Full Show 5-22-18

01:51:29

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

This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Yesterday we learned that tariffs on Chinese imports were being. Have betrayed wool is being suspended temporarily that was according to Stephen solution. And we asked ourselves and we'll just got to be more to distort well today we learned. So more to that story it has to do with China cutting tariffs on automobile parts. We also seem to have some kind of an agreement between China and the United States as it relates to ZT you mean this is a company that basically. Stole American intellectual property for years. And then finally will talk about retirees are not spending enough money everybody's Berrian John Moody with you here and clearly this China story. Continues. To unfold and we learned more. Let's say by the date that we almost learn more by the Manila action was right there was obviously progress being made he couldn't he wasn't at liberty talk about specifically. What the progress was but we learned that. China will cut tariffs on some auto parts. And maybe even more importantly on vehicles which of course would impact General Motors and Ford the president tariff is 25%. For vehicles coming in to China. A terror that they charge. That's being reduced to 15%. On vehicles. Huge deal but it's it's a victory well leads the that may not be big deal but on the parts it's going 6% yet and that. That's going to be great you look at some of the residents of the automobiles automotive stocks. You know Ford which has really been struggling in their shares are GM is going to be a big beneficiary of this. Tesla is going to be big beneficiary because China requires that sold many of their cars be electric. And Tesla is the premiere brand for electric car. On the auto parts. You mention that peace does come down. That the terror comes down to 6% mean it ranged between eight and 25% to that's a break. I think bigger picture the very end we're seeing huge moves on the autumn automotive companies but we are seeing a move upward. I think part of that John breezing you know seeing huge moves his people are saying one of Tripoli. War I wonder how big a deal that really gets me is one market and they're still is a tariff of 15% which is not insignificant but this a break. And I I think the bigger picture though is a very positive one which is that both countries. Recognized the value of free trade up and China is trying to become more over consumption oriented economy but what's in it for them. The consumers can have access to better products we make great cars here General Motors and Ford. Consumers now will have more choice at a lower price to buy products they need. And in terms of deficits you know we talk a lot about the problem and I by the way I don't think this is gonna make it 200 billion dollar dent. In the trade delves is gimmick a small that I did a dead but now a look at the the deficit I would argue is actually good Pennington. Because the idea of getting products we need at a low price. In return for paper. He's not the worst deal in the world nobody unless you're the guy lost his job in Michigan right. Right to Chinese manufacturers there's still a lot of people that resent our resentful about having lost their jobs in the midwest. And frankly a lot of those people are still upset he talked to the chairman of new corps some of these steel manufacturers their matters because they thought. It the president was gonna stand up more than he's not. Well a lot of those jobs a number of them are coming back. Not those just a lot of book automotive jobs are. There are some automotive plants that are that are that are hiring people and expanding in their new plants in the ring is in the United States now we. We manufacture. Most of the BMW's that are sold in the United States we manufacture a number of imported car Toyota man affection atomic cars and not only for consumption the United States open for exports so we manufactures much as we consume in terms of cars right put where I think the big. Items aren't we you know when you sell object write her a billion dollars. That that is gonna have meaning when you sell a train and engine I mean that's where they if you if you wanna see where the trade really the value of the trade. When jet is worth a heck of a lot more than a lot of cars to your point yesterday we saw huge move in the stock market it wasn't as big as you think though because. 13. Of the Dow Jones Industrial Average. Increased yesterday was ball when. 13 almost a hundred points. That is to your point that this is a very big deal following NG part of Jews in America and G and things just aren't local port for GE because remember they're pretty big player and energy. The Baker Hughes investment. Word eighty dollars a barrel right now on knob on Brent yell and what are we 721 west Texas 72 west Texas and there's a there's an advantage here for a General Electric so things are looking up talkers not happy he's going to keep this weekend he's gonna pay four bucks a gallon. Four bucks yeah. My advice Tucker is filled up before you get there or go up on this side of the average you know without a doubt you to get a I another the story that we need to talk about is the ZTE. Controversy yeah. This you know this is one where frankly. People should if if the winner American companies in the go to jail. Yeah they're the fourth largest vendor of mobile phones the United States to buy a ton of parts from US companies OK but. The Commerce Department last month. Billion US companies from selling to ZTV there's there's the bush felt that that's that's and they have been for years. Well in addition to being thieves as you alleged they also violated sanctions against Iran and North Korea so they were playing by the rules. I mean the people should be go to jail yup and in that of that that's a pretty anti US moves that they may not recognizing these sanctions that are that are very important. Yeah I still come back with all these gyrations. I still this think this comes back. Two positioning than president in in particular strain. When he meets with North Korea next month I agree and you know sometimes you don't wanna see what's going on in the kitchen. You a lot of the other make us on the you know once the other make the sausage the ZTE is the kind of sausage you don't wanna see being made details on this. Are very slow to leak out it's funny bury two other the good stuff leaks out pretty quickly. The the dirty socks and stuff like CTE were not known where we're not really learning what's going on the details are indeed very slowly leaking. And what we know what deals being hammered out so progress is being made. And the smallest things you might not want to look in the kitchens he was gonna. Let's talk about retirement. When when we think about retirement. Most of us now were planning for retirement Jon and ire about the same age and I don't know by yulia IE will not be receiving any kind of pension. From previous employers you Ian pension amendment no I have one job a long time ago and it was a defined benefit and they cut your checked you know years ago for like. 2000 dollars that was like my pension. Well if you go back to the 1980s. It was very common for people in the private sector and talking people that work for IBM Raytheon the other big New England employers. Is very common back in the 1980s where you would retire with a pension so you'd get a Social Security check and maybe. In 1989 your Social Security check was going to be 12100 bucks but he also got a pension from your company for another two or 3000 dollars. Now. You know what happened in the nineties was the beginning of the demise of the pension plan right person. That in the ninety's frankly Wall Street went to companies like IBM and said. No more of these defined benefit pension plans because it creates. A liability. That we can't calculate the night. And that's a couple problems a lot of companies got themselves and activities no question there's one good benefit of that and that is. That people know that the source of their income is not unlimited if so what happens is now we have a generation of people who were being extra careful. With the retirement income no matter how hot our generation's John it's the it's younger people like Generation X. and millennial. You and I are gonna see our peers. Not due to retire they're going to be a lot of people working beyond age 65 not necessarily because they want to but because they have to. Because he didn't adapt to not having this pension plan they didn't. Understand okay yeah I don't know pension plan anymore I've got a 15% Alina for cape that they didn't do. And now they're starting to do that week because they realize they have to but what's happening here in this historian MarketWatch. Got my attention because. Retirees are actually spending my estimation. They are worried about their money lasting. Which is legitimate concern. It sure is once you stop having that paycheck coming. You worry and again. If it took awhile for people to get it but they now get that that's a finite amount of money so people being very careful. And the bottom line is a lot people have developed thrifty habits and you seal wealthy people who are very careful about spending their money even though they know they should be able to. Who got a lot of money because they were thrifty all of her life it's very are the transition of saying populace goes by and it's part he is and you don't necessarily want to like. Albany and it is certainly capital grow every now that the I mean. How much Porter how skinny I mean net and and and even if you are wealthy and yet afford to eat at the capitol girl every night it's a thirty dollar plate I'm not spending a hundred I don't care of you had been billion dollar you haven't been there it's not a thirty. They'll you know it actually is the cost 200 yeah. Now if you know that eat them if they have a billion dollars unit may not want to spend that kind of money. But people now have more money than they expected at very late ages ago because the fact they're being very economical. In effect in black and because 42% of those surveyed had pensions. That's a definite big reason and after twenty years black rock says people. Have what 80% of their pre retirement savings so literally drained about 15 of that after two decades not bad. Our poll question today. News will you received income from a pension other than Social Security tuck you wrote down public pension and about it with the game there. The with victory and if you are already receiving a pension you would answer yes like so let's say you retire from IBM and you're getting pension from them. Put down yes or Verizon we have a lot of Verizon workers here. But we've got to know the answer to that because I don't think very many people retiring today. Are going to receive a pension unless they happen to be police officer fire. Our poll question be answered two ways you can text us 6356. Sixes or text number. And our website address is financial exchange showed up on that shall we get a hard date financial exchange showed that com. Tucker will correct married and the people F five there there and that's why the you know the old refresh. It will you received income from a pension other than Social Security Eric Berry at cannot. On the second or time rowdy definitely I asked are going to be carefully in my cut your 401K match that's. Elijah. Coming up we're going to be talking about necco son of a gun if there aren't a lot of bidders. They decided they won by Nichols that an EC CO that's our next topic on the financial. Have a