In the secret to his long life Mr Overton funeral service join hundreds of people to the shoreline church in North Austin today we are here to honor. A veteran who was in a war that changed our world Valma Overton Jr Mr Overton's cousin who was always by his side took a moment to thank World War 2 veterans for serving our country so remember when you go home and go to bed tonight and you turn off your large you're able to do that thanks to the World War 2 veterans Governor Gray Abbot and Mayor Steve Al There were among the dignitaries who honored Mr Overton at the funeral service calling him a Texas legend and an American icon reporting in North Austin as me curious folks in Austin News. After more than a year of testing the state of Arizona has authorized digital license plates for its drivers of more than $8000000.00 registered vehicles drivers can purchase the optional plates starting at $499.00 through a tech company called Revive or auto its c.e.o. Now Boston says plates can be customized and display public emergency notifications like Amber Alerts or if your car is stolen the license plate had been updated on 125 years Arizona State University computer science professor obviate all Srivastav studies this imbedded system technology he likes that has concerns with data security and privacy what the doctors hack think of somebody else and classes of o.t.r. Right information. Security is a very hard problem kosong break I mean and the principle is anybody because they mean it was their daycare f.b.i. It was is their vehicle so how can you Kreskin this one Scott that we can keep your data safe with Fox onset Charlie Lapa Stora Fox news we are their values talk station this is News Talk 550 k. Employee I mean excuse my old g.h.t. To Phoenix. Major sanctions on Monday against Iran I'm Pam. To sell Fox News president travel says that's what's coming following Iran shoot down of a u.s. Drone the economy in Iran is reeling already from the sanctions that are have been put in place before as part of a maximum pressure campaign the International Monetary Fund indicates that Iran's economy this year is projected to contract by 6 percent House Republican Mike Turner speaking to Fox's Maria Bartiromo the sanctions follow the president's decision to call off airstrikes against the regime this president cannot take military action against Iran without coming to Congress the 2001 authorization for the use of military force does not cover a military strike against Iran the Constitution speaks very clearly on this senator and presidential hopeful Cory Booker on c.b.s. Is Face the Nation the president also reversing a decision to carry out deportation raids from coast to coast the action delayed for 2 weeks to give lawmakers time to work out a fix for the nation's asylum laws these are people who have claimed asylum in our country they've had their day in court they've had their claim projected and now they face a valid and final order of removal if we can't deport people like that who can we deport Senate Republican Tom Cotton On Fox News Sunday the planned raids had been criticized by lawmakers in sanctuary cities both Iran and immigration were touched on in a wide ranging interview between President Trump and n.b.c. Is Chuck Todd also discussed arms sales to Saudi Arabia which the president defended on Meet the Press we make the best equipment in the world but they will buy great equipment from Russia and from China check it out take their money take their money check the president did not answer directly when asked whether he'll order the f.b.i. To investigate the death of journalist Jamal Khashoggi he was killed inside a cast Saudi Consulate in Turkey this is Fox News. Even in my own home I had my own designated space to smoke I think but it really was like I was punishing myself. Night on the beach to play games. This Friday June 28th you ever clear rock in the center of the boardwalk the bandstand to bring the family bring your friends make it day or a night of it or go to bring shows at 630 today 30 check out the full band lined up at Beach boardwalk dot com. It's on at Steven's Creek toyota dot com Visit Stevens Creek toyota dot com today to shop the Bay Area's best deals on new and certified pre-owned vehicle quality service huge selection and incredible savings Stevens Creek toyota dot com even 3 Toyota the obvious choice. Only down to the mid seventy's for the Fox 10 weather team I'm Christie Cif Ken and dede used by over 3000000 businesses for hiring where business owners and h.r. Professionals can post job openings with screener questions then sort review and communicate with candidates from an online dashboard learn more at n.d. Dot com slash higher vox. Very vacations are supposed to be fun but they can also be stressful like when the kids start fighting Well the 1st thing is before you go into it you've got to change your mindset so your job number one for a family vacation is to build great memory Dr a former Marine and father of 3 Andrew Wittmann says loosen up tolerance and tell the kids to be more tolerant of each other before you go so if you start out with that a lot of this stuff gets nipped in the bud and you're not freaking out about the normal stuff I'm not trying to correct your behavior that's just your taping me and we let a lot of stuff go if a blow up happens anyway take a 20 minute break while the hormone dumps subside case nothing personal that they say during the 20 minutes they're not rational we've all been there and then we take and act like nothing happened and move on you can only circle back to it later but minimize an issue during the trip so it doesn't become the biggest memory for younger kids it might be a meltdown instead Whitman says that's usually a sign to slow down the pace with Fox and family and the Sobranie. This is Fox on justice a cocktail napkin that may or may not be worth a 1000000 bucks in 2014 Tony Hopfinger an Alice rogue for hammering out an employment deal over drinks rogue off the owner of the Alaska Dispatch newspaper was hiring Hopfinger to be editor pro golf sealed the deal by writing on a cocktail napkin quote I agree to pay Tony $100.00 k. At the end of each calendar year for 10 years but a year or so later the paper experienced financial problems and