The Troubleshooter 6-17-24

Yea ripped of news. You need advice, so you don't have come running. Just as fast as we can, Shooter's gonna help come Dix is the Troubleshooter Show. No Tom Martino, Hi, Tom Martino here, Welcome to the show. Three oh three seven one three Talk three o three seven one three eight two five five. Ready to take your calls, questions, complaints, problems, whatever you have on your mind. And hello everyone. Mike see I got a good crewd on my YouTube moron starting and uh, Facebook

flunkies, but YouTube morans are far outnumbered. And then I mean the Facebook flunkies are far far out numbered by YouTube warrants. We're we're basically getting together every day and try to warn you of problems and questions. I answer questions and take complaints and really, as I say, to make your life a little easier. And that's really what we do each and every day, and

we love doing it. So all you have to do is call, and when we're on the air, you can call three oh three, uh six, three oh three seven to one three talk three oh three seven one three eight two five five, or of course you can always call twenty four to seven three oh three Martino. Now when you call that, whether we're here or not, you can leave a message and we will get back to you three oh three six two seven eight four six six. So what I'd like

to do is start out by telling you we have some guests day. We're going to talk a little finance here and there. And you know, finance, to me is really important. I think the crux of everyone's success is how they handle their money. Now I'm not just talking about investments. I'm just talking about handling their money. I think there are two problems that I

find with young people that start their trouble. And if you're a parent, grandparent, if you're younger, if you're having kids, if you yourself are just starting out. I'm going to tell you the two main areas. The two first areas that cause trouble for people. The two first and foremost credit cards. Now I'm not the type that says never use credit cards. They're all bad. They're not bad, they're tools. Credit cards should never be

used as extra income. Ever. I know that sounds so obvious, but you be shocked at how many people use a credit card to buy things they can't afford, and then they calculate they calculate the monthly payment, and what they start thinking is, well, I can make that payment. What they don't understand is a minimum payment, We'll have you in debt for twenty years.

It's ridiculous and you you know, and it's snowballs. So you should never buy something with the idea of calculating a payment and yeah, I can make that monthly payment. Eventually, what happens is those monthly payments become exorbitant. But even if they're not exorbitant, you're overpaying for everything you buy. So credit cards are the number one killer because they extend credit to everyone in the beginning. So if you get a credit card, you can end up

in very big trouble. And I knew a young woman who had six credit cards and she would buy whatever or she wanted. She wasn't making enough money to buy that stuff outright, so she would buy it make minimum payments. She was buried, headed for bankruptcy. That can get you in trouble. But what's really bad, Well, first of all, then people ask when do you use credit? Credit is meant as a convenience to buy something, and then you can It's first it was for emergencies. I mean the wise

person would use it for emergencies. I mean, obviously, something goes wrong and you can't wait to get it fixed, like your car to get to work, or maybe something around your house, so you use a credit card to pay it and then make payments on that. But you should attempt to pay off anything on your credit card monthly is ideal. If you can't then in three months, and at the extreme six months. You should never make a purchase you cannot pay off in six months, and then you did not

have any more than two outstanding for six months. You can have you can have one that pays off in three months and one that pays off in six months, but you have to calculate. Never make minimum payments. But credit card debts snowballs, and people take vacations and buy things that they should not be doing because they don't have the income. But they start thinking the credit card is like income, and then they make those feeble payments and it's snowballs.

That's number one credit cards. Okay, So credit is for convenience number well, first for emergencies obviously, and then yes, convenience. If you really want something, you want to reward yourself, but you've got to be able to pay it off in one to three and at the very outside six months. Okay, and you can't have too many things you're paying off in six months. I'm talking about you don't keep charging now. I know. I'm going to tell you something that that that that is a hard concept.

Today, we truly have We have a notion that everyone should have everything they desire. We really do. We don't say it, but we really believe that. In fact, there are lawmakers that attempt to control outcomes of things so people can have everything. And immediate gratification is another concept that has become common. Everyone wants things now. And what we need was that Joe is joining us via phone. Good, I got you. I was going to

introduce him. Thank you, thank you, thank you. So people want stuff now, and what they do is they don't look to the future. Get it in the future. And that's another concept that gets people in trouble. Okay, So that's credit. That's credit and the use of credit. In fact, the second thing negative equity in cars. I swear to God, if you're listening to me, you can save your kids, save yourself,

save everyone trouble. Those two things kill people. When I talk about negative equity, and I'm not going to get into it right this second, but I want to ask Joe Kanno, who's a certified financial planner. He gives when he does seminars and stuff. He talks about one of the main problems people have is keeping money out of the dollar they earn. And he will hold up a dollar and say, this much is for taxes right off the bat, and then this much you pay to others just to finance things,

and then this much. He goes through it. Joe, let's go through the dollar scenario. Okay, how much of that dollar? Now, that dollar up to a third of it goes to taxes right now, right, and two thirds goes to finance charges. Now now, hold on, just think so finance charges. So you're saying out of a dollar, are you truly meaning people can spend sixty percent of their paycheck. Yes, the average American spends one third on taxes two thirds in finance charges. Well,

then that leaves nothing, Joe, that doesn't make sense. So that leaves that leaves one third of a dollar. Well, hold on, you just said one third on taxes, yeah, right, and two thirds on financing. That's three thirds right, that's all of it, right, It's about

they have about a third left to spend then. So basically, you know, if you take a dollar bill, if don dollar bill goes to pay for finance charges, another portion goes to pay for taxes, and they have a very little amount left for themselves, right, Okay, so whatever, the percentage doesn't matter, but very little. And the finance part of it, the finance charge part of it, starts at a very young age.

They do, you know a lot of you know in fact that children, you know, teenagers are getting credit card offers from banks and credit card companies at the age of sixteen or seventeen. I used to give them for Jordan in my milks. So they start on that finance problem right away where they are paying others to finance things. Now for short term convenience or emergency emergencies.

There's nothing wrong with that at all. What really he gets to be the problem is when you have several things washers, dryers, or when you're younger, whatever, vacations, clothing, purses, jewelry, This gets to be a big problem and it will totally devastate you. Hold on a second, we have a call coming up. We have Joe, we have your calls. But listen, people, I'm serious. Do you realize we don't have a problem with what people are earning. Oh, there's definitely a disparity

between the highest wagers and the lowest. Yes, there is disparity. Is the nature of the economy. Nothing will ever be equal, ever ever. Okay, that doesn't mean it's hateful, That doesn't mean it's racist. It's different. What you contribute is different than what someone else contributes, and society puts a value on it. There's nothing wrong within equality when it comes to who makes what for what. They're not all the same, they're not all

equivalent. That's not necessarily bad. People go to the level they can do. Now, if all you can do is if all you can do, let's say, is the fast food industry, if that truly is the maximum you can do and you don't have the capacity to do anything else, that doesn't mean that you must elevate that job to something that has way more cultural impact and make it equal. You can't. And that's what we have to

get. We got to get used to the concept that one equality in respect and the way the laws applied and opportunity should be equal, but outcomes will never be equal. Your station in life will be what you do with it. It will never be equal to all. Ever, what we can't do is try to spend our way out of it with credit cards or try to we just ruin ourselves. So let's talk about really and truly building wealth,

not BS wealth. And then the net wants to talk about a home warranty, and I'm going to give her more time, so I'm going to take this break. And when we're on the topic of products, waterpros dot net Paul the waterman. He said, I want to make a product, and not make a product, but import a product here, and I mean import from the factories. They're American made. I want to bring in products that are of value that I don't have to charge fifteen grand like other plumbers.

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cheaper than anywhere and better. Three oh three eight six two five five five four. Go with a sure thing Denver's best roofer Excel Roofing dot com. You don't pay a cent until you're content. Time for an insurance checkup free, no obligation. In comparison, call Compass Insurance paying too much your coverage at dozens of insurance companies find out out now three all three seven seven to

one. Help. You'll think you're his only customer when you choose Frank durand the real estate Man dot com to list your home with Remax Alliance three all three nine two zero sixteen twenty two. Hi Tom Martino, your troubleshooter. Three O three seven one three talks seven one three A two five five Welcome to the show. If you're looking for Solarprobdenergy dot com. They can do it all commercial, residential, and they're great at sales and installation and service.

You know, there are only a few people I believe in for solar. The rest are clowns. I'm serious. Probdenergy dot Com can take care of you. Let's go to the net. The nete welcome to the show. What's going on with you? And welcome to anyone else who wants to call three O three seven one three talk seven one three eight two five five what's going on in net? Interested in your opinion about home warran Chy.

These companies are plentiful out there now. And I am I am currently with and have been with since the eighties of having a maintenance plan on my appliances and many things in the house. And things have changed and the company is kind of modeling themselves after all of these newer companies that have cropped up where

you pay a deductible for each visit and so on and so on. So I was looking into another company, and I was looking at Choice home Warranty and wondered if you knew anything about that company, and if not, if you might be able to look into that company and how they perform. May I ask something, why do you have a warranty? Good question? Well, because it has. It has over the years served me well. It

takes care of many many things. I mean the current plan that I have, I could have up to forty items on this plan and there was no charge for any visit, no matter how many times they came out throughout the year. If they couldn't fix it, they replaced it. Okay, here's what I've now. Now, what kind do you have right now that does that? It's with serious okay and serious changing. I mean they're changing. Yeah. No, no, you're never going to get a plan like that.

Now, here's what I truly want to ask. What were you paying by the month? I don't know by the month, by the year. It had risen over the years, because, like I said, we've had this. If you had to put in if you had to imagine in an imaginary bucket, put every dime that you paid for that warranty in that bucket and then put every dime that you got out of it, would you be ahead? You know, I never really took pen and pape. No one does, because you would not be ahead. I'm just gonna tell you you

just won't be. But but but hold on. What you're doing, though, is you're doing what's called and and by the way, we're assuming they're going to take care of things. So by a let's just assume they're gonna take care of everything that they should take care of. They don't, but let's assume they do. You will still, here's what you're doing. You are getting a level monthly payment for peace right rather than trying to dish out two grand at once. Okay, here's the problem. You asked me what

I think of warranties. If truly warranties were warranties, I would like them. If they would say to you, all right, Nnette, we're gonna come over and inspect your home, and you're gonna pay for what we're gonna cover. Okay. So what they do is say, okay, we're gonna cover this, this, this, this, and this, and they inspected it and they cover it. Peer I would love it, but they don't do that. Here's what they say, how many systems do you have?

