This week, J.R. and Anthony break down a plan to have stored-away cash, and setting up your finances to withstand any market situation. Plus, the guys talk about the train and truck derailments across the United States.

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2.17.23: Audio automatically transcribed by Sonix

2.17.23: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Producer:
Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.

Producer:
This is Another Money Show. Get set for another hour of the latest financial information and economic news affecting your bottom line. J.R. and Anthony are committed to helping more Americans like you optimize their income, reduce their tax risk, and reach financial freedom. So let's start the show. Here are your hosts, Anthony Carrao and J.R. Rotchford.

Anthony Carrao:
Here we are, folks. Your hosts, Anthony Carrao, J.R. Rotchford taking a break from our day to day of our office jobs as financial advisors with Rotchford and Associates, fully independent fourth generation family practice. And that is much too long for families to be putting up with one another. But here we are. We've still done it. Um, we are taking a break from that gig to bring you Another Money Show. Try to be a little bit different than those other money shows out there trying to bring you some updated news, tell you what's really going on in the world, in the financial markets. So what do we got this week for our listeners, J.R.?

J.R. Rotchford:
Well well, there are a few things going on. First of all, we got through Super Bowl weekend. Did you notice that it was in Arizona? I mean, by the traffic or, you know, by the noise? Yeah, I.

Anthony Carrao:
Didn't leave my house this weekend. I was not putting up with.

J.R. Rotchford:
That good call. And they kept it was funny. I've seen a couple pictures like aerial pictures of State Farm Stadium, you know, with the roof open and then next to it, pictures of the Rome, the Coliseum. Oh, yeah.

Anthony Carrao:
That is your favorite. Rome's burning analogy, isn't it? Yeah. And now it's happened in your own backyard.

J.R. Rotchford:
Yes. Bread and circuses right here in Phoenix. Well, don't we.

Anthony Carrao:
Have, uh. We've got UFOs now. I mean, that's the newest distraction coming out.

J.R. Rotchford:
Slow down. Let me. Let me air out. We are definitely going to be shooting down some UFO stories today. Yeah, no, I mean, the Super Bowl is just so funny. I mean, hearing the hearing about two national anthems, hearing yay or nay on the halftime show, you know the bet. It's the the bet, the game itself. You know, speaking of.

Anthony Carrao:
Bets and financial prosperity, I believe you owe somebody $10.

J.R. Rotchford:
Yes. I'll never live it down, Jim. Terrible.

Producer:
So you texted me at halftime because I said the Chiefs were going to win by five. Did they win by five? I don't even remember. But I said the Chiefs were going to win. And then you texted me and said, You're going to owe me money. And then the Eagles came out and they crapped the bed in the second half to begin. The second half couldn't stop Mahomes And guess what? The Chiefs won. And I was right. So that's the main story here.

Anthony Carrao:
That's our financial advice for this week. Forget the two national anthems. It's sports betting.

Producer:
I'm the winner, I'm the winner. And all of this, when it comes to.

J.R. Rotchford:
The crap, the bed. I believe you said craft the bed. Is that a financial term or is that a term?

Producer:
Could be. It could. I think it crosses across all areas.

Anthony Carrao:
Well, that's what Credit Suisse is doing.

J.R. Rotchford:
But there's a lot of banks and a lot of financial companies that are crapping a lot of beds right now. Welcome to Another Money Show where we're crude, but we're we're always right about stuff. So yeah. And I guess there's not much to say. I mean, the whole thing, it was this just big pomp and circumstance, you know, there's people talking about food insecurities. You see these long lines at Saint Mary's and all this stuff, and yet, you know, they're interviewing people. I guess the highest seats went for like $32,000 or some ridiculous thing each. They were interviewing on one of the TV stations, this guy that paid $10,000 a seat. And he was basically saying that it was a once in a lifetime experience. He had to do it for his family. It just and it seemed like it was a stretch for him. Like this didn't seem like a wealthy man. This didn't seem like they were interviewing Jay-Z. So and I was like, well, if you really want to change your family's experience, do some more long lasting, you know, I don't know how many people he bought tickets for. If it was, you know, two kids, two adults, whatever, that's $40,000. Put that into a life insurance policy, turn pennies into dollars, you know, give your family a bigger gift later. I don't know. It was just. Yeah, but how do.

Anthony Carrao:
They enjoy it now, right? You always talk about living for today and tomorrow. Did they. Granted that's a that's a stretch though. I mean if that is if you got 50 grand in the bank and that's most of your assets and 40 of it goes to Super Bowl tickets, that's maybe that one's a stretch.

J.R. Rotchford:
And it was one afternoon, you know, the parking was a mess. Obviously, you had to pay a bunch of money to park. Oh, it was like.

Anthony Carrao:
120 bucks a spot is what I think I saw at the.

