Full Show 2-15-18

01:51:28

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This is the financial exchange with the very Armstrong and sharks are now. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck son. Reportedly Donald Trump is endorsing a tax. Increase on the price of gasoline we're talk about that during. The early segment of our show and we also have a story relating to a blood test they can now be done. To detect concussions. Hi everybody it's Berrian truck with you here on a Thursday morning in. Clearly our lead story today I think by any measure is the trump administration's. Plan and endorsement of me 25 cent. Hike in gas tax to paper the infrastructure plan there does seem to be some debate though. As to whether or not he said he 25 cent increase in the tax or raising the tax to 25 cents per gal. It seems I did some digging on this this morning just because the the headline number sounds. Would like something that you wouldn't necessarily hear coming from him yet. But it sounds like he's actually talking about a 25 cent hike and in this is something. That I know the chamber of commerce is actually command said look we need to do this over the next five years you don't do it all once. But he do 51 a duel in the economy tot. You you you've got the hottest economy we've had and tenure in what are you could do it this year you do you bang it out now down right. Think about how much work or how much money is centuries to me the you do 25 cents. A bomb on gas DD 25 cents on diesel. You would have the money to redo bridges roads. You've had the money to re work on your public transportation and you've had the money to work on your airport yet. It would effectively. The the gas and diesel taxes combined three somewhere depends on the exact year in the in the exact usage. But somewhere in the ballpark of 35 to forty billion dollars each year so. If you added this 25 cents gal. Increased under that you're talking about going for mere 35 to forty billion year. Up to close to a hundred billion dollars a year sued generates probably an extra 5560. Billion dollars a year. We could do with that truck as you could say okay we're gonna keep some of that. As the federal government and reduce things like route 95 is that a federal hi yeah it the Mass Pike. You know that's a federal highway effectively position in the links them you know the country 93. Is a federal 91 you look at all the highways threaten New England. But then you could also kicks on down to the states and say OK you need to pick Samir back grows in your community roads or the individual states it's it will. You do 25 cents a we're gonna do tenths. Right it is it something where you say okay out of the additional sixty billion and revenue that you generate each year. That's they were gonna control 4020 billion you're gonna kick to the state which is pretty much exactly what. Trump has been talked about he said look we want to 200 billion dollars in federal money going to the states the next ten years. Hey twenty dollar a year there you go. There's all generally speaking. Gasoline taxes are unpopular with the last in May bin unpopular with the right you think about Jeff deal and he led that. Plan to not allow the gas tax increase in Massachusetts appear called up last year yet. Very effective in and and he he was it a big opponent and he was able to curtail they they did not pass. The gas tax in masters here is why I like a gas tax and here's why I agree with the president in imposing. It 25 cent per gallon gas first while the economy touch you can afford to do it now it would take gas price what are we paying for gas to sixty. Error in that ballpark. Ready to 65 mile and a right to take you to to not you still under three bucks a gallon. But what does it and that's the you know might. My career I've always been in favor of things like. Gas taxes sales taxes and that's because there's so many people that pay zero tax in terms of income. And anybody who has a job is always been subsite you two guys you you've got jobs you're gainfully employed. You're subsidizing. The segment of society that sit in on their rump. Not participating in the economy. Rob rob rob it's a technical term dub it that did doesn't that ever bother you it bothers me a while ago. It does that that we here's where I'm at the on the gas tax and and we've talked about this a little bit in the first thing is that if were continuing to push for more fuel efficient vehicles and hybrids and in this inroads into electric vehicles eventually the gas tax does not come you know in efficient means you do it is an energy tax to Turkey could say okay we're also gonna tax your electricity a little bit more attacks should diesel little bit more I know you like the mileage right out of the mileage one hey what when you go in and you get your state inspection every year. They say okay Euro dollars 121000 last year to 24 this year. You've got to pay fifteen bucks a month and then over the course of the next year in the and that's that's how organ what's the opposition to that whit what would be the the negative side at that it is administratively. Year in the states are collecting the money into the collection is probably a little bit more expensive because right now it's. You don't actually paid attack you're not responsible for paying yourself the retailers and so it's easier for the retailer to do collectors to hand out yes that's something that's easier. It also is something where right now the gas tax it's hidden. You know you don't see when you shop at the pump you see the price they're charged migrant you don't see the gas tax if all of a sudden you have to pay an extra fifteen bucks a month you're sitting there saying. The heck am I doing this for. Maybe that's a good thing maybe gets people to wake up and say okay why do we have to pay this much per month would you say collected thirty billion about 35 billion years 35 to forty depending on the year. But the venting their curse to be there to track is your your collected forty billion dollars a year in tax. Think about how many jobs act creates because. It's now going to be all that money's going into infrastructure. So that's guys that paving crews news guys that are working overnight pay on news nearly all your bridges and everything the tunnels and it makes the country better. That I think the thing that we like I drive around. And I look at did indeed decrepit. Shape of our roads and our highways you go to an airport and you look at the this that the state of our airports. And hopefully that's it seems like a pretty obvious one to me. I was just surprised that the president was such a proponent. What's interesting on this is. If you looked at the in out on pulling the date up right now just to look so the last time that the federal gas tax was raised was 1993. Back in 1993 if you look acts the average US light duty fuel efficiency so this is stripping out the trucks and so force now okay. When it was passed back in 1993. The average fuel efficiency was about nineteen miles a gallon. Okay and if you're call in 93 gas as a backing down. Today. It's 22 miles per gallon so we've improved fuel efficiency across the whole fleet services including you know the vehicles that are still old. You've boosted to fuel efficiency and by a little north 10% ten or 11%. So you've reduced the revenue by ten or 11%. At the same time. You've also had increasing construction cost is obviously it's become more expensive if you factor in inflation you're probably running thirty to 40% below. You know kind of the cost of of kind of replacement roads at that point so it there's something at some point and asked to be done the question do you. Read that this type of tax with the dude on the mileage basis or on the gasoline and energy. Do you agree that it needs to be done and do you agree. That it's an efficient way to collect it as opposed to he see what I am always opposed to a graduated income taxes. Because income taxes penalize people were working 50%. Of our country. Pays zero income tax. I've generally been a fan of get rid of income taxes go to Labatt. Note I think it's clinic is based on consumption that is otherwise who it if you do that in in you can even build and something where you say would give credit for the first 101000 in income or something so you can get a refund on your batter something. But when you're taxing based on income if it you're you're effectively taxing people for producing value you want to. And in Iowa's the consumption based tax makes more sense it's cleaner to it to administer you don't have to do this huge filing at the end you can dramatically shrink bureaucracy are I've always been a fan of going in that direction. I don't think it's ever gonna happen do you think this tax happens. I think it might. I think about it I do I think it might like gets it it's not crazy to suggest it right now I. Economy is Heidi this is the type of thing that you do the other things that this would ironically do. Is it would curtail inflation because people it it would if it did when you have that type of tax it takes. Disposable income out of people's pockets one in aid. Sick twisted kind of weird type of way. It almost could drive efficiency because you sit there and he says OK now I don't wanna drive as much what do we do instead or use say I'm gonna drive a more fuel efficient they are potentially reduces you know missions and potentially reduces traffic and things like that sometimes something for everybody in this system. That the counterpoint is it does make it more expensive to draw okay and any tornado like that. And the chamber will say well it's gonna make or freeze out just chamber of commerce has come out and said that their papers this and if they. And Taylor though this needs to be done right it's the you know the you can't we've been kicking the can down the road for a long time. People know this needs to be done and the fact that the president. Is advocating fort should tell you something yesterday we had asked me spirited debate as a relates to food stamps as opposed as opposed to. What do we called food kits Tucker. Is that. Our outlets and he meal kits are are Fox's harvest box and else. And and we're gonna give you the opportunity. Help settle just telling you that's what the Coleman. Yeah we're gonna give me the opportunity to settle that debate we have a poll question today Tucker yeah we do we deftly when he hear from our listeners on this topic. Do you support Trump's plan to cut food stamps. In replace with a meal kits service that's organ a phrase it's or go to financial exchange showed dot com to cast your vote Varian ire yes slowed will revisit the conversation when we return news as the as to why. You may be close to that and why you might be in favor of it that's next from the financial exchange. Like us on FaceBook and follow us on Twitter T anesthesia. Breaking business news is always first break here on the financial exchange radio network. President Trump's new tax bill was signed into law on December 22 at 2017 and while it will have an effect on all of us if you're higher earner and making over 600000 dollars a year wanna pay close attention to this message bury our chart here and my firm the Armstrong advisory group has written a new guide that specifically discusses the effect of the new bill on high net worth investors the guide provides an overview of the changes to the seven tax brackets state local and property tax deductions as as breaking down the state exemption for each New England state this important information is George for free by calling 803934001. That's 803934001. Or you can download the guide right now at Armstrong advisory dot com. Advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go from in post illegal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes estate planning has many benefits but if you don't plan accordingly your short miss out fishing in Dolan is put together a brand new guide told