Latest / The Bill Handel Show / World Cup Host Cities Economic Boost | Most Generous 401k Plans
Transcript
- 0:01Speaker 1: You're listening to Bill Handle on demand from KFI AM
- 0:04Speaker 1: six forty. Let's play football World Cut.
- 0:10Speaker 2: Cut jf I AM six forty Bill Handle here, Good
- 0:15Speaker 2: morning on a Monday morning, July twentieth, after the final
- 0:20Speaker 2: World Cup yesterday, where Spain handily beat well, I should
- 0:26Speaker 2: have been handily beat Argentina just completely outplayed Argentina. Before
- 0:30Speaker 2: we jump into that, Neil, something about the Dodgers if
- 0:34Speaker 2: you will.
- 0:35Speaker 3: Indeed, your official home for Dodgers Baseball is AM five
- 0:39Speaker 3: seventy LA Sports. This afternoon, you're back to back world
- 0:43Speaker 3: champion Dodgers take on the Phillies in Philadelphia with first
- 0:47Speaker 3: pitch at four. Listen on AM five seventy LA Sports
- 0:51Speaker 3: in streaming on the iHeart Radio app live from the
- 0:55Speaker 3: gallpin Ford Broadcast boot.
- 0:58Speaker 2: All Right, yesterday the final, as I said, Argentina lost
- 1:02Speaker 2: to Spain and should have lost by bigger numbers. Completely
- 1:06Speaker 2: outplayed by Spain. But I want to talk about the
- 1:09Speaker 2: financial the economic boost of the World Cup that the
- 1:13Speaker 2: World Cup brought to the United States. First of all,
- 1:16Speaker 2: if you have any doubt that the FIFA president Gianni
- 1:21Speaker 2: Infantino was basically best friends with that Donald Trump, he
- 1:27Speaker 2: was has been with Donald Trump a whole bunch. For example,
- 1:30Speaker 2: there was even before the final kickoff, there was a
- 1:35Speaker 2: reception at Trump Tower and I love this. Infantano said,
- 1:40Speaker 2: this is when you get close to the president. And
- 1:43Speaker 2: I'm going to quote this has not just been the
- 1:46Speaker 2: greatest FIFA World Cup of all time, it is the
- 1:48Speaker 2: greatest human, social and cultural event that mankind has ever witnessed.
- 1:56Speaker 2: It was the best that ever was, that ever will
- 2:00Speaker 2: be in the history of the world. Don't you love those? Now,
- 2:08Speaker 2: let's get down to brass tacks. And as a matter
- 2:10Speaker 2: of fact, they sold a lot of brass tacks. Strangely enough,
- 2:13Speaker 2: Bank of America estimates that the credit and debit card
- 2:16Speaker 2: spending by Americans rose six point three percent.
- 2:19Speaker 1: In June from a year earlier.
- 2:21Speaker 2: That's big news because that's the strongest growth rate in
- 2:23Speaker 2: more than four years. Host City hotels at thirty five
- 2:27Speaker 2: percent more revenue out of the available rooms than they
- 2:30Speaker 2: did a year earlier during the same days, and you
- 2:33Speaker 2: would expect that to be you would expect that to
- 2:37Speaker 2: have happened. And a couple of things that were that
- 2:41Speaker 2: I don't think people were prepared for or overly prepared for.
- 2:46Speaker 2: One of them is, for example, there was no beer
- 2:48Speaker 2: left in Boston. The city ran out of beer. People
- 2:52Speaker 2: from Scotland drank every drop of beer and it was
- 2:59Speaker 2: kind of interesting. The Kansas City hotels were filled by
- 3:02Speaker 2: Dutch people, the French on Philly cheesecakes.
- 3:08Speaker 1: And it looks like.
- 3:10Speaker 2: Soccer fans at home abroad opened their wallets and boosted
- 3:14Speaker 2: spending in the World Cup, and the big winners weren't
- 3:17Speaker 2: the big big winners weren't just New York and LA
- 3:20Speaker 2: but the less obvious destinations Philadelphia, Kansas City, which actually
- 3:25Speaker 2: Shaw saw percentage wise the biggest boost. What is I
- 3:29Speaker 2: think interesting about this is that the World Cup was
- 3:32Speaker 2: going to be this big, insanely successful event, and then
- 3:35Speaker 2: a few months ago the experts in the hospitality industry said.
