Pod Insights The Moneywise Guys 7/1/25 Big Numbers, Bigger Impact: Senate Tax Cuts, the Billion vs. Trillion Reality Check, and America's Debt Problem About this episode The Moneywise Radio Show and Podcast Tuesday, July 1st 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_Management LinkedIn: Moneywise_Wealth_Management
Transcript 0:00 Speaker 00 From the Garo Ellis padded radio room off Stockdale Highway, here is Money Wise.
0:05 Speaker 01 Call or text into the show 24/7 at 396-1000.
0:39 Speaker 00 Here is Money Wise.
0:40 Speaker 01 Money, money, money, money.
0:44 Speaker 00 Welcome to the Money Wise Show. We are live from the Garo Ellis padded radio room of Stockdale Highway on ESPN Bakersfield, 1230 a.m., 101.1 FM, and always streaming at MoneyWiseGuys.com. You can call or text into the show 24 hours a day at 661-396-1000, 661-396-1000. Today, we are your hosts, Sammy Abiyawie and
1:07 Speaker 02 Justin Leland.
1:08 Speaker 00 Justin Leland. It's been a while since we
1:11 Speaker 02 I've never sat on this side of the desk from you on the show.
1:14 Speaker 00 Hey, get used to it.
1:21 Speaker 00 No, this is exciting for me, actually.
1:23 Speaker 02 It's a good one.
1:24 Speaker 00 To lead the show with you, a veteran on the other side.
1:28 Speaker 02 Hey, got two vets in here.
1:30 Speaker 00 So I'm very excited. We've got a bunch of stuff to talk about.
1:33 Speaker 02 That's okay. I'm grading you over here.
1:35 Speaker 00 Yes, please, please do.
1:36 Speaker 02 Checklist over here.
1:37 Speaker 00 I don't think it's going to be as hard as my son, though. When I give him the things to listen to, he just hammers me.
1:43 Speaker 02 Do you ever listen to yourself on the
1:44 Speaker 00 Oh, yeah, I do. I do. I'm very, I critique myself, but not as hard as my son. I thought I was very hard on myself, but my kid is just blunt.
1:52 Speaker 02 Kids, kids can be pretty brutal.
1:55 Speaker 01 Well, wait until you have your wife on tomorrow. See how that goes.
2:01 Speaker 02 Somebody's in the doghouse.
2:02 Speaker 00 She she listened to a show I was doing with Sherrod and said Sherrod is a very knowledgeable man. I'm like, oh, yeah, yeah. Oh, yeah. All right. Good for you. Let him lead the show tomorrow. I know. I know. Sherrod, brother Sherrod.
2:15 Speaker 02 Sherrod.
2:17 Speaker 00 What's what's what's up? What's going on with the market, Justin?
2:19 Speaker 02 You know what? Mixed day today. Couple of things going on. I don't know if you noticed in the news, but the Senate finally passed the the big, I don't know what you want to call it, bill.
2:29 Speaker 00 Huge, beautiful bill.
2:30 Speaker 02 Huge, big, beautiful bill.
2:31 Speaker 00 That's right.
2:33 Speaker 02 Don't know how beautiful it is.
2:35 Speaker 01 That was that was good.
2:36 Speaker 00 That was good, right?
2:37 Speaker 01 Yeah.
2:38 Speaker 00 It was a good impression. Yeah. I'm hoping I can get picked.
2:41 Speaker 02 Yeah.
2:41 Speaker 00 And, you know, and maybe get invited by the president just to do that in front of him.
2:45 Speaker 02 Yeah, you look just like him.
2:50 Speaker 00 I'm the brown version of Trump.
2:52 Speaker 01 Don't get him started. Halloween's coming up.
2:54 Speaker 02 Oh, boy.
2:56 Speaker 02 Mixed market on the markets today. Actually, markets were actually in in pretty good territory most of the day, but then when the when the bill got passed in the last hour of the trading, markets kind of took a little bit of a turn down. So the Dow ended up for the day by about a percent. S and P was relatively flat, down by 0.1%. NASDAQ was down by about 8 tenths of a percent. And that's a good, you know, I guess what we would say in the the beginning of the second half of the year is a bit of a rotation out of the kind of mega cap technology names into more of a broader market rally going back into some of the more cyclical names.
3:40 Speaker 02 So you're getting rid of some of the tech stuff and going back into more cyclicals. So that's kind of what's going on in the markets today. It was just kind of a kind of a weird day after the that bill got passed and we're still looking at Federal Reserve Chair Jerome Powell. What are they going to do? He got near a microphone today and said, yeah, we're still going meeting by meeting. We don't know what we're going to do. And we're not going to show our cards too early, right? And it still is that the Fed is going to be data dependent. They don't. Don't know what the, um, uh, you know, inflation numbers are going to look like, uh, for the month of June. Uh, those numbers will be coming out later on, uh, later this week. Um, and then the, uh, the jobless numbers, uh, for the month of June.
4:26 Speaker 02 So we'll need to see those numbers and what they look like. And then they'll be able to make a determination on whether or not they lower interest rates.
4:33 Speaker 00 When is their next meeting?
4:35 Speaker 02 Uh, end of, end of July.
4:36 Speaker 00 End of July?
4:37 Speaker 02 Yeah.
4:37 Speaker 00 Well, uh, watch and see, I think is that policy is, uh, instituted or he's following right now. So it's.
4:44 Speaker 02 It's a wait and see.
4:44 Speaker 00 We're gonna watch and see.
4:46 Speaker 02 We're gonna watch and see.
4:47 Speaker 00 In the meantime, I think he's been stress testing the large banks in the U.S.
4:51 Speaker 02 They have been doing that.
4:52 Speaker 00 Twenty-two of the largest banks in the U.S. have been stressed or stress tested and they all passed.
4:58 Speaker 02 Which is a good thing.
4:59 Speaker 00 It's a huge thing for us. Because stability of the financial market, especially the banking industry is essential to our economy and how we conduct business. So it's great news.
5:08 Speaker 02 So what, what goes into the actual stress testing? I've always kind of wondered this about the stress testing of banks. Like, do they just walk in and like, you know, hands up, I'm robbing the bank, kind of a stress test?
5:19 Speaker 00 No, no, it's very stressful for the banker.
5:21 Speaker 02 Okay.
5:22 Speaker 00 Like, um, if I, if I'm the receiving, on the receiving end of the exam, it's very stressful. Because now, what, what you do is you take deposits, people's deposits, and you lend them.
5:33 Speaker 02 Right.
5:33 Speaker 00 So.