question for Berrian junk. Now you can text us at 63566. And take part in the show at any time you start your text through keyword battery and join our exclusive club. This is the financial exchange radio network. Hi this is very or stroke like many if you are. I was very interested to watch the markets after president Trump's tax reform bill passed last December if you have an irate Horry wrought by area count one little nugget that didn't get much media attention after the bill was signed was the idea of Roth conversions or re characterizations. Under the prior rules if you attempted to convert a traditional diary to a Roth you could undo that request and not get a tax it as long as you made the request before October 15 of the tax year in question after January 1 of Tony eighteen that provision no longer exists if you're concerned or have questions about how this change will affect you call me right now to get my free guide about Roth conversions the number is 803934001. That's 803934. Zeros or one or you can download it right now at Armstrong advisory dot com. Securities are with the securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. As we age the state planning and asset protection become a Paramount importance to maintaining a happy and successful lifestyle many families to go through this process think about transferring their home to their children to protect it from the nursing home if you're not careful a nursing home stay can judge your financial wellbeing and transferring your property isn't always the best solution because you're looking at huge capital gains taxes and home sold did you find yourself in a similar position you need time let's he's brand new guide the risks and rewards of real estate ownership a senior partner with Cushing and Dolan and host of the legal exchange radio show Todd will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes are better ways to own real estate and this guy can help you understand how to protect what is arguably your most valuable assets call today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk to get away from your children's creditors that keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com. Everybody it's very Armstrong and Jake tool GA is the executive vice president at liter bank. And we're here to talk about a brand new product available for landlords it's called Z deposit dot net Jake. What. Barry we created a security deposit product. To really help the problem a lot of land border facing with security deposits which is. You know one it's time consuming to open these small internal security pop number sons. And yet to go into the bridge yes sign paperwork and their small dollars and in the turn. In exactly the complaints in Massachusetts really tough for landlords and security deposit accounts. You have to give them ten in certain forms when they open up the count and you have to pay interest they knew and we should do all this canal through Z deposit all of that you can do through Z deposit it literally takes about forty seconds opened up an account. We handled the automatic forms that are generated in the count number department condition statement all that since the tenant. And the interest descend to the tenant. Automatically every year. This sounds like something it's going to be very valuable to large landlords it might have 200 tenants and small landlords and might only have five tenths yeah absolutely with a large landlords. It's just a lot of hassle to manage it so we make dad very efficient. For the small landlords a lot of them are afraid of nineteen complaints done correctly so some of them. Some of them don't even like taking security deposits were hopeful that this will help them do that. Folks if he'd like to learn more about C deposit go to their website Z deposit dot net. Or you can call and speak to somebody on disease deposit team it's 7816418691. Or online at Z deposit dot net it helps. Landlords managed there tendon deposits to great concept he might wanna learn more about 7816418691. Security suffered through securities America income member Sandra SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchange for Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten. This is the financial exchange radio network. You know surprisingly John and number of our listeners are in fact receiving pensions 603 writes yes I'm receiving a pension. For UPS and the teamster. In a problem for that guy could be. That teams a lot of teamster pensions are underfunded. Yup and here at risk of defaulting. On the entire payment rates of your first off your eighty you're probably not suffer any kind trees and if you're. I read a story last week. About teamster in New York who's in his sixties and his pension went down I think we have that story on on the show him and so yeah this is an issue going forward. Anytime you're doing with a private entity like that it you're dealing with the help that company 774 says yes I get a pension from the town 339 civilian pension from National Grid. What utility companies still have pensions. And you know municipalities depending on the health of the municipality down the line those things could get restructured. And they saw the power of taxation were just huge it'll acre property taxes right but in in in most cases it's not an issue but down more potentially could be on our poll 45% of our listeners are receiving a pension other than social security. And when we say the number was in that our research 42% it was yup so that's a pretty impressive number. I've been quite worried about this next story necco wafers. A you know quite concerned that I won't yield to resupply. And it's been hoarding human or is this a lot of people who agrees they look great they are very you do you like I was being facetious but I I I wouldn't hoard them. They like chips you've seen the casino but somebody's gonna buy you know there's no doubt this for companies that there's that three with three new bidders for total. Revere based New England confectionery company for that there's total behind this from around he'll investments. For fifteen million dollars not a whole lot of money for an entire company but the same company purchased hostess and twinkies is that ones I'd see. Based on what I read. They're probably the lead dog would think they're the lead dogged but the Ross competing with a company called spangler candy company which again is also a private family on confectionery out of Ohio. They think fourteen and a half million and they have dum dum lollipops. And orange marshmallow circus peanuts among other candy says they're building these portfolios. Of curious products. Well the the the big question news will they mean teen. The facility in Revere. My suggestion is probably now we have like EDS even staying in her theory if any of these companies just because. Your your rent you in your labor. Has to be more than it would be in Ohio Mexico or where that he decide. And it doesn't make 200 jobs yeah it's it's a couple hundred jobs it doesn't make sense to do this in multiple properties we can have it under one tent. In when you do that company with doing the volumes they are which is pretty small. The economics probably dictate that it's all gonna come under one roof. Speaking of job loss JC Penney just lost their CEO. His name Marvin Olson he is left to take the top job. Ant little news now you might say to yourself why in heck with Lowe's higher. CEO JC Penney mean JC Penney circling the drain they just just envision. They did did did they're good they're going down either it's a two dollar stock two dollars and 45 cents I mean they were on death watch. And so you have the first question I had was why you would JC Penney's stock go down. And low stock go up. If the guy running JC Penney was not doing a great job is gold lows and why would Lowe was one guy who's with a company that's doing apparently. The answer as you pointed out is. That this guy worked for a long time for Home Depot. In Home Depot is doing a number on blows there it clearly the leader in that space. So I think with an idol fine to the distinction between two stores I hear that all the time bowl albeit those that are. I don't see a difference I. From the aid if it doesn't you know I go to whichever closest 11 and I've to my friends action or like adamant that Home Depot had a better selection of lumber. I'm an agent lows. In their pro are they contractors but they've been doing now construction on their homes and what's interesting is I do agree if you don't see very much difference between I'd like go to Lowe's however. When it comes to contractors. Home Depot is killing close look yellows really is doing very poorly when it comes to contractors in Contra pre Smart people. You know if they're going to home people much bigger numbers there must be something that people's doing and that's the business they want they don't care business oh great Agilent by scribner did not make any money they make bigger mark on drivers but the dollar ship and the contractors are going I'm sure gonna get played attacks about that do. Coming out of a Home Depot on the job that you and now. I'd be curious why contractors prefer home people in big numbers I I I don't know the answer to that. But the clean and clearly home people than a better job marketing to contractors may be the cup the better deals and now. The have a separate entrance. You know young the need be they do take care room and that's they committed a major priority. JC Penney just as an aside. I I said to myself OK they're circling in the dream. You know there aren't they go on the route its years I think one can argue I think I think they are 800000 employees one. Hundred I mean. You just I mean if you're gonna lose your job and JC penny this is a good time to lose it because the economy is strong. You'll be able to find other gain full employment. But it's. That's tough I had no idea stolen menu plays and that's the same thing cedars. Seniors has more than Sears I think as a 140. And those employees have to know their jobs are on the line because the companies were on one's going to be tough to retain people. Yeah and and imagine you're trying to recruit workers. To seniors and a few other job you have to be thinking I keep my eyes open on opportunities because. Who knows of my parent company going to be around six months from now. It when we come back or talk about oil. I've got crude trading up twenty cents a barrel at 7244. You know looks like we're gonna hit that three dollar level for more Memorial Day weekend. How much higher can it go. I don't know. Talk about it when we return to the financial exchange send us your text messages 63566. Life goes on FaceBook and follow us on Twitter. Show breaking business news is always burst right here on the financial exchange radio network. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Brent de cuisine brand leader banks all mine rent collection tool he automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we Z rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. If you have a Roth IRA for personal investments here's something you need to know under the new tax reform bill Roth conversions are now permanent Colby Armstrong advisory group right now and get their free guide about Roth conversions the number is 803934001. That's 803934001. Or you can downloaded right now at Armstrong advisory dot com securities are for your securities America incorporated member Finneran said PC and advisory services are produced series American advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you're looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the 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 781 at 6418691. That 7816418691. 