filed for Chapter 11 finger stops getting his $100.00 k. On you will salary and so now he's suing and the trial is underway in Anchorage in opening statements Hopfinger his lawyer said the cocktail napkin is. Valid enforceable contract he even displayed a blown up photo of the napkin but rolled off lawyer told the jury having a moved away from Alaska and hasn't been involved with the paper since 2015 the lawyer said to the jury I'm going to tell you to pay Tony what he is owed in this case which is nothing without sound just as Hank wind limb Fox News. Adopt us kids prisons like to expecting expecting a teenager learning the lingo. Or being 100 percent sure or certain as in if we get a puppy I'll hunt go pee always watch you don't have to speak to be a perfect parent thousands of teens in foster care love you just the same visit adopt us kids dot org buggy by the u.s. Department of Health and Human Services adopt us kids the Ad Council of heaven thinking about retirement I've thought about but it's too late for me to save retirement it's never too late so where can I learn more. Today storing time here This is. Officially the longest bull market in the 90 year history of the s. And p. 500 this is very exciting in fact this bull market 10 years old is now twice as long as the average bull market since 2009 stocks in the United States have more than quintupled But hey even though it's the longest bull market in u.s. History it's not the biggest one the bull market that occurred in the 1990 s. Saw the s. And p. $500.00 rise 417 percent this bull market so far is only up 327 percent so we've got a little ways to go to set that record of the biggest right now we are the longest bull market in u.s. History we haven't had a recession in more than 10 years but we can't get totally cocky about that a straight hasn't had a recession in 28 years. Michael Jackson going to come to believe that. What is it our. Time doesn't mean my opinion is to see on the average nice and next challenge is. So yeah we have to recognize that maybe no it's not get a little too cocky about our 10 year bull market 10 years without a recession or even 10 years without a stock market. Direction but people are wondering about whether a recession might be coming up and in fact how are you Dylan in the 10 years since the 2008 credit crisis shockingly based on a new survey that just came out of those Americans who are adults today and who were adults 10 years ago that you were you an adult 10 years ago meaning you were already in your twenty's at least 10 years ago today 10 years later 23 percent say they are in worse shape now than they were before. 51 percent say their overall situation is better than it was only half of America people with as you would expect lower incomes lower educational levels are more likely to say they're worse off now than they were 10 years ago even worse less than half of Americans say that their salaries today are higher than they were 10 years ago and more than half of adults say over the past 10 years they've had some type of financial hit during the last 10 years 71 percent say they've lost money in the stock market which I find rather fascinating considering that the s. And p. 500 has jumped over 300 percent in the last 10 years 46 percent say that their homes of lost value which is rather amazing since Home values have risen pretty steadily in most parts of the country over the last 10 years 24 percent say they've depleted emergency savings 21 percent say they or their spouse or partner lost a job 19 percent say they've incurred substantial debt and 19 percent say that they've had to tap into their retirement savings despite all of this despite the fact that so many Americans say that they've lost money in the stock market or in their real estate that they've. Depleted their savings tapped into their retirement they've lost jobs incurred debts 29 percent say they haven't changed anything kind of Richard really seriously things aren't going your way and there's nothing you've done about it here's. The period in fact 10 percent say that compared to 10 years ago they're investing less in the stock market than they used to we have to recognize that this is the greatest economic scenario we have had in modern American history the employment rate is at an all time high inflation rate is at a 50 year low interest rates 50 year low we have to recognize that there has never been a better economic opportunity to enjoy prosperity and if you are not enjoying it you are doing something wrong. Now you might not know what it is that you're doing wrong you may not know what it is that the opportunities are there out there well you can trouble about trying to figure it out or you could just ask someone who can tell you that's us give us a call the AAA to plan a wreck if you're languishing if you're not enjoying the economic environment that our nation has created since the credit crisis of 2008 it's not too late take advantage of it we'll show you how AAA to plan Rick maybe changes in lifestyle changes an occupation changes in education changes an investment strategy will help you figure it all out by the way with the fact that the stock market is now hit a record 10 years without a bear market 10 years since we've had a 20 percent decline from the high people are naturally asking the question Well one is it going to happen because we understand that the financial markets are the same as the business cycle the economy as a whole it's a cycle prices go up and prices go down the economy grows and the economy receives that's where the word recession comes from so when can we expect a bear market to occur bear market is defined as I said as when the stock market drops 20 percent from its most recent high Well what you have to understand that when a bear market occurs on average stocks fall 36 percent that's that's a little scary isn't it to have the stock market fall by a 3rd but keep in mind that in a bull market stocks tend to rise by more than 100 percent another word stocks tend to go up in good times 3 times more than they go down in bad times. And also keep in mind that bear markets when you know they're inevitable they're they will show up at some point it's nothing to be scared about it's normal in fact in the last 90 years we've