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Money Monday with Brian James · Brian Thomas

• 0:00
  Speaker 1: On the country.
• 0:02
  Speaker 2: I need to know that weather in traffic. Listen, then
• 0:04
  Speaker 2: you'll know. On fifty five KRS the talk station.
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  Speaker 1: Eight'll five fifty five kr ce DE Talk Station, Happy Monday.
• 0:14
  Speaker 1: Thanks to all We're financial for loaning out Brian James
• 0:17
  Speaker 1: Talk Money Matters. It's time for Money Monday with Brian James.
• 0:20
  Speaker 1: Welcome back, Brian, Hope. You had a wonderful weekend. Just
• 0:22
  Speaker 1: ignore the Bengals.
• 0:23
  Speaker 2: Yeah. We usually start with sports only, but I'm lost.
• 0:27
  Speaker 2: I'm just kind of wandering. I don't know what. How
• 0:28
  Speaker 2: do we kick this off here today? Yeah?
• 0:30
  Speaker 1: Did you have any did you have any hope with
• 0:31
  Speaker 1: the so called late game rally? I mean, oh my god,
• 0:35
  Speaker 1: the Bengals just got a touchdown. We're going to think
• 0:36
  Speaker 1: they had like three minutes left in the game. My
• 0:38
  Speaker 1: wife looked at she goes like, they're gonna be able
• 0:40
  Speaker 1: to come back from this.
• 0:41
  Speaker 2: Wow, the Bengals have figured out to prevent defense and
• 0:43
  Speaker 2: we're able to score twice when they were down by
• 0:45
  Speaker 2: four scores. Yeah, somehow that's not exciting.
• 0:48
  Speaker 1: And thank god the opposing team does commit some penalties
• 0:51
  Speaker 1: resulting in or nearing to our benefit. Otherwise, you know,
• 0:54
  Speaker 1: you don't even have a glimmer of hope anyway.
• 0:56
  Speaker 2: Brian James, Who day, Brian Whoday is what we're really
• 0:59
  Speaker 2: trying to say here?
• 1:00
  Speaker 1: It is?
• 1:00
  Speaker 2: It is all right now.
• 1:01
  Speaker 1: I'm looking at the stat at the front of the
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  Speaker 1: Wall Street Jonal right now. Dal Jones futures up a scosh,
• 1:07
  Speaker 1: SMP up a scosh. Nasdaq futures up a scosh. Looks
• 1:10
  Speaker 1: like everybody's ignoring the government shutdown. I guess it doesn't
• 1:13
  Speaker 1: impact the stock market, or does it? Brian James, Well, and.
• 1:17
  Speaker 2: Any headline like that is you can't say it doesn't
• 1:20
  Speaker 2: have an impact, because these are things that do trickle
• 1:22
  Speaker 2: down eventually, but these aren't immediate impact. We've had shutdowns,
• 1:26
  Speaker 2: shutdowns before. This is not a new thing. It's just
• 1:29
  Speaker 2: a temper tantrum that happens pretty regularly, like clockwork. Once
• 1:33
  Speaker 2: we get in certain political situations. We got to run
• 1:36
  Speaker 2: the football back and forth. But no, this is not
• 1:38
  Speaker 2: something we're overly concerned about having a major major impact
• 1:42
  Speaker 2: on the overall government so that the overall stock market.
• 1:46
  Speaker 1: Rather.
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  Speaker 2: The longest shutdown we ever had was in twenty eighteen,
• 1:48
  Speaker 2: and that lasted about thirty five days. The rest of
• 1:50
  Speaker 2: them average about five to seven days, So who knows
• 1:53
  Speaker 2: where we're going to be. We're already several days into
• 1:55
  Speaker 2: this one, and it doesn't seem to be any much
• 1:57
  Speaker 2: willingness to come to the table. But it does not
• 1:59
  Speaker 2: benefit anyone to permanently shut down the government. That doesn't
• 2:02
  Speaker 2: help either side, no matter what, where, which aislier, or
• 2:05
  Speaker 2: which side of the ASL you're on. But so so
• 2:07
  Speaker 2: the anticipation is that eventually we're going to sort ourselves
• 2:10
  Speaker 2: out and come to some kind of begrudging agreement and
• 2:12
  Speaker 2: move on with our lives.
