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July Mailbag with Jason Moser
"The. Multiple answers I'm out Southwick and I'm joined, is always by broke camp. Personal Finance expert here at the Motley Fool. Hey, BRO, well! Hello Alison. It's the July mailbag where we answer your questions and this month it's with the help of multiple analyst Jason Moser. Should you buy a house now? What is modern portfolio theory and also here Jason's thoughts on a lot of stocks all that and more on this week's episode of Molly fully answers. Jason thanks coming back. you know I mean i. told you you invite me. I'M GONNA. Be here every single time. Thanks for having me back. I mean we appreciate it because we know you're a busy man, and so we do appreciate that you carve out time for us in our little show, don't. Always always make time for those important people in my life rule number one make time for allison and Bro I love. It sounds like a good one to me. Everybody wins. All right well, I guess we should just get into it, so the first question comes from Darren I've subscribed to the full for over a year and I'm really pleased with the service. I would like to know your thoughts about my holdings in Shop Affi- I've bought several times over the last three years, and it's now over thirty five percent of my portfolio and I. Don't know if I should continue holding or trimmed down. What would you advise a good problem to have I was gonna say that exact same thing? That's a good problem have? In a very glad, you have subscribed to our services in your really pleased. That's that's what we aim to to do. We aim to please help you make money and so yeah. This is one of those situations that we will find ourselves in from time to time as investors. A nice problem to have but something you do need to address at some point because it is going to be a little bit different for everybody. In so coming from the perspective of I, also own shop, a Fi stock in it's it's a wonderful investment. It certainly is taking up a bigger. Part of my portfolio a not at thirty five percent where you are. I think for me. It really does boil down to. That sleeping at night test in other words, you need to be able to go to sleep at night without worrying about this kind of stuff, and if you feel like shop, a Fi represents too much. Of your portfolio if you feel like you're overly allocated their, then, you may need to consider pulling it back a little, but now I mean it's. It's I think it's always important. Note you know. It's a big difference between building up a position buying a position to make this size to make this type of allocation in your portfolio. It's another thing entirely to have position grow into beat into becoming that size i. mean that that is that is in a little bit of a different dynamic there, so people all the different ways, some sometimes folks will, they will just sort of looking at it from the house money, concept or you. You just sell enough shares to recoup your initial investment, and then you let the rest of it go. Some people are perfectly fine with thirty five percent. Some people are not. They want a pair back so i. do think you need to kind of figure out what helps you sleep at night I do think that shop by a great business. I think the biggest risk in only shop, if I right now is valuation, just because it's dominating, it's space, but it's not making any money yet, and it's probably going to be a little while until they do so that valuation risk is there, but ultimately yeah I think determine. Where you feel most comfortable with it, and if you feel like you need to put a little bit of that money off the table, and he thirty five percents a lot, certainly very understandable. If they've said something you need to do if you do decide to pair it back a little bit. You've made multiple purchases, so you can identify the shares to sell to manage the tax consequence if this isn't a brokerage account and not an IRA. All right next question comes from Steven. If you are forced into unemployment, you are paying federal income taxes on unemployment payments are not contributing to social security nor to Medicare. How does this affect your future calculation of social security benefits and can one contribute to the social security fund during unemployment to mitigate any adverse effects on benefits, it is a little bit adding insult to injury, but you do owe federal income taxes on your unemployment benefits, and if your state charges has a state income tax, you probably have to pay state tax on that, although there are a handful of states that exempt unemployment benefits, so that's good news. And by the way you, you could have taxes withheld from your unemployment benefits you file. This form called form w four V. if you want, they withhold ten percent, or you can do quarterly estimated payments if you wanNA avoid that big tax bill at the end of the year, but if you're strapped for cash is probably just better to get the money now worried about your taxes later Eh. Stephen notes out. You do not pay payroll taxes. Those are the things that go into social security and Medicare so. So. It could result in a lower social security benefit, however, keep in mind that social security is based on your thirty five highest earning years, so if you enter the workforce at say twenty two and you work until you're mid to late sixties. That's more than forty years where the working so hopefully. If you miss out, if this year is not so good somewhere among those other forty, five or so years, you've had thirty five really good year so that this year won't be that big of a deal. So it probably will be okay. And then to address the last question. Unfortunately, no, you cannot make voluntary contributions to social security. There is at least one academic working paper out there. That suggested that people could buy into social security by like extra credits as opposed to contributing to your 401k, but so far that has not been passed by Congress I had an ex. Question comes from Sam. I heard to stocks discussed on another full podcast. When I read articles about them, it mentions they are thinly traded. I have two questions one I'm sure my position would still be quite small so I think I'd still be able to get in and out, but are there other things I should think about when it's a thinly traded stock and question number two. Is there a certain amount of? Daily volume you like to look for when considering a stock foreign investment. What volume do you want to see to not be? Quote thinly traded stock. Yes very good question in thinly traded stock just refers to the either the amount of shares or the dollar volume of shares that would trade on any given. Market Day and so. The. Thinly traded stock. The the problem is that you may not necessarily able to buy and or sell at the prices. You necessarily think you might be able to in other words when you look at a stock's price and you're looking through the. What what's going on throughout the day on the market, you'll see that did ask spread, which is essentially the bid. Ask spread is it's what someone's willing to pay for the stock versus what someone is asking to be paid for the stock? Because you know you have a buyer and a seller on on in every transaction they're. Normally most cases, these business business bread is very tiny, the couple of pennies maybe for most stocks because they're. They're heavily traded right there. There are plenty of dollar volume. But there are a lot of smaller companies small caps in particular in in you know a micro cap, specifically that don't necessarily meet these kinds of thresholds, and so you definitely have to be aware of that now I'll go back in time just a little bit, too. When we were running the service here at the fool called million dollar portfolios Roman Romani portfolio that we help manage members, and it was never really a problem, but we did have a condition in there. We were always looking for at least ten million dollars in average. Trading volume total daily volume now understand I'm not saying the number of shares saying the amount of money so basically shares times price, but we're always looking for at least ten million dollars. That wasn't set in stone it. It was an idea for us. It wasn't ever really a problem because we had a very diversified portfolio with a number of different types of companies, but when you're looking for smaller companies, you would've just keep that in mind that did ask. Spread is is something that just because it says the stock is twenty dollars. That doesn't necessarily mean you'll pay twenty dollars if there is a a big spread there between the bid, and the ask in so I think whenever you're considering stocks that have any lighter trading volume or thinly traded stock. Just be sure to use limit orders. Limit Orders of let us stipulate the price that you are willing to pay for or that you're willing to. To accept a if you're selling a limit, order is just a really good way to protect yourself from any unwanted surprise thinly traded stocks. You might not always necessarily get them when you want them, so you might have to lead that limited are in there for a little while, but but a limit order is a great way to protect you from any unwanted surprises. Next question comes from Randall. I'm in my late thirties now, but earlier in my life. I was very very bad with my money. Collection Calls Welfare and bankruptcy or not strangers to me. I've been at the bottom then I met the love of my life, and she convinced me to turn things around ten, and a half years later and I have done a complete one eighty, I took control of our finances rebuilt my credit and started investing and listening to all you find folks all. I opened it investing account with the goal of saving and building enough a down payment on a home. I'm happy to say we've now reached that goal. I recently sold at a profit because I didn't want that. Money tied up in the market. If we are close to needing it for a house, but now that we're here, I'm not sure what to do. We currently rent a basement apartment and our neighbors general living situation are less than ideal to put it mildly. So, we're champing at the bit to jump into the housing market that being said the experts have been calling for a drop in the housing market for a while, and that was before the pandemic hit now I'm worried that if we buy right away a year or two or three from now, interest rates will spike, and we could be put in a difficult situation. I live near Toronto. Canada or the housing market is already highly inflated in relation to the rest of the country should I be worried? While Randall first of all congrats on turning your financial life around love hearing success stories like that so good job on that. So I'll start with my standard answer with the rent versus buy decision, and that is just pull up spreadsheet and compare the all in cost of renting, including what you could earn on the money that use for down payment versus the all in cost of buying including the opportunity cost of putting down payment as opposed to having invested as well as insurance and taxes and maintenance, and all that stuff and project, where you might be in five to ten years based on various scenarios on what happens to stocks, if you. Rent an invest the down payment versus what happens to? What you'd look like depending on where home prices go. Generally speaking. If mortgage rates go up, that could way down on real estate prices we did see mortgage rates. Go Up for a bit a few years ago, but the housing market did find, but you could certainly envision a scenario where rates went much much higher, making houses, much less affordable and prices would have to adjust. But I don't expect that to happen anytime soon. I think we're. GonNa have low rates for awhile, but beyond that I don't know I've given up trying to predict where interest rates are going or even paying attention to people who try to predict where interest rates are going, so who knows? That said since you live in Canada. I thought I'd check. In where rates are these days and I and I got a brief reminder that things are actually different in Canada so I did a little bit of research. And then realize I had reach out to someone who knows, I reached out to Canadian Motley fool analysts Jim Gillies, and he had some thoughts so first of all just for you non-canadians out there. It is really different so in America. We get this thirty year mortgage than we have the same payment for thirty years. It's fixed. They don't have that in Canada. What's the most common is a twenty five year? But only the first few years or fixed. And then adjusts so in that context you can understand why Randall is worried about interest rates going up because over the next depending on which alone he gets the most popular is a five year fixed, and then you basically have to go get a new loan probably. So that put that in context, a little more, but also Toronto, really is crazy expensive. Vs from the end of last year that put it as the most overvalued real estate market in the world behind Munich. As Jim pointed out in our call here in the US we had our housing peak in two, thousand, six, two, thousand seven, and then we had what he called a reset, which is basically prices came down significantly candidate and have that slight downturn at home prices, but then they just kept on going up, so it really is different there, so when Jim explain all this to me, the difference in mortgages and the difference in home prices. Frankly he was inclined to say to this guy. You Might WanNa rent for while more and see what happens, but he also had the good advice of okay. What if you buy in prices? Come Down Fifteen percent twenty percent. What if they come down to a point where he upside down? You owe more than the home is worth. Are you okay with that? If. You're okay with that. Maybe it's okay to do that. But it certainly sounds like dicey situation than if someone were telling me like I'm thinking of do this in Dubuque Iowa or something like that. couple of other differences. In case you're curious about Canada in the US. Your mortgage is portable in Canada south. You Buy A. Get the five year mortgage, but then move get to take the mortgage with you for the next house and interest is not tax deductible. US Look at you, Robert, broke? Camp Can Canadian real estate experts there you go. Next! Question comes from Chris. I was on twitter the other day and saw that one of your contributors Brian Feroldi tweeted that he doesn't believe in a long list of technical trading terms and then modern portfolio theory. Can you help me understand what not believing an MP? T with mean this? He believed that diversification doesn't reduce risk. Also every financial adviser I've ever talked to his preached empty, so I would love to hear the counterargument. Jason you're not Brian for all the. Question I am not Brian for all the do get the talk of Brian Pretty good bit though. I I must admit I. Don't know what he said here in regard to modern portfolio theory and all of these technical trading arms. But I think I can take a guess. Generally speaking I agree with them, and I think you could sit there and look up the portfolio theory in you know read about it as much as you want. Just go to google modern portfolio theory, and you can dig right in there, but in a nutshell ultimately, what modern portfolio theory is the intention behind it? It's meant to reduce risk while maximizing returns. It assumes that investors don't like risk. They prefer less risky portfolios to riskier ones in order to achieve a certain level of return so right there. I kind of kind of lost me right there because I don't believe that every ever investors risk averse I think some investors have a very. Healthy, appetite for risk, and frankly I would say I got a pretty high tolerance for risk when it comes to investing, made it just because of what I do for a living but I. You know to me I like having that trade off least unhappy. Happy to take some risks there. If I feel like that upside, it's going to be potentially worth. So with modern portfolio theory, it introduces a lot of fancy math in the form of variances and correlations in order to come up with this. Quantifiable, investing strategy that ultimately helps reduce risk while allowing the investor to achieve. Certain returns in. Maybe it works for some not I'm not dismissing it personally I. Don't use it, I don't personally subscribe to it I. Don't need it. I think honestly for us. In a really believe