What do you have? What do you have? And then they tell you you mentioned forty items. So let's just take realistically twenty five items. Let's say in your home you have a washer, dryer, water here. Okay, say they say the Nette, we're going to cover you for twenty five items, and those twenty five items are going to cost you a certain amount of month. Okay, So for twenty five items, let's say you're paying

and I'm going to give ridiculous numbers that aren't real. But just just to give an example, you're going to pay twenty five dollars a month for twenty five items, okay, and you're going to be covered now. You pay that, let's say for two years, and when you have a dishwasher problem. By the way, I'm giving you all honest to god true scenarios that have happened. So in two years, your dishwasher, you have a problem with it, and they go out and say the nette, we're not covering

that. That was a pre existing condition. And you say what you say, yeah, that thing must have been like that two years ago because it was too long. They call it a pre existing condition. And your dishwasher, let's say, is ten years old. Of course, there's a lot of pre existing conditions. So they say, we're not covering it. Now do they go back in time and say, but you've been paying twenty five dollars for twenty five items, which really, since it was pre existing,

we were never covering that to begin with. Therefore, we're going to rebate to you what you were paying on this dishwasher. No they don't, no, no, no, they don't. In fact, they keep charging you twenty five dollars. And let's see, another year goes by and another problem happens and they say, oh, we're not going to cover that because it's normal wear and tear. And you go, oh, now do they go

back and adjust your premium? No? No, no they don't. And I'm going to tell you there are things they will not cover pre existing conditions, which how the hell do you know? Normal wear and tear and customer abuse and lack of maintenance. Now, I want you to think of those things, because almost everything that goes wrong will be previous. It'll be normal wear and tear, it'll be owner abuse, or it will be lack of maintance, almost everything. So what are they covering? Manufacturing defects? Now?

I want to tell you something. How often do you have manufacturing defects? Now? Here's the deal. Here's what I really or catastrophic failure. Okay, they'll cover that. Now do they pay off? Of course they do from time to time they pay off. But what I don't like is this. They extract from you a premium based on what they tell you they will cover, but you don't know what they're going to cover until it goes wrong. You don't know. So you're paying for something. Here's what home

warranties companies say. Here's what they say, and they hate when I bring this up, but you read their contract. Here's what they say. You're going to pass x amount of dollars based on this many items, but we're going to let you know what we cover when those items go bad. So if they went and inspected a home and then said, okay, here's what we're covering, like a real insurance company or a real service company, but

they don't. They blindly cover everything and then look for exclusions later. Now, some people happen to hit it right and get something that pays off, but most of the time they never pay off. They may do something here and there. But I assure you, if you put into a bucket the money that they supposedly are going to cover you, and then you take the other how much you took out of the bucket, you're going to be behind. And people are going to say, well, of course, that's because

they have to make a profit, that's right. So do they have your best interests? No, they do not. They're not a home warranty. Now, Now people say, well, Tom, I like wine. Okay. Most people that say they like their has never had a problem or they had something replaced, so they think it's wonderful, But they're going to come across something major when they won't replace it. And by the way, when you say replacement, there's an actual cash value max on that that you're going

to find in almost every policy. Here's another thing I want to say, So what do I recommend? This is the one time you would be doe head absolutely positively dollars ahead if you took a credit card and put it aside for home emergency. That's it, home emergency, a credit card. Now the monthly payment that you are paying for that, put in a savings account, just put it somewhere, put it in a CD, put it anywhere, and then when something goes wrong that you can't afford, you put it

on that credit card. And then you pay as much down on that credit card as you can with the money you've saved, and then you make the rest of the payments and pay it off. Then when you're done paying that off, it's done. It's done. And then you don't have a warranty payment every single month, no matter what. So do I believe in home warranties? No, not the way they're currently written, they're the worst deal you can buy. With a credit card and a savings account, you will

be much better off, way better off. Even the interest you pay on a credit card paying off a home emergency is less money than paying for twenty years of premiums. You'll see if you put the money, if you put the if you put down on paper, you will see it. So no, I would not buy one. In net so I can't tell you. If you can find one that will inspect your house and guarantee coverage on everything that they cover, then I pay the premium. Gladly we have more coming

up. I'm Tom Martino. Go with a sure thing Denver's Best roofer Excel Roofing dot com. You don't pay a cent until you're content. Time for an insurance check up free, no obligation. In comparison, call Compass Insurance paying too much your coverage at dozens of insurance companies find out now three oh three seven seven to one help. You'll think you're his only customer when you choose Frank durand the real estate Man dot com to list your home with Remax

Alliance three oh three nine two zero sixteen twenty two. I'm Tom Martino. Welcome to the show. Three oh three seven one three talk three oh three seven one three eight two fo five. Speaking of wise financial moves, Compass Insurance Group will do free insurance checkups three oh three nine nine six nine thousand. They'll compare twenty six companies. Tell them what you have, what you

need, and they'll be honest with you straight up. If they can't beat it, they can't beat it. Three oh three nine nine six nine thousand. So the average premium on a home warranty, well, there's no average. There's a range from thirty five dollars to ninety dollars, honest to god. Now most of them fall within forty to seventy dollars, and the forty you get not much. But they're like major systems, supposedly. Here's the

thing. Whether it comes to waterline coverage, sewer line coverage, home warranties, they all suck. I truly recommend a credit card, and I truly recommend you stash money away. If you're gonna make the payment on the premium, just stash it away. You will be mile and miles ahead. That's just life. And even if you had to finance a furnace with a separate loan. A lot of these companies Plumbline fix at twenty four to seven eight

eight eight, Heating, dot Com Brothers. All of these major companies on my referral list have financing and your miles ahead. Some of them be eble to have twelve months same as cash your miles ahead. Doing that, then having a home warranty. Home warranties suck. And I defy anyone, and I promise you, I'll give you your say. Anyone listening anyone, you, especially if you sell these things, let me know. I want you to tell me because I know what your exclusions are. I know what your

contracts say. You will never you know, normal wear and tear, for God's sakes, that's what breaks down. Yeah, what what is this pre existing condition? Crap? Threeh three seven one three talk three oh three seven one three A two five five. Now we are talking about your life, liberty and the pursuit of happiness. And I have some news here that I've I've gotten together. Okay, right now, people are complaining, listen to

this. I never thought of this, but they claim bosses claim. This is a research project taken on by one of these big job sites and the Wall Street Journal. Employers are complaining that employees are now afraid to talk on the phone. Younger employees. I'm you know, forget all gen and stuff whatever. Younger employees. Let's just call it what it is. Employees in their twenties, thirties, and early forties, but mostly twenties and thirties either

don't know how or are afraid to talk on the phone. Why because they're the texting generations. They text, they do shortcuts and texting, and are losing communication skills, especially when it comes to phone work, and they're finding not only do they not like talking on the phone, they don't know how to communicate and to get people to do phone sales is almost impossible now. So guess what they're Guess what they're what they're adding. They're adding artificial intelligence.

Artificial intelligence. Artificial intelligence is like the new thing. Do you think you can tell if you're talking to a robot? Do you think you can tell? Not? What you think? Now? I had some Did I ever play these? I actually have honest to God live samples not love. Yeah, yeah, they're recorded live and they are examples of phone work AI. I actually I swear to you I did it. I'm gonna try. I'm looking for one right now. I actually have one. Let me see,

here's one now, this is for sure. Now, this is a solar company in Florida that was using an AI bot. Listen, Hi, Judy, it's Amber. How have you been. Yeah, I'm just getting back to you in regards to the electric meter that was installed at five hundred and twelve Langford Lane. I've been a photo of your home to make sure we're looking at the right place. Do I have the right house? I don't know. Oh, I'm driving right now and I can't divert my attention

to my phone. No worries, I understand when you have a moment. Could you take a look at the photo and let me know if it's the right house? Now? Hold on, do you hear what's going on here? Do you find that remarkable how they respond to the variables? This is an honest to god real call. That's a robot you're listening to. I think the lady in the car is a robot. Listen, Well, not while I'm driving. We'll have to do this call another time. Can you

call me back tomorrow. I totally get it. Unfortunately, I have a lot of people to speak with and won't be able to call back. However, if you have some time over the next couple of days, I can have an expert speak with you. I have availability tomorrow at four pm and five pm Central time. Which one works better for you? Make it four pm? Do you hear this? And one ession in regard to is it

to solar panels? So a couple of years back, everyone's electric meter in New Boston was upgraded from analog to digital in preparation for the net metering program. This is the reason for my call, which is being recorded for quality assurance. With this program, there is a possibility we will be able to help you reduce your electric bill by up to forty Has anybody come by to talk to you about this upgrade yet? Yes? If the gen regard to sower panels, then I vouted not to do it. So if that's what

it is, I'm not going with. I understand your concern, but trust me, our team is really good at what we do. We do a free energy evaluation for everyone with the new meters, and whether you want to save money or not, we just want to be able to give you the information to help. The mornings or afternoons usually work better for us. I think she goes right to the appointment after gotcha, we are super busy. But what day in the next day or so works best for you? It

would have to be tomorrow. I'm busy the rest of the week. Okay, let me check. Now, listen, it's uncanny, tom there's no question, no no, I mean, can you imagine the intelligence it takes. I mean that the programming. But this bot goes on and then they have a mail that does it as well. This bot goes on, I swear to you, and probably is successful eighty five percent of the time. Now that's an incredible appointment setting rate. Now I want to tell you.

I'm not going to tell you the name of the company, but I know someone personally who's using it here in town, and no one suspects it's a bot. No one, No one I saw him. You know what, I think we ought to get a bunch of people to sign a petition to Don'tier airlines use AI. Since you can't talk to the real person at least, maybe that would help, right right anyway? Three oh three seven one three talks seven one three eight two five five. You know that's good idea.

We should Anyway, we got more coming up on the Troubleshooter Show. Go with a sure thing Denver's best roofer Excel Roofing dot com. You don't pay a cent until you're content. Wait time for an insurance checkup free, no obligation. In comparison, call Compass Insurance paying too much your coverage at dozens of insurance companies find out now three oh three seven seven to one help. You'll think you're his only customer when you choose Frank durand the real estate

Man dot com to list your home with Remax Alliance. Three oh three nine two zero sixteen twenty two. Yes, I'm Martino, you're Troubleshooter three oh three seven to one three talk seven one three eight two five five. Okay, So what's going on in your life and how can we help you? That's what we ask every day. Three oh three seven one three talk seven one three eight two five five. Now I don't have time to take probably calls right now because we're toward the end of the hour, but I will

be ready for your calls anytime you have them. And uh, you can also call three Zho three Martino and leave a message and we will get back to you. But there is something very troubling going on that I warned you people about, and it's happening still. I don't know what the hell's being done. In fact, I think we should probably try to get someone Kachina, and you know, Deputy Doc might be able to do that while he's there. We should try to get someone from the Consumer Finance Protection Bereau on

one of their PR people. This thing about bank fraud is going on all over the country. It's too mind boggling. They're closing people's accounts for so called suspicious activity and then you don't get access to your money and they say we're investigating. We have people losing thousands and thousands of dollars all over and some of the biggest offenders Wells, Fargo, USAA, major banks just taking your money and saying it was because of fraud. We got more on that

and coming up. Go with a sure thing Denver's Best roofer Excel roofing dot com. You don't pay a cent until you're content. Time for an insurance checkup free, no obligation. In comparison, call Compass Insurance paying too much your coverage at dozens of insurance companies. Find out now three O three seven seven one help. You'll think you're his only customer when you choose Frank durand the real estate man dot com to list your home with Remax Alliance three all

three nine two zero sixteen twenty two. Yeah, ripped up new need advice. Who you don't have? Come running sustas as we can. Shooter's gonna help coming Man Dix is the Troubleshooter Show. Now Tom Martino, Hi, Tom Martino, your trouble Shooter three oh three seven one three talk three all three seven one three eight two five five, Welcome to the show. We

