Latest / Money Matters with Greg / Episode 195: How AI Driven Productivity Could Reshape Inflation And Markets

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Episode 195: How AI Driven Productivity Could Reshape Inflation And Markets · Money Matters with Greg

• 0:01
  SPEAKER_01: Welcome to Money Matters with Greg, where we dive into the money conversations shaping your life.
• 0:08
  SPEAKER_01: From investments to estate planning, insurance to taxes, we cover it all with a fresh perspective.
• 0:14
  SPEAKER_01: Join Greg and his guests each week to get inspired and take control of your financial future.
• 0:20
  SPEAKER_01: Let's get started.
• 0:22
  SPEAKER_01: Securities and investment advisory services offered through LPL Financial, a registered investment advisor, member PinRedis IPC.
• 0:48
  SPEAKER_00: It's a wealth management firm here locally in Valparaiso, Indiana, and the show is Money Matters with Greg.
• 0:54
  SPEAKER_00: We've gone on 195 episodes, I believe, here.
• 0:58
  SPEAKER_00: You can find us anywhere you pod, as well as right here, WVLP103.1 FM, or locally here in Valparaiso, Apple Spotify, you name on as far as the podcast goes, our YouTube channel as well.
• 1:11
  SPEAKER_00: We talk money on this show, and the show is about money.
• 1:14
  SPEAKER_00: And anyway, we can help you save some, grow some, and uh make some more money.
• 1:19
  SPEAKER_00: Is the mission of the show, whether it be investments, reducing your debt, overall just financial literacy conversations and multiple different avenues with guests, as well as having to put up with me for another show.
• 1:34
  SPEAKER_00: So thanks for being here.
• 1:35
  SPEAKER_00: Thanks for listening, and really appreciate our family at WVLP103.1.
• 1:40
  SPEAKER_00: You can find us at WVLP.org as well as for the website to stream.
• 1:47
  SPEAKER_00: And you can also find us at uh TuneIn Radio as well.
• 1:50
  SPEAKER_00: Many great shows here at WVLP and uh just happy to be a part of it, and I'm glad they put up with me.
• 1:56
  SPEAKER_00: And hopefully I'm able to help out a little bit uh with the viewers and uh the listeners.
• 2:02
  SPEAKER_00: So uh registered financial advisor with as a fiduciary here at LPL.
• 2:07
  SPEAKER_00: LPL Financial is our broker dealer.
• 2:10
  SPEAKER_00: And real quick, want to be able to mention that the opinions voiced in this program are for general information only and are not intended to provide specific audio or advice or recommendations for any individual to determine which strategies and investments may be suitable for you.
• 2:26
  SPEAKER_00: Consult your appropriate qualified professional prior to uh making any decision.
• 2:32
  SPEAKER_00: And third-party guests are not affiliated with LPL Financial or Feral Wealth, LLC.
• 2:38
  SPEAKER_00: Uh so that is my disclaimer.
• 2:40
  SPEAKER_00: I'm sticking to it.
• 2:41
  SPEAKER_00: We are finally up and running here in northwestern Indiana.
• 2:45
  SPEAKER_00: I want to reach out to, or at least mention to everyone uh that has gone through some really tough times here, as well as uh with their families with no electricity.
• 2:56
  SPEAKER_00: We had some brutal storms come through here.
• 2:59
  SPEAKER_00: Many people have been without power for weeks, if not uh days, and it has been tough.
• 3:06
  SPEAKER_00: So we've been unable to produce a show until now.
• 3:10
  SPEAKER_00: Just wanted to be able to mention some of the things that are going on here to the to the audience.
• 3:15
  SPEAKER_00: I know we have listeners all over the nation and uh you know all over the world as far as the the website and being able to stream.
• 3:24
  SPEAKER_00: But here in northwestern Indiana and Indiana in general, Indianapolis was uh we're two hours from Indianapolis, north of Indianapolis, but uh we got hit with some 120 mile an hour winds and twisters that uh just wreaked havoc on uh Merylville, Chesterton, Crown Point, Valparaiso, and uh Portage, Munster, Dairy, Whiting, you name it.
