Mar 25, 2014|
3-25-14 Full Show by financialexchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is Barry Armstrong and I'm joined today. By estate planning attorney Todd what's -- from the law -- of Cushing -- with your legal exchange quick tip of the day. We're talking about last minute planning techniques they can be used to save your assets. Todd let's talk about protecting things like vacation home or rental properties he may have accumulated a lot of rental properties over the year. How do you. Sort protect those from a nursing and you know those are oftentimes most important -- him it's that -- front -- whatnot you know and and you really want to make sure that those aren't taken but often times. They're completely at risk in order to protect that vacation home. Converted to a rental property and the rental properties of course are ready rental properties so you're okay there. Now the reason being is once you convert this. Ascent now homer that as a vacation home with a rental property to rental properties it's considered non accountable for Medicaid eligibility purposes. Because it's generating what they call it a Comedy Central to self support he get yet the European come from the rental use the net income you know you get to maintain the building pay the bills. And only the net income have to go to the national can you improve the buildings of improvements are needed you put -- but you know -- so what if somebody else's money that's going to nursing home and you got to keep the asset now they will place a lien on it. But again the -- is going to be at a much lower Medicaid rate. And private pain we're talking about 6000 a month nursing home Medicaid rate. Verses 141000. Dollars a month. A private pay rates so liens are not a bad thing -- property can save it the right. This is the time to do it folks. Request this last minute planning techniques guide available from Cushing handle here's the number 8668485699. Don't lose your real -- don't lose your vacation home. Call 866848. 5699. That phone number again 866848. 569. 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years ago and he receives a pension and medical benefits from his old employer these types of retirement plans have been replaced by a 401K plan with a match you're responsible for planning your own retirement.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 affiliate. Michael -- -- another day trip from the actual truth notebook. What do you call someone who wants to criminalize your styrofoam cup copy but decriminalize cocaine. Lion Massachusetts liberal of course. Democratic candidate for governor -- Haim has announced she's quote open to decriminalizing drugs beyond marijuana close quote here in Massachusetts. What you're seeing in other states is getting job offenders what are the drugs are in might be cocaine crack whatever. Out of the criminal justice system by essentially decriminalizing it -- and said. Wow at the same time items -- hardcourt eco -- who supports idiotic ideas like banning the sale of bottled water. Using plastic shopping bags or -- the convenience of hot copy in a styrofoam cup she's on those anti size lefties who want to be in the use of so Vermont catches juniors smoking pot using a homemade bottle -- response supposed to be. Oh no not a plastic water bottle. More than a few -- went over the. The experts at Web.Com what to build your business a successful web site. For free just like they did for these Web.Com customers we used in and looked at other website designers. There's nobody better at the moment ago. 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 plan presents 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. There was no portrait of him that's equity what you flight rights to the tech relinquished much -- unless otherwise purchased. -- -- hold on your checkbooks and did your portfolios break. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Good morning New England welcome to the financial exchange and we sit here in great anticipation. Of yet. Another snowstorm. Well I think there's a lot of people who are sitting here with great anticipation of hearing your story about white couldn't get back yeah. I'm -- it. His boy back -- after I get an extra day -- to the airport. And hopefully on Sunday morning so we had to stay until Monday afternoon. Was that hearted duty night and well at this morning if you. I don't know why he didn't just stay in because I would like this storm go I just say hey. It's noted is this it is is this I looked at the ten day forecast. And you know we had this storm and for those you down on the deep in the sounds like -- and yet it pretty hard. Up in Boston or maybe interest he's not getting it. Yet not not a lot of appear hopefully. But then after that the next ten days looks like when it pretty good you know fifties and I mean you know we all. Teacher remembers infamous. April -- Snow but that's -- -- let's hope it's. I. Had not checked out you know I don't like about this though at around it's gonna come back at -- off the water so it's windy everywhere. Data with this Arctic ice tonight right. And look forward to. Just the final shifts from winter -- if we knew for sure right yeah it would be quite worked out. It would give the couple data points get real estate sales numbers Kay -- a thirteen point 2%. Yet consumer confidence coming -- 82 point three that's the reading on consumer confidence that was better than expected. In home sales coming in at 440000. For the month so bad that that number not very strong however you have to consider. You know I don't know how many people were looking for new hole right he's in. You're going to provide a pivotal -- here and I know people felt like it was a real excuse but I think it really is kind of broad. You know to some pent up. Anxiety and some pent up money out there and we hope that -- answer to see it loosen up here in the month of April but. I really do think what they're attending to these numbers for sure so you know out of South Boston number boss was up nine point 1%. You ought to your career -- your ear of the year. So you -- -- the positive direction right in the united in the kind of growth everybody wanted to seed but it's better than negative I -- Chicago dropped. Quickly. -- -- Know the -- Chicago had bad -- down one quarter percent from him. Eat it seems like state. Just I would say it's down it's certainly sent. Right I think it's it's which kind of a plateau right that but again let's wait what happens when the weather clears. We got to wait -- Let's go through today's program we're going to be feeling by Jean's new anger from Bloomberg. And on that topic you were talking about. The G-7 yeah. Which is interesting is PGA used to be the GA -- yesterday when we made the decision it's now the G-7 -- Christmas because these world leaders have decided they're gonna exclude Russia. And -- increased sanctions against Russia as a result of what's happening with Ukraine you know when you laughed I'd hoped. By the time you got back we wouldn't be talking about that anymore but unfortunately. Agree about that for quite some time so on they're moving the G-7 what was the G-8 to a G-7 and what was going to be in Russia to Brussels. We're gonna get an update on the CD now the Malaysian jet liner well I've heard that -- yeah. -- it's a long week you know it's really interesting and -- now the media is going from. You know this constant barrage of information about what's been going on that plane to saying have we covered this too much that's now the big question. The idea and I -- I'll tell -- that last week we tried to avoid it. Here on this program as much as we could except for those days where there was something bring -- of interest you know yesterday we heard that yesterday when the prime minister came -- Seems like eight years ago prime minister came out and said that they really think that it is in the water. Southern Indian Ocean. And if you by the way if you watched. Some of -- technical folks who explain why they think that's true. To meet -- seen much with school news he we have a company local company includes. And he sending the UV the technology to find used -- -- David. He news -- factored in Quincy Massachusetts that's something else and the robots did the robots and the they're gonna along the bottom of the ocean and find they will find yeah. And it's it's -- the -- the Air France jetliner right. That enough that was a South America right and it took two years find it and it'll be awhile but they'll they'll find it but it's at its Massachusetts technology. In and Erica I think that's -- snack you know we'll talk a little bit more about later but it really is interesting you know -- of saint. -- for displayed that way. But a half of places that this record around this would be the most difficult find -- this is the deepest part of the emotional was it where it's you know. Parts of the three miles. So it's -- gala at the unfortunate thing is that you know although -- found the Air France plane. You know they're they're down right now to about ten to eleven days in the -- being a possibility. And and then they're gonna it's gonna be a blind search and. So -- question of the day asking you to mean the seven countries that are included in the G-7. -- I don't think that it would you be able and. I was more surprised by countries that works in -- Right then you'd think a deviant I'm gonna help out with the question today that Brazil big economy large -- Couple hundred million people they are not part of the chiefs and it was sort of indicative of South America so it is a relative to their I'm just. Well we don't we have trusted them heavily now only if you would do you think in terms of economies Lar you know billion people India. Is not in energies so. You know I've given away. Countries. Are included in the G-7 if you know the answer text it to us at 68680. -- can also play along with the Sudbury and came -- So. Anyway we had the listener. Who kept asking if we're gonna change to Q&A on the ice and that was not nice and that we would not be doing -- work if I -- If I could take -- probably added that. Ari. A home equity lines of credit. Italy. I look around affordable rates at which to borrow money in and route for high rates. At which to get interest on -- so if you're borrowing money you want a lower rate. In a home equity line of credit through leader bank is available at a rate of only one point 99%. APR that's fixed for the twelve months. And it will be primed for the life of the line there are no closing costs associated with the leader bank home equity line of credit. And let's see the phone number is 78164186716418600. Would you do me a favor. Please let them know when you call this home equity line of credit at one point 99%. Let let them know that you heard advertised on the radio on WRKO or whatever station -- listening to -- on. It's one point 99%. Fix for the first twelve months and it's primed for the life line and it can be up to 300000 dollars there are no closing costs associated. With that home equity line of credit. Phone number again you might wanna write down 781. 