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2-24-14 Full Show

Feb 24, 2014|

2-24-14 Full Show by financialexchange

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This is Barry Armstrong and I'm joined today by estate planning attorney Todd -- -- from law firm of Cushing and Dolan. With your legal exchange quick tip of the day we're talking about last minute planning techniques. They can be used to help save assets of your loved one. Todd let's talk a little bit about providing home care for their loved ones often times this is being provided by a child and niece and nephew. Is there anything that the home care provider in the health care provider can do that would be beneficial for them or the family. Yes and it's actually happening more and more these days and and deal lots of times believe or not the the person getting the care does want to pay for their loved -- to do it for free. In lots of times a person who's doing the care giving has left their job -- so so folks you can get paid but you must have a personal care contract in place. If you don't have a personal care contract in place and money moves from the care recipient to the care provider. It will look like -- gift for Medicaid eligibility purposes that -- results any five year waiting period. To get eligible so you don't want to trigger that five year period the upside is the money can't be transferred to the care provider has pain yeah. Downside is it's incurable. And so what's taxable but you get paid right. The real and UK and is a Social Security like it's a retirement and that's right. And the real upside is there is no five year waiting period so if you feel like somebody might not make it five years and year. You know providing care for them even if it's for a year you know they're gonna do it you could transfer a good chunk of assets and how to protect -- from the cost of long term care and your loved one would probably prefer to have their daughter. -- for them as opposed to some nurse that they don't know I'd call. 8668485699. Learn how you can protect your assets last minute 8668485699. This guy has never been made available before. 8668485699. Have been replaced by a 41 K plan with a match you're responsible for planning your own retirement. This involves planning for income military benefits long term care and Social Security. We've created a guy that will provide you with the ten step checklist for retirement this 27 page guide is available for those of you. Who would like help. Planning for a prosperous and worry free retirement 8668106422. Ask to have your retirement plan created now's the time to get started 8668106422. Securities offered through securities America -- member FINRASIPC. In advisory services offered through securities America advisors and Gary Armstrong representative Armstrong advisory group in the securities America companies Aaron affiliated. Michael Graham -- another name. From the actual truth no. Where's everybody going. That's the question Massachusetts leaders are asking after a new Forbes report showing that Massachusetts is on the top ten list of where -- your State's 56% more people moved out of the bay state and moved the question is why. What you think and look out -- -- -- it's freaking freezing and you're right but it's also freezing in New Hampshire Minnesota -- North Dakota. Those states are on the top ten loser list in -- north -- having a population boom. Is it crazy liberal policies like I taxes yes New York Connecticut and Illinois the Massachusetts of the midwest -- on the list. But the West Coast as high taxes they're not. I think it comes down to Joseph Biden's -- three letter word jobs messages is losing jobs in guys working the trade we'll tell you the situation is getting worse. Well the last blue collar worker leaving Massachusetts pleased about the likes. For more than that the truth read my columns in the Boston Herald or -- Michael Graham. The experts at Web.Com -- to build your business a successful website for free just like they did for these Web.Com customers -- used in and looked at other website designers. But there's nobody better that went out. Web.Com can have your website built for free and often running in his little seven days plus promote your site on all the major search engines like Google Yahoo! and -- if you're in business today. And you don't have a web presence -- you won't be taken seriously call now to get your website built for free if after thirty days you're happy with your new web site. We'll continue to provide promotion posting support and maintenance all for just one low monthly fee if not cancel and pay nothing. Call 855254. Site. 855254. Best ITT. 8552547483. Or go to Web.Com. Slash Brady out. There was no portrait of him that's an equity what you flight rights to the tech relinquished much installation unless otherwise purchase. -- Okay. -- its hold on your checkbooks and did your portfolios break. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- New England alone into the financial exchanges stockpile. Yes and he's. One big -- -- is a big day it is a big day we're gonna keep an eye on that to see where it lands but. You've -- stock market I mean. It will have closed out well we'll see I shouldn't say has yet as I was -- say it's gonna close February and a little bit down on that but maybe not maybe some day he's. And yet to go here. Get five days of trading the Dow is up a 116 point CS and a lot of news out there you know shareholder activists news -- Carl Icahn shaken things up or thirty day yes and then you've got a story. Joseph A bank I missed this one just a banks and men's warehouse with the update on that I see just a bank stock. Something I I'm I'm Atlanta with a story because it is like a soap opera you know -- this'll my children on tape just now -- -- this stuff. So -- this morning -- -- warehouse upped their did. Participate bank which this has been -- back and forth deal lifting going on for almost six months it's. So they went for 5750. A share to 62 -- -- the issue now. Decrypt all of this is remember that just made banked earlier this month said they were in a deal with Eddie Bauer. So Men's Wearhouse said this morning if they get rid of that deal. They'll make this even sweeter. So all the long anticipated bank has been saying if there was something that it came along they would get out of the deal. In the end points. Howard menswear stores and he has been -- -- -- warehouse -- -- -- I am not a -- -- shopping Joseph -- bank like. Even and then there's 109. Inning -- like just an event better at about the same about the same toughest are always quiet right now and people in the -- -- ages men's warehouse do three for once yeah that the I want to -- twelve -- you know I want the -- -- audience groups -- poignant -- -- At each other original. Tell me that -- good shots I shot that you yet. I I used to shop at sins and then nice when they sat closed circuit switched over just like just. Well we just say bank right to elect a little satellites or -- -- Qaeda which is really great I don't governments warehouse I have been in one you know I don't know. Win but I -- I'd like to dissipate and Andy -- likes -- that some indictment I think he likes itself. Was their stock prices up eaten half percent this morning core rate -- shares just a bank the symbol JO XB. Their shares are rolling on this morning and then over at eBay. Carl -- he's a big shareholder there. And he basically wants to split the company up into two maybe three different components you've got the auction company yes they also owned PayPal. -- tests really pops profitable Perry and so Carl Icahn shaken things up authority bail I haven't looked at their stock price let's take a quick look. And each day and see what their doing this morning they also lower this morning shares of eBay up 3%. At 56 dollars and twenty cents. He's wrecked it the aide Karl thinks that the stock's worth a lot more than 56 dollars and explode. Maybe protect company -- two he thinks is some news -- -- -- well. The busy guy and I realized -- later but it's were talking about it right now in the area odd story yes. You know that. You folks have been about area -- Cambridge at town pharmaceutical company. Well he's putting somebody on that -- there so. Protege. Alexander -- Is going on board there's rookies I mean you know he can't find a company. That does not items. He's a busy guy but he's putting him on the board to be interesting to see that'll -- The vast majority of earning season is behind us -- -- test to run through we do you have for economic data this week. Tuesday -- case Shiller. Data that's -- more. Wednesday we get new home sales data -- they -- -- jobless claims and durable goods and then Friday will get pending homes sales state so that's kind of the the economic agenda for the week not heavy this is Africa via a quieter week but the stock market. Rallying. On a lot of this isn't and I noticed. You know on Friday Kim I tried to called David after that hockey team and -- News I can be needed pick of the spot. But it is a problem David the year follow you your battery run out of my dad I dropped it by accident -- it's a still got a new one actually. So don't try to called me up. -- I was that was a tough pill to swallow for. -- couldn't get -- couldn't get puck in the net I don't know what was worse. Friday's loss or the fact that decided you know what abroad and others is -- even -- -- -- time worth our time lord -- That's really hard to play you know -- the bronze medal game. That that's a tough team to I don't know there -- -- -- aid to mean that is streamed spoiled. Professional athletes who really just when we get home. You know the second half of the season play. -- -- about an injury yeah up. Yeah I mean just think about this had that been -- We go back that was college kids they fought to the death yet to get that. Please usage data used to increase security at the NHL players won't be playing politics on the that he had sued and you see the comments from the islanders GM -- swell guy he's evil -- that's one guy that won't sell a ticket for another one. Year. That part is yours acts that could happen on home my guests here. Did they charge goes down we still a cheeseburger. -- that unified -- of -- in the near pounders goes down like he did -- -- -- -- awkward stance is not at all the nexus. I see you roads east you don't maybe they'll pay played -- they bank that situation -- one at eleven tickets for I don't think that played in I don't think it's really -- -- based on just happened there but this whispering prior to. -- -- -- -- -- Tolerance and you know that much that's gain obviously want to play yet it was his home country right by too many Americans are came -- crazy uncle though. -- That's good for the sport I think it is too if I was the Olympic Committee I would be taking note how many readers or failed from this point 404 season. I would be talking about this what we did for. Doubles. It let's set