpose. Is to kill. It can't be good and nobody works really well and like his other again it's purposes to kill a living thing this other stuff doesn't work. I don't pull it use your hands. Yeah I I do about twenty minutes we bedecked. He needed. It's more like CIA how much what my smallest problem was policy have a tweeting your doing when you're fifty years old nets acknowledged while eventually have its when I don't wanna make it. Exit by granddaughter accurately obviously that probably very close to the ground what they do they eat them too. That has been a problem now that has got to be careful with those on them than not friendly to humans but. Monsanto according to weigh a federal judge this is a judge. Venus copper here in San Francisco. Agreed that the Zell lawsuits could move forward. And so we're going to do was start seeing kind of how this ends up playing out. In court. Obviously Monsanto has been wanting to block this legal action for being they've been fighting this for four years now these cases moving to true button and really. You have some differing views the World Health Organization says that. But bossy go by like the state which is the main ingredient in our roundup the is quote probably carcinogenic to humans the EPA came out last year and said that it's not likely carcinogenic to humans today. So nor has any idea who's going to court and my guess is that you are going to find some very sympathetic juries. It will be jury trauma judge. It if I'm guessing these civil claims right now. Communities in certain states and of the judges have the ability to vacate some of them but typically mean like Beazer jury trials and. It is going to be extinct hey coming up for will be joined by Jim Tankersley from the New York Times talking about why now. Is a good time to get a divorce is that makes cents. He uses ever did time begin divorce I. I don't know we'll fly you know like I wouldn't know we're talking economically and financially why you want to get divorced by the end of 2019 that's next on the financial exchange. Barry and chuck. Felix. And if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control at Cushing and Dolan we've been helping families like cures for more than thirty years with their state planning needs we've got a new guide out this month called the top misconceptions about Medicaid irrevocable trusts this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trust and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. Hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamlined the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and even send out annual interest payments directly to the -- -- called the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online and see deposit dot net member FDIC leader bank step ahead. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've that all kinds of trouble trying to get people who can come in and do capable qualified work I talked easy coming in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. All easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information. Mass master license number one no. 183 again the number is 781. 862119. No. Time for bank -- you -- liter maximum -- accounts -- 1% cash back -- debit purchases and an extra 10% back when -- user -- -- businesses to qualify these and other awards -- -- direct deposit 1000 dollars and make a debit transactions each month to learn -- call 8776917. To 900 or -- -- bank dot com -- to open -- -- annual percentage -- ten -- mass residents only he's been reduced -- -- subject to change without -- member FDIC -- -- a step ahead whether you're celebrating a milestone -- diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at -- -- bank locations bank locally and -- your -- -- it just makes sense -- -- -- called and learn -- call 8776917900. Or -- leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value -- -- a step ahead. Security suffered two securities America team members finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new text club by texting the word battery to 635660. Send your first and last name and get involved today you're listening to the financial exchange radio network. This segment of the financial exchanges brought to you. Part by easy calming your one stop shop for all your plumbing and heating needs. They specialize in repairing your faulty equipment not replacing it so called easy plumbing today at 781. 8621190. That's 781. 8621190. Or visit the monoline easy plumbing and made dot com. Easy combing we can fix it mass master license number 10183. Getting divorced is expensive. No matter how you slice it they're getting divorced in. 2018. Might be a better option for you than getting divorced in the year 2019 we're joined by Jim Tankersley. From the New York Times to help explain that equation I Jim welcome to the show. We're glad to so. I'll bite why is it better to get divorced from a financial perspective in 2018 is opposed to Tony nineteen. Well it's that the answer is the new tax law that wrote president trump signed into law in December and is specifically how it changes the treatment of Alamo. So off until the end of this year if you enter into a divorce agreement you can for basically the refrigeration of that agreement. Deduct alimony from your taxes but if you enter into an agreement after the end of the year you no longer can deduct it and that catching a lot of speculation. Yahoo! with regularly so can you give us some examples as to how this would impact. It it seems like it's for primarily be targeting wealthier families but just in general with state financial impact to. Well there's the great question there's sort of two different pockets of people that impacts one assist