Speaker 1: By good morning, Good morning.
Speaker 2: So thank you for coming on the call even though
Speaker 2: you're not feeling well. That's very nice of you. And
Speaker 2: congratulations with the Steve Harvey interview. It was really really
Speaker 2: well done. It was great. So you guys must feel
Speaker 2: so proud of yourselves right now, So thanks a lot
Speaker 2: for that as well. My question is about my TDA.
Speaker 2: I am a teacher in New York City and I
Speaker 2: have about ten more years left till I retire, so
Speaker 2: right now I have They let you split up your TDA,
Speaker 2: your tax defer annuity into diversified and fixed, so I
Speaker 2: believe I've always had it like eighty twenty, but I
Speaker 2: just realized that the diversified has options and I didn't
Speaker 2: know that. So there's like a bunch of different options,
Speaker 2: and I just wanted to know, like how, like what's
Speaker 2: the best way to like pick between the different funds
Speaker 2: because they have like like three or four. There's like
Speaker 2: a sustainable one, there's an international one, Like do I
Speaker 2: just go by like the history or do you think
Speaker 2: it's better to just stay with like the one they recommend,
Speaker 2: which I think is just they call it like the diversifying.
Speaker 3: Yeah, it's always good to rule a thumb. You always
Speaker 3: want to look at rate of returns. That's something that's
Speaker 3: you know, a cheat code whenever you look at an investment,
Speaker 3: especially like four one K or any type of retirement
Speaker 3: plan investments, usually like they'll they'll give you a sheet
Speaker 3: and it'll have like, you know, the different funds, so
Speaker 3: it's like the stable fund, to grow fun the international funds,
Speaker 3: and then they'll have like the yeah, the date return,
Speaker 3: three year return, five year return, ten year return, census inception.
Speaker 3: What I like to do is look at the longest
Speaker 3: possible time frame, so like ten years or since its inception.
Speaker 3: Sometimes if it's new, it might not have a ten
Speaker 3: year track record. It might have like a five year
Speaker 3: or four year track record, but yeah, or I look
Speaker 3: at the long the longest possible time frame and see
Speaker 3: which one has usually performed for that. Usually, like I
Speaker 3: haven't really been a big fan on international funds. It's
Speaker 3: me personally, especially like in retirement accounts over the last
Speaker 3: like ten years, they haven't done as good as like
Speaker 3: just been international growth growth funds. So it really just
Speaker 3: depends on your risk tolerance. But you know, the growth
Speaker 3: growth funds is always going to be something that's going
Speaker 3: to usually you know, be the best as far as
Speaker 3: growth over the cost of time. That's like no more
Speaker 3: large cab companies. And but the good thing and I
Speaker 3: don't know if they changed it, but I know a
Speaker 3: few years ago for the fixed account for the city,
Speaker 3: how much is the fixed account paign?
Speaker 1: Like seven percent something like that.
Speaker 2: It's it's seven point twenty five. When I started, it
Speaker 2: was eight point five or eight point two five, but
Speaker 2: then they lowered it to seven point two five, so
Speaker 2: I was able to get the eight percent like the
Speaker 2: first two or three years I started teaching. But now
Speaker 2: it's seven point twenty five, and like I have ten
Speaker 2: about ten more years left, so I have like twenty
Speaker 2: years already and I have ten more to go. But
Speaker 2: the sustainable index gives a greater return. But it's very new,
Speaker 2: so it's only like a few years old, so I'm like,
Speaker 2: is this Should I trust that? And then they also
Speaker 2: say to like switch it right before you're about to retire,
Speaker 2: to just be in the fixed ones so you don't
Speaker 2: have to worry about like big issues with the market.
Speaker 1: Yeah.
Speaker 3: Well, the good thing with that is that that's pretty
Speaker 3: much I heard of to have a fixed account that
Speaker 3: earns seven percent, So that is one thing that you know,
Speaker 3: the New York City OUH Department, that's like really like
Speaker 3: kind of amazing that they have a fixed account, which
Speaker 3: is like pretty much you know, no matter what the
Speaker 3: stock market does, you can earn seven percent. So usually
Speaker 3: a fixed account in this environment is like one percent
Speaker 3: or less than one percent. So seven percent on a
Speaker 3: fixed account is extremely extremely good. So you know, I
Speaker 3: wouldn't take it all out of there. Definitely would probably
Speaker 3: leave some money in there just for the safety purposes
Speaker 3: of it. Like you know, if all if all else fails,
Speaker 3: if the stock market crashes, you're guaranteed to get seven percent.
