8 helicopters were involved in the operation the president says last night was a great night for the United States and the world the National Weather Service says California could experience and historic wind event this weekend and that is hampering efforts to fight fires both in northern and southern California the National Weather Service says Spencer tank apparently were seen when really starting to ramp up in higher elevation you know my Napa County we already started he went. Reaching out that need to 80 miles per hour. And with one very close to the fire I mean that 80 miles per hour and that's in the northern part of the state p.g. And e. The largest utility in California started shutting power off yesterday for an estimated 2300000 people across 38 counties in Greenville Texas about 50 miles north of Dallas 2 people are dead 14 wounded in a shooting overnight police say they arrived at a party venue for a parking disturbance at around $1145.00 shooting started about 15 minutes later one county deputy sheriff but he acts for right now they don't have a suspect identified we're trying to interview the witnesses in the victims of the injuries to see if possibly we can identify a Q tip and game for the World Series last night to the Houston Astros 8 to one over the Washington Nationals c.b.s. Is Steve Futterman the big blow here in Game 4 was a grand slam home run by the Houston Astros 3rd baseman Alex Bregman Houston was already on top for the one the grand slam a good $8.00 to $1.00 Astros and the game was essentially over after that the series is now tied it to games apiece game 5 tonight in Washington no home team has yet won a game in the series this is c.b.s. News. The biggest names in politics face the questions you want answered as commander in chief what do you think America's role in the world should Face the Nation Sundays on c.b.s. . From Delaware's trusted source for news am 115117 f.m. w D.l. And w d l dot com I'm Frank you're ace a Pennsylvania pollster claims surveys show former Vice President Biden is still Democrats choice to take on President Trump next year Franklin and Marshall College as Dr Terry Madonna says controversy involving Biden's son Hunter isn't the reason some of his rivals for the Democratic nomination of gain ground in some polls he leaned in it's gotten closer is that he lived a big war and has lived in and appalled at the extent. Bernie Sanders and come out Harris both of them drop and the last couple of months a c.n.n. Poll released this week showed Biden with a 15 point lead over Warren Ok panel open high school student made a potentially life saving move before a football game last week. Junior Team Zuber was in the parking lot of the Vikings homecoming football game last Friday when he told w r d e t.v. He saw a man laying in the parking lot and I was like Are you are right make sure he was Ok and then he got just as it was I don't have the heart attack that man was Mike Bachar the son of the school's custodian who was now doing better and surprised James with a reunion earlier this week when the young kid just doing a good deed to recognize him we don't do enough probably to thank the kids we've taken for granted James is a former Boy Scout and said he was glad his training could pay off when you know made sure somebody was Ok just so that I could do super says he hopes to inspire others to become good Samaritans Shawn Green w d e l Delaware's News Radio coming up on w d l your n.b.c. 10 1st alert forecast. Hi this is Larry president of karma 1340 split Newcastle My family has sold sounds of Lincoln's into the tri state area since 1904 and we now have the best lineup in the 102 year history of Lincoln with over $150.00 Lincolns in stock including the premier. S.u.v. Navigator enormous Continental n n k z luxury sedans were proud to introduce your new Lincoln Aviator in Lincoln Corsair and we are committed to offering a warm human and personally crafting client experience with amenities including pickup and delivery for service only can wait and Lincoln concierge enjoy technology such as the Lincoln copilot $360.00 camera and the all new phone as kids combine all these and add the comfort and luxury of style in numerous arrays of clear code paints you'll be sure to take delivery today so visit our link in studio located chameleons the Route 1340 split Newcastle for a car man Lincoln dot com. Driven by the best. You n.b.c. 10 1st alert forecast cloudy breezy warm today heavy rain and thunderstorms a high of 74 degrees tonight clearing breezy and comfortable low 52 tomorrow a sunny day with a high of 70 I'm frank to race with you Do you know news today is man Deever meadow day and w d e l give Mandy a call or text and listen for a happy day as for educational purposes only consult a mental advisor or conduct your own diligence of investing calls are prescreened in the show was pre recorded earlier this week Rick is with Edelman Financial Engines are part of financial engines advisors Yellow Sea and the investment advisor that furnishes this program parents rank financial advisory perms based on assets managed consignees experience and regulatory record nominees investment returns and experience are not considered by users in the Hall of Fame of the top 100 pretend Bush years of performance is not guaranteed. This is the Ric Edelman show. Barron's ranks Edelman Financial Engines the number one independent investment advisor in the country and Rick is in the Barron's financial advisor Hall of Fame now here's Rick Adelman another Happy weekend to you welcome to the Rick Adelman show the World Series under way. And sports betting shops are all across the country 75 percent of young adults according to the most recent survey had bet on the games underway in it I'm not talking about the fact that sports betting shops are all across this country or that 75 percent of young adults in America are betting on games I'm talking about Ethiopia. Already them well no sooner is the World Series over that hollow weenie is coming. Yes Hala we is this week 175000000 Americans are going to celebrate Halloween 41000000 kids will be out trick or treating how can we say it's trick or treating and not tricking or treating the rubble is one of them but I digress $9000000000.00 That's how much money your going to spend on hollowing this year Americans collectively are spending $3.00 but this is amazing $3000000000.00 on candy according to the National Confectioners Association yes there's an association of candy makers the average household spends $22.00 on candy we spend another $3000000000.00 on decorations and another $3000000000.00 on costumes and 20 percent of Americans will dress their pets in hollowing costumes the