it's extends to to most people in our full universe is that is individual investors I think a more meaningful way to reduce risk. is to just extend your timeline like invest longer. So like Tom Gardner said a number of years back when we were. Working on Motley, fool one basically take your take the time line that you think you want to own any individual stocks you buy shares of starbucks and I plan on owning it for you know five years. Okay, we'll just double it. Cloning it for ten in all of a sudden right there. You've given yourself more time. Time is one of the big advantages we have is individual investors. Money managers don't have that advantage, Wall Street done generally handed abandoned, either, but if you can be patient and just invest in good businesses. That risk really starts to come down over time. There are plenty of studies out there. That show that risk comes down the longer you hold onto those stocks, which into me, just renders modern portfolio, theory, more or less not useful mean on things, not useful for everybody, but it's not useful for me and based on Chris. Question It sounds like a agree with what Brian was saying there. We think I'll add to. That is I agree that risk is really not that much of a consideration if you are saving for retirement. But once you are in retirement man, and just say like you know what the market's not I'm going to extend my time highs in ten years. Because you need to spend money in that situation, I think diversification is important. It's important to have assets that don't always move the same direction at the same time. For some fools. That's just as simple as keeping any money need the next five years in cash, so you're right out any ups and downs, and that can be fine. But I. do think it makes sense to have. A mix of investment so that right now, technology stocks are doing very well, and we hope that continues to do well, but we remember was that happened in two thousand from two thousand to two, and there were down for quite a while anyone who retired in one, thousand, nine, hundred nine, or so it was very happy to have some small caps value maybe a. A little international, some reits to ride out the storm Yeah I think we talk about that often like recognizing where you are as an investor in life, are you in the grow your wealth stage, or are you in the protector stage, because they are two very different strategies, and we're all hopefully going to be in both of them at one point or another right? I personally and still on the grow your wealth stage I. Think we all probably are, but you will at some point get to where you need to focus on protecting the wealth that you've made so that you can then have that money to spend, and that definitely will dictate your investment strategy things that you're invested in and whatnot. Generally speaking I do like the idea for people who are just risk averse and have this notion that investing is just too risky. I mean the fact of the matter is not investing as far away greater risk like not investing. You will never grow your money if you don't the best, so if if if risk is a problem, I think generally speaking. Along the lines of diversification idea that that bros. talking about him, he just invest in invest in SNP index fund is something that just follows the progress and p. you know you're going to be participating in and if you look at that over the over the stretch of time, their five ten twenty thirty years, I mean that trend does go one way. It, but clearly the older you get, the more you need to start focusing on protecting your wealth, and that will change the way you view things. Right next question comes from Alex from Alexandria if I buy Muny bonds from another state in my IRA. Is it still taxable and Alexander with who we have a bond on and we do have a bunch. I know Alex up super excited about having a bunch on in Alexandria to I can't believe I haven't been there. It's like two miles from my house, but we still haven't been oh i. know because there's a global pandemic going on and we. saw. Alyx if we buy me bonds from another state in my IRA is still taxable. Bro, help him out or her or so Muny Barnes. People Invest Immunity bonds because they're free of federal taxes and in many cases. If you're buying bonds issued by the place you live, they might be free of state and local taxes, so that can be doubly triply tax free. That's why people buy 'em. There are some times, however that if you own immune, abound outside of an IRA. Pay Taxes and this surprises some people. There's something called the minimum tax. If you buy immunity bond at a discount, and then it matures at par. If you buy a distress, Muny bond for like you put an eight thousand dollars, and you sell it later for ten thousand dollars as a capital gain. You'll be taxed on that. So, there are some times when you would pay taxes on media. Now, Alex is asking what if it's an IRA? Do I have to worry about paying tax interest. If it comes from another state and the answer is no, you won't have to worry about that. The only thing I would say is. Generally speaking immune bond already has built in tax advantages, so you wouldn't keep it in an IRA, unless there's the example of the stuff I was saying previously like for. It's one of those exceptions when him UNIBOND would result in taxes than you might WanNa keep it an IRA, but generally speaking. If you're going to buy Muny Bond, keep it out of an IRA. Next question comes from Boone. I just did my first. Roth conversion and looked at that old account for the first time in. There was the expected dividend producing fund I remembered, but there was a stock chesapeake energy that I had completely forgotten about since I purchased the stock in two thousand, six fifteen. It's down way down like eight point five percent off the purchase price. What should I do with it now? It's in a tax deferred accounts so I. Don't think the loss is realized until I. Start to pull money out of the account and that might not. Not Be for fifteen years current value of all my shares will be about one percent of the value of the account after the conversion. Do I sell in the very little value? I had left and depend on E. Trade to keep up with lost for me or should I hold on based on the slim chance. The stock will be worth more in the next ten years. Oil Stocks do act unusually on occasion, only oil stocks. Stock everything else makes that usually. Chesapeake has been really. Interesting Story to follow and frankly. I don't I. Don't know that I would look at it today. As a business that I'd WANNA own so typically if I. You know I think it was yet idea. Didn't sound like a position are actively building united investment didn't work out. I mean that that happens to all of us. We don't get them all right. We have a philosophy here at the full. A lot of do we like to? Water flowers and pull the weeds, and that's just a nice way of saying. Add to our winners in to get rid of losers in. This I think is more than likely slated to continue being a loser I mean. Chesapeake has lost a lot of value. In it does sound like based on when you purchased this, these is absolutely busted I mean. There there are all sorts of reasons to sell one of them is if you thesis busted and the reason why you invest in the company is is no longer the case, and I would he probably is the case with Chesapeake so to me like you know, you could sit there and let it go, but but what's the goal trying to get back to even, or are you trying to get back a couple of bucks for me a lot of times? I'll I'll take a little opportunity here and there to just go ahead and pull those weeds sell it. Be Done with it. In even though it's just unique out a little bit value there, you can still take that money and do something more productive with it. So. Yeah T to me. I can't tell you to buy or sell obviously, but I can certainly understand. Selling in this case, but I you know. As as oil and natural gas energy can can turn around. This is going to be one that has a lot of headwinds in in. You might be waiting a very long time to to get any of this money back. I point out here that I it seems that maybe boone has a slight misunderstanding of how taxes in aries work because he talked about realizing the loss when he takes the money out and trade keeping track of the loss for him, it sounds to me that he thinks that he can write the loss off whence he takes the money out. That may not be the case, but just to be clear. One of the great benefits of an IRA is you don't pay taxes on the gains, interest and dividends from year to year. But. One of the drawbacks is. You can't take a capital loss on that as well so there's really no no way to benefit on your tax return from this loss. Next question comes from Benjamin. You recommend seeing a fee. Only financial adviser for check in every so often I know there is the Garrett planning network and others to help find an advisor. But what questions do you ask? And what answers do you listen for when trying to find one that is worth his or her one hundred fifty to two hundred fifty per hour. So I would say start first with asking yourself some questions. What are you looking for? You could go for the whole launch. Lada where someone is managing your money analyzing retirement plan helping new save and a five twenty nine. Maybe even doing your taxes with some financial planners do help with the state planning, or are you looking for something more targeted? You just want advice about am I saving enough for retirement, or are you close to retirement? You're like I just WanNa make sure that I'm doing right when terms like choosing my Medicare plan and claiming social security at the right time, so first of all just be very clear of what you're looking for. Then if it involves investments in any way, you WanNa, make sure that you find someone who is at least in the general same area philosophically and I say this, because many financial planners are hardcore index. And if you come to them as a motley fool, listener member with a lot of individual stocks. They may say okay. I'll give you some general asset allocation guidance, or they'll say I don't care if you like to pick. Stocks are not my advises, sell the stocks and go to index funds, so you want to make sure that if you're gonNA, ask for any sort of investment. Advice that you wanna find someone who's someone somewhat at least aligned for what you're looking for. Once, you've got that then. Just asked some of the typical stuff. You might expect so credentials certified financial planner. Are they a CPA either their personal financial specialist. How long they've been in the business. There are lots of people who. have not been in the business very long. Even though they're not young people, a lot of people choose financial planning as a second career, which I think is great, but just because someone may be look like they're in their forties or fifties. Sixties doesn't mean they've been in the business that long, and you WANNA. See if they've worked with someone like you right so if you have. Maybe. You have a large amount of wealth large income huge portfolio. You WanNa make sure that they have experienced with dealing with those issues, but on the flip side to if if you have, are you know middle income, decent size portfolio, but nothing too complicated. You don't WanNa. Go to someone who's used to dealing with someone who's wealthier partially because those people charge a lot more. You want to find someone who's kind of a little more lined up with what you're doing. Then make appointments with three folks. All of them will do get do free. Get acquainted means, and you're just looking for someone who you feel comfortable with. Since, you mentioned Garrett Big Fan of the Gary Planning Network and other is is not for the National Association of Personal Financial Advisers. But Garrett on their website has a how to choose an adviser section. Just Google attitude visor Garrett Planet Network has a great chapter from a dummies book that they wrote about how to choose adviser, and they have a good questionnaire that you can print out in US asking lots of good questions of financial planner. It's tough. Choosing a financial planner like my mom just went through that Bro! Is You know and she didn't really have a lot of options in Boise Idaho. Maybe two and one of them, she I never called her back, and never got back her, and the other one was just so busy just so busy, and just she just never. It's it can be rough. Finding a financial planner can be I. Think what we'll see is one of the consequences of this. Of the coronavirus pandemic. Just, like we are all used to working from home, many financial advisors and financial planners an now working from home. So in what they're doing is they're becoming licensed in more states. So, if you are more comfortable, working with someone over zoom remotely I think you don't have to stick with someone in your area. You can go beyond your locations, but you know some people don't feel comfortable that if if they're going to have someone managing their life savings, they want to be able to meet them in person. That's just a personal choice. All right next question comes from twitter. Is that right from sully what I hear? Okay? I just listened to the episode mentioning Your Weakness Two. Shopping carts and Tj, Maxx that me or you Jason. Accused me. Thoughts on the stock. If I had a war on Amazon, basket would be Costco TJ maxx Home Depot tractor supply. What would be your basket against online retail? That's funny. Well okay, listen I wouldn't have basket against online retail, because online retails where it's at. The whole idea. The whole idea behind the basket approaches to find a long term trend that you feel like the world is headed toward and so the war on cash basket, for example that was always one about people using cash war, traffic payments now with that said I get the spirit of the question some going to answer it because I do like some of these ideas. And I I would definitely include Costco in their in Home Depot's well. Home Depot gets a lot of my money. Doesn't, but they have a very loyal fan base of customers that just are happy to renew year in year out. So I love those membership models there, so costco and a Home Depot for sure you know I'm going to give a little shout at my wife Robin I. Know that she would approve of my adding target to the mixer. She hasn't been raving about targets APP and ordering on the APP the able to go to the store. Just pick it up right there I've talked with Ron Gross on more than one occasion about target and how this really has. Become a twenty first century resale right they're doing. They're doing everything online and in physical stores. What they call Alma Channel and then my fourth and I'm GONNA. Take this. You probably aren't expecting this when Alison. I'm GonNa Shock and all you. I'm ready. I'm ready Alta. We're going. Make up my I know my daughter's love. It ugly ugly Mug like this. What do I know about makeup? Tell you what. Get! A House with two daughters and a wife. That's what I know about make. There's a lot of it in an Ulta is a really really good business. They actually have a very nice diversified revenue stream. They've got the salon a`dynamic of the business which encourages people to go there they do have an online business. They have an augmented reality function there at where you can actually like. Try things on makeup to see how it looks. Mary Dillon just a phenomenal other adults of that's my fourth, their Ulta but they I appreciate the spirit of the question I like the idea I'm not saying this is the basket. I'm not tracking this basket in a not a not backing this basket, but in the spirit of the question if I had to develop. A basket, such as this one I think it'd go with those four. Yeah, I mean I guess you just have to think about what retail out there is something that you would still physically go to. Because the actual retail experience is being in the space is the experience and what you're there for? And I know I mean before Corona virus we I would go to target and just just couldn't believe how much money I had spent from walking through a few of the aisles. TJ Max is just a phenomenal business I mean what they've done through the years. Is really capitalized on the nature of the business, the advantage they have in that treasure hunt kind of nature like you go to TJ Max, maybe not necessarily looking for something, and then you end up finding a lot of things, and it can be a little bit lumping at