• 3:46
  SPEAKER_00: Uh everybody was was was coverless.
• 3:49
  SPEAKER_00: No one was really got away with anything except for uh, you know, as you pushed more east and south.
• 3:57
  SPEAKER_00: Uh, but they've had they've had havoc wrapped over them this uh this summer as well.
• 4:02
  SPEAKER_00: So but Indianapolis, the uh the White River crested and obviously you saw the flooding.
• 4:07
  SPEAKER_00: So just want to be able to mention that to everybody uh that uh we are our thoughts and prayers are with you and your families, and I really hope that you're doing okay out there and uh way to way to way to be strong and fight through it.
• 4:22
  SPEAKER_00: We also can't hate hate to mention, but uh definitely need to.
• 4:28
  SPEAKER_00: Uh we lost a a a great one in Dolly Parton recently.
• 4:31
  SPEAKER_00: Uh we're at half-mast here as a nation for a an absolute uh gym of a person that we were going to all miss.
• 4:40
  SPEAKER_00: Uh that uh brightened a room every time she came into the room and certainly helped on the philanthropic side of things.
• 4:46
  SPEAKER_00: We talked charitable giving on the show and charitable inclinations, and uh that was one thing about Dolly that uh was absolutely immeasurable and very powerful.
• 4:55
  SPEAKER_00: So want to be able to mention that as well.
• 4:59
  SPEAKER_00: As we talk about things in investments, the one thing I've been trying to get away from, and I'd love to be able to uh talk about some of the things that are coming about soon, we're going to work on uh a series of different podcasts here about uh the business planning and the uh business exits that uh allow owners to be able to sell and some of the techniques that owners can use.
• 5:28
  SPEAKER_00: So we're gonna be talking to business owners in the next two or three podcasts uh coming up, but one of the things we've been trying to get away from is talk about the market.
• 5:37
  SPEAKER_00: And unfortunately, we've just not been able to do uh much of that because it's been so crazy with the war in Iran and the volatility that we've had this summer, even though the SP is up about 13% uh for the year.
• 5:51
  SPEAKER_00: I really feel like it's necessary to uh talk more about what's going on and the AI drivers and uh the AI investments because and many of our podcasts have been towards that.
• 6:04
  SPEAKER_00: So this is going to be one of those today.
• 6:06
  SPEAKER_00: I wanted to update everybody as far as the uh the world of AI as far as investments again, because I feel like I need to do it almost every single month.
• 6:16
  SPEAKER_00: So at least one out of four podcasts or one out of four shows need to be talking about the market because it's just been so volatile and there's been just very difficult places to go, especially in the bond market.
• 6:30
  SPEAKER_00: The the bond market is anemic at best.
• 6:33
  SPEAKER_00: Uh you see the tenure that has continued to rise based on concern and worry as far as the economy and as far as the the war in Iran.
• 6:43
  SPEAKER_00: So if you're a bondholder right now, you know, you get and go into bonds and be super conservative, clip your coupon, go home, take your ball and back, go home.
• 6:53
  SPEAKER_00: And uh there's just been nothing.
• 6:55
  SPEAKER_00: The indice is still down for the year.
• 6:57
  SPEAKER_00: As I mentioned on the last show, it's down 0.22 or 0.25, uh depending on the day that you pick, but for the most part, it's been stuck there for for over a month.
• 7:07
  SPEAKER_00: And uh you don't go into bonds to lose money or not make any, because uh that's exactly what's happening.
• 7:13
  SPEAKER_00: So it's been very difficult to find income for retirees and for people that are conservative in nature and don't necessarily want a bunch of equity exposure, or would like to go into a 60-40 portfolio where 60% is equity, 40% is income, and that income is credit that is conservative.
• 7:30
  SPEAKER_00: Uh, it's just been really, really tough.
• 7:32
  SPEAKER_00: So um, where people have gone, uh you know, they're seeing uh that the AI world is uh someplace to go as far as investments, and that's what I want to talk to today.
• 7:43
  SPEAKER_00: You know, the Noble Prize-winning economist Paul Romer once wrote that economic growth springs from better recipes, not just from more cooking.