the agenda for the rest of today's program and a few minutes -- be joined by mark you can't we're gonna talk about legalizing marijuana in the financial ramifications of doing so. Then Melanie kicked in from CNN money's coming by here's what's going on it's really curious to watch. You've got Chicago. Municipal employees protesting. Over the pension. And we have the numbers on the -- Detroit here right serve your minions municipal employee in Detroit. We now know how much of a pension reduction you're going to suffer we also know much of a haircut the bondholders yes so we got all that data. -- would -- from Morningstar will stop by but this story about marijuana. Is really curious in that. They're making a lot more money than they thought they were in and -- out cholera. You know. I mean I think all of us were not even have to think that this wouldn't be an industry didn't take off once it became legal. But I think it's pretty shocking how he's taking off and I know -- got to be governors. And legislators across the country going wow yeah. -- the especially if you're forced to eat anything about Rhode Island local right right. Rhode Island is the most impoverished state out of all six of the New England states. And I wouldn't be surprised if the first to legalize their panties right at you you marijuana purchases yes. You look around and you think about and -- time will tell here Colorado they're gonna spend a portion of it you know teaching people not to use marijuana but having said that. He went to UC with their school systems and you know they're injured will be worried you know there's going to be a lot of money flowing in next. Well here's our question of the day Colorado is earning more than ten million dollars per month in tax revenue from legalized marijuana sales. Are you in favor of legalizing and taxing marijuana in New York State where do you live would let us know 68680s. Or text number. Many Europe in New Hampshire mean Vermont Rhode Island Connecticut. Let us know where he resides. Do you want you or state to legalize marijuana. Let's let's talk to mark his I want to make sure have my math correct as relates to the tax -- it's coming now marked a -- he's a reporter for Bloomberg and he wrote about it over the weekend mark -- morning. So how much tax revenue is Colorado racing looked to me from your article about ten million month. Yeah they just came out with revised estimates better look at hired on with the initially projected and -- -- to be about. A hundred million dollars a year is what they're talking about and that -- here. That's just or an initial. Projection could change you know depending on what the reality looks like that as it stands now they're looking at a hundred million a year. So in this exceeds their initial. Expectation for how much marijuana they itself does that lead you stated. One term that the text revenue that they regenerate -- Because it's tax three times straight isn't it it's taxed when they grow it it's tax from the ship but it's taxed again when they -- Writer so he's involved as well that figure Padilla patrol. And what's the state -- the money. Most excusing it I understand four. To enforcement mechanisms as well as you know -- other needs at the city has. I'm not familiar with entire breakdown -- and the money that they sent up a program where. It was understood at a time how the money spent. What are the things that I was curious about is it's it sounds like you have to be a resident of Colorado in order to buy this. I think that's correct and actually my role here was more to stats governors. Them at -- the National Governors Association. What are they would say this is something they thought was a good idea and also talk with governor Hickenlooper. Colorado about whether he -- Other state will be -- this in his message as well governors have been approaching them optically here at this conference and asking them. I ask you know it is -- potentially good revenue sources -- message that it's not. His message was it's not. But it viewed is that this is not to set things straight. Should count on terms. Vehicles to raise revenue extra. Sales of marijuana -- current arguably the issue of legalizing marijuana. I didn't view is he doesn't think the opening. Government should be depending on the way -- to generate extra income or lower cost if for example there reduces prison population. And you -- some money there. Would -- have you talked to any of the governors from New England states. I guess -- governor Malloy in Connecticut and it was what Connecticut as decriminalize small amount of marijuana. And also. Has some medical marijuana sales. You don't think there's a lot of Porsche. Legalized recreational use of marijuana and and talked all the the media. England governors but -- was -- a consistent payment we we got from the other governors to talk to while others might be destruction while medical marijuana. The doesn't it would be a big groundswell of support for recreational -- position. What is Lincoln Chafee say down a Rhode Island did you talk to him. Actually that we could talk to become virtually you know and yet she was a little more intrigued by at least -- these numbers coming out of Colorado -- terms of revenue. Are you can't be dismissed our interest and I guess this is something that's being debated in. Rhode Island Legislature. And he -- he -- dismissed the idea and commit to it but better but it's something that -- that would appear. What other states do you think will be next in line visits to states right now right Washington State and Colorado. -- Colorado -- -- going on now I'll voters in Washington also approved legalizing recreational marijuana. And -- -- a spot start later this year. There's potentially the ballot issue is going to be up this year in states like Oregon for example. Secret he would them moving in in other states. It's a little unclear what the book and -- gonna look like there's there's other potential ballot issues. I think what's happening notes the more likely be approved. To voters. OK okay at the back out and post it legislatures getting back and its -- and we -- we -- And that it. I've made that that's interesting to see that -- did voters and actually get do it rather than our than the guys that are in office an office. So leave your talking referendums effectively. Exactly that's how it unfolded in Colorado. And Washington. I think Colorado the governor there Hickenlooper and most of it -- the state elected officials oppose the measure it and honestly. Marijuana legalized. But there are percent of voters said they wanted to so into the. While all right. V -- avenue Akron -- and I am very surprised though that. That they governor out there are saying it's not a great revenue source where it will seek it still feels that way you know another year or so down the line right. -- -- well thanks very much are we appreciate your time. Marked -- -- -- you know if you look at what they're spending the money. Right quality it's it's all spent on drug rehab programs I think the the perspective. On a lot of these governors would be okay yet you you're gonna raise like Massachusetts is bigger. -- Colorado and we have a big to big college -- he could estimate. That Massachusetts tax revenue from that would be in the ten to twelve million dollar per month -- Right and think about all the social problems that are going to be created as a result of their wanna use rightly AD. Eve got that side and then the flip side of it though is you'll have a lot less people imprisoned and yes he does say you're you're you're raising tax for a right. And then decreasing your your costs your decreasing your prison population by how much I don't know right. Time will tell now. You know I mean I think there's a lot of states that will stand back and watch first I think there will be states that dive. Head first -- like the Rhode -- world because. Because the revenues going to be there and that's just gonna be -- attempting regardless they'll take their chances. But I think over time you know I'm. I hate to say this but like alcohol I think over time. States will do less and lasts two to. You know. Education bill to -- -- of the insurance programs. And they will find at that surplus of money. Is going to be used in other ways I think right now that's the morally correct thing to do we have a state that is. Has legalized this for the first time so they're spending a lot of money putting it back in two programs. You know educating people about marijuana use -- I think in the end just like alcohol that will go way. Well a lot of people have this the -- -- the issue of alcohol can make a lot of people feel that way about it they say well what's the difference between marijuana and alcohol right. -- tax and regulate beer you tax -- regulate -- right why wouldn't you. Cracks and regulate marijuana. It's it's being sold now who's get who's benefiting. From the marijuana sales that are occurring right now let's drug deals. That's right. Rights yeah I mean I. Again I I have really mixed emotions about whether I want -- -- legalized across the country are do you mean I'm a mother and I I don't want that for for that reason. But I think it's I think it's a cat out of the bag and I think it's going to be happening more and more. And I think and it's at Colorado makes more and more money off of it each is going to be at dangling -- -- -- states won't be able. It's effectively already legalized or not gonna get arrested when you go to buy it right. And and -- your smoking it. In school you're probably not getting arrested for smoking a period like that derided it yet -- hit it at a concert you're not gonna get arrested forward if you're. Smoking it outside a restaurant or nightclub you're not gonna get arrested -- And the cops don't even bother you right in the in in the parks and in the city. Cops just walked right by the aides nor -- -- -- don't wanna be were bother -- -- the technical and once these dispensaries open. It's gonna become an even bigger hassle for police officers stop because -- -- OK I wanna see here in a larger. Information -- -- year prescription -- -- -- they're just gonna keep it still comes back to parenting. If she's your restaurant in terms of quality I don't want my kids exposed and you know and they're exposed to beer they're exposed to liquor in there like us and they can be exposed to anything. That's all appear to your capsule so I don't know witty what do you guys weighing in on this. Somebody in New Hampshire said they'd meet New Hampshire needs the money 603. 