In this episode of Money Matters, brought to you by Greenberg Financial Group, Dean opens with a word he says he is sick of hearing. Retirement. His problem with it is that it names the end of something and tells you nothing about the part that actually matters, which is everything that comes after. So we plan for lifestyle instead. He also gets honest about free financial plans, because everybody offers one now and some of them exist only to move you into an annuity or an insurance policy. He explains how to tell the good ones from the bad ones, why he went fee based back in 1988 when almost nobody was talking about it, and why there is an estate planner and a tax team sitting under the same roof at River and Campbell.
He is cautious right now and he says exactly why. Every midterm year since 1990 has seen a drawdown somewhere between August and the end of October, averaging about 7 percent. His point is not to sell everything. It is that this is not the stretch of the calendar to go get aggressive, and he walks through what the team does instead.
Then Dave brings the two headlines of the week and admits he could not decide which one was bigger. Merck and Moderna used the same mRNA technology behind the COVID vaccine to build something for patients who have already had a cancerous tumor removed, and it showed a 50 percent higher success rate than Keytruda by itself. Roughly 40 percent of us will deal with a malignant tumor at some point, so this one reaches a lot further than the market. The other headline was Bitcoin, up 22 percent in three days while the Treasury doubled its buyback of longer dated bonds. Dave said he could not remember ever seeing that. Todd ran the back test and found 17 separate times in the last eight years, which opens up a bigger conversation about why gold, quantum and nuclear all caught a bid in the very same week.
The guys also go through the data center myths one at a time, starting with the water, since these facilities use less than a typical golf course and run a closed loop system. That one hits close to home because Project Blue is a 3.6 billion dollar data center proposed for Pima County, the largest construction project in southern Arizona history, and the pushback it is getting locally is exactly the kind Dave and Todd think is built on things people were told rather than things people checked.
Plus a rare week with no all time highs on any index, Walmart down and Target up on the very same consumer, what TJ Maxx admitted about its own shelves, why Dave told his office to sell Krispy Kreme the day he spotted them on a rack at Walgreens, the largest IPO in American history and the one that may top it, and a Tucson fun fact about the first skateboard park in the country, which was not in California.
Every question in this episode is the kind we work through in the free financial plan we build for anyone who asks, whether you ever become a client or not. Our next Interactive Financial Planning Workshop at La Paloma Country Club is coming in October. Details and the sign up link go live Monday under the Resources tab at greenbergfinancial.com.
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Disclaimer:
This show discusses different investment products and strategies. Every product and strategy has some type of inherent risk and we strongly encourage our listeners to properly understand these risks. Past performance is no guarantee of future performance. The information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. The material covered on this program does not involve the rendering of personalized investment advice, but is for general information purposes only. A professional advisor should be consulted before implementing any of the options presented. Greenberg Financial Group is registered as an investment advisor with the SEC and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.
