3/27/25 The Economic Curve Ball: Tariffs, Opening Day, and the Fight Against Blood Cancers

The Moneywise Radio Show and Podcast Thursday, March 27th BE MONEYWISE. Moneywise Wealth Management I "The Moneywise Guys" podcast call: 661-847-1000 text in anytime: 661-396-1000 website: www. MoneywiseGuys.com facebook: Moneywise_Wealth_Manageme instagram: MoneywiseWealthManagement Guest: Ryan Meloche, Leukemia & Lymphoma Society Visionary of the Year Candidate, Class of 2025 websites: https://www.lls.org/ https://pages.lls.org/voy/cca/bako25/rmeloche

• 0:00Speaker 00

  From the padded radio room off Stockdale Highway, here is Money Wise. Call or text in at 661-396-1000.

• 0:09Speaker 01

  (SINGING) I need a dollar, dollar, dollar, that's what I need. Hey, hey. Well, I need a dollar, dollar, dollar, that's what I need. Hey, hey. Said I need a dollar, dollar, dollar, that's what I need. And if I share with you my story, would you share your dollar with me?

• 0:29Speaker 02

  Securities offered through SCF Securities, Inc., member FINRA/SIPC. Investment advisory services offered through SCF Investment Advisors, Inc. SCF Securities, Inc. and Money Wise Wealth Management are independently owned and operated.

• 0:39Speaker 00

  Now, let's start the Money Wise Show.

• 0:42Speaker 03

  Let's start the Money Wise Show. That's right, I'm your host today, Chris Pelster, joined with?

• 0:49Speaker 00

  Seth Perry.

• 0:50Speaker 03

  The Chris Pelster, Seth Perry team. So, we're coming at you live, ready to rock and roll, opening day. We are in the Garret Ellis padded radio room off Stockdale Highway on ESPN Radio, 1230, 101.1 FM, always streaming it, Money Wise Guys, and that's right, you hear it, it's opening day, and it was actually kind of a, it definitely was a holiday here in the office, even though Garret Ellis would still show up every year for work, as long as the Dodgers weren't playing from 8 till 5, those times were reserved. He made a big deal of it, there was never a year where he was not in Dodger blue, or some sort of Dodger outfit. Stevens pumping his Dodger cup over there.

• 1:34Speaker 03

  So, thinking about you, Gee, I'm sure you're enjoying opening day, but yeah, this is the Money Wise Radio Show, and thanks for all you've done for us, and we're standing on your shoulders, my friend. I did want to look a little bit into, before we get into the markets and do what we do, I was kind of thinking about it, talking about Major League Baseball, I wonder if opening day blows the doors off as far as numbers, revenue, because everything probably gets heightened, tickets are nuts, but if you didn't know this, MLB is a little shady, not shady, I should say secretive, about their data and numbers and revenue figures.

• 2:15Speaker 03

  So it's really difficult to actually kind of like hone in on what the difference is on the day of opening day, um, kind of a thing, but in 2024 MLB generated a record 12.1 billion dollars in revenue with over 70 million fans attending games throughout the season. This averages to approximately 172.9 million in revenue per game. So next time you hear about them big salaries, um, I just said 172.9 million per game.

• 2:56Speaker 03

  So opening day, maybe per game, it, it's up a lot higher because I'm sure there's lots of other games. I don't know if you've watched an A's game lately. I don't think they're doing 172 mil, just to guess, but, uh, but anyways, yeah. So opening day probably does huge numbers.

• 3:14Speaker 00

  Where are they playing this season? Is it the last year of Oakland or do they already move?

• 3:19Speaker 03

  No, I, I forget where it is, but there's, they're playing like a college stadium, I think, or something until they decide on whether or not it's going to be Vegas or whatever. I, you know, I mean, this is why Garo was such a, the monster in this area. He always knew all the details. Um, I think we have a, we have a sports fan in the studio. He's gonna have to.

• 3:39Speaker 00

  Yeah. What, what do you think Seth?

• 3:41Speaker 04

  Not a huge baseball fan. I hope that doesn't ruffle any feathers. Now my brother's mega honk, mega Dodgers honk. Um, I think he may even have a, a tattoo on his body of the, of the logo, but my, my question is, weren't there some big moves to the Dodgers in the off season?

• 3:58Speaker 03

  Always. Yeah. Basically bought everybody that was really.

• 4:02Speaker 04

  Yeah, right. That's kind of what's been, what they've been doing, right?

• 4:07Speaker 03

  Yeah, I mean, it starts every year like their pitching staff this year is is like most teams would be very excited if they had like three or four of them and like all 10. But the Dodgers uh MO for a long time. Everything starts beauty must and then injuries and you know, some of these things happen and and you know, it is what it is, but obviously some Dodger fans here at MoneyWise, other fans too.

• 4:32Speaker 04

  Either of you guys watch Dude Perfect?

• 4:34Speaker 03

  Uh, yes.

• 4:36Speaker 04

  Uh, so Dude Perfect, if you're not familiar, it's arguably the best YouTube program of all time because it's good, clean entertainment and it's literally just some college dudes, five buddies that started making trick shot videos and now it's the, I believe, number two or number three uh uh biggest YouTube channel. Anyway, they had one on recently

• 4:57Speaker 04

  to see if, I can't remember which one of them, could hit a 900 mile an hour fastball. They had this uh mega cannon made and so literally shooting 900 mile an hour fastballs.

• 5:07Speaker 03

  900 mile an hour.

• 5:08Speaker 04

  Dude, absolutely. But if you're want, if you've got some little kids, you're wanting some good, clean entertainment and then you get to do some trick shots at home, I recommend Dude Perfect.

• 5:16Speaker 03

  Yeah, it's funny. Uh, I have uh three daughters, so Dude Perfect probably wouldn't have been the top choice, even if i- i- if the timing was a little different. But it is funny that you say that because a lot of my buddies have sons and I go over there and it's like they're walking around staring at Dude Perfect, sitting down in groups, watching Dude Perfect. It is like Dude Perfect Central uh so so often at my buddy's house.