J.R. Rotchford:
Stadium. And then my understanding, depending on where you went, there were there were worse spaces, you know. Another person heard, interviewed, paid $150 for a space, but don't know. The whole thing is just it's amazing. I mean, the difference between the haves and the have nots, the difference between the important and the not is just glaring to me. Think of all.

Anthony Carrao:
The money that's come through Arizona in the last just couple of weeks. I mean, we had Barrett Jackson, you know, multi-million dollar sale a car sales the Russo steal all the car auctions for that week Then we had TPC and then we had the Super Bowl.

J.R. Rotchford:
Did you notice they changed the name? It seems like they've kind of they've lightened up the name. It used to be the Waste Management open, which is kind of a crappy I almost said a bad word. It's kind of a crappy name for a golf tournament now. It's just the w m it's the most you know, we still know what it means, kids. So we know it has to do with refuse marketing, branding, smart. You know, you don't want those people to crap the bed. So it and it's funny because the you're right. I mean so much money went through here. You know, it seems almost as important to me. 31.5 trillion in debt, personal savings, credit card interest rates are up to 20%. You know, and there are wealthy people. I mean, I've driven through Paradise Valley, Scottsdale, you know, it seems like mostly the the east side of the valley, although what.

Anthony Carrao:
About all those wealthy people that just had the water, you know, shut off to their homes? Rio Verde, Scottsdale.

J.R. Rotchford:
Yeah. We're now Epcor is going to bail them out within two years. I don't know. I mean, the more I read, the more confused I am about the world. Flint, Michigan, was one of the pioneers of undrinkable water there. Back in the news, they're saying that Flint, Michigan, be careful with the water. Um, Palestine. Palestine. I don't know how you pronounce it. Ohio. We'll get to that in a few minutes. We need to talk about that for a second. We got we got to get to Ohio. But they're telling people today, you know, like, I don't know, ten days after a little snag over there to drink bottled water, it's like, well, what have you been drinking water for the last ten days? You know, should you start checking yourself twice a year? Become what?

Anthony Carrao:
Become an X-Men? Wolverine? That's how that started, right? Spider-man?

J.R. Rotchford:
Yes. How exciting. So we're going.

Anthony Carrao:
To talk about that. We had our own little, uh, issue with that, too, in Tucson. Do you see that video?

J.R. Rotchford:
Yes, I did. Yeah. Well, let's just jump into it right now. Let's jump into current events before we talk about anything financial. So the thing in Ohio, apparently there were some toxic chemicals on a train and the train crashed, went off the rails, whatever, like our country's finances. And apparently it was leaking this some sort of acid. A couple of thoughts. First of all, to to slow this down, to slow the train down, do you think that you should have some sort of safeguards? Maybe, you know, somebody, a guard, go with the train, Then it turns out I'm just hearing this yesterday that there was this there was problems with the brakes on the trains. They were trying to skirt some sort of safety measures and they got away with it. And oops, now they had a crash and we're all going to die. You know, apparently a guy with a fox farm, the foxes are sick and dying. People's dogs are acting funny. People are getting sick. You know, And by the way, mean the spill wasn't the issue. The government came in to clean up the spill and apparently they decided to burn the acid up. And now you can find these videos of a huge mushroom cloud where they burned up the acid and everybody's getting sick. Yeah. Oh, my gosh. And then yesterday, by the way, today is Wednesday the 15th as we record yesterday. Tuesday the 14th. Happy Valentine's Day, Tucson. So there was a semi truck on the I-10 and the semi truck had nitric acid in it.

J.R. Rotchford:
So kind of a similar reminds me a little bit of of Ohio and the semi truck crash. And it's sad by the way the driver apparently last night passed away. So not good. The I-10 was backed up from what I hear out to Tonopah, think about that, 120 to 150 mile backup. Really? Yes. So that leads me to believe that if we have a snag in this valley, which is, you know, a valley, we're going to be trapped in this valley if something ever happens. So here, talk about money. Talk about the extra fuel people used, which leads me to global warming and other things. But, I mean, when you think about a backup that stretched past the valley from Tucson, if you're familiar with Arizona, you know, that's a long way. So this truck, I got to see some of the videos of it, It looks pretty nasty. And they're now they're saying if you're within a mile, this is what I heard this morning. If you're within a mile of this crash, stay in your house. You know, here we go, drink bottled water. You know, we're all going to die. My my prom. Who who dictates whether I have to be a mile? I'll tell you what I mean. I'm about, I don't know, 120 miles. I'm going to stay in my house. I'm not going to leave today, so I'm not coming to the office. I'm gonna stay here in my home office. Hold down the.

Anthony Carrao:
Fort. Thanks. Appreciate it. Just me working again. Well, right. I mean, it's. How does this affect your finances? Everything we say on this show is how to be prepared for things that you're not necessarily thinking of. And that's. What dictates the financial markets. You know, the quality of these companies doesn't dictate the stock prices. It's external factors. So maybe we talk about the ten pillars again and the things that we're watching which could come and affect your financial future and being prepared. But that's it for our first segment. We're going to have a short commercial break. In the meantime, if you have questions, concerns, anything we can assist with, reach us out. Reach out to us at team at AnotherMoneyShow.com and you can find us at AnotherMoneyShow.com. You could also listen if you're not tired of our voices yet, you can listen to past episodes of Another Money Show wherever you like and subscribe to podcasts.

