Out of Money... Americans are Worse than Broke

[@NobodySpecialFinance]

Thank you so much Todd for having me on! Keep up the great work brother.

[@SachsRealty]

Thanks for your time Jack! Always a pleasure Sir🙏

[@tctctctctc-x7c]

@@SachsRealty Sad.

[@theinflationsituation8870]

I'm 2 minutes in. If you guys had beers at dinner, I'm un-subcribing. LOL You the man, JG_Nuke.

[@JungunIRL]

You forgot to mention Amazon is slowing down in orders and laying off warehouse workers.

[@JJ-jn7ei]

This was an AWESOME discussion!!

[@Stringer710]

As a restaurant owner, I can definitely say people don’t spend as much as they used to…. BECAUSE THEY DONT HAVE MONEY TO SPEND!!! So many people are living paycheck(s) to paycheck.

[@Intheyr2525]

But more important is the inferior quality of restaurant food - bad quality and high price = No!

[@Stringer710]

@@Intheyr2525 not mines 🫡

[@Intheyr2525]

@@Stringer710we appreciate you😀

[@lilmama6689]

Masks anyone? Bossing customers around during covid means they aren’t customers anymore.

[@DBZNexus]

PROVE IT?!

[@sallyj632]

I make $50 per hour, and even I have to think twice on whether or not a bag of chips is worth $8 when grocery shopping. I picked up the bag and then put it down because I've got bills to pay. And forget places like McDonalds ... $15 for lunch for ONE person! Are they serious!? I stopped going to them, too. I can't afford all this crazy inflation.

[@redbella215]

Nailed it. I have a similar income and start cussing whenever I see an $8 box of cereal

[@michaelbrower5042]

I'm so with you. I was an OTR driver for many years. Truck stops are the worst for price gouging. I remember seeing a small package of fresh fruit in Oregon a few years ago for $10 . I had to make the choice of eating less healthy. Even though I usually have several hundred dollars in my pocket, you have to decide if something is really worth it

[@redbella215]

@Dingus99268 there’s 40hr hour jobs that pay $50 and hour what do you mean? They aren’t plentiful but they exist

[@sallyj632]

@Dingus99268 35 hours per week. As I stated, I've got bills to pay.

[@sallyj632]

@Dingus99268 35 - 40 hours per week actually. I've got bills that come first.

[@michellehutchins4075]

I remember in the early days when companies paid benefits with 20 hours. What is happening in America is a travesty. Greed is a horrible thing.

[@MrNick615]

Opened the borders now ppl are disposable.. just bring in more if you don’t like it.. get land and build on it asap if you don’t already have something it’s not going to get better 😢

[@bryanupton9872]

That’s why we use to have open markets, less regulatory burden, and less gov-derived industry, to protect us from greedy individuals.

[@nitemoves3157]

Billionaires are also the ones controlling the healthcare. Look at whose names are on hospitals. It’s a tax shelter. Neither political party has appealed to the labor majority in my opinion.

[@soundjudgement3586]

Republican billionaires control the USA economy and reap billions from food, insurances, cars, etc.

[@dabda8510]

@@MrNick615 Don't forget just straight up outsourcing skilled, well paying jobs abroad, paying 10%, 20% of what they used to pay US citizens. This will accelerate de-skilling of American workers. So many of the tech companies doing the layoffs last year or so are simply replacing with offshore workers.

[@terrisewell4729]

People should remember: poverty is not an accident, a coincidence or an inevitability. It is something which is manufactured by the ruling class, but investment is the key to sustaining your financial longevity, i pray that anyone who reads this will be successful in life too

[@perefeghaandrew8076]

You're right, you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.

[@Soboj-oy8me]

yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too

[@philominafashi1662]

exactly! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn

[@thomassarah6626]

For me passive income is the best way of investing that can secure your family future. Such as real estate, stock market and forex trading too

[@JosiahHelloy]

Obviously these investment requires much cash and concentration to start?

[@AHumbleAmerican]

The last four years has been the greatest transfer of wealth in the history of mankind and it was facilitated by the Fed and gov't

[@RichBudski]

This.

[@Nigriff]

From The Working Class to The 1%

[@Nigriff]

"Capitalism isn't greedy, humans are. Capitalism is not perfect, but Free Market Capitalism is the best system in the world to keep greed in check." -Jack Gamble 🎉

[@patrickgallagher213]

YUP

[@robertfrye3301]

That is anti-Semitic.

[@sheabilladeau1392]

The next 5 years are going to be ROUGH. Everything is very expensive, cost of living has gone up so much, houses are crazy, and there are many zombie companies that will fail. Time to keep your savings and not overextend to buy anything.

[@josiahbjertness1083]

It's going to be a lot longer than 5 years. I fully expect the dollar to lose all global confidence in the next 30 years. It's by design. To move everyone onto a common currency. I'm keeping my eye on brics.

