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WBEN NewsRadio 930>Audio & Video on Demand>>8-5 The Financial Guys in for Sandy Beach Hour 3

8-5 The Financial Guys in for Sandy Beach Hour 3

Aug 5, 2014|

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Automatically Generated Transcript (may not be 100% accurate)

I'm -- welcome back. It's just too -- News radio 930 WB -- Mike Loomis and legal filling in the pool or seen the beach. Seen Andre reed in the whole -- sweet as Jewish mutual at some point in the hall of fame western your radio. I think hoses and the other ideas yes sandy beaches while we don't get invited al-Qaeda Armitage just once just once I wanna get an invitational and we've got the radio long enough concrete and if we're not good. You'd think they'd just -- -- Just audience so it's got caught up solid internal war -- just an invite to the event on the cocktail party gets up and now there's the rub elbows with some of these we don't. Have that us. For a little them. Preemption. Via yeah well sure you get your page treatment of -- that stuff like it's not a someday. Someday when it comes in the mail will have a big celebration will we party this -- -- in our own invitation part that's pretty good to get -- -- get ourselves -- -- The that the right. By the -- hop aboard 80309. -- -- 930 cellphone. 1806169236. And Chris Johnson answering the phone calls and and doing a great job helping us out -- of course Tony code hearing managing. The board and everything else and keeping some lines of thanks guys for openness of your. About fifteen minutes left and that he shows so something's up to -- -- call in if you need to throughout the week folks we've managed money for letting. And if you have a financial questions can't get through the show 6331515. Or office number. I use this as a resource. From the -- FaceBook. Lot of the stuff we talk about throughout the week will postwar FaceBook page. Ian during the week and show. But a lot of stuff we talk about you know me and I'll just throw articles back and forth in this funniest posts throughout the week. My -- emerald coast to -- FaceBook page some treatments on FaceBook where you had to go back the phones before we do I just. We've been talking about tax policy all Shelby talking about Obama now makes. And kind of ill effects -- about economics and I want to make sure people understand that weren't odd. Defending corporations run defending -- -- we're saying is is that when he takes so much wealth from the top 1% of the top 10%. Those of the job creators and -- have consequences and you know is it is not right for for General Electric to get -- -- forty billion dollars MP zero. But it's also not right for other corporations to pay you know forty to 50% and corporations are looking at these tax conversions because we have the second highest Malcolm is Japan lowered their -- corporate tax rate we have the highest corporate tax rates -- developed world. We should be trying to. Find ways to get those businesses to stay here with incentive not with a stack you know with the -- not with a stack. And here's -- -- -- of the consequences of the actions that we've taken. As far as demonizing business demonizing success the -- you know president coming out this week saying -- CEOs of stuff complaining and so on. On this the great article from -- -- daily and this is regarding the millennial stirred the generation jobless. Which is a serious issue because some of the economic lost time will never be recovered by the generation. Since march of 2007. -- for the Great Recession began the population. Of those aged twenty to 34 so called colonials has increased by almost four point three million to 64 million. That according to EIA data compiled by the Bureau of Labor Statistics. Only 44000. Of those new four point three million a little more than 1% have found jobs and -- that base that's unbelievable that is that is actually I mean I know Obama economics doesn't work we know that economy growing at one or 2%. I didn't recovering all the jobs from the last recession but that is. Alarming to me it has to -- 1% number -- -- taking into account to march 2007 employment population ratio for this age bracket that is the percentage of the population working. Of 76 point 38% 3.2 five million of them should have found jobs by now when alas. As a result that ratio has dropped from -- six point 38. To 71 point three sex or those with jobs now total 45 point 861 million in 2007 it was 45 point 817. Million so. Just a bit more than 400000 jobs even though that area has -- a population that wanted 34 and one meals if you will have increased by four point three million now. Those folks I can't find jobs and age bracket. Those starting off later and a career. Will impact their earnings and they're not worth for the rest of their life -- think about them the most important time when money you know for a okay. I know that younger you can do it the faster you can start the more you get one more double. At Wal-Mart double my ticket from a 100800. Or one million to two million enacting incredible now here's the here's the ripple effect of that okay. That's four point three million or roughly three point nine million because 400 of them the got jobs with a 1003 point nine didn't. That's of that many less people buying new homes that's that many less people buying furniture to put those homes upgrading those automobile upgrade their automobiles starting a family right. Mean think about how many jobs are are are in the construction sector alone. And unfortunately because these folks these kids really can't find jobs because the market so -- now why can't they find jobs while because businesses are creating jobs is just