Producer:
With soaring inflation continuing to wreak havoc on everyday budgets, there's never been a more important time to cut costs. But do you know where to begin? I'm Matt McClure with the Retirement.Radio Network. Powered by AmeriLife. There is no question costs have been soaring.

Sharon Epperson:
About one third, 34%, say they are worse off financially this year than a year ago. Almost half, 46%, say they've had to cut household spending due to inflation.

Producer:
Cnbc correspondent Sharon Epperson recently reported on a survey that sheds more light on how inflation has been impacting us all. Even those who earn six figures a year.

Sharon Epperson:
These high earners say the first expenses to go are dining out at restaurants, entertainment outside the home and travel and vacations. More than half also say they'll delay big household purchases.

Producer:
That high inflation has led the Federal Reserve to respond with interest rate hikes. The goal is to increase costs to tamp down demand. Esther George is president of the Kansas City Fed.

Esther George:
Already we've seen the committee's policy actions lead to a very sharp tightening of financial conditions.

Producer:
But it hasn't done enough yet and costs still keep rising. So what should you do? Well, we have a free resource called 23 retirement cost cutters for 2023. It's full of ideas to help you make the most of every penny. Things like take advantage of senior discounts, eliminate unnecessary subscriptions and cut back on clothing expenses, look at your.

Sharon Epperson:
Needs and wants, Figure out what's optional and what you can cut out.

Producer:
The last one on the list of 23 retirement cost cutters for 2023 is perhaps the most important. Seek advice from a trusted financial professional. That's the best way to get in-depth financial advice in retirement planning that's customized to you and your goals. Just make sure whoever you consult for financial advice has years of experience and credibility you can verify. So do you know the best way to cut costs in 2023? That's a key question to consider as our budgets get stretched to the max with the Retirement.Radio Network powered by AmeriLife. I'm Matt McClure.

Producer:
Another weekend, Another Money Show visit. AnotherMoneyShow.com.

Anthony Carrao:
Welcome back. You're listening to Another Money Show and we are talking about being prepared. If you are, you know in a mile of that Tucson spill to stay at home and, you know, are you prepared to stay at home? We talk about this all the time and probably more serious consequences. But this is an exact example of that. You know, what happens if there's food shortages, water shortages, toilet paper shortages? How do you stay ahead of that game and how much does that really cost you? And it really doesn't cost much to have a little extra food and water at home. So now we're seeing, you know, how that could potentially affect you right here in the valley without, you know, the consequences that we're saying if the market collapses and there's political unrest and rioting in the streets and all this weird stuff. I mean, you know, we talk about the market all the time. It's still it's on this up stretch this last week. But I want to put some numbers together for you that we mentioned in another show. Talk about all the time. You know, 40% of all the money in circulation right now was printed in the last couple of years. You know, that's an insane margin. So let's say we've got 20 trillion in cash, right? Because you need cash to buy things. We don't have a barter system. We also have personal household debt is 15 trillion, which means we pay off our debt. We really we have 5 trillion. Yet the stock market's value, I believe, is estimated at 46 trillion, 45 trillion. That means we have $5 for 45 trillion in a stock market, which means if we are going to purchase all of these stocks to give it the value that it's estimated, we have 10% of that actual value. So in order for the market to be worth what we could actually purchase for it, it would have to fall by 90%. If you look at those numbers.

J.R. Rotchford:
In history that's happened, Yes.

Anthony Carrao:
But it could never happen again. Right. Because we learned our lessons. We built a foundation.

J.R. Rotchford:
Yes. Not a house of cards. We built a strong foundation. Yeah. So we'll see. We'll see how this plays out.

Anthony Carrao:
Speaking of the Super Bowl, too, I mean, we're going to go back to that real quick. Do you remember all the commercials about how simple it was and how safe it was?

J.R. Rotchford:
And speaking of which, apparently got a little bit of trouble with a VPN. Apparently, he was watching the Super Bowl and they said, well, hey, if he's using a VPN and he's watching the Super Bowl, can he not be doing international monetary business right now? And so they're taking away his VPN.

Anthony Carrao:
Didn't they weren't they asking for their political contributions back, too? Did you ever hear that? Because wasn't he like one of the number two donors a couple of years ago for the presidential? But now he needs that money back? You think that's coming back to him?

J.R. Rotchford:
Well, sure, sure. No, I mean, I just got a check yesterday. The Madoff Bernie Madoff finally gave me my billion dollars back. So anything can happen. Yeah.

Anthony Carrao:
I got a call from a Nigerian priest or prince. I've got to give him a call back. Don't ignore that.