only time that Americans spend more money is on Christmas which is coming up not far away October 31 however is not merely a fabulous celebration for Halloween it's also one of the most dangerous days of the year and that is our financial planning angle to this story there are more pedestrian deaths than on any other night of the year. The children ages 4 to 8 have a 10 fold increase in faith Tallaght a risk according to The Journal of the American Medical Association Pediatrics publication it makes a lot of sense how often are kids 4 to 8 walking around outdoors at night with so many of them doing it a 10 fold increase that they're going to get hit by a car violent crime is also twice as high on hollow Wein as any other day of the year makes a lot of sense with everybody wearing a mask robbers join in with them you're never going to know who they are and homes are empty on hollowing because you're all out with the kids trick or treating and then there's paranormal psychology urban legends and even horror films that all influenced the trend increasing the risk of violent crime in fact according to Travelers Insurance crime related insurance claims on hollow Wein are $24.00 per cent higher than every other day of the year theft vandalism 60 percent more home burglaries thefts away from home up 21 percent so how do you protect your children and your grandchildren during their hollowing festivities make sure you have their customs contain reflective materials used later colored fabrics not dark colors that drivers might not see make sure that the hemlines on the kids costumes are clear of the children's feet so they don't trip and fall and hurt themselves make sure that the masks that they're wearing allow for full and clear vision in fact skip the mask use makeup instead make the kids use a flashlight have the children cross the street only across walks and in a well lit areas and be sure that they're walking in groups where it's easier for drivers to see the gang as opposed to a solo child walking alone. And what about your home and its belongings Well don't turn the lights off that's a trick people use to make the trick or treaters go away you know nobody's home and won't ring the bell instead of turning the lights off to say you're not at home keep some of the indoor and outdoor lights turned on even the t.v. Turned on it will dissuade burglars from trying to come into the house you might also consider installing motion detectors that set off your lights remember a dark house is a target for burglars and vandals if you're going to go out ask your neighbors to watch your home let them know you'll be an empty household don't leave spare keys under the door mat or in any other obvious spot burglars are on to that trick and if you're going away do not announce your plans on Facebook trolls are checking out to see who's away make sure your walkways well lit so when the carriers the trick or treaters do come up to your house they're not going to trip on the sidewalk preventing accidents do you have a dog keep your animals under control Remember dogs can be spooked by strangers especially when they're wearing masks and acting aggressively in a spooked dog defends itself by biting. You've got something that can be stolen easily in the yard grills lawn mowers bicycles put them inside the house in the garage locked up and away from potential thieves You might even consider setting up a neighborhood watch with volunteers and if you're going to have your car outside make it look empty if you've got a pickup truck empty the bed cover it with a tarp so that you don't have the hassle of cleaning garbage from it that vandals toss inside hollowing is an awful lot of fun my favorite holiday because you know it's filled with candy but let's make sure that it's a safe and happy one for you and your family and of course Halloween is the official start of the holiday season are you planning to travel this holiday season according to the latest industry data 16000000 adults will be traveling by air this year or staying in a hotel that's great you're going to be visiting family and friends hopefully those you like the problem though is that 39 percent of those $60000000.00 Americans are going to incur credit card debt as a result of their travel when I ask you the question Do your family members who you're going to go visit do they know that you're going into debt in order to make the trip I suspect that if they knew you were going to be incurring debt they would either say don't come b. Will help pay for your travel or see no come to you. Because they can more easily for the travel in you perhaps So let's keep in mind that although we do want to get together with family and friends over the holidays let's not dig ourselves into a hole unnecessarily in order to do it in fact a recent survey from Experian of young adults found that 37 percent of young adults these are people in their twenty's feel pressured to compete with their peers when it comes to money and having nice things 46 percent nearly half say that they have a lot of unanswered questions about money and more than half are afraid that money issues will stop them from doing the things that they want to do in life it all comes down to something I costs Najaf I wrote about this in my book The Truth About Money snow Yop susceptible to the negative influences of other people is it possible that you're a victim. Of snow. Because your friends may frankly have expenses that are too expensive for you here 7 warning signs your friend's idea of having fun invariably involves money Number 2 they make disparaging comments about your possessions maybe your car you drive a mad old junker the cheap old thing look at all The last year's stress all that are making disparaging comments that's not really respectful of you and in fact that's number 3 they don't respect your budget you find yourself Number 4 going into debt merely for your friends you constantly loaning money to your friends it's number 5 are you funding your friends aren't supporting your financial goals when you say fellows I don't want to go do x. Because I'm saving are they not supportive of those efforts do they show no commitment to saving for their own financial future Well these might be signs that your friends are too expensive for you and maybe just maybe you need a different set of friends and as you're trying to figure out what to do with your holiday money this year and on holiday gift giving it's Geraghty that is one that you ought to really consider you want to hear about a pretty amazing charity Well here's one right now. Number one George Harrison did his big concert for Bangladesh back in 1971 brac became the world's largest charity founded