• 5:38Speaker 04

  We actually saw them down, down in LA, I think it was two years ago and it was, I mean, I think my wife and I had more fun than the kids. It was awesome. And all they did was they literally competed live in the stadium and then would run around and we're like, I'm thinking, dude, we're, they are making so much money to run around and play.

• 5:56Speaker 03

  Yeah. And the funny thing is, is those are those things that like, uh, if you would have started to do that back when we were younger, like you could never make money doing that. Get a haircut and get a real job, you know, and here they are. Um, probably done very well for themselves. As a matter of fact, the last video I will say that I did watch of them, it was just like a little bitty blurb and it was they were moving out of like their third building.

• 6:16Speaker 04

  Huge place.

• 6:16Speaker 03

  Into a new building, um, that's even like bigger and because they do all this stuff and obviously just create content, but it is harder.

• 6:25Speaker 04

  If I told you about my idea, so I've only had one really good idea.

• 6:28Speaker 03

  Just tell me right here in secret, so nobody else will know in case it's a really good idea.

• 6:32Speaker 04

  So listen, listen, I'm in college. So this is 98 to 2002 and, uh, without getting specific, guys started to take better care of their, their, uh, appearance.

• 6:43Speaker 03

  Okay.

• 6:43Speaker 04

  New products started to pop up and that's when Victoria's Secret body spray was all the, all the rave, right? And I thought, dude, probably should just be a, a guy's body spray, right? I didn't, I didn't act on the idea. Could have been rich. And what was the first one? What's the first one you remember?

• 7:00Speaker 03

  Axe.

• 7:01Speaker 04

  In a squirt bottle. No.

• 7:02Speaker 03

  Oh, no.

• 7:03Speaker 04

  In a squirt bottle. You remember Steven?

• 7:06Speaker 00

  No.

• 7:07Speaker 03

  Steven was in junior high.

• 7:08Speaker 04

  Dude.

• 7:09Speaker 00

  And I had no hair, so.

• 7:10Speaker 04

  It was Bod.

• 7:11Speaker 03

  Bod.

• 7:11Speaker 00

  Oh, yes.

• 7:13Speaker 04

  That was the first one. I saw that. I'm like, no, they beat me to it. But anyway, on with the markets here.

• 7:17Speaker 03

  Okay.

• 7:18Speaker 00

  Well, before you do that, uh, we were, um, were happily joined yesterday by, uh, Stilian Kirav and Holly Arnold over at the Bakersfield Symphony Orchestra, and they left a pair of tickets.

• 7:30Speaker 04

  Nice.

• 7:31Speaker 00

  So if you're listening right now and would like to text in at 661-396-1000, you might just win a pair of tickets to the Bakersfield Symphony Orchestra, which is, uh, this Saturday night at 6:30 PM. It's the Mozart and Beethoven, uh, show.

• 7:47Speaker 03

  There you go.

• 7:48Speaker 04

  And he is not stringing you along either.

• 7:50Speaker 00

  Ah, here we go.

• 7:53Speaker 03

  Dad jokes. All right. Uh, we did want to jump in a little bit and it kind of ties into, we had a couple of comments come in. You can always join us in the conversation, our, uh, texts or, or, or call in any questions, 661-396-1000. Uh, we did have one comment about the tariffs. We'll jump into that after that, but that is obviously still the talk. Uh, there's some discussions on auto tariffs and some of these different things. Uh, the markets, uh, did end in, uh, negative territory today. Um, each of them about point three percent down. S and P's at 5,000, 693.

• 8:26Speaker 03

  Dow's at forty two thousand two ninety nine, both down about three tenths of a percent. NASDAQ took the bigger slide. Tech companies, a little bit more volatile, down ninety four points to seventeen thousand eight oh four. Crude oil moved into positive territory, so sixty nine ninety one. It's up about almost four tenths of a percent. And gold, we also have a question about gold. It's at three thousand sixty eight seventy. That's actually a one point five percent move on gold.

• 8:55Speaker 04

  Wow.

• 8:55Speaker 03

  So, those are some of the numbers, kind of, you know, more of the same discussions. Obviously, the market doesn't like uncertainty. There's still a little bit of uncertainty of what tariffs are going to hit and what their impact's going to be. And just wanting to get a little bit more, right now, it's cloudy, it's foggy, it's hard to see far ahead. For those of you that have been around Bakersfield for a long time, fog used to be a lot worse. I don't know if it's.

• 9:21Speaker 04

  Tully fog.

• 9:22Speaker 03

  Yeah, and I think it has a little bit to do with.

• 9:25Speaker 04

  All the dried up agriculture.

• 9:26Speaker 03

  I've heard, and because they got much better about how they water. Like, you don't overwater fields like they used to. That has some of it. I think they put in a couple of different roads and streets and neighborhoods.

• 9:36Speaker 04

  Plucked up a lot of local agriculture and built houses. Bakersfield's exploded, so.

• 9:43Speaker 03

  Yeah.

• 9:43Speaker 04

  They used to love those fog delays.

• 9:44Speaker 03

  Yeah. So, we did have a couple of questions come in, though, and I did want to jump into those. So, it says, "Thank you for going over my tariff questions earlier this week. Here's another one. What are the potential economic impacts of the tariffs on domestic equities?" Or, does it say equities? I turned off. Industries.

• 10:08Speaker 04

  Yep.

• 10:08Speaker 03

  So, what do you think there?

• 10:10Speaker 04

  Well, one of the things is, there's always two sides to every argument, right? And so, some of the benefits, it's gonna, it's gonna create jobs. That's kind of, you know, that's the overall goal of these tariffs, right? Generate a little bit of revenue for the country, right? Bring some, bring some jobs in, so it's going to stimulate job growth. That's like the positive benefits. The potential downsides to our domestic market is. Even if people are building local and selling local, they're importing a lot of their, a lot of their raw goods and raw materials. And so that's where these tariffs are gonna then get passed on. And so then that just creates a landslide. There's, there could be retaliatory tariffs from other countries, which we're doing that now to some other countries. There's

• 10:53Speaker 04

  supply chain disruptions and, you know, potential for reduced competition, reduced competition and innovation, and then obviously rise potential risk for rise of inflation. However, so I was set up to be a guest, or I was a guest on Scott Cox yesterday. And when I walked in, he immediately just kind of made fun of my hair and we had a great time. We had a really good discussion.