that simple. And again why are businesses creating jobs because of creating jobs in the regulatory compliance arena because they have to keep up with the regulatory environment that is brutal. The getting shaken down by the Justice Department to the tune of billions of dollars in a lot of cases. The tax burden has not gotten better it's gotten worse for them and so the funny whatever ways it possibly can and more money that comes out of the corporation and taxes. Is less money that corporation can buy a new a piece of equipment with the hire new employee who it in a car before so well. But we all pay for the roads and the bridges and and a and the and the and the water systems at these companies use the liquidity this -- him in the name of the caller. Okay ExxonMobil just last year Jim from him jump from Hamburg gem from -- Last year ExxonMobil paid 31 billion dollars and I actually at that I was I had a lot of -- -- -- that's a lot of other bridges yen and you can work you could live a thousand years -- make half a million dollars a year. In a thousand lifetimes you'll never pay 31 billion dollars in taxes if you lift a thousand years Jim you wouldn't pay one billion dollars in taxes. ExxonMobil did that last year now I'm not defending ExxonMobil. What I'm saying is those companies that paid. That 90% of the tax burden or those that top 1%. That pays 65 to 70% of the tax burden. Are paying for most of the roads -- bridges that YouTube -- actually going to. Things -- at the phone lines are number one as we can't afford to continue to lose yet some ovals because that's what we're doing right they're saying you know what I'm not going to pay thirty or forty billion dollars a year anymore I'm going to move overseas. And you're gonna Godzilla that and that is what's happening so we're much better off by saying you know ExxonMobil look at we're gonna -- -- tax rate. We're gonna bring you down to fifteen billion a year from thirty billion a year we want you to take that fifteen billion dollars in reinvest that. So -- look at the money back it but it's just gonna be reinvested through new ideas new technology research and development. We're gonna hire some of these these three points on the million kids that can't find a job right now. We're gonna get back to ordinary income tax at the right thing to do the other thing is because it's so difficult because there's so many regulations right now. And there's been many CEOs that are coming announcing an -- I started my business today there's no way I would've made it through all of a snob unfortunately I started years ago when it was easier to do. That a guy who owns the mavericks the guy who -- subway note these are big CEO's and you know I -- -- -- as you look a lot of these kids and they're saying you know I can't I cannot. Us when we left PaineWebber in 1999 the beginning of 2000 that we had to do that today I naturally would be able to do it be because of all the regulations because we have to have. Separate complaints to people just to look at the complaint stuff I don't know would be able fourth. I don't know it would have been much more difficult there's no question I unite and I've no doubt that we would have found a way just because I know our our our nature and -- -- -- look at things -- it more tough not Tony not a 23 now not a -- saying -- you know. We've got it we have a certain amount of disposable income and and if it's all gonna go to the compliance department of recycler com which I think about just our little company. The money jobs in the -- folks and we've got divisions now all over the country it and you know and and financial all over the country and that multiplier effect is huge just from our little company to try to -- C a colorless. It's in the punch -- in the -- Roy's been patiently waiting -- Hours there I'm dual certain pre -- technical and thanks for home outside it was quickly out of respect -- -- -- All I can't let up. First of all I'm tired ignorant. While both in rich people there -- -- -- carefully. They'd they'd not made a lot of money it's public -- and -- them. I thought there were people don't expect. Did did you know what's funny is if we do you look at the rich people who didn't earn it they're typically Democrats write the Kennedy family. They live off the trust fund of -- money and got them up. Now the other thing too is that. A lot in. All weary and all. Went -- the end up power or -- -- It. People are there. Top 1%. All. -- the way. -- Is people. Like oh that's right yup and so they. Make. They just regurgitate the talking points and a -- the operation -- here what are you know Occupy Wall Street tonight but I all but don't lose their well there. You know they were just totally misinformed that we actually had the up to we went on an interview. And we were asking them questions like what would be a fair tax rate in it would clear minded to hear these answers well. You know if they paid 25% B hepatitis a -- to -- fifty and it would just go right over their heads exit their eyes and body I realized all cable nobody allow. That and anymore but that just that is don't get it they don't even know what they're down there. Complaining and arguing about and that was scary thing they just have no clue. They just think well you know it said there was I don't know if it was CNBC here Fox News today but. There was. A girl who standing with the signs and it's a government of President Obama please help my non. And I I feel bad for that girl because what she's thinking is and in the mindset is is the government is going to help me. Right we played clips before about that lady who set. When Obama won I'm I'm so happy and my mortgage is gonna go away in my. Might dubbed them the