got a lot going on here. And uh I have a Joe Cano with us from uh my Moneymway dot com, a certified financial planner, and we were talking about in the first hour some of the things that cause financial ruin. Credit cards are the first thing to go wrong with young people. Credit cards, credit card deck. Now that's not to say I'm not going to go over the whole thing again. It's not to say you shouldn't use credit cards, but you should use them wisely. They're not meant to be extra

income. They're meant for emergencies or convenience, and when it's for convenience, you want to get something and then pay, you should limit that to something you can pay in thirty days to sixty and on the very outside six months for major purchases. Again, I also believe you should have a credit card for homer emergencies instead of home warranties. Home warranties suck. They absolutely positively suck. There is just no other way to put it. I can think

of no home warranty worth the paper it's written on. Now. The second way people get in trouble is with cars. It's the number two financial ruination tool in the devil's toolbox. Now, I'm saying that what people do is they make the wrong purchase for too much money about ninety percent of the time. Now, if they work their ass off and just pay it off, they might get out of it. The big problem is when people buy a car, whether new or used, and do not commit to keeping it or

destroy it, don't take care of it, don't maintain it. For whatever reason, they have to get rid of it and they're underwater. The negative equity in that car when you owe more than it is worth, will never go away unless you simply work and pay it off. You cannot. Ever, you should never get rid of a car with negative equity. Now the car blows up and is no good. That means you made a stupid purchase to begin with. But a negative equity. Okay, So let's say you're

upside down six thousand dollars. When you buy another car. That six thousand dollars goes on that car. That's going to multiply your negative equity in that car. Now, if you're stupid, and if you truly buy something that that that got you in trouble, the way to get out of it. One of the ways would be to get a load to no interest loan on a special incentive from a manufacturer, put the negative equity on a new car, and then work like hell to keep that car in perfect condition and pay

it off. Do not buy another car or trade that car until it is paid off. That's one of the few times you can really get ahead of negative equity. But the best thing is not to have the negative equity to begin with. Negative equity will kill you, and it just keeps growing. I give an example of a kid I knew who bought a car. He had to have a muscle car. He paid too much, ran the crap out of it, traded it because he did something to the engine. Had

eight thousand dollars in negative equity in his next car. That car turned out to be four thousand. He had twelve thousand going forward. So he had to buy a piece of crap so we could afford the payments to put that twelve thousand on it. So he bought a piece of crap. So now he had twelve and a piece of crap. Six He had an eighteen thousand dollars loan on a piece of crap that would not last the time he owed the money, and he had to declare bankruptcy from a car, credit card

and cars. So what do I recommend you do? I recommend the wise use of credit. As I said, and I'm going to give you two words that I swear to you are going to send shock waves. Shock waves. But it's something that we need to know, we need to know. It's something that we must come to grips with as young people. I'm saying as young people. I'm not young, but something that I came to grips with and it made me rich Yep, at a very young age. Do

you know why I came to grips with something? And it's something that you need to come to grips with, and it's going to scare the living hell out of you. Does anyone want to take a stab at what I'm going to say? Because it will, I swear to you, it will scare you. And here's what it is. Ready, you must sometimes times do without? No, no, no, no never. Yep, you have to sometimes do without. Do you know that is actually something that you should

consider doing without? How does that sound? Do you think anyone can do that? Joe Cannon My Money, Myway dot com. Joe, we talked about much of the dollar for tax much of the dollar for financing, because we've done stupid things and we've purchased things we shouldn't be purchased, or we finance things we can't afford, and we're up side down with financing and taxes, hardly have any for ourselves. So what's your recommendation? Come on,

you're a certified financial planner. If you were instructing a young person, what would you tell them? Yeah? Tom, you know, we actually we got the numbers, We got the percentages, for the dollar bill that you and I were talking about earlier, actually thirty six percent of each dollar goes to pay taxes. Thirty four point five percent of that dollar bill goes to banks for finance charges. So people today are left with only one third of

a dollar. And you know what most people do. They put this money at risk, the one third of the dollar that they have. Now, by the way, when you're talking about taxes, that's not to say everyone's in that tax bracket, but what you're talking about with taxes are all kinds of taxes. That is, okay, gotcha entertain human tax and all that. Right, So one third of that dollar bill that is left actually people put the money at risk and put it in the stock market, so when

the market goes down, they have nothing. And this is exactly what I've been talking to people about. And okay, on your point, on your point, Tom regarding what to do, you know is to get out of debt. And we have a program helped become the banker that you can actually. Now this is just for young people. You know. We talk a lot about taking money you've accumulated through your life in a retirement plan and rolling it over to a guaranteed product for income. But now let's talk about young

people. I want you to tell me what Jordan did your son? Yeah, Jordan, actually you know when it was sixteen years you know, I bet him up. I become the banker life insurance policy. I overfunded that policy, being that I paid more than the premium into the policy. It builds tax free cash value. And when he was sixteen years old, we were able to take a policy loan against the policy bake cash for that car.

It was the nineteen seventy nine Grand Cherchu Larredo, okay, and he got a job a subway and he began making money and I told him, Jordan, you're going to have to pay back the policy loan, just like you would at the first Bank of Littleton, which was back at that point. But he bought himself a car, right, Yeah, So in three years that car was paid off. He had the money and instead of paying the interest, instead of paying the interest to a bank, the interest went

into his account at the at the insurance and grew tax free exactly. And he did the same thing with a condo that he bought in Dringwood Village like fifteen years ago. He's renting that out now and he's doing the same thing with the swimming and here in Parker that he did about five years ago. So it is a tool for young people that want to be totally out of debt. We can actually show people how to get out of debt tom and nine years or less by using the principle of becoming their own bankers. See,

banks make a lot of money. They make now. By the way, if people think, well, I'll just have a savings account, you know, there's nothing wrong with a savings account, but this other way as well. A few bucks a month overfunding a life insurance policy. You have life insurance, but that's not the reason you do this, younger. You do this mainly for the tax deferred growth. Yeah the text deferred growth. And you know, having a savings account is okay, like you said,

but it's not the same. You See, when you borrow money from a life insurance policy, you don't borrow from your own money. You don't borrow it from your cash value of the policy. You're borrowing the money from the life insurance company. So that means that your cash value stays the same, right, And then they charge you an interest rate, a very small rate and then you charge yourself more than that on purpose, right, that is right, that's what we call overfunding the policy. And so it's not the

same as a savings account. It's better than a savings account. No, I understand that because for sure, because when you need cash you can take it out as a loan and then pay it back to yourself instead of becoming beholding to a credit card company or a bank, You're just doing it for yourself. It's such a wonderful tool. It is. So what happens if you miss a payment? You're the banker. You don't know what's make it up later? You can't. And also I want to say this, like

for my son coming up on eighteen. So and I know I'm an old fart for an eighteen year old, but here's what I want to ask you. Joe, the cost of insurance is cheap. Oh it is. The younger you are, the better. So this is a perfect time for somebody. What would you suggest for what would you suggest if I'm getting my first policy for my son, because I want to mimic what Jason did, oh, which is me what your son did? And Jordan, yeah, George, of course, of course. So what I meant was what amount what

face value to put on a policy for a young person? Yeah, you don't do a face value in those on the beginning, I mean a death benefit. What kind of death benefit is what I meant, not even a death benefit. What you're going to be concerned about is the money that you want to put into the policy. Oh, you should be asking what premium do I want to put in? So you know, it's up to you.

But the more premium that you put into the ball c the faster that the cash value will build and the sooner that your son will be able to tell. Yeah, but obviously here's what I mean, Joe. If here's what I mean by that the premium, Yes, but the life would be too. For example, if you want to put two hundred miles a month away, right, but then you had a high death death benefit, then it would be less cash value than if you had a lower death That is

right. That is right, tom. So we become the banker's strategy. We tried to minimize the death benefit. So you you start with how much do you want to save? Basically that is right, and then we'll figure the rest of it out. Yeah, okay, we'll think okay, all right, thank you very much. That's Joe Canno. We got more coming up. I want you to give me a call if you have any questions for him or for me, or any problems, questions and complaints of course

of any kind. Three zho three seven to one three eight two five five. And I want to tell you also about Denverregen dot com. Denver Regen, let me just tell you they have a new revolutionary hair restoration system they're doing with stem cells, better than stem cells. It's a mixture and its Denverregen dot com. Along with of course, they're doing the weight loss supplement. I say supplement. It's a drug Semaglue Tide at pennies on the dollar

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now three O three seven seven to one. Help. You'll think you're his only customer when you choose Frank durand the real estate man dot com to list your home with remax a lot three all three nine two zero sixteen twenty two. Hi Tom Martino, your troubleshooter three O three seven one three talk three oh three seven one three eight two five five. Welcome to the show.

Okay, let's uh talk about your problems, questions and complaints. And we have a financial discussion going on and what makes financial ruin or what starts it? And I definitely say it all boils down to financing, first with credit cards and then with cars and being upside down with cars. So as you approach, as you approach adulthood and have you kids, you have kids who are doing this. The biggest mistake people make, in my opinion, is

buying an old, used car for someone. I really mean that. Now, if you get a slightly used, truly good car, it could last someone. But the problem is they're getting to be so expensive that people make a mistake of buying used cars and spending too much for them, or they buy cars with one hundred and fifty thousand miles or more on them. I'm just going to tell you something, Okay, don't buy cars with over one hundred thousand miles. Just don't. I don't know how else to put it.

Don't. If you want to do your kit of favor, look for special finance deals on an entry level new car with a five or ten year warranty. Those small payments that you make on that car will more than be made up for, because if you buy an old used car with one hundred and fifty thousand miles, you will have major problems with it. It's not

a it's just not a question. You're going to now. In very very rare, rare, rare situations, you have people that take care of cars, and you might find a gem from a little old lady from Pasadena. That would be fine. If you can find a gem that was truly taken

care of, do it. But that rarely happens. So in the absence of thatw a brand new entry level vehicle with the good warranties and really good loan rates on newer cars they have at all, they do it right there, and they're incentivizing you to buy that, and you can really get ahead of the system, but you must keep it for the duration of the loan

or you will never get ahead. Ever, and for older people, you should look into leasing, but only only if you lease from an honest less or who does it in a way that you're not paying extra Because it's a lease, that's a whole different ballgame. See leasing, if only they did it right, would be very beneficial to people. But most leasing companies don't do it right. Because it's a lease and the payment is lower because you're

financing the depreciation. What they do is take advantage of that and then pack the car and make the payment higher. But they say, well, you're still saving money over a purchase. But it's just I can't even get into it right now. It's the most stupid way to lease a car. Let's talk to Al. Al, welcome to the show. What's going on? Yeah? Uh, you were talking about credit cards earlier, and I have a fair amount of credit debt due to various reasons, fighting court battles and

I'm unemployed. How much how much that are you in now? Just tell me how much debt credit cards? Probably forty five thousand and then I you know, I got a maybe a fifteen thousand dollars car loan, And tell me how much how much equity in your car? Oh it's yeah, it's probably twenty five or thirty thousand, that's not that's not my biggest concern. No, No, I know, I know. I'm just trying to get a picture here because I know you're going to ask some questions. So the

car is you owe how much on it? Fifteen? Yeah? About fifteen? And it's truly worth double that? Yes, okay, I'll pay down in that. I'm good. Uh, just just a tremendous amount of credit card debt, and I'm curious if there's do you own a home? Yes? And how much equity in your home? Oh? Five hundred thousand, But I can't access it because I don't have the credit rating to get a decent Wait a minute, you have five hundred thousand dollars in equity somewhere in

that range four hundred to five hundred, and you own it alone? Yes? Okay, wow, Okay, that takes you out of that takes you out of the bankruptcy thing. Okay, go ahead, right, I can't I can't go bankrupt. What is the rate? What is the rate on your loan? Home loan? Yeah? Two point seventy five? I think something like, God, are you in? Are you in good shape?