• 7:55
  SPEAKER_00: Now, I bring this quote up because this is a key idea in the in economics, in that raising our standard of living is not just about adding more workers or more equipment, but really enabling each worker to produce and not only more goods and services, but higher quality ones as well.
• 8:19
  SPEAKER_00: And that has been the push since really the revolution of after World War II, and maybe even before that for sure.
• 8:30
  SPEAKER_00: But uh the standard of living does has gone up.
• 8:35
  SPEAKER_00: And just about, you know, just adding workers and more equipment is not necessarily uh the way you do it, then this is often measured by the concept of what we call in the world of investments as productivity.
• 8:50
  SPEAKER_00: Now, the main ingredient in the type of economic growth that improves wages and quality of life is productivity.
• 8:58
  SPEAKER_00: So it also is one of the most important questions today as the adoption of artificial intelligence accelerates.
• 9:07
  SPEAKER_00: So AI and the what I want to talk about is the Federal Reserve and how important this is.
• 9:13
  SPEAKER_00: The AI and Federal Reserve policy may seem completely unrelated on the surface, but with the recent meetings in Jackson Hole and with the Fed chair talking and basically the market was leaning on every single word of his press conference and and ultimately the the meeting notes.
• 9:36
  SPEAKER_00: I want to talk about AI and the Federal Reserve that look, they can look unrelated for sure.
• 9:46
  SPEAKER_00: Well, in the short run, this connection really runs through their effects on the financial markets and interest rates, right?
• 9:54
  SPEAKER_00: So th those are always something to consider and something to watch.
• 9:57
  SPEAKER_00: But in the long run, it's through productivity and economic growth that really matters.
• 10:04
  SPEAKER_00: And in fact, federal chair Kevin Walsh, who's new, and we're just figuring him out, certainly learning about how he works and what he says or what he doesn't say.
• 10:13
  SPEAKER_00: And he recently addressed these topics at the Fed's symposium in Jackson Hole in Wyoming.
• 10:19
  SPEAKER_00: And given how much AI has already impacted markets in recent years and continued uncertainty surrounding the Fed's policy direction, I really want to talk about what investors should consider from a long-term perspective.
• 10:35
  SPEAKER_00: Um to understand why productivity matters, it helps really to review how economists think about growth.
• 10:43
  SPEAKER_00: So standard economic models are built around workers and capital, a term that includes things like equipment, machines, and tools.
• 10:54
  SPEAKER_00: But education and technology are just as important.
• 10:58
  SPEAKER_00: So since they allow workers to produce more with the same amount of capital.
• 11:04
  SPEAKER_00: So for example, a restaurant can create more meals if it has more cooks, better equipment, and better training cooks than can make the than the than than they can make the best use of their tools and ingredients.
• 11:22
  SPEAKER_00: Okay, so you can make more meals if you have more cooks and better use overall as far as those tools and ingredients.
• 11:35
  SPEAKER_00: Now also a more knowledgeable doctor with access to more advanced facilities can produce better outcomes, you would hope, for the patients.
• 11:46
  SPEAKER_00: Now, while economic models really naturally oversimplify the world, the core idea is that really generating more and better output per worker, no matter what the field, drives improvements in wages and living standards over time.
• 12:06
  SPEAKER_00: So that's why productivity growth matters so much.
• 12:11
  SPEAKER_00: Uh, even though it's really difficult to measure precisely.
• 12:15
  SPEAKER_00: But what makes the effect of AI both interesting and hard to forecast is that it affects nearly all of these factors at once.
• 12:23
  SPEAKER_00: And that's what you're seeing in the overall markets, too.
• 12:26
  SPEAKER_00: I mean, it it is it is changing every day.
• 12:29
  SPEAKER_00: So depending on the perspective, uh AI can be viewed as labor or capital and as a means to create even newer methods of techni and technologies.
• 12:42
  SPEAKER_00: So Warsh, for instance, framed his question in his speech as whether AI would be quote unquote complementary or competitive to labor.