6418600. You can call them in what's cool about it him is that he'll take your application right over the -- Right then and there you -- great so let's say you've got home equity line of credit. With Bank of America. In your home equity line credit is that three and a half percent -- percent we'd go to. Leader bank doesn't cost anything it's free. And they lower your rate down to one point 99% APR to -- a deal. Two really good deal 7816418600. If your number to dial. And I think we have our guest is accurate. Our guest is James knew her from Bloomberg news' good morning James Terry. Wanted to talk to you if you don't mind about the the G-7. In and with error with Europe to -- what country's first of more included in the G-7. The United States Canada Japan -- Germany Italy Britain and -- It is obvious question why wouldn't an economy your country like China or India be included -- Brazil for that matter. Well which you have an historic roots in the by the 1970s. That back when China but it wasn't part of the world economy. And the same really went for India as well is basically the club the more advanced industrial. Patients in North America Europe and at the time the only really -- -- escalation nation it was Japan. Then -- If any any thoughts of that group changing its make up given the emergence of China and India and Brazil. Although there already is a a larger. Group called the G-20. Credit steering committee for the world economy that includes. China India the likes of residual. And so. You know I read your article and read others in in the Wall Street Journal it's unclear to me as to what tactics the G-7 will use to sanction Russia. For its behavior in Crimea and in in Ukraine. Well the tactics so far in Europe and the United States has been to impose asset freezes. And travel bands. On important Russian figures the European Union has. Borrower to. Russian politicians. From. -- bank accounts were traveling. To Europe the United States has done. The same with Russian figures also with business people were close to her Russian President Putin. Is it having the desired affect anything -- do they care. Also parties. Are pretty small scale targeted sanctions. And a lot of the targets for example the Russian deputy prime minister. Had no intention of traveling to it's it's you're in the first place. However. International investors have seen some of the writing on the wall out of mobile has fallen by the Russian stock market has fallen. It cost Russia war that you financing its debt. And so you concede these sanctions. As a kind of shot across the ball. As a threat of further sanctions. Assured Russia has committed major Crimea. What day what what is your -- or what do you think is going to happen I give you if you as you look at the situation. Does he get better before it gets worse Surrey you know you've got Russian troops on the border -- where do you see it going. Well currently stalemated in both sides are calculating. Their options Russia -- Started the process of absorbing Crimea. It also receives the cost. Doing that and the further cost that would be imposed if it were to issue. Indeed Russian speaking parts of eastern. And southern Ukraine so we call on in to a kind of -- state. And much will depend on the situation on the ground. In southern. And eastern Ukraine and Russian speaking communities there revolt. And -- an attachment with Russia then. The crisis could well. Become harder harder. These are any indication that'll occur. Are there are mixed signals so far. And one. Important signal that the Russians gave chilling but at least the time being. The don't want them they claim. Two Russian speaking parts of Ukraine is that they did except mission of international observers. Into those areas. Just last week so -- about mission. It is on the ground it will serve as the the eyes and -- of the world. It away. To make sure. Those parts Ukraine remained relatively stable. -- James thanks for the update we appreciate your right your researching your time. That's teams knew -- from Bloomberg and he. I wanna have that it -- read. The reaction from Russia and when it comes to changing this to the G-7. And moving the meeting the foreign minister. Was quoted yesterday -- saying if our western partners believe that this format has outlived its usefulness then so be it. As an experience. We can wait a year maybe even a year and a half to see how the slipped out. So you know they're they're certainly trying to be very cool calm and collected about it. In the meantime some of the sanctions that they're talking about now would be against the banking industry. Talking about the arms industry and the most important things energy industry which -- That's where we can get them and good if if push comes to shop. You know that problems. You've got what twenty countries in the European Union. In the all have to agree. They're gonna sanction -- Europe's. Because they need him for natural gas. But the United States you know do we need -- matter. Really -- me -- not really what we have to stand by our. Our partners or allies and if in their countries if their currencies to -- rate and there are rocks are selling off. Our stocks are selling off our stocks are up the Dow's up a 103 -- in the hell is not hurting us now from a market perspective. I just wonder how much longer. Enemy and they need to be motivated by the same thing in the we're motivated by money. Well we are motivated by money and I think he's motivated by power at this point I think that's real important part of this you know again he's trying to. Regains some of the year is he feels were stolen from. From Russia by town in the end I mean -- people are certainly going to be motivated by money if you're sitting in the air with no food on the table no jobs. That they're going to be -- -- that motivated by as well. You have a text I heard the Avaya trivia question course. Every day we play trivia here on the financial exchange. You can Texas jury answered -- -- gonna pick one of we have six today. But you can initial pick one of those questions and you can text us your answer 68680s. Or -- them. Well we have one that was related to historical we've given away so I'm not going to be that he's am I'm pushover I'm not quite that he. Got that. For an Atlantic. It never talked to our little state yes and -- The home sales -- send anyone rates me I'm gonna for open houses instilled in the last three weeks all of them had lines Al the do. Think -- I think this is the difference and -- this weekend rate is is going to be actually a decent weekend -- in the fifties. That's -- real curious to see how was last weekend for win Saturday it's on Saturday it was good -- it was not. It was a -- user folder it was very cold. Unity. You're less likely to go through. If candidate -- amber I guess fifty degrees and and not raining people love my house decorated that's just one texture. I think so too I really do I think we're gonna see your real difference in the weather changes -- hopes -- to you when we needed you know there's a lot for their. Certainly need to see that difference. All right very I want to do. Here. I I want to this question -- working and -- talk about the story next I'll graduate -- when you can talk about told the story OK so what percentage. Of all. Income tax are paid by Americans over the each of 650. Good question is is -- -- -- a percentage of all income tax. Paid by Americans over the age of 65 -- to access its X 8680. And we want to hear from you the first person who had the correct percentage is gonna win of police. And take on to that story that's popped the next one and we'll do it well tell me about New Hampshire farmers do you do you like the story. I like historic it is a it is -- isn't just I think I just like the idea of farmers' market but. Out really interesting you know up there in New Hampshire what they're trying to do with farmers markets. Is help people who are on food stamps. To participate in farmers' markets. And because it's a lot of benefits that are being cut that kind of thing this is a way to help now when a lot of people think about. Farmer's market at eight. Sort of think it is that is being ordered that delete this kind of thing to do -- -- when it these organically grown. Without. Other expensive and I think that's -- president -- shot yeah I think they probably are. You know I mean it's expensive and your gotten really -- thing you know it's just. Richard outfielder. Whatever the case may be doing is that worked out a program. Where other matching. The dollars that someone spends with food stamps farmers' markets that yes and they're matching those dollars. So what I guess that for farmers markets were huge come up in preacher food stamp voucher and they give you. Their own vouchers to Spain. There at the farmer's market and they think is going to be real success and they -- hoping that it is because a lot of people who -- functioning on food stamps or may be eating as well as they may -- -- kids aren't. This would be means by which to promote that as well. With -- 347. Dollars it took for me a mom and her character and -- eleven dollars per month right. Five dollars and 78 cents per day per person so they're double. So you go to farmers market right double bogey and double the money season seven -- dealt with than usual. What I found unusual unlike Massachusetts