There? Keep going? So? Yeah, I'm just I'm The problem I have is all these credit cards you know there, their interest rates are just rising every year, and I every time I start making progress on it, something happens and I go back into, you know, not being able to pay. And I really want to pay them off. But the idea I'm looking at is how do I get the lowest interest rate for all my debt outside? Well, you just said you can't qualify because you have bad credit.

Do you have bad credit? Yeah? Because because I have too much credit, too or too much did I owe versus? You know? Well, how much you make a year? How much you make a year? Well, I was making one forty until March and then I got laid off. So now I'm doing small jobs, handyman type of work, and so I'm maybe making thirty in a year. What were you making before? What were you doing? What were you doing? Engineering? And you can't get

another engineering job. I'm having a real tough time right now finding one. And everything that I'm finding is usually out of state, and then they put them on hold. What I'm seeing is that I keep getting interviewed and then they they just cancel the whole They cancel the position so it's like, I'm going to tell you you're not alone in this, bro. You want to hear what I'm hearing. People are not very I don't know why. And again when I say I don't know why, I don't know the specifics.

I really don't. But people are becoming very hesitant right now about the future. And I don't know if it's because they fear Biden will be re elected or if they fear Trump will be elected. I don't know the reason. I really don't, but I find a lot of corporations right now are hesitant on hiring right right. They really are. You're the third person I heard where they started interviewing for a position then eliminated or said we're not going to

fill it right now. Yeah. Well, it's an election year, which is always tough to find, you know, higher profile jobs, but man it I think it's worse this year. I'm kind of engineering. Oh well, I've done mechanical, I've done instrument and controls, and I've been a project manager for over twenty years. So where was your last year? What corporation did you work for last Sergeant Lundy? Okay, Now, now I

want to know about your monthly payments on those How many credit cards? Well, there's primarily there's two that I have the majority of the debt on the third one I was keeping paid off, but that's not going to continue right now. So are you? What are your payments on those three credit cards? Oh? Add it up? Yeah, probably two thousand a month? Holy crap? And how and and and so at two thousand a month? How long will you be in debt on that forty five grand? That for?

Yeah, forever? Twenty years? Yeah? What is your fiico right now? It's not. It just dropped due to a late payment and it's down to six point thirty. It was at six eighty. But okay, hold on a second, And how how old are you? Fifty five? All right, hold on, I want to talk to a couple people here. Three oh three. You're a very interesting case and we should look into this. Hold on three oh three, seven, one, three, eight, two five five. Go with a sure thing Denver's best roofer Excel roofing

dot com. You don't pay a cent until you're content. Time for an insurance check up, free no obligation comparison call Compass insurance paying too much your coverage at dozens of insurance companies find out now three oh three seven seven to one. Help. You'll think you're his only customer when you choose Frank durand the real estate man dot com to list your home with Remax Alliance three oh three nine two zero sixteen twenty two. Hi Tom Artino, you're troubleshooter three

O three seven one three talks seven one three eight two five five. All right, I want to I got a crazy idea for Al. You bring up Al, I'm going to bring up Mark Massey. Mark, are you there? Yes, Sir, Mark Massey is in the reverse loan business. Now, before you go crazy, Al, just hear me out. I know you're not really a candidate for a reverse loan under normal circumstances, but you got a very weird situation. And again I might be barking up the

wrong tree. You're fifty five, you have five hundred thousand dollars in equity, but you have a six thirty FICO and you're struggling with credit card debt you want to get rid of. So this credit card debt is costing you a ton of money. And if you got rid of the credit card debt, your other debt would be manageable, right, yes, now, Mark

Massey, I have a crazy question. If you had somebody like Al with a six thirty FICO five hundred thousand dollars in equity and he's trying to get out of debt, all he wants is to get out of forty five thousand dollars worth of debt. If he got a reverse loan at fifty five. I know that fifty five there are special reverse loans you can get, and

he simply put enough money in there to pay off the credit cards. And that was one of the understandings that at closing he'd pay off these credit cards and then he literally kept the loan until he could refinance it, maybe until rates go down or whatever, or or keep it. I don't give a damn what he does. But what I'm saying is is that have you had people do reverse loans for a temporary measure to get out of debt and then go back to a conventional loan or keep it. Most people do keep it,

Tom but absolutely that makes sense because it'll pencil out. You know, if you're paying twenty five to thirty percent on your credit cards, you turn around and pay seven and a half on forty five thousand. That's a heck of a lot better, and it helps the situation with a six thirty five, anything kind of north of six hundred is going to be fine. On the reverse side, they you know, they get a little the problem. I see, there's a few things. I see that's a big problem.

His damn loan is only right now, just two point seven five percent. It's almost like free money for God's sakes. But I but but when you think about it, when you take his two point seventy five on that and you average it into his other debt, then you have a blended rate that's way higher. So so L and that's the right that's the right comparison point.

Tom, Like you're saying what you should do out here, I'm not recommending you rush into this, but what I'm what I'm saying is if you pencil it out and you can get a pretty decent rate, that will lower your overall blended rate, and you can get out of that debt and listen to this and not have a house payment until you want to refinance it, or you can make it. You can make your interest payments, you can

do whatever you want. But what I'm getting at is you would have breathing room here and you would be able to get rid of the high interest debt, preserve your credit, build your credit back, and I think you'd be an excellent candidate. But but you have to really put the pencil to it. And Mark Massey, I think he's honest enough. I don't think I know's he's not going to tell you to get it if it's not going to do you any good. It's called suitability, but it's something you may want

to consider, Okay, it's something you go ahead. My question would be like if you if I do a reverse loan on the house, then then I have a blended blended rate, right So no, no, no, no. What I'm saying is this is that you you have a blended rate. Now, so the only way to know what that is is you take your two point seventy five and add up to three other cards and divide it by four or yeah, or if you have three cards plus your loan and

you divide it by four and get your arithmetic. Mean, that's what you're paying, that's what you that's what your blended rate is. And if you can get close to that, even if you're paying a tiny bit more on that blended rate. Your payment will be manageable because you can make it your payment or not make it. But the greatest part of this is you're not going to miss any more payments. You're going to build credit. And then what you have to do after that is decide what to do after that.

Well, you can take a breather until you get a job, you can refinance it after that, whatever. But you it's it's a product that you can get without a lot of credit, and it will it will stop the bleeding, is what I'm saying. But I want to ask Mark Massy something straight up, Mark, what is the action cost of this? How much is he going to add? I mean, we know he's going to add

something because there's going to be some points or something. If you had to put a price on it, and let's face it, on a five hundred thousand dollars equity, he's not looking for you know, at fifty five, he's not looking for a lot of money. But if he did like one hundred grand, let's say, buffer one hundred grand line of credit, how much are we talking about in cost? So the cost that I could walk you through is going to be real close SAHA. This is not an FAHA

product. So if he doesn't have to pay the two percent of the appraised value of the home, so we're probably looking at about let's just call it three, let's call it, call it nine thousand dollars. Oh, correct, and we're going to be close with nine thousand dollars and nine thousand dollars. He didn't have to come out of pocket. That just rolls to the back of the loan, okay. But so his forty five turns into fifty

four basically is his but he does a way. Like I said, you got to do the math here, al and look at your long term plan. Man, you really do. I'm not suggesting it will work. I'm just giving a suggestion on what to do. Mark, give out your phone number right now. Sure, my number is. You can just call me direct seven one three two five six four six seven six. I'm here in Colorado, and I'd like to help you do the math and walk through the

different scenarios. And I do both reverse and forward. So if there's a better regular mortgage option, let's just look at it. It's going to be a math formula. You can kind of tell me what you want to do and maybe can you Can he get it right now? Can he get a second? But he can't get a second with that low rate? Could he with that low score? Yeah, the score starts to affect you on the front side. Even more so is his income. Give your number again?

You have to give your number again. Seven one, three, two five, six four six seven now hold on, okay, thank you very much. Mark, go with a sure thing Denver's Best roofer Excel Roofing dot com. You don't pay a cent until you're content. Time for an insurance checkup free, no obligation. In comparison, call Compass Insurance paying too much your coverage at dozens of insurance companies find out now three all three seven to seven

to one help. You'll think you're his only customer when you choose Frank durand the real estate Man dot com to list your home with Remax Alliance three oh three nine two zero sixteen twenty two. Hey Tom Martine here three three seven on three. I don't have a lot to Hannah. We will take you, I promise, but I need to go back to Al. Joe Canno, do you have any suggestions for Al? You heard a situation what do you think. You know, Tom, that's pretty uh you know, that's

pretty common really. You know. My suggestion would be, you know that maybe uh either get I mean try to get a refinance and pay a higher rate. But I mean i don't see anybody that, uh, you know, I'm not sure there's slender stuff could actually offer, you know, some some kind of refinancing treadom for him. Now, when you let me ask you something, Joe, when you talk about getting people out of debt, like like, how do you guys do it? I mean, he's he's

already pretty tapped out. So I'd like to talk about your plan where you have a plan to get people out of debt, and we can do that coming up after the break in general. But I'm gonna take Hannah after the break and then we'll go back to this because I like to know what that looks like. Now. He might be too far gone with what he's got going on right now, but I'd like to to tap your brain on it. I'm Tom Martinez three oh three seven, one three eight two five five

more coming right up. Go with a sure thing Denver's best roofer excel roofing dot Com. You don't a cent until you're contenthave time for an insurance check up free, no obligation. In comparison, call Compass Insurance. Pay too much your coverage at dozens of insurance companies. Find out now three oh three seven seven to one help. You'll think you're his only customer when you choose Frank durand the real estate Man dot com to list your home with Remax Alliance

three oh three nine two zero sixteen twenty two Ye ripped of news? Need that who you don't have? Come running as fast as you can. Show Shooter's gonna help. Come Man six is the Troubleshooter Show. Now Tom Martino, Hi, Tom Martino here, Welcome to the show. Three oh three seven one three talks seven one three eight two five five. I'm gonna go right to the phones and help you in any way I can. I just want to tell you that this hour brought to you by Frank Duran the real