5:34 Speaker 02 Usually it's what, seven or 10 to one?
5:36 Speaker 00 And the regulators want to come in and make sure that these deposits that you're lending are sound. Your practices are sound, they, so they compare your policy to the reserves you have, to the rating of these loans and make it, to make sure that you have adequate both capital.
5:51 Speaker 02 Liquidity.
5:51 Speaker 00 Liquidity and all that to make sure that in case something happens. And in this case, what they stressed for is an employment rate hitting like 10%.
6:00 Speaker 02 Ooh, which is like more than double where we're at right now.
6:03 Speaker 00 What happens then?
6:04 Speaker 02 Yeah.
6:04 Speaker 00 Right? Or capital requirements, what happens? So the fact that they've passed is good for us. If you remember, uh, maybe we did not have these sound practices back in 2008. And that's the reason why we had that huge debacle.
6:20 Speaker 02 Yeah.
6:20 Speaker 00 Called 2008 financial crisis.
6:22 Speaker 02 Mm-hmm, the global financial crisis.
6:24 Speaker 00 That's right.
6:24 Speaker 02 Yeah.
6:25 Speaker 00 So the fact that these banks are sound is music to my ear as an ex-banker. It's really, really good.
6:31 Speaker 02 Now. Multiple different things that they tested for, right? It wasn't just like, hey, we're looking at unemployment. They they stress test for a multitude of different things, right?
6:40 Speaker 00 Correct, correct. Like I said, I mean, part of it is just unemployment. They look at your deposit to loan ratio.
6:48 Speaker 02 Okay.
6:49 Speaker 00 Is that adequate?
6:50 Speaker 02 Okay.
6:51 Speaker 00 They look at your deposit composition. How much, you know, interest-bearing accounts versus non-interest-bearing accounts? They look at your efficiency ratios. There's a bunch of stuff that they look at in order for you to just pass the exam. The main thing for them is to look at the loan policy and make sure that the loans you're making are following that policy.
7:11 Speaker 02 So that's why you left banking, because all the loans you made were probably a little bit.
7:15 Speaker 00 I've never lost a loan in my 25-year career. Never. A $50,000 loan potentially.
7:22 Speaker 02 Yeah.
7:22 Speaker 00 Couple of mistakes here and there. I would probably say three.
7:26 Speaker 02 Three?
7:26 Speaker 00 And and two of them were not good borrowers.
7:31 Speaker 02 Yeah.
7:31 Speaker 00 They they they gamed the system.
7:34 Speaker 02 Yeah.
7:35 Speaker 00 And so, no, I did good in my banking career.
7:38 Speaker 02 No, yeah. And so, you know, it's. I always wonder about that, because when when you're going in for like a signature loan or you're you're going in for.
7:47 Speaker 00 You lost me there. We didn't do those.
7:49 Speaker 02 Any no signature loans? Any any kind of business loan or anything like that, you know, all the collateral and all the information that you have to go in in with as a lender or as the as the borrower.
8:03 Speaker 02 I'm always kind of like, well.
8:05 Speaker 00 So here's what here's what lenders, a lot of the, a good lender, I'm gonna, I'm gonna. A good lender does not just look at the collateral. The collateral is the last thing you want to look at as a lender. What you want to look at first is character. That this person, do you believe this person has the ability to pay you back? Regardless of whatever happens to their business, economy, or financial situation.
8:26 Speaker 02 So that's why I don't get the loans.
8:28 Speaker 00 Yeah, yeah, you have it written on your face, Justin. No loans.
8:32 Speaker 02 No loans for this guy.
8:33 Speaker 00 No loans for this guy. No, no. It's just character has a big, big weight in the lending equation. How do you assess character? And when you look at the credit history, you look at the name in the industry and in Bakersfield, we're a big town, but we're also a small town. Your reputation matters. And if you, if you, if you played a couple of banks or if you did not pay your bills.
8:55 Speaker 02 Your name is gonna get around.
8:56 Speaker 00 That's right. That's right. And it's, it's gonna be known and, and the decision is gonna be, hey, uh, you're not gonna receive a loan.
9:04 Speaker 02 Yeah. So pay your bills.
9:05 Speaker 00 Pay your bills. Pay your bills. We, uh, we have a couple more questions. One of them actually is a follow up from, uh, yesterday, but before then, there's a couple of birthdays and this one is very important to me. Missy Elliott's birthday is today, Steve.
9:17 Speaker 02 Fifty-four years old.
9:18 Speaker 00 Fifty-four. Missy Elliott, man.
9:20 Speaker 01 What's more important is Pamela Anderson's birthday.
9:23 Speaker 00 I didn't want, I didn't want to say that.
9:24 Speaker 02 The Baywatch babe?
9:25 Speaker 00 Yeah. I didn't want to say that. Also.
9:27 Speaker 01 That was my first love.
9:27 Speaker 00 Princess Diana.
9:29 Speaker 01 Yes.
9:29 Speaker 00 Princess Diana was.
9:30 Speaker 02 The late, great Princess Di.
9:32 Speaker 00 That's right. But, but me, I was just looking at Missy Elliott and the songs and the things that she's done in early two thousands and late nine.
9:39 Speaker 02 Liv Tyler? Wow.
9:42 Speaker 01 You knew Liv Tyler is?
9:43 Speaker 02 Yeah. Liv Tyler, uh, Steven Tyler's daughter and, uh, Er- Erwin from, uh, the Lord of the Rings trilogy, right?
9:49 Speaker 01 Is it really?
9:50 Speaker 02 Yeah.
9:51 Speaker 01 I always think of Armageddon.
9:52 Speaker 00 I always did not know you were a nerd, but.
9:55 Speaker 02 I am totally a nerd. Yeah, I'm a, you know, I actually have a T-shirt that says nerd squared.
10:00 Speaker 00 Seriously?
10:00 Speaker 02 Yes.
10:01 Speaker 00 No, the, I mean, I, I, I liked Lord of the Rings, but I, I did not know the.
10:06 Speaker 02 Yeah.
10:06 Speaker 01 He's our Sheldon.
10:08 Speaker 02 Yeah.
10:08 Speaker 00 Yeah.
10:09 Speaker 01 He's our Sheldon in the office.
10:10 Speaker 02 Mm-hmm.
10:11 Speaker 00 Huh. That's cool.
10:13 Speaker 02 Yeah.
10:13 Speaker 00 Well, happy birthday to all these ladies.
10:15 Speaker 01 I don't know what cool.
10:18 Speaker 01 I don't know about that.
10:20 Speaker 02 Hey, happy Ba- Bobby Bonilla Day.