times, but but generally speaking like management's a very good job of running that business, and they know how to exploit the advantage of experience. I think they're online game. Though I think they could probably get something going with online, and they just have not have not yet and so I. Haven't since Corona Virus for example. I haven't spent a single dollar there, but I continue to still shop at. Home Depot I. Think Yeah! We still shopping at home depot because we're doing. You know you gotta buy lumber somewhere. And I know my grandparents out in my my inlaws out in rural Virginia. They love tractor supply store, but that's not. That's not in where we live, but. Still New deck at the house there allison. I mean you, can you see? A big exposed beam behind me and some drywall work that needs to happen. Have lots of drywall work that needs to happen now though. Yeah Anyway get to that. All right next question comes from Matthew. I got married to my amazing wife nine days ago in a small Kobe nineteen wedding in our front yard after we postponed it from its original date in April all. It was definitely different, but still very special. My question is in relation to this wonderful event. My salary has been at a level that has allowed me to fund a roth. Ira I love the optionality of it, but after marrying my bad ass, wife are combined. Salaries are now over the limit that would allow me to fund the Roth. IRA does this affect occur immediately? Do I need to now open up a traditional. IRA and begin funding it or do I have until the end of the year. Matthew wants a Roth Bachelor party one last. Well Matthew I have bad news. When it comes to most things in taxes, your status and your age and things like that depends on where you are on the last day of the year, said if you're married on the last day of the year, you were considered married for the whole year. So that means if you contributed started contributing to a Roth IRA for twenty twenty. You need to call up your brokerage. Firm and re characterize that as a traditional. Now don't have any other traditional IRA, as it's very easy to do the back door, Ross which we've talked about before you can just google it or even when you call the brokerage, just say I want to do the backdoor. Roth and they'll tell you what to do. If, you have other traditional IRA as you can still do. It just becomes more complicated and you'll probably pay more taxes. So you, but you may not be totally out of luck and I should say that's only if you have a traditional IRA doesn't matter if your wife has traditional areas. One exception by the way of of what I just said. In terms of tax status and last day of the year is distributions from retirement accounts before it's age fifty nine and a half, you actually have to be age fifty nine and a half to avoid that ten percent early distribution penalty, unless some of the many exceptions that are out there exist. Right next question comes from Warren Warren Buffett. Maybe I don't know that's why I was thinking. He's asking about coq, so maybe maybe. Once James Opinion on coke. By? Or hold? Wants to now. I'd give buffet night give. Kiesel Warren of the same advice and I would say. For some I'm not buying it. Not Buying it I'm not holding it if I own it. I guess that means sell it. Even Atlanta Georgia person like you i. feel like it's almost sacrilege. I am pretty close to probably not being ever even invited back. But the facts are the facts. Okay, I mean you do have to look at the stock itself has been ain't bad stockton for the last five years. I mean I do understand why when you look at it what they do, I mean they have. Four hundred master brands, and less than fifty percent of them are the big global brands that are actually responsible for almost all of their revenue when I say almost only ninety eight percent, so it's a business. It's very reliant on on. You know a small portfolio of really successful grants. The problem is now. We've always talked about cocoa beans such a great distribution story and that's true. They've got a distribution network. It's just phenomenal, but the problem is now. They're what they're distributing is is being seen as not so good for you in so you're seeing them. Have it into to essentially pivot away from what you know brought them all of the success for all these years. Years in soda and that that's not going to change I. Mean you're always GonNa have people to drink soda? People are not to drinking as much soda going forward in the numbers of just kind of the kind of shown that through that through the quarters in the years of Coca, Cola and Pepsi Pepsi. Has the salty snacks division, which I've always been very. Impressed by I, mean I love a good Cheeto, and so I mean anytime you can throw a bag of those cheetos in my Patriot Amok GonNa, turn it their coq. Interrupting, but I think this is also very important point. You tried the Jalapeno White Cheddar crunchy cheetos. The White Shit or so. I've tried to Jalapeno ones but I've not seen the white Cheddar White Cheddar Jalapeno crunchy cheetos. Don't get the puffy. The poofy ones are not as good, but the crunchy white Cheddar Jalapeno Cheetahs. them by them. They're amazing. I have to back. Pain you. I'll get those next time. I promise I, mean Eh. One. crunchy wants the puffy ones, so that people won't you're not? You're not seeing poopie. Who using poofy Joe Copy? We'll be Coca doesn't have that dynamic of their business. They don't have that dynamic to their business, and they've suffered from that Pepsi's Pepsi's outperform coca-cola over the last several years. It's not safe. Pepsi or coke get it back. I'm sure they probably can. But what I am saying is I think there are a lot of better ideas out there, and so I wouldn't be putting new money into Coca Cola and frankly if I did own it. I probably would look at selling it and you know if you've got a beverage company, maybe own starbucks. It seems like the science coming out in support of coffee, right? It's coming and telling you that these sodas. They're gonNA. Make you fat. Coffee, it could extend your life. It could help you live longer. SMART Mexican looking this a starbucks as well is. That sounds like study from the copy roasters of America. Do! Something that Chris Hill sent me the other day. that. We sleep at night. I'm glad I've been drinking coffee as long as I have God knows what I would look like otherwise. You're a good looking man. Rick. good-looking next question comes from. A. I'm trying to save money for my kid's College. Fund while the five nine is a great option. I'm limited to investing in mutual funds, which means at best I'm going to get what the market gets assuming I do some sort of low cost index fund and I be a capital F. Fool investor have been doing much better than the market in the last three years of being a member of. Of Stock Advisor Enroll breakers, even during this pandemic mess by listening to every full podcast and following David and Tom's and yours and every one else's in the full universe. My portfolio of about one hundred stocks is up here today. Thirty percent to the market's down five percent as of day as of today weighed down by three sluggish five to nine plants that are also down five percent each. I feel like throwing away money by using the five to nine, and not being allowed to select my own great companies in which to invest. What's more, my understanding is that the five to nine does not count as an asset for the kid when applying for student aid, but the coverdale does. So I come to you with a simple question. Can I have my cake and eat it, too? What if I wanted to use the coverdell to buy individual stocks? Until the child is nearing college? At which point I then converted to a five to nine. This allows me to get better returns and avoid it being an asset for financial aid and get the favorable tax benefit. So, chose this question, because first of all Dune does a good job explaining the benefits of the coverdell over the five twenty nine, you can buy individual stocks. You can buy and sell them all day long. We recommend that, but you can. Whereas with the five twenty nine, you can only make two changes to the investments a year, and it's all mutual funds. So. That's you did a good job of explaining that. I will point out with the coverdell. It's gotta low contribution limit of only two thousand dollars a year, so for some people save more for college, but they can max out to cover it out, but then put the rest in a five twenty nine. One thing that doomed does not have quite right. Is The financial aid treatment the financial aid treatment? Coverdale's and five twenty nine is identical. They're treated as assets of the parent, not the kid that is favourable from a financial aid perspective. It's not negligible doesn't mean it doesn't have any effect on financial aid, but it's better than an asset that is owned. By the kid. He can. Transfer money from the Coverdell to the five twenty nine. If for some reason, he decides to do that, but you can't transfer it. The other way around so were convinced to try out the covered. You have money in a five twenty nine. You can't move it from the five twenty nine. To the coverdale. What other interesting thing that he pointed out is that he is doing very well with his investments, and he owns about one hundred stocks. We get this question a lot. Either on the show, or on the full live that we run every day for members of full services, and that is how many stocks should I own, and if I owned too many are not just owning index fund watering down my returns, but here's an example if someone owns a one hundred stocks is still crushing the market. Idol last question comes from Cameron thoughts on the valuation of Stone Co in light of the corona virus for a fragile country like Brazil. This could be the tipping point after so many other headwinds. But how does that affect stone? coz Business Jason I. Don't even know what Stone Co is. What is still business? Yes, don't Coz a payments company that's focused on Latin American markets in Brazil and particular in so I guess it could be. Draw you can draw a parallel to to a with square through pay pal at, but generally speaking I mean it's payments. Company focused on Latin America. Primarily Brazil. Is the big money making market kind of like Marco Libra, they're. In I, I, it's a it's. A NEAT opportunity, gained a lot of headline recently, when and it was, it was seen that Berkshire hathaway. Warren Buffett's company Berkshire hathaway taken a five percent position in the company, which is pretty considerable i. Think in the near term. You have to acknowledge the fact that. They're gonNA, be some real headwinds in in Brazil particularly because of the pandemic I mean. The flip side of that is role in same boat kind of in that regard. The entire world is dealing with it, so it's not specifically you know it's. It's not particular to one economy or one country some. To get hit harder than others I, do feel like Brazil. Be at a place where they can recover from this given You know some of the other businesses in the area. I mean that that that I think is. Who knows ultimately how? That's GONNA shake, but generally speaking. I think the move away from cash towards cashless. Transactions in and financial software that's not stopping if anything, this hastens that which which is what I think, Cameron's talking about there and for a company like stone. Co, neither are other companies in the space pags bureau in roquetas libra to but you know moving money around is a big big market opportunity, and there's nothing that says they won't be able to expand well beyond the Latin American markets, too, so I I'd say cautiously optimistic I mean I
A Long and Winding Journey For Some Drinking Water
"Thousands of years before Checchi was a reservoir, the valley was home to several native American tribes. The name Hetch hetchy probably derived from the me. Walk Word Hatch, Hatschi, which means edible grasses, the valley floor would have been full of them, and they were important food source, but in nineteen twenty-three those grasses were buried under billions of gallons of water when the reservoir was finished to find the answers to the rest of Alex and heath questions, reporter Sara Craig, found herself someplace unexpected in the hills of San Bruno. We've arrived just in time to catch some action at the Harry Tracy Water Treatment Plant. Really, high. Spillover! VERICOSE OH, wow! Drinking water from all over is getting filtered here to move large and small particles, but water from hetch Hetchy is so pure. It doesn't need to get filtered although it does get disinfected with chlorine, an ultra violet light. Let's start at the very very beginning where the water starts, that's. And she's joined by Suzanne, Goatee. They work for San Francisco's Public Utilities Commission and a ton about Hetch hetchy water. They tell us it all starts high in the SIERRAS so high. The water isn't water. It's snow. The snow that we're talking about. Is this know that falls on the Twala me. River watershed, which is four hundred ninety two square miles. That's about the size of this city of La all the snow in that watershed Melton to the TWALA me river and three smaller creeks which empty into the Hetch hetchy reservoir. On average per year at San Franciscans consume would be equal to a foot of snow covering that Ptolemy River watershed. To put this into perspective, it takes five feet of snow to fill the hole reservoir once-melted that water leaves the reservoir from o'shaughnessy Dam. And then so look at this map. It travels through a whole series of tunnel so here we're moving through the mountain tunnel. In along the way it goes through hydroelectric dams that generous about seventeen percent of San Francisco's electricity. Did you know that the power from Hetch hetchy from water. That's what actually powers your school. Yeah, I. I go to Jefferson Yeah, it probably yeah. Yeah not even the the Muny Light Rail that you've seen San Francisco Yup. I ride on those sometimes. The water travels downhill the whole. Rushing through tunnels drilled through solid granite. PIPELINES LINED WITH CONCRETE Picture a giant underground waterslide, twisting around mountains and under rivers, and then it takes about three days for the water to get over here all the way into San Francisco. Is. Kinda long, isn't it but yeah, okay only three days sure. It would take a long that do like four or five as maybe a week will need. It's not a bad guests. How do you know that it takes three days? Did you send like some kind of a probe in the water to to time it? We have flow meters throughout the system. and. Yes yes, it'll tell you how much water is moving through what pipeline so we do a little bit of math and you say one hundred sixty seven miles. At three feet per second equals about eighty three hours, but those eighty three hours are rough estimate because operators are always releasing different amounts of water, depending on how much people use. Okay any takes us outside to where some of our drinking water is stored. We're standing on a hill, looking down at a huge tank that holds eleven million gallons. So this is one of those places where we regulate shifts in demand on a daily basis. It's white. Sheen reflects the bright sunlight making it hard to look at so maybe for the water bottle to huge giant water bottle for the whole bay area. Alex suggests we stand on top of that water bottle. Over there now, okay, don't look down. And coaches himself over a narrow meadow footbridge, fifty feet above the ground
'A historic first': Muny postpones summer season until 2021 because of pandemic
"Season this this is Kevin Killeen muny fans have often walk through Forest Park on summer nights on their way to the open air musical theater but not this summer managing director Kofi Coleman says there was no way to have even a shortened season and guarantee everyone's safety during a pandemic we'll see you next year you know we're gonna we're gonna miss you would have missed the opportunity to gather but you know we've tried only book and this is this is the best choice we believe for for this community and you know we'll go forward and we'll be back we'll be back in twenty twenty once your this year shows would have included and all that Chicago seven brides for seven brothers and the sound of music plans call for shifting the entire line up to next summer Kevin Killeen said loses newsradio camelback
California - MTC releases plan to distribute $780M in federal funds to transit agencies
