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Speaker 1: Now adjust the volume control so that the sound can be heard in all parts of the room.
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Speaker 2: This is the Protect Your Assets podcast.
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Speaker 1: You get the idea?
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Speaker 2: It's on the internet. Go on.
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Speaker 1: It's like no cheese I've ever tasted. Here's the Sandman. Would you ever buy a house in a foreign country sight unseen? Or what about a really expensive car? Don't you want to test drive it first? Well, unless you're JT. You see, my buddy just bought an ST five speed. I tried to get him to drive the touring and save a couple hundred grand, but no. Anyway, my point is, if you're thinking of retiring, can you test drive it before you quit? Well, today we're going to talk about retirement dating. Good morning. I am David Hollander, your host, and this is Protect Your Assets Radio. For those of you just joining us for the first time, welcome. You hear the jingle, people call me the Sandman. It may sound provocative, but to make the most of retirement, you should give retirement dating a try. But I'm happily married, you may be thinking. I don't want a retirement date. I don't care.
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Speaker 2: Do it.
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Speaker 1: Date often. Try all different types of dating until you get it right. If you do, you'll be thanking me later. So what do I mean by this retirement dating idea? Well, you see, retirement is really a big deal. Because once you retire, it's hard to un-retire So you really only get one shot at it, and thus you want to get it right. So this is why I suggest doing a retirement trial run or a date, or maybe several dates, a few years before you actually pull that proverbial plug on the career you've worked so hard for all these years. So if you've been thinking about retirement... then today's show is just for you. It's all coming up next. Now, let's get started. Well, lots to talk about here this sleepy August week for the major markets. We had a good week overall. The S & P was up half a percent. Dow up positive, up a half a percent. NASDAQ almost up 1%, 0.8%. Russell was off. The Russell 2000 off about 1.5%. Now, the 10-year treasury is what we've been talking about for a while. It finally got to 4.7%. That is significant. And the two-year treasury saw a big jump there this week at 4.35%. Now, oil is still up over $ 83, 83.40 on the W2I. Brent, 89.31. So oil price is still elevated.
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Speaker 3: Gold... $ 44. 78 an ounce and the Bitcoin $ 79, 700. VIX is still low in volatility at $ 14.
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Speaker 2: 63.
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Speaker 1: So let's talk about the two-year Treasury jump. It jumped about 12 points, that's basis points, this past Friday to settle at $ 4. 35. Now this was the biggest one-day jump we've seen since March. And why this happened was because Kevin Warsh as you know, who's now leading the Fed, had his speech at the Jackson Hole this past week where he said basically that inflation remains above the Fed's 2% target and that the Fed had a lot more work to do until it convincingly declines in their opinion. So markets didn't like that and they responded by raising the probability of a September rate increase From 35%, this was before the speech last week, to now, it's looking around 57% to 60% potential September hike. And that's a problem, obviously, for markets. More on that in a minute. Also, oil. Oily oil finally came down a little bit this week. The surge settled down a little bit again because the Strait of Hort moves up about 4% this week. Gold was hit by... the higher rate expectations. So remember, as rates rise, gold will go down. And so we saw gold down 3.25% overall for the week. And the question that we talked about last week as it pertained to stocks this week, a big question was the NVIDIA earnings. So we saw AI earnings this week pretty strong, as NVIDIA reported another strong quarter. And they said about $ 108 billion in revenue is what they were looking for. Stock was down a little bit on Friday, but let's get into NVIDIA a little bit more. NVIDIA's earnings are significant as it relates to the AR market boom that we've seen this year in the last few years. And here's why. Let me break this down a little bit for you. Since the release of chat in late 22, NVIDIA has become the market's de facto barometer for the health of the broader AI ecosystem. Sitting at the center of the AI infrastructure build-out, the company's earnings carry implications far beyond just NVIDIA's stock price. So NVIDIA now accounts for roughly a third of technology sector profits. Think about that, a third of the profits. Accounts for more than 7% of total S & P 500 profits and nearly 8% of that index itself. So as a result, the quarterly results have become one of the most important gauges of both AI demand and broader market sentiment. The company reported a huge quarter, extending its streak of earnings and revenue beat for 15 quarters in a row and delivering the following message. Management said that the revenue growth was 70% next year. This was huge because analysts were saying it would be around 46%. The more important takeaway from the discussion that I took away from this was that the demand, the consumer demand right now is closer to 100%. And this is important because the challenge moving forward isn't demand. It's the ability to keep up with it. So in our view, AI demand and capital spending are strong with little evidence that customers are pulling back on investment plans. And so for now, we believe the burden of proof has shifted back to those arguing that AI investment cycle is nearing its end. Now, what are you going to be looking for next week? The big one that's coming down will be the August employment report because obviously the consensus is around 45,000, but we got a surprise, remember, in July. And so then right after that, you got the Fed 15, 16 in September meeting to talk about rates and what they're going to do. So that's what we're going to be watching. Of course, straight at her muse, it'll always be an issue with price of oil and that. But overall, that's the big news for next week. Coming up next, find out how to play the field and not get in trouble with your spouse. You're listening to the Protect Your Assets show. This is David Hollander with Sam Am. We'll be right back.
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Speaker 2: Times are changing. Some would say they've already changed. And how do you actually protect your assets? David Hollander's Protect Your Assets events focus on common financial concerns that individuals and families face in retirement. Things like how to prepare for unexpected medical expenses and ways to create income to help support your desired lifestyle. Join us at our next free event to learn how addressing these concerns can help you feel more confident about the days ahead. and help you sleep better at night. Just go to pyaevents.com and reserve your seat today. That's pyaevents.com. And sign up or join the wait list today. pyaevents.com. Now, back to Protect Your Assets with David Hollander, the Sandman.