in New Hampshire snap benefits cannot be used for hot prepared foods alcohol or cigarettes -- in Massachusetts. Right to use it for strippers you can use them for blues it's -- credit card. Ease of use -- for you you can will you buy lottery tickets in in Massachusetts where is in New Hampshire that's right it's got really. Is for food and it wouldn't novel approach -- testy about -- and you know what I like about this farmer's market idea is that why wouldn't -- and by the way folks. In New Hampshire they're farmers markets -- which. Yes they do that -- indoors. And it's -- really -- well I don't crops from. No I saved. They're selling a lot of things probably. Price at the hands and very possibly so or things that maybe they are getting through some kind of connection with Favre former Commerce, California lesbian those roadside markets -- -- -- -- and so but you know I think of -- like it's while it's that we have won every Sunday. And you go Sunday morning a man seated yes and every what I like about it to very nice here -- I'm looking. At New Hampshire what they offer the offer things like eggs that are raised right here in the state to do the same thing in line and you know home -- apple cider from from. It'll -- and -- -- by doubling the year to and his. A better deal probably and you would like alone most argued that you absolutely are so my point being their -- they exist all winter long so if you're someone who's functioning. On fruits and you really should seek this out because your money's gonna go double. It's that you seek out for the winter and you wait till the spring rolls around they start to happen and you get that he'd be more readily available. Right now I'd be seeking out any place like. Now it's a love that idea. -- coming up we're going to be talking about -- -- ways that Americans are blowing their money and many of them maybe you're doing some of these. Are you were you know it right we have unclaimed tax refunds -- unclaimed property. Now we'll talk about that and we're also -- -- -- paid a little story yes well. Cold -- we have a lot to talk about during the balloting program focused -- -- This is the financial strength. -- change radio network. Times are changing in your retirement plans are changing with that 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 41 K plan with a match you're responsible for planning your -- 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 -- 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 at the moment dot com. 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 plan for instance 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. SI TT. 8552547483. Or go to Web.Com. Slash radio. There was no portrait of him that's an equity what you applies right to take relinquished what it -- and unless otherwise purchased. The experts at Web.Com look 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 better at the moment. 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 equipment that's 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 will continue to provide promotion -- support and maintenance -- -- 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. There was no portrait that's equity what you life right to take relinquished -- -- and unless otherwise purchase. I had to London and if you're 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 and alzheimer's care nursing home. Even important financial information. They had obviously researched every place not just given me names. They Downey plays through which -- could afford and it was magnificent. We're now. Very confident that she's safe and they just helped every step of who can beat 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. Help you if you're struggling to find reliable senior living information for your mom or dad didn't call or go online to get the three help you need during this turbulent time call now 8046775. There. 8046775. There. What would you do and where we deter you just got a phone call from your mom and she tells you that your 83 year old father needs to go into a nursing home hi I'm very -- 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 -- rate of 121000 dollars per month the nursing home is going to wipe out the light savings of your parents and it's not gonna take very long is it. The law firm Cushing -- dole and has written a free report called the top ten reasons to do a state. And you can get your copy by calling 866. 8485699. Now this guy provides detailed information. On the benefits. 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 866. 848. 5699. That's the sound of people throwing out -- old. -- recently installed a unit and was stunned by the difference I had. Say good bye to your. 888964. Way satisfaction guaranteed. Just go to dry house now dot com or call 888964. W eight DE CEO. OK okay. Breaking business news first. -- Armstrong and can carry him on the planet to exchange radio network. -- just told me we're still looking for a winner of our second text question of the. Today what percentage of -- income taxes are paid by Americans -- or the siege. Of 65. If you know the answer that Texas your answer 6680. And I think you have a winner. For the first text question which was this seven countries in the yes yes it's Bryant from lords. And compliance listens regular base in recent thank you very much an -- in those. That looks instructor again quickly it's the US and France Germany. Italy Great Britain chip in and really either you look at an economy like candid with the. In the. There really is thirty million people well. Right I guess as compared to maybe China Brazil Brazil 200 million people. That do the right and it just. But again you know we heard why would leave -- at an old old fashioned organs and national organization. It became the good old boys club. And you were real early is to appear a member opposite end. So on and Vladimir Putin is another member as of now there out he's out your hair. Twenty ways that Americans are belittling their money you know look into respectively yourself as we talk -- you know. They're suggesting that. If you fall into one or more of these categories. And wanna stop the skeptic threw itself. Credit card interest is number one it's. It's a lot of people. They'll pay me like you've got to be in a position don't use your credit here's my advice very very advisories Telus to use your credit card he can't hold aloft at the end here. That's right absolutely. Unclaimed tax reforms. You know I had no idea tight aren't the people will not only with -- him unclaimed tax free funds. On filed tax returns. You know it happens to kids when they first get their first jobs and he'd never filed attack for heart of the 2345. Years sesame walk in here at five years in -- -- five years. In the world cumulatively the worldly twenty they just never knew how to file -- -- for and the Aristide from finding. Eventually it that's when he came down and help them. Course it was probably -- slow on the draw because they were getting money back verses right -- uncles and legally try again. If you -- three years if you -- unclaimed property. You know what we hear this all the time constantly -- NC you know people well. That -- an attorney general's office that is your treasurer yeah after treasurer of the states that puts them out there and. Double check to opt out that had experience with Massachusetts. Where I was on the list rate for unclaimed property. And I went in pursuit -- don't know winners cute you know how many. And then I got a letter from -- private enterprise. Saying -- -- and unclaimed property. And it was -- like -- To -- he has to deal with the wet wipe the treasurer's office that you didn't white light. Oodles and do the government agencies so. I went back to treasurer's office as well actually we were wrong would lead to a -- have because if you do it is like 4400 bucks but what are. Haven't -- Rockford yeah. It's not uncommon. So -- it's it's easy duty and go to the mass treasures web site on line check -- or your state your New Hampshire Rhode Island me. Did they check to see Yemeni property. Yes and immediately texting all that in right now it's detects a unit you know you ask you -- -- -- as an adjustment. Are one of the other problems that fall for the deal sites Mary. 78%. Offered -- and it's. It was a work that to begin -- amber -- and didn't really needed you have to get it within a certain name he did. And annually and actually when I saw the like that. You know this your -- percent. Credit card deals made the trip you just take the words out of timeouts or -- are right what time. I looked at 1 this morning reputable city yeah. And the exit switched and it's 0% for months but -- the fine print it says in charge and up front V 3%. But Mike you hit me and -- -- York you know date that I loved ones that are 0%. Now and then they don't you get into the fine print and that's after sixty days -- was to you know. 18% penalty -- ever you know it's capsule ridiculous and a lot of times these Tar Heels. There every situations where you've purchased something. And you thought it was gonna get the initial whatever and it starts coming on a monthly mean -- and it's -- and to yes out of gas is like. -- negate your you know I don't know what changed magazine subscription. Right don't ever subscribed to a magazine because the world. That's wasted money in your card that tool eternity that's waste money wasted food there's there's one of and do much of that if you get. I'm definitely glad I am excited and it agitated if they ever go to waste our house. Unfortunately. You know -- -- we have our arrogance we Americans. You know where the bottom of the refrigerator corporate. Bad about it like yeah. -- -- -- -- As a hate her church and I know there are people listening who feel the same way I'd hate her she shops always terribly over shop. And then you know you -- -- -- So. Speedy shipping. Panic here yet you don't need it it's very rarely ever need speedy shipping. AT&T'S Newton because you don't go to Euro bank displays and -- He's down doing Ortiz never use cash and cash ST I never vary -- -- a single. Weeks will reach in and -- Designer clothing for babies children. It's used to mediate an end of their first I'd say that our real real quick -- gambling. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- From their institute all point to how about the fact that you very cartilage that your wife falls to -- -- restaurant with another couple. And say it will look for entering the spotless by about -- line to get the bottle of wine in and you realize that tangible that history brought that home. It would have been you know fifteen bucks cheaper -- go to dinner whose legal. Then. He knows -- drive -- and its enterprise editor that's right tobacco. Just don't stop folks it's you know -- Tyson money to back -- -- -- look -- -- All the health -- my client is cardiologist yes so I have my personal car straight. And he told the tobacco seventeen years. Cigarettes for him it's smoky cigars smoked cigars so that's. Why did he. He smokes cigars to it so. Much energy ticket -- at the gates. Unused gift cards that is one that they've got a session that I now. It's. State does not supposed to be. What's deal at a networks do if -- right they do. In at least it's okay unused gym memberships. And it was. -- you're just back two days ago would be to lottery tickets didn't. Off speed traffic tickets. No I didn't even so I can't believe you. We'll have read marquee race Mary yeah I drove the car while I know that's why is that why you guys don't -- -- cries couples over decry. I have been known to show you. That we looked at the troopers are like that's that's my worst nightmare look over their rear view mirror and I don't want it. Crap I have played. It's your wallet out premium cable packages yet. Rip off -- -- -- They're scared. You -- better about them. I don't know what does not icu -- but I mean I don't go I don't go adults up at Dunkin' Donuts every morning for you know. -- -- -- -- -- -- I'll read her husband listening and I don't and that Al wasted energy that's one Leo that's a big as it is and I. Wait to talk to people. In the month and see how much GDP which mortgage pay your winter fuel that you did the previous year did you pay a lot you know what -- -- -- it. I at what we've noticed at our house where it's gonna make a difference in our lives. I'm Brady said we -- gonna have every door in this house the weather stripping -- that kind of -- over the course of the summer. You really notice when it's this cold how much your -- in. Up next David Williamson from the Motley Fool has stock talk coming up will also announce the winner of our second trivia question. That question had been what percentage of all income taxes are paid by Americans over the age of 65. 68680 is our text number. And bury Armstrong. Right here on the financial extra -- on the -- Network. Yes 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 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 Gary Armstrong representative Armstrong advisory group in the securities America companies Aaron affiliated. How what are you doing up on the -- I didn't start as small business to become a health insurance expert I've got a problem the paperwork my employee benefits plus there's that deadline Richardson new plan from like three gazillion options I can't get a more employment and John Ralph. You're an idiot just call advantage benefits dot com what's advantaged benefits. 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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 -- call 1800 Medicare to retorted and go to stop Medicare fraud dot -- To find lots of useful tips and important information. About -- fraud fighting tools that Medicare now has thanks to the health care law. Huge resource is to help law enforcement crackdown 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 home 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 points of protection for free just call protect your home authorized EDT dealer at 18889873232. You'll get 24 hour protection and there's 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 protect your home license numbers called L 18889873232. Follow him on Twitter -- KK -- -- its very -- -- and interrogate. On the financial exchange radio network. All right everybody likes to make money into the time for stock talk now we're joined by David Williamson from the Motley Fool I read his material every day David -- I'd certainly grabbing me. Glad to glad to let's talk about -- site EC YT. It's a 27 dollar stock I wish -- called you an hour ago because it's up almost 3% this morning. Well you're gonna really what you call me about it because they're a good result 90% in a single day last week but I well I yeah I -- But I don't think it has a lot of room to run even after this I mean it was it was a classic Biotech in the double after a successful -- -- clinical trial. -- the -- lighted on cancer. The drug when combined with chemotherapy reduced. Progression or derive our increase for a -- survival and overall survival by 25%. It also on that Dave he could use out indeed the view. Been deployed with the room. For ovarian cancers -- -- it all the price target jumped Q about it but good news. Paper Jeffords put it up to thirty hectares in that they're currently around 28 to date right hyper he's upside again. July to the drug with. Blockbuster potential has improved in both the human year. The market cap is in getting roughly a billion though. You know -- you'd still command just from that approval there along regardless of what the FDA does here that the only time -- he hailed him. And that -- that it docked at the one trick pony either. It has obviously it was a very cancers. I can't Trout at least three here in the US the lung cancer within these cute it was two more cancer indications -- in the polite but also. Two other drugs in early in the states development. And if you're thinking buyout which you know New York buried yet because the local -- They have a big pharma partner already -- And there's that. -- -- that stroke with Merck well you know Merck paid a lot of money for the struck a 120 million up front and could pay up to 800 in eighty million dollars this year milestones are met. With this star products so it's if they're paying them billion dollars for the drug use by a company well I think he's a blockbuster sale. You know that rivals what Johnson Johnson gave optical expert -- that go to the blood cancer drug. That scene -- the six to seven billion a year in -- -- product now I'm not saying that the sport has that kind of potential yeah. But it is an extremely here. Commitment where -- -- of what -- isn't you know. Are a couple. Of -- on did you have an island GI LD does that Gilead Sciences or would we to go. I wanted Q -- do right. Larger sell off that at least -- in Biotech -- -- lot -- -- there's there's been a lot of talked about a Biotech bubble right in the market -- -- you know the iShares NASDAQ Biotech index pulled off 3% yesterday it's been about. It's been down 12% the secret to literally -- -- a month ago. Investors are understandably concerned you know anti that the sole lead to a steeper decline and I you'd think there is. Ballot -- -- third validity of speculation helped forty expired electrocuted when he or he 25 -- already that you're limited company don't even have -- is that he's on but. You know it's a form more focused on the long term buy and hold investing. First you know repatriating in the so awful get investors get a chance -- get in. You companies -- strong underlying businesses that will provide an elephant because of that. I continue to like Iliad and LG. They both off about 14%. That -- a month ago. Juliette getting a lot of respect politically. Especially from Democrats on Capitol Hill over there at the plate as he wrote the -- Because at 84000 dollars which. -- is significantly more than the current period but it is also significantly better than the current treatment. Yeah I know the -- and neither one of those. No dividends but they have a lot of approved drug and -- keep cranking out except one drug did just received approval for Portland or attic or right at. It had very probable that drug you moderate to -- back. You know those integrated expanding into additional indications that would interpret that in different though. -- -- -- -- -- -- -- their companies that. Have. You know strong drug already on building of strong pipeline and you know serve their evaluations are out of whack to it there is a Bobble in Biotech. Companies may get pulled off. Without actual. About these aren't that all -- -- more into. Just overall lot of IPOs this week greater than in 1990 -- a -- This has been it's been a busy -- I think you know on and rightly so management of these huge companies he does is the -- Cuba getting equal time. I think there was a lot of buildup. You know I -- right a bit of a backlog in the -- -- on the market a week ago. Period David thanks for your time. -- we haven't yet finished fourteen work on that flight 1990 yes yeah it's crazy. It's real interest -- wants to keep our next. Weaker so I'm debate what is keen on. You have this -- to leave. It there IPOs are starting now this can be big year for a you know back in the nineties -- may not remember that. In 96 was of the -- in 97 was 90992000. You'd -- -- companies Google -- got an annual so what happens along side you have a lot of mini Bertuzzi and pressure so. I don't know a lot of people are in the party's over. When you have a lot of IPOs. Instantly meaning there's a lot of appetite that's an indication a lot of appetite for rests in Islam between mattresses right. Answer. People do. Here. We will announce the winner of our last trivia question in a moment stay -- Breaking business news first Jerry Armstrong. RKO Cartoon Network. Effect and we met became in an epiphany and was -- He informed me kissing you know there's this vehicle which. God did use to break my life together. And that is powerful pop thing. My name is -- NN that my husband today and cut spending now joined Christian legal dot com today and find God's not -- 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 for 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 provide safety and interest is high -- 6% just may be perfect what you're trying to do I'm Derek -- 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 chopped up in my book as a