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Why Lazy Cash Kills Your Wealth - Dale Smothers #6430 · Financial Survival Network

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  Speaker 2: Welcome. You are listening to and watching the Financial Survival Network.
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  Speaker 2: I'm your host, Kerry Lutz. Dale Smothers is with us now. Dale,
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  Speaker 2: it's great to have you back on the show. What
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  Speaker 2: is going on with the economy here, and why should
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  Speaker 2: we be worried, or shouldn't we? Sure. Yeah, it's good
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  Speaker 2: to be here.
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  Speaker 3: And clearly, you know, Kerry, we are.
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  Speaker 3: In the midst of some interesting times, to say the least.
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  Speaker 3: We get a lot of negative news, a lot of
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  Speaker 3: negative publicity on just about everything that's done in Washington
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  Speaker 3: at this point is somehow spun in a negative way.
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  Speaker 3: But the economy remains resilient, and it remains resilient in
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  Speaker 3: spite of inflation rising higher than we want it to,
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  Speaker 3: in spite of the rates rising higher than we want
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  Speaker 3: them to, and in spite of oil staying higher than
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  Speaker 3: we want it to. The war in Iran, in my opinion,
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  Speaker 3: was probably an inevitable clash of powers, especially if you
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  Speaker 3: consider China, Russia, and Iran kind of all commingling together, perhaps,
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  Speaker 3: to have this master plan. If anything, I think Venezuela
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  Speaker 3: was the first move that essentially upset that plan. And
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  Speaker 3: then our missiles sent over to Iran definitely upset that plan.
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  Speaker 3: And so I think America pretty much was a preemptive
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  Speaker 3: strike here on something that was probably going to come
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  Speaker 3: over the next decade. And if you think about that
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  Speaker 3: from a standpoint of in a decade, does Iran have
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  Speaker 3: a nuclear weapon? The chances are yes. And then the
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  Speaker 3: threat becomes even more multiplied. You know, we're dealing with
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  Speaker 3: it right now, knowing that they don't have the ability
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  Speaker 3: or at least believing they do not have the ability
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  Speaker 3: to send a nuclear weapon over here. If they were
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  Speaker 3: a nuclear power, Kerry, not to get into the politics
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  Speaker 3: of it all, everything would look entirely different. So back
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  Speaker 3: to the economy. The economy remains resilient and oil remains elevated,
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  Speaker 3: but the consumer continues to spend Labor market stays relatively strong.
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  Speaker 3: I wouldn't say it's as strong as it's ever been,
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  Speaker 3: but it's certainly not falling off of a cliff. And
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  Speaker 3: we just got a revision of the GDP. Looks like
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  Speaker 3: the GDP is growing more than was what once was expected.
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  Speaker 3: I think the revision went from 1.5% to 2.2% for
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  Speaker 3: the second quarter. That's great. I mean, that's not ideal.
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  Speaker 3: It's not where we would want it to be. But
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  Speaker 3: if you told me back in January that oil was
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  Speaker 3: going to be over $ 100 a barrel, that the 10-year
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  Speaker 3: was going to be over five and a quarter, I
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  Speaker 3: would look at you and tell you we were probably
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  Speaker 3: in the midst of some sort of recession or at
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  Speaker 3: least headed that direction. That is not the case. That's
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  Speaker 3: a positive thing for the U.S.
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  Speaker 2: Economy. So what's causing it? Is it the AI revolution?
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  Speaker 2: Is it just there's no other choice and everybody knows it,
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  Speaker 2: so they're flocking to the U.S.? What's the cause.
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  Speaker 3: Of it all? You know, actually, there's some validity to
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  Speaker 3: that for sure that, you know, what is it in
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  Speaker 3: the in the land of the blind? The one eyed
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  Speaker 3: man is king. You think about you think about where
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  Speaker 3: we are as a country, our debt to GDP is
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  Speaker 3: higher than it needs to be for sure. But when
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  Speaker 3: you look at our debt and you look at how
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  Speaker 3: we spend money, you look at our strength of our
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  Speaker 3: of our economy. We are we are amongst the strongest
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  Speaker 3: nations in the world and we are the country that
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  Speaker 3: currently still has the petrodollar. which is the global currency,
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  Speaker 3: that definitely helps position us in a place of power.