Estateman dot com for free market analyzes of your home. An analysis of your home. He will do it. He will take your home and put it out there as far as the comps the neighborhood supplying demand interest rates and tell you what you can reasonably expect to get on the market, especially with him at the helm. And it's a great learning experience free of charge if you're even thinking about selling your house. Three ZHO three nine two zero sixteen twenty

two Frank Duran, the real Estateman dot com. All right, let's talk about your problems. Okay, I'm going to start with I believe Al. I want to finish up with AL and AL on your debt consolidation. Are you still there? Okay? I think that that is. You know, that's going to be an expensive option because you're adding nine grand in costs. Okay, I mean that's just the way it is. However, if you needed to keep that loan for a full year or two or as long as

you want, you don't have to worry about it. Well, again, it's going to accrue interest and it's going to also eat up equity, but you can also make payments on it if you want to maintain equity. But here's what I'm thinking, I would never suggest it under your circumstances. Normally, if you could get a home equity loan, so you might want to see you might want to see what a home equity loan would you know, with your low credit, if someone would do a higher rate and take more

risk with that, and then it might turn out to be cheaper. Let's

say someone would do that for you for lower points. Let's say somebody would do a second, a peer to peer lender would do a second on your home, and they would charge you instead of all that you know, nine grand, let's say three three or four thousand dollars or two thousand or what, and then a substantial rate even but but but what it would be even if they charge you eight percent, you still have your two point seventy five percent on your house, and then you get a small equity loan just to

pay off what you need to. You might want to go. I don't know how. I don't know anything about peer to peer lending al but I do know people do it. Okay, again, that is something you may want to look into. It's called peer to peer lending. I will check that out, and I know, I don't know. I could talk to my credit unions and see if they do that. I kind of yeah, they I don't think with your score, but you can talk to them. Nothing wrong with it. But but I wouldn't refin if I didn't have to

refly that first. I wouldn't. I don't want to refly. That's going to be a you know how much you are on that first probably about three hundred and sixty, So you're saying your house is worth over eight hundred. Yeah, Okay, listen out, just tread lightly. Call me with any advice you need. But at least you're starting to look for ways to get out of this mess. And you do, you do. I have to look for ways out of this mess. And I would try to get a

peer to peer second. That's probably my first option. Try to get a second and where they're not going to rob you. But then you're going to have to have a prospect for getting a job or doing something. You're not gonna you know, it's just going to kick the ball down down the street right now. But what you have to do is look for a longer term plan. Okay, let's go back to the phones. Now. It is Hannah's Hannah, go ahead, Hannah, what's happening? Hello, Hi,

Hannah, what's happening? Hi? Tom? So, my car was toad on the thirtieth of May by this Toad company down here in Colorado Springs. It was toad because they were painting the parking lot the next morning and my husband had parked there unknowing that is it in your apartment complex? Yeah it is, okay, And so were their notices put out and all that, because usually they do it the right way. Usually they do it the right way. So you're not contesting the reason, are you? No? No,

I'm not contesting why it was told? Okay, got it? So what are you contell? What are you calling about then? So it's a whole big thing. So they towed my car, not contesting why it was toad. I called I'd say an hour after it was toad it toad at seven thirty three in the morning. We called within the hour, maybe an hour and a half because I had to go to work that morning. The

car. They said that we could come pick the car up and pay two fifty to get it or three hundred for them to come drop it back off. So we went up there to get that's me, that's very that's very reasonable by today's standards. Yeah, that's reasonable. So I had no problem paying for the toe by the way, no problem. So we went up there, My mom and my husband went up there because I was at work to pick up the car. They get there, the car's not there.

Now this is by that time, two hours after it had been toed. The car's not there. So they sat around and waited and waited and waited with no answers. There were other cars coming that had been told from the same apartment car, Where was your car? That's what I'm saying, Where was my car? So? But get this, they didn't show up until or they didn't end up telling us until afternoon where the car was. So at around twelve thirty noon they come and say, my car's been in an

accident. What but yeah, yeah, but no, wait wait, wait, wait, Hannah, Hannah, Hannah. It was towed into this yard. How did it get into an accident? That's what I'm saying. So it was towed at seven thirty three in the morning. At noon they tell us it's been in at like twelve thirty almost one, they say, it's been in an accident, But the accident didn't happen until noon. So where were they with my car from seven thirty three in the morning until twelve o'clock

in the afternoon? But what kind of an accident? Tell me about the accident? Like like what do they mean? And was someone driving it? No, so the toe come, the toe driver got in the car accident with my car on his toe Okay, but they what was he driving around with it all morning? Yes, from seven point thirty three in the morning until noon that afternoon on a one car tow bed. So there's no reason why. I mean, I could understand if he was towing other cars,

but it's a one bed. It's a one car toe bed, so he couldn't have been towing anyone else. So how what happened to your truck to your car? So when the car when the tow truck rammed or hit the other car, my car flew backwards into the pole that holds the the toe rig thing. So it the back of my car wrapped around that pole. What are they going to do about it? They got insurance, so that's the thing. They won't give me their insurance. All right, this is

ridiculous. Hold on, Hold on, hold on, this is absolutely what's the name of the toe company. It's called toe Pros LLC, Colorado Springs And by the way, through the Better Business Bureau website, it says they have an F rating. They're not Better Business bureau accredited and they don't have licensing. Oh oh uh oh uh oh, they probably don't have insurance or anything. That's what I'm saying. So I called the apartment complex an apartment

complex man or the own whatever. The property manager, who I've never spoken to before, says that they do have insurance. He assures me they have insurance, but because of what happens, they want to pay for it out of pocket. Because they want to pay for it out of pocket, because how much damage do you have? Have you had it assessed? Yeah, So that's what I'm trying to get to. So the they say they want to pay for it out of pocket because they don't want their their insurance rape.

Okay, got it? How much damage? So they told it to an autobody shop. Thisll just tell me how much damage right now? Well, so there's it's. I think it was like twenty five hundred dollars for the damage to the back of the car. But because they won't give me their insurance information or anything, I mean, I'm thinking it probably should have been totaled out. Well, what year is your car? It's a twenty nineteen fourd escape. Okay, first of all, you shouldn't let them get

it estimated. You need to do it. Do you have insurance? Oh? Yeah? So but here's the thing though, they towed it to the autobody shop, and the autobody guy has it. So then they were calling me telling me they were going to give me a loaner car because this has already happened. This was May, May thirtieth that all this happened. So they said they want to give me a loaner car, they'll get the car

fixed and all this. So then they call back a couple hours later they now they don't want to because the loaner car that they were going to give me was I guess the owner of the toe company's car. Hey, Hannah, Hannah, listen, Hannah, these guys are just screwing you guys royally. Now hold on, I mean you need to do you have insurance? Yeah? I do have insurance. You need to send your insurance guy over

there to assess the adjuster to find out how much damage there is. And you need to put an acclaim with your insurance and let them fight their insurance. That's what you need to do. Yeah, but I'm I'm I'm already I'm already way screwed past that point. Well, what do you mean screwed? Did they take it apart and start fixing it? Yeah, they've already started fixing it. And and what hold on a second, and what kind

of repair job are they going to do? What if this toe company is good friends with the body shop and they're gonna screw you, Well, you can't let that happen. Send your insurance person over, or send an expert over that you know and trust. You can't let these people do it without checking. Are you listening, Hannah? Yeah? I am. I just you gotta let this. Hannah. You need an expert on your side. I don't care who it is. You need to hire someone to look at

that car. Now, here's the next thing. Okay, you say they started fixing it, what have you been doing for another car so far? So that's what they said. So they said that they'd get me a rental car, but they didn't, did they Or did they? Yes? Or no? Did you get a replacement car? They did give me a rental, but they would not put the rental under their like, they would not put it under their insurance. So they were cashapping me the money for the

rental car. So the rental car is under my name through they were sending me money through cash app for the PRIs. You are you know, Hannah, you handled this all wrong? So right now? Did they stop making payments on the rental? Yeah, they did over the weeks as of Friday. Why I so Friday came around. This is a thing. They said my car would be ready on Friday to pick up, so then they only had extended the rental through the fourteenth. So Friday came around. I called

the auto body shop. He says that he told them the car was ready at eleven am, and then they stopped contacting him after he told them the car was ready. So they're not going to pay for the car. Well, they already put a deposit to the guy because the guy said he wasn't going to do a work on it unless they paid him a deposit first. How much is owed on it? I think probably half of the three hundred. These guys sound like These guys sound like scumbags, Yeah they are.

So then I did some research over the weekend, like looking at reviews, and that's how I found out about the Better Business Bureau accreditation and stuff. I don't care about the Better Business Bureau. Okay that that's the last thing on my mind, because the Better Business Bureau is a is a dinosaur organization with no credibility whatsoever. They're just they're during ancient organization. Their credit,

their accreditation means absolutely nothing, absolutely nothing. Did you do any research on the auto body shop? Well? What about you know they took it there, not her, so what research would But they're I'm just curious if they have a good reputation that they do have a good reputation the auto body shop. I've talked to the guy who owns the auto body shop, he's the one working on the car. He's he's he does have a good reputation.

But what about the fact that it says that they're licensing is they don't? They have nothing? Well, what's the state doing about it? I don't know if the Department of Regulatory Agencies Dora. They haven't obtained licensing through them. Okay, you need to contact and put in a complaint, did you? Yeah, So that's the thing. When I tried calling Friday, they

weren't open. So I was planning on doing that today, putting in a complaint through them, because what I ended up doing Friday night was contacting the police. But at this point, because of the I guess agreement that I've had with them, they the police said it's the civil matter at this point, which I understand. I was expecting that it is. Listen, here's what we have to do. I need to put somebody on. This is Deputy Bow there, We've got Deputy jock In and we do have Deputy Bow

as well. Yeah, Deputy Bow. I want to because I think Doc said he was working on to already. Is that right? And I mean the the the reviews about this toe company are just outrageous. Like the Toner that's the owner, Tony. I guess he just screams racial slurs at people. He's gotten arrested at toe site before. He's They've done this to multiple cars, have caused damage and recked multiple cars, and then they just go no contact. Hannah. I just wait, I have a question. The

body shop said it's gonna be ready on Friday. What happened? Did you go to pick it up? So they wouldn't let me pick it up on Friday because they hadn't been paid for So he's telling me, but hold on, is it done right now? Hannah, is it done right? Now? It's done, It's done. Yes. So you know, I've been in contact with the terry as a while. We've been on the phone, and he's telling me that he contacted them this morning and that they said they

would call and pay him was a credit card. So I don't know, all right. I got to say, hold on, hold on, hold on, Deputy Bow, call these people, call these clowns. I want to assign it to Bow unless Bo is slammed. But I don't think he is right now. I'm not sure. I'm trying to keep track here, Okay. Three oh three seven one three eight two five five go with a sure thing Denver's best roofer Excel Roofing dot com. You don't pay a cent

until you're content. Time for an insurance checkup free, no obligation in comparison, call Compass Insurance Paying too much your coverage at dozens of insurance companies find out now three oh three seven to seven to one help. You'll think you're his only customer when you choose Frank durand the Real estate Man dot com. List your home with Remax Alliance three oh three nine two zero sixteen twenty two Hi, Tom Martino, you're a troubleshooter. Three all three seven to one

three talk three oh three seven one three eight two five five. Okay, So Butch, what's going on with you? Butch? Hey? But what's going on? Hey? Man? How you doing? By the way, what do you get up on a weekend? You have a good weekend? Father's Day celebration. I I was the father's day, first Father's Day for me. Oh that's very cool. That's howlds your holds your baby? Then less than a year obviously, right, three months? Almost a three months

and he is a very very smart somebody. Oh he's even smarter than daddy already. I say, come on, that's a little too much. So what's going on? Man? So I was wondering, I'm going on the internet a lot on there. Yeah, yeah, and I'll be looking at for a for a product. What are you looking at? A mousepad? Mousepad? I want to get a mousepad. I don't know what's the best mousepad. Which one is the best mousepad? How do a mousepad? And you click a mousepad? Yes, sir, I say take a gamble?