loss turn the page on low interest rates but thousands of new englanders have done over the last few years. A look forward to helping you -- call 5085915444. That's 5085915444. Paid Kelly so we -- degree Nelson who would just -- here jamaat I got your newsletter pretty fancy photos coupons to and was it. Hold melons silly I -- -- can't have really Constant Contact dot com it's so easy they make me look like a million bucks and emails -- really work. Oh yeah they got you when he today did. -- Constant Contact dot com -- plans as low as fifteen dollars a month with a free sixty day trial. Text your questions or comments -- 68680. You're listening to Barry Armstrong and Ken Kerrigan. On the financial exchange radio network. Couple housekeeping items him folks are looking for the symbols for the stocks are talking about -- EC YT. Is the end a site that stock Merck and mark cage -- was GI LD. In Celgene was CE LG we do not recommend stocks we talk about the moment and our commitment. Sometimes our. Reporters will turn that they like them that's okay decision you have to make it and then somebody else looking for that leader bank phone number -- -- had a good deal on the home equity and yes their phone number 7816418600. -- -- they're such by the way there they're such as excellent seven right in its history this. Right now my husband is freaking me out doesn't -- mining or oil for the season. -- -- We understand it's I went out -- at the end there and I say later the good news after the next 2448. Hours were gonna get up in the fifties during the day hopefully that can help with all but there will be -- it -- Saturday rock guys. Our question this hour was what percentage of all income tax paid by Americans over the age of 65. Edge and it at the right answers she's from march -- answer to. -- -- when we come back east office. And the Boston. Nobody the Condo. This seems like everywhere you look right behind these weren't as Erik's. -- 4000 dollars a month. For a one bedroom apartment I I can't see them. -- your favorite news photos and sports updates on your phone -- 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 loosely allied and from financial focus tune in each morning from eight to nine right here and AM 11:20 am thirteen ninety. And that money matters boston.com. 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 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. Some nights I can't get to sleep some nights I can't seriously if you -- some I can do both. You do some sleep -- are clinically proven to help you fall asleep 33% faster and keep -- -- longer on T 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 answer in the other -- giving you this week you need to wake up ready to go. You know some sleep just fall asleep faster sleep longer. It's very Armstrong here with your financial exchange quick tip of the day. Joining me is -- Greg wire from SHP financial. There 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. -- the yield on the 10 year treasury this morning was about two point 61%. -- If you went out and bought a ten year treasury bond very safe investment while you're getting is two point 6% on your money taxable. The next ten years how can a listener use a structured settlement as -- as opposed to using a ten year treasury or any other type of bond. -- 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 that. You're -- by purchasing a structure settlement transfer the able to achieve a fixed rate of return. In the range of four -- five in 6% depending on the length of time -- American and a ten year treasury. Exactly so if you're concerned about interest rates -- only in it 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. Where 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 and some of those bond funds are invested in. 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. 591. 5444. 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For people who seek and expect excellence. It's 3 AM you guys really are always there for me -- when you -- seven that's like better than my mother -- This is the extent. To duck takes to. Text you know Kristin please -- Monthly -- pop up following. Top. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Trying to sell your old car instead don't major vehicle to heritage for the blind to pick up these -- and your donation is tax deductible just call 1808958035. 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. That's 1808958035. Well its hold on your checkbooks and give her portfolio's break. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- What a difference of what our can make him when we opened the program the Dow is up over a hundred points now -- itself. Gives I thought yeah it's interesting too when it opened today. Over 800 for -- hundred or so I don't know what's. What's going on their -- with the thinking that -- The market better keep going -- of people -- afford to pay those rents that are going on in the city we're we're joined by Casey -- And I didn't date and was shocked when I read the article teach your roster in the Boston Globe DC -- things. Good good so I I was reading -- who. The -- is at the globe are you renting these apartments that are 4000 bucks a month. I know -- didn't quite the journalists out of it doesn't like support that at least. Well a lot of young professionals who are you know moving into the city or getting paid pretty well some of these that companies they're moving in like Vertex Pharmaceuticals and a lot of others like that. Yes so. At least indeed developers believe that there are plenty of demand among. Young people and other professionals do you know have the money to turn around he's kind of larger units. How many the units are they building -- he covered this in the story but in the next three years. How many luxury apartment buildings are are being constructed in the city. And 8000 units overall which historically has an astounding amount of supply for Boston. Since 1960. Between nineteenth sixteenth 2010. The city produced. Who roughly 7500. Of these luxury units at a large building in the next three years sort of a double that more than double. Is adjustment to a comedy team you'll be an empty Nester and I think that's probably part of it but I think a lot of it has to do doesn't it. A Casey like you said with these companies that are hiring in this is what these young people looking for. Absolutely I mean in this it's both young people and -- investors bet. If you look at Boston it's a real estate perspective it's just been changing dramatically I mean a lot of new companies are moving into the city. Just look around on the street titans are -- -- -- to be twenty places to eat downtown now there's you know several hundred. -- it's changing a lot. -- -- -- -- -- I am from what you wrote right isn't it 4000 bucks a month for one better. Put out embarked on one betterment at some of these places yes and most of us as a matter of fact. You -- have -- related to an immigrant case sure. You have to make its money -- answer that -- and that's -- question how deep is that market how many people are making that amount of money you know also in a position where they're transient. The that they had an apartment as opposed it in right buying a Condo or buying. You know piece of property. Casey did point out that there's been at a population increase in Boston. I. Yeah I mean it's been going up pretty that I -- steadily actually which we haven't seen this kind of increase in population since the 1960s. Over the past few years population -- up. Three point 1% 636000. People now live in this committee and that population is growing so. You know there is -- out there that there is demand but he's got a unit net you know and Boston. Historically has been under supply of apartments that's -- the rats are so why. So yes so -- went that women are down -- not. Right right. I did a lot of that has to do with factories in college kids here but they aren't the ones in the market for this kind of. Surprise a lot of foreign kids coming around him they make the least it's from the Middle East surely come in and their parents why the condos and buy them apartments. That are out rate you know like give them more than two action and those. Casey on on that. Note -- you wrote -- you know 8000 apartments how many of these will change midstream from apartments condos I talked to a banker and he said the only reason they could get the only way they could get the financing. Was to go apartments and in their switch and after a year or six months and they're going Condo. Yet that's something that we can watch that closely I think you're gonna get them out of that because. The Condo market and and Boston it's kind of white hot right now they're just is that a tremendous demand there and there's been no its supply of condominiums built. And I would imagine -- these developers -- an opportunity to make more money by converting -- -- Like given that demand there's just not a lot of product available for sale on Boston right now -- Everybody is on the market right now knows there's no way you get one of the -- that -- you. You know at -- you've been over the asking price. What's the had a deal -- development they -- Butte Boston's South Boston. We're hearing about summer will be yet becoming hot what about East Boston. -- Boston waterfront as it. Getting a lot of develop proposals that scenario that people. In the mid ninety's that sort of predicted that this is gonna be the next spot and then nothing happened. It is happening now a lot of developers are buying. Projects out there and they are moving forward with construction now a couple of projects under way. In a note to others that are planned in -- appears to be getting ready to start seeing and so that area is changing pretty quickly. -- by the airport knew he had those damn planes flying. But how dependent this evidence you have -- spent any time I went to bitch. If you do if you ever been out there that that's where it's really tough spot then I actually the little maverick square it's not that at this point traffic doesn't bother you that much doesn't. Now depends on where you are. Cut it. So EE you you're you're of the opinion based on what you wrote anyway I think that