7/21 The Financial Guys


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

The following is paid programming. Security suffered repeat brokerage LLC member Finneran SIPC investment advisory services offered through independent solutions wealth management the financial guys an independent solutions are not an affiliate depict brokerage services LLC the political views and should not reflect the views of peak reports the show was not intended to provide specific legal tax investment or other professional advice please consult a professional for your specific situation this radio shows for informational purposes only and is not intended to solicit or recommend any particular security information discusses obtained from sources believed to be reliable but its accuracy and completeness or not guaranteed. It's time to talk money. I'll go back go about. It's the financial guys radio program. It's Glenn waigel all my god. And Mike Lomas. Oh why she'll walk get bad. Outlook bat to reach Glenn might now call 8030930. Pull free 180616. WPA and himself calls are free and started 930. Now live from the WB EM studio. It's you is glad dwindled and might be moments. Already welcome back and puppies I don't know we're going to happen next and moments because I own science and Olivia alone as though my goodness I ice at the start corrective guess the obvious even videos hold areas areas areas great for new problems. This is Mike neatly into Boren by the way if you like to reach Glenn and Mike right now. Get your pencil and a TV gland cell phone number of ready. Who The Who Clancy between cats here's Michael what was Mitt. I'm shooting something when are you practice shooting. Well well deserved day off for Glenn and Mike. They were instrumental in running. National conference that we had down at the depth buffalo Mary Harvard and a great place to great place that you I'd ever and narrated. Honestly I felt so good about buffalo. When I walked in Paris and I don't feel like I'm in buffalo is annually. Now we have the wound like gas like some from Toledo Ohio some from Florida Long Island in east Texas lots of states were covered and everybody says a cool place and we are able literally just watch some hockey practices going on and I went over you know one already and a couple of copies in women's prison hockey outside the hotel really people really amazing things who. I think that was a poor gruel practically so Garcia I get money coming into our area vital. To thank mayor Byron brown. For sting out of the way through some of this stuff could be could actually be done also like to think Brian Higgins because he was instrumental in cutting the ribbon. Asking us to he showed up after everything was done. Cut their revenge shook some hands like here's something new and likely they can't stand the way it's the best thing that's where buffalo growing. And that's and that's O pride and investments that door and that's right out of relentless do we do well. I'm yet great event great and the fact lot of fun Jay Blanchard he would finish his right for windows just about a week ago I think finished. I'm Jay is back in amazing amazing. What's needed 4200 miles from. Oregon all the way to Virginia. Beach basically. I stopped and talked and talked to Jay yesterday and I sent while do you look at me and he lost I think ten pounds he said on this right. And I said that in those accountable who said no I've got more to lose oh I still have you know like 3% body fat. Don't like you're here JM don't have pleased he did it. Great job we're so proud of them and not actually his son his son Gabriel was actually at the rinks right practice as there is there at that did a longer day for us. And here is and some developmental camp and I that I don't want to jinx it but any child found possibly going to be wonderful great hockey player game plan local kid from buffalo really cool I'm. David Bell Vienna gave kind of nice. He was a keynote speaker and fantastic job home. Actually a story acted so I can listen to David that I do listen and played out if I don't have appointments and in my car throughout the week listening to him in and hourly. Great great gas straight events. Again led by Mike in clan here so last. My job and I actually you know we showed that we in the the 21 and they kind of forgotten when they didn't he review and that they said. It's awesome that's awesome Hillier is out there burned out and flat and so he just finished yesterday Sonoma and at the had the first kind of initial large meeting at the new office building. Yeah Elop as I hate this you know latency anything much on the air because we're not there yet there yet. Don't don't if you are clients or prospective client thinking you're coming to see us don't worry we're still at 6631 main street. I'm in the back rate of the parking lot there as we've banned but I'm yet new office that merely open I guess that's open at but it's getting renovated so. We are able to show some of our am extended partners that building in that we're pretty proud of that too so. I'm here we are Mike Mike haight flicked off Bora with you today the financial guys if you want to reach us throughout this whole show. Now we're here till 3 o'clock don't lead to the end of the show 8030930s. Are 930 from yourself if you are calling from out of the area when he hunter. 616936. And if you have anything to talk about with what's going on the news you know with that trump rusher probe here you know you're any of that stuff. Give us a call now because a second half the show we're gonna talk a little bit more about money and some things like patents are now would be the time who won who gives call. Most you have probably himself on a beautiful day driving around may be a topic goes down stern and thirty himself on the can reach us and I chime in on anything going continent not a real active Newsweek. So much I know I'm head and one of the things that I do is I I edit in fact we have it. A one entire chartered financial analyst wealth managers investment portfolio manners who root John third calling him a little bit later. And whenever I wanna know like hey what's gonna you know it's well the economy because love. And you could fill in the blank because of ten trade ties with China interest trailers interest rates earnings reports and even gonna. John usually has a really really get some thoughts on. I think we're still in what's public consolidation of the markets since January 26 and here we are I'm almost son now six months later we're and is trading sideways. Yeah it's been spent and and we had done I received an ice peak in January but. You know came down with will be can considered a correction now we're kind of leveling out you know the I doubt about 25. So yeah I'm we don't mind we don't mind the volatility we like to take advantage within the models and strategies that we employ. Science and investment firm sideways is okay you know you can take advantage of the little dips along the way in trying to rebalance. On how would be a great time. You see a financial professionally can call our office or if it's something you do yourself. That's probably contending that. Dan in a Neil you try not to just make changes without really understanding what you're trying to do you know have an objective trying to. Come up with a plan you know the old adage of you know failed plan planned found it really does apply any you might get lucky. And end up where he wanted to be retire at exactly the moment you hopes to. But with some planning you can really increase the probability of that success. I'll I'll listen to some of the shows throughout the week frank and you know there are some national shows. And one of the pet peeves I have is when they they say you know what let's take a portfolio let's just improve it or let's let's analyze that. And you never hear them talk anything about well this is the attitude of this investor this is there. You know what's this what's the goal it's what's this money for a team trying to accomplish. That's real financial planning is as opposed to. My portfolio spanning Europe are absolutely and that's not we're not in the business try to eat the people next to us or cross the street from us or in this city that. Will we often fuels they'll take people through homework we have to identify what do you need that's expenses. But jitters were gonna tell you mind your own Friday's you know some favorite restaurant many cups of Starbucks can do that I am now if we do that we do need to know what your goals. And down before chided to tweak your portfolio Inge and you tried it again sensors stocks and so. Really come up with what your objectives will be trying to do. And where you try to go and at what point and so are we take out the week yes 631515. If you wanna go through. A portfolio analysis with us go through our homework process. On edge just you know. And Africa during the week we have another Japanese management. So we take quick break in we get back we had a couple callers lined operating we'll get to those who talk a little bit I think about. What we're spending on this Russian witch hunt. As trump calls it yeah twenty million dollars to. LA or gas so if you listen to the financial guys Mike K click death for an here in today for Mike Lomas and Oakland wiggle. Don't turn that dial would be break back here on news radio 930 W via. My feel like and needed treatment alliance for the big umbrella I can make frank shabby easing in the song lesson here. Eclectic mix of songs today but it was as every time before I went to the break him for we talked to a couple collars. We've. I believe past twenty million dollars. In the coral. Russia and her interference in the election. What's c'mon insofar as we've indicted twelve rations OK we're gonna do now. No Americans. And we found out that the act in probably ran and got some information out people's computers but no evidence that that information was used. Do anything with rigor to the election trump was involved Obama did know about it. Which is really huge thing. Did nothing or turn is back and it's no sir. But you think about a waste of taxpayer money and just continues and continues. And Rudy Giuliani just send an office to decide between. You know let's let's stop this you know let's just say president trump had nothing to do with this. And of course the liberals are out there saying well you know here closed her meeting with Putin was probably how're we gonna conference this. In the west bank and the interpreters very well of course is they're gonna really interpret as I am waiting room. You know so here's Muller's office in about a a month and a half ago said there are well within the approved budget I'm thinking in the same article here that says and it's an honor political arsenal. It says it's an open and did I. Investigation so it's really about. You know they spend money our taxpayer money like like it's you and