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Net are you thinking about transferring your home to your children protect from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces do you really write a check to your former son or daughter in law just to buy your own home hi this is Todd I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state income tax there a better ways to own your real estate that can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of realistic call now for your free copy at 8668485699. Or download your immediately by visiting legally exchange showed dot com don't put your home at risk 8668485699. Or log onto legal exchange showed dot. Com hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamlined the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to the called the Z deposit team to get started at 7816418691. That's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank a step ahead. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and your gold locally just sense of leader banker called 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 this is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of today zero and leader banks all mine rent collection tool he automatically tenant's rent and deposited into your account visit WWW he ran dot net to learn more we see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months free for landlords visit WWW see rent dot meant to learn more or call 7816418691. Time now for Wall Street watch a look at the market's performance so far today until Berrian jug right here on the financial exchange radio network and well. You look at that down it's down 42 points but if they and I looked on as the price of oil because it impacts. Everybody. And you know for 70%. 80% of the American population. That's a big expense in terms of their their budget you know leader if if you're rich right here in the top 1% or less of your pain keep toxic. Does that money on your pocket but doesn't plottage it is gonna change it right but if you're in the bottom EV percent rate query if you're in the middle class. You know when your pay three bucks again honoree for for gasoline and next winter your pain 03350 for heating oil. That starts Tikrit but at what point do you worry about the price of whale getting that tipping point where impact negatively impacts the cops. Well I just saw a report. From JPMorgan which looked at this very issue. They expect no impact on GG DP. For where we are because. They said if the same move we have right now happened fifteen years ago yeah. It would be three times the impacted used today will roll based site much higher oil production. Burke and country domestically domestically we're now ten and a half million. Barrels and we're bringing it up every week right which were spectacle eleven million by the end of the year. Higher exports a boost capital expenditure so the impact is supposed to be only 13. Negative of what was before. It's also hitting consumers though remember we talked about it a sweet spot I think the sweet spot where it helps us and doesn't hurt the consumer is around 6065. Dollars a barrel and that's look. And painting to seventy to eighty gallon or 250 to sixty in that range between 252 week. That is good for American jobs that is I think pretty good deal for consumers and helps everybody. The JPMorgan study though also concluded every move higher from here. Adversely affects us badly and in other words. That advantage that we get or the exporters we've got to hit peak price right in terms of debt and it to benefit to the United States corrective week if we go to 85. The impact you talked about in terms of impacting us the consumers. Overwhelms the advantage we get. Minimally from exporting from production. And so at this point on it's now your negative it becomes increasingly wore a negative in the higher coats. Tucker do you ever hear of anybody getting banned from using Amazon.com. Know however that till with this morning. It's in it's actually. Yeah harder if you. Shop on Amazon com and you return a lot of items that shut you down. There I guess the they must look at it John. From the standpoint. If you're returning too much stuff we're losing money but I'd like I can return that you perturbed on your right. That much but I did return a bus and some charging cables then brought the wrong. So right I returned those but the charge yet aren't stock us I would Jala to worry about that this morning I was charged to for male. It was like four bucks or since but giant said that sometimes it was free money every sense of the backs are just a varies with the item. But bigger Don Hewitt you at risk of being. You know I think I I you on the White Sox are the return like maybe two things. If you read that. You know this is what's concerning a twenty year old who works of ice cream shop in Israel. Said he had a forty or fifty dollar gift card balance he could no longer use. He said he contacted them every day for a week or two he returned one item this year. He returned for last year in fairness which seems pretty normal seem excessive it depends is it four out of five or is it for forty. Her you know a died in neither case they're looking at an outlays have that the conspiracy theorists. Have theorized that Amazon's plan was to take over the world to give you everything you want for nothing. Right it just that accumulate this massive group of hundreds of millions of prime members in Kennesaw and then Jack the price of pride yeah 20%. Q were there. Now it's like all the stuff like you can boy whatever you want for free two days and it's at a packed. Can't quite do that I'll tell you I thought and I wonder something's changing here were Amazon has now okay. Yeah we pretty much conquered the world now let's Jack prime mop let's restrict Rican purchase I have ever get rid of the customers that we don't make any money. Yeah well why wouldn't you. If I'm if I'm Jeff Bezos and I'm losing money and again in Israel he's. But yeah I wonder injured as a giant retailer. It in a tunnel like every time yet the eat the I'll tell you that the next move in here. I guess I have to here. If you can put her on the predict what if I said no figures and here I there's that should you to predict this is one for the prediction kind of light trucks here write this down. Amazon will come out with something called Amazon prime flaws. It's religious hike their prime now membership but they're gonna come out with so if you want. We eat a lot faster delivery you want access to more movies who want access to more music. You want access and me all the stuff that they provide be those of the Victoria booties but yeah music music movies music in and chop. Crack it's as they come out with. Amazon prime plus and plus in innate and it'll be something and its prestigious to. Of the status symbol prime platinum card or something like that and me you know maybe an extra discount apple from its median extra discount on certain items maybe. And how much is this guy to charge they'll they'll charge like 200 bucks a year won 909199. Right. And you know dope like these would buy it it's not it's not a terrible theory very thrilling. Better than it was our meal at a better than John humans though right yes from much better and I'm. You made a statement. Yeah yeah and make a lot of predictions. If there's only one of through layer after a step up against the law also weaker. Us. Our silky but I won 99 Amazon prime plus coming to a neighborhood there you talk. It may be the other thing is if you make enough predictions account opening like that yeah. You can always say well just hasn't happened to take off the board it's still technically go Johnny Mann Zell could stolen plane that you can always. I guess he's. Which could happen enemies in the opinion it probably drugs Peoria sports. Bear guy that would that would be major headache for them like it consumed but you never know I mean. The Wall Street forecast. Or shall we say their early not wrong done so maybe you could just simply say that you know Hugo two years nothing flights now. Prime plus it's coming C I need John. I need him here your early enough room as we age and speaking of my peers estate planning and asset protection. Becomes a Paramount importance to maintaining a happy and successful lifestyle. Many families go through the process think about transferring their home to their children to protect it from the nursing home. If you're not careful a nursing home stay can get your financial well being in transferring property. Isn't always the best solution because you're looking at huge capital gains taxes when the home is sold. If you find yourself in a similar position you need Todd muskies brand new guide it's called the risks and rewards of real estate ownership. He senior partner with Cushing and Dolan the host of the legal exchange. Radio show Todd will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes. There are better ways to old real estate. And this guy can help you understand how to protect what is arguably. Your most valuable asset called today for your free guide at 8668485699. That's 866848. 5699. Don't your home at risk. Keep it away from your children's creditors and keep its safe folks from the nursing home. Call 86684856992. Or you want it right now is go to legal exchange show dot com. Why on earth would any employer. Pay their employees 5000. Dollars to quit especially in this job market. Yes Amazon is paying people 5000 dollars to quit their jobs now that they said it's very simple as if we want people who want to be here. So I guess if you don't wanna be there though. Pay you 5000 dollars to leave now there mostly it's there warehouse workers. Pretty much but it applies to everybody though there are only able restriction is that employees have to have won your service. Which makes a lot of sense because ordinarily get to ring to it to quit. It's it to be you get more sealed and yet scaled in over the years but. And those who accept the offer can never worked in the Amazon again and the reason they do that is because you're right good point there and then say we don't wanna be there. In a be paid if 5000 dollars to not work which we never into the do the first place so. It's interesting concept because they have a limited number of employees and they and they want people who were hard working productive and one of either and they understand. The cost of having people in the workforce who don't wanna be that it can be a very negative factor you know I get a kick east of here people squawking about the fight for fifteen in Ian minimum wage debates we have historian or stack about it later as a relates to McDonald's. But it was on the if you go to work when their warehouses if you like 1617 bucks an hour. With benefits with like it there's a lot of goodies pick along with the and they're still haven't won dickens' time hire workers again when you're dealing with a three point 9% unemployment rate. That the ball was in the court of the worker. The the worker has options if you're you know. Hard working men and willing to do a job like this. There's a lot of people who wanna hurry and that's the bottom line it's not going to be that way all the time ten years ago. Most people were beckoned for jobs there was nothing out there right now there's six point six million unfilled jobs out there available ready to hire. And no one available to work Tucker how many weddings this year in the ratings. I just got to get to two what does it cost you. To go to. Likely we need it sometimes you travel a noble gesture