a year later in Bangladesh in 1972 it is now the world's largest nongovernmental organization 100000 full time staff this charity and 2018 it lent money to more than 8000000 people educated more than 1000000 children in Bangladesh and 10 other countries Bracco. A university a bank a seed company an artificial insemination outfit a chicken farm a driving school and a chain of $21.00 fashion boutiques Brack is widely regarded as one of the world's best charities with an anti-poverty program that has been copied by other charities around the world including Ethiopia Honduras and India in fact Bracken's done such a good job at solving poverty in Bangladesh that Bangladesh is now considered a lower middle income country it will soon in fact be too rich to qualify for loans from the World Bank's international development assistance program so yeah as you're trying to figure out what to do with your holiday gift giving charities as illustrated by Brock could be a wonderful thing to do to help an awful lot of people. I'm Rick Adelman this is the Rick Adelman show you're listening to The Truth About Money Triple 8 plan Rick Rice Domon dot com. Named by Talkers magazine as one of the heavy 100 talk show hosts in America this is the Rick Adelman show. Here's your n.b.c. 10 1st alert forecast we will be cloudy and warm today with periods of heavy rain even a few thunderstorms under the heavy rain ending early this evening a high temperature today 74 degrees thank you skies breezy low temperature 52 tomorrow sunshine a beautiful day high temperatures up around 71 clouds in the forecast Tuesday and Wednesday not a whole lot of rain though high 65 to 70 Thursday how we need some more rain volved in that forecast unfortunately for the kids this year temperatures will be in the middle sixty's and if you see 10 percent or your all to see soft on your w. D.l. Dot com community calendar joining. A month public library this Wednesday for an evening of free howling celebrations from 6 to 8 pm find out more by calling 798 or 164 you'll find your full committee Events page a w d e l dot com. Hey brother my brother Tim painted great being forgettable brother right forgettable course I thought the reason we're on the radio is so people will remember exactly then forget it can't let me explain please know what someone buys a drill they need to know they want to hold Ok so why do they call Bolton Brothers they want something fixed they want to forget something like air conditioning heating problems or plumbing electrical So when there is a problem all Bolton Brothers to forget about right now wait what you call become it's fixed guaranteed so you can forget about us no I get it till you need out till there's a problem sure then we're here 24 hour every day clean screen in time living brothers tanks whether it's air conditioning heating bombing or electrical one called a bold brother and you can forget about it seems easy to remember we need to go over this again he's never the Tim He's never my gather we're both in Brother John com. Hey it's Chris Carl join me for Delaware's afternoon news weekdays at 4 right here on. Back to the program recover from here on the truth about money I don't know if you've heard the news that the International Monetary Fund the i.m.f. Has now lowered its global estimate for economic growth for 2019 from 3.2 percent to 3 percent. How Yeah Ok it's not necessarily a laughing matter according to the i.m.f. The globe is experiencing the weakest year of growth since 2008 but hey wait a. And it hang on it's still growth it's not like a recession where you have a negative number it's sort of like when you're driving 80 miles an hour for a really long time and all of a sudden there's traffic and you're forced to slow down to 50 miles an hour it feels really slow but you're still going 50 miles an hour so we have to make sure that we're not reading more into this than it really does suggest and yet that's my fear that exactly that's what investors are doing if you look at what's been going on in the news over the past couple of months there has been an increasing conversation of recession increasing conversation about the tariffs on the trade wars Breck's it worries that our 10 year bull market might be coming to an end and it's booking investors one of evidence of that in the 3rd quarter which just ended the end of September investors with Drew $60000000000.00 from their stock mutual funds it was the largest percentage withdraw since 2011 Wow why did investors do this in fact what did they do with the money will they withdrew 60000000000 out of stock funds they added 120000000000 to bond funds so there's this mass exodus out of stocks and into bonds in other words the flight to safety why did that happen well in the 2nd quarter the s. And p. $500.00 grew 4.3 percent in the 3rd quarter it grew a paltry $1.00 It still made money there is that 50 mile an hour thing we're talking about it went from making 4.3 percent in a 3 month period to $1.00 It's still making money but it felt like a lot less and with all the other talk about what's going on politically and economically both in the u.s. And around the world it has spooked investors and interest rates continue to go down the Fed has lowered rates a couple of times already this year they. Say they're about to do it again another quarter point and if you're a saver if you're an investor where do you invest money to get a decent return on your carriage this is causing some people to engage in what we call yield chasing So in the spirit of that let me offer you a fabulous investment opportunity it's a bond a 3 year bond Ok it's not a 90 day c. Day but it's a 3 year bond and it's yield is 12 and a quarter percent you must be joking Yeah 12 and a quarter percent Oh there's a catch there's 3 catches one this is not a bond issued by the government this is a bond issued by a home builder we'll think about it if we're about to go into a recession do you think many people are going to be building homes so how safe is that home builder Maybe that's why that's yielding 12 and a quarter percent over the way it's not just a home builder it's a Chinese home builder Yeah you got out by a Chinese bond from a company that makes houses and then you've got to hope that they're going to stay in business long enough to pay you off the 12 and a quarter percent over the next 3 years and at the end of 3 years give me your money back oh and by the way Point number 3 this Chinese home builder is already rated junk bond status so go ahead chase the yield you'd not happy with your one percent in a bank account years 12 and a quarter all you have to do is give your money to a junk bond out of China everything will be fine what