"The agency overseeing transportation funding in the bay area has given the go ahead to distribute nearly eight hundred million dollars in emergency aid to the region's transit operators KQED stand breaking reports the metropolitan transportation commission approved a plan to split federal coronavirus relief money among barred muny AC transit and twenty one other agencies those funds will help the systems deal with immediate financial needs with ridership and fare revenue vanishing during the pandemic the MTC still has another five hundred twenty million dollars in emergency aid to hand out that will happen this summer but only after a panel of MPC members transportation providers and bus and rail advocates works out a formula to prioritize support for agencies that serve the region's most transit dependent
Trump Claims U.S. Testing For Coronavirus Most Per Capita
"President trump and the coronavirus task force providing the nation another update on steps being taken to manage this pandemic one of the key developments identifying an antibody that is enabling some people to fight and recover from the disease were now conducting well over one hundred thousand corona virus test per day it's over at that hundred thousand tests today and these accurate tests and then moving crap Italy which is more than any other country in the world both in terms of the wrong number and also on a per capita basis the most the FDA is also authorized the first coronavirus antibody test developed W. selex ES key has stepped that will help identify people who have recovered and to understand their muny response and their immune system by directed secretary ETS are an acting secretary will to use any and all available it's already under the defense production act to ensure that domestic manufacturers have the supplies they need to produce ventilators for patients with severe
'Don't guess entry points': How advisers handle their own money when stocks tank
"Tax now money tax in the future money and then there's tax never money in the sense that you got it out of the way in the form of a Roth right and there's also things like a muny bonds that could have some tax favorability that's that's built into so tax diversification is huge but putting that to one side in going back to what we started off the show with here HM stock market this week I mean that this is definitely this is been one for for the record books yes yes makes my eye twitch well if if that's all it's doing for you is an eye twitch I I think you're doing better than a lot of people yeah I know I'm I'm I'm putting it mildly but yes it's hung it look it's almost like a a sucker punch but you know it really Wallace yes huge yeah and I was reading a report just recently from the format we fall in and they were kind of breaking things down and what would you think about it you know number one three months ago the market has had never been this high right so so we hit this this all time how hi the dial the drop that we've seen here it's a big one yes now it hasn't exactly put a dent in the maybe a minor one dad but it would have to put a massive dent in the overall bull market that long term investors have you know been experiencing for more than a decade now it's coming up here Jan March nineteenth you know if we make it March ninth of own nine till till now would basically hit the eleventh year of a bull gap which is the longest ever as you said that's unheard of yes yeah but the double close you know you see the Dow's first close above twenty eight thousand points came on November sixteenth so even though the Dow he does lost a few thousand points here it you know it probably only cost you know long term investors a small portion of the games that they've enjoyed being invested over the long run for these last going on eleven years that makes sense yes actually does so is it a sucker punch yes does it knocked the wind out of you absolutely some of that is just being spoiled as we have been for eleven years yes and this this epic run that we've seen just go from the start of two thousand nineteen in which you saw the S. and P. last year up you know twenty five twenty six percent nasdaq over yup thirty percent yeah it hit you hard but number two selling gonna make a point you're selling after a big drop has historically been a bad move yes right panel II can't you can't but you have to be cautious there's you do want to take certain action making sure in assessing how much risk you have and what the the worst case scenario would be but it it's hard to whether a big down day in the market you know but it happens yes you know in in bad weeks come along with it you know but here's one consolation history does give us you know many many examples of nice rebound to have follow tough days yes you know if if we look back Jen that happened during the major market crashes of nineteen twenty nine you'll be a great depression era that happened in nineteen eighty seven black Monday and there were the market dropped twenty two percent that day you know I'm at the mention that I think we had a bad week look at that that's true yeah in your you have to go back that far again there were several occasions during the financial crisis of oh seven oh nine when when huge balances immediately followed massive downward move so panic selling after a big drop means you'll miss out at an any balance that comes after that and I get it sometimes you honestly know what this is becoming a little bit uncomfortable for me Gasol so maybe I should shift you know take some of the chips off the table take some of the profits while I have them it shift some of the major one citing guess what maybe you do that and then if this does continue to slide down at some point you look for a buying opportunity and then you could basically kind of dollar cost average on the way back up if you're putting money in over over time but this can sometimes eat itself too much too quick you miss a balance and that can leave you in a very difficult the position that put you into a spot where you're trying to decide when to get back in yes right so you got out and then you can miss the swing missed the kind of bungee sport court going back up yeah exactly so your number three don't don't lose your long term confidence in the market you know it if you look you know too much at the risks involved the stock market investing in a single day or even a week or a month consecutive panic it again I get it sometimes it it makes sense yes it takes some of the money off the table but you don't want to go to an all out panic exactly right so market ups and downs are ever present but when you look at a longer term horizons Jen you know you'll you'll find that it's rare for stocks to to post losses long term in fact over a long enough period of time such as twenty years the broader markets over twenty years have never suffered losses now again that depends on your age your
Pedestrians struck by car in San Francisco's Mission District
"The drivers that arrested for slimming to three pedestrians in San Francisco's mission district today KCBS is Kerry how to separate ports two of those people are in critical condition always here at the scene of the accident at twenty third and mission streets say the driver of a Burgundy Toyota Prius plowed into three pedestrians just before four thirty Wednesday afternoon striking a man in the crosswalk hitting him against the side of a muny bus the car then jumped the curb on mission street and hit a man and a woman getting off the bus at a high rate of speed San Francisco police sergeant Frank Carroll simultaneously we had a muted bus traveling northbound which had a green light crossing an intersection and somehow this driver of this Burgundy yes xcelerated a high speed making contact with the bus and injuring a passenger that was in the crosswalk basically sandwiching the person the men are forty nine and thirty four years old each suffering life threatening injuries the woman was treated at the scene this mission resident couldn't believe what happened everybody was on the police they have this was airing on next season kind of sad the driver is now being evaluated for drugs and
The Popularity Of (And Problem With) Municipal Bonds
"Nunis I've been reading quite a lot about this recently in the press hearing hearing Sort of financial TV wise the market for municipal bonds. So hot right neue. Bottom line ever since The trump administration past their new tax tax laws and ever since we are only able to write off a maximum of ten thousand dollars of state against federal and we are really a hamstring. About what our deductions are people. Don't WANNA pay taxes. What is the one area that has left municipal? Oh bonds and it isn't that they are some juicy and high yielding no. It's just that they have been relatively safe and You earn interest. I federal tax free. And if you buy municipals in your state from your state they will be State tax free so all the big tide tax states California Illinois Annoy Massachusetts New York Blah Blah Blah. You know the names those are. The resident said have been buying municipal bonds like crazy road. So they're all after this type. They're basically after taxpayer. They want to save money on Texas. They are but here's the thing about municipal bonds little people think that all Muniz tax exempt. But that's not the case right. That's correct there. There are taxable municipal bonds. And the reason why they created those is the The cities that counties the entities that issue municipal bonds almost almost all have some kind of ceiling on how much they can issue annually and one say reach that ceiling then they can no longer issue tax free bonds and they have to issue issue taxable municipal bonds which are pretty competitive with yields on corporate bonds but my understanding is that those taxable bonds are still just as popular all pillar the tax exempt bonds between the municipal world. Why would that be? It's it's the race for Yael. Everybody wants wants yield and we even find foreigners are buying both tax free and taxable income. Yeah well and you say why would they do that. When you've got negative yields in Japan and in the euro-zone all they want is a rate of return on their money? They don't WanNa deposit their money and have to pay the depository money to hold that money. So we I have this crazy thirst for yield right now. Why why do we have that? Why does that exist? Well we have it because Number one the negative yielding global. Oh bonds have never been more powerful number two if you are an actuary meaning a pension plan A insurance company that has actuary reliability. You have made You have made promises that you're going to be able to produce x amount of income and X.. Amount of capital capital gains a year and that x amount of income has become more and more difficult with the negative yielding bonds globally. So people want to save save they want to invest and they WANNA positive rate of return. So where do they go. The United States of America Corporate Bonds Immune E bonds attacks won't Mini-van so busy because interest us rates are so low. It means that you're not getting the yield on the normal stuff that we used to get sort of ten years ago that yielded quite nice returns to now. You've got to go to more risky things. You absolutely absolutely do or just suck it up and say well. I guess I'm GonNa only earn one point. Four percent on a California general obligation bond in ten years much sex due to go to the junk bond market well the perils. They're quite different than the muny market. But junk bonds are quite popular right now. My understanding is I was reading something the day. WHOA whoa speaking about junk bonds? We should also talk talk a little bit of bites. I don't if you know but this becky with the good yield you know about this becky. No yes you know becky because you spoke to us when we bought a junk bond for Cardiff Garcia. Oh yes MRS homebake off shore drilling just a company that he did not so call becky with the good yields and actually that bond is not jim typically where we bought it to ninety today. It's trading at a bite de to seventy four ninety two so were down a little bit. But that's actually across the junk bond market. The prices are up because people are chasing that healed. And how what does that mean for the economy. Is that a dangerous thing if people are chasing after this high yield dangerous if the economy stumbles not just the US US economy but the global economy. And a Becky I understand then must be in the In the energy area is that correct so one of the worst performing areas in the United States all of last year. And what's happened in the energy space just like the regular investment in space is that corporations have taken on so much debt we are talking trillions and if the economy stumbles and Business starts to your road revenues. Then go down. Interest coverage on the debt starts to deteriorate. And we're going to start seeing it when that happens happens. Many more defaults domino's right the domino theory thing goes on the whole goes on a very very quickly whenever you're leveraged switch or could go slowly because so many people especially in the in the junk bond market last year thought hall. This is the year. We're GONNA have major defaults and it didn't happen to any consequence foot skip onto Muniz. So what else should investors be worried by looking at municipal bonds right no well. The CONGA line is pretty long as far as natural disasters and You know hurricanes and everything that's climate change but I would say one of the big things now that we watch every day that we have a person that scans every news news feed around is cyber attacks cyber-attacks exactly city of Baltimore has been attacked. There have been multiple attacks in small cities in In Florida there was a trauma one health center in New York that was attacked and because they didn't pay the ransom they were down for over two months. And and what does that mean to a bondholder. Why should they care? You have many of those and they have to pay the ransom number one which was not budgeted for or their insurance difference for cyber-attacks. Goes up astronomically. Then you as a bondholder. The amount of money that they're taking in annually starts to get skimpier and skimpier because they have have to pay all these bills that they hadn't budgeted for and you the bondholder have less and less security interesting. Do you think that these risks whether it be the climate change inge risks or these kind of security risk cybersecurity risk are they priced into the bones in your opinion not at all not at all. It's too it's too early for them to have priced it into the bonds uh-huh and I only see cyber attacks getting bigger and stronger and more profitable for the cyber thieves a more devastating for the bondholders holders
Parking Meters Across NYC Not Accepting Credit Cards, Were Never Programmed To Work In 2020
"Some New York City muny meters have given up plastic the department of transportation's as some of the meters cannot accept credit cards because the software they use is not set to operate past January first twenty twenty officials are blaming Parkey on the vendor for the parking system city crews are currently reconfiguring individual meters to fix the
California Focuses on Mass Transit Preparedness 30 Years After Loma Prieta Earthquake
"When the eighty nine quake badly damaged the Easter bay bridge was the first real test for the bay area's mass transit systems KCBS is Megan goals we reports it's a test that officials say they're ready to take again when the six point nine Loma Prieta hit the clock started ticking for bart to get up and moving again with officials knowing that would happen long before the bay bridge would be drivable we were able to return to service within twelve hours and it was an important stop time for bart because the bay bridge of course was damaged and so we were the only game in town and Jim Ellison who speaks for bar says they are prepared for that to happen again when the next big quake strikes with our earthquake safety program that began in two thousand four and that is nearing completion and so now we're focusing on the interior of the transbay tube making it really resilient for an earthquake that occurs every one thousand years for their part muny has devised earthquake safety guidelines and say that if you are on a bus or train during a quake stay on board it's actually a pretty safe place to be drivers will be given the all clear before they can move again and that could take sometime if there's damage there's also plans to say about the electric buses with traditional ones in case the powers knocked out in the case of a big quake the ferry system will be a good bad in fact it was the eighty nine quake that made the bay area's ferry network what it is today as more and more people were forced to use the water to get back and forth across