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  Speaker 3: And again, going back to Venezuela, I think that that
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  Speaker 3: in itself solidified that petrodollar for another decade or two,
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  Speaker 3: and it was close to an end. I mean, politics
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  Speaker 3: comes into this for sure because it's all a geopolitical
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  Speaker 3: arena that we behave in. But when we think about
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  Speaker 3: the stock market specifically, artificial intelligence build-out, artificial intelligence adoption,
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  Speaker 3: Artificial intelligence integration has allowed these companies not only tech,
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  Speaker 3: but you've got health care, you've got financials, you've got industrials.
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  Speaker 3: They are benefiting greatly from artificial intelligence and earnings continuing
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  Speaker 3: to climb means that investors want to put their money
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  Speaker 3: where earnings are being made and the stock market goes higher. Yeah. Yeah.
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  Speaker 2: So so we're living in the best of all possible worlds,
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  Speaker 2: aren't we?
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  Speaker 3: Yeah, you know, it is incredible to think if we
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  Speaker 3: can harness artificial intelligence and, you know, I do not
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  Speaker 3: try to follow the, you know, right wing wants AI
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  Speaker 3: to be completely unregulated, left wing wants AI to be stopped,
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  Speaker 3: essentially pull the plug. I don't think I fall on
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  Speaker 3: either ends of those spectrums. Artificial intelligence has a way
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  Speaker 3: to benefit the world. We live in some incredible times.
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  Speaker 3: Cancer likely is close to being resolved. Whether or not
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  Speaker 3: we'll see that, that's a different conspiracy theory. It's a
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  Speaker 3: lot of money to be made in the healthcare industry
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  Speaker 3: treating an incurable disease. But artificial intelligence probably needs to
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  Speaker 3: be programmed correctly with morals that would cause it to
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  Speaker 3: support the human race, not destroy the human race. Artificial
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  Speaker 3: intelligence currently is being traded in the stock market on
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  Speaker 3: three main fears. There's the fear of missing out. It's
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  Speaker 3: when everybody thinks, oh, artificial intelligence stock's going higher. I
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  Speaker 3: got to buy it. Then there's the fear of losing
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  Speaker 3: it all when artificial intelligence stocks fall in price and
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  Speaker 3: people want to sell. And all of this is being
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  Speaker 3: driven by the fear that artificial intelligence will destroy us all.
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  Speaker 3: So those three main fears kind of become a cycle
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  Speaker 3: and it's created what we've seen over the last year
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  Speaker 3: and a half to two. In our opinion, I think
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  Speaker 3: that artificial intelligence is a place where we can make
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  Speaker 3: some money. Now, perhaps super intelligence, if we rename it.
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  Speaker 3: But there is money to be made here. The inventors,
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  Speaker 3: the crafters, the programmers of this have to instill morals
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  Speaker 3: in these codes or we will be in a dangerous place.
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  Speaker 3: And I like to think of it almost like a toddler.
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  Speaker 3: It's learning and it's got a playpen. And in their world,
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  Speaker 3: they call it a sandbox. And if it breaks out,
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  Speaker 3: we've got to figure out a way to punish it,
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  Speaker 3: to teach it, follow the rules. We are the parents
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  Speaker 3: in that analogy. All right.
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  Speaker 2: Well, I like the analogy. Hopefully our kids don't turn
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  Speaker 2: into juvenile delinquents and murder us all when we're sleeping
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  Speaker 2: in bed soundly one night, right?
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  Speaker 3: It's very true. And they'll grow quickly. That's for sure.
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  Speaker 3: It already, we see that.
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  Speaker 2: Oh, well, the, The speed with which it's happening, Dale,
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  Speaker 2: you know, like just one area that I've been looking at,
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  Speaker 2: and I'm not a financial advisor or anything else like you,
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  Speaker 2: a planner, but I'm looking at the GLP drugs, the peptides. And,
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  Speaker 2: you know, you talked about curing cancer. Well, they might
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  Speaker 2: very well prevent a lot of it. We don't know yet.
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  Speaker 2: The testing is encouraging, but lowering dementia, getting rid of
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  Speaker 2: fatty liver disease, which is a primary incident, shall we say,
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  Speaker 2: of type 2 diabetes, eliminating type 2 diabetes. And we
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  Speaker 2: haven't even seen the triple agonist come in, which is
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  Speaker 2: the next one from Lily. We read it too tried.
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  Speaker 2: If I have said that properly, if not, I stand corrected.