could possibly go wrong. And when we find people engaging in yield chasing like this taking to Killis levels of risk in a desperate effort to get the returns they want well it's because people are aimless with their money in fact in a recent survey 33 percent of investors no way would I'm not talking about Americans not saying 33 percent of Americans I'm saying 33 percent of investors have no financial plan now I get it that most Americans don't have a financial plan 2 out of 3 Americans because let's face it a huge array of American adults don't have the money a huge array of American adults are flat out financially illiterate a huge array of American consumers are simply not dealing with surely responsibly prudently with their personal finances that's a problem of a whole nother conversation but I'm not talking about them I'm talking to you I'm talking about those who are over that hurdle people who in fact are investing have investments and a 3rd of them a 3rd of excuse me you have no financial plan let me ask you a question When's the last time you got into the car and had absolutely no idea where you were going that wouldn't make any sense why would you get in a car if you didn't have a destination in mind why did you get in the car if you didn't want to get from here to there you get into the car because you have a goal you're trying to get somewhere and you've concluded that a car is the best way for you to accomplish the goal and you're going to drive that car carefully prudently safely you know where seat belt you're going to make sure the tires are Ok you're going to make sure you've got gas in the car. Well apparently 2 thirds of investors don't behave that way when they're investing their money they have no financial plan so why are you investing what are you trying to accomplish just investing for investment sake isn't really going to be any good because you're going to simply say I'm trying to make as much money as I can possibly make I'm going to try to go after the maximum returns and when you hear about a Chinese junk bond paying 12 and a quarter percent for 3 years you're like wow that's all I have better than my bank cd that's f.d.i.c insured and boom you take money that is very safely saved and invested and you convert it into a high gamble high risk high falutin lark and you have no idea if it's going to deliver for you or not and even worse you don't even know if the 12 and a quarter percent is enough or quite frankly it might be far more then you need to achieve the goals that you never bothered to set out for yourself so let's make them tangible What do you want to accomplish how long do you have between now and then and how much will it cost that's really all there is to it now it's easy say for college my kid is $12.00 great going to college in 6 years we know that college is going to cost x. Amount of money we know how much money you have right now we know how much money you need to save between now and then earning certain rates of return simple easy easily stablish a goal we can do the same thing for retirement when you want to retire how far away is that how much money do you want to spend on a monthly basis to maintain your lifestyle how much money have you saved already how much money are you continuing to save that tells us what the rate of return needs to be on your portfolio that shows us the kind of investment you want to be buying that's what a financial plan is it's really amazingly simple when you've been doing it for a long time I had the opportunity couple of weeks ago to watch open heart surgery is really cool yeah I got invited into a hospital and I was able as we had a conversation with the surgeon in advance and it was really very. Also and I'm going to tell you about my experience watching open heart surgery and I'm going to contrast that to your not having a financial goal when we come back here on the relevant show so stay with us to learn about the front bumper. Of a poor guy on the operating I'm Rick Adelman AAA clan records online at Rice Dolman dot com. The number one national best seller The truth about retirement plans and Ira It's coming up on the record I don't. Want to financially secure retirement Hi Rick Adelman here let me tell you how we do it here at Edelman Financial Engines we start with helping you figure out how much income you'll need in retirement next we look at your pension and Social Security income and finally your savings and investments as part of all this we consider when you want to retire your life expectancy and your spouse's agent life expectancy to we look at inflation taxes and investment rates of return and very important we ask how you feel about leaving money to your kids and grandkids there's a lot to consider and if you've never tackled the topic of retirement security before it can be a little intimidating that's why you should come talk with us at Edelman Financial Engines we are experts at retirement planning and we can help you make sure that your retirement is exactly what you want it to be well funded so call us at Edelman Financial Engines Triple 8 plane wreck that's triple 8 plan Rick or visit us at Ric Edelman dot com that broadcasting live from Wilmington Delaware your On the Go news source on air on line and on your phone w d e n Delaware's News Radio. And Frank you're a stubborn e.t.l. News President Trump today announced the leader of ISIS was killed in an operation by u.s. Special forces last night. Here is the latest from w. D.l. C.b.s. News special report at the White House this morning President Trump confirmed the ISIS leader of Boubacar is dead as a result of a u.s. Army Delta Force raid last night in Syria we were in the compound for approximately 2 hours and after the mission was accomplished we took highly sensitive material in it from nation from the raid much having to do with ISIS origin's future plans. Things that we very much want c.b.s. News Pentagon correspondent Kevin McCormick President Trump said there was a lot of air power overhead but the more than hour long flight for the troops was dangerous when they landed they blew holes into the walls of the compound Baghdadi the president said ran into one of the many dead in tunnels at the complex and detonated his suicide vest killing himself and 3 of his children the president and many of his advisors watched all of this unfold in the Situation Room c.b.s. News Special Report m But Michigan President Trump a said otherwise but a local pollster thinks running against Joe Biden would be Mr Trump's worst nightmare Dr Terry Madonna with Franklin and Marshall College those from would be better off taking on a couple of Biden's rivals through a policy position the makes them easy targets