• 12:57
  SPEAKER_00: And that's important because everything's changing very, very quickly.
• 13:03
  SPEAKER_00: So the science fiction version of the answer is that AI replaces workers entirely, particularly those that whose tasks involve information, such as data analytics or computer programming.
• 13:23
  SPEAKER_00: However, it's not yet clear that this is even happening.
• 13:27
  SPEAKER_00: So the current evidence suggests that AI may instead be another tool that helps workers accomplish more, much as the information technology revolution did in prior decades.
• 13:41
  SPEAKER_00: So is early evidence of this, some companies are now rehiring after they previously reduced their workforces due to AI, which is interesting because everybody thinks that AI is just gonna come and take your jobs.
• 13:56
  SPEAKER_00: Now there are gonna be jobs that are going to be lost due to AI.
• 14:02
  SPEAKER_00: But one of the things I'd like to be able to show is a chart, and obviously I can't do this on the show, but you can see it on our blog at Feral Wealth.
• 14:12
  SPEAKER_00: Just go to our Farowealth blog and see the charts also on LinkedIn.
• 14:15
  SPEAKER_00: If you follow me on LinkedIn, I post on LinkedIn and talk about much of what we're talking about today in those blog posts.
• 14:24
  SPEAKER_00: So the chart when you see this, it really shows that productivity growth has varied significantly across decades.
• 14:34
  SPEAKER_00: But typically it does rise alongside the adoption of new technology.
• 14:40
  SPEAKER_00: So the expansion, if you look at it's 1990s, so let's go back to the expansion of the 1990s, for instance, that was occupied by the acceleration in output per worker, even though it took a lot of time to materialize, and have companies be profitable too.
• 14:55
  SPEAKER_00: You see the dot com boom, dot com bus in 2000 is the same.
• 14:59
  SPEAKER_00: So with all of this, the Fed's trying to figure it out as well.
• 15:04
  SPEAKER_00: And so are so is the market.
• 15:06
  SPEAKER_00: And that's why it's important to investors.
• 15:09
  SPEAKER_00: So the the one main thing the Fed's really worried about and continues to worry about, even though there's a new Fed chair and a new committee, but the Fed's more immediate focus has been inflation.
• 15:21
  SPEAKER_00: So the Fed's preferred measure, the personal consumption expenditures price index, uh that you hear about if you follow the news and follow the financials, really shows that inflation rose 3.7 year over year, 3.3.7%.
• 15:38
  SPEAKER_00: And a core PCE at 3.3%.
• 15:41
  SPEAKER_00: Now, both measures remain well above the Fed's 2% target, and progress over the past two years has been limited due to higher oil gasoline prices that results from the war in the Middle East in Iran.
• 15:56
  SPEAKER_00: And in the short run, this puts the Fed really in a difficult position as it really tries to balance growth and price pressures.
• 16:04
  SPEAKER_00: But inflation's come in.
• 16:06
  SPEAKER_00: I mean, I'm not buying$8 eggs anymore.
• 16:09
  SPEAKER_00: I don't know about you.
• 16:10
  SPEAKER_00: But and our gasoline here in Indiana I just passed was$3.05.
• 16:15
  SPEAKER_00: Now, oil has definitely moved up here in the last week, but uh we've seen this fluctuation back and forth here as far as uh the news that basically comes out of Iran.
• 16:25
  SPEAKER_00: That's what really is moving markets.
• 16:27
  SPEAKER_00: But markets have really tried to predict when the Fed might hike rates, uh, resulting in these market swings and all this volatility I've been talking about.
• 16:34
  SPEAKER_00: But currently expectations, the bet right now is that there it'd be at least one rate hike by the end of this year and possibly two at the end of the first quarter of next year.
• 16:47
  SPEAKER_00: But I just was out in San Diego to watch Dr.
• 16:50
  SPEAKER_00: David Kelly.
• 16:51
  SPEAKER_00: We were at a conference for LPL, and Dr.
• 16:54
  SPEAKER_00: David Kelly is one of my favorite follows.