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Speaker 1: Welcome back. I am David Hollander. They call me the Sandman around here. So I just got a call from Mike. We'll get to that in a second. But the question is, when you buy a car, do you just jump right in and buy it? Or do you want to take it out for a test drive? Well, if that's you, we're talking today about retirement dating. Because let's face it, you don't want to make a bad decision. So how do you try it out before you do it, if you think about it? It could be smart to take your retirement for a test drive before you just jump in and leave your job. So stay with us today as we share how to test drive retirement and make sure it's right for you. Now that you know what I mean by retirement dating, let's talk about the couple of areas worth dating before the real deal. But before I do that, I just got a call from Mike. Mike's in Oakland. and he asked about selling his LLC and what are the tax implications of that. So thanks, Mike, for the question. Look, if you're in California and you have an LLC, I'm assuming it's a California LLC. So let me ask that first, because there are other states like Nevada and so forth where you can set up an LLC. Let's assume it's a California LLC and you are a California resident and you sell that business, which I assume is what the LLC owns, not a piece of real estate. Let's assume it's a business and you sell it for a profit. Well, that will be a capital gain if you're making money on that sale. And the question becomes, Is it a short-term or is it a long-term gain? And then the other question you want to get into is depreciation, because if you have assets on the balance sheet that are going to go along with that business, then potentially some of those assets have been depreciated, in which case there might be some recapture back to you. In other words, more income, more taxes you have to think about before you sell it. So, Mike, what I would recommend you do if you're considering doing this, first, get a copy of my book. I wrote a book all about selling your business and what you need to know before you do it. And I'm happy to give that to you this morning by calling the following number, 866-PROTECT. Just call 866-PROTECT and let them know that you're thinking of selling your business, need a little help, and we'll shoot you out that book. Absolutely complimentary. We'll shoot that out to you now. Now that we're going to talk about retirement dating, let's think about a few things, a couple areas we're thinking about. First, play the field by trying out different retirement destinations. Now, let's face it. California is amazing. The weather's incredible, but it's gotten a lot more expensive and a lot harder just to live here. They slowly are peeling away things that we came to enjoy for so many years. Well, like what? Well, we've got the nation's highest state tax rates for one. We have insane, insane property values. And we have weather that has become challenging. So let's face it. Now you are most likely to be able to work from anywhere. So now is really the perfect time. for you to try out other areas of the country or the world to check out a possible retirement destination before you say you're done. Now, I've been lucky and traveled pretty much every continent in the world. And I'll tell you from my experience and from seeing other clients do this, it can be pretty satisfying. to construct a schedule that works for you and for your customers or clients, and live out some of the dreams that you've had for all these years. So do you have a dream of a particular location in mind? Well, listen to this. According to Social Security, this is recent, over 733,000 people right now receive their Social Security checks from abroad. Now, that's a 50% jump from 2000, and I bet the biggest reason for that is technology and the ability to Zoom now and almost be virtual when it comes to contact. So think about that. What do you think the number one and two countries are right now where Americans live that are outside of the U.S.? What do you think? Well, you're right about Mexico. That's true. But Canada, Canada's number one. Then all the European countries are number three if you put them all together. So the sooner you begin researching your future location, the longer you're going to have to find just the right spot. And that's what's so important. But don't make your research all Google searches and reading travel articles. You really have to get out there and make it fun. So let's start with something that I love, which is food. And for me, I would pick a country that makes my favorite food. Then I would vacation in an area that meets the qualities you're looking for. Like what? Well, maybe you like the outdoors. You like to just be able to walk off on a trail and disappear in the mountains. Maybe you like to ski. Maybe you like the ocean. So there's just so many things. Maybe like the desert. There's so many different things that you can choose from.
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Speaker 2: So.
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Speaker 1: First, I would recommend that you spend at least a month, minimum of a month, in an area where you're thinking about you might want to retire or live part of your retirement. Again, this is not the rest of your life. Maybe this becomes a few years while you're able to use it as a retirement base and jump around and do different things, which if you're in Europe, that becomes a lot easier. And what I would recommend is that you get a home base. Don't try to move around too much. So let's think about this. If you're going to say, okay, I'm going to give it a month or six weeks or two months to explore this. Again, we're just dating right now. We're not making any firm commitment. Then let's say we pick Italy. So here's what I would not recommend. Don't go to Venice, Milan, Florence, Rome over that one month period. That's not a good idea. I would spend that entire month just in Rome. Or just in Florence. And then walk. Walk a lot and discover all the cool different things. And the other thing, which is yesterday, my wife and I were out walking and we walked the same trail all the time. And we stopped and looked up and we noticed something. So as you're out there walking, stop and look around. Look up. Next, to save a bundle when you do this. Now, this again comes from my experience. And again, relating this to clients and they're doing this as well, is to rent a flat through Airbnb or VRBO. Don't go to a hotel and stay there for a month because you need to feel like you're local. And You need to understand what it's like just to be in that particular neighborhood. So you may not know which neighborhood, say, in Rome is one that's a good one. That you could read some articles to find out the different cost of different types of properties. You're usually looking for a property more similar to environment you're in. So if you're, say, in an upper middle class area and you're looking for something like that, look for property values in a particular area that are higher costs than others and find out why that's being driven. Is it proximity to work? Is it proximity to beautiful locations? Things like that. So find out an area that's in Rome that might meet what you're looking for. And then you could go to Airbnb and focus on a neighborhood of rentals that are in that particular neighborhood. And then what you want to do is you want to reach out to the owner. So if they're charging, say, $ 1, 000 a night, and I'm being very, you know, That's a lot. I'm being very big thinking here. That's not what you're going to spend for a month. So let's say you say you want to go in October to Rome. That's not a huge travel month compared to say the summer. So you should be able to negotiate a pretty good price. Maybe December works for you. That'd be a much better pricing point for you. So what you want to do is find a place That's beautiful. It checks all your boxes, maybe even exceeds your expectations. Like, there's no way I could live in something like that. Don't say that. Message the owner and say, hey, I'm thinking of, you know, being in your town for a month of October or December, what meets your flexibility? And I'd offer you, say, $ 8, 000 or $ 5, 000, whatever your budget is, for that month. And hit five or six of them through messaging. You're going to be surprised. Someone's going to come back to you and say, I'll take it. And then you do a deal. And that's how it works. And what really cool about that, because my wife and I have a place in Paris that we did exactly this. And now every time we go over there, he just lets us use it for free. I'm not kidding. Like we literally do a trade-off and I pay for the cleaning, but This gentleman's just great. And it's right in the district we love and it has a great coffee machine and you know, all these things that are awesome. So again, you never know where this is going to go. And this has happened to other clients of mine too, where it told me this really works. And now we've got all these friends and we're, you know, doing this and that. Don't forget you live in one of the best places in the world. Your place has a lot of value too. So think about that. All right. So that's a little bit about that. VRBO works the same way, by the way. And think big. Just go for it. Don't believe everything you read. For example, some articles will tell you it costs X per year to live in Paris or Buenos Aires. I look at those very skeptically. Speaking from experience once again, you can usually find a very great place by walking the streets, figuring out what you like, and then digging in deep with a realtor or a broker who to find something to buy before you do that. Now, I've found that the cost of living, food, transportation, and even medical expenses are much cheaper than you and I are used to right now here in the Bay Area. In fact, you're going to feel guilty as you see the bill. You're going to be like, what? Okay.
