TRANSCRIPT FOR THE AUGUST 6, 2016 “ON THE MONEY” SHOW

Hosts: Harry Stadelmayer, CFP®, AIF® and Joe Bert, CFP®, AIF®

It’s an Ask the Expert Saturday morning on News 96.5 WDBO.  We’ll catch up with Reno in just a minute.  He says all the major highways are kind of clear right now.  We’ll check in with traffic in just a few minutes.  But, I want to tell you that Orlando’s oldest and largest — Independent —  Firm of Certified Financial Planning professionals is the Certified Financial Group in Altamonte Springs and with us this morning On the Money, Joe Bert the Oracle of Orlando, back in the main chair.  How are you, Joe?

Good.  Good to be back.  Thank you very much.

And your colleague, Harry Stadelmayer is back with us.  Hi, Harry.

Hi.  Good morning, Kurt.  Hi, Joe.

Nice to see you both in.

Good to see you.  Good to be here.

And I do have to say it’s nice to have Harry back with us.  You have been with us in a long time.

Not in a while.

Harry’s been doing some traveling.

Have you?

I’ve traveled a little bit.

Well, we’ll catch up on that in a little while, huh?

Yeah.

Now Joe, in case anybody might be new to this program, tell everybody what you all take calls about.

Once again, harry and I are here this morning to clear away the mind fog that you might be having regarding your personal finances.  As you hear us say often, unfortunately our educational system has failed us when it comes to teaching us how to save and invest for our future.  We go through life trying to earn a living, trying to keep our head above water, pay for college, pay for weddings, buy the house, do all that stuff.  And one day, we wake up and realize that somewhere the paychecks are going to stop.  And we have Social Security coming in and maybe a pension, but other than that, what are you going to live on? and that’s where we come in.  We’re going to answer those questions that you might have about planning for your future and oftentimes it involves questions that you might have regarding stocks, and bonds, and mutual funds, and IRAs, and 401(k)s, and reverse mortgages, and annuities, and life insurance.  All that and more, Harry and I are here to take your calls this morning and there’s no question that’s off the wall because we’ve heard them all.

Well, we have 25 years and believe me, if you’ve got a question that you’re thinking about and you don’t want to — this may sound stupid or something, believe me, there is no such thing as a dumb question because there are probably 15 other people out there that are thinking of it and may not have the courage to pick up the phone.  The nice thing is you can call and you can be totally anonymous.  Just pick up the phone and let us know what your question is and we’ll do the best we can to answer it.  If we don’t have the immediate answer, we know where to find the answer and we will either get back to you or we will direct you to the resource.  So, the good news is the lines are absolutely wide open this morning.  We are live this morning and all you have to do is pick up the phone and dial.

844-220-0965.  Yeah, as Joe said, we’re live.

Live.

Yeah.

From New York.

No no, different show.

844-220-0965.  844-220-0965.  Or you know you can text us as well from your mobile device and that texting number is 21232, 21232.  Or, if you’re so inclined and you want to make your voice part of the program and you want to ask a question via the open mic, you can do that.  You can find the open mic on the News 96.5 app.  Harry, among other things, we’re going to talk about are you truly maximizing your 401k contributions because studies out there say you’re not.  And we’ll tell you how you can maximize it without it hurting too much too.  Schools are about to start.  Have you started your 529 plan?  Let’s get right to that.

529 plans.  School.  Everybody’s out shopping.  Is this — this is tax free week, isn’t it? Tax free weekend.  Big shopping weekend.  Top of the mind: School.  Kids are going off to high school, junior high, and college.

For parents, it might be just sending off their kids to their first year.  Maybe we’ve got to tell our listeners what tax free weekend is.

Not income tax, the sales tax.

Sales tax, yeah.  There are — I’m not sure what the — was it books, shoes, and clothes?

It’s school supplies.

School supplies.

Limited to $15 on that and $60 for clothes.  So, you can’t buy the Air Jordans.  But, you can buy good shoes.

Certain computers, I think, are eligible.

I don’t think —

Not the fancy-shmancy ones.

No, I don’t think so.

No?

No, uh-uh.  You’re limited to — for $15 on school supplies and $60 on clothes.