What is an inverted yield curve and what does it really mean
"What's the yield curve in version and does it mean we have to go into a recession because we don't want to right right so are you a current version means the short rate or the federal funds rate that is is or the two year rate is higher than the ten year or the thirty year upside down right the the long you take longer duration risk and you get less yield which that make any sense puppies kissing Katie's it just this is the world upside down it's pretty crazy yeah that the thirty year treasury trading at a just under two percent this week you know you can get more than that in a money market yeah that's okay well yeah I kinda like that no duration vanguard money market it to point to an Wes where we put the good save cash because I don't have any good muny sin I don't have I don't have a good place for it and I'll just keep some dry gunpowder maybe a third of the portfolio right there and that's the first investment strategy discussion if you don't like fluctuation there's there's a choice out there that's better than zero in cash one of the banks are still paying zero on big check and balance meanwhile yeah yeah you have to call them up and say Hey I get to I need to or close to it yeah and they get that for you yeah thank you we did an analysis interesting way on on the thirty year treasury yeah and currently priced at thirty two a two and a quarter percent coupon to twenty forty nine trading at about one of six and about a two percent yield okay if you get a move to zero right yeah which is that big price goes to almost one seventy I mean to make you could make sixty percent in a thirty year treasury you can make sixty percent if the thirty year went to zero and I don't know how likely that is no Greenspan as one of our headlines let me get to the Greenspan headline because that relates to it we got to skip around here to get the exact Greenspan says no barrier to prevent negative treasury yields he's never been wrong by the way Greenspan well we've all been wrong that's just part of the opportunity you get every day it's just better to admit it but he's so so what I put on that headline is is there no limit to duration stupidity now having a treasury go with the price that that makes me feel good but what happens if the yields just go back up to where they were last year all right Sir you're gonna take a twenty percent hit on Capitol for that treasury right so if you went from two to back to a three on the thirty year price goes from one of five eighty five yeah so if I put a million dollars and then I could wake up at eight hundred thousand you really good yeah yeah yeah and I would not be happy about that in a good safe treasury bond no no that's not when they when they sell you the long term government securities fund in the four one K. they don't tell you about duration risk it's not it's not explicitly spelled out like it is on the Bloomberg charts at network radio dot com right there okay so thank you for doing those charts what else did you see on those charts well if you want to get it if you if prices stayed stable how long would it take in coupon payments actually get your money back in this twenty three twenty four years twenty one time twenty three twenty four years so you could be stuck in that long term government security that's what they call it long term you could be stuck for full time if rates go back up okay just pointed out that yeah yeah so we're selling premium duration where possible and we're looking at global high yield and energy
"muny" Discussed on KCBS All News
"To ride muny for free on event days under the deal anyone with a ticket to have it at the chase center will be able to board muny on the day of the event by showing their electronic or physical event ticket as proof of payment warriors president and chief operating officer Rick welts says the team is investing millions of dollars in transfer an infrastructure to make it as simple as possible to take public transit to those events San Francisco will be the second city after Phoenix to offer free public transit to NBA fans and concert goers what will be an unusual get together in Rohnert park Friday evening at the cinema county sheriff addresses two thousand members in the Latino community KCBS is Jeffrey Schaub reports a sheriff mark as sick wants them to know that his department will protect them regardless of their immigration status and the walls act as agents for ice my name is mark as sick and I'm the service in a mechanic mark Essex says he takes a different position than others in his profession he wants to greet immigrants no matter their status with open arms if you the victim of a crime you can feel safe reporting crime the sheriff's office and not worry that the sheriff's office is going to try to investigate your immigration status and if someone's afraid to report crime because they think the sheriff is working with ice that goes contrary to our mission Essick will speak at a Mexican music festival held monthly at the great and casino in Rohnert park run by the federated Indians of the great and rancheria we're Greg serwis is chairman he invited Essick to the event he says he feels passionately about the need for everyone to get along we're almost at the four ridge of a kind of civil war between law enforcement and people of color it can be easily solved in Rohnert park Jeffrey Schaub KCBS villain Sacramento this seeks to fund a regional approach to tackling the bay area's housing crisis receive some support from the board that would partially oversee that money the bill AB fourteen eighty seven which aims to create an affordable housing antenna protections fund was introduced by San Francisco state assembly member David Chu in February if it passes in Sacramento the issue would be before voters on the twenty twenty ballot at a meeting of the metropolitan transportation commission which would have partial authority over the money housing advocates expressed support for the bill including Laura foot executive director of IT UMD action that is the hope of this body is that.
"muny" Discussed on KMOX News Radio 1120
"For MGM he was the muny promotion man and a columnist for the globe Democrat on the post dispatch for so many years he's been out of the paper for a quite a few years but some people recently that's where is it what is what I will find out by Wednesday if he's still around what happened to that Bobbi Greenlee's kidnapping money wow interesting yeah has a lot of money now I can I don't have the money and I don't know where it is so we can talk about where a lot of people think it may still be never found whatever the Saint Louis Ford model T. factory made a Lotta model keys here about Jack the Ripper Jack the Ripper from London actually was in Saint Louis but what happened to him here what's yep but he was here he was there's a lot of things people have no idea connections in the community here wow how about that there's more there's like nature's remedy was a product I was a laxative product the slogan for nature's remedy was in our tonight tomorrow all right I I don't know it was made by the same job Louis how company that made Tom's for the timing of course that store around what happened to it so many people wondered optional for a home I got for so many years over a hundred and fifteen years now what happened to the Ferris wheel from the nineteen oh four world's fair how interesting and people swear that it is still there underground but if we're going to find out more about that we have some experts that have told us the whole story on that what happened to the girl and swine statue from Vander than place which was they are probably our finest private place which that's all gone torn down what about the first fox theatre in Saint Louis whatever happened to them not to fox theatre that we know there was another fox theatre opt also owned by Mister fox himself what happened on this bush senior what about the nineteen fifty nine veil profit queen of the Spanish pavilion that came here from the New York world's fair the nineteen sixty four world's fair at the castle ballrooms Cinderella theater the fountains in the low state lobby what about Eugene field that we know what happened he's long gone but what about his great grandchildren they were still around what happened to K. X. okay radio well the list just goes on we're going to minus ninety minutes fast my my you just gave Charlie Brown and an idea for his next book whatever happen to Saint Louis you know I'll give it to us what a great great idea for a presentation and like all the other presentations is at the history museum right inside of Forest Park you can park on Lyndall maybe can find a parking space if you get there early enough with the doors open ten o'clock presentation at ten thirty still yes data runs noon noon time then we have that book signing up stairs with the gift shop for those who would like to do that what ever happened to this is coming up on Wednesday July tenth in Johnny rabbit I always have fun hearing about a little bit of Saint Louis history at a time you do an excellent job with them thank you for coming back on overnight America Ryan thank you very much any time and need time for our friend Johnny rabbit so news rum employment as drop there's a new study out on that plus majority conservatives don't trust social media like Facebook well no kidding is that right while are you sure your calculator that correctly we're gonna do both of those coming up on overnight America K. five our.
"muny" Discussed on KQED Radio
"Out this ninety an hour before a holiday weekend. Reflecting on what we love about San Francisco and William rights. It's easy to love the city's diversity preponderance of smart people. Mostly beautiful landscapes, nightlife restaurants neighborhoods location size, and the liberal, bent and politics. Peter, what are the things that? But you did was you road every Muny bus in the in one day, and you say that this made you fall in love with the city again. How did I mean I moved away from San Francisco during the first dot com? Boom because my wife and I figured that, you know, the East Bay would be our best chance to own a home. And I had even though I worked here, I had this growing frustration and I would it's easy to do is to focus on the few news stories that consume us and consume so social media and decide that the leaning millennium tower and the in the serious problems with drugs and rising prices are the entirety of San Francisco. But what Heather Knight, and I learned on this gimmick, which was to ride every Muny bus in one day is we, we suddenly got serious about it, because we learned that, if you travel through San Francisco randomly and start running into people and seeing the city in its entirety. You realize it's not all gone that it hasn't changed as much as. As you think it has the people that you run into make you feel the good feelings that you had twenty or thirty years ago, even if you're not feeling them, you know, commuting into downtown, and you grew up in San Francisco, but give us an example of what you saw that made. You say you know what there, I'm surprised that still there? Yeah. I'll tell you one thing that I absolutely loved was just rolling into a neighborhood. I hadn't seen in thirty years. Maybe my grandmother took me up to burn heights to the park once and I haven't been there in going up there in realizing, it's pretty much the same. I mean, if you just don't look at the downtown skyline, it's pretty much the same and I love the fact that, you know, people complain when a theater closes down when the coronet closed down there, so many great restored theaters in San Francisco, whether it's for live theatre, or the Warfield, which used to be a movie house for music. And then the new mission comes back in the mission. No one even knew this art deco theaters in the middle of the block in they restore that. I think there's a you talk about what's gone away, but make sure that your visiting all the things that are still here because there's a lot of things that are still here. We'll Parker writes about the architecture to I love the architecture of the city. I know there's been a lot of updates. But every walk I've taken through the city has never failed to be breathtaking and stunning. And let's go next to Elaine in San Francisco. Hi, elaine. Hi, I just wanted to talk about things. I, I loved at our dinner free. I've been here for about twenty years, and during that time I've turned into a senior citizen. I love that Muniz free for senior citizens. I love going for a walk in Golden Gate park, every day, the botanical garden, I loved our climate, I go to go shop in the mission on Sundays. I love the, the little grocery stores there in butcher shops there. There's so many things here that are. Easily accessible than aren't expensive. If you just open your eyes and be present in. That's those are some of the things I love about San Francisco. Thanks lane game. We're talking about what we love about San Francisco. And why in the wake of a Washington Post article that criticized it pretty significantly and we have a link to that Washington Post article if you're interested in purchasing it on our website, he acuity dot org slash forum again. If you wanna tell us what it is, what is special places in the city for you a memory or one of a kind.
"muny" Discussed on KCBS All News
"First Muny had issues linking train cars together. Then doors getting stuck in. Now, a power issue the smarting that crippled much of the system service all day a bad week for Muny big understatement. Phil. You're not telling the whole story. The other part of it is that simultaneous with all this, especially today's power outage, which knocked out trains. Also, having a shortage of bus drivers and trolley and train and cable car drivers. Because the union is in middle of negotiations with the city, and they're not happy with what the city is offering. And so there was a call put out saying, we're not gonna ask you to call in sick not gonna ask you to go on strike because you can't do that. But we're suggesting that you don't go and work overtime shifts until we get this resolved and the ugly. Secret about Muny is that these drivers most are working overtime shifts just to maintain the services it is. So even without a sick out. Just saying I'm not gonna work on my day off is made the problem worse because driver shortage this climbed to the level that someone's going to chime in there. We're going to hear from the mayor. We're going to hear from the soups. We're going to hear from the mayor. We're going to hear from the soups. If we ask for them to talk, but this is not something. No, we're not at the point where they're rushing out on the steps of city hall to say, we've got this under control. These are sporadic things that are happening around and sort of just annoying that the pants off of commuters are people that are stuck in traffic or trying to get home or to work this morning, but it's a long sort of Lydney things that are happening at Muny. I don't they're looking for somebody to try to broker a deal between the union and the city. These drivers are among the best paid in the nation. But it costs a boatload to live here. And a lot of times what they do is they get trained here. And then they go and get a job closer to where they live or where it's easier. So all of that is going around on Muny. There's a back story to everything. And that's the one on this. The trains are in trouble because they bought the ones that are questionable about the engineering everything from the doors to Lynch pins that hold the train. Together under scrutiny. The system goes down. One piece goes down the whole thing just backs up left and right and on top of that. What do you call it? It's not a sick out. It's not a slowdown. It's a I'm gonna take my day off reaction by drivers over a contract. So put it all together, it spells Muny KCBS in chronicle insider, fill material reminder that you can join Phil for his TV news interviews that happened. Sunday mornings at six on KPI x.