the top ten reasons to do a state minute you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life for state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com fishing and Dolan has been helping families just play Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help you to you only 668485699. Or download the guide had legal exchange done. Com. Are strong here and I'm joined by estate planning attorney Todd Lipsky from the law firm Cushing handle we're talking about. Motivation to create in a state plan here's one. How Todd can somebody. Insure. That an ex daughter in law or an ex son in law is not going to take. Half of my child's inheritance when I die in the event that they got a divorce you know I don't think I sit down at a client meeting. And this doesn't come. Rate beauty do you bring it up Purdue the clients are. I think it's a combination of balls but but once you mention if they don't mention that always think about after death well I know and when you mention it. They jump on. One might spell out here that lower divorce is so prevalent I guess that's the pro and here's the worry right. You guys you both you leave each of your children half a million dollars right. And then three years after you're gone they get a divorce. You're gonna lose half a 500000 dollars on a good rate. And so what we try to do is inside the trust again another family reason to do is they play a non tax reason to do an estate plan. And and we inside the trust we create its shares for the children. And we have independent trustee if you will making one decision only. And that is in their sole discretion to make a distribution to the child or to the children. And that sole discretion provides all the creditor protection that they need from the divorced in the future. I don't mean to lecture but it's a good idea it created state plan keep your assets in the blood line. Avoid having your state goat to ex son in laws are ex daughter in law's call Cushing and dole and 8668485699. Call 3866. Eight Horry 5699. You can download the guide on the website legal exchange showed dot com. Or call told free and do it now 8668485699. Security suffered through securities America team members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. The president rhetorical. This segment of the financial exchanges brought to you by zero to hero landlord. Take advantage of the right to fully automatic online rent collection tool that is free for landlords with the count of participating banks and always refer tenants now collection of local banks are offering this unique program including leader bank and stone bank sign up an average payments directly deposited into your account. Call 7816418691. Today or visits he ran dot net for more information number at. DIC. So the president referred to his food stamp replacement program as the harvest box. And what he is a proponent of is as opposed to giving people food stamps which are often turned into cash. He's saying we'll just mail Liu. Food for sustenance purposes and be fresh food fresh vegetables meat chicken things that that would won't include would be things like potato chips. Alcohol. The things that we. Here and I act like some will say while bury those those are anecdotal people people really don't use their food stamps stamps to buy junk food now call they do. And out all the do real well golly can't aka supposedly but terrible date is that I I've seen somebody out I'll go this far. I've seen somebody use food stamps to buy furniture. How the same guy that owned a grocery store same guy that owned a grocery store owned the furniture store. And this person had like 3000 bucks on their food stamp card because they accumulate beauty even if the if you don't use your food stamps they differ on your cart. And this woman wanted to buy it. Actually buy some furniture. And they guy said well okay discord and Mike are for straw called in the tell them coming. And tell them to put 3000 dollars. Of groceries on your food stamps and then. What's he done that you come back and it appears 3000 dollar for the furniture. There's a lot of abuse week with food stamps and with the president is suggesting is that we send out harvest boxes which are nutritional. Boxes of food that would be mailed to people who are on food stamps and you didn't like the idea because he's beaten efficient. Well I think there's a lot of problems with the first time we decide what goes it. Out this. Okay what makes you better than talked. With the with the together and both have a lot of nutrition so what about you know we've we've we know this guy Jim who runs dairy farm he's gonna come units and wanna be in all these boxes it is it's no bid contracts and all awesome once I mean you can't get me out you know so. I love it number one IC in efficiency and that's a you know you can have a whole bottle lobbying for awhile Walt might you know by of this guy's milk in there and outline Kellogg is going to be arguing with General Mills and he got half Chris Dixon there Cheerios like a I don't know if you gonna see the brand names in there I think you're just gonna seed this were brands at the closest store still made by getting those big companies that are made by the storyline I seem like if you get it you know wig means owes vs Cheerios and General Mills make it all that's. When I just haven't beat generic food that's so it'll be generic who but who get the big leagues and are still made by some when he doesn't just exist on its only boxes don't grow on trees it's like oh there's the respects tree let's get the right Krispy tree next crisis that's when he concerns eruption the corporate world where we're trying to get rid of crony capitalism in this is a move towards. Second thing is just based on nutrition. Who decides what's good for someone nutritionally and as we know if you look at the food pyramid that all of us grew up with like talk and I grew up with the food parent it's at eat a whole bunch of greens don't eat any fat. And you'll be okay just about all modern nutrition says that that's wrong when I have how OK if we can agree on that. Wood about. Using. If if somebody wanted to shop for their own food restricting what they're allowed to bot. So why are we going to restrict what someone's allowed by on this program weigh in if you go and talk about the health care plan is proposed by Paul Ryan in the house. It says hey we don't wanna give your stretch and we just wanna give you money you shop for the plan you want. In. Why is by different from health care might my thinking on the food news. Then it. You know you're getting this free food because you're you've fallen on hard times maybe your sick maybe you're injured you're unemployed you've lost your job and trying to provide for your family. What are the people resent is when and and what I I when I say people what I'll be so blunt to say what I resent is when I see. People buying things like chocolate. Soda. That's addressed those problems like what let's address that. Because here here's another thing so we know that but let's take a look at some programs that we have around the country that have struggled in the last couple years tugboat Ghana in the via. VA we know is a is a horribly inefficient system that has long waiting lists and will what happens if something happens with your food box and you don't get it. Who ego like if you're depending on this food and almost and it just doesn't show up one week who's accountable who's responsible because we've seen problems. In other areas of government in delivering services on time the way they're supposed to so my big thing is. If we're trying to short kid going hungry if you're trying to simplify the process and make it is easy as possible. You don't want all of a sudden become a logistics like I think actually track you you wanna simplify the process that you don't wanna make these. They know there's a lot of single day from the government. Now you know like this is adding a whole day really dear oh Avery so we needed a little too easy for the recipient. So make it harder but don't like it if you want to say okay we're going to have you know restrictions for his rookie camp while you can't do this that. Finally let's figure out where the pain points are around there now. Why are we trying to turn the government to blue apron. Anyway I like the idea of the harvest box would it how to people participate in the polls Tucker yet people Kim participate in our poll. At financial exchange showed dot com in the current early results here 86% of her listeners are in favor. Of this. Thus far the hardest box score. Berkshire Hathaway doubles down on Apple Stock in dumps their shares and IBM. I don't know what it's doing now but I saw earlier this morning Apple Stock was up again. To a 3% yet continuing to move up at this point actually it's about two and a half percent right now. And this is come all this news. Some on this there's some it was just you know apple sold off I think more than a probably should've been that in that dip that we had it was down as low as about a 151 dollars a share to now say that buyback a lot of their shares over yet that addicting that says they wanna get to what they call passion neutral what does that mean yeah because I saw the headline I think a lot of people saw that headline said okay what does. You know with. 235 billion in cash yes 280000000280. And so what what they're saying right now Apple's got a whole bunch debt that's outstanding I think the total is somewhere in the ballpark hundred billion dollars in debt Nokia and so what they are going to do passion neutral simply means they wanna have a balance between the amount of debt they have and the man can't stand up. And so they're gonna spend a lot of it on buybacks and dividends and things like that. They're also gonna pay back some of that debt so might be situation we're down the road they say OK we're down to sixty billion dollars and then sixty billion in cash it in that's what they mean by cash mutual's pretty much saying that the cash on hand is equal to the debt that they. Outstanding. We'll we'll save this for when we come back but. Some companies in the past have been known to pay out a special dividend and if you're apple stockholder in the company sitting on 285 billion dollars in cash. You might wonder is apple gonna pay out a special dividend will explain what that means. When we return to the financial exchange radio network. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. Hi this is very Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should tuck we all work card if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention that your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. Securities for two securities America incorporated members in SAP C and advisory services are securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities companies are unaffiliated. If you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC if you're a landlord and are interested in having your bank does he technology Obama called as he team at 781 at 6418691. That's 7816418691. Or visit Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot. Net hi this is very Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business daily tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's weaned pigs executive director of EDA. This is a program that's. Fully approved by congress has been in existence for about 45 years that we have several companies that are doing that Carly and we effectively reduce federal income tax because we do Ameritech system where we use of federal forms with the money CC territory and a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us to tweak our tax rates if you're. A business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI EDA dot or best US VI EDA dot org. Advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go off from in post illegal exchange radio show and he educates his listeners by telling them how to protect their assets from the high custom nursing homes estate planning has many benefits but if you don't plan accordingly your short miss out in Dolan is put together a brand new guide told the top ten reasons to do a state you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life for state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com fishing in Dolan has been helping families just play Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help you to only 668485699. Or download the guide had legal exchange showed dot com. Many believe that the incredible success we saw the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remained strong with. Quality of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explain these changes and how old that new law affects you call right now feel free guide 803934001. That's 803934001. Or download it right now at our strong advisory ducked out. Securities operative securities America incorporated member finreg SIPC advisory services are with the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Time now for Wall Street watch a look at the market's performance so far today thanks to Darian jug right here on the financial exchange radio network. Michael Armstrong is with us now. Wall Street watching Mike. Let's start first with trip advisor is a company we've been watching closely this week they reported earnings and what to receive from them. They did they. Slightly missed our earnings but they really they really did well on revenues in also announced to a million dollar stock buyback in the and it's pretty upbeat forecast between eighteen the concern here is that they're gonna miss these Expedia. Had pretty awful quarter and enemy competitors but so far as stocks up. Nearly three bucks almost 7% on the our support they gave out. Struggled a bit vet Teva pharmaceuticals. They are one of the biggest manufacturers. Of generic. Pharmaceuticals. And they've they've really struggled the last year or so but up 8% today how come. Yet they have been struggling quite a bit is really based company that stock price to me take a look at pretty much lost half its value the last twelve months. But Berkshire Hathaway a record day after announcing it which it after shouldn't there toward exactly which companies they took stakes and intent was one of the big ones that they added to there. Added their investments and you know whenever Warren Buffett's take a look at the company that's easy good news is stocks as stoppers that in the two bucks on that 9% on the news today. Good thank you Mike. That is Michael Armstrong with Wall Street watched to investors that own a lot of shares in apple are Carl Icahn. And Warren Buffett. And I if if you're owning that many shares they egging buffet he just doubled down in terms of his ownership. Of Apple Stock. But are you calling Tim Cook insane hey how about its pain out special dividend. You might be put here's the issue that you run into any and here's why I don't like special dividends there's probably a reason why Tim Cook doesn't like the neither. So a special dividends as opposed to being a regular quarterly dividend the board declares and says okay. It's gonna be the same as last quarter maybe once a year you given a boost of a couple cents or maybe a dollar depending on the share price a special dividend. Is a one time payout to shareholders. And you simply say OK in the case of apple pan out ten bucks a share you get that and then it's done and it doesn't come back right right V nonrecurring. Yet it appears to have what's that with special dividends is if your company like Appleton. You don't want to necessarily be encouraging people just a by the stock for the dividend and dump him you know it's you don't want something like that and also beer can mess with your counting a little bit. And so. It's also bad for the shareholder from a tax standpoint isn't it like wooden shareholder be better. If let's say that in Apple's case they wanted to pay out fifty billion dollar in special dividends would they be better off. From just from a tax perspective for the shareholder. In buying back their stock I mean if if you're looking at the the best thing from a tax perspective it always would be buybacks over dividends because the buyback. It's not taxable until you finally sell their shares and you say okay the might ever somewhere you might die with a right you can choose exactly when the to take that capital gains with the dividends that are paid out. They when they're paying out you've got to recognize the taxes whenever they're paid them. It's it's just kind of the nature of the beast so what do you think they do. Combination of bumping the dividend and I think increasing their buyback you know apple right now. The the dividend of their paying out. The used to about one and a half percent yeah I wouldn't be surprised to see that bumps. In the pain at 252 a share yeah per year right now. I'd bombed before you know as a shareholder aren't I better off if they just said well we're not gonna pay increase or David Edwards can buy back a boatload more stuff. That they'll do and what's the downside to them buying more stock. Is you know if if potentially buying it peaked and it's you're spending an awful lot of money on something it's not generating any shareholder return. And so. My guess though that's what. Apple's got 285 billion dollars and knees and they make they can do just about whatever they want and they make rash on every day. Yeah it make more cash every day. Yeah they just a very profitable company despite the fact that by all reports the rifle intently and yeah it may well here's the thing like I still haven't bought one lead laid an egg is still you know kind of a he is a tough termed tossed around you're selling tens of millions of these things and you know it it didn't necessarily do as most people expected. But there's still like their printing thirty billion dollars in passion play at quarter. Did it. Has its its kind if we don't we get so critical of apple saying oh they're not doing this and not doing that now and in I'm guilty of it too because I say hey where's the innovation what's driving in. They're printing money hand over fist I mean at the end of the day there's no company that even comes close to what they're doing. Do you own a business that is printing money hand over fist you know. One of the biggest problems you might have let's say you won't company and you know last year it turned a profit of ten million dollars well heck they time you pay the state of Connecticut state of Massachusetts and the federal government. Under ten million dollar profit would he walk away with 7000006 million. What I would suggest you do if you wanna reduce your corporate tax liability. Learn more about the Virgin Islands economic development authority why there's no state income tax in the US Virgin Islands. And you pay a 90% reduced rate of federal tax on your corporate profits. They have a guide that's available for you to take a look at. Who should call. If you hold a profitable business if you own a highly profitable business. They can be relocated to the Virgin Islands which is like where people go on vacation imagine getting to live in a place where people go on vacation. If you can relocate your business to the Virgin Islands. While. If he can save you literally. Millions and millions of dollars in tax I know people that saved tens of millions of dollars. In taxes by moving their business to the United States Virgin Islands keyword there United States. If you'd like to learn more than about a whole package of information you can call for a gonna give you a phone number similar grabbed ten. It's 855622. 363. War. And just ask them for their guide as a relates to the EDA program they'll know you're talking about when you call that number they'll understand why you were calling. It's 855622. 3634. You can relocate your business to the United States Virgin Islands. And C 90%. On your federal taxes to just take a look at your accountants say hey what I pay in federal taxes and corporate profits last year. To reduce that by 90% pretty easy. 8556223634. To get your guide and to learn more about that exciting program so there's a blood test. That has been developed in conjunction with the military ironically to do talk to tacked concussions. Yeah this is it's a test that is called the band in brain trauma indicator you know and what it does is it pretty much detects. A couple neo enzymes and proteins that are released by the body. When brain lesions are present that are typically caused by concussions and in this scan what they've found. Is debts. It is effective in predicting these lesions caused by concussions 97 and a half percent of the times there's always two and a half percent chance that you miss out on something. That's actually there. And they do not display false positives. 99 point 6% at the time so I'm I'm as soon as you said dad I'm thinking of two sporting leagues. NHL. And NFL. I think they're going to be forced. To and I think they should I think by in order to protect their their players I think they should adopt this immediately. The issue that you run into one this it's unclear as to whether or not you can use this in just a sideline test or anything like no idea what's in turn around time and you know it's potentially within twelve hours so it's it's fine it's unclear if it would do anything on that front you get your bell wrong. In a hockey game right in they know OK he's loopy. You go to addressing and you have the blood test and you find out the next day whether or not he got a concussion and if you do have a concussion. You're out until you've had made a full recovery and now they can tell. Via this blood test as to whether or not you may default that's what they're pretty much doing now. You know about doing a good job I'm doing a blood test them truck there there are no they still to pass like your your baseline testing and everything like I've got a lot of items you have to eat fake your way through the yeah a lot of that is a judgment call grilling no no no no it's not it has not ever taken an impact test you know I'd say it's a computer based test acquired. You'd actually like clickthrough prompts and like organized cards and stuff like that it's not judgment based what they do. Is they give you a based on where you take the test you Tuesday in a clean setting where you have had a concussion. And then they say OK now you're gonna take one afterwards in until you get back to those baseline numbers and they don't release soul wait what why not layer this in on top of that. I I think it's a useful thing I don't think it is this as scientific as opposed to yours which is. It's scientific but it's it is no blood tests being done I don't think it's gonna be the most useful for pro leagues now. I think in youth leagues is where this is going to be because a lot of youth leagues don't necessarily have those impact protocols in place and a in this is something that I think could be hugely useful in youth leagues because there's you know it's. A professional team you they've got doctors in this and that and pay. That they know what's going on if they release someone back in with a concussion they're they're gonna do would anyways even if there's a blood test. But the youth leagues. You have a trainer on every team necessarily you know perhaps a concussion specialist this is something we can say hey instead of having to go in for an expensive CT scanners nothing like that. Take it easy blood test it and that's where I think the value was because if an NFL teams gonna lie about a concussion they're gonna lie about a concussion. And you know even with a bullet to wait what were you you can't subpoenaed the medical records you know like that they're private records like hip they exist so. It's not something where this is going to prevent NFL team from lying about concussion results. I think this is big for youth sports where it's hey should this can be playing. Now you have an easy way to test for. Does this story that we glean from the New York Times up next will be joined by mr. Larry Kudlow will get him we'll ask him to weigh in on the president's idea of a gas tax for infrastructure that's next from the financial exchange radio network. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest view this as the financial exchange radio network. Hi this is very Armstrong last November my firm gave away a guy that outlined the seven signs of an impending market correction those signs included rising interest rates and overvalued equities and as we've seen over the last week those two issues have had a major effect on Wall Street's recent performance is the worst over well time will tell but there's a lot of people who were uneasy about what they're seeing in the markets if you're one of them then let's sit down and review your investment strategy if you're working with another advisor that's fine coming in get a second opinion it cost you nothing and you might learn something about your portfolio I've been helping my listeners with their financial planning needs for years and I'd like to help you to call today and set up your free consultation at 803934001. That's 803934001. Securities offered to securities America incorporated members in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. Hi this is Gary Armstrong and I told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering an. 25%. Annual percentage yield this is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up to this rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader banked dot com leader bank a step ahead. Her FDIC a minimum Alex fees may reduce earnings rate subject to change without notice and may change after an account is opened hi this is chuck and Mike from the financial exchange we're here today talk about some of the changes that are happening in the tax audit recently passed at the end of 2017 what it means for you in 2018 and specifically Mike. High net worth individuals one of the biggest things that changes are some of the rules about gifting as well as higher rate at 41 K contributions how much do people put into a 41 K plan. Yes so back into seventeen that limit was 181000 dollars per individual that number is going up slightly this year for 2018 is to be 181500. And don't forget if you're over the age of fifty you have an additional 6000 that you could put in there. Totaling 24500. However on the higher race side nothing's changing you can still put in 5500. In that IRA and adamant did not go ops it's really about the employer sponsored plans. For this one eye on the gift tax side of things for 2017 you can give away 141000. Dollars per individual without filing any sort of gift tax return in 2018 that number is also going up to 151000 dollars up here as we've seen the beer changes are definitely on the corporate side but there are some small changes around the edges on the individual side that take advantage of can be significant. Folks this is a free guide available for Armstrong advisory group it's titled how tax reform affects. High net worth investors and it's easy to get all you have to do is call 800. 393. 4001. Again that's 800. 393. 4001. Or you can get it online at Armstrong advisory dot com once again. How tax reform affects high net worth investors 803934001. Security suffer through securities America incorporated member finreg SIPC and advisory services overthrew securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. They say video adds ten pounds. But don't tell Berrian Joakim the financial exchanges alive every day on FaceBook and YouTube Dennis. There's the financial exchange radio network. You know yesterday we got news of a story. Where Ryan Murphy is leaving. Fox to go work at Netflix. And I'd generally care I know we was. Then this morning I read. A little bit about him this a big deal yet Ryan Murphy's like the man. He is big time on terms of what he has produced T you go down the list. You know that the biggest thing these produced is glee which was just a ratings juggernaut for fox for beauty has lineup when he fifteen. American horror stories another one that he's done that's really big. Just started a new show I think maybe a week or two ago called 911 on fox and that it is being built up right now and and he's been involved in a couple movies and so forth these dents and directing and yeah some writing as well. But see what their pain him Netflix pain and 300 million dollars over five years so these athletes make a lot of money Tucker it's. And he's gonna make two and a half times as Tom Brady nations the world and here's the other thing is they went out and it was I think what maybe. Six months ago they picked up Sean Iran's supreme an ABC for the last decade you know she's going to put together Grey's Anatomy and every other show that's on on Thursday on the network. And so. It's gotten to the point now where Netflix isn't just kind of going after niche writers maybe under appreciated talent they're pretty much say in. Fine you guessed that you have good talent we're gonna take all home and be honest here here's what I think is attractive for these these artists. They have no restrictions in that is you're on ABC it's well like you do this store but I have to cut away and I can't. You go on Netflix pay do whatever you want like it did they're giving them just well creative and natural. Doesn't make a profit. Unity is being is that if you're if you're Disney or fear foxy to make a profit you'd pay dividends to your stockholders yet that Netflix doesn't care and and they just continued to scoop up towel right now so it's it's fascinating to watch than the transform themselves from. Devery Henderson its program okay yes get Kevin Spacey and that's a big name but. All of a sudden you start picking up these names here in these dollar values Newsome they're going. Will he be you better watch out if your big boy Ryan Murphy was very loyal to Rupert Murdoch. Use a Murdock guy. And he said very recently that he'll die on the sat at fox because he liked working for Rupert Murdoch. The reason for his departure is he didn't wanna work for Mickey Mouse. Yeah I mean with with the the studio is going over to Disney that that was his logic anyway. We were dying to talk to Larry Kudlow about the gas tax and he's good enough to join us now on the show senior contributor to CNBC Larry good morning welcome to the show. Good morning Berry is back. Good. Larry what did you just ask you quickly into your busy. What is your opinion of Donald Trump suggestion that we increase the gasoline tax to pay for infrastructure. I don't like it. How come I don't think he should not be done better or you're gonna have a new edit the data and local level yeah. Out. A big chunk of the goals. Tax cut that we yup in the reform bills so that you know one or you could be yet. I think that these projects should be done. You know case by case state by state and gasoline that is like. You know when is it the whole world war. You know private public partnership I can now like the idea and I can pick it damn car and an eagle but I don't think that that. Really it would Akron they need that import to twentieth century text that's like there. I'm. Any thoughts on the ten year hitting ten to two point 9% today any concerns about that. Larry there. Let him go he's I can tell he's he's heading into the tunnel. I just need beat the big reason for Murphy leaving fox I think it's sites from the money in the Netflix throwing a ridiculous amount of money. That Ryan Murphy. But they tent in and that's that's at some point Netflix is gonna have to turn a proper well. They are but I I I think the if you're an artistic creative control Netflix gives you gas huge gives you talk about what Disney does and Disney movies they are formulaic it is hey you're gonna hit OK so I've got the the person who starts out struggling and and they you know have a big break but then they get beaten up again and then they've got to overcome that and then did they go on. That's every like you go look what they've done a Star Wars talk army is like. That's they've kind of just taken the Disney formula and said we think we're gonna adapt missed anything and I Netflix you can do darn near anything. Thank you you don't have the same standards you have your no net Netflix you can go all late. If if you're talking as an artist you say look I wanna make the best quality content possible to place that you consider our Netflix and HBO yeah. And when it's alive and make its case for you you make case for Amazon now two and what is in the reasoning for that is. There are no restrictions in terms of really you know June the FCC now you know deal with the SEC it'll you know it's it's it's a paid product in. And both of those platforms and you can on Amazon and they're now all three of those platforms. Pretty much say hey you got a vision go do what you want I mean you look at some of the shows that HBO Stanley they put out I don't know if either of you have watched the leftovers. Aria yeah no. It builds it like you just kinda in Egypt as a Buick what the heck just happened like my mind is just blow like it it right you like an hour and a half afterwards to piece together. What has happened and there's no way that Disney would let you do. Well at any rate Ryan Murphy gonna I apologize for not reporting yesterday didn't you know who was that I read about the guy. Turns out he's pretty talented dude. Tucker poll. It's up. It's a little care know no pressure poll question today is do you support Trump's plan to cut food stamps and replace with a meal kits services we discussed earlier and it looks like the yeses have to get a tad now down to 81% in favor. Of the meal service. Happy meal mcdonalds trying to make their happy meal healthy with support. I don't know late if you go to McDonald's don't you kind of is that we have through our diet book out it's a bargain you enter into this act like I don't have to deal with the devil I knew you'd eaten they'll bring it into the car like sort of a steakhouse and ordering fish. I Atlantic go to McDonald's ago. Yet in the store yeah and at night and then night. Disavow any knowledge that as he cash there's the light cutesy I mean they're trying to improve because they're trying to appeal to the young busy soccer mom. Who is strategy generally home from workers a public be that target you want the pretty hearty meals you courses should be there target lock the person who's OK with being fat. So it should be just know not all that. Markets got a bounce it around a little today we had a really big rally going on with the Dow was up a couple of hundred points now looking at the doubts on the got a citizen only 27 points. It's very. Talked her and shot. Joining you from the financial exchange come back where we talk about Boston here. Hi this is Barry Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should tuck we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention that your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me a call at 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. Securities are for two securities America incorporated member Finneran SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated if you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology tell them the cold as he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot. Net advance to stay claiming has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go off from Cushing in Dolan post illegal exchange radio show and he educates his listeners by telling them how to protect their assets from the high custom nursing homes estate planning has many benefits but if you don't plan accordingly your short miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life for state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com fishing in Dolan has been helping families just play Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help