They’ve really tightened it up.

I did see where was it Seminole County gave out $70,000 <Inaudible>.

Wow.

But, anyway, my point is are you prepared? And one of the areas that I think gets overlooked a lot — you know, we have prepaid tuition — is the 529 plan.  And the 529 plan is a wonderful way of putting money aside for that child that is going to be hopefully going to college.  The beauty of the 529 plan is if that child doesn’t go to college, this money is transferable.  But basically, the idea of the 529 is you put some money away into this plan.  Unlike Roths and IRAs, there’s no age or — there is a limit I think of 235,000 is the max lifetime that you can put in, but it’s a way to put money aside.  Typically, there’s different state sponsors and you can be as aggressive or as conservative as you’d like to be.  You put the money aside, the money continues to grow.  You can add as little, I believe, as $100, $200, $300 a month.  So, you don’t need this big lump sum, but you can start it and fund it.  Fund it for 16, 17 years.  You’d be amazed at what kind of money you may accumulate over time.  But it’s, again, another way of putting away money.  The beauty of the 529 plan is if you’ve been diligent, put money aside and there is some growth there, the money that comes out for college, whether it be supplies, tuition, room and board — and that’s the beauty of the 529 is you have a little more leeway there — is all tax free.  So, it’s a great way of putting aside money, letting it grow, Uncle Sam doesn’t get any at the end, and you have put some money aside and prepared for that big expense that you may be facing in 5, 10, 15 years.  Again, it’s a plan that’s really overlooked for many folks.

What if your child gets a hankering to go to say an out of state school?

So, what that is — 529 is transferable.  Again, there’s so — it’s a very flexible plan.  The 529 plan will travel.  It doesn’t matter if you’re in state.  There are some advantages if you purchase a state 529 plan and happen to live in that state.  In some situations, there’s some state benefits.  You get some tax —

We don’t have that situation here.

Not if you’re in Florida.  And you don’t have to necessarily stay with a Florida plan.  You can — Fidelity has them, American Funds has them, and they’re all associated with different states, but it is a wonderful way — and the reason I say this is my niece and nephew just went through school and fortunately my sister did a nice job of planning and doing the 529, and every quarter I’d get a phone call saying hey, we need $2,300, $2,800 and the money was there and they did a nice job of planning.  Again, you don’t need but a little bit of money each month as long as you plan appropriately.  So, 529 plan, if you haven’t heard about it certainly call our office.  We’d be happy to talk to you about it at length.  It’s also a way of grandparents putting away a substantial amount if you’re looking for estate planning ideas.  Grandma and grandpa, you want to put a little bit of money aside for that grandchild, it’s a nice way of doing that.  Again, I think there is a maximum of 400,000 I believe — 200,000 to 400,000 depending on your lifetime contributions.  So, 529 a great way to prepare for school.

Let me know ask the Oracle of Orlando here to pull out that crystal ball.  Colleges these days, universities, they are so doggone expensive and they keep going up and up and up and you see how fancy they are.  They’re like resorts.

Yup, you know what’s going on with the colleges is the same thing with the real estate back 10 years ago.  Because money is easy to get for college and so the money is easy to get and therefore they continue to raise the prices and they continue to build extravagant universities with extravagant features and therefore — and this is why we have a $1.2T student debt situation.  Because the money is easy to get, just like it was for real estate purchases 10 years ago.  We have the same exact thing going on.

Yup.

And you know what’s going to happen.  Aaron and I were meeting with some clients the other day and he came up with an observation.  And I think he’s absolutely <?> right on this.  In 10, 15 years, a lot of this stuff is going to be done through computers.  You won’t be going to campus.  It will be mobile.  You’ll be doing it at home on computers, online.

Online.

Yes, to bring the cost down.  And so we’re building these big institutions today which you won’t need or have the —  the college experience is going to be totally different 20 years from now than it is today simply because of <Inaudible> purposes.

I mean I gasped when I saw the University of Phoenix stadium.  What’s a university have a stadium like that for?

University of Phoenix?

Was it the University of Phoenix?

No.

University of Arizona.

Arizona.  Yeah, yeah, they have a —

A modern stadium.  Holy cow.