had 25 of them there's a bear market on average once every 3 years it's been 10 years since our last one which some people argue means we're overdue but when it finally occurs and I do say when not if when a bear market finally occurs on average they're generally pretty short about 10 months so you just grin and bear it and bear market right I mean you just don't do anything about it don't change your strategy you just wait it out in fact here's an amazing statistic if you look at the stock market's best performing days half of them occurred during bear markets so while the markets are overall falling you get these occasional spurts of fabulous performance another 30 percent of the market's best days occurred in the 2 months after bear markets and you know before anybody realized that the bear market had come to an end oh by the way don't assume that a bear market means recession since 1929 as I said we've had 25 bear markets you know how many recessions we've had only 14 so don't assume that just because we have a bear market just because the stock market falls 20 percent from its high Don't assume that that means a recession is on the way in the economy is going to be retracting that's not necessarily the case so in fact let me put it to you this way how many years do you plan to be invested from now how many more years do you think you'll continue to own investments. I'm going to pick a number for you Ok 30 years so some reasonable you'll probably still own investments 30 years from now you realize that means you're going to experience 10 more bear markets before you die in other words it's just another day it's just some of a fang don't worry about it over the past 90 years bear markets have comprised 20 of those 90 years Put another way stocks have risen 77 percent of the time so let's celebrate the longest running bull market ever Let's recognize that a bear market is inevitable even though there are no signs it's coming anytime soon and when it does as they say grin and bear it I'm Rick Adelman Stay with us for It's on at Steven's Creek toyota dot com Visit Stevens great toyota dot com today to. 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Welcome back to the wreck of a woman show but you're with me here on the summertime weekend we've got big news in the area of luck chain technology we spent a lot of time on this program talking with you about exponential technologies and how the latest innovations are making fundamental radical just rutted changes to everyday life for us here both in the United States as well as around the world now we have news that 2 major ship operators have joined together to form a block chain platform with the assistance of i.b.m. These 2 shipping companies control half of the world's cargo moving it from country to country consonance a consonant involving all of this Wal-Mart Procter and Gamble Daljeet upon involving more than $100.00 ports all around the world they're testing this block chain technology to view their supply chains it's allowing them to track everything from raw materials to finished goods allowing people to share information as their goods move through the supply chain it's going to reduce They say the dramatic cost of shipping and you know what the number one expense of shipping goods is from country to country paperwork u.s.p. You know quite seriously it's the paperwork going from one country to another that comprises 20 percent of the transportation costs blocking technology can virtually eliminate the documentation process sees that allow governments as well as the corporations to track their goods and move them more quickly and easily Libera says that they're going to begin using block chain technology to make it easier for insurance agents to get. Licensed the app will automatically validate insurance agencies licensing credentials there are more than 200000 independent insurance agents in the u.s. They work on average with 11 different insurance companies so imagine the paperwork for 200000 insurance agents to license themselves with 11 companies each There's Dougal good to have paperwork dealing with the state regulatory requirements and they say that the block chain technology offers a unique solution that will save money and allow greater value to customers 80 and t. Is now getting in on block chain technology they're using a crypto currency that will allow you to pay your bill using crypto Wholefoods Nordstrom Game Stop they're already doing that as well journalist dot org says that in the next 3 years half of all global commerce transactions will be made digitally and that brings us to the big news of the week coming from Facebook I'm sure you've seen it was page one in the New York Times page one in the Wall Street Journal page one on USA Today page one pretty much everywhere Facebook has announced a new digital currency backed by global government currencies they announced they've been secretly working on this for more than a year their block chain technology is called Libra and it's going to launch next year they've already got 28 founding members participating in this Master Card Pay Pal e-bay coin based Ober lift Spotify they plan to have $100.00 by the time they launch all $2700000000.00 customers of Facebook and Whatsapp which Facebook own will be able to use Libra to buy products advertised on the sites in other words as a Facebook user when you're trolling around for. Book and you see an ad pop up on your screen it's a product you want to buy you'll simply click a button using Facebook's digital coin to purchase it you'll also be able to send your digital coin called Libor to any other business or person who has a Libor wallet anywhere in the world you'll be able to turn your Facebook coin into dollars of any currency you'll be able to transfer the money to your bank account or to an online account like Pay Pal Libor is likely to be most attractive to people in the developing world they don't have easy access to bank accounts or credit cards there are 1700000000 people on the planet who are unbanked they don't have enough money to have a normal bank account in fact 3rd party payments via mobile technology it's already ubiquitous in China they did $23.00 trillion dollars worth of commerce last year with mobile phone apps Barkley