YouTube only 66848569. Guide how tax reform. Affects high net worth investors and Mike when the biggest change that we see is in the federal estate tax on the what happened to this number as a result of tax reform. Sure certain 2017. You can give to five point. Instead five point five million you're now looking at eleven million for an individual and 2.2 million for married couples so this is really impacting very few individuals. I mean in the aggregate were. Americans these days and remember that's a pretty hefty tax rate if you get hit with the estate tax you're talking upwards of 40% of that value that you try to pass on. So the federal limit is doubling the five out of the six New England states have state estate taxes as well the most restrictive one Massachusetts that number starts to million dollars it's guys and guy you know it's not just the amount over a million dollars if you go over a million dollars in Massachusetts you paid state tax on everything you have but you know going through the list Connecticut as an estate tax of two point six million Maine eleven point two million like you said Massachusetts one million Rhode Island is about one point five in Vermont's about two and three quarters the only state during the without one is New Hampshire folks. These are questions that you need to be able to answer if you're wanting to pass any inheritance down to your errors and so this guide how tax reform affects high net worth investors is available for free. All you have to do is call 803934001. Again that's 803934001. Or go to Armstrong advisory group dot com 80393400. War. Security suffer through securities America incorporated member finreg SIPC and advisory services overthrew securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are on the affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Precious metals are Smart meaningful investment. One ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead. Many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explained these changes and how old that new law affect you call right now be free guide 803934001. That's 803934001. Or download it right now at our strong advisory ducked out. Dirty suffered two securities America incorporated member finreg SIPC advisory services are through securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Tipping are better than one that everyone knows that that's where offering to balance the one taking. You can he added cash and wildcat mountains in that same day and it's the only thing. They're just twenty minutes apart in the number ones out in the heat. Q now in the once again WR downhill this winner at added tax and wild cat nap. Cricket dot com for more information hi this is Barry Armstrong and I told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals and they got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 25%. Annual percentage yield this is an online product only and there's no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. And. This is the financial exchange with Barry Armstrong and sharks are. You're exclusive look at business and financial news affecting your day you're sick leave your world and stay informed and a today about economic and market trends plus breaking business news. And the initial exchange we've Barry Armstrong and sharks. You know yesterday I was in an investment committee meeting with some in my. Partners and we are room and aiding about how perhaps the volatility had left the market the extreme volatility that we saw during the last couple weeks. And paid the consensus was that yeah I mean maybe we're not gonna have as volatile. Third time in the rest of February march and April. Well we may have spoken too soon because. This morning the Dow was up packed it was a couple hundred points and I'm looking edit now and it's down 51 points hi everybody it's very in check with you here and I'm trying to figure out I saw the ten year treasury hit two point 9%. And it almost seemed the second is his tenure at two point nine stocks started to sell off. Might have been an act known on on me and I think to be ours is a market now that's rallied you know 67% off the bottom and there's probably some people that are taken some light profits insane okay. You know it's in its rallied I don't wanna be you know caught in the same situation I was caught in a couple weeks known. And this is why when we win when we talk about how long it takes to come back from. A dip like what we saw the it takes a few weeks to shake all this out because. It went when the market moves that rapidly. You see investors over a period of cup week saying okay now finally have a chance exits and stuff or hey if things move back down OK now I've got another chance to buy in. NCC this consolidation it happens in markets and it takes four to six weeks for it to occur so you know worse through. We can happen this right now in almost two it'll be two weeks on Friday since this all started. It's it has probably still another month to go before you say okay we found our new level in the volatility is kind of back to normal remember. Normal volatility isn't what we saw last year or even the year before you know in the last few years were really Paul money that was historically. Home. Periods in the market so. I think what we're seeing right now is say there's there's a shake out but still going on and take a few more weeks my guests. In the S&P right now as it 2700 we probably settle somewhere between 2627. Silicon at three to 4% range. And we kind of go from there. Not a bad idea to have some dry powder dry powder being cash and when you see those pullbacks like we saw last week that's when you deploy your cash you have your shopping list. In you say to yourself. If apple hits a 152 bucks a share a biter GM hit 39 dollars this year I'm in a buyer. Whatever your favorite stock news if you think EEU you put your order in use they have got forty grants in my account if they goes off great. They Boston Beer naming a new president and CEO. Yeah Boston Beer obviously you know their company that has been trying to figure things out the last couple years here as they adjust to no longer being one of the Kraft offers there now an establishment Peru at this or point. Ensued Dave borrower who's a former chief executive peet's coffee and is going to succeed mark roper as the new CEO here. And I'd like Jim Coke was the CEO turns out he's just the Tim Cook yeah he's just the founder chairman the chairman at this point that Buchanan make pictures steered the ship from behind the scenes he's got a great job you know he does. He creates beer makes commercials it makes commercials and he'll he'll do TV appearances but he has a professional driver. And in his vehicle there's a cooler and in that cooler is lots of his beer. And he can just kind of sit beer an ambulance and they do not driving do we know it is Boston Beer still the biggest US owned Rory. At this point. IP might be I would I would venture suggests that. That founded in 1984. It's on Budweiser rate because currencies and our current. That's got to be actually no I'm sorry looks actually goes back and forth depending on the the year books ago is back and forth between Boston Beer and Yingli. Who's going in XX. Does all. Call out of your guys would then it's not good market at all giggling as what Pennsylvania. Yes it could be it was a sold in like Massachusetts for the longest time tour in five years ago yeah. I I I don't know. Everybody wonder that him whenever you know people from college you know if they went to Virginia Tech they were picking up on the way back in ever freaked out how great yeah England wasn't ballots can be sold there and respect outs not agree I've actually got a top ten list for US owned breweries can go through Yingli is number one and this is from twenty sixteenths and 127 team England is number one this is is based on volume of beer sold this is based on volume of beer soul impact liking league's number one. Boston here's number two man Sierra Nevada number three. Him Inverness. Never never never heard of it's based in San Antonio. Pass. To build more that never heard of it never heard it bills brewery no disputes the stone brewing stone effort if you have a stone hasn't phenomenal stuff via there at California. Oscar blues is number ten and then Brooklyn brewery is number one on Oprah Klemperer and there's a million. Bucks Hogan was down their dog fish is on the list are who was number eighteen so another Boston one expression hardened towards that low actually how much longer will people be willing to pay me you know twenty bucks for four pack of beer this there's there's no signs the stop and I was talking to a bunch of friends last weekend then. And and there's a whole bunch New Orleans. What exactly when you go out to a party idea public water to the really good Beers and insert her in the crappy small I mean what we. What I've been seeing at parties is like will bring you know a four pack but then amble swapping out you know will will change Beers I don't try to spear okay try my beer. On your own conversational piece Randy is fair. Joe's dream just really good and expensive beer and district last night I was a fan yes. Yes and the thing I might actually be good at rates as it serves a society that says you know all the spotlight Syria have passed VW lies in mullah India in the good beer tends to have a higher alcohol content anyways holes so you don't need twelve yeah I I'm on the tires. A case in late a lot of IPA's close to double so soon to give you pretty good does. That's the job done you know. My in my wife's case half of one. Fast six pounds yeah I mean we're looking at like 9% alcohol content some Beers. On here's a headline should not surprise you eating altar of processed foods like chicken nugget shock. Thank you if you're. Are linked to cancer. Least super. Eating chicken nuggets one. Some months I'm up probably still gonna do processed foods were found to make up to 50%. Of the average person's diet in several. Developed countries that scare. You know it it is because when we talk about it let's explain what do processed food news right chicken nuggets are one but if he ever had baloney. Writes I mean that's what I was like I was little twinkies rate between twinkies that's a prize like anything that doesn't have an expiration date. Is processed food and termed it that stuff is so loaded with chemicals. That it causes it modified in order to improve its taste or stand its shelf life methods of meat processing includes salting curling fermentation in smoking. It might be an indication they use should stay away from it and I think it's like anything else that if you have. Bologna sandwich once a year stuck and you know we don't have chicken nugget it's every day about who at night. Yeah I mean if it's again it's it's all about balance you know it's in the big thing is. Here's one thing that's interesting is we've talked about in the transformational groceries towards you know delivering so forthright delivered may be one of those things that actually gets more people cook. And fresher foods are just because gee like what's otherwise they say oh I don't have enough time we just order something where is this might be paid enough time will be just you get some of tomatoes delivered son let me give an example you go to the grower for store and you buy grapes how long for the good. A week no way yeah grapes generally we look if you buy and I'd buy a lot of great on the great. And I eat my grapes with in three days of purchase it's a week. Well it away. No or how long day at last they're not how long before you you know no I destroy them all right so because they go bad music awards and your produce. I let a democratic what do you do from a tomato perspective. How how long do you keep tomatoes because they don't go in the refrigerator. They tend to stay a little longer and lets you buy farm fresh like if Hugo. Down to the