• 11:16Speaker 03

  He doesn't like your haircut?

• 11:19Speaker 04

  He just, uh, well, he made fun of me for a multitude of things, but I mean, he is, I had a really good time. Like, I didn't really want to leave. But anyway, I was doing a little bit, a little bit of homework because I wanted to bring in some notes and act like I knew what I was talking about with tariffs. But are you guys familiar with what these reciprocal or secondary tariffs are?

• 11:40Speaker 03

  Enlighten us.

• 11:41Speaker 04

  So what it is, is basically in order to try to get more domestic oil and Venezuela is sending, again, this is all, all public information, right? But they're sending us criminals. They're doing a lot of nasty stuff, right? In the world economy. So a reciprocal tariff is where

• 12:02Speaker 04

  we impose tariffs on countries who are importing goods to us for no other reason than those countries are importing oil from Venezuela. So let's say, pick a country, Denmark is importing oil from Venezuela. When Denmark tries to bring their goods here, we're gonna slap a tariff on them, right? And so it's, uh, it's, there's so much going on right now. Like when you just said, and you can't really keep up. And then, one of the other main points. Was when you read the release from the White House on February 1st, it's kind of, you kind of laugh. I mean, it is true, but the reason for all the tariffs, the tariffs, the 25% on Mexico and Canada was because of the threat of illegal aliens and drugs, and that's verbatim from the White House, right?

• 12:46Speaker 04

  I know when I was at West, I used that term in a classroom one time and it was, oh my gosh, it set off a firestorm, right? I didn't realize it's now can be viewed as a derogatory term, but again, I'm just going right off the White House press and then, but the latest today are the auto tariffs. That's, that's, that's what hit the market today.

• 13:04Speaker 03

  Yeah, I'm sure that's going to also have a barrage of, barrage of social implications and discussions because somebody that's in the White House, that's a little polarizing right now, has an American auto company that is not impacted completely by the tariffs.

• 13:23Speaker 04

  Yeah. So GM today took a, what was that? I was reading a 7% drop, 4 to 4% drop, right? There's all these, these changes going on, but anyway.

• 13:34Speaker 03

  Yeah, but, but all automakers to some extent would be impacted by tariffs as well. Because like you said, raw materials are still being purchased from other countries. And there is like a long, like even if, you know, the good news is, oh, some jobs may come around. Well, it also doesn't happen overnight. So there is a lull, there is a, like, there's a, it's a changing of guard.

• 13:56Speaker 04

  Lag effect.

• 13:56Speaker 03

  Yes, if it does go through. And so that's where the market doesn't like to move in any one direction majorly. It's obviously cooled down, but like I always tried to tell you, some perspective is the market had been moving in a very positive territory for over, you know, almost two years or a little bit over two years, going back to 2022, when we actually had a negative year in the S and P 500 and some of the major indexes. So just a little perspective, deep breath and, and, you know, kind of stick with your goal and your plans and, you know, MoneyWise has been saying some of the same things for a very long time with all kinds of situations and realities and political climates and all these different things. And a MoneyWise plan remains a MoneyWise plan. So, so stick with yours.

• 14:39Speaker 03

  Stick around when we come back, we're going to talk a little bit about another question that came in regarding gold. And then we also are going to have a great guest here in a while, Ryan Malaki, uh, who is the visionary leader for L L S. He's the L L S visionary of the year. So he'll uh, get to inform us a little bit more about what that is and why they're doing what they do. Stick around.

• 15:01Speaker 00

  Money Wise Wealth Management is the only locally owned independent firm that uses a comprehensive wealth tax and estate approach. Working closely with a highly trusted CPA and attorney. For information on how Money Wise can help you invest and plan for your future. Call 661-847-1000. That's 661-847-1000.

• 15:32Speaker 03

  Yeah, I, I told my mom when I was in junior high with my original Nintendo, I was going to play Super Mario Brothers and record myself on V H S. And then people would pay money to watch me play it. And she told me I was a fool.

• 15:49Speaker 03

  And now look at that. Some of the top earning producers on YouTube.

• 15:52Speaker 04

  That's one thing.

• 15:53Speaker 03

  Have millions of people watching them play video games. I knew it. I knew it.

• 15:58Speaker 00

  Watching my son years ago, I'd buy him a new game and I'd go in his room and he'd be watching someone else play it. I'm like, what, what the hell are you doing?

• 16:07Speaker 03

  That's not, that's not how it works.

• 16:08Speaker 00

  You know, you have that game, right?

• 16:11Speaker 04

  It is strangely satisfying. I've been guilty one time. My kids were watching it. And that's not normally something we do, but I, I found myself sitting there like, this is so lame. But what he would do was he would have his, his viewers send in, like they would create their own Mario worlds. And then he would pick them at random and then play their world. They would make like these really crazy hard levels and he would talk through it and it was actually.

• 16:32Speaker 00

  Oh, and they actually build them?

• 16:33Speaker 04

  Yeah.

• 16:33Speaker 00

  Right on. Yeah.

• 16:36Speaker 03

  I don't know. Yeah. It's a whole different world. Yep. Well, luckily I've.

• 16:40Speaker 00

  And what's a VHS?

• 16:41Speaker 03

  Yeah.

• 16:42Speaker 04

  Eight track. And my first Mustang had an eight track player in it. Seven year Mustang.

• 16:45Speaker 00

  My first radio job was reel to reels in carts. So.

• 16:49Speaker 03

  So Seth threw out some of his years back in the day that he was doing a few things. And so one of the things I have on my desk, which it's actually a coaster. It's an old mini floppy disk.

• 17:01Speaker 00

  Oh, nice. I saw that today.

• 17:03Speaker 03

  And I have had so many of my clients be like, oh, I remember when you used to use those. And they're like, you use ones of coasters. And so actually it's rubber. It's it's made just to look like one, but.

• 17:12Speaker 04

  I mentioned it to my wife the other day. I was, hey, do you remember the three and a half inch floppies?

• 17:15Speaker 03

  Yeah.

• 17:15Speaker 04

  And she didn't remember it.

• 17:19Speaker 03

  Yeah. Well.