says Libra could generate $19000000000.00 in revenue for Facebook by 2021 The New York Times said quote This is the most far reaching attempt by a mainstream company to jump into the world of crypto currencies the company hopes Libor could become the foundation for a new financial system not controlled by Wall Street or central banks r.b.c. Called Libor quote a potential watershed moment for the global adoption of crypto and coin less said quote Facebook is about to introduce billions of people to the concept of crypto currencies it's hard to think of a better accelerant David Marcus he's the head of Facebook's block chain Technology Research Division he's the guy behind Libra He said quote This is something that could be a profound change for the entire world whose David Marcus well before joining Facebook he was the president of Pay Pal Now some people aren't as excited about it some are downright were. And one of them is Maxine Waters you know her she's the chair of the House Financial Services Committee member of Congress she called on Facebook to up stop developing this until we can hold hearings because you know everybody's nervous about innovation and what it might mean is all this good for big coined by the way of Facebook is going to create its own coin this is something I've been telling you for a long time people have been asking the question what is because and how does it work should I buy it should I invest everybody saw a big coin rise 1500 percent in 2017 and then crash 80 percent in 2019 it's now up 150 percent this year why old swings in value people asking the question What is that how does it work should I buy it. Now the question is if Facebook is going to offer its own digital currency what does that mean for big Corning Well big coin enthusiasm are still enthusiastic on the news of Facebook's announcement Bitcoin jumped to over 9000 dollars in value it's up over 400 percent in the past 12 months 9 in 10 Americans are now aware of big coing and an amazing 17 percent said they would actually prefer to buy it over stacks my creature I follow that logic but okey dokey Why is it such a big deal well think about it the biggest company that allows you to buy Bitcoin is a company called coin base they have 40000000 users Facebook has 2400000000 users worldwide you begin to get an understanding of why this announcement by Facebook is a big deal Meanwhile restaurants and stores are busy going cash free but some say this discriminates those who like bank accounts another illustration of how Facebook might solve that problem because I'm on a bet that a lot of the people who don't have bank accounts do have Facebook accounts I want to learn more about this let me help you I'm going to mention 3 books that I like in the fundamental education of block chain technology and digital assets one of them is called digital gold by nothing no pop or another one block chain competitive advantage by Allison Davis and Matthew Le Merle and finally crypto assets by Jack Tator I didn't write any of these books but I like all 3 of them if you want to learn more about this innovative technology as I have said to you many times on this program if you're going to invest in digital assets such as Bitcoin recognize it as extraordinarily speculative there's virtually no federal regulation it is still a wild west. Environment any money you invest you should be prepared to lose all of it nobody knows what's going to happen next if you're going to invest which we're not necessarily recommending that you should do no more than one percent of your assets treat it like a lottery ticket. Although I am personally an investor and because of the fairy m. And other digital assets both directly and via funds it is only because I've been studying this for about a decade and so you should study and learn up before you attempt to proceed if at all and keep that in mind and the thing you invest in preparing to lose I'm Rick Adelman this is The Truth About Money AAA to play and Rick on the line at Rice Delman dot com. The number one best thing about having Ira coming up on the record at home and. Are you an over thinker Hi Rick Adelman here host of the Rick Adelman show right here every weekend in 3 decades of serving folks like you here at Edelman Financial Engines We've met a lot of folks who were trapped because they were overthinking their financial decisions we get it this can be scary stuff you work really hard and you make a lot of sacrifices to save all your money and well just imagine if you make a mistake bad investment choices the wrong mortgage and correct insurance coverage it's enough to keep anyone awake at night so here are 2 pieces of advice to help you solve the problem 1st realize that most decisions can be changed and 2nd it's not just you it's we you don't have to go it alone let us help you you'll get our experience and our expertise so call us at Edelman Financial Engines it's one decision you don't have to over think call us a AAA to plan wreck that's triple 8 plan Rick or visit us at Ric Edelman dot com That's right Stillman dot com from the i Heart Radio number one for podcasts stuff they don't want you to know what exactly was in kale Why did. He get. This Friday June 28th Do you ever play or rock in the Saddle Creek. Boardwalk to be fancy so bring the family bring your friends make it a day or a night of it or go to bring shows at $630.00 today 30 check out the full band line up at Beach boardwalk dot com. It's on at Devens Creek toyota dot com visited Stevens Creek toyota dot com today to shop the Bay Area's best deals on new and certified pre-owned vehicle body service huge selection and incredible fading Stevens Creek toyota dot com even 3 Toyota the obvious choice examination for their shoot down of our drone the president chosing not to strike back militarily we had something ready to go subject to my approval and they came in and they came in about a half an hour before they were about ready to go I said I want a better lens in the air or playoffs and they're about ready to go you know but they would have been pretty soon. And things would have happened to a point where you wouldn't turn back you couldn't turn back President on N.B.C.'s Meet the Press Meanwhile the president postpones around up of