77 forces -- wonder how many people you're going to put on disability for being addicted to marijuana add up all the car crashes do you lies and everything else that comes with a good points of some four. 508 says no and I live in Massachusetts I don't want 71 that's a mass number. Absolutely not no one talks about the implications about. Health care costs of the tax -- ultimately pay you far exceed alcoholic to back. -- -- exceeds alcohol you know you look at the health care costs associated with alcohol abuse I'm not sure that marijuana is going to. Exceed that. -- kind of a mixed bag in terms of what you guys think in terms as a relates to -- marijuana be legalized they use like. Based on the landscape the political and ski. I had thought Massachusetts would be the first data absurd to think well Rhode Island. I am too -- I think that the again I think this is a -- that -- let's just -- on the -- -- that's -- you Rhode Island is a state. The eight. You talk about states with pension problems and financial problems it's it there's that word Arizona to have a bit of corruption could well. You're in now if they did it in Rhode Island right it's a job creator we have -- very high unemployment rates rate has yet to grow it in the states like Colorado you have to grow the marijuana. In that state and I have to open all the dispensaries. And -- I think about that they border massachusetts'. -- GE EMB in Rhode Island quickly -- have people from Massachusetts. Drive and a you have people from. Connecticut but I I do like the idea like Colorado that -- have to happen -- valid. Residents yes. I think that's I think you know not do you know they'll be people earning an outside to -- aren't trained attorneys of course you know. But it might it might deter Ers -- keeps them from you speculated earlier that cops will be -- a house in order. I don't like the fireworks in New Hampshire that's right you know -- it right -- the work they want to buy them I am -- -- and they -- as you drive over the exactly -- -- it could be abused her. Making money for the surrounding states because just just finding people. Try to bring it over state line. So it's really it's interesting and it's it's a whole new world. It went to a referendum the pass in Massachusetts to -- -- -- -- you know -- think it's pretty religious state unity you know we passed that we last year the small amounts right that the average realized restless so that's why at. Past and you probably rated probably would pass through life. I think I -- bugs me is. There will be no conversation. About using that money to reduce taxes right they'll be no conversation about quality if -- twelve million a month from marijuana tax we can reduce the state income tax will be no -- -- -- -- right -- -- -- -- expand from here rate outlook could lead you to expand government commitment that he additional marijuana -- -- there. Are in the next segment we're going to be joined by Melanie hit in it this is fascinating stuff you've got Chicago. Employees municipal police protesting about their pension. And now we have the hard numbers in terms of Detroit Detroit the fourth major municipality. To have to cut. Pensions for existing retirees -- I'm not talking about for workers that are in their thirties right of talk and you know people that are in their -- -- are having their pensions reduced in Detroit. Is coming to Massachusetts we'll talk about that as well let me. Mixed news on the planet to a change. Times are changing. -- My dad. That's from his old employer these types of retirement plans have been replaced by -- a plan with a match you're responsible for planning your own retirement this involves planning for income military benefits long term care and Social Security. We've created a guy that will provide you with the ten step checklist for retirement. This 27 page guide is available for those of you who would like help. Planning for a prosperous and worry free retirement 8668106. Or two to. Ask to have your retirement plan created now's the time to get started 8668106422. Securities offered through securities America -- member FINRASIPC. In advisory services offered through securities America advisors and Barry Armstrong representative Armstrong advisory group in the securities America companies Aaron affiliated heat. Experts at Web.Com -- to build your business a successful website for free just like they did for these Web.Com customers we used in and looked at other website designers. But there's nobody better than -- dot com. Web.Com can have your website built for free and often running in -- little seven days plus promote your site on all the major search engines like Google Yahoo! and -- if you're in business today and you don't have a plan for -- you won't be taken seriously call now to get your website built for free if after thirty days you're happy with your new website we'll continue to provide promotion -- support and maintenance -- just one low monthly -- if not cancel and pay nothing. Call 855254. Site. 855254. S -- TE. 8552547483. Or go to Web.Com. Slash radio. There was no portrait of him that's equity what -- -- rights to the tech relinquished what -- -- and unless otherwise purchase. The experts at Web.Com -- to build your business a successful website for free just like they did for these Web.Com customers we used in and looked at other website designers. There's nobody -- that went out. Web.Com can have your website built for free and -- running in his little seven days plus promote your site on all the major search engines like Google Yahoo! and -- if you're in business today and you don't have a plan for instance you won't be taken seriously call now to get your website built for free if after thirty -- you're happy with your new website will continue to provide promotion -- support and maintenance -- for just one low monthly -- if not cancel and pay nothing. Call 855254. Site 855254. S I TE. 8552547483. Or go to Web.Com. Slash radio. There was no portrait that's equity would -- -- right to take relinquished buckets and unless otherwise purchase. I had to line and appear worried about your character -- living alone like I was. And you are reliable senior care information. And call a place for mom. The nation's largest senior living referral service you'll get free information on assistant living alzheimer's care nursing home. Even important financial information. They had obviously researched every place not just given me names. They Downey plays her which she could afford and it was magnificent. -- now. Very confident that she's safe and they just helped every step of who to thank them. So if you're struggling to find reliable senior living information call place for mom this is a free service and you can trust them. If you're struggling to find reliable senior living information for your mom or dad didn't call or go online to get the free help you need during this turbulent time call -- 804677530. 8046775. There. What would you do and where we deter you just got a phone call from your mom and she tells you bet your 83 year old father needs to go into a nursing home. Hi I'm Barry Armstrong the host of the financial exchange and yes I have received those phone calls and emails from our listeners they're scared and they're looking for help you know that -- at a rate of 121000 dollars per month. The nursing home is going to wipe out the life savings of your parents and it's not gonna take very long is it. The law firm Cushing in dole and has written a free report called the top ten reasons to do state. And you can get your copy. By calling 866. 8485699. Now this guy provides DT -- information on the benefits of doing your state -- including protecting assets for the healthy spouse avoiding probate. Bloodline planning and a whole lot more find out more learn how this can help European 8668485699. That's the sound of people throwing out -- old. I'm recently installed a unit and was stunned by the difference I had. Say good -- to your. 888964. Way satisfaction guaranteed. Just go to dry house now dot com or call 888964. W a TE three -- OK okay. Follow him on Twitter -- KK here. It's very. On the financial. Chicago might have pretty good hockey team but they've got some serious problems with their pensions where they sure do and people there are protesting as a result the workers they aren't enough. Melanie -- and works for seed CNN money and she wrote about it there's a big protest going on in Chicago. By municipal workers Melanie good morning. What's the what's the problem in Chicago wired the municipal workers. Protest. I'll come -- try to preempt that strike on their part I there is no. Official legislate at this time you cut pension benefit. Either writing on the while. Trying to get cute and he's at and I'm starting at 8158. What they have cable more than doubled from one greener and a Allard who. How come what are rising going up so much Melanie. So it's going up EIR. And there's a lottery -- but the big thing. They don't have currently they have very little money at it I -- in contrast to what they -- out by now. Under state lie is. Not require it in contributions I get them back. At -- at -- Obligation but its -- out at bat popping at bell and a lot I think it has kind of pushed down their money I came back -- market during her passion for tunes -- and that a lot of art department and hang -- and either. -- -- It sounds like they have a choice between -- -- literally there they have to choose him between paying their pensions were paving the streets which. Some of the streets in Chicago are pretty tough shape. Yeah -- Here in -- insult -- And the air pocket and at that. The increased cost accountant but -- day. Reeker I think nearly 161008. Blocks. I offered at a concert 4300. Doctors are more than Perry and if he. Firefighters entire -- there now I am an amount of money. Now the barker argued that. You know -- not they're all they they come to work everyday at eight at at an ad aired eight. Toward it and and like I didn't -- -- you know other people in the entire -- like 888 or argue it on air. DD. One BE penalized and they have no control or. They they had to call how. Right now they have to do is look at Detroit rate and they can see with what ends up happening you just take its just a matter. -- from what I've read about Chicago pensions and now not only correct me if I'm wrong. It's not a matter -- whether they're going to default or not it's a matter of now how much of the haircut those retirees are gonna have to take is -- Yeah well -- different. It straightened -- and the different is. In here in bankrupt -- there's really no legal way he even had. The original act. And act -- -- at you and comment and -- their -- retirement. That really can't cut and current -- -- -- cannot string and that's what -- Arbitrator and it actually being -- -- they. There -- getting you. You don't thought that Chicago will go bankrupt. I I I think what -- -- people -- different. A lot of money. I mean that it's free -- but not. It's great it. -- -- opulent population totally rain you keep backing track -- a lot of -- and -- an honest I don't but now. And enemy and are not happy. So now where we're gonna be out I here's your. Yup because that seems to me things happening should cut it in Detroit. Because they had to start cutting back on services they had to start to you know of making it -- not such a livable place. In Chicago