The Troubleshooter 11-26-24

Yeah, ripped up bad news.

You need advice so you don't have.

You come running just as fast as we can. Show Shooter's gonna help.

Come man, This is the Troubleshooter Show.

No Tom Martino, Hi, Tom Martino here, Welcome to the show. Three oh three seven one three Talk three oh three seven one three eight two five five House, everything going. We are here to help you solve your problems, answer your questions, take your complaints, and make life just a little easier.

Now I have a special, some special guest today.

We're gonna talk about some some stuff that's near and dear to my heart and pocketbook, and it has to do with keeping you on track if you're in business and business for yourself, and a giant business and a medium business, even a small business. There's all kinds of things to talk about. With retirement. We'll be getting to that in a minute. I'm going to go to your calls as usual, whenever you have a call gifts, call us.

Thirty one ninety five.

That's complete water softening around the house and reverse osmosis drinking water at the kitchen.

Sing also eight eight eight heating dot Com.

I have to mention them because they have the extreme clean for forty five bucks and they are doing it. So please remember that, and I'm going to have Garrett on to talk about that coming up. Also, whatever is on your mind, you talk to us. Like, for example, we have Heba who wants to talk about Firestone. Heba, what's going on with you?

Heba?

Yeah?

Hi, what's going on? Heba?

Yeah?

So I have, you know, been taking my car to Firestone because they're experts.

You know, how long have you been How long have you been going to Firestone?

Oh?

I mean like on and ofustin like ten plus years.

Okay, what happened? Here's with stuff?

Cars?

All right?

Well, with this particular vehicle I have. Now I know she's a little older, you know, but I took the car to them for a full diagnose fake so I can start like working on the things that needs to be fake.

But why he but were you having any symptoms or do you just took it there?

Yeah?

I was having a couple of different symptoms on the when it was really cold and snowy a couple of weeks ago, and like I have to use the heater. The car was tripping a little bit. It was like the ABS light came on and then the RPM would like go from zero to four thousand while I was stopped, and so I thought the car was going to die, which is okay.

So let's just say you took it there for some various problems. What is your car, by the way, Yeah?

What is it for?

Tours? Ninety seventh the show model?

My god, ninety seven Ford Taurus.

Yeah, unfortunately.

How many miles do you have on that world? How many miles?

One hundred, one hundred and like five thousand?

I think, man, that sounds like I would have more than that.

But anyway, so what's going on now, Let's let's get right to the problem.

What did Firestone do?

So they took my car, they told me what was wrong with it. I told them to fix it, and then I get the car from there on Sunday the seventeenth, or on the fourteenth. I'm sorry, I the next day to work, SA a whole bottle of anti seasons in my car, and I take a car back to them.

And they tell me I have a crossed radiator, And I just don't understand how all of a sudden, I have a crocked radiator.

Well, why do you think? Why do you think they did it? What? What did they hold on? Heba? What did they Hebra? What did they charge you? And what did they do?

They charged me.

Like six hundred and seventy two dollars?

What did they do for six hundred and seventy two dollars.

On my door because the pencer was bad? And then they did my washers the washer Seeing that washers window, I guess it wasn't weping properly.

What else to do with my cre so other than hold on? Other than the anti freeze?

Heba, Heba, you we got to talk back and forth here after they did, after they did the service, other than seeing that coolant?

Other than that? Was the car running better than when you took it in?

Not really, No, it was still running the.

Crap because what they did had nothing to do with the driving of the car. So I don't know why why you were charged six hundred and seventy two bucks.

I don't either. I don't either, and like, literally nine ninety miles later.

Well, do me a favor, do me a favor. You got to send me the work order.

Okay, yes, sir, I can do all that.

It's possible with one hundred and five thousand miles. You needed a few things. But the actual drive ability they didn't address right that.

That's odd to me.

They did a door sensor, yes, and what else did they do? I mean in general, I.

Mean, what the hell does that have to do with how your car is running right?

Right right? And then they said of something to do with fuel cleaning, and they die.

It that fuel cleaning.

Yeah, so I don't know.

They're experts, you know, like they're telling me what's wrong. I'm telling them like, what's.

The name that this?

No?

No, they this sound this sucks.

Man, hold on, do me a favor and send me your work kit, Jena, give her the email. We got a long show. She can send me that and I'll get to it and listen. But here's the bad You want to hear the bad news up front. Here's the bad news. Well, first, the good news. If they overcharge you we're gonna, we're gonna, we're gonna talk to them. Six seventy two. They didn't fix your problem. But here's the bad news. The bad news is they may not be responsible for that radiator. I mean, they didn't do

Ah, man, this thing. I don't know what the hell's going on, but it sounds to me like uh she You know there's an expression in the car business, you touch it, you own it. You know what that means, right, It means when somebody works on your car, you blame them for everything. Barbara, what's going on with All State? Barbara? What's happening? Hey, Barbara? What's going on?

I have a question about some insurance go ahead insurance companies sent out an inspector. We have nine acres, we have horses, we have trees, this and that in Castle.

Rock and is this all State?

Yes?

We said, they sent out an inspector and then they flagged us. Our agents said they flagged.

Was this coming up on renewal? Is that why they did that?

It's coming up in February, and.

That's why they did it. Okay.

They're trying to do away with any problem properties. They're also trying to make people replace their roofs if they're old, because they don't want to replace them under a lot of people wait when they have a bad roof for a storm so they can get it free.

But anyway, keep going. All State Insurance sent out, sent out an inspector. Okay, go ahead.

We had one claim in twenty years and that was a hailstorm here in twenty twelve.

Well okay, well according to insurance, that's not good. They don't want any claims. They want to make money out the nose.

Go ahead, go ahead, I understand.

Oh they sent So they came out and they said, we have been flagged for trees touching or overhanging the roof. So I asked her to send me the pictures so we would know. I figured I knew what they were talking about, but so we did it. We pruned them. I sent her back pictures. She said, looks good, So I thought all was good. We have four cars with them, a horse trailer, a boat.

And then I'll bet you, Barbara, I'm going to make you a bet right now, if you've only had one claim in all those years, I will guarantee you right now, and we're going to do an experiment. I will guarantee you you're over paying for insurance.

Good by imagine we are, and I've bet.

And hold on round.

I'm also gonna wait. I'll also guarantee you that with one phone call, we can get you an insurance check up, no obligation whatsoever, and not only will you save money. Listen to what I'm saying now, this is pretty bold, not even knowing what's going on with you, just knowing that you have All State, I'm going to tell you right now you can get better insurance for lower money and.

Better deductibles, better all the way around.

And now I've said this to people in the past, and the smart people say, well, sure, I want that insurance check up. And the other people who aren't so smart say, oh, I like All State, They've been a good company, or I've liked so and so, And I ask them what defines a good company? They have no idea, because a good company is to find on someone who gives you.

The best coverage at the lowest price.

And what's really funny is people who evaluate insurance, they don't even evaluate them.

They just say, oh, yeah, it's a pretty good company.

But then the first sign of trouble, then they find out they're not such a good company.

Barbara Listen, I know you want to talk about this.

This has nothing to do with what my question is, because what's your question. You're a referral age and I've called three of the agencies and we have gotten quotes. Our quote is very low in this house. It's like four thousand. I think it's the five thousand for the year, and it will probably go well. They say they're not going to probably renew us. And here's my question to you is all your companies were eight thousand to ten thousand.

But my question to you is did you call Compass Insurance Group.

I'm just curious.

Yes, yes, I did.

They and they went through their twenty five companies and could not And then that tells me something that keep going and then I'll tell you what I think go ahead.

Okay, okay, So we did what they said in September, had it all pruned, the gal said, the agent said, looks good. Now, yesterday I get another email saying if you and they were saying it was due to the roof hanging over the roof. So we cleared chop trees down, totally annihilated some beautiful trees. We have scrub woke around us. We have an in ground pool. So now they say, now I don't understand why this was Barbara Barbarick.

Can I just I know you want to tell me everything and you don't think I'm listening.

But let me explain something to you.

All State doesn't want to renew you, and they're looking for an excuse. Okay, they don't want to renew you.

To you can I sue them for no?

No, no, you can't. No, you can't upon renewal. They can decide not to renew you. You can't sue them. There's nothing to sue for. You'll spend more money suing them than it's worth. An insurance company. They can tell you they don't want to renew you. They can make you jump through hoops. I'm telling you they're looking for

It would have been called.

I don't want to get into the technicalities because I know in your heart you think you're being screwed.

But it's possible that you.

Were underpaying for insurance and that your did not have adequate insurance, and you would have been in big trouble had you had a loss, because there's no.

Way it worth one point eight We had it insured for two point two millions, so we're not under insured. I'll tell you what I think it is, and then I will let you go because I know you're busy.

No, no, no, no, go ahead, Barbara.

What do you we have there? Our policy now has one hundred percent roof replacement with a five thousand dollars deductible, and I believe because they're not doing that anymore, and we all know why. But in twenty twelve the house, the roof was replaced for twenty seven thousand. I can't even imagine what it would cost to day. So this is what I believe that they want to drop us because of that policy, because they don't want to have Barbara.

When I when you got your insurance check up, here's what I need to know. Did you have them quote one roof coverage replacement with a five thousand dollars deductible.

They will no longer do that.

I'm asking you though, when they When they That's why that's why the prices were so high, because here's why I know you can get good coverage. You can't get what you had because it doesn't exist anymore.

So what you're.

Comparing is you're saying I compared them and they couldn't do as well. Well, what you're saying is they couldn't do as well as what as something that doesn't exist.

So what I'm saying is.

You're trying to compare old coverage you had with all State, which no longer exists, to something that good, honest people are trying to give you a quote on. What I'm telling you is this, you will never find a quote that has one hundred percent roost coverage for well, you might, but here's what I want to know. I want Barbara, if you really care, and I have a feeling that you think you know and you don't even want to explore.

Get the best coverage.

But I want to leave it so I don't feel guilty about it. Okay, even people that know everything, I want to offer to them the service so they can take advantage of it if they want so. Barbara, if you want there's something we're missing. When you told me you called three agencies on our referral list and all three of them were twice or three times as high, there is something fundamentally wrong with that premise, absolutely wrong, and we'll find out because if you did call Compass.