he wants to Elizabeth Warren or Bernie Sanders because their national health care getting rid of their private insurance back in June though Trump told N.B.C.'s Meet the Press he'd rather take on Biden calling the former vice president quote sleepy the city of New York's Halloween Parade has been canceled for today a tweet from the city's parks and recreation department saying the cancellation came about due to the rainy weather your 1st alert forecast says heavy rain and thunderstorms today high of 74 degrees on Frank you're a studio news 3 years ago do you buy your dream car today it's your worst nightmare you are more than it's worth and you can't get out while the nightmare is over thanks to the all new Apple Apple I don't miss it. You get out of your old car even if you still owe thousands more than it's worth thousands people plus $29.00 per ready for a bit done all you need is a job and $29.00 down $20000000.00 by the all new Apple Apple only to be easy takers and only the best pre-owned plus acres of brandy made to be easy sounds involved and that's already what you get a lifetime warranty lifetime no charge engine transmission even oil changes for life no charge you could get. Out of that lease get out of that loan to day even if you still owe thousands more than if you were thousands of people plus $29.00 current it Ok with all you need is a job and 29 bucks at the all new Apple Apple I don't need to be easy enough to. Come Apple need to be talking about like I take your career to new heights integrity stabbing is now are in for power industrial truck drivers for Amazon to fill me in ne no experience no problem if you aren't of the 2115 power and for a limited time a 1000 dollars sign on bonus apply today walk into our Amazon one site office at 600 principio Parkway West in north east Monday through Saturday walk out with your job apply online and integrity jobs ne dot com That's integrity jobs ne dot com integrity staffing opportunity and. Are you a military veteran know somebody who is every Sunday evening here on w d l we're all about veterans news culture and resources I'm trash Henry inviting you to join us for c.b.s. Eye on backroads stories about interesting and inspiring bets and information useful as we transition back to civilian life that's c.b.s. Eye on veterans Sunday nights on 1017 f.m. And 11 50 am w e l and w d e l dot com Keep it here for Delaware strike watch no 17 at 11 50 am w e y. Welcome back to the program realm and here we were talking the last segment about the fact that I really had a cool trip a couple of weeks ago I got a chance to see open heart surgery it was really remarkable we spent a little bit of time with the surgeon beforehand and then saw the operation I'll spare you the details other than this statement The surgeon made it look incredibly easy. I mean I mean unlike kidney he made it look so easy he was doing a bypass and I was like that doesn't look hard at all I don't know why this surgery is a big deal I think I could do that. Health course you know the absurdity of that comment . Is well needs no explanation it's sort of like you know watching Serina Williams on the tennis court I mean she makes it look so easy I'm sure I could do that until I pick up a tennis racket and realize that the tennis racket ends up being thrown further than I hit the ball and that's really the point about investing so what I said to you in the last segment that financial planning goals oriented investing is so easy you pick a goal you decide how far away it is for you to achieve it how much will it cost how much have you saved already toward it how much are you adding to your savings on a monthly basis what rate of return can you calculate you'll earn and that's all there is to it it's easy if you're a world class tennis player or brilliant experienced heart surgeon. And oh by the way if you're pretty good at financial planning and that's why I really encourage you to not chase yield not look for a get rich quick solution to your problem not invest wantonly directionless not understanding why you're buying a given investment how much money are you putting into stocks overall Why are you putting that portion of your portfolio there are you engaging in rebalancing do you have an effective diversification plan how do you know that your fees aren't too high that your taxes aren't too high that your risks aren't too high and that your returns aren't to allow How do you know all of that if you don't know the context the context is the financial plan what's the point of all this why are we doing this why are we buying Why are we selling Why are we saving Why are we adding Why are we withdrawing are we doing it correctly prudently appropriately in order to maximize the rates of return in order to achieve the goals that we have that are going to enable us to fulfill our lifestyles that's really what it comes down to if you don't know how to do this and chances are you don't according to the study that found that a 3rd of investors have no financial plan of them 40 percent said the reason they don't have a financial plan is they just haven't gotten around to it well let me take that away from you right now call us right now right here Triple 8 planned Rick let's get it done quick before the holidays hit you and you get preoccupied with everything else triple 875 to 6742 will give you the financial plan you need which will lead you to the investment strategy best for you. Rick Adelman dot com is how you reach us we talk often here on the record show about retirement security the looming Social Security crisis and I invite from time to time some folks on the show to help explain what's going on with retirement security generally public policy in the nation and what your future is likely to hold for you and so I'm really excited to bring on the program today Mark Goldwing He is senior vice president for the Committee for Responsible Federal Budget Mark teaches economics at the University of California d.c. And at Johns Hopkins University Mark thanks for joining us on the program today thanks so much for having me so your you have a big focus about a strategy for creating economic growth that the best way for our nation to prosper is to grow the economy kind of make sense but does that make any sense having that include Social Security reform what does Social Security have to do with economic growth well not only to Social Security reform make sense of a strategy for comic growth it's maybe one of the best thing that we can do for economic growth usually when we talk about growth or talk about regulations or the income tax but Social Security is actually more ingrained in the economy than either of those Think about it so