• 17:23Speaker 00

  Oh, my gosh.

• 17:24Speaker 03

  Sorry. I don't know why it got quiet all of a sudden, but let's jump into the question.

• 17:30Speaker 00

  I will read this one. Good afternoon, money wise. We are talking about the right one, right? The factors. Good afternoon, money wise guys. What specific market factors make January through May more favorable for gold investments compared to other months?

• 17:49Speaker 04

  Reasons. There's a few different things. So it's the peak of the Indian wedding season. You've got Valentine's.

• 17:59Speaker 03

  In China, it's lunar new year calendar stuff. Jewelry demand, basically, it boils down to more people are buying that. So that creates more demand. Obviously, that goes up. A lot of people also don't realize that sometimes in the first quarter or so of the year, central banks are maybe adjusting their reserves early in the year. And sometimes they do that by increasing gold on their books. So a lot of people don't realize that, you know, banks, when they're have so many loans on the books and different things, there's. Rules that they have to follow as far as what they have in reserves. And a lot of times

• 18:41Speaker 03

  when people talk about the 10 year treasury and some of those overnight lending rates, when we talk about interest rates a lot, it has to do with how much banks charge each other to move money back and forth because they have to have so much money in reserves based on how many loans that they have out there outstanding and all that stuff. Thus, why you have FDIC insurance on your deposited funds. So that if if there was major issues, they technically don't keep your money in the bank. It's just an IOU. I'm picturing Dumb and Dumber with the Post-its and the briefcase. Every time I talk about IOUs.

• 19:18Speaker 04

  Your gas man that's on the door.

• 19:19Speaker 03

  Yeah, obviously, our banking system is not perfect, but has created stability that has allowed a lot of people to succeed with money and in our society and our culture for a long time. So I'm thankful.

• 19:32Speaker 04

  Is it true that China bought all of our gold? That's like the rumor. Don't you know, I know we're on a fiat system now. We're only backed by the full faith of the US government.

• 19:41Speaker 03

  I thought those was gonna go tell us. Yeah, so maybe we'll get to the bottom of this.

• 19:47Speaker 04

  We'll find out.

• 19:47Speaker 03

  Yeah, I don't follow it too safely. But one of the things is, is I've been talking to clients for 20 years now about investments and all these different things. And every time there's fear and panic in the markets, gold skyrockets in value and it becomes very, very popular. And when it skyrockets in price, there's gold advertisements on every corner. And then all of a sudden, what you'll notice is when things settle down and things kind of get back to norm, gold, sometimes without people realizing it will drop sometimes significantly in price and stay much lower than it was at the peak for a long, long time. I got into the industry a few years before a wonderful season of investing in 2008, 2009, when there

• 20:31Speaker 03

  was a global pandemic, or not a pandemic, but a financial crisis. And, and so.

• 20:38Speaker 03

  At that time, what do you think gold did during that period? It skyrocketed and so, but then going into 2009, 2010, gold dropped significantly from its peak during that time and stayed at a discount or a much lower price for almost 10 years until low and behold, pandemic that created much fear and, and you know, all those things and it shot back up. And it's actually been on a little bit of a rampage since then. So sometimes there's a lot of feel fears and different things that are kind of wrapped into gold and why people invest in gold. You know, they, they, they, they think it's a safe haven and it, and to an extent it does have a historical past of keeping pace with inflation and those kinds of things.

• 21:23Speaker 03

  And, and so it's not a bad thing. It's part of most diversified portfolios, even inside of maybe your target date fund. There's probably going to be some companies that either hold gold or transport gold or, you know, get gold out of the ground or wherever they, they mine it or whatever they do to get it. But there's companies inside of your portfolios because those are certain stocks and certain, fund managers are going to want to have something that's going to do well. If inflation goes crazy, so they do have a little bit of exposure to that. But it's not like a, you know, like a, the silver bullet that, that you're going to avoid everything. And sometimes there's really weird reasonings of why somebody wants to take a huge stake in it.

• 22:06Speaker 04

  I had a client one time and, and in addition to gold, they literally had, I was $20,000 or $30,000 in cash hidden all around their house. Behind pictures underneath like, you know, not just how they say under the mattress, but they had it hidden behind a bunch of stuff in their house. And you know, that's, uh, that's one way to keep it from getting stolen. But you guys got to remember if cash is just sitting somewhere, one, it's not safe. Your house burns down, you get robbed, right? But it's just eating away. If I have a hundred dollar bill sitting on a table, it's losing on average 3.3% of its buying power every year. It's eroding away. So that's a big part of why we invest, not just to make those big, awesome returns, but it's do just keep pace with inflation.

• 22:43Speaker 03

  Right.

• 22:44Speaker 04

  Keep, keep pace with inflation, allow your money to be able to buy a gallon of gas this year as you could next year. Cause if you don't, if you don't, then.

• 22:53Speaker 03

  And you know, people, people have, you know, views and different things. And I'm never going to fault somebody like somebody might want to keep a ton of cash sitting in their, in their safe because of this or that, or what if you can't get to an ATM? Well, you know, probably. Personal safety is going to be the most important part at that time if we're going through some sort of like all out civil war or something. I don't even know what they're

• 23:13Speaker 04

  People still use safe deposit boxes? I have a fire rated safe in the house.

• 23:17Speaker 03

  Yeah, you can. But there's definitely, there's definitely things that, some things that you think would go into that, they won't allow you to do it. But what I was going to say is that you can have common sense. Like if you're somebody that really wants to keep a chunk of cash, obviously it needs to be in a safe. But keep a little bit of cash that you feel safe with because you can use it because it is how we can transact. But if it's just going to all be in cash, like Seth just mentioned, it's just going to sit there and lose value. So, uh, gold is one of those things you have to keep it in perspective. You have to understand that there are times where it's going up in value and you put money in it. It feels like it's a great one, but then if you have to end up holding it for five, six, seven, eight years, it doesn't pay a dividend. Um, if you're actually holding coins or jewelry and you sell it,

• 23:59Speaker 03

  it can actually be taxed as a luxury item versus actually like trading.

• 24:04Speaker 04

  I did not know that.