Me Tom Martino here three.

All three seven one three talks seven H three eight R five to five. Marcie has a question on side. Meanwhile, if you're in business, please stay tuned. I Am going to work in some really important stuff that you need to know about your retirement plans. If you offer retirement plans of any kind of your employees, please hang on for that.

Marcy. What's happening, Marcy?

Hi, Tom, I'm looking to do sighting on my mom's home in North Glin. It's a ranch home, so it's just the sighting on the top. We've had a few of the guys out from your referral list, but I'm just looking to see if you have opinion on the LP versus Hardy. I'm getting kind of confused, like I read.

Okay, my personal I'm just going to tell you something I personally do not like Hardy.

I don't personally, okay, I don't.

James Hardy has taken over the world with their marketing, and I believe it's not as great as they say. It's not terrible siding okay, and LP siding I wouldn't do. Okay, So I don't want either of them.

On my house.

Okay, what's the alternative to those?

I would go with a line siding?

I'm sorry, what sighting?

A line?

A L I g n Okay?

A line Okay?

Now, fine, we have great people that do siding. We have K and H Home Solutions. Have you had them out?

No?

We had Paramount in Genesis out Genesis does a line siding? Did did he talk about it?

I think Genesis was hearty.

So I'll have to find well they okay, that's one of their sidings. But for God's sakes, one of the big deals I do, one of the real big things I do with them is I let me make sure I advertise ALIGNE sighting for them. I think, hold on, let me let me make sure I have the I have it right here.

I just want to make the.

Right Yeah, A line siding, plastic polymer, no chipping, cracking, peeling, fading. Come on, Mark, you know the sales guy just recommended Hardy.

I'm pretty sure he was the one that recommended herd.

I want you to remember a line A LGN. You won't do better than a line siding.

Okay, okay, I'll call them back.

Thank you.

A line a l I GN. I think it's only one.

Okay, Marcy, let me know if there's a problem, because that's a great siding.

Ursula. What's going on with moving companies? Hello? Ursula?

Yes, good morning? Uh hey you you used to have moving companies on your referral list?

Yeah?

And can I say something frankly, they all suck in fact, no, no, no, no, no, I really want to tell you that they all suck. Now they were on until they weren't. Let's just put it that way. But there there was there. Some of the better companies don't have to be on the referral list. They're too damn busy. So oh okay, so if you isn't that a dichotomy?

So they're so good.

They don't need us, and and the other ones were so bad they can't join us, so we don't have But I can give you great What where do.

You want to move?

We would move from from Boulder to Littleton.

Okay, that's a local that's considered local. Yeah, and.

Who do you I can tell you someone who's a great company. Yes, well, let me just are you sure we don't have anyone?

Let me shoot? I thought we still had some.

So we went on your fur list. Yes, look, and we couldn't find it.

No, I can't either. You know we got a Yeah, it's too bad.

Hold on one second, I thought we had a small anyway, here, here's who I would recommend.

Okay, I would recommend. Let me let me find him. I want to make sure hold on before I do it.

Uh, and then I will come right back to you.

Okay.

I want to make sure. I want to make sure that they're going to do a local move for you.

Okay, okay, thank you? Okay, yeah they do Johnson Moving in Storage absolutely, yeah.

Oh Johnson.

Okay, they've been They've been here one hundred and twenty five years. I think they're pretty dependable.

And also have you heard from Legacy Moving?

No? Where did you find Legacy?

Well, my son you said, for when his house burned.

Down, did he like him?

He had to move from one to one another? And he said when they moved him from one place whatever was left.

They were great.

But then when they moved back when the house was done and finished, they were not so great.

Well, okay, they have really good listen, they have really good ratings all over, just so you know.

I'm just looking at him.

And they have too many to be fake. Okay, too many good ones to be fake. Now now I like, I don't know them. I know Johnson. Now there's another company that used to be really good and I don't know what they're Doinglines, well, that's United Band.

Lines is a national.

Is a national company, and what you have to look for are local agents. So don't god by the national name. Although you want a local agent to be affiliated with the national name.

So I'll tell you so.

Johnson is local, but they are affiliated, I believe, with national. Grabel is another good company. Amazing Moves we used to have on the referral list. We never got really major complaints about them. So when I said they all suck, Amazing Moves does a pretty good job.

Okay, okay, now.

You have the phone number off Johnson Moving.

Well, it can't be that hard for me to do for you. Hold on. They're really good people, man. I've known Mark for so many years.

And I just wanted to let you know my husband.

Oh they're united. I thought they were national. I'm sorry, what did you say?

I said, My husband is an avid listener, listening to you at least for twenty five years.

Well he's three day.

He's the smart.

Always says he learned so much from you, and you saved him so much money by him listening, and whatever comes up, it's awesome. That's why the first thing we went is to you referral list, and we couldn't find any movers.

Okay.

Now, Deputy Doc who's one of our deputies here, he used, he used move Masters and he absolutely loves him. Let me give you the number four. It's an eight hundred number, but it's okay. They're local Johnson.

Eight six six eight six six four four to two yeah, zero four.

Eight one zero four eight one okay.

And then move Masters is who one of our people used, and he raves about him. And I don't like I said, I didn't know about him before him, but he them and I can give you their number move Masters.

They really are good people. They're three oh three, three oh three eight nine three eight nine three eighty two.

Hundred eighty two hundred wonderful. I'm gonna move I'm going to call them because we have to. We're kind of in between. We bought a house in Littleton to move closer to our daughter, but our old house in Boulder here is not for sale, so we have to move part now because so we.

Know, you know what do have to Are you going to sell your house in but are you going to sell your house in Boulder?

Yes?

We are.

Yeah, I meane elderly, but our daughter wanted us closer. They always say, well, mom, you're getting older.

We're in our late erson so you're in your late seventies.

Yeah, okay, Well.

My goodness, I'm in my early seventies, so congratulations. Listen, Ursula, listen. I want you to do me a favor though, when you go to sell your house. Contact again. Let's find somebody good for that. And it's good. You're getting out of Boulder right now. It's I'm just right okay. Anyway, Ursula, take it easy. I have to take a break. I'm Tom Martino. We have more coming up on the Troubleshooter Show. I want to tell you it's a very busy show. We got a lot to talk about.

And fix it.

Twenty four to seven is one of the companies I love talking about because they spend about two hours on your furnace thirty nine bucks, and they go through it completely thirty nine dollars. Now, come on, you spend more than that on a couple of coffees. Right, fix it twenty four to seven. You can book it right now, Fix Myhome dot Com and then book now, Fix my Home dot Com book now.

I push them because they're good people.

I know the owner, I know everybody there, and they promise to do a great job for you and give you a no breakdown guarantee. Now it's for people who haven't had it done, the extreme clean thirty nine bucks, Fix my Home dot Com book now, Hey, Tom Martino here, listen, Nah, I gotta tell you this.

Fix it twenty four to seven. I forgot to mention.

They also do these diagnostic calls for thirty nine bucks for anything. No matter how long it takes to diagnose a problem, they come out and look at it.

Thirty nine bucks.

Give you a complete estimate if no matter what it takes to find the problem. Now, once they find it, if you decide to have the work done, you don't pay the thirty nine bucks, but the thirty nine is what.

They call their they're low cost diagnostic fee. It's a one price to get them there and get a diagnosis fixmihome dot com seven two zero five two six thirty nine thirty nine. Let's go back to the phones.

Kevin Colkin is with us and the reason I had Kevin on, I wanted to read this invoice, but this invoice is way easier than I thought. Heiba, you complained that they didn't help your car run better. I just want to say something. Okay, I'm looking at the invoice. There's not one complaint on here about the car not running right. All you complained about was the lights are on abs traction. The interior lights stay on after you turn the car off and you have to jump it

They did.

They fixed the lights the dore center.

Yeah good, and then they did cleaning the fuel system PFI three step.

What's that? Kevin Caulkin our car expert, Kevin, what's.

That It sounds like it's an injector cleaner, induction cleaner.

Service, kind of like BG, right but different. Yep, Yeah, Okay, it's one hundred and thirty three bucks. Is that ore one hundred and thirty four or is that a lot of money?

That's not bad?

No, it's not bad for you.

And for the door switch and the other stuff. They it's one hundred and sixty not bad. But then they did some other stuff. They said, diagnose the washer that was inoperative, and that was eighty one dollars, and a windshield hosed sixty dollars, and replace hose assembly seventy dollars. But to diagnose it was sixty. To replace it it was seventy. I mean, I think these charges suck. By

Well, and she has a cracked radiator.

I don't hear anything here they did. They didn't do anything that would have time.

I don't think they were anywhere close to the radiator.

Ye okay, Now here's what I want to ask you. She has on this particular car. Could it be just old enough? Would it's a nice seven four tourists with one hundred and five thousand miles?

Now I doubt you know, the miles might be.

Correct, but it sounds a little low ninety seven mm, so that's over twenty what twenty five years?

The radiators are plastic, you know, they have so they don't last forever.

No, okay, so he but I'm gonna I'm gonna be straight with you here.

You might think they screwed you. I don't think they did. I just I can't. There's nothing we can sink our teeth into here.

And if she wants to swing by time, I'd be happy to take a peek and see if there's any way we can look you know, you know, yeah, anything else, I don't keep it.

Where are you located?

Mom?

In Denver? Onlike Yale and I twenty five?

That's not bad.

But he's at uh he's on Colfax west of Wadsworth Sheridan Auto tech dot com. Just if you want to swing by there, he'll do a courtesy check. Okay, I just as I said, I just don't think in this particular case that that they screwed you.

I don't think so.

Three three yeah, three seven one three talks seven one three eight two five five. Now coming up, we have a discussion on retirement and more on the Troubleshooter Show. And it's here's what's really important, Okay, when it comes to a diagnosis, put the problems down on the dam invoice and make sure if you have a driveability problem and they and they agreed to fix something, they say, put down on there, like let's say this, you need

Alvarez is with us.