I wanted to Morton's for a cough up the when you think about what some of this money could be that's just the total waste you know through a couple months say they had. Half a million dollars in travel season where these people going. Had no idea and it doesn't seem like it's coming to and here and and we'll see I councils the writing com Mike analysts say a couple calls via peach from Ontario and Joseph is on taxes don't go anywhere with it here. Pete. Hey. Oh yeah yep I'll keep. There. It. There. Oh. Well. Yeah. Oh. And you. All. You. Agreed. Old paper with poor or back. And say you're walked up. Yeah your sentence saying and he got there. I bakery. I mean there's always talk of why isn't he doing this and why is the allowing. And I really don't know that yet I'm I'm I'm actually. I'm intrigued by it because. I think our president is very strategic. He's very astute at these types of things he could've fired on time ago and yeah. You're. With god. Automatically brought road and eat crow yeah Wright is now. Jeff Sessions because he was EB fused themselves out exactly. There's no question. There's no way that we get. Get another ten. Congressional seats that are that are anything going and conservative. And and we get thirteen eastern nine whatever to make it to Jordan. And see. And the great part in there and people that are. Critical. It. Off its right. All. It. There has never seen for how law. Help. You are where I'd like to go yet. It's like an alternate reality at times I'm listening in and hearing all of the different facts and they. The yen gosh that did to add the and evidence they've got. And then it never leaves any thing you know it goes this seems like we have but that's okay. You know I just think about this great piece we as Americans citizens are you know you often Ontario. We only hear the tip of the iceberg could you imagine. The data the evidence that things that are really out there that are not disclose the public share. EU. And that it did. Years and senators are owned all of Latin blocks ego. I you know he docked here probably August 11 years ago now. Families here on and so forth by spot I'd I'd be lack connection right. IE. I work all our men. Opera is my last year there I would commute Ortiz week. You know go on my heart and soul. Actually. Being you know being you know jump on my little late in and cruising by. On all. They agree. Great country in my heart and you know. Well it Andean. And and you know oil on top Russian and you know what in on his show looked to begin in a couple of times that you know in my art. There's so many people out here that are an opponent. You. There are. Our. Airport is all coming. You know well. If your paper is. What. People adhering to it and know. You've got to go here. You gotta lean what's going on. It's not political. All right. And here here in buffalo if you're only news source was the Buffalo News. You you wouldn't get any of the facts as it's such a left leaning liberal paper. The only thing they posted his anti trump anti trump editorials. In we have no new. Usually sees from other's arms attack the border in fact here's a tax to did he might like this. How about the money being spent three unite those family stopped at the border because there is no plan who never should have been separated in the first place how about they shouldn't ever crossed over our border in the first place. If they're literally refugees they had there's a process of coming here for safety they should not be crossing our border illegally. At the risk of children being separated from their parent because none is a lot mom and dad broke the law that's enforcement of the law and not allow that trump would in debt that a lot of trauma doesn't force thing. You can't Reuters yesterday combo with that means things Americans are worried about. That didn't even paying. Out a percentage point are people carrying. Up out about dot part of it you know what I mean like the rock investigation was almost nothing you down. A lot of Americans truly terrible hit and stuff like that. But I American they're not worried about. How about immigration anybody did and he is worried about how that immigration. Is. It is doing what they're all and and and have any common sense. Big no no ought. I trump saying that all 7000 individual children. I 7000 are split from their parents in the prime Barack Obama wouldn't charge yet so a lot of those in these people know that lets just hope. That we need no. That bears all the conservative people out there are they don't even know the word conservative is what they are they're just good Americans. They get out there that bit of the pac ten month guys. It's the biggest mid terms in not only modern history it is a big goal along the lines of the civil war like it really is not. It really is and I am actually waiting to see what the Democrats. You know what's their stance when it Iran analysts are Platt. Form because they have no leadership position right now they jumped literally they jump it's almost like him what's the game Horry hit that had those things that come through all the welcome to lag like a lack them all and then the ball comes up they try to whack at it gets underneath again and another hole here comes and they try to whack that they don't have really any consistency in their message. And I am honestly I just can't for the life of me think how they could turn the congress in their favor just cannot imagine. And he got picked they picked it up to rule in 27 feet. They opt out that when that he'd knocked out and let's just hope what we see now is working to you Ryan on his way out wouldn't midget. You know I see he can work without work or keep them he's keeping those guys around all of August. Good to push through more like judges and public got a party guy you got it it is the next month in the motor that the issue and offered ought. We're we're at eight it's smaller guys being exposed. To let it not even a lap or lap. Know it well I don't you leaders struck saying there's no there there cutie stopper he accepted jaw. In the smaller crowd I think he exposure. But he's been. I democratic. Our lawyers that are out prosecutors that are working yeah. It's a bit of a grateful like. Alternate reality. But it doesn't make any. And that her truck eventually you're gonna pop up that documents released. At what went out these hot and cold but he made another comment the other or you look guilty you know you know. It's absolutely. Ridiculous but you got got one thing they're being whipped up that. Mean this man beat our record out of the worst that your general. You gonna go down as the most. Question about what rob did was actually operate you know of being mocked yeah and it and do not thing. No doubt right I think no doubt Pete thanks for the college I know organ and a hearing a lot more on that and it could just be another several months and before we we actually see this all. Hopefully it closed and people come and focus on more like the economy but a print we're gonna take a quick break here in just a moment if you need us are out the week 6331515. You can like us on FaceBook follow us on Twitter at the end guys. What we do help people manage money throughout the week that's how we make a live and I would like to the show here this is Mike it click. Just four on in today for Mike moments England legal. But we are the financial guys will be right back after this quick break here on news radio 930 W media. New Orleans music. Two Wayne topsy. The net and passed away in Nazi in the hell raisers. You think you're gonna end up there someday like to live in New Orleans how amounted that in July and August as we are going to. You know this this kind of reminds me of norms weather and in many. Hunt in the ground there in July and are easy you physically melt. Is he a place up here say they currently are that have some family appeared to stay with. This is my case flicked off for the financial guys radio show here on Saturdays and a three every Saturday. In fact now if you haven't seen it already. That channel sound then Saturdays 9 AM money talks. Fourth week and I actually hosted. Have a friend John that are momentarily. And it was great a lot of fun with the Pellegrino. Local legend unbelievable. Perot I. Honestly and I met a few of these personalities here last year and all the other one batter. I do that I did account is planning session with the right Linda was. Phenomenal what a professional just just. Makes it so easy so were we feel so welcome over there at channel seven so thankful to them but if you wanna tune into that or. Or you can now DVR it it's Saturdays 9 AM. It's right after Good Morning America and right before Linda Pellegrino in buffalo weekend show. I'm so so happy to do that on folks we got a great team of professionals in our office the financial guys offices. Just focuses on college planning for Imus firing college bound students and their families and parents. I hope people with Social Security claiming strategies. We also have a 401K. Division and so few. Your ears you're a business owner out there and you're not sure how your for a when he is serving your own employees and how it's serving you as the end of the business owner. Have one of our folks actually talked to you about 41 K plans and how they're not all the same and there are some fees that you may not be aware of. And some liability fearing employer no question I. And your plan is not separated or you're not doing proper steps to manage their plan so Lou Ewing is the employer has some liabilities now no doubt you can't just. A long time I have a plan in the and so isn't that enough no it's not enough it's got to be a well run plan it has to have a enough investment options and so we're at. We have one of our partners here Scott tanker here I'm does pull Scott in. Let's here we go. Scottie either. I am very well he's that's just climbed higher ground. I'm doing great it looks like we have some net where they're down here early exit. Wept during. Oh boy has turned its darker here than most states have to and I think we got some storms come into. Also to keep tells a little bit about what you just fine what you've you've you've done here for our financial guys team in terms of informing business owners. About 401K in the proper management of those plants. Well or one K plan or are normally for a plan and retirement plan you objected to attract. Reward and retain. Very few planes you can do as well or one K plan what corporations. From anywhere in two employees. Are up to whatever number employee who captain. Everybody to be putting in at least. When are they putting in deferring money out of their paycheck which is currently taxed. Are federally or not captain. Amnesty written and they detect that may not but most states don't act. But most people should be putting in the amount that is matched by the employer. So what are Serb government give you