• 16:56
  SPEAKER_00: I highly recommend you find him on LinkedIn at JP Morgan, and he is in part in charge of the team for Guide to the Markets, and he's just excellent at what he does.
• 17:06
  SPEAKER_00: And he says there are no rate heights.
• 17:08
  SPEAKER_00: In fact, it would be a cut coming next year.
• 17:10
  SPEAKER_00: So nothing will be done in 2026.
• 17:13
  SPEAKER_00: Now, the market right now, the expectations can change quickly as this new data and Fed guidance comes along, and uh the war and there's another press conference and another meeting.
• 17:23
  SPEAKER_00: But these have really shifted significantly over the past several months back and forth.
• 17:28
  SPEAKER_00: And in the long run, the story could be different, really depending on AI and other technology trends.
• 17:34
  SPEAKER_00: So this could change pretty quickly.
• 17:35
  SPEAKER_00: So that's why I'm trying to bring it up here today to make sure you're aware of it.
• 17:40
  SPEAKER_00: Now, this is really because technology is naturally deflationary.
• 17:47
  SPEAKER_00: So more output and higher quality goods can mean prices fall over time.
• 17:53
  SPEAKER_00: In fact, if AI lifts productivity, the economy could support faster growth and higher wages with more moderate inflation over time.
• 18:08
  SPEAKER_00: So this is really relevant because many areas of inflation are due to recent factors, like I mentioned, oil prices, data center construction, semiconductor shortages, and a number of other things.
• 18:21
  SPEAKER_00: But inflation drivers have less to do with monetary policy and productivity.
• 18:26
  SPEAKER_00: And these could fade.
• 18:28
  SPEAKER_00: So that process takes time.
• 18:31
  SPEAKER_00: The surprises come along, can come along the way for sure, but investors should really focus, shouldn't really focus way too much on any individual inflation report.
• 18:40
  SPEAKER_00: What it should focus on, as we talk here on Money Matters with Greg, I'm Greg Farrell, CEO and owner of Fairwealth.
• 18:47
  SPEAKER_00: It's a wealth management firm here locally in Valparaiso and serving clients nationwide in 25 states.
• 18:53
  SPEAKER_00: We're on WVLP 103.1 FM today, talking about AI and the Fed and how they actually relate, even though you wouldn't necessarily think that they do.
• 19:02
  SPEAKER_00: But the near term, the labor market is really, really important.
• 19:08
  SPEAKER_00: And it really shows that the economy is healthy.
• 19:11
  SPEAKER_00: Layoffs have been affected in certainly some sectors.
• 19:14
  SPEAKER_00: Many of these trends are due to cost cutting and broader technology adoption for sure, but not necessarily AI.
• 19:25
  SPEAKER_00: Most importantly, the unemployment rate is still historically low at 4.1%.
• 19:32
  SPEAKER_00: And it has been stable for the past two years.
• 19:36
  SPEAKER_00: Wage growth has decelerated, but at 3.1% year over year, earnings remain strong by historical standards.
• 19:44
  SPEAKER_00: The government is not hiring the way that they were two years ago or three years ago.
• 19:51
  SPEAKER_00: Um, they've actually been cutting jobs on multiple different fronts.
• 19:56
  SPEAKER_00: That was a big number in the unemployment rate.
• 20:00
  SPEAKER_00: And why is unemployment so low, even though job games have been choppy or cut for sure.
• 20:07
  SPEAKER_00: But one reason is that labor supply has grown very slow due to the big, you know, the big misnomer out there is aging demographics.
• 20:16
  SPEAKER_00: Uh, we are getting older as a country and less immigration.
• 20:20
  SPEAKER_00: The labor force participation rate fell to 61% in July.
• 20:24
  SPEAKER_00: Now, that's near its lowest level in decades.
• 20:27
  SPEAKER_00: And as people exit the workforce, it really includes a lot of a lot of baby boomers.
• 20:33
  SPEAKER_00: I mean, we have a ton of people retiring.
• 20:36
  SPEAKER_00: Uh, we're seeing it in our industry for sure, as people are looking towards getting on Medicare, signing up for Medicare, signing up for Social Security, and doing all the things that they've been working towards doing, and now they're 65.