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Speaker 2: Fine.
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Speaker 1: Are you dreaming of retiring early and maybe settling down in Rome? Or how about Phuket? If so, call this number right now and get my free retirement checklist to see if you're ready. We'll email this to you now. Call this number 866-776-8328. Again, that number to get your retirement checklist free this morning.
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Speaker 2: 866-776-8328.
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Speaker 1: In this, there will be things you have not thought about So get yours right now by calling 866-PROTECT. 866-PROTECT. Coming up next, it's time for our popular They Say segment, where they say retirement planning is all about money and income. Is that true? You don't want to miss this one. You're listening to Protect Your Assets with David Hollander. That's me. We'll be right back.
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Speaker 2: Take the first step toward reaching your financial goals and get the information that can help you live a confident retirement. That first step is going to PYAevents.com and signing up for our next free event. That's PYAevents.com. Now back to protect your assets with David Hollander, the Sandman.
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Speaker 1: Welcome back. I am David Hollander, also known as the Sandman around here. We're talking this morning about... walking into Monday, tell them you're done. But before you do that, knowing why, okay, so it's called retirement dating. And this is what we're talking about this morning. And this is what we will be getting into this particular segment as we look at some other things that are important as you consider finally leaving your job. Now it's time for one of our fan favorite parts of the show. This is our they say segment where we debunk common myths, half truths, And sometimes it's bad advice that they say.
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Speaker 2: Who are they? What do they know that I don't? And what are they saying this week? Here's David Hollander, the Sandman's answer.
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Speaker 1: All right, so here's one they say. They say retirement planning is all about money and income. Is that true? Well, of course, it's important that you cover those subjects as you build your retirement plan. But from my over 30 years experience, I'll tell you that there is something else that's equally important to consider as you start to think about retirement. Here's one. Play around with how you'll use your free time. What does that mean? Consider this. You're going to have 2,000 extra hours a year to find something to do. How are you going to fill that time? You may want to write these down. Here are some things to think about. Volunteering at a local charity that resonates with you. Giving back by teaching to a younger generation or somebody new to the field because you've built up a plethora of skills and knowledge over the years that someone will find extremely beneficial to them and help them do better in their community and what they're doing. So how do you do that? Well, you could try and teach something at a local community college. You might just do a pop-up. I saw somebody last night who rented a storefront that was empty just for the night, had a poster out on the sidewalk, and they were inviting people in just to talk about a subject.
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Speaker 2: Super interesting. Why not?
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Speaker 1: How about mentoring a student in their career? Many colleges have career offices. Try walking into one. giving him your CV and say you're more than happy to offer a mentorship. Or you can always post at the career website what you're trying to do or what you're offering. Absolutely complimentary. Why not? One of my favorites, take up that hobby you've always wanted to do. Now let's talk about Rick. Rick wanted to learn how to drive a sports car well. And now let's just say he's spending lots of his time at the track, driving lots of cars and meeting lots of people and really enjoying those 2,000 hours. You could also go back to school and learn something you always wanted to do or pursue. Let me give you another example. Marsha, she went back to law school and became an attorney. Of course, you don't have to go to that extreme as there are plenty of places offering free online classes that could make you a better cook, for instance.
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Speaker 2: Ha ha.
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Speaker 1: Or mechanic, or whatever it is you're interested in, check it out. What do you got to lose? Try taking the time to try out any of these activities you've dreamed about and see if they truly provide joy and value. And that's what it's going to take to make a huge difference in your retirement lifestyle. Because one of the trickiest factors to consider here is your mental health and your stability and your outlook as you get up every morning to find something you do. And your tastes, your passions, they change. That's part of life. It's healthy. And it's almost impossible to know what you're going to enjoy 20, maybe 30 years from now. And that's what you're talking about here if you're starting to think about retirement in your 60s. So do me a favor. Just do your best. Try out a few different dating options to help you make this transition easier. Does that sound good?
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Speaker 2: Good.
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Speaker 1: So listen, if any of today's information has been helpful to you, just imagine... What we can help you accomplish when we give you advice that's tailored specifically to you. If you boil it down, our mission at the Liberty Group is to help you protect your money and your lifestyle so you can remain financially independent and enjoy, underline enjoy, the rest of your life. Wouldn't it feel great to know that you can retire with consistent, stable income, do what you want to do when you want to do it, And don't worry about taxes, the market, or what else could hit you. Because there's many things that you're not aware of that will happen. Trust me. And you want to know who you can call. That's us to make sure you're at least looking at it from an objective standpoint. So if you want to just talk to somebody right now, call us. Call us. 866- 866-776-8328. Because this morning I am sending out my new retirement checklist. Now this is a quick, easy read. Walks you through a lot of things you probably even thought about. Sending it to you this morning. Absolutely complimentary.