- 3:39Speaker 1: Well, this may be a bust. This may be a bust.
- 3:43Speaker 2: Nineteen eighty four Olympics in Los Angeles, for example, made money,
- 3:49Speaker 2: but was it a huge event for the city.
- 3:52Speaker 1: I don't know. Traffic was great.
- 3:54Speaker 2: I had left to go to Australia because the traffic
- 3:58Speaker 2: is going to be so insane. There was no traffic,
- 4:00Speaker 2: No one was on a street. And the other issue
- 4:04Speaker 2: is that in exactly this, that the World Cup would
- 4:07Speaker 2: keep traditional tourists from visiting host cities. Well, it turned
- 4:12Speaker 2: out that the Cup did everything it was promised to
- 4:17Speaker 2: do and more so. And for example, at Prinsinger's Bar
- 4:22Speaker 2: in Philadelphia, every day Super Bowl fans came, so Prinsinger
- 4:27Speaker 2: had to max out the number of bartenders because he
- 4:29Speaker 2: couldn't squeeze any more behind the counter. He could have
- 4:32Speaker 2: done much better, he says, we're running out of everything.
- 4:35Speaker 2: You can imagine. The soccer fans did show up, and
- 4:40Speaker 2: the United States is getting such grief around the world.
- 4:42Speaker 2: Our reputation has taken such a nosedive. This at least
- 4:46Speaker 2: was some respite. And there was story after a story
- 4:49Speaker 2: about foreigners loving everything American, the chiefs to Kates the
- 4:54Speaker 2: ranch dressing that became a phenom, a viral phenom. But
- 4:59Speaker 2: mac and chee, I mean everything that is American comfort food.
- 5:03Speaker 1: Hamburgers were an insane.
- 5:05Speaker 2: Hit among soccer players or among soccer fans around the world.
- 5:10Speaker 2: Even There's was a video of a bar where everybody
- 5:15Speaker 2: in the bar, I mean lots of people were singing
- 5:17Speaker 2: the national are national anthem.
- 5:19Speaker 1: And if you look at a baseball.
- 5:20Speaker 2: Game where it was just jammed with World Cup fans
- 5:24Speaker 2: from all over the world, and you saw that they
- 5:27Speaker 2: were taking me out to the ball game, which they
- 5:29Speaker 2: always sing seventh inning stretch there they were everybody standing
- 5:34Speaker 2: up and singing. It was just it was nice to
- 5:37Speaker 2: see what happened. It really was and probably the best
- 5:41Speaker 2: game of all wasn't the final. Yesterday's game was pitiful.
- 5:44Speaker 2: It was third place where it was France and who played.
- 5:50Speaker 2: France played who England? Right, France and England played. That
- 5:54Speaker 2: was an insanely great game. Even the commentator were screaming
- 6:02Speaker 2: that it was the best game and it clearly was.
- 6:04Speaker 2: Also the halftime show some new stuff where the World
- 6:08Speaker 2: Cup took a page out of American sports, particularly the
- 6:11Speaker 2: Super Bowl. For the first time they had a halftime show,
- 6:14Speaker 2: which was amazing.
- 6:15Speaker 1: It was tremendous.
- 6:17Speaker 2: Also, for the first time, the champions will have a
- 6:20Speaker 2: championship ring made much like the Super Bowl. All in
- 6:25Speaker 2: all terrific, except.
- 6:26Speaker 1: For the final.
- 6:27Speaker 2: The final game was kind of just a real letdown.
- 6:31Speaker 2: Spain completely outclass Argentina from minute one to the last minute.
- 6:38Speaker 2: Argentina didn't even show up. I mean they dialed it
- 6:40Speaker 2: in and MESSI who everybody thought would be once again
- 6:45Speaker 2: the miracle makers he has in earlier games and World Cups,
- 6:50Speaker 2: ended up doing nothing. He barely touched the ball. I
- 6:52Speaker 2: mean he might as well have been on the sideline,
- 6:55Speaker 2: and basically he was Okay, that's good news.
- 6:59Speaker 1: Now.
- 7:00Speaker 2: Now I want to move over to your retirement, my retirement.