10:21 Speaker 01 Yes, Bobby Bonilla Day.
10:23 Speaker 02 Happy Bobby Bonilla Day. He still gets that for another, what? Nine more years?
10:28 Speaker 01 I believe so. In the thirties, right?
10:30 Speaker 02 Twenty thirty-five, I think, is his last payment.
10:32 Speaker 01 Turns into the Otani Day, right?
10:33 Speaker 02 Yes, then it'll be Otani Day.
10:35 Speaker 00 So we have this question. We heard the solar guy you had on that. Uh, the payback period for solar has changed dramatically under NEM three point O. Can you explain what that means in plain terms for someone who installed solar just a year ago versus someone doing it now?
10:53 Speaker 02 Great question.
10:54 Speaker 00 Well, I have a little bit of expertise in this because I sat with on the board of a solar company for a little while. And NEM 3 versus NEM 2. Here's differences.
11:06 Speaker 02 Yeah.
11:06 Speaker 00 So under NEM 2, you actually have a true up, a true true up at the end of the year. Basically, you're selling the extra energy you don't use back to the grid and they give you credit for that.
11:19 Speaker 02 Right. You don't get a check at the end of the year, right?
11:21 Speaker 00 No, that's under NEM 1.
11:23 Speaker 02 NEM 1, you'd get a check. NEM 2, you don't get a check, but at least you get some kind of credit.
11:27 Speaker 00 That's right.
11:28 Speaker 02 Right.
11:28 Speaker 00 So you get, you get a credit that you can apply towards your extra uses.
11:32 Speaker 02 Future usage, yeah.
11:32 Speaker 00 Or what? NEM 3, that went away. Why? Utility companies claim that because there's so much solar dumping electricity on the grid.
11:45 Speaker 02 Oh, boo hoo.
11:46 Speaker 00 Exactly. We don't know how to manage that. These people that are selling all this, they don't pay the same rates as the people that are actually paying to maintain all this grid. So they came up with NEM 3. Requiring the homeowners to have some type of storage instead of dumping the extra electricity onto the grid.
12:08 Speaker 02 So they have to have batteries now?
12:09 Speaker 00 That's right, which increases the, the, the cost of your investment in the solar being put on your roof.
12:17 Speaker 02 Yeah, I'll quite buy quite a bit.
12:19 Speaker 00 So, so he's asking, what's the difference between now and a year ago? There is no difference between now and a year ago. The NEM 3 started in January 1st, 2024.
12:31 Speaker 02 That's right.
12:32 Speaker 00 Okay, so if you did solar June of last year, it's the same as solar today.
12:36 Speaker 02 Right.
12:37 Speaker 00 Exactly what I did. I had to put three batteries or two batteries and I added the third just in case because of the size of the family I have. So there's, the, the main difference is the rate you're selling.
12:51 Speaker 00 To PG&E.
12:52 Speaker 02 It's changed.
12:53 Speaker 00 It's changed dramatically. So I think it's in the like nine cents a kilowatt. Versus what you pay PG&E, it's in the twenty-two to twenty-nine cents per kilowatt based depending on the time of the day you're using electricity. And that's to me, the major difference. It's how long it's going to take you to recoup your investment. Now, instead of nine and a half years on average, it's going to increase about fifteen years.
13:19 Speaker 02 Fifteen, sixteen years.
13:20 Speaker 00 Depending again on the size of the investment you're going to make.
13:22 Speaker 02 Yeah.
13:23 Speaker 00 That's to me, the major thing. And also, you're not getting a true true up at the end of the year. You're not getting back anything.
13:31 Speaker 02 Well, then also you have to take into account the, the increase in PG&E. Like, so on my house, I have a complete one hundred percent offset. I don't pay PG&E other than about eleven dollars a month just to be on the grid. Right? All of my electricity is offset.
13:52 Speaker 02 But
13:54 Speaker 02 so, so with that one hundred percent offset, I don't, I don't pay anything for it. But I also know that if I didn't have that solar, when I installed it like eight, ten years ago, I would have been paying about three hundred and fifty to four hundred dollars a month on average for my electricity. Today, I'd be paying closer to eight hundred dollars a month.
14:13 Speaker 00 Yes, because?
14:14 Speaker 02 Because PG&E has increased their rates every single year. It's like you said, I think it was in the last two years, it's gone up about.
14:20 Speaker 00 Join half years, forty percent.
14:22 Speaker 02 Forty percent.
14:22 Speaker 00 David, the, the guy from Castro, Castro yesterday said forty percent in the last two and a half years.
14:28 Speaker 02 With.
14:28 Speaker 00 It's insane. An expected increase in the next, next four years to come. They're not slowing down.
14:34 Speaker 02 Right.
14:35 Speaker 00 Cost of electricity is not going down. That doesn't make sense to me because we're dumping so much electricity on the grid. One might, might think that, hey, with all this electricity coming from these rooftops.
14:43 Speaker 02 Yeah.
14:44 Speaker 00 Why don't you just sell it to people that don't have electricity? But I guess.
14:48 Speaker 02 Supply and demand.
14:49 Speaker 00 Yeah.
14:49 Speaker 02 Yeah. You could see the opposite.
14:51 Speaker 00 Because they can.
14:51 Speaker 02 Yeah, because they can.
14:53 Speaker 00 Only game in town.
14:55 Speaker 00 Have you heard about that, say?
14:57 Speaker 02 Yeah.
14:57 Speaker 00 The only game in town, Justin.
14:58 Speaker 02 It's called a monopoly.
15:00 Speaker 00 We'll take our first break. When we come back, there's more to come.
15:03 Speaker 01 Need to get your financial fix on the go? If so, subscribe to the Money Wise Podcast and catch up on all past shows whenever.
15:12 Speaker 00 Let me work it.
15:17 Speaker 00 The great Missy Elliott. Happy birthday.
15:20 Speaker 03 I'm so glad I can't see Justin's face right now.
15:26 Speaker 03 It's gotta look like mine.
15:29 Speaker 00 You guys don't can't believe that I listen to this stuff, huh?
15:33 Speaker 03 I can't believe anyone does.
15:38 Speaker 00 We're back. The Money Wise Show. I'm Sammy Abiyawu with Justin Leland. Justin, we have a question. I think you might be able to answer this one.