J.R. Rotchford:
Don't ignore that. Over the years I have ignored some of those emails and calls, and that's dumb. I mean, right now I could be retired, you know, had I actually.

Anthony Carrao:
Don't know why I'm doing this show now. Jim, do you want to come fill in for me and I've got to go call this a Nigerian prince back. That's where my day is going. No, you want to think.

J.R. Rotchford:
About Jim is a.

Anthony Carrao:
Man of many words.

J.R. Rotchford:
Jim does not need Nigerian prince money because he's got that fat bet money, that $10 that I owe. I'm going to have to figure out how to do Zelle or Venmo or one of these ridiculous things. Actually, I'm not Jim.

Anthony Carrao:
Jim's got 2 billion of Wells Fargo fraud money coming his way.

Anthony Carrao:
All right.

Producer:
I won't hold my breath, Rich.

J.R. Rotchford:
All right. So moving on back to current events. You know, first of all, on the railroad on the truck in Tucson, is it just me? I mean, is it my tinfoil hats too tight? What the hell? Why are we all sudden transporting acid all over the country? I mean, are we Is this more deep? Are we getting ready for any kind of a in the military?

Anthony Carrao:
I'd imagine that's normal trucking transportation, though. Really? Yeah. No, you're having vehicles.

J.R. Rotchford:
Come on, Anthony. No. And also, they're crashing tonight. Food, food processing plants are having trouble again. There's just all this weirdness and, I don't know, coincidence? I don't know. You know, when I was in the military, we did training for NBC nuclear, biological, chemical warfare. It's mean. And that was I don't know how many years ago. It was a long time ago. Maybe that's what this country is heading for. I don't know. It just seems weird, you know, it's too much. And then these balloons and UFOs, you know, I want people to look at the debt. I want them to look at the deficits, all the financial stuff. And here we are looking for aliens. What if these UFOs, all land? Is it going to be like Independence Day? Is Will Smith going to save us? I can't wait for the first alien to step out and say, Take me to your leader. Who are they going to take him to? I mean, you know, who's who's leading the country right now? Yeah.

Anthony Carrao:
Of the Union. You know who's who's leading the way.

J.R. Rotchford:
Yeah. Bernie with his little mask on his mittens and his folding chair.

Producer:
The aliens are going to say, Take me to your leader. They're going to look at our leaders across both aisles and just say, never mind.

Anthony Carrao:
Yeah, no, I'm out.

Anthony Carrao:
No, we're looking for intelligent life forms. This is what we found. We're out.

Producer:
We're go. I'm going to get back in my ship. Thank you, guys. Take care.

J.R. Rotchford:
Don't forget, on C-SPAN or one of those things a couple of years ago, you know, there were congressional hearings on UFOs. And I don't know. I mean, this this is crazyville. You know what? My whole thing. Boil it down to what you can control. Anthony, you said that forever. Like you're too worried about stuff. No, I'm not. I've. I've put everything in the proper places that I can so I don't have to be worried. I have insurance. You know, your mom and I, we still have long term care insurance, so you don't have to take care of us. Thank you very much. You should be paying the premiums. Actually, you should. We need to turn the premiums over to you so you don't have to give us a bath Later, Anthony, I'm going to drop. I'm dropping my insurance just so you have to take me. Give me a bag. I'm going to get you back.

Anthony Carrao:
So I'm only related.

Anthony Carrao:
To you by marriage and after the divorce, I don't have to deal with you anymore.

Anthony Carrao:
I've been in your.

J.R. Rotchford:
Life since you were 11 years old. You're pretty much fused at this point, you know? I mean, and you've always said during the divorce you're going to stay with me, not your mom, anyway, so. Yeah.

Anthony Carrao:
Sorry, Mom.

J.R. Rotchford:
So shifting gears to deal with what you can. I mean, you know, yesterday we were with a group of people. Once a month we do a men's happy hour. We do a networking group. It's called West Valley Men's Networking and shout out to thrown. We had a good time again at thrown a little little bar and grill. Good food, good beer. It's a brewery brewery I don't know these young kid terms anyway. So if you're a professional and you're a man, we're very sexist at Rotchford Associates. You have to be a man. Reach out to us. You know, we want to grow this thing. We pride ourselves on having friends and clients of every industry, every walk of life. If you need somebody that you know, if you have termites or a bug problem, we've got a friend at Orkin, You know, if you if you need an attorney, we've got a next door neighbor at our office that does good work. I mean, we have all these different people that we can send you to, so. But, you know, how do you better your situation if you're a mortgage person, a realtor? I know things are different than they were a year ago. Join us once a month, come out and network with us. You know, try to work on your business when you go to your personal finances. It's so simple. We can't we can't stop a train from derailing a balloon from being shot down. We can pay down debt. We can buy hard assets. We can make sure.

Anthony Carrao:
That.

J.R. Rotchford:
Thrown we can have beers at thrown. Absolutely. Yeah.