University of Michigan.  I mean look at the —

And they pay their faculties and their presidents millions of dollars.

Yup, yup.

Well, we could stay forever, but Joe, you found some information.

Yeah, like I said, it’s $60 or less per item for clothing and $15 per item for certain school supplies.  So, when that runs out at Sunday —

It does say personal computers and computer related — oh, does not apply.  I’m sorry.

That’s the tax free weekend this weekend.

Go do it.

Take advantage of it.

You save 7% on your purchases.  That’s not bad.

Okay, here’s the number again 844-220-0965 for Harry Stadelmayer in the studio along with Joe Bert.  Both of these gentlemen, in case you knew, are certified financial planning professionals.  They’ve been doing this program now for 25 plus years and we’ll send them home one day for a shower.  844-220-0965 or you can text us at 21232.  Again, 21232.  Dave Wall is in the News Center.  He’s coming up in just a few minutes from now.  He’ll have today’s top stories including — well, one of them being on shore is the opening of the Rio games.

Did you watch that last night Kurt at all?

No, I was in bed.

The youngest, age 13.  The oldest, age 41.

I find that interesting.

What a show, though, and boy did that cost some money.  We’ll be talking about that later too.

One thing I did do last night was I studied up for today’s program and I read this week’s Must Read.  You know, I’m getting closer.  How to apply for Medicare without claiming Social Security.

Mm-hmm.

What’s that all about?

Well, we’ve talked about delaying Social Security and the benefits of postponing collecting your Social Security because of the guaranteed increase that you get every year, but when you get to be age 65, if you’re not covered by your employer’s plan, you want to apply for Medicare.  So, this tells you in this article and this week’s Must Read is available on our website at financialgroup.com.  That’s financialgroup.com.  There’s all the details on how to do it.

Interesting.  I had that question this week.

Alright.  Here’s a question that we have for Harry.  Somebody’s aunt just died — our condolences — but he just got $0.25M in an inheritance and he’s 43 years old, doesn’t even know what to do.  So, we’re going to ask Harry what this person should do if you should be so fortunate.  Do you have lottery winners and people that come into quick money, Joe?

We do.

Yes, we do.

We have lottery winners over the years and we try to guide them as best we can.  Sudden wealth can sometimes be a curse and you’ve got to be careful how you handle it.

Let me tell you the power of this show.  Can I have a minute?

Yeah, real quickly.

We had a — I have a new client whose husband used to listen to this show religiously year after year after year after year.  His wife was a lotto junkie.  He told her three, four, five years ago if you ever — remember the phone book that we used to have? He opened the phone book and he circled our name.  He said if you ever win, call these people.  Call these people.  Put it in the drawer.  Two years ago he passed away, she pulled out the phone book and called us.

Because she won.

She won.  She’s a new client of Certified Financial Group.  So, the power of this show.

There you go.

You never know.

We’ll give you some advice as to what you should do if you come into it and we’ll answer this inheritance question as well as take your call.  Call us, we have a wide open phone <Inaudible>.  844-220-0965.  844-220-0965.  Or text us at 21232.  Joe Bert is in the studio with Harry Stadelmayer planning tomorrow —

Today —

With the Certified Financial Group.  It’s On the Money brought to you by the Certified Financial Group.  They’re Orlando’s oldest and largest independent —

Independent —

Independent certified financial planning professionals.  And in the studio today, Harry Stadelmayer and Joe Bert.  We have some calls.  Let me give you the number if you’d like to join us real quick.  It’s 844-220-0965.  And the text number is 21232.  Tony is on his cell phone and he has a question.  Tony, good morning, sir.

Good morning, guys.

Good morning, Tony.

Hi, Tony.

Thanks for calling, how can we help you?

Alright, I’m going to turn 65 in January.  I’m still working full-time and I have medical insurance.  Do I still have to register for Medicare, and if I do would I be able to have insurance at Medicare and insurance at my job? And what are the advantages and disadvantages?