gotten that same situation and had to start cutting back on services they provide people would start leaving the city and attacks pace would start going down. And that's the concern I had -- -- and that's your lot and they are prominent island. A lot maker. Are saying they yet they don't like -- -- -- country union argued that of their tactic. You know we got -- -- Alec and aren't at all I think the thinking about Chicago it. They've seen what the recently happened in Illinois State worker at Illinois it unpacked and act and in December -- they note it pack and core. -- -- -- And what that -- will be slow the growth at their current intact their annual -- and -- a lot and it means. -- I should act. Now. All right well thank you very much for joining is only we appreciate your time he. You don't -- let me give people just a little idea of what we're talking about here that the thirty they're they are 36%. Funded. So like -- not even 50% at their 36%. The average retiree. From Chicago receives 40000 dollars a year. The average that he averaged just retiree however the average police officer or firefighter. Rick received 60000 dollars a year. Rate and it's in the these -- In those pensions are received -- the guys are like 5055 years old they might have to get those pension scheme for forty years right. At 60000 dollars a year that's a lot a month with Cole was in benefits or health insurance hurting us we're talking about the pension deficit there's also a deficit in terms of health insurance. That's associated with those retiree program this slow him and that's accuse another huge number acidity of it when they default on the health insurance they can throw -- over and put him on Medicare and most of them will be 65 double. But these pension obligations as we're seeing in Detroit let's give the numbers out for Detroit we've been waiting for these these -- matter if you -- he came out Friday night. And that you have really missed the news cycle right nobody covered it on Saturday because the Olympics are -- but. Detroit retirees. Are taking 34%. Pay cut if they were not in uniform so if -- copper firefighter. In Detroit retired you're taking it 10% reduction senior pension. And 34%. Cut in your pension so -- You're living on a pension of 30000 bucks a year 2500 dollars a month that's getting reduced by more than a third him. Well these perfect example in this I was a parking enforcement officer and the clerk for 29 years. He -- 850. Dollars a month you know his pension and that is going to be cut he's one of those would be 34%. Now kind of an interesting twist tell us remember that. They there's there's been an issue with going to court. Date do you remember this part of it okay so. That dead. The city which court to file this bankruptcy if they are willing to pull out of this court. Partly then this state will provide a certain amount of money. To this city so that this haircut doesn't have to be quite as dramatic it would drop to 4% for those in uniform 26%. -- -- the others. If they'll drop this losses. But it -- puts the rest of state is gonna have to pony that up. And it puts a lot of other people a lot of pressure on some other situations in the city. We're getting emails and text messages from you'll and one of them is really be. Appropriate finally says as a state pension contributor I'm concerned Angelo should be. But how do you phase out of the pension system when retirees are relying on my contributions and pay 10%. Out of my paycheck -- -- If if I was a state employer viruses that state union -- this is what I would be talking and union officials about it saying look. Let's do away with these defined benefit pension plans let's freeze the plans that we have now. And let's put all new employees on 41 K plan with a match and if even if I've got twelve years as -- State trooper or as a state employee and teacher -- anything I say you know it. Just freeze my plan. And going forward all what you do is take that 10% out of my pay give me a Mac. -- you guys that are out there and you're covered by these plants. You know I keep bringing these up and bringing up Chicago bringing up Detroit bringing up Rhode Island Alabama cases in Puerto Rico where these are these are all pensions that are cool you're not going to get the money that you are being promised you are being lied to and Deval Patrick doesn't care Steve Grossman doesn't really care state of they'll be dead. Right twenty years from now to all be dead and and you'll be mad as hell and you say that and Deval Patrick. You know he he should put more money in my -- they're not even putting the money in for this year's contribution. Checked I think they're not even paying the minimum on the credit card bill. And they expect you to believe that your -- going to be -- being lied to and it's up to you guys in the union you have to stay in the band together -- -- stop lying to us we're not stupid. And we can count and we can do -- Is this is one of those times -- gonna get the union -- stand up for you right is it you really deal anyway. I'm going on tyrant. Let that tirade that lets take a break and when we come back we're gonna talk about. He reached that we Abby would him from Morningstar is high on to vanguard real estate investment trust. That -- take a look at next get a pen on paper because we use the possible for. And -- Armstrong. Right here on the financial exchange on a scale. You networks. Times are changing in your retirement plans are changing with them hello this is very Armstrong from the financial exchange my dad retired almost twenty years ago and he receives a pension and medical benefits from his old employer these types of retirement plans have been replaced by a 401K plan with a match you're responsible for planning your own retirement. This involves planning for income military benefits long term care and Social Security. We've created a guy that will provide you with the ten step checklist for retirement. This 27 page guide is available for those of you who would like help. Planning for a prosperous and worry free retirement 8668106422. Ask to have your retirement plan created now's the time to get started 8668106422. Securities offered through securities America -- member FINRASIPC. In advisory services offered through securities America advisors and Gary Armstrong representative Armstrong advisory group in the securities America companies Aaron affiliated. How -- you doing up on the left I didn't start as small business to become a health insurance expert I've got a problem the paperwork in my employee benefits plus there's a deadline -- -- new plan from like gazillion options I can't get a more than a minute John Ralph. You're an idiot just call advantage benefits dot com what's advantaged benefits. Advantage benefits group is just like you they're locally owned small business and they focus on doing one thing -- helping customers manage their health plan and employee benefit that gets you the right health plan for the best price and -- handle all the administrative headache best -- all advantaged benefits professional services are free rates -- the same programs at the same but using advantage benefits sees you time and money so they. All my paperwork save me money and it's free I'm calling advantage reference dot com today great but you're still an idiot why. Your window is on the first floor roll call bill Randall an advantage benefits group dot com 8042624. Laundry. Hi I'm dying -- -- I'm a senior Medicare patrol volunteer. Our program sponsored by Medicare and the US Department of Health and Human Services help seniors trying to protect themselves from Medicare fraud and scams. For instance if your Medicare beneficiaries. And you're approached with an offer of free medical equipment and services watch out. If it sounds too good to be true it probably has call 1800 Medicare to retorted and go to stop Medicare fraud dot -- To find lots of useful tips and important information. About new fraud fighting tools that Medicare now hasn't thanks to the health care law. You resource is to help law enforcement cracked down on criminals and return tax Payer dollars to the Medicare trust funds. And how you can get involved in the fight against five. Gotta stop Medicare fraud dot gov and help make Medicare stronger for all of us a message from Medicare and the US Department of Health and Human Services. Who's watching your home when you're not there it could be burglar or burglars prefer to break in when they think no one is -- and no one will stop them. Don't be an easy target for intruders protect your home with a free security system monitored by EDT the leader in home security. Call now and get free hardware free medical and fire alert and free activation it's an 850 dollar value call right now and you'll also get 63 sensors that six point -- protection referee just called protect your home authorized EDT dealer at 18889873232. You'll get 24 hour protection and -- no cost or parts or activation. Call now about a free security system monitored by EDT. Call 1888987323299. Dollar installation charge 36 month monitoring agreement at 3599 per month total package includes six store windows sensors labor charges may apply call for terms and conditions to this offer and protector on license numbers called -- 18889873232. Breaking business news first Barry Armstrong and Jim -- did. On the financial exchange radio network. You know what most of us think about real estate think my house and by condominium. And defiant three family house rented out. There's another way to -- state and that's through the use. Real estate investment trusts. We're joined now by -- woodham and she's gonna talk to us about a real estate investment trust ET death was getting complicated hi -- -- What day first before we start talking about a 32 can you explain what ETF is -- audience. Check. And each count is very much like -- mutual fund the medical and the basket of Africa but unlike mutual funds. He kept situated on an exchange like stock up the name change is front and failed overwhelmingly tend to be passively managed which means that they -- and -- instead of stock. OK so. The one that we're talking about today is the symbol Ford is. So he does vanguard -- and tech eat cat skiing Q is a real estate investment trust each -- The idea behind -- is that instead of owning -- to re trying to pick the winners of the group. You own everything for product exposure to the actor is chock A and the RPI index that includes all domestic creek but pack a number of liquidity screen. And then wait that's holding by the market cap. So at the top of the portfolio he's he -- like Simon property which make up about 10% of the fund holdings. That the plot and he's he's smaller companies with other than 1% of the portfolio is totally. Now I'm looking at it right now it says the yield on it is 4% could I take that yielding captured does that have to be reinvested into the -- You can take in cash or can be -- -- -- So somebody who's