I'm going to bring them up in a second here and Pat Jolliffe, who is one of my colleagues over at Wave eight Wealth Management, and we're talking what we're going.

To talk about. I guess Pat's not there either, so let me just bring up. Let me just bring up John right now with IMA.

John you're on, let me unmute you, sir, and then we're gonna be fine to go. I just wanted to talk about I think it's important that we talk about what you do. Oh Pat's on there now, let me just activate him and unmute him, and then we have everybody up. And that's for those streaming. Sorry for if you're listening, you'll hear him on radio. But what's really

Thanks, Tom So, I'm a retirement is resident investment advisory firm.

His sound went to hell, didn't it? Guys? Can you hear him?

Shannon on strictly on retirement plans for all?

Right, hold on a second, John, hold on one sec. Please hold on.

I'm just gonna I'm just gonna regroup because his sound his sound was great, but it uh, it just did not it's not coming. Pat sounded really good. His the other guy's sound is off. Okay, I'm going to connect by phone with John because I can't. It's much too important to worry about the video at this point. Pat, you can stay where you are, but I'm gonna we're going to have to reconnect with John on that. As far as I'm going to have the I'll have him

Is that right correct? Okay, Now if they review, if they don't.

Review, what are some of the consequences if they do not review.

Well, it's incumbent upon a plan. Answer in this case, the employer to be attentive to what the plan is doing and all of its costs and the services provided, understanding whether the investments are competitive and so on, because they're serving as a trustee for the benefit of their employees.

Okay, this is something. This is something we're going to keinue right after the break. So here's the bottom line. If you run a business, if you offer a retirement plan and you don't review them, you can be severely fine. Now a lot of people don't even know that. We'll talk about what it means and how to get it done.

Coming up.

Ripped, you need advice so you don't have the.

Will come running just as.

Fast as we can.

Shooter's gonna help.

Come Dix is the Troubleshooter Show. No Tom Martinez.

Hey, welcome to the show. I'm Tom.

We are here to help you solve problems, answer questions taking place, make your life a little easier.

If you have a question, problem or complain, get it in before the holidays.

A lot of people lay back this week. We can still solve your problems. We can still help you. Three all three seven one three Talk is our number three all three seven one three eight.

Two five five.

This hour brought to you by Genesis Tootalexteriors dot Com. Genesis is the place to go if you're looking for that align siding. I did verify they do have aligned siding and that is a lifetime siding and that is Genesis Tootalexteriors dot Com. I want to bring up a guest, John Alvarez. John is with IM a retirement and uh, by the way, just so you know, I am a retirement works with companies of all sizes. And why did I talk about this because Pat and I were talking.

But by the way, the reason we're.

Talking about this has nothing to do with your individual investments right now, as people, we're talking to companies now that are the plan sponsors.

I guess you call them.

Let me bring up Pat, so John, you're on the phone, John, Employers have a fiduciary responsibility once they establish a retirement plan, don't they do? They have a responsibility to their employ ease.

Is that correct?

That is absolutely correct. There is a lot of regulatory steps they need to ensure are being taken care of in order to make sure the plan is meeting the needs of their participants.

That is correct.

Okay, Now what I need to know is this when this happens and they start a plan, many companies just start a plan and then forget about it. I mean, they have a four oh one K plan. In fact, they're they're happy they have it, and then they forget about it. But the law actually has been auditing people saying you're not allowed to just have a plan and forget about it. And explain that to me.

Yeah.

So part of being a plan sponsor is that fiduciary responsibility of monitoring the plan, which is a really critical step. The employer needs to monitor the plan providers, whether it's the record keeper, the third party administrator, the financial advisor, anybody who is providing service to the plan. The employer has that ultimate responsibility of monitoring them to make sure that AA their fees are reasonable, that b they're providing

Now, if you're if you're we're speaking you know, we may not be speaking now to just everyone, but we are speaking to people who either work for a company a lot of people, but mainly to the people who own companies and offer retirement And in fact, in Colorado, it's going beyond a four to one K. Colorado just passed a law that they have to what size company has to offer some kind of retirement plan.

Yeah, if any company that has over five employees and has been in business for two years is required to offer either a retirement plan like a four to one K, or they'll need to sign up for the Colorado Secure Savings Plan, which is an IRA uh you know, payroll deduction set up plan.

So so this is really important.

Actually if they don't do it, what does a company risk if they set up a plan, whether it be any kind of an ARISA plan, and they do not review it on a yearly basis? What are some of the I don't think a lot of companies know about this, just like a lot of companies didn't know about the new bo I requirement, the beneficial owner interest. You have to you literally have to show everyone who benefits from a company now on a yearly basis, and the fines

It correctly, but the fees have creeped.

Up and it's not totally efficient and you have done nothing about it. As an employer, what can happen? What can can people be fined?

Yeah, so that that puts the employer in a bit of jeopardy. That if they have a plan that has been growing. These are not really reviewed from the investments or the the providers like the record keeper. If that is not regularly reviewed, that can be a compliance issue. And if the Departner of labor comes in and does an audit, there can be some serious consequences, like you said, whether it's fines or you know, actual you know, trouble

Hey, Pat, can't can an employer say, listen, we have a four oh one K. We set it up, We left it up to these professionals to do it.

Why do we get in trouble? What can it? Can a boss say that?

Well? Not really.

I mean it's it's ultimately the employer that's on the hook for the producierary liability at the Department of Labor, and that's where they're going to look the only time.

And John cant you know, correctly or wrong. But if you're a.

Full blown what is it three eighteen or three eighteen advisory where they actually there's a way that not all companies will do this, where a provider will take over take that fiduciary responsibility. But I think, you know, it's very limited, and in those cases, I'm not sure that it even still leaves the employer to clear off the hook.

So it's a very serious thing. I mean, you got to be attendant in this thing.

Okay.

So it's kind of like taxes, it's kind of like BOI, it's kind of like any requirement put on employers.

I mean, it really is a lot.

Now, can't an employer simply say this is too much trouble and just scrap their plan?

But they don't do that because right now, four.

Oh one k's are a way that employers use to attract people, right workers. I mean, I think workers care about it. Don't they about retirement plans?

Oh?

I think so? And I think it's a pretention thing as well.

You know, if you're going to if you're in competition for the labor force, which a lot of companies are, and you're not providing a retirement plan, even if it's a defined contribution plan like a four oh one K, then then you're not going to compete as well, and you're not going to get the best people. And I see that more in the rural areas where we serve then you know, certainly in the cities.

But it's it's a it's a big issue for.

People where they don't have a vehicle like that to which they can contribute for retirement.

Okay, so once you then so. But the word is this, once you have a plan, that's only part of it. The big deal is not just having a plan, but but making sure that But but here's what I want to know, if if somebody is has a four oh one K and they're contributing their money and the employer's matching it and it's invested, why does a government care or why does anyone care what fees they're paying? What I mean that doesn't come out of the employees pocket, does it?

I mean, sure does, Yeah, the majority of them do.

Actually, when you look at the investment expenses, a lot of times you have mutual funds or target date funds that may be managed or at least have a feed to them, and so you have to compare the like kind funds that are out there. As a fiducialar its requirement to see if you're getting your employees the most competitive fees for the type of funds that you're offering.

And that's number one.

Now, sometimes the employer will bear some of the registration for your annual host fee, administration fee for the plan, but a lot of times it's you know, it's about seventy percent is born by the participant and it's incumbent upon the plan sponsor the employer to make sure that that's those fees are competitive.

Now, John with Ima, by the way, and.

The reason I'm interviewing you is because you do reviews and you do plans, and you do all that, and obviously people saying, well, sure you want to do a review so you can pick up the businessiness. But really it's not that easy because if it's a good plan, you're obligated to tell them it's a good plan. I mean, in other words, it's like our insurance check up with Compass insurance group. Compass goes and looks at you might

That's what I think, John, Yeah.

You're absolutely right. And what we do is we want to take a very objective look at it so that there is no misinformation. We will benchmark a plan against other plans of similar size, whether it's the asset size or participant size, and then we'll benchmark every single provider from the record keeper, third party, administrator, advisor, and investment expensive. So if I look at how the cost structure.

If a company has a good plan and it's efficient and the fees are in line, and you say to them, hey, this is a great plan.

Cool they have they have fulfill.

Their obligations as a plan sponsor, right.

Well, we like to go a little bit deeper because just because the plan is inexpensive or in the line of the benchmark doesn't necessarily mean that all of the services and support that is required from a fiduciary standpoint is being provided. Is their employee outreach and educations, is their ongoing reviews with the for one key committee, about the investments to monitor these things? There are planning steps that go beyond just the cost.

Okay, But what I'm saying is, if you find a healthy plan that doesn't need anyjusting, this employer has fulfilled their obligation to get reviewed.

Correct? Correct?

Does that?

Does the law actually say or do requirements from ARISA actually say it has to be an annual review or a periodic review? What what do employers listening need to know.

Yeah, it's you know, there's not a prescribed cadence for the meetings, but it is you know, a requirement that there is a periodic review.

Honesty and really and truly, if you have the plan, the one who's doing it now, the administrator review it. What's to prevent an administrator to say, don't worry about it, we reviewed it.

You're fine, and they're not fine.

In other words, does it have to be an independent review?

Well, it really needs to be the plan sponsor that is taking the time and initiative to verify that the information being presented is correct correct.

The employer has to do it.

Correct it ultimately follow upon the employer.

They have the ultimate sitsure and.

The employer can't can't just say, well, the administrator told me it's a great plan, and then Arisa or a government could say, well, how do you know that? Did you have it reviewed? Jason? What before I take a break, Jason, what's your question? And we'll we'll think about it during the break. What is your question?

Jason?

Hey, Tom, I just wanted to see if you could clarify when you said that the employer with five or more employees. Is that full time employees or part time employees or doesn't matter?

For the four oh one K, it's not a four oh one K. I don't think it's just it's just a certain plan. You're talking about the Mandatory Colorado Plan?

Correct?

Correct?

John?

Do you know the details of the Mandatory Colorado Plan?

Sure, it's for any employer with five or more employees that are full time employees. Okay, basically it says some up and roth Irie account accounts.