What you want to find out is if your group insurance is going to be primary, or if it’s going to be secondary, and that’s what you need to find out.  At age 65, you need to enroll for part A, which is the hospital side, and then part B is the doctor side.  That’s what I was talking about Part B of your company plan is going to be primary or if it’s going to be secondary.  If it’s going to be secondary, then you definitely need to enroll in Part B.  Some plans will allow your current coverage to maintain the primary.  Otherwise, you’ll need to get part B as your primary and then your company plan will be your secondary.  Then when you leave the company, you’ll have to get what’s known as a supplement to pick up what Medicare part B is going to pick up.  But, you need to check with HR.

Okay.

Alright?

Yup.

Alright, let’s get a quick call in from Dawn in Palm Bay.  Good morning, Dawn.

Good morning, gentlemen, how are you?

Hi, Dawn.

Great, Dawn.

Hey, Dawn, just out of curiosity, how old are you?

I’m 51.

You know something, when I heard your name, you know I bet your folks were Four Seasons.  Remember the <Inaudible> no, I am 100% serious that a lot of people — here’s the little known fact.  We named our daughter after a song, Jennifer.  That’s a long story.  But I know people that name their children after song that were popular at that time and you’re just about in that bracket.  So, turn on the Four Seasons today and enjoy the — your son, Joe.  But anyway <Inaudible> why’d you call?

I’m calling because my husband and I, we are both W-2 wage employees, and we make a reasonable living.  And what we decided was to try to plan for a future because neither of us want to recognize that at some point we’re going to have to retire and do nothing, alright.  So, we bought the land that was in back of our property and at this point we have about seven acres.  So, we’ve been talking about a schedule F.

Right.

And growing palms and mangoes and so forth.

Okay.

And we’re concerned about setting this whole thing up and doing it in a manner that the IRS isn’t going to be angry with us if we don’t make, like, a lot of money.

Gentleman and Lady, Dawn, Dawn, Dawn can I ask you to hold on please? I’m going to ask you to hold on because we’ve got to get to the News Room.  We’re under an obligation here.  And Joe and Harry, you hang on as well because we’ll answer this quick.  Can you help her out, Joe?

Yup.

You hang on.  We’ll answer your question coming up as well, alright? Don’t go anywhere.

Hang on, Dawn, don’t go anywhere.

It is an Ask the Expert weekend here on WDBO.  My name is Kurt and this is On the Money, brought to you by the Certified Financial Group in Altamonte Springs.  With us today, two of the 12 certified financial planners.  We have with us the Oracle of Orlando back in the studio, Joe Bert, and also with us, Harry Stadelmayer.  Before we go on here, I just wanted to mention that we had Dawn on the line.  I don’t know how you figured this one out, Joe.

I’m not called the Oracle for nothing, you know.

God, Joe, you’ve got something going on there.

Alright, Dawn, are you still with us?

I am here.

Rockin’ and rollin’.  Thanks for waiting, Dawn.

So, let’s circle back for the listeners that just might have joined us.  You and your husband have a business right now and you’re recognizing there’s going to come a day when that’s going to stop, and you’ve got seven acres, and you want to turn it into some sort of farming operation.

I — actually — we don’t own a business.  We work for — each of us work for a company.

W-2, right, you said?

Right.  W-2 wages.

Okay great.  And now you’ve got some acreage there behind your house, seven acres, that you want to turn into some kind of farming activity, and your question is:
Well, the concern is that growing things and producing a business that will make money —

Right.

— doesn’t happen in 12 months.

Right.

So, our concern is doing it not having the IRS annoyed with us or creating problems for us as well do this venture and setting it up correctly.  We are actually — we talked about meeting with a financial planner or a CPA to help us set his business up correctly, and didn’t know if that was something that you had experience with.

I am familiar with schedule F.  I’ve filed them myself at one time in my life, but I would suggest that you meet with a certified public accountant, a CPA, to structure your business accordingly.  Schedule F is, for those listeners who may not be familiar with that, is what you file for farm income and you’re going to recognize your income, and expenses, and ultimately pay tax on hopefully some profits.  But, I think you’re concerned that if you don’t have a profit the first year, that’s okay.  Because, you’re going to have start-up costs.  But, you have to operate it like a business and keep records and so on and so forth.  So, that’s what you need guidance on.  The IRS is not going to hound you if you’re doing it correctly and this is where you need to get guidance from a CPA.