scary the single largest government program it's the largest tax and if you're paying for the payroll tax it's the largest source of retirement income most people receive and it sends a really powerful signal to people about how much they should save into how much they should work and when they should retire. Well that's I think a lot more fundamental to the economy than most people would would realize you know we tend to think out so security is for you know it's for old folks they just get a little bit of income that helps them get by but you're suggesting that Social Security is really one of the most fundamental pillars of the entire national economy absolutely at least in terms of where government policy intersects with the private sector there's maybe no part more powerful than just security and we actually you know we put together a framework for a plan that would grow the economy about a quarter point faster per year about 8 percent by 2050 that's much more than you get from say infrastructure investment or tax cut so that suggests that as we are dealing with the effort to keep our economy moving along and at the same time recognizing that Social Security's got a challenge because we're dipping into the trust fund there and then you'll basis now and it's going to be depleted over the next 15 years that we've got to deal with that So would you say therefore that it's urgent that we deal with Social Security's challenges look it's imperative we get a poster to even without the economic growth factor so scared it's projected to run out of trust fund reserves in 2035 that's when today's youngest retirees turned 77 or 78 they didn't like your grandkids promise that your grandparents problem we've got to fix it now but the good news is that while we're fixing it we can also help help combat that economic slowdown that is really I mean ahead and we can give the economy the boost to need to keep growing so what changes are you recommending at the Committee for Responsible Federal Budget to make to Social Security to help us improve our economic growth shares that these proposals are mine alone not they're not the organization but number one we need to just get Social Security solvent the Congressional Budget Office actually looked at that and even if we fix those 3 finances in the dumbest way possible which would be allowing a 3rd 20 percent across. The board they have to make that would grow the economy by 2 to 3 percent by 2050 just by the fact that we're not borrowing so much to keep social security hole on top of that we 3 others that that recommendation 1st of all we need to do more to encourage productive aging and people are living longer they're actually many benefits to them working longer benefits to their income benefit to their health benefit to their life expectancy and benefit to their happiness but Social Security program keep telling people retired 52 or retire at 66 we need to totally overhaul that model and think about a new way where people can retire when and how they want when they're faced retirement whether it's encore careers whether it's working longer and the Social Security program will both give them the safety net they need but also the encouragement to keep working but number 2 that sounds great let me stop you there because you know that certainly makes a lot of sense since we're living longer longevity is increasing across the board that we do what you suggested but let's let's acknowledge that we've got lower income employees who have shorter life expectancies so how does what you just said play into their situation so we actually propose a backstop to increase the retirement age which is that anybody who would sort of a decent career of working can retire at age 62 and be guaranteed a benefit at least the poverty line so we created sort of effects or safety net to make sure nobody falls below the poverty line in retirement but at the same time we change the signal so that everybody who's able is encouraged to work longer and it turns out the research is pretty good that for low income folks just working one year longer increases your average income retirement by up 16 percent per year and it reduces divorce rate to reduce its rate of sort of overdrinking an increase of your social networks and so there's all these benefits to working longer that don't just accrue to the very rich but actually accrue across the income spectrum and we combine that with that safety net to make sure that anyone that. Asked to retire can we think we've a pretty good package here it's fascinating what you just said that working longer reduces divorce rates and I think we all intuitively understand exactly why but let me ask you to know your spouse Ackley. The notion of being happier as well Ken Dychtwald of Age Wave uses the cystic that the average retiring he watches almost 30 hours a week of television. Suggesting they rode on anything to do that that's right and look work at that the only way to plant a film an optical compact have come up by volunteering by spending time with the family by spending time with friends but working does give sort of its purpose the place that you have to go to each day to show up to and for many people even to have that you might think of it very menial. Work give them a real that the fulfillment center social network that they can rely upon a lot of these are reasons more than just economic for delaying the start of your Social Security benefits and why we should be considering incorporating that into social security policy in the 1st place so Mark thank you so much for joining us on the program again that's Mark old wine he's the senior v.p. For the Committee for Responsible Federal Budget Thanks Mark thank you you can learn about our coalition to improve retirement security it's funding our future dot us. Stay with us for more on the record tripling plan right online or price Delman dot com. For a wealth of information on personal finance go to the education page at Rick Adelman dot com. Here's your n.b.c. 10 1st alert forecast. Of a range rocket and an umbrella today Oaxaca a stormy day with waves of heavy rain even a few thunderstorms involved in today's forecast high temperature 74 degrees that rain ends early this evening were clearing skies overnight low temps 52 tomorrow a lot of sunshine in the forecast a really nice day high temperature of 71 clouds in the forecast Tuesday and Wednesday but not much rain involved high 6570 more rain unfortunately for aha we know for the kids' eyes in the middle sixty's and then we see 10 1st let me do all the steam sauce on your w.d. All dot com community calendar the n.d.p. . Cancer funds black and white ball is set for Friday Nov 1st to Harry's Ballroom on name and road find out more by calling 589012 you'll find your full community events page of w d e l dot com. 