Yeah, it can be as simple as a roth right, it doesn't have to be a four oh one K.

That's correct. That's correct.

Okay, does that answer your question? Jason? Yeah? Okay, all right.

We got more coming up on the Troubleshooter Show three all three seven one three talks seven to one three eight, two five five Frank drand the real Estate Man don't forget free market evaluations. If your home for the asking, he'll tell you what it will sell for based on his thirty years of experience with no obligation. So if you're curious before you list. Frank durand the real Estate

Welcome to the show.

We are here to discuss your problems, questions and complaints. And one of the things we were talking about is if you run a company and you offer a retirement plan, you're actually under an obligation to review that plan, to literally review it as a plan sponsor the employer. You

If you don't.

Again, there are a lot of a lot of things that businesses do, a lot of things they just would rather not do. It's complicated and it's a pain in the ass. So I'm talking to experts who do reviews and the main reason is to keep companies from getting in trouble. But the other one is this retirement plans, like any plan, like insurance policies for your home, for your business, liability, business insurance, anything, nothing should ever be

Integer.

By the way, that's why when I talk to Integrat they do that all the time. They do health insurance reviews. We've talked about it a million times. Compass Insurance Group, they do insurance reviews of not just businesses, but of individuals. Everyone should review what they have, no matter what it is. Now, as I said, if you work for a company, I mean you don't. You don't review your four one K because it's provided by the company. That's where the employer

Don't even know that they need to review their plans? Seriously?

I mean do HR people keep up on that? I mean who would keep up on that? A lot of companies aren't big enough to have an HR department, So who tells them they need reviews?

Well, what you said right there is the exact problem. A lot of the companies are just a little too small to have somebody dedicated to the HR side that expertise in for one key. So a lot of times it just goes kind of on the set it and forget it. It really is in coming upon the plan advisor to kind of help guide that employer on monitoring and reviewing the plan plan.

And okay, so there they they does.

An administrator when they set up a new plan for a company, do they could? There'll be a lot of new plans being set up in Colorado.

When does that take effect on the first of the year.

No, this has actually been going on for a bit now. They've kind of phased it in based on employer size, and the most recent was, you know, dropping it down to the requirement for anybody with five or more employees. Okay, that's actually in place now.

So so do you guys do small plans like that too, or just big ones?

No, we absolutely do. We feel it's really important that small plans actually have the same oversight and help that larger plans do because they just don't have that technical expertise to do on their own own.

Okay, So in order to establish a plan, whether it's a four to one K or whether it's the mandatory Colorado plan or whatever, what does a company need to spend? In other words, do they have to have a company match? Do they have to do all that? I mean, there are there are employers listening right now that just want to do the bare minimum. And I hate to put it that way, but what would be like, let's say in a four to one K they wanted a four to one K, do they have to have a company match? No?

The company match is absolutely discretionary. It can strictly be for salary deferrals from the employees. That's not very common, but that is absolutely available.

Okay, Now Mark has a question, Go ahead, Mark, what is your question?

Hey Tom, how are you doing it good? I got a question like, Okay, so I want to open a small business and the question comes up back to the employees want to borrow what one K? What benefit is that for me to even open up a company?

You know what, Mark, A lot of people, as you know what a lot of people ask that, and that's what I asked him before. Now, now, Mark, I want to say one thing. The benefit of a four oh one K is to attract employees, right that obviously, But if you don't care that much, if you think you can find employees without that, then I'm going to ask John what other reasons, John, would there be to have.

A four oh one K? Is there any benefit to the owner?

One other quick question, Mark, before you ask that question, or Tom, before you ask that question, how much percentage of the their income, like they're at one hundred percent, we pay them one hundred percent. How much on top of one hundred percent that they're paid do we have to pay towards their one to their one Ksey, we're a small business, you know, look a small business.

Okay, okay, let me answer that, Mark, let me answer.

That on a four you don't as a small business, you don't necessarily need a four oh one K. Colorado has another simplified plan you can do.

But let's talk about a four oh one K. Let's talk about that.

Like like I thought, John, a four to one K is where you establish a plan. You get up, you're the plan sponsor, you find an administrator and then they have investment advisors. But I thought it could be one hundred percent funded by the employees themselves, by what they want to put away. Right, it doesn't have to come out of the employer's money.

Is that correct?

That's correct. So basically it is set up as a salary reduction plan where they're able to contribute on a pretax basis from their earnings.

So Mark, you're not paying, You're not paying into it unless you want to, unless you want to match.

I see it.

Thank you, thank you, okay, thank you?

Sure sure we have more coming right up?

Hi Tom Artino here three all three seven one three talk seven one three eight two five five.

Deputy, d are you working on anything?

Sir?

Hold on, let me get your mic on. There you go, sir.

All right, just that issue of Becky who called us yesterday about trying to get a refunt for some late fees from century Link, and uh, Sue's had a great insider contact at century Link, and that person is currently researching this request and I'm waiting to.

Hear back what was her issue basically, so you.

May recall that she didn't pay a late fee on a phone bill.

Oh that's right. And then she thought, hey, I should get some I should get a break here.

Yeah, because she's been their customer for thirty some years, and then for each of the subsequent months she would pay the actual phone bill, but not these accumulating late fees. And now they're if I remember right there, either one hundred thirty or one hundred and sixty bucks now, so and to her that's real money. So hopefully our contact at Century Link will be able to help out with that.

Right right, And what we said, and this is really important to know. When you have a late charge or.

Change in your s grow for your mortgage company or anything like that where it disrupts the amount of money on your monthly payment, do not just pay that and get it over with and then move on with your subsequent payments, because if you let it accumulate.

They will.

It accumulates so quickly you would not believe it. That goes by the way for HOA fees. Now, I'm not saying that hoa's should be immune from any kind of problems, but too many times people disagree with it. HOA like an assessment, yeah, either an assessment or a penalty. Or we had a woman one time that had something stupid. She had white she had she had drapes in her place, right,

And it was not allowed. The drape linings, you weren't supposed to. I don't know what it was.

It was some kind of stupid thing they sent her saying, you know, we see white lining of your drapes or something.

I believe me.

It was a while ago, but I know that I know it's at There was something about her drapes. So they find her like a couple hundred bucks or something because she didn't correct it at first, and then she ignored that. And this was maybe more than twenty years ago. She actually went into foreclosure because with attorney's fees and letters, hoas used to be way more abusive.

Now the laws have changed a little, but they're still pretty abusive.

But she was up to forty five hundred dollars from that, and she was so upset, but she went into foreclosure.

Because of it.

That's how crazy it can get when you're fighting an uphill battle. Now, like I said, I don't think you should just take it, but you have to put it to rest first and then go back and fight it when it especially with an HOA, you can't suspend it. It's it's only going to get worse and worse and worse, and you will spend a crap.

Load of money.

Three zero three seven one three talks seven one three eight two five five. I have a text from a small business again and I want to bring up John Alvarez with I am a retirement John this question.

Are you there, John? I know you stepped away. Are you there?

Yep?

I'm here?

All right?

Okay? John?

You mentioned when we mentioned that employers of five full time employees or more must do a plan in Colorado for their employees. But it doesn't have to be a four to one k and you said something about a roth or something.

They want to know what's the minimum that is.

And I hate to be laboring about the minimum, but a lot of employers, frankly, they're being you know, they have just a few employees and they want to know what's the minimum they can do. So let's answer them. I mean, what is.

Required to fulfill that Colorado law?

Sure?

So the way it's set up is that the employer will contribute to rough iry accounts for each employee. It starts out at five percent of salary and so it's coming from the employee salary and it increases one percent a year until it gets to eight percent. And that is the kind of the minimum requirement requirement.

Okay, so all you. But but then what I don't understand is why does an.

Employer have to do that?

What if what if the employee doesn't want to do it? Well, they can they wave out of it? Oh they can, it.

Can actually they can?

Yes, Well I can see all kinds of abuse coming there.

Yeah. It's really designed to get people saving for retirement, whether they like it or not. And for the most part, people stay in it once they have. You seen that money come out of their big sector.

Okay, now the thing is with a wrath, I mean, that's an easy thing to do.

So they they would would.

The employer establish that or just tell the employee that they can do it, because to me, that doesn't sound like a burden at all.

I mean they don't have to go ahead, right.

The call out of secure SABER program is set up or kind of through one account, so it's not something that the employee would set up. It's you know, kind of administle by.

The state, but it's segregated. It's segregated per employee, correct, and the money.

Goes into like a state fund or does the employer keep it.

Now, it goes into that individual uh, you know, participant's account. And the way it is set up, it has very limited investment options. So initially it'll go into a money market account, and then after thirty days, if the employee has not decided to invest it anywhere else, it will be put into a target date fund. But really there's only two other funds. You have a money market, a target date international equity fund, and a bond fund. So it's very limited in the investment options.

Okay, but let's say an employee says, wait a minute, wait a minute, if I have to do it anyway, or if you have to do it for me and I'm not going to opt out. If an employee does their own, does that get the employer out of doing one?

It does not.

This has to be handled at the employer.

Level really, so even if an employee has his own, it has to be established.

There has to be another one established.

Right because the money it has to be shown as a payroll deduction going into that into.

That I rate ahly.

Okay, So if an employer want, I can see this happening, and maybe it won't. But can employer say, wink wink, you better opt out of this if you want to work for me.

I don't think that they would. I mean, it's it's not really a you know, it doesn't make any difference because they're still getting paid the same amount. So it's really just taking it as a top line deduction from that employee paycheck since it's a rock after you know.

So what you're saying is there's not a burden on the employer other than paperwork.

Yeah, other than paperwork and submitting that payroll contribution to those accounts.

All Right, we got more coming up on the Troubleshooter Show. Hi, Tom Martino, you're a troubleshooter. Three oh three seven one three talk seven one three eight two five five. Felina, let's talk about your two thy nineteen Chrysler PACIFICA.

What's going on, Fellina?

Well, I took my van in to Thompson Otto and back in April and they told me that it was was the head gasket.

So they fixed the head gaskets.

And that was over five thousand dollars. Oh man, yeah, So then we had the same problem happen in August. So I took it back to them because they told us that we had a two year warranty with them for it.