Shit, okay, well I don't gamble, sir. I'd like to be very serious about what are they? Fifteen dollars? If that? How much are they? One of them has cost three hundred a mousepad. Yeah, it's got a special tracking technology. And come on, man, come on, okay, give your entire desk with led a mousepad for goodness sake. I mean I thought you're talking about just like a little rubber eyed mousepad. Well I could be. And what's the other guy off of cam? He

said? The interesting thing? Oh, the whole desk. There's a very big one as well that you can put a whole your whole desk is a mousepad that costs a lot more than twelve dollars. Now the mouse pads. I just went on Amazon and I put mousepad down. They got one with a risk guard for eight bucks. They got nine dollars. They have a seven sixty five. I mean, I don't know what the hell you're looking. I don't tracking technology? Does that have tracking technology? Well? Hold

on, what kind of mouse do you have? Optical? Or is it? Is it the little ball on the bottom? Oh can you imagine? It's a no? No, what kind of mouse do you play this? Gamer? Bro? What kind of mouse do you have? I have an optical mouse. They don't even make the role. Oh okay, good, I didn't know that. Okay, right, optic, So now you have Yeah, are you a serious gamer? Good question, Greg, great question. Yes, I'm a very serious gamer. And the book big game I

play is Lazier Suit Larry. Now I'm looking at advanced technology here, but come on, truly, what is some of your fellow game serious? Is what kind of machine you're running for? Leisure shut, Larry, leisure shut Larry. Well, I got a Penteum three that I'm running an original version of leisure Suit Larry, the original one from a Then I wouldn't worry too much about a mouse pad. It's not going to up your game, bro. Come on. But my big question is when you go to one of

these sites, how do you know this is a serious question? How do you? Okay? God? Because they have all these sights and they say go ahead, oh this is the best one. They have them all listed out, but they seem like ads a lot of them. Is there like a real place for consumer, like an actual site that is good? I like this. Okay, here's what I do seriously, on a serious note, here's what I do on Amazon. If you go to the reviews. You're gonna get some honest reviews. You really are, okay, so Amazon

reviews is good. What I do is, for example, let me see what's the name of the one you're looking at, the witch, the mouthpad, the one that was really expensive just for the heck of it. I want to see what the reviews are. Go ahead, Oh, I have to pull it up. Now, let me pull it up the moment, Yeah, pull it because here's what I do. Now, Now a dragon, have you done that? Have you gone on and looked at the actual

people's purchased it, or they have questions, you know? And I try to stay away from the guys that all all five stars, all one stars. Try and find the medium guys, because then those are the ones are a little bit more honest about everything that's right, that's true, or beware of if they're all five stars, you get a few one or two, I don't care. But if you get a bunch of bad ones and then all of a sudden a few good ones, that's a really bad algorithm right

there. But I just want to know because I go on here and you have all kinds of ratings, but you really read them, and you can see, they're not all they're they're pretty genuine. I mean, you can actually see it. If so, you get enough people responding and talking about your, uh the product, you're gonna get some honesty there. You really will, so I appreciate it. Tom. Do you have the name?

Do you have the name of yours? I'm just curious right now. The expensive one this one here that I'm looking at as a charging one though, it's the Alti Ultra Fast wireless charging desk. It's a full moustpad covers the whole desk, charges up products as well. Oh okay, that's okay, that's a whole different ballgame. Okay, okay, but listen, if you go, even if you don't buy on Amazon. By the way, if you don't go the Amazon, yeah I don't, Well, okay, but

you can. But it's still a great place to go for the reviews. I'm looking on here though, I can't find anything expensive on any of these. I mean, I'm luxury mousepad. It's a black leather two and call Lee. You know, there's a whole bunch of people that don't even use mousepads. They just go straight on top of the desk and it works. No I would never do that. Desk. Tell me you're telling me people hitting a raw dog. Yep, thanks for that call, all right,

man, thank you. Yeah, you tell them they're hitting it raw dog. Come on, you hitting a raw dog. Got three mouse four mouses right in front of me, and none of them have a mousepad. Tom is fine for us. You know, I'm an atheist. I'm gonna say a prayer for his son because I think he's gonna need it. Yeah, okay. By the way, I don't know why he had to make that plane to everybody he meets in the world, but people just deal with it. What you want. I'm Tom Martine. We have more coming up.

Go with a sure thing Denver's Best roof for Excel Roofing dot com. You don't pay a cent until you're content. Time for an insurance checkup free no obligation comparison call Compass Insurance paying too much your coverage at dozens of insurance companies find out now three all three seven seven to one help. You'll think you're his only customer when you choose Frank durand the Real estate Man dot com to list your home with Remax Alliance three all three nine two zero sixteen twenty two.

Hi Tom Martino, you're troubleshooter one texture at five seven seven three nine wants to know why Tesla drivers get away with no front license. First, of all, front license plates are raising our carbon footprint. We don't need to make extra plates. All you need is a rare license plate. So if you're of the Church of Climate change, then you need to urge states to go with one. License plates. Just don't look right with a front plate. All right, Leo, what's going on? Hi Leo? Oh?

Wow, my? A few years ago, my daughter's driving her nineteen eighty nine Shivvy suv ye. Okay, well intin. She just got off the streetway. Did you say an eighty nine? Did you say a nineteen eighty nine? Yes? Okay, go ahead? A few years ago? How many years ago? Okay? Gotcha, sir, gotcha? Okay, yeah, and a parking lot. She backed up a couple of feet and the left front top wheel assembly fell, came off and laid down on the pavement. I don't know how many miles were on it then, how many

miles on it? Oh? I don't know. But that doesn't happen to any car. But the Shivvy. The mechanic says the upper A arm. And then we got that replaced, and she got a nineteen ninety nine uh vy and that started shaking got very loose, Sam Willa. Shaking has pulled over. And so you're calling now you're calling about a different one. Right, you're not calling about the eighty nine. What do you what are you calling about today? The ninety eight or what year is it' It was the

ninety nine. I'm talking about General Motors since nineteen sixties. I've got two other cars the same way has had this problem for the upper A arm. And what when you say the upper When you say the upper A arm, what are you actually referring to? What part? I've not heard it called the upper A arm. I haven't either, But it's what the hill assembly fastens onto. Okay, you build the junkyard. Look in the chivy section.

Do you see those front wheels over the forty five good angle? I counted twenty three of them as pick you apart, no forge, no dodgers, nobody's jail. Oh, I get it. So you're saying that General Motors has and it actually, by the way, it actually is called an upper a arm. It's a control arm, and I looked it up, and so they actually do call it that. I just never heard it anyway. So you're saying that General Motors has a problem, a known problem or

is it something they're not talking about. Well, it's something they're not talking about. But I had a nineteen sixty seven Chivy did that, So they've had this for forty years. Okay, but how about this, let's get into this century, because you haven't talked about a twenty twenty or newer. Is what about now? Do they problems now? Well? I don't care about now. I'm talking That day came within about two minutes of killing my daughter. She is on the freeway just before that happened. Yeah, but

there's so many variables like how was it taken care of? How many miles on it? There's so many things, and and if they've had a problem, I can't find it. Go to your local, pick your part, go to the Chevy section. Okay. I want to call Kevin hold on a second to put him on hold. I want to get Kevin call kin on or and also jeffik either one of them one or both. I really do want to ask him about this, the upper arm. He's saying it's

a known problem. Okay, I want to say, because I am looking here and it says here they have experienced some issues with up for control arms in old, older models. Okay, up until nineteen ninety eight. My god, I mean, I don't know. We'll we'll ask our people. Are you really really three thirty years old? To be perfect? I'm confused. I see. That's what I don't understand why he would even bitch about that. It's thirty plus years old. Mickey, hang on, We'll be

right back, Mickey, hang on. Go with a sure thing Denver's best roofer Excel Roofing dot com. You don't pay a cent until you're content. Time for an insurance check up free, no obligation. In comparison, call Compass Insurance paying too much your coverage at dozens of insurance companies find out now

three oh three seven seven to one help. You'll think you're his only customer when you choose Frank durand the real estate Man dot com to listen your home with Remax Alliance three oh three nine two zero sixteen twenty two hin Tom Martino here. Kevin Calkins shared an autotech. Have you ever heard of General motors in the eighties and nineties having problems with the upper A arms in their suspension? Not chronically? No, Okay. I looked it up too, and

they said they had a few issues with in the early nineteen nineties. But Leo said, they have a problem. But Leo, it doesn't seem to extend into any vehicles two thousand and up. So we're talking about twenty four years ago. This problem was overcome, Leo, necessarily. Well, what do you mean, I mean, I got a guy on here does all kinds of work. Do you see any major problems, Kevin, with any of the control arms in the in the front of you know, sort of

just sort of just worn out parts. I don't say, any chronic issues, No, Cleo, Well you have to do the junk yard. Check out the shivvies only and what years? What years, Leo, I don't know the US. There are some cars that are not happening in the year two thousand and above, and it doesn't matter. There's other brands of cars

no matter how old they are, they don't come apart. Okay, So anyway, what is the point though, Leo, Leo, what is the point, if you are correct, what is the point that we have established that General Motors has a problem with upper A arms in vehicles up to year nineteen ninety nine? What is the point It goes a way to bewond Okay, the point is that they've had that since nineteen sixties. But they're not going to fix it now. Those cars are being those cars. They're not

going to redesign a damn thing. They're they're all out there. Man, they're old cars. So is my old sixty six forward. Okay, So what can you do to change it? They can't go back in time and change it. Leo, what you're even if what you're saying is true, there's no solution. Do you expect them to have a recall on nineteen ninety cars. I'm not talking about recall. I didn't mention that. Okay, what are then? Here's what I want to know. I'm sorry, Leo,

I'm sorry. I don't understand the reason for the call. Let's say you're correct, and let's say there has been a chronic problem and still is on cars up to let's say year two thousand. What should they do about it? They came within two minutes of killing my daughter all over, Leo, I'm asking you a question. Leo, you're not answering the question. If what you're saying is correct, what should they do? Really, I'm asking, I really am asking, Leo. It took care. You can't

change the truth, you but I'm Leo. Let's say you're telling the truth. What can be done? General Motors talk to me about Nerdy taking my life, the life of my droughter. Okay, first of all, what could have happened didn't happen. Okay, I'm sorry, and I'm glad it didn't. There is absolutely no point to that call. I'm sorry. Tell me what you want? What do you want? We have more coming up. Go with a sure thing Denver's best roofer Excel Roofing dot com. You

don't pay a cent until you're content. Three leave time for an insurance check up free no obligation comparison call Compass Insurance paying too much your coverage at dozens of insurance companies find out now three all three seven seven one help. You'll think you're his only customer when you choose Frank durand the real estate Man dot com to list your home with Remax Alliance three all three nine two zero sixteen twenty two. Yeah, ripped, you need ADVI so you don't have come

run anxious. As fast as we can show Shooter's gonna help come. Man six is the Troubleshooter Show. No Tom Martino, Hi Tom Martino, your troubleshooter three all three seven one three talk seven one three eight two five five. Welcome to the show. I want to tell you, and we'll talk to him in just a minute. Please mark your calendars for Thursday evening.