so yeah there's one coming up this fall were reassembling the travel to main. Happy to reduce ago. It's probably generalized two nights and two nights yeah. Probably five on some like that now total at the end of the day as a gift and Erin and me a little more be more. Five to 600 what are you supposed to write for check for the gift they'd make an amount equal to the cost of the meal is a day and that's one of the I guess guidelines. When it comes to gifting Mets that's what I've heard the pass was that a hundred bucks ahead now often depends usually like out by a point five some like that now now. That's were the capital growth we're royal wedding this weekend and I calculated that were like are just my family. Is 7% of the total people 7%. While seven point six a subtle wants to you'll be underwriting this week we've beaten egg but I told my wife how much we should. You know give visit in the yelled you called the boost you do to boost and not know that in a tie in terms of hitting it. It is it is it's the boost in and hurt and I told her how much direct all of Elliott she's a cattle Yankee. Now as it had been dollar I don't know I knew I know how to calculate the boost. I calculate I should Jacqueline at 1930s. Highlighted these. Is a hiker biker. Weddings but leave a leader at this weddings are expensive what they're telling the advice is being given right now is stopped staving early plans for travel that's another thing. You can find out the better any event like this. You wanna know at least two weeks in advance preferably a month in advance because the cost travel can be except you get note note if you lead six weeks. What's when you when you send your invites six weeks I. The save the dates is a science 67 weeks whatever and the Sega dates club tech almost a should be saved the day by the way issue be invitations and that's it tenant and not now say the date for the invitation. That's that that's what you do now to crazy bit with that as a whole point of the invitation are supposed to be one day I'm supposed to be healed well and do your job at that do your job. Up next speaking of doing your job will be joined by Eric Reimer from seeking alpha or be talking about apple and Tesla. That's next on the financial exchange. To vote on our daily poll question had financial exchange showed John come out while you're there by Arab the media player and watch the show while you work. This case the financial exchange radio network. As we age the state claiming an asset protection become a Paramount importance to a happy and successful lifestyle many to go through this process think about transferring their home to their children to protected from the nursing home if you're not careful a nursing home stay can judge your financial well being and transferring your property isn't always the best solution because you're looking at huge capital gains taxes and home sold if you find yourself in a similar position you need time let's keys brand new guide the risks and rewards of real estate ownership a senior partner with Cushing and Dolan and host of the legal exchange radio show Todd will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes are better ways to own real estate and this guy can help you understand how to protect what is arguably your most valuable assets calls today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk to get away from your children's creditors spent keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com. I this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in and diary or Roth fiery third differences between two both types of accounts are popular but there's an important change to the rock fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional higher rate to a Roth a higher rate after January 1 of 2018 that change can nigh. On done if you have a Roth irate or worth thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934. Zeros or one or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated are are strong here and I'm. Joined by Todd let's keep from the law firm of crushing in dole and we're talking about something that sounds pretty basic but how should you all your real estate. Todd if you're real estate is in a nominee realty trust. Is that going to be protected from the nursing home and also will it avoid probate when you die out most miss understood. Trust I think in the trust world it's not even a trust it then nominee relationship nominee realizes trust I know but it's not. What I mean by that is. When you put your property into a nominee realty trust folks please go look at who the schedule beneficiaries are that you list to separate piece of paper attached it fits that children and you gave way to the children you don't even know anymore you'd realize you gave it away because it takes effect immediately not your death what's the difference. Many people think that that doesn't take effect till your death. More importantly if it's. If it was like my wife and I and the schedule beneficiaries as my wife and I really didn't wondering what's right back in my name and my wife's name so to your light and point it would even aboard so why is it being done so. Because lots of times people might go to maybe real estate attorney and anything can help the trust and throat in a realty trust. We used realty trust it's just important. That the schedule beneficiaries. Is another state planning trust revolt cobol or reap or girl correct or not a person not your kids not yourself. Please look that up if you've got one of these you know it sounds pretty basic how ocean dual your real state but he gets complex as you get older call Cushing handle and and receive their brand new guide but the different types of real estate ownership the poll number is 866. 8485699. That's 8668485699. You can download the guide right now by going to legal exchange showed dot com that's legal exchange showed dot com or call 2038668485699. Be a part of the financial exchange in an instant. By texting us and 63566. Started to extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Right here on the financial exchange radio network. This segment of the financial exchanges brought to you in part by the leader bank is. Not too late to get a great rate on a home mortgage. Leader bank has some of the most competitive rates around call 8776917. B 900 or visit leader Bangkok com for more information. Leader bank is an equal housing lender member FDI CNN analyst number 449250. Apple and Tesla in today's stop talking. Eric climber from seeking alpha joins us her picture into joining us. Eric mixed news I think on the iPhone sales but apple enjoying the big surge in a big buyer of their stock recently and yeah. Oh definitely on an apple currently the world's largest publicly traded company it nearing one trillion dollars but I think. It got a lot more room to rule of what the iPhone actually thought they've really made a very risky foray into the Mark Bowden feature by Ingrid and in doing everything that. Pat apple but what about the mark donning the hat on back home but then prepping to over 1000 dollar that is still all relatively well and an aggregate annual an experimental product by trying to get a head start candidates are on the eager and that they word or be more on the I need or propping your ability to host the opera on it and apple will all the pretty well and innate at the RI market audit and I think that each you're at it better understand. Consumer sentiment that are a debate guild to better spelled their mark on on and beyond that you apple is on normal week in order is that eating you. Also increase their revenue were Asian and they'll in the past it and really put it on mark on center court is that that meant but. In Greece in the month and year overall did you know increasing. Other failed or. Where for error this product that rated. I can it be apple lost the iPad. And acting in the future as these products begin to grow and we are being their growing rapidly I mean apple wanted regularly those being triple that it. Gained every quarter. I think we'll be up. A major organ growth in the future or apple leaving given his current diet and I think all together is and really any good picture grapple and the and amid all that he'll look Ian that they currently are. Really caring about the here or there as well is important for the company in terms the stock right. And though they've recently authorized additional 100 billion dollar stock buyback and the and while increasing their dividend and don't even given their current to activate it or. Also engaging in market share there. Actions. We wish you are. Which you can do with 65 billion dollars a year free cash no doubt about that a stock and debt like Tesla your bearish tell us briefly why don't like Tesla. Look at what has long been controversial India Tibet in world primarily because that. Never made a profitable and very ball out area and not based on these technologies that are up. Ara and had an out over it in your older than public were over eight years and the most recent quarter has shown that. Not only RD. Not making a profit built there and back they're. Cast little law as are each inning and an actor it means more and more improper at all. And I think at this stage. At a time when the companies should be hitting it that can target or an apparent model stole it currently is being delayed mishap regulatory. Nightmares and I think all that means that they the company. Really need to begin showing I have let at this eight or investors continued to. Give it fifty billion dollar valuation despite never making evenly never gone to make any money from it and I think one major Rick we're at and eat it all better now than at Kirkland that that allotted current and ability to even be a load has been paid on regulatory or there's been billions of dollars of thought to be cut back or that are out a year. And I'm nations recently is that Hong Kong. Then mark I ever have been are thinking that back and Wendy are taken away does benefit you eat at a male plummet and though. As at Lowe's situation worsened at. He'd be my own he's an idiot worsen we all in the most recurring all happy at that big fight with. I analysts on the call. On and I think all that means that. If the. Eric her own time. But we're gonna we're gonna bypass tussle for the moment that the unity he talked about those credit sin in my body electric car right got 101000 dollars in credits I can tell you. I would not have bought it without those credits absolutely so a lot of concerns about Tesla going forward. Dow was down 43 points as we speak. We'll be back with more on the financial exchanges vary John Moody and talk herself. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing calling 8776917. B 900 that's 8776917900. Or visit leader bank dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank. A step ahead if you have a Roth IRA for personal investments here's something you need to know under the new tax reform bill Roth conversions are now permanent Colby Armstrong advisory group right now and get their free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com securities are for use securities America incorporated member Finneran said BC and advisory services are produced series America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Are you thinking about transferring your home to your children or protect it from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces do you really want to write a check to your former son or daughter in law just to your own home hi this is Todd looking and I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state income tax there better ways to own your real estate can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of realistic call now for your free copy at 8668485699. Or download your immediately by visiting legally exchange showed dot com don't put your home at risk 8668485699. Or log onto legal exchange showed dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called Z rent 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 Tillman McCall does he ran team at 781 at 6418691. 