- 7:04Speaker 2: And as I mentioned when I do my lyric commercials
- 7:06Speaker 2: about putting stocks and savings into your four to oh
- 7:09Speaker 2: one K plans, four oh one ks are actually the
- 7:13Speaker 2: best thing that has happened, I believe to workers since pensions,
- 7:18Speaker 2: which are quickly disappearing. So four oh one K plans
- 7:22Speaker 2: were passed, so the law was passed to sort of
- 7:25Speaker 2: supplement pensions.
- 7:26Speaker 1: Pensions have gone away.
- 7:27Speaker 2: So when you talk about retirement, you've got Social Security
- 7:31Speaker 2: which everybody gets. And if you don't have a four
- 7:32Speaker 2: to oh one K plan, you are crazy. And why
- 7:35Speaker 2: is this because most four to oh one K plans
- 7:38Speaker 2: around the country. I have an employer match. I did
- 7:44Speaker 2: that when I had my surrogacy agency. I had I
- 7:48Speaker 2: think a three and a half four percent employer match.
- 7:51Speaker 2: So you put an X number of dollars into the
- 7:54Speaker 2: four oh one K plan and my company or any
- 7:56Speaker 2: other company, well match that money. And the beauty of
- 8:00Speaker 2: it is the money that you are putting in is
- 8:02Speaker 2: tax deferred. You are not paying taxes on that money.
- 8:06Speaker 2: So you have the benefit of not paying taxes on
- 8:09Speaker 2: the money and getting a one hundred percent return if
- 8:16Speaker 2: nothing is made on it. If the money you put
- 8:19Speaker 2: on it makes nothing during the year, nothing I mean zero,
- 8:24Speaker 2: And that's that almost never happens. It always makes something,
- 8:27Speaker 2: three percent, four percent, whatever it makes, it's actually one
- 8:31Speaker 2: hundred percent because there's matching dollars. For example, let's say
- 8:35Speaker 2: you're saving and for every dollar you put in your
- 8:38Speaker 2: savings account, I give you a dollar.
- 8:40Speaker 1: Well, that means you're saving two dollars.
- 8:43Speaker 2: It's costing you one dollar, and you're not paying taxes
- 8:46Speaker 2: on that one dollar that you earn. No, I mean
- 8:48Speaker 2: this is you have to max out your four oh
- 8:52Speaker 2: one K plan. I don't care how or what if
- 8:55Speaker 2: you plan on retiring even beginning to be comfortable now
- 8:59Speaker 2: four oh one K plan. Most large employers have those.
- 9:03Speaker 2: Not necessary, by the way, you don't have to have them,
- 9:05Speaker 2: but you can do it on your own without employer matching,
- 9:09Speaker 2: and some employers are mandatory. They have them as part
- 9:12Speaker 2: of your pay and well, for example, Costco contributes four
- 9:17Speaker 2: percent of its pay into the four oh one K
- 9:19Speaker 2: accounts people with twenty five or more years of service
- 9:24Speaker 2: nine percent matching. So imagine this you're making let's say
- 9:30Speaker 2: a Costco after twenty five years, you're making one hundred
- 9:33Speaker 2: thousand dollars a year, okay, and you put in ten
- 9:37Speaker 2: percent on your four to oh one K Costco you
- 9:41Speaker 2: put in nine percent. Costco puts in nine percent. They match.
- 9:45Speaker 2: Now you're talking about really turbo charging your financial your
- 9:52Speaker 2: financial base of your retirement plans. And people don't think
- 9:56Speaker 2: we have enough. Think they at the end of it,
- 9:58Speaker 2: they think they have enough money for retirement, and no
- 10:01Speaker 2: one comes close. In order for you to make fifty
- 10:04Speaker 2: thousand dollars a year, let's say you make fifty thousand
- 10:06Speaker 2: dollars a year salary. Okay, Well, let's say you make
- 10:09Speaker 2: one hundred thousand dollars year salary, and I don't know
- 10:12Speaker 2: how much you're able to put away. Hopefully you're able
- 10:14Speaker 2: to put away the maximum amount you're allowed to in
- 10:16Speaker 2: your four oh and k plane with matching dollars at
- 10:20Speaker 2: the end. For fifty thousand dollars a year, you need
- 10:22Speaker 2: one hundred thousand dollars. You need a million dollars in
- 10:25Speaker 2: the bank, a million bucks throwing off income. Now you know,
- 10:32Speaker 2: fifty thousand dollars on top of so security, on top
- 10:35Speaker 2: of any pension, you're in pretty good shape. But if
- 10:37Speaker 2: you don't have those and you haven't planned, that's a
- 10:40Speaker 2: big problem.