farm stand in you by too many battery acting pretty quick see what I do it in any advantage you can buy different developed and play in here's the yourself live by produced now is he says okay don't need this for a week I'm gonna bide a little bit less right I need this right now and putting great I've got a hit to cut rates. No breaks yet the whole bag in need get it you don't pick the ones out that look good and then. Now you know if not I'm not that guy I don't mean to guide oh great I opened the bag and I tasteless. In that freaks in in this or yes. Well I don't like that I do that I don't like a lot of I wake bag what you do with it if you don't like it that that the bank so your fingers are on the grapes if one. We'll see one great to make sure it's sweet and taste it there was that the boys you know it's nonchalantly IE that's IE separated from the herd to help us. I like given a choice I would like to buy and prudence or rapes your fruit of choice. Not a gorgeous. Org which is watermelon in the summer and orange and I'll tell. Yet watermelons don't got a banana and even in this story just a mixer to good on what is in July and August a lot of water. But a great extent guy I'd love grace is racing you're that there are also eazy. You know it's better for you in. It was very when we come back where it talk about eight perfection. That is looking for new to. Entries the the this is a business if you like spending time on the water you'll enjoy this story we have a job. Where you'd be spent a lot of time on the water and in the water that interest you make sure you stick around because that's our next story company toast. The financial exchanges line on FaceBook and YouTube watch Berrian chuck discuss the issues of the day and see which one smiles the most. Financial exchange radio network hi this is Barry Armstrong last November my firm gave away guide that outlined the seven signs of an impending market correction those signs included rising interest rates and over valued equities and as we've seen over the last week those two issues have had a major effect on Wall Street's recent performance is the worst over well time will tell but there's a lot of people who were uneasy about what they're seeing in the markets if you're one of them then let's sit down and review your investment strategy if you're working with another advisor that's fine coming in get a second opinion it will cost you nothing and you might learn something about your portfolio I've been helping my listeners with their financial planning needs for years and I'd like to help you to call today and set up your free consultation at 803934001. That's 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go off from Cushing in Dolan post illegal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes the state planning has many benefits but if you don't plan accordingly your short of miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do and what not to do when it comes to setting up your life a state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com Cushing and Dolan has been helping families just play Georgia Thursday claiming for more than thirty years give them a call yet they're free guide and let them help you to you only 668485699. Or download the guide had legal exchange showed done. Com hi this is Armstrong and I told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering an. 25%. Annual percentage yield this is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up today is rate may change without notice so don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Her FDIC a minimum Alex fees may reduce earnings rate subject to change without notice they may change after an account has opened many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remained strong with the. The quality of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you all right now be free guide 803934001. That's 803934001. Or download it right now are strong advisory ducked out. Securities operative securities America incorporated member finreg SIPC advisory services are with the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. If you missed any part of today's show not to worry for the financial exchange show don't come and click the listen. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen button had financial exchange show does come. Are you sick and tired of paying. Federal income tax on your corporate profits and I wanna consider relocating your business to the United States Virgin Islands howdy do that. Well first thing you should do is make a tool free phone call. 8556223634. And asked for their guy. About relocating your profitable business to the United States Virgin Islands the phone number again 855622. 3634. As fisherman age they mean is looking for new scallop harvester. It's yeah this is some fascinating to me. I'm a big scalp and you might might be my favorite seat what is it twenty bucks a pound. Seem down around 1718 couple times. Yeah you got to kind of know window form and everything we're about wegmans. Just some Wegman some and there's a couple fish markets in town and I look at occasionally. By the way have you ever seen scallop sequence at the little anyone's abatement and heavy as it have you ever seen scalps and how they swim. Now the did you know scalps to swim back after an shell that they are what they do is they kind of open their shell briefly. And then they push outs of forms like his jet of water and so they can actually swim. A portable video just I knew you guys wouldn't believe me but these are scallop swimming actually. If you take a look here all these little things that are floating around. Those are scalps that are swimming the expert that that they can't really guide themselves too well but. You know they've been over on the kind of like little fish when they swim nature takes. Yet I only getting back to the points it's I kind of went off topic there. Maine is looking for new scalp or sisters there's 630 scallop fisherman that are licensed by the state of Maine in the average each of them is over fifth. And they haven't they closed off those licenses years ago that you couldn't get. A license in Maine to scalp for fifteen years yet pro since the early two thousands and so what they're talking about doing there's two ways you can go and get scalps one is through dragging nets along beyond the sea bed. The other is kinda cool way actually died just go to you know pick up yourself. And so what they're proposing is offering to drag your licenses for every three that are not renewed maintained a one for one license. For every diver that doesn't mean. And I guess the big placed first scalp so's New Bedford mass. Now that I guess that's that's weary if it's we did the nationwide. Kinda headquarters for scalps is at a New Bedford and ultimately I I love those little guys at that point what I found. That's expensive that's more expensive and sort you don't do all the time right near the street it's kind of retreat but I'll tell you who. Wolf I that he does all day. Why would Amazon. Pace some of their workers to quit they will actually pay their workers Tucker get this they'll pay some of their workers 5000. Dollars to quit. Why. They don't the egg I think it's because they don't want disgruntled workers on the on the work full. It's it's two reasons the first is as you mention they don't want disgruntled workers they say look even think about leaving hey here's an incentive won't give you 5000 dollars pick up and walk away we can bring somebody who's gonna be a better employee who wants to be here. Kind of reverse psychology tuck them because what date they the did logic behind they bought this company years ago calls Apple's. Shoe company and I know them now. So is Apple's had this policy you know he's an elected job will pay you to leave and elect. In and it applied by the way and then come back he can't come back once you leave. You got that it's the opposite of hotel California because like Amazon has a reputation have been pretty ruling work may be the that is a fact. If I worked a mean workday and worked night and yes it's it's tough it's around the lot of power lines I've got to bodies their wolves job but he works hard boards he worked in the warehouse no he bars he's on like the tech side in the in the tax they are made the pork amount maybe you. But you'd be the fact of the matter news. Winning Amazon is doing is it is reverse psychology can easily with that forces you to do if you're an employee there. In year offered 5000 dollars to leave. First of all the bit in your pockets going to be around three green after taxes yet but you get that 3000 that you have a job today and as you get someone else lined up. Right right in and if you have so in this market if you work Saddam's Anita final he would. Now gay pride go to work for Costco or Somalia a UE. I mean with depends on what skills you have your India artificial intelligence to go do all right no that's not through their target note that these they're targeting headquarters employees with these are corporate employees that these are warehouse guys. You know these are corporate employees that they are targeting them. So if you've spent time items on corporate you can you can find some place to go over its corporate do you think they would have to sang some sort of a non disclosure. And only a course you know and then he signed before he went to work. Now eve that's a condition of employment met most companies do that such a stand pat Richard there are extremely strict ha ha I would imagine yeah. Why you should cut cable and what you will myths when you do in fact that cable we've talked about this before. I've I've news is thinks we cut is is the is used to like for the guy who hasn't cut the court right. What would be. He could you guys are already committed view you view your went apple TV I use wanted to to actually watch these PlayStation view. See your PlayStation view what are you Tucker I was just using Netflix and Amazon's that the world pretty much policy or oh yeah it's up with your mom here her Comcast yeah polio or use the laud him pretty much. So I can achieve a cat so. For the guy on anymore Tucker yeah what about YouTube because this article I saw in Wall Street Journal kind of made it sound like YouTube is the cat's meow. It's it's very similar to what I have Obama I've looked around and I just like the station on a on PlayStation you better just got. A little bit more in terms of what it offers give all the local affiliates ET stole our local affiliate Maria at night on the news or I get every single one of the local affiliates. I get right now about fifty stations which is all in the Lake Wales and he beyond that there's not much else the big things are getting antsy which means I can watch force compass Shawshank redemption on repeat. All the time you can all watch the day you can record rate. Yeah as you please report all you do is you just had to be at all you do sniper recording of been your favorite shows and different kind of Nazis that's cut and you know paying for that Tucker and ably texture so much pain for your you 45. And YouTube's forty. Yes unlimited recording them so what does he had to miss the football game right. You can record and watch later script and on one of the benefits of YouTube over PlayStation which I have. YouTube it's all stored in a cloud DVR you can watch from anywhere. Yeah eight eyes as I. As you do you Holmes you can cut your EU didn't watch say hey. Get rid of my cable down on the tape and I don't need cable on the table I need is Internet service or you pay your forty or fifty bucks. And then when you go to the K you just watch you too you know busts if people lot of money lot of sound and whole incident or if you're traveling. Right you can watch it on your phone when you sit in the airport you can watch it on your iPad when your at the hotel. He knew he could try to hook this up to your hotel TV so now couldn't know