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 781641869178164. Versions a lot of people set up Roth IRAs when they are working there often contributing to them on an annual basis. The Roth conversions a little bit of a mystery for some folks are Mike what are we talking about when we talk about. Roth IRA conversions yes so unlike the traditional for a one K or IRA where you receive a tax deduction for putting money into an IRA. The Roth IRA you put regular dollars in you don't receive induction but any of the growth is completely tax free number of advantages there there's no required and distribution and can be uses are really good source of tax free income later in retirement. When you convert in higher to a Roth IRA which are doing is you're taking money out of that traditional account. Putting it into the rock paying the taxes up front in order should never pay the taxes on the growth. So this is a case where you actually voluntarily decide to pay the tax usually with the idea that you're going to be in a lower tax rate rather rather a higher tax rate later on. And so this gives the ability to not pay taxes higher rate later. Absolutely correct so oftentimes people do it in a year which there and lower tax bracket intentionally. But I'd be very careful about when you do it. Folks Roth conversions they can be a little bit Dicey just trying to navigate the different tax brackets and so forth. And so are strong advisory group has put together. A great free guide to give you all the info you need on raw retiree conversions. It's available right now at Armstrong advisory dot com. In it doesn't cost anything to get it once again the only way that you can get this guy is by don't Armstrong advisory dot com. And he can get the guide titled an important update on Roth conversions for free. At that address Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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 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. Hi this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in an IRA or Roth fiery third differences between two both types of accounts are popular but there's an important change to the raw fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional higher rate to a Roth a higher rate after January 1 of 2018 that change cannot be and done if you have a Roth irate or were thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated time for bank the pays you would later banks admiral lord accounts can 1% cash back with a debit purchases and an extra 10% back when you use your card and featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917900. Or visit leader bank dot com minimum to open and annual percentage yield ten dollars mass residents only these may reduce earnings rate subject to change without notice member FTSE. Leader bank a step ahead hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to attendants called the Z deposit teen to get started at 78164186. And 91 that's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank a step ahead. This is the financial exchange with the Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up. Today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Retirees are killing the economy because they don't spend enough of their money and talk about it. We're also going to be talking about people selling. There royal wedding gift bags on eBay have we reached a new low and then finally. Tesla has a problem consumer reports did not like the model three. As a matter of war fact they did not give the model three a recommendation hi everybody it's Berry and John Mooney with few here it's a Tuesday morning in. Our retirees. Just not spending enough for their cash yeah the where were. The truck talking about the other retirees in the fact the matter is they have got more money then they they can and respect the old ones. Yeah lately if you're in your late seventy's and 80s90s. Chances are pretty good chance that you still have a pension you know your receiving a pension from the Teamsters here receiving a pension from idea you're receiving attention from ITT. But now it's on the guy and I don't know many people our age there except though those that are firefighters and cops and teachers. There are gonna receive a pension. And the behaviors indicating that there is some concern. About the future cash flows that are becoming their ways because people are spending less than you'd expect. And this you know I think there's a lot of reasons for the subbing people are very concerned about their money lasting. And they read a lot of negative news they see that there's concerning her eternal questions the report it so this generation's been through a couple of pretty bad recession tough. In not in a long period of time. I just noting the makes me feel positive here berries that there's not one of excessive exuberance and that's been something that's gotten us in a lot of trouble eagerness we have a lot of people. Who are still dealing with the after effect. Of what was one of the worst recessions in US history was what we had 20082009. In early since it Tony traders birdies and it wasn't long before that we have another recession just a few years before that so. The 21 century hasn't exactly been the best and a lot of people are I am exercising excessive caution in terms they're spending plans. If there's good news is. There's more money up there for people to spend and we're finding that after twenty years of spending money retirement. Most people have the majority of money still left now that's a good news. Well our poll question today is will you receive income. Or are you receiving income from eight pension other than Social Security world gonna get Social Security in one form or another. But our question our poll question is will you receive income. From a pension other than Social Security can answer the poll question by visiting financial exchange showed dot com though like in here many view. Texting us at 63566. As we speak. People are selling their royal wedding gift bags on eBay and I got to tie I looked at the contents of these gift bags. What a bunch of bikers. That you had skipped over it. Like that you had to go to that I've voted at least feel like a gold necklace of merits not a 20%. Down. The winds are passive gift shop and up a bottle of spring while it's a close call via an. Even though they knew was the collectible. But it is pretty cheesy. So I guess we can't blame so much they I mean how many of these defects were either Todd 2640. Mile that makes sense and to Barry's point. The bags were not given to the 600 close family and friends of the war a couple who were invited inside the chapel Cellini did Megan yes differed bag right I guess is they didn't get the 20% off the gift store I've got a Jenner date I've gotten better gift bags bundle of and they are aware that the personal ones more intimate gift I assume that you know a gift card archer it was 21 in in Vermont iceberg cheese. Crackers and now. This is. You're right I would be utter a computer Arnold those people. Well see I was gonna criticize these people first reselling their gift bags on eBay but what do they were. They're getting thousands of dollars your kids. I mean several thousand girl born every minute thirteen 100552. Is the top did on one of the backs thirteen thousand dollars yes. Bag it's worth ten cents for a you know for a there's nothing in the back of Basra again to 10% off the Panera Bread and yeah it's it's it's really. Let's goofy but again it's a collectible a fridge magnet that's how bad the bag contains a refrigerator magnet mood. A chocolate gold pulling floss. The both of I don't know football is in the act I can't understand why anybody would pay more than the ball. It does look like something that was like a hand on Macy's doesn't usually. Is a ball blissfully blind it looks like something you get a trade show yes exactly it's attraction so I've got back way better gift bags it carried out duds better dipped to bags at the dentist you know you have to program blossom now that you actually used up. I Billick you spend eighty dollars and fragrances of Macy's Egypt something like this you know preferred return so the other I I can't blame people were selling. In droves her car on eBay. And I feel bad for the people bidding thousands of dollars for these things because when they get him in the mail and I think they got. If they think they got an impostor. And the fact of the matter is they're getting something legitimate summing this legitimately a joke. And anyway prices have the picture the world is coming to an infant. Tesla model three has a problem. Consumer reports. It raided the car. And they measure talkers they measure the braking distance this is important to leave your travel and on the highway. Now and then you have to stop and her right you're driving around town now and then you have to stop and her kids riding our along yeah if you know the way. The the dark horse don't stop and this is a problem. Boy. You wanna stop obviously boots up fast cars stopping distance of 152 feet from the speed of sixty miles per hour. That is slower than any of its contemporaries including the Ford F 150. This is not very good and and and this is a bigger problem than you think. Because friends of illegal lot of accidents it's gonna lead to a lot of accidents but if Tesla has one thing going forward. It's that it has superior quality. Tussle as a lot of problems which is the financing is questionable they have meat for more money if questions about the production levels they can get to. The one thing that we've always thought his rock solid but honestly is the product is fantastic quality. If there's chinks in the armor of quality I think test is gonna major problems when they're down seven bucks ya because that is this is their bread and water they can't hang on to that 300 handle anymore you notice that. Yet there's been a lot of resistance and there's a lot of people short. I would be careful about betting against just because so we people have right now whenever there's a little bit of good news you know it's a short covering from them like crazy. But there's a lot of people who like our guest last hour Eric Robert pointed out. They just don't buy the story they think it's all a lot of hype in at the not to be able to live with the promised and the big big point is. They have got to get the quality 100% right that's a given. You meetings. I did him in Iowa you won a day to day probably less than one thing but then we found out that people. Who had three fourths of an egg a day in. Are less likely to develop heart disease which he happily for prop one day in and none for the next three. That's what I do some agent and a big omelet that I love. Things more than you're averaging I'm at today yeah I'm not sure yeah wait a shirtless and there were some plan did you review doctor Mel. Not too busy telling where right you know drink beer does exactly Patrick five years or more as a Saturn I'm good for the week. Yeah I'd I'd sore I I think the that's not a healthy way of approaching it because. Aches and not about the beer part that's a separate thing that's very often have ten at a time I don't I think