looking for yield right see somebody who's just looking at these they don't want -- bonds because they're worried about interest rates rising. This would be something they consider. Yes we see at least he breached conflict into becoming increasingly popular way and coming actors. We are often pulled along side -- dissident income strategy has -- -- to Blake. Penalties and preferred stock its popular foreign access their interest it. In -- come alternatives -- income generated. Using the other than external content. Some interest -- on 88 why did you choose the vanguard as opposed to say the Barkley served. Fidelity you know whoever else has them what what what is it about -- like. Now I like to fund for three primary reasons firstly is that it's very cheap. -- -- -- -- -- Points which is the second lowest among real -- cast and significantly cheaper that you can find -- actively managed REIT mutual fund its cost is very important consideration when it comes each captain -- the most of important consideration. I also like how the index is constructed. It's a market cap weighted index but it doesn't require constituents need a minimum market cap. So as long as companies mean. -- liquidity screens they can be included. Felt as a result the fund has more holdings but other real estate -- until. Slightly smaller market cap quiet these small firms make up -- relatively small component of the total weighted portfolio. That they helped diversified fund. And how's it performed over the last five years. So it's been a very. Very good performing fund it's planted in the top court trial -- real estate fund category. And most skiers tenth 2009. Doesn't fault was it difficult year for the fun because it was difficult here for real estate general. But over the past couple years it's been a real top performers. Good good well Abbie thank you very much we appreciate it. Thank you at -- -- from Morningstar that pick was the vanguard reach index and the symbol for is the and Q. By that inside your hiring a -- by -- at a brokerage account. The thing that I took from it is 69 dollars a share but it's got a 4% depending. And that all of the sudden people look at and they say well you know like I could I could use of that but I have to. And use some of that city. Right. When we come back we're gonna give unit an opportunity. To win yourself a fleece it's still cold and it's a vehicle for why often it's getting -- right. Will be that we'll be right back we'll give you chance to win yourself a place. Breaking business news first Eric Armstrong. Or kill your own network and the -- and we met he came in the face paint -- -- wow. He informed me -- and you know there's this vehicle which. Got debuts to bring my -- and -- together. And that is powerful -- Thank you -- make CNN met my husband today and -- -- now -- Christian legal dot com today and find God's not treat you. Joining is easy and free. So go to Christian -- dot com today. If you're like millions of hardworking Americans who decide that the craziness of Wall Street and Washington -- too much to deal with so you retreated to cash them listen closely although the idea to protect yourself was good. We are now are realizing that earning next to nothing in the banks just won't cut it. Alternative investments that provides safety and interest as high as 6% just may be perfect what you're trying to do I'm there Greg war message. I'm -- can turn those lousy savings accounts around call 5085915444508. 591. 5444. Or visit us on the web at www. SEP financial dot com. Every day that goes by we don't earn money -- the dollar continues to shrink in value is chalked up in my book as a loss turn the page on low interest rates that thousands of new englanders have done over the last few years. A look forward to helping you -- call 5085915444. That's 5085915444. Hey Kelly so -- -- -- renounce. Its just me here jamaat I got your newsletter pretty fancy photos coupons -- and was it hold melons silly I these Constant Contact and really. Constant Contact dot com it's so easy they make me look like a million bucks an -- to really work oh yeah. They got you when he today did that. Trichet. Constant Contact dot com plans as low as fifteen dollars a month with a free sixty day trial. Your questions -- comments -- 68680. Non resident of the area. On the throne and him. What state. Radio network. Apparently needed a chance to win yourself. Police very. 50 right. We test well yeah when I hit -- you can win it tests the right after I hit the lottery I read you get one right and I I -- -- The official unemployment rate in the United States has dropped one point 3% from January 31 of 2013. To January 31 2014. That is the largest year over year drop since win. The tough question -- as a tough question I'll let Michael Graham played Michael Graham be unemployment. Rate dropped one point 3%. Your every year from January 31 thirteen to January 31 141 last time that happened. 14920. Yeah. We're coming -- I don't now. That's as I've got to see Italy yeah fifteenth at six. -- -- -- And what he really though I look at and it was in 1942. Happened. The congress the semi recession ended after George H. W. Bush under Clinton's sells me. War yes yes -- let's stick around stick around Leo will convert all of us we will. Now I have to break -- you know the answer last time Canada. Won the US Olympic gold in hockey and -- Sunday. Well I can grab it with tears in a row. Happy -- are apparently media what else you have to do plan -- -- that. Adoptees are located -- -- -- -- let's. Call it whatever action NHL's Latin and that's. Do in the protein eating contest number one again. And I -- All right so you know the answer 68680. Is our text number you can chime in there. I can do it crises and towns run and out of money our personal budgets are you surprised we certainly wouldn't be surprised under any circumstance -- -- -- -- terrible -- bottles oh my gosh that's going to be a whole -- story here come -- -- middle of April. Having said that what is amazing to meet varies how many of these counts undercut themselves for this. For example Lawrence they budget -- -- they budget 150000. Dollars for their snow removal. And day there are public works person says it takes a hundred grand just get out of the rise the first time it's not to repeat it rains but it -- -- its nose or screwed it pretty good idea how they're not the only town they'll know they -- not a lot of but are over budget that's understandable but 52 excellent realistic you know that's you know that's -- that in your town -- I I was driving around our town that midfield. In a driver that your town David Walpole and the roads aren't just like the leaders. Potholes that are the size of Rhode Island about that we have in our town -- it's terrible but it's everywhere it's terror it's just a real rough -- At -- -- ice in -- belts these last couple days that doesn't exactly how all that's possible at the Burlington mall. That just -- it -- last weekend so I think our descent. What Danica yeah. Bruins and Smart cards. I don't think it was attached. I don't complain or I live we have a -- that the bottom -- Duncan. Just. Got to -- We'll be right back for more on the financial exchange 68680s. Or text number one planner. -- your favorite news photos and sports updates on your phone when HP mobile from the Associated Press the new AT mobile is now available for free and iTunes AP mobile where the news gets its news. Hi this is -- -- from financial focus tune in each morning from eight to nine right here -- AM 11:20 am thirteen 98 and -- money matters boston.com. Times are changing in your retirement plans are changing with -- hello this is very Armstrong from the funny to exchange my dad retired almost twenty years ago and he receives a pension and medical benefits from his old employer these types of retirement plans have been replaced by a 401K plan with a match you're responsible for planning your own retirement. This involves planning for income military benefits long term care and Social Security. We've created a guy that will provide you with the ten step checklist for retirement. This 27 page guide is available for those of you who would like help. Planning for prosperous and worry free retirement 8668106422. Ask to have your retirement plan created now's the time to get started 8668106422. Securities offered through securities America -- member FINRASIPC. In advisory services offered through securities America advisors and Barry Armstrong representative Armstrong advisory group in the securities America companies Aaron affiliated. Some nights I can't get to sleep some nights I can't seriously if you knew some I can do both. You do some sleep -- are clinically proven to help you fall asleep 33% faster and keep you sleep longer -- get a more restful night's sleep. Meet with an ingredient not found another leading sleep -- -- -- some sleep -- are safe and non habit forming just one -- takes the uncertainty out of bed time giving you this -- you need -- wake up ready to go. You know some sleep -- fall asleep faster sleep longer. -- bridge very Armstrong here with your financial exchange quick tip of the day. Joining me is -- Greg wire from SHP financial. Derek are you don't do agree apparently famine lol glad to have you here listen I want to ask the lot of money was lost in bond funds during the month of June. Interest rates have gone up but they're still very low. The yield on the 10 year treasury this morning was about two point 61%. So if you. If you went out and bought a ten year treasury bond very safe investment or you're getting is two point 6% on your money taxable. The next ten years but how can a listener use a structured settlement as -- as opposed to using a ten year treasury or any other type of bond. Starts a settlement transfers of very safe. Investment. Where you're getting paid back from some of the top financial institutions in the world insurance companies insurance companies you're -- by purchasing a structure settlement transfer. Be able to achieve a fixed rate -- return. In the range of 45. And 6% depending on the length of time all American and ten year treasury. Exactly so if you're concerned about interest rates you know -- and if you're stuck in a low interest rate environment like we are up. They've they've become a very very you know great investment for a lot of no baby boomers and people are just looking to get a better return. Or anybody that's concerned about money they have in the bank and a CD are sitting in a bond fund I would think might wanna consider learning more about structured settlements. That's my suggestion to you interest rates are low they don't appear to be going up anytime soon and you might be losing money in some of those bond funds are invested -- Call SHP financial and ask for a guide as a relates to structured. Settlements they yield somewhere between four and 6%. Leave your phone number. 5085915444508. 