- 10:41Speaker 1: So you've got.
- 10:42Speaker 2: Companies that would pay that pay just buckets of money.
- 10:47Speaker 2: For example, Boeing, Visa MasterCard offer four point seven percent.
- 10:53Speaker 1: The average is four percent.
- 10:54Speaker 2: By the way, Costco is also four percent, but it
- 10:58Speaker 2: goes way way up. And so as you would say,
- 11:01Speaker 2: Costco is one of the best places to work, as
- 11:03Speaker 2: as Michelle because there husband Tim works for Costco and
- 11:05Speaker 2: has forever. Also Costco inexpensive health care, higher than normal
- 11:10Speaker 2: hourly wage. And we've talked about Costco before. It's philosophy
- 11:15Speaker 2: of taking care of its employees really really well, saves
- 11:18Speaker 2: them money by paying really well and giving tremendous benefits.
- 11:22Speaker 1: They think that's an advantage.
- 11:25Speaker 2: So Southwest offers a dollar for dollar match of up
- 11:30Speaker 2: to nine point three percent, Boeing ten percent. Now, when
- 11:36Speaker 2: you look at those four oh one k plans, when
- 11:40Speaker 2: you're looking at or only go the other way, go
- 11:43Speaker 2: the other way. You're looking for work. One of the
- 11:46Speaker 2: things you look at is not just salary and benefits,
- 11:49Speaker 2: et cetera, working a remote or not working a remote
- 11:52Speaker 2: with people don't pay attention to is how much for
- 11:55Speaker 2: a one K matching money do you put up? Because
- 11:59Speaker 2: over the course of years, that can be an astronomical
- 12:03Speaker 2: difference in your retirement. And I started throwing my four
- 12:08Speaker 2: to oh one k. I started looking for retirement when
- 12:10Speaker 2: I was in my thirties. I should have been in
- 12:13Speaker 2: my twenties paying attention to retirement, and so I am
- 12:18Speaker 2: absolutely behind the eight ball in this one. Now, most
- 12:22Speaker 2: of us are very lucky that work here at KFI
- 12:25Speaker 2: and other radio stations. We do have pensions because of
- 12:28Speaker 2: our union after American Federation of Television and Radio Artists.
- 12:33Speaker 2: I love that we're always artists, aren't we. Sag AFTRA
- 12:38Speaker 2: and they have a pretty decent pension plan. But you
- 12:40Speaker 2: can't assume most companies today don't have. But it used
- 12:42Speaker 2: to be that all major corporations had pension plans. They
- 12:45Speaker 2: don't for the mart part. No, no, I don't think
- 12:49Speaker 2: iHeart has a pension plan.
- 12:51Speaker 1: I don't believe I Heart offers pensions for Yes, they.
- 12:54Speaker 3: Had pensions at KFI since Cocks, and I think even
- 12:58Speaker 3: those stopped by the time I got there.
- 13:02Speaker 2: Oh and just all I mean, so it's so much
- 13:04Speaker 2: more expensive just to go to work these days. It
- 13:06Speaker 2: used to be healthcare. When I first started CSP center
- 13:11Speaker 2: for sort of good parenting employees, one hundred percent coverage
- 13:15Speaker 2: for employees plus their families plus dental. By the time
- 13:21Speaker 2: I wrapped it up, it was seventy five percent for
- 13:24Speaker 2: employees no family members. Your teeth can rot and fall
- 13:28Speaker 2: out for all I care. It's just not the same.
- 13:32Speaker 2: And so what you have left, hopefully is your four
- 13:35Speaker 2: to oh one K plan to make life better for you.
- 13:39Speaker 2: So you have to look at the generous four oh
- 13:43Speaker 2: one K plans. Not today it's just getting a job.
- 13:46Speaker 2: Is getting a job. I mean today you're just a
- 13:48Speaker 2: great shape, just working. But a big part of your
- 13:52Speaker 2: work environment is something that one ever thinks about.
- 13:55Speaker 1: How much four oh one k money do you match?
- 13:59Speaker 2: All right, now, enough of that, and I want to
- 14:02Speaker 2: talk about what's going on with federal agents and the
- 14:05Speaker 2: shooting of well, I guess protesters at these various well
- 14:10Speaker 2: not just shooting the protesters shooting of what are called victims.