So how long had it How long had it been? I'm sorry I lost track there.

So we took it in April, they fixed it. We got it back in about May. So May to August, right, okay, and what happened?

And so I was.

Having the same problem. So I took it back into them and they told me that it was the head gaskets.

Again, well, did they warrant it?

Yes, okay, this was they were supposed to do the warranty work. But then they told me, well, your pistons and catalatic converter are bad as well, and they.

Well, hold on your pistons. That's a whole engine, right right.

Well, so then they were like, that's about six thousand dollars, and I said, well, we can't afford that.

Oh.

So they Here's what it sounds like to me.

It sounds like they didn't want to do the warranty work and they're looking for an excuse to get money. Hold on a second, we'll come right back to and investigate this. Three oh three seven one three talks seven one three eight two five five. We have more coming up on the Troubleshooter Show.

Yeah, ripped off bad news.

You need advice, so you don't have.

You come running just as fast as we can show. Shooter's gonna help.

Come man, This is.

The Troubleshooter Show.

No Tom Martino, Hi, Tom Martino here?

Three oh three seven one three talks seven one three eight two five five.

What's going on in your life? How can I help you? Now? This one I don't like.

Felina went to Thompson Auto with a two thousand nineteen Chrysler PACIFICA and here she said that they she needed a head gasket. Now, why did you take it in? To begin with, Felina, why did you take it in?

To begin with?

I took it in because I was having problems with the head gasket.

Again.

Well, no, no, no, no, the very first time, how did you know you needed a head gasket or was there something else?

What was going on the very first time you took it there?

I took it in because I had took it to Urban Auto and I was just trying to get a second opinion to see if it was that the pricing was correct. So I took it into Thompson Auto.

And so what but well, okay, then why did you take it to the first place, Urban Auto?

Why did you take it there?

Because I was having like problems getting my card to start at first?

And why did they say you needed Okay, a head gasket doesn't make it difficult though for your car to start.

I don't think.

I mean, it is so startingly vehicle.

And then there was like smoke coming out of it.

And then they told me.

That it was there white smoke coming out of it. Yes, yes, okay, I got it.

Okay.

So so anyway, you went to Thompson and they they verified you needed a head gasket, and they charged you five grand, and a few months later you were having the same white smoke. Yeah okay, So then they said we would fix it under warranty, but you still have some other stuff wrong. You need this and this and this. So basically they were telling you the engine.

Was blown pretty much.

Yeah, well why didn't they know that when they before you spent five grand?

I have no idea they didn't dig that deep the first time.

Well that's see that to me is this ingenuous. Why would you Why would you let someone invest five rand in a car? How did they know the second time that you had a bad piston or bad pistons?

Well, I took it to AutoZone because I had a check engine light on, and so they did the little machine that they do, and AutoZone told me, hey, it's the same piston. It's piston number five again. And I was like, okay. So I took it back to Thompson with that paper from AutoZone, and they dug a little bit and they were like, yeah, it is the head gasket again.

But you also have no I get it.

That's because okay, So when you said you don't want the other work done, what did they say?

They told me, well, we don't feel comfortable fixing the head gasket without doing the pistons.

And the check of course not, of course, not because they don't want to do free work.

I have a feeling I don't even know they did.

The job the first time, right right, I mean they might have put some put some stuff in it to you know what. Get Kevin Colkin on again. Hold on, I have a really bad feeling about this. I mean, what if they never do how do we even though they did the head gasket to begin with, they they could have put something in there to suppress the smoke and then said after it came back, well, now your engine's shot. I mean, so now you they got five

I think there's about ninety seven thousand.

Okay, listen, I don't like this. Something doesn't feel right. Something you guys, you guys listening in the studio and ask the question, Yeah, yeah, this is Deputy d go ahead for you know, is.

There any chance you're confusing the terms piston and cylinder?

Well it wouldn't matter, right, it's bad.

But here's why that matters.

Uh.

Felina said that she had AutoZone read the trouble codes and they said that there's a problem with the number two piston. However, there is no trouble code that would indicate a piston problem.

You would indicate it.

I think you're right, it probably was the cylinder.

Yeah, that's what purely important is what's important is so the auto parts place is the one that found that code? Yes, yes, they found a code for a bad cylinder. Yes, yes, if they could find it, why couldn't the other people find it?

Wait?

Was it bad cylinder? Or was it a misfire? A number two?

It was a mysfire on number five?

Number five?

Okay, yes, yes so, but but it was it was Thompson that told you you needed basically a new engine.

Hm.

But what do they base that recommendation on? In other words, what did they find wrong that requires a new engine?

I'm not sure. They just told me that the pistons were bad and the cataltic converter is bad, and that they needed to fix the head gaskets they.

Stands were bad. Would you like me to call them tom Yeah?

I sure as hell?

Do I want to know why didn't they know she had a bad engine to begin with? Or are they saying that in a month her engine went bad?

Selina, do you have any paperwork?

It's unlikely her engine went bad in a month.

My paperwork was put in my van and they haven't given me any more. Paperwork, since I should get in in August.

So you don't have any diagnona.

Your car's been there since August.

Since August?

Yes, and what are.

They waiting for? They want you to pay? How much are they saying? How much are they saying? This whole thing's going to cost you another six grand?

Well, they told me just to put the engine back together, it's going to cost me twenty seven hundred.

Oh no, you mean to get your van back? No, no, no, that's sorry. That ain't gonna work. That's not gonna work. Nope, nope, nope, nope. They had to give you an estimate up front of it was going to cost you more than a certain amount of money. I'd like one hundred and twenty five bucks or something. These people listen, I don't. I don't have a good feeling. I wonder, I wonder if they're open today. They're probably open, Deputy D. Let's call these clowns. I don't like this at all.

Okay, you know.

There's something wrong man. You You have been totally put together. Why would they charge you? Why would anyone do that for five grand? If your engine was bad? They would have known back then. How much time did you say elapsed. Was it about a month between repairs?

So it was I got it talking to me, I got it back in May of this year when I took it in in April. So then I took it back at the end of August.

So that was about three months.

Three months, okay, three months?

Okay, why is it still there? What's been going on?

Because they said the engine's bad and it's taken apart.

Oh it's still disassembled as part of their diagnostic procedure.

Yeah.

Yeah, and they won't need to pay twenty seven hundred just for them to put it back together.

Yeah, without fixing it.

Yeah, but that done on.

A But see, my husband called I think like a week or two ago, and as I like going on with the vent and they see this, well we did the head skit.

Well, then she hey, I want to bring up Kevin. Kevin call can shared an auto tech? Are you there, Kevin? So there was white smoke coming out of her car that this place changed her head gasket five grand, by the way, for a twenty nineteen Chrysler PACIFICA. Is that right in line with what it would cost poor hard Yeah? Then hold on. So then they have a warranty on it, right. So a month later, the white smoke's coming out. Three

I'm not I'm not accusing them. I'm asking I have suspicions.

Is there anything you can do to suppress white smoke that would suppress it for a few months without changing the head gasket?

Possibly some sort of a block seiler or stop league, Maybe not a hundred percent.

So no, okay, So three months later, smoke's coming out again. They say, oh, yeah, your head gaskets bad again, but we're not going to do the warranty work because now you have bad pistons and a bad cat. So now they're saying her engine is shot. So ninety seven, Oh wow, it's a lot. Here's what I want to know. If it has ninety seven thousand miles and it was three months between the head gasket and the bad so called bad engine, wouldn't they have Is it likely that engine went bad in three months?

What are they saying is wrong with the engine though?

That's bad cylinders, bad cylinders or bad pistons as they put it. No, that's that's that's I mean, Here's what I'm saying if it was that bad, they would it would have.

Been that bad when they did the head gasket.

Well, sometimes with head gas you you get contamination in the oil and then you have deterioration of bearings and stuff like that, But not pistons.

You know, I don't even know she's right that she may be confused. I don't know, Fellina. Did they actually tell you bad pistons?

Yeah, they did. They told me that my pistons are bad and my catalytic converter is bad.

Felena, After the first repair, do you recall any overheating events when you were driving this van?

No, not that I can recall, Okay.

And you took it back in because you saw white smoke or because it was driving bad.

Well, because I was seeing white smoke and my check engine light came on, so I took it to AutoZone. They did their diagnostic machine and it said that the cylinder number five what was misfiring again?

Okay again, So what would cause Kevin one cylinder to misfire?

Anything from a plug of wire. Those are the three six that's in a Chrysler's notorious for camshaft problems.

Okay, So when she takes it back then to Thompson.

Thompson says, yeah, the head gas gets bad, but so is your entire engine.

See that's what bothers me. She just spent five grand, right, that bothers me.

That's a lot for that. Yeah. I look about a used motor with fifty thousand miles on it for about twenty five hundred pucks.

Kevin can coolant intrusion into number five cause a misfire code.

Absolutely. It could also cause catalytic converter issues because it contaminates the catalytic converter M. So it's all entirely possible. But it doesn't seem like it was fixed right the first time in my room.

Yeah, a lot we do about it now. So just see what they say, Dimitri.

I mean, I'll be happy to Fellina. I just need you to give Kelly your phone number and your last name. She'll send that to me and I'll call you in a few minutes.

Kina, let's get that over.

Tear down though? Did she authorize them to tear the motor down?

What did you sign when you dropped off the car this last time?

The second time?

I didn't sign anything.

Did you say that your husband called them and they told him that they already fixed the head gasket.

Yep.

So that was the first time. And then he called him a second time.

And would you say first.

Time wait wait wait wait wait wait, when you said they fixed the head gasket, was this when you had taken it back they fixed it?

So they So the first time that I took it, yes, they kicked it as far as I know. Second time that I've tooken it into them, they keep telling me that they can't do it because.

Okay, because the bet because the engine's bad.

Right, Okay, I got it, So that's what we meant.

So so right now the car does not have another head gasket and it they'd done nothing to it except tore it down.

As far as I know. But like I said, this second time, my husband has called them twice now. And the first time that he called them, this was about a week ago. When he called them, the first guy told us, yeah, we fixed the head gasket. Then the second time that they that he called them, they said, no, we didn't fix the.