this is gonna continue for. So I don't have opinion that this. Yeah. Covers the estimate yes I think that there is a lot of momentum in the market I think we're gonna be a lot more building activity become could I just I think the money. They get is open and I think. Developers are you know jumping in with both feet. And the mayor policies he school district. And -- there hasn't been approved and just took office. Because almost everything was approved and the last three months atomic you know yeah. Five years or the approvals and -- -- So everybody would vote. You know jumped -- is anticipating that there are many people who are in the transition to the new mayor so far there don't appear to be a rock but so much got to prove that. That stuff but when you know without -- doing a thing can can continue to happen. Be gentle but they hit it seems that you know he's close to the unions and he seems to be pro development. -- it have you gotten a sense of -- yet regardless press conferences. I think he has absolutely want to do a lot of the development activity moving forward. You know he is from the unions and those people -- a benefit from a lack of construction and they want more and so does the matter I have no doubt about that but at the same time. Yeah we are going to be RA and the entire economic development arm. And it's really hard to keep the activity going when that agency is you know in the state of -- I think that those two competing priorities of Hitler running into each other that. Well eight in the opening for -- -- thanks for your time I met Casey Ross Boston Globe. One of the things he said that I think really make sense about one thing. A lot of these turn -- condos the idea at this transient. Employee I don't believe in a lot of these people are a lot of these are probably people working their way captures. You know these companies one less day you know -- hefty salary comfortable like it. So I think they'll be more interest in buying condos -- and it ain't gonna raise your fame in the city. And you accuse that your young scientists -- in tax you're young program worked in grew. -- elected. As young and into a chair -- I get married your wife gets pregnant. You say yourself its suburbs well maybe at that point you do that I mean you know if you're young guys. Young guy young woman. And when I say young you're 27 years old -- -- that deep into a career and anxious start feeling anyway you'd combined city in your stay at work on the career for one -- I just I envision that a lot of these units will become condos I just think it's really tough to convince. 8000 people. That unit to consumer 8000 units at. 2504000. Dollars for the house. It just. Does not deductible. Did you see what they're most of these units what they're expecting 24 month -- you know. And doubled down on year deposit so you know -- you're looking at 8000 bucks up front just Gideon. As your advisor I don't I say don't do that as soon you will -- and there are right now trivia question. What was the population of Boston at the end of 2012. You know the answer to that question text the answer to a 68680. Is our -- -- What was the population of the city of Boston at the end of 2012. 68680. Is our text number and I have an announcement as a relates to your investment portfolio. You know I was talking to somebody. While on vacation so how much do you have invested is there asks me questions about investments is -- happens all the time when -- go to -- -- -- -- Why is there actually questions about their portfolios and their returns and they were happy with nurtures a -- how much do you have invested in financial stocks while I don't know. How much do you have invested in pharmaceutical I don't. How much you paying an expense as well I don't know. You know here's my suggestion. It's time for you to get a second opinion. As it relates to your best that you should know how much you have invested in various sectors of the stock market. You should know how much your pain in expenses you should know what the babies -- at the level of risk associated with your investment portfolio. If you would like a free report if you would like a second opinion I want you to call this toll free phone number 8668106422. Call 8668106422. You will learn. How to analyze your investment portfolio how much do you have invested in the energy sector for instance how much do you have invested in technology. You heard suspicion that there might be a bubble created in Biotech stocks well we'll tell you how much is in if your portfolios in that but malicious. Sector of the economy Hamachi pain and expenses it's all contained in the guide 866810. 6422. Is the number that you should call to find out. -- Your portfolio was doing white's performance -- it's not performing 8668106422. Right -- we we talked about. Hmmm what percentage of taxes are being -- I talk about story with let's let's talk a little bit about that is fascinating to see. It young people don't pay a lot of income. -- right nearly half of all tax filers -- one -- over the age of 45. And they're paying a lion share of the federal income tax revenue 74%. Of it in 2011. And that was up from 61%. In 97 that's shock. -- you think about it being in. It 1516 years ago. People in that -- over 45 only paid 61%. Now it's 74%. That's a staggering number 55 to 65 year olds today. That that number rose 9%. In that category. So they're paying huge shock median income for people 55 to 65 highest adjusted gross income was 1859. If the -- your 55 to make human. Yeah I read it. If they're you know kind of I don't know quite an amateur -- -- I don't go back. I'd let that -- -- at at at at at the EPA has vehemently letting these guys. How ID Ford. Is putting a car. On top of the apart I thank. -- I have they're still trying to figure out at at. They're gonna put a convertible. Mustang out on top in the empire state -- -- but -- knee. Evidently he -- Let me get a board on top of the pressure building and I let a woman parallel market. -- I used to live in Manhattan I actually had a total stranger -- -- on the site locally each used as a -- -- as the alternate history and she asked me to Parker -- -- so she. Should hear what your company did. -- driveway just for the and that I blocked yeah. The island park that watched -- 56. Seven crowd gathering to me that it looked like he leased New York of the group an apartment that's how you do it that -- -- well listen I'm iron on -- updated its fifth fiftieth anniversary. The most. Technically 64. Make no real ill and so -- what did they did it 65. Put to open three pieces. And. And I guess are you settled when they got up there about it to that's fifteen. Their seven inches longer. Their four inches wider than that card that they took up -- so they're not going to be able to hide -- So calm day into speaker put in an elevator but he is gonna go up the elevator. Sort of chunk pieces you know probably going up with tires or whatever but it's a -- uses an emotional yeah. But -- its act and it's different at first -- thought to myself. -- -- -- -- -- -- -- -- -- -- yeah he -- Loyal query that the dramatic. If they brought a little bit. Now they brought it over the Empire State Building and -- -- that that's you know you need we your targets delivered by helicopter that you'd you'd need to date. I should say so -- -- antsy when it's going to be there. Visitors -- -- the new mustang convertible on the observation deck for 54 hours from eating at 2 AM April 16 and seventeenth. -- -- What's going on with our -- this ties in the story about the botched connector -- site. Its ties in with -- Massachusetts is faring in terms of the bomb here just yet we are the worst in the country fifty. Where number fifty as we as we started in worse yet it would look at it is we're number one. We are the worst it makes us the best here's what do what I like is amazing about that flip it over -- look at the best states the top three states. That have signed up the most people the suit they are now built like a lot while Connecticut. Rhode Island New Hampshire -- and though when we say the best. They are exceeding. With the C a -- had rejected is that correct. Yes. This -- projections for example for Connecticut were 26400. And they're 57400. Rhode Island -- 96 about 9600 projected pact comes in 181009. To New Hampshire 151200. And in fact now I don't sit screens here -- I can't read where we are here are needed in Massachusetts. We are projected 200000. And where at 121009. -- Is bogus too we don't have a single person's actually signed up through the connectors is that right right right we had a race sixteen million dollars is for people with type in my hand as what it is this photographers are now coming in Massachusetts up -- Industry that we thought died in the 1970s I wanted to ask easily -- up Scott Brown -- New Hampshire in New Hampshire. Clearly. A larger number of people signing up for this thing he's going up against Shaheen and I saw -- -- this morning. It's said he didn't have a -- opening -- being Europe there lately what a year here you're Republican operative. The New Hampshire. Election for -- and it's all about whether or not they can nationalize if they turn into a referendum on where the country is obamacare has got round as well yeah it's a local issues election and it's not. Scott Brown is who has to go through primary he's gonna get beaten up a lot the primary on the right senator Bob Smith former US senators running analyst and yet -- -- that -- -- -- back from Florida where he would run for office. You come back and -- I don't grow candidates up there I am not but he's gonna get hammered on the on the right that's that could help Scott -- that would cause moderate. People to say he must not yet you know how hard writer because our writers hate -- lets all nationalize the election of the words if they can do. Make a referendum on Obama it doesn't matter that Scott Brown received -- could be. Can -- verses -- Mary's -- I wanna vote against Obama that tellingly it's the bad news is. That Scott Brown spends three million dollars in the Boston media market to send that message. It helps nationalize the Massachusetts election which kills every Republican here because in Massachusetts obamacare president -- bravery populace again. Completely opposite again -- how can Obama -- be popular in Massachusetts Wendell and it on the right I will low information voters -- the left of people who don't know a lot of what's going on in the lot a lot of people in Massachusetts need obamacare Artie can't get up again. What is the people's affecting as a relatively small number as we already had very high. Insurance rates. People and that's it -- in 2010. We were one of two states that the tidal -- you didn't break here. Get a strong democratic machine you've got people who are willing to put their ideology ahead of their own good they are willing to say I agree it's not working I agree it's terrible but my team did it in their very strong team play New Hampshire. They're bipolar they vote all Republican won election and all and ever apparently every voter in New Hampshire is a woman. And I show you don't know what they're Kennedy and I kind of effort. Good to know now you know I feel like I think that I can have your Mike cut off and he's I'm happy -- I don't. So that's the that's -- Jennifer Scott -- he does not want people voting on power might potholes in -- wasn't right -- right -- are you ready to thrown out if that's what happens you'll probably see both congressional seats go Republican again as they did in 2000. That -- -- with their mid term yet it's more anti seizure and nationalized in mid term elections because fewer people show up it's more of your basement -- -- -- vote which once again. In message to people I -- because I'm Republican people say we. Don't because we cannot agree to you you really -- it's not that people. You know I said earlier low information voters if this truly ideologically motivated in Massachusetts were talking about progressive income tax. The people were pushing it are the people who are likely to pay the progressive income tax -- don't know study shows that 20%. Of the taxpayers of Massachusetts say. 80% of the tax bill by themselves right noting that should worry money people like you buried in new report out from the McCain a -- that we're 47 insolvency in Massachusetts despite having three tax hikes normally we have tax likely to Wilkes. We're paying our bills right raising taxes and not paying her bills but you asked average masters voter how they feel about the fact or at least that is terrible numbers. As long as Democrats running its okay its ideology first and that's that's they way to run a state that's not how I would run but that's a -- that's what happens. Our answer will go on full circle him out the CG. Right that's union magnetic Patrick who put together with the date. Adapted it allegedly an 84 you know yes. Mike. This can't trust him that's for archer now. CGI's the one who came -- to -- for obamacare the -- And it just didn't -- as as -- moment we. And you what -- absolutely right you know those 121000 people who have. Signed up for obamacare that didn't sign up to connect they had to go -- atrocious it's atrocious it's horrible. So Ossetia has been fired. But they are firing back now. Because you know obviously -- and it just take it slowing down in saint in -- to really. They did make some really interesting point they said. That ticket there was infighting indecision ineptitude. When it comes to the executive office. And Health Department the year in the state. And I don't find it. Arguably I don't either an actual act Tony if you block the pioneer institute took a look at this that's outside. In consulting firm but it took a look at it and said. Both sides of this are to blame the administration did a terrible job as did CG. So now the question is just who's gonna clean up and it's generally comes down to that in a blue route and a lot of money was discussing the engine and -- of course. From person. Ari when we come back we're gonna talk about payday loans right there that that's the the topic was out on that junket next thing to -- To exchange radio network. Investors searching for relatively low risk investments that can easily be converted into cash often turn to certificates of deposits 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 a one point 25% -- call 7816463900. 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Yeah. -- -- All the best in business is right here -- stroke and can carry him. Although financial exchange radio network. People go to our interview or question that we're looking for an answer to it. What was the population of Boston at the end of 2012. You know the answer to that question please text it to -- at 68680. Payday loans. I ice -- -- you and I am really surprised and I just didn't realize. This was such a big business I really argue that and -- tell us a little bit more about the and that study that was done. Is the director of Consumer Financial Protection Bureau this is Richard quarter in it thank you search for joining us today. So I am I'm sure you just heard me say I just I really did not realize that this is such a big business. It is a big business it operates in about 37 states about thirteen have effective. Limits on it and it is a multi billion dollar business across this country with them millions. -- consumers making use -- payday loans. Now this is something that big banks have been forced to get out of is that correct and he's a privately owned entities. Yes. That that banks had there -- about -- -- banks for rough from similar products most of them have retreated from that products in the wake regulatory pressure for the past year. Leaving the field at the non bank cut it it lenders. Who who again. Our car access in May its customers and there's also online which is -- markets -- -- -- This is a situation where people. Go in maybe borrow for fourteen days. At a really high interest rates that correct. Yep that's a promise and -- of these products are marketed its short term emergency products eat it and get the money need to keep it out. What we're finding in the study were released and stage shows is that irked many many people. Eating and eating out is not a realistic option and they seem that way into getting stuck in the cycle. More than half of the eighty -- made this country are made to people who are in allowance sequence last seven months or more which means that they want the -- more in fees. More entities than the total amount that they are to begin. It's unbelievable so can you may be cut break that down for dollar for dollar what we're talking about let's say. Someone goes in they are a hundred dollars for a month because they're short on their -- -- Typically don't have to pay fifteen dollar see this will announce who interest rates that are and sticker -- and yearly basis. Something like 390%. Is not uncommon on the Internet loans can range as high as 500%. You know greater interest when you. -- -- -- And the rates. Richard Otto he's had these lenders ensure that they're gonna get paid they -- -- -- get direct deposit with a person's checker -- they know -- -- and get their money. A couple of different mechanisms one yes they were required -- to creep -- intimate checked that book and do after their next eight days. That you use this -- and cashed the check system is that they do right. And -- -- eight and a folding of the winter very vigorous forms of debt collection that we it's in another is to get the consumers and sent you can direct access they're out. That's dipped which took a lot of online -- then the epic it under control when the money and that -- -- -- And -- that means you insult the ability to budget and if you -- on the architecture rent you can't do it. In your stock so that it's very problematic for the consumer particularly if the loan terms that he won that they don't easily it and about it. But into the role in Oakland we found that four out of five. Eighty borrowers roles are reduced their loan within fourteen days. And -- anything about it that's illegal. Well it. -- some states by low interest rates -- in other states it is. Sometimes no holds -- sometimes regulated to a certain degree. -- -- Internet lending when you're not licensed in the state is -- illegal. Under the state law and we have been pursuing some actions in this case as. But a much that this is illegal and one of the things that consumer finance text voters considered this whether there should be prepared regulations to. Make this product. Let's harmful to consumers. So what do you suggest consumers who maybe -- thinking about using this kind of product. I think accurate if uranium. Credit union members are often other products available EU cheap rate. You may also be able to put some. It gets -- send your credit cards which people are reluctant. Do because they nearly an eight what you like high rate of interest twenty meters or eighteen or twenty or 36%. But you know appeals in comparison to a 390%. Or 540%. At any -- on. They're there's also being the option trying to saint and it'll it'll at that so that when you run into a crisis and an. Many people do you know corporate Stanford they have an unexpected that doctors -- that they kept the eight. Having a bit at the collection but a rainy day and this is really Smart -- important things to do. Not so easy to -- -- did you bet they focus on it then and really try to edit it that that they protect themselves that's a good wait -- Problem I think information is an important part to people just need to understand talking about the -- the dollars and cents. Odds of this report is really important for a lot of people which corporate thank you so much sir for joining us appreciate. -- He's these are understand these units he PD listeners in wells now right well. -- used this term. Overly at this rate there sort of preying on individuals for in just down on their lock anyway and in the situation is bad. I'm sure that for the director it's not easy to say part of my advice is to take -- to answer -- credit cart. Mean nobody wants to take an advance -- -- -- better then what is going on here. Here's the problem. These -- people that are getting these ideals of national hypocrite or think it correctly that people that have these ideals can they often don't have. Like if you -- Have you been to the Bronx. I have the nets were they -- it -- and -- seamless -- Anderson downtown areas and inner city. And and you know to save a grade. It's a business transaction right right they say I'm not sure that's right term but. You don't have to use them right if you just you know get your head together. And police -- a position where you don't have to be assured him we you know looking for an audience. And that's. You know you're looking for a loan rate that those of the terms and stuff that is. Hey did you ID guess a winner on most recent treatment I did OK so -- did you get the answer. 