• 20:52
  SPEAKER_00: Now, I want to talk about immigration real quick.
• 20:56
  SPEAKER_00: Immigration restrictions have really slowed growth and the available labor pool for sure.
• 21:02
  SPEAKER_00: When labor supply is barely growing, monthly job gains can naturally be low, even as workers hold on to their jobs and companies continue to hire when needed.
• 21:12
  SPEAKER_00: But this may explain why initial jobless claims reflect that workers are seeking benefits after layoffs and they're near historic lows right now.
• 21:20
  SPEAKER_00: The economy's figuring itself out, and that's with the new rules, which is there's going to be less immigration for sure, because what happened just two years ago and beyond was open immigration.
• 21:33
  SPEAKER_00: So those people that came in weren't necessarily working for sure.
• 21:41
  SPEAKER_00: So it is something to consider that you have to think about.
• 21:46
  SPEAKER_00: But across technology, inflation, the job market, and really investors should really balance these short term factors against the long term trends and just keep an eye on it, is really what I'm trying to give everybody an awareness about.
• 21:59
  SPEAKER_00: Now, in The near term markets remain is uncertain for sure.
• 22:03
  SPEAKER_00: Um, they really depend on the conflict in Iran once that is over.
• 22:06
  SPEAKER_00: Uh but it would be nice to be over so we could get back to business.
• 22:10
  SPEAKER_00: But the pace of the pace of data center build-outs, a number of other things matter.
• 22:16
  SPEAKER_00: But over the years and decades, productivity growth and broader economic trends will definitely drive financial markets.
• 22:26
  SPEAKER_00: So if you stay focused on the long-term goals and what will increase the probability of financial success, you will be successful as well in following those trends, investing in those trends and making money off of it.
• 22:43
  SPEAKER_00: So the bottom line is the Fed faces a really difficult balance between inflation and the job market.
• 22:51
  SPEAKER_00: Now, especially as AI trends continue to develop for sure.
• 22:56
  SPEAKER_00: And for investors, it's really best to maintain a long-term perspective of alignment with financial goals.
• 23:02
  SPEAKER_00: I always say that I know it's it's the same thing I say almost every single time as we talk about the markets here, but it really is important to consider this long-term perspective.
• 23:17
  SPEAKER_00: Now, how long-term is that for many people?
• 23:19
  SPEAKER_00: Look, we find that people can't think beyond 10 years.
• 23:24
  SPEAKER_00: We like to talk about seven years.
• 23:26
  SPEAKER_00: We have three buckets of money that we talk about a lot, a static bucket that is for your cash, then your dynamic bucket, which is your three to seven year time frame and money that you can touch if you have to without penalty.
• 23:39
  SPEAKER_00: And then your dream bucket, which is seven years out.
• 23:42
  SPEAKER_00: And uh that includes your 401k, that includes your home, that includes real estate, any real estate investments.
• 23:48
  SPEAKER_00: But seven years is kind of the number that most people can get their head around.
• 23:51
  SPEAKER_00: You start going out to 10 years and people's eyes roll back in their head and they sort of lose interest.
• 23:57
  SPEAKER_00: So when I say long term, I'm thinking of that seven-year plus bucket that is for the long term here, where you're not really, you know, seven years from now, you're not gonna be thinking about the inflation report from August uh 2026.
• 24:12
  SPEAKER_00: That's gonna be the furthest thing from your mind, hopefully.
• 24:15
  SPEAKER_00: And if if it is, I'd recommend you you do something else with your time.
• 24:19
  SPEAKER_00: But that's what I'm trying to give as a perspective is right now it's choppy.
• 24:24
  SPEAKER_00: Right now, the Fed's figuring this out as we add AI into the mix and how that looks uh in regards to um the economy.
• 24:33
  SPEAKER_00: We'll figure this out.
• 24:34
  SPEAKER_00: Uh the market will figure it out.
• 24:36
  SPEAKER_00: And so far, so good.
• 24:38
  SPEAKER_00: If you just have been focused and not listening to the noise that's out there, um, you've done pretty well this year.