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Speaker 2: 866-776-8328.
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Speaker 1: You worked hard. You've got a lot of protect. Call us now.
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Speaker 2: 866-PROTECT.
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Speaker 1: Keep it tuned right here because when I come back, I'm going to teach you how to experiment before it becomes expensive. We'll be right back.
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Speaker 2: Times are changing. Some would say they've already changed. And how do you actually protect your assets? David Hollander's Protect Your Assets events focus on common financial concerns that individuals and families face in retirement. Things like how to prepare for unexpected medical expenses and ways to create income to help support your desired lifestyle. Join us at our next free event to learn how addressing these concerns can help you feel more confident about the days ahead. and help you sleep better at night. Just go to pyaevents.com and reserve your seat today. That's pyaevents.com. And sign up or join the wait list today. pyaevents.com. Now, back to Protect Your Assets with David Hollander, the Sandman.
00:28:59
Speaker 1: Got a question for you this morning. When you buy a car, do you just jump right in and buy it? Or do you take it on a test drive first to make sure it feels right? If you think about it, it may be smart to take your retirement for a test drive before you just jump in and leave your job, don't you think? So that's why today we've been talking about how do you test drive retirement and make sure it's right for you. We call this retirement dating. And I've been through a couple things. you definitely want to consider before you do it and next on the list is have fun but don't commit until you're sure so what I'm I talking about there? Well, here's some examples that come straight from clients who've done this. Everyone wants to have fun during retirement, but sometimes that fun comes with a massive price tag. For example, a lot of times people think they want to travel to Around the country, it's a romantic idea of driving around wherever they want to go. Just park it and do it on the side of the road, right? We all get that. So what do you do? Well, you go and you buy an RV or you buy a big giant boat. Before you do something like that, I would advise you to rent it. You can rent an RV, a boat, a race car. You can pretty much rent anything you want. And the price tag is just so much less. typically than buying it. Sure, it's going to be expensive, particularly if the hobby or whatever you're looking at is going to be expensive. But I'm just telling you right now, that price tag is far different. And it's far easier to figure out remotely if you have any sort of good feeling about it before you just jump right in and do it. All these things take coaches, because let's face it, you haven't done them. You haven't driven them. You haven't sailed them. And so you're going to need some help. So you're going to need a good coach to teach you how to do all that. And you don't want to make all that kind of investment in money and time and commitment unless you remotely have an interest in it. So again, test drive that stuff before you just do it. All right, what else? Are you worried about taxes? Taxes in your retirement, how they're going to impact that RMD from your 401k? If you don't know that right now, if you don't know how much more you're going to spend on taxes as that money starts to come out of your 401k because it has to, the government makes you take it even if you don't.
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Speaker 2: Want it or not.
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Speaker 1: That's a sign. It's a sign that you're not comfortable with where you're going. It's not about changing your advisor. It's about becoming more informed. And it always makes sense to be more informed because you don't know what you don't know. So how can you become more knowledgeable without even leaving your home? Well, we have a YouTube channel. I don't know if you knew that. And on that YouTube channel, we have different webinars. And these webinars are plain English, straightforward conversations where we discuss things you need to know because you live in an area that's remotely an interesting place. complex area if you're hearing me right now. Like what? Well, how will taxes change in your retirement? How can you protect your assets from attorneys, the government, and keep more of them for your family? How about this one? What's a sensible way to avoid fighting later amongst your kids that could really tear them apart or ruin their relationship? These things happen all the time. By going to our YouTube channel, type in Liberty Group, David Hollander, You'll find our channel. This is a great way to get to know us, see what we stand for, how we look at things, how we analyze things. You listen to me on the show. So now see me on your screen. Go to YouTube and just type in the Liberty Group, David Hollander, and find out more of those subjects that maybe you're interested in. Now, this morning I've been giving away the Test Drive Retirement Checklist. This is quick. It's easy. We'll email it to you complimentary right now. To get yours, call this number, 866-PROTECT, 866-776-8328. Let me give it to you again, 866-776-8328. I'd like to give a big thanks to the Protect Your Asses team this morning for a great show as it relates to your retirement and what you need to know. My executive producer and network manager, Kevin Renfer, and of course, All my fabulous producers back there, Phil, Nick, Raph, Dylan. Because without my team, I'm just another pretty voice on the radio. You've been listening to the Protect Your Assets show. I am David Hollander, the Sandman. Go out and make the rest of your life the best of your life.
00:34:04
Speaker 2: Investment advisory services are offered through Liberty Wealth Management, a registered investment advisor. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. The strategies mentioned are not suitable for everyone. The information expressed does not consider your specific situation or objectives and may not be appropriate for all investors. Past performance is not indicative of future results. To better understand the risk associated with investing and how it reacts to different market conditions, Listeners should always consult with their qualified investment professionals, financial advisors, legal or tax specialists, and conduct their due diligence before making any financial decisions or taking any action. The legal information provided on the air is not intended to substitute for callers hiring their lawyers to advise them about personal legal matters. Investments involve risk and, unless otherwise stated, are not guaranteed. Liberty Group LLC, paid for the following program and the host's views and opinions do not represent those of the station or its ownership. California Life Agent number 048569. Persons engaging the services of one affiliate of Liberty Group LLC companies should be aware that each company is operated separately. You are listening to the Protect Your Assets Radio Network.
Speaker 1: Now adjust the volume control so that the sound can be heard in all parts of the room.
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Speaker 2: This is the Protect Your Assets podcast.