Speaker 3: That's not bad, obviously, you know that's not as good
Speaker 3: as if the stock market goes crazy and you get
Speaker 3: thirty percent of twenty percent.
Speaker 1: But you know, it's all about diversification.
Speaker 3: So I would diversify, but I would leave at least
Speaker 3: at least like probably twenty five percent in a fixed
Speaker 3: account because that's just like a guarantee insurance.
Speaker 1: Almost.
Speaker 2: All right, thank you Sedalia?
Speaker 1: All right, wait where coming to you on MU?
Speaker 4: Please? But you're in muted you should be able to speak, right,
Speaker 4: looks having.
Speaker 1: Difficulties sometime you got this do them tool. You gotta
Speaker 1: make sure you are muted on your earners.
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Speaker 6: An illegal alien from Guatemala charged with raping a child
Speaker 6: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 6: accused of murdering a Texas man of Venezuelan charged with
Speaker 6: filming and selling child pornography in Michigan. These are just
Speaker 6: some of the heinous migrant criminals caught because of President
Speaker 6: Donald J. Trump's leadership. I'm Christy Noman, the United States
Speaker 6: Secretary of Homeland Security under President Trump, attempted illegal border
Speaker 6: crossings are at the lowest levels ever recorded, and over
Speaker 6: one hundred thousand illegal aliens have been arrested. If you
Speaker 6: are here illegally, your next you will be fined nearly
Speaker 6: one thousand dollars a day, imprisoned, and deported. You will
Speaker 6: never return. But if you register using our CBP home
Speaker 6: app and leave now, you could be allowed to return legally.
Speaker 6: Do what's right, leave now. Under President Trump America's laws,
Speaker 6: border and families will.
Speaker 1: Be protected sponsored by the United States in the Homeland
Speaker 1: Security and too. Like we can on YouTube, but make
Speaker 1: sure you're muted on you and so we could all yeah.
Speaker 6: He hadn't muted himself, but he wasn't speaking.
Speaker 4: All right, do right, We're gonna go to the next person, Natasha,
Speaker 4: I mute yourself, pleased football. I have a question about
Speaker 4: a trust. Who do I go to the start a trust?
Speaker 4: Where do you live in Maryland?
Speaker 1: Well, I know, so the lawyers that we use.
Speaker 3: You know the thing with the lawyers that is different,
Speaker 3: Like MG he could practice in almost any state for
Speaker 3: the for the mortgages, but lawyers they have to they
Speaker 3: have to be licensed in the state. So I know
Speaker 3: we've used to being a lot. I know she's licensed
Speaker 3: in New York and New Jersey. I don't know if
Speaker 3: she's licensed in Maryland, but I think that we we
Speaker 3: had somebody that was licensed in Maryland, because I remember
Speaker 3: I got that question before from somebody from Maryland.
Speaker 1: But if not, we can.
Speaker 3: Definitely you know, look, I don't want to give you
Speaker 3: an answer right now because I don't know at the
Speaker 3: top of my head, but if we could put it
Speaker 3: in a Facebook after we you know, do some research
Speaker 3: and find some good attorneys, maybe magnat, maybe that's something
Speaker 3: that we can just do period. Like you know, we
Speaker 3: can try to, like you know, highlight some different professionals
Speaker 3: in different areas country, especially the law thing, because that's
Speaker 3: something that you know, you depending on what state you
Speaker 3: live in, you got to really use the lawyer that's
Speaker 3: that's practicing in your state, and that could become a
Speaker 3: little tricky if you live in states that you know,
Speaker 3: we haven't really featured lawyers in that state. So okay, yeah,
Speaker 3: the Legal Club, we have a legal club actually, so
Speaker 3: maybe that's something at the Legal Club can can can
Speaker 3: can do.
Speaker 4: And one more quick question, I remember you saying that
Speaker 4: I can I think it was thirteen or fourteen, you
Speaker 4: should put six thousand in a IRA for your child?
Speaker 4: Is that in it? It could be an estimate. I
Speaker 4: think y'all were saying one million. Is that six thousand
Speaker 4: and four when she's fourteen or six thousand every year
Speaker 4: would equate to that estimate.