easily. On street good I'm trying to pull bull was that few finals what do I roku streaming stickers so where I details that you get on YouTube TV it's all the major networks. ANC BBC Bravo. Cartoon Network CNBC. It's. Why wouldn't you do it have you ever wondered how much the airline makes in profit when they sell you. Plane ticket worth talk about that very subject when we return to the financial exchange. The financial exchanges and live on FaceBook so make sure to like your page and watch the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader banker calling learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader bank. Let's go ahead many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with. Plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if you're high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. At 803934001. Or download it right now at our strong advisory ducked out. Securities are for two securities America incorporated member finreg SIPC advisory services are through securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group the securities American companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's apart or go off from Cushing in host the legal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes the state planning has many benefits but if you don't plan accordingly your short miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life a state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com Cushing and Dolan has been helping families just like Georgia Thursday claiming for more than thirty years give them a call at their free guide and let them help you to you only 668485699. Or download the guide had legal exchange showed dot com. Are better than one that everyone knows that that's where offerings to mountains and one. You can add cash and a cloud catamounts in this game day I'm the only. They're just twenty minutes aren't and number one's in neat. You out and then once again WR downhill this winner at added tax and cloud cap amount. You out and yeah cricket. Dot com for more information are are strong here and I'm joined by estate planning attorney Todd what's key from law firm of Cushing in Dolan. And we're talking about reasons to create an estate plan this one really hits home. Howell Todd can you provide for special needs child or grandchild. Without placing any benefits. At their currently receiving from places like Medicare. It in jeopardy. You know and it's not even just like Medicare thing your rate special needs children at the biggest issue there is. You might already be receiving some kind of government benefits that Jewish. And and people inherently feel that they have to just inherit their special needs child. Because of their fear of losing the government benefits when they get all this. And I wanna make it crystal clear out great reason to do estate planning is you have a trusting you to not half that does inherit your special needs child. You can give them the same amount of money as you can give your other children who serves as the trustee of that truck would have the children's. Who is literally no it's a sibling who better knows the needs of the child that sibling that brother or sister again. So easy use and not turn uncle to you could use a family member who understands. And that way you inside your trust your your family trust. Is a special needs share that allows money to be paid out to the special needs child to better their lives. With out jeopardizing their government benefits and that's exactly what you want. You have a special needs child or grandchild that's a terrific reason to created trusted do in a state plan. Call Cushing handle and and receive their guide it's called the top ten reasons to create an estate plan 8668485699. Toll free. 8668. Rory. 5699. If you're so inclined can download the guide on the website it's legal exchange showed dot com or call told free. 8668485699. Armstrong here. So I'm bringing you the best in business and financial news every day this is the financial exchange radio network. You know we all complain about airline travel unity get on the Planar too late by fifteen minutes or it's late for an hour you miss your connection. The son of a gun unity for a few hundred bucks you can fly from here to San Diego which is really pretty remarkable. But not a terribly profitable business. I I looked at the profits on this thing and then I'm thinking to myself. You know when you think about all the capital you have to deploy. In all the risks you take running an airline yup and then you look at how much profit you make every time you sell an airplane ticket boy think of a lot easier ways to make a buck. Yeah it's effectively works out to about 5% profit margins so if you buy an average plane take what about 355 dollars and the average profit per passenger. Is just under twenty bucks nineteen dollars and 65 cents so if you get the average playing called Boeing 737 right. You got a 140 people on that plane then you're sit there's and OK so were flying this plane we get all this feel or charge and all these people how much money do we actually end up making when it's all said and done. But when 600 dollars in profit. You know I'm I'm looking at two fifty airlines in some of them have actually pretty impressive. Profitability. For passengers like jet blew leads the pack with 29 dollars and American only makes ten bucks per flight. Right so that that American on the average flight between Boston and New York yet when this small two and two planes or something like that. You know there's eighty people on that plane that make it a hundred dollars on that nothing. 800 dollars you think they got billions he's always there to make 800 dollars and flying people 200 miles on a plane 30000 feet in the air. I just. Me I you know I've not in the day in a big investor in airlines I did own shares ahead trade on for jetBlue and I bought and sold and hit my target but. I'm I've just not been a big investor because. It is just such capital intensive business. You're dealing with a multitude of unions in the pilots have their unions and mechanics have the unions the air traffic controller sliders and it's like having. He is on labor intensive right the union they they're all union seems like there's always a strike you know her well. The used to be big. You know and and I think were actually term budget brought that up because. I think you're going into period of time now we you're going to see a lot more labor strife I think you're going to see it's always in the good times. That's not winning or no recession we've had a crappy economy for a really long time now I think you're gonna see mechanics. Flight attendants pilots say hey. We wanna get paid drivers Marie is they're they're gonna say while they still hand rate you're gonna wanna get paid. No we up and and go to the nurses they're getting paid. Ian well they're there and it is known to replace them after the bills are kind of the puck. Pilots you look at it as a pilot shortage I I would be surprised feel pilot strikes in the next year too is that they know. There's no one behind them they also note though if you talk to a pilot. Friend is a pilot. He said Barry. You know he he had heard us talking about how pilots won't be room replaced by robotics said were absolutely. Incorrect on that topic. He said he sat in on meetings. The gate pilots are being replaced the news robots will be taken jobs it is is his attorneys commercial airline pilot for a long time. He says to start with you know the little. Package delivery flights you know the in things like FedEx in and UPS Simpson be replaced by robots. But he said. He thinks commercial. Pilots will be replaced by robust just because they're better said robots are better than. That's them. What what's what's pilot make on a given flight do you have any idea what it took who works out to no good pilot on a commercial airline could be making 25300000. So lay her on a per flight basis Billy worked 910 days of yes so it's a purple it pays me warts entering a thousand bucks 2000 something like that then it is a good thing that I look at depends if it's an up and down because some some pilots if you're doing up and downs like if you're on the East Coast yet. You that you could be doing poorly and exit day that they look at on on the pilot is the biggest cost is still fuel. For air it is the single biggest arena debt and you get rid of a pilot says OK we might save me a little bit cashier. What does the fuel cost is the big blow it up they continue to push and that's where all the innovations have been it's been you know wing technology engine technology oldest types things. Talk about robotics traffic deaths edged a little bit lower in 2079. New. But they're still higher than they were ten years ago traffic deaths increased. Due to the advent of the Smartphone we all. Right you drive down the highway today. You can get on route 95 today. And I promise you you'll see some dope on their phone right texting and reading your email and check the newspaper if this is ever it's every. But we did see a slight decline in traffic deaths down 1% now we're still keep in mind that 1% is down from you know a historic high. In terms traffic deaths as it did drop down to what about 32000 a year in that ballpark yet our 40000. It in the big thing that you're seeing. Distracted driving is still an issue and the other thing is a lot of these states that race speed limits they're seeing problems and those wrote to you to drivers can't control their cars or drivers are paying attention and and they can't control them. As he continues to have issues there I. Bring on the robots say they can't come soon enough what about cannibals. Well how long he DC candidates will impact. Driving yet in the people's bills like Korea and the fact that it's like in Massachusetts it's legal right in Maine it is legal. It's for legal and Vermont. Are you gonna seem to keep in mind lake. What do you see someone go out and smoke but Sweden they don't want to go anywhere they're happy on that couch that coaches like the best place in the world to them it's not like when you drink you know again looking go to the party. You Rob Blake. You know you have a bunch of weakness at their new like. I'm good art department here man why would I wanna do anything now spirit. I don't know so I think candidates will be a problem I don't think it'll be as big as drawn to word on behalf of leader back a couple weeks ago. We Tony about a great new promotion from leader bank it's their new relationship money market account in it's gotten even better you can save your money. And you can grow your earnings with a brand new rate when you open relationship money market account with leader bank the rate is now one and a half percent APY. For balances between a 100000 in a million dollars and it's easy to qualify. Simply maintain a 5000 dollar balance in a leader bank personal checking account. In role in east statements in the keep a 100000 dollar daily balance in your relationship money market account. For more information. Called leader bank at 8776917900. Or visit leader bank dot com that's 877. 