• 2:13
  Speaker 1: Well, I've seen the cost of the government shutdown, you know,
• 2:16
  Speaker 1: translated into like the impact on the economy that grow
• 2:19
  Speaker 1: GDP like fifteen billion dollars a week. I mean, part
• 2:24
  Speaker 1: of me wants to suggest that I did earlier in
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  Speaker 1: the program that well, you know, there's the make work
• 2:29
  Speaker 1: that the government creates. In other words, you know, they
• 2:32
  Speaker 1: they create opportunities and create new businesses from a whole cloth.
• 2:37
  Speaker 1: I mean, you know, tell people you have to capture carbon.
• 2:40
  Speaker 1: The next thing, you know, there's a whole bunch of
• 2:41
  Speaker 1: businesses popping up that are serving the purpose of capturing carbon,
• 2:44
  Speaker 1: which wasn't even an issue five minutes prior, so they
• 2:48
  Speaker 1: do impact what we do and how we live our lives.
• 2:51
  Speaker 1: Brian I was arguing about the tax code. How many
• 2:53
  Speaker 1: accountants are employed because the tax code is so blank
• 2:56
  Speaker 1: and complicated.
• 2:57
  Speaker 2: Yeah, it was three presidential elections to go on that
• 3:00
  Speaker 2: specific topic. I believe that we were all going to
• 3:02
  Speaker 2: be doing them on index cards. He did kind of
• 3:04
  Speaker 2: go away. It did. The Into It lobby had an
• 3:06
  Speaker 2: awful lot to do with that. Into It being the
• 3:08
  Speaker 2: company behind TurboTax.
• 3:09
  Speaker 1: There you go and an entire multi multi Can you
• 3:12
  Speaker 1: imagine how much impact of the gross domestic product if
• 3:14
  Speaker 1: you got rid of accountants and the need for them,
• 3:17
  Speaker 1: because you well turned the tax code into something that's
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  Speaker 1: easy to do by yourself without any assistance.
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  Speaker 2: They can't do that. Oh my god, we all die.
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  Speaker 2: The federal government is the largest customer of everybody's business
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  Speaker 2: on the face of the earth. It simply is, there's
• 3:32
  Speaker 2: just that much money that circulates through the United States
• 3:34
  Speaker 2: federal government. So yes, as these as we slow things down,
• 3:39
  Speaker 2: then you know, we have a lot of people who
• 3:40
  Speaker 2: are now unemployed because the departments were shut down. Some
• 3:43
  Speaker 2: of them are coming back to work because courts are
• 3:44
  Speaker 2: ruling that they shouldn't have been unemployed in the first place.
• 3:46
  Speaker 2: I'm referring, of course, to federal workers here just during
• 3:50
  Speaker 2: this year as we've shut things down, So yeah, there's
• 3:53
  Speaker 2: definitely an impact there. And so this government shut down
• 3:56
  Speaker 2: started on October first, and it is already silenced that
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  Speaker 2: most sequential release of this month, that is the September
• 4:02
  Speaker 2: Employment report. So if this lasts for three more weeks,
• 4:05
  Speaker 2: the September CPI inflation numbers are also going to have
• 4:07
  Speaker 2: to be withheld, and the October labor survey is not
• 4:10
  Speaker 2: going to get announced either, because we don't do these
• 4:12
  Speaker 2: things anymore during a shutdown. So we're thinking this is
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  Speaker 2: pretty much transitory. We've been through this before, and prior
• 4:19
  Speaker 2: episodes of shutdowns suggest that these furloughed workers will come
• 4:22
  Speaker 2: back with back pay, so that that is what has
• 4:25
  Speaker 2: happened in the past. So you're exactly correct. A call
• 4:26
  Speaker 2: out if we're not doing things and that means money
• 4:29
  Speaker 2: is not circulating the way it normally does. That is
• 4:31
  Speaker 2: absolutely true. But historically speaking, we've brought these workers back
• 4:34
  Speaker 2: and given them their backpay, so that should settle itself
• 4:38
  Speaker 2: out well.