fifty cents on the dollar or 4% I mean and these employees strive very hard to put in 4% effect. Right if not you're given a free money. That's it you know it's just to benefit the employers offering any given up if you don't match her or are meet the match. Solely. Aerial in the match is that the subject to vesting schedule and the vesting schedules are typically no more than sixty. So even if the match is subject to vesting schedule. It doesn't matter just go on television as long stay there certain amount of time and you're on all of its name in the full vesting schedule which would be a Max almost. Or. Speak to the eon the regulatory environments Scott how how much think's changed over the years and and I know with president trump now in some of the deal the former initiatives that were seemingly moving along likes full speed ahead. They've kind of stopped right but but tell us a little bit about that that area of the for a one K plans and and what impact does it have on business owners. Why are the major area everybody talks about these days it has been around and find themselves or when the employee retirement income security act was. Was put into effect signed by president shortened but it's basically The Who isn't sparkle. With taking care of the investments. And to communicate those investments and the maintenance and monitoring those investments. EU and me the question had to stop and answer to a triple spirit of the law what you know that we are these issues. And complex and they tend to back off as they make a decision. My personal opinion is that I everybody who handle the duties in the seduce her maiden. Then beach act accordingly if you do the right thing its fiduciary you don't need to worry. And frankly the rules are so perpetuate that are not that difficult to the right thing should which ego is at near record keeping. Process or you need your administration organization. Yet neither archer who understand these things and make sure that he'd be. I bonuses to employees and stay out of trouble in Little Rock art people get weary at all wary this and that. The rules and aren't that many of them and actually get there. Sharpen if there's not somebody there record keeper advisor. Keeping your post on their rooms one when you need to communicate your employees. And in all the things that you need to do first reviewing the investments now that employer who can get in trouble is that correct. Absolutely and the most important thing nowadays is to hire the right people. Because if they catch you if you are the wrong people even years later they come back and if you can be paralyzed you can have to pay a tremendous amount of money cut and make up. Yep which injured actually turn it you're very very messy and today's world. Yeah our daughters looking for a course usher. And how they do things so keeping an administrator picking out Eddy of district some phone records confirm. Keeping an advisor. Uncle package make sure you're getting what you need to get her the processes sound secure and vigilance. Some in LA and on if you are a business owner you might install mufflers and breaks you might Saddam. You might do accessories for or people own landscaping company I had employees. Yeah retell them if you've likelier not for Irwin case specialists seem likely want to have that as that. As a benefit for your employees and infected take care take advantage of that yourself. By you might now be an expert in it if you need well if you wanna get in touch with Scott tanker to find any of our four hurling eight schema members. Reach us throughout the week 6331515. So business owners out there don't take it for granted that things are okay. Let's got ten acres fine letter team. Open evaluate where he ran and what you're doing and I mean we can make some improvements. Scott thanks for for pop it in on us here today on a Saturday we appreciate your time. A guy thank you so much and remember most important thing is always a plan. You guys are you guys why did you think Scott take care have a great weekend are you we know my. So right. Just run a little bit behind schedule you know we wastes Mike and I spent so much time planning this out and it never ever goes crying her eyes from one tonight. So we're out we're fortunate to have Jan third lined up in the call which one analog. Over a lot of people are asking you know to which should I be doing when it with with my investments. Was the stock market looks like what's the bond market look like we're fortunate enough to have jumper who's CC FAA which is a chartered. There's many many different definitions and Akron but we'll see turner financial lines. As John hey welcome to the show. Hey thanks for joining us again and that you know that you're so relied upon in our office you know me as a neighbor to you and our office that. We knew we really do rely on your expertise with markets economic. Indicators history and all that stuff. We still see the volatility it's now gone and about six months of volatility since the end of January. On our president doesn't seem to slow down in terms of trying to achieve his initiatives doesn't. Now a lot of ball and there were a lot of different things but I think there are good. It's history among certain. And he added that. Friday. Wore Thursday morning an interview he said that our market to be a lot higher them well you'll have a dual air. So speaking knows. It in the short run for sure but the outlook that I don't do that now. If there's going to be a lot more pain down the road we're on point getting beat up. That seems like a Smart approach to me I mean if you're healthy able bodied person. That's the time to go ahead and take care of some of the bigger projects around your house or bigger initiatives it's now when your leg is stuck in that with the flu. And he had we have agreed economies we've got lots of people back to work records in fact we go into long laundry list of things he's achieved already. That seems like an appropriate time to get kind of take care of some of these issues that have really held a spec for so many years. He giant now one of the hot topics this week was you know the Fed interest rates. What are your thoughts about where interest rates there are going how many times. The Fed I guess it's going to be two more times this year that they're likely the reason traits. That's what the market anticipating. And I think they'll definitely do those do. Because they think that. While we have low unemployment which will be inflationary and people. That company can't find worker we're gonna have to go pay up to steal them from somewhere out. And then now this thing is I think the terror. Debacle gonna let the little longer than we all hope and wit that is gonna bring an inflation. So between all of you I think that that we will continue to raise rates at least two more times this year but I don't think it will hurt the economy. I'm a better but it thank you got to compare. That on the EP. As a rich historical data that show you that but on this typically bad at or above GDP. And we're not there yet so it GDP grows and we made up 4% number this quarter meet the next few quarter. I'm not it will be going up or at all year are for two years but it or getting an average of three African girl. That body and up around two and half. That's not a prop. Sure so Jack can you carry can you stand now. I would for local do a quick break and can you take maybe a collar to if they come and then stand let us. Awesome awesome folks were the financial guys Mike haight flick in just four on in here this week for Mike Lomas Glenn waigel. And we've junk their chartered financial analyst on investment portfolio analyst. On if you like to talk to John throughout the week you can reach him at 6331515. You might have up a portfolio that you found out that you've neglected it but you've sort of let it go yet not and it's doing okay. But if you had John. Really take an advance look at you might have a really strong stock portfolio combined with a bond portfolio. That you sort of thought you did OK let's let John take it real close look at at. And you might feel fine tune this and gave you a little bit more out of that at the risk levels are willing to take on. Where to take a quick break we'll be right back here and news radio 930 WP young don't turn that dial. Not. And then some good stuff there in the details of Cyrus who were probably thinking of these songs have. That's the real estate that you are all gone. It's either your die easily the last ones you know leaving locking the door and you know turn off the lights watch it might start releasing a public service announcements about saying yeah drive if not you know please please it is suntan lotion and arsenal were behind schedule now we can't going to do no wrong when did public service announcements of my. I always talks were fortunate to have John third on joining us. So I'll be in a live line Johns error term financial analyst really it is. Green and understand the economy and helps guide our investment committee is one of the members. Into some of the different moves that we might make with purple is whether. You know John speaking of bonds. A lot of people that I talk to know casually on either clients. As saying in the G annual these bond mutual funds and they're just kind of doing well and now interest rates are gonna Courtney B two more times. You know what should I do. Been well. It's a little late you'll all along on right. Because that you'd. Write a lot. I'm now or. But like hang in there and they'll get beat up a little more on the proper. Bonds on. If they go out on the jury is. Have a duration that they don't have the maturity right now you don't know what you're. You know it back it out of fun though. They have almost like an infinite. I though Mort if I call on it almost and it right degree environment though with if we app zone on a shorter term. In nature and that there by you get her lap of the money roll up app search for the ingredient that sit at a higher rate. Thanks for one of the yen. So Jack for the listeners that they know that mean at toppling the we do every day. Can you kind of defined for them what are short term intermediate term long term bond with a quick. Sure the short term on lavatories and that'll be probably less than two years and intermediate term may have mystery in between acute. Four. And or five and the longer term on the duration longer than I. And what duration they did it take into account. When you get effective principal. Through cash flow and boom you hit a bond matures in or you're getting it's. Coupon payment every quarter. That tells you when what the duration it OK so you've got to upon it five years in maturity you know at the end of five years of its money back. If you have a portfolio. And over a period I sold aren't they're gonna mature in that portfolio at different time it into account not only. The maturity