[@deborahcurtis1385]

Make sure you have very well made shoes you can resole and fix. Worth it to buy them. Cheap shoes make no sense. I bought a sweater last week it was on sale, so warm and glad I bought it;...but I've slowed down to next to zero purchases. Don't eat out much at all. Managing your health is a top priority. Nobody is flashy anymore they're scared of being robbed.

[@michaelcostin2384]

Exactly. Many people I know with money are even cutting back and watching their speeding. It's going to get much worse throughout many layers of the economy.

[@soundjudgement3586]

Republican billionaires control the economy

[@jonyahwe4598]

Why would you keep savings that are losing purchasing power everyday? Cash is the worst place to stack your wealth now as it is being stolen by printing machines

[@0211tim]

Went to a showing yesterday $500k on market 30+. All of the sudden there is a cash offer, must place offer by end of today. Real estate agents are creating the FOMO. Michigan rural area. House has lots of issues and needs updates! I’ll just be patient.

[@mattyghost3409]

Soon many real estate properties will be tokenized and became a digitized real world asset...Im already loaded in prousd.... Cryptos are salvation

[@michaelaubrey1978]

Something similar happened to me a few weeks ago. Zero offers on $500K house for 45 days. We make an offer at market value. Suddenly a cash offer came in out of nowhere. It was actually for slightly LESS than what we offered, but the cash was literally on hand whereas we would take 45 days to close. We were like “wait what? Why now out of nowhere?”

[@radzer0966]

Ive been watching so many "Under contract" than back available. And these are well above market pricing too.

[@Jeffrey-p6l]

​@@michaelaubrey1978they will do anything to get back to bidding wars for houses. That cash offer was there the whole time. Waiting for you to bid on house.

[@Summergirl65]

​@@radzer0966 I'm also seeing more homes under contract come back on the market and buyers even walking away from earnest money.

[@otisshaw1]

Friend of mine on the NH Seacoast is a broker , he was saying how people who used to be able to afford a 500k home loan now can only afford 350k loan due to interest increases. Problem is there are no houses at that price point .

[@deborahcurtis1385]

Tiny houses is what we have come to. They're building versions of them in Texas row on row, back to back. Ghettos of the future.

[@dabda8510]

California offers, or used to offer, special mortgage programs for public school teachers. Well, following the guide line in the program, the only house that could be purchased is a shack in a bad neighborhood...

[@cardboardboxification]

@@deborahcurtis1385 buy in when new get out before it goes to chit

[@Dragonologist]

Abaondon the coast. Life isn't about luxury and laying on the beach. Americans need to make their own products again and stop sourcing everything from other countries.

[@scruf153]

my home cost 65k within 5 miles of most everything bought it in 97

[@randolphwilliams2365]

When you go to the grocery store that actually makes you angry you know there's a problem. There's no end to the inflation

[@Nativo2202]

Stimulus is also giving illegal immigrants free money to spend courtesy of the taxpayers to make the economy look good also.

[@lilmamarogue1073]

True​@@MesmerAloofly

[@TrollinOn22s]

I know some illegals and there was no way for them to get any money.

[@JoeMoe-oe3mw]

Huh? They're not even eligible without SSN, tax info.

[@Blinky1li]

It's inflation to u.s. citizens from all the money going abroad and to i.a.

[@Blinky1li]

​@@JoeMoe-oe3mw They make more per month than many u.s. citizens who've worked for decades.

[@derekh1791]

But don't worry all the news organizations says we're doing great and we should be happy! News flash the 1% are doing fantastic and seeing the results of the economic growth while the middle class and young generations suffer.

[@XLPROTLR]

I'm a floor Installation contractor in south Alabama. 2023 wasn't real good . 2024 my calls dropped drastically. I even travel into North West Florida area. It's normally busy spring and summer season.

[@Iquey]

People don't want to move to forced birther states with psycho governors obsessed with criminalizing drag queens.

[@Emery-xx8nc]

I’m a flooring contractor myself in southern New Hampshire. Been busy however I noticed in the last three weeks. The amount of calls I get have drop significantly. I usually get one or two a day and now I’m getting one or two a week.

[@cardboardboxification]

when I goto the HVAC supply stores I always ask is it busy or slow ,, they say dead , I'm my area I haven't seen a addition or add on a second story in 20 years , mostly people buy and tear down the 1960 little house and build the monster , In the rich areas , other then that its a flipper Home Depot remodel

[@susanneschmidt6159]

The new flooring store near me was completely empty on Sunday..just a few employees..I'm in Oakhurst NJ...

[@randywilliams6248]

I knew people who were buying TV's and toys for their kids, or going vacations when all this was going on. It was nuts.... I don't think most people even put two thoughts into where the money came from, just what they could spend it on! Just keep on buying crap!