• 4:38
  Speaker 1: And you know, I know the blame game is being pointed,
• 4:41
  Speaker 1: and I think at least in so far as US
• 4:43
  Speaker 1: keeping continuing funding levels from last year's budget levels, those
• 4:47
  Speaker 1: are the Democrats numbers. That seems to be the right
• 4:50
  Speaker 1: step for the Republicans. Dude, we're giving you everything you
• 4:52
  Speaker 1: wanted last year, and we're going to continue that until
• 4:55
  Speaker 1: and here's my problem, we finish up the twelve appropriations bill.
• 4:58
  Speaker 1: So both sides are blaming me because they don't do
• 5:00
  Speaker 1: their damn job. They haven't done to twelve appropriations bills
• 5:03
  Speaker 1: since like nineteen ninety seven or something crazy like that,
• 5:06
  Speaker 1: so you know, damn all of them.
• 5:08
  Speaker 2: Yeah, I completely agree. I think I think we've just
• 5:10
  Speaker 2: had a point of just just absolute dysfunction. The necessity
• 5:14
  Speaker 2: of moving forward will force a break at some point.
• 5:18
  Speaker 2: Somebody's going to have to blink, because this is just
• 5:20
  Speaker 2: one gigantic game of chicken. We can't shut down the
• 5:22
  Speaker 2: federal government for months upon months or years upon years.
• 5:25
  Speaker 2: It simply isn't going to work that way, and it's
• 5:27
  Speaker 2: going to hurt everyone, which means nobody gets reelected. That's
• 5:30
  Speaker 2: what we're doing right now. I think we're in the
• 5:31
  Speaker 2: phase of this where we have to fight, fight, fight, fight,
• 5:34
  Speaker 2: fight so that and give no ground whatsoever so that
• 5:37
  Speaker 2: we will get reelected. We haven't hit the point yet
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  Speaker 2: where voters demand, hey, get together and sort this stuff
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  Speaker 2: out so we can all move on with our lives.
• 5:43
  Speaker 2: Right now, everybody is simply posturing themselves for their own reelections.
• 5:46
  Speaker 1: Well, and going back to the word, eventually, the markets
• 5:49
  Speaker 1: will eventually start to react to this shutdown. Obviously it
• 5:54
  Speaker 1: hasn't happened yet. I don't know what they're going to
• 5:55
  Speaker 1: do this week. But assuming for the sake of discussion,
• 5:58
  Speaker 1: we have to look back to that longest government shutdown period.
• 6:01
  Speaker 1: How long did it take, if you recall, for the
• 6:04
  Speaker 1: markets to actually reflect the shutdown in the numbers.
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  Speaker 2: So it really wasn't that big of a deal. In
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  Speaker 2: back in twenty eighteen when when the federal government shut
• 6:13
  Speaker 2: down for just a few weeks, well thirty five days
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  Speaker 2: or so it was. So that was the longest one
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  Speaker 2: in history, and it did have a real impact, but
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  Speaker 2: it was pretty temporary. So the shutdown started December twenty
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  Speaker 2: second of eighteen and ended January twenty fifth of nineteen,
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  Speaker 2: and this was over, we were already in a broader
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  Speaker 2: market sell off that was happening due to trade tensions
• 6:32
  Speaker 2: and federal rate hikes. In December of twenty eighteen, that month,
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  Speaker 2: the S and P five hundred had dropped nearly ten percent,
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  Speaker 2: and that was the worst December since the Great Depression
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  Speaker 2: at that time. But that was before the actual shutdown, right,
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  Speaker 2: So by late January of twenty nineteen, when it was over,
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  Speaker 2: the market had come back sharply. The S and P
• 6:47
  Speaker 2: five hundred rebounded about eight percent within two weeks, and
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  Speaker 2: it just looked more It looked at that time more
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  Speaker 2: like a temporary market swing. Where we always talk about
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  Speaker 2: the market can handle bad news. It loves good news.