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Speaker 1: You get the idea?
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Speaker 2: It's on the internet. Go on.
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Speaker 1: It's like no cheese I've ever tasted. Here's the Sandman. Would you ever buy a house in a foreign country sight unseen? Or what about a really expensive car? Don't you want to test drive it first? Well, unless you're JT. You see, my buddy just bought an ST five speed. I tried to get him to drive the touring and save a couple hundred grand, but no. Anyway, my point is, if you're thinking of retiring, can you test drive it before you quit? Well, today we're going to talk about retirement dating. Good morning. I am David Hollander, your host, and this is Protect Your Assets Radio. For those of you just joining us for the first time, welcome. You hear the jingle, people call me the Sandman. It may sound provocative, but to make the most of retirement, you should give retirement dating a try. But I'm happily married, you may be thinking. I don't want a retirement date. I don't care.
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Speaker 2: Do it.
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Speaker 1: Date often. Try all different types of dating until you get it right. If you do, you'll be thanking me later. So what do I mean by this retirement dating idea? Well, you see, retirement is really a big deal. Because once you retire, it's hard to un-retire So you really only get one shot at it, and thus you want to get it right. So this is why I suggest doing a retirement trial run or a date, or maybe several dates, a few years before you actually pull that proverbial plug on the career you've worked so hard for all these years. So if you've been thinking about retirement... then today's show is just for you. It's all coming up next. Now, let's get started. Well, lots to talk about here this sleepy August week for the major markets. We had a good week overall. The S & P was up half a percent. Dow up positive, up a half a percent. NASDAQ almost up 1%, 0.8%. Russell was off. The Russell 2000 off about 1.5%. Now, the 10-year treasury is what we've been talking about for a while. It finally got to 4.7%. That is significant. And the two-year treasury saw a big jump there this week at 4.35%. Now, oil is still up over $ 83, 83.40 on the W2I. Brent, 89.31. So oil price is still elevated.
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Speaker 3: Gold... $ 44. 78 an ounce and the Bitcoin $ 79, 700. VIX is still low in volatility at $ 14.
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Speaker 2: 63.
00:03:20
Speaker 1: So let's talk about the two-year Treasury jump. It jumped about 12 points, that's basis points, this past Friday to settle at $ 4. 35. Now this was the biggest one-day jump we've seen since March. And why this happened was because Kevin Warsh as you know, who's now leading the Fed, had his speech at the Jackson Hole this past week where he said basically that inflation remains above the Fed's 2% target and that the Fed had a lot more work to do until it convincingly declines in their opinion. So markets didn't like that and they responded by raising the probability of a September rate increase From 35%, this was before the speech last week, to now, it's looking around 57% to 60% potential September hike. And that's a problem, obviously, for markets. More on that in a minute. Also, oil. Oily oil finally came down a little bit this week. The surge settled down a little bit again because the Strait of Hort moves up about 4% this week. Gold was hit by... the higher rate expectations. So remember, as rates rise, gold will go down. And so we saw gold down 3.25% overall for the week. And the question that we talked about last week as it pertained to stocks this week, a big question was the NVIDIA earnings. So we saw AI earnings this week pretty strong, as NVIDIA reported another strong quarter. And they said about $ 108 billion in revenue is what they were looking for. Stock was down a little bit on Friday, but let's get into NVIDIA a little bit more. NVIDIA's earnings are significant as it relates to the AR market boom that we've seen this year in the last few years. And here's why. Let me break this down a little bit for you. Since the release of chat in late 22, NVIDIA has become the market's de facto barometer for the health of the broader AI ecosystem. Sitting at the center of the AI infrastructure build-out, the company's earnings carry implications far beyond just NVIDIA's stock price. So NVIDIA now accounts for roughly a third of technology sector profits. Think about that, a third of the profits. Accounts for more than 7% of total S & P 500 profits and nearly 8% of that index itself. So as a result, the quarterly results have become one of the most important gauges of both AI demand and broader market sentiment. The company reported a huge quarter, extending its streak of earnings and revenue beat for 15 quarters in a row and delivering the following message. Management said that the revenue growth was 70% next year. This was huge because analysts were saying it would be around 46%. The more important takeaway from the discussion that I took away from this was that the demand, the consumer demand right now is closer to 100%. And this is important because the challenge moving forward isn't demand. It's the ability to keep up with it. So in our view, AI demand and capital spending are strong with little evidence that customers are pulling back on investment plans. And so for now, we believe the burden of proof has shifted back to those arguing that AI investment cycle is nearing its end. Now, what are you going to be looking for next week? The big one that's coming down will be the August employment report because obviously the consensus is around 45,000, but we got a surprise, remember, in July. And so then right after that, you got the Fed 15, 16 in September meeting to talk about rates and what they're going to do. So that's what we're going to be watching. Of course, straight at her muse, it'll always be an issue with price of oil and that. But overall, that's the big news for next week. Coming up next, find out how to play the field and not get in trouble with your spouse. You're listening to the Protect Your Assets show. This is David Hollander with Sam Am. We'll be right back.
00:07:50
Speaker 2: Times are changing. Some would say they've already changed. And how do you actually protect your assets? David Hollander's Protect Your Assets events focus on common financial concerns that individuals and families face in retirement. Things like how to prepare for unexpected medical expenses and ways to create income to help support your desired lifestyle. Join us at our next free event to learn how addressing these concerns can help you feel more confident about the days ahead. and help you sleep better at night. Just go to pyaevents.com and reserve your seat today. That's pyaevents.com. And sign up or join the wait list today. pyaevents.com. Now, back to Protect Your Assets with David Hollander, the Sandman.