• 24:46
  SPEAKER_00: So so far, so good.
• 24:47
  SPEAKER_00: Knock on wood.
• 24:48
  SPEAKER_00: September's always a wild ride, October is as well.
• 24:51
  SPEAKER_00: It is the first week of September here of 2026.
• 24:55
  SPEAKER_00: So we are going to have volatility for sure, but with volatility comes opportunity.
• 25:02
  SPEAKER_00: And so sharpen your pencils, people.
• 25:04
  SPEAKER_00: As my mom always says as an investor, it's time to sharpen your pencil and get busy, get to work.
• 25:10
  SPEAKER_00: And this is why it's really, really important to do your homework and be ready because you're going to get opportunities to be able to buy into a market that is looking really, really healthy here in the future as we continue this bull market run.
• 25:25
  SPEAKER_00: The show's money manager, Greg.
• 25:27
  SPEAKER_00: I'm Greg Farrell, CEO and owner of Faral Wealth.
• 25:30
  SPEAKER_00: It's a wealth management firm and an independent financial advising firm here locally in Valparaiso, Indiana.
• 25:37
  SPEAKER_00: Uh, if you have any questions or need anything from me, Greg at Feral Wealth is my email.
• 25:41
  SPEAKER_00: I'd love to hear from you for any topics on the show or any ideas.
• 25:45
  SPEAKER_00: And I'm hope thankful that you're here.
• 25:47
  SPEAKER_00: Thanks for listening.
• 25:48
  SPEAKER_00: Thanks for being a part of this show.
• 25:50
  SPEAKER_00: And the next shows will be business owner driven, as I've seen a lot of business owners looking to sell their businesses.
• 25:59
  SPEAKER_00: I recently took my SEPA exam, which is a certified exit planning advisor uh accreditation.
• 26:07
  SPEAKER_00: It was over 100 hours of work.
• 26:09
  SPEAKER_00: I went through that.
• 26:10
  SPEAKER_00: I want to really bring that to the business owners and of the audience here going into our what are ultimately be our 200th episode as we uh move along.
• 26:19
  SPEAKER_00: The show's broadcast on WVLP 103.1 FM.
• 26:23
  SPEAKER_00: I want to thank the WVLP family for having us as be a part of it, uh, of their family, and uh highly recommend you go to WVLP.org and listen in on many of the shows that uh are are out there.
• 26:37
  SPEAKER_00: Uh it is a nonprofit, uh, so uh we do depend on uh donations and uh raising money.
• 26:45
  SPEAKER_00: Uh so if you are inclined and would like to help a local community group that has some really great shows on it, please feel free to check the website out, wvlp.org, and uh donate today uh or anytime in the future, especially as we go towards year end as you plan for your charitable donations uh at the end of the year.
• 27:05
  SPEAKER_00: Again, thinking of you and your families out there, uh, and I hope you're doing okay with no electricity.
• 27:11
  SPEAKER_00: Uh it seems like everybody's getting back to it here.
• 27:15
  SPEAKER_00: I know the men and women at NIPSCO have been working very, very, very hard for getting us back and organized here in northwestern Indiana.
• 27:24
  SPEAKER_00: So, thoughts and prayers to everybody that's been out there and all the struggles they've been through in the last few weeks.
• 27:29
  SPEAKER_00: And I hope you have a very healthy and profitable week.
• 27:32
  SPEAKER_00: We'll see you next week.
• 27:34
  SPEAKER_00: See ya.
• 27:40
  SPEAKER_01: Thanks for tuning in to Money Matters with Greg.
• 27:43
  SPEAKER_01: We hope you gained some valuable insights today.
• 27:45
  SPEAKER_01: Remember, your financial journey is personal, but you don't have to go it alone.
• 27:50
  SPEAKER_01: If you enjoyed the show, be sure to subscribe and share.
• 27:53
  SPEAKER_01: Until next time, here's to Making Your Money Work for You.
• 27:57
  SPEAKER_01: Securities and Investment Advisory Services offered through LPL Financial, a registered investment advisor, member FINRA SIPC.