• 7:00
  Speaker 2: What it can't handle, what it absolutely hates is no news.
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  Speaker 2: So while we're wondering exactly what's going on, the market
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  Speaker 2: will wander and money will find its way to less
• 7:08
  Speaker 2: risky assets until we can tell exactly what's coming till
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  Speaker 2: we can kind of see through the fog a little bit.
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  Speaker 1: So once the government shutdowns over that quote unquote threat
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  Speaker 1: to the economy is alleviated and things returned to normal.
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  Speaker 1: Once the government opens back up. Under the twenty nineteen law,
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  Speaker 1: every federal employee is going to get their back pay.
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  Speaker 1: They're not going to be deprived to pay. So that's
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  Speaker 1: over with. When we reflect back on all the government
• 7:28
  Speaker 1: shutdowns that we've lived through and even knows that we
• 7:30
  Speaker 1: haven't personally lived through, we see that the world did
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  Speaker 1: not end and everything kind of came back to status quo.
• 7:35
  Speaker 1: So there's no I mean, to the average my average listener,
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  Speaker 1: they're like, screw it, I don't care that the government
• 7:44
  Speaker 1: shut down because it always goes back to the way
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  Speaker 1: it was beforehand and nobody ultimately gets hurt.
• 7:48
  Speaker 2: Yeah, and I am your average listener. I am my
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  Speaker 2: own client, and that's the way I think about my
• 7:53
  Speaker 2: own family and my own dollars. There's nothing going on
• 7:55
  Speaker 2: in the headlines right now that causes me to say,
• 7:57
  Speaker 2: you know what, I really need to go deal with
• 7:59
  Speaker 2: my portfolio or something different, change my financial life around that.
• 8:02
  Speaker 2: That's just not the case. This is no fun to
• 8:04
  Speaker 2: go through and it's gonna hurt. There's no way, there's
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  Speaker 2: no sacrifice that's gonna be made. So, for example, in
• 8:09
  Speaker 2: that year, the estimate is that by federal workers missing
• 8:12
  Speaker 2: those paychecks, even though they got backpay, that still pulled
• 8:15
  Speaker 2: about about eleven billion dollars out of the GDP. That quarter,
• 8:19
  Speaker 2: but about about eight billion of it was recovered when
• 8:22
  Speaker 2: those paychecks finally went out again, meaning the net loss
• 8:25
  Speaker 2: was three billion dollars worth of economic activity. That is
• 8:27
  Speaker 2: nothing when we talk about trillions. So I'm not holding
• 8:31
  Speaker 2: my breath that there's really gonna be anything all that momentous.
• 8:33
  Speaker 2: Don't run around and change your four O one K
• 8:35
  Speaker 2: based on these headlines.
• 8:36
  Speaker 1: Well, and I suppose it suggests to politicians who think
• 8:39
  Speaker 1: they're going to get some sort of leg up based
• 8:41
  Speaker 1: upon the government shutdown being someone else's fault. We don't
• 8:47
  Speaker 1: care enough out here about the government shutdown to make
• 8:49
  Speaker 1: that resonate as a political message. I know it's politics
• 8:52
  Speaker 1: brought out money, Brian, but that's kind of what I'm
• 8:53
  Speaker 1: concluding here.
• 8:55
  Speaker 2: Yeah, I would. I would say that's the case. Now
• 8:56
  Speaker 2: this drags on and on and on, then absolutely it
• 8:59
  Speaker 2: will start to trickle through. That's when people are going
• 9:01
  Speaker 2: to start to notice. But right now and then, I
• 9:03
  Speaker 2: think the first people place people would see that is
• 9:05
  Speaker 2: in there for in case, because the market would start
• 9:06
  Speaker 2: to say, you know what, this has gone on too long.