fuel for my car is going to be paid for and the opposite happened and they're they're waiting for the government to help them and the only person that's gonna help them is down. And sometimes you need to encourage people help themselves -- in this state has done an awful job of doing that right -- will -- you 42000 dollars a year just to sit at home. You don't need to go to work. And and they make economic decisions level I would go to work I can make 32000 at work -- economic 42000 sitting at home on Belmont and food stamps everything else. And you know it it it discourages them from working we needed the argument has to be. The people that want to I don't care whether you're a police officer or firefighter teacher CEO. If you work on an assembly line he ending which feature paying taxes. And your DUI the 97%. In 97%. Of attacks that the tax flow in -- this country and we got to start to get the other 50% on board we cannot continue to pull away in ourselves. -- -- is that government is making all. That's what it liberal global. They. Need. The government this right like this one girl oh yeah. They need to government any failure right they don't need success successes and they want things I don't I'm up with a gut. I don't need the government right well they wanted government to level the playing field they want the government to make it fair for that and what would -- make it fair -- that is making unfair for somebody else and you know that's that's where I think they look for the government for is to try to level the playing field and the reality evidence is that we're not equal -- -- -- no matter how many times. The you know we've -- -- present doesn't Raleigh we'll does not we're not we all have different abilities Mike races cars don't have that reaction time I play drums he can't. Particular work they're a lot in the polar -- air fare and trying to scare when they're -- -- not sooner than it is it's. -- -- -- -- -- -- -- -- -- -- -- rejects or are heroes is it that -- -- editors were eighty million now. He's one of the yeah yeah. It's just like Michael Moore I'm -- Occupy Wall Street I mean. I I still get a kick out of that he's walking around with the other folks and Occupy Wall Street chanting you don't get one person and you know. You're the 1% -- I think it's just agencies say think about the hypocrisy of guys like Jon Bon Jovi right. Registered Democrat playing it all these Democrats functions yet he's gonna go together with a group and move the bills and attack them first one outsource yes the first one out that's -- again thanks for the call. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Yeah Julia and what you eat that one thing that I really order but one wore -- -- we were should be and where we get to do Russert. Got that it's that right -- it sure. Yup yup I put your money where your mouth as they never do though again they -- have heard TO they never do they could shut us all up and select. I wrote a big check to the guy I mean what they do they set up trust accounts and avoid taxes altogether there's a Texas they were a little on assignment but it Alexio. I quick commercial break Michael as volatile filling in for -- beach Marc Kevin and Jason you are -- back. Summing things up your -- to colony 230930. -- between zero. Don't and dialed rape accurate news radio 930 WB and you're just tuning in by the way got the financial guys normally on every Saturday from one to three. Now filling in for scenic beach though thank you sandy for a -- has to do this and of course some Winger for loans to do it's great time and -- up our -- so we really appreciate you. Trusting us with a Mike for three dollars here. Somebody hangs up your cubicle and 80309 field started -- on a soulful 10616. Point 36 not gonna grab a call here the -- of time yes I'm kind of I'm Jason cherry -- people waiting -- long time and cabinet Mark Green gets news. Right after -- What's going across all you know just before I go across -- hall you know one of the was looking at this USA today article from I think it was may of last year. Just rank in the top ten companies by income taxes paid Berkshire Hathaway Warren Buffett's company paid about seven billion dollars little bit under. And earning about 22 point 24 so he's in about and 25% or so. Income tax traders -- -- -- for his company you know we talk about. You know obviously tax raids and -- when you know look we've got to make it more attractive did just that simple because. Whether you're liberal or -- -- Republican or whatever every corporation lobbies for their benefit and their behalf -- Republican talk about. Why Warren Buffett is lobbying for the things he's lobbying for how it is in his best interest and -- -- News Corp. but we -- back. Yeah all right don't sort of dial who's ready and at thirty W Mike -- -- wiggle 8030930. Starry -- regional assault on 1806169236. You're hearing the voice of buffalo WDN. Call us now at 8030930. Cell calls are free and -- -- -- -- toll free -- -- 1806169236. -- welcome back. 43 minutes left in today's show Mike moments when -- filling in for sandy beach. -- news radio and I'm thirty -- having a blast so thank you sandy thank you to -- And hopefully we might be able to do this one or two more times before fall on its final and another. Vacation schedule but again I do appreciate you allowing us the opportunity to fill in Monday through Friday we managed money for a living for those of -- to endorse candidates shall thank you. Every Saturday from one to three. He and just you know Monday through Friday manage money in this is a great chance to with a little break from that and Tuesday morning so we we do appreciate that. Need -- southerly folks -- the F specific financial