5915444. To the interest rates at the bank heavy down with -- litigate it down call SH -- get a guy. Talking to doctor Ryan Johnson of new wells he dental partners about the rejuvenating powers of great chemistry. So -- schoolteachers came in last week we laid out a treatment plan and I told her in a week we can have you looking pretty much brand new. And she was very excited came in. We did the work that if she got -- -- the -- She was so happy that we were able to transform her in one visit. When the results really were amazing. Replacing tired industry does more than just improve your health and your smile. It can transform how you look and feel. Orders and -- -- case she -- 1015. Years younger I saw our subsequent visit. You know she came in she had to make she had her hair done there was like renewed and rejuvenated. There. That's the doctor Ryan Johnson difference at Newton Wellesley dental partners dot com call 6179651225617. 965. 1225. 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Heritage for the blind accepts cars vans trucks and boats whether they run or not donate your vehicle and you'll receive a free three day vacation voucher to over fifty locations. Call 1808958035. At 1808958035. The. -- its hold on your checkbooks and did your portfolios break. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Welcome back to company to exchange very into -- dot com as we can find all the information on our program and 617 knew the correct answer to a trivia question and and Michael Graham did not know he gets a 1492. And it's it was just a little bit off and it was. From 198384. Straight and trade in its excellence haven't had the correct answer it somebody's trying to get in touch for the now and find out. Who it is and -- their fleet with the size. -- the markets and violence today Mary. Yeah I am curious say you know prisoners. But I and I think they're some of evidence that the economy's slowing down I'll talk to Deborah work short from the street on the AD however it yet. Debra good morning welcome to show Daria -- Hi good morning happy Monday. In -- -- of a curious say make the stock markets charging ahead but for the economic data has just been. Abysmal for the last few weeks which would -- your take -- -- -- us. You know I would agree that you most of the economic data that we've gotten and has not and teller. But the market continued to push higher which has been. Kind of engine thing detected did people watched that a lot of the traders -- appointed to a lot of the line being fairly low. That not that many people are really counting and then they're being very selective in what they're buying now. It it has been kind of an into the market to keep and miles. Do you think it's possible with all the weather delays and weather problems that we actually had. Negative GDP in first quarter of 2014. When they when they're done counting and I mean I looked at the ten day forecast. To be cold right in -- march right. Right that in practice and for a bit you know in the northeast. We definitely helped it -- -- and I can't get caught on that that Ortiz hit back where we think the whole country separately we are. If you have any relatives in the mid land you know today in Wisconsin and Minnesota those types of patent. They are. Broad and doesn't. Poker. Game hasn't gotten -- bureaus and sometimes particularly good at times they have to have gotten count it was now it's been one of the hardest wondered and a really long time for them. And held there in -- acceptance in the market that the weather -- that we normally discount is being accepted by the time round. But is it enough to drive negative GDP it is that's recessionary -- has it happens two quarters in a row. I know that JPMorgan. A compliment. Parolee who lowered his first quarter GDP from two and a half percent down the Q percent. Now -- that the weather. Had an impact on -- but he that it was actually a little bit smaller. You know you feel that actually you know Washington and kind of hurting things by not extending unemployment benefits and -- in the capital spending tax credit collapse. I don't know what outlook then now. I think I kind of air -- might have I come by the weather excuse. Okay what about the the housing numbers say the view the do you think housing comes back. Because the housing numbers last week or bad and we're gonna get a lot more housing data this week. Well you're right we did get a lot more housing data this week and not you know do it several of the report out last week -- kind of on the negative sign up make that thing home to Dell declined 14%. We know that mortgage rates have been higher we know that fight didn't have been higher you know anyone. Let's try to find the plate but by -- New -- -- pretty much about the market because -- the that the pregnant -- we particulate. You definitely had that adult content that point isn't. We we're we're starting to think that we may have -- the investor buying and that will be helpful. We definitely have -- inventory on the market because all that. I was -- how -- that we had left over from the mean. I think yet again you know. Don't look at how. Green mountain time or there's a foot of snow on the ground and I don't want my neighborhood I mean nobody else personnel that -- -- -- compiled and now it's easy to you people want but -- want to get themselves. I talked to a realtor yesterday and she had an open house that was a really nice day up here in Boston yesterday. And she had fifty people come through the -- nicest day we've had though that's. Yeah that's right. Then that's just an indication that you know the -- -- it's just one night when example but I'd be curious if you're real estate professional there what did you see in open house activity this past week and it really -- I'd also like to know what happened a car dealerships would new because that's another place I noticed I was driving by one yesterday and saw that there were lots of people we're not yes. And the cars were clean. For the first time I've seen them actually cleaned off so you know maybe there's just -- that pent up. -- and -- outlook will be watching The Home Depot and a load earnings report this week as well because that we're thinking now deepen it actually benefited from a hard whether. I know I went I'd broken -- In the eyes and have what it got to go over plate that and they have. I laughed no not all about a year. Every place was sold out as -- Good very -- immediate here and in those Arctic -- you had to go out by more. In the Malaysian. Carrier -- to you know it popular at Home Depot couldn't benefited from a. He mentioned that you thought -- a lot of the investor property. You know were the investors were backing off but I saw that first time home buyers. -- 26%. Of the home sales last month in January and that's the lowest it's been dead since 2000 and eat. That is true now that we were ways -- means that investor buying pull back a little bit there and Blake. Want to Vegas and Phoenix to Sacramento on those little cash buyers where people were going to get to try to buy home if you were first time home buyer. And going up against somebody that -- it all cash. And those are starting to come down and those are does construction -- now. And editor Brian we aren't mean look like -- until now pair but they're doing -- deals where their final home and reverend king and they're not like buying and flipping. Let him. Yeah it could not a complete positive but it is better to show that that market doesn't investors are pointed directed Bob and bill. But Deborah thank you very much stay warm you have -- over abortion art from the street -- comment he the -- -- really and a lot of roasting people listen to the program. When he got here scene out there for open houses. The I just happens to somebody posted on FaceBook last night it. Like she was it made him the issue that is sort of park is right as the snow banks everywhere. It was really hard for people the and and they wanted to secede and errors I'm hearing in Massachusetts. About. Drastic inventory shortages. Realistic -- -- -- Just -- although that may just be the fact that a lot of people are holding on an upper house on the market right now. You know just -- just sitting waste surely I thought I would have put it on the market and you want to retract insane and it's thanks for your house -- house to try to get rid of right maybe not. He can tell everybody about this husband and wife team they're found guilty of running QB trafficking -- this is terrible. It's just -- this happened someplace else you know I think this happens here don't you about it. It happens in your backyard unfortunately folks that guy's name is -- you now Henrik day and he's forty years old and his wife use. Ramona Enrique and she Hernandez rather charge she's 52 he's -- -- from East Boston and they both have been found guilty of running this. -- what sounds like a pretty organized. System bringing women in May entice these women -- -- for him for a week or two that live in capsule deplorable conditions. And they would be here for the sole purpose of selling them out for sacks on some times fifteen. Times to me she's. And there's going to jail for a long time yeah they give a sentencing I don't know that they and the DA warning Agassi yet. But it's his candidacy because says you don't really get that is going on. A message saying you don't think that's happening in your backyard but it is and what they're doing with the which really. Great about it is number one it got them off streets up this organization but they're also. They're following the trail. And there's a whole lot more people involved in Atlanta -- running yeah. They're following that trail that they found somebody who was running the house and made that person's going to jail. Innovative found all kinds of people along the way here so. Good for them. Good ms. gross and want to talk about a company a local company will he fare they have filed -- they've enlisted the services. Some investment banks to file an initial public offering. It's -- fair LLC in several banks that are helping them raise money. To do an IPO now wait fair is it let's let's talk about the type accompanied it is it's it's a retail -- On its online retailer agreed to -- exactly in what. A lot people didn't know about -- told recently primarily because they wits they would sell their goods on numerous small. Ditched web sites of cancer -- realize maybe you're buying from wasting he would you know be on some other kind of five furniture. Site. But now they have arrows. And while they haven't turned a lot of dough. They I guess or are becoming more and more popular the growing and they're growing but small revenue -- only like 180 million dollars of revenue right. So still pretty small but again part of that is because I'm not sure that a lot of people who may be or using your services before you realize that they were really using them and that now they have their own web sites have to go to the -- fair. A website Padilla Padilla a guy who started it. He