"muny" Discussed on KCBS All News
"Little after eight AM when some electrical lines came down downtown the latest from Uni the t line. Is running from Sunnyvale to the embark aero station as usual there are bus. Shuttles from west portal to downtown and Bart is providing mutual aid from Balboa park to embark Darrow to try to get some of these passengers to their destination. Huge lines were observed at market and Castro more than a hundred times Muny doing its best to roll the buses up to get them on their way. Tom head a fairly good attitude considering the situation, and it's not a typical commute for me. Surprising. I guess and here's a little bit of a power outage pal. But it's a nice day. So maybe I'll walk Goldman. There you go. There's a way to get around just walked to your destination. There's still no word what caused the overhead lines the fall to Powell and Civic Center station, or when they will be fixed. In the meantime in shuttle buses or Bart or why not walk reporting live in San Francisco. Tim Ryan KCBS. Thank you. Tim state indicate CVS for the latest on the mini situation on top of today's problems. So it's been frustrating week for mutinied writers in San Francisco due to labor issues involving the systems operators earlier this week, the president of the operators union posted a video on YouTube, urging operators to show the city and county of San Francisco what it feels like when operators take days off dozens of lines wound up short of drivers, according to Muny officials with some apparently refusing to work overtime, others calling in sick or taking family leave the chronicle reports there were slowdowns and delays on some of the system's busiest lines, including the fourteen mission. The five are full. Olten rapid and the thirty Stockton as well as the twenty two Fillmore the union and the agency are the midst of negotiating a new three year contract. A teen struck by a driver who police say intentionally drove into a group of predestines in Sunnyvale, Leslie this week is clinging to life as KCBS. Matt Bigler reports the suspect is scheduled to appear in court later today. The thirteen year old victim remains in a coma with bleeding and swelling of her brain. According to a police report obtained by the Mercury News. The left side of her skull has been removed to relieve pressure yesterday Sunnyvale director of public safety fund. No offer. Sympathies to the victims and their family who are suffering from this arithmetic event in the moments after the crash witnesses said the driver thirty four.
"muny" Discussed on KCBS All News
"Hundred seventy thousand dollars to date we've helped eighty-seven families. Stay in San Mateo county. All we've had zero defaults zero late payments realtor. Anti alita says the prices can be shocking initially market. You know, we're we're out there. We're showing houses, and she ends the dream of homeownership is still alive in San Mateo county Margie Schaefer, KCBS frustrated Muny writers in San Francisco over the last few days because of a labor issue that apparently is related to video posted on YouTube by the head of the Minneapolis union that video urged drivers to show the city. County of San Francisco, but it feels like what parameters take days off Muny recorded. A number of operator absences, saying some drivers called in sick, others took family leave still others said they just wouldn't work anymore. Overtime. The driver shortage leading long waits for buses and streetcars off into crowded aboard. When they finally did arrive, the San Francisco Chronicle identified some busy lines is unlike the thirty Stockton in the twenty two Fillmore in the fourteen mission as particularly prone to slowdowns and delays all this week, the operators union and Muny or in the middle of negotiating a new three year contract, a twelve KCBS warriors playoff series resumes tonight, we'll drill down to what could go wrong. What could go right for them after the loss in the most recent game. That's coming up on sports. Termites every morning. The McDonald's kitchen is a symphony fizzling tufty mcmuffin symphony. To the..
"muny" Discussed on KCBS All News
"Follow up? She says this case is not one of the four already reported measles cases in Santa Clara county. Buzzfeed reports that Google employees were told about it last week through Email and that the no is just a precaution. Epidemiologist Kathleen Harriman is with the California Department of public health. She says the infection, which includes a red blotchy skin rash is highly contagious. There's a term use called reproduction number. But what it means is how many people one person can infect if everybody around them were susceptible. So for measles at number is twelve to eighteen and to put that in perspective influenza is like one two three so far Twenty-one measles cases have been confirmed in. California this year. Carrie Hodousek KCBS Google has not yet responded to our request for comment. San Francisco municipal transportation. Agency officials last night reported problem on its the relatively new fleet of streetcars being operated in San Francisco. The alarming fine on a streetcar has sparked an investigation now SF MTA spokesman Paul rose tells capex five a shear pin broke off on a Muny train last Friday. The the pain is one of the things that helped connect community train cars together, though, says there were no passengers on the train involved in the cars did not separate. But the discovery has prompted immune out of check all its newer trains. Once we did that we noticed that one other ship in building on one other train so really out of the pundits caution. We have hold the two-car nutrients of the street as a result, the newer trains are now only being used on the j church line, and they are just running a single transplant coupled with a second train the SF MTA unveiled its new fleet of trains to much fanfare. The fall of two thousand seventeen. The trains rebuild as needing less maintenance and having better braking systems, some Pacifica and Richmond presidents are concerned about the death of two more whales that washed up on the bay area on barrier beaches this week KCBS mad reports marine scientists are investigating. It was fairly obvious where the dead WALE was here at the Brooks island regional preserve near Richmond. I can't see the whale from where I am on an observation area. But I do see a large flock of birds circling over a sandbar area. I think it's a good bet that is where the whale carcass is some were saddened to hear of the death of the world's largest mammals and many blamed humans. That's probably what it is and climate change and the water's getting warmer, and who knows Barbara Brown. The owner of the rigors loft wine company said the large carcass hadn't been bad for business. Maybe just the opposite. You might have a lot of people coming to see the fail wine..
"muny" Discussed on WBZ NewsRadio 1030
"The next one is ETF. So it's like, I can imagine, you know, the average person. Listen, what the heck am I supposed to do? So those calls, but then you know, you gotta make it all relative to the person who's calling me. My client, our new person just radio listener, of course. And again, like, you know, just quickly before the break, you see the tax free Muny bond commercial, and you should have Uni bonds for your retirement and all these commercials. You know, walking on the beach. Everything's great. I want to be. Yeah. Give me that piece the investments, but but again, it's all what is appropriate few taxi Muniz the benefit of of those courses for the tax free benefit. So if you have a non IRA non retirement account that you're in a high tax bracket in the you know, the the with as instead of investing in taxable corporate bonds are taxable government bonds invest in tax free Muniz, and you get the the federal and you could get the state tax tax benefit. So that could make sense if you want a conservative investment, but doesn't mean they're all conservative. They could be depending on the credit worthiness of the institution municipality offering that and so it depends on your tax bracket. And it depends type of account. You have some really help you if it's a Roth IRA or an IRA or a 4._0._1._K because tax free investment inside. There is a relevant. It's just taxable. Or are you know? The tax consequences. Come when you withdraw it. So, but of course, a regular account with you withdraw a notch. You get a ten ninety nine every year for any taxable interests that dividends or capital. So another long winded answer, but that's just. These these commercials are all our products that may be appropriate for you and not appropriate for you. So out of that when you said, you know, somebody actually did that was that you knew the clients, so well that instantly you're able to go you let me tell you. And this is why that's not right for you. Exactly. And then that person's able to go. Oh, I was just kind of curious to worry about that commercial. I'm now educated going. Is not for me. But for the average person when you're sitting there on the receiving end of all those different commercials. You sit there going, oh, maybe I need that. Well, maybe I should do that. And we sit there and at the end of the day. We're like, I don't know what I should do. They all sounded good because the picture of the walking on the beach. It's like, yeah. That's the end result. That's what I want. I don't know how to get a picture of someone walking on the beach. Going. This is more available in the marketplace today than before. Exactly, that's the whole. That's the key. Right. And if you are unaware of how investments work our financial product before you invest any money in it. You really should do you do diligence in not just, you know, invest in something what thou doing your research or having someone do that research for you, even if it's being offered to you. I don't wanna get into all Newington. Right. I really don't. But there are a lot of nudey products out there that offer income like guaranteed income that comes along with the new itty, but it's not your real money. It's just an accounting value that the insurance company uses so we see many commercials a lot of marketing that goes along with commercial. So you as a consumer because they know what you're thinking so to speak. They know that you're worried about income for your retirement in the money lost vulnerabilities. There you go. But what you need to understand is an set up before. And I'll say it again. Because again, we've been. Doing this a long time with the newest there is a good. There's a lot of good annuities out there. There is the bad. And my opinion Paul's opinions a lot of bad annuities out there, the the ugly and the very ugly. And so you need to be careful because we've seen it so many times with people coming into our office with me for the first time and the first time, and they purchase us a nudie a couple of three years ago, whatever it might be. And they thought they had some type of guarantee on it. But they didn't realize the differential between the guarantee and they're real money. And they certainly most many times it realize the annual fees come along with those type of annuities. So before you invest in any type of annuity. You should as a consumer just understand this annuity product may sound good. But I need to compare that with several other annuities and see the benefits between each of them. So that I'm making sure that I've done my due diligence. And I'm finding the best nudie for me. If an annuity makes sense for you. So in that could be the same. With mutual funds. It could be the same issue. It could be same with any type of investment that before you go ahead, and you invest in that particular financial product, or mutual whatever, you should know all about it. And you should also know about its peers in its performance and its history and all of them, and when you're saying due diligence you're also talking about get a second opinion on stuff because sometimes people are like, oh, it sounds so good. It makes so much sense. And all I really care about is making sure that I have monthly income. That's my bottom line, the marketing out there for products is either, you know, they know that two biggest fears that retirees face is making sure they have enough income and making sure they don't lose money the money so fair cells. So that's the big thing is with a lot of these products. You know, there's a big compensation for the professional offering them. But you know, that's not terrible. I mean, you know. The people in business. But is that the best benefit for you for that for that? You know, what the professional is offering. So you just really want to do diligence. And I talked about an previous shows, especially, you know, certain investment products like annuities. They have a long term commitment that that what they call us under schedule Joanie and different companies have different products, like one annuity company might have ten different annuities, and some have shortest are under schedule some have a longer, and sometimes, you know, might just be the different compensation to the professional, which is seems kinda crazy. But what I would say is that when you are, you know, it's one thing if you are investing say in a mill load index mutual fund or exchange traded fund, it's basically it's liquid practically speak, you know, especially in ETF you could sell it today. I mean by today and sell it tomorrow might go up and down value. But you're not committed for so many years to keep that investment. But when you invest in an annuity. Not that it's good or bad. It's just a long term commitment. If you understand the benefits and that commitment is okay. But you know, it's should do more of a due diligence because it's a long term commitment. It's not just something you can change your mind tomorrow. It's just like, you know, choosing social security pension options. You know once you choose. That's it. So you wanna do you do diligence before you choose, you know, things that are going to affect you know, social security and pensions, they affect the rest of your life, possibly spells his wife life and also maybe a family's inheritance. Depending on what choices you choose especially with pensions. So crazy that and we we did the money minutes on it that that all week ahead people asking me about some, you know, some of those questions, and it's really nice if you have a pension here and there, but Mike goodness that making will come in with pension with the pension packages. It's all the different options pension benefits in could be twenty different options this single single life with survivor seventy five percent fifty percent Pasha lumps. Tom full lump sums single with term certain five ten twenty years..
"muny" Discussed on Biz Talk Radio
"Risks by increasing the importance of the ordering of investment returns in retirement. Translation. First of all when you go from accumulation to decumulation, it's not only a change in investments. It's a change in investment mentality. I was speaking with Steve out or last hour as a matter of fact, and I said, well, what would be wrong in this rising interest rate environment and rising real estate price environment. If instead of buying an investment property using leverage with higher interest rates to replace some of my bonds in my retirement portfolio with an all cash investment in a rental property. And of course, he logically said, well, why don't you buy two or three of them used leverage and make more money? Well at forty five maybe that's the objective that sixty five. Maybe what I want is a check. Every single month that I don't have to worry about the difference between accumulation and de cumulation, what is your d- communication strategy. And then the ordering of where you take your money from those decisions are critical because remember as we've discussed you've got pretax money in IRA's 4._0._1._K's and so forth. You have post tax money and your brokerage account Muny bonds, CDs stocks. You have Roth money, which is all tax free coming out, but post-tax going in and then you have tax deferred money in things such as annuities and our real estate real estate. You have to pay capital gains tax upon sale.