Head gasket because the engine's bad. We're going to get to the bottom of it.

Just hang on.

Fellena three oh three seven to one three talk seven one three eight two five five.

By the way, shared a auto tech.

If you need someone good, he's the guy three oh three four five five seventy two forty two on Calfax, west bots Worth.

Shared at autotech dot com.

Hi, Tom Martino here three h three seven one three talk seven one three eight two five five Chris, What is your question?

Chris? Welcome to the show. I'm Tom Martino. What's your question? Sir?

I mean ma'am, And that's okay. I have some toys from my now twelve year old grandson from when he was you know, three four, five, six seven whatever that are that are not in brand new shape, and I'm just thinking that. I'm sorry, I'm out of breath. I'm doing yard work.

Oh there there are plenty of people that would love to have donated toys.

What kind of toys, well, you know, like one of those little writer things. There's writer things.

There's are are they junk or are they just lightly used?

I would call it I'm lightly used. But here's the deal. I mean, like he broke the handle off of one of these plastic things. I'm just thinking, with the people that have the right know how, I could wrap duct tape about it around it, right, you know, something like that. I could make it. I could make it work. Most little kids don't look at it any toy aesthetically. They

Well, Goodwill, Salvation Army, there's all kinds of places that take they won't take junk, but they'll take lightly used stuff.

They will, Are you sure?

Hmm?

Okay, absolutely, I'm sure, Yeah, absolutely, I'm sure. I mean, and if anybody listening, I mean now, they're not going to do heavy repairs or anything. If something is broken, it's broken, but they'll do it all right.

Well I can do that. I can well at least give it a try.

And it's very kind of you.

Also the question Tom, sure sure?

And related I want to give the gift of a will flash trust to my mid to late thirty daughter and her husband for Christmas. Okay, okay, And I'm wondering if you might recommend somebody that I could go to and how would I write?

Of course, of course, of course there's two places I'm going to recommend Okay.

Okay, Keel and Park.

You can call them and ask them h and they'll give you a price. You know, they're very open about that. So Keel and Park they're really good people.

For me. For me, it's Keel and Park like the Keel on a boat k K E L K E E L with an E on the end, k E E L E.

It doesn't matter. It's Keel and Park like p A r K with an E on the end. Now here's what's really important. They're really good people, okay. So so and let me give you that number and just call them, and then you're gonna also call someone else. I'll give you that kiell in Park that there's nine seven zero eight one eight okay eight one nine eight.

Now is this a financial firm or what are they? I guess I could.

Look at they do a state they do a state planning.

Only they're lawyers, so they can write that up for you. They can write that up for you.

So Ken McKenzie, Dan McKenzie is McKenzie law.

I've heard you talk about it.

Now they can do it too, and you can ask him right on the phone, what do you think it'll cost I need to do this, I need.

To do that.

They're they're they're they're both very very good. They're not very expensive, and they're straightforward and don't mind talking about prices.

Dan McKenzie is is uh eight three three.

C plans. That's the number. You just look it up on your phone. It's eight three to three cerio. Either one of those can do.

That for you.

All right, perfect, awesome, thank you, Yeah, thank you so.

Much, no problem, by the way, just just a little bit about Dan McKenzie on the on the COEO Plans.

I know the number says uh coe Plans, but he is local.

A lot of people think, well, wait a minute, that's one eight three three CO plans. But he is local and he has a boutique firm. Boutique firm meaning it's small, but he gives you very personalized attention, very professional care.

And he can do it too. And he's he's in the Denver area.

Now, Keil and Park are up north, but they can still do things by zoom, email and meet if it's big enough and they need to meet with you.

But yeah, either one of those are pretty good people. So that's where you where you go for that we have more coming up on the Troubleshooter Show. We'll talk more about retirement. I have a few a few texts on that.

By the way, I got to remind you you can text me throughout the show whenever we're on the air at five seven seven three nine.

Now, put Tom in there and it'll get to me.

We all use that short code, but if you put the number in there, it gets to US five seven seven three nine, Or you can really text my personal Google phone, my Google Voice number which comes to my cell phone. It's seven four seven nine nine fifty two eighty. Okay, feel free. Now, we were talking about insurance, by the way, and somebody wanted to know about the insurance comparison I talked about that's Compass three oh three nine ninety six

That's what they do.

The Insurance helps Center dot Com three oh three nine nine six nine thousand. Hi Tom Martine here, three oh three seven one three talk three D seven one three eight two five five. Welcome to the show. We've been talking about a variety of things today, and man has it been fun. So we were talking we have an expert on about for one case.

Now I shouldn't say for retirement plans.

It's pretty boring when you talk about retirement plans in general and getting ready for retirement all that stuff.

But what I'm trying to get across to companies is that.

You have a responsibility legally and ethically to review your plans. Now, no one makes you review your health insurance, No one makes you review your casualty insurance, your liability insurance, nothing like that. No one you must review certain things. One of them is you must view the administration of your retirement plans. So I have a text here though, and I think it's pretty self evident and obvious. But I

But just like.

Compass Insurance wants to show you how they insure people. Yet Compass doesn't get all the business they review. No one gets all the business they review if they do it honestly and openly. But with I am a retirement I'm talking to John Alvarez, and I'm always looking for ways to help businesses and individuals, especially small to medium.

And you know, some of the larger businesses as well.

Without giving names, John, you have some of my sponsors, my largest sponsors use you and they love you. But what I want to ask someone wants to know. Let me find that text the way it was worded. When it comes to the review, what kind of retirement plans do you review? I'm not aware, by the way, John, of individual I mean, I'm aware of plans, right, But what different plans do you review?

Yeah, so we deal with corporate retirement plans. So it will be for one k's, Yeah, four oh three b's if it's the case of a nonprofit.

Now explain to four oh three B. Explain explain a four oh three B.

Yeah, so it's basically the same thing as a four to one K. But it's designed for not for profit organizations. So think of, you know, a charitable organization. They have the ability to set up a plan that is very similar to a four one K. What's a few differences? There are some subtle differences.

Okay, now what other plans I interrupted? Four O one K, four oh three B.

What else?

Well, yeah, four to fifty seven plans, which are generally you know, governmental agencies or organizations. So say like a water district or a you know, fire cooperative. We consider the four fifty seven plan for that organization.

But wait a minute, don't they have if they're government themselves, they still have to review their own plans.

Certainly, absolutely, all right.

And what about the new the new plans required by Colorado?

Right, those new what do they call those? Do they call them retirement plans? What do they call them?

Well, the Colorado Secure Savings Plan is that's what it is a way to get payroll contributions over to roth IRA accounts that are set up employees.

Okay, it's not a money grab by the state, is it. Somebody suggested that it's money that they want to use.

Is that true?

Now the state will get none of that. So the there is an administrative fee for the program that is part of the overall cost that is added on to the investment extent. But it's a very small amount. I think it's two point two percent. Okay, you kind of oversee the minute of the program, all.

Right, And so what about large companies that have.

Pension plans?

Explain our pension plans qualified plans, they are, right, but they don't mention a four oh one k. This text says they have a pension plan because they have a company.

Okay, I'm going to try to summarize this. It's a very long text.

It says that they have a pension plan that was set up mainly to help some of the highly paid This is what it says, highly compensated employees.

So what are those kinds of plans?

Yeah, so pension plan is becoming more and more rare, but that is something that you know, our fathers and grandfathers were accustomed to where the company makes contras us on behalf of the employee and then at retirement they are given a guaranteed income stream for life. So the employer takes on the responsibility for funding and making me, you know, the plan solvent at retirement for all their liabilities.

Do they have to be set up and review I mean not set up? Do they have to be reviewed as well by a risk Uh? Does a risker require those to be reviewed?

Yeah?

So these are going to be governed by the Pension Benefit Guarantee Corporation, So it's a little bit different. But since it is, you know, kind of an actuarial environment, it is a little bit different than the four one K because with the four one K plans you're dealing with employee contributions as well as the employer contributions, and it's a defined contribution instead of a defined benefit plan.

But a defined benefit then a pension the people don't contribute. Correct, Okay, now I have more hold on I have more. I had one one wanted to know about. Do you set up plans for people that have one or two employees but they want to do it on purpose to sock a lot of money away? Do you do those boutique kind of the small plans?

Yeah?

Absolutely So we have the ability to set it up as even as an individual for one K. If it's a you know, say it's a sole proprietor right husband and wife or something, we can actually Yeah, we can work with that.

And obviously, you know, I mean, common sense says, if you're setting up for one or two people, husband and wife, the reviews are not going to be as important as if you have fifty employees under you, right, I mean obviously, I mean it's not like it's not like a risk is going to slap your risk for not reviewing your own plan.

It's it's just the only person that Yeah, the only person that's going to sue you is you, because you know, if they are the only two participants in the plan, there's nobody really that will sue the plan s wonsor memories.

Well, let me let me ask you something.

Have there been cases where members actually can to their employer because of a badly administered retirement plan?

Absolutely, that litigation has been more and more common where it is a you know, whether it's saying that there was not oversight of the investment fees, overside of the investment selection, oversight of the fees caught charged by the administrators. There's a number of areas where really there are potential Yeah, absolutely.

I should I should have known that. There's there's lawsuits for everything. Okay, So have there ever been cases where administrators obsconded with money.

Yeah, there actually was a case here in the Dallas area a while back of a third party record keeper that was, you know, fraudulently allocating money and took off with some money. There was an FBI rate and a lot of people went to jail.

Really holy crap.

So so the money is kept though in a custodial account, right, like with an independent like a Schwab or something like it. Like if I set up a plan for forty or fifty employees or ten employees, it's put into a custodial account, right, that's right, and then the administrator. Then the administrator administrates it for the sponsor, which is the employer. But if you but there are administrator obviously, because I guess, embezzlement

And that's exactly what happened. The record keeping administrator was submitting money movement request to the custodian saying that it was for distribution requests, but they were still reporting back the employer that the money was still in the plan.

So it was a it.

Was a it was a very very difficult situation for that plan.