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We're taking telephone calls here on the Rick Adelman show off the personal Virginia we've got David with us on the phone now you know and David Hi Rick thanks for joining us on the show How can I help well I've got a question I've been asking myself for quite a while that we all know that dollar cost averaging is the best way to periodic early money when you are adding you know what you know but what do you do in retirement when you are now withdrawing money is there an approach that can take advantage of market volatility and not tell you when it goes the wrong way when you need periodic Oh yes in that's the exact same thing you just as Dollar cost averaging tells you to invest a certain amount of money at a certain interval say invest $100.00 a week or $50.00 a month or whatever the dollar amount in the interval need to be consistent that's how you add money to the markets you do the same thing when withdrawing money from the markets you withdraw a $1000.00 a month every month like clockwork or you do it once a year you know take your entire allocation for the year on January 1st in other words it doesn't matter the amount and it doesn't matter the interval What matters is consistency so you'll be doing dollar cost averaging in reverse and you'll get the same benefits as you get when you dollar cost average to invest so it's really that simple very very easy to do. That being kind of productive because when you're putting money in averaging you're buying more shares when the market is well when you're buying your shares when the market is high when you take money out of you end up with growing more shares in the market well so would would that be counterproductive No it's not because the inverse is equally true although you're correct it's a mirror everything is backwards it's equally backwards so just you know you're assuming that the market is always working against you when you're withdrawing and that's not true sometimes the market is up at the moment you're making withdrawal and other times the market is down when you're making withdrawal so it all evens itself out just as it does when you're investing it's just literally a mirror image everything's backwards it's bizarre Oh universe but it all works Ok well that makes a lot of sense now good I'm glad so just decide how much money you want to withdraw and the interval that you're going to withdraw it and just do that on a long term consistent basis and a lot work out Ok thank you very much you're very welcome David thank you for calling Let me make sure everybody understands what I'm talking about here to David's question about dollar cost averaging because it's a really really big deal dollar cost averaging is widely acknowledged as the best way to invest and many people don't fully appreciate the value and benefit of it so let me explain you see most folks when they're thinking about the investment decision are trying to answer the one question that all investors have always asked for all of millennia. Should I stay out and watch it go up or should I get in and make it go down I mean isn't that the question you're asking yourself every day whether or not you should invest you're fearful that if you invest today the stock market will crash tomorrow with your dumb luck and if you Meanwhile sit on the sidelines you'll watch the stock market go to all time highs and then you'll kick yourself for not having invested yesterday dollar cost averaging solves that problem instead of investing a lump sum right now hoping that it's the right time you invest a little bit of money and you do it on a regular ongoing basis for example if you God let's say $100000.00 to invest you don't know invest $100000.00 today you invest $10000.00 and a month from now another $10000.00 a month after that another $10000.00 and you invest $10000.00 a month over 10 months what's going to happen you're going to get the average price of the 10 month period and this helps you avoid the risk that you're putting money in at the wrong time because you put in 10 grand a day in the market crashes tomorrow Ok you lost money on the 10 grand but the other 90 grand is still safe and sound in your money market account and that's kind of the point it gets even better than that I'll run a little quick arithmetic game with you let's say you invest 100 bucks into a stock mutual fund and then it's 10 bucks a share next month you do another $100.00 into the very same fund only it's now $5.00 a share quick what's the average price of your investment you're seeing yourself for the 1st $1.00 was $10.00 in the 2nd one is 5 bucks the average must be $750.00 right wrong. Here's why when you invested $100.00 and it was $10.00 a share you bought 10 shares when it was $5.00 you bought 20 shares you own a grand total of 30 with a total investment of $200.00 divided out and your average cost is not $750.00 it's $667.00 In other words you were right the average price was $750.00 that's the arithmetic mean you learned that in 3rd grade but what I did was the harmonic mean which is 4th grade in other words through the harmonic mean $200.00 divided by 30 shares you get a lower number then you get with an arithmetic mean of 10 plus 5 divided by 2750 and since the harmonic mean of 667 always produces a lower number than the arithmetic mean in this case 750 you have a built in profit of your investment isn't that pretty cool now of course nothing can guarantee profits in the marketplace there's no certainty that your investment that fell from 10 to 5 is never going to go back up in Michael all the way down to 0 you could lose everything of course all the time nothing guarantees a profit not even dollar cost averaging But if you are trying to reduce your investment risks one effective way of doing it is by investing slowly over time instead of in a single lump sum in fact you know about diversification right diversification says to invest in a variety of investments. You know that that increases your safety Well that's diversifying by asset class when you dollar cost average you are diversifying by time buying a share of i.b.m. Stock today is different from a share of i.b.m. Stock a month from now because the price will be different a month from now and buying a share of stock at $10.00 is different than a share at $5.00 even though it's the same share the same security so diversifying buy time is as effective as diversifying by asset class and that's what David was talking about we love the idea of our clients adding money to their investments on a regular monthly basis it's a