15:46 Speaker 02 This ought to be a fun one here. So this one sound might sound a little odd. My dad passed away. Sorry to hear that. Last month at 78. He worked with an aircraft company in Wasco and later drove trucks until he retired. He'd been getting social security, but I'm not sure exactly what. Someone mentioned earlier about survivor benefits. I'm 55 and still working. Is there anything I should be looking into or doing? I'm not sure where to start. Okay, so I think what maybe you're asking here is would you be able to get survivor benefits on your father's benefits? The short answer to that is no. The survivor's benefits are only for your spouse.
16:32 Speaker 02 Or for minor children. You're not a minor if you're 55, last I checked.
16:40 Speaker 02 So yeah, you would not be able to get survivor's benefits for that, unfortunately.
16:46 Speaker 00 Yeah, thanks for that answer, Justin. Keep if you have a follow up question.
16:51 Speaker 02 Yeah.
16:52 Speaker 00 Please, please send it back and we'll if we have time, we'll take a look at it.
16:56 Speaker 02 We just got another one popped right up here. So so we pay a small true up payment with our solar, but we still way cheaper than we were paying to PG&E. But not sure if we're a two or a three, but thank you for covering my question.
17:08 Speaker 03 Yeah, I was the original person.
17:10 Speaker 02 That was it.
17:10 Speaker 00 All right. Good work. Um, Justin, we talked about the bill early in the show.
17:16 Speaker 02 Yeah.
17:17 Speaker 00 But, but you mentioned a number that just caught my attention.
17:21 Speaker 02 Yeah.
17:21 Speaker 00 The bill is gonna add how much to the deficit?
17:24 Speaker 02 So, there's a couple of different, uh, numbers. Uh, CBO, the Congressional Budget Office, said I think it was like 2.6 trillion. There's other, uh, numbers floating around upwards of 3.3 trillion. Um, yeah, there's, over the next 10 years, the Senate, the bill that was just passed by the Senate, which, mind you, it still is not gonna go to the President's desk. It still has to go through what's known as reconciliation. Uh, the House passed their version of the bill. The Senate has now passed their version of the bill. It now has to go to conference and go through reconciliation to basically, you know, hammer out the differences, right?
18:05 Speaker 00 I see.
18:06 Speaker 02 Um, before it then goes for another vote and then goes to the President's desk. So, how much is 3.3 trillion dollars?
18:17 Speaker 00 Just sounds a lot.
18:18 Speaker 02 That's a lot of dough, right? So...
18:23 Speaker 00 Compared to something.
18:24 Speaker 02 Yeah, so let's think about it. Like, what, what is the difference between, like, if you were to ask the question, what is the difference between a trillion dollars and a billion dollars?
18:35 Speaker 00 Lot of zeros.
18:36 Speaker 02 Uh, almost a trillion dollars. Right?
18:40 Speaker 00 That's right. Almost a tril- that's, that's right.
18:43 Speaker 02 999 billion dollars.
18:45 Speaker 00 Yep.
18:45 Speaker 02 Almost a trillion dollars. So, if, if you were...
18:55 Speaker 02 If you were to buy every single piece of real estate in all of Manhattan...
19:05 Speaker 02 All 1.1 million residential and commercial properties. And you bought them twice. Based on recent valuations. It'd be worth 3.3 trillion.
19:18 Speaker 00 Wow.
19:19 Speaker 02 If you bought all of Manhattan. Twice.
19:22 Speaker 00 Now, I about six, maybe eight months ago, we looked at the billionaires list.
19:27 Speaker 02 Yeah.
19:27 Speaker 00 Top billionaires in the world.
19:29 Speaker 02 Musk, Zuckerberg.
19:31 Speaker 00 Zuckerberg, the guy from Louis Vuitton or Dior or whatever.
19:34 Speaker 02 Jeff Bezos, who's a little bit, who's a little bit poorer today since he got married over the weekend, right?
19:40 Speaker 00 Oh, yeah. Yeah, I didn't, I didn't look at that. That just does, it's not appealing to me. Stuff like that is not appealing to me to watch. But that's, that's. A lot of these billionaires, if you combine probably all of their wealth, it's not going to be 3.3 billion dollars or close to it.
19:56 Speaker 02 3.3 trillion.
19:57 Speaker 00 Trillion, yeah.
19:58 Speaker 02 So, yeah, if you were to take Musk. Larry Ellison, Mark Zuckerberg, Jeff Bezos, and the next 18 richest people, that's 21 richest people on the planet. Then you'd have 3.3 trillion.
20:12 Speaker 00 How about if you hit the lottery?
20:14 Speaker 02 Ah, okay, so this was a good one. If you were. So, i- i- if you were born today. And you played the lottery every single day since the day you were born.
20:30 Speaker 02 And you played every single game in every US state. Every single day.
20:36 Speaker 00 Then you won every day?
20:37 Speaker 02 And you won every single time that you played.
20:40 Speaker 00 Oh, yeah.
20:42 Speaker 02 From scratch off to Powerball to. Normal, all of the lottery games. It would take you 75 years to rack up 3.3 trillion dollars. That's assuming you paid all the taxes on your winnings.
20:55 Speaker 00 75 years.
20:56 Speaker 02 Take you 75 years. You'd be a 75-year-old man or woman. If you won every single lottery jackpot. Every day. Of your life for 75 years.
21:08 Speaker 00 There you go, folks.
21:09 Speaker 02 That's a lot of dough.
21:10 Speaker 00 3.3 trillion dollars and what it compares to. I can, I, I bet you I can stack them up and get to the moon.
21:18 Speaker 02 Uh, pretty close. Pretty close.
21:23 Speaker 00 Seriously?
21:24 Speaker 02 Yes.
21:24 Speaker 00 Hundred dollar bills or one dollar bills?
21:26 Speaker 02 Uh, if you took hundred dollar bills.
21:28 Speaker 00 Oh, my.
21:29 Speaker 02 Hundred dollar bills, you could stack them, it would be, uh, 2,200 miles high. So that would be past the orbit of the International Space Station, late end to end. Yeah. So, yeah, if you, yeah, you'd be a ways up there. Not quite to the moon, but close.
21:45 Speaker 00 What about pennies?
21:46 Speaker 02 Yeah.
21:47 Speaker 00 You get to Mars.
21:48 Speaker 02 Yeah.
21:48 Speaker 00 You can get there comfortably.
21:49 Speaker 02 Shoot.
21:51 Speaker 00 They build a bridge. My God. 3.3 trillion dollars and the comparison in numbers with that.
22:00 Speaker 02 You know, and, and this goes back to like, we talk about Doge and, you know, the, the fraud, waste and abuse and how much we're spending and everything. And while I get it and I'm, and I'm always one to say, look, cut out fraud, wherever it is. But we wind up getting so angry over this hundred thousand dollar or million dollar or 10 million dollar grant over here. When there's hundreds of billions of dollars in, in corporate welfare over here, right? And we're, we're getting, we're getting angry and riled up over the wrong things.