[@angelbabe1977]

Same!! I still see people taking vacations and such. Heck our higher cost restaurants have 1.5-2 hr waits at almost any given time. Our lower cost restaurants and fast food chains are always busy, with sit downs having no huge wait time, maybe 30 min at peak and fast food with lines that seem to never end. These people crying they have no money ate the same people spending as if they have an endless put of money. I do some delivery services to make extra cash for many reasons, and I once went in to try it cause I was curious and I immediatly backed out. I am sure not complaining cause I make more doing that than my HR job paid. My husband who does autocadd/blueprints has ar any given time the last 4 yrs had upwards of 21 drawings at a te Currently has 8 with 3 additional drawings scheduled for meetings. These are residences, business and even schools. People are not hurting as bad as the claim is.

[@MrR40388]

@@angelbabe1977 People are sheep and don't even know why they spend.

[@angelbabe1977]

@MrR40388 you are not wrong!! It's because people have become lazy and put entertainment over real priorities. People will pay extra costs to do as little as possible and do what they want. I had an order a while back for weed Wacker string. $15 tip, went a mile away, and when I got there the customer was sitting on the porch waiting. In the time it took me to take the order, drive to the store, shop the order and deliver it, they could have had it and been finishing his yard. But dude paid for convenience.

[@bob-pr8ye]

I agree!

[@bob-pr8ye]

We talk about it all the time... They had to of gotten a settlement or mom & dad's inheritance. Had to !

[@pjnewton1014]

My sisters husband rented a tesla from Hertz for their recent trip to NM and they immediately regretted it. They had no idea where to charge and charging it took forever when they did find a suitable place to do it. It took their interest in it away totally.

[@zackg5046]

The car will literally show you where the nearest chargers are and will actively give directions to said chargers. It will recommend the nearest charger based on battery percentage so you’re never left stranded. Sounds like they just weren’t educated on the tech they were driving. I drove my Model Y from WA state to Virginia and even drove through NM and never had a problem finding a charger. As for the charge time, I used that time to go to the bathroom, eat and explore a place that I have never been before. 40 mins maximum and I was on the road again, while the car mapped out to the next most convenient charger that was necessary, when the battery reached a certain percentage.

[@Hankandrex]

​@@zackg5046your life, needs and schedule sound pretty different from theirs. Glad it works for you and you enjoy it

[@trina2100]

They probably rented a different EV. I had that experience with off brands but never a Tesla. It's a simple button on the screen that navigates you to the nearest charger so I'm not sure how they "had no idea where to charge".

[@pjnewton1014]

@@trina2100 There are not many charging stations in the part of Albuquerque they were staying near San Dia park and some of the places that had charging stations maybe only had one or a couple of units.

[@trina2100]

@@pjnewton1014 oh I see. I guess they focused primarily on major metropolitan areas first.

[@wallye8713]

I know many parties that have 10k in bank and there monthly expenses are $6,000 Buttt have 20k in variable credit card debt. They don’t have enough money to cover there monthly expenses if job lost for more than month in New Jersey.

[@nicklasmillner101]

Jersey and Connecticut, highest credit card balances in ,USA.

[@Anonymous-wb3nz]

*their. Spelling is hard.

[@ubiquity02]

This is so sad. Americans are suffering and most politicians don't care.

[@erinsweet8147]

27:50 my FIL offered to give us $70k toward a home in his neighborhood and we said “no.” Didn’t want strings attached and still couldn’t afford the house!

[@richu761]

Much respect... someone who says what needs to be said.. and has no fear.... ABSOLUTE TRUTH

[@blackbcg]

Not sure if they mentioned it, but for those folks hoping to refinance to a lower rate when rates come down, there is a good chance home values will have declined by the time rate cuts happen to the point that folks no longer have enough equity in their homes to qualify for a refinance.

[@deborahcurtis1385]

Oh dear...you could be right about that.

[@nitemoves3157]

Right because the Fed pivot means something broke in the economy is not as strong.

[@cardboardboxification]

banks and loans ( credit ) causes all booms and bust form the 1930's

[@Dragonologist]

I can think of significantly more reasons for houses prices to rise as opposed to fall. The way I could see housing prices drop significantly is if we drop all of our "green energy" regulations and open up nuclear facilities to make energy extremely cheap. Everyone but the energy companies will profit.

[@susanjohnson9255]

I feel this hardship we all are experiencing is due to locking down our country. People didn't get to go to work and this hurt everyone and every business. The stimulus was not much money at all but the grants the Government gave the business didn't help the individual families. Now the business that kept the grants for themselves instead of helping their employees is coming back to harm the businesses. Shutting down our country was a huge mistake. Trump was right, he said don't shut down the country. Aldo, I just appreciate your channel.

[@bryanupton9872]

Of course this is why. Every country shut down and printed stimulus. While information was censored, harboring a stressful environment and discrediting helpful treatments; pharmaceuticals basked in an EUA protected product that was marketed by world governments and paid for by tax payers.