• 24:05Speaker 03

  Yeah. So, and that's, that's higher. It's a higher rate. Um, so, uh, so yeah, just some different things to consider. So thanks for the question about gold.

• 24:12Speaker 04

  Yeah, great question.

• 24:13Speaker 03

  Yeah, a couple, a couple of reasons why, you know, it's a little bit, uh, it's a little bit on the run. So again, thinking about the fact of gold, for the last couple of years, it's been on a rampage because inflationary situations in 2022, the beginning of the year right now, the, it's kind of still climbing up a little bit. And I just mentioned to you, I was curious to see what gold's going to do the rest of this year. Cause it's been on this little bit of a rampage and there might be a lot of people that start to say, hey, I'm going to start taking a little bit of my gold off the table or maybe sell it this.

• 24:40Speaker 04

  In the back of people's mind, I still think people think like if the sky falls, we go to war or something crazy that they're going to be able to buy and trade with their gold. And to me, it's food, water.

• 24:51Speaker 03

  Yeah.

• 24:51Speaker 04

  Firearms.

• 24:52Speaker 03

  Yeah. I've joked with people and this is not financial advice from a licensed financial advisor. Uh, but I've joked with people and said, you know, like if, if that's really why you're putting all this money into gold or gold coins or whatever, you should probably get bullets.

• 25:05Speaker 04

  Yeah.

• 25:05Speaker 03

  Whiskey and cigarettes, I think.

• 25:08Speaker 04

  And saline solution and contacts and.

• 25:10Speaker 03

  Yeah. And, and I, and actually, I'm not gonna judge, I'm not gonna.

• 25:13Speaker 04

  Toilet paper, yeah.

• 25:14Speaker 03

  And I'm not gonna judge anybody that, that wants to do some of that planning. And I wouldn't say necessarily for like apocalypse type thing, but more so just in the sense of like, you, you see how people act like if there's an earthquake or if there's anything. Like, I'm not against that prepping type mentality, but it's all just in perspective.

• 25:33Speaker 04

  Yep.

• 25:34Speaker 03

  The likelihood of what's gonna happen is none of the things that you think are gonna happen are ever gonna happen. And if you don't make some planning and do things right, uh, there's probably a high probability, you're not gonna have enough money to live the retirement and the, uh, later stages of life that you wanna live if you're not doing what you should be doing now. So, nothing wrong, I'm not judging anybody for prepping or wanting to have a little bit of gold or whatever.

• 25:54Speaker 04

  Yeah, we don't wanna upset any preppers out there.

• 25:58Speaker 04

  Come rolling in with the, the, the F350s and, and bulletproof doors and yelling at us. But a quick comment came in. Little clarification. The A's are playing in Sutter Health Park in Sacramento. That, that I would not. Sacramento for a ballgame. I'm a diehard A's fan since the Ricky Henderson days. My brother was a big Ricky Henderson fan. Hope G is doing well with recovery. Love you guys.

• 26:21Speaker 03

  Man, it's hard to not be an A's fan when you think about Ricky Henderson.

• 26:25Speaker 04

  The gold, the chains. I mean, you just own it, right?

• 26:28Speaker 03

  Yeah. Yeah. Have you ever heard stories too about Ricky Henderson, how he always talked in the third person? Like when he was talking, like when he was talking to somebody, he's like, Ricky don't like that, you know, like, and so like, they said it was just hilarious. But anyways, uh, so yeah.

• 26:41Speaker 04

  It's not a sports show, but when's the last time you went back and looked at some Bo Jackson highlights?

• 26:45Speaker 03

  Yeah, that guy's a monster.

• 26:46Speaker 04

  Unbelievable.

• 26:47Speaker 03

  Yeah.

• 26:48Speaker 04

  Unbelievable.

• 26:48Speaker 03

  Yeah.

• 26:49Speaker 04

  Anyway.

• 26:49Speaker 03

  Yeah. Yeah. So a lot, a lot of sports.

• 26:51Speaker 04

  I think, I think, uh, Jose Canseco, so.

• 26:54Speaker 03

  You think about him getting hit in the head and that homerun going over the fence off his head. You remember that? That was classic. That was awesome. But anyways, he can hit a ball a lot farther than I can, so probably still.

• 27:05Speaker 04

  Mm-hmm.

• 27:05Speaker 03

  Even in my peak, he can probably still hit a ball.

• 27:07Speaker 04

  No doubt.

• 27:08Speaker 03

  Yeah. So let's take a break. When we come back, we are gonna be joined with Ryan Malachi. Uh, he is here, uh, talking about his visionary of the year award. So we're looking forward to it.

• 27:20Speaker 04

  Are you curious to learn more about how you can be money wise? Check out the Money Wise website at MoneyWiseGuys.com to get more info.

• 27:39Speaker 03

  Welcome back.

• 27:42Speaker 03

  This is the Money Wise Show. We're gonna try to pull it together and have a wonderful segment highlighting some great local charitable focuses. So, um, yeah. So, uh, we're, we're gonna talk today about the Leukemia and Lymphoma Society, LLS Visionary of the Year Award, which, uh, we're joined by Ryan Meloche, right?

• 28:08Speaker 05

  Yes.

• 28:08Speaker 03

  Did I say it right?

• 28:09Speaker 05

  Ryan Meloche.

• 28:09Speaker 03

  Meloche, okay. Meloche.

• 28:11Speaker 05

  Meloche.

• 28:12Speaker 03

  Meloche. I think I said it wrong a few times, so my apologies.

• 28:14Speaker 05

  It's alright.

• 28:15Speaker 03

  But I'm glad to have you here and awesome to hear some of the stuff that you already got rolling. So why don't you talk a little bit about, you're just doing it this year. It's not like you're always working with this organization, but talk a little bit about the Visionary of the Year Award and what it is and what, do you know how long it's been going on here locally?

• 28:32Speaker 05

  I do not know how long it's been going on locally. Um, basically, you know, they nominated me to, to, um, as a candidate this year to raise money for the LLS Foundation. And I took it upon my, myself to, and my, you know, me and my wife said, yeah, we'd, we'd like to join it. And, uh, I'm a cancer survivor. So it's, it's, uh, definitely close to my heart. Lost my dad to cancer, lost my mother-in-law to cancer. So, wow. We wanna be out there and helping, you know, people with the, the disease. So.