illegal immigrants set to begin tomorrow these are people who have claimed asylum in our country they've had their day in court they've had their claim projected and now they face a valid and final order of removal if we can't deport people like that who can we deport Arkansas g.o.p. Senator Tom Cotton On Fox News Sunday Congress's 2 weeks to find a solution to this is Fox News. Free offer contingent on subscription pay shipping and handling cancel any time messaging data rates may apply when did it become Ok for men to be. On the beach to play games. This Friday June 28th Do you ever clear rockin the set of things before walking the fans day to bring the family bring your friends make it day or a night of it or go to bring shows at 630 a day 30 check out the full band lined up at Beach boardwalk dot com. It's on at Steven's Creek toyota dot com visited Stevens Creek toyota dot com today to shop the Bay Area's best deals on new and certified pre-owned vehicle quality service huge selection and incredible savings Stevens Creek toyota dot com even 3 Toyota the obvious choice. 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As in value i t r A's easy Eva tras a dot com slash tock you'll want to remember that website there's a discount code waiting for you for 10 percent off only ever tries a dot com slash talk this report is sponsored by Indeed dot com clear skies for your Sunday as we warm up to just 100 degrees overnight temperatures cooling down to the mid seventy's for the Fox 10 weather team I'm Kristie Cif Ken and dede used by over 3000000 businesses for hiring where business owners and h.r. Professionals can post job openings with screener questions then sort review and communicate with candidates from an online dashboard learn more and indeed dot com slash hire for get about pattern mail replacements with our in 3 from Red Mountain weight loss you'll eat real fads while losing weight. Welcome back to the program Rick Adelman here triple h. And Rick that's pretty late 752-6742 online right Stillman dot com Time for my favorite segment of the week. Pull up your chance turn up the volume yes in 50 years time once again boys and girls going to. Relieve bad. Add. Your host great Gadol and I'm going to give you 2 bits this week in really bad advice 1st we're going to go back to 2013 and talk about Mark's bits Nagel is a hedge fund manager at Universal investment he told c.n.n. In 2013 that he was confident that the stock market would crash in 2013 or 2014 what really ended up happening Well yes and he did not crash in 2013 it gained 32 percent and in 2014 it gained 13 percent so much for Mark Spitz Nagel's predictive abilities and I got to mention this one to you something a little more current in this month's useless forecast that comes from Paul Christopher and Samir Semana there of the Wells Fargo investment Institute here is the quote from their report quote We believe that capital markets are at an inflection point that could lead to a move. In either direction. Thanks once again for playing Be sure to tune in again next week for another edition. Really bad advice. Really could move in either direction thanks that was really helpful advice you're listening to the Rick Adelman show one of the most constant current themes that we hear of interest to folks is retirement and retirement security and that's one of the reasons that we've created the funding our future coalition in partnership with the Bipartisan Policy Center now about 3 dozen organizations academic groups think tanks nonprofits and major corporations are behind the funding our future coalition all in an effort to help improve public policy and make it easier for Americans to save make it easier for Americans to generate lifetime income they cannot live and to save the Social Security system who better to talk about the issues of aging and retirement security then Peter Kaldis He's president and c.e.o. Of the South Florida Institute on Aging Peter welcome to the program thanks Rick thanks for having me so there's a rumor I don't know if it's true or not that there's a whole lot of old people in Florida the rumor is true and it's increasing. I mean it makes perfect sense that there's an Institute on Aging in south Florida you really literally have your pulse on issues that matter a lot to older Americans what do you see as some of the biggest challenges that people face in terms of achieving security in retirement. Well for us we see one thing it's a living Put another way they're out living their money right so when you consider current average life expectancy women average live to about 81 and 76 but Social Security Act was passed in 1035 and it sounded like a good deal. The time except for the fact that American life expectancy back then was about 62 years old. So the costs related to longevity are really high and we've noticed that it's even surprising to some of the most sophisticated investors and that they didn't realize they were going to live as long as they are and you mentioned the life expectancies women 81 men 76 of course there's bad news the American Society of Actuaries now says it's 88 and so the longer you live the longer you're going to live and so the problem just becomes more and more of a challenge for folks that are never thought when they were born when they were growing up and working that they'd be living so long. And by living longer you're forced to consider their health care costs and the recent Genworth study talked about how the median cost for a home health aide in Florida and about $47000.00 annually if you choose to have a private room in a nursing home it costs well over $100000.00 so people need to consider the cost of health care as a result of living longer and this is a particularly dicey number that $100000.00 a year because it's not paid for by your health insurance and it's generally not covered by Medicare and as a result you've got to foot this bill while also providing the same lifestyle expenses that your spouse is incurring if you're the one going into the nursing home your spouse is still spending whatever money your spouse was spending before so this is $8.00 grand a month or more on top of your current expenses not a replacement or substitute of current expenses it's an addition and that's why