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  Speaker 2: But that one, because it addresses the glucagon problem, receptor,
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  Speaker 2: basically just eliminates visceral fat in the body, the fat
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  Speaker 2: that's in your organs and around it, which causes so
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  Speaker 2: much bad stuff. You know, the world is not prepared
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  Speaker 2: for this, and they're going to have four, five, ten
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  Speaker 2: agonist peptides coming out of there within a very short
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  Speaker 2: period of time, which will effectively get rid of You know, obesity,
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  Speaker 2: most of the modern perils of health, it's going to
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  Speaker 2: eliminate it. I don't think I'm being hyperbolic in saying
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  Speaker 2: this because the research really is encouraging and, you know,
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  Speaker 2: it's fact-based, it's science-based. You know, I'm not saying trust
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  Speaker 2: the science, you know, because you know where that gets you.
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  Speaker 2: But that affects life insurance companies. There's a bunch of
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  Speaker 2: obscure little companies who are going to benefit even more
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  Speaker 2: than the Eli Lilly's and the Norse Novartis, whatever the
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  Speaker 2: name of the company is. You know, it's a revolution
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  Speaker 2: taking place. And our society is completely unprepared for it
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  Speaker 2: because in the early 1900s, we had pure water, sanitation, sewage.
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  Speaker 2: And that was responsible for more people making it to
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  Speaker 2: their 60s and 70s than all of the medicine created
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  Speaker 2: in the 20th century. This is as big as that
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  Speaker 2: because it has the potential. I don't want to say
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  Speaker 2: it's definite yet. We don't know it. But early indications,
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  Speaker 2: it's a mortality eraser. So where does that leave your
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  Speaker 2: insurance companies? Back at the turn of the 20th century,
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  Speaker 2: insurance companies were... basically figuring you'd live 40 and you
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  Speaker 2: were doing good. And then all of a sudden, it
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  Speaker 2: went up to 60 and 70 and their profits skyrocketed.
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  Speaker 2: So potentially the really well-run insurers and reinsurers could be
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  Speaker 2: looking at major, major windfalls here, Dale.
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  Speaker 1: Sure.
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  Speaker 3: You know, and you think about.
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  Speaker 3: Everything you just said was an incredible way to look
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  Speaker 3: at this because it changes not only the healthcare industry,
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  Speaker 3: it changes that life insurance industry. It changes the finance industry.
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  Speaker 3: It changes the banking industry. 40-year mortgages, 50-year mortgages may
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  Speaker 3: become a thing that allow more profit to be made
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  Speaker 3: over the course of the lifetime. It's a total shift
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  Speaker 3: of humanity, and if done correctly, it will create some
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  Speaker 3: amazing times to live in. There is a lot of talk,
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  Speaker 3: you know, just a couple days ago, you saw Donald
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  Speaker 3: Trump and a lot of the AI leadership that was in...
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  Speaker 3: I saw that. I can't recall. I don't think it
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  Speaker 3: was the Rose Garden, but they were all in a
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  Speaker 3: meeting together talking about... artificial intelligence, super intelligence. And it
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  Speaker 3: was Elon Musk that stood up and started talking about,
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  Speaker 3: you know, forget universal basic income. Now it's universal high income.
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  Speaker 3: I'll take it. Yeah. I mean, all of this is
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  Speaker 3: so science fiction, it sounds, but there's a lot of
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  Speaker 3: change to come and we've got to be prepared for it.
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  Speaker 3: From where we stand working with predominantly retirees, those who
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  Speaker 3: are close to retirement, 59 and a half, 60 and older, right?
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  Speaker 3: We're looking at positions where we know we can make
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  Speaker 3: some serious money with money that needs to be hunting
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  Speaker 3: for really good growth. We're looking for stability in places
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  Speaker 3: where we need income. You might look at treasury yields.
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  Speaker 3: You might look at options. You might look at fixed
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  Speaker 3: index annuities, which believe it or not, you mentioned life
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  Speaker 3: insurance companies. That is one in particular that might actually
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  Speaker 3: be impacted a great deal is the annuity industry, pensions, annuities,
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  Speaker 3: social security. These types of income streams are necessary inside
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  Speaker 3: of a portfolio. And if you've got a retirement account
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  Speaker 3: that you're currently, to our listeners, if you're currently concerned
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  Speaker 3: about the stock market and you are not at least
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  Speaker 3: putting some of this money into what is to come
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  Speaker 3: in the future, it's kind of one or the other.
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  Speaker 3: Either AI is going to change the world for an
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  Speaker 3: incredible place or it's going to make the dollar bill useless.
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  Speaker 3: And in our opinion, And useless meaning we're dead, right?