people who have to change some payment to make sure it. That essentially the same amount of money. Changes here and there would if one spouse was going to give a certain amount of out before tax dollars to another spell out and they may beat this cement among. Then there you can just change to pay the taxes okay you did receiving spouses get paid the taxes so. Paying spells. Gives. We have gives more money before but in the under the new law it's going to be you'll you mean if you less money I gotta pay the taxes before right. Before it to which you window that's pretty straight ports really just an accounting shift yes it does. Did the trick is booze in it is couples where they haven't differential. Tax bracket so. Will it husband. Earns a lot more than wiped. And pays her alimony after a divorce it before based could government was subsidizing it. That couple's divorce by allowing them to deduct the alimony it'll lower tax rate of of this ex wife but now old. They all the accident at the higher rate and so the question will be a cool beer at the law that what was essentially free money from the government. And that the orchestra. What happens if you go in and you want to amend an old divorce decree because. Yet divorced five years ago but your financial circumstances changed significantly. Since he got divorced and you happen to do that after January 1 of 2019. Then you're gonna have to deal with the fact that your company is store deductible. So this becomes. A bit of a free use on existing agreements the last the parties are welcome to work out. That changing alimony treatment because. Wanted an agreement as amended it loses that Korean fathering that it would. Child support is not tax deductible is it. It's not and this doesn't. Doesn't really affected. It at all although there is that this sort of mixed support it and that some states have. Where you can pays him an up front on. Specified support that they covered book about in children. And this changes to disability of Batman as well along with alimony and so. Again that that's that would be away shorter actually. What are you hearing from divorce attorney says there are rushed to get these things dealt with by the end of the year or is it. Business as usual. Well. There are expecting a huge crowd there are starting the year a bit of Russia there that the huge crush in the fall. And I'm hardly anybody says younger people canyon thing I was curious about getting endorsement now I definitely wanna get one for tax reasons bomb. It's more like people were considering you know bomb there already into the process of getting a divorce. And now they're considering though we need to get that done by the end the year who want to tax treatment so it would players are talking about you know were widowed or aren't about this. Financial planners are tucked into their clients about debt and they're both. You know. Urging them to get things done before the deadline. If if this would make a difference for them and they're also thinking about creative ways to get around it in the even they don't get at them believe that. Jim thank you for your time I had read about this anywhere else so you would you scooped me thank you. My pleasure they grabbed me. Jim Tankersley New York Times. And it's. And how Cuba. With the try to work out. You know my well my you know my motto right it's cheaper to keeper does it pay a very first session of that now vice hike its third era prairie if it's great worry about to start work it was just have a podcasts which is bears saying. Figure it out get over it. Try to work out I just repeat that for an hour I can I can do that night and I would even charge. You don't. Banks are offering higher interest rates for savings accounts you still need these are you know it occurs to me we wouldn't we say the inflation rate was torn in 29. In that ballpark yeah. So. If inflation's running 29. And you put money in the bank it with two degree when he went six yeah mid mid to high ones these days you still losing money Erika yes okay. You know lose and I guess I you know I I had this blanket. If I got this wrong it could could I be losing money by putting it in a bank in it and thank goodness you are you you still live in the that the spending power of your dollar. Is less than a year. Even though interest rates have gone up it doesn't. Look like you're losing money because you do earned that interest but in what we call real terms you do lose money because the rate that you get on that bank account even if you get one point 51 point 61 point 7% and it is lower than the rate of inflation. And you can really do anything about that now what is the tax rate on money market account. These are tax free it's going to be a personal interest rates so anywhere personal income personal income ransoms are anywhere from ten to you know the top rated what's top 35% in the state Nicki on that too. The state it depends on the state in different states treat that interest income differently depending on where you live. So it's gonna be different so even though the rates are up there's still no bargain to be had right is not like the old day pre walk into the bank ticket 5% CD and nobody if I mean if you're saving up for home perched in the next year to be not to put that money in the market. Or get a tuition bill to pay next month is growing market college tuition bills due in August that they got to pay the bill before he dropped the kid off. Best investment ever. And predicted Aaliyah Toni grant no problem here you go. Double grocery bill went down by 50% David Dow is up a 196. Points the recipes at seventy everything. Have a great day on Wall Street will be back tomorrow with a another edition of the financial exchange.