Okay.

Okay?

Do you have a CPA you recommend?

I do.  If you want to call our office, I’d be glad to give you that name and then she can set you up and tell you exactly what you need to do.

Excellent, thank you so much, guys.

You’re welcome, Dawn, and we love you and we love <Inaudible>.

Good luck to you, Dawn.

Alright, thank you Dawn.  And here’s the telephone number if you’d like to call.  I don’t know if we’ll have an appropriate tune to match your name or not, but we can try.

What is it?

I don’t know.

Oh, you mean someone who calls now.

I don’t know, Barbara? Is there a Barbara Anne?  Here’s the number.  It is 844-220-0965.  844-220-0965.  Speaking of CPAs, your colleague, Gary Abley, is also a certified financial planning professional and a CPA.  He’s got a workshop coming up, guys.

Yes, that is on Tuesday, September 27th from 6:00 to 8:00 in the evening.  That will be in our board room over there on Douglas Avenue, 1111 Douglas Avenue.  And really, this is a basic workshop with some understanding of investing and savings.  We’ll be talking about debt, inflation, retirement planning, health care planning and budgeting, asset allocation.  Just a litany of different type of areas of financial planning in general.  Anything that has to do with money.  It’s very, very well done, Gary does a very nice job, and that is on Tuesday, September 27th from 6:00 to 8:00.  He’s suggesting 15 or older.  So, if you have a granddaughter or a daughter or son you’d like to bring with you and get them maybe a little curious about how money works and how compounding works and all those types of things, please give us a call at 407-869-9800.  Or, you could certainly go to our website and register.

This is a great workshop because it’s really financial planning basics 101.

It’s the stuff that — I wish they would teach this stuff in school.  It’s amazing that the people that we see that are very successful business people in their careers and professions that don’t have the basics down and I think that’s sometimes, Harry, what keeps people from coming to see us for the first time.

I think there’s a little — I think sometimes there’s a pride situation where they’ve been so successful in building their practice and their business or being involved in that that they haven’t spent time on money.  Like they say, Joe, they don’t teach it — or didn’t teach it — back in school and so sometimes they feel maybe a little —

Embarrassed.

— embarrassed about coming in and asking the basic questions about should I be investing in stocks, or bonds, or mutual funds? Or what’s my — sometimes they just throw their money into a 401k, they leave it, which is in some cases not a bad idea, but when it comes to planning purposes, yeah, I agree with you, Joe.

You know, it’s no different than going to see the doctor.  You can’t diagnose yourself.  Or going to see the dentist.  You can’t fix your own teeth.  Or going to see an attorney.  They’re specialized in that stuff and that’s what we do.  Although you would think that saving and investing ought to be basic stuff, we ought to know how to do that stuff, unless you’re involved in it day in and day out and know what to look for and what to stay away from, you’re really operating in the dark.  And this is where a certified financial planner can be of help to you.  This is what we do day in and day out for a fee for our clients.  If you want more information, just go on our website.  That’s financialgroup.com.

Alright, here’s the telephone number.  If you’d like to join us, it’s 844-220-0965.  Or, text us at 21232.  Here’s that e-mail question I was talking about earlier.  My aunt died about a month ago.  I just found out that she left me $0.25M.  I’m 43 years old, I have no idea what to do with this money and where to begin.  Capitalized letters, HELP!!!  Three exclamation points.

Well, I say first of all, congratulations.  Your aunt loved you very much.

The good news is you don’t have to pay any taxes on it.  Some people think they get an inheritance, that money is yours, totally tax free.

That’s correct.

Yup.