00:08:39
Speaker 1: Welcome back. I am David Hollander. They call me the Sandman around here. So I just got a call from Mike. We'll get to that in a second. But the question is, when you buy a car, do you just jump right in and buy it? Or do you want to take it out for a test drive? Well, if that's you, we're talking today about retirement dating. Because let's face it, you don't want to make a bad decision. So how do you try it out before you do it, if you think about it? It could be smart to take your retirement for a test drive before you just jump in and leave your job. So stay with us today as we share how to test drive retirement and make sure it's right for you. Now that you know what I mean by retirement dating, let's talk about the couple of areas worth dating before the real deal. But before I do that, I just got a call from Mike. Mike's in Oakland. and he asked about selling his LLC and what are the tax implications of that. So thanks, Mike, for the question. Look, if you're in California and you have an LLC, I'm assuming it's a California LLC. So let me ask that first, because there are other states like Nevada and so forth where you can set up an LLC. Let's assume it's a California LLC and you are a California resident and you sell that business, which I assume is what the LLC owns, not a piece of real estate. Let's assume it's a business and you sell it for a profit. Well, that will be a capital gain if you're making money on that sale. And the question becomes, Is it a short-term or is it a long-term gain? And then the other question you want to get into is depreciation, because if you have assets on the balance sheet that are going to go along with that business, then potentially some of those assets have been depreciated, in which case there might be some recapture back to you. In other words, more income, more taxes you have to think about before you sell it. So, Mike, what I would recommend you do if you're considering doing this, first, get a copy of my book. I wrote a book all about selling your business and what you need to know before you do it. And I'm happy to give that to you this morning by calling the following number, 866-PROTECT. Just call 866-PROTECT and let them know that you're thinking of selling your business, need a little help, and we'll shoot you out that book. Absolutely complimentary. We'll shoot that out to you now. Now that we're going to talk about retirement dating, let's think about a few things, a couple areas we're thinking about. First, play the field by trying out different retirement destinations. Now, let's face it. California is amazing. The weather's incredible, but it's gotten a lot more expensive and a lot harder just to live here. They slowly are peeling away things that we came to enjoy for so many years. Well, like what? Well, we've got the nation's highest state tax rates for one. We have insane, insane property values. And we have weather that has become challenging. So let's face it. Now you are most likely to be able to work from anywhere. So now is really the perfect time. for you to try out other areas of the country or the world to check out a possible retirement destination before you say you're done. Now, I've been lucky and traveled pretty much every continent in the world. And I'll tell you from my experience and from seeing other clients do this, it can be pretty satisfying. to construct a schedule that works for you and for your customers or clients, and live out some of the dreams that you've had for all these years. So do you have a dream of a particular location in mind? Well, listen to this. According to Social Security, this is recent, over 733,000 people right now receive their Social Security checks from abroad. Now, that's a 50% jump from 2000, and I bet the biggest reason for that is technology and the ability to Zoom now and almost be virtual when it comes to contact. So think about that. What do you think the number one and two countries are right now where Americans live that are outside of the U.S.? What do you think? Well, you're right about Mexico. That's true. But Canada, Canada's number one. Then all the European countries are number three if you put them all together. So the sooner you begin researching your future location, the longer you're going to have to find just the right spot. And that's what's so important. But don't make your research all Google searches and reading travel articles. You really have to get out there and make it fun. So let's start with something that I love, which is food. And for me, I would pick a country that makes my favorite food. Then I would vacation in an area that meets the qualities you're looking for. Like what? Well, maybe you like the outdoors. You like to just be able to walk off on a trail and disappear in the mountains. Maybe you like to ski. Maybe you like the ocean. So there's just so many things. Maybe like the desert. There's so many different things that you can choose from.
00:14:28
Speaker 2: So.
00:14:30
Speaker 1: First, I would recommend that you spend at least a month, minimum of a month, in an area where you're thinking about you might want to retire or live part of your retirement. Again, this is not the rest of your life. Maybe this becomes a few years while you're able to use it as a retirement base and jump around and do different things, which if you're in Europe, that becomes a lot easier. And what I would recommend is that you get a home base. Don't try to move around too much. So let's think about this. If you're going to say, okay, I'm going to give it a month or six weeks or two months to explore this. Again, we're just dating right now. We're not making any firm commitment. Then let's say we pick Italy. So here's what I would not recommend. Don't go to Venice, Milan, Florence, Rome over that one month period. That's not a good idea. I would spend that entire month just in Rome. Or just in Florence. And then walk. Walk a lot and discover all the cool different things. And the other thing, which is yesterday, my wife and I were out walking and we walked the same trail all the time. And we stopped and looked up and we noticed something. So as you're out there walking, stop and look around. Look up. Next, to save a bundle when you do this. Now, this again comes from my experience. And again, relating this to clients and they're doing this as well, is to rent a flat through Airbnb or VRBO. Don't go to a hotel and stay there for a month because you need to feel like you're local. And You need to understand what it's like just to be in that particular neighborhood. So you may not know which neighborhood, say, in Rome is one that's a good one. That you could read some articles to find out the different cost of different types of properties. You're usually looking for a property more similar to environment you're in. So if you're, say, in an upper middle class area and you're looking for something like that, look for property values in a particular area that are higher costs than others and find out why that's being driven. Is it proximity to work? Is it proximity to beautiful locations? Things like that. So find out an area that's in Rome that might meet what you're looking for. And then you could go to Airbnb and focus on a neighborhood of rentals that are in that particular neighborhood. And then what you want to do is you want to reach out to the owner. So if they're charging, say, $ 1, 000 a night, and I'm being very, you know, That's a lot. I'm being very big thinking here. That's not what you're going to spend for a month. So let's say you say you want to go in October to Rome. That's not a huge travel month compared to say the summer. So you should be able to negotiate a pretty good price. Maybe December works for you. That'd be a much better pricing point for you. So what you want to do is find a place That's beautiful. It checks all your boxes, maybe even exceeds your expectations. Like, there's no way I could live in something like that. Don't say that. Message the owner and say, hey, I'm thinking of, you know, being in your town for a month of October or December, what meets your flexibility? And I'd offer you, say, $ 8, 000 or $ 5, 000, whatever your budget is, for that month. And hit five or six of them through messaging. You're going to be surprised. Someone's going to come back to you and say, I'll take it. And then you do a deal. And that's how it works. And what really cool about that, because my wife and I have a place in Paris that we did exactly this. And now every time we go over there, he just lets us use it for free. I'm not kidding. Like we literally do a trade-off and I pay for the cleaning, but This gentleman's just great. And it's right in the district we love and it has a great coffee machine and you know, all these things that are awesome. So again, you never know where this is going to go. And this has happened to other clients of mine too, where it told me this really works. And now we've got all these friends and we're, you know, doing this and that. Don't forget you live in one of the best places in the world. Your place has a lot of value too. So think about that. All right. So that's a little bit about that. VRBO works the same way, by the way. And think big. Just go for it. Don't believe everything you read. For example, some articles will tell you it costs X per year to live in Paris or Buenos Aires. I look at those very skeptically. Speaking from experience once again, you can usually find a very great place by walking the streets, figuring out what you like, and then digging in deep with a realtor or a broker who to find something to buy before you do that. Now, I've found that the cost of living, food, transportation, and even medical expenses are much cheaper than you and I are used to right now here in the Bay Area. In fact, you're going to feel guilty as you see the bill. You're going to be like, what? Okay.