- 14:15Speaker 2: I think that's legitimate at these immigration stops. So it
- 14:20Speaker 2: used to be that you would think, and it was true,
- 14:24Speaker 2: that whatever a ICE agent shot up someone, particularly in
- 14:29Speaker 2: some kind of an immigration stop, the FBI would jump
- 14:32Speaker 2: in and investigate, because that's typically what happens. Well, the
- 14:36Speaker 2: FBI has just been told stop it don't investigate confrontations
- 14:40Speaker 2: with immigration agents.
- 14:42Speaker 1: Why.
- 14:42Speaker 2: Well, the answer seems to be that the evidence that's
- 14:46Speaker 2: collected by the FBI is often used to prosecute Department
- 14:51Speaker 2: of Homeland Security agents and that has to stop, and
- 14:54Speaker 2: it would limit law enforcement scrutiny of these immigration agents.
- 14:59Speaker 2: And keep in mind the criticism that the Trump administration
- 15:02Speaker 2: is drawing now over the killings at the hands of
- 15:05Speaker 2: federal officers. For example, just in the last two weeks,
- 15:08Speaker 2: there were two fatal shootings by ICE agents in Texas
- 15:12Speaker 2: and Maine, and of course those became insane news. FBI
- 15:16Speaker 2: managers around the country received written notice informing of the change.
- 15:22Speaker 2: The same day, ICE agents around the country were notified
- 15:25Speaker 2: by FBI counterparts, we are not going to be investigating
- 15:29Speaker 2: anymore now. Justice Department and Department of Homeland Security denied
- 15:33Speaker 2: that any of this took place. No, that's not true. Okay,
- 15:39Speaker 2: I love that. They also said there is there was
- 15:43Speaker 2: no rain on the East coast. Now, responsibility for investigating
- 15:48Speaker 2: cases is now going to fall to Homeland Security investigations,
- 15:52Speaker 2: which is an arm of ice, which means the agency
- 15:55Speaker 2: is investigating itself.
- 15:58Speaker 1: And where do you think that's going to go?
- 16:00Speaker 2: And cases involving these assaults on federal officers. Assaults on
- 16:05Speaker 2: officers have been such a source of tensions for more
- 16:10Speaker 2: than a year because White House and Justice Department have
- 16:14Speaker 2: pushed prosecutors to bring charges against protesters as much as possible.
- 16:21Speaker 2: Here's a federal statute felony charges can be brought against
- 16:24Speaker 2: anyone who quote forcibly, assaults, resists, opposes, impedes, intimidates, or
- 16:29Speaker 2: interferes a federal law enforcement officers. And so the Trump
- 16:34Speaker 2: folks have said that that language means anyone who makes
- 16:37Speaker 2: physical contact with an agent should could, and should be
- 16:41Speaker 2: charged with felony assault punishable way up to eight years
- 16:44Speaker 2: in present in prison. Todd Blanche, acting Attorney General, said
- 16:49Speaker 2: it is abhorrent to ever ever touch a law enforcement officer,
- 16:53Speaker 2: which is why anybody, at any time, anybody does that
- 16:56Speaker 2: and it's a federal officer will prosecute them. Okay, So
- 17:01Speaker 2: now New York Times is an investigation. The Trump administration
- 17:05Speaker 2: has filed charges against more than five hundred and fifty
- 17:08Speaker 2: people for assaulting federal officers usually doing these demonstrations. Four
- 17:14Speaker 2: hundred of those five hundred and fifty have been resolved,
- 17:19Speaker 2: half have unraveled completely, charges being thrown out or withdrawn,
- 17:27Speaker 2: or the defendants being acquitted. Now we're talking fifty percent
- 17:32Speaker 2: have unraveled or been thrown out or acquitted. Usually, when
- 17:36Speaker 2: the Justice Department files a criminal complaint against someone, their prosecution,
- 17:43Speaker 2: their conviction rate is ninety five percent. Ninety five percent.
- 17:49Speaker 2: When you're on the radar of the Justice Department, the Feds,
- 17:53Speaker 2: you are in trouble.
- 17:55Speaker 1: And if they charge you man, one of two things
- 17:58Speaker 1: can happen.