Slanns Now would ultimately the plan sponsor the employer be responsible for that if their administrator went crazy.

Yes, they would be. They have to do sure responsibility. That needs Wow.

See that's the reason you need to know who's administrator administering your plan. We got more coming right up. I'm Tom Martino. Hi, Tom Martino. You're a troubleshooter of three oh.

Three seven one three talk seven one three eight two five five. Hey, what does this mean?

By the way, any calls, problems, questions, complaints Like, Okay, Bob's got a question, and then we're going to go back to this quist.

We have a text, by the way, uh for retirement.

Some guy wants to know about the requirement for investment options.

Uh.

He was told that that they must have avariety of options and they can't limit you.

But I don't know that. Hold on, Bob, what is your question? Sir? What's going on?

Hey?

Tom, I remember an year or so ago you were talking about having back surgery.

Yeah. I had it in August of twenty twenty three, right.

And it was kind of a new technology.

Yes, well, it had been done about three hundred and fifty times and throughout Europe and some in the United States over one hundred and then it became FDA approved.

I was one of the first, if not the first FDA actual approvals. After it was approved, Yes.

And so a year later, was it worth it?

Oh my god? It was life changing. I mean absolutely life changing. I was trying to get into shape and I was doing really well, but I had incredible.

Pain and misery. It was life changing.

And the great part about it is it can never come back because of the surgery. And I can explain more to you in a real quick synopsis right after the news, but bottom line is this, it's not for everyone. I'll explain why coming up. I'm Tom Martino plus Warren retirement and all of your calls.

Get your calls in right now.

Three oh three seven one three talks seven one three eight two five five.

Yeah, ripped off bad news.

You need advice?

Who you don't have the.

We'll come running just as fast as we can.

Show Shooter's gonna help come man.

This is the Troubleshooter Show.

No Tom Martine, yep, I'm here, Tom Martino.

Welcome to the show.

Three oh three seven one three talks seven one three eight two five five. Man, it's gonna be a cold and snowy later this week.

Stay tuned for that one.

And by the way, this hour brought to you by eightdaight eight Heating dot Com. I just want to tell you about eight eight eight Heating dot Com. I love Garrett in the Gang, and what Garrett does is well, Garret's the owner and along with others now and this company really took an interest in high efficiency and also hybrid systems that do both electric and gas and heat

I think that number works too. But it's eight eight eight heating. But here's the other number three oh three seven seven zero two seven seven six.

So Bob asked about my back surgery. And I don't want people rolling their eyes if they heard this before. But honest to God, it of everything I've ever done, it probably changed me more than anything. I mean, you know, other than finding Jesus. I mean, really back surgery. Really, I was in constant fear of my back going out and then pain and achiness and legs. And that was like after about in my late forties it started, you know, I had arthritis.

Let me explain this in a nutshell.

All back pain comes from nerve impingement period. All back pain, right, you got all kinds of nerves going through your spine.

All back pain.

It can be impinged by arthritis which grows on the bones or or the bones being crooked or broken or cracked or or discs. But it all comes from that, Okay, that's it. All comes from that, the nerves. And some people have such screwed up backs, but no nerve impingement.

They never have pain. Now, the nerve pain is the worst than the world, and it can hurt you all over the world. All over everywhere, right, And so that's it. Right.

If you're lucky enough right now to have impingement where you can use this tops device, then you're golden. Now there's another way to stop it from mpinging, and that is what's called a fusion. So the spine moves and pinges nerves and cracks nerves and hurts nerves, and so some people there's all kinds of ways they address it.

That's all the good news.

I also heard they're using it above and below fusions. Now if you have multiple levels, they put the fusion in, and then to keep the adjacent disk disease from occurring above and below, they're putting TOPS above and below a fusion. It's that's real because TOPS right now is only approved for one level at a time, not together. So you can have one level above the fusion and one level below the fusion.

So now you have the fusion, but it's.

Relieving the pressure of the fusion on the adjacent discs. I hope that makes sense anyway.

I had it done one level L four L five back in August. I was walking.

Around that after that, right after surgery in the early evening, and people who had fusion were in wheelchairs getting out of bed, and then I was out of the hospital the next day and literally working out. Now I shouldn't have worked out. I'm not recommending you to do it, but I was feeling so good. I was working out, not directly on that, but and I was walking the neighborhood and I have never had pain since then, period, never never done.

So do you have any follow up questions, Bob?

The only thing I have is, I know not every doctor does that, That's right.

Do you have a use?

I used?

I used, like I said, and he went. He did this for me. He literally got trained for me in the beginning. I was his first patient with this, and he's wonderful. But now he'll even tell you I think there he's not the only one in this practice that does it, and there are other doctors in the metro area that do it. Now, Please do not accept any substitutions for this. There are now kind of devices that kind of mimic this or try to and they're just

I'm not saying he's the only one, but he was the guy that.

Did it for me and where he's a really good guy, and it's at Saint A's that that's where he is. They have offices all over Neurosurgery One and there's probably other doctors that do it now. Remember even though my medicare paid for it along with my supplement.

Uh, he told me when I went for a one year later, I went.

To him and he told me that some insurance companies are still turning it down, calling it experimental, which really bothers me because it's FDA approved. But be aware of that. Okay, but you can start there. You can start there at neurosurgery one, doctor Joshua Beckman, get it.

Get an appointment, and uh, it's busy. He's done so many of them, and uh, it's it's it's a wonderful device. Bob.

Please give me a follow up and let me know how you're doing. Okay, you can text me at that number.

Two. You can text me at my Google number seven four seven fifty to eighty. It comes right to my phone. Martin. What is your question?

Hi?

Martin? What's going on?

Good Tom? Thanks for taking me, Tom. I just sold it all and I want to know how much of the postseeds can I invest in another?

Okay, so you go ahead, No.

Trying to miss the tax implications.

I don't know business, Okay, got it?

Got it?

Did you? Did? You just did you say you sold a home?

Yes?

Okay? How old are you.

Sixty?

Okay? That doesn't matter so much.

But I had some other ideas for you, okay, if you sold a home right now, and it might stay this way.

For a while.

Since Republicans got in, up to five hundred thousand dollars per married couple is excluded from capital gains taxes. Okay, if you're single, a single taxpayer, it's two hundred and fifty thousand. How much did you make in profit? How much?

Six hundred? Okay?

Now, no, did you make that all in profit? Or was it six hundred total.

Profit?

Wow?

Holy crap man, how did you make six hundred? Tell me when did you.

Buy your house?

Twenty two thousands?

No?

You?

Okay?

So you you bought your house in two thousand and made six hundred.

Thousand on it.

Yep?

Wow.

So, and when you talk about profit, you take what you paid for it, plus the commissions to sell it, plus the improvements you put into it, the permanent improvements?

Are you adding all of that in? No?

No?

Okay?

To get your true basis, okay, Martin, you take the price you paid for it, and then any commissions that you paid to sell it. And during the life of that house since two thousand, did you do any permanent improvements? Not man, okay, but if you did, if you'd go ahead.

No, just roaston, you know, the yeah maintenance.

Yeah, Well, whatever you did that you actually paid for your insurance.

It wouldn't count of it was your insurance.

But whatever you paid, that's your basis. So let's say you truly made a pure six hundred thousand. Are you married?

Yes?

Okay? Good, and you filed jointly yes, okay. So the worst case.

Scenario is that you have one hundred thousand dollars unprotected okay, okay, okay, and the capital gains tax would be fifteen percent federal, and I believe you have some state on that for a total of twenty so, yeah, twenty percent, So you would pay twenty thousand, so you'd come out with five hundred and eighty thousand.

After that, you.

Don't have to put a penny into another house. You can go to Vegas, okay. So, so it used to be Martin that you had to reinvest it in another house that was slightly more expensive to absorb the gain. That's no longer in residential real estate. If it's your primary home. Was it your primary home?

Primary?

Yes, yep, and you have to have lived in it for I think two of the last five and then it becomes your primary residence. In fact, let me tell you, Martin, let me tell you what some builders do, or fixing flippers. They buy houses and build them, or they either build a house or fix up a house, and they keep it for two or three years and then sell it and don't pay any taxes whatsoever.

And they keep doing it over and over.

That's amazing.

Yeah. Yeah.

So anyway, good luck to you, Martin. Thank you very much for calling. Three three seven to one three talks seven one three eight two five five. Remember water Pros has the best systems at the lowest prices ever right now till the end of the year thirty one ninety five for a whole house softener along with the reverse osmosis for drinking. You'll never find this price anywhere else. And that's Waterpros dot Net three O three eight six

Kate, Welcome to the show. Kate what's happening.

Yeah, I will have a question for you. A couple of this they go back a couple of years. But you talked about a strategy of and I believe you called it harvesting, where this was my sense of it, that you have an investment and then you you sort of skim or take some and I think just put it into cash.

Hmmm.

Did you you recall this at all?

The heart I now hold on I have talking about.

I'll bring up I'll bring up one of my colleagues here, and this is uh Pat Jolliff. He works with me at Wave Wealth Management. I think I know what you're talking about. Pat, I think I know it shit, but but let let me know. I don't want to force it if it's not this. What I said was this. I said, if you have equity growth in investments, the equity growth in and of itself does not do you any good if you can't convert that equity to cash flow or to other investments. In other words, it just

If you spend it, it goes away.

If you buy something with it that appreciates, like art or real estate or something gold or whatever.

I'm not recommending these things.

I'm just saying if you convert it to something that grows, that equity then helps grow that money, but it will not do you any good unless it converts back to money.

So conversion is.

The only form, is the only way to realize wealth. You capture cash flow and you convert it to equity, or you take equity and you convert it to cash flow, or or other kinds of investments. Pat, geez, that's what we're talking about. I think, Oh I got.

To unmute you.

Yeah, that would be good. He needs to be unmuted so he can speak. See, there's nothing like a financial advisor to be muted. Okay, go ahead, Pat, Sorry.

No, that's great, and I agree with you, and it's you know, one of the things that comes to mind is when you have an equity investment like that and it's grown, you have a capital game, maybe it's real estate or something else, but you're not getting any cash flow.

You get your retirement. You want some income.