22:38 Speaker 02 Cause that, that little tiny thing over there is not even a, a, a flea on a horse.
22:47 Speaker 00 Yeah, you're getting into how to present things. Sometimes things get presented a certain way where you get the buy-in. It's all about vision casting, right? So if you're a true vision caster and you can sell your products, you're going to be able to sell the products. And people are going to believe what that product has.
23:04 Speaker 02 Again, how, what, what's the difference between a billion and a trillion? Almost a trillion.
23:09 Speaker 00 That is true. Now, one of the things, we talked about solar, right? And the impact of this bill on solar, we talked about that.
23:15 Speaker 02 Basically, it almost goes away.
23:16 Speaker 00 Almost gonna go away. I mean, I think there was talk about solar just going away and the tax credits. Now for, I, I read for the, the purchase, the power purchase agreements.
23:25 Speaker 02 Yeah.
23:25 Speaker 00 Those don't get the tax credits anymore.
23:27 Speaker 02 Uh, starting in 29?
23:30 Speaker 00 28, I think.
23:31 Speaker 02 28, yeah.
23:32 Speaker 00 But then there's a phase down of the tax credits.
23:35 Speaker 02 Right.
23:35 Speaker 00 And, and they're gonna be. A little bit faster now under this bill versus what it was earlier. So there you go, folks. $3.3 trillion in the comparison to other things.
23:48 Speaker 02 Just play the lottery.
23:49 Speaker 00 Yeah, for the next 75 years.
23:51 Speaker 01 Don't listen to him.
23:55 Speaker 00 Steven, let's take a break. When we come back, there's more to come.
23:58 Speaker 01 If you're a business owner who provides a retirement plan for your employees, contact Money Wise Wealth Management to see if you're maximizing your options and minimizing your liabilities. Money Wise 401k plans are customized to you and your company's needs. 661-847-1000.
24:21 Speaker 00 I'm gonna guess this is for Justin, Steven.
24:24 Speaker 01 For all of us.
24:26 Speaker 00 Not for me. I don't know what this is.
24:29 Speaker 01 You don't know Jimi Hendrix?
24:30 Speaker 00 Ah, yeah, I'm just kidding. Because you made fun of me listening to Missy Elliott, so I got to...
24:36 Speaker 02 Did you, Steven, did you see the video of Danny Carey playing this with like a high school band at a gym?
24:42 Speaker 01 Really?
24:43 Speaker 02 Yeah.
24:43 Speaker 01 No, I haven't seen that one.
24:44 Speaker 02 Yeah, you gotta pick it up on YouTube.
24:45 Speaker 01 I did see an old video of Jimmy playing here at the convention center.
24:50 Speaker 02 Oh, yeah?
24:50 Speaker 01 And, uh...
24:51 Speaker 02 He rocked it?
24:52 Speaker 01 Yeah, he rocked it.
24:53 Speaker 02 I think my stepdad was at that concert.
24:55 Speaker 01 They said he, uh, that the cops had to come out.
24:59 Speaker 02 Yeah, my stepdad was at that concert.
25:01 Speaker 01 They said the cops had to come out to unplug the equipment because he wouldn't stop playing past curfew.
25:06 Speaker 02 Yep, kept going.
25:07 Speaker 00 That's crazy. Well, welcome back, folks. We're back at the Money Wise Show. This talk about trillions got me thinking about the debt level we have, the consumer debt level we have in the US.
25:19 Speaker 02 Yeah.
25:20 Speaker 00 In comparison to our deficit, in comparison to what this bill is gonna create as an additional deficit, our consumer debt.
25:30 Speaker 02 Just you and me?
25:30 Speaker 00 Let me just ask you, what do you think that debt level is at?
25:35 Speaker 02 If you're taking into account student debt, car debt, house debt, credit card debt, uh, medical debt, everything, I'm, I'm thinking you're approaching somewhere close to 20.
25:49 Speaker 00 You're very close. Good guess. 18.2 trillion dollars of consumer debt.
25:56 Speaker 02 That's a lot of debt.
25:56 Speaker 00 Breakdown, your, I mean, your breakdown was also good. Mortgages, 12.8 trillion. That's close to 13.
26:04 Speaker 02 Almost 13 trillions mortgages. Wow.
26:06 Speaker 00 Auto loans and student loans, close to each other, 1.6 trillion dollars.
26:11 Speaker 02 Yeah, I knew student loans were up there about 1.1, now the 1.6 you're saying though, right?
26:16 Speaker 00 Yeah, 1.6.
26:17 Speaker 02 Wow.
26:18 Speaker 00 And credit cards at 1.2, almost 1.2. And guess where the delinquency of these loans is?
26:26 Speaker 02 Are we approaching 4%?
26:29 Speaker 00 No. It's, I'm, I'm talking about the age group that's delinquent the most.
26:34 Speaker 02 Oh, the age group that's delinquent the most? Probably you're looking in your twenties to 25.
26:38 Speaker 00 Yeah, that's probably because of the student loans and also.
26:42 Speaker 02 Default on loans, yeah.
26:43 Speaker 00 Yeah. So 20, the, the age group of 25 to 35.
26:47 Speaker 02 Okay.
26:47 Speaker 00 Is, has the, the.
26:50 Speaker 02 Highest default rate.
26:51 Speaker 00 Yes, the highest default rate. Um, the, the, the challenge, I think here, that, that, why there's more usage of, of debt and leverage is probably, and I'm just gonna guess, salaries not catching up to.
27:09 Speaker 02 Inflation.
27:10 Speaker 00 Inflation.
27:12 Speaker 02 Although.
27:12 Speaker 00 Which might get worse, I think, if these tariffs take hold or take place.
27:18 Speaker 02 Yeah, and I, but there are some, there is some data out there that has shown that wage growth has. Happened over the past five years with the inflation numbers and that actually wage growth has actually been a driver of some of that inflation, right? So that is, you know, wage growth is a inflationary pressure. So I think that, you know, with, with the unemployment rate having, you know, after COVID unemployment rate was in the threes for a very long time, right? And it was very, very difficult to find good employees.
27:55 Speaker 00 Yeah.
27:56 Speaker 02 And so you had employers that were poaching.
28:00 Speaker 00 Yes.
28:01 Speaker 02 They had to. And how, how do you poach a good employee from another good employer?
28:06 Speaker 00 You pay more.