That's the twentieth six point thirty at the Sheridan DTC. We're going to have a seminar there my moneymway dot com about financial things, especially going on into older age. We'll talk about all kinds of stuff coming up all right, like, for example, the main thing safe and secure retirement. We'll talk about investing, we'll talk about Medicare, social security, also reverse loans and

the like. And we'll talk to Jordan in a minute. I want to go to Micky, who's been waiting, and of course anybody with any calls on anything. Three oh three seven to one to three talk three oh three seven one three eight two five to five Mickey, go ahead, Hi Tom can you hear me? Hey, what's going on? Okay? I've got

a social Security slash PRARA retirement question. My wife is krok okay on social Security, has been for ten years, and she's also a Puro employee or a chip cool public school employee who is just retired, and she could take a Peyerra retirement. Also, if she does right, takes a two thirds hit on her social security right. Okay, if she doesn't take Peerra, what happens? Could you just let that pieri sit there and not take that

hit? You know what? I've never even thought of that because normally it benefits you to take the PARA and the hit. So the question would be why would you not? There is what's called the windfall. There's called the windfall elimination of provision. Okay. That means that para who also receives Social security, right, they do some kind of formula yes, and the maximum monthly reduction. However, is now you what they do is you get a

maximum reduction from your para. It's not I don't think it's your social security that takes a hit. I think it's your para. It's the social security that takes the hit. All right, Okay, that's not what I'm reading. Are you sure of that? Because I mean it says, wait, oh, hold on, your parent benefit will not be reduced due to social Security. I'm sorry. However, there are some provisions depending on how much you make. It says this applies to PARA retirees who also receives Social Security

earned benefit. It says, the windfall provision reduces You're right, your social Security benefit based on a formula, and in twenty twenty three, the maximum the maximum reduction of your Social Security is five hundred and fifty seven dollars or one half of PARA. Well, if she's according to Social Security who I talked to, they told us that she would take a sixty six percent, yet two thirds offer social security. Yeah, but how much does that in

dollars offer social offer social that? Yeah? I'm asking what, I'm asking what the what does the what? What does the math add up to? Does she actually get less doing the PARA and the Social Security? She gets the same amount, but she loses two thirds to offer for social Security. I understand. But when they add them both together, it's essentially the same

benefit. It's essentially the same benefit. Yes, that's weird. Why would they take I don't understand why if you paid into Social Security they would ding you like that. Yeah, we're talking about the government here, I know. Oh, let's see. There's another hitchy in here also that currently, if I die and she's not on PARA, she can replace her Social Security with mine. Okay. The way now, the way that work. Okay, it's called survivor's benefits, and it's kind of like that. It's kind

of like that. What they do is they take they take the survivor benefit or her, and she'll get whatever's more right, and mine is twice what hers is, so she'll get more with you. But no, no, she won't get your whole benefit. She's not going to get one percent of your benefit. Oh, according to Social Security, she does afore you talk to them. My god, I can't believe. Okay. First of all,

let me just answer this one question. According to the Parrot website, you do not have to take PARA okay, Okay, you can remain on Social Security. They can't force you to take it, and they can't reduce your Social Security okay, And there's no penalty or anything else because you didn't take it. No, there's none, none that I can It says here that parasocial security have their own eligibility criteria. As long as you are are fully invested in one, you don't have to take the other. Okay,

and then the other thing is now what I'm very interested though. Survivor benefits have always befuddled me. And you're saying that Social Security told you that you could take that she gets all of your benefit when you die, Yes, as long as she's on social Security and not parap. Yeah, but your and your wife is on her own social security correct, Okay, Okay,

we know what. I'm going to find that out. I'm going to the Social Security website because this is something I go over and over, and I was told you don't get one hundred percent of your spouse's social there's a formula. Yours goes up a little, but it's not it doesn't equal the whole thing. But but I'll find out. But that's not what that was told face to face. In addition to that, if I die and she gets my social Security and she's also on PARA, she takes a hit on my

social security, she won't get all of my social security. She takes that same two thor as hit. Okay, if your benefit is higher, she can switch to the higher survivor benefit. Now listen, the survivor benefit is generally again you're right, generally equal to the full benefit you're receiving at the time of your death. If your wife starts receiving survivor benefits at full return

age, the benefit will be reduced. Okay, So like so in other words, you it depends if she was taking your benefit or not your benefit. But it says here if your wife starts receiving survivor benefits before her full retirement age, so apparently she's allowed to take it. But if she waits to her full retirement age, she will get one hundred percent of your benefit. Does that make sense? Yes? And she said, okay, we'll beyond that. And if she does take your benefit along with PARA, it

will be reduced with a formula. Again, I don't know the exact formula, but in other words, they're never going to let you totally add them up right, And I think the formula comes out kind of to you having the same benefit. I don't even know why they do it, I swear to you. The way it looks here, the math The way the math seems to be working out is that they reduce it, so you end up getting the same amount, but you get it from two sources. How stupid

is that? Exactly? Man? You're losing that amount on your Social Security that you have worked for and put in for all your life. That's what it sounds like. Mike's got a comment. Go ahead, Mike. What's your comment? Mike? I thought Mike said he had a comment on Mickey's situation. Mike is there? Mike still there? And now are you there? Yes, Mike, I'm here, Go ahead, sir. Yes, what he's referring to. I was a thirty year PARA employee inside business that

I paid Social Security into. So when I retired from my parent job, I had four options. I could take all the cash out I put into pair of I could take the benefit pair at one, and when I died it went away. The other option is I could take a reduced benefit. When I passed, my spouse got half of that, and the other benefit was if I took PARA at another reduced rate. I passed, my wife continued to get that same PARA amount until her death. But unfortunately the Social

Security has what's called a windfall program. And right, so I paid in to Medicare and Medicaid, but I never paid in to Social Security through my para job. So my social Security was supposed to be eleven hundred dollars a month. When they factored my Paara retirement monthly account, that went down to three hundred and fifty and that money I will never get back that additional pair or additional social security. Wow, that's bad. Or to go to the

Social Security website and look up the windfall program. That's how they explain that. Okay, So does that make sense to you, Mickey? Yes, yeah, I knew all of that. My real all way question was if she doesn't take her PARA retirement, will social Security thing her for that in some way, shape or form if you contact If you contact Para, Parah will hold that money for her. It will continue to accrue interest and then she can take that out of a lump sum later. But I don't know

how that will affect social Security now. But Para's pretty good about speaking to that very question. My wife was in that situation. She had a part time job at the library, left the money in there, and she can take that out and can now, if you did not tell me this, if you did not do a working enough like for Social Security and only worked as a teacher, then you don't become You don't you don't become eligible at all for social right. You just have to depend on PARA. That is

correct. That is correct, and PARA does give you a break. Since I'm now retired and I have to pay for Medicare, I can continue on with the para insurance with the Medicare, or what I do now is I'm on a supplement which is not the Paracare, and my Social Security goes to pay that one hundred and fifty dollars a month or whatever. Okay, cool, Thank you for the information we got. We got more coming up on the Troubleshooter Show. Three oh three seven one, three eight, two five

five Go with a sure thing Denver's Best Roofer Excel roofing dot com. You don't pay a cent until you're content. Time for an insurance check up, free obligation comparison call Compass Insurance paying too much your coverage at dozens of insurance companies find out now three all three seven seven to one help You'll think you're his only customer when you choose Frank durand the real estate Man dot com to list your home with Remax Alliance three all three nine two zero sixteen twenty two.

All right, I want to talk to Jordan Cano, part of the My Moneymway dot com group. We're having the seminar Thursday night. Jordan, what can people expect and why should they make an appointment? Who should make an appointment? And again, there's nothing to buy, nothing to pay for. Everything is no obligation. Talk about that, Jordan, You got it. Yeah, we're gonna be having experts not only in the financial arena, which is not building just tax free money and earning guarantees, but we have

people to do with tax benefits. So we have a CPA, not only our personal CPA, but he helps our clients and they to help answer questions. We have a mortgage specialist, and of course social security, some of those topics you guys were just talking about a few minutes ago, and I just want to add one piece. You were talking about para R and D kind of thing. Keep in mind this is where the tax advisors are gonna

best in. But most para accounts SUFFICIH in Florida, there are typically r and gs that they have to take almost like a four to one k. So for that, gentleman, when you talk about so security and para accounts, at some point you can't just differ forever. Okay, Now talk about some of the things you'll be learning tomorrow or will be learning. Well, yeah, and it's going to be going on having information for not only getting

out of debt. I mean we tell people not only you can just pay off your mortgages, and also credit cards that we've been seeing people rack up lately, it's going to be showing people how to use it with their money and keep earning interests instead of giving away those banks or credit card companies. That's just become the banker concept. And then of course the guaranteed pension account. This one tom it's earning money, protecting your money, learning market crashes.

But the best part is you have guaranteed floors that lock your cash in every year so that you can't go backwards. That is. Explain explain how that works in real life? Yeah, real life I always equated to a stairway. You know, when you have money is going to go up. When the market's up, and you get to earn the participation of whatever the market grows to. But the best part is when it comes down with these

accounts, it's stays level. It's it's like a stairway and go up sideways, up sideways, so your account will increase and anytimes market drops, the lowest you can hit is zero percent. You can't go negative and you won't go backwards. And then how does that then turn into income? Like can you do you set the date when you open it or do you decide as you're going on? In other words, what if I set a date and it's farther out than I want it? Can you alter that date? You

can? You can, indeed, And that's a great question. This is what life's about. We're not you know, we can plan for five years out, ten years up, but in reality it changes every year for everybody. Right. So the point is is with these accounts, they are fluid. You can choose when it's with that income on, you can choose to if you need to take more. When you have that income on, you

have the ability to take extra cash out if you need to. And so these are the way to have those pension accounts like the good old day pensions. But with more flexibility, more growth, and more protection. Okay, so one of the things you guys talk about from time to time are reverse loans. Okay, now, how have you seen people using reverse loans? You know, I think they have a definite place for certain situations. When do you guys recommend them? You know, I used to be pretty kind

of didn't think they were the best benefit for that. It's changed our mind completely. My mind changed. And you're right, because we have our mortage

special ruth that will be there. But it makes sense a lot of times, I'll say, when you don't have enough money, if you just have some security in your entirement, if you're widowed and you're not receiving the same benefits you thought you were before because the spouse passed away, maybe the pension wasn't paying out like one hundred percent like you guy were talking about earlier,

so nothing got to the widow. Well, this is right. Reverse mortgage, I would say, would make sense because you can then be able to remain in that location, your spouse can remain in that location, whoever it is, and not have to worry about paying that mortgage payment if they didn't pay the house off. That's one way, and just another way would just be able to have the ability to still participate in getting some cash out.