"muny" Discussed on BizTalk Radio
"Risks by increasing the importance of the ordering of investment returns in retirement. Translation. First of all when you go from accumulation to decumulation, it's not only a change in investments. It's a change in investment mentality. I was speaking with Steve out or last hour as a matter of fact, and I said, well, what would be wrong in this rising interest rate environment and rising real estate price environment. If instead of buying an investment property using leverage with higher interest rates to just replace some of my bonds in my retirement portfolio with an all cash investment and a rental property. And of course, he logically said, well, why don't you buy two or three of them used leverage and make more money? Well at forty five maybe that's the objective at sixty five. Maybe what I want is a check every single month that I don't have to worry about the difference between accumulation and de cumulation, what is your decumulation strategy? And then the ordering of where you take your money from those decisions are critical because remember as we've discussed you've got pretax money in IRA's 4._0._1._K's and so forth. You have post tax money and your brokerage account Muny bonds, CDs stocks. You have Roth money, which is all tax free coming out, but post-tax going in and then you have tax deferred money in things such as annuities and or real estate real estate. You have to pay capital gains tax upon sale annuities you pay ordinary tax upon sale. So there may be some tax arbitraging that you need to learn about all of these decisions are critically important when we talk about the visible spending constraint. Then we go to heighten investment risk retirees experienced heightened vulnerability to sequence of returns risk once they are spending from their investment portfolio. I've spent a lot of time on this in the past because it is perhaps the least understood and most serious risk that retirees face sequence risk means that if you retire on the wrong date and other words in the wrong timing you enter retirement during a period of negative or dismal or low returns. The longevity of your assets goes down substantially. He says the dynamics of sequence risk suggests that the retirement prospects for a particular group of retirees could be jeopardized by prolonged recessionary environment early in retirement, even without an accompanying economic catastrophe. In other words, if you retire and the market goes bear or we enter a recessionary period that lasts a while like nineteen sixty six to nineteen eighty two. I could quote a few others. Then the survivability of your assets and your retirement goes down significantly. And this is why I have talked about these fifteen year cycles, and why ten to fifteen years before retirement you've got to get your plan. You cannot wait. Until six months before retirement to put your plan in place now may work out. It may not. But if the recession hits shortly thereafter, it may really really upset the plan if it hasn't been implemented well in advance. Very very important the next one unknown longevity having a long life is certainly wonderful. But if you run out of money, it ain't so much fun. So what is your game plan for longevity?.
DNC votes to limit role of superdelegates in presidential nominations
"Well Democratic Party leaders have. Now voted to limit their own influence and choosing presidential nominees the Democratic National. Committee overwhelmingly voted to limit the influence of so called super delegates starting in twenty twenty those party leaders won't be able to vote in the first round for a presidential nominee at. The party convention they will be able to vote if, the nomination takes multiple rounds however this gives more weight to state primaries. And caucuses changes come after two years of negotiations stemming. From the bitter nominating fight in two thousand sixteen between Bernie Sanders and Hillary.
"muny" Discussed on KCBS All News
"Council Time to, check in with Alden Jacob once again, kind of quiet out there right. Now it's it's. Fairly quiet San Jose though it's a little. Peculiar to eighty southbound at Stevens creek boulevard there was a hit and run crash but it was just a solo crash a car hit. A light pole it fell down and so it's blocking the intersection right now so -mergency vehicles are trying to move that out of the way as. Well as trying to get some information on where this car, went luckily delays are pretty much to a minimum there. South city one zero one northbound the ramp or the onramp I. Should say from San Bruno avenue you have an overturned car that brought CHP to the scene but luckily now much of a delay there as well and Dublin continues to be a trouble spot. Because of two spots eastbound five eighty between six. Eighty and hop yard road. Eludes the two right lanes for cowhands work and in the Rams from six eighty north and southbound two. Eastbound five eighty are both closed you should probably head towards five eighty westbound exit Sandra Moan road and then you can. You turn onto eastbound five eighty your, next traffic update three twenty eight on, the traffic leader KCBS KCBS six. Day forecast today. Mostly cloudy at the coast even after the. Fog and drizzle go away sunny but a bit hazy inland highs today low sixties at the beaches upper sixty s along the bay upper. Eighties inland as for the rest of the week and on into Saturday partly cloudy at the coast after morning fog sunny skies along the bay and. Inland highs in the low to mid sixty s at the, beaches upper sixty s to mid seventies around the bay. Mid eighties too low nineties inland right now in San Francisco Cupertino. And San Mateo it's fifty five degrees in San Rafael it's fifty three degrees in walnut creek it's fifty seven degrees in Oakland it's fifty nine degrees traffic and weather together on the eighth on. All news one oh six nine AM seven forty. KCBS S. being late is not a good way to make a good first impression on your first day of school but that may be the case for thousands of. San Francisco students this morning because of a shortage of Muny operators KCBS Scotla teary explained well. The good news. Is part time operators have been transferred, to fulltime operators Paul rose. From union however the San Francisco Examiner reporting that as many as fifty six thousand students returning to school on, city buses Monday will face service delays and, longer wait times because of shortage of some one hundred and fifty Muny operators still we're doing everything, we can to ensure that any delay to students getting to school people getting to work is minimal good idea, to get an early. Start already believe we will update our. Riding public as soon as possible earliest. Possible we'll let you knock any. Extent gap on some of the lines going forward enter follow that real time you. Could follow. Us on Twitter at at Underscore Munich San Francisco unified school district study showed that from twenty ten to this year over half of high. School, students say they take public transportation. Home from school in San Francisco Scotla. Terry KCBS clothing banned, from, Alameda city schools will be allowed this year under a new dress code being tried on a trial basis the San Francisco Chronicle reports the new policy is among the most permissive in the bay area it leaves it largely up to the students and their families to decide if clothing is too short or too revealing Alameda is new dress. Code was modeled after a suggested policy created by the Oregon chapter of the national organization for women supporters say the. Policy challenges the notion that girls should be responsible for ensuring that boys are. Not distracted by clothing it also eliminates rules arbitrarily enforced by school staff After being released from Santa Rita jail at one thirty in the morning last month's Jessica Saint Louis was found. Dead from a suspected overdose at a Bart station last night activists held a vigil and said there should be, an end to late, night releases from the jail Jessica Nowlin is the executive director of the young women's freedom. Center she says she's heard terrifying stories for Mormon Released to dangerous situations not, having clothes. Not having access to phone calls heard a cabdriver you're seeing lined up outside offering rights for sexual favors absolutely not the Alameda County sheriff's office says though that the inmates cannot be detained longer than their jail terms they're defending the practice of, releasing inmates in the middle of the night Dutch. Brothers coffee is holding a fundraiser today for the family of fallen CHP officer Kirk GRIs he was killed along interstate eighty and Fairfield earlier. This month during a traffic stop officer griss had just pulled over high me Manuel when. A pickup, truck slammed into both of them, killing both Sean Walker was charged with two counts of gross the. Hitler manslaughter and one count of reckless driving he posted bail and. Is scheduled, to be arraigned in Solano county Superior. Court on September twelfth Dutch brothers coffee says the company will donate one, dollar from. Every drink sold at its Napa Fairfield and Vacaville locations today to griss family saying that the officer was a frequent customer the Marin sonoma's smart train celebrated its first birthday over the weekend with free rides KCBS reporter Bob Butler says ridership has, been strong and the agency plans to extend service. To the large spur ferry terminal.
"muny" Discussed on KMOX News Radio 1120
"Rap sponsored by steeple I'm peril Daniel stocks in. The US and Europe skidded last week as investors worried about. The financial stability of Turkey and how I might affect the global financial system investors sold stocks and bought US. Dollars in government bonds Friday the dollar also rose against other currencies as the Turkish lira nosedived the Dow fell. One hundred ninety six points the SMP fell twenty and the NASDAQ composite lost fifty two points the federal government racking up seventy six point nine billion in. A deficit in July with increased government spending, and tax cuts keeping the country on track to record his biggest annual deficit. In six years taking a look at this week coming up we'll get retail sales figures as well as the homebuilders index and consumer sentiment I'm Carol Daniel and that's the weekend Wall Street rap on NewsRadio eleven twenty seven forty two at. The voice of, Saint Louis coming up about seven fifty one this morning Today ham has. Part two of his interview with Mike. Is exempt, who's discussing the future prospects. Of the Muny so that's something to look forward to Harry and at another quick check of our traffic here a lot of tour buses that I'm. Starting to see now are shuttle buses not really tour buses boy there are a lot of cars already on the Fenton logistics parking lot but as far as traffic. Goes it's in pretty good shape I don't see that many. Cars this is nothing like we were seeing of during the week and it's amazing to me just thousands and. Thousands of people you know the PGA doesn't give any estimates as far as crowd sizes but they were saying. Yesterday on CBS that their record breaking crowds and they can't say enough about the fans in Saint Louis and that's just a good thing when you see. That when you're in the national spotlight like, that and you hear such good things about our our city where we live. So it's good traffics in good shape right now you're in pretty good shape southbound two seventy as well as east and westbound sixty four and.
Sessions backs Rosenstein and rebukes GOP for attacks on DOJ
"Surly as October NPR's Hansi. Lo Wong reports US district. Judge Jesse Furman wrote in his opinion that the decision to add the citizenship question may have been motivated by quote, discriminatory, animus and decision was made by commerce, secretary Wilbur Ross overseas. A census he has said the Justice department initiated the requests for the question to better enforce the Voting Rights Act, but internal emails released as part of the lawsuits show that Ross wanted to add the question soon after he took over the Commerce Department and Ross did show by overruling warnings about the question from the census bureau still judge Furman did note that the commerce secretary does have broad authority over the census. The plaintiffs he wrote quote, may not ultimately be able to prove that he exercised that authority in an unlawful manner. Ozzy Lewan NPR news, new York Attorney General Jeff Sessions is defending his deputy rod Rosenstein, Philip Martin of member station w. g. b. h. reports sessions used an appearance in Boston today to stand by Rosenstein who's facing an. Impeachment effort by House Republicans rod Rosenstein overseas special counsel Robert, Muller's, Russia investigation would sessions recused themselves from, last year Rosenstein has. Been a target of criticism from President Trump and House Republicans with members of the house freedom caucus looking to push, the deputy g. out of office over what they say has been a lack of cooperation in their counter investigation of the Muller probe but sessions applauded Rosenstein and urge congress to focus on the border instead my deputy rod Rosenstein is highly capable I have the highest confidence in him sessions was in town. To announce the arrest of, unauthorized immigrants accused of fraud and other crimes I'm Phillip Martin for NPR news in Boston. Vice-president Pence is demanding, Turkey release an American pastor who is now under house arrest accused, of supporting a failed coup two years ago release pastor Andrew Brunson now or be prepared to face the consequences Brunson was held in Jail for nearly. Two years President Trump is, threatening sanctions encore, calls the, threat unacceptable, this is NPR from k. q. e. d. news. I'm Jeremy Siegel governor Jerry Brown is declaring a state of emergency in Mariposa county due to the, massive wildfire there the blazes forced Yosemite officials to close Yosemite valley and the won't area of the park until Sunday you're seventy spokesman Scott Gettleman says the evacuation, of the parks most popular area will likely have a significant financial. Impact, on a busy typical summer day like. Today we'd have over three hundred campsites Paul up campers we'd have all the hotels and lodges Paul, restaurants given the fact that none. Of that is happening is both an economic. Impact in an impact to the, visitors the Ferguson fire has now scorched more than, forty three thousand acres and it's twenty seven percent, contained the Muny system in San Francisco is experiencing a high level. Of delays and cancellations This summer because the agency hasn't kept up with driver training. Needs that's according to a, report from the San Francisco. Examiner here's reporter Joe FitzGerald Rodriguez there were transit. Planners who. Knew hey. We're buying new trains we're buying new buses and we're gonna shut down one hundred year old. Twin peaks tunnel for two months and run buses instead the transit division sought common and yet the. Training division it. Just didn't gel they didn't train enough people, in time and now there's a shortage about Rigas says things may improve when the twin. Peaks tunnel reopens at the end of next month but some..
"muny" Discussed on WRVA
"Treasury bills and bonds generally you'll start to see interest rates go, up so if you're a saver and those kinds. Of instruments good for you but if you're a borrower if, you owe money to credit cards. If you're going to go. Get a mortgage or. Go get a car loan. You're going to see the cost of borrowing rise and if. You already own, bonds as interest rates go up the value of bonds goes down this is. A direct correlation this is not prediction this is mathematical fact bond prices and interest rates are on. Opposite ends of a seesaw one, goes, up the other goes down and generally these days the. Ratio was one in, seven a one percent increase in rates. Equals a seven percent decrease in Bonn values on long term bonds so if you, own bonds governor Bonds, corporate bonds municipal bonds, you need to give us a call to get advice. On what, you ought to be. Doing, about it at triple eight plan RIC let. Me shift gears other big news on Capitol Hill this, week on Monday. I was invited to the, SEC's headquarters to participate in a panel, on transparency in the municipal bond market bottom line is it operating fairly for, American investors this is a big deal and I'm. Really excited that the SEC's focusing on it municipal bonds are, bought almost entirely by individual retail. Investors corporations generally don't buy. Them institutions aren't buying. Them it's ordinary folks that. Are buying Uni bonds because they love the fact that they. Pay tax free, interest but the SEC has recognized that there are some problems in the Muny. Bond marketplace they convinced with this panel event we did on Monday they released a white paper that. Shows some startling information number one Thirty seven percent of the time, according to the white, paper investors have no idea what the markup is before they buy the bond in other words they don't know how much money. The. Broker is earning before they buy the bond and in a great many cases. They never even discover this afterwards either they have no idea what the prophets are because the prophets on the broker side reduces the prophet for you in? Owning the security in the, first place so that's a rather astonishing statistic and here's. Another one that's even more damning according to this white. Paper when investors are buying. Small dollar amounts of. Muny bonds under twenty five thousand dollars the SEC said the spread in other words the difference between the. Yield on the bond and the markup that what your net getting can be almost. Three percent this is for trades, less than twenty five, thousand dollars the SEC said you see when you buy..