questions you could get through 6331515. Friend us on FaceBook a lot of stuff we talk about on. The show on Saturday and really just throughout the week will say that's a good article that's good article Mike Zimmer office will close to a FaceBook page from the tree friends on FaceBook. And uses as a resource against 633151. -- its -- -- back up to the phone lines here let's welcome Jason in cherry creek thanks for holding Jason cholera. Good guys and really -- with the deck circle you extend thinkers in a little Villa. You can do it. Well so often played myself and up and the organ and not that me being contractor in the wintertime both slow and you gotta go out you know negative twenty degrees just to put food on the table at but. Anyway. Other -- and I calls is. It's eight dollars nascent movement that's been very popular and -- sanctions. Against Roger have you guys been reading up -- about any of these things. What did you call the. Yet I'd take that into your Google search and I think you'll find a lot of articles the put up on your FaceBook page. Basically the -- nations Brazil Russia India China South Africa. Account for over at the world population right there. Starting -- 28 team are no longer going to be using the US dollar further international trade settlements will. And that's actually a very huge deal because 90%. Of all the hours out there are held. Outside of the United States you know basically that China won't buy oil from Saudi Arabia they got these dollars -- you excel and and the next here. That's no longer -- it. What's been going an attraction for awhile right I mean there's been you know different deals cut between China and Russia and then. In a certain countries I don't it will be replaced the we will be diluted per share mean. You know for many many many many years the US dollar was really is the only stable currency and of course with the creation of the Euro zone in the Euro itself and other countries coming along than you know -- China becoming and economic power house is well. I mean certainly it's only natural for as all countries have. More stable currencies as you know it's only natural for them to wanna trade in their own currency with each other vs having to use US dollars so I think in the future which again -- seat. Is not another currency that replaces the dollar for international trade. But you will see like. Let's say the the the Chinese yuan might account for 10% and the Euro in Euro might be 30% and -- dollar might be down to 60% or something like that. I don't think -- Alicea. Completed color reversal because -- some of these currencies are not I mean yeah they made those brick Mason may account for half the population they account for 10% of the world wealth so. You know you're talking about you know Russia which is largely dependent completely really not largely completely dependent. And oil and gas development and you know that part of their benefit and part of their growth has been because of our stupidity in this country. By now allowing things like I don't know the the pipeline from Canada to go to the gulf. Not allowing that opening up federal lands to oil and gas drilling luck if you wanna cut rush up at the knees right we're talking about. You know allow what do we do have a President Obama Brock Obama is completely clueless like -- Well what do I do short avoid -- war is not what I can do well there's a lot you can do Mr. President here's well I would I don't tell if I should why would you. I would be shipping liquefied natural gas to Europe as fast I could put ships and place. I would be building pipelines as fast I could because if you can get the the value and the price of oil and gas to come down. Ultimately you caught out the heart of what is the Russian economy right there on that and so. You know unfortunately in the last seven years or six years we had -- a president who just doesn't have a clue when it comes to economic policy and how to use economic policy. Is in and inform policy oftentimes but I think in the long term now. I'll -- you guys have gotten -- about -- doing everything you said we carried. Wells is -- -- thousand tons of 100000 deaths and an income tax which we desperately need -- -- and I think no matter what we do know that that of that diversification. Of international trade with different dollars -- different denominations will continue -- matter what -- Sure but the thing about it is we get free credit around the world everyone have to buy -- -- they have access to our dollars and obviously you guys are brokered by it to be a broker on Wall Street if you look at our numbers there's no way you went by -- by. I mean for the -- won't yield you get compared to the amount of risk you're taking a consultancy where we really are -- talk about taxes after the contact -- and. It just interest on the -- Well the the well no question and we says that when you look at the people buying the bonds and they're not buying him as a like you would a stock recently come by this company because of the gets me grow indict the -- it is trading vehicle right it's it's a way to park money. Until they get back into other asset classes whether that's corporate bonds stocks -- real. Every country every country that has gone against the dollar we've invaded I mean I wrecked Iran -- -- with sanctions everything starts with the nation's elite should be doing what happened rusher right now. We're provoking war arguing that not. Now of course we do something you can't let Russia walking to a country and confiscate part of their territory. They did they they they they they -- Crimea they did that's a fact. I don't care what they did in the past I know yes fifty years ago that Crimea was gifted to the