Anthony Carrao:
So real quick on that. Yeah. If you're a small business owner, if you want to join, it's the second Tuesday every month, 4:00 pm. We were rotating places, but we really like the thrown on 67th. If you are interested, reach out to us at team at AnotherMoneyShow.com we'll get you the details. And we did. It's funny that it became. The men's networking group because the first people that put it on were women that we work closely with. And like you, men never organize anything. So that was Sylvia Butler, Hospice of the West. Shout out to Sylvia and diva Gibbons, who is, you know, in Washington now. We miss her a lot, but. Yeah. I mean, that's when actually I invited Emily to Emily. Journey was supposed to come out, but she was coming out from Gilbert. So we call it a men's networking group, but it's really not. It's just an excuse for a happy hour. Um, but that's it for this segment. Reach out to us team at AnotherMoneyShow.com. Check us out at team or not team. Just AnotherMoneyShow.com. That's where you can find us. And we'll be right back.

Producer:
Remember all of J.R. and Anthony's listeners receive a free financial consultation just for listening to the show. Visit AnotherMoneyShow.com to learn more and schedule an appointment. Thanks for listening to Another Money Show and subscribing wherever you listen to podcasts.

On a holiday. You can't find the words to say.

Producer:
You're listening to Another Money Show.

J.R. Rotchford:
Welcome back to Another Money Show. Thank you so much for being with us. We really we appreciate the questions we're getting. Thank you for letting people know about us. I mean, the word's getting out. We've been on here for, what, almost ten months now? So I think we're finally.

Anthony Carrao:
In a long time.

Anthony Carrao:
No repeat episodes either.

J.R. Rotchford:
We are. Yeah, I mean, we're listening to the other shows in our in our little network. And a lot of the radio show hosts are there doing reruns. We are not. We have so much to say, though. You know, we.

Anthony Carrao:
Talked about having a.

Anthony Carrao:
Rerun today and then we're like, Yeah, well.

Anthony Carrao:
We'll come back.

J.R. Rotchford:
It's not going to happen when I'm dead. You can, as soon as I get nitric acid out of here, then you can do reruns all you want.

Anthony Carrao:
Maybe next week.

Anthony Carrao:
Next week we'll just be a rerun about this show. Dj's last show. It'll be Jerry's last show on repeat.

J.R. Rotchford:
And actually, it didn't. Wasn't it two shows ago had a couple of strokes and heart attacks. This is me as a ghost, I think.

Anthony Carrao:
Declared you dead a couple of shows ago, too. I mean, you're pretty close. You're getting all fiery. Or is that getting fiery? Don't remember. Did I have the heart attack? Was I the one that passed?

J.R. Rotchford:
I'm very much like Patrick Swayze. I mean, I look a lot like him. I'm. I'm a ghost. So, you know, I want to tie up something. You know, when you think about balloons and spaceships and acid and all this stuff, you know, if you're watching CBS, NBC, ABC, shout out to those people, but you're not going to like the shout out. You're not getting any of this. If you're watching some of the more obscure things, I guess it's Tucker Carlson that's really concerned about Ohio and really, you know, kind of saying, wait, wait, something's wrong, You know, go further. It used to be where if you started going to YouTube and Rumble and some of these channels, well, that meant you were a conspiracy theorist. Well, good. You better start waking up. You know, some of the people to watch, watch for, look for a guy named Patrick Humphrey. Look at something called Goshen Prepper, Alaska Prepper. There's. There's all these people. They. They come and there's there's some really good financial ones to reach out to us. And we'll give you some names of people to look into. It's they keep up with all this stuff and they're giving you good information, whether you research it or not, You know, it's up to you. It will help you not be surprised. You know, the whole theme of our show has always been we want you prepared, not scared. So if you look at some of the stuff and you think it's crazy, if you think it's too tinfoil hat, then okay. It's interesting. You know, it's it's interesting.

Anthony Carrao:
Back up a.

Anthony Carrao:
Lot of the stuff that we we bring up I mean some of it is, you know, just kind of our theories. But a lot of stuff when we're talking about everybody being broke, Social Security, FDIC, those things, I mean, we have their documents to prove all of this stuff that we we talk about on the show.

J.R. Rotchford:
I started talking about the banks. I started talking about balance in 2014. I started talking louder in 2017 when I actually had in my hand from my credit union a thing that basically showed me I could I could not get access to my money. And it's it's funny because everybody thought that's too much. I'm always worried a little bit crazy. And now last November, the FDIC had a meeting and they basically said, we have to figure out how to tell people or if we're going to tell people or when we're going to tell. People took 3.5 hours, 3.5 hour meeting to tell, you know, to say, what are we going to do? You know, I keep saying to people, make sure you research. It's been almost a year now. Executive order 14067. Pay special attention to Section four. Nothing's gone away. I still firmly believe we're going to have a snag in the stock market. We're going to have a snag in the housing market, and we are going to have a bank bailing and then a digital currency. I don't see the.