28:08 Speaker 02 Right. So the wage.
28:10 Speaker 00 And we've seen it, especially in, in Bakersfield. We've seen it.
28:12 Speaker 02 Yeah.
28:13 Speaker 00 Almost across the board for every industry.
28:15 Speaker 02 Across the country.
28:15 Speaker 00 Medical, banking, accounting.
28:17 Speaker 02 Everywhere.
28:18 Speaker 00 Uh, we've seen that happen. I think, I think you're, you're right on that and I would agree with that.
28:23 Speaker 02 Yeah. And I think that that was part of the, you know, part of the drive for inflation, again, with other things causing inflation, which was, you know, supply chain issues and everything else. Inflation is not just a one, a one piece number. But then with, with that, I, I do agree with you that because things are so much more unaffordable, I guess you could say, they're less affordable than what they were before, you know? And we as a society still tend to be very much instant gratification.
29:01 Speaker 00 Yes.
29:02 Speaker 02 We do not want to wait for things of, hey, I can't afford that dining room set. Uh, I can afford it in four more paychecks, but I can't, but I want it now. So I'm just going to put it on my, you know, my credit card and I'm going to pay twice the amount for it today than I would if I just were to wait.
29:23 Speaker 00 Yes. I think some of the, the.
29:29 Speaker 00 Some of the things that take place is this facilities or credit facilities that we have, Klarna for instance, I don't know how we call those. But making it super easy for people just to pick a TV, dining set, a couch and say, hey, let's just put it on payments instead. Well, you're paying close to 20% north of that.
29:53 Speaker 02 Right.
29:53 Speaker 00 Interest.
29:54 Speaker 02 Easy more than that.
29:56 Speaker 00 And that eats at your savings. Right? I mean, to start with, we're not a saving society anyways. We don't, we have difficulty saving money. It's kind of like it burns our pockets. We want to go and just.
30:08 Speaker 02 We're a consumer society.
30:09 Speaker 00 Yes, we are. We are.
30:11 Speaker 02 I think our savings rate's somewhere right around 2%. As a nation, I think we're something, we're very low.
30:20 Speaker 00 Yeah, I don't know if it was you or somebody else that said this before, like the average American cannot afford a $400 emergency.
30:28 Speaker 02 You're absolutely right.
30:29 Speaker 00 That kind of like stuck with me when I heard that.
30:33 Speaker 02 Yeah.
30:34 Speaker 00 The only way to avoid stuff like that or things like that is to learn how to save. Now, it does not start late in your 30s.
30:42 Speaker 02 It has to start very early.
30:43 Speaker 00 It starts like in your teens, your parents, your school even getting involved in some type of financial classes, which I think we do a poor job at. I don't think we do our teens favors by just providing everything. And when they get out of college, they are used to a certain lifestyle. And then they get hit. I have a, you know, student debt, I need a car, you know. You can only ride an electrical bike so far.
31:12 Speaker 02 And it's too easy. And if you see on some of these college campuses, you know, the very first week you're on a college campus, the predators are there.
31:22 Speaker 00 Yes, yes, yes, yes.
31:23 Speaker 02 Right? The tables are out with the flags and the merch. And it's like Citibank over here and Chase over there and.
31:32 Speaker 00 So it's funny you say that. I was doing my blood work last week and I paid with my American Express. And the gentleman that took my blood told me, oh, I lost my privileges with them. I'm like.
31:44 Speaker 02 How do you lose privileges?
31:45 Speaker 00 With American Express because once you go delinquent with them, they never give you.
31:49 Speaker 02 You're done.
31:49 Speaker 00 That's it. So he was, he was, he was early, he was in college, to your point.
31:55 Speaker 02 Yeah.
31:56 Speaker 00 He got a credit card. And he abused the credit card.
32:00 Speaker 02 Hmm.
32:00 Speaker 00 And he was not able to pay it back.
32:02 Speaker 02 And they.
32:03 Speaker 00 And they closed it down and he lost that privilege.
32:06 Speaker 02 You're you're donezo.
32:07 Speaker 00 That's it. But he was young. And I said, well, uh, like, let me ask you a question in college or or in high school. Did you learn a little bit about credit cards and impacts like? No, man, none of that.
32:18 Speaker 02 No.
32:19 Speaker 00 Uh, none of that. My parents did not teach me. I didn't learn this in in in college nor in high school. So it was just me getting a credit card and all of a sudden I had this spending. You know, ability.
32:30 Speaker 02 Yeah, you have the burning the the, like you said, the money's burning a hole in your pocket, even though it's not yours.
32:38 Speaker 00 You know how easy like when I first came came to America, you know, swiping the card? Like you, I came from a cash society and all of a sudden you can swipe the card and it's so easy.
32:47 Speaker 02 Now you don't even have to swipe.
32:49 Speaker 00 No.
32:49 Speaker 02 You could tap.
32:50 Speaker 00 Yes, that's right.
32:51 Speaker 02 I could tap my phone.
32:52 Speaker 01 Yeah, I double click your phone.
32:54 Speaker 00 That did it. And so I think we do our teens a disservice by not teaching them how to manage or how to budget.
33:01 Speaker 02 Mm hmm.
33:01 Speaker 00 I encourage parents to do that. I I would love for our schools to do that. We at Money Wise, we volunteer a lot, actually, our time with nonprofits and and and and stuff to go and teach families how to budget.
33:15 Speaker 02 Right.
33:16 Speaker 00 So so, uh, definitely something to to be aware of, something to just pay close attention to. And don't let leverage guide your life because that's the kiss of death.
33:25 Speaker 02 There's there's certain things that are good debt.
33:27 Speaker 00 Oh, yes.
33:28 Speaker 02 Right? Like I I'm OK with, you know, obviously mortgages. You're not going to come up with $500,000 to buy a house. You're just not gonna do it. Um, you know, if you if you can, good for you, I guess. Um.
33:41 Speaker 00 So here's a fact for you.
33:42 Speaker 02 Again, a car.
33:43 Speaker 00 Mortgage.
33:44 Speaker 02 Mortgage.
33:45 Speaker 00 Mort. Gage.
33:46 Speaker 02 Mortgage.
33:47 Speaker 00 Yeah, so it's a it's a it's a two word.
33:49 Speaker 02 Yeah.
33:49 Speaker 00 Mort is mort in French, which means.
33:52 Speaker 02 Dead. Death, yeah.
33:53 Speaker 00 Yeah, so you're gonna. You're gauging your death.
33:58 Speaker 00 You're not going to pay that off until you die.
34:00 Speaker 02 That's why it's 30 years.