at all with how well from the hoop. He give you what the duration of the duration Ali Matt. In the security. Okay and so what will try to do we try to like blend I mean you don't have to be a full owner of just on you don't have to be a full on her to stocks and we try to blend portfolios based on people's risk tolerance. And I always say it's based upon your need for money and it's about your attitude about Rask. So this is a bit of a fine line people have to lock right now China's. Well they're the other way it it. Low income and and more portfolio have been adding. A little higher weighting it equity by adding. That pay a higher given them a lot of them are being nice it and are saying hired Leo I sure of that that's backed market had a little more. Premium feel that they mutual in this environment because there is no option to go out about because they're not paying enough. Variety that it's taking they'll. That's what our market that a little bit more premium in New York. But there are Friday in income investments you can you can get involved in them their income investment does it than just fine. And no other alternative is is just a short in bond money in your low volatility. They money. They don't wanna take a lot of risk that you found money just to pick up but you know couple percent Maury Neil right right blossoms or principles if you don't buy that stuff. Hi folks if you wanna get in touch with with John during the week in car opposites 6331515. I'm usually there in an hour. And if you have any now questions are wanna get into some of the the the in depth analysis that John does feel pretty give my child. Absolutely John thanks again man and I enjoy the rest of your weekend in 91 hour at solicit work we haven't talked about we get it it. Department on the television show button the first step out making just the people understand. There were five. I. The bite on that if you're 90%. Of the return to. I. All what would that arrow rap that you how many other back we're down that they'll back me up for. Though the market is while it helped. A lot no lot of opportunity being able litany. Incredible prices. Right now I've. I've stacks 90%. At some. And so folks the apps you need someone that really take a good look at at the types of stacked your owning the other grant growth or value oriented. I mean you're quite sure what will we turn. Give John a call 631515. And he can absolutely do create a portfolio analysis than maybe I think money. Right. I can't think slot. That directly to about it. Thanks I switch gears a little behind schedule but. What we wanna do right now is gonna switch gears and we're gonna devote part of the show. To my passion which is how is planning. And when I'm running into right now obviously and getting calls. Parents who's. Son or daughter is starting this fall and guess what happens in July and August they get the bill. It bills and it's almost it's amazing when they get these calls in the parents are surprised like. On I got to pay this bill how calm I gonna do. Yes and and I didn't work. I have to work with them prior to that and assistant call my of the blue as well I don't know which situation as a how to educate yourself into the situation. You know get. Kind of all the way down the road and then say oh now we're going to. So while we have. Kind of special show gonna bring in on the live line heir apparent. And it's gonna talk a little bit about student loans not Eric. Is taking this from a different perspective. Eric actually used to run deep collection agency that just dealt with education loans. So what I wanted to do was Eric to talk a little bit about what he saw through the years that he was collecting student loans and some of the horror stories. So that give the parents give students a forewarning of don't kid yourself in the situation so Eric Young lion. On here at an afternoon air and announce. There are right so so Eric has a little bit of expertise but unfortunately easily when the loans are going south and going into default read. So little about certain loans. Right now we have one point five trillion dollars of outstanding student loan debt. And what's scary is the default rate is going to about 1415%. Which is kind of where you come in right there. That's why I'm portrait of the guy on the other side when things don't go according to planned. Good things faster and you know good things. Don't know we have the best pal com you know things happen people situation and they do and opened a default situation to a collection. Methodology. Great knowledge it is it's. Bearing up to 15% default rates Schiavo 42. Million borrowers. At that one point five trillion that you had spoken out of four million of them are actively in default and that number grows every single day. So when it goes and to follow what and so ends up then into a collection agency which is. Where you could you comment he tell some stories that you I had witnessed or seen. Well on the federal side. Federally backed loans that are direct loans also known as Stafford loan which you would get up with the Department of Education. Which is a very traditional part won't there are other loans that people will utilize such as the gap while which was vehicle private institution with a private banks. I think your mom and dad like for example. That cover the difference between what you really need to get school. And which are able to get. A lot of people made bad decisions so as far as how what's the faith things of that nature but. I'll on your federal taxes or won't they act a little differently than your traditional loans it. You guys what people might look at that it goes automobile and critics are equally as well no statute of limitations. On the pound big government but was back walls and you can't filed bankruptcy so they're not just charitable and bankruptcy. The theory they will never go away. Ever there are a lot of programs that they offered to assist people in repayment. I'll once you you know find yourself in that situation so all hold you know lost by any means. At that point in time but he. Re default rate is very high also you're deal with a lot of government entities so once they. Qualifier for programmer to to get back on track. Alec Rupert was getting lost in the sauce is what they have been injured article two to three different servers are. After the repackage your won't. Put it back on the books available only at. As that Sally you know who two kind of treatment sometimes is a buyer of these particular type of votes. And you can buy yourself back into that scenario again on the private school inside one of the things that we feel a lot where there's some confusion and built or stories definitely. Start to get. A cumulative that the most banks won't give me eighteen or nineteen year old. A personal loan who has no you know don't know little to no history whatsoever. And so mom and dad left the common accord signed. Or grandparents. Sometimes so you if you find a lot of people and after the getting student loans in their 40s50s and sixties. Not realizing that pet owners there are so they would literally have all those difficult site for car. So you'll hear a story where. Bob a call and say this and on the the private side although there are countless laws that are government as well those are. That's why it's so those are relatively low chilly here say. I'm trying to refinance my house. But I can't because I have this debt and you know and junior. It's gonna take care of it when he's in the picture with wonder how he can talk I want elect the left alone. You know at that point it's unfortunate but it's it's there that in effect. In most cases you would. How would call the parents first before you call that the student because some are gonna have the money is paid back. He writes the real quickly about a minute and a half before heart break continue to stay am an ear just shortly thereafter the two clock rate review we've met great I'm so here's here's my side and that's how how do you students and their parents fast avoid in the support decree question for Jeff. How do parents try doable played. This shock and surprise and this man and getting like 8900 dollar a month bills like. The wind juniors only a freshman in heist in the intelligently. How'd it what's the vastly acted to help them avoid. But it may be tough thing. That's why it's that that comes in the planning process and not getting the effort on Iran it's almost like saying. I'm you know I'm gonna buy this this million dollar house. And sign all the paperwork. And then all of a sudden so I'm gonna pay for us I know I forgot about the property taxes and things like that that's all part of the planning process that we do but it's. You know I mean Erick you thought you've probably seen. You know when students earned fault they come out of school they've got a lot of debt. And they can't find an income that can support the death that they have the debt repayment. Not even quotes in articles of their vision factor and you know housing food transportation. Usually they can't even addressed this. Bill at this time at all and did not even feasible for them to to pummel but I recoverable repayment plan at that point. He's let's pick up on this straight after a quick break you're listening to Mike hey flick and Jeff for an we are these financial guys here. Today for Mike Loma school and Michael ware take a quick break you're listening to the financial guys here on his radio 930 WB on the. On the wings paid programming securities offered to pick brokerage LLC member funeral SIPC investment advisory services offered through independent solutions wealth management the financial guys an independent solutions are not an affiliate to pick brokerage services LLC the political views and they should not reflect the views of peak brokerage the show was not intended to provide specific legal tax investment or other professional advice please consult a professional for your specific situation this radio shows for informational purposes only and is not intended to solicit or recommend any particular security information discusses obtained from sources believed to be reliable but its accuracy and completeness or not guaranteed. It's the financial guys radio program. It's my team. And jump who. A special surprise. Call 8030930. Hold free 180616. WB and himself calls are free Epstein at 930. Now live from the WBBM. Studios. Mikey. And just. While frank after the celebrity might say yeah eight wow I mean we made that you know we're we're big time that ranks pretty filtering are very frank is basically answering phones I'm knows how to stop about the Lomas and we don't name is perfect. They do a great job to make it sound semi decent when we do villain for the the real superstar might Mike elements in the legal. Stars rates so. Eat so welcome back if you're just tuning and we are the financial guys and that we covered a lot of