Kevin Spacey Accused Of Sexual Assault By 3 More Men
"Represents thousands of construction workers in the plumbing pipe fitting and hvac dash our service technician field throughout the south bay they have been building it right the first time for over one hundred ten years stories we're following on k g o eight ten republican senator is warning president trump not to repeat the mistakes of past republican presidents by picking a supreme court nominee who turns out to be insufficiently conservative senator ted cruz of texas says fellow senator mike lee from utah would be a sure thing he cited former justices william brennan paul john paul stevens and harry blackmun who authored the rovigo wade decision that established a woman's right to choose all three were nominated by republican presidents three more accusations of sexual assault or assault are being investigated by british police against oscar winning actor kevin spacey jim roope reports police in britain don't name suspects until they're charged so all london's metropolitan police force will confirm that it was a vesting a total of six allegations against a man british media reported earlier this year that police were investigating three allegations against spacey dallas reporting three more to sexual assault one assault spacey's been accused of sexual assault or misconduct by several men says actor anthony rapp accused spacey of assaulting him when rapp was just fourteen if you drive in san francisco you know making a left turn on van as has always been a challenge and starting tomorrow vanessa will be losing the left turn lane at hayes street drivers will only have two places to go left northbound at lumbar and southbound at broadway all part of sf mta's three hundred sixteen million dollar then vanessa improvement project which will put muny and golden gate transit buses in.
23andme donating DNA kits to help reunite migrant families
"And me dot com or one eighty three and me has now agreed to provide the so called spit kits to test all immigrant families and their children ceo and would jetski tweeted we would welcome any opportunity to help some social justice groups such as the aclu say they support using genetic testing to help parents reunite with their children but others fear it could put people's dna in the hands of the government with no knowledge of how it will be used in the future live in the silicon valley bureau matt bigler kcbs thanks man in the meantime a group of san mateo county mothers has gathered donations and is headed for texas to try to help families who've been broken apart at the border kcbs meghan goldsmith has their story it was at a luncheon last saturday that congresswoman jackie spear was telling a group of women about her upcoming trip to mcallen texas to see the detention centers holding children for herself lily rae was there she talked about the contingent of congress congressional engine that was going to mcallen and brownsville and we said what can we do and we came up with this plan she a group of eleven other moms fly out today armed with clothes toys activities even kitchen supplies for the families in mcallen leah turk says it all came together very quickly lots and lots of people from our extended communities of brought things by and donated so it's not just the twelve she says as moms they just decided they couldn't sit on the sidelines children have been separated from their parents and their families and they need to be reunited and it is just unfathomable that this is happening in twentieth century united states of america and so we'd like to do whatever we can to support the kids and their families making gold speak kcbs it's going to be hot today and tomorrow in fact a heated visory is set to take affect at eleven o'clock this morning for much of the bay area and the high temperatures mean there's an increased risk of fire as well in san francisco where it's pride weekend officials will be working to make sure people protect themselves from the heat we get more on the story from kcbs's holly kwan it's always sunny on pride weekend but this is a little too much sun it's going to be in the high eighties especially in the civic center area with very little wind so it's going to be very very hot francis more is with the department of emergency management he says after three people died last labor day in one hundred six degree heat wave their opening the emergency management center on saturday as a precaution what they're worried about is the he building up in older homes both today and tomorrow we are looking at going centers but what we're advising people is that they should they should go to places whether it's air conditioning so it'd be libraries it could be malls it could be the movie theater the real fortunate thing for us is that the the the the the high temperatures are going to end by sunday so there's gonna be a big cool down on sunday coincidentally this week city officials held a workshop specifically on how to better keep an eye on vulnerable populations during extreme weather events hall want kcbs just ahead on key cbs i'm melissa call ross with the transit repair project that will affect faouzi ends of san francisco muny writers beginning on monday cbs news time.
"muny" Discussed on KCBS All News
"The muny metro system known as the twin peaks tunnel is being shut down for about two months the twin peaks tunnel closure begins five am on monday morning june twenty fifth and that's going to affect all k l and m rider that is san francisco municipal transportation agency spokeswoman erica kato who says that shuttle buses will be available for riders affected by the shutdown the agency also has created a writer guide video and posted it on its website let's talk about how to get around during construction kate angle side trains will run between saint francis circle and belbow apart and why is the twin peaks tunnel being closed reason we're doing this is we have to do extensive work to the interior fear of the tunnel between peaks tunnel opened in nineteen eighteen and approximately eighty thousand muny users right through it every day melissa call ross kcbs major decision from the supreme court just out this morning in the last few minutes regarding cell phones and the use of cell phone records in chasing down crime the supreme court in a five to four decision this morning which it emphasize is a narrow one says that cellphone records are protected under the fourth amendment in other words before law enforcement authorities can access them and use them in a criminal investigation they would need a search warrant this was a five to four decision with the opinion being written by chief justice john roberts he was joined by justices ginsburg brier sotomayor and kagan the court says it is not weighing on real time cell site records and does not consider other collection techniques involving foreign affairs or national security this was a case involving a man who was convicted based upon information gathered when the government was able to get cell phone data showing almost thirteen thousand location points cataloging cataloging the man's movements over a fourmonth period we'll have more from cbs news coming up at seven thirty one the fbi and oakland police have issued a public service announcement in effort to crack a five year old coldcase connell was killed just an hour before his twenty third birthday in two thousand thirteen police say was shot to death by two men after he rear ended their car the konno's mother maria cl amaro says that tells kpi five rather that she's hoping this is what gives the thirties investigating the case their big break i believe in inherent goodness of people even after all this i mean what is what do i have left but hope and hope is always the last thing to die psa revisits the route he took the scene the suspect's vehicle believed to be a silver four door nissan altima there's a one hundred twenty five thousand dollar reward leading to an arrest in the case so the twenty four now and time to check the key cbs super micro intel money desk report sponsored by air china jason's off the tree sikora is in and we are looking at numbers that are narrowly mixed the dow industrials up one hundred seventy five points twenty four thousand six thirty seven the sp is up twelve but the nasdaq is down about eight opec and allies including russia will boost oil production beginning next month after saudi arabia one over iran which opposed an increase the group says the accord will actually at about seven hundred thousand barrels a day to the market in the second half of the year because several members are unable to increase their output walt disney is prepared to sell off businesses generating as much as one billion dollars to win regulatory approval of its seventy one billion dollar bid to twenty first century.
MLB: Madison Bumgarner returns to the mound tonight
"The judge of the d bags tend to three the judge with ten runs on eleven hits with no errors and they left to five runners on base arizona three runs seven hits one error and six runners left on base the winning pitcher is pierce johnson when they starting pitcher leaves ahead but did not go the requisite five innings to qualify for a victory the official score is charged with deciding well which pitcher was most effective who came on later and because pierce johnson went two innings nobody else went more than one in relief i'm assuming that the official score to say well that made him the most effective so johnson gets the win and his record is now three and to the losing pitcher is zack godly godly is five and five the judge hit four home runs catching his fifth crawford number seven saadabad number three and as a pinch hitter nick hotly his sixth of the year three hours eleven minutes a time of the game thirty six thousand five hundred forty two the pay crowd here at at and t part so the giants have won off four of their games here at home and with the wind in the final game of the road trip in denver they've won five in a row overall and in the national league west now colorado one game of firstplace arizona and the giants now two games back and they remain the half game ahead of the dodgers who did not play now the rockies nor the dodgers played tonight now tomorrow we can look forward to came to the series and it will be madison bumgarner making his return bumgarner opening the year on the disabled list he's had a capital rehab starts one with sacramento and last thursday in san jose he threw seventy four pitches in the game at san jose muny and pitched very strongly and madison bumgarner will be back in at and t park for the first time in two thousand eighteen to make the start against a tough lefthander patrick corbin who is five and two of the two point nine nine earnedrun average and just had a very strong season his numbers are outstanding so the giants up against corbin at seven fifteen first pitch tomorrow from at and t park we'll see you then darren chan has been our remote engineer and producer brian smith and cody pass had have been.
"muny" Discussed on KBNP AM 1410
"Two two and march the ledra stinks thing about the muny market is that you hands on bonds maturing and calls refunding 's and this occurs constantly throughout the year and in 2018 we've estimated uh four britain fourteen billion we will be taken away and that money has to find a new home usually blokes than tactics up market she this sort of natural cushion for the municipal markets to the speed multicolored muchacho my second it's always a pleasure a great to learn the details from nujoma our editor for the bloomberg brief for the municipal market interest to tell you for example if you're looking for a 10year muny in that state of new york at two point one two percent california two point two eight percent a new jersey two point eight five percent thanks very much art now let's go to john tucker he is in our bloomberg newsroom at has a burke business flash chop as stocks continued lower haight extending their losses of this light trading day baby be a day before the weekend for christmas that dow jones industrial average forty six points lower twenty four thousand seven hundred thirty five the sp five hundred four points lower at twenty six eighty nasdaq composite index down get a lot of points right house sixty five a sixty nine fifty three worldbest consumer spending in november steady capital investments repelling the us economy a slew data today uh another solid quarter of growth likely keeping the federal reserve on track to raise interest rates gradually in 2018 purchases by consumers rising six tenths of eight percent among other things reported today 10year yield right now.
"muny" Discussed on TechStuff
"And on that day they were able to infect the ticketing and bus management system for muny with a ransomware attack uh they demanded one hundred bitcoin for the antidote for the the key to decode everything of and at that time a hundred bitcoin was worth about seventy three thousand dollars but instead of paying the ransom muny decided to offer free rides to passengers while they worked on a solution so for two days you could ride muny absolutely free you didn't have to have a ticket or anything you can just get on uh but then once they were able to reboot the system and restore from backup the it was back to normal operations so it was only a temporary downtime for munity was very now is still damaging because that's two days without any revenue but it showed that the city of san francisco and mutiny and diculeng was not willing to play ball by the hackers uh standards another dozens of other variations live appeared over the years but i think it's a good time to now look over at the wannacry virus because that is the most recent version of ransomware as the recording of this episode and i'm going to jump right into that topic ratra we take another break to thank our sponsors i you've reached the high fashion hotline i sweetie i told you not to call me at work but any style advice just got old navy ullevi gap all men science are on sale now up to fifty percent off with shorts from twelve dollars active from agencies from five bucks at old navy and oldnavycom five box less the whole stores have to fifty percent off so you can get amazing styles for everyone even me coned old navy now only make sure you get something for father's day my treat a thanks highfashion old navy balance aquatic twenty excludes clearance gift cards westerly items jewelry today entering only deals wannacry is an aggressive coordinated ransomware attack one of the biggest ransomware attacks in history.
"muny" Discussed on The Secret History of Hollywood
"It was held no end by the fact that the writer of the book mom was the film was based robert elliot burns was still a wanted fugitive his last escape from the brutal georgia authorities had been in 1930 and he'd since then assume the new identity was running a toy shop in new york news reached him through his brother that warner brothers not only wanted to make a movie of his book but wanted him to come to california or as a consultant and so began an elaborate series of plans between burns in the studio you'd agreed to a vast number of watertight conditions that ensure that he would not be given up to the police when he came to hollywood and that they would use their best fixes to get him in and out without being spotted he met with the director mervyn roy on four separate occasions as well as the movie star paul muny who spent almost three hours listening to the details of burns ordeal in the hands of mervyn the roy the film became the socially responsible entertainment they'd harry warner had always dreamed of making a movie that thrilled it's audience but also sent them home with a newfound desire to see society changed in some way it is an unrelentingly grim phil but handled with such skill that the i cannot be drawn away from the horrors it depicts it ended up a soaring success for warner brothers both financially and socially.