Ukrainian people by former Soviet leader doesn't matter. The fact is by use of force they took the country you can't let that happen to do the same thing -- Georgia OK they. President potent in the Russians are really Smart they know weak leader it'll take advantage of it in President Bush's last year office in 2008. When he was basically a lame duck with nothing going on they invaded Russia and -- -- important invaded Georgia. Why because he knew we would do nothing and we were distracted and we -- crisis going on a what a great opportunity to keep more territorial way. That's how they operate. You have to understand the psyche you. Know it's not propaganda you have to understand the psyche of Vladimir Putin. Vladimir Putin thinks that to break up under the old Soviet guard in the 1980s and early ninety's. Was a disaster for Russia he wants to bring back the USSR. And could have been -- basically grow and expand the point. Were they bring back the glory days of the Communist nation -- they had. That's his mentality that's -- motivation and that's what he's been doing for the last basically a decade or longer. Again. A lot of it is the western media and. Story on a Georgia thing for example it would actually Georgia wouldn't be it it's its own people and do. The sovereign nation. Russia violated third third third there borders have been ill just because Russia claims reporters are -- doesn't make itself let me just hold of -- showed I had the debate with a further but we're. We're -- -- all other judges of the late in the second. Half -- accident -- the fifty that he or even before that we got -- -- up on -- existing and he got the financial guys like almost a -- here for about another fifteen minutes -- so. Two -- onboard 80309. Real star -- regional cell phone. I have to plug this is gonna text and my nephew Zack Harrington at Crosby field in Taiwan that just won the bronze medal at 200 yard track -- -- 400. Under your Sony on the Internet. Yes hundred yard dash. Very little that he's -- -- running under here that certainly relations 400 or I could run and I just don't think -- be very quick all the checks that sets a good for use that you have the plug element that we're gonna I would just. To say Jason's been -- I I have my mother -- -- -- always make mistaken and I always there are always good college you've been talking about the dollar crashing for the last five years -- calling -- -- -- -- filled -- for -- -- yeah but that's OK I mean I -- you know certainly I think we're all worried about the dollars no -- dollars and -- no question. I just don't have the way to wake up one days we value -- Mattel because we have the best propensity for growth in the world. Even know our debt to equity racial or start with with -- scary idea to do with their occasional question and I think four or on the same page we -- calculus is balance a budget let's live within our means. And that means that you know that. Goes back to that the 50% ninety. 50% of the population is paying 97% of the taxes of those of you out there. That that make widgets drive trucks teachers firefighters police officers CEOs. You're paying 97%. Of the tax burden we need -- need to change that little that we need jeans and a lot tub into a quick break. Michael on the -- will filling in for CD beach marking Kevin -- up on -- 80309 real Styron and freezer on assault on. 1806169236. Just having Michael almost a little filling in for sandy beach only a few minutes left -- today show to hop on board we've got -- Kevin -- -- 80309. Real stock 930 on a cell phone 806169236. Peter -- in the -- dishonest attacks to scrape it that's I mean it's really true -- the social program is as a job. Yeah and that was Ronald Reagan and that's that's the truth right -- mean. Now that certainly there's a lot of folks out there that need things like unemployment insurance because they're in between a job in between careers and they and they need that help to get from one place to the other but. Boy there's a lot of that 50%. To sit around waiting for the government handouts and they have no intention. Of ever doing anything else with their lives and I we we filled -- for powerless we've early last week it was talking about. On who's driving from. On Seneca street from transit road -- material all the way into east of -- -- he just drive down Seneca street. For some help wanted signs some one of them is the CDL. License truck driver from looking for the other was a plumbing company -- looking for -- think. How can that be I mean he no wind when there's folks that are complaining that. You know Wal-Mart isn't paying them enough to be a cashier and it's not enough to buy the 300000 are also they wanted. Why is that that they don't ever train themselves to try to track. Believe that that truck -- got to be I would think more than minimum wage right to drive a truck -- you pummel Plummer. You know train yourself and and there are some opportunities out there is no question lots of opportunity a lot of opportunities it could be a lot. More I think that's the the frustrating part when. Again when you pay people not to work you'll have more people not working is just that simple unfortunately we've made in this state especially. Well you know whole system out of paying people not to work and and -- and that's unfortunate we talked about the impact of -- of the younger generation. It's devastating you're talking about for let's say 440000 new jobs for four point three million new people new millennium between ages always does seem as thirty more realistic because that you're talking about delaying their earnings potential for the rest of those those kids will never recover okay. So study getting a job a 22 getting out