wonderful thing to do over the course of your career you do that in your retirement plan at work don't you every time you get a paycheck you put money into your retirement plan at work and you do this on a consistent basis every paycheck and you do it over long periods your entire career it's wonderful it's fabulous it's a great thing to do we encourage you to do it David's question was What about retirement when I'm withdrawing the money. And dollar cost averaging works just as well in reverse so if you're thinking of taking out a lump sum from your investments instead of withdrawing the money in a single lump sum withdraw it slowly over time for retirees living on their investment income taking money monthly $12.00 checks a year makes a lot more sense than a single check makes a lot more sense than a single lump sum that you'll then use for the rest of your life dollar cost average your way in and dollar cost average your way out if you've got questions on Mischa learned a lot more about dollar cost averaging in my book The Truth About Money and you're also welcome to call and talk with us about how dollar cost averaging can be used in your investment strategy whether you're adding money for your future or whether you're withdrawing money now to support yourself in retirement just call us at AAA plane wreck that's triple 875267428 let me ask Is it possible that you might outlive your money during retirement join us for one of our free line the events 3 keys to retirement planning to learn about Social Security estate planning and investing for retirement were staging the events in Los Angeles Chicago Salt Lake City and San Antonio Richmond and Norfolk events are free but they fill up quickly so register today just go to Rick Adelman dot com Hey I don't know if you heard the news about this online robo advisor called Wall front and they just recently sent an e-mail to clients saying they failed to accurately report their tax information for 2017 they didn't report the cost basis correctly apparently Ira accounts were not affected the taxable accounts were. And according to news reports well front which has $200000.00 accounts has not offered to reimburse any clients for any losses they've incurred as a result of having to refile amended tax returns for 2017 i.r.s. Fines penalties increased taxes the cost of tax advice etc While fun is not apparently offering to reimburse anyone according to $1.00 news report the reason they're not offering to reimburse is that Walter on already has revenues of about 50 $1000000.00 They've got $200000.00 accounts they'd go broke if they tried to reimburse people by messes you is make sure that your financial advisor not only stands behind their advice but can financially afford to do so as well I'm Rick Adelman You're listening to The Truth About Money troubling plan read online at Rice dot com. Providing personal finance advice for over 25 years this is the Rick Adelman show Delaware bar President William p. 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Share the bounty of Thanksgiving with Dec State Federal Credit Union during Dec stays sharing that skipping grapple for just a buck or raffle ticket or $5.00 for strip of 6 all proceeds helped the Sunday breakfast mission purchase turkeys for its annual Great Thanksgiving turkey drive and as a way of saying then stick stable wore the lucky winner from each branch of $40.00 gift card along with a gift basket filled with all the turkey day as Centrals to stop it indexed a Federal Credit Union today and share some of your abundance with Sunday breakfast mission it's a new day for Christiana Care for more than 100 years we have starved our community as expert caring partners in your health to fulfill that promise for the next 100 years we are continuously innovating and re-imagining how we deliver care where guided by our values of excellence and mom and we're proud to serve in a new and exciting rings Why do we do it we do it for the love of our community and we do it for the love of elements and the p.l.m. Camp and the u.s. To give you a cheek to come into your On the Go news source on air online and on your fall w.g.s. Delaware's News Radio. C.D.'s News on The Hour real news real reporting on the way the Gillette President Trump makes a major announcement from the White House about the leader of the Islamic State of New Car Baghdadi is dead u.s. Special forces conducted a nighttime raid in northwest Syria after locating Baghdadi the thug who tried so hard to intimidate others spent his last moments in utter fear. In total panic and dread terrified of the American forces bearing down on him c.b.s. Is Cammie McCormick with the details of the operation President Trump said 8 helicopters flew more than an hour over dangerous territory taking fire which they eliminated when they landed u.s. Forces blew holes in the side of the complex he said because the door was booby trapped Baghdadi the president said ran into a dead end tunnel with 3 of his children and then detonated his suicide vest the president says d.n.a. Tests identified Baghdadi within 15 minutes defense secretary Mark Asper says to us special forces troops sustained minor injuries a military dog was also heard 2 people were killed and 14 injured when a man opened fire at an off campus party at Texas a and m. University commerce in Greenville Police say he may have been targeting one person and others were shot randomly chief deputy buddy Oxford it was not a. Party its was a homecoming party and there could have been some turn to involve the gunman got away more evacuations in northern California as high winds fuel wildfires evacuation orders were expanded to Northwest sections of Santa Rosa this morning the same city hit by a devastating wildfire 2 years ago Cal Fires Robert Foxworthy the wind speeds are extreme exact numbers I'm not sure but I can tell you there are extremes some of the strongest one I've ever felt in my career. They are throwing embers a considerable distance in front of the main fire and causing those spot fires to take off p.i.x. T.V.'s Katie Nielsen is in Healdsburg We're here at Soda rock winery off of Highway 128 and at this point it's basically a total loss we're hoping that firefighters are able to protect as many structures as possible but the main message this morning is if you have not evacuated the mandatory evacuation zones. You need to leave and that is because these winds are so strong there are embers blowing all over the place out here they used an Astros beat the Washington Nationals in Game 4 of the World Series the series is now tied up $22.00 this is c.b.s. News I'm Erin Moriarty 48 hours and I'm revisiting some of America's most notorious crimes subscribe to.