the five at one time does not recommend that in any. In any area I you know. As a as a neighbor I can't and I think in you know he become over the house and have five Beers and everyone went about it about five X five deaths five makes a problem. Yet the jobs are rightly having five beer basket but don't you dare eat five eggs baked. Increase the risk of vascular disease in which which we've known the problem here's the egg yolks contain chemical. That can contribute to clogged artery something can be a whole bunch of wants your arteries Mino like that. So you might wanna spurred him on him and traffic and work out. After a workout. Artery out of line he's the hard work out yeah I think you're starting with better than eggs and toast but five of them. 44 or five cents a cameo and got a statement. What the answer is if you have three fourths of one to 100 day according to a study that was done in Europe. And involving thousands of people over number of years sure she 11% less likely to develop heart disease. The people who had no legs at all so once again moderation is the key. An occasional egg is that a good point for. Liz claimant from Fox Business will be joining us in the next segment she will give us a whole market update that's next. Benito. The financial exchanges alive on FaceBook so make sure like your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Hi this is very are strong and if your landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to attendance call the Z deposit teen to get started at 78164186. And 91 that's 7816418691. Or visit them online at C deposit. Dot net member FDIC leader bank step ahead. Are you thinking about transferring your home to your children are protected from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check to your former son or daughter in law just to buyback your own home hi this is Todd lets you know I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's in addition to your state income tax there better ways to own your realistic can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of real call now for your free copy at 8668485699. Or download your immediately by visiting legally exchange showed dot com don't put your home at 8668485699. Or log on to legal exchange showed dot com. Hi this is very are strong and if your landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered there information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating help disclosure forms and will even send out annual interest payments directly to tennis just call the easy deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online deposit. Dot net member FDIC leader bank step ahead this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in an IRA or Roth fiery third differences between two both types of accounts are popular but there's an important change to the raw fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional diary to a Roth a higher rate after January 1 of 2018 that change cannot be and done if you have a rock fiery or were thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated members and SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. Join our brand new tax club by texting the word ferries to 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. This is John Mooney and today Vietnam markets are mixed against the Dow was down a little bit the S&P 500 and the NASDAQ both up. And joining us from Fox Business is Liz Claman Liz thanks for joining us. A bar you guys or you know fantastic let's expected that might be little more excitement about the Chinese tariff cuts but not too much today. I don't know yet this could be sell on the news yesterday was the big rumor you're getting close circuit. Close to stop big gain for the day out and passed back via team and I yesterday Russell 2000 missed all of badcaps. Yesterday's other board record close of bro but. Now we know we know that the Chinese are moving and here's how we now all that's about it. Bet they put me. July expert. On the promise to cut tariffs on US cars imported into account. 15%. From want into 25. We've never seen to date actually count sport about the vehicle. No question net and Liz markets seem to be in a Tug of war here between. Not liking the higher rates. And liking it better earnings cutting you see the shaking out what what's your observation. It's funny how good news is is we're not so sure is. Could that break surprised that it means that we are out we've all been out of urgency Oakley situation but. Healthier and stronger and therefore. A paper should be rewarded. Which it cost a little bit more to borrow money but again it's really the benchmark that here's the benchmark for all like mortgages. Auto loan. It won't stop people get a little anxious thinking it went across the board as to be a little bit of rush to. Champion on priest by it I'm sure a lot of your listeners have been doing now too but I. I honestly sees solid earnings as a very good time. As an investment going on now the US companies and I want you to rough without a contract for it straight record close he missed all eight captain. That it spent a lot of money and time and get their customers from US. All that reason though things are looking better the economy of course doing better low unemployment rate. Demand for things like oil is going higher that's another byproduct of what you talked about that is a potential negative right. But yeah and and I would also I put all those sort of carried out a little bit not so much demand but we've got to situations going on with the oil number one. Op Ed Whelan about the collapse. But Dora just got to he's you know obviously. I respect dictator but he just got quote reelected. If you want to believe that it was a fair election but. That. Oil market. Was cute and it is a total and utter mess. Economic upper west side we have and the inspections and all sanctions coming back and play against Iran which could very well sick. About 2.5 million barrels of oil production off line. At least when it comes to US consumption or ability about to open market. So demand is really good but we are you're absolutely right going to look at what the most expensive summer driving season these things along. Young incision your point that I about Venezuela this and all kinds of talk about the Iranian situation which we understand. It's very possible to what's going on in Venezuela is the number one issue concerning oil in the world right now would you agree with them. And people don't talk about it yeah I know she'll but you know they talk about and Fox Business was the first started two years ago is that way to but it. People dark. Starting to honor it now gain instant partly because bat around the door is open control over people profit. The vouchers they vote. I think it is more than any am I goal. You know it's student body president race Bayer pre chewing gum brawl. But it's it's ratcheting it yet big debate account nationalize any US operations that were there in the oil world. Immigrants huge oil rich state. And and this Venezuela. What was propped up constantly by album and now it is a complete utter is sent to. Hill country. And oil off on them. Yeah I mean and it's really sad because they urgently and desperately need that oil income. But it's a metal wood. Don't want whatever they've got has been stolen by the government and somebody at Miami and says on a regular basis. The wealthy now only of Fedora cronies come flying into Miami don't want shopping sprees you with that money and then. You've got your people or people or show oh how the world is standing by watching just awful. Very sad Liz tell so when you're going to be on not Fox Business next. So I'm on a 3 PM eastern every game and here's why that is to be beaten. How important our trade except final hour patriots' then yes. How the markets open. What happens in the middle of the day of president. Sort of paper comment at all matters. But how often are closes that to keep money into day. We're going to be watching so many issues first of all yes as you brought up the tree would look in the auto game. A they're also they're interest story developing in the auto world. President trump is big on getting rid of regulation were two of them. He had wanted to is the auto companies a big part of treaty. They out by the way those those type restrictions and eight goals that they had to reach port for cap based standard fuel efficient and that the President Obama. Clinton and bush had always that forget it greed does it have to worry. The auto company. Topped lobby firm has come to congress and that. Don't get rid of those auto companies we action liked them. It makes a aim higher patent. We believe that climate change Israel. On the work and actually be looking into and we've got the California. Treasurer and gubernatorial candidate John Chang. A very interesting guy he's running for office and talked about the California standards because he's not a company this week at their higher offer but. We should a name for what California wants to do I'm company. Watch the markets there's going to be a space launch. During our hour the world work we got a lot going on here. I'm gonna be watching no question about that this we miss you so much in Boston I woke up with you every morning on channel seven when he did the news. In a battle WH ER age seven and help my my old co anchors. There are just as shocked at all. John good friend yup the fact I worked with his wife but do you guys have. You guys have come along way against that Comcast owned company yelled at their want the one that runs Jay leno's garage against your business reports. Right that's right speed the other guys site you know it start I'd jump from Boston the NBC's peacekeeper occurred it made it a top stock market I'm grateful to them for that but that went box. Call. At work and attractive business is better. I don't topic if this is better and so jumping the good lesson for all of air that no matter what is the parent. We were better than we've with a baby on the block and everybody says he had no chance. No chance they'll tell about it because it started right at the height of the financial crank you out that in 2008 and today. Actually number one. And I think that where beating in these be in the final most of now for our treatment very gratified that spoke it took eight years we've effort gave up. And that don't give up if you have a drink you really believe is that by living proof that works. Great advice you do a great job and like I said. Everybody thought that he had no chance against those guys you don't need to amaze it up get out and come back to Boston more often. I don't of course from Boston. OK. Adamant channel seven fifths if that. Did that loose claimant from a Block's business thanks I'll be tuning in 3 o'clock this afternoon you've got. Art of yeah I get paid. Yup. In money talks and and bundle in that business in your in the old TV business right. You know fox I can credit due to them before they do it to you date women rated the best talent for CNBC and they wrote big checks again and that is they guide to Neil Cavuto. They got. Trish Trish Regan in Maria. Maria and and they you know they pay what Emery on in the mornings. Which your actions morning solutions weekends is that we can chose to do so you know fox paid out that's great talent no. It's really paying off for the right now you're talking about the auto makers in that China deal. GM is up over 1%. Today in 3849. Per share. Tesla down and tests like to take consumer reports story tussle hurt them they're down seven bucks to 76 when we come back. Be talking about retirement plans and individual