[@garywillier4303]

FK the rapist and Coward called Donald Trump fkers A loser

[@themunchies123]

Young people dont vote

[@IndieLatino]

The "lock down" didn't last more than a month, idiot

[@allnamestaken93050]

@@themunchies123 Because they are smart enough to realize voting is for smooth brains that can't differentiate from scripted reality tv and the presidential debate. Boomers actually think that CNN is their friend and the government has their best interest at heart. But thats not surprising, considering the me generation idled and watched as this country went right down the drain, screwed over their grand kids, and then had the audacity to blame them and say " just work harder, young kids don't want to work ". Just simply google median incomes and prices of ANY commodity from those times and now. Millenials are fighting a losing battle on both ends, abandoned and mocked by their seniors, but facing a challenge 8-10 times more difficult, boomers like to lie (to themselves mostly) but they dont like to think critically or fact check themselves. They are just completely out of touch with reality, most spoiled generation in humanities history, and their terrible greed and judgement brought the once greatest nation on earth down to the 3rd world level of banana republic mixed with post capitalist corporatism. If America actually revolts and survives that generation and their insatiable greed and chase of hedonistic pleasure, Boomers and a fair chunk of Gen X will be known for millenia as the group that almost killed the last bastion of hope, freedom, and liberty, for the entirety of humanity.

[@phoenixsong20]

We are playing a game of monopoly, and expecting it to never end.

[@garymiller4141]

Using monopoly money

[@jonimitchell5646]

Monopoly And Chicken May God help us!!!!

[@huntncover]

The better poll would be , how much money do you have in the bank compared to your outstanding debt ? Net worth , black ink . Too many are hiding behind borrowed prosperity .

[@mayy9685]

Worse then broke

[@scruf153]

I have no debt so 300%

[@AZJ0e]

No business, no kids. We didn’t get $1 from stimulus

[@alyross3081]

We didn’t either. People look at me like I’m crazy. We got no stimulus checks.

[@Livingthedream157]

Same here. We don’t get ANY “free” money because we make too much.

[@Gcuve]

I love it when they redistribute my wealth.

[@Livingthedream157]

Join the crowd. We could never get any help for anything, so we put our twins through college and paid cash to avoid those nasty student loans.

[@trina2100]

The gov't wasn't checking...I know a few ppl who got min $10k lying about having a business and didn't. I did get I think the two $600 pmts. I didn't ask for them or apply,, they just appeared in my acct.

[@rodmunch1012]

Jack just cracked me up with that comment about the revelation of the scientific breakthrough in 2022 where this new thing called greed was discovered. That was gold!

[@brianmeegan6384]

No greed in the 19th century ? Go read history ! 😅

[@jharknessxrp]

I don’t finance life essentials. But I do use my credit card on 100% of my purchases except for my mortgage payment. I pay it back completely every month get points back on my cards and reduce fraud. Liability on my bank win win.

[@trina2100]

Yes I use cards every chance I can simply for the points and I just pay it off at EOM.

[@steveng1413]

America dollars is going unwanted , over printing and over debts is euroding the confident of american dollars .

[@patrickbianchi1146]

U.S. has always printed money uncontrollably. What is destroying trust is piracy (frozen assets) and using the dollar as a weapon

[@nickwojtow6787]

Everything about America is increasingly unwanted. Our tyrannical foreign policy, our woke joke tranny/DEI culture, our disastrous toxic food supply, our dysfunctional racket of a healthcare system, our dilapidated infrastructure, our outdated and archaic “public transportation” system……America is losing left and right…..the rest of the world has not only caught up and is saying enough, they are surpassing us rapidly.

[@robcraigmyle3892]

Also US sanctions and seizures.

[@wirza555]

These things will likely be getting worse than not for the US citizen. Back then the USA could just print a crazy amount of money and export the inflation/problem somewhere else whenever they had an economic crisis. They did that during the pandemic... And it backfires horribly because now the US$ is largely unwanted. The Fed even looks clueless about what's happening, because the formula no longer works as it should. Wait until they cut interest rates (coz of the election whatever), and don't be surprised if the inflation jumps back again. Times have changed, and the US no longer has superior purchasing power. People should react accordingly, lower their expectations, and not doom spending either (I heard that China banned wealth flaunting, this is one of them)

[@Mike_257]

Top priority issues of 2024 voters: 1) Economy. 2) Border. 3) Crime. We The People... Stand up to save America.... USA USA USA USA USA USA

[@spoopyradicalsnake]

America has forgotten their Lord their God who sustained them in the past; this is why deadly diseases & economic trouble is upon this great land. Isaiah 60:12

[@steve5976]

Fix the money is #1

[@bryanupton9872]

But people don’t understand what caused our economic problems. They’ll just advocate more regulation.

[@RichBudski]

America was bought and sold in 1913.

[@RichBudski]

Please, Mike. USSA is done.

[@daneengibson7336]

I don't know anyone who had stimulus money past 3 months after getting a check.

[@latishiabedwards1423]

Mine lasted an hour.

[@diyguy6054]

Still have mine.