doesn't take long for most American households to frankly go bankrupt when faced with these expenses. That's absolutely right and on top of it you add increasing hours in costs you know in South Florida nearly a 3rd of salaries go to housing costs for some of our seniors and it's extraordinarily burdensome so at the same time you know there are so many retirees in South Florida clearly many are doing well what have you seen some folks doing that you would called Say best practices that have allowed them to retire comfortably What are they doing right well I'm going to start with they don't retire or at least not in the traditional you know retirement doesn't mean doing nothing any more you know we had an economist Chris Farrell at one of our recent round tables explain that one in 4 new business ventures were actually started by the 55 to 64 year old age group and so the labor force participation rate of people over 60 has risen nearly one 3rd in the last decade so they're basically starting businesses and I think a 2nd best practice is that they're actually taking advantage of the sharing economy we've partnered with a start up on a silver has destroyed long term air b.n. B. For older Americans and they're now able to offer an online platform that allows you to rent out a room if you're an empty nester and earn some extra income at about $10000.00 annually so you don't have to tap into your home equity for example if you want to take on some home improvements so clearly the nature of retirement is evolving and the retirement that our grandparents knew where they retire at 62 and dead at 65 is clearly not what we're going to experience and so it's important to realize we may give up that prior job at 40 or 50 or 60 hour work week making 6 figures you can do something on the side on a part time basis that is of interest to you make 10 or 20 grand a year it's a fabulous supplement to your retirement income and social security income and enough to keep you in a great comfortable situation no that's absolutely right and that whole new. Of how our generations and different generations differ from the prior one just starts an important one here in south Florida you know many of the baby boomers we help unknowingly quote share when they talk to us and they said if I could turn back time I would have bought that 2nd car or that boat and I think Gen x. Ers are sort of following similar spending patterns and and I know you know there's some studies from Alliance recently that talked about the median retirement savings balance of just $35000.00 for Gen x. Ers but millennial is in South Florida are are have already given up on that sort of linear path of going to school getting married working at the same company for 30 years except retiring with a pension and so they're now seeking employers and jobs who aren't just tied to their sense of corporate responsibility and community service they want great benefits too and so you know we're delighted one of our local success stories a company called Ultimate software is paying 100 percent of healthcare and offering up to 10 percent for a one k. Match they have no problem attracting and retaining top talent and so you raise a really interesting point about talking about millennialism Gen x. Ers is there indeed a generational divide between current retirees and those who are decades away from retirement in terms of how they view financial security. Look I think the generational views have slightly changed decade to decade but I actually think the real divide is in the generation itself and what I mean by that is that retirement planning has generally not been a level playing field for people of color women l.g.b. T. Seniors they've typically earned less and in many cases are you know single heads of household so we see here in South Florida all the time and you know we often hear that a rising tide raises all boats and leveling the playing field with fair wages supportive benefits access to strong financial tools I think is something that will benefit condom in every generation's retirement security so one piece of advice would you offer my listeners at this point. I would suggest they look at technology I would suggest they try and understand how to leverage technology to ensure security in retirement whether it be you know navigating some amazing online tools that I know many investment advisers offer their clients or if they're too shy and they happen to live in South Florida they can come to Sophia and take some of our free technology classes but I really think. Today's retirees are those who are planning to retire should really leverage technology to take advantage of have a lot of resources available that's Peter called us the president and c.e.o. Of the South Florida Institute on Aging Sophia I love that acronym Peter thank you so much for joining us on the program today thank you Rick and if you would like to learn more about technology you can turn to my book The Truth about your future which is a deep dive into exponential technologies and the impact it's having on you in life today and into the future and you can learn about our coalition to improve retirement security it's funding our future dot us I'm Rick Adelman You're listening to the truth about money to fill a plane wreck online at Rice dot com. With the nation's largest independent investment advisory firm coming up on the record at home and show. This family that took their 4 year old shoplifter and let police want to chase. Down the beach. Playing. This Friday June 28th ever clear rock in the Santa Cruz boardwalk the band's day to bring the family bring your friends make a day or a night of it or go to bring shows at 63830 check out the full band lined up a beach boardwalk dot com. 