• 29:03Speaker 03

  That's awesome. That's so cool. Uh, yeah. So, um, and, and I think you've had some friends that have been involved in the past and stuff and, and they, they tapped you on the shoulder and you were willing to take the call.

• 29:14Speaker 05

  Yes. Uh, George Masood and Nicola, uh, ran last year and they both tapped me on the shoulder this, this year to do it. They're like, hey, you gotta do it. You got a good story. And, um, so definitely that's what.

• 29:26Speaker 03

  So typically do they, do they do a male, female and you guys compete against each other? Does it matter?

• 29:30Speaker 05

  So there's 10 candidates right now running.

• 29:32Speaker 03

  10 candidates, okay.

• 29:33Speaker 05

  So I guess before they used to do a man of the year and a woman of the year.

• 29:36Speaker 03

  Okay.

• 29:37Speaker 05

  But they, now they've joined together and now it's just a visionary of the year.

• 29:40Speaker 03

  Gotcha.

• 29:41Speaker 05

  So.

• 29:41Speaker 03

  Gotcha. And then there's a Couple of honored heroes that kind of get the focus on just yours or is it for everybody?

• 29:47Speaker 05

  That's for everybody. That's just to show that that's what LLS, those are the, this is where the money is going to support, you know, kids like this and, and families like this. Uh, this is where the money's and it's, I think, I believe the money that we raise in Bakersfield stays in Bakersfield.

• 30:02Speaker 03

  Yeah.

• 30:02Speaker 04

  That's huge, man.

• 30:03Speaker 03

  Yeah. Which is cool. The LLS, uh, the Leukemia and Lymphoma Society, if, you know, just, just looking at some of the materials, just so folks know that since 1949 have invested more than 1.6 billion, uh, in most pioneering sciences, uh, for these types of cancer treatments. Uh, they lead the, leading source for education and support for blood cancer patients and families. Um, and obviously trying to, uh, to be, uh, advocates, um, for anybody struggling with this. So this is a 10 week process?

• 30:35Speaker 05

  Yes, it is.

• 30:36Speaker 03

  That you go through this and you, you guys have started already?

• 30:38Speaker 05

  We did. We started, uh, January 29th, I believe is when we started and then we finished April 11th.

• 30:45Speaker 03

  Yep. And so I've already seen your, uh, your name and some of the stuff out there and, uh, Dustin and I i- i- in the office, I forget how we even got, oh, I remember how we got invited to it because Dustin lives next door to, uh, the whiskey, the namesake of the whiskey. So the family.

• 31:00Speaker 05

  Oh, the Frey family.

• 31:01Speaker 03

  Yeah, the Frey family. So, so he's like, hey, the Freys, you know, you know, I told you they're making that whiskey. They're going to do like a spotlight of it at, uh, Saunders we were at, you know? And so I saw your picture there and that's why when you came in, I'm like, oh, that was for, that was for you. And then, uh, so you have another couple of events coming up?

• 31:16Speaker 05

  We do. We have our golf tournament coming up, uh, March 31st. Um, we have a few teams available. If anybody's wanting to sponsor, it's a thousand dollars a team. Um, and all the proceeds are going to LLS.

• 31:28Speaker 03

  Yep. And all that's going to be up at, uh, BCC?

• 31:31Speaker 05

  It is going to be at BCC.

• 31:32Speaker 03

  Awesome. And so, um, if anybody wants to find out more information about that, is there like a website that highlights this year's competition? Or it's more so just get ahold of somebody?

• 31:43Speaker 05

  Um, I believe that you just have to get ahold of me or somebody on my team.

• 31:47Speaker 03

  Yeah, that's how you support it.

• 31:48Speaker 04

  Yeah, it looks like you can become a sponsor right there on the page and just as a, to tie in a little bit of, uh, financial advice. A lot of times guys, listeners out there, your companies, they have money. They have a budget of money to give away throughout the year for events like this. And oftentimes those dollars don't get spent. So it never hurts. Go ask your boss. Say, hey, you know, I'm, I'm wanting to put a golf team together. Just something we can, we can sponsor here.

• 32:10Speaker 05

  Yes. And if they can't make the ball team and they want to still sponsor, you can go to the website and click become a sponsor and it's 100% tax deductible. So.

• 32:20Speaker 04

  I see an old friend's name on here, Russell Enos. It looks like he may be someone who's contributed along the way, but that's interesting. Are you filling up to talking about your own battle? It looked like it started in COVID?

• 32:36Speaker 05

  It did. It started in COVID and you know, I was diagnosed with throat cancer. It was a fluke thing how I found it. I went to an E and T doctor. Thought I was having ear problems and it ended up being a tumor in my lymph node that was blocking my eardrums. And then so. But the doctors in UCLA and the doctors here at CBCC did a phenomenal job, got me in and put me through a chemo and radiation regimen. And you know, for like nine months and then and we came out clean. So.

• 33:14Speaker 03

  Yeah. And so if you do want to get involved or find out any more information about some of the upcoming events and stuff, you can go, you have a website for them. Right? WWW dot Ryan.

• 33:25Speaker 05

  Yes.

• 33:26Speaker 03

  Meloche?

• 33:27Speaker 05

  I said. Malash.

• 33:28Speaker 03

  Malash. Geez. Dot org. So, and we'll have that link on our website and on the podcast and stuff. So you can always find that information. So. Well, good deal. It's awesome to see what you're doing. I know you're already going out there and doing a really good job. I think you got a head start. And so, uh. Do you know what, uh, what the goal is that you're trying to hit this year?

• 33:49Speaker 05

  We're trying, our goal as a team is a hundred thousand dollars for my team.

• 33:53Speaker 03

  Yeah.

• 33:53Speaker 05

  So that's what our goal is.

• 33:54Speaker 03

  And so there's 10 teams though now?

• 33:56Speaker 05

  There's 10 teams.

• 33:57Speaker 03

  Wow. So, uh, do you know what the numbers were last year total raised?

• 34:01Speaker 05

  I do not know the numbers total raised.

• 34:03Speaker 03

  Cool.