And this is, as Joe mentioned before the break, this is something that we deal with a lot and it’s called Sudden money.  And sudden money can do crazy things to people.  I think first of all, you’re still very, very young.  I think there’s obviously a trustee involved and probably you received a phone call from a trustee saying hey, I’ve got good news, your aunt left you some money.  So now you have the burden of responsibility to be diligent and do your homework as to where do we go with this.  Certainly, the money may — I mean there’s certainly a lot of questions that we would have, but I would highly encourage this individual to seek the guidance of a certified financial planner, whether it be us or someone in town because again, this was an inheritance.  Whether the money was in trust or it might have been in 401(k)s or IRAs, there’s different ways of handling that money and a mistake could cost you tens of thousands of dollars if — say for example it was in qualified money and maybe in an IRA and all of a sudden you took a distribution.  Guess what? Now you do owe Uncle Sam a bunch of money, which Joe talked about inheritance not having to pay Uncle Sam.  But if you make a mistake it could cost you a lot of money.  And that’s why I suggest that you seek out guidance and take the proper steps of making sure that all your Ts are crossed and your Is are dotted.  Again, congratulations and hopefully this individual will make the right decisions.

Okay, it’s coming up on 9:45, a quarter to 10:00, on WDBO.  Our Dave Wall is in the News Center keeping an eye on things.  He’s got a plate full of news to <Inaudible> around here.  He’s got the big three coming up in five minutes from now.  I imagine one of them is the Rio opening games, the Olympic games.  And Harry, you asked if I watched them earlier.  I’m watching a bank of monitors right now.  They just had the opening ceremonies on one of them.  I’ve got to tell you, God blessed the Brazilian people with some beautiful bodies.  I’ve got to tell you.

Well, thanks for bringing us up to speed.

I mean, holy cow.

I was going to go from a financial standpoint, but if you want to go with the body part.

Gee whiz.  I mean, it’s a fact, though.  Well, anyway, here’s the telephone number if you’d like to join us.  It’s 844-220-0965 — it’s only obvious — or text us at 21232, 21232.  Question for you, Harry.  Are you truly maximizing your 401k contributions? The studies say that people are not.

That is, in my opinion, is where we really are dropping the ball.  There are studies that have shown that this past year the contribution amounts have decreased — not increased, decreased — and with the aging of America and the ability to put money away, there’s a study out that Vanguard did that shows that <Inaudible> and percentage of contributions are plummeting.  That’s not a good thing, folks.  I know Joe will agree with me.  How many times have we seen folks walk into the office, they’ve had contributions and their company matches of maybe only 2% to 3%, and that’s all the money that they’re putting in because of the match? That is a huge mistake that many Americans are making is not maximizing their 401k.  If you’re out there and you have the ability to put away 8%, 9%, 10%, that’s something that you really need to shoot for.  If you’re at 3% or 4% and you can’t take that initial jump, consider moving up 1% each year until you get to that 10% or 11% or 12%.  But, again, many folks are dropping the ball.  It’s not your employer’s responsibility to make you prepared for retirement.  It’s your responsibility and the fact that maybe your employer is contributing a 2% or 3% match is just a bonus.  Really the rest is up to you and again, even though your employer is only matching 3%, you should be maximizing — that should not be your benchmark.  Well, I’m only going to put in as much as my employer is matching.  And I think that’s one of the reasons we’ve seen the decrease.  So, take a look at your plan, look at what you can budget, get that contribution up regardless of what your employer is matching.

Alright, here’s the telephone number if you’d like to join us now.  It’s 844-220-0965.  Let me see if I can get this.  844-220-0965.  844-220-0965.  We have a text, Joe, can you read that?  I don’t have my glasses.

Please ask Joe if he named his daughter after Donovan’s song? I love your show, David.

Well, it wasn’t.  It was after a Barbara Streisand song.  In fact, if we have just a minute, I will tell you the story of how my daughter — hang on, start that from the beginning — this is the — I get goosebumps talking about this.  46 years ago when my daughter was born, we hadn’t named her when we brought her home from the hospital — stop that, Kurt.  I want to start from the beginning.

Alright, hang on.  Go ahead.

And, we had not officially named my daughter.  And we were driving home and we had an 8-track player — remember the old 8-track players?

Oh yeah.

And we only had one cassette in the car and it happened to be a Barbara Streisand album.  We plugged it in and my wife is holding —

Oh, here we go.

My wife’s holding our newborn daughter and this son came on and this is how she got named.

It’s a sentimental song.  Joe Bert there, look at the tears there.

Well.

It’s a true story.  Her name is, in fact, Jenny Rebecca.

So, you left the hospital with no name.