[@foobar5477]

In the 80's I remember going to auctions and picking things up for dirt cheap. People were line up for many blocks just to get an application for a job. Plus 20% interest rates. If you have cash your good if you don't... Its hard tmes

[@brianmeegan6384]

Cash is king now . 😃

[@Anonymous-wb3nz]

*you're. Spelling and punctuation are hard for the individuals with an IQ of 65.

[@norma-salomejay6785]

These two guys are pure gold. Enjoyed every minute!

[@bobnduck4456]

I love watching both of your channels but Jack shined today like I have not seen before. Jack is even more intelligent than I first perceived. Thank you for bringing him on.

[@tonegre]

CORPORATIONS don't care about the high interest rates because they put it on us, the consumer.

[@brucesnyder690]

Retired expat from the US living in Thailand six years. Everythjng good here- low cost of living, no inflation.

[@sanciadrobina5194]

We all need Jack in our lives! I’m a recent subscriber to his channel. Todd, you’re like me, trying to catch up all the time 🤯🤣🤣. Jack is all over it 👏👏👏

[@theinflationsituation8870]

Jack's a seems like a good working dude. I've been watching & supporting for year. For no formal training in econ he's really sharp.

[@boogie6872]

What needs to happen in Washington is we need to get rid of all the old politicians because this is where the biggest problem is they have old time way back in the day thinking it's a new day we need fresh ideas from young people who have a today feel and have a desire to move this country forward most of the current politicians in Washington are old and stuck in their ways and that's why this country is stuck in neutral time to rebuild the transmission in this country and move forward

[@jameswalker231]

AMEN to this...

[@fabianadefreitas2365]

Quem manda não é a maioria. Os políticos defendem os interesses das grandes corporações, dos ultra bilionários que financiam as campanhas eleitorais. A democracia ocidental é uma farsa e as mudanças que você sugere não são possíveis dentro deste modelo.

[@vrj40]

The problem is they are all bought and paid for by large corporate interest, the young, old, black, white, democrat and republican. Having young pols in DC would change this system at all. Money must be gotten out of our political system in DC.

[@laurablake8330]

@@boogie6872 And implement term limits for congress and campaign finance limits

[@kajjebre]

FED needs to be AUDITED and prosecuted immediately.

[@wallye8713]

I question the poll. I know many persons that have 10k in Bank but that does not cover there monthly expenses. In fact they have 10k in Bank but have 50k in c/c debt. Those type people will start to feel pain as im seeing credit cards jacking lending rates to 30-35 %. In New Jersey homes that are now 500k will go back to 350 if not lower in year and maybe back to 199k like 8 years ago.

[@lisabrightly]

I've never seen home prices decline that much, *ever* They may park and not change for a year or so but decline significantly, never!

[@RoyalFizzbin]

Hi, I am in NJ too, so very familiar with the market here. I hope that happens (house price decline), but I highly doubt it will happen.

[@3mexhuas]

I believe any interest rate over 29.99 percent is illegal.

[@trina2100]

@@lisabrightly I bought a house in 2013 for $51,500 that was once $75k a few years prior.

[@lisabrightly]

@@trina2100 where do you live? 75k wouldn't buy a shed in my town.

[@christinea2124]

This was a fantastic interview- great info. Thanks for calling it like it is! Especially regarding all the covid nonsense.

[@kayak9078]

I can’t believe I I just listened to a two hour show but it was so good and you two do a stellar job throwing out interesting conversation. I learned a lot!

[@nicholasirving9543]

If a rich man’s assets are primarily a poor man’s liabilities and people are broke what dose that say for valuations 🤷🏼‍♂️

[@soundjudgement3586]

Ergo. The Republican billionaires control everything

[@irynadellamorte5421]

I am respectfully disagree about no help from PPPL support . Most damage was done with EDD money. In CA it was payment per month $4,300-$4,500 no tax or SS withdrawal . When my workers, who did not run for unemployment, was receiving $2,500 after paying all kind of taxes. Also “unemployed “ people were excluded to paying rent and taxes. We were working one for three, and we’re attending job every day, when so many ….were enjoying life every day during the 18month. But now we all have to pay for it.

[@bryanupton9872]

The damage was done by tyrannically shutting down economy for an exaggerated illness.

[@EatwithM.E]

Knew so many people who were collecting and just laughing at the whole situation it was sad

[@RoyalFizzbin]

Yeah. Not really fond memories… working like crazy every day while others were paid for not working while talking about all of these hobbies they were picking up. Makes me feel like a total idiot for working the whole time.

[@stevo728822]

22:27 That chart on CC debt is really showing the growth of the cashless society.

[@MrNick615]

No that would be a chart of debit card useage vs cash usage.. debt is debt whether you pay it back with a paper or a electronic digit, you gotta work for it.. debt is a chart of how much labor is OWED at the current moment..

[@stevo728822]

@@MrNick615 No, people buy basic essentials with Credit cards, not just Debit cards.