of college they -- at home for six years don't get employed -- -- 28. That's life altering for these kids life altering for the rest of their lives their earnings will be lower their network will be lower from -- on average just some will do terrific. But you know that the old -- and have a tougher time -- those savings and be delayed. And that has that ripple effect right. They're delaying their home purchases -- delaying starting families the delay upgrading their cars I mean you know there's a lot of that has a ripple effect that just flows right to the economy. As a result you know we jump up and down we get the first estimate of three point nine which by the way folks. I will I will Bible backed something dinner whenever that. That was a hell we get the next two revisions that is slowly gets back down to three you know what looking at two point 9% by timing to the second and third GDP -- get. The same is true by the way the argument we have some of the the liberal callers listen to the station and listened -- because apparently they are happy being matter whatever but. You know -- call puts it well. You know Obama look at how good the stock market is -- I disagree in the stock market has gone from 141000 to 6800 back to 17165. That's not a great rate -- return when you look at other recessions. And you look at where. The Dow Jones Industrial Average was in 1981. And where it got to twenty years later by 2000. They're talking about a ten or twelve fold moved. That would be like us going from about 12221000. That's a bull market we'll think about ninety that's 78910%. Growth rates in the US economy -- not water -- the strike me look at the growth in the eighties and his unbelievable as far as job creation economic growth and songs and analysts because of calls earmark in the buffalo thanks for holding calories -- Okay. Put a question. I'm an -- yet folk art person there. I'm in education. Com. I started like twelve years ago putting in two oral the oral creepy yeah. And -- pretty much everything in the market. Five it's like I was the only thing. You know ten dollars for the I'm like -- -- -- -- go -- years ago I call the guy and to come to the rule and because about it remember what you're getting killed. He said. -- for a three being. He shouldn't be making any text that by the authorities are getting killed in Texas we should put more into your for a through being OK those -- and Exxon's. I'm. So now putting in 12100 -- and it. Guaranteed interest 3% which is that you can't get anywhere right now hold you -- Forty and I got nine your book collecting retire. And -- in the I mean maybe go beyond that put -- or. He's really can't pick it out -- five and retired. Bill. That XX XX 59 and half. Yeah but quote -- being that you could retire if you -- -- earlier -- you -- autos and more importantly -- forget the -- for a second though let me let me just say -- who is really important. Here's we need to -- V you know it's not a mean there's no magic age right people's civil 62 on and retired 59 I can touches 62 and also starting to get all that are all the -- We need to do is take a look at your expenses. And figure out what your lump sum we need to grow to that you need that you could say to retire and draw the connection that might be 56 in might be 66 -- -- 76 -- no idea. But don't forget the ages because that's gonna get in trouble you know to get that I your -- right now are does that -- -- just said. So you look at your current income needs OK so you say. I am living on 50000 dollars and I want to retire living on 50000 dollars. I'm viewed directory teacher you're gonna have some sort of a pension right. So that pension. -- -- -- -- -- pathetic hypocrite because there were you when my. Thirty years of OK you know I get sick you know. OK so so here's what I want to do figure relic that pension is and you need to figure out what your retirement gap that is the difference between what you wanna live on and what that pensions gonna give you. And then you need to figure out what kind of a lump sum you need to grow to be able to give you that income for the rest of your life without dipping into the principal because we don't know how long you're gonna lift select keeping their principled -- that's going to be really important. And then you do it backwards you say OK if by earned 3%. Putting away 12100 dollars a month. Is that gonna get me to that number of the answers yes you're good at the answers no. And you need either step up and be a little more growth oriented or put more money away if you want to call us throughout the week. And I'll send you some of our homework okay. 6331515. Ask for my economic tributes on the home -- out okay. -- pride thing we appreciate it idea and ready to cabinet posts are suddenly. But that's you know the thing is everyone's got these magic numbers and break it down and half 62. Forget all for you know if you retire when you have enough money to retire expression today we believe we are happy clients that are living to -- 95 all -- -- and it up and -- -- -- outside academia OK well when you get it right -- and did -- in fact -- planet right to that desperate in effect helped block -- week off before so we go to Vegas to check in -- of that so when you do retirement planning pretend like you're gonna live forever yes. Because that's what can achieve your goals and objectives thank you so much sandy beach. Tim Winger. Tony Caligiuri. Chris Johnson thanks guys appreciate all the help and hopefully we can fill in the future catch us on Saturdays and the guys won the three if it is from the week's extreme three. 1515. Take care indelible -- accurate news radio 930. -- --

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