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  Speaker 3: In our opinion, we're leaning more towards a beautiful future.
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  Speaker 3: There will be hiccups. There will be disruptions. This is
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  Speaker 3: why you've got to start owning these companies with that
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  Speaker 3: money that's in your accounts. Be okay with the ups
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  Speaker 3: and downs. Make sure you have a strong plan. Put
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  Speaker 3: the money where you need for income. Put it in
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  Speaker 3: a stable place. But let some money go working in
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  Speaker 3: these companies because you can make some serious money along
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  Speaker 3: the way.
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  Speaker 2: I couldn't agree with you more, but you've got to
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  Speaker 2: be careful. because you will have, I remember the first
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  Speaker 2: stock I ever invested in many, many years ago, over
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  Speaker 2: 40 years ago, and it was called Solar Industries. And
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  Speaker 2: I said, solar is the future, right? This is where
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  Speaker 2: it's all going to go to. And it turned out
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  Speaker 2: they made like clay pots or something like that. And
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  Speaker 2: it was a complete scam. They just named their company.
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  Speaker 2: But I will tell you that every serious company out
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  Speaker 2: there is using AI or plans to or has to,
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  Speaker 2: there's no choice. There is no choice.
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  Speaker 3: And artificial intelligence is likely here to stay. Quantum computing
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  Speaker 3: is maybe that next frontier. When you start talking about
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  Speaker 3: equating this to the solar is the future type of strategy,
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  Speaker 3: it would almost be a little bit of a fallacy
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  Speaker 3: to think of of you investing back then as solar
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  Speaker 3: is the future and then looking at artificial intelligence and
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  Speaker 3: feel like, well, I don't want to put my money
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  Speaker 3: into artificial intelligence because it might not be here 10
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  Speaker 3: years from now. No, no, no. It'll be much more
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  Speaker 3: than it is today 10 years from now. Now's the
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  Speaker 3: time to own those companies. And again, I think if
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  Speaker 3: you're looking at a long-term retirement, if you're in your
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  Speaker 3: 60s or 70s, it's very likely that 20 to 30
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  Speaker 3: plus years of retirement is possible for you. Be prepared
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  Speaker 3: for that. Inflation is one of those things variables that
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  Speaker 3: we've got to make sure we're guarding against. Uh, and
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  Speaker 3: I know that you've got an exciting project around inflation.
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  Speaker 3: A lot of things, um, you know what the dollar
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  Speaker 3: does over time.
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  Speaker 2: Loses value.
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  Speaker 3: You got to make sure we're protecting against that.
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  Speaker 2: I'm glad you mentioned that, you know, I should just
• 14:35
  Speaker 2: put it up here on the screen real quick.
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  Speaker 3: Absolutely.
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  Speaker 2: So all of you can see it. It's an incredible, incredible, uh, uh, website. Hey, and, uh, Yeah, luckily,
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  Speaker 2: 40 years of programming. And here it is, the dollar
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  Speaker 2: time machine. And I was born in 57. So each
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  Speaker 2: dollar then is worth $ 11.
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  Speaker 3: 79 now.
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  Speaker 2: Or we could put it the inverse. A dollar in
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  Speaker 2: 2026 buys what? Eight and a half cents did in 57.
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  Speaker 2: We got housing, gold, silver, Dow Jones. with invested dividends
• 15:18
  Speaker 2: and without. S & P with and without. Bitcoin debt
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  Speaker 2: to GDP when I was born and it was high
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  Speaker 2: then was 57.5%. And that was when people still cared
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  Speaker 2: about the national debt. But anyway, it's all there at dollartimemachine.com.
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  Speaker 2: Take a look at it. And yeah, we're headed for
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  Speaker 2: some amazing times. So one final piece of advice, Dale,
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  Speaker 2: from you.
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  Speaker 3: I would say in exactly what you were just talking
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  Speaker 3: about with the dollar time machine, you've got to make
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  Speaker 3: sure that you are protecting against the loss of purchasing power,
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  Speaker 3: which is inflation. And that is exactly why investments exist.
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  Speaker 3: Put that money to work. Don't set on idle cash.
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  Speaker 3: Lazy cash loses you money. Get it out of the house.
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  Speaker 3: Be a good master of it. Put it to work
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  Speaker 3: and it'll do good things for you.