[@deborahilyia1125]

There are NO FREE ANYTHING!

[@spaceindian3769]

I'll tell you what you get for free GE NOC IDE

[@davidmontgomery5047]

Not even proper English

[@Nigriff]

​@@davidmontgomery5047Neither is your statement. 😅

[@danklein8587]

Illegal Immigrants are getting a lot of Free stuff -:(

[@rollingthunda2775]

​How is that hurting you or the economy? Most states aren't giving them anything. Just New York and California.

[@steveharvey7712]

Blame WEF!!!

[@Nigriff]

And their puppets like Biden

[@kimberlyA-z8q]

I agree with you world economic forum. own nothing to be happy. You are 100 💯 correct

[@LeslieWagenheim]

Yes you might say that but More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. .

[@BraxtonScott452]

@Pamcheryl That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the names of the advisors who has been assisting you in navigating these financial challenges?

[@BraxtonScott452]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings?

[@ChrisDERUNNER]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@BEAUTIFULDIANAFRANCIS]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $875k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@DE-Burrows]

It's true that many people underestimate the importance of advisers until their own feelings burn them out. A few summers ago, following an ongoing divorce, I needed a significant push to keep my company afloat. I looked for licensed advisors and found someone with outstanding qualifications. She has contributed to my reserve increasing from $275k to $850k regardless of inflation.

[@karenjensen2345]

My son quit a teaching job due to low pay to become a "disaster" inspector, thhe most dangerous job on the planet. Climbing on instable roofs all day long. It pays very well BUT it is "contract" work so zero benefits and you have to provide your own 🛻 truck. He loves it though but even training was unpaid. So.... 90% of the available workers can't do this job. You have to be young, agile, fit, and self motivated and have enough saved to buy a truck, a decent one at that and a ladder and special shoes

[@bryanupton9872]

Who funds that job/industry?

[@karenjensen2345]

@@bryanupton9872 3rd party that the insurance agencies hire to do all the dangerous work of climbing roofs documenting everything

[@rwaterssydney]

"Greed is a sickness for which there is no cure"....scripture, ancient egypt, 5th dynasty

[@bjreeves-kempf6940]

SO...I'm a lender, the only peeps who could buy at the historic low interest rates were mostly person with wealth either personally or a family members who could help them pay over asking price..

[@ChampionLion85]

Looking forward to the show. Hello from DFW, Texas!

[@TravisPluss]

Greed is not in check by the free market. You have the largest companies buying out their competitors for intellectual property and throwing away the people’s jobs whom they acquired and increasing their costs because there’s no competitor offering a more affordable alternative.

[@darcyrogers8881]

Real wage consumers are dyeing. BUT your forgetting about the 15-20 M illegals who get benefits. Hold on wait a couple of years. .

[@yaegermeister4307]

1 year. Depending who is elected for president.

[@analoglime]

They're not illegals. Apparently they are "Newcomers" 😂

[@chrispriester1647]

Yep. Guna cause irreparable damage

[@nitemoves3157]

They’ve been coming. Hell even Reagan tried to fix immigration. The gang of 8 senators presented Senate Bill 744 in 2014. Couldn’t get the House of rats to vote on it.

[@mistermylo8607]

They don’t invest in our economy or our country.

[@trishrivers7302]

Look at the money the congress people and sports stars got for small business during covid. Just tons. The reg people didnt get that. Rich people did.

[@deborahcurtis1385]

Nailed it! And that is what is fuelling inflation. There's a lot of money sloshing around for some.

[@alyross3081]

Right. Like all those “companies” with ONE employee (themselves). That’s fraud and a lot of it has been forgiven. Makes me physically ill.

[@soundjudgement3586]

​@@alyross3081: If the Feds uncover PPP fraud even if only $10,000, it's not being forgiven. The perpetrator will not see an Income Tax check for years.

[@highthereguys]

Nobody special is amazing! Love the guy

[@markusseah6803]

Thanks!

[@SachsRealty]

Thank you so much!

[@a_numbers_girl7025]

Being a forensic accountant, I would agree- we will see massive amounts of fraud in PPP

[@RadicallyFRUGAL]

Gentleman, this was like a graduate level seminar in applied business economics. Thank you. DOUG W. Asburt Park NJ

[@DanielPerez-mb7wm]

The CEO of Redfin loves to say “date the rate..” with a smile on his face.

[@tydavis8777]

I really appreciate you are doing your best to help explain basic economics! Unfortunately most people don't get it, not their fault after all they were educated in public schools!

[@mattanderson6672]

Brilliant interview, thank you so much!!!

[@DKLGalactus5]

The problem is that corporations are gouging the public and cutting the product you get, the they say its inflation. But their profits have double or triple . Plus home prices and rent. Gas over taxed.

[@jerryburden4525]

If you are on Social Security, we are F’ked!

[@GelliSolo]

Why?