Anthony Carrao:
The bank.

Anthony Carrao:
Bail in Credit Suisse is in the news again. I guess their financial reports look as bad as they did in 2008. I mean, they've been talking about this bank for the last year. It's one of the bigger banks in Switzerland. But they're saying they're not getting the deposits. People are taking their money elsewhere. They're not doing well. So when it does come to the next potential bail in or bail out or bank failure, that's one to watch pretty closely. I mean, they've got trillions in assets. So it's this isn't a community bank. If this does finally go completely under, this one's going to be a there's going to be an impact there. But at least there should be there should be an impact in a lot of the things that we're watching. But, you know, up is down. Left is right. Nothing. Nothing makes sense.

J.R. Rotchford:
Well. And I have a feeling that one day it will. I don't think we're far off from things changing. It feels to me the last couple of years it felt to me like the quiet before the storm. Nothing happens fast. I mean, you know, how do people go broke? Well, real, real slow. And then all of a sudden, you know, I mean, I was talking about Deutsche Bank five years ago, 2017, the banks in Ireland, Italy, Brazil, Argentina, Venezuela, we have a global problem on our hands with debts and deficits and banks and solvency. This this is you know, this is life changing stuff. That's it's around the world. And this country is worried about the waste. I'm sorry, the W-M open, the Super Bowl, Barrett Jackson, all this stuff. It's like, I don't know. I mean, I'm not sure when things change. I'm not sure how bad it gets, but I think we're not going to stay on this course for too long. So with that said, with that happy news, why don't we take a break? When we come back, you know, you mentioned the ten pillars. Let's talk a little bit about that and let's talk about some solutions for people that are worried about the world and what to do with their personal finances. We're going to talk about guarantees. So reach out to us team at AnotherMoneyShow.com or give us a call. (623) 523-0444. And we will be right back.

Producer:
Thanks for listening to Another Money Show visit AnotherMoneyShow.com to schedule your free consultation with J.R. and Anthony. Another Money Show will be back in just a moment.

Producer:
You're listening to Another Money Show. To learn more and contact J.R. and Anthony visit AnotherMoneyShow.com .

J.R. Rotchford:
Show.com, welcome back to Another Money Show. As always. We are so glad you're here. So during the break, like i don't have enough to worry about. During the break Jim sends an article and goes and it talks about how just yesterday or earlier this morning or overnight or who the heck knows. Apparently two American murka, two American F-16s intercepted four Russian jets, one being a bomber. So first of all, when you're in the military, there's something called need to know basis. Why do we have a need to know these things? Are they just I mean, are they bracing us for something or is it I mean, why do we have access to that article? This is something that should be taken care of behind the scenes If we're about to go into World War three because a balloon flies over with an EMP or a biological chemical payload, I don't know. I mean, should we know? What are we going do about it? You know, are you going to buy a HEPA filter for your house and stay inside within a mile of the new guy? All this stuff is confusing. Makes me think when I try and this is all just right from the break. I mean, what it makes me think the old sales thing, if I put together ten brilliant financial plans for somebody, they're not going to pick one. Not because they're not all brilliant people don't want to make a mistake. If you give them three brilliant financial plans, they can take out two and go with one. It's easier not to make a mistake if I have to worry about aliens and and muriatic acid from a pool company spilling by my backyard.

J.R. Rotchford:
If I have to worry about ten different things, you know what I'm going to do? I'm going to change the channel. I'm not even going to worry about one. You know what? The Russian jets I don't know. I mean, we'll see if it grows legs. It's just it's adding another thing to watch. And I appreciate that. I'm just not sure why and why right now. Bottom line, if you are concerned with all the things you're seeing, if you're seeing anything, I mean, I think most people are still watching the masked singer and Dancing with the Stars. They're just not awake. But if you're listening to us or if you are familiar with some of the YouTube stars I told you about, then there's a lot on your plate. There's a lot to watch. You know what is good about what Anthony and I do? We give you peace of mind with your financial matters. Our whole thing that when Anthony talks about a foundation or a base, we want you to have guarantees, Anthony said. This is probably six months ago, but I really keyed into it. He said, You know, stock market crashes, whatever plane hits a building, he doesn't have to worry because he's got his base, he's got his foundation. Anthony has life insurance. Anthony has fixed insurance products. He doesn't have to worry about market volatility. He does have some play money. He has some. I don't want to go too personal, but he has some pot stocks, I've noticed. And Anthony doesn't even smoke pot. I mean, you would think he does. Obviously, he drinks, but he doesn't.

Anthony Carrao:
Yeah, not during this show.

J.R. Rotchford:
I mean, it's funny because all the stuff we talk about, we all we talk about is what we're seeing each week. You know, we're just bringing to you stuff you may or may not have seen. As Anthony says, you may or may not have heard on those other financial shows. By the way, you know, call us in the next 30 minutes in our consultation is free and you have to have at least $500 million to see us. But other than that, you know, we we feel like financial planning is meant for everybody. We actually think people that don't have a lot of money might need us more than those of you that do. So we try to help people.