Speaker 3: Yeah, So what I did when I thought I was
Speaker 3: on a breakfast club when I was, I said that
Speaker 3: a while ago. I was using an example like if
Speaker 3: you put six thousand a year, and from I believe
Speaker 3: it was like the example that I gave was like
Speaker 3: from fourteen to twenty I believe, like from fourteen to twenty,
Speaker 3: and I just used a hypothetical like if it earned
Speaker 3: ten percent, I use like QQQ, which you know has
Speaker 3: averaged more than ten percent over the last twenty years.
Speaker 3: But I'm like, al right, if you earn like ten
Speaker 3: percent a year by the time there's sixty, then they
Speaker 3: will have a million dollars. So obviously you know it's
Speaker 3: it's not like one hundred percent guarantee because it depends
Speaker 3: on the market. But that was an example that I
Speaker 3: had gave just to kind of illustrate the power of
Speaker 3: investing early, because if you think about it, even if
Speaker 3: it's not six thousand.
Speaker 1: Whatever, you can do.
Speaker 3: But that's only like four years or you know, six
Speaker 3: years of investing. And you know, just by the compounding
Speaker 3: interest and leaving it in for such a long period
Speaker 3: of time, than that equals a million dollars without even
Speaker 3: having to put any more money in after the age
Speaker 3: of twenty. So you know, that was just an example
Speaker 3: of you know, the power of compounding interest. And you
Speaker 3: definitely and I think the example that actually gave us
Speaker 3: with the raw fire and the raw Fire ray is
Speaker 3: even better for kids because they don't pay any taxes
Speaker 3: or when they take the money out. So now you
Speaker 3: set up there, you set up their retirement account when
Speaker 3: they're young, and you know, by the time they get
Speaker 3: they get to retirement, they're gonna have they're gonna have,
Speaker 3: you know, a tremendous amount of money just by the
Speaker 3: money that was set up for them, you know, while
Speaker 3: they were teenagers, and that had nothing to do with
Speaker 3: you know, their own fall one cage or their own
Speaker 3: iras when they get old enough to set it up
Speaker 3: for themselves.
Speaker 1: So that's definitely a strategy that parents can use for
Speaker 1: their children.
Speaker 3: Whenever they turn legal working age and the rulers you
Speaker 3: can put up you could put up to well, six
Speaker 3: thousand is the max, but you can put up to
Speaker 3: whatever the child made. Like if they have a part
Speaker 3: time job and let's say they made like three thousand
Speaker 3: dollars for the year, then you can put up to
Speaker 3: you know, three thousand dollars. But it's not unreasonable to
Speaker 3: have six thousand dollars because it's like if they work
Speaker 3: it like CVS or something like that, you know, they
Speaker 3: make five hundred dollars a month, that's six thousand dollars
Speaker 3: a year, So five hundred dollars a month. That's not
Speaker 3: really a lot for a part time job, so you know,
Speaker 3: and then if you're self employed, it's even better because
Speaker 3: if you're self employed, then you can hire your child
Speaker 3: and you can pay them, and when you pay them,
Speaker 3: you get a tax deduction for the money that you
Speaker 3: paid them, and then that money you can put into
Speaker 3: the rough IRA or a IRA for your child. So
Speaker 3: that's like a double edged sword because now you're actually
Speaker 3: saving money on its taxes and your child is working
Speaker 3: for you and you get to save money for their retirement.
Speaker 3: So a lot of different things that you can do
Speaker 3: with that. But ye'd ask some different ideas for show.
Speaker 6: An illegal alien from Guatemala charged with raping a child
Speaker 6: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 6: accused of murdering a Texas man of Venezuelan charged with
Speaker 6: filming and selling child pornography in Michigan. These are just
Speaker 6: some of the heinous migrant criminals caught because of President
Speaker 6: Donald J. Trump's leadership. I'm Christy Noman, the United States
Speaker 6: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 6: crossings are at the lowest levels ever recorded, and over
Speaker 6: one hundred thousand illegal aliens have been arrested. If you
Speaker 6: are here illegally, your next you will be fined nearly
Speaker 6: one thousand dollars a day, imprisoned, and deported. You will
Speaker 6: never return. But if you register using our CBP home
Speaker 6: app and leave now, you could be allowed to return
Speaker 6: legal do what's right, leave now. Under President Trump, America's laws,
Speaker 6: border and families will be protected.
Speaker 1: Sponsored by the United States Department of Homeland Security,