- 17:59Speaker 2: You're going to go to trial because you have nothing
- 18:01Speaker 2: else to do, or you get a plete out. A
- 18:04Speaker 2: fifty percent chance is ridiculous. But that's what's been happening.
- 18:09Speaker 2: And what's been going on, unfortunately, is the shootings have
- 18:11Speaker 2: taken place, the attack on prosecutors.
- 18:15Speaker 1: Oh, by the way, they'll me give you another figure.
- 18:20Speaker 1: Two people this is.
- 18:21Speaker 2: Second term, have been fired on since immigration agents. Since
- 18:26Speaker 2: January of twenty twenty five those two that were killed,
- 18:29Speaker 2: six people, including three US citizens, have been killed as
- 18:33Speaker 2: a result of shootings, and all of them were nearly
- 18:37Speaker 2: all involved officers firing into vehicles through windshields, And the
- 18:45Speaker 2: argument was that the drivers had weaponized their vehicles and
- 18:50Speaker 2: try to run over federal officers, even though the video
- 18:54Speaker 2: in many of these cases show exactly the opposite. People
- 18:58Speaker 2: were trying to drive away from these immigration officers.
- 19:04Speaker 1: This is not good news.
- 19:05Speaker 2: So here's another spin, which is I think just fascinating. Okay,
- 19:10Speaker 2: Tom Homan, who is the czar of the Advice, he
- 19:16Speaker 2: is immigration zar. After the last shooting, he said, in
- 19:20Speaker 2: the attack by the ICE agency, he laughs, are the
- 19:23Speaker 2: last shooting, he ordered that stops by immigration officers on
- 19:29Speaker 2: vehicles have to stop, because that seems to be the
- 19:35Speaker 2: big deal here. That seems to be the way it
- 19:37Speaker 2: is going. The immigration officers stop these vehicles during a
- 19:42Speaker 2: targeted raid, of which the last two shootings, the two
- 19:47Speaker 2: drivers were not even targeted. They were not the target
- 19:50Speaker 2: of the raid and they were killed. So Tom Homan said,
- 19:55Speaker 2: we're stopping all We're basically stopping those immigration stops. The
- 20:00Speaker 2: President the next day reversed it and said those immigration
- 20:05Speaker 2: stops are the majority of our ability to fight illegal immigration.
- 20:12Speaker 2: A lot of security going on, but the bottom line,
- 20:14Speaker 2: the agency is not going to investigate because we just
- 20:18Speaker 2: don't want to know.
- 20:20Speaker 1: That's a tough one, all right.
- 20:22Speaker 2: There's a new law that just came into effect requiring
- 20:26Speaker 2: colleges to prove their graduates earn more than someone with
- 20:29Speaker 2: only a high school diploma, or else students could lose
- 20:32Speaker 2: federal loans. About three hundred California programs failed the test,
- 20:37Speaker 2: a particular cosmopology, cosmetology, some arts programs.
- 20:42Speaker 1: So here is the rule, or here's a benchmark.
- 20:46Speaker 2: If you graduate college and you're earning less than what
- 20:51Speaker 2: you would earn as a high school graduate with no college,
- 20:56Speaker 2: then obviously it's a failure, and you're going to you know,
- 21:01Speaker 2: student loans, you're going to disappear. The average Californian is
- 21:05Speaker 2: expected to earn eighteen dollars an hour thirty six thousand
- 21:08Speaker 2: dollars a year, which is just above minimum wage, and
- 21:14Speaker 2: that is all that the federal government is asking for.
- 21:18Speaker 1: You earn just over minimum wage.
- 21:23Speaker 2: And about three thousand higher education courses of studying California.
- 21:27Speaker 2: Evaluated by the US Department of Education, ninety percent of
- 21:30Speaker 2: the graduates did earn at least eighteen dollars an hour.
- 21:34Speaker 2: I mean, that's crazy, a college degree eighteen dollars an hour.