cites you know a number of different form IPOs in the past -- -- have gone without making a big profit we have. And he believes you know that they can be equally as successful. Well here's for more companies that are rumored to be in the IPO. Hunt if you will. Hub spot -- saw -- their marketing company. Then we which is a software company cyber security company called Vera code incorporated is rumored to be going public. And then finally we talked about this last week. Urban street where retailer karma which right. Never been and one of their stores but evidently they're thinking. -- filing for an appeal of appeals left -- right sort of the last time -- I saw. A dog a bomb sniffing dog -- Logan Airport. Pressure I've ever seen one at Logan I was trying to think about that this morning. I have seen them. In airports bad primarily overseas and that's where I seen them as -- say I saw them at Heathrow where right excellent Frankfurt. -- -- -- but you know what makes a lot of sense -- coming to Boston -- they've got one out there right now and this was. Actually planned prior tune with the government's latest. Alert about possible shoe bombers. And that happened as the Olympics started and so there was pretty fearful that they party had this dog coming she tried out. And they had that the southwest. Terminal and the great thing about a dog eat dog can smell. Explosives. Not just like that on people's mind -- thought that it was German -- -- last. I -- -- sea dogs at the marathon this year I don't know but I think it is not a great idea would all day. They'd be everywhere I can tell you these dogs I think just fascinating I actually solve. Story may be some mean folks listening to solve this I don't know maybe six months ago on sixty minutes about how they trainees -- and these were military dogs. But they did the exact same things that they would go to sniff out you know land -- that kind of thing explosives. The week between east on its mind because it is unbelievable at what the yolks and mark do. Right it's just really it's really fast and they become really incredible pets -- handlers get very attached they do you talked to guys in special forces are guys. They love -- Well especially like a lab a lab I think it's naturally pretty friendly loving dog and then their ability. And what was so fascinating about the story that I saw was the loyalty that these talks have for the Hitler's. You know on some of these guys who -- overseas. Dated a stepping on land buying and lose -- lag those dog would never leave them they would you know they were so protective of them. So yeah it's really -- really fascinating I think they seem like the perfect fit for airports. And for big events like the marathon director of the perfect. Well we'll see you know we asked the question of view as to what you're seeing out there in the real estate market. It with your real estate agent to our professional please let us know 68680s. Or text number 978 says. On the builder who sold three houses under construction all right so they're still being built in the sweltering. He has three more ready to start but he can't get the foundation and because of the frozen ground. Well so. It it sounds like it's it's coming around in your 617 says yes -- a re Max agent in Quincy South Shore area. Poor inventory is true talking to homeowners on the fence to list they can give people the list. Are worried that you'll get a good price when in fact if priced correctly. The little inventory will give them more money well they obviously right if you're if you're inventory levels are low it's a good time does sell your home. I do you have to do is look. At the market that your you know like you might say okay I live in Quincy. And I want 450000. From my house. Would have -- competing with. To get 454 right from my house -- you know and see if is see if there's an opportunity. To sell it. But the other thing is you know my wife and I talked about it you know where and -- -- is bigger than what we need now but. Where would legal right he does he tell us how she got to go somewhere and got right bets. The empty Nester space that dilemma. You know you're in your late fifties you thinking OK I -- sell my house warming and ago you know. And got a Condo. In Long Island. Yes -- -- account you're means. Consuming. Just a little quick switch here. Talk about the dogs. Did you read this. Friday terminal B dialogue. As well as two officers with semiautomatic weapons. -- I saw that Frankfurt as well that's that's not equally under the at Logan right EU -- he's your your rate in the European airports. You see. -- armed to the -- yes the role in the -- actually see the guys in the flak jackets at Logan the state troopers a lot of work right right rep had never seen carrying semiautomatic like that and I'm here. I don't endeavors. Yeah again I don't think I've ever seen in the United States on its soil its share. What's going on with new ballots to be signed some players -- where their stuff for us -- -- sign yet. The local company -- count and count by the way you these issues. -- they're like there were close to. To slow pitch for your. Yeah they hate my endorsement that's right. They signed. At what appears to be the entire infield of the Red Sox really. All four guys. Later and let's have some rookies that's supposed to be really great Zander bowl are currently see one of the guys he said yeah yeah. If they played shortstop for I don't watch much these guys are baseball. Now but they they signed first second hander in third. That works. And so they'll all be and they said it wasn't really got Dustin Pedroia to etiquette doesn't dry and -- guys make -- -- -- I think it is sheer. Is all they have to do is where the sneakers and indeed that's the. Who knows maybe maybe not be part of the deal doesn't mean it's very different for securities and establish guy obviously when you get more money left over money and they may want him to make appearances wouldn't think I tell you I think Zander. You know because I think he's going to be a star is really appealing young -- wells spoke at. If I were. -- ballots I would want him to make a few appearances. And chatting on my behalf I would think so they must be hoping that the Red Sox do not -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Well I allied I was now that the battle for them if I were -- balance I would work on some way to to promote the idea that where. Supporting the infield with the those guys got a lot more money because they won the World Series sure they're getting paid unity and -- on their contracts. Because they won rate demand good team and and now they need Whitney. In the sports winning. Equals money. -- I -- -- I guess expression it's not just in sports you know winning equals money and for these guys it's it's gonna pay off. So I saw something on Saturday night I'm not sure quite what it was. That is out to dinner and my son's girlfriend was wearing this wrist band. And it measured. Her. All for exercise. For the whole day and then she showed me the app on her full and yes it said. -- how many miles she'd walked to run during the day and how many calories Sheehan -- guys knew which you know what I'm talking matter. -- -- that's the thing we talked on the show that I have to fit it I think you're aware -- you know because I got over pretty quickly. At first it was basically a good motivate their -- you know. I welcome my you know I'll see my wrist and I see that -- sometimes I'll check the after CME steps I've gone how many miles I've gone today. It was a motivated if I didn't go enough. Maybe it worked out later in the day. You weird little interest expense you eat and sleep with -- on to her she said they she wears it which he sleeps in majors. You might have a much sleep she does she have a better one this one went into the -- way to put yourself I I wore the fuel for a long time that nice that's Nike's. Version of -- And for me it was exactly as David is saying you know it was a motor -- my son and my husband once we get into you know some kind of embrace that I -- to seek. But my problem was that I'm -- in addition to some other things I also spent a lot and it even get credit for. Because it didn't. It had to do with literally steps so if you ran it -- -- -- ride a bike he'd done right so I'm on a bike for an hour. And I got no credit for. And -- saw that they all like that not all know now that at least the one I was using was the same thing right yours lifting weights or doing I was just now into admitting he wouldn't exactly so I didn't like that because. I would do it now power in what wrapper around 45 minutes of exercise and never get any credit for. Did you find that you were checking it though every day like I started -- worker for allegedly yes definitely. It is the best thing we threw a fit that perspective the best thing I have their -- scale as well. And you go and you'll stand in the -- -- way -- will automatically send your phone that's cool that's -- that's just one when I'd like to lose its holder how many calories she was burning businesses and they. You know -- you're in Anderson there at 6 o'clock the amber and many calories she's that you just inclined not to eat is all it is -- small garner inside and bracelet. Thought it. I think it's agree I think it is a great motivate her for people. Who maybe aren't that active. And so it would make you say cash you know like an open question is what I mean tighter you know looking at this what apple was really focusing on right now. Is everyone's waiting for the watch to come up a really they're gonna use to really focus on -- that Portugal they have better technology out of you're watching all these line wait like heartbeat increases PM I dramatic amount current course that -- -- get some. Yeah I mean less of having a massive heart attack what I would think that I would get some credit for body temperature sure exactly so. That was violent. It wouldn't come back or be joined by Bob Powell for MarketWatch. This is the financial exchange on the financial exchange radio network. Investors searching for relatively low risk investments that can easily be converted into cash often turn to certificates of deposit CDs leader bank is currently offering a fifteen month CD with an impressive one point 25%. EPY for new accounts with these kind of rates now is the ideal time to take advantage of this great opportunity from -- leader bank to learn more about the fifteen -- CD with -- one point 25% -- call 7816463900. 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To learn -- -- -- a step -- minimum -- open and current annual percentage -- -- 1000 dollars Massachusetts residents -- penalty early -- including -- penalty which may reduce -- -- subject to change without -- -- FDIC. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 54 port four times are changing in your retirement plans are changing with them hello this is very Armstrong from the -- to exchange my dad retired almost twenty years ago and he receives a pension and medical benefits from his old employer these types of retirement plans have been replaced by a 41 K plan with a match you're responsible for planning your own retirement. This involves planning for income military benefits long term care and Social Security. We've created a guy that will provide you with the ten step checklist for retirement. This 27 page guide is available for those of you who would like help. Planning for prosperous and worry free retirement 8668106422. Ask to have your retirement plan created now's the time to get started 8668106422. Securities offered through securities America -- member FINRASIPC. In advisory services offered through securities America advisors and Gary Armstrong representative Armstrong advisory group in the securities America companies Aaron affiliated. Hi I'm -- London and appear worried about your character Loveland living alone like I was. And you are reliable senior care information. And call a place for mom. The nation's largest senior living referral service you'll get free information on assisted living and alzheimer's care nursing home. Even important financial information. 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Personal best in business is right here Barry -- stroke and came here again. On the financial exchange radio network. Present -- our budget proposals slightly. In contained within that budget proposals. When there's a lot of stuff. But part of it was going to cut the tax breaks. For anybody who was rich and contributing towards a retirement plan. I didn't fully understand everything that was in that budget in I'm not sure -- get through anyway. But we are joined by Robert Powell from MarketWatch it's a division of the Wall Street Journal Robert good morning. Barry hit help us out of it how does the president's budget impact high earners and their retirement savings. Just what in essence what you want to do is to limit the value of all tax deductions by contributions -- and I reductions to 20% net income income. And that included overall cap on all retirement accounts including tensions. And the hope is that that would bring in about a billion dollars per year in tax at the. When you -- right time tapped beaming like if he is what does he want it to get a million dollars in your 401K -- It would be 3.4 million in Europe IRA -- retirement accounts and then on the 28% limit it would reduce any tax advantages that you get. And after reaching that limit and so in -- of the text people weren't pretty freaked out about a year or couples earning to a 25. A thousand miles per year so you in -- would be went to reach that 20% on captain you wouldn't get any. Deductions. On poor contributing to your point case. So yeah. -- like that's gonna distance sent people to put money away. Well it would it is and that's when she complains about the program is you know that we act in this country would have -- security problem. And what you want are born and does not -- instances of people to state. The problem according to the administration is that. Is that it you don't have a problem with high income -- it's time -- -- problem with low and middle income earners and -- time. So by capping that you would create a billion dollars in revenue. That would then could be used to being -- slowed middle incomes papers to save for retirement through. That kind of race. But let me play devil's advocate there probably give if you say to me well we're gonna let me -- 20%. What's gonna stop me from just saying you know what held the whole thing I'm not gonna have a fluent -- Well you know that interest in -- and I think that's why it will get passed because clerk need to be approved our budget is because. What's gonna happen -- small business owners will today. I can't say retirement I'm just gonna not complete retirement plans and closed down or you just created one more distant that it -- -- that created -- So you'll see is all of these folks who -- hit Portman amenable to create retirement plan put their bloated middle income workers. Probably will be handed because you know -- you remove the incentive for them to. The small business. What is what proposal that might the past I think in the is that this notion. Limiting how much you can put in pretax or 01 K so 11 wrinkle that's being talked about as establishment in 101000 dollars pretax. And then 7500. Into a -- world in which would obviously be. Post tax money. What's the let you know behind that he just to get our current tax revenue. Right exactly -- you need to where you need -- way to create this one billion dollars and that that would incur ultimately workers to contribute. Which is going to be in what. One of the books I spoke to said. You know if we put in place disincentive to people in pretax basis what the governor bill realizes. This is not money that never attacked. Impacted might be taxed at a greater -- years from now because that money because in -- goes into account that grows in value in the stock market other investments. And so and 203040 years later you're pulling out money that account. And it's grown beyond the -- that put in you know thirty years ago but it's actually get more taxes. That no later than you would. Yeah I've talked to a lot of guys that you know they make a lot of money in their Justin as high tax bracket at 75 as they were when their 45. Read in some cases even higher because once you factor in required minimum distributions are working retirement so security -- instead interest income dividend income capital gains. -- higher bracket. So -- candidate I think you know the president has slowed -- he did last year it didn't it didn't go from last year I don't think we'll -- from this year but people who would -- times certainly need to be aware of the possibility that you know there. Retirement security savings is that -- No -- I appreciated and I saw this on Friday when you posted you know wanted to talk to thanks for joining. Yet thank you -- 2300 commentary that is. How. -- that doesn't surprise an enemy if it's an eye catcher -- You know Larry there aren't any just seems I've -- I don't this is really on topic but it just seems like there's this constant assault. Against success nice if you work hard if you make a lot of money you are evil. You know in in just today and -- understand where that comes from. So I don't either we -- we should encourage retirement security weather expert low or high income folks that. Trader at the Bob thanks very much secretary. Bob Holland. You know what that's that's important enough to make sure to expose it absolutely people forget the you know media capital gains and dividends taxes if for rich people. Were raised by 33% last year and I used. The the list goes on and on in the just. It's the American way to go out at no success knuckle down and see you at Selena -- your. If it's if you're rich and successful you'd didn't do that you know again that's right that you -- -- where you'd must've done something wrong. If you if you got a lot of money. And because. And he didn't do that and yeah it's it's it really in and. And to do anything to keep people from saving money is just it's wrong. That is our it will be backward take a look at some changes going on over at CNN would return. And. Barry Armstrong. Right here on the financial exchanged on the WRKO. Radio networks. The experts at Web.Com -- to build your business a successful website for free just like they did for these Web.Com customers -- used in and looked at other website designers. But there's nobody better that went out. Web.Com can have your website built for free and often running in his little seven days plus promote your site on all the major search engines like Google Yahoo! and -- if you're in business today and you don't have a web presence -- you won't be taken seriously call now to get your website built for free if after thirty days you're happy with your new web site. We'll continue to provide promotion posting support and maintenance all for just one low monthly fee if not cancel and pay nothing. Call 855254. Site. 855254. Best ITT. 8552547483. Or go to Web.Com. Slash radio. -- was -- -- portrait of him that's an equity over the place right to take relinquished what cancellation unless otherwise purchased. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Hi I'm dying -- -- I'm a senior Medicare patrol volunteer. Our program sponsored by Medicare and the US Department of Health and Human Services help seniors trying to protect themselves from Medicare fraud and scams. For instance if your Medicare beneficiary. And you're approached with an offer of free medical equipment or services watch out. 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Times are changing in your retirement plans are changing with -- hello this is very Armstrong from the -- to exchange my dad retired almost twenty years ago and he receives a pension and medical benefits from his old employer these types of retirement plans have been replaced by a 41 K plan with a match you're responsible for planning your own retirement this involves planning for income military benefits long term care and Social Security. We've created a guy that will provide you with the ten step checklist for retirement. This 27 page guide is available for those of you who would like help. Planning for a prosperous and worry free retirement 8668106422. Ask to have your retirement plan created now's the time to get started 8668106422. Securities offered through securities America -- member FINRASIPC. In advisory services offered through securities America advisors thank Gary Armstrong representative Armstrong advisory group in the securities America companies Aaron affiliated. Follow Mary on Twitter at Barry G Armstrong its Barry Armstrong and can argue. On the financial exchange -- radio network. The fan of Larry King. Was I like Larry. Thanks to watch at 9 o'clock -- turn and not all the time but now and I -- their I do's and turn them on. To see who he was interview yes he hits good interviews and he was a good I I was -- -- -- good interview. -- style -- to serve in your face like that about him you're right you did wanna see who is there because they were probably the biggest newsmaker of the day he had big names yeah he did he would be he had the biggest as the day I have to tell you I'll -- Morgan took over for him has he done. Horrible and I like -- more you do I am I. David I've come to the conclusion that were the only two Americans the -- there's now a note to the other that we were the two people who watch and not again I didn't watch him every night -- -- liked him I liked his style. Like his style I don't think he's afraid to ask any question hundreds atop an earlier yeah yeah yeah. But you know what did him in a mean CNN has issues period and so you combine that. With the fact that he's Anthony's -- Larry kings and I got all these things to get today and he is a staunch. Gun control at all he never. And they are they.