Anthony Carrao:
But and if you do have.

Anthony Carrao:
Money, we help you keep that. That's our biggest thing. I say that all the time is protection is number one in our office. Keep what you have you earned, especially get into retirement. I mean, now's not the time to be taking risks when what you have is what you have to last you the rest of your life. Unless you tell me when you're going to pass away. And then I'll tell you exactly how to spend your money.

Anthony Carrao:
Yep.

J.R. Rotchford:
That's the old life insurance thing. What kind should I have term? Should I have whole life? Should I have universal?

Anthony Carrao:
I want to go back to my personal.

Anthony Carrao:
Situation, though, since you brought that up, because I do have some money in the stock market and a lot of that is because I can't have more money in fixed indexed annuities. If I was closer because anything you put into annuities really kind of meant for 59.5, even if it's non-qualified money, even if it's not technically retirement money, like in an IRA, the way annuities are made are mostly for you to be over 59.5. But as I get closer to that age, why would I gamble in the stock market when right now I could make up to 10% If the market goes up without the downside risk, if it goes, you know, 20, 30, 40% down. And if it does, you don't lose anything in the next year when it starts coming back, I get those gains again. So as of now, in my personal situation, because I still need access to that money, I don't know if I'm going to make it another 30 years. I do have some money in the market, but what I'm doing is the same thing I'm telling my clients to do is have cash for opportunities and. When stocks go down, you buy more. You don't sell like the weed stocks. I mean, we've been following that for a long time. I think that's going to be a huge market. I think that's going to be just as big, if not bigger than booze when it becomes fully legal at a federal level. So a lot of the stuff has been speculation.

Anthony Carrao:
You know, when pot went fully legal in Canada, the stock prices plummeted. Now, explain that to me again. We said we said there's no justification for what the market does. And that's another great example, because if anything, it's federally legal now in Canada. They can expand their business. This should be better for a company. Yet the prices of the stocks themselves dropped. It makes no sense. So since we've been kind of cost averaging ourselves into this, I'd be honest, some of the pot stocks that I've got down 70, 80, 90%. Do I get rid of them, though? No. I have bought more since that happened. And if they continue to drop, I will continue to buy more because this isn't I'm not spending tens of thousands of dollars on this. It's a few hundred bucks, a couple thousand here and there. It's small. It's gambling money. You have to accept the market as gambling money. So the account I have, if it goes to zero, which, you know, that would mean all the individual stocks. I wouldn't all everything collapses. That's not going to happen. But if it does, that's money I can afford to lose. That's not going to affect my retirement, my financial outlook for me and a personal level. And that's what I want our clients to be approaching with, too. You can take risks on money and if you lose it, I don't want that to throw off your whole picture. Build that foundation and then you can take risks.

J.R. Rotchford:
So it sounds like you are preaching diversification. And, you know, the Wayne Gretzky thing, don't go where the puck is. Go where the puck is going to be. You know, obviously, marijuana, you know, it's too busy in the world right now to get to it. But one day it will be federally legal in this country, you know, not because of compassion reasons, not because of glaucoma or cancer. It's money. You know, they see people in Colorado with bags of cash and they know that there's a revenue stream there. So they'll get there.

Anthony Carrao:
And let's talk about that, too, because, I.

Anthony Carrao:
Mean, Right. We talk about looking to the future. Remember when gas went to negative a barrel when everybody was selling and the oil and fuel stocks plummeted? That's when I bought. That's the smartest time to buy. Where is fuel going? Where is oil going? Like, we're not going to ev overnight and there's oil and pretty much everything we build at this point. So where is it going? So the fact that it plummeted. That. Why not buy you Buy low, Sell high? We say that all the time and people are really, really bad at that. When Boeing had 737 seconds falling out of sky and that plummeted overnight. Boeing has billions, if not trillions of dollars in contracts through the government and government contracts last decades. You know, they have money coming in. Boeing's not going anywhere overnight. So, again, you have to think long term when it comes to stocks or, you know, just buy cryptocurrencies by.

J.R. Rotchford:
Is still for sale because I'd like to get pick up a little bit of that.

Anthony Carrao:
Well, I mean.

Anthony Carrao:
Once they get all their political contributions back, I'm pretty sure they're going to be a thriving business once more. They'll be a thriving Ponzi scheme again. Don't you worry about that.

J.R. Rotchford:
Hey, I saved all my Beanie Babies. I know Bell bottoms and parachute pants are coming back. I'm no dummy.

Anthony Carrao:
Right.

Anthony Carrao:
Retro things. Everything cycles. Everything comes back. Save those Beanie Babies.