00:19:53
Speaker 2: Fine.
00:19:54
Speaker 1: Are you dreaming of retiring early and maybe settling down in Rome? Or how about Phuket? If so, call this number right now and get my free retirement checklist to see if you're ready. We'll email this to you now. Call this number 866-776-8328. Again, that number to get your retirement checklist free this morning.
00:20:21
Speaker 2: 866-776-8328.
00:20:21
Speaker 1: In this, there will be things you have not thought about So get yours right now by calling 866-PROTECT. 866-PROTECT. Coming up next, it's time for our popular They Say segment, where they say retirement planning is all about money and income. Is that true? You don't want to miss this one. You're listening to Protect Your Assets with David Hollander. That's me. We'll be right back.
00:21:06
Speaker 2: Take the first step toward reaching your financial goals and get the information that can help you live a confident retirement. That first step is going to PYAevents.com and signing up for our next free event. That's PYAevents.com. Now back to protect your assets with David Hollander, the Sandman.
00:21:27
Speaker 1: Welcome back. I am David Hollander, also known as the Sandman around here. We're talking this morning about... walking into Monday, tell them you're done. But before you do that, knowing why, okay, so it's called retirement dating. And this is what we're talking about this morning. And this is what we will be getting into this particular segment as we look at some other things that are important as you consider finally leaving your job. Now it's time for one of our fan favorite parts of the show. This is our they say segment where we debunk common myths, half truths, And sometimes it's bad advice that they say.
00:22:11
Speaker 2: Who are they? What do they know that I don't? And what are they saying this week? Here's David Hollander, the Sandman's answer.
00:22:21
Speaker 1: All right, so here's one they say. They say retirement planning is all about money and income. Is that true? Well, of course, it's important that you cover those subjects as you build your retirement plan. But from my over 30 years experience, I'll tell you that there is something else that's equally important to consider as you start to think about retirement. Here's one. Play around with how you'll use your free time. What does that mean? Consider this. You're going to have 2,000 extra hours a year to find something to do. How are you going to fill that time? You may want to write these down. Here are some things to think about. Volunteering at a local charity that resonates with you. Giving back by teaching to a younger generation or somebody new to the field because you've built up a plethora of skills and knowledge over the years that someone will find extremely beneficial to them and help them do better in their community and what they're doing. So how do you do that? Well, you could try and teach something at a local community college. You might just do a pop-up. I saw somebody last night who rented a storefront that was empty just for the night, had a poster out on the sidewalk, and they were inviting people in just to talk about a subject.
00:24:13
Speaker 2: Super interesting. Why not?
00:24:16
Speaker 1: How about mentoring a student in their career? Many colleges have career offices. Try walking into one. giving him your CV and say you're more than happy to offer a mentorship. Or you can always post at the career website what you're trying to do or what you're offering. Absolutely complimentary. Why not? One of my favorites, take up that hobby you've always wanted to do. Now let's talk about Rick. Rick wanted to learn how to drive a sports car well. And now let's just say he's spending lots of his time at the track, driving lots of cars and meeting lots of people and really enjoying those 2,000 hours. You could also go back to school and learn something you always wanted to do or pursue. Let me give you another example. Marsha, she went back to law school and became an attorney. Of course, you don't have to go to that extreme as there are plenty of places offering free online classes that could make you a better cook, for instance.
00:25:23
Speaker 2: Ha ha.
00:25:24
Speaker 1: Or mechanic, or whatever it is you're interested in, check it out. What do you got to lose? Try taking the time to try out any of these activities you've dreamed about and see if they truly provide joy and value. And that's what it's going to take to make a huge difference in your retirement lifestyle. Because one of the trickiest factors to consider here is your mental health and your stability and your outlook as you get up every morning to find something you do. And your tastes, your passions, they change. That's part of life. It's healthy. And it's almost impossible to know what you're going to enjoy 20, maybe 30 years from now. And that's what you're talking about here if you're starting to think about retirement in your 60s. So do me a favor. Just do your best. Try out a few different dating options to help you make this transition easier. Does that sound good?
00:26:31
Speaker 2: Good.