territory today and I'll. All over the map we're gonna kind of focus Mac I'm a little bit of collagen you know as I said right now I've got to and counseling and working families in Western New York. Have yet to set the calls coming in quite a bit it's been very busy first set are or mice son or daughter is going to school in the fall and I have the bill. And I don't know how we're gonna pay for S and you know those are the horrible calls because you know when I really wanna see his. He should the team and and talking about two years ago as we could set out and play in this so we're talk about that after my. We're fortunate to have heir apparent who. Was on the other ran the IA gets its say that than me as the end of but he seeing what happens when students graduate it can't debt and they're unable to pay it and he. Eighty when you've done it a bit the wrong way when you look wrongly that sort of the the glamour of a campus. First rights of the theme here is we're gonna talk a little bit to its Erica and and wrap -- American find out situations that people of gotten themselves into. And then we're gonna introduce our special guest in studio to talk about how not to get your family in the situation so. If that's the case if you're if you're grandparent care. Call your family tell them to listen because can be very. You know a very good session we're gonna learn. How not to do with the wrong way but tonight yes sophomores juniors and schools and salute listen to this this next segment. So I up Erica quickly what I want to do is kind of refrain things because when I work with our families. What they don't understand because they always say I say I gonna pay for policies they immediately say scholarships and loans. And will Clark covers scholarship later but loans in the student's name for their freshman year. They can qualifier for 5500. Dollars the Stafford loan direct clone. After that they typically go to private loan which mom and dad are gonna have to cosigned. And I don't think parents sometimes understand the ramifications of them co signing alone with regards to credit and things like that so. Could you talk a little bit about what it means of course I'm alone in and you know for your son or daughter grandson or granddaughter. Absolutely and we can also put the magnitude of this student loans in perspective. Bow with. The this step alone is that these student loan that's right now the second highest consumer debt category in the entire country only second mortgages so here's the curves there's an awful. But the student loan will be for most people their first second largest financial obligation that they'll see in their lifetime. So. Being right out of high school are possibly under unemployed or underemployed going back to school. And you're dealing with these department won't sector you are an ethical signer. 22 out of the vehicle while and so that means. The responsibility. The owners at is equal on both parties so the person who signed it and of course planner honorable 100% liable for the long. Also that is the very big business and that have to be made as a parent myself I know you'll so busy for your kids it definitely. Want to have a plan and have this conversation. And speak you know individuals like yourself. Before you you jump into that pod. Are you American people you know the glamour of the school I would definitely. Suggests. And look there's a lot of different calls over the years I've heard everything to where. I went to this war because that was my father's alma mater it was a short wanted to do. Let's hear athletes in school. And we decided how to figure the repayment plan after. I graduated and I deferred as much as I possibly could to for sure before I had to you know deal with the situation. I would suggest. Once you with your lucky enough to know what you wanna do you have a clear up half decision. I would probably very well be the quickest well in the cheapest way how to use that. Because of the rebel lot of liability and as we mentioned earlier a lot of these loans are up there forever loans are not they don't go away. The only really. Caught it here goalie disabled or. On them now. Right chair so you have to almost work with the end in mind I mean failure upset before you go to school. If you figure out at what point will actually be working how much we'll be making in what will lie for possible budget the. Yeah and what's my investment what's my return and pass it as simple as that but I Erica I think you said it best when you said that you know parents co signing alone. They don't understand that's their loan and I think that the finger in my your home a lot of parents is when there's a default comment loaned. You as a collection expert. We're calling the student saying he defaulted you're calling mom and dad saying you're on this loan you better start paying us money. Absolutely and they really do not understand there are liability big uses it was not mine I just cold side. Yeah. Yeah. I've heard that too is Tom I just cosigned and they say oh wait and when he meets on my credit report them from Tom and it does it goes in your debt to income ratio is your ability to borrow. Your credit score. All of those things get affected. And I think parents are under the impression that the students can just. Sign for you know 100000 dollars of loans in their own name but we know that's Pacman. Eric thanks a lot we got so we gotta run and there appreciate you joining us and help us out understanding the wrong way you soon. Are you never great thing thank variety. Yes that's good stuff and it it just really makes you think. Don't just cross your fingers and as your your student your son daughter ready to graduate and just hope hope that they're gonna do the right thing. I had I hit some parents command. In a couple months ago. And it was it was really really scary either their daughter graduated she's got over a 100000 dollars in student loan debt. So. You know well over a thousand dollars a month and repayment he's you know we know she's stretching into furniture. And she's making thirteen dollars an hour. The math just doesn't add up so I guess if you're in other parts of what what should I do. They wanna be sarcastic I really fell in town and you minister fixing up a nice room in the basement. Because she's not gonna beat it second jobs yes it's in this particular it's impossible. We've got Steve on line and try to grab it real quick before ticket brakes deeper question on loans. Hey Steve older V thanks for Colin any situation many years ago and now they're more stupid that I am now. My hands my buddy asked if I would close I don't know where it's girlfriend's daughter. Who. Okay and it leases if it goes it's deep fault he aiming for any big deal and it. Mine my question is if I should die. Okay. Those that what happens to that loan tactically by it but he is not responsible for it is great but state respectable four. You know I really don't know the answer that question would be something a probably asking the state planning attorney. We want in our office Tonka well it might depend how the laundry and I'm assuming it's a debt that your estate. Would have to pay off because. Secured debt sort of like the buck stops here right in the sixty. That's they'd wanna try to settle with the state I don't know what the process would be but and you can reach Tom in our office on throughout the week at 6331515. Numbers Steve. Tom kind now both CA and and AVO. Yet concentrated in that degree. Question I'd wanna know that if I if there's if it was me. Yes folks and thank Steve thanks for Colin. If you do need us throughout the week by the way I am Jeff or on my case like we do manage money we help people financial plan. We have specialties in our office I nicer to help people throughout the week with Social Security claiming strategies that Whittier a single individual I'm a married couple. You may have gone through divorce you may have unfortunately then widow and I can help you figure out the timing of claiming your Social Security benefit sometimes there are really. Significant things that I can help you do. And it's not helping people with college planning now so much saving for college it's not just. Hey let's get you into effect when he nine plan for your kiddo it's how do you say on the cost of college how do you do it in the past away. We also do have time in apple while management attorney for a one K plan we we actually help certain segments of the population veterans line force men with Jay Blanchard neighbor stroke. Women in investing with Andy and we have so many things that we can help you with please Jesus as a resource 631515. Take a break in the broken our current us here perfect parent so we will be right back this is my safely tough or on the financial guys. Will be right back after a quick break here on news radio 930 WB him. So Duncan. Already love doesn't like I'll I'll be snoop in this in this dialogue here and and you talk I'm just going I'm. I don't think maybe Jason had chosen that do you think he is the longest running guy here in the studios. Will. Let's concede his chain to that your dad at all animosities that like seven years I'll only use them anyway. Now welcome back folks near the financial guys like he flicked up or on in studio today. And we little bit of a little fun here and college college loans and college planning and so we've we've Kenneth I think. We kind of talked about what not to do so it's kind of language that we just got a text and as well. My brother in law has a Ph.D. in political science with 275000. In student loan debt. In no job imagine that payment. It has been honestly you'd you'd think at that great it's a great moment for kids all the college. It it's it's like that's misleading them Fastenal. It can be capsule bluntly in a tremendously terrible experience of this happens what. And I remember going to my daughter's preschool graduation. Who was in will install. And listening to somebody from the board of education. Giving a speech saying it's okay if you don't know what you wanna do where he won a change your mind you've got plenty of time ya think I'm who's done. I know it's so you know it is it's okay they get you know 88 irritable I vote in the states and eight year four year degree that's OK it's just gonna cost a few dollars you. Which leads me to our special guest in studio. We're really happy to welcome. And the newest addition to send your kids to college which are not for profit college planning plan. Planning service work with families in Western New York. We're actually gonna be doing in the seminar workshop. At AAA and Emerson chairman and national this Tuesday. 