A lot of times you still can get money and live there. And if the mortgage values continue to go up, I've been told you can all these refinance and get more out. So those reverse mortgages have places. But you're right, it's time and place for certain people. It just depends on the situation. Okay, again, this is going to be Thursday evening and all people have to do is bring themselves right. There's nothing to pay, nothing

to do, you got it, nothing to be anyhing to new. You've been there before, we've had standing room only, and you've been in as events. It gets exciting when people start asking questions because everybody gets to talk and we get to have the experts like ourselves and the CPA and mortgage help

answer these questions for anybody free of charge. All right, and again all they have to do is call first or go to my moneymway dot com three oh three seven seven nine sixty six hundred seven seven nine sixty six hundred. I appreciate that. Now we'll be back to Jordan, Deputy BO. I want to bring I want to bring this thing pissed me off earlier. Yes,

it was a car was towed. Now, okay, so the car's towed, but we find out it was towed by a company called Tow Pros and they don't have a license to be in business, according to this woman Hannah. And also they did damage to her car and then sent it to a body shop, and now they're ghosting the body shop and they're not paying for her rental. I mean, this sounds like a pretty bad damn company. What's going on with toe Pros? Did you get a hold of them?

Yes, on a service. That does sound bad, especially if they don't have the license. But the bottom line is the take care of Hannah. So I did call over there, talk to a person named Kelly at toe Pros, told him the situation who I was, and she said she'd get the owner's wife, Melanie, to call over to the body shop and make a credit card payment so Hannah could get the car. So I waited

to the next segment and called the body shop, Terry's Auto Body. Talked to the owner there and they did pay the man they tendered over a credit card. And I called Hannah and she's on her way to pick up up the car right now, So, bro, that is wonderful. Hold on, you know what you get right? Okay? Oh no bell, No, we don't call that. He don't call that a bell. You get my dinger? Man, Come on, Tom whipped out his dinger for you. There, yeah, there it goes again. That means I get to

come back later in the week. Yes, you do, and we're gonna double your pay as a volunteer. As an unpaid volunteer, you get double. And by the way, I have another one too that'll take us to break. It's the same dinger, but it has some special for you. There. Oh yeah, thank you. That was an easy one. More coming up. Go with a sure thing Denver's best roofer Excel Roofing dot com. You don't pay a cent until you're content. Time for an insurance check

up. No obligation in comparison, call Compass Insurance paying too much your coverage at dozens of insurance companies find out now three all three seven seven to one help. You'll think you're his only customer when you choose Frank durand the Real estate Man dot com to list your home with Remax Alliance three all three nine two zero sixteen twenty two. Hi Tom Martino, you're troubleshooter. Three oh three seven one three talk three all three seven one three eight two five five.

Okay, I want to go to the phones, and I have a Mike. Mike, what's going on? So I have a rental house right now and the tenant in it is my daughter and they want to buy the house, and I'm wondering about doing an owner financing and what's involved with that and if it makes sense or what now? Is the house paid for? No, then you can't do an owner finance. Well, okay, so have to be paid off first? Right? Well? Yeah, if you if you want to finance a house and you don't own it, you can't

have you can't sell it while you have it loan on it. You would it's against every loan I know if you if you let that house out of your possession, so it's truly could trigger a do on sale clause, and it's not a good idea. It's very dangerous practice. Now what you could do is also dangerous, but it's your daughter. You could co sign the loan and then just let her buy it from you. What do you mean by co sign the loan co signer onto my Well, first of all,

why are you doing an owner finance? Can she qualify for a loan on her own? Yes? Okay, Then why would you suggest doing an owner finance. I don't understand that. If she can borrow money on her own, why would you do an owner finance? What would be the benefit to either of you? I don't want another rental, and I don't want the tax consequences. Well, hold on a second, you're still going to get tax consequences even if you finance it. They don't let you put off the

taxes. Huh okay, yeah, Then I know you're thinking about an installment sale. First of all, you can't do an installment sale. And they took the tax benefits out of installment sales long ago. There's no way to trick the government when you don't want another rental. I get it, you want to sell it. But when you sell it, you're going to have some gains. And because it's a rental, have you been depreciating it? No? More bad news? How long have you owned it? Twenty years?

Okay? Let me tell you some day. Let me tell you the real problem you have. Okay, the real serious problem that you have at this point. You bought the house for how much I don't remember. I think there's about one hundred thousand left on the loan. Well, okay, for okay, let me explain something to you. For every year you did not depreciate that house, and for the life of me, I don't know

why you did not do that. If it was a rental moment initially you or what keeping it as a second home, Well, when did it convert to a rental? Never did because it's my daughter that's in there. Okay, So it was never officially an income property. It's a secondary home, is that right? Okay? If it wasn't held for investment, you're going to escape this. But let me tell you, under normal circumstances what this means. If it was a rental, you would have been obligated to depreciate

it each year. Now there are different depreciation schedules, but if you did not depreciate it, a lot of people feel, oh, I'm not going to depreciate it, so I don't lower my basis. The government will force you to depreciate it even if you never took that depreciation, and you'll have a higher gain when you sell it, no matter what, no matter what. If you had it for twenty years, your basis would be zero in that house approximately right now, which means every dime you make is long term

capital gain. Okay, that is if it was a rental. If it's not a rental and your daughters, has your daughter been living in their free No? Has she been paying you rent she's been helping pay the mortgage. Have you been declaring it as income. That's a good question. Have you ever written any kind of expenses off on that house as a rental? No? Okay, here's what I'm gonna tell you. It would be best if it was just a second home. Then they're not going to force you to

depreciate it. Okay, you're not gonna have to depreciate it, but you're gonna have to realize every penny above what you bought that house for. And now you're allowed to add to that basis. If you did any permanent improvements, you can add to that basis. Okay, and then and then that will be your basis. So let's say, do you have any idea what

the purchase price was back then? Any idea at all about one hundred and sixty Let's say one hundred and sixty thousand, and let's say over the years you put forty into it, okay, in not in interest or not in minor stuff. I'm talking about in capital improvements. If you did, just to make numbers easy, your basis would be two hundred thousand, What will it sell for for forty four forty? Okay? Now were you hoping?

Because then what you're gonna have is two forty minus any commissions or expenses you're gonna have. That's gonna be ordinary enuctions, not ordinary. That's gonna be long term capital gain. What's your income other than that capital gain? What's your income retired? Okay? So you're gonna have some capital gains to pay. Okay, you're gonna have capital gains tax to pay. And the worst case scenario, the worst case is going to be twenty five percent. That's

statement and federal. Okay. So if you make two hundred, let's say, or two forty, then do the math. You're going to have to pay the rest of that to the government. There's no there's no way around it. There's just I mean, you can try, but there's no way around it. So if you sold it for if you sold it for two forty You're going to subtract excuse me, not two forty whatever you're going to

make, Let's say two forty in your in your gain. If you make two forty in your gain, you're going to have about sixty thousand to paying taxes. Ohly crap. And you're not going to get it. I mean, I know people think they can get it right with it, but you're not. You're not going to get out of it. Okay. You know you can do a ten thirty one into another rental, but you don't want

another income. Now, let me ask you something. What were you going to Were you hoping to get money or to just help your daughter with a house? What do you mean? Well, when you sell it to her, did you want to make money? Were you going to do something with the money? Were you selling it to her when you I want to sell it to her. Were you going to sell it to her for market value? Not quite? I mean, I'm gonna give her, you know, a discount on it. Okay, So you did want money, here's what

Let me let me get right to the reason I'm asking. If you did not want to get money out of it, and you simply want to help your daughter. You could gift her the house, then there would be no taxes to either of you. But you can't gift her the house. If you want to get money out of it, you need to sell it to her, and she needs to go and get a loan. But there's no benefit for you carrying the paper. It's not going to save you on taxes,

all right. So, so I know you're going to have people tell you otherwise, and you're gonna get in trouble if you listen to them. Okay, So I'm telling you the real way to do this is to sell it, have her get her own loan, and pay your taxes. That's the true way to do it. I mean, you know, other than that, at it's going to be hocus pocus and that's not what you want. Uh three O three seven to one three talk. We got more coming up. Go with a sure thing Denver's Best Roofer Excel roofing dot com.

You don't pay a cent until you're content. Time for an insurance checkup free, no obligation. In comparison, call Compass Insurance. Pay too much your coverage at dozens of insurance companies find out now three oh three seven to seven to one. Help. You'll think you're his only customer when you choose Frank durand the real estate man dot Com to list your home with Remax Alliance three oh three nine two zero sixteen twenty two. All right, I don't want

to hesitate here. Let's go to Frank. Frank. What's going on, sir? Hello Frank? Say Tom, you've mentioned the Colorado Motor Repair Act. Yeah, the Auto Repair Act, right, Yeah, to give estimates, get consent from the customer to make Yeah. What it says is this, basically, if you drop your car off. First of all, if it's after hours, they don't have to do it by writing. They can call you, but they can charge you up to one hundred and twenty five

bucks. If it's going to be beyond that, they have to get your consent. And if you drop your car off like during normal business hours, the estimate has to be in writing, and any changes that will be more than twenty I believe ten percent more or more than that, they have to get your approval. Okay, Tom. The Act permits customers to waive the right to receive an estimate. I don't know if they do. I don't actually I don't know that. I mean, maybe it does. I think

it's been a long time since I read it. Yeah. Well, anyway, my repair shop is a new owner. The requests that I waive those rights. Oh okay, what do you think? Well, I would never wave it. Yeah, that's what I thought. I thought it was kind of it's buried in a long list of things that they want us to approve before we start using them. Well, I mean, I'm not saying that automatically makes them guilty, but let's see you actually actually hold on a second.

Under the actual act itself, you cannot wave your right. Oh. I have read it in the identify specific language that the customer can use to wave their rights. Well, the customer can do it. The customer can say I don't want a written okay, but you can't do it in their contract. Look, well they they asked that, Okay, you can sign Okay, you have to technically initiate it. I'm not going to split hairs

with you. There are exceptions. Yes, you can sign your rights away, Yes you can, yes, okay, okay, but but why would you do that? Exactly? That's what I was looking for. I don't see any advantage to me doing it. Well, I don't even know why they're asking you to. I don't like the idea at all. So there's some right now. What they may not want to do is get stuck with

a car that they can't work on. That's why they should give you an initial one up front that'll cover their ass and then on the off chance it's more, that's what they should do. I got to go on to hold on a second, Ernie, you have a comment on housing purchase. Go ahead, Ernie, Yes, can you hear me? Okay, yes, sir, go ahead, Yeah, just coming on the gentleman that called in

and telling the house to his daughter. Yes, Tom, is it possible that this gentleman, well, just because ardn't say was retired, But do take out a reverse mortgage? He catches out? I think you said. Helster works like four hundred and he's got three twenty pays off his old house. He's got two hundred and something. Yeah, but he he can't take a reverse loan out on a home that's not his primary residents, that he's not living in. That's the problem. By the way, I'm running out

of time. Let me let me give this out real quick call for your tickets for Thursday night. Please reserve a seat free of charge. Three oh three seven seven nine sixty six hundred. Three oh three seven seventy nine sixty six hundred. My Money, Myway dot com. That's seven seven nine sixty six hundred. Save all your problems for me