• 9:08
  Speaker 2: We're going to pull back here a little bit. But
• 9:10
  Speaker 2: that is not We're nowhere near that stage right now.
• 9:12
  Speaker 1: But we may be near the cost of living adjustment
• 9:15
  Speaker 1: and Social Security and maybe, just maybe this shutdown may
• 9:18
  Speaker 1: have an impact on snapping wick benefits. Brian's going to
• 9:20
  Speaker 1: answer those two questions in the next segment. Stick around.
• 9:23
  Speaker 1: It's just shy of eight fifteen right now, and it's
• 9:25
  Speaker 1: opportunity for you to mention wall Zimmer Heating and cooling.
• 9:27
  Speaker 1: Who's been the trusted name, hey Monday with all the
• 9:29
  Speaker 1: financials Brian Jane financial planner he is, and someone who's
• 9:33
  Speaker 1: going to tell about this, tell us about this government
• 9:35
  Speaker 1: shutdown is going to impact social Security, is going to
• 9:37
  Speaker 1: impact SNAP and work benefits. Let's start with social Security.
• 9:41
  Speaker 1: The Social Security recipients are eligible for a nice sizable
• 9:44
  Speaker 1: cost of living adjustment. Unlike Joe Strecker, they get one,
• 9:47
  Speaker 1: but the Bureau of Labor Statistics has to do some
• 9:49
  Speaker 1: number crunching before that can happen. I guess the BLS
• 9:52
  Speaker 1: is kind of shut down during the shutdown, so we
• 9:55
  Speaker 1: aren't going to get the stats needed to do a
• 9:56
  Speaker 1: COLA adjustment.
• 9:58
  Speaker 2: Yeah, go figure, right, So as soon as as soon
• 10:00
  Speaker 2: as we need the we need some new numbers here.
• 10:02
  Speaker 2: We don't have them because we did choose to not
• 10:04
  Speaker 2: report them here very recently. So this is good. So
• 10:08
  Speaker 2: this shutdown that began October first, that could delay the
• 10:11
  Speaker 2: announcement of the twenty twenty six Social Security COLA cost
• 10:14
  Speaker 2: of living adjustments that normally happens right in the middle
• 10:16
  Speaker 2: of October. And like you said, it's a Bureau of
• 10:18
  Speaker 2: Labor Statistics. They were told to suspend data collection until
• 10:22
  Speaker 2: we can sort things out, supposedly and the specifically for
• 10:26
  Speaker 2: the September CPI. That's the last piece we need to
• 10:29
  Speaker 2: finish off that COLA calculation. Now importantly, I want to
• 10:32
  Speaker 2: make sure that that nobody is hearing me saying that
• 10:34
  Speaker 2: checks aren't going to go out.
• 10:35
  Speaker 1: That's got anohing no no, no, no no no, yeah, yeah,
• 10:37
  Speaker 1: very important qualification. You will get your Social Security check,
• 10:42
  Speaker 1: it just may not be increased for the cola.
• 10:44
  Speaker 2: But how much money.
• 10:45
  Speaker 1: Let's just cut to the chase on this one, Brian,
• 10:47
  Speaker 1: because I saw the article that you provided in connection
• 10:49
  Speaker 1: with this. You know I seniors are entitled to this.
• 10:52
  Speaker 1: It's going to be delayed. It'll probably come up eventually
• 10:55
  Speaker 1: when the government opens back up. But can you live
• 10:58
  Speaker 1: without maybe fifty four dollars additional money? In your payment
• 11:01
  Speaker 1: each month.
• 11:02
  Speaker 2: Yeah, let's recall that this this wasn't a whopper that
• 11:05
  Speaker 2: was coming anyway. So analysts had already been projecting about
• 11:07
  Speaker 2: a two point seven to two point eight percent increase
• 11:10
  Speaker 2: in Social Security, so it wasn't going to be a
• 11:12
  Speaker 2: huge change too. Now, now that's a lot for some people.