8 at 6 o'clock. You're welcome to attend. Just show up it's in the lower level AAA to run our workshop it's gonna cover all the things that you should be thinking about. If you've got a student who's a freshman sophomore and junior in high school. Now's the tenor of the Communist purely educational but like to welcome Danielle Del Monte who is president of prep star consulting. And why Danielle works with our team is she's trying to avoid. You know the the 275000. Dollars in debt because it took me nine years to go through school and I don't have a job. Yeah it's a good job market that didn't have anything's related when I got my degree in. So what what we preach from before I introduce Danielle is we preach. Career. Major then pick college unfortunately that is exactly opposite the way I see most people do it. Most people are driving around right now with their son or daughter who's you know a junior. Spending the summer looking at colleges but not understanding why and what they should look for. And not having a plan. And picking out college because it was a nice place. And not understand mountain what's the what's the sticker price what's the net price. Sure am I gonna get Miriam are gonna get financially. And it's just the wrong way to do things so we've. Looking Allen and welcome Daniel thank you for me Saturday all right it's funny a lot of our our viewers would wonder. It affects us a big way we have a lot of clients that are trying to go from. The working years of their life their retirement. Right it could keep you from going into retirement. Exactly exactly you can't take out loans to retire in our new tool. I was tell people you know think about what your last son or daughter graduates from college how many years from that point until the time your retire and it's a very short window. Well so answer intrepid we're seeing all the time that there really is we Marvin emphasis on college verges on the student's right right where the students calls where they can be kind of looking had and then kind of reminding acted. On because really we're seeing a lot of parents even saying ultimately he sat my my son's my friend's son went here he logs that while that doesn't mean it's a great fit for their child right financially culturally academically. And so so tell us about the process that you go through with the student so that that we're not making mistakes. Exactly sell when I I personally work with the student I look at many factors but the three main actor I would say it really look at the past college that for the student. It academic. Financial Richard talk about the most name and social which is you know finally you know the campus life type of stuff that when you look at those three things he really wants you align student interest with the school. On you know budgetary from budget standpoint from an academic interest in point and I wanna talk about epidemics because. You mentioned some people have no clue what they want it to you and high school years is really time to start exploring that rates are here working at a sophomore junior senior at that I have no clue what I wanna do. It gets the time to really get them involved in an internship are shadowing a professional during the summer. On maybe it's asserted a part time job exposing them to an industry that they may really like also giving them actually dealing with they don't like right there and at least eight years ends in school meals sightings of the green. Because I and I think I've said this before my own experience is hey Mikey you're good at math science and engineering. An engineer is. Probably don't think they're going to that here the next thing. But anyway it was published and make me feel older that they magnet attracting me because it was the. Exactly I think that you know when you're looking at what do you want to do it's figured now currently it's the year receive your child a lot of time and money in the long on. And I think also. You know when you look at colleges. And Sally. Field right there and you rats climbing all their new dormitories. All those things are nice and act and an act and get it would create space out loans to pay back all the equity basis. I think I know he's in terms of college visits and questions asked I'm Khaled I always say look at retention rates right how many students are graduating with an F 46 year timeline. That really reflects on the school op student eyes and how quickly they can get students in and out. On in terms of you know epidemic passing out. Working in the fields on the job internship placement right at their internship opportunities that students can make and sell marketable coming out of school. And really also gotten you know. Hitting cost Jackie top you know we talk about the silent time but really you know going to school Los Angeles. Coming from awful all your paper. You know flights every year coming home Christmas pre Thanksgiving sale those hitting proselytize or not I'm really looked at happily not at all and I think. One of the biggest cost that I see that that families just are not prepared for. Is the fact that. There's a good probability high probability that your son or daughter may not graduate in four years so there's a fifth or six year. Graduation rate for many of these schools in the publishing. There's six your graduation rate for four year degree. And I was saying the most expensive your college is your fifth year because you've got the additionally your costs. And you've got the additional year where he should have been working having an income but you're in school instead. So Daniel you know in the how many students are not graduating in four years. Well statistically. There are actually. That's the picture graduate degree for first time. Full time students is only about 5066. Year graduation gaps that six year low now that's yeah that is. A recent pre recent suspect. My gosh so so what are some of the biggest factors like I know that one of the stance I remember us oh you go in the into college. As a freshman there's a 13 chance that you're gonna transfer out after your freshman year is that one of the reasons what are some of the reasons that yeah. Six years a lot of it well I think you know you can immediately and the staff and a lot times that he run out of money right if you go to school and become the third year I think I've heard of parents saying you know we don't know how we're gonna pay this well. So then what happens is the student at a school first master until the parents can come up with the money. On so that's one reason obviously I had a clear mind switching majors to three and four times. I guess I really just having I had an idea and mine is going to college with with at least two to three academic programs that interest you. The First Act because sometimes students get so caught up and you know the city which now of course is a factor at the city and the Greek life and mark superficial factors that really are going to be. An impact. Launch a time horizon it's a pleasure out of school it might be different parties and you experienced while you were in school exactly so. Where we operate in the thirties though a note and he'll be with us after the break it. I like what you said about the social academic financial fans. And it L I have a daughter home once play softball and in it's now an athletic and so forth things. It's really. It's Harvard to focus on the right things because the easiest thing to do is go to campus walked around. Toxin is different you know and nations peoples optical is. He's in you can get wrapped up in that I can't like the dorm room. It's right in the significant and and what's interesting is you think about when they're showing you the campy schedule towards a scheduled tour. They're not gonna show you any of the bad parents for the campus. It's almost like you're selling your house yourself and you're saying. While don't look at that multi corner of the basement yet leaks that they only are gonna show you the good thing so there's much more to prepare. They just stopping at a campus and walking around midnight tour. When we get back from a break on it he'll feel free call by the way John I see you're on deck here around. We'll come out are Jon and Rochester a moment Daniel Del Monte president of props are consulting is gonna be back here with us. And trying to help guide you. Maybe not the students I don't know how many students are listening right now the parents' parents and grandparents. Listen in collier your family and seagate and W begins 930 right now and listen to some of this great advice. I might take place where you take a quick break here and news radio 930 WB yeah. And there are. Love and. It go. We don't know frankly music out more in hope I just feel again moving. Look there and affirmed actor Jerry green here Nazis. If you know what. John's been patiently holding when we grant Jennings and Christian and student loans and we can help mile and this is real quick so as Danielle and higher waiting for the break and chat on I I just think you're doing a fabulous job probably in ceases its first and at that rate. It's it's greatly in that it comes out honestly you know your stuff out is really important stuff yeah you're welcome. Deaths of John from Rochester. John. Not about student loans done. Well I got clutch three charities. Much for being Leo regarding their skid nut I think 20092000. And there was a major shift stint. How's student loans were held and then the government mandate dead. They take control on the portfolios student loans they actually. That's correct Jan op he was back around that time prior to that times avenue house planning since 2003. And I used to work with me in loan company out of Phoenix Arizona. The name was next student in the end. About 300. Different agents helping families with picking the rate loans and you know they they shopped all the loans for everybody was a great service. They went from 300 to zero almost overnight. Because the government came in and just to control basically a path that process. Of all the federal loans. My question would be did acts did it hurt. As he picked the private sector are about aging and insert the government it's in my observation. That we're worse off. You know they found that the loan that the terms of the loans really haven't changed much I know the I had a call yesterday and somebody was in looking a couple of different loans in this this while these federal loans have a pretty high origination costs which which they do there's lot of hidden little costs and fees. But most of that work is being done most of private loans are being taken out on line. The government. Injected. You know it's kind of a tutorial that students have to go through. Before they take up along which I think is a good thing because it's teaching this is what that is this is what it's gonna mean you're taking out 5500. Dollars in student loan. Here's here's what it's going to do here's here's what having a loan means that heart I like. I can't say that. That service is bad because most of his time online. So Muster servers go down you know it's. If they don't that don't count that I got that right