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They require than Brian would feel listen to the Whitfield Garden show now on Saturdays 7 to 9 am on 550 k. S. Why I in the oracle. The latest thrilling adventure from New York Times best selling author Clive Cussler husband and wife team Sam and Ronnie Fargo embark on a globetrotting search this time for a mysterious scroll don't miss Clive Cussler oracle of vailable now where books are sold the mortgage crisis may not have the attention it had before but many people are still dealing with this every day I'm the founder of Operation Hope My name is John Hope Bryant losing your home is unthinkable let Operation Hope all for Hood certified foreclosure prevention professionals to help you negotiate with your manager apply for a loan modification or take other steps to avoid foreclosure call Operation open our 24 hour a day hotline at 888388 hope that's 888384673 indeed used by over 3000000 businesses for hiring where business owners and h.r. Professionals can post job openings with screener questions then sort review and communicate with candidates from an online dashboard learn more at m.d. Dot com slash hire. Welcome back to the program Ric Edelman here on the Rick Adelman show we were just talking with Peter Countess about Social Security something exciting happened this past week the New York Times this is the 1st time I've seen it in the couple years that I've been talking with you about the subject 1st time I've seen it I'm thoroughly excited the New York Times page one of the business section on June 13th massive headline retiree's at risk crisis looms for Social Security recipients massive photograph of Ronald Reagan signing legislation looked on by Tip O'Neill and Bob Dole along with a bunch of other members of the House and Senate all smiles as they solved in 1982 the Social Security crisis of course their solution back in 1902 admittedly f. The time was only a 40 year solution. Well here we are some 40 years later and their solution is running out and that's why we again have a Social Security crisis I have been sharing this with you for the past several years as evidenced by the weekly interviews that we present to you here on this program of experts in the field of social security helping us to understand the crisis that is coming and I've been upset that no one in the major media has been echoing or sounding the alarm now here comes the New York Times page one of the business section with a subhead quote unless Congress and the White House act an expected shortfall will affect many older Americans the math of retirement planning is already changing It's a massive story I'm thrilled to see them do it the New York Times article says in part quote It is barely being talked about in Washington or at 2020 campaign events benefit cuts would be devastating the New York Times says for about half of American retirees who rely on Social Security for most of their retirement income the New York Times acknowledges that under current law benefit cuts will begin in 2034 a 21 percent cut in benefits they quote John chauvinist Stanford economist 15 years is really just around the corner for people planning their retirement the cuts that are being projected would be terrible for a lot of people. Now not every older American will be affected who will be hurt the most according to the York Times those at the lowest income levels the Center on Budget and Policy Priorities says that we go without Social Security from having 9 percent of retirees in poverty to 39 percent African Americans from 19 percent in poverty to 52 percent for Hispanics we go from 17 percent in poverty to 46 percent and the Times notes the cuts will then get even worse after that Wharton says that if we fail to fix Social Security g.d.p. By 2049 would be 2 percent lower than where it is now so I'm not the only one out there telling you that we have got to deal with the Social Security crisis that's the focus of our efforts with the funding our future coalition you can learn more at funding our future dot us why we're developing programs around the country to raise the awareness of Americans and trying to get Social Security into the national dialogue for the 2020 campaign season it is astonishing to me that in the 2016 election not a single candidate from either party ever discussed social security during the campaign not a single debate question at any of the more than one dozen debates was ever posed the question of Social Security to the candidates we cannot allow that to occur again during this presidential campaign season we must hear from the candidates we must begin to talk about solutions to the Social Security funding crisis the good news is we all see this train wreck coming the good news is this is a train wreck of our own design the good news is. Is we have complete and total capability of solving it before it occurs but due to the nature of the math the simple arithmetic says we can't wait until 2035 to fix it we've got to fix it in advance the sooner we fix it the easier it is to fix the more palatable it is for voters and therefore more likely for legislators to provide passage of legislation picture it like a brick wall you're headed towards in your automobile Well if you don't hit the brake in advance you're going to smash into that wall and it's going to be devastating but if you see the wall and you're approaching it from a long distance and you just slot a lease slowly gently apply the brake you can easily avoid any major disruption and what goes from a crisis becomes a mere insignificant annoyance that's what Ronald Reagan and Tip O'Neill did in 1982 and that's what we need to do again in 2019 learn more at funding our future dot us and stay tuned for this broadcast and I'll share with you more news and exciting opportunities we're having for you for financial education and opportunities that you have in the meantime let me share with you some advice on what to do about Social Security for yourself if you are approaching age 62 you haven't yet signed up for Social Security should you when should you well here's how it works you're allowed to sign up as early as age 62 you don't have to you can wait all the way until your age 70 the longer you wait the more you'll receive on a monthly basis in fact each year you wait the money you'll get is about 8 percent more if you take the check at $63.00 you get 8 percent more than if you took the check in 62 if you wait too. 64 you get a percent more than if you waited until 63 get my point all the way up to age 70 in other words your full retirement age this is when you get supposedly 100 percent of the benefit you're entitled to that happens at around age 66 or 67 if you start at 62 you only get 70 percent of that number but if you wait until 70 you get 130 