• 11:14
  Speaker 2: I don't mean to say that, no, no, no, every nickel counts.
• 11:16
  Speaker 2: But at the same time, this isn't going to put
• 11:18
  Speaker 2: somebody on the street instantly. It would be nice if
• 11:21
  Speaker 2: we could get our stuff together as a country and
• 11:23
  Speaker 2: figure out exactly how we're going to move forward on
• 11:25
  Speaker 2: these things. But I guess we're going to go through
• 11:26
  Speaker 2: some convulsions before we get there.
• 11:28
  Speaker 1: But fundamentally the check will come. A question be how
• 11:31
  Speaker 1: much it is. So now moving over to some critical
• 11:35
  Speaker 1: service release for some folks, the SNAP Supplemental Assistance Program
• 11:41
  Speaker 1: and WICK benefits. How about these because I know some
• 11:43
  Speaker 1: people are suggesting they're not going to go through, but
• 11:45
  Speaker 1: in other places I've read now they're going to continue,
• 11:48
  Speaker 1: just like sis A security.
• 11:49
  Speaker 2: Yeah, so there's two different programs happening here. So there's
• 11:52
  Speaker 2: SNAP and WICK is the one that's more at risk
• 11:54
  Speaker 2: because of the way it works, So WICK stands for women, infants,
• 11:57
  Speaker 2: and children, and that basically is very specific to single
• 12:01
  Speaker 2: women and children up to age five. This is a
• 12:05
  Speaker 2: discretionary program, so this means that it has to be
• 12:08
  Speaker 2: voted on yearly from Congress to stay funded. So as
• 12:10
  Speaker 2: soon as the government shuts down, it goes away immediately.
• 12:13
  Speaker 2: That could run out of funds within one or two
• 12:15
  Speaker 2: weeks according on this is from that's from the White
• 12:17
  Speaker 2: House's own budget office. That will affect food assistance for
• 12:20
  Speaker 2: about six million mothers and young children nationwide. Now, the
• 12:23
  Speaker 2: other one is SNAP. That's the Supplemental Nutritional Program and
• 12:28
  Speaker 2: all the different states. It's federal money, but the states
• 12:31
  Speaker 2: administer it. Some states have their own program called something else,
• 12:34
  Speaker 2: so for example, California called SNAP. CalFresh, Ohio simply chooses
• 12:38
  Speaker 2: to call SNAP SNAP to keep it simple. So October's payments,
• 12:41
  Speaker 2: so these are EBT cards. You see signs at the
• 12:44
  Speaker 2: cash register reflecting EBT cards. That's the SNAP program. October's
• 12:48
  Speaker 2: payments were already loaded onto those EBT debit cards, so
• 12:51
  Speaker 2: it's not going to affect this month. But if Congress
• 12:53
  Speaker 2: doesn't act soon, then November's SNAP benefits could be delayed
• 12:56
  Speaker 2: or reduced. So if you're on Wick, then you might
• 12:58
  Speaker 2: be you might want to start paying attention to the
• 13:00
  Speaker 2: headlines here. If you're on Snap, you've got a few
• 13:02
  Speaker 2: more weeks.
• 13:04
  Speaker 1: Well that's fair enough.
• 13:05
  Speaker 2: So ultimately we don't care.
• 13:07
  Speaker 1: In the real world, most people are not going to
• 13:09
  Speaker 1: be completely impacted by this, probably won't even realize the
• 13:12
  Speaker 1: government shut down until it opens back up.
• 13:14
  Speaker 2: Again.
• 13:14
  Speaker 1: You're a little about your life so the way you
• 13:15
  Speaker 1: went about them before the government shut down, So that.
• 13:19
  Speaker 2: Is a true statement. Again again, I'm not seeing anything
• 13:22
  Speaker 2: here that should cause somebody out to run out there
• 13:24
  Speaker 2: and go run their lives differently, to make different decisions.