[@sal1665]

@@GelliSolo I think because our SS benefits don't even cover rent. I know this first hand. I live in a dump. I can't afford market rent on 1440. I am 62 and live in a very bad hood. I tried to apply for senior housing but it's a ten year wait. No senior should have to live this way. Also you can't live on your benefits now.

[@dj_bae]

And if you’re not on SS you’re screwed too. Taxed to death to fund it for current retirees, but it won’t be there when it’s time to retire. What a life.

[@MrR40388]

@@sal1665 Wasn't deigned to cover your expenses. It's supplemental income.

[@Country-i1g]

Valentines. Over two billion spent. Lotto. Vacations. Christmas. Cars. Loans loans loans. It’s not just inflation. It’s lack of fiscal responsibility.

[@khutzey4149]

💯 love the frank talk in a world we’re so many are still clinging to the blinders!!

[@detyelram2819]

I'm getting a "Between Two Ferns" vibe and I love it

[@theinflationsituation8870]

😂

[@karenjensen2345]

Where does the cruise ships catagory come in? We go on cruises and they are packed and busier than ever and they keep building new ships. All brands are doing g well from budget Csrnival to luxury Seaborne. I am curious as to why? I would think the market would be down.

[@Brooklyn-rj3np]

Wow. My favorite real estate channel has exploded ❤been here since the beginning

[@SachsRealty]

🙏 Thank you

[@NowWhat7894]

BS... I'm a mail carrier and everyone is ordering JUNK everyday like mental people. It's horrible

[@BIgBass255]

I have never bought anything from Amazon, I'm proud of that.

[@trina2100]

Alot of that is just business moving from brick and mortars to online shopping. It's the same money being spent on the same things just a different way of getting it hence you're seeing it as mail vs counting cars in parking lots.

[@shirtlesslager]

@@trina2100 This is correct. I save money by mail ordering EVERYTHING, even food. Also, I hate people, so this means no more shopping at Walmart. I have food and other things delivered to my house.

[@trina2100]

@@shirtlesslager lol same here!! Even if I have to buy from the stores (catching sales) I do pick up only but most everything I order is online and delivered to the house.

[@laurablake8330]

@@shirtlesslager😂😂

[@Eric-is1jt]

They need more money,when they get it,spend it,then they want more,spend it,problem still there.They equate everythig with spending money so thats all they know how to do. Total irresponsilable concept of money,thats how bankrupt we are.😅😮😢

[@scot9085]

If the Government wants to raise my taxes..they are getting an I.O.U., Im taxed out!!!....

[@irynadellamorte5421]

I love to hear your opinions on financial situation! Trying to follow up your every podcast, Todd! Thank you so much Todd and Jack!

[@karenjensen2345]

Love your guest!!!!!!

[@Jeffrey-p6l]

Every morning nobody special finance is first thing i listed to. Later in the day clear value tax explains thing s amazing as well

[@ritawhite6169]

Great show Mr. Todd....straight talk, no chaser. Your show always teaches me something new that I can use.

[@Lee-hl1su]

What can we do now?

[@ChadAndersen-qc4kf]

It's going to get ugly real soon

[@ERICLnj]

even if people dont seem broke , or they are under the presumption they are doing ok, they are closer to the bottom than they think. 75K in savings looks nice, but the loss of a job a blown engine on the car and a new hvac unit this summer will wash that 75k away in a heartbeat. All the work it takes to stuff money aside and its gone in a flash. I have a decent nut in the bank and investments but I literally dont spend a dime in fear of losing it. What a shitty way to live and I know it

[@OilTrading]

Trade.....Invest....

[@luvmycountry777]

This was a great talk, very informative. Thank you Todd and Jack 👍🏻

[@erics3101]

Best guest ever Jack, next to Melanie ❤❤❤

[@BIgBass255]

@53:00 I threw up my dinner. I didn't get a dime of that free money. I hate politicians more than ever.

[@woodendoors9532]

Outlaw AIPAC and watch government spending go down.

[@johnh5896]

Great show lots of knowledge and no bs .i just ran out of stimulus now credit card is locked and it’s hand to mouth . I was in a grocery store security had 4 people in cuffs and still more stuff was getting stolen one guy knocked down an elderly lady to get out with 2 cooked chickens .😢

[@trina2100]

Such a shame....my mom shops at Ross and they keep the door locked only allowing a certain number of ppl in at a time now.

[@patriciayohn6136]

Sad and scary at the same time.😪😱

[@Ooops1984]

Service sucks because par timers dont stay...its a perpetual cycle of training

[@bryanupton9872]

Well incentives are low yet cost of employment ever rising, certainly due to inflation but also, largely, regulatory burden that has compounded over decades.

[@annehaverhals1750]

Many people had a padding.....they had extra savings due to having their student loans put on hold, rent on hold, some cases mortgages put on hold, not having to commute, not having to pay for child care, Covid money (especially if they could say they had a business), cheap second mortgages, etc etc etc. Between inflation & people who tend to spend it instead of saving it (they never learned 'do you need it versus do you just want it')......that padding is now going away.