percent of that number huge difference in income and that's why we generally recommend that you should wait to begin your Social Security benefits it matters when you start and not only matters for you it matters for your spouse because many spouses are entitled to a spousal benefit which is higher than the benefit they would get based on their own work record widows get a benefit based on what their deceased spouses had been receiving the higher the income the for the sea spouse was getting the more income the widow now obtains so . It makes a big difference as to when you start to receive your Social Security benefits in fact the National Bureau of Economic Research has released a study showing that your retirement standard of living could become a lot worse in the future if you begin to receive benefits at age 62 instead of waiting until you're 66 or better yet even waiting to age 70 so when should you begin to start your benefits Well it depends it depends on your health depends on your marital status it depends on whether you're still working it depends on what your income is from that job depends on the ages of children it depends if you are in a marriage where there's a broad difference in ages between you and your spouse a lot of factors go into this it matters if you're a federal employee either now or in the past for all these reasons if you're approaching age $62.00 call us let us give you guidance on managing your Social Security benefit claim call us the Triple 8 plan Rick doing it right can add hundreds of thousands of dollars to your pocketbook let us make sure you're maximizing your Social Security benefit you want to make sure your financial future is safe and sound and able to help you enjoy all of your financial goals for yourself in your family that's why we're here to to help you do exactly that we'd love to help you if you've got questions about any aspect of your personal finances give us a call Triple 8 plane wreck that's triple 87526742 or visit us online at Rice Delman dot. Biting personal finance advice for over 25 years this is the Rick Adelman show. Proceeding has been a paid program a free offer contingent on subscription pay shipping and handling cancel any time message and data rates may apply landed. This Friday June 28th Everclear rockin the static chord walk bands to bring the family bring your friends a good day or a night of it or to bring those at 63830 check out the Food and Wine Ok Peter Porter Watch dot com. It's on it's Stephen Street toyota dot com Visit Stevens Creek toyota dot com today to shop the Bay Area's best deals on new and certified pre-owned vehicles quality service huge selection and incredible savings Stevens Creek Toyota Stevens Creek till you into the obvious choice 606060 text s p u n k to 606060 demand letters from the I r s r hitting the mail function if you will back taxes you might be getting one of these things so on and when that letter arrives you're going to have questions Is it true the i.r.s. Can garnish your paycheck can they I r s really take your home your bank account and your retirement savings the i.r.s. Can and does all of that and more but there's a way out it's called the fresh start initiative it's an official government program for tax debt assistance and nobody knows more about the fresh start an initiative than the experts an optimum tax relief optimism mission is to stand between you and the i.r.s. Fighting to help protect your paycheck and your assets and helping you get the best deal possible but don't delay this because the i.r.s. Can tack on a hefty penalty is an interesting every day that you wait the thing to do is call Optima now for your free consultation call 809737700 that's 809737700 we are the Valley's talk station this is News Talk 550 k. Appoint I Phoenix K.Y.O.'s. Phoenix and I are very close. Deportation raids delayed I'm Pam who sell Fox News a mass sweep of undocumented immigrants could have been carried out today but wasn't Fox's going to Scott house more live in Pam President Trump says the halt in rounding up those in the country illegally is only temporary Texas g.o.p. Congressman Mack form Barry said on A.B.C.'s This Week now is the time for the White House and Congress to sit down and come to an agreement at least to work through some of these immigration issues right now we're trying to get some additional funding to take care of the migrants who are at the border that's been far harder than it should be on a chair managed Tarion House Speaker Nancy Pelosi was among those calling for the president to delay the raids the president says he's given Congress only 2 weeks before he reconsiders the round up Pam thanks Cornell President Trump says he's not looking for a war with Iran but if there is it will be obliteration like you've never seen before and I'm not looking to do that but you can have a nuclear weapon the president saying that during an interview with N.B.C.'s Meet the Press he called off a military strike after Iran downed a u.s. Drone what I say is Iran steadily marching up the escalation chain it started out with threats they want to attack on vessels and ports or 10 attack on vessels at sea now it's an unmanned American aircraft House Republican Tom Cotton On Fox News Sunday the burned wreckage of a small plane is being examined by investigators in Hawaii the skydiving plane went down Friday nose 1st killing all 11 people on board several people I spoke with say they hope the family and friends of the victims know that the North Shore community is where the plane is almost unrecognizable it's just a pile of debris reporter Lauren day with Fox t.v. Affiliate k.h. Show and the cause of Friday's crash has not been determined federal officials are on the ground in a law who if this is Fox News. Get your $75.00 tickets now through. For our 2019 I heard Radio Music Festival starry. Night somebody get to playing. This Friday June 28th it's Everclear rockin the Santa Cruz before walking the fans day so bring the family bring your friends make it a day or a night of it for both to bring shows at 630 a day 30 check out the full band line up at Beach boardwalk dot com. It's on at Steven's Creek toyota dot com Visit Stevens Creek toyota dot com today to shop the Bay Area's best deals on new answered.