I Amazon couldn't figure that I either from prime de Brooke White if they had a crash if they crash you know god help us but I don't wreck but out. I don't think it's you know I think you put a lot of people out of out of work in the private sector job but I don't think it's really changed the dynamics of the loan itself to a student. OK okay and my final question is illegal. Aliens. Are eligible pursuit envelopes. You know. That's. That's a good you got beyond that one I really don't. Don't know where do they end up just getting enough financially from the schools they don't even need need to take out loans that's right because there they're probably not working they're probably on our taxpayer dollar and so they're probably probably qualifying for the Max pell grants and tap into and host of know that that's if it is in any setting air mailed in Mexico. Yeah yeah trust. You know if there's a program turned to help especially New York insurance being done John but I really don't know. If they offer loans that they might not have to pick and. Yeah exactly. Thanks for college John hey have a great weekend in as he as you know they'll never be a stranger that's a the extent. Ass so that the questions I I I don't know I can't imagine any illegal immigrants are gonna ever sale I didn't have enough. Well pretty much you know first ever gone pretty much every student is guaranteed that loans so. I just don't know if you attend the US citizenship. Just general quick Daniel if you don't mind the invitational that's we have but Powell coming in from some friends of ours and done. These are friends from the GA family services Foster care program which could hear a little bit from I'm Morgan Morgan's on our hotline Morgan are you there. And terrific so we have Morgan Schumacher. And Amelie or they are family resource coordinators. From the GA family services Foster care program in I have to be honest I Google GA family services and night. Ice found its its its stands for can stop us a dolphins. All my gas our analysis I let you really sad ass and I'll say like I hope I say that rain but later this must be the gentleman who. The you know the inspiration for this this Foster care program originated for. He had no prayer and target children. Tank area and then. Importantly. At this expanded format. How insecure the west Seneca but I million different down different branches like I think James town branch on what is your agency did. He programs are actors child and family it's in Western New York area with a goal keeping families together. So our guys answered I mean intriguing Foster parents. I'm and meet and match after parents with kids and hearing you're here you're in need of aid and nurturing column. And then he cartwright I'm going to support him up off your parent as children and and Q are there and leave Iraq the entire process that they're working men and. Moon. Who well how long does it take like if someone says I I'm really interested in in Foster parents saying. How long the processes that two to basically become approved in May be actually be the last of them to become a Foster parent. So we have a panel and leaks and keep control program. So after being and here Holmes thank you value your email little bit more. We welcome you and Israel training program so that's what do we get our op Ed yeah I don't know where he. To kind of how our program work. And just that the different kind of practices and information that you would need to know is trying to Foster parent. I am and then throughout that process here dig back and I think we don't. And then we are all at radio city so we can make epic well actually that are coming to Karen comment here are home. Wow let's look at what a great position and must be so rewarding is it sometimes frustrating for both of via. Come on be honest. Hopefully you're my a lot of theory wonderful family and I adapted very supportive and as a via teary interview eighteen and he approached. And it everybody in here see Oliver yeah me and our children so epic great atmosphere the. And don't get me around I guess it's got to be just so rewarding but sometimes the time involved and the you know the process of trying to connect people you know into sort of a loving family together might be. Way longer than you wish it would have to take crank cook. And that's awesome to do many different events coming up that you ill people could be aware of find out more about him. Me yeah so he had. Pre certification classes starting again in September we definitely an upper Eddie and we are welcoming your image and has now. I won't yet eerie air in the lower grandstand with masters -- yeah yeah yeah they're going aren't. He's acting kind and talked about the people there in fact members will be there to answer any question and Fossum and and then we are you saying our first annual walk for kids act now bank. I'm you can register for Abbott locker you're FaceBook page or on her wet I. Tell us what that FaceBook page as what you would have people laugh. Look for. Don't is. She gave Bailey circus that's Foster care. KG a family services Foster care and. And I are. But I did GA failing service that is apple. Perfect perfect cash that's awesome we really appreciate you coming on today and honestly folks if you're out there and you're wondering even if you just want to explore what that might be all about the pair Foster parenting. On what a blessing it is that you can then be so helpful suits that children who need you. And I mean it's really isn't it just you know it would people get out of it don't they mean they give a lot but don't they get the same amount I mean it's just. Kind of be the most rewarding thing talking to people that have taken this time. They definitely get a good experience. That's another thing that that the the most ignorant it that it not only really that it themselves. But also on your children in the home all the children that can come in their home whether it's sort of trend even then you everybody I don't see him. He graphically green and you know people always kinda just wishing they would have done it sooner but they know about it and. You know that's a great point we have some neighbors friends that I am happy Ben Foster parents of many children. And the funny thing is when we first met them we didn't even know who the Foster children word who the you know Omar biological children work. They just all along alone each others you know they'll take care of each other. And that was the neatest thing to me like they access that they have their successful Foster parents say they made it look like. Nothing different if it. Those great guys ladies thanks for Colin let me just again this is subtly or organ Schumacher of theory RTA family services Foster care program you can actually reach and that 660 bull Ford nine's zero cent rate please. 6680490. You can find them on FaceBook they have some events coming up Erie county fair blocked for kids. Ladies thank you for what you do. Our pleasure thanks. Jessica I have a real quick break and we'll break it now will be right back here we're gonna finish or showtime it is Daniels alma. Focusing on these stupid positioning side of college. Make in the rate choices before going to mountains and mountains of debt. I might take it to four on here in studio with Daniels El Monte. We're just take a quick break we'll be right back here news radio 930 WV. Franken that we hear especially for one more time. My you know my ego so big right now. You know we're we're out we're real. And those folks welcome back with a financial guys if you turn a week please give our office call 6331515. Mikey put Jeff forum in studio we're pleased to have our special guest Daniel Del Monte. Who is president of props are consulting and what she does. Is work with families in particular the students. To help guide so we're not making the wrong decisions and paying for it later. So Danielle I and he asked but I am a parent. I'm a grandparent the student is a sophomore or junior in high school. And of course you know having been apparent. You know the junior sophomore in high school what do you wanna do what he went to school for. I don't know. What's the next actually they call a sit down with you how can you help them. Kind of start planning for the restaurant so they're not making. Bad decisions changing majors changing colleges. Doing all that which is very very expensive. Charlotte like tell always you know clear eyed college admissions process really starts. Junior year by the speech and about college really should start as early as freshman or sophomore year. Where you should really encourage your student who just are exploring their interests behind you know their academic studies right in school only exposes you to mr. and Yasser inside it matters such as mine. But really start thinking about to track each and they mean people in your family and friends they all have different jobs haven't really have a dialogue with other people. And to explain what they may be interested in. I usually I sit with parents and students I have and actually I'm a give the students and home bargaining reeling after researching what it is that you know would be required to pursue insert and career would it be what degree would be involved and that what would the intern chips look like. Really and what's entry level salary and that in that career and I don't mean to make it all about money but her out of money Shelley and this is important because a student should have an idea as to what they're entry level sealer will be in terms on paying student loans. Great so and we look at media 30000 dollar entry level salary and a student potentially could well. I don't know monthly home payment up 800 dollars who well let's let's look at that and usually students are a little bit surprised to seat yet. Down comparison but it's really not too early to start having those conversations like hey if you go to this college in her this much and loans. Making this entry level salary this is kind of where you're going to be act even have to make some cuts in other ways some. These these interactions he might have with your kids I'm just speaking from experience they don't have to be like. Lake schedule. They're just like throughout life like literally my older daughter is going is is in a physician assistant program here inning in a school here in town. Almost because on this I had definitely I had to go to an urgent care they took care of me. And her my daughter and this is wonderful he a young female PA. They just didn't hit it off and it's. What you do is this to me. You do this. You know if your interest you know text means that well it was by happenstance it in exchange. And I take advantage of those moments. Yes and I will say this on you know I am working with some since now their interest in physician assistant programs like your daughter Amy and you do have to account for those