• 34:04Speaker 04

  Now, you may have gone over this, but is it a competition, the true visionary is who raises the most money?

• 34:08Speaker 05

  Yes. That is. So at the April 11th, at the finale, it, nobody knows who's doing what yet. And so until the finale, and so at the finale. You find out who raised the most. And then gets the crown of

• 34:22Speaker 04

  You gotta get your bigger checks, right? And pocket them. Well, not pocket them, but

• 34:26Speaker 05

  Not pocket them, but yeah.

• 34:27Speaker 04

  And you send them in last minute.

• 34:28Speaker 05

  And you send them in last minute.

• 34:29Speaker 03

  Yeah, I do not claim this guy over here that just told him.

• 34:32Speaker 05

  When we did Relay for Life.

• 34:34Speaker 03

  Do not pocket donors' money.

• 34:35Speaker 05

  That's not what I meant, Chris.

• 34:37Speaker 04

  Well, we did Relay for Life. We would, you know, we would keep like some of our larger ones to kind of put in the hopper, you know? And so we would, we would hop up. But yeah, our, our company was affected by somebody that had cancer. And it's, it's crazy when you say, the general audience of people, raise your hand if you or your family members, direct family members that have been affected by cancer every single time.

• 34:57Speaker 05

  Everybody raises their hands every time.

• 35:00Speaker 03

  Yeah, well, it's true.

• 35:00Speaker 05

  I get chills just talking about it just because, you know, I've been through it. I lost my dad to it at a young age. He was only 48 years old and he lost his life to leukemia.

• 35:10Speaker 04

  Yeah. You're looking pretty healthy, dude. Big guns. You got the...

• 35:14Speaker 03

  Yeah. Yeah, you just think he's great looking because you guys, all three over here that I'm looking at have the same beautiful haircut.

• 35:20Speaker 04

  Just saying.

• 35:21Speaker 03

  Yeah. Here I am over here doing my hair and wearing like an idiot.

• 35:24Speaker 04

  So that's Chris's way of flexing his full head of hair, his nice thick beard. I mean, come on, KP.

• 35:30Speaker 03

  Oh, yeah, yeah. I love it when I get compliments about my beard because it's like, I did nothing at all to it, at all, ever to like...

• 35:39Speaker 04

  I feel guilty sometimes. Like, I don't, mine's not as thick and full as yours, but you do feel a little guilty. It's, oh, nice beard. And there's this all patchy.

• 35:46Speaker 03

  Yeah. And I shared recently a funny story where there were, you know, sometimes we'll go to these advisor conferences or you go to, you know, listen to people that talk about finance and the economy and this different stuff. And they'll have a guest speaker. And the guest speaker this year was like, one of the guys that was a Navy SEAL, like, he was like the top dog that was like overall some of the biggest, and this was back in like probably Desert Storm time, but still an absolute stud, you know, been in the White House, like very, very high level ranking guy. And so I see him in the hallway walking off and I go, hey, thanks for coming and sharing with us, you know? And he stopped in his tracks and looked at me and he goes, that's the best beard I've ever seen. And I'm like, Uh, thank you. He's like, he goes, you know, like in Iraq, man, if you have a better beard,

• 36:28Speaker 03

  you're like, you move up the food chain. He's like, you'd be powerful over there. I'm like, oh, thanks.

• 36:32Speaker 04

  So not only is he gonna bust us down for our baldness, he's gonna say, hey, by the way, this Navy SEAL, this super stud complimented him.

• 36:39Speaker 03

  It was just so awkward. You're like, uh, thanks, I guess. I think that's weird, but, but yeah, so yeah, sorry to go off on a tangent about hair, but, uh, but honestly, what you're doing is so, so encouraging. It's so cool each year to watch people set out with a goal and it's, I'm sure it's stressful. I'm sure you're busy with life and everything else, um, you know, but I hope this just continues to help you in your recovery and moving forward and your story, getting to share your story. Cause like, like we just mentioned, so many people are impacted by it and it's making a real impact, uh, especially here locally. Uh, so these are local, uh, people too. The, yeah, the local heroes.

• 37:17Speaker 05

  The circle of heroes are local children.

• 37:20Speaker 03

  Yeah. Anastasia and Eric. So if you want to find out more about them, you can probably go to the LLS website and start doing a little research there. And it's just very, very cool. So I wish you nothing but luck in the golf tournament.

• 37:31Speaker 04

  I was gonna ask too, if somebody, uh, is battling, they just found out, you know, they, they haven't even told everyone yet. What's your, what's your wisdom? What's your piece of advice you'd give them? Because man, you made it.

• 37:43Speaker 05

  Uh, the biggest piece of advice is stay positive. Do the whole, do the whole thing. Don't let the depression get you down. Um, because when I was going through it, I saw a lot of people, you know, you go to the cancer, uh, center and you're getting chemo, you're getting radiation. You see a lot of people in and out of there and you see people get down and depressed. And I would say the biggest thing is stay active and stay, you know, positive through the whole, through the whole journey. Cause it's a, it's a tough journey. It's not hard. I mean, it's not easy. It's a tough journey, but you still gotta stay, keep positive mindset the whole time.

• 38:19Speaker 03

  Yeah. And having a, having a, a group around you to support you and stuff. And so that's what's neat about what you're doing is you're creating an atmosphere where more people are exposed to this, to know about this, to hear these different stories, uh, and to know that resources are out And even, you know, in circumstances, not everybody gets the, the, you know, the, the happy story, the happy ending, or at least the moving forward. Um, so to create a culture where we're all out there loving on one another, raising money to try to help with, um, research, uh, and supporting one another and especially local. Obviously it's, it affects everybody in the country and the world for that matter, but, uh, it's nice to have that local feel. I mean, Kern County, Bakersfield is one of the best places to live in my opinion. And so thanks for what you're doing to create

• 39:02Speaker 03

  that culture where we can love and care on each other and, uh, and hopefully make a difference on some of that cancer research. I mean, I hope we have some breakthroughs.

• 39:09Speaker 04

  Absolutely. Thanks.

• 39:10Speaker 03

  Yeah. Awesome. All right. We'll stick around. We have one more segment to close out with. We'll be right back.