• 13:27
  Speaker 2: These are simply headlines as we go through, everybody getting
• 13:30
  Speaker 2: their say in Congress, and hopefully we will get through
• 13:33
  Speaker 2: this sooner rather than later.
• 13:34
  Speaker 1: Hey, real quick here in a completely different direction, the
• 13:37
  Speaker 1: catch up provision of four to one K that changed
• 13:39
  Speaker 1: this year, didn't it.
• 13:41
  Speaker 2: Yeah, So there was a new rule put in place
• 13:44
  Speaker 2: to allow for more people to put in to put
• 13:47
  Speaker 2: in more money. So there's now the catch up. The
• 13:49
  Speaker 2: way it always was was anybody over fifty could put
• 13:52
  Speaker 2: a little more into the program. That's currently an extra
• 13:56
  Speaker 2: seventy five hundred dollars if you're over fifty. So that
• 13:59
  Speaker 2: basic means that you can put in thirty one thousand
• 14:02
  Speaker 2: dollars if you're simply over fifty. That's not new, that's
• 14:04
  Speaker 2: been there for a while, right. The super catch up
• 14:06
  Speaker 2: this is for if you're between ages sixty and sixty three.
• 14:09
  Speaker 2: This is a part of Secure Acts two point zero
• 14:13
  Speaker 2: basically says that you can put in another eleven two
• 14:16
  Speaker 2: hundred and fifty dollars on top of it. So that's
• 14:19
  Speaker 2: the big change that came through there.
• 14:23
  Speaker 1: I've always scratched my head over why there was a
• 14:25
  Speaker 1: maximum contribution to four oh one K in the program.
• 14:28
  Speaker 1: Is that so they ensure that we continue to spend
• 14:30
  Speaker 1: money in the economy as opposed to socket away for
• 14:33
  Speaker 1: our future.
• 14:33
  Speaker 2: My best guess on that, Brian, is that, well, I mean,
• 14:37
  Speaker 2: I'm just not a guess. This is why, because if
• 14:39
  Speaker 2: you're somebody who has that much cash flow and there
• 14:41
  Speaker 2: was no limit on it, then we would be sheltering
• 14:43
  Speaker 2: billions of dollars, if not trillions via four oh one
• 14:46
  Speaker 2: K retirement plans. So it's there to affect the super
• 14:50
  Speaker 2: wealthy from being able to benefit too much from tax
• 14:52
  Speaker 2: planning and starving the government of revenue that it needs.
• 14:56
  Speaker 1: I think the latter point a little bit more starving
• 14:58
  Speaker 1: the government of revenue it needs. Oh, we are financial planner,
• 15:03
  Speaker 1: will tell you to live within your means. At least
• 15:04
  Speaker 1: that'd be my guests.
• 15:05
  Speaker 2: We don't have those at the Federal guide.
• 15:07
  Speaker 1: Brian James had to take a cheap shot at the
• 15:08
  Speaker 1: federal government's reckless spending. Brian James, all with financial appreciate
• 15:12
  Speaker 1: them loading out you every Monday at this time to
• 15:14
  Speaker 1: talk money matters. And of course we know there's that
• 15:16
  Speaker 1: secret group of women who listen intently every Monday. We're
• 15:21
  Speaker 1: hanging on your words.
• 15:22
  Speaker 2: We are going to we are going to do it
• 15:23
  Speaker 2: and say we got a listener request. We're going to
• 15:25
  Speaker 2: put a segment together on credit unions we're interested in
• 15:28
  Speaker 2: and some social Security updates. So look forward to that
• 15:30
  Speaker 2: in the near future.
• 15:31
  Speaker 1: They are anxiously awaiting it. And good morning, ladies, even
• 15:34
  Speaker 1: though you do remain anonymous. Brian James, Thanks man, We'll
• 15:36
  Speaker 1: talk next month.