post on undergraduate years rates up to go to certain school that cost a certain amount in your Catholic planning to get a master's degree or lost a lot of street and you know that's something I think about Gil at times people just look at the four year plan and they're not looking ahead. Right right they come up with them okay my consent colleges and investment in need to have a return on investment. And you know Danielle I'm sure you've seen it is as I've seen through the years. When parents come in saint well it's not my decision it's it's really. You know my son or daughter's decision and I say to them do you really want I have a seventeen year old. Be 100% responsible for making a quarter of a million dollar decision. And now and I noticed to a lot of parents and sometimes it's just that they haven't given enough thought to it but really be realistic about what you're going to get your kids financially each year up their college education because a lot of students don't know you know with the right a lot of there's a lot of unclear answers and you know it's really different habit island starting really junior air and the college admissions process starts or even sooner but to say hey. You know maybe it's 101000 dollars he here in and the rest the students can take on him well. Right and I sat down of the family are damn right you know I laid out all the numbers and look at their retirement. Where they were having because as if they can't take out loans for retirement so. I stop parents from doing things like let's take out a 100000 dollar loan for my 401K. Now yet it's. Or home equity line of credit right where are parenting is almost paid but we got we got great credit let's look or home equity Democrat in your world. And we'll do we'll do a lot for kids will most of us will do anything for markets we love our kids but don't don't risk your financial future. Just to pay for college because. You can't make him back up typically here you're almost sixty years old late fifties when your senator undergraduates in college and he became co author make a backup yeah. I'm our our friend earlier who called into the show he he's that you can't use it doesn't go away in bankruptcy right. Student loans don't go away everything else might but now student loans. So I'm so. And a day to day basis Daniel what do you do if someone wanted to get in touch with you some of those ministers are straight up relationship to try to begin this journey of making good choices on what they do. Well the reach out BF Boehner is now on emails per start consulting at Gmail that time that I direct phone number is 7165978854. And really the process at me I offer free consultation and where I meet with both the parents in a student we just really. Goal further interest are calls you know the situation and and I really customize a program for that student and I I always like techno that because every students different average student you know situation is. Very varies he had it's really important that I customize the timeline of services. On and personalized help that they get out of bird for their specific college there. So that's a great approach because I know in her office that we help people. Maybe we'll become partners let's start this process well let me tell you as a person let me tell you about how we eat financial guys do things. Then we'll show we all sorts of products tools and things investing tools and so forth but at the end is not always the same for every time and every household. Absolutely not I mean everybody has talked knows that her financial situation on student very. Dramatically with their academics. You know who they are as a student in terms of their goals their career. Aspirations where they wanna go to school in an odd students we'll stay here locally but not students have dreams of going had a tablet and a couple new bride. You know it's funny I have some friends that 11 in particular I'm thinking up and he has three kids. One actually two will now be in college this coming fall. He says Mike we don't let them stay home we make them go away as that are illegal is absolutely. My wife and I both want a way. Was great for us to learn how life is outside of the house become responsible. And I thought ma am and Tuesday fares are pushed the is that we don't. Italy is different and I think you know one thing that Jeff and I talked about extensively really is the cost of the army itself you do well lay your automatically during Herman board. I'm an something to look at I mean if you're actually budget you don't want your students yelled with as many loans other students are. It's really important to take a look at that say how can meaty you know it's commuting an option right even if it's just for a couple years that you can work it out. People get sticker shot but the you know what I see is the costs for room and board. Four it's not a full year obviously there's been there for two semesters. Thirteen 151000 dollars depending on what part of the country here and well you know you look at tab vs the cost of small apartment and you know the amount of food that they're gonna eat. It's inexpensive proposition. It's great to add to the college experience but you've got to be prepared for that budget. You know it's funny too I think we can play a lot right we could start us freshman sophomores now parents of those kids. And you can think on doing tolerate things you don't know what their experiences are going to be until there on campus there spending evenings are not into their night since the wake it up on campus. They have you know new friends new professors a new surrounding I had one of my friends and his daughter has now graduated from high college. She ended up on campus and then suddenly found out she was gluten intolerant and and that was not the case as a kid. Or even at a high school students suddenly here she is dealing with those new things and that so if you don't plan. And then you have an unexpected things that come up it's even worse. Exactly yeah every student experience really does and that being different and you know there's nothing wrong also looking at a junior college transfer into another school that tend to be good option for kids they really have no clue what they wanna dill. I don't explore some options the mile and more time nukes by those options and saving money for. Right and in doing so cost effectively rather than spending 405060000. Dollars a year. To try to find yourself seem to be almost the stigma to year you know community. Let's. Alex it's gotten better I think you know with workforce development and so many. Trade I think. You know that's. You don't change a little bit quiet I do think that more and more students are eight becoming an parents are becoming educated just because of the student loans. And the charities like the tree it's like being welder plumber electrician these are high high paying jobs and very marketable there you know there's not enough for those workers out there. Retired folks that were those those other positions like the European Union's. And me can't they they can't tell their clients know because there's so much work out there. But. Have you ever come costing. You said. Paula I just think it's your time to go off and she or stick around you community. Yes I have talked to parents who actually traveled to students rather kind of think that they needed gap here and a lot of times you know what that's fine let and you may be I don't work work a job where they're still and you know exposed to the business world are still gaining really valuable skills. But they're just not really quick ready for that leak to college and that it is sometimes an option for a lot of students. Frank is nothing wrong with that and you feel liaison plate I think that's that's that he wanted to pass rules you can play is. Listen you know you folks have lifted to other you've got 1718 year old and parents on personalities. They wanna get out of the house race they'll become independent here comes to hang out seeking and B buffer. And I think really quick I know I'm real thing remember is that if these students have had years of structure ray and can be the leading told what to look classes take what to do what sports and activities to go to a glad you're really now the pilot you know looking at how it is there's a whole new element of freedom and choices that these students have never really had before so it's important for parents also keep that in mind it's not the students are gonna yelled like -- a little overwhelmed it's identical. Shirts and Danielle you will be joining us. And our cows planning workshop which would be at AAA. On international drive and Sheridan right dwellings fell. Starting at 6 o'clock Tuesday evening so if you wanna join. Just feel free to join its it's a it's a big room so needed either inner guilt that even popular and on T if you want to call our office to reservists who is 6331515. And and is at it's it's it's a pretty big room is about an hour we'll talk about student positioning which Daniel Daniel does. Will be talking math SAT and ACT preparation. And how important it is and I'll be talking about the financial aspects of college. In how to reduce the cost to college how to pay for. Without ruining your retirement possibly about a minute and a half here the last plug don't forget our scholarship is ending. The send your kids to college young achievers scholarship. Applications are due July 31. So if your son or daughter grandchild. Has not applied in their Western New York student. Make sure they go to send your kids to college dot com and apply for the scholarship it's west here students only and it's 3000 dollars in scholarships awesome send your kids to. And her phone number is 7165978854. Do that again. 5978854. Daniel can't thank enough for being here and give me a beautiful Saturday here you are radio studio. We're gonna wrap this up I dishonor real quick before we because we cut loose for the rest of the day and let the WB yen. Date continue to unfold. Of course you know that Esther Julius attacks lady will be here place the press thing here actress the unless there is ready to go. And down if you need us throughout the week we do manage money for a living or financial planners wealth managers. You can reach us at 6331515. We'd love to have you come through homework process. Come and see what we do see it for a little different seat for different than anyone else you've ever worked less. See if there might be a good partnership for you to help you reach all of those goals that you may have. We have a great team a great team so 631515. You can like us on FaceBook. Follow us on Twitter acting guys you can even check this out at the financial guys dot com. Don't change that dial we are going to sign up and hand the son over to EG tax folks it's been a lot of fun hope you have a great weekend. This is news radio 930 W beyond.