So we could take that and convert it to income, for example, by constructing a direct bomb portfolio right right from Colorado's You know, it's well known. I mean, they're sought after for municipal bond issues in Colorado because they're so solid, they're rated so well.

You know.

We by the way, speaking of I want to explain something and this is nothing against Joe. I love Joe, Keano Joseph and his annuities, and there's a place for that. But a lot of people overlook bonds. Bonds are truly they're not equities. They're considered a debt that you buy and you buy it and you're paid, and those are as good as any.

Guaranteed product in the market.

Because if they're backed by a solid company. I mean, doesn't even Tesla have bonds. And certain companies have bonds right.

Well, sure corporate rated bonds out there, and they've done a great job over the years. Who want to The bond markets are completely different than the equity.

Market, totally different.

You want to be careful about that.

You know, the biggest amount of risk that you can have in bonds is referred to as credit risk. It's the ability of the issuer to repay repay its debt. And you can lose money in bonds. And I want to say that very loud and clear. There's a lot of people, even in my industry that don't understand the bar and market very well.

And I don't blame them. I didn't either.

But to say that bonds are safe and only produce income and so forth is incorrect. It's still accurate to say investing involves risk. Savings doesn't. And so when you're investing that include bond, that can include bonds, and you can have devaluation based values. But we understand how that works and we you know, we screen it. We have our own expert bond trader that we've worked with for years and years just excess.

So speaking about a bond, though, explain how it can be like qualified money once you buy a municipal bond.

So, municipal bonds, particularly when they're issued in the state in which you live from the.

State in which you live, are double tax exemp.

So the first thing is whatever interest rate that you see on the bond, the coupon interest rate yield, they don't mean the same thing. If it's five percent and it's a municipal bond that's issued by municipality in Colorado, whatever that interest is that you earn is not taxable at the federal or state level, so it's double tax exemp.

Now, by the way, Kate, there's something really important I want to tell you. When I talked about conversion, I'm not talking about churning you.

Really people. I've said this before that there's three kinds of investors. There's people who like I call like Mark my partner. Mark.

He takes his own money and invests it, and he babysits it, like babysits it every frickin hour, every minute, not necessarily, but every day. So and he buys certain stocks, he hand picks him, and then he sells him and then he holds them and they Okay. Those kinds of people they don't want financial advisors. And I don't blame him, they just don't want them. They do it themselves. Then you have people who invest in their companies.

They like.

Maybe Deputy d Over here, you know, he starts it's his company. He puts his money back into his company and makes a crapload of money make investing in his company. And I know other people who do that.

Garrett did that with eighty and eight Heating, and George did that with fix It twenty four to seven.

They invest in their own thing and it's active right now.

They might take some of that and put it elsewhere, but their main priority is their business. Then you have people who have some money that they put with advisors to do a variety of stuff, but don't ever go with an advisor or a broker or.

Anyone who always is changing you up.

Okay, they're trying to make they're trying to make commissions on that.

That's a bad way of doing it.

So when I talk about conversion, that's you Kate saying, you know what, it's time we get rid of this artwork and put it into these bonds, or it's time that we get rid of or I take some of my income and put it here, or I take some of this and put it there.

It's not churning. It's conversion.

Like when you want to buy a home, you may take something like cash flow and buy a home which grows inequity.

So that's what we're talking about.

Okay, Well, let me just clarify really quickly that I was thinking about within a.

Furl and k.

If you have a lot of your money, obviously it's done very well invested stocks and bonds, But what about taking some of that and converting it to cash just for it to be safer. I mean, we're retired, so we're the seventies.

No, I don't believe that would be a wise idea because you're paying you're paying a penalty on that, not a penalty, but you're paying income tax on that.

There are the weeks.

I wouldn't pick out, I would just change the where.

It's Oh, Pat, she's talking about allocating to cash.

Well, how do you feel about that? Is that what you're talking about, Kate? I am an allocation, yes, yeah, an allocation to cash. What is cash making right now?

Like when you take some of my cash now and then are some of my money and put it in cash?

What does that make making? Pat?

Well, it's on its way down.

But you know money markets that we use right now probably about four and a quarter or so, and they've come down from four and a half.

Well, may I, may I ask.

I'm going to ask you this because you're you're the chief investment advisor as far as the company goes.

There are times you do that with some of our people.

Why well, yeah, there's a number of different reasons, and that can be just stability of the portfolio. What we understand about volatility is you know, if we can manage volatility over time, the portfolio with less volatility and the same type of average annually to return will make more money over time. Contingent reserves for cash purchases and the short term.

A lot of.

People don't want to keep the money at lower yielding accounts for their savings accounts, and so we can improve that by putting it in a money market account that traded, and sometimes those yeals are are more competitive than what the banks are doing. And right now it's an interest rate enviyer and flocks obviously because we're finally getting the femines lower some rates, and so that's affecting a lot of things right now, fields included.

Okay, so what I want to know if you were going to go to cash, Kate, If you were, what would you be earning on it?

Well?

Yeah, I'm not sure. I mean, I have to look at that and see because I don't know.

But I and here's another thing.

Here's another thing I found and I don't want to mention any names. Some when we review portfolios, we found that some people have gone to cash. And even though it was not a bad return, I think it's a lazy advisor who takes assets under management and just puts them in cash, because Kate can.

Do that without anyone, right.

In other words, so do you have people that you're paying an advisement fee?

And if so, then cash is worse? Makes sense?

Yeah, I hear what you're saying.

Yeah, so.

To avoid the volatility of the stock market, especially in uncertain times, which you know we are okay always, but you know, I'm just wondering if it's a portion of it.

Well, no, you won't go Are you doing it yourself or do you have an advisor doing it?

We do have an advisor.

Yeah, okay, well, okay, if I was going to go to cash, I would take it out of advisement because you don't need to pay fees on it.

And incidentally, have a point on that.

Go ahead, Pat, just to let you know.

And I think it sets us apart a little bit is that we can charge a fee independent of the asset class, and so we would not build, for example, on positions held in cash. Bonds would be different, equities would be.

Yeah, that's what I'm trying to get at.

But I didn't do that right inside the portfolio. And that's we can be you know, be surgical about the feed. That's the time two different assets.

Yeh see.

We don't believe in charging a fee for something and someone can do on their own or or it's a it's a maintenance fee more than anything. But that's all I'm saying. And kay, I promise you when people call me for advice. I'm not trying to steal your business or anything. But here's what I want you to do. I want you to know what you're paying for what you're paying, and if you're paying the same for everything,

So I got a text that says, basically.

I just need a few ETFs maybe or so I need some retirement income. I don't need an advisor, and I don't want to pay advisement fees. Okay, I understand that completely, and I told him Pat, and I meant it. I'm not kidding. You don't have to pay if you want to do your own management. And you just need advice here and there, and you want to ask questions. We'll do that every day. I'm serious. Okay, I do it anyway.

I'm on the radio.

I have experts all the time, and we always give advice. I mean, it's not you don't understand something. Let me explain this straight up. I've made my living. I'm seventy one, Okay, I have thank God for that. I have a good base. I have, I have what I need. Okay, So when I tell you that, I'm not kidding.

You know, it's funny.

It's the hardest thing in the world is try to explain to people you're not trying to get into their shorts, you're not trying to get into their pockets. But but you know, listen, if so this guy I told them, you call us. If you're going to do your own management all that. You just want advice on what to do and how to do it and what we do. We'll do it all day long, all day long, with nothing, nothing,

So Dimitri has an update. I want to go too, So Pat, I'll I'm gonna excuse you for a second there, and we'll.

Go to Dmitri. Now, Dmitri, what is going? Let me go to that wide What's what do you got, sir?

Oh, thank you for reminding me.

I'm so. I called Thompson Automotive and I had actually a couple Yeah.

Let's explain this problem because it it really was crazy.

I mean, I don't like it.

She said her twenty nineteen Chrysler PACIFICA ninety seven thousand miles. They put five thousand dollars into it with a head gasket and she still had problems. They said, well, now your engine's won. And that was three months later. Go ahead real quick then, Okay.

So I had a couple of conversations with Christy over there, who's very forthcoming, very knowledgeable, and it is totally fully briefed on this matter. She's been dealing with a consumer this whole time. Yeah, so the story that I got from Christy, and I tend to believe her is very different from what we got from the callers. So, first of all, the van is ready, it's it's been repaired and it's ready to drive on.

Yeah, but they want her to pay for a new engine.

No, So here's what happened, all.

Right, hold on, I got to take there.

I want you a longer story. Well, we deserve that they deserve, Thompson Auto deserves to be heard. Then I think, okay, we got more coming right after this.

Hey, I'm Tom Martino, three oh three, seven to one three talk okay.

So Dimitri, so this this place. She took it to Thompson. She said they did the head gas hit for five grand. Then they said, by.

The way, you know, uh, you need a new engine. So what's the real story here?

So they fixed it and it ran for a couple of more months until it developed the same head gasket issue in the same cylinder in August. The car went in in August and with the intention of making a warranty claim. When Thompson tore down that engine, what they saw was not only did the head gasket fail on the same cylinder, but this time they observed the cylinder wall scratching, and as you know, that's a ruin. So what do they think, Well, they well, the piston was bad. Was bad?

Did they say she did it?

No, nobody knows.

What they're saying.

They didn't do it, Okay, right, because it's not a consequence.

So they fixed the head gasket.

They replaced, well, they had to do more than that. They installed another They happen to have the same kind of engine, and so they used they pulled a used piston rod and the piston out of that installed it for her. What are they charging, Well, the whole shebang came to just twenty seven hundred dollars and it's ready to drive away, cake, And.

So the original drop of five this is twenty seven. She said it was going to be another six grand.

It's not.

Well, if she wanted to buy a new engine, it probably would, okay, but it's drivable right now.

So you believe then that they didn't cause this and that it's a good deal. And it's twenty seven hundred for what they did.

Oh yeah, you have to take apart at the bottom part of the engine, all right, place.

I we got to run. We're out of time. Don't forget folks. Whatever you heard you can find on the podcast. You can also text me at three oh three seven seven or call us three O three seven seven one help for any information