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  Speaker 2: Yeah, there's very few times in history where holding cash
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  Speaker 2: really makes sense, where it actually increases in value. That's
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  Speaker 2: during deflationary times. And we're in the world of central
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  Speaker 2: banking now. What the dollar time machine tells you is
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  Speaker 2: cash is trash as long as you don't need it.
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  Speaker 2: But assets are the thing that perform.
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  Speaker 3: Sure. Every dollar needs a job, Gary. If you've got $ 5, 000, $ 10, 000, $ 20, 000
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  Speaker 3: setting for comfort and security and rainy day, I get it.
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  Speaker 3: But if you've got $ 200, 000, $ 300, 000, $ 400, 000, $ 500, 000 or more
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  Speaker 3: setting in cash just because you're afraid of losing that money,
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  Speaker 3: I would strongly urge listeners to go ahead and start
• 16:58
  Speaker 3: putting a plan together for how they can make some
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  Speaker 3: serious money in this AI build-out.
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  Speaker 2: Yeah, because just look at the bottom there. That's the
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  Speaker 2: debt clock. And That's what you see going on there.
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  Speaker 2: That thing is moving faster than the numbers at a
• 17:16
  Speaker 2: gas pump right now. And that's what you need to
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  Speaker 2: be thinking about because when you have a job, a paycheck,
• 17:26
  Speaker 2: then you are a victim of inflation. When you have assets,
• 17:30
  Speaker 2: if they're properly positioned, you're a beneficiary of it. And
• 17:36
  Speaker 2: you just have to look at the Dow. with, or
• 17:42
  Speaker 2: S & P better yet, with a dollar when I
• 17:45
  Speaker 2: was born is worth $ 1, 341 now. No matter what inflation was,
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  Speaker 2: it didn't go up 1,341 times. Maybe it went up
• 17:55
  Speaker 2: really 20 or 30 and the CPI doesn't show it.
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  Speaker 2: But I would argue the effects of inflation aren't as
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  Speaker 2: bad as they're put out to be because the productivity
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  Speaker 2: that occurred during that time opened up opportunities that never
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  Speaker 2: existed in pre-inflationary times. Look, Dale, if we didn't have inflation,
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  Speaker 2: if the government wasn't printing money, we wouldn't have the
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  Speaker 2: AI revolution now. We would have missed the last 10
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  Speaker 2: or 20 technological innovations that happened largely because of the debt.
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  Speaker 2: So I think that's what you need to consider. How's that? Hey,
• 18:37
  Speaker 2: Where do we find you these days? How do we
• 18:39
  Speaker 2: connect with you on the web, et cetera?
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  Speaker 3: Yeah. So we have our own podcast as well. It's
• 18:44
  Speaker 3: the Retirement Matters Podcast. You can find us on Apple, Spotify, YouTube.
• 18:49
  Speaker 3: Our YouTube channel is RD Smothers Wealth Management. Go to
• 18:52
  Speaker 3: our website, rdswealth.com. It's probably the best way to get
• 18:55
  Speaker 3: in touch with us. We'd be happy to help put
• 18:57
  Speaker 3: some assets to put some cash to assets and get
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  Speaker 3: it working for you clearly. But Carrie, I always enjoy
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  Speaker 3: this time, this chat with you. It's a like-minded conversation.
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  Speaker 3: And at the end of the day, we've all just
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  Speaker 3: got to be able to know that we're laying our
• 19:13
  Speaker 3: head down at night, doing what we can to make
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  Speaker 3: this world a better place, making it better than when
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  Speaker 3: we found it, and benefiting from all of the things
• 19:21
  Speaker 3: that are being formed and created, making sure we're taking
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  Speaker 3: part of it as much as we can, but ready
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  Speaker 3: to head to our eternal home, perhaps. if we were
• 19:31
  Speaker 3: to not be here any longer. So I appreciate the time, Kerry.
• 19:35
  Speaker 3: It's always a pleasure to chat with you, man.
• 19:37
  Speaker 2: Likewise, Dale. Appreciate you coming on. Any questions or comments
• 19:40
  Speaker 2: for Dale, myself, shoot me an email, kl at kerrylutz.com. Dale,
• 19:46
  Speaker 2: we'll talk to you again real soon. Be well.
• 19:48
  Speaker 3: Good to see you, brother. Yes, sir.
• 19:49
  Speaker 1: Thanks for listening to Kerry Lutz's Financial Survival Network, your
• 19:53
  Speaker 1: solution to today's trying times. For the latest, go to financialsurvivalnetwork.com.
• 20:00
  Speaker 1: Financial Survival Network, now more than ever.