retirement accounts at the next on the financial exchange. The financial exchanges alive on FaceBook so make sure to like your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Are you thinking about transferring your home to your children are protected from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check to your former son or daughter in law just to buyback your own home hi this is Todd I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's in addition to your state income tax better ways to own your realistic action protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of real call now for your free copy at 8668485699. Or download your immediately by visiting legally exchange showed dot com don't put your home at 8668485699. Or log onto legal exchange showed dot. Com hi this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in and higher rate were rock fiery third differences between two both types of accounts are popular but there's an important change to the raw fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional diary to a Roth a higher rate after January 1 of 2018 that change cannot be and done if you have a Roth diary or worth thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Securities are pretty securities America incorporated and SIPC advisory services with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated 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 gold locally we just make sense of 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 bank a step ahead time for bank pays you with liter maximum reward accounts 1% cash back with debit purchases and an extra 10% back when user featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month. To learn more call 8776917. To 900 or visit leader bank dot com minimum to open and earn annual percentage yield ten dollars mass prison until late fees may reduce earnings rate subject to change without notice member of the NC leader bank a step ahead. Berry are structured I'm joined by Todd let's keep from the law firm of Cushing in goal and we're talking about something that sounds pretty basic. But how do you how should you own your real estate. Todd if you're real estate is in a nominee realty trust. Is that going to be protected from the nursing home in also will it avoid probate when you die. Doubt most miss understood. Trust I think in the trust world it's not even a trust it's an nominee he relationship nominee realizes trust I know but it's not. What I mean by that is. When you put your property into a nominee realty trust folks please go look at who the schedule beneficiaries are that you listed to separate piece of paper attached if it's the children and you gave way to the children you don't even know anymore you don't realize you gave it away because it takes effect immediately not your death. What's the difference and many people think that that doesn't take effect until your death. More importantly. If that was like my wife and I and the schedule beneficiaries as my wife and yeah well that we didn't do anything right back in mind game and my wife's name Sochi are lighting and point it would even aboard probing so why is it being done so because lots of times people might go to maybe real estate attorney and they think can help in the trust in the throat and a realty trust. We use realty trust it's just important that the schedule beneficiaries. Is another state planning trust revolt cobol or read during your remarkable correct they're not a person not your kids not yourself. Please look that up if you've got one of these you know it sounds pretty basic how should you'll your real estate but he gets complex as you get older call Cushing handle and and receive their brand new guide. For the different types of real estate ownership the poll number is 866. 8485699. That's 8668485699. You can download the guide right now by going to legal exchange showed dot com that's legal exchange showed dot com or call toll free 8668485699. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. Surprising results to our poll question we. You received income or are you receiving income from a pension other than Social Security John. 56 point 52%. Of our listeners are receiving a pension while I thought. That's impressive that number's gonna go down in the years to come. Right now enjoy it while you got it. Retirement plans are being used for immediate needs not. For savings this is a problem this is a big concern less than half of people surveyed are confident they'll be able to retire and they want to. Nearly two thirds of people save their retirement plans in Social Security. Will not be sufficient to support them in retirement or they're not sure. 42%. Say it's likely they'll need to use money health and retirement plans for other expenses this is the big problem. People need that money. That they've saved for retirement mean for immediate health care where you must've seen people back I I know I did. In 8910 and eleven when the market crashed. And unemployment it's the big problem was in the market crashes the unemployment at all yeah it's over your artwork you need money. Where do you go where you don't use. 52 years old. But yet feed and shipment and in that in a crisis that's always going to be you know problem number one but in normal times. Issues like health care you don't have access to affordable health care. Sometimes you need to tap the retirement money to be able to do that that's you know that's not like taken a vacation that's that's an essential thing he need to have. People are spending it on that. The other thing is they have kids in their kids have urgent needs whatever maybe. They end up finding out they need them money to help their kids with things like that call which cost store the other kids can't find work so there're there're. Reasons be like what happens exactly and it's easy to be very easy to say while people spending their money and getting. You know sports car or room in the exotic vacation they tend not every tap retirement plans for the people are Smart enough to realize that's a dumb thing to do. But there were urgent needs the gets in the way and this is why I'm really concerned about the future retirement and people meeting that expenses. A lot of responsible people who like you said stuff happens well I think what you sees. A lot of people will work beyond. Their normal retirement date GE I've got friends I avid. Played as a doctor. He retired. Three years ago. Just went back to work he's going back to work two days a week not for financial reasons just because he's still he's very in very good shape. He's in his late sixties lot of energy wanted to work yup now in India in any guide an unbelievable offer. That's that's a thing you you're gonna see more and more of your skilled. Doctor nurse. Lawyer engineer. Discus you're 65 does mean nobody wants may need you more than you need them and and and what they're doing is they're saying. Look you can work. Two days like how much are you willing to work knows what you have to react to it if you're good at what you do you know you've got some more effort to. And 42%. Of the people who take their money out early states to support their adult children. 42%. See that I bet I take exception to that because. Darn here adult children are responsible let's say call them adults yeah. That's a generational issue yes that's a whole other topic but I think it's an important one I came across an article in the Motley Fool called five are very rules you. Should know by heart. Two main types of virus I think you know this when traditional verses Rolf show if you can afford to do the Roth do that III and W Berry but when I was growing up. Growing up. When I was early in my working years there were no Roth IRA you nice seven. Yeah so it was you know I've been working for number years and fortunately put a lot of money in traditional but now I got myself big tax bills as a result. Of the rock is something that is just golden for you you can afford the to put the extra money in the Roth the advantages that's tax free money sure is and how my continue putting two and hiring this year. 5000 dollars for those under age fifty. Nice bonus if it 5500. 5500 or 5500. And add an extra grand 6500. If you're fifty or older so it was a nice things it won't catch a provisional helps when you get to battles. One thing you were talking earlier about people taking money out of their diaries generally. Understand. There's a 10% penalty so the way it works is let's say. Yee you your kid needs twenty grant. Maybe it's the by house news in emergency navies to pay back intact who knows right you the year cut your son comes Tia. And he needs 20000 dollars in the worst way you'd take that 20000 dollars at your hiring your fifty years old here's what's gonna happen. All that 20000 dollars can be taxable. As ordinary income. So maybe between state and heads on that twenty grand you pay a cult 7000 dollars total tax federal state. But on top of your opinion of the 2000 dollars in penalties. That that. 20000 dollar withdrawal to help your kid is the most expensive money you've ever had your life Costa twenty plus not yet so you don't keep very much of that at all. The other issue is inheriting an irony in the south of that could be so lucky Dinah. I was looking into this too in terms of you know some planning of my own. You know if you pass. Your spouse will. Be able to roll that money into there so I kicked the bucket my wife gets my Harry yeah get a roll it becomes her it's her Irish that it seemed issues when you get it from another generation big issue then remember this tax bill is always is always do so it the government wants get their money sooner or later sooner or later what happens then is. The money will go to your children. And your children. Will be treated as if they're seventy or older meaning you know when you're seven and a half they've required minimum distribution so every year you have to take out. X amount what you need or not. Because the government wants to pay tax on the money eventually and the state. And the state once it's almost state and federal both guaranteed to get the money starting at seven even half the other start already that if you deferred beyond yourself and your spouse. Then and the clock starts ticking immediately on your children so let's think of a forty year old child when there's that irony. There's a distribution he has taken aged forty more at age 41 more at age 42. I'd say this the one good thing is I really these numbers on my he owned and looking at old yep god forbid we die and my son were inherit you know my wife and rebel died. If he started taking money out aged forty. And lived to be age 81. He the amount of money in the account would still be the same. Because of that the fact that it's growing 6% so you know it's it's a good generational savings tool that he but the tax comes due message does. Hey if you're a landlord or property manager I'm sure you've heard me talk about zero that's leader banks tremendous online ray collection program. I'm now excited to tell you about their brand new product called Z deposit. This is another free program which streamline the opening of tenant security deposit accounts three totally digital experience. With Z deposit landlords can open an account online invite tenants to enter their information and managed all of their security deposits. Z deposit. Also automate many of the compliance headaches for landlords such as generating account disclosure forms. And they will even send annual interest payments directly to the tents. Just call disease deposit team to get started at 7816418691. At 7816418691. Or visit