6917900. Or had a right to the web site leader bank dot com to take advantage of leader bank's relationship money market account. At one point 5% EPY. Grow your savings today these competitors earnings in the penalty may be imposed for early withdrawal leader make a step ahead member FDIC equal housing lender. We have a new tax scam. To report on the IRS's warning it tax prepare and refund scam is getting worse. It seems like we have these every every year ones that come out and you know obviously is kind of the worst time dismiss the bullying one. Yet it title in pretty much what you see is you have people who pose as iris agents or collection agents and they demand that your refund money. Be returned they say oh like we made a mistake conducted. And they tell you to send your money back to them that they don't tell you to send it to the iris Edwards obviously they say oh you have to actually sent to this account is this is where the money goes. And it is it just out there. I I am not trying to be mean spirited here but to be taken advantage by the scanned the you have to be kind of stupid. Chart that didn't yeah just honestly yeah when you read this the new say this could be I like I read this and I said. Like my kids would the office. My parents would fall this and I damn sure would fall well if you think about trying to think who. Did that it it's not necessarily if you don't mean you see sometimes. You know elderly folks who just you know maybe they're starting to loosen their mental faculties yet intimidated maybe and maybe they get scared and do something I mean it's a that's the thing it's that there's plenty of Smart people who may. A decision sometimes. You know the the two groups that I could see this happening to. If you're young kid kinda just out of college and you don't know any better because you never filed before you've never done anything. Polk acted understand that or for someone older says maybe this is something real. But in in general it's like here's that this thing to learn here folks if you get a refund. From the Internal Revenue Service. They are not ever going to call you. And say that the refund was sent in air just understand that. If you understand that you or your safe beyond a scale beyond that the two big things the IRS will never call you. And they will never email based manually send you letters and I've gotten those letters they send you letters in the mail saying hey we need to audit you for last year please provide documentation. You make it ten dollar mistake on your return Daria you're getting a letter to. ED UV will send you a letter if you made a mistake in addition error power you know you you sent in a check of the wrong amount by adult. There are sending you a letter. To that effect I'd gotten. To most common things math mistakes you know dot during the one or something like Dyer and not filing when your 1090 nines or something like that or W two notes if you forget the document or you make of mass mistake. Boom there you go you get that letter. And it's even if the caller ID says Internal Revenue Service just don't answer. Don't answer that phone call if they happen to get you on the phone by accident as he didn't check the car be told to screw and hang out and is just the F is that. That that's the best advice we can get definitely that they don't call you would say give us money that's not how it works and think it was. Up next will be joined by Jill Gonzales from Walt hub talking about. Overspending. On your cars are you spending too much of your disposable income each month on a car payment. Rick talk about that would jail next from the financial exchange. Vote on our daily poll question had financial exchange show John come what you're mayor buyer of the media player and watch the show while you work. This is the financial exchange radio network. Advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go up from in post the legal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes the state planning has many benefits but if you don't plan accordingly you're to in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do and what not to do when it comes to setting up your life estate call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com and Dolan has been helping families just play Georgia Thursday claiming for more than thirty years give them a call at their free guide and let them help 668485699. Or download the legal exchange showed dot com. Hi this is very Armstrong and a speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business day of the tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of EDA. This is a program is fully approved by congress has been in existence for about 45 years and we have several companies that are doing that Carly and we effectively reduce federal income tax because we do Ameritech's system where we use the federal forms with the money CC territory at a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us that we cut tax rates if you're. Business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI EDA dot or best US open. VI EDA dot or. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's own line rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in their dues local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology Tillman McCall does he ran team at 7816418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with. Plenty of optimism about a repeat performance in 2018 Titus is very strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal or state tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. That's 803934001. Or download it right now are strong advisory. Security suffer through securities America incorporated member finreg SIPC and advisory services are pretty securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Security suffered through securities America each member of finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. Joining us now on the line is Gil Gonzales from wallet out here to talk about the city's. That overspend on cars the most Jill thanks for coming on with us. Joseph let's talk first about the other methodology that was used here how exactly did you go about measurements. Essentially pretty simple here we looked at the meeting on learn balance of more than 2500 US cities. Compared to him that he'd be average income. And then it looked to see it and they let that debt to income ratio was just on Ottawa. What cities ended up overall fuel to the entire country what cities ranked worst. In this study. A lot of cities and hacked it did not do well here in Florida and did not do and we're seeing that in places where. Property and could be immediately keep or property taxes low black people end up spending more cars that's what it means to be right around the country. And so you mentioned yeah Texas is there SE about a four to name some Georgian names on the list as well where does the north east rank overall compared to some of these places. Get a little bit better honestly Soviet worst. Percentile would be in 1990 that's where indeed debt to income ratio is very eyes and and but just 60%. Mostly staying in the northeast get better meet the highest percentile linguistics yet. But less than 40% debt to income ratio. I can't stand few places like west Polaris electing you came brand and that's where debt to income ratio. Anywhere from ten to 20% that considered very. It in in terms of the overall effect this has on local economies. You know and if this money is being spent on cars does it impact those local areas and anyway. Yeah absolutely I mean if you're just looking at. First about the overall economy last year auto sales declined for the first time in eight years. It was a bit of this is that the end of the year to them on the mr. natural disaster and that's happening where. People now are in the market for and you car when it mainly cater not directly aimed at across the country that some of those economies. Are going to get a little bit of the news but also that many that the team. And now. Let's look at some of the New England states and China hone in on he'd be key areas in those states what did we see in terms of Maine what were the cities that tended to be best there vs the cities that tended to be worst. Clearly aimed it did the best pair decked and enemy you read 125. And so that basically boils down there. The median auto loan debt as 101000 dollars. In more like 42000. Dollars not Q bad. In Maine I'll burn in bang or didn't do the that income raced him like thirty. I'm just New Hampshire probably pretty strong along the coast gets a little weaker as he had in ruined. Yeah Portman did pretty well here and went papers and media not island edit twelve pounds and income more than make it expands and conflicted. As well OK Rochester on the worst. And you know get some of these other cities Massachusetts in general seems to be. Ranking pretty highly as far as not having an off an awful lot of auto debt relative to income. Yeah Winchester need and Munich in electing McCain. Our hover around that 12% mark in mean immediate Ottawa and that is higher around twelve. 151000 dollars but the intent and also a lot of iron from nine east side of 1151000. So that's what he's still get it ratio and it looks pretty dead. Very good Jill thank you very much of the time we appreciate it. Joseph Gonzales from wallet talking about cities overspend on colors give carpenter. Not anymore paid off two years ago Mattel Utah tree at a carpet at the old lease payments every month we drive. A Honda Accord 2016. So it's a nice car off kind of a midrange card with your payment per month if you don't money my payment is 293. And give you some advice. Don't release again because you don't police and now it is a big debut some some three financial advice. In and Tucker chuck weary name is John EU EU should do this right now. What was your car payment when you bought that card number. Two attempted to do four. All. And. One needs something somewhere that brought foreigners tornado in you don't have a payment anymore. Now would I want you to do is keep making that 420 dollar payment I did this back in the 1980s started by car payment lose 300 bucks. And I paid it off like chucked it at Peter properly be earned it but then I kept saving 300 dollars a month in a mutual fund. And then when I needed new car I going to that mutual fund and I pay cash for that new car because I've saved it. And I've never had I've never had to borrow money for cards at times that I have borrowed money. Would be when they offers 0% financing are really low rates of financing then I'll do it yet the right now you got getting it from the dealers you'd go to an art dealer today. Editing their car payment. You know I don't even know I've been bought a car bought carnal lob it. You know it's just like 5% 6% said additional bargains out there to take whatever your old car payment used to be to take that 420 dollars. Find you know a maybe a balanced mutual fund fairly conservative mutual fund can be stock all stock mutual fund. Put it into that fund and then when you need your next new car say three years from now your car dies out and you use saved all the money you'll need. In that we borrowing money your your it is. Buying cars like when the worst investment you can. Oh would you mean you drive the thing off the lot drops 30% valiant even when you buy a used car that you odd got a pretty good deal on used cars as I didn't. It's it's still goes down it if you didn't the guy who sold it to you still made money relative that's that's out always worked just fine mystified that. But my advice to you would be for those of you who don't have car payments are you to the courier trying to figure out how to get ahead of the game. Don't borrow money by car save the money in it it's the other thing it'll do psychologically where it is. You'll you'll realize you've got all that money in the mutual fund you wanna part with it. In you'll save yourself checked in drive this car another 50000 miles now you'll you'll you'll keep your cars longer. And Wendell was again one of the worst investments you as a consumer can make. Is going out in buying a new car or any kind of card new or used to go down and die you. On a frequent basis drive an old beater there's nothing wrong in reality especially when you're married. You know trying to impress anybody now you you don't need to be cool kid no you know we are they showed the neighbors that you drive a Lexus. One of the dumbest things you can do. I agreed market is up Dow's up 77. Points. Ten year treasury note U just to mediate got these mortgage rates are ticking up ever so slightly. It's very. Shock and talkers signing off for today. From the financial exchange radio and.
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