00:26:32
Speaker 1: So listen, if any of today's information has been helpful to you, just imagine... What we can help you accomplish when we give you advice that's tailored specifically to you. If you boil it down, our mission at the Liberty Group is to help you protect your money and your lifestyle so you can remain financially independent and enjoy, underline enjoy, the rest of your life. Wouldn't it feel great to know that you can retire with consistent, stable income, do what you want to do when you want to do it, And don't worry about taxes, the market, or what else could hit you. Because there's many things that you're not aware of that will happen. Trust me. And you want to know who you can call. That's us to make sure you're at least looking at it from an objective standpoint. So if you want to just talk to somebody right now, call us. Call us. 866- 866-776-8328. Because this morning I am sending out my new retirement checklist. Now this is a quick, easy read. Walks you through a lot of things you probably even thought about. Sending it to you this morning. Absolutely complimentary.
00:27:46
Speaker 2: 866-776-8328.
00:27:52
Speaker 1: You worked hard. You've got a lot of protect. Call us now.
00:27:55
Speaker 2: 866-PROTECT.
00:27:58
Speaker 1: Keep it tuned right here because when I come back, I'm going to teach you how to experiment before it becomes expensive. We'll be right back.
00:28:09
Speaker 2: Times are changing. Some would say they've already changed. And how do you actually protect your assets? David Hollander's Protect Your Assets events focus on common financial concerns that individuals and families face in retirement. Things like how to prepare for unexpected medical expenses and ways to create income to help support your desired lifestyle. Join us at our next free event to learn how addressing these concerns can help you feel more confident about the days ahead. and help you sleep better at night. Just go to pyaevents.com and reserve your seat today. That's pyaevents.com. And sign up or join the wait list today. pyaevents.com. Now, back to Protect Your Assets with David Hollander, the Sandman.
00:28:59
Speaker 1: Got a question for you this morning. When you buy a car, do you just jump right in and buy it? Or do you take it on a test drive first to make sure it feels right? If you think about it, it may be smart to take your retirement for a test drive before you just jump in and leave your job, don't you think? So that's why today we've been talking about how do you test drive retirement and make sure it's right for you. We call this retirement dating. And I've been through a couple things. you definitely want to consider before you do it and next on the list is have fun but don't commit until you're sure so what I'm I talking about there? Well, here's some examples that come straight from clients who've done this. Everyone wants to have fun during retirement, but sometimes that fun comes with a massive price tag. For example, a lot of times people think they want to travel to Around the country, it's a romantic idea of driving around wherever they want to go. Just park it and do it on the side of the road, right? We all get that. So what do you do? Well, you go and you buy an RV or you buy a big giant boat. Before you do something like that, I would advise you to rent it. You can rent an RV, a boat, a race car. You can pretty much rent anything you want. And the price tag is just so much less. typically than buying it. Sure, it's going to be expensive, particularly if the hobby or whatever you're looking at is going to be expensive. But I'm just telling you right now, that price tag is far different. And it's far easier to figure out remotely if you have any sort of good feeling about it before you just jump right in and do it. All these things take coaches, because let's face it, you haven't done them. You haven't driven them. You haven't sailed them. And so you're going to need some help. So you're going to need a good coach to teach you how to do all that. And you don't want to make all that kind of investment in money and time and commitment unless you remotely have an interest in it. So again, test drive that stuff before you just do it. All right, what else? Are you worried about taxes? Taxes in your retirement, how they're going to impact that RMD from your 401k? If you don't know that right now, if you don't know how much more you're going to spend on taxes as that money starts to come out of your 401k because it has to, the government makes you take it even if you don't.
00:31:34
Speaker 2: Want it or not.
00:31:35
Speaker 1: That's a sign. It's a sign that you're not comfortable with where you're going. It's not about changing your advisor. It's about becoming more informed. And it always makes sense to be more informed because you don't know what you don't know. So how can you become more knowledgeable without even leaving your home? Well, we have a YouTube channel. I don't know if you knew that. And on that YouTube channel, we have different webinars. And these webinars are plain English, straightforward conversations where we discuss things you need to know because you live in an area that's remotely an interesting place. complex area if you're hearing me right now. Like what? Well, how will taxes change in your retirement? How can you protect your assets from attorneys, the government, and keep more of them for your family? How about this one? What's a sensible way to avoid fighting later amongst your kids that could really tear them apart or ruin their relationship? These things happen all the time. By going to our YouTube channel, type in Liberty Group, David Hollander, You'll find our channel. This is a great way to get to know us, see what we stand for, how we look at things, how we analyze things. You listen to me on the show. So now see me on your screen. Go to YouTube and just type in the Liberty Group, David Hollander, and find out more of those subjects that maybe you're interested in. Now, this morning I've been giving away the Test Drive Retirement Checklist. This is quick. It's easy. We'll email it to you complimentary right now. To get yours, call this number, 866-PROTECT, 866-776-8328. Let me give it to you again, 866-776-8328. I'd like to give a big thanks to the Protect Your Asses team this morning for a great show as it relates to your retirement and what you need to know. My executive producer and network manager, Kevin Renfer, and of course, All my fabulous producers back there, Phil, Nick, Raph, Dylan. Because without my team, I'm just another pretty voice on the radio. You've been listening to the Protect Your Assets show. I am David Hollander, the Sandman. Go out and make the rest of your life the best of your life.
00:34:04
Speaker 2: Investment advisory services are offered through Liberty Wealth Management, a registered investment advisor. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. The strategies mentioned are not suitable for everyone. The information expressed does not consider your specific situation or objectives and may not be appropriate for all investors. Past performance is not indicative of future results. To better understand the risk associated with investing and how it reacts to different market conditions, Listeners should always consult with their qualified investment professionals, financial advisors, legal or tax specialists, and conduct their due diligence before making any financial decisions or taking any action. The legal information provided on the air is not intended to substitute for callers hiring their lawyers to advise them about personal legal matters. Investments involve risk and, unless otherwise stated, are not guaranteed. Liberty Group LLC, paid for the following program and the host's views and opinions do not represent those of the station or its ownership. California Life Agent number 048569. Persons engaging the services of one affiliate of Liberty Group LLC companies should be aware that each company is operated separately. You are listening to the Protect Your Assets Radio Network.