- 21:38Speaker 2: That's why a lot of people have been arguing, don't
- 21:41Speaker 2: let your kids go to college. Do the you know,
- 21:45Speaker 2: hvac repair or wind wind the mill repair, you know
- 21:50Speaker 2: those wind turbines. You're going to earn a hell of
- 21:52Speaker 2: lot more money. And here is one that's been talked about,
- 21:58Speaker 2: Cal Arts, right that is or yeah, cal Arts, which
- 22:05Speaker 2: is probably one of the best known school for arts,
- 22:10Speaker 2: and they also have acting and they have a lot
- 22:14Speaker 2: of just the artistic endemps. Oh incidentally, you know who
- 22:18Speaker 2: went to cal Arts graduated Don Cheatle, the actor Tim Burton,
- 22:25Speaker 2: want the great directors, Paul Rubins, Pee Weee Herman, who
- 22:33Speaker 2: got a degree he specialized well, his first class was
- 22:39Speaker 2: it was at public masturbation one oh one. And it's
- 22:44Speaker 2: one of those courses where people just don't earn degree,
- 22:47Speaker 2: they don't earn any money. Now Here is the issue.
- 22:51Speaker 2: When you're getting a degree in fine arts and you're
- 22:54Speaker 2: learning how to build sets, guess what You're not going
- 22:58Speaker 2: to make any money.
- 22:59Speaker 1: It's all there is to it. You want to be an.
- 23:00Speaker 2: Actor, you go to college, the chances are you going
- 23:03Speaker 2: to be a waiter for the rest of your life.
- 23:05Speaker 2: You're simply not going to be able to earn enough
- 23:09Speaker 2: money as if you just have a high school degree
- 23:12Speaker 2: and got some kind of a job. This is your passion. Unfortunately,
- 23:16Speaker 2: these passions just don't pan out. It's one in a thousand.
- 23:21Speaker 2: My daughter Pamela, for example, has a nice voice. In
- 23:25Speaker 2: grade school, junior high she was in musical theater and said, Dad,
- 23:30Speaker 2: I want to do musical theater. I think I want
- 23:32Speaker 2: to do that for a living. And I said, you
- 23:33Speaker 2: are dreaming. I'll tell you why you are good. You're
- 23:36Speaker 2: going to be competing with people who are spectacular, and
- 23:41Speaker 2: out of every thousand person who is spectacular, one is
- 23:46Speaker 2: going to make it.
- 23:48Speaker 1: So that is an issue.
- 23:50Speaker 2: The other issue, not just fine arts, but these for
- 23:54Speaker 2: profit schools. That is cosmetology. Learn how to cut hair,
- 23:59Speaker 2: although that is where you can make some money, but.
- 24:02Speaker 1: I love this.
- 24:03Speaker 2: Learn how to be a front front of office receptionist.
- 24:09Speaker 2: Learn how to work in a doctor's office at the
- 24:13Speaker 2: front of the office. So you're gonna be paying three
- 24:16Speaker 2: or four or five thousand dollars and they're going to
- 24:18Speaker 2: teach you to pick up the phone and say doctor
- 24:21Speaker 2: is in. Can I make an appointment with you. That's
- 24:24Speaker 2: the other thing is that's always pissed me off, a
- 24:26Speaker 2: little tangent here, but it's it's not the doctor. It's
- 24:30Speaker 2: always doctor. And when I would call and talk to
- 24:34Speaker 2: one of the infertility doctors in my practice, I would
- 24:38Speaker 2: call and the receptionist picked it up and say doctor
- 24:42Speaker 2: is not in. Well, leave a message for this is
- 24:46Speaker 2: a message from a lawyer. It just drives me, just
- 24:51Speaker 2: drives me nuts. That's what they teach you to do.
- 24:53Speaker 2: And so those programs are losing money and they're losing
- 24:58Speaker 2: their accreditation as they should accept in. When you're dealing
- 25:03Speaker 2: with art, when you're dealing with fine arts, when you're
- 25:06Speaker 2: dealing with theater, when you're dealing with film, you're going
- 25:10Speaker 2: to work for minimum wage for years just to break
- 25:13Speaker 2: in if you can get a job breaking in. So
- 25:17Speaker 2: what's the bottom line. Have your kid get a high
- 25:21Speaker 2: school diploma, go out there and get some work. Also,
- 25:25Speaker 2: go to trade school. People who repair air conditioners make
- 25:29Speaker 2: a lot more money if you're a plumber.
- 25:32Speaker 1: You're not going to say you've been listening to the
- 25:34Speaker 1: Bill Handle Show.
- 25:35Speaker 2: Catch My Show Monday through Friday, six am to nine am,
- 25:38Speaker 2: and anytime on demand on the iHeartRadio app