them online and Z deposit. Dot net. Member FDIC leader bank a step ahead. So how much money does the average American jobs. Have saved up for emergencies you may not wanna hear this. Had not much. Experts believe that you should sock away. Six months worth of living expenses. For typical household in the major metropolitan area that's about 23000. Dollars that's always recommended that as he should have 23000 dollars and you know boiled it it's a Smart thing to do before we do anything else for the young families. It's imperative yup but I tell you know but he does and I'd be I guess you've ever did a poll question and then. Nobody does nobody keeps would you say 2323000. Policemen in in when they say it should be in a money market account linked to your check. Great day that that's yes how basic were talking we you want liquid cash because as a homeowner knew how many times that things happen to our homes. That you did not budget for. You know you'd be surprised how many high net worth people don't have six months in liquid heroin and I met my dad once telling me said no matter how much money you have. What this money aside. Separately in a checking account. So he can happen you'll feel guilty is sleep at night you'll sleep tonight in win like you have a thousand dollar you know repair your car of money like died really makes you angry in makeshift the tapped sometimes investments. But the average American has less than 4000. In savings. While 57%. Of adults have less than 1000 dollars so the majority of people if they have a thousand dollar problem with the car. Which happens like all the time they're in trouble now it's not good news not pretty. Oil prices continue to rice we're gonna talk about it is oil gonna hit 73 dollars a barrel today I don't know the answer to that but we'll talk about what. It means. For what you're gonna pay for gasoline that's next on the financial. Barry Armstrong. Chunks on breaking business news every day right here on the financial exchange radio network. Are you thinking about transferring your home to your children or protect it from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check to your former son or daughter in law just to buy back your own home hi this is Todd lucky and I want you to know that not only does transferring the property your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's in addition to your state income tax there better ways to own your realistic can protected from the nursing home keep it away from your children's creditors avoid probate cannot cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of released a call now for your free copy at 8668485699. Or download your immediately by visiting legally exchange showed dot com don't put your home at 8668485699. Or log onto legal exchange showed dot. Com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the words 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 to Obama called as he ran team at 781 at 6418691. 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. I this is very Armstrong you're getting ready for retirement you probably have at least some of your portfolio invested in an IRA or Roth fiery third differences between two both types of accounts are popular but there's an important change to the raw fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional higher rate to a Roth a higher rate after January 1 of 2018 that change cannot be and done if you have Iraq irate or worth thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Security suffered two securities America income members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated. We wanna hear through the thanks Stewart Barry to 63566. And let us know what you think about the stories we discussed your team to the financial exchange radio network. I'm old and jaded and I don't trust the saudis are second world. Oil prices are up 41 cents a barrel I'm worry. Bet they're gonna go hire John and he's gonna explain to us why they're not what they could miniature I mean anything could happen the next week or two were month. But there's something if you look at the futures market which is what predicts which is how much it cost to the liver oil and in September annals of December. The price per barrel is quite a bit lower in September and it's even lower than that and what's happened recently though is. The back end of the curve is actually finally moving higher which tells you that there is concern. But the longer term price of oil may be higher than we thought. But to put this in perspective the five year Brent forward price is up to 63 dollars and fifty cents a bear now so longer term. They're saying Brett would be about 63 dollars a barrel not eighty dollars a barrel Bob Dudley who is the CEO of British Petroleum BP. He commentary this week and he says he thinks long term. Or you will be between fifty and 65 dollars a barrel and I hope he's right and what that she was right now we've got the Iran situation we've got the Venezuelan situation. In a toss you think they're gonna solve the news like solution in sight for the debt is not going to be sanctions for ever in Iran. And then eventually however Venezuela works it out. They're going to be able to deliver oil because they produced a time of it so. These attempts were re make could be longer temporary situations. But their situations and eventually will resolve themselves. In at all but now we have a global synchronized economic recovery that they here's the wild card and figured it ain't you're trusting the saudis when he took action. If they're they wanted to public. Right the first time will oversee country go public because they are one industry all the capsule. Right he's that they're next industry because literally 98 or 99% of the Saudi Arabian con is if the they have nothing. And they can make a lot more money going public and eighty dollar crude oil and they can at. Would you say 505550. To 65 but the problem is this. The worst thing in the world oil moon is mighty dollar oil line elevenths because it kills the bad. People will change their behavior. Saudi Arabia wants a lot of people to buy oil Madden and wanna get a good price and they've decided that eighty dollars is the price we're. They can make a ton of money. And not hurt the economies if the economies of the world go bad. Saudi Arabia loses. And I don't know if consumption goes down they what they want to keep their mark and remember where talk about long term the US is now. Going into the tenth year of recovery making it the third longest recovery forever and I don't think the recovery will last for ever that's never happened before. At some point our demand slowdown. In the sting in the world they wanna do is do something's gonna bring us into recession then because that would kill the oil industry that we're doubted that make people forget we are. Just the United States. Right what do we represented the world's population 5%. And less than 5% yet we represent 20% of oil consumption. And end at I needed just think about yeah big if you think about that folks who is the population in the United States is 3000300 million change. World population is 707. Billion. So it's 5% testament to act right and yet we consume 20% of all the world. And we're doing more and more to conserve and were buying vehicles to get hot you know better gas mileage. Where you know insulating our homes were getting. More efficient heating process is even the occasional electric car even nikkei's electric car so we're doing a lot to improve I saw a story yesterday on electric cars. What are the reasons this sales of electric cars are so bad. Do you hate selling. Really if you talk to I heard an up profitable law because there's no service okay is that there that really that you talked to a but a guy that owns a dealership. The profit margins even on the vehicles are not nobody the rule. We eat on any vehicle right right because of the competition. But the thing that dealers make something like ninety year 95%. Of their profits come from the service department right right where you drive in right and we vault and you drive into bock and you sit in line. In the eagle watch that bad TV and drink their bad cop had an affair and wait two hours better partner and we with the electric car you know two. Yet in and the manufacturers make nothing to manufactures make a fortune and suvs. And the largest in history is in trucks the war larger does the more money to make. Make him again the electric now they're doing because they have to in there to do it it's the future. And they wanted to do roads on that right now it's not profitable Nellie they're paying too much for the batteries yet so. Yup they're doing like this it is they have to in the notes the future what do you make of zillow. Getting into the home flipping business. This is all nervous about this is crazy stuff I mean there they're calling it like net net Netflix has moved into originals. They're critics chemical instant offers and you would lie and he was a home seller to use the company's online database. To complete it compare. Potential buyers including zillow it's. Well in where this is attractive. Is the single through divorce rate in you don't wanna wait even now and hot market it takes ninety days so here again. With zillow you can go to zillow and they'll Sadie you. All right we think if you wait in ninety days you might get 380000 dollars for the mountain will buy it for 360. Right now. Will buy it for 360 winners like people who do that this is almost like the online version of we buy ugly house's right to say that that is what that that's the business. This zillow is gonna get into way I I'm not sure how a few. Yet and there's a lot of confusion about this and why people questioning you know should still be doing this because really that they're skating it's the whole weapons of great for the consumer. Great great great for the guy who gets transferred or has a job opportunity right yeah. All of a sudden you know we're here you're thirty year old son it's a fantastic job offer. In Palm Springs he does one deal with cell in his house back in Boston. It seems like a logical extension for company that has brought the business on line and they know that this and they've got the comps. And they can I mean they can now you're gonna get a good deal. Right ear is the seller you're gonna take less but you know due to expediency. And they know what a good deal news in and they do they ever date adjusted to database too I'm about a year ago along those numbers change quite a bit because my guess is John they're not buying. My guess is they're being very selective. And coming in. 1015%. Bull market but this is a backdoor way for them to be calm. Realtors in the way you think I think so because they're gonna be it would get its business of bypassing realtors say. Very let's say you hope they call their money on realtors. I know that but that's why it's a very sensitive thing because eventually is they bury your home. We'll take here is everybody you know zeal talkers on ancillary every time I walked by his desk at his computer fellows got so. Unity is a little it gave it its like we would would it Jim Cramer called foreign real estate or real estate port that's absolutely real estate one way of putting it. And if it is what it does. Price of oil was up forty once that's a girl I don't like ugly act the only guy in New England it's worried about oil being 7265. Dow was down 27 points John thanks covenant and have fun we're talking soberly yeah we'll do it again for sure we'll be back tomorrow with another edition of the financial expert.
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