34:01 Speaker 00 That's right.
34:02 Speaker 02 Yeah. And then, you know, the other good debt really, um, and a lot of people would argue with me on this is, is maybe a car. Right?
34:10 Speaker 00 Yeah.
34:10 Speaker 02 You know, the, you need transportation to be able to get to and from a place of work. Now, obviously you're not going to go out and buy a, a, a brand new Beamer and have a $1,200 a month car payment. You know, that Honda Civic is probably going to do you just fine.
34:28 Speaker 00 If you're gonna use, I, I like what, I don't know who, if it was the listener or somebody told me this. I just need the car to take me from point A to point B.
34:35 Speaker 02 Exactly. And back.
34:37 Speaker 00 And that's it. That's all I need. But I agree with you. I think because you go and you sit in front of a car salesman. And they bring the four square. Hey, what do you think your monthly payment should be? That's where they start.
34:51 Speaker 02 Yeah.
34:52 Speaker 00 Oh, I can afford $500. Okay, let me put you on this thing. But I cannot do the 500. Can you do 675?
34:59 Speaker 02 I hate that. I just get up and walk out.
35:02 Speaker 00 If I don't eat, if I don't eat out twice, yes, I could do the 675. Now, that's all we're thinking. We're not thinking about, maybe we need to increase our savings from the average 2% to maybe 15, 20%.
35:14 Speaker 02 Right.
35:15 Speaker 00 So we can afford the car that we want without a lot of leverage eventually.
35:19 Speaker 02 Those are the moments I just get up and walk out and then the salesman's like chasing me down the street.
35:23 Speaker 00 Yeah, that's what you get. You, you do the bizarre tactics. You walk away and then they start chasing you and just, I'll just give it to you for 400.
35:32 Speaker 02 Come back to me when you can do 375.
35:39 Speaker 00 All right, Stephen, we're going to our last break. When we come back, there's more to come.
35:43 Speaker 01 Have you been putting off your finances? Seize the day. Call the Money Wise office at 661-847-1000. Or email [email protected] for more information.
36:01 Speaker 02 What's with this Moroccan music?
36:07 Speaker 00 Don't be a hater. Don't be a hater. Welcome back to the Money Wise Show. Um, Justin, uh, when we were off, uh, we started talking about Hummer and
36:19 Speaker 02 Oh, yeah.
36:19 Speaker 00 Electrical cars and, and, and you said that, you said, you said something about.
36:24 Speaker 02 Yeah. So, uh, I just saw this, came across that, uh, the electric Hummer, which is made by GM, General Motors.
36:31 Speaker 01 That's un-American.
36:33 Speaker 02 That's un- it's un-American?
36:34 Speaker 01 An electric.
36:35 Speaker 02 An electric Hummer.
36:36 Speaker 01 That doesn't even make sense.
36:38 Speaker 00 Uh, yeah. I, I don't know. I've seen them and.
36:41 Speaker 02 They look pretty nice. It looks pretty cool.
36:43 Speaker 00 Yep.
36:43 Speaker 02 That's a pretty look.
36:44 Speaker 00 I don't know how much they cost, but they look pretty cool.
36:47 Speaker 02 Actually, it almost, almost outsold the Ford F-150 Lightning, the electrical light, the electric Lightning.
36:56 Speaker 00 Americas.
36:57 Speaker 02 Uh, yeah. So I was looking into this and I'm like, okay, wait, so
37:03 Speaker 02 General Motors and all of their electric, their EVs are
37:10 Speaker 02 doing really well, right? The, the Hummer is doing well. The Equinox is come, you know, the, they've got some pretty good, uh, vehicles as far as the electrics are concerned. Contrast that to Ford and Ford is actually seeing a 31% drop
37:30 Speaker 02 in electric vehicle sales in the second quarter of this year.
37:34 Speaker 00 What, what do you think? Is that because of their charging stations or lack of charging stations or the network or?
37:40 Speaker 02 Maybe it's the infrastructure, it's, uh, the pricing. I, I wonder if maybe even partially the, the issue is, uh, some of these tax credits and, and people wondering, are some of these tax credits going to go away?
37:56 Speaker 00 Yeah, that's, well, if they had bought the car before.
37:58 Speaker 02 It would still be, it'd be fine.
38:00 Speaker 00 It would still be in effect, but definitely I think you bring up a good point. I think with the new bill and the volume of the bill, I think definitely this sector is gonna suffer. You told me, I think also during the break that Tesla's stock went down 5%.
38:12 Speaker 02 Yeah.
38:13 Speaker 00 Today?
38:13 Speaker 02 Today, down five, five and a half percent.
38:15 Speaker 00 Is that because of the bill or is that because of the feud because the two men?
38:19 Speaker 02 Yeah, it's probably because the bromance is dead. Um.
38:24 Speaker 00 I think Trump is gonna deport Musk. What do you think?
38:27 Speaker 02 I think maybe Musk needs to buy him some chocolates or Big Macs or something.
38:31 Speaker 00 I definitely think, he might deport him, man, to South Africa.
38:34 Speaker 02 Maybe. Pull his, pull his green card.
38:37 Speaker 00 No, I think he's a citizen.
38:39 Speaker 02 Is he a naturalized citizen now?
38:41 Speaker 00 I think so.
38:41 Speaker 02 Okay.
38:42 Speaker 00 Yeah, I think so.
38:43 Speaker 02 Revoke his citizenship.
38:45 Speaker 00 Unconstitutional.
38:46 Speaker 02 Yeah. Does that, that stopped him before?
38:49 Speaker 00 Yeah. Going, going back to the Hummer though, I think it's just a prettier car than the F-150.
38:56 Speaker 02 But I would agree with that. I mean, as, as a, a point of opinion, I think it's a better looking vehicle.
39:01 Speaker 00 I think so. It, it just looks nice. I, I, I looked at some of the statistics between the two. The range.
39:08 Speaker 02 Is better.
39:08 Speaker 00 Is better.
39:10 Speaker 02 It's also got the four-wheel steering.
39:12 Speaker 00 And 1,000 horsepower.
39:13 Speaker 02 Yeah.
39:14 Speaker 00 And the Hummer versus 580 to 775 in the, in the F, the, the, the F-150.
39:21 Speaker 02 Yeah.
39:22 Speaker 00 So there's superiority, superiority there. I think that's, that's, people are doing their research and like, hey, well, I want this instead.
39:29 Speaker 02 Yeah.
39:29 Speaker 00 Now, price-wise, I think you can get a very cheap F-150 Lightning, like the base.