636000. Is the population of Boston at the end of 2000 I was up three point something percent -- and Alex's which it's. Casting day database. Our winner from stone and he drives his car for business and -- -- -- drive and we very much appreciate it -- -- is -- very good. When we come back Google glass is getting a make over will talk about that and more. And. -- arms are right here on the financial exchange on the WRKO. Radio networks. The experts at Web.Com what to build your business a successful website for free just like they did for these Web.Com customers we've used -- in look 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 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 take -- 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. There was no portrait of him that's an equity over the place right to the tech relinquished what cancellation unless otherwise purchase. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Hi I'm dying -- -- I'm a senior Medicare patrol volunteer. -- 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 a free medical equipment or services watch out. If it sounds too good to be true it probably -- call 1800 Medicare to retorted and go to stop Medicare fraud dot gov. 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. Huge resource is to help law enforcement cracked down on criminals and return tax Payer dollars to the Medicare trust fund. 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. 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 -- on Twitter at Barry -- Armstrong. It's Barry Armstrong and interrogated on the financial exchange radio that. Here he told us today about something purchase so tell us about that credit card. It was divided so it's not out -- rocket ship until the summer. But it basically is the size of an actual credit -- and what you do is you put an app on your phone actually comes with a credit card reader that you plugin and you -- all your -- It stores all of your credit cards that's including debit card including gift cards. Everything went to one individual card so the steps of the you do the magnetic strip on the back up so in the what you do on that card you have you select which gift card you want to use minor much changed somehow and correspond to that extra. Do you financial -- accident. It's gonna retail for a hundred dollars but if you back in early on its face -- will be cheaper yeah but the problem with that. Is it only -- two years just because of the size and it they can't you can't fit a battery in there to you know or you can't. To recharge and they think that just wouldn't work so that you. Just to help me out here tonight. Get that card in and slipped it in the back in my filled somehow so not -- wall because you really think about I carry wall -- make -- five or six credit and figure out morning and my BJ's membership my AAR PI can get all my car a teacher I must have. A Betty I've got no less. In ten different magnetic strip -- you're you're BJ's card's stuff like that probably wouldn't work -- statements -- that's their punishment or you can maybe it would need a -- I'm sorry -- land and now. Yeah but anything that has -- strip on the back -- go get one of those cases for your iPhone has though holder I want one of those a lot of people put their credit cards and. Yeah those enemy -- wrong and you only need one. -- yankees right and that's exactly yet I this is a really neat concept I liked -- a lot. And yet some stores are up and argued for that thing. They're sort of to. Individual on retailers are over her doing it they want individual retailers that are playing around with just. We get up your phone you that we just on your following Dunkin' Donuts that that would that you've skated with some some retailers they know you're there -- on technology and walking up with your phone on -- Use. So you'll be able to you know idea of you -- your driver's license. My daughter we -- to scuba dive in and she just took a picture or scuba card I have card in my wallet right east of the picture showed that to the dive shop. It's an act like that so that's coming out a driver switch everything everything will be on your full right. And you'll you'll take your phone affected thing scan it into the ticket. Are just charge right straight to your phone. As it right back or about the court has got up. I just curious is that that technology sounded cool. And this global glass technology -- redo the gotten because I've seen them on television. And I -- on capitol where they're ugly as sin. I think this is gonna turn out to be the biggest wearable. Going and certainly the first when people are actually by David and I totally off on this and the reason is because Google is get this -- art. They're they're linking up with -- band and Oakley. So they're gonna make fashionable glasses. With the Google. Going to be a lot of people are going to be the only people use that as they did you -- ugly in England where do -- dude that how -- me. Make me. More efficient why well why do -- try -- number one you can drive this miners. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And you any deal pitcher email for you you can taught you could send a text message driving in the car. I can't say you know date from going to be a little bit later -- in traffic. Sent and it would sent today I'd never too leniently than. Right yeah you know like I know I can't I've got a phone call right it's not it's not fall. Not know the blue glass can't -- actually be able to with like Google Voice when you're connected to Wi-Fi and -- -- or get -- -- car yeah all right yeah talk to your opponents say but it won't -- him it would be connected to yourself point 1%. You have to then go to decent and if that Skype right you have to do and other. Well I gotta tell you where I think is really. Forget that one of the first. Interviews that I've participated in on this show was the professor here in Massachusetts who was one of the tests. And remember. He was a tester for Google glasses. And he said what he loved about it as a professor or as any kind of teacher. Is that you could be in front of a lecture hall and be looking things up and have more information at your disposal standing in front election -- I'm guessing you'll -- where Google blast went to the bars. I should not do you will be of the weird and clot from me I would that he. -- -- -- straight you're not going to be wearing to class VT. But. I think they I think -- Google has gotten Smart and they've realized that where their great weaknesses associated with it because armament that professor told us. He chart where it out in public and he said people just -- -- -- like it -- that badly because it was. Big and Amy QQBR. AE are being used against big. Cluster. -- -- your best yet big chip out on the left. I would think would be bad for your vision the -- -- draw your picture up to capture so she said that that was that. Real drawback about it at that point -- now if you link up with the likes of fashion designer and and you put him in something it's fashionable good looking people -- players to Wear bright and a lot of -- -- and that's re ban. -- Oakley with -- made by the same company. Only use that would he had of these things. Is literally sitting on the beach because I don't like to sit on -- beach and have my cellphone artistic I don't wanna get dirty and point drop in the standard and reminded Vito I can't have a feeling I'd feel comfortable -- That's just me. And you need to get you need to get I don't like that I'd like voice recognition Buick -- -- -- I don't like saying like series looked up this that's not like that I want everything on one device on the. Well I think I I think I'd be OK with that but it -- carried around and like music. Like that I'd I'd talk to. Our eight well there you -- -- theory it's going to be really expensive. Finally wants to know why mind member of BP. America I remember me or even a discount. I get us out. Very it's the fact I'd get it when I rent a car I get a discount thanks -- -- Breaking business news first there are sort of. -- Cartoon Network and the pace and we met he came in and affecting them was wow. 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Or visit leader bank dot com there are no closing costs as long as you keep -- minimum balance of at least 25000 dollars for ninety days 720 minimum like 080% Mac's loan to value -- only one to two unit owner occupied single family properties 350 dollar termination -- if paid off within one year subject to credit approval member FDIC equal housing lender and MLS 4492 fighter. Hey Kelly so -- hard degree Nelson who would just me here jamaat I got your newsletter pretty fancy photos coupons c'mon is it. Hole knowing -- I these Constant Contact and really. Constant Contact dot com hello easy they make me look like a million bucks an emails -- really work oh yeah they got you. Today didn't trichet. Constant Contact dot com plans as low as fifteen dollars a month with a free sixty day trial. Tebow with the latest in business all day by -- in the financial exchange on FaceBook it's Barry Armstrong and gene Kerrigan. On the financial exchange radioed Edwards. -- time for a couple local stories came genetics. You phonetic actually provides like com. Blood collection kits -- and they provide a lot of those for the Red Cross one point eight million of them in fact. Turns out direct costs -- somebody else so this is going to be a real hit to their bottom line. Companies can lose about ten. What does it say a lost 25 million dollars in. Here a year. And it's a local company would Braintree maybe some like Pasadena down at 4% today at 3294. That's you know what that's every CEOs primary care mechanic began a big -- -- -- back out.