• 39:15Speaker 00

  Are you an employee with a company sponsored retirement plan? Do you fully understand how you're invested and whether or not you are maximizing your retirement plans options? For more information on a free assessment, contact MoneyWise's 401k specialist, Justin Leland at 661-847-1000. That's 661-847-1000.

• 39:40Speaker 03

  All right. Welcome back. Let's, uh, let's close out today's show on a good note. Um, thank you for making the Money Wise show what it is. Again, uh, if you like to listen on a little bit shorter, uh, take a few of the things out, listen at your leisure. Always go to MoneyWiseGuys.com where we are streaming at your favorite place. You can find it there. We always try to put, uh, some of the details and data of our shows on there as well. So anything we talk about, you can find information about that, like his website. Um, going over LLS fundraising and cancer's effect on people's lives. And it's, it is cool to just have a culture where, I mean, 10 teams out there raising funds and you might have one that does a lot less than 80 if that's your goal, but everybody working

• 40:24Speaker 03

  together and just kind of getting the word out there. Um, it's gotta be encouraging.

• 40:28Speaker 04

  All that hard work too, it, it goes very think, think, thinkless, thinkless work. And then, but that's why humans, that's why we are living longer every year is stuff like this. A $10 donation to help this guy out. $50 donation, right? Uh, ultimately it helps everyone live longer. So.

• 40:44Speaker 03

  There you go.

• 40:45Speaker 04

  We had a question I was gonna read and then Chris is gonna talk about it here real quick, but, uh, somebody at Caitlin, uh, texted into the show and said, can you guys explain what a pour over will is and when it should be used? Thank you so much for your time and the information.

• 41:03Speaker 03

  So a pour-over will is, it's basically, and again, I'm going to preface this with, we're not estate planning attorneys. And I would definitely say, do your planning with an estate planning attorney. But for kind of just basic instructions or description of what a pour-over will is, it's basically when you're, it's a legal document that pours over any of your assets that you didn't transfer into your living trust during your lifetime. It goes into your trust upon death. And so it's almost kind of like a, I don't know. It's like if you picture like the oops, we forgot to put this in our trust thing.

• 41:43Speaker 03

  I basically think that it's kind of like, it would be common sense that you would have put this account in your trust, had you had the time and had you not passed away, kind of a thing. And so many of your assets, if you didn't put them in there, it's just like, hey, anything else that's out there that I forgot about, it's going to go into my trust. Now that could be tax inefficient, because it could be a retirement account, that all the money has to come out and be taxed and go into your trust. So that's why we definitely say, you know, talk to an estate planning attorney. And then also your financial advisor should have some advice on how to structure things. But it's better than that money not going to where it was supposed to go, if that makes sense. You know, hopefully that's not too much info over the radio airwaves.

• 42:27Speaker 03

  But yes, a pour-over will is basically, hey, anything that was not in my, so that would still have to go through probate, because it's a will.

• 42:36Speaker 04

  I think they're mostly attached to trusts. Like you have a regular, a regular will, and then a pour-over, I think, is usually used in conjunction with a trust, that it pours over any of the other assets not named.

• 42:46Speaker 03

  So again, why, I'm not an estate planning attorney, so I don't know the nuts and bolts. But it would be my thought that when it's a pour-over will, it would still go through probate. And then it would say that your money goes into your trust. And I'm not sure.

• 43:00Speaker 04

  And it covers assets too.

• 43:03Speaker 04

  I would probably name anything over maybe $200 or $300, some old guns, firearms, ammunition, tools, I'm just thinking of my garage dirt bike, things that you might forget. You know, this is, this is what that covers, those types of things. So it goes into the person's hands that you want it to.

• 43:18Speaker 03

  Yeah, this is when I could, I wish we could, what do you, phone a friend? What's the, what's the game show? The landline? So

• 43:27Speaker 04

  Who wants to be a millionaire? Who wants to be a millionaire? Phone a friend? Phone an attorney?

• 43:32Speaker 03

  Yeah, cuz honestly, I mean, so like the fact that it's called a will. Yeah, yeah, yeah. I'm, I mean, again, not an estate planning attorney, but I'm pretty sure. So basically, it means that if there's a couple of accounts that you forgot about, you are no longer on earth with us. It will go through probate, but the difference is, is that it will be swept into your trust. If that makes sense.

• 43:58Speaker 04

  I stand corrected from a little bit more hunting and pecking. KP, you are absolutely correct. They usually will need to go through probate.

• 44:04Speaker 03

  Yeah, but obviously, having it funded correctly, which is a fancy sounding word, funded correctly. All that means is that all your accounts that need to be in the name of the trust are in the name of the trust. You literally, if you have an investment account and it's a joint account, you want to change it into the name of the trust. And then if you have, um, you know, retirement accounts, those are different. So again, talk to a estate and planning attorney, talk to your financial advisor. If you're not getting some of these discussions or questions answered, obviously, we'd love to talk to you here at Money Wise, 661-847-1000.

• 44:34Speaker 04

  And we have a lot of, a lot of blended families that come in and we help, you know, that's even more reason to go in and see a professional, a little bit of time, a little bit of money spent on the front end can make sure that everything is smooth on your passing.

• 44:46Speaker 03

  There you go. So a poor of a will does not avoid, uh, does not avoid probate, um, but it does help you put everything where it needs to go regardless. It's a little peace of mind. Nothing gets let out, left out of your trust, even if it ends up having to go through probate, um, which is not the goal, but if it does happen, you're taken care of. So, yeah, thanks for that great question. Thanks for the great show and some of your guys' involvement. You guys are what make the Money Wise show great and hopefully, all of us together, day by day.

• 45:13Speaker 04

  Do we have winners? Where we will announce the winners?

• 45:15Speaker 03

  Yeah.

• 45:16Speaker 04

  We have Nancy is our winner.

• 45:18Speaker 03

  All right, Nancy, there you go.

• 45:19Speaker 04

  Let's go.

• 45:20Speaker 03

  Make it happen, then you can come on the show and let us know how it went. So, all right, is that a plan, Stephen? All right, guys, thanks for making Money Wise what it is, and most importantly, be smart, be safe, be money wise.