39:34 Speaker 02 The base model.
39:35 Speaker 00 In the 40, maybe 50,000 dollar range versus the Hummer.
39:38 Speaker 02 Yeah, you're looking 100K. For, for a good one.
39:42 Speaker 00 Yeah.
39:43 Speaker 02 Yeah. It's, it's, it's, it is pretty.
39:47 Speaker 00 I wonder, I wonder if we can get past what we talked about earlier and money, money that you don't have and you can spend it on something that you really, really want.
39:54 Speaker 02 Yeah, the, the.
39:55 Speaker 00 Really, no, don't need, but you really want.
39:58 Speaker 02 Yeah. Burning a hole in your pocket?
40:00 Speaker 00 I can show up here in front of MoneyWise and just, just like, hey, you wanna go on a ride?
40:05 Speaker 02 No.
40:05 Speaker 00 In my Hummer?
40:06 Speaker 02 Yeah. Nope. I'm gonna leave that right there.
40:11 Speaker 00 On a serious note, I really think the EV industry.
40:15 Speaker 02 Under some serious pressure. Yeah, they're, they're gonna be in for a real challenge. I think. You know, with the, with this bill, um, that's been passed, uh, and with the political headwinds that the electric and, and the alternative energy sources are going to be facing, what we already have an issue with infrastructure.
40:35 Speaker 00 Yes.
40:35 Speaker 02 That infrastructure is not going to get any better under this bill.
40:38 Speaker 00 Correct. Look, you look at, people invest in money. They're not going to invest in something that has risk.
40:45 Speaker 02 Right.
40:45 Speaker 00 And this has a huge risk because it survived based on those tax credits.
40:49 Speaker 02 Right. Subsidies and everything else. Yeah.
40:51 Speaker 00 If those are pulled, then it's going to be very difficult.
40:54 Speaker 02 Yeah. You're not going to be throwing that money in there if there's not going to be some kind of a subsidy that's going to be able to bankroll you.
41:00 Speaker 00 Yeah. Now we live in a state that believes in the EVs and they're going to find a way how to maybe, if, even if the federal program goes away, they might.
41:07 Speaker 02 The state might subsidize something, right?
41:09 Speaker 00 You know, the, the.
41:09 Speaker 02 On a state level?
41:10 Speaker 00 But I don't think that's the answer though.
41:13 Speaker 02 Right.
41:14 Speaker 00 You know, the, the, have, having this challenge, we need to have a long-term solution for the challenge. I still like EVs or some sort of EVs. What I do not like is the fact that we have now a date of 2035.
41:30 Speaker 02 That's been pulled though, I think, uh, through the executive actions, right? So.
41:34 Speaker 00 It's, it's in court.
41:35 Speaker 02 Yeah, that's going to be going.
41:36 Speaker 00 The state is suing for that.
41:37 Speaker 02 Yeah.
41:38 Speaker 00 But I hope, I hope that just falls. I still do believe in EV or some type of renewable energy over time.
41:45 Speaker 02 Right.
41:46 Speaker 00 Cause I think we have a finite amount of oil that's eventually going to go away, but it's not going to go away in the next 50 years.
41:51 Speaker 02 Yeah.
41:52 Speaker 00 I don't think so.
41:53 Speaker 02 But we also, as we were talking again off air, was that there's a certain thing that we believe in, in this country, which is called freedom.
42:00 Speaker 00 Yeah, we're talking about that too.
42:02 Speaker 02 There's a freedom of choice. If I want to buy an EV, that's my choice.
42:06 Speaker 00 And if I want to have a gas guzzler like I do.
42:09 Speaker 02 If I want to buy, buy an old, like 1965 Oldsmobile with a 454.
42:15 Speaker 00 Man, let me.
42:15 Speaker 02 I'm going to go ahead and buy it.
42:16 Speaker 00 That's why.
42:17 Speaker 01 A real Hummer.
42:18 Speaker 02 The real, the real Hummer.
42:19 Speaker 00 Do they still make those?
42:20 Speaker 02 The one that takes up two lanes.
42:21 Speaker 00 They, they don't make those anymore, Stephen.
42:23 Speaker 02 They, they drive them in the army.
42:24 Speaker 00 Those, they, they stopped production of those when Mr. Elliott stopped production of music.
42:29 Speaker 01 Thank you. Even trade.
42:33 Speaker 02 I think that was fair.
42:34 Speaker 00 Yeah, but but I I really don't know where this thing is gonna go between Musk and and President Trump. I it's it's it's.
42:42 Speaker 02 Somebody needs to send some roses and some chocolates.
42:45 Speaker 00 Yeah, yeah, it's just nonsense really at the highest level, in my opinion.
42:51 Speaker 01 Put him in the celeb, what is it, a death match?
42:55 Speaker 02 Yeah.
42:55 Speaker 01 Let him box it out.
42:56 Speaker 02 Yeah, the old MTV.
42:58 Speaker 00 Octagon, I say UFC.
43:00 Speaker 01 That'll work, I'll pay for it.
43:01 Speaker 00 Yeah, definitely, that would be worth watching. I think Trump, I think Trump will win.
43:07 Speaker 01 He's 78 years old.
43:08 Speaker 00 Doesn't matter. Have you seen, have you seen, what's his name on the, his boat? The, ah, you know what, dude? I think Trump will take him. I'm, I have my money on Trump.
43:19 Speaker 02 Diaper and all?
43:22 Speaker 00 I think Trump will take him. Let's take a bet, Justin. We took a bet before.
43:26 Speaker 02 Yeah, right.
43:27 Speaker 00 And you won, I need my money back.
43:28 Speaker 02 You need your money back because that's a fight that would never actually happen.
43:30 Speaker 00 I want money back, man.
43:32 Speaker 01 Vegas would put some bets up.
43:33 Speaker 00 Definitely, definitely. Well, great having you back on the show, Justin. Hosting with you was fun. Steven, who do we have tomorrow?
43:41 Speaker 01 We have Mary Ann and Ashley from Legacy Staffing Solutions joining. You might know her.
43:47 Speaker 00 Yeah, I've known her for 21 years. She's living with me. She's my roommate.
43:51 Speaker 01 She's your roommate. She's gonna slap you tomorrow. On the air, we'll be getting down to business tomorrow, live from 2 to 3 right here on the Money Wise. Guys, until then, be smart, be safe, be money wise.
44:12 Speaker 04 Securities offered through LPL Financial, member FINRA, SIPC. Investment advisory services offered through LPL Financial. LPL Financial and Money Wise Wealth Management are independently owned and operated.
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