[@mt.shasta9127]

The American collapse/economic disaster will go down in the history books….its gonna be legendary.

[@trina2100]

yep....but sadly the next great power will rinse wash repeat

[@mt.shasta9127]

@@trina2100 all of the big empires like Egypt, Greece, Prussia, Rome, Spain, Britain, all fall now is are turn, then China is next, the ark is always moving west, until it gets back to the temple. The average empire last about 250 years….we are right on schedule.

[@trina2100]

@@mt.shasta9127 I want to learn more

[@johnhibbs6508]

Jack is great!

[@btimothygordon2777]

Not to be Nitpicky, but "Savings" doesn't necessarily mean "in the Bank". My savings are not. Keep only a months expenses in the bank. I have no mortgage or revolving credit

[@Jeffrey-p6l]

Yes I thought that poll was very vague.

[@roslyntchakedjian927]

Thank you excellent as always. Good Day.

[@frankcimino-e6z]

Good show. Reminded me that assets make assets

[@dolphinwaves]

Why are tons of logistics warehouses being built and left vacant ? My area has tons of them some small but others even larger than Amazon that are completely empty. Who could possibly ever use them and they just keep building more

[@frankherman5195]

they gonna get rid of stores and hoard everything and then sell everything tp the highest bidder

[@Nigriff]

"Date the rate, marry the house." -Dave Ramsey 🤪 He never mentions the appraisal fee, refinance fees, and all the money lost from the interest payments in the front end

[@Adamadam-tj3gj]

I have a black car service in the DMV . Being in the business for 12 years but this years is horrible !!!

[@martinb4093]

This guest is awesome

[@BenTodd-fl8nv]

I’ve been saving for a long time instead of investing, and right now I only have about $516k. I'm not sure how to make it grow, considering all the inflation, into something substantial that I might use for retirement. I just here for ideas

[@Debbie.Burton]

At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.

[@AlexMAGA2024]

I ran to the Philippines waiting for Trump to return

[@duststorm2699]

Invest $20,000 in whatever risky thing you want. Then you keep that $480,000 in savings. Stop obsessing. They want you to bet your $500,000 and lose it!!!

[@WFPBFORLIFE]

Since the corporations have been taking advantage of people maybe it is time to change things and people begin to take back from the corporations... 😂😂😂

[@martinjanuario3053]

The government may soon have plenty of time to review those ppp loans and the documentation behind it.

[@trina2100]

I know there's gotta be millions to recover from fraud. I personally know SEVERAL ppl who got a min of $10k lying about having a business and I'm an introvert so I don't have that many ppl I chat with about finances.

[@pqtpat7734]

Cheers Jack

[@breadbowlpasta]

Great show, thank you Todd.

[@bpb5541]

I think we are getting close to folks being out of money but not yet. Proof. We get PPI today the market tanked and then ripped and kept on ripping. Which means there is still too much money chasing too few goods and services. We will know the money has run out when bad news actually causes the market to go lower and continue lower. Until then inflation is very much still here. I think we see it really start to hit in about 4 to 6 months. More important will be asset prices like cars and houses staring to tank. These things make foks feel richer then they really are. If your house is worth half of what you think it is... how would most folks act? They certainly would not be buying (going long) any stocks with bad news.

[@OilTrading]

I know this may be very difficult for you to believe but you're being fooled. What you're seeing is nothing more than a computer simulation all scripted (programmed) in advance. I know this both because I'm a scientist and because I discovered this to be true through a fuction of "time" and "price" (Chart).....This is also true all of global financial "markets"....all illusion....

[@toyaavant5129]

You make some great points

[@threemonkeys5441]

This is exactly it! As long as the upper middle class feel rich, nothing will actually crash

[@toddholland5612]

love this episode. great job Todd and Jack

[@jordanstorment5094]

One in 37 mortgages are under water by 25%?!?😳 Anyone want to take a guess what the #1 cause for a home owner to default on a mortgage is??? NEGATIVE EQUITY! Many times people are not walking away from a mortgage due to loss of a job like you would assume. It’s not due to lack of ability to make the payment. It’s negative equity. There are some differences in this market compared to 2008, that is correct. One thing that hasn’t changed….PEOPLE! Psychologically speaking…people are the same. They will do the same exact thing they did last time this happened. But stuff they can’t afford! Get in over their head in debt! Over extend themselves financially! And walk away as soon as they are considerably upside-down on their home and then the snowball starts running downhill😬🫣

[@lisabrightly]

Really? I see my neighbors fighting desperately to keep their homes. Some fight for years, my neighbor just got his house back - it was five seconds away from a courthouse sale. He's fought over five years. It's sad actually, people try so hard - it's heartbreaking. Who are these lackadaisical home owners that you know?

[@malalachernobyl5594]

Americans are best in producing dollar notes