<Inaudible> it was a whole different world 46 years ago.

46 years ago, 8-track tapes.

8-track tape.  Yeah, in an old Pontiac.

And what a voice.

Anyway, that’s how my daughter got her name.  And that’s — because people do that.  They name children after songs.  <Inaudible>.

Alright, we’ve got to get to Dave Wall in the News Center.

Sorry for that, folks.  We were asked here on the air how she got her name, and now you know.

I see another side of Joe Bert, I see another side of the Oracle of Orlando that’s pretty doggone cool.

Fuzzy-wuzzy <Inaudible>.

You don’t see him at our weekly meeting.

Alright, we’ve got to get to Dave in the News Center.  It’s an Ask the Expert Saturday morning on WDBO.  Coming up in just about five minutes, we’ll get back to Dave Wall in the News Center, followed by Florida Homes and Gardens.  It’s a home fix-up show live here on WDBO.  You don’t want to miss.  We’ll be talking about solar power, we’ll be talking about revamping and remodeling that 1970s era kitchen of yours if it’s anything like mine.  Joe Bert’s in the studio along with Harry Stadelmayer from the Certified Financial Group.  On the phone with us is Mike in Eustace.  Good morning, Mike.

Yeah, hi.  Good morning.

Hi, Mike.

Hi.

Yeah, listen, I almost don’t know where to begin here.  I have a small business and we used to have contracts with the postal service.  They went to a national company and squeezed us out.  That was the start of my problems.  My wife ended up breaking her shoulder, we went on disability with her.  I’ve lost my home, I lost my car.  And I haven’t had the money to pay any taxes, the money that I owe them.  And in 2011, it was a substantial amount.  Basically, I don’t know what to do.  My father is 86.  He does have some means and I don’t want to —

No no no, don’t get your father — don’t get your father involved.  You know, the IRS have programs that they can work you through and are you — you’re looking for someone to help you through this process, I presume?

Yeah, I need the — I’ve tried some of these companies, but they want exorbitant amounts of money.

Yeah, right, right, right.

Open-ended contracts and —

Yeah, yeah, yeah, call my office on Monday, Mike.

Alright, Mike, and here’s the telephone number of the Certified Financial Group.  It’s 1-800-EXECUTE.  And that sounds kind of ominous to Mike, I’d imagine.  1-800-EXECUTE as if you’re executing that plan to get it together, you know, Mike? 1-800-EXECUTE or 869-9800?

Yeah.

407-869-9800.  1-800-869-9800.  We’re just about out of time here.  But, one question here.  I think it’s cut off.  I contribute to my company’s 401k plan, but since everyone doesn’t contribute, I’m limited to how much I can contribute based on the overall weighted plan.  Then it cuts off.

Let me go back to what I was just talking about.  If you’re not maximizing your plan.  This is probably a highly compensated employee at a firm and because the general ranks of the plan contribution limit is low, she or he is limited to what they can put into the plan.  Unfortunately, the rally cry there is to get everybody to contribute more and listen to this show.  That’s what I do.  Have everybody listen to this show on Saturdays, maybe we’ll get them to increase it.  That’s the key to her increasing her amount or his amount.

By the way, before we let you get out of here, Harry, can we get an update? How is your good friend, Mr. Arnold Palmer?

He’s doing well.  He’s up in <Inaudible> enjoying a little cooler weather although it’s pretty hot up there.  But doing very well.  Doing very well, enjoying some summer up there in his summer home.  He’ll be coming down in the spring.

In the spring and getting ready for his next tournament.

His next tournament, yeah.

And you’re not going to be the director of the tournament this year.

I am not.  I’m going to just sit in the stands and enjoy it for a change.

Enjoy it.

You are.  You’re going to revert back to your original handing out donuts.

No, no more donuts.

I may do a small role.  I’m doing a little small role.  I’ll be the starter or something out there.

There you go.

Alright.  Joe Bert, Harry Stadelmayer, good to see both of you gentlemen.  Here’s the telephone number again.  The Certified Financial Group, it’s 1-800-EXECUTE as if you’re executing that financial plan.  Or 407-869-9800.  The best way to get a hold of anybody from the Certified Financial Group is the website. 

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