J.R. Rotchford:
That's true. We'll look at you with albums. Look at you with records. Oh, yeah, all my records. So back to guarantees. Our whole thing. We've got solutions. We. We only have a limited time each weekend here, so we give you the problems. We want you to be aware of things. You know, when I talk about going to alternative news, there's a reason. You know, one of our ten pillars is social media. And people are like, Well, how on earth does social media tie into finances? Well, let me give you a couple ways. One, Facebook meet or whatever it is, which I think is a baloney stock. I always have. Even when it came out at $36. It's funny. I mean, it tanked, I don't know, a month ago, six weeks ago. And I was like, it's not going anywhere. Too many people rely on it. Too many people are using it. It's not going anywhere. So now it's come back in a vengeance. Over the last month, people made a whole bunch of money. Whether the stocks legitimate or not, they made a whole bunch of money. But here's another reason that social media is important to your finances. If you cannot hear much about train derailments and truck tippings and all this stuff on the mainstream media, go on to Facebook. It's it's weird. Facebook is a very much of a it's a good barometer of what people are thinking and seeing. You know, people used to make fun of memes years ago. Memes are great. I mean, it kind of shows you what what people are. It gives you the news, it gives you stuff that you can take the meme, look at it, and then you can go do an Internet search and find out what that means. Talking about. So in a sick, weird way, Facebook is really, really helping us. It's also a train wreck. I mean, you know, stalking your girlfriend from 40 years ago. Not a good idea. Anthony, how old are you? How old are you? 40 years ago.

Anthony Carrao:
Think was.

J.R. Rotchford:
Browser history. Yeah.

Anthony Carrao:
Back then.

J.R. Rotchford:
Right. So I don't know if that means but we're moving for Jim says something rude. So basically back to the finances. You threw me off completely on that one. $10. You know, the ten pillars everyone has to do with your money, whether they seem like or not. Even social media, you know, right now is a really, really good time to do a few things, get your financial affairs in order. You know, some of it you should have always done with or without things being weird, you know, paying down debt, you know, understanding your risk tolerance, your fees. You know, one good thing about financial advisors, you know, hopefully they're doing what's right for you. They can help you figure out your risk tolerance. You know, we have all these little these little quizzes, ten questions about your time horizon, your risk tolerance. You know, what they're really good for. And yes, a lot of advisors use them just to to get sales. I get that. But you know what? They're good for it. They're good for conversation starters. They're good to dig into what you think about money. They're good to help you get some education about money. You know, what is what is my risk tolerance as a as a mainstream person? I want 10% return year in, year out with no risk. Yeah, well, don't we all so. And by the way, if you want ten. No, I shouldn't make jokes.

J.R. Rotchford:
I was going to say, you know, give us a call (623) 523-0444 and we'll put guarantees for you. Never in writing, obviously. So, you know, people want good returns without risk. And, you know, the last 15 years, a lot of times we've gotten it. So people have gotten a little bit complacent. They've got a little bit spoiled over the years with their finances. We when things are unchartered, when things are uncertain, you need to have a good working knowledge, at least of your money. You might not need to know in depth what's going on with, you know, 12 B1 fees and fund managers. But you should at least know what you have and why and whether it's appropriate. You know, 2020. Listen to all the advisors out there, you know, buy the dips. I keep shouting from the rooftops, When are the same advisors going to say, sell the peaks? You know, when when things are going up, sell lock in some of your gains, turn it into real money, pay down debt with it. You know we had a we've got a friend that that actually did do the cryptocurrency beautifully you know ran up he bought bitcoin it ran up to like 60,000 or some ridiculous thing a coin he pulled money out, put a bunch of money for taxes and bought his wife a vehicle. So well done anyway, you know.

Anthony Carrao:
Fake into.

Anthony Carrao:
Something.

Anthony Carrao:
Real.

Anthony Carrao:
Yes, something tangible. But that is it for today's show. If you like what you heard, you have questions about any of the topics you heard today. If you want to sit down with us at Rotchford Associates to review your personal financial situation, you can reach out to us at team at AnotherMoneyShow.com. Find us on the web. At AnotherMoneyShow.com. You can also listen to more of our beautiful voices of Another Money Show wherever you like and subscribe to podcasts. Listen to past episodes. Remember at our office there are no minimums. There's no cost for appointments. There's nothing to lose by getting a second opinion on your financial situation. So until then, we will see you again next Saturday at noon, right here on 960 The Patriot.

Producer:
Thanks for listening to Another Money Show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation, visit AnotherMoneyShow.com.

Producer:
Investment Advisory Services offered through Brookstone Capital Management, LLC BCM a registered investment advisor. Bcm and Rotchford Financial are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results.

Producer:
Are you concerned about market volatility, rising taxes from the Biden administration and how it could affect your retirement? Then listen to Another Money Show with J.R. Rotchford and Anthony Carrao. Learn how you can reduce the taxes you pay before and during retirement. Another Money Show every Saturday at 4:00 pm on 960 The Patriot. Schedule your free No obligation consultation now by calling (623) 523-0444. That's (623) 523-0444.

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